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nbtstors' jnirtrltmtnt_ OF THE CoMMERCI~L & FINANCIAL CHRONICLE. [Entered accordlDg to act of Congress, in the year 1890, by Wx. B. DANA & VOL. 50. INVESTORS' co., in the office of the Librarian of Congress, Washington, D. C.] NEW YORK, JANUARY 25, 1890. SUPPLEMENT. INDEX TO RAILROAD MORTGAGES (CONCLUDED) , WILLIAM B. DANA & co .• .Publlsher8• 102 William Street, New York. VOL. PAO~, Baltimore & Ohio RR. Consol. M. 5s, due Feb. 1, 1988 ...•• 46 804. Brooklyn Elevated-Un. El. 1st M. 6s of 1887, due 1937 .• 49 583 Un. El. second M. of 1887, due 1927 .••• . ••. . •••.••...•. 49 584 Central RR. & Bk. Co. of Ga . Col. Trust 5s, due May 1, 1937 45 242 RAILROAD MAPS IN THE SUPPLEMENT. Central RR. Co. of N. J . Gen. M . 58, due July 1, H:187 .•••. . 45 402 MAP. PAGE'. Central Pacific RR. M. 6s, due Oct. 1, 1936 . ............... . 45 241, Alabama Mid1and.......... . ........... . . • . . • • . . • • . . • • • . • • . . • • . . . .. . • • . 14 Chesapeake & Ohio Ry, 1st M. 6s, due July 1, 1908 . .•••.•• • 45 54 Atchison Topeka & Santa Fe ............ ..................... 16, 17 and 18 2d M. ts, due July l, 1918 .•••••.••..•• .. • ••.••. ••••.••• . 1 Atliinttc & Danville .••..•• . .••..••••••.•••.••••.•••.•••.••.•••......••• 20 1st consol. M. 5, ciue May 1 , 1939 .....•.....••. ••••.•••• Baltimore & Ohio .••....•.••...••..••••••.••..•• . .••.•••••••..••..••.... 2t let .l.\I. Peninsula ext. 6s, due Jan. 1, 1911 ............. . 4.5 5~ 1st M. exteu, ions, 6s, due June 1, 1922 .... .. ..... . ... .. Bufla.lo Rochester & Pittsburg ......................................... 25 45 55 Cape Girardeau Southwestern. ....................... . • •. . •• •. . • •• • ••• 26 Chic. Burl. & Q., Nebraska ext. 4s, due May 1, 1927 .•••.••• 45 4;41, Central RR. & Banking Oo. of Georgia............................... . 2.3 O. M.&St.P.Ry.lstM.,Chic.&L.Sup'rdiv. 5s,due July 1, UJ21. 45 146 Central New England & Western ...................................... 30 1st M. Chic. & Milwaukee div. 7s, due Jan. 1, 1903 .••. 45 , 85 Central RR. of :New Je1sey............................................. 31 1st M. Chic. & Mo. River div. 5s, due July 1, 19:.!6 .•• • . 45 2i3 Centralia & r hester. •••. ••. .••••••• .•••.• ••••••••••• •• •• ••••. ••. . •••. ••. 32 1st, M. Chic. & Pacific RR. 6s, due Jan. 1, 1910 ....... . 45 14~_ Charleston Cincinnati & Chicago ...................................... 33 1st M. Obie. & Pac. West. div. 5s, due Jan. 1, 1921. .. .. 45 1-15 Chesapeake & Ohio . ............ . ....................................... 35 Cons. M. 7s, due July 1, 100/'i .......... .... ............ . 45 86, Chicago Milwaukee & St. Paul......................................... 38 li;t M. Dak. & Gt. South. Ry. 5s, due Jan. l, 1916 .••• . • 45 213 Chicago & Northwestern .••..••...••••••••••.••...•...•..••.•••..••.••. 40 1st M. Dubuque div. 6s, due July 1, 1920 ..... ......... . 45 lU Chicago Rock I .-land & Pacifl.c ......................................... 42 1st M. Fargo & Southern Ry. 6s, due Jan. 1, 1924 .. .. . 45 212 Chicago St. Paul & Kansas City................. . • . . • • . . . • . . . • . . • • . . • • . 44 1st M. Hastings & Dak. exten. 7s, dae Jan. 1910 .••.. •. 45 144 l,'incinnati New Orleans & Texas Pacitto .•••••••.••..••...••..•..•••.. 46 lstM. Iowa & Dakota div. 78, due July 1, 1908 . •••.••• 45 114 Cleveland Cincmnati Chicago & St. Louis ..•••••••.••. . ••••••..••...•. 48 1st M. Lac-rosse & Davenport div. 5s, due July 1, 1919. 45 lU. Colorado Coal & Iron Company ........................................ 150 1st M. Mineral Point div. 5s, due July 1, 1910 .•••.••• • -15 145 Colorado Midland .••.......•.•.••... •..•••.••..••..••.••••.•••..•••.•••• 50 1st M. River division 78, due Jan. 1, 1902 ...... ... . . . .. 45 85 Delaware Lackawanna & Western ..................................... 51 1st M. Southern Minn. div. 6s, due Jan. 1, 1910 .•••• ..• 45 114Delaware & Hudson Canal Co.'s Lines........... . • • . . • • • . • • . • • • . • • •• • 52 Terminal M. 5s, due July 1, 1914 •....•..••...••..•••.. 45 212 Denver & Rio· Grande...................................... . ............ 54 1st M. Western Union RR. 68, due July 1 , 1909 . •••.•• • 45 114 Denver Texas & FortWorth .•••••••••••••••••••••••.••••••••••••••••••• 55 1st M. Wiscon. & Minn. div. 5s, due July 1, 1921 ...... . 45 145 Duluth South Shore & Atlantic. ........................................ 57 1st M. Wiscor>. Valley div. 6s, due July 1, 192l>...... .. 45 145 East Tennessee Vir~inia & Georgia................................... 59 General VI. 4s of 1889, oue 1989 ....................... . 48 830 Evansville & Terre Haute .... . ........................................ 60 C. Rock I. &Pac.lstM.,C.Kau.&Neb.Ry.6s,dui>Julyl,1934 .. 47 262' Fllnt & Pere Marquette ............ . ............. . ................. . ... 62 1st M. E x ten. & l)ollat. 5s, due July 1, 1934 . . •. . ••.•••• 47 260 Georgia Carolina. & Northern.......................................... 63 47 261 , 1st M. St. Joseph & Inwa KR. 6s, due July 1, 1935 .••. Georgia Southt>rn & F1011da ............................................ 65 1st M. Wis. Minn. & Pac. Ry. 6s, due Oct. 1, 1934 ..•.• 47· 261 Gulf Colorado & Santa Fe ... . ................. . ........................ 20 Cincin. Jackson & Mack'w 1 st Con. M. 5s, due D ec. 1, 1936. 45 5'74 Hudson l::iuspension Bridge & New England .......................... 66 Colorado Midland Ry. lstM. 6s, due June 1, lll36 ........ . 45 540 Illino1s Central. . • • . . • . . . • . •. • . . . . • . . • • • . . • • . . • • . • • • . • • • . • • • • . • • • . • • • • • • • 68 Denver & R io Gra~de 1st Con. Ill. 4s, due Jan. 1 , 1936 .••• 47 228 Jacksonville Tampa & Key West . ...................................... 70 Improvement M. 5s, due June 1, 1928 ......... . ....... . 47 229 Kansas City Wya.J1dotte & Northwestern .••..••• ••••.••.•••••••....••• 72 Duluth South Shore & At. Ry. 1 st M. 5s, due Jan. 1, 1937 .• 45 274 Fort Worth & D enver CitJ Ry. l st M. 6s, due Dtc. 1, 1921. 45 440 · ~~!~~ 49 , 239 Georgia Car. & North' n R'y 1st M. f>s, aue July 1, 1929 . .• Lehi11;h Valley ............................................... ............ 77 Gulf Col. & Santa Fe Ry . 1 st M. 7s, due July 1, rn09 ..... .. 45 241 Louisville E vansville & St. Louis Con. See Evansville & Terre Haute. 60 · 2d M. 6s, due Oct. 1, 1923 •••. :-.............. . ......... . 45 241' Louisville & Nashville ..•...••.....••. .• •..•••.•••.•••.••..••..•••.••..• 79 Iowa Central lat M. 5s of 1888, due 1938 ... . ... . .... . ... .. 49 582' Louisville New Albany & Chicago ...................................... 80 Kan. City MempWs & Birm. 1st M. 5s, .due Mar. J, 1927, .. 45 575 Louisville New Orleans & Texas....................................... 82 Kansas City Springlield & Memphis ................ ·.•• . . ~ •• 45 574 Louisville St. Louis & Texas . • • • ••• • . . • • . . • • • . • • • . • • . . • • . . • • . . • • . . • • . . . 83 Kentucky Central Ry . 1st M. 4s, due July 1, 1987 ........ . 45 372 Marietta & North Georgia. ..................... . ........................ 84 KiJ1gs l)ounty Eiev. R 'y 1st M. 5s, du~ Jan. I, 1925 ..••.. • 49 237 Mexican Central........ . ........... . ....... • • • • • • • • • • • . • • • • • • • • . • • • . . • • 86 Lake Erie & Western, 1st M. 58, due Jan. 1, 1937 .••.....•• 46 45 Mexican Nation al ..•••.... . ••. . •••..•. • ••..••.••• •.• •.•••..••••••.•••... 88 Louisv. E . &St.L. Con.RR. I st Con ..~. ~s. dueJuly, 1 , 1939. 49 208 Milwaukee L ake Shore & Western..................................... 89 Louisville Southern RR. 1st M. 6s, due Mar ch I, 19 17 .... . 4.9 342 .Milwaukee & ..:Northern .................... .. .................. . ........ 91 Lease to Louis. New Albany & Chicago . ... . . ......... . . 49 a43 Minneapolis St. Paul & S. Ste Marie,............ . .. . .................. 92 Mexican Cent. R'y Uons. Mortgages due 1911 and 1939.. • 49 177 Mobile & Ohio.................. . ....................................... 94 M. St.P.&S.Ste.M.. rie Ry. 1st cont!. M. 5 8, due July 1,1938 .• 47 142 Monterey & Mexican Gulf ....................... 96 1st M. MillD. S. Ste. Marie& c 1il.Ry.5s,dueJan,l ,lij26. 45 243 New York Ontario & Western .......................................... 100 Mo.Kan. & Texas Ry . Genl. Cons. M. 6s, due D ec. 1, 1920. 47 170· New York Susquehanna. & Western . ............................... . ... 102 1st M. L. G. 7El, due 1}404.- 1906 ................ . ... . ... ~. 47 227 Norfolk & Westel'Il ...................................................... 103 Missouri Pacific Ry . 1st Cuna. M. 6s, du~ Nov. 1, 1920 ... . 47 287 Northern Pacific ........................................................ 106 Mobile & Birmingham R y. 1st M. 5s, due Jan, 1, 1937 .•••. 45 274 Mobile & Ohio RH. Genl. M. 4!l, due Sept. I, .l938 .•••.• ••• 47 83:hao'i-~iiiie: :: ~::::::::: ::: : : : : : : :: : ::: : : :: :: ::: : : : :: : : :: : :: : : :: : New York Chicago & 81•. Louis 1st M. 48, due Oot. l, 19a7. 45 541 Pennsylvania .•••••••••••••••••••.••.••••••••...•••••.••.•••.••••.•••.•.. 110 N. Y. Ontario& West. R'yCons. lstM. 5s, due June 1, 1939 49 238 Pennsylvania Poughkeepsie & Boston .••••••••..••••••••..••..••..••. 112 Norfolk & Western 1st M. Clinch Val. 5s, due June 1, 1~57. 45 541 Peoria Decatur & Evansville. See Evansville & l'erre Haute .••.•••• 60 Northern Pacific 3rd M. 6~1. due Dec·. 1, 11:137 .......... . . . .. 47 22 Pittsburg & Western . ............................. .... . ................ ~ 115 Duluth & Mani!Oba 1st M. D ak. ,1:<;x. 6s, due June 1, 1937 45 273 Poughkeepsie Bridge. See Central New England & Western •••.•••• 30 Ohio Indiana & Western 1st M. 5s, due April 1, 1938 .•• . •• 47 201 Richmond & West Point Terminal ..................................... 117 2d M. 5s, due April 1, 1938 ............. . .............. .. 47 201 Rio Grande Western ............................ . ....................... 119 Omaha & St. Louis Ry. 1st M. 4s, due Jan. 1, 19 37 .••. . . •. 45 213 Bt. Louis Alton & Ten·e Haute ...................................... ... 121 Oregon Pacific RR. Isl; M. 6s, due Oct. 1, 1900. ... . ... . .. . . 49 240 St. Louis & San Francisco ............................................. . 122 Philadelphia & Reading Genl. M. 4s, due Jan. 1, 1958 . . ••• 46 679 St. Paul Minneapolis & Manitoba •••• • •• •.••••.•••..•••.••.••••.••••••. 124 1st Pref. Inc. M. 5s, due Jan, 1, 1958 .••...•. . . . .•••.••• 47 141 San Antonio & Aransas P ase ........................................... 126 47 142' 2d Pref. Inc. M. 5s, due Jan. I, 1958 . .............. . .. . San Francisco & North Pacific............ . • • • . • • •• • • • • . • • • • • • . • • • • .•. 127 3d Pref. Inc. M. 5s, due Jan. 1, 1958 . .••.•• • . • ••.••••••• 47 142 Seattle Lake Shore & Eastern ........... .. .... . ........... . ........... 129 Pittsburg &Western Ry. 1st M. 4s, due July 1, 1917 . ..... 45 439 Southern Pacifl.c Company .... . ........................................ 131 Poughkeepsie Bridge Co. lf!t .v.t . 6s, due Aug. 1 , 1936 •.•... 45 275 Tennessee Coal & Iron ................................................. 153 Richmond & W. P . Ter. Oo. Col. Trust 6s, due Feb. 1, 1897 45 :s75 Tennes11ee Mid land ......................................... . ....... . ... 132 Consol. 1st collateral .M. 5s, due March 1, 1914 ....... . 49 115 Terre Haute & Peoria ............................................... . .. 134 Rio Grande West. R 'y 1st Trust M. 4s, due July I, 1H39 •• 49 237 Texas & Pacific .................. . ...................................... 135 St. Louis Ark. & Texas Ry. 1st .ll. 6s, due May 1, 1936.•.. .• 45 644 Toledo Ann Arbor & North Mich .................. . .................. r.136 2d M. 6s, due May 1, 1936 .............. . ................ . 4.5 64.4. St. P. M. &M. Ry. lst'M. Mon.Ext.,4s, due June 1, 1 ~37 .. 45 342 Toledo & Ohio Central Extension ••••.••. • ······137 Toledo St. Louis & KansM City......................................... 139 San Ant. & Aran. Ry. 1st M., ou ext., us, due July 1, 1926. 45 372 Union Pacific .•••.••.•••••••..•••••••••••••••••••.•••••••••••••••••••.••. 141 San Fran. & North Pac. R'y 1st M. 5s, due Jan. 1, 19 h t .••• 49 241 Union Pac1fl.c Denver & Gulf ............................... . ........... 142 Savannah & Wesli, RR. 1st Cons. M. 5s, due March 1, 1929 49 240 Wabash ................................................................. 144 Southern Pacific gen. M. 5s of 1888, due 193!'.L ••..••....••• 49 509 4.7 82 Texas & Pacific Ry. 1st M. 5s, due June 1 , 2000 ........... . 47 82 . 2nd M. 51', due Dec. 1, 2000 ............................. . INDEX TO RAILROAD MORTGAGES. 45 24~ 'Ioledo Peoria & West. Ry. l1:1t M. 4s, due July 1 , 1917.. ... . 45 403 VOL. PAGE. Toledo S. L. & Kan. City Ry. l ~t M. tis, due June 1, ll:lltt ... . 47 23 49 546 Virgioia Midland Ry. Genl. M. 5s. due May 1, lij36 .. .... . . . .Atchison Topeka & Santa Fe. Old mortgages ..••.•.•..••... 49 270 49 857 Wallash RR. lstM. 5s, aue May 1, 1939 ............ . ...... . New conaol. M. t i;, due 1989; new incomes, duft 1989 .• 49 272 2d M. 5s, due Feb. 1, 1939 ............ . ........... . . ... . . 49 302 Atlantic & Pac. RR. lstGua.r.TrnstM.4s, dueJan.1, 1937. 49 273 Deb. M. 6e, due July 1, 1939 ... . ....... . ............... . 49 302 1st M. Western d iv. 6s, due July 1, 1910 ........ . ..... . 47 109 49 303 Western N. Y. & Penn. Ry . 1st J'\:f. 5s, dqe ,Tan . 1, 1937 . ... . 2d M. Western div. 6s, due Sept. 1, 1907 ........... . .. . 47 llO 2nd M. 8 to 4 ~er cent,, due Oct. 1, 1927 .. .... . ......... . 49 304 Income M. Weste1'Il div. 6s, due Oct, 1, 1910 .•••.••. . -i2 176 West Shor e 1st M. 48 of lb 85, due 2361. •••• •••• •••••••••••• 49 303 1st M. Central div. 6s, due March 1, 1922 •••••••• ••••.• 1 t~ 11~ ~n~:Siem ::::: :: :::::: ::::::: ::: ::::::::: ::: ::::: ::: ::::: ::: ?g 4 ................ . mi i~:~~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ..... H••················· .. INVESTORS' SUPPLEMENT. 2 L. [VOL. In the case of the Lake Shore the additional payment RAILROAD DIVID.ENDS FOR SEVEN YEARS. does appear, but simply because there had also been an Increasing railroad dividends have been quite a feature of the situation of late, and the FIN.ANCI.AL CHRONICLE of December 28, 1889, referred to the subject at considerjl,ble length. Since then there have been further additions, the latest being the Dr:,nver & Rio Grande, 1¼ per cent on its preferred shares, the Lake Erie & Western a first dividend of one per cent on pre-!erred, and the Cincinnati Hamilton & Dayton 1¼ on its -common shares. These changes give increased interest to our detailed record of dividends on shares sold at the leading Exchanges and brought down to the end of 1889. As showing the tendency towards enlarged dividends the Vanderbilt roads offer, of course, a conspicuous illustration. The New York Central recently declared one-half of one per cent extra (in addition to the customary quarterly dividend of one per cent), and the Lake Shore, the Michigan Central and the Canada Southern all have announced one per cent extra in addition to their usual semi-annual distributions. It is well to point out that as our figures below are made up so as to indi::late the actual dividends paid in each year, (not the amounts charged out of the year's earnings, which in many cases are not known till some time after the close of the fiscal years), the extra dividends on the New York Central, the Michigan Central and the Canada Southern do not appear in the table for 1889, since these extras are all payable in the current year. extra in the year preceding, payable in 1889. The new Cleveland Cincinnati Chicago & St. Louis is another Vanderbilt line that deserves mention. Regular 1¼ per cent quarterly dividends are being paid on the preferred shares, and a dividend of 1t per cent has also been declared on the common stock, payable this month. In the New Engla.n d section, illustrations of the same tendency are also to be found. The Boston & Maine is again up to five per cent semi-annual, after having paid only 4 per cent at two semi-annual periods, and the Eastern common, whose fortunes are connected with those of the Boston & Maine, gets ~ull 6 per cent. Going further away from home, there is the Northern Pacific, which paid 1 per cent on the preferred stock January 15, 1890-the first since the famous scrip dividend in 1883. The Canadian Pacific the coming- February will pay 2½ per cent for the half-year-1¼ per cent representing the usual amount from the guarantee fund with the Canadian Government and 1 per cent from earnings, the latter being the first payment in this way. The Milwaukee Lake Shore & Western, besides being up to 7 per cent on the preferred shares, has just declared an annual dividend of 7 per cent on the common stock. The Richmond & Danville is paying 10 per cent, the Nash ville Chattanooga & St. Louis 5 per cent, the Louisville & Nash ville 6 per cent in scrip, Norfolk & Western preferred 3 per cent, &c. DIVIDENDS ON RAILROAD STOCKS. Name of Company. NEW YORK. Albany & Susquehanna (leased) Beech Cr~e.k, pref .. •...•. .. •... . Belleville & So. ID. (leased),pref. Boston & N. Y. Air Line, pref .. Canada Southern .•••.••..••..••. Canadian Paotfl.o .....••..••.••.. Central of New Jersey..... . ••. Central Pacific ......•..•.•...•... Central :RR. & Bk. of Ga .•••.•.. Char. Col. & Augusta .••••••.••. Ohicaio & Alton ..•..••..••..•.. . o . pref .•....•.•... C'hicago Burlington & Quincy .. Chicago & Eastern Illiri.ols ..... Do pref...•...•..••. Chic. & Ind. Coal, pref ..•...•... Chicago Milwaukee & Bt. Paul. Do do pref. Chicafio & Northwestern ..•..••. o do pref ... · Chic. Rocklsland & Pao .••..•.. Chlo. St. P. Minn. & Om., pref .. Cincinnati Hamilton & Dayton. Do do · sref. Clnn. India.nap. St. Lotds & hie. Cincinnati N. 0. & Texas Pao ... -Cleve. Cin. Chic. & St. Louis ... Do do pref. Cleve. Col. Cin. & Indianapolis. Cleve. & Pittsb., guar. (leased). Col. Hock:u:iJ Val. & Toledo ..•.. Danbury & orwalk \leased) ..• Delaware & Hudson Canal ..... Delaware Lack. & Western .••. Denver & Rio Grande, pref..••. Detroit Bay City & Alpena ..... Dubu~ue & Sioux City ..••...... East enn. Va. & Ga., 1st pref. Erie & Pittsburg (leased) ..•.... Evansville & Terre Haute .••... Georgia (leased) ..••...•...... ~ •. Hannibal & St. Joseph, pref .••. Illlnols Central .••..•••.••...•.. Leased line certs .. no J ollet & Chicago (leased) ..•.... Keokuk & Western ......•.•••• • Lake Shore & Mich. Southern .. Lo~Island .. ...... ..••...•. .••. Lo ville & Nashville .••..••.. Manhattan Elevated .••. ..•..•.. )llchlgan Central. .••....••..••• . llil. Lake Shore & Western ..••. Do do pref. )llssouri Paotfl.o ..••..•••.••...•. llorris & Essex (leased) ..•••.... Nashv. Chattanooga& Bt. Louis New London Northern (leased). New York Central & Hudson ... N. Y.& Harlem incl.4thAv .RR.Common ..•......••..••...•... • Preferred ...•.• _..••..••...•... N. Y. Lack. & We11t. (guar.) ..• . N. Y. Lake Erie & West., pref .. Dividend Periods. Jan. Jan. May April Feb. Feb. and and and and and and 1883. 7 J~. J y Nov. Oct. .Aug. Aug. ...6¼ 4 2 219 119 6 719 · Fel:l. and Aug. June and Deo. ...8.. Quarterly-Mar. Quarterly-Mar. Quarterly-Mar. 8 8 Quarterly-Mar. Quarterly-Mar. April and Oct. April and Oct. June and Dec. ~uarterly-Mar. uarterly- Feb. Jan. and July. .. -. -.. -.... .. -.. ~ Quarterly-Mar. ··········-······· ···············-·· Feb. and Aug. Quarterly-Mar. Feb. and Aug. Quarterly-Mar. ~uarterly-Jan. an. and July I 1884. 7 ••.5¼ 4 2 5 41s 3 5¼ .l()(b) 10 (b) 8 ...... ---···.. ·--· ....... ···11-- ···,r· 7 7 8 7 7 7 7 8 7 7 9 6 3 3 ...... ·--2·· 7 21.g 2111 7 8 ...... -..... --.. --· ... -... ..................... ·--a·· Quarterly-Mar. Quarterly-Jan. Quarterly-Jan. ···11-·10· · 6 6 ...... -·-· ........ ...... . . "7" ·--2i; 7 8 ...... 1885. 1886. 7 7 5 5 4 ...5.. 4 ···s·· ··-· .. ·--a .. . --· .. ...8.. ···s·· 8 8 ... --....... . ..8.. ···s·· 7 7 6¼ 719 6 --· .... .-... ...... ...... ...... .... -- 434,(h) 6 1 ...7.. 133a stook. 5 6 7¾ ...... 7 6 7 7 6 6 4 5 414 --- ... . ..... ···1---·2i; ···1-·--if· 5 7 5 7 ··-··· 20 stock. 10 3 10 4 10 5 10 """,jig 7 7 4 ...8.. ...4.. ...6.. 3 ........ .---··· ..... 7 7 7 6 8 5 . ..4.. ···7·· 4. 7 2 . ..i¼ ...4.. ···11·· --·1·· ~uarterly- Jan. an. and July. Quarterly- Jan. Quarterly-Jan. Quarterly-Jan. 8 8 6 ...... . ..... ...... ···11-- 4. ---··· ... 7.. 6 7 7 6 7 5 7 ·--s-- ·--5-- 5 ···4-- Feb. and .Aug. Quarterly- Feb. -..... --·. -. -- -·- .. 8 8 . . ... ...5.. Mar. and .Sept. Jan . .and July. Quarterly-Jan. ··-· .. 7 5· 6¾ 4 21.g 3 ···4 .. . . .. .. . ..4.. 3 8 & 17stook. 4 7 juarterly-Jan. eb. and Aug. 1887. ·10" 4 7 ···a-···1·· 2 6 719 4 7 ...... ···a-- ...... ···4 .. --·a·· ·--------.. .··,; .. 7 1 6 ·--1n (e) 4 7 7 --·4·· 4 ···a-4 ·--1·· 7 7 4 6¼ ---- 7 5 7 21.g 6l\i 4 21s 3 634, - 4 219 3 3 2 ···2·· 8 4 8 8 5 8 2 8 8 4 t ..7¼ ·--;;9· 3 (a) 6 21.g 6 6 7 6¼ 6 . ..4 .. 5 ...... ...... ...... ···11-- ""4i;. 6 7 4 3 . . ··4 .. 2¼ (g) 3 . ..i¼ 2¼ l9 7 ...5.. . ..5.. 6 7 7 7 3:\ (d) ··--·.. ¼.. 4 ·--5·· .5 7 7 5 5 11 lOl!i ···1·· ···5~ 4 4 7 1 4 4 5 scJlp. 4 5 scrip. 4. 4 ...6 .. 7 7 --·5·· 5½) (C 4, 514 7 414 7 4 7 5 7 -- ---- -· 4 4. 4 4 Jan. and July. 8&2 8&2 8&2 8&2 Set 2 8&2 8&2 Jan. and July. 8&2 8&2 8& 2· 8&2 8&2 8&2 8&2 ~uarterly- Jan. 5 5 5 6 5 6 5 early-Jan'ry. 6 6 ...... .... --···· (a) Now consolidated with Oh1cago & Eastern Illmo1s. (b) D1videncla changed from semi-annual ~o quarterly in May 1884 (c) .All b:it 1 per cent of this in bond scrip. (d) 114 per ct. of this in scrip. (e) Also 5 per ct. in atock of Iowa Land & Loan co. also assets in treasury. (h) Dividend period changed from quarterly to semi-annual. (g) These two roads now consol. in the c. c. & st L t In Jan., 1888, old common stock was exchanged into new preferred. · https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 319 4 7 2111 1889. 1888. -··· ·- c: JANUARY, 1890,] Name of Company. INVESTORS' SUPPLEMENT. Dividend Periods. 1883. 1: 1884. ' 1885. 3 1886. 1887. 1888. 1889. ------1 - -10 - - -1- -10 --··io·· ·i"o·· 10 10 10 N. Y. New Haven & Hartford .. Quarterly- Jan. N. Y. Ontario & West., pref ..... (f) N. Y. Prov. & Bost.(Stoningtonl Quarterly- Feb. 8 Ilg 3 319 scrip. Norfolk & Western, pref ....... . Northern Pacific, pref ..•...•.. . . ..ii;i ···4ig 7¼ Oregon Improvement Co.. . ... . March and Sept. 3lg 7 do pref Do ...6.. ...6¼ ...4½(1t) ···1·· "i"o·· Quarterly-Jan. 6 7 Oregon Railway & Nav. Co ... . 6 Oregon & Trans-Continental .. . 9 9 Oswego & Syracuse (leased) ... . Feb. and Aug. 1 Pacific Mail Steamship .•....•... 3¾ 5 1¼ ·2s·· 9 ·13ig 16 10 Panama ...•...•.......• ...•..•.. ·1s·· ·16° 16 16 16 16 16 Pennsylvania Coal. .........•.. . Quarterly- Feb. 7 7 7 7 7 7 7 Pittsb.Ft.W.& Chic.,guar.(l'sed) Quarterly-Jan. 7 7 7 7 7 Do do special. . Quarterly--Jan. 7 7 7 7 Pittsb. Youngst'n & Asht. pref. ···oi;i Pullman Palace Car .••..••...... Quarterly-Feb. 8 8 8 8 8 8 Rensselaer & Saratoga (leased). .fan. and July. 8 8 8 3 Richmond & Danville .......... . 5 10 2lg Richm'd & West P. Term., pref. Jan. and July 5 5 6 6 6 Rome Watertown & Ogdensb'rg Feb. and Aug. ···1·· ···2ig 1¼ 1 St.L. Alton& T. H.(leased),pret 7 ···2ig 5 3 St. Louis & San Francisco, nref. April and Oct. ···1·· ···1·· ···1·• 7 7 7 Do do 1st pref. Feb. and AUK, 3t St. Paul & Duluth, common ... . ...7.. ···;·· ·--5~ ···1·· 3¼&i7·p;,stk 7 Do do pref ....... . Jan. and July. . 6 6 6 6 6 St. Paul Minneap. & Manitoba. Quarterly- Feb. 719 1 Tennessee Coal & Iron ......... . do pref .... . Jan. ana July · Do. . ..6.. 6 Terre Haute & Indianapolis ..•. Feb. and Aug. Union Pacific ....••...•........•. Quarterly-Jan. ···,; ·. ···;·· Warren (leased) ......•..•...•... April and Oct. 4 Wheeling & Lake Erie, pref .••. Quarterly- Feb. BOSTON. 6 6 6 Atchison Topeka & Santa Fe .. Quarterly- Feb. 6 6¼ 51' 8 & 313 stk. 8 8 8 Boston & Albany .........••...•. Quarterly-Mar. 8 & 10 stock. 8 5lg 5 5 6 6 Boston Concord & Mont., pref .. .May and Nov. 5 6lg 5lg 5 6 7 Boston & Lowell .............•. Jan. and July. 6 9lg 10 9 8 8 Boston & Maine ......•......... May and Nov. 8 ,r 10 8lg 10 Quarterly-Jan. Boston & Providence .......... . 8 8 8 6 6 6¼ 7 6 BostonRevere Beaeh & Lynn .. Jan. and July. 6 10 10 Central Branch Union Pacific .. 5 6 3 5 Cheshire, pref ..•............... Jan. and July. 2lg Ilg 2 3 4 3 Chicago & West Michigan .... . Feb. and Aug. 2 5 Cin. Sand. & Cleveland, com ... . 6 6 6 6 Do pref ....... . May and Nov. 6 10 10 10 10 10 10 Concord .................••...••. May and Nov. *10 8 8 8 Connecticut River ...•......... 9uarterly-Jan. 8 8 5lg 5 5 Connecticut & Passumpsic.pfd. I< eb. and Aug. 6 5 5 6 3 6 Detroit Lansing- & Northern .... Feb. and Aug. ···s½i ···5~ 7 7 7 Do do pref Feb. and Aug. 4lg Eastern, common ..•...••..... . . 6 Do do pref ---4~ ···4ig ···4ig 4lg Eastern, N. H. (leased) .......•. June and Dec. 4¼ 2 1 2 Eel River (leased) ............. . · April and Oct. 4 5-, 5 5 5 5 European & North American .. . April and Oct. 5lg 6 5 Fitchburg .............•....•... t5 ···2·· 2 Do pref . .•............•. May and Nov. ···;·· ---4¼ 5lg 12 7 Flint & Pere Marquette, pref ... Feb. and Au~. 5lg 5lg 5lg 5lg Ft. Wayne & Jack. pref (leased, Mar. · and Sept. 5¼ 3 Jan. a.nd July. 6 8 Housatonic, pref . .•.. . •...•..••. 8 6lg 218 (r) 7 Iowa Falle & Sioux City .••...•. 7 4 4 4 4 4 4 Iowa Railroad Land Co ... ... .. . May and Nov. 5lg 4lg 4 3 3¼ 3 Kans. City Ft. Scott & Memphis Feb. and A.ug. 8 8 8 8 8 8 Do do pref. Feb. and Aug. 7 7 7 7 7 Lowell & Andover (leased) .... . June and Dec. 7 6' 6 6 6 Maine C(:lntral. .... . ........••. . . Feb. and Aug. 6 5¼ 10 10 10 10 10 10 Manchester & Lawrence ..•.... . May and Nov. 4 Marg. Houghton& Onton., com. ...6.. ...6¼ •--6 -"""5ig 8 Do do pref. .. '7 •. 9 7 7 9 Nashua & Lowell (leased) ...... . May and Nov. 8 8¼ 7 7 7 7 New York & New England, pref. ".\fay and Nov. ---6-6 &··;,extra 6 6 6 Northern (N. H.) ............... . May and Nov. 6 10 8 10 8 8 9 8 N orwioh & Worcest'r pfd. (leas'd) Jan. and July. 7 7 7 7 7 7 7 Old Colony .................... . Jan. and July, 5 5 5 5 5 5 5 Pittsfield & No. A.dams (leased) Jan. and July. 5 6 6 4 4 6 Portland & Rochester. ........ . Jan. and July 6 6 6 6 6 6 6 Portl'nd Saco & Portsm. (leased) Jan. and July, • §12 10 6 6 20 (m) 6 6 Providence & Worcester .....•• . Quarterly-Mar. llg llg 1 1 1 1¼ Rutland, pref .................. . Feb. and Aug. 6 6 6 6 6 6 Vermont & Massachus'ts (l'sed) April and Oct. 6 6 6 6 Jan. and July. 6 6 6 Vermont VaJley ... . ...•........ llg 3 6 6 3 &17stock. 6 Worcester Nashua & Rochester. Jan. and July. PHIL.A.DELPHIA.. (8) 3 5 5 December. 6 5 7¼ Bell's Gap ...................... . 2lg 5lg 5 7 Camden & Atlantic, pref ...... . April and Oct. .• "7 .• 7 7 7 May and Nov. 7 7 7 Catawissa (leased), pref .•••..•. 7 7 7 7 7 7 7 Do new pref.....•..... May and Nov. 8 8 8 Delaware & Bound Br'k (leased) QuarterI~- Feb. 7¼ 8 8 8 6 6 Q 6 6 6 East Pennsylvania (leased) ..... .fan. and Jllly. 6 5 5 5 5 5 5 Elmira & Williamsport (leasedi . May and Nov. 5 7 7 7 Do do pref..... . Jan. and July. 7 7 7 7 7 7 7 7 7 7 7 Harrisb.Portsm.Mt.J.&L.(l'sed) Jan. and July. 5 2 llg 5 Huntingdon & Broad Top, pref. Jan. and July ...4¼ '""5ig 4 4¼ 6 5 Lehigh Coal & Navigation ..... . June and l>eo. 519 4 5 4¼ 6 5 8 Lehigh Valley .......... ........ . Quarterly-Jan. 8 8lg 7 7 7 7 7 Little Schuylkill (leased) ...... . .fan. and July. 7 7lg 7 7 7 7 7111 7 Minehill & Schuyl. Hav. (leas'd) Jan. and July. 5 '6 5 5 5 8 Nesquehoning Valley (leased) .. Mar. and Sept. 7 8 7lg 8 8 8 8 8 North Pennsylvania (leased) ... Quarterly- Feb. 8 &10 stock. 7 8 8 8 8 8 Northern Central ..•..••........ Jan. amt July. 5lg 5 5 8lg 5 7 5 Pennsylvania Railroad ........ . May and Nov. 12 12 12 12 12 12 12 Phila. Germant. & Nor. (leased) Quarterly-Mar. 10 10 10 10 10 10 10 Philadelphia & Trenton (leas'd) Quarterly-Jan. 7 8 8 7 8 8 8 Phila. Wilmington & Baltimore Jan. and July. 5 5 5 5 5 5 5 Schuylkill Valley .....••........ Jan. and July. 10 10 10 10 10 10 10 United Cos. of N. J. (leased) .... [ Quarterly- Jan. 6 6 6¼ 6 7 3 & 3 scrip. 3 & 3 eorip. West Jersey .................... . J'ltar. and Sept. 5 5 5 5 5 6 West Jersey & Atlantic . •••..••. Mar. and Sept. BA.LTI.MORE. 5 5 5 5 5 5 Atlan. & Char. Air Line (leased) Mar. and Sept. 8 10 10 10 . ..6.. Baltimore &Ohio-Main Stem .. May and Nov. 6 6 6 6 6 Do. do. pref. stock .. .•. Jan. and July. 10 10 10 10 10 10 Do. do. Was i. Branch. May and Nov. 6 6 6 6 6 6 Central Ohio com ... .•. . •••..... Jan. and July. 6 6 6 6 6 6 Do. do. pref ..•.......••. Jan. and July. 1 West Virginia Cent. & Pittsb ... 6 6 6 6 Wil. Columbia. & Augusta .••.•. Jan. and July. 8 8 8 8 8 6 Wilmington & Weldon ......••.. Jan. and July. (f) Covers two years' dividend11. (u) Owing to a postponement or some o.C the earlier diVidends, the payment of the last quarterly dividend for 1885 was thrown into .January, 1886, reducing the pflroentaize for 1885 to the figures here elven. t And 15 per cent in common stock. ("') fncreaso due to change of ,lividend neriod. (t) Common stock changed into preferred in this ye,i,r, and 3313 p. o. stock dividend paid. ,r .Also 321.g per ceut extu out of amount received from the Old Colony under the provisions of lease. t§) Dividend periods changed; 3 per ct. semi-annual was paid .Jan. and 1 lg quar. Mar. 31, and 2¼ quar. June 30, Sept. 30 and Deo. 31. (r) And 30 p. o. from assets. (s) 5 p. o. was declared, payable Jan. 1, 1889, and ls included in the 1889 figures. (m) 10 p. c. of this from assets. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ···s·· u=i·certf. ·--o·· ···o·· ·--o·· --·o·· ···o·· 0 ···s-- ···s·· ···s·· ···a·· ···s·· ···s·· .. ·o·· ···a-- ···o·· ···sig ···o·· Mar.· ·aiid ··sei>i: ···s·· Feb:. "aiid. ·Aug: ···tr· ···o·· .. ·o·· .. ·o·· STOCK AND BOND TABLES. N OTES. These tables art, expressly intended to be used in connection with the information concerning investment matters published from weeJc to week 1n the CHRONICLE-to which an index is furnished in the remarks on each page. Annual reports are in black-faced figures. The dividends as we give them in the remarks are those paid in the year named, or such as ha e been declared and will be :vaid in it. In many instances these dividends are l)aid in part out of the earnings of the precedin6 year, an<! hence it is that the divi dends appearing in connection with the earnings of a year often differ from the dividends paid In the same year. The !ollowin(I; will give explanations of eac~ of the columns of the tables below: .Ducriptwn.-Ra.ilroads leased are somet Imes given under the lessee's name. Abbreviations used are: M. for "mortgage:" s. f. fer "sinking fund " I. gr. for "land grant;" r. for "re~stered;" c. for "coupon;" c. ~ for "coupon but may be registered;" c. & r. for" coupon and registered;" br. for "branch;" guar. for "guarant eed;" end. for "endorsed." Date of Bond-s .-The date of issue 1s referred to in this column. Jlilu of Road.-Oppostte stocks, this means the miles of road operated; opposite bonds, the miles covered by the mortgage. Bue or Par Value.-Theae figures are dollars, showing the denominations or par value. The figures "100, &o.," signify $100 and larger. Bate Per Otnt.-Tbe interest per annum is given for bonds, but the per cent of last di vidend for titocks; f!.. means gold; x, extra; s. stock or scrip. When Payable.-J. & J. stands for Jan. & July; F. & A., Feb. &Aug.; M. & S., March & Sept.; A. & o., A.pril & Oct.; M. & N., May & .Nov.; J. & D., June & Dec.; Q.-J., quarterly from January; Q..-:-F. , quarterly from Feb.; Q.-M., quarterly from March. Bonds, principal when rlue; Stocks, last dimdend.-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 . UNITED STATE8 BONDS. DESCRIPTION. u of 1907, coup. and reg., incl. refund. certfs. .f.¼s of 1891, coupon and registered . ••••••.•••. 'S per cents, Navy P ension fund . ••.•••...••.••• . Currency 6s, issued to Paciftc railroads .• • .•••. r Author- Size or A m ount par izing Act. outs anding, v alue. Jan . t1,189 . INTEREST. Rate. When pay' ble - - - --- Where patable and by w om. 1870 &'71 $50&c. $629 795,700 4, coin. Q.-J. U. 8. Treasury & Sub Treas. 1870 & ' 71 do do 50&c. 121 367,'iOO 412, coin. Q.-M. do do JW.r, 1868 50&c. 14 000,000 3, coin. J.& J . J 'y 62&' 64 lOOO&c. J. & J. U . 8. Treasury. 64 623,512 6 All the Government bonds except the currency sixes are r ed eemable n coin, the sort of coin not being specified. The fours an d four and a halfs are issued in bonds of $50, $100, $500 and $1,000, b oth coupon and re¢stered issues, and the regist er ed bonds also in p ieces or $5 ,000, fl0,000, $ 20,000 and $50,000. The United States curren cy sixes are p ayable in "lawful money," all registered, issued in pieces of $1,000, $ 5,000 STATE Princi~al-When ue. July 1, 1907 Sept. 1, 1891. 1895-6-7-8-9 'and $10,000, and m ature as follows: $2,362,000 Jan. 16 $640,000 Nov. 1, 1 895; $3,680,000 .Jan. 1, 1 896; $1,320,0JO 1, 1896; $9,712,000 Jan. 1, 1897, $29,904 ,952 J an. 1. 1898, and $14,004,560 J an . 1, 1899. The inter est on registered bonds is mailed by check direct ly to t he h older s or to any address r equested by t he r egisternd holder s. 1 1895; I 1 F eb. SECURITIES. Subscribers will confer a great favor by giving IDlllledlate notice of any error discovered In these Tables. DESCRIPTION. ...labama--Bubstitution bonds t> ($7,000,000). Bubstitut'n b'dsfor RR. (Bl ( 596,000) ..•..... do for Ala. & Chatt. (C) ($1,000,000) New bonds, to retire 6s of 1880 . . .. ••..••..•• . ...Bonds rkansas-Bonds issued to St ate Bank ...••. .• • . to R eal E state E ank,letters''A" & ''0" Date of Bonds. 1876 1876 1876 1~90 1838 . 1838 Funding bonds of 1869 ..•...•..••••••••• ••••• . 1869 Funding bonds of ''i'O (ex clusive of Holford's) 1870 Sinking fund bonds reissued in 1888 .••... . •.. 1875 1870 Fonding bonds 1870(Holford) Levee bonds (or warrants).... not recognized 1870 B'ds to railr'ds,Ar:k. Cent.,&c. 1870 1873 0 aliforni a--Funded debt bonds, redeemable .... 1883 0 onnecticut-Bonds (sink. fd.) not taxable ... c&r Bonds, do do ............... . .. r 1884 Bonds, conp. orreg .••...•...•..•••.••••••.•••. 1885 Bonds registered (redeemable at will) ••••.••• r 1887 1881 Delaware.-Refund'g bds., series "B" & "0" ... Bonds, redeemable after June 1, 1895 ....•••. 1885 Bonds .. ..•..•• . .••• . ••.....•.••.••••.•••.••••••. 1887 1881 School bonds, held by school fund . - - .. - - . - - - . Lat. of Oolumbia-- Perm't imp't, gold ..••.••• . c 1872 Permanent improvement bonds .•..... • •..••. c 1873 1879 Bds for fund'i (Act June 10, '79) ..••..•.... c&r 1874 Fond. bds.(U. -~ActsJ'ne,'74&Feb.,'75)c&r Market stock, f n~fund, notdra.wn .•• . c&r 1872 Wat'rst'kbds. s.f. ($1 ,OOOdueJulJ;1· 1903).c 1871 to'73 Wa.sh.fund'g,g. ($604,lOOM.&N., ov.,1902). 1872 · a-State bonds .••.••••••••.••. •••..••.... c 1871 ~ Consol. gold bonds ............................ c 1873 1870 fleorgia,-Quar. ~- bds.,act of Sept. 15, 1870.c&i· Bonds, act of an. 18, '72 ................. c&r 1872 Bonds to fund coupons on endorsed bonds.c&r 1876 1885 Fundinfhbonds, Act Dec. 23, '84 .••..••.. c&r Refund g bds., $100,000 y 'rly '98 to ' 16 _c&r 1888 State University Bonds .••..••..••...••.••• •. . r 1882 & '83 1885 l ndiana--Tempor'y loan bds, red. aft. Mar.1 , '90 1885 Refunding bonds ..••..••••••..••••••••••.•••••• 1885 -State House bonds . . .••...•. . . •..••.•••••••..••. Temp'y loan, redeemable aft. A.£ril 2, 1894..r 1889 Temporary int. loan, red. after pril 2, 1891.. 1889 1887 " " redeemable now .••.•••. I ,, Size or Amount Outstanding ~ar alue. $100&0. $6,747,000 1,000 539,000 1,000 953,000 .... 954,000 .... 108,000 573,000 i,ooo so9,ooo 1,000 1,000 507,000 1,000 904,550 100 &c. 1,986,773 1,000 5 ,350,000 500 &c. 2,638,000 1,000 500,000 1,000 1,000,000 1,000 1,740,000 1,000 500,000 1,000 215,000 1,000 120,000 1,000 2 50,000 156,750 500&0. 2 ,886,650 443,900 100 &c. lOO&c. 870,400 50&c. 14,033,600 50&c. 44,900 1,000 369,000 100 &c. 1,493,500 100 272,100 lOO&c. 774,700 1,000 2,098,000 500 &c. 307,500 1,000 542.000 1,000 3,392;000 1,000 4,041,000 254,000 600,000 .... 585,000 500,000 .... 700,000 370,000 .... 340,000 } ---· ·--· ---· ---- Alabama.-Tbe "A" bonds bear 5 per cent after 1896. Analysis of the funding of 1876 was given in the CHRONICLE, v. 24, p. 28. The .assessed valu.ation of real estate and personalty in '83 was $158,518,157; in '85 $172,528,933-tax rate, $6 per $1,000; in '87, $214,925,~69-tax rate $5 50. In 1889 total valuation $242,197,531; tax rate, $4·50. Arkansas.-Total undisputed debt May 1,'89,was,principal, $1,997,100; interest overdue, $2,770,795; total, $4,767,895. The State Supreme O;lurt decided Levee bonds of '69 and '70 lnvalid; nor are the Holford or the Railroad Aid bonds recognized by the State. In Jan., '83, a decision was made by the U.S. Circuit Court, substantially holaing the RR. Cos. responsible for the State bonds issued to them, but this was reversed a.nd the case appealed to U. s. Supreme Court. The State has been in default on interest payments since '41, but under act of '87 overdue coupons were made exchangeable for certificates of indebtedness, which are receivable for certain dues. Assessm'nts and taxrateper$1,000have been: Real Estate. Personal. Tax Rate. :J.885 .. --- -- •................. $82,273,095 $52,133,530 $1 1887 • •••.•••.•••.••••.. •••••• S0,760,142 57,499,512 5 1888 . . • •.•••. ·······--· · · " " 94,502,469 59,017,574 5 Clallfornla.-Tbe State holds in trust for School and University funds ,2.359,000 bonds of 1873, leaving only $279,000 in private hands. A.lisessed valuations and rate of tax per $1,000 have been: Years. Real Estate. Personal. Tax Rate. 1887 ---·--·· ---·-······"' $789,980,601 $165,475,238 $6·08 1888 •••••••. ...... • .... . •. b34,433,605 172,672,722 5·04 1889 •••. ····---· .. ---·---· *940,929,14.3 170,661,836 7·22 ~ d e s railroads, $40,488,652. Oonnectlcut.-Tbe debt of Connecticut was all created originally for war purposes. Assessed valuation and tax rate per $1,000 have been: - Years. Real Est. & Personal. Tax Rate 1885................ .... .. $349,177,597 $2·00 1886...................... 349,725,7°48 1·25 1887, r•••••••••••••••• • ••• 352,795,928 •••••• Tile assessed valuation of real estateiB about 70 per cent of the true value. -<Vol. 44, p. 808; V. 47, p. 226) Delaware.- Of the issue of '81, series "B" were redeemable July, '86 to '91; and series "C'' redeemable July, '91, to 1901. In addition to above °'83,000 is due Dela. College. No State tax 1B levied, nor a.ssessm'ts made. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t Rate. INTEREST When Where P,Mable and by horn. Payable Princiial-When · ue. -4 - --to 5 J. & J . 5 4 4 6 6 6 6 6 6 7 7 6 g. 319 3.lsl 3 31g 4 4 3 6 6 g. 7 5 3·65 7 7 6 g. 7 6 g. 7 g. 7 7 4¼ -.¼ 7 312 312 319 3 .3 3 N. Y., Am. Exch. Nat.Bk. July 1, 1906 do do July 1, 1906 do July 1, 1906 do do J an. 1, 1920 do Jan. 1, 1868 1 $306,000 } IRter-1 I 1 ,604,25:'i est Oct., 1861 July 1, 1899 } 817' 090{ due&l Jan. 1, 1900 un43,450 paid. July 1, 1905 Repudiated. 1900 J. ·&-·J. Repurliated. 1900 Repudiated. 1899 & 1900 A.. & o. ,1. & J, Sacramento.Treasury. July 1, 1893 Hartford, Treasury. Jan., 1903 J. & J . do do Jan. 1,1903 J. & J. do Oct.1, 1910 do A. & O. do May 1, 1897 K.&N. do J. & J. Phila., Phila. Nat. Bank. Jul.'11, '91 & 1906 do do une 1, 1905 J. &D. do do June 1, 1907 July 1, 1906 J ..&.J. Wash. or N. Y., U. B. Treas. July 1, 1891 do do July 1, 1891 ,J. & J. do July 1, 1899 J. & J . do do Aug. 1 1924 F. &A. do do do July 26 1892 J. & J. do do Oct. 1, 1901 & '03 J. & J . do do J. & J. Julfil,1892 &1902 Jan.I N.Y.,ParkBk.&Tallahaesee an. 1, 1901 J. & J, do do Jan. 1, 1903 Q.-J. N. Y., Fourth National Bk. Oct. li 1890 do do J. & J . Jan. 1892 do do J. & J. July 1, 1896 J. & J. New York & Atlanta. July 1, 1915 do do J. & J. Jan., '&8, to 1916 Various do do 1932-33-34-35. M . & 8. N.Y.,Winslow, Lanier & Co. March 1, 1895 do do A. & 0 . April 1, 1895 do M.& N. do May 1, 1895 do A. & 0 . do April 2, 1899 A. & 0 . do do April 2, 1894 A. & O. do do April 1, 1892 J. J. J. J. J. J. J. J. & & & & & & & & J. J. J. J. J. J. J. J. J --·· District of Columbla.-Interest and sink'g fund on the 3-65 bonds are provided for by Congress; the amount is limited to $15,000,000. Real and personal estate, &c .• assessed as follows: '85, real estate, $93,491,· 891; personal, $12,715,686; tax rate, $15; in'87, real estate, $112,300,000; personal, $12,000,000; tax. $15 per $1,000; June, '68, real estate, $115,485,353; personal, $11,728,672; tax rate,$L5. Florlda.-Tbe sink. funds Feb.,'88, held $228,200 bonds, and school. &c.. funds held $407,300, leaving outstandinj!; $411,300. Coupons of all bonds are receivable for taxes. Real and personal property assessed in '88, $ 55,008,560, tax rate $4 per $1,000; in '84, $60,042,655; tax rate $4. Assessment in '86, $76,611,409; tax rate, $4. In '87 real estate, $ 66,908,163; personalty, $19,357,499 tax rate $4·50 per $1,000. In 1888 tax rate, $4. Georgta.-Totaldebt Dec. 31, '87, $8,734,500. After '87 State pays off $100,000 annually. The constitutional amendment in 188 I declared v oid several issues of bonds and railroad endorsements. The 4½1 f.· o. bonds of 1888 were sold to take up other bonds maturing in Jan., 89. Tax rate in 1887 $3·77 per $1,000. Assessed valuations have been: Years. Real Estate. Personalty. Railroads 1885 .•••.••.••••.••• $179,946,059 $119,200,739 $23,000,294 1887 .••..••• ........ 188,912,217 127,693,112 24,899,592 1888 . • -· ..•.. --- .. -· 195,61.6,435 132,246,896 29,304,127 -(V. 46, p. 771.) Indlana.-Of the tempora,ry loans held by banks $680,000 are pay able at plea~ure before maturity, and $600,000 (due 1895) at will after 1 890. Tbere a.re 11,lRo outstanding $340,000 5 per cent bonds due 1901, held by Purdue University; $144,000 State University bond held by T1·easurer. and ab out$ l 7,000 miscellaneous issues of bo nds. Valuation f ur 1888, $821,512,980; tax: rate, $2·80. Valuation for 1887, $794,696,) 597. Total debt Oct. 31,'88, $6,770,608. (V.48, p. 527,828; V.4;},p. 300. Kansas.-Kansas has but a small State d ebt,but tht'issue of municipal bonds was estimat ed at about $25,000,000 Jan. l,'88. Population in '84, 1,135,614; in '87, 1, 500,000. Valuations 1s of true value) have been: Years. Real & P er. Prop. Tax per $1,000. Tc1t. Debt. 1 886•. .•. -- -. ••..••.. . •..••. . . $277,113,323 $1 10 $830,500 1888 .... . •• •.•••. -- . .••.. -- ... 353,248,333 4 10 815,000 1889...... •• . • • • • • • • . • • • . • • • . . 360,815,073 4 20 813,000 JANUARY, INVESTORS' SUPPLEMENT. 1890,] Sub•crlber• will confer a r;reat f'avor by giving Immediate notice of' any error dl•covered In the•e Table•. DESCRIPTION. Date of Bonds. For explanation see notes on fl.re{ page of tables. - Size or ~fue. Amount outstanding. - - - - --- Indiana-( Oontinued. )- .••• Temporary interest loan, redeemable now .••. . 1888 $340,000 1889 •••• 3,905,000 8ohool fund refund'g bonds, red. June 18, '99. 813,000 lramas-Bonds ($557,000 held in State funds.). 1866 to '75 $100 &c 1884 1,000 500,000 Kentucky-Bonds, gold .•••.••.•••••••••••••••.••. 1866 1,000 174,000 Mllitary bonds .................................. 43,ll!'i 1853 500 Louisiana-Relief or State Treasury and miecel. 1,000 162,000 Bonde in aid of various railroads ...••..•••.••• 'isio 1,000 80,000 Bonds to Boeuf & Crocodile Navigation Co ..• 1869 1,000 260,000 do to Mississi~pi & Mexican Gulf Canal.. 1857 1,000 48,000 do school, hel b~St. Treasurer .••..•••.. 1870 1,000 70,000 do to N. Orleans, obile & Chatt. RR ••••• 1871 1,000 2,500,000 do to N. Orleans, Mobile & Texas RR .••... 1869 N. o. Mob. & Texas RR. bonds, end. by State 1,000 875,000 1874 100 &c. 11,845,400 Consolidated funded bonds (stamped 4 per ct.) 1880 287,650 do Constitutional bonds of 1880 .••. $5 &c. 1880 1,386,444 "Baby" oonds and coupons, overdue .....••... . 1889 2,560,000 .lfai~.-New bonds ............................. r .... Jfaryland-Railroads and canals ............... r 1838-47 309,485 •••r 1839 31,069 Eastern Shore Railroad ....................... r 1837 269,000 Baltimore & Susquehanna Railroad...••..••. c 1839 62,605 Annapolis & Elkridge Railroad ..•..••...••... r 1882 3,000,000 Defense redemption loa.n .•••.........•....••. r 1878 500,000 Treasury relief loan, 10-15 years..••..•••..•. c .... 1886 1,898,829 Exchange loan of 1886..••..••.••••.••....••. r .... 4,200,000 1889 do do 1889 t$4,381,067) tax free, gold . ... Massachusetts-Bounty Fund Loan, gold ... c*&-.. 1864 500 &c. 4,379,500 1864 £100&0 4,022,649 do do sterllng,g ..•....•..••. c*&r 447,718 Tr. & G. RR ••...•...•..••..•••.••...•..•• . c ... &r 1858 to'61 £200&c do home, $216,500 due Apr.,'91.C..&!' 1861 to'63 500 &c. 1,366,500 3,618,242 do do eterl'g.. c*&r 1871 £200&c. 1,506,182 1875 £500 do do sterl't·c*&r do do gold, d'rb' c*&r 1873 to'74 1,000 300,000 do do gold, do c*&r 1875 1,000 1,300,000 do do gold, do c*&r 370,000 1877 10,000 200,000 1860 Southern Vermont Railroad Loan, goM. .. c*&r 5,000 3,618,729 Boston Hartford & Erie Railroad, sterl'11:.. c*&r 1868 to'69 £200 300,000 Harbor La.nd Improvement (5·20s), gold c*&r 1874 &'76 1,000 1,500,000 Danvers Lun.Hos.($900,000 due '94),g'd.c*&r 1874 &'77 1,000 1,100,000 Lunatic Hospital, Worcester, gold ..•••... c~&r 1875-'76 1,000 1,299,355 1875 £500 New State Prisons, sterllng .....•.•••.•••. c*&r 1888 Various. 815,000 Armory bonds, gold ..•....•• ...• . ••••.• ., ..••. r 1889 2,500,000 State House Construction Loa.n ...••...•...•. r 229,000 ichigan,-War Bounty Bonds .••..••......•..... 1865 i."<>OO Minnesota-Adjustment bonds, (10-30,red.'92).c 1881 3,965,000 1,000 Missouri-University and Lunatic Asyl'm bds.c 1872 1,000 185,000 24,000 Penitentiary indemaity ....................... c 1,000 ····-· 1874 80,000 State Bank stock refunding .••...•....••.••... c 1,000 428,000 Bonds to Platte County Railroad ....••....••. c 1859 to'60 1,000 1874 617.000 Funding bonds ................................. c 1,000 do 5·20 years ...................... c 1886 & '87 1,000 7,000,000 659,000 Hannibal & St. Joseph Railroad, renewal.. .. c 1874 1,000 3,134,0GO State school fund certificate of inde"lt .••••••. . 535,000 St .te Seminary certificate of indebt .•••••.••. llel>raska,-Bonds (act Feb.14, 1877) .•.•..•... c* 449,267 is11 i,ooo New Hampshire-War loan, coupon bonds .••••. 1864 1,000 150,000 1872 2,206,100 100 &c. ~~~ffsftFoi-°:!1rmia:iiig;$iOo;ociodue·y;rii 1879 300,000 1,000 Prison loan, $14,000 payable yearly ...••...•. 1879 1,000 28,000 New Jersey-War 10an bonds, taxfree .•••.•••.•. 1863 100 &c. 702,900 do do taxable .•••..•.••..••.•••••••. 1864 593,400 100 &c. 1875 100 &c. 473,000 New Y<YrkCanal debt, { Under Art. 7, Sec. 3, of Con- { 1873 3,683,200 100 &c. ;reg. stock. stitutlon. 1874 100 &c. 1,986,000 Niagara, Park Loan bds. (held in trust funds). 1885 1,000 600,000 --· .... .... ---· ··-· --· Rate. .... INTEREST. When Where pahable and by Payable w om. Princial-Wh• ue. A. &O. N.Y., Winslow, Lanier & Co. Aprt l, 1893 do di,) J. &D. June 18, 1909 J. & J. N. Y., First Nat. Bank. July 1, 1894 to 'll J. &D. N. Y., U. 8. Nat. B nk. June,1905 J. &D. Jan., 1896 J. & J. 6 Jllly, 1893 Ky. Various 05,000 6 1872tol906 J. & J. 80,000 Amounts not 8 Jaa. lifo\890 7·30 M. &S. 260,000 fundable, Various 6 1897 48,000 yer report of J. & J. 70,000 an. 1, 1888. July 1, 1910 8 A.. & o. 2,500,000 Aprll, 1911 8 875,000 8 J. "&"J. N. 0. & N.Y., Wins .. L. & Co (7) 4 Jan:·i: 1914 J. & J, 4 do do .Tan. 1, 1914. •T. & J. 3 Last paid Jan., 1885. Overdue, 1886 J. & D. Augusta, Me. 3 1890to 1929 Q.-J. Bait., Farm. & Merch. Bk 5 1890 A.. & o. do April 1, 1890 do 5 Quart'y do 3 1890 do A. &O. do April 1, 1890 6 do 3·65 J. & J. do do Jan. l, 1899 J. & J, do 1 6 do do & 3 do J. & J . 3 g. J. & J . After .July 1, 1903 5 g. M.&N. Boston, Treasury. May 1, 1894. 5 g. M.&N. London, Baring Bros. May 1, 1894. 18".'0 5 g. Various do do Boston, Treasury. 5 g. Various April, 1891 & '93 5 g. J. & J. London, Baring Bros. July 1, 1891 5 g. J. & J. do do Jan.1.1895 5 g. J. & J. Boston, Treasury July ], 1894. do do 5 g. J. & J. July 1, 1895 5 g. M.& 8. do Sept. 1, 1897 do 5 g. A. &O. do do Alril 1, 1890 London, Baring Bros. 5 g. J. & J. an. 1, 1900 5 g. J. & J. Boston, Treasury. Sept. 1, 1896 5 g. Various Boston, Treasury. Jan.l,'94•8ep 1,'ff 5 g. Various do do M'y 1,95-811,'96 95 g. J. & J. London, Baring Bros. & Co. Jan. 1, Boston, Treaaury. Sept. 1, 18 M . &8. Boston, Treas. Office. 3 April 1, 1909 A. &O. May 1, 1890 7 M.&N. N. Y.,Am.Ex.Bk.;Det.&La'g Jan.1,1912 4¼ J. & J. N. Y. City, First Nat. Bk. 6 J. & J. N. Y., Bank of Commerce. Julr. 1, 1892 do do 6 Avril 1, 1895 J. & J. do do April 1, 1894 6 J. & J. do do A.ug., etc ,'89 &'90 6 J. & J. do do 6 J. & J. July, 1894 & '9& do do 1906-7-8 3¼ J. & J. do do 1894-5-6-7 6 J. & J. 3 3 ,11.~r~ 7 tg· 1 f~&o \\t\ g .... .... --· .................. .... . N. Y., Kountze Bros. A. &O. Apriri: 1897 8 Sept. 1, 1889 M.& 8. Bost., Bk. Comw'lth & Con. 6 do do Jan., '92 to 1905 6 J. & J. do do J. & J. July 1, 1890-'91 5 do do Jan., 1890 & '91 5 J. & J. J. & J. Jersei; City and Trenton. Jan., 1890 to '96 6 o do .Jan., '97 tol901 6 J. & J. Oct., 1, 1893 6 g. A. &O. N. Y., Manhattan Co. Bank. do do 6 g. J. & J. July 1, 1891 do do Oct, 1, 1892 6 g. A.. & o. 2¼ J. & 'J. State Comptroller·s Office, $100,000J'yl,y'ly , Kentncky.-A.~ainst the bonds as above the sinking fund held $723,235, Sept., '88. Valuation in 1884, $377,888,542. In 1886, personal, $95,654,572; real estate, $293,204,320; in 1888, personal, $131,· 18i,404; real estate, $361, 184,4.04; tax rate, $4. 75 per $1,000 · Lonl•lana.-Jan. 1, 1888, total adjusted bonded debt was $12,014,• 050; floating debt (including baby bonds, etc.), $2,797,123; old bonds fundable at 60 ver cent, $94,115; "ld bonds not fundable, $3,953,000. The constitutional convention of 1879 respectingtbe State del>t passed an ordinance providing that interest on the consolid'l,ted bonds should be paid at the rate of 2 p. c. for 5 years from Jan. 1, 1880, 3 per cent for the ensuing 15 years and 4 per cent thereafter; also, that hold· era might exchange their bonds at 75 cents on the dollar for new bonds •b earing 4 per cent interest (the so-called constitutional bonds), but only $217,650 of these new bonds were issued. In 198! an amendment to the ordinance was ratitled, fl.xlng the interest on the console at 2 per cent tor 5 years from Jan. 1, 1880, and 4 per cent thereafter (doing away with the 3 per eent altogether>, and providing that the reduced rate should be stamped on the bonds and coupons. This took effect Jan. 1, 1885, and since then no distinction has been made between the consti· utional and consolidated bonds, both being called console. The baby bonds were issued to fund certain obligations of charitable institutions. A suit by the State of :rs ew Hampshire against Louisiana, as assignee o:t: 'her bonds, was decided in favor of Louisiana by the U. 8. Supreme Court. In Sept. , 1889, it was discovered that a number of bonds had · been fraudulently issued. Part of them were subsequently recovered, -1>ut $373,600 console so issued ($303,600 of these being console of 1874 and $70,000 constitutional bonds) are still outstanding. They are so included in the table abeve, but the State considers them" null and void." In 1889 assessed valuation was: Country parishes, $94,331,095; parish of N. Orleans, $129,268,905; total, about $223,600,000. (V. 49, p. 373, 434, 616.) lffalne.-The debt January 1, 1889, was $3,935,400; sinking fund .assets, $1,200,000; net debt,$2,735,400. The new 3 .per cents were .authorized to retire bonds due June, 1889. They fall due $50,000 yearly 1890 to 1901, then $70,000 yearly 1902 to 1911, then $78,000 yearly 1912 to 1921, and $90,00:> yearly 1922 to 1929. Tax rate for 1885·6, -$3·75 on valuation of 1881, $235,600,000; in 1889 $2·75 on same valuation. (V. 48, p. 389,452; V. 49, p. 540.) iffaryland.-Total funded debt Sept. 30, 1889, $10,370,535; sink• •l ng fund assets, $1,620,096. The State has largel:v assisted canals and railroads and holds $5, 154,43 3 of stocks and bonds ranked as product• Ive; the State also holds $28,858,738 in unproductive securities, which includes $26,177,460 on account of Chesapeake & Ohio Canal. The •• Defense Loan" is secured by a special tax of 512 cents yearly-. In 1889 total valuation was $477,39?,880; State tax rate, $1·775. In 1888, valuation $490,016,183; tax rate, $1 ·775. -(V. 48, p. 828; V. 49, p. 52.) Ma••achnsetts.-The funded debt, Jan. 1, 1890, was $28,251,287; .sinking funds, $21,010,532. The Hoosac tunnel and connections, which https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I cost the State heavily, were sold in 1887 to Fitchburg RR. Cities in this State are allowed to incur permanent debt to the amount ot 2½1 per cent of average valuation of the three preceding years. Years. Real Estate. Personal Prop'ty. Total Debt. Sink.Funds. l884 ........... $1,258,452,712 $829,339,811 $31,42:-J,680 $17,731,725 1886 . . . • • • • . . .• 1,340,493,673 839,409,214 31,429,680 18,964,412 1887 -~--- ..••• 1,407,660,036 901,865,934 31,429,680 25,151,517 1888 . Oft•....... 1,460,520,022 28,851,619 23,235,608 Mlchlgan.-The debt is oractically extinguished, as the sink:l.ng fund a.as sulficteuli assets to pay the bonds. 1'Ilnnesota.-Minnesota refused for some years to recognize the "State Railroad Bonds" of 1858, to the amount of $2,275,000, but a compromise with the holders in 1881 was carried out by the issue of the 4¼ per cent bonds. Sinking fund assets .Aug. 1, 1889, about $1,994,210. Iu 1888 assessed valuation was: Real estate, $454,677,586; personal property, $122,626,000; tax rate per $1,000, $1·70, 11Il1111onrl.-Total State debt Jan. 1, 1889,was $13,197,000, including school fund and 8.eminary certltlcates of indebtedness, $3,672,000. The tax rate is $i per $1,000, $2 being for interest and sinking fund and $2 for revenue. All surplus revenue goes to sinking fund .Monds maturinll in '88 were funded in 5-20 year bonds or paid fr@m sinking fund. The following is a statement of the assessed property in this State. 1885-tax of '86, 1886-taxof'87. 1887-taxof'88. .Real estate ..••..•.•••. $518,803,118 $519,71i'l,078 $552,945,906 Personal property.... 181,133.128 182,070,408 185,474,007 Railroad property, &c. 46,444,836 49,346,327 51,271,162 Total .............. $746,381,081 $751,387,813 $789,691,14.5 Nebra•ka.-The State schoolfund holds $326,267. Assessed Valli· atton of real estate, personal, railroad, &o. (3313 per cent of true value, and tax rate per $1,000, have been : Years. Valuation. Tax Rate. 1887 .......................................... $160,506,266 $8·12:lti 1888 ..• ~ ...................................... 175,815,355 7·50 New Hampshlre.-The debt of New Hampshire was created for war purposes. The Municipal loan of 1872 was issued to cities and towna, the proceeds to be applied to their war debts. Total valuation in 1883 $227,914,M3; in 188!, $231,340,088; in 1887, $241,843,617; tax rate tor State purposes nearly $1 ·66 on $1,000 of valnation; average tax rate far all PUIIP0Ses, $ L3·80. New .Tersey.-The debt was oreated for war purposes. Valuation ot real and personal property (taxable) was $603,676,953 in 1888. '565,500,687 in 1885; $554,828,114 in 1884; $548.495,069 in 1883. New York.-Niag-araloan b'ds are held by State in its tru ~: funds. The sinkin"' funds Oct., ·as, amounted to $4,07 d, 129. The new Capitol build• ing has cost the State thusfar $17,914,875,paid for bytaxaliion. Yalua• ttons and State tax rate per $1,000 in '8 7 and rorfour years previous were; INVESTORS' 6 SUPPLEMENT. [VOL, L, SubscrlberM -will conCer a great Cavor by giving bn1nediate notice oC any error discovered in these Tables. DESCRIPTION. For explanation see notes on first page of tables. Date of Bonds. ·--· 0 ··-· 1 Rate. INTEREST. When Where P ayable and by Payable Whom. Principal-When due. - - - --,---~ ----- ---- ----1-----------1-------- North Oarolina-Fd. b'ds (coups. tax-rec'ble).c* 1880 Old bonds fundable into 4 per ceots ......... c• No. Car.RR. construct. bde. fd. intonew6s.c• Refunding N. C. RR. bonds (tax receiv. cpe:)c* is19 RR. bde. (Chatham and W.&T.) . ... . not { Penitentiary bonds ........•....•... reco is 68 B;pecial tax bonds (in 3 classes). .... nize8. Ohw-BoJ.: ds (pay. $250,000 yearly July lJ .... Pennsylvania-Rei bonds, tax fr. (red'ble '92).r is11 Reg. bonds, tax ., due 1904, red. after 1894. 1879 Loan of 1 882 ($1,754,900 are 31.gs) .••....•. . r 1882 do. {in 10 ser.) ........ .. •...............•. 1882 1872 Agricultural Colle!e land scrip ........•.•..... Bhoae Island-War onds .........••.......•.. c* U63 War bonds . ...... . ........... .. ... . .......... c' 1864 Bouth Oar.-Conv. bds.,actMar.23,'69,notfund. State House bonds and stock ... · fu ndable 1853.to '61 Various old bonds and stock..... into brown 1866 Blue Ridge Railroad bonds...... consols. 1854 Consol. brown and green (st-e remarks) ..•..••. 1874 Refunding bonds and stock (blue) ............. 1888 Agricultmal College scrip, one piece .......... J'ennessee-1:<'und. bonds, act of 1873 (red.at 100) isi4 Bonds registered, act of 1873 .................. Various. Held by K T. University (not to be funded) .. Compromise bonds (act of 1882) .............. iss2 New setllement 3s (act of 1883), red. at 100 . 1883 New settlement 5s & 6s (act '83), red. at lOO .. 1883 1872 J'exas-FundingState debt 1act May 2, 1871).··· Defense,gold, act Aug.5,'70(red.aft..Au~.5. 90) 1871 1872 Revenue deflcienc; bonds, act D ec. 2, 1871.. Bonds, act Mar., 1 74 (for paying :float'g debt) l874 Redemption of debt, act Aug. 6, '76 .... ..... .. 1876 Bonds, act April 21, 1879 ...................... 1879 Virfcinia--Old bonds, funding rate 69 p. c ...... 1851 to '66 0 d bonds sterlin~, fundini:r rate 69 p. c . ..... . 1851 Consol. (act Mar. 71), funding rate 53 p. c .c 1871 do do do do r 1871 1871 do (act '72) "·Pealer,•· fund. rate 69 p. c.c do do "Pealer," do r 1~71 Deferred certificates (W. Va.) ..•.............. 1871 1C-40s, act March 28, '79,tund. rate 60 % .c&r 1879 do do sterling, fund. rate 60 % 1879 "Riddleb'r" b'ds, 18-50s, acts '82. & '84 . . e&r 1882 Tax-receivable coups, incl. those of Jan., '89. .... I Size or Amount vi~e. outstanding. $50 &c. $3,127.521 1,896,300 500 &c. 1,000 188,000 1,000 2,607,000 1,000 1,180,000 1,000 44,000 1,000 11,366,000 2,790,000 lOO&c. 4,430,500 100 &c. 1,802,900 50 &c. 6,861,100 50 &c. 749,600 500,000 584,000 1:000 1,000 699,000 5,965,000 148,693 1:000 50&c. 245,086 50,0(10 1,000 500 &c. 5,973,226 500 &c. 400,000 191,800 1:000 2,006,000 1,000 1,000 397,000 500 &c. 473,000 100 &c. 12,474,600 100 &c. 1,386, 300 65,200 499,000 1:000 1,000 467,000 1,000 288,000 1,000 1,647,000 100 &c. 1,068,900 500 &c. 1,587,922 £100&c 476,061 100 &c. 12,958,200 100 &c. 1,199,614 100 &c. 295,700 524,800 Various 12,961,530 6,015,300 . . -· 254,400 lOO&c. 7,771,281 4,900,000 1 .... 4 6 6 6 6 6 6 3 5 4 3½&4 4 6 6 "6 ..6. 6 g. 6 g. 6 41.g ( ..6. l 5&6 6 3, 4, 5, 6 3 5&6 6 7 g. 7 g. 7 g. 6 g. 5 6 5 6 6 6 6 6 3 to5 3 to5 3 .... J. & J . Various Various A. & 0. N. Y., Nat. Bk. of Republic. J uly 1, 1910 Cps. since July '68 unpaid. 1868 t o '98 Raleih, State Treasury. 1884 to '85N. Y. at Bk of Republic. April 1, 1919 Cps. sinceJ~'68 unpaid. 1868 to '98 A.·& ·o. Coup. of Jan.' 9&sinceunp. Oct., 1898 A. &O. Cps. A & 0'69 & Ap '70 unp. 1898 to '99 ,T. & J. N. Y., Nat. Bk. of Republlc. July, 'SO to 1900' F. &A. Phila., Farm. & Mech B'k. '92 to Feb.1,1902 F. &A. do do '94 to Aug.1.1904 F. &A. do Feb.1.1912 do F. &A. do do 18{\0, '91 & '92 Harrisburg-, Treasury. Feb. 1,1922 J .. &.J. Providence, R.I.H. & T. Co. J uly 1, 1893 F. &A. do do Aug. 1, 1894 18,l coupons last paid. 1888 J. "J;· J . Columbia, State Treasury. 1871. etc. , to '89 Various do do U-87 to 1897 do J. & J. do ,T'lyl ,'75'6,'7',8'9 J. & J . N. Y., Nat. P. Bk. & Colum. July l , 1893 J. & J . July 1, 1928 ·····-····-· Julyi"," i914 J. .&.J. ····-······· J. & J. 1892, '98, 1900 J. & J. Nashville, Treasurer. Various. J. & J. Jan.I, 1912 July 1, 1913 J. & J. N. Y., Winslow, Lan. & Co. J. & J . do do July 1, 1913 Various State Treasury. March, 1892 M.& 8. New York, Bank of N. Y. Aug 5, 1910 J. & J. do do April, 1892 J. & J. J an. 1,1904 do do J. & J. NewYork&StateTreasury. July 1, 1906 J. & D. 1 do do J _uly 1, 1909 •T. & J . 1886 to '95 . . ... . J. & J . 1886 J. & J. Coupons tax receivable. July l, 1905 July 1, 1905 J. & J. do do J. & J. Coups. not tax receivable. July 1, 1905 do d-, J, & J. July 1, 1905 J. & J . Oontmgenli J . & J. Coupons tax receivable. 1919 1919 J. & J. do do Richmond, Treasury. July 1, 1932 J. & J. -----·------ --- --· - .... . -... -...... . ..... Real estate. Personal. State tax. State debt. ture of 18g3 repealed this law and passed a new one adjusting the debt 1873 , .... $1,692,523.071 $437, 1')2,3l5 $6·95 $36,530,406 on the basis of new bonds at 50 per cent of the face value of old, and 1888 ..... 3 ,122,588,084 346,6ll,861 2·62 6,965,355 bearing 3 per cent interest; the old State d ebt proper of $2,ll8,000 was 1889..... 3,213,171,201 35 J,258,556 ..•• . ... made au exception, and new 5 and 6 per cent bonds were issued for that North Carolina.-Total adjusted debt Jan. 1, 1889, was $5,010,- at the face value. The compromise bonds of 1882, being 3, 4, 5 and 6 171. The funding law of March 4, 1879, provided for the issue of 4, per cents, are fundab le into the new settlement 3d, at five-sixths ot per cent bonds due in 19l0 to fund old ante-war bonds at 40 per cent of the face and interest, u p to and inclusive of July, 1883, coupons-thus face value; "New" r ailroad boncts recognized as valid at 25 per cent, $1,000 compromise bonds receive $858·33 in new 3s, and interest since and bonds of 1866 and 1868 at 15 per cent; nothing being given for July, 1883, paid in cash. All the settlement bonds a1·e redeemable at overdue coupons. Coupons of the n ew bonds are receivable for taxes. o_ption of the State after July 1, 1888. Assessed valuatians and tax rate The term for funding ended, but has been continued till July J., l890. per $1,000 have been as follows: Under act of March 14, 1879, the old North Carolina RR. construction Real estate. Other property. Railroad prop'ty. Tax rate. bonds were made exchAngeable for new 6 per cent bonds due in 1919. 1884 ..••. $200,212,900 $26,63l,284 $34,350,170 $3·00 lntereston these bonds is met by dividends on the $3,000,000 stock of 1885 .•••. 20l,097,500 25,651,803 31,547,582 3·00 the road h eld bythe State, the road being leased to the .Richmond & 1886 ... •• 200,llS,265 24,790,9l4 3l,547,582 3·00 Danville at a 6 per cent rental. 1887 ..••. 211,267,498 28,282,583 32,361,855 3·oo In the d ebt settlement the special tax bonds were ignored; also bonds 1888 ...•. 254,126,350 43,078,70! 32,290,302 3·00 to Chatham RR., 1868, $1,030,000, and to Williamston & Tarb. RR., Texas.-The old hi~h-rate bonds were redeemed and lower interest $150,000, and the Penitentiary bonns under acts of 1868. The special tax bonds issued. Total fuuded debt Aug. 31, 1889, $4,237,730, of which bonds are in 3 classes, class 1, bearing the coupon of April 1860 and all but $ l,220,630 1s h eld by school. college and 9tsylum funds. Assessed since; class 2 of Oct., '69; olass 3 of Aprtl, '70. Holders of the special valuations and rate of tax (including school tax, $ L·~5 and poll taxes tax bond '! have brought suit to establish the validity of tb.ei bonds $1·50 in 1888) per $1,000 have been: and t he case, on a divided opinion of tw.o judges in the U. 8 Circuit Years. Real estate. Personalty. Total val'ation. Ta.xra.te Court, is now in tlre U. 8. Supreme Court on appeal. 1885 ..•• $375,890,59-i $245,12l,395 $621,011,989 $3·75 Assessed valuation of r eal estate is about 60 per cent of tru Talue. 1886 . .•• 379,3!)2,988 251,132,135 630,525,123 3 ·75 Valuations and tax rate per $1,000 have been: 1887.. .. 401,897,497 245,514,904 6;'.>0,412, 401 3·75 Years. Realestate. Personalty. Totalval'ation.Tax~ lll,000 1888 ..•• .441,076,925 240,007,979 681,08!,901 3·75 1885 •··· • .$1 2 6,955,679 $82,6l3, 4 l 7 ·jlz ·5 o Virglnta.-The old bonds two-thirds fundable and the sterling $:?0~, 569,096 2 202 444 1 35 733 2 5 1886 •· •··· 26,883,38 75,561, l , , bonds caeey coupons from July 1869, except the years .187 2-3-4. The · o 211 ,9 4 -!, 271 1887 • •·· ·· l<!0,5 4 5, :396 71,398,8 7 5 Z·OO consols of 1871 carry coupons of J an. 1875 and siuce. The 10-40s carry 4 ·0 5 1889 &'9U ··• · ·· ······ ···•···•·••• ···· · •· ·· •• J an. l881 aud since; but the consol. and 10-40 coupons being tax5 5 8 -~ii.f!:~_-07Jii!;h~s~ s£at~1~~· o£.y !:Ju1\t,3fi,i&i·,>but lar~e local receivable, these bonds are generally sold with matueed coupons ~ off. The first funding law of March, 1871, allowed holders of debts, amounttng Jan. 1, '90 to $60,2 2f;,l 21 , a;; st -$ 2 5, 9 57,588 in 1875 , bonds to fund two-thirds of their debt into new 6 per cent bonds, bearthis increase being mainly in city debts. Valuations in Ohio have been in~ coupons receivable for taxes, and recEiivmg for the other one-third Real estate. Personalty. Real estate. Personalty. f h · ri i 1 , d f d tifi t "t b h d t u, t v· ini 1885.$1,160,165,882 $509,913,986 1887.$1,185,010,625 $520,172,09-l O err P nc pa a' e erre cer ca e, 0 ec arge O nes rrg a. 0 1 8 1886. 1,173,106,705 515,569,463 1888. 1,200,0o4,195 531,994,601 ~:d~cfs~~e1 ~e;!ec!t!1e~i!:PJ~s.~la~iee trt~u~~6hafadwt!~ -State tax rate per $1,000 for 1888, $Z·90. March 28, 1879, authorized the 10-40 year bonds, bearing 3 per cent; Pennsylvanla.-Total funded debt Jan. 1, 1889 (including that not for 10 years, 4 per cent for 20 years and 5 p er cent for 10 bearing mterest), was $14,738,911; sinking fund assets $10,062,607. years,. coupons tax-receivable. In F ebruary, 1882, the RiddleQerger Revenue is raised principally from corporations. Taxes are levied on law ror re-adjusting the debt and the laws familiarly known as personal property, which was valued in 1887 at $401,000,000. The "Coupon killers," were passed (see V. 34, p. 88.) The Riddleberger rate per $1,000 in 1886, 1887 and 1888 was $3. · act provided for the issue of new bonds, dated July 1, 1882, Rhode Island.-The debt was all created for war purposes. In into which all others could be funded at the rates specified in the table January, 1889, the net debt, less sinking fund, was $5213,358. The above, coupons also being fundable at certain r ates. This law, how8tate valuation of real property up to 1889 was $328,530,559: tau rate, P.ver, was a.mended and all bonds offered for funding are now required in 1888, $1 40 on sn,ooo. to carry the coupon of July, 1885, no allowance being made for inSo11th Carolina.-Total funded debt Oct. 31, 1889, was ahou ~ terest maturing between Jan. 1, 1885, and date of surrender of bonds. $7,04\J,727. This includes, however, as do the consols in the table '.rhe Supreme Court of the United States has three times passed on the above, $618,161 greenconsols, some of which arepartiallyinvalitl, their Virginia laws, and while sustaining in theory the principle that the aggregate invalidity being :t,487,850. The valid percentage of these tax-receivable coupon law constituted a contract with the bondholders, 'tainted bonds" and all the other old issues included in the table, ex- the court has so far upheld the subsequent laws that the coupon cept the conversion bonds of 1869, th~ deficit ncy bonds and stock and clause bas been to a g1·e11,t ex:tent defeated. (:3ee CHRONICLE V.48, p.291.) agricultural scrip, are funda.ble into brown consols. Invali iity is not A movement was begun in 1885 to procure an adjustment ot tbe found except in the green con sols (some of which, additional to those "Deferred" bonds or certificates by the Legislature of West Vir~inia mentio_:ned above, are en tirely l~valld), in the conversion bon~s, and and the holders of some $3,000,000 deposited their bonds witn the the 2a issue of the bonds " to pay mterest on the public debt," which last f Farmers' Loan & Tr. Co., and the certificates of that Co. were listed ai 1 s wholh" invalid. The funding law of Dec. 23, '73, provided for scaling the Stock Exchange. down the old debt 50 per cent. The consols were again ·• re.J.djuste,t" Total funded debt Sept:. 30, 1883 (excluding deferred certificates), n 1879. The several acts were passed Dec. 3, 1873, Dec. 24, 1878 , was $31,321,978, but of this the State itself held $2,409,256 of the Deo. ~4, 1879, a nd F ebruary, 1880. i l"su es prior to l88Z, and tbe sinking funds held $2,357,577, the Board Years. Real estate. Personalty. Railroads. T ax rate . of Public Work s $17;3,900, and the Library Fund $1,179,127 of t he 1884-85 ... $:!7,559,538 $16.904,705 $15,263,366 $5·50 Riddleher ger bonds, con sequently the total of bo~ds helfl by the publio 1'885-86.. . 86,114.852 42,836,288 15,521,(J41 5·25 was $25,202,118 . .ARsessed valuations have been as follows: '88-89 .. abt.84,515,944 43,531,027 17,243,373 Years. H.ealEstate. Persona1ty. Total. Tax Rate -(V. 46, p. 471, 803.) 1884 .... $239,826,000 $88,974,040 $328,800,040 $4:00 Tennessee.-The total adju sted debt Dec. 13, 1888, was $13,854, · 1885.... 256,916,140 84,884,270 341,800,410 4·00 900; total bonds fundable, $2,489,000. A funding law was passed (act H .-86. .. . 257,533,-14 0 83,783,180 341,316,620 4·00 of May 20, 1~8z,, giving new bonds at tiO per cent of the 1887 ..•. 259,857,960 82,377,4::10 342,215,390 4·00 p>.'"•'l<' 1Ja.... and mterest of old, the new bearing 3 per cent in 1882-93 1888 (est) 299,251,019 97,460,306 396,711,325 4·00 4 f!ll 1886,.,. 5 till 1888, an_d 6 per cent _1888 t o 1912, _and]-(V.44,p.451,49f>,527,572,627,730;V.45,p.512,768,847;V.48,V,29 1118,224,351 r, . . t 1let;e compromise bonds were issued. The Legisla- v . 49, p. 540.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tl I ~!J!f1~ JANUARY, '1 CITY SEUQRITIES. 1890.] Subscribers will conCer a ,r;reat Cavor by glvlna; bnrnedlate notice or- any error dlacovered In these Tabn,•• DESCRIPTION. Forexplanations see notes on fl.rat page of tables. 4lbany, N. Y.-Purchase Congress Hall Block. . City improvement. ............ . ................ Washington Park...................... . ....... . New Post Office site. .. . .......... . .... .. ... . ... Water d ebt {$389,000 due 1900-3, are 7s)... .• . New City H a ll.................................. :Public Mar ket.............................. . ... Broadwa y Improvement .... . ...•.....••.••• Bonds loaned to Albany & Susquehanna RR. . J..tlanta, Ga .-Bonds for streets, floating debt... Bonds for A.. L. Railroad and State House.... Bonds for West. RR. and floating debt ........ Bonds, lat and 2d series, waterworks......... Redemption bonds........ . . . . . . . • .. . . . . . . . . . • . $52,000 only due 1915 .... do Honda to f u n d floating debt {part each year).. <Japitol b onds.. . ................................ Redemption bonds . .........• . ...............•. Aupusta, Ga.- $24,500 are 4½s, due 1916 ....•. Baltimore-Consolidated loan of 1890 ......... r Water loan, stock, red. at will after 1916 .... r Fundin~ loan, stock, tax free .• .•...••..•.... r Consoliaated bounty loan ....•...•. . .....•.... r Exempt b ounty loan .........•...•.... •....... r Public parks (Druid Hill) .•••.•••. • ••••.•••.•• r Park improvement loan ........ . .............. r Pattecr~tonHPallrk extension ..•.......•...• • ..•. r N ew 1 y a ........ . .•..... .. ... . ........ .. . r Date of bonds. Size or A.mount 1-------IN_'l'_E_R_E_S_T_._ _ _ _ _- 1 Principal-When par outstanding. Rate When Where payable and by Due. value. · Payable whom. ---•----------- ------ 1866 1870-'71 1870-'82 1874 1874-'88 1882 1888 1888 1865 1867-'72 1869-'70 1870 & '72 1874 1877 1881 & '85 1879 1884 '86-'87-'o9 Various. Various. 1877 1878 1863 1865 1860 1863 . ·o· ·,•• 187 - 7 4 $1,000 1,000 1,000 1,000 1,000 1,000 ...• .... 1,000 500&c. 1,000 500 &c. 1,000 500 &c. 1,000 .••• .... 1,000 100 &c. 100 &c. 100 &c. 100 &c. 100 &c. 100 &c. 100 &c. 100 &c. · · ·&·c. 100 R~! ~~a-ii:::::::::::::::::.:::::::::::::::~ ½~~i ½88....f~: 0 "$5,000,000 l oan-non•t ax . (Act of 1888).. . .•. 1889 Jones'F alls ($957,000 are 5s&$455,000 3·65s)r 1872-'84 do ($100,000 ar e 3 l') .. .. ...... . ... . r 1885-'88 Water loan ($263,000 only are 6s) ..•......... r 1874- '89 Harford Run Improve,$250,000 due af.1920 .r 1880-8 Western Maryland Railroad ........•..••...•. r 1872 do do loa n . ...•......• . . r 1882 do do . _•...