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OF THE
COMMERCIAL & FINANCIAL CHRONICLE.
[Entered according to act of Congress, in the year 1881, by WM. B. DANA & Co., in the office of the Librarian of Congress, Washington, D. C.J
NEW YORK, DECEMBER ~l, 1881.
SUPPLEMENT
OF THE
·{tommruial t financial QE;gronidt.
"'rhe SUPPLEMENT contains a complete exhibit of the Funded Debt of
tatea and Cities, and of the Stooks and Bonds of Railroads and other
ompanies.
It is published on the last Saturday of every other
onth-viz., February, April June, August, October and December.
It is furnished without extra charge to all regular subscribers of
he CHRONICLE. Single copies are f\lilld at $2 per copy.
WILLIAM B. DANA & co., .Publll!lhers,
79 ct 81 William Street.
NVEST.MENTS-NOVEMBER AND DECEMBER.
The lines are not clearly drawn between investment
usiness and speculative transaetions, and one sort invisi_ly merges into the other. In. a general sense it may be
aid that only those purchases are _considered speculative
hich are made on margins, and in which the buyer does
ot become the actual owner of the stocks or bonds bought
Of late years, however, there has been a heavy business
f the semi-speculative sort, which includes the buying of
ow-priced stocks and bonds, watered stocks, repudiated
ta.te bonds, construction company stocks, "rights " to
ubscribo for various stuff, et id omne genus. The buyer
an take his securities out of the market and lock them up
·n his safe, without the fear of being shaken out by any
emporary panic in the market, and so far, there is none of
he danger which attends the ordinary operations on marin. But as to profit, this usually depends entirely on the
uture; and the cmuse of the markets which may enable
im to sell at higher prices, or the rapid developent of income which will give quick value to the proprty, are the chief elements which every buyer takes into
onsideration in making purchases of this class.
It is unnecessary to refer here to the extraordinary
rofits that have been made since 1878 on the purchase of
uch non-dividend paying ~tocks, defaulted bonds, co·ntruction company rights, &c. They have been simply
normous, and it has often been sufficient to use a moderate
pital in this way and reap a fortune in a short time,
without ever touching a stock on margins. The largest
profit brought to the notice of the writer was in the case
of a railroad in the far West, where the original subscribers received twenty-seven for one-a broker put in
$10,000 for his customer and ultimately took back
$2'10,000.
w ,hile it is not the province of the INVESTORS' SUPPLE·
to comn:ent at any length upon these uncertain but
often highly profitable hits, it may be well to suggest to
capitalists, and all parties with money to invest, that they
KENT
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
should ask themselves why it has so often been possible in
the past three years to make these huge profits out of
almost nothing. Has it not been mainly from the circumstance that during this whole time the markets have been
going up? From July 1, 1879, to the present date there
has been an almost continuous " boom," and even in the
stock market there have been only two notable periods of
depression in prices-the one in November, 1879, and the
other in May, 1880.
The consi.d eration of this fact may be of some assistance
in directing purchases hereafter. Granted that we have
been advancing on a great wave of prosperity for two-and
a-half years, from July 1, 1879, to January 1, 1882, and
where does the market stand at present? Has th~ tide
only just begun to rise ? is it up to the half-tide mark? is
it near the highest point? Upon the answers made to
·these questions, after mature deliberation, must depend in
great measure the operations of those who deal in these
semi-speculative stocks and bonds in which large profits
are always expected.
RAILROAD BONDS.
Railroad bonds of the strictly investment sort are held
very steadily, and vary but little in price from one six
months to another. Among the other bonds which do not
rank quite as high in the market there is more variation
in price, and a tight money market or a flurry in stocks
often puts down prices 1@5 per cent and furnishes investors for cash a good chance to buy. This has been the
case recently, and in December the prices of some of these
bonds have been lower than a month or two ago-such
bonds, for instance, as Erie 2nd consolidated ; Canada.
Southern guaranteed ; Southern Pacific of California;
Galveston Harrisburg & San Antonio firsts ; · Texas &
Pacific firsts ; Texas & Pacific consolidated (not Rio
Grande Division); and some others.
One suggestion comes from a broker in investment
bonds, namely, that there are some very fair purchases to
be found among the six or seven per cent bonds of sound
railroads, maturing within the next few years. These
bonds are selling at moderate prices because they mature
at such early dates, and when the holder receives his
money he may be able to invest at better rates of interest;
but of that possibility he takes his risk.
In the table given below are brought together most of
the interest-paying bonds sold at the New York Stock
Exchange for which prices could be obtained, and the net
rate of interest yielded per year is given for each bond.
This table should be clearly understood, and the following
particulars noted : 1. The price given as "about Decem.
ber 21 ex-interest" is the approximate price in the week
ending that date,. less the interest ac~rued. 2. The
INVESTORS' SUPPLEMENT.
ii
yield per annum is made simply on the price given, with•
out any regard to the dat(\ of maturity. This is believed
to be the best method, as there is some uncertainty in the
·
·
published tables showmg
t h e pro fi ts on bon d s h avmg
different periods to run to maturity, nor do those tables
show at all the rate per cent realized on bonds held for a
few years and sold again at or near the purchase price.
3. The column giving the " loss of principal " shows
.
merely the loss or gain made as between the p11rchase
Price and the par value, if the bond is held till paid off at
maturity, a gain being designated by a star.
NAME .AND DESCRIPTION.
Rate
per
cent.
....o .......e,
.se
a!o:l
As
Price Yield Loss cao
I,;~
near
on o:l~
per prin<l><J>
D ec. 21 annum.
>,p.,
Ex•int.
cipal.
-- - - - - Atlantic & Pacific-1st mort .... 6
Balt. & Ohio- Parkersb. Branch 6
Burl. C. Rap. & No.--lst mort ... 5
Buffalo & Southwest'n-Bonds .. 6
Central Iowa- 1st mort ......... 7
Ches. & O-Bonds (gold) series A 6
Chicago & Alton-1st mort .... . . 7
Income bonds . . ............. 7
Sinkjng tund bonds .......... 6
Louis'a &Mo.Riv.-lstmort. 7
St. L. Jack. & C.-lst mort .. 7
Chic. Burl. & Quincy-1st mort. 8
Consol. mort\3ge .... ... ... . . 7
Sinking fund onds .......... 5
Iowa Division bonds ......... 4
Chic. R. I. & Pac.-Bonds, coup. 6
Keokuk &De~Mo.-lstmort. 5
Central RR. of N. J.-lst mort . . 7
1st mort. con sol. ............. 7
Conve1·tible bonds ... .. ...... 7
Adjustment bonds ........... 7
Am. Dock& Im. Co. bonds .. 5
Milw. & St. Paul-1st mort ...... 8
2d mort ... . .. ....... ......... 7310
1st mort., gold.... . . . . . . . . . . . 7
lat mort., L. & ( L......... .. 7
1st mort., I. & M......... .... 7
lat mort., C. & M... . . . . . . . . . 7
Consol. mort. . . . . . . . . . . . . . . . . 7
1st mort .• I. & D. Exten ..... 7
1st mort. Southw. Division. 6
1st mort., La. C. & D av ...... 5
1st mort., So. Min. Div ...... 6
lstmort., H. & D . Div ....... 7
Bonds, Chic. & Pac. Div . .... 6
1st mort., Chic-. & Pac. W ... 5
Bonds, Mineral Point Div . . 5
Consol. bonds ... ... .. ... . ... . 7
Chic. & Northwestern- 1st mort. 7
Gold bonds, coup ......... ... 7
Bonds, sinking fund ......... 6
Bonds, sinking fund ......... 5
Galena & Chic. Ext.-Bonds 7
Chicago & Milw.-lst mort. . 7
Winona & St.Peter-1st mort 7
2d mort ...................... 7
C.C.C. & Ind.-lst mort., s'kgfd. 7
Consol. bonds ................ 7
Chic. St. P. Min. & O.-con ..mtg. 6
Chic. St. Paul & Min.-lst m. 6
St. P. & S. u.- lst mtg. conv. -6
Chic. & Eastern Ill-1st mort ... 6
Columbia & Greenv.-lstmort .. 6
2d mort.. . . . . . . . . . . . ......... 6
Del. Lack. & Western-Bonds ... 7
Byra, Bost.&N.Y.-lst mort. 7
Morris & Essex-1st mort ... 7
2d mort ...................... 7
Bonds .......... . ... ..... ..... 7
1st mort., consol. gold ... ... . 7
Del. -& Hud. Canal-1st mort ..•. 7
Bonds .... ........ ..... . ..... . 7
1st mort. Ex ten .... ... . . .. ... 7
Bonds of 1894, coupon ...... 7
1st mort., Penn. Div., coup. 7
Albany & Susq.-lst mort ... 7
2dmort ........ · · ··· ···-····· 7
lat consol., guar ............. 7
Denver &Rio Grande-1st mort. 7
1st mort. consol. ............ 7
Denv. So. Pk. & Pac.-lst mort. 7
E. Tenn. Va. & Ga.-lst mort . .. 5
Erie-1st mort., extended ...... 7
2d mort., extended .... . . . ... 5
3d mort ... . ..... . ....... . .... 7
4th mort., extended ......... 5
1st mort. con sol., gold ....... 7
Lon~ Dock bonds ...... . ... .. 7
Buffalo N.Y.& Erie 1st mort. 7
N.Y.L.Erie&W.2dmort. con. 6
lat mort., consol. fund. coup. 7
Evansv. & T. H.-lst mort. con. 6
Flint & Pere Marquette-Bonds. 6
Galv. Har. & San An.-lstmort. 6
2dmort . .........• .... .... . .. 7
Gulf Col . & Santa Fe-1st mort. 7
Han. & St. Jo.-Convert. bonds. 8
Bonds, consol. ............... 6
Hous. & Tex. C.-lst mtg., Main 7
lat mort., Western Div ...... 7
lstmort., Waco & Northw .. 7
2d mort., C. main line ...... 8
General mort ..... . .......... 6
Cedar Falls & Minn.-lst mort .. 7
Indiana Bloom. & w.-lst mt•rt. 7
Indianap. Dec. &. Sp.-lst mort. 6
Int. & Gr.. Nortb.-lst mort ..... 6
Bonds ....................... . 6
Lake Shore & Mich. SouthernMich. So. & No. lnd. sink. fd. 7
Cleveland & Toledo bonds . .. 7
Cleve. Painesv. & Ash. bonds 7
Buffalo & Erie bonds ... . .... 7
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1910
98
11:119 113
99
1906
1908 109
1899 113
1908
99
1893 118
188:-< 103
1903 111
1900 116
1894 117
1883 103
1903 128
1901 108
1919
86
1917 125
1923 104
1890 116
189!"1 113
1902 112
1903 106
1921 100
1898 133
1898 118
1902 117
1 893 118
1897 118
1903 123
1905 119
1908 119
1909 104
1919
94
1910 103
1910 113
1910 106
1921
96
1910
93
1915 · 130
1885 106
1902 123
1929 108
1929 101
1882 100
1 8ll8 123
1887 105
1907 119
1899 124
1914 122
1930
99
191 8 108
1919 108
1907 104
1916 104
1926
93
1907 128
1906 122
1914 137
1891 114
1901 121
1915 122
1884 105
1891 112
1891 112
1894 ll5
1917 127
1888 114
1885 105
1906 124
1900 110
1910 100
1905 102
1930
84
1897 125
1919 105
1883 104
1920 106
1920 127
1 893 116"
1916 1 22
1969 100
1920 126
U.121 100
1920 113
1910 104
1905 111
1909 106
1885 105
1911 110
1891 110
1891 107
1903 112
1912 120
1921
97
1907 115
1900 121
1900 104
1919 106
1909 105
6·12
530
5·05
5·50
6·19
6 ·06
5·93
6 ·79
5·40
6·03
5·98
7 ·76
5·47
4·62
4·65
4·80
4·80
6·03
6·19
6·25
6·60
5·
6·01
6·18
5·98
5 ·93
5 ·93
5·69
5·88
5·88
5·76
5·31
5·82
6·19
5·6(i
5·20
5·37
5·38
6·60
5·69
5-55
4·95
7·
5·69
6·66
5·88
5·65
5·73
6·06
5·55
5·55
5·76
5·76
6·45
5·47
5·73
5·11
6·141
5·78
5·73
6·66
6·25
6·25
6·08
5·5]
6·14
6·66
5·65
6·36
7·00
6·86
5·85
5•tiO
4·76
6·72
4·71
5·51
6·03
5·73
(j•
5·55
6·00
5·30
5·76
6·30
6 ·60
7 ·61
5·45
6·36
6 ·54
6·25
6·66
6·18
6·08
5·,8
5·76
5·66
5·71
1885
1885
18\J2
189t:!
6·54
6·60
6·30
5·69
107
106
111
123
-- --
2 ..
13
1*
9
13
1"
18
3
11
16
17
3
28
8
14*
25
4
16
13
12
6
33·
18
17
18
18
23
19
19
4
6*
3
13
6
4*
7*
30
6
23
8
1
23·
5
19
24
22
l"'
8
8
4
4
7•
28
22
37
14
21
22
5
12
12
15
27
14
5
24
10
2
16*
25
5
4
6
27
16
22
2ti·
fa..
4
11
6
5
10
10
7
12
20
3•
15
21
4
6
5
7
6
11
23
29
38
25
27
18
27
12
2
22
19
13
2
22
20
38
36
42
9
18
21
22
40
17
17
21
12
16
22
24
27
28
38
29
29
29
40
29
34
4
21
.. ..
1
17
6
26
18
33
49
37
38
26
35
45
26
25
33
10
20
34
3
10
10
13
36
7
4
.i.9
29
24
49
16
38
2
39
39
12
2f.>
88
39
40
39
29
24
28
4
30
10
10
22
31
40
26
19
25
38
28
[VOL. XXXIII.
'Ht,
NAM;E AND DESCRIPTION.
------------1
L ake Shore & Mich. Southern1st consol. mort .. coup ..... .
LouI~~~i:tN:f~~~:Eoi:icis::
6~cufi!!·:sranc11\i~na.a·::::::
rn :~it':1f
£>.r1nits:i~~i~~
General mortgage ... . ...... .
1st mort., St. Louis Div .. .. .
i~~~~t&si>e~~i~i~~rt·.·.·.·::
Lebanon & Knoxv. bonds ...
Lake Erie & Western-1st mort.
Lafayette Bl. & Mun.- l st mort.
Louisv. N. A. & Chic.-l st mort.
Manhat. Beach Imp. Co.-Bonds
Metropol. Elevated-1st mort .. .
2d mort ............... . .... .
Mictf~o~;_~~~~~~~~~~~ ~::::::
Bonds, coupon ........ . ..... .
J ackson L ansing & Saginaw
Milw. L. Sh. & West.-lst mort.
Mo. Kan. & Tex.-Consol.mort ..
General mortgage ....... . .. .
Mobile & Ohio-New mort.bonds
Nashv. Chat. & St. L.-l st mort.
N. Y. Central & Hudson-Bonds.
Bonds . .... ................. . .
Bonds, 1 st mort. coup ...... .
Can. South.-lst mort. guar.
Harlem-1st mort. coup . . .. .
N. Y. Elevated-1st mort . .. . .. . .
N . Y. P enn. & Ohio--Bonds .... .
N . Y. City & Northern-bonds ..
N. Y. & New England-1st mort
J.st mort .......... ... . .. .. .. . .
North Pacific-1st mort. coup ..
New Orleans Pacific-1st mort ..
Norfolk & Western-Bonds ..... .
Ohio & Mississippi-Consol mtg.
Ohio Central-1st mort . . .... ... .
Ohio Southern-1st mort .... ... .
Panama-Bonds ..... .. ... ..... .
Peoria Dec. & Evans.-lstmort.
Evansville Divis.-lst mort.
Pacific RailroadsCentral Pacific-lat mort ..... .
San Joaquin J.?onds ....•......
Cal. & Oregon 1st mort ... ..
Land Grant bonds .......... .
Western Pacific bonds ...... .
South. Pac. of Cal.-lst mort ..
Union Pacific-1st mort ...... .
Land Grant bonds .... . ... .
Sinking Fund . .............. .
Col. Trust bonds ........ •. ... .
Kansas Pacific-1st mort ... .
1 st mort ................... .
D enver Division-bonds .. .
1st mort. Consol. .. . ...... .
Cent. B'ch U. Pac.-lst mort ..
Atch. Col. & Pacific-lstm . .
Utah Southern-Bonds ..... .
Extension-1st mort ..... .
Missom·i Pac.-lst Con. mort ..
3rd mort .................... .
Pacific R. of M.-lst mort . . .
2nd mort .................. .
St. Louis & S. Fran. Equip. bds
South. Pac. R. Mo.-lstmort
Tex. & Pac. Railw'y-lst mort
Bonds ....................... .
Rio Grande Div.-lst mort ..
Pennsylvania RailroadPenn. Co's lat mort. registered
Pitti,burg F. W. & C.-lst mort
2nd mort ........... .. ... . ... .
3rdmort ...... . .......... ... .
Cleveland & Pittsburg-Bonds
4th n1ort .................... .
Rochester &Pittsburg-lstmort
Richmond & Alleg'y-lst mort.
Richmond & Danville-Bonds ..
~t'riJs~eriliiint.~.t,t
·mort:
2nd mort ..... . .............. .
Arkansas Branch-1st mort.
Cairo & Fulton-1st mort .. .
Cairo Ark. & T.-lst mort .. .
Gen. con. R'y & 1. g. bonds ..
-St. L. Alton & T. H.-lst mort.
2nd mort ..... .. .......... .. . .
St. Paul & Manitoba-1st mort.
~ud mort ............. .... . .. .
Dakota kxtension-bonds ..
St. Paul & Duluth-1st mort . .. .
Texas Central -1st mort . ... . . .
Tol. Del's. & Bur.-lst mort .... .
Wabash St. L & P ac. -Gen. mort
Chicago D,vision-bonds ....
Tol. P. &Western-lstmort.
Iowa Di vision bonds ....... .
Wabash Railway, mort. b'ds
Toledo <\L Wal:>ash, 1st mort.
St. Louis Div., 1st mort .. .
2nd ·mort. Extension . .... .
Cons. convertible bondEf .. .
Great Western-1st mort . .. .
2ndmort . ... ....... .. ..... .
St. L. K. & N.-R.E.& R.b'ds .
Omaha Divisi@n-lst mort
St. Charles !Bridge-1st m .
North MiSSOlll'i-lst mort.
Western Union-Bonds coupon ..
Oregon Railway & Navigation ..
On£rce list.
Cin. Ind's St. . & Chic.-Bonrls.
Colorado Coal. & Iron-1st con .
Des Moines & Ft. D'ge-lstmort
East 'lenn. Va. & Ga. -lst mort.
4 Grand Rap. & Ind.-lst mort .. .
4 Long Isla,n d R R.-lst mort .... .
11 '.\-, em. & Char. 1st con. Tenn. L'n
17 Pittsb. Cin. & St. Louis-Bonds.
o ......
Rate $~ Pi:ice
per o:l1e Dnear
ec.21 .
cent.
Ex int.
As
7
7
7
7
7
6
6
1900
1903
1898
188.:i
·1 907
1980
1919
1930
1921
1980
1900
1931
1919
1919
1910
1900
1908
1899
1902
1882
1931
189 1
192 1
1920
1911
1920
1913
1 883
1887
1903
1908
1900
1906
1895
191 0
1905
1905
1921
1920
1931
1898
1920
1921
19t0
1920
1920
130
124
119
101
109
100
99
102
104
54
ll4
99
105
102
100
92
99
90
122
101
98
107
100
106
82
110
115
102
106
134
97
135
116
100
83
118
107
100
91
102
117
96
91
106
103
101
5·38
5 ·65
5·88
6·93
6·42
6·00
6·0(j
5 ·88
5·76
5·55
6·14
6 ·06
5·71
5·88
6·00
7·60
6·06
(-,·66
5·73
7·92
5·10
5·60
6·00
6·60
7·31
5·45
6·08
~5·88
5·66
5·22
5·15
5·18
6·03
6·00
7·22
5·93
5·60
6·00
6·59
5·88
5·98
6·25
6 ·59
5·66
5 ·82
5·94
1898
1900
1888
1890
1899
1905
'96·9
'87·9
1893
1908
1895
1896
H99
1919
1895
1905
1909
1909
1920
1906
1888
1891
189:'>
1888
1905
1905
1930
113
108
100
104
109
102
115
112
120
108
110
110
108
103
100
96
107
97
101
109
106
111
100
104
104
101
86
5·30
5·55
6 00
5·76
5·50
5·88
5·21
6·25
6·66
5·55
5·45
5·45
5·M
5·82
6 ·00
6·25
6·54
7·21
5·94
6·42
5·66
6·30
7·
5·76
5·76
5 ·94
6·97
412 1921
7 1912
7 1912
7 1912
7 1900
6 1892
6 1921
7 1920
6 1\-<15
7 1910
7 1892
7 u;97
7 1895
7 1891
7 1897
5 1931
7 1894
7 18&4
7 1909
6 1909
6 1910
5 1931
7 1909
6 1910
6 1920
5 1910
7 1907
6 1922
7 1909
7 1890
7 1889
7 1 893
7 1907
7
7
7 1895
7 1919
6 1908
7 1895
7 1900
6 1909
94
138
133
128
128
109
99
102
101
104
115
108
109
109
108
85
112
107
109
106
104
98
105
81
88
84
l14
92
105
110
105
107
105
106
105
107
113
101
121
117
106
4·78
5·07
5 ·26
5·47
5·47
5·50
6·06
6·86
5·94
6·72
6·08
6 ·48
6·42
6·42
6·48
5·88
6·25
6·54
6·42
5 ·66
5·76
5·10
6·66
7·40
6 ·81
5·95
6 ·14
6·52
6·66
6·36
6·66
6·54
6·66
6•ti0
6 ·66
6·54
6·19
5·94
5·78
5·98
5·66
1920
102
87
102
113
108
114
112
120
5·88
6·89
5 ·88
6 ·19
6·48
6·14
6·25
5 ·83
6
6
3
7
6
6
6
6
7
6
6
7
8
5
6
6
7
6
6
7
6
6
7
5
7
7
6
6
7
6
6
6
6
7
6
6
6
6
6
6
6
6
6
6
6
6
7
8
6
6
6
6
6
6
6
7
7
6
7
6
7
7
6
6
6
6
rn~il
6
6
6
7
7
7
7
7
i900
1899
1898
U115
1900
30
24
l9
1
9·
·1.A•
2
4
46*
14
l"'
5
2
·s·:
1•
10 ..
22
1
2*
7
.6.
18"
10
15
2
6
34
3*
35
16
17*
18
7
·9,:
2
17
4 ..
9*
6
3
1
13
8
·4·
9
2
15
12
20
8
10
10
8
3
·4.:
7
3•
1
9
6
11
·4·
4
1
14.*
6*
38
33
28
28
9
l*
2
1
4
15
8
9
. 9
8
15•
12
7
9
6
4
2*
5
19*
12•
16~
14
8*
5
10
5
7
5
6
5
7
13
1
21
17
6
2
13*
2
13
8
14
12
20
39-
l
ii
' 18
17
34
. 19'
ECEMBE'R,
1881.l
. INVESTORS' SUPPLEMENT.
iii
I
JJIVIJJENJJS ON RAILRO.AJJ STOCKS.
nent improvement, and be included in the eost of property. egular dividends on stocks, fairly earned for a series j Hence it can be argued, and this is certainly the more
ears, form the best test of an investment stock. Scrip ' likely explanation, that the surplus was real and was wiUidends may push up prices to high figures; and after held from stockholders because it waa thought ii oould be
managers of a company have. obtained a great part of more pr0fitably em19loyed in making improvements to the
stock iµ their own hands, these dividends may be the property. During the years of depression succeeding th&
way for them to realize a handsome profit from the panic, when earnings were constantly declining, no com.lie; but they are exceptional and out of the regular pany could feel certain what another year would bring
nel of corporate proceedings. The great evil of stock forth, or when the lowest ebb in the movement would be
dends consistc; in the fact th.at they are usually made at reached. It was the policy of prudence to hold back part
time, of large percentage, to represent ~hat ~ called of the net earnings as a sort of workiag capital with
accumulated profits of many years. Thus, in the which to carry on the necessary work of improvement, but_
stern Union case, the managers stated in their in ordinary times it is unnecessary to take any suoh predings before the court that the stock dividend repre- caution ; but these were extraordinary times. Perhaps
ed pro-fits which had been accumulating ever since money might have been borrowed w•i th which to carry
6, and really belonged to the stockholders (i)f each forward the work, but if so, it would have been at
r in which they had so accumulated. The Baltimore the high rates of interest current, and perhaps even
hio road, when passing its cash dividends a year or two then the security would have failed to command full
e, declared still in stock, and this was the fairer plan, par value.
he money having been used on the property the stock.
"Dividends ha.ve not yet reached the point a.tta.ined
ers of each particular year received an equivalent for prior to the panic. At that time 10 per cent was qui~
cash so appropriated. But, on the other hand, the common-the rule, it might almost be said; now it is the
e company carries forward from year to year a larger exception. Then pretty nearly all the prominent ro&ds
inal surplus than any company in the country, and in the country, including the Pennsylvania, New York
surplus, it is popularly supposed, is to form the basis Central (10 in 1875), Baltimore & Ohio, BosLon & Alb-~ny,
a large stock dividena. hereafter. It is useless and :Michigan Central, Chicago & Alton common and p-reseless to make a tirade against the officers of railroads ferred, Illinois Central, Delaware Lackawanna & We~tern,
ther companies who gain possession of a majority Delaware & Hudson, Central of New Jersey, Philadelphia.
the stock and then declare large scrip dividends. & Reading, Lehigh Valley, Boston & Maine, Boston &
long as the thing · is legal, and open for all Providence, pn.id that rate; now all the leading roads that
ties to undertake, it merely becomes a question of pay that rate can almost be counted on the fingers of one
ncial ability, and hundreds of those who are loudest in hand. How can we account for the decline? Except in
ir eensure would willingly do the same thing if they special instances, the smaller percentage pa.id o! Ja.te years
ld. If there is, in fact, any evil in the practice of on stocks of leading roads zr:ia.y ,be attribu'.ed in great pa.rt
king those stock distributions, it should be remedied by to the large falling off in transportation rates. It is well
; and the subject is one which invites the most careful known that on the trunk lines the volume of traffic kept
y from our intelligent legislators, that the rights of increasing even in the dullest of times. Bnt such was the
kholders may be guarded, and the enterprise of capi- decline in rates that receipts diminished, notwithstanding
sts may not be too severely checked.
the increased traffic. Of course not a few roads sufferad
n an extended article on dividends, published in the from both lower rates and smaller traffic. The coal roads
PLEMENT of February, 1881, the following comments su:ffored mainly from the decline in the price of coal.
e made, which are quite pertinent to the present topic. Some of the Eastern roads lost heavily, as in:leed did most
1
An examination of the annual reports of some promi- other roads, though in a much smaller dAgree, by the
t companies for late years discloses the fact that, dimirrntion in tha movement of passengers."
Departing from the discussion of dividend·s theoretir and above the dividends paid, there remained a surs, varying in amount in different years, which was cally, and returning to the field of Jiard facts a.nd oumuried to the credit of profit and loss account. Especially lative information, the INVESTORS' SUPPLEMENT presents to
his so in the case of many Western roads having large its readers in the patient and laborious compilation below,
ou·n ts of newly-constructed mileage on their hands. a statement of the railroad dividends in cash or stock
e subj.act is chiefly important in that such surplus may declared in the past six yea.rs. This includes the steam
sibly be made the basis of future stock dividends. roads, and not horse railroads in cities, and embraoes
ere are two opinions possible as to the character of this only those stocks which have a market at one or the
plus. It might be held that as it was all absorbed in Stock Exchanges in New York, Boston or Philadelphia..
way or another, it represents operating expenses not Stocks of companies merged into or consolidated with
rged as such. In that case any stock dividend based otker companies, and ha.vin.g now no separate existence.
the fictitious surplus would be wholly wrong. It is are not included. It should be sa.id that dividends actually
ewn, however, that many roads charge to expense ac- paid form the basis of a yea.r's total. Those declared in
nt items that could with propriety be called a perma- one year and paid in another appear in the latter year.
DIVIDENDS O~ RAILROAD STOCKS-NEW YORK, BOSTON AND PIDLADELPHIA.
Name of Company.
NEW YORK.
any & Susqut,banna (leased) ... . ...........
leville & Southern Illinoio, pref .......•...
ston & New York Air Line, pref ...........
ada Sont,bern . •. .. . . . . . . . . ••..••...•.•••. ..
tra.J of New Jersey .. . . ... .. . ...............
tral Pacific ...•.••....... •...... __ ..........
·cago & Alton ..........•....••..•• •. •.•.. .• .
Do
pref ..•....• ·······-··········
eaf
& Northw88tern .. ..... . . . .......• _...
o
do
pref ..•......... . .. .
a F1·om full ;year's earnings for 18~0.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Dividend Periods.
1876.
Jan. and July.
April anli Oct.
&140
·881oe
...:f·
··-,r·
Fob. and Aug.
~uarterly- .Jau.
1-eb. and Anf
Mar. and Sep.
Mar. and Sept.
.June and Dec.
Qunrterl7-Mar.
7
8
8
8
...2ig
1877.
7
'l¼
~lg
···si;a
1878.
1879.
1860.
7
'1
'1
11>5
Uioo
. ··11 ··
7
5
7
...8..
-
7
5
"l
.lg
lSSl.
,7
!!
.
219111t
...6••
. ..6..
619
8·
7
6
7
3
'l
INVESTORS' SUPPLEMENT.
DIVIDENDS ON RAILROAD .STOCKS-NEW YORK, BOSTON AND PHILADELPHIA-Co:NOLVDBD.
Name of Company.
Dividend Periods.
ffliioap:0 Milwaukee & St. Paul ..... ........•..
April and Oct.
April and Oct.
Quarterly-Mar.
uarterly-Feb.
uarterly-Jan.
~ uarterly-Jan.
Quarterly-Mar.
Feb. and A ug.
Quarterly-Mar.
Quarterly-Mar.
Quarterly-Jan.
Do
do
pref .......... .
Quincy ................ .
Ohio. Rock I. & Pacific (and Iowa Southern) ..
Cmc. St. Paul Minneapolis & Omaha pref ... .
Ctnn. Indianapolis St. Lmtis & Chicago ...... .
Cleveland & Pittsburg, guar. (leased> . : .. . .• .
Cleveland Columbus Cin. & Indianapolis . .•..
Danbury & Norwalk ................... . ...... .
Delaware & Hudson Cn.nal. .................. .
D&laware Lackawanna & Western . ......... .
Denver & Rio Grandej.... . ............... .. .. .
Dubuque & Sioux_ Ci~Y. (leased) ..._............ .
East Tennessee Vu·wma & Georg~a (old) . . . .. .
Erle & Pittsburg (leased) ... . ............... . . .
Georgia .•......................................
nannit>al & St. Joseph, pref ....... . ......... .
Harlem, com. (leased), inclnd'g 4th Av. RR ..
Do
pref.
do
do
Illinois Central ....•• ••.... . ........... . .......
Joliet & Chicago (leased) .... .. ..... . ....... .. .
Keokuk & Des Moines, pref. (leased) ..... . .. .
Lake Shore & Michlp;an Southern ... . .... .. .. .
Louisville & Nashville . ... . ............. .. ... .
Metropolitan Elevated (leased) ........ . .... . .
Mfohi,i?an Central .......... . ........ . ......... .
Missouri Pa.ciflc (new stock) . . ...... . ...... . . . .
:Horris & Essex (leased) . ........... . .... . ... . .
Jl'ashville Chatta nooga & St. Louis ..... . ... . .
Xew J,ondon Ncrthern (lea sed) ... . ...•.... .
l1ew York Central & Hudson .. . ........... . .. .
l1ew York City Elevate<l. (leased) . ...... .. ... .
:.Tew York New Haven & Hartford .... . ... . . .
Jiew York Providence & B oston (Stonington)
Qregon Railway & Navigation Co ............ .
Oswe11:o & Syracuse (leased) .................. .
Panama ........... . ............. .. .... . ...... .
Pittsburg Ft. Wayne & Chic., guar. (leased) . .
Do
do
special (leased)
Rensselaer & Saratoga- (I.eased) .............. .
Richmond & Danville .... . ..... . . . ..•.... . . . ..
8t. Louis Alton & T rre H aute, pref . ........ .
.Bi. Louis J acksonville & Chicago, com . ... . .. .
Co
do
pref ... .. .
fl$. Louis & San Franci1:1co, 1st pref . . •....... .
Bt. Paul & Duluth, pref . . ... .. ............... .
Bt. Paul Minneapolis & Manitoba .. .. .... . ... .
Terre Haute & Indianapolis . .... .. ........ . .. .
Union Pacilio ............ . ....... . ... . ... . . ... .
Wabash St. Louis & Pa<Jific, pref . ... .. . ... ... .
Waneu (leased) ....... . ....................... .
Que ago Burlington &
BOSTON.
Atchison Topeka & Banta Fe . ................ .
Boston & Albany ............ . . . .......... .. .. .
Boston & Lowell .............................. .
Boston & Maine ...... .. ..................•. . ...
.Boston & Providence .. .. ......•.......•. ..... .
Boston Revere Re~ch. & Lynn ................ .
Boston Clinton Fitchburg & N. B., pf. (leased)
Boston Concord & Montreal, pref ............ .
Cedar Rapids & Missouri (leased) ........... .
Do
do
pref. (leased) ..... .
Cheshire, pref ....... . . . .. . ...........•.........
Chicago Iowa & Nebraska (leased) ........... .
Chicago & West Michigan .................... .
Cincinnati Sandusky & Cleveland, pref ...... .
Concord ........ . ....... .••..••• . ............ . ..
Connecticut River .... . .... .... ............... .
Connecticut & P a.ssumpsic .. ..... .......... .. .
Detroit Lansing & !'I orthern ........ ~ ........ .
Do
do
pref .... . ....... .
East-ern, N. H. (leased) .......... . ......... . .. .
Eel River (leased) ....... .. .....•.......... , .. .
Fitchburg ..................... . ......•..... . ...
Flint & Pere Marquette, pref . ... . ........ .. .. .
1-owa F alls & Sioux City (leased) ............. .
Iowa Railroad Land Co .... . ........ . . .. . .. . . .
Kamas City Fort Scott & Gulf, pref ......... .
Little Rock & Fort Smith . .. . . . ......... . .. . .. .
Lowell & Andover (leased) ................. . . .
Manchester & Lawrence .... . . .. .... . ..... . . . .
Middlesex Central .......... . . . .. ..... .... . ... .
Nashua & Lowell (leased) .... .. ... . .... . . . ... .
Nashua & Rochester (leased) ........... . . ... .
Northern (N. H.) ..... ~, ··· · · ·· · ···· · ···········
Norw1ch & Worcester (leased) .... ..... ....... .
Ogdensburg & Lake Champlain .............. .
Old Colony .......... .. ........ . ............... .
Pittsfield & North Adams (leased) . ...... .... .
Portland Saco & Portsmouth ................ .
Providence & Worcester ..................... .
:Rutland, pref ................................ .
Vermont & Massachusetts (leased) .•.........
Worcester & Nashua ....... , ..••...............
PHI LA.DELPHI.&.
Camden & Atlantic ..............•.......••....
Do
do
pref .......•... ....•. . . .. ..
catawisea (leased) . ................ .. .. . .••..•. .
Do
pref. (leased). ...... .... ...... .•...
· Do
new pref. (leased) . . ........... .. .
Delaware & Bound Brook (leased) .....••.....
East Pennsylvania (leased) ................. . .
Elmira & Williamsport (leased) .... .. ..... ... .
Do
do
pref. (leased) ......•. .
Har!isb'g Portsm'th Mt.J.& Lan~aster(leased)
Lehigh Valley .. . ~ ......••.....................
Little ISChuylkill (leased) ..........•......... . .
Minehill & Schuyl. Haven (leased) .......... . .
Nesquehoning Valley (leased) ...•..... . .......
Northern Central ..............•.......... . ... .
North Pennsylvania \leased) ..........•• . ... ..
Pennsylvania Railroad ...........•.. . ••...... .
Philadelphia Germantown & Nor. (leased) . . .
Philadelphia&. Reading .•... . ........ . ........
Philadelphia &'Trenton (leased) . . ... . . . .... . .
·Philadelphia. Wilmington & Baltimore . ..... . .
United Companies of New Jersey (leased) . .. .
West Chester & Philadelphia ...........•.....
West Jersey ......... .... ..... . ..... . .......... .
fa) From full year's ear'hings for 1880.
Ai>i-1i ·aii«i ···oci:
April and Oct.
Quarterly-Ma r.
.fan. and July.
F eb. and Au.~.
Jan. and July.
Jan. f\nd July.
Mar. a n d Sept.
Jan. and July.
9tiai.-ter1y..:.:: Fei>:
F eb.
1876.
l
8
1878.
7
8
9
8
7
3
6
9
···1··
···s··
1879.
2~
···sig
10
7
···1··
2
...6..
3¼
3
7
...7..
8
6¼
i;&·2
s·& ·2
8&2
8
7
8&2
···s¼
4
7
'"'2· ·
l¼
5¼
3
7
6
s·&·s
8&3
6
7
7
3
7 ti:1
8
10
lOl>e
--·1··
6~
8
6
8
·10-10
10
10
·· ·9· ·
.. ·9· .
9
7
7
12
12
7
7
7
8
8
7
8
9
2¼
3~
Feb: · ·ai.;«i · ·xiii;:
Quarterly-Ja n.
Quarterly- Feb.
April and Oct.
Quarterly- Feb.
Quarterly- Jan.
Jan. aud July.
May and Nov.
May and Nov.
Jan. and July.
April and Oct.
May and Nov.
Quarterly- Feb.
Feb. and Aug.
Jan. and July.
Jan. and July.
iv.ia:i ··aiici · -Nov:
10
8
···1··
...6..
···s··
8
512
7
·--1··
7
::J
8°& .3
8&3
6
7
312
7
3
6
8
10
10
8
2
9
13
7
7
8
6¼
3
8 & 3
8&3
6
7
1:\i
8
8 (d)
10
8
llg
7
2
6
8
10
10
8
8 (g)
9
16
7
7
8
i;
8
8
...6..
4
7
4
·--s··
6
···1··
6
2
6
4
7
7
1
1
.. .6..
...6..
10
10
10
10
8
10
10
6
···s··
6
···,;··
8¼
8
4
719
8
6
5
6
4
7
3
10
···6··
···s··
···1··
<iiia.rter1'i~:riiai-:
·--oig
4
···2··
···a ..
4½)
4
3¼
5¼
319
guarterly- F eb.
1' eb. and Aug .
Jan:··ai;& · j\ii:r:
May
F e b.
May
April
June
Jau.
Jan.
Jan.
Jan.
Jan.
J an.
ann
aud
and
and
and
aud
and
aud
and
and
and
Nov.
Aug.
Nov.
Oct.
Dec.
July.
July.
July.
July.
July.
July.
.Api·1i ·aiia. ··oci:
ja,n. -and July.
8
7
10
6
6
5
7
10
6
4
6
5
10
10
10
6
2
4
6
6
6
8
···4:i;
6
5½1
6
4
. ""5 ..
2
6
5
···a-5
6
7
7
1~
10 (/'
6
5
6¼
6
7
3
6
8
5
10
8
8
9
34·26
7
7
8
5
3~
6
7
10
6
6
3
5
10
···5··
6
10
8
3~
6
7
4¼
3
6
7
10
6
7
3
6
10
...6..
10 stock.
3
8
6~
6
7
6 & 50stoc
8
4
8
8
6
6¼
6
5
7
3
8
219
6
10
8
5
.. ·,; ··
4¼
3·40
7
2¼
5
5
8¼
10 stock
7
10
6
-8
·s
6
10
5 ·
6
6
4
5
·-·5¾
···6··
·--6 ..
""'3ig
...319.. (j)
5¼
8
May and Nov .
May and Nov.
Quarterly- Feb.
.fan. and July.
May and Nov.
Jan. and July.
Jan. and July.
Quarterly-Ja n.
J a n. and July-.
J an. and July.
·M ar. and Sept.
J an. and July.
Quarterly- Feb.
May and Nov.
·Q uarterly-Mar.
Quarterly- Jan.
<..>.uarterly-Jan .
J"an. and July.
Quarterly- J a n.
.ran. and July.
8
3
'""gig
312
10
7
8&3
8&3
9
7
May and Nov.
Jan. and July.
Feb. and Aug.
Fob. and Aug.
Feb. and Aug.
June and Dec.
Quarterly-Mar.
Jan. and July.
8
3
7
9¼ (
10¾
7
619
. ..6..
4lg
3 (h:
3
8
2
6
9
6
7
5 ( .
5
512
2
...6..
8
7
7
6
7
4
2lg
7
7
7
·--oi.i
. ""5ig
llg
9 14 (c)
8¼ (d)
4
3
3
7
7
7
4¼
614
···s··
·--2··
1880.
"'"i~
7¼
and Aug .
Qua rterly- Jan.
uarterly- Feb.
uarterly -Jan.
an. and July.
April and Oct.
Quarterly- Jan.
Quarter ly-Jan.
Quarterly-Ja n.
Jan . and July.
Quarterly- Feb.
guarterly-Feb.
F eb. aud Aug.
uarterly- Feb.
uarte rly- Jan.
uarterly--Jan .
Jan. and July.
1877.
2
2
~
·--1··
.. .6..
...6..
. ..6..
5
7
7
9
5
,..7
7
10
3
6
8
7
5
7
7
4
7
7
7
7
6¼
12
2¼
10
8
10
8
3
7
5¼
7
10
···:rck>
7
7
10
7
7
3
6
5
7
7
4.
7
7
10
. ..4.(l)
...3.(m)
2
,
3¼ (J)
7
6
6
5
7
7
4
7
7
7
6
7
12
12
4¼
12
·10··
10
·10··
·10··
8
8
10
3lg
8
10
8
6
8
10
10
8
7
2
12
·10··
8
10
···4··
And 14 per cent in bonds.
(c) And 20 per cent in stook.
(d) .A.nd 100 per cent in stock.
(e) Quarterly dividends were begun with October, 1881.
(/) Dividend periods changed from semi-annual to quarterly with May, 1881.
t,)And 10 per cent in scrip.
(h) 55 per cent accumulated dividends paid in bonds.
(j) In sorip.
(k) And 3 per cont in stock.
{t) Stock
(m) And 2 er cent in stock.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(b)
STOCK AND
TAB LES.
NOTES.
These tables are expressly intended to be mied ill connection with the information concerning Investment matters, published from week
ek in the CHRONICLE-to whioh 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 efflcial "Debt Statement" is issued.
Prioea of &11 active St e cks and Bonds are quot<id 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 :
cription.-Railroads leased to --0thers will sometimes be found under the lessee's name. The following abbreviations frequently occur, viz.:
M. for "mortgage," s. r. for "sinking fund," 1. gr. for" land grant," reg-. for" registered," coup. for "coupon," Br. for "Branch," guar. t.or
"guaranteed.'' end.for" endorsed." · ''Coupon*" indicates that the bonds are coupon, but may be registered.
•
e of Bonds.- The date of issue is referred to in this column.
.·
·
of .Road.-Opposite Stocks, this means the miles of road operated, on which the earnings are based; opposite bonds, the miles covered
by the mortgage. .
.
e or Par -Yatue.-Theee figures are dollars, showing the d enominations or par value. The figures" 100, &c.," signify $100 and larger.
te Per Oent.-The interest per annum is given for bonds, but the per cent of last ditl'i<lend for stocks; g means g-olcI; x, extra.; s, stock or scrip,
Payable.-J. & J. sliands for Jan. & July; F. & A., Feb. & Aug.; M. & S., March & Sept.; A. & 0., April & Oct.; M. & N., May & Nov.; J . & D .,
June & Dec.; Q.-J., quarterly from January; Q.-F., quarterlyfrom Feb.; Q.-M., quarterly from March.
nas, principal when due; Stocks, last dimdenct.-The date in this column shows the p eriod when the principal falls due of bonds, but the time
when the last dividend was paid on stocks ~ - - - - - - - - - -- -- - - - - -
ST.ATE SECURITIES.
Subscribers TVl.11 eonCer a great Cavor by giving hDJDedlate notice oc any error discovered in these Tables.
DESCRIPTION.
For explnnations see no tee above.
Date of
Bonds.
Size or
.A.mormt
_ _ _ _ _ _ _IN,,_T_E_R_E_S_T_._ _ __ _~ , Principal-When
v~f~e. Outstanding · Rate.
bama-Substitution bonds (A) ($7,000,000).
1876
$100&c. $6,578,000
bstitn-t'n b'ds for RR. (H) ($596,000) . .... ...
1876
100 &o.
539,000
do
for A.la. & Chatt. (C) ($1,000,000)
1 876
100 &c.
931,000
.,,ducational funded debt......... . . . . . . . . . . . . .
. ..... 2,810,670
or fund. "obli~at 'm'I" (tax-rec'ble 10-20 yrs.)
1880
960,000
kansas-Funding b onds of 1869 and 1870.. 1869 to '70
1,886,000
ding Bonds 1870 <Holford).... . ............
1870
1,000
1,268,000
vee bonds (or warrants).... . ................
1871
100 &c.
1,986,773
ld unfunded debt, inoludin~ interest ..... ... . 1838 to '39
1,985,955
~n year b'ds, .ActMay29,'74..................
1874
261,500
inking fund bds,(Loughborono-h).A.ct.Deo.,'74
1875
412,000
o Memphis & Li ttle Rook Raili·oad...........
1869
1 ,000
1,200,000
o Little Rook & Fort Smith Railroad........
1 870
1,000
1,000,000
o Little Rock, Pine Bluffs & N. Orleans RR ..
1 870
1,000
1,200,000
o Miss., Ouachita & Red River R ailroad .... :
1870
1,000
600,000
o .Arkansas Central Railroad.................
1870
1,000
1,350,000
tate scrip........ . ........... . ........... .. ....
1863
....
1,353,120
liforniii-Soldiers' relief............ . . . . . . . . . .
1863
500 &c.
95,500
500,000
tate Capitol bonds·····················-······ 1870 & ' 72
....
ded debt bonds ot 1873. ........ ...........
1873
500 &c.
2,801,000
877,000
inecticut-War bonds, 20 year .... } Coupon
1863
1 ,000
ar bonds, 20 year................
or
1864
1,000
1,318,500
1,741,100
do
not taxable, 20 year.. registid.
1865
100 &c.
9 0 year....... .. . . .
ew bonds, 10-...
1877
1,000
1,031,000
laware.-Refund'g bds., ser. "A,"" B" & "C"
1881
1,000
715,000
·st.•pf Oolum_bia- l'erm't imp't, gold, coup....
1872
500 &c.
3,950,350
eripanent unprovement bonds, coupon......
1873
100 &c.
670,000
ds for fund'g (A.ct June 10, '79) coup. or reg.
1879
100 &c. 1,089,300
Fund. b'ds (U.8.guar.,.A.ctsJune,'74&Feb.,'75)
1874
50 &c. 14,636,656
arket stock, coupon..................... . .. .
1872
50 &c.
150,000
ater stock bonds, coupon .... .... ............ . 1871 to '73 1 ,000
400,000
ash. fund'g, gld,($660,000 are M.&N.,1902).
1872 _ 100 &c.
1,805,000
350,000
i:<>00
925,000 7
gia,-.A.tlantio & Gulf Railroad bonds.......
1866
500
300,500
Bonds, act of Mar. 12, '66 (renewal W. & A.J..
1866
500 &c.
3,600,000
Quarterly gold l>onds, act of Sept. 15, 1870..
1870
1,000
2,097,000
onds, act of Jan. 18, '72.... . . . . . . . . . . . . . . . . .
1872
1,000
307,500
onds for funding (Act Feb. 19, '73)..... ... . . .
l873
250&c.
500,000
Bonds to fund coupons on endorsed bonds...
1876
1,000
542,000
Bond-a exchanged for endorsed RR. bonds....
1877
1,000
2,298,000
idiana-Bonds, coup. (pay'ble after .A.pr.1,'84')
1879
510,000
School fund bonds (non-negotiable)............
. • . ...
3,904,783
nsas-Bonds, 1861 to '69, funding, &c ....... 1861 to '69 lOO&c.
101,175
Bpnds for various State purposes .............. 1861 to '75 100 &c.
739,000
Mllitary loan .. .. ...... •..... . .. .......... . ... .. t864 to '65
289,000
i;ooo
~~~!!~: ;ii1t:oi;cis·c$aoo;ooo ·are· isf:::
½~+~ ·
Alabama.-The State gave 30-year bonds, dated July 1,.1876, beat'in~
per cent till 1881, then 3 per cent till 1886, 4 p er oent till 1896, and o
r cent for last 10 years, for old bonds, without any allowance for paste coupons. Alab:1llla & Chattanooga endorsed bonds were exchanged
r $1,000,000 of the new bonds, Class C, which bear 2 per cent tili 1881,
d 4 _\)Cr oont for r emaining 25 years. For railroad endorsem ents the
nds issued bear 5 per cent. In 1880 the new 6 per cent bonds were
ued to retire old 8 per cent "State obli~ations." Analysis of the
t and funding operations was given in tne CHRONICLE, V. 24, p. 28.
r the $2,000,000 of State 8 p er cent bonds issued to the A.la. & Chatt.
R. under act of Feb. 11, 1870, the State gives the lien on the lands
nted to that railroad, 500,000 to 1,200,000 aeres. Tax rate, 1879-SO~
mills; 11880-81, 6¼ mills. The assessed valuation of real estate anu
:l 'lilonalty was $126,773,262 in 1879 and $123,757,072 in 1880. (V.
94 V 2"'
199 V 32
'p.
; · 0 ' p.
~ · 'p. 182 .)
.Arkansas.- The State Supremfl Court decided Levee bonds of 1869 and
870 invalid. The State is in d Jfault for interest, except on the 10 p er
nts of 1874 and secured sin.king fund · bonds issued under the law of
ember, 1874. The total recognized debt is $ 5,813,6271 and State
sets (land and sinking fundk $5,274,712. Assessed valuation of taxle property in 1880 about .:r,90,000,000, and tax rate 7½! mills. The
"llowing are the latest official assessments:
R eal E state.
Personal. Tax Rate.
29 942 103
10
$3 ,971 ,308
. · · · · · · · · · · · · · · · · · · · ·· · · ·
•
'
1.
,
lO
877. ... . . . . . . . .. . .. . . . . . . . .. 55,713,115
32,366,893
7
78... ..... . . . . . . . . . . . . . . . . . 55,351,488
32,613,686
7¼
(V. 28, p. 171, 276; V. 31, p. 88,204, 303; V. 32, p. 566; Y. 33, p. 328,
25.)
Oatifornia.-The State holds in trust for School and University funds
e $500,000 Capitol bonds and also bonds of 1873, in all $1,244,000.
esessed valuat10ns and rate of tax per $1,000 have been:
Years.
Real Estate.
Personal.
Total Valuation. Tax Rate.
875. •· •· •· $418,840,023
$ 1 99,2 4 3, 2 92
$618,083,3 1 5
$6·50
876 ... •... 454,641,311
140,431,866
595,073,177
7·35
878 ........ 458,172,198
1 2 8,780, 824
586,953,022
6· 2 0
879 ...... . 466,273,585
118,304,451:
584,578,036.
5·50
Oonnectimt.-The debt of Co~ecticut was all cr~ated originally for
ar purposes. Assessed valuat10n and tax rate per $1,000 ha-ye been:
Yea.rs.
Real Estate.
Personalty.
Tax R 3:te.
877 ....... . ..... . ........ $238,027,032
$106,379,945
1 50
~ . ·•················· 235,412,691
99,970,163
1·50
9J. !' , ' -· .. ..,,.. .. . .. 228,987,700
95,901,323
1·50
!jQ:i_ . ~ j . '! •• . Z ~ ·. ,• ..•.~; •c
·$327,182,435>----e assessed valuation of real estate is about 70 per cent of the true value.
Delawa.re.-'Ihege refundi111g uonds issued July, 1881, take up outding debt. Series ".A" are $250,000, redeemable July, 1882 to
~+i· ·····-··················$~½·~~~,g~r
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
P~!t~e
Where P-Wii~1::i~ and by
Due.
-----1- - - ---1------------1-------J. & J. N. Y., Importers' & Tr. Bk.
J. & J.
do
do
J. & J.
do
do
July 1, 1906
July 1, 1906 July 1, 1906
··if
J."&.J.
6
6
J. & J .
Jan~'i,"i900
1899
1900
1900
3 &c.
5
4 &c.
J . .&.. J.
7
10·
6
7
7
7
7
Montgomery.
N. Y., Union Trust Co.
do
d9
J ..&.. J.
Little Rook, Ark.
J. & J . New York, N at. City Bank.
A.. & 0.
N. Y., Union Trust Co.
A.. & 0 .
do
do
A.. & 0 .
do
do
A. & 0 .
do
do
A.. & O.
do
do
7
5&8
7 g. J •.&.. J .
7 g. J. & J .
6 g. .T. & J.
J. & J.
6
J. & J .
6
A. & O.
6
M. & N .
5
J. & J.
4
6 g. J. & J .
.r. & J.
7
J. & J.
5
F. & A..
3·65
J. & J .
7
J. & J.
7
6 g. J. & J.
....
7
g. J. & J .
F. & A.
J. & J.
7
7 g. Q.-J.
J. & J.
7
A.. & O.
8
J. & J.
7
T. & J .
6
A. & 0.
5
Various
6
July.
6
J. & J.
7
J.
& J.
7
&i
·1ss¥·
·1so9·
1900
1900
1900
April, 1900
·1sss·
Sacramento, Treasury.
1885
do
do
1893
do
do
Hartford, Treasury.
Jan. 1, 1883
Jan. 1, 1884
do
do
Oct. 1, 1885
do
do
May 1, 1897
do
do
Phila., Phila. !llat. Bank.
1886,1891,1901
July 1, 1891
Wash. or N. Y., U.S. Treas.
July 1, 1891
do
do
July 1 , 1899
do
do
Aug. 1, 1924
do
do
July 26, 1892
do
do
Oct. 1, 1901 to '08
do
do
1892 & 1902
do
do
N.Y.,Donnall,Lawson& Co.
.raii.~ · ·ioo3
do
do
Feb. 1 , 1886
N. Y., Fourth National Bk.
May, 1886
N. Y., National Park Bank.
Oct., 1890
do
do
July, 1892
do
do
April 1, 1886
do
do
July 1, 1896
do
do
Jan. 1, 1889
do
do
April 1, 1889
N. Y., Winslow, L. & Co.
do
do
1883°to'84
N. Y., Am. Exch. Nat. Bk.
1884 to'99
do
do
1884 to'99
do
do
r,
1886; series "B," $300,000. redeemable July, 1886 to 1891; series "C,' '
$165,000, ·redeemable July, 1891 to 19()1. (V. 32, p . 500.)
District of Oolttmbia.-The total assessed value of taxable real esta~
and per1:1onal property is shown below. The interest and sinking fund
on the 3-65 bonds are provided for by Congress; the act ot June 16,
1880, allowed further issues of these bonds to the amount of $1,256,750.
R eal and p ersonal estate, &c .• has been assessed as follows:
Real Estate.
Personal.
Tax: Rate.
1877
$9" 929 401
$15 419 873
$15
.J, 60 ' 890
17 ' 239 ' 051
15
1878 · · · · · · · · · · · · · · · · · · · · · · · · · 97
·
····
·
•·
·
·
·
···
·
·
··
·
···
··
·
,
~,
,
,
87 49 442
13 363 920
1879
,
,
1$
15
1880 · · · ·· · · · · · · · · · · · ·· · · · · · · · 87 •980 •356
············· ·· ··· ·· 88 •953 •078
io,89fi,7i2
188 1.··· ·· ··
15
· ·· .. · · · · · · · · · · · 0 • • • • •
,
,
-V. 31, p. 88,122,304,381; V. 32, p. 69.)
Florida.-Less the sinking fund of $143,900, and Jacksonvme Pensa-cola & Mobile loan, the total debt is $1,149,800, which does not include
$132,000 bonds of 1857, held by Indian Trust Fund. Coupons of the
rd ted b d
· bl f t 08 R al d e 80 1
rty
~~~:~!l in
a~: r$i;,4~1,i2~~
·rat!,
1111;
$30 938 209 t
te 7 mill
(Y 25
212 v 32
100)
'
'
' ax ra
s.
·
' p.
·; ·
'p.
· ·
Georgia.-The constitutional amendment in 1877 declared void several
issues of bonds and railroad endorsements. There were issued $400,000
0
f:'t~!f~~!r~ l~~~ss!d\aJu:~C:Ila!\~1e ~2r
i~v:1t~e~s;nY ears.
Real Estate.
Personalty. Rate of Tax. Tota1 Debt.
506 280
$5 00
$10 644 5
1877 ......... $140,153,2 5 0
$9 5 ,
,
·
' ,
, 00
1878.... .. . . . 134,635,886
91,585,832
5·00
10,444,500
1879 ......... 134,244,081
90,849,338
3·50
9,951,500
99 , 276 ,876
1880 -- · · ·· · · · 139 , 657 , 250
3 ·50
are also $139,000 of 6 per cent war loan bonds
1
Indiana made a compromise with her bondholders in 1846, givin"' them
State stock for one-half of their bonds and overdue coupons, and Wabash
& Erie Canal stock for the bala,n oe, about $7,500,000. The canal baa
proved worthless, and the creditol'S claimed payment for their shares
from the State. Valuation, 1879, all taxable property, $884,368,828,
against $850,616,987 in 1878. Tax rate, 1·3 mills.
Kansas.-Kanaas has but a small state debt. but the issue of mtinicipa.l
bonds was about $13,000,000. The valuations (at one-half of true.
. value) have been:
Rate of Tax
Total
R eal
P ersonal
per $1,000.
Debt.
Years.
Estate.
Property.
$5 50
$1,181,975
1877 ....... . ..... $97,483,242
$39,997,287
5 50
1,181,975
1878 . . . . . . . . . . . . . 97,567,623
41,131,187
5 50
1,181,975
1879 ........... . . 101,229,734
43,700.545
1880 ........ ., ... 108,452,039
52,138,722
6 50
1,181,975
-State funds hoi.i $715,700 of the bonds.
fs1s
!eY:J
-}Yid1J~f:!~gJre
t:X
rm&:; 1t; fs~Y:
i~~ooo
STATE SECURITillS.
vi
[VOL. XXXIIL
Subscribers wUl con.fer a great Cavor b y giving immediate notice o C any erro r dlsooTered in thMe T a bles.
DESCRIPTION.
For explanation see notes on first page of tables.
Date 01'
Bonds.
Louiriana-Bonds for relief of State Treasury.
1853
Bonds in aid of var ious railroads . . .....• . •....
·is66
Levee bonds-Act 35 of 1865 , ...•......•......
do
Act 115 of 1867 ... . .... . ...... • .
1867
do
special-Act 32 of 1870 ........
1870
Bondi funding cou&ons . ........ . •......... . ...
1866
do to Boeu:t &
ocodile Navigation Co . . .
1870
do to Mississia_pi & Mexican Gulf Canal . .
1869
do schoo hel by St. Treasurer .. .. .. ... .
1857
do to N. rleans, Mobile & Chatt. RR .... .
1870
do to N. Orleans, Mobile & Tex as RR .. ... .
1 871
N. o. Mob. & Texas RR. bonds, end. by State
1 869
Consolidat ed funded b ond s . ... . ... .. ....... . ..
1874
Twoe, fours and threes (see n otes belovr) .. .. ..
1880
1 8 63
.Mairnr-War loan bonds .. . .. . . . . ....... \ Coup .
Bount y loan b onds . . .. .. ... . . .. . ... . .
or
1864
1 868
. Municip al war d eb t assumed . . ....• . J r egisFour per cent bonds. .. . . .. . .... . .... . tered.
1880
Maryland--Balt im ore & Ohio Railr oa a, sterling
183 8
Chesapeak e & Ohio Canal, steding . ........ . . .
1838
Railroa ds and canals . .. . . . .. ... ... ... .......... Var ious,
Eastern Shore R ailroad .. .. . ... . ....... . .......
1839
B al-timore & Susquehanna R a ilroad . . ...... .. .
1 837
Chesapeake & Ohio Ca n al . . . . . . . ... . . . . . .. . ....
1 870
B alt imor e & Susqu eh anna Railroad .......... .
1 839
Anna.polis & Elkridge Railroa d .... . ... . .......
1 839
Defense Bounty Loa n .. . .... . ...... . .. .. .. . ... .
1 868
D eaf and Dumb As~m Loa n . .... .. ...... . .. . 1870 & '74
M a ryland H ospit al
an, 10-15 years ......... 1872 & '76
M aryland State Loan ...... .. .. . . . .. . ... . ...... .
1872
Treasury relief loan, 10-15 years ..........•...
187 8
Massachusetts-Coast Defense LOan .. ...... . ....
1863
Bounty F'und Loan ......... . ....... . ....... . ...
1863
1864
Bountl Fund Loan . ..... . ...... . ...............
o
do sterling . . . ... . . . ... .. ... . ..
1864
War Loan, sterling . . . . ............ .. .......... .
1869
Troy & Greenfield Railroad loan, sterling ..... 1858 to'61
do
do
home .... . . 18&-1 to'63
sterling . ....
do
do
1871
sterling . ... .
1875
do
do
dolla r bondF! 1873 to'74.
do
do
1875
do
do
do
Bout hern Vermont Railroad Loan .......•. . ...
1860
Boston, Hartford & Erie Railroad, sterling . . . 1868 to'69
Harbor Land Improvement (5-206) ............ 1874 &'76
Danvers Lunatic Hos pital . . ...... . .... . ... . ... 1874 &'77
Lunatic Hospital, Wore.ester .... . .. ............ 1875-'76
New State Prisons, sterlmg·...... .. ........ . ••.
1875
1863
Miekigan,-Two Million Loan . ....................
War Bount y Bonds . .... .. . . ... . ........... . ... .
1865
Min,usi,ta-State Building loan, coupon .........
1873
T emporary seed grain loan . . ... . ... ....••.....
1878
Railroad Bonds (not recognized in full} ..... .
1858
Adjustment bonds , for $4,000,000 ....... . ... ..
1 882
Missouri-State bonds, proper . ...... . ....••.. . .. 1865 to '66
Consolidated bonds . ............................
1868
1872
Universit:fr and Lunatic Asylum bonds . . ..... .
State Ban stock r efmiding . ... .. . . . •• . . .......
1874
Bon ds to Nort h Missouri Railroa d •............ 1854 to '58
Bon ds to Cairo & Fulton Railroad . ............ 1857 to'59
Bpnds to Platte County- Railroad .. .... . ....... 1859 to ' 60
Bonds to Iron Mountarn Railroa d . ........ . .. . 1854 to'59
Pacifl.c Railroad of Missouri. .. ... ............. 1853 t-0 '59
1874
ooui>·.·
·<aoi Meli: 29; •"ii: ; 1875--6-7
H~nibal & St . Joseph Railroad .... . .. . . .... .. 1857 to'75
1874,
do
do
r enewal. .....
.Nelwaska--Bonds (a ct Feb. 14, 1S77) coupon ...
1877
New Hampshire-War loan, coupon bonds . .....
1864
1872
Municipal war loan ............. . ...............
1879
Loan of 1879j or refunding ...... . ..•..... . .. .
1879
·p rison loan .. .. .......... . .. . .. . . . ...... . .......
Ne:w1Jersey-War 10an bonds, tax free .....••... .
1861
1863
War loan bonds, tax free ..•....... . . . . . ... . ....
do
do
taxable ..•. . . .. . .. . .•. . .....•.
1864
3
I~~i!i ~1:it~
·5-·2os·:
Size or
~~e.
Amount
outatauding.
$500
1,000
1,000
1,000
500
100 &o.
1,000
1,000
1,000
1,000
1,000
1 ,000
100 &o.
500&c .
500 &c.
100 &c.
lOO&c.
i,ooo
5Jo<>rc.
£100&<.'
.£200
£200
500 &c.
200 &o.
£ 500
1,000
1,000
5,000
£200
1,000
1,000
1,000
£500
1,000
1,000
1,000
1,000
1,000
i,ooo
1 ,000
1,000
1,000
1,000
1,000
1 ,000
1 ,000
1 ,000
1,000
1 ,000
1,000
1,000
1.000
1x,oon
1
&c .
1,000
500 &c.
&o'r
100 &c.
too &c.
$61,000
273,000
4,9,000
98 ,000
23,000
-i8,000
80,000
260,000
4'8 ,000
7i,OOO
2,500,000
875 ,000
11,389,900
1,649 ,4'05
3 85,000
2 ,330,000
2 ,826,9-00
307,000
1,995 ,555
2,436,66 6
1 55,615
3 1,069
2 69,000
5 28 ,355
2 98,435
6 2,60 5
3,326,750
225 ,000
465,000
9 65 ,554
5 00 ,000
8 88 ,000
200,000
4',379,500
4,000,744
999,944,
5,506,9 52
1,366,500
3,598,540
1,4 97,980
670,000
1,300,000
200,000
3,~99,024
700,000
1,500,000
1,100,000
1,292,280
590,000
299,000
175,000
115 ,000
2,275 ,000
(')
4 3 9,000
2,727,000
4'01,000
104,000
1 ,693 ,000
267,000
504,000
1 ,361,000
2 ,972,000
1,000,000
3,850,000
1,501,000
1,4.99,000
449,267
600,000
2,206,100
4,00,000
· 126,000
4.00,000
902,900
~93,400
Louikuma.- The Constitutional amend.med passed Deoomber, 1879,
provides -for a n e w bond in pla.ee of console of 1874, bearing 2 per oont
tor 5 years, 3 per cent :for 15 yea.rs and 4 per cent afterwl\l'da, on whioh
basis the interest chMge oor year for oonsols is $235,542. To June
1881, the 2 ,er oent.8 issued were $201 ,300, 4 per eent&, $186,lf>0 i and
3 per oents (baby bonds), $1,261,955. The aasosaed value or propeny for
1889 is $149,635,80:'>, ane1 ta..x is limited to 6 mil.ls. The interest tax
alone was 512 mills before the constitutional amendment, and boudb_olders a.re trying to enforce its oollootion by suit; 1n Dooember, 1880,
an injunetion wa.s granted against the state Trea.surer to p revent llie
diverting the interest funds. There is eonsidera.ble overdae intere.'>t o:r
the yearf! 1874 to 1880 incmsive. A. suit is pendin,g by the State of New
Hampsltire against Louisiana on her bonds. Taxa ffle valuation for 1881
about $176,000,000. (V. 29, p. 18, 96, 277, 8 30, 358, 631; V. 30, p.
117,493; v. 31, p . 88, 559,606; v. 92, p. 468; v. 33, p. 23.)
.Maine.-Tbe d ebt January 1, 1881, was $5,883.900. The s1.nking
u Dd $1 ,307,857. Tax rate for 1870, -i mills; tor 1880, 5 IilillB on valuation of 1870. (V. 31, p. 205.)
Jla~nd.-The State baa lari:rely MSisted canals and railroads, and
holds
,44.4,585 of stocks anabonds ranked n.a pr~uotive;, the 8t&te
also hods $25,726,051 in anproduottve soeurities. ASSe&SOO valuation
and tax rate have been :
Real and
Tax Rato,
Personal.
per $100.
Yea.rs.
1714,c.
1877 · •• ··· · · · · ····•· ........... .. ..... . . $4.78,468,028
464,42~,790
18%c.
1878 .... . .. . ···· · ······· · ·· · · · ······· · ··
466,637,502
18¾c.
459,187,4'b8
18:\,i,c.
-(V. 28, p. 42.)
Mauachusetts.-Tbe funded debt.,_ January 1, 1881, was $39, 799 1~64 .
The sinking funds w ere $13,050, l 9:.;. 'l'he Hooaao tunnel a.Jld oonnootiona
cost the State heavily. A.sses8ed valuation, tax rate, &o., have been :
Real
Personal Tax per
Total
Sinking
Years.
Estate.
Property. $1,000.
Debt.
Funda..
1876 •••. $1,262,141,092 $860,958,487 $12 ~ $'.18.866,464 $14,294,238
1 877 . . . . 1,191,583,169 822,289,966 12 84 83,550,464 13,635,490
1878 .... 1,118,557,164 761,266 ,IS74 12 M 83,21 9 ,4G4 18,448.194
1879 .... 1,09-0,749,285 742.533,998 12 7 8 83,020,464 Ul,286.248
1880 . . .. 1,111,160,072 816,695,858 15 s:s 82,709,4.64 18,05@,092
The loan to Bost.on Ha.:rtford & Erie Railroad WM eoour ed b y
" B ard ell" mortgage bonds1 afierwards exchanged for N. Y. & N. E. R.R.
~ , and had: a. sinking rund of $1,~13,678 Jant1a17 l, 1881.
• .Jfiel.igan.-The debt is prootlcally extinguished, as the sin.king fund
hae snffielent assets to meet Ule debt. Equalized Taluation of real a n d
½ll~ :·:::::::::::::::·.·.·.-_::::::::::::::::
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Rate.
INTEREST.
When
Where p-:h~~ and by
Payable
- -6 - J.--& J.
Various
Various
M.&N.
6
8
6
8
6
M.& 8.
8
7 ·30
6
8
8
8
7
2, 4,, 3
6
6
6
4
5 g.
5 g.
5
5
3
6
6
6
6
6
6
6
6
5
5
5
5
5
5
5
5
5
6
5
t>
5
5
5
5
5
6
7
7
6
7
g.
g.
g.
g.
g.
g.
g.
g.
g.
g.
g.
g.
g.
g.
g.
g.
g.
.t¼
6
6
6
6
6
6
6
6
6
6
6
6
6
8
6
6
5
..6.
6
6
·~~~1:
........l
July, 1893
1872tol906
1886
May 1, 1007
Ma.rob 1, 1875
1886 &'88
Jan. l, 1890
1899
1897
July 1, 1910
Apnl, 1911
Amount, not
J. & J.
• • ••. .. .
fund.able,
J. & J.
80,000 par report of
M . &8.
260,000 Ja.D.. 1, 1878.
4,8,000
Various
70,000 .
J. & J .
A.. & o. 2,500,008
875,000
.J. .& ..T.
Jan::·1914
N. Y ., Bank of~- Y .
J. & J.
New Orleans.
1886&19U
M. & 8.
Boston, Bu.tfolk Bank.
March 1, 1883
J. &D.
do
do
.June 1, 1889
A. &O.
Oct. 1, 1889
Auffu:sta and Boston.
F. & A.
Bos n, Sufl.'olk Bank.
$25,000 per year
J. & J .
London, Baring Bros.
1890
J. & J .
do
do
1890
Q.-J. Balt., Farm. & Mereh. Bk.
1890
do
do
A. & O.
1890
do
do
1890
1uart'J.
. &
.
do
do
1885
Q.-J.
do
do
18 90
A. &O.
do
do
lb90
J. & J .
do
do
188:S
do
J. & J .
do
1885 & '89
J. & .J.
do
do
1887 & 1S91
do
da
1887
.&
..
J.
do
J.
do
1888 to 1893
J. & J .
Boston, Treasury.
July 1, 1883
.T. & J .
do
do
July 1, 1883
M. &N.
do
do
May 1, 1894
M.&N.
London, Ba.ring Bros.
May 1, 1S94
J. & J.
do
do
J ~ 1, 1889
A. & 0 .
do
de
Oot.ll 88'8 to '90
Boston, Trea.8ury.
A. & O.
A.pr · , 1891 & '93
J. & J .
London, Barmg Bros.
Julyi 1891
do
d-o
J. & J.
Jan. , 1895
J. & J .
Boston, Treasury.
1893 & •94do
do
.J. & J .
J ~ 1, 1895
A. &O.
do
do
Ap 1, 1890
London., Ba.ring Broe.
J. & J.
Jul]' 1 1999,
J. & J.
Boston, Treasury.
Sopt. 1. i ~ 9 6
Variou.s
B06ton, Treasury.
'94-Sep l,'97
do
do
Va.rioUB
'95-Sep l,'96
London, MoCalmont e.
J. & J.
an. 1, 1895
j, & J. N. Y., Am.. Exchan~ Bank.
Jan. 1, 1883
M . &N.
do
o
May 1890
J. & J .
St. Paul, Treasury.
July i. 1883
J. & J.
d1>
do
Optiona.1..
J. &D.
Doo.. 1887
··isgs·
J . .& .J. N. Y., Ba;.;_k·ei ·commerce.
J. & J.
d.o
do
1888
do
J. & J .
do
J~, 1892
.J. & J .
do
do
A.p
1, 1894
do
J. & J .
do
1881 to'88
do
do
J. & J.
1881 to '89
do
00
1889 to'90
J. & J .
do
do
J. & J.
1881 to'89
do
do
J . & J.
1886 t.o'89
do
do
J. & J.
July, 1894- & '95
do
do
1895-6--7
J. & J.
.J. & J .
do
do
1887 to'95
do
do
J. & J.
1894-o-6
State Trea8ury .
A. & 0 .
April 1, 1897
Conoord or Boston.
.M. & 8.
Sept., 1884 & '89
do
do
Jan., '92 to 1905
J. & J.
J. Ir, J . Boat..Nat.::Bk. Oom.nu1nw'lth Julb 1, '89-'90-'91
do
do
J. & J.
Ju y , 1882 to'91
.Jan., 1881 t.o '84
J. & J.
J'ersf City. ·
0
Jan., 1886 to '96
J. ,.,, J.
do
Jan., '97 to 1902
.J. & J .
1
Q?{
J:
pet'80nal prope.l'g', 1881, about $810,toO,OOO, and tax rate for 8'ate plll'
poses l 4-10 mills on tJ:i.e $1.
Minnesota.-All the State bonds are now hcld by the permane11, sehoo
fund. Minnesota bas refuAed t.o rooogn:i:1e the "State Railroad Bonds" of
1858, to the a.mount or $2 '1:75 000. A. proposed oompromi.se with the
holders was provided for in 1881, and le tn prooess of exooution by
the issue of the 419 per cent bonds. Taxa.ble va.lua.twns and sroto ta.x
have been:
Years.
Real Estat~
Personal.
Tax Ro,te.
1878 . . .. . .... . ..... . ......... $183,61.~,73'8
$46,175,30!,.
2~
1879 . . . . .. ... . .... .. .. . . . . . .. 1"9,246 ,69~
53,~25,017
1 ·625
1880 .... .. ... . ......... . ... • . 203,473,637
54,581,906
1•615
T nx for 1\1.l pu'f'l)()E!66!1 in oonnties ave~ee 17~ mills. (V. 321_p . .t9, 183,
265 , 368; v. 33, p. 74., 126, 282, 2 94, 304, 329, 404, 433, 4it1, 502, 688,
687.)
Jlissouri.-Tb0 valuation of real and perBOn&l property in 1879 was
$!529,217,474, of which $681 ,M5,~64 was real and $.147,661,910 11er
souaJ.. Railroads a.nd bridges were M8088ed 86l)IU'ately at $29,14.8 968.
The tax rate is 40o. per $100. Bonda matwing are met 1)1' sale ot
renewaJ bonds a.nd by sinking fund. The Han.nlbal & St. J oaeph RR.
provides for its own debt. (V. 27, p. 200, 400; V. 30, p. 467; V. 32, p
685; V. 83, p. 6 87 .)
Nebraska.-The ~~hool fund holds$326,267. There a.re also $:s(),
000 10 per oont .. GroM.hop per'' bonds due 18 85, interest paid Januu;y
and J'~. A.ss08800 valua.tl,on (33:lo per oent 01' true value) a.nd tax rate
per $1, 00 have be0n:
Pe1."80Ual.
Yoo.re.
1876 ............... ... ... . ..
1877 . . ... ......... . . . .. . .. ..
1878 ... . .... . ...... . ... .. ...
1879. ... . ... . . . .. . . .........
18so. ... . •. . ... .. •• .... . ..•.
Re-.al Eatatie.
$40 ,589,285
87,97!5,98'7
89,268,823
88,.878,4-09
63,850,147
Railroad, &o.
Ta.x Ra.t;e.
$ 33,589,360
33,385,69 1
35,126,718
36.,981,389
86,649,471
6 3719
, oo ·
$7 35
6 8719
6 871,
New Ha~N.-The debt of New Ham.pa.lme WM CreMOO. M war
'l'he Munieipal loan of 1872 waa i8sued to cities and WWll.8,
l, proooeds to be app1ied to their ww debt& Total v a.luatl,oll .la 1879,
OtT.969,0 17. Tax rate, $2 per $1,000. (Y. 29, p.171,)
ioperty p1niit
NOtll Jel"'l!e,t---'l'hfl deM W88 created for WaP parpoee&. 8.lnJr::btJf fa.Jlille
Ja.n. 1, 1880, were $1,4~. Ot the first elaaa o1 bonds the
is pay able $100,000 per year. Valuatlon of real
$436,082.,63~ I ~
al (t.6xableJ, ~.M.
80, t.o
a.gain.st $50ij,892,338 b1 1879 a nd '581 18 ~1,84.9 ta 1
tax, 2 m11.ls.
.
. t,.8
in 1 · ,
'618 ,817,6 't
8 . St.tie
.
saee,
S:TATE ~ECURITIES.
188l.J
vii
Subttcrlben w1D conf"er a great Cavor by giving bnm.edlaie noUee oC any error dlscove!ed In these Tables.
DESCRIPTION.
or explana-tions see notes on first page of table&
Date of
Bonds.
Size or
.A.mount
par outstanding.
Value.
INTEREST.
Rate.
When
Payable
Principal-When
Due.
--------·-----------:1 -----1-----1------1---- ---•-- - - - -------i----1875
$173,000
6 g. J. & J . N. Y.,Manhattan Qo. Bank.
Oct., 1893
Po:ao 1,562,900
1872
6 g. J. & J.
do
do
July, 1887
,bd~r:tl
~ : : : : b t { Under Art. 7, Sec. 3, of Con-{
' s:titution, and Art. 7, Sec. 12.
1873
1873
1874
. 1879
orth Oarolina-F.mdin~ bonds tax-receivable.
Old bonds in prncess of funding ........... _.. .
Bonds to North Carolina Railroad ..... .. _. ... .
Railroad bds, not fund. (Chatham and W.&T.)
Registered certificates of literary fund ...... .
1867
Penitentiary bonds, act Aug. 24, 1868. __ .... .
1868
Special t~x bonds ............................. .
Ohto-RegIBtered loan of 1881.. ... . ...... ..... . .
. issi
Registered loan, payable after Dec., 1886 . . . .
1856
ennsytvania-Reg. bonds, tax fr., (red'ble '92).
1877
Registered bonds, tax free, 15-25 years.......
1879
Coupon loan (excev.t $53,000 reg.), April 2. .. .
1852
do
Apnl 2 ..................... _.....
1852
Stock loan of Feb. 2 (registered) ............. :
1867
do
do
(registered)....... . ......
1867
do
do
....................... .. .
1867
Agricultural College land scrip............ ....
1872
ho<Je Islana-W ar bonds............. .. ........
1862
War bonds......................................
1 863
do
................................ .. ..... .
1863
do
..................... . ..................
1864
ou,th Carolin a-State !:iouse stock a nd bonds . !853 to '54
Fundin~ bonds and stock......................
1866
:Blue Riage Railroad bonds....................
1854
Funding bills receivable ....... , .............. .
1868
Payment of interest............ . . . . . . . . . . . . . . . .
1868
Funding bank bills.............................
1868
Conversion bonds and stock..... . ..... . . . . . . . .
1 869
Deficiency bonds (act March 22, 1878) . . . . . . .
1878
Consol. bonds (Brown), (A.ct Dec. 22, '73)...
1874
.l'ennessee--Funding bonds, act of 1873..... .. ..
1874
Bonds regist'd, a ct of 1873,($292,300 are 5s) . Various.
Held by E.T. University (not to be funded) ...
Funding bonds (aot of March, 1881).... ......
i881
fexas-Funding State debt (act Ma.y 2, 1871)..
1872
Frontier def'se,gold,act Aug.5/70(red'ble '91)
1871
Revenue deficieucy boncts, act D ec. 2, 1871 ..
1872
Bonds, act Mar .. 1874 (for paying float'gdebt)
1874
Redemption ot d~bt, act Aug. 6, '76......... .
1876
~onds, act April 21, 1879....... . .. . .. . . .. . . .. .
1879
Virq,inia-Old bouds. % fundable ............ . .. 1851 to '66
Old oonds, stel'unf., not required to }?e funded
1851
Consol.) Act MM. 71) coup. tax receivable... .
1871
do •
do
r eg., conv. into coup...
1871
do
( Act 1872) "Pealer," cp. not rec'ble .
1872
DeferredMrtificates (W. Va.)............ .. ....
1871
New funding uonds, 10-40s, ($44.9,300 reg.)..
1879
do
do
sterling.. .. . . . .. .. . . . . . . .
1879
~Eg
~.ss~
$50 &c.
500 &c.
1,000
1,000
i,ooo
1,000
100 &c.
100 &c.
100 &c.
100 &c.
1,000
1,000
50&c.
50 &c.
50 &c.
i,ooo
1 ,000
1,000
1,000
1 ,000
50,&c
1,000
1,000
1,000
500,&c.
500,&c.
500 &c .
1,000
1,000
1,000
1,000
847,500
4 ,302,600
2,000,000
2,211,616
6 g. J. & J.
6 g. J . & J.
6 g. A.. & 0.
4
J. & J. N. Y.,
6
Various
6
Various
(1)
2,795,000
1,180,000
383,045
44,000
11,366,000
2,800,000
2,400,000
8,000,000
2,000,000
395,000
87,000
9 ,251,850
814,300
71,750
500,000
965,000
200,000
631,000
738,000
143,000
35,900
103,000
32,000
132,000
104,750
·1 33,700
551,500
2,641,000
4,880,000
14,929,300
397,000
6
6
6
6
J. ·&·J.
A. & 0.
& 0.
& J.
& J.
& A.
& A.
& J.
& J.
& A.
A.
4
J.
6
J.
5
F.
4
F.
5 g. J.
412g. J.
6
F.
5
5
(1)
75,000
i,000
692,000 .. ·
1,000
500,000
1,000
1,000,000
1,000
1,64 7,000
100 &c
533,700
500 &c.
3,030,088
1,302,851
£100 &c·
100,&c. 13,474.,800.
100,&c.
895,147
100,&c.
2 ,394,305
Various 15,239,370
8,171,600
3
346,000
3
F. & A.
6
F. & .A.
6
....
6
M . & S.
6
A.. & 0.
6
J. & J.
6
F. & A .
6
J. & J.
6 g. J. & J.
6 g. J. & J.
6 g. A.. & O.
6 g. A.. & o.
6 g. J. & J .
6 g. J. & J.
6
J. & J.
6
J. & J:
6
. J. & J .
& 6 J. & J.
6
J. & J .
3
J. & J .
6
Various
7 g. M. & S.
7 g. J. & J.
7 g. J. & J.
6 g. J. & J.
5
J. & D.
6
J. & J.
J. & J.
5
~
6
J. & J.
6
J. & J.
to 5 ,T. & J.
to 5 (
& J.
f %f
do
do
Jan. 1, 1883
do
do
July 1, 1891
do
do
Oct. 1, 1892
Nat. Bk. of Republic.
1909
do
1868 to'98
do
1883 to'85
do
1868 to'98
Raleigh, Treasury.
Indefinite.
New York.
Oct., 1898
do
1898 to '99
N. Y., .American Exch. B'k. At will, 1882-'86
do
do
J an., 1887
Phila., Farm. & Mech. B'k.
Feb. 1,1902
do
do
Aug.1, 1904
do
do
July, 1882
do
do
July. 1882
do
do
Feb., 1892
do
do
Feb., 1882-1892
do
do
1882
·1922
Harrisburg Treasury.
Providence, R. I. H. & T. Co. Sept. 1, 1882
do
do
April 1, 1883
do
do
July 1 , 1893
do
do
Aug. 1, 1894
Columbia, State Treasury.
1871 & '81
Columbia and New York. July 1, 1887 t6 '97
Columbia, Treasury.
July 1, 1875 to '79
Columbia. and New York.
July 1, 1888
do
do
July 1, 1888
do
do
July 1, 1889
do
do
July 1. 1882
State Treasury.
1888
N. Y., National Park Bank.
July 1 , 1893
Nashville, Treasurer.
July 1, 1914
do
do
1875 to 1900
Various.
do
do
New York.
July 1, 1990
State Treasury.
1 891
New York, Bank of N , Y.
1911
do
do
1 892
<io
do
March 1. 1904:
NewYork&StateTreasury.
July, 1906
do
do
1909
N. Y., Winslow, L. & Co.
1886 to'95
L6ndon, Baring B. & Co.
1886
1905
Riohmon'a Treaaury.
0
1905
do
Contiiiiient
1919
1919
New York.-The :financial condition of the State was oommented upon ing down the old debt 50 per oont. The consol were agq,:in "re-aa.1usted"
(V. 32, p. 70). Valua- in 1879. In June. 1881, the consols stood at $2,641,0U0 out of a total
autho1ized issue of $5,862,514 tor fundable bonds and interest. ValuarReal Estate.
·
Personal.
State Tax. tions and rate of tax per $1,000 have been :
1877 .................... $2,376,252,178
$379,488,140
31 6
Years.
Real Estate.
· Personalty.
Railroads. Tax Rate.
1878 . . . . . . . . . . . . . . . . . . . . 2,373,418,490
364,960,110
29!0
1878 ...... $85,633,873
$41,604,113
$ ......... _..
2!¼,
1879 .. . .. . . . . .. .. . . .. . . . 2,333,669,813
352,469,320
28 :l 1000 1879.. .. .. 76,583,866
43,967,758
. .. . . .. .. .. .
4l\l,
1880... .. . . ... .. . .. .. . . . 2,315,400,526
322,468,712
312
1880 .. . ... 77,609,666
-4,2,785,768
13,767,400
4¾
-(V. 32, p. 70.)
-(V. 28, p. 18, 378,402; V. 29, p. 358, 383; V. 30, p. 118 ; V. 33, p. 12,
North Oarolina.-Interest is paid on bonds issued to No. Oarofula RR. 589.)
($2,795,000), as the State holds $3,000,200 stock and receives dividends
thereon. The funding law of Mar. 4, 1879, provided for funding old anteTennessee.-The funding bill was i:;1,ven in V. 32, p. 387. This provides
-war bonds at 40 per cent of the tace value; ".New" railroad bonds recogc for new bonds at 3 per cent to be given for the full face of tho old and
nized as valid at 25 per cent; funding bonds of 1866 and 1868 at 15 per 12 overdue coupons, including that of July, 1881. Coupons are to be
cont. Nothing for overdue coupons. Coupons of the new bonds are re- tax-receivable, except for about $150,000 per year int6rest on the perceivable for taxes. If all were funded the new 4 per cents would be manent school fund. The question of the validity of this law w ent to tbe
$3,900,000. Speoia.t tax bonds are ignored, and also bonds to Chatham State Supreme Court on appeal, to be heard J a nuary 17, 1882. There
RR.1868, $1,030,000, a.net. to Williamston & Tarb. RR., $150,000, and for were $416,000 bonds renewed and $369,000 never registered. Assessed
Penitentiary under acts of 1868. Assessed valuation of real estate is valuations and tax rate per $1,000 ha-ve been as follows:
about 60 per cent of true value. Valuations and tax rate p er $100 have Years.
R eal E state.
Personalty.
R ailroads.
Tax Rate.
been:
1 877 .... $212, 589,045
$:14,319,803
$............
$1
Years.
R eal E state.
Personalty. TotalValuation. Tax pr. $100 1878.... 202,340,815
20,871,338
. ...........
1
1877 ....... ~92,158,245
$54,212,248
$146,370,493
38
1 879.... 196,165,644
16,952,036
............
1
1878 . . . . . . . 91,079,834
51,228,268
1 42,30 8 ,102
38 ' 1 880.. .. 195,635,100
16,133,338
16,375.894
1
1879 ....... ... . . ..... ..
..... . . .. ...
157,967,481
24
-(V. 28, p. 69, 200, 327; V. 31, p. 45, 560; V. 32, p. 115; V. 33, p. 1>28, -(V. 30, p. 467; V. 31, p. 190, 296, 330, 34 0; V. 32, p. 62, 253, 387,
579;
v.
33,
p.
66,
642.)
,
560, 6!2.)
Ohio.-Ohio has a very small State debt, but large local debts, amountPexas.-The old high-rate bonds have been redeemed and low-interest
ing in 1880 to $41,297,745, against $25,957,588 in 1875, this increase bonds isaued. Assessed valuations and rate of tax per $1,000 have been:
being mainlyinCincinnaii debt. Valuations in Ohio ha,e been as follows: Years.
Real Estate.
Personalty.
Total Val'tion. Tax Rate..
. Real estate. Personalty.
Real estate. Persoualty. .1876 .... $174,324,176
$83,307,833
$257,632,009
$5
1860 . . $639,804,314 $248,408,290 1878 .$1,091,116,952 $461,460,552 1877.. .. 212,698,432
106,237,273
318,935,705
5
1866.. 663,647,542 442.561,379 1879 . 1,093,768,904 442,979,885 1878 .... 187,722,374
115,480,050
303,202,424
5
1877 .. 1,084,455,378 490,190,387 1880. 1,102,049,931 456,166,034 1879.. .. 186,297,4.95
114,227,912
300,525,407
5
State tax rate, 2910 mills.
-(V. 30, p. 314.)
Pennsulvania.-Sinking fund, $7,255.106. Revenue is raised prin.Virginia.-The accumulated arrearages of interest on the debt proper,
cipally from corporations. Taxes are levied on personal property. The
State holds $1,754,331 in stocks and $7,900,000 of railroad bonds. Any October 1, 1881, were $3,565,331. The law of March 28. 1879, for
refunding
the debt, was irtven inCHRONICLE, Vol. 28, p, 353. The new
ooupon bonds may be (?haBged to registered. The bonds due in 1882 are
payable at any time till 1892. (V. 28, p. 43, 149, 600; V. 29, p. 192, bonds are 10-40 year bonds, and bear 3 per cent for 10 years, 4 per cent
for
20
years,
and 5 per cent for 10 years, coupons tax-receivable.
380; v. 33, p. 623.)
Assessed va.mea in 1880 were: real estate, $234,272,951 ; personal,
Rhou Island.-The d ebt was all created for war purposes. In Jan., $70,391,018. The receipts of the State Treasury in 1880-81 were
1:880, the net d ebt, less sinking- fund, was $1,828,013. The State valua- $2,632,345, and current expenses, $2,152,028, leaving $480,317 baltion of r eal property m 1816 (the latest macteJ was $243,658,190, ance. Tax rate, 5 mills. The U.S. Supreme Com"t in January, 1881,
an• personal, $84,872,369; tax rate 1879, 12 cents on $100.
held the coupons of consol. bonds not taxable by the Stme. (V. 30, p.
So1tth Oarolina.-The funding law of D ec. 23, 1873, provided for seal- 163, 223,454; v. 31, p. 88, 484, 578, 608; v. 32, p. 123; v. 33, p. 562.)
by Governor Cornell in his message, Jan., 1 981.
tions a.nd tax rat~ for State purposes ha-ve been:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I
CITY SECURITIES.
Sub8crlbers 'Will eonCer a great f"a"Yor by glTing lmm.edlate noUce
DESCRIPTION.
D ate of
bonds.
For explanations see notes on first page of tables.
of'
IN'rEREST.
Size or . Amount
par
value.
utatand1ng.
Rat
1------1
e.
..llbany, N. Y.-Purchase Congress Hall Block. .
1866
$1,000
$150,000 - - 6 City improvement. ............ .. ............... 1870·'71
1,000
4.48,000
7
Washington Park ($40,000 are 5s, due 1920) . 1870-'81
1,000
996,000 4, 5, f , 7
New Post Office site........................... .
1874
1,000
115,000
7
High School........................ . . . . . . . . . . . .
1875 .
1,000
49;000
7
Water debt ($400,000 due1900-3, are7s) ...... 1874•'77
1,000
900,000
6 &7
WesternAvenueimprovemeYt bon~s........ ~.
1877
1,000
165,000
6
Bonds loaned to Albany & Susquehanna RR ..
1865 .
1,000
· 1,000,000
6
..Atlanta, Ga.-Bondsfor streetsd&c .......... .... . '66-'67-'72 500 &c.
.(36,000
8
Bonds, A. L. Railroa.ct for an State House . .. . 1869-'70
1,000
400,000
7
Bond s for West. RR. and floating d ebt ........ 1872 & '77 500 &c.
41 8,000
8
Bonds, 1st and 2d series, waterworks.........
1874
1,000
4 :·W,000
7
Redemption bonds....... .. ... ... ..............
1 877
500 &c.
77,000
8
do
. .. . . ... . . . . .. .. . ..... ......
1875
1,000
5 2,')00
10
Amrusta, Ga.-Bondsfor various purposes..... . Various. 250 &c.
2,050,000
7
Baltimore-Consolidated loa n of 1890......... . Various. 100 &c.
7,306,546
6
Water loan, reg. stock, red. at will after 1916
1877
100 &c.
5,000 000
5
Funding loan, reg. stook, tax !Tee.. . . . . .. . . . .
18i 3
100 &c.
1,000 ,000
£>
Consolidated bounty loan.. . . ... . . . . . . .. . . .. . . .
1863
100 &c.
2 ,211,Uti8
6
Exempt bounty loan................... . ...... .
1 8 65
100 &c. 1
410,353
6
Public parks (Druid Hill).... .. ............... .
1860
100 &c.
5 55,566
6
Park improvem ent loan.... . ....... ... .........
1 863
100 &o.
1 85 ,723
6
Five million loan to Baltimore & Ohio RR .. ..
1853
100 &c. 1 5,000,000
6
One million loan toPittsb. &Connellsville RR
1853
100 &c. · 1,000,000
6
.New City Hall. ... . . . . . . . . . . . . . . . . . . . .. . . . . . . . . .
1868
100 &c.
1 ,000,000
6
i1o
do . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . .
1870
100 &c.
1 ,000,000
6
do ... . . .. .. .. . . .. . . . . . . . . . . . . . . .. .•.
1874
100 &c.
500.000
6
-do
'Consolidated loaa.... . .......... .. ............ .
1864
100 &c.
943,161
5
Conrd~ house Loan................... . ....... . .. .
. .. .,.,• .
85, 900
~
1 00 &&o
Fun 111g loa-n .. ..... ...-: .............. .. .. ... . .
1 8 10
1 00 c.
6
800,000
Weste rn Maryland Railroad .. ............. . .. .
1872
100 &c.
1,000,000
6
Jones' Falls ($739,600 are 58) . . . . . . . • • . . . .. . . .
1872
100 &c.
1, 539,600
5&6
Valley Railroad................ . .............. .
1 873
.J.,015,300
6
Water loan ($263,000 only a.re 68)....... ... . . .
1 874
100 &c.
4,000,000
5 &6
Harford Run improvement loan . . . . . . . . . . . . . .
1880
100
240,000
4
Endorsements forWefotern Maryland RR.... .
1,375,000
6
do
Ci<_lo dUuionRailroad .............
. .....,
.••&.o.
117,000
6
Bangor, Me.- ty ebt proper.... ..... . .. . ..... 1858 to 7 2 100
136,000
6
I
~~~~ir!n
~::a.s: coup: .(Act ..Feb: 22; .i875) : 1869
½i~t
European & North American Raih·oad........
1
Bangor & · Piscataquis Railroad. ...............
.Bath1Me.-Fund. debt ($24,500 are 68, '87, J.&J .
Railroad loan..................... . ... .. .. ......
And1·osooggin Railroail . .. . . ................ .. .
Knox & Lmcoln Hail.road ($23,750 each year)
do
do
(F.&A. and M.&S) . .
Bost<m-Cltypurposes. war debt. &o .. .. ..... . ...
City debt a n d R oxbury and Charleston ..... .
do
r egistered.... . . . . . . . . . . . . . . . .. . . . .. . .
do
do
. . . .. . . . . . . .. . . . . . . .. . . . . . . . .
do
do
. . . ..•••.... . ... ... ....... . . .
do
do
. . . . . . . . . . . . . . . . . . . . .. . . . . . . .
City debt and Roxbury and Charleston.......
Ro.x bury debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..
Brighton and What Roxbury ....... ... .. ..... .
l>or<1hester and Wes t Roxbury and Brighton .
Burnt district , sterling loan . ............... . ...
Consolidated street improvem't, sterlinF: loan.
Mystic wa,ter debt, assumed . ... ... ... ... . ....
Coehituate Water loan , 6 per oont . ..•. . .......
do
do
5 per eent ... .. .... .. ..
do
do
4 per cent.. ... .. ..... .
do
do
Sterling...............
do
do
5 per cent gold...... .
clo
do
41g
do
do
do
4
do
...... .
.J'r0o.t'1µ-.Brooklyn loca,l improvem<lnt loan . . .
:1o~~~;,~°i'
3l~~lq1~~~~~~~:::::::::::::::::::
Third street improve ment loan, local. .. ... ...
5&0~.
~&8:888
½:ggg
1 ,000
5r.1:888
302,000
1,000
1,000
Va rious.
Various.
1861
Various.
1 869
Various.
1871-'72 Various.
1852 to '64 1,000
1 864 to '80 1,000
1878-'81
188 0
18 79
1 877
Varion.'I.
Va.rious.
Various.
1,000,000
9i5,000
102,500
193,000
4 2 5 ,000
417,5-00
.f.'.t0,600
2,786,500
11,360,5-00
2,247,000
1,795,000
4 5U,000
51.5 ,000
328,00U
58,000
6<1,000
297,000
1873
£100&c
4 ,i:>97,604
1869
£100&c
~r 270,4.f>,!
1862 to '76 1,000
1,158,000
1866 to '76
4 ,001,000
18 75 & ' 78
13,000
1 878
....
588,000
1872
£100&c
1,947,273
l875-'7G
~,5.">2,000
1 8 79
:..t •i-8,000
1870-'80
... .
362,000
1861
1,000
~13,000
1869
½
~~i
1 867
Gowanus canal improvement loan, local . .....
1866
Bushwick avenue
do
do
do ......
1865
:8outb8eventh st.
do
do
do . ... . .
1 8 66
Union street nnprovement loan, local.... . ...
1 867
Fourth avenue
do
do
<lo
. . . . 1862 & '67
·wa11about Bay
do
do
. .. . .. . . •• .
1867
New York Bridge loan, registered and conpon
1870
Bonds fo r N. Y. & Brooklyn Bridge. op. or reg. 1876-'70
Prospec t Park loan, registered and ooupon ... 1860 to '73 ,
Prospect Park loan . ...........................• 1860 t o '7~ 1
P e rmanen t water loan ................•........ 18~7 to '72I
do
do
............ . ... ... . .. .. ,1872 to'75i
any error dlseo..-ered In thel!te Tables.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
. 1,000
1,000
1 ,000
1 ,000
1,000
I
When
Payable
I
Where payable and by
whom.
A.,·
Boston, Meroha.nts' Bank.
M. & 8.
New York,
M. & N.
do
.
1910-'21
M. & , N. Y., MerohGts' Na.t. Bk. . Ma,:;- ~ l
M. & N.
do
do
May 1, lt:1'81
F. & A.
do
do
Fc1b. 1, 1893F. & A.
do
do
Feb. 1,188g
M. & N. N. Y., Del.& Hnd. Canal Co.
1895-'9
J. & J. Atlrulta.&N.Y.,Am.Ex.N.B
1881, '86 &
J. & J.
do
do
·
J. & J., 18
J. & J.
do
do
J. & J., 1
J. & J.
do
do
Jan, 1, 1
J. & J.
do
do
Jan. 1, 18
M. & S.
do
do
Sept. 1, 18
Varion
Augusta.
1882 to 1
Q.-J. Ba lto., Farm. & Plan. Bank.
July 1, 1
M. & N . Balto., Nat. MerohaRta' Bk.
July It 19
M. & N.
do
do
. A1't6r Jruy,
M. & 8 .
do
do
Sept. 1, l
M. & 8.
do
do
Sept. 1, 1
Balto., Nat. Meohaniea' Bk. Sept. 1, 1
-J .
do
do
Jan. 1, l!
-J. Balto., Farm. & Plan. Bank. J'a.n. 1, 1
J. & J. Balto.,N. Meohanfos'Bank.
Jan. 1, 1
Q.-J: Balto., Fann. & Plan. Bank.
Julr. 1, 1
Q.-J.
do
do
April 15, 1
do
do
Maroh 7, 1
.-.J.
do
do
After 188
ddo
ddo
JulAt wm.
-...
o
o
y 1, 1
J. & J . Balto., N. Meohanics' Bank.
Jan. 1, 1
Q.-F.
do
do
April 9, 19
A. & 0 .
do
d-o
Oct. 31, 1
J. & J . Bal.to., Na.t. Merohants' Bk.
July 1, 18
. & ·J . Balto .. ,City Reg'ter's Office. After .Jan. 1,
J. & J . Balto.,N.Mechanics' Ban.Ir. an. 1 '00&
J. & J. Baltimore, Franklin Ba.nk.
Je.n. 1, 18
Vario
Bostou, Merchants' N. B 'k.
1881 to
~:
1-M.
i-J. ·
-f
g i:J. t& tJ.
6
6 & 7
5 &6
6
~~
i~i i; }
~~
do
do
Jan. 1; 1
A. & O .
do
do
April 1. l
M. & S
City Treasu,-y.
1887· & 1 8
Va.riom Boston, Sooond Nat. Bank.
'83 1 '85 &
6
A. & O. ty Treasw·ya.nd Booton. April l,.1 l
6
J. & J.
do
do
July 1, 1~82
6
Va.riour,
do
do
1801 & 1
5 g. Various .Bo8ton. Tree.surer's Offloo.
1881 to'
6
Variouf!
do
do
1 88 l to
4
Vru1cus
do
do
1887·1
4 g. A. & 0 .
do
do
Apr.,'90 &
4¼g. A.. & O.
do
do
Oct .. l
4Ig -Variou@
do
do
1887
5
Various
do
do
''lari
51.g Various
do
do
1881 to '
6111 Varioul:l
do
do
1881 to'
7
Various
do
do
1881
5 g. A. & 0 . LondOll, Baring Brotbers.
April. 18
5 g. J. & J .
do
Jnly, 18
5 & 6 Various Boston, Treasurer'a Office.
1881 to'
6
Va.ri-0w,
do
rlo
18ol to 1
6
Varioue
do
do
1907·1
4
A.. & O.
do
do
1908
5 g. A. & 0. London:1--Baring Brothers.
Oct:! 1
5 It,
. .•.
Boston, Treasur0'l"'s Office.
190::>-l
4~. A. & O.
ao
do
19 9
4 g. A. & O.
do
do
1909-19
7
!!!. & N.
Brooklyn,
181Jl·
~
6 &7
164,000
7
167,000
7
i97,000
7
2tJ0,000
7
82~,000- 6 & 7
361,000
7
3,000,000
7
6, ~62,000 5, 6 & 7
8,0HJ,000
7
l,~n 7 ,000 .
6
9,777,500
6
l,4::J0,500
7
f: t :f.'
J. & .J.
J.
J.
J.
J.
J.
J.
J".
.
J.
&
&
&
&
&
&
&
&
&
.J.
.J
J.
J.
J,
.I.
J.
J.
J.
J. & J.
J . .& J .
J. & J.
1
~~
i
i .
~£.
do
do
do
do
do
do
uo
do
do
do
do
do
do
,i,j
1e g
oe'"'
d!P➔
Po~~
~
~
~
1s8~~i~
1881
1881 to
1881 to'
1881 to'
188~ to
1881 to
1 88 1 to'
1899-1
1005 to 10
1915 to •
1915 to
1881 to 19
•
Albany.-'.L'he loan to Alb. & Susqt~ehanna is 8e'\Ured by first mort~p:c . l\'Tn uielpi,l property, tucluding water works, Q.bont $800,000. P
The valuation of Albany County m 188 0 w&<i, s~ppro.ximately: Real tion, Hi,851 In 1880; 18,829 in 1870.
estate, $49,0UO,OOO; p ersona.I, $ -1,.5001,.~0-ootimoteu to be about onelJath, Me.-The elty hold.a a first mo-rtgage on the And.roooo~gin
half of true value. City tax ra.te l i:1'19, 2 ·8 4 . Popu lation, 90,713 in for the debt, and second and third mor4(ages on the Kn.ox & Lin
1880 i 69,4.~2 iu 1870.
it~ proportion of $896,000 ont of a total of $2,395,000 bonds isau
Atlanta.-The totru bonded debt Jan. 1, 1879, was $1,i.815,:x>O: floating several cltiea in ald of the lR-ttor t'06d. Tnx valuation, 18 8 0-rea!
d ebt, $382i.415. Assessed value of r e al estate tu lt,78, $12,230.000; $ 2 ,693,750 ; personal, $3,S a l,469; total, $6,51:},219. Tiu ra~,
personal, $;'),766,530. Ti:Lx rate for all purp0808, $2 30 per $ 1 00. Popu• l >& $l t00U.
laiion, 37,825 in 1880; 21,7ts91n 1870.
Bosum.-The populfitlon of Boston in 18 o was 362,535; tn
A ugu.sla.-Of thls debt, $600,000 WM issued- for railroooa, and balan oe 2U2,497. ngainst 177 S40 lu 1800. Tne total funded debt Ap ·
1Qr cana.l enlargementt water workaf.. &o. Sinking funds, Jan. 11 1881, 18K l , WM ;¼40,949,372,and ~ debt, $'Ju,006,620. The-tax levy in
$1 51i750 . Taxable vamation in 18~0: Real estate. $U,010,96U; per· 11,1 divided~ follows: 8.¼te, $61 9,110; oounty, $260.000: oit.v. ~
s ona, $5,028,1 07; tax rate, $1 58 per $100. (V. 28, p . 17.)
182. The . rate on $1,.0 00 in 1880 wa.a a.a follows: State, 8tl
BaUlm01·e.-The fiscal year of Baltimore e nds now with I>Member 31 county, ',!/'/ C"nt,-,; city, $14 ()7; total, $15 20, against $.12 60 in
The total of all sinking funds, January, 1 88 11_} -!M $7,859 ,757. Tlle A88e88ed v aluatioR~May 1 tor
have~
·
Baltimor " & Ohio Railroad paya intereat on $5,uuu,000: Water loa n is Years.
Estate.
"'-' tate.
Rate.
paid by income of water works, and Pnb.Uo Park by City Pll&\enger Rail•
..,,.,
way, and again .s t a total debt of $36,092,298, tho city has $ .w ;661 ,9 8 6 urn •••. ••.. $ 4 81,407,200
$205,433,386
$13 10
productive assets (ino.ludiu::;_ the Rinking funds). Leaving $15, . 30,312, 1878 . .... • .. -440,.375,900
190,070,966
12 80
against whioh are held $5.030,280 of unproductive aaoots; intereAt Is 1879 • •··· •·· 428 ,786,300
184,54:'.>,700
12 50
raised by taxation on $13,16'.!,653 of debt. Population in 1870,. 267,:-J54. 18·" 0 • • .. . . .. 497,230,600
201,858,600
15 20
ag~nat 212,418 iu 1800. .A.sseaood vaJ.1uwou and tax rate have been:
1881 . . . . . . . . 455,38:l,600
210,180,300
13 90
Re.a l
Personal
Tot.al
Rate of Tll,x - (Y. 28, p. 145 ; V. 31, P. 3031 V . 3:!, P. 99; V. 33, p. 00.)
Years.
Estate.
Property.
Valuation.
per $1,000.
.Broohlttn.-The whole city debt WM a.a follows on January 1,
1876 .. .. . $162,539,1!')7
$ 70,000,000
$228 ,8 16,110
19 7212 Permanent debt. $19,960,lJOO I water loan. $11,379 500; tem
1877 .. .. . 178,57 2,032
77.,.683 ,309
256,106,3-H
10 72¼ debt, $Mt~mt,000 l tax oertiftoateB, $3,5~.0001 total, $43,H7,500
1878 .. ... l 7H,9r;8,592
70,308,003
2 4 9,266,50~
19 00
einkin~ run.a, $,~15 35,3-➔ tl J net debt. $37,60'.All 1. Tax rate 188-0,
1879 .. ... 1 83 ,5 80,023
60,46::$,l fi 8
244,043,181
1~ 00
Popula.tion Ill 870,396,200, agaln8t 554,460 ln 1880. Val
1880 . . . .. 187.387,000
6 5.613,000
2 5 2,1-lOO,OOO
13 70
property and uu rate per $1,000 for five yoore-bave been:
.AsseMe-d vah1ation is noor tbefnll cash vnloo. In 1880, after eJl abate,. Yeru-s.
Ree.I..
Personal.
ments, the real taxable ba8is waa $ 14 1,91:i0,638.
1877 .....•. •.• •...•.•.•..... $216,481,801
$13,.111,21~
Bangc,r, .Me.-The loana to Eu. & No. A.m. R.R. to Bangor & PiR. R.R. 1878 .•... .•..••...... ......• 2.1.8,378,093
14,968,91.1
are secured b y first mortg~ on thos,n·oads. and inter est IDOIJtly paid 1~70. •. • . • •. • ••••• • • . . ••. • •• 220,363,-190 .
12,562,600
from the earnings. · Valuauone (Dear full villue) o.nd tax r ate hava been: 1 1880 . .. .. .... •. . . . . . . .•..... 228.6'2-0,197
11,215,794
Years.
Reru &tate..
Peraon~lt:;.
Tax rate. 1881 .. .. . .. .. ...... .. ....... 2 40,128,905
· 15,187,040
1 878 . ........•...•.. . .•..... $6,598,927
$3. 3,584
21·83 The debt of Kings Oounty, Mepal'll,t6 from the de.bt ot Brookl
1879. . . .. ........... ...... .. 6.381.850
2,60-2.211
22-oC a.bout N,000,00;2,_ of wblch i¾.w c;tty is ~~ible 1w. ·
. 880 .••..•• . . . ~.. .. ..• • .• • •• 6,J73,0ud
2.a 1.460
•••.
iwentietbli.
p. 4:W
·
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
tt;:i~~
I
cv. ~,
CITY SECURITIES.
ix
Sub8erlbers will confer a great Ca-Yor b:, giving lnunedlate notice oC any error discovered in these Tables.
DESCRIPTION.
xplanations see notes on first page of tables
Size or
Date @f
Bonds.
----1
ir
t~
::::::::::::::::::::::::::::::::::::: : 185!~~'76 51~.
.... . ................... ............. . 1873-'74 500 &c.
............ ..........................
1874-5 · 500 &c.
8
186~ ;,~77 5~~-
loan::::::::::::::::::::::::::::::::::::::
i: .)L~j)i~:_:_:_:_:;);:;::;;;;\ 'r~7
5
bonds, ooupon ............................. 1853 to '54
loan bQnds, coupon ......0 • . • • • • • • • • • • • • • • • • •
1866
version bonds, to redeem past-dne debt .. .
do ·
coup. or reg. . . . . . . . . . .. .. .
1879
, Masa.-Funded debt, ooup .... ,. .. ... ..
tm
100 &c.
1,000
½;gg&
~debt~.~~~::::::::::::: ::::::::::::::::
te.r loan, ooup .................. . .. . .. . . . . ..
Watocloan.... .........................
loon.... ... ................ ... ............
1,000
500,&c.
1,000
wera.g30 bonds::::: ::::::::::::: :: ::::::::::::
500 &c.
1.880
ver improvement bonds.....................
1,000
unioipal bonds. ...............................
1,000
uniointi.l and School bonds.. ...... .... ..... ..
500 &c.
nding loon .. ...............................
1881
.. ..
ok County d&bt .............. . .............. . 1865 to '8 500 &c.
·nnati-- Loa,u s to Railroads.F,A, G,H,I& M 1843 to •54, 1,000
ds to O.& M. RR. !io purchase whf. prop.N
1855 . 1,000
' nds for erection of a Workhouse............
1 868
1 ,000
nds for Water Work-S ................ C2&C'3
1868
1 ,000
nds for Common School pUI-poaes .. ....... P 1860 to '61 1 ,000
ndstoO.&M.RR. to11urchasewh!. prop .. N
1855
1,000
nds for ext. amt impr. Water W .. C, D. &E 1847 to'50 500 &c.
nds for funding floating debt ............ A2 1847 to '48 500 &c .
nds for new Hospital.. ................ 8&82 1867·'68
1,000
nds for funding floating debt ... ...... ..... L
1853
1 ,000
x:te:esion and improve. Water Works .. . K &F
1858
1,000
oncls to purchase Orp'n ..µyl. grds. for park.O
185-8
1,000
onds for ~ewerage .... ... .................... R
1 869
1 ,000
QDru! for 1mprovmg Gilbert avenue ........ U
1 869 11,000
onds to build Eggleston avenuef:!ewer .... B 3
1869
1 ,000
onds for improvement ......... . ... .. ...... W
187,1
1 ,000
onda for Water Work purposes ....... C4&C5 1871- 72
1 ,000
-eneral improvement . ... . ................ . W 2
1871
1,000
inoinna.ti Southern RR.......... . ............
1872
500 &c.
do
do
1872
1 ,000
do
do
($3:200,000·
6s) ] 876 500 &c.
do
do
..... .... .... ..... ........
1879
1,000
oating debt bonds, coupon........... . ......
1 874
1,000
Mk improvement... .. ..... .. .................
1875
1,000
ater-works bonds ..... .................... Dl
1875
1,000
nd.s for McLean Ave. sewer .. .. ........ .. U2
. ..
1,000
ospital bonds...... . . . .. . . . .. . . .. .. . . . . . . . .. . .
1876
troot improvement bonds, short............... 1876-'77
n.sol. s. f. bonds, 30-50 yrs. (Act Apl. 9, '80.
1 880
1 ,000
eticlenoy loan (redeemable after 1891) . . . . .
1881
100 &c.
v~nd-Water works ($200,000 are 6 p. ct.). 1 856 to'7
unded debt ($203,000 6s, $32,000 68-) .•••.•. 1 869 to '8
ake View Park .............................. . . 1872 to '74
a.nal and canal look (~11,000 a.re 6s} .••.•...• 187 4 to '79
chool ($294,000 are 6 p. ot.) .... ...... ........ 1868 to '71
onse of Correction. . . . . . . . . . . . . . . . . . . . . . . . . . . .
1868
I
are· gold.
$232,000
1,725,000
ioo,ooo
3 ,530,000
418,000
84,2,000
3,520,000
2,099,250
1,000,000
700,000
2,729,38 2
100,000
100,000
704,632
50,000
2 7 5,00-0
150,000
99,000
100,000
150,000
l,!597,000
689,000
514,000
100,000
774,000
55,000
485,000
162,000
134,3501
51,500
a'l'l'l1>rWge, .Ha.ss.-Tbe sinking :funds amounted to $605,281, Novem , 1879. The inve.atments are nearly rul in city bonds at par and
ped "not negotiab-le. Only $52,000 debt matures before 1881.
valuation, 1875, $66,623,014; 1877 . $55,000,000; 1879, $49,238,. Total debt, November, 1879, $3,254,000. Population, 52,860 in
0; 3U,; 634 in 1870.
.
"iu:trleston, S. 0 .-The bonds of Charleston are mostly held within the
:te of South Carolina. Conversion bonds of 1879 are issued in
cllange for oit.y stock. Assessed va.luations and tax rate have been:
Real
Personal
Rate of Tax
oors.
Estate.
Property.
p er $1,000.
77 ............ ... .. ...... $18,669,623
$7,922,155
$22 50
78... .. . .. .. . . . . . . .. . . . . . 18,313,4 50
8,108,706
22 50
79. ... .. . . . . ...... .. . .... 17,137,255
6 ,272,458
20 00
80... . ........ . ..... . ... . 15,017,595
6,555,864
25 00
opula,tion, 49,027 in 1830; 48,956 in 1870.
<Jhelaea, Masa.-Bink:ing fund, January 1, 1880. $123,304, a,Il(l cross
bt. $1 ,661,800. · Tax valuation. 1879, $15,377,402; tax rate, $19 80.
pulation. 21,780 in 1880; 18,647 in 1870.
O.hieago.-Tbe net' funded debt January 1. 1881, was $12,752,000.
citY debt is limited to 5 per cent of the Illinois State valuation.
the funded debt, $4,248,000 is on· account ot the Wate.r Works, which
61d an income much above the interest <iliargc on the debt.
Rate.
Where P~h~~~ and by
P:,~1
l
Due.
7
J. & J.
Brooldyn. :g
,
4., 5, 7 J. & J.
do
~
7.
J. & J.
do . rr: ~,!:d t;..
4, 5, 6, 7 J. & J .
do
i:i §~
7
J. & J.
do
~z~ o I
7
J. & J .
do I ::s~ ~ I
6 &7
........ J 8
t
7
Varioru
Buff'a lo and New York.
7
Various
Buffalo.
7
Various
Buffalo and New York.
7
Variou8·
do
do
6
J. & J .
N. Y., Gallatin N. Bk.
6
M. & 8 .
Buffalo & New York.
5, 6 & 7 J. & J .
do
do
5
M. & S.
do
do
4 & 5 Varioui,
do
do
4
M. & S.
do
do
5
Var10ul'I Boston, Bank Redemption.
5
A.. & 0.
do
do
5 g. J . & J . Boston, Tremont Bank.
6
J. & J . Boston, Bank Redemption.
6
J. & J .
do
do
6
A.. & O.
do
do
6
J. & J.
do
do
6
J. & J
do
do
6
F. & A .
do
do
6
A. & 0 .
do
do
6
M. & N.
do
di)
6
Q.-J.
Oharlel!lton.
6
Vario
do
7
J. & J.
do
7
A.. & O.
do
4
J. & J.
do
5¼ A.. & O. Boston, N. Bk. Redemption
6
Variou.e.
do
do
7
F. & A .
do
do
6
I:<.... & A .·
do
do
6
J. & J. N. Y., Am. Ex. Nat. B a nk.
7
J. & J.
do
do
7
J. & J .
do
do
l!:182
3 years from date.
1E82
3 years from date.
1882
1 883
1881-2-3
1 8 81 to 1 895
1 893 to 1895
1881 to 1893
1 880 to 1926
July 1, 1896
Prior to 1936
July, 1 881-'83
Sept. 1, 1898
. 1899 & 1900
Sept. 1 , 1904:
1880 to 1882
April 1, 1889
· Jan. 1, 1 893
Jan. 1, 1881-to '96
J an. 1, 1903-4-6
Apr.& Oct. 1,'84.-5
July 2, 1386
July 1, 1881 to '97
Aug. 1, 1883
ApL 1, 1887-1896
May, -1889-1891
1868 to '98
1883 & '84
1890
1888 to 18!?7
Jan. 1. 1909
1879 to 1 883
1879 to 1895
Feb. 17, 1883
Aug. 1, 1887-'95
1881 to '98
July 1, '82 to '9·6
1881 to '95
1
do
do
J. & J .
do
do
do
do
M. & N . N. Y., Metropolitan Bank.
Va riou.; N. Y., Am. Exchange Bank.
M. & N.
do
do
.J. & D.
do
do
Various
do
do
J. & J.
do
do
M. & N.
do
do
A.. & O.
do
do
M. & N .
do
do
Various
do
do
J. & J .
do
do
Various
do ·
do
M. & 8.
Cincinnati.
M. & 8. N. Y., Am. Exch. Nat. Bk.
M. & S.
·do
do
A. & O.
do
do
M. & 8.
do
do
F. & A .
do
do
J. [& D .
do
do
J. & J.
do
do
J. & J.
do
do
M. & N.
New York or London.
M. & N. N. Y., Am. Exch. Nat. B'k.
bi. & N .
do
do
J. & J.
do
do
F. & A.
do
do
M. & N.
do
do
M . & N.
do
do
....
..........
M. & N. N. Y., Am. Exch. N at. Bk.
J. & D.
do
do
Various N. Y., Am. Exch. Nat. Bk.
Various
do
do
Various
do
do
Various
do
do
Various
do
do
A. & 0.
do
do
July, 1895 &·'96
1885 to '99
1901
May 1, 1885·'~
1882 & ' 84
Nov., 1885
June, 1888
1888 & 1889
Jan., 1890
Nov., 1890
April 1, 1895
March, 1897
1897
Jan., 1900
June & Oct., 1900
March, 1908
Sept., 1899
Sept., 1899
Oct., 1899
Maroh 1, 1886
. Aug., 1886-'97
D ec. 1, 1891
July 1, 1902
July 1, 1902
May 1, 1906
Nov. 1, 1908-'0f)
May 15., 1904
J an. 1, 1896
Aug .,'85, '90 & '9&
May 1889-1909
May 1, 1906
1880 to'83
A.ft.er May 1, 1910
June l, 1901
1881 t-0 '95
1883 to '94
1881 t-0 '92
1894 to '96-'98
1881 to '88
1883 & '84
f . Al
=
2:l8,200
500,000
3,482,200
149,000
1,170,000
100,000
200,000
331,500
3,625,000
2,133,000
490,000
~¼
2,608,000
6
18ti,OOO
7
2,536,500
4
843,500
4,941,500 412 to 7
750,000
6
210,000
6
7 3- 10
250,000
300,000
7 3- 10
6
99,000
6
195,000
6
397,500
6
146,500
7 3- 10
750,000
60,000
6
6
175,000
6
100,000
7 3-10
150,000
7 3-10
150,000
7 3-l.O
100,000
7 3-10
136,000
7
450,000
7
600,000
7
576,000
8,362,000
7 3-10
6g.
or
7·3
4,98l,000
6 & 7
1,844,000
7
1,000,000
7
50,000
7
300,000
5 &6
175,000
7
50,000
395,291
1,337,000
500,000
4
1 ,200,000
6&7
1,758,000 5, 6& 7
315,000
7
275 ,000
6&7
3'50,000 · 6&7
184,000
7
uffalo.-In 1875 real and personal property Wa.8 assossed at
.~St.105 ; in 1876 rule of valuation changed and assessment was
11,990,905. Since that date valuations have been:
TaxRll,te
R.ea.1 NJtate.
Personalty. pe1· $1.000.
77 .. ...................... ... $91,130,870
$8,844,705
$12 43
7iL .... . .................... 80,929,165
7,947,380
17 60
o also pays 7 -10 (being $712,390) of Erie county debt. Coupon
ds a.re exolumgeable for registered. Population, 154,766 in 1880;
7,714 in 1870.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
, _ _ _ _ _ _ _I_N_T_E_R_ES_T_._ _ _ _ _ _ 1 Principal-When
-----•------· -----------~-------
kl1fll,-( Oontintted It Avenue Basin loan ....... ............ . ...
1868
$1,000
erage fund bonds, continuous, local....... 1878-9-8 · 1,000
do
do
S'th B 'ldyn
1876
1,000
essment fund bonds, continuous, local . . . . 1877-8-9
1,000
tral and Knickerbocker av. sewer bonds..
1870
1,000
evard bonds . . . . . . . . . . . .. .. . . . . . . . .. . . . . . . .
1873
1,000
porary tax certificates.... . .............. . 1878-9-80
....
, ~. Y.-:-Funded d ebt bonds .............. 1853 to '75 1,000
ft'alo & Jamestown Railroad ............... . 1.873 to '75 1,000
a.lo New York & Philadw.phia Railroad .. . 1.871 to '73 1 ,000
-ter works bonds ............................ 1868 to/70 1,000
ter bonds, ooupon............ .............. .
187'(;
..•.
rk bonds (Act May 17, 1875). ............. ..
1 876
1,000
loan bonds .................................. 11876-77-7 8
ter bonds, reg...............................
1 878
....
nds, ooup. or reg............................. 1879-80 1000 &c
ndf:1 1 water, &o., ooup. or reg... . ............
1880
1,000
· e, Mass.-Ci.ty bonds ................. . . 1858 to '63 500 &c.
nds
do
do
Ameunt
V~~e. outstanding.
..:r
fJ. i& J.f:
~~
g~
J~ba1fu i~
I
,---Equalized Value.---.
Tax
Rate.
Years.
Real Estate.
Personal.
1876 .......................... .$131,222,460
$36,815,718
$M08
27 4-0
1877........ .. . . . .. . . .. . . . . . . . 116,082,533
32,317,615
28 66
1878 ... . ... . ........... .. ..... 104,420,053
27,561,383
28 60
1879. ..... . .. ... . ............. 91,152,229
i6,817,806
1880 . . .. . . . . . . • . . .. . . . .. . . .. . . 89,031,955
28,101,678
The assessed va,lue of real estate is about one-half of its true value,
Population in 1870 was 306,605, and in 1880, 503,298. The South Park,
West Chicago .t'ark and Linoo1n Park loans are not debts of the City,
but of aistinct corporations. (V. 28, p. 223; Y. 31, p. 652.)
Oincinnati.-In addition to the issues above named there remains
several smaller amounts, as follows: $108,000 5s, November, 188~ :
6,000 (YY2, & 0 .) 6s, 1886-88; $17,000 6s (Q.), November, 1890;
27,000 6s (A.), March, 1897; $50,000 (H2.), August, 1897. City holde
50,000 of Cincinnati Southern bonds in sinking funds. In 1 870 the
population was 216,239 , against 255,804 in 1880. ·l'he follov;,-in~ table
from the books of the Auilitor of Hamilton County, Ohio, exhibits the
assessed valuation of the city of Cincinnati in the year 1860, and from
1870 to 1879:
·
Real
Personal
Total
Tax per
Years.
Estate.
Estate.
Valuation.
$1.000.
1860 .. ... . . . .. $61,620,904
$31,411,912
$93,032,716
$17 46
1870.......... 78,736,482
57,370,754
136,107,236
31 60
1871. ...... ... 123,427,888
56,934,044
180,361,932
22 20
1872 . .. .... ... 119,621,856
55,462,410
175,084,296
20 10
1873 . .... . ... . 121,479,280
64,166,460
185,645,740
23 06
1874 .... . ..... 123,231,790
58,708,284
181,950,074
23 38
1875 . .. . .. .... 1 25,976.835
58,521,730
184,498,565
28 82
1876 ... .. ..... 127,14S;9oo
56,809,066
183,952,966
27 04
1877 .......... 1 29,043,880
43,830,188
179,430,142
29 10
1878... . . . . . . .
172.874.068
28 54
1879 .......... 131,~72,61!1
38,033,016
169,300,635
26 3-V
The city is the sole owner of the stock of the Cincinnati Southern Railroad, lea.sod as per terms, V. 33, p. 281, and with the waterworks and
oth.e r prope.rty owns real estate assets put at $35,775,000. In 1880
tax rate was $31 per $1,000, and in 1882 will be $22 50. (V. 29, p. 17 ;
v. 30, p. 465, 566; v. 32, p. 526.J
1
CITY SECURITIES.
X
(VoL
xxuµ.
Sub~rlbers will cqnCer a greac Cavor by giving Immediate notloe oC any error dlseover&d In Chese Tal>let1.
INTEREST.
Date of
Prinoipa.l-When
DESCRIPTION.
Size or .A mount
When · Where payable and by
due.
bonds.
par
outstanding. Rate.
-payable
whom.
For explanations see notes on first page of tables.
value.
Okveland-(Continued)Main sewers, special assessment.............
Street improvem'ts do
............ .
Street damages, &c., do
. . .. .. . . .. . ..
Infirmary and River dredging .... . ... . ...... .
Viaduct (mostly F. & A., A. & O. and J. & D.)
Des Moines, Iowa-Renewedjudgm't &loanf'd.
Funding bond fund............................
Det1·oit,Micli.-For Water W.Co., on city's credit
Public Building stock (City Hall) bonds ..... ..
Public sewer bonds ($40,000 are 6s) ... .......
Bonds for purchase Belle Isle . . . . . . . . . . . . . . . . .
Elizabeth, N. J.-Improvement bonds ...........
Funded debt bonds .............................
School House bonds ............................
Market House bonds .. .........................
Consolidated improvement bonds.... . . . . . . . . .
Funded assessment bonds ... .... ............ .
Tax 3:rreara~~ bonds . ....... ... .. . . .......... ..
Evansville, Inaiana.-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 ......................... .. . .
Full R iver, Mass.-City notes ........ •.... . ... ...
Various.
. .....
1876•77-78
1873 to '78
1875
1 878
1 855 to '76
1 859 to '71
1872 to '76
1879
1871 to '7 4
1870 to '75
1872 to '73
1865 to '66
1875-'76
1868
1869
1870
1870
1870
1876
1876
1 877
1878
1881
$ ....
1,000
1,000
1,000
1,000
1,000
1 ,000
1,000
1,000
1,000
1·,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Large.
lOOO&c.
1,000
1,000
1,000
1,000
1,000
Cityd~onds::: :::::::: :: :: : : :: : : : : :: : : : : : : : : :: : ::
do
..................................... .
Water loan ... .. ...•.............................
do
..................................... .
do
............... ... ...... ..... .. .. .... .
Fitchburg, Mass.-City notes . ... . . . .. . . .. • .. . • ..
1872
City bo11ds. .... .... .... .. .. . ... .. ........ •••.••.
1873
1,000
Water loan.....................................
1871
1,000
do
................................. .... .
1875
1,000
Galveston, Texas-- Bonds for various purposes ... 1.869 to '75
Limited debt bonds (sinking fund 2 per cent). 1877-8-9
Bonds to purchase blk. 321. . . . . . . . . . . . . . . . . . . .
1873
Galveston County bonds, G. C. & S. F. RR....
1876
10·0&0.
Hartford, Comi.-Waterbonds ...... .... .... . ... .
Water bonds .................. ....... .......... .
1,000
do
.... .. ....................•. . .....• .
1,000
City bonds (H.P. &F. RR.) ................... .
1,000
Park bonds (4 of these bonds are for $500each)
1,000
F'unded debt ........................... ' ....... .
1,000
1,000
~~~jr~~~~
to
1Sis:•79
do
do
war ..... . ........... ... . .
do
funded debt .................. . .
Holyoke, Mass.-City notes...................... 187·i..::•74
City bondR, sinking fund.. .. ...................
187-l
1,000
Water loan
do
................. .•••••.
1872
1,000
Railroad loan do
($60,000 are J. & J.) .
1873 . 1,000
lndianapolis-Borids to railroads ...........•... 1869 to '70
500
:Bonds to Un. RR. Tr. Stock Yard (mortgage).
1877
1,000
Loan bonds, series A...........................
1873
1,000
do
do B.......................... .
1874
1,000
do
do c ....................... _...
1874
1,000
do
do D...........................
1875
1,000
Purchase-money bonds-Southern Park.......
1874
500
.Jersey Oity-Water loan bonds, mostly coupon. 1852 to '67 1,000
Water loan bonds, mostly coupon ............. 1869 to '73 1,000
do
do
do
.. . . .. . . .. . ..
1877
1,000
Forty-year bonds............................ .. .
1873
1,000
Improveme:at bonda......... . . . . . . . . . . . . . • .. • • .
1871
500&c.
do
do
........ . ................... 1872 to '76 1,000
Morgan street dock..... . . . . . . .. . • .. .. .. . • . . • • .
1870
1,000
Funded debt bonds..... . . . . . . . . . . . . . . . . . . . • . . . .
1872
1,000
Old Jersey City bonds, coupon.... ......... ... Various.
1,000
Hudson Uity bonds............................. Various. Various
Bergen school loan bonds. . . . . . . . . . . . . . . . • • . • • .
1869
1,000&c
Bergen street improvement bonds . . . . . . . . . • • .
1869
l,OOO&c
do
bounty loan............................ Various. Various
Greenville street improvement bonds, &c..... Various. 500 &c.
.Assessment funding bonds .... . . . . . . . . . . . . . . . . 1875-'76
Revenue bonds, coupon or registered.........
1876
Tempora.ry loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1878
Bonds to fund floating de bt. &c., coup. or reg .
1879
Bonda to pay matul'ing bonds . • • . . . . . .. . • .. . . .
1830
·ciebts. raf~oacis::::::::::::::
$416,500
462,500
710,000
103,000
2,138,000
229,000
175,000
1,400,000
600,000
340,000
100,000
25'1,500
736,000
90,000
66,000
2,471,000
698,000
241,000
250,000
100,000
96,000
200,000
300,000
300,000
105,000
100,000
100,000
100,000
280,000
250,000
600,000
400,000
200,000
372,000
850,000
50,000
400,000
300,000
100,000
418,200
408,600
35,000
414.,000
475,000
202,000
200,000
500,000
130,000
300,000
1,000,000
1,250,000
130,000
130,000
205,000
271,000
250,000
226,500
155,000
500,000
300,000
300,000
300,000
200,000
109,500
1,163,000
3,109,800
416,000
622,000
1,869,000
2,161,500
125,000
500.000
844,400
162,550
150,000
400,000
73 ,000
85,000
900,000
400,000
140,000
1,353,000
450,000
Cleveland.-The sewer, street improvements and street opening bonds
are for speeial local improvements, and redeemed by assessments on the
property benefl.tt~d. Assessed valuatioR, tax rate, debt and sinking
funds have been:
Real
Tax per ---Total Bonded D ebt---Sinkin"'
Years,
Personalty. $1,000.
General.
Special.
Funrui, &c.
1877 .... $7.1,296,122
181520 $6,061,000 $2,993,164 $2,109,357
1878. .. . 70,139,639
171720
6,678,000
::?,606,100
1,816,690
1879 . . . . 70,548,J 04
15120
6,201,000
2,390,100
2,267,934
-Population, 155,946 in 1880; 92,82~ in 1870.
Des Moines, Ioioa.-Assessed value ef property, $5,104,240, which . is
about 50 per cent or true value. Tax rate, $5 per $100.
Detroit, Mich.-The population in 1870 was 79,601; in 1880, 116,027.
The,value of water works is $2,559,259, against a debt of $1,400,000.
The water works bonds are issued on a pledge of the city credit, and
$75,000"peryear collected in taxes to pay int. on them. Assessed valuation, fa 1879·80-real property. $63.981,315; personal, $19,216,725 ;
total, $83,198,040, which is made on the basis of true value. Tax rate,
$1·03 per $100.
Elizabeth, N. J.-Default was made in interest Feb. 1, 1879. Suits on
bonds are pending. Total bonded and floating debt in 1881 estimated at
$5,400,000, and accrued interest to July 1, 1 881. at $972,000. Esti•
mated trne value of real and personal property is much over the assessed
valuation or about $12,000,000 (see V. 32, p. 612). Population in 1880,
98,243; in 1870, 20,832. Assessed valuation, tax rate per $1,000 and
debt have been:
Yea.rs.
Realty & P ersonalty. Tax Rate.
Debt.
1876 ................................ $16,250,805
2·68
$4,900,000
1877................................ 15,289,888
2·50
5,130,000
1878 .. .-.. . . .. . . .. . . .. . .. . . . .. . . .. .. . 14,614,918
3·56
5,380,000
1879 .......... .. . . .. . . . .. . ... .. .. . . . 11,530,031
2 ·12
5,400,000
-v. 30, p. 589; v. 31, p. 122; v. 32, p. 231, 253, 312, 368, 420, 612.)
Evansville, Ind.-No floating debt. Assessed valuation (true value),
1)jl.x rate per $1,000 and debt have been:
Years.
Real Estate.
Personalty.
Tax.
Debt.
187~ .............. $14,566,955
$5,086,315
$11 40
$1,551,000
1879. ............. 12,381,475
4,926,350
15 00
1,55 1.,000
1880. .... .. .. . . . .. 12.919.360
5,232,646
15 00
1,651,000
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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1881 to'92
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1881 to'84
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1881 to'86
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1881-'82-'83 to '8
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July, 1885
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188 1 to '95
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1879 to'86
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Galveston.
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M. & S .
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J. & J. Phamix Bank, Hartford.
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II
May.i;°i898
May 1, 1899
Dec. 1, Ul90
Dec. 1, 1895
July 1, 1895
April lJ 1906
May l:>, 1906
June 1, 1907
April 15, 1908
Feb. 1, 1911
1881 to 1888
1881 to 1891
Aug.1, 1894
May 1, 1895
Nov. 1, 1879-1880
Nov. 1, 1892-1906
AU"'. 1, 1899-1905
lov. 20, 1882
July 1, 1$93
July l 1891
July 1, 1895-1906
18131 to '91
1907-1909
1993-1902
1906
July 1, 1890-'95
Aug. 1. 1900
June 1, 1904
June 1, 1891
Au$· 1, 1882 &' 84:
Jan. 1, ·1893
Jan. 1, 1897
. ...... .
$10,000 yearly:
....... .
1881 to 1886
Oct. 1, 1889
Jan. 1, 1900
Jan.&Apr.1, 1894
Jan.1, 1889 to '9
Ja.n. 1, 1897
July 1, 1893
July 1, 1893
July 1, 1894
July 1, 1895
Jan. 1, 1~99 ·
Jan., 1882 to'91:>
1899 to 1913
July 1, 1907
July 1, 1913
May, 1891
1892 to 1906
June 8, 1900
May 1, 1897
1881-'90
'84-'85-'89&1900
Jan., '98 to 1900
July, 1889
1884 & 1889
1881-1884>
1905-190t,
June 1, 1886
Demand,
Feb.1, 1909
1910
FallRive;r, Mass.-Tl:te sinkina"'funds amounted to $281,000, Jan.1,188_0
Total d ebt, including water ebt, $3,186,000. Population, 48,626 In
1880; 26,766 in 1870.
Fitchburg, Mass.-Sinking fund, $101,000. Total net debt, Jana.ary,
1880, $737,283. Population, 12,270 in 188 :> ; 11,260 in 1870, Valua.
tion. tax rate per $1,000, &c. :
Years.
Real Estate. P ers'l Prop'ty. Tax.
Debt. Sink'g Fd.,&o.
1877 ...... $8,03-1,325 $2,633,994
15 80 $896,395
$118,382
1878 . .. ... 7,197,125
2,373,872
16 20
900,000
138,4-U
1879 . .. . . . 6,820,575
2,:WS,818
17 80
895,803
1~8,708
-The assessed valuation of-real estate is about the cash value.
Galveston, Tcxas.-Thc total "City debt is $865,500, all of whieh ~
10 p er cent currency, except $35,000 park Sa, due 1892-1902, and
the limited debt bonds. Assessed value of real and personal property,
1878, $17,000,000. Tax: rate, $1 25 on $100. (V. 25, p. 283.)
Hartford, Oonn.-Total debt, April, 1880, $3,032,000; net, after
deducting resources, $2,l.99,768. Assessed valuation in 1878, $44,001,·
245. Population, 42,569 in 1880; 37,180 in 1870. (V. 28, p. 599.)
Holyo~. Mass.-Bonds all coupon, but oan be re-gistered. Sinking
funds, $45,500. Total net debt, January, 1880, $952,500. Tax: valuation, 1877, $9,399,820. Population, 21,961 in 1880; 10,733 in 1878,
Indianapolis.-The School Board is a distinct or$anization and lev.ie11 .
its own tax, which i.s included iu tax: rates. Tnere are a fe.w other
small is.sues about $50,000. Valuation and tax per $1,000 have been.:
Years,
Real Estak.
Personalty.
Total.
Tax.
1877 ........... $43,541,600
$11,825,645
$55,367,24,5
$11·20
1878 : ... .. . .. . . 39,156,400
10,873,575
50,029,975
10·80
1879.... .. .. .. . 38,286,235
9,813,705
48,099,940
,9 •30
1880........... 39,100,250
10,930,021
50,030,271
10·70
-Population, 75,077 iu 1880; 48,244 'in 1870.
Jersey OitV,,-One of the main causes of the temporary eml>a.rrassmen~
of Jersey City is found in the failure to collect back asae~enta a.no
in the immense value of railroad pro~e.rty ~xempt from ~ax~tlon. '.;['he
Comptroller, in Feb., 1881, made the followm_g statement m his report:
·Total taxes overdue Feb. 1, less 1881, deductions . ... ....... . $2,414,985
Total assessments due and unpaid....... .. ... .. ............... 2,996,110
Of these, $5,248,151 was estimated to be collectible.
The total debt of tho city February, 1881, waa $16,007,315; s1n.kinc
·CITY . SECURITIES.
DECBMBEB, 1881.J
xi
Subscrlber111 will eonf'er a ~reat f'a-vor 1,y gl-ving immediate notice of' any error cllaeo-verecl in the111e Tables.
INTEREST.
Date of
Size or
Amount
Principal-When
DESCRIPTION.
WheB
Bonde.
Whe-re Payable and by
Due..
ontatanding. Rate.
Pa.yable
Whom.
or explanations see notes on first page of tables
vfil'te.
1-----1----
,$385,000
7
852,000
8
10
117,782
10rence, Mass.-Funaed d ebt .................. 1859 to '64. 5000&c.
74.,000
512
133,000
Funded debt ........ ........ ............. .••... . 1862 to '75 5000&.c.
6&7
do
............ ............ ..... ••.•••.
1874
1,000
262,000
6
.
Water loan . ....... .. ..... ... ... ... .............. 1873-'75 500 &c.
1,300,000
6
6
Lewiston, Me.-City bonds ($25,000 each year).
....
• ••.
25,000
6
100,000
Citaobon,1i5g,£0J>
6
320,000
224,000
6
Lewiston & Auburn Raih'oad..................
....
• •••
500,000
5
iiii:
1sis2
1:000
6
136,000
Subscription to stook of L. & N. RR...........
1853
1,000
372,000
6
Water works .................................... 1857 to '67 1,000
1,30 2,000
6
do
. . . . . . . . . . . . . . . . . . .. . . . .. . . .. . . .. . . .
1873
1,000
56,000
7
For improvement of streets . .•.....•• •••••. • •. 1866 to '67 1,000
190,900
6
Re-constructing street.........................
1873
1 ,000
600,000
7
Public bu.ildings and institutions .••..•• •••••. 1871 to '73 1,000
650,000
7
Public school and school houses ...• ...•.. .. ... 1853 to '69 1.000
178,000
6
Sewer bonds............ . . . . . . . . . . . . . . . . . . . .. . . .
1868
1,000
8 1 ,000
6
do
. . . .. . . .. . . .. . . .. . . .. . . .. . . .. . . .. . . .
1871
1,000
4 23,000
7
Elizabeth & P. Railroad ....................... . 1868 & '73 1,000
1,981,000
7
Wbarf property ........... . ................... . '54.,'62,3, 8 1,000
267,000
6
Jail bords.. .. . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . .
1868
1,000
1 34,000
6
For old liabilities....... .......... ..............
1869
1,000
77,000
6
do
do
............................ ,. 1871 t o '74 1,000
513,000
7
Louisville, New Albany & St. L. Air Line RR.
1871
1 ,000
4 85,000
7
Road bed, Louisv., Cin. & Lex. RR. ........... 1871 to'73 1 ,000
350,000
7
t,'itybonrls oayal>le by Louisv. & Nash. RR .. . 1851 to '63 1 ,000
1,408,000
6
Old lial>ilities (balf are 10-40 and half 20-40).
1880
1,000
1 ,000,000
5
L<>welt, Mass.-City notes ........................ 1852 to'75 Large.
481,000
5 to 7
Water notes .....................•.............. 1871 to '76 Large.
500,000
6,612
Water bonds.. . ..... .. . .. .... . ........... ..... . .
1870
1 ,000
1,300,000
6
175,000
6,7
187~;3-'5
121,500
6,7
Water bonds...... ... .... ... .. .. .. .. . ... .. ...... 1871-'4-'6 1.000
450,000
6
Funde d d ebt .................................... 1862 to '76 500 &c.
387,500 5, ~12. 6
City Hall and Sc-hool House ........... . ....... . 1857 to '67 1,000
44,260
5,6
Manchester, N. H.-City bonds_..................
....
. .. .
117,5-00
6
Caty bonds ($70,000 1884, $10,000 1885). .. . .
....
. .. .
80,000
6
70,000
6
Wa~~ bonds ·c$ioo,ooo·
1·974
100 &c.
200,000
6
do
do
do
. . . .. . . .. . . .
1872
100 &c.
400,000
6
Sewer bonds ($8.000 1880, ' 81, '83, '85) . . . . . .