•........... . r 1887 Endorsement s for W estern Maryland RR .... r 1870 do do Union Railroad ..........•. r . . . . .. Bangor, M e.-City debt proper . • •• . . . . . . • . . . . . . . 1872 ='lti~J ?o~~~~::::::::::::::::::::::::::::::: Water loa n b onds, coup. (.Act Feb. 22t 1875). 100 &c. . lOO&c. 100 100 &c. 100 &c. 100 500 &c. . ... 1,000 5 rn~~ ~?ot8· 1875 500 &c. Europea n & North American Railroaa........ 1869 1,000 Bangor & Piscataquis Railroa d............. . . . 1869 500 &c. Bath,Me.- ·Fund. debt ($78,000 are 5s,'97, J.&J.) . ... .. Various. Knox & Linc<1ln RR .. for stock and coupons Various. Androscoggin RR. (guar. by Maine Cent. RR. . ·is6i Va rious. Knox & Lincoln Railroad ($23,750 each y ear) 1869 Various. do do (F.&A.. and M.&S) . . 1871·'72 Various. RR. r efunding , $100,000 4½is d ue 1907........ ... ... . ... Bo,ton-City debt and Charlestown . . .....•••..•. 1864 to '80 1,000 City debt r egistered............................ 1878-'82 .... do $ 550,000 due Oct., 1906 ..••...••.... 1885·86·89 ..•• do $8 0,000 due Jan. 1, 1896. .•. . .••••. 1885 •... do $ 311,000 due July 1, 1905 . .......... 1885 ... . do $145 .000 due Oct. 1, 1897 . ••.•...••• Various. .... Ten•yea r lo an, secured by a. f ...••. . ...••..•. r 1889 l,OOO&c Suft'olk Co. CourtH'se b'ds sk.fd, notd'n. .. c&r 11888-'89 1,000 do do $800,000, due Oct., 1919 l :;87•88·89 ..•. do do $17,000 pay. y'dy,Oct.l 1885 ..•. West Rox bury, $25,000 payable yearly....... . ... . ... Burnt district, sterling loan.................... 1873 £100&e Consol. street improvem't loan,dra.wna.tlOO 1870 £100&e Park bon ds, $455,000 4s, due 1918..... .. .... 188i·'88 1,000 do do sink. fund, $769,000, due 1899. r 1889 1,000 Miscella n eous loans, sinking flmd. ••• . . . . . . • . 1889 1,000&c Mystic water debt, assumed, part renewed .. . 1862 to ' 86 1,000 C vcn. Water loan, 6 per cent .....•...•...•..... 1867 to '71> ..•. do do 4 per cent . . . . . . . • . . . • . . . . • • . 1878 ...• do do Sterling . .................... 1872 £100 &e do do 5 s, g ..... .....•..••....•..... 1875-'7G do do 419 per cent. . ... . . ... ••. . . . . 1879 do do 4s $280,000 due A.pril,1910 1879-'80 do do 4s $336,000 due Oct.1 ,1913 1883 to '88 •••• do do 319 p er cent ......••..•••..• . V.'84 to '90 ..•• do do 3 p er cent.... ..•....• ....•. 1887 100()&0 Stony Brook improve't, secured by skg. fd . .. r 1887 ,BJ-oo,i:tyn-Brooklyn local improv ement loa n. . . 1861 1,000 ~oldiers' a id fund loan, part e a c lJ. year.. . ..... 1865 1,000 1,000 Bu.shwick a.venue,&c.improvement loan,local 1865- '66 BouthSeventh st. do do do . • • • . . 186::i 1,000 $78,000 390,000 1,058,000 115,000 l,83i,OOO 145,000 185,000 170,000 1,000,000 349,000 300,000 318,000 427,000 77,500 120,500 260,000 55,000 188,000 1,744,880 7,306,546 5,000,000 1,000,000 2,211,068 410,353 555,566 185,723 200,000 1,500,000 500,000 800,000 500,000 2,212,000 260,000 5,100,000 600,000 1,000,000 684,000 1,704,000 875,000 117,000 50,000 30,000 100,000 500,000 1,000,000 925,000 178,000 124,000 425 ,000 , l 5 310 900 374 ,300 7,345,500 10,735,000 1,499,000 109,000 912,000 212,000 4 :W,000 764,uOO 1,700,000 782,000 50,000 4,997,600 2,651,424 1,355,000 1,219.000 1,037,000 839,000 4,897,000 588 ,000 1,947,274 3 ,563,000 268,000 686,000 2,115,000 1,020,000 200,000 500,000 213,000 234,000 17,000 16,000 6 7 -l, 5, 6, 7 7 3 ¼4,6&i 4 4 4 6 8 7 8 7 8 5 6 6 419 412,6 & 7 6 5 5 6 6 6 6 4 6 4 6 312 3·65,5&6 3 & 312 4, 5 & 6 4 6 4 314 6 6 7 4 6 6 6 6 &7 412&5 6 F. & M. & M. & M. & F. & J. & A. Boston, Merchants' Bank. 1890 to '9• 8. New York. '90 to 1900 N. New York and Albany. 1910-'21 N. N Y., Merchants' Nat. Bk. May 1, 1904 A.. do do 1890 to 1912 J. do do July 1, 1905 to '10 .... ........ ..•. Albany, J. & J. J. & J. ;T. & J. J. & J. J. & J. J. & J J. & J. J. & J. J. & J. Vartom, Q.-J. M. & N . M. & N. M. & S. M. & S. i-M. .-J. .-J. Q.-J. M. & N. Q.-J. J. & J. Q.-F. Q.-F. J. & J. J. & J. J. & ,T. .... J . & J. J. & J. J. & J. Various M . .& N. J. & J . J. & J. J. & J . A. & O. M. & 8 Various A. & 0. J. & J. Various J . & J. Various Various Various 6 6 6 4&419 6 4 3¼ 314 3 · Vario·us 5 Various 4 J. & J 4 A. & 0. 319 A. & o. 3 A. & O. 7 VarioUR 5 g. A.. & 0. 5 g. J. & J. 312 & 4 J. & J. 4 J . & J. 319 A. & O. 314 to-6 Various 6 Variouee 4 A. & o. 5 g. A.. & O. 5 g. . .•• 41gg. A.. & O. 4 g. A. & 0. 4 Various 3¼ Various 3 A. & O. 4 A.. & O. 7 M. & N. 7 J. & J . 7 J. & J. 7 J. & J. 5 l . ...... . ... . .••. 1895-'97 N.Y. Han.Nat. B'k & A.tlan. J. & J ., 1892 do do July, 1890 do do Jan. 1, 1902 do do Jan. 1, 1904 do do Jan. 1, 1897 do do 1911-1915 do do Jan., 1890 to 1896 do do Jan. 1, 1914 do do July 1, 1916 Augusta, Treasury. 1889 to 1919 Balto., Farm. & Plan. Bank. After July 1, 1890 Balto., Nat. Mechanics' Bk. After July 1, 1916 do do After July, 1916 do do Sept. 1, 1893 do do After Sept. 1,1893 do do .After Sept. 1,1890 do . do Jan. 1, 1895 do do Oct. 1, 1920 do do 1900 and 1902 Balto., Nat. Mechanics' Bk. Af+:er Nov. 1, 1920 Balto., Farm.&Plan. Bank. After July 1, 1900 ..•. . .•. July 1, 1928 Balto., N . Mechanics' Bank. April 9, 1900 do do April 9, 1900 do do A.ft'r'94, 1922 &'26 do do 1904 & after 1920 do do Jan. 1, 1902 do do July 1. 1925 Balto., Farm. & Plan. Bank. Jan. 1, 1927 Ba.Ito., N.Mechanics' Bank. Jan. 1, 1900 Baltimore, Franklin Bank. Jan. 1, 1895 Bost.,Merch.N.Bk.&Bang'r, Sept. 1, 1892 do do Nov., 1889 to 1891 do do Jan. 1, 1894 do do July 1, 1905 do do Jan. 1, 1894 do do April 1, 1899 Bos.,Nat.H.&L.B'k&Port. 1897&1902 Bos.,N at.B'k of Com.&Por t. 1898 Boston, 2 d Nat. B 'k & Port. Jan. to Oct. 1691 Bos.,N at.H.&L.B'k&Port. 'July 1, 1890to'99 do do 1891 & 1902 do do 1902-1920&1907 Bostoni Treasurer's Office. Apl. 1890 to 1897 ao do 1891-1914 do do 1896 to 1919 do do 1895 & 1916 do do 1895, '96 & 1905 do do 1897 to 1900 do do Jan. 1, 1899 do do 18 t~~ & 1918 do do Oot.1919&'37·'38 do do Oct., 1935 do do June, 1890 & 1891 London, Baring Brothers. April, 1893 do do July 1, 1899 Boston, Treasurer's Office. 1917 & 1937 do do Jan.1,1899&1919 do do Oct. 1, 1899 do do July, 1890 to 1916 do do 1897 to 1908 do do Avril 1, 1908 London, Ba.ring Brothers. Oct., 1902 Bostoni 'l'reasurer's Office. 1905-1907 ao do O ct. 1, 1909 do do 1909-1912 do do 1913-1918 do do Var. 1914 t o 1920 do do April, 1917 do do Oct. 1, 1917 } id ,¾i.i,i iit()~b . Nov., 1891 ~:P=lt,fi-<o ~ Jan. 1, 1891 to'9' ~ :;:j.!11 ~ f Julyl, 1890 o~ ~~~ .i~E-1 l July 1, 1890 M. & N. N. Y., Del.& Hud. Canal Co. I Albany.- Total debt Jan. 1, 1889, was $5,057,000, of ,qhich $1,884,· 1 eluding w a ter w orks, $ 8 25,500; tax rate, $21 ·60. In 1887 , real e state, 000 w as water debt. The loan to A.lb. & Susquehanna is secured by $6,771,048, personal, $2,858,872; tax rate per $1,000, $22 50. fl.rat mort . The v aluation of A.lb any City in '86 was: Real esta te, $60, 728,· Bath, Me.-The city holds a fl.rat mortgage on the Androscoggin rea d 7 20; personal, $6,154,270; tax rat e per $1,000, $18 40. In 1887 real for tne deb t, and first, second and third mortg'es on the Knox & Lincoln estate valuation was $61,245,455; personal, $6,326,900; t ax r ate- for i ts proportion of $89/'i,OOO out of a total 0!"$2,395,000bonds issued by lat rate, $17 6 0; 2d rat e, $7 60. Pop'n, 90,758 in 1880; 69,422 in 1870. se ver al cities in aid of the latt..erroad. T a.x valuation in 1 8 87·88 was: Atlanta.-The total b onded d ebt J an.1. 1 888, wa s $2,220.000. A.a· R eal eat at,e, $2,870,415; per sonal, $3,226,245; t a x rat e, $23 per sessed value of r eal estat e in 1885, $21,023,370; personal, $7,889,269, $1,000. T a x: valuation in 1888·89: Real estate, $2,886,8 95; personal, tax rate p er $1 .000, $15. In 1887 real e state, $24,933.064; p ersona H $3,227,075; tax rate per $1,000, $21, Boston.- The population of Boston in 1880 was 362,839; in 1870, $7,304,703; t ax r ate, $15. Assessed value between 50 and 75 p .c. o r r eal• Population, 37,409 m 1880; 21,789 in 1870; about 67,000 J a n . 1, 1888· 250,526, against 177,840 in 1860. The gross debt on Jan. 1, 1890, Augusta.- Taxable valuation in 1889: R eal estate, $1 5 ,402,853; waa $51 ,185,741 (including city debt proper, $30,807,467 · county ~rsonal, $5,010,828; tax rate per $1,000 <State tax, ~4·00; County, debt , $2,446,000; Cochituate water d ebt, $15,476 ,273 ; Charlestown, $3·30; school, $ 2·30; city tax proper, $12·50), $ 22 ·10. In 1885: R e al West Roxbury, etc., debt, $1,617,000), and the total sinking funds, e state, $11,4 6 8,310; personal, $5,088,430. Pop ula tion in 1870, 15,389; etc., applicable to tt, $22,863,953 leaving the net debt $28,321,78 8 ·r he law of April 17, '85, limited the taxation in Bosten for city pur• in. 1880, 21,891. Baltlrnore.-Waterloanis paid by income otwater works, and Pub• poses to $9 on the average valuation of five years preceding, to which licPark by City Passenger Railway, and against a total debt of $36,· 1s added the tax for city debi and for State purposes. The net debt is 038,516 the city is chargeable with interest on only $1~,985,69~, and not to be over 2 p . ct. of average assessed valuation for five yea.rs. A.e • holds prod u ctive assets, including the sinking funds, equiv alent t o sessed valuation on May 1 for five vears has been: Real Personal Tax Net Debt. $14,757,6 83, leaving on Dec. 31, 1888, only $4,295,140 d ebt over Estate. Estate. Rate. Dec. 31. inter ~st-uearing assets. The "productive securities·" here include Years. $194,526,05'3 $17 00 $24,766,06' $3,250 ,000 common stock of B . & O. RR. There are also h eld $8,676,· 1884 ..••.••• $488.130,600 193,086,500 12 70 26,354,396 600 of unproductive ·secu rities. Population in 1870, 267,354; in 1880, 1886 ..••..•• 517,495,200 200,454,600 13 40 27,627,5S9 332,313; in 1 888 (police cen susHncluding t he Belt, 416,805. Assessed 1887 ..••...• 547,170,300 1888 . . . . . . .. 563,013,300 201,439,273 13 40 26,850,90 ' valuat1on, near t h e full cash v a lue, aud tax r a te h ave been : 201,606,300 12 90 28,321,788 Real Personal Tota l R ate of Tax 1889 .... .... 593,810,400 · Years. Estate. Prop erty. Valuation. per $1,000. -(V. 50, p . 37 .) Brooklyn.-Thewholecity debt was as follows Jan. 1, 1890 and '89 : 1883 . ..• • $1S9,9n,494 $58,889,7 3 8 $248 ,803,232 Jan, 1, 1890. Jan.1, 1889. 1 886 .. ••. 200,775,614 6 1,784,338 265,5 59 ,9 5 3 $28,867,703 $25,800,703 Permanent del'.lt ..•.••••.••. ••••.•••...•• 1888 .. . .. 203,752,853 63.763,871 t267 ,516,7 24 *20·75 12,2 32,500 11,682,500 * T ax rate includes: State tax, $1 ·75; school an l city t ax, $ 19 ·00 ; Water loan . .•............ •. .•..•••.••...• 353,000 419 ,000 tot al, $20·75 per :n,00 0; city tax for 1889, $ 19·00 . t Of t h is $ 2,168,- D ebt payable from assessments .•••.••• S,000,000 2,500,000 T a x certificates . • • • . . • • . . • . • . • • . . . . • • ••• 6 81 is exemp t ar, present. (V. 49, p. 788 ) Ban gor, 1ue. -'l'he loans to Eu. & No. A.ru. R.R. t o Bangor & Pis . R . $44,5 03,203 $40,4 0 2,203 R. are Aecured b y first mortgages on those, r oad s, and interest full v paid Gross d ebt ...•..•.. •• ... .. .•• .• ••.••• 9 ,8 63 ,6 61 8,828,7 82 from the earnings. T otal funded debt Mch . 1 3, '89 , $2,6 05,00 0, lncl. Less sinking fund . •••..• •.• •• .. •...• •.••• $5-00,000 w ater debt. The valuations (near f ull v aJ.ue) iI, 'tl8 were: Real - --·$34,639 ,5 11 $ 31,573,421 e sta te, $6,865,155; personal, $2,90 8,427 . Municip al property, in• Nft debt . .... .. . ........ ........ .... . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ------- - - ---- - --· INVESTORW SUPPLEMENT. 8 (VOL, L. Subscrlben 'Will con.l'er a ep-eat filvor by giving Immediate notice oC any error discovered In these Tables. DESCRIPTION. Date of - - - - - - - - - - - - - - - - - - , Bonds. Por explanations see notes on first page of tables Size or Amount par outstanding. Value. Rate. INTEREST. When Payable Principal-When Due. -----11---- ----1-----------1------- $102,000 6 & 7 J. & J. ) ( July 1, 1890 to 'S5 1,000 3,000,000 7 J. & .J I July, 1899-1924 1,000 1,250,0GO 7 J. & J. 1905, '6, '7 & '8 1,000 3,333,000 6 J. & ... 1908 to 1919 1,000 2.2i9,ooo 5 1. & J. 1917'18'19'23'25' 1,000 2,383,237 4 J. & J. ,... 1921 '2 '3 '5 '6 '7 '8' 0 • 1,000 8,019,000 7 J. & J. 10~ 1915, '6, '7, •e, •241 1,000 1,217,000 6 J . & J. -; A--g ~~ f July 1, 1924 1,000 11,573,500 3, 4, 5, 6 J. & J . ► i:i.::, ~ ~ 1891 to rn1e; .••• 600,000 3 J. & J . <11-;; ~ Jan. 1, 1909 . ••. 2,500,000 3 J. & J. 8 '§! ~ ~ 3 years from date. •••. 705,305 3½1 & 4 J. & J. zi:q i:.+:>E-1 1905 •••. 549,000 4 J. & J. o0 July 1, 1924 •.•• 2,350,000 3¼ & 4. J. & J . July, 1923 & 1924 •••. 200,000 4 J. & J. July 1, 1893 ..•. 1,000,000 3 J. & .J. Feb. 13, '04to '13 .••. 400,000 3 J. & J Jan.21,1917to'20 . .•. 300,000 3 .... ••••...••. 1914 . ... 230,000 3¼ M. & N. May 1, 1914 & 'lS 5,426,827 3 to 7 Varioui. Bu1falo and New York. 1890 to 1927 l,OOO&c l,OOO&c 2,065,882 3¼ to 7 Various do do .Jan. 1, '90 to 1909 480,836 3 to 4¼ J.' & J. do do June, 1890 to 1900 l,OOO&c 1,000 170,000 5 g. & 6 J. & J. Boston, Bank Redemption. July '90 &/an.'93 ..•. 255,000 6 do do Jul.v, 1893-'94·'95 .... 624,000 6 •••• do do 1895,'96,1903·4-5 •.•. l 27,000 6 • ••. do do 189::i,&1903, '4, '5 •••. 55,000 3¼ & 4 . .•. do do Nov.1. L896&l907 .... 210,000 4 • • •• do do 1917 & 1918 265,000 4 do do Ap.'95 & Aug, '05 874,000 6 Various do do July,1890 to~l897 500&c. 519,500 4: & 5 ..•. _ do do '94·'98·1907,'8 '10 1,000 218,000 3¼ do do 1906 and 1911 448,500 7 A. ·Jt·o. Charleston, Treasury 18!-l O to U97 (Thar~ton, lOO&c. 109,500 6 A. & O. do do Apr.. & Oct., 1898 do do do 1878 100 &c. 3,391,737 4J. & J. do do Jan.&Julyl,1909 do ooup. or reg. . . • . . . . . . . . . . . 1879 100 &o. 492,800 6 Various Chelsea, City Treasury 1890 to 1908 Ouuea, Mass-Sinking fund bonds........ . . •. .••. . .•. 1,092,000 6 Variom1 Boston, N. Bk. Redemptton Aug, 1, 1891 to '95 Funded debt ($350,000 for water).... . • • . . . • . •••. 1,000 77,000 4, 4¼ Various 1890 ao notes.............................. . •••• . ... 132,000 6 J. & J. N. Y., Am. Ex. Nat. Bank. July,'97&Jan.,'98 07a.icag~Waterloan.... ......................•.. •••• 500,&o. 3,115,000 7 J. & J. do do July, 18~0, '2,'4;'5 Waterloan........... .. ............ . ......... ... 1·9·s·2· 1,000 333,000 3·65 J. & J. do do July 1, 1902 Water loan {refunding) . . . • • . . • • . . . . •• . . . . . . • • . 100, &c. 150,000 4 J. & J. do do July 1 , 190~ .lOO&c. 225,000 3¼ J. & J. do do July, 1909 1 ,288,000 7 J. & J. do do July,'l12, '91 & '95 ~ds:•~~.~•~~.~•:.•:~:: ~~~~•~~~-~•:. 50~ ~O, 1880 489,500 4¼ J. & J. do do July 1, 1900 815,000 4 J. & J. do do Jnly 1, 1904 & '08 do $458,000 J'y, '04.; $387,000 J'y, '08 1884 & '88 2,608,000 7 J. & J. do do J'y, '90, '2, '3, '4,'5 River improv-ement bonds, part each year. . . 1:000 186,000 6 J. & J . do do Juloy, 1895 & '96 Mun'lbds.,$100,000J'y,'95;$86,000J',r ,'96f&g •••• 1,000 1,857,000 7 J. & J. do do July 1, 1890 to '99 Municipal and School bo:nds................... .••. 500 &o. 1,333,000 4 J. & J. do do April 1, 1901, '7,'8 Jdnnioipal bonds {refundmp: loan) ..•...•...•.. 1881-7 & 8 .... 1,825,000 7 :'ii. & N. Chicago. 1890, 18!12 Cook County debt, $1,4.83,000, May, 1892 . . . 500 &o. 750,000 5 J. & J. do Jan. 1, 1899 do ..•. . ... 1,658,500 4 & 4¼ M. & N. do Ma,· 1, 1900-1905 do ......•. ($500,000 at 4 p. o. due 1905) . .... . .•. 950,000 4 M. & s. do Mar. 1, '90 to '08 do ...•....•.... due $50,000 ea.oh J ear.. . .. . . ... 194,000 6 M. & N. N.Y., .A.m. Exch. Nat. Bank. Nov. 1, 1890 o-incin.-B'dstoO. &M.RR.topurch.whf.prop.N 1855 1,000 397,000 6 A.. & O. N. Y. Bk. of America. April 15, 1895 Bonds for ext. an<1 impr. Water W .. C, D. &E 1847 to '50 500 &o. 171,500 6 M. & N. do do May 1, 1897 Bonds for funding floating debt ........ A&A2 1847 to '48 500 &o. 750,000 7 3-10 J. & D. N.Y.,Am.Exoh. Nat. Bank. June'97&Nov.,'98 NewHosp'l bds. $250,000M.&N.,due'98.S&S2 1867•'68 1,000 60,000 6 J. & J . do do .Jan. 1, 1900 Bonds for fund,ing floating d ebt ........•..•.. L 1853 1,000 175,000 6 Various N. Y. Bk. of America. June & Oct., 1900 Extension and improve. Water Works ... K &F 1851·'53 1,000 100,000 6 M.17&8 Cincinnati, Cit,y Auditor. Mar., 17, 1908 Bonds to purchase Orp'n Asyl. grds. for park.O 1858 100,000 300,000 7 3-10 M.15&8 N. Y., Am. Exch. Nat . .Bk. Sept. 15, 1899 Bonds ;tor sewerage and Gilbert a.venue .. R&U 1869 1,000 100.000 7 3-10 A. & O. do do Oct. 1, 1899 Bonds to build Eggleston a.venue sewer .... B3 1869 1,000 300,000 7 F. & A. do do Aug.1, 1897 Bonds for Water Work purposes ........... 05 1872 1,000 µ00,000 7 J. & D. do do Dec. 1, 1891 Genera.I improvement ..•...•...•.........•. W2 1871 1,000 Cincinnati Southern RR....................... 1872 1,000 8,071,000 7 3-10 J. & J . do do July 1, 1902 4,825,000 6g. & 7·3 M. & N . do do May 1, 1906 do do {$2,890,000 are gold 6s) 1876 500 &o. 2,260,500 6 & 7 Various do do 190:>1908-1909 do do 1872'78'7fl 500 &c. 995,000 7 Ml5&N Cincinnati, City Treasury. May 15, 1904 Funding debt bonds, coupon.................. 1874 1,000 200,000 7 F. & A. Cincinnati, City Treasu1·y. Au~.,'90 ..'1!1'95 b Water•works b'ds.,$100,000dueAug.,1895 .Dl 1875 1,000 140,000 5 & 6 M. & N. N.Y., Am. Exch. Nat. Ban.Ir. Var. 1894 to 1909 Bonds for McLean Ave. sewer ($35,000 58) U2 1 879 1,000 50,000 7 M. & N. Cincinnati, City Treasur \", May 1, 1906 Hospital bonds ... .•...••..•...•....•....... 83 1876 1,000 76,000 7 F. & A. N.Y., Am • .Exch. Nat. Bauk Aug. 1, 1897 University ..•......••................ .. ..... H2 1872 1,000 675,000 5 & 7 Semi an Cinoin., Offi.f!e Clty Treas'r. 18 HO to 1899 Street bonds, series, part of each eaoll year . .. 1880 to '89 Various 2,354,000 4 & 5 Various N. Y., Am. Exch. Nat . .Bk. 1930 & 1931 Consol. s. f. bonds, 30·50 yrs. (Act Apl. 9, '80 1880 & '81 1.000 24,706 4 & 5 Various do do May, 189 0 Assessment bonds .••......•.. ..•.... ....... . U4 1880 100 &c. 79,000 4 J. & J. Cincinnati. May, ' 91 & J'y,'92 Work House and Infirmary ($19,000 M. & N.) 1881 & '82 100 499,500 4 J. & D. N. Y., Am. Exch. Nat. Bk. June l, 1901 Funding debt (redeemable after 1891)... ..... 1881 100 &o. 2,473,000 4 Various do do llJ05 to 1909 Defloienoy and pavement b onds (10·20 yr.) .. 1885-'89. Various f>75,000 4 J. & D . do do June 1, 1907 &'O~ Oity Hall bonds. redeemaole after 1897...... 1887-'88 1,000 425,000 4 J. & D. do do June.1908 & 1909 Fire and pavement 10-20 bonds ...••.......•. 1888 & '89 1,000 1,775,000 3·65 to 7 Various N. Y., Am. Exch. Nat. Bk. 1~92 & 1903 Oletielana--Watel.· works ($200,000 ~e 6 p. ct.). 1872 to '84 1,000 1,784,000 4, 5, 6, 7 Various do do Va.r.1889 to 1902 Fundeddebt ..........•..............•.......... 1872 to '89 1,000 80,000 7 Various do do Nov., 1889 & '92 Lake View and Monumental parka ......•.... . 1872 to '74 1,000 Oanal and canal look ($11,000 are 6s) ........ l874 to '79 1,000 2 75,000 6 & 7 Various do do Var. 1894 to '98 Brooklyn-(Oont'dJ-4th ave., improve't loan .. 1868 &. ' 69 $1,000 Bridge loan, $1C0,000 yearly .....•.. • .•.. c&r 1870 Bonds for N. Y. & Brooklyn Bridge .••.. o or r 1870-'76 Bonds for N. Y. & Brooklyn Bridge .......... 1876 to '80 40 do .••....••. •• • ..... 1879 to '82 do do ..•.....•...•..... 1881 to '83 Prospect Park loan, reg. & ooup..•••.•......••. 1860 to '73 Prospect Park loan........ . • . . . • • . . • • . . •• . . . . . 1864 Pem1anent water loan .••..•....••..•...•••.•.. 1857 to '75 do do ...••••..•...••.•••...•. r 1889 Temporaey tax oertiftcates.. ........ ....... •• . Various. Certs. of indebt. ($35,000 4s due 1890) . . . . . • . 1884 Bonds to pay arrears to oounty . . . . . . . . . . •• . . . 1884 .Arrear'ebds. {$1,6t0,000 10-40s 48, J'y,'23).r 1884 Looal improvements ... . ....................... 1883 · do $100,000 due Feb. eaoh year....... r 1889 8ohool impr'm't, $100,COOdue Jan.eaohy'r.r 1889 Local improvements........................... . ••. County bonds, reg............................. ••. . 1i. Y.-Funded debt bonds .......••. c&r 1870 to '89 ater works bonds .••..••.•••...•.......•. c&r 1870 to '89 axloan bonds. ~..•.••...•.•................ c&r 1880 to'89 Cambndge, Mass.-City loau,!Bl50,0005s'93c&r 1863 & 70 Cityloan,llaving 20 J ear l oans ...... ...... c&r 1873, '4. '5 do sewer l'ns, 20 yr. & 30 yr. b"ds .. c&r 1873 '4'5'6 do street (20 yrs ) & street widen'g(30) 1873,'4.'5 do sev.-er l'ns, $30,000 are 48, Nov.,'07 1886 & '87 Bridge lo11ns, 20 years ....•.••........•..... . •• . 1887 & '88 Municipal (10 yr) and Cemetery (20 Jr) loans 1885 Water loan,20 yrs, part due each year'89to'97 1868 to '77 do (only $12,500 are 5s) .•....•... c&r 18'18-'87 1886 ~~-g_=9~ I I ~l co:~ a,: B!alo, s:o:..:.:eon.bds::tore<i:iiasi:duedebi". :i 8ew:r: i~ ........................ :~.4 rn~~ Po~ulatjon in 1870, 396,099, against 566,663 in 1880. Valuation of property Etnd tax rate per $_1 ,000 have been: Real. Personal. Av. Rate. 1885 ......•......... .. .... . . $386,221,357 $22,049,310 $26·50 1888 ············ ··· ···· ···· 385,904,998 22.597,240 27·347 1889 .. .. ...... ... ... . . . . . . . 407,127,5~5 21,330,546 29·482 The debt ofKingsCo.,separate fromthedebtofBrooklyn, Aug. l,'88,was $4,539,500, of whi"h the city is responsible for J'ilrntllS. (V.50, p. 106.) Buffalo.-Total funded debt, Jan., 1890, $9,741,066. Water debt, Jan., 1889, $3,110,882; sinking fund assets, $217,618. Valuations and tax per $1,000 have been: Years. Re.al estate. Personalty. Tax Rate. 1885 .... .......... ............. $99,912,470 $8,461,675 $17 21 1888 .••..••..••............... 123,693,£00 9,383,405 15 53 1889 ··•··••·••···•········•· .. 147.159,325 10,344,455 14 15 Bnftalo also pays 77.100 of Ene county debt. The interest on di:tt'erent bonds is 3¼, 4, 419, 5, 6 and 7. Population, 230,284 in 1887 (police oensus); 154,766 in 1880; 117,714 in 1870. Charle&ton, s. c.-Total debt Jan. 1, 1889, $3,960,033, against '5,241,710 in 1870. There are also $23;ooo 5 per cents. Con• version bonds of 1878 and 1879 are issued ln exchange for city stock. Valuations and tax rate per $1~00 have been: Years. Real l:\,State. Personal Prop. Tax Rate. 1887 ..........•............ $14,221,290 $7,290,912 ....•. 1888.... •.. . .... . .... .... .. 14.,527,350 7,042,W5 $33 75 1869 .... •.... .... ·········· 14,'i 26,715 6,698,632 33 25 Tax rate in 1889 in<:ludes: State tax, $9 00; school tax, $1 25; oitr, tax propu, $23 00; total, $33 25 per $1,000. Population, 49,984 m 1880; 48,956 in 1870; about 63,000 in 1889. Ohlcago.-The city debt is limited to 5 per oent of the Illinois State valuation. '.: ,atal funded debt January 1, 1890, was $13,606,900, but t3,955,< 00 of this was on account of the Water Works, \\ hioh yield an fncomf> murb above the interest charge on the debt. Sinking fund, f364,COO. In total debt as above is included annexed territory bonds as follows: Town c,f Lake, $411,400, 5s & 7s; Hyde Park, $434,0l 0, 5s and 7s; Lake View, $£00,000, 4s, 5s & 7s. Valuations (ab ou 1 one•third uue value> as follo-ws: Years. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Personal. Railroads. *Tax pe:r Years. Real Estate. $1,000 1884.••••••.•••.•••. $10.'5,606.743 $31.72(>.%7 $35 48 1887........ .... .... 123,679,654 38,035.080 34 76 1888 (tax of 1889). 127,37~.618 $36,503,574 $4,i59,639 5018~a.x rate for 1889 includes: State tax $3 80; county tax, $-3 75 ; school and city tax proper. $37 63; total per $1.000, $50 18. Boulevard tax (different in different 1<eotions) not included. Population in 1870 was 298,977, and in '80,503,185. The South Pn.rlr, West Ohioa~o .t'ark and Linco.1.n. Park loans are not debt s of the city. -(V. 48, p. 609; v. 49, p. 653) . Clnclnnatt.-Total fundea debt Deo. 31, 1889, $26,358,207; in addition there are $1,444,518 streetimprove. bonds held as sinking fund for above and $675,727 s ·reeli improvement b onds not so held, both lote, however, payable by special property asses ment. Of the net debt $18,610,000 is for Cin. i;outh. .Railway (pa.ya city $9(10,000 till 1901, then $1,250,000), and $1,525,000 for water works (aelf•sup~ porting); balanoe, $4.778,689. In 1870 the population was 216,239> against 255,139 in 1880. ·.rhe following table fl'Om the books of tho Auditor of Hamilton County, Ohio, exhibits the assessed valuation ot the city of Cincinnati for three years named: Years. Real Estate. Peraona.Jty. Total Val. Tax rate. 1880 ......... $129,966,980 $37,578,376 $167,535,354 $31 0 0 • 1888ttax'89) .••..•...•• . ......•...•• 174,837,240 *2680 1887 (tax '90) •••...•..••. ..•..••..••. 174,837,240 ....•• * rax rate for 1889 includes : State tax, $6 21; school tax, $4 24 ; city tax proper, $16 35; total, $26 80. The city owns tne stock of um. 1:3. HR., leased as per terms, V.33, p. 28L See also Y. 46, p. 319. Cleveland.-Total funded debt Jan. 1, 1889, $8,275,800 (wate:r debt, $1,775,uOO); sinking fund assets, $ 1,887.4~7; net debt, $6,388,· 303. The sewer, street rmprovement1:1 an<l street opening oonda are for special looalimprovementa, and redeemed by assessments on the propertybenefltted. Pop.,160, 146 in 1880; 92,829 in 1870. .AP.Ressed valu.. ation in L888: R Fal e~tate, $69,136,345; pers01,alty, $26,786,240. Tax rate in 1888 (for tax of 1~89) includes: State tax:, $l·90; county . tax , $2·80; achool tax, $6·00; city tax l roper, 16·15; other, $0·45. total per $1,00l), $28·30. 45, p, 743,> ,.-----~------ ,v-. CITY SECURITIES. J A.NU ARY, 1890.] 9 Sub•crlber• wtll conf'er a great :favor by giving llDJlledlate notice ot any error dl•covered In these Tab'e•. DESCRIPTION. For explanations see notes on first page of tables. Date of bonds. -Ole'IJeland-(Oon.)-Gen. bonds,vari'spurpo11es. 1885-89 Viaduct (mostly F. & A., A. & O. and J. & D.) 1873 to '78 Elevated Roadway ......•...........••...•..... 1886 to'88 Special bonds . ....................•...........•.•Various. Kingsbury and Pearl Street Bridges........... ~884-5•6-7 School.._ ..... · ·-· ...... ·-···-··-··........ . ..... 1890 ,Columbus, Ohio, Schol bonds . ................... April 1 Du Moines, Iowa-2d renewedjudg. bds. 5- 20s 1885 Fundin~ bonds, extended in 1888....... .. . . .. 1878 Warrant funding bonds drawn at par......... 1886 Detroit,Miclt.-For Water W.Co., on city's credit 1855 to '81 Public Building stock (City Hall) bonds ....... 1869·'70-l Public sewer bonds ($35,000 are 6s, due 1897) 1872 to '77 Public sewer bonds ($100,000 312s, due 1906) 1886·813·89 Belle Isle and Market bonds . ....... . . . . . . . . . . 187P·82 Public Improvement ........................... 1888 Public [mprovemf'lnt, ($30,000, due 1911 l. ... '86, '87, '89 Elizabeth, N. J.-Adjustment bonds and scrip . . 1882 ,Erie (Penn.)-Waterbonds ..... . ......... . ..•. 1670 to'73 Consolidated bonds, $35,000 ar~ 6s, 1898 .... 1874 to '78 Refunding bonds.............................. 1887·89 B'IJansville, lndiana.-Seriea A, fund. debt loan. 1887 Serles B, do do 1887 Series C, do do 1887 .New Water Works loan............ . .•. . .•. . . . . 1887 lull Ri'Oer, Mass.-City notes . ................... • .•• _ _ _ _ _ _ _IN_T_E_R_E_S_T_._ _ _ _ _ _ _ • Principal-When Size or Amount due. When Where payable and by par outstanding. Rate. value. payable whom. $1,000 1:000 1·,o··o·o ... . 50,000 1,000 1,000 ..•. 500,&c .••. 1,000 l,000&c 1:000 500 &c. 1,000 100 &c. 500 &c. 1,000 1,000 1,000 1,000 Large. l000&c. 1,000 1,000 Cit~~ondsgoid.·::::: ::: : ::: : : ::: : :: :: : ::: : : ::~: :::: do ($50,000 are 5s) .............•.••. c• •.•. do -···································c"' .... Various do $175,000 are 5s, due May, l!i!98 .. c* •••• do (sewer) ............................ c* •••• 1,000 Water loan, $25,0UO due y'rly, 1892 to '99.c&r •••. 1,000 do ................................•. c&r .••. 1,000 do $100,000 due 1906 are M.&N . . c&r ..•. 1,000 do ••••......•...............•..•.... c&r .••• do letehburg, .Mass.-Clty bonas...... . ............. iS73 1:000 Mmtlcipal bonds ($2,000 or$ !,500 due y'ly).. 1887 2,000&c Water loan ($300.000 due July 1, 1891) . .... 1871 & '75 1,000 do $50,000 4 per cents are 10-20s . . r 1883-6 1,000 '8al1Jeston,Pe:t.-Llm.debtbds.(s.f.2%) pay.atwill 1877-8-9 , 100 &o. do Limited debt, 40 year b'ds s. f .. 1880 & 88 100 &c. 1888 .... W. W. S. I. & C. H. 40-year bonds............. Hartford, Oonn.-Waterbonds...... ... .•.. ... .. . 1865-'81 1,000 City bonds (H. P. & F. RR.).................... 1876 1,000 Funded debt.................................... 1868 1,000 Capitol bonds.............. ........ .........• .. 1872 l,OG0 Hartford town, war debt . . . . . . . . . . . . . . • . . . . . . . 1863 1,000 do floating debt...... . . .. . . . . . . . . 1875 1,000 do New bonds, non-taxable ...... 1889 1,ouo Hoboken, N. J.-Judgm ent bonds . ....... . • • • . . . . 1875 1,000 Bonds,various . .....•....•...•.... . ............• 1865 to '77 500 &c. Bonds for redemp. impt. certs. . ............... 1878 1,000 do vartous ($75,000 due ~~eb. 1 . 1899) . ... 1878 500 &<' do various ($196,000 due Nov. 15, 1901). 1880-'83 500 &c. School House bonds............................ 1887 5,000&c Public bath............. . ....................... 1888 5,000 lndianapoli.9-B'dato Un.RR.Tr.St'kY'd(M.).c* 1877 1,000 Loan bonds, series A ........................ . c"' 1873 1,000 do do B ......................... c* 1873 1,000 do do C ....................... . . c* 1874 1,000 do do D ..••..•...••........•••.. c* 1875 1,000 Purchase-money bonds-Southern Park....... 1874 500 ..Jersey Oity-Water loan bonds, mostly coupon 1852 to '77 1,000 Water loan bonds, mostly coupon ....•..•..... 1869 to '73 1,000 Water loan . ......•......•."' .....•.•....•..••..•. Otty government ..•...•.....•••.........•• , c&r 1872 1:000 Improvement bonds, Green. school, &c .....•. 1871 to '88 500 &c. MorM;an street dock .••...•...•...........•. <'&r 1870 1,000 Funded debt bonds............................. 1872 1,000 Old Jersey CU.y bonds ..••...........•..... c&r 1864-'65 1,000 Hudson City bonds ........•...••.....••..•..•• r 1869-'70 Various BergenBcn'l loan b'ds ($50,000 dueJ'y 1,'981.r 1868-'70 l,0OO&c Bergen !'It. improv. and bounty loan bonds .. r 1865-'69 Various Assess'tfund.b'ds ($300,000, 1906, J.&J.).c&r 1875-'76 Temporary loans . . . . . . . . . . . • . . . . . . • . . • • . . • • . • • . .... . .•. Bonds to fund floating debt. &c ..•......... c&r 1,000 1 87 9 B'ds for mat'g b'ds,&c.($150,000, 5s,A&O)c&r 1880-'1 City of Jersey City loan........................ 1884 9 iio:..::.aeiiewai"20:year·boii<ia~::::: «!:':-!sJi~i. '75-;76-'77 Renewal 20-year bonds, $40,000, 7s, 1898 ..• 1878 & '81 Funding and renewal bonds, series "B"...... 1873 1:000 1:000 $127,000 2,138,000 884,000 627,300 300,000 140,000 100,000 228,000 160.000 210,000 1,137,000 217.000 291,500 510,000 121,000 100,000 470,000 3,250,000 133,000 527,700 306,500 675,000 Jts0,000 720,000 400,000 200,000 45,000 600,000 450,000 100,000 261,860 125,000 200,000 300,000 800,000 300,000 100,000 400,000 29,500 400,000 104,500 115,900 1,249,400 500,000 827,000 500,000 300,000 1,000,000 50,000 203,000 750,000 54,000 219,500 337,000 151,250 261,000 45,000 10,000 500,000 300,000 300,000 300,000 200,000 109,500 984,000 3,277,000 525,000 549,000 5,151,33::3 125,000 500.000 352,000 50,000 150,000 41,000 1,000,000 1,028,000 1,353,000 600,000 1,000.000 2,867,000 300,000 90,000 250,000 Detroit, Mich.-Total funded debt July 1, 1888, was $2,531,500: deduct for wa.tet· works, $1,137,000; assets of smkin~ fund, $725,877: There are $10,000 House of uorrection bonds; 4ne 1893. The population in 1870 was 79,577; in '80, 116,340; m 1883, 130,000. The value of water works is about $3,500,00. The water works bonds are issued on a pledge of the citv credit, and -$75,000 per year collected ln taxes to pay interest on them. Pouulatlon in 1886 about 175,000. Valuations (based on true value) and tax rate have been: Personal. Years. Real Estate. Total. Tax Rate . 1880 .... •• $64,556,085 $1P,807,705 $81,363,790 $11·83 27,928,880 188.4 ...... 82,793,115 110,721,995 ll·H 142,407,880 36,". 80,040 1887' ..... . 105,827 ,!:!40 12·0! 39,558,8'10 1888 •••••. 112,740,300 152,299,140 13·10 Elizabeth, N. 3 .-Default was made in interest February 1, 1879, A proposition to issue 4 per cent bonds at 50 per cent of the face value of old bonds was made, and has b een generally accepted, of tht, 01'1 ,debt only some $3 ,11 ,000 remaining unadjusted January 1, 18S\). Assessed valuations and tax rate p er $1.000 have been as follows: In 1886, $12,628,710, rate, 27·20; in 1887, $l3,0u7,'295, rate, $2'J•80; in 1888, $12,i,1u,ooo: rate, $t9·80; in 1889, $13,t5o,ooo, rate, $Z9·80. Populatior., 1880, 28,229; in 1870, 20,832; estunated in 18 s, 6 to be 32,600. (V. 46, p. 82ti; V. 47, p . M; V. 49, p. 51.) Evansville, Ind.-There was default in payment of interest from April, 1883. In t 887 the old debt was nearly all.funded into the several l88ues of bonds a•,ove given. Years. Real Estate. Personalty. Ta·x . Debt. 1884 .... ........ $13,527,090 $6,51 9,820 $10 OU ,1651,000 188b . ....... .... 13,~66,645 6,682,895 10 00 1.651,000 1887 ............ lfi,184.693 6.239,810 16 6623 2.14'i,O00 1888 ··· ········ 15,038,570 5,787,138 15 00 2,145,000 JPalJ River, Mass.-Total funaed debt, Jan. 1, 1889, $3,661,861; (of this wattr debt, $1,'7 00,00 11), deduct sink. f'ds, $ 1,206,822; net debt• $2,455,038. Pop. in 1885, 56,863; 48.961 in '80; 26,766 in '70. Valuation 1n 1885, $43,815,275: in 1888, valuation, $46,477,285; tax rate $17·40. PUcbburg, Mass.-Population 12,270 in 1880; 20,000 (est.) in 1889. Aa&e8bed val'n of real estate (about cash value) in 1886, $8,422,· 11.et debt. $668,6i2. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 & 41g 5, 6 & 7 4 &5 4, 5, 7 4, 41.;i, 5 41g 5 4¼ 4 4¼ 4 to 7 7 6 &7 3¼ & 4 4 3·65 3 & 3¼ 4 7 7 &6 4 5 ---·-----------1-------June, 1890-190'; Various N.Y. Am. Exch. Nat. B ank. Various do do Various do do Various do do Various do do Var. 1893 to 1907 Var. 190l to 1904 Var. 1890 to 1903 Var. 1899-1903 A. ·&·o. N. Y., Nat. Park Rank. Ap·ru·i;l899 J. & J. N. Y., Coffin & Stall.ton. 1905, payable '90 F. & A . do do 1908 M. & N. do do 1906,red.atoption Various N. Y., First Nat. Bank. Aug.,1889 to 1906 Various do do June, '89-'90-'91 F. & A. do do 1892-'93·'94·'97 J. & D . do do 1906 & '18, '19 Various do do 1889 to 1902 ...• do d() J a n. 1, 1918 Various do do Va.r. 1911 to 1920 J. & J. N. Y., Mercantile Trust Co. July 1, 1922 Various New York. l o90, 1892, 1893 J. & J. [do 189-1 & 1893 J. & J . do Jan. 1, 1907 J. & J. N. Y., Winslow, L. & Co. Jan. 1, 1912 412 J. & J. do do Jan. 1, 1912 4 J. & J. do do July 1, 1912 6 J. & J. do do July 1, 1912 37s, 4. Varioua City Treasury. .Aug. 5, 1892 6 Various do Apr.& Sept.1891 5 g. F. & A. Boston, Revere Bank. Aug. 1, 1894 5 & 6 M. & N. Boston, Bank Redemption. May 1, 1895 4 M. & N. do do May 1, 1891$ 5 &6 do do 1896-'97·'98 378 M:&·N. City Treasury. Ma.y 1, 1905 6 M. & N. Boston, Bank Redemption. ~o:v. 18, '92 to '99 6 Various do do A.ug. & Nov., 1899 6 F. & A. do do 1900, 'Oi, '05, '06 5 VariO 'lB do dp 1908 & 1909 4 F. & A. do do Aug. 1, 1900 6 J. & J. Boston, Merchants' Bank July 1, 1893 4 M. & N. do do 1890 to 1897 6 J. & J. do do July 1, '91, 1905-6 3¼ & 4 A. & 0. do do 1894,95,98&1903 8 M. & B. NewYork or Galveston. 1893-1909 5 J. & D. do do 1920 & 1928 5 J. & J. do do .•••.••• 5 & 6 Various City Treaslll'y. 1890-1906 6 J. & J. Suffolk Bank, Boston. Jan. 1, 1891 6 J. & J . City Treasury. Jan. 1, 1893 6 J. & J. do Jan. 1, 1897 6 Jan. Town Treasury. $10,000 yearly 6 J. & J. do Jan., 1900 3 .... . . . . .. . . . . July 1, 1909 7 J. & J. ) Interest on coupon ( Feb. 1, 1905 7 A. & O. 1 bonds p aid at First.Nat. I Jan., 1890 oo 1896 6 Various rBank, Hoboken; reg. 1 D ec. 1, 1898 6 Various int. paid by City Treas• { 1893 to 1902 5 Various urer; interest on Water I 1901, 1903 & 1910 412 F. & A. bonds paid by Water I Aug. 1, 1907 4 Va-rious Registrar. l Oct. 1, 1898. 6 J. & J. N. Y., Wm.slow, L. & Co. Ja.n. 1, 1897 7·3 J. & J. do do July 1, 1893 7·3 J. & J. do do July 1, 1893 7·3 J. & J. do do July 1, 1894 7·3 J. & J. do do July 1, 1895 7·3 J. & J. do do Jan. 26, 1~94 6 J. & J. N. Y., Merch. Ex. N. Bank. Jan., 1891 to 1909 7 Various do do Var. May,'91-1913 r, · do do Feb. 1, 1913 7 J. ·&·J. do do July 1, 1913 7 Various do do 1891 to 1906 7 J. & J. do do June 8, 1900 7 M. & N. do do May 1, 1897 7 A. & 0. do do April, 1890 7 J. & J. do do 190U 7 J. & J. do do Jan., '98 & 1900 7 Various do do May 1, 1890 7 J & D. do do 1894, l905, 190~ Demand. ..6. F. &..A. N. Y., Merch. Ex. Nat. B'k. Feb. 1, 1909 5 & 6 .J. & D. do do 1910-1911 6 A. & O. . . • •. • • • . . April 1, 1904 .••• 8 Semi-an ~ewYork,Ninth Nat.Bank 1895,-i896& 1897 6 &7 s~mi-an do do Nov., '98-.Jan. '01 8 M. & N. do do May 1, 1893 J 675; personalty, $3,071,886; tax rate, 18·20 per $1,000; in 1888, real. $10,345,41 0; personal, $3,34.9,480; ta.x rat~, $16·80; in 1989, rell.l, $ l l,09 .!,800; personal, $3,722,568; tax rate, $ l 7. Galveston, Texas.-Total funded debt Mar .. ·1, 1689, $1,910,500; deduet bo nds m sinking fund $268,400, and cash on hand$ lo23, 115; net debt, $1,225,035 . •r.1,x: rate in 18 39 $ t 7·oo ($2 lor school~). Assessed value or real and personal property (about 50 per cent true value), 1888, $20,063,883 ; tax: rate per $1,000, $17·00 (of which $2 for schools). 1885 valuation, $18,588,196; tax rate $15·00. Population m 1870, 13,8J 2; in 1888. estimated, 40,000. HartCord, Coun.-Total city debt, April 1, 1889, $~,83!,882; net, after deducting resources, $1,8 ,7,83 J; net town debts, Oct. 1, 1888 $1.179,964-. Assessed valuation in 1896, $-15,700,000; in 1885, $45, 898,36"1. Pop. 42,553in 1880; 37,743 in 1870. It is proposed to issue new town 11ondi at not e~ooerlin~ 3 ½i per cent to retire the 10-25s, $750 000 of these being subject to call July 1, l88i1, and $500,000 .Ja,n. 1, 1890. Hoboken, N • .T.-The funded debt May, 1889, was $1,122,750, of wbiJh $91.50U was water debt ; sinking funit, $5,491. Assessed valuations in 1888·9: Personal, $1,510,060; real estate, $15,873,000; tax rate per$ l,000, $25•oi.>; population, 35,000. Valuations in 1887•8: Personal, $1.509,460; real e.,ta.te, $15,8 73,0 JO. Tax: rate in '86 7, $27·00. IndianapoJis.-Tota.l bonded debt Jan. 1, 1889, $1,405,500. The School .Boar<l is a distinct orga.ntza.t'n and levies its own tax ($2 20 for 1888), which is included in tax ·r ates. There are a few other small issue, amounting to $50,000. Pouulation, 75,056 in 1880; 4d,244 in 1870. Valuation (one half real value) and tax per $1,000 have been: Years. Real Estate. Personalty. Total. Total Tax. 1883 . .•........ $39,335,860 $13,792,290 $53,128,lt>O .••• ta,891,650 54.o41,600 .: • • 188 4 _.•. .. ...•• 40,149,950 18 1 0 1888. ·····•·••· 36,377,275 15,583,260 51,96J,535 Tax rate of 1838 includes-State ta-c $3·90, school tax $2·20, city ta.x proper $9 ·0 0; total, $18·10 per $1,000. . .J er•e,: Olty.-One of the main causes of pa.st trouole m Jersey City finances has ueen the failure to collect back assessments arid the lara amount of _railroad property exe_mpt from taxation, but RR. property' ts now bea.rmg a sha:·e of the2taxa.11on. INVESTORS' SUPPLEMENT. 10 [VoL,L, Subscribers will conf'er a great Cavor by giving IIninedlate notice ot any error discovered ln these Tables, " Dateo:t Bonds. DESCRIPTION. F or explanations see notes on fl.rat page of tables Amount Size or par outstanding. Value. Kansas Oity, Mo.-(Oont'd)-Floating debtbds. 1875 $500 Bonds to K.C.&S.F., due '90 & K.C.&N.('97). 1867 .&' 70 1,000 1884 500&c. Lawrence, Mass.-Sewer loan .••..••..••..••..••. Funded debt .••...•...•. .•• ..••..••..••.•••.•••. 1862 to'75 5000&c. do ···--··--·····-·······-··-·········· 1881 t o '87 lOOO&c. Water loan ......... . ........................... . 1873-'75 500 &c. Long Island Oity- General bonds .• , .....•...•. Various. 500 &c. Tax or revenue bonds .•...••...•...••..••..•.. 1883-'89 500 f.,ouismlle, Ky.-Water works ..•.....•••..••.•••. l859 to'67 1,000 For improvement of streets .•••••••••••••••••. 1866 to'67 1,000 For municipal improvement .••..••.•.••.. , .••. 1883 1,000 Re-constructing street ..•...•....••.••..•• . •••. 1873 1,000 Pub. bldgs.&instns.$122,000of'91,pa.atB.F .of. 1871 to'73 1,000 1868 1,000 Sewer bonds .••• . ·~ ................•............ 1871 1,000 do Elizabeth & P. R11.1\roail ..•..••..•....•...•..... 1868 & '73 1,000 Wharf property ($124,000 due May 14, 1898) 1862, 3, 8 1,000 1869 Jail bords ......•..••.........•...•...•...•..... 1,000 For old liabil'fl, $119,000of1901,pa.at8.F.ol. 1871 & '74 1,000 1886 do do .................. ............. 1,000 do do (half a.re 10-40 and half 20-40) 1880 1,000 Louisville, New Albany & St. L. Air Line RR. 1871 1,000 Road bed, Louisv., Cin. & Lex. RR .••..••..•• . 1871 & '73 1,000 Oitybonds nayable by Louisv. & Nash. RR ... 1863 1,000 Municipal bonds ....••..•...••..••.......•...•. 1888 100 &o. £00,eU, Mass.-City notes (various purposes) . . . 1862 to'84 Lar~e. Bridge bonds .•••.••..••.•••...•••...••..••..••. 1882-83 1,000 Water notes .••..••.•••.••••.••••••..••.•••..••. 1871 to'85 Large. 1870 Water bonds .••.•••..••••••.•••.•••..••..••...•. 1,000 Sinking fund ...•.•••..••...•......••.•••...•••.. 1883 & 85 Lynn, Mass.-Waterbonds andnotes ..•..••..••. Various . Water loan, act of 1883, 30-year bonds .... . . r Various do act o:t 1888, 30-year bonds, s. f . o• 1888 1000&0. Municipal Joan, School and Engine Houses ... Various 500 &c. Jlancll,ester, N. H.-City bonds . ..•..••..•••.••... 1869-'85 Nater bonds ................ ................. ... 1872-'74 lOO&c. Bridge bonds .••..••...•...•...•............... . 1881 100 &c. lremphis,Tenn.-Comprom. 6s,due1907,stam'd.c 1877 1,000 1883 Tax dist. 6s, due 1913 (maybe called) ..••..••. 100 &c. Tax dist. 6s, due 1915 ...••..••..•........•..•• . 1885-'87 1,000 ltl.ilu,aukee, Wis.-General city b'ds (d'n at par) 1871 1,000 do do (not liable to be called in) 1,000 1876 do (drawn at par) .••..••.... 1885-86 do 1,000 Bridge bonds (drawn at par). ................. 1882-'83 1,000 Water.bds., $240,000 due 1903,dt'n at 100.c&r 1872 t,OOO&c do ..• . .....••...•...•. .••. .......•.... . 1883-86-87 do Refundi , g coupor (drawn at par). 1883-'84 1,000 Scbool bonds .......••..••...••..•••.••..... . •• . 1887 1,000 Bath and Intercept Sewer bonds .•••...••..•• . 1887-8 Minne~otis, Minn.-Railway Aid .............. 1871 & '77 500&c. Gen. purp·s, schools, &c. ($600,000 are-1&412s) 1 871 to '89 Various. Parks ($100,000 are 4s) ......•.•••..••..••. . 1883-'89 1,000 Library ($40,000 are 4!>) . .....••...•..•.••••••. U•85-'86 1,000 Water Works ($620,000 are 4s) . •••..• .. ...... . 1 871-'138 500 &c. Permanent Improvements ($1,405,000 are 4 s) 1881 to '80 1,000 Bridges over Miss. River ($320,000 are Ss) ... 1872 to '89 1,000 Sewers ($65,000 are 7s & 8s) ............•. .. • . 1870 to '88 1,000 Mobile-Fdg.bde.,dr'nat 100(4p.c. to Jan.!190J) 1881 500 Nashville.-City bds.($25,000,Cl.ue 190l)M&N c• 1870 to'87 100 &c. Bonds ....................••..•....•.......•.... Municip'iil Brid/ce bonds ...................... c• i885 1:000 Waterworks($ 0,000 due yearly after 1906)c• --·· Waterworks ($300,000 due l\:H8) .. . ..•........ 188f& '88 Newark-Floating debt, &c., sinking fund ....... 1866 & '71 1:000 II Public school bonds, sinking fun ...•...•..... 1868 to '87 1,000 Clinton Hill bonds (s. fd. 3 p. o.) ........... c&r 1875 1,000 Corporate bonds, sinking fund ...••...... . c&>r 1878-'80 1,000 Bewer and improvement b'ds (local liens) s. f. 1873--1887 1,000 Aqueduct Board bonds($2,490,000 due in '92) 1867-'86 1 ,000 Tax arrearage bonds, sinking fund ..•......... 1879 to'85 1,000 do do sinking fund . ••..••..••. 1886-7-8 Funded debt bonds, sinking fund .... a ••••••••• 1885 Annexation and City t ax, sinking fund .....•. 1886 Intercepting Sewer bonds ......•............•. 1888 1:000 lfeu, Bedford, Mass.-City improve. (part s. f.). 1875-89 Various Water bondi' ..... .•..••...•.......•..••..••..•• . 1867 to'76 1,000 do ($100,000 4s due 1894) .• ....• . .... 1876 &'84 5,000 Sewer and Bridge bonds (part sinking fund) .. 1881-'f,9 1,000 New Brunswick, N. J.lat & 2d mort. wa.t er works bonds ............ 1867-69 Water bonas of 1873, '74 ($10,000 only are 6s) 1873--1874 1881-82 500 S ~ g fund b~~ds·:.:·::.:·.::·_-_-:::::::::::::::: 1882-85 500 do 500 do .-- - . 1885-86 do 1887 do Short bond ..•...•...•..•....•...•..••..••..•.••. 13~8 ··-· --· ·--· .... ... .......... .. ...... .. -- ------· $142,500 2 48,000 300,000 354,000 145,000 1,300,000 967,000 479,000 499,000 190,000 1,500,000 600,000 519,000 81,000 423,000 998,000 141,000 133,000 513,000 500,000 1,000,000 472,000 350,000 333,000 1,500,000 737,500 402,500 534,000 1,300,000 120,050 1,124,000 223,f:OO 265,000 1,206,000 285,000 600,000 60,000 746,000 1,fil6,121 986,000 1 58,000 98,000 248,eoo 119,000 1,074,000 5 24,000 21g,ooo 190,000 81,000 250,000 t-65,500 6!.!3,000 100,000 1,235,000 2 ,009 .000 926,000 20[, ,000 2,265,500 1,088,700 200,000 80,000 4 50 ,000 4€8,000 556,000 4.48,000 400,000 1,200,000 2,598,000 3,497,000 86 i',OOO 263,000 232,000 284,000 620,000 440,000 460,000 200.000 1~3,000 180.000 153,500 47,000 52,000 141,500 45,000 40,000 As to new bonds in 1889 see CHRONICLE, V. 48, p. 420. P opulation 1n 1880, 120,722, against 82,546 in 1870; in 1885, 155,300. Valuations and tax rate per $1,000 have been: Years. · Real Estate. Personal Prop, Tax Rate. 1886.~-----················ $61,894,739 $4c,985,200 $29 40 8 . •• . . • • . . • • . . . • . . • • . . . . 63,981,430 4,983 ,650 .. .. • . 18 7 1888. •. .••.• .•... .. . •• . . ••. 64,069 ,305 4,971,420 29 80 1889......... .... . . ...•.. .. 67,165,900 5,227,660 .• •. Value of railroad property. not included above, $25,000,000, which is sunject to a tax rate of l per cent for city purposes. (V. 46, p. 815; 48, p. 4m, 547.) Kansas City, Mo,--Total funded debt Jan. 1, 1889, $1,045,121, deducting sinkin~ fund assets, net debt, $695,121. In 1885 assessed . valuation was $81,678,520. In 1886 real estate valuation was $36,833,5EO; p er sonal, &o., $9,553,240. In 1889 r eal estate valuation, $46,886,320; personal, including banks, insurance companies and merchants' tax, $20,155,460; tax rate per $1,000, $20 50, of which $11 00 was city tax proper and $9 50 school and State t ax:. Assessed valuation in 1 888, 40 per l0nt of real. La-wrence. IUaH,-Total debt, January 1. 1889 , $2,169,000. Sinking funds, $528,738. Tax valuation in 1885, $27,144,050: tax rate, 16·60; 1n 1886, $27,165,590; tax rate, 16·40; in 1887, $28,427,123; tax rate, 17·80; in 1888, $28,971,97g; tax rate, 16·00. Assessed valuation toward 90 per cent of real value. Population in 1884 45,000; 39,151 in 1880; 28.921 in 1870. Loulsvllle,-The funded debt, Jan. 1, 1889, exclusive of loans payable by railToads, was $8,189,000 ($685,000 for water works>, against $9,352 ,000 Jan. 1, 1887. The sinking funds on Jan, 1, 1889, amounted to $3,206,459. Population by Census of 1870 was 100,753, against 123,7f>8 in 1880. The following rtgures give the assessed property valuation: 1882, $70,029,724, of which $52,269,68-1 was realty; ir1 1884, $63.927,077. t ax rate, $21 00; in 1886, valuation, $64,405,515, tax rate , $23 ·OO; in '88, val'n real esr•• impr'ts, etc. (incl. RR's}, $65,· 000,000; pers'iprop.,-etc., $7,269,487; tax rat,e, (levyof' 89) $20·20. Manche8ter, N. H.-Valuation in 18~5 $21,137,464; ta.x: rate $17 50 per $1,000. Valuation in 1887, $2r,905 476: tax rate, $17, The net proceeds from the waterworks more than meets the annual interest charge. Population, 32,630 1n 1880; 23,536 1n 1870. v. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INTEREST. Rate. When Payable Where P¾hable and by horn. Princip al-When Due. -----F. &A. New York, Ninth Nat. Bank 8 Aug. 15, 1895 · July ,.90 & J an. '97 J. & J . do do July, 1904 4 J. & J. Lawrence or Boston, 1890-1894 Various Boston, Tremont Bank. 6 1891-95-1902 4 Various Lawrence, Mass. Oct. 1, '90 , to 1906 A. & 0. do do 6 In instalments. 6&7 Various N. Y., Bank o:t Metropolis 1891 to 1909 do do 412 to 6 Various 1 890 & 1897 Various N. Y., Nat. Bk. of Republic. 6 1 896 & 1897 Various Louisville Sinlr. Fund Office. 6 1923 4 J. & J. N. Y., Nat. Bk. or R epublic July 1, 1903 do do J. & J. 7 1891, '92 & 1903 Various do do 7 July, 1898 J. & J. Louisville Sink. Fund Office. 6 June,1901 J. & D. N. Y., Nat. Bk. of Republic 7 J an. 1,1903 Various do do 7 1892, '93 & '98 Various Louisville a.nd New York. 6 Oct. 1, 1898 ,\., & o. Louisville Bi nk. Fund.Office 6 1894& 1901 Various N. Y., Nat. Bk. of R epublic. 7 Feb. 1, 1911 F. & A. do do 5 May 1, 1920 M.&N. do do 5 Sept., 1891 M. & S. do do 7 July, 1901 & 1903 do do J. & J , 7 1893 New York and Louisville. Various 6 '1922 Quar. 4 1890 tQ 1894 City Treasury. 4to6½ Various 1890 to 1903 do 4 Various Dec.,1888 to 1911 City Treasury. 319to661n Various Nov. 1, 1890 6 M.&N. Boston, Bank of Redemp'n. 18!: O to 1895 ' 312&4 Various 312 to 6 Semi-an Boston, Bank Renublio. Var., 1891 to 1905 oo -do Yearly,1913 to '18 312, 334,4 1913-1919 4 A. & 0. do do Var., 1 89 0to 1908 3½to 6 Various do do 1893 to 1911 4&6 Various City Treasury & Boston. 1890 t o 1907 City Treasury. 4&6 J. & J, July 1, 1911 4 do J. & J, 1907 6 J. & J. New York and Memphis. 1913 do do 6 J. & J, 1915 do 6 do J. & J. Jan. 1, 1901 7 J. & J. Mil.&N.Y.,MortonB. & Co. June 1, 1896 do do 7 J. &D. July 1, 1905 & '0 6 4 do do J. & J. July 1, 1902 4 do do J. & J. Jan. 1, 1902&190 3 do do 7 .J. & J . 1903-6-7 do 4 do J. & J. 1903 and 1904 •J, & J . 4 do do · July, 1907 do do J. & J . ··4· J . & J. Jul y.1907 & 1908 do do 1 897 & 1901 7 Various New York, Nat. Park Bank. 1 890 to 1919 4to 10 Various do do 1913, 1914, 1919 do do 4 & 412 Various 1913, 1914, 1919 vai:ious 4&4 do do 1 891 to 1918 4, 412,7,8 Various do do 1902 to 1919 4&412 Various do do 4, 41g, 8 V arious 1 892 to 1919 do do 1 890 tJ 1918 4, 412,7,8 Various do do J an. 1, 1906 4 to 5 J. & J. N. Y-.,Trad's Nat.Bk&Mobile 6 J. & J. New York and Nashville. Va•·., 1890 to 1905 1905 5¼ A.. & o. J, & J. N'. Y., Chemical Nat. Bank. Oct. 1, 1906 5 1 9()7 to 1915 6 M.&N. do do 1907 & 1918 New York & Nash. 412 J. & J, 7 Various Newark, City Treasury. Mar., 1891 & 189 6 1891 to !.892 4¼1 & 7 do do J, .&.J. Newark, Na.t. State Bank. July 1, 1895 7 Aug., 1908 & 191 0 5&6 Various do do 1893 to 1909 4,6&7 M.& 8. do do t892to1916 4,412to7 Various do do 1890 to 1895 F. & A. do do 5 1896 -'97-'98 4&419 J. & J , do do 5 F. & A do do Aug. 1<, 1895 Mar. & July, 19 06 4 do do M. & S. Apr. 10, 1908 4 A. & 0 . Newark. 1891 to 1910 312, 4& f A. & O. City Treasury. Oct., 189 0 to 1909 do 6&7 A. & 0. Oct. 1, '94 to 190 4 4&5 A. & O. do Var., 1 8 90 to 19 09 312,4&6 A.. & o. do 7 0 I 7 6&7 5 6 6 5 u 1892-1904 N. Y., Ninth Nat. Bank. M.&N.N Bruns'k Nat. Bank, N. J. Nov., 1890-1900 do do Sept. 1, 1901-UIO M. & S. do no 1902-1903 J!'MAS. 1905:.1906 do do J• & J, May, 1897. do do do do .... M.&N. ---- ········ Memphis Tenn.-Total funded debt Jan. 1, 1890, $3,248,977, The Legislature passed a bill, J an., 1879, repealing the city's charter and the ·' Ta:ting District of Shelby County" was organized. )'[arch 23,. 1883, an act was passed authorizing a settlement of the d ebt, and payments h ave since been promptly made. In 1889 valuation of real and p ersonal property (33t 3 of actual), $29,313,275: city tax rate, $23 50. Population in '70, 40,226; in '80, 33,592; 1n '89, 78,000. lttll-waukee Wls,-The city cannot issue debt beyond 5 per ct. of its average asseRsed valuation of real and personal property for five years. In 1885 real estate, $61,445,921 and p esonal, $17,415,445; in 1886, $82ci641,743; in !.887, real estate, $69,962,865; personal, 19,009,315; an tax rate, $17 ·50 per $1,000. In 1888 total assessed valuation, $96,548,488. Total bonds J a n. 1, 1889, $2,913,000, ot which $1,943,0 00 for water; sinking fund, &c., June 1888,· $316,019. Sinking funds are provided, and all old issues except the general bouds due 1896 may be called 1n and paid by sinking f und at the rate of 5 per cent annu~lly; holders were misled as this was not stated in the bonds. Population, 71,440 in 1870; 1n 1887 (estimated), 180,000. (V. 48, p. 827.) IUlnneapoUs, Mlnn.-Total fundel debt March 1, '89, $ 6,124,500, sinking fund. $42E>,823. In 1 889, valuation, $127,06!),756; valuation (about 6 6 2-3 per '}ent) in 1888: real estate $106,007,275, and personal $21 ,062 ,480-total, $127,069,756; in 1886 total valuation, $107,873,159; ta x rate $20 60 to $22 50; in 1885 total1 $77,468,267; in 1880, $28,013,315: tax rate, $16·10. Population, 46,887 in 1880; 170,000 (estimated) in 1888. Mobile. - Valuation of real and personal propert.v in 1883,. $15 ,350,738; in 1881c, $13,578,347, in 1885, $13,763,S 'l~; in 1887, $13,390,3ll; in 1888, real estate, $3,600.6 :iO; peraonal. :i;J,554,202; and city t ax rate, $13 50 per $1,000. Population 35,000 m 1885; 31,21H in 1880; 32,034 in 1870. (V. 48, p. 99.) Nashvllle, Tenn.-Total bonded indebtedness Octob er l, 1888, was $2,318,::!00; assessed valuation, 1888, real estare, $20,236,700; personalty, $8,391,750; tax: rate per $1,000, west 1:1ide river, £15; east side, $14. 1881 valuat'n $15,2-19,575. Pop., 43,350 in 1880; 25,865 in 1870;. CITY SElJURITIES. JANUARY, 1890.] 11 Subscribers will conCer a great favor by giving lmmedlal ~ notice ot any error discovered In the•e Table•• DESCRIPTION. For explana tions see notes on first page of tables. New Brunswick, N. J.--(Oont'd).- Commissioners of streets and sewers._ ••... __ . do do Nev, Haven , Oonn.-Sewerage ________ ·--------·· Date of Bonds. .... is11 :Bonds (10-20 b'ds) reduced to 4 p. c. in 1887. 1877 Sewerage bds. (pay'le $15,000 y'rly from '95). ]883 Boul'v;,i rd 11ewerb'ds (pay. $25,000 from 1902) 1887 New Orlean s-Com,ol.debt , $623,00o,Crossman. 1852 to '69 Consolida t e d debt, extended .••.. __ . _......... 1852 to '69 Judgmen t b onds, r ed. at 100 on notice. _•..•.. 1884 Certi:fl.cates lio fund coupons, red. at 100. _.... 1883 Railroad debt (all extended except $69.,000) _. 1854-75 Funding loan of 1869 ($27,150 ext. to l 922). 1869 Funding l o4.n of 1870 ($23,300 ext. to 1922). 1870 Park bond s (mort. on parks) .. . ................. 1871 & '84 Je1ferson City (debt assumed) extend'd .... - .•. 1857 Premium. b onds (in exchange for other bonds) 1875 Water Works ($72,400 extended to Jan. 192&) 1869 Other old b onds (mostly ex. to 1922 & 1923) .• 1857 to'73 New fundin g bonds ($20,000,000) ...... .. -··· 1888 Newport, K y -Bonds $15,000only, due 1894. .. 1870 &'74 Bonds f or water works . ...••...•. . .• . __ •.•••••• 1871 to '74 Renewal 20-yr bonds, $20,000 are 5-20s ...... 1883 to'89 Bridge b onds . ••. _______________________ , ....... 1886 New York-Armoz bonds .•• .- ................... 1884 & '89 Assessment bon s ............................. . 1884to '89 Assessment f und stock .••. _.•••.••.•••..••..••. 1868 to'83 Additiona l new Croton .Aqueduct stock ........ 1872 to'77 Croton w ater stock.-···._ ............... _... ___ 1847 to'52 Additional Croton water stock . . . .. ......... ____ 1871 to'89 Addition al w a t erstock, red'm'ble after 1913 • 1883 to'84 Additional Water stock ..... - ... , .............. 1885-9 Croton w ater main stock ...................... . 1871 to'81 Croton R eser v oir bonds ..•.......•..••.•••..••. 1866 CentralPa r k fund stock·-··········--····-··-· · 1856 to'58 do do 1865 to'71 City improvement stock· -- · ··-··---····---··--· 1869 to'78 do d o (cons. , $687,803red. aft.'96) 1876 to'80 City impr. stock (cons. st'k) ....•...•..••. c. & r. 1874 City par.Ira improvement fund stoek .. _•.. __ . . . 1871 to'80 Consolidated stock, county .••..••....••. c. & r. 1871 &'72 do city __ __ ______ · -·--···c. &r. 1871 &'72 do d ock bonds . ..... ___ _o, & r. 1871 do cir pks. impr. fd. st'k, do .. 1872 do re . aft.1908 . ••. ,_ .. c . & r . 1878 do city ................. . c. & r. 1874- '75 do city.---· · ....... -··--··· .... 1872 to'74 do county (A &B) .......... - .. 1874 do 1 874 city (B & C) ._ .. --··--·----· do 1876-'77 city (DE & Fl .... ---···--· do cit y (G K L & M) .......... . 1877 to '8 4 city. __ .. _....... ___ . __ . . -- · do 1880 do consol. st'k (Riker 's Isl'd) .. 1881 do (Harlem River Bridge) .... 1886 to'o9 Dock bonds . ••..••...•.. _.. ____________ _________ 1870 to'89 Consol. stock (Metropolitan Museum of Art> .. 1884-'8U .Fire D epartment stock .• •. • .•... __.. _•.. __ .. __. 1 869-' 70 Gansev oort Market cons. s tock, rev. bonds ... 1887 & '8 8 Market stock._ ... __ .. __ ..•• . ..•. . -··._ ... __ . . _. . 18 67 to ' 69 Museums of Art and Natural History stock . 1873 t o'81 N. Y. City b d s .f or const.of bridge o,.IlarlemR. 1879 to'8 4 N, Y Bridge b onds ..... . ....... -·--···--···---· 1869 to '75 do do Consol. stock, redeem. after '96 ..... 1876 do do $500 ,000 af. '96,$1,421,900 af 1900. 1876 t o'80 do do $ 7 50 ,000 af. 1903, $416,666 af. 1905. 1880 to '83 Ninth District Courthouse bonds .••.. __ ....... 1871 Normal school fund stock_, ____________________ 1871 & '72 N.Y. Co. Court house st'k, Nos. 1, 4 & 5 . . ...... 1862 to '82 N. Y. and W estchester Go.improvement bonds 1871 Public school building fund stock ..•..••... _... 1871 to'74 Sohool H ouse bonds . ••.. _.. . ................ __ . 1884-' 89 Soldiers' bounty fund bonds ....... _........... 1864 1865 do do No.3·-·--····-·•· · Soldiers' b ounty fund red.bonds, No. 2 .••..•• . 1865 Tax relief b onds, No. 2 .• _... ··- · . ..... .. c. & r. 1870 Third D istlic li Court-house bonds ..... _____ ·.... 1874 to'77 Water st ock of 1870 ________ _... · ---····-····--· 1872 Debt of a nnexed territory of Westchester Co . Cons. s tock ($190,000 due Nov. 1, 1913) . .... 1887.& '89 1889 Cone. stock(newparks) red. 1909>-----··-···· 1889 Consol. et( c k , repaving - - ······-·······-·--··· Norfolk, Va.-Bonds ($413.400 due 1914) ... c&r 1870-'84 Bonds of 1881. ____________ ··- · ·--- · -·· · -·---c&r 1881-'86 Trust and paving ($l89,300 due 1893). __ ____ c 1872-'73 1887 Bond s , ___ __ __ _ ·-···-- · --· -·------··------···· · 1st M. water works ($500,000du e May, 1 9 0 1) c 1871 Size or Amount par outstanding. Value. .... $1:ooo 1,000 1,000 1,000 1,000 1,000 1,000 5 &c. 1,000 50, &c. 50, &c. 1,000 20 .... .... ---· . --· ---· . -·· . --· ·i,-oo 500 500 500 100 500 500 500 500 100 100 100 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 100 500 100 500 500 100 500 500 500 500 500 100 500 500 500 100 100 100 500 500 500 500 500 500 500 100 & ~. 100 &c. 100 &c. 500 500 $484,100 375,500 499,000 150,000 150,000 175,000 816,000 3,489,000 1,188,604 1,76='>,!'>0 J 397,000 567,750 375,750 249,000 41,500 6,84'3,440 82,400 245,077 m 75,000 800,000 154,000 38,000 1,585,000 3,823,000 1,393,650 1,331.300 321,400 6,609,000 445.000 21,100,000 5,196,000 20,000 674,300 1,766,600 4,1 8 6,315 70l,419 820,000 4,799,000 8,885,500 4,252,500 1,000,000 8 62,000 6,900,000 1,564,000 2,455 ,000 1 ,6 80,200 6,324,700 1,858,34 9 9 04,0 00 2,800,000 1 80,000 2 ,83 5,000 14,3 03,000 267,000 521,95:-J 503,71-5 296,000 9 58,000 499,500 1,500,000 500,00C 1,92t,900 1,166,666 300,000 200,000 953,000 30,000 636,000 3,175,000 500,000 745,800 376,600 3,000,000 398,000 475,000 62 6,000 547,000 9,457,000 1,000,000 857,59 , 695,000 290,800 37,500 640,000 INTEREST. Rate. When payable Princi~al-When ue. Where payable and by Whom. M.&N. New Bruns'k Nat. Bk., N.J. do M.&N. do City Treasurer. A.. & o. J. & J. do do do J. & D. Semi-an New Orleans. 6 do Various 6 do J. &D. 5 6 J. & J. do do 6 Various do 6 &7 M. & 8. do 6 &7 J. &D. do 6 &7 Various do 6 J. & J. do 5 do 5 &6 J .. &.J . 6 to 10 Various do 5 or less J. & J. Various 8 ... 7·3 M.&N. 5 .J & J. 4 J. & J. .... 2!g & 3 M.&N. 3,312,212 M.&N. ~.g 4,5,6 & 7 M.&N. ~A 5, 6 &7 M.&N. 5&6 Q.-F. 212to6,7 M.&N. 3,312 A. &O. 219,3,312 A. & 0 . 4,5, 6&7 M. & N. 6 Q.-F. 61i1 5 &6 Q.-F. 'S~ 6 Q. - F. _ 5,6 &7 M. & N. 5 &6 M.&N. o;l 6 g. M.&N. -+" a, 5,6 &~7 M.&N. 6g. J. & J. 6 g . J . & J. 6g. J. & J. oo -+" a, 6 g . J. & J . 5 g. M.& N . 'do 6g. M.&N. <D6 &7 M.&N. 7 J. &D. ~~ 7 J . & D. c.o i:i. 5 &6 M. & N . ~ -$ 4 &5 M.&N. e'I 4 M.&N. •O ,b:10) 3 M. & N. ~~ 212&3 M.&N. 2'2 to 7 M.&N. P=lA 2½! & 3 M.&N. -+,:l aj ~~ M.&N. 6 Zo M.& N . 3 6 &7 M.&N. ~~ 4,5 &6 M.&N. $~ 3,4&5 M.&N. <tl"d '°'° M . &N. 6 M.&N. 6 Q.-F. 5 ~,Q 4 &5 M.& N . $§ M.&N. 7 i§' M.&N. 6 l>,O 4,5,6&7 M.&N. ci! 0 M . &N. 6 i:i.-o 6 M.&N. -+"tio 212&3 M.& N. a,~ l.\L& N. 6 cD .cl M.&N. 7 $+" M.&N. 7 M.&N. 7 A~ 5 &6 M.&N. O<D 6 &7 M.&N. 0,~ Cl.,_ Various 7 212&3 M.&N. 212 M.&N. 212&3 M.&N, Various Balt.,Brown & Lo's &Nor. 6 do A. &O. do 5 do A. &O. do 8 Norfolk. M. & 8. 5 5&8 M. &N. New York and Norfolk. 7 6 7 4 319 312 r-&A. .... ··-·· ..... ---· -...... ---····· ...... ---· .......... ..... - ---· .s-= j.S =.s 6~ t-;a :~ =(t) ..,.:a -!~ .s~ ~i =-o ~§ ~o .s § 8~ Il 1894-1898 1898-1906 Oct. 1, '91&1901 July 2, 1897 lb95 to 1904 Dec.,1902 to 1908 Jan.1, 1892 1922 & 1923 June 1, 193.J. Jan. 1,1893 1894to 1923 1894 & 1922 1895 &1922 Feb. 1904 & 1923 1922 & 1923 When drawn. 1899 & 1923 1892 to 1923 1918 1894 & 1900 1894 & 190 l to '03 1903 to 1906 July 1, 1911 Ang. 15.'94,04,'07 Nov.1,1890 to '9 4 1903& 1910 Aug- 1, 1900 Fe .1,1890 1891, '99 & 1904. Oct. 1, 1933 Oct. I, 1904, '5& 7 Nov. 1, 1900-190 6 Aug.1,1907 July 1, 1898 June l, 1895 Nov. 1, 1892 1900 & 1926 Nov. l, Us96 1901-1904 July l. 1901 July 1, 1901 July 1, 1901 J a n. 1,1902 Nov .1,1896 Nov .1,1928 Nov . 1, 1894: Deo. 1, 1896 Dec. 1, 1896 May 1 , 1916, & 26 Nov. 1,'93, '97 •~9 Nov. 1, 1910 Aug., 1894 Nov. l, 1906-1909 Nov. 1 , 1901-1919 Nov. 1 , 1905-1913 Nov.1,1899 Nov. 1, 1907 &'09 May 1, 1894 & '97 Ma y 1, 1903 Nov.1,1891 N ov.1, 1905 May 1, 1926 M a y 1, 1926 M a y 1, 1928 Nov. 1, 1890 Nov 1, 1891 Nov. 1, 1890-'98 Dec. 1, 1891 Nov.1,1891 1 894.1897 & 1908 Nov., 1890 Nov. 1, 1895-'97 Nov. 1,1891 Nov. l, 1890 Nov.1,1890 Nov. 1, 1902 1890 to2147 Nov.1, 1907 &'13 Nov.I, 1909-1929 Nov.1,1909 July, '94 to 1914, 1911 to 1916 Apr.• '92, July,'93 Sept. 1, 1917 1901,1914 & 19Ui Newark.-Total funded d ebt, excluding water debt, Dec. 31, 1888 i nt. for an amount not exceeding $20,000,000, to retire by purchase or was $7,61 8,0 -: 0; the temporary debt was $1,514,012; and the sinking exchange the outstanding bonds and certificates. Valua tion of property, fund amounted to $2,638,945 ($237,222 cash, rest loans and bonds at real and personal, in '80, $91,117,918; tax rate p er $1,000, $18·20 par, mostly thot!e of the city itself). The Aqueduct bonds are not in '85, $123,929,268; tax rate $25·40; in '86, $127,705,853, tax rate a direct liabilit y of the city. Real and personal property have been as- $20·20; in 1888, $119,361 ,801, tax: rate $20 ·20 (city expenses tax sessed a t about two-thirds of true value as follows: 1884, real estate, $lo; premmm bond tax, $ 5 ; redemption interest, &c., $ '> ; park bond $72,456,775; p ersonal, $18 ,524,775; tax rate per $1,000, $20 30; 1885, ta1e, $0·20; in t889, $129,286,507); ~ax rate sa~e as in 1888: A scheme real estate; $74,189,110; personal, $18,730,160; tax rate, $19 30. In ror settling the debt by a bond premium drawmg plan la m practice, 1887 total valuation was $93,090,5J3, and ta x: rate, $20·20. Popula- and drawings take place Jan. 31, April 15, July 31 and Oct. 15 Popula.tion in 1870, 10 5,059, against 136,508 in 1880, and 155,000 in 1885.- tion in '1:30, 216,090. (V. 47, p. 50, 170, 472; V. 48, p.189; V. 49, p. 2 69, 539.) (V•.49, p , 114 I New Bedford, 1'.lass.-Debt Jan. 1, '90, $1,483,450. Pop., 35,000 Newport, Ky.-Total funded debt Jan. 31, 1839, was $1,042,500, of In '8 6. As sessed valuations in '87 were real estate, $17,372,600; personal property, $15,309,694; tax rate, $17·40. In 1889 were real estate, which $:hl0,000 was water debt. Assessed valuation (about twothirds true value) in 1887-personal property $605,716, real estate f18,9~8,b 0 0, a nd personalty, $15,718,866; tax rate, $17·10 per $1,000. $7,023,84.0; ta x: rate 1882 to 1887, inclusive, $20 00 per $1,00:>; popNew Brunswick, N. J .-The fl.seal year ends March 31. In 1888 ulatio.u 1 880, 20,433; in 1887, estimated 30,000. the asses8ed va.luation (of about 13 true value) of real estate taxable was New York Clty.-The following statement shows the details of $4,4 H ,< 6 5 : p ersonal, $2,060,060; tax rate , $38·50 p er$1.000. Bonds held by sinking fund March 4, 1889, amounted to $130,000. The city fUnded d ebt and the amount in the city sinking fund at the dates named: finances a re now under able and conservative management, and the acDescription. Jan. 1, 1888. Jan.1, 1889. Jan. 1, 1890. tual net d ebt is decreasing. On April 1 the statement wail as follows for Total funded debt ....... $128,263,719 $132,445,095 $141,839,028 :five yea r s : Cn 1 885, net aebt less cash and sinking funds, $1.561,100; Sinking fund·-······--·· 39,522,484 41,434,690 45,638,142 in 1880, $1,526,134; in 1887, $1,508,882; in 1888, $1,473,315; in 1889, $1 ,-!56,827. $96,200,885 Net funded debt..... $88,746,235 . $88,010,405 2,462,187 . 4,554,346 3,302,730 New Haven, Conn.-Bond funds, $156,159. Population in 1870, Revenue bonds.......... 50,840; in 1880, 62,b82; in 1888 (estimated), $95,000. Assessed valuaTotal net debt._..... $93,300,581 $91,313,135 $98,663,072 tion (about 80 p er cent of v alue) tax t ate per $1,000, &c., have b een: 'l'he population of New York, by the U.S. Censui!, in 1870 was 942,292, Years. R eal E state. P ersonalty. Rate of Tax. Tot. D'bt. Skg.Fds.&c. 1886 ..• . $ l3 ,500 ,000 $ 17,500,000 $11 00 $799,000 $134,784 and 1,206,299 in '80. Jan. l.z '65, and since Jan., '72, the valuation, rate 1887 ·--- 4 0 ,000,000 21 ,000,000 11 00 9 74,000 156,159 of t a xation, and n et funded aebt at end of year have been as follows: 1888. ___ 42,000,0 00 22 ,000,000 11 50 974,000 R eal P ersonal Tax p . $1,000 Net Dabt, Est ate. Estate. State. Citiy. Dec. 31" Ne-w Orleans.-Total bonded debt June 30, 1889 (as ab ove) was Y ears. $16,3~5 ,8 61; tioatlng debt, judgments, &c., $ 613,348; total, $17,- 1879 .•••.. $91 8, 13~,330 $175,934,955 $3 43 22 37 $109,425,414 201,194,037 3 12 22 13 106,066.~40 009,210, not including the G aines judgment. In June, 188 2, new 6 1880.... ·- 942,571,690 198,272,582 -22 50---' 109,388,483 -per cent 4.0 year b onds were issued for all old bonds other than premi- 1882 ...... 1,035,203,816 ums; the extended bonds running till 1923, but redeemable after 1895. " Less sinking fund In 1888 the city was authorized to issue bonds bearmg 5 per cent or less https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. 12 [VOL. L. Subscribers wUl conCer a great f'avor by giving Immediate notice of' any ~rror discovered In these Tables. DESCRIPTION. For explanations see notes on first page of tables. Date of Bonds. Norfolk, Va.-( Oontinued.)Sewer, &c., bonds (exempt from city tax) .. c 1889 Omaha, Neb.Bonde ($66,100 are 7s, due Nov., 1900)....... 1880-'83 New bde, $25,000 due yearly, 1890 to '97 incl, 1888 Funding and Sewer bonds............. . • . . . . . . 1882-'87 Sewer bonds........... .. ....................... 1886 Paterson, N. J.-Sohool bonds ..•..••............ 1859·70•73 Funded debt bonds, $5,000 due yearly... . . . . 1871 Sewer bonds ($90,500 5s).... . . . . . . . . . . . . . . . . . 1869-'82 Sewer a.ppr. bde., $11,000 due y'rly fr. 1900. 1887 War bounty bonds (about $ 20,500 due yearly) 1864-'65 Renewal bonds, series B, C, D, E, F, G, H..... 1877-'88 Park bonds, payable yearly after 1907........ 1888 Peoria, llls.-Boun ty loan........................ •••• P. & R. I. Railroad loan ...........•.....••• ~.. . ... School bonds............ ........ ........ ....•. ..•• Water loan...................................... •••• Ph.iladelphiar-Coneolidated city loan........... . ... Bonds for railroad stock subsidy sub1:1oript'ns 1855 do for water works ........................ 1865 to '71 do for bridges .............................. 1860 to ·75 do for park and Centennial. .....• . ........ 1868 to '70 do for war and bounty purposes ..•..•.•.. 1862 to 65 do municipal, school, sewer, &c ........... 1860 to '70 Guarant'd debt, gas loans,$980,200 due '99 . . . 1868 to'74 New fund'g ("H"·"Y")$400,000,due yly.af.'8fl 1879 Pittsburg-Water exten. loan .........••..•.. c&r 1868 to '74 Water loan ..........•...•..................... r 1878 Funded debt and other municipal bonds ...... 1845 to '72 Compromise railroad bonds ........•••.... c&r 1863 Funded debt Imp. bds(7_7JOOOonlydue1912Jc&r 1882·'83 Improv. bonds (Act of may 9,'79) ........•. c&r 1885 Portland, Me.-Loan to Port. & Rochester RR. 1872 do Portland & Ogdensburg.... ......•... 1872 Municipal-proper and notes.................. 1867-79 Funding loan (red. on or after July, 1902)... . 1887 Pr01ndence, .R.1.-War loan bonds ........... c&r 1863 Water loan bonds, gd. (f 820,000 are 6s, op.).. 1872-74. do do ................... c&r 1876 do do gold coupon ...... o&r 1886 City Hall & sewer loan b'ds, sterling ....... c&r 1875 do loan of 1879 ............ c&r 1879 Pnblloimp. loan ($450,000 due 1899) ......•. r 1879 Prov. & Sprmgfleld RR. bonds, guaranteed... 1872 Quincy, Itt.-Bonds ............................ r 1866 to '77 Miss. & Mo. RR................................. 1870 8 188~ l~88 Bic111m1Jnd, Va.-Bonas .• •••••...•••••••••.••. c&r . ••• Bonds reg. aLd coup. ($213,500 are coup.). . . •• • New tl.ves, 10-34 years ..... ~....••............ r • • •• Bonds ($276,000due 1920.~$152,700due'21)r ...• .Bond .......................................... r 1889 Rochester N. Y.-To Genesee Valley Railroad . . 1872 To Roch. & State L. and R. N. & P. Railroads . 1872 to '74 For city improvements ($335,000 due 1902) .. 1872 to '75 Water works loan, coupon and registered ...•. 1873 to '76 Fnndin.Ji: loan................................... 1875 Consol loan..................................... 1882 Local improv. fund. loan (redeem. at pleas.) 1885 Rochester Park bonds ($300 .000)..... . ........ 1888 St.Louis-Renewal bonds($100,000onlyare7s.) 1860 to'79 Ren'w'l bds, $472,000, '95; $100,000. 'Ht:1 .•••• 1875 to '79 do $&.£($548,000 10·20s,dueJune'90 1880 do $ & £ (10·20s) ........•.........•• 1882·83-85 do 18::s7 do $ & £ ($1,559,000 due .A.pl. L0,'08) 1888 do gold(£&$)...................... 1889 General purposes ($55,000 Caron. indebt).... 1875 TowAr Grove Park bonds (~old)............... . 1868 Sewer u~nds ($200,000, Jan., '93) . •••..•.... . 1869 to'75 Newwat.w'ks,~.($450,000, June,'90 c'y treas) 1870 & '72 Refunding water pipe, special tax, gold,$ & £ 1874 Floating debt................................... 1874 Real est., g. ($21:,000 5s'90,$245,000 6s 1906) 1866-75 Bridge aoproach bonds (gold)................. 1872 Bonds for st. L. Gas Light Co., judgm't.£ or $ 188:i 8t. Louis Co. bds. assumed, genl. purposes, g . 1872 do do Park bonds, coup., gold 1875 BL J08ep11,, Mo.-Funding bonds.... ..••.•...... 1881 Fllnding bonds................................. 1883 Bt. Paul, Minn.-Bonfua, $75,000 due Feb., '90. 1860 to '7b Bonds ($60,000 due Oct., 1895)......... .. . . . . ~~~a:·($is4·.oco:·a:ue .iiios·int:Juiy'ir::::~r Size or Amount par outstanding. Value. ---· $500 $70,000 1,000 266,lfO 217,000 877,000 100,000 46,000 55,000 208 ,500 65,='>00 229,500 418,000 125,000 42,000 100,000 77,500 417,000 422,800 1,182,000 4,<'94,000 4,728,200 8,303,200 11,708,000 16,079,020 3,500,500 6,204,975 4,282,500 300,000 1,226,000 2,179,223 1,480,000 3,734,700 416,000 1,200,000 739,500 727,000 300,000 4,000,000 1,500,000 483,000 1,397,250 600,000 596,000 500,000 1,209,000 100,000 35,400 334.000 1,943,493 1,179,700 2,015,050 478,7~5 43,700 120,000 750,000 4 84,000 . 3,182,000 410,000 100,000 150,000 200,000 2,526,000 .... 1,000 500 500 500 · 500 500 500 • ••. . ... . .•. • ··&·c. 50 50 &c. 50 &c. 50 &c. 50 &c. 50 &c. 50 &c. 50 &c. 25 &c. 100 &c. 25 &c. 500 &c. 100 &c. 100 &o 100 &o. 500 &o. 1,000 500 &o. 1,000 lOOO&o. lOOO&o. lOOO&c. 1,000 £100 lOOO&c. Large. 1,000 100 &o. 500 lOO&c-. • ••• • .•. • ••• . ••• •••• 1,000 lOOO&c. Various lOOO&o. 1,000 5,000 5,000 5,000 1,000 1,000 1,000 1,000 Various 1,000 l,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 500 1,000 1.000 1,000 50 &c. 1,000 Various 1,000 INTEREST. When Where Payable and by Pay'ble Whom. Prinoipal-Wbe:11 Due. · _____ ,___ -·--•----------- -------- 1,a4o,ooo 1,024,000 913,000 2,840.100 3,544,000 276,000 555,000 340,000 336,000 1,700,000 800.000 900,000 4.65,000 461,000 950,000 600,000 1,900,000 763,800 ~0!!,000 249,675 113,000 Rate. 5 J. & D. Norfolk. May, 1919 6 &7 6 5 412 7 7 5, 6, 7 4 7 4,412 & 6 4 412 412 4, 4½!, 7 4125,6g.7 6 6 6 6 6 6 6 6 4 7 6 5, 6 & 7 4 &5 5 Various Kountze Bros. 1900 to 1903 Semi•an do do July, 1890 to '97 Various do do 1902-1907 F. & .A. do do Aug., 1906 J. & D. City Hall, by Treasurer. 1890-1904 J. & D. do do 1890 to 1900 Various do · do 1890 to 1902 J. & D. do do 1900 to 1905 J. & .D. do do 1890 to 1900 Various do do 1901-1916 A. & o. do do 1908 to 1912 III. & N. N. Y., Mercantile Nat. Bk. Mar. 1, 1902&'03 .... ········-· July 1, 1908 .... lb9 r.-1908 Various N. Y., Mercantile Nat. Bk. Aug.1, 1890·1901 J. & J. Philadelphia, by Treasurer. 1890 to 1904 J. & J. do do 1890 to 1903 J. & J. do do 1H96-1~03 J. & J. do do 1890 to 1903 J. & J. do do } J. & J. do do 1891 to 1905 J. & J. do do J. & J. do do 1899, 1900,'2,&'5 . . •. do do Deo.18 fl 0 to 1904 A. & 0 . Phila., Townsend, w. & Co. 1893 to '98 J. & J. do do 1908 Various Pittsburg and New York. 1893 to 1912 J. & J. New York, B'k of America. 1913 . . .. Pittsb'r15 and Philadelphia. 1912·1913 4 J. & D. Pittsour~, Treasurer. Dec. 1, 1915 6 J. & J. Bos., MaveriokN.Bk.orPtld July 1, 1897 6 M. & 8. do do Sept. 1, 1907 6 m'nthly Boston, Mav., Bk. & Port. 1890 to 1897 4 J. & J. do do July 1, 1912 5 J. & J. Providence. Jan. 1, 1893 5 & 6 g. J. & J. Boston, Prov. and London. July, 1900 5 g. J. & J. N. Y., N. City Bank, &Prov. July 1, 1906 319 g M. & S. New York or London. Sept. 1, 1916 5 g. J. & J. London, Morton, Rose & (',0 July 1, 1895 419 J. & D. Providence. June 1, 1899 5 J. & J. do Julyl,'99&1900 7 J. & J. Providence, Am. Nat.Bank. ,ruly 1, 1892 6 J. & J. New York, Julyl,l890to'99 6 J. & J. N. Y., Bank of Commerce. Jan. &July, 1900 5 M. & 8. New York. Sept. l, 1902 412 J. & J. New York. July 1, 1906 &'08 6 J. & J. Richmond, Auditor's Office. July, 1890·1914 8 J. & J. do do 1~04-1909 5 ,J. & J. do do July, 1914 to '22 4 J. & J. do do 19·W, '21 & '22 4 J. & J. do do Jan. 1, 1923 7 J. & J. N. Y., Union Trust Co .. Jan. l,'91 to 1903 7 F. & A. New York and Rochester. Feb. 1, 1893 7 Various do do Jan. 1896 to 1902 7 J. & J. N. Y., Union Trust Co. Jan. 1, 1903 7 J. & J. do Jan. 1, ).905 4 F. & A. do Aug. 1, 1912 3 J. & J . do 1890 3 J. & J. do 1928, redeem. '98 6 & 7 Various N.Y.,Bk. Com &Bk. Repub. July,'89'91'93'94 6 Various N.Y.,Nat.Bk.ofCom.&Lon. 1895,96, '98, '99 5 J. & J. do do Jan.&June,1900 4 Various do do 1902-'03·'05 3·65 .J. & D. do do Juue 25, 1907 4 Va1ious do do Apr.,1908 & 1918 312gJ. & A. N.Y.,Nat.Bk.ofCom.&Lon. 1919 6 Various N.Y., Bank Commerce. May 1, 1895 6 g. F. & A. N. Y., Nat. Bk. of Republic. Aug. L, 1898 6 & 6 g. Various N.Y.,Nat. Bk. of Commerce 1893·'-1•'5 6 g. Various N.Y.,B'kofCom.&St.LoU1s. 18~0&April1'92 6 g. M. & N. N.Y., Nat. B kofCom.&Lon. July 1, 1894 6 g. M. & N. do do July 1, 1894 5 & 6 M. & N. do do Der.'~0,'95&1906 6 g. J. & D. N. Y., Nat. B'k Commerce. Dec. 10, 1892 4. g. J. & D. N.Y.,Nat.B'ko1Com.&Lon. June 1, 1905 6 g. J. & D. N.Y.,B'kofCom.&St.LoU1s. June 1, 1892 6 g. A. & O. N. Y., Nat. B'k Commerce. April 1,1905 4 F. & A. N. Y., Nat. Bk. Commerce. Feb. 1, 1901 6 F. & A. do do Aug. 1, 1903 8 Various N. Y. Chase National Bank. Feb.,1890,'93,'97 7 .... do do Apl., ltHW,'95,'97 Real Personal Tax p. $1.000 Net Debt. Phlladelphla.-Sept. l, 1889, the funded debt was $5f.,222,o95; Years. Estate. Estate. State & City. Dec. 31.'" sln.king fund assets (City, S ta.te and Gov. bonds at par, etc. l .$26.845 ,432; 1886 . ..... $1,168,443,137 $202.673,866 $l4 00 $93,031,951 Ln the following t-A.ble the assessed value of real estate 18 nea.r its cash 1886.... .. l,2C3,94.1,065 217,027,221 22 60 90,395,63! value, and debt includes outstanding warrants. 1887...... 1,254,491,849 253,148,814 21 60 93,300,581 Yea.rs. Debt on Jan. 1. Real Estate. Personalty. Tex Rate. 1888 .... -- 1,302,818.879 250,623,552 22 20 91,313,135 1886 ........... $62,589,679 $601,001,971 $10,307,644 $18 50 1889...... 1,331,5~ 8,291 272,260,822 19 50 98,663,072 1887 .•••.••• .. : 59,840,046 619 059.9~7 10,61!} 325 18 50 The Legislature passed a law in 1885 that the indebtednes3 should 1888 ••.• ...... 58,778,213 644,063,374 3,149.665. 18 50 not exceed 10 per cent of the a.sses,;;ed value of real estate, and this 10 1889..... .••••• 57,942,935 666,324,799 3,182.765 18 50 per cent was construed by the Court of Appeals not to include the bonds 181}0. ..•• .• .••• .. ...• .••• 685,507,618 3,20J,900 ...... In the sinking :[und as a pa.rt of 1ihe debt. See tax levy for 1889 V. 49, Assessed valuations of property for 1889 were: Full oit.v property, p. 22. (V. 4.7, p. 21,532; V. 4.8, p. 452, 48l;~V. 49, p.22,115; V.50, p.7-!.) $607,258,349 (tax: rate, $18 50); suburban property, $43,493,710 (tu 'No:rf'olk, Va.-Total funded debt June 30, 1889, was $2,590,898, rate, $1~ 33); fa.rm property, $18,755,505 (tax rate, $9 25). Populaof which $ti40,000 was for water; sinking fund assets, $112,000, and tion, 1870, 674,022, against 847,170 in 1880. appropriation for 1888·89, $9,264. The assessed valuations and tax PUtsburg.-Total debt Jan. 31, 1889, was $13,203,251; net, r_.te per $1,000 were: $10,454,i66. The assessed valuation in 188i was: Real property; , Years. Real Estate. Personalty. Tax Rate. $105,404,720; personal, only $1,838,258; tax rate, 1884, $16 per $1,000 1887 ......................... $12,094,205 $1,64t.8t0 ..•.•• Valuation of real estate in 1885, $108,530,608; personal, $3,000,000; 1888..... ... . . . . . . .. . . . . . . . . . 13,315,445 1,895,360 ...... tax rate, $13. Valuation of rea.l estate in 1887•8, $132,26ti,OOO; personal, 1889 .•.•.••...•• ·····-·--···· 12,669,425 2,078,160 22·00 $2,46-1,000; tax ratfl, $18. Valuation Jan., 1889, real, $1.Ui',782,363; -Population by U. 8. Census in 1870, 19,229 ; in 1880, 21,966. personal, $1,518,332; tax: ra.te in 1889, $t-1. Population, 156,389 in Tax rate in 1889 includes State tax, $1; city tax, $18. 1880; 86,076 in 1870, and on July 1, 1887 (estimated), 205,000. Omaha.-Total funded debt May I, 1889, $1,561,100. Assessed Portland, Ille. -Total debt April 1, 1889, $ .1,082,000; smiting fund, valuation in 1838-Personal property, $4,083,8 !f2; real estate, $16,642,· 831; total, $20,726,6i9; tax rate per $1,000, $68 Ou. Assessed valua• $235,571 and $2,200, 300 of P. & Og. &R. stock, valued aG $7 i 9,175; net tion ts remarkably low (treasurer says one-eigh~h of true value), hence det>t, $2,058,353. Population in 1880h33,810; 1887 (estim'd>, 40,000• . tax: rate. &c., ave been: lax rate appears high. State taxes are levied on ~ame valuation, The assessed valuations, Real Personal Rate of Tax Tot. Deht Sinking which explains the undervaluation. Years. Estate. Property. per $1,000. M:ar.31. Funds, &c.* Pater11on, N • .J' .-Finances are apparently in a sound condition. 1886-87 .. $21,571,000 $11,862,200 $21 00 $3,942,fJOO $167,627 Floating debt March, 18!:!9, $170,000; funded debt. $1,34.3,100. The 1887-88.. 21,8W,500 11,901,540 21 00 3,437,500 146,652 assessed valuations, tax rate per $1,000, &o., have been: 1888 -89 .. 22,120,000 11,952,400 20 2() 3 ,082,500 1,0~3,706 Years. Real Estate. Personalty. Tax Rate. Debt. • These do not include the sinking funds for railroad loans. l.884-85 .... ..... $19,205,501 $3,816,500 $25 00 $1,168,500 1886·87.. .. . . . .. !!0,467, l 76 3,913,863 25 00 1,167,000 Providence, K. 1.-Floating debt Sept. 30, 1889, $1,145.603. The 1888.... ......... 21,190,410 4,217,573 25 00 1,343,100 sinJnng _fund ror bonctFI due m 1893 is $40:~,315: 1895•99, $1,187,882; -Population, 51,031 in 1880; 33,579 in 1870. 1900, $49,771; 1900-06·16, (water loan), $531,579. Sinking runds a.re Peoria, m.-Funded debt Dec. 31, 1887, $635,000; d r duot water invested in the city's bonds and notes. Net expense for water works in debt, $450,00U; net debt, $185,000. Population, 29,259 in 1880: year 1887-8was$8,003. Pop.1870,68,904; 1885, 118.070. The laws of 22,849 in 1870; in 1886 (estimated), 45,000. Rhode I sland now limit the debts of towns to 3 p. o. on assessed va.luatio.o https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY~ CITY SEOURITIEf:. 1890.l 13 Subscribers will conCer a great favor by giving Immediate notice of any error discovered In these Tables. DESCRIPTION. Ji"or explanations see notes on first page of tables. st. Paul, Minn.-Oontinucd.- Date of Bonds. Size or Amount par outstanding. Value. .... .... Bonds, $100,000 May, '98; $50,000 Nov., 99. $500&c. do $40,100 Apr., '99; $75,000 .Apr.,1904 1.000 . do $30,000 Apr.,1903; $45,000 Aug., '04 1,000 .... do $105,0CO Ap., 1908; $95,000 Mar., '09 1,0 0 0 . 1,0(\0 do $265.000 19 l 3; $125,000 l 914 .•• .. .. do $225,000 Jan., '16; $200,000 July, 'lti 1886::.7-8-9 1,000 1,000 do $55,000 Aug., 1906; $26,000 June, '07 dotoRRsi. , L. Sup. & Miss.& St. P. & Chio .. 500,&c. 1,000 do local imp.,'98,&C.park($100,000J 'ly ,'03) 1i:i,js 100 City bonds ...... .... ............................ 1890 Balem, Mass.-City debt ($325,000 6s) ..•...••.. Various. 100 &c. 100 &c. Water loan, $75,000 due Aprll, 1898 .••..•.•.. 1868-9 1,000 do ..................................... . 1878 500&c. 1864 Ban l!'rancisco-Cen. Pac. RR .. drn atlOO cou.(g.) 500 &c. Western Pacific RR., dr'n at 100, coup. (g.) .. 1865 500 &o. School bonds .................................... 1870 500 &o. School bonds .................................... 1874 Park improvement bonds ..•..•••.••..••...••. 1872 to'75 500 &o. Hospita bonds ................................ 1871 to'73 500 &c. 500&c. House of Correction bonds .................... 1874 City Hall construction ......................... 1875 to'76 500 &c. Montgomery Ave (special tax) .••......••...•. 1873·74 Dupont St. (special) (Act March 4, 1876) ..... 1876 lOO&c. 1879 Bat,annah, Ga.-Compromlse bonds of 1879 .•.. 100 &c. C0mpromise bonds of 1883 .................... 1883 Somerville, Mass.-Bonda ($10,000 512s, 1904) .. 1876 to '85 Various. Bonds ... .................................... . ... 1886 to '88, 1,000 .... 1,000 oringfteld.Mass.-W.loan$25,f00y.'94-1902.c .... 1,000 Water loan ($775,000 are 7s, due 1903) ..... . c .... 1,000 Railroad loan, $20,000 due yearly ........... . oledo, 0.-General fund city bonds, coup ..•... 1875 to'87 .... 1877 .... Flo a tin,,; d ebt r efun 1i-:;ff/onds ..•.......•...•. Toledo & WoodvilleR · oad. coupon ........ . 1870 •••• Water works ($3,000 only 6s) ................ . '73,'74&79 Bridge bonds (redeemable after 1893) ..•...•• . 1893-'84 Natural Gas bonds . ..................... ... . 18~9 orcuter,M.-City, ($700,000 ext'ded to 1905) 1871 liO '83 500&c. Sewer debt .................................... r 1879 to'88 500 &c. Water debt ................ . ............ ....... . 1 1872 to'89 500 &o. Park debt ............. ................... ,....... r 500 &o. 1888 --· . --· s .... ---· " https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rate. Where P-wiiable, and by om. Prinoi:£,a.1-When ue. ·-·· ..... $195,500 N. Y., Chase Nat. B a.nk. 7 '98. '99.1903, '04. 1 18,000 6 do April, 1899 & 1904 do 106,000 5 .... do do 1903, '04 '05 &'06 7C5,000 5 .... do 190 ➔ & 1909 do 1,240.000 5 do 1913, '14 & 1915 do 41g 2,199,000 do 1916, '17,'J8, '19 do 431,000 4 do Aug.,1906, '07, '12 do 235,000 6 do 189-3 & 1900 do J .. &.J. 200,000 do July, 1898 & 1903 6 do 275,000 4 J. & J. New York and St. Paul. fan. 1, 1920 548,500 4&6 Various Various to 1H08 City Treasury. 225,000 A. & O. Apl.1,1893 & 1898 6 do do 398,500 J. & J. July 1, 1904 5 do do 140,000 7 g. J. & J . Ban F.& N. Y,, Laidlaw & Co. July 1, 1894 May 1, 1895 75,000 7 g. M.&N. do do .June 1, 1890 285,000 7 g. J. & D. do do 200,000 6 g. J & J. do d• JulJ1: \ 1894 6 g. .J. & J. 18 7 1904 475,000 do do 210,000 6 g. M.&N. Nov.I, 1891 do do July 1, 1894 150,000 7 g. ,J. & J. do do July 1, 1899 374,500 6 g. do do (!) 1,579,000 ··1·g. .J. .& J. San.F.& N. Y.,Laidlaw& Co. 919,000 1896 3,306,000 N. Y., Eugene Kelly & Co. Feb. 1, 1909 5 July 1, 1913 .- J. 348,500 do do 5 36!,500 Various Bostona.fat. Seour~l Bank Oct., 1890 to 1904. 5 444,000 Various 4 Oct., 1889 to 1907 225,000 Various Boston, First National B'k. 1894to 1902 7 975,000 6& 7 A. &O. do do April 1903 & 1905 A. &O. 80,000 April 1890 to 1898 do do 7 1,032,000 4to8 Various N. Y., Imp. & Trad. N. Bk, 1899 to 1917 July J, 1892 98,000 do do 6 May4, 1900 432,000 7·3 M.'&N. do do 1,000,000 1893 to 1899 6&8 Various do do Oct.1, 1913 2 50,000 A.& 0. do 5 do 75,000 4.lg 1919 do do 1,743.400 4,5 &6 Various C.Treas.&Bost. Mehta.' Bk. 1890 to '94 & 1905 860,000 4, 41g, 5 Various Var. 1899 to 1908 do do 1,002.r.oo 312, 4,5,6 Various 1890to 1919 do do 250.000 4 A.& 1J. A p ril 1 1938 do do Real Personal Tax per Total Assets in Sink. Years. Estate. Property. $1,000. Debt. Funds, &c. 1883 •••. $90,143,400 $31,722,000 $14 50 $9,941,188 $1,681,400 1885.... 92,887,400 31,314,600 u 50 9,568,188 1,438,328 1886 .... 97,975,900 32,281,500 14 00 9,685,817 1,701,985 1887 .... 99,754,040 3!,267,680 1450 9,767,616 1,815,811 1888 .... 100,924,720 35,837,840 15 00 10,005,417 1,964-,073 1889 .... 102,850,100 37,6 :.: 7,240 15 00 10,161,912 2,173,018 Quincy, Ill.-Total funded debt Sept. 1 , 1888 , $l.7 o2, 3 oo. against $1,~22,t 31 July 1. 1881. Assessed valuation in l8t>7 about $4,500,· 000-much below true value. Population in 1888 about 36,000. An annual sinllinp: fu, d of $25,000 is rapidly reducing the debt. There are also $35,400 5 per cents (M. & s.; due 1902. .Richmond, va~-Total debt Fea. 1889, $ 5 ,660,668. In 1888, val· uation roal $34,6G0,089; personal $14,132,532; tax: r at e, $14.. In lb8i, real estate valuation $33 9 70 131· per ,onal $l 4 360 95 2. tax rate per $1,000, $14.. In 1886, re:i.1 estate.' $33,517,80 7 ; perso'na1,'$l4,575,848: tax rate per $1,000, $14. In 1885, real estate, $32,347 ,803; personal, $13 751 666: tax rate $14. Population 63 600 in 1880· 51 038 in 13 70 . Th' d bt · li ·t d t '18 t f h, ' , d 1 ' •• L t· t e e 1s fill e o per cen o t e asses e va ue oc r ea es .1 ~Rochester.-Total funded debt, $5,400,000 July, 1889, of which water de_bt is $3,592,000. T~e bonds or Genesee V_al. RR. loan, ~124,00U, are pro~ded for b:y_net recewts rroJ?l alease_of said roa<:J. to Erie R'way. Populat10n, 89.~66 ill 1880; t:>2,386 ill 1870; m 1882, estimated, 105,000. Assessed valuat10n (60 per ct. of true value), rate of tax, &o., have been: Real Personal Tax per$1,000 Funded Years. Estate. Property. in old Wards. Debt. 1883 .... $36,166,200 $1,817,200 27, 6 5 $5,354,000 1884 .••• 37,270,850 1,77~,100 32·22 5,28 -1,000 1885 . ••• 38,563,020 2,389,050 30·98 5 a99,000 1886. ... 72,171,975 3,345,000 15·22 5;-159,000 1887 .... 72,8€0,HOO 4,529,000 16•,15 5.309,000 1888 .... 78,504,025 4,108,000 9·91 to 16·38 5 ,254,000 Real estalit valt1ed at 80 p. c. Po pulation in 1888 about 130.000. Rockland, llie.-Valuat'n of real and personal estate, 188!'), about $3 900,00U; tax rate, $26 per $1,000; 1886 valuations, $3,,88, 780; tax $22 50 per :i,1 000· 1887 tax rate $24. Population 7 599 in 1881; 7.074 in 1870.' ' ' ' ' ' · St. Joseph, llio.-PopulatioJ?- in 1880, 32.431; in 1870, 19,565. June 30, UH:!8, there were in addition to bonds given above $13,-tOO -is and $ 350 5s_ due in 1900, and the total funded debt was $1,689,500. Bond~d debt 1s reduced annually 14 per cent on valuation. The assessed valuations and tax rate were as below: Real estate. Personal. Taxp.$1,000 1883 .......................... $7,586,650 $3,678,193 $23·00 1884............ .............. 7,873,150 3,700,22t 42·00 1887 .......................... '----15,000,000-----' 21·00 1888 .......................... 12,500,00 , 6,200,000 17·n0 1889 ............ ..... ......... 12,94L,860 6,711,699 16·50 S~. Lonls.-Population by the U. S. census in 1870 was 310,864, agamst 350,518 in 1880; in 18is7 estimated at 450,000. The city and county were merged by law in 1877 and city assumed the county bonds. $548,000 renewal bonds, due 1900. are retleema.ble in 1890: $913,000, due 1902•1!-105, are redeemable 1892-1895. In addition to the bonds as given in above table, there are the following: $55,000 Cai-ondelet in• debtedness 6l-', due 1895, and $100,000 Fire De1Jt, 6s, due 1895. Assessed valua.tion of property and tax rate have been: Real Estate .--City tax per $1,000.--, Bonded. and Personal New New llmit Old Debt Years. Property. Limits. Increased. Limits. in April. 1884 ...... $211,480,710 $ 5 00 $17 50 $22,507,000 1885 ...... 207,526,000 5 00 17 50 2 2,016,000 1886 ...... 214,4i1,rno 5 oo $io·oo· 11 50 22,942,000 1887 ...... 216,917,720 5 00 12 50 17 50 22,10:i,000 1888 ...... 224,740,470 9 00 14 00 15 00 22,045,0 00 1889 ...... 227,638,860 9 00 14 00 15 00 21,926,100 .State tax $3 00, and school tax $! 00, additional. -(V. 44, p. 586; V. <15, p. 26; V. 47 p. 383; V. 50, p. 37.) St. Paul, Mlnn.-Total city bonded debt Nov. 30, 1868, $6, 188,000· l'ol)ulat1on ill 1870 was 22,300: in 1880, 41,498; rn 1888 the local estunate of population was 187,759. Assessed valuations of taxable property (50 per cent cash value) anrl tax rate have been: Personal Rate of Tax Total Years. Real Estate, Property. per $1,000. Debt. 1883 ................ $31,000,000 $12,000,000 $24 50 $2,328,040 1884........ ........ 47,000,000 14,263,565 16 00 3,027,140 1885................ 50,512,212 14,291,946 19 50 3,81!'>.640 1886 ................ 68,539,570 15,584,481 17 50 4,521,0!)7 1887 ................ 72,479,471 17,~96,37L 17 00 5,225,5<'0 1888 ................ 9!:l,474,750 1~,025,'l50 18 50 6 188 000 1889 ................ 101,183,826 18,397.998 .... ' ' Valuation of real estate is about one-half of true value rate, INTEREST. When Pay'ble ··-· .... .... ··-· ·-· i-F. ....... --- I Salem, lliass.-Total debt Dec., 1888, $1,270,493, including munlcipal loan $549,500; water loan, $623,500; trust funds, mostly payable on demand, $97,493. '.rhe sink:in~ funds Dec., 1888, w~re $374,205, oonsistillg principally of City of Salem b onds; net debt, $896,289. Population. 27.563 in 1880; 24,117 in 1870. Tax valuation in 1883, $25,614,115; tax:rate,$16. In 1885 real estate valuation, $12,83L,300; personal, &o., $12.234,830; total, $25,066,130; tax rate, $16 50. In 1886 valuationofrealestate,$13,283,500; per;;onal,$12,9 37,024; total1 $26,220,523 ; _tax rate, $_15 50. Iu.1888, _real estate, $13,773,600, ana personal &c.,$12,601,728, tax rate (moluding State, school, etc.), $L6 00 San Franclsco.-Population, 233,959 in 1880; 149,473, in 1870. Thti Montgomery Avenue and Dupont Street bonds are special issues chargtable only on the assessment of property benefitted, and suits !lore !n progresE> to determine their legal status. The decision h1,1.s been m favor or the bondhold~ra, but t~e case_ w ~s appealed to the U. 8. dupreme Court and remams pending. Sinking funds on hand Oot, 5, 1887, $1,020,080; net_ funded debt $1,209,920.. .rhe following val}l&ti_o1;1-s are made by the mty and co_unty, the valuations by the State beillg different, but the tax rate below illCludes that fo1• State purposes: Realtv. Personalty. Tot. Tax Rate. $59,013,672 $15 75 1884_85 ............... $ 164,495 ,888 188,}-86 ..... .. .. .. . . • . 171,416,426 56,192,922 15 95 1886-1:!7. ••• . . . . . . . . . . . 175,409,145 54, 741,8 o4 15 71 1887-88 ... ............ 191,618,454 60,1 27,657 17 56 1888·89 .. . . . . . .. . . • •. . 211,467,987 61,921,629 -\V. 48 p. 189.) ' _sa:vannah, Ga.-Total funded debt Jan. 1, 1889, $3,676,400. Smlnng fund m 188 7 p11rchased and canceled. $32,30J bo~ds, but no uond:i are drawn. Default was made on _interest Nov. 1, 1876, ill oonsequence of J'."ellow fever aD:d non-collect10n of taxes, and compromise bonds were issued on cert arn terms. Assesseo. value of r eal estate and tax rate each year have been as follows: In 18~1, $10,500,000, $25; 1882,_$10.650,000. $30; 1883, $10,9~0,000, $30; ill 1884, $1~,500,000, $30; ill 1885, $13,000,000, $2 l 25;. m _1886, $13,400,000, $21 25: in 1887, $13,700,000, $21. 25. Population ill 1870, 28,235, against 30,709 in l880. · Solllervllle, lliass.-Total debt, .Jan ~. 1889, $8_6 0,500, of whioh $~38, ;)00 was water deb~. The large re~uct10n ?f de_bt m 1888 to May 1 ($652,500) w i; s accompltsht:d l?Y applym~ entire s11;11rtn~ f!-1-nds to its 11ayment. ProRerty valuat10n m 1882, $~3,162,200, in L88:J, $23,812,900; in 1884, _$24,331,100; ~ 1~85, $20,907,700; in B86, $26,003,· 2,0~. Tax rate ill 1886, $15 40, in ~887, $14,80. In 18-38 ~ea.I estate was ~2o,488, 200; personal, $2,274,800, and ta:' rate, $14 00. ~ ~roperty 1s assessed at fuU value. Population 29,992 in 1885; 14,680 ill 1870. · Springfield, lliass.-Total funded debt, .Jan. 1, 1890, $1,316,000t (against aoout $2.007,375 in 1876): deduct water debt, $1,200,000t net, $116,00u; cash assets, $138,172. The railroad debt falls due $20.000 each year. There are $JO,OOO notes and $6,000 6s due in 1890, 18~1 and 1892 outstanding. Population in 1890 estimated at 43,000; 1870, 26,70;j. Tax valuation and rates have been: Personal Tax rate Years. Real Estate. property. per $1,000. 1881 . . • • •. • •• . • •• . $23,795,920 $8,935,850 12 50 1885 .............. 26,969,800 8,827,966 12 80 Ld86 .............. 27,638,760 9,143,4'12 12 80 1887... .... .... ... 28,566,280 9,416,384 13 80 1888.... .... ...... 3 v,3:!3,140 9,540,115 13 60 1889...... .... .. •• 32,000,680 10,072,895 • 13 <. 0 • Tax: rate for 1889 include!', State tax, $0·69; county tax, $0·76; city tax proper, $11 ·55; total, $13·oo. Valuation of real estate is about 75 per cent of true value. Toledo.-Total f ,mded debt Sept. 1, 1889, was $3,230,000. Sinking fund assets, $165,000. In addition to bonds as given above, there are $29,000 t3s, d e 1891 and 1892. and $60,000 5s, due ht 1895 and 1905. Taxablf valu<1.tioG (t O percent). real esta.~$22,179,770; personal, $8,118,620; total valuation, $30,29:i,390; tax rate, $28; 1887. real, $22, 559,910: personal, :fH.2-l2, -1:}0; total, $30,802,3\)0; tu ra te, $2~. Valuation, 1888. rt,al, $23,150,62 1; persona.I, $9,467,100; ta.x: rate. $27; (city. $L:i 50; sohoo1, $5 30; State. $2 90; county, $5 30); 1889, real, $23,256,62v; p er•ona.l, $9,476,150; total. $32,723,770; tax 1ate, same as in 11'88 Population. 50.137 in 1880: 31.584 in 1870; in 1889, esti• mated.100,000. -1V. 49, p.374; V. 50, p.108) Worcester, lliass.-·. rotal funded debt, Deo. 1, 1889, $3.855,700, of which :tit:s02,300 was water debt Sinking funds $1,045,773; n6t debt, $2,809,927. Population., 80.000, estimated May, 1889; 5d,2~1 in 1880; 41,105 in 1870. Taxvaiuation in 1883. $48,570,a35; tax rate, $17 20. In 1884,$50,773,4.75: tax rate, $16 60, In1885, $52,714,910: tax:rate, $ LS. rn 188R, real, $50,333,350; personal, $14,164,286; tax rate. $16. In 18~9, real, $5i,4< 6,700: pt>r,-onal, $13,747,300; total, :B63,15L,950; tax ra· e, $16. Property assessed at actual value. Tax rate includes State and county taxes, and it! for ourreat year in each oa.se. • ALABAMA MI RAILWAY & CONN https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, 1890,] .RAILROAD STOCKS AND BONDS. HJ Subscribers will confer a great Cavor by giving lm,nedlate notice of any error discovered In these •.rables. DESCRIPTION. For explanation of column headings, &o., see noteR on first page of tables. Miles Date s· INTEREST OR DIVIDENDS. Bonds--Prinoi1ze, or Amount - - - - - : - - - - - - , - - - - - - - - - - -1paJ,WhenDue. of of Par Outstanding Rate per When Where Payable, and by Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividena. 1 290 Gen.M. sterl. £1,160,000, red. a.t 110 June 1,'98,o 290 Deben t m es, gold ......... _................. .. ...... Certificates {issued by English Co.), sinking fund. Alabama M i dland-1st M. {$16,000 p. m.), gold .. o 175 1st mort., gold, MontJto Luverne,$ l fl ,000 p. m.o"" Mont.TUFO, &Mem.R .,lstM.,gold,$18,000o.m.o* .I.la. N. O. Texas d! Pac. Junc.-lst deb.,red. at 115.c' 2d debenturel'l, red. at 100 . . ..................... o· .Alabama d! Vicksburg-Vicksburg & Meridianlst M. i4":i Consolidated 1st mort., g., \$1,800,000) ........•. 143 2d mort., inc. for 5 years, non-cum., g., ($700,000) 143 Albany d! Susq.-Stock, 7 p. o. rental D. & H. Canal. 209 Albany City loan {sinking fund, 1 J'er ot. yearly)o 142 Consol. m., (guar. D. &H. endorse on bonds)o*&r 142 Allegheny Valtey-Generalmortgage (Riv. Div.) .. c* 132 2d mort., East ext., to State Pa. (endorsed) .••. *o 110 1st mort.1 East'n Exten., ~ar. b-tb Pa. RR ...... ok 110 Funding moome bonds, with tra o guarantee. ok 259 .Allentown TerminalRR.-lst mortgage, guar .... oK 3 Asheville~ Spartanburg-lat mortgage, gold ...... c 66 2d mortgage, gold.......................... __ . ..•. o 66 Atchison Ool.<tPacific-lstM.($16,000 p.m.)guar.o• 254 Atchison Jewell Oo. <t West.-Ist M.,guar.C.B.U. P.o 34 Atchis.m. Topeka re Santa Fe-Stock ................. 7,119 New general mortgage. gold ................. o*&r 6,443 New inc. M. $80,000,000,non-ou ,J:1:.,red.atpar.o*&r 6,443 Notes secured by 2d M. for $10,000,000, &o ...... Chio.& St. Louis-1st Li. (iil0,000 p. m.) .......... i43 Alabama Great Southern-lat mortgage, gold . ..•. c 1878 1888 1886 1888 1888 1890 1889 188\:l 1884 1881 1889 1889 is65 1876 1866 1870 1871 1874 1889 1885 1887 1879 1879 isso 1889 1888 1885 $1,000 $1,714,000 £100 1,341,360 £100 6.70,000 Various. £81,935 $1,000 $2,800,000 m £ioo £100 1,000 100 &c. 100 &:}. $100 1,000 1,000 1,000 100,000 1,000 100 &o. 1,000 1,000 1,000 1,000 1,000 100 500 &o. 500 &o. 5,000 1,000 Alabama Great Southern.-(See Map Oinn. N. O. ~ T. P.)-From Wauhatohie, Tenn., to Meridian, Miss., 290 miles; leases, Waubatol.tie total operated, 295 miles. The Alabama & Chattanooga RR. made default Jan. 1, 1871, and road was sold under foreclosure Jan. 22, 1877. Present company organized Nov. 30, 1877, and is controlled by an English company of the same title owning all the stock of the .American Co. The Engtlsh company has £134,000 debentures exchangeable for genl. mort. bonds, and capital stock-common ("B" shares), £1,566,000, and pref. 6 p. o. cumulative for six years {"A" shares), £676,070; par £10. Dividend of 2 per cent was paid on ''A" shares Oct. 19, 1889. Enough of the general mortgage bonds are reserved to retire the Jirsts of 1908. The two companies own jointly$ l ,000,000 Cin. N. 0. & Tex. Pao. Juno. stock. Car trust notes outstandins- June 30, 1889, $239,502. In 6 mos. ending June 30, 1889, gross earnmgs were $875,063; net, $189,056; surplus over charges, $108,190. Gross earnings in 1887, $1,575,993; net over expenses and taxes. $474,361; gross in 1888, $1,549,293; net, $309,716. (V. 46, p. 608; v. 47, p. 255, 285,531; v. 48, I'· 763.) · Alabama 1'I°ldland -(See llap.)-Under construction, to be completed by D ec. 15, 1889, from BainbrJdge, Ga., on the Savana.h Fla. & Western, northwesterly, to a connection with the Louisv. & Nashv., at Montgomery, A.la., about 175 miles. Being extended 110 miles from Montgomery to Tuscaloosa under name of Montgomery Tus<1aloosa & Memphis RR., which company has filed a mortgage for $2.000,000. Also to be extended at an early date to a connection with the Kan. City Mem. & Birm. or the Illinois Central. In 1888 purchased the North West & Fla., Montgorqery, Ala., to Luverne, 51 miles, with which it will consolidate in December, 1869. The N. W. & Fla. has been rebuilt and will be extended 35 miles to a valuable lumber region. On it will be issued 1st mort. 40 year 6 per cent ,gold bonds at $15,000 per mile of constructed road. Interest on the 1st mort. or 1888 is guar. till Nov. 1 , 1892, by the Construction Co. (the A.la. Term. & Improv. Co.,) and $600,000 to secure same h as been deposited with the Metropolitan Trust Co., trustee of t he mortgage for $:t,S00,000. Mort~age covers all equipment and v aluable t erminal right~ at Montgomery. Parties interested in the Savannah Florida & West. own $1,050,000 bonds, and road will be operated. in close connection with that s_v stem. Stock, common, $2,625,000, and preferred, $1,600,000--par 100. N. Y. office, I. B. Newcomb & Co., 54 Wall St. {V. 48, p. 368, 547, 687; V. 49, p. 116, 268, 470.) Alabama N. o. Texas & Pacific Junction (Llmlted).-(See Map Oinn. N. 0. d! T. P.J-This is an English Co. controlling the Vicksburg & Meridian, 142 miles; Vicksburg Shreveport& Paoi.fl.o, i89 miles; N. O. & North Eastern, 195 miles; and Spanish Fort R'y, near New Orleans, 13 miles. It also controls the Cincinnati New Orleans & Texas Paoitic Railway Co. (lessee of the Cincinnati Southern Railwa:v"). The management of the company is the same a s that of the Alabama Great Southern RR. In Nov., 1887, Capt. Francia Pavy in London was appointed receiver of the English company in liquidation. The preferred or "A" shares are £1,500,000, having a preference for 6 per cent cumulative, and the deferred or "B" shar es £2,500,000; par value of all shares £10 each. The first debentures are redeemable any time at 115, and t h e seconds at par, both on six months' notice. The company holds the following securities, viz.: Cin. N. 0. & Texas Pacific .f532,000 stock; Vicksburg & Meridian, $245,000 1st mortgage, $105,000 2d mor tgage, $416,500 3d mortgage, $1,464,300 preferred stock and $363,000 common stock; of Vioksb. Shrevep. & Pao. $3,692,000 1st mort., $1,931,000 incomes and $1,594,000 stock; of N. 0. & North Eastern $4,900,000 1st mort. and $4,320,000 stock; N. O. Spanish Fort & L. RR. $300,000 1st mort. and $200,0u0 com. stock; Cincinnati Southern, f532,000 £,tock. A loan of $600,000 was authorized in Sept., 1888, for the purchase of a majority of Vic.K"s. & Merid. 2d m ort. bonds. (V. 45, p. 62, 430; V. 4·7, p. 2;)6.) AlabaJDa & Vlcksbui-g.-LINE OF ROAD.-Vioksburg to Meridian, Miss., and branch, 143 miles. It is m ainly owned and controlled by the Ala. N. O. Tex. & Pao. June. Co. The Vicks. & ~?:er. road was sold February 4, 1889, (see V. 48, p. 190), and reorganized as Alabama & Vicksburg. Of the n ew oonsol. bondl'l , $1,000,000 are reserved for the v. & M. lats. The n ew s~oonds are income {non-cum. asto earns.) !or five years, and are a first llen on the V. & M. detached lauds , and interest is payable from the sal.s of such lands ; when interest is paid from earnings these land rnl6s will constitute a sink. fund for the 2d .}f. b@nds. Trustees of mortgages, Central Trust Com pany of New York. Stock $700,000. From July 1 to Nov. 30, 1889 (5 moe.) , gross earnings w ere $27~,615, aga inst $212,692 ln '88; net, $ 88,000, agst. $57,000. In year end.in c, March 31, 1839, gross earnings w ere $527,789; net $146,260; deficit under intereet, etc., $23,867. In 1887-8 gross $547,761; net $106.000; deficit under interest, etc., $66,130.-(V, 46, p. 228, 649, 669; v. 47, p. 382, 664, 803; v. 48, p. 209.) Albany & Susquehanna.-<See Map Del. & Hud. Oanal)-Owns Albany, N. Y., to .t:Hnghamton, N. Y., 142 miles; "branches Duanesburg Juno., N. Y., to Soheneota<iy, 14 nnies; CobleskU, N. Y., to Cherry Valley, 21 miles; operates Laokaw. & Susqueh. RR., 22 miles; East Glen ville to Coons, 10 miles; total operated, 209 miles. Leased for 150 years. :from Feb., 1.870, to Del. & Hud. Canal Co., which owns $650,000 stock; rental, 7 per cent on stoolr. Additions and betterments charged to lessors, and cost made part of investment. The consoJ. mort. is for$10,000,000, of which $3,000,000 are 7 p er cents, currency; the principal of the 6a. is also payable in "lawful money," but the interest in gold. From Oct. 1, 1 88, to Sept. 30, 1889, (12 mo!'l .) gross earnings were $3,401.574, against $3,489,1: 9;} in 1887-8; net $1,457,906, against $L.469,0o3; surplus over charges, $362,110, against $438,645. Gross earnings in to Chattanooga, 5 miles https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (1) 7,128,000 2,232,000 1,900,000 ('1) (1) 3,500,000 1,000,000 10,000,000 4,000,000 2,200,000 10,000,000 9,727,000 450,000 500.000 500;000 4,070,000 542,000 75,000,000 140,734,750 78,243,314 7,000,000 1,500,000 6 g. .T. & J. N.Y.,Farm,L.& Tr.&Bos Jan. 1, 1908 5 g. J. & D. London,Comp'y's office. Deo.1, 1927 6 g. F. & A. Aug. 15, 1906 do do 4 do do By sink'gfund 6 g. M:&·N. N.Y.,Met.Tr,Co.& Mont. Nov. 1, 1928 6 g. J. & D . N. Y.,' Metropol. ~r. Co. Dec. 1, 1929', 6 g. J. & D. Dec. 1, 1929do do 6 g. A. & 0 . Last paid April, 1887. April 1, 1907 J. & D. Last pail! Jan., 1887. June 1, 19071 ~g. A. &O. N. Y. Cent. Trust Co. April 1, 1921 5 g. A. &O. April 1, 1921 do do 5g. A.. &O. April 1, 1921 319 J. & J. N.Y.,Del. &Rud.Can.Co Jan.2,le9O M.&N. do do 1895-'97 \ 6 6 ' g.&7 A. & O. do do April 1. 19C6 7·30 J. & J. N. Y., Wins.Lani~r, PhHa March 1, 1896 5 J. & J. July, '87, coup. last p'd. 100,000 y'rly ~ A. & 0. Phil.,Pa.RR.Co&Lond'n April 1, 1910 7 A. &O. Oct. 1. 1894 7 4g. J. & J. New York. July 1, 19196 g. A. & 0. N.Y., R.&Danv., 2 Wall April 1, 1925 July 1, 1937 do do ~ g. J. & J. Q.-F. N. Y.U.P.Of.&Un.Tr.Co. May 1, 1905 Q.-F. N. Y. U.P.Of.&Un. Tr.Co. May 1, 1905 6 lg Q.-F. N.Y.,Boston & Chicago Nov. 15, 1s8; 4 g. J. & J. N. Y. Union Tr. & Lon. July 1,198 When earned. July 1, 1989 5 g. Sept. 1 M.&N. Boston, Of., 95 Milk St. Nov.1,1891 6 M. &S. N.Y.,Fa.rm's L. & T. Cl>. Mar. 1, 1915 6 1S88·89, $3,401,f>74; net, $1,401,584; surplus over charges and divi • dends, $367,013, against $437,647 in 18!:!7-88.-(V. 47, p. 140,776; V48, p. 222; v. 49, p.174, 617, 826.) Allegheny Valley.-Owns from Pittsburg, to Oil City, Pa., 132 miles; branches-Red Bank, Pa., to Driftwood, 110 miles ; others, 17 m,; total operated, 259 m. Stock, $2,166,500; par, $50. Of the lnoome bonds the Penn. RR., No. Central and Phila. & Erie hold $6,087,000, the Interest on which was paid altogether in bond scrip. The coupons of guaranteed bonds held by the Pennsylvania Railroad for advances amount to $6,364.,'365. The Penn. RR. owns $1,250,000 stock and $5,510,000 funding bonds. In May, 1884, receivers were appointed, . Penn. and other railroads beii1g plaintiffs. Suits are pending. From January 1 to Nov. 30 in 1889 {l l mos.> ~ross e ,irnings were $2,169,489, against $1,9 L5,420in 1888; net, $ .- l37,ll5, against $82:!,761. In 1888 gross, $2,09q,965; net, $900,927; interest charge, $1,106,318 (of which paid $891,703); deficit, $290,956.-( V. 48, p. 221, 686.) Allentown Terllllnal. -Owns 3 miles of railroad in Allentown, Penn., connecting the East Penn. (Phil & Read.) with the Central of N. J. Leased for 999 years to Phil. & Read. and Central of N. J. (by assignment from Lehigh Coal & Nav.) at interest on bonds and 5 per cent on $450,000 stock (par $50), bonds being guaranteed, princt_piu and intere~t, by Phil. & Read. and Lehigh Coal. , Ashevllle & Spartanburg-( See Map Richmond ~ W. P. Te1•m).Owna from Spartanburg Juno., s. C., to Asheville Jnno., N. C., 60 miles. Formerly Spartan. I& Asheville; sold in foreclosure April, 1881, and reorganized. Stock $1,050,000; par $100. Controlled by.Rich. & W. Point Terminal, which owns $1,047,981 stock and $215,000 2d mortgaJ?;e bonds, and has pledged them (except a few shares of stoek) under its collateral trust of 1889. In 1887-8, gross earns., $115,\)82; net, $17,490. A.tchlson Colorado & PacHlc.-Waterville, Kan., to Washington Kan., 20 miles; U-reenleaf, Kan., to Logan, Kan .. 155 miles; Logan to Lenora, Kan., 25 miles; Downs, Kan., to Ball City.Kan., 24mUes; Yuma, Kan., to Warwick, 31 miles; total, 254 miles. The road formR an extension of the Central Branch Union Pacific, which leased it in 1879 for 25 years, and guaranteed the bonds. The road is controlled, and the whole system is virtually owned by Union Paoifl.o, but operated by Mo. Pac. Stock, $1,522,400 (par $100}, of which U. P. and Central Branch own , $920,300. Rental is $254,370 per annum. A.tchlson Jewell Co. & West.-Jamestown, Kan., to Burr Oalr; Kan., 34 miles. Under same auspices and control as Atchison Colorado & Paoi.fl.o. Stock,$202,800 (par $100), of which Central Branch Union Paoi.fl.o owne $105,000. Rental is $34,000 ner annum. Atchison Topeka & Santa Fe.-( See Maps.)-LINE OF ROAD.Atchison, 2,082 miles; Southern Kansas, 942 miles-total, Atchison system proper, 3,026 miles. auxiliaries-Roads leased and owned: Sonora, 262 m.; Gulf Col. & San. Fe RR, owned absolutely, 1,058 m.; Chic. San. Fe & California Ry., 517 m.; St. Jos. St. Loy.is & ::Ian. Fe RR.; , 97 m.; St. Louis Kan. City & Col. RR., 61 m.; California Central Ry .• 269 m.; N. Mex. & Ariz., 88 m. Auxiliaries-Roads co ntrolled: Chio-, Kan. & West'n, 943 m.; Cal iforni a Southern, 211 m.; total auxilaries_, 3,507 m.; total owned, lease d and controlled, 6,031 miles. Roads ownea jointly with other RR. oompauies: Leav. Top. & 8. W., 57 m.; Manha-t. Alma & Burl., 56 m.; Wichita & West'n 45 m.; King. Pratt & W., 80 m.; Atlan. & Pao., 927 m.; Kan. City Belt, 10 m.; total owned jointly, 1,175 m. Grand total {including ½3 of mileage operatedjointlyJ 7,119 miles. ORGANIZATION, LEASES, &c.-The A. T. & s. Fe. Co. was mcornorated March 3, 1863. The main line of 471 miles was opened Dec. 23, 1872. Tht- whole system outside of the main line is nominally under different cor porations, of which the ownership is vested in the A. T. &S. F., an<l the roads usually leased to that Co. In Aug., 1884, an agreement was made for the control of the Mojave Division of the Southern Pacilio and a right for traffic over the Soutnern Pacific to San Francisco. The Atlantic &Pacilio lstand 2d mort. bonds are guaranteed one-half each, s everally but not jointly, by the Atchison and San Francisco companies. See Atl. & Pao. and St. L. & San Fran. in this SUPPLE;\1ENT. In .April, 1886, the Gulf Colorado & Santa Fe was "taken over" by the Atchison, by the exchange of G. C. & S. F. stock for Atchison s tock, $8 ,000,000 in all, and the Atchison agreed to •· assum e the bonJed indeb te dn ess" of the Gulf Co. See CHRONICLE, v. 42, p . 630; V. 4 8, p. 68. In Nov., 1889, a t raffic agreement was ma.de with the Chicago Rook Island & Pacific. See V. 49, p , 689. On Oct. 15, 1889, the company issued its plan of reorganization,. which was simple but c omprehensive. No asses ment was ma.de· on the stock, and there were au thorized $150,000,000 o.r 4 p er cent mor ,gage bon~s and $80,000,000 of 5 per cent income bonds, into which all prior bonds were exchangeable on certain s11ecifled terms. See the plan at length in V. 49, p. 504-, and article on pp. 483, 597; also p. 823. To Jan. 15, 1890, all but about $ 8,000,000 bouds, or a decisive 10ajority of each of the 36 issues, had been deposited. Proposition has be en made t o c reate a voting tmst, sto ckholders t .1 d ep osit their certificates for five y ,3ars (a.t tirst ten y ears was propi,sed) with George C. Magoun, Thomas Baring,, Oliver W. P.ea"body, ,Tohn J. McCook, B. P. Cbenay, L evi C. Wada and Wm. J. Rotch, who should.thus <'Ontrol the property. Beneficial cer ,ifloates, ne.gvtiaole and entitling the holder to dividends, would be issued inexchan~e for thestook deposited.-{See v. 4 !l,p. 8 24, and issue of Jao. 25, 18110.) STOCK AND Bo~os-Dividends on the stock have been-in 1879, 3 per per cent ; in 1880, 819 ; in 1881, 6 cash and 50 stock; trom 1882 to 1886, inclusive, 6 per cent; in 1887, 614; m 183~, 5 14; in 1889 nil. The range in prices of stock in Boston was-in U:!81, 921) :MAP OFT-HE ATCHISON, TOPEKA SANT A FE R. R. AND .EASTERN SECTION. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis \ ,--. .Brton V \ ~ r4 ri G'R J, I s ..... 00 i i co 0 L-J 'i oHamilton Treasure City 0 orne V A D PatteNOn.O oReveille sville - SI: t i i of.1me,:gosaJl , CaU •, $'/ .., 11 i i isu west· Po!n • , ,~ eler • , ~ A iI ~~ ~~ ·,·, ·,. '· .\,. o~ ~ t to 0 •-..., .Arivaca Cobota.•;-,,•-...,_. I I• -.,.• ~ '9 d'- r-·&-, -.L.•-MAP OF THE ATCHISON, TOPEKA SANTA FE R.R. AND WESTERN SECTION. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1, PASO DEL N Cande1 :Rancheria § 00 0 ; < i .> u A i i "' ; ~ ,--------- . ost.iomaa M AP OF THE ATCHISON, TOPEKA AND SANTA FER. R. ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis GUlF, COLORADO AND SANTA FE DIVISION M Luaymas L C 0 . X F I C 0 JANUARY, RAILROAD STOOKS AND BONDS. 1889.] Bub•crlber• will conCer a 1r1"eat Cavor by giving Immediate notice of any error dl■covered In these Table■• Bonds-Prine l• INTEREST OR DIVIDENDS. Miles Date Size, or pal, When.J>ue. Amount Wh ,Or explanation of column headings, &o., see notes of of par Outstanding Rate fer en Where Pahable, and by Stock.t-Laat . on :first page of tables. Road. Bonds Value. Cen . Pay'ble W om. Dividend. DESCRIPTION. -- -- A. T. cl 8. F.-(Oontinued.)- 1st M., g., ($15,000 p.m.) Atch.towest bound. Kan. 471 Landt. M.,#?.. ($7.500p.m.). not drawn .•.•••. . . 5 p.c. ds.N.M.&B.P. coll. (dr. at 101) s .f. $36,850 . 372 B. F. 5% bds,plain (red. at 101) s. f. $37,430 yearly 419% @. l. bds. (dr'n at 100) s. f. $78,000 yearlv .c&r ~06 6% s. f. secur'd, bds. (dr'n at 1U5) s.f,$143.000 Mr .... Collateral trust bonds., gold (V. «, p. 245) .... c&r A.T.& S.F.in Chic lstM. (term.) gu.g.,tll0,000,000.c Gulf Col. & Banta Fe-1st M., g. ($12,000 p. m.; . c 1,()22 2d mort. ($8,000p.m ), gold,assumed by Atch.c 1,022 N. Mex. & So. Pac.-lst, g., ($15,000 p. m.). guar. 372 Bonora, 1st mort., $20,000 p. m gold, int. guar ... 262 Cal.So.,lst M ,$10,000 p.m.,g.,gu.,s.f.dr'n atll2 c• 210 Income bonds (non-c _: mulative) ..••. - --·-·····•- · 210 Chlo. Kan. & West., 1st, g, guar. ($14,000 p. m.)c• 941 do 1nc. bds .. non-cum.($7,000 p. m .)_c* 941 Chic.S.Fe& Cal.,lst (&2d M.on90m.),g, ~ar.c..&r 350 Bo. Kan.-K.C. Law. & So., lstM. ($16,000 p.m.). 1R5 So.Kan.& West.-lst,(s.f.$31,037y'1lydr.at 110) •139 Ottawa & Burlington RR.-lst m. $12,000 p. m 42 B. Kan.(Gulf Div.)-lsti'd,guar.($16,000) p.m.c" 271 Bo. Kans. in Texas, 1st .($t6,000 p.m ),g., gua.r. 100 8. Kan. Income bonds, guar., $4,000 p. mile) ..•. 8!2 Atlanta&! Oharlotte.-Stock(5 p.o.rent'l Ricll.&_Dan.) 269 Pref. mort., redeemable at 100 ...•••.•••.•••.••. c• 26512 1st mortgage .••...•.••.••..••..••..••...•..••...•. r 2651,; Income bonds (not cumulative), guar .. ..•..••.. r Allanla ~ Florida-I ot morl. ($8,000 p. m .) <•Id •• 1 Atlanta d! WestPoint-Deben. cert. redeem. after '91 Atlantic Oity-lst mortgage, gold .••............•. o• 104 Atiantic d! DantJille-lst mort. gold, $16,000 p.m.c"' 209 .... io5 1869 1870 1890 1880 1880 1881 1887 1887 1879 1885 1879 1880 1886 1886 1886 1886 1887 1879 1880 1881 1886 1886 1886 i877 1877 1880 1889 1881 1889 1887 500 &c. 500 &c. 1,000 1,000 1,000 l,OOO&c l,OOO&c 1,00() 1,000 1,000 1,000 1.000 1,000 1,000 100 &c. 100 &c. l,OOO&c 500 &c. 1,000 1.000 100 &c. 100 &c. 100 &c. 100 1,000 1,000 500 1,000 1,000 1,000 1,000 I 15414; in 1882, 787sW961a; in 1883, 78@8614; in ld84, 5919-W80; in 1885, 6314@89½3: in 1886, 79 7s1DIOO; in 1887, 9u1a ib119 7s; 1D 1888, 5314@99:ls: In 1889, 2638@5814; in 1890, to Jan. 17, in~lus., 30141i>33¾. The new general m lrtgage bonds and incomes are given in tabl8 as they will stand if the h c1lders of all thE, prior bonds assent to the plan. Tbe notes secu1·ed by 2d mortgage, the Chic. & St. Louis, the At. & Pac. and two or three minor issues, amounting- tn all to $22,476,000, remain to bathe subject of special treatment in the future. The new general mort. 4.s and, subject to these, the income 5s, a.re both secured by one indenture to the Union Trus ~ Co. of N. Y., Trustee, and cover thA entire property of the company, all ~hares of stock owned or controlled (except suffici ent to qualify directors) all bonds owned and pledged under trust deeds, and all securities dep osited under the reor• ganization. T h e 4s may be 1asued to au amount not exceeding $150,· 000,000 on present property, to carry out tbe reorganiz ation plan, and additional amounts may be issued at $20,<'00 p er mile for extensions or double track. The inc mes are um·ted to $80,000,000, are non-cumu• lative, and may be redeemed at par on six months' notice. Abstracts of all the principal prior mortgages of the Atch, Top. & 8. Fe RR. Co. were published in the CHRONICLE, v. 49, p. 546 551, and of the Bew mortgages in V. 49, p. 857-861. The 6 per cent bonds due Deo. 1, 1911, have as security 1st or 2d mort. bonds of a number of the proprietary or controlled railroads, at not over $25,000 per mile. deposited in trust as collateral; they are redeemed at 105 by the sinking fund, which is 1 p. c. ($123,0.iO) per annum till 1891 and 2 p. c. thereaf1.er; reg. bonds for $5,000 issued for coupon bonds cannot be redeemed till afcer coupon bonds. V.46, p. 386. The collateral trust bonds of '87 are direct bonds of the Aturuson Co., a,;•st which are deposited in trust the bonds of br~ch lines constructed iri California and Colorado, not exceeding $25,000 per m1le. Bost. Safe Dep. &Trust CC'.. trustee. See V.4.4, p. 245; V. 4.6,p. ::$85; V. 47, p. 3i6. The California Southern 1st mortg. bonds a.re guaranteed (by endorsement on tbe bonds). Sinking fund retires it25,000 first mortgage bonds yearly at 112. In August, '89, a circular (V. 49, p. 205) gave terms ot consolidation of tlie California Southern, Califoria Central and tho Redondo Beach railways as the "Bouthern:Caltfornia Railway Co." with stock of $16,935,0CCl, of which $8,000,000 is preterred. The Chicago Kansas & Western stock ($10,000 p er mile) is held by the A. T. & S. Fe, and the first mortgage bonds, at $14 000 per mile, are guaranteed by the latter company, and these, with the income bonds at $7,000 per mile, were issued as per the circulars m V. 43, p. 59, V. 4.-1, p. 24.5. The Chicago Santa Fe & California R.R. forms the connecting line from Kan. City to Chicago, about 43':J m ., including Chic. & St. L. (purchased) 90 m. Its bonds, ($J5,00u perm.) aro guarant-eed by the Atchison, and are a first lien on all but 89 m., on which the Chic. & t:!t. L. bon<fs have a, prior lien; bonds ar~ held to retire the Chic_ & St. L. bonds at maturity, but these latkr cover also 5 < m., not included in the C. S. F. & C'. mort. The capital stock is $15,000,000. Trustee or mot tgage 1s Boston Safe Deposit & Trust co. See V. 44, p. 148. Toe Atchison Topeka & Santa Fo in Chicago is the title of the corporation owning the terminal property there, and its stock is $5,000,000. The trus tee of the " ort. is the .Boston !'rust & Safe Dep. Co. The Southern Kan sas Gulf Division and the Southern Kansas in Texas first mortgage honds were issued as per circulars in V. 42, p. 4.62, V. 43, p. 431. The bonds are guaranteed, principal and interest, by the Atchison Topeka & Santa Fe. The income bonds are a charge against the entire mileage (842 miles) of the So. Kansas. In November, '88, the $10.000,000 notes were authorized, secured by 2d M. on the main line In Kansas and by deposit of the stock of the Chic. Banta Fe & Cal. and terminalcompantes. The mort. can be discharged whenev~r the notes a.re paid off-ati any time. OPERATIONS, FINANCES, &c.-From Jan. 1 to Nov. 30 in 1889 (11 mo ' .), gross earnings or entire system, were $25,447,671, against $~3,935,024; net, $7,113,441, against $5,451,728. Fiscal year will hereaft, r end June 30. The Atchi-ion report for 1888 in the CHRONICLE (V. 48, p. 603, 620-25 and 631 ), gave financial condition, &c. 'l'he ner result.o! tne year was as followi;: On the entire system of 7,000 n.iles of road the figures showed a deficiency of $5,569,529: this, however, was after the payment of $2,625.000 for dividends. leaving the dPftciency $2,944,'>2\I. Tvtal net earnings in 1888 on an average of 7,009 miles or road were $6,S70,849, but in l.887, on an average of only 5,342 miles, they were $10,954,586. NET EARNINGS OF WHOLE SYSTEM, Net Earnings. Average Mileage. 1888. 1887. 1888. 1887. $ $ Milf'ia. Miles. Atcl!lson proper............ 5,225,098 ~,604,075 · 3,020 2,622 A ux1li1:1ry rnads. .. . . .•.•••. 1,209,455 ... ,145,802 3,402 2,144 Roads ownedjointly•..•••. def.1~7,408 204,710 591 f>76 --- 7,013 5,342 Whole system.......... 6,307,145 10,954,587 For 1888 earninlZ'B and operations were as follows, these statistics mbracing the At.Top. & s. Fe and South. Kan. systems combined, but othing of the Sonora, Atlantic & Pacific, or roads owned jointly lthou,ih the interest on Sonora bonds is deducted here; in 1888 the outb. Kansas is trea•ffll as a. leased road and its interest is included in m la.ls, but previously its interest was given as a separate item: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I· 1 I ~ I ~ ( I 0 oo Clo <X>o ,-j ~ IQg ... q •'X) ~~ I I lo)~ <CIO f 'Cl,c A as 00 .c ... 'C'd .SQJ i:l QJ <ti Ill aS A p 1,700,000 500,000 4,250,000 750,000 840,0 .0 1,232,200 2,200,000 3,352,000 7 g. J. & J. 1 ( 7 g. A. &O. A. & O. 5 n M. & S. 419 A. &O. J. &D. 6 5 g . F. & A. 5 g. J. & J. 7 /l, J. ·& J. 6 g. A. & 0. No interest Is p•fd 7 g. A. & 0. 'l'g. J. & J. on the unassented ~ 6 g. J. & J. bonds. M. & S. 6 5 g. J. & D. l\fay 1 6 5 g. J. & J. A. & O. 6 J. & J 7 .A.. & 0 6 5 g. M. &8., 5 g. M. & S May l J 6 . 2¼1 M.& S. N.Y.Cent.Tr.Co.,54Wa A. &O . do do 7 J. & J. do do 7 do do A. & 0. 6 N. Y. Cent. Tr. and At Atlanta, Ga. 66 g. lM.&><. J. & J. 5 g. )!, &N. Phila .• 227 South 4th st. 6 g. A. & O. N.Y., Office, 57 B'dway. July 1, 1899 I April Oct. I, 1900 1, 1909 I Sept. 1, 1920 Oct. l, 1920 Dec>. 1, 1911 Feb. 1,1937 I Jan. 1,1937 I I I I July l, 19( 9' Oct. 1, 1923 April 1, 1909 Jan. 1, 1910 Jan. 1,1926 Marrhl, 1926 June l, 1926June 1, 192& Jan. 1,1937 .April 1, 1909 Jan.1,1910 .April 1, 1 P09· Sept. 1, 1926 Mar. l. 1927 July l, 1927 Sept. 6, 1889' .April 1, 1897 Jan. 1, 1907 April l, 1900Nov. 1, 1939 July, 1891 May 1, 1919Oct. l, 1917 I I h OPERATIONS A.ND FISCAL RESULTS (A.TCH. & S, K. ONLY), 1886. 1887. 1888. 2,526 3,016 3,0.?4 ~ileeoper At T &S.Fe-8. Kan Earnings-•· · $1 026 004 $5 136 6-2 $4 335 643 assenger ..••..••..••..•••••.••. 11:100'.967 12;24s:3i3 10:rn,:043 ~~\g~!p-~esii.&o··············· 857,333 1,076,~71 1 083 227 ' ' ' · · •· ·••• · ••• · · · _ _ _ _ ____ ' ' Total gross earnings . •••.••. _••. $15,984,307 $18,461,366 $15,612,913 Operating expense's............ 8,613,911 l0,4.08,4f>5 11,027,162 p $3,052,911 Net earnings .•••.•••.••...••..•• $7,370,396 5'3·38 P. ct. of op. expenses to earns.. 53·89 INCOJ\IE ACCOUNT. 1887. 1886. Receipta$3,052,911 N'et earnings .••..•••.•••..••.••• $7,370,~96 33,785 29,95::J Rentals ...••.... . .••.... . .•..••.. Int.on bonds in 5 p.c. coll. trust. Other receipts•.................. 623,859 75i.,i°53 From land grant trusts.......... 170,633 169,497 Total income- •••••••..••.••• $8,198,673 Disbursements- Rentals pa.id............. . ....... mt.on At. T. &B. Fe bonds..... Cnt. on So. Kan. bonds.......... [nterest paid a.s rental.......... [nterest on land bonds........ lnterest on Sonora bonds...... lnt. on Leav. To & So. W. bonds. Dividends...... ................. Rate or dividend............... Sinking fun«ls......... ....••.••• Paid to other roads............. $20,400 1,664,860 339,820 829,499 170,633 283,500 27,600 3,738,478 (6) 311,340 73,227 $1,585,751 70·63 1888. $4,585,751. 294,628 621,690 717,129 168,805 $9,003,504 $6,378,003 $15,300 1,746,579 45 •,826 859,88'3 169,487 283,500 27,600 4,474,725 (612) 303,955 257,&77 $--·~···· 2,411,060 t ..•....• tl,588,6U J68;"0l> 283,500 .•••..•• 2,625,000 (3¼) 329,725 489,159 Total disbursements ..•• _... $7,459,356 $8.592, 23 ~ $7,895,890 Ba.lancet ..•••• ·········•~M· ..•. sur.$739,317 sur. $Ul,266dt.$1,517,987 .. Includes net land receipts Southern Kansas Railway Co., sue.dry profits and balance o! general interest account. t This does not include the nst profits of the Atch. land depir-':ment.. which were in 1894 $829,101; tn 1835, $1,303,847; in 1896, ;t;l,126,.· 752; in 1887, $310,886; in 1888, $24.2,!'l85. t The So. Kan. R.,ad being treated in 1888 as a "leased r.>a.d," its bond interest ($71'9,390) 1s included in the item "Intere 1t paid M rental." -(V. 48,p. 66,127,158. 236,250,252,462,603,615,631.632; ~.49> p. 205, 268, 300,402,404,433,470,483,503,504,538, 540, 5-16, 579., 597, 653; v. 49, p. 689, 718, 760, 80!, 823, 857.) A.tlanta & Charlotte Air Llne.-Owns from Charlotte, N. C., to Atlanta, Ga., 269 miles. 'l'l!e Richmond & Atlanta Air-Line was sold under foreclosure Dec. 5, 1876, and the existing corporation was formed Feb. 27, 1877. On March 26, 1881, the road was leased to the Rich. & Danv. tor 99 years at a rental of $466,500 per year, equal to the interest. on debt and 5 per cent on stock; if gross earnings ot A. & C. A. L. exceed $1,500,000, dividends to be 6 per cont ; and if they ex:ceed $2,500,000, 7 per cent. ln year ending June 3 0, 88, gross earnin_g s wer& $1,348,523. Due R. & D. for betterments Sept. 30, 1888, $1,046,809. Atlanta & Florlda.-Owns from Atlanta., aoutherly to Fort Valley Ga., on Cent. Ga. R.R., 105 mUes; extension to tidewater projected. Thls is the Atlanta & Hawkinsville incorporated in 1886, name havin~ been changed in '87. Constructed by Georgia Improvement co., whic.ii. received $8,000 bonds ancl $10,000 iltock per mile. Trustee or 1st mort. for$1,200,00(1 is Central Tr.Co. Stock outstanding, $1,115,000; pRr, $25. Atlanta & West Polnt.-Owns from Ea.st Point, Ga., to Wes~ Point, Ga., 80 miles; leases 619 miles; total operated, 8612 miles. In April, 1881, a controlling interest in this company was Bl'quired by th& Central Georgia thr011gh purchase of $188,nOO stock and the lease of· the Georgia RR., under which lease $440,900 stock and the same amount of debt cert.itloates are held. A stock dividend of 100 per cent was declared in 1881 in debenture certificates. Any mortga~e issued. must be subordinate in lien to these certificates. Stock, $1,232,200; par,.. $100. Dividends paid in 1889, 6 per cent. Gross earnings in U:88-89,.. $424,517; net, $1::$9,044; in 1887·88, gross, $424,287; net, $138,334i,. dividends pa.1d (6 per cent), $73,932. Atlantic City-Camden to Atlantic City, 54 m.; with branches, &o,_p of 49 m. ConsoDdation in 1889 of the Phil. & Atlantic City RR. a.n<t other lines. Stock authorized and issued, $1,200,000 common a.ad $1,000,000 oref'd. The new bonds will retire the old ones. Controlled by· P. & R. RR. Truetee of mort., Guar. Trust & Safe Deposit Co. of Phila•. Atlantic & Danville.-( See .MapJ.-Completed Jan., '90, Noifolk to. Danville Va.. there to connect with the Danville & East T€nnessee•. projected by parties iu same interest to Bristol, on East T~nn. Virgint&, & <Jeor~ia RR. In operation-Claremont to Beltlt-ld, Va., 55 w.ties, and , Norfolk to L11.wrenceaville, 91 m.: other llnes, 29 m Trustee or mort•.., Mercantile Trust Co. Stock authorized h~ $5,000,000 ; on ti-tandlng,. $3,i90,000; par, $100. Oross earns. '88, $204,064: net,$9H,8 ~ •. Thoe.. Ewing, Pres.; A.E. Bateman, Treas., N. Y. (V. 47, p . 326, 74.4; V. 48,p.. 580, 827; V, 49 1 p, il, 511, 654; V, 50, p. 70,) C, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis . ATLANTIC & DANVILLE RAILWAY & CONNECTIONS. JANUARY, 1890,] 21 RAILROAD STOCKS AND BONDS. Subscribers will comer a great Cavor by giving Immediate notice of' any error discovered In these Tables. Bonds-PrmctINTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size,or When Due. Amount Rate per When Where Payable, and by pal, of For explanation of column heading s, &c., see notes of Par Outstanding Stocks-La.st Road. Bonds Value. Whom. on first page of tables. Cent. Payable Dividend. Atlantic<f:Pac. -Guar. trust M. g. (red. at 105)c· 2d M., guar., g., (s. f. dr'naft.Mch.1 , '90 at105).c' Inc. bds., non-cum.'tive, W. D. ($18,750 p.m.)c*&r 1st RR. & land gr. bonds on Cent. & Mo. Div .... o• 1st land fsant bonds on Central piv.. cum ..... o* Incomeb .,Cent. Div.,non-oum. ($18,750p.m.)o• Atlantic ti: St. Lawrence.-Stock, 6% rental G'd Tr'k Augusta ti: Savannah--Stock, 7% rental Cent. Ga. Bal,d,Eagle Vatley-Gen'lmort.,(s. f. drn. at 100) ... r B::iltimore ti: Okio-Stock•........ ...... ....•...•..... 1st and 2d pref. stock, cum.,$3,000,000is 1st pref. Loan due in 1880, extended, pa,yable at will ...•. Loan, 1853, extended in 1885, ~old .......•....... do 1870, sink. fund £16,000 yearly, not dr'n Mort. 1872, sink. fund, £12,000 semi-annually •.. Mort. 1874, sink. fund, £9,000 s emi-annually .... Consolidated mortgage (for $29,600,000), gold.c* Bond to CHy Baltimore(payable$40,000y'lyL .•. Loan,1877,(s.f.dr'n at 100) (B.&O.&Ch. bds colt'l)c. N. W.Virginia RR.1st M. (ext. in 1888), assum'd .e Loan 1879 (Parkersburg Branch bonds collateral) Mort. on Phila. Br.,with Ba.It. &Phila. bds. as col. Loan, 1885, g. (Pittsb. & Connellsville b'ds collat.) Car tru t loan g.($250,000 paid yearly .Jan. 1) .. c Equipmem tru,-t (U00,000 paid yearly A.pril 1) . 1st M. Schuylkill R. East Side RR., gold (guar.) •. 1st M. Monongahela River RR , guar., gold .• .. u* 1st M. Baltimore & N. Y. RR , guar . ..••...•. c&r Bali. & Potomac-1st M (tun.) g., s. f. 1 % not dr'n.c* 1st m., road, e:uar., gold,s.f.1 per cent, not dr'n.c* Consolidated mortga ge for $10,000.000 .. ...... c• Balt. ~ O Southw.-Uin. & Balt. lstM.,unasaented. New 1st mortgage (guar. by B. & 0.).2old . . ..... --672 - -1887 560 560 112 112 112 151 53 80 18~7 1880 1871 1871 1882 . --· isso .... --·· 379 is53 371} . 1853 379 1870 421 1872 421 1874 444 1887 379 1875 263 1877 10! 1855 104 1879 108 1883 150 1885 .... 1887 1889 ·i·o 1886 35 1889 5 18 89 112 1871 90 1871 92 1889 5 1870 281 1890 $1,000 l,000 50 &o. 500 &c. 500 &c. 1,000 100 100 1,000 100 100 500&". 500 &o. £200 £100 £200 1,000 £200 1,000 1,000 £200 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1 ,000 1,000 1 ,000 - ~ -. Atlantic &; PacUlc.-This corporation was chartered by Act of Congress .July 27, 1866. The Western division is from Isleta, near Albuquerque, on At. Top. & Santa Fe, to Big Colorado River, 560 miles, with Gallup .Junction branch, 4 miles. At Big Colorado River it meets the line to Moiave, Cal. (242 miles), leased by this Co. in 1884 .from the Southern Paci.fie of Cal. The Cal. Southern gives a through route to San Diego on the Paci.fie coast. It leases also A. & P. Junction to Albuque1que, N. M., 13 miles; total operated, 819 m . The Central Division additional, from Seneca, Mo.,to Sapulpa in the Indian Territory, 112 m., is operated b .v the St. Louis & San Fran. Railway Co. The guar. tru st b onds due in 1937 are guaranteed severally (but not jointly) by the Atchison and St. Louis & San Fran., each company guar anteeing one-half of each bond. They are redeemable at any time at 105. The 2d mortg. bonds have same guarantrn as above first mortg.; the sinkini;i: fund is $100,000 per y ear beginning March, 1890; a1:y or all bonds may be drawn at 105. [Abstracts of the sevt,ral mortgages were published in the CHRONICLE, V. 4~, pp. 302 to 304.] Stock authorized is $100,000,000, and issued $79,760,300 (par $100>, of which $51,503,800 is owned oy the At. T. & S. F. and · the St. Louis & S. F. companies equally and deposited in trust tor thirty years. The stock is olassed thus: Western Div., com. stock, $78,261,600; Mo. div., pref., $1,· 400,0001 Cent. Div. pref., $9!:!,700. The old pref. stock has no preference. The Southern Paci.fie sold the 242 miles or road from Mojave to The Needles, on the Colorado River, to the A. & P. Company for $7,271.100, paya.1Jle in A. & P. 1st mortgage bonds, issued on said 242 miles, to amount of $6,059,250 and $1,211,850 in cash. Until clear title to this piece of roa.d is given, the A. & P. takes possession and pays 6 :\)er cent per annum on the $7,271,000. The same negotiation gave a right to run through trains to San Francisco over the Southern and Central Pacific lines either on a mileage basis or at 3 per cent per annum on $40,000 per mile. See V. 39, p. 208; V. 40, p. 50. The land grant claimed under the old A. & P. charter of July, '66, is 25,600 acres per mile in Territories and 12,800 acres in States. On the West. Div. the Co. has earned under its grant 20,aoo,000 acres of land, 1,480,000 of which were sold to Dec. 31, 1888; 5 ,302,000 acrl's were in the hands of a trustee for advances from San Francisco and Atchison Co's., leaving 13,513,000 acres undlsposed of. Receipts in 1888 (including stumpage), $37,354; payments, $16,44.0; der., $9,085. The proceeds of sales of the company's l ands have so far been applied to payment o.f interest on A. & P. bond~. A map of the land grant was published in the CHRONICLE, v. 36, p. 4.68. Gross earnings in '87 on Western Div. were $2,639,395; net, $29,743. In 1888, gross, $2,980,084; deficit under operating expenses, $70,465 ; def. under tlxed cha.r~es, $1.381,466.-(V. 46,p. 2e8, 60~, p. 801; v. 47, p. 80, 326; v. 48, p. 37, 763.) Atlantic&; St. Lawrence.-Owns from Portland, Me., to Island Pond, Vt. (and branch), 151 miles, there connecting with Grand Trunk of Canada, to which leased for 999 years, August 5, 1853, at a rental equato bond interest and 6 per cent on stock. The funded debt consists of 2d and 3d mortgage bonds, $2,213,000, which the Grand Trunk holds aod has pledged for its dei:>euture stock. The stock"of $5,484,000 is mostly£, with dividends parable in London. In year ending June ao, 1889, gross earnings were $1,063,967; net, $244.,3i5; deficit under interest, &c., $236.226. Augusta &; Savannah,-Owns from Millen to Augusta, Ga., 53 miles. Leased in perpetuity to Central of Georgia for $73,000 per annum. Hafl DO bonded debt. Bald Eagle Valley,-Owns from Vail Station, Pa., to Lockhaven, Pa., 51 miles; branch, Milesburg, Pa., to Bellefonte. Pa., 3 milee. Snowshoe to Su~ar Camp, 25 miles; total operated. 79 miles. Leased to Pennsylvarua Railroad Company tor 99 years from December 7, 1864. The branch is the property of the lessor.a. Rental, 40 per cent of gross earnings. Sinking fund draws $4,000 bonds at par April 1 each year. Gross earnings in 1888, $576,433; net, $318 ,868; rel\tal, $230,573; surplus, $88,295. Stock is $935,000 (par $50), of which Penn. RR owns S:468,350. (V. 49, p, 82.) . )Jaltlinore & Ohlo-(See Map).-Operates B altimore to Chioaso, 853 miles, and hai, via. the Buffalo & Ohio S.W., a direct route to Cmoinnati, ·593 miles, its total mileage leased, owned and opera.tea (excluding the Butta.lo & Ohio 8. W.) being 1,844 miles. . ORGANIZATION, LEASES, &c.-The corporation was chartered in Maryland Feb. 28, 1827, and in Virginia March 8, 1827. First section opened. May 24, 1830. The B. & 0 . Telegraph Co. stock owned by the B. & O. Railroad Co. was sold out to Western Union for $5,000,000 Western Union stock at par and a rental of 'S60,000 per year for fifty years. It is proposea to open a through line to New York, via the Reading .and Central or N. J., with terminals on Staten Island. For this reason the company has acquired control of the stock and income bonds of the Staten i sland Rapid Transit RR. STOCKS AND BONDS-The pref. stock carries 6 per cent dividends only. The couunon stock has paid-in 1877, 8 per cent; in 1878, 8 in stock; in 1879, 4 stock and 4 cash; 1880, 9; in 1881 to 1885, incl., 10; in 1886, 8; m 1887, 4; none since. Range in prices of common stock in Baltimore In 1881 was 183@210; in '82, 1901t202; i.o. '83, 19212@205; in '84, 167 @199; in '85, 166¼@185; in '86, 150@191; in '87; 104@180; in '88, 8011>106¼; in '89, 8111>101¼; in '90, to Jan. 17, inclusive, 9911>102. Of the bonds given 1Il the table as outstanding the s •nking funds held Jan. 8, 1890, consols of 1887 to the amount of $677,000 (interest on which is paid in consol s·themselve~) and Sept. ao, 1889, they held other_ first class interest-bearing bonds to a total of $7,576,94", an<l $841,192 canceled bonds. . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 'U7,60-1 ,000 5,600,000 12,000,000 1,189,905 796,629 1,823,000 5,484,000 1,032,200 364,000 14,792,566 5,000,000 579,500 1,709,500 3,872,000 9,680,000 9,680,000 10,777,000 440,000 7,744,000 140,000 3,000,000 11,616,000 10,000,000 1,750,000 1,000,000 4,500,000 700,000 350,000 1,500,000 3,000,000 3,000,000 465,000 10.n3o.ooo 4 g. J. & J . N. Y., Mercan' Trust Co. Jan. 1, 1937 6 g. M.& 8. do do Sept. 1, 1907 A.. & o. Oct. 1, 1910 6 M.&N. N.Y.,st. r::&·s:F.RR.of. Nov. 1, 1891 6 do do At Mat. Nov., 1901 6 .J. & D. June 1, 1922 6 ·Portland. M.& 8. London· Mar., 1890 3 31il J. & D. Savannah, Co.'s Office. D ec. , 1869 J. & J . Phila.,F.Ins. Tr.&S. Dep. .Jan. 1, 1910 6 4 M.&N. Balt.,Of., Central Build. May l, 1887 do do J. & J. Jan. 2, 1890 3 4 J. & J. do do Atwill. do do 4 g. A.. & o. Oct. 1, 1935 6 g. M.& 8. Lond'n, Barin\Bros &Co Mar. 1, 1895 6 g. M.& B. Lond.,Baring ros.&Co. Mch. 1, 1902 6 g. M.&N. London,.J.8.Morgan&Co May, 1910 5 g. F. &A. N. Y., Union Trust Uo. Feb. 1, 1988 Baltimore. Office. July,'90-1900 J. & J. 6 5 g. J. & D. London,J.S.Morgan&Oo June 1, 1927 Balt, B. & 0 . &B.. March 1, 1902 J. & J. 6 A.. & o. N.Y.,D.M & Co.& Balt. April 1, 1919 6 4¼ g. A.. & o. London, Brown, S. & Co. April 1, 1933 5 g. F. & A. N. Y. Union Trust Co. Feb. 1, 1925 4¼ g. J. & J. Balt., Mere. Trust Co. 10 p. o. yearl~ Phila., Finance Co. A. &O. 1890 to 189 5 Dec. 1, 1935 5 g. J. &D. Phila., Solicitors' Co. N ew York. F eb. 1,1919 5 g. F. & A. do May 1, 1939 5 g. M. &N. 6 g. J. & J , Balt. Office and London July J, 1911 Balt. Office Calvert St. April 1 , 1911 g. A.. & o. do do July 1, 1929 J. & J. Ja.n. 1, 1900 J. & J. 7 ...... 1 J ,.n . 1, 1990 4¼ g J. & .r. ... .. and g ·--· ·---·· Of the consol. mortgage of 1887 the trustee is Mere. Trust & Dep. Co. The b a.lance of consols unissued is reserved to retirti the prior bonds not held by the sinking funds. The loan of 1877 is secured by deposit of the entire stock and bonds of the Chioa""o division. The loan of 1879 is Stlcured by deposit of m >rt.gage for ${,000,000 on the Parkersburg branch, t'.lis mort. being subject only to $140,000 N. W. Virginia bonds assumed by B. & O. The l oan of '83 is secured by first mort. on the PhlJ. branch and pl edge of all firstmor t. bond8 of the Ba lli. & Phil. RR. (Md. State line to Phil.), amounting to £1,000,00t>. The loan of '85 is secured by $10,000,000 2d consol. bonds of Pittsburg & Connellsville RR., deposited with Union T rust lJo. of N. Y. as trustee. The bonds of the Schuylkill Valley East Side RR. · are guaranteed by B . & 0. (the Pennsylvania Co. for Insurance on Lives, &c, being mortga ge trustee). So too are the Monongahela Rl, er 5s, which co ver road from Clarksburg to Fail'mo11ut, W. Va., and the Ba.t. & N. Y. 5s, covering 5 miles ol' road from west end of the Arthur Kill bridge of tho S~aten Island Rapid Transit RR. to a junction with the Cent. ot N. J. RR., near Roselle, N. J. The other bonds guaranteed are $11,000,000 B alt. & Ohio 8. W. tl:rst mort. 4~ per.cents; $J.50·0 ,000 Staten I sland Rapid Tran sit s econd mort. as; $14.7,2 50 Winchester & Potomac .first mort. 6s and $2,400,000 Pitts. Cleve. & Tol. (see that company) fl.rat mort. 6s; £1,373,600 Pitts. & Connellsville oonsol. mort. 6s; alao $3,500,000 bonds (guar. as to int erei;t) to be issued for road to be constructed from Clarksburg to head of Ganley River, in West Va. • OPERATIONS, FINANCES, &c.-Arter having paid dividends for many years thecompa.nypassed the Nov., 1887, and subse.qmmt dividends on common stock. From Oct. 1, '89, to Dec. 31, '89 (3 mos.), gross earns. of all lines were $6,3 28,314, agst. $5,218,832 in '88; net, $2,343,909, agst. $1,558,007. Fiscal year ends Sept. 30. The annual report for the ti.seal year ending Sept. 30, 188°, was published in the CHRONICLE Y. 49, p. 688; see also p. 671. Net surplus applicalJle to dividends in year 1888-89 was $519,319, against $L24,431 in 1887-88. ,--Earnings, 1887-88.-~ ,--Earnings, 1888-89.Gross. . Net. Gross. Net. Main Stem, etc .. ....... $10,616,692 $4,177,046 $10,452,472 $3,801,107 Washington Branch... 336,701 304,419 457,709 357,651 P arkersburg Branch... 631,379 110,176 707,562 163,784. Central Ohio Division. 1,199,282 281,187 1,2i'i5,75L 280,138 Lake Erie Division . . . 1,083,096 19-!,966 1,177,519 283,178 Chicago Division.. .. .. 2,189,417 16!,840 2,227,531 376,216 Pittsburg Division..... 2,544,963 84.0,4.0i 2,731,174 909,594. Wheeling and Pitt. Div. 530,370 13,241 645,630 def.49, 138 Philadelphia Division. 925,125 46,550 1,361,501 332,471 New'kSomerset & St'le 241,461 13,102 226,150 37,156 Totals ...•••..•...•. $20,353,491 $6,152,930 $21,303,002 $6,492,158 Results on all lines in fl.ve years have been: Years. Gross Earnings. Operating Expenses. Net Earnings. 1883-84: .....•• $19,436,607 $11,676,307=60·07 p. c. $7,760,300 1884-85.. .. .••• 16,616,642 10,973,585=66·03 " 5,643,057 1885-86. ••.. .•• 18,422,437 12,035,743=65·33 " 6,386,695 1886-87 ..•...•• 20,659,035 14,120.!61=68 ·34 " 6,'l38,904 1887-88 ..•..••. 20,353,491 H,200,561=6J·77 " 6,152 ,93 0 1888-89. --- . •• . 21,303,001 14,810,84.4=69·52 " 6 ,492,158 -(V. 48, p. 221,326, 68~ V. 49, p. 509,579,653, 671,688,824; V. 50, p. 70.) BaUlinore &; Ohio South we ,tern.-(See Map of Batt. cl Ohio.)Cincinnati, o., to B elpre, o., 193 miles; branches- Marietta. 1 o Belpre, 11 miles; Portsmouth to Hamden, 55 miles; Blanchester to Hillsboro, 22 miles; total, 281 miles. . · The Marietta & Cincinnati Co. was sold in forelosure Dec. 9, 1882, and reorganized Feb. 7, 1883, as Cincinnati Wash. & Salt. In Nov., 1888, default was made on coupons of fl.rat mort. and Dec. 31, 1888, receivers w ere appointed. The roa.l was sold Sept. 19, 1889, to Mr. E • R. Bacon, of the committee, and reorganized under present title in accordance with plan in CHRONICLE, V. 49, p. 82. . The new first moit. bonds carry the endorsed guarantee of Baltimore & Ohio as to both princip al and interest, and the mortgage ( - - - Trust Co., trustee), provirles that in case of d efault the principal shall become due only on the election of a majority in amount of the holders, and that coupons paid by the g11a.rantor shall be subordinate in lieu to the principal and subsequent interest. · Jan. 1 to June 30, 18~9 {6 mos.) gross · earningo were $972,262, against $972,202, in 1838; net $223,369, against $214,813. Report for year ending Dec. 31, 1888, was in CHRONICLE, V. 48, p. 826, showing the following: INCOME ACCOUNT. 1885. 1886. 1887. 1888. ·Gross earnings ........ $1,705,270 $2,010,406 $2,238,004 $2,050,53 4 Set earnings......... $240,440 $547,463 $62-2,164. *$501,856 Disbiirsements- [nt. on bonded debt.. Otner int. &miscel.... $693,275 1,213 $693,175 408 Total disbursem'ts. $694,488 $693,583 $693,175 $892,682 Balance, deficit .. • . . . $454,048 $146,120 $71,011 $390,826 -(V. 48, p. 37, 66, 100, 127, 326,589, 826; V. 49, p. 82, 235, 372, 580, 856.) - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis l'iketon 0 olfazard ,/ ,/ / /:eea. ------rry ~'1,0 MAP OF THE BALTIMORE & OHIO RAILROAD AND CONNECTIONS. JANUARY, 1890.J RAILROAD STOCKS AND BONDS. 93 8ub•~rlben will conf'er a sreat f'avor by giving Immediate notice of any error dl•covered la then Table■• DESCRIPTION. INTEREST OR DIVIDENDS. Bonda-Prinoi Miles Da.te Size, or - - - - - - - - - - - - - - - - - , p a l . W h e n Due. For explanation of column.hes.dings, &c., see notes of of Pa.r Ou~~g Ra.te per When Where Pa.ya.ble, and by BtockB-Laat • on first pa.ge of tables. Road. Bonda Va.lue. Cent. Pa.ya.ble Whom. Dividend. ---------------------1 ·Baltimore & Ohio Southwestern-Oontinued. 5 g. •••• When earned. : New 1st pref. income mort., not cum., ~old....... 281 1890 •••• $15,"'.00,000 5 g. •••• do do New 2d pref. income mort., not cum., gold........ 281 1890 •••• 6,400.000 5 g. •. .• do do 7,700,000 New 3d pref. Income mort., not cum., gold........ 281 1890 •... 5,000,000 2¼ on pf J. & J. N.Y., Gr'nd Cent. Depot Beeeh Oruk-Stock ($1,300,000 is pret)............ 132 ..•. $50 4 g. J. & J. N.Y., Knickerb'r Tr. Co. 5,000,000 1st mortgage, gold . ............. . ................. o 132 1886 1,000 6 J. & D. Philadelphia., Pa.. RR. 1,000,000 Bel1'idereDet.-lst M., ext'd In '77, conv., guar ..• o 64 1877 1,000 7 J. & J. Treasurer. Trenton,N.J. 1,046.000 Cons. mort. of 1876, i;;inlling fund, not dra.wn .. o 67 1876 1,000 .f. Various Philadelphia, Pa., RR. 1,225,000 Cons. M.of '76, guar. by Un. Co's & Pa. RR., s.f .. r 67 1885·7 1,000 6 J. & J. Treasurer, Trenton,N.J. Flemington RR. M. bds., s. f., 1 p.ct. not dra.wn .. o 12 1876 1,000 250,000 7 M. & N. N. Y., Union Trust Co. 475,000 Benninpton ti Rutland-lat mortgage .............. o 59 1877 1,000 lltil. Q.-J. Stockbridge, Treasurer. Berkahire-Stock (7 p. c. perpet. rental Housa.tonic). 22 100 600,000 6 g. J. & J. New York & London. Billings O.F.d Oooke 0.-G'l lstM.s.f.red.a.t 110.g.o• 51 i887 500 &c. 2,:ioo:000 Birmingham Sheffield, ti Tenn River.-lst mort..... .. . . 1889 • •• • ~ AF~.• .&~MA~: Boston, Office. 1 0 0 20,000,000 :»oston ti .A.lbany--Btock........ . .................. . . 3 9 0 • ••• do 5,000,000 Plain bonds, not mortgage ..................... c&r •••• 1872 1,000 7 2,000,000 6 J. & J. do Bonds of 1875 not mortgage ................... o&r • • • • 1875 1,000 5 A. & O. do 3,858,000 Bon~ (not mort.) issued to State for its stock ... r :;, . . . 1882 100 22 5,529,400 319 J. & J. Boston, at Office. Boston ti Lowell--BtocK .. lOO 7 Various do do 1,499,500 Bonds not mort......... • • • . i872 .... 6 J. & J. do do 750,000 Bonds do • • • . .... . •• • . 1876 •••• 5 J. & J. do do 620,000 Bon<18 do • . • • • . • . . Boston & Maine gives • • • . 1879 •••• 4¼ M. & N. do do 250,000 Bonds do . . • . .. . . . a. r ental guarantee • • • • 1883 •••• 3,325,000 Bonds do •• • •. • • • . tor 99 years. .. • . '85-6-7 •.•• VarioUB 350,000 Bonds do ......... .... 