....
1,000
32,000
5
Srmoook Valley Railroad... ....... .............
....
100 &o.
29,500
6
Memphis, Tenn.-Bchool and paving bonds ...... 1867 to '68
6
Post bondfl ..................•................... 1867, '8, '9 50.0&c. } 1,300,000
Funding loan, gold..... ............... . .. ......
1870
1,000
341,000
6 g.
Mississippi River Railroad bonda . ............
.. . .
ti0,000
6
Endprsement Memphis & Little Rook RR . ....
1 857
1,000
300,000
7
CompromJ se bonds, coupon.... .... ............
1877
1,000
900,000
6
Mil'tDauk-ee, Wis.-Re•adjustment bonds... ......
1861
500 &c.
304,000
5
1,000
24 2,000
7
<km3~al eityd~nds ..... ::::::::::::::::::::::::
1,000
100,000
7
Water bonds, coupon........ ... ............... .
1872
1,ooe
429,000
7
do
registered. . . . . . . . . . . . . . . . . • . . . . . .
1872
10,000
1,171,000
7
Jfi1Vneapolis, M mn.-City bonds................
. .. .
1,000
250,000
8
City bonds......................................
....
1,000
70,000
8
do
......................... . . .... . ......
. .. .
500
50,000
8
Western division... ............. . . . . . . . . . . . . . . .
. .. .
500
60,000
10
do
.............................. . .
• .. .
124,500
500
8
do
... . .... ................... .. .. .
. .. .
1 ,000
110,000
7
do
... .......... .. ........ , ... . ....
. .. .
500
115,000
8
do
...... ..... ....... .. .... ........
. .. .
500
125,000
7
Mobile-Fun.ding bonds ............... :.... .... ..
1881
('I)
500
3 to 5
Naslvr;ille, Tenn.-Vai;ions city bonds ....... . . .. 1870 to'80 100 &c.
1,425,200
6
Ne19ark-Bonds, city purposes (s. fund of 1859J
_ .. .
1,000
44,000
6&7
War bonds, tloating debt, &c. (s. fund of 1864)
... .
1,000
1,840,000
6&7
Public school bonds ..... ... ........ .. . ~ ....... .
1,000
500,000
7
Clinton Hill bonds, coup. & reg. (s. fd. 3 p. c.).
is75
400,00(1
1,000
7
Oorporate bonds, coup. or reg.(act Apr. 21,'76) 1878-'80
1,000
1,200,000 5&6
Sewer and improvement-bonds {local lien&). . 1871-'7~
1,000
2,500,000
7
Aaueduot Board bonds........................ .
. ...
1,000
3,030,000
7
Tax arreara~e bonds ......... ....... . . , . ..... .. 1876-'77
1,331,000
7
New Bedford, Mass.-City bonqs.. ....... .. . . . . . 1861-'74
55,000
6
223,000
6
1,000
108,000
5
Water bond.: ........ ........ ..... .......... .....
1876
1,000
100,000
5
do
•... ........ ..... . ....... ..• ......... . 1867 to '76 1,000
400,000
6
do
........ . ............................. 1872-'74
1,000
200,000
7
eio Ha-oen, Oonn.-Sewerage.. . ... .. . . . . . . . . . . .
1871
1,000
499,000
7
City Hall.... ... .... .. .... ... . . . . . . . . . . . . . . . . . . .
1861
1,000
60,000
6
F~r Derby Railroad ($20,000 payable yearly)
1867
1,000
160,000
6
City bonds (10·20 bonds) . . . . . . . .. . . . . . . . . . . . . .
1877
1,000
150,000
5
;:i1s~.t~•-~~-~~~~.~:::::::::::::::::::::::::
Bends... ....................... ... ..... ... ......
t~tltrl2ici,ooo"iii9ij
~~t132-;.:.:.ifoi-. jeiei-soiiv1iie sto'cii:::
::::
....
$::::
····
::::
::::
t:i-f::
Lw~a:.~f;g°!_~~. ~~~~~:::::::::::::::::::::::::
each. year)::::::::::::
rn+~
i~ ~!n~~~~.~~~::::::::::::::::::::::::::::::
l.~~~
'!.o:ooo
unds, $1,164,682. Population in 1 880, 116,673, against 85,000 in
870. Taxable valuations and tax rate p er $1,000 have boon:
Years.
ReaJ Estate.
Personal Prop.
Tax Rate.
1877 ....... .. ........ ···••· $54,601,206
$5,940,296
$25 4.0
1878 . .. ..... . . . ..... ...... . 54,505,470
5,790,119
23 GO
1879 ............. .. ...... .. 54,993,918
, 5,340,860
28 00
1880. ...... ... . .. . ......... 54,122,875
5,343,815
28 00
881. .. .. . . .. . . . . . .. .. . . . . . 54,619,565
4,786,037
29 80
(V. 28, p. 173,199,352,454; V. 29, p. 120,357; V. 32, p. lo3, 566; V.
33, p. 153.)
Lawrei~e•.Mass.-Total debt, $1,790,700, ?f which . $20,000 are 7 per
nts. Sinking:__ fund, $40,000. Tax valuation, 1879, $23,688,897; tax
ate, $16 40. ropulation, 39,068 in 1880; 28,921 in 1 870.
Lewiston, Me.-Total Elebt, $1,096,100; sinldng fund, $90,410. The
ailroad bonds were issued to build the Lewiston & Auburn Railroad,
hich is owned by the cities of those namos. A11sessed valuation, 1877,
11,740,602; tax rate, 20 mills on the $1. Population, 19,076 in 1880;
3,600 in 1870.
Louis'l7ille.-The funded debt, Jan. 1, 1881, exc1nsive of loans payable
y railroads, was $8 ,812,000, against $8,072,000 Jan. 1, 1880. The sink•
g funds on J"an, 1 , 1881, amounted to $4,783,922. Population by cen us of 1870 was 100,750, against 126,556 in 1880. The following
gureEI give the assessed property valuation: 1875, $75,536,812; 1876,
1,849,772; 1877, $68,522,947; 1.878, $63,194,487; 1879, $64,018,242;
880, $66,209,440.
Lowetl, .Jfa.~.-All the notes held by saving:s ba:nks. Wate-r loan sink:ng fund, $215,000; other-sinking funds, $2:..l6,725. Population, 59,340
'.II. 1880; 40,928 in 1870. Assessed valuations (about 80 per cent of
rue valu~, tax rate per $1,000, &c., have been:
Year&
Real estate. P 'sonal Prop. T ax R 11,te.
Debt. S. tund, &c.
1877 ...... $27,072,779 ·$12,334,953 $14. 30 $2,331,000 $147,951
1878... ... 27,112,747
12,951,379
13 70
2,311,000
184,296
1879 ·..... 27,440,5'70 , 12,164,430
13 40
2.281,500
24.0,000
Lynn,,Ma.ss.-Total - debt, .January 1, 1880, $2,147,487. Assets, $455,·
633. Population, 38,376 in 1880; 28,233 in 1870.
Manchester. N. H.-Total ·debt, $929,000; assets, $83,367. Assessed
~~~: (about 70 per cent of .true value), tax rate per $1,000, &c.,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
... .
New York, Kountze Bros. 1890 & '97-1901
....
do
do
1880 to '97
. . ..
dO
do
1880-'81
VarioUB Boston, Tremont Bank.
1879-1884
Various
do
do
1880 to 1892
J. & J .
do
do
July 1, 1894
A. & O.
do
do
Oct. 1, '90, to 1906
J. & J. City Treasury and Boston.
July 1, 1882
J. & D.
do
June 1, 1 883 & '88
J. & J .
do
July 1,1885&1901
J. & J.
do
.July 1, '93-1913
A. & 0 .
do
Oct. 1,'97-1907·'17
A. & 0 . N . Y., Bank of America.
April, 1882
A. & 0 .
do
do
April, 1883
Various
do
do
1887, '89, 97
M. & S.
do
do
March 1, 188 3
Various
Louisville.
1886,' 96, '97
.J. & .J. N. Y., Bank of America.
.July 1, 1903
Various
do
do
1891, '92 & 190S
Varioufl Nevr York, U.S. Nat. Bank.
1883 to '89
.J. & .J. Louisville, City Treasurer.
.July, 1 898
J. & D. N. Y., Bank of America.
.June, 1901
Various
do
do
1888 & 1903
Various Louisville and New York.
1 883 t o 1898
A. & 0 .
do
do
Oct. 1, 1898
J. & D.
do
do
1889
Various
do
do
1894 & 1901
M. & S. N. Y., Bank of ~merica.
Sept., 1891
.J. & J .
do
do
.July, 1901 & 1903
Various New York and Louisville.
1886 to '93
M . & N. N. Y., Bank of America.
May 1, 1920
Various
City Treasury.
1879 to 1894
Various
do
1886 to 1894
M. & N. Boston, N. Bk. of Redemp.
Nov. 1, 1890
VarioUB
City Treasury.
1887 to 1890
Various
do
1885 to 1890
.J. & .J. Boston, Bank Republic. July 1 , '91- '94-'96
Various Treaa'y & Bost. Bk. Repub.
1879 to 1896
Various
do
do
1 882 to 1896
J. & J .
City Treasury.
Jan. 1, 1880-189:i
A. & 0 .
do
April 1, 1884-'85
M. & N .
Bu1folk Bank, Boston.
May 1, 1893
J. & .J.
do
do
July 1, 1890 &'95
J. & .J.
Cit y Treasury.
1887-'92-'97-1902
J. & .J.
do
.July 1, 1880 to '85
F. & A.
do
f Aufs~'l~i9tg~87
J. & J.
Memphie.
}
1873 to 1900
M. & N.
. .........
Nov., 1900
Chariestoii,"s.
J ..&.. J.
C.
Jtify...i872
J. & J.
City Treasury.
1907
.J. & D. Mil.&N.Y.,MortonB. & Co.
June 1, 1891
J. & .J.
do
do
.Ja n. 1, 1901
.J. & D.
do
do
June 1, 1896
J. & .J.
do
do
Jan. 1, 1902
J. & J .
do
do
Jan. 1, 1902
J. & D. NewYork,Nat.ParkBank.
Dec. 2, 1892
F. & .A.
do
do
Feb. 2, 1894.
M. & N .
do
do
May 1, 1905
Various
do
do
1881 to 1885
J. & J.
do
do
1886 to 1900
.J. & .J.
do
do
July,'91·'96-1902
F. & A.
do
do
Feo. 1, 1891 & '9
M. & N.
do
do
Nov. 1, 1901
J. & J. N. Y., Merchants' Nat. Bk.
Jan. 1, 1906
Various New York and Nashville.
1879 to '99
Various Newark, City Treasury.
1 883 to '93
Various
do
do
1883 to '91
A. & O.
do
do
April, 1888, to' 91
J. & J . Newark, Mooh. Nat. Bank. . .July 1, 1895
Various
1908 & 19-10
M. & S. Newark, Mech. Nat. Bank. 1886, '93 & 1909
Various
do
do
1879 & 1892
F. & A.
ilo
do
1886-'87
A. & O.
City Treasury.
1880 to 1889
A. & 0.
do
1891 to 1910
A. & O.
. . . . . . . . •.
1879 to 1884
A. & O.
..........
1900 to 1904
A. & 0.
. . • .. . . . • .
1885 to 1900
A. & O.
1883 to 1909
A.. & O.
City
Oct. 1, '91&1901
J. & ~.
do
.July 1, 1881
A.. & O.
do
Oct. 1, '79 to '86
J. & J.
do
July 2, 1 887- '97
Treasury.
Years. R eal Eatate. Personal Prop. Tax Rate. Total D ebt. Sink.Fds,&o
1878 .. $9,657,690
$6,254,544
$17 40
$984,729
$26,692
1879 .. 9,777,744.
7,705,706
15 00
973,007
37,347
-Population, 32,473 in 18~0; 23,536 in 1870. .
Memphis, Tenn. - The city has b~n in d efault for interest since Jan.
1, 1873. The Legislature passed a bill, .January, 1879, repealing the
city's charter, to enable it to avoid its d ebts. .A Receiver for the city was
appointed, but U.S. Supreme Court held such action void. The compromise bonds were issued at 50 oonts on the dollar. Assessed valuation of
reaJ estate, 1875, $19,329,600; i,ersonal, about $6,500,000. Tax rate,
$2 per $100. Population in 1870, 4.0,230. (V. 28, p. 121, 146, 224, 579,
657; v. 31, p. 306, 328; v. 32, p. 70, 183, 396; v. 33, p. 176.)
Milwaukee, Wis.-The city oonnot issue debt beyond 5 per cent of its
average assessed value for five years. In 1880 valuation was $56,857,854.
Sinking funds are provided for all the bonds. There is also about
$47,000 scrip issued to settle old railroad bonds. Population, 115,782
in 1880; 71,440 in 1870. (V. 23, p. 622.)
Minneapolis, Min.n.-Total debt, $1,101,000; tax valuation, 1879,
about $24,000,000; tax rate, 14.·85 mills; bonds all coupon. · Population,
48,323 in 1880; 13,036 in 1870.
Mobilc.-The valuation of property is about $13,000,000. - Interest was in d efault from July, 1873. A settlement with bondholders was
offered by act of March 9, 1875. In Feb., 1879, the Legislature repealed
the charter of the city. In Oct., 1880, bondholders offered to take new
25-year bonds, bearing 3 per cent for 5 years, 4.·per cent for 15 yearl'f,
and 5percentfor 5 years. Population, 29,166 in 1880; 32,034 in 1870.
(V. 29, p. 278, 374.; V. 31, p. 328.)
Nash'l7ille, Tenn.-At the close of the fiscal y ear, September 30, 188-0,
there w ere $184,800 of past-due coupons, judgme nts, overdrafts, &c.
.Assessed valuation of all property in 1880 was $10,187,000 r eal property
and $2,491,55C p ersonal; tax rate, $20 per $1,000. Population, 43,337
in 1880 ; 25,865 in 1870.
Newark.-The bonds in the first line in the table are payable out of the
sinking fund of 1859, which amounts to $106,407; those in second line
out of sinking fund of 1864, $1,366,089; public school bonds out of
public school fund,- $290,463 ; Clinton Hill bonds by sinkin"' fund
xii
CITY SECURITIES~
. . . It
• )
S~b8erlben -w.111 conCer a great Ca-Yor by glvlag Immediate notice oc any error di&covered In t h ~ TablM.
INTEREST.
",:
Amount
Size or
Date of
DESCRIPTION.
· Where payable and by
Wben
par outstanding. Rate.
Bonds.
'
whom.
payable
Va lue.
For explanations see notes on first page of tables.
.
.
,- -----,---- ---
Neto Orleans-Consolidated debt.... . .. . . ... .. ..
Railroad debt. ... ........... .... ............. . ..
Waterworks loan of 1869 . ...... . .. . ... . .. . . .. .
Seven per cent f unding loan of 18 6 9. ... . .. .. .
Seven p er cent funding loan of 1870..........
J effer Ron City (debt assumed) . . ... . .. ... ..... .
Wharf impr. bonds (assn.lied by lessee s) . . .. .
Street improvem ent bonds. ... . ........ . ... .. ..
Consol. gold b011ds (o-en'l and drain age se ries)
Ten per cent bonds , d eficit a nd old cfaim.. .. .
New premium bonds (in exchange). . ... .. ... .
N. 0. W aterw'ks Co. n ew bds.(for $ 2,000,000)
Newton, Mass.- City bonds and note R. ........ . .
Water loan 1$600,000 6s, balance 5s). ... . . . . .
New York-Wa ter s tock.... .. . ... . .... . . .... ... .
Croton water stock . ........ . ..................
New Croton ·Aqueduct stock . .......... . .... . .
AdditionaJ new Croton Aqueduct . .. . .... ... ...
Croton water m a in stock . ......... . ........... .
Croton Reservoir bonds . .... .. ......... . ...... .
Croton Aqueduct bonds ...... . .... .. .. .. ... . ...
Cent. Park fund s tock ($275,000 only due '98)
Improvement bonds . .. .. .............. . .... . . . .
Central Park fund stock . . .. . ......... . ........
Central Park illlprovement fund stock ........
Dock bonds .......... .. ...... .. .................
Market stock .......... .. .......... . .. .. . .......
City Cemetery stock... ......... . .. .............
<Jity improvem't st'k (part red'mable after '96)
. . . . . . . . . . . . . •. . . . . . . . .
do
do
Lunatic .Asylum stock.. .. ... . . . .......... . . . ...
Fire Department stock. ........... ........... . .
Fire telegraph bonds.......... . . . . . . . . . . . . . . . . .
'l:ax rehef bonds,1. couvon . . . . . • . . . . . . . . . . . . . . . .
N.Y.Bridge ude (~2,421,900 red.after .July,'96)
Acoumnlated debt bonds.... ....................
Street improvement bonds . ....................
Street o:pe~g and improvement bonds . ......
Ninth D1str1ct Court-l1ouse bonds... . . ... . . . . .
Department of Parks improvement bonds....
Assessm ent bonds..............................
City parks improvement fund stock...........
Normal school fund stock......................
Public school building fund stock..............
Addi1fenal Croton water stock................
Sewer repair stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Consolidated stock.... .. . .. ................. . ..
20-50 (redeemable July '96J
do
Museum of Art and Natural History stock....
Third District Court-house bonds . ........ .... .
Central Park oommlssion improvement bonds
County Court-house stock ... .... ............. .
No. 3 . ....... .. .. . ...
do
do
No. 4 & 5 . .. . . . ... .. .
do
do
Soldiers' bounty fund bonds..... ... .. .. . .......
Soldiers' bounty fund bonds, No. 3..... ...... .
Soldiers' bountv fund red. bonds, No. 2 .. ... ..
Riot damages indemnity bonds ................
Ai!sessment fund stock . ............ . .......... .
.. ..... .... .... ....... ...
do
do
. . . . . . . . . . . . . . . . . . . . . . ••.
do
do
Repairs to buildings stock. ............. . .. . ...
Consolidated stock, geld, coupon . ......... .. ..
Acoumulated.debt·bo-nds .-............. . .... . . ..
N. Y. and Westchester Co.impro,ementbonds
Consolidated stock... . ... . . ............ ..... ...
For State sinking fund dQfl.ciency.... . ... .. ... .
Debt of W &\Stchester towns annexed . .. ..... . .
Consolidated stock, gold ... . . .....•••...... .. •.
Consolidated stock ... . . ................. . ..... .
Bonds for bridge over Harlem River . ....... . .
Nm-folk, Va.-Registered stock ... ... . . . .. ..... .
Coupon bonds <~20,000 6s are J. & J.) ....... .
Coupon bonds of 1881 (exem_ptJ ............. .
Trust& p aving, ooup. (pav'g, $189,300, J.&J.)
Coupon bds, water (a mort. on water works.) .
Norwich, Conn.-City bonds . ................... .
City bonds ...... . . ..... ... .. . .... .. ... . . .. . . . •.
Wat.er loan ($50,000 1890, $250,000, 1898) .. .
Court House .. . ... . .... ..... .. .. . ... .... . ...... .
SinKing fund bonds ........ ... ......... . ...... .
$1,304 ,25 0
68.000
82,700
5 8 9,350
3 5 ,650
8 5,500
61,0 00
1 ,000
20,55 0
1 ,000
165,00 0
Va rious.
29 8 ,8 50
. .. .
8,533,560
....
3 57.000
1,000&c
1,000
83 5,000
100 &c.
500,000
100 &o.
2,900,0 00
100 &o.
250,000
3,618,600
500 &-o.
500 &c.
5 ,196,000
100 &c.
970,637
100 &c.
490,000
100 &c .
3,341,071
500
500,000
100 &c .
399,300
100 &c.
3,8J.9,800
500 &c.
8, 375 ,000
100 &c.
206,000
100 &c.
7 5 ,000
500 &c.
2,229,500
7,20 9 ,400
500 &c.
100 &c.
700,000
100 &o.
5 21,953
100 &c.
597,586
500 &c.
3,000,000
500 &c.
4,537,900
100 &c.
6,500,000
100 &c.
727,900
100 &e.
2 50,000
500 &c.
300,000
500 &c.
1,241,000
fiOO &c.
7,321.100
500 &o.
5,744,000
500 &c
200,000
500 &c.
636,000
500 &c.
1,985,000
500 &c.
265,000
500 &c.
8,779.700
500 &o.
2,lOi,260
9 58,000
500 &c.
500
500 &c.
100 &c.
1 ,100,000
100 &c.
600,000
651,100
500 &c.
100 &c.
4,000,000
100 &c.
745,800
100 &c.
376,600
100 &c.
855,204
100 &c.
1,719,400
493,200
100 &c.
900,450
100 &c.
100 &o.
100,000
500 &c. 14,702,000
100 &c.
6,000,000
100 &c.
30,000
100 &c.
1,680,2-00
100 &c.
1,949,747
915, !')00
500&0. 6,900,000
1878
2,800,000
500
85,000
500
537,562
100
417,000
1870-:'74
100
325,000
188 1
"ioo
415,800
1872-'73
500,000
1871
100
125,000
1 ,000
1868
160,000
1,000
1877
300,000
'68,'78,'80 1,000
164,000
1,000
1875
50,000
1,000
1878
1852
1854-55
18 69
1 869
18 70
'57, '67 ,'70
1 870
1 871
1 872
1871
....
....
1864 t o '75
1875
1 872 ·
1846 to '69
186 5-6
1870 to '79
1871 to '79
1865 t o '74
1 66 to '70
1857 to '59
1879
1 56
1858 to '71
1 870-'7::,
1865 & '68
1 869
1 876
1870-'73
1869-'70
181:J!f-'70
1870-'73
1 870
1869-'79
1869-'70
1874-'77
1871
11!!71
1874-'79
1874-'78
1871-'78
1871
1871
1871-''/9
.J.872
1874
1876
1873-'79
1874
1878 & '79
1862 to '68
1871
1872 9
1864
1865
1865
1864 to '72
1868 to '72
1873
1875
1870
1871 to '72
1869 to '70
1870
1874
1874
$1,000
1,000
$98,810; tax acrearage, $ 509,530; corporate b<'nds, $10 6,617. Real and
~sonaJ property have been assessed a.t near the true value aa follows:
Iil78, $86.257, 175; trur, $19 80; 1879, $78,658,918; tax, $20 60; 1880,
~2,140,700; tax rate, $20 90. Population in 1870, 105,059, aga.mst
1g6,983 in 1880.
New Bedford, Jfass.-Population, 27,268 in 18 80; 21,320 i n 1870.
Assessed valuations (true value), rate of tax, &c. , h ave been:
Trust
Personal Rate of Tax Total D ebt,
·
Funds.
Bonds.
Property. per $1.000.
Yea.re. Real Estate.
$1,178,000 $102,600
$18 60
1877 .. .. $12,609,200 $13,524,097
103,100
1,148 ,000
16 00
13,137,011
1878. . . . 12,808,700
104,100
1,123,000
16 40
12,874,418
1879.... 12,898,300
New Ha'Den, Oonn.- Sinking fund on City Hall loan, $57,740; munici·
pal bond fund, $18,277. The city made a. special loan of $75,000 to the
New Haven & Derby Railroad, and ~aranteed $225,000 of its seoond
mortgage bonds. Population, 1870, o0,840; in 1880, 62,861. Assessed
valuations (about 80 per cent of true valu_e ), uu: rate, &c., have been:
Sinking
Total
Rate of Tax
Personal
Funds, &c.
Debt.
per $1,000.
Property.
Years. Real Estate.
$ 57,904
$965,513
10 mills.
1876 .. $35,178,404 $13,041,104
14 7,4 18
950 ,137
9~ "
12,678,617
1877. . 35,509,639
142,196
894,000
"
9
11,606,420
1878 . . 33,426,943
156,450
874,000
9
... . .. ......
1879.. . . . .. .. . . ...
New Orleans.-A decision of Louisiana Supreme Courtt D ec., 187 8, h eld
iRva11d the special tax provisions for consolidated bonos. The asaessi'd
yaluation of property for 1878 was $111,123,695, real and personal , and
• 1881 about $103,177.249. A scheme for settling the d ebt by a bond
premium drawing- plan is in practice, and drawings take place .January
31, .April 15, JuJy 31, and October 15. On J une 3 0, 1881, the total
lwnded debt wru, $14 1_579,329 ; and total floating debt, $2,331,331.
'l'1le uncollected taxes ror 1878 and prior years, payable in scrip, were
$3,46Fi,844, and for 1879-80 , payable in cash, $1,000,000. Population
in 1870, 191,418; in 1880, 216,359. (Y. 30. p. 466,494, 651; V. 31,
.
p. 60 6.)
Newton, Mass.- Total debt, January 1, 1880 , $1,282 778 ; sinking fund,
sY0,408. Tax valuation, 18'7'9,~$23;787 ,352 ; rate, $13 40 per $1,000.
Population, -16,994 in 1880; 12,825 in 1870.
Neto Yorl, City.-The t otal debt of New York, January 1 , Hs8l. was
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
i~~:888
6
6
5
7
7
8
J. & J .
Various
J. & J .
M . & 8.
J. & D .
Various
7·3 J . & D .
7· 3 I•'. & A .
Q.-J.
7 g.
A . & 0.
10
5
do
do
do
do
do
do
€lo
New York or London .
New Orleans.
e:~·G¼
=
_:;a
N.,
="'"'
8:
t~
z
f
~
8~
4
4 &5
6
6 &8
5
8
8
7
5
5, 6 & 7
7
5
M . & N.
lI. & N .
: =
•
City Treasury.
Va°lio.ns
5,
5 & 6 J . & J. Bostcm, Comm'nwealth Bk.
6 & 7 M . & N.
'd
5 & G I Q.-F.
Q.-F.
6
0bl>
4,5, 6 & 7 Q.-F.
4)
4,5, 6 & 7 M. & N .
~
Q.-F.
6
s:::i
Q.-F.
6
o s::i
Q.-F.
6
~_g
;\{. & N.
5
~ §
Q.-F.
5
..., H
Q.-F.
6
_s A
4, 5,6 &7 M. & N.
,:::1 ~;;_;
G & 7 l\L & N.
-M. & N.
7
'd
5 & 6 g. M. & N .
M. & N.
7
~~
6 & 7 M. & N.
~M. & N.
6
~~
M. &
6
~~
M. & N.
7
£ a3
4, 5 & 6 M. & N. I
5~
M. & N.
7
1J:1 ~
M. & N.
5 &6
t:~
M. & N.
7
M. & N .
7
\iI. & N .
5
4&5 M .& N .
5,6,7&6g M . & N .
~
M. & N .
6
.-..
M. & N.
6
~
4, 5,6 & 7 M. & N.
rs ·,..
M. & N.
6
6 & 7 Various
O~
.10 .S
5 & 6 M. & N
- ~
4, 5 & 6 M. & N
6
5
~)
: : : :·
;al..,:f
M. & N.
6
§4 ~
M. & N.
7
,. 0
5 & 6 M. & N .
M. & N.
6
1\£. & N.
7
~
M. & N .
7
,..; i::i.
M. & N
6
.., <r>
M. & N .
6
!IS •.-c
6 & 7 M. & N.
$l :g
M. & N .
6
i~
M. & N .
6
. _-~oA
6 g. VariOUH
S::.,c
M. & N .
7
M. & N.
6
~
J . & D.
7
+'>
M. & N.
7
··5·g. M."&N.
..
..
..
.:.
New Orleans.
s.!3I
1 87 f>to.i89
July 1, 1905Nov. 1, 190
1883 & l t:'9
Aug. 1, 188
Aug. 1, 1 fl'
Nov .1,1900-19
1907 to 191
1907 to 191 A
1887 & 1898
1884
J.(H y 1&, 1 8 9 8
1 88 7 1 8 9 5
Nov.1,1901 to'
1894 & 1 8
1 88 8
'89,'92,'96& 19
1889 & 189
1 88 9
1 889 9
1884
1890
1905 ,1926&19
1884 t-0 '88
1 884, & 1888
1882
189 0
Nov.1,1882to 1 ;
Nov.1,1882to'
1901-1904
Nov. 1, 1891
Nov. 1, 1891
Nov. 1, 1891
Nov.1, 1882 &
1894 to '96
Ma.y,'97 , 19161 903
~
II
i
I
:~;:l.'11i1°
1882 to '92
1884 to '88
1894 to '98
1883 to'90
1895 to'97
1891
1882
1887
1903
1910
1884 to~ss
1896 W 1901
1884 to '88
1 89 1
1896
1882 to '86
1oos::-i92s
1910
Nov., 1891.
1881 to'85
'90-'94-'99, 190
do
do
1911
do
do
Apl.,'92: July,
do
do
May, 1901
New York, Park N. Bank.
Oct. 1, 1893
l'hameaN.Bk; Bost.,Bk.Rep
April 1, 1907
Norwioh.
1898,1908 &191
do
Jan. 1, 190
do
April l. 190
d.o
.
J. & J. Norfolk, Treasu-rer•s Offloe.
M. & 8.
J. & J .
A.. & o.
M. & N.
A. & 0.
A. & O.
Vru.ious
J. & ,J.
A . & O.
I
i
$1 23,176,919; the amount of sinking funds, $32,99?1 024. The folle
ing statement shows the details of funded debt and we am.oun; in
city sinking fund a t the dates named :
Jan. 1, 188
J'an. 1, 1880.
Jan. 1, 1879.
D escription.
$123,176,91
$123,145,333
Funded d ebt .... . .. . ... $126,128,815
32,993,
33,021,985
32,143,787
Sinking fund.... ... ....
N et debt . . . . . . . . . . . $93,985,028
13,481,500
Assessment bond8.. . ..
l'>,952,075
Revenue bonds . . . . . . . .
$90,123,348
13,262,100
6,039,966
-I
.:• · : ~.·
t
;
I
$106,066~2,4;
$109,425,414
Total ............... $113,418,603
T11e population 9f New York, bv ~ United States censt1S, in 18'i'O
922,531 1 and 1,209,561 in 1880. ·Since Jan. 1, 1861, tlle valUMio~ ra.
of taxation, and net funded debt at end of year, have been a.a follows:
,--RateTaxp.
Ne; Del)t.1t
$1,008--.
Personal
Re-al
Deo. 31.
State. •City.
F.state.
Estate.
Yea.rs.
$20,087,30
1861. . . ... $406,955,665 $174,624,306 $3 62 $16 36
35,978.59 I
4 96 24 94
181,423,471
1865 ...... 427,360,884
73,373.60 I
2 70 l.D 80
305,285,374
1870 . . . ... 742,103,075
88,369,38
4 43 t'7 27
306,947,233
1 871. . .... 769,302,250
95,4.67,1 5 20 23 81
306,949,422
1872 ... .. . 797,148,665
107,02.3,47
5 41 19 59
292,597,643
1873 . . . .. . 836,693,380
114,979J}7
6 95 21 0 5
272,481,181
1874t . . . . . 881,547,995
116,778,72
.__29 40---217,300,154
1875 . ..... 883,643,545
119,811,81
28 00
218,626,178
1876 .. . ... 892,428,165
117,700,74
26 50
206,028,160
1877 ...... 895,963,933
113.418,40
25 50
197,532,075
1878 .. . ... 900,855,700
109,425,41
25 80
175,934,955
1879 .. . ... 918,134,.380
106,066,24
25 30
201,19i,037
1880...... 942,571,690
26 ~o
209,212,899
1881.. .. .. 976,735.19!J
t Anne1~ed towns included .
* Leas sinking funda.
The amount of all real estate taxes remaining overdue and unpaid o
.A ugm1t I , 1881, was $8,253,945. The personal t axea overdue and unpa.i
we,i·e. 3,790,197, of which $10,000,000 was estimated_to be wortbl~
-The reduction between the amount of taxation in the years 1~4 an
1880 is about $3,400,000. There was, however, no substantial
tion in the expense of adminiatering the City Government, a.a the redn
CITY SECURITIES.
1881.]
xiii
Snbscrlben -will comer a great Cavor by giving l1DD1edlate notice oC any error dlseoYered In these TablM.:
Date of
Bonds.
DESCRIPTION.
or explanations see notes on first page of tables.
Size or
A.mount
par
outstanding.
Value.
~~:ii~r:i~.·:,t;:.-.·.·.·.·.·.·.·.·:::::::::::::::::::
·f~iii;oo·o
1858-'73
1862-'71
1869-'79
1869-'79
1863-'65
1877
1 877-'7e
e.~ch
f~ir
.-:.Boiids.to si:jo~
~1:,~~; t:Ii~~:::::::::::::::::::::::::::::::
U.on in State t axes is about equal to reduc tion in tax levy. (V. 31, p . 45,
281,445; v. 33, p. 40, 244.)
Norfolk, Va.-Th.e assessed valuations and tax rate p er $1,000 have b een:
Years.
Real Estate.
Personalty. Tax Rate.
1877 . ... ... . ........ .. . .. . ..... $8,576,130
$1,639,866
$19
18'78 ... . . . .. .. . . .. .. . .. .... .. .. 8,703,895
1,480,763
19
1879 .... ..... .. - .......... : . . . . 8,775,416
1,497,130
:I-9
Norwich, Oonn.-The asseased·valuations, tax rate, &c., have been :
Personal R ate of Tax Totn.1
Sinking
R eal
Y eaTa.
Estate.
Property. per $1,000. D ebt. Furtda, &c.
1876 ... . .... . $7,735,158
$3,725,846
$ 11
$765,664
$ ..... .
1877 ... ... ... 8,184,815
3,273,074
8
763,277
187a.. ..... .. 1,794,678
3,039,564
1
771,863
3,535
1879.. ....... 7,435,418
3,057,099
9
777,312
9,191
-Population, 21,145 in 1880; 16,653 in 1870.
Paterson, N. J.-Finances are apparently in a sound condition. Baek
ta.x:es due (including 1878) were $667,786 January 1, 1879. The assessed
valuations, tax rate p er $1,000, &c., have been:
Years.
Real Estate.
P ersonalty . T ax Rate.
Deht.
1878 ............. $15,850,857
$3,255,659
214
$1,286,500
1879 ... . . . . . .. . .. 1 5 ,923,108
3,246,501
214
1,275,000
1880 ... .......... 16,398,608
3,544,517
214
1,259,500
- Popula,t ion, 50,950 in 1880; 33,579 in 1870.
Philadelpkia.- The total funded debt, January 1 , 1881, was $69,431,064; floating d ebt, $601,365 ; on January 1, 1880, the d ebt was $70,970,·
004; float ing debt, $1,294,554. Tota l assets J a n. 1, 1881. includin,e:
sinking fund, railroad stocks h eld, and $2 942,263 of tax es "due and
ooll-ect,i ble," and $ 2,805,754 cash, were $26,819,446. In the followtag table the assessed value of real estate is near its cash value :
Years.
Real Estate.
Personalty. Tax Rate.
1876 ..... .... ................ $ 585,408,705
$10,004,673
$21 50
1877... .. . . . ... .. . . . .. . . .. . . . 593,313,532
9,755,000
22 50
1878 .............. . .......... 577,548,328
9,439,769
2 1 50
1879 ... - . . . . . . . . . . . . . . . . . . . . . 526,539,972
8 ,069,892
20 50
1880. ........... . . . . . . . . . . . . . 529,169,382
7,498,452
20 00
1 881. . .. . . .. .. .. . . .. . . .. .. . . . 543,669,579
7,863;385
19 50
1882.. .. . ... . ... . . . . . . . . . . . . . 545,608 ,57!l
8,166,650
.Assessed , ·a luatioru of vroperty for 1882 are: Full city property,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
When
Pay'ble
----- ---- ---
500
118,000
500
135,000
500
28,000
500
369,000
500
399,500
lOO&c
100,000
500
110,000
50&c.
hiladelphia-Bonds prior to consolidation ....
5 ,284,989
Bonds for railroad stock subsidy 11nb11cript'ns
1855
50&c.
1,725,000
do for water works .... ... ............ ... . . 1855 to'71 50&c.
6,500,000
do for bridges . ....... . . .. . .. . .... ......... . 1859 to'70 50&c.
4,853,500
do for park and Centennial . .. . ..... ...... . l 868 to '70 50&c.
8,701,600
Bonds for war and bounty p urposes . ... .. .. .. 1862 to 65 50&c. 1 1 ,650,000
do municipal, school, sewer, &c ........... 1860 to'70 50 &c. 15,909,750
50&c.
Guaranteed d ebt, gas loans .. . . . ...............
5,999,400
Fom· per cent loan ("A" t o "Y") . . . .. . .......
25 &c.
1879
8,806,810
ecwia, J/ls.-School loan . ... .. ... . .... ... . . . .. . .
74,500
Water loan ($50,000 ea.ch year) ................
50,000
Water loan ..... ....... . ...... ... .... ... .. ... . . . .
195,000
do
~05,000
Bo~ty loan
'iiaiabie'
·yeai:)·::::
42,000
Peoria & Rock Island Rall.road ................
100,000
'ttsburg-Water ex.ten. loan <coup. or reg .) .. .. 1868. io.'74
.(,279,000
Water loan, reg .. .................. . ...... .. ...
1878
3 00,000
Funded debt and other municipal bonds ...... 1845 to '72
1,226,000
Oom~omise r ailroad bonds (coup. and r eg.) ..
1863
2,179,469
Bone impr. Penn. av., &c. (local assessment). 1871 to'73
5,127,700
Bonds for overdue mtereat (temporary loan)_
1879
1,405,000
orttana, Me.-Loan to Atl. & St. Lawr e nce RR. '68,'69,'70 1:000
787,000
Loan to Portland & Rochester Railroad ...... 1867 to'69 500 &c.
627,500
do
do
1872
416,000
do
do Portland & Ofdensburg ........ ::::::
1872
1,200,000
Municipal-prope1·, ($ 3,000 are 5a clue '83) .. 1859-79 500&c.
1,332,600
Building loan bonds . .. . _. . ..... . : . .. .. ...... . ..
1867
1,000
325,00 0
rovidence, R.I.-Bonds f or public illlprovem'ts
1855
lOOO&c.
600,000
Recruiting and bount fc bonds .... .... .... . . . ...
1863
lOOO&c.
300,000
Water loan bonds, god, coupon ...............
1872
lOOO&c.
2,347,000
do
do
registered ..... ...... .
lOOO&c.
1,653,000
1 874
do
do
do
. ... .. ......
1876
lOOO&c.
1 ,500,000
City Hall & sewer loan b'da, sterling, cp. or reg
1 875
£100
1,397.250
ilo
loa n of 1 879 _........... .. _.
1879
lOOO&c .
6 00,000
Public improvement loan, re-aiatered ..........
1879
Large.
596,000
1 872
1,000
500,000
ti~tn~ttf!e~c!ie~~~~~~~~: ::
1877
1 ,000
4 20,000
do
do
coupon .•••..
do
1879
1,000
280,000
New HiJ.h School Building certificates .. ..... . 1877 & '79
112,938
ichmon , 'Vtt.-Bonds, reg.,($118,000 are coup.)
3,'l63,545
Bonds, reg. and coup. ($216,000 are coup.) .. _
1,214,700
. (1)
New :lives . . .......... _..........................
ster, N. Y.-To Genesee Valley Railroad . .
160,000
1:000
To Roch. & State L. and R. N. & P. Railroads .
lOOO&c.
750,000
For various city improvements ................
Various
938,68#3
Water works loan, coupon and registered .....
3,182,000
lOOO&c.
Flnldin ~ loan ...... ...................... . .. . ...
410,000
it:i75
kland, .Me.-City bonds ................... . ..
lOO&c.
192,650
Railroac'~ loan ($20,000 payable y early) . . ....
100 &c.
400,000
1869
1871
100 &c.
150,000
d'>
······-··························-·
do
1872
100 &c.
205,000
i. Joseph, Mo .
·,i°Deu·city.R'i~~ 1860 to'69
500
462,500
Bonds t, Misaouri Valley Railroad ...... •.. ...
1869
500
114/00
Bonds f< r varioua purposes .................... 1858 to'69 100 &c.
196,300
Bridge bonds ............ .... .... . ......... : ...
1871
500
4 50,000
New co:q promise bonds (60 per cent ) ....... ..
1881
50&c.
300,300
t. Louis-Renewal and floating debt bonds . ... 1846 to'71 Various
1,688,000
Real estate, huildin~ and general purposes .. 1840to'68 Various
1,104,000
Street improveme nt onds .............. _..... 1855 to '57 Various
70,000
Water work bonds (old) ...... ......... . .. ..... 1856 to'58 Various
127,000
Tower Grove P ark bonds (gold) . _.. ......... . ..
1,000
1868
346,000
Sewer bonda ................................... . 1855 to'69 1,000
772,000
Harbor and wharf bonds ............. . _.... ... 1852 to'68 Various
578,000
Bonds to Pacific Railroad .. ... _...... .. .. .. .. .
1865
700,000
New water work bonds (gold) . ............. . . .. 1867 to'70 1:000
3,950,000
do
do
do ... ...............
1872
1,000
1,250,000
Renewal and sewer bonds (gold) . ........ . . . .. 1871 to'73 1,000
681,000
Renewal purposes, gold or sterling .... . . . .... .
1,000
1873
1,074,000
Renewal, &o., bonds, gold,$ and£ . ... .. .. .. . .
1875
1,000
707,000
Renewal, &c., bonds,gold,$ and£, CQupon . . . 1874-'79
1,000
2,747,000
Renewa l bds.,gold,$ and £(part red'mable '90)
1880
1,000
l,OU,000
Bridgeap~oach bonds (gold) ... . .. ...... . .•...
1872
461,000
500
St. Louis
unty bonds assumed-'1867
1,000
100,000
1,000
1 868
500,000
General purposes, gold ................ .. .....
1872
1.000
600,000
aterson, N. J.-School oonds. . • • . . . . . . . . . ...
Funded de~t bonds ........ .. .............. .. .. .
Improvement bonds ..... ... .. .. ... ..... . ... . .. .
Sewer b'ds ($125,000 are M.& S. & $16,000 5s)
War bounty bonds .. . ... ..... . ....... .... . . .....
INTEREST.
Rate.
Where Payable and by
Whom.
J. &D.
J. &D.
J. &n.
J. & D.
J. &D.
.J. & D.
Various
.r. & J.
J. & J.
J. & J .
J. & J.
J. & J.
J. & J.
J. & J.
J. & J .
Prineipal-Whf>ll
Due.
City Hall, by Treasurer.
Dee., 1879-19CM.
Dee., 1871)-1900
do
do
do
de
Dec., 1879-188~
do
do
1882- 1902
d~
do
Dee., 1879-1900
do
do
Junc,1887
1 901-1904
do
do
PbUa. , by Treawrer.
1879 to'85
do
do
do
do
1879 to 1903
do
do
6
do
do
do
6
do
1879 to 1901>
6
do
ao
6
do
do
1 883 to 190i
4
do
do
1880 to 190-t
VarlOUti N. Y ., Amer. Ex:oh. Nat. Bk.
1879 to 1890
7
10
M.&N.
do
May 15,1881
do
J. & D .
do
do
June 1, 1 888
7
7,6~.&7g Various
do
do
1889-1891
M. & S. N. Y., Mercantile Nat. Bk. Mch.1,1882 & '83
10
New Y ork.
July 1, 1 88&
7
J. & J.
A. &O.
Pittsburg, Treasurer.
1 893 to '98
7
J. & J.
6
do
do
1908
6 &7 Various Pittabnrf Phila. & N. Y.
1881 t<> 1912
4 &5 J. & J. New Yor , B'k of America.
1913
Philadelphia.
Various
1883 to'S-5
7
..6. M.:&·N. Boston, Bl.acks·t·one N . B'k. Nov.,11884
886,'87, '89
do
July, 1 887
6
J . & J.
do
do
July 1, 1897
J. & J.
6
do
M.& S .
do
6
Sept. 1, 19071.
do
5 &6 m 'nthly
Boston and Portland.
1881 to '96
J . & D.
do
June 1, 188-f
6
M. & 8 .
Providence.
Sept., 1885
6
J. & J.
do
Jan., 189S
5
5 &6g. J . & J . Boston, Prov. and London.
Jan., 1900
Jan., 1900
5&6g. J . & J. N. Y., N. City Bank, &Prov.
5 g. J. & J .
do
do
July 1,190$
July 1, 1895
5 g. J. & J . London, Morton, Roae & Co
4,lg
,Tune 1, 189iJ
J. & D.
Providence.
do
5
JuJr 1, '99 & 19t0
J ..&..J .
1 892
do
7
Sept. 1, l88'Z-•~4,
Treasury.
5
M. & S.
May 1. 1885-"86
4½1 M.&N. Boston and Pl'Ovidence.
Q(}
·4½1 Varioua
do
1882-'89
Richmond, Treasurer.
J.& J., 18~1912
6
J. & J.
J. & J.
do
do
188-6&1904-:LOOO
8
7
7
7
7
7
6
6
5&6
6
6
6
··,r
7
6&7
7
4,5&6
6
6
6
6&7
7
10& 6
10
4
6
6
6
6
6 g.
6
6
7
6 g.
6 g.
6 g.
6 g.
6 g.
6 g.
5 g.
6 g.
7
7
I
}
J . . &.J. N. Y. , Meti-opoii tan N. Bk.
18si"io.iooa
N. Y., Union Trust Co.
189'3
F. & A.
1880 tornoi
Ya riollil New York and Rocllester.
N. Y., Union Trust Co.
Jan. 1,1903
J. & J.
1905
do
do
City Treasury.
1880001897
Semi-an
1880tol89'
J. & J . Boat., Hide & Leather Bk.
1891
F &A. Bath, Me. ,. First Nat. Bank.
Rockland, Treasurer.
1892
M.& 8.
1880 to'89
Various N. Y., Nat. .B'k Commerce.
do
do
Nov., 1889
M.&N.
1880to'89
Various St. Joseph anfl. New York.
1891
N.
Y.,
Nat.
B'k
Commerce.
J. & J.
<10
1901
F . & A.
do
1881 to'91
Various N. Y ., Nat. Bank R epublic
do
do
1882 to190G
Various
do
do
1 882 & '87
Various
1882 to'83
do
de
Various
Aug., 1898
do
do
F . & .A..
do
do
1 882 to'89
Various
do
1881 to '88
Various
do
Feb. 1,1885
F. &..,A. N . Y., Nat. B'k Commerce.
J. & D. New York and St. Louis. Jrine, 1887, to -90
A. & 0 . N. Y., Nat. -B'k Commerce. _ April · 1, 1892
Vario\Uj
New Yock or London.
1891 to'94
Nov. 1,189:J
do
do
M.&N.
do
M. &N.
do
do
do
J. & J.
J an. & June, 1900
do
do
Various
Dec. 10, 1892
J. &D. N . Y ., Nat. B'k Commerce.
rs~~ 1i~
J. & J .
M.& S.
6 g. J. &D.
do
do
do
<10
do
do
July 1, 1887
Sept. 1, 188.8
June, 1892
$491,481,202; suburban property, $35,197,912; farm property, $10,096, 115; a ll the personal being classified with the full city propertY.
A tax r a te of 2·20 on full city property is recommended for 188,.
Population, 1870, 674,022, age.wt 847,542 in 1 880. (V. 27, p . 02&;
v. 29, p. 435.)
Peoria, Ill.-Total d ebt, $686,500; tax valuation, 1876, $14,574,106.
Population, 3 1,780 in 1880; 22,849 in 1870.
.
Pittsburg.-Asaesaed valuation in 1880: R e a.I property, $85,744,990;
ersonal, only $2,516,540. Tax rate, 1 880, 20·4 mills per $1. Poi,.- ·
ation, 1 53,883 in 1880; 86,076 in 1870. 1nterest d efalllted A.pd.
1877, on Penn .A.venue improvement bonds, legal pointa being dh!puted. (V. 27, p. 68, 643; V. 28, p. 43, 302; V. 29, p. 383: V. 31, p, l~.f
P<>rtland, Me.-The sinking fund and available asaeta March 31, 188.J.,
were $203,221. Tho city is protected by mortg8.n"'68 on Atlan.t ic & l!!li,
Lawrence, Portland & Rocheate.r, and Portland & Ogden.sburg railroada.
Population in 1879, 35,010, again.st 31,413 in l870 , and 26,3U in 1880.
-Population in 1880, 33,835; 1870, 31,413 . Tho aasessed _v aluatl.-.,
tax rate , &c., have been:
.
P ersonal Rate of Tax Total
Binld.ng
R eal
Years.
Es1late.
P roperty. per $1,000.
Debt. Fun~ &c.•
1877-8 ... . $19,067,200 $11,825,64 5 $25 00 $ 5 ,507,900 $,j"T/ ,OW.
1878-9.... 19,212,800
11,458,354
25 50
5,316,600
360,815
1879-80. . 19,825,800
10,359,1 28
25 00
5,235,600
225,71,0
1880-81 . . 19,777,200
11,376,456
25 50
4,688,100
92,35.6
* These do not include the sinking funds for r a ilroad loans.
PromdMice, R. I.-The principal d ebt of Providence has been created
since 1 872 for water works, sewera~e, n e w City H a ll and B r ook st.rool;
Improvement. The sinking fund for bond~ due in 1885. $635,104';
1893, $238,126; 1 895-99, $317,139; 19oo-6, $119,457. PopnlatJ.o-.
1870, 68,901; 1880, 104,760. The laws of Rh.ode Island now limit tho
debts of towns to 3 per ct. of their aaseased valuation. Assessed va.luatioM (true value), tax. rate, &c., have been:
R eal
P ersonal
Tax per
Total
Ailsets in Bbtlc.
Years.
Estate.
P roperty.
$1,000.
D ebt .
Funds, &e.
1 878 . . .. $ 86,341,100 $30,699.400 $14 50 $10,090 ,550 $1,292,00'f
1 879.... 8 6,816,1 00
28 765,600
14 00 10,175,550
1,237,009
18 80... . 8 8,0 12,100
27,908 ,900
13 50 10,20 2,688
1,359,H2
1 881. ... 87,788,000
28,413,800
14 00 10,100.599
1,397 ,~58
S tate valuation, $168,547,726 ; city, $116,201 ,800. (V. 2 8, p . 57e,t
E
'.
CITY SECURITIES.
xiv
: : :
Subserlben -wHI conCer a great Cavor by giving immediate notice oC any error d18COvered In theae Tables.
DESCRIPTION..
J!lw explanations see notes on first page of tables.
Date of
Bondi}
Bt. Louis-( Oontinued.)
Renewal. .. ... . . ..... . ....... ... ... ... . . ..... . 1873 to '76
Park bonds, coupon, gold....................
1875
Oounty bonds..... .... . .. ................... ..
1875
Bt. Paul, M'inri.-Revenue bonds. ........... ... . Various.
Preferred bonds............................... . Various.
8 per cent bonds.. ..... ....... .. .. .. .. ......... .
....
i..ake Superior & Missism.ppi Railroad........
1 868
St. Paul & Chicago Railroad....................
1870
Public Park (Como.).. .. .. .......... .... ........
1 873
Local improvement....................... .....
1873
Bonds. ... . ..................................... .
1879
8ai,6m, Mass.-City debt............. . . . . . . . . . . . . Various.
~!i!.e~aii::::.·.·:::::::.·::::::.·::::::::::::::::
Size or Amount
par
outstanding.
Value.
Rate.
INTEREST.
When
Where Payable, and by
Pay'ble
Whom.
-----1--- - -- 1------------1------
$1,000
1,000
1,000
Various
Various
Various
500 &c.
1,000
1,000
1,000
1,000
100· &c .
1JgJ:9 1Mt~.
do
....... . . ,............................
1878
1 ,000
Ban .Ji'rancisco- Bond.s of 1858, coupon (gold).. .
1858
500 &c.
Jud~ent b(?nds, c~upon (gold) ...... . ....... 1863 to '64. 500 &c.
Central Paci!fc Ra1lroad, coupon (gold)......
1864
500 &c.
Western Pacific Ralli·oad,
d@
do .. . ...
1865
500 &c.
School bonds,
do
do ..... . 1866 to '67 500 &c.
Judgment bonds,
do
do . . . . . .
1867
500 &c.
Sehool bOnds ..... . .... •... ....... . ..... ........ . 1870 to '72 500 &c.
School bonds .. .. . ...... . . . .............·. .. ......
1874
500 &c.
Park improvement bonds............. .... .... 1872 to '7 500 &c.
Hospital bonds .................••............. 1871 to '73 500 &c.
House ef Correction bonds....................
1874
500 &c.
Ol.ty Hall construction . .................... .. .. 1875 to '76 500 &c.
Widening Dupont St. (Act March 4, 1876)....
1876
Baioannah, Ga.-New compromise bonds.... . ...
1879
100 &c.
,fknneroille, Mass.-Clty debt ........... . ........ . 1870 to '79 Large.
Cityd~ebt. ·_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-.::: :: : : :: : :: : :
....
Vta_~~~~do
. . . .. . . .. . . ... . ... . .. .. . . .. . . .. . . .. . . .
Various.
do
......... .... .................. ... . ...
Large.
do
.............................. . .... . . .
lOOO&c.
.Park&wat'r($170,000A.&O.; $155,000J.&J.)
Large.
Water loan . ...... .. ........... . . . . . . . . .. . . . . . . .
Large.
Bpringfleld, Mass.-City notes................. . .
Large.
Gity bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1-,000
Water loan ($200,000 are 6 per cents) . . . . . . . .
1,000
Railroad loan...................................
....
1,000
Toudo, 0.-General fund city bonds , coup .... .. 1866 to'79
Toledo & Wood-ville Railroad. ooupon. .. . .. ...
1870
Water works ($3,000 only 6s) ... . . ... •. ..... . . '73,'74&79
Short bonds, oba.r~eable on special assessm'ts 1874 to '80.
. ...
lri>rcester, .Mass.-C1ty delit, coup. and regist'd . 1861-'2-'71 Large.
<;)ity debt, ($250,000 reg., $550,000 coupon) .
1871
500 &c.
do reg. ($200,000 J &J., $300,000 A.&O.)
1872
500 &o.
do
rei· tered............ . . . . . . . . . . . . . .
1880
500 &c.
8ewerloan ( 92,000are J.&D., balanceJ.&J.) 1870 to'79 Various.
Water loan ( 05,400 reg., $80,000 eoup.) .... 1870 to '76 500 &o.
$850,000 7 & 6 g. J. & J . N. Y., Nat. Bk. of Com.
1889 to 189
1,900,000
6 , g. A. & 0.
do
do
April 1, 190
500,000
6 g. M. & N.
do
do
· May 1,189
707,425 5, 6 & 7 M. & N . N. Y., Kountze Brothers.
1880 to '90
48,710
7
M. & N.
do
do
1883 to'86
263,125
8
Va.riou8
do
do
1889, '90, '9 i
200,000
6
J. & D .
do
do
1888 & '98
100,000
6
J. & D .
do
do
1900
100,000
J. ·&·J.
100,000
115,000
6
A. & 0 .
do
do
April 1, 19
108,000 5¼ & 6 J. & J .
City Treasury.
1880 to 188
300,000
6
J. & J. Boston, Merchants' Bank.
Jan. 1, 18g
500,000
6
A. & O .
do
do
Apl. 1, 1883-1
398,500
5
J. & J .
do
do
July 1, 190
542,000
6 g. J. & J. SanF.&N.Y., La.idlaw&Co.
Jan. 1, 188
435,500
7 g. A. & O.
do
Oct. 1, 188 l
377,000
7 g. J. & J .
do
July 1, 189 !
250,000
7 g. M. & N .
da
May 1, 189 ~
197,000
7 g. A. & O.
do
Aprill, 188
246,000
7 g. A. & 0 .
d4'
Oct. 1, 188,.
385,000
7 g. 1J. & D.
do
Junel,1882to
200,000
6 g. J & J.
do
J ully 1&, 1 8 9
475,000
1 90 !
1 8 9'.7
6 g. J. & J.
do
210,000
6 g. M. & N.
do
Nov. 1, 189
150,000
7 g. J. & J .
do
July 1, 189 t.
750,000
~ g. J . ·& ·J.
915,000
5 g. Q-F. N. Y., Eugen~ Kelly & Co.
Feb. 1, 190
3,000,000
7
A. & O. Boston, Nat. Secmity Ban.k
April 1, 187
6¼ A. & O.
do
do
April, 1879 to
165,000
6¼ J. & J.
do
do
July 1, 1880to
6
Various
do
do
Oot.'81~'4,July I
115,000
140,854
5¼ Various
do
do
July, '84, Apl.,
200,000
5
~¼ ~:~i~~:
325,000
320,000 512, 6,612 Various
do
do
1880 to 190
222,000 412, 6 Various
City Treasury.
1879 to 188
211 ,000
6
Various Boston, First National B 'k.
1880-1889
1,200,000 6 & 7 A. & O.
do
' do
Apl. l,'94,tol
28-0,000
7
A. & 0.
do
do
Apl. 1. 1879-1
1,160,650 6, 7 & 8 Various N. Y., Imp. & Trad. N. Bk.
1881 to '94
432,000
7·3 M:. & N.
do
do
May, 1900
1,000,000
6 & 8 Various
do
do
1893, '94 & '
505,521
do
do
1879 to '81
7 & 8 Various
45,000
5 & 6 J. & D.
City Treasury.
1880-1885
800,000
6
A. & O. C.Treas.&Bost. Mohts.' Bk: April 1, 18
500,000
5
Various
do
do
1887- 89 & 19
4
A. & 0.
do
do
April 1, 190
500,000
311,900
5 & 6 Various
do
do
1880 to 189
385,400
5 & 6 Various
do
do
1880 to 190
+
a~
½i3~
I
I!
io
i~i~
4~~:&&&
~g
ReaJ.
Personal
Tax per$1,000
Total
Yen-rs.
Estate.
Property.
in old Wards.
Debt.
l:876 . ... $53,661 ,475
$1,958,900
18·75
$5,594 ,686
ra77.... 48,196,975
2,003,800
20·21
5,549,186
1878 .... 4.2,658,350
1,706,300
19·64
5,471,686
1879 .... 37,717,175
1,584,940
21·79533
5,446,186
Ri~hmond, Va,-Real estate assessed., 1880, $28,348,283; personal,
$7,471,488. Tax rate, $1 40. Population, 63,243 in,1880 ; 51,038 in '70.
:Rockland, Me.-Valuation of real estate, 1879. $2,488,883; :personal,
$1,069,436. Tax rate, $29 per $1,000. Population, 7,473 m 1880;
7 i074 in 1870.
St. Joseph. Mo.-Population in 1880, 32,484; in 1870. 19,565. As-l!e&Sed valuation of real estate, 1880, $5,723,784. Personalty, $3,294,451 · total. $9,018,235. Rate of tax, 1880, 32¼ mills. The aotual
"V>&lue of all property is estimated to be over $19,000,000. A compro·
mise of the d ebt is in progress, in n ew 4 per cent bonds. which are
gi_yen for the full principal a-nd interest of old bonds. (V. 28, p. 477; V.
32,p. 659.)
St. Lottis.-Popnlation by the United States census in 1870 was
310 864, against 333,577 in 1.880. The city and county were mer~ed
bT 1iaw in 1877 and city assumed the county bonds. The Comptroller
gives the following in his report to April, 1881 : The liabilities appear as
follows: The bonded debt at the elose of fiscal year (April 9, 1881) is
$22,417,000. A claim of the St. Louis Gaslight Company for gas fur•
ni'shed. amounting in all to about$850,000, wasdeoidedagainstthe city in
H!:80, but appealed. Assessed valuation of property and tax rate have
Me:s:
R eal Estate. ~Rate of tax per $1,000 ......_
and Personal
New
Old
Bonded
Years.
Propertv.
Limits.
Limits.
D ebt.
1578 ······· · · · ····· $173,086,330
$5 00
$17 50
$22,787 ,000
18?9 . .. ······ ··· · ·· 164,399,470
5 00
17 50
22,614,000
lfigO .... .... .. .. . .. 160,634,840
5 00
17 50
22,507,000
1851 ..... : . . . . . . . . .
. . . .. . . .. . .
5 00
17 50
22,417,000
St. Pa1,l, .Minn.-Population in 1870 wa.s ~,030; in 1880, 41,619.
.Assessed valuations of taxable property and tax rate have been:
Personal Rate of T ax
Total
Sinlrin~
Year!'l. Re.al Estate.
Property. per $1,000.
D ebt.
Funds, &c.
1!8.75 .. .. $20,836,710 $6,919,216
22 mills. $1 ,323,812 $616,2!l2
1:876 .. .·. 18,835,525
6,340,493
16 "
1,332,500
551,755
a~
'
Aph~l d~~·
iI
R eal
Roehester.-Total debt, $5,966,410. The bonds of Genesee Valley
Estate.
Railroad loan, $168,000, are provided. for by net receipts from a lea.se of Years.
11&id road to Erie Ra.ilway. Population, 87,057 in 1880; 62,38 6 in 1870. 1877 .... $18,993,545
A!!Sessed valuation (60 per ct. of true value), rate of tax, &o., have been: 1878.. .. 17,300,486
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
a~
I
I
P ersonal Rate of Tax
Total
8·
Property. per $1,(?00.
Deot. Funds.,
$ 5,452,871
18 ~p.s. $1,327,200 $567,
5,491,026
13
1,356,444
616,
1879... . 17,300,766
5,942.503
15 "
1,519,310
656,
-Valuation of real estate is about 40 per cent of true value.
Salem, Mass.-The sinking fund amounts to about $190,000. Pop
tion, 27,327 in 1880; 24,117 in 1870. Tax valuation, 1879, $22,937,
San .Frwncisoo.-Population. 233,066 in 1880; 1 49,482, in 1870. R
estate for the fiscal year ending June 30, 1880, wa.s assessed at $1
939,604. About $37,000,000 of mortgages are now omitted from ass
ment. Sinking funds raised annually amount to $263,500. Tax ra
1879, $1 37 per $100; in 1880, $1 57 per $100, for city and county
poses. (V.28, p. 165.)
Savannah, Ga.-Default was made on interest Nov. 1, 1876, in con
quence of yellow fever and non-collection of taxes. The compro ·
as reported in V. 26, p. 625, gave new 5 per cent bonds for the face of
bonds; and for interest up to Feb. 1, 1879, 58 per oent o! the face v
in similar bonds. Assessed value of real estate and tax rate each y
have been as follows: In 1875, $13,932,012, $ 22 50; 1876, $14.256,5
$22 50; 1877, $14,256,540, $15; 1878, $9,946,633, $25; 18
$10,100,000, $25. Population in 1870, 28,235, against 30,747 in 18
-(V. 26, p. 18,626; v. 27, p. 122, 173, 568; v. 28, p. 17.)
Somerville, Mass.-Total d ebt, J anuary 1, 1880, $1,585,000; si
:flmd, $198,000. Exoept $140,000 5s in $1,000 pieces, all bonds ar ;..
$2,000 to $50,000 pieces. Population., 24,964 in 1880; 14,635 in 18
Springfield . .Mass.-Total d ebt, .January, 1880, $1,960,750. The
road d ebt falls due $20,000 each year. Population in 1 88 0, 33,5
1870, 26,703. Tax valuation and rates have been:
:
Personal Rate of Tax
Total
II
Years.
Real Estate.
Property. per $1,000.
Debt.
I •
1877.. ... 23,737,000
6,955,776
13 00
1,946,611
t
1878. .. . . 22,746,330
6,637,845
11 00
1,953,716
,
1879 ... .. 22,211,230
7,230,094
12 00
1,960,750
-Valuation of real estate is about 67 per cent of true ,, a1uc.
Toledo.- Total debt, January, 1881, was $3,316,091. Of this the
_payable by special assessments was $505,521, and the certificates
indebtedness, $62,641. Ta:xable valuation o! real esta,te, 1878, $1
805,945; personoJ., $5,350,150. Tax rate, $3 36 per $100. Populati
53,635 in 1880; 31,584 in 1870. (V. 30, p. 356.)
Worce.ster, Mass.-TotaI debt, January 1, 1880, $2,542,300. Ass
$210,658, including $94,737 sinking fund. Population, 58,040 in 18
41,105 in 1870. Tax valuation, 1870, $34,018,450; 1879, $39,591,3
tax rate, 1·56.
I
I
I
I
~
...
.
RAILROAD STOCKS AND BONDS.
xv
Subserlber8 wlll eo n Cer a great Ca..-or by giving Immediate notice oC any error dl8o-overed tu the8e Tabl08.
Bonds-Pi·inciINTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
When Due·
Amount Rate per When Where Payable, and by ·pal,
of
Par
Stock-a-Last
r explanation of column headings, &c., see notes of
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
on first p age of tables.
labam« Central-1 st morw. gold coupon .........
labama N. O. 'l'exas cf: Pac-i c Junc.-Debentures ..
la.& Gt. South'n.-Recei ver's certitlc.of Ala.&Chatt
l stmort.§age, coupon, (for $1,750,000) .... . .......
lbany di: usqitehanna-Stock ............ . .........
l at mortzage ........................ · · .. · · ·. · · · · · · ·
Albany City loan (sinking fund, 1 per ct. yearly).
2d mortgage ........ . ............... . ....... . .......
Consol. mort. (~uar. D. & H. endorsed on bonds) ..
llegany Central-1st mort., gold ($8,000 per mile) .
lleghenyValley-Sto ck . .... . . ................... .. ..
General mortgage (Riv .. lJiv.) .....................
Bonds to State Pa. (endorsed) 2d mort.• East ext.
lat mort., East'n Exten., ~uar. bib Pa. RR .. ......
Fundino- income bonds, ,nth tra c guarantee .. ..
f>tador Bt·anch,-lst mortgage .. . ...... ... . .........
shevitle <f: Spartanburg-1st mortgage, golcl .......
shtabi,la <I; Pittsb'!,rg -1st mortgage, coup. or reg . .
tchison Col. & Pacific-1st mort., µ:uar ... . .... . ...
tehison Jewell Co. <I: West.-lat M., guar. C.B.U. P.
tchisvn Topeka <I: Santa Fe-Stock .................
1st mortgage, gold .......... ............. ... ..... ..
Land rant mort~age, gold ..... : .................
Conso . bonds, go d ................................
Construction notes ........ ~ ........................
Land income bonds, 5 to 10 years ................
Bonds for stocks purchased, gold ..................
8. F . bonds for purchase of K. C. L. & S. K . stock.
8. fund bds., $25,000 p. m . (secured by mort. bds.)
Wichita & Southwest., 1st M., gold, g-uar .........
Kans.d~ity Topa! West.i~~~~it~iia~l~.:::::: : :::
Pueblo & Ark. Valley, 1st mort., gold, guar ......
do
do 1st (,t,; 2d on 1 48 miles) guar .. .
Kangas City Emporia & S., 1st mort., guar .......
C wley Su mner & Fort S., 1st mort., guar ... . . . ..
--95- -1878
1881
$1,000
Alabama Centt·al.-Deoember 31, 1880, owned from Selma, Ala., to
auderdale, Miss., 96 miles; leased (M. & 0.), 18 miles; total operated,
4 miles. Chartered as Alabama & Mississippi February 17, 1850, and
ad opened from Selma to York (81 miles) Ang. 10, 1863. Subsequentname changed to Selma & Meridian, and June 21, 1871. re-org_~nized
Alabama Central. Default January 1, 1872, and finances re-adjusted
1878. Capital stock, $2,000,000; first mo1tl:$"a~e (on 95 miles) 6 per
nt 40-year bonds, due July 1, 1918, $1,000,uOu. Income mortga"'e
per cent (if earned) 40-year bonds, due July 1, 1918, $1,400,000;
tal stock and bonds under re·adjustment, $4,400,000. In 1881 a conollin~ interest was sold to the East Tenn. Va. & Ga., by which this
ad is now operated. In 1880, gross earnings were $229,105; net,
6,095. (V. 27, p. 40, 566; V. 32, p. 2~8; V. 33, p. 559.)
Alabama New Orleans Texas <I: PMijlc Junction.-The preferred or "A"
ares authorized are $12,500,000, and the deferred or "B" shares
thorized also $12,500,0uO; and of the total $25,000,000, about $15,0,000 are out. The company purchased the Vicksburg & Meridian,
icksbm·g Shreveport & Pacific and the New Orleans & Northeastern
ilroads. See V. 33, p. 22.
Alabama Great Southern.-Dec. 31, 1880, owned from Wauhatchie,
enn., to Meridian, Miss., 290 miles; leased,Wauhatchie to Chati,'1.nooga,
miles; total operated, 296 miles. Northeast & Southwest Alabama
artered Dec. 12, 1853. Reorganized as Alabama & Chattanooo-a Oct.
, 1868, and was opened May 17, 1871. Default made Jan. 1, 18'.fl, and
ad sold under foreclosure Janua ry 22, 1877. Present company
r anized November 30, 1877. N ew company assumed Receiver's cercates and issued new bonds for $1,7 50,000. The lands were conveyed
full settlement to the holders of the $2,000 ,000 of Ala State bonds.
hese lands (about 550,000 acres) are held by trustees. (V. 30, p. 117.)
he road and equipment have been thoroughly renewed. Capital stockmmon, $7,830,000, and preferred 6 per cent, $783,000; funded debt,
1,750,000, and Receiver's certificates, $200,000 (of which $134,000 in
tigation. all valid certificates allowed ·b y U.S. Court paid on presenta
on) . Gross · earnings in 1879, $444,181, and operating expenses356,283; net earnings, $87.897. Gross in 1880, $643,130; expenses,
5 1,335; net. $191,795. (V. 31, p. 94; V. 32, p. 499, 611; V. 33, p. 125 .
.Albany & Siisg,uehanna.-Deoember 31, 1880, owned from Albany, N)
., to Bino-hamton, N. Y., 142 miles; branches-Quaker Street, N. Y.·
Schenectady, 14 miles; Cobleskill, N. Y ., to Cherry Valley, 21 miles ;,
t_al operated, l 77 miles. Chartered April 19, 185 1, and road opened
an. 14, 18(39. Steel rail, 135 miles. Leased -in perpetuity from Feb.,
870, to Delaware & Hudson Canal Company; rentals, 7 per cent on
tock and bonds. Additions ·and betterll).ents charged to lessors, and
ost made part of investment. In 1871 lessees built the Lackawanna &
usquehanna Railroad from Nineveh to their P ennsylvania coal fields,
d secured the joint use of the Jeffer son Railroad. This opening
e.ve a large coal traffic to the road and to the other Delaware & Hudon leased roads n01th from .Albany to the Canada line. The con soliated mortga~e is for $10,000,000, o,f which $3,450,000 is to retire old
onds, and baiance for a part of old stock and to lessee for improveents. Gross earnings in 1879·80, $1,538,982; n et, $657,288, against
558,268 in 1878-9 and $456,580 in 1877-8. Interest, div idends and
ntals in 1879-80, $721,371. Loss to lessees, $64,083. (V. 29, p. 5 81 ;
. 31, p. 357, 483; v. 32, p. 99. 205.)
.Allegany Central. - Narrow gauge road from Olean, N. Y., to Swains,
l miles. The road was n early completed J an u ary 1, 1882. The :;otal
ssue is $600,000, and the bonds are redeemable any time at 105.
.Allegheny Valley.-Dec. 31, 1880, owned from Pittsburg, to Oil City,Pa.,
32 miles; branches-Red Bank, Pa., to Driftwood, 110 mile-s; others, 17
es: total operated, 259 miles. Chartered April 4 , 1837. Road opened
hrough to Oil City (132 miles) F eb. 2, 1870. Low-Grade Div., Red Bank
o Driftwood (110 miles ) opened May 4, 1874. The company became emarrassed in 1874 and compromised with its creditors. It still falls short
f earning interest liabilities, which amount to $1,630,000 a year, viz.:
n mortgii_,ge bonds, $1,152,000, and on income bonds, $478,000. The
mount of mcome bonds authorized is $10,000,000; these receive all
venue left after interest on prior liens, and any deficiency is made up by
dditional issues. The income1coupon for Oct. 1, 1881, r eceived $12 00
casb and balance in bond scnl!. Of the income bonds the Pennsylvania
R., Northern Central and Philadelphia & Erie hold $4,587,000, the
nterest on which is paid alto o-ether in bond scrip; the bonds held by
dividuals are paid in cMh an'a: scrip. Interest.t &c., in le80 in exce.ss of
et earnings, $315,109. The earnings, &c., for nve years were as follows:
Passenger
Freio-ht (ton)
Gross
N et
ears.
Mileage.
Mileage.
Earnings.
Earnings.
876 ..... 14,939,527
98,029,140
$2,438,'l54
$1,083,796
877 ..... 19,833,405
106,609,036
2,492,080
1,144,972
78 . . ... ] fi ,S_n-t,0 54
84,077,541
1,910,222
915,727
79 ..... 13,976,446
94,606,809 .
1,745,316
761,835
880 .. - .. 16,119,027
107,352,410
1.919,528
832.301
(V. 30, p, 463; v. 31, p. 381; v. 32, p. 367, 525; v. 33, p. 440, 467.)
.Amador Braneh-Galt, Cal., to Ione, Cal., 27 miles. Leased in pertuity from Jan. 1, 1877, to Central racific-rental $3,500 per month.
tock, $675,000. Leland Stanford, President, San Francisco.
Asheville ~ .Spartan burg.-Road, as projected, extends from Spartan-
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
---- - - -
$1,000,000
6
J. & J . N. Y., J esup, P . & Co.
5,000,000
M."&·s.
200,000
296 1878
6 g. .r. & J . N.Y.,Farmers'L: & T . Co
1,448,000
1:000
177
100
3,500,000
3½l J ·. & J. N. Y.,B'k of Commerce.
142 1863
1,000
1,000,000
J. & J. N.Y.,Del. &Rud.Can.Co
7
142 1865
1,000
1,000,000
M.&N.
6
do
do
142 1865
1,000
1,807,000
A. & 0 .
do
do
7
142 1876
1,000
2,605,000
7
do
do
A. & O.
61 1882
1,000
6 g. J. & J.
500,000
New York.
259
50
2,16 3,500
··7:30 J. .&.J. N. Y .,
132 1866
1,000
4,000,000
&Co .
110 1870 100,000
3,000,000
5
Jan'ary Harrisbm·~, Treasury.
110 1871
1,000 10,000,000
7
A. & 0 . Philadelphia or London
259 1874 100 &c.
7,571,800
7
A.. &O. Pittsburg, Co.'s Q.ffi.ce.
27 1877
1,000
675,000
J. & J. N . Y., Cent. Pacifto RR.
6
30 1876 100 &c.
400,000
7 g. J . & J. 0,harleston& New York.
62 1878
1,000
1,500,000
F. & A. Phil., Fid. I.T. & S.D.Co.
6
229 1879
1,000
3,672,000
6
Q.-F. N. Y. , Hanover N. Bk.
34 1879
1,000
542,000
Q.-F.
6
N ew York.
100 54,337,500 50 in stk. Q.-F.
Boston.
867 i869 500 &c. 7,041,000
7 g. J. & .T. Boston, North Nat. Bk.
7 g. A. & 0 .
1870 500 &c.
2,915,500
do
do
127,000
do
7 g. A.. & o.
do
78,000
.r. & J.
Boston.
7
i878 500 &c.
438,500
J. & J.
do
8
1,000
1,161,000
18':30
5 g . A. & o.
do
1,000
1880
3,743,000
.5
M. & S.
do
1,000
1880
5,150,000
4¼ A. & o. N.Y., Nat.Bk. of Com'ce
1,000
412,000
7 g. J. & J . Boston, North Nat. Bk.
27¼ 1872
1,000
65 1875
7 g. ,r. & J. Boston, Everett N. Bk.
8 54,000
200,000
1878
7
M. & 8.
do
do
1413 1875
1:000
1,633 ,000
7 g. J. & J. Bost., N. Bk. of N. Am'a
1,000
137 1878
1,942,200
7 g. J . & .r.
do
do
1,000
1879
532,000
7
J. & J. Boston, North N at. Bk.
1,000
1879
798,000
A. & o. Bost., N.Bk. of Reptiblic
7
233
··a·
Winaiow;L.
July 1, 1918
·i ss2· ·
Jan. 1, 1908
Jan. 1, 1882
July, 1888
Nov., 1895-'97
Oct., 1885
April 1, 1906
J a n. 1, 1922
i:
Mar.oh. "i896
100,000 y'rly.
.April 1, 11:110
Oct. 1. 1894
Jan. 1. 1907
J an. 1, 1897
Aug. 1, 1908
May 1, 1905
May 1, 1905
Deo. 2, 1 881
J uly, 1899
Oct. 1, 1900
1903
1 882
Jan . 1, '83-'88
April 1, 1909
Sept. 1, 19·2'0
Oct. 1, 1920
July 1, 1902
July 1, 1905
Mar. 1, 1906
July 1, 1 905
July 1, 1905
July 1, 1909
Oct. 1, 1909
burg, S. C., to Asheville, N. C., 67 miles, of which 48 miles, Spartanburg
to Hendersonville, are in operation. Placed in hands of receiver November, 1878. Capital stock, $1,000,000. (V. 32, p. 17, 396.)
.Ashtabula & Pittsbm·g.-December 31, 1880, owned from Youngstown,
0., to Astabula H arbor, 0., 62·6 miles. Organized as Ashtabula Youngstown & Pittsburg in 1870, and road opened May 1, 1873. P ennsylvania
Company, as lessees, guaranteed bonds up to J anuary 1, 1877. Default
July 1, 1878, and property sold Au~st 21 1 1878. Existmg company
or~anized September 25, 1878, and it 18 leased by Penn. Co., which pays
net earnings to A. & P. The common stook is $958,491 and preferred
stock $700,000. Earnings, &c. , for five years were as follows :
Years.
Stock.
Bonds.
Earnin!?S. Expenses. Profit@.
1876 . ..... ... $1.,817,582 $1 ,900,000 $266,6il $178,998 $87,643
1877......... 1,817,880
2,000,000
227,206
176,993
50,21-3
1878 . . . . . . . . . l ,671,867
1,500,000
271,658
181,731
89,927
1879 . . . . . . . . . l,658,491
1,500,000
252,604
183,625
68,978
1880.... . .... 1,658,491
1,500,000
282,64.3
198., 815
83,82'7
.Atchison Colo'i·ado & P acifi,c.-In Februa ry, 1880, the Waterville &
Washiu~on, Republican Valley, Atchison Solomon Valley & Denver and
the Atcnison Republican Valley & Pacific railway companies were consolidated into a new company called the Atchison Colorad~ & Pacific
Railroad Company, and a new fl.rat mortgage of $16,000 a mile, with.
interest at 6 per cent per annum, issued to take the place of the fl.rat
mortgao-e bonds of the railroad companies named. The road is an extension of the Union Pacifte Central Branch, by which the bonds are guaranteed and the road is controlled, and the whole system is virtually
owned and controlled by Union Pacific. (V. 3 0 p. 221.)
Atchison Jewell Co. & West.-Under !jame au.spices and control as
Atchison Colorado & Pacific.
.Atchison Topeka & Santa Fe.-Dec. 31, 1880, m.ileage was as follows :
Main Line-Atchison to Kansas Stat-0 line, 471 miles. Leased~Kansas
City to Topeka, 66 miles; Pleas't Hill to Ced . .Tune., Ka., 45 m1les; Emporia to Howard, 76 miles; Floren ce to El Dorado, 29 miles; FloreD.CG
to Lyons, 79 miles; Newton to Wichita., 27 miles ; Wichita to Arkall8aa
River, 69 miles; Wellington to Caldwell, 23 miles; Kan. State L. t o S.
Pueblo, Col., 149 miles; Pueblo to Rockvale. Col., 37 miles: La Junta to
N. Mex. State L., 96 miles; Col. St. L . to San Marcial, N. M., 3 54 mil~s;
Lamy to Santa Fe, 18 miles; San Marcial to De1ning, N; M., 128 miles;
Laurence , Kan., to Coft"eyville, 143 miles; Ottawa Juno. to Olathe, 32
miles; Cherryvale to Harper , 166 miles; Ottawa Jun ction to Burl, 43
miles; total leased, 1,580 miles. Owned jointly-Burlingame to Manh attan, 57 miles. Total controlled a nd operated, 2,108 miles.
The Kansas City Lawrence & Southern Kansas was acquired by
purchase of the stock in Sept .. 1880, and the 5 per cent bonds .dne
Sept. 1, 1920 , i.Rsued therefor (V. 31, p. 559), with sinkin~ fund of 1 per
cent a year. On Feb. 1, 1881, 25 per cent additional stock was i.ssue.i
to stockholders at par. (See V. 32, p . 43.)
The Kansas City Topeka & Western is leased, and the lessee pays
interest on the Kansas City Topeka & West. bonds as rental. The New
Mexico & Southern Pacific is leased for thirty years at 37 per oent
of gross earnings and a rebate of 15 per c~nt on all business to and from
the Atchison Topeka & Santa Fe Road. The 5 p er cent bonds we.re
issued for stocks purchased, and 4½l per cents for extension of the
line to El Paso, and have the 6 per cent mortgao-e bonds of the
Rio Grande Mexico & Pacific and the Rio Grande & El Paso road11 deposited as security for them. The sinking fund is 1¼ per cent, rising
to 3½ by 1910.
A dividend of 5 0 per cent in stock voted Oct. 7 to stockholders of
record October 24; also a subscription of 15 per ce nt new stock at par.
The total capital stock when all is issued-$54,337,500. See V. 33, p. 4.11.
An agreement was made. in Feb., 1880, with the St. L . & San Fran., for
the joint construction of a line to the Pacific, under name of Atlan. &Pae.
For terms ·see St. Louis & San Francisco in this SUPPLEMENT, and also
the circular published in CHRONICLE of April 24, ·1880 The company in.
1879 was engaged in sharp litigation with the D enver · & Rio Grande. In
J anuary, 1880; by terms of mutual agreement, the suits w ere all terminated. The agreement is to be binding for ten years, and a judicial doome
was entered to affirm this settlement. The annual r eport for 1880 w.u
published in the CHRONICLE, V . 32, p. 442. Income, etc., for four
years was. as follows :
INCOME ACCOU1''T.
1,191,85 6
1 ,9 28,589
3,748,410
1880.
$
4 ,302,837
Rentala paid ........ .
Interest on debt ... .. .
DivJdends ..... . ..... .
Sundry debits ....... .
Gold premium ....... .
Exp'ses Boston office.
Miscellaneous ....... .
Balance, surplus . ... .
279,921
833,6 53
401 ,267
790,513
·25:734
836,772
795,446
691,311
72,812
864,273
734.6.27
1,727,195
35,125
17,733
14,124
20,691
4,083
30,199
22.108
634.,620
l,3ii:579
Tota l ....... . ... ..
1,191,856
1,928,589
3,748,410
1877.
$
Total income ........ .
Di.,;biirsements-
"' Inoluded in operating expenses.
1878.
$
"45:799
1879.
$
·40:490
*........ . .
4,302,IJ37
RAILROAD STOOKS AND BONDS.
xvi
(V01,. XXXIII.
8nbt!ler1ben 'Will eonCer a great Cavor by giving lm.rnediate notice oC aily error dl8covered In these Tables.
~JI'
Bond s-Princi
DESCRIPTION.
INTEREST OR DIVIDENDS. ·
Miles Date Size, or
pal, Wllen Due.
A.mount Rate per When Where Pahable,
explanation of column headings, &c., see notes of
of
pa.r
and by SU>eka-Laat
Outstanding
on first p age of tables.
Cent. Pay'ble
W om.
Road. Bonds Va.lue.
Dividend.
-- -- ---
,.,l.,eA~ Topeka & Santa Fe-( Oon.timted.)- ·
Marlon & McPherson, 1st mort., guar ............
Pit,at1ant Hill & De Soto, 1st M., gold ........ ... ... "'44
Fllorenoe El Dorado & W., 1st mortgage, gold ....
31
:New .Mex.loo & So. Paoifl.o--lst mortgage, gold .... 380
A.tt-anta d: Oharlotle.-New pref. mort . ......... . .... 26512
26512
~~=!g~.~seiisiered
·--A -tla'l'tla ti: West Point--StocK .........................
87
Debruiture oertitloates for dividend . ............ ....
All.d!Pac. -lstg., s.f.,cp.or rg.($25 ,000p.m.onW.D. ) .....
Inoome bds., non-C'-um'tive, ($18,750p.m.onW.D,) ....
1 st RR. & land grant bonds on Central Division .. .....
1-ai land grant bonds o Central Division . .. . . . ... .. .. .
Atlantic d: lit. Lawrence-Stock ($5 ,457,100 stg.) . . 150
lost 100rt. to City of Portland (sinking fund) ......
2d morti:,"age, sterling, 5-20 years .... . ............ i5o
Sd
do
do
do
................. 150
,A'Mffl.u;ta c1; Savannah-Stock ............ ............
53
Bald Eagle Valle]J~n'lmort.,(s. f. $4,000 per yr.1
54
.B.;utSmore cf; Ohio-Stock .... . . .......... ....... .... . . 595
Preferred stock .................................... ....
Loan, 1853 ··············· · ·················· · ······ ....
do 1870 ,sterlin~, .£800,000, sink. fund .... ... ....
B<lmore loan, 1855-'90, sink. fund ..............
fJterlin,g; mortgage, sinking fund . ........ ....... . .. 41i
@terU.ng mortgage, sinki.ng fund .............. . ... 421
Pnronaseo:t ConncllEr-v. RR (payable$40,000y'ly)
Loan, ster., (s. f. £7,500) lien on Ohio. line bonds. 263
Bonds on Parkersburg Branch .................... 104
Northwestern Vir,!!;inia. 3d mortgage, 1855-85 ...
Jlonds to State of Maryland .............. ... ......
~ o r e ti P.otomao--lst M (tunnel) ~old, s. f. 1 p. c.
lat mort., road, gold, coupt)n, s. f. 1 })er oent .... .
89
~ mortgage, income, road and tunnel, reg . ... .. .
90
<iiof ouiiitiiaii~e>:::::::
....
..i½
1879
1877
1877
1878
1877
1877
1880
$1,000
500
1,000
1,000
1,000
1,000
500
100
$6-04,000
120,000
310,000
5,610,000
500,000
4 ,250,000
750,000
4,23 2 ,200
---1,232,200
1881
1 880 lOOO&c. 10,000,000
7;500,000
1880
50&c.
1,189,905
.......
. ...
795,000
....
....
.iioo 5,484,000
787,000
.... .
. ...
£100
1,499,916
1 864
712,932
£100
1871
1,022,900
....
100
400,000
1,000
1880
100 14,792,566
... ...
5,000,000
.... .
100
1,710,000
1853
. ...
2.755,110
1870
. ....
2,718,748
1855
1872
iioo 8 ,326,115
8,981,136
1874
£200
800,000
1875
£200 7.744.000
1877
3,000,000
1879
1,000
140,000
1855
. ...
366,000
1878
1,500,000
1871
1:000
3,000,000
1871
1,000
2,000,000
1,000
l.875
Llmd grant estimated to be 2,932,784 aores, of whloh 1,016,431 acrefl
eold to January 1, 1881; in 1880, 78 241 a.ores were sold, for
,327 , or $4 99 per acre. (V. 30, p. 16, 42,143,168,191,383.408
, 491. 504., 533, 543,674; V. 31, p. 109, 381, 428, 482, 5-59. 588,
CIMJ; v. 32, p. 43, 99, 182, 420, 431,442; v. 33, p. 23, 357, 411, :,{}2,)
Atlanta tE Oha1·lotte Air•Lfae.-Dec. 31, 1880, owned from Charlotte,
:R. C.i to Atlanta, Ga., 269 miles. 8uooessors of Riehm. & Atl. Air-Lille,
-whien waa a con.solidation (1870) of three separate lines in No. Co.rolina,
,~
Clarollna. and Ga. The whole road was opened for tra.ffic Sept. 28,
~ Soon after completion default was made, and the property p88800
11t a reoeiver Novemhor 25, 1874. Sold under foreclosure December 5,
W76, and puroh8.6ed by the bondholders, who formed the existinu cor•
.......,,
poretlon Februacy 27, 1877, and p088e88ion wos taken April 16, 1877. ·
Qn .Ma1ok 26, 1881, the road was leased to the Richmond & Dan"\oille.
ft8 line forms the Southwestern Division of the Piedmont Air-Line
control of the Richmond & Danville Railroad), extending from
:8.\ohmond, Va., to Atlanta, Ga., 550 miles. Capital stook $1,700,000.
Total reooipts in 1880, $951,688; expenses, $.187,550; net, $364,137.
Interest. &o., $337.700. Surplus, $26,437. Two per cent paid on incomes,
Ayril, 1881. (V. 30, p. 272, 432; V. 32, p. 443; V. 33, p. 687.)
enoor
A-Uanta & West Point.-.June 30. 1881, owned from East Point, Ga .. t-0
Wt»Jt Point Ga.. 81 miles ; leased, 6½3 miles; total operated, 871g miles.
1n April, 1881, a controlling interest in the stock was purohased by w.
M. Wadley a.nd others for tlie Central Georgia. and a stock dividend of
100 per oent was afterward declared in deben t m·e oertiflcatea. Gross
~ g s i n 1879-80, $36~'-130; n et. $~53,319; in 1 880:81, g_ross, $418,·
064, ootz.. $1v7,634 . (V ~9, p. 300 , V. 31, p. 12,1, V. 32, p. 444,
ti35 i
~3, p. 224,)
v.
AUatntic <f Pacin~.-Road completed from Albnqnerque, on .Atchison
Tep. & Santa Fe, about 3-00 miles, to the elose of 1881, and in progress
illl Big Ool-0rado River. Tl.le oompany is buililing a Pacific line, of all-Out
G08miles,in connection witll the Atch. Top. & Santa Fe and ti.le St. L. &
8an_Fran .. whlch companies guarantee 25 per oent of the g ross earnings
aer iheir respective lines to and from this road, one year after its oom•
»'etion, provided itR own earnings are ins ufficie nt to p a y coupons. The
lionds were ~old, with ab-Onus of $750 in income bonds for eaon $1,000
Ann mort~.ge. The 1 st mo1·t. con. bonds are $1,000 each and r eg. b-Onds
5..000 eaen. Tl.le stock ~tnthorized is $100,000,000, and issued to July,
1881, IJ!l9,760,300, of whioh nearJY all is owned by the Atch. Top. & 8 .
the Bt. Louis & San I<'ranmsco companies equally, and held in
]jle and
trust for 30 years for those two companies. The land ivan~ claimed.
llllder the old Atl. & Pn.citlo grant is 25,600 acres p er mile m Territol'ies
lmd 12,800 a.ores in States, and on oompletion or tno first 50 miles, Oc t .,
:tseo., the U. ~- Attorney General held the company wa.s entitled t-0 hmds
on that section. See CHRONICLE, v. 30. p.433; V. 31,p. 204,428,452,
482,534;
v. 32, p. 182, 670; v. 33, p. 99,356,357,467, 6 21.)
AUa.ntle & St. Lawrence.-.June 30, 1880, owned from Portland, Me., to
IMand Pond, Vt. 149½3 miles, there oonnooting with Grn.nd Trunk of
Qma.da, to wbiob leased for 999 years, August 5...t 1853, at a rental
tlltlal to 6 per cent on stoo.k a.nd bond inteI.·es-t. t:apital, $5,484,000,
of whiab $27,000 is ill U. B. currency. (V. 27, p. 147.)
A1'{Jff$ta "
SaMnnah.-Bept. 1, 1880, owned from Millen to Angnsta,
G~ 53 miles. Ohartered a8 Burke County iu 1838 and opened in 1 854.
J.eased to Central or Georgia for $73,000 per annum. Has no bon<led
deet. The oa.pital ($1,022,900) represents its cost. Dividends of 31g per
sent are paid June and Dec. e:w.h yea.r. Has a considerable 1;urplus fund.
Bald Eagle VaUey.-~cemoor 30, 1880, owned from Vail Station, Pa.,
t8 Lookhavt=:nt Pa., 51 rmles; branch, Milesburg, Pa.., to Bellefonte, Pa ,
3 miles; touu operated, 54 miles.
Opened December 7, 1864, and
leMed to P ennsylvania Railroad Company for 99 years. Tbe
llnmoh is the joint property of the lessors and lessees. Rental. 40 per
aent of gross earnings. Interest, $24,000, and dividends (January and
~fLeaoh 212 per cent), $27,500. In July, 1881,4 per ct. div. was paid.
QJiOOK, $550,000. Tlte gen. mort., dated Jan. 1, 1880, Wl18 provided for
~ l a c e ment of the two eeries of bonds. In J anuary, 1881, purthe Bellefonte & Snow Shoe road for $300,000, a.s reported.
-{V. 27, p. 486; v. 32, p. ~9, 396.)
Baltimor, & OMo.-September 30, 1880, mileage was as follows:
Miles.
Miles.
Ba.It. to Wheeling (main) ..... 370 Winchester to Strasburg .... _ 19
Branches-To Locust Point . .
5 Strasburg to HarTisonburg...
49
08.Inden out--0ff. . .. .... ......
2
-Ju.notion to Frederick City.
3 Total bmnches leased . . . . . . . . 113
Ft. of Rooks to Wa.ahington
43 Tot al B. &O. ma.in and brches . 548
Bridges........... .. . . . . . . . . .
3
Lea.sod ~d controlled- - Re1ay Hou.se to Washington . .
31
Total owned....... . ..... . . . .. 435 Grafton to Parkersb'g, W.Va.. 104
Wheeling to Washington, Pa.
32
Branches leased- ·
Pitt6burg to Cumborla.nd,Md. 150
~ l e to Shepherd. Md .
1:-l Hic.'l:!nnan Run Jllllction to
ester to Harper'l3 Ferry
32
Jim town, Pa. ....... . ....... .
2
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
----
7
A. & 0. Bost., N.Bk. ofRepubllo
7 g. A. & 0. Bost-0n, Everett N. Bk.
7 g. A. & 0. Boston, Bk. of No. Am.
7 g. A. &O.
Boston.
A. & 0.
7
New York, Office.
J. & .T.
7
do
A. & 0 .
6
J. & J. Atlanta,"iia:,·atTreas'y.
6
....
Oct. 1, 1909
1907
.July 1, 1907
April 1, 1909
April 1, 1897
Jan. 1, 1907
A p ril 1, 1900
Aug. 1. 1881
·c
.i910
.T. .& ..T. New y oi·k. aiii:i" B-Oston. Juiy.
A. &O.
. ...... . .....
Oct. 1, 1910
1\1.&N.
New Yor k .
1901
At Mat.
do
1901
M . & 8. London, Gr. Trunk Rw. &pt. 15, 1es1
M.&N.
._ ov. 1, 1888
Trnnk Rw. Oot. 1, 18 ·4
A. & 0 . London·,
M.&N.
May 1, 1891
do
do
J. & D.
Savannah.
Dee . 2, 1881
J. & J. PWla.,Far.&Mech.N.Bk Jan. 1, 1910
M.&N.
Baltimore Office .
Nov.1, 1881
3
J. & J . Balt., Merchants' Bank. .Tan., 1882
A. & 0.
6
Baltimore Office.
1885
6
M.& 8 .
London.
1895
6 g. •J. & J.
Baltimore, Office .
1890
6 f!, M.& 8 .
London.
Mch. 1, 1902
6 g. .M. & N. London, Speyer Bros.
1910
6
J. & J.
Baltimore, Office.
1 881 -1900
J . & D. Lon., J. 8. Morgan & Co. June 1, 1927
5
6
A. & 0 . Balt. &N.Y.,D. M &Co. April 1, 1919
6
J. & J . Balt., Balt. & O. RR. Co.
1885
6
J. & .r.
do
do
July 1, 1888
6 g. J. & J . Balt. or London or N.Y. .July 1, 1911
6 g. A. & 0 . Phila., Penn. RR. Co. April 1, 1911
Baltimore.
6
J. & J.
.Tan. 1, 191-5
6 g.
6
6
6
3
6
6 g.
6 g.
3½3
6
5
·ur·:
I
Miles.
Miles.
Broadfo.r d to Mt. Pleasant,Pa.
10 CWcago Junclion, 0., to nu.
Connellsville to Uniont'n, Pa.
13 1 nois Junction, Ill.... . . . . . . . 263
Bellaire to Columbus, 0 ...... 1371
-Sandusky to Newark, 0 .... . . 116 Total leased and 09ntrolled .. 902
Newark, O., to Shawnee, 0. ..
44
'.fot. operated Sep. 30, 1880 .1,450
An abstract of the last annual report is given in the OHR()NICLE, VoL
33, p. 586, and the following extract@ are quoted therefrom. The
profit and loss account showed an increase for the year of $1,697,038,
ti.,,,"ll.inst $2,356,984 in 1879- 8 0. It will be soon by thls account that the
· l
1
fund
hi h
.,n ·
too
·•~• d · d from
normna surp us
• w O represen"° mves
oapiwu erive
net earnings, and which is not represented by either stoo-k or bonds,
amounts to $42,258, 680.
The gross and net earnings of the main stem and its branches and of
the other divisions, for the last fl.sca.l year, as compared with 1879-80,
were as follows:
,--Earnings, 1879-80.-, ,--Ea.rniugs, 1880-81.Gross.
N et.
Gross.
Net.
Main Stem, &c .... . .... $11,229,880 $ 5,172,980 $11,122,259 $4,846,615
Wa-shin~on Branoh...
314,405
246,496
353,570
193,533
Parkersourg Branch . .
860,160
371,829
712,158
72,422
Central OWo Division. 1,003,565
311,454
1,006,025
228,267
Lake Erie Div1sion. ...
8 4 7,221
208,853
899,791
112,373
Cbioa,go Division . . . . . 1,5-18,994
566,673
1,638,661
453,069
Pittsb urgDiviHion..... 2,238,481 1,011,827
2, 500,548 1,124 ,473
Wheeling Pittsb. & B ..
50,3 0
8,594
53,557
1,094
Newn.rk S. & S . RR....
224,649
88,259
177,304
41,548
Total.. ............. $18,317,740 $7,986,970 $18,463,877 $7,073,39'8
The aggregate workmg expenses of the Main Stem, with all bra nches
and divisions, were .6 1·69 per ceut of the whole gross revenue, being
5·30 per cent more than the preoe,ding year. Eight hundred and fifty
miles of trook of the Main Stem and b ranches east of the Ohio River a.re
now laid with stool rails. The iuoreased oost of steel thus oontinuousl;vsubstitnted for iron rails hai;, been charged to the r epair aooount as uruformly heretofore.
The report had the following r emarks: "The needlessly low and unremunerative rates under whioh a large amount of traffic has been trans•
ported by the trunk li nes has matenally reduced the n et results of the
past y ear a,s oompared with those of the preceding years. The increase
m the surplus fund for the yea.r ended 30th Sept, 1880, was $2,356.984, while for 1881 it has b een $1,6 97,038, thus showing a oomparative
aecrease of net results, with a larp:ely inc reased. business, of $659,946."
., * * "The effect of the extremely low rates injudiciously forced
upon the roo.d bas been, in consequence of the v ery small amount of
stook, to red.nee its net earnin,11;s from upward of 6 per cent in 1880, on
its surplus fund of September 30th, 1879, $38,204,6 57, a.fter tbe paym ent of o!tsh dividends to its shareholders; to 4 per cent in 1881, on its
irnrplus fund of September 30th, 1880, $40,561,642. The result for th~
fiscal year, under these advet·se oiroumstanoee, shows, in excess of the
cash dividends, a. net gain aud consequent increase of $1,697,038 of
that fund. It is shown by the report of the transportation department
that the tonnage of through merchandise ea8t and west has b een 2,014,110 to1•.s, while in the preoodin~ year it was 1,980,397 tom,, and
1,4 25,629 tons in 1879; 959,568 barrels of fl our, a.s compared with
598,992 ban-els in the prooeding y ear, and 20,329,853 bushels of gra.in
were brought t-0 Baltimore during the fiscal year."
Dividends for 5 years, 1872-77, 10 per cent ; for 1877- 78, 7 ~ per oent;
for 1878-79, 8 per cent; for 1879- 80, 9 per cent; for 1880-81, 10 i;>er
cent. The three dividends from May, 187S, to May, 1879, inclusive,
were paid in stock. Results of opera.tmg all lines owned and c-0ntrolled
for the five years 1876-81 :
·
Yenrs.
Gross Earnings.
Operating Expenses.
Net Earnings.
1876- 77 ........ $13,208,860
$8,226,055=62·28 p. c.
$4,982,885
1877- 78... . . . . . 13,765,279
7 ,769,301=56·44 "
5,995,978
1878- 79....... . 14,193,980
7,691,595=54·18 "
6,502,385
1879-80. ······· 18,317,740
10.330,770=56·39 "
7,986,970
1880-SL ....... 18,-163,877
11,390, 479=61 ·69 "
7 ,073.398
The Baltimore & Ohio direct bonds of 1879 on Parkersburg Branch are
secnred ' by deposit of mortgage on that ro:1d. (V. 30, 1,), 544; V. 31 ,
p. 533. 535; V. 32, p. 230,266,299,312,334,437; V. 33, p. 411,502 ,
575, 586, 641.)
B ciltimo1·e & Potomac.-Deo.31, 1880, owned from Baltimore, Md., to
Bowie, Md., 24 miles; Bowie to Pope's Crook, 49 mi es; branch-Bowie
to Washin~-0n, D. C., 17 miles; total operated, 90 miles. Cl.lartered in
1853; roaa opened to Washington iu 1872 a nd to Pope's Creek in 1878.
Baltimore Tunnel ope ned in surumer ·o f 1873. The road is controlled by
the P e nnsylvania Railroad Co., aud first morl£~e bonds g uaranteed by
Pennsylvania Railroad and Northern Central .Kailroad Coml)anies. Capital stock, $3 ,553,250, funded debt, $6,500.000, and other ti.abilities and
aooounts, $129.620; total, Doo. 31, 1880, $10,182,870. Road and eQ'Uipment, $9,099,295; materials and cash assets, $123,867; profit and losi.,
$959,808. Gross earnings in 1879, $699,772 ; expenses, $526,201;
profits. $173,570; interest, $272,317. Gross in 1880, $790,147; e.x:pe.pses, $632,663; profits, $157,484; interest, $272,342. Defl.cienoy,
or guarantors' loss in 1880, $114,858; in 1879, $98,746. Income bonus
wholly held by Penn. RR. Co. (V. 28, p. 698 · v. 30, p. 493 588 .) .
D'EcEMBER •
1881.]
Subscriber■
RAILROAD STOCKS AND BONDS.
xvii
"'111 conCer a great Cavor by giving hnmedlate notice of" any error discovered In the•e
Table■ •
DESCRIPTION.
~ Miles DatINTEREST OR DIVIDENDS.
Bonds--.Prmew,.,., Size, or
Amount
.
pal,When Due.
or explanation of column headings, &c., see note
of
of
Par Outstanding Ra~ per When Where Payable, and by St~k.s-Laat
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
D1v1dend.
elle1iiUea: South. Ill.-lst M., sink'g fund, guar.....
56
ewid.ere.Du.-lstmort. due 1877, extended, guar.
64
2d mortgage bonds of 18J>4 (guar. by C. & A.).... .
64
3d mortgage bo1¥1s of 1857 (
do
do ).....
64
Consol. mortgageof"l.876 . ....... . ....... .. ... : ....
84
emiinuton & Rutumd-lst mortgage.. .. .. ... ... . . .
59
kshir~tock. ... . ... ......... . .... . ............ ..
22
oston a: Albany-Stock . .... ; ..................... . . 3 24
Plain bonds, coupon or registered . . . ..... .. .. . . . a.
T,oan of 1875, coupon or r egistered . ..............
Qston Barre & Gardnet·.-lst & 2d mortgag~ . . . . . 3812
3dmortgage (convertibleintostock). . ........ . .. . . ...
ost. Olm.a: Fitctib.& N :B.-Stock ($1,750,lOOpref.) 151
1st mortgage, Agricultural Branch...... . ... . ....
29
Mortgage bonds 1860-70.... . ... . . . ... . .... •. . . . . .
43
Bonds.... . .. . ....... . ...... .. .. . ........ . ... . .......
58
~~~m,guenJr~gyt~ense·to·oiiicoion~,~; _-_-:::.::::::::: : · 1.20
oston Oonoo1·d <I: Mont1·eal-Old preferred stock... 166
Com. and new pf. stock (new pf. stook is $540,400)
Sinkiug fund bonds........ ... .. . ......... .. .......
Consolida ted mortgage bonds (for $2,000,000).... 160
Improvem ent mortga ge bonds .. . ... . .... . . . . .. .. .. 166
ost.Hoosac Tmu~ & West.-Stook(for $10,000,000) · 57
1st mortgage, gold ($25 ,000 p er mile) . . . .......... . . . .
oston & Lowell-Stoc.1r. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
82
Bonds . ..... . . . .......... ... ...... . . . ...... . ....... .
Bonds .... .. .. . ... ... . . ...... ... .. . .. .. . . .. .. ... . .•. :
Bonds .......... ... ..... . .. .. .. .. . . . . . . . .. . . . . .. . ... .
Bonds . ... . ...... . .... .. . .. . .... .. . .. .. .. . . ... ... . . . .
Lowell & Lawrence .. ...•• .... .............. . . . .....
Salem &Lowell .. . . ............ ··· · · · ······ · ·-·· · ··
oston cl: Maine-Stock.... . ................... . . ... . 204
Bonds, coupon and ~·e~i~tered. . . . . . . .. . ... . .......
oston & New York, Atr·.Ume-lst mortgage.. . .. .. . .58
1- - - - - - a - - - -· - - -
1866 $1,000 $1,059,000
8
1877
1,000
1,000,000
6
1854
500
· 499,500
6
1857
500
745,000
6
1876
l,000
1,200.000
7
1877
1,000
475,000
7
100
600,000
ll!i
-·..
100 20,000,000
2
1872
1,000
5,000,000
7
1875
1,000
2,000,000
6
100 &c.
554,000
5
1881
100,000
6
.. ..
. . ..
3,059,600 312 on pf.
1864 100 &c.
400,000
6
'69-'70 500 &c.
552,000 •
7
1874
1,000
40-0,000
7
1,000
6;,0,000
1880
1,000
1,615,000
56
100
800,000
3
....
100
1,000,000
.. ..
1858 100 &c.
202,000
6
1 873 200 &c.
1,905,500 6 & 7
1881
500
500,000
6
1881
1872
1875
1 876
1879
500
. ioo
1 87 3·4 500 &c.
1880 1,000
B ellooille & Sou thern Illinois.- Dec. 31, 1880 , owned from Belleville
. , t o Duq uoin, Ill., 56 miles. Ch ar ter ed F eb. 15, 1 857; open ed Dec. 15
873, and leased Oct . 1, 1 866, o St . L. Alton & Terre H a ute R ailroad Co
a.so r en t al 40 per cent of gross earnings u p to $7,000 p er mile; 30
er cent above $7,000 and u p t o $ 14 ,000 p er mile, an d 20 p er cent on
y excess of $14,000 p er mile. R ental for 1 879, $116,490 ; for 1 880,
147,34 -L I nterest on bonds a n d sinking fun cl $5,000 p er year , g uar_·teed by lessees. Common stock, $430,000 ; preferr ed 8 p er cent stock,
'1,275 ,000, non cumul ative. Dividends on pr eferred stock have been:
12 in 1 881; 4 12 m 1 880; $ 1 0 5 in 1879 ; 62c. in 1878; 68c. in 1877; 65c.
n 1876; $1 80 in 1875; $ 1 in 1873 . OperatRJ.1 in con nection '1.rith the
elleville Branch of St. Louis Alton & Terre H aute Railroad, a nd exended from Duquoin to E l Dor ado, 50 miles, by tlie Belleville & E l
rado R ailro11,d Co. Except on coal a n d ore, contribu tes b usiness of
elleville & El D omdo Co. 3 0 p er cen t .
B elvidere Delaware.- Dec. 31, 1 8 0. owned from Tr en ton, N. J., t o
an unka Chunk, N . J ., 67 miles ; Millham Cut-off, 1 mile, Flemin,,.ton
ailr oad, 12 miles ; total op erated, 80 miles. Ch ar ter ed March 2, 1853.
d op ened Nov. 3, 1865. Leased to United Com panies, and tran sferred
P en n sy lvania Raih·oad March 7, 1876, by which operat ed as t heir
elvider e Division. Rental, all sur plus eatnin~s; but the first, second
nd thir d bonds a r e gua r anteed. Capital stock, ~994,050.
Benni1igton d: R u tland. -December 31, 1 880, owned from Rutland
o Bennington, Vt., 57 miles ; brauch , North Ben n in gt on t o New
ork State Line, 2 miles ; totn.l, 59 miles. Cha rtered as Western
ermont in 1 845, and completed in 1854. L eased in 1857 to Troy &
oston f or 10 years at $36,000 p or a nn um. Consolidated in Harlem
nsion in 1870. and l eased to Central Vermont in 1 873 , but len,se
b a n doned by lessees. Since September 10, 1877, the Verm ont division
n.s a bove) op erated by the r e·organized Ben nington & R ut la nd . Stock
1,004,000 (pa r $ 100), and b onds $475,000 ; total, r epr esen t ing cost of
ad ($25,068 p er mile), $ 1,470,000. Inter est liability, $32,250 a year.
B erkshir e.-Sept. 30, 1881, ow n ed from Connecticu t Stat e Linc to
est Stockbridge, l\Iass., 22 miles. Ch art<,r ed in 1837, a,n d r oad op ened
1 842. L eased in p erpetuit y to Housatonic Raih·oad Comp a ny at 7
er cent on capital stock a nd cost of road ($27 ,273 p er m ile), $ 600,000 .
ssors pay taxes, &c., whlch r edu ced the di vidends to l ess tha n 6 per
en t , n,ud the quarterly dividend due in October is u su ally omitted . Used
s the Housatonic's main line in Massachusetts.
Boston & .Albany.-Sept. 30, 188 1, ow n ed from Boston , Mass., to
bany, N . Y ., 20~ miles ; Springfield to Athol, 49 miles ; numer ous
ran ches, 48 miles; leased lines, 74 miles ; t ot al oper ated, 373 m iles.
h e B. & A. w as for m ed (Dec .. 1867 ) by the con dolid ation of t h e Bost.
Worcest er and the West er n railroa ds. Th e r eport f or the year 1880-8 1
a ys in r ega rd t o the traffic earnin gs : ·• It will be noticed tb a t t h e
eceipts fo r freigh t have fallen off about $ 200,000, while tho tonnage
as increased ~83,000. The loss in r eceipts is p artly owing to the fierce
•ompetit ion oetween t h e t runk lin es for business between the seaboa rd
nd the West, which h as r educed t h e r ate on through t1:affic to a point
ever before dreamed of; but m ore to a gener al r eduction of a bout one·
·xtb in t he local t ariff, which went into effect J anuary l." R esults of
perations for n v e year s were as follow s:
Passenger Freight (ton)
Gross
Net
Div.
ears. Miles.
Mileage.
Mileage.
R eceipts. Receipts.* p. ct
876-7 .. 322 103,27 8,1 26 313,8 22,671 $ 6,780,597 $2,167,831 8
877- 8 . . 322 101,221,955 329,708,57 3 6,633,534 2,219,536 -8
878-9 . . 324 101,248,321 325 ,484,799 6,427,4 63 2,703,638
8
879- 80. 373 113,154,374 375,452,804 7,741,118 2,492,618 8
880-1.. 373 135,421,102 4l'i ,108,612 7,87 5,285 2,186,873 8
* Net rec.e ipts include income from r <ilnts, &c.
V. 31, p , 44,152, 41Z; V. 33, p. 224 ,467,561, 714.)
Boston Bar-re & Gar dner .-Sept. 30, 1881, owned from Worcester to
Ninchendon, Mass., 37 miles. Cha rtered in 1847, and road complet ed
1874. Leased }iona dnock RR. for 99 yea r s from October 1, 1874,
d lease transferred t o Cheshire RR. in June, 1880. Interest has
een r educed to 5 per cent. Interest liability at 5 p er cent, $27,715.
ross r eceipts in 1879·80, $18:3,866 ; n et, $40,454. ( V. 32, p. 444 ; V.
3, p. 200.)
I
Bo$ton Clinton Fitchbw·g <f: New Bedf01·d._:Sept. 30, 1881, owned ;t:rom
itchburg, Mass., to New Bedford, Mass., 91 miles ; branches, 34 miles ;
ased, Framingham & Lowell RR., 26 miles ; total oper a ted, 151 miles.
nsolidation (June 1, 1876) of t he B.C. & F. and t h e N.B. r ailroads, both
f which h ad been consolida tions of other original lines. The Framin~am & Lowell is leased for 998 years and. 4 months from October, 187~.
he whole property was leased (Feb. 1, 1879) to the Old Colony Railroad
o. for 999 years, the lessees agreeing to pay as rental 1023 per cent of
he gross earnings of the consolidaterl roads. The rental and other
come for the yea r ending Sept. 30, 1831, was $401,498, whicp. left,
paying all charges, a surplus of $110,597 applicable .to dividends.
e preferred stock takes 7 per cent per annum tlrst, and after 7 on the
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
· ·ci>....
1,000
3,940,000
999,500
500,000
7 50,000
620,000
200,000
226,900
7,000,000
3,gg&:8°o8
I
.
1
6 g.
2
7
7
6
5
6
6
4
7
5
A. & O. N. Y., 39 Wall street.
J. & D. Philadelphi:i,, Pa. RR.
M. & 8.
Phila"delphia.
F. & A. Philadelphia, Pa. RR.
J. & J. Treasurer, Trenton,N.J.
M. & N. :N.Y., Union Trust Co.
Q.-J. Stockbridge, Trea surer.
Q. -J.
Boston, Otlioe.
F. & A.
do
J. & J.
do
A.. & O. Worcester, City Nat. Bk.
J. & J.
do
do
....
Boston, Office.
J. & J. Boston, Boston N. Bauk
J . & J.
do
do
J. & D.
do
do
Various
do
do Co.
J. & J. Boston, N. E. Trust
M. & N.
Boston, Office.
. .•.
J. & J.
Bostoii;
A. & O.
do
do
J. & J.
do
dtt
omce.
J .. &.J.
A.. & o.
M.& S .
J. & J.
J. & J.
A. & 0 .
A. & O.
M.&N.
J. & J.
F. &A.
York
New
and.London.
Boston, at Office.
do
do
do
do
do
do
do
do
do
do
do
do
· Boston, at Office.
do
do
N. Y., Hatch & Foote.
Oct. 1, 1896
1902
1885
1887
Jan. 1, 1916
Nov. 1, 1907
Jan. 1. 1882
Dec. 31, 1881
Feb. 1, 1892
July 1, 1895
April 1, 1893
1895
Oct. 15, 1881
July 1, 1884:
1889 & '90
July 1, 1894
'81,'82,'83.'8a
J an . 1. 1910
Nov. 15, 1881
·issi•·
1893
1911
.faii" .
.Jan. 2, 1882·
April 1, 1892
March 1, 1895
July 1, 1896
July 1 , 1899
Oct. 1, 1897
Oct. 1, 1898
Nev. 15,1881
Jan., 1593&94.
common, it is not cer tain as to the division of a ny surplus. (V. 30, p •
221.)
B oston Concord_ <I: .Monlreal.- Mar ch 30, 1881, owned from Concord,
N. H., tc Wells .R iver , N. H. , 94- miles ; b ran ches-Wells River, N . H., to
Groveton Jun ction, 51 miles; Wing Roa n to M t. Washington , 22 miles;
t otal oper ated, .167 miles. Char ter ed in 1844 a nd road open ed in 1853 .
Purch as ed White Mountain R ailroad (53 miles) in 187 2, a nd built the
Mt. Washington Bra n ch (20 miles) in 1 874 . An exten sion of the White
Mountain R a ilroad from Littlet1m to Grov eton Junction ls mortgaged .
Fiscal year ends Mar ch 31.
Availa1Jl6
E x p en ses,
Gross
Year s.
~files.
R evenue.
T axes, &c.
E arnings.
1875-76 ..... . ..... .
160
$ 511,343
$182,012
$693,355
1876- 77 . .. . ....... .
167
1 8 1,931
4 57,377
649 ,308
1877-78 . ... . . . . . .. .
167
453,172
201,100
65.4,272
201,618
1878-79 . . . . .. . . . .. .
388,932
167
590,550
1879-80 . ... ..... . . .
167
200,871
477,251
678 ,123
2 11,383
1880-8 1 . . . . .. . .. .. .
167
586,172
797,556
The old preferred stock ($800,000) h as received 3 p er cent semi-a nnua lly,
a mount ing to $48,000 a y ear. Neither the n ew preferred nor the common stock bas p a id dividends. (V. 28, p . 577; V. 30, p. 599 .; V 32, p.
334 , 444,635; v. 33, p . 88 4.)
-
Boston Hoosac Tunnel <I: Weslern.-Sept. 30, 1881, owned from Massachusetts State Line to Schen ect a dy, N. Y. , 57 miles . P roj ected line,
Hoosac Tunnel, Mass., to Bu1l'alo, N. Y. , of which 400 miles a r e located,
a n d 200 unde r con struction. W. L. Burt , P r esident , Boston. Mass. (V.
31, p. 370; V. 3 2, p. 69,500,611,635 ; V. 33, p. 384, 467, 716.)
B oston & L owell.- Sept. 30. 1880 , owned from Bos ton to Lowell (douule
and steel), 27 miles ; br anch es-Salem & L owell, 17 miles ; Lowell &
Lawrence, 12 m iles ; other s, 10 miles ; l eased , Middlesex Ceu tra.l a nd
branch, 12 miles ; t otal oper ated, 87 miles. Ch a rter ed in 1830, a nd line
between Boston & Lowell open ed in 1 835 . The Lowell & L awren ce and
Salem & Lowell R aih·oads, operated for some year s under lease, w era
purch ased and consolida ted in 1879 , t,h e B . & L. assum ing tneir bonds,
w hich cannot be p aid off before m aturity . A .i oint business was formerly
done b et ween t b e Boston & Lowell and t h e Nashua 6., Lowell, but from
December . 1878, t hey w ere u nder separ ate managem ents unt il t h e B. &
Lowell lea sed the N. & L. for 99 y ears fr om Oct . 1, 1880, but t h e lease
was lleld invalid. The B. & L. h as m ad e a con tract with t h e Mass. Cen t ral t o oper ate t he l a t ter roa d when complet ed. $650,000 n ew st ock
issued in J an uary, 1 881, the holder of five sh a r es of old bein g entitled
t o tak e on e share of new st ock a t par.
- - - -- P a ymen t:~ - - - Gross
Net
R eceipts.
Receipts.
R entals. Int. & misc. Div:,p. c
Years.
$ 93,309
$145 ,890
1876- 77 .. .. $1.137,768
$348,007
94,718
116,349
1877-78 . . . . 1,081,066
310.528
392,580
67,59 8
161,890
1878-79 . . . . 1.198.962
4,202
259,318
1879-80 . . . . 1,399,316
4 22,6 98
Dividends w er e 8 per cent up to close of 1873; 612 p er cent in 1873-74.
-(V. 31, p. 482,509,557; V. 32, p . 39, 4.3; V. 33, p. 225,254, 357.)
Boston & .Maina-Sept. 30, 1881, owned from Boston, Mass., to Portland1
Me., 115 miles ; branches, 11 miles; lea sed- Walrnfleld to Danvers, lu
1niles ; Lowell t o Ballardville , 10 miles: Bradford to Newburyport and
Dan ver s, 27 miles; West Amesbury to Newton, Mass., 4 miles; Dover,
N. H., to Alton B ay, N. H., 29 miles; total operated, 206 miles, less 3
miles leased. Main line one-third double traek and all steel rail. Chart er ed in 183~, and road completed to South Berwick in 1845 and to
Portland in -1873.
Gross
Expenses
N et
Outside Av' il'ble Div.
Years.
E11,rningt"1.
& Taxes. Earnings. R eceiptl!. Revenue. p.c.
1876-77 . .. . $ 2,173,202 $1,518,854 $654,348 $93,817 $748,165 5
1877- 78 . ... 2 100,741 1,359,367 741,317
83,717 825,091 6
187 8-79.. . . 2,149,857 1,354,755 795,102
88,964 884,066 6
1879-80... . 2.438,270 1,511,018 927,252
94,382 1,021,634 719
1880-81.... 2.601,215 1,749,856 851,359
86,300 937,659 8
-(V; 29, p. 53i; V. 30, p. 15; V. 31, p. 556; V. 32,p.15; V. 33,p. 641 ,)
Boston a: New York A i.r-Line.-April 30, 1881-, owned from New Haven,
Conn., to Willimantic, Conn., 50 miles; leased Turnerville to Colchester.
4 miles ; tota l operated, 54 miles. Formerly the New Haven Middlotowu & Willima,ntic. In 1879 a pooling agreement (for 99 years and 8
months from Feb. 1, 1879) was made with tne N. Y. New Haven & Hartford R R. , under which the B. & N. Y. A.-L. received 6 p er cent of the
gross earnings of all lines operated, out of which its operating expenses
are paid. By arbitration in 1880 the percentage was reduced to 5 per
cen t for five years. Common stock, $818,000; pref. stoc~, $2,767,500:
pa1· $100. There are also $2~2,500 N. H. l\I. & W. RR. bonds, oanvertible into stock. Net earnings, $156,872. One per cent dividend
paid on pref. Dec. 1, 1831. (V. 31, p. 152, 357, 381, 588; v. 32, p. 63a;
v. 33, p. 411, 559.)
RAILROAD - STOOKS AND -BONDS,
xviii
[VoL.
xxxm.
Sn~crlben wtll eonf'er a great f'avo~ by giving lnunedlate notice oC any error discovered In theae Table9.
DESCRIPTION.
Amount
Si~or
FQl" explanation of oolumn beadings, &o., see note.a
Road. Bonds Value. Out-standing
on first page of tables.
~ D;:{6
.l>oi,tmi if
Providenoo-Stoek . . ................... ... .
-----------------,---M . & N.
4
$100 $ t,000,000
. •. .
64
· · Bonds to purollase branches, coupon or registered
Brookl1J11. Elevatea-lst mort., gold ................. ·
Reooiverd' oertitlc'e, paya.:)le in cash or 1st M. bds.Income bonds . ............ ... ... . . .............. .. .
Brooklyn re Mcmtaulc-Stock ($1,100.000 is pref.) ..
South Side, lat mortgage . ......... ·•...•. ..........
54
New mort. (for $1 ,000,000) ........ ....... ... .... .
69
· Mortgage on Rockaway Branob ... .. . ............ .
Buff.Brad.& .Pitts.-Geu. M.,(incl. 10,000 ac. l'd) . .. .
26
·Buffalo New Y01·lc & Erie-Btook ....... ...... ...... . 142
1873
1879
1881
1881
1:000
iS67
5W &o.
1-40
1876
1871
1878
0
·B!);:t~ XW.ri~~~iiiaaeiphici-=-.iai
m<)rt.: ·s-oi<i::::::
2d mortgage .. ..... . .... . ... . ..................... .
Bwffalo µittslnirg & Western,-Common stook .. ... .
Preferred stock ( o per ,-ent. Not cumulative) . .. .
· :Mortgage bonds (for $7,500,000), coup ..... .. ... .
1st mortga ge (W. & F. RR.> . . .... . ............ ... .
1st mortµ;a,ge (Oil Creek RR.) ........ . . ... ....... .
1st mortgage (Un. & Titusville RR.) .............. .
2d mortgage (Pi tts. T. & B.) ......... .. ... ... ... .
Bitffalo te .:southwestern.-Stook (one-half of it pref.)
1st mortgage bonds, gold .. .. . ........... . ........ .
Bi,rl1,ngt011, 0. Rapids & N orthern-Stook ..... .. .... .
1st mortgage . ............ . . ................... . ... .
Iowa City & W estern, 1st moi-t-gage, gold, guar ..
Ccda.r Rap. I. Falls & N. W., 1st mort., gold, guar.
Oai1-o d! St. .Lmds-lat M., inoome (not oumnlative,
California P;;ciflc- l~t mort~a,ge, gold ... _. ...... ... .
• 2d mortga,,.,e, endorsed by v'tmtral Pac1tlo ....... .
. 3d mort., g uar. by C. P. ($1,000,000 a.re 3 p. o.} .
California Southe1·n- lst mort. ($25 000 p er mile) .
· Qamcten d: Allant-l c-Stook ($880,650 of it pref.) ... .
1st mortgage (exumded 20 years in 1873) ..... .. .
2d mortgage, extended in 1879 ................... .
j~ o o r i n i
INTEREST OR DIVIDENDS.
ate per When Where Payable, and byj .stocks-La.at
I Dividend.
Whom.
Cent. Payabl
121
121
294
29-1
274
50
38
25
120
67
67
369
73
55
144
114
114
114
is·i
1 865
1862
1870
1876
1877
1876
1879
1880
1 88 ::.
1 867
1871
1875
-~i I· i~i~
... .
·ioo
1881
1854
1,000
100
1,000
500 &o.
500 &c.
60
60
1,000
1,000
1,000
500 &o.
100 &c.
1:000
100
100 &o.
l,QuO
l,COO
1 ,000
1.,000
1,000
500
50
1,000
1,000
Boslon d! PrcnJidence.-Sept. 30, · 1881, owned from Boston, M~l.88. , to
Providence, R. I., 44 miles i branoh ef!_, 20 milea t leaaed, Attleboroul!h to
North Attleborough. 4 1mlea; tota.i operate<l, 08 miles. Chartered
in 1831, and road opened in 1835. The company have valuable d epot
_
·:properties in Boston.
Divi
O ther
N et Trame
Gross
d ends.
Rooeipta.
Earn.i.n.,crs.
Earnings.
Years.
6
$20,7!)7
$378,032
1 876-77 ........ . . $1,352,564
6
21,377
348,009
1877-78. .. . . . . . .. 1,185,040
O½
19,595
375,!"147
1878-79. ....... .. 1,158,643
8
19,395
355,748
1879-80.. .. . . . . . . 1,304,520
8
19,167
347,523
1880-81... . .. . . . . 1,400,145
Lease rental paid in the years consecutively waa $11,308. $10,956 '
$10,917, $11,5U0 and $ 11,60 5 . Notes ouU!tanding Septerul>c.r, 1881,
$360,000. (V. 27, p. 5G5; V. 31, p. 534; V. 33, p. 561.)
.B·rookl-tJ n. Ele1Jated.-In progress. Reeeivers were appointed Ootober,
1880, and a compromise efi'ooted Februar,Y, 1881, by whiuh reorganization was m ade a nd stook and bond scri p were tu38essed. There were
.outstanding nt t bat time $1,069,000 lat mort. bonds and $217,700 boud
scrip; $1,85 ! ,880 e.n~raved sto,·k and $1,4971 683 scrip stock. All w ere
.assessed 20 11er cent and Receiver's certificat-es and inoume bonds issued
for the assessments in certain proportions. Capital stook of 11ew company is $4,0t iO,OOO a u tllo1ized, but only $2,655,oUOissued. · The Reeeivcr's certificates can be excn:lllged by the new cowp11-ny for 1st mortgage
bon ds. S ee full statement in CHRONICLE, V. 32, p. 551. (V. 31, p . 44,
·42~. 452, 557; v. 32, p. 205, 23 , 265, 396, 468, 551; v. 3J, p. 4.41.)
Brooklyn cf Afan ta1tlc-(Southern 01 L. I . }-Bushwiok to Patchogue, L.I:t
52 miles; . brauohes to Fresh Pond Junction, 2 miles ; to Rockaway, lu
miles; total, 6'1 miles. Extenl!iun to .Moriohes, 15 miles. ready Jilly,
1881. This was first the South Side Railroad of Long Island, . whiol,\
Wl\s foreol<>fled 8-0pt. 16, 1874, and reorganized as tlle Southern of Loug
Island. On June 3, 1879, the property was 11/{uiu sold in fort'IClosure of
the seoond mortga~e, and this company org anized. The preferi:e<t st-ook
has o prcforenc«> ot 7 per oent, not cumulative. It is leased to the Long
Island Railroad for 50 y e;us at 25 per cent of tbe net earnings of tlle
whole Long I sland RR. system , inolll(Hng its leased lines. 'l'he ucw
mortgage for $1,000,000 is 11' take up the first and balance issued for
extension to Morichesi it is guaranteed by .L. I. RR. as t o inter~ t, on
$750,000 and both prmcipal an-d interest on the $250,000. (Y. 30, p.
322,600, 674;V.32,p.52o~
500,000
1,150,723
1,456,000
344,584
2,000,000
750,000
250,000
60,000
,580,000
950,000
2,380,000
3,000,000
1,000,000
8 ,650,000
1,600,000
( '!)
.J. & J.
7
6 g. M. & S.
BostoP, at Office.
do
d~
New York.
··,;·
··,;·
31g
7
0 g.
7 g.
York·Eri·e
Office.
J ..&.J. New
J. & D . N. Y., Erle Ra1lway.
do
do
J. & D.
J . & .T. N. Y., Fa.rm. L. & T. Co.
Q.- M. Buffalo, F.& M . Nat. Bk.
··o·g. A.:&·o.
7
1,500,000
7
580,000
7
500,000
l,15!j,000
7
g4.-3,SOO
1,500,0GO
5,500,000
6
(J,500 ,000
581,000
7 g.
6 g.
8 25,000
2,6 0,000
5 g.
2,250,000
7 g.
1,600,000
6 g.
3,000,000
3 & 6
6
2,088,000
l,2."')8,050 31g on pf.
490,000
7 g.
407,000
0
.J , &
A.. &
r. &
F. &
A.
O.
J.
A..
NcwYoi·~·Ag-enoy.
Pbila., E.W.vlnrke & Oo.
Phlla., Manu.f'rs' N. Bk.
Phila., E. W.Clo.rke & Oo.
Phlla., Manuf'rs' N. Bk.
J .. &D. N. Y .. 6eiiii-ai·Trnst Co.
do
do
l'tf. & 8.
A.. & O.
A.. & O.
J. & J.
J. & J.
.r. & J.
.•••
• . •.
J. & J.
A. & O.
Juii · i~· ·i90
Ju.:lle..Ci9o
St,p~. 1, 190
do
do
Oet. 1. 192
New York or London.
Hl21
N. Y.1_Fisk & Hatoh.
Ja.n. 1, 188
N. Y., .Nat 'l Park .Ba.n.k:. Jan. l, 189
N. Y.,Oent. Paoiflc RR. July, l901>
Boston.
1921
Camden, Co.'s Offioe.
No-v., 1880
Phila.. Farm. & M. B 'k. Ja.n., 1893
do
do
Oot.. 1, 190
$10,150-!000. 01' the oommon stock there isissnedonly 127.500 share
$6,375,uOO L?f the preferred sto ck there is iaaued only 13,93 ; aha.re
$696,000. Tne pref. is entitlad to 6 per oent, when eru-n~d. but is n
onmulative. (See V. 82, p . 16, 18i.) The lat mort~a,.,"'8 bonds of th
several r oads above due respectively April, 18821 July, 1890, and Feb
1896. were offered an exohan.~ for the n ew bonds d ,e 1921, Ute opt io
expirin~ Aug . 81. 1881. Tne net earnin.:,"'8 in 1880 were $ 268,5
n~ai.nst $190,330 in 1879. (V. 30. p. 17, 67,193.519, 625; V. ::n, p.
90, 171, 330, 560 ; v. 32, p . 16, 991101, 182, 367; v. 33, p. 4 6,467, 5~
641.)
Buffalo d! Southweatern..-Sept. 30, 1881, owned from Buffalo to Jame
town, N. Y., 67 miles. Formerly tho Bu1faJ.o & J amesto wn; reorg~n.ize
in 1877 after foreolosuro . In July, 1880, leased to New York Lak
Erie & Western for 99 yes.1-s-n.t 3 5 per cent of gross {'arn.in...,,rg, b
inter est on bond~ guara,ntood. Gross earnings in 1879-80, $349,4,L l. (
3 1, p. 122; v. 33, p. 687.)
.Btu-lingto,i Oedar P.,ap-lds d! N o-rth.ern .- Uoc. 81, 188 0, owned fro
B ur].inJcton, Iowa , to Albert Lea, Minn. ( nolu ing 11 miles leased), 25
miles ; oranohee- Linn, Ia., t-0 Postville, , a~, 91 miles; Muscatino, ta
Riverside, Ia., 3 l miles ; Vinton, I a. , to lio1!and, Ia., 48 miles; E
l a., t-0 Montezuma, 8:1 miles; lt>a~d. Holl.an.1 t o Clarion, 55 miles: to
operated, 56:~ mlle6. Organized a s the .Burlington Cedar Rapids & Minn
June 30, 1868, and main line opened to Plymontb 219 miles, and branch
14 9 miles, to end of Sept., 1873. De.fault Nov. 1, 1873. Property sol
llllder foreclosure J une 22, 1876, and given u p to the purobaaers .ru.1.y
1870. Bonds of th6 Cedar Rapids Iowll. Falls & Northweat .-rn road
endorsed (on the bonds); they are redeemable at 105 after Oot. 1, 189
Gross earniuga yoar ending Deeember 31, 18 O $2 0 63.48 1, a-ga.in
$1,534,9 50 in 1879; net $ , 09,757, again.st $ 550 .14.2. Interest pai
$367,420. The compu.ny guarantees the above bonds mentioned Too
al.so !{1.UU-ant~e $150,000 of Minneapolis & St. Louis bonds. The an.nu'
repo1·t f(lr 1880 said that tlle surplus earuiuga of t he r oad, ha exce6S
opei-o.ting expenses and pay ment of fixed charges, bad been dovoted
tht• improvem ent and cquip meut of tho 0om11any•s railway. Tho fol
lowi11g 18 ~ comparative titotemP-nt of oantlnga and operating oxpruis
for the years ending December 31, 1879 and 1880.
Av. MUeag0
Gross
@perated.
Earnings.
Expenses.
1880 .... ..... •. 4 g6•63
$2,0fl3 ,48 1
$1,343,72!
187~ .... .. ..... 4_4;j•22
1,53!,U50
9 ~4,!J08
$51 8,530
Inorease . .... 51 ·41
$3 .j 8 ,915
Buffalo B-rad[ord d!Pillsbw·g.-Bopt. 30, 1 880. owned from Carrollton, (V. 29, p . 2')..A., 250,432, 562; V. 30, p. 17, 221; V. 31,
N. Y. to GilP.,sville~-ra., 26 miles. Completed in 1866, and leased to New
York Lake. E r ie & western !or 499 ye.ars. Rental. 7 per cent ou ontst:1ndin,i· bondst $40,600 a ycu.r. Capital stoek, $~,286,000 .. I n March,
l88 0, a ilividena of 1 pe1· cent was paid.
,
Buffalo Neto Ywk & Eric.-Oc tober 1, 1880, owned from Buffalo, N.Y.
to (.)on.Ling, N. Y. , 140 miles. A thi.l·d rail i:or standard gauge rolling
.Btockllas been laid down. Leaaed in 1863- to the N ow York <.It Erie tor
~90 rears, and now opera~ by the N ew Yorlr La.ke Erie & Weateru
Co. Rent al, $238,100-viz. 7 per cent on stock Wld bonds a nd $5 ,000
.for organization expense. Dividends and interest paid directly by the
108800!3. Capital stock, $950,000, and funded debt, $2,380,000. Totu.l,
representing cost of road, $3,330,000.
Buffalo New York cf Philadelphia.-&pt. 30 1 '81, owned from Buffalo'
N. Y., to Emporium, Pa., l 21 miles. Consolidation (1871) of tile .Buftnlo
& Al!.~henv Valley. and the Buftalo & Washington aud road oompleted in l:;-1~. At .l!.mporium C-01meets with Phih.a.d.Plphla. & Erie. I n April,
l 8801 the stock was sold to a syndicatti. . Boo V. 3:..l, p. 444. Gross earnings m 1880-81 $1 , :42.214 ; n et earninwi, $507,718. Capital stock,
33,p. t.i41,
32, p. 444;
3o, p. 1t.1;
28, p. 252;
:s2,343,1 00._
686. )
cv.
v.
v.
v.
V. 3i, p. 69, 154, 367, 4 18 .)
aairo d st. Louis.-Doo. 31, 1880, owned from Cairo, ru., to East s
L ou18, Ill. (3 ft. o-auge) , 14 7 miles. Opened through Ma r ch 1. 187~
Default made Apri1 l h 1874. · Sold in foreclosure July, l8 81 , anrl bough
iu, in behalf of bOnd older s, for $4,00U,OOO. N ew stock, $6,5<:0,00
u.ud new bonds a.a abo ve. (V. 32, p. ~96, 551, 611,685; V. 33, p. V9.)
Oaltfarnia Pacijl.c.--Deo. 31. 1880, owned from South Vallejo, Oat ,
t;auramento, Cal. , 61 mile · brruiohes-Napa. Junction to Calistoga, 3
miles; Dav-.isville to Kni;,cllt's Landing, 19 miles ; total. operated, 11
u:illea. Oou.solldation (Deoomber 23, 1869) of Oalifornia. Pocl:fio an
Gnlifornia Paoifl.o Exteus10n companies. Lensed for twenty -nin
years, from July 1 , 1876, to Central Paoifio. Rental, $ 550,000
a
auuwn aud throo fourtlla of n e t earnings when in exces.'I or
w:nouni. ~ neral aooount (December ;:$1., 1880) - Capital sto
$12,0~~0~; funded debt, $6~8~,000; bills pa;rable,_$1,2n,643; an
38,41 9; tota.l liablllties,1._$ 2J.t462,06
other liauilitea, aocount.s, &c.,
and incomes of $1,0w,Ouu were ·
Extension bonds of $3,500,0
guaranteed by Centro! Pu.o.ifi
1875,
of
bonds
new
the
and
default,
were issued in place thereof.
Oal ifornia Sou thern.-This road from Sa.n Diego, Oo..l., eastward is bull
by Boston pa.rtioa aa a connootlug line of the Atla.ntio & Paoifio trans
! BuffaJ:o Pittsburg c! West.--J an., 1881, owned from Salamanca, N. Y., continental
route. For $1,100 in oasb ea.oh subacriber receives $1,00
to OU City, Pa., 100 m.; branch t-0 Bradford. Po.., 20 m.; Oil City. Pa... to
Buffalo, N. Y., 14 0 m.; Union & Ti tusville Br-anoh, 25 m; and 'I'itusville
& O_ll City Railway, 9 miles; total length, 2 94 miles. This was a OOil8olJ1lation, Jan. 20. t881, of the PittsburgTit usville & Buffalo Railway and
-other roa<ls. The statement to the N ew York Stock Ex:ohange, as or
..Te.nna~·y 20, 1881 gave the capital stooka or the companies prior to
consolldation as follows: Pitt-sburg ~'itusville & Buflalo--oommon sto<-k,
127,500 shares, at $ 50. $6,375,000; prefel'red stock, 15,00 U i;hares, at
$50, $750,000; Buffalo Pittsburg & Westcrn-c.apital stock, l:l,50o
sbaros,. u.t $100, $1,25u,ooo; SaJamu.noa Bl'a.dford & A.lleghtnY River of
Pennsytnwfa,-capital st-00k, 17,oo,, shares. at $50, $850,000; ~alamanca
Brod.ford & Alltigheny: River of New York-oopi tal stock, 8,500 shares,
at $11 10, $850,000; T1tUBvilie & Oi Oity-oapitru. ato-Ok, 1,500 shares, at
$5v, $75,uOO-total, $10,150,000. 'l'he authorized oa.-p!ta l stook Ls ru,
:f ollows, viz.: oomIDon stoo.k, 173,000 shures, or $50, ij;8,650 000; pre
!en·eu stock. ao,ovo shares, of $ 50, $1,~00,000-total, 203,000 ahAres,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
in b Jnd.s, $1,0uO in stook a.ud $100 in the San Diego Land & Town Co
stock. (.See v. 32, p . 231.)
OamdM d: .{tlantic..-D eo. 31 1880, owned from Camden, N .J., to Atla
tio City, N. J ., 60 miles; leased branch, Egg Harbor City to May's La.
ing, 7 JU.; totru, 67 miles. Earn!ngs and e.xpen.scs f or three years p
have boon:
Years.
- Earnings..
Expenses.
Profit.
$121,21
$277,848
18 78 ...... .. ............. .. . . $399,001
2-02,1 .
293,o45
1879 .. .... ............ . . .. . . . 4ll5,472
127,21
371,626
1880 . . • . . . • . . . . . . . . . . . • . . . . . . 498,838
Th~ pref&red stock 1B entitled to 7 per cent i f ~ and to as high
rate ea paid to common stook if more than 7. A dividend. of 3½1
oent 1.u p r ef. atoo.1r aorlp waa·~pald 1n Nov., 1880 on oomm.on and pre
!.erred stook, (V, 301 p . li 18 l Y, 82, p. 395.)
Snbffrlbets will conCer a great Cavo:r by· giving Immediate notice oC any error dlscoTe-red In these TabJcs.
DESCRIPTION.
INTEREST OR DIVIDENDS.
IBonds-Princi•
- - - - - - - - - - - - - - - - - - - - - 1 Miles Date Size, or Amonnt - - - - - , . - - - - - - - - - - - - - - pal,When Due.
For explanation of oolunm headings, &o., see notes of
of
Par
Outstandin" Rate per When Where Payable, and by Stocks-Last
on first page of tables.
Road: _B_o_n_d~ _v_ru_u_e_. ______., ,_ __ee_n_t_._ Paya.bl~
Whom. ·
Dividend_.
1
Oamden ct Burlington Oo.-lst mortgage .. .... .... .
Canada &mthern-Stock ........ ......•..•..........
New mort., interest guar., (for$14,000,000) .. ... .
Oape Fear'i'l Yadk"in Vall(1J-1St mort . ... .. ...... . .
Carolina Ventral-1st mortgage, gold, coup. or reg.
· ·2d mort., gold, income, reg., not cwnulative .... . .
3d mort., gold, income, reg., not cwnulative ..... .
Catawissa-Common stock ......................... .
New preferred stock .............................. .
Old preferred stock ........ . . . ............. . ..... . .
1st mortgage bonds .............................•..
Chattel mortgage bonds .••.. ....... ...... .. .. .....
New mortgage. _._ ......... ... ..... ....• ........ . ....
O.ayuga d: Susquehanna-StocK . ...... ... ..... ...... .
<Jeda1· Falls d: Minn.-Bonds on 1st div., sink. fund.
'Bonds on 2d division, sinking fund .. ............. .
Oedar Rapids d: Missouri River-Common stook ... .
31
100
291
47
242
242
Z42
93
"93
64
·os
35
14
61
274
Preferred stock, 7 per cent ........................ ·
1st mortgage .... . ....... .......... . .... ... ........ . '70
1st mortgage .................. .... ....... .... .. ... .
58
1st mortgage .... . .... . ....... ... ............. ..... . 146
<Jt'lit1•at Branch Union Pacific-1st mort., gold .. . . 100
Funded interest bonds (coupons held in trust) . . . ---·
2d mortga,ge (Government suooidy) .......... . .. . . 100
Central R. R. d: Banlc, Ga.-Stock ................. . 708
General mort. "tripartite" bds ($5,000,000) coup . 620
Certiflc~tes of debt tfor dividend) ................ . .. ...
Central Iowa-1st mortgage .... ...... ... ... .... . .. . . 189
Income bonds," dobt oertiticates," payable at will .......
1st mort~ap:e on Chicago Burlington & Paciflo . . . .. .....
Central of New Jersey-Stock .. ................. ... . 359
Mortgage bonds ....... ... . .. . . .................... .
74
Bonds (eonvertible No v. , 1875 to 1877) .......... . ····
Consolitlated mortgage (for $25,000,000) ..... . .. .
97
Income llonds , rel{., (not cumulative) ........ . . ... . ....
1867 $500&c.
100
is1a 1,000
·1 881
fiO&c.
1880
1,000
1'880
1,000
1890
1,000
....
50
.....
50
50
1863
500
'60-8-9 500 &o.
1870 500 &c.
100
i864 500 &c.
1866 500 &c.
....
100
100
is6i 500 &c.
1863 500 &c.
1866 500 &c.
1866
1,000
1879
1,000
'66-7-8 1,000
100
i872 1,000
1881
100
1879 500 &c.
-1880 500 &c.