1839 •••• 6 A.~·&· O. do do 426,900 L.&L.andS.&L.bonds 300,000 5 & 6 Various Nashua, Co.'s Office. Nash. & Low., pl'n bds. . . •• . . •. • .•. 7,000,000 5 M. & N. Boston, a.Ii Office. Boston ti Maine--Btock .............................. l,210 .... 100 3,500,000 7 J. & J. do do Plain bonds , not mortgage . ........... . ....... o&r .... 1873-4 500 &o. 3,409,000 Imp'nt bonds ($1,000,000 due Feb., 19051, s. f. ... .... 1885·7 1,000 4 F. & A. do do 2,990,000 2 A. & O. N.H., N.Y. N.H.& H.Co. IJostontlN. Y . .A.ir-Line-St'k, pref.(gu.N.Y.N.H.&H.) 54 100 500,000 1st mortgage ..................................... o • 50 iSf30 1,000 5 F. & A. N.Y., Lincoln Nat.Bank 1.. -(V. 48, p. 221,326,687; V, 49, p. 509,579, 653,•671,:688, 824; V, '50. p. 70.) Baltimore & Potomac.-Owns from Baltimore. Md., to South End Long Brid~e, Va., 43 miles ; and from Bowie to Pope's Creek, 49 miles: tota.l, ~2 miles-inoludlng tunnel in City of Baltimore: lea Ees branch 4 m.; tota.l operated 96 miles. Controlled by the Pennsylvania. RR. Co., and flrst mortgage bonds guaranteed by Pennsylvania and Northern Central. Stock, $4,374,250 (par$50), of which Penn.RR. owns $3,541,100 and Nor. Cent. $622,850. Income bonds are al! held by Penn. RR. Co. Consol mort~age of 1889 (Trmtee Sa.fe Dep. & T. Co. of Bal• timore) provided for retiring $2,000,000 incomes, with interest to the extent ot $1,000,000, and for the taking up of $4,500,000 prior bonds as they mature, the remainder authorized to be applied, upon authority hereafter from the stockholders, to construction, equipment, &o. In 1888, gross earnings, $1,539,127; net earnings, $509,562; sur. over fixed charges, $230,853. From Jan. 1 to Nov. 30, •~9 (11 mos.) gross earns. were $1,500,253, agst. $1,425,900 1n '88; net, $360,435, agst. $495,318. (V. 49, p. 82, 616.) Beech Creek.-Jersey Shore, Pa., to Gazzam, 104 miles: branches to Philipburg, to mlnes, &o., 2 8 miles; total, 132 miles. This is successor to the Beech Creek Clearfield & S. W. reorg. in 1886. Dividends on pref. stock s 'nce reorganization were at the rate of 5 per cent per an• num till 188 9, when only 2¼ was paid on account of damage by flood. Car trusts outstanding are $225,000, In 1888 gross earnings were $913,334; net, $372,734; surplus over :fixed charges, $126,223. Wm. A. Wallace, Clearfield, Pa.., Pres. (V. 46, p. 573; v. 48, p. 250.) Belvidere Dela~are.-Owns from Trenton, N. J., to Manunka Chunk, N. J., 67 miles; Flemington RR., 12 miles; operated cut-o:tr,1 ILile; total operated, 80 miles. Leased to United Companies, and trans• ferred to P ennsylv ania. RR. March 7, 1876, by which operated as their Belvidere D ivision, and net earnings pa.id over as rental. Penn. RR. owns most of the 7 per cents. In 1885, the Flemington RR. Co. was merged in this. The 1st mort. (convert. Into stock) and new 4 p. c. bonds are guar. by the United Co's. All mortgages except 1st have sinking fund of 1 per cent, if earned; no bonds drawn. In 1888, net, $435,399; surp. over fixed charges, $197,634. Dividends of 6 per cent are paid. Stock, $1,150,000 (par$50), all held by Penn, Co. Bennington & Hutland.-Owns from Rutland to Bennington, Vt., 57 miles ; branch, No. Bennington to New York State Line, 2 miles; total, 59 miles. Stock, $1,000,000 (par $50). Dividends since 1879: In 1880 amou nted to $10,040: In 1882, $20,080; In 1883, $40,160; then nil till 1888, when $40,000. Gross earnings ln 1888 were $213,170; net, $4.0,219; surplus over Interest, $6,969, agalnst $36,041 in 1887. Berkshlre.-Owns from Connecticut State Line to West Stock• bridge, Mass., 22 miles. Leased in perpetuity to Housatonio Railroad Company at 7 per ct. on capital stock, $600,000. Lessors pay taxes, &c., this reason the quarterly dividend due in October is usually ~~t£iJ. Billings Clark's Fork & Cooke Clty.-Projeoted from Billings, Mont., on Northern Pacific RR. , to Cooke City-distance, 115 miles with a branch extending up Bear Creek, 10 miles, maklng a tot al of 125 m il es. $800,000 of the bonds have been authorized to cover 51 :mHes of road from Billin#?B to coal fields; mortgage is for $2,000,000. Sinking fund 1 per cent after :first fiv e years, bonds drawn at 110. The 1ta~~gil. has coal land, and has a coal contract with Northern Pacific Not ea.rnmgs ............................... $2,399,661 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis a~ Dec:·3i:·i889 Feb. 1, 1892 July 1. 1895 April 1, 1902 Jan. 1, 1890 Apr.,1892&'96 July 1, 1896 July 1, 1899 May 1, 1903 Sep.liiii5·6·7 Oot.1,'97 &'98 Aug.'93&1900 Nov. 15-t 1889 Jan.,18~3&94. 1905,'07 & '37 Oct., 1889 Aug. 1, 1901S Deduct1887-88. Interest paid.................................. $662,900 Rentals ........................................ 78,000 Dividends (8 per cent)....................... 1,600,000 1888·69 $ti62,900 78,000 1,600,000 Total. ..................................... $2,340,900 $2,3!0,900 Ba.lance, surplUB... ••. .••••••• •••• .•••.. •••••• $58,761 $695,818 -(V. 46, p. 201,610; V. 47,p. 161,498, V.4.8,p. 159,222; V. 49,p. 207~ 400, 607.) Bo•ton & Lowell.-Owns from Boston to Lowell, 27m.; branches:.... Salem & Lowell, 17 miles; Lowell & Lawrence, 12 miles; others, 32 miles; Middlesex Central, 11 miles; leases-Nashua & Lowell, 15 miles; Stony Brook RR., 13 miles: Wilton RR., 15 miles; Manchester & Keene RR., 29 miles; Central Mass., 104 miles; Connecticut & Passumpsio, 147 miles; total leased, 323 miles; total owned a.nd leased, 422 miles. In June, 1884, a lease ot the North. of New Hamp. and the Bost. Con. & Montreal railroads was ma.de. In March, 1887, the Northern lease was held void. The St. Johnsbury & Lake Champlain .RR. was leased, but a suit concerning the lease is pendlng, and the road i s now operated by its owners. The Conn. & Pa.ssumpsio RR. is leased for 99 years from Ja.nu ' ry 1, 1887. A lea11e of the B. & L. a.nd all its branches to the Boston & Maine for 99 years was effected by vote of stockholders on June 21, 1S87, and In Oct. the lines pa.seed to the Boston & Maine. By the lease this com• pany receives 7 per cent on stock till Jan., 1897, and 8 p. o. thereafter. Dividends since 1880 have been: In 1881 and 1882, i per cent; in 1883, 5; in 1884, 512; in 1885 and 1886, 6; in 1887, 6~; in 1888 and since a.t rate of 7 per oent yearly. Fiscal year ends Sept. 30. No report issued since 1886. In 1887-88, net earnings, $1,058,797; fixed charges, $669,708; balance, $381J,08~ Bo ■ton & Malne.-Owns Boston to Portland, Me .• via Dover. N H., 115 m ., and branches 9 m. Leases-Boston to Portland, Me., vla. Portsmouth, N . H. (Eastern RR's in .Mass. a.nd N. H. and Port. Saco & Porte.), 108 m.; Boston to Sherbrooke. Ca nada (Boston & Lowell, Nash. & Lowell, Northern N. H., Conn. & Passump. and .Ma.ssawippl Valley RR's), 290 m .; Conway Juno., Me., to North Conway. N. H. (Ports. Great Falls & Con.), 73 m.; Worcester, Mass .. to Rochester, N. H. (Wore. Nash. & Roch.), 94 m.; North Cambridge June. to Northampton, Mass (Cent. Mas!!.), 99 m.; branches, 43 m.; total leased, 1,086; total operated Sept. 30, 1889, 1,210 miles. For terms or leases see under title of ea.ch company elsewhere In this SUPPLEMENT. • Dividends since 1880 have been: In 188 1 to 1885 lnoluslve, 8 per ct.; ln 1886, 9½1; In 1887, 10; in 1888, 9; in 1889, 9. There were outstandlng Jan. 9, 1890, $2,765,000 notes payable. Report for year ending Sept. 30, 1889, was in CHRONICLE, V. 49, p . 822. Earnings a.nd expenses below are for the whole system, includiD.,,.. Bost. & Low. in 1887·88 and 1888·89. ,,..,,..,- EARN ING S AND E X PENSF.S. Miles operated................. 1886-87. 609 18§7 ,:..OO 1888-89. 1,210 Earnings 581 $6,489,565 $6,885,048 P assenger . .. . •• .... .. •. .. . .. .. $~ 062 5 700 569 6 203 431 Freight·--····· ............ •·•• '310:9 89 '53.i:38 5 .Mail, express, &o ..... . ...... · · _ _ _ _ _ _ _ _ _ _ '573;329 _ __ 07· Total gross earnin 17 $7,892,632 $12,724,519 $13,661,808 Totalexpenses . ..1.o.1 c . t a xes ..•.• ~43,67~ ~ 4 2 , ~ 9,fl28,502 $4,033,306 Net .,..,rn.ings.... ............. $2,548,951 $3,391,599 $ Birmingham Sheffield & Tenn. Hlver.-Sheffi.eld to Jasper, ~a., and branches, 92 milee; to be extended 15 miles to a connection with Georgia Pacific. Stock is $2,800,000. In Sept., 1887, .Shellield & Birmingham RR. was consolidated with the Alabama & '£en nessee Coal & Iron Co. In Jan., 1889, receiver appointed and In April, :I.889, the railroad property was sold to the Bir. 8. & Tenn. River , wd the Coal & Iron properties reorganized BP.pa.ra.tely. President, A, .t'arr1£.h, Philadelphia, Pa. (V. 48, p. 128, 527.J Boston&; Albany.-Owns from Boston, Mass., to Albany, N. Y., S02 miles; numerous branches, 105 miles; leased llnes, 83 miles ; total , operated 390 miles. ·The Boston & Albany was formed <Dec., 1867) by the consolidation of the Boston & Worcester and the Western RRs. Jn 1899 obtained permission 1rom the Legislature to issue $10,000,000 additional stock, $7 000,000 being tor bonds due In 1892 and 1895 a.nd the remainder for improvements. Cash dividends at the ra.te of !- per cent yearly have been -paid tor many years. Stock dividend ot 10 per cent was paid in 1883 and of ,3~ per cent in 1886. J:'l"om July 1, 1899, to Sept. 30, 1889 (3 months), gross earn1n~s were $~,388,234, against $2,362,556; net, $874,223, agalnst $1,075,017; ,surplus over charges, $655,525, against $859,611. · Fiscal year ends now June 30, and report in v. 49, p. 4.01, showed ,the tollowir g; ' J'.NCOME ACCOUNT FOR YEARS ENDING JUNE 30. 18b7•88. 1888-89. $9,019,525 Groas ei rnings ... . ... . ....................... $8,953,105 5,~75,607 Opera.ting expenses and taxes ... . ........... .6,553,444 a~ ! l ........... . .Jan. 1, 1990 Jan. I, 1990 Jan. 1, 1990 Jan., 1889 July 1, 1936 June 1, 1902 Jan. I, 1916 Sept., 1925·27 Jan. 1, 1916 Nov. 1, 1897 Jan. 1 , 1890 Jm. 1, 1927 .......... INCOME ACCOUNT, RecP,ivts- 1886·87. Net earnings................... $2,548,ij54 Ren ta.ls, interest, &c...... ••• . • 299,750 Totalincome . .............. f2,iH,8,704 1887-88. $3,391,598 ;-38ti,~79 18~8-89." $1,033,306 397,326 ---------$3,.7 77,877 $4..,430,63~ Disbursements.. ,-d33,317 Rentalspaid,incl. Eastern RR. $1,451,075 354,853 Interest on debt..... . ••• . . • . .. . 260,609 µ:tJ) 708,ooo (8) 560,000 Dividends ...................... (10) 700,000 436,000 Ea.stern propor'n under lease.. 436,0fV ........ 6,261 Miscellaneous. ••••..........••• :,:..:...:.::.: _ .:.::.:.:.::.: _ _ _ · .9"',847,684 $3,8:i9,338 $4,290,631 Total disbursements .••• :.: sur. $1 , 021 def. $ 81 , 511 sur. $140,001 Bala.nee .••••••......•...••• ., 401 579 760 822.) -(V, 47, p. '743,760; y. 49, p, 21, 51, 269, , , , .,.w York Air Llne.-Owns trom New Haven, Conn., Bo.9ton Conn., 50 miles; leases Turnerville to Colchester, 4, to. W~operated, 54 miles. Formerly the New Haven !tpddletown mil~a.ntio. A lease was made In Oct., 1882, to the N. Y.-N . H. & Ha.rt. itR. for 91:1 years at 4 per cent dividends per •year on the pref. atook an~ interest on the'bonds; the common stock is $836,900. Bo■ion &; Provtdence.-Owna from Boston, MaM., to Providenoe '3,036718 •R, I., 44 miles; branches,20 miles; lea.sea, Attleborough to North Attle· $2,~G.e1~; ~r,' INVESTORS' SUPPLEMENT. [Vor.. ~. Subscribers will conf'er a great f'avor by giving Immediate notice of' any error discovered In these Tables. DESCRIPTION. For explanation of column headings, &c., see notes on first page of tables. Bonds-Prinoi INTEREST OR DIVIDENDS. D.ue. Miles Date Size, or Amount Rate per When Where Payable, and by pal,When Stocks-Last of of Par Whom. Dividend. Road. Bonds Value. Outstanding Cent. Payabl{I ·- -· --- - - - · Q.-J. Jan. 1, 1898 $100 $4,000,000 Boston, at Office. 2¼ 68 ,Tuly 1, 1918 1,000 1,590,0QO 4 J. & J. do do Funding bonds, not mortgage, sink. fd. '90 ....• *c . July 1, 1893 1,000 do 500.000 J. & J. do Bonda to purchase branches, coupon or re~stered 1873 7 498,000 J. & D. Last coup. pd. June, '84 June 1, 1932 Braiora Bordell d! Kinzua-lst mortgage.-.•..... o ."ii 1882 500 6 1,000 500,000 J. & J. Last paid JnJ!r, 1884. Jan. 1, 1932 Bra ford Eldred d! Oubar-lst mort .......•...•..... 4 1881 6 6 g. A. & 0. N. Y .• Cent. rust Co. Oct. 1, 1924 6·9 1884 1,000 3,500,000 Broo'ktyn Elevatea-lst m., ~• s. 1. not drawn .•.. c* July 1, 1915 1,250,000 5 g. J. & J . 1,000 do do 2d mort., gold , sinking fun not drawn ..•...... o* 6·9 1885 May 1, 1937 3,511,000 6 g. M. &N. Union Elev., 1st M., int. gu., $550,000 p. m., g. c* 4·6 1887 1,000 do do Jan. 1, 1927 4·6 1887 1,000 Nil. J. & J. do do 2d M., inc. non-cum., $185,000 per mile, gold.c* 5 1,000 580,000 J. & J. N. Y. L . Erie & W. RR. Jan. 1, 1896 Buff.Brad.d! Pitts.-Gen.M., (10,000 acres land) .. . r 26 1865 7 BujJatoN.Y.d! Ene-Stock(7 p.c.rent N.Y.L.E .&W.) 142 100 950,000 3¼ J. & D. N. Y. L. Erie & W. RR. Dec. 1, 1889 June 1, 1916 2,380,000 J. & D. do do 1,000 7 1st mortgage ..•..••.............................. c* 142 1,000 2,04'1.,000 5 g. M.& S. N. Y d~nion Tr:f!t ~o. Sept. 1. 19-37 Buff. Roch. d!Piitsb.-lst gen. M., g.($10,000,000i .c* All 1887 Feb. 1, 1921 F. &A. R. & P. lstM.. Rochester to Salamanca., l08m .. c~ 108 1881 1,000 1,300,000 6 Dec. 1, 1922 J. &D. do do 1,000 3,920,000 6 R. & P. Consol. mortgage, $20,000 per mile .... c* 261 1882 Various. 423,000 R. & P. Equipment bonds (car trust) in 5 serles.c* Var's 1,000 6 &7 Various N. Y., Gallatin Bank. Jan.193H 1,000 N. Y. Uni.on Tr. Co. 320,000 5 g. J. & J. Lincoln Park&Cli.arl.lstm. for$350,000,gu.,iz.c* ·10 1889 6 g. .J. & J . N. Y., 1st Nat. Bank. July 1, 1908 1,500,000 Buff_awd!Southw.-lstM}c.int.gr.byN.Y.L.E.&.W.c* 67 1877 50&c. 6,500,000 J. &D. N. Y., Central Trust Co. June · 1, 1906 5 Burlington a. Rapids d! orthern-lst mortga ge ..•. 369 1876 100 &c. Sept. 1, 1909 7 g. M. & S. do do 584,000 Iowa City & West., 1st M., red. after '89, guar .. c 73 1879 1,000 Oct. 1, 1920 6 g. A.. & o. do do 825,000 Ced. Ra.£. I F.&N.W., 1st M.,g.,guar.,red.aft.'90} 390 { 1880 l,COO Oct. 1. 1921 5 g. A.. & o. do do o 1st M.,gold, guar . ....•....... c l881 1,000 1,905,000 April 1, 1934 do do 5 g. A.. & o. Consol.1st M.& collat. trust, g., $15,000 p.m.c"& r All 1884 1,000&0 5,000,000 June 1,1927 do do 150,000 7 J. & D. Minneapoli• & St. Louis, 1st mort., (assumed) . ... 12 1877 500 &c. 1,000 2,250,000 412 g. J. & J. N.Y.,S.Pac.RR.,23 Br'd. Jan. 1, 1912 California Pacific-1st mort., gold (ext'd'd at 412). 114 1867 Jan. 1, 1891 do do 6 g. J. & J. 2d mort., gold, end. by Cent. Pao .................. 114 1871 1,000 1,600,000 July, 1905 do do 2,S98.000 3g.&6g. .r. & J. 3d, mort.g .. guar. by Cent. Pao. ($1,000,000 are 3s) 114 1875 500 Phila.,Of.,233 So.4thSt. Dec. 9, 1889 Oamden d! Atlantic-Stock ($880,100 of it pref.) .... 1,257,500 3 onprer. 79 50 J. ·&-·J. Dec. 31, 1892 Phila., Farm. & M. B'k. 1st mortgage (extended 20 years in 1873) ..•... c• 1,000 490,000 79 1853 g. Oct. 1, 1899 do do 1,000 497,000 A. &O. 2d mortgage .••..••..•••••..•........••..•....... o" 7911879 July 1, 1911 do 1,000 do Consol. mort., ($1.50,000are5sreg.int.at offloe).o" 79 1881 500,000 5&6 J. & J. Feb. 1, 1~97 Oamaen tJ B-urtington Oo.-lat mortgage ..•...... c* F. &A. Phila.. Penn. RR. Co. 31 1867 500&0. 350,000 6 Boston d! .Prov.-Stock, 10 p. c. guar. 99 yrs .• Old Col. --· isss is76 ·--- borough, 4 miles; total operated, 68 miles. Leased for 99 years from April 1, 1888, to Old Colony RR. at 10 per cent yearly on stock and a bonus of $1,300,000 cash, out of which an extra dividend of $32 50 was paid on stock May 2, 1888.-(V. 46, p. 480; V. 49, p. 718.) Bradford Bordell & Kinzua-(3•foot gauge)-Mileage from Bradford, Pa., to Simpson, Pa., 15 miles; Kinzua Junction to Rew City, 2 miles: Rew City to Eldred, 12 miles; Simpson to Smethport, 10 miles ; total, 39 miles. Stock is $500,000 In. Dec., 1884, default in interest was made. J. J. Carter, Titusville, Pa., President. Bradford Eldred & Cuba.-Operates Eldred to Wellsville. N. Y., 33 miles, or which 4 miles owned. Stock, $480,000; par, $100. There are also 2d mortgage bonds for $60,000, 6s, which were due June l, 1885. Foreclosure suit beguD in February, 1885. In year ending Sept. 30, 1889. ~ross earnings were $47,763; net, $7,282; deficit under charge11, $26,919. Thos. C. Platt, Receiver, 82 Broadway, New York. -(V. 46, p. 537.) Brooklyn Elevated.-Owns Irom Fulton Ferry and Brooklyn Bridge via York St., &o., to East New York, 6!\ miles, and leases Union Elevated, in operation from Broadway and Lexington A. venue to Broadway Ferry, 2~ miles, and Myrtle Avenue to Adams St. and Brooklyn Bridge, 412 mll.es; branch to Greenwood, 3 miles; total, 17 miles. Tbe eapital stock is $5,000,000 (par $100). U net earnings suffice, a sinking fund of one per cent will purchase 2d mortgage bonds if obtainalile at 90, and after 1889 a like sinking fund will purchase first mortgage bonds at 105-no bonds drawn. The Union Elevated 1st mortgage bonds, are guaranteed as to interest. The 1st mortgage is for $7,000,000, the 2d for $2,500,000; trustee of both, Central Trmt Co. See abstracts in V. 49, p. 583. Union Elevated stock is $1,000,000, par $100. Aplllication in full to N. Y. Stock Exchange was in (,'HRONICLE, V. 48, p. 129. See also V. 41,, p. 471. It is expected that a consolidation with the Union Elevated will eventually tak e place. For year ending Sept. 30, 1889, gross earnings were $1,090,326; net, $396,816; net detlcit under charges, $15,850. In 1887•88, gross earn• 1ngs were $768,361; net_. $271,984; surplus over fixed charges, $1,703. Henry W. Putnam, President. (V. 47, p. 188,594,803; V. 48, p. 100, 129,222; v. 49 p. 269, 4.71, 690, 857.) Buff'alo Bradt'ord & Plttsbnrg.-Owns from Carrollton, N. Y. to Gilesville, Pa., 26 miles. Completed in 1866, and leased to Nevr York Lake Erie & Western for 499 years. Rental, 7 per cent on ou1,• standing bonds, $40,600 a year. Capital stock, $2,286,400; par $100. Buff'alo New- ~ork. & Erl!'.-Owns from Buffalo, N. Y., to Corning, N. Y., 142 miles. Leased m 1863 to the New York & Erie for 490 years, aJ?.d now operated by the N, Y. Lake Erie & West. Co. Rental, ,238,100-VIZ., 7 pe_r cent on ~tock and b~nds and $5,000 for organiza. tion expenses. Drvidends and mterest paid directly bv the lessees. :rr~ff'alo Rochester & Pittsburg Rall-way.-(See Map.) Owns Ashfo-;d" ~estt:r,_N. Y., to ~alHon, Pa., 232 miles; Buffalo Branch from Park to Cbb~1'3-Ualo, 48 miles; other branches,. 8 miles; leases Lincoin This company~Mr Y., 10 ~lies; total, 298 miles. ester & Pittsburg and ~ed, m March., !887. !}B successor: of the Rochclosed in Oct.. 1885 and purch~burg & S.ate Lme, RR., which were foreThe preferred stock is $6,ooMOl Mr. A. Iselin. . . non-oumuiative) and common stock~ititled to 6 per cent d1V1dends, Of the ge_n. m~rt. (~ustee Union Tr. ~?2i?OO. there are :!i6,V00,000 reserved for prior bonds for $10,000,000), incomes, dutl in 1921, outstandlng. · re are also $16,000 ~om ~ ct. 1 to ~ov. 30, 1889 (2 moB.), gross earnings '\h.., agaJnst $088,498 m 1888; net, $106 4~5 avainst $146 195 e $348,359 Fiscal year ends Sept. 30. Report for 1'888-89 was in' v. 50, p. 106. • i Burlington Cedar Rapids & Northern.-On Jan. 1 '89, oper. ated from .Burlington, Iowa to Albert Lea, Minn. (including 11 milefl leased), 253 miles; branchei!-Linn, Ia., to Postville, Ia., 94 miles; Mus• ca.tine, Ia., to Riverside, Ia., 31 miles; Vinton, fa,., to Holland, Ia., 48 miles: Iowa City to What Ceer and to Montezuma, 73 miles; Clinton Division, 81 miles; Decorah Division, 23 miles; Iowa Falls Division, 430 miles; Waverly Division, 6 miles; Forest Division, 7 milles; total owned, 402 miles; total operated, 1,046 mile. This company has a per• petua.l lease of those lines (included above) built by the Iowa City & Western, the Cedar Rap. Iowa Falls & N. W., the Cedar Rap. & Clinton, and the Chio. Dec. & Minn. RRs. The Waverly Short Line is operated temporarily and the Forest Di vision to r tive years ending June 22, '92. This company was formed as successor to the Burlington Cedar Rapids & Minnesota, foreclosed June 22, 1876. Towa City & Western bonds are guaranteed as to interest and are redeemable (after August 31, 1889) at 105. .Bonds of the Cedar Rapids Iowa Falls & Northwestern road are endorsed (endorsement is on the bonds); the 6 per cent bonds are redeemable at 105 after Oct. 1, 1890, of the 5 per cents $825,000 are reserved to retire the 6 per cents. The company guarantees the above bonds. It has also assumed $150,000 of Min.neap. & St. Louis 7 per cent bonds due June 1, 1927, as commuted rental for 12 mi.Jes of road leased for 999 years from Minneap. & St. L. Stock out~tanding is $5,500,000, authorized issue, $30,000,000. The Central Trust Company is trustee of the consol. mortgage, which will retire all prior and divisional bonds. .• Annual report in v. 48, p. 661, gave net income, &o, as follows: INCOME ACCOUNT. Receipts- Gross earnings .•••. Netearnin~s .••..••• Other receipts .••... 1885. $ 3,093,513 903,970 83,798 1886. $ 2,933,309 800,905 63,252 1887. $ 3,005,962 780,057 95,789 1888. $ 2,848,076 771,447 61,282 Total income ...••• 987,768 864,157 875,846 832,729 Interest on debt .... Const'n,, equip., &c. 742,275 137,775 749,898 56,925 767,127 140,067 771,130 247,669 Disbursements- Tot. disbursem'ts 880,050 806,828 907,194 $1,018,799 Balance.. . . •......•. sur.107,718 sur.57,334 def.31,348 def.186,070 -(V. 46, p. 610, 649; V. 47, p. 472; V. 48, p; 661, 687.) CallCornla Paclfic.-Owns from Vallejo, Cal., to Sacramento, Cal., 60 miles; Adelante to Calistoga, 35 miles; Davis to Knight's Landing, 19 miles; total operated, 114 miles. Leased for 29 years, from July 1, 1876, to Central Pacific. but in Nov., 18~6, new lease for 50 years was made to Southern Pacific Co. Rental, $600,000 per annum, and three fourths of net earnings when in excess of that amount. Capital stock, $12,000,000; par, $100. Camden & A.tlantlc.-Owns from Camden, N. J., to Atlantic City, 60 miles; Atlantic City to Longport, 7 miles; Phil. Marl. & Med. RR-Haddonfield to Medford, 12 miles; total operated, 79 miles Pref. stock, entitled to 7 per cent if earned, and to as high as paid to com. if more than 7. Penn. RR. owns $234,100 corn. and$451,950 pref. stock. Dividends since 1880 have been: On common, in 1882, 3 per cent, and none since; on preferred, in 1881, 312 in scrip; in 1882, 4; in 1884, 7; in 1887, 5; in 1888, 2½a; in 1889, 5½1. From Jan. l to Nov. 30, 1889 (11 months), gross earnings on main line and branohes were $699,356, against $660,730 in 1888; net $156,788, against $133,244. On main line and branches in 1887 gross earnin"'s were $678,644; net, Receipts1885·86. 1886·87. 1887·88. 1888-8~ $13e,564.; surplus over fixed charges, $56,539; filvidends (5 per cent), Gross earnings..... $1,299,362 $1,916,361 $2,001,156 $2,021,69i «3,988. In 1888, gross, $696,128; net, $131,493; surplus over fixed Net ea~nings........ $296,706 $516,975 $447,671 $574,826 cha.1·e;a11. $34,343; dividends (2¼1 per cent), $22,001.-(V. -18, p. 367.) Other mcome....... ~ 6 5 0 77,759 30,934 15,969 Camden & Burltngton County.-Owns from Camden, N. J, Total reo~ipts ... $390,356 $594,734 $478, 605 $ 590, 795 to Pemberton, N. J., 23 miles; branch, Burlington, N. J., to Mount Holly, 7 miles; total, 30 miles. Leased to Camaen & Amboy Railroad m¥ff}J::!:!--;:T\. bonds .. $352,106 $353,910 $400 ,350 $'137, 452 Co., and now operated by the Penn. Railroad lessees of United Railroad. Int. oniloat1.a.aed.ebt 928 5,910 14,818 Rentals .••.•••..••. :. ___'.::5,200 4 , 992 & Canal Co.'s lines. Leas rental, $44,415. be~ 6 per cent on stock 62,595 741431 74 ,099 and bonds. Stock $381,925; par $25. Dividends m Jan. and July. Total disbur'm's. $40~ ~22 -415 - -- - - - - - . Ca~ada A.tlantic,-Owns Ottawa, Canada, to Rouse's Point, Vt.,. Balance.•••.••..••••• def $17 878 , • $ 489 •599 $ 516, 543 142 miles, with trackage over Central Vermont to St. Albans, 24 miles-. __ · ' sm.~l.72,:;n9 def.$10,994 sur.*$74,252 Has traffic contract. with the Canadian P~cific and "Boo" route. Trustee • Of this amount, $63 49 7 were spent f b · of mort. is Farmers' Loan & Trust Co. $1,000,000 bonds are reserved · -(V. -'7. p. 161 594 624· v 48 P 19 .2W-erments, &'o. •·forlb.e bridge. Stock, $2,000,000 common and $l,OOO,OOO : pre1~ In 207, 650; V. 50; p 106.) ' · ' · '· , ~ . 855; V. 49, p. 21, year ending Jnn&--30, '88, groas_earnings were $488,244; net, $:W6,7r>.1~ f~-) gr Buff'alo & Southwestern -Owns :fro Butt: 1 · N. Y., 67 miles. In July, 1880 leased to y ~ ti W'>:rtestown, vears-at 35 per cent of gross earnfu 8 b t 1 · · · nd · e st · 1<>1: 99 Rental in year ending June 30 1881J ' $~ 43n~~r3.stn bo s guaranteea.. 1887· 88 , $l 3 £,f>l8. Stock-common $471 833 and'$471 833 7 ' ' Common stock shares' dividends after 7 per cint preferred; par $lOO. on preferred' for year ending June 30 1sf9 prederred. Paid 8 per cent ' an per cent on common. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis i l Canada Southern.-LINB OF RoA.D-Main line :from ..Cantilever Bridge to Windsor, Ont., 226 m.; branch, Amherstburg ta. Essex Centre, 16 miles; Fort Erie Br., 17 miles; Oil Springs Br., 3 miles; St. Thoma 15 Ont., to Courtright, Ont., 63 miles; Erie & Niagara, 31; Sarnia Chatham & .1!.rlG. 7; Canada Southern Bridge & Ferry, 4; Toledo Canada Southern & Detrou,, 5?.t and Michigan Midland & Canada, 15; total of an lines operated, 4.16 miles, 'of which 105 mil~ are nominally owned by proprie tary companies under separate orgamzations . Holds praotloally an JANUARY, RAILROAD STOOKS AND BONDS: 1890.] V R G I MAP OF THE BUFFALO,ROCHESTER PITTSBURG R. R. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AND https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t MAP OF THE CAPE GIRARDEAU SOUTHWESTERN RAILWAY & CONNECTIONS. R. ~ !Z ~ tr:] U1 ~ C ~ ~ U} 0 R• Perry,'11le 0 R. To Paducah -r- ~ ~ ~ t_!l.";i ~ ~ ~ r3 JANUARY, 1890.] RAILROAD STOOKS AND BONDS. 27 Sub8crlber11 "W"lll conCer a great Cavor by giving Immediate notice oC any error dlscowered In these Tables. DESCRIPTION. INTEREST DlVIDENDS. Bonds-Princi_ _ __ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ Mllee Date Size, or Amount ---- - - , - - -OR -------,pal.W h e n Due. of of Par Outstanding Rate per When Where Payable, and by Stock8-La8t on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. For explanation of column headings, &c., see notes ---------------------,----------,------,---------1----------·1-----5 g . .J. & J . Canada Atlantic-1st mort. for $3,450,000, gold .. c• 142 1889 $1,000 $2,450,000 New York City. .Jan. 5, 1909 Canada Southe1·1i-Stock .• ______ .••..••...•..••..••. lat mort., interest guar. by N. Y. C. & Hud. Riv .o 100 1,000 1883 l,OOO&o p: tiii 100 .... Can. Cent. RR.1st & 2d morta.,lst M.s.f.dr.at 105 £100&c guebeo Prov. due on Q. M . O. & O. and N. S. RR .. .... •9"i)s3 Land mortgage bonds, gold (redeemable at 110) .. 1881 500&:o. 1st mort. debent. sterling .......................... 2,856 1885 £100&0 let mort. on Algoma Branch, £750,000 ...... o ..&r 183 18A8 £lOO&c Land gr. bds., not d'rn, int. gu. by Can.Gov't-.o.. &r .... 1888 £100&0 Consol. perpetual debenture stock ................ 1889 Manitoba S.W.Col.Ry, $12,000 p. m .• int. guar.,g. 2fa 1884 1:000 Atlantic & Northwest-1st M. g., guar........ c*&r 325 1887 £100&0 No. Shore R'y.-lst mortg . ..••.••..••.•••.•....••. ..... .... . St. Lawrence & Ott.-lst ruort .................... Op. Fear ft Yad. Val.-lstM.,ser.A $10,000 p.m. c*&r. ii5o 188t> $1:000 1st M., Ser." B," $10,000 p.m.(2d on 150 m.lc"&r 75 1886 1,000 Consol. mortgage ($15,000 per mile) .............. Oape Girardeau s. W.- Con. M. for$! ,000,000, gold "94 1888 i:ooo Carolina <Jent.-lst M .. (Wilm. to Shelby, 240 m )o.. 240 1881 1,000 2d M. (for $1,50(1,000), gold, income, non-cum .. r 240 1881 1,000 3d mort.• gold, income, non-cumulative .......... r 240 1881 1.000 Oar•on fl Oolo1·ado-lat mortgage. Series "A" ..•.. 158 1881 1,000 34 1883 Second Div. M., Ser. •·B.," ~unc. to Cal. State line. 1,000 Third Div. 1st M. Nevada ine to KeelE>r, Cal. . ... 107 1383 .. 50 Catawissa-Pref. stocJr, 7 per cen.. , :uar. P. & R. __ . 98 1st mortgage, assumed by Phlla. Reading ....•. Mortgage bonds ... : ................. :····· .......... '93 1870 500&:o. 34 o:x,uga "Sits'3it-8too.1r, 9 p. c. rental D. L. & W .... 30 C ar Falls" inn.-Bonds on 2d div .. sink. f'd.c* 61 500&0. Cent. Br. U. P .-lst M. Atch. & P. P. RR,/Z.,/Zold .. c 100 186:'i 1,000 Funnen int.(mort )bdP.(coup. held in trust) gold, c ....... 1879 1,000 o!~~iz~1:c£.itc::s·icic:i:· cguar: s· c: ·div: ;~:r. 436 404 404 5,075 is7s --· iss2 isi;s stock and bonds of the Can. So. Bridge and of the Tol. Can. So. & Det• railroad companies. The Canada Southern Railway Company was chartered in Canada February 28, 1868, and debt readjusted by Act of Parliament iu 1878. Interest on the 1st mortgage is guaranteed by the New York Central Railroad Co. till 1898; but tlie principal is not guar• anteed. In Nov.. 1882, a close contract wa@ made with the Michigan Central for 21 years from Jan. 1. 1883, providing for the payment to Canada Southern of one-third the joint income over all fixed charges, ~;r; by reduction of its interest charges, now receives fh!1~:.~ig-~:cf~: Dividends since 1880 have been: in 1881, 2¼ per cen~; in 188:l, nil : In 1883 and 1884, 2; in 181::S5 and 1886, nil; in 1887, 1883 and 1889, 212; 8 1~~~is f~~asurolus to C. S. for dividends was about 8 m410,ooo. and $llo,OOO was paid out of the surplui ot former years, "" leaving: a nominal surplus of :¥204,402 carried forward; for 1888 surplus. was $339_.161; for 1887, surplus, $540,870. For_latest· reports of earrungs see Michigan Central. (V. 4B, p. 588,763, 804; V. 49, p. 825.) Canadian Paclfic.-The main line extends from Montreal to Vancouver on the Pacific coast in British Columbia, 2,906 miles. There are branches and auxiliary lines owned of 926 miles, and 1,242 miles of. leased lines, making the whole system l5,075 miles. (See details in CHRONICLE, Ma y 25, 1889. The road was opened _throughout the first of~1!;1Ycfn8a.8d~an Pacific was incorporated February 18, 1881. under a charter from the Dominion of Canada. The company had an important contract in its charter, receiving from the Government $25,000,000 in cash as a subsidy, also 25,000,000 acres of land, all to be flt tor settlement. In Nov., 1883, the Dominion Government gave a, guarantee of 3 per cent dividends per annum till august, 1893, on $65,000,000 of stock. In May, 1838, the company voted to relinquish its exclusive right to build and operate in Manitoba, receiving the Dominion Government . guarantee or interest on $15,oOO,OOO of land grant bonds. These bonds tor £3,093,700 are a lien on 14,S34,23S acres of land subject only to $3,442,000 land grant bonds of 1881. The consol. debenture stock was issued 1n October, 1889. (See CHRONICLE, V. 49, p. 116) The Manitoba Southwestern Colonization Railway, extending fr Jm Winn1pe~ southwestel'ly, is leased for $600 per mile yearly, interest on bonds bemg guaranteed. To the Atlantic & Northwest RR., crossing the State of Maine, the DomiL,ion Government grants a subsidy of $186,000 per year till 1906 and Can. Pac. guarantees the balaiica of money necessary for interest. The lands in posses$iOn of the company unsold Dec. 31, 1888, were 16,166,960 acres. The land bonds of 1931 are receivable for lands and may be paid off at 110. Dividends since 1882 have been: In 1883, 219 per cent; in 188!, 5; in 1885, 4; from 1886 to 1889 inclusive, 3 per cent yearly; in February, 1890, 219, of which 1 per cent wa;i a supplementary dividend paid out ot earnings. (See V. 60, page 57.1 From.January 1 to November 30, 1889 (11 months), ,troes earninJl:"8 were $13,,44,857, against $12,049,093 in 1888; net, $5, 4 89,il3~, against $3, 4 52,100. The annual report for 1888 in tne CHRONICLE, v. 48, p. 661 and 689, · 8h· owed the rOnowmg: 1887· 18 8 1886· 4 •960· 4 ,'164 5 ,o'175· Miles operated Dec. 3 1.... .Flamings$ 3 170 714 $ 3 4 53 8 l 8 $J 800 884 P assenger.................. ' • ' 17 ' 4 6 •' 924 ••130 6 ,112 ,380 Freight·--······---···--··· ~.o 710 465 1 228 1 •377,:n nd 798 • Mail, express a miec'us. • · •338 Tota] earnings.'. ....••. $10,081,t:S04 $11,606,413 $13, h ·l:>,5~6 Operating expenses...... 6,378,317 8.102,295 9,324.,761 Net earnings .............. $3,703,487 :ti3,504,118 $3,870,775 Per ot. of op.exp. to earn'gs 63·26 69·81 70·66 INCOME ACCOUNT. 1886. 1887. 1888. NEt earnin![B. ••. .• .••..••• $3,703,487 $3, "l04., 118 $3.870, 775 Fixed charges............ 3 068.042 3,i50,264 3,54.4.,351 s 1 $635 44:; G!253 854 "326 424 urp us .••. ···--······· ' "' ' lll · ' -(V. 47, p. 50,170,472: V. 48, p. 250, 398,427,633, 661, 688,689; V. 49, p. 116, 173, 539, 689; V. 50, p. 37.) Cape .Fear & Yadkin Valler.-InoperationfromFayetteville, N 0., to Bennettsville, 8. C., 57 miles; Fayetteville, N. C., to Mt. Airy, N. c., 167 miles; Factory branch, 10 m.; Madison branch, 10 miles; total, 244 miles. Projected, Fayetteville to Wilmington, 80 miles; to be completed by 1890; let M. covers this division only, in addition to the two divisions now in operation. Series "B" bonds are a lat mort. on road from Greensboro to Mt. Airy and a second on the other two divisions. New consol. bonds at $15,000 per mile have been authorized, to take up the prior bondR, build extension, &o. North State Improvement Co. was entitled tn 2d mort. income bonds on ma.in line and branches, but the new consols will be given instead. Stock is $1,193,266 (par :,HOIJ). April 1 to Deo. 31 (lu mos,) gross earns. were $296,015 in 1889, agst. $245,268 in 1888:'"net, $131,928, agst. ~110,961. ln year ending March 31,11,88, gross earnings were $29 L,590; net, $14 ·i ,774; in 1888-89 gross, $347,635; n t t. :Gl62,3l)7; surplus over interest, $70,397. (V. 46, p. 319; v. 48, p, 547, '763 799.) infr~1;;; 1iii~ \1_ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 15,000,000 l14&1ex. F.& A. N. Y., Grand Cen. Dep. 14.000,000 J. & J. N. Y., Union Trust Co. 5 do do 6,000,000 M.& S. 5 65,000,000 2¼ F. & A. N.Y., 59 Wall St., & Lon. 1,749.833 Montreal. 5&6 Various 7,000,000 A. & O. do 5 s,a2,ooo 5 g. A. &O. Montreal,N. Y.orLondon 34.998,633 5 g. J. & J. London, Baring B. & Co. 3,650,000 5 g. J. & J. do do do 15,000,000 do 3½g. J. & J. London. J. & J £903,375 4 2,544,000 5 g. J. & J. N,Y.,59 Wa.11 & London. 6,472,667 5 g. .J. & J. London,Baring Brs.&Co 436,053 do do 5 973,333 4 6 g . J ..&•.D. N.Y., Farm. L.& Tr. Co. 1,500,000 734,000 6 g. .J. & D. do do ..6.g. M.-&-·s. N.Y., Bk. or Commerce. "ioo,ooo 6 g. J. & J. Phila., Meehan.Nat.Bk. 2,000,000 6 g. J. & .J. 1,200,000 ....... -... 6 g. A. &O. 1,500~000 2,250,000 J. & J. New York. 6 510,000 J. & .J. do 6 1,620,000 do J. & J. 3,200,000 M.&N. Philadelphia Co.'s office F. &A. Phila .• Phila.& Read.Co. 230,500 6 no 1,300,000 F. & A. do 7 589,110 4¼ J. & .J. New York, 52 Wall st. 1,377,000 J. & .J. Last paid Jul~'. 1887. 7 1,600,000 6 g. M.&N. N. Y.,195B'y&Un.Tr.Co 6::10,000 7 fl, M.&N. do do --sis Ft:b. 1,1890 Jan. 1, 1908 Mar. 1, 1913 Feb.17,1890 1899 & 1910 1902& 1904 Oct. 1, 1931 July 1, 1915 .July 1, 1937 July 1, 1938 Irreemable June 1, 1934 Jan. 1, 1937 April 20, 1904 June 15, 1910 June 1, 1916 June l, 1916 sei,i:i;·i9os July 1, 1920 July 1, 1915 .July 1, 1910 July, 1911 July 1, 1913 July 1, 1918 Nov. 18,1889 Feb. 1, 1902 Feb. 1, 1900 Jan. 2, 1890 Jan. 2, 1907 May 1, 1895 May 1, 1895 Cape Girardeau South-western.-( See Map. J-0 IVll.8 from Cape Gtrar<leau. Mo., to Hun ·er, 94 m ., and . leases line to Z!l,lma, 9 m., total operated, 109 m., to a Western connection with the Current River RR. Tbeconsol mort.wasissuedtocompletetheroaJ.-bondsbein~reserved to retire the Divisional bonds when due, of which only $80,000 remain. outstanding. Mercantile Trust Co., trustee of tlle mortg. In 1888 gross earnings, $126,iW8; net $64,501. From Jan. 1 to June 30, 1889, ~rvas. $81,462; net, $35,444. President, Louis Houck, Cape Girardeau, Mo carollna Cen tral.-Owns from Wilmington, N. c., to Ru.therfordton, N. C., 267 m., and branch, 9 m .: total, 276 m. Formerly Wii.m. Char. & Rutherford, chartered in 1855, and foreclosed May 3, 1873. Defaulted, and receiver placed in possession April 5, 1876. Sold in foreclosure May 31, 1880, for $1,200,000. Controlled by Seabo:ird & Roanoke and Raleigh & Gaston. 8to3k, $ l,200,000. In year euding Ju uo 30, l889, gross earnings were $562,2 36; net, C$153,159; ht mortga,ge interest, $129,937; surplus, $23,222: bonds redeemed, $11,000. There are also $235,0001st M. 7 p. o. Wilmington R'y Bridge c o. bonds, due Oct. '90 to 1897, and $4,,,000 2d M. 5 8 , due 189~-1900, both issues being ~8,])Qnteed by the Carolina Central, tlle Wil. Col. & Aug. and tho Wil. & Weldon roads. Oaraon & Oolorado.-(3 foot gauge.)-From Mound House Nev., to Candelaria, Nev., 158 miles; Junction, Nev., to Keeler, Cal., 141 miles; total 299 miles. Road follows the valleys along eastern side of Sierra Nevada Mountains. Stock, $6,380,040 authorized; $2,760,000 issued. No information furnlshf',d, H. M. Yeringtoa, Pres't, Carson. Nev. Cata"W"ls8a.-Owns from Tamanend, Pa., to Williamsport, Pa., 94. miles; branch, Summit Station to Silver Brook, 4 miles; total operated, 98 miles. Leased from Nov. 1, 1872, for 999 years to Philadelphia & Reading. Rental, 30 per cent of gross earnings and $8,001) a year for company expenses. Funded debt was assumed by lessees. Seven per cent 1s guaranteed on the preferred stock. The c-0mmon stock is $1,159,500. (V 48, P• 481, 799.) Cayuga & Su8quehanna.-Owns from Susquehann11, River to Ithaoa, N. Y., 34miles. Leased in perpetuity to Dela. Lack. & West. at a rental of $54,600 a year. Dividends on capital, 9 to 9½ per cent per annum. Cedar Falls & Mlnnesota.-Owna from c. F. & M. junction on the D. & s. c. RR .. near Cedar Falls, Ia., to Minn. l:3tate Line, 76 miles. Leased to Dubuque & Sioux City for 40 years from January 1, 1867, at $1,500 per mile as a minimum and a contingent of 35 per cent of gross earnings from $3,500 to $7,500 per mile and of 30 per cent ot any excess over $7,500 per mile; minimum rental ts $113,370 per annum. The Dub. & s. C'. was acquired by Ill. Central through purchase of stock in 1887, and a, suit is pending to annul the lease of this road. rnterest was defaulted January, 1888. Capital stock, $1,586,500. J. Kennedy Tod, President. New York. (V. 45, p. 819, 855; v. 46, p. 74, 102, 199, 288; v. 48, p. 489.) Central Branch Union Paclfic.-(SeeMapMo. Pac.)-Owns from Atchison, Kan., to Waterville, Kan., 100 miles; leases Atchison Col & Pac. 254 miles., Atch. J. Co. & w., 34 miles., total operated, 38 ~ miles. TbeUn.Pac.Cent.BranchwasformerlytheAtohison&Pike'aPeakRR., and was one of the roads embraced in the act of Congress incorporating the Union Pacific RR. The stock is $1,000,000, of which the Union Pacific owns $858,800. The company received a Government subsidy of $1,600,000. It ie operated as a nart of the Missouri Pa.oitio system under a 25 years lease, made Sept-:, 1885, by which the net earnings a.re pa.id to Union Pacific as rental. From Ja.n. 1 to Sept. 30 (9 months), gross earnings were $566,776 in 1889, a2:ainst $657,059 in 1888; net, $128,513, against $54,941. In 1888, gross earnings, $908,324.; net, $81,200; deficit under interest, &c., $34i,Ol8. In 1887 gross earntnll's, $1,439,460; net income, $383,579. Dividends prior to current year-have been: In 1885, 5 per cent; in 1886, 10; in 1887, 10; in 1888, nil. (V. 46, p. 321.) Central KR. & Bank.Ing co. oC Georgla.-(See Map.)-Owns from Savannah, Ga., to Atlanta, Ga., 294 m.; branch, Gordon to Milledgeville, 17 m.; leases in perpetuity-Augusta & Savannah RR., 53 m.; Eatonton Branch RR., 22 m.; Southwestern RR. and branches, 333 miles; leases till 1985 Mobile & Girard R&., 85 miles; controls by ownershlp of stock-Savannah & Western RR., 370 miles; Montgomery & Eufaula RR., 80 miles; total operated and practically owned Au~. 31, 1889, 1,254 miles. Auxiliary system (the earnings of which are reported &eparately) includes, besidPs other lines, Western RR. of .Alabama, la8 miles; Georgia RR., 307 miles; Port Royal & Augusta, 112 miles; Atlanta & West Point, 87 miles; Port Roval & West. Car. 229 miles, and Sav. G. & N. AI .. 60 miles, and embraces in all, 984 miles. Grnnd total of Cent. RR. mileage, 2,23~ miles. Other lines un,: ler construction. Also owns entire stock of Ocean 83. Co. In the auxiliary llnes the Central RR. owns part interests, either half or greater, represented Aug. :n, 1888, by $3,461,64.1 stocks and $'3, 119,700 boudil or mortgage notes. In 1881 the Georgia RR. was leased for 99 years in the interest of this company and the Louisville & Nashville, which operate it on joint aocount. This company and the Georgia RR. Co. are joint owners of the Western RR. of Alabama, 138 miles. For abstract of deed and aecurlties deposited for the collateral trust bonds (Uentral Trust Co. ot .New York, Trrutee), see V.45, p 242. The Central RR. & Banking Co. i11 controlled by the ownership of a majority ot its stock by the Georgia Oompany, -which in turn ;s owned by the Richmond & West Point Terminal, giving tha.t _company control of the Central Georgia syetem. (See V. 47, p. 4.99) . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE R~ILROAD SYSTEM OF THE CENTRAL RAILROAD AND h SSISSIPPI F 0 p BANKING CO OF GEORGI.A . JANUARY, RAILROAD STOCKS AND BONDS. 1890.] 29 Subscribers -wlll comer a great Cavor by giving bnmedlate notice of any error discovered In these Tables. DESCRIPTION. For explanation of column headmgs, &c., see notes on first page of tables. Bonds-Prmoi• INTEREST OR DIVIDENDS. Miles Date Size, or When Due. A.mount Rate per When Where p~able, and by pal, par Outstandmg of of Stocks-Last hom. Payable Cent. Road. Bonds Value. Dividend. - - -· - - - ---- ------ -$1,600.000 6 Oent. Br. U. P.-(Oon.)-2d mort. (Gov. subsidy) ___ 100 '66-7-8 $1.000 100 Oentral R. R. ti Bank, Ga.-Stock_ ••....••.. _••.... 2,238 7,500,000 1,000 4,999,000 General mort. "tripartite" bonds, ......•........ c* 620 i872 1,000 Collateral trust bonds,gold, redeemable at 110.c.. ··-- 1887 4,880,000 4,600.000 100 Certs. of debt, payable at option after July, '91.. .... 1881 1,000 1882 OoeanSS. Co., l stM. , guar., s. f. $100,000 yearly. 987,000 Oentral Massachusetts-l at M. int. guar.by B.&L.. o• 99 1886 1,000 2,000,000 1,000 Oent.New Eng. ti West.-lst M. for !112,500,000 . .. o* 55 1889 (i~ 100 18,5ti ,200 Central of New Jersey-Stock t$30,000,000 author.) 676 Gen. mort. for $50,000,000 gold (reg. Q.-J.) .. o&r 350 i887 500&0. 30,460,000 1,000 5,000,000 1st mortgage bonds .....................•...•..••. 74 1869 1,167,000 1,000 1872 Bonds (convertible Nov., 1875 to 1877) ....•...•• . 3,836,000 1,000 Consolidated mortgage ............................ ·97 1874 1,000 5,000,000 1881 Am. Dock & Imp.Co. I st M.,~uar.;redeem.at 110.o* 2,310,000 1867 500 &o. Leh. Coal & Nav., mort., go d, assumed........... 1,500,000 Branch 1st m. red. in. '99 at 110, g __ o* "is 1882 1,000 N. Y. & 1,590,600 600 N. J. Bout ern lE~ mort .......................... o.. 78 1879 197.000 1,000 11 1869 Long Branch & Sea Shore, lat mort., ~ar ..•... o.. 1883 680,000 1,000 Debenture bds., conv. into stock till l 07 .• . ..••.. . 503,000 .......... Car trusts ................................ ··rfo 2,860,048 Oentrat Ohio-Stock t!f,411,550 of this is pref.) ..••. i37 2,500,000 1,000 1st mort. bonds, sinking fund . .................... 137 1,000,000 1,000 Consol. 1st mortg. (for $2,850,000), gold .••.••. c 137 issa 100 68,000,000 Central Pacific-Stock ..•......••..••...•....•....... . 1,360 1st m., ~old, (2 sink. f, $50,000 each), aot drawn. 737 · 1865-8 1,000 25,883,000 1,000 · 6,080,000 lstm.B. oaq'nVal.Br., g. (s.f. $50,000)not drawn. 146 1870 25,883,000 U. 8. Loan, (2d lien on certain terms) gold ......• 737 2,735,000 W'nPao.,lst,s.f.,g.not <lr'n($111,000,J &D,due'95, 147 is69 1:000 1,970,000 West. Pao., Government lien, gold ........... . .... 123 1869 6,000,000 1:000 Cal. & 0., 1st M.,ser. A, g. (ext'ed) } s. f. not dr'n 296 1868 5,865,000 $100,000. 296 1872 1,000 do ser. B, g. Do 4,261,000 1,000 1870 Land grant 1st mort~age bonds, not drawn, gold. 1.000 10,082,000 M.l.gr.,lst on 17m. 2d on l,244m.,g.s.f.,not dr .. . c 1,260 1889 7,000,000 0 entral of Vt.-Consolidated RR.of Vermont.1st v.. 185 1883 100 &o. 0 ·--· L't --· .--· ··-· Dividends s~oe 1881 ~ave been: ;i:n 1882. 8 per cent; 1n _1883, 71!,ii 1n 1884, 519; m 1885, 4; m 1886, 6; m 1887, 8; m 1888, 8; m 1889, 8. From July 1, 1889, to Nov. 30, 1889, (5 months), gross earnings were $3,752,590, against $3,372,8U in 1888; net, $1,186,546, against $1,331,M.9; net, inoludJng investmElnts, $1,250,963, against $1,336.061. Fi~cal year ends June 30 (cp.anged from August 31 i°: 1888.) Prf sidents report for 1888-9 was m V. 49, p. 541; see also article, p. 527. 1888-9 1887-8 1886-7 Gross earnings ••••.••......••...•• $4,421,RSO $4,874,960 $5,107,595 3,3 16,266 2,801,257 Expenses................. ..•..••. 2,4.41,81'1 Net earnings railroads .•••.••• $1,979,865 2 74,194. Net earnings steamship cos...... 35,58l Net bank and investments .... ·•· $2,073,703 526,201 119,016 $1,791,328 4 7 6 ,45 4 1 69, 6 1 2 Total net income of company $2,289,641 Less interest and rentals.·•· .. ·• l,36l,087 ,2, 718,920 ____ $2,437,395 1,653,729 $783,665 Exe. of inc. over :fl.xed charges. $928,554 -(V, 46,p.37; V.47,p.50,~6, 27-1, 284,285,410,499,664; V. 48, p. 99, 127,426,547,729; v. 49, p. 52'7, 541.) Central 1'.lassachusetts.-Owns No. Cambridge to Northampton, Maas., 99 miles . .Formerly the Massachusetts Central. sold in foreclosure September 1, 1883. The stock is $7,367,200, of which $3,897,000 is proferred. L eased to Boston & Lowell for 99 years from Oct. 1, 1886 at a rental of 20 per cent of gross earnings up to $1,000,000, but with i guarantee of sufficient r ental to pay interest. (V. 45, p. 642.} Central Ne-w England & Western.-(See Map.)-Owns from Camp~ell Hall across the Hudson River a t Poughkeepsie to Silvernails, o5 mUes. Leases Hartford & Conn. Wegtern, Hart (ord to Rhinecli:ff, 108 m.Jles, and operates the Poughkeepsie Bridge line, 3-¼I m.· total, 16612 miles. Extension to Springfield, Mass., in progress. This company was organized in July, 18 39, b y a consolidation of the Hudson Connecting RR. and the Poughkeepsie & Connecticut RR. '. fhe lease or the Ha.rt. & Conn. West. is for 2 per cent per annum on the stock ($2,627,300) and interest on the bonds. The mortgage covers the r(?ad f~om Campbell Hall to Silvernails, excepting line of Pough ~eeps1~ Bndge Co.; also covers real estate equipment, &c.; also the rights m the l Pase of the H. & C. W. R &. and 13,900 shares of that Co 's st~ok. Fidelity Ins. Trust & Safe Dep. Co. of Phila., Trus ·ee. John 08. Wilson, Pres., 115 Broadway. (V. 48, p. 580, '688; v. 49, p. 82, 173.) Central oC New Jersey.-(See Ma,P)-Owna 362 miles, leases in p_e rpetuit.y 230 miles and operates 36 miles ; total, 628 miles. In addition own~ the Dela~are & Maryland system. 48 miles, and ferries and steamer lines, 33 miles; in all 709 m iles. The prinoinal leased line is the Le~gh _& Susqueh~a. and branches, 184 miles. (See Leh.igh Qoal & Nav1gat1on.) The mlillIDum rental of Lehigh & Susquehanna is $1,885,800 till 1893, and after that $2,043,000. The New York & Long Branch Railroad stock and New J er sey Southern Railroad s tock ~re owned by the Central of New .;ersey, and their bonds are included m its. debt. A majority of the Lehign & Wilkesbarre Coal Company's stbo1:c 1s held by Central of New Jersey, and of the $11,500,000 Lehigh & Wilkesbarre Coal consol. 7 per cent bonds, $6,116,000 are held by Central of New J ersey and receive interest after all other bonds are satisfied. The entire 0!1Pital of the American Dock & Improvement Company, $3,000,000, 18 owned by the Central of New Jersey Railroad Company, and the bonds may be drawn at 110. Receivers were in possession from Jan. 1, 1887, till Jan., 1888, when the road went back to its owners. Dividends were resumed Aug., 1889. Of the general mortgage of 1887 (ilee abstract of mortgage V. 45, p. 402) $14,142,500 were reserved for other issues. Trustee of consolidated and general mortga~es is Central Trust Co. of New York. The general t,;lrg:-s of reorganization, &o., were given in the CHRONICLE, V. 44, p. 71.J._, Dividend~ since 1882 have been: In 1883, 112 per cent; in 1884, 419; 1n 1889, 3; m 1890, Feb. 1, 11?1 per cent. From January~ t~ ~ov. 30, 1889 _(11 months), gross earnings were $12,385,387, agamst :j:12,200,261 m 1888; net $5,513,551, against $5,588,768. 48, p. 426, showed the following: The r eport for 1888, in v. EARNINGS .A.ND EXPENSES. Earnings1888. PasEenger ..•..••..••..••..•••...•...••.•••• $2,269,615 Merohau dise freight .....••......••..•...... 3,128,674 Anthracite coal. ••••••..••..••..••...•..... 7,500,652 Express .......•...••..••......••.••...•.••.• 165,139 Uruted States mail ......................... . 24,498 Miscellaneous .••...•..•.••••..••...••.••.... 88,891 Total ••..••..••..••... . .......•..••..••. $13,177,472 7,204.,067 Operating expenses and taxes............. Net earnings......... •••. •••. • ••. . •• . .. $5,973,404 54·66 Per cent of expenses to earuings •••••••... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1887. $2,207,574 3,395,774 5,€32,728 80,797 23,533 8 -1,2 66 ----$11,424,6 7 4 6, 425,772 ---- $4,998,902 56·24. I 4 7 ~ g. 6 5 6 119 5 g. 7 7 7 5 6g. 5g 6 7 6 6&7 3 6 419 g. 1 6 g. 6 g_. 6 g. 6 g. 6 g. 5 g. 6 g. 6 g. 5 g. 5 U.S. Treas., at maturity. 1896, '97, '9S J. &·n. N.Y.,Kessler &Co.&Sav. Dec., 1889 J. & J. N.Y.Kessler&Co.54Wall Jan. 1, 1893 M.&N. do do May 1, 1937 Savannah, Ga. J. & J. After July, '91 J. & J. N.Y.Kessler&Co.5!Wal1 Jan. l, 1892 A. &O. Boston Co 's Oflioe. Oct. 1, 1906 M. &S. Phila. Fid. Ins. & Tr.Co. Sept. 1, 1939' Q.-Feb N. Y., 119 Liberty st. Feb. 1, 1890, do do July 1, 1987 J. & J. do do F. &A. Feb. 1, 1890 do do M.&N. Nov. 1, 1902 Q.-J. do do July 1, 1899 July 1, 1921 J. & J. do do J. & D. Phila., Leh.C.&Nav.Co. Dec. 15, 1897 Dec. 1931 J. & J. N. Y., 119 Liberty St. do do J. &D. July i5, 1899 do do Dec. 1, 1899 J. & D. do do M.&N. Maj}: 1, 1908 Phila., Guar. Trust Co. 18 1 & 1892 J ..&.J. Ba.It., at B. & O. office. Jan. 31, 1890 do do M.& 8. Sept., 1890 M. & 8. N.Y., Union Tr, &Balt. Sept. 1, 1930 F. &A. N.Y., 8.Pao.Co., 23 Br'd. Feb. 1, 1890 do do 1895, '6, '7 &'8 J. & J. do do Oct. 1, 1900 A.. & o. U.S. Treasury. .J. & J. 1895 to '98 Br'd. 23 1, 1899N.Y.,S.Pao.Co., July J. & J. U. 8. Treasury. Various 1895 & 1899 23Br'd. Cu., N.Y.,S.Pao. Jan. 1, 1918 J. & J. J. & J. New York & London. Jan. 1, 1892 do do Oct. 1, 1890 A.. & o. A.. & 0. N. Y. & San Francisco. April 1, 1939' J. & J. Bost .. Am. Loan&Tr.Co. June 30, 1918 . INCOME .ACCOUNT. 1888. • , ReceiptsNet earnings ............................... . $5,973,401 1,507,159 Income from investments ................. . Total net income $7,480,564 Disbursemenis- ·•••••••• ·•••••••·••• ·• 1887. $4,998,902 $4,998,902 [nt. on debt, oar trusts, &o ..•. $2,!360,313 Proport'n of earn'gs due under 4.577,862 leases of the L.& Sus.RR.,&o. 1,862,126- 4,722,440 $421,040 Surplus for the year.................... $2,758,123 -(V. 47, p. 108; V. 48, p. 427,827; V. 49, p. 14.4.) Central Ohlo.-Owns from Bellaire, Ohio to Columbus, Ohio, 137 miles. Leased to the Baltimore & Ohio till 1926, with option ofrenewa) by t he lessee; rental, 35 per cent of gross earnings, with minimum guaranteed rental of $166,000. Sinking fund for 6 per cents held Nov. 30, 1888, $791,000 company's bonds given above as outstanding,. and other securities valued at $163,682. The consolidated mortgage (Mercantile Trust & Deposit Company of Baltimore, trustee.) is for $2,850,000. In 1888-89 gross earnings, $1,255,751; net, $280,137; loss to lessee, $192,895. The road between Newark and Columbus (33 miles) 1s owned jointly with the Pittsburg Cincinnati & St. Louis Rail• road Co. Sto;.k dividends on common stock since 1880 have been: I» 1881, 61£; in 1882 and since, 6 per cent yearly. (V. 4 8, p. 70.) Central Pacific.-( See Map of S01tlhern Paciftc.)-LINE OF ROAD-Main line-Ban Francisco, Cal., to Ogden, Utah, (includmg 11 miles leased), 883 miles; Lathrop to Goshen, 146 miles; Roseville Junction to Oregon State Line, 296 miles; other lines 35 miles; total operated ancl accounted for Jan. 1, 1889, 1,360 miles. THE CHARTER, LEASES, &c.-The c. e. was a consolidation (Aug. 22, 1870) of the Central Pacific (organized Oct. 8, 1864), and other railroads. This company receive<1 the Government subsidy, but intet e ,t ia not pay• able to the Government till the bond~ mature. 'l'he "Thurman" act of May 8, 1878, directed that the charges for Government transportation should be withheld, and also that the company should pav $1,200,000 yearly to the Government for the sinking fund of its debt, or enough thereof to make all the payments equal 25 per cent of the net earnings each year. December 31, 1888, accrued interest due the Government amounted to $3i,6H,838, and par value of securities in United States Government sinking fund was $~,819,906. In March, 1885, the Central P a cific lines were leased to the Southern Pacific Oompany. The Cent. Pacific receives al its net surplus income above annual charges of every sort and betterment~, and a, minimum rental of $1,360,000 is provided for by the lease. STOCK AND BONDS-Dividends have been: In 1877, 8 per cent; 1880,. 6 per cent ; 1881, 6; 1882, 6; 1883, 6; in 1884, 3; in 1888, 2 p er cent; in 1889, 2; in 18!lO, Feb. 1, 1 per cent. Prices of stock since 1879 have been: In 1880, 63@9712; in 1881, 8019'clll02 7s; in 1882, 823s@971s; in 1883, 61 @88; in 1884, 30@67¾; in 1885, 2619@49; in 1886, 33@51; 1n 1887, 2 819~ 4338; in 1888, 261sl rt 37-¼!; in 1 889, 3S ·cv3Fl¾; in 1890 to Jan. 17, inclusive, 3314@:;35. Issues of bonds have sin.king funds (.see CHRONICLE v. 48, p. 311), and these sinking funds are invested mainly in the bonds of other tributary lines and accumulate; the bonds are not called in. The sinking fund8 amounted Jan. 1, 1889, to $6,533,657. The land grant bond11- are purohaRed with pr·ooeeds of land sales. In October, 1889, the company issued $16,000,000 five per cent bonds,. secured by all its r ailroads and land grant, to take up $8,822,000 sixes of 1936, the remainder of the land bonds of 189J, and fo r otherpurposes. Metropolitan Trust Co. of N. Y., trustee (V. 49, p. 340.) · THE LAND GRANT.-The totalland granted the Central Paci.tic and the California & Oregon companies was about 12,000,000 acres, of whiob abont 2,470,00u acres had. been sold toDeo, 31, 1887. In 1887 231,562 acres w ere sold for $105,324 and to tal cash r eceipts of Land Depart,. ment were $495.9-16. Land contracts on hand Jan. 1, 1888, $1,117,408. OPERATIONS, FINANCES, &c.-First dividend under the l ease was· paid February 1, 1888, and dividends have been paid regula,rly since at rate of 2 per cent yearly. FromJan.1 to Nov.30 in 1889 (11 mos), gross earns. were $14,486,944, agst. $14,565,915 in 1888; net, $5,463,383, a~st. $5,905,481 in 1888. The annual report for 1888 (UHRO~ICLE V. 48, p. 762) showed gross earnings $ 1.5,838,833; net profit due Central Pacific Railroad $962,· 831: balance due from So. Pdicifio (to m a ke guaranteed rental) $397,170. -(V. 4.7, p. 21,140, 352, 410, E-31, 624; V. 48, p. 209, 311, 688,. '762; v. 4.9, p. 341, 654; v. 50, p. 107.) Central oC VerIDont.-Tll1s company was organized in April,. 1873, under a charter from Vermont . It has no road of its own, but operates a large mileage under lease. The Consoliaated RR. of Ver• mont was organized July 1, 1884, embracing the former Vermont Central and Vermont & Canada properties. aud was then leased to ~he Cent ral Vermont. The stock of the Consolidated Vermont is $750 ,000 preferred 6 per cent and $300,000 common. The · stock of the Central Vermont is $1,000,000, and it operates under leasethe following roads : Consol. RR. of Vt.-Windsor to Rouse's Point, 158 miles; Essex Juno. to .Burlington, 8; Swantoa June. to Province J.ine, 11; Rutlind RR.-Bellows Falls to Burlin~ton, 120; , Addison RR. Leicester Juno. to Ticonderoga, 15; Montreal & Vt. Junction-Province Line to St. Johns, 23; 8. 8. & Cha.mbly RR.-8. 8. & C. Juno. to Waterloo, 43; Ogd. & Lake Champlain RR.-Rouse's Point to O~deusbure.-, 118; New London & Northern RR.-Bmttleboro to New London, 121; Brattleboro&WhitehallRR.-BrattleborotoLondon.- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C MAP OF THE CENTRAL NEW ENGLAND ~ WESTERN _ RAILROAD AND ITS CONNECTIONS. CROSSING THE HUDSON BY THE POUGHKEEPSIE BRIDGE. .A.NU.A.RY, 1890.) z :RAILROAD STOCKS AND BONDS.- 31 . J1Port~ z https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P OF THI!: NTRAL RAILROAD NEW JERSEY OF AND CONNECTIONS. 32 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. ~· (lo ~ '! "'?J ?J MAP OF THE CENTRALIA & CHESTER RAILROAD COMPANY JANUARY, RAILROAD 1890.J . 23 STOCKS .AND BONDS. 'Pl', 1·-·-·-·----------- ~~ V. o Jcffcn-son o Wilbar -~~FCCTIC ORE MAP OF CHARLESTON, CINCINNATI CHICAGO AND RAILROAD AND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis o Dobson Reids Greens SALEM o----"1,.__ _...,. .... INVESTORS' SUPPLEMENT. (VOL. L. Sub•c:rlbe.r . -will confer a great t'avor by gl-Ylng l:mmedlate notice oC any error discovered In these Tables. Bonds-PrinctINTE R E ST OR DIVIDE NDS. D ESCRIPTION. Due. Miles D ate Size, or Amount Rate p er When Where Pay able, and by pal,When Stocks-Last P ar of For explanation of column h eadings, &c., see notes of Whom. Cen t . P ayable Dividend. Road. Bond~ Value. Outstanding on :first p age of tables . ,Cenlralia cf: 0hes ·er- lst M. for $1,680,000, g ..• . c~ Char. 0inn. cf: Ohic.- l stM. , g., ($25,000 p . m.) . . c* .Charleston ti Savannah - Gen. M, $1,500,000, g ... c* - ----.... 1889 $1 ,000 121 121 373 191 191 1 st & 2d p ref in comes, $1,000,000 each , non-cum. <Ckarlntu 0olumbi a cf: Augusta-S tock . .. . . . • . .• . .••. 1st mortgage consol. • • . . • • . . . . . • . .... . ..•. . .. .. ... 2d mortgage . .... . ... . ...•........•... •. ..•. . .• . .• • . Columbia & Augusta 1st mortgati .•• .• .•.••• •.•• . Consol. mortg., gold (for $3,000. 01 ........ . ••.. c -<Jh,att.Romecl; Ool.-l st,g. ($2,24.0,000)$16,000p.m. c• Ohartiers- lst mort~age .. • . . ........ . .. ... .•.. • •. . . c -Ohuapeake ti Nash-1st m., g.,$25,000 p .m. s .f .. . c* Oh.uapeake ti Ohio-·P urch. money funding bonds.c* 1st mortga ge, gold, series "A" .. . . .. .. .. ........ ck 1st mort., gold, of 1911, Peninsula Exten sion .. c• 1st mort., gold, of 1922 on ext. (for $3,000,000). c .. Consol. m ort. for $30~00,000, gold .•••..•. c • & r Equipment trust bon .••• . . . ...•. •••. ... . .• .•• . c • Elevator Co. 1st M., prin. & int.guar. by C. & 0 .c • I ncome, 2d m ort ., t or $ 500,000, non-cum .... . c• "fJhu. Ohio ti Southwest.-lst M. , g. ($19,000 p. m ) . c* 2d mortgaf ($11,000 per mile) .. ..• .... .. .. .. . . c• Paduc.& E ·z., l st M .. s .f.,dr'n at 100($300,000 80) Equipment trust bonds for $2.000,000, not d r'n. c• -0 iuhi re-St ocK, p r eferred ($53 ,300 is com.) ....• •. Bonds, not mort., $550,000 due July 1, 1898 ... c~ (J/1.ae~o ti A l ton-Common stock . •...... . ••. . ....... Pre err ed st'ck (7 u. c. y 'rly not cumulative) .••.. Gen. mortgage, sterling, for £900,000 . •••.••.. • •. i/·i,:c~stooli:iierpet:guai-:·11y.-c.&·.i: }~t:~t~~~ Bt. Louis Jae sonville & Chic., 1st Mcfuassumed . do do 1st M. end. by c.& Alton . --· i¥o 23 35 428 503 75 8 655 ... - ---· 352 352 186 0 • 64 849 849 322 220 38 150 37 1887 l Fl 86 1 886 1869 1872 1865 1883 1887 1871 1 987 1878 1878 1881 1882 188 J Var. 1888 1 888 1 881 1881 1877 1882 '76-;78 .... isfa 1862 i864 1 864 --· I ,derry , 36 M'tpelier & White R iv. RR.-M't pelier to W'mstown, 13; B uri ington & L amoille RR., B ur l. to Camb r1d$e J une. , 34 miles; Mississ quoi Valley R R., St . Alllan s t o R ichford,Vr.., 21j miles ; t otal, 731 m. ln Sept., 1 888,leased theMissisq uoi Valley R.R., at 4per cent on$500,000 stock, .pay able Jan. 1 and J uly 1. · A nnual report for 1888-89 was in CHRONICLE . V . 4.9, _p. 653. In year ending June 30, 1 889 , gross r eceipts, $4,780 ,913; net earnings, $1,422,178 ; b a: ance ov er r entals , taxes. interest , etc., $ 57,21:'.>. In 1887-8 gross, $4,773,373; net, $1,356,751; balan ce ov er •rentals, taxes, interest, $54,732. (V. 47, p. 459; v. 49 , p. 653.l Cent ralia & Ch ester. - (S ,e Map.J - Chartered to build from Chester, 111., to Alta mont, Ill., with branch to a point opposite St. Genevieve. Total distance 140 miles, i:lcluding siding. Road complete d and in op eration b etween S parta and Cou lter ville and over 30 mile:i of roadbed betw een Coulterville and Centrali a. graded. Bonds authorized $12,000 ver mile, covering road bed and equtpment; stock issued a n d .subscribed for l ike amount, The road Js standa r d gauge and is b eing laid with 5 6 l b. st eel rail~. C harle ton Cincinnati & Chicago. (See lfap.)- This r oad is being '.milt by the Mass. & S,mth. Ca r. Coll s truc tion Co. from Charleston 8. c., through t he States of South Carolina, North Car olina, Tennessee, Virginia and Kentucky, to Asbland, on the Ohio River; 14 7 miles betwe en Camden, S. C., and Ruthe1•fordton, N . C., is now in opera tion , forming a through line, in connection with the South Carolin a RR., 290 miles long, between Charleston, 8. c., and Ruther • f ordt o::i, N. C. The bonds h ave been negotiated with a 6yndicate f ur buildm~ 200 miles from Rut '.le rfordton to Minneapolis, West Va. , where connection is m ade with the Clinch Valley D ivision of Nor folk & Western, and road is in progress. The counties, towns and townships through which the road runs ha,e already voted aid to the amount of abou t $1,5 00,000, payable in their 6 and 7 per cent bonds, in exchange for an equal amount of stock . These subscriptions are payable as tlie road is completed. Stock, $762 ,000 . Par value, $100. Gene,ra.l offices of the Co., 45 Broadway, N. Y. (V. 46, p . 221, 526; V. 49, p. 269, 4.0 2.) Charleston & Savannah.- Owns trom Savannah, Ua., to Charleston Junction, 8 . C., 104 miles (excep t 7 miles trackage), and brhnch t o Y oungs, l'd, 6 miles; operates-Ashley River branches, 4 miles; Charleston Junction to Charleston, 7 miles; total operated, H l miles. This was ti.rat the Ch arl. & Sav. RR.; reorganized in 1866 under n ame of Savannah & Ch arleston, and op ened March, 1870. Sold in for eclosure June 7 , 1 880 , and present company organized. Stock, ,500,0 00. Earnini:ts, gross in 1888, $554,191; net over expenses and taxes, $93,073; sm·plus over charges, $9,453, agst. $2,901 in '87. Pc1,id 1 12 per cent onin-0omes in March, 1989. H .B.Plant, P res't, N.Y. Charlotte Co l umbi a"& Aug u s ta.-OwnsfromCharlotte, N.C., to Augusta, Ga., 191 Ill.lles; leases Atl. Tenn. I. O. RR., Charlotte to Statesville, 44 m.; Cheraw & Chester, 29 m,, and Chester & Lenoir, 109 m.; total operated 373 mil1 s. Controlled by Rich. & D anv. since le 78, and in May, 1886, leased to that company for net ea rnings. There was due o t her companies J1me 30, 1889, $5 3 ,329. Of the stock $1,300,0 J O w a.~ deposited by Rich. & W. P. Term. under its collateral trust dee.i or 1 889. Dividends in 1888, 4 per c ent; in 188 9, 2 . In year ending Sept. 30, 1887, gros s earnings were$826,116; n et over expenses and taxes, $a04 ,246; surplus over interest .and r entals, $'13, q54, Gross, 1887-88, $914,815; net, $3 59,702; surplus over all interest and r entals, $104,584. (V. 46, p. 699.) Chartlers.-Owns from Mansfield, Pa., to Washington, Pa. , 23 m. S old under foreclosnre, and reorganized in 1867. L eased for 99 years from J_anuary 1, . 1872, to the P1ptsburg Cincinnati & St. Louis; t he rental 1s n et earrung s. Gross earnings in 1888, $19 2,236; net ear nings, $ 57,727; surplus ov er int., e ' c. , $26,834; dividend, $32,267; def., -$5,433. In 18~~ gross $195,863 ; net, $75,84.8; surplus over fixed charges and d1v1dends (5 p er cent), $8,076, Capital stock, $645,300 <par $50>, of whtch Penn. RR. owns $326,350. Dividends since 1880 w ere as follows: 1881 to 1886, incl. , nil; 18d7, 1888 and 1 889, 6 p . c. Cha ttanooga Rome & Cohunbns . -Owns from Chattanooga to C a rrollton, 140 m., and proJected to Columbus, Ga., with branch to Montgom ery. This COID;pany is successor to the Rome & Carrollton RR. There are ti p er cent mcome bonds, non-cumulative, for $1,400,000 . Stock, $2,800,000; par $100. Of the 1st mortgage bonds $150,000 are hel d to retire same amount of R. & C. prior bonds. (V. 4 9, p . 269.) Chesapeake & Nashvlll e.-Road owned from Gallatin to Scotts. ,-ille, Tenn.J.. 3 5 miles, and branch, Gallatin to Hartsville, 12 miles, in _; progre!!S- vonstruction fi:om ~co~tsville t o near Danville, Ky., 105 miles, 1s proposed. There 1s a sm k m g fund of one p er cent, but bonds ~ r e purchased not drawn. Stock, $1,050,000; p ar, $100. Ch esa peak~ & Ohlo.-(SeeMap.)- Old Point Comfort Va. , via Newport Ne.ya, to Big Sandy River, Vf. Va. , 511 ~Les ; R ich mond to Clif ton Forge, 231 miles ; br anch to Lexmgton, 19 miles ; l eas ed, Buckingh a m RR., New Ca n ton to Arvon. 4miles; Valley R R. co nnection, 2 m iles Also c~ntrols and operates the Ma ysville & B ig Sandy RR. Co. (Ashlan d to Covm1?tpn. Ky., 143 m.) and bridge betw een Cov in~ton & Cinn.; total, ·911 m. The exte_n sion to CinD;, Wi:ts opened Jan., 1889. In May , 1839, took over the R. & A. road, whrnh 1s h ere inclu ded m the mileaae Tb~ present. Ches al;)ea~e & 9hio Ra1lw11,y Company was r e org°anized and 11s e xtension to Cm c1nnat1 was undertaken in 1888 by Drexel Morc an & Co., and successfully carried through without foreclosure, ' https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - - - - ·--- J uly 1, 1919 5 g. J. & J. (f) 5 g. Q.- J. Bost. Sare D . & T. Co. July 1, 1947 4,7 62,000 7 g. J. & J . N.Y.,12W.23d&Cha'st'n Jan. 1, 1936 1,23 6.000 2,000 ,000 Irredeemable. 7 . 1 N.Y. ,Rich.& Dan.,2Wall June 1, 1889 2,578,0 00 J . . &.J. do do Jan. l, 1895 2 ,000,000 7 A. dt O. do do Jan. 1, 1910 7 500,000 do J. & J . do 189,500 Jan. 1, 1890 7 6 g. J. & J . do July 1, 1933 do 306,000 1:000 5 g. M. & S. N.Y ., Simon Borg & Co. Sept., 1937 2,090,000 1,000 A. &O. Philadelphia, P en n R.R. Oct. 1, 1901 500,000 7 1 ,000 5 g. F . & A . N.Y.Office,Mills B'lding A~. 15, 1937 875,000 1,000 6 g. J. & J. N .Y.,Dr exel, Morg. & Co J y 1, 1898 2,287 ,000 1,000 do 6 g. A. &O. do 2,000,000 July 1, 1908 1,000 do 6 g . A. & O. do Jan. 1, 1911 1,000 2!000,000 6 g . J. &D. do do 142,000 June 1, 1922 500 &c. 5 g. M. &N. do do 1,000 19,693,000 M~ 1, 1939 do 6 g. Various do arious. 855.000 1.,000 4 g. A. & 0 . do E00,000 O ct. 1, 1938 do 1 ,000 Oct. 1 . No coupons paid. 4 315,000 Oct. 1, 1988 1,000 6 g. F . & A. N. Y., 23 Broad Street. Aug. 1, 1911 6,176,600 1 ,000 F . & A. do 3 ,601,000 Aug . l, 1911 do 6 1 ,000 6&8 F. & A . do 500,000 Feb. 1, 1897 do 1,000 J. & J . do 6 do 679,000 Yearly to 1892 1,000 Jan. 10, 1890 2,153,300 3 on j ref J. & J . K een e, N. H ., Office. 100 J. & J . Boston Na t. B ank. .July 1,'96&'98 8 00.000 500 &c. 2 Q. -M. { N.Y.,Jobi;Paton&Col Deo. 2 . 1889 100 14,114,600 (t.- M. 2 a nd Chic. Treas.Office Dec. 2, 1889 3 ,479,500 100 6 g. J. & J . Lond'n,J .S.Morgan&Co. July 1, 1903 4 .379,850 1 ,000 Jan. 1, 1893 J. & J . N . Y., John P aton &Co 2 ,383,000 1,000 7 H, Q. -J. J aa ., 1890 1,500,000 N. Y. U. 8. Trust Co. 100 A. &O. N. Y., John P aton &Co., April 1.1894 1,000 2,365 ,000 7 O. & A. 1, 1894 5 64 ,000 April 1 ,000 do do 7 1,000 1 ,000 1,000 100 500 &c. 1,000 In August, 1888, a n arrangement w a s ma.de to a cquire the R ichmond & Alleghan y Road (252 miles) on whic h proper ty t here are to be issued bonds as p er statement under R. & A. in t h is SUPPLEMENT. Un til .Jan . 1, 1894, the v o ting p o wer and c ontro l of the com p a ny remains w i th three t rusteefl, viz.: J . Pierpont Morga n, Joh n Cr osby Brown a n d George Bliss. 1n July , 1 889 , a contr olliug interest 1n the stock was pur chased by the parties interested in Cl. C. C. & St. L , the "BigFour." The plan of reorganization was given at le ngth in the CHROXIOLE of February 11, 1 888 (V. 46) , on p age V. of advertisements. The consol. mortgage is for $30 ,000,000 (trustee of mortgage, Central Trust Co. ), and sufficient bonds are r eserved to provide for prior liens, the balance being h eld in the Treasury for use as n eeded. '£his mortgage is also se cured by deposit in t rust of the $11,000,001) bonds an 'l two-tbirds of the stock of the Ma ysville & Big Sandy RR., Ashla nd to Covington, Ky., an d t he Bridgd t o Cinu., all ow ned by t he C. & 0. RR. Co. (S ee abstra.ct of mortga ge m CHRONICLE, V. 49 , p . 147.) The Elevator Co. mortgage covers grain elevator of 1,500,000 bushels capacity, and land, &e., at Newport News. The stock is $40,000,000 common, $12,000,000 1st pref. 5 p er ct. non-cumula tive and $12,000,000 2d preferred 5 per cent. There are also $170,000 New River bridge bonds. The annual fixed charges fo r re ntals and interest in 1889-90 will be about $1,600,00 0. Frnru Jan. 1 to July 1, 1889 (6 mos.), large e x p enditures were made on the Rtch. & Alleghany for betterment s a nd charg •d in expenses, the ~ross earn1ngs of C. & 0. and R. & A. were $2,597,775, against $2,419,· 839 in l e 88, and the net, $411,619, against $380,957. Arter July 1, 1889, the combined system was operate d as a whole on its merits, ana. from July 1 to Nov. 30, 1889 (5 months), thti gross e arnings were $ 2,990,235, against $2,275,486 in 1888 ; net, $967,696, against $ 568,206. No annual report o! the old Ches. & Ohio for 1888 was publish ed , but the gross earnings were $4.,415,236; net, ~887,608. In previous yeara tLe income a c count w as as follo ws: 1 887. 1886. 1885. Gross earnings . ••. . ••. . .••.. • •. .••• $ 3,361,23~ $4,096,0 ! 8 $ 4,451,168 3 ,152,170 2,867,981 Opera ting expenses .•• • .•• . . • •. . . • 2,374,159 Earnings over oper . exp en ses . ... . $987,0 75 $ 1,"l28,0 66 $1,29 8,998 7,081 11 ,626 1,557 Oth er receipts . ........... . .• .. ••• . Total.. . . .. .... . . . .. . . • • • . . • . . . . $908,633 $1,239,693 $1,306,079 110,q78 109,227 9 1,632 Taxes and rentals. ..... .... ....... . Bala.nee n et earnings. . . . ... ... $896,981 $1,130 ,165 $1,195,201 -(V. 48,p. 37, 66, 9 9, 189,222, 4 89; V. 49, p.21,113, 147 , 269, 539.) ~ he11apeake ~hlo & Sout hw~s tern.-Louisville, Ky., t o Memphis, Tenn., 392 miles, and branch Elizabethtow n to Cecilian Junction, 6 miles, 398 miles; of which Js leased from Louisville & Nashville t tleir Cecilian branch 46 miles. In Feb., 1886, leased to the Newpor t News & Mis~Jssippi Valley Co. for :fifty years. The company purchased the Memphis Paducal;l. & Northern-Paducah to Memphis-and the Paducah & Elizabethtown, subhject to the $500,000 mortgage on the latter, and leas~d 1:n perpet ui~y t e Cec_ilian Branch of Louisville & Nashville, from Lomsville to CecWan Junction, for $60 ,000 per annum, with option of purchasing it for $1,000,000. Stock-Common, $6,030 600 , and pre' ferred, $3,696,000 ($164,000 unissuedJ ; par, $ LOO. From January 1 to Nov. 30 (11 months), grnss earnings were $1,· 9J7,998 in 1889, against $1,817,499 in 1888; net, $810,37 , , a(J'ainst 0 $661,726. The annual report in V. 48, p. 461, allowed the following: 1888. 1887. 188 6. 18 35. Gross ca.rninga .. .•. $1,571,155 $1,713,326 $2,001,723 $ 2,005,1 68 $,4s,no $821,863 $656,525 $502,530 N~;t~~fet!enes:.:· Re ntals .... .. . . .•• Inter est ... . . . . . .•• Taxes, general, &c. $63,167 513,365 58,389 $77,111 514,989 82,521 f 6 7,666 58 5,098 63,108 $68,712 683,128 75,032 $715,872 $674,621 :i,634,92l Tot. disbursem'ts $:,26,872 Ba.lance . .• .. ••.. def.$132,391 def. $18,096 sur.$105,991 def. $81,162 -(46, p. 134, 448 , 8 0 2; v. 48, p. 461, 633.) Ch eshlre. -Owns from South Ashburnham, Mass., to Bellows Falls, Vt., 54 miles; leases, Monadnock Railroad, Wmchendon to P~terboro, N H., 16 miles; and 10 miles Vermont & Mass· total 8 0 miles: but the Monadnock, 16 miles, is not included in the 'Cheshire earnings, l~aving 64 miles operat ed. R ental paid to Vt. & Mass. for leased p ort ion of r oad $ 51,000. C?lpital stock-common, $53,300, and preferred, $2,100,000. I n y ear ending June 30, '89, gross receipts were $609 ,276 ; n et , $ , 44,40 4; d eficit after fixed charges and 6 per cent dividends on p r ef. stock $8,102. In year endiug Sept. 30, 1888 , gross $611. 63 6; net , $ 194,363; deficit aft er fixed cha rges and 6 per cent dividend oh preferred stoc_k $3 0,637. Dlvidends on pre ferred st ock since 1876: from 1877 to 1:8 79 m clu s1ve, 1 per <:e nt; from 1880 to 1885 inclusive, 3; in 1886, 5; m 1887 an d 18 d8, 6; m 1889, 6.-(V. 4 7, p. 625.) Chicago & Alton.-LINE OF Ro.AD-Joliet to East St Louis (main), 244 miles ; Bran ch es-To Coal City, 30 mues; Dwight to Washington ~ L ac'n, _80 miles; Roodllouse to . Louisiana, 38 miles 1; Upper. Alton lin~, 8 miles. T otal owned, 400 miles. Leased-Chicago t o Joliet, 37 miles ; Bloomington to Godfrey, 150 miles· Louisiana to Ced ar Cit y, 101 miles; K ansas City to Mexico, 162 miles. T ta.I leased, 450 miles. Total oper ated, Dec. 31, 1 888, 849 miles. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE CHESAPEAKE & OHIO RAILWAY · AND ITS CONNECTIONS. INVESTORS' SUPPLEMEJ\T. [VOL. L. Sub111cnb ers will conf'er a great f'avor by giving Immediate notice of' any erro r d iscovered In these T ables. Bonds-Prinot INTEREST OR DIVIDENDS. DESCRIPTION. pal,When Due Miles Date Size, or Amount of Par Outstanding Rate per When Where Payable, and by Stocks-Last lt'or explanation of column headings, &c., see notes of Road . .Bonds Value. Cent. Payable on first page of tables. Whom. Div1dend. l ·- - Chicago ti .Alton-(Oontinued)- St. L. Jacksonv.& Chic. 2d M. endorsed by C. & A do do 2d M., assumed (conv.) .... La. & Mo., 1st M. ($439,100 assumed b;r C. & A.) do 2d M. (int.guar. C. & A.) ................ do guar. oref. stock ...•......•......•..... 13. f. bds.for K.C. Bt.L.&C.(lst M. as collat )not dr'n Pref stock K. C. ot. L. & C., guar . ....•.....•..... Miss. Riv. Br. stock ·(7 p. ct-. guar. C & A.) . ....... Mias. Riv. B'ge, lat M.,assumed, s.f. dr'n at 100 Chicago & .Atlantic-1st mort., gol , $or£ ....•.. c'" 2d mortfage (for $5,6'00,000) .. .•....••..... .. . o• Termina bonds 1st :M., int. 4% 'till July, 1893 ... Car trust, series A, original i ssue, $651,000 ...... Ch,icaf: Burlington & Northern.-Btock ...•..••...•. 1st ., s. f., red. atl05 ($25,000 p. m.J . .•. . . . . c* 2d M. ($10,000 p. m.), r ed. after May 31, 1898•. c* Ten-year ilebenturea, exchan:fal.lle for 2d M. .. . c* Equip. M.,red.at 105; after'!) 10 % dr. y'rlylOO.c* 8... OhicagoB ir-tirigton ti Quincy-Stock ..•.....•....... Conaolidat;Pd mortirage (for $30,000,000) ...• . .. o.. Trust mort. Iowa, fil'. at 100 & 105 (s.f. llg p.o.).c&r Denver exten., bonds d ·awn at 1 00 (s. f. t p. c.)c* .Bonds for Bur. & S.W., drawn at 100 (s. f. lp. c.).c* Debenture bonds for Han. & St. .To. stock . .... . c* North Cross R.R. 2d. M (now 1st), g.,s.f.,$50,000 'Trust mortgage (Burlington to Peoria) ..... ... . c* Plain bonds ................. . ...........•...... c" >Bink. fd. bds. (for Albia Knoxv. &D. M. ),uotd1 'n.c* Nebraska ext., $20,000 p. m.(s. f. not drawn) .c•&r Ottaw a Oswego & Fox River, 1st .M. •••••••••• •• ck Ill. Grand Trunk, 1st M., $2 0,000 p. m., int. gu .l.'... Quincy & Warsaw, 1st mort., int. guar . ........ . c"" - - ·- - - ----- 37 150 101 101 101 162 162 1868 $1,000 1,000 1868 1,000 1870 1,000 1877 100 i878 1,000 100 - 249 ...... 1883 1888 363 iss6 1888 .... --· i877 249 1881 363 363 ··-- 4,{ff7 825 7~0 ii:i9 ioo 96 "33 --;.;o 4S 40 ---· 1886 1888 i873 1879 1881 1881 1883 1860 1864 1872 1875 1887 1870 1870 1870 1:000 1,000 1,000 1:000 100 500 &c. 1,000 1,00) 1,000 100 1,000 1,000 1,000 1,000 1,000 500 &c. 1,00 -> l,OOu 1,000 1,000&c 1,000 500&c. 1,000 ORGANIZATION, LEASES, STOCKS AND BoNDs.-Chartered as the Chio & Miss., Feb. 27, 1847; reorganized under act of Jan. 21, 1857, as Chic. Alton St. & Louis, and under act of F eb. 16, 1861, the present corporation succeeded to the property, which was sold under foreclosure in the following year and transferred to new organization in October, 1862. Fiscal year ends December 31. The annual meetin#l is held the first Monday in April. The Joliet & Chicago is leased from January 1, 1864, for th t term of its charter, and forms part of the main line. Rental, 7 p. c. on stock. The Louisiana & Mjasouri River RR. is leased for 1,000 year!'. Rental, 35 p. c. or gross earnings, after taxee, &c., have been deducted from them, but interest guaranteed on second mortgage bonds and $329,100 pref. stock; the other pref. stock is $1,010,000 and common $2,272,700; r ental in 1888 $l52,374, against $200,716inl887. The Kan. C. St. L. & Chic. is leased to the Chic. & Alt. Co. in perpetuity from Nov. l,1877.ata,:entalof35perct.ofgross earnings-$335,83lin 1888. The bonds are held by TT R. Trust Company as security for the Chicago & Alton bonds of 1878 issued to build this road, and a sinking fund of $60,000 per annum pr~vided for ~heir redemptio~. Should the 35 per ,cent be more than anfflment to pay mte:rest, quar. ruvldends and 7 per ,oent on the common stock, the excess 11:1 to go to the lessees. 90!Ul!I0~ st~ck, $2'.71,7(!0. ot vvhi_cb $157,6(10 I i ownPd by C. & A. The Miss1ss1pp1 River Bridge is leased m perpetuity from December 3, 1877, at a rental equal to 7 per cent on $300,000 stock (all owned by C. & A.) and 6 per ,oent on b_onds. (See last drawing, V. 48, ~- 15~.) . T~e Chic. & Alton ~referred stock has prior r1~ht to a non-cumulat1vfl 41.vidend not exceeding 7 per ct. from net e~rnmgs, and (after p3:yment ,of 7 on common) also shares with oommo1;1 m any surplus. J:'rices of stock hav:e been as follows: .Preferred m 1881, 140@153; ~m 18~2, 130@46; m 18831 140W150; in 1834, 142'@152; in 1835, 147@155: m 1886, 150@162: m 188?, 155JH64; in 1888. 157Wl65; in 1889, 160@ 165; in 1890 to J a.n . 17, ~elusive, 160@160. Co!illllon m 1881, 127@15_6; ,i,n 1882, 127lg1l!145lg; m 1883, 128~13714; m 1884, ~1817>14014; m 1885, ~2817>140: Ip. 1886, 138@146; m 1887, _130 ~;I-55 ; m 1888, 132-W 140_½_; m 1889, 12011>].40; in 1890 _to .Tan. 17, mclus1ve, 133'<11_ 1?4, Dividends since 18, 6 have been. In 18-i:7, botn stocks, 712, m 1878, both 7; in 187_9, preferred 7, common 6; m 1880, pref. 7, com. 61g; in 1881 both 8; ~ 18~2 both 8; 1:n- 1883 both 8; in 1884, both 10; from l-885 to 1889, molus1ve, both 8; m 1.88_9 to date, both e. OPERATIONS AND FINANCES.-The Chicago & Alton road has been particularJ.;v strong in ha'Vlng_ a lar"'e local business between Chicago and Bt. Loma, so that it was less d'.ependent on thr.ough business, which is done at competitive rates. Its leased lines are as completely controlled as if own ed, and the syatem is compact. Operations, earnings, &c., have been as follows for four yea,rs past. Fiscal year ends Dec. 31. Annual report for 1888 was in v. 48, p. 2 4 9, and the President's remarks at len~th in v. 48, p. 238. INCOME ACCOUNT 18 8 5 1886 1887. l8 8 8. 1.leceipts$ • $ • $ $ .Net earninis . .•. .••. 3 380 322 3 409 684 3,671,183 2.843,180 ·Other receipts....... '212:845 '282:654 269,239 273,252 Total............. 3,653,167 3,692,338 3,940,422 3,116,632 l>isbursements$ $ $ $ R ta! 8 'd 704 473 701.777 710,608 665,455 ' en pai · ••· · · · • · • ~ , 702 254 , 134 657 444 531 , 542 380 g>fatnf, eluiJi·• &o. 831 ,031 836 , 381 825•, 658 8 :rn'•,307 , 'D. ~rdes don e ··•·· 1 409 , 6 4 1 407 , 224 1 ' 07 ' 44 1 407, 608 50 ivi en s .••• •••···· ' 93•854 92 •672 _106 924 102 :Miscellaneous······· ' __ _116 _ __ _ Total disbursem'ts. 3,428,086 3,301,632 3,699,399 3 537 187 ' ' •Balance ..•• ...•..••. sur. 225,081 sur.3!10,706 sur.241,023 df.420,555 -(V. 47, p. 140; V. 48, p. 249,258.688; v. 49, p. 100, 580.) Chlcao-o & A.tlantlc.-Opened May 14, 1883, from Marlon, o., on line of N:'°Y. Pa. & o., to Hammond, Ind., 249 miles, and thence over the Chicago & West. Ind. to Chicago, 19 miles .. Connectiniline tor N. Y. P . & O. a nd N. Y. L. E. & W. to Chicago. Bt oc • $ 9 , 562,· ·950,ofwhich$9,000,000wasdeposited with H.J . .Tewett(thenPresident of N. Y. L. E. & W.), in trust. On Nov. 1, 1884, the interest due on lat mort. bonds was defaulted, and in terest was afterward pa1d at 4151 p. o.. as per reorganization scheme, until May, 1889. when it w11s defa 11ted. The 2d mort. bonds were largely pledged for N. Y. L. E. & W. loans, and about $800,000 are held by the Elie and $2,500,000 in trust for Erie by Fa.1 mers' Loan & Trust c~., and balance ot $1,700,000 by other parties. In February, 1886, smt was brought by the Farmers' Loan & ·Trust co. to foreclose the mortga~es. A decree was entered in Jan., 1889, but some of the 2d mortgage bondholders appealed, and litigation is yet pending; v. T. Malott was appointed receiver May 18, 1889, and in August was authorized to borrow $250,030 on receiver'a certificates. An outline of proposed plan was in CHRONICLE, v. 44, p. 36~. by which the new issue of bonds was to be $12,000,000, bearin_g 4 per oent for 5 years, 5 per r ent thereafter, gold, guaranteed by N :r. L. E. & W., and $100,000 only of stock to be held by that company; there will also be $10,000,000 of 5 per cent non-cumulative income bond!". From Jan. 1 to Oct. 31, 18 ~9 (10 mos.), gross earnings were $1,687,793, against $1,876,489 in U-88; net, $380,818, against $388,121. In the year ending June 30, 1880, gross earnings were $2,181,949; net, $364,604; deflmt under interesr,, etc., $191,528.-(V. 46, p. 537,649; v. -47. p. 530, 63, 593; V. 48, p. 37, 127, 291, 63J, 688; V. 49, p.121, 206.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ----- - - -· $188,000 7 42,000 7 1,725,000 7 300,000 7 31g 329.100 2,331,000 6 g. Ilg 1,750,000 31g 300,000 632,000 6 {(. 6,500,000 (6 g.) 4 6 g. l:3ee remarks. 300,000 4 to 5 422,000 . 9,194,500 8,805,500 5 2,215,000 6 935,000 6 940,000 7 76,393,505 1 16,998,000 7 11,886,000 4&5 4 7,968,000 4,300,000 4 9,000,157 5 4 g; 291,000 6;:>3,000 7 547,500 7 350,000 5 25,18 5,000 4 1,076,000 8 890,500 8 720,000 8 --· J. & J. N. Y., John Paton & Co. .T. & J. do do F. &A. do do M.&N. do do F. & A. do do M.&N. do do Q.-F. do do . .T. & .T. Chic., Treasurer's Office A.. & o. N. Y. , John Paton & Co. M.&N. Last paid Nov., '88. F. &A. None paid. J. & .T. N. Y.,Drexel,M'rg'n &Co .... ............ July 1, 1898 July 1, 1898 Aug. 1, 1900 Nov. 1, 1900 Feb. l, 1890 May 1, 1903 F.eb . 1, 1890 Jan., 1890 Oct. 1, 1912 Nov. 1, 1920 A~. 1, 1923 .T y, 1918 . --· -. -. A_-&-·o. N. Y. ,F .L.& T.co:& Bost. A.priiT;"i926 J. & D . .T. & D. F. & A. Q.-¥. .T. & .T. A.. & o. F. & A.. M.& S . M.&N. J. & .T. A. &O. J. & ,T. J. & D. M.&N. J. & J. A. & 0. •T. & J. do do do do do do N. ·Y., Boston & Chio. N. Y.,Bk. of Com.&Boat. do do do <10 do do do do Frankfort, G ermany. N.Y., Bk.of Com.&Bost. do do Boston, Co.'s office. N.Y., Bk. of Com. &Bos N.Y. F.L.& T.Co.& Bost. Boston, Co 'i:1 Office. N.Y.,F.L.&T.Co.& Boet. June 1, Dec. 1, Feb. 1, D ec . 16, July 1, Oct. 1, Feb. 1, Sept. 1, May 1, July 1, Oct. 1, .Tau. 1, June 1, May 1, July 1, Oct. 1, July 1, 1918 1896 1903 1889 1903 1919 1922 1921 1913 1890 1890 1896 189:"I 1927 1900 1890 1890 ISt.Chicago Burlington & Northern.-Owns-rrom Oregon, Ill., to Paul, Minn., 332 miles: Fulton to Savanna, Ill., 17 m.; branches, 14 miles; total, 36B mu.es. The road was completed Aug., ')36, under Chicago B. & Q. auspices, as per circular of August 1, 1885 (in CHRONICLE, V. 41, p. 160). The Uhic. B. & Q. and Chic. & Iowa give a traffic guarantee for twenty yea1s of one-hall of their net earnings derived from business to and from the C. B. & N., to be not less than $100,000 per year, for the ret1r.'m ent of C. B. & N. firsts at 105; and after March 31, 1896. the whole issue may be reti1·ed at 105. The 21 mort. was issued to fund the flo ,:1,tin,!? dtbt and $2,250,000 was r eserved for the debentures, which could be exchanged for them till April 17, 1889. Bee circular, CHRONICLE , V. 47, p. 236; also V. 48. p. 3'.:6. From .Tau. 1 to Nov. 30 in 1889 (11 mos.) gross earn's were $1.821,8 12, agst. $1,842,920 in 1888; net, $700,790, agst. $364,819. In 1887 gross earningswere$2,276,· 199; DC't income, $480,L28; rental and interest, $646,501; deficit, $165,873. In 1888, gros~. $2,026,3l9; net, $-!45,960; detl.eit under interest. rentals, et-,., *329,738.-(V. 47, p. 2f>6; V. 48, -p. 326, 661; V. 49, p. 234.) uhicago Hurllngton & q,utncy.-LINE OF ROAD.-Th 3 c. B. & Q. is one of the most complex raill'oad systems in the U. s. It has a network of lines in Ill., Iowa and Neb. The main line extends from Ub.ic. Ill., to Burlington, Iowa, 204 miles, and thence to Pacific Junction, 276 miles, and from Pacific Junction to D enver. Col., 577 miles, making the distance from Chicago to Denver 1,057 miles. From Pacific ,Junction to Council Bluffs is 18 miles (track used jointly with K. C. St. Jo. & C. B.), making the C. B. & Q. line, Chicago to Council Bluffs, 498 miles. The E xtens. to Denver was opened May, 1882. B esides numerous local roa<ls the company also has its line in Illinois to East St. Louis and to Quincy, connecting with the Hannibal & St. Joseph road (purchased by c. B. & Q. in 1883) across :Missouri to Bt. Joseph. The mileage reported at the close of 1888 was 4,917, or which 160 miles were leased or operatea witn other companies. In addition to this the company controls and largely owns the St. Louis Keokuk & N. W. road, 181¼ miles; the Kansas City St. Joseph & Council Bluffs, 313 miles; the Chicago Burlington & Kansas City, 153 miles; the St. Joseph & Des Moines, 50 miles; and a half-interest with Wabash in the Humeston & Shenandoah, 113 miles. The allied road to St. Paul is t~e Chic. Bur. & Northern. In September, 1887, the Denver Utah & Pa.citic (narrow gauge), 4.3 miles, Denver to Lyons, col., was purchased. . . . . ORG~~ZA.T~ON, &c.-Tb~s wa~ a C(?nsolidation m .Tanua.ry, 1875,_ of the ChiOlli;!l Burlington & Qumcy m Illino_IS and the .B_urrmg_ton & Missouri River m Iowa. In l880 th~ Burlington ~ Missouri in Nebraska was absorbed. The l~ased l1~es are practically owned _and there ls no char~e for re~ta~s 1?- the mcome account, except ::i,s mter<;st on bonds. Tne ownership m the oth:er roads above-mentioned ism the stocks and bonds thereof, and theIT accounps are ke~t separate. In August, 1885, the agreement was ma.de with the ChIC. Bur. & No. for the line to St. Paul, but the C. B. & Q. owns $3,097,500 only of the stockofthatcompany. Fiscal year ends Dec.31. Annual election in April. The lan1s have been mostly solo, but 79,300 acres remaining, and laud notes are $1,215,84 • STOCKS AND BoNoa.-The stock has been rapidly increased for the acquisition of new lines, and in 1880 a distribution of 20 per cent in stock was made. Dividends have been: In 1877, 9 per cent; in 1878, 10¼; in 1879, 8; in 1880, 914. cash and 20 stock; rrom 1881 to 1887, inclusive, 8; in 1888, 5 per cent; in 1889, 4. The prices of stock have been: In 1881, 133¼-wl8212; in 1882, 1201211> 141; in 1883, 115~'@1293a; in 1884, 107@127!\I.: in 1885, 115¼·@13812; in 1886, 128!\l.@141: in 1887, 123 7s1i!l56; in 1888, 103!\l.11>130¼; in 1889, 89 7s ·@ 11112; in 18~0toJan. 17, inclusive, l05¼ll!l07 7s. The C. B. & Q. on many of its bra.neh lines gave a traffic guarantee ot 40 to 50 per cent, which was used in purchasing theiroonds. The Kansas City St. Joseph & Council Bluffs and branches was pur(lhased (254 miles), and the Chic. Burl. & Q. stock issued therefor at $125 per share, taking the St. Jo. stock at $72 50 per share. Enough of the C. B. & Q. consolidated mortgage is reserved to take up prior debts. The bonds of 1876 are securea by mortgage bonds of like amount on St. Louis Rock Island & Chicago road deposited with trustees. or the Iowa trust bonds of 1879, $8,988,000 are 4s and $2,898,000 58 , the 48 being subject to call at 100 and the 58 at 105 , the sinking fund being llg per cent of bonds issued, payable Oct. 1 yearly. The collateral trust Nebraska exten. b'ds of '87 (N. E Tr. Co., of Mass., trustee,) are issued at $ 2 0,000 perm. for sin,.,o"le track and $iO,OOO perm. additional for second track. See abstract of mortg. in v. 45, p. 441. Sum total of all sinking fundi:1 Dec. 31, 1888, excluding holdinga of bonds canceled, was $11,766,511. Many of the bonds are redeemable (may be drawn) before maturity at various p rices, plus accrued interest, as stated in the table above. The Bnr. & Mo. in Nebraska 6s, due 1918, are redeemable at 100, l>ut this for the" exempt" bonds applies only after 190,j. OPERATIONS AND FINANCEs.-The Chic. Burl. & Qmncy RR. has been one of the most profitable in the country, as its uwnerous branches tributary to the main line were built into choice agricultural territory, where they enjoyed a. monopoly of the local business at full rates. From J an . 1 to Nov. 30 in 1889 (11 mos.) gross earnings were $24,296,220, against $21,621,494 in 1883; net, $9,::i 28,465, a.gamst $5,362,369, On !mes controlled gross earnings for same p ariod were $6,571,620, against $5 ,347,223; net, $2.070,·261, against $1,210,744. The annual report for 1888 was published m the CHRONICLE, V. 48 (P, 397 anci 399.1 Oomparative statistics for tour .jyears are as !ollowF JANUARY, 37 RAILROAD STOCKS AND BONDS. ff{JO.] Subscribers will conf'er a great Cavor by giving Immediate notice oC any error d.18covered. In these Tables. Bonds-Prine;. IN'.rEREST OR D:(_VIDENDS. DESCRIPTION. Size, or pal,When Due. Amount Par Outstanding Rate per When Where P-Wiable, and by Stocks-Last For explanation of column headings, &c., see notes of of Road. Bonds Value. Cent. Payable on first page of tables. hom. Dividend. Mllt•t.e Chicago Burlington cf Quincy-(OontinuedJ8. lund b'ds, not dr'n (St. L. R. I. & C. M. collat.).c.. 270 1876 46 1876 Quincy Alton & St. L. (leased), let mortfa&e ... c* Burl.&Mo.Riv., 1st mort. (cum. s. f., no r'n\ c* 281 1863 do 1st M. oonv. bonds . .•...••.....••..••... o* 40 '69-'70 Burl. & Mo.RR. in Neb. cons.M.l. gr. ,s.f. dr'n at 100 628 1878 Omaha &8.W.,lst M.,guar ..•...•...•..••....... o• 49 1871 Burl.& Mo.RR.in Neb., s. f. for At. & Neb.RR.stock 1880 Nebraska Railwayoonsol. mort., guar .••.....•. o* i33 1877 Repub. Val, R. lstM. g.(dr. at 100) s. f., $14.,000.o 148 1879 Atchison & Nebraska. 1st mortgage guar . .•.••. c* 146 1878 2dM.. on A.. & N. RR. andbridgeatNebras. City 146 1887 Lincoln&N. W.RR. lstM. guar.s. f. lp.o.. notdr, 73 1880 K.C.St ..lo. & C. Bl.,consol.M.(Nos.1 to oOO pref.)c 274 1877 1st Ms.Nod.and TarkVal. RRs. s,f.(dr.atlOO).c* 62 - 1880 Humeston & Shenand. RR 1st M.,$20,000 p. m .. 1881 Chicago cf: OalumetTer.-1stM., g. ($3,000,000) .c* "¥i 1838 Ohic. cf: East.nl.-Stock ($4,465,200is 6% pref.) .• .. 503 1st M., (S. f. $20,000 after '85, no drawings) ... o* 107 1877 Consol. mort., fold (for $6,000,000) s. f ...•••.•. c* 208 1884 Collateral trus bonds, sinking fund ....•...•... c• 1887 C. & ];. Ill. Extension. 1st mortgage ... .....•. . . o•· 15 1881 -General con.sol. moriage. _....•............... o&r 277 1887 Dan. & Grape Creek R.- lst mortgage. __ ..... c• 7 1880 Strawn & Tnd. State Line bonds, assumed, s. f .c* 13 1881 Chic.& Indiana Coal-lstM.($25,000 per mile).c* 172 1886 ·Ohic. cf: Gt·. Trunk-lstJM.$&£ ($567,5 OOres'd)ck&r 327 1880 2d mortgag~, $ & £ . __ .. _.... _.. __ ..••... _...• . . c&r 327 1882 Northwest. Grand Trunk, lstmort . ........... . 66 1880 O'!ti:;. & Gt. Western-lat mort., gold, int. guar .... o* 10 1886 2d mort., for $4,000,000, gold, int. guar ........ o" 10 - 1886 Ohicago Milwaukee <t St. Paul-Com. stock .. __ .... 5,678 ...... Preferred st'ck (7 p. c. y'rly, not cum.ulat!v 1) •••••• 5,678 .... 0 --- --- $1,000 $2,316,000 5 A. & O. N.Y.. Blr.ofOom. &Bost. 1,000 840,000 5 F. & A. N.Y.;F.L.& T.Co.&Bost. 50&c. 4,170,550 7 A. & 0. N.Y.,F.L.& T.Co.&Bost. 500 &o. 66,000 8 J. & J. Boston, Co.'s Office. 600 &o. 12,858,600 6 J. & J. Boston, Bk. of Com'rce. 1,000 669,000 8 J. & D. Boston, Co.'s Office. 1,000 3,347,000 4. J . & J. Boston, Bk. of Com'rce 1,000 385,000 7 A. & 0. BoEton, Co.'s Office. 600&0. 1,078,800 6 J . & J. Bo,iton, Bk. of Com'rce. do lOO&o. 1,125,000 7 do 1\{. & s. 901,280 6 Boston J. & D. . 600,000 7 Boston, Co.'s Office. J. & J. lOO&c. 5,000,000 7 J. & J. Boston, 2d ~at. Bank. 1,000 629,000 7 do do J. & !>. 1,000 1,342,000 Boston, Co.'s Office. 7 1,080,()00 5 g. J. -&D. N. Y. Central Trust Co. 1,000 100 10,663,000 llsonpf. Q.-M. N.Y. ,HanoverNa.t. Bk. 100 &o. 3,000,000 6 J. & D. N.Y.,4thNat.Bk.&Bost. 1,000 6 g. A. & 0. N. Y., Central Trust Co. 2,714,000 1,000 61,000 do do F. & .A. 1,000 103,000 J. & D. New York. 4th Nat. Bk. l,OOO&o 3,679,000 5 M.&N. N. Y., Cent. Trust Co. 1,000 119,000 6 M.&N. Boston, Globe Nat. Bk. 1,000 150,000 6 J. & J. N. Y .. Central Trust Co. 1,000 4,402,000 5 J. & J. N. Y., Met. Trust Co. £100&0 6,000,000 6 g. J. & J . New York and London. 1,000 6,000,000 do do 5 J. & J. 500 &c. 567,500 6 J. & J. N.Y., E.P.Beach,B'way. 1,000 4,000,000 5 g. J. &D. N.Y., Office, 36 Wall St 1,000 4,000,000 5 g. J. &D. do do 100 39,868,961 219 A. & 0 . N. Y., Office 42 Wall St. 100 21,610,900 do do 21!! A. & 0. --· P· Oct. 1. 1901 Feb. 1, 1896 Oct. 1, 1893 July- 1, 1894 July 1, 1918 June 1, 1896 Jan. 1, 1910 Oct. 1, 1896 July 1, 1919 Mar. 1, 1908 D .' O. 1, 1927 Jan. 1, 1910 Jan. 1, 1907 June 1,1920 Mar. 31, 1911 1938 Dec. 2, 1889 Dec. 1, 1907 Oct. 1, 1934 Feb. 1, 1912 Dec. 1, 1931 Nov. 1, 1937 May 1 , 1920 Oct. 1, 1921 Jan. 1, 1936 Jan. 1, 1900 Jan., 1922 Jan. 1, 1910 June 1, 1936 June 1, 1936 A.pril 23, 1888 Oct. 21, 1889 1888. l Chicago & Grand Trunk .-Line of road from Port Huron, Mich., 4,757 to Elsdon, 327 miles; also uses 4 miles of Chicago & West. Cndiana. 160 and 4 miles Grand Trunk Junction RR.; total operated, 335 miles. This is a consolidation of roads between Port Huron and Chicago formed in Total operated ... 3,6i7 4,036 4,693 4,917 Jan., 1880, under the control of the Grand Trunk of Canada.. Stock, $6,600,000 in $100 shares. The Grand Trunk of Canada gives a tratlio OPERATIONS AND FISCAL RESULTS. guarantee of 30 per cent of gross earnings. Gross earninJ?s from Jan. Operations1885. 1886. 1887. 1888. 1 to Nov. 30, iu1889 (11 months) w ere £ '3 73,362, a~ainst £ 196,376 in Passengers carried .. 5,134,312 5,213,595 5,750,348 5,968,148 1883: n et, £166,254, agst. £11 !\~65. In '88, gross reoeipts, $3,228,338: Tons carried._ .. _. __ 8,431,808 8,534,708 &,752,325 9,056,665 net, $815,892; s rp. over charges, $12,181, against $34,077 in 1887. Ea,-nings$ $ $ $ -(V. 44, p. 400; V. 45, p. 52.) Passenger ..••. _••... 5,286,407 5,633,261 6,629,859 6,146,121 Chicago & Great Western.-Owns a double-track roa1. entering Freight ..•• ••. _•.... 19,565,854 19,367,935 18,675,655 15,484,035 Mail, ex:press,&o. _.• 1,704,11->4 1,727,212 2,270,564 2,159,011 Chicago from the west, and terminating at Polk st., east of the Chica.~o River, witll large terminal property. The interest on lat mort. bonds 1s Total gross earnings 26,556,425 26,':'28,408 27,576,0i8 23,789,167 guaranteed by the Wiscons1n Central and its allied lines, which enter Oper. e xp. & taxes.. 14,405,76~ 14,491,683 lo,097,913 18,882,460 Chicago over this road. Terminals are under construction. Stock, $8,000,000; par $10'.>. Chicago lUllwaukee & St. Paul.-(See Map.)-LINE OF ROAD.Net earnings........ 12,150,657 12,236,725 11,478,165 4,906,707 l'he company operates a great consolidated system of railroads in Illinois P.C. of op.ex. to earn 54·25 54·22 58·38 79 ·37 Wisconsin, Minnesota, Iowa and Dakota, which are well shown on the ~otincluding those carried on mileage or aeas0n tickets. a-0companyin~ map. The main through lines are from Chica~o to Mil• waukee, 85 ruiles; Milwaukee to St. Paul and Mmneapolis, via La Crosse, INCOME ACCOUNT. 341 miles; Milwaukee to P rairie du Chien, 194 miles; McGregor (oppo1885. 1886. 1897. 1888. site Prairie du Chien) to Chamberlain, Dak., on the Missouri River, 442 Receipts$ $ $ $ miles; via Savanna, on the Mississippi River, to Council Buffs, Net earnings .••..••• 12,150,657 12,236,725 11,478,165 4,906,707 Ia., 487Chicago, miles; Marion, Ia. (ne '1r Cedar Rapid,) to Kan.Aas City, 30!', Interest and exch .. 592,432 615,342 859,055 169,601 miles; Minneapolis to Aberdeen, Dair., 288 miles. On Dec. 31, 1888, Net B. & M. I'd gr't.. 985,796 846,771 567,083 408,555 the mileage in lliinois was 318; in Wisconsin, 1,3 LO; in Iowa, 1,575; Tota.I income .••.•• 13,728,885 13,698,838 12,904,303 5,484,863 ln Minnesota, 1,120; in Missouri, 14'l; in Dakota, 1,215. Total miles operated, 5,678. On Novem'>er 1, 1887, the line to Kansas City was 1885. 18Q6. 1887. 1838. opened. Disbursements$ $ $ $ ORGANIZATION, &c.-The Milw. & St. Paul RR. Co. was organized May Rentals paid........ 187,171 153,215 198,168 193,709 Interest on debt ... __ 4,294, 263 4,391,004 4,587,762 5,111,527 5, 1863, and embraced a numl:>er of other companies, including the Mil• Dividends ........... 6,110,572 6,110,722 6,111,064 3,819,!578 waukee& Mir:, ., the Prairie du Chien, the Lacrosse & Milwaukee, and othel's. The Milwaukee & St. Paul afterward purchased the St. Paul & Rate of dividends... 8 8 8 5 Carried to sink'g f'd. 646,430 670,2.9 5 500,154 691,474 Chicago Road and others, and built the line from Milwaukee to Chicago, and on February 11, 1874, the company took its preAent name. The -Carried to renew'lf'd 1,000,000 1,000,000 year now ends June 30. The annual meeting is held in September Total disbursements 12,238,4.36 12,825,236 1 L,397,148 9,816,288 fiscal STOCKS AND BONDS.-The preferred stock has a prior right over the Balance, surplus.... 1,4a0,449 1,373,602 1,507,155 df.4,331,425 common stock to a dividend of not over 7 p. c. :f rom net earnino-s in -(V. 46, p. 133,241, 254. 255, 4'18, 481, 802; V. 47, p. 381,775; V. each year, but If not earned it has no cumulative right. If a divid'end was earned in any ;v:ear and not paid, there might be a claim on future 48, p. 201,291, 39'1, 399-, 661,729,800,827,855; v. 49, p 824.) for such dividend. After payment of 7 on pref. and 7 on com., Chicago & Calu1net Terminal.-From East Chicago around years both cla~ses share pro rata. the City of Chicago, m13etin~ the Lake in the vicinity of Evanston; Dividends since 1873 have been: On common in 1879, 219 p. c.; from -56 miles wh n finishe-i, and croeslng 26 railroad lines; 42 1880 to 1884, incl., 7; in 1885, 4; in 1886 and 1887, 5; in 1888, 2¼ : miles completed. Central Trust Co., Trustee of mort. Bonds are in 1889, nil. On preferred, m 1874, 7 in con.sol. bonds; in 1875 nil; issued at rate of $35,000 per mil6 single and$50,ooo:p.m. double track-- in 1876, 319 a.nd 14 per cent in bonds; in 1877, 319; in 1878, 10¼; and a sufficient amount t.o meet mterest for two years has been de- from 1879 t ocaAh 1887inolusive, 7; in 1888, 6; in 1889, 4¼. posited with the"Central Trust Co. Company owns right of way-100 ft. The range in prices ot stocks since 1877 have been: Pref. in 1878, 64'ib wide. Stock $5,000,000. C. B. Van Nostrand,Treas., 42 Wall St., N. Y. 84~; in 1879, 7438@102~: in 1880, 99@12418; in 1881, 116¾@140; in Chicago & Eastern Illlnols.-Owns from Dolton, Ill., to Dan 1882, 11419@14414; in 1883, 115@12214; in 1884, 9575'@119; in 1885, ville, Ill., 10712 miles; s econd main track Dolton to Momence, 33 miles· 102'@125; in 1886,ll6@125llt; in1887,110@127'4: in 1888,9819'2Hl7; D~ville to ':[uscola, 50 miles; Mom!noe to ~diana State line (junction; in 1889, 97@1l8: in 1890 to Jan. 17, inclusive, 11318'@115. Common-with the Chic. & lnd. Coal), 11 m.ilel'; WeJlmgton Junction to Cissna In 1878, 2719@54:>s; in 1879, 343sa8218: in 1880, 6612@114¾: in 1881, Park, 11 miles . . Leases Evansville Terre Haute & C. RR., Danville, Ill., 101¼@12914; in 1882, 9619@12814; in 1883, 91~@10819; in 1884, to Otter 9reekJuno., Ind., 4.9 miles; Otter Creek June. to Terre Haute, 5814@9414; in 1885, 64%'<1>9:,; in 1886, 82~@99: in 1887, 69~'@95; in Ind., 6 miles; Ot er Creek Juno. to Brazil, Ind., 13 miles; Dolton to 1888, 5914@78; in 1889, 60 7s@7514; in 1890 to J an. 17, inclusive, Chicago (uses track C. & W. I.), 17 miles. 68@71. Chicago & Jn~ana Coal owns Brazil to La Crosse, Ind., 145 miles, An abstraot of the terms or some of the principal mortgages was pubbranches, 26 miles; and leases: La Crosse to New Bu.1l'alo, 35 miles (of lished in the CHRONICLE, v. 45, pp. 85, 114, 144, 212; and v. 48, p. 830 -Chicago & West Michigan RR.) Of the consolidated mortgage bonds of 1875, enough were reserved to Total operated, 503 miles. take up the prior bonds; these bonds may be stamped and discharged The Chicago & East Illinois was chartered as Chicago Danville & from the sinking fund provisie,ns. The St. Paul & Chicago, the Chicago Vincennes in 1865, and opened in 1872 and 1873. St>ld under foreclos- & Milwaukee, the Consolidated, the Laorosse Div., the Iowa & Dakota, ure Feb. 7, 1877, and reorganized under existing title Sept. 1, 1877. the Iowa & Dakota Ex:tension, the Prairie du Chien 2ds Under tlle terms ofleases the C. & E. Ill. guarantees interest on $1,400,- and the Iowa. & Minn. Div. bonds are convertible into preferred ·000 bonds of leased roads. There are also $64,000 2d mort. h1comes, stock. The terminal bonds issued in 1884 are secured by mortgage on due 1907, outstanding. Owns control of Ev. T. H. & o. RR. the terminal property in Chioago and Mil wa.ukee, subjeot- to the lien In February, 1889, stockholders of the Chicago & Indiana Coal RR. of the general mortgage on part of the traok and terminals; but it covers ·w ere granted an exchange of eommon and preferrr d stock r espectively also other property quite detached. The Income bonds of 1886 a.re con• .at par for 1h~ir $2,197,800 common and $1,465,200 preferred stock vertible into common stock, on notice, 60 days after any dividend d ay. thus consolidating the pronerties. See CHRONICLE, v. 46, p. 134· v'. They have a sinking fund of 4 per cent, and may be drawn a.t 105. In -48, p. 334, for complete status as given in the applications to the addition to abuve bonds there are $89,000 Hastings & Dak. 7s, due Stock Exchange. Jan., 1903, convert. into pref. stock; also $275,000 5 ver cent real estate The general consolidated mortgage of 1887 (Trustee, Central Trust mortgage13 due in 1890 and 1894. Co.) providee for the retirement of $8,000,000 prio r bonds and for il'sue The incomes of l ':! 86 are secured by mortgage on road from Chioago -of bonds _on new road B;t $18,000 per mile for single traek, $7,000 per to Kansas City, about 530 miles. mile _additional for equipment and $8,000 per mile for double track. The general gold mortgage of 1889 for $150,000,000 was fully deChicago_& Indi_ana Coal 1st Mort of 1886 (trustees Met. Tr. Co. and scribed in the CHRONrCLE, V. 48, p , 930. The bonds bear inte rest not R. B. F. Pierce) _1s fo:r:$1,000,00(?, on road_from Yeddo to Brazil,ar d exceedmg 5 per cent Tlle U.S. l'rust Oo. of New York is trustee. $25,000 per. mile ($,,000 of this for eqmp.) for extensions; second OPERATIONS, FINANCES, &c.-The mlleage and also the stock and debt t.raek, $8,000 per mile. of this company in.er.eased very rapidly after 1879, the miles owned Dividepds since 1~81 have been: On common, in 1882, 3 per cent; in being only 2,359 on January 1, 1880, and the stock and bonded debt, in 1886, 5; m 1887, 6: m 1 888 on new pref. alone, 7¼; in 1889, 6 on pref. round fi"'ures, $69,000,000 on same date. From July 1 _to Dec. 31, 1888 (6 months), gro, s earn.fags, mcludiog From July 1 to Nov. 3 0, 1889 (5 mos.) gro~s ea.rn'g-s were $12,(29,501, Chicago & Indiana Coal, were $1,495,080; net $642,553 ; surplus over against $12,039,159 in 1888; n et, $4,878,921, against $4,501,359. fixed charizes, $18'?',503; balance over 3 per cent dividend on pref. To conform with the fl.seal year of the Government and several of the stock, both compames, $53,547. Western Statee, the fiscal year of this company was changed in 1889 t1. H. H. Porter, Prei,ident., Chicago. (V. 48, p. 100 189, 222, 334; t erminate with June 30. '. fhe annuall reuort for year ;ending June 3o . f'. 4 9, '(). 680, 760, 789. ) 1 889 was in V. 49, p. 577,581. t ,,,,, :;.;:;.;~. _. ..:::;i _ __;;;_ ••_,,~ ""· - "" Miles owned & leas'd Miles operat'djointiy https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1885. 3,534 113 1886. 3,914 1.22 1887. 4,571 122 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J~NUARY, 39 RAILROAD STOCKS AND BONDS. 1E9(),] Sub11crlbe.r8 will confer a great Cavor by giving Immediate notice of' any error discovered In these Tables. - - - - - - - -DESCRIPTION. - - - - - - - - - - - - - 1 Miles !For explanation of column headings, &o., see notes on first page of tables. INTEREST OR DIVIDENDS. .Honas-.PrmolDate Size, or Amount - - - - - - - - - - - - - - - - - pal,When Due. of of par Outstanding Rate per When Where Payable and by Slopkll-Lal,t Road. Bonds. Value. Cent. Pay'ble Whom. Dividend. - - - ----1-----·1---- - - - - - - - · - - - - - - 1 -- - - - - - Chicago Wilwaukle ti: St. Pattl-lOontinued)- ConsoLM.(for f35,000,000) conv. into pref. st·k.c" 1,435 1875 $1,000 $11,486,000 1st 1\1. (Lacrosse Div.), convert. into pref. st'k.c* 370 1863 1,000 5,209,000 lEft mort. (Ia. & M.) convert into pref. stock ..•. c* 230 1867 1,000 3,198,000 I.st mortgage (Minnesota Central) ..• •.....•...•. c* 49 1864 1,000 123,000 1st M. (Iowa & Dakota), conv. into pref. stock.c* 126 1869 1,000 541,000 1st M.,I.&D.Ext. ($15,000 p.m. )conv. into pf.st'kc* 234 1878 1,000 3,505,000 ht 111. (Prairie du Chien) ..••..•...•..••...•..... c* 195 1868 1,000 3,674,000 '2d M. (Prairie du Chien), conv. tnto pref. st'k.c* 195 1868 1,000 1,241,000 1,000 Milwaukee & Western .•..••..•.•.....•...•..... c* ..•. 1861 215.000 Bt.P.&C. lstM.(Riv.D.)$&.£(conv.into pr.stock).o• 130 1872 500&c. 3,804~500 1,000 1st M., Chic. & Mil. (conv. into pref. stock) ....•. c* 85 1873 2,393,000 1,000 lat mort on Lacrosse & Dav. Div ....•....••..••. o* 185 1879 2,500,000 let mort. on B. W. Div. Western Union RR ..... . o• 212 1879 1,000 4,000,000 let mort. on Chic.& Pac. Div.,Chic. to Miss. Riv.c* 120 1880 1,000 3,000,0001st mort. on Bo. Minnesota Div. ($9,000,000) _.. o~· 419 1880 1,000 7,432,000 1st M.onHast.& Dak.mv.extens.($15,000 p.m.)c~ 395 1880·6 1,000 6,670,000 1,000 let M. on Ch.Cl.D.& M.lDub.Div), s. f.,not dr'n .o" 372 1880 6,56Zi,000 2,441,000 1st M. on Wis. Val.RR., e.f., 1 p.c., not dr'n .••. o"' 161 1880 1,000 Prior mort. do ..•.....•..••. o• 107 1879 500 1,106,500 2,840,000 lat mortgage, Mineral Point Division ..••....... c* 142 1880 1,000 1,000 ll.et mortgage Chic. & Lake Superior Div., gold, ·o* 68 1881 1,360,000 1,000 4,755,000 letM.Wis. & Minn. Div. ($2<!t000 _p. m.),gold .••. 230 1881 1st M., g .. on Chio. & Pac., W. .uiv., $20,090 _p. m .. c~ 1,267 1881 1,000 25,340,000 1,000 Chic. & ~o.Rlv.Div.,lstmortg., ($20,000 p. m.).o* 154 1886 3,083,000 6,000,000 Gen. mort., gold (for $150,000,000) Series A.o*&r 1889 l000&c. 1,000 2,000,000 lne. mort, convert.,s.f.,4 p.c arter '88 (dr.at 105) . 530 1886 1884 1,000 4,773,000 Terminals mortirage, gold ..•...••••. •••·••••···· .o* • • • • 1,000 1,250,000 Fargo & Southern, 1st mortgage, gold, assumed .. 1 1 9 1883 200,000 do incomes.......................... .. •. 1885 2,856,000 Dakota & Gt. South'n, 1 st, gold ($18,000 perm.). 159 1886 1:000 100 31,367,450 Chicago cf Northwestern-Common stock ..•...•... 4,250 ..... 100 22,323,170 Preferred st'ck (7 p. o. y'rly, not cumulative) ...... 4,250 ---- OPERATIONS. Miles of main track operated June 30 ... 1888·9. 5,678 18'-7·8. 5,'372 Operation a - Pc1,ssengers carrled................. .•...• 6,730,065 Passenger , carried one mile ............. 24!,302,662 Rate per passenger per mile . . . . . ••. • ••• 2·445 cts. F , eight (tons) carried_....... ........... 7,675 .934. Freight (tons) carried one mile ...... .... 1,660,089,864 Rate p er ton per mile.................... 1 ·020 eta. EARNINGS A.ND EXPENSES. Earnings from1887-8. Passenger 3 _. . . . . . . . . . . . . ... • . . • •••••••••• $ i ,973,449 Frt·ight...... .... ... ..... .... ••• . ••. . . . . . . 16,933,042 Mail, express, &o . . •. .... . ... . .. . . .. . . .. . 1,820,251 7,88 8,332 258,0 07,706 2·418 cts. 7,769,875 1,620,923,961 1·059 eta, $2!,726,742 $25,422, 1559 $2,711,306 2,579,498 10,217,26 ~ 808,313 157,937 $3,121,941 2,"i02,U8 1:),943,493 803,517 177,415 Total earnings ..... . ••..••......•••.. Expenses f 0 1·Malntenance or way .................... . Maintenance 01' car;; and engines .....•. Transportation ............... ......... .. . Taxes·-·•• ···· · ..·· .. ••· ....... . ..... ..... . .Miscellaneou L ... . ...................... . 1888-9. $6,241,(191 17,163,721 2,017,747 ---- --- - Total exp enses .. .... ........... ..... . $16.4 74,316 $3,252,426 Net earnings ........ .................... . 66·63 Per ct. of operating expen see to earnings INCOME ACCOUNT, Receipt.~l 887·8. Net earnings.... ......................... $3,252,426 Other income . ........... .•••.•••. ... . ••• 273,064 $16,548, ~84 $8,874,175 65·09 $8,525,490 $9,099,953 Total net income . .................. . 1888-9. $8,!=l74,175 225,778 Di,sb,1,rsernentsilutereat on debt . . . . ... •• . . . . ... . .... . ... $6,573,599 Dividends 3,460,920 Rate of dividends ....................... 7 on pf.; 5 on com. Total disbarsements ................. $l0,03i,"il9 Balance*................................. def.$1,509,029 $7,054,471 972,490 4111 on pref. $8/126,961 sur.!$1,072,992 * The amount at credit of income June 30, 1838, was $699,818; add .:$1,072,982=$ l ,772,~00; charged off in 1888·9 (old accounts) $234,126, leaving b::ilance June 30, 1889, $1,538,682. · -(V. 47, p. 271,285,326,353,368,708; V. 48, p. 368, 524,: 763, 827, ,830; v. 49, p, 269. 341, 403, 577, 581, 599.) Chicago & North-western.-(See .lfap.)-LINE OF ROAD-The <Chicago & Northwes tern operates 4,250 miles of its own roads and con• "trols Chic. St. P. M. & Om., 1,39-1 m.; Fremont Elk. & Mo. Valley, 1,106 m.; Wy omi ug- Central, 130 m., and Sioux City & Pacific, 107 m.; total -controlled, 6,987 miles. The mileage is extensive, and is shown clearly in the accompanying map. The mam line from Chicago to East Omaha, Iowa, is 492 miles, and this forms practically the southern boundary of -the whole system. On May 31, 1889, the Chicago & Northw. (proper) mileage was made up in the annual report as follows : Wisconsin Divi· :sion, 549 miles; Galena Division, 406 miles; Iowa Division, ens miles; Northern Iowa Division, 546 miles; Madison Division, 509 miles; Penin<Sula Division, 449 miles; Winona & St. Peter Division, 448 miles; Dakota Division, 724 miles; total, 4,250 miles. The Sioux City & Paci.fie .and Fremont Elkhorn & Missouri Valley (including Wyoming CentralJ .are operated separately (1,34'1 miles) and their earnings not included in ;those of Chic. & Northwest., but separately stated in the annual renorts ,in the CHRONICLE on p. 169 of v. 47 and p. 144 of v. 49. ORGA.NIZATION, &c.-The Chicago & Northwestern Railway was or• ,ganized in 1859. The company has since absorbed by consolidation a .large number of other roads. In December, 1882., a controlling interest wa,s acquired in the stock of -the Chic. St. Paul Minneapolis & Omaha Co. by the purchase of 53,800 ,shares of preferred and 93,200 shares of com. stock. In July, 1884, the leased lines in Iowa (Blair roads) were acquired on.the t erms stated in the SUPPLEMENT of June, 1885, and prior issues. In October , 1889, a traffic agreement was made wi'th U n.ion Pacific ::for close opera tion together on through b u sinesl!!. See V. 49, p. 5 25. The fiscal y ear ends May 31. The annual m eeting is h eld early in June. STOCK A.ND BONDS.-Of the common stock, $10,007,!'i20 w a s held in the company's treasury on May 31. 1889. m aking the w hole common ·-stock $41,374,866. Preferred stock h as prior righ t t o 7 p er cent; then common 7 -per cent ; then preferred 3 p er cent; then common 3; then both classes share. Dividends since 1873 have been: On commonin 1878 a nd l 879, 5 per cent; in 1880 a nd 18 31 , 6; from 1882 to 1884. ·inclusive, 7; in 18 85, 1i12; from 188 6 to 188\l, i nclu1,i ve, 6. OnpreferredIn 1876, 212 per cent; in 1877, 312; from 1 87 8 t o 1881 i □ cl. , 7; i , 1882, 34; in 18'!3 and 1884, 8; in 1885, 7½3; from 18 56 to d a te, a t rate of 7 -per cent y early. Prices of stock since 1877 have been as follows : Common in 1878, ~2½!@5514; in 1879, 495sw94¼; in 1880, 8718@130; in 1881, 117@136; https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7 7 7 7 7 7 8 7·3 7 7 g. 7 5 6 6 6 7 &5 6 6 7 5 5 g. 5 g. ~ g. 4 g. 5 5 g. 6 g. 6 5 g. 3 1~ J. & J. N. Y., Office, 4.2 Wall. July 1, 1905 J. & J. do do Jan., 1893 J. & J. do do July, 1897 J. & J. do July, 1894 do J. & J. do do July, 1899 J. & J. do do July 1, 1908 F. &A. do Feb., 1898 do F. &A. do Feb., 1898 do J. & J. do do July, 1891 J. & J. London and New York. Jan., 1902 J. & J. N. Y., Office, 42 Wall. Jan. 1, 1903 J. & J. do do July 1, 1919 J. & J. do do July 1, 1909 J. & J. do do Jan. 1, 1910 J. & J. do do Jan. 1, 1910 J. & J. do do Jan. 1, 1910 J. & J. do do July 1, 1920 J. & J. do do July 1, 1920 J. & J. Boston. Jan. 1, 1909 J. & J. N. Y., Office, 42 Wall. July 1, 1910 J. & J. do do July 1, 1921 J. & J. do July 1, 1921 do J. & J. do do Jan. 1, 1921 J. & J. do do July 1, 1926 J. & J. do do May: 1, 1989 J. & J. do Jan.' 1, 1916 do J. & J. do do July 1, 1914 J. & J. do Jan. 1, 1924 do A. &O. do do April, 1895 J. & J. do do Jan. 1, 1916 J. & D. N.Y.Co.'e Office, 52 Wall Dec. 23, 1889 'Dec. 23, 1889 Q.-M. do do In 1882, 124@15034: in 1883.115 1411>14018; in 1884, 81¼1H24; in 18851 8438@115~; in 1886, 1041411>1205s; in 1887, 10414@1275s; in 1888 1020s'@ll6; in 1889, 1021ilcH147s; in 1890 to Jan. 17 inclusive,1095s@ 11138. Preferred in 1878, 5934@7912; in 1879, 767e@108; in 1880, 104'<lll4612; in 1881, 13118@14712; in 1882, 136@175; in 1883, 134@ 157; in 1884, 117'itl4912: in 1885, 119:\i'@l397e; in 1886, 135'i.H44; in 1887, 138@14512; in 1888, 13t314'1iil46; in 1889, 135'@14412; in 1890, to Jan. 17, inclusive, 14012·@14314. The sinkmg tund bonds of 1879 are secured by a deposit of mort. bonds. on the new roads acquired at the rate of $15,000 per mile, and the terms under which these are issued were published ln V. 29, p. 277. $6,305,000 of them a ~e 6s, and the sinking fund is at least 1 per cent of outstanding bonds, the bonds being drawn at 105. There are several small issues of bonds in addition to tnose in the table above, viz.: Min• n esota Valley RR., $150,000. 7s (A. & 0.), due Oct. 1, 1908; Plainview, $100,000, 7s (M. & S.), due Sept. 1, 1908; Peninsula Railroad (Mich.), $152,000, 7s (M. & S.;, due Sept 1, 1898; Chicago Iowa & Nebraska, $129,000, 1st mort. 7s (F. & A.), due Aug. 15, 1892; also -$1,417,500 live b onds in the sinking funds, May 31, 1889. The $10,000,000 debenture bonds were issued to pay for the Chicago St. Paul Minneapolis & Omaha stock; the sinking fund for these bond.a is $i00,000 per year from May, 1888, if they can be redeemed at 105. In June, 1884, $6,000,000 5 per cent debenture bonds were authorized, and any fut ure mortgage on the property of the company owned at date of these bonds. shall mclude them. The C. & N. W. exten. bonds of 1886 are direct bonds of the C. & N. W. Company, secured by the deposit in trust of the 1st mort. bonds of roads constructed or acquired, at a rate not exceeding $20,000 per mile. The mortgage is for $20,000,000, and the Union Trust Company of New York is trustee. The Fremont Elkhorn & Missouri Valley bonds have a first lien on 1,106 miles (Fremont, Neb., to Whitewood, D. T., 547 miles, and branches to Hastings, Albion, &o., 559 miles), but besides the amount of issue ~iven as outstanding in the ta 1lle $8,975,000 are held as collateral for C. & N. W. extension bJnds of 1886. LAND GRA.NT.-The lands of the company have been acquired by the purchase of the Winona & St. Peter and other roads that have been consolidated. The Commissioners' report for 1888-89 showed that the total consideration for the lands and lots sold in that year amounted to $441,569. Net cash receipts were $537,273. The statement of a.mounts secured to be paid to the company by outstanding contracts of sale tn force at the end of the fiscal year showed a total of $1,147,644. The lands yet U!lSO~d and unoontrd.cted for on May 31, 1889, were 954,951 acres. OPERATIONS, FINANCES, &c.-The Chicago & Northwestern Railway ~t! ~t<i·~~egatJ1!Et°1{i%;:~~!he~~!a;!t~fttltih~::J!1 ~}enJ!t :~~i for stocks of proprietary roads, and a large nominal surplus had been rolled up, amounting to about $32,000,000 in May, 1886, of whloh over $21,000,000 was charged o1f in 1887. (See explanation V. 45, p 160.) Fiscal year ends .M ay 31. The President's report in full for 1888·89 was published in the CHRONICLE, 49, p. 174. The following sta• tistics are for the Chicago & Northwestern proper; the statistics of the Trans•Missouri lines are given in CHRONICLE, V. 49, p. 144 : ROAD ANO EQUIP111ENT. v. 1885·86. 1886-87. 1887•88. 1888-89 3,948 4,211 4,101 4,250 698 735 766 786 485 507 509 546 21,059 22,6!9 24,262 25,746 OPERATIONS A.ND FISCAL RESULTS . Operations1885-86. 1886•87. 1887-88. 1888·89. Pass'gers carr'd. 9,140,195 9,709,934 10,787,420 11,465,976 Pass'germileage 239,150,020 254,709,295 272,745,019 279,210,767 R'te p.pass.p.m. 2·36 eta. 2·29 eta. 2·30 cte. . 2·24 ote. Frht. (tns) mv'd* 8,494,239 9,737,312 10,912,315 11,154,763 Frht. (tns) m'ge* 1466,892, 717 1754,598,596 1939,044,1021804, 701,661 Ratep. tonp.m.t 1·24cts. 1·15 cts. 1·02 ots. 1·03 cts. Earnings$ $ $ $ Passenger....... 5,646,150 5,820,151 6,279,621 6,261,277 Freight......... 17,503,244 19,329,484 19,118,797 18,193,646 Mail, express,&o 1,130,206 1,171,681, 1,299,14.0 1 1 237,336 Tot. miles oper'd Locomotives ...• Pass en. ,&c. ,cars Freight,&c. ,cars Grossearn's. M."aint'ce of way " oars, &o Transp. & miscel Taxes........... 24,279,600 $ 2,951,880 2,048,673 8,156,221 702,452 Total ........ . Net earnings .••• P.c. exp. to earn 13,859,226 10,420,374 57·08 Expenses- 26,321,316 25,692,259 3,227,245 2,212,289 8 ,918,681 712,125 26,697,558 $ 3,351,700 2,507,673 10,055,684 755,742 15,070,342 11,250,974 57·26 16,670,799 10,026,759 62·44 16,027,287 9,664,972 62·38 $ * Including construction material. t On paying freight only. $ 3,266,967 2,30.9 ,006 9,749,683 701,637 MAP OF THE CHICAGO & NORTH WESTERN tnead N https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis E RAILWAy & CONNECTIONS. JANUARY, RAILROAD 1890,) STOCKS AND 41 BONDS. Snb111crlbers will confer a great Cavor by giving immediate notice of any error discovered in tbel!Je Tables. Bonds-Prino .• rNTEREST OR DTVrDENDS. : Mile11 Date Size, or pal, When Due. Amount of Par Rate per When Where Payable, and by Stocks-Last of Road. Bondi;- Value. Outstanding Cent. PayalJle Whom. Dividend. i IH~SCRTPTTON. For explanation of column headin~s, &c., see notes on first page of tables. - -- - - ()hie. ti; Nortltwe.• fern-(Oont.inueti.)Consol. s. fd. M.. purchPAaule (no ~ dr.} at 110 .. c~ 776 1865 $1.000 Madison E>xtension, 1st M.,g. (s. r ,$23.000 not dr nJ 129 1871 500&c. 1,000 Chio. & Mil., 1st m01t., Cllicago to M lwaukee . •• . 85 1R63 35 '76&SO Menominee River, 1st mort., g-uar .. r.wo St'ries ..•. 500&c. M.enomineePxten .. 1st M, g-.(s.f $20,000. not, dr.) 120 1871 Gen con@. M .. gold, s.f. 1 p.o. ($48,000,000) .. c&r l,058 1872 500 &c. Winona&St. Peter, 2dmort. (now 1st), guar . . ... . 13!.l 1870-1 1,000 do lRt M. exten. gold., lan<I g-r., s. f .. 187 1871 100 &o. 1,000 Iowa 1\-Jidla.nd. 1st M , g-11ar., Lyons to Anamosa . 69 1870 Northwesl!n Union, lstM.• ~ .• Mil. to Fo11ddu Lac. 62 1872 !)00_&<' 24 1878 Roch. & No. Minnesota, 1st M .. lme to Zumbrota. . Chic. Mil. & N. W., construction bonds ..•..•.... } 153 { 1882 --·· Chicap;o & Tomah, lstmort.• ,ru.ar ............... 1880 1:000 Mil. & Mad. 1st M., guar. Milwaukee to Madison. 81 1880 8. f.bds.(lstM. col.) ($15.000p.m.)red.atl05 .. c&r .... 1879 1,000&c 8. f. deuen. not drn.Cfor C.St.P.M.&O.stock).c&r~ 1883 l,OOO&c Debenture bonds of 1909 (for $6,000,000) .. c & r* .... 1884 1,oou&c O.& N.W. ExtE>n. bonds ($20,000 per mil ) .... c&r 1886 l,OOO&c 1,000 Ottumwa C.F.& St.P., lRt M.,guar.($25.000 p.m.1 .64 1884 1,000 Des Moines&Minn. lstM.,DPs M.toJewell Jc.,&c. 6.3 1882 1,000 3t:I 1~81 Escanaba & Lake Superior RR .• 1st mort .•..... .... Dakota Cent. RR .. lstM., Watettown to Redfield. 71 1882 do 1st l\I .. Southeast Div. (to Elaward t>n ) .. 125 1882 1:000 North. Ill .. lst M. ($20,000 p. m.) guar. U.&N. W. 75 1885 Other small issues 1see remarks) ..•..••......•...•. Cedar RapioR & Misi;ouri River, 1st mort ...•...•. 70 is6i 500&0. 1st M .. 2d Div., Mar~hallt'n to De8 M. Riv. &c .. 58 1863 500 &o. 146 1866 500 &c. 1st mort .. 3d Div., D es M. RivntoMo . RivAr ..•. Mort. of l B84. ~d M , Ced. Rap. to D es M. River. 1 26 1884 Maple River 1st M .. Maple Riv. JunP-. to Maplet'n 60 1877 1:000 Fremont Elkhorn & Mo. Val.. c onsol mort ...••••. 1,106 1883 . 1.000 8. C. & Par•, Cal''T'r ,IIFIS'd. $40.000<lr'n. yt>11,1ly c 188::J --· .... --- ---- · 1887·88. 1888·89, Receipts$ $ Net earnmg-s 10,026,759 9 664 972 Disbursemmu$ ' $' lntereston debt• 5,2Hi,156 5 540 456 Dividends....... 3,44*,504 s:4441504 ~~ 6 6 Sinking fund 58,000 58,000 58,000 58 000 · ·· _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ,_ Tot. dlsb'm'ts. $9,039,867 $8,638,702 $8,717,660 $9 042 960 ' ' Balance.surplus $1,381,507 $2,612,272 $1,309,099 $622,012 ~ s s credit items. GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAlt, 1886-87. 1887-88. 1888-89. Assets$ $ $ 144,161,050 148,372,056 150,822,P58 Road and equipment ..•..••. 6,082,225 10,321,015 •lJ,1~9.310 Bonds owned ..•.......•..•••. 12,282, lfiO 12,467,159 tl2,467.159 Brooks owned ......•....••.••. Land grant investments ..•.• 2311,000 253,000 276,000 Bills and accounts receivable 1,757,952 1,846,520 1,!-77.541 Materials, fuel, &c ....•••..•• 3,000,\in 2,455,296 1,614.709 4,:.l14,036 3,669,099 Cash on hand ..•........•..••. 3,204,384 4.320,175 4,438.177 Trustees of sinkil\g fund .••. 4.522,402 Total. ................... .. 176,048,646 1!:la,8:1.2,;;:1.2 186,114,163 ~t ~~~nii.n INCOlllE ACCOUNT. 1885·86. 1886-87. $ $ . 10,420,374 11,250,974 $ $ 5,536,363 5,136,198 3,444,504 3,444,504 i Liabilities- i I --- --- $12,747,000 2.977,!500 1,700.00U 560.000 2,546,500 12,336,000 1,592,000 4,067,500 1,350,000 3,365.000 200,000 601.000 1,5~8.000 1,600,000 14,457,000 L0.000,000 3,869,000 15,46 i ,1100 .L,600,000 600,000 720,000 1,007,000 2,000,000 1,500,000 531,000 700,000 582,000 2,3~i.ooo 769,000 402.500 7,725.000 280,000 7 7 g. 7 7 7 g. 7 g. 7 7 g. 8 7 g. 7 6 6 6 5&6 5 5 4 5 7 6 6 6 5 ··,;· 7 7 7 7 6 ~ Q.-F. N. Y.,Co.'sOfflce,52 Wall rlo do do do J. & J . do do J. & D. do do ,J. & D . do do M.&N. do do J. &D. do do A. & O. do do M. &8. do do '.\{, & 8. do do M.&N. do do M.&N. do .do M. & 8. do do A. &0. do do M.&N. do do M.&N. do do F. &A. do do M. & 8 . do do F. &A. do do J. & J. do do M.& 8. do do '.\I.&N. do do do M. &8. do do do F ..&.A. do do F. &A. do do M.&N. do do .J. & D. do do J. & J. do do A. & 0 . do do do do M. & 8. A.. & o. .J. & J. Feb. 1, 1915 April 1, 1911 July 1, 1898 July 1, 1906 June 1, 1911 Dec. 1, 1902 Nov. 1, 1907 Dec. 1, 1916 Oct. 1, 1900 June 1, 1917 Sept. 1, 1908 Nov. 1, 1905 Nov. 1, 1905 Sept. 1, 1905 Oct. 1, 1929 May 1, 1933 Nov. 1:, 1909 .Aug. lo, 1926 Mar. 1, 1909 Feb. 1, 1907 July 1, 1901 Sept. 1, 1907 Nov. 1, 1907 Mar. 1, 1910 1892-1908 Aug. 1, 1891 Aug. 1, 1894. May 1, 1916 June 1, 1909 July 1, 1897 Oct. 1, 1933 M1tr. 1, 1896 Fort Dodge RR. was leased in '87. Tile annual election occurs in June. In Nov., 1889, a contract for exolla'lge or traffic WIIS made with A.tohison. See V. 49, p. 6 39. In Nov., 1889, 'action was instituted ~o foreclose tbe Chtc. Kan. & Neb. mortgage, wllich is d~posited as pa.rt security for the eueosion and oollatnal trust of 1884. STOCK AND BoNDs.-Dividends have been paid as follows since 1 ~~~as~iz~Jn1Jg~ ~~!k: 8 ~l~~~~·i1c?1:.S~e, ~~~ 1888, 612; l l l ] 889, 4 ; in Jan., 1890, 1. Range of prices of stock was as follows since 1876, viz.: in 18771 8212'cbl0512; Jn 1878, 9838()122; in 1879, 119@15012; in 188u to July, 149@204; July to Dec. (new stock) 100¼@143; in 1881, 129 @14815g; in 1882, 122@14014; in 1883, 11612@12714: in t884. 10014@ 126¾; in 1885. 105iU32; in 1886, 12018@131; in 1887. 109@14079; in 1888, 94 7a,, 114¼; in 1389, 89¼@1043s; in 1890, to Jan. 17 inclnsive, 9515gw , 85g. The extensi•,n and collatE'ral trust 5 per cent bonds of 188! (trustee of mort~aire U. 8. Trust Co.) are is>1ued at the rate of $15,000 per mile f or single traclf, $5,000 per mile addi tional !or equipment and $7,500 for double tra<llr. They are secured ei ther by the direct lien of a fl. 1-st mortgage or by deposit with tile trustee of an equal a.mount of 1st mortga~e 6 per cent bonds of branch lines. After July 1, 1 ➔ 94, they are redeemable at 10!'> m the ord.er of their numbers, beginning with the lowest . The difference in rate of interest or the collateral trust bonds and th'3 lionds deposited (1 pP,r cent yearly), as it accumulates, is invec!ted in the collateral trust bonds If purohas.1,ble below 105; oth~r• wise It reverts to the company. The bonds deposited t9 secure them are the following-: $3/~28,0JO Wisconsin ~nnesota & Pa.cifio bonds on road from Mo l'to"', Minn., to Watertown, Dak., 12 l miles, antl Red Win.go to Manka.to, .Minn, 93 mil~s (the Wisconsin Minnesota & Pacitto beJngoper ~ted by the Mmn.& St L9uis); $1,280,000 St.Jo.& Iowa bonl!8..t on road from Altamont to Rushville, Mo., 64 mili:,i,; and $24,617,0w bonds ($3,8:!7,000 for equipment) of the Chio. Kan. & Neb. RR. Co, which tn Apr. 1, 1889, had constructed 1,388 miles or road, principally in KanfiaA, 1md completed a lme to Colorado Springs, Col., in Oot., ::.889. Also $1,155,000 bonds were il;sued to retire the tlrst mort. bonds of Kansas City & Tvp1:1 ka Ry. Cll., owning 10 miles ro.1d, a Lridge over KansaR RivE>r and terminal propel"ty in Kansas vity. (See abstra.ots or the extens 'on and ' collateral trust mortg-age, and of the mortgages secnring- the bondR deposited, in CHRONICLE, v. 47, p. 260, 261, 262.) In August,, 18:39, suit was be.gun by the M:Ptropolitan Trust Co., as·trustee, to fo reclose tile Chicago Kansas & Nebrd.8ka mortgage in the intere~t of the collat eral trust bond holdi,rs. The fl sea) year ends March 31. Annual report for 1888·9 in V. 4.8 p. 762 and 798 . The mileage, earns., &c., hav-, been a1:1 follows: 1885-86. 1886·87. 1897-88. 1888-89. 1,384 1,384 1,527 1,592 Miles owned& oper. ~~'fu tFi~ riit; Btock, common................ 41,374,866 41 ,374.865 t41,374,866 Stock, preferred . • • . • • • . . • • . • 2~,325,454 22,325,454 $22,325,454 Stocks of propriet'ry roads,&c 674,1R3 66R.933 584,360 Bonded debt 11....... .. . . . . .. . . 97,384,500 103,433,500 105,121,500 Divid'ds declared, not due~... l,3::Jl.600 1,331,599 1,331,599 Sinking funds paid . . • . . • • . . • • . 4,3'.!0, 175 4.43R, 175 4,a22,400 Current bills. pay-rolls, &o.... 2,721,369 2,050,770 1,294.8'73 Uncollected coupons, &o.. .••. 135,506 122,880 14. 7,45 8 Duetoroadsin Towa.......... 316,814 790.955 1,041,092 :N ote of Consol'n Coal Co..... 125,000 125,000 125,000 Accrued interest. . ............ 1,473,:')36 1,552,796 1,574,828 Miscellaneous.... ......•.•••.. 157,000 115.209 167.369 Land income account......... 714,104 1,188,546 1.5 70, 7lfl Railroad income account..... 2,994.fl39 4.303.639 4 .92!">.~49 Total....................... 176,u48.646 183.82~.322 11't>,1l4, 10a ~cludPs F. E. & M. V. consols and Wyoming Central RR. li<ts owned and pledge i as 1·ollateral for extension 4s of 1886, $ l 1,015,000. t Includes Chfo. St. P. M. & O. stock, $10,315,659; F. E. & M. V. RR. uperat-io nsBto.ck, $1.966,flOO • .Also owns C. & N. W. common stoC'k, $10,007,5:!0, Pa~sengers carried. 3,121,607 3,517,624 3,720,334 3,705,992 anif preferred stock, $2.284-includcd on otht>r side of tbe account. Pa.ssenge~ mileage . . 129,2og,401l33,091,642142,578,651 14fl.2Q6,'!43 t Includiu" $10,007,520 common stock and $2,284 preftrred stock in Rateperpass.p.mile 2 ·420 cts. 2·328 cts. 2·336 . ots. 2·206 eta. Co's treasury. Freight (tn ... ) oarrit:"d 3.873,6u5 4, t"'O, 109 4,970,496 5,o 1 t:!,>i.ifJ II Includin'-! live hondR 1D sinking funds May 31, 18R9, of U,417.500. Freight (tons) milA,... 7.L9,97:.!,565 793.824,454 941,661,006 874,604,510 . -{V. 47,p. 108,182,300; V. 48, p. 763; V. 49, p.131, 141, 17-1,525, Av.rati:,p.tonp mile 1•07 eta. l·Ol eta. o·93 cts. v·ll7 eta 639, 760.) ~ Uuwpany's freight not included. {Jbicago & Ohio Rlver.-Line of road from SJdells, Til., to Olney, 86 mileA. TlliR Co. was Ol',l{anized in 1886 as SUl!<·essor of the Danville $ $ Earni'llgs$ $ 3,367,001 Olney & Ohio l:dYer. foreclosed in Feb. 18~6. .An extension to the Ohio Pa•Flenger ..• ~....... 3.097,916 3,489,501 3,127,258 8,4lu,t20 River l11 pr, :jP•·ted. Income houris are convertible into stoc·k for fivi:, yPars Freight. ....... . . . . • . 7, 7 t:-J,ti59 3,0'.-l7, 45J 8,801,354 1.21._., .. 7•z l,O.U,608 from May l.'86. GroFs earnings 1 n 1887-8:3, $ )6,93 3: net,$1,7lti;de- Mail,t:l.x:pr's,r'nts,&o l,ln3,131 1,183,681 flcit under interei;t, $15 2tH'>. In 1&86-87. gross, $75,377; net over op• Gro~s earning~. .. .. 1:.:i,ou-1.:14,; 12,3 19,050 13,50:-),727 l~ .8 H,Ol9 eratinz exp.-n..:es alld fixed «bargPR, $1,639. Aut>tin Corbin, President, Opert1.ting expenses 7,[,01,809 9,127,199 8,742,060 7.166.893 N. Y. City. -1V. 4i, p. 21, 289, 3u8.) 3,713,830 4,767,667 {Jbfcag;e Hock Island & Pacfflc.-(See Map.)-LINE OF ROAD.- Net earnings....... 4,837,455 4,814,2U Owns fl•ow Ullim1~0 to Uouncil Bluffs, 500 miles; Davenport, Ia., to At• p f to · 59·70 60·92 71·08 64·71 chison, Kan., 3-12; .Atchison Junction to Leavenworth, Kan., 22; Wash.c.o op.ex. earn. INCOME ACCOUNT. ngton, Ia.• to Kuoxville. 78; South Englewo1 1d to South Chicago, 8; Wil.lS~Cl-9, 18R7-8. ton to Mus<·atine. 12: Newton to Munroe, 17; Des Moines to Indianola 188fl-6. 188R-7. and WinterAet, 47: Menlo to Guthrie Centre, 14; Atlantic to .Audubon, $ Receipts$ $ . 3,71~,d31 25; .Atlantic to Griswold. 15; Avoca to Harlan, 12: Avoca to Car- N'et t:larnings ......••• 4,837,455 4,814,l40 4,7n 1,667 220,tlOO 130,000 son, 17; Mt. Zion to Keosauqua, 4; Wilton to Lime Kilm1, 6; Al 1amont li'rom land <levartm't 310,000 2JO,OOO to82,498 193,170 to St. JoRE' b. fiO miles; So. St Joseph to Rn;,hvi_lle, 15 milt>s; K an. City Inc. from proil. roads 114,487 844,UOO · to Arruom·il11le, 2 m1'e;,; t01al owned. 1.186 m1teA. Leases: Ua.meron Pm,.,, on bondR. &c . 1.416.442 Mo., to Kam;as City, fl4; Bureau Junetion to Peorfa.. 47 mi,eA: KP-olrnk Chic. K. & Neb. iut .. _ _ _ __ to De11 Moiues. 1R2; Dt:>s J\IoinPs & Fo1·t D onge RR., Des Moines to 5,U-!4,~4.U o,0~4.b37 5, l47,¼5.:> Total income ..••• Fort Dndge »n<l Rnt.bven. 14-l ruiles; total leased, 407 m l es. Total Disbursements$ $ $ operatE><l. A y,ril 1, l 1-8\J, 1.593 miles. 411,400 303,762 301,995 Rent leased roads .. The Cllic. Kan. & Nt:'h, rnil,·11ge was as follow-": .Apr;l 1, 1889. Owned. lnterest ON <lebt .... . l,2la,250 1,a20,ot>7 l,810,77tl Elmw, od, Kan .. to Liberal, K:-in., 440 mi es; .rleri ngton, Kan., to Add'n and imp. aco't. 463,000 Pond C11· ek, I. T .. H,U ntiles; Hel'in ~ton, Ka,, .. to Salina. K n., 49 MiRC1ellaneous* •.••.. lf;-t,'784 nuleA; H111 tt111 . Ka11., to Roi-wPll Col., 5ti9 mileA: F11irhury, Nt-b , t<' Dividends ...... ..... . 2,937,lt:!o Neleon. J\e1.,.. 511uilrs; 1\11-Far .and, Kan.,to Belleville, Kan., 104 mHe""· Rate per cent .....••• 7 Dodge City to Bncklin, Ka11., 2ti DJile~ ; total own Pd, I ,3F8 miles! 5,43~,Uo4 7 ,u3J ,493 5,\,80,~l<> 4.,,.1-,i>~7 leases tnwka~e Ka.usaR Ci1y to No. Topt>ka, an'1 Limon, Col., to Den v .- ; Total disbursements (over Un. Pm·. H.t<.),i.11d Dt-u,nto Put:blu (uverlJenver& Rio Grande) Ba.lance, surplus •••• 585,753 def.974,235 67,240 311,703 276 miler iu all: total, 1,R64 miles 0RGANIZA110.N-Tlie Ubicago & Rock Island RR. was chartered in * Includes renta.1 and tolls Mo. Rivt>r Bridge. Illinois Feb. 7, 1851, and 011ened from Chicago to tht' MissiAsippJ River t ~et. earns. or liae1:1 wt>st or Mo. Riv. from June 1, 'Si, to !'d'oh. 31. '89 : July. 1854. Tlle Pl't-t<eut Ul.uc. R. I. & Pacittc waA a consolid11tion June i Iuclutle~ renal pwid to C. K. & N..June 1, 1887, to M<lh. ::n. 1889. 4', 1880,with ~50.000,000 stock authorized, and a stock dividend of -tV,47,p.21,f<l,108,200,327,4~~,745; V.48,p.222,462,762, 798' 100 per cent to the holders of Chio. R. I. & P. stock. Des Moines & · v. 49, p. 206, 6:,g,) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ' https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE CHICAGO, ROCK ISLAND A .ND PACIFIC RAILWAY SYSTEM AND ITS CONNECTIONS. .JANUARY, 1890,J RAILROAD STOCKS AND BONDS. 43 Snb111crlber111 will confer a great favor by giving Immediate notice of' any error dl111covered In these Tables. DESCRIPTION. For explanation of column headings, &c., see notes on first page of tables. B onds-PrlnctINTEREST OR DIVIDENDS. Miles Date Size, or p al, When Due. Amount Rate per When of par of Where ~h~~~ and by Stocks-Last Outstanding Road. Bond& Value. Cent. Pay'ble Dividend. - - - --- - - - ----- -Ohicano & Northwestern-(OontmuedJ1883 Mo.V.&BlairRR.Br'~e, lat, red'ble aft.'93 ..•..••. 81oux City & Pac., lat m ...•..••..... ..•..•••...... io2 1868 102 1868 do 2d mort. (Gov't subsidy) ..•• do pref. stock (l&t M. on 6 m.). <Jhicapo cf Ohio River.-lat mort. (for $iOO,OOO) ..•• ·s6 iss·6 Income bonds, oonv. into stock till May, 1891 ... ·--· 1S86 Chicago Bock Island& Pac.-St.'ck (for $50,000.000) lat mort., Chic., IlL, to .Council Bluffs & br'obs . c·· 636~ is1 Chio.& Bouthw.. lstM.g. (g'd ill our. l:iy C.R.I.&P.) 271 186 lat M. ext.and ool.($20,000 p.m.),red.aft.'94,o.&r. 1,676 1884 ,Chicalo St. Louis & Putsb.-Common stock ..••..•.. 702 Pre erred stock (6 per cent cumulative) .•••....•. 702 lat M., consol. gold ($22,000,000) a. fund .•.••. c * 580 issa 1st M. Chio. & G't Eaet. (Chio. to Logansport) .. c• 117 1863-5 ao Col. & Ind. Cent. (Colum. to Ind. and br.).o· 208 1864 93 1865 do Union & Logansp't (U'n City to LOgans).o' do Cinn. & Chic. Air Line(Rich. to Logans.).c* 107 1860 2d M. Col. & Indianapolis Central. ••....•..••... c* 208 1864 ,Chic. St. P. cf Kan. Oity-Priority loan, red. at lOj,. 815 1889 lat, M., g. (red'lJan., 1896) ...••. . .•...•• .••..... c* 302 1886 Minn. & Northwest'n lstM.,g.,$16,000perm •. c• 514 1884 1889 General mortgage.............. . •• - •......••...•. Income bonds (conv~ into 5 per cent pref. stock),. . ••. 1888 Chic. St. Paul Min'polis ~ Omaha-Common stock .. 1,394 Preferred stock .••...•...•..••••.••...•...•..••...•. 1,394 Consol. mort.for $30,000,000 ($15,000 per m.).c* 1,384 isso Chio. St. Paul & Minn., lat mort., gold ..••.•.••. c* 177 1878 North Wisconsin, lat morttaae .......•...••..••. c* 80 1880 Bt.P.&Bi'x C., lstM.,g,($7, 0 ,000)$10,000p.m.c... 608 1879 Bt. Paul Stillwater & Taylors' Falls, lat mort ..•. c 21 1878 Hudson & River Falls, lstmort ..•....•.......•.. c 12 1878 p g Minnea olis East RR. 1st mort., uaranteed .•.. c 3 1879 3 .... .... ---· 100 1,000&o ' 100 &~1,000&c 100 100 1,000 1,000 1,000 1,000 Var. 1,000 $1,000,000 1,628.000 1,628,320 169.000 21s;ooo 618,300 46,156,00(J 12,500 000 5.000,000 31.997,00() 9,060,787 17,49R,5!-l4 13,772,000 223,000 2,631,000 715,000 108,500 780,000 1:000 1,000 9;i9:i,i)oo 9,628,000 $500&c. 500&0. lOO lOO&c. ---· 100:&c. 4,981,700 100 18,559,593 100 11,259,933 1.000 13,067,675 ·500 3,000,000 1,000 800,000 1,000 6,070,000 500&c. 334,800 1,000 125,000 1,000 75,000 --6 6 6 3~ 6g. 6 1 6 7 5 g: . --· --- J. & J. N.Y.,B'st'n,Col.Na.t.Bk. Jan. 1, 1923 ,J. & J. lj,Y., Co's Offlc ~,52 Wall Jan. 1. 1898 J. & J. U.S. Treas., at maturity J an. 1, 1898 A.. & 0. N.Y.Co,.'s01lioe,52Wall Oct. 1, 1889 May I, 1916 M.&N. N.Y.,CorbinBk. Co. May 1, 1916 No <'OUpons paid. M.&N. Q.-F. New York & Chicaifio. Feb. 1, 1890 J uly 1, 1917. J. & J. N. Y., 13 Wilham t. Nov, 1, 1899 do do M.&N. do do J uly 1, 1934. J. & J. . ... .... -..... ··5·g. A.. ·&·o. N. Yd Union Trust Co. ocCi:-·fa32 o do 1893 & '95 7 VarioWJ do do Nov., 1904 7 J. & J. do Dec., 1905 do 7 A.. & o. do 7 F. &A. do Aug. 1, 1890 Nov., 1904. do 7 M.&N. do 5 J. & J. Lon.don & Amsterdam. Jan.1,1934. 5 g. J. & J. N. Y.,47 Wall,& London July 1, 1936 5 g. J. & J. do do J uly 1, 1934. 4 3 coups. funded. 1.989 J ..&.J. None paid. 5 July 1, 1936 --ir J ..&.. J. N. Y., (Jfflce, 52 Wall st. do do 6 J. &D. 6 g. M.&N. do do 6 J. & J. do do 6 g. A.. & o. do do do do g. J. & J. J. & J. do do J , & J. 7 do do i J an~20:·i890 J une 1, 1930 May 1, 1918 J an. 1, 1930 A pril 1, 1919 J an. 1, 1908 J uly 1, 1908 J an. 1, 1909 Chicago St. Lonl8 & PHt111bnrg.-The mileage is as followti: / Street, N. Y. (V. 47, p. 353,531,593, 595; V. 48, p. 70, 4S9; V. 4.~, Columbus, o., to Indianapolis, Ind., 187miles;branches-BradfordJunc. p 335,372,503, 614. Ohl Logansport, Ind., to Illinois State Line, 60 m.; Indianapolis to Kokomo cago St. Paul l'filnneapoll111_& Omaha.-(Bee map Chicago ,(operated jointly with Lake Erie & west.) 55 m.; Cin. Rich. & Chic. RR., .t N(?rthwestern.) . M1Lea~e: Eastern ~1v:-E1roy- to St. Paul, 196 .xajles Hamilton, o., to Indiana state line (and leased road), 41 mile~; Cln. & (1 rmle leased); River Falls -'?ranch, 2.:> m_Ues; Stillwater ~ranch,~ mhes; Rich. RR., Rendcomb June., to Hamilton, o., 24 m.; Englewood, Conn., South Stillwater Branch5 m_1les: Eau_ClaireBr_anch,;:3 m1les ; ~eills~ille :2m.: total operated, 702 m . Branch, ,16 _m :; _St. Paul to M1i:ineap(?liS, 11 m: tlea 3ed); total, 2o 7 ID:ilea. This is the reorganization (March 20, 1883,) of the Columbus Chicago Northern D1vis1~n-Yorth W1sconsm _Junction to Bayfield, 170 miles; ,& Indiana Central road, sold in foreclosure on Jan. 10, 1883. The A.stllan<l; Junctt(?n. to A.shl~nd, 4 ID:tles; A<Jhl8'.nd Shore hne, 1 mile; -c. c. & I. o. company was formed Feb. 12, 1868, by consolidation of Eau 91a1re to Chicago Junction, 81 mil~s; SuJ?er10r: Junction to Dul_uth, the Col. & Ind. Oen. and Chic. & Great East. railroadcompanies. In Aug., 73 miles; tot?,l, 33_7 mll1;1s. St. Paul & S_1oux C1tr D1v.-St. _Paul to Sioux .,88, acqui red Cin. Rich. & Chic., previously 1.·ased by Uin. Ham. & Day. City, 269 miles (25 miles leased); Mmneap~lls to M erriam June.! 27 U'he Penn. RR. and the Penn. Co. hold a large amount of the 1st con- miles (leas~); 1:,ake Crystal to Elmore, 4:4 m1les; H er c;m Lak:e to P1pe solidated mortgage and the stocks. The preferred. stock is entitled to 6 stone 55mile~; s_1oux Fall~ Jun_ction to M1tchell, 131 m t~e 3; ~uver.ne to percent yearly if earned, and is cumulative. Doon, 2 8 mil~s. total, 5.:>3 miles. Nebraska _Div.-M1ssouri R1ver to . The sinking fund for com,ol. bonds is 1 per cent or outstanding bonds Omaha, 123 mil~s; Coburn Juno. t~ Ponca, l6 m;le;i; Norfolk Branch to and intere~t on those bought. Emer:son, 46 !11·• W~kefl.eld to Hartmgto11:, 34 m., W~yne to R"'!]-dolph,22 In l88S it was proposed to issue debentures to fund overdue coupons miles, total, 2_41 mile1a. Total,. 1,389 miles (63 miles of which under ($2,015,478) on the 5 p ~r cent roortg-age bonds, but none are yet out. le~se.) Pr~prietary road, 5 miles. ~otal of all, J:?ec. 31, 1~88_, 1,394 For year t 888 , gross earnings, $5,371,646; net, $892,959; def. untler miles. Thie was~ oonsolida_,tionJuly, ~o. of the Chic. St. P. & Mmn~ap. ,charges, $ 2l6,38 4 . (formerly West Wisconsin)! tne ~orth Wisconsin, a11:d the_S~. P. & s. City. The annual report of this company for the year 1888 was pubPreferred stock ha_,s apr10r right to n~m-cumulat1ve ~1v1dend of 7 p~r liahed in the CHRONICLE v. 4.8 p. 686 to which reference should be made. oe1;1t from net ea~g~; but common 1s never to receive more than 1s ' ' • pa.id on preferred. D1v1dends on prdf. stock have been: Fro.n 1831 to INCOME ACCOUNT, 188!, inclusive, 7 p er c ant; in 1935, 434; fro.n 1836 to 188 ::!, inclusive, 1885. 1836. 1887. 1888. 6 per cent; ·n 1889, 3. !rotal gross earns .... $4,567,596 $4,842,316 $5,887,180 $5,371,6'15 In Novem1Jer, 1882, a controllinO'interest in the stock was purchased Op. exps. and taxes . 3,807,645 3,9 66.301 4 ,311,16'i 4,478,686 rortheChioago & Northwestern Railway by the acquisitioRof 93,200 59 5 1 $~7ti,Olo $1,576,015 $892,959 ihares of common at an average price of 48·40, and 53,800 shares of Net earnings.···· $7 ,ij preferred at an average of lo4·04-the total cost being $10,315,659, Disbursementswhiob stock is held as an asset of the Ohio. & Northwestern Company. Rent1:1lspaid . .... . ... $21,224 $21,'22! $21,918 $14,000 Reporttor1888 was in CRBONJC•,E, v. 49, p, 459. The la,ndsalesin ht., &c., on debt,.... 1,079,241 1,074,121 1,068,775 1,080,125 l888 were 16,878 acres for $44,782, including lots; land contracts Miscellaneous........ 17.565 _ _9 5~8~ 145,324 5,'n8 and notes on haud Deo. 31, 1888, $1,959,170; lands undisposed of, Total disb'rements. $1,118,030 $1,191,134 $L,236,'117 $1,109,343 1310,476 acres. Earnings, &o., were as follows: -B alance .•••...•..•• . def.$358,079 df.$315, 119 sr.$339,999 df.$216,384 INCOME ACCOUNT. 1887. 1888. --(V. 46, p. 133,227,371,036; V. 47, p, 498; V. 49, p. 686.) 1885. 1886. Receipts$ $ $ $ Chicago St. Paul & Kansas Olty.-(See Map).-Main lines (all Gross earninga.... •• 5,814,810 6,153,267 6,910,973 6,411,137 .steel) Chicago to bt. Paul and St. Joseph, ti!)O mi es; Hayfield to Central Net earnings . •••. ••• 2,093,659 2,304,692 2,307,258 1,762,979 tlowa. Junction 47 miles; branches Summer to Hampton 6-1 miles; to from land grants 721,995 741,065 654,501 506,062 <Joal Mines, &o., in Iowa, 10 miles; other, 4 mile11; total owned 815 ½I Net 33,235 73,959 39,954 71,012 •miles. Leases, St. Paul to Minneapolis, 10 miles; Chicago terminals 10 Otherreceipts....... • miles; Dubuque to Aitken, 16 miles; D es Moines terminals, 112 miles; Total income.... 2,848,889 3,119,716 3,001,713 2,340,053 .total leased 3712 miles. Total, 853 miles; but only 833 operated, 20 Disbursements$ $ $ $ miles being leased to Iowa Central. . 62,982 117,009 82,288 81,265 Organized May, 1886. .Amalgamated DecembAr, 1887, with Mlnne- Rentalspaid......... 1,334,324 1,337,956 1,337,956 1,380,745 ~ota & N. W., which was chartered in 1854. From July 1 to Nov. 30, Interest on debt*.... 675,408 675,4.08 675,408 450,272 188!1 O mos.), gross earnings were $1,761, ~6 7 ,against $1,197,397; net Div. on pref. stock.. (6) (6) (6) (4) :$497,272, against $333,419. Fisc a l year ends June 30. Report for Rate of dividend . . •• Loss on prop. roads. 12,524 9,624· 8,409 10,010 1888-9 was in CHRONICLE v. 49, p. 614. 1888-9. 1887-8. Tot. disb · sem'ts 2,085,238 2,13~,i:;u7 2,104,061 1,922,292 18fi6-7. 750 ti08 .Av. mileage own. and uper. 355 Balance surplus..... 763,651 979,719 897.652 417,761 27,758,311 -tV. 46, p. 302,319,411; V. 47, p. 170,396; V. 48, p. 372, 459.) 22,350,472 1Passe::iger milPage . .••. •••. 8,199,49) 2•23 c. 234c. Rate per p a ss'nger per mile 3·oo c. Chicago & We111tern Indlana.-Owns from Dolton and Ham197,258,630 187,092,505 Tonnage mileage .....•..••. 71,164,238 ·soc. ·95 c. mond, Ill., to Chicago, with a belt railroad and branches, with ware Rate per ton per mile...... 1 ·26 c. houses, elevator, &c., 48 miles of roads . and 136 miles of traok in all Earninqsincluding 2d, 3d, 4th and siding track (of which 51 miles were leased to $">27,666 $246,130 $688,962 the Belt R'y of Chicago), and about 400 acres of real estate. This From p a ssengers ..•...••... l,f.>04,550 801,770 1,871,453 co~~~ny lease~ its road for ri.~ llt of way into Chicago and terminal .From rreight ...........•... 16 .J,504. :ll~,'299 217.570 facilities ther em to the Wabash, the Gr. Trunk of Can., the Chic. & E. F1·om mail, express, &c .••. $2,251,015 $~,777,ij85 Ill., the Chic. & Atl., the Louisv. New Alb. & Chic. and Chic. B. Fd & Cal. Total gross earning.i . .••. $1,216,410 1,817,135 2,140,080 roads; the annual rentals stipulated exceed the interest charge considrn9,911 --Op. exp., taxee, insur., &o .. $liS4,3j0 $416,499 $637,905 erably. Stock, $5,000,000; par, $100. The bonds are liable to be Net income ................ .. redeemed at any time at 105 by a sinking fund, which is provided for by Deductincreased rentals to be paid for that purpose. Sinking fuud payments $595,725 $ , 71,'379 in 1890 about $100,000, applying only to lat mortga ge bonds. The $345,170 Interest ..••..•..•..••.••••.. 163.826 236,825 general mo,tgage bonds will be subje Jt to redemption by sinking fund Rentals .••..••.......•..••... $345;i1u $75il,551 $1,108,704 wheRever the fl.rs rs are all retired. In 1888 gross receipts were $869,Balance •. . .•....•...•..••. sur.$71,328 det.$325,171 def.$170,799 922; net, $344,388: surplus over fixtd charges, $344,387, against The Co. has al~o $3,282,600 3-year notes outstandin~ due 1891, to be $168,829 in 1887. (V. 47, p. 2 )1; V. 4.8, p. 159, 762; V. <19, p. 3 72.}J 1 Chicago 4: We111t M~chlgan.