1881
1,000
....
100
1869
1,000
1,000
11872
1 ,000
1874
1878 100 &c.
-·--
Camden & Burlington, Oo1tnty.-Dec. 31, 1 880, owned fi'om Camden ,
N. J., to Pemberton, N. J., 23 miles; branch, Burlington,N. J., to Mount
tiolly, 7 miles; total, 30 miles. Leased to Camden & Amboy Railroad
Co., and now oper ated by the ·Peunsylvania. Railro.a d Oompany, lessees
of United Railrood & Canal Company's lines. Lea.so rental, $44,415,
beln~ 6 per cent on stock aud bonds, and $ 500 for -o!zanization expenses.
Capital stock $381,925 and funded debt $350,uuu; total, being oost
o! property, $731.925. Dividends in January and July.
Canada Soutluwn.-December 31, 1880, owned from Vict-01-ia, Ont., to
Amherstburg, Ont., 229 miles; brancb, St. Thomas, Ont., to Courtright, Ont., 63 miles; total (original line, all s teel), 292 miles;
and miles absorbed on reorgamzation-Erie & Nia.cram,, 31; Sarnia
Chatham & Erie, 7; Cauada Southern Bridfi
O'e & Ferry, 4; 'l'oledo Canada
Boutbe.rn & D etroit, 55, and Michigan Mic and & Canada, 15 ; total of
all lines, original and acquired, 4 04 miles. Default was made, and a
reorgn,nj7,ation forming the existing companies was completed in 1878.
Intei·cst on the new bonds issued by tho company is guaranteed by the
New York Centl:al Raih·oad Company for 20 y e ars; tbe principal is not
guaranteed. During the year 1879 great improvements were made on
the lin~ a n e w ferry-boat purchased, and 31 engines and 1,100 freight
oars added to the equipment. The income account for four years,
December being partly estimated in 1881, was as f ollows:
1878.
1879.
1880.
1881.
Gross earnings ...... $2,480,873 $2,995,366 ' $3,705,67:J $3,372,305
Expenses............ 2,070,258
2,448,091
2,-t.01:3,341
2,675,853
Net earnings . . . . . . .
Interest. . .. . . . . . . . . .
$410,615
353,428
$ 547,275
391,452
$1,29fl ,337
407,799
$696,452
678,624
Surplus . . . . . . . . .
$57,187
$155,823
$891, 538
17,828
~35,332 charged to expenses in 1879 for renewals.
Thu bonds
oa.rr1e<l interest at 3 per cent till 1881 and 5 pe.r cent for the other 27
years, which aoooun ts for the. increase in interest for the first six mouths
of 1881. cv. 30, p. 116, I u, 600; v. 31, p. 258,672; v ._32, p. 634,
679; v. 33, p. 715.)
Oape &ar & Yadkin Valley-Dec. 31, 1 880, owned from Fayetteville
to Gulf, N. C .. 47 mi.las. Extension from Gulf to Greensboro to be completed in 1 381. Tilis waR a re01·g:1nization ot' the Western RR. of N. C.
in AprH, 1879. Stook, $717.000. In December, 1881, the New York &
Southern Railway Co. of New York purchased the interest of the State
of N'orth Carolina. J. A. Gray, Pres't,· Greern;boro, N. C. (V. 33, p. 622,
715.)
Oarolina ·central.-1\farch 31, 1881, owned from Wilmington, N . C., to
Shelby, N. C., 242 miles. Formerly Wilm. Char. & Rutherford, chartered
in 1855. Succeeded by existin<Y compruiy after foreclosure May 3 7 1873.
Defaulted, and Receiver placM in possession April 5, 1876. Sold m foreclosure 1',fay 31, 1880, for $1,200,000. In 1879--b O, gross earnings were
$!66,519; net, $189,269. In 1880-81, g ross, $564J028; m't, $250,835.
Wilmington Brid"'e bonds, $200,000, at 7 per cenr,, are guaranteed by
tbis company and' interest paid. Tbe stock of $1,500,000 is placed. !or
:five years in the hancls of the reorgani~ation Committee. (V. ~o. p. 384,
600, 6Z2; 'V. 31,p. 68; V. 32, p, 6'76; V. 33, p. 357, 559.)
Oatawissa.-Deo. 31, 1880, owned from Tamanend, Pa., to Williamsport, Pa., 93 miles; branch, Summit Station to Silver Bro9k, 4 miles;
total ope.rated, 97 miles. Chartered as Little Sobuylkill & Susquehanna
in 1831; name changed to Catawissa Williamsport & Erie in 1849.
Road OPflned Doo. 18, 1854. Reor~anized under p1,esent name in 1859.
Leased from Nov. 1, 1872, for 99u years to Philadelphia & Reading.
Rental, 30 per cent of gross earninµ;s and $8,000 a year for company
expenses. Funded debt is also assumed by lessees. Seven pe.r cent is
guaranteed on the preferred stocks.
Oayuga d: Susquehanna.-Sept. 30, 1880, owned from Owego, N.1Y., to
Cayuga Lake, N. Y., 34 miles. Cha.rtei.-ed as Ithaca & Ow0i:-,"'O in 1828.
and opened in 1834. · Reorganized as Oayuga & Susq, in April 1873.
Leased in perpetuity to Del. Lack & Western, Jan. 1, 1855, at a. rental of
$54 600 a year. Dividends on capital, 9 per oont per a.nnum. Capital
stoc'k (oost of road to present owners), $589,110. A considerable deficit
to the lessees occurs from year to year.
Oedar Falls & Minn.-Doo. 31 1880, owned from Waterloo, m., to Minn
State Line, 76 miles. Completed in 1870. Leased to Dub. & Siott.x C. for 40
years from Jan. 1, 1867, at $1,500 .per 1nile as a minimum and a contingent of 35 per oent of gross earnm!Z'S from $3,500 to $7,500 per mile
and or 30 per oent oi: any excess over
,500 per mile. Lease transfe1Ted
~ Illinois Central, October 1, 1867.
Capital stock, $1,587,000, and
fnnded debt, $1,587,000. Total (cost of road), $3,17,1,000. A satldng
fund of 1 per cent per annum is provided. (V. 30, p. 90.)
OedarRamdsd:Mo.Ri1'er.-April 1,1881, owned from CedarRapids,
Ia., to Mo. niver (opp. Omaha), 272 miles; branoh, Clinton, Ia., to Lyons,
Ia., 2 miles; total operated, 274 miles, of· which 214 miles steel rails.
Chartered in 1855 and oompleted in 1866. Leased to and operated by
Chio. & N'west. Rental, $700 of the first $1,500 of gross earnings per
mile; 331 3 per cent of ~ext $3,000 per mile, and ~ per cent of any
excess over $4;500 per mile. Gross earnings yeru.· ending Moh. 31, 1881,
$2,981,714; gross earnings per mile, $10,8~1. The rental in 1880-81
wM $815 1550 6lld cllabu.rsemt}nts, including dividends and interest, were
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ff
$ 350,000
15,000,000
13,529,314
300,000
2,000,000
l, i'J 00,000
1,500,000
1,150,500
1,000,000
2,200,000
230,500
209,850
1,300,000
589,110
198 ,000
l,334,000
6,850,400
769,600
700,000
582,000
2,332,000
1,600,000
640,000
1,600,000
7, 500.000
3,75(\000
4,600,000
3,700,000
629,0 00
12,000p. m.
1 8,563,200
5,000,000
4,400,000
1 5,000,000
2,450,000
6
219
F. & A.
..•.
J. & J.
J. & J.
6 g. A. & 0.
6 g. J. & J.
6
A. & O.
5
7
..gig
319
bl.-&· ·N.
bl. & N.
F. & A.
5&10 Various
7
F. & A.
412 J. & J.
7
A.. & 0.
J. & J.
7
112
Q.-F.
319 F. & A .
F. & A.
7
7
F. & A.
M. & N.
7
M. & N.
6
7 g. M. & N.
6
.. ..
4
J. & D.
J. & J.
7
6
J. & J.
7
J. & .J.
7
A. & 0.
6
7
212
7
7
7
7
Q:~.:j.
F. & A.
M. & N.
Q.-J.
:ti. & N.
Phila .• Penn. RR. Co.
N. Y., Grand Cen. Dep.
N. Y., Union Trust Co.
N. Y., Fourth Nat. Bk.
N.Y.,Farmers'L.& T.Co.
New York, O.tfloo.
do
do
Philadeiphia:co.'s office
do
Phila., Phila.& R ead.Co.
do
do
do
do
New York, 44 South st.
N.Y.,J. 8. Kennedy & Co
· . do
do
Boston, Treasurer.
do
do
N. Y., Nat'l Park Bank.
do
do
do
do
N. Y., Company's Offi ce.
N. Y., Hanover Bank.
U.S. Treas., at maturity.
Sava1mab, Ga.
N.Y.,Nat.City Bk.&Sav.
Savannah, Ga.
New York, Office.
do
do
New Yor1r: ·ai°offlce.
do
do
do
do
do·
do
do
do
1897
Feb. 1, 188!
Jan. 1, 1908
Apru1;·i920
July 1, 1915
July 1, 1910
i·s; ·
Nov:
i8S1
Nov. 18, 1881
Feb. 1, 1882
1888 tio 1900
Feb. 1, 1900
Jan. 3, 188 2
April 30, 1884
J an. 2, 1907
Nov. 1, 1881
Aug . 1, 188 L
Aug. 1, 1891
Aug. 1, 1894
May, 1916
May 1, 1895
May 1, 1895
1896 . '97, '9 8
Dec. 15, 1881
Jan. 1. 189 3
1891
July 15, 1893
3 mos. notice
1
April 1i~\s10
1890
Nov. , 1902
July 1. 1899
May 1, 1908
$638,814. The total balance to oredit of income account l\Iarch 31,
1881, wae $611.825. In 1880 purchased a majority of the Sioux City &
Pacific R ailroad st-:ick. (V. 32, p. 611.)
·
Oe1itral B,-an,ch Union Pq,cific.-From Atchison, Kan., to Waterville·.
Kan., 100 miles; and haa a n extension under the name of Atchison Colorado & Pa-0ific of 229 miles, makin <1' 329 miles in all, and the. bonds
of the extension are guaranteed by U. P. company. The Union Pacific
Central Branch was formerly tbe Atchison & Pike's Peak R ailroa d, and
wa~ one of . t)le ro~s embraced in th~ a ct of Con~ess inC?rporatiJ,;1$ ~he
Uruon Pamfic Railroad. The stock 1s · $1,000,000, of wh10h the umon
Pacific holds about $000,000. The company received a Government
subsidy of $1,600,000. Default on interest was made May 1, 1873, bui
no foreclosm·e took place. In 1879 the earnings on 224 miles were
reported at $1 ,000,000; operating expenses, $477,862 ; net ea,rnings,
$522,138. (V. 31, p. 46, 68; V. 32, p. 335.)
Oentral of Georgia (d: Bank) .-Aug. 31, 18b0, owned from Savannah.
Ga., to Atlant a, Ga., 20-i ~ miles; branch, Gordon to Milled g eville, 17
miles; leased-Augusta & Savannah, 53 miles; Eatonton Br. R ailroad,
22 miles; Southwestern R ailroad and b ranch es, 310 miles; Upson
Couuty Railroad. 17 miles; total operated, 714 miles. In January,
1880, purchased the former Savannah & Memphis road-Opelika to
Goodwater, 60 miles-for $700,000. In 1881 the Port Royal & Augusta,
road was lC\ased : also a lease of tho Georgia Railroad for 9~ years was
taken in the interest of this company. The certificates of· debt were
issued, June, 1881; as a dividend to stockholders-$40 p er share to Ce,ntral Georgia and $32 per share to Southwestern. The company owns a,
la r ge interest in couneoting lines and in the Ocean Steamship Line of
Sav·a nnall.
ru~::i~
Yea1•s.
ar~;~c Earnimt:--- ,-l:s~nts
E~i~~!-;:
1876-7 ... .. . $2,409,092
$826,925 $439,596 $255,412 $187,500
1877-8.... .. 2,675,313
1,093,967
439,631
279,178
~75,000
1878-9. .. .. . 2,781 ,654
1,181,906
439,652
272,428
375,000
1879-80 . ... 3,144,102
1,508,652
4.39 ,666
267,n2
. ...... .
1880-1.,.. . . 3,707,891
1,38U,494
439 ,666
267,000
....... .
This company and the Geor 0 'ia Railroad Company are joint ·owner s of
tlle Westem Railroad of Alallama, purchased at foreclosure sale in
April, 1875 . .The "tri-partite" bonds are issued jointly by this company,
the Macon & Western and the Southwestern. (V. 31, p. 381, 404 ; v.
3~. p. 44,331,396,611; v. 33, p. 526, 58'7, 715.)
Central Iowa.-Juno 30, 1880, owne<lfrom Albia, Ia.;to Northwood, Ia.,
189 miles; Muchakiuock Brauch, 2 miles; total operated, 191 milos.
Chartered a s Central RR. of Iowa and opened iu 1871. Defaulted a nd
placed in bands of a R eceiver in 1873. Reorganized under present title,
June 18, 1879, after foreclo1Jure sale under 1hst mortgage July 18, 1877.
Gross e:u·uing-s in 1878-79, $715,563; net earnings, $160,545. In '79-80,
!!Toss earn ings, $889,468; net, $452,901. The n ew stock issued is
ij2,100,ooo common; lat pref., $907,000, and 2d pref., $1,167,800,
briven for the old 2d mortga"e bonds. 1st preferred has prior right to
7 per cent (non-cumulative) 'h-om net profits, after payment of interest;
then 2d preferred en tit.led to 7 per cent; any surplus, after payment of 7
on common stock, to be divided pro 1·ata between th~ three classes. In
February, 1880. tile inoome bonds were issued to first mortgage bondholders in payment of four years' net earnings due them, ancT are paya
ble by the company on three montbs' notiue. In December, 1881, stockholders of this company had the privilege of subscribing to the bonds
of the Ohicago Bur.l . & P. (extension line}, and received a bonus of Cent.
Iowa stock. See V. 33, p. 686. (V. 31, p. 20, 115, 259; V. 32, p. 205,
312,500; v. 33, p. 587, 686, 715.)
Oentral of New Je1·scy.-Doo. 31, 1880, owned from J ersey City, N. J.
to Phillipsburg, N. J., 73 miles; branches, 57 miles; leased-in N. J., 50~
and in Penn., °215; total operated, 395 miles. The principal leased lines
in Pennsylvania are the Lehigh &Susquehanna and the Lehi~b..~ Lac.K.
with their branches, &c. The main lino from Elizabeth to PJ.llllipsbupg
was opened in July, 1852, and exten ed fi'om Elizabeth to Jersey City
in 1864. The Long Branch division was opened in September, 1S75
The lease of the Lackawanna & Susquehana Raih·oad is dated Maroh 31
1871, and is virtually a consolidation agreement, the lessees having pur
chased the rolling stock. In February, 1877, the property was pluced in
the hands of a receiver, and on April 1, 1877, default was made on con
solidated mortgage interest. Reorganization followed [See scheme, V.
26, p. 215), and llas been a success. Of the $11,500,000 Le,high &
Wilkesbarre Coal bonds, $6,116,000 are held by Central of New Jersey
and are deferred, having no claim for interest till all other bonds are
satisfied. The Lehigh & Wilkesbarre Coal Co.'s stock is $8,700,000. In
May-, 1881, the R eceivers paid 319 per cent on the income bonds. No
satisfactory report has been issued since 1878. In February, 1881.,
Messrs. Jay Gould and Sidney Dillon were elected dil'eotors. The
American Dock & Improvement Company, which is virtually owned by
the railroad colllJH1DY, issued a new mortgage in June, 1881, to retire
tha prior issue aRd pay oil' the Central of New Jersey floating debt ; and
the company reserves the r!_ght to purchase these bonds by Jot at 110
The operations of the New J ersey Central only, exclusive of lease<:t. unes.
showed gross e11rnings of $-l,317 ,218 and net earnings of $1,371,580
in 1879, again.st $5,306,970 gr068 and $2,145,222 net in 1880. Gross
revenue on all lines has been a.s_followe:
Subserlben will eonCer a great Cavor by giving immediate noUee oC any error dlsco..-ered ID these ~bles.
DESCRIPTION.
For explanation of column headings, &o., see notes
on first page of tables.
Qcntral oj New Jers~-(Oontinued)Ne\\'.'ark & ~cw Yor , 1st mortga~e ...............
Lehigh & Wilkesbarre Coal Co., pr or liens ........
do
do
Consol mort ........
L. & W. B. Coal Co., inc'me bds, rg. (not cum'lat'e)
Am.Dock&Imp.(',o. new M. bds.,guar. C. of N. J.
Adjustment mort. (redeemable any time at par) ..
Oentral Ohio-Common stock .......................
Preferred stock ..........................•..........
o:!~:°P1!~fj~~t::
·.::::::::::::::::::::::::::::
1st mort., gold (2 sinkin<f funds, ~0,000 eaoh) ..
California State aidBgol (s. fund, $50,000} .. ....
lstm.S.Joaq'n Val. r., gld (s.f. $50,000) .....•.•.
U.S. Loan, (2d lien on certain terms) ..••.......•.
Western Pacrfic, 1st mort., gold, (s. f. $25,000) ...
do
Government lien ......... . .......
Cal. & Oregon, 1st M., gold, guar., (8. f. $100,000}
Cent. Pac., mortgage. on C. & 0. Branch ..........
San Fran. o. & A .• lstM. (s. f. $100,000) ...........
Land grant mor~:l'.(e bonds ............ , ..........
Income bds. ($6,000,000), skg.fd.,10 p.c.per ann'm
Oharlntte Oolumbia ,t .Aug-1 "8ta-lst mort. consol ...
2d Mortgage .................... . ...................
Ohartiers-lst mortgage . ..... .. .................... .
<Jhury Valley Shar. d Al.-lst mort. lien on road.
0/usapeake tt Oli:i<>-Puroh. money funding bonds. ..
1st mortgage, gold, "A" . ...........................
do
do "B" . ....... ...... . . ............
2d mortgage, cur. (interest in stock or cash) ..... .
1st mort§age, gold, Peninsula Extension .... . •...
0/ushire- tock, preferred ... . ................ . .....
B_onds, not mort ag-e .... . ............. .. ...........
Chicago cl .Alton- ommon stock ..... . ....... . ......
Preferred st'ck (7 n. c. y'rly not cumulative) ..• . .
General mortg~e: ste:i;Jing, for £900.000 .. . .....
6
INTEREST OR -DIVIDENDS.
/Joncts-Pnnof
Miles Date Size, or
A
t
pal, When Du~.
of
of
par
rOuta~:::W.g Rate per When Where Jla.yable, and by St ock11-Last
Road. Bonds Value.
Cent. Payable
Whom.
IJivideud.
---·· ---1----1-7
$600,000
4,720,000
1·.000 11,500,000
3,553,000
100 &c.
1,000
5,000,000
....
5,550,000
1878 100 &c.
i37 ....
2,437,950
50
411,550
137
50
--·· 1,000
2,500,000
137
100 59,275,500
2180
742 1865-8 1,000 25,883,000
1,000
1,500,000
50 1864
146 1870
6,000,000
1,000
742
25,8ti5,000
2,616,000
158 i869
1:000
1,9'(0,000
123 1869
6,000,000
152 18.6 8
1:000
1,000
2,080,000
152 1872
1,000
687,000
20 1870
1,000
6,230.000
1870
All. 1878
1,000
3,285,000
1,807,500
195 1869 500 &c.
500,000
195 1872
1,000
500,000
1,000
23 1871
300,000
21 1869 500 &c.
1,000
2,350,000
428 1878
1,000
2,000,000
503 l878
428 1878 100 &c. 15,000,000
428 1878 100 &c. 10,122,500
42 1881
1,000. · 2,000,000
:.l,100,000
64
100
800,000
..... 500 &c.
100 11,181,841
677 ....
2,425,400
649
100
1,000
4,379,850
822
.....
1867 $500 &c
.... is15
....
iasi
....
....
i873
Years.
E~=gs.
Ea~gs.
~ a . i ~~~t~ofv~~
1874 .. .. $8,609,276 $4,468,675 $1,128,434 $807,406
1875 .... 7,411,637
3,282,910
1,059,549
658,243
1876. .. . 6,983,173
3,188,469
983,113
675,609
1877.... 5,753,413
2,484,84q
706,345
563,114
......... .
1878.... 5,589,526
2,302,770
699,134
734,500
......... .
1879 .... 6,730,980
2,635,586
.... ...
.... . ...
. .... . ••••
-(V. 32, p. 205, 231, 396, 420, 444, 454, 468, 635; V. 33, p, 23, 93,
502, 528, 559, 622, 686.)
d
7
6&7
7
7
5,
7
3
3
6
3
6
7
~
6
6
6
~
6
8
7
7
7
7
6
6
6
6
g.
g.
g.
g.
g.
g.
g.
g.
g.
g.
g.
6 g.
1~
6
4
4
6
Q:.
J. & J.
New York, a.t office.
Q.:..::M.
N. Y.,
RR." of N. J.
do
do
do
do
N. Y., Cmt. RR. of N. J.
Ba.it., at B. & o. office.
do
do
do
do
N. Y. & San Francisoo.
N. Y., Fisk & Hatch.
Sacram'o Sta~·Treas.
N. Y., Fisk &. Hatch.
U. 8. Treasury.
N. Y,. Fisk & Hatch.
U. S. Treasury.
N. Y., Fis.k & Hatch.
~ew York & London.
N. Y., Oent. Pac. Office.
N. Y., Fisk & Hatch.
N. Y. and 8 :,i n F ran.
N. ·Y., Nat. Park Bank.
do
do
Philadelphia, Penn R.R.
N. Y.,Del.& Rud.Can.Co.
N. Y ., Fisk & Hatch.
do
do
Company's office.
do
do
do
do
Boston, Offloo.
do
do
N.Y.,Jesnp, Paton&Co.
do
do
Lond'n,J.8.Morgan&Co.
ll. & N.
J. & J.
M.&N.
J. & J.
J. & .r.
M.& 8.
F. & A.
J.
J.
A..
J.
J.
& J.
& J.
& o.
& J.
& J.
J. .&.J.
J. & J.
J. & J.
A. & 0.
M.&N.
J. & J.
A. & 0.
A. & O.
J. &D.
J. & J.
A. &O.
M.t.~N.
J. & .r.
A. & O.
J. & J :
J. & .r.
'M. & 8.
'M. & s.
J. & J:
cent:
1887
June· ·i; .i900
May 1, 1888
July 1, 1921
May 1. 1903
July 29, 18a1
July 29, 1881
Sept., 1890
Aug. 1, 1881
18~5to '98
July 1, l,8~
Oct. 1, 1900
1895 to '98
July 1, .1899
1899
Jan. 1, 1888
Jan. 1, 1892
July 1, 1890
Oct. 1, 1890
May 1, 1888
Jan. 1, 1895
Jan. 1, 1910
Oct. 1 1901
Deo. 15, 1899
July 1, 1898
July 1, 1908
July 1, 1908
July 1, 1918
Jan. 1 1911
July 2 0, 1881
July 1, '96&'98
Se.pt. 1, 1881
Sept. 1, 1881
July 1, 1903
Ohariotte OolumbJa d! Augusta.-Sept.. 30, 1880, owned fromCha.rlott.e,
N. C., to Augu&ta, Ga.-, 195 miles. Oonsolidatl-0n (July 9, 1869) of the
Charlotte
& South · Carolina and the~-Columbia. & Augusta. the tlrst
$2,000,000
2,013,125 opened in 1852 and the latter in 1867. The road has been under-the
control
and
ma.nll.!rement of the Riohmond & Danv. since 1878. Gross
515,000
earnings in 1878-lJ, · $478;491; net, $232,669. Gross earnin~s 1879-80~
$541,116; net, $184,566. There are, in a1tditfon to the abo_ve, bonds,
$189,500 of old Columbia & Augusta bonds :vet outstandin~. dne in
1890. Stock isslled, $2,4d0,000. (V. 30, p. 271; v. 32, p. 467, 577.)
Ohartiers.-Dec. 31, 1890 , owned from Mansfield, Pa., to Wa.sluniton,
Pa. 23 miles. Chartered as C. Valley in 1853 and opened in 1-856.
Oentral Ohi<>.-July 1, 1880, owned from Bella.ire, O., to Columbus~ O., Sold under foreclosure, and reorg:anizod iu 1871. Leased for 99 years
137 miles. Chartered in 1847 and opened in 1854. Reorganizea in
1865. Leased to the Baltimore & Ohio, for 20 years, Nov. 11, 1866;
rental, 35 per cent of gross earnings. Feb. 23, 1880, the lease was
extended to Dec. 1, 19261 with . the option of renewing for terms of 20
:years perpetually. In .1879-80 gross earnings were $1,003,563; n et,
$311,454.; lea,se rental, $351,247. The road between Newark & Columbus (33 miles) is owned jointly with the Pittsburg Cincinnati & St.
Louis RR. Co. (V. 30, p. 544..)
from January 1, 1872, to the P1ttaburg Cincinnati & St. Louis; the
rental is n et earnings. Gro~ earnings fn 1880, $93,733; net income,
all sources, $31.730; in 18791_ gross eamlngs, $34,6 60; net income,
$24,749. Capital stock, $648,3u2. (V. 30, p. 382; V. 32, p. 4 9 8.1
OlierMJ Valley Sharon <l AlbawJ.- Sept. 30, 1880, owned from
Cobleslrill, N. Y., to Cherry Valley, N. Y., 21 miles. Chartered in 1869
and opened in 1870. Lea8ed on completion to Albany & Srn1que.hanna.
Sold to Dela.ware & Hudson Canal Co. for $320,119. R ental $21,.0 00 a.
, .
Central Pacifi,c.-Dec. 31, 1880, ow:ncd from San Francisco, Cal., to year. Capital stQck, $387,650, and funded d eb~, $300,000.
Ogden, Utah, 883 miles, and auxiliary lines, 332; total, 1,215 miles;
Ohesa~ake
~
Ohw.-Sept
30,
1880,
owned
from
Richmond,
Vn.., to
operated under lease or contract-the Southern Pa.eifio in California,
1
Arizona and :N'ew Mexico, 1,027; California Pacific, 115, and others, ~99; Huntington, W. Va., 428 uules; branches 9 milos: total operated, 437
miles.
In
October,
188
1,
oompleted
to
N
ewport
News,
75
miles.
Oontotal, 1,441 miles; total leugth of road operated and accounted for Jll.Il.
solidation of Virginia Oentral and Oovington & Ohio, and onened
1, 1881, 2,656 miles.
throu~h
March
1
,
1873.
Tbe
old
company
d
efaulted
in
1873
and
This was a consolidation (August 22., 1870) of the Central Pa,clflc,
California & Oregon San Francisco & Orudand San Francisco & Alameda the road was Rold under foroolosnre April 2, 1878, for $2,750,000,
and
reorganized
under
present
auspioeB.
The
Eliz.
Lexington
&
Big
and San Joaquin Vahey railroads. In connection with the Union Pacific,
the Central Pacific forms a continuous line from San Francisco, cal., to Sandy Railroad counect:.8 on tho we~t. and in 1881 an interest in th&
Elizabethtown
&
Padnoah,
the
Memphis
Paducah
&
Northern
and
th&
OouncilBlu:tls, Ia. (1,918 miles), and there connects with the lines eastward. Construction was commenced in Februll.l'y1 1863, and the main Kentucky Oentral roads wu.s pnrohasedforthis company.
The
annual
r
eport
for
1879-80
was
published
in
V.
32,
p.
154,
and
Jme (Sacramento to Ogden) opened May 10. 1869. The Union Pacific was
completed on the same day. The prices of stock have been as :follows: the President, Mr. C. P. Huntington, said in his report: "The financial
condition of your company is good. Before any considerable amount
1880.
1881.
1880.
1881.
of money will be required to meet the interest on its bonds, the whole
Jan ...... 87 - 81¼
9 8 14- 86
July . .... 7412- 69
10012- 8934 line of road will be lrud with steel rails, well equipped with rolling
Feb .... 84l!a- 8018
93¼- 8012 August .. · 78¼- 7319
9-l - 87½ stook, and the track thoroughly ballasted, and, most of the way, with
)18.rch .. 8312- 76
8912- 8312 Sept'ber. 76 - 7112 98 - 88½! broken rock. Earnings and expenses were as follows:
.April . . . . 80 - 72
89 - A312 October·. 79·::\i- 72
9634- 9012
Gross
Operating
Net
:lj.ay ..... 72 - 63
98 7e- 86:\i Nov'ber . So½- 78::\i
9738- 93
Earnlngfl.
Expenses.
E..'l.rninge.
Juue ..... 73 - 65
102 7s - 9 4½! Deo'ber . 9712- 81
. ..... . . . .. . Years.
1876-77 ..... .. ·•··· .......... $1,702,533
$1,363,225
$339,308
The annual report for 1880 in t he CHRONICLE, v. 33, p. 327, had the 1877- 78 ... .. . . . . . . .. . . . . . . . . . 1,930,360
1,594,7 39
341,021
to,llowing:
1,878-79.. .. .. . . . . . . . . . .. . . . .. 1.891,54 2
1,507,332
384,2-09
INCOME AOCOUNT.
1879-80........ . ............. 2,514,245
1,945,018
5tro,227
Receipts1879.
1R80.
Under the reorgo,.nization the stocks are ns follows to July 1, 1881 :
Net, earnings (over rentals) .. ...... .. ... .
$5,9-16,-13.J,
$7,634,5114 Common $15,906,138; preferred ·atook-flrst. $ 7,247,8 03; sooond.
Interest on silakiug f11Qds . ........ ...... .
25 ,1,617 $8 ,1~8.489. The "B" bonds take interes t In first preferred st~k till
2:13.903
Laud grant llouds rode'emed . ........... .
433,000
200,000 N:oveml>er, 188 .l ; in 1881-82 3 per cent cash and 3 per cent stook; in
Mis<Jel l,meous ......... . ...... . ........... .
97,808
51,8 '> 5 1882-83 4 per oont cosh and 2 p . ct . ln s~k, and thereafter a ll cash . T h e
t:ontract with W., F. & Co.-Stock sold ..
348,1-10 seeond mortgn.ge curren oy bonds till July, 1884, t.ake interest in seoond
preferred stor.k, thun for two years partly in that stock and .partly oaah,
n.n·d afterwards all cash, it the earrungs are sufficient but " a.ll interest
Tot>tl income ..........•...............
$6,711,145
$8,492,116 not paid in en.sh to be paid in Recouct prP-ferred stock." The cash interest
I>isbursementson series "B" begins a t$ b50,000 per yoor in 1881-'8 2, and rune up to
Int erest on debt .......... _............. .
$3,71!';,325 $H00.00O in 1883-'8 b and ru'tcr. Fir1,n, p ref. st-0c1r has prior right to 7
$3,667,885
Dividend Nos. 9 and 10..•.. - •.•••..•••..
3,406,5J0 per cent fl'om surplus; then 2d pref. to r ooei ve 6 per cent; both classes
I!recede the oomwou: (V. :~o, p. 141,248 ; V. 31, p. 204,405, 4.83, 509,
652; V. 32, p. 154, ;>4: Ac; V. 3:J, p. 46 7, l:>17, 553, 715.)
Total disbursements........ . .........
$3,667,885
$7,121,855
Oheshire.-Sept. 30, 1881, owned from South A!lhbm·nhamhMa.sfl ., to
Balance, surplu~ ....................... ...
$3,043,260
$1,370,261
Bellows . Falls, Vt.i 54 mile1:1; lea8ed, Monadnook RR.1 _Wiuc eudon to
Earnings and dividends for several years have been as follows:
Pt1tl•,rboro, N. H., 6 miles; and 10 miles Vermont & lU.ass; total operated, !-1 0 miles. $51,000 r ental paid to Vt. & Mass.fo1· leased portJon
Ave.
Gross
Opera.ting
Net
Dividend
of ron,d. Gross earnings in 188 1-81, $6 22,~,9 5 ; ·n et earnings, $84,UO.
Ye.ars. Miles.
Earnings.
Accounts.• Earnings.
to Stock.
Ctipital stock-Mmm.on, $53,300, and prcfcrred1 $2,100,000. (V. ~7, p .
1876 .. 1,425 $16,996,216 $7,857,211 $9,136,005 $1.342,040 (8)
~37; v. 30, p. 518.)
1877 .. 1,783
16,471,144
7,774,418
8,696,726
4,-342,040 ,S)
1878 .. 1,941
17,530,858
8,780,312
8,750,546
···· ·· ·· · ·•·
Olticar,o & Alton.-Dooember 31. 1880. milen,ge as follows: Joliet
1879 .. 2,178
17,153,163 10,207,862
6,945,300
···· · ·······
to Ea. -t St. Louis (m ain}, U ! mlles; Branches-T o Coal City, 4 mUes ;
18~0 .. 2,300
20,508,lH 12,045,668
8,46:l,4-14
3,4-06,530 (6) Dwight to Wa.shiu~n & La.o'n, 80 males; Roodhouse to Louiala.nni 38
mile,; Tota.I owne<t, 366 miles. Loased-Cllicago to Joliet, 37 ml es;
J oliet to Mazon River, 24 miles; Bloomington to Godfrey, 150 miles;
• Leased lines rentals included in operating expenses sin(le July, 1878.
Louisiana to Cedar City, 101 miles; Kansas City to Mexioo, 162 uilles.
The land department makes the following exhibit: Total grant from Tor.al Ien.sed, 474 mi les. Total operated, Doo. :n, 188 0, 840 miles.
the United States (12,800 aores per m.ill}J •7,997,600 acres: in-ant to
Chartered as the Chien.go & Mi.s8iss.ippi, Feb. 27, 1847; reorganized
the California .k nregon Railroad, 3,724,800 acres; total, 11,722,400 under l10t of JanuaJ.·i 21J.1857, as Chioa.~o Alton & St. Lonis, and under
acres. 'l'm:' ,-a.!l.ds have be~ Bold mostly on five years' (;!me, with a oaah act of February 16, l!:561, the present corporation amoooeded to tho
payment ot 20 per cent at time of purchase. There had been sold prior property, which was sold under foroolosure in the following year and
so the ex:e-011tion of the la nd mortga,ge, o.-,~"'•'>er 1; 1~70, l27,6a'7 acre.~ transferred to new organiza.t1on in Oct.ober, 1862. Chi~8'o and SJ;.
for $295,065, and since 1875 yearly sales a.s follows : 1876, 36 50 3 Lonis were connected by the present line in 186,1. '.1ha Joliet
acroR, o.t an average of $7 54 per aore; 1877, 92,617 acres, at $12 99¼; & . ChiGl\go is leaood from January 1 1864 tor the term ot ita
1:878~ 78,100 acres, at $8 24237s; 1879, 43 ,258 a.ores, at $.\ 2'212; 1830. charter, and forms part ofthe ma.i;l ·llne. Rental, 7"per cent on st.ookand
114.z:s~2 a01·e.s, at $3. ( -v. :n. p t tn. 4.?.9 . 'l!>. MS, 652,672; v. 3 2, 8 p er oont on bonds. The St. Louta'• Jaokaonville & Chicago la leaaed in
p. 6Q. 9:1, 121 154, 199, 2Sl, 658; V, 83, p. 78, 153,254, 327, 828.)
perpetuity from April 80, 1868, at a rontal equal to 4:0 per cent of gr088
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Subacrlber■
will conCer a greai Cavor by giving lmmed.laio notice oC any error
DESCRIPTION.
Miles Date
r explanation of colwnn headings, &c., see notes of
ot
on first page of tables.
Road. Bon
dl■eevered
In
the■e
Tablea.
INTEREST OR DIVIDENDS.
Bond,-Prf'ncl.
Size, or
Due.
Amount .Rate pe1· When Where P-w;able, and by pal,When
Par
Stocka--Laat
ayable
horn.
Dividend.
Value. Outatanding
Cent.
- - --· ---
icago ti Alton-( Oontinued)-
s!oU::!'t:13s::::
::::::::::::::::::::::::::::::::::
oliet & Chica.go, 7 per cent. stock ......... . ......
220
220
38
38
150
37
37
150
101
101
do
do
1st mortgage, sinking fund .....
. Louis Jack. & Ch. , 1st mai-t:ftage . . ......•......
do
do
1st M. en orsed by C. & A . .
do
do
2d M. endorsed by C. & A ..
do
do
2d mor~age ...... . .... ... ..
uisiana & Missouri, 1st mo ~age ...............
do
do
2d mort.(mt. guar. C. & A.)
do
do
~ar. pref. stock . ..........
onds for K.C.St.L.& . line, s.f. $60,000 after'7g 162
referred stock do
guar. C. & A .........
mmon stock do
. . . . . . . . . . . . . . . . • . ...
&A. bonds on Miss. Riv. Bridge, 1st mort., gold
icago ct Atlantic-1st mortgage, !(Old ............. 257
iccigo Burlington ti: Quincy-Stock ..• . ............ lo82
ublican Vall1:1y stock .. ... . ... ................ .
st mortgage, sinking fund, (trust) ................ 466
onsolidated mortaa~e coupon, (for $30,000,000) 825
·usl mort.on Iowa ltues,coup.or reg.(s.f. 112 p.c.) 7 40
onds (Repub.Val. and Bur. &Col.bondspledgool
-orthern Crosa R. R. 2d. mort~age, gold .. ... .... 100
rust mortgage (Burlington to eoria) .. ... . .... ..
96
Jain bonds (coupon or registered>. . .. .. . . ........
onds of 1875, (sinking fund $13,860 per year) ..
40
lxon Peoria & Hanni al, 1st m .. · ) Coupon {
70
v-..a~a., Oswe o & Fox Riv., ~st m but may l;e
44
lli~o1s Grand~unk, 1st mo1t .... registered.
'4,0
wncy & Warsaw, 1st mortgaae ..
'de for St. L. R. I. & C. (sink. fuiid $50,000) coup. 270
46
Alton & St. Louis, 1st mortgage, quar .....
281
url. Mo. Riv. , 1st on r'd &400.000ac'sl'd ~ Cp.
do 1st M. on br.,C.B.&Q.stk.(5th ser.)
or·
40
do Conv. bonds, C.B.&Q.stk.(6th ser.\ reg.
f
ulnf
1863
18G2
$1,000
500 &c.
100
1,000
1864
1,000
1864
1,000
1'868
1,000
1868
1,000
1870
1,000
1877
1,000
100
1,000
100
i857
i878
1877
1881
i858
1873
1879
1881
1872
1875
1869
1870
1870
1870
1876
1876
1863
1869
1870
$2,383,000
1 ,008,000
1,500,000
306,000
2,365,000
564,000
188,000
360,000
439,100
300,000
262,100
2,9 '.' 39,000
1,750,000
189,900
(<hlO
700,000
1,000
6,500.000
100 55,265,000
7,81:15,000
2,493,000
1:000
1,000 13,981 ,000
1,000 12,000,000
1,000
7,895,000
f.91 ,000
6 53,000
552,475
1:000
1,000
390,000
500 &c.
545,500
1,000
1,076,000
500 &c.
890,500
1,000
720,000
1,000
2,325,0CO
1,000
8 -10,0CO
50&o.
4,454,550
1:.;6,000
500 &c.
500 &c .
307./'WO
J. & J. N.Y.,.Tesnp. Paton & Co.
A.. & o. N.Y.,Jesup,Paton& Co.
Q .-J.
.N. Y . u. I:!. 'lxust <Jo.
J. & J. .Y.,Jesup, Paton &Co.
8
• & o.
do
do
7
A.. & o.
do
do
7
do
7
J. & J .
do
J. & J.
do
do
7
F. &A.
do
do
7
U.&N.
do
do
7
clo
do
3¼ F. & A.
(lg. M.&N.
do
do
Q.-F.
do
clo
l½I
Chio .. m. Tr. & Sa.v. Bk.
7·40
A."&·o. N.Y.,Jesup, Paton&Co.
6
New York.
6 g. !II.&N.
Q.-1-L N. Y., Bk. ot Uommerce.
2
J. .&.J. N. Y., B·k_- Commerce.
7
J. & J. N.Y •.N.Bk.of ( '-Om.&BuHt
4&5
A.. & o. N. Y., Bk.of Commerce.
4
Frai.;kioi·t.
4 g. J. & J.
A.. & o. N.Y., N. Bk. of Com'rce.
7
J. & .T. Boston, Co.'s oltice.
7
5
J. & D. Boston. Co.'s Office.
J. & J. N.Y.,N. Bk. of Com'rce.
8
J. & J. Ne,v York and Boston.
8
A.. & o.
BoRtou.
8
.J. & J . N.Y.,Farmer,1' L.&T.Co.
8
A.. & o.
Bo8ton.
5
F. & A. N.Y.,Farmers' L.& T.Co.
5
A &0. Hoston and New York.
7
& J. Boston, 49 Sears' Bldg.
8
, '10
,,to
.J . & J .
8
7
7
l~
··s·
o'.f
Jan.. 1893
Ja.n., 18AA
Jan., 188S
J uly, 188'"~
Im
April 1894.
April 1. 1894.
July,
July, 189
Aug.. I
Nov. 1, tnO()
Aug. J 1881
May f, 11-fOS
Nov. 1, 1881
May 20, lf!8l
(>ot. 1, 19 l ~
May l, 1920
Dt',e. 15, 1881
Jan: ··c iss~
J1Uy 1.
rnis
Oct. 1, 19 9
Juiy·°i;·isso
Oct. 1, 1890
Jau. 1, 1896
June I. 18&:I
July, 1889
July, 1900
Oct., 1890
Jilly, 1890
Oot. 1, 1901
Feb. 1, 1896
Oct. 1, lffl
July 1, 18 4
.Tuly l. 1.~R9
MilM.
Miles.
Xebraslr.a. City to Ceatral City 150 Pacific June. to Council nlufl:8
1.8
NehamaCity to Nebraska.City
27
Q5
Hastirn,rR to Indianola......... 148 Total........ . ....... . ....... . .
Amboy_ to Hubbell ..... .......
52 'fotal opera.too Deo. 31, 1880.2,'Tn
Controlled since .
,
·.Atchil:lon to Colwnbu.s....... . 221
- - K a nsas City to Council · Bluffit ., 19'
Z
Total owned Doo. 31, 1880 ... 2,677 council B. to U. P. traM. grds.
Winthrop J . to Atch. Bridge.
1
Main line to East Nob . City ..
i
LeaaedAmazonia,
.Mo.,
to
Hopkins
.
.
6
0
Quincy to East 1:,<)uisiana .. i
46
Brauch to Hanrubal ........ 5
Grand total ............. ...••. 2,998
Use.d jointlyAlton· to East St. Louis.......
21
* 28 miles of this Included abo-ve
Hamburg to E. Nebraska City
10 under" Leased."
\
1.'lle Ghfo~o Burlliigt-On & Qaincy W118 a consolidation (Jan. 1, 1873.
of the C.b:1•·1a,;::., Burlington & Quincy in lliillo10, an1 th~ ihm.ington &
Missouri River in lowd.. The Q. A. & St. L. was leased in poroetu.ltr
from Oct. 1, 1 876, at a rental of $42,000 1~ yoar. The St. L. R. I. & C.
was leased from Oct. 1, 1876, at a rm1tal of $175,000 a year. I:a
1880 the Burlinirton & Mo. ill Nebra-1ka was absorbed, 660 mllea.
,----Common.---, r----Preferroo.----- · including leased linea. A stO<'lr dividend of 20 per cent was then
1880.
1881.
1880.
188 t.
made. 1'he Republican Valley RR. stookholclcrs were given a. deforred
7 s· 9912
109
156
-14.9
120
ma -153 s t ock entitied t o no di v1aen d s before•J an. 1 • 188-;:,, b u t ill
· O c t ., 18"'1
♦11014·10612
15014-1'.-'4
122 -117
-122
149½!-14912
c thrwio
_
1.
_
_
Chic. Bur. & Q. stock was given for tllis, in tho proportion of
ei;,
144 136
141 140
116 106 ~
· ····· ······
shares for four. The C. n. & Q. 4 per oent bonds were then iKBUed
115 -108
14012-i32
127 -124
145 -145
again.fit Rep. Vall~y and .Hur. & Col. 5 per cent bonds held in trl.Ult, and
10812·10312
147 -rl5
124 -122lg
147 -147
au equal amount of Rep. Valley stock scrip was also issued to subscribers
3
i~fo··-i:fo.. ~~ .. -~~ .. to the bonds, such scrip being entitled after April 1.1882, to same divi5 ..,,
den,is as Chica,go Burlington & Qu.inoy stock. and exchangeable into
118 xl1312
143 -127:x:
130 xlZ512
· · · · · · · · · · · · that stock a t the option of the Comp:my ou 3 11 days notice. ~
118 -113
132 34·128
130 ·130
v. 33, p. 328. 'fho Kansas City St. Joseph & Oounoil Blu.ffil and
136 7 e-11212
13012·127
14212-142.Lg
i¥o··-i¥o·· 01';111Ches was \Hl.t:'i'lln~d. 2¾ miles. Soo !lt.atcments of those ro&d.s, prior
144 -131
13712-129
144 -140
· · .. · · · · · · .. to OOJH1vlidation, in SUPPLEMEX.: of A.priJ. 24, l>j80; also in CH.RONlcn..a.
.mber .. 15912-136
. . . . . . . .. . . ..
160 -142
....... -. .... ... ,-•'-'
•->o ' , ...
•1 '
''ll{l V . 31 ' p . 22P._,.
Annual r eport for 1880 in V. 32, p. 264. Operations, earnings, &c.,
Tl10 Wea.go BLulington & Quincy on its leases of the num&rous brancll
ave been as follows for four years past:
roads usually gave tlletn a traffic guarantee or 40 or 50 per oent for pur-1877.
1878.
1879.
1880.
chasing their bonoo. h'noUA"h or the C. B. & Q. consolidated. mortgagu
$
$
$
$
is reserved to take uv. prior debts. The bonrls of 1876 for St. Louis Rook
2,107,:=!38
2,156.385
2,706,156
3,6'.!5,401 Island & Chicago Rail1't>ad are plain bonds of Chio. Burline.-ton & Quin-ty,
lou,000
173,M5
33,000
~G9,505 offset by mortgage or like amount on St. Lou.is Rock L,ifand & Chica8Q
road deposited with trustees. Prices of stook !lave been:
·
----2,329,930
2,739,1 56
3,89!,906
•.rotal income ....... 2,257,338
1880.
1
881.
1880.
l',81.
Dislnirsements$
$
$
$
182½!-16738 .July .. .. x 12514-120
16.5lg-151
595,125
754,913 t 1,067,991 Jan .... . . 152 -136
528,658
en tals paid .........
Fel> . ..... 148 -14A¼ 175 -ltiO
Aug .... x 139½1-12612 16l¼·H9
102,l 7f'>
an. C. St. L. & Chic ..
Mar
.
..
•
..
149-'2-140½1
169S4-16119
8ept
...
.
.
1
40
-1
:L6
Hi6x - ,47~
574,372
562,751
561.279 · · · 77i·.~·6o
terest on debt .....
166lg·l62
O ct ....... 146 -18-llg 160·136 x_p
10~l,4•n
448,2tn
lfi5,9til
147,4~8 Apr, ..... 149::\.1,-12:i
axes* . .... • .. . ......
May
....•
x125-113½1173
-1
6
5
!Nov
......
175½-14512
14.J
·136lll
865,lOi;
926,8i;8
76:'l,77n
85·1.359
ivideurls ..... .. .....
171 -16212 Dec . . ..•. 18312-167
........... .
J(l!.!,00•-i June ..... xl22-113
20,500
28,000
~.ooo
iscellaneous . .. .. ...
30,7::i7
30,737
30,737
48,497
. & Mo. R. b'd acct.
The laBt annual report was published at length. with un article on the
general situation of the company, in the CH&os1cu,;, V. 3;!, p. 347, 36a.
Total disbursem•ts. 2 ,21 5,85~
2,503,913~
2,-!o0,3 ·H
2,97,J,87 l Comparative sta.tietics for four years are as fo llows:
a.:anoe, BUI'. or def .. sw·. 4l,48u def.174,0.'>3 sur.338,815 sur.l:J21,u 35
1977.
1878.
1879.
1880.
* Baek taxes paid iu 1877, $8,667; 1878, $303,206; 1279, $34,025.
2,H7{;
1,60!
1,760
1,575
Miles owne<l. .. . ....... .
i Includes rental of Kan . C. Eit. L. & C.
1U5
~7
Y7
4.G
Miles loased & oontr'ld.
(V. 31, p. 68; v. 32, p. 264; v. 83, p, 47,224, 641.)
2,772
Total operated.... ..
1,621
1,709
1,857
Ohicago ct Atrantic.-Roa.d in progress from Marion, O., on line of N. Y.
$
$
$
$
enn. & Ohi?J to Chic~o, 2?J7 miles. Built as a oonnecting- line fur N. Y. Total ~osa earnin,,"8 . . . 12,551,45 'l 14-, l W,665 14.817, 105
20,49 2,0-1 7
• & o. and .N. Y. Ln.ke- J£rie & West., aml both these oompaniea guaran- Total operatingexpen.s. 6,8 ,H ,155 7,5a3,1::J.) 7;l28.122
9,:362,UO.f.
e the gross earnings on l>usiness over their road.1:1 to and from the
. ie. & Atlantic, as security fur interest on the l>onds. See V. 33, p. 23. Net earnings . . .......... 5,700,299 6,586,580 7,58.-i,883
11,129,148
-i5·69
54·58
53·35
48·74
Ohicago BiwUngton cf: Quincy.-Jan. l, 1880, mile!l.,(re was as follows: P.c. of op'g exp. to e'n'ga
Main lineMiles.
Miies.
INOOME ACCOUNT.
hio~go to Burlin~on... . .... 205 Keithsburg to S_agetown.....
17
$
$
$
. $
urlington to Plattsmouth... 281 Keokuk to Burllnt:,1ion. .......
42
·. Branches-·
Chariton to Leon . . . . . . . . . . . . .
38 Total income . ......... . . 5,700,299 6,586,530 7,588,883 * 12,028,408
Di.sb-ui·seme,ntsntral Depot.................
2 Chariton to Indianola. . .......
33
179,093
203,006
131,39:5
155,6fl5
alesburg to Quin~y . ... . . . . . 100 Chariton to Chil~iootlle.......
15 Reu tals Vaid ..•. . ••.•.••
3,282,718
'alesburg to .Peoria... ... . . ...
52 Creston to Hopkms . .. .. . . .. . .
45 lute.rest on del>t . .. . ..•.. 2,1U8,HH.I 2,lnf>,972 2 ,110.038
441,690
3:G8,84.4
327,150 t 608,4:-!7
ates Uity to Lewiston .... , . .
30 Creston to Fontenelle. ........
28 Taxes ..... .•. ......••...
4c,3tHl,064.
. owiston to Rushville.·.· · . . . .
33 Red Oak to Hl¥f1l>urg . ... . .. .
40 Dividends . . ....•....... 2,479,715 2,212,827 .3,081,985
2:i0,493
563,385
~41,104
22::l,313
urora to Turner Junction...
12 Red Oak to Griswold . . . . . . . . .
18 Carried to sinking fund.
t 423,u8.'S
31,~
enevo. to Streator . . . . . . . . . . .
67 Burlipgton June. to Vill<lsca _ 35 Misoolla.ueous .... ..•... .
1,200:000
1,000:000 1,000,000
habbona to Rock Falls......
46 Hastmgs to 8idney . . . . . . . . . . .
21 TrBJ'.!BJ:"d to renewal f'nd
eridota to East Clinton . . . . .
62 Hwtings to Cariwn City......
16
10,106,763
uda to Elm wood . . . . . . .• . • • .
44 Albia to Knoxville . . . . . . . . . . . .
33 Total disbursem6Dta.... 5,319,284 6,351,244 7,354,438
Balance, lllll'plus......
381,01!>
235,~8-6
234,4,1[)
§ 1,9,21,69
alva to New Boston.... .. . . .
50 Knox'7ille to Des Moines . . . . .
3-5
eithsburg June.to Kcithsb'g
5 Leon to Grant City . . . .. . . . . . .
57
" Inoludes $899,315 net receipts B. & M. in Neb. land grll.llt.
ui·lington to C~h~e.......
30 Albia to Mor-av~a. . ··· · ····-·· ·
11
t Inoluding $264.656 1-'ll t ;.~es 1873 a.ud lt:j75.
artbage to Qwncy...........
40 Bethany Junct10u to Betlumy
29
t Balanoo of accounts wr1t.teu o.fl'.
terling to Alton Jnnetion . . . 260 Ple,ttsmouth to Kearney Juno.. 191
i ·.l. stoek diriu.end of 20 p. c. was declared, representfnit $6/.US.039
eveL June.to G1eveland, Ill.
2 Omaha to Orea.polis . ··-····..
17
ort B~on to Bock Isluru.1...
7 Crete to Bea.tI:ic~. .. . . . . .. . •• . .
30 ot a.ooum.ulJl,ted iru;ow.e surplua, re,.hwi.ag tlle aw-_plu.s 1>7 t.h.r.i alll.9Wlfi.
tngsJJ.!}til the amount reaches $700,000, with a minimum of $240,000
ear.-'·~m. stock, $1,293,000; pref. 1 $1,Q3i,ooo; V. 32, p. 176. Pref.
ck has prior rignt to anon-cumulative dividend not exceeding 7 per
from net earninge,, and (after ~ayment of 7 on c-om.) also shares with
. mon in any surplus. 312 paid on com. Nov., 1881. . T.4e La. & M,,.
ver is leased forl ;OO-O yearf! fromAu~. l . 1870. Rental, 35 p. c. of.gl'0,88
-rnings, but interest guaranreed on 2d mort. bonds and pref. stock as
ove; the other :pref. stock is $1,010,000 and com. stock $2,272,7v0.
e Cnic. & Ill. River R.R. was 801d in foreclosure Sept.; 1879, and pur•
ased by this company. The Kansas City St. L. & Chic. was opened
ough May 1, 1879. It wa.s built by the Chicago & Alton Company,
dis leased to said company in.perpetuity from November 1, 1877. at a
tal of 35 per cent of ~ross earnings, less taxes and assessments. The
nds are held by Unitea States fiust Company as soourity for tho C. &
bonds of 1878 issued to build this road, and a sinking fund of
·o,ooo per annum provided for their redemption. Should the 35 per
m; be more than sufficient to pay hond interest and 7 :per cent on
e stook the excess is to go to the lessees. The Mississippi R1 ver Bri<l,\$e
1 perpetuity from December 3, 1877 at a rental of $63,000, w
leased m
applied in paymeut of 7 per cent on $200,060 stock, aud 6 per cent on
00,000 bonds. New common stock (C. & A.) for $1·,000,uOo issued May,
80, see v. 30, p. 408. Prices of stock have been:
U ~:ir8.Lg u~L>..i~g
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8
·"·
I
I
•
Sobl,orlben will coft.fer a great CaYor by glYl.ng IDl.llledlate noUee oC any error d18eovered In these Table•.
DE8CRIPTION.
---------------------1
For explanation of column headings, &c., seo nott.8
·
·
on first page of tables.
Chicago Burlington ct Quinc1J-(Oontinued):Burl: &Mo. in Neb., bonds, convert. till J an., 1882
do
cousol.M.for $14,000,000, s.f. $30,000
do
Omaha & 8. W., 1st M., guar ....... . ...
Burl. & Mo. bonds, s. f. for Atch. & Neb. RR. stock
Nebraska. oonsol. mort., guar .....................
Republican Valley RR., bonds .. ............... ....
.Atchison & Nebraska. 1st mortgage ..............
Lincoln & Northwestern RR. bonds . . ..... .... ....
Kansas City St. Jo. & C. Bl., mortga~ ...........
·
do
do
income omls. reg...
Chicago tE OanadaSouthern-Ist mort., gold ..... . .
Olticayo Oincinnati cl; Louisville-1st mort .. .......
Ohicago Detroit cl; Oanada Grand Junction-1st M.
Ohic. &: East. IU.-6took .......................... . _..
1st M., coup. ,s. f. $20.000 after '85) ..............
2d mortgage income (non-cumulative) .. ..........
Extension, 1st mortgage ........ . ..................
<Jhicago cf: Grand Trunk-1st mortgage,$ and£ ....
2d mortgage, income ....... .. ......................
:Northwest. Grand Trunk, 1st mort ......... .. ..
fJhicar,o ct Iowa-1st mort., coup., may be reg .....
2d mortgage... . ................ .. .................
(Jhicago lowa
cf:
Nebraska-Stock .... ..............
2d mortgage (now 1st) .............................
·3d
do
(now 2d) ..•..•.........•.............
Oh~o Muwaukee a: St. Paiil--Com. stock ........
Pre erred st'ck (7 p. c. y'rly, not cmmuative) ......
Consolidated mortga~e (for $35,000,000). .. .. . . . .
let mortgage /Lacrosse Div.) . ..... )
{
2d mortgage ........................ Coup., but
1st mortgage (Iowa & Minn.)......
may be
lsj; mortgage iMinnesot.a Central). regist ered
1st mortgaE' (iowa & Dakota)... . by end'rse1st M.,Ia.& ak.Ext.($15,000p.m.)
m ent.
·1st mortgage (Prairie nu Chi en )...
l
I
r
.
INTEREST OR DIVIDENDS.
Bonds-Prino
Miles Date Size, or
Amount
- - - - - - - - - - - - - - - - - pal,When Du
of
of
Par Outstanding Rate per When Where Payable, and by Stocks-Las
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
ioi
49
iss
i49
274
67
73
59
123
123
14
330
330
6(3
80
20
82
82
82
1,729
1,729
. ...
370
370
220
49
. - -·
335
285
$157,000
8,105,400
1,034.000
3,347,000
1,828,800
2.504,000
1,125,000
1878 100 &c.
600,000
1880
4,495,522
1877 lOO&c.
2.488,174
100
1877
1,000
2,541,000
1872
1,000,000
1867 500 &c.
1,095,000
100
1859
3,000,000
100
3.000,000
1877 100 &c.
767,000
1877 100 &c.
J,000
250,000
1881
5,174,176
1880 £100&0
4,000,000
500
1880
654,656'
18SO 500 &o.
600,000
1,000
1870
1,150,0C.O
1,000
1871
3,916,200
100
220,000
i860 100 &c.
211,500
1863 500 &c.
100 21,404,261
100 12,279,483
1,000 10,133,000
1875
6,500,000
1,000
1863
1,000
387,000
1864
3,681,000
1867 .1,000
1,000
183,000
1864
582,000
1,000
5,03~,ooo
1,000
1878
1.000
8.674.000
1868
& J.
Boston, Office.
J. & J.
do
J. & D.
do
A. &O. Boston, N. E. Trust Co.
A.. & o.
Boston, Office.
6
. & J. Bost., 49 Bear's Build'g.
7
M. & 8.
Boston, at Office .
7
J. & J.
Boston.
·
7
J. & J. Boston and New York.
6
A.. & o.
Boston, at Office.
7 g. A.. & o. N. Y., Union Trust Co.
7
J. & J. N. Y., Farm. L. & T . Co.
6
J. & J.
London, England.
Jan. 1 , 188
July 1, 191
June l, 189
Jan. 1, 191
Oct. 1, 189
July, 1918-1
Mar. 1, 190
Jan. 1, 191
Jah. 1, 190
Jan. 1, 190
April 1, 190
Jan., 1887
J1;.ly 1 , 188'
J: ·&,-·D. New York; 4th.Nat. Bk.
Dec.
do
do
6
do
do
6 g. J. .&.J. New York and London.
7
Sept. N. Y., Company's office.
6
J. & J.
do
do
J. & J. New York and Boston.
8
J. & J.
8
do
do
4
J. & J. Boston, by Treasurer.
5
J. & J. Boston, Merell.ants' B'k.
F. & A. N. Y., Nat. Park Bank.
7
3¼ A . & 0.
New York, Office.
3½ A. & O.
do
do
7
J. & J.
do
do
J. & J.
7
do
do
A . & O.
7
do
do
7
J. & J .
do
do
J. & J.
7
do
do
7
J. & J.
do
do
J. & J.
7
do
do
F. & A .
8
do
do
Dec:·i'.-·i90
Dec., 1907
Deo. 1 , 193
Jan. 1, ·1 9
July 1, 193
Jan. 1, 191
Jan. 1, 1
Aug. 1 , 190
J an. 2, 188
J.&J.,1881-8
Aug.15, 189
Oct. 1 5,188
Oct. 15, 188
July 1, 190
1893
1884
1 897
1894
1899 .
July 1, 190
1898
8
6
8
4
7
1873 $500&c.
1878 600 &c.
1 ,000
1872
1,000
1880
1,000
1877
·,r7
11869
--;(V. ·31, p. 179, 228, 240, 259, 288, 381, 405, 428, 453. 588, 652; V. miles; La Crescent to near Babula, Ia., with branch~, 324 miles•
32, p. 15, 44, 121, 231, 347, 365. 541, 544. 658; v. 33, p. 124,201, Tomah to Jenny, 109 miles; Mineral Point to Warren, and branch, 5
mileH ; Chi~o to Lanark Junction, 115 miles; Sioux City to Yankton
224, 281, 305, 328, 384, 468, 559, 589, 622, 686.)
with branch, 131 mile.s; Minneapolis to Burton, 28 miles; from Bridge
Chicago cl; Oanada South.-Dec. 31, 1880, owned from Grosse Isle, Mich., water west, 80 rn.il!:s; and small branches, amounting in all to ' 10 ·
to Fayette, O., 67 miles. On Nov. 1, 1879, it was transferred to the Lake miles; total operated, 3,775 miles.
The Milwaukee & St. Paul Railroad Company was organized Ma
8hore & Mich. South. It has a. capital stock amounting to $2,667,400
and a bonded debt of $2,541,000, and owes upwards of $1,200,000 over- 5, 186::J, and embraced a number of other companies, including th
due coupons. Original cost, $5..,1.,176,557. It is a. 1nu:t of a proj ected line Milwaukee & !\Ui'dE,sippi, the Prairie du Chien, the Lacrosse & Mil
waukoo, and otHP·s. The Milwaukee & St. Paul n.fterward Pill'
l)etween Chicago and Detroit .t<.ive.r, but failed in 1873.
chased the St. Paul & Chicago Road and others, and built the lin
. Ohicago Oincinnati & LmtiS'Oillc.-Deo. 31, 1880, owned from P eru , from Milwaukee to Chic~o, and Ol'I. February 11, 1874, the compan
Ind:., to La Porte, Ind., 73 miles. Opened in 1858. It is a reorganiza- _took its pref.cnt name. In February, 1880, the Hastings & Dakot,
tipn of the Cincinnati Peru & Chicago, and forms a part of the line Railroad was :purchased, and in March and April the Chicago & Pacift
from Indianapolis to Michigan City. No informa tion is furnished by the and the Sioux City & Dakota. The Western Union Raih'oad was lease
in 1879 for 999 years, and the bonds ·were to be retired by the issue o
office.rs.
·
the Chic. Mil. & St. Paul bonds secured by mort. on that road. Of th
•Ohicago Detroit ~ Oanada Grana Junction.- Dec. 31, 1880, owned consol. mort. honds of 1875, enough are reserved to take up the prim
from Port Huron, Mich., to D etroit Juno., 59 miles. Opened in 1859. bonds, and any of the holders of those bonds (except the Iowa & Dako
I.eased to Grand Trunk of Canada. Operations, expenses, &c. included division) may exchange them for the consol. bonds. The latter had
:in lessees' returns. Rental-interes1i quarterly, $65,700, and divid ends, sinking fund of 1 p er oent per annum, but holders may have t heir bond
13emi-annually, each 2 per cent, $43,~00. Capital stock, $1,095,000. and stam11ed and discharged from the operation of the sinking fund. Th
funded debt, $1,095,000. The road is owned by the lessees, but a Southern Minnesota bonds were all to be exch anged for the bonds of thi
company secured on that line (see V. 30, p.e433), and the condition o
· separate organization is maintained ip. Michigan.
those bonds before consolidation may be se n in the SUPPLEME,NT o
, Ohicago d'; Ea1rtern Illint>is.-June, 18dl, owned from Dolton, Til., April 24, 1880. In Juu1, 1881. stockllolders authorized the issue . o
$5,000,000
new common 1,took, which was allotted to common and pre
to Danville, Ill., 107½ miles; Covin~ton, Ind., to Coal Creek, Ind .. 9
miles t,panville to Grape Creek, 7 miles; leased, Dolton to Chicago :t'erred stockholders of record on Sept. 20 at pa1·, to be issued Oct. 1
1881.
(C. & w. I.), 17 miles; Evansville T. Haute & C. RR., Terre Haute to DanThe preference of the preferred stock is a prior right to a non-cmnilla,-ville, Ills, 55 wiles; Otter Creek to Brazil, Ind., 14 miles; Danville, Ill.,
lO Covington, Iml., 13 miles. Evansville Terre Haute & Chicago l eased tive nividend of not exceeding 7 p er cent fl'Oru net earnings (except tha
lii.ay 1. 1880, for .$7::>,000 per year. The Chicago & East Illwois was $250,0UO above interest on bonds. may be reserved as a. working capital,
oharte1·ed as Chicago Danville. & Vjncennes in 1865 , and opened in 1872 before payment of the dividend.) After payment of 7 on preferred an.
and 1873. Sold wider foreclosure l<'eb. 7, 1877, and reorganized under 7 on common, both classes share pro rata. Prices of stock of the Chicag
existing style Sept. 1, 1877. Report for ten months to June 30, 188 1, Milwaukee & St. Pau.1 have been:
----Common.---...._ ,-----Preferred.--. .
in V. 3a, p. 411. Dec. 1, 1880, 4 per cent intorest for 1879-80 was paid
1880.
1881
1880.
1881.
op. income bonds. (V. 30, p. 91,221; V. 31, p. 327,451 ,510; v. 32, p.
January .. . . .
8012- 75 14
12414-10914
10312-10058
132 -122
437,500; v. 33,p.100, 411,502.)
.
February....
8158- 7614
11712-10119
104 1e-1021s
12612-117
853e- 7 9
1141s-106
107½-10314
1 26 -120·
. Chicago d Grand Tl·imk-This is the .oonsolidation of roads between Ma r ch.......
83 1e- 7538
113~-108
10538-102
1 2612-119
D.eti·oit and Chicago formed in April, 1880, unde:r the control of the April........
7 8 - 6612
129 -11258
10234- 99
140 -125
Qrand Tr~ of Canada; 335 m;leb operated. I t includes the former May.... . . . .
June.
..
.
.
.
.
.
8112·
6
8
12
12&14-120
106
997e
13534-132
Port Hurnn & Lak9 Michi~1ton and the Peninsula roads, sold in foreclosure.
89 - 73
12838-10712
110 -102
1 3814-128
etock, $6,600,000 iri $100 shares. '.rhe Grand Trunk of Canada p;ives a July.... ... ..
9114- 87
11614-llUls
112¼-108
1331.g-129¼
traffic gua.rantee . of 30 per cent of gross earnings on business w and August.... ..
951s- 87½
1223e-lll½x~p.114 -109¼ 13334-24~x p.
:from the North.w est Grand Trunk Road, to apply for 20 rears on the September..
11214-106
x121 -x091s
12412-116~
~rat mortg~ 9~ mter~t al;ld for 30 years on tho Northwest Grand Trunk October..... 10612-x91
November... 112 70-101¼
110 7e-1055e
124 -11758
12514-119~4
interest. ( v. 30, p. 322, 384)
December ... 114.¾-105
...... . .....
1241.g-119
Okie. cf Iowa.- June 30, 1881, owned from Aurora, Ill. to :Foreston, ru. An abstra-0t of the last annual report was published in the CHRONICLE,
SO miles; leased, ~lagg Centre to R 1.J1il"l d, 24 mile<'!; total operated, 104 v. 32, p. 466. Tlle follow1ug table allows the operations earnings, cap
miles. C Hr~nred rn 1~69 and opened in 1872. In bands of a Rooeiver for ital account, &o., for fow· years:
two ye,:1,n and a--haJf, and sold Mar. 9 1878, in foreolosur~ of seoond mort1877.
1878.
1879.
1880
g'.)ge of $1,150,000, but the sale and all foreclosure prooeectinl.( S were Miles opera.tied.......
1,4 12
1,512
2,359
3,77
eanceled and overdue coupons were paid. Gross earning,, for year
OPERATIONS AND rtSCAL RESULTS.
ending May 31, 1881, were $650,000 and net carninirs $350,000. Cap- Paasenger mlleage... 55,925,449 65,498,189 78,119,592 111,561,919
ital stock, $1,328,000, and funded debt, $1,750,000; total stock and Rate per pass. p. mile
3·21 cts.
3·09 cts.
2·93 ot-s.
2·84 cts.
bonds,. $3,078,000. Cost of road and equipment, $3,15~!)00- This road Freight (tons) mil'~o.271,598,133 321,818,902 401,595,734 504,876,154
:ia usoo by the Chio. Burl. & Quincy to connect with the .LU. Cent. (V. 30, Av. rate p. ton p. mile . 2·08 ct-s.
I
·80
cts.
1
·72
ot.s.
1 ·76 cts
p. 168;
31, p. 44, 122;
::i3, p. 99, 124, 321.)
$
$
$
$
Total gross earn'gs... 8,114,894 8,451,767 10,012,819 13,086,110
Ohicago Iowa t! Neb.-July 1, 1880, owned from Clinton, Ia., to Cedar Total opera~g. exp. 4,540,433 4,792,313 5,473,79-i 7, 42,425
Rapids, Ia. (all_s~l.>, 8~ miles. _Chartered in 1853 and opened in 1858.
Bndge over MiSB1SS1pp1 opened m 1856. Leased to Galena & Chie. Un. at
Net earnings ..... 3,574,461 3,659,454 4,539,025
3712 per cent of gross earnings, and now operated by Chio & Northw.; the
56·00
56·70
M,70
maximum 1·ental by subsequent agreement not. t-0 exceed $500,000 a P.c. of op.ex. to ear'g<i
year. Interest liability, $47~383, and dividends (10 per cent), $391,620;
INCOME ACCOUNT.
total :fixed charges, $439,00;:s a year. Capital stock, $3,916,200; funded
1877.
1878.
1879.
debt, $676,000; interest and dividend balances, $9,592, and surplus
Rueipf.8$
$
$
account, $341,894; total, $4,943,686. Per c011lra-Construction, $4,662,- Bala.nee January 1 ... 1,433,645 2,359,366
2,520,074
123, and cash and cash assets~ $281,563; total, $4,943,686. The fu-st Net earninis ......... 3,574,461
3,6a9,454 4,539,024
mortgage ha8 been satistied an.a canceled a.s of 1·ooord.
Other 1·ece.ipts ........ · ...............
13,430
74,517
v.
v.
O'fl:icf'lo Milt.0auku cE St. Patil.-Deo. 31, 1880, the following was
o'fflc1a.i.:.;· repo~i.ed a.a the mileage owned and operated Chicago to Milwaukee.{~ 5 miles; Milwaukee to -i-a Crosse, 196 miles; La Crosse to St.
Paul, 1;:st -~':8; Milwaukee to Prairie du Chien, 194 miles ; Milton to
Molll'oe, 4~ miles; North McGr~ior to St. Paul, 212 miles; Conover to
Decor~, 9 miles; l\fondota to .MIDneapolls, 9 miles; Calmar to Marion
Junction, 287 miles; ,4ustin to Mason City, 39 miles; Hasti~~s to Ortonville, 202 miles; Davenport to near Fort Atkinson, 153 miles; Watertiwn to Madison, 37 miles; Milwaukee to Portage, 98 miles; Mad9:m to Portage, 39 miles, Sparta to Melvina, 12 miles; Lisbon to Necedah, ·
la miles ; W a.baeha to Zumbx·ota., 59 miles; Horicon to Berlln and Win:aeconne, 57 miles; ·Ripon to Oshkosh, 20 miles; Sabula. to Cedar RaJ.>ids,
9,2 milM i Paral.ta to Fai·ley, 44 miles; Racine to ROOk,.Isla.nd, 197 miles;
Eagle to Elkhorn, 17 miles, a.nd Eldridge to Maquoketa, 32 miles; Gleneoo ·to Ortonville and beyond,. 206 wucs ; .1 . , 'Jrosse to Mamson, 375
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Total income .....
Disbursement.s-
----
Interest on debt .....
Miscellaneous ........
Divs. on pref. Btook *.
Divs. on com . .stook'..
Sinking fund ... ~ .....
Balance, sw·plus ... ·..
Total ........... .. .
5,008,106
$
2,162,159
4,034
429,607
2,359,306
6,032,190
7,133,615
$
$
2,135,730
2,287,407
32,040
1,289,346 ···s5i564
385,106
... 5i(ooo
70,000
2,520,07!
3,531,538
5,008,106
6,032,190
···5s",ooo
7,133,615
* A portion of these dividends on preferred stock was stated as payable
out of the earnings of the previous year as follows: ID 1877, $429,607 ;
in 1878, $859,564; in 1870. $429,781; and in 1880, $429 781.
·
t$96~931 pa.idoutJ( u.1i~•.!.J.JJi of 1870.
_ .
•
RAJL~OAD STOOKS AND BONDS.
D ~CEKBER, 188 L]
Subtlcrlben will eonCer a great Ca~or by giving lm.m.ediate notice oC any error discovered ln these Table..
INTEREST OR DIVIDENDS.
Bcmds..._Prm~i
DESCRIPTION.
Miles Date B1ze, or
Amount Rate fer When Where P~u.le, ·and by pal.WbenDne.
of
Par Outstanding
,:For explanation of column headings, &c., see notes of
Sloek,9-1.aet
Road. Bonds Valu-e.
on first page of t ables.
Cen • Payable
om.
Dividend.
Ohicago Milwauku
~.st. Paul-(Oontinued)-
l
- -. -
----
New York Offloo.
do
do
& J. London and New Yorll:.
New
York,
Offloe.
& J.
& J.
do
do
do
& J.
do
do
& J.
do
6
do
& J.
do
6
do
cio
& J.
6
& J.
do
do
7
do
do
7
& J.
6
& J.
do
do
do
do
& A.
7
do
6
.J. & J.
do
7
J. & J.
Boston.
5
New York, Offloo.
J. & J.
5 g. J. & J .
clo
do
A. & 0.
do
7
do
7 g. F. & A. N. _Y·a.fat. Par~:ank.
J. & D.
7
3
J. & D. New York, Co.'s Ottice.
VJ4
Q.-M.
do
do
7
F . & A.
do
do
M.&N.
do
7
do
7
F. &A.
do
do
F. & A.
7
do
do
F. &A.
do
7
do
F'. & A.
do
7
do
7
.T. & J.
do
do
1\-1.& 8.
7
d-0
do
d-0
7
J. & J .
do
Q.-F.
7
do
do
7 g. A. & 0.
do
do
7
J. & J.
do
do
J. & J.
do
7
do
235 1868 $1,000 $1,315,000
2~ mortgage (Pcai,ie du CWen) .•. ) Conp., bnt
1861
1,000
215,000
Milwaukoo &Western..............
may be
130 1872
4,000,000
St.P.&C.lst M.(Riv:D.)$&£(conv.) r einst'd by
121,000
75 1872
1:000
1st mortia.ge, Hastings & Dakota. } end'rsem.'t
1st M., C ic. & Mil. llne . . . . . . . . . .
' l
1,000
2,500,000
85 1873
2,50@,noo
Bonds for D avenport & Northwest RR . ... ........ 1 60 1879
lat mort. cm 8. W. Div. Western Union RR .... . .. 212 - 1879
1:000
4,000,0 00
1,00)
1st mort. on Chic. & Pac. Div., Chio. to Miss. Riv . . ... . 1880
3,000 ,000
1st mort. on So. Minnesota Div. ($9,000,000) .... 540 1880
1,000
7,000,o00
:r,;~,000
Land :rrant income bonds ....... .. .......... . .. ..• .
1,000 5,29-1,000'
1st mort. on Hastin~s & Dakota 1J1v ........ . .. .. i58 i&s·o
1st mort. on Chic. Clinton Dubuque & Minn .. .... 300 1880
1,000
6,000,000
1st old mort.
do
do
...... 2W 1879
4.00.000
107
1st m ort. on Wisconsin Valley RR .......... . ..... 107 1880
1.700.000
107 1879
500
1,10:1,965
Pr1ormort.
do
1,000
2,160,0 00
1st mortgage, Mineral Point Division: ::::::: : ::::
99 1880
4,~oo,ooo
Chic. & Pac., West. Div., M., gold, $20,000 p. mile 2.:io 1881
1,000
do Dubuque Southwestern, 1st mort ...........
4 7 1863
1,000
780,000
1,000
60(',000
do S. City & Dak. , Dak. So., 1st M., ~oup., s . r.
61¼ 1874
1,000
do
do
Sioux City & P~mbina, 1st mort.
800,000
53 1878
100 14,988,257
Chicago dl Northwestern-Common stock ........... 2,15,1
.....
100 21,525,352
Prefened st'ck (7 p. c. y'rlJi not cumulative) ...... '2,154
Bonds, pref. (sillk'g ftmd), st mort., Chic. to Osh. 193 i859 100 &c.
971 ,-t00
676,300
Interest bonds, ftmd~d coup., 2q. m., Chi~to Osh. 193 1862 100 &c.
3,4-!0,300
1st mori. , general, 3d mort., Chic. to Os osh .... 193 1859 100 &o.
Appletou exten., 1st mort. on 23 miles and land . .
23
.... 500 &c.
116,000
26 1862 500 &c.
180,000
Green Bay exten., 1st mort. on 26 miles and la nd
1,000
1,632,000
1st mort ., Galena & Chicago Un. RR. extended ... 248 1853
1,000
153,000
Mississippi River Bridie b'ds, lien on net earnings
1,000
261,000
1st mort. (Peninsular R.) on roads and lands ... ·;.;,i i863
246,000
1,000
lat mort~age (Beloit & Madison Rallroa d) ........
46 18G3
1,000
5,2'.22,000
Consol. srnk'g f'd Mortg . ........ . ............... . .. 779 1865
3,150,000
Madison exten.aion, 1st mort., sinking fund, gold. 1 26 1871 500 &c.
1,000
1,700,000
Chicago & Milwaukee, 1st mortgage, 2d lien ... .. .
85
....
. Menominee River.1st mort., guru·. .... ... . . .. .....
25 i876
560.000
~
7 ·3
7
7 g.
7
7
5
GENERAL BALANCE .AT CLOSE OF EACH FISCAL YEAR.
.Asset$-
1877.
1878.
1879.
$
$
$
$
Total.... . . . . . . . . . . . 60,562,205 63,083,910 74,066,074 103,313,644
$
$
$
1898.
1891
J8t~902
1903
1919
July 1, 1909
Jan. 1, 1910
·Jan. 1. 1910
1890
Jan. 1, 1910
July 1, 1920
Feb. 1, 18S4
July l, 1920
Jan. 1, 1909
1910
Jttn. \ 1921
Oct., 883
·Feb. l, 1894
June l. 1908
Deo.28, 1881
Deo. 28, 1881
Ang. 1, 1885
Nov. 1; 1883
Aug. 1, 1885
Aa.g. 1, 1885
Au~. 1, 1885
Feb. 1--, 1882
Jan. 1, 1884.
Sept. 1, 1898
J an. 1, 1888
Fell. l, 1915
April 1, 1911
July 1, 1898
Jal,y 1, 1906
LAND OOMlUSSIONER'S REPORT.
1880.
Railroad,equipm't,&c 56,886,833 59,001,257 63,399,448 99,185,083
.Stooks owned, cost .. · 1,51 5, 7 50 i 2 469 096
7 133 028
2,163,567
Bonds owned, cost...
353,1715 '
•
•
'
:Bills&aco'tsrec'vable
1 6 1, ti53
185,610
483,604
783,992
Materials, fuel, &c. ..
19U ,186
133,127
385,971
564,715
Cash on hruid . . . . . . . . 1,181 ,047
976,160
801,694
382,951
Daven. & N'west RR. .... .. ..... . . ..........
1,750,000 ........... .
264,565
318,660
112,329
232,736
.~fiscellaneou.s items..
Liabilities-
F. & A.
& J.
J.
J.
J.
J.
J.
J.
J.
J·.
J.
J.
J.
F.
$
Stook, common . .. ... ·. 15,404,261 15,404.261 15,404,261 15,404,2G l
Stock, preferre.d. ..... . 12,279,483 12,279,4B3 12 ,279,483 12,401,483
Bonds ................ . 29,954,500 32,088,500 41,349,500 . 67,172,000
200,0!19
All other dues& acc'ts
789.927 :l,067,165
3o5,~'.F
2,520,v,4
Income o.ccount .. . .. . 2,359,306
3,531,538
4,3-l3,283
Unpaid pay-rolls, &c.
364,556
484-,715
711 ,365
l,O-trl,541
Advances ........... .
........
~73,911
Total liabilities ... 60,562,205 63,083,910 74,066,074 103,313,044
- (V. 31, p. 44, 56, 94-. !.52, 3 2R , 483, 535, 4 45 , 558 ; V. 32, p. l!'i5,
183, 20 · . 28-l, 3 f'7, 433, 45'1 , 466, 569, 635; v. 33, p. 254, 411, 441,
51 01 559, 580, 589, 641, 687.)
Tho quantJty of .land.a sold from varioua grants was a-a follows: From
tho Minnt-S-Ota graJ?-t, n q,555 aores; from the Miohi~an gmnt, 51,598
acres; from the W1soonrnn grnnt, 6,533-acres-; and from the Jifeoomine&
River g-rant, 17,529 a.ores; total sales, 192,~l 7 acretl. Tbere were Rlao
sold 75 0¼ lots from the grauts· a.nd ln.nds that were pla.tted and la.id otd;
for town sites at different points along the now lines of road. The total
collfil.deratlon received in cash nud contract obliga.idone for I.o.uds and
lots sold aU1ounted to $6-l6,9J7. The number of acres actually deeded
during the year was 114,539; and t he number of acres at tha end of the
y ear contracted to be sold was 284,116. The moneys received from
eash sales n,nd advance payments amounted to $368,::169; from instalment paymru1ts on time sales, $14.-8,638; from aocrue.d. interest on oon tracts, $36,6'78; and from :>1.t oellanoous oo~lectiona. trespass, stumpage •
ou timuer lauds, &c., $7,:-WB; total roooipts, $560,99i.
TABLE Oli' LA.ND GRANT' LA.NOS FOR YEAR ENDING HAY 31, 1881.
Acres
Aorea
Acn-,g not
Ae.re.s
acquired
deeded
Aorea
deeded nr
Name of unoonveye.d. during
<luring
under
oon.tract<-.d
Land grant. Ma,y 31,'80.
yen.r.
year.
contract. t o be sold.
Minnesota ... . 1, 122,305
267,096
59.710
232,1:16 / 1,097,553
Michigan . . . . . 583,186
.. . ... ..
32,4110
4.6,226
i'>0-4,559
Wisoousin . . . . 351,40:.?
9.077
1,454.
~4.0.870
Mtin. }:{iv. RR.
92,090
13,349
4,299
107,932
'!'otal ..... 2,148.98-1
300,f>Sg
11-1,539
234,116
2.0.}0,91'f
An abstraot of the last annual report, in the CURoNrcr.&. Y. 33, p. 199.
Chicago d Northwestern.-At the encl of the fiscal yoar, May 31, 1881 , showed t.l.IB followin~ earnings, expe.n.ses, &o., for the whole line, inolad-
t,b e mileage was mado up in the annual report a.a follows: Wisconsin
Division, 329 miles; Galena Divis.ion, 31a miles; Iowa Divis.ion, 496
miles; Madison Division all(]. Extension, i27 mile.s; Peninsulu. Division,
274 miles; Milwaukee Division, 85 miles; total Chica.go & Northwestern
Railway, 1 ,725 miles. Proprietary roads: Winona & St. Pctor Railroad
and branohes, 662 miles; Iowa Midland Railway, 7 1 mile.a; Nortuweatcrn Union R:i.ilway, 63 miles; Toledo & North we.stern. sa milca; Bheboy•
gan & Western Division, 78 miles; Milwaukt:e ~;; Madison lJivisiou , l:J2
miles; Iowa. Railway Con.l & l\Ianufacturiug Co., 3 miles ; total proprietary roads, 1,051 miles. Total miles of Chicago & Northwestern
and proprietary roads, May 31, 1881 , 2,778 miles.
1
.rhe Chicago St Paul & Fond-d.u•Lac Railroad, wJaich was a oonsoli•
dation of several roads, was sold ill foreclosure Juue 2, 1859, a.n<l the
Chicago & North western Railway was or_ganized ns its succesaor with a
mileage then of 193 miles, not ull complete. In 1864 the compauy
absorbed the D ixon Rock. & Kcnoshat the Gal. & Chic. Union and the
Peninsula RR. of Mich. In 1878 the Lacrosse Tremp. & Prescott RR.
was also consolidated.
The progresR of the company in mileage, traffic, earnings &c., is bost
sho-wn. in the comparative tables below. Quarterly dividencis were commenced on the preferred stock in February, 1879. The sinldng- fund
bonds of 1879 a.re secu.re.d. by a deposit of mortgage bonds. on tlie new
Lroad1, a0qnlred at tlte rate of $15,0-00 per mile, aud the terms under
wh ich these are issued w re published in V. 2U, p. 277. '.rllc ueed sets
fo1th t llat this company issues its sinlring fund uonds, to run 5u years
:frnm the 1st day of October, 1879, interest not, exceeding (i per cent,
and in amounts not excoellin~ $15,0uu per mile o t raih·oad actually con1,tructed or acquired; $2,400,000 of which are to be issued for the pur•
pose of enabliu~ it to execute its several contract-a with the several
railway oomparues wentioned in the cieed, being at the rate of $15~0uo
per mile o r the railroads to be so added to ita general system; n,nu the
residue of said $15 ouo.ouo of bonds may be i~ue.d. from time to time.
,as said first party s hall determine, only for raih'oads to be built, or in
other manner acquired for the sole IIBe and benctit of said first party,
and not to exoeed in amuunt $ 15 000 per mile of road so built or a.cquire.d. and ready for opera.lion. hef.,rred stock ha prior right to 7
per cent; then common entitled to 7; then preferred haR a further prior
1•ig_ht to 3 per cent ; then common to 3 ; then both classes sha.r c.
· The prices of stock have been 118 follows:
,---Common.--..
,---Preferred.~
1880.
1881.
1880.
1881.
January.....
9212- 89
136 :12314
10734-10414
147¾t-139 7 e
February....
9334· 88¼
13-114·117
10714-104.
145 -1:n1a
March... . ...
97 - 9 1¼
125¼--119
ll0¼-106¼
138 -13134
April .. ..... .
97 -9:lla
l';!-!. 7 5-1 1914
1101:.1-107 75
137 -1::il¼
May...... .. .
935s· 87¼
13iJ -124~
109:ls-105¾
146 -1~7¼
June.... .....
951-1- 87 75
1323a-xl243a 110 -107
144 -137'-2
JuJy. . • •. • • • • 9918- s-; 15
13175-1 21
116¼·10758
145 -136
August. . .... 10175- 97 1 8
1270s-122
125¾-11518
140 -1~'5¾
September... 106 • 99 14
127~-12~!4
126¼-118:t:i,
140 -135¼
October . . . • . ll 73a-105
126¼-1207 e
14214-1~2¾
13618-131½,
November... 130 -111 ¼
1303a-123¾
14.6¼·134
144 -13514
December ..• 129¾-117¾
..• . ....... 14514-136¼
..• •.•... ...
· Tbe company h as a land grant and the summary of the Oommissloners'
re1wrt showed that in 1880-:H 192,tl7 a.ores and 750 lots were d:l.spoged
-of for $64:6;90'7, the average price of each lU're sold being $3 07. - 'l'.Lle
lands on h.ti,nd May 81, 1881, not deeded or contraoted were ~,050,917
~ •Cl'e8,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ing propriet:u-y roads :
OPER.A.TIO:-l°S L'lD FISCAL RESULTS.
1877-8.
1878-9.
1879-80.
U~S0-1.
Pa&!engers oarrle.d.... 3,416.413
3.3~8,427 8,964,798
4,482,al 7
Passenger mileage ... 1 .. 8 877,406 116,06H,482 U0,1 W,8 8 4 164,3:i3,608
12·83 <'ts .
Rate per pa.ss. p. mile
2·79 c tR.
2·67 cts.
i•5H ota.
Freight (tons) moved 3.91 1,2431
4,2<.15,~•3 7
5,574,635
6,662,11~
Freight ( tow) 1uil'gc.623,768,593 681, 87~! 311 8U5,909,54.~ 980,522,'7"7-t
Av.ratep.tonp. mlle
1·72ots.
1-f>oota.
l·-l9ot6.
1·47ots.
Earn•n.us$
$
$
$
Po..s8enger.... ........ 3,366,679
3,240,096 3,737,343
-4.,1!18,130
Freight ..... . ....... 10,754.,Hl8 18,037,368 12,.897,778 14.,H4,151
Mail, express, &o. ...
630,216
70:t,857
7 L4,2i8
7 tH, 791
Operatwnr.-
Total gross earn'ga . 14,751,063 14 ,580,921 17,349,3-19 19,334,0-72
7,349,G53
Operating expenses .. 7,260,119
8,049,~l 58
9,979,'0to
360,827
357,096
'l'axos . . ...... . ........
382,~l
446,202
Total. ............
Net earnings .......•.
P.o.of op.exp. to earn.
7,620,94U
7,130,117
51·66
7,707,649
6,873 ,272
52·86
8,431,599 10,425,821
8,917,750
8,908,251
48 ·59
63·9~
INOO~lE AOOOUNT.
18-;7-8.
$
7,130,117
"RecelptS:Net earninp;s . ....... .
DisburstmWtUSRentals paid ..........
Interest on debt . . .. ..
Dividl:'ndB ... . .......
Sinking fuuda ........
Miscellaneous . . .....
1,213,219
3,339,19 5
1,956,034
113,120
95
Total disb'rsem'ts
Balance, surplu.a .. ...
6,621,663
· 508,454
$
1878-9,
$
- 0,894,288
1879 80.
$
1880-81.
8,9 17,750
a.ooi,251
l,4J,003
................
8,:j22,015
2,-!05,521
98,120
9,442
l,884,73!J
8,647 ,.89'1
2,420,278
U8,120
6,691,513
202,770
7,243,101
l,tl74,649
7.661,022
1,367,2:.::9
$
1,225,732
3,261,793
2,105.868
98,120
$
. ........
l}ENERAL BA.LL~CE AT CLOSE OF FISCAL YEAR.
Assets.
.
1880-81.
RaJlroa.d. buildings, equipment, &o .................... . .... $122,43 l.58.'-3
Real estate in Chica.go.......................... . ......... . . .
200.000
Dea Moines & Minn. Railroad aocount . . . . . . .. . •• . . . . . . . . 363 ,809
Bonds owne.d..... ..... ... . .... . . ....... ... ....•......... . ..••
l,23;:J,235
BIHs and accounts reoeiva.ble. .... . . .. .. • . . .... .. . ••. .• . .. ..
1,125,779
Materials, fuel, &c . ........... . ..... ........ .. .. .. ..... - ~·.. .
1,255,098
Cash on hund . ............ . ........ . .. .. ...... . .-.. . ... ...... .
l,~77,865
Trustee.;' sinking fund .... . ........... ..•·•.....••...• ..... ...
1,117,000
Total. ......... . . ...... .. ... ...... ... .. .. ......... ........ $129,704,309
Liabilities.
Stock, common (leas amount hcld by oompany) ..... . . . ...• $-15,093,48S
Stock, pre.fened (less amount held by company) ... . .. .- .. . ~1.650,783
91 ,244.,650
Stocks or pro~rietary roads, .&o .....••..... ~ ............ . . ..
Bonds, including live bonds m slnhing fund ..... . . . . ... .. ·. .
1>7.006,000
863,000
Bon.dB purchased ......... . ........ . . .... . .-........... : ..... .
831,481
Divideuda deola.red, not yet due ................. . . . ...... ..
11-
Inolt1dlng ~500,000 t o be issued for La O. Tremp. & P , swek, J
RAILROAD STOCKS AND BONDS.
xxiv
YoL.
x:x:xm;
Subscrlben W':lll confer a great favor by gtTlng Im.mediate notice of' any error dl•coYered In theae TabJe8.
INTEREST OR DIVIDENDS.
.lionas-rrwo1
Milel!I Date Size, or
- - - - - - - - - - - - - - - - - - 1pal,When Due
of
of
Par
Rate per When Where Payable, and
Stocks-Last
Ro~-- Bon~ Value. . _ _ _ _ _ I Cent. Payable
Whom.
Dividend.
DESCRIPTION.
out1r~'1£tg I
For explanation of eolumn beadings, &c., see notes
on first page of tables.
Ohicago ~ Northwestern-(Oontin-iud).M@nominee extension, lat mortgage, gold........ 120 1871 $500&c. $2,700,000
t':km. cons mort., gold, coup. or reg. ($48,000,000) l,058 1872 500 &c. 12,343,000
Winona & St. Peter, 1st mort., guar by Chio.&NW. 137 1870-1 1,000
2,547,000
do
2d mort., guar. by Chio. & N. W. 137 1870-1 1,000
1,610,000
do
lstM.exten.,gld,land~ .• a.f .. 175 1871 100 &o.
4,255,000
Iowa Midland, 1st mort., guar. by Chic. & N. W. .
75 1870
1,000
1 ,350,000
Northwestern Union, l~t mortgage, gold.........
62 1872 500 &c.
3,500,000
Minnesota Valley, 1st.mortgage...................
2·4 1878
....
150,000
Rochester & No. Minnesota, 1st mortgage.... .. ..
24 1878
....
200,000
Plain View Railroad, 1st mortgage. . . . . . . . . . . . . . . .
15 1878
....
100,000
Cbio~o & Tomah, 1st mort., guar................. . .. .
....
....
1,5~8.000
Jililwaukee & Madison. 1st mort., guar . ........ ... . .. .
. ...
.. ..
1 ,600,000
Sinking fund bonds ($15,000 per mile) . . . . . . . . . . . . . .. . 1879
1,000
9,845,000
Oh:icayo Pekin ti: Soitthwestern-lst mortgage.. . ...
96 1871
1,000
1,000,000
()hie.Portaged: Superior-1st mort., gold... .... ..... . ... 1881
1,000
· (1)
{}fei.car,o Rock Istandcf: Pac.-St,'ck (for$50,000,000) l,34.8
100 41,960,000
1st mortga~e, coup. or reg... . . . . . . . . . . . . . . . • . . . . . 636 i877 1,000&'.1 12,500,000
Chic.& Soutuw., lstM.g. (g-'d h.1 cm·. by C.R.I.&P.) 271 1869 100 &c.
5,000,000
()J.ic. St. Louis cf: ,V. 0.-lst M. (N. O. J. & G. N.). .. . 206 1856
1,000
2,84.8,000
2d mortgage, (N. 0. J. & G. N.).... .. ..... .. . . . . . .. 224 1860
1,000
1.487,000
lat mortgage,.(Miss. Central) ($100,000 disputed) 185 1854 500 &c.
338,000
2d mortgage,
do
($500,000 disputed) h:l5 1865 100 &c.
1,536,000
Chic. St. Louis & N. 0. 1st mort......... ..... ... ... 567 1877
1,000
1,421,000
do 2d mort .. .. ......... .......... . 567 1 877
1,000
1 8 1,000
do
do
do cons.M., gld.(for$18,000,000) All. 1881
1,000 10,189,000
100 17,20.'>,833
6hie. St. Paul Min/polis <f Omaha-Common stock.. . .. .
100
9,848,333
Preferred stock............ . ... . .................... . .. .
1,000
7,255,000
Co~sol. mortgage (for $30,000,000) . .. . . . . . . . . . . . . . .. . 1880
Chi('. St. Paul & Mmn., 1st mort., gold, coup. ..... 177 1878 500 &c.
3,000,000
do
do
1. gr. M., inc., coup. (2d on road) 177 1878 500 &c. i-50,000
North Wisconsin, 1st mortga.go.... .. . . ... . .. .. . ... 120 1880
1,000
800,000
St. P. &Sioux City, mort., /?Old, for $7,000,000. .. . 605 1879
1,000
6,045,000
....
334,800
St. Paul Still_water & To.ylors' Falls, 1st mort .... · I 23 1879
Hudson & River Falls. 1st mort . . ................. ; 12 1878
....
125,000
by
7 g. J. & D. New York, Co.'s Office. June 1, 19ll
Dec. 1, 1902
~ g.
~~
Jan. 1, 1887
7
l\I. & N.
do
do
Nov. 1, 1907
7 g. J. & D .
do
do
Dec. 1, 1916
8
A. & O.
do
do
Oct. 1, 1900
7 g. M. & S.
do
do
June 1, 1917
7
A. & 0.
do
do
Oct. 1, 1908
7
M. & S.
do
do
Sept. 1, 1908
7
M. & s.
do
do
Sept. 1, 1908
6
....
do
clo
6
. ...
do
do
i·,. 'i929
5 & 6 A . & O.
do
do
7
F. & A. N. Y., Farm. L. & T. Co. Aug. 1, 1901
6 g. J. & J.
New York.
.Ja.u. 1, 1921
. 1~
Q.-F . . New York, Co.'s Office. Feb. 1, 18!:!2
6
J. & J.
do
do
July 1, 1917
7
M. & N.
do
do
Nov., 1899
8
J. & J. N. Y ., 214 Broadway.
July 1, 1886
8
A. & o.
do
do
Oct. 1, 1890
7
M. & N.
do
do
1884 or before
8
F. & A.
do
do
1886 or before
7
M. & N.
do
do
Nov. 1, 1897
6
J. & D.
do
do
Dec. 1, 1907
New York City.
5 g. , .T. & D.
June 15, 1951
J: i ~:
a~
Oct:.
--i~
Q.:.:.j_
::::::::::
6
J. & D. N. Y .. 52 Broadway.
6 g. M. & N. N. Y., Corn Exch. Bank.
6 g. M. & N. N. Y., 52 Broadway.
6
J. & J. N.Y., R. P. Flower & Co.
do
do
6 g. A. & 0.
7
J. & J.
do
do
8
J . & J.
do
do
Jan:
19: .i88 2
June 1, 1930
May 1, 1918
May. 1898
Jan. 1, 1930
April 1, 1919
J11ly 1, 1901
July 1, 1908
I
Sinking funds paid . .......... .... . .................... .... .. .
Real estate, mortg~es. &c ..••........................... ...
Current bills, pay-rolls. &c .....................•... _...... .
lJncollected coupons, old dividends, &c ...... . ..... .. ... . .. .
Aooi11ed renta.ls of leased roads in Iowa, not yet due ..... .
General consolidated bonds unsold .. .......... ............ .
Accrued interest, not yet due .. . .......... ... .... .......... .
Misoollaneous . .. .. ........... . . . . . . . . . . . . . . . . . . . . . . . . ..... .
:Balance income account ................................... .
.
1880-81.
$1,117,000
482,766
2,529,39(1
63 ,78G
272,232
530,000
675,430
310,376
7,533.987
Total ................. ... ... ........ ......... ... . ......... $129,704,369
The following table will show tho total miles operated (including proprietary roads) the gross earnings, net earnings, surplus above annual
eharges and dividends paid, in each fiscal year since 1876-7 :
Surplus over Dividends
Gross
Net
interest,
paid.
. Average
Years.
Miles.
Earnings.
Revenue. rentals, &c. pref. com.
1876-77 .... 1,993 $13,033,102 $5,507,001 $1,078,227
212
1877-78 .. .. 2,037
14,751,062
7,130,117
2,464,488
7
3
1878-79 .... 2,129
14,580,92l6,873,272
2,287,627
7
2
1879-80.... 2,216
17,340,349
8,917,750
4,080,167
7
6
1880-81.. .. 2,644
19,334,0'72
8,908,25 1
3,777,502
7
6
31, p. 94, 152,202. 2t8, 428,535,652; v. 32, p. 233,611,636
v. 33, p. 199, 322, 404. 467, 559, 580, 587.)
·
Chicago Pi;7dn tf: Soitthwcstern.-July 1,1880, operated from Pekin, Ill.
to Mazon Bridge, Ill., 94 miles, of which 6 miles leased. Chartered in
1859 and opened in 1876. Receiver appointed in June, 1877. Sold
nuder foreclosure of second mortgage May 31. 1881, and to be reorgan•
i~d. For 21 months ending May ::n, 1881, g-ross earninA"S were $654,098; Dflt, $193,34.0. (V. 31, p. 152, 381, 405, 453; v. 32, p. 312, 526,
£12,658,685; v. 33, p. 124,328, 587.)
fJhicago Portage tf: Superi<n-.-This road is prQjected from Chicago to
euperior, about 407 miles, with a land grant in Wisconsin under chapter
1 26 of tho laws of 1874. The total amount of the mortgage is $10,200,000. Wm. H. Scllofield, PreBident, N ew York. (V. 32, p. 636; V. 33,
p.467.)
·
Ohicago Rock Island dl Pacific.- This was a consolidation June 4,
188J, with $50,000,000 stock authorized, and a scrip dividend of 100
per cent to the holders of Chic. R. I. & P. stock Ma r. 31, 1 881. The lines
were given as follows : Chicago, Ill., to Council Bluffs, Iowa, 500 miles;
South Englewood to South Chica"'o, 712 miles ; Wilton, Ia., to Knoxville,
128; Washington, Ia., to the Missouri River opposit e L oavenwortll,
271; Edgerton Junction, Mo., to the Missouri River opposite Atchison,
29; D«:5 Moines, Ia. to Indianola, 2112; Somer!>et Station, Ia_., to Winto~eet, 2612; Newton, 1a., to Monroe, 17; Atlantic, la., to Le""11s, 9; L e wis
to Griswold, 14; Avoca, Ia., to Carson, 17; Atlantic, Ia., to Audubon,
25; total owned, 1,052 miles. Leased: B~!icauJunction, Ill., to Peoria,
47; Keokuk, Ia., to D es Moines, 162; Yurt Leaveawortb, Kan., to
Leavenworth, 2; Avoca, Ia., to Harla n, 12; Guthrie Station to Guthlie
Centre, 15; Cameron, Mo., to Kansas City, 54; Mount Zion Station, Ia.,
to K008auqua, 412; total leased, 296; total owned and leased, March 31,
1~81, 1 1353 . miles. This comp~y incluq_es the former Mississippi &
Hissoun Railroad of Iowa, which was foreclosed under mortgage in
1866. The Illinois l;l'nd Iowa roads w:ere _c onsolidated August 22, 1866,
under the present title, and the mam lme was extended to Council
:Blufl.'s June, 1869. The Iowa Southern & Missouri Northern was fo11nerly the· Chicago & Southwestern, and was loroolosed and purchased
by this company, and consolidated Juno, 1880. The :fl.seal year ends
March 31 and the last r eport was in V. 32, p. 684.. The mileage~ earnings, &c., have been as follows for five years pU,iit:
Passenger
Ton
Gross
Net
Div.
Years. Miles. Milea,..<>e.
Mileage.
Earning-s.
Earnino-s. p.ot.
1876-7.. 707 60,634,585 337,135,683 $6,917~657 $3,349,364 8
1877-8 .. 1,003 62,098,473 370,436,382
7,895,870
3,511,356 8
1878-9 .. 1,231 62,811,574 510,859,804 '9,409,833
4,329,960 8
1879-80. 1,348 82,610,900 686,458,954 11,0tH,663
5,265,116 8
1880-81. 1,353 93,769,305 746,573,664 11,956,907 5,326,752 714
Income and disbursements for four y ears were _a-s follows:
-<v.
INCOME ACCOUNT.
1877-8.
Total income._ •. .... .
Disbursements-
Rentals paid ........ .
Interest on debt ..... .
Taxes . ............... .
Dividends ........... .
Sinking fund ........ .
Legal expenses ...... .
Miscellaneous ....... .
$
3,793,584
$
125,000
1,002,325
247,400
1,678,384
40,000
34.827
* 557,148
1878-9.
$
5,588,058
$
1379-80.
$
5,945,388
$
1880-81.
$
6 ,177,901
$
125,000
1,008,580
218,155
1,993,085
135,037
1,078,110,
295,841
2,097,988
322,137
949,700
288,873
2,727,387
·4ti17
'34:426
·35:000
* Represents Pacific Hotel stock and bonds and $42,777 connecting
railroad and· other bonds, previously ~iven in capital account, and disappears from both accounts in folio-wing year.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Add. and imp. acc't.
Balance, surplus ....
Total . ............
1877-8.
$
1 $ 78-9.
$
108,500
2,202,121
------
3,793,584 t 5,588,058
1 879-80.
1880-8 1.
$
$
.... ....
~.285,000
2,303,986 df. •430, 196
5,954,388
6,177,901.
* The d eficit m balance is on year's operations; there is a nominal
snrplus from prior accumulated income of $238,202, again st a surplus
March Jl, 1880, of $8,571.433, the amount being reduced by trnnsfe1Ting to capital account $7,903,038.
t In the report Iowa Southern & Mo. Northern stock, held in trust$4,230,696; but is not included h er e.
The last annual report, in the CHRONICLE, V. 32, p. 684, h ad the follow ing as to the land grant: "For the fiscal year ended March 31, 11381,
t,he conveyances and contracts to convey lands acquired under the land
grant a.eta of the United States amounted to 94,452 acres, for a total
consider ation of $ 7 81,261. Of the above, 595 acres were m erely quitclaimecl, there beiog opposing titles under the swamp land grant, for
which $744 was r eceived. The regular sales thus w ere 93,857 acres , for
$780,517; the aver age JJrioe per a cre being n early $8 31½,.''
~
•
*
"The amount received f or interest during the year was $91,451. The
bills receivable amounted on 31st of March, 1881, to $1.535~621, an
increase dnrrng the year of $331,995. The taxes paid (on land unsold,
N.ov. 1, 1880), were $24,687. The remittances from sales and collections
to tho Treasurer of tlle company at N ew l'.ork amounted to $490,000.
There r emainea unsold on April 1 , 1 881, of the lands certified, 125 ,145
acres." (V. 31, p. 228,453,558; V. 32, p. 4.4, 265,367,437, 55i, 577,
684; v. 33, p. 13, 357.)
Chicago St. Lo·u is d': New Orleans.-Aug. 18, 1881, owned from N ew
Orleans, La., ·to Cairo, Ill., 549 miles ; bra.uch: Kosciusko Junction,
l\fiss., to Kosciusko, Miss ., 18 miles ; leased, 5 miles; total operated,
572 miles. This company was formed November 8, 1 877, by the consolida,t ion of the New Orleans J ackson & Great Nor thern and the
Central Mississippi. The N. 0. J. & G. N. road h ad been sold in foreclos ure March 17, 18 77, and the Mississippi Central was sold August 23.
1877. This company is controlled l>y the Illinois Central, which holds
$ 6,670,000 of the stock. The stock is $10,000,000. Of the fl.mt mortgage bonds, $1, 541,000 are a prior lien on that portion of the road in
'.rennesseo. T he Chicago St. Louis & N ew Orlean s 2d mortgage bond,.
a r e incom es until Dec. , 1882, after which they draw inter est at 6 p er
cent. Of the l\1iss. Cen. bonds $600,000 are claimed to have been paid
and are disputed by the present. compa.ny. Thn con ol. 5 per cent rum-tga.g-c lJonds of 1951 are t-0 be issued only for r ed emption of pi·ior bonds,
and their issue does not increase the d ebt. which is limited to
$18 ,000,000. In 1 878, gross earnings, $2,819,018; not ea,r·nings.,
$818,723. For 1879 no figures are given. fn 1 880 gross earniug.s
were $3,711,000, but no details of opera.ti ons in the past tw0 years are
made public. (V. 31, p. 191, 216, 405; V. 32, o. 183. 205, 288; V. 33,
p. 46, 73, 1 53. )
Chicago St. Paul 1fi,nn. & Omaha.-The mi<l.eage January 1, 1881, was
as follows: Eastern Division-Elroy to St. Paul, 198; River Falls
Branch, 12; Menominie Railroad, 3; Stillwater Branch,~
Northern
Division-North Wiscon sin Junction to Cable, 120. St. P aw DivisionSt. Paul to St. J amel'!, 122; Blue Earth Branch, 44. Sioux City Division-St. James to Sioux City, 1!8; Sioux Falls Branch, 98; Black
Hills Branch, 44; Rock River Branch. 28. N ebraska .Division-Covington to Omaha, 126; Niobrara. Branch, 16. Total 963 miles. This was
a colU!olidation July, 1880, of the Chicago St. Paul & Minneapolis
(formerly West Wisconsin), the North Wisconsin, and the St. P a ul &
Sioux City. See statement in V. 30, p. 675. Stock was increased in
June, 1881, as per CHRONICLE, V. 32, p. 500. Prefe]jred stock bas a prior
right to non-cumulative dividend of 7 per cent from n et e arnings; but
common shall n ever receive more than is paid on preferred. ·
The Chic. St. Paul & Minneapolis I st mort.is a ~d on the lands; the
land mort. a 2d on road; but no foreclosure can he had except on default on 1st mort. The lands mortgaged are abo\lt 500,000 acres, and
the total lands own ed considerably m_o re. (V. 30, p. 675; V. 31. p. 20.)
The North Wisconsin was in progress from Lake St. Croix to Bayfield.
Wis.; 165 miles. For each mile built $10,000 in bonds and $15,000 in
stock were issued. /V. 30, p . 248.) '.rhe St. Paul & Sioux City was a
consolidation in Au~st, 1879, of the St. Paul & Sioux City ·and the
Sioux City & St. Paw, forming a main line from St. Paul to Sioux City,
270 miles. With extensions in progress, the company had 460 miles ot
road, witn a single mortgage of $4,600,000, or $10,000 per mile. All
the old stocks of both roads were retired with t~e new stock. The St.
Paul Stillwater & Taylor's Falls was consolidated with this company,
also the Worthin!?tonSiou.x Falls & ,Iowa and Covington & Black HillEr.
The St. Pnul & Sioux City bad lands unsold Jan. 1, 1879, of 560,680
acres; the Sioux City & St. Paul bad 439,858 acres. In January, 1880,
200,000 acres of land were sold to English capitalists at $6 per acre.
In year endi.ng June 30, 1881, gross earnings were $2,139,593; net,
$1,004,()08.
·
The following was in the CHRONICLE, V. 33, p . 441 : "No annual report
of this important company was issued for the yea~ 1880, and thererore
tho report to the Railroad Commissioner of Wisconsin for the ;-rear ending June 30, 188 l, is of greater interest. This re.port, quoted m the St.
RAILROAD STOCKS AND BONDS.
Subscribers "Will eonf'er a great f'avor by glTlng bnniedlate notice of' any error discovered In these Tables.
- -- -- -
DESCRIPTION.
INTEREST OR DIVIDENDS.
Bonds-PrincJ
Miles Date Size, or
A
t
pal,When D ne
}'.ox explanation of colwnn headings, &c., see notes of
of
par
Ou~~~g Rate per When Where Payable and by S~c~-Laat
on first page of tables.
Road. Bonds Value.
Cent. Pay'ble
Whom.
Dividend.
Ohieagocf: West. Indiana-1st mortgage ............ .
Ohicago & West Michigan-Stock, new ............. .
1st mortgage, N ew Buff. to St. Jo ............... .
Gr. Rap. Newayg-o & Lake Sh., 1st mort. coup ... .
do
2d M. on 35 Ill. & lat on 11 m., coup
General mortgage ($ 12 ,000 p er mile)._ . .......... .
Oi n. Georgetown ct: P01·tsmouth.-lst mort ......... .
Oineinna.ti India1iap. St. Lmiis d'; OMcago-Stoc]r..
Tnd. & Cin. of 1858, 1st mort .... ...... .. ..... . ... .
Indianapolis Cin. & Laf. mortgage .... _...... . ... .
Equipment bonds, registered ... . ......... _..... .
Cin. & Ind., l at mortgage. ___..... ................ .
do
2d .M., g,.1ar., and funded coupon s ... .
lRt mort., Cin. Ind. St. L. & CIJic. (for $7,500,000}
Cincinnati Lafayette & Chioago, 1 st mort., gold ..
Oincinnati & Muskincrmn Valley-1st mortgage ... .
C in cinnati New 01·leans re Texas Pacific-Stock .... .
0 '{ncin?iati Northeni:-lst, gold, mortga~e .... .... .
Oin. Richmond d! Ohic.-lst mort., guar. t;. H. &D . .
2d mortgage, guar. and owned by C.H. & D .. .. .
Oin. Richmond rl: Fl. TV.-lst mort., gold, guar . ... .
Oincinnaii Sandusky ct Cleveland- Stock .......... .
Preferred stock .. .. . ....................... .. ... . .. .
Mortga~e bonds, Sandusky, Dayton & Cincinnati
ao
8anduslcy City & Ind ........... .
2d mort~. Cine., Sandusky & Cleve . ....... . ... ... .
O incinnati & Sp1·ingfield-lst mortgage, guar ..... .
23
1880
isag
4.0
194
90
151
1871
1875
188 1
188 1
20
20
194
56
148
1858
1867
1873
1862
1867
1880
1871
1870
50
36
36
90
1880
1866
1869
1871
188
138
or!l:~~~f~l!iJiii,i ·it· Muiiii,a;,.~sioci:":::::::: ..·:::
Oter,elanit A k1·on d': Oolwnl,us-Stock ....... . ..... .. .
80
48
111
145
Cleveland Canton Gosh. d': S.-lst mort., gold ..... .
Ole1:1eland & Mahoning Valley-Stock ..• . ........... .
..£io
lat mortgage, extended ............ . .............. .
New bonds ......................................... .
Niles & New Lisbon, 1st mortgage ............... .
67
67
35
i866
1852
1867
1871
1872
$ ....
1,000
1,000
500 &c.
1,000
1,000
100
500 &c.
1,000
500&c.
1,000
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1.000
. 50
50
i:ooo
1,000
·ioo
100 &c.
50
1873 · 500 &c,
1876 500 &c,
1870 500 &c.
1880
Paul Pioneer-Press, gives the total income of the company as $2,13!},593, of which $574,385 was from prt,Ssengers and $1,565,208 from
freight; operating expenses, $1,135,249, leaving $1,004,343 as excess
of income over operating expenses, not including taxes. Dividends
declared during the year were $336,138, all on preferred stock. Amount
o f common stock issued since the date of last report, $8,491,833; preferred stock, $8,613,333. Total amount of stocks outstanding, $23,4'L6,666. The stock issued dm·ing the year was to take up the stock of the
roads consolidated Jun e 1, 1880, to pm-chase stock of the consolidated
roads June 1, 1880, and to purchase the stock of the St. Paul & Sioux
€ity Railway Company. The total bonded indei:>tedne.ss of the company is $16,lf\6,175 Total stock" and debt is $39,582,841, which is
$43,024 per mile on a total of 920·88 miles of road. The expend!tures of the company on prov.erty accounts were as follows: Extension
of the North Wisconsin Railway, $787.480: new lines in Nebraslrn,
$16, 148; coijt of the Menominee RR., $44,017; cost of the Black River
Railway, $49,166; the Eau Claire & Chippewa Falls Railway, $1,591;
right of way, $2,363; n ew freight and passenger stations, water stations
and wood sheds, $47,830; new shops, engine houses and turn-table,
$32,470; new freight depot, yard and grounds in :Minneapolis,
$106,632; n ew drawbridge at Hudson, $53,130; new bridge over the
Ohlppewa River, $ 84,279; new side tracks, $33,893; new steamer for the
Missouri River transfer, $ 8 67; consolidation expenses, $13,131; other
expenditures sufficient to make a total of $1,353,870 paid out for
oonstruction. Numl.>er of locomotives purchased during the year, 36,
at a cost of $32 L, 164; p assenger, mail and baggag e cars, 5, at a cost
or $18,!:159; freight a nd other cars, 1,309, at a cost of $777,4.65; total,
for the equipment. $1,117,589. Total cost of the line to date of this
report, $35,109,978; at date of hist report, $12,542,980. Cost of the
St. P. & Sioux C. R'y, $18,728,684. At present the company owns 111
locomotives, 45 passenger cars, 27ha~gage, mail and ex.press cars, 3 ,223
freight cars and 59_ other c~rs. (V. 31., p. 88, 281, 515, 606,625; V. 32,
p. 155, 206,500, 5o2, 569, u77; V. 33, p. 99,225,357,44 1, 526, 580.)
Chicago & Tl'est. Indiana-Owns from Dalton, Ill., to Chicago, with
branr.hes, 23 miles. Opened 1\Iay, 1880, and leases road for right of
way into Chicago to the Wabash, the Grand '.rrnnk: of Canada and the
Chica.go & Eastern Illinois roads. Stoel.: is $500,000.
Chicago rl: West 11fichigan.-Dec. 31, 1880, owned from New Buffalo
:Michigan, to P en twater, Mich., 170 miles ; branches-Holland Junction
to Grand Rapids , 24 miles ; B. R. Junction to Big R apids, 51 miles :
tota.l operated. 245 miles. Organized as successors of Chicao-o &
Michigan Lake Shore Jan. 1, 1879, the C. & M. L. S. having l>een su'id in
foreclostu-e Nov. 16, 1 878. Consolidated in Sept., 18 1, with tile Grand
Haven road, 57 miles, Muskegon t.o Allegan, and the Grand R ap. Neway
go & Lake Shore , 4 6 miles. trom Grand R apid.a to White Cloud. (See V .
33, p. 384.) Earrungs in 188 0, $ 840,021, and expense.s, $600,438; n et
$239,583; interest paid, $38,400; dividend, $153,572, and expended
for construction and equipment, $94,155. (V. 27, p ,-227, 538; V. 30, p.
p. 2'70; V. 32, p. lot>, 121, 4 41,685; V. 33, p. 9-9, i.24!, 384, 622.)
CincinnaU Georgetown cl!: Po1·tsmouth.-Linc of road from Cincinnati
to Portsmout1fr 0 .. 40 miles . Narrow gauge and bonded at $G,OOO p er
m~:1~~::~~tI;:~~:r:~~~!1~~:o~~;;:· Chicaqo.-June· 30, 1881, owned
f rom Cincinnati t.o Lafahette., Ind., 175 miles·, L",,.. wr·encebl11• 00- br·anch,
2 miles; Harrison branc (partly owned}, 7 miles; Fairland F. & M.
Road, 38 miles; and C~ncinnati Lafayette & Chicago (lease d), 75 miles;
total operated, 297 miles. July, 1 831, lea.sed tbe Ver. :1reen s . & Rush.
RR' 45 miles, for operating expenses, interest on bonds, etc. Formerly
the Indianapolis Cincinnati & Lafayette, ~which was a consolidation in
1876 of the Indianapolis & Cincinnati and the Lafayette & Indianapolis railroads, the company taking a perpetual lease of the Cincinnati
·
d o
6
·
·
&- In di ana R aih·oa
.
n August 1, 187 , a receiver was appomted,
and the 1·oad was sold in foreclosme Feb. 2, 1880, and th.is company
organized. Of the $7,500,000 new bonds $6,885,000 was reserved, into
which all of the old : bonds prior to the Indianapolis Cin. & Laf. 7s of
1869 could be exchanged at par. 'l'he other secmities were provided
for as follows: The 7s of 1869 received 70 per cent of their face in new
stock, and the funded debt 7s,i_ or preferred stock, 40 per cent. This
left a balance of new stock of :i,2,029,045, which, with the balance of
new bonds, $615,000, was offered a.a follows: To the 7s of 1869, 10 per
oent in bonds and 30 per cent in stock for 10 per cent cash; to the
funded debt 7s, 20 per cent bonds and 60 per cent in stock for 20 p er
oont c.ash; to the common stock, 2 per cent bo:::ids and 6 per cent in
stock for 2 percent cash. In July,,1881, $2,000,000 Bew stockwa.~ sold
to stockholders at 70, and proceeds u sed to extinguish floating debt
(:$1·,060,000J; also, $300,000 contril;mted towards a new line to Seneca
and bala n ce used for other purposes. Second annual r eport of new
company in V. 33, p. 501. Operations au.d em·nings for five years were:
Passenger. Freight (ton)
Gross
N et
Years.
Mi.Jes.
Mileage.
l\'lilea_g-e.
Earnings. Earnings.
1876-7. . .... 194
19,244,431
38,803,669 $1,311,210 $:190,•!10
½~Ji=L ~::: i~f i~;~i~:if~ g5;ggg;Mg
g~~;~~i
tM;~~~
1879--80.... 300
27,839,061 105,567,662
1,761,242
491,4871
1880-81 . . . . 297
29,870,496 1 28,936,363
2,365,058
961,490
-(V. 30, p. 168,192, 624: V. 31, p. 259, 356,510,672; v. 32, p. 134,
5.52; v. 33,1>.153,468 501 50J 588.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
$4,000,000
6,151,000
4 80.000
576,000
200.000
2,050,000
140,00 0
6,000,000
1,600,000
2,790,000
68,000
499,000
1,466,800'
1,076,000
1,120,000
1,500.000
3,000,000
1,000,000
560,000
65,000
1.800,000
4,005,750
429,037
71.>,000
350,000
1.072,300
2,000,000
651,000
1,815,9:!6
4,000,000
800,000 .
2,759,200
630,000
"500,000
6
212
8
8
7
5
6
M. & N. N. Y., Drexel. M. & Co.
...
Boston.
l\L & 8. Bost.. Tre.asu.-er's office.
J. & ,T. N. Y. Union Trust Co.
J. & D.
do
do
A. •. & ·o.
Q,-J.
A.. & O.
7
F. & A.
10
M. & S.
7
J. & D.
7
J. & J
M. & N,
6
7 g. M, & S.
,T. & J.
7
112
7
Boston:i•aciflc·Nat. Bk.
Now York.
N. Y., Amer. Ex. Bank.
do
do
do
do
do
do
do
do
do
do
N. Y., Am. Ei! ch. N. Bk.
New York, Moran Bros.
Nov. t, 1909
F eb . 15, 1881
Sept. 188\-1
July 1, 1891
Jnne-1,1905
1921
April 1, 1901
Oct. , 18 ~1
April, 1888
F eb .. 1897
Sept. 1, 1883
Dec., 1892
Jan.'82,'87.'92
May 1, 1920
Mch., 1901
Jan., 1901
1:
oc1i. ·
·i920
6 g. A."&·o. N. Y ., ·G-€0:w:·nallou.
7
J. & J. N. Y., Winslow, L. & Co. July, 1895
Jan.
1,
1889
7
J'. & J .
do
do
7 g . J. & D. N. Y., Winslow, L. & Co. Juue. 1921
10s.
3
6
7
7
7
7
··7·g.
312
7 g.
7
7
M.
F.
M.
J.
A.
J.
....
Boston, Office.
& N.
. do
do
& A.
do
do
& S.
do
do
& D. N. Y., Union Trust Co.
& 0 . N . Y., U.S. Trust Co.
& J.
do
do
J.
-&--J.
M. &
F. &
M.&
J. &
New·yor1r.
Juii · 1,· "i910
Cleveland, Office.
.A. N. Y., Ward, C. & Co.
8.
. ........ .
J. N . Y., Union Trust Co.
N.
1872
· Nov. 1, 1881
Aug. 1, 1900
Sept. 1, l.897
Dec. 1, 1800
April 1, 1901
1902
(1)
Aug. 1, L893
Sept., 1906
Jan., 1890
Oincinnati cf: Musldngum Valley.-Deo. 31, 1880, owned from Morrow.,
0. , to Dre.sden Junction, 0., 148 miles. Chartered aa Cinn. Wilm. &Zanet:1.
in 1851 and opened in 1857. Sold under foreclosure Oct. 17, 1863, and.
reorganized as \Jincinnati & Zanesville Maroh 11, 1864. Sold again.
Dec. 10, 1869, and reorganized as at present. Leased for 99 years fi:om
Jan. 1 , 1873, to P. C. & St. Louis, lessees to pay all expenses and inter
est, any excess of earnings to inure to the lessors. Gross earnin~ in
1880, $364,703; net earnings, $44,821; interest paid, $105.000; deficit
advanced by lessee, $30,178. Capital stock, $3,997,320. (V. 30. p. 382;
V. 32, p. -198 .)
Oincmnati New Orleans ct Texas Pacific-Thia is the company organ.
ized to operate the Cincinnati Southern under the Erlanger Syndicate.
Theo. Cook, Presideut. See v. 33, p. 328, 468.
Cincinnati Northern.-Waynesville to Cincinnati, 50 miles. Conneeting line of the Toledo Delphos & Burlington. (V. 32, p. 6.)
Oincinnati Richmond & Ohicago.-March 31, 1881, own~d from
Hamilton, 0 ., to Indiana State Line, 36 miles; leased, Richmond.
Ind., to Ohio State Line, 6 miles; total operated, 42 miles. Chartered as Eaton & Hamilton in 1847 and opened in 1863. Reorganized
May 3, 1866, and leased in perpetuity from February, 1869, to 0. H. &
D. Co., the lessors to receive a ll surplus after expenses and bond interest.
Gross earnings in 1880-ca, $224,649; net. $:'!5,989; interest liabillcy,
$43,120; deficit, $7,131. Capital stoclc, $382,600; funded debt, $625,000; total (cost of proper ty}, $1,007,600. (V. 29 , p. 15 .1
Cincinnati Richmond & Fort Waync.-Dec. 31, 1880, owned from Richmond, Ind., to Fort Wayne , Ind., 83 miles-; lea.sad, 8 miles of Pitl:8burg
Fort Wayne & Chic.; total operated. 91 miles. Chartered in 1853 and
opened in 1866. L eased for· 99 years to Grand Rapids & Indiana; intcres t is guaranteed by thelessees and by the Peilllilylvania Company
and Cincinnati H amilton & Dayton Company, jointly. Gross earnings
in 1880, $372,768; n et, $88,494. Loss to guarantors, $72,021. Capital
stock, $1,708,621. Total advanced by guarantors, $650,744'. (V, 29, p .
299; V. 32, p. 499 .)
Cincinnati Sandusky <1; Olcveland.-June 30, 1881, owned from Saudusky, o., to Dayton, o., 154 miles; l>ranch, Carey to Findlay, 16 miles:·
leased, Columbus S_pringfl.eld & Cincinnati. 44 miles; total operated, 21i
miles~ less the divis10n between Springfield & D ayton 1 24 miles, which is
leasea to and c:r,erated by the Cle veland Columbus Omcinnati & Indianapolis. In .Aur1l, 1881 , a lease was m ade to the Indiana Bloomington
& Western. By the t erms of the lease this company takes 33 p ~,r cent of
its gross earnings as rental; but the amount in any one year shall not
be lesa tban $220.000, nor more than $5 00.000, and there are als.o
about $328,000 of coupons and coupon certificates outstaildlng. (V. 32,
p. 334.)
Gross
N et
,--Lease R entals.--Avallablo
Years. Earnings.
Earnini:r11.
Received.
Paid.
Revenue.
1875-76. _. $791,891
$214,983
$71,186
$81,124
$205,044
1876-77.. . 655,421
124,744
65,206
80,000
109.950
65 ,942
67 ,621
1877-78 - -· 647, 2 0 2
~~g:~~g
~~:~i~
~55,06·2
208 ,106
T~ix c~upois ~nk2g mortfagebboids
ffu~°ud
~IJ?.
J~ne,t
e l?re erre
s ac three
a s ayears'
ien possession
Y epoSI · 0 0 tile on
m ·us
· dlsReceiver,
after
property.
waa
charged J anuary 1 88 0. (V. 31, p. 179, 400 , 429, 672; V. 32, p. 15,
334 420)
'
·
Oincinnal'i & Springfteld.-Dec. 31, 1879, operated frou: Dayto~. O. ,
to Springfield, 0., 80 miles, of which 24 miles were leased trom Cmclnnati Sao. & Clev. RR. The whole is leased and oper.a ted by Cle-v. Col. Cin& Ind. Co., giving tbem a line into Cincinnati, and depot accommoda.
tion. Lessees apply any excess over rentals to C. & S. interest, which
ju guaranteed on the first mortga:?e, one-half by the lessees and on&-balf
"
~
by L. Shore & Mich. Southern. Stock is $1,100,000.
·
Oincinnati Wabash & Michigan.-D ec. 31, 1880, OW1!,~ from Goshe~
Ind., to Anderson, Ind., 111 -miles. Road, as ROW eXIStmg, opened m
Nov. 1 1876. Transferred to trustees J an. 1, 1878, and sold Nov. 5, 18'7~"
to said trustees, for account of bondholders. N ew company organizeo.
April, 1880, under name of Cincinnati Wabash & Michi~an Ra:Uway..
·,:,otal stock authorized. $3,000,UOO. Seo annual r eport for 1880 ill V.
:12, p. 525. (V. 29, p. 382; V. 30, p. 433; V . 32, p. 625.)
Cleveland Akron & Ooliimbus.-Dec. 31, 1881, owned from Hudson, 0 ,.,
to Columbus, o., 144 miles; leased, Massillon to Clinton, 12 miles: total
operated, 156 miles. Operated by Pennsylvania Company. Default
was made July, 1874, by Clev. Mt. v. & Del. Foreclosure suit b ~
June , 1880, and Mr. G . A. Jones, or Mt. Vernon. o ., appointed Receiver
in Sept., 1880. Sold in foreclo1mre August 20, 188 1, to H. W. Smlthe111.
for $1,142,000, and new company under above name took possession.
Dec. 1, 1881. Road bas n o bonded debt. (Y. 31, p. 259,357; V. 33, p.
124, 2~5, 468, 588, 715.J
Cleveland Canion Coshocton <f StraUsville.-Thia ro3:d ~ owned in tho
m terest of the Connotton Valley. In Ma:v, 1881, an mcrease of stock
from $800,000 to $2,000,000 was voted. (V. 33, p. 468.)
Oleveland & Mahoning_ Valley_. -Dec. 31, 1880, _owned from Cleveland,
O., to Sharon, Pa., 81 nnles; Niles, 0 ., to New L1sbon, 0., and branoll~,
46miles; totaloperatea, 127miles. Chartered in 1848 and ope~ed m
rnitig:::
i~~:~t
~rot
18:888
i§~;i&:
1~?;
xxvi
. RAILROAD STOCKS AND BONDS~
[V0L.
xxxm.
Subscribers 'Will co~r a g r ea t Cavor by glvin ~ lmmedJ.a te notice oC any error discover ed In these Tables .·
D ESCRIPTION .
INT E R EST OR D IVIDEND S.
Bonds-P rinoi- - - - -- - - - - , , - - - - - - - - - - - - - - 1 Miles D at,e Size, or
Amount
.
pal, When D ue.
Fer explanation of ooiumn beadings, &o., see notes of
of
Pfbr O·•tistandin"' Rate per When Where Payable, and b y Stocks-L ast
0
.on first page of tables.
Road. Bonds Value.
,.
Cent. Payable
Whom.
D ividend;
- - -- - -- - - - - - - - -- ------! ·- - - - - - - - · ! - - - - - -• - - - - ----·1---- - -- - - -•I--- - - - mt,,e.f,ana cf Marietta.-St.ock ..... . ..............•...
$ .... $1,547,000
..i¾ q:..:..:M. N. Y., Fa1:ui.: i: & T. Co. neO: · 1,· ·i881
Oleveland d: Pittslmrg-Gua.ranteed stock ...•..... . 225
50 1 1,244,350
4th mort~e (now 1st) ...... . ......... . ... . .... : ..
Consolidated sinlrin~ fund mort. for $5,000,000 ..
Construction and equipment bonds ...... .... .... .
Oleu. Tuscar's Val. d': Wh~eling-lst M., (L.B.& T.V. )
1st mortgage, new, prior lien ..................... .
199
199
i;~ &~~~em~~:ige::::::::::::::::::::::::::::::
1
Ok"'~ana Y,onngstown d: Pittsburg-1st mort., gold
Ooletn'OOkdale-l at mortgage .... ........... . ....... .
Oolorad.n Central-1st mortgage, new ... . .......... .
Ool1,mbia &: 1,rwnville-New mort.,g'ld,ooup. or reg
2d mort,g-::i,gc .... : .................................. .
Ool'f{.mbia d: I'o-ri l>cpoBit- lst mortgage ............ .
Oot·u:;.l>us Chicago & Indiana Uentral--Stock .. . . .. .
·1st M . (oonsol.) Colnmbus, Chic. & Ind. Central ..
do Chic. & G't East. (Clue. to Loga.rn1port) ...
do Col. & Jn<l'polis Cent. (Col. to lnd'::1, Incl) ..
do Union & Logansp't (U'u City to Log-ausp't,)
do Tol. Lo::mnsp't & Burl.(Logtw~p. to Ill. line)
do Col.& Ind. com.,lst&2d pf.(Col. to U'n City)
do Cinn. & Chio. Air Line (Richm'd to Lo"ans.)
2d M. Col. & fnd'poli.s Cent. (Uov. to Union City) ..
do Chio. & G't East. construe. (Chic. to Rich'd)
do Columbus, Chien.go & Ind . Cent1·al. .... . . .
lneome oonv., Col'. Chio. & Ind. Oentr:i.1 .... . . .... .
Income (Toledo, Logansport & liurliugton) ...... .
Uu1on Trust Co. certificates .. . ........... .. .. .... .
(>)IJMiH-1.bus Hocking Valley~ Toledo-Stock ......... .
Oonsol. mortga~e, ~nld (for $14,500,000) . ... .. .. .
1 st mort1:,rage, smkmg fund bonds ........... . .... .
..._ 2d mortgag-e bonds ................................ .
OolnrubUB & Toledo, 1st mortgage coupon, s. f ... .
do
2d morwage coupon, s. f . .. .
Ohio & W . Va., 1st M. {S. f. $ . ·5,000 beA"ins in '86)
18
78
16!
164
30
588
5~8
117
20i:!
93
61
102
107
208
224
c37
314
314
111
111
118
ll~
83
i862
500
1,000
1,000
1,000
1867
1873
1871
1878
1877
1872
1881
1868
1879
1831
1881
1,000
lOO&c.
1,000
1,000
1,000
18G8
100
1,000
186--l
ltl65
1863
1864
1870
iss"i
1867
1872
1875
l-l80
1879
·joo
1,000
500 &c.
1,000
1,000
1,000
1.000
1,096,000
2,561,000
1,:-393,000
2,000,000
700,000
1 ,372,000
180.000
10,000 p. ru.
600,000
2,526,000
2,000,000
1,000,000
1,603,000
l;j,938,972
10,478.000
221,000
2,632,000
715,000
510,500
372,000
113,000
821,000
23,200
120,000
8,99.) ,000
57,54.5
l,!'>00.0uO
10,217,000
(1)
1,500,000
1,000,000
2,474,000
383.000
1,584,000
J . & J.
do
do
1\1. & N .
do
do
J. & J.
do
do
A. & O.
Cleveland, Ohio.
A. & O.
. ....... . .
7
J . & J.
. ........ .
7
1\1.&N.
··········
6 g. J. & J. N. Y., Central Trust Co.
J. & D.
Pllila.. Co.'s Office.
6
7 g. ,J. & D. Boston, Treas.'R Office.
6 g. J. & J.
New York.
6
A. & O.
do
6
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
A. & 0.
. ........ .
Various N. Y ., 57 llroadway.
J. & J.
do
do
A. & 0.
do
do
F. & A. N.Y .. St. Ni0holas N.Bk.
J. & J. N. Y., 57 Broadway.
Various
do
do
1\1. & N.'
do
do
,J. & .J.
do
do
F. & A . N.Y.,St.Nicho1asN.Bk.
F. & A.
do
do
F. & A.
do
do
5 g. :\1.& s.
. .... .... .
A.. & 0. N. Y., St. Nioh. Nat. B'k
7
7
J. & J.
do
do
F. & A .
do
do
7
7
M . & 8.
do
do
M. & N . .N. Y ., Winslow, L. & Co.
7
.Jan., 1892
N ov. 1, 1 9 00
Jan. 1, 1913
Oct. 1, 1901
Oct. 1, 1898 ·
April 1 , 1907
May 1, 1 92
July 1, 1921
June 1, 1898
Jmi: · i·,· ·i916
April 1 , 1926
Ang. 1, 1892
A.pi·ii," ioos
1893 &'95
Nov., 1904
Dec., 1905
Feb., 1884
Dec., 1883
1886 to '90
Nov., 1904
1: ·i931,
1897
Se1lt."
Oct. 1,
Jan. 1,
Au,ir. 1,
Sep t. 1,
May 1 ,
1892
1905
1900
1910
U. 8. Circuit Court, for fl,OCOUnt of Receivers of the C. C. & I. C. Ry.
Co. The lease stipulated that the lessoes should maintain the road and ··
equ ·p nent, operate it, and pay over to the lessors 30 per oent of the
gro~ earnin~. Also. that the r ental should always be equal to the interest; on $15,vvO,OOO first mortgage bonds of the C. C. & I. C. Ry. Co.,
and $~21,000 of the second mort~a.ge bonds of the Col. & Ind. RR. Co.
C!,nelanil '11 Marietta.-.June 30. 1881, operated from Marietta, o .. to The lessees also agree to pay the mterest as it accrues on these bonds.
Oa.nal Dover nud branob, 99 miles. Trus eompa.ny w as organized as Any net earnings remaining after the payment of this interest are to be
su ooa!'sor of the Marietta Cleveland & Pittsburg, which waB foreclosed applied to the payment or interest on the second mortgage 7 per cent
Jnne 13, 1877. Isaao Morton , President, Crunbl'idge, O. (V. 31, p. 94. ) bonds to tbe amount of $10,000,000 (or on the preferred stock into whioh ·
these la,st bonds may be converted), to pay to a sinking fund of one-half
Oleuland ~ I'ittvb.-Deo. 31, 1830, owned from Cleveland, 0., to Roch- of one por cent on the $15,821,000 i;eferred to, and to apply any balance :
ester, O., 124 miles; branches-Bayard, o .. to New Philadelphia, 33 to dividends on common stook. In August, 1874, default was made on the
miles; YellO\T Ort'ek to Bellaire, 43 miles; leased. Rochester to Pittsburg $5,000,000 seconds, and April 1, 187v . defaulted on first mortgage. ·In
(1?. n. W. & 0.), 26 miles; total operated, 226 miles. The property w as the suit be-tween lessor and lessee, Judge Harlan d ecid ed the debt must be'
leased for 999 years from Dec. 1 , 1871, to Penn. RR. Go.• and lea.so tranR: reduced to the limit- (Sce bondholders' r eport, V. 29, p. 656. ) Pursuant •
tarred to Penn. Co. May 1, 1872. R ental, 7 per cent on existing capital to this decision, the debt was substantially reduced as required, and the
and $10 ,000 per yoar for company expenses, the lessees assuming all lla- final decision of Justice Harlan in J an. , 1880, ruled, in substance. tllat
lill.ities. Tbe terms of the lease were 10 per cent, but the old stock was the Col. Chic. & Ind Cent. Co. had performed its oovenant of the lease in
subsequently converted into 7 per cent by an increase in amount. educing the bonded indobto<lness of the road ; that the Penn. Company
(guarantor of the lease) was entitled to $1,~58 ,000 of convertible income
Operations and earnings for five years pa.st wore as follows:
·
bonds for the same amount of seoond mortgage bonds of tho Col. Chio. &
Passenger Frei(l"ht (.ton)
Gro1;s
Net
Div. Ind. Cent. Co., together with $572,3!)0 accrued interest; -that on the 1st;
Years.
Miles.
Milea,ge.
~iifleago.
Earnin,g11. Earning'!'(. p.c. of .Jan., 1880, there was due and unpaid, AA r ent, by the lossoos, $3,356,226 19,844,913 l<fs":664 ,100 $2,282,030
$890,582 7 855; lmt they are entitled to a total deduction of $587,281. leaving the
1 77 ..... . 2 26 15,640,607 133,!>91,70G 2 ,330,83•i
1,039,172 7 nei; amount due totlteC C. &I. 0. $~,769,574, save as of tenants accepted,
1 78 .. .... 226 1 4,853,524 143,114,623 2,272,167
9 6H,112 7 and the trUBtoos are entitled to roceive 6 per cent interest thereon from ·
1 . 9 .... .. 226 16,624,524 164,675,80,,t 2,.418,fiHI 1,151,780 7 Jan. 1, 1880, till paid, but none !Jefore that date; that the lessees shall be
1$80 .. .. .. 226 18,083,711 172,535,850 2,699,290 1,~'73,4.88 7 bouI1d under tbe lease to p ay to the trustees and their su ccessors, so long
as tbeir receivership shall last, aa rental for the premises of the C. C. &
-(V. 28, p. 41, 300.)
I. C., 30 .Qer cent of the gross earnings of tlte road, and in oase the;r fall
Oleveland T'ltScarm.oas Val. cf: Wheel.-Jan., 1881, own ed from Black short of $1,107,470 (7 per cen t intere,1t on $15,821,000 of bonded indebtRlver, 0., to Woot Wheeling, 0., 158 miles. Chartere<l aA Lake Shore & edness) in any one year, then tho clefioienoy shall bo made fOOd by the
TUR. Val. in 1870 and openod in 1873 . Sold under foreclosure J an. 26, lessee. That the lessee was entitled to r eceive from. tho C. C. & I. C.,
l:875, nnd reorgn.ni7,ed under prc1;ent title. Tho new first mortgage is n, on its ola im for betterments, income bouds to tho amount of $660,000.
prior lien by consent of rul tlle mortgage b@ndholders. Gross earnings From this decision the Pennsylvania RR. appealed to 1he U.S. Supreme
iil 1879, $474,52'> ; in 1880, $506 ,39!). N et earning-a in 187D, $165,482; Court. In Jan., 1881 , a compromise wa.s p ending by which tlle Penn.
in 18 80, $51H,303. Interest liabflity, $207,640 per annlllll. Cu.pitaJ Oompany issued new bonds to buy up the C. C. & I. C. bonds . (See V. 32.
p.122.) There is also on record ajudgment for $!)32,500 on $298,000
@took, $1,197,!)50 (V. 30, n. 272, 297.)
Newcastlo & Riehm. RR., 1st mort. bonds, with interost, ahead of the
Oktielrt.,,id Youngstown cf Pitt.sburg.-Narrow ga.ni;co road in prc,g-re1'S cuusolidat~d mortl?a1.rn.
frtim Alliance, 0., ~ Brimtleld. about 100 mile.'!, inoludmg- liranobes,
In the CHHONICLE of July 30, on page 12.t, was p;iven an nocount of cer~
and m-ossing several narrow gauge ron.ds. In D eo., 1881, over 25 miles ta.in proceedingR of tho bondholder,; or this company. The penn:men\
w@t·& eom,:.>leted. H 0nry. W. Foru, President, 5 Cortlanut St., New York.
C'Ommittoe appointed at the bondholders ' meeti,ng called npon Messrs.
I selin , Whitewright and Wilson to turn over toit tlle bondholders' assets.
<Jolebroole13d,al,e.-~ov. 30, 1850. own3!'1. from Pott.stown, Pa., to Barto Messrs. Julius Wadsworth, H enry Morgan, George Smith and Peter
Pa., 13 miles. Chartered in 1865 and opened in 1869. Lcaae<l for 20 yearR Geddes, bondholders, then began a s uit i•1 the Snpreme Court to restrain
f.rom J 11n. 1, 1870, to Pbib•. & Read, at 30 per Cflnt of gToss earnings. In tho new committee from nctiu~ in 11ny way as the rnprosontR.tives of the
J nn1:1, 1880, default wa,i; made on bondR. GroRS earnings in 1879, $30,544.; bondholders, and to rcl:ltrain n.11 other parties from recognizing them as
ne\ earnings (30 per cent rental), $9,163. Payments-interest, $36,000, such. A t emporary inj11nction in tile case was obtained from Judge
and other, $305. Capitol stock, $ 297,215; fandcd debt, $G00,000, and Donohue on August 17. Argmnout upon a motion to continue the·
1loating debt, $54,432; total liabilities. $926,087. Construction ($52,146 iujunction was finished Sept. 29 before Judge Potter, in Supreme Court,
per mile), $667,774, and profit and loss, $288,781. (V. 30, p. 589,)
Chambers. It was-assertotl for the plai ntitfa tlrnt the meeting at which
Messrs. Osborn, Scott and Dinsmore were appointed was irregular,
Columbia ,t: Greenville (S. 0 .)- This is the roorg::mization of the Green- notice not llaving been g iven to all tho bondholders; that Messrs. Scott
ville & Oolnmbia road. The Company owns fTom t :olumbi a to Green ville. and 0 8born were intent upon assisting the Pennsylvania Railroad Com-·
·8. C., 143 miles; branches to Abbeville and Anderson, 21 miles; total, 164 pn.ny to the prejudice of tho bondholdors; and that they proposed to.