-Owns from Lacrosse, Indiana, to funded on c ertain terms, and mort. coups. for 3 yrs. are to be deposited d n trust till the roa<l can earn full int. (See plan atlengtb. in CHRONICLE, Pentwater, Mich., 209 miles; branches-Holland Junction to Allegan, v. 49,p. 372). The Minn. & N.W. mortg. is limited to$16,000 perm. of 23 miles; HoJ..!.and to White Cloud, 70 miles ; White Cloud to West Troy, road plus cost '> f terminals in cities. not to exceed $20,000 per mile; the 18 miles; Fr_mtport t!) Muske~on, 10 miles; Kirk's Junction to Pickbonds outst anding- cover the road between Chio, & St. Paul (400 m.)and and's Junct10n, 3 miles; Musiregon to Port Sherman, 6 miles; Mears other road, total 511 m., with bridgeatSt. Paul,and extensiveterminals to Hart, '3 miles; B. R. Junction to Big Rapids, 52 miles: West Troy in S r. Paul, Minneapolis and Dubuque. C. St. P. & K. C. lst M. is limited Junction to Baldwin, 12 miles: Lilly Junction to Sisson's Mill, 2 miles; to $20,000 perm. of road plus certified cost at par or terminals in cities total o:perated, 408 miles. Extension north from Baldwin to Traverse and or equipment as required over the wholA system, provided maximum Jity, Mich., 74 miles , in pro.;ress. In 1887 leased to Chicago & Ind. -does not e.x ceed $25,000 perm. on total mile ,ge owned; the bonds out- Coal RR., about 18 miles. Orga nize~ as su(_lcessors of Chlcago & Mich. LakeShoreJan.1, 1879, -standing are t h u s 1st mortg. upon 300 miles between Des Moines and 8t. Toseph aud also upon sundry equipment, together with terminals in anct consolidated m Sept., 1881, with the Grand Haven road, and St. Joseph and Kansas City; and further have a lien upon the remaining the Grand Rapids Newaygo & Lake Shore. There are yet outstanding 511 miles, subject only to the Minnesota & Northwestern bonds as au- $24,000 G. R. N. & L. 8. 2d Div. 7s, due June l, 1905. In June, 1889, thorized. Common stock $14,892,900, par of shares $100. A. general4 sto ckholders had the privilege of subscribiugf,J r $1,000,000 new bon·ls, l})er cent mortgage was autbor1zed in 1889, but none ye:; sold. with $5,000,0JO new sto~k, to extend road Crom Bald Nin to Traverse A. B. Stickney, Pres't, St. Paul, Minn. w. L. Boyle, Vlce-Pres't, 47 Wall City, 75 miles. o., to Chicago, Ill., 231 m.; Richmond,Ind., to AnokaJunc.,Ind., 102 m. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INYESTORS' SUPPLEMENT. MAP OF THE 3: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CHICAGO, ST. PAUL & KANSAS RAILWAY. r FORMERLY MINNESOTA AND NORTH-WESTERN RAILROAD· [VOL. L. JAN0AliY, 1890.] RAILROAD STOCKS A.ND BONDS. Subscribers 1,vill confer a great f'avor by giving immediate notice of' any error discovered in these Tables. Bonds-Pr1.nc1• INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or pal,When Due. A.mount For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable, and by Stocks-La.it Road. Bonds Value. Whom. on fir~t page of tables. Cent. Payable Dividend. Chic. dl West. Indiana-lstM ,,v:., s. f.,.dr'n at 105.c• Gen'l mort., gold, sinking fund, red. at 105 .... c~ Chicago dl West Michigan-Stock . .......•.... . ..•... Gr. Rap. Neway&o & Lake Sh., RR..lst mort ... c* Gen'l M. ($12,0 Op. mile), 1st M. on 242 miles c•· Ohippewa V"aliey-lst M. f!, $&£ for$1,800,000 ... c" Oincinnati Hamilton dl Dayton-Stock .. ........ .... Pref. stock, Series A&B(div.on $521,600 ls Q.-F ) Consol. mort. ($996,000 are 7s) $ & £, s. f . .•.. c• 2d mortgage , gold . ................•............. c* Cin. Ham. & l. (Junction) RR., 1st mort .. guar .... Oinn.Jack.dl Mack.-let,consol., g.($10,000 p.m.) c' Cincinnati Van Wert & Mie-h.. 1st mort .......•. c• do do 2d M., inc., non.cum.. red. at 100 Cincinnati Leban on dl Nm·.-1 st m. (for $200,000) .c Oincinnati dl Muskingum Valley-1st mortgage ... . Oincinnati New Orleans dl Texas Pacific-Stock ..• . c Oin. Richmond dl Ohic.-lst mort., guar........... . Oin. Richmond dl Ft. W.-lst mort., gold, int. gu .c* Oincinnaii Sandusky cl. Oleveland-Stock . ..••... ... Preferred stock .......................•... ...... .. .. lst.M., S. Day.&C.(M:ad.R.&L.E )8 f . dr'n at 100.c 2d mortf Cine .. Sandusky & Cleve ......•. .. ... .. c Consol. st M. ($3,000,0 UO) gold . ... ........••.. c Cincinnati cf Springfield-1st mortgage, guar .... c o'f!l~~~}i1!i,iis',i, ror$i",ooo;ooo. ~ i Miciiiua1~~i: Oleveland Ak1·on dl Oolumbus-Stook ..•..•....•...•. 1st mort., gold, redeemable at par after 1890 ... c* General mortgage , p;old (for $1,800,000) .•...••. c Otevela·nd, dl Oanton-lst mortgage ..•...•....••... - -· ---· 48 48 408 36 408 __c__ 1879 1882 $1,000 $2,138,000 1,000· 6,496,666 100 6,1!50,200 is1i 1,000 576,000 1,000 1881 3,597,000 ('!) 1,000 1888 347 . 100 4,000,000 347 100 1,521,600 1,000 2,841,000 60 i875 1,000 2,000,000 1887 99 1,000 1,800,000 1,000 331 2,090,000 ..... 1891 100 &c 1,176,000 1881 368, 500 ·ss .1886 1:000 140,000 148 1870 1,000 1,500.000 336 100 3,000,000 36 is66 1,000 560,000 86 1871 1,000 . 1,800,000 190 50 4,015,750 .. 190 50 428,850 170 i866 1,000 2 04,000 170 1868 200 &c 1,079,100 1,000 170 1888 1,297,000 43 1871 1,000 2,000,000 l.000 48 1872 651,000 165 1882 1,000 As collateral h !4 100 4,000,000 144 iss·6 500 &c. 260,000 194 1887 500 &c. 1.•a1.ooo 1,000 161 1887 2,t.,00,000 --· ½~i:, -· I 6 f!, M.&N. 6 g. Q.-.M. 1 F. & A. J. & J. 8 5 J. & D. 5 g. J. & J. 2 .. .. . 1 Q.-J. 5, 6, 7 A. & 0. 4-½lg. J. & J. J. & J 7 5 g. J. & D. J. & J. 6 6 ..... 5 J. & J. J. & J. 7 3 J .. &.J. 7 7 g. J. &D, 1 ½I -··· M.&N. 3 F. &A. 6 J. & D. 7 5 g. J. & J. A. & 0. 7 7 J . & J. A. & O. 6 1 .... 6 g. J. & J. 5 g. M. & S. 5 J. & J. N. Y., Drexel, M. & Co. do do Boston, 26 Sears B'ding N. Y. Union Trust Co. Bost., Nat. Webster B'k. N. Y. & London. ............ Cincinnati. N.Y.,Mercantile Tr. Co. do do do do Central Trust Co. N. Y., Sheldon & Co. .... - ..... Cinn., 4th Nat'l Bank. Jan., '86. op. last J•ald . . Cincinnati, co·s Office. N.Y ., Winslow, L. & Co. N.Y., Winslow, L. & Co. Bos'n Office, 3 M6r. Row do do Boston, Nat. Revere Bk. Bos. Office, 3 Mer Row. N.Y.,UnionTr.&Boston. N. Y., Drexel, M. & Co. do do New York Agency. N. Y., J. A. Horaey. do do do do N.Y.S.V.White;Bos.l.Tr --· Nov. l, 1919' Dec. 1, 1932 Aug. 15, 1889' July 1, 1891 Dec. 1, 1921 Jan. 1, 1929 A.ug. l, l 887 Jan. 7, 1890 Oct. 1, 1905 Jan. 1, 1937 Jan. 1, 1903 Dec. 1, 1936 Jan. 1, 1901 Jan. 1, 1930 Jan., 1916 Jan. 1, 1901 Feb. 28, ) 8 : 9 July 1, 1895 June 1, 19~1 s,m t. 2. 1889 Nov. 1, 1889 Aug. 1, 1900 June 1, 1890 Jan. 1, 1928 A-pril 1, 190J Jan. 1, 1902 Oct., 1912 April 1, 1889 J an. l, 1926 Mar. 1, 1927 July 1, 1917 1 Dividends smce 1880 have been: ln 1881 and 1882, 2½1 per cen ~; in 1883, 3; in 1884, 4; in 1 885, 112; in 18~6, 3; in 1887, 2½1; in 188~, 2; in 1889, 2. Report :tor 1888 was in CHRONICLE, V. 48, p. 525. In 1888 gross ea.rnings were $1,417,801; net, $37<',900; surplus over char{!es, $139,860; dividendi,, (2 per cent) $123,00'1; balance, $16,856. (V. 48, p. 189, 525, 801,827; v. 49, p. 760. ) Chippe-wa Valler..-Projected from Mount Pleasant, Mich., to Manistee, about 120 miles. Trustee of mortgage is Central Trust Co. Cincinnati Halllilton & Dayton.-0wns from Cincinnati, o., to Dayton, O., 60 milee; leases Deslller to Findla,y, 18 miles; Bowling Green RR .. 6 miles; Troy & Piqua RR., 8 miles; Dayton & Michigan, Dayton to Toledo, 142 miles; Cincinnati Hamilton & Indianapolis, Hamilton to Indianapolis, 99 miles; Cin. & Dayton RR., Middletown to Hamilton, 14 miles. Total operated, 347 miles. In Aug., 1888, the Cin. Rich. & Cbicago was transferred to the Chicago St. Louis & Pit ,sburg. In June, 1887, authority to issue $10,000,000 pref. stock was voted s,nd part was issued under the Ives management, but was contested. The bonds issued in 1887 are a second lien on the ma.in line, 60 miles, and also covtr the road from McComb to Deshler, 9 miles, tile .:.•erpetual leases of the Dayton & Michigan and Cincinnati Richmond & ..,u1cago roads and $1,366,653 of debt claimed to be due from the Oi~omn11ii Hamilton & Ind. RR. Co. Dividends on common stock since 1882 have been: In 1883. 9 per cent; in 1884, 6; in 1885, 6; in 1886, 7 ; in 1887, 6; in 1888 a nd 1889, nil; i-: Jan. 1890, 114. On series A and B preferred stock from Jan. l. 1883, to July, 1886, at rate of 6 per ctnt; from July, 1886, to date, at rate o:t 4 per cent yearly. Fiscal year ends March 31. Report for 1888-89 was in CHRONICLE, 48, p. 826. INCOME ACCOUNT. Receipts1886-87. 188i-88. 1888-89. Gross earnings ...•..••...•.•••••• $3,066,967 $ '." ?,447,574 $3,478,387 Net receipts ...................... $1,l 74,9SO $1,442,925 $1,387,001 .v. DiBbu1•1, em ents- Interest on bonds................ c. H. & D. dividends . . •. . . •. .. . . D. & M. dividends............... Treasurer's miscel. ex1-1enrns.... $1'107,443 325,259 132,024 8,812 $576,959 120,000 171,401 73,542 $551,1 31 46,405 17J,40l 41,~88 $810,825 Total disbursements . . •. . ••• $973,538 lf941,902 Balance, surplus ................ $201.392 $501,023 $576,176 -(V. 46, p. '769,802; V. 47. p. 170,563; V. 48, p. 826.) Cincinnali .Jackson & Mackin.aw.-0wns from Carlisle O.,north to Addison, Mich., 188 miles; Allegan to Dundee, Mich. 133 miles; leases, Dundee to Toledo, 23 miles; total operated, 344 miles This company was formed February 12, 1886, by consolidation ot the Cincinnati Van Weit & Michigan Railroad and the Jackson & Ohio Railroad. In 1897 ptucbased the Michigan & Ohio sold in foreclosure. See abstract of mortgage (Cential Trust Co. of New York, trustee,) v. 45, p. 574. In November, 1889, Mr. Walston H. Brown was appointed receiver upon a judgment for $228,897 in favor of W. S. Tod or New Yori<. Plan for reorganization was in CHRONICLE, V. 49, p. 824, by which $3,266,000 4 per cents are to bE' issued to retire at par the consol. 51! and the Cincinnati Van Wert & Michigan firsts, and $18,416,800 common stock to retrre at par the incomes, on pay ruent o:r 5 per cent assessment, and the present common and preferred stcck on payment of 5 and 7 per cent respectively. .F"isoal year ends June 30, and report for 1888-89 was in V. 49, p. 578. For year endiogJune 30, 1889, grossearntngs were $5!: 8,631; expenses, $518,612; net, $70,01!-l; interest, rentals. etc .. $.201,616; d eficit, $131,· 597, against $123,663 in l887-88. July 1, to Sept. 30, 1889 (3 mos.l, gross earnings, $178,353, against $162,379; nAr-, ~51,:'>19, against $37,843. N . Y. office. 10 Wall St.-(V. 47, p. 563,801; V. 49, p. 300, 433,470,5'78,653,718,82-1 .) · Cincinnati Lebanon & Northern.-Cincinnati, 0. to Dodds, 0., 36 miles; branches, '2 I.U ea; total, 38 miles. This Co. was formed in 1885, as successor o:t th• f1in.n. Northern, sold in foreclosure. Stock is $988,000; par, $100. In 1887 gross earnin!!R were $lll,7l 7; net. $25,477; surplus over charges, $20,477. In 1888 gross earnings $L04,9,;2; net incoU1e, $25,232; surplus over charges, $14,519. Cincinnati & Muskingum Valley.-Owns from Morrow, O., to Dresden Junction, 0., 148 m.ileR. Sold under foreclosure Dec. 3, 69, and reorganized as at present J an., '70. A decree for tlle sale of the road waA made in 1887. Gross e.-1,rnings in 1888. $'129,392; net, $-10, 430; deficit undet· interest, 1 etterments. etr .. $Hi6,54.9. 111 1887 gross. $441,054; net, $44,695: deficit und r fixt,d charges, $102,252. AmOLrnt due lei<see D ec. 31, 188!3, $1,081,013, and for coupons u_p to Ja;i_, 1880, not p resented, $ 316,050. Capital stock, $3,997,320. Cincinnati New- Orleans&Texas Pacific. (See Jfap).-Thisis the company organized under the laws of OWo Oct. 8, 188), to operate the Cincinnati Southern, and 51 per cent of the stock is held by the En,l!lish companies, the Ala. Great So. Ry. vo .. Lim., and the Ala., New & Tex. Pao. J. Co., Lim. The Cincinnati Southern road extends from Cin cinnati to Chattanooga, Tenn., 336 miles. The Ala. N. O. & T. P. al.;;o controls the Vicks. & Mer., 142 miles: Vicks. Shrev. & Pac., 189 milos ; N. O. & No. East., 190 miles: and Spani. h Fort RR., 13 miles. See title in this SUPPLEME:NT. The annual report for 1888 in V . 48, p. 32 '", https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Or. I gives in.formation as to the condition and affairs of tlle company. The rental due the Cincinnati Southern is $912,001) till 1891, $1,012,000 till 1896, $1,102,000 till 1901, and ;fll,262,000 1,ill 19v6. In 1889 the OWo legislatLtre authorized the extemion or the lease of the Cinn. Southern. See V. 48, p. 250. Dividends since 1881 have been: In 1882, 1½1 per cent; in 1883, 3: in 1889, 3. From July l to Nov. 30, 1889 (5mos.), gross earnings were$1,810 1 120. against $1,587,733 in 1888; net, $748,000, against $528,286. Fiscal year now e n.ds with June 30. The annual report for 1889 in V. 49, p. 340, gave the following in• come account for tour years: ,- - - - Year ending- - - - - - - - - . Dec. 31, '86. De :!. 31, '87. June 30,'88 June 3 ,1,'89. Gross earnings .....• $ 2,882,l72 .$3,377,." i5t $g,525.775 $3,'>55,859 Working expense.s. .. 1,833.579 2 .116.78d 2,362.3 72 2,510,602 Net earnings ..••. $1,04~,5l:12 $1,2ov,7o5 $1,lti::J,40~ $ 1,145,259 Other pa,vmenls1885. 1886. 1887. 1888. For rental . . . . . •• . . •. $ 334,043 $912,000 $9 l2,0 , 0 $ 9 12,000 Surplus . •.. . .•• .••• 214,549 31~.765 251,402 233,256 Dividends............ .. ...... . . •. . . . . . . •.. . .• • 90,000 Sinking funrl· . ... .••• 56,277 63,766 77,359 69 199 Net surplus. .... . $l58,271 $284,999 $182,203 $65,897 -(V. 46, p. 25~; V. 48, p. 221, 2~0, 326; V. 49, p. 340.) Cincinnati Richmond & Chlcago.-0wns from Hamilton, o .. to Indiana State Line, 37 miles; leases, .Ri <1 b.mond, lnd., to OWo State Line, 7 miles: total operated. 44 miles. Was leased in perpetuity from Feb., '69, to Cinn. Ham. & Dayton Co., but in Aug., 188 8, the U. H. & D. sold its $350,000 stock to the Chic. S r. L. & Pitts., aud uutil it is paid for the C. St-. L. & P. pays $17,500 a year ren tal a t1d interest on the bonds. Tllere are 2d M. bonds for $65,000, overdue. Capital stock, $382,600.-(V. 46, p. 573, V. 47, p. 170, 2Z6.) Cincinnati Richmond & Fort Wayne.-0wns from Richmond, lnd., to Adams, Ind., 86 miles; leases ·5 miles of Pittsburg Fort Wayne & Chicago; total operated, 91 miles. Leased for 99 years to Grand Rapids & Indiana, the rental being net earnings; in• terest is guaranteed by the lessees and by the Pennsylvania Company and Cll. St. L. & Pitts. Company, jointly. Gross earnin~s in 1887. $418,500; net, $l00,49Z; loss to guarantors, '!130,961. GroR~ in 1888, $ t06,492; net, $96,123; def. under charges, $31,519. Capit:-tl Atock, $1,70~ 313; par$50. Total advances by guarantors to uec. 31, '88, $1,118,551. Cincinnati Sandusky & Clevelaild.-Owns from Sanduskr• Ohio, to Dayton, Ohio, 154 miles; branch, Carey to Findlay, 16 miles, leases Columbus Springfield & Cincinnati, 44 miles; total, :.ll4 miles, of which the division between Springtield an l Dayton, 24 miles, is leased to the Clev. Col. Cinn. & Ind., leaving 190 mlles operate1l. The preferred sto c.k has a lien by deposit of old bonds in trust. Tue mort;. gage of 1888, due 1928 (trustee, A.m. Loan & Tr. Co. o:t Boston). wasto retire the preferrnd stuck and prior bonds wb.en due, ;i;:.t,6u0,000 bonds being pledged tor this purpose. The Mad. R . & L . E. bon:h have a sinking fund of about $30,000 per year. bond~ drawn at par. Dividends since 1876 have been: On preferred, 6 per cent yearly to date;. on common, in 1882, 2 and 10 in stock Col. Sp. & Cin. RR.; in 1884-, 2; in 1888, 5 (Out or judgment agst. I. Bl. & W.J; in 18e9, 3-½l. In year ending June 30. 1889, gross ea.rnings were $814,879; ne-t, $2 0,73!; rental received, $94,606; total ner, $3oa,:-J40; interest. $22'7 ,.. 506; surplus, $157,834.; dividends (6 per cent) on pret. stock, $2 -'">,731; balance, $132,103, of which $J6,597 pa.id to C. d. & C. as aduitt0nal rt'.ntal. (V. 46, p. 771; V. 47, p. ~1, 10~, 326; V. 48, p. 99, 129; V • t9, p. 21, 580.) Cincinnati ·& Sprlngfteld.-0perates from <.,"'incinnatt, Ohio, to Springfield, Ohio, 80 miles, of which 32 miles a.re leased tro1n other companies. The whole is leased and operated by Cleveland Ci.n Chic-. & St. L. Co., giving them a line into Cincinnati, and depot a.ccommoda• tlon. Lessees apply any excess over operatin" expenses and interest to C. & s. stock. Interest ts guaranteed on the tlrst mortgage, one-half by the lessees and one-halt by L. Shore & Mich. Southern. Stock is $1,100,000 (par ,150), voting power on $616,450 being held ay trustee for 0. C. C. & I. To January, 18:o;l) . tne C. C. C. & I. ha. i a tvaa.ced $2,872,869. Gross earnings in 1888, $1,190,789; net over expenses> tental, &c., $l28,594; det. ua.dl3r inte l·e,it, & .J., $> 7,116. Cincinnati Wabash & Michigan Rallway.-0wus frorn Beut-~!l Haruor, Mich., to Anderson, ru,t., 165 miles; uses 0. C. 0. & I. t::-,w.ks Anderson to Indianapolis, 36 miles. Sold Nov. 5. l879, and reonra1Jized Ar>ril, 18~0. Th re ara $~1 i,voo b ,ads depo~ited as collat.,rat'.1'.or loan of ao out $ 360,000 Stock. $i oa,o -,9; par $lu0. In Sept.,. 1 ~bH, a cont1 ol tiu~ m el'est in tile stock was sold t > Ev..1,uwill~ ,It rtll'r& Haute RR. p-1.r1ie~. Uross earnings for 11:Bd, $1::19,thJ; net, $118,954; -(V. 49, IJ. ;:J72.) Cleveland Akron & Colnlllbus Kailway.-0wns from Hudson, O., to tJolu uhus, 0., 1 44 miles, and ln·anell, Kilbuck to L we -ville, 50 w lea; total, 194 wiles. The Cleve. Mt. 11 ... r uou & Del. W-t.A t!old in for eclo,mrn m 18~2, and reJt·~anized u der this title 1n Jan., l886. The 1st mortgaie boa.els 1u,1y be r ecte ellled ,1f1er 1~90, ,mrt of the l{ennal mor bgage suffioient were held to retire tile firsts. From .Jan l to S-ov. 30 (11 mos.) i I l,.d9. gro.:!s ear11in.irs were i 68-l 5 n, a~a.iu t $637 325 in 188 ; net, $173.3 -8. a~ainst $141.1.73. Uross earning13 lo 1888, $ , 92,977; net, $129,2~5 ; surplus over interest, 61.C., $34,778; Gross in https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE CINCINNATI, NEW ORLEANS AND TEXAS PACIFIC R Y AND CONNECTIONS. JANUARY, 1890. j RAILROAD STOCKS AND BONDS. Subs crl berl!I w lll c ont e r a great f'avoT by giving lmmedlate notice of any e rror dil!lcovered In thel!le 47 Table■ • Bonas-.t'rmctINTE R EST OR DIVIDENDS. Miles D ate Size, or pal,When DuP.. Amount Par For explanation of column beadings, &o., see notR of of Rate per When Stocks-Last: Where Pwbable, and by Road. Bonds Value. Outstanding Cent. Payable on :first page of tables. om. Dividend. DESCR IPTION-. ·--- OleTJeland Oincin. Ohic. d .St.Lams-Common stock. 1,152 Stock, preferred, 5 per rent non cumulative . ..• . 1,152 Indianapolis Cin. & Laf. M., 1st on 64 miles ..... c 151 Ctn. & Ind.; 1st mortgage.. . . . • . . . . . • . . . . ••..••.. o do 2d m ort~age .••.....•....•.•.......... c Gen.1st M.g.,C.I.St.L&C.s.r.lp.o. b'dsnot dr'n.c&r Con. M. ·c. I. St. L. & t '., drawn at 105,s. r. 1 p. o .. c* Cincinnati Lafayette & ChicagoJlstmort., gold, o . 1st mort. Bel. & Ind. (Part due yearly) .....••.... do c. c. c. & I. sink:inf fund ........... Con. M. C.C.C & I. (s.f.lp.c. )dr'n a 100 ifunstmp'd Gen. con. M.C.C.C. & I. g. (for $12.000,000) .. c•&r Indian. & St. L.-lst 'd., in 3 ser. of $667,000.. c Mort. for $2,000,000, gold, Inruanap. to T erre H. 1st mortgage on Cairo Vin . & Cbic.W,old ..... c* Cle-oel. Lor. ct Wheel.-Cl. Tusc. Val. & . 1st M .. .. Ole-oeland ti Mahoning Valley-Stock .• • •.••••.•••.•. 1st mortgage, extended ..•..••..••..••...••..••. c* 3d mortgage (now 2d) . • . ..••..••...•....••...••. c" Consol. mor~. for $3,00 0,000, (reg. int. Q.-J.) c&r OleTJetand cl Marietta.-lst mortgage ..........•. c&r OleTJe. ti Pittsb.-8tock, 7 p. ct. guar. by Penn. Co .. 4th mortgage (now 1st) ........................ ... c Consol. sink. fund mort. lor $5,000,000, not dr'n .c Constr'n and equip'tinc. bds., Ser. ·'A"} 8.f.drn.o do do Ser. " B" at H,O.c Ole-o. St. L. cl Kans. Oity-1st M. (for $7,000,000). c* Bridge and Terminal M. for $4,000,000, g ...... c• Colorado M i dland-1st m., gold ($25,000 p. mile)o* 2d M.(lstM.JeromeP. Br.), inc. cum. ti11 '91,g.. c" :'1d M. (for$3,000,000), g., income cum. till '93 .. c* Consol. M . for $6,00U,000, gold ................... ~quip. bds. ($500,000), dr'n at 105 (s.f. in '9 l). c~ 21 21 389 175 56 119 391 391 391 72 72 266 158 125 67 67 125 225 199 199 . --· 22 25·2 267 267 267 ·--- ·-· ·-·· is67 1862 1867 1886 1880 1871 1864 1869 1874 1884 1869 1882 1889 1878 isfa 1876 18R8 1887 isi,2 1867 1873 1 873 1888 1888 1886 1888 1888 1890 1888 --- $100 $20 ,500.000 Drexel, Morgan & Co. 119 Q:..:·j. 100 10;000,000 do do 114 1,000 395,000 F. &A. do do 7 1,000 297,000 J. &D. do do 7 742,000 1.000 7 J. & J do do lOOO&o 6,776,000 4 g. Q.-F. do do 1,000 776,000 M.&N. do do 6 1,000 820,000 7 g. M.& 8. do do 1,000 216,000 J. & J. do do 7 1,000 3,000,000 do do 7 M.&N . 1,000 4,073,000 7 or 6 g. J. & D. do do 1,000 3,205,000 6 g. J. & J . do do 1,000 2,000,000 do do 7 Various 1,000 6 g. M.&N. 500,000 do do 1,000 5,000,000 4 g. J. & J. do do 1,00 0 700,000 7 A. & O. N .Y .. Union Trust Co. 50 2,759,200 Cleveland, Office. Quar. 311s 500 &o. 654,000 7 g. F. &A. N.Y.,Winslow,Lan.&Co. 500 &c. 487,900 do do 7 M.& 8. l,OOO&c 1,500,000 do do 5 g. J. & J . 1,000 600,000 6 F. &A. N. Y., Jobn Paton & Co. 50 11,247,036 Q.-M. N. Y., Farm. L. & T. Co. 1~ 500 1,104,844 do do 6 J. & J . 1,000 1,982,000 do do M.&N. 7 1,000 1,537,000 do do J . & J. 7 1,000 463 ,000 do do J. & J . 7 1,000 500,000 5 g. J . &.D. N.Y., Holland Tr. Co. 1,000 520,000 5 g. F. &A. do do 1,000 6,250,000 6 g. J. & D. N. Y., Central Tr. Co. '1,000 New York City. 1,500,000 6 g. F. & A. 1,000 2,1 59,000 do do 6 g. M.&N. ,.. ___ do do 4 g. F. & A. ·500,000 1 ,000 . M. & 8. N. Y .. 8. S. B!tnds & Co. 7 '87, $609,530; net, $151,102; surplus over· fixed charges, $ 83,901, out of which paid div idend (119 per cent) $60,000. R epo1t for '88 in V. 48, p. 687. (V. 4 t1 , p. 68'7.) . Oleveland & Canton.-Line of road-Cleveland to Coshocton, O., 115 miles; Canton to Sherrodsville, 43 miles; small branches, 8 miles; total, 166 miles. Made standard gimge in Nov., 1888. The Connotton Valley Railroad was sold in foreclosure May 9, 1885, and this company wasorgani-zed. Capital stock is $3,067,300 common and $7,582,100 preferred: -p ar $100. There are al so $173,600 5 p er <'ent coupon notes due in 1891, $l47,331 5-year car trusts and $741,825 5@6 per cent mortgage and other rotes due in 6 months to 3 yearfl. The full report for year ending June 30, 1888, was in V. 47, p. 533. Gross e arnings for year ending June 30, 1889, $ 390,2 i6; neli,L$122,347; surplus over charges, $10,155. The gross earnings ror year enrung June 30, 1888, were, $ 385,361; net, $124,075; surplus over interest. $99,252. From July 1, '89, to N ov. 30, '89 (5 months), gross earnings were $211,196, a g ainst $162,533 in 1888 ; net, $72,076, against $52,822. (V. 46, p. 200, 227, 320. 448,480,481,677; v. 47, p. 81,498,533,664; v. 48, p. 127,122, 799.) Ole veland Cincinnati Chicago & St. Louis.-( See Map.JOwns :-Cleveland, 0., to Columbus, 0., 138 miles; Galion, 0., to fndianapolis, 203 miles; Delaware to Springfield, 50 miles (these three lines, 391 m ., compose old C. C. C. & I.J; Cincinnati to Lafayette (old Cin. Ind. St. L . & Chio.,, 175 mile11, and branch, 3 m.; Indiana.polis to Terre Haute (old Ind. & St. L.1, 72 m.); total owned, 641 miles. Leases and operates: - Cin. Laf. & Cbic. (the entire stock owneai. Templeton, Ind., F. to Kankakee. Ill., 75 m.; F. & M. RR. (entire stock ownedno debt), Fairla nd, Ind., to Martinsville, 38 m.; Vernon Green. & R. RR. (all bonds and 70 per cent stock owned), North Vernon, Ind., to Rushville, 45 m.; Col. Hope & Green. RR. (ail bonds snd 61 per cent stock owned), Columbus to Greensburg, Ind., 24 m.; Kankakee & Seneca.RR. cone-half stock and bonds owned), Kankakee to Seneca, Ill., 42 m.; other line"', entire stock owned-no debt, 12 m.; Cin. & Spring. (leased for 99 years-55 per cent stock owned), 81 ring:fl.eld, 0., to Cincinnati, 80 m.; St. Louis Alton & Terre Haute and branch (leased), 193 m.; Cairo Vinf'enn,. s & l hie., Cairo to Tilton and bra.nob, 266 m., with traclr• age, 12 m.; branch lt·ased, 2 m.: tracka'1'e, Ill. Cent. into Chicairo, 56 m.; total open,ted, 1,478 miles. Also owns jointly Dayton & Union RR. (operated separately), 47 m. The Cleveland Vincinnati Chicago & St. Louis Railway Co. is a, consolidation or tbe Cincinnati Indianapolis St. Louis & Chicago Railway Co., tbe ClPveland Columbus Cmcinnati & Indianapolis Railway Co. and the Indianapolis & St. Louis Railway Co., made in .July, 1889. The Cairo Vin. & Cbic. road was afterward acquired, and the Ohio Ind. & West. is to be 1aken in. Tbe cons •lidation agreement provides that the consolidated company shall not issue any evidence,. of funded debt or execute any lease of railway property which may entail in'1reased fixed cbarg-es, except bv tbe consent of ll majority in interel'lt "f tbe holders of said preferred stock, -with 1he exception of the $5,000,()00 4 per cent 100-year bouds iesued for the acquirement of the Cairo Vincen. & Obie. Railway. The :first annual statement, with the balance sheet, was in tbe CHRONICLE, v. 49, p. 578. Dividends have been: On preferred stock 114 per cent quarterly to date; on common, in January, 189n, 112 per ct>nt. Pnce of !'tock has ranged as follows: Common in 1889 5819- to 7818: in 1890 to Jan. 17, ioc-lusive, 69~'@72; preferrtd in U:89, 96 to 103~; in 1890 to Jan. 17, inclusive, \!7@98. Of the Indianapolis & St. Louis ti.rat mortgage bonds series "A" are J. & J. ; series "B." M. & S. ; series "C," M. & N.; and the C. C. C. & I. RR. guaranteed $750,000 of them. Of the 6 pPr crnt bonds the C. C. C. & I. RR. owned $1,500,000 (on which no interest is paid) , and the other $500,000 (<l ven above/ are owned by tbe Penn. RR. Co. The sinking rund provision or C. C. <J. & I. consolidated bonds may l>e canceled at option of llolders, and the bonds so stamped. The C. I. St. L. & C. 4 p. c. mort. for $10,000,000 (Central Trust Co. and Hervey Bates, trustees) will retire all prior bonds as thev fall due. The sinking fund for these bonds is 1 per cent yearly of the ·amount of out standing bonds; payments lapse when bonds cannot be purchased at 10212 and interest. Statement for tbe t1ve months enrung Nov. 30 WP-Sas foll()WS: ,--July 1 to Nov. 30.--... 1888. 1 889. Gross earnings ................. . . . .... . ~5,0;:;1 ,688 $5,474,1•13 Operating expenses . .................. . 3,268,89 6 3,527,043 - ---Net earnings . ........... . .......... . $1,782,792 $1,946,970 Interest, taxe!l, rentals, &c ..•....•.••• l,198,'i89 1 ,214.,53 2 ----Net income ................ -............ $584,003 $732,438 The earnin~s of tbe roads consolidated for the year ending June 30, 1889. were i'jlll,453,992 gross, the operating expenses were $7,594,171, leaving n et ear nings of $3.859.820, and the fixed charges per year will b e a bout $2,875,000. (V. 4 8, p. 799, 854; v. 4 9, p. 21,470, 578 580 616 680 ,..tiO· v 50 p 37) ' ' ' '' ' · ' · · https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I$4,600,000. There are also $150,000 C. L. & W. 1st mort. 6 per cent bonds (int. J. & J.), due July, 1895, and $163,000 car trusts, due 1889, '90 and '91. In 1888 gross earnings were $1,169,600; net, $350,250;: surplus over interest, $295,250. In '87 gross earnings were $1, 102.882;-. net, $366,021. Div. 3 p. c. on pref. stook in '87, 2 p. o. in 1889. (V. 46, p. 609, 676. v. ~8, p. 633, 68'7.) Oleveland & Mahoning Valley.-Owns from Cleveland, o.,. to Sharon, Pa., 81 miles; Niles, O., to New Lisbon, 0., and branche11~ 44 miles; total operated, 125 miles. A new lease was made to the re• organized New York P enn. & Ohio RR. till 1982; the r ental is $502,180, per year. Dividends in 1885 to 1888, inclusive, lllls per cent :rearly ;. in 1889, Ill\,. p er cent. The new bonds in 188:3 \trus tee of mortgage,.. Cent. 'J rust Co.) were for double-tracking between Cleveland and Youngstown, for te rminals, and $1,141,000 reserved to retire priorbonds in 1893 and 1895.- (V. 46, p. 708; V. 47, p. 593, 596,) Oleveland & M:arletta.-Operated from Marietta, O., to Canal Dover and branch, 99 miles, and 7 miles, Valley Junction to Canal Dover, leased. The road was roreclosed for tbe second time ln May, 1886, and r eorganized, and ll,2,000,000 new stock issued. From June,, 1 to Oct 31 110 mos.) in 1889 gross earnin ° s were $21P ,042, against $244,025; net, $47,230, aJiains~ $43,800. In year ending June 30,.. 1888, gross earnings were $326,215; net, $60,761. A. T. Wikoff, Pres't, Cambridge, Ohio. Oleveland & Pittsburg.-( See Map Penn. RR.) ·Cleveland, 0., to Roe.heater, Pa., 124 miles; branches-Bayard, 0., to New Pbila., 31 miles; Yellow Creek to Bellaire, 43 miles ; leases, Rochester to Pittsburg (P. Ft. W. & C.), 26 miles; total operated, 225 miles. The property was leased for 999 yearA from Dec. 1, 1871, to Penn. RR. Co., and lease trans• ferred to Penn. Co. May 1, 1872. Rental, 7 p. c. on existing capital (10p. <'. on tbe old) and $10,000 per year for company expenses, the lessees.assuming all 111, bilities. For the year 1888, tbe gross receipts were $3.221,154, and the de • fl.cit to lessee after making all payments was $1.22,168, against a de••· fl.cit of $27,248 in 1887. (V. 48, p. 99; V. 50, p. 70) Oleveland s,. Louis & Kansas Olty.-Projected from Alton~ Ill., with bridge over the Missouri, to K ansas City, 275 miles; an~• from Alton to St:. Lonie, 20 miles; completed from St. Charles, Mo.. to• Matsens, 22 miles, and under construction between St.. Cll ,. rles and Alton, 20 miles, and froLO Matsens westerly 30 miles. T nis is the Oentral~ Missouri RR. sola in foreclosure and reorganized. Trustee of first mort • gage is Cent. Tr. Co., of bridge mortgage, HoUand Trust Co. ·rhe latter mortgage provid es for the b•·idging of t!1e Mississippi at Alton and the Missouri at St. Charles and Arrow Rock; it covers also terminal pro:p• erty iu Alton, St. Louis and Kansas City, for wbicl:J. and the St. Lows bridge $1,500,000 only is to be used, the balance being r eserved for tb&· other bridges, if 1·equired. Stock $1,500,000 par $100. (V. 4.8, p. 688.). • Co lorado Midland .-( See MapJ-Owns from Colorado Springs to • New Ca!-tle, Col., 233 m.; Aspen br1mch, 1,9 m .; Jerome Park branch, 15 · m.: total, 267 m. At Colorado Springs connection is made with Denver · and Pueulo over tbe Atchison Topeka & Santa Fe. The stock 18-$8,000,000; par, $100. See ahstraot of 1st mort, in V. 45. p. 54.0, and • application to Stock Exchange in full in V. 48, p. 69. Central Trust Co. of New York is trustee of tile 1st, 2d and 3d mortgages. Interest on 2d, and 3d mort~ages cumulative, but payment not obligatory till 1891 and : 1893 respectively. Consol. mort:. of 1889 is intended to retire the 2d , and 3d wort. bonds, etc., $1,438,000 being reserved tor im1,rovements. . In 1888 gross, $1,369,410; net, $263,767; deficit under year's charges,. $95,573. (V. 48, p. 69; V. 49, p . 20tl, 718,) Oo l u m b la & Green ville (S. 0.) -(See .Map of Rich. d W. P. Term . ► , -The company owns from Columbia to Greenville, S. C., 143 m.; branches, to Abbeville and Anderson, 2 1 m.; total 164 m. Also owns Laurens RR.,. 31 miles; and leases Blue Rid"'e .RR., 32 m., and Spartanburg Union & Col. RR. , 69 m. Total operated, 296 miles. The Greenville & Col. road was sold in foreclosure April 15, 1880, and reorganization was made~ under this name. Preferred stock, $1,000,000; common stock, $1,000,· 000; par of shares $100; due other companies June 30, 1889, $414,848. . All the common stock is pledged by the Richmond & W. P. Terminal . Co., under its collat. trust of 1887, and in May, '86, the road was leased to the Rieb. & Danv. RR. Co. In year ending Sept. 30, 1887, grosei,. . earnlugs on all lines were $ 55 9,468; net, $102,264; interest and rentals, $242,176; deficit , $139,912. In 1887·8, gross earnings, $620,073; net, ~193,H:5; interest and rentals, $247,025; del. $53,860. 1V. 46, p. 699). Columbia & Port Deposlt.-Owm, from Columbia, Pa., to Port l)eposit, Md., and branch, 44 miles. Operated by Penn. R.R. Co. (which owns $1,822,000 7 per cents) as ai:i;ent. Rental, net earnings. In June. 1889, P enn . .RR. filed a suit to foreclose the mortgage, and property will be sold in Feb., 1 890. Rental in 1887, $61,6-!8; deficit under charges, $70,103; in 1888, rental, $139,813; surplus over chargeei,. $1,325. <Japital stock, $497,100, par $50; :fl.oatmg debt (coupons) $1,058,120 in 1889. (V. 49, p. 21, 793.) . Co~ntnbus & Cincinnati 1'Ildland.-;-Lme of road, Columbus, 0., to Clmton Val., O., 71 m. Openea in Nov., 84. S tock, $2,000,000. In Jan., 1890, leased for 999 years to Central Ohio, by which assi~ned toBalt. & Ohio. Preferred stock for $1,000,000 will be issued to B. & 0. in consideration of guarantee of bonds, interest on which is to be re• duced to 419 per cent. Gross earnings in '88, $355,825; net, $120,532;... interest, $120,000; other payments, $15,000; deficit, $1_4,468. Th ·I Oleveland Lorain & Wheellng.-Owns from Lorain, o., to West Wheeling, 0., 158 m .• and branch to Bellair1>, O., 6 m. The Cleveland Tuscarawas Valley & Wheeling was sold in l◄'eb., 1883, and reorJl'anized as Cleveland.Lorain& Wheeling. Common stock is $1,000,000 and pref. Jan. 2, 189~ Jan. 2, 189 0. Feb.I, 1897 Deo. l, 1892 Jan. l, 1892 Aug. 1, 1936· May 1, 1920 Sept. 1, 1901 Until Jan.1899 May 1, 1899 June 1,1914 Jan. 1, 1934 July 1, 1919 Nov. 1, 1912 Jan. 1, 198{►> Oct. 1, 1898 De<'. 2, 188~ Aug. 1, 1893 Sept. 15, 1896 Jan. 1, 1938 Aug. 1,1937 Dec. 1, 1889Jan. 1, 1892 Nov. 1, 1900 Jan. 1, 1913 Jan. 1, 1934. Dec. 1, 192'T Aug. 1, 1028,, June l, 1936 Feb. 1, 1918 May 1, 1913 194.cO March 1, 189~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE CLEVELAND, CINCINNATI, CHICAGO & ST. -LOUIS RY. "' J.A.NUA.RY, RAILROAD STOOKS AND BONDSo 1890.] Subscribers will eonrer a gr4'at favor by giving Immediate notice of any e.rro:r discovered lo. thase rablel!I Bonds-Princi• DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or When Due Amount Rate per When Where Payable ana. by pal, For explanation of column headings, &c., see ·notes of of P~l Stocks-Last Outstanding Whom. Road. Bonds. Value. on first page of tables. • Cent. Payable Dividend. -- ---- Columbia cl Greenville-1st mort., gold .•...•••.••. c* o:Z~:~1;,1;:i~rt" .vjoste.:.:ist·mortgage:::::::::::~: Oolumbus & Ginn. idland-lstmort . ........... c* Columbus Hocking Valley <I: Toledo-Stock .. .. ...... Col. & H. V. 1st M., (reg. $500,000 by Treas.).c* Col. & H. V. 2d morigage .•••••...•...•..•....•. c• Col. &Toledo, 1st M. (Columbus to Toledo) ...•. c* do 2d M. do do ..•.... Ohio & W. Va., 1st M . ...••..................•.••. c* Consol. mortgage, !old (for _$14,500,000) ....... c* Gen. M., g., on roa & Hocking Coal & RR. Co ... c Colum. Shaw.& Hock.-C.& E. l st m.$3,000,000.g.c* Oolumbus Springfield & Cincinnati-Srnck .•••.••. . 1st mortgage ..•...•..••...•...•...••........•..... c Oolumbus cl! Xenia-Stock { 825 p. c. r'lP. C. & St. L.; 1st mortgage ......••. c* Penn. RR,gua's lease.o .. Concord cl! Claremont tN. H.J-lst mortgage ..••... o Ooncord & Hont1·eal-Concord stock ...•......••..••. Boston Concord & Mont. new and old !stock..•.••. Bost. Concord & Montreal pref. 6 per cent stock. Consol. mortgage ($582,400 are 6s) ........... c Improvement mortgage ......••..••......••..... o C()1',n. cl! Passum.-Pref. stock, 5·6 p . c. ren'l, 09 yrs.c" 1st mortga~e ..•..•.......••..........• ~ .......•. c* Massawipp1 st'k, guar. same div. as Conn. & Pass. Newport & Richford 1st M., guar. by C. & P ... c* Oonnecticut River-Stock ............... . ......•..... Oonnecting (Phita.)-lst mortgage, endorsed . ..•. c Oorning Cowanesque d! .Antrim-Debentures ..••. c• 164 164 40 71 325 121 121 118 118 85 325 325 62 44 44 55 55 71 371 371 371 166 166 147 110 37 22 56 7 78 1881 1881 1868 1884 i867 1872 1875 1880 1880 1881 1884 1888 is1i i860 1874 .... .... . --· 1873 1881 isfa iss1 i864 1383 --- 6 g. J. & J. $1,000 $2,000,000 1,000 6 A. & O. 1,000,000 1,000 F. &A. 1,882,000 7 1,000 2,000,000 6 J. & J. 100 11,696,300 133s st'k A . . &..O. 500 &c. 1,401,000 7 1,000 J. & J. 777,000 7 F. &A. 1,000 7 2,500,000 1\1. & 8. 1,000 600,000 7 M.&N. 1.000 1,584,000 7 5 g. M.& 8. 1,000 8,000,000 .1,000 6 g. J. &D. 1,618,000 1,000 5 fr, J. & J. 1,260,000 50 1,000,000 112 1,000 1,000,000 7 .-M. 2 50 1,786,200 1,000 .& 8. 302,000 7 500 &c. 500,000 J. & J. 7 100 3,000,000 . 100 1,000,000 M."&..N. 100 800,090 200 &c. 1,947,400 6&7 A. & O. 1,000 500,000 6 J. & J. 100 2,500,000 2¼ F. &A. A. & O. 100 &c. 1,500,000 7 100 400,000 2¼ F. &A. J. & J. 1,000 350,000 5 2 Q.-J. 100 2,580,000 M. & 8. 1,000 6 991.000 M.&N. 1,000 6 1,250,000 l·&·s. ··-· ·a-- bonds are to be made 412 per cent, guar. by Cent. Ohio and Balt. & Ohio. Orland Smith, President, Cincinnati, Ohio. (V. 49, p. 579, 616, 653, 690.) ·C olumbus Shawnee & Hocklne;.-Owns Columbus June., O., (lune. c. C. C. & I) to Alum Creek June., 5 m.; Hadley June., O., .to Cannelville, 0., 44 m.; Redfield branch, 8 m.; other hranches, 5 m.; Shawnee & Musk. Div., Shawnee t0 Malta, 31 m.; tolial owned, 93 m. Ll~ases Alum Creek June. to Hadley, 0., (used jointly with Tol. & 0 Cent.) per• petuallease,24m.; Cin. &Musk. Valley to Zanesville, 5 m.; C. C. C & I., 1 m,; other, 3 m.; total operated, 12ti m. The Col. &Eastern RR. was sold Auit. 10, 1 888, and in Nov., 1 889, consolidated with the Shawnee & Musking-um River RR., forming this company. A connecting line between the two roads is to be built. Columbus Hocking Valley & Toledo.-Owns main I.me from Toledo to Pomeroy, 256 m.; branches-Logan io Athens, 26; Logan to New Straitsville, 13; Monday Creek June. toNelsonv'e, 17; others, 13; tot.,325. This was a consolidation in July, 1881, of the Columbus & Hocking Valley, Columbus & Toledo, and Ohio & West Virginia. Of the consolidated mortgage $6,500,000 was reserved to meet the prior liens; the "Hocking Coal & RR." joined in making these bonds. -The Central Trust Co. cfNewYork is trustee. The general mortgage of 1884 covers the road, and is also a mortgage on the coal property of the "Hockin~ Coal & RR. Co.," whose stock is owned by the C. H. V. & T. The divisional bonds originally had sinking funds, but upon issue of conaol. mort. of 1881 sin"king fund payments were discontinued. A combination was made in 1885 with the reorganized Ohio Central by which the company went under one management, as per the circu• lar in v. 40, p. 597, and the C. & H. V. guarantees the interest on the T, & O. C. 1st mortgage bonds. Dividends since '81 have been: In '83, 212 p. c.; in '85, 133s in stock; nothing since. Stock, $11,696,300; par $100; special car trusts, $300,000. Range of stock prices since 1884 has been: in 1885, 18@43; in 1886, 2678 @45¼; 1887, 15@39!\i; 1888, 17@36~; 1889 ll'W2814; 1890, to Jan. 17, inclusive, $1812@2012. In Aui',, '89, a default was threatened by Pres. Shaw on coupons due Sept. 1, bu t, committees of stock and bondholders were organized, the interest paid, Mr. Shaw asked to resign, and C. C. Waite electedPresid't. and 8. D. Davis Vice-President. Annual report for '89 in V. 50, p. 105; income for 4 yrs. was as follows: INCOME ACCOUNT. 1886. Receipts- $ 1887. $ 1888. $ 1889. $ 2,361,403 966,169 11,841 2,595,583 993,684 44,4.85 2,875,515 2,509.,518 1,221,853 1,025,751 28,579 10,000 Total receipts .• 978,010 1,038,169 1,250,432 1,035,751 Int. on bds. & ca.r tr. Int. on fl.oat'g debt.. Int. to Pa.RR.on l'se Miscellaneous ...••• 946,925 42,832 22,581 18,750 979,557 18,629 24,048 Gross earnings •.•. Net earrungs ....... . Miscellaneous •••... Disbursements- ........ 984,020 23,758 24,086 3,118 976,220 34,54.0 24,658 -----· --· N.Y.,Rich &Dan,2Wall Jan. 1, 1916do do April 1, 1923 In default. Feb. 1, 1893 N. Y., Farm's' L.&Tr.Co. Jan. 1, 19l4 Aug.19,1885 N.Y.,Atlantic Trust Co. Oct. 1, 1897 do do Jan. 1, 1892 do Aug., 1905 do do do Sept., 1900 May 1, 1910 do do do do Sept. 1, 1931 do do June 1, 19041 New York City. Sept. 15, 1938 Bost.,3 Merchants' Row Sept. 2, 188~ Sept. 1, 1901 do do Columbus, 0., Treasurer Dec. 10, !~8~ N. Y., Am. Exch.. N. B'k Sept. 1,1890 Bost., Treasurer's office Jan. 1, 1894 .... ·--- . --· ··--·· ---· -- ·--· Nov::·iss9 Boston, Office. April 1, 1893 do. do. J an. 1, 1911 Bost.Safe Dep.& Tr.Co. FeQ. 2, 1890do do April 1, 1893 do do FeL. 1, 1890 do do Jan. 1, 1911 Bost. ,B.&A. RR. ,Spring. Jan. 1, 1890Phila., Penn. RR. Office. 1900-'1-'2·'3·'4 Phila. Fidelity Tr. May 1, 1898 funding or the present funded and floating debt of the Boston Concord & Montreal. The Concord stock will receive such dividends as may bedeclared afler providing for the other dividends. (V. 4~ .• p. 34L) Concord & Claremont (N. H.)-Owns from Concord to Claremont,. N. H., 56 miles; branch, Contoocookville to Hl1..lsborough, N. H., 15 miles; leases-Peterboro & Hillsboro BR., 18 miles; total operated. 89 miles. Capital stock. $412,400. The lease to the Boston & Lowell RR. having been held invalid, this road was operated independently until Nov. 1, 1887, when tile Boston & Maine began to operate it under contract with Northern RR. (V. 45, p. 26). Concord & PortsJnouth.-Owns from Portsmouth, N. H., to Manchester, N. H .• 4012miles, and branch to Suncook, 7 miles. The road was sold to tirst mortgage bondholders in 1857, ar.:l leased to Concord RR. in 1862 for 99 years. Lease rental is $25,000 a year, which {rives 7 per ct. a year to present stockholders. There is no debt. (V. 47, p. 531. Connecticut & Passumpslc.-Owns from White River Junction ,. Vt., to Canada Line, 110 miles; leased, Massawippi Valley and branch (Canada), 37 miles; total operated, 147 miles. _T.J:te lease of Massa~ppi Railroad is at 6 per cent on bonds and same dtVIdends as are paid on · the stock of the lessee. From January 1, 1887, this road was leased to tbe Boston & Lowell for 99 years on a basis to pay C. & P. stock 5 per cent per annum for ten years and 6 per cent thereafter. In Oct., 1887, the B. & L., carrying this road, was leased to Boston & Maine. Dividends since 1880 have been: In 188 L, 5 per cent; in 188~ and 1883, 6; in 188i, 5 1il; in 1885 and since at rate of 5 yearly. (V ' 48, p. 854.) Connecticut Kiver.-Owns from Springfield, Mass., to South Vernon, Vt., 50 miles; branches, 6 miles; total 56 miles; also leases and owns stock of Ashuelot RR., South Vernon, Vt., to Keene, N. H., 24 miles, Lut keeps accounts separate. In year ending Sept. 30, 1889, gross earnings were $1,041,4~2; net income over rentals, interest, &o. ., $269,436: in 1887-88, ~rnss, $987,237; net $197,019; total available rbven ue, $245.452. Dividends since 1876 have been: From 1877 to 1885, 8 per cent; in 1886, 10; in 1887 a.nd since at the rate of 2 per cent quarterly. (V. 47, p. 625; V. 49, p. 855.) Connecting (Phlladelphia).-Owns from Mantua Junction to Frankford June., Pa., 7 mile Leased to Phil. & Trenton for 999 yea.rs, and with that road operated by Pennsylvania Railroad. Rental $139,· 993, which pays 6 per cent on $1,278,300 capital stock (pa.r $50l, owned by Pennsylvania RR Corning Cowanesque & A..ntrlm..-Owns from Corning, N. Y .• to Antrim, Pa., 53 miles; branch, Lawrenceville to Harrison Valley. · Pa., 32; total operated, 85 miles. Consolidation (J~uary, 1873) of the Blossburg & Corning RR. and the Wellsboro RR. June 1, 1874 t.he Cowanesque Valley RR. was absorbed. These lines are leased to and operated by the Fall Brook Coal Co., together with 7 miles owned. Rental $150,000, equal to 6 per cent on common stock and 12 per cent on preferred stock; dividends paid ql!.arterly, March 31, &o. Stock-com., $1,500,000, and pref., $500,000; par $50. Th~ coal line ot Phila. & Reading and N. Y. Central is over the road of this company.. which jointly guarantee the bonds of the Pine Creek Railroad Company. Earnings in 1887·88,. $670,812; net, $135,450; _rent~l paid C. C. & A. RR., $150,000; deficit to lessee, $12,551. Earnmgs m 1!:l86-87, $651,367; net, $174,376; rental paid C. C. & ~-, $15.Q,OOO; surplus to lessee, $24,376. George J. Magee, Prest., Watkins, N. x. Coshocton & Sonthern.-Owns Coshocton, O., to Zanesville.. about 30 miles; completed in June, 1889. President, J. W. Cassingham, Boston, Ma~s. Covington & ltlacon.-Owns :from Macon, Ga., to Athens, Ga.! 105 miles. Bonds are issued at the rate of $12,000 per mile ana capitalstock$12,000 permile.-(V. 46, p. 173.) CuIDberland & Pennsylvania.-Owns from Cumberland,Md., to Piedmont, Md., and several branches, 55 miles. It iti owned an cl operated by Consolidation Coal Co., which guarantees second mortgage. cum.berland Valley.-Owns from Harrisburg, Pa.,_to Potomac River. Md., 82 miles; leases-Cumberland Valley & Martinsburg RR.• 12 miles; Dillsburg & Mecha icsburg RR., 9 miles; Southern Pen.nay!• vania RR., 21 miles; controls Mont Alto RR., 18 miles, but accounts . kept separate; total contr..>lled and operated, 143 miles; in 1889 ex:tension to-Winchester, va., 22 miles, was opened. Of the stock, $975,800 common anCI. $237,200 prererr ed is owned by Pennsylvania RR. Co. Large advances have been m ad~ to bra~ch roacis~ The Sout~ern Pennsylvania is leased for net earnmgs; no mterest paid on bonds smc& March, 1875. In 1888 gross earnings on the main line were $752,711; net, $199.849; surplus over fixed charges, $178,209, against $165,411 in 1887. -(V. 48, p. 221.) Danbury & Norwalk.-Owns from D anbury, Conn., to Wilson Point, south Norwalk, Conn., 26¼ miles; branches to ~iagefl.eld and Hawleyville, together 10 miles ; total operated, 36¼ miles. In July, 1886, a lease of this road was made to the.Housatonic for 99 years, the lessee to pay interest and 5 per cent per annum on stock. Tot. disburse'ts. 1,031,088 1,022,234 l,034.9!:l2 1,035,418 Balance............. def. 53,078 sur. 15,935 sur. 215,451 sur. 333 (V. 48, p.100, 290,729; V. 49, p. 113,144,269,300; V. 50, p. 105.) Columbus Springfield & Clnclnnatl.-Owns :fr !.'ill Columbus Ohio, to Springfield Ohio, 44 miles. Lease to Indiana Bloomington & Western terminated March 10, 1888, and road has since been been operated by Cincinnati Sandusky & Cleveland. Dividend of 5 per cent was paid Aug. 6, 1888. (out o.f judgment against Indiana Bloomington & Western); in 1:889, 312. (V. 47, p. 108.) Columbus & Xenla.-Owns from Columbus, Ohio, to Xenia, Ohio, 55 miles. Is operated as a division of the Little Miami, and is leased for 99 years :from Dec., 1869, in connection with that road to the Pitts• burg Cincinnati & St. Louis, which pays 8 per cent on stock and pro• vides for the bonds. The lease is guaranteed by the Pennsylvania Railroad Company. The Columbus & Xenia pays 8 25 per cent dividend per annum; ~15 per cent March 10 and Sept. 10 and 2 p. c. June 10 and Dec.10. The Stpr., '89, interest was not paid on bonds, owing to disa• greement wnh Pennsylvania Company as to rental.-(V. 49, p. 300.) .c oncord & ltlontreal.-Owns from Nashua, N. H., via Concord, to Woodsville (near Wtlls River Junction), 1~8 miles; Woodsville t o Grovel on June., 53 miles; Wingroad to Mt. Washington, 20 miles; Hookset branch, 3 miles; total owned, 204 miles. Leases Concord & Port1,mouth RR., Manchester to Portsmouth, N. H., 41 miles. and branch to Suncook, 7 miles; Sun cook Valley RR., 24 miles; Pem. Valley RR., Plymouth t1J !forth Woodstock, N. H., 20 miles; Man. & No. Weare RR., 19 miles; Nashua Acton & Boston RR., Nashua to Concord, 25 miles; total leased, 124 miles. Operates lines to Belmont, Jefferson and Kilkenny, 31 miles. Total operated, 371 miles. The Concord and t.l:le :Boston Concord & Montreal RRs. were consolidated in September, 1889, forming this comp1my. The stock o~ each of the old cop:ipanies was e:xcbanged tor the same class of stockm the new corporalilon. The Eoston Ccnccrd & Montreal pref. is entitled to 6 per cent yearly. the Dayton Fort Wayne & Chicago.-Road from Dayton, o.,to Iron. Boston Concnd & Montreal new stock (of which there ia $540,400), ton, 162 miles (the former Dayton & Ironton road); Dayto_n, o., to Del• PJ1'1 old stock (amounting to ~459,600) are entitled to not exceed- phos (3 feet), 96 miles; total, 258 miles, and projected 43 m1les feom the llJg 6 per Clnt vearly C'ut ot any saving which may result from t-be rt>• Fr;n 1in~ to Fo:-t w ~y-::e. •r~s co~:r-:P1y was form d 1 n .June, 1887, by https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I 0 oMantl. MAP OF THE COLORADO MIDLAND RAILWAY AND ITS CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE DELAWARE, LACKAWANNA ~ WESTERN R.R. AND ITS CONNECTIONS. INVESTORS' MAP OF THE DELAWARE & HUDSON CANAL COMPANY'S https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD & CANAL SYSTEM. SUPPLEMENT. [VOL. I,. JANUARY, 1890.] A3 RAILROAD STOCKS AND BONDS. Subscribers will conf'er a great Cavor by giving lnunedlate notice oC any error discovered In these Tables. BondB-Prinoi• INTEREST OR DIVIDENDS. DESCRIPTION. When Due. Miles Date Size, or A.mount Rate per When Where Payable, and by pal, Stocks-Last For explanation of column headings, &c., see notes of of Par Outstanding Whom. Dividend. on first page of tables. Road. Bonds. Value Cent. Payable -Coshocton cl Southern- lat mortgage .••..••.......•. Oovington" Macon-lat M., gold ($12,000 per m.)c Oumberland cl Pennsylvania-lat mortgage ........ 2d m., a. f. $20,000 yearly, (~ar.) ex t'ded in 1888 CumiJertand Valley-Stock($ 84,900 is preferred). 11st & 2d Ms., 2d.$109,500, due April, l9C8 .. •. .•. 'Southern Pennsylvania (leased), 1st m, gold .... c• Danbury~ Nor.-Stock, 5 p. c. gu.. 99 yre. Houa. RR. 1st and 2d mortgages (2d M. due July 1, 1892).o* Consolidated mortgage ..••..••..••..•••..••..•.. o• General mortgage ..•...•...•..•• ..•.••..• .•.•.. .. c* £>ayt<m Ft. Wayne & Ohicago-Stock ($15,000,000) .. l)ayt,on ~ Mich.-Com. stock (3.lg % guar.C. H.&D.). Preferred stock, (8 per cent. guar. C. H. & D.) .• •. •Consol. mort., ~ar. princ'l & int. by C. H. & D •. o Toledo Depot d mortg~ .•••..•••.••.•••...•. . c Dayton~ Union-lat M., s Ing fund (not draw:n)c Income mortgage bonds, sink. fund .......••..••. r Dayron cl Western-lat M., guar. L. M. and c. & X.l' Dec. Ohesap. & New Orl.-1at M.,$20,000p.m., g., c* Del.lwar~tock-6 p. o. ~uar. till '98, .t', W. & B Mortjage bonds, convertible, guar. P. W. & B .. o~ Del. II ound Br.-Stock-8 % gu., Phlla. & Read .. lat mortgage .• _.. _•..••..•...••.......••......... c 1.at mort. on Trenton Br., 2d mort. on mainline .r Delaware cl Hudson OanaZ-Stock ......•.......•• ••. l st m. on property in New Y<.•rk State ........••. r Debentures secured by Penn. Div. bonda ....•.. c* 1st M. on Pennsylvania Div. ($10,000,000) .. c&r .Schenectady & Duan, 1st mortg., int. guar .••••• ·----- - - --- 30 1887 107 1885 38 1866 38 1868 125 52 24 isfo 37 33 '70-_;72 33 1880 36:lg 1883 250 152 152 is7i 142 1881 1864 32 1879 32 1879 37 1864 1889 ioo 85 i875 31 27 1875 4 1879 686 .... 187i 1874 1877 "'14 1674 ---· ---- $ ..•. 1,000 1,000 . 1,000 50 500&c. ""ifo 100 &o. 1,000 100 ""'?fo 50 1,000 0 .... 1:000 1,000 1,000 1,000 25 500&c. $600,000 1}284,000 803,500 300,000 1,777,850 270,500 625,000 600,000 400,000 100,000 150.000 <n 2,403,243 1,211,250 2,675,000 53,000 225,000 172,000 495,000 1,555:~ff,i 640,500 1,742,000 1,500,00U . 242,000 24,500,000 1,000 5,549,000 1,000 4,829,000 lOOO&c. 5,000,000 100 &c. 500,000 .... --· ·ioo Boat., Internat'l Tr. Co. N.Y.,Mercantile rr. Co. N.Y., Consol.Coal Office do do · Phila., T.A. Biddle & Co. do do Last paid March, 1875. Bridgeport, Hous. RR. oo do do do do do 1917 Sept. 1,1915 March 1, 1891 May 1. 189l Jan. 1, 1890 Apr.1,1904.-08 Mar. 1, 1900 Feb.15 1890 July 1, 1890-92 July 1, 1920 April 1, 1925 Cincinnati. A. &O. Q.-J. do. 5 J. & J. N. Y. Mere. Tr.; and Cin. M.& 8. do do 7 J. &D. N.Y., A.m.Exoh.Nat.Bk. 7 J. &D. 6 6&7 J. & J. N.Y., Bank of America. 6 g. J. & J. J. & J. 3 Dover Co.'a Office. J. & J. Phil., Fid. I.T.&.8.D. Co. 6 2 Q.-F. Phila., 24.0 So. Third St. F. &A. Phila.,Gua.r.T.& 8.D.Co. 7 M.&N. Phila.,Of., 240 So.3d St. 6 1¾ ~-Moh. N. Y.Of., 21 Cortlandt. . & J, 7 do do A. & 0 . 7 do do 7 M.& 8. do do M.& 8. 6 do do oci.:·iss9 Jan. 7, 1890 Jan. 1, 1911 March 1, 1894 Dec. 1, 1909 A.fter 1910 Jan. 1, 1903 July 1, 1921 Jan., 1890 July 1, 1895 Feb. 17, 1890 Aug. 1, 1905 May 1, 1899 D PO. 16, 1889 Jan.1,1891 Oct. 1, 1894 Sept. 1, 1917 Sept. 1, 1924 J. & J. 5 6 g. M.& 8. M.& S. 6 M.&N. 6 Q.-J. 2 A. & O. 8 7 g. :M.& s. 219 F. &A J. & J. 7 J. & J. 6 A. &O. 5 ·-i~ 2 . --- ,consolidation of the Dayton & Ironton. and the Dayton & Chicago. Stock 1885. 1886. 1887. 1888 • .authorized. $15,000,000. It belonged to the Ives schemes. In March, Disoursements$ $ $ ·J.888. R. D. Marshall was appointed receiver. Receivers certificates Coal on hand Jan. I. ...... 649,965 892~804 332,652 183,697 1or $432,COO are outstanding. In year ending June 30, lf:88, gross Mining coal ............••. 3,975,297 4,239,907 5,019,147 5,313,138 earnings were $438,812; net, $105,371; 1entals p aid, $88,418. E. Trana.to tidew'terviaErie 592,803 873,517 1,159,114 1,164,827 Zimmerman, I'residen't, Cincinnati.- (V. 46. p. 102,320, 371, 448, 738.) Trane. exp., canal, &c .... 826,987 767,151 885,810 932,282 Dayton & llil~hlgan.-Owns Dayton, 0., to Toledo, 0., 141 m., and Interest ..•...... _.....•. .. 1,082,768 1,069,067 973,571 986,994 leases D eshler to Findlay, 11 m. Leased May 1, 1863, in perpetuity to Termin'l expense & miacel. 300,453 28J,230 402,656 4.36,262 the Cin. Ham. & Dayton. Lease amended Jan. 23, 1870. The rental is Taxes ...••.......•..••...•• 222,323 183,699 17l,577 169,189 the interest and sinking fund of debt, and 8 per cent on preferred stock Losa on leased railroads .• 21.695 313,330 37,622 and 3¼ per cent on $2,128,600 common. Profit to lessee in 1883-84, Ba.lance ..•...•..•••..•••.. 1,186,396 1,175;485 2,910,305 3,344-:i:14 $161,990; 1884-85, $196,387; 1885-6, $215,219; 1886-7, $276,562; in 1887-8, $363,933: in 1888-89, $3'18,008. Gross earnings in 1888TotaJ .•••.••• .. •.•••..• 9,393,162 9,265.687 11,892,457 12,530,523 :89, $1,49tl,533; :cet, $661,266. Due lessees for advances, March 31, -(V. 46, p. 38, 132, 170, €09; V. 48, p. 15'7, 799.) '.89, $~ 25,U53. (V. 47, p. 708; V. 48, p. 127.) Delaware Lack a wanna & Western.-(SeeMap).-Thia company Dayton & Unlon.-Owns from Dodson, Ohio, to Union Cicy, Ind., op erates under lease ~n extended system of roads in New York, Penn• :32 miles; leases Dayton to Dodson, 15 miles; total opeiated, i7 miles, sylvania and New Jersey. Owns from Delaware River (N. J. line) to New The GreenVllle & Miami RR. was sold out Oct. 30, 1862, :1,nd re-organ· York State line. 115 miles; branchea-3cranton to Northumberland, ized as now Jan. 19, 1863. Operated by trustees since Dec. 23, 1871, 80 miles; Greenville to Winton, Pa., 8 miles; to Storrs, 3 miles; Junction .all surplus earnin1-;a over interest going to a sinkin•"' fund for the to Keyser Valley, Pa., 5 miles; leased lines in New York-N. Y. Lack. & redemption of bonds at not above 100. Capital stock, $86,300; par, $50. Western RR., 214 miles; Cayuga. & Susquehanna RR., 34 miles; In year ending Oct. 31, 18~8. gross earning!", $155,93'1; ntt, $58,123; Greene RR. 8 miles; Oswego & Syracuse Railroad, 35 miles; Utica .surplus over charget1, $18,065. Chenan~o & Susquehanna Valley RR., 97 miles; Valley RR., 12 miles; Dayton & Western.-Owna from Dayton, 0., to State Line, Ind., controlled and operated-Syracuse Binghamton & New York, 81 miles; 37 miles, and leases 4 miles to Richmonrl, Ind. Leased from Jan. 1, leased lines in New Jersey-Chester RR., lOmiles; Morris & Essex, 118 1865, for 99 years, renewable forever, to Little Miami, and carried with miles; Newark & Bloomfield, 4 miles; Warren RR., 18 miles; Sussex, 30 that road in the general lease to the P. C. & St. L. The lessees are miles; Passaic & Del., 14; total operated, 889 miles. The Dela.ware Lackawanna & Weste1n formerly paid 10 per cent on its virtual owners and are answerable for all obligations. Of above bonds stock, but in the du.ll times 1876 to 1880 no dividends were paid; in $3i,ooo are 7s. Decatur Chesapeake & New- Orleans.-Projected from Deca- l880 3 yer cent was paid; in 1881, 6 l\i; in 1882, 1883, and 1884, 8; in tur. Ala., to Gallatin or Naehville, Tenn .• of which 34 miles from l885, 71\i; from 1886 to 1889 lo.elusive, 7; in 1890, Jan. 20, 11\i. 1 Prices of stock yearly since 1870 have been: 1871, 102'@111-½l; 1872, labama State linti northward are completed and 30 miles to D f catnr, .Ala., and 14 miles to Shelbyvllle, Tenn., are about t :, be tmilt. Mort• 9l'@li.2lg; 1873, 79½l-Wl06; 18i4, 99@11238; 1875, 10619@123; 1876, .- gage is for $3,000,000. American Loan & Trust Company, trustee. 64½1@12038; 1877, 307a-w77; 1878, 41@61 7a; 1879, 43@94; 1880, 68:J.g '@11014; 1881, 107'@131; 1882, 11614'@15014; 1883, 111¼'@131¼; 1884, .f!tcck authorized !f3,0C0,000-$20,000 per mile. (V. 49, p. 760.) 86~-Wl33ls; in 181'5, 82:SS-wl29:ls; in 1886, 115@144; in 18s:i7, 12318@ Delaw-are.-Owna from Delaware Junction (P. W. & B.), Del., to l391i; in 1888, 123¼@14518; in 1889, 13'1:ls'<Jl51; in 1890 to Jan. 17, Delmar (Md. Line), 84 miles; branches, 16 miles; total operated, 100 inclusive, 134½)11, 13838, miles. The Dorchester & Delaware and Queen Anne & K. railroads The report for 1887 was in CHRONICLE, v. 48, p. 126 now operated by P. W. & B. RR. The Delaware Railroad was opened EARNINGS AND EXPENSES. 1855-60, and is leased for 21 years from 1876 to the P. W. & B. Co. ; rental 30 per cent of gross earnings, but stock must have 6 per 1885. 1886. 1887. 1888. cent. Ir the 30 per cent is more than sufficient to pay charges and 6 $ $ $ $ per cent dividend, the residue goes to lef see for advances (if any), Gross rec'ts all sources •. 31,091,677 32,3-i2,865 39,845,857 43,232,422 .and any balance is divided equally tetween lessee and lessor. Operating expenses ..• . . 23,220,572 24,954,433 30,694,000 33,546,135 ,In year ending Oct. 31, 1888, gross earnings were $918,470; net, Betterments, equip., &o.. 443,182 164,029 810,061 967,605 ;$275,541; interest and dividends, $131,637; surplus, $143,904.. Delaware & Bound Brook.-Owna from Bound Brook (Cent Total expenses .••...••• 23,663,754 25,118,4.62 31,504,061 34,513,740 ot New Jersey) to Delaware River, 27 miles; branch, main line to Net receipts.............. 7,427,923 7,224,-103 8,341,796 8,718,682 Trenton, 4 miles; total operated, 31 miles. In connection with Central INCOl\lE ACCOUNT. of .New Jersey_: and North Pennsylvania forms a line between New · York and Philadelphia. In May, 1879, the property was leased for 1885. 1886. 1887. 1888. 990 years to the Philadelphia & Reading Railroad Company-the lessee Net receipts.............. 7,427,923 7,224,403 8,341,796 8,718,682 paying interest and 8 per cent on stock after May, 1883. Gross earnings Interest and rentals..... 5,187,089 5,186,711 5,203,419 5,218,419 Jn 1887, $764,566; net, $407,159; surplus to lessee, $149,2 i 9. Deiaw-are & Hudson.-(See Map). The Del. & Hud. Canal Co. was . Balance, surplus......... 2,24.0,83i 2,037,692 3,138,377 3,500,26:3 ,rohartered April 7, 1823, and the canal from Rondout, N. Y., to Hones- Dividends................ 1,965,000 1,834,000 1,83!,000 1,834,000 •dale, Pa., 108 miles. was completed in 1828. The t!Ompany owns 200 Rate of dividends • . • • . . . 7¼ ·7 7 7 ,miles of railroad in Pennayh'ania and New York, and leases a number - -··· -or lines, makh1g the to~al owned and controlled 73(? miles, bu~ only Balance after dividends. -275,834 203,692 1,304,377 1,666,263 686 miles are operated m the D, & H. system, as 44 miles of leased roads -(V. 47, p. 161, 594, 77f; V. 48, p. 126, 190; V. 49, p. 174, 617, 789.) are sublet. The stock was increased to $30,000,000 to pay off the bonds due in Delaw-are lliaryland & Vlrglnla.-Road extends from Harring-• 1884 and 1891. The remaining $5,500,00Q in treasury will be issued in ton to Rehoboth, Del., 44 miles; Georgetown to Franklin City, Va., 54 1891, to take up an equal amount of 7 per cent bonds. miles; total, 98 miles. In July, 1885, the company passed into control The annual report for 1887 in V. 46, p. 132 and 170, had the following: of the Phila. Wil. & Balt. RR. and became part of the Penn. RR. "Ille managers•• propose to approp1iate, from time to time, from the sur system. In year ending Oct. 31, 1883, gross earnings were $l97,107; ·plus or di\ idend fund, -amounts not to exceed in the aggregate twenty- net, $25,668; deficit under interest, $24,332, against $38,853 in 1885-7 • . :five (25) p er cent of the five millions five hundred thousand ($5 ,500,00'0) Delaware & New England.-Thls company owns $-i,250,000 of ,,dollars of l.Jonda to be retired durin g the year 1891, a ,1 d to credit such the Poughkeepsiti Bridge Co. stock, $1,600,000 of the Cenappropriations sa cash payments on the stock to be issued therefore to tral $5,000,000 New England & Western (whole issue) and $900,000 Hartford & stockholders or record at the time when notice is given 01 their right to Western, on which it has authorized its collateral tru.st bonds, ~su.bacribe." 'l'his proposition was submitted to stockholders at the an- Conn. as above. Stock, :P7,500,000, held by trustees to preserve unity of . nual meeting in ~1ay, and approved by them. 'Dividends have been paid as follows from 1881, when they were Rystem. Pres1de~t, J. W. Brock, Pliiladelphia. (V. 49, p. 82, 654.) 1 resumed: In 1881, 4½1; 1n lb 82, 7 ; in 18 ~3, 7; in 1884, 7; in 18e5, 6; Denver & Kio Grande (3 Ceet.).-(See Map)-Owna from Denver . in 1886 and 1887, 5; in 1888, 6; in 1889 to date, 514. Range of stock City, Oolorado, via Pueblo, Salida, Gunnison, Montrose and Grand _prices since 1882 Jiaa been: In 1883, 102½l-w112la; io. 1884, 67@114; Junction, to the western boundary of Colorado, where it connects 'in 1885, 66½l1HOO¼; in 1886, 871411il08¼; in 1 887, 96½)'@106½1: in with the Rio Grande Western to Salt Lake City and Ogden. '.88, H 3 a>134; in '89, 130@156; in '90 to Jao. 17, inclusive, 147@15314. Branches run to Leadville, Dillon, Rifle Creek, Crested Butte, Silver Report for 1888 was in CHRONICLE, v. 48, p. 157. Cliff, Chaffee, Aspen, Ouray and Hot Springs; also from Pueblo to PROFIT AND LOSS. Silverton, via Cuchara, Alamosa. and Durango, with branches to El 1885. 1886. 1887. 1888. Moro, EApanola., Del Norte and Wagon Wheel Gap; total J an., 1889, $ $ $ $ Reeeipts1467m. The standard gauge and road with third rail (completed and Bales of coal .••..••.....••. 7,201,049 7,399,095 10,100,118 10,604,465 under construction) embraces a good part of themifoage~ 54,551 58,410 66,505 56,67c CanaJ. tolls ...........•..••• The former D. & R. G. Railway was foreclosed under tue old consoli792,716 633,867 :395,001 496,217 dated mortgage, July 12, 1806, and reorganization was made under the Int. on invest. & miscell .. 649,905 332,653 183,6!:t7 201,291:1 title of Denver & Rio Grande R ailroad Co. Coal on hand (Dec. 31) .••• 694,941 841,662 1,147,134 1,041,756 Railroad earn'gs in Penn. Of t he consol. gold bds. (U. S. Tr. Co., trustee) $6,382,500 were re.Profit on leased lines .••.. --· · ··-· ··- ·· ··· ·····••· 130,111 served to retire the old bonds whf\n due. The preferred stockbolders Total.... • • • • • • • • •• • • • • 9,393,162 9,265,687 11,892,457 12,530,522 have the right till 1891 to elect two-thirds of the directors, unlel!ls divi- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -------- - - - - --------- INVESTORS' SUP7:>LEMENT. ff4 M AP OF THE DENVER & RIO GRANDE ·RAILROA D https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis [VOL. L. "t, Maninnas 0 t--, o..lntdope Springs \>-- C, ~ - ,, ...... --- O)o illeRtera \) -♦Lavo Trt11c1u·m () SaULaks ae 1os Pusru, ~ \J ,...,, t>:l d i 'i ~-~· 0 1.' cf • ~ (l\)~'(\ COMPRISING THE DENVER, TEXAS & CULF, DENVER, TEXAS & FORT WORTH, FORT WORTH & DENVER CITY, GJ.J.li;yma https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. 36 [VOL, L. Subscribers will conCer a l.[reat :ravor by giving Immediate notice oC any error dlsco"l'ered In these Tables. : Bonds-PrinolINTEREST OR DIVIDENDS. Miles Date Size, or pal, When Due_ A.mount of For explanation of column headings, &c., see notes of Par Rate rer When Where Payable, and by Stocks-Last Outstanding on :first page of tables. Road. Bowla Value. Oen . Payable Whom. Dividend, DESCRIPTION. De"eaware Lackawanna il Western-Stock ..•...•.•• . -·-- --- 889 Consol. mort., on roads & equipm't, ($10,000,000) 288 Plain bonds 1not mortgage) convertible ...... ...•. Del. Ma,•yland cl: Va.-Junc. & B.-lst M. to State .. "44 Juno . & Breakwater, 2d mortgage .•••.......... c" 4.4 Breakwater & Frankford, 1st mort., to State .. ... 19 Worcester RR., lstM. (s.f. not in operat'n) gold, c' 35 Delaware cl: New Eng.-Collat.Trusttlor$2,000,000) Den'Der cl: Rio et·ande-Stock ($45,500,000) .. ....••. 1,467 Pref. stock, 5 per ct.. non-cum. ($28,000,000) .... 1,467 1st mort., gold, sinking fund .......•.....•... c"&r Consol. mortgage, gold (for $42,000,000) .... c'&r Improvement mortgage ($5,000 permile) g .. c·&r 1,468 Den'D, Tex. cl: Ft. Worth-lat M. ($20,000 p.m.)gold.c* 165 Den'Der Texas cl: Gulf-lat M. ($20,000 p. m.) ..... c&r 138 Des Moines cl: Ft. Dodge-lat mort., coup., guar .. ... 88 1st mort., incom9, guaranteed by C. R. I. & P ·. c&r 88 56 Mortgage on extension, guaranteed ba C. R. 1. & P. 218 Detroit Bay Oity cl: .Atp.-lst mort., gol .. • , ....... c* Detroit Grand Haven cl: Mil,-lst eq tui;>. m., guar ... c* 189 Consol. mort., ~ar. by Grand Trunk of Can ..•.. c* 189 65 Det. Hillsdale cl: • W.-Stock, 4. % rental, L.S.& M.8. Detroit Lansing cl: North.-St,o ck, common . ••....••. 323 Preferred stock .. .•.....•.•..•........•......••..•. . 323 Consol. mort~age (1st mort. on 163 miles) ...... c* 222 Ionia & Lansmg, 1st M., extended in 1889 ...••. c* 59 43 Saginaw & West. 1st M., endorsed, gold ......... c" 55 1st M.,Gr.R.L. & D., 1st. $20,000 p.m.,endorsed.c • lJubuque fl Si<Y!J,X Oity-Stock.••...•..••...•....•... 524 43 1st morti;tage, 2d division ..•...•...• . ..•.....•..••. Gen. M. for $3,000,000 held by Ill. 0'1, g .... . . c&r 143 Iowa Falls & Sioux (.,1ty, 1st M. Ia.F. to S.City . .. 184 1.468 i877 1872 1860 1879 1873 1876 1889 .... is1i 1886 1888 1887 1887 1874 1874 1881 1883 1878 1878 ---· ..... i877 1869 1883 1887 i864 1888 1869 ,5o $26,200,000 3,074,000 600,000 1:000 400;000 250,000 1:000 200,000 500&c. 400,000 1,000 (1) 100 38,000,000 100 23,650,000 500&c. 6,382,500 500&c . 27,029,000 500 3 ,000,000 1,000 4,500,000 1,000&c 3,000.000 1,000 1,200,000 1 ,000 1,~~~gg 1 ,000 1,000 2,500,000 1,000 2,000,000 200 &c. 3,200,000 100 1,350,000 100 1,825,600 2,510,000 100 500 &c. 2,672,000 1,000 770,000 1,000 566,000 1,000 1,108,000 100 8,000,000 500 &c. 586,000 1,084,000 500&c. 2,339,500 - -1¾7 7 4 4 4 t Q.-J. N. Y., 26 Exchange Pl. Jan. 20, 1890M. & S. do do Sept. 1, 1907 J. &D. do do June 1 , 189Z J. & J. Phlla.. 233 So.Fourth St (i) F. & A. do do Feb, 1899 J. & J. do do Jan, 1898 · do do April, 1896 g. A. & 0. .... Philadelphia Office. 18n-1999 ""i¼ 7 4 5 5 ~ ---· g. g. g. g. g. 2¼ 4 6 g. 6 6 · 2 3 3¼ 7 5 g. g . ... M:&·N. J. &. J. J. &D. M.&N. A. J. J. J. .J. A. A. J. F. F. & O. & J. & J. & J. & J. & 0. & O. & J. &A. &A. J. & J. .J. & J . J. & J. M, &8. ¼ J ..&.J. 7 5 g. J. &D. 7 A. & O. o'fflce, 4-i'°Wm:·st., N.Y. N. Y., 4th National .Jl.k:. do do do do N. Y., Mercantile Tr.Co. do do N.Y.,Chic. R.I.& P~c.Oo do do do do N. Y., Farm. L.& Tr. Co NYA~Can.Bk.Com&Lo o do N. Y., Farm. L. & Tr. Co "Boston. Boston, 26 Sears Bldg. Boston, 2d Nat. Bank, do do do do do do N.Y.,Offlce,216 B'dway. do do do do N.Y., Park B.ir. B'lding. r, , dends are paid out of net earnings for two full years on the preferri>'1 stock, after which the directors shall be chosen by all the 1;1tockholders. See abstract of consolidated mort. in CHRONICLE, V. 47, p. 228. InJUDe, 1888,the improvement mortgage for $5,000 per milewas issued for laving third rail and other improvements; trustee, U. S. Trust Co. (See mortgaire abstract in CHRONICLE, V. 47, p . 229.J - In August, 1E89, the Rio Grande Junction Railway was organized in the interest of this company and the Volorado Midland, to build 64 miles from Rifle Creek to Grand Junetion, Col., and form a through connection to Ogdeuover the Rio Grande Western. Dividends on pref stock llave been: In 1887, 212 pel' cent; in 1888, 212 per cPnt in cai,h and 114 in scrip, subsequently redeemed in cash; in 1889, nil; Feb. 1890, 114, The rang~ nl stock prices since reorganization has been: Common In 1886, 14¾@35~ (assessm't paid); in 1887, 20½?b32~; in 1888, 15'@23; in 1889, 14~@18¼; in 1890 to J an. 17, inclusive, 16¼1l17. Preferred in 1886. 53lli@637e; in 1887, 52 7s1l!683s; in 1888, 4314@55¾; in 1889, 4214@527s; in 1890 to Jan. 17, inclusive, 4.8@51. From Jan. 1 to Nov. 30, 1889 (11 mos.), gross earnings were $7,348,886, ae;ainst $7,053,326 in 1888; net. $3,048,106, against $2,337,595. Report 1'or 1888 in CHRONICLE V. 48, pp. 555 and 560, and statement to stcckholders of Jan. 16, 1890, on declaration of dividend, issue of Jan . 18, p. vii of advertisements. Earnings ant'\ income account for thl'ee years were as follows: *1886. 1887. 1888. Gross earnings.. ................ $6,738,077 $7,983,419 $7,668,654 Net earnings..................... $1,552,035 $3,241,372 $2,563,972 Other receipts................... 15,671 41,997 Feb:·20:·i890Nov. 1900 Jan. 1, 193ff June 1928 Nov. 1, 1937 April 1, 1937' Jan. 1, 1905·· June 1, 1905• June 1, 1905 Jan. 1, 1913; Nov. 14, 1918Nov.15,1918 Jan.5,1890 Feb. 15, 1887' Feb. 15, 1888, Jan. 1, 1907 July 1, 1899' July 1, 1913 Sept. 1, 1927 De<.'. 31, 1888· July, 1894 June 1, 193~ Oct. 1, 191'l 1, 1, IMich., Detroit Grand Haven & Mllwauk.ee.-Owns from Detroit.to Grand Haven, Mich., 189 miles. This is a reorganization o:I the Detroit & Milwaukee which was sold in foreclosure Sept., 1878. The bonds are guaranteed by the Grand Trunk of Canada, which,, ,in 1889 offered its 4 per cent debenture stock in exchange for them,. $500 (£100) bond for £118 stock. Stock $1,500,000; par $50. From ,Tan. 1 to• Nov. 30, 1889 (11 months), gross e a,rnings were £200,361,.. a~ainst £210,356 tn 1888; net, £47,927, against £51,440. Gross earnlogs in 1888,, $1,111,794; net, $271,815; def. under interest, $65,409. In 1887, gross, $1,194,309; net, $323,771; surplus over fixed charges,. $74. Detroit Hillsdale & Southwestern.-Owns from Ypsilanti,. Mich., to Bankers, Mich., 65 miles. The Det. H. & Ind. road was sold, in foreclosure Jan. 28, 1875, and this comrany organized by the bollll holders. Leased in perpetuity from July 1, 1881, to the Lake Shore &: Mich. Southern Co.; the rental is $54,000 per year-4 p. ct. Detroit Lansing & N orthern.-Owns from Grand Trunk June., Mich., to Howard City, Mich., 157 miles; branches-Stanton June. to Big Rapids, Mich., 63 miles; Belding Branch, 112 miles; total owned·,. 222 miles. Leases: Grand Trunk June. to Detroit, 3 miles; Lansing to No. Lansing, 1 mile; Sagmaw & West. RR.-Alma to Howard City, 43 miles; Gr. Rap. L. & Det. RR.-Grand Rapids to Grand Ledge, 53 miles, and Oakdale Park to Reed's Lake 2 m.; total operated, 323 miles The Detroit Lansinl? & Lake Mich. was foreclosed in 1876 and this company formed. ,Dividends since 1876 have been: On common stock in 1880, 6; in 1883, 6; in 1884, 6; in 1887, 3; in 1888 and 18f9, nil. On preferred stock in 1879, 9½ per cent; from 1880 to 1884, inclus., 7 per cent; in 1885, 5½; in 1886, 812; in 1887, 7; in 1888, 3¼: in 1 88 9, nil. In 1888 gross earnings were $1,041,800; net, $321,lti9; charges, $310,Total. ....•••••••••••••...•••• $1, 567,706 $3,283,369 $2,563,972 546; balance, $10,623, against $177,349 in 1887. Report for 1888 in Disb-ursements$674,987 $1,405,775 $1,492,615 CHRONICLE, V. 48, p. 525, (V. 46, p. 171, '1'10; V, 47, p. 21; V, 48, p.. I nterest on bonds .••...•..•..•••. 189,525,827; V. 49, p, 173.) 1,182,500 295, 625 Dividend on preferred stock.... . 345.550 290,93~ Taxes and in1:mrance ............ . Dubuque & Sioux City-Owns from Dubuque, Iowa, to Iowa 250,524 240,906 Bettei'ments ...•••..••.•••.•..••• ··2·,s·io 16,609 40,551 Falls, 143 miles; Iowa Falls to Sioux City, 184 miles; Manchester to, Miscellaneous .••..•.••..••.•....• Cedar Rapids, 42 miles; Onawa, Ia., to Sioux Falls, Dak., 155 miles; Total.·........................ $908,857 $3,146,341 $2,115,247 total 524 miles, Also leases Cedar Falls & Minnesota, 76 miles. In April, 1887, a controlling interest in the stock was sold to Ill. Cent. Surplus........................... $658,849 $137,028 $148,725 A suit to annul the Cedar Falls & Minn. RR. lease is pending. In Oct., 1888, the stock was increased from $5,000,000 to $S,OOO,OOO, * This account is from July 12 to Dec. 31 only[in 1886. in order t o absorb the Iowa Falls & Sioux City, Ced. Ra"l. & Chic and -(V. 47, p, 22~, 38i. 442,801; V. 48, p. 398.544,555, 560,763,854 Cher. & Dak. RRs .• See V. 47, p. 440. Ill. Cent.- owns $7,897,300 stock V. 49, p. 206, 470. 471, 718; V. 50, p. 106.> and all the 5 per cts. (V. 46,p. 38,448; Y. 47, p. 440; 4.8, p. 489.) 2·su(ro --------- v. Denver· Texas & Fort Worth.