:milefl. Also owns Laurens RR., 31 miles : and le11,.<ies Blue Ridge RR., make a compromise with that C,Ompa11y, although the power ot a bond32 miles, and Spa,rtanburg Union ·& Col. RR., 68 miles. Tota l operated, holder s' oommittee to mn,ke such a compromise ·expired when the court
~6 miles. In 1 78 a R e1·eiver took possession n,n.-Lthe road wn.8 solu in ·dete11nincd the liability of tho P enn sylvania R:1ilroad Company as
f ore~losure April 15, 1880, and ag-ain in August, 1880, and reorganiza- g uarantor. At the ,:lose of the ar"'umcut l\1r. Stetson withdrew the.
tton wa,s ma<le, with bonds as abovo; and preferred stoolr, $1,000,000; application for an injunction upon t'iic understandin&" that his clients
common stock, $1,000,000; all in $100 sbaros. Tbe gross e arnings from should receive five full days ' notice of any meeting ca1led to ratify: any
Ootober 23, H- 80, to October 1, 1881, were $6-15,9:W; net., $263, 194. agreement made by the committee with the P e nnsylvania Ratlroad
Six per cent paitl on pref. stock. Dec., 1881. (V. 31, p . G8, 9-!, 259, 453, Compmy, and they mi.,.ht then, if they cho ose, r enew the applica~ion.
588 ; v. 33, p . 201, 468, 687. )
It was also understood, but not clefiuitr ly agreed, that the comuuttee
should give Mr. Stetson's clients infonnation respecting the terms of the
Oolora<l,<> Central.- Deo. 31, 1880, ownec1 from Cheyenne,Wy., to Denver a,gr ecment in n.dvan ce of the meeting. Operations and en.rnings for five
(aj;andard gauge), 133 miles; and Golden to Centrn.l City, 40 miles; and years past were as follows: ·
.
PMsenger
Frei.,.ht (ton)
Gross
Net
T brlrn Creek to Georgetown, 25 miles; tota l 3-foot gauge, 65 miles; total
0perated. 198 miles. Chartered in 1865, and main line opened iu 1870. Years.
Miles.
-Mileage.
Mileao-e.
Earning-s. Earnings.
It is owned by the Union Pacific. The new mortgn,~e bond was issn e.cl 1876 . ...... . 581
37,754,467
274,953,224 $3,457,716 $506,608
to ta.ke up the old 8 per cent bonds. S tock, $3,971,000. (V. 28, p. 269; 1 ~77 ... .. ... fi81
31,795.2!)7
254,492,612
3,396,255
455,340
v. 30, p. 168.}
·
1878 ........ 581
32,132,185
805,019,182
3,433,665
411,514
Ool-umbia&I'ort Deposit.-Dec. 31 , 1880, .owned from Columbfa., Pa., to 1 87!J .. .. .... 580
33.967,484
402,856,462
3,911,261
756,300
Port D eposit, Md., 3!} miles. Leased t<> anu operated by Pennsylvania 1880 . ....... 581
4.1,432,531
441,353,9-W
4,795,771
726,260
R,R. Go. Rental, net earnings. · Net earuings in 1880, pftid to lessors, -(V. 30. p. 16,163,289, 383, fi18: V. 31, p. !'>3:i; V. 32, p. 122.155, 231,
~,6~5 . Capital st.o~k, ~~8,827; funcl~cl debt, $1,88~.000,and floatin~· 4.44, 498, 63 6; V. 33, p. 4u, 124, 357, 6H, 715.)
ebt,$45?.,830; totaJlmbilit1es,$'2,833,6a7. Costofpropcrty,$1,722,117.
Oolmnbus Hock'i,ng Valley dl Toledo.-July 1. l i,81 , road from WaIOol1tmbits Chic. cf: lnd. Oent.-Deo. 31, 1 880. owned from Colnmbus, O., bridge. O., to A.thens, 0 .. 19-! miles ; branches to Nelsonville, Carbon,
to I ndianapolis, Ind., 187 miles; branches-Bradford Junction, O., to &o., 37 miles; Logan to Gallipolis aml Pomeroy, 8;~ miles; total 314
{llrlcago, Ill, 231 miles; Richmond, Incl., to Anoka Junction, Ind., 102 miles. This was a consolidation in July, 188 1, of tlle Golumbus & Hoekmlles; Peoria Junction, Ind., to Ill. State Line, 60 miles; total operated, ng Valley, Columbus & Toledo. and Ohio & West Virginia.. The stocks
580 miles. This company was formed Feb. 12, 1868, by consolluation of of thm,e companies were purohased and n ew consolidated i-tock for
tlleCoL & Ind. Cen. and Chio. & Gt. East railroad companies, and wns $20.000,000 made, of wbieh the above was issued. Of t he consolidated
leased to the Pittsburg Cin. & St. Louis Railway Co. February 1, 1869, mortga,ge $6,500,000 is reserved to meP.t the prior liens. The Ueutr .a l
by whqm itw~sopera,tcddm'ing the la.st two yea.rs, underdireotionof tbe Trust Co. cf New York is trustee. 8ee V. 33, p . 4.6, lOu, 225, 254,303.
1851. It was leased to Atlantic & Great Western in perpetuity from
~ tober 1, 1861. A new len.86 was made to the reorgan1zod oompany,
N f)w York Pennsylvania & Ohio, tlll Oot. 1, 1062, at $357,180 per
year till January, 1885, n.nd $412,000 per yeai· afterward. (V. 30,
p.49 -l ; v. 32, p. 333. )
lti.76 ......
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
DECEMBElt.,
1881. J
lU.ILROAD STOOKS AND BONDS
Subscribers w-Ul eonCer a great favor by glvln~ immediate notice oC any error dlsoover&d In these Tables.
J.Jv1ut::,--r1·1.uu.t.INTEREST OR DIVIDENDS.
DESCRIP'.rION.
Miles Dat~ Size, or
pal.When Due.
Amount
·
when
Par
or explanation of column headings, &c., see notes of
-Of
Rate
per
Stocks-Laat
Where
P~able,
and
by
Road. Bonds Value. Outstanding Oent.
Payable
Dividend.
on first page of tables.
horn.
-- ----
oliimbu,s Springfield <f: Cinc-inn ati-lst mort .....
olumbits ct Xc-nia-Stock . . ...... , ...................
o~~o~?.:11~~t·_·_·_·::::::::::::::::::::::::::::::::::
Oon,eo1·d d: Clm·enwnt-Bonds. _....... . ..............
Ooncorri cf: Ponsmo1ttn~tock, guaranteed ....... . .
Oonnect·iciit Central--1stm. for, 400,000, cp. or reg.
Oonnectwut ct Passmnpsic-Stock .. . . . .......... _...
New mortgage (for $1,500,000) ........ _.... _.....
Massawippi s~k, guar. same div. as Conn. & Pass.
do
. bornls, guar. by Conn. & Pass ..... ...
N ewport & Ricllford bonds ......... .-....... ..... ..
Oonnectic1tt R-iver-Stoc1r ................ ............
Oonnecling (Phila.J-l st mortga~e .......... . ......
Oonnotton Valley- -Consolidated gold mortgage . _..
Oonnotton Valley cf: Straitsville-1st mortgage ......
Corning Coicancsque & A nt1·im-lst mortg1nge. _... ,
01trnbe1·lancl cf: Pe"nnsylvania-lst mortgage ........
2d mortgage, sinking fund, (§uaranteed) ......... .
Omnbe1·land Valley-Stock ($4 4,900 preferred) ... .
1st mortgage .......................................
2d mortgage, sinking fund guaranteed ...........
Common bonds . ......... .. .........................
45
55
55
141
71
41
29
146
110
38
38
22
5G
7
136
64
38
38
110
52
52
Danbur]/ <f: Norwalk-Stock .. .. ... . .... . ....... .... ..
. 33
1st an d 2d mortga~es ..... ................. ........
Consolidated mortgage .............. . .............
Danv. Olney ct O.Riv.-lst M. (for $~36,000) cp. or reg
Dayton cf: Jfichigan-Com . stock (312<1far. C.H.&D.J
Preferred stock, (.8 percent. guar. . H. &D.) .....
2d 1nortgage ...................... · -· .. . ............
3d mortgage ............ .. ... _........ _.............
Consol. mortgage; guar. by C.H. & D . ... ..... ....
Dayton d: Union-1st mortgage._ ............... .' ....
Income mortgage bonds ............. _......... . ....
100
142
142
142
142
142
32
1871
1860
1874
1875
1873
1870
1881
1864
1891
1881
1860
1868
33 '70-'72
' 1880
1880
1871
1867
1869
1 881
1879
1879
$1,000 $1,000,000
50
1,780,200·
1,000
302,000
50
1,500,000
500 &c..
500,000
350,000
100
500 &c.
325,000
100
2,244.400
100 &c.
1,500,000
100
400,000
1,000
400,000
1,000
350,000
100
2,100,000
1,000
991,000
1,000
2,600,000
1,000
2,700,000
500,000
1,000
803,500
1,000
594,000
50
1,777,850
161,000
500 &c.
500 &c.
109,500
100 &c.
81,800
600,000
50
100 &c.
400,000
100,000
50"6&c.
836,000
2,402,573
50
1,211,250
50
1 ,000
426,000
351,000
1,000
1,898 000
1.000
225,000
1,000
220,000
1,000
s. N. Y., Union Trust Co.
Q.-M. Columbus Treasury.
I'll.& s. N. Y., .Am. Exch. N. B'k
l\L&N. Bost.&Mauchester,N.H.
J. & J , Bost . . Treasurer's office
J. & J. Bost.&ManchestP.r,N.H.
New York City.
A. & 0.
F. &A.
Boston, Office.
A. & O.
do
2
F. &A.
do
do
6 g. J. & J.
6
J . & J.
do
4
J. & J. Boston, Bost.& Alb. RR.
M.& 8 . Ph.ila., Penn. RR. Office.
6
7 g. M.&N.
Boston, A~ency.
M.&N.
Boston, Agency.
7
7 g.
M_-&·s. New Yoi-i._:·eo·.;s Office.
6
i\f. & N.
do
do
6
Q.-J. Phila. and Carlisle, Pa.
212
A. & O. Phila., T. A. Biddle & Co
8
A. & 0 .
do
do
8
no
6
A. & 0.
do
Quar. New York and Danbury
114
J. & J. N. Y .. Nat. City Bauk.
7
J . & J.
do
do
6
J . & J. N. Y., Fa.rm. L. & Tr. Co.
7
134 A. & 0 . Ciucinnati. C. H.& D.Co.
Q.-J. N. Y ., Win.slow, L. & Co.
2
M.& S.
do
do
7
do
7
.A. & 0.
do
do
do
5
J. & J.
7
J . &D .N.Y., Am.Exch.Nat.Bk.
G
J. &D.
7
215
7
5
7
312
7
3
7
I'll.&
Sept. 1, 1901
Dec. 10. 1881
Sept. 1,1890
Nov. 1, 1881
1894
Jan. 1. 1882
Oct. 1, 1895
Au~.1, 1881.
April 1, 1893
Feb. 1. 1881
Jan. 1; 18!1"0
Jan. 1, 1911
Jan. 2, 1882
1900-'l-'2-'3-'4
Nov., llHO
May l, 1911
July 1, 1885
March 1, 1891
May 1, 1888
Oct., 1881
April 1, 1904
April 1, 1908
Jan . 1, 1884
Sept. 1, 1 881
1920, '90, ' 92
1920
Jan. 1, 1910
Ja:"l.. 1. 1882
Jan. 4, 1882
Sept., 1 884
O ct., 1888
Jan. 1, 1911
Deo. 1, 1909
After 1910
Oolumbus Sprmgji.eli.l ct Cincinnati.-·J-une 30. 1881, owned frem Collilmbus, 0., to Springfield, O., 44 miles. Opened in 1872. Leased to Cincinnati Sandusky & Cleveland for !O per cent of gross earnin~ up t.o
$120,000. and 50 per cent of a ll above that amount. R ental for year
endin~ June 30, 1 880, $45,599 . In 18~0 the "balance sheet sho wed
capital stock, $1,000,000, and bonds, $1,000,000. (V. 31, p. 4 0 5. l
Oonnofton V alley cf: Straitsltilfe.-The prospectus issued in Ma.y, 188:I-.
stated: "For t he purpose of exteRding the Connotton Valley Railway-,
this company has purchased the Con otton V alier. & Straits-ville RR.
"This r ailroad extends from Canton, Ohio, where 1t ia c onneoted with
Cleveland by the Connotton Valle_y Railway Company, of which it la a,
branch, through Coshocton and Zauesvillo to the coal fields of New
Straitsville, and through tho Hoelrin.ir V ;1 lley to .Athens-the whole <lilll•
Columbus & Xenia.-Dec. 31, 1380 , own ed from Columbus, O.J to Xenia, tauce from Canton to Athens being 136 miles. Tho Oonnotton Valley·ts
0., 55 miles. Is operated as a division of the Little Miami, aua is leased the nearest coal field to Cleveland, and its rapid development. whioh iB
for 99 years in connection with that road to the Pitts bm·g Cincinnati & already sufflcietJ.t to supP.lY Cleveland with 1 ,500 tons a day, on the
St; Louis, which pays 8 p er cent on stock and provides for the bonds. opening of the rail way will supply an enormous and most remarkable
'l'he lease i s guaranteed by the Pennsylvania R a ilroa d Company. The freight over that part of the line . Through arrangements alrea<,ly
Columbus & Xenia pays 825 per cent d ividend per annum.
made, capital to the amount of $2,000,000 i R being directed to the d evelopment of mines in -these different districts in the interest of. tllifl
Ooncord.-Mar ch 31, 1881, owned from Concord, N.H., to Nashua, N.H., railroad, and the d evelopment will be such aR to supply the r oad
35 miles; Manch ester & North Weare, 19 miles ; Hookset Branolt, 7 with a t least 3,000 tons a days, as soon M the company is in posimiles; leased-Concord & Portsmouth. 41 miles ·; Sunoook Valley, 20 tion to carry: t hat amount. For the purpose of completing this road,
miles; Nashua Acton & Boston, 20 mil.e s; total operated, 142 m iles. furnishing sidings, freights housos 11Ud ample equipment, it is proposed
Operations, earnings, and income over r entals, &o., for four yea rs past to issue $2,720,000 first mortgage 7 per cent 30-yea-r bonds, prinoipal
were as follows:
and inter est payable in Boston. Coupons May and Sovember 1. For
Passenger Freight (ton)
Gross
Div. each oash subscription of $950, the subscriber will receive $1,000 fl.rat
Net
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings. p. c. mortgage bond and two shares Connot_ton V alley Railway stock."
·
Corn-i?ig CO!J)anesque cf: 4ntrim.-Deo. 31, 1880, <_>wned from Corni~,g,
1877-8. ··-· 142 10,856,140 21,634,669
$771,171 $340,454 10
1878-9 . .... 142 10,580,508 21,609,056
733,004
318,847 10 N. Y., to Antt-1m, Pa., 53 uules; branch, Lawrencev1.llc to Elkland, Pt).,
1879-80 .. . 142 11 ,08 1,30:} 2fl,006,834
870,088
346,732 10 11 miles; tota l operated, 64 miles. Consolidation (Jan., 1873) of the
1880-81 ... 142 13,118,217 30,295,384
955,000
362,608 10 Blossburg & Corning RR. and the Wellsboro RR. June 1, 1874, the
Cowanesque Valley RR. wa.s n.bsorbed. These lines are lensed t-0 and
-(V. 30, p. 599; V. 32, p. 610; V. 33, p. 225, 254, 357.)
operated by the Fall Brook Coal Co. Rental paid-7 per cent on bon.d&,
Ooncord d: Claremont.-1\farch 31, 18~1, owned from Concord to Clare• $35,000; G per cerit on common s tock, $84,000, and 7 per cent on pfemont, N. H., 56 miles ; branch. Contoooookville to Hillsborough, N . H .. fcrred stock, $35 ,000; total rental, $119,000 a year. Stook-coIII.Ill,_qn,
15 miles; total operated. 71 miles. Consolidation of ~veral small roads $1,400,000, and preferred, $500,000; and 7 per cent bonds, $375,000.
in 1873. Gross earnings in 1880-81, $140,570, and operating expendi· Annual drawings of $20,000 commenced in 1880.
tures, $91,7!:l4; net earnings, $48,776. Capital stock, $410,900, and
Cumberland &,.Pennsylvania.-Dec. 31, 1880, owned from Cumberland,
bonds, $500,000; total stoe-K and bonds, $910,000. Original cost of Md., to Piedmont, Md., and several branche,i, 55 miles; almost all s~l
property, $1 ,850,000. Floating del,t, $254,245.
rail. It is owned and operated by Consolidation Coal Company, which
guarantecS second mortgage.
·
Ooncord d! Pm·tsmouth.-March 31, 1878, owned from Port.<imouth, N.
Cumberland Valley.-Dec. 31, 1880, owned from Harrisburg, Pa., to
H., to Manchester, N. H., 4012 miles. The road was sold to firs t mort- Potomac River, Md., 82 miles; leased-Martinsburg & Pototrl.f1c Railroad,
gage bondholders in 1857, and len.sed to Concord RR. in 1858. Lease 12 miles; Dillsburg & Mechanicsburg Railroad, 8 miles i Southern.
rental is $25,000 11-year, which gives 7 per cent a year to present stock- Pennsylvania Railrnad, 23 miles; total operated, 1 25 miles. Charholder~. There is no debt.
tered in .1831. Main line, Harrislmrg to Chambersburg, completed in
Connecticut Central.-Sept. 30, 1881 owned from East Hartford, Ct. 1839, and extended to tho River in 1872. Owns or leases several factory
to Mass. State Linc, 20 miles; branch from Melrose to West Street, Ct., 7 roads, in all about 43 miles. The stock is owned in large p art by PeRnmiles; l eased, Sprin,.,-tl.eld & New London. Sprin!!field t-o State Line, 8 sylvania Railroad Company. L ast annual r e port V. 3(), p. 297. Large
miles; total operated', 35miles. Leased to NewYorlr& New En[lanclRR. ad vanccs have been made to branch roads. Operations and earnings for
·
from June 1, 1880. Capital stock, $448,500; funded d ebt, $32::>,000 (all five years past were as follows :
owned by New York & New England Railroad); and bills, overdue couPas!'lengcr Freight (ton) Gross
Net
,--Dlv.p.o.--.
pons, &c., $29,019. (V. 30, p. 116, 357, 544.)
Years.
Miles. Mileage. Mileage. Earnings. Earn'gs. Prof; Com.
, Oonnectictit cf: Passumpsic.-June 30, 1831, owned from White River 1875-6. . .. . 125 7,314,G49 10,531,250 $547,994 $289,351 1219 12-~
10
Junction, Vt., to Canada Line, 110 miles; leased, Massawippi Valley 1876-7... . . 1 25 5 ,869,56:2 11,062,510 519,851 254,253 10
10
~nd bran.oh (Ca,nada), 37 miles; total operated, 147 miles. Chartered 1878 . . . . . . . 125 5,416,229 11,030,907 536,410 224,985 10
10
m 1835. Complet ed in 1863. The lease of Massawippi Railroad is at 1879 . . . . . . 125 5,265,292 12,485,385 503,597 264,900 10
. . . . . . . . 536,945. 230,199 10
10·
6 per e-ent on bonds and same dividends as are paid on the stock of the 1880 . _.. . . 125
lessee. Abstract of last r eport in V . 38, p. 327. The. new mort"'age of -(V. 28, p. 42'2'; V. :m, p. 29'2'; V. 32, p. 3 l 1 ,1
$1,500,000 retired previous issues. Operations and earnings for four
I>anbur-y d: ,Y or wallc.-Sept. 30, 188 1, owned from Danbury, Conn.t :.to
years past were a s follows :
·
South Norwalk, Conn., 24 miles; branches to Ridgefield and HawteyPa~senger Frei~ht (ton) Gross
Net
Div. ville, toqether 10 miles; total operated, 34 miles. Opened in. 1852.
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings. p.c. Dividenu.s have been irregular. Operatiom and earnings for ttve yeam
·
1877-8 .. - . . 14 7
4,464,983
8,179,341 $558,612 $222,590
3 past were as follows :
1878-9 . .... 147
4,400,575
8,574,443
544,142
219,i:;95
3
Passenger Freight (ton)
Gross
Net
1879-80. .. 14 7
6,174,878 13,670,452
657,547
226.139
3 Yea.n
Miles. Mileage.
Mileage.
Earnings. Earnings. p . c.
1880-8 1. .. 147
6,117,700 19,726,662
774,146
311,165
5 1876-7 .. .. 34
2,464,378
903,384
$16a,245
$43,371 .a
!.....(V. 29, p. 299,301; V. 31, p. 303 ; V. 33, p. 32'2'.)
1877-8. . .. 34
2,557 ,337
932,634
157,953
39,667
·2· ••
1878-9.... 34
2,481,b89 1,089,900
164,236
35,318
Oonnectic1it Rivc1·.-Sept. 30, 1880, owned from Springfield, Mass ., to 1879-RO .. 34
3,301,269 1,308 ,897
18i,407
60,<Y79
2~
South Vernon, Vt., 50 miles; branches, 6 miles; leased Ashuelot RR., 1880-81 . . 34
3 ,608 ,823 1,228,828
195,163
88,341
5
8. Vernon, Vt., to Keene. N. H., 24 miles ; total operated. 80 miles. - (V. 3(), p. 567; V. 31, p . 509: V. 33, p . 559.)
Net income 1 879-80, $232,12 1. Ashuelot RR. r eceives about $ 16 ,000
Danville Olney (!. hio Rivcr.-This road is in p rogress from Dan.ville,
Pays 8 per cent dividendR on Rtock and has paid off all the funded debt.
Ill., south to Olney and Noble. 10 miles. Bonds offer ed in 1 88 L by R .
-(V. 2 !:l, p . 510; V. 31,p. 651; V. 33, p. 502, 561.)
M. Raven & Co., a.t par, with $500 stock given with each $1,000 1'ond.
. Connecting (Philadelphia).-Dec. 31, 1880, owned from Mantua Junc- - (V. 33, p . 124 ).
·
tion to Frankford Junction, Pa., 7 miles. A connecting link in Phila.
Dayton &: lfichigan.-March 31, 1 881, owned from D ayton, 0., t-0
delphia to the West and South. Operated by Pennsylvania Railroad Toleuo , 0., 14 1 miles. Opened in 1 862. Leased in perpetuity to the
Rental, 0 per cent on capital stock, $1,278,300; and funded debt, $!:191,· Ui11cim:1ati Hamilton & Dayton. In Maroh, 1881. voted to i,SSue a 5 per
000. The bonds are issued in series AB C and D, matm·ing respectively ceut consol mortgage bond. There are also $53,000 Toledo Depot boll4bl
in li)OO-'l, '2, '3 and '4.
due 1881 aud 1 894. Of the common stoclc $1,010,000 only ia gtlM'·
Oonnotton ValleJJ.-This road is in progress from Bowerston to meve au teed 312 by C. H. D . L riss in 1880-81 , $13,078. The lessees hold
a nd, Ohio, and when completed it will be 118 miles long , narrow ,<rauge, $1 ,398,100 of the common stock. (V. 29, p. 15 ; V. 32, P 312.)
have $2,600,000 seven 1Jer ct. bonds ($22,000 per mile), and $3,000,000
Dayton c£: Union.-June 30, 1878, owned from Dodson, 0., to Uni.on City
of stocl{-60.000 shares of the par value of $50 ooc)l. Of this mort- fnd., 32 miles; leased Dayton to Dodson, 15 miles; total operated, 4.7
gage $662,000 were reserved to p ay a prior mortgage of the Connotton miles. The Greenville & M iami RR. wa.s sold out Oct. 30, 1872, and re•
Valley RR., and $1,125,000 to pay a prior mortgage of tlie Connotton , organized as now Jan. 9, 1863. Operated by trustees s-ince Dec., 187,1 .
Northern RR. The company was operating in January, 1891. 4 1 miles . Capital st-oclc, $86,300; funded debt, $!87,445, and other 1i.abllitf<'J',
uf the road.
$52,3!) 0; total, $626,135. Property account, $620,224. (V. 32, p._691) ,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Dw.
RAILROAD. ·sTbCKS AND ' BONDS.
[VOL.
XXXIII.
8uherlben will eonCer a great f'a-vor by giving Immediate notice oC any error dl•covered In these Ta1'les.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Bond-s-Prin
Date Size, or
Am
t
- - - - - - - - - - - - - - - - - - pal, When D
of
of
Par Onts~~g Rate per When JWbere Payable, and by Stocks-L
Road. Bonds Value. _ _ _ _ _ Cent. Paya.bl·]
Whom.
Dividend.
- - - - - - - - - - - - - - - - - - - - - - 1 Miles
Fer explanation of column beadings, &c., see notes
o:n first page of fables.
Davwn d! Western-1st M., guar. L. M. and C. & X..
41 1865
l)a..tu,are-Stock.. ....... ... . . ........................ 100
Mortgage bonds, convertible, guar. P. W. & B.....
85 1875
Delaw,r.re d! Boiind Brook-Stock, guaranteed......
.
],st mortgage . .......... ... .......... . .... . . . . . . . . . . .
· 27 1875
I>ebenture bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
~aw,,re .Lackawanna d! Western,-Stock.. . ........ 195
Comiol. mort.., on roads&equipm't,($10,000,000) . 288 1877
Bouds (convertible Jm1e 1, 1875 to '77). .. . .......
lt,72
1.,n"kawn.n na & Bloom1.h .. 1st mort. (exteusion)..
60 1859
Denver Longmont d! Northwestern-1st mort., gold.
1881
D e,,:r:er .,- Rio r,-m nd-e-Stoclr ($30,000,000 a.uthor'd)
1st mort., gold, sinking fun<l. .... ..... ......... .. . 2!H 187C
16t oom1ol. mortgage ($15,000 per mile) . . ......... 1,493 1880
Denv.d! .R.Gr. Wesf.-lst, g-. ($ 16,000p. m .),cp. orreg.
All 1881
iJe.tt1'tr Sm-,th l'ark cf: Paci;tu>--: ~took.... .. . .. . . . . . . . 212
lt<t mortgage, golfl, si11kmg fund .. .. .. . .. . . . . .. . . . 208 1876
Com~ol. mort., gold ($ L7 .000 per mile) . ....... . ....
1880
Den'c-er Wl:.st. di Pac.-lst M., gold ($30,000 per m.)
188 1
JJI}.• .l1ni1rns ti: Fm·t Dodr/e-lstmortgage,cvupou....
8 8 1874
2 6 1881
Mortgage on extension............................
Del. tir. l:la1'en & Mil.-lst M ., guar.,(t'or $2.000,000) 1 89 1878
Oousolidatect mortgage,1-r1rnr.. ..... .. . .. . . .. .. . . . . 189 1878
Dollar (Oak. & Otta. RR.) bonds, Oct, 1, 1853. ...
1853
1 st. uwrt. (Detroit & Pontiac RR.), April 1, 1851.
1 851
8d mortgage (Detro1~ & Ponti?,C RR.), F eb. 1854.
1854
2d ~ort}?age, (Detmt & Pontiac RR.), Jan. 1853 . . . . . 1853
Detroit Hul.~dale cf; S. TV.-Stock. ... . . . . . . .. .. .. ... ..
65
.j)etrott Lans-i1i,g & North.-St-ock, commo11.... . . . . . .
Preferred fitock. .... ................. ............ ...
1st, mortgage . .... .. ... ..... . . . . .. . . .. . . .. . . . .. .. . . . 182 1877
loniSt, & Lansing, 1 st mort., coup., may be reg.. ..
59 1869
:OUlmque ti Siou:J: Oii11-Bt-0ck. .... .... ............. .. 143
....
1st mortga.g e, 1st division... .... ........... . ...... 100 1863
lat mort~age, 2d division (for $1,400,000).. ... . ..
43 1864
=
$1,000 I $495,000
25
1,468,91)4
1,000
650,000
1 ,652,000
1,500,000
152,000
50 26,200,000
....
3,067,000
1,000
600,000
100 &e.
370.900
500 &c.
100,000
100 24,160,000
500 <.\cc.
6,382,500
500 &c. 16,420,000
1,000 10,000,000
100
3,500,000
1,,000
2,500,000
1.000
(n
1,000
900,000
1,000
2,200,000
260 ,000
l,v00
2.000,000
200 &e.
3,200,000
500 &c.
44,000
1.000
144,000
1,000
250,000
1,000
100,000
. ...
1,350,000
100
1,825,600
100
2,5.03,380
500 &c.
2,443,000
1.000
770.000
100
5,000,QOO
500
2!}6,000
500 &c.
586,000
6 &7
3
6
1::\.1
7
6
134
7
7
7
7
112
7 g.
7
6 g.
4
7
6 g.
7 g.
6
J. & J. N. Y., Am. Exch. N. B'k
J . & J.
Dover, Co.'s Office.
J. & J. Phil.,Fid'lityI.T.&.8.Co
Q.--F. .
Philadelphia.
~'. & A.
do
. .........
Q.-J.
New York, Office.
M. & S.
do
do
J. & D .
do
do
M. & 8.
do
do
•
A. & O. New York and Boston
Q.-J. N. Y., Company's Office
M. & N.
do
do
J. & J.
do
do
M. & 8. N. Y., Co.'s Agency.
.. . .
New York.
M. & N. N.Y., London& Frankf't
J. & J. N. Y .. Co.'s Agency.
J. & J.
New York.
J. & J. N. Y., Morton, B. &Co.
Jan. 1, 19
Jau. 2, 18
July 1, 18
Nov. 16, 18
May, 1905
. ...... .
Oot. 20, 18
Sept . 1, 19
June, 181}
March, 188
April 1, 19L
Jan. 14, 18
Nov. 1, 19
Jan. 1, 191
Sept. 1, 19
Aug. 15, 188
May 1, 19
Jan. 1. 192
Jan. 1. 19
June 1, 190
6
5-6
7
7
8
7
112
212
312
7
8
3
7
7
A. & 0. New York & London.
do
do
New York.
do
F. & A. N.Y.,Ca nad'nB. of(;om.
J. & .r. New York, 50 Wall St.
J. & J. N. Y., Winslow, L. & Co.
Boston.
F. & A.
do
J. & J. Boston, 2d Nat. Bank.
J. & J.
do
do
A. & 0. N.Y.,M.K.Je1mp,P.&Co.
J. & J. N.Y.,C.M. & St.P.,Office.
J. & J.
do
do
1918
1919
,Jan. 1, 188
Jan. 1, 188
Feb. 15,188
Jan. 1, 188
Jan. 1, 188
Aug. 10, 188
Feb. 15,188
Jan 1, 190
,July 1, 18R
Oct. 15, 188
1883
1894
A. & O.
M. & N.
A. & 0.
um d! West.ern.-Dec. 31, 1880, owned from Dayton, 0 ., to Rir,b - ~<>recs not to build to Deuver or Leadville, or to any
Ind., 41 miles. Leased in perpetuity from Jn,n. 1, 1865, to Little on or west of the Denver & Rio Grande Railroad..
Kia , and carried with that road in the generaJ lease to the P. C. & St.
The first comprehensive report was published in the CHRONICLE,
Louis. The lessees are vh'tual ownei.'8 and are answerable for all obli- 32, p. 550, giving a history of operations. the r eport for 1880, &c
The trust deed of the consolidated mortgage is to Louis H. Meyer an
gations.
John A. Bt-0wart, of New York, as trustees. The deed is to secure au
Delawnre.-Oct. 31 1880, owned from Delaware Junction (P, W. & B.), provide for an issue of bonds, the amount afloat at one time not
Del., to Delmar (Md. tine), 84 miles; branches, 16 miles; total operated, exooed $30,000,000, of which $7,422,200 shall be u sed in retirin
100 miles, less one bra.nob (6 nnle,.'l ) operated by the Dorohester & Dela- prior issues, and the balance issued for the purpose of building an·
ware Railroad. The Delaware Railroad was opened 1855-1860, and is completing the extensions to Leadville, New Mexico and San J
.Thnsed to the P. W. & B. Co.; ronW 30 per oent of gross earnings, but mines, and 0ther points-and the bonds an, issued at $15,QOO J)er mile
Btock must have six per cent. Grosi; e1:1,1nings m 1878-9, $448.:'3 62; net, Of the <'Onsol. mortgage $1,040,000 exchanged for Arkallilas Divisio
Cl34,508; in 1879--.o gross, $426.265; net, $127,879. Dividends and bonds held by trustees of the Colorado Coal & Iron Co. The followin
i:literest paid in 1879-80, $129,773. (V. 28, p. 69.)
are the latest yearly earnings reported (1879 not given):
DelatDare ti Bound Brook.-D ecember 31, 1880, ·owned from Bound
A ver3.o"'El
Gross
Brook (C. of N. J .) t-0 Delaware River, 27 miles; branch, main line to Yenrs.
Miles.
Earnings.
~nton. 4 miles; total operated, 31 miles. In connection with Central 1877 ............................
2~3
$622,792
G.f New J erser. and North P ennsylva nia forms a line between New 1878............................
308
1,096,517
York and Philadel:J?.hia. Jn May, 1879, the property was leased for 1880 .. ............... .... . . .. .. .
474
3,478,066
1,710,46
990 years to the Phlladelphia & Heading Railroad Company-tho lessee -(V. 30, p. 16. 118, 143, 248, 322, 493, 624; V. 31, p. 44, 94, 152, 558
J)ayrng interest and 6 per oent on stock in 1879-81, 7 per cent in 1881-83, 588, (>52, 672; v. 32, p. 231, 500,550,686; v. 33, p. 46, 124,201,303,
and 8 per oent afterwar,l. The terms were described fbS follows at the 329, 5U>, 559, 622,687, 709, 716.)
thne: "Tho lease is for 990 yea.rs, being made for this term booause the
Bound Brook's obarter is for 999 years, and a few years of its existence
Denver & Rio Grande We.~t. (narrow ganqe)-This company's mortIt.ave already paased. The conditions are that the R eading is to pay all gage oove rs contemplated lines i.n Utn.h Territory estimated at 3,022
interest on the bonds of both the main roads and t.he laterals , and the miles. The company is an offshoot of the D enver & Rio Gra.nde.
· interest on the fioatin~ indebtedness n,t 6 per cent until the bonds are
converted. The Reading aJso binds itself to pay dividends on the stock
Denver So. Pm•k, & Pac. (3 ft.)-Dec. 31, 1880, owned from Denver, Col..
of both roads q1:1arterly, on the 1st of February, May, August and No- to Gunnison, &c., 135 miles; extension to Hortense, 8 miles; branch to
Yember. l<'or the first two years it is bound to pay 6 p er cent dividends; Morrison from Bear Creek. 9 miles, and branches, 6 miles ; extension to
:fur the next two years followin g , 7 p er cent, and for nll subsequent Gunnison City, 54 miles; total, 212 mile.s . Firs t mort~age bonds issued
years 8 per cent, free of all taxes . Gross earnings in 1880. $!')6g,789; at the rate of $12,000 per mile of finished road, and tne sinking fund o
Bet, $265,743. (V. 28, p. 451,503; V. 30, p. 566; V, 3::?, p. 611.)
112 per cent annually on outstanding honds, to be retired at par b y lot,
begms in 1886. Se pt. 20, 1880, new branches authorized, and voted to
D /;)laware Lackawanna & West.e1-n.- -Dec. 31, 1880, owned from D ela- iuorease the capital stock, and in Oct., 1880, the consol. mortga/$0 was
wa.re River (N. J. line) to New York State line, 115 ruilos; branebes- made for $15,000,000, to be at $17,000 p er mile on whole roarl, 01d and
8crant-0n to Northumberland. 80 miles ; Greenville to Winton, Pa., 8 n ew, less the amount of fir.;1t mortgage 011 the old. In D.ecember.
miles; Junction to Keyser Valley, Pa., 5 miles; leased lines in N ew 1880, l\lr. Gould bought moat of tbP. stock, and passed it over to the
York-Ca.ynga & Susquehanna. RailroadA 35 miles; Green Railroad, Union Pacific. (V. 30 p. t>6, 624; V. 31, p. 45, 68, 152, 358, 429, 535,
'I miles; Oswego & Syracuse Railroa.<:l, D5 miles ; Utica Chenango & 558, 608; v. 32, p. ~4, 44.4.)
8nsguehann a. Valley Railroad, 98 miles; Valley Railroad, 11 miles;
oontr.olled o.nd operated-Syracuse Bing ha.mt-0n & New York, 81 miles;
Denrer Western dl Paciftc.-Proposed road from Denver to LongHome & C1int-0n Railroad, 13 miles; Utica. (,1inton & Biughrunton, 31 mont. Col. From Denver 30 miles to be done by ~-\.ug. 1, 1881. Formiles; leased lines in N ew J ersey-Chester Railroad, 10 miles; Morris $ :{,060 in cash the company gives $3,000 in 1 s t ruortga,ge bonds and
& EsS(',x, 118 miles; Newark & Bloomfield, 4 miles ; Warren Railroad, $1,500 in stook. J ohn S. Crooks, President, Boston.
19 miles; tot.al operated, 670 miles. For the terms of leases, soo remarks
lIIlder the names of the respective leased roads. The Lackawanna. &
Des Afoines dl Ft. Dod.ge.-June 30, 1881. owned from Des Moines to Fort
Bloomsburg was consolidated with this company JUIJe 19, 1873. '.l'be Dodg-e. Iowa, 84 miles, with au extension building, 26 miles, to Rolfe,
:fnllowing is a synopsis of the annunl statement of the company for 1880: Originally a division of the Dos Moine..<1 & Valley RR., built in 1870 and
~ss earnings from all sources .... ....... ........ .... ....... $21,656,604 tmld out in 1873. Gross earnings in 1880 were $324.'7:25 ; net, $1_4~,920.
:Less expenses... . .... . .. ... . .... . .. ... ....... . . . .. .. .. . . .. . . .. 15,753,133 Half of above bonds are incomes and d epend on earnmgs for then· 1ntercst. Capital stock is $1,843,120, of which $756,120 is preferred. (V.
Balance net earnin:,rs....... . .............................. $5,90::J,471 32, p. 312,434; v. ::,3, p. 23.)
Deduct interest on bonds and rentals of leased roads . . . .. ...
3,627,381
Del. 0-rand Haven & Mil.- Doo. 31, 1880, owned from Detroit, Mich., to
Haven, Mioh., 189 miles. This is a reorganization of. the Detroit
Actual profit for the year ending Dec. 31, 1880.. . . . . . . . $2,276,039 Grn,nd
& :M:il. which was sold in foreclosure Sept., 1 878. A sufficient amount
The following shows the gross and net earnings of the company proper, of first mortgap:e bonds is r eserved to retire O. & O. and D e t. & P. bonds
:Including tne aggregate coal sales, i'or twelve years:
on maturity. The bonds are gnamnteed by the Gt. Western of Canada.
The oonsol. bonds draw 5 per cent till April, 1884. and 6 afterward. The
Gross
Net
Gross
Net
Years.
Earnings.
Earnin,g-s. Years.
Earnings.
Earnin""S. stook is $L,500,000. Gross earnings in 1880, $1,220.076; net, $403,812.
1868-9.. 14,924,010
1,759,595 1875 .... $27,014,846
$7,162,1~3 -(V. 28, p. 120.)
1869-70. 20,011,300
2,164,019 1876 .... 17,447,916
4,001,861
Det. HWsd,a,lc ct: S01.tthw.-De-c. 31. u~sn, owned from Ypsilanti, Mich.1871.... 17,086,100
1,118,911 1877.... 14,871,311
2,479 ,19 7 to Banker's, Mioh .. 65 miles. The Det. H. & Iud. road was sold in fore,
1872.... 21,660,013
1,295,488 1878.... 14,454,405
3,618,129 closure December 28, 1874, and this company organized by the bond,
I873.... 25,334,989
5,331,310 1879.... 20,226,708
3,810,451 'bolders. In Ang., 1881, leased in p erpetuity to the Lake Shore & Mich.
1.874.. .. 22,741,521
5,743,750 1880.... 21,656,604
5,903,471 Southern Co. for $40,500 per year (3 per cent) on stock for two years,
The mortgage for $10,000,000 authorized will take up prior bonds to the and $54,000 p e r year (4 p. ct.) afterward. (V, 30, p. 222; V. 33, p. 225,)
amount of $2,820 000 as they mature, and the bala.noe wa.s for oa.sh r c11om-ces as required. (V. 30, p. 108, 408,216, 229, 304; V. 32, p. 230;
D etroit Lansing & N01·thern.-Dec. 31, 181:lO, owned from Grand Trunk
v. 83, p. 73, 716.)
Junction, Mich., to Howard City, l\1icb., 157 miles; brancbes--.'::!ta1:1ton
Junct.ion to Bk Rapids, Mich., 63 miles; Belding Branch, 112 mile.s;
Denver Lonqmont & Northwestern .-This road is in progress from, leased, Grand Trunk Junction to D etroit, 4 miles; total operated. ~25
Denver to Lon"mont in northern Colorado. Bonds ($100,000) offer ed miles. A eonsolidation, April 11, 1 871, oftlle Detroit Howell& Lansmg~
in.Boston March, 188 1, at 90, carrying bonus of 5 sharPs of stock with tlle Ionia & Larn'linf!" and the Ioma- Stanton & Northern railroads, under
eacb $1,000 bond. Frederick O. Princ-0, Boston, Pres. (V. 33, p. 20.)
ihe name of D etroit Lansin~ & Lake Michigan RR., whlch was sold in
foreclosure D ecember 14, 1876, and n ew stock issued as above. Gross
Denver cf Rio Grande (3/t.>-Dec. 31, 1 880 , owned from Denver City, caruings in 1 878, $970,033; in 1879, $1,108,932; in 1880. $1.203,151.
Col., to Alamosa. Col., 251 niles; branches-Pueblo, Col., to Ca.non City N et earnings in 1878, $372,198; in 1879, $4-! !?,145; in 1880, $464, 1.;.6.
30d Coal Mines, 44 miles; Cuohara, Col., to El :\ioro, Col.. 45 miles; total -(V. 28, p. 326; V. 30, p. 168,271; V. 32. p. 394.)
to Jan. 1, 1881, 340 miles. In July, 1881 , the total mileage completed
was 830, and 400 more we-re under construction. The trouble between
Dubuque & Sio'l.ix Cit?/.-Doo. 31, 1880, owned from Dubuque, Iowa, to
the At<l~ . To~. & 8 . Fe line and this oom pany waB finally settled by a,...."1.·ee- Iowa Falls, 143 miles. (!bartered as Dub. & Pao. in 1856. Leased to Ill.
ment, a?d a.1udicial decree entm:ed fixing it _for ten yenrs, (see V. 30, p. Cent. from Oct. 1. 1867. for 20 years, the lessees agreeing to pay 35 p er
1.4 3), n z.: "The Denver & Rio Grande 1s to stop the constn1ction cent of gross earnings for ten years and 36 per cent for next ten y~ars,
of its Pueblo & St. Louis line ca,5t from Pueblo.
Its ext,ension with privilege to make the 1ea8e perpetual at the latter rate. Earnmgs
into New Mexico is to be built only to a point half way b etween 1878, $925,228~ net (after drawback to I. F. & S C.), $394,145. Gross.,
~onejos and Santa Fe. '.l.'ho Atchison Topeka & Santa Fe Company 1879, $927,826.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
r .,
DECEMBER,
1881.j
RAILROAD 'STOCKS AND BONDS.
xxix
Su~crlben 'Will confer a grea, f'avor by giving lounedlate notice of' any error discovered In these Tables.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Bonds-PrinciMiles Date Size, or
Amo t
pal, When Due .
~or explanation of column beadings, &o., see notes of
of
Par Outsta:~"" Rate per When Where Payable, and by Stocks-Last
on first pa,ge of tables.
Road. Bonds Value.
~
Cent. Payable
Whom.
Dividend.
-----------------------1-----------1--~---1---·---·l----------·I-------63 1879 $1,000
$650,000
6 g. J. & J. N.Y.,M.K. Jesup,P.&Co. July 1, 1 919
Duf>tun~ ~ Dak.-lst M., gold, gu. (payable at 105)
l •rtth. cf: Winnipeg-1st mortgage, gold, land grant
2d mortga.g-e, rncorne...............................
cf: Pittsoi,rg-lst mort., gold
Dunkirk .Al-tegh. Valley
~~ :~~~~::::::::::::::::::: ~:: :.: :::::::::::::::
East Broad 1.'op.-lst mortgage, registered. . .......
East Pennsylvania-Stock. ·. ........... . ........... . .
1st mortgage........................... . ......... ..
280
. ...
90
~g
30
36
36
East Tcnne-ssee Virninia & Georgia-Common stock. 1,232
Preferred stock .(B_per cent). ... . . . ... .. .. . .. . .. . . . . . . .
Consol. m0rt., gold (for $22,000,000) .. ........... . 1,123
Income bonds . ... . ........................... .,....
. .. .
Old lst mortgage sinki~ g fund bonds ............ . 242
East Tenn. & Georgia ($92,000 are endorsed) . . . . 112
East Tennessee and Virginia (endorsed)........... 130
2d mortgage to U. S. Go,, ernment .. ............ _.. . .. .
Easte1·n (Mass.J--Stock........... ... .. . .............. 282
Essex RR.1st mort. (extended for 10 years)...... . _..
M ortgag~ funding <;ertltlcate;i...................... . . . .
Eastern (N. H.)-Stock ............... . .. . ... .. ...... .
16
Eastern Shore (][d.)-lst mortgage . . . . . . . . .. . . . . . . .
38
Eel R'i'ver-Stock. ... .... ... ...... ..... ........ ... ... .
94
Equipment bonds............ . . .. . . ... .. . .. . . .... . . . .. .
Elizabeth Oily d': Norfolk · 1st mortgage, gold.... .. .
75
.BHzabethtoum Lex.cf:Big Sandy-1 st mortgage, gold 122
Elm!ra Jeff.. &. Oanandaigua.-Stock ...... .... _.....
47.illmira ~ 'fViUiambport--Stock, common . ..... _. . . . .
77
Preferred stock.....................................
77
1st mortga,ge l>onda . ..... .. . . . .. .. .. ..... ... .... ...
77
Inoome bonds, 999 years to run................... . . . .
"Jlrie II PUtsburg--Stock ...................... _..... . . 100
1st mortgage, convertible into consolid. mort. ...
8119
2d. mortgage, convertible . ................. .. _.. _..
8119
Consolidated mortgage free of State tax ....... _..
8119
Equipment bonds ..... ·-··......................... . ...
1881
1870
1870
1870
1873
is5B
1880
1881
1870
50-'56
1856
1872
1851
1876
1860
1879
1880
1872
.
i860
1863
.. . .
1862
1865
1868
1,000
6 g. M. & N. N. Y., Central Trnst Co. May 1, 1 911
1,000
5,000,000
2,000,000
2,000,000
1,000
1,000,000
1,000
200,000
1,000
500,000
50
1,709,550
100 &c.
495,900
100 27,500,000
100 16,500,000
1,000 11,000,000
16,500,000
1,000
3,123,000
1,000
535,400
1,000
147,000
190,000
100
4,997,600
100 &c.
194,400
500 &c. 13,429,605
100
492,500
100 &c.
400,000
100
2,972,800
83,000
1,000
900,000
1,000
2,500,000
100
500,000
50
!>00,000
50
500,000
1,000
1 ,000,000
500
570,000
50
1,998,400
100 &c.
278,700
92,300
lOO&c
1,000
2,206,000
685,000
7 g. J.
7
A.
A.
7
7
J.
3
J.
M.
7
& D. N.Y., N.Y. Cent. & Hud.
& O.
do
do
&_O.
do
do
& . Philadelp'a, Co.'s Office.
& J. Phila., by P. & R. RR.
& S. PWla., P. & R. office.
June:·is9o
Oct. 1, 1890
Oct. 1. 1890
July 1. 1903
July 19, 1881
Mar. 1, 1888
Juii. i·.. "i 930
1911
.T. & .T. N. Y., Gallatin Nat'l v.·k .July 1, 1900
J. & J. N. Y.,R.T. Wilson&Co. 1881 to 1886
May 1, 1886
U. & N.
do
do
Jan.1, '82 & '87
4
···•······
3
J. & J.
Boston.
July 15. 1873
Sept. 15, 1886
6
1\1. & S.
do
412g. M. & 8. Boston and London.
Sept., 1906
214 J. & D. Boston, by Treasifrer. Dec. 1, 1881
6
T. & J.
Philadelphia.
Jan. 1, 1900
1
Q.-M. Boston. by Treasurer. Dec. 5, 1881
7
Q.-F.
. ........ .
May 1, 1 8 85
6 g. M. & S.
New York.
Sept. 1, 1920
liar. 1, 1902
6 g. M. &. S.
New York.
114
.... Baltimore,N. Cent. RR. July, 1879
219 M. & N. Phib., Penn. R. R. Co. May 1, 1881
J an.2, 1881
do
do
319 .r. & J.
6
,r. & J.
do
do
Jan. 1, 19t0
Oct. 1, 2862
5
A.. & O.
do
do
1~
Q.-M. N. Y., Union Trust Co. Deo. 10, 1881
July 1, 1882
7
J. & J.
do
do
7
A.. & O.
do
do
April 1, 1890
July 1, 1898
7
J. & J.
do
do
Oct. 1, 1890
7
A. & O.
do
do
7
6
6
Dubuque cf: .Dakota.-Doo. 31, 1880, owned from Sumner, Ia,. to Hamp- so far as your directors have been informed. At the same meeting
ton, Ia, ll3 miles. Built on the old grading of the Iowa Pao. .Dubuque & the boal'd of directors were instructed to buy the Selma Romo
Sioux C. Co. guarantee the bonds issued for construotion to the extent of & D alton Railroad from the syndicate, which purchased it in June last
$1~000 per mile. Bonds may be paid off at any time at 105 . Bonds as
above $10,000 per mile; prefe-rred stock $10,000 and ordinary stock
$5,000; total, $25,000 per mile. (V. 30, p. 493; V. 32, p. 69.)
Dulul.1, cf: Winn·ipeq.-Road in progress from Duluth to Manit-0ba
bonn<la.ry line , 280 miles. •.rue lan d grant amounts to 1,800,000 aores,
which ia subject to the first mortgage. 'l'he stock is $5,000,000. Wm.
W. Spalding, President, Duluth.
Dunkirk .Allegheny Valley ct Pitt.sb.-Sept. 30, 1880, owned from Dun•
kirk, N. Y., to Titusville, Pa., 91 miles. A consolidation of the Dunkirk
War. & Pittsb. and Wan·en & Venango in 1872. Is owned by N. Y. Cent.
& Hudson River Co., but o.ooounts are kept separate. Gross earnings.
~878-~. $283,132; no net e~rnings; deficiency, $'~0,109. Gross earnings
m 1879-80, $'261,947; defiernnoy, $17,217. Capital stock, $1,300,000;
funded debt, $3,200,000; advance by lessee, &o., $21,016; profit and
loss, $103,458; total liabilities, $4,824,474. Nominal cost of property,
$4.,815,379. (V. 30, p. 17.)
East R'l"oad Top (Pa.)-Dec. 3.1, 1880, owned from Mount Union, Pa.,
to Robertsdale, Pa., 30 miles. A coal road, opened in 1874. The stock is
$568,4{;0. In 1878 gross earn'gs were $90,808 and net earn'gs $38,122.
East Pemisylronia.-Nov. 30, 1-880, owned from ReRding, Pa., to Allentown, Pa.• 36 miles. It is leased for 999 years from May 19, 1869, to the
Phil.a. & Re.a.ding 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 c:G Georpia.-Consolidation May, 188 1. (V. 32
p. 552). Milea,ge as follows: Bristol, Tenu .• to Chattanooga, Tenn .. 242
miles; Morr:istown, Tenn., to Paint Rook. Thnn., 45 miles; Knoxville,
Tena, to Kentucky State Line, 66 miles; Cleveland, Tenn., to Meridian,
Miss., 380 miles; Ooltewah, Tenn., to Red Clay, Tenn., 12 miles; Rome,
Ga.., to Brunswick, Ga. , 378 miles; total, 1,123 miles, 221 miles of this
being in progress. The company leases the Mell!phis & Charleston Railroad fol'. 20 years, werely paymg its ·earnings as rental, but agrees for
three years from Dec. 2, 1879, to furnish funds to buy up any c~upons.
of the M. & C. road r emaining unpaid. After the three years the lessee
may surrender the lease on six months' notice. '£he company's application to the New York Stook Exohan~e, July, 1881, had the following:
" Of the first mort13:age consolidated oonds, there o.re held in trust
the Central Trust oo. $7,509,000, to retire the same amount of the on
standing divisional and sectional bonds. There are also held in trust by
the same trustee, $3.500,000 bonds to provide for the completion of the
Rome Atlanta & Macon division of the company's railroad now in
progress, 17;, miles in length, and the company has contracts with
responsible parties for the oomple-tion of the division during the year
for the prooeeds of the funds ao held in trust. The company owns 1,123
miles of railroad, of whioh 902 nilles are in operation and the remainder
is in progress. It also operates under a lease for twenty years from
July 1, 1879, tbe lines of the Memphis & ChaFleston Railroad Company,
from Chattanooga. to Memphis, Tenn .. 310 miles, and the Florence and
Somerville branches, 20 miles, in all 330 miles, makir.g a total of 1,232
miles of proprietary and leMed lines now in operation and 221 miles in
progress. The lease of the Memphis & Charleston RR. is an operating
lew;ie simply, tt.nd create.a no moneyed obli gation against the East Tenn.
Va. & Ga. RR., ail ne-t earnings bein&' paid ova to the lessor company.
The company has $5,000,000 cash m its treasury for equipment and
"bettermen ti purposes.
·
The la8t rumual report of the old Ea.Rt Tenn. Va. & Ga. wa,s published
in the CHRONICLE, V. 31, p. 556, and the earnings and inco.llle account
for the year ending June 30, 1880, were as follows:
bl
1879-80.
1878-79.
rxl~ i~~: ~~:: :·::·:::.:_:_:.: : ~:::::::::::::: ,ii:Hi $~iti~!
Miscell:meous ..•... ... ... . . . .. . . .. .... ..... .. .
6,373
6,710
~p~~~~::::::::::::::::::::::::::::::::::::::: $1.~~~:~~~
$988,293
6:.W,lv3
Net earnings .... .. ........................ . $485,893
$368,189
Earnings for -six years past wore llB follows :
Ye,ars.
M.iles.
Gross Earnings. Net Ea.r uin~. Div. p.ct.
·3
1874-5........... 272
$1 ,059,986
$342,464
1875-6..... .. .. .. 272
1,058,954
343,560
3
1876-7... . ....... 272
994,050
325,127
·3
187'7-8........... 272
1 ,022,252
409,609
1878-9...... .. ... 272
988,291
368,188
3
6
1879-80 . . . . . . . . . 272
1.212,887
435,893
Tbe sto(lkholders in OctQber, 1880, voted to increase the stock to
.$5,000,000 by selling to the st-0ckholders 150 per cent on their holdings
at the price of $30 per $100 share. Of this action the President,, Mr. Cole,
said in his r eport at the annual meeting in November: ..TWs action
on the part of the stockholders has met with general approvat
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
at Selma, Ala., if it could be done for $2,250,000, t)ayable in 6 per cent;
50-year registered coupon bonds of this company, and also to buy tho
balance of the stock in the Goorgia Southern Railroad. (V. 29, p. 382;
v. 30, p. 567; v. 31, p. 429, 510, 5 56; v. 32, p. 69, 265, 552,612; v.
33, p. 303, 35,, ms. 716.>
Eastern, Mass.-Sept. 30, 1881, owned from Boston, Mass., to N ew
Hampshire State Line, 41 miles ; branches -Salem to Marblehead, 4.
miles; Beverley to Gloucester, 17 miles; Salisbury to Amesbury, 4
miles; Revere to Lynn, 10 miles; Peabody to Wakefield, 8 miles; Salem
to Lawrence, 20 miles; others, 14 miles; leased-Eastern RR. of N. H., 16
miles; Newburyport City RR., 3 miles; PortlandSa-00 & Portsmouth, 5l
miles; Portsmouth & Dover, 11 miles; Portsm. Gt. Falls & Conway, 71
miles; Wolfeboro Railroad, 12 miles; total operated, 282 milea.
'.rhe company became embarrassed in 1875 and compromised with its
bondholders by the issue of a general mortgage to fund all the prior non•
mortgage debts, the n ew bonds to bear 312 per cent for three years from
1876, then 4½! per cent until September, 1882, and 6 per cent thereafter.
Notos payable a.re $687.200, secured by collatera.l or real estate.
The last annual report was published in V. 33, p. 561. Operations and
earnings for five years past were as follows:
Passenger Freight (ton)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
R eooivts. . Receipta.
1876-7 .. .... 282
68,502,002
39,099,659 $2,451,323 $799,317
1877-8 . ..... 282
61,706,681
39,116,073
2,422,394
871,810
1878-9..... . 282
65,403,019
44,996,094
2,485,977
994,7B5
1879-~0... . 282
77,081,998
61,707,305
2,905,056 1,084,927
1880-1...... 282
83,411,100
63,099,873
3,094,273 1,124,600
-(V. 29, p . 537, 629: V. 30, p. 144; V. 31, p. 45, 509; V. 32, p. 15
687; v. 33, p. 527, 561.)
Eastern (N. H.)--Sept. 30, 1830, owned from Massachusetts State
Line to Maine State Line, 16 miles. It was formerly leased for 99 years
to the Ea.stern (Mass. ) Railro:1d, and a new lease·was made from Oot.
.1, 1878, for 60 years and two months a t $22,500 per year, equal to 4¼
per cent per annum. Moody Currier, President, l\Ianehester, N. H.
.
Easf.ern Shore (J[d.)-Dcc. 31, 1880, owned from Delmar t-o Chrisfield,
Md., 38 miles. The road wa,s sold in foreclosure Fen. 19, 1879, subjeol;
to the first mortg~cre. George R. Dennis, President, Kingsland, Md. Act
passed Logislature of Md., and signed l>y Governor (April, 1880,) to reorganize road. Stock, $450,000 (partly com. and partly pref.), in sharea
of "$25. Pref. to receive 6 per cent dividend before any is paid on com. J
Eel River.-Dec. 31, 1880, owned from Logansport., Ind., to Butlee,
Ind., 94 miles. TWs was formerly the Detroit :Eel Riv-er & Illinois RR..
sold under foreclosure July 6, 1877, and reorganized under pre.ient
name Dec. 10, 1877. In August, 1879, it was leased to the Wabash St;.
Louis & Pacific Railroad, at a r ental of 3 per cent per annum on the
stock for two years. 4 per cent for three yea.rs, and 412 per cent thereafter. (V. 28, p. 2'76; V . 29, p. 226; V. 31, p. ~04.)
Elizabeth City cf: N01'folk.-The section of 45 miles. Norfolk, Va., tQ
Elizabeth City, N. C., was completed prior to June, 1881, and the extee.sion to Edenton, N. C., was in progress.
Elizab,.thtou:n Lexington cf: Big Sandy.-The milea,g e of the road will
be as follews: Owned-Loxington to Mount Sterling, 33·6 miles; Mount
Sterling to Straitsville, 66 miles; Ashland to Big Sandy Bridire, 8 miles.
Leased-Straitsville to Ashland, 20 miles; Big-Sandy Bridge to Huntington, 7·5 mil~,a. Total owned and leased, "!.35·1 miles. It is the conneoting line of the Chesapeake & Ohio a.nd controlled by the same parties.
The authorized issue of bonds is !f3,500.000, wWch will be negotiated
only as 11ortions of the road are completed. Authorized capital of tho
company is $5,000,000. (Y. 29, p. 66; V. 31, p. 405, V. 32, p. 544.)
Elmira Jefferson cf: Oanandaigua.-Deo. 31, 1880. owned from Can&nd aigua, N. Y., to J efl:e.r son, N. Y., 47 miles. The ron,d was forecl.:sed and
rP-organized under present name Feb. 18 , 1859. It wa6 leased to New
York & Erie for 20 years from :Jan. 1, 1859, and the lease transferred
to N. Cen. RR. in 1866 a.t a r ental of $25,000 pe.r year. Lease terminated Jan., 1879, and road now operated at cost by Northern Cen.
Elmira d': Williamsp01·t.-Dec. 31, 1880, owned from Williamsbar, Pa.,
to Elmira, N. Y., 76 miles. This company wa6 reorganized under the
present name Feb. 29, 1860, and leased to the Northern Central Railway for 9!l9 years from May 1, 1863, at a rental of $155,000 per annum
since J an. 1, 1880. The dividends on the common stock are 5 per cent;
and ou the preferred 7 per cent. Operations are included in the Northern Central returns.
E1·ie cf: Pittsb.-Dec. 31, 1880, owned from New Castle, Pa., to Girard.
Pa., 82 miles; brav ch , Dock Junction w Erie Docks, 3 miles; leasedGirard t o Eeie, 15 miles; total operated, 100 miles. Road opened in 1865
It was leased to the Pennsylvania. RR. for 999 yea rs from :Maroh 1 ,
1870, at a rental of 7 per cent on stock and interest on the bonds,
and the lease WaR transferred to the Pennsylvania Co. The lease has
been quite unprofitable to the lessees; in 1878 the deficitmcy paid by
the,m was $217,437; in 1879 $232,653 ; and in 1880 $242,819. Wm. L.
Scott is President, Erie, Pa.
RAILROAD STOOKS AND BONDS.
Snbscrlbers ""1.ll conCer a great Cavor by giving l:m:mediate notice oC any error disc_o vered In theae T~hles.
I
DESCRIPTION.
I M1les
. Date Size,
. or
INTEREST OR DIVIDENDS.
Bonds-.Princi.
·
pal,When Du~.
For explanation of column headings, &o. , see notes of
of
Par Ou~f=..,. Rate per ·when Where Payable, and by Stocks-L ast
on fl.rat page of tables.
Road. Bonds Value.
° Cent. Payable
Whom.
· Dividend.
- - · --- ---
Eut•op'n ct! N.A rn.-lst M., Bang'r to Winn.,Bang'r l'n
E1:a11svUle & T. Haute-Stock ($100,000 is pref. 7) .
1st mortgage, Evansv. & Ill., sink. fund ..... .....
1st mortgage., sink. fund, (Evnm,v. to T.H.) .......
Consol. ruort., gold (for$ 3,500,000) ...... .........
Evansville I'erl'e Haute ti: Chic.-lst mort., gold ....
Fi~~h~~~~ific:~!~:.·.·.·.·_·.·.·_-.·.·_-_-::::::::::::. _- _-_- _-:: ::
Bonds, conpons, ($:'l,500.000 authorized) .........
Fl-int ti: Pet·e Marquette-Preferred stock . .... ... ... .
Reorganization mortgage bonds, gold ............ .
lRt mort., land ,grant (to b e paid l\Iarch, 1882) ...
Flint & Holly RR. (sink'g fund. $25,000 per year).
Bay City & E. Saginaw, 1st mort., g-uar ny lessees
Bay County, issned in aid; guar. by lessee!! ...... . ..
Holly Wayne & l\Ionroe. 1st mort., sinking fond.
Florida Centt·alr--lst mortgage, g-old, ·coupon ... ...
Fonda Johnstown cf; Gloversville-1st mortgage ... ..
Consol. morrga\!e . .. . ..... _.........................
Ji'ort Madison ct: Nm·thwestern-lst mort., gold .... . .
Fort Wayne ct: Jackson-Pref. s~ock, 8 per cent ......
Vommon stock ............................... . . . ....
Fml Wayne Cincinnati cf: Louisville--Stock .. .... __ .
Fort Wot·th cf: Dcnv~1·- l st mort. ($20, 000 per mile )
Frederick~ Pennsylvania L ·l ne-lst mo1tgage .....
Ft·emont Ellclwrn ct Mo. Valley-- lst mortgage .....
~1~~~t:JJ'~ .·: :: ::::: :: .·.-.·.-.-.·.·.·.·: :::: :::: :: ::: ::::
Galveston ffarrisb.cf: S.A.ntonio-lst mort, gold, 1. gr.
2d
ortgage ... . .............. _.. ... . _. . ...........
Galveston Houston ct Hend. of 1871-lst mort ......
Geneva Ithaca cf: Sayre-1st mort., s. f ., gold . .. .. ..
<J:un·nia Pacift<r- . ........ . . . .... . _.. .. ...............
56
115
51
109
144
.55
55
189
---·
317
28·;
190
17
13
----
65
59
10
26
100
100
100
109
-···
28
$1,000
50
··- ·
1,000
1852
1854
1,000
1,000
1876
1860
1 ,000
1872
1,000
100
---'74.-7-9 1,000
.....
1880
1868
1868
1 867
----
1871
1877
1870
1830
188 0
--- ·
....
.....
. .....
----
l\fer:
1,000
1,000
500 &c.
500 &c.
500
1,000
1,000
100 &c.
100 &c.
50G &c.
.....
.. . ...
.. ....
·---
('/)
....
---51 1871 500 &o.
39 1879 500 &c.
51 1876
256 '71-'80 1,000
1,000
226 1880
1,000
50 1 872
35 1870 100 &e.
-·-·
.... .
----
·--·
European ct North A.mericat1.-Sept. 30, 1881, owned from Bang;or ,
Me., to Vanceboro (State Line), Me .• 114 miles. R oad was worked in
c onnection with the St. J oh'l & Maine, ma.king an unbroke n line from
Bangor, Me., t o St. J obn, N . B ., 205 miles. In l 875 default wa.s made,
and a. new company was orga.n.ized October, 1880, whioh issues new
stock for the land grant morti;age ($2,500,000) . The company had
a l and grant of 750,0 00 acres in the State of Mn.ine. In the year ending
Septembe:i; 3 0, 1881, t h e g-ross ear n ings were $177,937 and n e t earnings
$79,768. (V. 31, p. 429; V. 33, p. 62 1 .)
·
Evansville cf: Te-rre Haule.-V. 33, p . 4 67, 5 0 2.
Evansville Terre Hau te cf: Ohicago.-June 30, 1 880, owned from Terre
Haute J unction, Ind .. t o Danville, Ill., 49 miles; leased, 6 miles; total
operated, 55 miles, I t uses 6 miles of the track of tlle Rockville Extens ion into Terre Hai1te; also leases the I ndiana Block Coal road. 14
miles. On April, 3 0 , 1 880, a l ease to the Chicago & .Eastern Illinois
'\Vas made for 999 years ; terms, $ 7 5,000 per annum and the assumption
by the C. & E. I. of all rentals and taxes paid by E. T. H. & C. The
bonded interest was r educed to 6 per oont and preferred stock fo r $100,_0 00 issued for overdue coupon.s. Earnings for three years past were:
'Y ears.
Miles. Gross Earnings. Net Earn'gs.
$222,782
$98.233
1 876-7 . . . . . . .. . . . . . . . . .. . .. . . . . . . .. . 55
1877-8 ····-··· · ····· •· · - ·· .. -· .. ···· 55
209,673
77,224
1878-9 .. . . . . .. . . . . . . . . . . .. . . .. . . . .. . 55
242,896
94.236
-Josephus Collett, President, Terre Haute, Ind. (V. 30, p. 221, 298.)
Filchburi-Sept. 30, 1880, owned from Boston, Mass., to FitcbburR.
lUo. as. (double track), 50 miles; branches-Charlestown, 1 mile ; Nonh
Oambridge to Waltbarn, 7 mi.Les; South Acton to Marlborough, 12 miles;
Peterborough & Shirley, Ayer, MasR., to Greenville, 24 miles; leased
and operated-Vermont & Mass. ·RR., Fitchlmrg to Greenfield, 'i6
miles; Turners Falls Branch, 3 miles; Troy & Greenfield RR .. Gref'.11fl.eld t o :North Adams, 37 miles ; total, 190 miles. The Troy & Greeuti.cld ·
RR. and the Hoosac Tunnel, owned by the State of Massachusetts, have
been operated by this company, and are now contracted to it for seven
years from Sept. 30. 1880. In 1878-9 n et income above rentals and
mte 'est was $279,740; in 1879-80 it was $383,635, Operations ancl
~arnmgs for five years past were as follows:
Passenger Y.rei~ht (ton)
Gross
N et
Div.
Years.
Miles. Mileage.
Mileage.
Rec1:>ipts. R evenue. p.ct.
1876-7 . .. . .. 1 52 30,690,340 53,224.,939 $1,920,413 $H2, 179
6
1877-8 ...... 152 32,266,503 68,041,193
1,937,934 34.7,620
6
1878-9 . . .... 152 35,094,145 92,832,640
2,079,973
379,202
6
1879-AO .... 190 39,752.302 109,323,290
2,4fi.!,598
498,831
8
18S0-81 .... 190 42,8 54,04.7 ll4,507.fll6
2,655,829
290,581
3
-(V. 28, p . 17,526; V. 29, p. 41. 67,537; V. 80, p. 42 ; V. 31, p. 204;
v. 32, p. 43,334; v. 33, p. 622, 685.)
Flint & Pe-re Marquette.-Dec. 31, 1880, owned from Monroe, Mich., to
Luddington, Mich., 253 miles; branches-Bay City to EMt Saginaw, 1 2
mil~s ; Flint Junction to Otter La.ke, 15 mil.es; St. Clair branch, 4 miles;
S1;tgpiaw. & Clare Co. RR., 16 mile~ ; Mam stee branch, 3 miles; leased,
Sagmaw & Mt. Pleasant RR., 15 miles; total operated, 317 miles. The
compa,~y made default on the consolidated bonds, November, 1875, ana
part of them w ere funded. A Receiver was appointed in June, 1879;
the 1·oa.4 w3:s sold .A.ug. 18, 1880, under the consoliclated mortgage, and
reorga_ruzat10n was made and pret'errecl stock ($6,500,000) issued for tne
~onsol1dated mortgage bonds, and common stoek ($3,500,000) is to be
issued for the old stock. The common stock has no present right to voto
or to receive dividends, and will be i ,sued only aftei: the preferred
stock~1olclers have received 7 p er cent yearly dividends for five consecutive y ears. The preferred stock is not cumulative, and after 7 per
cent per annum is paid on b 1th olasse1 of stock, the balance of income,
if any, is to be divided mtably. On J an. 1, 188 1, the land notes on
hand .for lancls sold were $977,588, and lands yet unsoid 159,356 acres.
Earnings for three years past w er e as follows :
Years.
Miles.
Gross Earnings. Net Earnings.
1878.. ... . . . . . . . .. . . . . . . . . ... . . . 280
$1,05G,Ol 7
$388 ,786
1 879 ..... . ............. . ....... ; 307
1,151,201
405 ,289
_J 880 ......... - .. ................ 317
1,599,62-1
455,687
~cv. 30, p . 91. 117,518,648; v. 31, p.115, 204,228,305,381,558; v .
32, p. 288, 575 ; v. 33, p. 254. )
------- ----- - - -·
.r. & J. Bost., Merch. Nat. Bk.
$1,000,000
6
1\1. & N.
Company's Office.
2
3,000,0t:O
7
281,000
.r. & J. N.Y. ,Farm. L'an& T.Co.
7
611.000
M. & N.,
do
do
6 g. .T. & J.
do
do
2.078,000
775,00U
6 g. M.&N. N.Y.,Farm.L'an & T.Co.
325,000
6 g. J. & J.
do
do
J. & D.
4,500,000
3
Boston, Office.
1,500,001) 5, (3 &7 A . & 0.
do
G,500,00U
3
(i g. A.·& ·o . N. Y.,
.ri:i::ifat. Ilk.
2,093,000
;\[. & S. N. Y., Meehan. Nat. B'k.
25 :1,000
8
l\I. & N.
300,000
10
do
do
.T. & J. Newark. N ..T.. Sav. Ins.
100,000
10
M.& 8.
75,000
10
New York.
8
•T. & J. N.Y .. Meroh. Nat. Rank .
1.000.000
J acksom·ille, Fla.
309,000
7 g. J. & J.
7
300,000
J. & J. N. Y., St. Nich. Nat. B'k.
200,000
A.. & 0.
do
do
G
700,000
7 ~. A. & 0. N.Y.,G.K. Sista.re's Sons
2,000,-000
....
212
---------. ....
......
. ........ ... .
700,000
. .........
4,000,000
.. ..
. ...
1 869
2 50,000
690,000
312,000
317,082
4,800,000
1,000,000
1,493,000
600,000
0) .
--·f, ·
,A_-&·o .
A. & 0 .
A . & 0.
A. & 0.
Hg. F. &A.
J. &D.
7
7 g. .•T. & .T.
7 g. J. & J .
7
7
7
-···
. ...
· -· ··· · ···
Pennsylvill.lia RR. Uo.
N. Y., Nat. Park Bank.
do
do
do
do
N .Y.,D.,M.&Co.,&Lond.
Boston and London.
N. Y., F . P. J aroeR & Co.
N. Y., Metrop. Nat. B'k.
. .. ........
Jan. 1, 1-894
Nov., 18 91
Jan. 1, 1887
Nov. 1, 1887
July 1, 1921
Nov. 1, 1899
Jan. 1, 1902
Jan . 2. 1882
18l:J4, '97 & '99
J a n. 16,1882
Oct. 1, 1920
Sept. 1, 1888
May 1. 1888
July 1, 1882
Sept. 1, 1887
Jan. 1, 1-901
Jan. 1, 1907
July 1, 1900
May 1, 1920
Atiril 1, 1905
July 11, 1881
------- -
.. i90()'
1901
1899
1886
Feb. 1 , 1910
June 1, 190.'>
.Tuly 1, 1902
J uly 1, 18·90
Ia., 100 mil.es. Under construction, and bonds sold in New ~ o rk
1881, by G. K. Si-;taro's Sons. (V. 31, p. 154.)
·
Fort Wa1J1M dJ Jaclcson .-Dec. 3 1, 1880. owned from Jackson, Mich .. to
Fort Wayne, Ind, 100 mil.es. This road is suooessor to the Fort Wayne
Jackson & Saginaw, wllich made default on its b onds and was sold in
foreclosure D ec. 3, 1879. The 8 per ce nt preferred stock was issued in
place of the old fl.rat mortgage bonds and interest. and the common stook
in place of the old se.cond mortgage bonds. (V. 28, p. 199, 300; 'f. 29, p.
301, 631; v. 30, p. 43.)
Fo-rt Wayne Oinoinnati a: Louisvitle.-From For t ·Wayn-e,".Jnd., to Connorsville, Ind., 109 miles. The Fort Wayue Muncie & Cincinnati Com pany default ed and a. receiver was appointed Nov. 1874. The road
was sold in foreclosu.re. July 27, to Elijah Smith, for the bondholders, for
$1,000,000. The bondholders reorganized under this name. (See plan,
V. 32, p . 577.l Eli.lah Smith, President, Boston, Mass. (V. 30, p. 192;
v. 32, p.121, 577; v. 33, p . 100, 153.)
Fort Worth & Denver-Road projected from Fort Worth, Texf\,s, n orthWCRt to tho Cn.uadian River at a junction with the Atl. & Pacifl.o. Built;
by Texas & Colorado Irnprovernent Co., G. M . Dodge, Pl't'siclent. (V.
3'3, p. 384, 716.)
Frederick cf: Pennsulvania Line.-De<'I. 3 1, 1880, owned from Kingsd a.le
to Frederick City, Md .. 28 miles. It is len.~od to Pennsylva11ia RR.,
which pays interest on first mortga~e. Preferred stook held by Penn•
sylvama RR., $460.000; .common swok, $312,528. Charles E. Trail,
President, Frederick City, Md.
Fremont Elkhorn <f: Missouri Valley.-Fremont to . Oakdale, Neb.
110 miles. Leased to Sioux City & Pacific Railroad. Tlie rental is 3313
per cent of grosa carning.5. Stock, $846,000. James Blair, President,
Scra.n ton, Pa..
Gal--,,eston Harrisburg d! San Anton.fo.-Dec. 31, 1880, owued from
Harrisburg, T ex:., to San Antonio, T ex., 215 miles; Houston to Harrislmrg, 11 miles; Ln,~ra,n~e Extension, 30 miles. Total operated, 256
miles. Extensions m tne Rio Grnnde and to El Paso in pro~ress.
'l'his was a successor to tho Buffalo Ba.you Brazos & Col. Raitway.
Tlie ron.d was ope ned to Srm Antonio March 1 , 1877. The gross earnin.~s in 1879 were $1,390,679; net earnings. $818,766. In 1 880, gross,
$r,3!l2,><90; net, $799,16°!. 'fhe capital stock is $8,450,000, of whioh
$4,638,794 is pa.id in and $1.811,205 is represented by lands and bonds.
'l'he bills nayable D ec. 31. 1879. w or e $288,593, and tho debt d ue thQ
Sohool Fund of T exas was $865,842. The first mortgage covers tllo
property and about 1,800,000 aores of lan~ . . The proceeds of land
sales are u sed to rC'.tire the bonds, and a smlnng fund of 1 per OOll.t
l>ogins in 1880, b ut it is option a l with bondholders t o surrender their
bonds, if drawn. In June, 1881, a oontrollin" interest in the stock was
bou~ht by Soutllern Pu.oifio parties. The lancl grant is sixteen sections
(10,:.::40 acres) per mile. (V. 30, p. 144; V. 31, p. 305, 453; V. 32, p. 334,
660; v. 33, p. 75, 528. ,
Gal'l>CSton Houston, ct: Henderson of 1871.- D ec. 31, 1880, owned from
Galveston, Tex .. t o Houston. T ex., ·50 miles. The road was opened in
1853-4 and sold in foroclosuee D ec. 1, 1871, and reorg a.nized. Mortgage
debt at d ate of sale w~s $5,750,000. Some of the coupons remained unpaid in tbe bands of parties interested in the road, and in 1879 a foreclosure suit was b'Ct,"'ll..n by N. A. Cowdrey, one of the trustees of tho
mortgage. In February, 1880, Mr. I srael Corse, of New York, was
elected President, and in J11ly the comp any d-efaulte d on its intereat.
Ron.d placed in trustee's hands in September, 1880. (Boe V. 31, p. 3 05 ,)
The stock is $1,000,000 OperatioD.B and earnings for t h ree years :
Pa-ssengcr
l<'reight (ton)
Gross
Net
Years. Mileage.
.!'iiileage.
Earnings.
Expenses.
Earnings.
1878 .. 2,213,944
8,430,962
$195,44.0
$290,385
$20 5,065
1879 . . 2,416,653
9,928,275
536,847
3 07 ,286
229,560
18d0 . . 1,990,108
7,492,133
346,462
294.525
61 ,93'7
-(V. 31, p. 45,259,281, 292, 305 ; V. 32, p. 312,50 0, 577; V. 33, p. 441 ,
50 2.)
Geneva Ithaca <f; St't.yr e.-Sept. 30, 1880, owned from Geneva, N. ~.,
Sayre, Pa., 76 mil.es; branch, Ith.a.ca., N. Y., t o Cayuga, N. Y. , 38 miles ;
total operated, 114 miles. Organized Oct. 2, 1876, as sucoessor of the
Geneva Ithaca & Athens RR., which had been formed by oonsolldation
of tho Geneva & Ithaca and Ithaca & Athens r ailroads, May 25, 1874.
Iu 1880 absorbed the C.aynga & South. RR., 37 m~es. T hQ G. I . ~ A .
hn.vin"' defaulted on its interest was placed in the hands of a Recoiver,
March 4 , 1875, and the road was sold in foreclosure Sept. 2, 1876 , and
this eompanyoro-anizcd in the interest of the Lehigh v aµey RR. _T he
stock is $850,000 com., a nd a lso pref. stook of $850 ,000 18 a uthor1ze.d.
G.r oss earnings in 1878-9 were $302,572; expenses, $<.175,423 ; defl.e~t,
$172,850. Gross m 1870-30. $:HS,46 -1; expenses, $427,999 ; d eficit,
$ l09,535. R. A. Packer is President, Sayre, Pa.
to
Fto-r:lda Oentral.-Owned from J acksonville, Fla., t-0 Lake City, Fla.,
50 nules. In March, 1868, t he old road was sold by the trustees (the
Florida Atl.antic. & Gulf) and t his company organized July, 1868. The
gi•oss earmngs m 1877-8 were $163,892; net earnings, $41,319 . . The
road W3i! ordered sold Sept. 15, 1879, to satisfy a claim for $197,000 and
9 years• mtercst, made by foreign holders of State bonds issued in exchange for bonds of this company. E . M. L'Engle, President. J ackson•
ville, Fla. (Y. 28, p. 599; V . 32, p. 100,331; V. 33, p. 124, 527.)
F<mcla Johnstown cf: Glovenville.-Sept. 30, 1880, owned from Fonda,
N . Y., to Gloversville, N. Y ., 10 miles ; leased, Gloversville & Northville
RR., Gloversville to Northville, 16 miles ; total opemted, 26 miles. Road
open.etl Dec. 1, 1870. The stoek is $300,000. Net earnings, after deductmg inte rest and rentals, in 1878-9, $16,285; in 1879-80, $33,359.
W. J. Heacock, President, Gloversville, N . Y.
Georqia Pacific.-Projected iine from Atlanta t o Mi.ssis&ippi River.
Fort 1-Iadison ti: -Nm·thicestern.-Owned from Fort Madison Ia., to Built by P..iclJJnoud & Danville Externsion Co., which has $5,000,000
; West Point, Ia., 11 miles. Projected line, Fort Madi.son to Oscaloos-a., suuscribed capital. See V. 33, .J?, 201.
·
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,,.
DBCEMBER,
1881. I
RAILROAD STOCKS AND BONDS·.
xxxi
Subscriben will confer a great favor by giving bnmedlate notice oC any error d1&c-0vered ln OJese Tables.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Bonlls-Prinoi
D a te Size, or
Amount . •- - - - - - - - - - - - - - - - - - p t.l,Wh eu Due.
of
of
Par
Outstanding Rate per When Where Payable, an<i by Stoek~L&-at
Road. Bonds Value.
Cent. Payable
Whom.
.
Divu-1.end.
- - - -- - - - - - - - - - - - - - - - - - 1 Miles
For explanation of column headings, &o., see aote 8
on fl.rst page of tables.
Georgia Railroad & Bank"ing Oo.-Stook ..... ...... .
~g~~:: ~~: :g~:ij:· ·.·:.-.·::.-.·::..::::::::::::::::::
•Ma.eon & Augusta, 1st mortgage ................. .
Grand llapids & Indiana-Stock . ........... ....... .
1st mort., land gi:ant, gold (guar. by Pa. RRJ .... .
1st mort., gold, ($1,859,000 are land grant) .. .... .
income mortgage bonds, for $10,000,000 ........ .
Greoo Bay Winona cf; St. Paul-1st mort. <''?Ilp . . • ..
2d mort. iuoome bonds, rei., non•ou urnlat;1vc . ....
Guif OolorruJo cf: SantaFe-.1st M., g. ($12,000 p.m.;
Hanni bal & St. Joseph-Common stock ............ .
Preferred stock (7 p. o. yearly, not oumulati ve) .. .
Bonds 1870, convertible .... ...................... .
Bonds Recured by l11nit notes ............... .. . . . . .
Consolidated mort. (for $8,000,000) ......... .... . .
1st mortgage (Q.uinoy & Palmyra .tlR} . ....... .. . .
1st mortga,g;e (Kansas City & Cam. RR.) .. .. : .... .
Ha,rriso. Portsm'th Mt. Joy dl Lanc.-Stock .... ... .
1st mortg age .... .. ........................ . ....... .
Harri.shurg cf: Potomac-1st mortgage, coupon ..... .
Hartf'r'l•d ~ llnnnecliciit Valley-Stook .............. .
Hart.ford & Western Oonnccticut-lst mortgage . ... .
Bousatonic--Btook ................... .. ... . ...... . . . . .
Preferred stock ...... .. ....................... .... . .
1 st mortgage. coupon ............... . ............ . .
2d mort. oouds of 1 869 ......................... .. .
3d mort., rog-. . . . . . . . . . . . . ....... . ............ . .... .
Equipment bonds of 1873 . . ............... . ..... .
Houst . .Nast& West Texas.-lst mortga~e, gold ... ..
Houston & Texas Oent.--l st.M., (main) gold, l.gr.,s.r.
1st m-0rt., 1. gr., West div. (HewpateJ),d to Austin}
1st M., gold.Waco & N'west (Bremond to Ross) ....
Con.sol . .;:;.;-;-t., land grant, Main and Western Div.
do
do
Waco & Northwest .... .
Gen. mort., gold (for $18,500,000)..... . ... .. ... .
--·- - - - ----1------1----807
77
832
332
332
332
219
210
J20
202
202
2oi
15
53
54
M
28
44
67
120
eo
74
76
34.5
119
58
464
5~
522
$100
77&80
1 867
i869
1869
1875
1881
1881
1879
1 870
1878
1881
1 867
1853
1 874
1871
1870
i865
1 869
1880
1873
1878
1866
1870
1873
1872
1875
1 681
$1,200,000
327,000
2,000,000
4.00,000
5,000,000
4,000,000
2,957,000
1 ,04::l,OOO
1,(j.oo,oool
3,781,000
3,84.0,000
!J,168.700
5,083,024
4,000,000
1,000
307,000
1,000
3,000,000
433,000
1,200,000
fl()
1 ,182,550
500 &c.
700,000
100 &o.
507,200
1,000
800,000
500 &o.
3,200,000
100
820,000
1,180,000
100
500 &o.
100,000
500&tl.
300,000
500 &c.
300,00 0
500 &c.
1 50,000
1,000
532.000
1,000
6 ,262,000
1,000
2,270,000
1,000
1,140,000
1,000
4,117,000
l,P0O
8-!,000
1 ,000
4,000,000
500
1,000
1,000
100
1,000
1,000
1,000
1,000
1,000
1,000
100
100
219
7
6
7
Q. - .J. Augusta,Ga., RR. Bank. Jan. 15, 1882
J. & .J.
do
do
Yearly to 1800
.J, & J.
do
<lo
1897 & 1910
J. & J.
do
do
1887
..7.g.
·is9i/·
J ..&.. J. N. Y., 'Tilii·dNat. B ank .
7 g. A. & 0. N . Y., Winslow,L.&Co.
1899
U)06
M. & S.
do
do
7
F. & A.
New York City.
F eb. 1, 1911
6
'.\'£. & N.
<lo
do
May 1 , 1911
8
7 g . J. & J. N.Y.Nat.CityBk.&Galv. July 1, 1909
··sig
8
7
6
8
10
3¼
R
7
7
7
2
7
6
5
7
7
7
7
7
8
g.
g.
g.
g.
8
6 fr.
Oompaii?s
Aug.. ·i;. i881
F .. &A. N. Y.,
Office
M. & S.
do
do
J. & J. N. Y., Farm. L. & T. Co.
~. & 8 . ·
do
do
F. & A. N. Y., B'k. No. America.
J. & J.
do
do
J. & J.
Phila., Co.'s Office.
.T. & J.
do
do
J. & J. Phila., Third Nat. Bk.
J. & J. N. Y., Am. Exch. N. Bk.
.J. & J. N. Y .• Met. N. Bank.
Mar., 1885
.Tau. 1, 1 888
Mar. 1, 1911
Jan., 1892
.Jan .. 1 92
Jan. 10, 1882
July 1, 1 ~83
J a n. 1, 1904
J an. 1, 1901
July 1, 1900
Q.-J. Bridgeport & Boston.
F. & A .
Brid geport, Office .
J. & .J.
do
do
A. & O.
do
do
F. & A.
Bridgeport.
M. & N. N. Y., Kountze Bros.
J . & J. N. Y., J. J. Cisco & Son.
J . & J.
do
do
J. & J.
do
do
A. & 0.
do
do
M. & N.
do
do
A. & O.
do
do
.J:ni: . .i882
Aug. 1, 1885
July 1, 1889
April t, 1910
Feb. 1, 1883
1898
July 1, 1891
.July 1, 1891
July 1. 1!)03
Oot. 1, 1912
May l. 1915
April 1, 1921
5:
Harrisburg Portsmouth llount Joy & Lancaster. - D ec. 31, 1 880,
171 Illlles; branches to Washington and AthenB, 60 IIllles; Warrenton, owned from Dillerville, Pa., to Ha,rrisburg, Pa., 36 milea; branch,
Ga., to Macon, Ga., 76 miles; total O.J?erated, 307 miles. The West• Middletown, Pa. , to Colwnbin., Pa., 18 miles; total operated, 54 miles.
ern Ra.ilroad of Alabama, purchased m Moy, 1875, a t foreclosure , The property wa.8 leased to the P ennsylvania Railroad Co. for 999
is owned jointly with the Central Railroad of Georgia. Tbe Macon years from Jan. 1, 1861, the rent-al being 7 per oont on the stock and'
& Augusta Railroad, 76 miles, is owned by tWs company. The Port interest on the bonds. Operated as a part of main line of Penn. RR.
Royal & Augusta Railroad is owned one-filth by this oompnny. In April,
1881, a lease for 99 years was made to W. M. Wadley and a.Rsocfaws at
Harr'isburg cf: Pi>toniac.-Deo. 31, 1880. ownod from Bowmansdalo to
$600,000 per year, payable scmi•annually, and dividends will be 212 per J acksonvill~. Pa., 25 miles; branch to mines, 2 miles; total operated, 27
cent quarterly from Oct. 1, 1881. ( V. 31, p. 429, 535; V. 3!:l, p. 69, 334, miles. Extensions are ·projected to Waynesboro and to Littlestown ..
396,420, 526, 551, 61 2.)
.
Road opened through in 1878. Bondi authorized, $1,800,000. Stock
is $369,175. C. W.Ahl, President, Newville, Pa. (V. 31, p. 652. )
Grana Rapids & Iruliana. -Dec. 31, 1880. owned from Fort Wayno
Ind., to Pet-0skey, Mieh., 332 miles; lea-aed and operatec1: Cin. Riehmond
Hartford cf: Oonnecticut Vallcy.-8ept. 30, 1880, owned from Hartford,;
&Fort Wayue RR.. 91 miles; Allegan & 8. E. RR., 11 miles; 'I'raverse Ct., t-0 Fenwick, Ct., 4 6 miles. Opened in 1 871 and 1 872. In hands of
City Railro;,wl, 26 miles; total, 463 miles. This road was opened in May, trnstees ·of first mortga"'e for some time, and reorganization made in
1874. For the terms of the lease of Cin. Rioh. & Fort Wayne Raih·oad- .Feb., 1~80, as the Hartford & Conn. Valley, with stock of $ 1.2?<),000
see that eompany in this SUPPLKMENT. Tho Grand Rap. & Ind. RR. is authonzed and bonds of $500,000. (V. 28, p. 41; V. 30, p. 116, 144;
operated in the interest of the Pennsylvania RR. Co., and $-!,000,000 of v. 31, p. 652.)
the fl.rst mortgage bonds are gun.ranteed by that company, whioh buys
the coupons each year that remain unpai <l by the earnings, and on Jan. · Harlfo·r d ct: Western. Connecticut.-Sept. 30. 18S0, the Connecticut;
1, 1 880, held $1,862,170 unpaid coupons. First mortgn,1~e bonds ·w estern owned from Hartford, Conn., to New Yorlr State Line , 67 miles;
redeemed by the sinking fund are replaced by income bonds issued. lensed 2 miles ; total operared, 69 miles. Gross eal'l\in gs in 1879·80;
The company had land grants amounting to 852,960 aores, and sold $238 ,810; n et, $15,5 63. Oapital stock, $1,890,100. Permanent property
in 1880 •lo,350 aores, for $757,990. The la,uds unsold were 576,007 $5,042,785. No bond interest has b een paid since Jn.n. 1, 1876. l!,oreolo•
acres. T he assets were $548,961 in hand.3 of tmstees; $ f!70,9il5 hills sure suit b egun in 1880, and the State Treasure r took possessiou. On
r eceivable, and eash with cashier, $123,019. Lu.ud sales in 1 88i for May 25, i 88 1, bondholder~ re-organize<l. and stook in new company is
nine months to Oct. 1, $454,382. Operations and earnings for four years issued for bonds. (V. 30, p. 192, 465; V. 31, p. 509; V. 32, p. 577; V. 33,
p. 23, n, 153.)
past were as follow s :
Pa1-scn ger
Frei.ght (ton)
Gross
N et
Housatonic.-Sept. 30, 1880, owned from Bridgeport. Conn., t6 State
Years.
Miles.
Mileage.
Milen.o-e.
Ear nings. Earning~. Line, Mass., 7 4 _m iles: leMed- Berks hire Railroad, 22 miles; West t:;took·
1876 . .. ... .. . 332
14,448,942
33,713,'586 $1,137,539 $316;507 bridge RR., 3 miles ; Stockbridge & Pittsfield RR., 22 mile,-, ; New- York
1877 .... .. . . . 332
13,d6:-l,997
35,633,459
1,097,1.07
348,745 Hons . & Northern RR., to D a nbury, Conn., G miles ; total, 127 miles. The
1878 . ... . .... 332
15,184,660
42,4 37,701
1 ,200,629
2-12,458 preferred 8 p er cent stook was issued in 1845 to :pay for laying the road
17,823,880
51,267,197
1,345,134
432,615 witll h eavy iron . The oompany has voted to issue $700,000 of 5 per
1 879 . ........ 332
- (V. 29, p. 146,299; V. 30, p. 91, 463, 6-!9; V. 31, p. 483,559; V. 32, cent bonds to take up $400,000 prior bonds , and to lay steel rails. The
road <1oes a steady business, as may lJE' aeon from the following state.
p . 155; v. 33, p. 47, 2~5, 622, 716.J
ment of its operations and earnings for five years pa.;t:
Green Bay Wi1wna dl St. , Paul.-Deo. 31. 1 881, owned from Groen
Net Div.%
Passenger Freight (ton}
Gross
B::i.y, Wis., to Marshln,nd, Wis., 209 miles; brauches, 10 miles; leased, Years.
Miles.
Milea.ge.
Maeage.
E arnings. Earnings. Pref
Winona to Ana.laska. 28 miles; total operated. 247 miles. TlliB wu,s 11
$238,413
5-6....
1
26
6,057,566
14,557,208
$655,236
187
r eorganization in 18 81 of the Green Bny & Minnesotn , whloh company
223 ,989
8
5,869,968
11,658,923
5 88,166
made default and the road was sold March 12, 188 1. See full staterneat 187fj- 7 . .. . 1 26
208,253
8
6,162,502
11,528 ,000
569,198
of d ebt and plan of r eorganiza,tion in CHRONICLE , V. 31, p .453. Pref. 1877-8 .. . . 126
248 ,420
8
6,310,830
12,74 1,554
598,335
Eltock is $2,000,000, and entitled to 7 per cent; when earned, and com• 1878-9 .. . . 126
247,283
8
1879-80
.
.
126
7,325,680
17,890,190
7
4
0,997
:i;uon stock $8,000,000. In 1880·81 net earui-ngs were $114,106. (V.
32, p. 6-9, 100, 368, 396,636; v. 33, p. 441, 5 80, 587, 641.)
-(V. 30, p. 273, 464,500; V. 33, p. 559.)
Gulf OoLorado cf; Sanu,, Fe.-April, 1881, roa<l bnllt from Galve1,ton to
Hoiiston .East & West Texas.-Dco. 31, 1880, owned from Houston, T ex.,
Belton, Texas, 226 miles. Road opened late in 1878 (63 miles}, :mcl sold to Livingston, T ex. , 76 miles. (Narrow gua.ge, 3 feet.) It is intended to
nnd reorganized April 15, 1 879. An extension is in progress. Stoclr, build to Ma rshall. The _oompaay h as a Texas la nd grant of 10,240
$1,250,000. (See r eport in V . 32, p. 12. and April 30, p. 4 of. advertise• a cres for eaon mile constructed and equipped. Bonds issued to the extent
ments) Georg_e Sea~y, Preside11t, Gal.vestol}, '.rex a s . (V. 30, p. 408; v. of $7,000 p. m . Paul Brem ond, Prost., Houston. (V. 30, p. 467, 544.)
31, p. 347; v. ;:s2, p. 312; v. 33, p. 47,470, 002 .)
Hanston & Te,xas Oentrat.-April 30, 1880, owned from Houston. Tex:.,
Hannwal <I: St. Joseph.- December 31, 1880, owned from Hannibal,
Mo., to St. Joseph, Mo., 205 miles; br:¥}ches-Ca,me1·on to Kansa,s City, to Denison, T ex. , 34.1 miles; branches-Hempstead, T ex., to Austin,
53 miles; St. Joseph to Atchison, Kans. , 10 miles ; P a lmyra to T e x., 115 miles; Bremond, Tex., to Ross, T e x ., 54 miles ; operatedQuincy, ill, 14 miles; total operated, 292 miles. The ma.in line was Texas Central Railroad, Ross t-0 Morgan, 43 miles; total o perated, 553
opened February, 1859. The company had a Congressional land miles. Opened March 11, 1873. The Austin Branch, or Western Div.,
grant and received $3,000,000 in bonds from the State'of Missour1, on was ope n ed in 1871. The company ha.s a land grant from the State of
which the c-ompany pays interest. On Jan. 1, 1 881, the company had T exas of 10,240 acres per mile, amotmting to about 5,130,720 acrea;
58,081 aC'res of land unsold and 36,003 a cr es on which contracts were but the lands, as in the case of other Texas roads, are not 011 the line
canceled. The l:1.11<1 notes are pledged as security for the bonds of 1878. of the roa d, aud m uch of the land will be made available, it i s reported,
PrefeITed stock has prior ri~ht to a uon•cumulative dividend ot 7 p er by the construction of the Texas & Paoi:fl.o line. The capital stock ia
$7,722,900. In 1877 the company wa.s embarrassed and a11plioatiou
cont; then oommon to 7; then both share. Prices of stock a,s follows :
was made for a Receiver; but the difficulties w ere adjusted by the issue
,-----Common.-----. ,..----Preferred.---~ of income and indemnity bonds (pa id off Jnl.V, 188-1), a nd Mr. Morgan,
1880.
1881.
1 880.
1 881.
of
tlrn Louisiana SS. Line. bouo-ht a nontrollin&" interest in the stock.
J~nnary ... ..
42 • 3334
57 14· 4434
7 212. 64
110 •10012 The general mortgage of 1 881 fo r $18,500,000 1s made to the Farmers~
February....
-!219· 3 8¾
61)14. 4712
76 • 6$P4
10758· 94
Loan
& •.rrust Co. as truste~. La.st report of earnings g-a.ve the follow.ing:
Marolt.... ..
40¾· 3 5 14
59¾· 515s
75 . 6958
10578 . 9G
Gross E a rn'gs.
N et Earn'irs.
April.... .. ...
3714· 31
5934 56 14
7312- 65
105 ·:i.00
18 80 . . ..... . . . .. .......... .. ...... . .. ,._, . ... . $3,74.l,OOO
$1,7 3 H,677
May.........
,34 • 2 2 79
85 · 855s
7214· ti319
116 ·104
1879......
.
.....
..
....
.
..
.......
.
.......
....
3,205.684
1,431 ,913
1
June.........
355s· 2 4. 4
93 • 82
75 - 67
116¼·112
1,168,,9 57
Jnly... .. . . . .
36 14· 3i.3s
J 4 S4. 81)79
x73 3 a· 6 8 79
11 8 •x.1 0714 1 87 8. .. . . .. . . . . . . . . . . . . .. . . .. ... . . . .. .. . . .. . . 2,920,996
August......
42¼· 34
HS • 91
8Gua· 71¼
11712-11114
No ot b er annual statement bas been published, and the followiug is
September..
4458· 3 G3s
350 • 9 -l ½
8(i7s• 79
· 121 •112
the gen eral balance December 31, 1880:
October. ... . .
4314· 37¼
100 • 83
9019. 8014
117 •111¼
GENERAL BALA.-..CE, D ECE~IBER 31, 1880.
November...
4.5 • 39
OG5s· 94
D-Ps· 8ti34
114 7s·l09
December.. . .
507s. 4034
... ... ·····105 . 91
.... . ..... . . Construction & eqn1p. $24,058,521 Capital stock.......... $7,7~6.900
Real estate.... . . . . . . . .
9 83,176 Funded debt. ... . . . . . . 1 5 ,234,500
Em-rungs o.nd opera.tions for :l'our yeru·t3 have b een as follows:
State lands ............
5,4!)6,82 : State school fund loan
292,786
Pa.5senger
~ eight (ton)
Gross
Net
s,mdry seetrrities... . .
558,981 Bills payable.. . .......
1 ,731,045
Yoa.:rs.
Miles.
.Mileage.
l'di.leage.
Earnings. Earnings Ma terials aud supplies
~40,346 Interest a,ocrued .. ....
99,010
378 ,0~4 1 Pay•rolls,vouohers,&o.
. ~30,030
1877.. .. . . . . 292
1 5,639,718
80,764,682
1,931,365
795,479 Bille receiv. and cash.
Current
accounts..
...
213
,500
Surplus.......
.
.
.......
6
,615,184
1878 . ....... 292
' 19,108 ,676 100,012,71G
2,045,450
780,355
1879........ 292
21,545,368 111.987,174
1,997,405
77;:l ,!-183
Total.. ........ . ... $3~,02~,457
Total ............. . $3 1,029,457
1880 .. ...... 292
19,925,0-U 120,665,740
2 ,561,390 1,256,800 - (V. 31, p. 328, 3 49,672; V . 32, p. 414, 4.88, 578, 612, 685; V. 33, p.
- (V, 32~ p.15.,100,145, 310, 420,658; V. 33, p. 73,298,303, 687.)
40-!.)
Gc<>rflia Railroad & Banki1YJ Oompany.-Augustn, Ga.J to Atlanta, Ga.,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
a
I
RAILROAD STOCKS AND BONDS.
xxxii
(VOL. XXXIIL
S11btJcrlben will couCer a great Cavor by giving lmmedlate noitce oC any error dlscovered In these Tables.
I
INTEREST OR DIVIDENDS.
Bonds-Prln~i
- - - - - - - -DESCRIPTION.
- - - - - - - - - - - - - - 1 Miles Date Size, or Amount
.
pal,When Due.
For explanation of column beadings, &c., see note ,
of
of
Par Outstanding Rate per When Where P-wiiaple, and by St~-Laat
on first page of tables.
_R_o_a_d_. _B_o_n_~ _!_a_lu_e_. ·• - - - - Cent. Payable
om.
Dividend.
Himt·i ngdon & Broaci Top..:.....l s-t mort., gold ..........
58
2d mortgage, gold ... .. .............................
58
3d mortgage ,consolidated .........................
58
Illinois Oent1·al--Stock ............. . ....... ........ .. L,320
Mortgage bonds, sterling ................. . ........ 706
Sterling bonds, (sinking fund £20,000 yearly) .... 706
Mortgage, sterling . ........... .. ............ .. ...... 706
Bonds, coup. ($2,000,000) M. on Ch. & So. RR .. .. 111
:Bonds, r1. ($200,000) , mort. on Midule Div . ... . . 101
Illinois Mi ,land-- I st mortgage, gold ...... ... ...... 147
Ind·iana Bloomington cfJ West.-Stock .... ........... . 542
1st mort., pref., coup. or reg ...................... 202
1st mortgage, coup., may l>e r eg .................. 202
Income bonds, reg., convertible .... .. ............ 202
2d mortgage, coupon or reg.··:.:·.· ................ 202
1st mort~age, gold, E.tstern D1v1s10n . . .. ..... .... . 140
lndianapo is Decatm· ct; Springfieldr-lst mort., gold 152
2d mortgage, gold ........... ... .................... 152
Ind,. d: Evansv.-Iat M., gold (for $3,380,000), $ & £
Indianapolis cf: St Louis-lat mort., in 3 series ..... . 72
72
72
liul-tanapolis cf: Vincennes- 1st mortgage, guar .... . 117
2d mortgage. guaranteed ................... .. ..... 117
I01.Ca F'alls d: Sioitx Oily-Stock ......................
lat mortgage. April 1, 'G9 .•.....•...•...........•. 184
Ithaca Auburn cf: West.-2nd M. (income for 3 yrs) ..
27
JacksonmUe Southeast.-Stock . ......................
54
lst-mor~gage bonds ...... .. ..... . ......... . ...... ..
54
~ereerson (Pn.)-lat & 2d morta. (HawleyBranchl..
9
l!t mortgage (Susquehanna to Carbondale) .......
38
~~~~i:ri·oniis.·:.-.-.·_·_-_-::::::::::::::::::::::::::
1854
1857
1865
----
1 875
1874
1875
1877
1878
1875
----
1879
1 879
1 8';"9
1879
1 881
1881
188.1
1881
1869
1870
1871
1867
1870
---- i869
Huntingdon
d:
1877
----
1880
1867
1869
7 g. A. & 0. Phil adelphia, Office.
$500
$U6,000
Oct. 1, 1890
7 g. F. & A.
Feb. 1. 1895
500
367,500
do
do
April 1, 18H5
1,000
1,403,000
do
do
5
A. & 0.
Sept. 1. 1 881
100 29,000,000
312 M.& e. N. Y., Treas.' Office.
.April 1. 1 895
£200
2,500,000
6 g. A. & O.
London.
£200
4,200,000
5 g. A.. & o. London,Morton R.& Co. April 1, 1903
do
Dec. 1, 1905
£200
1,000,000
5 g. J. & D.
do
1,000
Jan. 1. 1<398
1,600,000
6
J. & J. N. Y., Treas.' Office.
1,000
200,000
do
do
6
F. & A .
JaIL. i",. "i905
....
4,175,000
---------7 ~- J. & J.
100
8,500,000
.....
J. ·&-·J. N.Y., eoi·bin Bank'g Co. Jait·. · 1,· ·i900
100 &c.
ti00,000
7
500 &c.
Auril 1, 1909
3,500,000
do
do
A. & 0.
3 to
April l, 1919
100 &c.
137,300
do
do
6
J. & J.
500 &c.
1,500,000
April 1, 1909
do
3 to 6 J. & J.
do
1,000
June 1, 1921
3,000,000
6 g. J. &D.
do
do
1-,000
1,800,000
6 g. A. & 0. New York, Co.'s Office. April 1, 1921
July 1, 1911
1.000
1,000,000
cl.:)
do
5 g . J. & J .
500
1,100,000
6 g . A. & 0. London and ~ew York. April 1, 1911
1,000
2,000,000
7
· Various N. Y., Unicn Trust Co. July 1, 1919
J,000
Oct, 1, 1900
906,000
7
do
do
A. & 0.
1,000
July 1, 1881
500,000
do
do
8
J. & J,
500 &c.
1,700.000
1908
7
F. &A. 'S". Y., Farm. L. & T. Co.
1,000
1,450,000
1900
6
do
do
M.&N.
100
4,623,500
Dec. 1, 1831
Boston.
112 Q.-M.
500 &c.
2,94 7,500
7
A. & O. N. Y., Nat. Park BR,nk. Oct. 1. 1917
100 &c.
408,090
7
J. & J. N. Y. City, Treas. Office. Jan. 1; 1907
1,000,000
.... .. . ....
---..6. .J. ---Jui:i '.i; "i9l0
1,000
200,000
& J.
-.. --.
300 .l OO
Honesdale
Nat. Bank. 1887'-& 1889
7
J. & J.
1.000
1 ,000
2,000,( 00 ·
7
J. & J. N. Y., by El'ie Railroad. Jan. · 1, 1889
l•
I
. ...
Broad Top.-Dec. 31, 1830, owned from Huntingdon, Gro&i earnings . . _.......•... _......... .......................... $1,196,416
669,053
Pa., to Mt. Dallas, Pa., 45 miles; branchea--Shoup's Run, 9 miles; Six- Operating expenses ,taxes ancl r entals . . . . . . . . . . . . . . . . . . . . . . . .
mile Run, 5 miles; and Sandy Run, 3 miles ; total operated, 62 miles.
Thia road was opened in July, 1856. The capital stock is $929,900 common and $1,197,200 7 per cent prefe rred stock. Interest in default on
tbe consolidated mortga~e bonds was funded into stock, including April,
1881, coupon, and interest to be resumed at 5 in8tead of 7. Earnings
in 1880, $3 L2,491; net, $167,313. (V. 30, p. 168; V. 3:l, p. 155, 368.)
Rlinois Central.-Dec. 31, 1880, mileage was a'! follows:
Main lineMiles., LeasedMiles .
Chiea~o to Cairo.............. 365 Dubuque to Iowa Fn.lls .. .. ... 1 43
Dunleith to Centralia.... ... .. 341 Iowa. Falls to Sioux City . . . . . 183
BranchesWaterloo to Minnesota State
Otto to Colfax and Minonk... 101 j Line............ . . . . . . . . . . . . .
76
Gilman to Springfield ... .. .... 111
-- - , Total le.a.sed .. ............... .. 402
Total owned........ . . . . . . . . . . 918 Total operated D ec. :n, 1880. J ,320
Tbis company was organized in March, 1851, and the whole road
m>ened September, 1855. The terms of the lea.aed lines in Iowa are
given under the name.a of those companies. The ~eneral mort.ga.g-e of
1874 provides for all bonds outstanding. It is limited to $15,000,000.
The Illinois Cent. was one of the first, and has been one of the most successful, of the land grant roads. The company bas acguired a oontrolling
interest; in the Chic. St. Louis & N. 0. RR. to which 1t has made large
advances, and owns $6,670,000 of the stock. The Chicas-o & Sprmgtl.eld RR. was a reorganization of the Gilman Clinton & Springtl.elcl
in 1877, and is leased to the Illinois Central and virtually owned bv it.
Tbe annual report for 1880 says: "Tne gross earnin~s for the past year
were $8,304,811, against $7,234,464 for 1879. The tonnage has largely
increased. The gain in net was $282,091. Total uet revenue,$3,747,533.''
From this sum, besides paying Jntere&,t on d ebt and dividends on shares,
permanent improvements were made to the extent of $ 842.323. There
was atlll a balance from the year's operations of $501,641. The Board has
decided to enter into a plan reducing the fixed interest charo-e on the
New Orleans line, and offering to holders of all classes of bonds thereon
a new 5 per cent bond, to be dated the 15th of June next, and made
payable in 1951. Income for four years as follows:
1877.
1878.
1879.
1880.
$
$
$
$
Total income .... .,.. ..
3,625,537
4,164,074
4.,423 ,5-15
4,909,391
Disbursements$
$
$
$
Rent'la pd. on Ia. lines
587,913
616,330
615,830
708,702
Interest on debt .... .
582,990
669,:.150
669,484
672,600
Taxes . .. . ........... .
382,927
392,190
395,011
444.125
Dividends .......... .
l,Ul0,000
1,740,000
1,740,000
1,740,000
Construction in Ill..
73,604
38,728
386,016
842,323
Miscellaneous .. .... .
48,000
41,944
....... .
I
----------
Totaldisbw·sem'ta.
2,835,434
3,498,542
3,806,34 1
4,407,750
:Balance, surplus....
790,103
665,532
617,204
501.641
-(V. 29, p. 301; V. 30, p. 91,218; V. 32, p. 155,229; V. 33, p. 357,
641.)
Ill~nois Midlandr-June 30. 1881, operated from Terre Haute, Ind., to
Peoria, Ill., 176 miles, of which 148 miles are owned and 28 miles leased.
Thla was a consolidation Nov. 4 , 1874, of the Peoria Atlanta & Decatur,
Paris & Deootur and Pu,r ia & Ten·e Haute. Receiver appointed Sept.
11, 1875. Earnin~s in 1879-SO $323,096; exp enses, $307,4.69. In
1880-81, gross receipts, $385,615; expenses, $395,391. L. Genis, Pres.
and Receiver, 'I'erre Haute, Incl. (V. 3:.l, p. 636; v. 33, p. 1 24.)
Indiana Bloomington & Western.-This was a consolidation in March,
. 1881, of the Ind. B. & W. and the Ohio Ind. & Pacific. The I. B. & W.
owned from Indiauapolia. Ind. , to Pekin) Ill., 202 miles; tra.ck used
on rental, Pekin to Peoria. 10 miles; total, 212 miles. The company
put under construction its Eastern Division from Indianapolis to Spring:tield, Ohio, 140 miles. The Cincinnati Sandusky & Cleve. was leased
April, 188.1-Sandusky to Dayton, 154 miles; branch, Carey to Findlay,
16 miles. But of this, 24 mifea (Springfield, 0., t-0 Dayton) is leased to
Cincinnati and Springfield, leaving but 146 miles; also with it the
Oo)umbus Springfield & Cincinnati road, Springfield to Columbus, 44.
miles; total, 190 miles. Total operated 402 miles, and 140building. In
Dooembe1·, 1881, Jeased the Indianapolis Decatm· & Springfield road,
guaranteeing $200,000 per yP,ar.
The former Indianapolis :Bloomington & Western Company defaulted
Oct. 1, 1874, and a Receiver was appointed Dec. 1, 1874. The road was
eold in foreclosure Oct. 30, 1878, and the company r aorganized. Interest
is on the first mortga~e bonds 3 per cent per annum for the firs t three
years, 4 per cent for tne succeeding two years, 5 per cent for the suc~ding three yea.rs, and then 6 per cent until maturity. The mortgage.
by its. terms, cannot be foreclosed for non-payment of interest until
.Jo.nuary 1, 1884. The second mortgage bonds bear 3 per cent per annum
interest for the first three years, 4 per cent for the succeeding two years,
5 per cent for the succeeding three years, and 6 per cent thereafter
until maturity. The income bonds take such interest from July 1, 1879,
not exceeding 6 per' cent per annum, as the u et ea :- IJings Inc'tY suffice to
pay. $830,000 stock scrip was ia~med entitled t-0 a, dividend of 7 per cent
per annum. after a dividend of 8 per cent on the common stock. .After
tbe payment of a 7 p er cent dividend, the stock scrip is convertible into
wmmon stock. Earnin"'s and cspenses in 1880 were as follows:
Digitized/ for FRASER
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
527 363
Inte~:!te:;~~~: : : : : ~:: ·. ·_ -_-_-_ ·_-_-_-_ ·. ·_-_-_-_ ·_-_-_-_ ·_-_-_-_-_-_-_-_ -_-_-_- $.i92-,000 $
'
Six per cent on inc-0me bonds . . . . . . . . . . . . . . . . . . . . . . .
90,000- 282,000
Net surplus.... ........ .... ....... . ......... .. . . . . . . . .. . .. . $245,363
Earnings for two years ending Jw1e 30, 1878-9 and 1879-80, were:
Years.
Miles.
GrossEarn'gs. NetEarn'ga.
1878-9 .... ..... ··· ·· · ·· · ··· ..... 202
$1,085,938
$375,700
1879-80. .. . . . . .. . . .. . . .. . . .. . . . 202
1,186,347
491.086
- (V. 31, p. 380, 405,535; V. 32, p. 15, 69,100,155,313,335,444, 4-68
v. 33, p. 468, 527, 641, 716.)
.
.Tndianapolis Decatur cf: Sp1·ingtteld.-Auguat 31, 1881, owned from
Decatur, Ill., to Indiamtpolis, Ind., 153 miles.- This company is suooossor
to the Indiana & Illinois Central Railroad. In Dec., 1881, was leased to
Indianapolis Bloomington & W. for 50 yen.re, at 30 per oont of gross
earnings. but with a guarantee of $200,000 per year . .A. new adjUBtment
proposed in April, 1881 (aoo V. 32, p. 501, V. 33, p. 303), WAS c.arrted
out in November, and the above 2d mortg. bonds issued, and $2,850,000
of 7 per cent pref." stock. Common stoek is $500,000. Gross earnin~
in 1879-80, $339,850: net, $143,684. In 188-0-81 gross, $!91,487 ; net
$159.178. (V. 31, p. 427; V. 32, p. 500, 636; V. J3, p. 303, 358, 440
588, 641, 687.)
Indianapolis <.C E vansville.-In progress Indianapolis to Evansville
Bonds issued in London May, 1881. R. G. He1:vey, President, Evansville, Ind.
Inclianapolts & St. Lou~s.-De.c. 31, ~880, owned from Indian~polis to
'.rerre Haute, Ind., 72 miles; leased line, St. L.A. & T. H, 189 miles, a..nd
branches, 6 miles ; total operated, 267 milM. The lease of the St. L. A
& T. H. was guaranteed by three other comparnes, and suit lrns been
pending as to the rental The company is controlled by the Pennsyt
vania Company, which owns the st< elc of $600,000, in oonnection with
the Cleve. Col. Cin. & Ind. Of the fl rst mor-tgage bonds series "A" are J
& J.; series "B," M. & S.; series "C," M . & N. Interest has not been
paiu on the seoond mortgage and equipment bonds since April, 1878
Operations and earnings for nve y~u.~ ,, past were as follows:
Net
Pa:,ise-ngta
eig-bt (ton)
Gross
Yeara.
Milos. Mileage.
Mileage.
Earnings. Earnings
$431,645
1876. .. ... ... 265 J0,889,483 100,902,991 $1,657,863
',t77,882
1877..... . ... 266
8,211,025 . !)2,684,115
1,385,874
315,115
1878 . ........ 266 10,865,239
85,300,579
1,347,246
491,149
1879. ..... . .. 266 12,20fl,092 102,630,114
1,493,876
608,413
1880. .. ...... 266 1 5 ,285,443 148,947,237
2,009,922
-(V. 29, p. 95; V. 31, p. 405.)
Indianapolis & Vincennes.-Dec. 31. 1880, owned from IndianapoliB,
Ind., w Vincennes, Ind., 117 miles. The P ennsylvania Company ow~. a
controlling inter~t in the stock and operates tJ?.e road, ~vancing tho
deficiency to pay mterest on the bonds. The capital stock IS $1,402,000
In 1880 the earnings were $57,416; in 1879, $64,025; in 1870, $5,349
Annual interest on debt amounts to $206,000. (V. 28, p. 18, 377.)
loica FaUs d: Si<nix Oity.-June 3(_), 1881, owned from ~owa Falla, I3:.
to Sioux City, Ia., 184 miles. This road was opened. m 1870 and is
leased to the Illinois Central for 20,; yeara from Oct. 1, 1867, at a rental
of 36 per cent of the gross earnin"'s. This company also rooeivea a
drawback of 10 per ct. on business to and from their line over the Dul)
& S. City RR., and r eceives rental for 26 miles of its road used by tho
Sioux City & St. Paul Co. In the year ending March 31, 1881, the total
rental was $235,408; receipts from sales of lands, $365,300; the total
income was $6 l :3,060. Lands remaining unsold, 261. 149 acres. Romeo
Williams is President, Clinton, Ia. (V. 32, p. 16, 636.)
Ithaca .Auburn & Western.-Dec. 31, 1880, owned from Freeville to
Ma11leton, N. Y,, 32 miles. The N. Y. & Os_wego Midland RR_., Western
Extension, was sold in foreclosure, and this company orgaru.zed Septt,
20, 1876, as the successor. The stock is $970,000, and there is a firs
mortga~e authorized of $500,000 for building to Auburn & Ithaca, -of
which ;i;200,000 bonds are to be issued. H. R, Low. President, .Middle
town, N. Y.
Jacksonville Southeastern.- July 1. 1881, owned from Jaekaonvillo to
Litchfield, Ill., 54 mileo. This was the Jacksonv. Northw. & Southeast
RR., projected from Jacksonville to Mt. Vernon, 125 miles, Bonds
were issued at $20,000 per mile, amounting to $600,000. In 1879 the
company was reorganized by-the bondholders under,tlli~ name. In 1880
the road was extended 23 miles and bonds for $200,000 issued. In year
e nding June 30, 188 l, gross earnings, $83,000; net, $43,814.
J~fferson.-Sept. 30, 1880, owned from Susquehanna Depot, Pa.J. to par
bondale, P a. , 37 miles~ ~.r anch, Ha:vley, Pa., to !Ione_sdale, Pa., ~ mil~f•
,total, 45 miles. Leaseu m perpetmty to the Erie Rmlway at a rental o
7 per neut on the bonds, and now ooerated bythe N. Y. Lake Erie & West
Capital stoC1k, $2,096,050. Edwaro Clymer, President, Reading, Pa.
_DECEMBER,
1881.]
RAILRGAD STOOKS AND BONDS.
xniii .
Snb8erlben will conCer a great Cavor by giving Immediate notice ot any error dl•covered In these Tablea.
&md-a-Prinoi.DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size or
Due.
Amount Rate f.er When Where Payable and by pal,When
For explanation of column headings, &o., see notes of
of
par
Stocks-Last
Road. Bonde Value. Outstanding Cen . . Pay'ble
on first page of tables.
.
Wkom.
Dividend:.
---- ·- - · - - -- 226
$100 $2,000,000
---159 1866
1,000
i,382,000
Jeffersonville Mad,ison ct; Indianapolis-Stock ... _.
Jeff., Mad. & Ind., 1st M. (s . f. $i5,00v per year).
do
do
2d mortgage . ----·--- ........
Jersey Oily ct; Bergen-1st mortgage .......... ... ....
Joliet ct; Northern lndiana- lst mort., guar by M. C.
Junction ( Philadelphia).-lst mortgage ....... . .. ..
2d mortgage ........... ..... ....... .. .. . ....... .....
Junction it Breakwater-Funded debt (Del. St. loan)
2d mortgage .. .. ........ . .. . .............. .. .. . .....
Kansas Central--lst mortgage (for $2,400,000) ....
Kansas Otty Fort Scott <1: Gulf-1st m. l. i!T. R. f . . ...
Mortga~e ou branches . ... . . .. ........ : ............
Kansas Oily Lawrence ct; Sowthern Kansas-1st mort.
Southern Kansas & Western-1st mortgage .......
Sumner County RR.-ls t mort,,.,crage .. _.. _.. . . _....
Kansas Oit.11 Springfield ct; Memphis-1st mort ......
Kentucky Oent1·cil--Stock .. _..........................
~g
:~~ti!!!::::.~~:~·_-.:~·.·.·.-.·_:·.·.·.::::::::::::::::::
General mortgage (payable after 1886) .... . ......
Jl..e,'Jkitk cf:Des .Moines--lst M., mt. guar. C.R. I. & P.
linox ,t Lincoln-1st mortgage ......... _. . . ...... __ .
Knoxville & Ohio-1st M. (payable at any time} ....
New bonds for $1,300,000 .. _..•.... _........... __ .
Lake Erie & Weste1·n-Stock ..............
1st mortgage, gold ... .... ..... ... ........ ::::::::::
Income bonds convertible (not cumulative) .••.•.
Sandusky Extension, 1st mortgage ..... _.. _......
do
do
income bonds . .... __ ........
Lafayette Bloom. & Muncie, 1st mort., gold ......
do
do
income M. con. (non-cumul.)
Lake Outario So-uthern-lst mortgage, gold ........
159 1870
1,000
6
---1·.000
44 1877
1,000
412 1862
1865
1,000
45
... .
--- 18713
------1.000
84 1879
189 1879
1:000
179 1880
1,000
175 1879 500 &c.
149 1880
1,000
18 1880
1.000
1,000
1881
---·
149
---·
80 1853
1.000
80 1855
1,000
149 18?1
162 18 78 100 &c.
49 '69-'72
38 1876
500
----
1:oou
0
365
165
. 'ii
21
200
200
50
Lake Shore & Michigan Southern-Stock ... . ...... .. 1181
Ou.ai·anteed 10 per C!:lnt stock ...... __ .............
COnsol. 1st mort., (sink. fund, 1 per cent) coupon. 864
do
do
do
registered 864
--- ·
isfo
1879
1880
1880
1879
187~
1880
....
-···
1870
1870
-···
.....
1,000
1,000
1,001)
1,000
1,000
1,000
1,000
100
100
1,000
1,000
----112
7
7
7
7
6
2,000,000
385,000
800,000
455,000
300.000
400,000
250,000
504,000
3,056,900
2,033,000
2,940,000
1,823,000
266.000
3,000,000
5,500,000
792,000
233.000
4,589,000
2,750,000
2,335,750
5 00,000
6
6
6
7
7
7
4 to 6
7
7
6
l
7
7
6
5
6
7
. ...
fl)
7,700,000
l.8 l5.000
1,485,000
327,000
600.000
2,500,000
1,000,000
450,000
49,466,500
533,500
} 9,200,000
---6 -g.
Q.-F. N. Y., Farm. L. & T. Co. Nov., 1881
A. & O.
ao
do
Oct. 1, 1906
J. & J.
July 1, 1910
do
do
J. ),::· J.
J. & J .
A & o.
J. & J.
F. & A.
A. & O.
J. & J.
M.& s.
A . & 0.
J. & J.
M.& 8 .
---·
M.&N.
l\:L& S.
.T. &D.
J. & J .
A. & 0.
VariOUR
J. & J .
....
N. Y .. Fa{·ni." L." & T. Co.
PhiladelpWa Office.
do
do
Lewes, Del., Treasurer.
do
do
Office, 80 Broadway.
BoBt., Nat. Webster Bk.
do
do
Boston. Nat. Union Bk.
do
do
do
do
Boston.
Cincinnati.
N. Y., Bank of America.
do
do
New York Agency.
N. Y.,Farm. L. -& '.r. Co.
Bost., Hide & L'ther Bk.
N. Y., R. T. Wilson & Co.
. ..........
..........
~. & A. N. Y., lieti·opolitan Bk. Au~·. "ii,~ -i919
August.
7
F. &A.
6
7
6 g. M."& N
Yearly.
7
6 g. A. & O.
2
Q.-F.
5
F. &A.
7
J. & .J.
Q.,-J.
7
do
do
New York City.
0
f
"io:
Juiy
"i907
July 1. 188Z
April 1, 1900
1890
Feb., 1896
April 1, 190{}
June 1, 190S
Sept. I, 1910
Apr. 1, 1909
Jan. 1, 1910
Sept. 1. 1910
1921
May, 1881
March. 188~
June, 1885
July 1, 1911
.or,t. 1, 1923
1880-1902
Jan. 1, 190&.
N. Y., Metropoii°tan Bk.
do
do
N.Y., Union Trust Co.
N.Y.,Grand Cent.Office.
do
do
} See page following. {
Aug.15, 1899
Aug. 1, 1919
Aug. 1, 1920
May 1, 19U)
May 1, 1899
April 1, 1910
Feb . 1, 1882
Aug. 1. 1881
.Tilly 1, 1900
July 1. 1900
Jejfersonv. Madison ct; Indianapolis.-Dec. 31, 1880, owned from Louis- . Kentucky Centt-~l.-Aprll 30, _1881, owned fro~ Covington, Kx., to Lex-
ville, Ky., to Indianapolis, Ind., 110 miles; branches-Madison, Ind .. to mgton, Ky., 99 milea, and Paris, Ky., to Maysville, Ky., 50 miles; t;otal
Columbus, Ind., 46 miles; Columbus. Ind., to Shelbyville, Ind., 24 miles; operate d, 149 miles. This was formerly the Covingwn & Lex. RR. ,whick
Jeffersonville, Ind., to New Albany, Ind., 6 miles; Shelby & Rush RR., was foreelosed in 1859. In 1875 the present company was formed, aud
20 miles; Cambridge Extension, 21 miles; total operated, 224 miles. took possession May 1, 1875. The Maysv. & Lex. RR. was taken Nov.
The road was leased anew from January 1, 1880, to the Pennsylvania 17, 1876. In Juue, 1881, a majority of the stock was purchased by Mr.
Company, the lessees to pay over all the net earnings to the J.M. & I. C. P. Huntington of the Chesapeake & Ohio road, and an extension
Co. In 1881 the Penn. Company purcho.sed $1,939,000 of the stock. from Paris to Livingston, Ky., 70 miles, will be made. Eaough of th&
Dividend.a were at the r a te of 7 per cent per annum till May, 1880, and general mortgage of 1881 is reserved to retire the prior bonds, and..
there is an option in this mortgage to retire the bonds after five years.
0 per cent afterward. Earnings for four years past were as follows:
Gross
Net
Div. The fiscal year now en.ds Dec. 31. Operations and earning-a for tbrooYears.
Miles
Earnings.
Earnin!?S.
p. c. years past were:
Gross
Net
,-Dlvid's, p.ct.1877. .... .. .. .... ... 161
$1,176,174
$499,033
7
Years.
Miles.
Earnings.
Earninge.
1878 ... . : . . .. . . . . . . . 186
1,15-0,014
425,887
7
Pref.
Com.
1878-79 ...... . 149
$553,389
$208,750
6
2
1879... .. . . .. .. . . . . . 18(.)
1,2-16,333
492,863
7
608.029
222,514
6
2
1880... . ............ 186
1,388,565
541,538
612 1879-80 .... _, . 149
1880(8 mos.) .. 149
447,078
14.3,616
3
l.
.(V. 28 p. 3'78; V. 32, p. 205.)
Jersey City <1; Bergen.-Dec. 31, 1880 owned from Jersey City to Beri::-en -(V. 30, p. 623; V. 32, p. 16, 120, 612,636; V. a3, p. 47, 100, 358,
Point, N. J., 6 miles. In 1878 gross earnings were $224,817; net, $80,· 716.)
~21 .. In 1879 ~Toss earnings were $228,758; net, $84,457. stock is
Keok-uk ct; Des Moines.-June 30, 1880, owned from Keokuk, Ia., tff
$165,150. William Keeney, Pre.sident, Jersey City. (V. 30, p. 566.)
Des Moines, Ia., 162 miles. Thi11 waa a reorganization, Jan. 1, 1874, of
Jol-iet ct; Northern lndiana.-Dec. 31. 1880, owned from Joliet, Ill., to the Des Moines Valley Eastern Div., sold in foreclosure Oct. 17, 1873.
Lake Station, Ind., 45 miles. Operated as part of the Michigan Central The property was ieased for 45 years from Oct. 1, 1878, to the Chicago
main line. Road opened in 1854 and leased to the Mich. Cent. at 8 per Rook Island & Pac. RR. on the terms following : that the lessee pay 25 per
cent on the bonds. The Mich. Cent. declined to pay 8 per cent, and the cent of the gross earnings to this company, but guarantee the interest
(not the principal) on the present bonds. The stock is $1,524,600 of a
a,bove issue of bonds definitely guaranteed was gi,en as a compromise.
per cent preferred and $2,600,400 of common, a majority of whioh ilJ
Junction (Phila.delphia) ....:.Dec. 31, 18~0. owned from Belmont, Pa., to held
by the lessee. In the year 1878-9 gross earnings were $565,556.
Gray's Ferry, Pa., 3·6 miles It connects various lines coming mto Phllad{llphia. Capital stock, $250,000. Net earnings n 1878 were $87,963 in 1879-80, $639,788, leaving $22,447 over interest charges. A dividend
of 134 per cent on preferred stock was paid December, 1881. (YDividend, 14 per cent. (V. ::n, p. 453; V. 32, p . 4.20.)
31, p. 652.)
Junction ct; Brealcwater.-Dcc. 31, 1880, owned from HarrinITT;on to
Knox cf: Lincoln.-Sept. 30, 1881, owned from Bath, Me., to Rockland.,.
Lewes, D el., 40 miles; branch to Rehoboth, 5 miles; total operated, 45
miles. Gross earnings, 1880, $75,281; n et, $35,576. Stock is $305,000. Me., 49 miles. The road was opened in Nov., 1871. In the year endinJt
Dec.
31, 1880, the g-ross earnings were $123,584 and net earnings $"-9, 104.
N . L. Mccready, President, New York City.
The stock is $354,580. On city and town bonds, interest is mostly paicl
Kansas Oentral.-May 1, 1879, owned from Leavenworth to Garrison, by the municipalities. John T. Berry, President, Rockland, Mc. (V. 32.,
Kan., 119 miles. Sold unde1· foreclosure of first mortga,ge April 14, 1879. !), 356.)
Reorganized April, 1879. Stoek, $504,000. L. T. Smith, President,
Knoxvil~ cf: Ohio.- June 30, 1880, owned from Knoxville, 'l.'enn., to
Leavenworth, Kan. (V. 32, p. 232.)
Careyville, Tenn., 39 miles. This was formerly the Knoxville&Kentucky
Kansas Oit.11 Fort Scott cf: Gu~f.-Dec. 31, 1880, mileage was as follows RR., which was iu d efault to the State of Kentuclg and sold Oot.
Main line-Kansas City to Baxter Spriags, 160 miles; branches-Union 1871. It is C{llltrolled by the E ast Tennessee Virgima. & Georgia. Th&
Transit, i. mile; Sprin~eld to Ash Grove, 19 miles; Weir City to Parsons stock i s $1,080,100. Contract made for junction with Louisville &
('.Y. G.). 31 miles; total owned, 211 miles. Leased-Jllllction to Golden Nashville. C. M. McGee, President, Knoxville, T enn. (V. 31, p. 559.
C.i ty, 49 miles; Arcadia to Coal Mines, 2 miles; Baxter Sprin[l,,.s to Joplin, 606; V. 32, p. 16. 335; V. 33, p. 74.)
15 miles; Rich Hill Junction to Carbon Centre and Rich Hil , '28 miles;
Lake Erie cf: Western.-June 30, 1881, owned from Sandusky to.
total leased, 94 miles. Total opera.too, D ec. 31, 1880, 305 miles.
This company was organized April 1, 1879. as strncessor to the Fremont, 22 miles; Fremont to Celina, 99 miles; ·branch to Minster. 9
Missom·i River Fort Scott & Gulf, which made default Ootcber 8, milef ; Celina to Muncie, 5 miles; Muncie to Illinois State line, 120 milos ~
1873, and was sold in foreclosure February 4, 1879. The stock is Illinois S tate line to Bloomin~on, 81 miles; total operated , 383 milce.
$4,000,000 common and $2,750,000 8 per cent preferred. Four and This wait a consolidation, Dec. L2,>18i9 of the Lafayette Bloomington &
-.ne-half peL" ct. paid Aug. 15, 1881, on contracts for preferred stock. The Muncie and the Lake Erie & Western. on the basis following: The consoliirst. mort,,.age bondholders of the old road took 80 per cent in the new idated company to assume all the debts, issue its stock share for i;bare
mortgage bonds, and for all other claims stock was issued. In May, 1880, for the Erie & Western stock, and issue four shares of it.8 stock for ea.oh
~ew bonds on branches were issued, as per eircular, V. 30, p. 465. share of the Lafayette Bloomington & Muncie sto ck. The line emTotal value of land assets, $899,862. Operations and earnings for three braces the former Lafayette Bloomington & Mississippi road and the
Lake Erie & Louisville. Gross earn ings 1879-80, $1,056,560; net.
years past have been as foUows:
$J53,884. In 188<?;-8 l, g[OSS, $1,411,776; net, $310,574. (V, 32, p. 16,
Passenger Frei 17ht (ton)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
EarninO's. Earning-s. 70,100,183; V. 3.:., p. 3.:>8, 501.)
1878 . . . . . . . . . . . 160
5,203,933
32,301,278 $833,835 $115,567
Lake Ontar-io Sottlhe1·n.- Sept. 30, 1880, owned from Sodus Point, N.Y.,
1879 ..... -- . . . . 16~
5,585,154
35,972,107
895,!ilfi4
332.811
1880 . . . . . . . . . . . 305
8,819,638
49,435,645 1,222,867
5-25,915 to Stanley, N. Y., 34 miles. This company was a consolidation, Doo. 2~
1879,
of the Ontario South and the Geneva Hornellsville & Pino Creek
v. 30, p. 222, 463, 465; v. 31, p. 122, 483, 588; v. 32, p. 231, railroads.
The line is from Sodus Point, N. Y., to West Bra.nob, Potter
S93; V. 33, p. 74, 124, 153.)
County,
Pa., 155 milea, of which 34 miles are in operation. The stookiEC
Kansas City Lawrence ct; Soul/tern Kansas.-Dec. 31, 1880, owned from
and bonds for $3,000,000 issued at $20,000 per mile of oomLawrence, K a n., to Coffeyville (Indian Ter. Line), 144 miles; bra n ches- $2,S00,000,
pleted road. Gross earnings in 1880, $22,0i6. E. B . Pottle, President,..
Ottawa Junction to Olathe, 32 miles; Cherryvale to Independence, 10 Naples,
N.
Y.
(V. 30, p. 434,466; V. 33, p. 412.)
wles; South Kansas & West., 144 miles; Smnner County RR., 2 l miles];
total, 351 miles. The K. C. L.& S. K. was formerly the Leav. Law. & Gaf.
Lalce Shore & Michigan Southern.-Dec. 31, 1880, owned from Buft'aie,..
RR., which was sold in foreclosure Aug. 9, 1878, and purchased by bond- N.Y., to Chicago, Ill., .540 _milea; branches owne~, 324: milea. Other I.maJ
Jtolders, and the present company organized May, 1879. In November, owned a8 foilows: Detroit Monroe & Toledo, 62 miles; Kalamazoo &:
1880, the consolidation of the three roads above named was made, and W'liite Pi~eon, 37 miles; Northern Central (Mich.), 61 miles; -total. · !,GO
th.e consolidated stock of $3,759,000 was purchased in the interest of miles. R,,aua leased are as follows: Kalamazoo Allegan & Gr. Rap1da;.
the Atchison To:p. & S. Fe with the 5 per oent bonds of that company 58 miles; Jamestown& Franklin, 51 miles; Mahoning CoalR., 43~ee;.
(through its auxiliary corporation, the Kansas City Topeka & Western), total, 152 miles. Total road .o~ed, !eased, and operated, 11 177 mile8.
a.oeording to the terms of the circular. published in the CHRONICLE of This company was a consohdati~n of t~e Lake Shore Railroad
aad
Nov. 27, 1880 (V. 31, p. 559). The present bonds carry 4 per cent Michigan Southern. & Northern Indiana Railroad May 27! 1869, ~nd th&
till 1882, 5 in 1882-3, and 6 thereafter. (V. 30, p. 384, 519, 543; V. Buffalo & Erie Railroad August 16, 1869. The consolidated line em31, p, 381,559; V. 32, p. 16; V. 33, p. 74.)
braces the former roads of t'fie Cleveland & Toledo and the Cleveland
Kansas Oity Springfield cf: Memph'is.-This or"'anization embraces Painesville & Ashtabula railroads. Of the guaranteed stock, the claim.
f9r
dlvidenfls between 1857 and 1863 has been settled on $360,600.
two corporations under the laws of Missouri and ol Arkansas to build a
road from Springfield, Mo., to Memphis, Tenn., at an estimated cost of reavmg $172,900 saill unsettled. This company controls Chic. & Can. Bo-.
The
brief income account for 1881 in the CHRONICLE, V. 33. p. 716.
$5,600,000. The Kansas City Fort Scott & Gulf will appropr:ate 15 per
oont of gross earnings OR business to or from the new road to pay in- Rbowed a surplus applicable td'dividends of $3,974,000 in 1881 QJ?ain.at.
.
terest on the bonds. Each bolder of 50 shares K. City Ft. S. & G. stock $ 5,580,982 in 1881>'
'.rhe last annual report is published in V. 32, p. 497, oontaimng th•
]),ad the ri&"ht to take $1.500 in stoek of the new Missou!·i corporation
for $1,500 m cash, with $2.000 of the bonds for $:'>00 in cash-mak.mg tables b elow, showing the operations and the earnings of the road for
a series of years :
$3,500 for $2,000 cash. See V. 33, p. 153.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
*•
.RAJLROAD STOCKS AND BONDS.
[Vor,. XXJIII •
8ob8erlber• will eonJ"er a great Cavor by giri.ng Immediate notice oC any error: dl.scovered in these Tableti.
Bo-nds-Prinoi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Duo
Miles Date Size, or~ Amount
.Por expla.ntllt,ion
column headings, &o., see notes of
of
far Ontstanding Rater When Where PWiable,-a n d by Stooks-Last
Ce . Pa.yablt:
\ hom.
on first page of tables.
Road. Bonda Value.
Dividend.
.La1u Shore & Michigan Bouthern- ( Continued)Consol. 2d mort., do. (for $i5,000,000) coup.& reg.
lnoom13 bonds, <;,oupon or registered ...............
1st mortgage, smking fund, M. 8. & N. I. .........
!Jd mortgage (C., P. & A. RR.) rcg-istered bonds ..
1st mortgage (C. & Tol. RR.) sinking fund ........
2d mor"%af{!
do
......................
Bufl'alo 8 te line, mortgage bowls ..............
do
do
...... . .....
.Buffalo & Erie, mortf:i.ge bonds ...................
Det. Monroe & To_l., s~ mort., coup., 1;ar....... .
Kalamazoo & Wl11te Pigeon, 1st mor "'a.!;"e ....... .
&hooloraft & Three Rivers. 1st mortgage ........
Kalamazoo & Schoolcraft, 1st rnort~a ge ..........
Kalamazoo. Allegan & Gr. Rapids, fat mort!{age .
K.a1. Allegan & Or. Rapids, stock, 6 per ct.guar ..
-Jamestown & Frankl.In, 1st mortgflge .............
do
do
2d mortgage . .............
.Latorence-Stock ......................•... . ..........
l.et mortgage . .. ............................... . . .. .
Lih~gh cf: Hwilt>n R ·f rcr-lst mortgage, gold ........
I,ehigh cf: Laclcawanna-lst & 2d mortg age s ....... .
Lehigh Vtuley-Stoclr ($106,300 is pref.) ............
1st mortgage, coupon and registered ............. .
2d mortgage, re~istere.d ...................... . : ...
·,C onsol. mort., go d, $ & £ (s. fd. 2 p.o. v'lyl cp.& re:r.
Ea ton & .Amboy, 1st rnort., guar.(for $6,0U0,00 0)
Delano Land Company bonds, endorsed ..........
.LUlk Miami-Stock, common .......... . .............
1st n1ort-g age .................... ............... . . .
-Streetcon. lRt M. bds (jointlywitllCin.& Ind.RR.)
Little Rock d Fort Smilh,-New stoclr ................
1st M., ld,nJt (1,083,000 acs) s.fd . (for$3.000,000)
Little ROl:k Miss. -Ri·ocr ct: Texas-1st mortgage ......
4:1i
95
162
162
88
BB
88
62
i,,7
12
]3
58
....
51
51
22
17
41
25
301
101
1873
1872
1855
1867
1855
1866
1862
1866
1868
1876
1869
1867
1867
1868
----
1863
1869
....
! 8 65
1881
1877
lOl
2:12
60
i96
84
·-··
165
165
150
---·
1868
1870
1873
1880
1872
i853
1864
.....
1875
1876
J. &D.
7
$1.000 $10,628,000
1,000
2,537,000
A. & 0 .
7
5,240,000
M. & :N.
1,000
-7
1,000
920,000
A. Ji 0.
7
1,000
1 ,595,000
J. & J.
7
1,000
849,000
A. & 0.
7
a-:-e ~ai.i by
1,000
200,000
J. & J. Coupons
7
Treasul"r a Gr'nd
1\1.& 8.
1,000
300,000
7
Central
Depot, N .
500 &o.
2,834,000
A. & 0.
7
Y .. and reg-istere<l
924,000
F. & A.
1,000
7
interel'!t
by Union
400,000
J. & J.
....
7
Trust Company.
.....
100,000
J. & J.
8
100,000
J. & J.
8
··-·
840,000
J. & J.
......
8
A. & 0.
610,000
3
397,000
7
J. & J.
1:000
1,000
500,000
J. &D.
7
450,000
Q.-J.
50
2
Pittsburg Office.
F. &A. N. Y. , Winslow, L. & Co.
1,000
329.000
7
r.
800,000
J.
&
J
.
New York.
---600,000
J. &D.
PhHadelphi:t.