-(See Map.)-Operates "Pan Handle" route from Denver, Col., to Fort Worth, Tex., 804 miles, with brancbes 77 miles; opened for business in March, 1888. Of this it o-wns from Trinidad, Col., to Texas _State line, 126 m ., (and branches 23 m.), uses third rail over the Denver & Rio Grande from PueblotoTrinidad, 91 m. (and br., 11 m.) , and eontrolstheDen. Tex. & Gulf, Denver, Col., to Pueblo, 126m.,and the FortW. &Den. City, Texas State line to Fo1t Worth. Texas, 450 m., and br. 16 m. A consolidation of this road with 1:,everal Union Pacific lines is about completed, name of new company to be UnioD Pacific D enver & Gulf.-(See V. 50, p. 37.) The company'li outstanding stock ($30,000,000 authorized) is $!8,000.000 (lJ a r $100) and a large majority of it is deposited in trust with the Mercantile Tr. Co. to be voted on as a committee of nine stockhold· era shall din ct. There are also $248,000 equipment trust 5 per cent bond s due in ten years. G. M. Dodge, President, No. 1 Broadway, N. Y. -(V. 46, p. 413,573, '10'7; V. 47, p. 256,285,802; V. 48, p. 37, 67, 70; v. 49, p. 51,402, 690; v. 50, p. 37.) Denver Texas & GulC.-(See Map of Den. Tex. tf: Ft. W.)-Denver to Pueblo, 126 miles. Stock ($3,260,000) all excha n ged for Den. Tex. & Fort Worth stock and road operated as its northern division. Extensive terminal grounds in D enver and coal lands at Francevillfl are covered by the first mortgage. Bonds are $.!0,000 per mile and $240,000 for terminals, &c.; the first coupon payable in cash is that of Oct., 1889, tbe tour prior coupons having received stock. Trustee of mortgage is Mercantile Tr. Co. (V. 46, p. 413; V. 47, p. 256, 802.) Des Moines & Fort Dodge.-Owns from Des Moines to Fort Dodge, Ia., 87 miles,with an extension 56 miles to Rutllven, con necting with Chic. Mil. & St. P aul. Common stock, $4,283,100; pref. $763,500. Leased from Jan. 1, 1887, to the Chicago Rock Island & Pacific, for 19 years at a rental of 30 per cent of the gross earnings, with a guarantee of 4 per cent interm,t on the 1st mortg. and extension bonds, and 212 p. c. per annum on the incomes, and road was delivered June 2, '87. In 1 887 and 1888 rental $104,880. Detroit Bay City & Alpena.-Owns from Alger, on Mich. Oent. RR., to Alpena, 105 miles; Loon Lake Branch, 24 m.; Mud Lake Branch, 20 milei,; other branches 78 miles; total road 227 miles. Has a traffic contract from Michigan Central. Stock authorized is $2,000,000, issued $1,670,000; par, $100. A dividend of 4 per cent was paid January 3, 1888. From Jan. l to Nov. 30 (11 mos.), in 1889 gross earns were $455,737, against$428,116 in 11388; net, $204,929, against$156,652. In 1888 gross earnings were $458.2,.,~: nAt. $160,432; surplus over charges, $10 ,432, aga:n~t ~73,tilfJ i ... lo87. ( V. 45, p . ti6; \. 4ti, 11, 7-1, 7 :.-, l &9; V. 48, 189. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Duluth & Iron Ran~e.-Owns Duluth to Ely, Minn., 118 mile8'. Sold to a syndicate in 1887, and above mortgage was authorized at the rate of $25,000 per mile for construction and $7,000 for equipment,. the Metropf'litan Trust Co. of N. Y. being trustee. There are also $3,500,000 of income certificates and the stock is $500,000.- There is a land grant from Minnesota of about 006,000 acres. The Minnesota Iron Co. owns the stock, the income certitlcates and $400,000 bonds. In 11 months ending Nov. 30, 1889, gross earnings were $1,002,816; net,. $436,474; interest and rentals, $206,587; balance, $229,888. In 1888 gross ea,rnings were $650,089; net, $271,055; surplus over charges and improvements, $42.464. H. R. Bishop, 15 Broad Street, N. Y., President. (Y, 45, p, 472; V, 4.6, p. 216,255,371; V . 48, p. 70; V. 50, :p. 71.) Duluth South Shore & Atlantic-(See Map).-Dulutb to Sault; Ste. Marie, 409 miles (of which 4.3 .miles from Duluth to Iron River is used in common with Northern Pacific, and 46 miles from Nestoria to Marquette is leased in perpetuity from Marquette Houghton & Ontonagon Railway); Soo Junction to St. Igna ce, 43 mlles, and M. H. & On. lines not included in above, 114 miles; total, 566 miles. At Sault Ste. Marie connectinn is made by bridge with the Canadian Pa.cifl.c, and with the Grand Trunk when it reaches the Sault. This company purcnased at Judicial sale Oct. 20, 1886, th~ Detroit Mackinac & MarquetteRailroad and property. Owns substantially all tlle pref. and common stocks of the Marquette Houghton & Onton. RR., 160 miles, which it leases in peroetuity. S ee abstract of :first mortgage, V. 45, p . 274. In July, 1888, a controllin~ interest in the D. 8. S. & A. s tock was sold to Canadian Paoitl.c parties. Pref. stock is 6 per cent, non•cum. The consol. mort. (trustee Cent. Tr. Co.) was issued in 1888 to provide f or extensions, equipment. etc., $4,000,000 being reserved for 1st mort. The earnings for 1888 were $1,468, 592 gross and$58~.794 net on the whole system. Deficit, after paying all charges, $79,837. (V. 46, P~ · 74, 320, 353, 537; V. 47, p. 50, 248, 708; V. 4.9, p. Zl.) · Dunkirk Allegheny Valle-r. & Pittsburg. -Owns from Dun• kirk, N. Y., to Titusville, Pa., 91 milee. A consolidation of the Dunkirk Warren & Pittsburg and Warren & V enango in 1872. Leased for 400 years from 1873 to N. Y. Cent. & Hud, River Co., but accounts are kept separate. Rental is interest on bonds. Capital, $1,300,000; par $100. The N. Y. Cent. & Hud. Riv. Co. holds $2,324,600 of the securities. In year ending Sept. 30, 1889, gross earns, $222,391; net income, $20,826. East Broad Top (Pa.)-Owns from Mount Union, Pa., to Robertsdale, Pa., 30 miles, and leases branch to Stair Mine, 7 miles; total. 37 miles. A coal road, opened in 1874. The stock is $815,602; par $50. In year ending Nov. 30, 1887, gross earnin11s were $117,379; net,. $21,483. In i8 E' 7 -f.'8, ~o~s, ~121,26l; net, $1~,195 DULUTH, SOUTH AND ATLANTIC RAILWAY AND MARQUITTE, HOUGHTON & ONTONAGON R. R, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis _ Leased in perpetuity- as INVESTORS' SUPPLEMENT. I VOL. L. 8nb9crlben 'Will eonter a great f'avor by gtvtng Immediate notice or any error dl8covered In th.et1e 'l'able•. DESCRIPTION. Por explanation of column headings, &c., see note on first page of tables. 1R,,ndH-Prlnctr:-rrERE!:3'r OR DfVIDENDS. Miles Date Size or pal.Wlum Due, Amount of of Par Outstanding Rate per When Where P~able, and by Sfock,.- Last Road. Bonds Value. Cent Paya.bit\ hom. Uivirlend. - - - - - ---------$4.511,000 A. &O. N. Y., Office, Mills Bldg. 5 Dtuuth ti Iron Range-lat mortga~e ..•...• ••.•. c&r 118 1887 l,00° &c $100 566 Dul. So. Shore ti .d.tl.-Stock ($LO,OOO,OOO is pref.) 1,0 o let mortgage, irold.............................. c&r 366 1,000 let oonSl•lidated M. gold, $20,000 p. m .. ..••. o•&r 1888 .. Dunkirk .Altegh. Val. ti Pittsourg-lst mort., gCJld.o 1,000 90 1870 2d. and 3d mortgages ($200,000 only a.re 3d m) .. o 1,000 90 · 1872 1,000 llut Broad Top.-lst mortiage . ••. .. .......••..•. r 30 1873 Mcui Pennsyt-r,ania-Stook, ~ gu. 999 yrs.,Phil.& R . 50 36 1,000 New lat mortgage ................................ o" 36 100 .#(ut Tennessee Virginia ti Georgia-Commo_ n stock. 1,648 100 lit preferred stock (5 per ct. non cum.) ........... 1,648 2djreferred stock (5 per ct. non cum. ) . .....•..... 1,648 01 lstm.s.f. (Bristol,Ter n.~iaCba.t.toD alton,GaJ 242 1:000 1,000 Cons. M.., "Divis'l" ~- (Bristol.Tenn •to Selma,Ala)o* 5 5 2 :i880 1,000 Oonsol. mort., gold (for $20,000,000) ... ... . ... c&r 1,083 1886 1,000 1st ext. M., g. ($20,010 p . m.)for $15.000.000. c&r 85 1887 Impr. and equip. mort. for $6,000,000, gold ... c&1· 1,083 l <'i 88 1,• 00 Ala. Central-let mortgage, guaranteed, op....... 1,000 95 1879 1,000 Knoxville & Ohio-1st mort., gold. guar ..... o•&r 66 1885 1,000 Bast ti Wt>-&t Ala. -let cons. M .• gd ($lfi,OOO p. m.) . o• 112 18t;6 100 Eastern (Mass.,-stook .... ... .. .. .................... 119 100 Preferred stock, 6 per cent, not cumU1ativ~ . . ...•. 119 isc,'i; 1851 100 &c. Essex RR.lat mort. (extend. for 5 yea.rs in '81>) .. o Certs. of indebt. 1st m. s .f.$100, 000 y'ly, not drn.o 1876 !JOO&c. 100 Eastern ( N.H.J-St'k, 419 p. o. ren'l till l l:J::J8. E. Mass. "i'6 100 Eel .Rit,er-Stock, 2 (to 3 p. c.), gua.r. by Wab. West . 94 1,000 .E~n Joliet {t Ea~tern-lst M. for $6 noo,ooo g . . <,.. 98 iss8 1,0 ,o ardner Coal CJity & N. let Vf. for$ t ,oo u,000 ,r.c+ 32 1889 1,000 .Blizabeth. Lex. ti Big Sandy-lat m .• ~ .•s. f., not dr.o* 110 1872 1,1100 .Blmira OorUand ti Nm·thern-lst pref. M., i;rolt1.. o* 1,000 1st mort., gold, intuest 5 per cent after 18o9 .••. 120 1884 .. Debentures ......................................... .... 188i 100 . ... Mtmira, ~ Lake Ontario-Stock ........ . ........... 100 -- iR87 isss ··-· .... is10 ---· ---· 1201 •••• 22,000,000 4.000,000 4,000.00•> 2,000,000 1,200,000 500,000 1,714.950 495,000 27;500,000 11.000,000 18.500,000 3,123.000 3.106,000 12,770,00 I 1,700,00 \ a,c ·oo,ooo 1,000,000 2,000,000 1,12:;,ooo 4,997,600 3,14}},600 194.400 9,204, ' 20 492,500 2.792,ROU 3,417.000 7fl0,000 3,282,000 750,000 1,250,000 4 18,':>89 1,!"i00,000 ..5.g. J. .&.J. N. Y.. c1iii.se Nat. Bank 5 Ii(. J. & D New York City. 7 g. J. & D. .S-.Y., N.Y. Cent. &Hud. A.. & o. do do 7 4 J. & J. Philadelp'a, Co.'s OtHc>e. .r. & J. Pllil., Phil. & Read. RR. 3 4 g. M. & 8. do do ·:,r ··,;· 5 f!. 5 IC. 5 C'. 5 ~6 I!, 6 e;. 6 g. 6 3 6 6 g. 214 1 5g 5 g. 6 g. -6 ~5 l(. 6 .... ---· Office, 10 Wall Street. J. 'J,,";r. N". Y., Chase Nat. Bank. J. & J . do do \1:. & N . do do .T. & ,, do do M. & S. do do I. & J. do do .r. & .r. Ito do J. & D. l,a~t pa;d nee.. 18',7. 80;:1ton. 0 1.Cau~ewaydt do do ~:Jts. rt • M.& 8 . <lo M:.~s. Rost.,Shaw'utl3k.&Lon. J. & n . Bo,-ton, by 'l'reasurer. \. & o . Boston, by Trea slll'er. N <1w Yor·k. !\I. &N. New York. J. & J.I \I[. & S. N . Y .. Mills Buildinf!. • \. & New York, 115 B'way . .T. & .1 do do A. & 0 do do 0.1 --- 01.lt. 1, 1937 Jao-·i·.--i937 Jun~ l. 1938 Juuo I, 1900 0<,t. 1, 1900 Jnt:v 1. 1903 Jnly, 1889 Mar. l, 1958 Nov:i5","i889 .Tniv"°i,..foOO Jul.v l, 1930 Nov. 1. 1956 J un~ 1. 1937 S 11t. l, 1938 Jni.v l. L918 July 1, 1925 J>eo. 1. 1926 De,1. 16, 1889 Stwt. 1, 1889 8t,i1t. 15, 1891 Sept. l. 1906 Ju, ,e 15. 1889 OcG. 5. 1R89 Nov. 1, Hl3fJ J a n. 1, 1937. Mar. t, 1!)02 April 1, 1914 Apl"il 1. mu Aplil '.!, 1918 ..... .... . .. ~.. . ..... . It Ea■t PennBylvanla.-Owns double track from Reading, Pa., to the basis ·or comhining the totaJ Parnings, paying all char!!PB, and . Allentown, Pa., a6 miles. Leased for 999 years from May 1, 1869. to tlle 1iividing tht> surplm~ iuc>ome aR follows : 1. To B. & .~ .. -t;63tt,UOO (9 per Phila. & Reading RR., at a rental of 6 per cent per annum on the stoek <'"'nt on its stock); 2. ·ra Ea.Ntem . $100.000 for sinkmg rund: :{. l'o B. and interest on the bonds. Above bor.ds were issued to retire tllvBt, & M •• :G70,000: 4. To East-t,rn. i-336.0t,o ; balance to be sp,..11 t hv lPBBee on both properties J•ro-rata. A c>on11,•lit1ation is proposert. 1SeAY. 49, p. dv.e ln 1888. Austill Corbm, :rrea't, Philadelphia.. ( V. 46, p. 173.) 57-~.I Mortgage .uott;ll tQr ,(>i5 1!:$00 ~ d outstanding, securtld by real Ba•t Te:iitt~Hee Vtr~nta & Geor:da Railway.-(S~ Map,)- estate. OwnR $1.8 t 1.5"0 M flilne Central stJok and $551,300 stock Portsmouth, Owns: Bristol to C,'hattanooga, Tenn., 242 wiles: Morrtatown to Unaka, 44 · m.; Cleveland to Selma, 264 m.; Selma to Lauderdale. 95 m.: Ooltewab Gr.-at Fall1:1 & Conway. Divirleurls n,i,ve bet'n: On oommon-In 1887. 4½; in 1888, nil; in t,o Cohutta, 11 m.: Rome, Ga., to Macon. 159 m. (18 miles jointly with Georgia Pactllc); Macon to Brunswick. 190 m.: Cochran to Hawkins- 188 •, 6: on pre 'erred-ln 18-57, ltS88 and 1889, 6. Fiscal ye!lr eu ls 8ept. 3o; tl:te r esult l)f optwa.tion with Boston & vme. 10 m.; total, 1,015 m. ; operates Lauderdale to Meridian. 18 w : ·wa1dens Ridge RR .. K 1-atWey to Clinton T enn .. 30 ru.: Tenn. Val. b1·.• 4 Maille in l 88 3-89 gave 1mr11l11R in,·0111e tn Ea.1:1tern applica t1 le to divm.; total owned and operated Juue 30, '89, 1,() 67 m. Leases the Knoxv. 1 lt·mts of $ .JJ6,000. In 18 -7-88 at, er B. & M. had reodve l itR share & Ohio road, 66 miles, and controls the lines of the Mem. & Chari. RR., there was nothing lefL tor the EJ.:ote. n Oo1Uruon stock. ( V. 4U, p. 21, from Chattanooga to Mem}lhis, Tenn .. 3111 m., and the Florence an<l 57:1.) Somerville branches, 20 m .• thA Mobile & Birmln,2 ham, 150, in all 546 Ea•tern (N. H.)-0wns from Portsmouth, N. H., to Seabrook m ., making a total of 1 ,613 miles. Purchased ~iuce June 30, lb89, (Mas~a.cllu~etts State Line), 16 miles. It was formerly leased for 99 Knox. & AU/l. 6 m., and branon to Saval!e Cl'nk, Ala-.• 19 m. years to the Eastern (Mass.) Railroad. and a new lea..'!e was made from This com}.lany, theE. T. Va. &Ga. Rai!wu11 Co., was formed in 1886 as auccessor of the E.T. Va. & Ga. Railroad, which was sold in roreclos 11rt, Oct. 1, 1878, for 60 ye:;i.rs and two months at $22,500 per year, equal t,o 4-½1 p.ot.per annmn . .M. Currier, .Pres. , Manchester, N. H. May 25, 1886. The first preft:rr, d stock is entitled to a. non-cuwula Li ve dividend of 5 per cent. Eel Kiver.-0wns from LoS?ansport., Ind., to Butler, Tnll .• 94 In Jauuary, 1887, a ea.le was mane o f $8,500,000 or the first pref. miles. TWs was formerly the Detroit Eel River & IlHunis Ra.Broad. ■tock to the Ri«-hmond & West Point Ter1111nal Company t,h us givi JI{ sold under foreclo1mre Juiy 6. 1877 LAa~ed for 99 year~ from Ap ril 1, them control of the road for ttve vea.r s unless dlvi •end--< of 5 per <•~r;t 1887, renewable ror .. ver, to Wabash We;itern. on the b;,Ai • or t per cent were 1,aid on pref. stock for two y'earR. The~e d ,videuds were .,aid in yearl y 110 the i-toek till A11ril, 1>39 . • ttum 219 tiU 1895 and 3 p. c. liher& 1888 and l!l89, l:illd control is now shared equally by all c iasile" o r atter-thts tu be p u.id on ;t;J,000,0vO EJLOCk, 1tock. 'lhe Ki,·h. & W. P. TPrw. p 11Tcliased :H .9~3.:.WO ad litiontt.l r1r, t preferred s •ock in 1E89. Of the total 1-to, k l-S8 ,423 ,200 lat prtt.) . Elgin .Joltet & lhste-rn.-Owns from Sorl.u1'tln!?, m., (1 miles owned by the Termin11l Co .. $fi,OOO,UOO of 1t iii depoi:,ited as part ea.8b o f El.du> v ia Joliet, to Mu Ooo !, •·i\J m., and br,.nc11 tn No ·m •ntown, 1ecurity for its collateral tr·:ist or 18 -- 7. 9 m .: a.u I ope rates tlJ.e Gi,rctuer Coal f}1tv & Northern RR.-W tlker to The Knox. & Ohio was lea -ed 1'or 99 years from 1889 and its bonded r·o ~t,-r. ill.- 2 m .; tota•, 13, 111Ue ➔• E'Cten~ious pr,1J s ot,1,l. 'L'ul,1 is a int1-rest guaranteed by the r1-ntal. helt line ou :t lat'lo('e so tl.. , m o:'lsii1 ~. or iutende t to oro •I', a t a, rli:1t>1,nce or Tlle trustee under the <·onsolidat.t>d mortg11ire of 1',86 and the 1st ex- i-thout 30 milf'S tro,u Cbii-a!!o, all th e r/)a•1~ appr,uwhin< th tt 11itv-, and t.ension mortga1?e or 1887 is the Ceutr·al 1.'1 u ,-t Company of l\ew Y 01·k. a1fi1rdinufaci itif'i. for transfer of freight rr ,moue line to a,nother without f7 ,325.000 consolidated bond~ were reserved to r .- tire prior bond;:1 of breakini? bulk. Tile l¾ar. Co.Ml C.ty & '1'ortll'n rda.o iies ths co ti tl"'l:ls of tbe Alab11ma Central RR. and the E. Tenn. Va. & Ga. RR. Grunily Co. The ftr;zt m ,>1·t. (tm ~tees Urli,,u Ti-nst C". an l J. W. B11t ler) The mortgage of 1888 ror $6,000,0UO. covering all th~ compan y's pr,,vJd,.R for it!o,O vo,,,oo b ,mus at :6 10.0l>J p ,:1r mi1e for sm~le track, prope11y (Ceutral Tr. <.:o., trustet ), provided for new equipwent, im- $10,uuo per mile a ·1ilitlon ~, fol' t:\e ,, ,nu t ,·,rn4.'., a.ud a. f ,1rtt1er -ii ,.ouo per provements, etc. wile f<Jr nitt.l esta.te, &c . .Pre~illent, :::amuel S_ptmoer, Ne\V :iork. Divid1-nrlR have been: On lstpref, stock in :887, 4 per cent; in 1 E88, 5, and in H89. 5. Elizabethtown Lexington & Big Sandy.-Owns Lexlnirton Ra.n~e of prices of new stock bas been as follows: f'ommon, in 1896. Ky., to J unc:tion, near Deutou, 10:l w.: A. C. & L. Junction to Bi~ Sandy llal87s;inl887,91s@17;inl81::8.8itll¼in 18':l l-',8l,i@illg: in 18\aO River. 7 m.; total owned 109 miles. LeaseN Jllllctiou with A. C. & l Co., to J,m. 17, inclusive, 914@~!\i: l11t 1•ref.,in 1886, 670830,..; in 1887. nt>ar Denton to A . C. & I. Juno., 21 miles West Side Bi~ Saucly River to 62@8:.!1i>,;i111888,55@83; in 1889,ti3m7.-. ~; in 1890 to J 1rn. 17, in- Huntin11;ton, 9 miles; total operated, 139 miles. From Ft,t,. l, 1886, clusive. 67@i0; 2d pref.. in b8o, 24'al3fil\i; in 1fl87, 18@::i2: in 1,..8 .. , this road was lt'ased 1"or 250 years t ,, the NeWl)6rt Ne.vs & Miss. 17:J,e@27½; in 1889, 20@2514; fn 1~1:10 to Jun. 17, inoluslv.-, 20!\i@2t lg. ValJey Co. on th~ basis or paying thd annucil net surplu,1. tr auv, to Fi-om July 1, 1889, tu Oct. 31, 1889 (4 :no,. ~ross t'arninizs (1ul'lud- this comriany. Stock, $3,569,169; pa.r $ LUO. ·r!.lere are also $1 9 .520 blg Knoxville & Ohio) were !f2,268,167, against $1,945,063 in 18tr;-~; certitto..te,i or in<tebredoess. l::iu , iug f ,m<t. is $-&5,000 yearlv. hut no :net. $951,604, against $67ti,040. · ttonds drawn. From JHn. 1 to 01.lt 31 (tO mns.) grosR t111rulugs were The fiscal year ends June 30. The annual report for 1888-89 was :;ia .. 3,508 in 18t;~. against :t:8Jl.~ ! 6 1,1 1 1:!88: net, $2 :27.0a7, airatnst pnblls"bed in the CHRONICLE. V. 49. p. 46U. The results do not include $"l66.10l. For year 18h8 ~roes eamings wel'e $1,00i;,6t;9; uet. $:l92,ibe ope1a.tions of the KnoxVJlle & Ohio. 88ti;•urplus over tl.xed charge<', $26,.)ul. In 1887 l(ro-s e a.r11t11i;r" were $1.115,073; net, $:-l7~.854: surplus over rE>ntals and inttr~st, $160,953. INCOMB ACCOUNT. -(V. 4.6, p. "'t:9, 41Z, 397; V. 48, p. 8~7.) 1886-87. Rueipf.. 1887-88. 1888-89. Elmira Cortland & Nortbern.-Elmira. N. Y., to Camden, vta $5,109 ,918 $"l,3Ul,624 Total gross earntngs ...... $4,368,lt:O Caua11tota., ::N. Y., 141 wiles, or wWch Elwira to Horsel.JeadH, 5 miles, $1,i23,835 $1,801,961 and Cortland to De Ruyter, 20 miles, a1e leased for 4U9 \-ears, and lfet income •••••••••••••••• $1,354,489 Canas1ota RR .. 21 nules. durmg corµorate exls:enoe. Sold in fore.Dubursements$8aa,343 S:l,''86,993 $1,223.852 elotmre in 1878 and again in l<'eb., 1884, and reoNanized as a.t present. Interest on debt........... 440,000 (5%) 5no,uoo (6%) 550,01 0 Tbe lat wort. for$1,250,GOO bears 5 p. ct. afrt:r 1889. Stock it-1 $2,000,· Div. on lat pref. stock..... 16,156 Other payments •••••••••• 10,: 68 oon; pa.r, $100. lo year endlu)( Sept. 30. 1888, grosR e ,-, r ,.ing11 were $434,1 5::J; n 1- t, $01,HO;,; dertoit under fixed oha.rg1:1s, $2J,68t. Austin Corbin. President, N. Y. Citv. Total disbursements.. $1,273,343 $1,653,149 $1, -:-84,820 EJmlra & Lake Ontario.- Owns from Cananda1~11. N. Y., t~ Balance ................... eur. f81,146 $70,686 $17,141 Watkins, N. Y .• 47 wiles; to l,h,-mung Juno., 1719 wiles; Sodus .Point to Stanlev :-u miles: otht:r 2-lotal. 100 miles. This cowpany w1111 a con-(V. 4.8, p. 128,129,398, 729; 49, p. 14.5, 173,469,650,690,789; l'olidation in Dt:ct>mb.,r, 18::lti, or tile Elruira Jetforson & Canimda.lgua, V, 60,p. 'il,) tbe Sodus J:S11y & Soutbern and the Cl.,e111un~ Rai1r,1ad", with 1-t•.1ck and Fa11t & Wellt RB. Co. of' Alabamo.-Owne tJartersvilJA. Ga. bonrts a11 at,ove. I£ ls leasPd at c·ost or 01wratinl( to tlle No, t I.inn Cento Pell Cny, Ala., 117 w 1le1<. 11.Jt> 11l1ove l,011ds w.-ie 1ssue1i in 1887 and tral, wt kb OWt:8 $1,40 8.0(10 or the $1,5li0,UUO Rtock a, ,d :t2~6,000 retirt-d $800,000 of p1-ior 1st ru01 t. b, ,JJdF< u11d a,51 0,o, l · of dt'ltt·nturni l"urtus B ;:iy bomls. Leaiae may he krtnir111te<1 on thirty dayR' 11ollct' from outstandmg. Stock IHlltl,oriz, di. $~,O( O.ouo (ptir S:100), il•R11ed at ei1hn p1.11t.-1. lo l t!88 the g-ross ellrni11gs were $c.ti2,79,; de.tioit;. l!HJ,0UO pn mil e 01 c>ornplett·d J'Oarl. ChaR. P. BHll, C11rtnsv11l.-, Ga.., $19,23-;; deficit under tl.xed ollarges, ;t;4d,9.>8. Reeel'fer. ,1· as autboriz• d to ii-f'11e :tit 50.000 to put tbe ruail ill t lJ01 011µ-lr Elmira & ffUUam@port.-Owns rrom Will1RmPport. Pa., to repair. See V. 48, p. 18!;1. E. Kell.r, Piei,'t, .ISt,w York. tV. 47, p. 140; El1Ui1a, N. Y., ';7 will:'t1. 'll.1l1" (·c,UJ].•llJJY Wl:18 reoJ'gllJJJnd under the p. 189.> prt:twJJt nil me Feb. 29, 1860, anct lellt-ed to tlle Nortl.Je:-rn CentJ aJ Rail• Ea11tern (1'.1a1111.)- 0wns fr<'m Boi:to11, MaFP., to New HamJ1sbire w 11y for 9~9 years froJtJ May 1 , 18tm, at a rent al of $1 5 4,500 1,n annum State LilJt', 41 ruilti,;; bn1D<·be1>-1?11lt ID to Ma1hlel.Jncd, 4 wilts: Bew·r a1ter Jan . 1 1880. Tbe dividt:n ds Oll tl.t e co1111uou 1-tuek art, 5 11n c>ent ley to Gloueester, 17 mileR: 8alil'l •m-y to .A1UHl11ny, 4 miles; Pn1l1ody a)J(l Oll tile pre1"f'ITf>rl 7 JleT ("I-lit. Gl'll~8 f>:n·JJitJgH in 188"; , $H47.489: toWalletl<·ld, 8 miJPR; ealcm ,., l .H'l\' It--Jl(•e, '..!O 1uil1-s.: otl1t:r~. 2 rnilt'M: n1>t . lf2P8,'; 16: s1ir:plus to lP~Pt--P, $1 :!4,849 . Gro~s e1111110~s h1 1088, · t-Otal, 1 19 D1ileP. Tbe lr1o•c s of tl1P. Eaf.trn1 RR. o1 N . H .. l ti wilt's; Ntw• :t993,3ii7; net $ S0..>,70l; i;m ].Jlus to lessee, $126,774 bu1yrort Cit y RR. , .3 ruiln-; P(l1tl;o1rl f:1-1<(1 & P01tn11r.utl1, 51 11,!,t'R, Empire & Dublln. - HawJ;inF'fillf". Ga., to" Drblin, 40 milt>F; rom J>orHnw11tn & :nm·er, 11 mile!': PorHm. Gt . FaJIP ~· ('(l}J"WHy. ';3 mileR: and w,,Jfrl•ow RR. 12 rnilt>I'. hRTe l •e<·D 11 ani:J't-"r1 ed to B. & M . A ie:1Fe 1)].-tt11. 20 uults. l.u..teHst o:U lh,lld:i guu.r. r ... r 5_yew.11 by Ew1,ir1,_Lum-to Bo1>t1..n & Maine v. as negotillttd on ntw teuus LrOlll Oct. 1, 18e3, on l.Jer Co. .... ---· v. v. ~s. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE EAST TENNESSEE, VIRGINIA & GEORGIA RAILWAY SYSTEM. COMPRISING THE EAST TENN. VIRCINIA & GA. MEMPHIS & CHARLESTON MOBILE & BIRMINCHAM KNOXVILLE & OHIO WALDENS RIDCE 60 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. [VOL. L. E :MAP OF THE EVANSVILLE & TERRE HAUTE R. R. EVANSVILLE & INDIANAPOLIS R. R. EVANSVILLE & RICHMOND R. R. EVANSVILLE BELT RAILWAY. PEORIA, DECATUR & EVANSVILLE RY. Louisville, Evansville & St. Louis Consolidated. CINCINNATI, WABASH & MICHIGAN R. R. JANUARY, 1890.] 6I RAILROAD STOOKS AND .BONDS. Subscribers wfil conCer a great Cavor by giving Immediate notice oC any error discovered In these Tables. Bond&-Prlnot DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or pal, When Du& Amount For explanation of colllIIlII. headings, &c., see notes of of Par Outstanding Rate fer When Where P~able, and by Stocks-Last on :first page Qf tables. Road. Bonde Value. Oen . Payable om. Dividend. Elmira cl Lake Ontario-( Oontinued.) Sodus Ba:v & Southern lat mortgage, gold .••... c Elmira cl Wiltiam~ori-St'k, com., 5 p . c. ren'l, N. C. ·PrefeITed stock, 7 p. o. relltal, 999 yrs., No. Cent. let mortgage ........•... .........•...•. .••.....•• . r Income bonds, 999yeare to run ................... Empire cl IJu bUn - lat mort. gold ($320,000) ......• Erie cl Pitts.-Stock. 7 p. c. ren'l, 999 yre.,Penn. Co. 2d mort., convertible .. •..••..•••...••. ..•••...•••. c Equipment bonds .••...•......•...••..•...•....•.. o Consol. mort. free of State tax: (for $4,500,000) .. c Eureka Springs-let M., gold ..•...•................ o 2d M. income bonds, 4 per oent int. paid in '89 .. .EuropeanclNo.Amer.-Stock, 5p. o. rental, M. G .•• Evansville cl Indianapolis-lat m., Evans.&Ind. g.c~ TeITe Haute & Southeastern-1st mort .......... c* Ev. & Ind. Cone. M. (for $2,500,000) gold, guar .c~ Evansville cl T. Haute-Stock .•••..••.•••.••..••..••. let ooneol. mort., gold ..•..•••.... ..•...•.•••••.. o,. let M., Mt Vernon Branch, g. ($15,000 p. m.) .. c· Evane.&Rioh.lst M.WeetDiv. for$1,000,000 gu.o* B"Oanaville l'erre H. cl Ohic.-let M., g., int. guar... c • 2d mortgage, gold .....••...•..••...•..••...•..••. c* Incomes ............. .............. .................. FitchbU1·n-Common stock ..............•.......•.... Pref 4 p. o. stock, n·o n-cmn. (T. & B., see remarks) Bonds to State of Mass. ' (3 p. ct. int. till 1892) .... Bonds, coups., $500,00 0 are 6s, due Oct. 1, 1897. B onds,$500,000 y 'rly,'99 to 1903 incl. ,rest 1908 o* Bonds ..•..... . ................••.........••..... c&r :Bonds ($1,500,00J due 1907, int. A.& 0.) .••..••. :Bonrts ..•............••...•. . ••. .• •..............• . Boston Barre & Gardner, 1st M., $91,300 are 7s. ---- - - - --- --31 77 77 77 ·15 101 81 81 81 19 ff4 54 40 135 156 144 25 ·55 55 $1,000;i 50 50 is6o 1,000 1863 500 1,000 1889 50. is6:S lOO&c 1870 1,000 1868 1,000 1,000 1883 500 1883 100 i884 1,000 1879 1,000 1886 1,000 50 issi 1,000 1,000 1883 1,000 1888 1,000 1870 1,000 · 1872 1881 1884 .... 369 .... .... .... issj .... '74&7 . --- . '80-'88 1887 ---· .... 38¼ ·ioo 100 1:000 1,000 1,000 1,000 '84-'87 1889 1873 lOO&c. Erle & Plttsburg.-uwnsNew castle,Pa., to Girard, Pa., 82 miles; branch,Dook Junction toErieDocks, 3 milestrao kage(L. 8. &Mich. So.); Girard to Erie, 17 miles; total operated, 101 miles. Road opened in 1865It was leased to the Pennsylvania RR. for 999 years from March 1, 1870, at a rental of 7 pen cent on stock and interest on the bonds, and the lease was transferred to the Pennsylvania Co. The lease h as been quite unprofitable to the lessees; the deficiency paid by them in 1881 w as $233,522; in 1882, $207,651: in 1883, $260.071: in 1884. $307,841; in 1885, $354,633; in 1886, $225,794; i.o. 1887, $237,306; in 1883, $211,063. Eureka Springs.-Seligman, Mo., to Eureka Springs, Ark.. 181.g miles; projected to Harrison, Ark., 50 miles beyond. Stock, $500,000; par $100. There is a traffic contract with St. L iuis & San Francisco. In 1888 gross earningf!, $87,722; net, $52,193; i;urplus over interest, etc., $2,v.n. (V. 45, p. 373.) Jl.uropean & North American. -Owns from Ban"'or, Me., to Vanceboro (State Line), Me., 114 miles. On Aug. 31, 188t a. lease was made to the Maine Central for 9::) years, for $125,000 per annum. equal to 5 per cent per annum on the stock, and assuming the bonded debt of $1,000,000, which is given nuder Maine Central. Evansville & Indlanapolls.-(See Map El!. cl T. H.J-Owne Evansville to r erre Haute, Ind: (via Worthington), 135 miles ; branch 3 m.; leases branch to Brazil, 12 m.; total, 150 miles. A consolidation in Oct., '85, of three corporations, viz.: the Evansville & Indianapolis, tbe Evansville Wash. & Brazil and the Terre Haute & Southeastern RRs. Of the consolidated mort. bonds, $SOO,OOO are reserved to meet prior liens. The consolidated bonds arn guaranteed bytbe Evansville & Terre Haute Co., whfoh owns entire capital stock, $2,000,000, as also $547,000 of the ot her securities. From July 1 10 Dec. 31, 1889 (6 mos.>, gross e.,rnings (partly estimated) were $180,~21; net, $92,039; surp lus ove-r ohargte. $11,199. In year fnding Au~. 31, 1887, gross earnings were $230,402; net, $102,292. rn 1887-8, gross $24.6,955; net $89,()21. (V. 45, p. 26,509; V. 50, p. 107,l Evansville & Terre Hante.-(See Map).-Owns from Evansville to l'erre H., Ind., 109 miles; Ft. Branch to Mt. Vernon, 37 miles; New Pittsburg branch, 10 miles; total operated, 156 miles. The Rockville Extension, 23 miles additional, is leased to the Terre Haute & Logansport and Chic. & East Ill. for $12,000 yearly. Formerly the Evansville & Crawfordsville RR. Co. This company is building the Evansv. & Richmond r oad to extend 15 0 miles from Elnora on the Evansv. & India.nap lis RR. to Richmond. Ind., anrl endorses the bonde; 1be mort. of 1 888 covers the western division. Elnora to Columbus. about 80 miles. In Sept., U-89, control of tbe Cinn. Wab. & Mich. stock was pur• cbased in the interest of this company. There are also $30,000 E. & C. RR. oonsols. Dividends since 1880 have been: In 1881, 4¼! p. c.; in 1884, 5; in 1885, 3; in 1886, 4; 1n 1887 and since at the rate of 1¼ per cent quart~rly. Fiscal year now end11 June 30. Last report in CHRONICLE, V. 49, p . 615. F1 ow July 1 to Dec. 31, 1889 16 mo3 ,), gross ea,rnings (partly es• timated) weie $524,016; net, $ 306,114; surplus over cllarges, $174,546. Gross earnings ten months ending June 30, 1889, $699,308; net, $290,824; surplus over all interest and dividends, $2 l',630. In l e87-8 the surplus for tbe year o,er charges and 5 per cent dividends was $17,· 832. (V. 47, p. 530, 531; V. 4.9, p. 372, 615; V. 50, p. 107.) Evan&vllle Terre Haute & Chlcago.-Owne from Terre Haute Junction, Ind., to Dan ville, Ill., 49 miles; leases 6 miles; total operated, 55 miles, It uses 6 miles of the track of tlle Rockville Extension into Terre Haute; also, leases the Indiana·Block Coal road, 15 miles. On April, 30, 1880, a lease to the Chicago & Eastern Illinois was made for 999 years; terms, $75,000 per annum and the assumption by the C. & E. I. of all rentals and taxes paid by E.T. H. & C. Stock, $3,000,000; par, $5<Y; m ajority owned by C. & E. Illinois. Josephus Collett, President, Terre liaute. Ind. (V. 48, p. 8..!7.) Fltchbur~.-Owns from Boston, Mass., to Fitchburg, Mass., 50 miles; Greenfield to Troy, N. Y., 85 miles (Incl. 6 m. leased; Vermont to Rotterdam Junction, 61 miles; and B. Barre & Gard. RR., Worcester to Winchendon, 36 miles; branches-Charlestown, 1 mile; North Cam• bridge to Waltham1 8 miles; South Acton to Marlborough, 12 miles; Peterborough & Shirley, Ayer, Mass., to Greenville, 24 miies; Saratoga and Schuylerv ille, 25 miles; Ashburnham branch, 3 miles; total owned, 299 miles; leases and operates-Vermont & Mass. RR., Fitchburg to Greenfleld, 56 miles; Turners Falls Branch, 3 m:; Bennington , 5 m.; ineluded above. 6 m.; total leased, 70 m.; total owned and operated, Sept. 30, 1889, 369 m. The present company was formed by consolidation in 1887 of the Fitohburg RR .. Troy & Green1ield RR. and the Hoosac Tunnel. and the purchase of the 1'roy & Boston railroad. 0.1' . the preferr od stock 1111,333,300 was authorized for Troy & Boston stock, &o., and receives only 2 2-5 per cent yearly till after March, 1891, and then but 3 1·5 p er cent till after March, '95, and in case of extrnorftinary expenditures on the T. & B. bey ond amounts provided for, the dividends may be with· held. Troy & Boston 7 p. o. b onds for $1,200,000, due July 1. 1924, n ave refused to come into consolidation agreement, and the question whether they are due and payable is before the courts. See CHRONICLE, V. 46. p. 708, and V. 4.7, p. :.!1; V, 48, p. 419. There is also outstanding a 4 p. ct. mort,za~(\ note of the H. T. D. & E. Co. for $500,000 due 1892. Dtvidends have been: In 1887, 2 on the new preferred; in 1888, 2 on preferred, November dividend being passed, and none paid since. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $500,000 500,000 500,000 1,000,000 570,000 160,000 1,998,400 91,800 685,000 2,485,000 500,000 500,000 2,500,000 697,000 260,000 1,003,000 3,000,000 3,000,000 375,000 5 g. 21sl 31g 6 5 bg. 1¾ 7 7 7 : g. 219 ~ g. 6 g. 114 6 6 5 6 Ni 1 • 775,000 325,000 150,000 7,000,000 13,52,'j , 100 5,000.000 1,000,000 4,500,000 2,250,0 10 2,500,000 750,000 391,000 g. g. g. g. gg. ·2· 3 to 4 6&7 5 41.g 4 5 5&7 J. & J. N. Y.Nat. Bank Com. J.\I.&N. Phila., Penn. R. R. Co. & J. do do & J. do do do do -~- & o. J. & J. N. Y., Mer. Trust Co. Q.-M. N. Y., Union Trust Co. A. & 0. do do A. & O. do do J. & J. do do F. &A, N. Y., Mercantile Tr. Co. Mar. 1. do do A. & 0. Ban~r, Treas. Office. J. & J. N.Y .. arm.L.&Tr.Co. M.& 8. do do J. & J. do do Q.-J. N.Y., Farm. L. &Tr. Co. do · do J. & J. do A. &O. do M. & 8. N. Y. Manhattan Tr. Co. M.&N. N.Y.,Farm. L'an & T,Co J. & J. do do M.&N. do do July 1, 1924 Nov. 1, 1889' Jan. 1, 1890, Jan. 1, 1910 Oct. 1, 286~ Jan.1,1919 Deo., 1889 Mar. 1, 1890 Oct. 1, 1900Jult 1, 1898 Fe . 1, 1933Feb. 1, 1933 Oct. 15, 1889 July 1, 1924 Sept. 1, 1909 Jan. 1, 1926 Jan. 21, 1890· July 1, 1921 April 1, 1923 Sept. 1, 1928 May 1, 1900 Jan. 1, 1900· May 1, 1920 M.·&·N. F. & A. A. & 0. Various M.& S. Vari ms M.& 8. A.. & o. May· i5,..is8S. Feb. 1, 1937 Ap.'l}4&0c.'97 Var.'9;}to1908 S ept. 1, 1897 1904·5-7 Mob. 1, 1899 April 1, 1893' .r. .r. Boston, Office. do do do do do do do · do do do do do do do The fl.seal year 6nds Sept. 30. The annual report to Sept. 30, 1889,.. was in V. 50, p. 36. INCOME ACCOUNT YEARS ENDING SEPT. 30. 1885·86. 1886-~7. 1887-88. 1888-89. 369 Total mUes:o,Perated. 229 345 369 Total gross eam'gs .. $3,H99,542 $4,569,321 $5,463,299 $5,8 24,84Z 4,436,604, Op. exp'sesand taxes 2,559,665 3,482,654 4.,rn6,605 Net earnings .. .... $839,8i7 $1,086,667 $1,266,693 $1,388,238-· Disbursements- $281,2~0 $266,011 $256,480 Rentals paid . . .•....• 423,228 680,388 [nterest on debt ..••. 260,763 5~,715 Other interest...•... <5>2.64:ss·i (* 4) 3·60::ii:is (•2)261,836 Dividends .•...••.•.. Total diebursem'ts. Balance, surplus .••• -$781,574 --- $278,955776,736 431. -. ---. - -. -~ $1,055,727 $l,282,219 $1,056,122 $30,940 def.$15,526 t $332,11~ $58,303 * A.nd 3 6 of 2 per rent on 10,000 shares. tor this surplus, $252.871 went to pay damagoe caused by fl.re startedby sparks from locomotives. -IV. 47, p. 21, 50, 218,625,664, 774; V. 48, -p. 159,589; V, 49, p. 81~ 207,401,654, 7~8; v. 50, p. 36.) Flint&; Pere ll.Jarquette.-(See MapJ.-Owne from Monroe, Mloh .• to Ludln~ (ion, Mich., 253 miles: branohes-BayCity to East Saginaw, 1£> miles; Flint Junction to Fostoria, 19 miles; South Saginaw branch, 5 miles: Meredith branoll, 32 miles : Manistee branch, 26 miles ; Mount Pleasant br3,nch, 15 miles; other small branches, 16 miles ; Port Huron to E. Saginaw, 91 miles; Saginaw June. to SJ.nd Beach, 70 miles; Palm to Port Austin, 3 'l miles; Port Huron to Altmont. 34 miles;.. total operated, 609 miles. The road was sold August 18, 1880, under the consolidated mortgage, and reorganization was made. In March,. 1888, the Court held that common stoolrholder were entitled to ha.v& their stock issued (S ee v. 46, p. 371.). Io 183~ con~olidated with cerhin branches (se e V. 48, p. 222) and absorbed P<.lrt Huron & N. W (see v. 48, p. 26u). A mortlla ge for $3,500,000 (Trustee Central Te. Co., N. Y.) was placed on the newly acquired line to meet theex[)ense of purchase, of which $1.200,000 to make ~he road standard gauge, &c.. &o. The consol. mort. of 1939 is a 1st mort on 116 miles of road; trustee or consol. m , Contra! Trust Co. Divldenas on prerened stock siooe 1880 have been: In 1881, 219 per cent; in 1882, 6; in 1 883 and 1881, 7; i n 1885, 51sl; in 1886, 419;. iu 1887, 512; in 1 88R, 7 and 5 extra ; in 1~ 39, 612. From Jan. I to Nov. 30, 1889 tll mos.), gross earns. were $2,159,826.., against $2,197,477 in 1888; net, $084,362, against $687,607. 'Annual report for 1888 in V. 48, p. 555, and application to Stook Exchange in V. 47, p. 441. INCOME ACCOUNT. 1887. 1888. 1885. 1886. $ $ $ $ 2,403,07~2,572,937 1,916.790 2,160,771 Total gross earn's .. 757,654 756,650, 598,950 649,669 Net earnings . .....•. Disbursements- 329,499 260,000 4,226 *322,910 325,000 Total disbursem'te. 593. 72:i> Balanoefortheyear. sur. 5,225 647,910 eur.1,759 l nterest on debt . .••• Dividends . ....•••..• Miscellaneous .. •.•.. 329,194 422,500 --...... *332,939« 449,470- ·····--- 751,69.1 782,40!>sur. 5,960 def. 25,759-· * L ess interest, &c., received. -(V. 47, p. 441,625; V. 48, p. 221,462,555,633, 855.) Florida central&; Penlnsuhr.-Own~ Jacksonville to Chatta hoochee, :.:?09 miles; Talla hassee to St. Marks, 21 miles; Drifton to Mon ticello, 4 miles; Fernandina south, 179 miles; Waldo to Cedar Keys, 7Z miles; Wildwood to Leesburg, ~3. miles; Hart's road to ~acksonville,_25-miles: Withlacooche~ to Plant Ctty, 3a miles; JacksonV1lle & Belt Lrn& RR., 3 miles; total, 573 miles. The Florida Railway & Navigation RR. in 1888 was sold and the present compauy organized. The com• mon stock ts $20,000,000, par. $100.; 1st pref., 5 per -cent, cumulative, $ l,532,000; 2d p ret'., 5 per C'"'nt, non-cumulative, $1.50U,000. Tha plan of reorganization waR in v. 46, p . 289. Trustee ot' mortgage, Cent. Trust Co., N. Y. In 18 ; 8-89 jZross, $1,093,031; net. $202,647, against $170,648 in 18!:i7·88. (V. 4.7, p. 21, 81, 744; V.48, p. 855; v. 49, p. 300. >Fonda Johnstown &; Gloversville.-Owns from Fonda, N. Y., to Northville, 26 m. The stock is $300,000; pa,r, $100. Gross earnings in 1887_88 , $ 206 ,511 ; net, $ 35 ,47 5; surplus over charges and 10 per J H k p "d t Gl ill N Y. cent dividend, $23,355. W. · eacoc , resi en, oversv e, • · Fo1.·t Wayne Cincinnati & Loulsvllle.-From Fort Wayne, Ind. to Connors ville. lnd ., 1•>4 miles: branch to Rushville, Ind., 24 miles: total operated. 128 miles. The Fort Wayne Muncie & Cin. wassold in foreclosure, July 27, 1881, and reorganized under thiFI name. There are $100,000 notes, due B93. Gro;is earning.;i in 1888, $263 •. 578· other receiots, $60,204; surplus over expense~. interest, eto.,.. $66;659. Gross ~arnings in_ 1887, $278,89}?: net,. including other r&-'ceipts, $58,908; mterest paid, $7,000. El1Jah Srmth, P.resl<1ent, N.Y. ,~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis int ~ P0rn Murqu0it0 'Burke's Falls Stuart"- - - - 1stol ·-~7 \ 1 ri/1 ~i 1 Indep~ndence -•-•-•-· •->Wilkesboro Mt. Ai -•---;;-· . MAP OF THE. ORGIA, CAROLINA , AND NORTHERN R'V & CONNECTIONS; i https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AND CONNECTIONS. INVESTORS' SUPPLEMENT. (VOL~ L. Subscribers -will conCer a great Cavor by giving hninedlate notice ot any error discovered In these Tables. · DESCRil'TION. For explanation of column heading!>, &c., see notes I on first page of tables. Fitchburg-( Oontinued.) · B. B . & G. 2d & 3d M. ($57,300 3d M. 6s. conv.) .•. Bost. Hoosac Tunnel & West, debentures . ........ Flint fl t>ere Marquette-Com. stock ($3,500,000) ... Pref. stock, non-cumulative (for $G,500,000) ..••. Holly Wayne & Monroe 1st M., sink. fund, end.c Mortgage 6s or 1920, gold ($5.000.000). ...••... c Comol. m .. , g. (for $10,000,000) $20,000 p. m •. c• 1st M.on Port Huron Div. , gold,for $3,500,000 .. c Equipm't bonds, $40,000 due annually Nov. 1. .c* PlorWa Oentral fl Pen.-lst M .• gold, $5,240 p.m.o* l"on.da Johnstown fl Glover81'ille:....1st M., s.f. not dn c .. Oons. M. for $500,000 ($300,00u res'd for 1st M.).c Fort Wayne <t Jackson-Common stock ..•....•...••. Pref. stock, !8 p. ct.)_, 512 p. ~t. _rental Lake Shore Fort Wayne Oinci.nnati <t Louismlle-Stook •••••• ••. Fort Worth if Dent1. Oity-lst M., g., $18,000 p. m.c* Fort Worth d Rio Gr.-lst M., gold, $20,000jp. m.o• 6alt1estonHarrisb.dS•.A.ntonio--lstm.,go1d,l. gr.c* !Zd mort~are, Harrisb. and Houston to San Ant.c~ West.Div., stM.,g.,SanA.toE1Paso,636m.&br .. c• do 2d mort3age .•...••......••...... c" 6alt1eston Houston d Hen . o_fl882-lst m.,guar .. c Georgia Oar. <t North.-lst M. g. (not drn). guar .. ('* Geqrgia Oo.-Tr'stb'ds,s.f.,dr.atllO aft.July,~2,g.c* Gt(Jrgia Midlc:,nd & Gulf-1st M. g,($15,000 p. m.) .c" 6eorgia Paciffo--lst mort., $10,000 p. m. int. guar. ·con. 2d m.int. guar. ($9,000 p. m.) .•.••••••..... c• do income, non-cum. ($9,000 p. m.) ..••. c& r Equip. mort., ~uar. R. & D., g., s. f. drawn at par (lt(Jrgia, Railroad d Banking Oo.-Btock .........••. Bonds,notmo'rt. ~~(?0,000 _m,!l-ture in 1922).c*&r Bonds--PrinoiMiles Date Sl,e,or INTEREST OR DIVIDENDS. pal, When Due. of of Par ou-t'st~~g Rate per Whe1, Where Payable, and by Stocks-Last Road. Bonds Value. · Cent. Pay.'.1,~E! Whom. Dividend. - - - - - - -· .... 609 609 65 302 $80 218 573 10 26 97 97 128 450 90 225 671 671 50 268 98 514 514 514 1875 1883 . ... is,i 1880 1889 1889 1887 1888 1870 1881 .... ·--· issi 1888 '71-'80 1880 1881 1881 1833 1889 1887 1886 1882 1888 - 1888 ....•, •ss9 307 .••. .••. 77&80 $1:ooo 100 100 1,000 1,000 1,000 1,000 1,000 1,000 100 &c. 100 &c. 100 100 100 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 500 &c. 500 &c. 1,000 100] 1.000 Port Wayne & .Tackl!lon.-Owns from Jackson, Micli., to Fort Wayne, Ind, 97 miles. The former Fort Wayne Jackson & Saginaw made default on its bonds and was sold in foreclosure Dec. 3, 1879. On Sept. l, 1882,leased perpetually to Lake Shore & Mich. Southern at a rental of $126,027, equal to 512 per cent on the pref. stock, and' after 1887 any net earnings over 8 per cent on pref. stock to be paid as dividend on <Common stock, but not exceeding 2 per cent a year. Port Worth & Denver Clty.-(See Map)-Owns from near Fort Worth, Tex., to Texas State line, 446 m .. a.nd operates br. 16 m.; uses M. K. & T. into Fort Wortb, 1our-ml.1es, In 1888 stock of the Denver Texas & Fort Worth was accepted in excbane:e for all but $500,000 of this company's $8.985,000 stock (see DenverTexas& Fort Worth). See .abstract of mortgage,V. 45, p. 440 (Trustee, Mercantile Trust Company -0:t New York. (See annual report for 1887-88 in V. 48, p. 36. ) In year ending Oct. 31, 188 9, gross earnings were $1,4.00,077; nf\t over operating expensfs, S:538,6\:17. In 1887·88 the jrross earnings were $1,016,113; net, !f373,4::33; surplus over interest, taxes, &c., $79,493. -(V.45, p. 25. 85,142,166,272,342,437.440, 575. G42, 768,792, 819, 820, 823; V. 46, p. 75,255, 344,413; v. 47, p. 744,802; V. 48, p. 36; 49, p. 720, 788.) Port Worth & Kio Grande.-Projected from Fort Worth, Tex., southwesterly to Kerrville, Kerr Co., Tex., 330 m., with branch l m. Completed Fort Worth to Dublin, about 90 miles, in Nov., 18'39, and unde1' construction to Comanche, 30 miles beyond. Mortgage trustee is Central Trust Co., N. Y. (V. 48, p. 221, 854; V. 49, p. 570.) Galveston Harrisburg & San A.ntonlo.-(See Map of Southern Pacific.)-Owns from Houston, Texas, to San Antonio, Texas, 217 miles LaGrange Extension, 28 miles; Harrisburg to Pierce Junction, S :niles; leased, Harwood to Gonzales, 12 miles; total, 266 miles. Wester11 Extension, Ban Antonio to Rio Grande Ri\Ter, connecting with Southern Paciilc, 636 miles; Eagle Pass Branch, 35 miles; total Western E.x:ten• eion, 671 miles. Grand total, 93 7 miles. The stock "is $!::7,093,000. The 1st mort. covers 256 miles of old road and 1,500,000 acres of hl,nd. It has a sinking fund of 1 per cent, but it is optional with bondholders to surrender their bonds, if drawn. There is also $182,034 Texas school debt outstanding. On Feb. l 0, 1885, this property was leased for ~9 years to the Southern Pacific Company for interest on the debt and 1614 per cent of the net profits on the whole Southern Paciilc system. From Jan. I toNov.30, 1889 (11 mos.), grossearningswere$3,606,230, against f3,459,754 in 1888; net, $765,:i79, against $871,783 in 1888. In 1887 p;ross earning1,1 were $3,3-17,184; net, $682,947. In 1888, gross, :$3,804,674; net, $982,873. (Vol. 48, p. 800.) Galveston Houston & Henderson oC 1882.-0wns from Gal· veston, Texas, to Houston, Tex.as, 50 miles. The road was sold in foreclosure Dec. 1, 1871, and again Aug-. 1, 1882. Leased for 99 years, to -:the International & Great Northern RR. Co. and bonds guaranteed b:y that compaJ1y. Stock $1,000,000; par $100. In 1888 gross earn's were -$372,699; expenses, lf344,145; net, $28,554: rental of track, $139,455; itotalnet i.ncome, $168,010; interest, &c., $106,063; surplus, $61,947. Geor~la CaroJlna & Northern.-,see Jfap.)-In progress from Monroe, N. c., to Atlanta, Ga., 268 miles, of whicn 44 miles are com• ;pleted and the balance under construction. The line is part of the "Seaboard" syftem, and the b nnds are guaranteed (by indorsement on each <bond) by the Seaboard & Roanoke and Raleigh & Gaston RR.companies. They cannot be redeemed before maturity. The Mercantile Trust & Safe Deposit Co. of Baltimore is trustee ot the mort_ga~e; see abstra<;t ,of same in v. 49, p. 239. Stock, $600,000. R. F. HoKe, Athens, Ga., President of the company. Georgia Coinpany.-This company was formed in 1887 to control and extend the system of the Georgia Central RR. & :Banking Co., and ,owns 40,000 shares ($4,000,000) or the stock of that company, this stock 'being depoaited with the Central Trust Co. of N. Y. (trustee 01' mortgage) as security for the above bonds. After June 30, 1892, a sinking tund of at least 1 per cent or outstanding bonds will purchase or draw bonds at 110. Stock is $12,000,000 (par $100), all owned by Rich. & W. P. 'l'erm., and deposited as part security for its collateral trust of 1889. Rich. & W. P. Term. owns also $3,429,000 of the collateral trust bonds. In November, 1888, the Richmond Terminal purchased control .and elected new Board of Directors.-(V. 45, p. 792; V. 46, p. 4 of adv'ts, 353; v. 47, p. 625.) Georgia Midland & GuJC.-Road built from Columbus, Ga., to McDonough, 98 miles. Stock, $1,225,000; par $100. N. Y. office, 7 Nassau St. (V. 46, p. 133.) Georgia Paclfic •.....:(See Map of Richmond fl W. P. Term.)-Atlanta, Ga., to Greenville, Miss., 458 miles; Woodlawn to Bessemer, Ala., ,1 9 miles; small branches, 18 miles; Deer Creek branch (3 ft. gauge). 22 miles; total, 518 miles. Operated in the Richmond & West Point Terminal system. The Richmond & Dan ville gives a traffic guarantee of 20 per cent on joint business to p ay coupons if needed, but. the coupons may be held as a lien. In Nov., 1~88, this ro,i,d was leased to the lUchmond & Danville for 20 years, from Jan. 1. 1889 (with privilege of renewal), the rental to be net earnings, and tbe R. & D. ag-reeing to make up any deficiency in these to meet fixed chara-es. all such advances, however, to be a preferred charge next ahead' of the income bonds (se1 v. 47, p. 744), Capital stock is $8.555,000 (par $100). and $4,378,432 of it is held by the Richmond & West Point Terminal Co., .iw-hich owns also $1,3lJ7,621 income cs of 1888, and has deposited them, v. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - - -· - -· $243,600 1,400,000 3,298,200 6,342,000 1,000,000 3,999,000 1,000,000 2,500.000 320,000 3,000,000 300,000 • 200,000 431,747 2,287,832 4,000,000 8,086,000 1,800,000 4,756,000 1,000,000 13,418,000 6,354,000 2,000,000 5,360,000 4,000,000 1,470,000 5,140,000 4,626,000 4,626,000 2,000,000 4,200,000 2.300,000 3&6 5 ··:r 8 6 g. 5 g. 5 g. 5 ·5 g. 7 6 Boston, Office. J. & J. M.& S. N. Y., Kountze Bros. July 1, 1895 Sept. 1, 1913 F ..&.A. East Sag., Mich., Treas. J. & J. N.Y., Mer. Ex. Nat. Bk. A. & 0. M.& :r,;. N. Y. Agency. A. & 0. New York Agency. M.& N Boston, Inter'l Tr. Co. J. & J , N. Y., Am. Exch. Bk. J. & J. N. Y., St. Nioh. Nat. B'k. A.. & o. do do Aug:·i5:·i889 Jan. 1, 1901 Oct. 1, 1920 M:;i,y 1, 193!) April 1, 1939 N ov.1,'90to'97 July 1, 1918 July 1, 1900 Aprill, 1921 ··2~ M ..&.. S . N Y.,Fa.rmers' L.&Tr.Co Sept: 2," .i889 ··s·g. 5 g. 6 g. 7 5 g. J. &··D. J. & J. F. &A. J. &D. M.&N. J. & J. A. & O. J. & J. J. & J. J. & J. J. & J. A. & O. A. &O. F. &A. Q.-J. J. & J. 6 5 5 5 6 6 5 5 g. g. g. g. g. 5 g. 2~ 6 0 N. Y., Mercantile Tr. Co. N. Y., H.B. Hollins & Co. N.Y.,So.Pao.Co.,23Br'd do do do do ·do do N. Y.,Mewantile Tr. Co. N. Y., Mfrc. Tr., & Balt. N. Y., Central Trust Co. N. Y., Central Trust Co. N, Y., Central Trust Co. do do do do do do N.Y.,Am.E.x:. llk., & Aug do do 1: Dec:· .i921 July 1, 1928 Feb. 1, 1910 June 1, 1905 May 1, 1931 July 1, 1931 April 1, 1913 July 1, 1929 July 1, 1937 July 1, 1926 Jan. 1, 1922 Oct. 1, 1923 Oct. 1, 1923 Aug, 1, 1904. Jan. 15,1890 '97, 1910,1922 Iasconsol well as the stock, a.s security for its collateral trust of 1889. The 2d mortgage (trustee. Central Trust Co.) secures $5,400,000 2d mort- ' gage bonds, and also, subject to these, $5,400,000 2d mort~age non-cumu.lative incomes, both issued at $9,000 per mile. The eqmpment mort. bonds of 1889 are payable by a sinking fund aml are guaranteed (en.dorsed) by Rich. & Dau. From July 1 to Nov. 30, 1889 (5 mos.), 11ross earnings were $681,011, against $571,315 in 1888; net, $l29,4U, aaai.nst $138,091. In year endin~ Sept. 30, 1888, gro~s earni-¥.s were 3 3 145 926 $ ; in~e~ c~a~es, $.:> ~o5 • < • 47, p. 3 • 4 • 7 ,l4net, • 3 • ~~ ; · · • p. 2 3 .) • 8 00; · 48 , p. Georgia R:allroad & Banking Co.-Augusta, Ga., to At1anta, Ga., 171 miles; branches to Wasbi.n~o:o and Athens,60 miles; Warrenton, Ga., to Macon, Ga., 76 miles; total owned and operated, 307 miles. The Western Railway of Alabama is controlled jointly with the Central RR. of Geor~a, this company holding one-half the stock of $3,000,000. The Macon & Augusta RR., 76 miles, is owned by this company. The Port Royal & Augusta RR. is owned oue-fifth part by this company; the Atlanta & West Point thirty-five one hundredths by this company, which also owns $150,000 of its own stock. In April, 1881, a lease for 99 years was made to W. M. Wadley and stssociates, for the Central of Georgia and the Louisville & Nashville railroads. at $600,000 per year, p ayable semi-annually. Dividends since 1880 have b t en: In 1881, 912 per cent; in 1882, 1014: from 1883 to 1887, 10; in 1888, 10~; in 1889, 11. Deficit to lessee companies in 1884-85 on the lease was $98,599; in 1886-87, $110,959; in 1887-8, protlt, $14,374; 18~8-9, deficit, $21,066. In 18'39 rental, etc., was $600,182; dividends (Nos. 2 and 3) from bank, $100,000; total, $700,182; deduct interest. etc., $178,107; di v1dends paid ( 11 p. c.). $462,000; balance, $60,076: surplus of bank for year, $62,637; total bank surpl_us March 31, 1889, after payment of $100,000 dividends, $233,748.-(V. 46, p. 245.) Georgia Southern & Flol"ida.-(See Map)-In operation from Macon to Lalce City, Fla., 210 miles, and under construction to Palatka, Fla .. 285 miles in all, to be completed by Jan. 1, 1890. The road is built by the Macon Construction Co., and under the name of the Ma.con & Birminirham RR. will be extended from Macon to Birmingham 230m. Trustee of mortgage is the Me:rca.ntile Trust & Deposit Co. of Baltimore. President, W. B. Sparks, Macon, Ga.-(V. 47, p. 563; V. 48, p. 800, 828; v. 49, p. 718.) Grand Rapids & Indlana.-(See Map of Pennnylvania RR.)-Owns from Fort W:w ne Ind., to Mackinaw City, 367 miles; Manistee Branch, 22 miles; Missa.ukee Branch, 8 miles; Blg Rapids & Western Branch, 9 miles; Osceola Branch, 7 miles; total owned, 40-! miles; Harbor Springs Branch, 6 miles; leases and O:J?erates Cm. Richmond & Fort Wayne RR., 86 miles ; Traverse City Railroad, 26 miles ; Muskegon Grand Rapids & Indiana. RR., 37 miles-157 miles, Total, 567 miles. The Grand Rapids & Indiana Railroad is operated in the interest of the Pennsylvania Railroad Co., and $3,934,000 of the first mortgage bonds were guaranteed by that company, which has bought the coupons when any remain unpaid by the earnings. First mortO'age land grant bonds may h.e bought (not drawn) at 110 out of proceeds of land sales. There was in the sinlling fund for 1hem Jan. 1, 1889, $1,926,492 cash and bills. receivable. They are replaced by 5 per cent bonds issued. Tbe Muskegon Gr, Rap. & Ind. bonds have a traffic guarantee applicable to their interest payment. Penn. RR. owns all the 2d mortgage bonds. '£here is a, real estate mortgage !'or $56,000. The Co. has a. land grant, and sold in 1888 16,967 acres, for $360,897. The lands unsold on Jan. 1, 1889, were 375,606 acres. The assets were $487,!.99 bills receivable and $1,439,292 cash. · The income accounts for three years showed in 1885 a deficit of $140,· 698; in 1886 a surplus of $14,187; in 1887 a surplus of $126,287; in 1888, def. $79,816. (V. 46, p. 134, 254; V. 48, p. 686, 855.) f~• ~tf f• iiie1; Great N ort-hern.-This is a Minnesota corporation which is about to lease the St. Paul Minn. & Manitoba · and its dep1f1dencies for 99 years at 6 p er cent on the Manitoba's $20,000,000 SLOCk. The Great Northern's authorized capital is $40,000,000, of which il20,000,000 ts preferred, and this only will be issued at present. The Manitoba stockholders were offered the privilege of taking it at 50, the remaining 50 per rect to lie paid by a transfer to the Great Northern of all the securities hitherto owned by the Manitoba Company, amountio~ to over $22,000,000. With the proceeds ot this stock the Manitoo3,'s collateral trust bonds will be paid otf. The securities acquired will be placed in trust to secure the unity of the system. The lea.Je will be executed when certam conditions have befn ful:filled.-(See V. 49, p. 435.) Green Bay Winona & St. Paul.-Owns from Green Bay, Wis., to Marshland, Wis., 209 miles; branches, 10 miles; leaseR-Plover to Steven's Pt., 6 miles; total, 225 miles. This was a reorganization in 188 l of the Green Bay & Minnesota, which company made default and the road was sold March 12. 1881. Preferred stock is$2,000,000, 7 per cent, and common stock $8,000,000, both stocks $100 shares. On Feb. 1, 1885, default was made on the 1st mortgage int., and in 1886 bondholders consented to fund the three overdue coupons and the company resumed payment but defaulted August, 1889. A comprehensive plan for reorganization without foreclosure and for building the Southwestern Extension was brought out in July, 1889, (see V. 49, p. 113.) For 1888-89 gross earn'gs were $302,105: net, $46,698; taxes and interest, $133,949. In 1887·88, gross, $354,774; net, $59,316. Samuel Sloan, Pres., N. Y. (V. 46, p. 254; V. 47, p. 563; V, 49, p. 113,145,341, 654.) 00 ~ ~ 0 0 E-1 l\t(~ ~ ~ 00 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ , ,, Q stine M MAP O:B" THE GEORGIA SOUTHERN & FLORIDA -AN 0- MACQN & BIRMINGHAM AND CONNECTIONS. 0 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE HUDSON SUSPENSION BRIDGE - AND - NEW ENGLAND RAILROAD r J,......, 0 0 < 0 r r4 JANUARY, 1890,) RAILROAD STOCKS AND BONDS. 67 Subscribers ,vlll conCer a great Cavor by giving Immediate notice oC any error discovered In these Tables. DESCRIPTION. For explanation of column headings, &c., see notes on first page of tables. Bonds-Prinof INTEREST OR DIVIDE NDS. Miles Date Size, or Amount Rate per When Where P-Wiable, and by pal, When Due, Par Outstanding of of Stocks-Last Cent. Payable hom. Road. Bonds Value. Dividend. --- Georgia Railroad cf Banking Oo.-(Oont-inued,) Bonds, u ot mortgage ..........•........•........•. r Georgia Southern cf Fla.-lat M., g. ($12,000 p.m.)c• 6rand Rapi<ls cf Indiana-Stock ..........•...•... c· 567 1st M., land grant, golds. f. (guar. by Pa. RR) .. c• 335 1st M., gold, ($505,000 are land gr.s.f.,not dr'n) .c* 335 2d mortgage,redeemable at 105 till Aug. 1, 1894.c* 367 General mortgage for $13,000,000 ..•......... c & r 367 Mackmaw loan • . ... ... Muskf'gon G. Rap. & Ind. RR. 1st m. tl'af. guar.c* "37 Great Norlhern-Stock, pref., for $20,000,()00 ..... Green Ba11 Winona d'; St. Paul-lat mort. coup ...•. 219 Funded· coupon bonds .... ..... ••.... . ..•. . ••..••. .. 2d mort. income bonds, non-cumulative ......•••. 1 219 "Ship Island- 1st M.. gold, $12,000 p. m ... c* . 2 m or t. 1or $2,800,000 ($8,000 p. m.), f{Old .••. c* Hannibal IE St. Joseplr-Conaol. M. (for $8,000,000).c* 292 13 1st mortgage ~uincy & Palmyra .tl.R ..•. . ....... c"" 1st mortgage ansas City & Cameron RR .... . . c~ 54 5R Han·isb. l:'m·tsm! th Mt.Joy ~ Lanc.-Stock, 7 %guar. 53 let M. (ext'd in '83), int. guar. Penn. RR .. .. .. ... r Barrisi,urq ~ Potomac-lat mort. ft r $1,800,000 .. c 38 Hartford~ 001inectie.1~t Western-lat mortgage ..•. 104 Bousatonic-Stock ..•..••.......•.......•.......•.... 190 Preferred stock, 4 per cent non.cumulative ...•... 190 New consol. mort. (for $3,000.000) .••...•..••.. c* 164 74 Consol. mort., not payable till 191.0 ............... 74 Consol. mort., 10-3Us, payalile April 1, 1890... .. r oust• .l!last cf West Texas.-lat M., gld ($7,000 p. m.) 192 2d mort., land grant . . ... . .•...• . .....••... .... .. c* 192 Consol. mort. 1. gr., ~old, $18,000 p. m ..•••....... 192 ~ffo 6u[ --- 1887 1887 i869 1869 1884 1884 . .. ... 1886 issi 1886 1881 1 887 1887 1881 1867 1867 i853 1874 1883 ·--· i ss7 1880 1880 1878 1 883 1889 i:ooo 100 1,000 500 1,000 1,000 1,000 1,00•.:1,0111 1 1:600,000 280,830 3,781,000 (i) m ::,ooo 50 5vO &c. l OO &c. 1,000 100 100 1,000 500&r>. 500&0. 1,000 1,000 -····· GulC & Ship Island.-Tbis road is under const1 notion 212 mil.es west of Missist>i;PPi City at Gulfport, a n ew town owned by the company, to a junction with the Memphis & Charlesto? just ~eyond t~e Mis· sissippi line. The total Jen/!th of the road, as pro.Jecte~, 1s_ 350 mile~, of which 37 miles from Rlplf y to Pontotoc, Miss., 1s m operat10n , and about 77 miles to connect with the New Orleans & Northeastern at Hattieobur gh in progress. August 1, 1889, this road was reported as consolidated with the Ship I sl. Rip.& Ken (Middlet'n to Pontotoc, 64 m.), uncter tlle name of Gulf & Chicago RR. Both mortgages cover land acqmreJ; trustee, Manhattan Trust Co. The bonds are held by the Construction Co. till road is finished. N. Y. Office, J. B. Dumont, 40 · Wall tltreet. Hannibal & St. ;:r oseph.-Owns from Hannibal, Mo., to St. Josep.IJ Mo., 206 miles; branches-Cameron to Kansas City 54miles;. St. Joaeplr to Atchison, Kans .. 20 miles; Palmyra to t.; ,lincy Ill., 13 m1les: leases, 2 miles; torn I operated, 295 miles. '.rhe Bridge across the Missouri River at Kansas City 1 owneo. Stock -Common, $9,168,700; preferred, $5,083,024; par $100. C. B. & Q. RR. Co. owns the greater part of botb classe of stock, and also $9,000,000 5 per cent de t>entures. Preferred stock has prior right to a non-cumulative dividend ot 7 pet cent; then common to 7 ; then both share. Di vidends on pref. stock since 18 76 have be n: In 1 880, 3 per cent; in 1881 and 1882, 7; in 1883, 3; in 1887, 7; in 1888 and l889, nil. Fiscal year ends Dae. 31. The income accounts have shown as follows: Deficit under all charges in 1888 of $-16,091; surplus of $397,562 in 1887; $68,210 in 1886; $506,152 in 1885. (V. 48, p. 688.) Harrisburg Portsmouth Mount ;;Joy & Lancaster.-Owne from Dillerville, Pa., to Harrisburg, Pa., 35 miles; branch, Middletown, Pa., to Columbia, Pa., 18 miles; total operated, 53 miles. The property wali leased to the Pennsylvania Railroad Co. for 999 years from Jan. 1, 1861, the rental being 7 per cent on the stock and Interest on the bonds. Stock $1,182,550; par $50. Operated as a part o1 main line of Pennsylvania Railroad. Harrisburg & Potom.ac.-Owns from Bowmansdale to Shippensburg, Pa., 32 miles; branch to mines, 519 miles; total operated, 37½! miles. Stock $379,165 ; par $100. Austin Corbin, President, Philadelphia, Pa. Haritord & Oonnectlcut Western.-Owns from Hartford, Conn., to Rhineclifi', N. Y., 108 miles. On May 25, 1881, bondholderR reorganized, and stock in new company issued for bonds. In 1888 a controlltng interest in the road was purchased by parties interested in the P o ughkeepsie Bridf{e, by which it forms an all-rail route across the Hudson River. On August 30, 1889, a lease for one year was made to the Central New England & Western, the rental paying charges and 2 per cent per annum on the -,tock. There are still outstanding $~4,300 Connecticut Western RR. 7 per cent bonds, due 1900, convertible into stock at 60 per cent. Stock $2,635,700; p ar $100. In 11 months ending Au l!". 31, 18b9, gross earnings, $325,574; net, $52,669; surplus over fixed charges, $11,306. ( V. 46, p. 228; V. 47, p. 21,802; v. 48, p. 190, 251, 399, 526; v. 49, p. 51, 173, 207.) Housatonlc.-Owns Bridgeport, Conn., to State Line, Mass., 74 m.; Brookfield June. to Danbury, 6 m.; West Stockbridge RR., 3 m. (stock owned); Botsford to Huntington, 10 m. Leases-Berkshire RR., 21 m.; Stockbridge & Pittsfield RR., :&3 m.; Danb. & Norw. RR., Danbury to Wilson, Conn., 26 m., and branches, 10 m.; New Haven & Derby, 17 m.; total operated, 190 miles. This road is controlled by parties interested in theN.Y. & N. England. and In May, 1889, the Uonn. Legislature declined to authorize an increase or stock 1or building a parallel road to the N.Y. N.H. &Hartford. Common stock is exchangeable for the new preferred stock on basis ot one and one half shares of common for one of new preferred; $970,000 consol. 5 per cent mortgage bonds held to retire old debt. There are also $70,000 5 per cent Danbury branch bonds due October 1, 1912, redeemable Oct. 1, 1 892. In Sept., 1886, the Housatonic leased the Danbury & Norwalk RR. for 99 years, and in July, '89, leased N. H. & Derby. Dividends on preferred stock since 1876 have been: From 1877 to 1884, 8 per cent; in 1885, 5; in 1886, 6; in 1887, 3; in 1888 and since, nil. Report for 1887-88 in CHRONICLE, v. 48, p. 37. Fiscal yeur ends September 30. Div.% Net Gross Passenger Freight (ton) Earnings. Earnings. Rentals. Pref. Mileage. Years. Mileage. 0 1887-8.16,538,739 24,550,~37 $1,087,413 $411,9~9 $164,055 3 170,022 9i:,2,550 380,253 1886-7.15,737,214 21,757,014 6 74,100 690,016 240,610 1885-6. 9,890,020 17,296,373 -(V,47, p, 442, 744, 775; V. 48, p. 3'7, 100,398,526,662; V. 49, p . G.3-1.) Houston Ea11t & West Texas.-(Na1Tow gauge, 3 feet.)-Owns from Houston, Tex., :o Mabine River at Logansport, 192 miles, and connects there with a line to Shreveport, La. The company had a Texas land grant o1 10 240 acre.a for eacn mile constructed and equipped. Bonds issued to the extent of $7,000 per mile first mortgage and $5,000 per mile second mort 5age, but the 2d mortgage bonds were not sold and are held as collateral 1or the debt due Mr. Bremond, $750,000. Stock authorized, $10,000,000; issued, $1,920,000. In July, 1885, M. G. Howe was avpointed receiver. Interest, is in default, and severa,l propol!!itions have been made to bondholders. Road ii to be sold March 11, 1890. In 1887 gross earnings were $364,820; n et, $106,446. In year ending March 31 1889, ~oss earnings were $39!1,0l.5; net over https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $200.000 2,520,000 4.986,081 3,934,000 1,441,000 2,i00,000 4,104,000 275,000 750,000 $1,000 1,000 100 1,000 1,000 1,000 1,000 6.709,000 433,000 1,21.)0,000 1,182,550 700,000 507,200 608,000 43,100 2,864,200 2,5:i7,000 100,000 271,500 1,344,000 750,000 (1) J. & J. Am.Ex.Bk., N.Y.& Aug. 5 6 g. J. & J. NY.,Security&Trust Co. ··,;·g. J. .&..J. N. Y., Winslow, L. & Co. 7 g. A. & 0. do do M.&N. 6 do do M.& S. do 5 do 6 5 g. J. .&.J. N. Y., Winslow, L. &Co. . .... ··s· F. &A. Last paid Feb. '89. F. & A. tJoups.o! Aug.'89, b'ght. 6 M.&N. 8 None ever ~,a11i. fj #{. J. & J. N. Y., Agency. 6 g. J. & J. do do 5&6 M.& S. N.Y., Bk.of No.America. F. &A. do 8 do J. & J. 10 do do 3¼ 4 7 5 . --· J. J. J. J. & & & & .... J. Phila., Co.'s Office. do J. do J. Phila., Third Nat. Bk. J. Hartford. ·····-···· ..:fg. M:&·N. N.Y.• Farmers' L.& T.Co A.. & o. 4 Bridgeport, Conn. A. & O. 5 do do g. M. & N. Last coup'npd.May, '86 .. ________ J. & J. 5 g. . ... i Jan.. 1, 1922 July 1, 1927 Oct:· i·; ·i899 Oct. 1, 1899 Nov. 1, U~99 Sept. 1, 1924 Juiy" i'," .i 926 Feb:·i·,--i911 Aug. 1, 1906 J\hy 1, 1911 Jan. 1, 1927 Jan. 1, 1927 Mar. 1, 1911 Feb. 1, 189 2 Jan. 1, 189 2 Jan.10,1890 July 1, 191 3 Jan. 1, 19·0 4 July 1, mo 3 .... ---· Nov.• "i,' ·i93 7 April 1, 191 0 April 1, 1910 1898 Jan. 1. 191 3 • 1929 I operating expenses and tax~s. $ln7.606. (V. 47, p. 188, 200, 381, 744; v. 4.8, p. 589; v. 49, p. 434, 616, 718, 824.) Houston & Texas Oentral. (See map of Southern Paciftc.)-Owna rrom Houston, Tex., to Red River City, Tex., 345 miles; branches -Hempstead, T~x., to Austin, Tex., ~18 mp.es; Bremond, Tex., to Ross, ·.rex., 57 ID.Iles; total operated. o~O rrul~s. Texas Central RR. eompleted from Ross to Alliany, 177 miles, with branch, Garrett to Robert, 52 miles, is operated in connection with this road, but accoun ts are separ ate. The company ha,s a lancl l{raut from the State of Texas of 10,240 acres per mile. amounting to about 5,250,541acres, o r which Aug. 31, 1888, 2,522,620 acres remained unsold; but the lands a.re not on the line o f the road . In February, 1885, B. G. Clark and Chas. Dillin~ham were appointed receivers. Sale of the ro~d ~as marte Sept. 8, 1 88:$, to tile r eorg aniza,tton committee.' (See pla,n m V. 45, p. 792, 820.J Bonds are p:iven in table as they will stand under the propoEed r eo l'gauizr.tion. Intere3t charges wiU be $914,248; taxe3 (Psthuatect), $70,000. Al mortgages are gu · a.meed by the Sontb rn Pa •itlc Co. The new tock i-4 $ 10 000,000 and the old stockholders bad to pay a cash assessment or 73 p er cent to obtain their pro rata share of the new stock. The Southern .Pacitlc Company owned $3,985,500 of the stock of $7,726,900. Intere t o •i the first mortgage bond certitlcates has been paid at the Central Trust Company; in September, 1889, about $215,000 of old bonds of the different issue3 r em ained outstanding. A suit for foreclosure o.t the Waco Divi ion 1st mortgage wa l.Jep:un in April, 1889. An injuno• tion a.gains~ t~~ assessment of stock as p_rop_med was ~ra.nted in Dec., 1889, prob1b1t1og new 8hares to be d1str1buted unti l trial of action. -(S ee V. 49, p. 856.) From Jan.1. to Aug. 31 (8 mos.) gross earnln~s were $1,669,760 in 1889, a~ainst $1,395,121 m 1888; net, $312,805, against deficit of $112,09;:s. The following is the statement 01 earnings, betterments, interest charges, &c., for foar yea.rs. EARNINGS, EXPENSES AND CHARGES FROM 1885 TO 1888 INCLUSIVE, 1888. 1887. 1886. 1885. Gross earnings .•••..•. $2,739,915 $3,080,796 $2,896,999 $2,786,053 Expenses- Operat'g, incl'gtaxes.$2,052,377 $2,311,205 $2,501,502 $2,262,088 82,128 f 77,192 l Extraordin'yrep's, &c 78 , 834 216' 363 ~ 40,844 82,989 5 _____ Equipment............ Total. .....•.....•... $2,21.2, 559 $2,390,039 $2,717,865 $2,385,060 $400,993 $179,131 $690,757 Net earnings . .••..•... $527,356 - (V, 46, P•. 191, 289, 537. 573, 60~; V. 47, p. 50. 327, 74-1: V._48, p. 159 398,489,633; v. 49, p. 22, 1.45, 173, 26:J, 471,654, 856.) Hudson Sus pension Brid0 ·e & Ne-w England RR -(See Map.)-Chartered to bridge the Hud·on Rivt>r at Autnony's Nose near Peells.kill, and to build a line of railroad over the bridge from Tur~er's N. Y., to Conn. State line a t .S-ortk S1:tlem. The Co. h as tra.tfic cnntra.cts with several roads, i ncluding an important one with tbe N. Y. & New Eng• land. Ct is expected that the brid~e will be open by July 1, '90. The mort. (Trust ee, A tlantio Tr. Co.) will cover the bridge, ~4. miles of railroad, and a tunnel or 5,304 feet a.t Bull HUI. Stock. $10,ooo,uoo. pae ., noo. President, Edward W. Serrell, 38 Wall St., N. Y. (:3ee CHRONICLE, p. 744.) -(V. 49, p . 22, 51.) Huntingdon & Broad Top.-Owns from Huntingdon, Pa., to Mt. Dallas, .Pa., 45 miles; brancnes-Shoup's Run, 9 miles; SIX Mile Run, 4 miles; an~ Sandy Run, 3 miles; Lonf{'s Run Br .. 3 miles; total operated, 64 miles. Stock $1,36!>,400 common and $1,985,800 7 per cent non•cumulative pref. stock; par, $50. There were also Jan. 2 1890, $282,000 car trusts. Dividends on pre!erred stock since 1883 hav~ been: In 1884, l ¼ per cent; in 1887, :.:'; in 1888 and 1889, 5 yea.rly· in 1890, Jan. 18, 21.g. In 1887 gross earnings $435,426; net, $2~6.252: In 1888, gross, $516,000; net, $290,162. (V. 46, p. 190.) Illinois Oentral.-(See Map.J-LINE OF ROAD-Chicago to Cairo 365miles; East Duouque to Centralia, 341 miles; Memphis Div.-Gren• ada to Memphis, Tenn. (Miss. & Tenn. RR.), 100 m., and C. St. L. & N. O. RR., Cairo. Ill., to New Orleans, La., 547 miles; branches-Otto to Notmal, Ill., 79 miles; Buckingham to Tracy, Ill., 10 miles; Kempton Junction to Kanka.iree June., ill., 42 miles; Gilman to Springfield, 111 miles; Parkside to South Chica"'o, 2 miles ; Champaign to Havana, with branch Monticello to Decatur, '.i32 miles; West Lebanon, Ind., to Leroy Ill., 74 miles; Durant, Miss., to Aberdeen, Miss., 106 miles; Jackson to Parsons, Miss., 1~6 miles; Schula to Durant, Miss., 25 m.; Mound City branch, 3 m.: Chic. Mad. & Northern, La Vergne, Ill., to Madison and Dod~eville, Wis., 222 miles; total, 2,275 rmles. Also controls by own• ersh1p of nearly entire stock Dubuque & Sioux City and leased lines 600 miles. Grand total, 2,875 miles. ORGANIZATION, LEASES, &c.-This company was charter6d in Decem• ber, 1850, and organized in March, 1851. The lands granted were upon tlle condition that the company should pay to the State 7 per cent o1 gross earnings y early in lieu of taxes. The leased lines in Iowa acqmred in 1887 y purchase of&. controllin[interest in their stock were consoli• da ted m 1888 as the Dub. & Sioux u1ty. The company acquired a con• trolling interest in the Chic. St. Louis & New Orleans Raih·oad. and leased it from July 1, 1882, for 400 years, at 4 per cent per annum on stock, and issued the above 4 per cent leased line stock in exchange for the Chic. St. L. & N. O. stock. In 1889 the C. St. L. & N. O. was consolidated 68 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. [VOL. L . JANUARY, RAILROAD STOCKS .A.ND BONDS. 1890.] 69 Subs~rtbers wUl conf'er a great t'avor by giving bnmedlate notice of any error discovered In these Tables. Bonaa-PrtnclDESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size or Due. Amount Rate per When Where PW:ble, and by pal,When For explanation of column headings, &c., see notes of of par Stocks-Last on first page of tables. Road. Bonde Value. Outstanding Cent. Pay'ble om. Dividend. Homton cl Texas Oentrat.let m. land grant gold, int. gua.r. by So. Pac ...••. •Consol. M., land giant, gold, int. guar. by So. Pa<'. Gen. M., gold, int. sua,r anteed by So, Pao ......•. Debent., prln. and mt. ~ar. ($705,420 are 6s) .. Bud. Sus. Bri~e cl N.E.R r·lst M.$10,000,000.c•&r Bunt'gd'nclB adTop-St .$1,985,~00is7£.o'tpref. 1st and 2d morts., 1st M. $416,000, ue 1890. 3d mortgage conso ·dated .••..••..••..••...••..•.. ~i - -· - 520 520 520 .... 64 0 64 64 ilZUnois Oentrai-stocK .••...••.••.. . . .••..••..••• .. } 2,275 Leased line 4 fer cent stock, guar ..•...•..••.•.. ( lht mort. o bondaof 1895 .. ··•· ·•·· 1 8 7 4 for 8terl. o '03, £10,000 dr'n yr.o• .$H,OOO,OOO Sterlinff. bonds of 1905 ......... } 706~ secures a.U 4s of 1 86, due 1951, gold ... o* 1 equally . .••. l 3:lgs of 1886, due 1951, gold . . o" l "Trnstbondssterl'g,(seoured by Ch.S.L.&N.O. cons.) ii.st M. on Ch. & 8-p. RR. l Gil~an to Springfield) o 111 let M ., Middle Div., Otto to Normal Juno. &brs .. r 131 -Collat. trmt b'ds, gold (for$15,000,000> $ & £ .. . o· 1 C'hio. St Louis & N. 0 ., 2d M. (N. O.J.& G. N.J .... 224 do do 1st mort ...••... .•..••.. ••. 567 2d mort . .................. 567 do do do do oons.M., 81($18,000,000).c*&r 567 do do Memphis iv. mort., gold ... o* 100 tlndiana Illinois ii Iowa-1st M. bonds, extended .. r 120 .2d•mortgage ...................................... r 120 fndianap.Decatur ii Western-T.D.& Sp.1st M.,g.s.f. 153 let M.,for -$1,942,000, g., ($1,800,000 reserved).o 153 2d M., (income non-cum. till Jan., 1893) ..• . ..... c 153 Income bds., non-cum., drawn at 100 ............ r 153 rterlln~ I l ---- 1887 $1,000 1,000 1887 l,COO 1887 1887 1888 1:000 tO 500 1854·7 1,000 1865 100 .... 100 £200 1875 £200 1874 £200 1875 1,000 1886 1,000 1886 £200 1886 1,000 1878 1,000 1881 1888 500&0. 1,000 1860 1,000 1877 1,000 1877 1,000 1881 l,COO 1~89 1,000 1882 500 1883 1,000 1876 1,000 1888 1,000 1888 1888 1,000 { ---- $8,064,000 3,919,000 4,305,000 1,108,620 (1) 3,355,200 783,000 1,497,000 40,000,000 10,000,000 2,500,000 3,750,000 1,000,000 1,500.000 2.499,000 5,266,000 1,600,000 968,000 15,000,000 1,480,000 1,374,000 80,UOO 15,060,000 3,230,000 600,000 40 .\ 000 1,800,000 142,000 1,213,000 795,000 5 g. 6 g. 45' 4& 5 g. 2¼onpfd 7 g. 5 3 2 6 g. 5 g. 5 g. 4 g. 3:lg g. 3:lg g. 6 5 g. 7 6 5 g. 4 g. 6 6 7 g. 5 g. 18 g. i J. & J. J. & J. A. &O. A. & 0. F. & A. J. & J. Various A.. & o. M.& S. J. & J. A. &O. A. & O. J. &D. J. & J. J. & J . J. & J. J. & J . F. &A. A. & O. A. & O. M.&N. J. & D. JUi&UUi J . &D. M.&N. M.&N. A. &O. A.. & o. J. & J. Oct. 1 N. Y., 23 Broad St. N. Y., Central Tr. Co. ··-······· New York & London. Phil. Of., 417 Walnut st do do do do N. Yd;14 Bro~~way. London. London,Morton R.& Co. do do New York, 214 B'dway. do do London,Morton R.& Co. N. Yd 214 Bro~~way. 0 do do do do do do do do do do do do N. Y.,Lookw'd Bros.&H. do do } Last paid Oct., 1888 { 1st coup. due July, 1893 .......... Julyl, 1937 Oct. li 1912 April , 1921 Oct. 1, 1897 Feb. l, 1938 Jan.18,1890 1890-1895 ~ril 1, 1895 ar. 1, 1890 Jan. l, 1890 April 1. 1895 April 1, 1903 Dec. 1, 1905 Jan. 1, 1951 Jan. 1, 1951 July 1, 1950 Jan. 1, 1898 Aug. 1, 1921 Atril 1, 1952 ct. 1, 1890 Nov. 1, 1897 lJeo. 1 1907 june 15, 1951 Deo. 1, 1951 Atwill. Nov.15,1903 Jan.l, 1906 Oct. 1, 1947 Jan. 1, 1948 Drawn at 100. I with the Mis8. & Tenn. (leased till the same time), to form the Memphis 'Div. 'Jhe Memphis Div. n:ortga :, e (trustee, U.S. Trmt Co.) also O( vers 13 locomotives and 300 cars. The stock ot the Dunleith & Dubuque bridge, $1,373,990, is owned. Fiscal year ends June 30. Annual •election is to Ile held in March in 1890, but thereafter in October. 8TOCKSANDBONDS-Jru:o 30, 1 889, there w ere htld by the company, but included in its outstanding debt as given above, $4,746,000 4 per cent_s of 1952 and $560,000 C. St. L. & N. 0. 