1,000
7
Q.-J.
50 27,603,193
Philadelphia,
Office.
112
1,000
5,000,000
J. & D. R~.atofflce, op.B'kN.A
6
M.&
8.
1,000
6,000,000
Philn.,
Bank
ofN.
Amer.
7
1,000 14,1<rn,ooo
6 g . J. &D. PhUadelphia, Office.
2,100,000
M.&N.
1,000
do
do
5
1,000
1.697,000
J . & J.
7
do
do
50
4,637,300
2
Q.-M .
f?incinnati.
M. &N. N. Y., Bank of .America.
1,000
1,500,000
6
150,000
1,000
Variou.s N . Y. and Cincinnati.
6
4,096,135 10 stock.
·--T. & J. N. Y., siieidon ~~ Wadsw .
500&0.
2.6~3.500
7
2,000,000
.Boston. ·
500 &o.
7
J. & J.
JNOOMli ACCOUNT.
1877.
1878.
1879.
1880.
J.tooeiptsXet ea.r-nings ........ .
J.ntereat and divid'ds.
4.541,194
171,776
5,493,166
197,662
6,336,968
172,806
8,381,356
208,662
Total inoome . ... .
4,712,970
5,690,828
6,509,774
8,540,018 .
$
$
$
$
6,509,774
8,540,018
Disbut'Se-ment.sRental.s paid .... ... . .
Intt.rest on debt ..... .
Dividends, ,mar ..... .
Dividends, ordin'y .. .
Aebtabnla accident ..
Miscellaneous . ..... . .
:Balance, surplus .... .
Total...... ........
* 6-½I per cent.
$
$
$
$
265,404
251,924
257,489
282,956
2,628,6ri0
2,611,180
2,616,955
2,62~,730
(10) 53,350 (10) 53,350 (10) 53,350 (10) 53,350
(2-) 989,330 (4)1,978,66() (k)3,215,322(8)3,!J57,320
. 495,722
77,909
60,128
....... .
4,378
37,544
. . . .. . . .
. ...... .
276,106
680,261
806,530
1,623,662
4,712,970 · 5,690,828
---- ----
- - - ---
864
Nothing was oharged to coni;truction or oquipment acaount in eitlrnr
18B0 or 187~. '.rhero was added t? the equipment in 1870 700 new
trc,ildlt cars, oosting $300.000; _iu 13d0. 1.500 new freight cars, costing
$100,00i 1, all oharged to operatmg expenses.
Tho financial results of the ten years pasture shown by the following
•onden.sed. table:
Operating
Interest, lea,ses
Gross
Expenses.
Net
11ml dividends Di,.
Year. Miles.
Earninirs. Per cent. Eamin/?8· on Guur. Stock. J). c.
l.871.. 1,074 $14,898,449
65·64 $5,118,643 $2,121,164
8
1.W,2 .. 1,136
17,699,935
66·90
5,8611,409
2,201,459.
8
1873 .. 1,175
19,414,509
70·!)0
5,667,911
2,634,560
4
.1874 .. 1,175
17,146,131
65·04
5,993,760
3,008,193
314
1-875 .. l,.1. 75
14,434,190
72·96
3,902,698
2,810,294
2
1870 .. 1,] 7 7
13,9..Jc9L177
68•6-1
4,374,3 4 1
2 ,7 59,989
3 14
J.S77 .. 1,1.77
13,505,159
66·37
4,541,193
2,775,657
2
13,979,766
60·70
5,493,165
2,718,792
4
1.878'. . l .J,.'7 7
1.879 .. 1,177
1 5,271,492
58·50
H,33d,9&8
2,754-,988
612
1&80 .. 1,).77
18,7-!!:J,461
55·56
8,331 ,3 5(-1
2,750,374
8
. The lollowin~ condensed tables show t.ilP. pa,1,1en ger and the freight
-lmsine.sa in detail for tho past six years, 1875-1880:
.
Wilkesbarre, 10 miles; also owns the Easton & Amboy RR., Amboy,
N. J., to Pennsylvania Line, 60 miles; total operated, 308 milee. 'l'his is
one of the most important of the so--oalled " coal roads," and was able
to maintain moderate dividends during the past years of deprossion.
It is one of the peculiarities of the company's annual report that nogeneral balance shoot is given . The earnings, expenses and income
account for the fiscal year ending Nov. 30, 1880, were as follows :
Gross
Net
FromReoeiptil.
Expenses.
Receipts.
Coal. ......................... $5,352,604
$2 ,480,316
$2,872,288
Freight. ....... . .............. 1,879,573
1,171.258
708,3 15
Passengers, Express & Mail.
530,812
350,782
180,029
Totals .................. $7,762,mJO
$-!,002,357
$:1,760,633.
1879 ...... . ... . ......... 5,932,325
2,996.981
2,935,344_
rncrease .... . ................. $1,83u,Gu5
$1,005,376
$825,288
'l'he iucomo from all souroos, including interest received from investm ents, &o., runounted to ... . ..... ... ................. .. ..... . .. . $B ,000,938
Operating expenses of the road ................................. 4,002,35 7_
Net income ..................................... . .. . ...... . $ ,!,598,580
Out of which there was pai.drnterest on Bonds ...................................... . ....... . $1,630,112
Dividends--four per cent on common and 10 on pref. stock .. . 1,108,757'
Gtmeral oxpense, interest on floating debt, taxes, loss on
Morris Canal and ou coal ope rarions . ... . : .. .. ....... . ...... ..
742,952
Amount charged to meet estimateu a ccumulated d e preoiu,.
tions ................................... , . . . . . . . . . . . . . . . . . . . . . . .
990.338_
$-1.47 2,161
Leaving....... . ................ .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 126,418
FREIGII1'.
Year.
Tons
one mile.
Tons.
943,236,161
1875 . . 5,022,400
1876 .. 5,6135,167 l,133,834,82 8
1,080,005,561
1.877 .. 5,513,308
1878 .. 6,098,445 1,3-10,467,821
l879 .. 7,54 1,294 1,733,423,440
1880-. . 8,350,336 1,851,166,018
,--Por ton per mile.--..
Revenue. Recejrits. Cost.
Profit.
Ce nt.
Cent.
Cent.
$
9,639,038 1·010
·737
·273
9,405,629
·8 17
·5 61
·256
9,4 76,608
·864
·573·
·291
10,0-18,952
·73 1
·474
·260
11,288,260
·G81
'398
·24-4
14,077,294
·750
·435
·315
P.ASSE:KGERS.
,--Per passenger per mile.Revenue. Recei pts.
Cost.
Profit.
$
Cent.
Cent.
Cent.
1875 .. 3,170,234 1 64,950,861 3,922,798
2·378
1 ·735
·643
1876 .. . 3,119,923 175,510,501 3,664 ,14.8
2·090
1·438
·652
1B77 .. 2,742,295 138,116,618 3,203,200
2 ·31!)
1·539
·780
J.878 .. 2,746,032 133,702,021 3,057,393
2·287
1·166
1·12]
1879 . . 2,822,121 141,162,317 3,138 ,003
2·223
1·4.48
·775
11380 .. 3,313,485 176,148,717 3,7(:il.008
2·135
1·341
·794
-V. 30, p. 478, 490; V. 31, p . 20, 259,672; V. 32, p. 183,478. 497,
679; v. 33, p. 225, 321, 70!:l, 71(3.J
LalDrence.- De-0. 31, 1880, owned from Lawrence Junction, Pa., to
Youngstown, 0., 1 8 miles; branch from Canfield Junction to Coal Fields,
O., 4 miles; total operated, 22 miles. The branch was built by another
~pany and merged in this company April 23, 1873. The Lawrence
:Railroad was leased June 27, 1869, to Pittsburg Fort Wayne & Chicago
~ - a.t 40 :per cent on gross earnings, with $45,000 per year guaranteed
~.a.minimum. Leaselias been transferred to Penrn,ylvaniaCo. , bywbicll
the road is now operated. Sinking fund has $~6,000 bonds, deducted in
amount of bonds given abo-vo. Gross earnings in 18 80, $165,333; net
earnings, $81,002; rental received from lessee, $74,133.
Lehigh <I: Hud,<101, Rive1·.-This roa,d is in progrPss from Warwick Valley imad to Belvidere, N . J .,41 miles. Ronds offered by Sheldon & Wads -wonb, New York, August, 188 L (V. 33, p. 201.J
Lehigh d: Lackawanna.-Doc. 31, 1879, owned from B ethlehem, Pa.,
to Wind Gap, Pa. , 25 miles. This coal road was opened in 1 8 67. It is
1eMed' to the Lehi~h Coal & Nav. Co., :1Ucl operated by Central RR. of
New J ersey. Of the above bond.a, $100,000 are a first mortgage, and
'the $500,000 second mor4:tage are income bonds. Ca.pit.al stoclr, $375,100. Gross earnings in 1880 $43,753; net earnings , $11,560.
LeAigh Valley.-Nov. 30, 18_80, owned :k-om Phillipsburg (Pa. Line), N ,
J .• to Wilkesbarre, Pa., 101 rmles; branehe1>-Penn Haven to Audeuried.,
18 mUes1.Hazle Oreek Bridge to Tomhkkeu (and branchos), 32 milM ;
Lumber x a.rd to Milnes ville (and br:111ches), 18 miles; Black Cr<'ek J unction t8 Mt. Canmel (and branches), 61 miles; Slatedale branch, 3 miles;
.l3ear Q.reck Jllllct.ion to Bear Creek, 5 miles ; Lackawanna Junction to
Year. Passengers.
PassenGers
one mile.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
D co. 1 , 1903
Oot. 1, 1882
May 1, 1885
Oct. 1. 1892
July 1, 1885
AJ)ril 1, 1886
July 1, 1882
Sept. 1, 1886
April 1, 1898
Aug. 1, 1906
Jan. 1 , 1890
July 1, 1887
July 1, 1887
July 1, 1888
Oct. 1, 1 881
Var.toJ'ly,'97
Jmw 1. 1894
Jan .• 1882
Aug., 1895
July ·l, 1911
Deo. 1, 1907
Jan. 15. 188:l
JUl.18 , 1896
Sept., 1910
1898 & 1923
1920
Jan., 1892
Dec., 1881
May, 1883
1894
July 18, 1881
Ja~. 1, HIOa
Jan. 1, 1906
to be ca rried to the credit of the profit and loss account. Oper a tions and
ea,rnings for tlve years past were as follows :
Pas enger .Mis . .I<'reight,
Gross
N et
· Div
Years. M.Uos. Milea,ge.
Mileage.
Earning-s.* EaruingR. p. ct
1875-{5 .. 302 33,388,877
69,902,718 $7,049,647 $3,200,.8 97
9
1876-7 .. 301 16,657,397
86,712 ,311
6,488 ,037
3,325,215
5½l·
18 77-8 . . 303 13,718,758 112,557,966
5,5 3 2 ,738
3,075,8 11
4
1878-9 .. 303 15,082,571 1 50,540,605
5,932,325
2 ,935,34<1
4
1879-8u. 303
.......... 166,178,752
7,762,990
3,760,633
4
* Does not include receipts from interest, &c., which are large.
-(V. 28, p. 95; V. 30, p. !H, 219 ; V. 3:!, p . 9 8 , 183; V. 33, p . 588.)
Little llfiami-. -December 31, 1880, owned from Cin(lin.uati, 0., t(}Springticld, 0., 84 miles; branch, Xenia. 0., to Dayton, O ., 16 miles
lea.sod, Columbus & Xenia Railroad, Xenia to ColwnblL'3, O., 55 miles
Dayton & Western Railroad, Dayton, O .. to Indiana State Line , :37 miles
Oluo State Line to Richmontl, Ind., 4 miles; total oporn.cd, 196 miles. T he
Little Mi:uni Railroad proper extends from Cincinnati to Springtlelcl, but
the portion betwet'n Xenia and Springfield is now oper::-.ted as a branch
for tile remainder of the main line, as given above , the Col. & Xenia
road, Columbus to Xenia., is used. On Jan . 1, 1865, they leased t.tle DaytoR & West. (Dayton to I nd. State line) and the Rich. & Miaini (State line
to Richmond). and on Feb.4.1865, purchased the road from Xenia to
Dayton; these three roads go to form the branch of 57 miles criven
above. The partnership a,?:eemcnt wa.s dissolved November 30, i868,
and a contract made by wnich the Columbus & Xenia rooo, includ.in~
its interest in the above-named branches, wru, leased to the Little Miam.J.
for 99 years. Ou December 1, 1869, the Little Miami, with all its
branches, &c., was leased to the Pittsburg Cincinnati & st. Louis Rail
roa.d Company for 99 years, renewable forever. The Pennsylvania
Railroad Company is a party to the contract and ~arantees its faithful execution. Roa-dis now operated. by Pennsylvama Company. Lease
r ental is 8 p er cent on capital stock, rnterest ou debt and $5,000 per
annum for Little .1.Vliami Compan;v's expenses of organization; the fulfilment of the lessor's lease obligation is also stipulated. In 1880 the net
income of the company was $686,375 ; interP,5t and all oharge.s, $668,
0 03 ; surplus J an. l, 1 881 , $13~,032. Nei loss to lessee, $160,5 12 in
· 1880, a,gai.nst $182,4.77 in 187:J. (V. 30, p. 382 ; V. 32, p. 155, 498.)
LUI-le Rook & Fort Smith.-Dec. 31, 1880. owned.fromLittle Rock,Ark. ,
to Fort Smith, 165 milei;; branches, 3 miles; total, 16 . In Dec., 1874,
the property (the:1 100 miles) , including the land grant, was sold in
foreclosure. This company afterwards built 65 miles, and opened th.e
road to Fort Smith July 1. 1876. Six coupons of July, 1876, aud after
w ere funded into 7 per cent notes ($560,100). In tlle yea.r 1880 the
gross eamings were $510,287 and net earniu~s $252,459. Tlle land
grant is 848,604 acres unsold, and in 1880 73,590 a cres w 1·e sold at an
averag-e price of $3 92 per acre. (V. 30, p. 17, 43, 19Z, 384; V. 31, p.
305; v. 32, p. 467.)
Little Rocle Mi.ssissippi River & Texas.-Dec. 31, 1880, owned from
Little Rock to Arkansas City, 114 miles; .Arkansas City to Monticello,
4~ miles; Little Roclr to H.ob Roy. 4 miles; total, lflO mile& '.rllis company was a reorganization of the Little Rock Pine Blu.tl" & New Orleans
Railroad. and the ' Mississippi Ouachita & Re-d River Ra.Uroad. Both
those companies received. land grants and State aid bonds. Tt e stock
is $2,606,000. Elisha Atkins, President, Boston, Mass. (V. 30, p . 169.
v. 33, p. 201.)
D~OEHBER,
1881.]
RAILROAD $TOOKS- 4-ND BONDS.
S ubsc ribers "Will conCe.r a gr~at Cavor by giving ltntnedlate notioe oC any error d111eovered In thes e Tables.
I
.
DESCRIPTION.
INTEREST OR D IVIDENDS.
\B 11nds-Prinei~ - - - - - --- - - - - - - - - - - - 1 M1.les Date s1ze,or A
- -- - -- - - - - - - - - - - -·pal,Wh~n D n&.
For explanation of column hea.dings, &o., see notes of
of
Pn,r O uts1ri:~.,. E,a1;e per When Whore Payable, and by Stock.a-~
0
on first page of tables.
Road. Bonds Value.
Oent. Payable
Whom.
Divid6nd.
L ittle Schuylkillr-Stock.. .. . . . . . .. . . . .. . . . . . ... . .. . . .
1st mortgage, sinking fund, extended 1877 .. .. __ .
E.()ng Island-Stock .... .. _. . . _......... _..... . ... .. . .
l at mortgage, extension.... ... . ........ . ... ... .....
1st mortgage, Glencove Br ........... __ . _. .. __ . . __ .
1st mortgage, main.. . .. . .......... .. .. .... ....... ..
2cl mort. for floating d P-bt ($ 1,500,000).... .. . . . ..
Consol. mortEage (for $5,000 ,000) .... . . . _....... _.
Newtown & .t<'luslnng, guar. .... . .. . . ..... . . .......
New York & Rockaway, guar. int.. only.. . ... . .. ..
Smithtown & Port Jefferson. ... . . . . .. . . . . .. . . . . . ..
Atlantic Ave. improvement oerts...... . . .... .. . . . .
Long Island City cf: Flushing-1st mortgage.. .. ... .
Income bonds (cumulative) .... ...... - .. . . . .. . . . . . .
Los Angelos cf: San Diego-1st mortg a ge . . . . . . . . . . . .
liouisv. Oin. & Lex.-Lou isv. Cin. & Lex., lst mort ..
Mortgage, coupon, for $1,000,000 . . . . . . . . . . . . . . . . .
General mortgage. for $7,000,000.... . ...... ......
Louisvill.e&Nashville-Stock ........................
General mortgage, gold, coup. or rep;.. ......... .. .
Louisville loan, main stem (no mortgage)........
Lebanon branch, Lonisville loan .... . . . . . . . . . . . . . .
•L bdo
eKxtensi_o n, Louitsville loan...... .... .. ...
e anon- noxv111 e mor g a ge._ .... . . . .. . ....... _.
Cecilia,n Branch, 1st mortgage . ... . . . . . . . . . . . . . . . .
Consolidated 1st mortgage for $8,000,000........
2d mortgage bonds, gold, coup..... . ... . . . . .. . .. .
Memphis & Ohio, 1st mort., sterlin?, guar . . _.. ...
Memphis & Clarksville br .. 1st morli., sterling....
Mort. on Ev. Hen. & N., gold . . .. . . . . . .... . . . . .. . . .
Trust Company oertificatos........ . . . . . . . . . . . . . . . .
lat m o1'tg-ago on New Orleans & Mobile RR.... . .
Sink.fo.bds.,secu'd byple'geof 2dM.8.&N,. Ala.RR.
· 1st M., gold, on Southeast.& St.L.RR.,coup.or reg.
2d mortga~, gold,
do
oouP,..... .. .
P en sacolaviv. , l stmort ..... . .. . ........ . ..-.......
31
31
3io
....
95
1::i6
....
4
10
19
....
....
. ·2·1·
175
175
....
960
840
....
. . _.
. ;.,.,·_
1 9
46
392
392
130
83
115
....
141
. ...
2W
2 1~
4v
I 1877
....
$30 $2,646,100
1,000
468,000
....
50 10,000,000
1860
500
175,000
1868 500 &c.
150,000
1868
500
1,121,500
1878 100 &c.
986,772
11:l8 l
....
{i)
1873
500
100,500
1871
500
250,000
1871
500
600,000
1877
.. ..
114,900
1 88 1
1,000
ono,ooo
1·8·8· ·o
1·,o··o·o
535506,,00000J
1867
1 ,000
2,900,000
1877 100 &c.
892,000
1881
... .
..
100 18,130,9131 88.0
1,000 10,361,000
....
....
850,000
1856
1,000
225,000
1 ,000
3 3 a.ooo
1 8 63
1 , 5 00 , 0 0 0
1 ,0 00
188 l
1877
....
1,000,000
18 68
1,000
7,070,000
1873
1,000
2,000,000
1871
£ 200
3,500,000
1872
£ 200
2,203,840
1 879
1,000
2,400,000
1879 100 &c
492,200
1 880
....
5,000,000
1 880
1.000
2,000,000
188 l
1,000
3,500,000
188 1
1,000
3 ,~ oo,~go
1880
1 ,000
6 0 0. O
m
IAttle SchuylkUl.-Nov. 30, 1879, owned from Port Clinton, Pa.,
Catawissa RR. Junction, 28 miles; bra nches, 3 miles; total operated,
31 miles. The E ast Mahanoy RR., was loaaed J an.12, 1863, for 99 y earf!,
and sub-leased to Phila. & R ea.ding J uly 7, 1868. The Little Schnyl1dll R::;tilroad is leased to the Philadelphia & Rea.ding Railroad fo r 93
y ears from July 7, 1868, at a fixed annual rental. Of the stock, $158,250
18 h eld by the company, and n o dividends are declared on this.
Long Island.-Sept. 30, 18 80, owned from Long I sland City, N. Y., to
Greenport, N . Y ., 95 miles; branches, 65 miles; total owned, 160 miles.
Other roads controlled and operated in 1879- 80 were as follows:
NameMiles.
NameMiles.
Smithtown & Pt. Jeffer son RR. 19·0 Oentra1 Extension RR .... ..... 8·1
stewart RR. to Bethpage . . ... 14,5 Whitestone branoh . . . . . . . . . . . . 4·0
stewart RR. to Hempstead... 1·8 Great Neck branch... .... ..... 6 ·7
Ne~ Y ork & Rockaway RR... 8·9 Woodside & F l ushing branch.. 3·9
Brooklyn & J amaica RR . . . . . . 9·6 Brooklyn & Montaulr. ......... 51 ·5
Newtown & Flushing RR.... . 3 ·9 Hunter's P oint & So. Side RR. 1 ·5
New York & Fhishing RR .. .•.. 2 ·7 Far Rockaway branoh . . . . . . . . 9·4
F. N. S. & Central....... ....... 7·8 N . Y . & Long Beach . ........ . . 6 ·1
The total of all the roads owned and operated is 3 20 miles. The Long
Island RR. went into the hands of a Receiver October, 1877. The sec0
~~~s:~rt&f:ra~0J~t:I~:iu~~J~ ::~~ ~~: r~\!!1o1o~!~tu~~e~a~ii°~
mortgages. and are now oper ated under temporary arrangements.
The oonti-ol of the company sold to Mr . Austin Corbin and others in
Dee., 1880. In July, 1881 , stock increased to $10,000,000. In Aug.,
1881, holders of Smithtown & Pol't J efferson bonds and N. Y. & Rockaway bonds agreed to exchan_Ge their bonds for a consol. mortgage, bearing.,5 p er oent. In Ootober, .t831, R eceiver was disch ar ged .
The annual repor~ i'or the fiscal year ending September 30, 1880, pulJ
Ush ed in the CHRONICLE, V. 32, p. 6 8, made the following exhibit:
1878-9.
1879-80.
'I'otal receipts . . . ... . ..... .. . ......... ....... . $1,617,949
$1,811,84
Operating expenses........ .. .. .... . ......... 1,279,590
1,365,855
N et earnings.......... .. .................. $338,359
Payments other than fo r construction were as follows :
1878-9.
Transportation expenses . .................. . $1,279,590
Inter est........ ....... . .. .. .... . . . .. . . .. .. . . .
205,173
Rentals of other roads. .. ......... . .. . . . . . .
193,304
Enrnini:,'B for other roads and ferries . . . . . . . .
107,660
F-unde<l clebt.. ... . . . . . . . . . . . . . . . . . ... . .. . . .. .
138,350
Floating d ebt prior to receivership . ....... .. _
31,799
A ssessment Long I sland City......... . . . . . .
. ..... . .
Tota.I ..... ... . ... ........... . .. .. . ........ $1,955,878
$445,993
1879-80.
$1,365,8.- 5
228,120
165,399
.ii,;500
4,366
54,313
$1,834,55 5
pi 1878- 9 payments of $111,240 were made on aocount of construction
and equipment, and in 1879-8 0 $156,314. Earnings for five years p ast
were as follows :
·
Years.
Miles.
Gross Ea.rn'gs. Net En.rn'gs.
1875-6... .. .. .. .. . . . . . . . . . .. . . . . 259
$1,149,897
$398,736
1876--7.. ........................ 323
1,4 73,178
412,70]
1877-8 ... .......... ... .. . . . . ... . . 323
1,497,914
497,895
1878-9 . ........ . .. .. . .. . . ... .. . . 3 25
1,617,950
338,359
1879-80 ...... . .. 0 • • . . • • • • • • • • • • 326
1,811,848
445,993
--(V. 30, p. 6 5,322; V. 31, p. 588; V. 32, p. 1 6, 44, 68, 183, 231,526;
V. 33, p. 23, 154, 201, 225,303,442, 642, 687 .)
L os An gelos & San Diego. -Flore noe
to Santa Anna., Cal., 27 miles.
Leased to Centr al Paeific, and in 1880 the net earnings paid as rental
were $ 5,564. Capital stock $570 ,800. Chas . Crooker, President, San
F rancisco.
Long Island Oily cf: Fl-u,shi1ig.-This is a reorganization of the F lush i n"" & North Side road, foreclosed D ec. 11, 1830. The stock is $ 500,000;
312
7
J. & T
Pliiladelphia. Offioe.
A. & 0.
do
....
Company's Office.
M. & N. N . Y., Drexel, M. & Co.
M . & N.
do
do
M. & N.
do
do
F. & A.
do
do
....
......... .
bf. & N. N. Y., Drexel, M. & Co.
A. & 0 .
do
do
.M. & S.
do
do
....
do
do
M:. & N. N. Y ., Corbin Bank'g Co
J . .&
.. ·J. N. Y., 0· ;..;.~·l·P· "'c1"flo.
" u, .. '-,f. & J. ~1.Y.,Imp.&Trad.N.Bk .
A. & O.
do
do
7
6
7
7
5
7
7
7
7
6
·,;n
..t; .
7
7
....
3
6 g.
6
6
G~
7
7
7 g.
7
6 g.
(3 g.
6
G g.
6
6 g,
3 g.
5
July 18. 1$ll
Oct., 1882
18 73
May, 1890
May, 1884
. May, 1898
Aug. 1, 191S
.. ..... .
l\Iay. 1891
April, 1901
Sept .• 1901
1881-82
May 1. 1911
Jt1ii·i;"i910
Jan .. 1897
1907
1931
F . .&..A. L.&N:Y:,"e{iwanst. Aug. 1, 1881
J. & D. Louisville & Now Yorlc. June, 1930
A.. & O. N. Y., Bank of America. 1886 & 1887
Various
do
do
1886
A. & 0. L. & N. Y., D., M . & (',0. Oct. 15, 189~
l\f. & N . New Y ork, Agency.
Maroh 1, 1931
M. & S. N. Y., Drexel, M. & Co. Mar. 1, 1907
A . & 0. L. & N. Y ., D., M. & Co. .April, 1898
M. & N. N. Y. and Louisville. Nov. 1, 188!
J. & D. London, Baring Bros.
Deo., 1901
F. & A.
do
ao
Aug-., 1 902
J. & D . N. Y ., Drexel, M. & Co. D ec. I , 191G.
A. & 0. N. Y., 0 ntral Trnst Co. ·o ct. 1, 1 884
J . & J . N. Y., Drexel, M. & Co. Jan. 1, 1930
.A . & 0.
New York, Agents.
April 1 , 1910
M. & 8.
Now York Agenoy.
Maroh 1, 1921
M. & 8.
do
do
Maroh 1, 198&M. & 8.
do
do
Mar. 1, 192'r
LottiS'Ville <t Naslwille.-.Tune 30, 1 8 81, mileage was as f ollows :
Main lineMilos .
Hil~.
Louisville to Nashville... . . . . 185 S elma to Pineapple, Ala... . . .
40
Branches- ·
·
H enderson to Nashville.. ... . 135
Junction to Bardstown, Ky . .
17 Pensa.oola Extension. . . . . . . . • .
3~
J unction to Li vingaton, Ky . .' 111
J unction to Richmond, Ky.. .
34 Total owned . .... . .. .. ...... . . 1 .4:Ja
Mo ntgomery to Mobile .. . ... .' 180
Leased and oontrolled- · ·
N ew Orleans to Mobile . . . . . . . 141 J unction to Glasgow, Ky .. : • .
Bra.nob to Pontohart1·run .... .
,,_ G Nashville to Deoatur .. .. .. .• :
Paris, Tenn., to Memphis .... . 2 v 9 Deoatur t o Montgomery ......
Louisv. to Ccoilio.n. Juno. , Ky.
46 J unction P a ris & Evausvill&
East St. Louis, Ill., to EvansRR to O wensboro, Ky ... . .
ville, Ind........ ... .. .. . .... 161 Lebanon to Groensburg .. ... .
J unc.,Ill.,to SlmwneetowTt,Ill.
41 Selma to Montgomerr .... . .. .
Belleville, Ill .. to O'Fallon, Ill.
6
Pensacola, Fla., to Pensacola
Total leaaoo. o.nd oontrolled.. 4U
Junction, Fla .. . ... _... ... . .
4 4 Total operated June 30, 18 81 :1,8~
Branoh to Muscogee dock .. . .
1
Purchased in July, 1881, the Louisville Cin. & Lex., 175 miles. ·
The general mortg. of 1 880 is for $20,000,000, of whioh $9,71 6 ,000 ia
reaer yed to pay oil' prior liens. For the St. Louis & 8011theast. r o<lds the
$492,000 Trust Co. oortifl.oatea were issued, seoured by $ 8 00,0 0 0 of tile
E. H. & N. bonds ; they are redeemable any April or Oot., on 30 daya
notice. Tho 8011theast. & St. Louis RR., whioh was reorgani7tod a&rfor ..
closure of tho St. Louis & Southeast ern, Nov. 16, 1880, is lea.sod to Uu,
LouisYille & N ashville for 4 9 years, and the L . & N. issues its b on d s , .
aboTe, secured on tho r oad, a.1Jout 210 miles long in Indiana and lilino~.
There is also $999,500 of $. E. & St. L. stock. The L. & N. LebancmKnoxvillo bonds of 1881 oover 110 mile!!, subject to prior liena, and 6~
miles b 11ilding from Livingston to State lino as a firs, lien. Tho priooa
of stock have been:
1 88 0.
1881. ·
1880.
1881.
J a n . . ... . 127 · 86:tg
9 4 19-x:87
July .. . .. 126 -ll8x: 108~-x981s
Feb ..... . 1 46 -11612
9 4 34- 7 9
Au~nst .. 132 -115
10419- 90
March .. . 164 -13 9
9Ti - 85½! Sept'ber. 160¼-130
99 - 9219
April ... , 16419-115
101½· 9012 Oct ober . 17319-155
96¼· 9014
May . ... : 1 33 -120
11012- 9919 Nov'ber. 174 -x84
10018- 91:Jt,
.Tune ..... 1 28 -120
10912-106
Dec'bcr . 89 • 77
...... --·-··
The annual report for 1880-8 1, in tho CHBONICLK, V . 33, I. 439, ga·v4'
an fl.ccount o f the val'lous acquisitions in that year. The c1 mparat.iv•
statistics were a s follows, not, iucluding Naallv. Chat. & St. L ruia, vrll.1tb.
is reported separately:
1877-78.
1878-79.
1879-80.
18S0-81.
Milos owned ..... ..
062
660
880
1.431
304
3 l2
960
434
Miles ls'd & contr'd ..
----- ----- --------D66
972
1,840
1,42:'i,128
3,723,643
458,828
l,'267,797
3,6~7 ,9.!5
491 ,874
1,700,207
5,135,985
59U,651
5,Go7,59D
3,263,356
- -- - Net earnings .. ....
2,344,243
5,387,596
3,155,824
7,435,84 3 10,9 : 1.sso
4,208,199
6,928,524.
2,231,772
3,22 7,613
3,953,12&
1879-80.
$
3,22 7,643
$
Total operated ..
Eal'ningsP aRsen ger ... . . ... . . .
Fre ight .. ....... _... .
Mail, express, &c* ..
$
Total gross enrn'gR . .
Op. ex. (incl. taxes) .
$
$
I .87:1
$
2,599,353
7 ,407,403
9 0 4,8~
* Includes rents, rent of oars and engines, &c.
INCOJl:[E ACCOUNT.
1877-78.
ReeeiplsNet earn'gs,all s•rcea
Disb-ursernents-Rentals for cars, &o.
Rentals .. . ..... ..... .
l nt.on d ebt (all lines)
Di.sc'nt on bonds, &o .
Dividendst ...... ... .
Adv's&int.S.&N.Ala.
So.&No·Ala. st'g bds.
Miscellaneous . . .. . . .
$
1878-79.
$
2,481,8 -U
4,208,335
Leased to Long Island .RR. for 5 0 yea.rs. (V . 33, p. 1 54, 46S )
149,149
119,825
. . . .. . . .
·oQ,{,-66
·62.ooiLo-uis'lfille Oincinn atl ~ Lexington.- .Tun e 30, 1880, ow ned from Louis1,5.iP;71_"1 1,548 ,129 2,0 50 ,900 2 ,912,329'
ville, _Ky., to Lexington, Ky., 94 miles; J unction to N ewport, Ky.,
8 1 m1lea; leased-track at Louisville, 4 milea; N orthern Divis io u ,
~2'!!1., 140
236,840
69,750
. ·-· · · -34 miles; Shelby Railroad, 19 miles; total operated, ·233
_:
459,998
323,120
1,221,oos
368.727
14.0,271
The old road was sold in foreclosure October 1 , 1877 , t o the second
67,143
·-···· ··
""" '" ""·
mortgage bondholders, and this company was organized. The stock if,
62,613G
66,713
. . . .. ...
· · ···- 30,6 ,9
26,289
39,93~
6,3'4.li
$1,000,000 oommon and $1,500.000 preferred, having l:,een increase d in
.Nov., 1880. Four p er ocnt d eclared on preferred stock J uly, 188 1. In
July, 188 1 , a oontr ol1.ing iuterest in the stock was sold to Louisville &
3,042,369 "'4, 192,3M
Nashv. Operations and earnings for three yea.rs past were as follows:
Total disbursements 2,4U2,34 9 'z ,524,937
Passenger
Frcig-ht (ton)
Gross
Net
_B_al_a_nco · · · ·· · · · · · · · · D ef.l 45 ,326 Def.43,096 Sur.185,274 S ur.25 6,,840
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings.
* $24Q,869 of this is to be refunded t o the L . & N. Co., and la 1nolucle4
1877-8. ... .. 213
13,379,360 $27,158,428
$978,08 3 $294,160 in the b alance of $256,8,10.
1878-9. ... .. 213
12,984,240
28,3 :3 9,773
958.121 - 32A,925
t On L. & N., N. & D., a nd Mob. & Mont.
1 879- 81) .... 232
15,484,890
34,22~,143
1,129,632
425,270 - ( V . 3l. p . 45, 9 5, 122,135,191, 217, 283 , 306,328 , 382, 403,'4™', 51C.
- (V. 29, p . 147: V . 30, p . 169; V. 31, p. 259, 454, 60 6; V. 32, p. 16; 551. 588, 6 ~2 : V . ?2, p. !6, 39, 44. 7 0,231. '.WR. 437, 444,; V , 3 3~ ._
v. 33, p . 47, 560. )
1124, 201, 22 .>, 322, 308, 380, 1,12, 43 9 , 463, 469, 7 16.)
par, $100.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2,327,023
RAILROAD STOCKS AND BONDS.
[VoL.
XXIII.
8nbllcrlben will conCer a grea& favor by giving lnunedlate notice oc any error dlseoTered In the•e Table•.
DESCRIP1'ION.
INTEREST OR DIVIDENDS.
Bond,s-Princi ·
- - - - - - - - - - - - - - - - - - - - - - , Miles Date Size, or
1-----,---------,----------- pal,When Dnc,
Por explanation of column headings, &c., see notes- of
of
Par o:is'f~~ Rat~ per When Where Payable, and by Stocks-Last
on first page of tables.
Road. Bonds. Value.
Cont. Payable
Whom.
Dividend.
I,ouinnlle cf: Nash'Dilte--(Continued).Mobile & l\fontgonl('.ry Div., 1st mort ............ .
:Pensa,,'()la & Selma Div., 1st mort ..... ...... .... . .
PeDR.'1Co1a & Atlantic, mort .• guar .... . ... .. ....... .
New Orleans Mobile & T exas d ebenture scrip ... .
~ouis'IJ ilk New .A.tbany cf: Chicago-Stock ........... .
1st mortgaii;e . . ... ................................. .
M~rt1:p,ge, gold, on Chic. & Ind_ianapolis Div .... .
J,01Lisville New Albany cf: St. Low1,s.-lst rnort ..... . .
I,owcU cf: i,·r amingham-lst mortgage boud.s ....... .
Lykens Valley-Stock ............ . .................. .
.J{eKean cf: Bitffalo-lst mortgo.ge ........ ........... .
Mahoning Goal.-lst mortgage, coupon ............ .
Maine Central-Stock .... .. . ............ .... ....... . .
.1st mortgage, consolidated ...................... .
13onds ($1,f00,000 Joan) A. &. K. RR . . ..... ..... .
E~s10n bonds, 1870,}!old .. .. ... ..... .. ........ .
Mame Central loan for :i,1,100,000 ............... .
Leeds & Farmington Railroad loan .. ............ .
.Androsco~gin Railroad, Bath rnty loan .. . ....... .
Portlaud ~ Keunebec, 1 st mort., extended ...... .
do
do
consolidated mortgage ... .
Ma~huter cf Lawrence-Stock . ....... . ........... . .
Mmihattan Beach Oo.-Stook .............. . . .... ... .
N. Y. Bay Rid,E'e & J ama.ioa RR., stock, guar . . .. .
.N. Y. & Man. ,tleach RR, lst ,mortgagP. . ......... .
:Man. Beach Impr. Co. (L\mited) , mortgage bonds
-N. Y. Bay Ridge & Jam. RR., 1st mort. (guar.) . . .
~anllattan Elevated-Stock ......................... .
Mariella & Cincinnati- Lat mortgage, dollar . ... .. . .
let mortga~e, sterling ............................ .
21l mortgage ....................................... .
3<.l mortgage ....................................... .
·v:illcy Jiii:; ist ~·ox. ~age::::::
tto~o~tft~~tiig
Ealt. Rhort Line. stook, 8 p. c. ,!ruR.r b~. & C . ..
lB0
104
185
;zs~
288
158
··2s
1881
188 1
1881
1880
1881
1880
1 871
20
22 i 875
43 1872
3 51
304 i872
65 1860-1
18 1870
109 1868
36 1871
30 1 866
71 1863
71 1 865
26
14.12 1877
. . . . 1879
812 ....
44
188
188
, ...
•...
•. . .
....
....
1861
1861
1866
1870
1873
1866
2,950,000
1.248 ,000
3.000,000
3,000,000
5,000,000
100
1,000
3,000,000
1,000
2.300,000
3,000,000
1,000
500,000
20
600,000
1,000
308,000
1,48 6,000
1.000
3,603,300
100
100 &c.
3,901,600
100 &c.
1 ,100,000
500 &c.
496,500
756,800
100 &c.
100 &c.
633,000
100 &c.
425,000
217,300
100&0
100 &c.
1,166,700
1 ,000,000
100
4,680,000
3-00,000
500,000
500 &c .
1,000,000
500 &c.
200,000
500 &c.
100 13,000,000
2,450,000
... .
1 ,050,000
... .
2,500,000
... .
3 ,000,000
... .
4,000,000
..•.
300,000
1.125,000
$1,000
1,000
1,000
Loui81'. N. Albany &: Ohie.-Dec. 31, 1880, owned from Louisnlle, Ky.,
.6
6
6
M.&N .
M.& S.
F. & A.
..6.
J. °t,r,.. J. N.Y.,Nat:.i3Ji::commerce Juiy ..i,..i910
do
do
Aug. 1, 19Ll
New York Agency .
do
<10
do
do
May 1, 1931
Mar. 1, 1931
Aug., 1921
6 g. f'. & A.
A.·&·o. Boston:oid·c··oionyRR.
Q.-J.
New York. Treasurer.
J. & J. Buffalo, .Manuf.&'.rr.Blr.
.T. & J. N.York, Union Trust Co.
Api·ui·;·isn1
Jan. 2, 1881
Jan. 1, 1!:105
J an. 1, 1902
A. -&-·o. Boston,..2d..Nat. Bank.
7
6
M'nthly
do
do
6 g. A. & O.
do
do
7
J. & J.
do
do
6
J. & J.
do
do
6
Q.-J.
do
do
6
A. & O. Portland, 1st Na t. Bank.
8
A. & O. Boswn. 2u Nat. Bank.
5
M. & N. Manchester and Boston.
Aprii
.i912
1 890 to 1891
Oct., 1900
July, 1898
July, 1901
July, 1891
Oct. 15, 188:l
April 1, 1 95
Nov. 2 , 1881
7
7
7
·i;
Jan: ·
:i:,· .i897
J. ·&· · j. .N. Y., corbin.iltink'g Co
M. & S.
March, 1909
do
do
J. & J .
do
do
m
Ii: Garret·
F ..&. ·A. Bait.,
& Sons.
7' g. F. & A.
London.
7
M. & N. Balt., R. Garret & Sons.
8
J. & J.
do
do
8
A. & 0.
do
do
7
M. & N.
do
do
4
J. & D .
do
do
Aug."1,--i891
Aug. 1, 1891
May 1, 1 896
July 1, 1890
April, 1908
May 1, 1-896
D ec., 1880
RR. The New York Bay Rid~e & Jamaica. Railroad is leased and the
to Michigan City, Iud., 290 miles. In Aug ., 1881, consolidated with bonds and stor.k are guaranreed. In December, 1881, a lease of tho
Chicago & Indianapoli.a Air Line, llJld stock inereased to $5,000 000, New York & Manhattan Beach Railway was made to the Long I sland
glving 15 per cent increase to stockholders of record Aug. 31. The L. Railroad for 35 per cent of gross earnings to the lessor, but t~e sum of
ti. A. & C. was opened in 1852 and sold in foreclosure Dec. 27, 1872, and $97,500 per year is guaranteed t-0 pay all annual charges. (V. 30, p
reorganized wit.bout any bouded debt. In 1880 (;!OBS earningi:;, $859,- 493; V. 33. p. 6 42.)
~69; net, $259,922. In 1 880 the company sold $3,000,000 of bonds to
"4fanhatlan Eleimtcd.-This is a corporation formed to lease and operate
&he stockholders at 20 oents on the dollar. The annual report was t.he two elevated railroads iu New York Cit y. Its capital stock is
:publillhed in V. 32, p. 181. (Y. 31, p. ~5, 15,2, 205; V . 32, p. 181, 335, $13,000,000, rmd it guarantees tile interest 011 the bon<ls of the two
:,26. 57-8; V. 33, p. 23, 100, 124, 176, 2o5, 412, 519, 687.)
elevated roads and certain dividends. The original lease guaranteed
L<misml le New Albat1y &: St. L<>uis.-July 1, 1880, owned from 10 per c~nt per annum on the stocks. but this lease was amended in
l ~len.n, lnd., to Alb '. on, Dl.t.45 miles. The whole projected line is from October, 188 l, by the ngreemcnts made substantially as follows: 1. A
New AJl.1any, Ind., to ~1ouot v ernon, Ill., 181 miles, and in May, 188 1, trip.1rtite agreement among tb.e three companies that the indebtedness
a contract was reported with n. Boston Syndicate for its completion. of the Manhattan Company to t.lle Metropolitan and New York be can
-(V. 32. p. 578,658; Y. 33, p. 468.)
r,eled, exoopt that the New York oompany ·should r eceive their divi
Lo ll cf: .Fr
· h
-Se t 30 1 881 th F
h
& Lo 11 clends due in July and October, and the int-erest due July 1 on the New
1·
.iownJe fro~ s~li.11'e~:il1gh~m, Mass., 'to io~~!Yi rn§a~~ 26
Yorl{ bondr- , the inter.est on the Metropolitan bonds alEO to he paid. but
Road opened Oct. 1, 1871, and wa,s leased from April 1, 1871, to Boston no back dividends on Metropolitan stock; the claim of the Manhattan
Clinton Fitchburg & New Bedford RR. co., and sinoe Feb. 1, 1879, Com?any a g atns_t t~e other two to b e ~ithdl'awn; and then the net
.operated by Old Colony RR. Co. on F eb. 14, 1880, a lca.se of the road eA.rrnngs to b~ di.;;tr1buted as follows: Fust, 6 p e r cent on New Yol'lt:
to B. c. F. & N. B. Co. for 998 years and 4 montbs, from Oct. 1, 1879, stoclr, then 4 p er cent on Metropolitan stook, provided that road shoul'l
was ratified. Sept. 10, 1881, sold at Sheriff's sale a,u d reorganized earn it; then 4 per .r,ent on Manhatta n stock, and then all the remn.m
nnder above name. The 8 per cent notes are surrendered for exohan~e ing surplru; to be equally divided between the three parties to the com~nd cancellation, and preferred stook. is issued for them and for unpaid p act. 2. A s upplementary contract wa,~ made imm ediately after be.(l()up<>ns to Oct. 1, 1881. Stock, $5-00,000, 5 per ct. Pl'"ferred and $500,- tween the Met,r opolitan and Manhattan representatives, hy which it was
l)()() common. (V. 30, p. 192, 408, 49::J; v. 31, p. 94; v. 33, p. 176, 303.
provided that the Metropolitan company should have a preferenee over
1 1he
Manhattan to the extent of G per cent out of its own earnings, and
I,yken.~ Valle'IJ.-Dee-. 31, 1880, owned from Millersburg.., Pa., to Wil· in 0011s1deration of this to r elinq1tish all claims to any proportion of the
liamstown, Pa., 20 miles; branch, 1 mile; total operated. 21 miles. A surplus of either road, thm~ giving to the Manhattan Company a claim
coal road leased and operated by tlle Northern Ocntrnl R ailroad since t,0 two ·thirds of the surplus earnings, 1ts own share and that of tile
~uly, 1880, and previously by the Summit Branch RR. Tile lease is for Metropolitan co. This was further supplemented by an agreement of
999 years from March 1, 1866, and the rental is $62,500 per annum.
Nov. 14, 1881. for the surrender of the stooks of the oth er compnnies
M.clI.e('(,n cf: B-u.f.alo.-Dec. 31, 1880, owned from Ln.rabee, Pa., to Cler- and the issue of n ew stocks by the Manbattnn Company, its follows:
.s nout, Pa., 22 miles. In 1880 gross earnin~s werti $73,869 and n et $3~,- To New Yorlc Elevated stockholders, $6,500,000 of first prefe rred 6 per
·0 43. The stock is $387,600. B. D. Ilanuin, PreHident, Smithport, Pa. cent stock cumulative; to Metropolitan stockholdtrfl, $6,500,000 second
Ma1wning Coal.- D ec. 31. 1880. owned from Andover, o., to Youngs- preferred 6 p er cent stock not cumulative ; and to Manh nttan stoclctown, o., 38 miles ; branches to coal mines. 5 miles; total operated. 43 holders, $13,000,000 of common stock. (See full contract, V. 33, p . 560.)
miles. It was opened May l, 1873, and leased for 25 years from that
Tbc company went iuto receivers' hands July 1 5 , 1 88 1. The state'1ate to L. Sh. & Mich. So. RR., at 40 per cent of gross earnkgs. Capital ment of the receivers in V. 33, p. 282, ha.d the following: During the
~ ik 1-s $1,~73,000. The L. s. & M. s. Co. holds $399,000 of the bonds period f!•om F eb. 1, 1879, to July 1 4 , 1 881, the earnings of the two
purollased under the a,,,,<TI'eement of lease. Net earnings in 1880 (4 0 per comparues, as shown by the books of the Manhattan, have been as
-~«mt of gross), $85 , 39 1.
follows:
N ew York. Metropolitan.
Maine Oent1·al.-Dec. 31, 1880, mileage was as follows: l\fain. line, Gross earn :n gs Sept. 1, 1879 to July 14, 1881. $4,939,491.
$4,213.677
Portland to Ban~or, Me., 137 miles; bra.1,,.beR, Cnmbcda n<l Junrtion to o
ati g expeuses
2 901 699
2 640 454
Waterville, 73 miles; Crow1ey's Junction to L ewiBton, 5 miles; Bath to
per n
,
· ········ ··· · ·· ·· ······· · ···
··
· ·
•
·
Farmington, 74 mil es: Waforville to Skowhegan, 18 ruit e.s; total owned,
Net earnings.••·· - • • • •· ·· • • • • •· ·· -··· - .. . ... ~~.o87,7\J2
$1,572,222
::,07 mil e R. Leased, Belfast to Burnham, Me., 34 mile,<, ; Newport, Me ., to Add n et earniugd Feb. 1 to Aug. 31, 1879.....
n42,0!)0
324,968
Dexter, Me., 14 mile s; total leased, 48 mile.s. Total operated, Doc. 31,
Total n et earnings ..... ..... ... . .... ... ..... $:.'.,ti7U,882
$1,S'Hi:1,191
1B80, 355 miles.
2,679,882
Thie waR a. consolida.tion in 1862 of the Androscoggin & Kennebec
B 0 th
d
$4 578 073
.Railroad and tbe Penohsoot & Kennebec. In An.gust; 1873, the Portroa s. · · · · · · · · • • · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · ••
•
•
land & Kennebec, Somerset & K enn ebec anrl Leeds & Farmington rail- Add oertain expenses allowed for in operating account . . . . .
49,704
roads were also oonsolidated with the Maine Central. The MnuaJ. report
Total net earnings ......................................... $4,627,778
was published in v. 32, p . 333.
Receipts from sale of Metropolitan RR. Co. bonds , old ma.Comparative statistics for four years are a.s follows:
terial, equipment, &-0 .•••••••.•••.•••.•••••••.•••••••.••••••• . 5,!H3,991
Earwi1igs1877.
1878.
1 79.
1880.
$10,541,769
Tot& gross earnings $1,648,175 $1,4:-J4,688 $1,508,377 $1,720,053 The total dishursements have been ... . .•.................... . 10,455,749
Net earnings........
644,6 37
593,983
638,308
652,905
nalance cash on hand. __ .. __ . . __ . __ .... _. . _. _.... _. __ . _...
$86,019
Total in(·ome. . .... .. $650,699
$599,957
$648,557
$659,565
The approxilnate earning-a for the year ending Sept. 30, 1880, were
Disb1,rs,,mentsEarning-a.
Expenses.
N et Earnings.
Rentals paid.. ......
$54,000
$54,000
$54,000
$54,000 Third A venue .. .. ..... ..... $2.205, 176
$1, 1 20.200
$1,084,976
Interest on bonds . .
523,410
560.38 t
569,179
569,059 Ninth A venue.............
387,489
307,000
80,489
Other interest, &c ..
26,109
3 ,845
3,726
1,013
- - - ·- - - - ---Total New York . .. . .. . $2,592,665
$1.427.200
$1,165,465
Total disbursem'nts $603,519
$627,226
$626,905
$62-1,072 Second Avenue............ $325,733
$247,300
$78,433
:Balance . . . . ...... .. . surp.47,180 def.27,2 69 surp.21,652 surp.35,493 SLxth Avenue ............. 1,695,501
959,200
736,36"1
· - (V. 28, p. 325; V. 30, p. 321; V. 32, p. 333, 658.)
tal M t
lit
$
$ 2
$814 794
MancMSter <E Lawren.ee.-Maroh 31, 1881, owned from Mancllestcr, N .
To . e ropo an.··· 2 •021 •294
l. 0 6 ,5 00
· .•
H., to Methuen (State Linc), 2214 1.niles ; leased, Methuen Branch of the
Allowml! for transfers at Chatha_m Squn.re, after the.payment.of mter.Boston & Maine Railroad, 334 miles; total OJ?erated, 26 miles. Road in cs 011 t,h.e oonds !h~ two comp~mes would h ave ea.rruugs applicable to
Ol)('ration since 1849. Former?· operated with the Concord RR. 118 one the payment of d1v1dend s on their stocks:
line, on a ba.s1s of two.fifths o the joint ea.rnings. Methuen branch is --opolito.n . . •....... .. . $205,344 I New York . .......... . .... . $636,16-5leaeed.at aren~al of $11,000 per annum. Company la.ys .elai?J. to a twoThese were equal to 9 79 100 p e r cent on the stock of tlle New York Com--Afths mterest ill the Manchester & North Weare RR., which 1s operat<'d pany and to 3 1s 100 per cent, on tb1it of the Metropolitan Company.
by Oonoord RR: Ten per cent clivrnends are paid. Gross earnings in
The 11,ctual n et e arnin2'8 of t h e Manhattan Com11anyfor the year were
1 ~ -81, m~.lnding ai_.nonnt rec.e1v.ed from Concord Rnllroad on acoount $1,966,830, and the deficiency to m eet fixed charges for the same time
ofJomt pusmes.s, $180,64.1; n et, $100,44.0. In 1879-80, gross, $1u4,99S.; wl\8 $490,308 , a.,o-ainst a snrplus brought over O{\t . .1, 1879, of $301,216.
llet, $100,411. (V. 32, p. 610)
.
(V. 32, p. 156,"4~1. 468 ,552. 578. 612, 647,659,685; V. 33, p, 24, 47,
.Manhattan Beach Com7Jan11.-A consolidation under the above title 74, 100, 124, 176, 255,282,304,358,385, 397,404,468,527, 560, 642,
-was made in February, 1880, of the New York & Manhattan Beach 7 _
1 7.)
Railway, th e Mauhattan Be.acb Improvement Company and the Marine
.Ma,ri,etfa & Oincinnati.-Dec. 31, 1880, owned from Cin. & Balt. JunoRailway Compnny. The stock of the n ew company, amountiug to tion, O., to Main Line June., O., 157 miles; branches and extensionsjt,6~0,• 00, embraces the stocks of all the other compan~es converted Main Line Junction to Scott's Landing, 31 miles; Marietta to Belpre, 11
mto 1t, A.nd the Manhattan Beach Co. holds those stocks in its treasury, miles; Portsmouth to Hamden, 55 miles; Blanchest er to Hillsboro, 22
exer Pt a\J(lut $100,000 of N. Y. & Manhatta n Beach Rail way pref miles: leased-Cin. & Balt. RR .• 6 miles; Balt. Short·Line, 30 miles; tot&l
atcek, as also $300,000 2d m ort. bonds of t11.e N. Y. & Manhattan Beach operated, 312 miles. The company made default, and the road waa
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Federal Reserve Bank of St. Louis
mil~.
DEC.KHBEll,
1881.]
RAILROAD STOCKS AND .BONDS.
xxxvii
8ab8Crlben will eonCer a grea& f'avor by giving Immediate no&lce oC any error cllseovered lo &hesc Table•.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Bond-s Pl'incl- - - - - - - - - - - - - - - - - - - - - ~ , Miles D a,te Size, or
.Amount
- - - - - - - - - - - - - - - - - - r p a . l , W h e n J>110
.For explanation of column headings, &c., see notes
of
of
Par Outstanding Rate per When Where P{Viable, a.nd by Stocks-Last
·
on first pa,,,CJ"C of tables.
_Ro_ad_. _B_o_n_d_s Value.
Cent. Payablt\;
hom.
Dividend.
Mf'lrietta
~
----,------
Oincin»ati-( Oontinued)-
Balt. Short Line, 1st mort., guar. by M. & C ....•.
Oiuomnati & Baltimore RR., stock . ..... ....... ... .
do
do
1st mortgage .... . .. .
Marquette B. ~ 0.-lst mort., l'd gr., M.& 0., coup.
M. H. & 0 . mortgage . ......•..•• . .••.....•. . .......
Mass. Oentral-New mort., gold, (for$3,500,000) .. .
.Memphis d: Oharleston-Stook . ................ . ..... .
1st mortgaf;.'.l, Ala. & Miss. Div. (extend. in 1880).
2dmort~ e ..... ... ... .. ... . ....... . .............. .
Coru;ol. .M:.,g-.($1,400,0001s t M. on 91 m. in T e nn.)
Jfem.',)lus ~ Little Rk.-lst M. (paid $-50,000 yearly)
General mort., land~Tant, (s. f . $10,000 after '82l
30 1869
51~ ....
50
88
116
292
181
272
292
133
1 33
Merrvphis Padueah & Northern- ..•• .. .. . ........ . • .• . .
Metrop?litcm .Elevated (N. Y . City)-Stock .. .... ... .
1st mort,,,a-a,ge, oonvertible, sinking fund . . .. ..... .
hit mortgage, convertible . ... . ...... . . ............ .
Consolidated mortgage (for $1 ~,000,00()) . . ....... .
Miclligan Air Line mortgage . ... .... •• O• ..- • • •••
d()
do
1st mort.,assumed by M. 0 ..•.
Equipment bonfls . . .... . ... . ............... .. ..... .
M. C. bonds, mol't. on Gra nd River Vall~y RR .. .
Kalarnn.zoo & South Haven, 1st mort., guar ..... .
do
do
· 2d mort., guar ....•.
Grend River Valley, 1st mort., guar. 5 .........•.
do
.do
stook, guar .. . ....... . ...... .
Detroit & Bay City 1st mortgage, endorsed...... .
Mort. on Detroit & Bay City Railroad .. .... .. ..• • .
Ja,nkson Lansing., Sag-inftw 1st mort .. .. .. ..... .
i854
1867
1877
1877
1877
1ib°i~.
1,000
1,000
25
1·,000
1,000
250 &c.
·ioo
1st mortgage . ... .... . ... . . ....... . .. .............. .
2d mortgage (guar. by Manhattan) .............. .
Mexican Oentral ( .Mexico.) - lst M. ($32,000 p. m.).
Inoome bonds, oonvertible, not rn.unulative .....
Mexican Natumat R aUway f Jfexi.co).-lst M., gold ..
Mexic.an Oriental Inleroceanic cf: :lnternat'l-Stock ..
Michigan Oentral-Stook . ... ..... ... .... . ....•......
is12
1878
1880
$1,000
50
1878
1879
1881
800
284
284
284
103
10
·s2
39
39
84
ii·s
118
116
1.000
l,OUO
1,000
1,0()0
1,000
·ioo
1857
1857
1872
1870
1870
1874
1879
1869
1870
1866
1s12-3
1881
1865
1,000
1,000
1,000
1,001)
1,000
1,000
1.000
1,000
1,000
1,000
100
1,000
1000
$750,000
1,247,450
500.000
1,760;000
600,000
2,535,000
5,312,725
1,264,000
1,000,000
1,958,000
250,000
2,600,000
m
I
7
4
7
8
J.
M.
J.
J.
&
&
&
&
l\f. &
6
6 g . J. &
D. Balt., Merch. Nat. :Sank
N.
Cincinnati.
J. Balt., Bait. & Ohio RR.
D. Boston, N. Eng. Tr. Co.
8.
do
do
J. Boston and ·New York.
190t
1880
1900
1892
1908
1900
J ..&.J. N. Y.,R~T--Wilson& Co. Jari:1;·fo15
J. & J.
do
do
Jan. 1, 1885
,T.
& J.
do
do
Jan. 1, 1915
g.
M. & N. N.Y., H.Talmadqe &Co. Yearly-'81-'83
4
Janu'ry
do
uo
.July, 1907
7
7
i
6,500,000
10,800,000
2,000,000
16,827,500
3,500,000
7,500,000
··2½)
Q.=-::r.
18,738,204
1,508,500
437,000
8,000,000
1,900,00D
200,000
556,000
500,000
640.000
7.0,000
1,000,000
491,200
424,000
4;000,000
1,024.000
1
8
8
7
R
8
8
6
8
8
8
Q.-~F.
m
D ec. 1,
Nov. 1,
Jan. 1,
June 1,
Mar. 1.
.Jan. 1;
New Yo~ic," Office.
J. & J. N.Y., C',entral Trnst Co.
6
M. & N.
do
do
6
7
3
6 g.
219
8
5
8
-~ent1:a1: Office.
Y ., Union Trust Co.
Grand
A. & 0. N.
A. & 0.
M. & N.
J. & .J,
M. & N.
A. & 0.
M. & S.
M. & N.
"M. & N.
.J. & .J.
J. & J.
M. & N.
M. & 8.
J. ,~ J.
do
do
rl'l
do
do
do
do
do
do
do
do
do
do
do
do
Ila
do
do
do
do
do
do
do
do
do
do
April 1, 1881
July. 1908
Nov . 1, 1899
""igff
Aug:·i."°i88l
Oct. 1, 1882
Oct. 1, 1882
May 1,190;1
Jan. l,18Sf0
Nov. 1, 1890
April 1, 1883
1909
Nov. l, 1889
Nov. 1. 1890
July 1; 1886
Jan., 1882
May 1, 1902-3
Mar. 1, 1931
July 1, 18~fi
plooed in the hands of Mr. John King, Jr., of the Balt. & Oh:kf, June 27 t J.e Manhattan Ra.ilway Company, at 10 per cent on the stock and in18:17, and a foreclosure suit was afterward b('lglln. '.rhe Marietta & Cin. terest on the bonds. Mr. Elnathan Sweet, Jr., an assistant of the State
Co, guaranteed the stock and bonds of t,he Baltimore Short-Line Rail- Engineer, made a report in January, 1880. He reported that the New
wa.y, and when in default on its own bonds this rental of the Baltimore Y01·k Loan & Improvement Company expended in the construction of
Short-Lhie and the rental of the Cincinnati & Baltimore Railroad were the Metropolitan Elevated Railway up to September 30, 1879, the sum
pa.id. The coupons overdue on bonds Doo. 31, 1880, were six on 1st of $10,828,790. For $6.500,000 of Manhattan stock, $8,500,000 of
mort., $735,000; seven on 2d mort., $612,000; eight on 3d mort., the first mortga,,"'e bonds and $6,500,000 of the stock of the Metropoli•
$960,000; seven on 4th mort., $1,120,000; total, $3,427,000. The capi- tan Company, representing- the whole. property and the ouly lien upon ·
tal IJtook is as follows: First preferred. $8,105,600; second preferred, it, Mr. Sweet oomes to the conclusion that the New York Loan
$4,440,100; common, $1,386,350. The plan for reorganization is given and Improvement Company paid $9,639,142. The Metropolitan earn1n CHRONICLE, V. 33, p. 642, involving assessment of 5 per cent ca.sh on in~~ to July 14, 1881, are reported in V. 33, p. 255. See Manhattan RR.
pref and 3 per cent on oom. stock. From Oct. 31, 1879, the Receiver's -(V 32, p.121, 4.68, 552. 6-!7, 685; V. 33, p. 24, 47, 74, 124, 255, 282,
report showed that the income in 14 months ending D ec. 31, 1880, was: 385,397,404, 4-12, 468,502, 560.)
Gross ef.mlings, $2.477,634; net earnings, $328,133 ; taxes and rentals
.Mexican, Central (MexicoJ.-This road is under the mana.1.rcment of Bos•
were $538,512; de1icit, $210,379. Suit for foreclosure is yet pending.
(V. 30, p. 43, 169, 567, 589; V. 31, p. 95. 229, 4841 606; V. 32, p. 16, ton capitalists. The lines proj ect Pd and in progress are (1) the main
line, from the City of Mexico to El Paso; (2) from Tampico westerly
145,231,526; V. 33, p. 255,304, 469,642.)
through San Luis to the main line; (3) from the main line to the City of
Mar<ru,ette HO'U,ghton cf: Ontonagon.-Dec. 31, 1880, owned from Mar- Guadalajara, and thence to Paeifl.c Coast at San Blas. Also from Guayquette, Mich., to L'Anse, 63 miles; branches, 25 miles; total operated, 88 mn.s northerly (Sonora RR.) to U. 8. boundary. The company has a
miles. Thls wa.~ a consolidation Aug. 22. 1872, of the Marq. & Ontonagon suusidy from the Mexican Government of $15,200 l)er mile on most of
Railway and the Houghton & Ontonagon Railway. The company made the lines, payable in certificates with which 6 per cent of customs duties
default on its bonds, and issued the present 6 per cent bonds in exchange have to be paid. The first mortgage bonds were issued thus: $5,000
for prior 8 per cent bonds. The stock is $2,306,600 common and with $1,000 income bond and 40 shares of stock for $4,500 cash. Thoi,.
$2,259,026 _preferred. The lands amounted to 425,000 acres, mostly tim• Nickerson, PresM.ent, Boston. (V. 31, p. 672 ; V. 32, p. 100, 396; V.
ber and minera,l lands, and in May, 1 881, 400,000 acres were sold for 33, p. 193, 469, 716.)
$2,500,000, and about $1,800,000 6 per cent bonds callcfl in. In May,
Mexican Nat-ional Railway (Mexico).-This is the road building from
18!:tl, a circular was issued offering to fltockholders the privilege of
subscribing to the stock of a land company formed to take all the Laredo to City of Menico, under -the :Palmer-Sullivan concession, from
Mexico.
A statement at some length as to the company's affairs was in
unsold lands. · see V. 33, p. 47. Operations and earnings have been:
the CHRONICLE, v. 33, p. 717. Bonds for $1,000 with stock for $1,000
Passenger
Frei.a-ht (ton)
Gross
Net
were issqed for $1,050 cash. The capital is $5,000,000, of which
Yea.rs. Miles.
Milea,$.e .
Mil'ea,ge .
Earnings.
Earnin1Is. $4,000,000 is 7 per cent preferred. (V. 31, p. 672; V. 32, p. 16., 685;
1877·. .... 88
1,170, ,48
15,478,293
675,732
34i,063 v. 33, p. 193,716, 717.)
1878..... 88
1,030,290
15,816,4 66
566,453
299,182
Mea:ican Oriental Int[rocean-ic cf: Infe1·national.-This company is
1879 ..... 88
1,130,678
15,124,336
532,671
277,157
1880..... 88
1,615,903
20,804,176
771,538
405,719 forrn t"d to build fr,,m Laredo to City of Mexico, in connection with the
Gould
system or roads terminating at Laredo. 'l'he Mexican Govern-(V. 32, p. 552,578; v. 33, p. 47, 154.) ·
ment grants a subsidy which it is s::.ill will n e t $12,000 p er mile. See
Massachitsetts Central.-Bost.on, Ma.~s., to West Deerfield, Mass., 110 circular of Mr. Gould, as President of Mo. Pa.oific, in V. 33, p. 687, 716.
· mHes; branches, 6 miles; total as projected, 116 miles. Leased March,
Michigan Oentral.-Dec. 31, 1880, owned from D etroit. Mich., to Ken1880, to Boston & Lowell for 25 years, at a rental of 25 per cent of
~oss earn.ing:s, ~nd to be ·oo1'?pleted as spe~itied. Stock, $3,500,000. sington, Ill., 270 miles ; used jointly with Ills. Central, Kensington to
Chicago,
14 miles; leased lines-Michigan Air Line, 104 miles; J ackson
(V. 30, p. 2:t2, .-48, 322, 650 , V. 31, p. 454, V. 33, p. 469.)
Lansing & Saginaw, 236 miles; Grand River Valley, 84 miles; Ka,J.nMmnp-his tE Oharlcston.-June 30, 1881. owned from Memphis to mazoo & South Haven, 40 miles; Joliet & Northern Indi::ma, 45 milr!e:
Stevenson, Ala., 272 miles ; branches-to Somerville 14 miles, to Niles & New Lisbon, 11 miles; total operated. 804 miles. Thfl lea, ed
Florence 5 miles, to Mississippi River 1 mile; total operated, 292 lines have been lar1Iely wsistt>d by the Michigan Central Company, and
miles. This road was leased June 2, 1877, to the East Tennessee Vir- prior to 1872 the Michig-an Central wo.s a regular dividend-paying
itinia & Georgia Railroad for twenty years from July 1, 1877. The companv. The VandE-rbilt party took possession in June, 1878.
fessees were to operate the road on their own account and apply the net
For 1881 (December partly estimated,, the statement of income was
earnings to interest and pay the balance, if any, to the lessors. The a-. follows:
181H.
1880.
lease wa.s terminable on 6 months' notice and was modified in December, Gross earnings . .... . ....................... . $8,936,000
$9,085,749
1879, the M. & C. Company giving up their right to terminate the lease, Operating cxfenses and taxes . .......... . .. 6,752,000
5,738,751
and the lessees agreeing to buy the "COupons for three years folJowing in Percentage o eamings .•••..... , . .. . . • . . . . .
( 75·56
(63 ·16)
case the M. & C. earnings should be insufficient to pay them. Of the new
consolidated mort,..,o-age, $1,400,000 is secured by the old Tennessee State
Net earnings ............................. $2, 18t,OOO
$3,346,998
lie11. for $1,736,900. assigned to a trustee, and a, sufficient balance of this Interest and rentals......................... 1,693,000
1,586,410
mortgage is reserved to talrn up first and second mortgages. The first
mortgage bonds due May, 1880, were bought up, but not paid otf.
$1,760,5 8
Balance. ... ...... ...... . . . . . . . . . . . . . . . . . . $491.000
Earnings for five years past were as follows:
(8) 1,4.99/ 56
Dividends ................... . .. ... ..... (2½) 468,455
Yee.rs.
Miles. Gross Earn'gs. Net Earn•ir~.
1876-7 ............ . ............ . .... 292
$961,350
$317,523
Surplus...................................
$22,545
$261,532
1877-8.............................. 292
989,857
307,445
In 1880 construction account for th(') entire system inc~eased $271,109,
1878-9... .. . . .. . . .. . . .. . ... .. .. . . . . . 292
862,513
231,038 of which amount the cost of lands and new 2d track, viz .. $95,184, was
1879-80.... .... ........ . . . . . . . . . . . . 292
1,003,271
262,924 pa,icl with funds derived fr(?m ~raffle; uut the cost of 227 ~e:w frei~ht
1680-1. .......... . . . .............. .. 292
1,3-12,082
511,345 cars, viz., $17fl,925 was paid with proceeds of sundry securities Whl{lh
-(V. 31, p. 535, 55'7; V. 32, p. 526,552; V. 33, p. 553, 560.J
the company held.
OPERATIONS AND FISCAL RESULTS.
Mtmphis cf: Littk .Roclc.-Dec. 31, 1879, owned from Little Rock,
Operations1877.
1878 .
1879.
1880.
Ark., to Hopefield, Ark.• 135 miles. Default was mad.e on the coupons
1,373,530 1,445,655
l,6~9,810
November, 1872, and the property sold in forec-losure. The new com• Passengers can·ied . .. 1,400,847
pany also defaulted, ancl the road wa.s sold and reorganized April 28, Passenger mileage ... . 79,805,454 79,684,072 93,232,430 115,523,789
2·36 cfs.
2·41 cts.
2·21 cts.
2·13 cts.
1877. The stock is $1,500,000. rn 1870 gross earnings were $428,620; Rate<lS paas'ger,· mile
2,786,646
3,513,819
3,797,137
net earnin_$J, $138,367. The company has a land grant from Congress Freight (tons) moved. 2,937,570
of 1,000,0uu acres, of which about 150.000 ncres have been certified t-b Freight (tons ) milcage446,708,939 548,053,707 721,019,413 735,611,995
0·848 cts.
O·ti92 cts
0·842 cts.
it. The general mortga,!re carries 8 per cent interest after July, 1882. In Av. rate~ ton <jj} mile 0·982 cts.
Ea1·nings$
$
$
3
April, 1880, control of this company was purchased hy tile St. Louis
1,918,609
2,062,26:':
2,461,771
& Iron Mountain. See V. 30, p. 466. R. K. Dow is President, Little P assenger.... . . ... . .. 1,881,581
Freight . . . . . . . . . . . . . . . 4,387,839
4,646,248
4,986,988
6,195,971
Rook, .AJ.·k. (V. 29, p. 657; V. 30, p. 192, 466.)
292,015
307,237
297,541
293,633
Memphis Paducah & N orthern.-·This was the Padncah & Memphis road Mail, express, &c.. ...
ti,'372,094
7,346,794
8,951,375
from Paduooh to Trimble, Tonn., and from Memphis to Covington,-112 Total gross earnings. u,5tH,435
Operat-ing Expenses$ .
$
$
$
miles in all. 'Fhe road was foreclosed in April, 1877, and reor~anized
778,!'148
854,554
904,613
1,226,536
under this name, but no financial statement 11as been made. I'it Dec., Maint. of way. &c....
627,624
64~,718
623,nO
670.006
1880, Mr. Smithers was appointed Receiver, and thero~d was sold, Aug., .M:aint. of equipment.
2,296,39-!
2,455,164
2,8~4,901
1881, and purchased in interest of Eliz. Lex. & Big Sandy bt C. P. Huut Transport'n expenses 2,357,529
Taxes . ... . ............
302,742
204,4&7
201,682
197,25 5
ington for $2,300,000. (V. 32, p. 636, 672; V. 33, p. 154, 176.)
4.41,639
363.075
514,403
8i0,053
Metropolitan Elevated.-Sept. 30, 1881, owned from Rector Street to Miscellaneous........
4,367,23~
4,699,592
5,733,7:., i
58th St., 4 ½a miles, aud from 6th Av. and 53d St. to 155th St., 5 34 miles ; Total.................. 4,508,482
2,504,85H
2,6-17 ,202
3,212,W"4
total operated, 1014 miles. This was formerly known as the Gilbert Ele- Net earnings..... . . .. 2,052,953
68·71
63·55
63·97
64.·11
vated Read., ana. is now leased, t<>gether with the New York Elevated, to P.ct.op.cx.p.toearn'gs
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Federal Reserve Bank of St. Louis
RAILROAD STOCKS AND BONDS.
.xxxviii
(VoL.
xx:xur.
Subscribers will c onfer a great Ca v o r b y giving lm1ne dlate notice ot any error dl.seevered In t b.ese T a b l es.
·
·
I
INTEREST OR DIVH>ENDS.
1\flles Date Size, or . A
t
- - --- - - - - -- ------1 Bonds-Prin-cipal,When due.
of
o!
Par Out~c~ng Rate
Wht,n Where Payable, and by Swcks-Laar,
__ Road: Bon~s Value. _ _: ___ . ~ Payable
Whom.
Dividend.
DESCRIPTION.
f.'"-'
For expla,na.tioc of column headings, &c., see notes
on first page of tables.
Michigan Otntral-(OontinuedJJack. Lan. & Bag., 1st mort~age .... .. . .. : ... .. . ..
do
1 st mort. (N. of Win.), conv .. ..
do Cons. m. on whole line (300m.) ....... . 236
do
do
do
. ..... .. 298
13
Middletown Un.ion'IJille & Waler Gap-1 st mortgage.
Milw . Lalce Shore& 1Vest--Northcrn Div., 1st m or t . 100
Consol. mort., gold (for $ 5 ,000,000) . . . . . . . . ...... . 273
Income bonds (not cumulative) .. . . . ... . .. . .. . .. . .
Milwanlcee & N orthen1,-l st mortgage . ... . ........ . . 1 26
Mine Bill cf: Scliuyllcill Haven-Stocir ............... . . 140
Minneapoli s & St. L.-lst M., Min. to Merrin.m June.
27
9::l
l st mortgiige, Merriam Junction to A lbcrt Lea . .
1st mortg., Minneapolis to White B. L a,ke, guar . .
15
1st mortgage, g olcl. coup. (Al. Lea to Fort Dodge) 102
50
• Mortgage OD Southwest ern exten sion ........... .
21
:Moi'tgage OD Lake Superior Extension .... . ..... .
2d mort. bon fls, income, 5 & 10 years ........ . ... . 172
1st mortgage, g old, Pacific Extension ........... . 100
Mississippi & .'.l'ennessee-lst mortg a~e, series "A". 100
1st mort,gage, series "B," (a second lieu) ........ . 100
Missouri Kansas & Texas-Stock .................... . 786
1st m., gold, sink. fund, on road and land (U .P .S.Br) 182
1st mortgage, gold (Tebo. & Neosho) . .... _..... . . . 100
Consolidated mortgage, gold, on road aud land .. . 786
2d mortgage. income (interest cumulati vc) ...... . 786
Booneville BridQ~ uonds, gold, guar .... . ........ . .
General eonsol. .M.., gold (for $45,000,0vO) ....... . 880
Hannibal & Central Missolll'i, 1st mortgage ...... .
70
~lo
do
2d mortgage ..... . .
70
Internat. & Gt. North'n, 1st mort., gold .......... . 665
do
2d mort. income. not cumulative . 5m
do
2d mortgage .... ~ ............••..... (FJ
Missmtri Pacific-Stock ..... _...... . ................ . 7v8
1st m ortgage, gold .. . ............................. . ~83
Net eaTnings....... . ..... . ...
Interest and dividends......
Total income ... . ........ .
Dishursements-
Rentals pai-d ........ .. ...... .
Interest ou debt .. •. .........
Dividends ................... .
MiscellaneoUB .... . ... . .... ..
Balance, surplus . _....•.....
1878.
$2,504,856
119,664
----$2,624,520
$
J. & ;r, N. Y., U nion Trust Co. Jnly 1. 1 885
:\I. & N.
do
do
Mayl, 1890
i\I. & S.
do
do
Se pt. 1, 1891
6
M. & S .
do
do
Sept. 1, 1891
7 g.
. . .. Middleto'u,N Y.,l s t N.n
1886
7
M. & S . N. Y .. S . S. San d s & Co. Mnr. 1, 1 9 09
6
:ti. & N.
N ew York.
M :\y 1, 1021
6
Ma y l, 1911
4, 5 ,6 J. ·(.t.i· n. N.Y.,MCi~Cii.EX'"c~ll .~.Bk. Juuo 1, 1910
3¼ J. & J. Phila,.M.H . & S. H. R. Co. July 15, 188 l
7 g . J. & J. N.Y., Continen tal N ..Bk. J an. 1, 1·907
do .
do
7 g . J. & D.
F eb. 1, 1027
7 g. 1\1. & N.
do
do
Jan. 1, 1907
7 g. J. & D .
do
do
Jun o 1, 1900
7
J. & D.
N ew York.
D ec. 1, 1910
7
J . & D.
do
June 1, 1 910
7
.J. & J.
. .. .... . . .
.Ja n .1. '86-'91
6 g . A . & 0.
N e w Y ork
April 1, 1921
8
A. & 0. N. Y., Imp. & Tra d. Bk. April 1, 1902
8
J. & J.
do
do
Ju1y 1, 1902
8
8
8
··,rg.
J. "j;i,' -J. N. Y., union· Ti·nst Co.
& D.
do
do
7 g.
T
7 g. F.
6
A.
7 g. M.
6 g . .J.
7 g. M.
7 g. M.
6 g. M.
8
6
119
6 g.
M.& S.
Q.-.J.
New York, Office.
l<'. & A. N.Y., Mercantile Tr. CG.
1
Years.
Miles.
1880.
1878-9. . . . . . . . . . . . . . . .. . .. . . . . 100
$3,2 t2,624 1879-80... . . . . . . . . . . . . . . . . . . . 100
134,374 -(V. 28, p. 95 ; V. 31, p, 2 0 5, 5 8'7.)
$2,715,836
$3,34fi,9P,i
$
$
184,310
184,310
184,810
1,385,120
1,431,640
1,403,472
(4) 749,528 (512)1,030,601 (8) 1,4U9,056
97,81,w
70,000
208 ,512
161,202
"97:453
3 ,346,998
2,624,520
2,715,836
Total ........ . .......... .
The Jackson Lansing & Saginaw debt is a.ssumed by Michigan Centr:al,
which also pays $70,000 per year on the stock of $2,000,000, one-third
of which it owns; the proceeds of J. L. & S. lands go to pay bonds,
and in 1880 sales ameunted to $681,341, leaving 408,881 acre.s unsold,
valued at $3,066,607. Interest wa.s passed on the Detroit and Bay City
bonds, not guarantee.d, November, 1875, and sale was ma.de Feb. 1~,
1880, for $3,625,750. In March, 1881, the Michigan Central bonds for
$4.000,000, secured by mortgage on that road, were issued.-(V. 30, p .
4 9 1; v . 31. p. 20, 606,672; v. 32, p . 205, 368, 43'7, 497, 511, 67fl, 680;
v. 33, p. 225, 358, 709.)
Middletown Unionville cf; Water Gap.-Oct. 1, 1879, owned from Middletown, N. Y ., to Unionville, N. J . State Line , 13 miles. Road opened
.June 10, 1868. Is leased to the New Jersey Midland Railroaci. at n, rental
of 7 per cent on stock ($123,850) and inter est on bonds. Paid a. dividend
of 212 per cent Feb., 1881. G. Burt, President, Warwick, N. Y.
Milwatikee Lake Shore cf: Western.-Dec. 31, 1880, owned from
Milwaukee, Wis., to Wausau, Wis., 210 miles; branches-Hortonville to
Oshkosh, 23 miles; Manitowoc to Two Rivers, 6 miles, and Eland Juuc•
tion to Birnamwood, 5 miles ; total .operated, 244 nulcs. The company
defaulted on the interest of its bonds in Dec., 1873. and on Dec. 10,
1875, the property was sold in foreclosure for $2,509,788 and purchased by bondholders. The reorganized company has $5,000,000 pre•
ferred stock and $1,000,000 common. A consolidated mortgage for
$5,000,000 is issued to take up all other debts, and the balanoe for
extensions &c. Pref. stock has a prior right to 7 per ceut from n et
earnings. In 1880 gross earnings were $427,751; n et earnings. $154.487. :For y ear ending June 30, 18 81, n et income was $139,704. (V.
29, p. 226; v. 30, p. 84. 144,464; v. 3 2, p. 23 2, 288, 569, 578, 636,
657; v. 33, p . 580.)
Milwa1tk,ee cf: Nor~hern.-Ja~. 1, 1881, owned frem Green Bay, Wis.,
to Schwartz.burg, Wis., 104 1mles ; branches-Menasha and Appleton to
Hillbert, Wis., 22 miles; total operated, 126 miles. The new bonds
carry 4 per cent for one y ear, 5 11er cent for one year and 6 thereafter
June 5, 1880.foreclosure was made and road Rold for $1,500,000. The
stock is $2.155,000, same as bonds. It is leased to Wisconsin Cientral
at a rental of 37¼ per cent on gross earnings, t erminable by either
party on 6 months' notice . Gross earning", 1879, $383,251; n et. $136.
033. Gross in 1880, $470,861; n et, $175,053. (V. 31, p. 588; v. 32,
335, 437.;
p.
Jan:;i's99
Jw1e, 1903
& A. N.Y .• Mercantile Tr. Co.
1904-1906
& 0.
N. Y., Co.'a Office.
April 1, 1911
& N.
do
do
May l , 1906
& D.
do
do
Dee. 1. 1020
& N.
do
do
May 1, 1890
& N.
do
do
May 1, 1892
& N. N Y ., National City B'k Nov. 1, 1919
M. & S. N Y., 26 Exch'ge Place. Sept. 1, 1909
1879.
$2,647,202
68,634
INCOME ACCOUNT.
Receipts-
1867 $1,000
$68,000
1,000
t14 ,000
1870
1,000
1 9 4.3,000
1871
1,000
1,100,000
188 0
4 0 0 ,000
18 66
1,000
572,000
1 879
1,000
3,000 ,000
1881
1,000
:'>00,000
18~1
1,000
2 .1 55,000
18 80
50
4,022,5 00
1,000
455,00 0
1877
9 50,000
1877 500 & c.
1,000
28 0,000
1877
1,000
1,0 15,000
18 79
1,000
600,000
1 880
1,000
246,000
1880
1,000
500.000
1881
1,000
1,500,0 00
1881
1,000
976,000
1877
1,000
1,001,000
1877
100 4 6,405,000
1,000
2,296,000
1868
1,000
349,000
1870
1871-3 1,000 14,772.000
7,571,553
1876 500 &c.
1,000
956,000
1873
1,000
6,100,000
1880
1,000
768,000
1870
1,000
32,000
1872
1,00 0
7,434,00 0
1879
(7)
1879 500 &c.
G,53-1,000
1881
'ioo 30,000 ,000
1,000
7,000,000
isii8
GrosR Ea,rn'ga.
$373,687
525,489
Jan.:·
·s,--iss2
Aug., 1888
Nat Earn'gs .
$169,955
269,379
Missouri Kansas & Texas.-Dec. 31, 1880, ownoo from Hannibal, Mo.,
t o Denison, Texas. 576 miles ; branches-Parsons, Kan ., to Jnnction City,
Kan., 157 miles;_ Holden (Mo. Pao. R_R. ) to Pa?la, Kan., 54 mi_les; Denison, Tex., to Gamesv1Ue, Tex., 4 0 miles ; Demson to Greenville, Tex.,
52 miles; total, 879 miles. I nternational & Great Northern.- D f'c. 31,
18SO, from Longview, Texas, to Houston, Texas, 236 miles, and Pal estine, Texas, t o Au.stin City, Texas, 18 l miles; Austin to San An t onio,
80 miles; branches-Troupe, Texas, t o Mineola, '.rexaa, t4 miles ; P helps,
Texas, to Huntsville, Texas, 8 m iles ; Houston, Texas, to Columbia,
Texas. 50 miles; Hend erson to O verton, Texas, 16 miles; leased, 10
miles, Round Rock to Geor getown : total operated, 625 miles.
The Missouri Kansas & •.rexas Company was organized April, 1870,
and embraces by consolidation the Union Pacific-Southern Branch, the
rebo & Neosho and other lllinor companies. In 1874 the Hannit>al &;
Central Missolll'i was. purchased. The company made default on t heir
consolidated bonds in D ec., 1873, aud was ope.rated by a Receiver from
Dec. 30, 1874, to July 1, 1876. when the Union Trust Company of New
York took possession. The election of Mr. Gould as Presidcni took
place in January, 1880. Ou Dec. 1, 1880 , the company took possession
of its property, pa.yin~ the overdue coupons. The oompany had a land
grant from the Unitea States estimated at 817,000 acres t1,nd from the
State of Kansas 125,000 acres. There is also a grant in the Indian
Territory of 3,622,400 acres subject to the extinguislnnent of the Indian
title. The Booneville Bridge Co. is a separate organization, and earns
interest and proportion for sinkinl? fund. Nov. 17, 1880, stockholders
voted to increase stock by $25,000,000, to malrn extensions to Rio
Grande River and City of Mexico and Fort Smith, Arlr. The general
consolidated mortgage is n.t $20,000 per mile on all road built and to
be built; of which $18,217,000 is reserved to take up first consol. and
prior bonds; $10,000,000 reserved to take up income bonds and inter
est, with bonds nude r this m ortg-age which may ca.rTy 1088 than 6 per
cent inter~ t. At a meeting of stockholders May 18, 1881, a lease to
the Mo. Pacific for 9 9 years was ratified on rerms following : That the
lessee operate the roa d and pay the obligatory mortgage interes$. pay
ing- over the balance t.:> the Misaom·i Kansas & Texas Company. If there
is a deficit in income the less ee may advance money to pay interest, or
in case of failure to make such advance the Missouri Kansas & Texas
can resume possession of its road. (Sec V. 32, p. 613.)
Th(} Inte rnational & Great Northern Railroa d was merged with this •
company iu May, 18 81, ·oy an ex change of two shares of Missoul'i
Kansa s & Texas for one of International & Great Northern
The International & Great Northern was o consolidation of the
Houston & Great Northern Railroad aud the International RR. of Texas
ou Sept. 22, 1873. Tho company made default on its bonds, and a Re
ceiver was appointed in April, 1878. Bales in foreclosure were made
July 31 and Oct. 14, 1879. In the reorganization the lands of the com
pany, amountino- to about 5,000,000 acres, were conveyed to tbe
seconcl mortgage bondllolders in full settlement for their lien on the road
whicll was thereby discharged. The present income bonds were issued
for one-half of old mortgages and overdue interest. Interest at 4 per
cent for 1879 was. paid on these and for 1880 5 per cent--219 per cent
March 1 and 219 per cent Sept. 1 , 1881. The option was g iven till June 1
1 881, to excbo.nge these for the new 6 per cent second mortgage bond
Prices of Missouri Kansas & Texas stock have been:
Mine Hill cl: Schuylk'ill Haven.-Nov. 30, 1879, owned from Sehuvlkill
Haven. Pa., to Locust Gap, Pa., with branches, 66¼ miles . Road ·was
leased May 12, 1864, to the Philadelphia re Reading Raih·oad Co. for 999
1860.
1881. I
1880.
1881.
years at a rental of 8 per cent on the capital stoek. Tllere is no debt
48 - 4019 July..... 3938- 3319 5158- 40 14
and 7 pe17 cant dividends are paid. Operations not separately reported! J an...... 49¼- 32
includ ed m lessee's returns.
' Feb...... 48 14· 42
50 1 s· 393s August .. 39!4- 35
45:ta- 3 7
Marcll... 4619- 4-l 7s
4 7 38· 4219 Sept'ber. 3719- 307a 44 - 3918
· Minnea:polis cf: s_t. Loiiis.-Dec. 31, 1880, owned from Minneapolis to April.. . . 4538- ~318 4734- 43
Octoher.. 39¾c- 35
42¼· 36 7a
Albert Lea, 108 miles; Albert Lea. to Fort Dodge, 102 miles• Wyomio
May .. . .. 35~- 2818
54 - -!419 Nov'ber. 41½1- 36¾
4419 · 38½1
to Taylor's Falls (12 owned), 21 miles; leased, Mlilneapolis to White June..... 38¾- 2818
!'i33s- 49
Deo'ber.. 4719· 3634 .......... .
Bear Lake, 15 !Diles; White Bear Lake to Dt.Iluth, 143 miles; total
operated, 389 nules. In J une, 1881, a. consolidation wn,s arranged with The M. K . & T. bonds and U . P. S. Br. bond.'! reoeived 5 p er cent only till
$2,000,000 of stock . (See V . 32, p. 613. ) Gross earnincrs for year 1882. Earning-s for fl vo yeai·d pa.st were as follows:
1878·9, were $471 ,344; net earnings, $186,640 · 1 879·80 gross Yea.rs.
Miles.
Gross Earn'gs.
Net EarniU"'S.
$819 ,558 ; net, $256,650. The bonds • of the $1,100',ooo mort'. (1877)', 1876....... .. . . .. . . . . . .. . . . . .. 786
$3,217,278
$1,215,999
numbered from 1.101 to 1,40 0, for $500 eaeh ($150 000 in all) are 1877 ........ . ................. 78a
3,197,321
952,211
guaran teed by the B_lll'lington Cedar Rapids & Northe~ R ailroarl. 'The 1878.. .. .• •.. . ... . . . . . . .. . . . . . 786
2,981,681
428,833
b onds on the 15 rmles were issued by the Minneapolis & Duluth Rail· 1879 ...... -·-. ... . . .. . . . . . .. .. 786
3,344,291
1,271,541
road before it was ~bsorbed by this company. Preferred stock of 1880 .... . ... . ........ . ........ 786
4,161 ,671
1,545,625
$8,000 ,000 is authorized al!d $4,000,000 iss ued · common Rtock
$ 12,00 0 ,000 au~l1 01ized and $6,000,000 issued; par of both $100 pe{· - (V. 31, p. 382. 405, 429, 484, 510, 535, 588, 606; V . ::32. p. 101, 18:t,
share. T~e proJeoted f?outhwestern ex ~e nsio~1 runs from .Fort Doclge , 205,335. 421, 469, 52G, 552, 613,652, 659,685,686; V. 33, p. 47, 74,
Ia., towards Kansas City, Mo., 325 1mles, with a branch to f'ouncil 201, 3;'}8, 404,412,470, 589, 716. )
Bluffs, 14.0 miles. W. D. Wa,shburn, President. (V . 30, p. 218, 432 ; v.
Missotiri P~.ci.fie.-•This waR a consolidation in A ug-ust. 1880, embracing
31, p. 328; v. 32, p. 121, 500, 569, 612; v. 33, p. 201,470, 528.)
589 mileR, made up of the Missouri Pacific, St. Lo1iis & Lex:ington. Ka11sas
City & Ef!,steru and Lexin~ton & Southern in Missouri; and the St.
¥ississippi cf: T1.:nnessee.-Scptember 30, 1830, owned from Grenada,
Miss., to M~mph1s, Tenu., ~00 miles. Capital stoelr, $825,4-00. Debt Loui.s Kansas & Arizona and KansA.S City Leavenworth & Atchison in
tl1e
State of Kansas, ·708 miles in all. In May, 1881, the st. Louis Iron
was consolidated as above rn 1877. Earuiugs for four years past were: Mountain
& Southern was taken in, as follows : From St. Louis to
Ye~rs.
Miles.
Gross Earn'gs.
Net Earn'g-s. Texarkana, Texas Line, 490 miles; branoh lines, Mineral Point, Mo.,
18 ,6-·7. , . ... - . . . . .. . . . . . . . . . .. 100
$433,440
$212,768
1
0
0
877-8.. .. .. . ...... . .... . ..... 100
378,780
176,935
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(7
i?oJ~~ ~\llfi~tio~ t~~t~J.f~~Iii\: ~0.~1cah~. !f:1:JJ.~; :to:1, ~5 ~fe~'.
RAILROAD STOOKS AND BONDS.
D.ECEMBER, 1891.
Snbscrlben will eonJ"er a great favol" by giving IIDDledla-&e nodce of' any error discovered lo these
Tabiea: -·
DESCR IPTION .
INTEREST OR DIVIDENDS.
Bonds- Prin ci•
- - - - - - - - - - - - - - - - -- ---1Miles Dat.e Size, or Amann, - - - - = - - - - r - - - - -- - - - -,pal,When Due.
For explanation of oolumn headings, &o., eee notes- of
of
Par Out8tandino- Rate per When . Where Payable, and by Stocks- L ast
0
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
D ividend.
- - - --- ---·
Miascniri Pacific-( Contf.nued)2d mortgao-e (sinking fund $50,000 per annum) ..
Real estate (depot) bonds. -··· .................. .
Debt to St. Louis CoWlty (no bonds) .............. .
3d 1nort,.,<73.ge .. . .. . . ....... . ............. . .......... .
Cot.sol. M ., gold, for $30,000,000 (oonp. or reg.) ..
Ca1·oudelet Branch, 1st mortgage ........ . ....... .
Missouri River RR. , 1st mort .................... .
IA>avenworth Atoh. & N. W., 1st mort., guar .... .
St. LoniR <-~ Lexington, 1st mort ... ..... . ~ ......... .
Kansas City & East&n, 1st mort ....... . . ........ .
St. Lon.is Kansas & Arizona, 1st mort . . ... . ... ... .
Lexington & Southern, lat mort .. ........... ..... .
St. L. Iron Mt. & Bo., 1st mori;., coupon . ..... . .. . .
do
2d mor., gold, coup., may be registered
do
Ark. Brauch, lat ::nort., gold, land gr··
do
Cairo Ark. & Tex., 1st, gold, cp. or 1·eg.
do
C. & Fulton, 1st, gol.!., on road and hmcl
do
1st pref. income bo11ds,reg.(omonfative)
do
2d pref. income bonds.reg.(cumulatlveJ •
do
General consol. rr ort. (for $3.!,036,000)
Mobile & Alabama Grand Trunlc-St.ook . ........... .
1st mo~a.ge bonds ($20,000 p. m.), coupon ... .. .
Mobile ti: Gi1·ard-2d mort., end. by Cent. Ga. RR ..
3cl 1nortg. bonds ......................... . ....... . . .
Mobile ti: .Montg.-Stook .............................. .
Mobile d': Ohio-Stock ................................ .
New mortgage, principle p ayable in gold ..... . .. .
1st pref. ino. ands. f. debentures, not onmulati ve
2d
do
do
do
3d
do
do
do
4th
do
do
do
Cairo extension (Ky. & Tenn. RR.) ............... .
M-onlpe-lier ce lVells Ritier-Stock..... . . . . . . ......•..
2.33
1871
1872
- - - - - - - · - --- - --- -,---------- -----$1.000
500 &c.
299 is76
1.000
1,000
1,000
708 1880
15¼ 1873
21
1870
43
1874
70
210
is67
686
1872
1870
1872
1870
1879
187 9
1881
...
1874
1860
1877
310
99
7l
304
56
56
85
186
506
•172
22
40
1,000
1,000
1,000
1 ,000
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
100
100
1,000
i879
1879
l b7 9
1879
1879
1880
.,.l'he Paoifio Railroad of ·Mo. was sold in foreclosure of the 3d mo~age
Sept. 6, 1876, for the nominal price of $3,000,000, to C. K. Garnson
and others, and this company was organized with o ;;rtook of $800,000.
The valiuity of the sale has been contested, but the U. 8. Supreme Court
decided in favor of the present company. Iu 1879 the gross earnings
were report<.>.d at $3,922,893: net earnings, $1,783,734.
. The following is a statement of earnings, expenses. &c., in year 1830:
Earnings from passengers ..................................... $1,325,044
Ea.rniDo"'B from freight . ............................. . ........... 4,0 14,128
Earnings from other sources...................................
368,599
Total. ....................................................... $5,707,773
. perating expenses and taxes.... .... . .. .......... ... . .... .... 3,! 25,326
Net earnings . . . ......... ..... .................... ....... .... $2,55~,447
m~~1;ri~::ts·.·.·.·.·.·.·.·.-.·.·.·.~~-.-.-.·.-.-.-.·.-.-.-.-:::.·:::.-:::.-::::::: $ 1·r8i:~i~
• In Oot., 1880, quarte1:ly dividends a,t the rate of 11.9 p. o. were begun. The
consolidated mort1pge above 'ts for $30,0IJO,OOO-trustees John F. Dillon
and Edward D. Aaa,ms. The bonds are issued to retire the outstanding
bonds of the consolidated company, as fltbove given, n.mounting to
$20,184,000. The remaining $9,816,000 are to be Issued as may be
required for finishing, constructing, purchase, acquisition, &o.
The St. Louis Irori Mountain & Southern stock was merged in the
Mo. Paoitlo in May, 1881, on the basis of three shares of Mo. Pacific for
fopr &hares of Iron Mountain. In Angnst, 1881, a oiroular was issued
giving holders (Au~ 8) of ten aha-res Mo. l'ac. stock the right t-0 tatre
one sh.are in the .Hudson River Contraotin~ Co., to build 2fi0 miles of
new road from Knobel, on northern line of Ark. to La. 8tn.te line, in
Ashley Co., under the Cairo & Fulton charter.
The St. Louis & Iron Mountain road defaulted Oll its interest in 1875
and finn.J.ly made a compromise with its bondholders, issuing 1;he first
pref. income bonds due in 1 91-95-97 and 1914, the overdue coupons on
mort~age bonds, tlie coupons not being canceled but · held in trust as
semu1ty. The 2d pref. income bonds. due 1914, were issued to holders
of consolidated morlgage bonds, and those bonds deposited a..~ security.
Interest to Dec. 31, 1879, has been paid on the income bonds, but
nothing for 1880. The company offers to exchange them for the new 5
per cent mortgage bonds, with which all othe1· bonds are eventually to
be retired; interest on both classes of t'-·.e income bonds is cumulative.
The Mercantile Trust Co. of N. Y. is trustee of the general oonsol. mortgage. The St. L. I. M. & Bo. annual report for 1880 was published in V.
32, p. 285. Comparative earnings, &c., of St. I,. I . M. & 8. for four years
ai·e a.a follows :
EARNINGS.
Tota.I gross earn'gs ..
1877.
$
4,500,422
1878.
4,51f.321
1879.
$
5,292,611
1880.
$
6,265,597
$
2,300,555
$
2,222,194
40,438
2,190,371
$
2,083,899
71,037
INCOMR ACCOUNT.'
Ileceipts-
·$
2,131,902
Net earning-a .........
Disbu1·seme'lttsInterest on bonds ....
Other interest ........
Diso't on con. m. bds.
Miscellaneous ........
1,740,207
390,199
667.800
32,825
Bala.nee, deficit ..
699,129
$
$
1,945,956
$
1,814,600
167,027
84,660
37:)~257
163,823
120,331
341,334
128,388
. GENERAL BALA...''WE AT CLOSE OF EACH FISCAL YEAR •
$
$
$
.A.s.scte-
$
$
Road and equipm't.. 44,960,735 45,237,716 45,691,908 47,321,485
Real estate...........
753,582
6 56,977
598,313
111,675
Land1-1 .......... _. __ ...
3,742,908
3,648,008
3,556.473 3,407,968
Bills & aoo'ts receiv'le
·
320,564
506,630
49"3,408
Materials, fuel, &c. . .
241,383
198,311
·242,313
365,822
CaRh on band........
208.458
432,363
386,89'.!
244 ,184
Income aooount......
1,116,081
1,236,415
1,577.753. 1,706,142
Miscellaneous items.
5,000
604,827
656,677 .. 671,472
T"tnl nssets .... . . 51,028,147 52,335,184 53,219,959 54,322,156
I/iabilities-$
$
$
$
Stook ... ............. . 21,471,151 21,469,101 21,458,961 21,459,321
Fun<ied debt .. . ...... . 25,909,000 25,909,000 30,068.657 30,078.810
108,210
18,202
Certts. & unfund. oou 2,440,125 2,438.165
4.30,415
539,029
489,019 1,727,205
Bills payable, &o . .. ..
777,456
1,979,889
1,091>,ll l 1,038, 117
Inte1·est aoc.rued, &c.
Tota.I liabilities... 51.028,147 52,335,184 53,2U>,959 54,322,156
"This includes $585,108 of Arkansas land trust notes.
- (V. 31, p. 328, 382, 454, 583,606; V. 32. p. 183, 368, -Mm, 488, 526,
553, 569, 613, 659; V. 33, p, 24, 75, 100, 125, 155, 17G, ~75, 304, 386,
442, 50 , 560, 687 .)
Mobile & .Ata. Grand Tru.nk.-Dec. 31, 1880. owned from Mobile, Ala.,
to Bigbee Bridge , 59 miles. · Tbe stock was $450,000; 1st mortgage bonds ,
$1,124JOOO. City Mol.lile lJonds donated $750,000. Tll.e company h as
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
$2,573,000
800,000
700,000
3,828,000
5,000,000
250,000
409,000
479,000
650,000
348,000
1,200.000
1,050,00.()
4,000,000
6,000,000
2,500,000
1.450,000
7,900,000
4.054,!H7
4,140,090
mont'ly
St. Louis.
7
M. & N. N.Y.,Imp.&Tr.Nat.Bk
6 g. M . & N.
New York Agency.
6 g. A. & O.
do
do
July, 1891
May 1 , 1892
Feb., 1885
Nov.;·i920
Oct. 1, 1 893
7
..6.
7
7
7
7
7
7
6
5
(1)
450,000
1,124.,000
800,000
800,000
3,023,517
5,320,600
7,000,000
5,300,000
1,850,000
600,000
900,000
600,000
800,000
ii.1J: N.Y.,~~p.&Tr.~~t.Bk.
7
8
7
0
•
7. g.
8
4
2¼
..(;'g.
7
7
7
7
6
2
·i;
F .. &.A. N.Y.,otiice·2o·Nassaust Aug:
.i892
M. & N. N13w York or London.
May 1, 1897
J. & D. New York, Co.'s Office. June 1, 1895
J. & D.
do
do
June 1, 1897
J. & J.
do
do
Jan. 1, 1891
March .
do
do
Pd. l\fay, 1880
March.
do
do
Pd. Oot. 12,'80
do
do
f;. A. & O.
April 1, 1931
g.
g.
g.
g.
J ..&."J. New York ..&.. London. Juij-"i ...i910
.J. & .J. N. Y.. Nat. City Bank.
.fait., l8>-l9
J. & D.
do
do
.June, 1897
F. & ·A. N. Y., Drexel, M. & Co. Feb .. 2, 1880
J ..&.D. Mobile a;.;a. ·New York.
Yearly.
Yearly.
Yearly
Yearly.
J. & J.
New York City.
do
do
do
do
do
do
do
do
Boston.
been in default, ond will be sold in foreclosure unless reorganized without sale. The plan proposed for the issue of new stoclr and bonds is
givi-n at len~t:ii in the CHltONICT:ID, v. 32, p. 6~<>. Francis B. Clark.
President, Mo01le, Ala·. (V. 30, p 222; V. 32, p. 636.)
Mobil,e <E Gira1·d.-May 31, 1881, owned from Columbus, Ga., to Troy
Ala. , 84 miles. Common stock, $987,164; preferred stock, $279,1:100, and
$5.080 Pilrn County sto{lk. Booond mortgage bonds are endorsed by
Central RR. of Ga. Gross earnings in 1878-9 were $195,907 nnd net
earnings $60,335. In 1879-80 gross earnings $228,039; nut, $78,704.
In U80-81, gross. $275,846 ; net, $86,673. (Vol. 29, p. 40; V. 33, p. 73.)
,1fomk ~ ]lmilgomcMJ.-Deo. 31, 1880. owned from Montgomery. Ala.•
to Mobile, Ala., 179 miles. D efault was marle on the bonds in 1873 and
the voad WM sold in foreclosure Nov. 16, 1874, and purchased b.v bondholrlers. who organized this company on a stoclr basis. 'l.'he road i:rn,s done
well, and in Nov., 1879, $1,5j0,000 of the stock owned in this country was
purchased by parties in the interest of tile Louisville & Nashville Railroad at 80, giving the eontrol to that company. The old mortgage deht
yet out is $27:},000. Gross earnings in 1879, $704,580; net, $228,713.
-(Y. 28, p. 327; V. 20, p. 608; V. 30, p. 169, 24'7.)
Mobile & Ohio.-Jtrnc 30, 1881, owned from Mob1ie, Ala., to (;olumbus ,
Ky., 472 milBs, and ~xtension (by Ky. & Tenn. RR.) to Cai ro, 22 miles·
!)ranches-Artesia, MisR .. to Columbus. ~Ii s ., 14 miles; Artesia, Miss.,
to Starkville, Miss., 11 miles; Muldon, l\Iiss., to Aberdeen, Miss., 9 miles;
tot-ru operated, 528 miles. The Uo. funded coupons from their bonds in
Feh., 1867, and resumed payment of interest May, 1870. In 1872 the 2d
mortg1ge bonds were issued to pay floating debt. A default was made
May 1, 1874, and two trustees and receivers took possession May 8,
1875. The stock and bonds of tho company were plaood on the N. Y.
Stoclr Exchange list in July, 1879, and from the statement then submitted the following revised description was taken. The new liens issued
and to be issued are as follows: Ffrst.-New mortgage to the F armers'
Loan & Trust Co., of New York, a.a trustees, upon the main line, excluding
branches, to secure bou.ds in the aggregate amounting to $7.000,000,
dated June 1, 1879, due, in ~old coin of the United Bta~s. Dec. :i.,
1927, interest at 6 per cent per annum in lawful money, represented
by coupons, payable June 1 and Dec. 1 each year, in th~ oitie~ of New
York and Mobile. The whole n.mount of these bonds will be issued at
once. Seconcl.-Doed of tru"t to the Fn.rmers' Loan & Trust Co., as trustees, to secure four series of preferred income and sinking fund debentures. which will be issued only to the extent required to meet the outstanding liabilities of the Mob. & O. RR. Co., after deducting the amount
of such liabilities provided for in and by tho new mortgage of $7 ,OOOi,.000.
These debentures are secured by a deed of trust to the Farmers' LOan
& Trust Company, covering specifically the lands (including over
1,150,000 acres of land donated by the United States) and other property not necessary for the operation of the road. Intereat at the
rate of 7 per cent per annwn, or in multiples of 1 per c .::r. but
not exceedjug 7 per cent in any one yf>ar on tbese debnntures,
is payable annually upon each series in tho order of their priority,
but only if earned in the preceding fiscal year, anrl. is non-cnmulat.i ve. The holders of d ebentures have one vote for each $100, and each
year tbey irnitructed the Farmers' L. & T. Co., tn1stees, how to vote at
· tlle stockholders' meetings upon tile majority of the stock of the Mobile &
Omo Railroad Company, the power to vote upon which is irrevocably
with the Fanners' Loan & Trust Company, nntil the extinguishment of
said debentures. The foregoing bonds and debentures are is,-ued in forbearance, extension and compromise of the present indebtedness of the
Mobile & Ollio Railroad, the entire amount of which (excepting less than
1 p er cent of the fll' st lieus and a-very limited \1ercentage of the inferior
li ens), with the power and authority to avail of the decrees of the
Circuit Court of the United Sk1tes, ad.justing and establishin g Raid ind ebtedness, are assigned and transferi-ed to the Farmers Loan & Trust
Company, as trustees, for the furtllnr security of the bonds and debOJ?.·
tnres herein referred to. The capital stoclr authorized by the charter 1s
$10,000,000, or 100,000 shares of $100 each, of which there have l;?een
issued 53,206 shares. The debentures are secm·ed by adee<loftrust o1 the
land. about 1,14::!,222 acres, a,nd receive 7 per cent, if earned.
In August, 1881, 7 per cent was declared on 1st preferred incomes,
pa,rable 3½ Sept. 1, 188l, and 312 February 1, 1882; also 2 per cent on
2d incomes, payable Feb. 1, 1882.
The last annual r eport was published in the CIIRONICLE of September
10, 1881, V. 33, p. 281. Operations for tive years ending June 30:
P n.'lSengcr Freight (ton)
Gross
*Net
Years.
Miles. Milea,irc.
Mileage.
Earnings. Earnin.Jrs.
1876-7 ........ 529
9,004,770
61,388,247 $2,072,634 $163,226
1877-8 . ... .. . . 529
8,715,315
70,706,581
2,098,540
376,321
187'3-9 . ..... . . 506
6,968,900
58,339,703
1,830,620
379,468
1879-80 . ..... 506 10.468,635
80.406,765
2.284,615
824,966
1880-8 1 ... .. . . . .. 11,312,655
86.950,914
2,377,817
815,330
* After deductin_g- all expenses, including extraordinary.
-(Y. 29, p . 41 . 120. 250; V. 30, p. 222, 434; V. 31, p. 153, 25 7, 559 ;
v. 33, p. 176,281,329, 358.)
lllontpelier & Wells River.-Dec. 31, 1880. owned from Montpelier to
Wells River. Vt. , 38 miles. Reorganizert J anuary, 1877. D.R. Sortwell,
President. East Cambridge. Mass. Gross ear111ngs in ] 879. $ 84,520 ;
net, $19,558; in 1880, gross, $86,479; net, $20,629. (Y. 30, p. 169, ·
272.J
VOL.
XXXIII .
Subscribers -will conCer a great Cavo r by giving lmmeatate notice e C any error discovered ln these Tables.
I
DESCRIPTION.
INTEREST OR DlVIDENDS.
Bo1ids-.Prinoi- - - - - - - - - - - - - - - - - - - - - - 1 Miles Date Size, or
Amount
- - -- ------~-------1pal,When Due.
For explanation of column headings, &g., see notes Roofad. Boonfds Vpa.laure. Outstandinir Rate per When Where Payable, and by Stocks-La.at
on first page of tables.
____ ______
~
Cent. Payable
Whom.
Dividend.
1
- - - -· ----- 1- - - - - - - - - - -1· - - - - - Morgan's La.& Texas-lat mort.,golcl(N.O.to M.City) 110 1878 $1,000 $5,000,000
7
A.. & o.
April 1, 1918
New York.
1st mortgage, ex tension, gold . . . . . . . . . . . . . ... __ .. 150 1880
1,000
1,800,000
6 g . J. & J.
do
July 1, 1920
50 15,000,000
1
312 .J. & J, N. Y., Del., Lack & W. J a u. 3 , 1 882
Mort"UI d! Essex-Stock. --·---·- ........ _-··_-· ... -··-·
lat mortgage, sinking fund .. _. __ ... _.. . _...... . .. .
250
i864
5,00 0,000
7
1'1 &N.
Ma y 1, 1914
do
do
,.,
2d mortga&"e. __ ...... __ .. __ ......... _............ - - .
3,000,000
84 1 866 500 &c.
F. &A.
do
do
Aug. 1, 1891
1,000
284,000
7
.T. & J.
do
a.o
J a n. 1, UJ00
Conv ertible bonds . . -- · _.. . _.. . .... - -· · --· · -· . . - -- ..
1 ,0 00
Gen. m. & 1st on B oonton Br. &c. (g uar. D.L.&W.) ·34
4 ,9 91,000
7
A.. & o.
do
do
Oct., 1901
1,000
5,050,000
Consol. mort. (for $25,000,000) guar. D. L. & W .. 137 1875
7
J. & D .
June 1, 1915
do
do
Special real estat e mortgage ... _... _. . __ ... __ ....•.
1,025,000
7
·ioo
M.. &~ -N.
Boston·&- Nit,~hna.
54
800,000
4
No,-. 1. 1 881
Nashua & Lowell-Stock .... ·- · ······· ······· · ··· ... .
Bonds for freight depot (gold) . ................... .
1873
200.000
6
F . & A. Bost .. P a rker &St'ckpole. A ug. 1. 1893
.. 25 6,670,325
Nashville Chattanooga cf: St. Louis-Stock .. . ...... . ,i63
3
A. & 0. New York & .N a s hville. O c t. 1, 1881
Bonds to U. S. Government, 2d mort . ... . ..... _.. 340 i s7i 10,000
500,000
4
,J. & D.
Washington.
.Tune, 181H
1,000
Bonds en:lorsed by Tenn . ....... . . _.. . ............ . 151 1857
406,000
6
J. & J. N. Y., Metrop. N a t. Bk. 1 881 to 1886
1,000
1st mort. (for $6,800,000), coup . ............. _... . 340 1873
5 ,89ic,000
7
.J. & J.
rlo
do
July 1, 191::!
1,000
1,000,000
G
J . & J.
do
do
July 1, 1901
2d mort . ... .. .............. . ... .. --·· ... ·--·········· 321 188 1
1,000
3!)8,000
Bonds of N. C.& St. L., 1st mort. on two branches
8 8 1877
6
.J. & J.
do
do
J an. 1. 1917
do
do
1st mort. on Tenn. &Pac ... .
1,000
300,000
30 1877
6
J a n. l, 1917
J. & .T.
do
do
do
do
for Jasper Branch .. -...... .
1,000
90,000
712 1877
8
J. & J.
do
do
F eb. 1, 1907
1,827,000
Nashville ct: .Vecah-w-Stock, gu~r'd 6 p. o. by L. & N. 122
3
Dec., 1881
.I. & D.
··········
1st mort. guar. s. f. .. _... _.... . ................... . 122 1870
1,000
1,900,000
7
J. & J. N. Y., Drexel, M. & Co. July 1, 1900
2d morti;rage ....................................... . 122 1867
500
178,000
6 g. A.. & 0. Nashville, Co.'s Ofllce.
Oct., 1887
600,000
7 g. A.. & O. N. Y., Bank or America-. April 1,. 1910
99 1880 500 &c.
Natchez Jaclcson& Colum.bus.-lst mort. gold ... ·-··
Naiigatuckr-Stock_ .. _. _...... . .............. . ....... .
57
100
2,000,000
5
J. & J.
Bridgeport, Conn.
July 15, 1881
18
50
1,300.000
312 M. & S. Philadelphia, Co.'s office Sept. 1, 1881
Nesquehoning Valley-Stock __-··· .... _....... ···-···
94 1879
1,000
720,000
G g. A.. & O. N. Y., Hatch & Foote. Oct. 1, 19-0-1
Nevada Central-1st mort., gold (sink. f., $20,000)
23 1876
Nevada Coimt11-lst mortgage .. . ........ . ......... .
200,000
8
Jan. 1, 1896
250,000
Newett·lc d! Huason-lst m01-tgage ................... .
5
6
Nov·..
.i889
44 1869 500 &c.
800,000
Newarlc Somerset cl: St1·aits'IJ., 0.-lst mortg:i.ge .... .
7 g.
1,164,500
Newbw·g Dutchess cl: Connecticut-Income b-!>nds .. . ..i2
::::
....
250,000
Newburg cf: New Yorlc-lst mo1-tgage . . ......•.......
7
:::: N.Y.,om.-ceifyj,.E &W
::::::::
15
··50
New Oastle cl: Beaver Valley-Stock . ................ .
700,000
(1J
Q.-J.
Newcastle, Penu.
Jan., 1882
New Haven clDe1·by-lst & 2d mortgages .......... .
rn 68&70 500 &c .•
525,000
7
Variollil N. Haven, Mech. Bank.11898 to 19~00
New llaven cl: N01·thamp. (canal RR.)-Stock ....... . 121
....
100 I 2,460,000
3
. . ..
New Haven..
Oct., 187...
Mortgage bonds, coupon ......... . ..........•..... .
1,300,000
J. & J.
do
Jan., 1899
7
~~
I
100,000
Bonds convertible tax free, coupon .............. .
A.. & O.
do
April. 1882
6
~I
vi3s~~s
1:
. rn~g
1:888
Morgan's Louisiana cl: Texas Railroad cl Steamsh-ip Oo.-Oct-0ber, 1881.
owned from New Orleans to Morgan City, 80 miles, and branches 30
miles; total, 110 miles; extension, Morgan City to Alexandria, La., 150
miles; total. 260 miles. This company's applioatioR to the New
York Stock Exchan"e, July, 1881, stated that: "The company's
property consists of sixteen iron steamships, five of which ply
between New York and New Orleans, nine between Morgan City,
La., and the various Texas and Mexican ports, and two between New
Orlt>ans, Florida and Havana ports; also four large ferry boats, tugs,
dredge boats; wharves.warehouses, and te11minal facilities, besides nearly
the entire capital stock of the Gulf Western & Pacilio Railroad, Texas
Transportation Railway Co., Buffalo B a.you Ship Channel Co., and a
majority interest in the capital stock of the Houston & Texas Central
Railway Co., &c. It operates 216 miles of completed road in Louisiana,
and has 44 miles under contract. The capital stock is $5,000,000.
Chas. A. Whitney, President, New Orleans, La. (V. 33, p. 100.)
Morris cl: Essex.-Dec. 31, 1880, owned from Hoboken, N . J., to Phillipsburg, N. J., 84 miles; branch. Denville, N. J., via Mor. & Es. Tunnel, to
Hoboken, N. J., 34 miles; total operated, 118 miles. In 1868 this road
was leased in perpetuity to the Del. Lack. & W. RR. The lea.sees assume
all liabilities of the Mor. & Essex RR. and pay 7 per cent per annum on·
the capital stock, and they als agreed to pay 8 per cent in case the
Morris & Essex earns 10 per cent on its stock many one year after the
year 1874. Earnings for five years past were as follows:
Gross
Net
Div'd
Years.
Miles.
Earnings.
Earnings. p. ct.
1876 . .... , ... _........ . 121
$3,452,319
$1,184,723
7
1877............ . ...... 121
3,368,441
1,222,507
7
1878 ................... 121
2,710,117
782,328
7
1879·-- · ······· · ······· 121
3,515,097
1,559,354
7
1880 ................... 121
3,823,652
1,446,193
7
The loss to lessee in 1879 was $900,701; in 1880, $1,012,416. (V. 28,
p. 451; v. 30, p. 566; v. 32, p.J.83, 5'7'7.)
Ncishua & Lowetl.-March 31, 1880, owned from Lowell, Mass., to
N a.shua, N. H., 15 miles; leased-Stony Brook RR. 13 miles ; Wilton RR.,
16 miles; P eterborough_ RR., 10 miles; total operated, 54 miles.
Tile road was operated with the Boston & Lowell till Oct. 1, 1878. On
October 1, 1880, a lease for 100 years to the Boston & Lowell was
made. There are also $100,000 5 per cent bonds uue July 1, 1900, and
the company holds $300,000 cash assets a gainst the d ebt. Operations
and earnings for three years past were as follows:
Passenger Freight (ton) Gross
Net Di'v.
Years.
Miles.
Mileage.
Mileage.
Earninus.
Earn'gs. pc
1877-8 ...... 54
10,832,906
7,526,444
481,358
140,306 2 .
1878-9 .. . ... 54
6,610,125
7,733,360
377,006
168,793 6
1879-80 .... 51
6.224,991
9,281,579
391,923
160,152 012
-(V. 29,·p. 4[19; V. 31, p. 67, 482, 509; V 32, p. 16, 43, 335. \
Natchez Jackson cl: Columbus.-Februa.ry, 1881, built from Natchez,
Miss., beyond Martin, Miss., 50 miles. In progress. to Jackson and
bonds sold in New York by Britton & Burr.
Naugatuck.-Sept. 30, 1881, owned from Naugatuck Juu~tion to
Winsted, Conn., 5612 miles; leased.'Watertown & Warerbury RR., 4:tg
miles; total operated, 66 miles, 5 miles of N. Y. N. H. & Hartf. being used
between Naugatu.ckJunctio:n. and Bridgeport. Has no bonded or :floating.
debt. Operation.a and earnings for five year8 past were as follows:
Passenger FreiRht (ton)
Gross
Net Div.
Years.
Miles.
Milea~e.
Mueage.
Earnings.
Earn:,g,a. p.o.
1876-7 ...... 66
5,899,u88
4,308,194 $520,820 $207,7::>9
10
1877-8 __.... 66
6,214,917
5,742,605
477,834
206,301
10
1878-9 ... 66
6,322,281
7,366,813
499.188
222.275
10
187!l-80 . .. . 66
7,297,580
8,489,903
592,151
2!2,063 10
1880-31 .... 66
614,410
201,390 10
-(V. 31, p. 509,557; V. 33, p. 6 ·l l,)
Nesqiielwning Valley.-Dec. 31, 1880, owned from Nesquehoning Junotion, Pa., to Tamenend, Pa., 17 miles; Tannel Branoh,-Hauto, Pa., to
Lansford, Pa., 1 mile; total operated. 18 miles. Opened in 1870, and
was leased for 999 years to the Lehigh Coal & Nav. Co. at a lease rental
of $130,000 per annum, but with an option for the lessees to terminate it
after 1878. In 1879 the lease was modified so .as to pay 7 per oent a,
y ear only. (See terms, V. 29, p. 18.)
Nt,'Vada Oent,-al.-Dec. 31, 1879, owned from Battle Mountain to Ledlie, Nev .• 86 miles; branch, Ledlie, Nev., to Austin, Nev., 7 miles; total ,
93 miles. Bonds admitted to N. Y. Board April, 1880. (V. 30, p. 409.>
Nevada County-Dec. 31, 1880, owned from Colfax to Nevada City,
Col., 23 miles, narrow crauge. In 1880 gross earnings were $115,655;
net, $41,HlS. Stock, $242,200. J.C. Coleman, President, Grass Valley,
CoL
Newm·l., d: Hiidson.-Dec. 31. 1880, owned from Bergen Junction to
Newark, N. J., G miles. Leased to New York Lake Erie & Western at a.
rental of $33,000 p er annum, which payR interest on bonds and 7 per
cent on the stock or $250,000. Cortlandt Parker, Pres't, Newark, N. J .
Newai•;~ Som. cf: Strai tsv.- -Sept. 30, 1880, owned from Newark, O .• to
Shawnee, 0., 44 miles. Road was completed in 1871. Leased to Sandusky
Mansf. & Newark for 14 years fTom Jan. 1, 1872. Operated by the Balt.
& Ohio, which pays 30 per cent on gross earnings, and advances 9,ny
additional amount necessary to meet the intereat on the debt. Capital
stock, common, $783,900, and preferred, $189,550. Gross tarnings in
1877-8, $135,295; net, $50,749 ; deficit to lessee, $5,251.
Newb. Dutchess d: Oonn.-Sept. 30, 1880,-ownel from Dutchess Juno.,
N. Y., to Millerton, N. Y., 59 miles. The Dutchess &. Col. RR. was sold
Aug.5.1876, and this company was organized Jan. 8, 1877, by the purohasiJ.1g bondholders. In 1877-8 gross earnin~s w ere $135,823; net,
$5,921; in 1878-9, g ross. $164,488; net. $ 18,::>46; in 1879-80, gross,
$166,231; n et, $29,040. The common stock is $172,000 and ureferred
Nashville Chattanooga d'; St. Lowis.-June 30, 1881, owned from Chat- stock: $715,350. John. 8. Sohultze, President, Moor's Hills, N. Y.
tanooga, Tenn., to Hickman, Ky., 321 miles; branohes-Wa1-trace, Tenn.,
Newburg cl: N. Y.-Oct. 1, 1880, owned from Vail's Gate .function to
to Shelbyville, Tell.J?.,, 8 miles ; Bridgeport, Ala., to Victoria, Tenn., 19
mlles; prO"prietary lines-Nashv. to Lebanon, 30 miles; McMinnville to Greenwood Junction, N. Y., la miles. Leased October 5, 1866, to Erio
RR.,
at $17,500 per annum, and operated now by N. Y. Lake E. & West.
Manchester, 35 miles; Mcl\'linnville to Caney Fork, 13 miles; Decherd
to Fayettev ., 40 miles; Centreville Branch, 20 miles; Duck River RR. Nominal stock, $500,000.
(leased), 35 miles; total, 521 miles. The debt to the United States and
New Castle & Beaver Val.-Dec. 31, 1880, owned "from Homewood. Pa.,
'the bonds entlorsed by Tennessee are secured by deposit in trust of this
to New Castle, Pa., 15 miles. Road in operatiou since 1860. Leased to
company's first mort. _bonds. Following is a statement of receipts. &c., Pittsb.
Ft. W. & Chic. RR. for 99 years at a rental of 40 per cent on gross
for the year ending June 30, 1881:
earnins-s, Lease transferred to Pennsylvania Company. There is no debt.
Gross receipts .... . ..... ·.· ...................................... $2,256,186 In 187ts, 24 per cent in di vidl'nds was paid; in 1879, 13 per cent; in 1880,
Operating and extraordmary expenses········ · -············· 1,811,780 13 p . c. Gro6Js earnings in 1880, $325.783; rental received, $180,313.
· Surplus over operating expenses . . . . . . . . . . . . . . . . . . . • . . . . . . $444,405
Interest and taxes ................ ·········· · ··· · ··-·...... . ... $541,514
Enrningli for five years e]!ding June 30 were as follows:
Gross
Net
Div'd
Years.
Miles.
Earnings.
Earnings. p. ct.
1876-7 ......... . ....... . ... 341
$1,632,277
$682,302
3
1877-8 ........... . ...... . .. 454:
1,871,809
767,995
2
1878-9 ........... . ......... 454:
1,736,723
715,135
3
1879-80 ........ ·-·· · · · ···· 508
2,099,155
914,407
312
1880-81 ................... 528
Z,256,186
878,009
... .
-(V. 31, p. ,328, :18 0 . 429, 588; V. 32, p. 39, 231, 232, 313. 335, 437,
553, 685, 686; v. 33, p. 101, 176, 201, 304, 329, 356, 442, 717.)
Nashville cl: Dccatur:-June 30, 1879, owned from Nashville, Tenn., to
Decatur, Ala., 122 miles. The road was leased May 4, 1871, to the L.
& N. RR.Jor 30 years from July 1, 1872, at a rental of 6 per cent per
annum on the stock, ~- begin after the completion of the So. & North Ala.
RR., and the first diY1denu unrler this arrang-ement was paid April 1
1 875. The lessee assumed all the debt of the Nashville & Decatur Co. '
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
New Haven cl De1·by.-Sept. 30, 1881, owned from New Haven, Oonn.,
Ia miles. Road opened .Aug. 9, 1871. · Capital stock
is $447,100. New Haven City guarantees tho $225,000 second mortgage bonds. Gross earnin,$.S in 1878-9, $106,478; net, $52,535; gross
eat·nings in 1879-80, $122,ts3G; net, $48,776; in 1880·81, gross, $14:7,564; net, $48,268.
New Haven ti: Northampton.-Sept. 30, 1880, owned from New Haven,
Conn., to Bardwell's Ferry, Troy & Greenfield RR., 95 miles; branchesFai,ningtou, Conn., to New Hartford, Conn .. 14-miles; Simsbury, Conn.,
to Tariifville, Conn., 1 mile; South Deerfield to Turner's Falls, 10 miles:
Northampton to Williamsbur~, 8 miles; leased, Holyoke & Westfield
RR.. 17 miles; total operatea, 144 miles. In April, 1881, a. control
of the road was sold to N. Y . New Haven & Ha,rtford pa1-ties. See
V. 32, p. 421. Operations and earnings for three years past a.a follows :
Passenger Freight (ton)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings.
1878-9 .......... 109
4,727,857
14,942,W8 $588,280 $222,207
1879-80 . . . . . . . . 144
5,644,750
16,365.1~2
694,506
276,287
1880-81 . . . . . . . . 144
5,612,006
18,705,d65
-(V. 32, p. 90, 421.}
to Ansonia, Conn.,
DECBll:BJtn,
1~1.]
RAILROAD STOCKS AND BONDS.
xii
Snbl!lcrlben will conCer a great f"a-yor by giving l.nunedlate notice oC any error discovered In these Tab::.e11.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Bonds~PrmC'i- - - - - ' - - - - - - - - - - - - - - - - - - 1 Miles Date Size~ or
Amount
- - - - - - - - - - - ~ - - - - - - 1 p a 1 , W'hen Due.
of
of
Par Outstanding Rate per When Where Payable, and by Sl<J~7~-Last
on first page of tables.
Road. Bonds. Value.
Cent. Payable
Whom.
Dividend.
For explanation of column beadings, &e., see notes
New Ha1•en & Northampton-( Contimted)-
Holyoke & w.,leased, 1st M.1$60,000 6s, '98 guar.)
Consol. a.in.king fund and mort. bonds ......... _...
New Jersey & New Yorlc-lst mort. (reorganization,
N. J. So1tthern-lstmort. (int. guar. by N.Y.& L .B.)
- - -·- - - - • I - ' - - - - - - - - - •
17
. .. .
30
78
N ~1fo!~~ci!,~.e<Jft~ci~~ -~~~:•_ ~.~~~·:::::::: 100
1st mortgage bonds................................ 100
2d mortgage........................................ 100
Consol. mortgag;e (f?; $1,500,060) .. .. : ............ 121
New Orleans Mobile re Texas-1st mort.. ~old....... 147
2d mortgage, debenture (non-cumulative), reg. . . 141
N. Y. & Canada-lat M., sterlinl!:, guar. D.& H. Can. 113
New York Central & Hudson Rive1·-Stock . • . ....... 1,000
Premium bonds ........ .. .. . ... (N. Y. Central).... . . •.
Bonds, B. &N. F. stockholders do
.... . .. .
Bonds railroad stock {N. Y. Central) . . . . . . . . . . . . . . . .. .
Bonds real estate
do
. . . . . . . . . . . . . . . .. .
Renewal bonds................ . ....... . ............ . .. .
2d mortgage, sinking fund (Hudson River)........ .. . .
New mort"'a"'e
5 $30,000,000 l coupon or regis• 8 4 0
0 b
£2,000,000 .S
tered.
840
}
N. Y. QMca(}Q & St. Louis-Stock (for $40,000,000)
....
N. Y. Oity Elevated.-Stock ...... ········-··--····-·· ··1·8·
1st mortgage,$ or£ .............................. .
N. Y. Oity & 1Vorthern-General mort. ........•. ....
62
New York & Greenwood Lake.-lat mortgage . . . . . . .
40
2d mort., income ... . ......... . . .. .. .... • ............
New "J'ork & Ba1·lem-Common stock.. ..... . ...... .. 13~
ro-:~~:~o~\~~~ouii: oi-· ·rig:; ·(for· aiiiooo,ooo>::::
N . Y. Lackawanna Weste1·n.-Stock ($10,000,000)
&
1st mort~age, coupon , may be registered.........
N. Y. Lake Erie & West.- Stor,k, common....... . . . .
Preterred stock.......... . . . . . . . . . . . . . . . . . . . . . . . . . .
fa2
....
200
. .. .
. .. .
1870
1880
1879
1869
i865
1872
1880
1880
1880
1874
i853
1854
1853
is5.4
isfa
1873
i876
$1,000
$260,000
1,000
1,200,000
500 &c.
275,000
600
1,4-19,600
1,000
200,000
100
1,500,000
lO0&o.
300,000
500 &o.
387,500
1,000
812,000
1,000
5,000,000
1,000
3,000,000
4,000,000
£100&c
$100 89,428,300
500 &c.
6,632,300
74,500
500 &c.
1,000
592,000
1,000
162,000
1,000
2,391,000
1,422,900
1:000 20,465,000
1,000
9,733,333
·ioo -
1,000
1880 500 &c.
1875 100 &c.
100 &c.
50
50
1,000
100
1,000
1881
100
100
1
New Je1·sey&New York.-November, 1880, owned from Jersey City(Erie
J1U1otion), N. J., to Stony Point, N. Y., 30 miles; leased. Nanuet & New
City RR., 5 miles; total operated. 35 miles. Organized Sept. 4, 1874, by
oonsolidation of the Hackensack & N. Y. RR. and the Hackensack &
N. Y. Extension Railroad; Receiver appointed in.1877. The Hackensack
& New York Railroad was sold in foreclosm·e August 14, 1878, and was
leased in perpetuity to this company, and now forms part of main lliie.
Reorganized in 1880, with above debt. Gross inl880, $182,012; net,
~15,529. (V. 29, p. 459,538; V. 30, p. 248, 3 85,566; V. 32, p. 611.)
New Jersey Soulhern.-Dec. 31, 1880, owned from Red Bank, N. J., to
Atsion, N. J.,54 miles; branches-Eatontown to Long Branch, 5 miles;
Atsion to Atco, 9 miles; l\Ianchester to Barnegat, 22 miles; other roads:
Sandy Hook to Long Branch, 11 miles; Beach Track, 2 miles; Atsion to
Eays1de 46 miles; total operated, 150 ruiles. The property was sold
in foreclosure March 31, 1879 (see CHRONICLE , V. 28, p. 352), and the
present company was or 00 anized July 25, 1879, with Judge Lathrop,
reoeiver of the Central ofNew J ersey, as president. The capital stoclr
is $ - - . The property i s subject to $120,000 on the Tom's
River Railroad and $200,000 on the Lon"' Branch & Sea Shore RR.
This latter bond is endorsed by the United' Companies or New Jersey.
The above mort~age is for $1,590,600, of which $1,449,600 have interest
guaranteed by the New York & Long Branch Railroad by endorsement
of the bonds. The road is now operated as a part of the Central New
Jersey system. (V. 28, p. 146, 173,352; V. 29, p. 121; V. 32, p. 121.)
New London Northern.-September 30, 1880, owned 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 December 1, 1871, under lease to the Central Vermont Railroad; the lease was for 20 years at $155,000 per year. Consolidated
mort. bonds issued to retire all other funded and floating debt and to
pay for branch recently purchased from Vermont & Mass . . RR. Operations and earnings for four years past were as follows :
Passenger Freight (ton)
Gross
N et
Div.
Y ears.
Miles.
Mileage.
Miieage.
Earnings. Earnings. p.c.
1876-7 .... 100
5,941,778
12,169,737 $507,889 $137,135
612
129,609
1877-8 ... . ,100
4,765,084
11,610,469
470,455
6
1878-9 .... 100
3,927,511
12,637,957
470,102
l.".9,484
6
1879-80 .. 100
6,144,189
18,975,296
591,346
179,030 6
- (V. 30, p. 169, 384. 409.)
New Orleans Jfobile re Xexas.-Dec . 31, 188 0, owned from Mobile to
New Orleans, with branch to Pontchartrain, 147 miles. T he old company
defaulte,d in 1874, and the prJ;>perty was sold in foreclosure April 24,
1880, and this company or~anize<l. Stock is $4,000,000. The road was
l eased May 8 , 1 830, to Lomsville & N ashville, which operates it. 'l'he
L. & N. sold its own $6,000,000 bonds secured on this road, against
which a mortgage of same amount is held in trust for t he L . & N. · The
second mortgage debentures can be paid off before maturity. (See full
statement in CHRONICLE, v. 31, p. 328.)
New York & Canada.-Dec. 31, 1880, owned from Whitehall, N. Y., to
Rouse's Point, N. Y., 113 miles; branohes: Ticonderoga, N. Y., to Lake
-0-eorge, N. Y., 4 miles; Plattsburg, N. Y., to Ausable, N. Y., 20 miles;
West Chazy to Province line, 13 miles; total operated, 1 50 miles. This
company was organized March 1, 1873, as successor of the Whitehall &
Plattsburg and the Montreal & Plattsburg railroads. The whole line
was completed Sept. 18, 1876. The road is virtually owRed by the Dela~are & Hudson Canal C~mpany, which guarantees _the bonds. The stock
1s $4,000,000. Ear11.ings m 1878-9 were $127,502; m 1879·80, $294,984.
,v. 29, p. 581; v. 31, p. 357,483; v. 32, p. 98.)
New Y01·k Central cf: Hudson.-Sept. 30, 1880, owned from N. Y. City to
Buffalo, N. Y ., 442 miles; branches on N. Y. Cent. division, 298 miles;
total owned, 748 miles; lines leased-Tror. & Greeenbush, 6; Niag-ara
Bridge & Canandaiirua, 98; Spuyten Duyv1l & Port Morris, 6; N. Y. &
Harlem, 127; Lake Mahopac, 7; total, 245 miles; grand total, 993 miles.
The second track owned is 508 miles; third track, 270 miles ; fourth
track, 236 miles; turnouts, 511 miles-making a total ofJ,520 miles of
~~8i°~u ~n:te
0
i~r:gl~
~e~\r~~~~~li•a1~~! rg~tt1¥soii~i!~~~!uri~:
1,-1869. The New York Central wa:s a consolidation of several roads,
under a. special law of April 2, 1853. The Albany & Schenectady Rail•
road opened September 12, 1831, as the Mohawk & Hudson. It was the
first railroad built in the State of New York. The famous scrip dividend of 80 p er cent on the capital stock was made in D ecember, 1868,
and on the consolidation with the Hudson River road (Nov. 1, 1869) a
further dividend of 27 per cent was distributed on the N. Y. Central
stock and 85 per cent on the Hudson River stuck. The mortgage for
$40,000,000 was issued to lay the third and fourth tracks, with a
suffioien.t balance retained by tlle company to retire all prior bonds. In
November, 1879, 250,000 shares ($.25,000,000) were sold to a syndicate
of bankers by Mr. W. H. Vanderbilt at the price of 120, and 100,000
shares more afterwards. Prices of stock have been:
·
1880.
1881.
1880.
1881.
Jan ...... 135 -129
1 55 -147¼ July .... . 13212-12614 14634-1411-s
Feb .•. . .. 13312-130
151 14-140
August .. 13412-12838 14514-14112
March ... 137 -12938 14834-x4212 Sept'ber. 133 x1281s 14512-141:Je
April ..•. 136 -12912 147 -140 7a October . 13818-12934 14212·13538
May ..... 131 -122 - 15238-145
Nov'ber . 14712-135 , 14034-13612
June ..••• 129¾-122 14 1515s-xl45 Dec1ber .• 15538·13934 ...... -.•••..
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
----1-----------l-----·;.,·a•__.
6&7
6
A. & O.
A. & 0.
M. & N.
J. & J.
J. & D.
Q.-J.
112
6
A. & 0.
7
J. & D.
5
J. & J.
g. J. & J.
April.
6 g. M. & N.
2
Q.-J.
6
M . & N.
6
M. & N.
6
M. & N.
6
M. & N.
6
J. & D.
7
J. & D.
7
J. & J .
6 g. J. & J.
New Haven.
do
JerseyCity,Co.'s Office.
N. Y., Cent.of N .J.Offioe
New York.
New London, Office.
N . Y., B'k of N. America
do
do
do
do
N. Y., Drexel M. & Co.
N.Y. ,Farmers' L.&T.Co.
London. Baring Bros.
N.Y., Gr.CentralDepot.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
London,
Apr.1'91 &'98
April, 1, 1909
1910
July 15, 1899
Dec. 1, 1899
Jan. 1. 1882
1:!ept., 1885
July, 1892
July, · 1910
J an . 1, 1930
May, 1930
May 1. 1901
Jan. 16, 1882
May 1, 1883
May 1, 1883
May 1, 1883
May 1, 1883
Dec. 15, 1,887
June, 1885
Jan. 1, 190:J
Jan. 1, 190:J
Q·.:.:j_ N.Y., Treasurer's Office.
& J ·. N. Y., Corn Exch. Bank.
& N. N. Y., Company's Office.
& A. New York, Co.'s Office.
& S.
do
do
J. & J. N.Y.,Gr.CentralDepot.
J. & J.
do
do
M. & N .
do
do
J ..&.. J.
New Yot·k Agency.
Api-: ·
i881
Jail. 1. 1906
May 1, 1910
6
6
7
i
(1 )
6,500,000
8,500,000
3,685,000
900,000
1,800,000
8,500,000
1,500,000
11,100,000
(7)
12,000,000
77,083,800
8,156,725
2lg
7
6
7
7
4
4
7
..6.g.
..6.
,T.
M.
F.
M.
::::
1; ·
Jau:·3;·i882
J an. 3, 1882
May, 1900
J an.-- i·, ""i921
J a n ...i5·;i882
REVENUE ACCOUNTS-1875 TO 1880-FIVE YEARS.
Year
Net Income, Diviendin"' Passenger Freight (\:on)
Gross · over exp., dends,
Sep. 3'3. Mileag~.
Mileage,
Earnings. int.& rents. p. c. Surplus.
1876.353,136,145 1,674,447,055 $28,046,588 $7,213,075 8
$73,547
1877.316,847,325 1,619,948,685 26,579,085 6,943,347 8def.197,312
1878.300,302,140 2,042,755,132 28,910,555 !:S,038,445 8
898,917
1879.290,953,253 2,295,825,387 28 ,396,583 7,594,485 8
454,957
1880.330,802,223 2,525,139,145 33,175,913 10,569,219 8 3,427,706
-(V. 29, p. 563, 65 5; V. :30, p. 17, 92, 170, 357, 49 4, 589, 624; V. 31,
p. 95,143,196, 3~9, 510,662,671; v. 32, p. 15, 437; v . .33. p. 425,
528, 709 .)
New York Ohi.cago & St. Louis.-This is the company formed in 1881·.
building the new line of road from Buffalo to Chicago, 521 miles. Of
t h e above stock $15,000,000 is pref. 7 p. ct., but the issues have not yet
been made, and may be changed. _ The " subseriptions" to the stoek, or
rights, have been quoted much above par. (V. 32, p. 421, 553; V. 33,
p. 176, 255, 469, 716.)
New York City Elevated.-Sept. 30, 1880, owned from South Ferry,
N. Y., east side, to 129th Street and west side , to Eighty.third St.,
14·76 miles; branch, 1 mile; total, 15·76 miles. The property wa.~
leased to the Manhattan Railroad, with a guarantee of 10 per 0<1nt dividends on the stock. The last report of operations, for the year ending
Sept. 30, 1879, was given in the CHRONICLE, V. 29, p. 630. Passe~/Eer&
carried in ~79, 29,875,912. For the first quarter of 1880, see m.anhattan Elevated on page 37. Total real cost of this road to January,
1880, is estimated to have been $8,719,038. (V. 31, p. 68, 95, 123, 304,
329, 358,405; v. 32, p. 70, 468, 552, 647, 685; v. 33, p. 24, 47, 74, 124,
176, 2trn, 304, 385, 397, 404, 468, 560. >
New York City & Northern.-Dec. 31, 1881, owned from 157th Street
in 8th Avenue, N. Y. City (connecting with Metropolttan Elevated), to
Danbury, Conn., 62 miles. This company was org anized March 1,
1878, and acquired the N. Y. Westcllester & Putnam (formerly th6
N. Y. & Boston Railroad), sold in foreclosure March, 1876. The company in May, 1880, leased the West Side & Yonkers road for 999 year~,
and° the consolidated mortgage was issued to take up all the other bonds,
of which $:274,000 u nder a prior mortgage were outstanding Nov. l,
1881. Stock i s $3,000,000. (V. 30, p, 409,519,544, 651; V. 31, p. ~5;
v. 32, p, 101, 265, 288, 500.)
.
New York & Greenwood Lake.-Dec. 31. 1880, owned from J ersey City,
N. J .. to Greenwood Lake, 40 miles; extension, New YC~.'k Lake Erie
& Western, 112 miles; total operated, 4112 miles. Branch to Orange,
N. J., opened in 1881. T his was the Montclair Railroad, opened in
1874. It was sold and r eorganized as Montclair & Greenwood Lake,
and again sold October 12, 1878, and the present company organized.
The New York Lake Erie & Western purchaseu a controlling mterest
in the property and now operate it. The holders of the second mortgage bonds have a right to pay off the first mortgage bonds of $900,000
at 105, and thus gain control of tho property. (See Vol. 27, p. 172,
228.) It has been reported that th0 New York Lake Erie & Western
pu,·posed extending the road and makin~ it an important part of their
line. In 1880 _the gross receipts were ;i,133,452; expenses, $155,071.
-(V. 31. p. 559, V. 32, p. 611 .l
N. Y. cl . Harlem.-Sept. 30, 1880, owned from N. Y. City to Chatham,
N. Y., 127 miles. From Chatham to Albany, 24 miles, the Bost. & Alb.
RR. is u sed. This company owns 512 miles of street railroad on the
Fourth A ven.ue. The property (except the horse railroad) was lease4
April 1, 1873, for 401 years, to the N. Y. Central & Hudson River RR.,
at a yearly rental from the lessee of 8 per cent dividends on the stock and'
the interest on the bonds. The Fourth avenue horse railroad, together
with valuable real _e state, was retained by this company, and extra
dividends are,v.aid out of the r eceipts therefrom annually m April. All
operations of the main road are included with those of the N. Y. Central
& Hudson. (V. 28, p. 18.) ·
New Y01·kLack. & West.-'l'hia is the road from Binghamton to Buffal0
about 200 miles, built under the auspices of Del. Lack. &West. and the
Wab. St. Louis & Pac., The mortgage for $12,000,000 is made to the
Farmers' L. & T. Co., trustees. (V. 31, p. 229; v. 32, p. 578, 637; V. 33,
p. 4-7, 385, 560.)
New York Lake Erie & Western.·-Sept. 30, 1880, owned from Paterson
N. J., to Dunkirk, N. Y., 430 miles : branches-Piermont, 18 miles; Newburg, 18 miles; Buffalo, 60 miles; Erie International RR., 5 miles;
leased-Mont. & Erie RR., 10 miles; Goshen & Deckertown, 12 miles;
Newburg & N. Y., 13 miles; Pat. N ewb. & N. Y., 11 miles; Hawley &
Honesdale, 24 mileo..; Jefferson RR., 37 miles; Buff. Brad. & Pittsb .. 26
miles; Buff. N. Y. & Erie, 140 miles ; Suspension Bridge & Erie Junction,
23 miles; Rochesh r & Genessee Valley, 18 miles; Avon Gen. & Mount
Morris, 17 miles; Paterson & Hudson, 15 miles; Paterson & Ram., 15
miles; Lockport & Buffalo, 13 miles ; Buffalo & Southwestern, 68 milesi
controlled-Newark & H_udson, 6 miles; Weehawken New York & FOni
Lee. 5 miles; Northern of N. J., 25 miles; total operated, 1,009 miles.
In 1881 an arrangement was made for completion of line from Marion.
o., to Chicago, forming a through route. See v. 32, p. 613,
.RAILROAD STOCKS AND BONDS.
xlii
Subllcrlbers
~
For e"lCplanation of column head.in~, &c., see notes
on first page of tables.
I INTEREST OR DIVIDENDS.
B~-.Prtnci•
t - - - - - : - - - - ~ - - - - - - - - - 1 p a l , Whoo Due
t:1~].............,
.. , . Rate
per When Where Payable_ and by stocks-Last .
Cent. Payable
Whom.
Dividend.
Miles Date Size, or
of
of
Par
Rood. Bonds Value. Ou
New York Lake Et'i• & Western-(Oontinuedl-
lst mortgage (extended in 1867 to 1897) .. ...... .
2d mortgage, convertible (extended in 1879) .... .
3d mortgage ............... . ....................... .
4th mort., conv. (extended in 1880 at 5 per cent)
5th mortgage, oonvertil.>le .... ... ............... .. .
Buffalo Branch Bond.s ............................•.
Long Docle Co. mortgage ......... " ...........••....
1st consolidated mo1-;tgage, gold ... ............... .
do .
do
funded coupon bonds.
N. Y. L. E. & W., new mort., gold, 2d consol. .....
do
do
do
do fund. coup.
do
income bonds (non-cumulative) .
4 59
New York &Lonn Branchr-Stock ................... .
Mortgage bonds ($1,500,000) . ................ . .. .
cl: N. Ennland-Stock ($20,000.000 anth'rized)
1st mortgn@:e, new ($G,000,000 are 7 s) ........... .
New ~orlc New Haven cl: TJar(ford-Stock . ....... .
Harlem & Portchester. lRt mort~age gum-anteed .
do
do
2d mort., ooltp. or reg ... . .
Neic York Ontario & Westcni-Prefe1Ted stock ..... .
Common stock .... . .. . ............................. .
llew York Penn. cf: Oh-ir>-Priot· lien b011ds,gold,$&£
1st mort., gold, incomes till July, 1855, $ & £ .. .
2d mortgage, incomes. $ & £ ..................... .
3d .:no~age, inoomos, $ & £ .................. ... .
Leased lines rental gold bonds (Cl. & :u.) ....... .
clo
do
(P. P., P. V. and 8. & A.) ..... .
N. Y. Pittsburg dl Chic.-lst M., gold ($18,000 p. m.)
N, Y. Prov. d! Boston-(Stoningtonl-Stock ...••....
First mortgage .....•.......... . ... ... ..............
1st mortgage . .. ......... . ... . ............. . ... . ... .
N. Y. Susqueh.cf: Western-Stock, com. ($20,000,000)
Preferred stock ($10,000,000) .................... .
New mortgage ($5 .500,000) .. ............... ..... .
:First m ortgage. ~Iidland of ~ ew Jersey .......... .
263
26:i
141
12
12
344
344
427
460
460
460
62
50
12
72
1847 $1,000 . $2,482,000
2,150,000
1879
1,000
4,852,000
1,000
1853
2,937,000
1857
1,000
709,500
1858 500 &o.
182,600
1861 100 &o.
3,000,000
1,000
1863
1.,000 16.656,000
1870
3,699,236
1.878 500 &c.
l:878 500 &o. 24,400,000
8,5!=17,400
1878 500 &c.
508,008
1678 300 &c.
2,000,000
1882
fl)
8,562,000
i876 1,000 9,000,000
100 15,500,000
isfa 1,000 2,000,000
1.000,000
1881
1,000
2,000,000
58,113,982
8,000,000
1880 500&c.
1880 &00 &c. 35,000,000
1880 500 &c. 14,500,000
1880 500 &c. 30,000,000
5,355,000
1872
1,000
3,568,000
1873
1,000
('I)
1881 500 &c.
3,000,000
100
1,000.000
1RG9
1,000
300,000
1881
1,000
8.060,tiOO
100
2,645,500
500,<-l<)O
i8Si 1:000
3,000,000
1 , 80 500 &c,
The New York & Erie . Railway went into the hands or 0, Receiver
in 1859, and in 1861 the Erie Railway was organized as tt.s successor. The .Erie Railway defaulted on i ts bonds in 1875, and wa,a sols
i n foreclosure under the second consolidated mort,,"'8.ge in 1878. The
present company wa,s or',anized and took possession J une 1, 1878.
Under the plan of reorgamzation the above statement represents nJJ. the
stocks and bonds issued to September 30, 1880. T he totol interest
charge eaoh fiscal year will be as· follows: 1880-81, $4.149,091; 188182, $4,149,091; 1882·8:i, $4,177,749; 1883·84, $4,235,065. By the
te1·ms of the 11lan one-half of t-h e stock, both common o.nd preferred, is
issued to" Voting Trustees" iu London, who shall vote on _thorn until
the divid end on the preferred stock (6 per cent) ha.a be.en pmu for three
consecutive years- The fumled coupon bonds are secured by
lien of coru;olidat.ed mortgage. The second funded coupon bonds are
5 per cents till June, 188a , and after that 6. On the sooond mortgage and
s-ecoml funded coupon no foreclosure can take place till six: coupons are
in default. The most prominent feature of the reorganization wa,a tJte
provision for outlay of new capital on the property, and up t-0 September
30, 1880, the cash from assessments of stock, &c., a.mounted to
$3,793.326. Preferred stock has a prior 1i~ht to 6 per oent (noncumula.tivei from the net profits. ·• a.s domared by the boa.rd of
directors.'' !'rices of stock have been as follows:
,------<Common.- - - - - ,---Preferred.------..
1 88~
1881.
1 88~
1881.
January.....
48 - 41 7 s
52 7s- 4738
7334. 6768
95 - 88
February.. ..
48 7 s- 44¾
50 7 s- 433.4
73 78· 70
!J2¼· 8218
March.......
4712- 43¼
4938· 4512
72¾· 68½
90¼· 84
.April . . . . . . . .
4658- 4112
48 58· 44&.i
7012· 68¾
89 - 84
May.........
43s4. 30¼
61 7s- 47
6558· 47
92¾· 88
June... . .. ...
4334· 30
50¼• 44¾
70~- 4 7
91¼· 86
July.........
4412- 38 7s
47¼• 41¼
7214· 64¾
88~· Su½
AugUBt......
4412· 3738
44 78- 4 ! 5s
73 - 65
• 88¾· 8118
September ..
4112· 3738
465a- 42
71~- 66
91 - 82
OctobPr......
45 14- 3 8 34
4-">12· 41 7e
76 - 70
88¾ 8412
November. .
49 - 4.·~18
4838- 4412
8212- 72
9ti¼· 8812
December....
515s- 4334 . ........ -... .....
9i!12- 77
................ .
T ho last annual r eport was published in the CrrnoNICLE, V 31, p. 587,
· 650.
~ operations and earnings for four yoars pa.st were a.a follows:
Yearend'g
Passenger
Freight (ton)
Gross ',l.'rafflc Not Tija fflc
Sept. 30.
Mileage.
Mileage.
Earnings.
Earnini:rs.
1878.... .... 140,326,749
1,224,761,438 $15,644,978 ff:5,009,114
1879. .. .. .. . 14!:),115,718
l,56ll,223,417
15,942.022
4 ,767 ,3 :.:3
1 880 ........ 180,460,20t
1,721,112,095
18,693,109
7.049.lM
1881. .. .. . .. 200,48a,790
1,934,39-1,85"5
20,715,60/S
'7,459,375
The company has receipts from other s01uces, and the total net mcomP
each yeo.r (adowing for full interest on tlle debt), as compared w1th the
annual charges , were as follows :
')'.ears.
Net Income. Int., Rent'ls, &c.
Surplus.
Doflcit.
1877-8........ 5,718,927
5.093,496
$625,4 31
$ . ........ .
1878-9 . . . . . . . . 5,204,770
3,888 ,664
1 ,816,106
1879-~0.... . . 7,833,140
fi.0-12,519
1,790,620
1880-81. ...... 8,303,681
6,416,263
1,887,417
-(V.31., p, 20, 68,122,171. 306, 4'i~i, 4i54, 559,573,587, 607,650,662,
.()73; v. 3i, p . 101, 1 ~3. 306, 553, 613, 68;;; v. 33, p. 58, 74, 101, 202,
329, 433, 588, 601, 62-2.)
New York & Long Branch.-Dec. 31, 1880, owned from Perth Amboy,
N. J., to Lon~ Branch, 2:i miles. It is leased to Central RR. of New
Jersey, .form.mg part of the Long Branch Division of thl\t road. In
Decewber, 1881, arrangement marle with Pennsylvania Railroad to use
the llnejointly, and the two companies guarantee interest on the new
bonds. Anthony Reckless, President, N. Y. City. (V. 83, p. 642.J
New York cf: New England.-Sept. 30, 1881, mile~e owned was as follows: Boston to Brewsters, N. Y. 190 miles; Providence to Willimantic,
58 miles; branches-Brooklino, Mass., to Woonsocket, R. I., :14 miles;
E. Thomptaon. Conn., to Southbridge, MasR., 17 miles; l slinE,rton to J)fldJ1am, Ma8s., 2 miles; Charles R. to Ridg-e llill, Mass., 2 miles; DoITance
Street, in Provi<lence, 1 mile; total owned, 304 miles. Leased-Franklin
to Valley Falls, 14 miles; Vernon to Rockville, 4 miles; Springfield toE.
Hartford, &o., 34 miles; total leased, 52 miles; tot1:1.l operated, 316 miles,
.Also leases the Norwich & Worcester RR., 66 miles. The extension from
:Brewsters to Fishkill on the Hudson River was completed Nov., 18 '3 1.
This was the Boston Hartford & Erie Railroad, which becamemsolveBt
and was succeeded by this comp11ny, formed in 1873. The Boston Hartford & E r ie's plincipal debt was the Berdell mortgage for $20,000,000,
which fixes the stock of this present company ($20;000,0001. In 1878-9
the compan y a99.uired the Hartford Providence & Fishkill Railroad by
the payment of its bonds. The new mortgage issued in 1879 was to pny
:for the extension of the road to the Hudson River. On Sept. 30, 1881,
there was $1,Hr<0,541 of floating dobt. Operations, &o., f or three years
past ware as follows:
Passenger
Frei~ht (ton) . Gross
Net
Years.
Miles.
:Mileage.
Mile~e.
Earning!?, Eru-nhli1?81878-9 •••.. ... 285
3o,lf>8 591
36,654,t:i69 $1,971,536 $486,329'
1879-t-0
. .. .• . 316
41,762,072
43,678,700
2, 324,940
628,!;56
1
1880-81 ......... .
. . . . . . . • . . . ~.692,374
691,651
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
llDII.
eonf"er a great Cavor ltJ' giving Immediate notice of' &nJ' error discovered In these Tables.
DESCRIPTION.
N. Y.
tVo:r,.
M. & N.
N. Y., Co.'s offloe.
7
M. & 8.
do
do
5
7
M.& 8.
do
do
6 g. A.. & 0.
do
do
J. & D .
do
do
7
J . & J.
<lo
do
7
J. & D.
N. Y., Co.a Office.
7
7 g. M. & B. New York and London.
7 g . .M. & S.
do
do
do
do
6 A'· J. & D .
5 g. J. & D.
do
do
6 g. J. & D.
do
do
J.
.r.
May 1, 1897
Sept. 1, 1919
Mar, 1, 1883
Oot. 1, 1920
June 1, 1888
July 1, .1891
Ja,lL, 1893
Sept. 1, 1920
Sept. 1, 1920
Doo. 1,, 1969
Dec. 1, 1969
June 1, 1977
iria.-ciei-;
Y.,
i>. & eo. Ja:n:;·i905
& J. N.Y., Grand Cen. Depot. Jan. 2, 1882
do
do
Ul<);-J
do
do
June 1, 1911
·&-·J.: N.
A. & 0.
J. &; D.
..6.g. M:&·s.
7 g. .r. & J.
London.ai:iit"New York. Maroli"i;·i895
do
do
July 1, 1905
.May 1, 1910
Nov., 1915
Jan., 1902
J an ., ·1903
July 1, 1921
Nov. 10, 1 881
July I, 1899
Apiil 1, 1901
6 g. M. & N.
do
do
6 g. M. & N.
do
do
4,5,6 J . & J. London, Co.'s Office.
2&o. J. & J.
do
do
6 g. J. & J .
New York Agency.
2
Q.-F. N. Y.,M.Morgau'sSons.
7
J. & J.
do
oo
4
do
do
A. & 0.
- (V. 30, p. 248, ~57, 544:., 545; V. 31;, p. 44, 6?, 1~3. 306,397, 57R, 605,
v. 32, p. 121, 33.>, 367, 4-0, 444; v. 3J, p. 12.>, 3~9, 588, 622, 64:0.)
N. Y. N. Ha-,en ct Hart/.-8ept. 30, 1880, owned from Harlem Junotion,
N. Y ., to Springfield, Maas., 123 mileH; branches to New Brltalnt. Middletown and Suffield., 18 m.ile.s; leas oo-Harlem & Portchester RR., .12 milea;
Shore Lin(;) RR., 50 tn.1les ; total operated, 203 mile,s. Thia wa.s a consolid a tion July 24, 1872, of the N. Y. & New Haven and the Hartl. & N. H.
railroads. The company uses the N. Y. & Har. RR. from Williamst>ridge
into N. Y. City and pays a large toll therefor. 'l'he company leruie.s the
Har. Riv. & Port. RR. and guarantee the bonds. · In April, 1881, a
controlling interest was bought in the N ew Haven & Northampton RR.
stock, by parties in the Interest of this oompany. Operations, &o., for
three years were as follows:
Passenger Freight (ton)
Gross
Net
Div.
Years. Miles.
Mileage.
Mileage.
Earnings.
Earningfl. p. c.
1877-8 .. 1 52 105,458,051 45,594,854 $3,817,281 $1,648,788 10
1878-9 . . 152 103,113,443 63.187,479
3,912,743
1,ff;0.8il2 10
1879-80. 152 125,300,345 78,372,806
4,252,814
1,653,565 10
- (V. 29, p. 510: V. 30. p. 15; V. 31, p. 509,671; V. 32, p. 42°I, 57b;
v. 33, p. 224, 56 J, 718.)
New Yot·k 01tlat·io & TVcstern.-September 30, 1880, owned from Oswego, N. Y., to .Midcllet-0wnt N. Y., 249 miles; branclies to Courtland,
N. Y.,48 miles; to New Bertin, 22 miles; to Delhi, 17milea; to Ellenville~ 8 miles; total operated, 344 miles. This was the New York &
Oswego Midland. Main line was opened July, 1871. Default was made
in 1873. and the property placed in the hands of Receivers Sept. 18.
l873. The Western Division was sold in foreclosure May 31, 1876, and
the main line wa.s sold in foreclosure November 14, 1879. The present
company was orp;anized January 22, 1880, and under the plan of reor·g-an1zation the holders of receiver's certificates took preferred. stook, the
llrst mortgage bondllolders t-0ok common stock for prinoipal _a.nd int,erest, and the holders of other old bonds, notes, judgments and ol8llll.ll
were permitted to take new Rtock at par on payment of 20 per cent
a.s.seAAmcnt in cash within 30 days from J a.nua,ry 22, 1880. Aud stoe-k:
was issued on payment or 30 per cent cash within Rix month.a from
Jan. 22, 1880, to tho bolde.J.'8 of old stook and oonvert.ible non--mort. b 'ds.
From those assessments about $9.00:.J,000 wns received, and in February, 1881, a cont:L;Mt was made with the .North River Construoti.on Co.
(capital $10,000,000) for completing a road to Bui:al<it. In Sept. 1881,
furthera~reementswere made witl1 the New York West Shore & Bufl'.alo
road. (V. 33, p. 358.) Preferred stock to r eceive 6 per o~nt (nou-ouumlative) from net earnings ; surplus goes t4' oommota. OperatioUB and
earnings for three years past were as follows:
Passenger Frei:zht fton)
Gross
Net
YearR .
Miles.
Mileage.
Mileage.
Earnin~s.
BM'Ilin~_s.
1877-8 ... . .. 344
5.579,976
12,701,830
$5(i0,020
$53,662
1878-9 . . .... 344
5 ,290,076
12,564,218
52:1,592
35,71,3
1879-80 .... 344
6,346,607
13,974,253
583,212
17,508
-(V. 30. p. 43, 92, 170,222, 2-U, 323, 38-l, 519. 589,650; V. 81, p . 95,
123, 282, 559, 589; v. 32, 11. 70, 101, 183, 206; v. 3 3, p. 358, 716.)
New Yo-rk Pennsylvania d'; 0.-Sept. 30, 1880. owned from Salamanca,
N. Y.i to Dayton, 0., 388 miles; branchos-Moodvill~1 Pa., to OU City,
33 mi es· Junction (main line) to Silver Crook, 0 ., 2 DlllCS; leased line&Cleve. & Mahon. RR., Clevelo.ncl. 0 ., to Pa.. Linc, 8 0 miles e.nd braneh,
t3 miles; Niles & Now Lisbon H.R., Niles to New Lisbon, 86 miles; Lib•
erty & Vienna RR,, Vienna Jtmction to Vienna, 3 miles: Ohio Line to
Sharon, Pa., 1 mile; Sharon R'y, Sharon, Pa., to main line..!'? miles; total
operated, 556 miles. Changed to sta.ndard f{auge June. lti80. Formerly
Atlautio & Great Western Railway. Sold July 1, 18711 _and leased to
Erie on Mav 1, 1874, but lease not carried out. ~ain
in hands
of a Receivei· Dec. 9, 1874. Bold Jan. 6, 1880, and reorganized b;r a
London committee of stock and bond holders. (See V. 30, p. 143.) F1v0
trusteos are to exercise tho voting power or the new stock until 1he third
mortgage bondholders r eceive 7 per cent Interest in cas.h during three
vears. Three of these trustees are to lie chosen annually by a mlli1or1ty
tu value of the first mort-ga,ge bondholders. oue by the second mortgage bondholders, and the firth by thfl leased line bondholders. Bee
V. 31, p. 607. The new bonds of the reorganized company, subseqUt'nt to the prior lien bonds, are issued upon the following basis:
(1.) The fl.rat mortgage l.Jonds to bear 5 per cent iuterest till January
1, 1881, and 7 per ceut therea.fter, whatever portion of this that
may not be. earned to be payable in d eferred warrants, to be capitalized in bonds of the s:uno class; pa.yment of interest to become absolute not later tho.n July 1, 1895, and until June 1, 1695, the right to
foreclose the mortgage is StlEpended. (2,) Second mortgage bonds t,e
receive 5 per cent per annum. aft(>,r prior mor~a,,,""08, fl earned. (3.)
Third mortgage bonds reoei ve 5 per cent interest, 1f ea.rued, after prior
bonds. On the seoond and third bonds th.ere is no right to aue tho comp any or to foreoloae.
The lease<1 lines' bonds of 1872 are to reooive 4 per cent for tbe
first three ye 1ra; o 1.er cent thereafter for six years, and 6 per cent
tllereafter until matui-ity. The leased lines' bonds of 1873 are .to l'tlceive the. net profits u-p t-0 7 per ce.ut 11.>ut not less than 2 par oont du1·ht.g
the first two years) ariain~ from the working or-the"Unea whose swurltios
are held by trustees. The stock 18-pref. share.s1 $10,000,000; oom. shares,
$35,000,000, Th6 annual report in V, 32 1 p . 333, g.a ve tb.o follawl.ng:
Subaorlben will confer a ::reat favor by giving Immediate notice oC any erro r discovered In these Tables.
Bonds-Prinoi•
INTEREST OR DIVIDENI>S.
DESCRIPTION.
Milee Date Size, or
Due.
Amount Rate per When Where Payable, and by pal,When
of
Par Outstanding
For explanation of column headings, &c., see not.es of
Stocks-La.st
Cent. Payable
Whom.
Road. Bonds. Value.
Dividend.
on first page of tables.
1{. Y. W.8h<»'e ~
Buff. -1st M., ~old (for $50,000,000)
N . Y. Woodhamm -~ Rockaway.-lst mortgage ......
N i~ara Bri.dge re Cananaaigua-Stock . . .... ......
Nor olk ~ Weste1·n..-Common stock . ... . ... . ........
Preferred (6 per oont) stock ... .... ......... ........
General mort., gold ................................
Norfolk & Petersburg--2d mort ...................
South Side-l at pref. consol. mort ................
do
2d
do
guar. Petersb'rg
do
3d
do
.................
Vir~a & Tennessee-Enlarged mortgage ........
o
do
4th mortgage . ... . ... .. ....
North Carolin~tock, common ....................
Preferred stook . . ........... ..... ...... ... ...... ....
Mort~i\,-,"'0 bonds .. ... . .... ....... ... .... ........ . ...
;{,yrth Pacific Ooast-Stock . . .. .. ... . ..... . ...........
North Pennsylvanui-Stock, g uar .. ... .. . ...........
~1\~~r:~i~::::::::::::::::
.:::::::::::::::::::::::
Gs11eral morti:ra~e bonds . ............... . ..........
Bonds secured by $1,200,000 stock .. ......... ....
Northe«St.ern .(S. V,)-Stock, common ... ..... . ... . ...
Pref. stock (8 per cent) exchangeable for 2d mort.
lat mortgage, new .................................
2d mortgage, new ... ..... . , .... .. . . .. . ..... .. ... ...
N ,n-therr1 (Oal.)-lst mortgage .... . .................
San Pablo & Tulare-1st mort ..... .......... ......
Narthern Oentral-Stock ....................•...•....
1st mortgage, State (Maryland) loan ...........•••
2d mortgage, sinking fund, coupon .... .... .... ...
3d mor~age, sinking fund, coupon .. ..............
Consoli a.ted mortgage, gold, coupon .............
Consolidated mortgage, gold, registered . .. ..... ..
C ansol. general mort., r:old, s. f., coup.,$ or£ ....
2d general mort., "A,' coupon ....................
do
"B." coupon, convertible .......
-. -16---188
1 $1,000
1879
....
98
.....
... .
....
....
. ...
....
428 iss·i
81
133
133
133
214
214
223
223
223
79
58
56
56
----
io2
1:000
1868
1,000
1866
1 ,000
1866 200 &c.
1866 200 &c.
1 854
1,000
1865
1,000
.... .
100
100
---·
'67-'68
500
.. ..
....
....
.. . .
.....
1881
----
50
500 &c.
500 &c.
. ....
··50
102
50
l'.02 iss9
500
102 1869
500
112 1877
47 1878
1:000
322
....
50
138
138 isr,is 500&c.
138 1865 500 &c.
138 1868
1,000
138 1868
1,000
138 '74-'77 1 ,000
138 1876
1,000
138 1876
1.000
(1)
·----
$1,000,000
1,000,000
3,000,000
15,000,000
6,000,000
496,000
703,000
581,300
452,800
990,000
1,000,000
3,000,000
1,000,000
210,000
1,074,900
4,527,150
1.930,500
1,500,000
2,569,500
1,200,000
899,350
86,000
820,000
236.000
3,148~000
1,023,000
5,842,000
1,500,000
1,490,000
1,126,000
2,599,000
205,000
4 ,580,000
2,962,000
1.000 ,000
5 g. J. & J .
7
J. & J.
3
J. & J.
......
. ...
New York.
N. Y .,Fisk & Hatch.
. ... .. ....
. ....... ...
July, 1931
1909
Jan. 2, 1882
. ... ....
·i;
8
M .. &..N . N. Y. and Piiiia.delphia. May·
.i931
J. & J. Not•folk,Va .,Ex .Nat.Bk. July 1, 189~
J. & J. N. Y., Nat. Park Bk. Jan. 1, '84.-'90
J. & J.
P eter sburg, Va.
Jan. 1. '84.-'90
J. & J.
do
do
J an.l,'96-1900
.J. & J . N. Y., Fourth Nat. Bk. July 1, 1884
J. & J.
do
Moh. 1, 1900
do
M. & 8. Company Shops, N. C. Sept. 1, 1 881
do
do
Sopt. 1. 1881
M. & 8.
M.&N.
do
do
Nov., 1888
1 34
6
7
7
Q.-F.
J. & J.
M.&N.
J. & J.
..(fg.
8
8
6
6
6
8
3
3
. .....
----
6
....
4·
M ..&..N.
M.& s.
M. & 8.
8
8
6
J. & J.
A. &O.
3
J. & J.
6
Q.-J.
6
J. & J.
A. & O.
6
6 g. J. & J.
6 g. A. & O.
6 g. J. & J.
J. & J,
5
J. & J;
6
6
Philadeiphla. Office.
do
do
do
do
do
do
. ... .... ... ..
............
Cbariesioii; Office.
do
do
Central Pacific RR.
do
do
Baltimore & Philadel.
Annapoli s.
Baltimore, lat Nat. Bk.
Baltimore & Philadel.
Baltimore, 1st Nat. Bk.
Baltimore, 1st Nat. Bk.
London & Baltimore.
Baltimore, 1st Nat. Bk.
do
do
Nov: 'z5·, .i881
Jan. 1. 1885
May 1, 1896
1903
·
....... .
-----·
Nov., 1881
Sept. 1, 1899
Sept. 1. 1899
Jan. 1, 1907
April 1 , 1908
Jan. 16, 1882
Irredeemable.
July, 1885
April, 1900
July 1, 1900
July 1, 1900
July 1, 1904
Jan. 1, 1926
Jan. 1. 1926
INCOME ACCOUNT 1880.
Total net income in 1880 from all sourcos ..................... $1,718,276
Out of which were paid fixed charges as follows:
·
Rental of equipment .... . .... ... ....... . ..•. .. ....•. $2133,614
Rental of all leased lines ......................•.. ... 356,277
Gene1'al expenses, taxes, &o..... . • . . . . . . . . • . . . . . . . . 60,879
in second mortgage bonds. D efault on consolidated bonds was made
October 1, 1873, and the road was sold in foreclosure Feb. 10, 1881, to
Mr. Clarence S. Clark, of Philadelphia, for $8,605,000, on b ehalf of
c::i,pitaJists interested in the Shenandoah Valley road. (See V. 32, p. 182).
The r eorganized oompa.ny i~ now the Norfolk & Western. The company issues $15,000,000 preferred stock, $3,000,000 common stock, and
$11,000,000 new mortgage bonds, to b e used accordin~ to the plan
published in the CHRONICLE, V. 32, p. 334, 421. Operations and earnings
700,772 for six years pa.st, ending June 30, were:
_Total payments .... ... .. ........ .. ... ····· ···· · ···· ·:·······
Passenger Frei~ht (ton)
Gr«;)SS
N.et
Miles.
Mileage.
Miteage.
Earrungs. E arrungs.
Net income for t11e year 1880 ....... .. .. ................... . $1,017,504 Years.
1875-6
.....
.
428
10,616,924
60,610,288
$1,742,251
$540,53j)
Deduct:
1876-7 ....... 428
9,531,442
67,531,874
1,791,579
600,633
Interest on prior lien bonds, due and accrued ..... $400,000
1877-8 ..... . . 428
9,470,228
70,797,576
1,781,710
486,889
Payments on account improvements and additions 96,344
1878-9 . .... .. 428
8 ,079,780
73,662,480
1,673,131 ·
612,043
Interest on firt!t mortgage bonds, $862,500 (one1879-80
.....
428
9,244,356
·98,595,455
1,936,641
943,413
hruf paid in casll), due January 1, 1881. .. .. ..... 431,250
1880-1. ...... 428
. . . . . •. •. . . .
. . . . •••.....
2,149,490
998,913
Total deductions........ . ....................... . ......... ..
927,594 -(V. 32, p. 182,334,395, 421, 501, 527, 569, 578; V. 33, p. 74, 357,
Snrplusfortbeyear ················ · · · ······ ··· ·· ·· ··'·····
$89,909 433,659,587, 687.)
- (V. 30..i p. 42,143,465, 494, 625, 650; v. :n, p. 68,153,534, 607; V
No. Oarolina.-May 31, 1881, owned from GoldsborotoCharlotte.N. ,C.•
32, p.3ii3; V. 33, p. 226,502, 588.)
·
223 miles. The property was leaaed Sept. 11, 1871, to the Rich. &Danv.
Railroad for 30 years at a rental of $260,000 per year. Dividends of 6
Ne·w York Pittslnwg ct: Chicago .....;This is the projected line from Red J.)er cent are paid on the stock, of which the State of North Carolina holds
Bank, Pa., to Huntington,. Ind., and to Chicago, forming a western con- $3,000,000, and the dividends thus received by the State are applied to
nection f or the Central ot' New Jersey. The company is building from her bonds issued to the North Carolina Railroad. (V. 29, p. 96; V. 31, p.
·
Wampum. Pa., to Marion, 0., 165 miles, and the whoie route trow New 482,589 ; v. 33, p. 99.)
York City to Marion, O., is expected t-0 be in cperation by Jan. 1, 1883.
North
Pacific
Ooast.-Dec.
31,
1880,
owned
from
Sauoolito
to
Moscow
Henry Da.y, N. Y., 1s trustee of the mortgage, an<t Gen. J. S. Negley,
Mills, Cal., 7 4 miles: branch to Sau Rafael, 2 miles; leased, San Rafael
Pittsburg, is Presid ent.
to San Quentin, 4 miles; total operated, 80 miles. Stock, $1,074,900.
•N. Y . Prov. ~ Boston.--Sept. 30, 1881, owned from Providence. R. I;, to Earnings in 1880, $275,203: net, $75,011.
Groton, Conn., 63 miles; Warwick RR., 10 miles; operates alsoPawtuxet
and Pontiac branch roads. 10 miles; total operated, 83 miles. Owns a
No. PennB1Jlvania.-Nov. 30, 1 880. owned from Pllila., Pa., to Bethlemajority interest in the Prov. & Ston. Steamslup Line, which has a capi- hem, Pa., 56 miles; branch es-J enJtint'n to D ela. River, 20 miles; L anstal of $1,400,000. For the fiscal year ending Sept. 1, 1880, annual dale to Doylestown, 10 miles; Iron Hill to Shimersville, 2 miles ; total,
report is given in V. 31, p. 51. Operations and earnings for three years operated, 88 miles. The Northeast Penn. and the Stony Creek roads are
past were as follows:
operated under contraot. The company h as b een doino- a fair business,
·
Passenger • Fr!3!~ht (ton) Gross
•Net
Div hut paying very moderate dividends, and in May, 1876, was leased for
990
years 'to the Philadelphia & R eading Railroad on tlle terms as stated
Years.
Miles.
Mileage.
.M.Ueage;
Earnings. Income. p. c.
in V. 28, p. 625, viz., that tlle lessees should pay in quarterly payments
1877-8 .... 63
17,858,442
10,405,601 $710,038 $398,116 10
(February
1, May 1, August 1 and November 1) $673,344 for each of the
1878-9 .... 63
19,377,410
11,467,971
689.008
318,656 8
the fu-st and second years; in the third and fourth yea.rs each $718,615.
1879-80 . . 71¾ 22,167,232
11,290,326
779,885
349,096 8
and
after
that
$763,887 per y ear. This is intended to cover all fixed
1880-81 · · 73
22,862,036
13,098,143
. . . .. . . .
3 55,245
8
charges of the lessors, and pay 6 per cent on their stock for two years,
* Including div. from Stonington Steamboat Co., and other receipts.
7 per cent for two years and 8 p er cent afterwards. (V. 32, p. 184.)
-(V. 31, p. 651; V. 32, p. 368; V. 33, p. 559, 715.J
Northe,astern. (S. 0.)--Sept. 30, 1880, OWJted from CharleRton, S. C., to
New York Susquehanna~ Wcstern.-Jersoy City to Unionville, N. Y., Florence, B. C., 102 miles. This company has earned the interest on it&
72 miles; O~densburg to Scranton, Pa. (building), .. 25 miles. This was bonds and preferred stock with a good surplus. In 1878-9 gross earn
a consolidation in Sept., 1881, of the Midland ol' N. J., the Pat~rson Ex- ings were $346,267 ; net earnings, $135,364; in 1 879-80, gross, $404,
tension, the North Jersey, the Pennsylvania Midland and the Midland 894; net, $185,659. (See last annua l r eport, V. 31, p. 651.) The pre
Connocting railroads. The lines when completed were to be continuous ferred stock is exchangeable for second mortgage bonds.
trom Bergen (Jersey City) to Scranton, P a ., but in Dec., 1881, reported
negotiations for selling to Delaware Lack. & Western. In addition to
N01·thern Oalifornia.- Dec. 31, 1880, owned from W. Oakland to Sui
above has $250,000 6 per cent bonds on Paterson Extension, due
1911. Stock authorized, oommon, $20,000,000; preferred, $10.000,- sun, Cal., 47 miles; extension, Woodland to Willows, 65 miles; leased
000. Dividends on preferred are cumulative. (V. 33. p. 255, 282, 716, San Pablo & Tulare Railroad- Martinez to Tracy City, 47 miles; total
operated, 159 miles. Completed in 1878 and leased in part to the
718.)
Central Paoiftc since J an. 1, 1876, at a rental 6f $1,500 per month fox
Northern
and $300 per month for S. P. & T. The Northern stook is
New York West Shore d Buffalo.-This is the oonsolidation in July,
H381, pf the West Shore & Buffalo, the Jerdey City & Albany and the $4,7 10,500, and San P. & T. stock, $1,861,000. W. V. Huntington
President,
San Francisco.
North River railroads. It is building (by the Norlih River Construction
-company) a line parallel to the New York Central to Buffalo, and oonNorthe.rn Central.-Dec. 31, 1880, owned from Baltimore. Md., to Stm
nootin~ with the road of the New York Ontario & Western. The New
Yor.s: terminus is through the new tunnel at Weehawken. (V. 33, p bury, Pa., 138 miles; branch-Relay to Green Spring, 9 miles; leased
Shamokin Valley & Pottsville RR., 28 miles; Elmira & Williams,v.ort
24, 226, 358, 528.)
RR. , 78 miles ; Chemung RR., 22 miles; Elmira Jeft". & Can. RR. 47milea;
N. Y. Woodhatien d Rockawa,y.-June 30, 1880, owned from Hunter's total. 322 miles. This was a oonsolidat10n or several roads in Jan:, 1875d.
Point,. L.
to Rockaway Beach, 12 miles~ branch to ,F ar Rockaway, 4 The terrus of the several leases will be found under the names of the lease
miles; to~ operated, 16 miles. By contract with Long Island RR. is roads. The company is under the management of the Pennsylvania RR
to control all travel to the Beach by rail. The stock is $1,000,000. (V. interest, and Mr. Geo. B . Roberts is President. The last annual report was
published in V. 32, p. 287, showing the application of income for the year
30, p. 494,559; V, 31, p. 229.) ·
1880, the earnings, &c. The consolidated mortgage (gold) of 1874 was
Niagara Bridge & Oanandaigua.-Oct. 1, 1881, owned from Canan- for $10,000,000 to retire all prior bonds ; the bonds ·are issued as series
daigua to Suspension Bridge, N . Y., 98 miles. The road is leased in "A" and " B" $ or £, series " C " dollar and the " million doll?,r" loan
perpetuity to the New York Central & Hudson at $60,000 poc annum. Uncler the general mortgage of 1876 $1,000,000 more may be issued as
Series C. Operations and earnings for fl ve years past were as follows:
Has no debt, but prior to foreclosure mortgages were $2,170,000.
Passenger Freight (ton)
Gross
Net
Div'd
N orfolk~ Westcrn.-Ap,r il, 1881, owned from N orfolk, Va.. to Peters- Years.
Miles. Mileage.
Mileage.
Earnings. Earnings. p. ot
burg, Va., 81 miles; Petersburg, Va., to Lynchburg, Va., 123 miles;
........ 322 43,401,086 253,552,485 $4,369,926 $1,333,440 3
Lynchburg, Va., to Bristol, 204 miles; branches-Petersbm·g to City 1876
.. . ...•. 322 25,726,768 277,752,734 4,070,388 1,324,463 •.•
Point, Va., 10 miles; Junction t o Saltville, Va., 10 miles; total oper- 1877
1878
322 24,122,837 280,236,742 3,723,457 1 ,118,960 .••
ated, 428 miles. This was a. consolidation, N ovember 12, 1870, of 1879 ........
.....• 322 25,888,514 404,192,761 4,107,948 1,246,006 ••.•
}!orfolk & Petersburg, South Side and Virginia & Tennessee; in all, 1880 ..
........
322 29,880,642 461,904,456 5,050,387 1,795,119 2½1
with branches, 4.28 miles. In all these routes the State of Virginia
held the oontrolling interest, and sold out to the oompany for $4,000,000 - (V. 31, p. 329,673; V, 32, P, .121, 230,232, 28'7, 578,
ri
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Snb11crlben will conCer a great Cavor by gl-vt.ng Im.mediate notice of ant· error dlseovered In the11e Tablea.
DESCRIPTION.
For explanation of column headings, &o., 8ee notes
on first page of tables.
Northern Central (Mich.J-lst mortgage ... .. .. .. .. .
Norttier-n. N. H.--Stock ......•.......•..........••....
Northern of New Jersey-Stock .................•...•.
1st mortgage, exoonded ................•..•.•.....
2d mortgage . ........... .. . .. .. ....... ............. .
Northunl'acijic-Pref. stock(8 p. c., not cum•tive).
Cc,u.ullon stock ...................................... .
Mortgage and land grant bonds, Missouri Div ... .
Mortgage and land gr. bonds, Pend d'Oreille Div.
,Consol. M. ld. I{, gold, $25,000 p. m., coup. or reg.
Northwestern Ohio-Stock ........................... .
Norwich d: Worcester-Stock ......................... .
INTEREST OR DIVIDENDS.
!Bonde--PrinciMileB Date Size, or
Amo t
.
pal,When Due.
of
of
Par
O tstan~g ·Rate per When Where Payable, and by St&Ck8-LMt
u
Cent. lPa.yable
Whom.
Dividend.
Road. Bonds Value.
61
8219
~l.
21
21
720
205
209
850
79
New bonds, coupon ...... . ............... ... .. .... .
.66
figdensbm·g d: Lake Ohamplain-8t-ock ...•... ..... .
118
Sinking fund bonds ................................ .
Mortgage oonds (redeemable .July , 1890) ........ .
Consolidated mortgage (for $3,500,000) ......... .
Income bonds, not cumulative .. .. ................ .
()hio-Stock ($20,000 ,000 antholized) .............. .
Cin. Ham. & D:1y., 2a mort. (now 1st) . ......... . .
do
Cons. M. ($996,vOOare 7s) a.f. 1 p.c
do
Cin.H.& l. (June.) RR., lat M., guar
Cleve. C. C.&I., lstM.(C. C. & C. RR.) $25,000a yr.
do
1st mort., Bel. & Ind . . .. ........ . . .
do
1st ruort., C., C., C. & I. sink. fund
clo
Vons. M. for $7,500,000 (s.f.1 p.c.l
Ohio Oenh-at,--- lst mortO'age gold ......... . ......... .
Income bonds (non-cumulative) ............ .. .... .
Terminal mortg1!ae bonds . . ... ... . .... .... . ·... .. . .
i~~;:1~~;• MineJ
0
Div._·.·:.·.·.·_-_-_-_-_-_:::::::::::::::::
Chio d: Mississippi--Stock, common .. ..... ..... . .. . .
Preferred stock (7 p. c. yearly, cumulative) ..... .
Income arni funded debt bonds ................... .
lat consolidated mort. ($3,44;;,ooo a.res. f.) ..... .
Co:c~olinated mortgage, sterling .. _... .. .......... .
--....
. ...
ii"s
118
i878
1869
....
i879
1879
1880
....
i877
isfo
1877
1880
1880
·--.60 is65
60
98
138
202
390
390
200
200
200
26
26
393
393
148
393
393
1875
1873
1860
1864
1869
1874
1880
1880
1880
1881
1881
....
i862
1868
1868
$1,525,000
7
$ ..•.
100
3,068,400
3
1,000,000
100
..
6.
100 &o.
200,000
200,000
100 &c.
7
100 4~,312,588
100 49,00U,000
..6.
2,484,000
100 &c.
3,915,000
6
6g.
1:000 20,000,000
~.000,000
..5.
2,604,400
400,000
6
1,000
100
3,077,000
2
371,000
1,000
8
1,000
600,000
6
1,400,000
500 &c.
6
100 &c.
1.000,000
3&6
....
100 18,500,000
494,000
7
1,000
2,450,000
1;000
6 &7
1,800,000
7
1,000
75,000
7
500
1,000
396,000
7
3,000,000
1,000
7
2,774,000 7 or 6 g.
1,000
3,000,000
6 g.
1,000
3,000,000
7
1,000
600,000
1,000
6
6 g.
300,000
1,000
300,000
7 g.
1,000
100 20,000,000
--3½!
4,030.000
100
1,000
174.000
7
1,000
6,688,000
7
112,000
6 f!.
£200
....
·ioo
Northern Central Ofichigan).-J'onesville, Mich., to Lansing, Mich., 61
miles. Owned by the Lake Shore & Michigan Southern Railway Com•
pany. Stock, $610,000. S. V. Irvin, Pre8ident, Albion, Mich.
N01·thern, N. H.-From Concord, N. H., to West Lebanon, N. H., 70
miles; branch, Franklin, N. H., to Bristol, N. H., 13 miles; total, 83
miles. This road ha.s done a. steady, but slightly decreaaing,- busin.esa
o.uring the past four years. The last annual report was published in the
CHRONICLE, V. 32, p . 611. The net earnin~s for the fl.8cal year en(ling
March 31, 1881, were $102,223; in 1879-ljO, $1 12,438, and in 1878-9
$107,372. Prior to that date, earnini?s were considerably larger. ((V.
28, p. 552 ! Y. 30, ll, 599; V. 3~, p. 610.)
Nortl1ern of New Jerscy.-From Bergen, N. J., to Sparkill. N. Y., 21
miles. The company operates an extension to Nyaek. called the Nyack
& Northern Railroad. This r oad was opened Oct. 1, 1859. By contract
of April, 1869, it is operated by New York La.lee Erie & Western at 35
per cent of it.s gross earnings . It is understood the contract is terminable by either p arty on notice. Gross earnings in 1880 were
$246.771 (V. 30, p. 566; V. 32, p. 611.)
N01·tliern Pacijic.-J'une 30, 1881, operated from Duluth, Minn., to Bi.smarl,, Dak. Ter., 450 miles; branch, Casselton to Blancha.rd, 32 miles;
Pacific Division, Tacoma to Kalama, l u5 miles. and Tacoma to Wilkeson,
31 miles-136 miles; total, 618 miles and 311 miles n:ore just finished.
Owns one•half St. Paul & Duluth RR., 24 miles, and uses 75 miles of St.
Paul Minn. & Man., St. Paul to Sank R apids, and leases Western RR.,
auk Rapids to Brainerd, 61 miles; total operated for business, 754
miles. The gap be.tween Mo. Div. and Pend d'Orielle Div. is 820 miles.
Tltis company waA chartered by act of Congress July 2, 1864, to build
from Lake Superior to Puget Sound, 1,800 miles, with branch to Portland, Oregon, 200 miles. The land grant was 20 sections per mile in
States and 40 sections in Temtories. The company defaulted J anuary,
1874, and the road was foreclosed August 12, 1878, and reorganized by
tbe bondholders' committee Sept. 29, 1875. To the bondholders n ew
preferred stock was issued at the rate of $1,400 for each $1,000 bond.
l'ref. stock is enHtled to 8 per cent, uot cumulative; then common toi
8; then both share.
-- ,
Of the above pref. stock $2,851.455 w~a owned by the company
June 30, 1881. This preferred stock is taken in payment for the company's lands east )f the Missouri River at par (3,47~,471 acres), but bas
llO lien whatever on the road; the Missouri Div. bonds and P end
d'Oreille Division bonds are r eceivable for lanils on those sections. In
1880--8 1 the sales of land east of the l\1 iasom1 River were 588,080 acres,
for $1.805,368, an average of $2 59 per acre.
A syndicate in November, 1880. subscribed for $10,000,000 new conolidatcd .mortgage bonds, with privilege of takinis $10,000,000 more
tal'J'y for next three y{ ars, to finish the road, and they took and sold
f<J,000,0< 0 of th e bonds in J «n ., 1881. The mortgage is for $25,000
per mile of road, Central Trust Co. of N. Y., trustee. The bonds itre
l'eceived in payment for la nds at 110 and interest, and proceeds of land
sold must be applied to purchase of these bondA at 110 and inter est.
Sinking fund of one per cent per :rnnnm b~ms in 18Sfi.
In February , 1881, parties interested in the O reg<>n Navigation &
Railroad Co. pm·chased a controlliug inter est in the stock ; the 180,000
'3hares of common stock never issued aiuce r eorganization w,~re partly
distributed. Th3 la~t annual r epo1·t is in V. 33, p. 302. (V. 3 1, p. 68,
95, 230, 356, 358, 397, 454 , 5~5, 560. 579, 589 ; v. 32. p. 4, 44, 121,
iit232, 313, 323, 335, 368, 836, 421 , 553, 569, 687; v. 33, p. 154, 588,
1903
.&i>.
Boston, Office.
Deo. 1, 1881
New York, Office.
(1)
J ..&.. J . J. City, Hudson Co. B'k. July, 1888
J.
M. &8.
....
do
do
..... --...
March, 1889
New York Offloo.
do
do
do
do
May·1;·i919
·- .. ·--·
0
M."& N.
M.& S.
J. & .J.
Sept. 1, 1919
Ja.n.1, .1921
J •.&.. J. Boaton,. 2d National.Bk.
M.& s. Boston, N. E. Truat Co.
J. & J .
Boston, Otlice.
.M. & 8.
do
J. & .J.
do
A.. & o.
do
A.. & o.
do
wfnsiow:L.
Ju.i.i
"iss5
Oct., 1905
.Jan., 1903
June,'8 :..: to '84.
Until 1899
May, 1899
June 1, 1914.
Jan. 1, 1920
Jan. 1, 1920
.July 1, 1920
July 1, 1921
July 1, 1921
New·Yoi-ir:o·fflce .
do
do
do
do
London.
Mar·_- 1,..i875
April 1, 1882
Jan. 1, 1898
Jan. 1, 1898
.J. ·&-·J . N. Y .•
& eo.
A. &O.
do
do
J. & J.
do
do
.J. &D. N. Y ., U. 8. Trust Oo.
.J. & J.
do
do
M.&N.
do
do
J. &D. New York or London.
J. & J. N.Y. Metropolitan N.Bk
do
do
J. .&.. J.
do
do
J. & J.
do
do
.J. & J.
do
do
M.
A.
.J.
J.
.......
& s.
& O.
& .J.
& J.
i'o;
July
·is81
-M arch 1, 1897
July 10, 1876
Mar., 1890
1897
April 1, 1920
April., 1920
·20:
Passenger
F~!ght (ton)
Gross
Net
Years.
Mi.l.Cil..
Mileage.
M.1leage.
Earnings. Earnl.n.!rs.
1877-8 ... .. . 122
3,369,125
24,534,667
L$542,670 $144,326
1878-9 ... .. . 122
3,645,831
22,439.4u5
472,112
104,890
1879-80 .... 122
3,769,830
28,037,W9
558,816
170,917
1880-Sl. ... 122
. . . .. . . ...
..........
578,676
195,476
-(V. 31, p.171, 358,429,484, 560; ·V. 82, p. 70, 12'.!, 65'7.)
Ohu>.-Thia was a consolidation Sent., 1881, of the Cleveland Col. Ci 11.
& Ind. and the Cin. Hamilton & Dayton, on the oasis of share for eha.re
in the new company. At Columbus, Ohio, Oct. 19, the Jewett party
beg~n a suit and procured a temp-0rary injunction to prevent the final
consolidation. Tlle Vande.r bllt party, however, decided to prooeed with
the election of directors of the Ohio Railway, contending that the articles cf incorporation having been fl.led prior to the application for au
injunction, the order e:,njoining the Clev. Col. Cin. & Indianapolis and
the Cincinnati Hamilton & D ayton direotors does not concern the Ohio
Railway. The total vote cast was 8!),615 shares. There was but one
ticket voted as follows : Messrs. William H. Vandcttbilt, Cornelius Vand erbilt, Au~ustua Sche ll, James H. Rutter and A.G. Dulman of New
York; William L. Scott of Erie, Pennsylvania; J. H. Devereux, Stevenson Burke, T. P. Handy and AmosTownsendof Cleveland ; John Newell,
M. E. Ingalls and John Carlisle.
The Cincinnati Hamilton &Dayton own ed from Cincinnati, O., to Dayton, 0., 60 miles; leased-Dayton & Michi~an, Dayton t-0 Toledo, 14i
miles; Cinciuna.ti Hamilton & Ind., Hamilton to Indiana.polis, 98 miles ;
Cinc.innati Richmond & Chica.go, Hamilton, 0., to Indiana state line
(and leased road), 42 miles; tot1:1.l operated, 341 miles; eaoll lease re•
ported separately.
Earnings of Cin. Ham. & Day. for five years past were as follows,
including all the roads operated :
Years.
Miles.
Gross Earnings.
Net Earnings.
1876-7. ...... .. . . . . . . .. . . . 341
$2,431,874
$5:>d,062
1877-8.. . .... . ........ .... 341
2,362,892
760,66G
1878-9 ....... .. ........... 341
2,282,572
7 :·m .~72
1879-eo..... .. .•..... . .. . 341
2,578,816
886,050
1880-81 ...... ·'·........ . . 341
2.882,306
906,983
The Cleveland C9lumbu.s Cincinnati & Indiana.potla owned from Cleveland, Ohio, to Columbus, Ohio, 138 miles; Ga.lion, Ohio, to Indianapolis, Ind., 2-03 miles; Delaware, 0., t-0 Springtield, 0., 50 mile6; leased,
Cincinnati & Splingfield Railroad; 80 miles; Levering Station to Mount
Gilead, 2 miles; total operated, 473 miles.
'.rhe la.st annual report o.f the C. C. C. & I. Co. was published in the
CHIWNICLE, V. 32, p. 418. Incomeae-count for four years was as follows:
1877.
187tl.
1879.
1880.
Receipts$
$
$
$
Net earnings.........
514,591
745,203
982,748
1,361,483
Rentals and interest-.
149,420
liJ2,696
83,912
102,,1 06
Day.& Un.RH.st'k,&o
... ...
. .....
.. . ...
69,027
Wabash P ool.. .......
. . . . ..
.. . ...
. ... . .
46,378
MiscellaneoUB . . . . . . .
Tota.I income . ....
Disbu ,·sernen(s-
......
. . . . ..
--------664,011
8-17,899
Iuterest on d ebt .. ... .
Taxes .. ... ..... ..... .
Dividends . .......... .
Accounts charged off.
$
4.2(i,878
175,232
103,744
-----
$
420,037
140,020
. . ..... .
66,429
19,750
1,086,410
$
425,180
11·7 ,014
374,770
47,864
8,000
-1,587.294
--~
4-W,492
1 L8,188
749,540
-16,437
Northwestern Ohi-0.-Dec. 31. 1881, owned from T oledo Jnnction to
Total disbursem'ts.
705,854
*626,536
•964,828
1,324.657
Toledo. 0 .. 79 miles. Thia was a consolid ,tion of the Tol. Tiffin & East. , B alance
. ... . ... ...... Def.41,843 Sur.221,3u3 Sur.121,582 Sur.2<.i2,637
'1Je .Mansfield Coldwater & L. M, and the Toledo & Woodville roads. -(V.
33,
p.
73,
100,
281,
468,
502,
G:23.)
Leased to Penn. C11rupany at cost of operating. In 1880 gross ea1'Ilinga
Ohio Oentral. -The road completed will 00200 mllea-Oorning, O., t.o
~276, 165; net, $49,67u.
.
Norwich cl: Worceste1·.-Sept. 30, 1881, owned from Norwkh, Conn.,
to Worcester, .Mass., 59 miles; branch: Norwich to Allyn's Point, 7
miles; total, 66 miles. In 1869 the road was leased to the Boston Hartford & Erie for 100 years, the l essees to pay all liabilities and 10 pe.r
cent on the capital stock. Ther e has been sOllle discuasion as to reducing the rental, and the present lessee company ha.a the option to terminate t1l.e lease, and now operates under temporary agreement (see V. 28,
p. 200). Earnings, &c., for fom· years past have been as follows:
Oross
Net
Total
Interest
Y ears.
Earnings.
Earnings.
Revenue.
& Div'ds.
876-77 ........ . $716,(,35
$315,107
$416,243
$309,22!)
877-78 .. . . .. . . . 666,883
269,779
312,095
283,764
878-79 . .... .... 666,830
274,457
741,316
283,809
879-80 ......... 707,581
291 ,390
404,715
283,905
--(V. 27, p. 537; v. 28, p. 200.)
· Ondensburg cf; Lake Ohamplain.-March 31, 1881, owned from Rouse's
Point, N. Y., to Og densburg, N. Y., 118 miles; branches, 4 miles; total,
1~2 miles. The earnings of the road having decreased of late years,
in .Januar y, 1880, the executive committee issued a eircular proJlOSing certain terms of adjustment (see V. 30, p. 1181 14.4), which have
been substantially carried out. Operations and earruil.gs for lour yen.ra
JlO.St were as follows:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Toledo,O. The stock was $4,400,000-par$100-and in .January, 1881,
t he company increased it to $ L2,000,000 for improvements, &o., and to
buy the stoek of the Ohio Cent. Coal Co. lei June, 1881, con~lidation
wiUt the Rich. & Alleghan v. wae voted, ancl new s'to<lk and bonds <'r,
extension w ere subscribed. (V. 31, p . 358; 535, 607; Y. 32, p. 70, 579 ;
V. 33, p. 12, 48, 154, 20~ , BOfl, 589, 716.)
Ohio d: Miss-iss-ippi.-Dec. 31, 1830. owned from Cincinnati, 0., to Ea8t
St. Louis, Ill., 340 miles ; Louisville branch, North Vernon to J effersonville, Ind.'---53 miles; total Ohio & Miss. line, 393 miles; the Splingfl.eld
Division, tieardstown to Shawneetown, Ill., l!22 miles; total operot.ecI.
615 miles. The Eastern and Western divisions were sold in foreoloaure
a.nd the present Ohio & Mississippi Company consolidated November 21.
1,..67. On Novembe1· 17, 1876, the company was placed in th,e hands ot
R"'ieivers, and afterwards Mr. .John Kine;, .Jr., of the Baltimore & Ohio
RNlroad, was appointed sole Receiver: m Oot., lfl81, John M. Douglas
was appointed Receiver, trice King, retJ.gned. A suit is pending, brought
to ,tnnul the purchase of the Springfield Div. in 1875 as fraudulent and
•·oid. •.rhe various r,hasea of litigation in re~al"d to thi.s company ba-v&
been reported. from time to time in the CHRONICLE. There are yet
$97,000 of old first mor~..-e 7a, Western Division, outatanctiu11. Pref.
stock ba.s prior r~ht t.o a eumulative dividend or 7 P4ll' cent before
any dividend sha.l'l l)e pa.id on com. ; after paym~nt of 7 per eent for a1iy
one year on com., the surp.l.ns of that year (if any) ahaJl be d1vided.
between. both o.lAases. Operations and earnings fQr four .rears pa.st:
Sub•crlben will eonf'er
~
greai Cavor by giving Immediate notice oC any error discovered ln these Tables.
INTEREST OR DIVIDEIITD!:i
· jjmutlf-l-'111 C.
Miles Date Size, or
·~· ~;pal,'W-ium Dt •
For explanation of column headings, &o., see notes of
of
Par outat~~g Rate per ' When ,\Where Payable, and by Stocks-Last
on :first page of table&
Road. Boud11 Vaine.
n
Cent. P ayable
Whom.
Dividend.
DESCRIPTION.
Qh,io ti Mississippi-( Oontinued)-
-
2d consolidated sinldna fund mortgage ...........
Debenture sinking tun bonds (for $1,000,000) ...
Spring. Div. (Sp.&ill. SE.l l11tM. (for $3,000,000}.
Oh-w Southern-1st mort. ($15,000~r mile) ........
2d mort., income ($15,000 per m · e) .......•.......
Ola (lolony-Stock .. ... ...... . .... .... . ..........•....
Bonds(not mortgage) coupon . ... .. .................
Bonds
do
do
and registered .... .
Bonds
do
do
do
····do
do
......
Bonds
do
Bond~
do
do
do
Ore_q on cf Oalifornia--lst mort.,gold .......... :::::
Orerni Oentral-lst mortgage ..... . ..... . __ . ..... _..
~t~
0
moi-i:; ianci.grant; goici:::::::::
,;eg~
iiit'
Oregon Slwrt Line-1st mortgage . ................. .
Os.,.;ego d; .Rome-1st mortgage guaranteed ...... . ..
In:x,me mortgage bonds .... .................. .. . ..
Osu:ego & Syracuse-Stock, 9 per cent guar .........
Mortgage bonds . ..... .. . . .. ...... . .................
Consol. mortgage (guar. D. L. & W.) . ........ .. ...
Paclucah <i: Elizaoethtown-lst mortgage ............
2d mortgage, income ...............................
Painesville <i: Yo-nngst01cn-lst mortgage . . _........
2d mortgage. incom~, convertible . ... ............
Panama--Stock .. .. .. . . .••. .••. .. . ....... , .. • . . ..•. .
General mortgage. sterling, (£1,000,000) ...... ...
Binking fund subsidy, gold ........................ .
- -·
393
228
128
128
455
....
....
....
....
306
48
.... .
....
28½a
0
35
35
is·6
186
65
65
48
48
48
Passaic <I: .Dclaware-8tocK ..........................
15
Paterson <i: Hiidson--Stoc-k . . _......... . ...... __.... __
15
PatersonNeu,ark<i:New York-1st mortgage........
11
Pennsytva,iia--Stock . .... ..... ........ .. . ............ 1,669
Gen. M., Ph. to Pitts., coup., J. & J.; r ~ A. & O.
Btatelien (pay'blein aunualinst'lm'ts of 60,000)Consol. M., coup. J. & D., & reg. Q.-M. 1s. f. 1 p. c.) . ...
I
--- - - - - - - - ---1871 $1,000 $3,832,000
1873
1,000
140,000
1874
1,000
2,019,000
1881
1,000
l,9i0,000
1881 · 1,000
1,920,000
100
7,533,800
isi;'.t lOOO&c.
32,000
1874
1,000
1,692,000
1,000
1875
500,000
1876
1,000
1,100,000
1,000
1877
2,000,000
1881
1,000
6,000,000
......
. .....
4,395,000
300,000
-----··
188-0
1.000 25,000 p . m.
1,000
(16
is<>i5 1,000
35 ,000
1866
1,000
200,000
50
1.320,400
58&64 500 &c.
124,000
1,000
1876
338,000
1,000
299,994
1877
1877
1.000
1,14 1,200
1879 500 &o.
400,000
1879 500 &c.
1,000.000
7,000,000 ·
100
£200
3,989,000
1880
1,000
2,!4551000
i867
....
.....
....
.... i870
....
i873
. ....
. ... .
··:~o
1,000
1:000
Years.
Miles.
Gross Earnings. Net Earnin~.
1878 .. .. . . . . . . . . . . . . . . . .. . . . . . . . 615
$3,136,836
$364,548
1879.. .. . . .. . . ... . . . . . . .. . ... . .. 615
3,502,239
1,051,419
1880. . ... . ...... . .. . ... ......... 615
4,376,310
1 ,256,709
1831 (to Aug. 31).............. 615
2,649,949
540,092
Various back coupons were paid in 1880 and on July 1, 1881, there remained four coupons overdue on 2d mortgage, amounting to $536,480•
and :five coupons on Springfield Division bonds. $351,575. rv 32. p. 16,
156,229.356, 578, 659, ti86 ; v. 33, p. 74, 202, 275, 30-1, 358, 38-5, 41~,
442, 5ti0, 643.)
Ohi o Southern.-This company, in its statement to the New Y0rk
S.took Exchange, June, 1881, says that the corporation is organized
11Dder the laws of the State of Ohio. The road runs from the city of
Springfield, in the county of Clark, in the State of Ohio, to the vill.~e of
Uockwood on the Oliio River. Length of road completed and in operation: Springfield, Ohio, to Coalton, with extensions and branohes now
~wrnplete.:!, 128 miles. Stock (par $100), $3,840,000. B. S. Henning,
President. (V. 32, p. 637; V. 33, p. 441.)
Old 06lony ( .Mass.J-Sept. 30, 1881, owned from Boston to Provinoet-own, Mass., 120 ILiles, and lines to KingRton, Plymouth a.nd Somerset
June._, M~s., and to Newport, R. I_.; totfl:l, 249 miles; nmneron~ branches.
52 miles m all; leased-B08ton Clint. Fnchb. & N. B., 125 miles; Framinghf1m & Lowell RR.. 26 miles; Dore nester & Mil:ton RR., 3 llliles; total
length of all lines, 4.55 mlles. The Cape Cod RaiJ.road was merge<! !.n
this October 1 1 1872. In Deoember, 1878, a contra.ct of lease was made
with the Boswn Clinton Fitchburg & New Boo.ford for 999 yen.rs, the
Old Colony to operate that ron,d and pay as rental 1023 per cent of the
gross earnings of both roadti. The last ::mnua.1 report wa,1:1 il1 . the CHBONICLE, v. 33, p. 52,).
Operations and earnings for fl. ve years past were as follows:
Pa6senger Freight (ton) Grosa
Net
D iv.
Years.
Miles. Mileage.
Mifeage.. Earnings. Earnings. p. ct
1876-7 ..... . ... 290 50,628,616 21,387:713 $2,174,884 $720,711 6
1877-8 .... _ .... 301 58,245,895 18,446,3<Y7 2,<Y77,616 703,278 6
1878-9 .. ... ... . 45:J n,805,238 42,450,366 2.798,029 1,090,799 .. ..
1879-80
453 89502519 51169628 35187691201647 6
·· ······
'
'
•
'
' · '
·
·
188~81. ....... 455 89,187,583 53,794,401 3,746,4481,.246,846 6
-(V, 29, p. 537; V. 30, p.15; V. 31,p. 533; V. 32, p. 44; V. 33,p. 525.
1
m1rcaeff~;es~ ~f/ti~v:~-;~Wm Je.~~fEili:~~~~a.i~i~~~h , %R~1?:~ll'!f1,;~S
0
- ()
630,000
500,000
77,672,750
19.999.760
3,833,0n6
28.610,540
7
7
7
6
6 ,
3
5
A. & O .
M.&N.
r.;1:.&N.
J. &D.
J. &D.
J. & J.
M.& 8.
M.& s.
7
6
6
6
~ g.
7
6 g.
6
7
7
4¼
7
7
J. &D.
M.& 8 .
F. &A.
A.
di;
0.
.....
A.·&·o.
April, 1911
May 1, 188:J
Nov. 1, 1905
June 1, 1921
June 1, 1921.
. Jan. 2, 188~
Sept. 1, 1884:
March 1, 1894.
June 1, 1895
Sept. 1, 189&
AU~. 1. 1897·
July l, 1921
Jul{ 15, 1891·
----······
Mc . 1, 1900
New Yo·1:k. and. London. Out. 1, 1900
New York, Office.
do
do
do
do
New York.
do
Boston, Office.
do
do
do
do
do
New York.
l\I.&N. N. Y.,Farmera; L.&T.Co.
F. & A.
do
do
F. & A. N. Y., Del., L. & W. RR.
l'rI.& N.
do
do
M.& s.
do
do
F.& A. N. Y., Ex. Norton & Co.
April.
do
au
7
J. & J. New Yorlr, Agency,
J. & J.
7
do
do
"6
Q.-F.
New York, Office.
7 g. A. & 0.
Loudon.
6 g. M.&N.
New York.
~
. ",iig
----
May,..i9i5
Feb., 1891
Aug., 1881
1880 & 1895'
1907
Feb.1, 189?'
Feb, 1, 189-7
.Jan. 1, 191()
Jan. 1, 1915
.Jan. 3, 188Z
'84 to ' 1'! 9 &•9 7
Nov. 1, 1910
New.Yo1:ir.
Juiy·2;·is8t
· ··· -•··
M. &N. Philadoiphia:,· Office. Nov. 30, 1881
Q.-J. Philadelphia & London.
1910
A.. & o. PhiladelpWa, Office.
Annually.
Q..-?tl. Philadelphia & London . .Tnue 15. 1905
J. & J .
. .. .
7
4
6
5
6
Panama.-Deo. 31, 1830, owned from Aspinwall to Panama, 48 mileir.
Opened through January 28, 1855. This road had a practicu.l mono_pol.T.
of the Cn.liforr.iia business till the opening- of the Pacific Railroada in
1869. Of the first mortgage bonds $1,000,000 fall due in ten ha.lfyearly payments beginning 1884 and b rilance ($2,9-89,000) in October.
1897. The $3,000,000 subsidy bonds are secured by a pledge of the
sum of $225,000 annual subsidy payable to the U. B. of Colombia. by
the company. In June, 1881, most of the stock was sold to parties
interested in the de Lesseps Panama Canal Co. Tue report for 1880 waa
in V. 32, p. 393, and the inoome acooun~ for four years as follows:
1877.
1878.
1879.
. 1880.
Reccipts$
$
$
$
Net earnin#rS .. .. .. ... ...... 1,230,420 1,227,292 1,202,144 1,014,630
Rentals :i.nd interest, &c.. .. 149,937
196,269
254,392
264,230
Discount on subsidy........ . . . . . . . .
........
........
166,667
Otheueceip~. _... ... . _... . 163,294
158,887
195,213
184,185
Total income . ....... .... 1,543,651 1,582,448 1,6[;1,749 1,G29,71Z
Disbur1Jerrwnts--
$
Interest on debt .. _.......... 209,468
Drawbacks on produec. .. . .
12,500
Divi«leuds . ...... . ..... __ . . . 840,000
Subsidy to U.S. Colombia... 250,000
23i,88!')
12,932
840,000
250,000
$
$
270,853
270,747
9,931)
6,706
910,000 1,120,000
250,000
250,000
Total disbursements ... . 1,311,:168 l,3-!i,821 1,44.0,792 1,647,453
Ilalance, snrphui......... .. . 2:n.683
239,627·
210,957 der. 17,741
- (V. 2~, p. 376,402,580,381; V. 31, p. 511 ; V. 32, p. 156, 393, 469r637; V. 3d, p. 12, 48, 4li.J
p
· <i: Del
-s
·t N J to B
d ·u N J 15 il
J ersey ~1-:teLin:;mR~Lili·oa:d was sifJ1~~ ~:1~e~osi1re MJ.lf'
oompany orga nized October, 1878, by pe-1-ties identified with the :\forria
& Essex lessees (Delaware Lackowauna & Western), by whom it is.
operated.. Nomiual stook, $1,000,000. Sa:nuel Sloan, President, New
York City.
c
to p
N
mil
Paterson c(: Hudson.-Jersey lty, N. J.,
aterROn, . J., 15
ee,,
TlJeroadwas opened in 183,t,and leasetl in pernetuity September9.
1852, to the New York & Erie, at o, rental of $53,400 per year. J. S.
President, New York City.
t=-.
Th:fl::
Hogers,
Paterson Newa:rk
c(:
New York.-Loasetl to New Yo:k Lake Erie k
Western at $35,000 per year.
1inished, 306 miles; projected. 288 miles. This company 8ucoeeded to
Pennsylvania.- -Dec 31, 1880, the. milr.a.ge operated east of Plttsbnrg;the Oregon & Central Railroad, organized under act of Congress July 25, a.nd Erie, on whioh earnings aa reported wero l>ased, was divided a11
1 866, and took that c-ompany's land grant. 'l'he eornpa.uy haB boon in follows: Pennsylvania Di \"is ion and branchoo, I~ i 20; Philadelphia &
,default since 1873, n.nd at Frankfort, Germany, May 5, 1881, the bond- Erie Division, 287 ; United Rai.lroadH of N. J. and oranchoe, 402; total
holders voted M.r.Villard'8 plan o.l' reorganization, and .i.ppointed Mt>ss1-i::, operated, New Yor 1, to PittHb nrg . with bn1,nches, 1 .809. The operations
Villard, Bretherton and Peebles, trURtecs. The plan provides for the or tile Pennsylva nia Ra.ilrnad cover so large n. field that a reference to
issue of preferred stock for the old bonds, $12,000,000, and common tho anlllial reports publis hed in tho CHRONICLE is neooasary to glv0
stock for $7,0· 0,000; also for $6L.Oo0,000 new mortgage ooudB. (V. ::J:.::, any M(l{Jnate iden of i~ working- and contlitlon fmm year to year.
p. 527,569,659 V. 33, p. 58.1, 68·1.)
The total cost of stocks 11n.d t><,nd1:.1 of other oomptlliies owned by PennOregon Oentral.-Portlaml to St. Joseph, Oregon, 47 milef!. Opened sylvania Railroad was $61,833,68 1, and t lie par v11lne $!>8, 14-1c,ri96. In
November 3, 1872. Loa.scd to Western Orogon Railroad. In 1878 there .l\farch, 1881, the company purchased o ver 20 ,.ooo shares of tho Ph'lla,was a net loss on operations. Stock, $5,000,000.
de1pllia Wllminirtou ,v Baltimore RR., n.nd the directors authorized the
Oregon Pacific-Road in progrei;;s . projooted line, 6 00 miles. of which issue of $20,000,000 new stonk or the P ennsylvania RR. A part or
60 miles from Corvallil:l to Ya.<tuirua is t-0 be tl.nisbed ilume''t' atelv. Land this stook wrui offered at par to s ockho ders of re<·-0rd April 30, btil, at
u
the rate of ii¼ per CH.mt of their holdin:m. In July, 1-.81, the 4 per ot.
gra.ut, over 900.000 a.cres. (V. 31, p. 358, 3 1'.i 3; V. 33, p . 93, 491.. )
bonds i,,ecmro<.l by I.'. w. & B. stook were isimod, aud $2ti0,t)OU a.re to be
Oregon Short Line.-RoU,d in progress from Grang;;r on tl:le U. P a-0. drawn am\ paicl yearly. A i,ch<'rne to huy up the oompauy's guu.ranwed
into O regon 600 miles, built un<ler U. P. oontrol. Oi:ie $1,000 bond and BeOUritica with $100,000 per mouth from earnings is in opt'mtion, and
'$500 ir1 l'ltock sold to U. P. stookholders for $1,000 cal:lh, Sec v. 33, v. the entire amouut rmid by the 001.Upany into the Trust up to the end at.
126, 716, 718.
1880 was $1,8-00,000. There had boon purchMod fo r the fund ~nriOswego dl Romc.-Richland, N. Y. to Oswego, N. Y., 29 miles. Road tie.11 of th~ par value of $ 1,401,850, whloh yield an inter~t or u ·84 per
opened January 1, 1866. It is lea.se<l to the Rome W(l.tertown & Ogdens- cent per auuLUu upon the invootment.
,b urg Railroad at 8 per oont on its stook and 7 per cont on guar.- llonds. . An abstraot of the latest report il:ls ued, that for 1880, was published in
the CmtoNICLE (V. 32, p. 26 2), r1howing surplus uet inoorue ot $'.l,817,65:J
Vswego <i: Syracu.se.--Sept. 30, l>l80, owned from Oswego, N. Y., to Byra- after paying Ml C1harg&1 and 4 ¼ per cent dividend. The ma.nai:.-ers re-0uee, N. Y., 35 mUea. 1..ea.sec.l l11"1868 to the Dela. Lack. & West. RR. Co. marked na to their ~· neral policy: "The oost of all new construction
for 9 per cent per year on atocK uud mterest on bonds. In 1878--79 net work not properly chargeable to th<.\ expense acoount "is e,,oh ye,ar
· income was $1201_707 ;· pa.yrnents, $1511141 ; dettcit to lessees, $30,374; added t-0 your capitaJ. aoooun t-the fllllds for this purpose for t 1,e P.',1St
1879-80, net, $18ti.856; paywen~, $152,471; surylus, $34,385.
two years having been obtained l ·gely by the sale of suoh soountiea
· Padiwah cl P.lizabethtown.-Ellzabethtown to Paduooh, Ky., 186 miles. · owned by tho oompany O.'l it was deemed wise t-0 dispose of."
Formerly Elizabethtown & Paducah, ftlld a.gain the Louisville Paducah
A summary or the tota.t husiness of 18 ~o in t,o.,nage, paa1:1eng61'8 ruid
& Southwestern. The road and a branch to Louisville were foroolosed earnings, compared with previous years, ia shown iu the following;
August 2~/ 1876. The Cooilian !Jraneh to Louisville). 45 miles, was sold
A.LL LINES EAST OF PITI'SBURG & ERIE,
again to t.ne Louisville & N a.'lhville Ra.ilroad. In 1~81 an interest in
tftls road wa~ purohaaed for the Chea. & Ohio system. The oommon
1877.
1878.
1879.
1880.
·stock is $1,426,500 aud prefen-ed $1,426,500. An interest dividend of Gr088 eo.rnings . ..... $31,117,146 $31,636,734 $34,620,279 $41,260,073
o _per cent was paid on income b onds in April, 1881·, out of earnings of Operating expenses. 19 ,028.,467 18,468,994 20,382,740 :.l-4,625,048_
1880. Net earnillgs in 18130-8 l, $98,146. (V, 30, p. 432; V. 83, p '73 .)
- -- - -----Pcri11S'Dille & Youngstoum.-Falrport, OWo, to Youngstown, Ohio, 66
Net e.arnings ..•• $12,088,679 $13,167,740 $14,237,539 $16,635,02:>
mlle.s. The old company made default, and rood was sold in foreclosure
ALL LINES DIR.OOI'LY OPEB.ATJl!D E.A8T .A.ND WJCST OF PIT1'8BtmG.
June 2, lti79. Under the reorganization bonds a.re issued as above,
1879.
1880.
I~
and the stool< la $:t8d,OOO. The Income bonds ll.a.ve votes, and a.re oon- Grosacarn•~1 alllinea,froru traffle.$60 86~,575 $70,764,062 $10,401,48&
v4'rtible into stock. Christopher Meyer, Pre.aiden s, New York. The G1·oss oper&Uug expenses ..... .. .. 85,639,794 42,179,483 6,639,69lil
road .has ~one into the posse&1ion of new and. enterprising man.agers in
1881~ who put in new capital .and completed the road. (V. 83, p. 4;69.)
Sbowing n ot earn.inga ....... ,.$24,722,78.0 ~,584,576 $3,861,~
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Federal Reserve Bank of St. Louis
Subscribers will aonCer a great Cavor by giving lm.med.J.a:te notice oC any error discovered In these Tables.
D ESCRIPTION.
For explanation of column h el¥llngs, &c., see no
on first p age of ta.bles.
Bonds-.l'riue1INTEREST OR DIVIDENDS.
Amount R ate p er When Wh&·e Payable a d b P~ ~en
M;;fe.s D~te Si~or
D i~ ~ n r
y
Whom.' n
Cent. P ayable
R oad. Bon ds Value. Outstanding
fut
--
P'11n.sylcania- ( Oontinued)-
'Cooaol. mortgage , g old . ...... ... . ..... . . .. . .. . .. .. .
-:Bonds, reg. ($10,000.000P. W. &B. s :ook oolla t 'l)
Car Tn1st cer t ifico.ws . . .. .. . . ... . . .. .... ..... .. . . . .
-:llavy Yard bonds r eg. (extended 20 y en.rs in ' 81)
Pffin81Jlvania Oo.- St ook ........ . ... . ... . . . . . . . .... .
· Reg.bonds, secured by P. Ft.W.& C. special stoclr
Bonds, gold, secured by pledge and guarantee . . . .
:Pauur11tvani a <f: N ew York-1st m ort., g ua r . . . .... .
· 1st m ortgage, gua ranteed . . . .. . ..... . .. . . .. . .... . . .
Peoria ~ Bu r eau Valley-St ock . .... . . .. .,,. . ....... . . .
18& mortgage bonds . ... . . . ... .. ...... .. ... . ... .. .. .
.Pt-oria Dec,;itttr re E vansville-Stook . .. . ... . .... .... .
Jst mort.', g old (Pekin t-0 Mat toon ) ...... . . . ... . ... .
n ot accwnulativc
do
Income bonds ,
1stmort. (Evansville Div.) .. .. . . . . . . . . ..... . . ... .
Income bonds (Evansv . D iv.), not cumula tive ... .
Peoria re P ekin Un ion- 1st mortg a ge ... . ..... . . . . . .
lal mortg age, income . . . .. . ....•. . .• . .... .. . .... . . .
. Perkiom~n-lst mo1·tga.ge . . ... . . . . ... . . ... .. ..... . . .
Consol. mort., gold, guar . P . & R. , (sink. fund). .. .
Peurixn·O'l,gh (N. H.J - Stock . ... .. . .. .. ... . .. . ...... .
Bonds (not mort.r redeemable after 1882 . .... . . .
Petersln,1·g-St-0ck . .. ... .......... .... .. ... . ... . . .... .
1st mort. bonds (pay a ble $25,000 yearly) . . .. .. . . .
2d mortga ge . ... .. .. . ... . .. ... .. .. . .. ... .. . . ... .... .
Phil,ad,etp nw d: B all. Oenlral-Stock .... .. . . .... .. . . .
1st n.or tgage (fo r $ 2,50 0,000) . . . ... . . .. . ........ . .
Westchester & Phila ., 1st m or tgage ... . .. . . . . . . . . .
?hAladelptiia d': E 1·w-Stock, coDlillo.u . . . . .. .. . . .... . .
Prefen·ed st ock . . . . , . ... .... . .. .. . .. . ... . . . ...... . . .
1st mort., Sunbury & E. (extend ed 20 years in '77) .
2d mortgage . . .. . ... ......... ... ... . .. .. . . . . . ... ... .
Consol. M., g old, guar by P a . R R . ($5,2 63,000 5s)
PhiladebpM..a d: Reading-St ock, common .. . ....... .
- -- - - - ·
1877
is53
isso
i867
38
38
1873
11
1 877
·s2
82
82
83
62
27
287
18 1
1871
·40
1857
1868
1869
287
287
Preferred. stock .. .. __.. .. . .. ... . . .. . . . . . ..... . .... . .
INCOME ACCOUNT,
•
- - -- - - --,------- ---
1879 $1,000
188 1
'7 7-' 80 1,000
1875
1,000
50
1,000
1881
1,000
105 1866
1,000
105 1866
1,000
46
100
47
1 81
1 ,000
1880
1 ,000
1 ,0UO
1 880
1,000
18 80
10
$ 5,000,000
5
10,000.000
4
5 ,048,000
t>' g.
5
1,000,000
20,000,000
212
2,857,000
6
10,000,000
412g.
1,500,000
7
7
1,500,000
1,200,0QO
4
3 00,000
8
8,400,000
1 ,287 ,000
858,000
1,470,000
1,23 0 ,000
1 ,500,0 00 .
1,500,000
100
7 9 9,600
1,000
1,125 ,000
100
385,000
147,000
500 &c.
l,3~4,200
100
500,000
300,001)
.. ifo 2,500,000
615,000
100 &c.
1 ,100,000
7 ,013,700
50
2,400,000
50
1,000
7
976,000
1 ,0 00
3,000,000
7
1,000 1 3 ,043,000 5 &6g.
50 3 2,7 26.375
212
1.551,800
50
3 12
J. & D.
J. & J .
· ··J
J ·&
.
.
J. & D.
Q.-J.
J. & J.
.T. & D.
,T. & D.
F . & A.
F . & A.
Phila delphia.&London.
do
do
Phil.,Pa ., Co.,forius.&c.
do
do
Pittsburgh, Co.'s Office
N. Y ., N a t. City Bk.
N e w York.
Phila ., B'k N. America.
do
do
N. Y ., Chic., R. I. & P ac.
do
do
..i90l
Jan: ·i,1881
D ec ..
Jnly 5, 1907
July 1, 1921
JunG 1, 189 6
June 1 , 1906
Aug. ,188 1
Aug . 1, 1893
J ..&.. J . N . Y. , Met...Nat. Bank.
do
do
. . ..
New Y ork.
M. & S.
do
M. & S.
ziii s:
Apr: . i",· "i887
4tb st.
A.: &·o. Phila:,·
do
do
.T. & D.
Juno 1 , 1913
N ash ua, Treasurer .
M. & N.
M ay, 1881
A. & 0. Boston, N . E. Trust Co. Oct. 1, 1897
,Ta,n. , 1872
J. & J.
P et ei·sbu.ii ,. Va .
.r. & J.
J a n ., 1879- '98
do
do
1 90 2
Philadelphia , Office.
··i off
A. ·&··o. Phila., Farni.& ..Mech .Blr April 1, 1891
: : : : . P hiladeipliia; P a . RR.
i",. °i897
do
do
A.. & 0.
J. & J. P h iladelphia, P a. R R . July 1 , 1888
J. & J . Phila d elp hi a & London. July, 1920
Philadelphia, Office.
Q.- J.
J a n. 25, 1876
do
do
Q,.-J .
J uly 25 , 1876
Oct: .
I sland R ailroad at a r ent a l of $125,000 p er annu m. Officers sam e as
1880.
Iet ln<'ome P ennsylv ania R ailroad Division . ........ . .. . . . . . $10 ,0 51 ,485 Rock I sland.
lfet loss New Jersey Dh7ision. . . .. . . . . ... .... .. . . . . .. . . . . . . . . . 1 ,035,308
P wria Decatur & Ei,an suilte.-June 3 0, 188 1, P eoria to E vansville,
248 miles. ThiB roa d is a colli\olidation of t he Pekin Lincoln & D ecatur
. . . ..... .. . . . . .. . .. . . $ 9,0l{i°,176
Balance . ... .. ....... . .. .. ........ .....
' :.'rom this deduct all charges o:I' every sorl, including t he
$600,000 for the purchase of guaranteed se curities, tetul.
R R. (formerly leased to tlle W abash) and t h e D ecatu r Mattoon & So.
and the Grayville & Mattoon . The bonds were placed on N. Y. S took
l,377,60i Exchange in Sept., 1880. On J uly 16, 1881 , voted t o issu e $ 2,400,000
n ew stock for new lines, &c. See V . 32, p . 659. In 1880-81 g rosr-i
Mhowing balance to credit o:I' income a.ooount after deduct ing all payments for whicn the compa ny WM responsible. $ 7,6 ~8.569
4,820,914
Gut of whicl;l w ere p aid divid en ds of 7 per cent . .. . .. . . . . .. .
·1.eavin~ to credit o:I' profit and loss
aooount . _.. . . .... . _... ... $ 2,817 ,6 55
Add baLUnce of amount r ealized fr om settlement of old a c7 95,22 0
counts, and profit o n sale of securi ties.. .. . .. ... . ... . . . ... .
$3,612,875
4 ,18 1,073
- -- ·llal:mce to credit of profit and loss Dec. 31, 1880 ... . . . . . . . . $7,79 3 ,948
. Themontblyrange inpricesof Penn.aylv n.nia RR. stook in Philadelprua
llave boon:
1881.
1880.
1881.
1880.
6 5 3s- 6 2 78
6T¼- 6 4 7s J uly . .... 5 ,38--:5 3
J'an .. ... . 52½-50 58
6 512- 6 3 1B
66¼- 6214 August.. 5858-57~1
:Peb. . .. .. 53 -515s
663.:l- 6 3 7s
6 73s- 64 18 Sep t'ber. 60 14..j7 14
March. :. 5 2 ~ - 5 1 ¾
66 3s- 6-!
7018- 6618 October . 6 2½-f.7~
.April ... . 54 7s- 523s
x 6 6 - 6 23.J,
6 919- 64.3s Nov 'ber . 6 3 -60
Kay .... . 5 5 -48
6 6¾- 64 3s Doo'ber.. 6714- 611~ . .... - ... . . .
..lune. . . . . 5! -1914
-(V.32, p 1 22,2 30,262, 265 , 288, 289, 3 34, 336,422,469,501, 578 ,
Gl3, 635 , 686; V. 3 3, p. 23, 93, 1 25, 2 26, 3 58,469, 588. )
Pennsylvania Oompan y.- The P ennsy lvania Oomp an11 is a corporation
ehartered by the P eunRylvania Logi~1ature, Ap ril 7, 1870~ distinct from
1he P ennsylv ania R aiiroad, a n d operates all tho leasea lines west of
Pituiburg-. The stoclc is owned by tho Pen ni,yl va.nia RR., and in 1 880
"1le 001.nmon and p r eferred w er e m er ged into on e cl a ss of stock, making $12,000,000, which w a.<1 incren..sed to $ 2Q,OOO,OOO prior to tlie issu e
of the $10,000,000 bonds in May, 1881. ~c ue wliole number of miles
•perated. or in any w ay controlled b y this company iA 3 ,517. T he i neome account of the P ennsylvania. Co. for 1 88 0 antl 1879 wa.s us follows :
187 9.
1 880.
Xet earnings Union Line B ureau, and for r ont s,
$S 6 6,61 3
real e state and equipment . .. . . .. . . . . . . .. . . . . . . $848,725
Add amount to credit of p r ofit and loss, Nee. 31, 1879. . .. ..
-
Profits from operating le~cd roads-
$92 2,366
4 6
8 ,693
9 5 ,237
17,553
- - -$1,975 ,016 $1,044.33 8
577,697
5 40,233
.Received from investments . .•• . .... .... ... . .•.. : .
- - -Total revenue ............... . ..... . ......... . . $3,401,4 39 $2,451,185
Pittsburg Fort Wayne & Chicago .. .. . . . . ....... . $1 ,589,543
7 1,2 26
:ITew Castle & Bea ver Valley...... .... . ... . ... . .. .
6 ,868
I..awrence . . . . . . . . . . . . . . • . . . . . . . . . . . . . . . . . . . . . . . . . .
07, 37 8
3
.
:
.
.
...
..
.....
...
.
..
........
Pittsburg
&
Cleveland
.J'etrersonville Madi.sou & Indianapolis . . .... . . .. .
----
D«11tct-
1b:penllC$ Proprietary Dep. and int.
. Loss in operatinn. leased t·oads-'-
on bonds . .. $603,799
$G46,541
a
51,039
232,65:i
Indianapolis & Vincennes . . . ....................•
Cash advru:iced to Cin. Richmond & Ft. Wayne .•
i.iU)i,i
Louis Alton & Terre Haute . . .. .... . . . ... . .•. .
:Erie & Pittsburg ..•. . ...... . . .. ...... .. ......... . .
JlMSillon & Cleveland ... .. .......... .. . . . . . . . ... .
26,320
,
Total expenses, interest, &o .....••. . ......... $1,024,952 $1 ,098 ,530
lTet income .... . .. . ... .. .............. .. .. . .. .. .... $2,376 ,487 $1,35 2,655
480,000
Deduct dividend on capital stock, 4 per cem . . . .
.
The registered bonds are secured by deposit of $4,000,000 of Pittsb. Ft.
Wayne & Chicago spedal stock. The a-old bonds of 1921 are seour~d by
a deposit in trust of the leases o! the':Pittsb. F't. Wayne & Chio. an.d the
Cleve. & Pittsb. railroads and are also guaranteed by the P enna. RR.
---
13alanoe, bein~ the surplus for the year . .. . .. $1,896,487 $1,352,655
Co. The trustees of the mort. a.re Wistar Morris, Edmund Smith and 8.
J(. Feltori: They w ere issued to supply funds :l'or purchasing the C. C.
& L c. bonds and other purposes, and the whole authorized issue is $20,000,000. The sinking fund is'l p . .c. per ann. if t h e bonds ca n be bought
ai par. See v. 32, p. 12:.l.-(V. 30, p. 431 ; V, 82, p. 122, 569, 637;
33, p. '72, 120.)
Penrisylvania ~ New York (Oanal and .RailwayJ.- November 30, 1880,
c,wned from Wilkesbarre, Pa., to New York State Lin~, 104 mil.es.
Branches to mines, 23 miles. Operated in ooDRection witn the Lehigh
Valley Railroa-d. Common stock, $1 061,700, and preferred stoclr,
· St,000,000. Net earnings in 1878-9, $599,791; in 1879-80 $915,132.
:Robert A. Paoker, Preaident, Sayre, Pa. (V. SO, p . 220; V. 32, p. 98,)
47 mile,e.
Peoria ~ .Bureau Valley.-Bure.au Junction to Peo~
Tlle road wns le~d i.11 perpetuity April 14, 1854, to the vn.ic~o & Rock
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Federal Reserve Bank of St. Louis
v.
p.1.,
in come, $566,634; n et, $ 21 2 ,777. (V. 30, p . 92, 222,375 , 434, 493 ; V .
3 1, p . 329; v. 32, p . 288, 6 59. i
P eor ia re Pekin Union.-Thi s road, f 1·om P e oria t o Pekin; 10 mile s, is a
u nion road, and the et ock of $1:,00 0 ,0 00 w as t aken by the differ en t
P eoria RR. companiefl. Opened Feb. , 188 1, a nd gross i ncome t o J uue
30 , $135,898; net, $40, 626.
Pe1·k iomen.- Perkiomen J un ction, P a ., to Ema us .Junction). 39 miles .
Tbe road was leased for n ineteen years from August 1 , 186ts, to Philad elp hia & R eading R aih·oad, and bonds gu amn teed by the l essees ; but
t he property was s ur r end er ed and aU con trol given up in Ma y , 18 79 .
One-h alf the inter est on t h e con solidated mort$'agc was p a id fo r three
y ears in P hiladelphia & R eadin g scrip, accorain g t o t h e Phil ad elphia
& R eading compromise. N et earnings in 1880 w er e $11 8,602. (V. 30,
p. 64 ; v, 23, p. 101.)
Pete1·borou gh.- Wilton to Green.field, N. H., 11 m iles. Comple ted J an.
1, 187 4 . and leased by Nashua & Lowell R a ilroad for 20 y ea r s from
1873 at 6 p er cent on cost of the r oad. In 1879 lessees w ithheld r en tal,
but a suit was d ecided in favor of PP-terboro ug b. J a m es Scott, President, Peterbor ough.N. H. (V. 32, p. 1 6. )
Petersbttrg.-Peterslmrg, Va. , to Weldon, N. C. , 64 miles. · In May, 1877 ~
a R eceiver w as appoin ted a n d for eclosure sale was d ecr eed .April 2 0 ,
1 8 80, but steps were t aken by second mortgage bondhold ers to pre ven t
a s ale by pay ing the over d ue obligation s a nd re-or gan izing. See V. 32,
p. 501, 613. (V. 30, p, 249; V. 31, 11. 30G; V. 32, p . 232, 444, 501, 6 13 , 68 6.)
Philadelp hia & Baltimm·e Oe1it1·al.- Phila. to Westch ester, 26 miles ;.
Westch ester Junction t o Octor i:i.ro Md. , 46 miles ; leased Che6ter Creek
Railr oad , 7 m iles, a nd Columbia & P. D eposit Railroad, 4 m iles ; t ot a l
oper ated , 83 miles. This was a e onsolidatiou, Oct., 1881, of the Ph ila.
& Dalt. Cen tral a nd t he Wes t chester & .Pbila . railroads. Of th e n ew
stock P b ila. Wil. & B alt . bol ds $ 1,669,400, and :t,61 5,000 of t he b onds.
I''li-ila,,.idph;,a, <f: Erie.-Dcc 31, 1880, ow u ed from Sunbury to Erie, 287
miles. Formerly Sunbur y & Erie R R. It w as leased t o P ellll. RR. for 99 9
years from J a nuary 1 , 18fi2, the lessees to p ay 30 p er cent or g ross
r eceipts ns r ental, but modifi ed January 1 , 1870, so that actua l n et
r eceipts a.r e p aid as r ental. Tbe con solidated mortg a ~e is gu a r anteed by
the P ennsylv ania R a ilroad. Tho unpa id coupons of ;i,1 15 34,034 a r e h eltl
by thfl lessee for ad vances. La.s t a n nua l r eport was m V. 3 2, p. 204.
Ope.rations ruid earnings for five year s pa.st w er e a.a follows :
Net
Gross
Freight (ton)
P:188enger
Earnings. E a rnings.
Mileage.
Milea ge.
ltiilcs.
Years.
34 0,390,703 $3,352,979 $1,164,533
2 2,425,613
1876 . . . .. . .. 287
3,172,993 1,123,366
335,727,141
12,466,005
1877 . . . . .... 287
876,111
2,921,060
3 81,300,202
11,444,005
1878 . ....... 287
961,549
3,091,807
505,918,017
11,562,653
1879 . . .. . .. . 2 S7
3,727,733 1 ,369,379
559,280,067
1 4 ,792,169
1880 . . . .. ... 287
-(V. 30, p. 190, V. 31, p. 653; V. 32, p. 204.)
Philadelphia ~ Reading.-Main line, Philadelphia. to Mount Carbon,
Pa.., 9 8 miles; branch lines owned, 233 miles; leased lines, 495
miles ; other lines controlled, 66 miles ; total operated, 892 lines. In
Ma;y, 1879, ~s company leased for 990 Yf:llrs the North Pennsylvania
R ailroad and D elawa.r e & Bound Brook Railroad, and at same time ga.va
up the P erkiomen Railroad. (See terms of lease under names of those
compa nies.) The B erks County RR. was purchased a t foreclosure and
p aid for in bonds. The m a in business of this company bas been t he transportation of anthracite coal. The Philadelpbia & Readi.ng C-Oa l & Iron
Com1lany is a corporat ion formed (Dec. 12, 1871) for the purpose of owning and working the extensive coal properties o:I' this company. The
Philadelphia & R e ad.in RR. Company owns all the stock of the Coal & Iron
Company, and the trustees of the general mortgage of 1874 hold the bonds
of the Coal & Iron C-Ompany. Between 1870 and 1876 this corporation
increased heavily its capital account in the purchase of new propertie&.,
and after paying 10 p er cent dividends for ~ome years ceased to payafter January, 1876. The company wae unable to meet all its obligations, 1111d in March, 1877, holders of the g eneral mortga.go bonds and
Periokruen ~aranteed bonds agreed to take one-half their ooupon.s for
three years m 6 per cent scrip; and holders of convertible and debenture
bonds to take 6 per cent scrip in payment of their coupons for five years.
. .
The sorip is convertible into i.ncome mortg age bonds.
In May, 1880, the company suspended payment, and on May 24
Franklin B. Gowen, Edwin M. Lewis and Stephen A. Caldwell were
appointeu R eceivers of the railroa<1 and coal companies. (See V. 30, p.
567.) At Philadelphia, July 1, a bill was filed for the foreclosure of the
general mo1·tga.ge o:I' 1874. Interest was pa.id in full only on the cohsolidated mortgage of 1871 and prior mortgages. Certain interest WM paid
on the coal land mortga.ges at reduced .rates, and the Jan., 1881, e-oupon.
on t h e ~eneral mortg-aJ?e was paid Oct. 18, 18~1. The oonte.st as to the
annual election, the litigation as to the bond schemes, &c., and t4e O<>urt·s
(7
D ECEMBER,
Subs cribers
xlvii
RAILROAD STOOKS A.ND BONDS.
1881.]
will confer a
great ravor by giving Immediate notie.e of any error dis cov e red In these Tai.blew.
INTEREST OR DIVIDENDS.
ijo•~_., 0 - r 1·1u'<~
pa.l , Wbeu One,.
Miles D a te Bize,or
A m ount
of
Rate per When Where Payable, and by Stovks-utSt
l'or explanation of ool umn headings, &c., see n ot,es of
Par
Whom.
Dividen.u.
on fi r s t page of tables.
R oad. B onds V alue. Outstanding
~nt. Payabl,e
D ESCRIPTION.
·-
Phil,add,_pma ii Readin,g--(Oonfoiued)Receivers• certincaties ..............................
Mortgage loan s inconvertible .. .. ..... . ... . .. . .. . ..
Loan mortgage, convertible . . . . ........... . • •. . ...
:u:i~n IIioriage, ste~1:;1g::: : :::::::: .. ·:::.._: ·:. ·:.: ·. ·:.
do
do
d o (Extended in 1877.) • ... .
L oan debenture ..•..••• .. • . ... . ..•.... . ......•• •• ••.
Loan mortgage ..• . .........................••• • ••• .
Consolidated mort., $ loan, ooupon or reg ...... . ..
do
do gold,$ or £, ooup ............
do
do $, gold, coup. or reg ..........
Debenture loan (convertible 1876-92)d ooup . .....
Jmprovem'tmort., $ or £, sinkJ fun , ooufi-···.
Gen. mort., $and£ (slnk. fund p. c. year y) ....
Income mortgage (for $ l0,000,000) ..... . .........
Income mortgage of 1879 . ............. . ... ... .....
Debenture and guar. bond.R, 6 per cent our'cy scrip
G en. mort. and Perkiomen 6 per cent ste.r'g scrip
· B onds for Berks Co. Railroad .... .... ...... .... . ...
Coal & Iron Co., guar. mort. (for $30,000,000) ...
do
debentures, guaranteed ... .... ....
Philadel11kia Germantown & Norristown-Stock . ...
p hitad.elph.ia Newtown ti N1.,'1.o York-Stock ..........
Bon ds. gua.r. by Phila.. & Read.,ooup .. ............
Phitadel1Jftia & Trenton-Stock . ... .............. . ...
PhiladeljJh-ia Wilmington & Balti1nore-Stock .... ..
Plain bonds, loan ...... .......... .. ........ . .... . ...
do
do ...................................
do ...... . ............................
do
do . . ....... . . .. .....................
do
· tsburg Bradford if Buffalo-1st mort.,ooup.,.,r'ld
PU
.Pitts. O. & St.L.-latm.,oons. (for$l0,000,000) .....
2d mortg age . . , ..... . ... . .. . ....................... .
l at mortgage, Steubenville & Ind., reorganized ...
Col. & Newark Division bonds ....... .... . ........ .
- - --779
7 79
779
779
779
779
779
779
779
7¥5
750
....
....
....
....
....
-· ··
·29
"'ii
26
112
....
....
....
a-··63
200
200
117
33
·---·
1880
$ ....
1 843-9 1 ,000
1 857
1 ,000
1 836
£ 100
1843
£ 500
1867
1 ,000
· 1868 100 &o.
1,000
1868
1871
1,000
1 871
1,000
1871
1.000
1873
1,000
1873
1 ,000
1874
1 ,000
1876
1,000
1879
1877 10&~.
1877 90 &c.
1878
1872-4. 1~000
1872
....
.. ifo
··-·
.....
50
100 &o.
100
50
1,000
1872-4 1,000
1875
1 ,000
18-80
18~1
1~000
1,000
1868
1873
1,000
1864
1,000
l.000
1864
....
i867
-decision against Mr . G o wen, were referred to at muoh length in the
CBRON1cu;, V . 31, 32 and 33, pages indexed below. Also the scheme of
President Bond in Aug. 1 881, V. 33, p. 177.
P1•ices of Philadelphia & Reading stock in Philadelphia, have boon:
1880.
1881.
18S30.
1881. .
Jan ...... 3Glg-33~
34Ig- 25~ July ..... 191g-13¼
3019 - 2818
Feb...... 35 -32
2634- 26
August.. 1218- 9¼
337s- 29~
March.. . 36 -3418
355g- 283.i Sept'ber. 1614-11¼
3638- 29¼
April.... 353s-29 14
3 2 ~ · 253s Oot-0ber . 23 7s-1414
3714- 307s
May. . ... 30~- 8 7s
3058- 2619 Nov'ber . 2714-20
3438- 3214
June..... 2214-16¾
30 7a- 28
D ec'ber.. 271s-22 7s . . . . . . . .... .
The annual r eport for 1 879--80 was not issued until Ju.1y, 1881, and~
-abstract wa-s published in the CHRONICLE, v. 33, p. 123.
The following table shows a comparison between the rcsu.1ts of the
two years' operations. 'l'he earnings of the railroad company for the
1lscal year ending Nov . 30, 1880, were as follows:
Earnin~s.
Expenses. N et earning-a.
Rru.l road traffic ................... $16,988,886 $9,247,49l $7,601,395
Canal traffic......................
873;.!44
417,417
455,>-<27
Steam colliers . . . .. .. . . . . . . . . . . . ..
607,646
384,057
22:-J,589
Richmon<l bargea.................
100,627
98,183
2,444
-----
Total.. ........ . . . .............. $18,520,403 $10,14 7, 148
Total, 1879 .........•... . .. .. ... .. !.5,279,765
8,l92,99i
$8,373,255
7,086,773
IncreMe ........................ $3,24.0,638 $1,954,156 $1,286,482
The following shows the net rosult-A for the year for the RR. oompany:
1880.
1879.
Increase.
D eorease.
Net earnings ...... $8,373.254
$7,086,773
$1,286,481
$ . ...... .
Rentals . .......... $3,:-l66,159
lnterest. ... . . . . .. 5,515,473
Total chD.rges . .. $8.881,632
----Deficiency........ $508,378
$:l,943,317
5.206,878
$8,150,195
--- ---
4&6
P hiladelphia, Oflloe.
6
J. ·&··.r.
do
do
J. & .r.
6
do
do
.T.
&
.r.
London.
~ g•
J. & J.
do
1. & J.
7
do
6
J. & J. Philadelphia, Office.
A. & 0 .
7
do
do
J. & D.
7
do
do
J.
&
D.
6 g.
Philadelphia & London.
6 g. J. & D. Ph.iladelpbia, Offloe.
J. & J.
7
do
do
A. & 0 . Philadelphia or London
6
6 g. J. & J London & Philadelphia.
.T. &D. Philadelphia, Office .
7
6
1. &D.
do
do
J. & .f.
6
do
do
6 ~- .T. & .J. London & Pbiia.delphia.
586,000 3, 4 ,5, 6 M.&N. Phtln.delphia, Office.
13,036,500
Varlous London & Philadelphia..
7
M.& 8. Pillladelphia, Otlioo.
1,731,000
7
2.231,900
Q.-M. Phila.., T:eaaurer of (',o,
3
1,20 0 ,000
..6. A..&..O . Philai227 4th St.
700,000
21g
Q.~J.
1,2[)9,100
Phil! o1E_llia, Office.
11,795,0 30
J. & J . Philwelp la & Boston.
4
A. & O.
1,000,000
6
do
do
700,000
A. & O. Phil'delphla, Co.'s Offioe
6
800,000
A. & O.
0
. do
dc1,000,000
J. &D.
5
do
do
500,0uO
~ g. A. & 0. N.Y., Nat. Bk.Repuhlic.
6,68-!.000
F. & A. Plilla. , Pa. , RR. Offloc.
2,500,000
A.. & o.
7
do
do
8,000,000
6
l\f'nthly . New York, Agenoy.
31:-1.000
J . & .J:
7
do
do
$1,800.0uO
1,510,500
79,000
182,400
967,200
134,400
1,135,300
2,700,000
10,649,000
6 ,999,000
968,000
10,499,900
9,364,000
19,686,000
2,331,000
lv,000,000
3,472,973
l,8::!2,76-0
·so:
July;·isao
.Tu.ly, 1886
J u ly, 1 880
JUJ.y, 1880July 1, 1882
.Tuly 1 , 189·3
Oot. 1, 189:J
June, 1911
J une, 191:t
Jun'J, 1911
Jan. 1 , 189 :1
Oot. 1, 1897
Ju.1.v 1. 1908
Dro. 1, 1896
Jtiii:"iss2
.July, 1882
May 1-, 189ll
US92 to'94
1892
Deo. 3 . 1811
oot.· · i·: ·is97
Jan. 10, 18tr.:
Jan. 1 . 188~
Aprll, 1887
Oot. 1 . 1892
April 1 . 1900
June, 1910
April 1, 1911
Au~. 1 , 1900
April 1, 1913
May, 1884
.Ja,tl., 1890
P~senger Freifio-ht (ton)
Gr<?SB
Net
DlY'd
YearR. Miles.
Mil-eage.
Mt e.age.
Earnmgs. Earuing-s. p . ct.
1876- 7 ... 111
59,160 ,438 42,089,750 $2,916,250 $1 ,161,216
8
1877-8 ... 112
60,504,494 46,080,501 2,660,446 1,095,103
8
1878-9 ... 112
62,102,597 5 8,146,546 2,849,919
1,282,17 8
8
187~80 . ll'.:3
. . .. . . . . . . . • •• • • . . . . . • • • 3,263,110 1,366,223
8
1830-81 . 112
. . . .. . .. . . .. . . . .. . . . . . . . 3,551,88 1 1,231,081
S
-(V. 32, p. 68, 232,266,289,422; V. 33, p. 218.)
Pittsburg Bradford d! Buffi-ilo.-Road in 11rogress (narrow 1:mu.ge) from:
Foxbm·g and Emlenton to Clari0n and thenoe to Kane, Pa.: 108 miles,.
of wllioli G:~ were flnishoo in .Jnly, 1881. Bonds issued at ~.000 per
mile.
Stock autborizod., $1.000,000, pn.r $100; issued, $550, ~ .
Marcus Hu.1ings, President, Oil City, Pa. (V. 3 3, p. 359,)
I'Ulslnt,g Oineinnati d! St. Louis.-Dooember 31, 1880, owned-from Pittsburg, Pa., to ColumbUB, Ohio, 193 miles ; branch toCadiz, Ohio, 8 milos; t otal, 2-01 miles. This was a consolida-tion
of several c10mpa.nios, May 1, 1868, including the Steubenville &
Indian:\ and tho Pan Handle roads. This oompany is oontrolled
by tho P enns, •lvan1a Company, through the ownership of a majority ot
its stock. This company also holds leases of the Li.ttle M:iami and its
dependenciea and of the Columbus Chioago & Indiana Ooutral road,
which are operated by the Pennsylvruua. Company. and their er.rnings
separately stated. Common stook, $2,508,000; first preferred, $2,920,2-00; second preferred, $3.000,000. Gr08s receipts in 1880, $ 4,339,448;
net. $'2,0-18 7:!.'l.; surplus over interest, &c., $!-193,798. Losa on leased
lines, &o., $16tr,512; not profit, $8:la,2H6 . The interest on the second
mortgage bonds, dne from October 1, 1875, to Ai,ril 1. ltS7ti, inclustve.
was pu.id in 1880.
The annual report for 1880 was publishod in the CHRONICLE, V. 32, Jr•
498. Oompu.1•ative statisti08 for four years were as follows :
$422,842
308,595
INOOME A.OOOUNT. * _
$ .. ... .. .
$731,437
------· $....... .. ..
$555,044
Reccvpts-
1877.
1878.
18i9.
$
$
$
1880.;
$
l,186,i63
Net earnings . . . .. . ... 1,075.049
1,599,562
~-032.682
iil,Ot>3,422
10,230
14,022
Re.nt.als n.n<l in t.crest.
:4.854
ltiy041.
In this statiement the fttll tutercst and r ental charges are included, Net from leased ro:ids
500,072
449,688
711,466
647,85B
whether aotuallv paid or not; whether paid in scl'ip or now in arrears.
All other acoounts ... 16,64:!,163
t,16l,83~
The joint statement of the tet.al receipts and expenses of the railroad
.and the 01:1al and iron eompaniea is as follows for the fiscal year:
Total lnoome ..•. . 8,227,514
2,696.~1
2,123$1•14 2,325.050
Disint,rsernentl.' $
$
$
1880.
1879.
Inorease.
Decrease.
RontaJ.s
paid
..
.......
820,123
828,127
821.299
801,048.
Gross receipts ...... $32, l. 7,003 $26,937,886 $5,239,117 $ ......... .
Interest t>n debt . .... .
669,790
833,625
842,480
669,790
Expenses ...... . .. .. 2::l,3 t 5,8u5
20,5{90,563
2,765,::J0'.3
Other ............... .
75,848
182,944
136,980
174.944.
283.390
Net ~1.rninga..... $8,861,137
$6,387,323 $2,473,lin4 $ . .•.. .... . Misc.ellan's a,ooount.i 'it6,406,050
rut.
onC.&M.Vul.l><la
105,000
105,000
lnt':ir6$1i and r entals 10,u71, l'..!<l
9,206,181
865,9-1 2
65,20@
Lo8s ont3t.L.V.&T.H.
46,37~
16,144
27.24 1
13,422
412,002
38 .693
745.868
Loss ..... . ........ $1,209,986
$2,817,858
$ .. . ... : ... $1,607,872 Ba.lanoo, surplus ....•
Operations a.nd earnings for five years were as follows:
Total. . ........... 8,227,514
2,123,144
2,32v,050
2,696,ti81
Passenger
Frei"'ht (ton)
Gross
Net
• Exclmuve ot Oo1. Chic. & Jud. Cent..
Yenrs.
Miles.
Mileage.
l,Ufeu.o-e.*
Earnin~s. Revenue.
trneludes-Sale of preferred stock Bt. Louts Vandalia. & Ton-e Hn.ut-e.
1876-6 ...... 709 1~3,871,237
556,121,169 $12,227,olO $3,717,161 $200,000; sale Union Depot bondi;, $186,000; amount of oorta.in liabili1876-7 . .. ... 790
74,315,237
711,526,398 1~,142,910 4,468.493 ties on.nooled a.nil surrendered by Ptmnsylvania Oo., $5,8 66,721,
1877-8 ..•... 7W
75,110,715
610,492,192 11,539,593 4,419,591
: Includes $180,400 bills _payable or tllls oomp:i.ny, canoeled and sur1878-9 . .. ... 89~
9 8 ,98~.902
818.396,913 rn,595,862 4,143,456 reuflered by P<mnsylvnnia Oo.
1879-80 . . .. . . .. 132,837,063
809,9~i2,953 16,9::!8,88~ 5,007,095
,r Include&-Roduotion of second mortgage bonds, $2,500,000 i reduo-* lncludilJg coul.
tion of bills payable, $2,509,221.
·
--(V. 32. p. ~6, 17, 44, 70, 101. '22,t 15_6, 18-!, 206, ~3~ 1_289, 3~3, 83C,
GENERAL BALANCE AT CLOSE OF EACH FISCAL TBA.It.
396l 407b*2., 430i445 , 469,t 488.1. 5~7b~~9, 578, 6131 otj6;
3;!, p . 12,
23. 93, 1 .. , 123, 54, 177, ~02, ~26, ....06, 329,385,412,433, 4,0, 50:L,
1877.
1878.
1879.
1880.
588.)
.Asset.s-$
$
$
$
Railroad,equipm
't,&c
10,942,295
19,942,.295
19,942,295
19.942,295
Philadelphia Germantown cE Nm·ristown..-Philadelphia, Pa., to Norris·
85,498
67,298
58,398
*68;30t1
town, Pa., 17 miles; Germantown Branch, 3 miles; Pl~outll Railroad. E:!tocks owned, cost .. .
317,8!>5
817,855
317,855
*283,oo&
9 miles; total, 29 milc1& Tile property was least,'<! Nov. 10, 1870, to Honda owned, cost .. .
644,952
651,67.1
660,203
7~6.241
Philadelphia..& Re.ading Railroad for 999 years at a. rental of $269,623 Betterm'tstol'soor'ds
Bills&
aoo'ts
reo'vable
1,158,840
1,361,789
1,2-02,4.33
1,()76.52&
and $8,000 yearly for organization expen.aea. Dividends oi 12 per cent
Materials, fuel, &o ..
45-t ,013
517,928
54 1,607
626,859
per annwn are rogu.1arly paid.
0Mh on hand ....... .
59,316
92,::HZ
237,543
4 tJ2 ,188
Phila..tclph,ia, Newuw,n dl Nef/11 Y.ork.-From Newtown Junction t-o Add'na to Cin. S. C.Ry
64,6d9
64,639
6t,639
64,639
Newtown, Pa. 22 milea. Capital stook $1,200,000. Ou ·November 1<1, Pl·J:tit & 1068 ba.lanoo.
329,178
291,868
87,504
1879, the Philadelphia & Re,adlng Raihoa1l purohosed 12,012 share-,,
.~ving control of the p r operty, a.nd guaranteed the bond.a
(See
Total assets...... . 23,056.586 23,297,655 23,062,567 23.219,Ht
\;llRONICLE, V. 29, p. 512.J
Li.a.Ulities$
$
$
$
Stook,
common . • . . . • 2,508,000
2,508,000
2,508,000 t 2,508,000
Philaddpltia <I! 11renton.-Philadclphia, Pa., to Morrisville, Pa.., 27
5,!l2!1,200
5,929,200 t 5 ,929,2,00'
m1lfls. On Doo. 1, 1871, it wea leased with the United Companies of Stook, prefe.rred.... .. 5,1l29,200
New Jersey- to the Peun.sylva.nia Railroad, and is operated aa a part o: Bds. (see 6UPPLIUI'T). 12,508,061 12,497,000 12,497,000 12,4'97,000
All other dues & aoo'ts
72 l ,954
956,898
726,803
7 8 4,754:
its New York di vii.don. Re.,."Ular dindends of 1 0 per cent are paid.
Due Little Miami RR.
889,0 60
888.,t!OS
888,7 ~
8 9 1,1 89
PhiladelpMa WUmin,gto,a. d! BaUim-0re.-Pltlladelphla, Pa. to BaJt i• Due C. C. & LC.~-.
184,601
184,601
184,601
184,001
m ore, Md., 96 miles ; Port ~ t Branch. 4 miles; Southern Dlvi£1ion to
' Stooks and bonds a.s follows: Little Kiamib $ 1 ,100 stoolc, ~000
;Rooney & Newoas~ 12 milea~tota[{.ma,in line and brunches, 112
µrlles; Delaware
Jleaaed)t .~ m ea i total operated, 207 milea. bondsJ. Little Miami Elevato:r stoo~$~21.~i C. , & L C. bonds. ~ 75 ,Own o ver half the etook o Ula P.llll. & Balt. Central road.
000 · u nion I):e~J;, Ool umbna, etoo lbw wv.
ln April, 18 ·H◊nearly the whole &took was pm-ohaeed and ta held by
t Of wh!ah lfWJ6.,4.60 common a
$3,500 preferred la Bieu.b. & Incl
.Penn. RR. Oo.
perat1ons and. el.U"Ilin.g8 tor ilvo yeal'6 _paat w-oro :
stuck UD.OQnverteo..
_
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
--·- - -
io5·,ooo
y.
---- -----------
ios·.ooo
RAILROAD STOCKS AND BONDS.
:xlviii
[VoL.
Subtlerlbers wUl eonCer a great t'avor by giving Immediate notice oC any error dl•eoYered In
the■ e
xxxm.
Tables.
Bonds-PrinciINTEREST OR DIVllDENDS.
DESCRIPTION.
Due,
Miles Date Size,or
Amount Rate per When Where Payable, and by pal,When
.Fer explanation of column beadings, &o., aee ncites of
of
Stocks-I.Mt
Par Outstanding
Whom.
on first page of tables.
Cent. Payable
Dividend.
Road. Bonds Value.
-l"Ubb.
ff OonnellBt7ille.-lst mortgage ..............
l.tit
do
Turtle Creek division ...............
Co.ruiol. mort., guar. B. & 0. (s.f. £7,200 pr. yr.) ..
PiUaburg Ft. Wayne cl! Ohicago-Btock, guar ........
Special: improvement stock, guai·anteed ...........
-149
10
149
468
468
468
468
468
468
468
468
468
468
468
468
468
468
468
--- - - ------ ---7
J.
1868 !!;1,000 $-l,000,000
100 &c.
326,600
6,500,000
£200
$100 19,714,285
6,770,900
100
1862 500 &c.
875,000
1862 500 &c.
875,000
1862 500 &c.
875,000
1862 500 &o.
875,000
1862 500 &c.
875,000
875,000
1862 500 &c.
1862 500 &o.
860,000
860,000
1862 500 &c.
860,000
1862 500 &c.
860,000
1862 500 &c.
860,000
1863 500 &c.
1862 500 &c.
860,000
2,000,000
1862 500 &c.
.... 1 857 1,000
100~000
1,000,000
1,000
1874
2,050,000
.....
50
2,000,000
1 ,000
70 1878
1,583,000
1,000
30
.....
....
. ...
··:,,;o 4,000,000
500,000
21
....
724 ,276
23
250,000
112
lOO&c.
1,500,000
..... 1878 100 &c.
800,000
60 1870 500 &c.
2,268,000
94 1871 100 &c.
700,000
5212 1867-9 500 &o.
350,000
5212 1870 500&c.
450,000
5212 1871 500 &c.
1,500,000
51
....
100
770,000
71
100
··-·
1.000,000
71 1877 500 &c.
I
1st mortgage (series A). . . . . .
(
1st
do
do B ......
1£.•~
do
do
C ......
1st
do
do D ......
1st
do
do E · · · · · · Bonds a1.ll conl•t
do
do
F . •• . • .
pon, but mo.y
00 G
2d
do
· · .. · ·
be made pay2d
do
do H · ·····
able to order.
2d
do
do
I ......
2d
do
do K .... ..
2d
do
do L ... ...
2d.
do
do M ......
3d
do
.................
Pittsburg, Ft. Wayne & Chic. construction bonds.
~uipment bonds {renewed) .......................
Pittliburg cl! Lake Ene- Stock .... ..... ...... . .... ... :
1st mortp;ft.ge, gold, coupon ....................... .
~ttsb. Va. d: Oharlest011r-ls.t mor~age, gold ........
Pittaburg Your,.gstown cl! Ohuxigo- tock .. ...... ... ..
I
I
~~~in~ ~t~~~~~goir·.·.·.·.·::::::::::::::::::
~ort Royal d: A.ugusta-- lst mortgage ....... . ........
Inoome mort3,.age bonds, coup .. .. . ... .............
Portland d: O.fc ,ensb.-lst mort., gold ....... .. . •...
:Mortgage, or $3,300,000) . .... . ... ...... ....... .. .
Portl. d: Rochester-1st mort., s. f. (Portl. loanl "A".
1st mortgage, equal lien ...........................
2d
do
(Portland loan) sinking fund, "B".
.Portland Saco cl! Pm·tsmcnith-Stock .... .............
P~umouth Gt. Falls d: Oo-nway-Stock . ... .........
1st mo~ag-e . . ........ . ... .... .....................
1859
1876
is7i
·-,,o
is7s
6
6 g.
1~
1~
7
7
7
7
7
7
7
7
7
7
7
7
7
7
8
& J. Bait., Balt. & Ohio RR.
F. &A. Pittsb., l<~irst Nat. Bank
J. & J. London. J.S.Morfan&Co
Q.-J. N. Y., Winslow, . &. Co.
do ·
do
Q.-J.
dG
do
J. & J.
F. & A.
do
do
M.& S.
do
do
do
do
A. & O.
M.&N.
do
do
do
do
J. &D.
do
do
J. & .J.
F. & A.
de
do
:M:.& s.
do
do
A. & O.
do
do
M.&N.
do
do
J .. & D.
do
do
A. & 0
do
do
do
do
J. & J.
M. & 8.
do
do
July, 1898 ·
Aug. 1, 1882
Jan. 1, 1926
Jan. 4. 1882
Jan. 1; 1882
July 1, 1912
July 1, 1912
July 1, 1912
July 1, 1912
July 1, 1912
July 1. 1912
July 1, 1912
Jilly 1, 1912
July 1, 1912
July 1, 1912
July 1, 1912
July 1, 1912
July 1, 1912
Jan. 1, 1887
Moh. 1, 1884
..<f g.
7 g.
.....
J. "i,l,··J . N.Y., Chemica.iNat. Bk . Juiy. i·,· 'i928
Philadelphia.
April 1, 1902
A.. & o.
..tfg.
6 g.
6 g.
6 g.
J. -;,~:·J.
ao
do
J. & ,J.
J. & J. Portland, Treas. Olfice.
do
M.&N.
do
J. & J. Bost0n, Columbian B'k.
A. & 0 .
do
do
Various
do
do
Boston,
Office.
&
J.
J.
J. & J. Bost., Eastern RR. Co.
J. &D.
do
do
....
6
7
6
3
3
4¼
......
.....
.. .........
... ........
N. Y., Offioo,'252 B'way .
. .........
. ........
Jau:·i·...i899
Jan. 1, 1899
Jan., 1900
Nov., 1901
July 1, 1887
Oct. 1, 188.7
Sept. 1, 1891
July 15, 1881
July 15, 1873
June 1. 1937
Pittl:ibw·g Youngstown d': Ohicago.-(V. 33, p. 75.)
$
Pomeroy cf: State Line.-Pomeroy, Pa., to Delaware State lino, 21
262,500
64,8-19 m"iles. The former Penn. & Del. RR. was len.sorl to the P ennsylvania.
...........
. .........
97,051 Railroad, with net earnings as r ental. On .August 12, 1879, the road
........
was sold in foreclosure for $100,000, aud this company organized, a.a
of tbis part of the road, which connects with the Newark & Del
Total.liabilities . . 22.056,586 23,297,655 23,062,567 23,219,144 owners
City RR., 17 miles. Stricldaud Kneass, Presiuent. Plliladelphia. (See
-(V. 30, p. 118,298, 381; v . 32, p. 1 55, 498.)
v.
20,
p.
162; v. 30, p. 170.)
Pittsburg cl! Oo-nnellsville.-Pittsburg, Pa., to Cumberland, Md., 1 50
miles; branch, 2 miles; leased lines, 22 miles; total, 174 miles. On
Port Jervis cf: j]fonticello.-Sept. 30, 1880, owned from Port J ervis, N.
Dooember 13 1875, the property waa leased to the Baltimore & Ohio Y., to Monticello, N. Y .. 24 miles. Formerly the l\fontieello & Port
Bailroad, and ~osse88ion given Januru-y 1, 1876. The rental is interest J ervis RR., which was sold in foreolosure July 16, 1875, and reorganized
c,n the aebt anct. £7.200 sterling as an annual sinking fund. The city of as the present Port J ervis & Monticello. Gross earnings 1878-9, ~25,806·;
Be.ltimore transferied its interest to the Baltimore & Ohio Railroad for net. $1,616; gross earnings in 1879-80, $29,128 ;net. $6,545. 'lhe stock
$1,000,000 and the ~onsoli<lated sterling mortgage was made an<l ~uar- is $724,276, issued to the former holders of first mortgage bonds.
a.nteed by the Baltimore & Ohio. It is operated as the Pitt6bur~ Division
I'ort Royal cf: A.ugusta.-Line of road, Port Royal, S. C., to Augusta, Ga.,
~f the Baltimore & Ohio Railroad. In February, 1880, ajuagm.ent in
:favor o Baltimvre ~ Ohio Company was confesse<l for $4,354,743. Stoel{ 112 miles. Formerly Port Royal Railroad. Defaulted Nov. 1, 1873,
and
receiver appointed May 9, 1875. Sold in foreclosure June 6, 1878,
is $1.955,741. In 1879-80 the net earnings were $1,011,827. (V. 29,
and pmehased for the bondholders, who organized this company. The
p. S35; V. 30, p. 249.)
Georgia
Railroa.a was endorser on $500,000 of the old bonds. In Jan. ,
Pittsbu1·g Port lVayne & Ohieago.-Pittsb1u-g, Pa., to Chicago, Ill., .468
miles. The company made default Oct. 1, 1857, and again in 1859, and '81, 2 per cent for 1 879 was paid on in come bonds. The new stock is
$750,000,
and in June, 188 1, a controllin~ interest was ;purcha6ed by
was foreclosed Oct. 24, 1861, and reorganized under tbis title Feb. 26,
1862. On June 27, 1 869, the company leased all its road and property Central Georgia RR. parties. There are iuso $50,000 eqmpment bonds.
The
report
for 1880 gave earnings, &c., compared with 1879, as follows :
to the P ennsylvania Railroad at a rental equivalent to interest, sink1879.
1880.
ing fund of d ebt, and 7 per coot on $19,714,286 stock, which was
$3u9,634
inoreased at that time from $11,500,000. Tll e lease was transferred GrosR earnings ......... ..... ................. $242,722
222,634
subsequently to t h e P ennsylvania Company. The lessees are to keep Operating expenses.... .... ... ......... .. ... 193,355
the road in repair and also pay taxes, expenses, &c. The Pittabur~ Ft.
------Net earnings. .. ........... ... ..... ..... .. $43,366
$87,000
Wayne & Chica~o leases the Newcastle & Beaver Valley and tlle Lawrence 1·oads, whi ch in turn are leased again by the P ennsyl vania ComThe report i;tates : " It was found necessary to incren,se the rolling
-pany. Of the 1st mortgage bonds, $1,H.16, 00c.>, and of the 2n mortgage stock and motive power during- the pll,st year by the addition of new
$1,258,000, and $399,818 ca.sh, were h eld in the sinking funds Jan. 1, cars and a. lo com otive, an d for this purpose ' equipment bonds' hav e
1881. The special improvement stock is issuC'd to Pennsylvania RR. been issued to the amount of fifty thousand dollaris ($50,000). bearing
or improvements, &c., under article 16 o'f lease, viz.:
8 p er c~n t interest., and payable at the rate of t<'u thousand dollars
•• ARTICLE 16. The party of the first part hereby a.g rees th at, for the ($10,0tlO) a year after the year 188 1. These bonds are secured by a,
"lurpose of enabling the party of the second part to m eet the ol.Jlio-ations purchase money mortgage upon the equipment purchased and con-,f the party of the first part to tbe public , by ma,ldu_g from time to time structed with the proceed s, made to J ames D. Fisk, Esq., Trustee.
tmch improvements upon anct. additions to the saia Pittsb11rg Fort Wayne Tllis new equipment is of great aid to us at present, but is not
& Chicago Railway, iu th·e extension of faciliti es for incre:.11:K•d business eomm eu sm·ate with the actual increa se, or immediate prosp ects of
by additional tr&clrn and depots, shops and equipm ents, anrl the s ubsti- bmiiness, arnl dm'ing the present year we should make arrangements to
tution of stone or i.I·0n briflges for wooden bridgeF<, or steel rails for iron still further equip the road, by the construction of at lea st one hundred
railB, the party of the fu st part will issue, from time to time, n, special freight cars, and the pm·chase of two more locomotives; and I earnestly
11toek, winch shall bear such n ame a shall be hereafter agreed upon, or r ecommend your cordia,l attention to this important matter. Since last
bonds. or other securities, which shall be issu ed in such form as may, annu a l meetin~, improvements have been progressing at Port Royal.
fi'om time to time, be found to be most availa ble with respect to economy The Augusta 6i Port Royal Compress Company have completed their
of interest an<l negotiability, and shall be consistent with the lego,l large Taylor Compress, which is now in operation. and they have loaded
powers of the party of the first part and . the rights secured by these several la r ge Ei;iglish steamships w ith cotton for Europe, and others aro
presents, which special stock, or bonds, or other sccm·ities, shall be now at the compress wharf r eceiving cargoes. (V. 30, p. 466 ; V. 31, p
.issued on the conditions following-: The said party of the second part 653; v. 32, p. 356; v. 33, p. 580, 6:.H.)
Bhall guarantee the payment, semi-annually or quarterly, thereon of
Portland cf: Ogden~burg.-Sept. 30, l-880, owned from Portland Me.,
.:such rate of interest as ruay be a15recd upou between the pnrties hereto,
to be paid by the said party of tue seoond part to the holders thereof to Fabyans, 91 ailes. It r each es tho Vermont Division (now St. Johns-witllout deduction from the r ent hereinbefore reserved; and the said bury & Lake Champlain) by using 14 miles of the Boston Concord &
11pecial stock, or bonds, or other secm·ities, shall be issu ed only in r espect Montreal RR. and a 3-mile link of its own. The city of Portland owns
io improvements of and additions to the said r ailway w hich, and esti- a controlling interest in the stock, which is $1,052,185. A suit in
mates and specifications of wllich, shall h ave been submitted to and equity was begun by holders of the 1871 mortgage in F ebruary, 1881,
-approved by the said patty of tho first part in writing; and all such which will be contested by the city. Earnings of this road for five
improvements or additious shall be made in such manner as shall be years past were as follows :
approved by the said party of the first part. The party of the first part Years.
Miles.
Gross Earn'gs.
NetEarn'gs
~hall not at any time, during the term a.foresaid ood the continuance of 1875-6 . ........ : . . . . . . . . . . . . . 94
$ 234,980
$91,066
tbit5 lease, make or issue any bond or obligation, in a.ddition to the bonds 1876-7. .. .. . . .. . . .. ... . . .. . . . 94
262,764
69,4.31
llei:einbeforc speci1ied, except l!!Ub.iect to this lease, without tho consent 1877-8.. .. . . . . . . . . . . . . . . .. . . . 94
270,783
88;~74
in writing <>f the said party of the sCCQnd part first had and obtained 1878- 9....................... 94
271,493
92,295
1hereunto."
1879-80 . . . . . . . . . . . . . . . . . . . . . 9-i
292,659
102,695
The lease has been profitable to the lessees. Of tlle 1st mort. bonds only -(V. 28, p. 144,200; V. 29, p. 253,435,632 V, 30, p. 142, 170, 651;
$4,,054.000 were outstandinQ Dec. 31, 1880, and of the 2d mort. only v. 31, p . 21; v. 32, p. 206 )
·
.$3,902,000, the balance bemg in the sinking funds. Operations and
Po1·tland d: Rochestcr.-Sept. 30, 1880, owned from Portland, Me., to
earnings for :five years past were as follows:
Passenger Freight (ton)
Gross
Net
Div'd Rochester, N. H., 53 miles. Put in the hands of a Receiver F'ebruar;r,
1877.
The bonds series A and B were issued to the cit,y of Portland m
Years. Miles. Mile age.
Mileage.
Enrnino-s.
Earnin1rs. p. ct.
1876 .... 461;! 107,790,180 567.972,005 $7,853,§48 $3,066,687
7 exchange for city bonds. 011 which the city pays interest. July 8, 1879
the
interest
of the ci:;y in this road was sold to the Receiver. On Oct.
1877 .... 468 76,466,488 430,998,281
7,020,545
2,956,147
7
1878 .... ·468 77,8 19,493 637,470,506
7,872,476
3,529,085
7 1, 1880, the interest due and unpaid amounted to $576,000; . and pro1879 ... . 468 86,406,476 803,053,260
8.461,563
7 ceedings have been begun to foreclose the $350,000 mortgage. Gross
3 ,720,298
.l.880 . ... 468 104,287,111 806,257,399 lu,096,819
4,778,210
7 earnin[::~ in 1879-80, $162,633; net, $24,728. (V. 28, p. 41, 625; V. 29,
p. 4.2; v. 32,p. 181; v. 33, p. 461.)
-(V. 30. p. 6'74; V. 32, p. 6'7'7.)
Pittsln,rg d: Lake Erie.-Dec. 31, l 880, owned from Pittsbm·g, Pa., to
Portland Saco cl! Portsmouth.- -Portland, Me., to Portsmouth, N. H., 51
Youngstown., 0., 68 miles; branch line to Newcastle, Pa., 2 miles; total, miles. It was leased May 4, 1871, t• the Eastern Railroad, Mass., at 10
.,0 miles. Opened F eb. 1, 1879. On Dec. 31, 1880, equ1pment notes, in- per cent on stock. Lease rental changed May 21, 1877, and now 6
cluding interest, were $427,423; r eal estate mortgages1 $198,0f>3; float- per ceRt. No debt. (V. 28, p. 580.)
·
ing debt, $96,078. Gross earnings in 1879 were $335,648,
net, $157,923;
Portsniouth Great Falls d: Oonway.-Conway Ju~ction, Me., to North
gross in 1880, $841,256, net, $442,244. The Lake S. & Mich. So. sub- -Conwa.y., N. H., 71 miles. The Eastern Railroad in Maasachusetts hu
Aeribed for$200,000 of the stock. (V. 30, p. 141; V. 23, p. 62, 101.)
made a 1ease of the road for 60 yea.rs from December 1, 1878, with a guarPittsburg Vfrr1inia cl! Oliarleston.-From Birmingham Pa., to Monon"'a- anteed rental of $45,000 a year, which pays 412 per cent on $1,000,000
bela City, Pa., 30 miles. The stock is $676,613. Of the bonds, $500,000- bonds, and the stock is to receive the same dividends as the stoQk C>f the
are owned by the Penn. RR. Net earninu-s in 1876 were $40,346; in lessees. The total stock is $1,150,300, of which the le.asee11 e>wn
l.877, $34,640; in 1878, $52,298; in 1879, $27,084. (V. 28, p. 113.)
$551,300. (V. 27, p. 15, 97, 115, 228.)
Cin. Street Conn. bds.
Miscellaneous ..... .. .
.Profit & loss balance.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
l>-77.
$
262,500
53,210
1878.
$
262,500
70,648
1879.
$
262,500
65,500
1 880.
RAILROAD STOCKS AND BONDS.
xlix
8nbt!llcrlben will eonCer a great f'aTor by glTlng Immediate notice oC any error clls cowered In thes e Tablets.
DESCRIPTION.
INTEREST OR D IVIDENDS.
B onds- hinci
Miles D ate Size, or
A
t
- - - - - : - - - - -- -- - - - - - - - 1 p a . l ,When Due,
explanation of column beadings, &e., see notes of
of
Par
Ou~t1~:tng Rate p er When Where Payable, and by Stocks-Last
on first p age of tables.
Road. Bonds V al11e.
Cent. Payable
Whom.
D ividend.
oiuh d: Do1'er-Stock . ... .. ........ . .. ....... . .
ghluepb'ie Hm·tford d: Boston-1st and 2d mort .
· nee.! Springf.-lst M. ,end. by City Prov.) .
nee (I: Worcester-Stock ...................... .
ew bonds ........ . ................ . ........... . ... .
agh d: Gaston-1st mortgage.·.................. .
ing d: Oolumbia-lst mortgage, coupon ..... .. .
mortga~e. oou~n . ........... .. .. . .. .. .... . ... . .
anCt1Ster 6i Reading, 1st mortgage ........ . . . ... .
issetaet·
d:
Sm·atoga-8tock . . . ........ . . . .. ..... .. .
st mortgage. consolidated (for $2,000,000-) ..... .
nebeck ti: Oonn.-l st mortg a ge, gold ........ . .. .
mond & Alleghany-1st mortgage, gold ..... .. .
.11,mond d: Dan1"Ule-Stock ... . .. .. ..... .. .. .... . .. .
tate sinking fund loa n .. . .. . ... . . .. ..... ...... . .
d mortgage, consolidated , coupon or registered.
e neral mort., gold (for $6,000,000) ............. .
iedmont branch, 1st mortgage . ................. .
orthwestern, N. C., 1st mort.,gua r . . .. . . ...... ..
iolunond York River & Ches., 1st mortgage ... .. .
do
do
2d mortgage ... .. .
'd l!redericksbu rg ti: lPotomac-Boncls, ster .... .
ollar loan ........................................ .
,oupon bonds of 1 890 ............................. .
upon bonds of 1901 .. . ......... .... ....... ... . . .
hmond & Petersburg-btock .... .. . . . . ...... . .... .
st mortgage, coupon .... • •• •• • .............. . .....
e:m~1~Wi,
·Pi: "iei-.' il.' d ·w: ao:..::Siocii.::::::
ter.. Genesee Valley-Stook ................. . .
~
ester &'PUlsburg.-lst mo1·tga,ge .............. .
comes (non-oum ulative-) .. . . .. ••......... . ...... .
st,mortgage, extension, gold ............ .. ...... .
ooruebonds ...................... . .............. .
uipment bonds .............. . ........ . ........ ..
--·
11
42
23
67
0
97
40
40
15
181
79
35
250
189
141
14 1
48
29
38
38
·25
25
25
100
18
108
iiio
~~~
- - - - ·$ 100
i872
1877
187 3
1862
1864
1873
1871
i,ooo
100 &c.
1.000
100 &o.
100
1,000
1,000
100
1867
1874
1868
1873
18 73
1880
100 &c.
1,000
l,0OJ
1 ,000
1 ,000
1,000
is10
1,000
500 &o.
iss"i
100
1 ,000
1 ,000
1 ,000
1,000
188 1
11881
1.~.1
·ioo
ortsmotdh if .Dotier.-Portsmontb., N . H., to D over, N . H., 11 m iles.
ened February 1, 1874, and loosed for 50 years to Ea.Btern of New
hire &t 6 per cent per annum on the stock. Operated now by
tern (Mass. ) A suit as to rental was deoided April. 1 8 80 . Frank
es, President, Portsmou t h, N. H. (V . 30 , p. 358,519 ; V . 3 1, p . 205. 1
OU(Jhitapsie Har tford ti: Boston.--Sept. 30. 1880, owned from P ough•
Y ., to New York State Line, 47 miles. The Poughkeepsie &
tern RR. was opened in 1872, and was &Old in foreolosure May 15,
5 , and the present company organized. It connects with the Conneo•
t ·w estern R R. The stook is $850,000. In 1878·9, gross earnings
"51,844 and expenses $43,329. In 1879-80, earnings, $56,lOl;
penses, $50,012. G. P. Pelton, President, Poughkeepsie, N. Y .
mdencc & Springfield.-Providence, R. I., to Pasooag, 23 miles. It
proposed. to extend the road to Springfield, Mass. Stock is $517,150.
1878-9, gross earnings were $79,988; net, $39,302; ·in 1879-80, groBB
,125, net, $39,304. William. Tinkham, President , Providence, R . I.
O'IJidence & Worcester.-8ept. 30 , 11381 , owned from Providenoe, R. I .,
Woroestei·, Mass., 44 miles·, brtt.llohes, 7 miles ., leased Milford & Woonket RR. and Hol)~inton RR., l5 miles; total operated, 66 miles. In
8 1 new stook -for $500,000 issued for improvements, f\Dd stock.holders
•e the right till J uly 1, 1881, to take one new sbare ~t par for eaob four
~ owned Operations and earnings for five years past as :follows:
Passenger
Freight (ton) Gross
Net
Div.
- .l l"S.
Miles.
Mile 11g-e.
Mileage.
Earnings. Earnings. p. c .
76-7 .. .. 66
13,592,849
18,862,705 $904,635 $245,299
4
77-8 .... 66
13,971,108
17,916,241
865,792
285,731
4
8-9 .... 66
13.753,392
19,286,814
914,476
364,049
5
7 9-80 .. 66
15,941,739
23,669,729 1,064,801
332,813
6.
80-8 1 .. 66
. .........
1,039,6'/ 1
303,457
5
(V. 32, p. 206; V. 33, p . 5 6 1.)
'[)616, N .
Raleigh ti Gaston.. -From RaJ.eigh to Weldon, N. C .. 97 nrlles. Stock,
,500,000. Dividend of 3 per cent }laid October, 1881. Earnings for
e· ,-ears pMt were as follows:
Gross
Not
Earnings.
Earnings.
Yee.rs.
Miles.
$ 261,142
$96,110
4-5 .............. ... . .... ........ . 97
242,245
88,701
5-6 ............................... 97
234,511
85,750
87 6--'7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97
242,478
107,185
877-8 . ... .... . ... .. .............. ... 97
295,051
115,343
9 (14 months) ........ . .. . ..... 97
-(V. 27, p . 9 4 .)
Reading & Oolttmbia.-From Columbia to Sinking Springs, Pa., 40
ilea; branches, 12 miles; Lancaster & Reacting Railroad, leased, 15
.- ea; total operated, 67 mileg. Stock, $958,268. The road is controlled
nd operated by Philadelphia & Rea.ding, but accounts k ept separate.
earnings in 1 879, $274,844; net earnings, $100,146; payments for
:terest a.nd rental, $94,930 .
.Ren.sselaer d: Sa·r atoga.-Bept. 3-0, 1880 , owned from Troy to Whitehall,
.Y., 73miles; branches, Albany to Waterford., 12 miles; to Green Island,
mile; to Glens Falls, 6 miles; to Oa~tletown, Vt., 14 miles; to Rutland,
ti •• 6 2 miles; Balston to Schenectady, 1 5 miles; total l ine and branches,
83 miles. It was a consolidation of several lines, and tbe Delaware &
u dson Canal Co. leased the whole March 1, 1871 , at a rental of 8 per
ent on the stock and 7 per oont on the bonds. The earnings given
ei.ow include the New York & Canada Railroad (150 miles). Opera. ODS a.nd earnings for four years past were as follows:
Net
Div.
Passenger 1''reight (ton)
Gross
eal"S. Miles.
Mileage.
Mileage.
Earnings. Earnings. p .c.
$660
,195
8
876-7 .. 332
18,761,702
30,718,974 $1,826,942
754,346
8
877-8 .. 332
19,292.7 94 · 32,283,281
1 ,823,360
506,782
8
878-9 .. S:--J2
19,536,543
3 8 ,80!.l,900
1,911,465
8
879-80. 3 32
21 ,797,9 13
54,333,707
2,470,367 1,160 ,344
(V. 29, p . 581 : V . 3 1, p. 357. 483; V . 32, p 98 .)
Rhinebeck ct; Connectwut.-Bept. 3-0, 1880, owned from Rhinecliff, N.
~ to Boston Corn.ers, N. Y., 35 miles ; leased, Boflton Cornet's to State
·ne. 6 roll-es; total operated, 4.1 miles. Stock. $679,300. Gr0Ss earn•
ngs · in 1877- 8, $55,951; net earnings, $1,162; r ental, $7,833; in
878-9-gross, $69,291; :ri.et, $10 131; r ental, $8, 000; 1879-80-gross,
5,789 ;" net, $5,902; r ental, $7,967. Ed.ward Martin, President, Red
ook, N. Y . . (V. 33, p. 102.)
.Richmond cf; .A.lleghany.-Ricbmond to Williamsons, Va, with branches
e Lexington, 250 miles. The company owns by purchase the property
francbiaes of the James River & Kanawh a Canal Co. Tlle stock is
0.000,000. In June. 1881, consolidation with the Ohlo Cen. was voted,
n t.be following b asis: The stookbolders .o f tlle R. & A . Co. to reoeive
,000,000 of stock and $4,000,000 7 p. o. income bonds of the new
pany, the outstanding $ 5 ,000,000 R. & A. stock to b e retired; the
•mo Oen. stookllolders to reoeiv:e $15,000,000 in n ew stock aa<l. provision
a.de to retire their bonds ($8 ,400,000). See V. 3-3. p. 305. The roa<t is
be extended t :> Ohio River 254 miles, and oonnect wit b the Ohio CenraJ. For construction of River Division $5,0 00,000 bonds were issued,
· ., for $10,000 cash, $8 ,000 in mortgage bonds, $ -3,000 in income
ondi! and $10,000 in new stock. (V. 31, p . 830, 653; V. 32, p.' 579,
13, 686; v. 33, p .12, 4'j. 102, 154, 2@2, i26, 305, 680, 7 16.)
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,
1:000 100
188-0
1875
_____ ____ ----,·- ---------,
I
$769,000
535,000
500,000
2 ,500,000
1 ,242,000
820,000
650,000
350,000
350,000
7,000,000
1,925,000
800,000
5,000,000
4,000,000
420,638
1,228,100
2,910,000
5 00,000
500,000
900,000
400,000'
58,216
316,590
150,000
300,000
1,009,300
125,000
75,000 .
3,000,000
555,200
1,300,000
1 ,870,()()0
2,40 0,000
3,200,000
160 ,000
3
J. & J .
P ortsmouth, Trell8,
July, 1 8 81
7
3
J ..&. J .
J. & J .
..&..J.
M.& S.
.r. &D.
J. & J.
J. & J.
M &N.
Providence:Am: Nat.Bk
Providence, Office.
do
do
Phila. ,Pa.,& Ral' gh,N .C.
N. Y ., Union Nat. Bank.
Columbia, First Nat.B'k
Phila ., Co.'s Office.
N. Y., Nat. B'k Com'rce.
N.Y., Del.& H.Ca n al Co.
.July·
.i892
Jan. 2, 1882
1897
·Jan., 189S
Mch. 1, 1882
June, 1884
.July 1, 1893
Jan. 1. 1882
Nov., 1921
1\:easi.-ire:r
.Juiy. ·i; .i92()
Nov. 15, 1881
1880
May l,'85&'90
1915,
1888
1902"
1894
1890
1885
1880-8 5
1 890
1901
Jan. 2, 1882 ~
1882 to '86
May 1, 1915.
6
8
7
7
7
4
7
7
i g.
J .. &.J. N. Y.,
of Co.
Q.-F.
.r & J. N.Y.,Mero;ntiie N at.Bk.
6
M. &N.
do
do
6
6 g. J. & J.
do
do
A. & 0.
do
do
8
A..&, o.
Richmond.
6
J. & J .
do
8
M.&N.
do
6
London.
.T. & J .
Richmond, Office.
6&6f" Various
J. & J. Pbil.,Townsend W.&Co.
8
.&N.
do
d0
6
Richmond, Offi ce.
3
J. & J
do
A.. & o.
do
8
do
do
6&7 M.&N.
. .&.J. N.Y., byN.-'f.L.E.&W.Co
:'.i
F. &A. N. Y., Union Trust Co.
6
..6.g.
6
7
1;
00
J a u:·1, i882:
F eb. 1, 1921
F eb. 1 . 1921.
1921
Richmond & West Point Terminal Railway & Warelwuse Co.-This company was incorporated by an act of the Le~islaturc of Virginia. of March
8, 1880. Its stock wa~ placed on N. Y. Stock Exchange in November~
1881 , and the balance shoot was published in the CHRONICLE, V. 33, p.
589. The company owned the following stocks, viz.: $2,550,000 Richmond & DanviHe Extensien Co., $120,000 Northeast-ern Railroad of
Goorgia, $3,166,300 Western North E:arolina RR., $100,000 Knoxvill ,
& Au,2"11Sta RR., $1,30 2,400 Charlotte Columbia & Augusta RR., $518,000 Vil 1n· M·d1
d R ·1
$1 001 000 Col
b. & G
·u RR .;
·g ia . 1 an
ai way,
, .•
um ia . r eenvi e
and t h e followmg b onds: $250,000 R10bmond & Danville general mortgage 6 per oente, $100,000 Kno xville & Augusta 1st mort. 6 per c ents►
$368,0 00 Spartanburg & .Ashevilie 1st mort. 6 percents, $850,000 Western North Carolina oon. 6 per oents, $15,700 miscellaneous townsh ip.
bonds. (V. 33, p . 589.)
Richmond & Damrille.-Sept.• 1881, owned from R ichmond, Va., to
Danville, Va., 141 miles; branches, 12 miles ; Danville, V a ., to Greensboro, N. C., 47 miles; Salem Junction to Salem, 25 miles; leased: West
Point, Va .. to R ichmond, 38 miles; Goldsboro, N. C., to Charlotte, 223
miles; Cnarlotte, N. C., t..o Atlanta,, 269 miles, and narrow gauge
branches, 70 m iles ; total owned and leased, 825 milee.
By ownership of a majmity of the stocir of the Richmond & West:
Point T erminal R ailway & Warehouse Company, the Richmond & Danville Railroad Company indireotly controls and operates the followinglines of railway: Charlotte Columbia & Augusta, 191 miles ; Columbia.
& Green v ille and branches, 226 miles; Spartanburg Union & Columbia,.
68 miles; Nortbea.stern of Georg a., 40 miles ; Western N. Carolina. Railroad, 186 miles; Asheville & SpartanbL1rg, 67 miles ; Virginia. Midland
Railway, 401 miles; total miles thus indirectly controlled through R.
& W. pt_ Ter'l R. W . Co., 1,182 miles; grand total of miles directly and
indirectly controlled by Richmond & Danville RR. Co., 2,009. The
officers are as follows: President, A. 8. Buford; Vice-President, T. M.
Logan; Beoond Vice-President, A. Y. Stokes; Treasurer, W. E. Turner.
~retary, Richard Brooke, all of Richmond, V a.. Followin!I_ are the
Directors: T. M. Lo~an, Joseph Bryan, w. H. Palme r, J. H . .vooly, A .
Y. Stokes, Ricbmona, Va; w. L . Owen, Black Walnut, Va. The annual
report for 1881 was published in the CHRONICLE, V . 33, p. 714.
The income account was as follows in four years past :
INCOME ACCOUNT.
1879·80.
1880-81
1878-9.
1877·9.
$
$
$
Receipts$
786,393
964,318
741,873
489,474
Net earnings . ... .....
42,542
28,100
1,529
19,868
P rem. on bonds . . ....
90,000
Bon ds R. Y . R. & C .. .... . ........ . ---···· ··· ·· .... .........
2 59,730
Bonds & st'k A . & C .... ... .. ... ..... .. .............. . .. . ...... . . . .
13,6.36
Netear'gsR.Y.R.& C. .....ii;i2·0
·····2i",i·os ..... ·:3,997
10a,441
Miscellaneous
21,248
30,054.22,740
29,125
Interest ..............
1,489,29~
854,180
806,589
531,24.8
T otal income .......
Disbursements-
Rentals paid . . . . . ....
Int. on funded debt..
320,000
252,4-1 0
320,000
246,444
320,000
244,570
320,000
245 .234
1
1i·.1i~
P1t~~n2iat{i;gd~bt: .....is'.995 ·····ici,60t ······g:745
Miscellaneous.......
51,200
10,151
63,005
5 .475
Total disb'nts......
642,635
587,499
637,320
703,185.
Balance . . ......... . . Def.111 ,387 Sur.219,090 Sur.216,860 Sur.786,114.
-(V. 32. p . 1 54 , 367, 422, 469, 488; V. 33, p. 66, 100, 102, 125, 386,
4 0 4, 413,461, 491, 580 , 714.)
Richmond Fredericksburg d: Potomac.-From R~c1:tmoncl, V3:., to Quantioo 83 miles. In Nov., 1881, there were voted d1v1dend certlticates for
$755,039 to be issued k holders of common stock (70 per cent on l'ach
share), to represent money spent on the prope rty out or earnings. The
common stock is $1,0 30,100 and guaranteed stock ~s $500,400. Gr088
earnings in 1879·80 . $330 ,361; net. $t55.718;
1880-81, gross,
$406,927; n et, $208 ,740. 2 per oout paid in January, 1382. ( V. 29 , p.
6 5 6 ; v. 31, p. 589,673; v. 33, p . .621 .)
Ric/l_.nio1ul, (I: Petersburg.-Sept. 30, 1881, owned from Richmond to
Petersourg, Va., 2212 miles; branch, 2 miles; total, 2412 miles. The road
has earned moderate dividends and the debt account is very small.
Operations and earnings for five yen.rs p ast were as follows:
Passen ger Frei." ht (ton)
Gross
Net Div.
Years.
Miles. Mileage.
Mileage.
E arnings. E a rn'gs. p.c .
1 876-7 ......... 25
2,097,594
1 ,576,263 $137,116 $17,271
·,;
1877-8 ...... . .. 25
2,016,684
1,59-1,670
140,069
62,553
'¼
1878-9 ........ . 25
2,176,390
2,047,436
154 ,622
73,071
4
1879-80 ...... 25
2,281,321
2,4G5 ,878
164,198
79/19 !-t
4
1880-81 . .. .... 25
2,457,617
2,7-16,44H
1 85,905
85,9 26
6
-(V. 30, p. 272; V. 33, p. 623.)
Rochester & Genessee Valle11.-Av on to Rochester. N. Y., 1 8 miles.
Leased July 1, 1871, in perpetuiw, to Erie Railway, and now operl\te<l
by New York Lalrn Erie & Western. Rental, $34,012. J ames .Brockett,.
President, Rochester , N. Y.
R<>chester<f:Pittslnirg.-Deo. 31, 1880, owned from Rochest~r, N.Y! t o
Salamanca, N. Y., 108 miles. Formerly Rochester & State Line, wll1ch
m
RAIL.ROAD STOCKS ~ AND BONDS.
1
[VoL.
xxxnr.
Subscribers wUl eonf'er a great CaTor by giving IJDDJ.edlate notice oC any· error discovered In tllese Tables.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Bonds-Prm.ciSii>~ror
Amount Rate per When Where Payable and by p~~~e~:·
Road. Bonds Value. OutstaTicling
Cent. Payable
Whom.'
Divi~nd.
For explanation of column headings, &c., see notes M:lres
on fl.rat p age of tables.
Rock Island d: Pooria-Stock ....... ... ........ ... ... .
~st mortgage .................... . ............... .
Rome Watertown d: Ogdensburg-8tock .. .... ...... .
lat sinking fund mort., Wat. & R. (extended) . ... .
General mortgag~, sinking fund .................. .
2d mortgage .......... , .. .. ... . ......... ..... . . ... .
Consol. mort .. convert. till July, '79, coup ....... .
Syracuse Northern (gold) ....................... .. .
Rutland-General mort. (8 per cent, reduced to 61 ..
New 2d mort. in exch. for equipment bonds, &c.
Sacramento cf.: Placerville -1st mortgage (S. V. RR.).
ls~mortga~e (8. & P. R~.) ........................ .
Saginaw Valtey d: St. Louis.-lat mortg., coup ..... .
St. Johnsbury .cf.:L. Champlain-1st M.,coup. or reg.
St. Joseph ct St. Louis-Stock .. . .......... _. .. ...... .
/Jt, Joseph d: ll'estern-lst M. St. Joseph & Pacific ..
2d mortgage ........... . .. . ....... ... ... .. .... .. ... .
Kansas & Nebraska, 1st mortgage ... . ........... .
Kansas & Nebraska, 2d mortgage .. ......•..... . ..
Hastings & Grand Isla.nd, lat mort .............. .
St. Loitis Alton cf.: Ter'T'e Haute-Stock ........... ... .
Pref. st'ck (7 cumulative) .....••...................
1st mortgage (series A) sinking fund .. } ~ >,~ {
lat mortgage (series B) sinking fund.. .o 2.o El
2d mortgage, preferred (series C).... ..
~ »~ ~
2d mortgage, preferred (series D)...... p. ee ~ !:'
2d n:ortga.ge, income... .... . ....... ....
Eqmpment mortgage. .. ............... o s.. 41
Income bonds, not cumulative ................... .
St. L. Hannibal d: Keok.-lst M .. conve:1ible till '87
St. Louis Keokuk d: N. W.- Stock($1,350,000 is pref.)
5 s·fili'g
t:it::ifttft:::::::::::.:::: ..·.·.·: .·.· ::::::::::::::::
St . .Louis ct San Francisco.-Stock, common .... . .. .
Preferred, 7 per cent, not cumulative ............ .
1 st preferred, 7 per cent do
. ... .. ....... .
D:r
- ----- -$-·•----- ---- ---·1-----------1------....
108
91
409
97
190
190
409
45
120
120
---·
1878
.....
1855
1861
1872
1874
1871
1 872
1878
..... 1855
48 1877
3412 1872
120 1880
76
--- 112 1876
112 1876
115 1876
115 1876
25
....
121
......
···-
207
207
207
207
----
1864
186'1
186!l
186,l
.... 186l
1870
1881
50· 1877
135
135 is16
135 1876
6 33
.....
6 33
....
633
----
-------
25,000 $l,rgg:888
100
5,293,900
100 &c.
418,500
500 &c.
1,021,500
1,000
1 ,000,000
1,000
5,500,000
500,000
1,000
100 &c.
1,500,000
100 &c.
1,500,000
1,000
400,000
1,000
700,000
1,000
446,000
1 ,000
596,000
100
1 ,000,000
1,900,000
100 &c.
1,200,000
100 &c.
1,900,000
1,200,000
375,000
100
2,300,000
100
2,468,400
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
1,000
300,000
1,367,000
100·&0.
72,000
2,700,000
1°,()00
1,620,000
1,000
1,080,000
10,500,000
10,000,000
4,500,000
w as opened May 15, 1878. In Feb., 1880, SylvanusJ. Macy, of Rochester,
was appointed Receiver of the company. The road had been l argely
assisted .by the City o:t Rochester. On Jan. 8, 1881, the road was sold,
and purchased by Walston H. Brown, of New York, for $600,000, and
was reorganized as the Rochester & Pittsburg, with capital stock of
$3,000,000 (increased Ma;r, 1881, to $4,000,000). In N.o vember, 1881,
an important consolidat10n was made. See V. 33, p. 623. For every
$.10,000 old bonds the Roch. & Pittsb. gives $5,350 1st mort .• $7,8 50 inoome bonds, and option to take $5,000 stock upon paymen~ of $ 500.
See plan in V. 31, p . 651. In Au~ust, 1 881, to extend 120 miles to
Brookville. stockholders of each 100 shares had the right to subscribe
$11,400 cash a nd take $6,000 in new mo:rt,gage bonds, $ 8,000 in n ew
incomes and 150 shares of new stock. In Deoember, 1881, the holders of income bonds were offered preferred st ock in place of the income
bonds. Gross earnings in 1880, $255,832 ; net, $34,693. (V. 30, p. 170,
223, 589; v. 31, p. 330, 536, 560, 653,673; v. 32, p. 71, 15e, 184, 437,
544; v. 33, p. 178,623, 642.)
10·
J ..&.. J. N. Y .. co·rn·Exch.Bank.
J. & J. N. Y ., Farm. I,. & T. Co.
M. & s.
do
do
J. & D.
do
do
7
J . & J.
do
do
7
A.. & 0.
do
do
7
· J. & J.
do
do
6
M. & N . Bost., Bk. of Redempt'n
5
F'. & A.
do
do
10
J. & J.
New York City.
6
J. & J.
do
8
M. & N. New York, 9th Nat. Bk.
6 g. A.\ & O.
Boston.
....
N ew York.
7
J. & J. N. Y., Kountze Bros.
7
J. & J.
do
7
.J. & J .
do
7
J. & J.
New York.
••••
.. ..
...... ... .
. ·b·d·a.
. . . . N. Y., Utflce 50 Wall st.
.. ..
do
do
55
7
.f. & J.
do
do
7
A. & 0.
do
do
7
F . & A.
dv
do
7
M. & N.
do
do
7
M. & N.
do
do
10
M. & S.
do
do
6
June 1
do
do
7
A. & 0. N. Y., Nat. City Bank.
. . ..
. ...
. .........
6
J. & J.
. . ........
....
....
. ...... ...
....
....
312
312 F ..&. A. N. Y .,
Office.
3
7
7
Co~pan_-y;s
8
Ja~. f~l900
July 15, 1875
Sept. 1, 1910
Dec. 1, 1891
Jan. 1, 1892
July 1, 1904
July, 1901
Nov. 1, 1902
1 898
1875
1907
Mny 1, 1902
Oct. 1. 1910
m
,fan. 1, 1915
Jan. 1, 1915
J au. 1, 1915
J a n. 1, 1915
. ...... .
. ... __ ... .
Apl. 20, 1881
189!
1894
1 894
1894
1894
1880
Jan. 1, 1894:
Oct. 1, 1917
. ...... .
Jan. 1, 1906
Jan. 1, 1906
. .. . .... ·
Jan. 18. U82
Aug. l, 1881
July 1, 1874. The terms of the Lease are an annual payment of $35,000
i~t!1~ years and then 30 per cent of groSB earnings, but $25,000 guar-
St. Joseph & Western.-Line of road: East Division-West St. Joseph
Kan., to Marysville, Kan, 112 miles; West Division-Marysville, Kan.,
to Hastings, Neb., 115 miles; Hastings & Grand Island road, 25 miles;
total, 25~. miles. This is a reor~anization ef the former St. Joseph &
D enver City road, which went mto the hands of a R eooiver in 1874
and was sold in foreclosure in November, 1875. On the foreclosure
of the two d1visions two companies were organized, the St. Joseph
& Pacific and the Kansa,s & Nebraska, with bonds as above. These
were consolidated as St. J oseph & Western, the stock is $4,100,000,
par $100. The present bonds have no lien on lands, as the land
~ant of 300,000 acres was put in hands of trustees for the benefit of the
holders 9r the old land scrip of $2,250,000; in June, 1880, a dividend of
1212 per cent was declared from proceeds of land sales. On the Kansa.a
& N ebraska bonas the tlrst coupon was <1ue July, J 881. The road is conRock Island d: Pem'ia.-Rock Island, Ill., to Peoria, Ill., 91 miles. This trolled by the U nionsPacific. The c oupons on St. Joseph & Pacifio bonds
ls the Peoria & Rock Island, sold in foreclosure of the fl.rat mortgaa-e due July, 1880, and ince, were not paid. (V. 30, p. 93, 170; v. 32, p .
April 4, 1877, the bondholders l;)ecoming the purchasers. Capital stoc'k, 44, 527.)
$1,500,000. Gross earnings, 1879, $387,580 ; net earnings, $89,833, out
St. Louis Alton & Tert·e Haute-Main line from Terre Haute, Ind., to
of which a 5 p er cent dividend was paid on the stock. (V. 28, p. 3 51.)
East St. Louis, 189 miles; branc.hes, 19 miles; leased lines-Belleville &
Southern Illinois R ailroad, 56 miles ; Belleville & Eldorado road, from
Rome Wate1·town d: Ogdensbitrg.-Sept. 30, 1881, owned from Rome to Du Quoin to Eldorado, 50 miles; total, 314 miles. This company
O gdensburg, 141 miles; branches: To Cape Vincent, 24 miles; to Pots- was a reorganization, Febru a ry 18, 1861, of the T erre Haute Alton
d am, 24 miles; Oswego to Lewiston, 146 miles; Sandy Creek to & St. Louis Railroad. The B elleville & Southern Illinois is leased to this
Syracuse, 45 miles ; leased Oswego & Rome Railroad, 29 miles ; total company for 999 years from Oct. 1, 1866. The main line (St. L. Alton
owned, leased and operated, 409 miles. It was a conS-Olidation October. & T erre ~aute/ was leased June 1, 1867, for 99 years to the Indianapolis
1861, of the Watertown & Rome and the Potsdam & Watertown rail- & St. Loms Railroad at a rental of 30 per cent of the gross earnings up
roads. The Lake Ontario Shore Railroad was fore closed September 22, to $2,000,000, 25 per cent on the next $1,000,000, and 20 per oent on
1874, and transferred to this company January 15, 1875. The Syracuse all over $3,000,000; but it was agreed that in no year should the renta~
Northern was foreclosed, and purchase<l by this company August 1 be leas than $450,000. The lease was guaranteed. by three other. com1875. The Oswego & Rome was l eased January 1, 1866, at 8 per cent panies (Sec V. 26, p. 614 and 654). The lease was nnprotltable and the
on stock and interest on bonds. The company has been in d efault on solvent guarantors refused to pay more than their one-third of the (le
coupons of the consolidated bonds since April 1, 1878, and proposes to tlciency, and a suit was begun, which is still p ending. In 1879-80 the
let the prior liens stand and give for the consolidated mortgage uew company recovered from the former purchasinO' committee, Meaars.
bgpds bearing 5 per cent; also to fun a the 28 per cent overdue interest (t o Tilden, Butler, Sage and Bayard, $400,000 for bon~s retained by them at
July, 1882,) into 7 per cent income bonds; to a ssess 10 p er cent cash on the time of r eorganization. The Belleville Bra.noh and Extension are
stock to pay floating debt, and give iucome bona.a for the assessment-. operated separately by this e.ompany, and earned net in 1879; $159,359,
Forecloslue under the consolidated mortgage is to be ma.de if n eces· in 1880, $176,471. The Belleville & Eldorado was leased for 9 85 years
Mry. Certificate& for $5,500,000 issued by the Farmers' Loan & Trust from July 1, 1 880, at a r ental of 30 per oent on. the gross earnings, but
Co. for bonds deposited Operations and earnings for five years past $15,400 p er year guaranteed.
wei·e as follows :
The preferred stock b as a prior right to a cumulative dividend of "l per
Passenger Freight (ton)
Grosa
Net
cent before any is declared on common. It is also convertible into com
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings. mon at p a r; but shall not receive a ny dividend as common stock for the
1876-7 ....... 409
17,549,628
26,732,738 $1,248,842 $336,708 time it was held as preferred. In J anuary, 1881. the company declared
1877-8 .... .. . 409
15,199,509
24,967,418
1,203,786
350,747 3 p er cent in cash on th d preferred stock a nd a fterward settled the re
1878-9 ....... 409
20,517.456
25,914,496
1,143,288
308,648 maining 55 per cent of accumulated dividends by tho issue of incom6·
1879-80 .•... 4.09
16,402,043
43,538,148
1,467,894
487,738 bonds. (V. 32, p. 147, 336,467,569, 579, 641.)
1880-81 ... .. 409
17,417,353
45,887,851
1,510,442
284,038
Louis Hannibal d: Keolcuk.-Fr<>m Hannibal, Mo., to Keokuk. This
-(V. 26, p. 334: V. 28, p. 276; V. 29, p. 68, 581; V. 31, p. 406 is St.
new road under construction. To be completed to Wentzvllle (St. L .
653 ,659; v. 33, p. 4!)1, 502, 687.)
' W.a &
P. RR.) by Sept. 1, 1881. The bonds w ere offered in New York,
.Rutland.-From Bellow's Falls, Vt., to Burlington, Vt., 120 miles. This March, 1880, at $12,000 p er mile. (V. 29, p. 539, 608.)
road has been t hrouo-h many chano-es. It was leased to the Central VerSt. Louis Keokuk & Northwestern.-Keokuk, Ia., to St. Peters, 135
mont in D ecember, 1'870, for 20 y~rs, but the lessee became insolvent miles.
The :Mississippi Valley & Western Railroad was sold April 14,
and :finally a modi:fl.cation of the lease was made, giving $ 250,000 pe:i 1875, and
this company organized July 1, 1875. Road completed in
year as a minimum rental and $8,000 for organization expenses. The Autumn
of 1879. Income bonds a bove were oririnally a part of
bondholders agreed to acce~t 5. per cent bonds in exchange for equi~•
:first mortgage bonds, but by a,,,"Teement ·they were changed
m ents and 6 per cent bonds rn lieu of 8 per cents. The common stock IS $2.750,000
into their present form. Gross earnings year ending Oct. 31, 1880,
$2,480,600 and preferred $4,000,000. 112 percent paid on pi;_eferred $414,597;
net, $-16,047. (V. 33, p. 256.)
stock August, 1881. (V. 30, p. 118; V. 31, p. 124:, 153,484; V. 33, p.
1 54.)
St. Louis & San Francisco.-Dec . 31, 1880, owned from Pacific t o
Sactamento .& Placerville.~aci:a.m ento, Cal., to Shingle Springs, Cal., Seneca (main), 292 miles; branches-Granby branch, 2 miles; Orongo,
48 miles. This was a consolidation of the Sacramento Valley and the Mo., to Joplin, 12 miles; Jo11lin to Girard, 37 miles; Carbon Branoh, 4
Folsom & Placervme railroads, April 19, 1877. Capital stock, $1 756 - miles · Peirce City to Osw ego, Kan., 73 ruiles; total owned, 420 miles;
0 00. Gross earnings. 1880, .$132,000; net earnings, $60,278. L ~land leased and controlled-Oswego to Wichita, 145 miles; Plymouth t o Sta~
Line, 32 miles ; State Line to Fayetteville, .Ark., 38 miles; Seneca to
/3tanford, Pres:d ent, San Francisco.
Vinita, I. T., 34 miles; total leased and controiled, 24:9 miles;, total
~aginaw Valley cl. St. Louis.-1:<°'rom Saginaw to St. Louis, Mich., 35 operated Dec. 31, 1880, 669 miles. This company was organized. Sept.
miles. Road open ed J anuary, 1873. Has a traffic guarantee from 20, 1876, as successor to the Atlantic & P acific Railroad. The latter waa
Michiian Central. Capital stock, $264,8 04. In 1 878, gross earnings char tered by act of Co~~ress July 27. 1866, and embraced the Soutla.
were :i:;84,952; n et $51,.9 67. Interest payments, &c., $53,728. In July Pacifl.c Railroad (originauy the Southwest Branoh of the Pacific Railrc,ad
1879, mana~ement was transferred to the Detroit Lansing & Northern'. of Missouri), which was consolidated with the Atlantic & Pa-Oitic road
October 25, ;l.870. The South Pacific Railroad had a. grant of Ian.dB
-(V. 27, p. 004; V. 29, p. 96.)
oy act of Congress June 10, 1852, of 1,161,205 aores. The Atlantic &
St. JohnsburiJ ~ I:a_ke Champlain.-This. was the Portland & Ogden ~- Pacitlc received. about 500,000 acres ·of land. The South Pacifio landl!I
showed
581,009 acres on hand January 1, 1881. Atlantic & Pacific 1.a.n.Elrt
bur~, Vermont D1V1S10n, and was reorgaruzed under this title in 1880.
Prererred stock, $,1,298,000; common stock, $2,550,000_. Net earnings showed 293,282 acres on hand at iw,me d ate, and for these land.a (A. & P.)
the
seoond
mortgage bonds,..class B, are receivable in payment. T~
year1880·1,$51,667. (V. 30, p. 651; V.31, p.21,39,; V.32,p.145,
interest .on bonds "B" and "C " is 4 for 1882, 5 for 1883 and 6 after
336,422; v. 33, p. 202, 327,)
ward. The trust bonds of 1880 are secured by d eposit of 7 per cen~
St. Joseph d: St. Louis.-St. Joseph, Mo., to Lexington, Mo., 76 miles. mortgage bonds of the St. Lou.is Arkansas & T exas RR. and .Toplin RR.
Present company is successor to the St. Louis & St. J oseph. R ailroad sold The general m-ortgage of 18 81 for $30,000,000 is made t.o tbe United
in foreelosure February 8, 1874. Has no funded or floating d ebt. 'The States Trust Company as trustee, and enough reserved to take up all
St. Louis Kansas City & Northern took a lease of the road for 99 years prior debt. First preferred stock bas prior right to 7 ~er cent (non
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Federal Reserve Bank of St. Louis
DECEMBER,
RAILROAD STOCKS AND BONDS.
1881.)
Ii
Subttcrtben wtll eonCer a grea, filvor by giving lnunedlate aotlce of any error dl•co-,,.ered In theae Table••
DESCRI l'TION.
INTEREST OR DIVIDENDS.
Bonds-Prindi
--------'--------------1 lliles Date Size, or Amo t - - - - - - - - - - - - - - - - - pal,When Dul!!•
For explanation of oolnmu beadings, &e., see notet< .of
of
Par
Outsta~in,. Rate per Wh&n Where Payable, and by Stocks-Last
on fl.Mt pag ~ of tables.
Road. Bonds Value.
•~
Cent. Paya.bla
Whom.
Dividend
---------------------1--·--·
---·1 ------1------------------1-----St. Loui8 San Francisco - ( Continued,
~
J-
1st mortgage (South Pacific), gold, (land grant) . . .
2d mortgage bonds, A .... . ....... .................
do
do B, gold ............... .........
do
do C, gol-1 ... . ....................
Equipment mortgage, gold .. . . ............... .. ..• .
Mortgage on Mo. & Western RR., goltl. .. . ... .. ...
Trnstbonds . ....... ... ........... ....... ..... .... ...
St. Louis Wichita & Wes tern ........ .. .......... ...
Gen. mort., g old ($30,000,000), coup. or reg ......
Joplin RR. bonds ..... ... ... . .......................
St. Loui.s Texas ti Gitlf-lst mortgage ... .......... ..
In-ooma land grant bonds .. ...... ........... .. . .. . .
St. Louis Vand.alia <t Terre Haute-1st M. s. f. guar
2d mort., sink. fund <$1,600,000 gua.r.) ...........
St. Pai,l ti Dul1tthr--Preferred 7 per cent stock .....
Common stock .....................................
1st mort. bonds, coup. or reg .. . . . .......... . : .. ...
St. Paut Minneapolis d: Manitot>a-Stock ............
1st mortg:..ge, St. Paul t o St.A .. ................ - ..
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 ($12,0'0IJ per mils) ......
SandlusJcy Mansfield d: Newark-Re-organized stock
1st mort,lrage. new . ... ... ..... ............... .. . ...
San .Francisco <l North Pacifi-e-Stock . ... ...........
~awannah d: Oluwleston--Stook ...............•......
O. & S .. , guar. by S. C ...... . .......................
Ftrnded int. bonds, S. & C. RR., ~ar. by S. Oar ...
1st mort~age, Savannah & Char eston RR ...... ..
l<Jrida & lVest.-COnsolidated 1st mort.
Southern Georgia & Florida, 1st mortgage . ... ....
do
do
2d mortgage ........
8atiannah Grijfind:N.Ala.-lst mort-gag-e ........ . , .
&he,iectady & Duanesburg-1st M .. guar. D. & H . .
8a'Dannah
1868 $500&0. $7,144,500
6 (l. J .. & J. N. Y., Company's Office July, 1888
6 g. M. & N.
1876 100 &o.
500,000
do
do
Nov. 1. 1906
1876 500 &c.
2,766,500 3 &o.g. M. & N.
do
do
Nov. 1, 1906
1876 500 &c.
2,400,000 3 &o. g. M. & N .
do
do
Nov. 1. 1906
1,000
188u
639.000
7 g. J. & D .
do
do
June 1, 1895
·-84 1879 1,000 1,100,000
6 g. F. &A.
do
do
Aug. 1, 1919
...... 1880 1,000
1 ,350,000
6
....
do
do
1920
1879
2,000,000
6
1919
---.A.ii. 1881 1,000
5 g. J. & J.
July 1, 1931
....
200,000
.... . ... 1~000 2,500,000 ..6.
.....
1.000
2,500,000
. ...
J. & J . N. Y., Thll:d."Nat. Bank. Ja1t:i·.--i897
ii5s 1867 1,000 1,899,000
7
1,000
158 1868
2,600,000 ·
7
M. & N.
do
do
May 1, 1898
169
....
. ....
4,705,606
10 8.
. .•.
. . ... . . .. .
Nov. 14, 1881
.....
169
4,055,407
A.ug.. 'i,""i931
F. ·&·
169 1881
1~000
1,000,000
5
100 15,000,000
861
.... N.Y., J.S.Kennedy&Co. Aug. 1, 188J,
3
---·
10 1862
1.000
M. & S.
120,000
do
do
1881
8
1,000
76 1862
1892
366,<AAJ
J. & J .
do
do
7
7 ,221,700
656 1879 100 &c.
7 g. J. & J. New York and London.
1909
1,000
Oct. 1, 190!t
656 1879
8,000,000
6 g. A. & 0.
do
do
..... 1880 1,000
2,400,000
6 g . M. & N.
New York Agency.
Nov. 1, 191<J
116 --·50
1,072,000
.. .. 1st N. Bk., Sandusky, 0. Oct. 1, 1875
2
1,000
116 1869
2,300,000
J. & J. N. Y .• Union Trust Co. July, 1902
7
..... .
94
3,750,000
....
.
...
---·
111
.. .. ....
1,000,000
.....
·--·
M.- & .8. Charleston: ist"ifa,t. Bk. March 'i;'i877
101 1853
500
505,000
6
1868 100 &c.
111,800
M. & S.
New York.
Sept. 1, 1899
7
ioi 1869
500
500,000
J. & J .
do
J an. 1. 1889
7
286 1867 500 &c.
J, & ,J.
J"uly, 1897 I
1,666,000
7
1,000
M. & N.
N. Y.,"ii::s:·Plant.
May 1, 1899
58 1869
464,000
7
1,000
M. & N.
do
do
May 1. 1899
58 1869
200,000
7
1,000
63 1871
500,000
J . & J. Bttvannab, Cent. RR.Bk July 1, 1891
7
14 ½ 1874 100 &c.
M. & S. D el. & Hud. Cana l Co. Sept. l. 1924
500,000
6
293
--··
---·
---·
m
-- ·-
0
0
0
00
A.
cumulative) ; then pref. entitled to 7 per oont; then common entitled
te 7; then all classes share in any surplue. The pref. and 1st pref. also
take precedence of any mortgages made subsequent to the creation of
said stocks.
On January 31, 1880, an agreement was entered into with the
Atchison Topeka & Santa Fe for construction of a through line to the
Pacific ooast on the parallel from Albuguerqne, on tbe Rio Grande,
to Ban Francisco. The road is to oost $25,000,000, and to be lmown
as the Atlantic & Pacilio Railway. Three trustees-John A. Stewart,
of ih6 U. 8. Trust Company, Warren Sawyer and H. P. Kidder, of Boston
are appointed to hold the stook in trust. The voting power iii to be
vested in aix directors of eaoh roi1,d. The old companies are to preserve
their separate organizations, and the gains of traffic on the extension are
tobe d1vided in equal proportions. Thetwo oompaniesdividetheissue of
bonds ($25,000,000). The cost of the first division will be about $12,500,000. Stockholders in the A toh. & Banta Fe and St. L. & S. F. companies
will have the right to subscribe for a 6 per cent bond at par. receiving
therewith a $750 6 per cent income bond. The Atlantic & Pacific Company will reserve the right to take from subscribers, before 40 per cent
of the subsoription has been paid, the first mortgage bond, paying back
the subscl'iptions advanced with interest, but leaving with subscribers
an income bond for $500 costing nothing. Eaoh company agrees to furnish one-half of this amount, and in addition to its share of bonds
receives also a bonus in stock.
The statement of ine0me account for first aix months of 1881 (V. 32,
E;Ji~e~t showed a balance of $233,662 over all expenses, including
Tbe annual report for 1880 (CHRONICLE, V. 32, p. 286) had the followng income account:
.
!NCO~ ACCOUNT FOR 1880.
To bonded interest . .... . . ........ .... ...... ... . ..... ....... ... . $705,049
157,uOO
To <liYidend No. 1, :first preferred stock ... . .................. .
105,021
To amount due leased lines ................................... .
39,14,1
To sundry expenses, salaries, &c. . .. .. . . .. . . . .............. ..
101,254
To interest ace.rued but not due on bonds .... : .............. ..
i~
i~
New· yorir.
and road sold in foreclosure May 1 , 1 877, and reorganized June 27th.
The preferred stock is received in payment for lands at par. Three
shares of common stock have one vote. and . each share of preferred has
one vote. Pref. stock has a prior right to 7 per cent from "income from
all sources, including land sales;" then common to receive 6 per oent;
then remainder of income to be applied to purchase of pref. stock. The
net income sinoe 1878 having been spent on improvements in 1881, it
was determined to issue 10 per cent of new preferred stock to the pre~
ferred stockholders of record Nov. 1, 1881, payable NoY. 14, to represent tbe oo.sh so spent in improvements. The company has a land grant,
of which about 1,276,000 acres remain unsold. In 1880 gross earnin~s
were $663,777; net earning-a, $93,182. (V. 29, p. 68. 118. 436: V. 3u,
p. 58,264,545; V, 32, p. 419,469,686; V. 33, p. 155, 329,359, 386,
491.)
·
·
St. F'aul Minneapolis & Manitoba.-June 30, 1881, o_wned ~:om St.
Pl_l,ul to St. Vincent and _Northwest boundary, 393 nnles_; Minnea~olis to Barnesville, 237 miles; Crnokf!ton to Opata, 38 miles; Morns
to Brown's Valley, 47 miles; Breckenridge to Durbin, 48 miles; Barnes•
ville to Moorhead, 23 miles; Grand Fork to Fargo, 75 miles ·; total, 861
miles. Tbis company was organized out of the St. Paul & Pacific RR. 7
the First Division of the St. Paul & Pacific Railroad, the R ed Ri:ver
Valley RR., and the Red River & Manitoba RR. The oompa:s.y took
2,000,000, acres of land M successor to the roads above named, which.
were foreclosed. The small a.mount of tbe two mortgages fi1·&t above
named, -$466,000, is all that remains of the old bonds, and the new
land-grant mortgage is practically a, first lien on the whole property at
$12,000 p er mile. The proceeds of land sales a re reserved by the first
mortgage trustees a,s a sinking fund for the redemption of the bonds at
or under 105 and interest. The second mort.o-a.ge bonds do not cover
the land. The company was organized May 2~, 1879, un~er the charter
of the st. Paul & Pa.-0i:fio Railroad. The Dakota Extension bonds are
issued at $12,000 por mile.
Annual report !or tbe year endin~ June 30, 1881, in V. 33, p. 254.
Gross earnings, $3,700,851, against $~,933,108 in 1879a80; net _e arnings, $1,845,168, against $1,546,037 m 1879-80 (V. 31, p. 21, 96, 153,
248 , 281,430; V. 32, p. 123, ~36; V. 33, p. 2li4, 470.)
$1,108,867
Balance, surplus................................ . ........... $28p,973
Sandusk11 Mansfi,el,d, tl: Newark.-Line of road, Sandusky, O., to Newark o.; 116 miles. A consolidation of several roads in 1856. Leased
By total gross earnings . ..................... ... . ......... ..... $2,698,370 February 13, 1869, to Central Ohio Railroad, guaranteed by Baltimore
Lesa operating expenses, impr9vements and taxes.... . .. 1,325,128 & Ohio :md new lease made February 23, 1 880, extending to December
1 1926 with option to tho Balt.. & Ohio Company to renew for terms
of 20 years ea.ch. Rental is $194,350 yearly till 1884; then $199,350
for 1884 and 1885 ; then $201,85 0 annually. It is operated a s Lake
Erie division of the Baltimore & Ohio system. In 1878-79 the gross
earn!ngs were $639 ,821, and n~t earnings, $189,l~~; in 1879-80 ~roas
earillilgs, $847,221; net, $208,803. (Vol. 29, p. 530, V. 30, p. 544.1
$ 1 , 398 , 84
(V. 31, p. 511; V. 32, p. 17, 44,286,437 ,686; V. 33, p. 528.}
°
St. Louis T~a!J ~ Gulf-~posed line from Marshall to Sabine Pass
and Galveston, T exas. Bends offer6d in London in September, 188 1,
l)!ll'oh_asers receiV!n~ witb each $1,000 bond a $1,000 income bond and
$500 lll stock. (-y. ;-:s3, p. 218.)
·
St. Louis Vandalia & Terre Haute.--October 31. 1880, owned from
East St. Louis to Indiana State line, 158 miles. Road opened July 1,
1870. It is leased to the Terre Haute & Indianapolis Railroad at a rental
· of 30 per cent of gross earnino-s. For the year ending October 31, 1880,
the total income was $465,920, and the year's ch arges against this sum
were $346,984; leaving a surplus for the fiscal year of $118,935,
which was applied t-0 the repayment of advances heretofore made to
this company by the lessee, leavin~ the balance to d ebit of profit and
loss, October 31, 1880, $201,798. '.rne annual report for 1879-80 wa
published in the CHRONICLE, V. 32, p. 1 20. Tlie fu·st mortgage and
$1,000,000 of second mortgage bonds are #!narantood by the iessees and
al.so by the Pitts. Cin. & St. Louis Railroaa and the Col. Obie. & I. C. Co.
The stock is $2,383,315 common and $1,544,700 preferred. 'I;'be preferred was issued for income bonds ($1,000,000) and for deficiencies
made up by the lessees. Thos. D. Messler, President, Pittsburg, Pa.
Operations and earnings for five years past were as follows:
Passenger
FI_:.e_i_1$bt (ton)
Gross
Net
Years.
Miles.
Mileage.
.Mileage.
Earnings.
Earnings.
1875-76 .. 158
16,180,710
45,972,258 $1,062,075
$247,393
1876-77 .. 158
14,827,425
50,618,136
1,052,208
207,067
1877-78 .. 158
13,092,370
58,722,821
1,054,6~7
158,685
1878-79 .. 158
12,974,971
fG,424,189
1,244,643
294,272
1879-80 ... 158
I7.309.9rn
96.544.226
1 ,552,801
44<-J,018
(V. 28, p. 19; V. 30, p. 116; "V. 32, p. 71, 120, 289; V. 33, p. 3~7.)
San Fraru;'isco & North Pac~nc.-Dec. 31, 1880, owned from Donahue,
Cal.,· to CloYerdale, Cal:, 56 miles; branches-from Fulton, Cal._. to
Guerne ville, Cal., 16 rmles; and San Rafael to P etaluma, 20 miles~
total 92 mile.s. This is a consolidation of several companies. In 1880
gros~ earnings w ere $3o2,179 and net earnings $157,167.
Savanna-h d: Oha rleston.-Savami.ah, Ga., to Charleston. S. C., 108
miles· Ashley River branches, 5 miles ; total, 111 miles. Formerly the
Charl~ ton & Savannah Railroad ; reor~anized in 1876 undor present
name, and opened March, 1870. D efaulted September, 1 873, and
then operated by a R eooiver. Sold in foreclosure June 7, 1 880, for
$300,000, a.nd turned over by C". P. Mitchell, ~ eceiver, to the new company, called the Chru:leston & Savannah Railroad. (V. 30, p . 6 25; V.
31, p. 230.)
Savanna.h Florida & Western,.-Savannah, Ga., to Bainbridge, Ga., 2~ 7
miles• branches : to Live O:i,k, Fla., 49 miles; to East Albany, Ga., 58
miles: other 3 miles; total operated, 350 miles. Tbis was a consolida.•
tion it'i. 1865 of the Savannah Albany & Gulf Railroad and the Atlantio
& Gull under t h e latter name. The Atlantic & Gulf road was sold in
foreclosure of the seoond mortga~e on N?vem_ber 4, 1879, ~nbject to the
consolidated mort.;aie and otner pr10r liens runountmg to about
$2,705,000. The ola sectional mortgages y et out_ amou~t to ab~ut
$335 000. The present company has been organized with a capital
stock of $2,000,000, and a dividend of 7 p er ceu~ was declared out of
the earniniss of 1880. The only r eport of earmngs roa?-e for several
years ~l¥!_ that published for 1880 m V. 33, p. 200, showrng net earnings of $365,080. (V. 33, p. 200.)
s~annah Griffin, & North 4.labama.- Oot., 1881. owned from Griffin,
Ga. to Carrollton, Ga., 63 miles. Operated in connection with Central
Railroad of Georgia. Capital stock, $1,010,900. In 1879-80 gross earn~
ings w ere $58,860, and net earnings, $20,693; in 1880-81 gross, $79,113;
net, $14,985. (V. 33, p. 569..)
Schenutady & Duanesburg.-From Qua ker Street Junction, N. Y., te
St. Pattl d Duluth.-Line of road, St. Paul, Minn., io Duluth, Minn., 156 Schenectady, N. Y., 14 mileR. Formerly Schenectady & Susqu~hanna
Railroad,
and was foreclosed in 1873 ; reorganized and leased m permiles; Btillwater & St. Paul Railroad (lea.sed), 13 miles; total, 169 miles.
Thie was the. La.he Superior & Mississippi Railroad, opened August 1, petuity to the Delaware & Hudson Canal Company. Lease rent al,
$30,000
pe.r
year, paying 6 per cent on bont;ls. Stock, $100,500.
1870, and leased to the Northern Paci:ftc. Default made January 1, 1875,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
RAILROAD STOCKS AND BONDS.
Snbaerlber■
[VOL. XXXIII.
will conf'er a great Cavor by giving lmmecltate notice of' any error· discovered In .these Tlibles.
I
Bmds-Prin.oi•
INTEREST OR DIVIDENDS.
DESCRIPTION.
_ _ _ _ _ _ _.....;.._ _.....;_.....;..-=-=..._;___ _ ,pa.1,When Due.
Amount
Miles Date Size, or
enPt_er When Where Payable, and by Stooks-Last,
Par Outstanding RaCte
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Payable
Road. Bonds '. Value. , - - - - on first page of tables.
---------------------1
-Schuylkill Valley.......Stock . . . ..... ...... .. .. .. .... ... . .
Scioto Valley-lat mort. (s. fund $13,000 per year>.
2d mortgage (sinking fund, $5,000 per year) .. .. .
r-consol. mortgage .............. ...... ....... . .... .. .
&at>oard d: Roanoke-Stock .......... . . ... ... .. ..... .
Shamokin Valley d: .Pottsville-Stock .. ............. .
lat mort~age, g old, on road and landR ........... .
,!ltenandoan Valley- l at mort. ($l5,000 per mile) ..
2d mortgage, income ($10,000 per mile; .. . ..... . .
General mort., ~old ($25,000 per mile) ... .... ... . .
Shenango ct: A.Uegnany--:-lst mortgage • • . ... .. . .. ... .
Shat·e Line ( Oonn.)-Stock .......... .... . .. . ... .... .
lat mo11igage ..... ..... . .. ........... . ....•. . .......
S wiix Oity a: Pacific-lat mortgag~ . .•...............
2d morfai:age (Government subsidy) . ... ...... .. .. .
Bomerset-lat mortgag-e, gold .. ... .......... .... . ... .
South
Oarolinn-StocK ......................... ..... .
l at mortgage, 11terling l oan .. .. . ..... .. ...... . .. .. .
lat mortg age, ..iollar bonds (L) .... ... ... . . ... . ... .
2d m~rtgage (for $3,000,000) ......... .. ... . . . .... .
Domestic bonds (I) ....... ..... . .. ........ .. . ... . ... .
Domestic bonds (K) ..•. . ... ... . . .. .. ... .. .. . ••..••.
1st consol. mortgage, g old (for $5,000,000) .. .... .
So. cf: No • .A labama-lat M., endor sed by Alabama.
Sterlin g mort., s. fund, guar. by L. & N ......... .
Soulh Pacific Ooast-Stock ...... ..... . ...... .. ..... .
iio1tthern Oent1·al (N . .LJ-lst mortgage ... ........ .
2d mort. gold ($400,000 end. by Lehigh V. RR.) .
1st mortgage interest bonds .... . .................. .
2d mortgage interest bonds ..... .. ...... .•. . .......
Southern Iowct & Ceda1· Rapids-1st mort., gold ... .
Southe1-,1, Maryland,-lst mortgage, g old .. ...... ... .
&>'ltthern Pac. of A.1·izona-lst m ort., gold,cp. or reg.
8outh. Pac.COal.)- lat mo11i.,go1d,land gr., cp. or reg .
s:i?t:e~e:,_e;,~;/3/ic~'/ir~,~i;;;:_Mort:.
co1ii,: ·o~ ·reg::
11
98
!)',
130
80
28
28
14.0
14.0
140
32
50
50
102
102
25
242
242
242
183
183
81
114
114
114
114
87
384
712
15
1 67
i876
1 879
1880
i871
1 880
1880
1881
1869
$ 50
500 &c.
1,000
....
100
50
500 &c.
.. ..
.. ..
1,000
500 &c.
100
lOOO&c.
500&c.
500 &o.
100
100
Var10us
500
Scioto ValleiJ.-Columbus, 0. , to Ohio River, 130 miles. Road opened
in. January, 1878. Stock is $2,500,000. Enough or the consolidated
mortgage is reserved to take up the fira-t and second mortgage bonds.
- (V. 27, p. 653; V. 28 , p . 525; V. 31, p. 88,445; V . 33, p. 93, 102.)
Seaboard & Roanoke.-Line of road-, Portsmouth, Va., to Weldon, N. C.,
8 0 miles. Road opened 1851. The company h as pa.id dividends for n
number of years. Of the stock, $1,057,100 is common, $200,000 is l at
7 per cent ~uar., and $44,200 is 2d guar. N et earnings 1879-80,
(V. 33, p. 559.)
S'ha1nokin Vallei/ d: Potts1Jille.-Line of road, Sunbury, Pa., to Mount
'Oa.nnel, Pa., 27 mues; branch to Lancaster Colliery, 4 miles; t otal, 31
miles. The roacl was leased February 27, 1863, to the Northern Central
Railway Company, with a guarantee of interest on the bonds and 6 per
·cent per annwn on the stock. The yearly reports will be found in the
'CHRONICLE with the reports of the Northern Central Railroad. Geo. B
\Roberts, President, Philadelphia.
Shenandoah Valley.-This road is completed from Hagerstown, Md.,
'to Waynesboro, Va., 142 miles. The companr, proposes t o extend southward :from Waynesboro t.o a conne ction with the Norfolk & Western
road. The general mortgage of 1881 is at $25,000 per mile to retire the
two prior mortgages and to construct new r oad. T he stock is $1,4.58,·
7&0. William Milnes is President, Philadelphia. (V. 32, p. 422,469;
v. 33, p. 48, 357.)
ShenanQ.o <I: A.lleghany.-Line of road, Shenango, Pa., to Bradx's Bend,
P a., 95 miles; in operation, Shenango to Hilliard, Pa. , 46 miles. The
road was leased to the Atla ntic & Great W est.ern, and" rental trust"
bonds were issu ed. The company made d efault in 1879, but tht
October coupons were p aid F eb. 21, 1880. (V. 29, p. 408 .)
Shore Lin e (Conn.)-Line of road, New Haven, Conn., to New London,
-Conn., 50 miles. L eased to New York and N ew Haven Railroad Company in per)tetuity November 1, 1870, at 1P.100,000 n et p er annum.
Chartered as N ew H a ven & N ew London R a ilroad; sold in foreclosure
and reorganized under present title June 29, 1864. Dividenda 319 in
Jan. and 4 in July. Operations and earnings f or five years past were
as follows:
Pas ei~er Freight (ton) Gross
Div.
N et
Mileage. Earnings. Earnings. p. c.
Miles. :Mileage.
Years.
1,473,634 $379,571 $108,083
·9 ,684,933
71n
1875-6...... 50
8 342,374
1,265,575
8,213,330
1.876-7.. . ... 50
49,869
317,978
1,363,500
7,870,04 9
1877- 8 ...... 50
101,539
8
299,08 6
1,426, 229
7,212,083
1878-9.,.. . . 50
143,171
8
349,111
1,918,831
8,782,782
1879-80 .. .. 50
154,486 712
-(V. 28, p. 40; V. 31, p. 509; V. 32, p. 559.)
Sioiu: Oity_ d: Pacific.-Line of road from Sio~ Cit~, Ia. , to Fremont,
Neb., 107 miles; l eased-Fremont Elkhorn & M1ssoun Valley Railroad
110 miles; total line operated , 217 miles. This was one of the s ubsidized
Pacific roads, but the interest on first mortgage bonds has not been fully
earned, and the United States Auditor of Railroad Accounts reports no
net earnings subject to the payment of 5 per cent to the United States.
F or the year endino- D ec. 31, 1879, the gross earnina-s were $470,590
and net earnings, $137,626. The ca:pital stock is $2,068,400, of which
$169,000 is preferred, r eceiving a clividend of 7 ~r cen / er annum.
A m ajority is oWLed by Cedar R apids & Missouri Railroa C.lmpany.
Oliver Ames, President, North Easton, Mass. (V. 27, p. 96, 253,374; \..
31, p. 46, 68,484; v. 32. p. 232.)
Somerset.-West Waterville, Me., to Anson, Me., 25 miles. An extension of 7 miles to Solon proposed . Capital stock, $377,573. Gross
earnings, 1879-80, $20,098, net, $3,580; 1881, grt as, $23,788 ; net,
$1,830.
South. Carol-ina_.- CharleE!ton to Hamburg, B: C., 137 miles; branches to
Columbia, 68 miles , and to Camden, 38 miles: total main line and
branches, 243 . D?,iles. A r eceiver took possession in September,
1877, at the smt o:I' 2d mortgage bondholders; a large part of
t ru.s mortgage was h ypothecated at 50 cents on the dollar to
aecure floating d ebt. A plan of reorganization to save foreclosure wna
made in 1880. In Janua ry, 1881, the committee made essential modi·
1J.cations of the plan (see V. 32, p. 1 23).
The sale was made July 2tl, 1881, and the road purchased byW. H.
:Brawley for the committee, for $1,275,000 over the tlrst mortg a ge debt.
'The la.st annual r eport was in the CHRO:SICLE, V. 32, p. 39!. Large
amounts have been expended out of t he earnings for improvements, and
ln 1 880 a bout $275,000 were !:IO spent for steel rails and equipment.
.Ea.rni!lgs fo r ti.Ye years past were ali follows:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(7)
8 74,500
1,000,000
200,000
1880
1,628,000
1868
1,628,0 20
....
4 50,000
1871
5,819,275
1,182,666
1868
1.051.500
1868
1,20 6,500
1872
1,067,500
500
1866
100
63.500
1868
2,300,000
1,000
1881
1 ,000
391,000
1870
5,075,0-ol.O
£ 200
1873
1,000,000
i B69 $1·,000 1,500,000
600,000
1872 lOOO&c.
575,050
1 77 210 &c.
42,000
1877 210 &c.
1,500,000
....
1870
500,000
9 ,604,000
'79-;80 1~000
1875 500 &c. 2 8, 872,000
2 50,000
1,000
1880
4 ,180,000
1,000
1881
Schuylkill Valley.--Port Carbon to R eevesdale. Pa., 11 miles; branches,
10 miles; total, 2i miles. It is an old road, and was leased to the Philar
delphia & R eading Railroa d from September 1, 1861, at an annual r ental
of 5 p er cent on the stock. Operations are inclucled in the Philadelphia
&: Reading repo11is.
.$236,452; lt:180-81, $232,495.
$576,050
1,294,000
177,000
603,()00
1,301,300
869,450
2,0 00,000
2,100,000
1,400,000
2~
7
7
7
4
3
7 g.
7
J. & J.
J . & J.
A. & 0.
J. & J .
M. & N .
F. & A.
,T. & J.
.. . .
··cfg.
A. -& ·o.
A. & 0 .
J. & J.
41.g
M. & S.
6
J. & J .
6
J . & J.
7 g. J. & J.
7
31.g
1
5
6
7
7
6
6
8
6
g. J . & J.
i, ;: l
A. &
J. &
g. A. &
g. J . &
g. M. &
0
0.
J.
O.
J.
N.
Philadelphia, Offlr.e.
N.Y., Winslow, L. & Co.
do
do
do
do
Phil.,'.rownsend,W.&Co.
Philadel phia,Treasurer.
do
do
N . Y., Clark, Post & M.
July 13, 18 1
Jan. 1, 189 6
April 1, 1 894
July 1, 1 910
Nov. 1, 1881
Aug., 1881
· July, 1901
Jan. 1, 1909
Pbiladeii-;hlQ: iiid N. Y . Api-ii'Cin21
N. Y. , N.Bk. of Coru'rce. April 1, 1 89
N. H ., Nat. N. H. Bank. Jan. 5, 1883
do
do
Maroh, 1910
N. Y .. Nat. Park Bank. ,Tan. 1, 1898
U.S. Treas., at maturity J an. l, 1898
. . ... ... ..
July, 1891
May, 1871
London.
1878 t o ' 88
1878 t o '88
Cityd!ank.
N. Y
Oct. 1, 190-2
Charleston .
April, 1891
N . Y .. N a t. City Bank. 1880 and 1892
New York Agency.
Oct. 1, 1920
N. Y., Drexel, M. & Co. Jan. 1, 1890
London, Baring Bros.
1903
a.:at.
0
F. & A. N. Y., Nat.. City Bank.
7
do
7 g. M. & S.
do
do
do
F. & A.
7
do
do
M. & S.
7
7 g. M.& N.
.. ....... .
6 g.
New'i:ork City.
6 g. J . . &.. J.
6 g . A. & 0 . N". Y ., C. P. Huntington.
do
do
A. & O.
5
6 g J . & J. N. Y., Company's Office
Aug·.. 1,· 'i,g99
Mar.
Aug.
Sept.
May
1,
1,
1,
1,
1882
1887
1887
1900
0
Mar.:·fa00-10
April 1, 1905
April 1, 1900
J a n. 1 1911
Gross Earnings.
Miles.
Yea rs.
$1,126,437
1876 . .. . . . . . . . . . . . . . . . . . . . . . . . . . 243
1,020,664
187.7... .. . . . . . . . . . . . . . . . . . . . . . . . . 243
1,011,861
1878 .. ... .............. .......... 24 3
1,052,023
, 879 . .............. .... . . ..... ... 243
341,962
1,217,756
1880 .... .. . ............. .... .. .. ....
- (V. 29,. p. 632; V. 30, p. 43. 358,4 09;494, o17', 568; 'f. 31. p. 153, 306,
623.)
589,
125,
p.
33.
v.
350,536; v. 32, p. 123,394,420,544,579;
Sov.th <I: North A.labama.-Decatur, Ala., to Montgomery. Ala., 183
miles, with a branch of 7 miles from Elmore to Wetumpka. The road is
controlled by the Louisville & Nashville Railroad Co., which OWM a
majority of the stock and the whole of a 2d mort. bond issue of $2,000,000, due 1910, which are pledged with the Union Trust Company aa
security for the L. & N. bonds, d ated June 1, 1880. 500,000 acres
of land in Alabama, largely mtneral, ua.vt, been transiecred to the
Louisville & N a shville Co. Common stook, $1,(61,767; preferred atoek.
$2,000,000. In 1878:..9 eross earnings were $873,196; operating expenses, $558,610; 11.et, $314,586; deficit to Louisv. & N. Co., $100,285.
&>utl1 Pac'i,flc Ooast-Dec. 31, 1880, owned from Dumbarton Point to
Junction (Felton), Cal.. 50 miles; leased-Alameda Point to Newark,
24 miles; Felton to Santa Cruz, 7 miles; total, 81 miles. There a.re no
bonds but unfunded d ebt of $1,870,286. Gr088 earnings 1880, $386, 469 ; operating expenses, $477,493; deficit,- $91,023. A. G. - Davia ,
President, San Francisco.
SoutMrn Oentral ( N". Y.)-Sept. 30, 1880, owned from Fairhaven, N.Y.,
to Pennsylvania State L ine, 114 miles. Road forms an extension into
New York state for Lehigh Valley Railroad, which compnny endorsea
$400,000 of second mortgage bonds. Capital stook paid in is $1,790,234.
Gross earnings in 1877-8, $462,906; operating expenses and ~ .
$320,056; net earnin!?B, $142,850. In 1878-9 gross earnln,..."'8 Wffi"e
$419,942; n et, $102,272; 1 87!J-80, grOSB, $4.55,467; net, $149,237. (V.
28, p. 351; v. 29, p. 629.)
Soitthern Iowa~ Oed.Rapids.- In progresa. ottumwa to Ced. R., I owa.
Southern Maryland.-Tho Southern Maryland Railroad ie designed to
exten d from Point Lookout, at the month of the Potomae River, to
Washington, where it will make connection with the Baltimore & Potomac Branch of the P ennsylvania Road, and with the Washingt9n &
Metropolitan Branch of the Baltimore & Ohio Road. The length will bo
77 miles. J. H. Linville, President, Philadelphia.
Southern Pac-ijlc of .Ariz-Ona.-Thla is the connecting line of the Sout hern Pacific of California, extending from Yuma to New Mex ico boundary,
383 miles. The Sto('.k is $19,950,000.
S<mthern Pacific of California. -Road in operation Av.rU. 1881 :
.Northern Division-San Francisco, Cal., to Soledad, 143 miles; Oarnad ero to Trcs Pinos, 18 mileR; to Monterey (leased), 15 mHN!; total, 176
miles; Southern Division-Huron to Los Angeles, 280 miles; Los Angel~
to Yuma, 249 miles: Los Angeles to Wilmi.Iigton, 22 miles; total 551
miles; tot al Southern Pacific, in Cal., 712 miles. At Goshen the Southern
pivis10n m eets the San Joaquin Branch of the Central Pacific, by which
1t reachos San Franmsco and the main ·line of Central P acific. The ·proJected 1i nes ar~ Soledad to ~rdo Junotion1 160 miles, and Mojave Junot.
to Colorado River, 278 miles. The Southern Pacific forms part of a
through line to El Paso, and th er e wm m eet the Texas Pacific. At its
terminus nt Yuma. it connects with the South. Pac. RR.of Arlzona,an indep enden t but closely affiliated company, some 385 miles, to aJunotion·
with the New Mex. Div. of 1 71 miles more to El Paso. A junction with
the Atchison Topeka & Santa Fe, thus forming a new route to the Paoifio
coast, waa made March 17, 1881. The bonds above are in soriea A, B, C.
andD, of which A includes $15 ,000,000 and B, C and D each $5,000,000;
there are also three other series, E and F of $5 ,000,000 each, . and G ()f
$6,000,000; these latter are to be i881led for n ew oonstruotion. Land
!ITant is 12.830 acres per mile, and proceeds of sales go to pay bonda.
1he total grant is estimated at 11,000,000 acres, of which 7,000,000
pert!l.in to road now built. Besides these sales a sinking fund of
$100,000 per annum goes into operation in 1882. Stock paid in ta
$36,763,900. The Central Paciilc Railroad Company. has taken a. leMe
of the southern division of this road for a. period of not less than fiTe
years from January, 188-0, and by the t erms o:I' the lease "if a railroad'
1s not completed 1n five years from that date, so that there is a conneetion of the Southern Pacific Railroad of California. with the Eastern system of railroads on what is kno wn as the thirty-second parallel line, th6
lease shall b& extended until suoh connection is made, provided t'l'U.0h
extension does not exceed five years longer, or ten y ears in all," fr&m
January, 1 880. By the terms of the lease, the n et r ental is $250 a.
month, or $3,000 a year per mile, and if it shall be reduced by mutual
con se-nt. the rental shall be at least sufficient t o pay interest on bonds.
In 1880 the net earnings were $442,765 on northern division and .
$1,675,248 rental on soutbern division; total, $2,118,014, out of which
were paid $1,762.140 for intere 3t and r ental, leaving a surplus of $355, 874. The Monterey road (leased) has a capital of $250,000. (V. 31, p .
1 54, l~f> , 248,359, 428,430,454, 560,673; V. 32, p. 99, 101, 182, 336,
4-20, 569, 628, 6;35, 660; v. 33, p. 23, 75,202, 502, 561. 623.)
Southern Pac·ifi,c of New Mexico.- Road extends from Arizona f31iate}
,
.
Line to the Rio 0-rand.e at El Paso, Tex.as.
DEcmmn, 1881. l
RAIUWAD STOOKS AND BONDS.
8111>8erlbers will eonCer a great f'aYor by gh1.ng Immediate notlee of any error dlseoYered In these Tables.
D ESCRIP'PION.
INTEREST OR DIVIDENDS.
Bond8-Pt1.ncfMlles D ate Size, or
Amount
/
pal,When Dne.
For explanation of column headin gs, &c. , see notes of
of
Par
Outstanding Rate per When Where Payable, and by Stocks-Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
- - - - - - - - - - - - - - - - - ----- ---- ·- -
$625,000
3,892,300
546,150
1,000
1877
962,000
1st mortgage ................. "· · . . .. . .. .. . .. . ... ..
Spuyten Duyvil d!PortMorris-Btook..... ... . .......
6
989,000
200,000
Slate Lined! Sullivan-lat M ., conv. (r ed'ble aft.'88)
29 i878 100&.c.
Staten Is land-lat mortgag-e. ....... .. . .. . . ... .. .. . . .
13
300,000
1,000
476,000
Ste-rling Mo1tntain (N. Y.)-lst ruort .. inoome, guar .
7¼ 188 1
Stoekton d! Cr>pperopolis-Iat rnort., (guar. lJy 0. P.)
45 1875 500 &c.
500,000
. ....
50
4 ,010,350
8ummil Brancli (Pct.)-Stock . . . . . . . . . . . . . . . . . . . . . . . .
20
1,000
1.000,000
20 1874
l at mortgag e oonds ........ _.. . . ... ..... ... _.... ...
500,000
Suspension Bridged! Erie Junctian-Stock... ... . ...
23
1))00
1,000,000
1st mortKage... .. . .. . . . . . . . . . . . . .. . . . . . . . . .. . . . . . . .
23 1870
100
Syracuse Binghampto11 d! N. r.-Stock...... . .......
81 1875
2,500,000
1,000
2d mortgage (now first)........ . ... . ...............
81 1867
270 000
1,000
Consol. mortgage (guar. D. L. & W.) . ... . . .. . .....
81 1 876
1.750:000
50&o.
261,400
l:ly-raC1.ise Ohenango cl: New York-Funded d ebt.....
43 1877
955,600
Syracuse Geneva re Corning-1st mortgage . . . . . . . . .
57 1 875
1,000
1881
700,000
'1.'ehi,antepec Interocoon-Iat mort. (for $6,000,000)
50
1,988,150
Terre Haute d! Indianapotis-Stock.................. 113
1,000
l,t:i00,000
Bonds or 1873...... .. ... . . . . . . . . . .. .. . . .. .. .. . . .. .. . ... 1873
50
fi00,000
Terre Haute d! Loga-nsport.-Stock.... . . ............. . . -.
1,000
500,000
lat mortga,1re, guru-. by Terre Haute & Ind'uapolis
93 187!)
2,145,000
1,000
I'e;i;as Oentral,-Iat mortgage, gold _........... . . ... . 143 18 79
1,000
2, 500, 000
.!'~-.Mexican-1st mortgage, gold ($15,000 p . m.). . .. . 1881
1,000
1,620,000
Texas ct N. Orleans of '74-lst. mort,1?. landgr., coup ... . 1875
26, 014,000
Texas re Pacific-Stock ................................ 1,325
1,000
4,050,000
1st mortgage, gold, coup. (E. Div.) . .............. . 524
1,000
9,050,000
2d mort., oonsol., gold, coup. (E . Div.) ... . . ........ 524 1875
8,202,000
1,000
Income and land mort., rei{. . . . . .. . . . . . . . . . . . . . . . . 52! 1875
2,127,000
Lanasc1'lpforint.onino.mort.(conv.intost'korl'cl) .... 1880--1
1·,000 12,500,000
1st mort., gold, laud grant, Rio Grande Division. 526 1880
1,000
7,100,000
New Orleans Pacific, 1st mortgage. lancl grant.... 355 1880
r~as <I: St. Louis-First mortgage, gold . ............ 2 66 1880 1,000 2,128,000
2,128,000
500
Incom e bon.cls, 1st mo1-t. on laud and 2d on road. 190 1880
1.000
140,000
Te:»as Trunk-1st mort. land grant gold ... ...... ... .
35 1880
Southern Pennsyl11ania-Isi mortga~e, gold........
8f:ntthwestern ( Ga.J-Stook, guarant'a 7 per annum
Southwest l-'ennsyl11ani!i-Stock. _____ .. .. .. .. . . . . ...
24
257
42
. .. .
$ . . ..
100
is15
7 g.
3¼
31.g
7
4
7
7
7
5
3
7
7
7
2
7
7
7
7
7
4
7
---- 1----------1-------
M.& 8.
. .. . ... .. .
Mar. 1. 1900
J. & D . Savanna.h,Oent.RR. Ga. D ec. 20. 1881
0
0
F. & A.
00
(1>
Phila. 1i°nd Gi-eensburg. Feb., 1917'
J. & J.
New York.
Jan., 1882
J. & J . N. Y., Union '!'rust Co. Jan. 1, 189!t
N.Y., ~~;~~;:. Offloe. Juiy. ;;: -i895
J. & J. N Y .• Central P acific. January. 1905
F. & A. Phlla., 23~ So. 4th St. Feb. 16, 1876
J. & J.
do
do
Jan. 1. 1904
Fei>.
J. ·&·_·J . N. Y. Lo.keE:ri ..& West.
J. & D. N.Y.,D L.&W.RR . Oo.
J. & D.
do
do
A.. & 0.
do
do
F. & A. Syracuse 811,vl.ngs Bank.
N.Y.,Farmerf!' L.& T.Oo.
....
N ew York.
.J. & J. N.Y.,Farmers L.& T.Co.
A. & 0,
do
do
July·i";"iooo.
Aug., 1881
June, 1887
Oot. 1, 1906
Aug. 1, 1907
Nov. 15, 1905
Aug·.. i".. iSSl
1893
J ..&...T. ~.Y., Farixiero;L-.&T.Co.
··i9fo"
7 g. M. & N.
New York.
Nov. 1. 190!>
6 g.
1921
7
F. ·;.: A. N. Y., 54" E.x.oha.nge Pl. Au,i;:. 1, 190&
6
..6.g. 1t1:.·&·s. Phila.,N:York:·&London l\Iaroh·i;-iso5
6 g. J. & D.
do
do
June 1, 1905
7
July. NewYork&Phllad'phia Jan. 1, 1915
..6.g.
F .. &..A. N .Y., Maroaiitiie Tr. Co.
6 g. J. & J.
do
do
6 g. J. & D. NevrYorkand 8t. Louis.
6
....
.. ...... ..
'l g. M. & N.
Boston.
F eb:·i·,--i930·
July 1, 1920
J u ne 1, 1910
Juno 1, 1920
May 1, 1910
Terre Haute ~ Logansport.-Road extends from Legan wort, Ind., '4,·
Southern Penns1Jl1'a-r.ia Railwav cl: Mining Oompanu.-SOuth Pennsylvania Junction to Riohmond, Prl., 21 miles, with a branch from Rich- Rookvi.Ue. Formerly Logansport Crawfordsville & Soutllwestern, whioh
was
sold in .foreclosure September 10, 1879, and roorgauized nnder
mond to Ore Banks, 2 miles. Leased for 199 years from Maroh 1, 1870,
1;(') Cumberland Valley Railroad Company. Road originally organized present name. Rookville extension of the Evansville & T erre Haute
under the name of Southern Pennsylvania Iron & Railroad Company, Railroad, Rockville 1iO Terre Haute, 1s ope.rated under.lease. Leased b:,
bnt waa sol cl by foreclosure of second mortgage Deoomber, 1872, and Terre Haute & Indian~poli.s Railrood for 25 per oont of gross eru-nlng,ir.
and first mortg~ge bonds _guaranteed ~ Ulat oompany. Earnings aµd
reorganized under present name. Capital stock, $800,000. .
Southwest PennsyZ-oonia..-Greensburg, Pa., to Olypha.ntt P., -t2 miles. rental year ending Oct. 3 -, 1880, $65,607. (V. 29, p. ,2S2, 277, 469, 564....)
~ned AprH 1, 1873, and leased to Pennsylvania Ra.llroaa, which operTexas Oentral.-Llne of road from Ross, in MoLennan Co., to Oiaoo, in
ates it at cost, paying net- earnings as rental. In 1878 gross earnings Eastland Co., Texas. 143 miles. Grosa earnings on an averago of 70
wore $338,707, and net earnings $183,409. Interest on bonds and 7 per miles in 1880-81, $197,151; net, $127,091. C. A. Whitney, Proa., N. O.
oont dividends on stock were paid out of net earnings of 1879.
Texas-Mexican.-W. J. Palmer, Preaid-ent. Boo V. 33, p, 528.
Spuyten I>uyvel ~ Port .Morris.-Road is 6 miles in length and connecti!
Texas ~ l\eu, Orkan-s lof 1874) .-Houston, Tex., to 0ra.ng6 (Sabfne
the New York Central & Hudson with the New Y ork & Ilarlem. Le::ised River), 108 miles. In Angust, 1881, this company ooquired the .L a.&.
to New York Oentral November 1, 1871. Rental is 8 per oent on capital Western from Vermilllonville, La. to Babine River, Tex., 106 mllas.
1
stock of $989,000. Opera.tions are included in lessee's returns.
This was a reorganization, 1874, or the old Texas & New Orle3ll.8 R&
State Line iE S-ulUvan.-Monroeton, Pa., to Berenioo, Pa., 24 miles. The stook is $3,000,000, and in July, 1881. this waa reported sold tog.
Originally organized as Sullivan & Erie Coal & RR. Co. which was sold in P. Huntington, of the Southern P ooitl.o, at 85. GrORa earninga, Ul8{1.
foreclosure Oot. 14, 1874, and a new company forrnedbecember 2, 1874, $383,885; net, $176,138. John T. Terry. Pres., N. Y. (V. 33, p. 75,218.)
T~s d! Pacijlc.-From Marshall to Fort Worth, Tex.,·130 m.; Marshall
under the present name. Stock, $1,000,000 (par $50). The mortgage
covers 5,000 a.ores coal lands. In 1878 groaa earninga were $40,867, t-0 Shreveport, La., 40 m , ; Marshall to Texarkana Junotlon, 69 m.;
Texarkana to Sherman, Texas, 1 55 mires; total old road 444 miles. Rte>
and net ea.rnings, $29,673.
Staten Islancl.-Lo-Oal road on Staten Island, Staplet-0n to Tottensvllle, Grande Division . Fort Worth to junction with Southern Pa.oifto, about.
13 miles. Road was , purchased by present owners in 187 4, and is 80 miles south of El Paso, and. 536 miles from Fort Worth. Finiahed'
operated in eonnootion with Staten Island Ferry Company. Capital Dec., 1881. N. O. & Pao. consolidated therewith, Shreveport to N. o.•
atook, $210,000. Earnin~, 1879--80,: $291,656; oper ating expensea. 355 miles.
The Texas & Paoifl.o was bnllt nuder aot or Congress of Maroh 3, 1.8 71.
f220,268 : net, $71,388. Interest, $2v ,965; surplus, $50,423.
and other oots in 1872 to '74, and th~ laws of 'l\uas. This oompan y IIUGSterling MQuntai ,i (N. Y.)-Roa.d runs from sterling Juno. on the Erie oooded to the right of the Memphis El Paso & Pacifl.o Rall.rood a.nd other
Ry. to Lakeville, about 8 miles. Bonds guar. by Sterling Iron & Rail- companies. By a contract made in January, 1880, with Paoiflo Railway
way Co. (V. 33, p. 3159.)
Improvement Company, the roa.d is extended to El Paso on the Rt•
Stockton ti Copperopolis.-Present company is a consolidation., made Grande, about 616 miles, to moot the Southern PM.itio of Oalltornia. a\ November 17, 1877, of the Stockton & Oopperopolis and the StocKton & $20,000 in bonds and $20,000 in stook per mile ot road. The control
Visalia. Line of road, Stockton to Oakdale, Cal., with a bra.nob of 12 oft.he T exas Paoitic stock was sold by Thos. A. Scott to J ay Gould. 'l'ha
miles. Leased to Central Pacific Railroad Company for thirty years Fidelity Ins. Trust & 8. D. Co. of Philadelphia are Trustees or tho Rie
from December 30 1874. By the terms of the lease the leasee agrees to Grande Div. mortga.~e. The stook author.iaed is $50,0 00,000. A 0001.pay princip~ and interest of the bonds. Capital st-ock, $234,500. The solidation with New Orloons Paci1ic, share for shru-e, waa voted ln May.
eompany previously made default July, 1874, n.nd the $1,000,000 of 1881. From the State o:t Texas the company had reoeived 4,851,76 ~
acres of land, b y building ea.at of Fort Worlli, on wbloh the iRoentf)
old bonds were exchanged for the present issue guaranteod.
bond.F! are a lien, as also a 3d mortgl\ge on the road east of Fort Worth_
Sum.mit ~~;~ (Pa.)-Thia · company opera.te.d the Lykens Valley There were also 1,000 oorti.:fl.oa.tes for 640,000 aorea deposited in trns5
RR. ttll July, 1880, and it has a small branoh of it,s own t-0 Summit Mines, for oertain foreign ola.imants. The railroad lands in Te.x:as , h-OW(.Wer, d-.
l\j, of a mile. Traffic is almost exclusively coal. Gross receipts in 1880, not lie a<ljacent to the tine of the r.oada ownin"' them. The land graitt
including ooal, $1,028,469; net, $80,994; from Lykens Valley Coal Oo., by acts of Congress were 20 •sootions per mi~e in California and 40
$48,907; total, $ 129,902; interest;and taxes, $95,092; balance, $34,809. sections ~r mile in the Territories between Texas a.n.d California. Tha
-(V. 33, p . 125.)
N. 0. Pacifio has a land grant of 1,500 ,0 00 a.o~. The aots of Congrees
Sus-pension BrWge cl: Erie Jimotion.-East Buffalo Junction to Niagara in regard to this road ma.de oonditions as to time of oonstruetion, &o.
Falls and Sus-pension Bridge, 23¼ miles. Road opened January, 1871. See full s tatement as to lands in V. 31, p. 178. Ot-.erR,tions an,l earnrt is leased to New York Lake Erie & Western Railroa.cl Co. at 30 per ings Ffor four yeal'f! ending M:a..v 31. 1880, werA a.fl follow'!, no annual
oent of gross reoeipts, which are guaranteed to be not less than $105,000 report having been i.asued for the last y~r ending M:ay 31, 1881 .
Passenger
Freif$:ht (ton)
Gross
Net
per annum. Lessees own all stoclr except 297 shares.
Ml.lea.
Mileage.
M1lea,g-e.
Earnings. Earnings.
_ Syracuse Binghampton cf: New York.-SeP.t· 30, 1880, owned from Years.
1876-7
.......
415
13,886,499
43,369.'881
$2,043,453
~38
.329
Geddes N . Y., to Binghampton, N. Y., 81 Illlles. Chartered as Syraouse
15,004,800
51,022,434
2,331 ,310
708.138
& Binghampton and opened Oct. 23, 1854; foreclosed and reorganizoo 1877-8 .. ... .. 444
18789
....
...
444
11,651,044,
50,723,818
2,136,143
544,916
April 30, 1857, and leased to D ela.we.re Lackawanna & Western. In the
11,438.607
6U,44o,382
2,589,220 1,046.703
last year reported-ending Sept. 30, 1880, the gross receipts were 1879-80 .... . 4'44
The income account w a,s as follows :
$869,154; r~~ expenses, $546,819j net $322,335; interest on bondB,
1876-77.
1877-78,
1878-79.
1879-80.
$141,400; dividendB, $50,100 . (V. ~7, p. 568; V. 32, p. 579.)
$
$
$
$
538,329
708,133
54!,916
1,0 45,703
S1jracuse OM:nango cf: New York.-Sept. 30, 1880, owned from Syra- Total net. income.. ....
ouae, N. Y., t-0 Earlville, N. Y., 43¼ miles. The Syracuse & Chenango
Disbursomants557,8t37
658,049
656,370
663,120
Valley Railroad was sold in foreclosure and a new oompany organized In tereat on debt.......
_ _ __
____
6 9,620
March 14, 1873, under the name of Syracuse & Chenango Railroad. Si.n.Jring fund .... . . . . . .
April 15, 1877, road was a~ain sold in :foreclosure and present oompany
Bala.nee .............. def.19.538 snr.50,089 dd.111,454 sur.312,963
organized, whioh also became embru.Ta.ssed and passed into the hands of
Mr. J ames J. Belden, January, 187&, as R eceiver. In January, 1880, -(V. 31, p. 61 , 96, 1 '7'7, 205,. 248. 359,673; v. 32, p. 123,205,289,412.
tbe road was reported sold to a Boston Syndicate. See V. 32, p. 101. 445, 469, 52c;, 613, 6 28. 687; v . 33, p-. 48, 102, 117, 155, 118. 256, 38u,
-(V. 28, p. 44; V. 32, p. 101,444; V. 33, p. 178, 716.)
404, 461,470,561, 623, 687. 716.)
Syracuse Gener,a ~ Oorning.-Bept. 30. 1880, owned from Corning-,
Te,:cas o:1 St. .Loui.s.-Na.rrow gauge road. T exarkana to Waoo. 250
N. Y., to Geneva, N. Y.1_57:\J. miles. This road was opened Dec. 10, 187 7, miles. Construction is in active progreas on tho Misi,ouri and A.rkanaaa
and is leased to the Fau Brook Coal Company. Stock is $1,162,800. In divisions, and the company expects to have a line from .Bird's Poiu~
1S80-81 gross earnings were $513,591; operating expenses, $329,377; opposite Cairo, to T exarkana, a distance of 400 miles; nlso an extension.
net, $184,214. (V. 29, p. 629.)
of the line from Waco to G atesville, 45 miles, and tb.e D allas Brnnoh,..
Tekucmtepec.- Road in progress from Gulf of Mexioo to Pacific Ocen.n. from Mt. Pleasant to Dallas, 125 mile.'I, with a poasib10 branoh to Me1umiles. To December, 1 881 , 40 miles finished, aud about $1,600,000 phls, 40 miles, and anothe1· to. Little Rook of 5~ miles, c on~pletcd b1 lbe .
expended. Stock is $2,000,000. Edward Learned, President, Pittsfield, close of 1 882. Land grant 1.8 10,240 aores for oooh mtlo o.f fim.ahed
road, except on one section of 36 miles, where only 5,120 a.ores aN
Mass. -(V. 33, p. 461,)
received. The income bond.9 n.re a first mortgage on lands and a eeeTerre Haute Indianapolis.-From Indianapolis to Illinois State Lme, ond
the roa.cl. Lands in T ex::..~ are not on the liue of road. Th•
80•miles, with ooal branches, 21 miles; total. 101 miles. The road was stockonauthorized
is $12,000,(JOO. J. W. P arnmorc, President, St. Loui8.
opened in 1852 {a.a Terre Haute & Richmond), and bas boon one of' the (V. 31, p. 321, 536,
V. 32, p. 101,283,544; V. 33, p. 102, 40-1, 624 , 716.)
best of W estern roads. The company lea.Bes and operates the st. Louis
Te:c'UJ Trim/c.-This road i!! projected from Dallas to Sabina Pa.sa, Tex.!
Vandalia & T erre Haute Road on joint account with the Pittsburg
Omoinnati & 8t. Louis Railroa.cl, at :30 per cent of gross earnings, but a.bout 300 miles, with a. branch to Babine River, 50 miles, has a lana.
guara.ntoos the first and seoond mort. :bmrdB:- -- -E1lrninga- for 1878-9 were !!rant· ot ··10.2-10 acres for each mile built. Bonds ;re isaued a.. rate
$14,00-0 per mile or com,pleted road. J . G. Graves, Presid8llt, N Qrtll..
$1,082,373 &'1"088 and $404,370 net; in 187!)-80, $1,327,135 gross and
Scituate, Mass. (V. 33, p. 202, 6 -12, 7u8 .)
$446,69~ net.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
----
of
RAILROAD STOCKS AND BONDS.
IiV
[VOL. XX
8u1Ntcrlben. wm conf'er o. great Cavc,r by glYl.ng lm.medlate no~lce oC any error dl•covered
In these Tables.
INTEREST OR DIVIDENDS.
Bonds-PrinClMiles Date Size,or
.A.mount
-------,-----------1pa.l,WhenDue•
.. •re:xpla.nation of column headings, &c., see notes Ro
Boonf ,." y:~ue. -Outstanding~ Rate per When Where Payable, and by Stocks-Last
on :first page of tables.
0 -....
ue
.....
Oent. Payable
Whom.
Dividend.
DESCRIPTION.
---------------------1
~
RR.-lsti .mortgage ..............•. . ...........
Colleolidated mortgage .. ............. . ............
Extens.ion bonds . .. ·................................
Toled,- ..A.nn Arbor cl: (h•an.d 1'r'u,nk-l st mort., gold.
Tokao Oanada Southern cl: Detro,U-Stock ...........
:Roleclt1 (Jinc-lnnati cl: kit. Louis-1st mortgage, gold.
2d m-0~age, income., not cumulative ...... .......
'.1oka-O De hos cl: Burlington-Stock ......• ..... .. ..
1st mortgage, Toledo t-0 Kokomo ..................
2d :M., inoome, non-oumulative, Tol. to Kokomo ..
1st mort. ,- Dayton Division ... ... . . .... . ...........
2d mort., Dayton Div., income, non-cmnulative ..
l@tmortga.ge Toledo terminal tru.st "A" ..........
1at mort., g old, Southeastern Div .................
Income bonds,
do
non-cumulative.
Oinoinnati Div., 1st mortgage, gold ..... . .... .....
do
income, non-oumulative ...... .. ..
Frankfort & Kokomo, 1st mortgage, gold .........
~ d Bosto11,-8took ..................................
1st mortga~e, consolidated . ~ .. . ................. . .
Convertible bonds ........... . .......... .. ..... . ....
New mortgage bonds (for $1,000,000) .......... ..
'J.'roy Union-1st mort"'a~e. guarantee<t, Troy City.
~mu cf Okm-.field-Stock ............. . ...... ......
te,• 4 Delaware-1st mortgage .. ........ .... .. .. ..
2d mort~e income bonds ........ . . ...............
llnwn .Pacifie-Stook .. . .. ........... ......... . ..... ..
1st mortgage, gold, on road and equipment . ..... .
2a- mortgage currency (Government subsidy) .. ..
3d
do
on road (2d on land), sinking fund ..
Land grant bonds on 10,514,789 acres ... . .... ... .
Omaha. bridge bds, st'g, {s.f. about $65,000 yrly).
Cell&ternl Trust bonds ........ .... .. ... ..... ... .. ..
Denver Pacific, 1st mortgage, gold. land grant ...
lra.n8. Pac., cons. M .. ,g.(for $80,000,000),cp.orrg.
do
1st M .. g, cp., on 140m. west l't<>. Riv.
!,,
54
54
--1852
1876
·si issi
270 issi
270
281
181
181
102
. 102
......
1 80
·22
00
26
53
35
·53
21,,
60
74
1881
... .
1880
1880
1880
1 880
1880
1881
1881
1881
1881
1879
---·
----
1874
1 878
·- ·-
·$ . •••
. . ..
1:000
-···
l,000
1,000
50
1,000
1,000
1,000
1,000
1,000
1.000
500 &c.
1,000
1,000
1,uoo
100
1 ,000
500 &o.
1,000
. ...
i1f76
1~000
1875 100 &o.
100
1,825
1.038 1866-9 1,000
1,038 1866-9 1,000
1,038 1874
1867·9 1:000
£200
1871
-···
1,000
.. ... 1879
1,000
106 1869
1,000
1879
1,000
140 1865
.$239,500
125,000
265,000
1,260,000
1,547,662
3,000,000
3,000,000
7,000,000
1,250,000
1,250 ,000
1,000,000
1 ,000,000
250,000
2,250,000
2, 25(),000
250,000
250,000
200,000
1,609,000
1,384,000
650.000
500,000
680,000
1,000,000
136,000
1,342,600
61,000,000
27,229,000
27,236,512
1 3 ,861,000
6,071,000
2,037,000
4,691,000
137,000
12,602,000
2,240,000
M.&N. N.Y., Bk. of N. America. May
Nov.
......
·-······· ·
7
Oct.
s g. J. .&. J. N. Y,, Anthony, P.&O. Jan.
7
7
.. . .
6 g. .J.
....
.&. J .
....
.&..
1,
1,
1,
1,
188Z
1896
1905
1921
New York.Or Londou .
..frii"
·····---- -
July 1,1921
0
.........
J. N .Y., G:w."Baiiou & Co J an. 1, 191
Jan. 1, 191
A.. ·&·o. N.Y., G:w."Ballou & Co April 1, 191
6
6
Aprtl. 1, 191
6
J . & J. N.Y .. G:w:i:ia.iiou & Co July 1, 191
6 g. A. & o. New York and London April 1, 192
.April 1. 192
6
A.-&·o. N. Y.,
B3.iiou & Co April 1, 1921
~
April 1, 1925
7
J. & J . N.Y., ~ietroiin.Nat. Bk. Jan. 1, 1908
(1)
2
F. &A. '.rroy, Company's Offloe.
7
J. & J . N. Y., Nat. B'k ot Com.
1894
7
M.& s.
do
do
1882
1903
7
A.. & o.
do
do
6
---312 F. & A . Phila., 233 South 4th. Aug: ·i5: ·i88
7
.J. & J. Rondout, Co.'s Office.
1906
7
F. & A.
do
do
July 1, 190
l&i
Q.-J. New York and Boston. J an. 2, 1 88
do
do
1896 to 189
6 g. /· & J.
6
J. & J. U.S. Treas., at maturity. 189G to 1899
8
M.& S. New York and Bost-On. Sept. 1, 189
A. & 0 .
do
1887
7
do
April, 1896
~ g. A. & O. London. L. & S. Fr. Bk.
J. & J. N. Y., Union Trust Co. July 1, 190
7 g. M.&N. N. Y., Bk. of Commerce. May 1, 189
May 1, 191
6 g. M.&N.
do
do
Aui;;. 1. 189
6 g . F. & A.
do
do
J.
ti
6
----
,.
o: ,v:
I
fiog(c.-September 30·, 188 0, owned from Arnot, Pa.., t-0 State line New Applied directly to interest aooount, one-half of Govermnen t earnin~
Yerk, « miles; bra.nob, Blossburg, Pa., to Morris' R1m, Pa., 4 miles; Second-To be pla.oed in the sinking fund-the other half of the Gove
leased, Elmira State Line R ailroad, State line Now York to N. C. Rail· ment . earnings; :five per cent of net earnings, after deducting interest o
fl..rst mortgage bonds; so much · of $850,000 a.s may be necessary
make 25 per cent of net ea.min.gs. The annual r eport for 1 880 was pub
lished iil V. 32, p. 285, The earnings, expen.ses, income account an
N.Drake, President, Corning, N. Y.
, Toledo Ann Arbor & Grand Trunk.-A eonsolid:ttion, Oct., 188g,. of balance sheet were as follows :
EARNINGS AND EXPENSES FOR 1879 AND 1880.
Teletlo & Ann Arbor and Toledo Ann A. & N orthcastern railroads. Line
1879.
1880.
from Toledo t-0 Pontiac, 84 miles, oonneetln~ with Grand Trunk or
Passengers-cash
. ................... __ .... . $4,236,869
$ 5 ,171,11
Canada. In 1880, 46 miles finished, and whole line to be oomplet.ed
234.01
169,927
.Sept., 1881. Bonds offered in New York, June, 1881, at $15,000 per mile P assengers-Government ................. .
13,406,91
by Anthony, Poor & Oliphant. Stook, $1,900,000. See CHRONICLE June Freight--:-nash.... . . . ..................... . 10,572,805'
469,02
443,4.35
Freight-Government ..................... .
l.S, 1 8 81, p. 651; V. 33, p . 155.)
1,342,5
1,051,154
!'oleclo Oanada Soutliern ~ D£troit.-Toledo, Ohio, t-0 Detroit (G. Freight-company ............ ~ .... . ..•.....
719,34
685,712
'T. .Junction), Mich., 55 miles. Road opened Septem!:>er 1, 1873. In Mail . ....................................... .
681,81
E
.
x
:press
.
..........
..
........................
.
496,218
1879 gross earnings were $416,544; opera.tin"' expenses, $461,498;
430,33
. 384,142
deficit, $44,954. The bonds were partly exchangei into Ca.na.da. Southern Miscellaneous ... .. ..................... .... .
first mortgage bonds at 70 per cent of face value. In Ma.rob, 1881, a
$22,455,13
Total earnings .......................... $18,040,266
foreolosure suit was begun. (V. 3 2, p. 336. )
10,545,11
Opera.ting expenses.........................
8,368,836
Toledo Oincinnati ~ St. Lcruis.-This is the c.on neoting line (narrow
gauge) of the Toledo Delphos & Burlington in progress 270 miles to St.
$11,910,01
Surplus ea.rnin~s........................ $9,671,429
Louis. For each $9,500 m cash, subscribers received $10,000 in 1st Expenses, ratio per cent............ . . . . . . .
46·9
46·3~
mortgage bonds, $ 5,000 incomes ·and $5,000 stock. (V. 32, p. 6, 579;
INCOME ACCOUNT .FOR 1880.
v. 33, p. 48. 433, 718.)
.Receipts.
Disbursements.
!I'oUao Del;phos ~ Burlingto-n.-Road. from Toledo t o Kokomo, Ind., 181
-miles; branch, Delphos t-0 D ayton , O. , and Sbanesville branch, 99 miles. Net ean1lngs . ......... $11,910,015 To interest on bonds . . $5,174,47
370,122 Discount, interest, &c.
114,3 ,
Southeastern Division, 185 miles; Cin. Division, 22 miles. · E :x,tension Dividends on st-Oc.k . . .
640,030 Sink. fund requirem'ts
434,00
-to St. Louis is in progress under name of Toledo Cincinnati & St. Louis Interest on bonds.....
Prem.
on
bonds
sold.
Amount
due
the
U.S.
RR. John M. Corse, President, New York. (V. 31, p. 330, 653; V. 32,. p.
profits on investm'ts
for the year.........
1,779,81
43,101,206,288 , 313, 613; v. 33, p , 73. 1213, 386, 442, 470, 718.).
sold, &e. ... ...•. .. . .
284,249 Dividends, 6 per cent.
3,0 45 ,73
Troy <f Boston.-September 30, 1880, owned from Troy, N. Y., to VerBalance forwaru.......
2,65G,07
mont State line, 35 miles; l~ased: Southern Vermont o miles; Troy &
Total .............. $13,201,416
llennin~n, 5 miles; total operated, 46 miles. N et earnings in 1879-80,
Total. .... _.. _..... $13,204,41
$W9,621; interest, $188,368; rentals. $27,400. The floating d ebt
GE}NB.RAL 'BALANCE SHEET DBCBMBER 31, 1 880,
Sept. 30, 1880, was .$328,931, agrunst $380,648 in 1878-9. Operations
.issets.
and earnings for five years pa.st were as follows
Road and equipment .. . ..................................... $ 154,74 3,6
Passenger
Freio-ht (ton) Gross
Net
Div'd InvestmentsYears.
Miles.
Mileage.
Mileage.
Earnings. Earnln~. p. ct.
Bonds and etooks of other oompaniea . . . .. . . .. . . . . .. . . . . . *19,507,61
1876-6.. . . 53
5 ,60 5,546
13,908,977 $566,540 $268 ,2u6 4
Bonds and stocks b old by trustees oonsoliaated mort....
t2,185,95
1876-7... . 53
6,660,492
lG,853,882
560,764
276,614 4
Bonds and stocks of this company.............. .........
3 4 9,50
1877-8 .... 53
6 ,492,660
23,8 29,494
560,344
274,747
2
Land D epartment assets1!78-9. ... 46
6,112, 538
30,501,683
593,896
288,519 ..
4,533,8
Union Pa('i.fio grant ................................ _.....•.
l.879-80 .. 46
6,191,024
28,252,311
570,161
269,621 . .
1,8 50,3
-{V. 28, p. 119; V. 30, p. 168.)
M!t~f~so1:ia~!!°a.~~.~~:::::::::::::::::::::::: _-_-::::::::::::
1,877,2
Pr<nJ U1iion.-A sm:tll road in Troy City, extending from Hoosick Street Balance of interest on U. 8. bonds ........ .. .......... . .. . . .
117,3
Bridge t-0 Troy & Greenbush RR., 2 1 4 miles. Own ed jointly by several
roods. Capital stock, $30,000. Bonds were isf'ued by the City of Troy,
Total ............................ . . .. ....... .. ...... . . . ... $185,165,5
and are guaranteed by tne companies interested.
Lial>ilUies.
.Tyrone cl: Clearft.eld.-East Tyrone, Pa., t-0 Curwensville, Pa., 44 miles; Capital stock................................................. $50,762,3
branches, 17 miles; total, 61 miles. This company was organized Funded d ebtApril 1, 1867, after sale in foreclosure. Road completed in 1 872. It
Union Pacific Rn.llroa.d.................... . . . . . . ... . . . . . . .
53,889,
wu leased t-0 the Pennsylvania Railroad in 1878; rental was $73,500.
Kansas Paoific Railway, $39.095,624, less a.mount lleld
G. B. Roberts, President, Philadelphia, Pa.
by: trustees consolidated morti!age, $10,361,510 . . . . . .
28,734,1
Ulster cl: Delaware.-Rondout (Hudson River), N. Y., to Stamford, N. Y.,
Umted States snbsid.v bonds'74 miles. This was the Rondout & 0Rw-P,go in 1870; rMrganized May
Union Pacific Rrulroad. .•. . . • . . . . . . . . . . . . . . . . . • . . .. . . . ..
27,236,5
28, 1872, as New York Kingston & Syracuse, and agajn, after foreclosure,
Kansas Pacific Railway.................... . ....... ... . .
6,303,0
Jrlay 1, 1875, as Ulster & Delaware. The stock is $1,152,100. In 1877-8
Interest accrued thereon ....... ........... $26,056,256
the gross earnings were $168,157; net Nll'nin~s ~~.ti58. Thos. Cornell
Less r epaid by tran.sportation.. ........ ... 13,922,281
12,133,9
!ti Pree!den.t, P..011dout, N. Y.
Bills payable .... . ................. $2,334,277
Union Pacific .Railway.-December 31, 1880, mileage was as follows: Coupons & div's due Jan. 1, 1881 1,982,874
388,744
Main lineMiles.
Miles. Balance <lue connecting roads....
Council Bluffs t-0 Ogden ...... 1,037 Utah & Northern RR . ........ 34fl Audited bills, pay-rolls, &o .. ,.... 1,642,070-$6,347,967
BranchesMarysville & mue VaJ.. RR...
37 Less ca-sh on hand and balaneea due..........
4,828,132- 1,519,8
Ogden t-0 June. Central Pao..
5 Carbondale Branch...........
:n rnterest accrued, not yet due.: .. . : ................... . ... . . .
782,7
Kansas Cityt-0 Denver ........ 6381 Jun ction City &Fort Kearney 70 Income acc.ount, surplus ea.rnmgs . ........ _.......... . . • . .
2,521,8
Denver t-0 Cheyenne.......... 106 Solomon RR...................
57 Income used for sinking funds ............................ ,.
434,0
Leavenworth to Laurence....
341 Salina & Southwestern.......
36 Land income ................................................ .
8-!8,2
- - St Joseph & Western......... 252
Total owned ................... 1,820 Cen. Br. U . P. & leased roads. 334
Total. .............·... .................. ... ......... . .. ... $185.165,5
ControlledKansas Central...... . . . . . . . . . . 119
* Bonds (par value), $16,19-1,264; f'tocks, $17,608,011.
Omaha & R epub. Va1Jey RR. 133 Denver & Boulder Valley.....
28
t Bonds, $2,133,000; stocks, $2,875,000.
Oma.ha N. & Black Rills RR..
81 Golden Boulder & Car........
6
The securities held at close of the year 1880, amounted to $16, 194,2
Oolorado Central RR......... 178
- - bonds and $17,(,08,011 stocks, at their par value, of which the cost
.Echo & Park City RR........ .
27 Total controlled . .. ... . .. ..... 1,972 the balance sb~t is $19,507,615. A complete list of these was p
Utah Southern RR.... . .. ..... 235 •.rot. operated Dec. 31, 1880. 3,792 lished in the CHRONICLE, V. 32, p. 285. The land department reports t
Since Deo. 31, has bought the Den. So. Park & Pn,o. RR., 212 miles.
following for 1880:
This was a consolidation, January 24, 1880, of the Union Pacific Net proceeds, Union Pacific land grant 1880 (176,201 acres)
Railroad, the Kansas Pacific and Denver P:tciflc, made under authority
at average of $-l 82 per acre) . .......... .. ..................... $669,
c,f the a.eta of Congress of July 1, 1862 and July 2, 1864. New st-Ook Net proceeds Kansas Pacific 111lld grant 1880 (100,382 acres), ·
,raa issued for the old stock of the three companies, but their bonds
at average price of $4 03 per acre . . . . . . . . . . . . . . . . . . . . . . . . . . . 268,4
remained unchanged. (See CIIRO:NICLE, v. 30, p. !18.) The COIC!)UulY,
Total ................ . ............................ ; ...... .. .... $937,7
'UDtler acis of Congress above--named, took a land grant of 12,800 acres Net proceeds of other lands and lots...... . .....................
19;7~
per mile, estimated at a total of 12,083,227 a-0res, and e. subsidy in U , ·s.
Total net proceeds for the year .............................. $9'57,bo.Jlds of $27,236,512. The interest and principal of this loan i.s t-0
be paid a.ocording t-0 the "Thurman Act," which requires 25 per cent Deduct net proooed.s far the month of January, 1880... .. . . . . • 109,3_
of the net earnings, after deductmg interest on the first mortgage Leaves uet proo'ds since Feb. 1, when aoots. were oonsolidat'd,
1'1iln~, to be paid annually to the Government as follows : Fir.avas per balance of "Land Income" acct., gen'l balance sheet. $848.,2
way Junction, 7 miles; total, 55 miles. The stock i.s $580,900. In
1&'79-80 gross earnmgs were $393,766 and n et earnings, $103,448. F.
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Federal Reserve Bank of St. Louis
I
I
D.ECl!:MBKR,
1881.J
lv
RAILROAD STOCKS AND BONDS.
Snbscrlben will eonCer a great f'avor by giving Immediate notice of any error dlseoTered In these Tables.
.
Bonda--Princi
IN'£EREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Duo.
Amount Rate per When Where Payable, and by pal,When
Par Outstanding
For expl,ana,tion of oolumn headings, &e.., see notes of
of
Stooks-Last
Whom.
Cent. Payable
Dividend.I
. · on first page of tables.
.
Road. BondR V a lue.
Unum Pacific-( Otn1,li~ue<lJ-
- - - -· - - -
~ g.
6 g.
7
7
7 g.
6&7
2½1
6 g.
6
6 g.
6 g.
6
6
6
6
6
tica Ohenango ct; 81,squehamia alle]!-Stock .. . ..
tica Olinton. re B$nghamton-lst mortgage . . .....
alley (N. Y.J-Stock . ... ..... ················-······
253 1866 $1,000 $1,063,000
6,303,000
394 1865-7
6,~66,000
245 1869
1:<>00
1,000
2 9 2,000
34 1866
f>O&c . 1.073,500
427 1866
250
&o.
54,000
1870
··-·
2,921,977
--- 100 20,490,400
379
.... is1i 1,000 5,669,000
....
2,000,000
1871
·--· 1871
.. ..
1,846,000
....
....
1,800,000
.... 1871
. ...
154,000
.... 1871
841,000
. ...
. .... 1878
....
1,700,000
.... .....
. ...
866,000
.....
5,000,000
. ...
.... i862
.....
100,000
1868
4/J50,000
-100
280
1,000,000
1,000
36½1 i870
1,000
1,125,000
75 1871
1,000
825,000
105 1879
1,950,000
1,000
138 1879
2,000,000
.... .....
--··
4,176,000
1,000
348 1 878
900,000
1,000
62 1879
1,772,000
100
180
1,112,000
87 is7i
500,000
36 1874 500&c.
200,000
. . ..
16
......
4,000,000
100
98
800,000
1,000
.31
--··
· 750,000
11
.. .
alte1y (Va.J-lst mort"'
"'e bsnds .. .. . ... . ... .. ....
,.,a.g
.....
----
Kans. Pac., 1st mort;, gold, 140th to 393d mile ...
do
2d M.(to U.S.Gov.) on 394m.W. Mo.R.
d,, lst,394th to 639th m., l.g.• 3,000,000 ao;;
do
1st mort., coup., (Leavenwortll Br.) ..
do . Income bds, coup., 3d M.on 427 miles.
do
1st l'd bds,cp.or rg.,g.,on 2.000,000 acs
Coupon·certiflca.tes (see remarks b elow) .. .. .. .. . .
United N. J. RR.
cf:
Gcnal Companies-Stock ... . ...
General mortgage, gold, coupon ...................
United Co.'s mortgage, sinkini fund, registered ..
sted~g ld~n modrge, sinkinaofund
d.o
dolla r ·loa.n, mortgage ................
do •
loan, r eg .............. _.... .. ........
Joint Co.'s plain bonds ...... . ............. .......
do
do
........................ . ..
do
consol. mort. (sink'"' fund after 1880)
N. J. RR. & T. Co., 3d loan due State of N. J . .....
i~
tah Oentral-Stocl{ . . ....•... _. ...... _.........•... - .
1st mortgage, _gold .. . . ....................... . .....
"C'tah Southern, 1st mortgage, coupon . . ... ·-· · ...
do
\eneral mol'tgage (f'lr $1,950,000)
Utah Southern xtension, 1st mort., guar ........
·tah ti: i\ Tevada-Stook .. .. ···-······ ··· ·············
tah Nm·thet·n.-lst mort.ga~e .. ... . ............ --··
tah ct; Pleasa,it Valley-1st mortgage, gold ........
t-ica ct; Black River-.Stock...... . . . ............ ...
Mortgage bonds . ..... .. .. ............... . ...... .. .
Black River & Morristown, 1st mortga;re .........
Clayton & '£heresa, 1st mortga-f. ·····-··········
alley (Ohio)-Mortgagc for $-1,000,000 .... . .......
·---
....
-···
....
·---
---·
---·
·-··
---·
..<ff ...
6
·-6·g.
7
7
7
7
7
2
7
7
7.
3
7
4
.....
& D. N. Y., Bk. of Com.meroo.
Payable ½I by transportation.
It!. & N. N. Y., Loud. & Frankf't.
M.&N. N. Y., Bk of Commerce.
l\1. & s.
do
do
J. & J. N. Y., Loud. & Frankf't.
J.
June 1, 1898
1895 to'97
May 1, 1899
Jan 1, 1896July 1, 1916
July 1, 188 0
Q·.:.:.j-, Phi.la. aii«i'N:Y."Offices. Jan~ ·fo-, -i88Z
I\L& S.
A.. & 0.
M.& s.
!II.& 8.
F. & A.
M.& 8.
F. & A.
J. &D.
M.&N.
A . .& 0.
.&.
J.
J.
J. & J.
---& J.
Plliladelphia., Office.
do
do
London.
do
Philadelphia.
do
Philadelphia Office.
Princeton, N. J.
Philadelphia Offics.
N. Y., B'k: of Commerce.
. ... .... ..
New York, Offloe.
do
do
do
do
do
do
J.
,J..&. ·J. New Yorir.'i95. .Br'dway.
M. &N.
New York Oflioe.
M. &
ut;ca.
J. & J. N.Y., Nat-.Bk.of Com'ce.
J. & J.
do
do
J. & J.
do
·
do
M. & N.I N. Y., D. L. & W. RR.
J. & J.N.Y., Cont. Na1.. Bank.
N. Y., D. L. &W.
.....
8.,
....
----
I
. ..... .....
... .......
Mch. 1, 1901
Oot. 1, 1894
Mch. 1, 1894
Moh. 1, 1894
Feb. 1, 188~
Sept. 1, 19011
Feb. 1, 1883
.Jan. 1, 1889Nov. 1, 1889
Overdue.
.Tau:· 1,- .i890
July 1. 1891
July 1, 1909
July 1, 1909
Juiy-1,..i9os
1904
Sept. 30, 1181.
.Tulv. l~Ql
Jan:'1, U94..
Nov:··cisU
1890
1881
. .........
..........
mileo.
U tah re Ne11ada.-Salt Lake City, U. T., to Stockton, U. T., 40
Of the Union P:witlc collateral trust bonds, the issue is limited to 80 pe-r
oent of the following bopds: Omaha & Republican Valley RR, $850,000; The Utah Western made default J'a nua.ry 1, 1878, and the road we.a held
Colorado Central Railroad bonds, $2,526,000; Utah Northern Railroa<l, l>y trustees for the bondholders, and was foreclosed Nov. 3, 1880, a.:acl.
about $3,480,000; total, $6,856,000. The collateral trust bonds are a this company organiaed with $2,000,000 s,ook. (V. 30, p. 651; V. 81,.
. -direct oblil!'ntion of the Union Paoiflc Company, and have as their seourity p. 154, 536; v. 32, p. 356.)
the first mortgage bonds of the roads named pledged with the trustees.
Utah N1Jrthern.-In progress from Ogden, Utah, north into Idu.•
The excess of rnterest collected on hypotheoated bonds-say $22,000 per
year-forms a sinking fund to reduce tho principal. A.n inorease of Territory. Two hundred and sevent y-five miles built Ma.rob, 1880. T.b.o
$10,237,700 in the capital stock-was ma.do in February, 1881, by issuing road was sold in foreolos ure Maroh 28, 1878. Transferred to pl'8M»lt
company May 1, 1878. Stock issued to Dooe-mber 31, 1880, $4,176,000.
that amount to stockholders or rooord Feb. 1, at par.
The Kansas Pacific extended fromKan.sas City, Mo.t. to D enver, Col., The road. is ma.inly owned and built by the Union Paoifio. For the year
639 miles, wTth LeaTenworth Branch, Lawrence to Leavenworth, 34 1880 the gross earnings were $1,016,060; not, $552,416. (V. 33, p. 93.
·
·
miles. It was organized aa "Leavenworth Pawnee & Western" in 1861, 346.)
then changed to "Union Pacific, Eastern Division," June 6, 1863, and to
Utah re Pleasa'l1-t Vallcy.-Line of road Provo. Utah, to Pleaaan.f; Val"Kansas Pacific" on March 3, 1869. The Paeitlc Railroad acts of 1862
a.nd 1864 applied to this road, and gave it a subsidY. of $6,303,000 a:ad a ley, Utah, 60 miles. Road opened in 1879. Stock, $750,000. · Boruts N ld.
land grant of about 6,000,000 acres. The lands mortgaged were put in in New York in 1880. (V. 29, p. 539; V. 30, p. 163.
two trusts, 2,000,000·acres in the first, from the first to the 380th mile
w estward, covered by the first and second land mortgages, and from sales
Utica d: Black Ri11er.-Sepf;. 30, 1881. owned from Utioa, N. Y., '4>
of these lands there are $1,095,679 land notes field. The 3,000,000 Philadelphia., N. Y., 87 1niles-; l eased lines to Morristown, N. Y., to
ae-res irr the second ~ant, from the 38oth mile westward, are covered Ogdensburg, to Saokett's Harbor and to Clayton, 93 miles in all; total
by the D enver D ivis10n mortgage.
operated, 180 miles. Tho company has pa.id its rentals imd mod&rate
The outsta.ndin"' bonds of Kansas Pacific above are given less the dividends for a number of years. Tho general aooount, SeptemMr
amounts of each cl.ass held by the trustees of the general mortgage. The ·30, 1881, was as follows, condensed:
·
amount 9f $2,921,977 in coupon oertiflcates is made up of $297,780
from Eastern Division bon.ds, $541,050 from Middle Division, $1,000,895 Stock ..••.... . ·- ················ · · ........................... . $1,772,000
1,112,000.
from Denver Extension, $46,000 from Leavenworth Branch and about Bonds . ... . ........ . ... .. .... ...... .... .............. . ........ .
Sundry accounts and bal.anoea ... .. .... .. .. ........ . ........ .
55,645
$5,000 from the land grant bonds.
3~,2"17
The second land grant mortgage. with various other bonds, WM taken Surplus fund .... . .. .. .. .. . ~ . . .......................... . ·.• . ...
up with·the general consolidated mort,,,o-age of May 1, 1879, which covers
road and lands; thetrll8teesot that mortga"'e are Jay Gould and Russell
Total. .. .. ................ _........•.. . ................... _.. $3,259,~
Sage, and they held in trust on Jan. 1, 1881', the following bonds or the
Kansas Pacitlc, making $10,361,510 in a.ll, viz.: Leavenworth Branch, Road and equipment ...... : .................... . . $2,878,702
311,367
$308,000; first land grant,.$1,426,750; second land grant, 1.486,000; Leased lines, stocks, bo:adlfcand advances . . . . . .
income (unsub_ordina.ted) bonds. $165,400; income (subordinated) bonds,
6N88-$3,259,92~ •
$3,036,400; funding bonds, $1,500,000; Leavenworth Branch, coupon ~~~~~~~~~~::::.·:::~·: :·.·:::::::.·:: ::: : :::::::
oertifl.cates, $46,270; first land grant, coupon oertifl.cates, $243,615 ;
Income Account:
second lan<l grant, coupon oertifl.-gates, $159,075; D enver Pacific bonds,
255
$1,990,000. They also held $2,875,800 of the stocks and $2,133,000 of ~~!.11es~~~'. .~~.
·$81,440 $ ,GM
tke bonds of other oompa.nies controlled by the Union Paofio. In funding R entals ...... . ..... ... .. . ....... _...... . .. .. . . . . . . .. . . . 71,723 '
other bonds into the oonsol. mort., the old Kansas Pacific securities were Dividend, 4 per cent . ... . ........ . ........ . .... _...... 70,88-0- 22(.0U
e-:x::chan,,.ecl at par, exoept as follows: The. "funding mortgage " bonds
1·eoeivecl nothing for 5 over-due coupons; Leavenworth branch and unstamped incomes at 50 per oent and nothing- for over-due interest;
Ba.lance, surplus . . ... . .................. . ............. .. .. .
$31,595
stamped incomes at 30 per cent; second land grant at 50 per cent. A.dd surplll8, Sept. 30, 1880 ..............................•....
288,&8~
The interest on De.nver Extension bonds (sevens due May 1, 1899)
was reduced to 6 per oent..
$320,277
Surplus, Sept. 30, 1881 .................... . ..... ... ...... .
The Denver Pacifio-Denver to Cheyenne, 106 miles-was built under
the charter of the Union Pacific, E. D. (Kansas Pacific), and opened
The
surplus
is
chiefly
represented
by
advanoes
to
leased
lines.
n was
J&nuary 1, 1871. The Denver & Boulder Valley was opened under a 99
year lease from 1873. The company made d efault, and a receiver was deemed best to retain the cash part of it to meet emergencies, instead of
increasing
dividend.
The
Ogdensburg
exten!iion
is
doing
well,
and
appointed April 4, 1878. The stock of $4,000,000 went into this consolidation J anuarv 24, 1880, and the bonds are to be retired with the con- promises to be a good investment. Operations and earnings for fi.ve
years
pa.at
were
as
follows:
solidated mortgage of the Kansas P acific. (V. 29, p. 67, 95, 196, 405,
434, 513, 657; V. 30, p. 17, 93,118, 163, 169, 270 . 345, 545; V . 31, p .
Ne t
Div-.
Passenger E'rei~ht (ton;. Gross
46,68,88, 154,171,196,230,347,383.511,558;V.32,p.92,l23,232, Years.
Miles
Mileage.
Mileage.
Earnings. Earnings. p. ot.
~85, 412, 600, 660, 687; v. 33, p. 12, 46, 93, 126,359,470,491,624,
1876--7 ..... 170
5,336,245
5,065,167 $453,576 $220,261
6
042.)
1877-8 ..... 170
5,266,280
5,205,965
453,145
239,292
4
Unit.ed New Jersey RR. re Oanal Oompanies.-Lines of road. New York 1878-9 ..... 180
5,221,906
6,062,017
475,508
184,977 2
to Philadelphia and branohes, 123 miles; Camden to Amboy and branches, 1879-80 ... 180
315,771
~
5,836,600
9,204.,7%
590,760
152½1 miles; Trenton to Manunka Chunk and branches, 103 miles: total 1880-81. .. 180
246,780
4.
7,377,199 12,918,373
693,170
operated, 379 miles. Delaware & Raritan Canal, 66 miles. The United - (V. 28, p. 96; V. 29, p. 536; V. 32, p. 2 0 5.)
New J ersey Railroad & canal Companies were leased in May, 1871, to the
P ennsylvania Railroad for 199 years, at a rental of 10 per &ent on the
Utica 0-henango ~ Susquenanna Valley.-Sept. 30, 1880, owned froa
Eltock, besides interest on bonds. The smaller leased roads were taken Utica,
N. Y., to Green, N: Y., 76 miles; branch to Richfield Springs, 22
with their several contra.ct£. The Belvidere Delaware was leased to the miles; total, 98 miles. Road opened October, 1872. Leased to D elaware
Pennsylvania Railroad March 7, 1876, and since January 1, 1877, has Lackawanna. & Western at 6 per cent on stock. Has no bonded debt.
been operated as the Belvidere Division of United New J ersey Railroad Gross earnings, 1879-80, $544,616; n et earnings, $261,873; divid:eD.4
ystem. 'l'he n et earnings are pa.id over to the lessors in full as r ental. payments, $240,000.
Tile lea.ie has not been profitable in oash receipts to the Penn.s_yl vania
Railroad, and the net loss in 1879 was $939,889, and in 1880 $1,035,Clinton d: B'i?ighamlon.-Sept. 30, 1880, owned from Utioa, N.Y...
308; but the oonnection with New York was indispensable to the Penn- to Utica
Smith's Valley, N. Y., 31 miles. Opened Jlllle 22, 1872, and leased to
sylvania Railroad, and it is omly a question wllether it might not have New York & Oswego Midland Railroad. The lease was t ransferred t..
been secured at much less cost. Operations and earnings for fivo years the Dela.ware & Hudson Canal Co., which pays the rental of $75,000 ~
past (including the canal) were as follows :
annum. The road is operated by the·Delaware Lackawanna. & Wes~
Passenger Freight (ton)
Gross
Net
Div Gross earn.in/Is in 1879-80, $82,553; net earnings, $30,727. Capital
Years. Miles. Milea,,cre.
Mileage.
Earnings.
Earnings. p. ct. stock, $636,2~5. O. S. Williams, President, Clinton, N. Y.
293 302,1.88,535 190,635,678 $11,824,133 $5,074,017
l.0
373 143,132,968 2.56,134,099
8,960,697 2,694,480
10
Valley (N. Y.) Railroad.-Sept. 30, 1880, owned from Bingh.amto.,
373 139,245,413 255,027,095
8,398,534 2,895,592
10 N. Y., to State line o.r P ennsylvania. 12 miles. Opened October, 1871.
373 146,914,158 332,298,977 9,784,843 3,283,981
10 Leased to Delaware Lackawanna & Weste-rn. Gross earnings in 1879--800
10 $284,641; n et earnings, $167,121. D ividends paid, 60,000. K•aoa
171,055,377 381,885,409 11,54!,681 3,329,473
T aylor, President~ New York City. (V. 32, p. 92.)
• Utah Oentral.-From Ogden, Utah. to Frisco, 280 miles. _This was a
<'OMolidation July 1, 1831, of the Utah Central, Utah Southern and
Valley (Ohio).-(V. 33, P~ 247.)
Utah Southern Extension. Stoel!: placed on New York Stook E.x:ohange
Dec., 1831. Sidney Dillon, President. (V. 33, p. 687.)
Valley (Va. )-{V. 32, p. 687; V. 33, p. 178, 562.~
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~~'.1:1:~~::::::::::::::::::::::::: ~::::::
◄
ivi
RAILROAD STOOKS AND BON.bS.
fVoL. XXXIII.
Subscribers -wm conf'er a great Cavor by glring Immediate notice oC any error discovered In these Tables.
DESCRIPTION.
.J!'er explanation of column head.in.gs, &c., see notes
INTEREST
Bond6-Princi
Milee Date Size, or
Amount , _ _ _
_ _ _ _ _OR
_ _DIVIDENDS.
_ _ _ _ _ _ _ _ pal,When
D.ue•
of
of
Par Outstanding Rat:e per When Where Payable, aud by Stooks-Last
Road. Bonda VuJ.ue.
Cent. Payable
Whom.
Dividend.
on first page of tables.
__...;...___;,______________
____ --- - - -· - - - · -·-----1----
Yermont & Oana.da-Btook...........................
:Bonds, guarant:eed by Ve.mont Central...........
Mortg-at?e bonds....................................
lllisaisQuoi Railroad bond6 ...... . . . . . . . . . . . . . . . . . . .
l'ermont Oent1·al-lst mortg::ure, consolidated. . .. . .
2d mortgage, consolidate<l. : .......................
Eqtdpment loans...................... . . . . . . . . . . . . .
-Stan.stead, S. & Chambly bonds............. . ......
$ . ...
$3,000,000
73
1,500,000
. ... 1871 500 &c.
50,000
73 1 879
500,000
. .. . 1871 500&c.
3 ,000,000
. .. . 1 866 100 &c.
1 ,500,000
. .. . 1866 100 &o.
1,500,000
. .. . 1866-fl 500 &o.
444,100
. .. .
t867 100 &c.
1,000
1,f>08,600
1872
59
100
3,050,000
550,000
i865 100 &c.
150,000
1,000
1872
800,000
. ... 1880
703,500
14'0 1866 500 &c.
850,000
1 ,000
140 1866
1,000
145,000
140 1866
1,180,600
140 1 866 100 &c.
217,400
. .. . 1 871 100 &c.
i:l00,000
100
. .. .
1,500,000
. .. .
2,500.,000
....
600,000
. .. .
1,900,000
. .. . 1881
1,100,000
. .. . 1881
950,000
. .. . 1881
1,775,000
. .. . 1881
1,310,000
. .. . 1881
0)
. .. . 1881
1~000
52
1·,000
800,000
52 1874
100 22,909,700
'l,404
100 22,615,100
. ...
1,000 15,000,000
All.
1,000
1,600,000
131 1 880
4,500,000
2,62 1880
1,000
1,000
3 ,857,000
270 18~1
J. &
J. &
A. &
,J. &
1\1. &
J. &
M:. &
J. &
1\1. &
A. &
J. &
J. &
June 1, 187~
July 1. 1891
Oct., 1909
Jan. 1, 1891
Nov. 1. 1886
1891
1876 to 1889
J an . 1. 1887
1902
Oct. 7, 1881
July 1, 1883
July 1, 1885
1920
J ..&.J. Vicksb'g~·Mil!s.:·Treas'r. Jan. 1, 1890
J. & .J.
do
do
Jan. 1, 1890
J. & J .
do
do
Jan. 1, 1 890
A.. & 0 .
do
do
Jan. 1, 189-0
.J. & J .
do
do
1880
v~C:::? :~a~;!~~:tiie~tJ~1~ct.~~~ ~~~~•~ ~~~~~: ·
~~e°~~rf\~~~~~ ~~~. ~?·.~~~-~-~~ ~~~~:::::
Vermont Valley of '71-1at mort gfl.ge. ............ ..
Vickslmrg cf: Me1·idi-a n-lst series (red endorsed) ... .
2d aeries (blue endorsed)........ . . . . . . . . . . . . . . . . . .
3d do (black endorsed) . . . . . . . . . . . . . . . . . . . . . . . . . .
4th do (not endoFsed)............................
·@peoial loan, funding mortgnge. . . . . . . . . . .. .. .. .. . .
7iru<inia Midlmid-Stook. common...... . . . ........
1st pref. ate ck ... .... .. . .. . ;....... . ...... ... . .... ..
2d pref. stock..................................... . .
Bonds, 1st series.. . . ...... ........ .. . .. .. .. ...... ..
do
2d series.... . ....................... ... ... .
do
3d series...................................
- do
4.th series............... . .. . ... . ........... .
du
5th series................................ . . .
-<lo
6th aeries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income bonds, cumulative (for $4,000,000).......
Tirginia &
(for $6,000,000)........ .
1.st mortgage bonds . ... .. .. , ........................
Wabash St . .Louis & Pacifio-Stoo.lr, comm.on . .......
Prefen:ed stock, 7 per cent, (uot cuumulativ6} . .
~neral mortgage, gold (for $50,000,000) . . . . . . . .
1st mort. bonds on Champaign Hnv. & West .... . .
1st mort. bonds on Chicag-o & Btrnwn........ . . .. .
1st mort.. 1rold, on Cniro Division . . . . . . . . . . . . . . . . .
Tntckee-Btock
.:.:
1·ss1
m
isso
D. Boston, E. Blake & Co.
.T. Boston,Nat.Bk.of Redm
0.
.T. St. Albans , W. 0 . Smith.
N . .Hoston,Nat.Bk of Rerun
D.
do
do
N.
do
do
.T. st. Albans, Treasurer.
N. Bost., N.Bk. of Redemp.
0.
Boston, Office.
J. Boston, Fitchburg RR.
J.
do
do
I ....
6
6
5&6
3-4-5
5
4&5
6
1
riaitkoi·e.
'M.·& ·s.
::'ti.
M.
M.
l\I,
M.
& S.
& 8.
& 8.
& S
& 8.
J. & .J.
M'nthly
Q.-F.
Q:~F.
J.
J.
J.
J.
&
&
&
&
D.
D.
J.
J.
do
do
do
do
do
New'lorkor Alexand'a.
.. ... .... .
&nFran., Bank of Cal.
N. Y.:eo.'s.Agency.
do
· ·d o ·,
do
do
do
do
do
do
Ma·r·.·1·,·"iro6
Mar. 1, 1911
Mar. 1, 1916
Mar. 1, 1921
Mar. 1, 1926
Mar. 1, ~1931
Jan. 1, 1927
Aug.· 1.; ·isso
Nov..i5: .i881
June 1, 1920
Dec., 1910
July 1. 1910
Oc t. 1 , 1931
V.-mont ~ Oanada.-Essex Junction, Vt., to Rouse's Point, Vt. . 47
Virginia Midland.-February, 1881, owned from Alexandria to
mil.ell; bra.nohes-EBSex, Vt., to Burlington, Vt., 8 miles ; Swanton, Vt,, Gorctons,ille, 88 miles; Warrenton Branch, 9 miles; Oharlottesville oo
• Oe.nada line, 10 miles: total, 65 miles. This road baa been mix.ed up Lynchbnrg, 60 miles; Lynch bur~ to Danville, 66 mil~; Pittsville
inextrlca.bly with the Vermont Central, by which it was leased and . BranclJ, 9 miles; Manassas Junction to Harrisonburg, 114 miles (of
eperated, a.nd the bond.a of 1871 were guarant:eed by the Vermont which 49 miles leased to BaJt. & Ohio); Front P..oyal Branch, 1 mile;
Oentral. In 1879 the atookholdere voted an issue of $,500,000 new total owned, 347 miles. Leased, Orange C. H. to Charlottesville, 2S
IMtnde to take up those guaranteed boncta.
No satisfactory reports miles; Pittsville to Rooky Mt., 30 mile.a; total leased, 58 miles. Tota.I
llave been issued. In Deoomber, 1880, the Oourt decided in favor of the owned and leased, 405 miles. The Wwhington City Va. Midland & G t .
}llriority ot this company's bonds. Bradley B a rlow, President, St. Southern was a. consolidation (Nov., 1872) or t.ue Orange .A..lexanaria.
.A.1l>W18, Vti. (V. 29, p. 452; V. 31, p. -484, 653; V. 33, p. 610J
& Manassas and Lynoh'g & Danville railroads. The Orange AlexY'~ont Oentral (or OMtral Vermont) .-Windsor, Vt., to Rouae's Point, andria & Manassas was a consolidation (June 1, 1867) of the Orange &
-Y-t., 11>8 miles; branches and leased lines, 273 miles, included in tlle r e- Alexandria and the Manassas Gap. The Washington City Vir~inia Mid-.urns of the Vermont Central Company. O ther leased line, N ew Lon- land & Great Southern was put into the hands of a receiver July 1.,
aon & Northern, 100 miles. This company has been through more com- 1876, interest be.in/? m default, and was sold in foreclosure May l 3, 1880,
plioated and vexatious litigation than any r ailroad in New England. a~~ after litigation sold again D ec. 20, 1880. R eorganized as VirPoor'lf Railroad Manual of 1879 gives the following a.ocount of it: g1rua Midland, and bonds and stock issued as above .
.. Thia company ({;(>.ntral Vermont) was chartered under its preser.t titl e,
The Baltimore & OWo bad larg-e claims against the C'Ompany for
Ncn•ember 2, 1872. The V ermont Central Railroad Company was coupons. and after reorgamzation that company and the Gan-etts
ehartered October 31, 184 3 , and the road opened to Burlin!rton sold their large interest, awountiug to $3,001>,000 in stock, to the RichDeoomber 31, 184:). August 24, 1849, it leased the Vermon't & mond & D anv ille Syndicate. The plan of reorganization which was
Canada Railroad, tilen under construction 1 a,..,"Teeing to pay an a:i:mual a.green to will be found in the June, 1881, 8UI'PLEM&.NT under Waahingrontal of 8 per ce.1t on its cost, and creating
a mortgage on their own ton Cit,y Virginia Midland & Great Southern.
road as security for such payment.· ThiErlease has b een the subject of
Of the above bonds, the first series is f\ first lien between Alexandria
almost continual lW.gation since 1854. The Vermont Central Railroo.d and Gordonsville, including lease of Ubarlottesville & Rapidan Raill'oad
Company having defaulte d on its int:erest, and rental, the truiltees under a nd the Warrenton Branch; the second series is a secontl lie n between
the lease took pos.;ession of the road June 28, 1 852, and it baa ever .Alexandria and Gordonsville, includin g Warrent-on Branch and lease of
mnoe been operated by them under direction of the oourt. On the first Cba1lottesville & Rapidan RR., and a first lien between Charlottesville
of.January, 1871, a, lease was taken of the Rutland Rail.road and its' and Lynohburg; the third series is a third lien between AlC'-xand.l'ia and
leased. line, the Add~son Railroad, the lessees n-greeing to pay $376,000 Gordonsville, including Warrenton Brauch and lease of Charlottesville
per year, 11J1d in nd lition $40,500 a ypa,r for four years; $67,500 for two & Rapidan RR., and a seoond lien b etwcc1i Charlottesville and Lynchyears; $81,000 per year for six years, and $94.1,.500 per year thereafter bnrg; tbe fourth series is .a fom·th h e n between Alexandria aud GordonsTllis contract was .nod.i:fied February 25, 187ti, as hereafter stated. In ville, iucludrng Warrenton Bran ch and lease of Cllarlottesville & Rapidan
&ptember, 1861, a lease was also taken of the Sullivan County Rail- RR., and a thfrd lien b etween Cbarlottesville and Lynchburg; the fifth
road of New Ham-;>shire, at an annual rental of $25,000, but subse- series is a first lien between Manassas Junction and Harrissonburg, in,.
-q_uentl_y modified so that the rental d ep ends on earnings. About 1867 eluding Front Royal Branch and lease of road from Stra.sburg to Ha1Tiathe managers of tbe V(l~ont Central.Railroad purchased the stanst:ead sonburg to. the B . & 0. RR., and a fifth lien between Alexandria and
llhetrord & Chambly Railroad, extcndmg from St. Johns, P. Q., 43 miles, Gordonsville, including Warrenton Branch a nd lease of Charlottesville
to Waterloo., P. _Q., )a~ng t~erefor $5-00,000 in bonds. They also took a & R apidan _RR., an~ a ~ow·th lien. between Charlottesville and Lynchlease of the MiSSlrlQUOl Raill·oad. The road from Canada Line to st. !>urg; _the s~xth _Aeries l.S a first lien between L y-n cllbt~·g aud Danville,
.Johns is also @perated by this company, and is practically a portion of mcludrng P1ttsv1lle Branch and lease of Fran'ihu & Pittsylvania RR.,
it. though chartered by the Provincial Parliament under the title of Mon- and a sixth lien on lease of Charlottesville & Rapidan Railroad. The
1;re.nl & Vem1ont ,Junction Railroad Co. The V ermont & Canada Rail- $4,000,000 inoome bonds are issue<l to retire 1 st and 2d preferred stook.
road extends from Essex Junction t-0 Rouse's PoJnt, with branobes from every 10 shares or preferreil to be eutitled to exchange for 10 shares of
Essex to Burlington, and from Swanton to Canada line, in all 65 miles. common and a $1,000 mcome bond. '.l'he company will issue additionaJ.
The 47 miles from E!'liaex Jun ctjon to Rouse'a Point are included in the common Rtock, making the total $6,o-00,000, and from any surplus
mileage of the Central'Vermont RR." The road is managed by a board stock (nfter above exchan~e is made) each present shareholder will reof ~~tees n;ppointed by the Chancery Court of Vermont. J. Gregory ceive one addi.tio,:ial share. Earnings for four years -were as follows:
Smith 1a Pres.ident. In the two years, 1876-78, the gl'osa earnings were
Miles.
Gr0ss earnings. Operat'g exp'ses. Netearn•~s.
$4.<Y76,702, and net earnings, $1,461.139. The foreclosure suit llaa been 1876-7.. ....
359
$1,026,185
$678,595
$347,5tJO
pending a long time on the aeoond mortgage. (V. 31, p. 4B4, 653; V. 33 1877-8 . .....
310
925,044
701,490
223,558
p. 610.,
1 878-9.. . ...
::n8
954.737
607,655
341,081
Vermont & .MassMhusetts.-Line of road, Fitchburg to Green.fie.Id 1880 ...... ..
354
1,247,576
667,802
579,778
lll&M., 56 miles; branch, 3 miles; Vermont division from Millet's Falls'. -(V. 30, p. 193, 289, 345, 520; V. 31, p. 306, 430, 673; V. 32, p. 6, 71 ,
ltlaM., to Brattleboro, 21 miles; total, 80 miles. The road is leased te the 92; V. 33, p. 256, 275, 624.1
Fitohburg RR. for 999 years at 6 per cent. The Vermont se-0tion is
eperated under lease for fifteen years from December l, 1870 , by the
Vfrg-i11.ia & 1'ruckee.-Reno, Nev., to Virginia, Nev., 52 miles; branch
liew London Northern Railroad; lease rental, $48 , 000 in
line, Silver Junction to Silver City, 2 miles; total, 54 miles. Road
1880 and opened
• i a ooo
a.ft&w d 8 B t · M
·
November, 1869. The bonds are payable $10-0,000 per year at
1
880
~.
perrtfuear
ar •
u m
ay,
, it was sold to New option of company. Gross earning-a in 1880 were $1,124,300; net,
Loudon No
em. (V. 3 o, p. 6 00,)
$-149,746; dividend payments, $180,uuo; per cent uot stated. , D. O.
Yff"1notit Valley of '71.-Mar<'h 31, 1831, owned from Bellows Falls to Mills, President, San Francisco. (V. 32, p. 687.)
B~ttleboro, Vt., 24 miles, ruid by .Purchase of sto cl{ th e Sullivan County
Wabash. St. Louis ,1; Paciftc.-A consolidaUon of the Wabash Railwa\f"
Railroa4 from Bellows Falls to Wmcsor, Vt .• 26 miles; total, 50 miles. with the st. Louis Kansas City & Nortllem, November 1, 1879. cs.e·e
'Tlle Sullivan County road was not operated till June, 188 1. Net earn- 30 , p. 118 ).
··
ings or both roads year ending March 31, 1881, was $107,007.
Dec. 31 , 1 9 80 milen.ge was as follows
Yicksl>urg & Meridian.-Line of road-Vir.ksburg- to Meridian, Miss.
Main lineMiles.
Miles.
The O(_)mpany has been unable to earn full interest, but has po.id so faros Toledo, O., to Kansas City, Mo. 711 Centreville to Albia...........
26
earned. It has a land;!!rant of ahout 400,000 acres, of which about
Brn.ncbes
Marsville to .Pit'·"..,eld Ill
~ -,0.00. have been oert1,tle.d, and about 40_,000 nc:res sold. Reorg ,..lll·za.
·
"
.:...u ·· '
•• • •
"
-a
. D ecatm· to -Qmnoy,
Ill. . .. .. . . 151
•n "; 1n _pro~ (V. 32, p. 71), under w luoh will be issued a 1st mort- Bluffs to Ha,nnibal............
50 Total owned ................... 1,919
gage or $1,0 ,OvO; 2d mortgage, $1,100,000; Scl. mort.g age incorue, Clayton, Ill., to Keokuk, Ia...
36
Lines leased~1,918,000.
Edwardsv .. Ill., to E. Cross'g
10 Chicago to A.lta.mont, Ill...... 214
·
Gross earni~a. Netearninii:r. Ferguson, Mo., to St. Louis...
11 Streator, Ill., to Streator Juno.
41
Shumway to Effin~ham, Ill...
9
Quincy, Mo.;to .Milan, 1\10.. . . 105
Logansp't, Ind., to Butler,Ind.
93
1879-80 . ..... •·· .· ··· .......... .. ........... . .. . 4 24,389
129;386 RosebeITy,M.o.,t o Clarinda.fa.
22 Contralia to Colwnbia, Mo....
22
BALANCE Sll.llliT O F G.E..""-"ERAL LED GER, FEB. 29, 1880.
Urban a, Ill., to Havana, Ill... 100 St. Joseph t-0 N. Le.xington,Mo
76:
· ·
Dr.
Cr.
WWte Heath to Deca.tur, Ill. .
31
Road ruid equipment ... $3,046,563 Capital stock . ... . ....... $357,407 StateL.,Ind.,toBurlingt.on,Ia. 215 Total leased ................... 560
Extension to Miss. Riv.
88,542 Preferred stock........ . 1,042,517 La Harpe, Ill., to Warsaw....
3 2 Total operated, Dec. 31,1880. 2,479
l,liss. Riv. landing front
50,100 Funded d ebt ..........•• 3,135,525 K eokuk, Ia., to Van Wert..... 148
Extension tonnage dues
60,009 Billa payable.. ....... ...
41,449
Of this, 1,176 miles are ou the ast:ern Division, 882 miles on the
Bills receivable. ...... . .
38,185 I Land so.rip..............
8 34 Western Division and 421 miles on the Peoria Division.
Protlt and loss . ......... 1,294,330
In July, 1~81, the Peoria Pekin & Jacksonville, 83 miles, the Indianap.
- - - - i Tota. ................... $4,577,732 Peru & Chicago, 161 miles, and the Springfield & Northwestern, 4rr
Total.•···· .. •·· · •·· .. $4',577,732
miles, were reported 88 sold t-o this company. Butler & Detroit line w&e
-iV. 30, p. o4 3 i V. 82, p. 71~ 611J 660 ; V. 83, p . 75., 125.}
ope.ned July 6. On Sept. 28, 1881. tlle stockholders contlrmed the pur-If;>
0
ill~:::::::::::::::::::::::::::::::::::::::::: 1~gJ!i
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I
$i~g:!~i ll\~1~~~;J.~t~:f!~1J£ dt
DECEMBER,
RAILROAD STOCKS AND BONDS!
18H.J
lvii
Sobseribe.rs -will eonCer a great Cavor by giving Immediate notice oC any error discovered In thette Tables.
DESCRIPTION.
For explanation of column headings, &c., see notes
on tln,t page ot talJles.
Wabash St. Loui.s ~ Paciftc-(Oo11ti1iuea.1l st mort,, gold, Detroit Division .. . ........... .. .
1st mort., gold, Indianapolis Division ........... .
J.st mort., gold, Iowa Division . ...... .. ........... .
'Wabaab1 1st mort. (Toledo & Illinois) ............ .
do
1st mort. (Lake Erie, Wab. & St. L.) •..•.
do
1st mort. (Great Western of 1859) ....•.
do
1st mort. (Q.uincy & Toledo) . .. .... ..... .
odo
1st mort,. ([llinois & Southern Iowa) ... .
<do
2d mortgage (Toledo & Wabash ) ...... .. .
do
2d mortgage (Wabash & We8tern>. .. .. . .
2d mortgage (Great West. of 1859) .... .
,do
do
Oonaol. M., (on all but Dec. & E St.L.) ..
,do
lat rnort., (Decatur & E. St. Louis) .. . .. .
do
Funded d ebtb<1s{sec.by d ep'sitofcoups .)
do
Mort., gold, sink. fd. $25,ooo:arter '82 ..
do
Seney mortgage ......................... .
Eannibal & Naples, 1st mortgage . . ............ . . .
St. L. K. C. & No., 1st mort. (North Missouri) ..... .
do
real estate & r a ilway 2d mort ... .
do 1st & 2d ~Lon St. Cimr. Bridge,coup.or r g
do 1st .111., Omaha Div., ~ld, s. f., coup.or r g
do 1st mort.. g old, Clarmda Branoh ..... .
Toledo Peoria & West ., l .st mof-tgage ....... . .. . .. .
do
1st pref. income, oonv., int. guar ..
do
2d v.ref. income bonds ... . ..... ... .
Quincy Mo. & Pa.c,1:fic, 1s t raort., ~old (int. guar.J.
Peori11Pekin & J acksonville, 1st mortgage ...... .
Ware .River-stock (guaranteed) .... ........ . ....... .
Warr.en (N.J.}-Stock ............................... .
INTEREST OR DIVIDENDS.
Bonds-Prln<'t·
.J?::,e Sii~ror
Amount
Rate per Wile
Whe P
d b
nd
Road. Bonda. Value. Outsta ing
Cent. Payable,
re {t~aoX:.' an
y
Dnidend.
bl
M.~}08
112
87
143
75
167
180
33
29
75
167
1 80
490
109
.••.
....
600
50
354
354
....
146
22
237
188 1
1 88l
188L
1853
1853
1863
1865
1862
1853
1858
1 86 5
18-07
1 869
1877
1879
1877
1879
1865
1874
1878
1879
1879
1880
....
102
83
4!l
18
18
18
188-0
1879
1864
... .
1855
1870
1875
i~t
~o°ii'!~i~g~orlgag;::::::: : : : : : : : : : : : : : : : : : : : : : : : :
Wasal,ch <l: Jordan ·valley-Gola bonds ............. .
Waskin(lton Oity cf Pt. Look-01,t-lst M. bonds, golu
We.st Jersey--Stock ..... . ... ..... ..... ............... .
Loan of 1 8&3, guaran~ed by Ca.mden & Amho.v ..
.... v . so
j
·i·2 i873
128
. 60,
... .
18~~
6 g, .T. & J . N. Y., Oo.'s Ag-ency.
$1,000 $2,052,000
July 1, 1921
·1,000
2,000,000
6 g. J. & D.
do
do
Jan. 1, 1921
1,000
2,269,000
0 g. M. & S.
do
do
Mar. 1, 1921
1,000
900,000
7
F. & A. N. Y., Metropohtan B'k. .Aug. 1, 1890
F. & A.
do
do
1,000
2,500,000
7
Aug. 1, 1890
1,000
F. & A.
do
do
7
2,496,000
Au~., 1888
1,000
7
M. & N .
do
do
500,000
Nov. 1, 1890
F. & A .
do
do
1 ,000
300,000
7
.Aug. 1, 1882
M. & N .
do
do
250 &o.
1,000,000
7
May 1, 1893
M. & N.
do
do
1,500,000
7
100 &c.
May 1, 1878
1,000
2,500,000
M. & N.
do
do
7
May 1 , I893
Q.-F.
do
do
1,000
2,610.000
7
Feb., 1907
1,000
7
F. & A .
do
do
Aug., 1889
2,700,000
6 &7
F. 1..~ A.
do
do
500&0
2,94.0,357
Feb. 1, 1907
do
do
1,000
1,400,000
7 g. A. & 0.
April 1, 1909
J . & J.
do
do
611,000
7
Jan., '81 & '82
1,000
500,000
J. & D.
do
do
7
June 1, 1909
1,000
6,000,000
7
J. & J. N.Y.,Nat Bkoi' Oom'rot- July 1, 1895
1\I. & 8.
do
do
/
1,000
3,000,000
7
Sept. 1 , 1895
do
rlo
1.000
1,388,500 6 &7 g. A. & 0.
rno3-1908
2,3 F;O,OOU
7 g. A. & 0.
do
do
1,000
.April 1, 1919
6 g. 1''. & A.
do
do
Z64,000
.Aug. 1, 1919
1,000
4,5 00,000
....
do
do
1,000
7
Oot. 1, 1917
4
2 ,900,000
1,000
1,000,000
..6.g. · J ..&.. J . N.Y.,M(}tropoi1t)n N.Bk Oof:° i;· i9091,000
925,000
[IOO &c.
1,000,000
7
J. & .J. N. Y., Imp. & Tra<l. B'k . .July 1, 1894
750,000
100
3¼ J . & J. Boston, Bost.& Alb.. RR. Jan. 6, 1689.
100
1,800,000
31.g ~A. & O. N.Y., Del., .L . & W. RR.
O-0t.. lA81
750,000
7
A. & 0 .
do
do
April 1, 1900
7
M. & 8.
do
do
Maroh 1, 1905
600.000
7
M. & N. N. Y., Kountw Bros.
. ..... . .
884,000
540,000
6
. & D. Baltimore, Balt.& O.RR.
1003
""50 1,359,750
~
Pl..\ilad:a.RR.cg~omco ~~h~.5i
500 &o.
313 ,500
: ~- t
,ehase· of Cairo & Vincennes railroad, the Danville & Southwestern, and
the St. Louis Bridge, and the total ml:eage, Oct., 1881, was reported at
3,257. (See V. 33, p. 126.)
The P resident's report in February, 1881, said: "An extension of
~ur Eel River line, from Butler to Detroit, will be completed eo.rly
in the sprin,e; (opened July t:l, 1881,] which will bring our road to that
important point, where1 by a favorable traffic arrangement, our line will
oonneot with the Great; Western of Canada, and by way of that road
with.Buffalo and the Ea.st. .An extension of the Peoria Division via the
Missouri- Iowa & Nebraska through Southern fowa, reo.chea Humeston,
:from whioh point the road is in pr<><'-088 of construo.t lon, jointly with the
Chico.go Burlin~ton & Quincy, due west to a J.)Oint of junction with the
Omaha Division, t hus opening almost an alr•lme from Toledo nnd Detroit to Counoil Bluffs and Omn.ha, oonnectin!-(' with the Union Paoiflc."
Preferred stock has a pI1or right to 7 per cent (non•oumulatlveJ; then
common. to 7; then both share in any surplm~.
The annual report for 1880 was published in the CHRONICLE, V. 32, p.
310. .An abstract is as follows:
FREIGHT AND PASSENGER TRAFFIC,
1880.
•!879.
Nn.mber of tons hauled... .. .. ... .....
4,5~3,187
3,505,391
Number of tons hauled one mile ...... 1,105,783,399
702,422,732
A vera.ge rat~ per ton per mile . . . . . . . .
00· 86 2 ots.
Ov·724 eta.
Number of passengers c-arried . . . . .
1,992,763
l ,421,009
No. of passengers carried one mile...
9 7 ,774,576
80,:{29,169
Average rat-e per passenger per mile
02·398 cts.
0 2·514 ots.
* The statistics for 1879 are for the Wabash a.nd St. Lonis Kansas City
& Northern railways proper~ no figures for 1879 of lines aoquired in
1880 having boon ascertaineu.
.
COMPARATIVE STATE~lENT OF IURNINGS.
1 879 ...
Freight . .......... .. .................... .. .. $ 6,476,275
2
t~:~~~~::::::::.::
·::::::::::::::_::: :: ::: ·~~~J~
Express. ....... ... . . . . . . . . . . . . . . . . . . . . . . . .
170,918
1880.
$9,532,334
2
·~tt:i%
286,430
9~,3 87
43,818
$U,1 ~4.,1J9
$1::!,4~8,111
Operating expenses...................... . . $ . ... . .. .t
$7,787,348
Operation cost. ............................
68·09
62·65
.Average number of' mi'es operated.......
1,655
1,94 2
Averai,re earnings per mile . .. . ............
$5,512
$6.398
* Inoludes the earnings for the oorresponding periods of 1879 of lines
.operated in that year aoquired in 1880.
t The oper11ting expenses for '79 of lines a.oqulred in '80 not a.aoertained.
Miscellaneous..............................
INOOlUE ACCOUNT .
The earnings for tbelear ending Deo. 31, 1880, were .. .... $12,428,1.11
Add received for r en of tracks, &c..........................
3:-l,fiOl
$l ;t,.tf.H,71J
The operating expenses were (62 per cent)..................
7,787,34 9
Net ............... ... . ........ . ..• .... .............. . . .....- $-1,674,:;64
Appropriated aa follows:
~~~=-·::.·.·:::.·::.·:::.·.-.-:.-.·::::: :: ::::::::::::.:. $2,~i;:~gg
514,JoS -$.'l,6.'55,184
Taxes, rent of oars and misoolln,neous...... ....
Leaving surplus for the year over fixed ohargea . . . . . .. $1,ulB,180
ri .:,f the Western Division on lea.qect ro39.e inolude 7 per oout
The. n,ntn
on !¼;322.50'} bonds of St. Louis & Oed~r Rapids RatlroadL 7 per oont on
~7,700 bonds of St. Louis Oouncil Bluili! & Omaha; ,, per cent on
"4~<?_00 of Brunswick & Chillicothe; 7 on !i}l00,000 Boone Co. & B .;
~ on ~ 57,000 St. Louis & St. Josopb; and 7 par oent on Kansas Ctty
Bridge and the Union Depot, St,. Louis. $7: 5,000. ·
.
OOND&NSED BALANCE 81:IEKT DEC. 31, 1880.
Dr.
-Ooat of rood, ~uipment, &c . ... .. ........ . ....•••..••..•. .•• . f83,9 23,.952
~~~ee~~tanr.~-~ -~~~:: ~:::::::::::::::::::::::::::::::::
Barney & Smith Manufooturini. Co., 6os1i of oars.. . . . . . . . .
Expen,Utures for oonstnrntion a.nd equipment*.... ...... .. .
Or.
~~tMi
14.H,21'>0
2,970 ,'27 i;
lj;8B,.:.W0,475
<Jommon stook ...................... . .......................... $ ':!1 ,614,.500
Preferred stook ..........••....•.•............•...........•• 20.4 !">3.000
=~~?1_.~?::.::·:·:·: ·::·:·:·::·:::::::::::::::::::::::::: ~tffi~~
Bakl.noe8, ooMisting of oud1ted vouchers, interest oooroed
but not due, taxes, &c.............. . . . . . . . . . . . . . . . . . . . . . . . .
2,682,238
inoowe a.ooount s1noo Jim. 1, 1880......... ...... ...... . .....
1,,n9. 180
-•--l',200.475
* Gen'l mort. bonds have slnoo been 90ld to provide fOI' tlrl8 expenditnre.
Preferred 8took of the new oompany wa.a iaau.ed for pret&red l!WOk of
'the St. Louie Kruieas Oit,y & Northern, and for on&-bruf of Wab&ah et<>•k;
oommon 8took of new compaDy w&S laffued fOI' the a;. Louis Ka!WM! City
& N~ern oom.mon and for ooo-oolt ol Wabosh etook. The Trnsteea of
tbe general mortgage for $60,000,000 ru-6 the Oentral Trust Uo. of N. Y.
.am James Chene,- of Indiana. It provides tor ta,..tng up all tho old
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Federal Reserve Bank of St. Louis
P~,~~:·
\ss31
8
bonds as they mature, or by exchange at any tlme the holders offer
them, and reserves $33,000,000 for that pm-pose; and the bonds so taken
up are not canceled ~mt rema.in in the hands of the trus-tees as the prop
erty of the trust. Then $6,000,000 are aasipie<l for equipment a.nd permane.nt improve monts, a.nd the balance of ii,11 000,000 for the aoquisi
tion of new roada, &c. All the roads owned and all the right and title to
roads lease d and oontrolled are covered by:.. the mortgage dood. The
mortgage may be foreclosed af ter six months' default of interest, if a
majority in valt1e of till the bon dholders so request the trustees. First
mortgage on St. Charles Bridge is for $1,000,000, and is 6 per (l{"D.t now,
running absolutely till 1908. The mortgage on Iowa Division was
given in place of the Mo. Iowa & Nebra.ska mortga"'e bonds. The mort
gage on the Inclianap_olis Division ie aubjeot to $ 275,000 prior bonds.
The Toledo Peoria & War. company- m:lde default Dec., 1873, and was
operated by a Reoeivcr until sold m foreclosure on .Jan. 20, 1880. I~
was plll'ohased by a. commit-toe of bondholders for $6,000,000 a.nd reorganJzed as Toledo Peoria & lVest ..·rn. TWs comJ)fl.ny made a iease for
the t e rm of its charter to the Wa,ba.sh St. Louis. & Pacific on terms as
follows, viz.: That the Wabosh Paci.fie guar::mtee 7 per cent on the
$4,500,000 first mortgage bonds of the Toledo Poo1ia, & Western.
The $'2,900,000 inoome bonds to be !rt.Ul.rantood at 4 per oent
and to be C'onvertible at par for Wabash~- Louis ~~ Pacifio preferred
stock. The $1,000,000 seoond preferr6'l income bonds are also convertible into Wu.bash preferred st.ook, share for share. Tho stook of theToledo Peoria & Warsaw wn.s sealed 2:5 per cent common, 30 per cent.
second preferred a.nd 50 p er oout first pre.!erred, en.ch shareholder
rooelvin* this a.mount in new stock of the Toledo Peoria & Western
stoclr. 'Ihe Toledo Peoria & Western stock ($3,000 ,0H{)) is oban~ed into
Wa.basll common stock, three shares for one. (V. 30, p. 118, 170, 249
264,358,409,434,494.520, 568; v. 31, p. 6t, 7~0-' 124, 15-l, 171,216.
229, ~30, 240, 259, 304. 330, 38~. 383t 3,97, 4~, 445, 453,.485, l,>36,
551. 673; V. 32, p. 71, 289, 310, 3 .>6, ~d6, ~37. 454, 613. oS5, V. 33, p.
i 8 ,75,93,126,2u2,2Z4,25t:l, 305,387,469,~2 , 641 , 687J
Ware R.-oer.-Palmer, Mass., to Winohendon, Mass., 49 mll68. It is
leased for 009 years to the Boston & Albany Railroad at a renta.l oi' 7
per cent per llJlllum. I. A. Rumrill, President., Springfield, Mll,88.
Warren, N. J.-Lina of road, New Hampton Junotion to Dela'\vari,
Bridge, N. J., 1 814 miles. The road ls leased to D elaware LacJmwanna
& WeHWrn at 7 per oent on stock and bonds. Gross es.min~ 1879
$4 1 0,040; net ea.rnlngs, $313,198; interest paid, $92,698; d1Hdends,
~126,000. (V. 32, p. 611 .)
Wasatch <I Jord.f't n Valley.-Rriglrn.m City, U. T., t-0 Alta City, U. T .
u miles. In 1878 the Brigham Canon ~& 0-<lJ'.llp Floyd was merged
In this. and it ia stated that there are nfortgagee prior to tbe above
!i'or three yt'ars, 1 876--7- 8. the a verage n et earnings wne $131,186
(>er
Stock is $1,100,000. C. M. Scotield, Presulent, N. Y. City.
annum.
Washington Olt!J ~ P.oint I.,ookout.-Hyattsville1 Md., to Shepherd
Md., 13 mi.le& Thl8 rood was opened in 1873. It 1s leased to the Balti
more & Ohio for $36,000 gold per annum. 'l"he stock po.id in is
$1,000,000. Sa.me office.rs 118 Baltimore & 01.tio Railroad.
West Jersey.-Maln line-Oamdcu to Onpe Mo.y and Bridgeton, 1.11
mil es; lc.aaed linoo, 27 miles; total, 128 miles operntod. Tile company
hold8 as 1~880ts $6811,000 of vo,rious stoolcR and bondll. The bonds due
in 1 83 :u-u reduood by purC1hase 11nd bonds of 1909 increfl.8ed oooord
.ingly. In 1880 the rentals of Swedesboro RR. fl.lld Salem RR. we.re $37,
514 mo1-e thrui thetr n et earniugs; the n et protits over int. and rental&
on entire line wore $62,925. Operations for tln-oo years pa.s1; wore:
Pn.RSenger
Freight (t-on)
Gross
N~
Mileage.
Mlloo§re.
E.:'lrllinga.
Earnings.
1878 . . ... ... 15,386,915
3,624,708
$541,678
$202,985
1879 . . . . . . . . lh ,t174, 109
5,217,286
586,17 8
253,812
1880 . . ... . . . 25,372,305
5/>57,06!>
758,69v
275,561
- (V. 3 0 , p. 431; V . 32. p. 366; V . 33, p. 256.)
TVest J f';1·&e11 d Atlanli6.-Ne·w fleld. N . .J., to Atlantic Ctty, N. J., 34
miles. Opened June 17, 1ss, ,, and operated by West J er s-ey Ha.l:lroad
on a joint trafflo agreement and 2.5 per cent of ~ reooipts on W~
J orsey from trl\.ffio of this road io be &pplied as emking fund .for bonde
Stook is $500,000.
Ws.,tm-n Alabama.--Line of road--8olma to Opcllka, Al6., 116 miles
bronehes, Opelika to West Point, 22 mll~ 1 and Opelika. io Colu:mbua, 2&
miles• total, 167 milea. WI\S a oou90lidauon in 1870 of Mor.tgomery &
West ~ t and W&~'6rn of Alabama. Bold May 10,._ 1875, in forool08U'l'e
and pnrobaaed jointiy by the Georgia Railroad ana Oentml Railroad of
Goorgia. The old ll'took and inoome bonds were wiJ)(ld out in tbe fo:reol08ure, and tbe propel't¥ is represented by t.be bondecf diebii and $361,006
due oooh ot the ~ e -oompQllies. There are ale<> $-iib,000 ~ mort,...
gage 88 rA. •M o ~ & Wess- Point RR. due Har 1, 1888. Too gi-oN
and net earuingB wwo boon aa f ~
1'et
Bonded.
~
1876-76 ...........................
1876-77 ......•..••... ··-··· .••. .. 4.67,f,9'7
1877- ?8 ...••..•••. ·•••·••·••·•••· 644,107
1~79 ... ...... ·-·•···• ..... ;.. • •• 0711,m
-(V. 30, p. M~.)
==100,624
1?6,65~
lSU,994
,~~
:;1()4,24&001,240
1·aa,ooo,.,
.,,vm
...
ltAlLROAD S!.tOOKS AND BONDS.
[°VOL. XXXIII.
Subscribers -wm conCer a grea, Ca-vor by glTlng Immediate noUee oC any error discovered In theae Tables.
I ..,., I
.
DESCRIPTION.
Mi'l,_ Date c,""', or
INTEREST Olit DIVIDENDS.
· lBonds-Prin:n,1Amount'
·
·
pal,When Due.
For explanation of column headings, &c., see notes
of
of
Par Outstanding Rate per When Where Payable, a.nd by . Stocks La.st
on first page of tables.
Road. Bonds Value.
CeJlt. Payable
Whom.
Dividend.
=zrv
--------------------- --- ----1--------,-------1---·•·----------~ -1-- - - - JYut Jersey-(0ontinuecl)I
1st mortgage 1oan .............•....... . ....... .. ... •
1st
do
consolidated ..... . ....... . .......... .
Consolidated mort~age .. .. . . _......... ... . .. . ... . .
lfut Jersey cf .Atlantic-1st mortgage . . . .. . ........ .
'Western (.Ala.)-Western RR. bonds, before consol..
2d mort .. guar. by Cent. of Ga. and Ga. RR. & B. Co.
Western cf .Atlantic (Ga)-Income bonds .... . ....... .
Western Mat·yland--lst mort., endorsed Balt. City ..
lat mortgage, unendorsed ........................ .
2d
do
endorsed by Baltimore ............ .
2d
do
endorsed by Wasnington Uollllty ..
2d preferred mortgage, unendorsed .............. .
3d mortgage, endorsed by Baltimore .......... . . .
4th
do
endorsed by Balti1r ore ............ .
Funded coupons . ....... .... ... . ....... . ........... .
Western Minuuota-lst mertgage .................. .
Land grant bonds ...... ..... .. ... ........ ...... .. . .
Western Nortn Oarolina-lst m01tgage .. .. . ....... .
Western Pennsylv<f,nia-lst mortgage ......... . .... .
lat mortgage, Pittsburg Branch .... . ............. .
wii~e~8;!t~~Jftlf
($325:ooo· <i it i>r.cf.)::::::::: ~
Wheeling <I: Lake Erie.-lst mortgage, gold ..••.....
Wilmingwn Ooli,m)ia <f: .Augusta-Stock .......... .
New mortg age ................... . .... . ............ .
Wilmingt-On & Weldon-Stock ....................... .
Sterling l)onds ...... . , .......... ............. . ..... .
do
do .......... . ... ...... . ... . ......... ... .
Sinking fund bonds, gold ............ . .. .. ......... .
1Hsconsni Oentral-Consol. mort., land grant, pref.
1st series ........ , ................................. .
2d series, income . . . . . . .............•.............
Worceste?· tt Nashua-Stock ......... ................ .
Bonds, mortgage .... .. ............................. .
Bonds, mortgage .... , ............................ . .
Bonds, mortgage ..... .. .. .. ....................... .
Nashua, & Rochester-Stock ...................... .
do
do
1st m., guar. (for $700,000\
38
63
128
46
44
160
138
90
90
90
90
90
90
90
·io
130
57
28
0
62
179
179
326
326
326
46
1866
1869
1879
1880
18G8
1 870
1873
1858
1858
1867
1867
1868
1870
1872
1880
1877
1877
1863
1865
1879
isso
isso
1880
1880
i873
"4g
1875
48
1874.
$500&c.
500 &c.
$1,000,600
1,000,000
341,500
1,000
500,000
600,000
1,000
1,1 58,000
690,000
500 &c.
100 &c.
200,000
500 &c.
400,000
500 &c.
300,000
500 &c.
300,000
500 &c.
600,000
500 &c.
875,000
500 &c.
1,000,000
530,250
500,000
1.000
1,000
5 66,000
850,000
500 &c.
800,000
1,000,000
100 &c.
1,200.000
1,300.000
1,000 15,000 p. m.
960,000
1 ,600.000
100
1,456,200
648,700
221,400
749,000
400,000
3,800,000
5,700,000
1,789,800
100
275,000
100 &c.
2 50,000
500 &r .
400,000
1,305,800
700,000
500 &c.
500 &c.
l~?-~C-1
Western <f: .Atlaniic.-Atlanta, Ga.~ to Chattanooga, T enn., 138 miles.
Built by State of Georgia and openea in 1850, and by an a ct of October
24~1870, was leased to a company for twenty ye ars at a monthly.rental
of ;i,25,000. In 187'7 iross 9arnings w ere reported at $1,091,895, and
net, $460,905. None 1aier given. (V. 29, p. 480; V. 32, 18-1.)
Western Marylan<l.-Line of road-Baltimore to Williamsport, Md., 90
miles. The capital stock is $682,250. The company was largely assisted
by the city of Baltimore, and was unable to pay all its interest. A compromise was made with the preferred second mortgage bondholders for
funding coupons. See CHRONICLE, Vol. 29, p . 458, where the annual r eJ)Oli: for 1879 was published, which contained the following informati0n:
4
' During the year an amicable adjustment bas b een made with the preferred 2d mortgage bondholders, by the adoption of a mutually satisfactory funding scheme. Under this arrangement1 the overdue coupons upon
$390,000 of the $421,500 of these bonds h ela by individuals have been
~ded, and it is expected the balance, principally held in · Carroll
oounty, will be funded by Jan. 1, the time at whkh the company has
agreed to resume the payment of interest upon all such bonds represent.
ed in the funding certificates. The finance commissioners of Baltimore
city have funded $113,475 first mortgag e and $112,455 preferre<l
1,ooond mortgage coupons. The old funding certificates for $177,596 of
:first and preferred second mortgage coupons issued in 1870, and uearing
S per cent interest, fall due July 1 , 1880. A number of theprincj,pnJ holders of these have been consulted, and all seem willing to renew at maturity
at 6 per cent. (Carried out thus in 1880.) The arrearage of interest
due the city on the $72,000 first mortgage coupons, purchased in 1874,
will be provided for by Jnstalhnents as early as practicable. Once able
to pay the mterst upon its first and preferred second mortgage bonds and
funding certificates, with the arrears above m enti0ned disposed of, all the
other bonds being endorsed by Baltimore city and Washington county,
the company will be relieved of the expensive litigations and the uncertainties which have h arassed it from its inception to the present time,
and the day for such a condition can no longer be r e.mote."
The Balti1nore & Hanover RR. was completed to its connectioR with
this road in 1880. The operations for five years have been as follows,
but in 1878-79 the construction account was closed n.nd nJl expenses
charged to operating expenses, on which basie net earnings have since
been relatively decreased.
Passenger
Freight
Gross
Net
Earning-f'..
Mileage .
Mileage.
Ea.rning-s.
1875-76... ... .. 6,737,061
4,631,932
$ 311,902
$96,346
l8':'t3 77 . . . . . . . . 6,582,24 1
4,692,089
332,086
112,145
129,927
18?'7--78 . . . . . . . . 7,411,061
5 ,180,9 82
347,202
73,095
1878-79. .. . . . . . 8,502,388
5,469,519
347,442
1879-80 ........ 10,705,925
6,645,328
397,564
88,278
·-{V. 28, p. 97,121,147,454; v. 29, p. 458, 6'71 .)
Western .Minnesota.-Sauk U apids, l\finn.t to Brainerd., Minn., 61
miles. Road ope.ned Nov. 1, 1877. Leasea to the Northern Pacific
Railroad May 1, 1878, for 99 y ears. Stock, $800,800. Last dividend
July 1, 1881, 3 per cent. The land grant is 537.842 acres. George L.
Becker, President, St. Paul, Mi.Dr.. (V. 31, p. 430.)
Western North Ca,rolina.-Road as projected-Salisbury, N. C., to
P.i.int Rock, Tenn. State line, 184 miles; in operation-Salisbury, N. C.,
Swannanoa, N. C., 127 miles; branch line-Newton Junction, N. C., to
Newton, N. C., 3 miles; total projected, 184 miles, and operated, 130
miles. The road was financially embarrassed, and was purchased April
17, 1875, by commissioners for the State or North Carolina. It is proposed to complete the road to the T ennessee State line. Stock, $1,400,009. J. W. Wilson, President, Morgantown, N. C. ( V. 30, p. 249; V. 32,
p.100; v. 33, p. 346, 385, 580.)
Western Pennsylvania.-The road nms from Blairsville to Alleghany
City, Pa., 6312 miles; branch to Butler, Pa.., 21 miles; total, 84½ milesCompleted in 1865 and branch in 1870. Leased to Pennsylvania Railroad, the lessees paying net earnings to lessors. The Pennsylvania Railroad, les~, owns $993,050 stock out of the total amount of $1,022,450,
$288,000 of branch bonds, and all of $1,200,000 general mortgage
._onds. In 1878 gross earnings ,-.ere $547,175 and net earnings $231,175.
White Water.-Harrison, 0., t-0 Hagerstown, Ind., 62 miles. This was
onnerl:y the White Water Valley, sold in foreclosure May 2, 1878, allll
oorgamzed und r this title. Net earnings in 1878, $17,645; in 1879,
$14,099; in 1880, $210. Elijah Smith, President, Boston, Mass.
.
Wheeling & Lake Erie.-RoMl under construction-Wheeling. W. Va.,
to Toledo, O., 200 miles, and branch, Norwalk to Sandusky, 0., 21
~6fernB~fe~~~~°f ~-New York, July, 1880 by N. Y. New England &
'°
Wilmington Oolumbia & .A ugusta.-The road extends from Wilmington
N. C., to Coluntbia; S. C., 189 miles. In 1880-81 there was expended
$42,000 out of earnkigs for locomotives. Paid 3 per cent dividends ·for
1880 and 1881. Eatnings lla,e been:
Yea.rs.
·
Gross Earn'ga. Net Earn'gs.
1876-7 . ... ........... . ........... . ......... . .... $518,225
$87,630
1877-8..... •• .. .... . •.. . • . . . . . . . . .. . . . . . . . . . . . . . 509,699
98,659
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6
7
6
6
8
8
10
6
6
6
6
6
6
6
6
7
7
7
6
6
7
J. & J. Phila., Pa.RR.Co.Office.
Jan., 1896
Oct. , 1899
Nov., 1909
Sept. 1, 1910
A. & O. New York & Savannah. Oct. 1. 1888
&
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
Jan. 1, 1890
J. &
do
do
J. & J.
do
do
Jan., 1895
J. & J.
Hagerstown, Md.
Jan., 1895
J. & J. Balt., N. Mechanics' B'k J an., 18,95
J an., 1900
J. &
do
do
Jan ., 1902
J. & J.
do
do
....
do
do
1890
M. & N. ·N. Y., Northern Pacific.
tr·.% ~:I ~~
i~
M. & S. Phila., Fidelity I. T. Co.
A. 0.,
J.,
J.j
M._~__N·j
. d~·- ·.--··-~o
A. & O. Philadelphia, Penn. RR.
J. & J.
do
do
A. & o.
do
do
6 g. M:&N.
3
J. & J.
N.
Y.,·co>s·Agency.
May. i"," .i890
April 1, 1893
J an. 1, 1896
Oct. 1, 1901
Nov·.· 1: "ioo9
Jan. 14, 1882
··········
J. & P. Balt., Safe D eposit Co. June,1910
7
3
J a n . 10, 1882
"iori<io·ii:
6 g.
1881
7 g. M. & N.
do
1886
1896
g. J. & J. N.Y.,Bost.,Lond.,FI·ank
5 p. ct. yearly
Bo~~.'1,
2 to 5 J .. &.J.
2 to 7 J. & J.
do
July·
·i881
Worcester, Office.
112 J. & J ,
5
May 1, 1887
Various
do
do
A. & o. Bost., Globe Nat. Bank. April 1, l 893
5
5
:Feb. 1, 1895
F. &
do
do
Oct. 1, 1881
l¼ A. & 0 . Worceeiter, Office.
A. & 0. Bost., Globe Nat. Bank. April 1. 1894
5
:f: %~:
i
i·;
A.I
Y ears.
Gross Eani'gfl. N et Earn'gs.
1878-9 ... .............. ........ ... . .. ........ .. . $478,309
deficit,$8,010
l 879-80. .. .. .. .. .. .. . . .. .. ... ... . . . . .. .. . . .. .. . 547.446
145,42:l
1 880-81. ................. . . ; ....... . . . . . . . . . . .. 640,956
135,917
Road was sold iri foreclosure, Octoher, 1879, for $360,500, and reorganization is in progress. The rnheme of reorganization (which was
carried out) provided that a n ew corporation should be oreated, with a.
capital stock of $960,000 and $1,600,000 in thirty-year first mortgage
bonds. The holder of $2,000 of the old ::i>onds, together with the certificates for funded interest, received :a. $1,000 bond of the n ew com],')any,
and in addition six shares of stock. The plan adopted provided only for
the first mortgage bondholders, and out off income bonds, $600,000;
certificates of debt, $336,000; floating debt. $879,022, and the capital
Rtock of the old company, $:_:100,000. (V. 29, p . 351; V. 30, p. 84, 190;
v. 31, p. 58'7; v. 33, p. 6 8 6.)
·
Wilmington <I: Wel<l-On.-Road exte,nds from Wilmington to Weldon,
N. C., 163 miles; branch to Tarboro, 17 miles; total, 180 miles. Was leased
November, 1872, to Wilmington Columbia & Augusta Railroad for 90
years. The lessees made d efault Deoember, 1877, and the lease was surrendered April 13, 1878. For three years, 1879-81, 3 per cent yearly
dividends were paid. The earnings and expenses for five years have
been as follows :
·
Years.
Gross Earn'•gs. Net Earn•~s.
$156,908
176,277
175,693
221,698
1 !?80-81 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 50,91 6
303,833
-(V. 30, p.191; V. 31, p. 58'7; V. 33, p. 685.)
Wisoonsin Oentral.-Dec. 31, 1880, owned main line and branches
Stevens Point to Menasha, 64 miles; do. to Ashland, 186 miles; do. to
Portage City, 70 miles; branches. 7 miies; total owned, 327 miles.
Lea.sea., Milwaukee & Northern road, 124 miles, and, · Milwaukee to
Schwartzburg. 9 miles. Tot11l operated, 460 1llile~. Road finished in
1876. A foreclosure suit was begun in September, 1878, ana in J anuary,
1879, the road was taken possession of by the trustees for bondholders,
who still operate it. 'I'bere is a vi:iluable laml-grant of over 800,000
acres. The full planof reor,ganization (now practically accomplished) was
given in the CHRONICLE, V. 29, p. :303. 'l'his embraood the i&lue 0f a n ew
consolidated mortgage to Mver $400,000 5 per oent p~erre d bonds;
$3,800,000 first series bonds, bearing 2 per ceut for three year s from
July 1, 1880, and 5 per oent afterward; and $5,700,000 secwucl serieB
bonds, to draw interest if earned (but not cumulative), 2 p er cent for
three years, and 7 per cent thereafter. Interest on the second teries Is
payable J. and J ., but d ependent each time on the net earnings of th0
half year ending six montlis before. The stock of $11,500,000 remains,
~2,000,000 of it preferred and $9,500,000 common, and ia all depositoo
rn trust with Stewa.rt and Abbott, 'l'r ustees, to be voted on until all interes-;
is bein~ earned and paid on new bonds, and in the judgment of the trustees is likely to be earned. Certificates for new stock have been issued
to the old stockholders, which pass as a delivery on sales. Annual report,
V. 30, p. 599. For four years pa.st the earnings, &c., were as follows:
Passeng&
Freight (ton)
Gross
· Net
Years. Miles.
Mileage.
MileaO'e. · Eanungs.
Earnin~.
1876- 7 .. 449
5,889,367
22,984,236
$718,743
$108.964
1878 .... 449
5,661,975
23,225,583
733,819
122,863
1879 .... 455
6,385,319
30,920,076
851,090
193,0IJO
1880 .... 460
8,746,766
41,550,726
1,146,352
265,74,8
-(V. 30, p. 249, 598; V. 31. p. 196, 205, 431, 536; V. 32, p. 124.,,
207, 579, 634; v. 33, p. 491, 580.)
.
Wori:ester tt Naslma.-Sept. 30, 1880, owned frolll; Worcester to Nashua,
46 miles; leased, Nashua & Rochester. 48 nnles; total operated,
94 miles. Paid re!!lllar dividends of 10 per cent for some years:
before 1874-5. ln 1875-6 the leased line charges (Nashua&Rochester, 48
miles) first appear in the acoounts, and the Worcester & . Nashua paid
only 512 :,er cent dividends in that . year and nothing since. The rental
charge being plainly too heavy, an agi·eement was made in 1879 t.o
reduce the interest on bonds to 5 p er cent, and the dividends on Nashua
& Rochester stock to 3 per cent per annum. The interest on Worcest.er& Nashua bonds was also reduced to 5 per cent, and surplus earnings in
any year above requirements for interest and 3 per cent on each ·stook
are to be apportioned b btween the st-Ode of each company according tio
the relative number of shares. In addition U> above there are $37,000
5 per cent W. & N. bonds. Five years' operations w.ere as tollows:
Passenger
. Freight
Gr088
Net
Years. Miles,
Mileage.
Mileage.
Earn.in~. Earnin~.
1876-7.. .. 94
6,383.,990
· 10,063,658
$4.,97,239
$157,260
1877-8.... 94
5,703,761
9,961,740
4"73,240 . 168,35Jil.
1878- 9,. •. 94
6,168,871
12,123,444
473,081
165,495
1879- 80 .. 94
6,784,960
. 14,995,020
553,592
167,033
1~0-81 . . 94
7,229,999
16,133,062
....... .
_:(V, 27, p. 637; V. 28, p. 378; V. 29, p. 86,539; V. 33, p. 580.)
}~;ti:::::::::::::::::::::::::::::::::::::::::: $~~~:!f~
rn+tt):::::::::::::::::::::::::::::::::::::::: ggg:r+~
DECEMB&R,
CANAL S10CKS AND BONDS.
1681]
lix
Subscrlben will confer a great Cavor lty giving Immediate not-lee or any error dlRcovered In these Table8.
DESCRIPTION,
INTEREST OR DIVIDENDS.
Bornt~-Prinoi
- - - - - - - - - - - - - - - - - - - - 1· Miles Date Size, or Amount - - - - - - - - - - - - - - - - pa.l, When Dll.8.
For explanation of. colnmn headings, &c., seo notes of
of
Par
Outstandinu Rate per When Where Payable, and by Stook.8---Laet
on first page of. k..bles.
· Canal.Bonde Value.
"'
Cent. Payablo
Whom.
Dtvide:id.
---·1------t--- -•- - - - - - - -------!,- - - - - -
Albtrmarle & Chesapeake-Stock .••...•...•.........
Mortgage bonds ................................... .
Chesapeake
d:
Delaware-Stock .................... :.
1st mortgage (originally $2,800,000) ............. .
cf Olti<>-Stock .......................... .
Maryland loan, sinking fund ...................... .
Guaranteed sterling loan ...... . ................... .
Bunds having next preference . .............. . .... .
Dcla1care Division-Stock, (Conv.into L.C.&N.stck.)
1st mortgage (extended 20 years in 1878) ....... .
Delawar·e d: Hiidson-Stock ........ ................. .
1st mortgage, registered .......................... .
do
do
.......................... .
Debenture loan of 1894, coup and reg . ......... .
1st M., coup. & r eg., on Penn. Div. ($10,000,000)
Lehigh Ooal <1; N avigation-Stock...... . .... . ..... .
Loan, conv., c oup., gold (assumed L. & W. Coal Col
1st mortg a g e, registered ............... . . ... .. .... .
let mortga g e, r egis tered, railroad . .............. . .
Mort. loan, g. ($ 2,810,000 assumed by other co's.)
Loan, debenture mortgage ....................... .
:E.oan, d e uent u r e ... . . ... . . .. .................... . .. .
Consolidated mortga ge loa n ....... . .............. .
Chtsapeake
~fr~.;~~~~.~
.~~:~~.~~~'.
~~~~~~'..~~~~~~I
.2.~
.1~e~....
·M orris-Stock, consolidated ........... . . . ... . .... __
Preferred sto ck . . . ... . ............................. .
New mortgage (for $1,000,000) . ................. .
Boat loa n ... . .. . . . . ................ . ....... . .... . . .
Preferred stocl.. scrip dividend ........... . . . ..... .
Pennsyt11ani a-Stock ...................... . ......... .
9oneraJ mortg., interest ~ar'd by Penn. RR ... .
Schuylkill Na11igation-Stock, common .. . . . . . ..... .
Preferred stock .......................... . ........ .
lat m ortgage, extended .......................... ..
2d mortgage . ...................................... .
:Mortga~e bonds, coup. (payable by P. & R.) ..•...
~~t~~~::\~~~::::::::::::::::::::::::::::::::
Boat and c:i.r loan ................................. .
Susquehanna-Stock . .................•..............
Maryland loan, 2d mortgage ...................... .
Sui:1queharma Canal, common bonds, 4th mort ... .
do
pref. bonds, 3d mort . ....... .
pref., 3d. T. W. priority b'ds ..
do
do
bonds of 1872, 5th mort ..... .
Union-1st mortgage ............................... .
14
14
184.
184
184
184
60
60
148
148
148
339
1879
1856
1858
1869
1871
1874
1877
1869
1864
1867
1867
1872
1871
1872
ios
103
103
103
$....
$1,500,000
1,000
500,000
50
2,078,038
Vario's
1,993,750
25
8,229,59-i
500 &o.
2,000,000
500 &c.
4,375,000
500 &c.
1,699,500
50
1,633,350
1,000
800,000
100 20,000,000
1,000
3,500,000
1,000
6,481,000
1,000
4,856,000
lOOO&c.
5,000,000
50 11,204,2 5(1
500 &o.
771,000
V a r.
5 ,381,84.0
Var.
2,000,000
500 &c.
4, G53 ,0 00
Va r .
~12,381
41,5 50
V a 1-.
1,000
2,470.750
1,000
6 75,000
various.
245,000
100
1,025,000
100
1,175 ,000
1876
1865
1860 various.
337
50
337 1870
1,000
108
50
50
1,000
1,000
.. . .
1870 1,000
1863
1,000
1,000
1864
50
.. ..
1839
1,000
1859
500
'-14-'64
1841-4
500
1,000
1872
....
vi!:fo~.
.A.lbtrmarl-e cl: Ohtsapeake.-Securities pla ced ou New York St ock
Exchange lis t February, 1880. Prest., Marshall Parks, Norfolk, Va.
-1Sec V. 30, p. 24 8.)
.
·
Chesapeak e <t Delaware.-Delaware City to Chesapeake City, Md.
-(V. 30, p. 67 4.)
Ohesapecike cl: Ohio.-In a snitagainsttheeompanythe Oourt (January
1·881) d eclined to appoint a R eceiver, but ordered the oompany to r eport
at stated times its receipts and payments. (V. 28, p. 599; V. 3 2, p . 43.)
Delawar e D i msion.-Leased to Lehigh Coal & Naviga.tlon Co. at interest
on bonds a n d 4 per cent a year on stock, payable tiff February, 1eso, inoluaive, in scr ip, then till August, 1881, hall in scrip. (V. 28, p. -tl, 198.)
Delaware cf H1«uo,t.-This company, whioh is among the largest miners
and car riers of coal, leases the Alb. & Snaq. and Rensaelaor & Saratoga
railToads. Also endorses bonds of N. Y. & Canada RR. The income
aecount for 1880 showed net surplus receipts of. $1,351,422, against a
deficit of $630,64 3 in 1879. The annual 'report for 1880 was given in
v. 32, p. 230. Comparative statistics for four years:
,
x:NCOME ACCOUNT.
1877.
1878.
1879.
:Receipts$
$
$
Sales ot' coal ............... 4,638,872 5,229,266 5,764,477
(}anal tolls . ....... . ....... .
44,313
39,100
41,025
)liscellaneous profits .. ....
28,~
80,146
91,408
Ooal on hand (Deo. 31).. ..
341,036
672,785
535,264
Bailroad earnings in Penn.
248,275 · 398,219
595,663
Interest on investments . ..
294,312
341,78•1
326,635
Bala.nee ......... . .......... 1 ,147,322
59,591
63<',643
Total . ................. 6,743.040 6,818,887 - 7,985,118
Disbursements$
$
$
Coal Oll band Jan. 1..... ..
698,758
341,(,36
673,651
Mining coal. ....... . .. .. ... 2,077,370 2,264,228 3,003,893
Coal transportation, &o...
488,073
618,252
641,951
CanaHreig llt and expenses
75~,349
820,438
933,768
Railroad freight, &c.. .... .
422,746
528,532
83-0,427
Interest . . ...... . .. . ........ 1,157,352 1,3-10,956 1,234,449
Taxes and misoollaneous. 534,025
406,883
35-0,916
Loss on leased raill'oads...
605,367
498,562
316,059
.. . .. ....
Balance ....... . ............_-,,-,=-:-,:,....,,.,;-:::
···· · --·
Total . ..... . . . ....... .. . 6,743,040 6,818.887 7,985,118
1880. ·
$
7,210,524
42,810
93,516
727,283
561,948
312,243
I
.
7
..6.
f : ~:
--tr5
J. & J.
Q- J.
Q-J.
6
J. & J.
1:\ F. & A.
6
J. & J.
119 F. & A .
7
J. & J.
7
J. & J.
7
A. & 0.
7
M. & 8.
2
Q-M.
6 g . M. & 8 .
6
Q-J.
6
Q-F.
6 g. J. & D.
6
J. & D.
6
J. & D.
7
J. & D .
7
F. & A.
6
M . & 8.
2
F. & A.
5
F. & .A.
7
A. & O.
7
A. & 0.
7
F. & A.
i~Z:888
103,164
4,501,200
3,000,000
~;;10~.
I
July; iSSG
1 M
Sept. 1. 1917
Doo. 3, 1881
1894
1 884
1897
1897
Dec., 1881-'82
1882
JR.De 1, 1911.
1892
1883-' 84
Ang . 4, 1881
Aug . 4, 1881
April 1, 1906
Oot., 1885
Feb., 1889
6
6
6
6
7
J. & J.
J. & J.
M.&N.
.M:.&N.
M. &N.
Phlla., 2:ia. so·. -tth St.
Phlladelpll.ia, Office.
do
da
do
do
do
do
do
dedo
do
da
do
do
do
.Tttly:'i9.10
Aug. 1, 1880
Aug. 1, 1880
Ma..roh, 1897
1882 to 1007
1895
May, 188~
May, 1913
May, 1915
6·
J. ·;.,.. J , Phila.. a.iici' Baitunore.
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
M.&N. Philadelphia, Office.
.ran::
iss5,
,faB. 1 1918°
506.
~n6
I
PhilJ:elphia,
········
Bait., A. Bl'Own & Sons.
London.
Balt. A. Brown & Sons.
Phila., 303 Walnut st.
do
do
N. Y., Bk. of Commeroo.
do
do
do
do
New York, Office.
do
do
Phila delphia, OtHce.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Leh. Val. RR. Co., Phila.
do
do
do
do
do
do
do
do
6
8 :"J9,10Q
3,200,950
1,709,380
3,990,390
1,200,000
228,000
756,650
628,100
2 ,002,746
1 ,000,000
1,323,000
227,500
97,810
2 50,000
3,000,00(,
J. ·&,··J. N. Y., u;j_i()ii.Trn&t Co. Juiy·i'·;·i909·
6
6
6
7
Q:.:..M.
.i870..
1890
1885
Au~. 16, 188-I
.July 1, 1898
Deo. 10, 1881.
1884
1891
1
Jan., .1.894
Ja.n., 1894
Jan., 1902
May 1, 1883
6 8 , 320, 51 8, 5 89 ; V. 31, p. 44, 122, 259,357; V. 32, p. 98, lM, 230, .
526.)
uhigll Ooal ct NcwigaUon.- The Central Railroad of New Jersey
a ssumes (i n p u roha.se of equipment) $2,310,000 of the gold loan du&
1897, and loases t lte Lehigh & Susql!ehanna. R a ilroad. The Lehigh &
Wilkeeba.rre Coal Company assumes $500 000 of the g-old loan dne 1897,
and $771,000 (all) of the o,emvertlble gold loan due 18 94. There is alse
a 1st Greenwood mo r tgage of $140,000; due Oct. 1. 18 82. The Board
of Mana.gers' report for the y ear!! 1879 and 1880 has the followin,+r statement of receipts and disbursements:
RECIJ:Il'ff.
1 879.
1-880.
Railroads andNesqu ehoningTunnel........... . . $ 828,817 $1,157,UOO
Lehigh Canal....... .. ...... .. ............... . ... . .
5 1 ,930
108,666
Water Powers Lehi~h Canal........... . ........ . .
19,830
19,756
Delaware Division u.na.l . ...... . . . . .. ....... . ....
47,589
90,176
Net profit on Lehi~h Coal. .. . .. . .... .. . . . . . . . . . . .
190,622
185.626
Royalty on ooal mmed by 1068008 . . . • . . . • . . . . . . •
1,961
6 ,076
Revenue from rents.. . ...........................
. 33,943
33,728
Profit r ealized from sales of real estate. ...... . ..
5,700
..•.....
Misoolla.neoua rooeipts ... . ......... . ...... ,., ... .. .
3,393
7,737
Total ........... .. ..... . ........ . .............. $1,183,84.8 $1,809,676
DISBUR8El'4EN"1'8.
General and legal expenses.... . .. . .. . .......... .
$51,i33
$51,792
Rent and taxes Nesquehoning Valley Railroad. .
138,000
97,050
Rent aud taxes Delaware Diviaion Canal . . . . . . .
118,867
125,438
Tax0t1 ohargeable to canals........ . . .. . . . .. . .. . .
1,730
2,568
Taxes ollargeoble to ooeJ and ooa.l land8 . . . . . . . .
49,179
.f2,983
. .. ....... Taxes
on capital stook... .. ...... . ......... ...... .
14,131
22,725
,. 12,411
12,878
8,9-18,327 Ta...."<es on lanclE>.d prope1·ty and improvements .. .
Intere2t acoonnt . .. ... .. , . . . . . . . . . . . . . . . . . . . . . . . . .
003,9o8
932,231
$
535,264
3,171,369
$1 309,612 $1,287,.(JM
596,827 DefieU 1879, surplus 1880..... . ................
$125,763
$322,011
801,306
The President remarked: "The total revenue for 1880 from all souroea
766.939 was $I,609,67t>, ab.owing a gain of $425,827 over 1879. The dooreaeed
1,34:-J,973 exponaes, $21,94'7, u,(ldod to this, make B total gain of $-147,77:-, over
366,578 the previous year. Tho produ~tion or coal dt1ring tl:le year. was 554 937
14,642 tons of prcparecl sizes, agai nst 700,t7 61 ti-Ons in 1879,-a dooreaRC of 1.t4t>,1,35 1 ,429 824 tons. Th e profit was $185,62u, oompn,red with $190,622 1D the pre8,U48,3i7 vious year. We expended for coal i111provement aocount $7!}..i.916 during
the yoor, and l.'hru-ged off $53,867 for depreciation of same. we have eJ.o
GENER.AL BA.LANCE AT CLOSE OF EACH FISCAL YEAR.
oharged otr $55,317, being ten cents por ton on coa.l mined from tbe
.Assets$
$
$
$
()anal &c .... . ........ .-.... 6,339,210 6 ,339,210 6,339,210 6,339.210 property. Our mines have never boon in as promising a oondltion &8 at
Railroad and equipment .. 6,209,981 6,190,766 6,220,669 ti,414,759 the present moment. • • • The eeoond instalment of our extended
Real estate ........ . ....... 8,622,913 8,643,783 8,795,657 8,846,316 debenture loan ma.tu.rod on the 101.h of Deoember, a.nd wi.e promptt,:
Mines and fixtures ........ 2,679,961 2,679,077 2,699,590 2,713,957 paid. The amount outstanding is now $212.381, maturing one-half each
Coa.1-ya.ro, barges, &o.... .
897,287
877,784
720,487
746,791 in 188 Land 1 8:t. The 1loatlng debt, lees oash assets, wa.s tWOut $800,Lack. & Susquehanna RR. 1,021,153 1,022,293 1,022,293 1,022,938 000 at the olose of the year. Thia ino)udes the cost of Dela.ware Oivtsiea
New York & Canada RR .• 8,597,087 3,597,074 3,597,074 3,597,074 bonds purohaaed during the pa.at :rear by a.p-eement with that oompaIJT,
Cherry Val. &' Sharon RR.
314,871
aM,991
300,000
300,000 and ol whioh we now hold $~0ti 000, bearing 6 per oont i n ~ Tb&
Coal on hand Doo. 31......
341,036
672,785
5a5,264
727,28:J oompany also owns $740,000 of its seven per cent oonsollda.ted bond.fl
Adva.nooa to lea8ed lines..
385,374
439,020
368,778
6 08,894 and 18.900 shal"('.s of its own stook." (V. 28. p.198, 224,678; V. 80, p.
.
Advanees on ooal roya.ltiea
581,289
617,246
605,.326
613,181 190; v. 31, p. 122, ~4 i v. 32, p. 204, 231.)
Jforri.J.-Loo.Red April, 1871, to Lehigh Valley Railroad for 999
Miscellaneous 388ets ...... 4,438,512 4,295,445 4.,480,701 '"4,294,706
"J.'elecrraph, and car Co....
69,410
69,410
69,410
69,40!:l years. The l00800l! 8o88wne bonde &nd B(lrip. and pay l(!_j>er cent ~
i\uppllea on hand......... . 1,089,853
958 ,667
878,000
962,130 OJlllwn on pref. stook and 4 per oon:t on oonsol. stook. (V. 12, p. 71-4.")
Cash and bills rooeivable.. l,~,694 2,314,2&1 8,140,116 8,785,656
P8M18]1liPani4.-Worked in interest of Pennsylvania RaJ.lro&d, whicll.
P1·ofit and 1688............
199,660
687,185 1,208,726
. ..... .. gnarant,ooe interest on bonds. An old mort. of $90,00018 due bl 1887
, Total aasets. _.......••. 88,714,292 39,ol0,006 40,981,801 41,0il,ol4 .Earnings in •so, $368,769; net. $190,943; interest, taxes, &o., $1~,C><JS
SchuylJoUJ, Na-i,igat.o,..-Leaaed from Juno 1, 1870,'- to Philadelphia &
.LW>ilitia$
$
$
$
Btook: .....•...........•... 20,000,000 20,000,000 20,000,000 20,000,000 Reading for 009 ;rears. Rental rooei'ffld in 187~ $6a6,?86. The
Bonds ...................... 17,010.:x>O 18,338,00019,837,00019,837,000 dividend of Au.gust, 1879, was l)&,lttble in Ph11adelphla & Rood1ng Bal!
Misool.lanoous oooountlt . .. 1,703,792 1,277,()(X} 1,144,801 1,008,827 .r oad ecrlp. In 1.8ti0 the les9008 defaulted on the rental and an
Pl•oilt &nd loss.............
. .... - - .
. . . .. . . .
. . .. . . . •
200,786 wwt made to soale down the i n ~ on some bond&, and
M.
Total liabllitiee . .•.••.. 88,714,2!12 89.610,006 40,981,801-il,04:.,014 aitlons made by the Ree61vers of the Philoo-0lphia & Rooding .
See v. 82, P;- 184., (V. 22, p. 493: v. 26, p. 4_18; v. so.. p. 431; v. 81,.
~ e s e misoollimeou.s &Mets molude ' :,fl :ronowin!l': Bo6ton Ha.rUoNl & p. 880, Ml; V. 82, p. 17, UH.)
·
Erle 1:,4.00 bolldt1, $786,727; Jetfen1on t<R. bonda (108), $86, 7l~~ba.ny
8NstlMMU1mM1.-Leaaed and overated lly Philadelphia & Reading: J1all.
& Suequeaanna oowt01& (275), $ :275,000; DelawaNI & 'lln4eou
Oo.,
J.891 bonds (963), $96i,713 i. 8Undry assets, $376,881. ~ks as fol - road for int6l'e8$ on boud8 and liailf of net oornin~ Dee. Bl, 18&0, t11iei-lOwa~ s,~40 11barea Albany $ Sqequehanna, $85(.000; e;.u1 shares ftoating debt WM $186,904, ~ '158,000 MCrue4 ~
u .....-Mook, $2,907.s:50
R6D86elaei: & $ara.ooga1 f89~,1.37 aWl~ awe~, $1S1,4.7ir. (V. so, p.
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~DI."
~,.G.,:i--
MISCELLANEOUS STOOKS AND BONDS.
h
(VOL. XXXIII.
Sobscrlben wUI eonCer a great Ca,ror by glvtn~ immediate notice of any error discovered In these Tables.
DESCRIPTION.
For ei::plana.tion of oolnmn headil1gs, &c., 11ee notes
first page of tablet!.
OD
INTEREST OR DIVIDENDS.
Bond.s-Prin<il
Date Size, or
Amount ______________
.=..;:..___ _ pal,Wben Due.
of
par ontstanding. Rate per When Where Payable, and by Stock..'1-Last
Bonds Value.
Cent. Pay'ble
Whom.
Dividend.
A.da1ns E~ress-Stook .. ....... . .... .. ...... . . . . . . . . . . . . . . . . . ...
.American Ooal (Ma,-vland)-Stook .... . .. . . . . . . . .. . . .. . . . . . . • ..
American .District Telegraph-Stock .. .. . .. . .... .. ... . . . . . . . , •...
A mericcu, Exprus-Stock. . . . . . . . . . . . . . . . . . . . . . • . . • . . . . . . . . . . . .. .
Boston .Land-Stock........ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .
Boston Water Power--Stock. .. .. . ... . . . ... . .. ......... .. .. . . . . . . .
Mort:~ge bonds ·(for $2,800,000) .. . ... . .... .. . ... . . . . . .... 1874
. . ..
Sterling bonds (amking fl.md one.fifth of land sales) . ... . 1 8 7 3
Mortgage bonds, gold, sixes (for $2,500.000) ... . .. . . . .. . . 1874
Union RR., 1st mort., end. (sink. :fund, rentaon $220,163) ... .
do
2dM., g., end., (a. f. ~round rents on$144,800) ... .
fJentral New Jer sey Land-Stock . ... . ... .. . .. . . .... . . . . . . .. . . .. .
Cowrad-0 Ooal cf: Iron-Stock...... .. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1st consol. mortgage, gold .. . . ........... . ... ... . . . . . . . . .. 1880
Canto. Improvement-Stock.... . .. .. . . ... .... ... . .. . .. . . .. . .
(]omolidation Ooal of M arylan d-Stock . .... ... . .... .. . . ...
. ...
let mortgage (convertible) . .... . .. .. ........ . . ... . . ..... .. ! 1864
1st mortgage, consolidated, convertible. . . . . . . . . . . . . . . . . . 1872
Cumberland Ooal ti lron-Stock. . .. .. . .. . . . . . ... . . . . . . . . . .. . . . .
(htmberla,na cf: Elk Lick Ooal-Stook . . . . . . . . . . . . . . . . . . . . . . . . . .. .
Dunleith cf: Dnbuque Bt·idge--Bondil, &inking fund . . . . .... . 1868
I010a RR. Land Oo.-Btock... .. ... .. .. . . . . . .. . . . . . . . . . . . . . . . .. .
Mariposa Land & Mining-Stock . ... . .. . . ... .. ... . .... . ... . . .. .
PrefeITed stock.... . .. ... . . .. . .. . . . . ..... .. .. . ...... .. . .. . . 1·8·1· ·5
Mort~age bonds (ior $500,000) .. . ..... . .. . : . . ... . ....... .
Jf.aryut1ia vocu-Btook . . . . .... .. .. . .. . .. .. . . . . . . . . .. . . . . .. . ..
Bonds. .. . ... . .. .. . . .... . . .. . .. .. . . .. ... .. .. .. . ..... . . . ... ..
.. ..
....
i2z~~
G~;~~~~~::::::::: ::::::::·_-_-_-_-_-_-:.· .·.·_-.:: ::::
.Jlul-ual Union Telegraph-St ock . . . . .. .... . .. . . . .. . . ... . . ... .
1st mortgiwe bonds, golJ. •. . . . . . . . . . . . ...•.. . . . . . . . . . . . . . iss°i
Jitw ~tral Ooal-8tock. .. . • • •. . . • . . . . .• . . . • •• . . . . . . . . . . . . . • ••.
Neu, York & Strait81Jilte Ooal d: I1·ou-Stock..... .. ... .. . . . . .
Netl) York & Texas LandJJ Limited)-Btock .... . . .... ... .. ...
Land scrip receivable 75 per cent for lands. ..... ... ... . .
I>e-bentures, re,..,"1.ster ed . .. . ..... .. . ... . .... . . .. . ... . .. . . ... .
. . ..
. •• .
. .. .
....
$100 $12,000,000
2
25
1,500,000
212
100
2,0 i 0,000
·--100 18,000,000
3
10
800,000
io·a.
4,720,815
50
1,000
2,148 ,000
7
100
717,875
...
£200
575,000
6 g.
1 ,000
1,073,000
6 g.
500 &c.
783,000
6
500 &c.
600,000
6 ~100
2,400,000 7 scrip.
100 10,000,000
..
6
.g.
1,000
3,500,000
100 10,250,000
212
1 ,000
387,000
7
1,000
752,000
6
100
500,000
6
1,000,000
100
1,000
400,000
100
7,620,000
1
100 10,000,000
....
100
5,000,000
....
1,000
.... .
100
4,400,000
11ii
1,000
161,000
7
lOU
5,000,000
....
100
2,500,000
....
.... .
10,000.000
..6.g.
1,000
5,000,000
100
5,000,000
2
100
1
1,500,000
50
1 ,500,000
.....
....
6,000,000
.... .
322,515
7·
--
··s·
m
Q-M. N. Y., Company's Office. Dec. 1. 1881
New York, Office.
Sept. 10, 1877
M.& 8.
J.
.&. J.
.. ...
J. .&.D.
.&. J.
N. Y., co·Jii·pany;s Office. Jan:.
a: .i882
·-------
Boston: Office•
do
Nov. 12, 1872
June,1884
·Brow·n
1·;
Exoh:
. .... . . . ...
do
do
d.,
do
New York, Offloo.
Jan., 1885
Jan. 1, 1897
Oct. 15, 187 5
London:
·s. & Co. Jan:. ·i9o4.
J.
J. & J. New York or London. Jan. 1, 1904
Baltimore.
J. & J.
....... .
London.
M.&N.
1900
. . ........ .. .
. ...
Jan., 1875
F .. &A. N.Y.,Am..
Nat. Bk.
.. .. ... .
N.Y., Co.'s Office, 71 B'y Jan. 27, 1881
J ..&.. J.
J. & J.
A. & 0 .
. .......
M_-&·N. N. Y., at· iii:eent. R.R. Nov., 1893
Boston, Treas. Office. Nov. ~. 1881
Q.-F.
--··
J.
.&.
.. ...
J.
---·
. ...
. ...
....
..... ... ..
. ........
N ew York.
Jan:· ·i,..i886
Jan. 1, 1876
Nov. 1, 1906
----- --- --
........ ..
--------........
...·
........ . ..
....
New··forli: .
New York, Office.
......
........ ... ..
....
M'nthly
. ....
· -- ·
New York.
-· ··· ·· ·
..iiiii"
Jan. 15,1881
April, 1880
......... ...
--· ·-·· · ··
. .. .... .
···1900
··--·
Colorado Coal & Iron Co. bonds. TbeRe are all to b.e m erged in the
Adams Express.-No reports; no information. (V. 31, p. 121.)
consolidated mortgage bonds. The full report was in the CHRONICLE of
American Ooal.- There are mortgage bonds for $200,000. The annual April 2, 1881. Presinent, W. J ·. Palmer; V1ce•President. C. B. Lamborn.
report for 1880 gives the following infom1ation :
- (Vol. 30, p. 357, 675; V. 32, p. 3 66.)
Received for coal sold and delivered, earnings of canal boats,
Oonsolidation Ooal.-The annual report for 1880 was published in the
rents and interest.· · ····· · · · ··· · ·· · ·· · · ·· ·· · ·· · · ··· · · ···· · ··· ·· · $46 5 ,931 CHRONICLE of March 6, 18_8 1, and contained the following:
Coal on hand, value. ... .. . . ... . ... . ... . . ... . .. . .... ......... .. ....
24,712
____ The gross receipts from mines railroads, r ents, &c., (includ$490,643
ing value of stock of coal on hand) were ........ .. .......... . $2,265,639
Total expen ses of every- kind (exclusive of inte rest and sinkCanal and railroad transportation . ..... . . . ... ... ... . $287,944
ing fund, but including steel rails and all extraordinary
Mining, supelintendence, labor, &o. : .. . ... ... .... . . 115,630
outl~s} .. . .. . . . . . •. . . . . . . . . . . . .. . . . . . . .. . . . . . . .. . . . . . . . . . . . . . . 1,771 515
8
~ll~fy~~~.~~~~: .~~~~.~~~~. ~~~~~~ .~.~ . ~~~: 28,876
\
Net r eceipts . . . ... ... . .. ... . ... ..... . .... .. . .. . . . . .. . ... ..... . $494,123
Taxes... .. .. . ....... . ... .. .. . . . . . . . . . . . . . . . . . . . . . . . . . .
6,025
Net earnings after deducting interest on bonded debt for
11,729
:Bond and scrip interest to March 1, 1880.. .. .. . . . . .
1880 and sinking fund belonging to 1880, amounting to
l!alaries, office and contingent expen&es. ... . ... . .. . .
13,219
Legal expenses. .. . ... ........ . ........ . . .. ..... . .. . . .
161- 463,587
275,708
$218,414 .. . ... .. .....•• . ............ ···· · ·········· · ·· · ·······
- - - - -Consolidated mortgage bonds are held to retire old bonds. Guarantooe
Gains, 1880 . . . . .... .. ... . . .. . .. . . . . .. .... . . . . . . ... . . ... . ... .. . $27,056 also bonds of the Cumberland & Pennsylvania, and agsumes $135,000 of
lhtrplus, December 31, 1879 ... ... . . ... ....... . ... . . . $207,843
the Union Mining Company's bonds. (V. 28, p. 301; V. 30, p. 247 .; V.
Add gains, 1879.. . . .... . .......... . . . .. ... . . .... .. . ..
27,056- 208,002 32, p. 287,)
Depreciation on boats, &o . . .. . . .....•. . .. . . . . . ..•. .. ... . . . . . . . ..
9,542
---Oumberlattd t1; Elk Lick Ooal.-Admitted t-0 Stock List January, 1880.
Present surplus .. . .. . .. .. ... . . .. . ... . ... ........ . . .. .. . . .. . . . . $225,357 A coal company of Somerset County, Pa. Bonded debt outstanding
only- $17,000; no floating debt. Alex. Shaw, President, Baltimore.
Total assets December 31, 1880-Lands and real estate at mines,
$1 542,365; real estate at J ersey City, $100,710; mine im;vrovements,
Iowa Railroad Larnl.-The total land owned was 4.51.609 acres
,15,019; cash, $35,414; wharf improvem ent at Jersey City, $6,315; Ma1·ch 31, 1880.
rsonal property at mines, $31,219; per sonal property at wharves,
,6Q7j bills receivable, $16,323; accouuts , $107,177; canal boats ,
.Mariposa Land · cf: ·. Mining.-The suit of Jos. A. :ponahoe for foreclo
7 uuu; value of coal on hand, $24,712; office furniture, $513; Chesa·
peake & Ohio Canal bonds, $8,000; C. & P. Railroad stock, $1,000; G. C. sure of the mortg~e was before tbe courts Septem'ber, 1880. (V. 31, P.•
~ c. Railroad stock, $160,000; total, $2,069,377. Direotors: James A. 248~
Ale.xand<::~i. John P. Moore, Sidney Wintringham, Gardiner Lloyd, Ben•
Jamin Wiuiamson, Richard S. Grant, William J". Boothe, A. J. Akin,
Maryland Ooal.- V. 24, p. 226; V. 26, p. 95.
1:>avid Stewart. Gardiner P . Lloy d, Presiden t ; George Sherman, Secre•
tary aud Treasurer. (V. 30, p. 221; V. 32, p. 287.)
M aryland U nion Ooal.-Stock placed on N. Y. Stock Exohange, April.
1880. See statement v. 30, p. 466. President, John White,New York:
Boston Land.-The capit al stock of 80,000 sha res of t'1c par value
c,f $10 ca.ch, or $800,000 . Assets of the comp any January 1, 1881:
.Jlittual Union Tefcg1·aph.-Orga.n ized under New York State laws
ea.sh, $128,895; land in East Boston and R eve1c, a bout 700 acres, un• Has a line of six wires from Boston, Mass., to Waahin~on, D . 0. In
incumbercd, estimated at $1,829,520. An abstract of t he annual r eport 1881 lines are to be extended to Western cities via Buffalo, Pittsb1ug,
in v. 32, p. 92, refers to the financial ~licy. (V. 29, p. 510,537; V. Louisville, &c ., &c., and :¼!5,000,000 bonds, carrying $5,000,000 of st-OCk
30, p. 90, 117; v. 32, p . 92.)
gratis, w ere issu ed in May. See CHRONICLE April 30, 1881, fourth pa.ge
of advertisements. (V . 33, p. 201,255, 622.)
Boston Water Power.-The sha.rse have strictly no par value. There
are 85,833 shares called" pro:prietary" shares, or the number into which
New Central Coal (Md.).-The annual_report for 1879 has the follow.
"t4e property of the company 1s divided, the assets consisting of lands ing:
mi and near "Back Bay," in Boston. Annual report, with statement of
STATEMENT
OF PROFITS FOR THE TEAR ENDING DECEMBER 31, 18'80.
:financial condit·on, &P-. in V. 32, p. 499. (V. 30, p . 464; V. 31, p. 152,
December 31, 1880, bale.nee to credit of coal account . . ....... $1,478,3G4
3.2!V; V. 3Z. p. 182; V 33, p.,23, 99.)
December 31, 1880. coal on hand; at cost . .... . ... . $53,019
34,080
Canton Improvem.ent.-The apnu3:l report for the year ending Mny 31, Less freights and taxes due........ . .......... ... ... 18,9381881, is in V. 33, p. 99. A br10f history of the company was in V. 30,
17. Of the $2,500,000 mortgage, $600,000 is reserved to pay ster$1,512,386
loan. The company owns the stock of the Union Railroad Company Deduct amount paid for raih'oad and canal freights and tolls,
~an goQ.rantees itR bonds. (V. 27, p. 14; V. 29, p. 65; V. 30, p. 117;
mining, office and shipping expenses, salaries and interest.. 1.421,868
v. 31, p. 43; v. 33, p . 99.)
H
Net earnings for the year.. . ...... . ....... . ..... . ... . .......
. $00,517
Ventral New Jersey Land Improvement.-The r eport says t hat during Balance to credit of profit and loss December 31, 1879. .... ... $214,515
&he last six months of 1879 an a ctive demand sprang up for tho comDeduct-
pany's lands. A further r eduction of $100,900 ~as m a de in the capital Amounts charged against profit and loss during '80 $15,494
roo.ucing it to $2,400,000. Of this amotmt outstanding tbe compa,n y
Add$199,020
atill owns $25,500, h eld for the r ed emption of scrip a s presented. The Net earnings for 1879 .. • .. . . .. . . .•. ... . ... . . .. . . .. . . . . . .. •. .. . . .
90,517
clividend scrip has been r educed from $106,984 t o $43,296, and as it is
'desired to extinguish t his scrip as speedily as possible, the r equest is
made to holders of the scrip that they will bring tho same in for conver- Balance to credit of profit and loss December 31, 1880....... $289,537
alon into stock. The statem ent for two years cno..in g December Sl, 1879,
Officers for 1881 : Wm. s. Jacques, President; E. J. sterling, Vioo
llhows total receipts in 1878 of $163,658 and in 1879 of $120,957. The President; Philo c. Calhoun, Treasurer; Geo. H. Adams, Secretary. (V
baiance sheet December 31, 1879 gave the following values of lands
n
·owned: Newark lands, $390,584 ; Bergen, $617,622 ; Elizabeth, $169,- 30, P, 220; V. 32 , P• 3 l ,..)
150; Westfield, $26,307; F anwood, $479,633; Plainfield, $347,976;
N,e•fl ,,.ork _,,_ Stra·:J~- ~ue Ooal _,,_ Tron.-Hn" $ 300 ,000 bonds. Too stock
Dunelleu, $345,398; Somerville, $77,861; Clinton, $4,780; Bloom..., .L•
..,
~t-b"v•
u:.L·,
...,
e26,345; P hillip sb urg, $861; ~otal, $2,486,522. (V.
P,:.
_8'.~~ :~~ed:~ . ~e~ :Y~rk ~oard April, 1880. ~V. 30, p. 409.)
.
.
.
•
• •· ,., . .
, = ;
,;.,
· • . ,. ,, i .;,·i :,
,.···· :.· .;.,~' •.\','.'.
· $.etQ.l'.'9rk ~T~~t 1',('i.ti4-:-Th:I.s company owns the lands granted to the
{l(JbU>r1i.ilo Q'o~r :.1 I r otf -L:-Tb~-a c~n:ipariy,iwith 1):e-t1rttfU;arler e:-a. €ol~adt, , Iil~rtj:/itiqn~i,an<:l,,J;Jb.11.~ ¢.1 ~~ '.<h-ea"!i.'.N(?rt~er)). i;_aill'.Ql¢'8 1 a~ou.t .5.~0)000;:
8prtngs,··Co1.,·vvas ·a• c'o nsolfd'aitfon 1:>eo. 13, ·1-879',. o~ the centra'l tOolor&do 1 ~ re.a,, ~h1<1~ , ~ ~~~ -f n s~tt~~µie~~ ·,¾> t~e '~olde,f-8 of, -001:1ver!ible ~d\_
Improvement Go., the Colorado Goal & Steel W91~.~~n!\ t:\le:· S<tu.tll~ ses op.d I_l,lort~a~e :'?.3~'18:. ; E~tl
- ~~l~~r ot..iii t 1 ffi()~, e~nmtnd;~tteo~a~f!~..,
1
Cdlora.d.o Ooal & Iron Co. The company is controlled by Denver & Rio ·c ohvert1ble bond ~nu \llil'lai coupons, or pure W:Jmg,.,,.,
e ,:oo,.,.. """'-+.
Grande Railroad parties. Stock is non•assesaable. On Dec.31.1880, eat es, of t h e International and Houston & Gre~t Northern railroadll
1.he debt consisted of $1,225,000 consolidated mor t. bonds, $1,500,000 rece.ives $300 stock and $1,200 land scrip of this Co. (V. 30, p. 519;
Ceoti:al Colocado Improvement Co. bonds, and $104,300 Southern V. 31, p. 511.)
11tock by canceling a thousand shares r ecer'i1~d m exchange for lands,
127:)
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
~-?•. 1-f:.,
DBCEMBER,
1881.]
MISCELLANEOUS STOCKS AND BONDS.
lxi
Subffrlben will conCer a great CaT•r by ,:tvtng Immediate notice oC any error dlseoTered In these Tables.
DESCRIPTION.
· INTEREST OR DIVIDENDS.
Bo11.d6-Prinoi•
Date Size, or
Amount
pal,When Due
For explanation ~f column headings, &c., see notes on first of
Par
Outstanding Rate per When Where Payable, and by St~71;B-Laat
page of tables.
Bonds Value.
Cent. Payable
Wllom.
D1V1dend.
Northweste1·n Telegraph-Stock ..•..•••.••.........•. .......
Bonds, interest guaranteed ......•.....................
Oregon Railway ti Na'Digation-Stock ...•.... .............•.
~ortgage bonds, gold . ................... .. .... . ...........
<Jre,gon ti Transcontinental-Stoc.k (for $50,000,000) ......
Pacific Mail Steamsh:ip-Stook .. ..... , .... ..................
Pennsylvania Anthracite Goal-Stock ......................
--··
---·
·ioo
---·
....
1,000
100
100
is79
---1872
1st mortgage (east side) bonds on 1,053 acres ............
1st mortgage (west side) on 400 acres and 550 leased .... 1872
0
pr!~ti'r~~~e ~~~~-~~::: ::::::::: :::·: ::::::::::::::::::
Producers' Consol-idateit La1id ti Petroleum-Stock ...... . .
PuUman Palace Oar-Stock . . ........ .... . ... ...............
Bonds, 3d series ...... .............. . .. ... . . : .. ....... ......
Bonds, 4th series ...........................................
Bonds, debenture .. .............. .. . . ......................
B_ond~, aterJ+n/$' debenture. convertible till April, 1881 ..
Qincksilver Mining-Common stock ........................
Preferred 7 per oent stock, not cumulative ........... . ...
Railroad Equtment Oo.-Stock .............. ... ...... .. ....
Coupon bon s. (See remarks below.) .....................
8t. Louis Bridge & Tunnel RR.-Bridge stock, common .....
1st preferred stock, guar ..................................
·2d preferred stock, gua.r . ....... . ....................... . .
1st mortgage, new, sinkingfund ... . ......................
T:mnel FR. of St. Louis, stock, guar.... . ..... . .. . ........
~oi,thern & Atlantic Tel~rap~Guaranteed stock .........
Spring Mountain Goal- tock, guar. 7 per ct. by L. V .....
/Jterling Iron ti Railway.-Stook ..........•......••.. . ......
Mortgage bonds, ~eries "A"·.-··;;·;;· ···· ··· ···· ········· ·
Mortgag e bonds, moo me, sen es B .. .. ... ...•. ........ ..
Plain income bonds ..........•.............................
IJutro '.l'ttnnt:l--Stock ...................... .. ... .. ...........
Mortgage bonds (for $2,000,000) ........... ..... ....... .. .
tlniteit States Express-Stock . ... ............................
....
1861
....
.....
1872
1872
1878
1875
....
....
vai•s.
....
......
i879
......
---....
i864
1880
1876
i879
.....
$2,500,000
1,180,000
12,000,000
5,911,000
· 15,760,000
20,000,000
2,000,000
1,000,000
500,000
5,000,000
429,500
2,500.000
10,023,800
445,000
820.000
908,000
52.500
5,708,700
4,291,300
500,000
$50
1:000
1,000
50
---100
100
1,000
1,000
1,000
.£100
100
100
100
1,000
100
100
100
1,000
(1)
2,500,000
2,490,000
3,000,000
5,000,000
1,250,000
948,000
25
1 ,500,000
50
2,300,000
50
60,000
1.000
418,000
500 &o.
495,575
1,000
10 18,920,000
600,000
·ioo 7,000,000
0
0
'
2
J. & J. N. Y.,West. Un. Tel. Co. Jan. 1, 1882
7 g. J. & J.
do
do
Jan. 1, 1904
2
Q.--F.
New York.
Nov. 1, 1881·
6 g. J. & J. N.Y., Farm. L. & Tr. Co. July 1, 1909
..:f
7
7
4
7
6
2
8
8
7
7 g.
2 14
914
212
6
..zig
112
7 g.
3
2 12
312
.....
7
7
I ---·
6
1
....
. .............
·····--·--
J. .&.D.
J. &D.
Q.-F.
F. & A.
Q.-J.
Q.-F.
Q.-F.
Q.-F.
A. & 0.
A. &O .
.iili' Naiional Bk.
N. Y., 1ffBroadway.
. ...
.....
·- --
N. Y.,
do
do
New York, Offloe.
N. Y., Farm L. & T. Co.
do
do
d'>
do
do
do
Lond'n, J.S.Morgan&Co
. ..........
···-·-----
Q.-F. N, Y., Clark, Post & M.
Quar'ly
do
do
.& .
Sept.:· iS.68
i:.
June·
"is92
June 1, 1892
Nov.1, 1881
Aug. 1, 1881
1 877
Nov. 15, 1881
Feb. 15, 1887
Aug. 15, 1892
Oct. 15, 1888
April 1, 1885
Aug. 17, 1881
Aug. 17, 1881
Nov., 1881
3 mos. to 5 yrs.
.T.
J.
J. & J.
A. & 0 .
J. & J.
A. & O.
J. &D.
N. Y.,
i-.i. & eo .
do
do
New York and London.
N. Y., Drexel, M. & Co.
N.Y., West. Union Tel.
N. Y., Company's Office.
i>i-exei;
Juiy · ·i,· ·iss2
July 1, 1 884
April 1, 1928
J an. l, 1884
Oct., 1881
Deo. 10, 1881
A. ·&-·o .
Feb.
New·1:01:1r.
do
Aprii · ·isss
April 1, 1894
Oct. 1 , 1 896 .
----
New York, Offloe.
·iondori:
Jan." 'i,' "i891
Nov. 15, 1881
.... .
......
Q.-F.
...........
i;
Northwestern Telegraph.-This company owns 8,000 miles of wire and Op('lrating expenses, including legal expenses, general taxes
and ins urance, maintenance of upholstery and bedding
is leased to Western Union for 99 years, with guaranteed dividends of
4 per oent at first, rising one-eighth per cent a. year to 6 in 1897 and
(inoluding leased lines), and r ebuild!ng association oars .... $1,076,409
Rental of leased lines.... . ....................... . ..... . .. .. ...
264,000
afterward. The bond interest is guaranteed. (V. 33, p. 358.)
Coupon interest on bonds..... . ............ . ... ...... .. . . . .. . . .
191,867
Dividends
on
capital
stock........
.
.
.
.
.
.
.
.
..
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
..
482,166
Oregon Railu;ay & Navigation.-Gross earnings year endin/? June 30,
1880, $3,730,2.!~; net earnings, $1,666,861. Alll issue of $6,000,000
Total. .......... .. ..... . ... . .. .. . ....... . .................... $2,014,442
new stock waa 'voted on Oct. 20, 1880, to be sold at par to the stockholders at dates in 1881, with a 10 per oent scrip dividend paid to the Surpllli! for the year. ... . ............... . . . . . . . . . . . . . . . . . . . . . . . . $981,054
For five years past, endin~ July 31, a comparative exhibit of t he r eceipts,
f!'Mlckholders when their last instalment was called for. A further
issue of $6,000,000 stook is to be m::tde to stockholders of D ecember expenses, profits and surplus applicable to dividends, shows as follows:
Interest,
28, 1881, d eliverable February 1, June 1 and September 1, 1 882.
Revenue. Expenses.
Profits.
rentals , &c.
Surplus.
Tbe company has lines in progress whioh will make 696 miles of
main and branches when completed. The managers purchased in 1876-7 . . .. $ 2,570,639 $985,072 $1,585,567 $193,579 $1,091,988
878,5781,282,252
451,866
830,386
February and March, 1881, a controlling interest in the common and 1877-8 . ... 2,166,830
958,465
1,238,269
429,890
808,37~
preferred stock of the Northern P acific Railroad with oash furnished by 1878- 9 .. . . 2,196,734
955,047
1,680,421
432,479
1,247,442
a syndicate, and the control of both companiea was transferred to the 1879-80 .. 2,635 ,468
Oregon & Trans-continental. ff. 30, p. 289,409; V. 31, p. 196, 32:J, 1880- l.... 2,995,496 1 ,076,409
1,919,.087
455,867
1,460,220
313,429,511;V.32,p 156,232,265,313,323,336,421,501,553,687; -(V. 31, p. 327, 359, 383; V. 32, p. 44, 336, 396, 579; V. 33, p.
Y . 33, p. 48,177, 439, 588.J
302J
.
Quicksilver Mining.-Bonds paid oft" July, 1879. The preferred stock
Ore,gon & Transcontinentat.-This company was organized under the
:aws of Oreg on on June 27, 188 1, and received from the "Villard Pool" is entitled to 7 per cent p er annum, not cumulative, and any surplus
an aesignrneLt of the stock of the Northern Pacific Railroad purchased goes to the oommon and preferred equally. (V. 31, p. 124; v. 32, p.
by it. '.rhe company's object is to hold the stooks of the Oregon Railway 336; v. 33, p. 178.)
Railroad Equipment Co.-This company leases equipment to railroads
& Navigation Co. and the Northern Pacific, and to construct connecting
roads. The total authorized capital is $ 50,000,000, of which $30,000,- on the "Car Trust" plan, advancing cash for the rolling stock and tak000 has been subscribed for at par, and $15,760,000 is pain; the balance ing obligations of the railroad companies running from 3 to 60 months,
is called as follows: Feb. 1, 1882, $6,000,000; April 1, $6.000,000; which cover the princfpal a.nd interest of the special seri~ of bonds
May 1, $2,240,000. H. Villard, President, 20 Nassau St., N. Y. (V. 33, issued by the Equipment Co. running for similar periods. The title
remains in the lessor till last payment is made, and then vests in the,
J). 12, 48, 256.)
purchasing railroad. In the m eantime the title is held in trust l>y the
Pacific Mail Steamship.-In February, 1880, an 8.c,"Teement was re- Fidelity Trust & Safe Deposit Co. in Philadelp_hia, trustee for bond~
port.ad between this company and the Pacific Railroads, by which the holders.
railroad ·c ompany is to give to t he steamship company a monthly subsidy
St . Louis Bridgt: ti Tunnel Railroad.-The railroad and tunnel wer&
of $110,000, as against $60,000 formerly. In November, 1881, it was sold under the mort. of lo73, July 1, 1878 , for $450.000. Foreclosure
terminated. On April 30, 1881, the company's liabilities were $1,761,- under the 1st and 2d mortgages on the bridge was made Deo. 20, 1878.
598, whioh included loans due to Panama RR. Co .. $1,400,000, demand On July 1, L88 1, the bridge and Tunnel Railroad were leased to the Mo~
notes, $90,847, and traffic account, $77,301. Report for 1880-81, in V. Pacific aJ).d Wabash St. Louis & Pac.i1lc for the term of their oorpora,te
3~p. 575. .
·
.
charters. Of the stock $ 2,490,000 is 7 p er cent 1st preferred, which
··.rhe following is a statement of the earnings and expenses for the is p;naranteed 5 p er cent till January, 1885, and then 6 per oent,
years ending April 30, 1881 and 1880:
$3,000,000 7 per cent 2d prefe1Te.1, which is guaranteed 3 per oent per
annum, the first semi-annual paym~nt being July 1, 1 884, and $2,500,Earnings.
1880-81.
1879-80. 000 common. Tile common stock was h eld by the London ReorganiAtlantic line ............... . ................ . $745,344
$600,915 zation Committee., and under the lease w as transferred to Mercantile
1,950,597
1,531,677 Trust Company of N. Y. with power to v ote thereon. The bridge and
80,887
201,978 tunnel were worked together and the net earnin~s divided in the prop973,472
930,657 ortion of five-sixths to the bridge and one-sixtn to the tunnel up to
.Auatralio.n line . ...... . ......... . .... . . . ..... .
307,073
321,215 $450,000 and all over that amount nine-tenths to bridae and one-tenth
Australian and .New Zealand subsidies ..... .
203,550
176,411 to tunnel. (V. 29, p. 196,; V. 30, p. 623; V. 32, p. 659; V. 33, p. 22 ,.
<Jentra.l American and Mexican subsidies ..
99,416
118,366 125, 224.)
British Columbia. subsidy .... .............. .
4,222
38,000
Spring M01mtain Ooal Co.-TWs is guara.nteed 7 per cent per year till
Hawaiian Government subsidy ............ .
3,000
6,500 1885 by Lehigh Valley Railroad.
Interest and dividends on investments .... .
12,897
12,464
Sterl'img I1·on ,t Railway.-The property of this company , in Rockla,n d
Miscellaneous ........... . ................... .
18,225
29,094 and
Orange Counties, N. Y., consists of ~5,000 acres of land, with flllExchange ..... .... .... . ..................... .
4,050
2,605 naoes,
&c., having a capacity of 15,000 tous of pig irnn p er year, and
812
miles
railroad, houses, &c. The company endorses the $471,674.
Total. .•...•• .. . . ......•. . ......•......... $4,402,647
$3,969,882 bonds of of
the Sterlin.g Mountain RR. A. W. Humphreys, President, 4'2
E:r:penses.
Pine Street, N. Y.
Atlantic llne ......... ~-• ..................... . $456,416
$474,598
Sutro Tunnel.-Tunnel on Comstock Lode for facilitating mining eper1,126,258
1,127,800 ations.
management elected March, 1880. Annual report pub~~~~:
82,588
273,591 lished 1nNew
CHRONICLE of April 24, 1880. See v. 30, p. 24!9. •.V. 27, p .
'l'rans-Paciftc line ... ........................ .
538,288
568,570
340,441
AU8tralian line ..................•...........
876,669 529; v. 28, p. 147, 224, 302; v. 30, p. 249, 432.)
Un·ited States Express.-No reports.
Agenoies . ........ : .......................... .
358,867
333,853
Extra, repairs and expenses. ships laid to .. .
32,524
30,048
United States Rolling Stock.-See reports, V. 26, p. 289; V. 28, p .
93,299 ·
Interest .. .................... . ............. .
133,327 145.
Misoellaneous ..•. . ..... •. ....... . .•..•.... ...
144,033
201,365
Vtwmont Marble Co.-This company sold in 1880 $654,04& worth o:f
at a cost of $499,977. The statement to the N. Y. Stock ExTotal ..................................... $3,172,705
$3,519,821 marble
change,
1881, said that the company's property consisted of
Jiret earnings............ . .. .. . . . . . . . . . . .. 1,229,942
450,061 some 800Marob,
acres of land, comprising seven quarries, located at West Rut- .
land,
at
Centre
Rutland
and at Suth erland Fa1ls, Vt.; valuable water
-(V.28, p. 42, 97, 402,552,554,580; V. 29, p. 512; V. 30, p. 249, 565;
powers and extensive mills, m any large and expensive buildings.
v. 32, p. 265, 6 7 6,613; v. 33, p. 102, 256, 528, 561, 642.)
together with all the machinery, &c., necessary to perfect their extenPennsylvania Anthracite Ooal.-Stock and bonds admitted to N. Y. sive works. (V. 32, p. 335.)
Wells, Fargo & Company Express.-An increase 1n capital to $6,250,Stock Board Feb., 1877. Company failed Feb., 1879. (V. 24, p. 112.)
000 was made in 1879. (¥. 28, p . 18.)
Western Union Telegraph.-On the practical consolidation with the
Pennsylvania Ooal.-Liabilities at a minimum, and 12 p. c. dividends
paid. Paymant of bonds, due August, 1881, will be anticipated, if Atlantic & Pacific in 1878 the Western Union bad a monopoly of telegraphing
business in the United States. I~ 1879 the American Union
da&1red.
opposition line was started under the ausp10es of Mr. Jay Gould. Th&
Wester·n
Union
Co. divided up its surplus stock, making a sorip dividend
P1'tlman Palace Oa?'.-For extension of works 331:3 per cent new
stock issued at par to stockholders of reoord AprH 2, 1881, and $2,000,- "f 17 p er cent to stockholders of r ecord June 20, 1 879. On Jan. 1~
1
88
1,
was
dated
the grand consolidation, in which the Western Union
000 more to. FJtookholders of Sept. 3. Annual report V. 33, p. 302. The
inoome account fov year endiug July 31, 188 1 , showed total receipts of raised its stock to $ 30,000,000, p;ivin g p a r, or $15,000,000, for the stook
and bonds of the American Union; 60 p er cent for old Atla.niio & Paci1lv
$2,995,4.90, ag~inst which were charged the following disbursements:
~~Ei}filt :lli ~::::::::::::::: :::: :.: : :::::
h~!::: :: :::: :::::::: ::::: :::::: ::: :::
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
lxii
MISCELLANEOUS STOCKS AND . BONDS.
[VOL. XXXITI
Subscribers will conf"er a great f"avor by giving Immediate notice of" any error dlseovered lo thMe Tables.
Bond#--PrinoiINTEREST OR DIVIDENDS.
DESCRIPTION.
Date Size, or
pal,Whell l)ne.
Amount Rate per When
Par Outstanding
For explanation of column headings, &c., see notes on first of
WheN
Pwh~!~
and by Stook8--Laat
page ei' tables.
Bonds Value.
Cent. Paya.ble
Dividend.
-- -
....
$ .... $5,000,000
3,000,000
100
1,200,000
Sinking fund bonds, gold .. .. . .•.................. ........ igg·o 100 &c.
6,250,000
100
Wells, .Fa,•go ~ Company E~ess-Stock .•...••...•......... ··· 100 80,000,000
Western Union Telegr~f/1,- tock ............................
1,373,000
Real estate bonds, god, sinkin~!und ..................... i872, 1,000
3,920,000
:Bonds, coup. or reg., conv. till ay, '85, sink. fd. 1 p. ct. 1875
1,000
Sterling bonds, coupon (sinking fund 1 p. ct..per annum) 1875 £100&c
951,102
llnited States Rolling Stock-stock .... ......•...............
~ont Marble Oo.-Stock .................................
114
....
M.k 8. ·New York and Lendon .
('l)
. ....... ..
·nee:.
'i: 'i910
New York
New York, Office.
July rn.. 181n
Q.-J.
1~
New Y~rK, Office. ·
J an ..16i 1882
N. Y., Uruon Trru,t
Hay, oo•
g. M.&N.
M.&N. N. Y., Treasurer's Office May, 1900
6 g. .M. & s. Londo.11., Morton, R.& Co Mareh 1, 1900
5 ,:. J. .&.D.
J. & J.
4
+
Ce.,
1tock was given in new Western Union; and a stock d.istriimt10n of 3814 Construction, &o .• ....•...• ••• •• . •• •. .••...•..••.. • .. $300,000 $ •.127,000
per cent to Western Union shareholders. An injunction was obtained
~ainst the stock distribution and litigation ensued, but tlle stock
Net income for quarter ...................................... $1,583,527
dividend was permitted. (See V. 32, p. 124, &c.)
Deduct dividend for quarter.................. . ................ 1,200,000
In a histor!. of the West. Un. Tele. Co., the New York World gave the
:f.ollowing: • On April 4, 1856, the name of the New York & Miss. Valley Surplus !or q1:a.rter. .... . . . . . . ............ ... . .. .. . ... .. . .. .. ... $388,527
rrinting Telegraph Company was chan_&'!}d by a special act l)f the New Add surplus of Oct. 31, 1881 •.......... ~.... . . . . . . . . . . . . . . . • .
6 29, 7!>9
Y.ork Legislature, chapter 97, to 'The western Union •.rele!?I'aph Com:nany.' The authorized capital of the company then was i5oO,OOO, of
Surplus Vee. 31, 1881. ....... · ................................ $1,013,286
which only about three-fourths had been issued. On Aug. 19 1858, the
From the mmua.l r eport published rn the CHRONI.cLE, V. 33, p.
first scrip dividend was declared, being 33 per cent on $369,700, the 410, the following was given for the fl.acaJ. year ending June 30, 188 I.
amount of outstanding stock. On Sept. 22 of the same year, after the The revenues, expenses and profits (after reserving a.mount amffloieBt
amount of the authorized capital had been increased, a scrip dividend of to moot the claims of the Atlantic & Pa.cili• Telegraph Co. under exiat.·
414·4.0 per cent on the capital stock of $485,700 was issued. Three ing agreements) were as follows:
more scrip dividends were issued previous to the purchase 01' other
1879-80.
1830-81.
l ines by issuing stock. They were aa follows: July 16, 1862, 27·26 per R evenues ............................... ..... .... $11.738 ,094 $14.,060,806
cent on the capital stock outstanding of $2,355,000; March 16, 1863, Expenses................ . . . . . . . . . . . . . . . . . . . . . . . .
6,591,455
8,4.20,165
. 100 per cent on the capital stock outstanding of $2,979.300, and Dec.
23, 1863 3 313 pe,r cent on the capital of $5,962,600, increasing the
Net profits ...... ............................. $5,146,639 $5,6-!-0,640
capital stock to $7,950,700. About January, 1864, an arrangement was
From which there was applied-made for the purchase of the Pacific Telegraph Company, a corporation For dividends (8 per cent) . . ........ ............. $3,280,276 $3,732,633
chartered in the State of Nebraska and authorized to buy, build and For interest on bonds..... ....... ........... .....
428.516
427.455
"perate a telegraph l.i,ne from a point within the Territory or State east For sinking funds appropriations.. .. ...........
40,000
40;005
"f the Rocky Mountains to San Francisco. Its capital was $1,000 0 00.
'The purchase was effected by an exchan"'e of the Western Union stock,
$3,748,793 $4,200,09-1
issued for that purpose, for the stock of the Paci.tic Telegraph Company, 8urplu.a of net earnings for the year over divithe amount being $1,277,210.
d ends, interest and sinking funds appropria"Up to this time the lines owned by the Western Union were all west
er Butfalo, and the chief executive offloes were at Rochester, N. Y. The tions was .... .... .............................. $1,397,84.6 $1,-140,546
next purchase was that of the lines of the New York .Albany & Bu.tfa.lo
With the surplus on hand at the be~nning of• the 1lsoal year, July- 1,
@ompany, by an exchange of sto_ck amou~ti~g to $600,000; and the _1880, the result for 1880-81 was.as fouowa:
purchase of the New York & Washin!rton Prrnting Telegraph Company
in a like manner, for $146,500, followed. The stock needed for this The surplus July 1, 1880, was ...... ••·· •··· • • $403,255
purpose was all issued between Jan. 1, 1864, and May 16. 1864. The I ~dd surplus f~r year as above ••• •• - • •. - - •: • .. • l,440,546-$1,S43,S01
executive office remained in Rochester until July 1, 1866, when it ' For C~]1/!trnction of new l.i:nea and erection of
was removed to New York City.
additional wires·····•·· · ·····•········· · ··· ·· · $1,041,60-7
!' On May 11, 1864, a stock dividend of 100 per cent per aha-re was For purchase ot snndry telegraph stocks,
·
made, which increased the capital to $20,133 ,800. The increase of
patents, real estate, &c . .. • • • •· .. • • • • •· ...... •.
674,884- 1,716,54.i
•tock from that time to July 1, 1869, was a s follows:
Surplus July l, 1886 _...... ... . ...... . .. .. ............ ...
$l2'7 258
For At~autic ~ <;)hio Telegraph stock.........................
$833,400
.
.
.
'
For Erie&. M10higan TeleJa;raph stock.........................
68,000 1 This balance, together with the balances of previous years, la repFor House Telegraph stocK....................................
5,700 resented. in the profits and disbursemenlis of the company, for tttooen
For Pemberton & Golden, trustees, etc.......................
3,800 yea.rs, from _the date of the general oonB-Olidati_on-July 1, 1866. The
For cash.. . ...................................... ... ............
77,000 general exhibit of the company showed tho nom.mal. surplu.s to June 30,
For Western Union bonds............ . .. .. .................. ..
91,600 1881, of $16,616,468, out of which the stook dividend was deol:u-ed in
For Ithaca Telegraph stock...................................
14,500 1 881 to the amount of $15,526.590, leaving a nom.inal balance of
For California State Telegraph stock....................... ..
164,700 $1,089,878, which may go on as the nucleu.s for another stock a.ivide:nd.
For Syracuse_& Binghamton T elegraph stock .. ..............
4 ,900 Tho following statemeut shows the mileage oi' linesand wirea, number of
For Missouri & Kansas Telegraph stock. ................... ..
80,400 otticea, and traffic of the company, for each year from June 30, 1866,
For United States Telt?~Ta,Rh stock ...... ~.................... ~,885,200 to June 30, 1881:
For United States Pacinc l'elegraph stock . ... .. ......
::1::13,300
Miles of Miles of No. of No. of Me&Net
For equa~ation of stock as per consolidation agrettm ~nt
46~,000
Years.
Line.
Wire. Offices. sages Sent. Reoeipt.e. Reoeipts.
00
50
For fractions.·············· .. ······ · · ······················•···
•!
186~ -66
37 380 75,686 2 250
$
$ ..•....•
For T1:umansbu~g & Seneca Falls stock........ . .... .........
3,-?00 186 67 · 46'27o
85 29
2'
· · · ........ ·
· · .... · ··· 2
For Hrn~s & Wright Repeater.......................... . . . ...
l,nOO 1867-68 .. 50'133
97'59l 3'~f~
~•~•~~~ ~ •~•925
60
2 ',6~19
641 ' lO
500 1868-69 ·· 52'099 104'584 3'607 7'934'933
ForLodi~elegraph St.ock............................. .. ......
7'316'~
For ~er1can T~le~ap~ stock.···:········ ................... 11,833,100 1869-70 .. 54,°109 112:191 3'972 9'157'646
7' 33' 18 2,748,801
For P1tlisbw·g Cmcumati & Louisville Btook ......... ··· ·· ···
-4c,lOO 1870-71 :: 56;032 121,151 4;606 10:646;077 7:~M;I~
j
w
I
I
6-
This made the total capital stoek . ...................... , $41,063,100
"In January 1870, the capital was $41,070,610 and in January,
1873, $41,073,410. It remaiued a.t that figure nntil the present time."
The stock was nominally oftha.t amount, but only f;35,084,W76 was out1tanding prior to June 2-0, 1879, when it was again watered, and a scrip
dividend of 17 per cent declared, raising the stock to the above 11moun1i.
~_._~ l
t te
t f
th
...,_~
,.,..
l8
The 1ast . qu...,_.,.,r Y s a · men
or
e qu.a • ...,r en........g Jan. 1, 82
(partly estimated), was as follows.
Net profits ................... • ............... •·· ... ·.....••.. . •.. $2,010,527
~educt interest on bonded debt .............. - ,. ..• $107,000
Sinking funds........ . . • . . . . . . . . • . .. • • . . ••• . . ... . . .
~0,000
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
·
rn~M~ :: ~;;~~ i~a~g g;~ti ½~:~::~~ ~:tgi:m~
~~~:iri
g~;J~
1873-74 .. 71,585 175,7'85 6,188 HJ,329,25Q
9,262,653 ~,506,~0
1874-75 .. 72,833 179,49-6 6,565 17,153,710 9,564,574 8~,157
1875-76 .. 73,532 183,832 7,072 18,729,567 10,034,983 8,399,60.S
1876-77 .. 76,965 194,a23 7,500 21,158,941
9,812,352 3,140,12,7
1877-78 .. 81,002 206,202 8,014 23,918,894 9,8-61,350 8,651,642
1878--79 .. 82,987 211,566 8,6Q4 25,070,106 10,!t6,0,640 4,800,440
1879-80 .. 85,64l; 233,,.'>34 9,077 29,215,509 12,782,894 6,833.937
1880-81..110,340 327,17110,737 32,500,000 14,893,548 e>,908,279
-(Y. 31, p. 21,121,283, 306, 359, 883 404,482, 560, 608 65 :} • v. 32, .
p.43, 63, 68, 92, 124., 14,6. 156, 206, 232, 2o6, 289, 312, ()27, 54.-i, 637,
(87; V. 33, p. 282, 305, 41 I.)
INSURANCE STOCK LIST.
BANK STOCK LIST.
CAPITAL.
~ - - - - ,_______ , ftum~:t
Amount.
dates.t
DIVIDENDS.
Period. 1880. 1881.
CAPITAL.
COMP.A.NIES.
Latest.
1----1----1---- --- --- --
$
lxiii
TOO :(8 AND RAILROAD EARNINGS.
BANK AND IN~URANOE
1881.
Par. Amount.
---
$
erica"' .. . 100 3,000,000 1,685,400 J. & J.
7
7 Jan., '82. 4
7
7 Nov.,'81. 312
. Exch .. 1005,000,0001,647,800 M. & N.
owery .... 100 250,000 209,600 J. & J. 10
10 Jan., '82. 5
roadway .. 251,000,0001,296,700J. & J. 16
16 J an .. ' 2. 8
utch's'&Dr 25 300,000 217,800 J. & J .
612 7 Jan., '82. 4
entral ..... 100 2,000,000 517,900 J. & J.
712
8 Jan., '8~. 6
'base . ...... 100 300,000 191,600 M. & S.
6
8 Sep., '81. 4
Jhatham.. .. 25 : 450,000 180,300 J. & J.
6
6 Jan.,' 2. 4
hemical ... 100 3 00,000 3,5-17,400 Bi-m'ly. 100 100 Jan., '82.25
itizena' . . . . 25 1 600,000 188,200 J. & J.
012 7 Jan., '82. 312
ity ......... 100 1,000,000 1,734,300 M. & N. 15
15 Nov.,'81. 5
'ommerce .. 100 5,000,000 2,987,100 J. & J.
8
8 Jan., '82. 4
ontinental. 100 1,000,000 285,500 J. & J.
7
7 J an.,' 2. 512
rnExcb.•. 100 1,000,000 936,600 F. & A. 10
10 Aug.,'81. 5
ast ~iver . 25 250,000
79,800 J. & J.
7
7 Jan,, '82. 312
1th Ward•. 25 ' 100,000
17,300 J. & J ... ·......... July,'76. 3
<'ifth ........ 100 150,000
40,100 J. & J.
6
6 July, '81. 3 ·
ifth Avek .. 100 100.000 302,000 ................................ .
irst .. ...... 100 500,000 2,914,700 Q.-J.
30
40 Oct. , '81.10
~ourth ...... 100 3,200,000 1,303,900 J. & J.
7
712 J an.,'S2. 4
ton...... 30 600,000 393,~00 M. & N.
7
7 Nov.,'81. 312
allatin . ... 501,000,000 910,000 A. & 0.
8
8 Oct., 'Bl. 4
arfieldt ... 50 200,0 O
4,4.00J. & J.
3 .... . . .luly,'80 3
erm'nAm.• 75 750,000 15C>,100 F . & A.
5
6 Aug .. '81 3
erm'n Ex.... 100 200,000 105,600 May.
5
8 May '81. 8
ermania* .. 100 200,000 llb,~00 M. & N.
6
6 Nov.,'81. 3
reenw:ich*. 25 200,000
25,4.00 M. & N.
6
6 Nov. ,' I. 3
anover . ... 100 1,0 0,000 366,100 J. & J.
7
7 Jan., '82. 312
p.&Trad. 100 1,500,000 2,139,900 J. & J. 14
14 Jan.,'t:!2. 7
8
8 J an., '82. 4
•iving . . . . . . 50 500,000 14 ,800 J. & J .
eather Mfr. 100 600,000 465,800 J. & J.
9
10 Jan., '82. 5
anhattan * 50 2,050,000 1,085,6UO F. & A.
7
7 Aug.,'81. 312
arine ...... 100 400,000 111,900 J. & J.
7
8 Jan., '82. 4
arket ..... 100 500,000 329,300 J. & J.
8
8 Jan., '82. 4
eohanics' . 25 2,000,000 1,175,600 J. & J.
8
8 Jan., ':52. 4
ech. Ass'n. 50 500,000
84,200 M. & N.
512
512 Nov.,'82. 212
ech. & Tr. 25 200,000
48,000 .. ........... .. ..... July, '79. 212
ercantile . . 100 1,00(),000 ;J..81,100 J . & J. . .. . ..
3 Jan., '82. 3
erchants'. 50 2,000,000 747,400 J . & J.
7
7 J an.,' ·2. 312
erch. Ex.. 50 1.000,000 190,30u J. & J.
6
6 Jan. , '82. 3
etropolis*. 100 ·300,000
77,600 J. & J.
7
7 July,'81. 312
etropolit'n 100 3,000,000 1,346,700 J. & J. 10 · 10 Jan., '82. · 5
- - - - -- · --- ---- -- -$
$
400,000 582,698 1012
200,000
74,945 10
300 .000 475,908 20
200,000 337,016 18
153,000 223,169 20
300,000 481,4'37 20
210,000 189,027 10
250,000 149,524 11
2,088
300,000
97,722
200,000
1,000,000 1,401,861 13·65
300,000 645,070 15
200,000
76,694 10
200,010
87.411 10
200,000 134,322 15
204,000
76,989 812
150,000
70,672 11
200,000 155,677 7
1,000,000 1,168,071 10
1,000,000 858,171 14
200,000 143,137 10
200.000 375,453 30
23,131 7
200,000
150,000 135,!l60 1212
1,000,000 864,796 20
200,000
3,001 10
3,0( 0,000 1,758,627 10
500,000 176,928 5
80,434 10
200,000
200,000
19/356 812
200,010 301,Sll 10
150,000 205,767 20
6,694 5
280.000
150,000 108,979 14
200,000
9,680 10
150,000
7,719 10
300,000 167,702 13
300,000
16,183 5
200,000 190,417 12
9-1,020 11)
250,000
200,0JO 238,414120
250,000 175,631 20
200,000
29,15010
200,000 149,008113
200,000
91,53310
200,000 169,528121)
200,000 130,06410
210,(100 341,88415
200,000
98,079 112
300,000
8,109 5
500,00~ 627,455 !2
350,000 103,532 8
200,000 402,453 20
200,000 113,40812
150,000 213,5 15 20
200,000 109,397 12
1,000,000 415.999 10
200,uOO
36,662 10
300,000
27,312 812
200,000 178,373 20
200,000 175,845 9·73
500,000
55,042 12
350,vOO
30,650 812
200,000 143,706 10
300,000
79.566 10
250.000 24.1.rnO 11
300,000 166;015 10
250,000 495,989 20
Am~ricani ... 50
Amer. Exch. 100
Bowery .... . 25
Broadway ... 25
Brooklyn (t). 17
Citizen8' ... t 20
City ...... .. . 70
Clinton . ... .. 100
Columbia . ... 30
Commercial . 50
Continental t 100
Eagle .. . ..... 40
Empire City. 100
Exchange ... 30
F!1rragu~ .... 50
Firemen s ... 17
Firemen's Tr. 10
Franklin& E. 100
German Am. 100
Germania ... 50
Globe ........ 50
Greenwich .. 25
Guardian . ... 100
Hamilton ... 15
Hanover .... 50
Hoffman .... . 50
Home ........ 100
Howard ..... 50
Import. & Tr. 50
Irving ...... . 100
J efferson . . . t 30
Kings Co. (t) I 20
Knick'bock'r 40
Lafayette(t) 50
Lamar . ...... 100
L enox ....... 25
Longlsl.(t) .t 50
Lorillard .... 25
Man.&Build. 100
Manhattan .. 100
Mech.&Tmd . 25
5v
50
Merchants' .. 50
Montauk(t) .. 50
50
3712
N. Y. Eq'table 35
N.Y. Fire .... 100
N.Y. City .... 100
Niagara ..... 50
North River . 25
Pacific ....... 25
Park ......... 100
Peter Cooper 20
P eople's .... . 50
Phenix ...... 50
R elief ....... 50
Republic ... t 100
Rutg-ers' ..... 25
Standar1t ... 50
Star .. ....... 100
Sterling ..... 100
Stuyvesant .. 25
Tradesmen 's 25
Unit'd States 25
Westchester. 10
W'msburgC. 50
io ...
~llrf;r~* ioo 188:888 8~:~g8 :c&·ii·i·2·· ...(f . .'ru1y>si: j .. :~~!~~\<tt~ (:~
assau* ..... 100 1,000,000 115,800 M. & N.
6
6 · Nov.,'81. 3
ew York .. 100 2,000,000 7'.l9,3:)0 J. & J.
8
8 Jan., '82. 4
. Y. County 100 200,000
51.100 J. & J.
8
8 July, 'B 1. 4.
. Y. N. Ex. 100 300,000
99,800 F. & A.
7
7 Aug ,'81. 312
inth . ...... 100 750,000 150,200 J. & J. I 6
7 Jan., '82. 312
6 July,'8 1. 3
. America· 70 700,000 200,000 J. & J. I 3
orth Riv'r* 30 240,000
73,4.00 J; & J. i 7
7 J an., '82. 312
riental*. . . 25 300,000 192,000 J. & J.
8
8 Jan., '8:t. 5
aciflc * . . . . 50 422,700 234,000 Q.-F. I 10
10 Nov.,'81. 212
ark ........ 100 2,000,000 1,00~.ooo J. & J.
7
8 Jan., '82. 4
eople's*... 25 200,000 122,700 J. & J.
7
7 J an.,' 2. 5
henix...... 20 1,000,000 246,300 J. & J .
3
6 Jan., '82. 3
roduce* ... : 50 125,000
1,700 ........ . ..... . . .... July,'74. 312
epublic .... !100 1_.500,000 764,700 F. & A.
8
8 Aug.,'81. 4
t. Nicholas.:100 500,000 158,300 J. & J.
612 7 J an ., '82. 312
eventh W'd :100 300,000
59,200 J. & J .
6
6 July, '81. 3
econd ...... :100 300,000 117,400 J. & J. 10
15 !July, '81.10
hoe & L'thri I 00 500,000 180,600 J. & J.
8
8 J an., '81 4
iXth ....... :100 200,000
63 ,000 J. & J.
6
6 .luly, '81. 3
tateofN.Y. 100 800,000 405,4 00 M. & N.
7
7 Nov ,'81. 312
hird ....... 100 1,000,00<· 311,100 J. &
7
7 Jan., '82. 312
radesmen's 4011,0-00,000 355,700 J. & J.
7
8 Jan.,'82. 312
nion....... 50 1,200,000 762,400 M. & N . 10
10 May, '81. 5
22,600 . ............. . .............. , ... .
. States ... 100 500,000
est Side* .. iOO 200,000 134.900J. & J. 12
10 Jan.,'81,10
t Figures in this colwnn are of date October 1, 1881, for the !tlational
anks, and of date December 17, 1881, for the State banks.
f Formerly the Island City Bank.
J.I
N et
DIVIDENDS.
Surplus,
July 1,
1881.* 1879. 1880. lis81. Last Paid.
::irti!P.·.-~:
July, '81. 5
July,'81. 5
July, '81.10
Aug.,'81. 8
July, '81.10
July, '81. 5
Aug.,'81. 5
July, '8 1. 5
July,'77. 5
July, '81. 5
July, '81.7·35
Oct., '81. 7¼
July,'81. 3¼
A.ug.,'81. 5
July, '81. 6
July,'81. 5
July,'81. 5
July, '81. 6
July,'81. 6
July, '81. 5
July,'81. 5
July,'81. 7¼
July, '81. 3
July,'81, 5
July, '81. 5
Jan., '81 5
10
10
July, '81. 5
10
10
July, '81. 5
10
10
July, •81. 5
7
10
July, 8!. 5
10
10
Sept.,'81. 5
20
20
July, '81.10
none. none. Jan.,'79. 5
10
10
July,'81. 5
10
812 July, '81. 3¼
9
none. July, '80. 4
10
10
July,'81. 5
none. July, '80. 4
8
12
12
July, '81. 6
10
July, '81. 5
10
12
14
July, '81. 7
14
10
July, '81. 5
10
July,'81. 4
8
10
10
July,'81. 5
10
10
July. '81. 5
14
14
July,'81. 7
10
10
July,'81. 5
10
10
July, '81. 5
10
Aug.,'81. 5
10
312 312 Jan., '81. 319
13
14
July,'81. 7
Oct., '81. 4
8
8
20
20
July, '81.10
12
12
July,'81. 6
18
20
July, '81.10
11
10
July, '81. 5
10
10
July, '81. 5
10
10
July, '81. 5
July,'81. 3¼
7
7
20
14
July, '81. 7
12·46 12·46 July, '81.6·23
10
9
July, '81. 4
7
none. Aug., '80. 3¼
10
10
July, '81. 5
10
lO
July,'81. 5
10
July, '81. 5
10
10
Aug.,'81. 5
10
July, •a1.10
20
20
10
10
10
10
10
20
16
16
20
20
20
10
10
10
10
10
none.
10
10
13·77 14·35
15
15
7
7
10
10
15
12
7
812
10
10
11
11
12
10
12
10
10
10
30
30
6
612
1212 1212
10
10
10
5
* Over all liabilltieEI, including re-insurance, capital and scrip.
t Surplus includes scrip.
(t) Brooklyn.
MONTHLY EARNINGS OF PRINCIPAL RAILROADS.
Jan.
labama G1•eat Southern-
1879 ............................ (295 m.)..
~~:>)::
½ffi::::::::::::::::::::::::::::
rn Fetchison Topeka & Santa 8
I Feb.
I $
$
33.941 1
55.401.
56,Wl l
33,094
51.227
68,291
March. Ap-ril.
- - $33,152
4 7 829
a2;005
$
33,-164
45 844
58,293
May.
June.
:ti
30,438
44.145
52,:!07
$
23,263
40.821
51,785
July.
Aug.
$
32,790
47.525
5,,9o2
I
I
$
84.8071
58,701
68,187!
Sept.
Oct.
$
40,049
62.5-11
70,7u4
$
46,046
67.568
80,869
Nov.
$
49,600
61,155
78,242
I
Dec.
$
53,478
·61,669
Total.
$
444122
648.921
½~~:::::::::::.:::::::~i~~h~~~:t m:~~,
~~:~ ~i:ggi ~:1~ ~i:g~ ~8:~~ :~:ig~ irg~_~g:m ~:~~ ffl:ffi ri&:m i:~:ffl
481,103 478,381 654,090 696,966 677 .863 747,012 657,586 674,:.l29 806,780 1,32,122
008,7'28
847,215 8,556,976
1880 ................ (1,lfl7 to 1,540 m .)..
Cecia}k5:.~~~·~S:.~·) ··
165,412 147,196 125,141
½~8:::::::::::::::::::::c<iw·i,/tg~~:L
m:g1~ 1~:m
½M:~~t
~S::i•ai •:ea·cific_:_: .. (564 to 573 m.).. 167,750
124,51(1 148,551
B~~~¾;n.iiioii
1878 .................... (425 to 435 m.)..
...... 1,066,000 l,18ll,OOO
189,400 101,015
{~~:~~ U~:~~, ½ggJ~~
184,&-lO 165,630 2v5,912
115,277
95,007
m::&I
174,851
961,000:1,147,000
104,443 l88,81J7
½~·~~
~09,llll
141,619
1,277,000
129,494
124 r76 1,527,667
½~:~ ~Zl:~~ 203,880
½tJ:jfo ½~:;rt l:~::t:
2H,801 2.ll,748
t~+s:::::::::::::::J~:mi~~:ll~~:~:: ui&:ro~
1.~:~~i }:~:~~~ i:~~:~gg,g~:~r u~:rJ a~~½:~:~+ 1:~i:m }:~:~~ ½:~:t~ ½:~:~~g g:~:tg1
1880 ................. (2,301 to 2,586
1.200,614 l,070,487 l,373.4381,856,716 1,778,488 1,724,9,50 1.840.0671,973.4881,964,{197 2.120,229 2.199,466 1,005,222 20,508,112
1
m.) ..
188lt .......... . ... .. (2,586 to 2,771 m.) .. 1,602,907 1,454,218 1,709,638 1,872,870 2,091,411 2,159,382 i ,899,8!6 :.!,088.519 2,185.803 2,514,0uO 2,267,000
Chesapeake & Ohio-
mS:::::::::::.::: :: ·::.'.'.'.'.'.'. J~J ::(:
1880.......................... (437 m.)..
1881... .. .. ... .. ......... .. .(437 m.)..
Chicago & Alton-
it~
1
202,335
162,540
1878 ............................ (678 m.)..
1879 ... ......... ....... (678 to 840 m.)..
1880 ........................... (840 m.)..
301,073
843,787
524,!J54
487,890
1878......... ... ..... (1,650 to 1,709 m.) . . 1,045,467
1879 ................. (1,709 to 1,857 m.) .. 1,105,098
ct1~~g·o·Bui·ihiiiio~·&"q-i}r!~~..
rn~:8J~ 222,762
½i~:~~
198,68 l
184,889
2'~,479
igg:m
221,559
227,843
½~~:~~
199,443
252,235
i~:ii~
½~:~ i~:g~
214,255 288,236 259,11(.'
~·ll,l:J5
300,187 857,297 835,999 849,883 359,457
307,681 827.370 335,893 421,9371 447,794
497,018 626,473 542,96t 616.128 1 617,524
461,641 511,415 548,675 528,8601 616,9:J[l
911,150 1,169,RSl 1,118,7861,275,516 897,090
982,3771,071,788 l,018,755 l.171,3031,160,968
~25.0\i6
262,858
:~::z~
247.303
241,141
1
½~:~~
211,820
237,803
l~L.:·.:·.:::::::J½:~*~ ~g 2,772 ::L 1,432.740 1,41·~·~:.~ Ur~;~l~ ½:~l~~t ½:~~:~giI½:g~t~~ l:~:~~ ½:~l3~~ ~:~~~:~? !:8t:m
1
m~::::::::::::·.::
..::.:::::::Jtg~::L t:m
gg:~1 ~:~
t:~
gg:~~, 93,23!
~:i~ 114,129
g~:~~ ~:~ ~:ttt ~:g~g
~
1880* ................... (152to220m.).
72,466
83,265
88,278
83,689 111.800
131,7i7 131.90-1 130,89l
1881* .................... (220 to 230m.).
125,455
116,31:16
·
m8:::::::::::::::::H:*½~~g~:i~::L 764,298
m:~~g m:~
788,749
1880 ................ (2.25fl to 3,7 ,'5 m .) ..
d~~ii,
~ii"N . :i:ii~~~~eti;!51 m.)..
0
1
1878 ..... .......... . (2,078 to 2,154 m.) ..
]879 ................. (2,154 to 2,2H3 m.J ..
1880 .................. (2,203 to 2.624 m.) • .
18.-<1* .•.••••.••••..•. (2,778 to 3 ,018 m.) . .
• Approximate figures,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
t
991,000
683,000
l,077.8?11,084,857
1,008,321 889,623
1,154.632[1,131,683
L,240,667 963,205
123,977
~:~~
135,764
120,550
110,:l89
125,:,8!
......
153,808
l,09~,~ 1,255,887
l,10, ,0'f. ,l,l28,b9i
t.e61,725 1,294,573
1,178,7116,1,474,612
1,47~,54~
1,433,360
t.875,608
L,87 ,,OU6
October and November figures npproximate,
1,069.14~
1,303,08 ,
l,67 1 .177
2,3J6,440
75,167
88,477
128,597
~~.~~~I 873,456
8~~.~
80,0251
l~,~-~~
1,2~•?.~~
716,512 8,451,707
809,212
1,100,2!5 l,060,957 10,012,819
t,026,709 99l;~lli 1,257,678 1,493.62 L 1.472,038 1,397.30.} 13,086,119
. . . ..
.
1,561J,OJ0 1,678,000l l,6!5,00u 1,590,000 1,569,000
1
1,166.~71 l,~~6,4~Qll,450,8031,573,4g2 1,407,240 1,080,838,14,999,740
1.814,~31 1,3.0.9;,, 1,710,409 1,808,0,3 1,558,476 1,325,8,:5 16,098.373
1,609,686 1,767,030 \l,020.245 2,105.217 1.855.622 l.47·~·~.~~l19,41tl,~?.'}
1,983,031 2,::H5, 164 2.1!92,676 2,8!1,097 1,930,200
~:~i i~~:rJ ~~:i1z ~i:~gl ~~:~h8Z~:~8h~::rfo
900.67,; 871.041 1,18!, i45 1,087,953
917,ooy,200,000 1,538,000 1,7.:Sl,OvO
137,769 l,9:>8,285
179,161 1,936,539
218.009 2,U74,8Ga
899,878
340,947 4,671,510
433,473 563,879 443,525 486,921
553,014 5,755,677
601,101
536,843 583,832 628,811 668,11}3
513,723 7,687,226
696,776
708.906 761,120 767,849 785,199
tl80,133
67l,466 771,4.66 768,897 75u,159
946,4271,632.207 l,382,1231,868,348 1,296,082 1,070,525 14,113,503
993,823 l ,315,5'591,484,316 1,709,932 1.327,679 l,43:U67 14.779,715
1,837,860 1,552,018 20,454,49!
Chicago & Easte1·n Illinois-
Chicaa-o Milwaukee & St. Paul.-
151,240
148,074
240,795
1
t November figures approximate.
.
.....
~
RAILROAD EARNINGS.
lxiv
[VoL.
xxxm·
MONTHLY EARNINGS OF PRINCIPAL RAILROADS-(Concluded) .
.Tau.
Cbic.St.PaulMiun.&Omaba-
'L¼680 .................... (682 to 936 m.)..
18;:,1. ...... . ............. (93d to 9 5 m.)..
Clev. Col. Cin. & lndiauapolis1878 .. .. .. ... . . ................ ~391 m.)..
t~:::::::::::::::::::::::::::.c~81 ~t:
1 U ... . ............... . ..... t89lm.) ..
$
Feb.
,$ ~
lUa1·cb, April.
_$
$
l~~.l
$
/
232,146
3.'.lO, 1~4
193, 27
257,786
178,0,8
158,594
209,783
251,64.d
259,208
261,211
883,29
215,645
264,426
267,444 1 269,553
.June.
July,
$
$
Aug,
__ $
21'<,fl93
404,562
236Jll!.
392,702
25q_344
273,817
2:il ,018
385,586
362,180
Sept.
Oct.
Nov.
Dec.
Total.
$
$
'
$
$
300,833
SB;i,182
34"!,052
37'0,5'26
842,894
31:i0,733
388,278
336,165
336,830
~~:~J
277,72'i 8,528,7
~:~
3i3,9i0
275,557
:gg:~?1~~:~
:~g:m
360,076 374,395 860,174
1880 .................... (887 to 551 m.). .
1881.. ................ (551 to 1,008 m.)..
124,759
307,476
ll!6,022
817,__681
160,883
408.493
1819 ................. .... ...... ~87 m.)..
· · .· .· .· 8877 mm . ))·.·.
· · .·.· .· .· ..
· · .· ·. ·. .· .· ..· .· .· .· .· ..
· · .· ..
11880881.· ..
12,698
18,779
24,968
12.254
20,065
16,471
17,412
25,609
26.939
1880 ... .. ........... ... (508 to 900 m.§)..
1881. .................. (508 to 900 m.§)..
182.444
173tt91
162.967
175,187
1:54,154
187,023
1879"' . ............... . ........ (293m.)..
77,411
77,520
98,42i
102,129
(292 m)
1878
1879. · · ·· · · · · · ·· · · · · · · ·· · · · · · · · (292 m·) · ·
:. :e:.x:·:.a:·:. :. :c;··..e:· :. :.t·.· :._:.a:· ~~_9,22 mm·. )):.:.
:. :. T:.
l ~ l~.t:. :. :. :. :.&:.
,.,
00
0 1
8
H10 0 0 0
(501 m)
1878
141,899
137,047
176,079
154,401
127,171
187,038
166,9€16
122. 74
164,041
211.899
216,061
176,856
139,936
16n,444
20tl. 735
190,812
187,453 138,606 214,222 23t,rno 282,720
136,65
99,8LO 141,538 1711,810 239,735
184,071 107,560
191,31 'i 179.<}96 224,812 238,081 233,448 242,214
172,950 *191,949 •198,U0 ~2:5,308 •202,5'l7 ~213,483
207,918
193,125
207,1 47
*201,782
178,567
253,238
279 , 685
239,202
205,888
174,52&
143,077
188,863
426,832
408,183
380.477
675,889 630,3Sf, 654,840
601,977 786,06t.11 807,859
732,7uf'i 806.837 880,211
868,iU6 • 18,610 *830,325
625,201
631,843
783,120
*748,235
589,812
656,065
673,182
Denver & Rio Grande-
Dei,;Moines & Fo1·t DodgeEast:reun. Va. & Ga.-
Flint & Pere lUarqnette-
~~:~~ ~~:~~
~:8~8
418,467
~g~:zgg
389,761
~~:g~g
417,lOd
~i:~
!!~:rr
410,965
164,883 1 103,925
483,2121 514,767
295,456
58 J,230
878,182
548,~84
400,183
606,rn8
40fl,588 473 .fl83
620,6-12 ~665,686
408,562
t66,819
849,196
17.728
27.78..'l
24,201!
18,041
24,121
32, 80
19,184
28.18-1
85,b67
22,032
26.925
51,450
23.857
83.564
47.519
24.494
_l1?40',80~.
v
17,209
80.980
35,651!
24,233
86,695
124,284 118,810
154,4171 183,900
111,s1 2
L29,64tl
195,556
22.!,769
220.000
254,0U6
2 2,4'18
206,2-10
303,518
815,tH4
298,680
304,237
88,725
73,996
70,410
88,561
107,850
123,570
118,898
½~~:~g~
t17,026
151 112
•
16,226
18,1461
80,225
½~~: :::::::::::::·::::~~~.8 .~~ct\i:t: 1gg:~~~ lrn:~ m:U~ ½~:iig, ½A8:~gg m:~;~ m:~~ m:ffl ½ti:~g~ ½~:ig2
Hannibal & St. Josephr'"
f'iLi :~~~·;·;·;·;·;·;·;·;·;·;}~~;~\!!l~f
Illinois Central-
128,570
rii:zi~ ~:m ~~:~~ ~:~~ 165:r~i
3tl2,56! *325,635 *3~5.209 "'267,082! *226,899
mg~
*2..l7,J·, 3
mt:::::::::::::::::::::::J!ii ~t
H:;i~
1iUPo 18Uli!, JH~
1
196,287
832,55:
i~.~ ~~:k, ~8~:t~ :~:~s ~:m m:~
' 2J7,66ll *805,462 *381,51.
552,70B 568.031
580,578 573,250
681.736 724.095
*i61,354 *7li,01:14
1878 ........ . ....... (1,220 to 1,257 m.) .. 624,659 511,88b 586,409 533,838/ 608,527
1879 .. ............. ( L,257 to 1,275 m.).. 580,102 466,921 532,161 492,591 575,401
1880 ............ .. .. (1,275 to 1.821 m.) . . 51-l5,212 618,806 613,0 18 535.782 665,li O
1Jri~·1ia.Biooiii;·&iWestc.!i?J~m.) .. *600,472 *402,851 *536.395 ·632,0631 *636,870
International & Gt. No1·tbern-
146,637
ai:~; ~:m m:!li 1m:!~! vi!H~ 1!:~iI
1
ug~g tii:~ l8:~~ ~:~r Z8:m 8~:~~5 g~:~i ½~~:~ ~~:§()88 ~:i~i
1~+S::::::::::::::::::::·(5i1rtcmt:t·
Mi:m M~:m i§~:~ 1~S:6i~•1%l&~ .i~g:~~ .~~:~ *i~+:~~s .~zg:~i .~:~
½~:::::::::::.:::::::: ~~mgm::)::
591,371
455,699
491,251 416,030 434,919 361,513 390,080 499,468 869,008 428,992 407,9
)
ashviJ!i- 973
Louisville &
697,083
421,579 800.oss 425,750 504,229 419,246 448,740 527,21<1 609,578
t;l101 ~:):: 450,476 430.os
rn+S::: :: ::·: :·:::::·:::coq8
i~~:~~i 1. ~i~:~~ m:~i i~i:~s~ ~ggM 1:&&8:i~8 •1.8~:~g
½ffi::::::::::::::. · H:~z tg ~:~ ::~:: gri:t88 ~zg:~~~ m:S~~
1
~:=
iL 1!Uli I?H~ JUn ~:ni
1fflf: ~ t: ?~t~??~~H8
~.~crJ:r;..) ..
~~71~~~~.~.~~~.~.~...
1879 .............. .... yR2 to 206 m.). .
21,853
21,170
20.972
19.865
18,847
25.271
18.900
23,166
~:~~ ~!:~l ;:~! i~:~~ ~:~! tlt~l Ut!~
1
18,618,
~~:Jf~I
1656()
2-1,940
18,414
21.308
1801z
22,78~
22.100
80,001
28.671
87,995
24,975
21:1.797
rnri.·::::::::::::::::::.c~i~~tJ~:L: ~t.i~~ R~t ii:JJ? ~:~~ 44557· ~:~~ t:m ~:~~ gg:et~ *gig tUt
309,694
71,701
91,403
95,676 114,979
~.?.~.•.~-:-:-............. (52 m.).. 271,992 188,790 1fl5,755 115,325, 108,731 90,841
M~W~
809,S 6
91.609 110,491 106,147 161,253 267,084
1879 ..... ...... .. ....... (528 to 506 m.).. 194,486 170,658 lfl2,740 119 49.. 1 117,593
·.-.-.Jggg ~:L ~~:~~ ~:~t ½Bi:ri~ tig:gg1 1:~:~t ½~h~ -m:88i .m:~~ .Jgt:iu .~t:m .~g~:ffl
½~:::::::::::::::::: ::·.-.-.
8t
156,994
137,104
85
702
01,883
177,806 155,771 148,257 128,409 124,837
• Louis- )
Nashville Chatt. &
174,245
½:h8~ ~:i~s 109,958
½~:::::::::::::::::::::::::::: fES4t ::) .: 167,278 158,084 149,407 128.500 rno,524 105,047 i~:590 169,326
182,0 7
167,473 176,206
1880 ............................ 849 m.).. 205,034 191,154 1611,457 155,406 158,8311 144,155 151,5
1
172 121
152,059
1879 ........ ....... .......... . (1,000 m.) .. 2,024,812 2,210,30! 2,474,!l92 2,214,626 2,211,011 2,022,823 2,194,422 2.546.029 2,922,876 J,898,586
1680 .......................... (1,0t Om.) .. 2,593,618 2,817,231 2,854,835 2,782,324 2,540,998 2,653,477 2,863,811:1 3,022,855 3,000,627 3,095,198
...... -: . ' .. ...... ..' ... ......
. ..... I
......
2,404,718 2,293,463 2,668,250
N ~~lYoi·ii"i::.ake. Ei·t"e .&.
1878 ........................... (928 m.).. 1,304,018 1,121,411 1,147,208 L,127,079 1,172,961 1,258,088 1,157,690 1,445,929 1,838,271 1,473,532
1879 ...... ...... ...•........... (928 m.) .. 1,147,178 1,207,3911,356,7801,372,755 1.350,574 1,230,419 1,273,532 1,450,223 1,492,495 1,713,697
1880 . ......... .... ..... (928 to l,00i3 m.) .. 1,296,881 1,252,21 1,644,958 l,6(3,1511,592,544 1,f.l61,812 1,580,976 1,606,873 1,786.417 1,899,910
N1~1Y.tirk.·& Ne~·Eu. ii:i~d~ m.) .. 1,443,437 1.425,765 L,847,261 1,709,057 1,776, 91 1,794,982 l,7d7,081 l.7'i2,895 1,784,200 ..... .
to 316 m.).. 164,231 148,908 183,845 179,689 183,700 219,891 205,056 249,885 235,642 215,491
1880 ................... .
2-!6,8;W 267,IH4 ; 260,493 259,522
1881* ................... 816 to 894 m.).. 189,749 173,614 212,019 212,869 2.5,271
2,801,835
3,047,541
188L... . .......... . .............
New York Central-
9 m.)..
178,148
190,866
207,710
u,3,525
164,431
154,549
150,430
16 ,317
170,9i9
w~~t~...:.> ·.
NewY01•kPenn. &
~
8
hio-
1879 ............. . ............. ~560 m .)..
188u ............. . .............. (560 m.)..
N~~/.;ik&'w'esi:".:.:. :c:.i"i;m:·i·ss~OJ:..:
298,647
412,865
4.21,90
294,713
884,982
389,125
841,824
496,332
830,812
412,871
471,973
817.143
846,644
474,378
301,272
368,486
447,2W
360,042
483,538
422,65i
!iL:~):·:·:-:-:·:-:-:-:-:·:·:-:-:-:-:-:-:•Jilit
i ~ffi UHli lf i~J m~m t~!IH !fi~m f l~f i
1879 . .. ......................... (322 m.) ..
265,002
No1·the1·n Central-
273,607
834,166
½~::::::·::·::::::::::::::::::~=~t: ~:t~ ~:~ !A~:~
No1·thern Pacific57,845
41,741
44,658 108.975
mt::::::::::: :::: ·:::."{&if tl~ ~J:: ~:t~ 77,259
119,358
½~-<:::::::::::::::::: ·mfii/~~ ::L: 1~U~
77,479
150,606
~:~:51
½~:g~
~~~:~~
2
oS,;jf>4
505,848
681.811
949 185
•
½t~;gg§
21,61
85,90d
(1,255
290,586
816,626
287 3 3
• ;
149,552
185,653
175,996
1,881,891
1,515,835
1,797,838
210,856
24J,412
198,108
438,52
500,748
426,360
477,776
508,825
455,277
408,479
452,69'2
404,114
473,361
155,012 158,680
184,955 177,342
179,947 209,446
196,123 1221,438
201,181
200,808
285,910
246,064
175,892
179,972
209.046
*216,489
143,240
208,329
181,746
415,81¼
476,u46
455,03t
328,869
817,568
~~:re ! t~~
3l!'i,307
1
m:~~~
316,716
413,584
377,316
~~:&1
426.837
~:i~g
m:~~ ~~:m ~~:~ro
414,599
494 310
•
101,488
115,656
185,700
211, iOO
148,679
204,195
217.613
305,292
130,06]
198,744
253,105
361:.27tl
123,02
192,3241
241,277
40~,180
123,134
210,927
223,500
411 ,62-1
134,081
270,893
830,500
490,096
152,146
295,260
858.456
565,485
102.5
210,685
300,822
428,903
62,470
115,084
215,843
324,425
Penusylvauia-
(.all lines east of Pittsburg & Erie)-
2,996,101
3,131,997
~:~:~ ~:~:~
1880 . .............. (tl,806 to 1,820 m.) .. 8,088,551 2,944,576 3,278,186 3,488,866 8,417,916 8.221,476 8,449,644 8,728,355 3,647,548 3,882,714 3.574,918
1881 .......... .. .... }il,844 to 1,904 m.) .. 3,189,215 8.095,614 3,1:-44,804 3,760,872 8,656,807 3,807,i87 3,71:l0,418 8,809,978 8,785,006 8,672,971 8,840,250
~:m:~l ::~:~ f:~½g:m
i~~:::::::::::.::: :c+i;7io t~+½:~ ::~:: ~:~:~g ~:~:8fill ~:i~:~ ~:~:gg~ ~:fJ:~
'P~?}8~~~~~~.~~. ~ ... ~.~~~~.~~800 m.)..
673,980 525,410 605,384 991,028
1879 ..................... (800 to 892 m.).. 957,215 877,865 l,041,142 1,142,884
....................... (882 m.) .. 1,816,089 1,085,162 1,4o9,3t:!91,496,830
1880
. ..... 1,836,42t- 1,600,568 1,481,864
1881:::: ........................ (892 m.)..
8
8
..
Mf.~~~:.~?::.~~.~.~-i·~·~l1~1~.J
1879 ..... . ........ ..... ......... 195 m.)..
68114
59,757
96,92Z
101,774
1879 ..... .... . ..... . . ...... ...... (71 m.)..
1880 .................. . .. (71 to 121 m.)..
1881* . .. .. . . .. .. .. . . ......... (121 m.)..
40,075
48,«5
511,218
71,148
85,157
44,20!
54,750
64,186
875,522
884,029
841,818
839,161
490,195
560,791
82,790
ts.fs: .~~~~.~. ~ ~. . ~-. :1_1.~-~~W'~-:-). .
St. Louis h'on Mt, & Souibei·n-
1878 ............. . ............. (686 m.)..
1879 ............................ (686m.)..
1860 ........................... (686 m:>: ·
1881. ......... .. . . .............. (686 m)
St, Louis & San Fl·anciscg27
)
liro:::::::::::::::::::::~tJig(rJ:f
1881• ....... ... ........ . (597to648m.) ..
St, Paul Miuu, & Manitob'Me
g~•.8~
96,936
1~:m
1Z~:~,,
212,435 ! 178,284
)
1,498,658 987,7211,402,792 779,4811.408,674 1,683,022
1,843,014 1,303,52~ 1,462,280 1,874,018 1,542,911 1,531,204
1,398,53111,282,835 1,531.813 2,0 9,256 1,746,299
1,707,295 l,835,725 2,000,986 1,945,874 1,989,948
76.375
100,963
116.699
100,392
72962
110:410
101,950
51,254
56,548
52.460
63,786
72,0i4
77,982
62,152
68,780I
983
535,411
583,
724,718
656,832
*'7~·86gl 632,052
.23 . *687,280
115,810 125,684
118,588
203,276
290,329
2i9,06J 808,569
284,820
226.695
225.054 291,202
48,606
64,751
82,558
100,235
116,682
143,881
110,1411
75,844
70,262
108,434
137,886
73,859
63,210
95,847
118,226
65,614
69,169
105,837
1!4,356
74,846
92,3~
188,lo3
113,774
91,891
105,648
150,727
116,732
81,760
114,229
136.706
121,799
30,288
41,831
47,028
64,110
"83 101
•
844,10sj
358,147 818 ,
08 24~
451,560
30
704,002
81,529
99 908
38,404
37,163
52,0 2
48,995
270 83
302,64;1
38,465
31,786
44,370
51,540
43oo.·ZBt
44,265
3 .,
62,568
848 584
•
403 316
565,St>O
644,386
120,375
46,516
55,216
67,589
tl5,500
8
409,
591,075
79,'756
33,866
87,7i8
52,924
44,900
99 16
2 • 1
332,166
432,655
583,512
86,997
1~:~~ ~~:~3~ i~:ZM ~~:~~~ ~t:~t
260,251 252,833 266,878
99,723
216,832
226,063
190,849
241,839
188,94-0
170,667
153,066
264;<!0~
195,711
820,46tl
226,073 266,570
354,0821 33i,ll7
60,7751 86.526
71,121,
~6,728
108,988 113,511'1
109,758 140,179
.............. 195 m.)..
1880
1881•::::.:::: ................. (195m.) ..
1,286,014
1,832,547
1,457,881
1,6t.8,S02
80,013
44,887
55,47d
68,5b5
,oo]
&IB'.
. o ~5f.·Z~8
t8.·~ :~.·1~
98,606
1~::~: 1~~:t~
262,050 1 265,298
239,991
1~~:m
283,£99
268,657
174,177
280,3-17
141,088
267,443
rn
.gJJ,•!bg
468,195
655,418
656,951
:·.:.:.:.:.·. ·. :.·. ~~.;~c~:}: lli:F~·; ½ti:~~ ~~:~ m:~ ~i:~ ~;t~ ~:~ ~::g~ !~J~ ~:~si ggg:~8 297•040
!it::·::::::::·
1
~:~
~·~
~:~g1
ro:rJ
~:~~ :g~
~r:t~ t:i~&
~~:~g 88,~3~
~A:~~ 26,969
~:szg
~8:gg1
:?~::::::::::::::H88~:L: ~~:g½8
sfifi~:~t
..... .
'
48,117
4.7,976
51,241
50,290
88,3Hl
26,407
28,816
22,917
21,712
1881. .................... (100 to 127 m.)..
-~· .1:.~~~~~-:-:-... (444 to 583 m.)..
Tf~.~
1881* ... .. .... ... . ... (588 to 900 m.)..
Wabash St. Louis & Pacific-
..
18~
d!7Q tn H's;;o
··:::::::.r9.(155'1to2479m.)
JAAl•·::::.
1
m)
245,7,
273,63
776,790
.Q1l .fl17
812.184
801,85812,754,408
892,025 9-18,7i8
fl~2 1. 1Hl.!'i\ll 1.02Sd>l2 1.144.(-16~ l,!'!O-l.tt!l2 l 1S1. -:;, 1 1.542.838 1,49n.026 l .396,300 1,399,555
1,M0··•·8·1·6·t2.42.8••.1.1_2_
2111,165
250,839
215,070
I 312,420
r9,451 978,'129
~lH
808,666
403,570
I 357,724
953,4681,066,7421.19,4781.178,i}.;OJ,50',203 I,!31,77
:I: The August and Septemb er earnings in 1881 are approximate and do not inolude amountt And 66 miles of canal.
* Approximate figures.
§ Earnings first six months arereceived from interest and dividends; th is a m ou nt was ,i,8)8 J?er month in 18:,0h,3,8~2 in 1879 a nd $5,061} iJ?. ~878.
~
, Cncludmg earnin11:s of O 1J D1vi, ton, 180 miles additional.
based on 508 miles-remainder of year on 900 miles.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
NORTH BRITISH & MERCANTILE
INSURANCE COMPANY
OF LONDON AND EDINBURGH.
INCORPORArrED
A.
D .
1809.
UNITED STATES BRANCH ESTABLISHED A. D. 1866.
CHIEF
OFFICE:
o. 54 WILLIAM STREET, CORNER PINE, _NEW YORK.
&lied.in and paid.up Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. .................. $2,250,000 00
eserve for all Fire Liabilities, including Re-insurance.... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,~42,95f 36
RT FIRE SuRPL us. . . • . . . • . • . • . . . . . . . . . . • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • • • . . . . . . . . . . . . .
5,054,224 28
- Ca.sh and Invested Assets .......... . ................................................. $9,947,178 64
"ubscribed Capital, not yet callAd in, for which each Stockholder is personally liable for his unpaid
portion .... .... . ........................... ·................. . ...................... $7,750,000 00
or additional Security to Fire Insurance Policy-holders in the United States there are held by
Trustees, in the City of New York .................................................... $1,161,068 42
posited with different State Departments, all invested in Government, State and New York City
Stocks ............... , . . . . . • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
543,605 00
nvested in Government, State and City Stocks at market value ................................. $1,704,673 42
oney on deposit with the Company's Bankers in New York, and in Office................ . . . . . . .
140,447 53
oneys in course of transmission from Agents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
185,360 02
ther items.......... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14;183 28
GROSS ASSETS IN UNTT,ED STA.TES............ . . . • . . . . . • • • . . • • . • . . . . . •
. ... . . . . . . .. ...
l Liabilities, including Re-insurance on outstanding Risks.................... . . . . . . . . . . . . . . . .
$2,044,664 25
976,939 01
Net Fire Assets in United States, over all Liabilities, including Re-insurance ................ $1,067,725 24
DULY-APPOINTED AGENTS IN ALL THE PRINCIPAL CITIES AND TOWNS IN THE UNITED STATES.
OSSES IN THE UNITED STATES PROMPTLY ADJUSTED AND PAID BY THE M.ANAGEMEN'l
IN NEW YORK.
UNITED STATES BOARD OF MANAGEMENT, NEW YORK:
LON HUMPHREYS, Esq., Chairman
(E. D~ Morgan & Co.)
AVID DOWS, Esq. (David Dows & Co.)
. P. FABBRI, Esq. (Drexel, Morgan _& Co.)
Chas. E. White,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Hon·. S. B. CHITTENDEN.
EZRA WHITE, Esq.
J. J. ASTOR, Esq .
Sam. P. Blagden,
MAN AGERS.
CLARK & BACON,
No. 3 Pine Street, New York,
'B ANKERS · AND .B ROKERS.
TRANSAO'P A
GENERAL BANKING
BROKERAGE BUSINESS.
AND
ALEX. S. CLARK,
Member of N. Y. Stock Exchange
:CN'I'3PwlllST AI.I.OWE:C ON :CEPOSITS.
HACKLEY B. .BACON.
OUT-OF-TOWN CORRESPONDE~CE SOLICITED.
LATHROP R BACON.
LANSDALE BOARDMAN,
STOCK BROKER,
-OFFICES-
NO. 80 BRO.A DWAY, NE·w
YORK,
Hall B~ilding" Tr,•-Y., N . Y.,
CONNECTED BY PR1V ATE WIRE.
ALL SECURITIES CURRENT AT THEN.
Y.STOCK EXCHANG
.
.
CARRIED
0~
A
FAIi~ MA .H GIN.
IN'rEREST ALLO\VED ON CREDIT BALANCES .
. TURNER, MANUEL & CO.,
BANKERS AND BROKERS,
NASSAU STREET:,
22
ARCHIBALD TURNER, {
HORACE ·'MANUEL,
5Members N. Y. Stock Exchange_
HENRY M. ODDIE.
NEW
YoRK
Stocks,Bonds & Miscellaneous Securitie
BOUGHT AND SOLD ON COllllU ISSION.
JAMES A . B ~}N .~JDICT.
CHARLES J . TOWNSEND,
Member N. Y . Stock Exchange.
MY RON D . TURNE
JAMES A. BENEDICT & CO.,
56 WALL STREET~ NEW YORK,
BANKERS:,
BROKERS
AND
DEALERS IN COMMERCIAL PAPER.
STOCKS, BONDS AND DISCELLANEOUS SECURITIES
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BOUGHT AND SOLD ON UOMMISSIUN.
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t1EW ¥ORK•
BUY AND SELL
GOVERNMENT BONDS,
STOOKS:,
AND MISCELLANEOUS SECURITIES.
,
SHELDON COLLINS.
THOMAS H. BODDEN.
FRANK JENKINS.
JOHN SICKELS.
MAX E. SAND, Member N. Y. Stock Exchange.
THEO. V. SAND.
SAND BROTHERS . & · CQ. ·
f
BANKERS AND BROKERS,
No. 54 Wall Street, New York.
Stocks and Bonds Bought and Sold on Commission.
.
t)OMlIERClAL PAPER NEGOTIATED.
-=====================:::-;::=:::==::::::-=== ==---====
KNOBLAUCH & LICHTENSTEIN,
BANKERS,
fio. 29 William Street, Corner Exchange Place, New York.
MAKE TELEGRAPHIC MONEY TRANSFERS .
.Draw Bills or Exchange and Issue 'Letters or Credit on all
Pr-ncipal Cities or ·Europe.
·p. •
SPECIAL PARTNER, DEUTSCHE BANK, BERLIN.
WM. FAHNESTOCK,
Member N. Y. Stock Exchange.
JOSEPH T . . BROWN.
H. C. FAHNESTOCK,
Special.
FAHNESTOCK & CO.,
BROKERS IN
STOCKS AND INVESTMENT SECURITIES~
UNITED BANK BUILDING,
No. 2 WALL STREET, NEW YORI.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
JOHN MUN:ROE & CO.,
FOR.EIGN B.ANKERS,
No.
s ·w ALL
STREET. NEW VORK.,
No. ii: POST OFl,,ICE SQUARE, BO~TON •.
FURNISH EXCHANGE FOR COMMERCIAL AND TRAVELING PURPOSES
-
ON
p ARIS, LONDON' BERLIN AND GENEYA.
CA.B LE TRANSFERS ON /PARIS.
Traveling Credits in Pounds Sterling and 1n Francs.
HOUSE IN PARIS:
MUNROE & CO.,
By vvhom Accounts vvith American Banks and
opened on J:;..,avorable Terms.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
GEO. F. PEABODY.
SPENCER TRASK.
Bankers are
FRED B. NOYES
Spencer Trask & Co.,
Bankers and Brokers,
70
BROADWAY,
AND
15
NEW STREET,
NEW YORK CITY,
Members of the N. Y. Stock Exchange,
.
Transact a General Banking Business .
All dasses of Securities Bought and Sold on Commission and Carried on Margin.
Daily Market Letters sent to Customers. Correspondence promptly attended to.
Interest Allowed on .Deposits Subject to .Draft at Sight.
BRANCH OFFICES, CONNECTED BY PRIVATE wmES.
Philadelphia, 132 8. Third St., C. F. Fox.
Albany, N. Y., Maiden Lane, w. A. GRAVES.
Saratoga, N. Y., Gra11d Union Hotel.
'-/'"10-70-/
@FedFRASER