5 PH cents of 1951, ex• •<llusive of the $5,266,0( 0 pled1-- ed to secure Ill. pent. 3¼ per cents of 1950. The-re were owned _also $2,097,215 Chicago St. Louis & N. O. motes on account ~f <;Jairo Bridges. On the Chio. St. L. & "!i· 0. the les~ee guarantees the prmoipal and mterest of all the outstanding.bonds pr101 to the 5 per cent bonds, and ~Y an endorsement on t~e latter. bonde guar~ntees the payment of the mterest on the same until th_e pr~noipal :is paJ.d. Of the first mo1;'1igage bonds, $5 41 ,000 are a prior lien Oli that portion of the road m Tennessee. The tJ,'Ust bonds of 1886 artsecured each one by a de i osit of a $1,000 bond of the Chio. St. L. & N •O. oo»sol. 5 p. o. mort. and they also have the agreement that they shall be secured by any future mort. that may be issued on th~ Ill. Cent,. lines. The collateral trust bonds of 1952 ar~ for an authorized a.mount of -$15,0CO,OOO, and srnured by pledge with the U.S. Trust C~. of N. of $16,350,(;>00 5 per cent 1st mortg. gold bonds of subsidiary rail• ,roads covermg 850 miles. Dividends paid since 1870 have been: In 1871, 10 per cent; in 1872, 10; in 1873, 10; in 1874, 8; in 1875, 8; in 1876, 8; 1n 1877, 4.; in 1878, ·6; in 1879, 6; in 1880 6; in 1881, 7; in 1882, 7; 1n 1883, 8 and 17 per ,cent in Chica~o st. iouls & New Orleans stock, exchangeable for lea.~line certificates: in 1884, 10; in 1885, 8; in 1886, 7:lg; in 1887 and 11888, 7; in 1889, 512; in March, 1890, s. Prices of stock yearly have been: in 1871, 132@139¼; in 1872, 119@ 140; in 1873, 90 @12612; in 1874, 90@108¼; in 1875, 88¼ @10612; in 1.876, 60 7a•il'103l\i; in 1877,4012@79; in 1878, 7238@87; in 1879, 7914@ lOOl\i; in 1880, 99¼@12738; in 1881, 12411146:lg; in 1882, 127l\i@l5012; in 1883, 124@148; in 1884, 1101b 140; in 1885, 1191!,@140; in 1886. 130@14312; in 1887, 114@138; in 1888, 113@123¼; in 1889, 106@ 1118~; in 1890 to Jan 17, lnolusive, 117~@119~. OPERATIONS AND FINANCES.-The company, to extend its business, acquired the line from Cairo to .New Orleans, and invested largely in Improving the property, and in 18S7 acquired the leased lines iii Iowa by purchase of theu- stoC!ks. From July 1 to Dec. 31, 1889, (6 mos.), ~ross earnings of whole sys• tern were $8,831,343, against $7,397,423 m 1888; net, less permanent expenditures, $3,390,785, against $2,453,472 in 1888. In 1889 the fl.s<'al year was changed to end with June 30, and the report for the six months Jan. l to June 30, 1889, was given in full in ..CHRONICLE, V. 40, p. 790. {Bee also V. 49, p. 773) It showed gross .earn-ings for the llalf-year on 2,275 miles, $6,430,829, against $5,451,593 in 1888 on 1,953 miles; net over expens •·s and taxes $2,403,458, .a."ainst $1,640,189. Total net income in 1889 (adding othu receipts) $2,821,553. Deduct: Interest on bonds, $733,087; rental Chio. St. L. .& N. O. RR., i752,625; pe1manent improvement!!, $100,410; total to •be deducted, $1,586,123, leaving 1mrplus $1,235,430, from which paid .l!ept. dividend $1,200,0CO. J, ne30, 1889, surplus dividend fund, applicable to future dividends, was $202,227, invested in 4 per cents of 1952. For 1888 the annual report at length was in V. 48, p. 273, 289, 293. The profits of the whole line are shown in the figures below, which includes the Iowa roads for the full years prior to 188@, though the n et •ellrnings f_o r the three mo11ths Oct. 1 to Dec. 31, 1887 ($197,922)_, ar:ci •deducted m the income account, showing t be proper balance to Illino1s •Central for that year. In 1888 the operations of the Iowa roads are, of •Course, excluded altogether. INCOME ACCOUNT 1885 1886 · 1887. 1888. 2 066 2 149 2,355 1,953 IR'd op'rat'd Dec. 31. '$ '$ $ $ ,o. · 8 12 621 264 12 529 494 13,5-16,288 11,822,476 _:::::: 5'994'635 5'999'790 6,235,347 4,675,134 Interest, &o......... '336'.593 '415:464 896,81:i l 1,760,692 T otal net. -• • • •··. - 6,3::H,228 - 6 , 404, 254 7,1 32 ,208 6 ,4 3 5, 82 ti r. N~s::=:f Di.sbursements- Relntn.otalnsill ...·c··eii:b··o'ii'd·s· Dividends........... Taxes....... . ........ Iowa roads... . ...... 1,901,038 544,400 2,720,000 556,074 • ....... 1,875,073 776,760 2,430,000 575,459 ........ r~~:ui 1,805,585 861,760 2,850,000 646,875 197,922 1,812,635 1,024,020 2,800,000 607,263 -······· ~=~!~~sa.~~•-t~--· 5~&i&~ 5g~:~n ~I~J~~ To1ial........ . ..... t>,331,178 6,395,661 6,998,633 6,708,646 Balance, surp!us.... 50 fl,593 133,575 def.272,820 ·~ u d e s interest on bonds of leased and subsidiary lines. -(V. 48, p. 112, 128, 251, 273, 289, 293. 368, 45?, 855; V. 49, p. 52, .316, 471, 77'3, '790.) Ollnols & St. Louls.-Owns Belleville to East St. Louis, ill., 15 miles; branches to coal mines, 4 miles; total ownea, 19 miles; leases '.V enice & Caron. RR., 6 miles cand guarantees the bonds); total operated, 25 miles. Capital stock, !t900,000 preferred and $617,000 common; .:ra.r, $100. In year ending June 3o, 1887, gross earnings were $204,406; net. $98,247; surplus over all interest , $48,984; in 1887·8 gross were $235,507; net, $103,176 ; surplus over fixed charges, $57,698. ..Road has gone into Louis. Evansville & St. Louis Consolidated. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Indiana Illinois & Io-wa.-Completed and in operation from Streator, ill., to Knox, Ind., 120 miles. Stock, $3,598,000, par $100. Holders of firstmort. bonds due Nov., '87. agreed to an extenslon, subjeot to call. In year ending June 30, '87, gross earnings were $188,704.; net, $ 12,893; surplus over obar11:es and improvements, $1,052. Gross in 1888, $ 243,569; net, $13,896; d eficit under fixed charges, $16,104. F. M . Drake, President. Centreville, Ia. Indianapolis Decatur & western.-Owns from Indianapolis, [nd., to Decatur, m., 153 miles. It was contemplated to extend the road westward to a connection with other important systems. This company ls successor to the Ind. Dec. & Spring. RR., sold in foreclosure May 25, 1887. The capital stock is $1,000,000. Of the new 1st mort. bonds, enough are reserved to i etire the old I.D. & a. lsts, which are subject to a. smking fund of $40,000 yearly, dependent upon earning@. The 2d mort. 5s are non-cumulative income bonds for five years. Interest due Aprill, '89,was defaulted, and in July road was turned over to trustee& of I. D. & S. mortgage, and a committee of bon!iholders was appointed and a plan offered. tV. 49, p. 114, 580 ) Trustee of first and second mortg-ages, Farmers' Loan & Trust Company. In year ending March 31, 1889, gross earns. were $425,lj36, net $98,481. N. Y. Office, 2 Wall St.-(V. 4.7, p. 626,708; V. 48, p. 462; V. 49, p. 22, 114, 206, 341, 402 580 654- 718 824.> ' ' ' ' . In~anapolls & Vln~ennes. -Owns from Indianapolis, Ind., to Vmoenn~s, Ind., 117 miles; branch, Bushr~d t_o Dugg~, 12 miles; total, 129 miles. The Penn. Co. !)WilS a con~olling mtere~t m the stock: and operates the road, advanomg the defi01ency to pay mterest on the bonds. The capital sto~k is $1,402,000; p_a r, $50; due Penn. Co. Deo. 31, l~Se, $1,990,653 . .1n 1888 gross earmngs, $4.51 1251; net, $34,364; deficit under lntereat, etc., $176,147. Annual mterest on debt, $203,120. low-a Central.-Owns from Albia, Ia., to Northwood, la., 189 miles (of which 12 miles, Manly Juno. to Northwood, is leased to Burl. Cedar Rap. & Nor.); Oskaloosa. to Iowa Juno., 184 miles (in 63 miles of this, Moumouth June. to Iowa Juno., company bas one-half undivided interest); Grinnell & Montezuma Branch, 14 miles; Story City Bra.nob, 36 miles; State Centre Bra.nob, 28 miles; Belmond Branch, 22 miles; Newton Branch, 28 miles; total owned (and covered. by mortgage), 501 miles; leases Manly June. to Lyle, 20 miles and tracks at Missie· sippi River, 3 miles; trackage, Iowa Juno., ill., to Peoria, ill., 3 miles; total operated, 515 Dllles. Chartered as Central RR. o:I' Iowa and opened in 1871. Reorganized as Central Iowa June 18, 1879, after foreclosure sale under first mort~age. In October, 1884, default was made in payment of interest, and m 1888 company reorganized uuder present title according to plan. stated in CHRONICLE, V. 44, p. 653. Foreclosure s::.fo of the Eastern Division and branches was mad1' i:!ept. 17, 1887; of the marn line Nov. 9, and of the illlnois division March 17, 1888. Trustee of 1st mortgage Mercantile Trust Co. See abstract V. 49, p. 5S2, Common stook. is $8,600,000; preferred, $5,600,000; par of both, $100. On Dec. 1, '89, the interest due n Keithst,urg Bridge bonds was not paid. V. 49, p. 790. From Jan. 1 to Nov. 30 in 188~ (11 months) gross earnings were $1,380,634, against $1,257,601 in 1888; net, $395,389, against $168,· 689. The fiscal year ends Dec. 31. Income bas been as follows: 1886. 1887. 1888. Gross earnings.... . • ••. ••• $1,323,625 $1,352,526 $1,363,531 Net earnings.............. $171,196 $174,373 $37,509 -(V 47 p 531 663 745· V. 48 p. 70 159 589· v. 49 p. 234 402 582 ) ' · ' • ' ' ' ' ' ' ' ' ' 760 J. k vlll S th t fr J k -"11e ac son e ~u ea~ ern - Owns o~ ac son~ ill. to Centralia., Ill., 112 miles; Chicago Peoria & St. Loma Railway (Pekin to Jacksonville and Havana to Springfield, Ills.) 120 miles; Louisville. & St. Louis Railway (Centralia to Drivers) 17 miles. Leases Pekin to Peoria 10 miles; Drivers to Mt. Vernon 5 miles. Operates Litchfield Carrollton & Western RR. (Barnett to Columbiana), 52 miles. Total, 316 miles. Ex.tension is prop sed of about 50 miles, Litchfield to St. Louis,andtheC. P. & St. L.willis<>u e itsbonds at.$15,~00 per mile. (V. 48, p. 729.) Chic. P. & St. L. bonds were d escribed m CHRONICLR v. 48, p. 223. Earnings on the sy..tem for year enaing June 30, 1888t were ~roi:as, $513,772·; net, $211,882; surplus over interc,st ann taxes,"$121,534. For the Chicago Peoria & St. Louis Railway, from July 1 to Oct. 31, 1889 (4 mos.), gross earnings, $146,656, against $114,967 in 1888; net $61,579, against $46,743; from Feb. 1, 1888, to March 31, 1889 (12 months) gross earn's were$322,822; net, $129,661; · and in the year ending F eb. 1, '88, gross earnings were $287,543; net, ~hl;,·i8~cv°.1'~~~8p~ieM,nJ;;~sl$t8~'~?i22~~fat 1~8~· Pres't, Jaokson- Jacksonville Tampa & Key West.-(See Map)-Line of road J acksonville, Fla., to Sanrord, 126 m.; Enterprise branch, 5 m. Deland branch, 6m. Leases At. Coast St. Johns &I. R., Enterprise to Titusville, 37 m.; Florida Southern (3 ft. gauge), Palatk a, Fla., to Gainesville, 50 m .; Rochelle to Leesburg, to Brookville, 106 m.; Bartow to Punta Gorda, 81 m.; Leesbur~ to Astor, 50 m .; other branches, 23 m.; total, 3 10 m.; St. John s R'y, 't•ocoi, Fla., to St. Au.e:mtine, 15 m; St. Augustinf & Palatka Junction RR. Junction. Fla., to P alatka, 23 m .; St. Johns & Halifax RR., Palat k a , Fla, to D aytona•, 52 m.; other mileage, 11 m, ; operatesJaoksonville,St.Augu~tine &Halifax,37 m.; Sanford & Lake Eustis RR., San~ord to Tavares, 29m.; total operated, 651 miles. This road forms a link in the Atlantic Coast line runnin~ from Jacksonville to Sanford. Florida, and via. South Florida road to Tampa, w hence INVESTORS' SUPPLEMENT. 70 [VOL. L.. .Et.."YJnwno MAP OF THE JACKSONVILLE, TAMPA ~ KEY WEST RAILWAY & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, RAILROAD STOCKS AND BONDS. 1890.] Sub ■ cribers w-n1:conCer:a·great Cavor by giving illlllledlate notice:oc any DESCRIPTION. errorZdl■covered 71 in these Tables. Bonds-PrinotMiles Date Size, or Amount pal,When Due. For explanation of column headings, &c., see notes 01' of Par Outstanding Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds. Value. Cent. Payable Whom. Dividend. Indianapolis d! Vincennes-1st mortgage, guar .... o ·2d mortgage, guaranteed Penn. Co ..•...•...•.... o Ioica fJentral-lst M., gold, $15,000 p. m ..••..... c* .Tacksonville Southeastern-1st mortgage . . ....•... c* INTEREST OR DIVIDENDS. 117 117 501 54 112 120 120 52 17 130¼ General mortgage ................. .. ....••.•••... c* · Chic. P eoria & St. L. RR., 1st M., guar ...••..•.. c* do do 1st consol.. . ... .. ..... c · Litchfield Carroll. & W. RR. . 1st ($10,000p.m.) c* Louisville & St. Louis RR. Co ................... c* Jacksoni,ifle Tampa c1; Key West-lst,g. ,r€.d.at 110.c* Collat. Tr. loan on Fla. So. stock and bonds ..• • . -leJferson(Pa.J-lst& 2d Ms. exten, (Hawley Br.Le 1st m. Carbondaleto8.depot,37m.g. gd. nr.&int.c* 37 le:trvilleMad.&Ind.-lstM.(s.f.$15,00u,dr'natllOJc 159 · 2d mortgage .•........•..••..••..••..........•.... c 159 Joliet d!Northernindiana--lstM.,fru.ar. by M. C .. . c 44 Junction (Ph'iladelphia).-lst mort. (extended) ..•. 3·56 2d. mortgage ..•..••..••...•.......•..........••...• . 3·56 i Kanawha&! Ohio-1st m()rt, <$10,000 p. m.) ..•... c* 127 Kansas Central-1st mortgage ..•..........•..•...... 168 Kan. Oity .A.rlc. cl: New Orl.-lst M.,($4,000 ,000) g.c* Kansas Oily Belt-I st ($4.80,000 gu.K.C.F.8.&MI .c.. ·i·o Kansas Oity Olinlon d! Spring.-Ist, M., g., guar. cK 174 Pleasant Hill & De Soto, 1st mort., gold . .• . .. .. c* 45 Kan. O.Ft.S.&Mem.-Stock($2,749,700is 8 p.c.pref.) 752 Preferred stock 8 per cent ..........•.......••..••. 752 Consol. mort ( $25,000 per mile) not drawn ... c* 671 K. C. F. 8. & G. 1st M., ld. gr., s. r., dr'n at 110.c* 160 do Morts. ~mar. (part dr. at 105) .. c• 202 do Kan. & Mo. RR .. •. ..... . . ....•. c* 26 K. C. Ft. S. & G, Ten.year coupon notes ...•....... Kan. City B. &M.Plain b'ds (red'ble at 105), gu. c* Current R tv. RR., 1st mort. $20,000 p.m.guar .. ···s 1867 $500&.c. $1,700,000 7 F. & A. N. Y.,Farm. L. & T. Co. Feb. 1, 1908 1,000 1870 1,402,000 6 M. & N. do do May 1, 1900 1,000 1888 5,900,000 5 g . J. & D. N.Y.Cit;r,Merc. Tr'st Co June 1, 1938 1,000 1880 300,000 6 J. & J. N.Y.Am.Ex.Bk.&Phila. July 1, 1910 1882 1,000 1,115.000 6 J. & J. do do July 1, 1912 1888 1,000 1,500,000 5 g. M. & 8. do do Mar. 1, 1928 1,000 1889 300,000 5 M. & N. N. Y., Amer. Ex. Bank May 1, 1939 1,000 1886 516,000 ~ g. J. & J. N. Y., Han. Nat. Bank. Jan. 1, 1916 1887 1,000 247,000 ~ A. & O. do do Oct. 1, 1927 1884 1,000 1,566,000 6 g. J. & J. N. Y. Mercan. Trust Co. Jan. 1, 1914. 1,000 1888 2,900,000 3-4-412 F. & A. Bost., Am. Loan&'lr.Co Aug., 1898 1867 300,000 419 & 6 J. & J. Phila., Fidelity Tr. Co. July, 1927 1,000 1,000 1889 2,800,000 5 g. A. & O. N.Y.,N.Y.L.E.&W.RR. Jan. 1, 1909 1,000 2,522,000 1866 7 A. & O. N. Y., Farm. L. & T. Co. Oct. 1, 1906 1870 1,000 1,995,000 7 J. & J. do do July 1, 1910 1877 1,000 800,000 7 J. & J. N. Y., Farm. L. & T. Co. July 10, 1907 1,000 425,000 1882 4¼ J. & J. Phila.• 233 Bo. 4th St. July 1, 1907 1,000 1865 300.000 6 A. & 0. do do April 1, 1900 1,000 1886 1,160,000 6 g. J. & J. In default. Jan. 1, 1936 1,000 1891 1,348,000 ti A. & O. Oct., 1886, last paid April 1, 1911 (1) 1888 1,000 6 g. A. & 0. London. Oct. 1, 1928 1,000 1886 1,855,000 6 J. & J. Boston, 26 Sears' Bldsr. July 1, 1916 1,000 1885 3,192,000 5 g. ~- & O. Boston, Merch'sNat.Bk, Oct. 1, 1925 58,000 1877 500 7 g. A. & O. do do Oct. 1, 1907 100 9,960,000 1¼ F. & A. B03ton, 26 Sears' Bldg Aug. 15, 1889 100 2,750,000 4 F. & A. do do Aug. 15, 1889 1,000 11,4.07,000 6 M. & N. Bost., Nat. Webster Bk. Mav 1, 1928 1 879 100 &c. 2,247.000 7 J. & D. do do June 1, 1908 '80·'84 1,000 1,040,0 00 7 M. & B. do do Se,pt. 1, 1910 1 B82 1,000 390,000 5 F. & A. do do Aug. 1, 1922 320,000 85&86 5,000&c 6 . . •. Boston, 26 Sears' Bldg. Dec. 1895&'96 l8 -i4 1,000 500,000 6 M. & N. Boston Nat. Union Bk. May 1, 1894. 1887 1,000 1,606.000 5 A. & 0 . do do Oct. 1, 1927 isss steamer s run to Havana. The road was opened March, 1886. The land grant is about 1,500,000 acres. The bonds may be redeemed before maturity at 110. Stock is $2,600,000. In October, 1888, an important agreement was made for control of the Florida Southern on January 1. 1889, and the iEsue of a collatnal trust loan for $2,905,000 on that company's st o '.'k ,?.nrl bonds. 'Ihis loan bea1 s 3 p er cent interest till 1890, 4 per cent tm 1894 and 419 per cent for the remainin~ 5 years . See V. 47, p, 531. From Jan. 1 to May 31 (5 mos.) gross earnmgs were $219,5 22, against $203,710 iu 1888; net, $79,68~, against $43,806. In tbe year ending Dec. 31, 1888, the grosA earnin,gs were $450,502; net, $133,137. N. Y. office. 10 Wall St.-:-(V. 49, p. 235.) Jeff'erson.-Owns from Susquehanna Depot, Pa., to Carbondale, Pa., 37 miles; branch, Hawley, Pa., to Honesdale, Pa., 8 miles; total, 45 miles. Leased in perpetuity to .the N. Y. Lalrn Erie & Westtirn for $140,000 p er annum for m ain line and $15,900 for branch. Tll e mortg1age ot 1888 ltrustee, Fid. Ins. Tr. & 8. Dep. Co., Phila.,) provided t'or st M. 7s and for double•tracking 37 miles. It is guaranteed princip al and interest by le, see. The Hawley branch 2ds, $96,000, due in 1889, were extended at 6 per cent. Capital stock. $2,096,050; par $50. Samuel Hines, President, Scranton, Pa. (V. 47, p. 745,) Jeffersonville lUadlson & Indianapolls.-(See Map of Pennsylvania RR.) -Owns from Louisville, Ky., to Indianapolis, Ind., 111 miles; branches-Madison, Ind., to Columbus, Ind., 45 miles; Colum• bus, Ind., to Shelbyville, Ind., 24 miles; .Jeffersonville, Ind., to New Albany, Ind., 6 miles; Shelby & Rush RR.. 18 miles; leases Cambridge Extension, 21 miles; total operated, 225 miles. The road was leased to Pennsylvania Company from 1873, with a guarantee of interest on bonds and 7 per cent on stock. Lease was modified from January 1, 1880, the lessees to pay OYer all the net earnings of the J. M. & I. proper. The stock 1s $2,000,000, and the Pennsylvania Co. owns ~1,981,600. Sinking fund, $15,000 yearly, draws 1st mort. bonds at 1 10. In 1888 gross earnings, $1,366,317; net, $239,179; deficit under interest, &c., $101,413.-(V. 47, p. 410; V. 49, p. 433.) Joliet & Northern Indiana.-Owns from Joliet, Ill., to Lake station, Ind., 45 miles. Operated as part of the Michigan Central main line. Road opened in 1854 and leased to the Mich. Cent. Stock ($300,000) carries dividends of 8 per cent ver annum. Junction (Philadelphia).-Owns from Belmont, Pa., to Gray's Ferry, Pa., about 4 miles. It connects the P enna., the Phila. & Reading andlthe P. w. & B. RRs., coming in Philadelphia. stock $ -Z50.000; par · $50. Gross earnings in 1888, $269,925; net,$160,727. Large dividends 'd o i 1885 20 · 188 O• 30 · 1887 ' are pa id · I n 1 88 4 pai 4 p. c., n ' p. c., m p. c., m • a nd l8o8 45 p. c.; in 18 8 9 50 P• c. Kanawha & Ohio -Cornin~, Ohio, to Charleston, W. Va., 129 miles. The Ohio Cent. Riv. Div. defaulted on Interest Sept., '83, and was sold Oct. 22, '85, and this company organized. (See plan, V. 40, p. 3 !' 6.) lflll,000 lat mort. bonds are r eserved to retire the Ohio Cent.' Mineral Div. bonds. In Feb., 1889, Robert W. Kelly was ap• pointed receiver, and Dec. 10 a decree of foreclosure was tiled. (Bee V. 4.9, p. 7 89 ) Common stock authorized $2,200,0uO; 1st pref., $6,000,. 000; 2d pref., $4,000,000. Office, 2 Wall Street, N. Y. Grinnell Burt, Pres't.-(V. 48, p. 251,688; V. 4.9, p. 206, 789.) Kan sas CentraJ.-Owns from Miltonvale to Leavenworth, 166 mile. Sold under foreclosure of fl1·st mortgage April 14, 1 879. R eor• ganized April, 1879; on April 1. 1887, default was made. Gross earnings in 18H8, $13fi,8.63; def. under interest, &o., $150,050. Gross earn ings in 1887, $1'78,ti50; d ef., $ 33,614; def. under interest, &c., $ll4,494. Stock. $1,347,000. Union Pacific holds $1,313,400 of the stock .and $1,347,000 bonde. (V. 45, p. 53.) /Kansas City Arkansas & NeW' Orleans.-Under contract to be 'built from Bee be, Ark., to Monroe, La., 200 miles; branch to Pine Bluff, -2,8 miles; t ot al, 228 miles. Being built by Chicago & Arkansas Railway ,Construction c o., of Chicago, which owns the stock ($5,000,000J. Ro ad .to be completed by Jan. 1, 1891. Trustee of mortgage, Farmers' Loan & Trust Co. Bonds are convertible into stock at any time within ten years atter completion of road.-(V. 48, p. 46t; V. 4~, p. 718.) Kan sas City BeJt.-From Argentine to Washington Park, 10 miles. Mort,!:r nge is for $2,500,000. Stock is $100,COO; owned one· half by Atchison Topeka & Santa Fe and one•quarter each by Kansas City I< t. Scott & Gulf and Cbic. Mil. & St. Paul. Double-tracked and .used for a terminal road at Kansas City. 'Kansas City Clinton & Springfleld.-Owns from Cedar .June., ·Kan. to Ash Grove, Mo., 164 miles, and branch to Pleasant Hill, "do., 10 miles; total, l 7 4 miles, but only 163 miles operated. Built in the interest of K. C. Ft. 8 . & G. RR., which company guara ntees the bonds. In Jan., 1885, tbe Pleasant Hill & De Soto road, 45 miles, waspurchaAed from Atch. T op. & S. Fe RR., the K. C. C. & 8 . Co. asrnming the bonds. Stiock authorized, $2,500,000; par, $100; issued, $1 ,775,4.00. of whicll a majority is owned by the Kan. uity Fort Scott& Memphis RR. In 1887 ~ross earnin gs were $261,675 : net, $9 9,456; def. under int., $68,738. In 1888 gross earnings, $274,135; net, $106,981. Kansas City Fo1·t Scott & Memphis.-Owns main line from .Kansas City, Mo., to Memphis, 'l enu., 487 miles, with branches, 184 m.; total owned, 671 miles; lP.ases-Currt-nt River RR., Willow Springs, .Mo., to Cairo, 81 miles; total operated, 752 miles. Company formed in https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis April, 1888, by consolidation of the Kansafl City Fort Scott &' Gulf and Kansas City Spring. & Memphis railroads, the Kansas City Fort Scott & Gulf Company having oeen organized April 1, 1879, as successor to the Mtssouri River Fort Scott & Gulf, foreclosed. The consolidated bonds of 1888 (trustee New England Trust Co. of B oston) will retire all the a bove bonds f'xcept tho~e on the Current River HR., 81 miles, which is not covered by the consolidated mortgage. The guaranteed 7 per cent bonds due Sept. 1, 1910, are on t he following leased lines: Fort Scott Sontheastern & Memphis. 103 mlles, at $15,000 per mile; Rich Hill Road. 28 miles, at $13,<135 per mile; Short Creek & Joplin Road, 22 miles, at $14,209 per mile; These bonds are guaranteed, principal and interest, and have a sinking fund of 1 per cent of whole issue annually, with which bonds are bought at 110, or, it n ot offered, are drawn at 105: also the bonds of Memphis Kansas & Colora<to RR., 26 miles. at $15,000 per mile, without @inking fund. The Current River RR . bonds are guar.; they were issued as per circul ar in v. 44, p. 24.6. The K. C. & M. Railway & Bridge bonds were offered to stockholders in June, 1889, at 95, and will be subject to sinking fund drawings after 1 891. Dividends eince 1880 have been: On common - iit 1882, 2 per cent; in 1883, 3; .in 1884, 512; in 1885, 212; in 1 881>, 4; in 1887. 412; in 188S, 3¼; in 1889. 3; on preferred-in 1881, 812; from 1882 to date, at the rate of 8 per cent yearly. Fiscal year chan~ed to end June 30. The annual report for 1888·8S> showed the followtn~: Gross receipts (including other income, $83,058) ..••.•••.•••. $4,628,625 Opel'ating expenses and taxes .......••...••.•.••..••• :........ 3,027,510 Net earnings ..•..••••••••. ········-················· .•..••..••• $1,601,115 Charges (including interest, sinking funil and traffic guar).. 994,537 Balance for dividends ....••.........•......•..•.•••. , ...••• Paid 8 p. c. on pref. and 3 p. c. on common .•..••..••..•••..•• -$606,578 516,924 Balance, surplus··········································· $ 89 , 654 -(V. 47, p. 140,352,708; V. 48, p. 189,632,801; V.49, p. 173, 404.) Kansas City Mem.phls & Birm.ingham..-0.wnsfromMemphis to Birmingham, Ala., 251 m. aud spurs ~5 m.; completed in October, 1887. Bonds for $25,000 per mile are issue<l. Tt.e New England Trust Co. is trustee under the mort.; abstract V. 46, p. 575. Tbf'. F.'lnipment Co. bonds are guaranteed by the K. C. M. & B., and are r edetmable on 60 days' notice at 110 and interest. T11e K. C. Springfield & Memphis owns half the stock and gives a traffic guarantee of 10 per cent of gross earnings derived from business to and from the new road, to be applied for interest. The bonds may be drawn or bought at 110. Stock $5,956,000; par, $100. (V. 45, p. 472,575; V. 46, p. 200.) Kansas City & Pacific.-Owne Coffeyville, Kan., to Paoh, 125 miles. Stock outstandin.!\', $2,500,000. In June, 1889, the reC'eivers of t he Mo. Kan. & T e:xa".I entered into a traffic agreement for the opera• tion of this l'Oad, under which agreement they took posse~sion .July 8, 1889, and are now operating It as part of their t hrough line to Kansas City. Vice-President, W. H. Wolverton, New York City. Kansas City Wyandotte & N orth'Western.-( See Map. )-Road from Kansas City to Beatrice, Neb., 375 miles, 26 miles of this (Seneoa to Axtell 12 miles; Virginia to Beatrice, 14 miles) being leased, the former for 99 years from St. Jo. & Grand Island and the latter for 999 yeal's from C. R. I. & P. Owns brano tl to Leavenworth and Fort Leav• en worth, 16 miles, and other branches, 4 miles. Operates, under 99 years lease, line from Tonganoxie to Carbondale, 43 miles. '..Lotal, 239 miles operaterl, Mort. of 1888 (trus .• Fal'mers' Loan &Trust Co.) is limited to $3,750, 000. The cousol mort. (trus., N. Y. Security &Trust Co.) allows bonds to be is•u "d a t $15,000 p. m. for new 1,ingle track completeJ, $8,000 p. m. for double track, $3 ,000 p. m. for equipment. $Z,500 p . m. for track (nP.w or old) ballasted, and further amount:'! for terminals, etc. Of the total b nds authorized u nder it ($7,500.000) $3,750,000 are reserved to retire by exchange the 1st mort. bonds. Stock issued $2.670.000; par, $100; car truAt debt , $296,863. Company holds $138,000 bonds of Leav· eoworth R. T. R'y. Annual report for 1888 was in CHRONICLE, V. 48, p. 291. Jan. 1 to July l, 1888 (road partly under construotion) gross earn• ings, $112,773; July 1 to D ec. 31, 1888, gross were $181,52 J; net, $72,· 659. 'J.'hese earnings do not include any receipts from trackage rentals. Jan. 1, 18 :39, to Juue I, 18 9, net earningsincl'g rentals, $73, 083. New· man Erh, Vice-President. K ,msas City. Mo. (V. 46, p. 678. 819, 829; V. 47, p . 21, 709; V. 4.8, p. Z9I, 292, 633, 662, 801, 855, 857; V, 49, p. 22, 261, 654.) Kentucky Central RalJway.-Owns from Covington, Ky., to Rouncts rn ne (less a miles l eased), 148 miles; Par is to Lexington, 19 miles; Paris. Ky., to Maysville, Ky., 49 miles; total ownetl, 217 miles; leases R ichmond to Rowland, 34 miles; Roundstone to Livingston, 3 mile~; total operated, 254 miles. '.rhis was formerly the Kentucky Central Railroad, which was sold in foreclosure April 2 .{, 1837, and tbe present company organized, with stock of $7,000,000 ($6,851,600 issued); par $1UO. See abstract of mort. (Met. Trust Co. of New York, Tru11tee), v. 45, p. 372. The co mpany leased of theLouisv. & Nashv. RR. its Richmond branch for 99 years from Jan. 1, 1883, for $24,000 per annum, with a right to l)Urchase at any time for $400,000. The Mays• ville Division is leased for $28,000 per year, but tll.e stock is all owned • in, lll\sville . •\J~)" MAP OF THE KANSAS CITY, WYANDOTTE AND NORTH-WESTERN RAILROAD & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis N D T E R: o1iVlll' 00 ~ 0 0 8 00 .Allendale 0 :Bland 0 .A1toonaJifaxJuea K ,...., ~ MAP OF TH~ KENTUCKY UNION RAILWAY ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AND CONNECTIONS. Shac/eil /in n -Timber, CmmP-1 ,t': l'oki11r1 Coal &gio11, in 10/tich a,-e lucated 500,000 acre~ u/' th e l'o. Lantis. r ~Corbin _g I 74 INVESTORS' SUPPLEMENT. [Vo~ L, Subscrl·bers -will conCer a great favor by giving Immediate notice oC any error discovered In these Tables. Bonds-Prmc1 INTEREST OR DIVIDENDS. DESCRIPTION. Miles D ate Size, or Due, Amount Rate fer When Where Payable, and by pal,When For explanation of column headings, &c., see notes of of Par Outstanding Stocks-Last on first page of tables. Road. Bonds Value. Oen . Payable Whom. Dividend. li.an. Oily Ft. Scott & ,l femphis-( Oont'd). Kan. C.&M. R'y &B'dgelstM. g.s.f.dr'n atll O.c,. Kan. O. Memph. & Bir.-lst M. (drawn at 110) .. c• do Bir. equip guar. (redeem. at llO)c.. Kansas Oity cf Pacific-lat mortg-age ..•...•.......• c Kan. 0. Wyand'e& N. W.-M.$19,000p.m.,g.,$&£.c~ Consol. mortgage for $7,500.000, gold ........ . c* Kan. City & Beatrice, 1st mor t., gold, guar ...... c Kentucky <. entral-Covington & Lex. mort., extend. Maysville & Lexington RR. mortgage ..••.•....... New mortgage, gold ($7,000,000) .•••.........•. c* Kentucky Union-lsr, mort. for $3,000,000 .... . . c• Keokuk & Df's Moine.~-Ist M.,int .guar. C. R.I.&P .c* Keokitk ~ Western-Common sto ck ...............••• Kings Oo. Elev.-lst M., g.,ser.••A." $550,000p.m:c* 2dmort. (£7,0W,000), $350,000 p. m .•....•.... c* Fulton Elev., 1st M., $ 550,000 p. m., g., euar .. c* Kingston & Pembroke-1st M.,,iold(redeem·. at 105) Knoxville Oumbtrland Gap w ouis.-lst M., g .. c• Lackawanna & Southwestern Mort. (for $300,000). Lake Erie.Alli ance & South.-lstM.for $1,250,000 c* Inc. bonds, non-cum .. g. (red. after '97 at 1 06) . . c* Lake Erie & Western-Com. stock, $20,000 per mile. Preferred stock, 6 p. c. (not cum.) ($20,000 p. m.) lat mortgage, ~ld ($10,000 per mile, .......•.. c* Lake Shore & Mic igan Southern-Stock .•••.•••.. .. Guaranteed 10 per cent stock ..•............•..••. Oonsoi. 1 ~~mort. sink.fund, $250,000 y'rly { c&r Cc.n.sol. 2d mort., do. (for $25,000,000) ....•••• c & r La.ke Shore dividend bonds ..............•...•.... c 8d mort. (Clev. Painesville & Ash. RR.) .••..... r 1 - - · - - - · - -· 276 i25 1 34 "35 80 49 220 i62 172 6 6 i"is 68 110 60 60 589 589 589 1,3.U 1,341 864 864 864 258 95 ---· --- 5 g. 1889 $1,000 $2,500,000 1 ,0: 0 1887 6,893,000 5 6g. 1888 1,000 959,000 1887 2,125,000 1,000 6 1888 1,000 3,071,000 5 g. 1889 500 &c. (1) g. 1889 500 400,0 GO 1 855 1,000 219,000 5 & 6 1876 1,000 400,000 7 1887 1,000 4g. 6,523 000 1888 1,000 2,500.000 6 2,7 f.0,000 1878 100 &c. 5 4,000,000 1 iss5 1:000 3,377,000 5 g. 1,000 2,432,000 1888 5 1,000 1889 1,250,000 5 g. 1 8'32 1,000 572,000 6 1,000 1888 1,500,000 5 g. 1,000 1889 800,000 5 1887 1,000 6g. 346,000 1,680,, 00 1,000 1887 6 g. 100 11,840,000 .... 100 11,840,000 1 i887 1,000 5,920,000 5 g. 100 49,466,500 2 & 1 ex. . ... 100 533,500 5 is10 1,000} 15,041.000 7 1870 1,000 14.9,000 5 1,000 24,692,000 1873 7 1869 1,000 1,356,000 7 1,000 1867 920,000 7 g I B oston. Oct. 1, 1929 1vr.·&·s Boston, Merell. Nat. B k. Mch. 1, 1927 M. & S. cto do Mch. l, 1903 M.&N. N.Y.,Farm.L'n & Tr.Co. May 1, 1927 J. & J. N. Y., Western Nat. Bk. Jan. 1, 1938 J. & J Jul.v 1, 1989 J·. & J. N. Y. SPc . & Trust Co. July 1, 19i9 J. &D. N. Y., Office, 23 Broad June, 1890 J. & J . do do 1906 do July l, 1986 do J. & J. J. & J . N. Y.,Mercantile Tr. Co. ,luly 1, 1928 A. & 0. ~- Y., 13 William street Oct. 1, 1923 N. Y., John Pat on & Co. April 2, 1888 J ..&..J . N. Y., Am. Ex. Nat Bk. Jan . 1, 1925 April 1, 1938 A. & 0. ........... Mch. 1, 1929 M. & S. J. & J. N.Y., R. P. Flower & Co. ,Tan . 1, 1912 J . & D. Lon.,C.J.Hambro&Sons June 1, 1928 19~ 9 J. & J N'. Y. Office, 48 Wall St. None paid. Jan. 1, 1917 J. & J. Jan. 1, 1917 .... . ........ .. ... --· ---···-··· New York. Q.-F. .T. & J. N. Y., Chase Nat. Bank. F. & A.. N.Y.,Grand Cent.Office. F. & A. do do Var. Q.-J. J . & D. }see page followln,i.{ A.. & o. A.. & o. Feb: ·i,i: ·i890 Jan. 1, 1937 F eb. 1, 1890 Feo. 1, 1890 July 1. 1900 Oct., 1890 Dec. 1, 1903 April 1, 1899 Oct. 1, 1892 sold in foreclosure Dec., 1886, in the interest or the bo udholders and reorgimized Jan., 1887, under above name. It is proposed to ex:tend the road East and North to Fairport, on Lake Erie. Stook is $2.000,000; par, $100. The 1st mort. is sul)ject to the lien of $150,000 bonds of the Alliance & Lake Erie RR. on road 1'rom Pbalarrx: to Alliance. 21 miles. The balance of 1st mort. bonds . is r tserved for extensiorn'I, at $25,000 p er mile. In year ending June 30, 1888, gross earnings. $56,726; net, $12,131. A. L. Griffin, President, Pit tsburg, Pa.; . L. M. Lawson, Treasurer, 102 Broadway, N. Y. Lak.e Erle & We11&ern Kailroad.-(See .Map\-Owns rrom Sandusky, O., to P eoria. Ill., and branch to Minster, 428 miles, and from Indianapolis to Michigan City, 161 rciles; total, 589 miles. This is the new company formed in 1887 after foreclo omre (on Dec. 14, 18S6,) of the Lake Erie & Western railway, which had been made u p by a conTotal. .•...•...•..••••..••..••.••• , ...•......•. .•.••• $363,239 solidation, Dec. 12, 1879, of the Lafayette Bloomington & Muncie and Surplus over charges .... .•• . . ... . ... . . . . .•• . ...... $124,874 the Lake Erie & Western. In March, 1887, purchased the Iudianapolis -(V. 45, p. 112,372,373; V. 46, p. 200, 412, 802; V. 4.8, p. 489,) Peru & Chic. road, 162 miles. Kentucky Unlon.-(See Map.)-Road in progress from Lexington, Abstract of mortgage (Central Trust Co. and A. L. Mason, trustees), Ky., to Big btone Gap, 124 miles, connecting with Norfolk & W• stern, ln V. 4 6, P, 45. Louisville & Nashville and south Atlantic & Ohio. Io oper atiorr be· A :first dividend on pref. stock of 1 p er cent was paid in F eb., 1890. tween Winchester and Olando, 34 miles. Stock authorized, $5,000,000, Range of stock prices since reorganization has been as follows : of which the counties of ClarkandFayetteandcityofLextngtonhave Common in 1887, 1311,24'½!; irr 18 ~8. h12'all91s; in 1889, 16@20 3s: .in subscribed $300,000. An issue of bonds to the amount of $3.000,000 1890 to Jan. 17, inclusive, 17 34@1812. Preferred in 1887, 39¾1i!61; in has been authorized, covering road and equtpment. The authol'ized 1888, 40141iJ5!) 7s; in '89, 513s1i!66 14: in '90 to Jan.17, incl., 6234@6538. stock is $5.000,000. The following are directors: F. D. Carley, H. c. From Jan. 1 to Nov. 30 (11 mos.) 1n 1889 gross earnings were ;i;:.!,2UO,· McDowell, st. Job.n Boyle, L. T. Rosengarten, A. P. Humphrey, w. R. 511, against $1,9(58,618 in 1888; net, $917,705, against :i,728 ,3 98. Belknap, John M. Atherton, George M. Davis, c. H. Stoll and R. P. The annual report for 1888. was ln V. 48, p. 367. The preliminary Stoll, all of Louisville and Lexington, Ky. (V. 49, p, 2 27, iHl.) statement Ior 1889 compares with 1888 as follows: Keokuk & Des 1'.Ioines.-Owns from Keokuk, Ia.. to Des Moines, . 1888. 1889. Ia.,_ 162 miles. This wa~ a reor~a!\ization, Jan. 1, 1874, o.f the Des _. Gross ea~nmgs ..••..••..••..••......••...•..... $2,167,789 $2,515,000 Hornes Valley Eastern Div., sold m foreclosure October 17, 187~. The , Net earnmgs.. .. . ... .••.. ....••. ..••. ... .••. .. . $809,940 $1,020,000 property was leased for 45 years from Oct. 1, 1878, to the Chicago Interest, taxes, &c..................... .....••. 397,879 420,000 Roe~ Island & Pacific Railroad, the lessee to pay 2fi per cent of the gross 1 Surplus ~112 061 $ti00,000 0 earnmgs, hut guarantee the interest (not the principal) on the present Constructionand.betterments··· ······~--···· 02'077 44.0,000 bonds. The stock is $1,524,600 8 p. c. pref. and $2,ti00,400 common · · · · · · • · · ••· · ••· -~--•-~ ~- -(\>ar both 100), a majority of which is held by the le~see. Divs. on pref Balance ..•. •·····•··················•······ $101:1,9~4 $160,000 2mce 1876 have been: In 1880 and 1881, l¾ p. c.-nothlng since. Surplus for two years and eleven months ..•....•............ $1,487,734 Keokuk & Western.-Owns Alexandria, Mo., to Van Wert, Ia., Ex_pended for equipment and betterments ..••...•........... 1,344-,087 143_m1les; operates Keokuk to Alexandria, 5 miles; Centerville, Ia., to Surplus..................................................... $143,647 Albia (trackage-a. M. & A. RR.), 24 m.; total, 172 miles; w_as forc. s. Brice New York President.-(V. 47 p. 530 367· v. 49 p. 471 merly the· M.o. Iowa & Neb., par~ of the Wa 1,.~sh_system sold m fo re- 690 .) ' ' ' ' ' ' ' clos~e Aug. 19, 1886, and reor~amzed under this title. Stock $4.000,· Lake Shore & Michigan southern.-LINE OF RoAn-Buf• O~O. pctr $100. ~ 6 p. c. note for $24.0,000, s ecured by mort., payable at talo, N. Y., to Chicago, Ill., 540 miles; branches owned, 319 miles. Other Wlll, 1s outstan~mg. Jan. I to_Nov. 30 (11 mos.), gr:oss ean~ings m 18~9. lines owned as foilows: D etroit Mon. & Toledo, 62 miles; Kalamazoo & f313,801, against .~298,8~9, net, $25,034, a?amist $3,~0l. ~~ 88 WhitePigeo_n, 37 miles; Northern Central (Mich.), 61 miles; total, ~60 f}oss earns. were $;$18,54.7, net_earnFi., $60,970, construct10,n, $6 J ,85L miles. R;.iaos leased are as follows: Kalamazoo Allegan & Gr. Rapids, 1~dend of 1 ~er cent wa_s paid m 1888. F. '.I'· Hugl}es, Pres t, Keokuk, 58 miles; J 11,mestown & Franklin, 51 miles; Mahoning coal RR., Youngs Ia., _G. H. Car de~, 52 William S:3t., N. Y., Vice-Prest.- (V. 45, p. 166, town to An ,tover, O., and branches, 42 miles; Detroit Hills. & South• 3 0 4 , V. 46 ,I> - 4 '79, V. 4 8, J>. 661.) . west., 65 miles; Fort Wayne & Jackson, 98 miles; others, 8 miles; total, Kings County Elevated.-Owns road m eperation through Ful- 315 miles. Total road owned, leased and operated, 1,341 miles. ton Street, Brooklyn, to city limits, 6·14 miles in au. Stock authorized, ORGANIZATION, &c.-This company was a consolidation of the Lak· 13,'.!50,000; outstanding, $2,656,000: 2d mort. was made in 1888 to Shore RR. and Michigan Southern &'North. Indiana RR. May 27, 1869, oom1;>lete ~he road, Of the 1st mort. bonds $200,000 are 6s, and trustee and tho Buffalo& Erie RR. August 16, 1869. '.rhe consolidated line em• i8 Mercantile Trust Co. of New York. [See abstract of mortgage in v. braces the former roads of tl..te Cleveland & Toledo and the Cleve• ~9, ;.,. 237.] The Ful~on Elevated RR. under contruction from city land Painesville & Ashtabula railroads. The roads leased &ti lillilts to the_ Jamaica lme and town of Woodhaven,t:about 319 miles, is fixed rentals a.re the Kal. Allegan & Grand Rapids, Jamestow,n leased to this company and its bonds guaranteed, principal and inter- & Franklin and Mahoning Coa1. The Detroit "lonroe & Tol. est. Information as to finances, with 'balance sheet, &c., was given in Kalamazoo & White Pigeon, and the Northern Central o 1'. Michigan, are the CHRONICLE, V. 49, p. 22. In year ending Sept. 30, 1889, gross earn• proprietary road.ti controlled by ownership of their stock. The Mahontngs were~638,605;netmcome,$177,728;payments,(intereston-debt, lngCoal RR. is leased at 40 per cent of gross earnings, anditspre151,54.6; other, $4,928) $156,4.-74; surplus, $:!1,25,4. President, James ferred stock and bonds guaranteed. The New York Chicago & St. Lou18 ourdan. (V. 4.5, p. 25, 600; V. 46, p. 93; V. 4.7, p.170; V. 48, :r. 855; road is controlled by ownership of stock. V. 49, p. 22, 287, 825.) ' · STOCKS AND BONDS.-The guaranteed 1otock of $533,500 carries 10 per Klng•ton & Pembroke.-Owns from Kingston, Ontario, can. oent dividends. The ordinary_ stock has p_aid the following dividends to Renfrew o~ the Canadian Pacific RR., 104. miles; branches, 9 miles; since 1870, viz.: In 1871, 8; m 1872, 8; m 18'?3, 4; in 1874,. 314; 1n total, 118 miles. Bonds are redeemable on notice at 105. Report for 1875, 2; in 1876, 314; in 1877, 2; in 1878, 4; _m 1879, 61.g;_ m 18801 1888 in V. 48, p. 526. Stoc,k, $4,500,000; par $50. Gross earnin/lS . ;81, '82 and '83, 8 p. ~t _e ach year; in '84., 7; in 'So and '86, nil; m '87 an<1 1888, $203,30::J; net, $59,545; surplus above charges, $25,225. In 88 4 p. c.; in 1889, o; m 1890_. Feb. l, 2 and 1 extra. . 1887 ~ross, $175,135: net, $51,104; surplus over interest $16 784 Mahoning Coal com. stockpa1d in 1889 41.g per cent; m 1890, Feb. ;1., See full statement in v. 44, p. 402. (V. 48, p. 526.) . ' ' · 21.g per cent. The common stock is to be increased to $1,500,000 ana ~noxville CuJDberland Gap& Loulsville.-Kn()xville, Tenn .,. the p_referred stock (guaranteed) to $800,000 for the acquirement of lJlth tun~el at Cumberland Gap, to a connection with the Louis. & n~w Imes. ~ee ~- 5 o, p. 7 1. • • Na2h a distance of 68 miles It will form with the Marietta & N tb The range m prices of stock since 1870 has been. In 1871, 85lg'@ll614, G ''1 ( 'th bi hit ill ' · . or 1872, 83lg@9814; 1873, 57141i!97¾; 1874, 67 7s1i!843s; 1875, 5114@ eorg a w1 . w c w eventually consolidate) a direct llneto At- 8 01.g• l8 7 6 48¾1i!6815g· l8 7 ..., 451i!733s· 1878 55-,: @71~· 1879 67@ 18!~ta, Ga. T:1Ie mort~_!tge is for $~,;>00,000 on above mileage and pro- 108 ;' 1880.' 95@1393s; '1881:' 1125s1i!l35¾; 1882, J'8 ,w12o\i: in'1883, TI esforthe 1ssueof$.:>OO,OOO additional at $15,000 per mile for ex- 92 ¾'@ll47s• in 1884 59'½!1i!l04¾·in l i:l8 5 50¾w897:. in 18 8 6 7618 8• ' tensions. The bonds were offered m London in October 1888 The • • • • • • • oityof Knox,,rne subscribed to $ 225 000 stock (V 48 P •420 ) · 1i!l0u3s; m 1887, 8~1i!98¾: m 1888, 85141i!l04 7a; m 1889, 99¾1i!l08lg; ' · · • · · in 1800 to Jan. 1 7, mclus1ve, 1041s1vl0515g. Lacka-wanna & South-western.-Road operated from Lacka The first consolidated mort(J'age bonds are redeemed each year by wanna Junrtion, New York_, to Perkinsville, 41 miles; Swain's to $250,000 contributed to the sinking fund. The above bonds of all Nunda! 11 m.; Olean to Angelica, narrow gauge, 38 m.-total, 90 miles. classes outstanding are given less the amounts held in the sinking In April, 1889, the _~ackawanna & Pittsburg road was sold in fore funds. which amounted to $4,500,000 Dec. 31, 1888. closure and. reo rgamzed as Lackawanna & Southwestern. Company OPERATIONS, FINANCES. &c.-The annual reports of this company are authorized $800,000 1, t mott. b ,· nds ~Mercantile Trust Co., trustee) ; models of clearness in all the statistical matter. The road is greatly 31hso $2,800,000 1pa~ $100) stock to retire old mort. bonds, &c. Geo. D. dependent on through traffic, or traffic from competitive points and its 0 apman Vice-President and Receiver,"48 Wall Street. New York. (V. business is injured by any cutting of rates. · ' 46, p. 200,228; V. 48, J). 688.) Ln 1882, 140,500 shares preferred stock and 124,800 shares of comLake Erle Alliance & Southern.-Owns from Bergholz, 0., to mon stock of the New York Chicago & St. Louis Railroad (a conPhalanx, 0., 60 miles. Formerly Cleveland Youngstown & Pittsburg, trolling interest) were purchased. This N. Y. c. & st. L. (Nickel Plat&) From January 1 to Nov. 30, in 1889 (11 months), gross earnings wne $975,845, against $955,487 iu 18:18; net, $175,665, against $140,47::-. In 1888 the income account was as follows: 1887. 1888. Gross earnings . .....••..••......••..••..... $1,067,468 $1,042,680 Operating expenses.......... . . •. . . •. . . •. • 012,116 559,056 - ---Net e,arnings.......... •••...•.......••. $455,352 $483,624 Other receipts................ . . • . . . . . . • . . . . . . . ••. .••• •• 4,490 --$!88, t 14 Total receipts .••.......•..•••.••...•....•••..••..•.. $99,898 'laxes, rentals, &c ..••••..•..••...•..... ·"···· .....•.••• 263,310 lnterest on bonds .••...•..•••.••..••..••....•...••..••.. J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis --, g ... w https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE LAKE ERIE & WESTERN RAILROAD 16 INVESTORS' SUPPLEMENT. [VOL. L. Sub111crlben will conCer a ,:reai favor by giving lmme«Uate notice oC any error discovered In the111e Table•. DESCRIPTION;. INTEREST OR DIVIDENDS. Bonas-Prinoi• Mllea Date Size, or Am t - - - - - , - - - - - - - - - - - - - - pal,WhenDue• For explanation of column headings, &o., see notes of of Par Outat~~g Rate per When Where Payable, and b:-,, Stocks-Last on :first page of tables. Road. Bonda .Value. Cent. Payable Whom. Dividend. --------------'---------1 l Lake Shore ti Mich. Southern.-(Oont.)- .Buft'alo & Erie, mortgage bonds .•••.••..••...•... o Detroit Monroe & Toledo, 1st mort.,guar . ....... 88 1868 $500&0. $!,784,000 7 A.. & O. Coupons a-re paid by ( 62 1876 1,000 924,000 7 F. & A. Treasur'r at Gr'nd 58 .• 100 610,000 3 A.. & O. Central Depot, N. < lat mortgage. renewed in 1888 ..•..••...•...•. o 58 1888 1,000 810,000 5 J. & J. Y., and registered , Jamestown & Franklin, .lat mortgage .••...•...•. o 1,000 51 1863 298,000 7 J. & J. interest by Union Jamestown & Fra.nklm, 2d mortgage .••..•••.••. c 1,000 500,000 51 1869 7 J. & D. l TruRt Companv. Mahoning Coal stock............................... 2¼ F. & A. N. Y. Gr'd Cent. Office. 50 1,373,0CO 42 ..•• Preferred stock, guar. 5 per oent . •• . . . . . . • . . . . . 400,000 212 J. & J. 50 N. Y. Union Tr. Co. 42 lat m., Youngs. to And. &branches, gua.r ..• . . o 5 1,000 J. & J, 1,500,000 do do 42 Lehigh if HudsonRi-1:er-lat m.,g.,int.red'oed to 5 % 1,000 800,000 5 J. & J. N. Y. Nat. Ex:. Bank. 41 1881 1,000 2d mortgage oonsol. (for $500,000) . . . . . • . . . • • . . . . 5 J. & J. 201,070 do do 63 1887 Warwick Valley,lst & 2d ms.($2-!0,0()0 2ds, 1911) 385,000 6 A.. & O. 22 '79 '81 500&c. do do Lehigt,, if Lac/c.-lstmor tgage . •.. ••. .. ~ . . .. .•..• . . o 7 1,000 .r. & D. Phil., Finel.I.& B.Dp.Co. 100,000 25 1877 Lehigh Vatley-Stook ($106,300 is pref.) ..• ••.••... . 1,078 114 50 39,707,550 Q.-J. jPhil., 228 So. Third St. 1,000 5,000,000 1st mortgage, coupon and registered.............. 101 i868 6 r. & D. Re~. atoffloe; op.B'kN.A 6,000,000 2d mortgage ... ................. ... ....... .. ...... r 101 1870 1,000 7 .\I. & 8. ,Phila. Of. , 228 So. 3d St. 1,000 2,439,000 Consol. m., sterling, g., s. f. 2% y'rly, d 'rn at par.o&r 232 1873 6 f. & D. do do 1,000 6 J. & D. Reg.atofflo <>; op.B'k N . A. 9,785,000 do coupon and registered .......• . .•• . oar 23l 18'/3 1,010 1 ,335,000 6 J & D. Phil., Of., 223 So . 3d St. do annuity.................................. 232 1873 6,000,000 Easton &Amboy. lstm.,guar.F.a.stonto P.A.mboy 1,000 60 1880 5 \£. & N. , do do 1,000 1.355,000 Delano Land Company bonds, endorsed . . . . . . . . . . . ••. 1872 7 r. & J. . do do 4,913,100 2 50 Q.-M. Cinn.Offloe, 1st Nat. Bk. Little Miami--Stk, com., gu. 8 %, 99 yrs, Pitt.C.&St.L. 1928 18· 6··A·.8 512,500 1,000 Btreetoon.lst &2dMs. (jtly.withCin.& Ind.RR.).o 6 Var. IN. Y., Bank of America. '¼ 1,500,000 5 1,000 ~1. & N. ao Renewal mortgage ........... .......... .. ........ o do 84 1882 Convertible bonds for $ i,OOO,OOO ............... . lg. M:&·s. N. 3;250,000 C!o . Little Rock ct Memphis-First mortgage, gold ..• .. o i35 50 2,487,850 319&1ex. J. & J. IPhil. Offioe,410 Walnut. Little Schuylkilt-Btook .••• .•.•••......•......••..... 31 50 12,000,000 Long Island-Stock ..•...•...•..••....••..••...•... .. 356 1 Q.-F. IN.Y.,Corbin Ba.nk'g Co. 7 500 M. & N. 168,000 do do lat M. Jamaica. and Hunters' Point extension .. o* 10 1,121,000 7 500 M. & N. do do lat mortgago, main line . .................... . .. o • 94 1868 7 F. & A. 268,703 do do 2d mortgage •••.............• .•...••....... ..•.. c* 158 1878 tOO&c 3,43 7,000 5 g. Q.-J. I do do 1.000 Consol. M . g. ($1,503,000 reserv'd for prior bdR.) o k 180 1881 Kal. Allegan & Gr. Rapids, stock, 6 p. o. guar.... I I l iss:i -i:."centrai·Ti.-ust i:ooo isi3o I stock was afterwards out down one•ha.lf in tbe r eorganization, viz, to 70,250 share-a of pref. and 62,400 shares of common and an assessment of 10 per cent cash paid on it, the oomoany receiving $2,503,0001st' pref. stock oi N. Y. Ohio. & St. L. for the ·assessment. The preliminary statement for 1889 (December estimated), on which the dividend was declared, was a.s follows compared with the actual :ftgures in 181; 8. ' · · _ 1889 (A.~~~~i.) (Estimated) GNss earning!! ........... . .............. $18,029,627 Operating expenses and taxes........ 11,310,371 Per cent of expenses t() earnings. ...... (62·73) _____ Net earnings ............... . ....... $6,719,256 Interest, rentals and guar. divid»nd... 3,608,391 $19,475,0 00 12,833,859 (65·81) --$6,6-11,141 3,425,000 Balance ($6 29 per share in 1888 and $6 50 in 18 :!9)..... ...... ............. $3,110,865 $3,216,141 The annual report for 1888 published in V. 48, p. 587, contained the tables below, showing earnings and income account for a series of years: OPERATIONS AND FISCAL RESULTS, 1888. 1887. 1885. 1886. 1,342 1,341 1,340 Miles operated .•••.. 1,340 Operations- Pasa. carried (No) . . 3,479,274 3,715,508 3,752,840 4,051,704 PaBB'germileage . .•. 176,830,303 191,593,135 20},761,459 210,107,098 Rate p. pass. p. mile 2·058 eta. 2·098 ots. 2 ·260 ots. 2·28 9 ots. Fr'ght (tons) moved 8,023,093 8,305,597 9,::J26,852 9,069,857 Fr'ght (t'ns) mileage * 1,602,567 * 1,592,044 * 1,843,785 * 1,799,104 Av. rate p. ton p. m. 0·553 ots. 0·639 ots. 0·670 eta. 0·636 ote Earnings- Passenger.... . . . . • •• Freight.............. Mail, exp., rents, &o. $ $ $ $ 3,639,375 4,020,550 4,650,653 4,810,148 9,031,417 10,329,6:l5 12,547,923 11,629,174 1,462,713 1,509,280 1,512,386 1,590,305 Sep·,;;:·ci937 Jan . 11, l t- 90 F ,,b, 1, 1890 May 1, 1890 May 1, 1898 Aug. 1, 1918 July 1 1931 earnings, $235,502; net, over ex:pense, and taxes, $88,292; deflolt under interest, $313. Grinnell Burt. Pt·es tdent, Warwick, N. Y. (V. 45, J?, 1356; V. 47, p, 70'3; V. 48, p. 6 88; V. 49, p . 236.} · Leht,:h & ~ackawanna.-Owna from_ Bethlehe~, Pa., to Wind Gap, Pa.,_ 25 miles; thence, tn connection with the W~nd Gap & Del_aware Railroad, to Saylorsburg and Ban~or, P..i., 38 miles. Opened m 1867. Capital stock, $370,500; par, $50. Gross earnings in 1887, $56,319; net, $14,765. In 1888, gross, $61,383. Lehigh Valley.-(See M ap.)-Owns Phillipsburg (Pa. Line), N. J., to Wilkesbarre, Pa., 100 miles; branches to Audenried, T ,,mhicken, Hazleton, &c., 206 m.; Roselle & So. Plainfield RR., 10 m .; Easton & Am• boy RR., Amboy, N. J., to Pennsylvania Line, 60 m., and branches, 6 m ; total Lehigh Valley p roper, 382 miles; leases Southern Central RR., 114 m.; Pennsylvania & New York Canal & Railway and leased lines, 180 m.; Lehigh Valley in N. Y., 12 m; controls Geneva ltha.011, & Sayre, 1!6 m.; t(?tal, 804 miles. TracKage: Penn. RR., 50 m.; N . Y. Cent,ral, lo m.; Ene, 188 m.; Cen t. of N. J,, 21 m. Grand total operated, 1,078 miles. This is one of the most important of the coal roads. Dividends on the ordinary stock have been as follows since 1870: In 1871, 1872. 1873, 1874 and 1875, 10 per cent paid; in 1876, 9; in 1877, 5½!; in 1878, 1879 and 1880, 4; in 1881, 512; in 1882, 6-½!; m 1883 and 1884, 8; in 1885, 6; in 1886, 4; in 1887, 412; in 1888, 5; in 1889, 5; in 1 890, Ja,a. 15,114. Prices of the common stock In Ph1ladelpha since 1377 were as follows : In 1878, 32~@4214; in 1879, 33-½!'@55; in 1880, 46@57~; in 1881, 57121il6414; in 1882, 5814'@67~; in 1883, 63@7314; in 1884. 57'@7l7s; in 1885, 5412$6114; in 1886, 5514@62; in 1887, 53 7s@57~; in 1888, 5112@577s; in 1889, 52·@55; in 1890, to Jan. 17, inclusive, 52½@5338. In March, 1888, iasue1 20 p er cent in new stock to stockholders at par, the proceeds paying for additions. (See V. 46, p. 371.) Company guarantees dividend.a on stock of Morris Canal (see that company, under "Cana.ls.") The fl.seal year ends November 30. The last annual report was in the CHRONICLE, V. 48, p. 98. It is one of the peculiarities of the oompany's a.nnual report that no general balance sheet is given. INCOME ACCOUNT. 1885·86. 1886•87. 1887·88. Gross income (incl. invest, &o.) $9,395,800 $11,197,168 $12,351,739 Operating expenses............ 5,293,816 6,142,396 7.128,235 Total gross earnings 14,133,505 15,859,455 18,710,962 18,029,627 $ $ $ ~erah,1711 Expenses$ ll t'ce o way, &o. .1,614,':'77 2,0i4,04t 2,0i9,084 2,500,494 Malnt. of equipment. 1,347,379 1,340,291 1,995,012 1,460,753 Total net income .•••.••. .. . $1,101,986 Tra.nsport'nexp'nses 5,277,444 5,192,943 5,730,977 5,994,09 2 Disbursements482,223 Cntereat on d~bt. .•. . ••.•.••• .. . 485,946 476,257 Taxes.. .............. 518,668 2,048,201 748,468 529,269 872,809 General, taxelil, floating inter• t>68,398 Miscellaneous •..••.• e st, loss on Morris Canal, de• preciation, &o. ••• ..•..••.. ..• 682,003 9,287,537 9,731,622 11,029,798 11,310,371 Dividends*............ Total .....••...•. . ••• . ••• . 1,331,531 4,845,968 6,127,833 7,681,164 6,719.256 Net earnings . ....... 58·95 62 ·73 61·36 65·71 P .o.of op.ex.to ear'gs Total disbursiements.... .•• $1,061,735 Balance, surplus... . ........... 40,250 • Three oipbers omitted. INCOJICB ACCOUNT. April 1, 1898 Au~. 1, 1906 Oct. 1, 1889 July 1. 1938 Var.toJ'ly,'97 June 1, 1894 ~'i,b, 1, 1890 Ja.n. 1, 1890 July 1, 1934 J11ly 1, 1911 July 1, 1917 1899 & 1911 Deo. 1, 1907 Jan. 15, 1890 Juue 1, 1898 Sept. 1 , 1910 D P.o. 1, 1897 D ec. 1, 1923 Irredeemable. 1920 Jan., 1892 D ec. 24. 11-89 1894-1898 Nov. 2, 1912 $5,054,771 $5,225,504 2,011,171 2,081,285 1,018,747 1,584,081 967,874 1,890,876 $l,643,999 410,772 $4,940,035 285,469 '"In 188:5 86, 10 on pref. and 4 on com.: in 1886•87, 10 on pref. and 4lf& on com.; 1n 1887•88, 10 .ln pref. and 434 on oom.-(V. 46, p. 101. 344, 371, 67d; V. 47, p. 108,593,664; V. 4 ~, p. 98, 100, 29.!, a26, 399; V $ 6,719,256 49, p. 52, 373, 539.) 219,892 LUUe 1'Ilaml.-Owns from Cincinnati, o., to Springfield, O., 84 miles; branch, Xenia, O., to Dayton, 0., 16 mlles; leased, Columbus & Xenia RR., Xenia to Columbus, 0., 55 miles; Dayton & West. RR., Day4,845,968 6,238;585 7,811,163 6,939,148 Total income ..•• ton, 0., to Indiana State Line, 38 miles; Ohio State Line to Riohm'd, Ind., Disbursements4miles; Cinoin. Street Conn. RR., 2 miles; total operated, 198 miles. The 443,900 449,313 439,168 517,418 Little Miami Railroad proper extends from Cincinnati to Springtiela, bu, Rentals paid ..••.••• 3,374,938 3,326,480 3,276,140 3,257,515 the portion between Xenia a.nd Springfield is now operated as a branch ; Interest on debt ..••• 53,350 53,350 53,350 Divid's on guar. s'k. , 53,350 for the remainder of the main line, as given above, the Col. & Xenia 250,000 Binking fund ..•..••• 250,000 road (leased), is used. On December 1, 1869, the Little Miami, with all its branches, &c., was lea-sed to the Pittsburg Cincinnati & St. Louis Railroad ComTotal disbursem'ts 4-,117,456 4,073,730 3,778,803 3,828,283 728,512 2,164,855 4,032,360 3,110,865 pany for 99 years, renewable forever. The Pennsylvania Railroad B~lus for div'd ...• Company is a. party to the contract and guarantees its faithful execution. (2) 989,330 (4)1,978,660 (5)2,473,325 D1 denda........... Road is now operated by Pittsburg Cin. & St. Louis Railway Co. Lease rental is 8 per cent on $4,943,100. interest on debt and $5,000 per annum for Little Miami Company's expenses of organization; the tu.l.tlllBalance .• ••.•••.•••. sur. 728,512 sr.1,175,525 sr 2,053,700 sur.*637,540 ment of thA lessor's lease obligation is also stipulated. In addition to above there is $100,000 6 per cent permanent ca.vitalized debtj -,v. 46, p. 2 55 • .;10, 610; 650,783.802: v. 47. p. 221,109,802; interestdebt J. & J. In 1886 net loss to lessee w as $469,680. In 188·, v. 48, p. 292, 58'1, 855, v. 49, p. 236,720,824, 825.) n et revenue to lessee was $142,254: against which paid rental. &o., $74.0,659; net lo. s to lesRee $ 298,405. .l!:aruin~s in 1 888. $1.8U,442; Lehigh & Hud111on Klver.-Owns from Grayoourt, on Erie road, net.$1 19,608; income from inveatm "n ts, $l89,302; net l oss t o lessee, to Belvidere, N. J., 63 miles. Parties interested tn this and connecting $421,355. roai!s have built the Orange Co. RR. from Greyoourt to Campbell, 7 On Jan. 28, 1890, stockholders vote upon a proposition to authorize miles, to a connection with line' to t he Pou~hkeepsie Bridge. In addi· $3,00D,000 7 per cent bonds (to be i,,sued to the lessee from tim~ to tion to above bonds there are $65,000 Wayawanda 6s due 1900 and time in payment f or betterments) and also $3,000,000 stock, into which t8!l,430 6 per cent car trusts. Stock, $1,340,000. Four coupons, July, the bonds ahaU be conve11ilble, (Seo V. 50, p. 7 l; V. 49, p. 300, 431. 1885, to January, 1887, in lm.uve, were funded. In December, 1885 , 580, 789; V. 50, p. 71.) a traffic contract was made with Lehigh Coal & Nav. Co. an 1 in Aug., Little Rock & 1'IeJDphl8. - Owns from Little Rook, Ark., to 1888, the Cent. of N. J., acquired control ot the road by purobase of etook. In yPar ending Sept. 30. 1889, gross earmngi'! were $269,598; Miss. River, opposite Memphis, 135 miles. The Memphis & Little Rook net, $101,583; surplus over interest and taxes, $6,923. In 1887-88 gross road was sold 1n foreclosure in 1872, again in 187 7, and again in 1887 .llectiptsNet ea.rnin~s .••..••. Interest, divid's, &o. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1885. $ 4.,845,968 1886. $ 6,127,833 110,752 1887. $ 7,601,164 129,999 1889. ---- • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis --:__,_ ,. _ MAP OF THE' .... , LEHIG.H VAL.L EV - ·-,. RAILROAD AND CONNECTIONS. ~ R~ ,s INVESTORS' SUPPLEMENT. LVOL. L. Subscribers will conf'er a great f'avor by giving Immediate notice of' any error dlsco-Yered In these Tables. Bonas-Prlno1• INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or When Due. Amount Rate per When Where P-Wiable, and by pal, of Par For explanation of column headings, &o., see notes o! Stocks-Last Road. Bonds Value. Outstanding Cent. Payable on :ti.rat page o.l' tables. hom. Dividend. -- --- Long Island-(Oon.)-Gen. m. for $3,000.000, g .. o"' 180 1888 $1,000 Newtown & Flushing, lflt mortgage assumed ... c"' 4 1871 500 New York & Flmihing RR .. 1st mortg. assumed .. 3 1880 1,000 76 1881 1,000 B'klyn & Montauk 1st M., $250,000 are 6s. . ..••• o• Second mort. assumed (for $600,000), gol<l •... o• 76 1888 1,000 23 1881 1,000 Long Island City & Flushing. 1st m. assumed .o" 1,000 Goruml. mort., gold, endorsed by Long Isl. RR'.o"' 23 1887 New York & Rockaway, 1st m., gu. interest only. 1871 500 Smithtown & :Port Jeff. 1st m., guar. prin. & int .. ·19 1871 500 1,000 .d:,ouis·i ana Western-lat mortgage. gold .•....•• .• •• 112 1881 1,000 Lout{O, E'Dansv. ff St. I,. Oonsol.-lat M. E. R. &-E. -~ 71 18'81 L. E. & St. L. 1st M., g ., (2d-on 72 M.) .. ......... c 182 '! 886 1,000 1,000 24 1887 Hunt. ·.rell City & C. RR., 1st M., gold, guar.••. o * Illinois & St. L'mis 1st mortgage .....••..•••.• _.c• 19 1875 500 1880-2 1,000 Ve'nice & Carondelet mort., guar •. ·-····-···-···c• 1,000 Oonsol. mort.,gold ($8,000,000) •.•••.••••••..••. c• 1889 100 :LouiB'Dille d! Nashi,ille-Btock . •••. ·····••~u-• ........ 2,180 1,000 Leba.non br.juno., to Livin~ston, Louisy. loan . . o' ll'> Leba.non-Knoxv., M. 1st on 62 m. ($1,500,000> .. c• 171 1881 1,000 1,000 CeoilianBr.,lstm,CeciltoLo,n is.,s.f.,dr'natlO0 .c• 4b J..877 1,000 Oonsol. 1st M. (vrior liens are onlyJ333,000) . .. Q,.. 30~ 1~68 Memphis & Ohio, 1st m •. Paris to 'em., guar ... o• 130 18'.'J. £200 Mem. Clarks.& L .. 1st m .,£ ,Guthr. to Paris,Tenn.c• 83 Ui'i2 £200 1,000 ~ M:. E.H.& N.,Henderson to Nash.,dr'na't 110.c· 135 1879 1,000 neral M., gold, drawn at 110 ($20,uO•J.000)..o'- 80'2 1880 Collat. Trm~t, 3d M., g., (dr'n at 110) convert ... o· 1,079 1882 1,000 1,000 10-40 Ad1ustment M., g., (red'ble aft. '94) ...•.. o• 785 1884 1st I'll. on N. O. & Mobile Div., N. O. to Mobile g .c• 141 1880 1.000 1,000 2d M., N. O. & Mob. Div., New Orl. to Mobile g.o• 141 1880 1,000 Bonds sec'd by pledge o:1'. 2d M.8.&N.Ala.RR ... o* 189 1880 1,000 1st M., Southeast.& St.L.Div.,g.o• tE.St.L.toEv's· 208 1881 2cl M., Southeast. &St. L. Div.• ~.u•) ville & br. __ 1,000 208 1881 45 1880 1,000 Pensacola Div., lat mort., gold (dvawn at 105) .. c* 0 as·6 i863 The presPnt company was organized Seut. 1, 1887 and all the old "bonds have been retired with the above new mortga.1?e bonds, making ·the annual intere~t charge $162,50 0. Under the title Memp. & L. Rock, iin issues o1 the SUPPLEMENT prior to Nov., 1887, an account or the road is j?iven. Stork $ 3,250,000; par $100. Gross earnings in 1888, $676,179; net, $197,66t; interest on honds, $162,000; rnrplus, $35,662. ,Rudolph Fin'k, P resident, J\1emphis, Tenn. (V. 45, p. 401.) L'ttle Schuylklll.-Owus from Port Clinton to Tamanend , 28 miles; branches, 2 miles; total operated, 31 miles. The East Maha'-llOY RR., was leasedJan.12, 1863, for 99 years, and sub-leased to Phila. & Reading July 7, 1868. The Little Scb1iykill Railroad is leased to the Philal1:elphia & ReadinO' ttailroad for 93 years from July 7 1868 Rental m 18 87. $185,227. Extra dividend of llg per cent was paid July 7 1888 and of 1 per oentJan 11 Ui90 ' ' · ' · . Long Island_.-Owns from Long Island City, N. Y., to Green P(?rt, N. Y., 94 miles; Lon.~ Island City to Great_ Ne ck, 14 miles; Bushw~ck to Sag Harbor! 98 rmles; branches, 81 miles;_ total owne~, 287 -miles. Leases-Srmthto~ & Pt. Jefferson RR., 19 miles; Stewarts RR. to Btthpage, 14; Stewarts RR. to Hempste:1~, 2: N. Y. & Rockaway RR., 4 (and 5 unoperated.); Broo~yn & Jama10a RR., 10; New York Br9oklyn & Manhattan B each R ailway and ~raI?,ches, 20 miles; total leased, 69 miles. Total owned and l Pased, 357. miles. ,, The control of the co~pany v.:-as sold to the _Long Island Company, controlled by Mr. Austm Corlnn and others, m Dec., 1880. In July. 1881, th~ stock was increa~ed from $3,26_0,700 to $10,000,000, and it was raised to $12,000,000 m order to retire $2,000,000 Brookl.vn & Montauk st ock, whtch company was absorbed by the Long I ,~land Railroad in ~pril, 1889, by an e-c~hange of stock. The Long Island -City & FluRhmg was als~ abso.rbed m 1889. The Central Tru;:t Co. 1s trdstee of the general mortgage of 1888. The~e a-re also $236,000 real estate_mortgai:?e 5s to 7s, . .Dividends have been as follo ws smce 1881: In 1882, 1; m_1883 and .smoe at the rate of 4 per cent per annum. R~nge_ of stock prices s .n_ce 1882 bas been 1:l''i follows: In 188_3, 58W8o~; 10 18~4, 62i!7814; rn, 188?, 62W80 7s; m 1886, ?0mlO0; 10 1887, ? a @9~34; 10 1888, 8712W ·g5; ,:in 1889, 89:lg t ·, 9612: m 1890 to Jan. 17, 10olus_ive, 88W911i!. Fiscal'year ends Sept. 3 0 ; the 18 8-9 report was m V. 49, p. 823. EARNINGS AND EXPENSES. 188 5-86. 1886-87. 1887-88. 1888-89. $ $ $ $ -Gross earniq,gs ..•...••..•.. 2,994,772 3,197,808 3,403,296 3,477,9~9 Expenses and taxes ..•..••• 1,872,~25 1,899,206 2,222 630 2,277,869 --- - - --- - - - - ·- - Net earnings .••••.•...••••• l,:!.22,447 1,298,602 1,180,666 1,200,110 INC0111E ACCOUNT, 1885-86. 1886-87. Deduct$ $ Interest, less int. received •• 233,179 203,195 304,063 412,372 Rentala. --·---····---····--· Dividends ... ..• _..••. .• .... 400,000 400,000 Miscellaneous . . ~- . __ .... _. _ 48,198 1887-88. $ 151,71'>8 3 35,093 4,00,000 63,067 1888-89. $ 341,628 254,024 440,000 --- Total cliabursements... 937,242 1,063,765 999,918 1,035,652 8 utplus. .•. .... . . ...••. 185,205 234,837 180,748 164,468 -(V. 45, p. 142, 2a. 792, 85 5; V. 46, p. 171, 610: V. 47, p. 21, ::.09, 161,383. 775; v. 48, p. luu, 190, 221, 250, 420,799; v. 49, p. SU, 471, 823.) Louisiana Western.-(SeeMapof So. Pac.) - Owns from Lafayette, La., to Orange, .Texas, 112 miles, leases extension in Texas, 7 m.; total, 119 miles. LeaRed and operated by the South. Pao. Co. for 99 years from March 1. 1885, being part of the through line between New Orleans and Houston. From J a n. 1 to N.>v. 30 in 1889 111 months). gross earnings \\Me a" 993,592, against $883,328 in 1888; net, $4 25,06 2, against ;j,438,638. In 1888 ~ross earnings were $966,494; net, '$476,908. In 1887, µ-roas, $843,794; net, $414,836. Btoc.K is $3,360,000; par, $100. Lonlsvllle Evansville & St. Louis Consolidated.-( See Map of Evan~ville II Tt:lrre Haute Rlt:.J-Line of -road. New Albany, Jud., to opposite the city of St. Louis, ~vith branches 386 mlles (of which Mt. Vernon, Ill., to B elleville, 65 miles, is in progress) . '£hii Co. i;i a consolidation made in 1889 ot the Loui;i--ville Evansville & St. L nuis, 253 miles; the (11. & St. Loui3 RR. & Coal Co., 20 mile;i ; B elle ville Cen• tralia & Easitern, 6'> miles; the Venice & Carondele t, 21 miles, and the Huntingburg Tell Ci ty & Ca.nn-,lton, 2! m iles. Bond~ 1sme1 under the consolirt.ated mortga ~e (N.Y. Security & Tm.-t Co.. trustee.) will be \Used as follows: as per a rtic les of" c msolidation , $2,000,000 for 01d L. E. & St. L first~. $2,250,000 for o ld sec ,ud~ anrl$[)O0.0OO for Evans• ville divisio n; $800,000 f,,r tne bonds of tl1e Huntin!?bur'? Tell City & C., the Ill. & St. Louis a nd Ven.ice & C. ; $L.li5.000 for the Ill. & St. L pref. Fltock, and the remainder, $!:J25,000, for buil1lin~a d equipping the B elleville C ntralia. & Easter... Bonds are dated July 1, 18~9, but first coupon is detached fro m all but the$ l, 125,000 given for the Clls. & :St. L. pref. Ato ck. (S e abs ra,ct or mort. in V. 49, p . 20 ➔ .l Common stock,$3.790,747; -preferred, $L,300.000, 5 p. c., non cu.nnlative. From Juiy 1 to D ec. 3 t, 1889, gross earnings (partly estimated) were ·$596,457; net, $259,796; surplas over fixed charges, $71,:>tl8. (V. 46, p. 609, 827; V. 48, p. 18~, 221, 580,688, 7.JO; V. 49, p. 82,209,434; '¥, 50, p. 107.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis •1 $1,500,000 4 ~. 110,000 7 125,000 6 1,000,000 5 &6 g. 5 g. 600,000 600,000 6 650,000 5 g. 250.000 7 600.000 7 2,240,000 6 g. 900,000 6 6 g. 2,000,000 6 g. 300,000 200,000 8 300,000 6 3,425,000 5 34,105,800 3 stoo 333,000 6 6 ,. Pled6,ed. 85 ,000 7 7,070,000 7 3,500,000 7 g. 2,015,$60 6 g. 2,300,000 6 g. 11,900,000 6 g. 9,462,000 6 g. 5,000,000 6 g. 5,000,000 6 g. 1,000,000 6 g. 1.960,000 6 g. 3,500,000 6 g. 3,000,000 3 g. 575,000 6 g. fir ---- J. & D . N. Y .. Corbin B'kg Co. June,1,1938 M.&N. do do ·May .1. 1891 M. & S. do do Maroh 1, l920 M.& S. do do March 1, 1911 J. &D. do do June 1, 1938 M.&N. May 1, 1911 do do Ma,y 1, ·1937 M.&N. do do do A.. & o. do April 1, 190½ .M. & s. do, do Bept. 1., 190 J. & J. N. Y., Bo. Pao.Co.,23 Brd July 1, 1921 J. & J. N. Y. Securfty & Tr. Co, Jµly 1, 19~:J,. do do · Oct. 1, 192~ A. & 0. A.. & o. do do Oct. 1, 19;2 J. & D. do do June 1, 1895 Various do do 1900-'02 J. & J. do do July 1, 1939 F. & A. N.Y., 50 Exchange Pl. F.eb. 6, 1890 A. & O. do do Oct-. 15, 1893 M.& 8. do do Maroh 1, 1931 M.& 8. do do Mar. l, 1907 A. & 0. do do April 1, 1898 J. &D. Lon~:• Ba.rinarros. June l,' 1901 F. &A. Aug.l, 1902 J. &D. N. Y., 50 Exchange pl. Deo. i, l9}S J. &D. do do June l, l9 0 do do Mar. 1, 1922 i-Mar .&N. do do Nov. 1, 1924. J. & J. do do Jan. 1, 1980 J. & J. do do Jan. 1, 1930 A. & O. do do April 1, 1910 M. &S. do do March 1, 1921 )!. & s. do do March 1, 1980 M.& B. do do Mar. 1, 1920 Louisville & Nashvllle.-(See Map.J-LINE OF ROAD.·-Main line-Newport, opposite Cincinnati, 0., to New Ol'leans. La., 921 miles; St. Louis to Ed9,'efiel(l, Ky. (near Nashville), 308; Memphis to Memphis June., 259 (to Cincinnati, 487); branches, 631; total mileage on which earntngs were based June 30, 1839, 2,180 miles. The milea~e in detail was as follow : Lines owned absolutely and through stocir-Louisville, Kv .• to Nashville. 185 miles; Bardstown Br. and_extension, 37; Leban_on-Knoxville Br. ;i:unction, via. Livingston to J elllc~. Ky.. l7l: M~cnphis June. to Guthrte, 46_; Mem. Cl~rks. & L., Gttthrie, Ky., t o Paris, Tenn., 83: Memp his & Oh10 RR.., Pari, to Memphis, Tenn. , 130; Rend. & Nasl.1;, Div., Hen!lerson to Nashville, 135, and branch, 16 (78;> of the forego10~ 803 miles are covered by the 10-4~ adjustment mort.): _Cumberland Valley Br.• 32; Princeton Br., 53, Mobile & Mont. RR. , Mobile to Montgomery, 179; N. O. Mobile & Texas RR. , Ne w Orleans to Mobile, 141; Southeast & St. Louis RR., East St. Louis, Ill., to Evansville, Ind., 16l. and branches, 47; Louisv. in. & Lexington RR., Louisville to Newport. Ky., 109, and oranch to Lexington, 67; Pensacola & Selma. Div., Selena., A.la.., to Pensa.oola J a ne., A.la., 65; P en sacola Div., Pensacola, Fla., to Pensacola. June., Fla., 4!; Birmingham Mineral RR., Birmin~ham, Ala., to Blockton and bl'anches 73; o th e r lines. 16; total owned, 1,850 miles. Leases- Nashville & D ecatur RR., Nashville to D ecatur, 119; 0th.er lines, 24: total, 142 m. Operntes for account of So, & No. A.la. RR., Decatur to Mon · gomery 183, and branch, 6. Total on which earnings were based, 2, l~l miles O oerates under lease for account o t various companies-Camberland & Ohio R R ., L ebanon to Greensburg, Ky. (:-31), and Shelbyville to Bloomfl.Ald, Ky. (27), 47; Mammoth Cave RR. 8· other lines 21 miles· total 87 miles ' ' ' ' Also owns tb.e Richmond Branch (leased to Kentucky Central), 34 miles, and the Cecilian Branch (leased to Ches. O. & So. W.), 46 miles, and controls, by owner!lhip of a maiiority of the stock, the Nashville Chattanooga & St. Loma RR., 652 miles; the Owensboro & Nashville, 89 miles; the P ensacola & Atlantic, 160 miles; the Nashville Florence & Sheffield RR., 91 miles: and Henderson Bridge and connecting track, 10 miles-total, 1,002 miles; also, as joint lesse es with the ·Central of Georgia, is interested in the Georgia Railroad and its auxiliaries, 721 miles. G1·and total of roads owned. leased and controlled by ownership of stock, June 30, 1889, was 4,071 miles. In 1887 arrangements were made for extension of a line which will oonneo t with the Clinch Valley Division of Norfolk & Western. ORG.A.NIZATION, LEASES, &c.-The Louisville & Nashville was chartered M:arch 2, 1850, and opened between Louisville and Nashville November 1859. The liabilities for interest on the auxiliary roads are treated mostly as belonging directly to the Louisville & Nashv. Co. The South• east. & St. Louis RR. is leased for 49 years to the Louisville c Nashville, which owns and has pledged under the collateral t,r ust deed of 1882 $980,0,1 0 out of the road's ~9 J 9, 5 00 stock. The fl.seal year of L. & N. ends June 30. Annual election is held early in October. STOCK A.ND BONDS.-At the anw1al meeting Oot. 2, 1889, the eitockholders voted to issue $13.000,000 of new sto ck .l'or the purpose of re tiring the 6 per cent. collateral trust bonds of 1882. President Nvrton, in his notice of the meeting, after refer.ring to the policy o.l' payinl? scrip dividends said : "The best evidence of the success of the policy pursuad will be found by compat·ing the flna11.cial and physicial condition of the road now with the conditions existing on July 1, 1884. To put the prope1·ty upon a permanent cash dividend-paying- basis, a nd in a m aune1· that will be just and fair to the stockholde1 s. I respectfully suggest that the proper steps be taken to increa~e the capital stock l>y $13,000,000, the same to be issue<l and u se 1 only for th.a purpose of retiring and c a n celing: First-.iil0,000,000 6 p ur cent collater al t rust u.ortga9,'e bond:;,." * * * "Secand-By the retirement of such other interest-bearing obligations as may b e deemed of greatest advantaj?e. "There will b e a reduction of tl..te fixed chargi's, as follows: Interest on t he $10,000 .00 1 collateral trust bond8 at 6 per cent, $600,000. In addition to this, the annual sinking funds of 1 per cent on the $10,000,000 collateral trust bonds would b e caneel~d, amounting to $100,000, and the remai nder of the proceeds will in liKe manner ret,i re further obligations. By the taking up of t he trust bonds the annual interest charge i s rAduced by $600,000, and the sinkin9,' fund oitarhe oy $100,000, in all $700,000 of r ert.uction or annu~l charges, which may be auplied toward cash rtividends." • * .. "By c anceling the trust mortgage, for the security of which the $28,162,7, 0 of collateral securities are depo3ited in the United States Trust Company, the securities remain only subject to a second mortgage of $- ,000,00 0, b ein~ the 6 per cent ten-forty adjustment mortg-age, which can be paid on Oct. 1, 1894, and when this also is p a itl the $28 .162,700 of securities will revert to the t reasury of the company." .All th e dividends paid since 18i0 were as follows: In 1871, 7 per cent; in 1872, 7 per cent; in 1873, 7 p er cent; in 1877, llg per cent; In 1878, 3 per cent; in 1879, 4: in 1880, 8, and 100 per cent in stock; in 1881, 6; in 1882, 3; in 1888 and 1889 5 in stock; in 1890, Feb. 6, 3 in stock. Prices of the stock from 1872 to date have been: In 1873, 50'@79; in 1874, 53'@59; in 1875, 3612'@40; in 1876, none; in 1877, 261:tl41; in 1878, 35'@39; in 1879, 351l>89lg; in 1880, 771vl74; in 1881, 79@11012; in 1882,46lg11!10034; in 1883, 40:ls'@58lg; in 1884, 22:lg @5138 ln 1885, 22@5134; in 1886, 3 3 15s'ii)69; in 1887, :H)·a ~7014; in 1888, 50:Jsai6!¼; in 1889,5614.W8714; in 1890, to Jan. 17 inclusive, 8519 @873a. Er. JANUARY, 18':l( .) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOOKS AND .BONDS. ~ , MAP OF THE OUISVILLE & NASHVILL RAILROAD SYSTEM. ~ · so https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. MAP OF THE LOUISVILLE, \ NEW ALBANY & CHICAGO RAILWAY AND LEASED LINES. [VoL. L. JANUARY, 1890.J RAILROAD STOOKS AND BONDS. 81 Sub1!1Crlbers will confer a great f'avor by :r:lvlng Immediate notice of any error discovered In these Tables. Bonds-Prino! DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or pal,When Due. Amount of Par Outstanding For explanation of column headings, &c., see notes of Rate rer When Where P-w;a.ble, and by Stocks-Laat; Rof\d. Bonds Value. Cen. Payable hom. on first p age ot tables. Dividend. ~ouilrrJ. ~ N ashv. - ( Oontinue:t Mobile & Mont~. Div., 1st ., ($2,677,000) ..... c" Pensacola & Be ma Div., 1st M., g., ($1,248,00mc• Pensa. & Atl., M.,g., guar., $1.000,000 pledged.c• L.C.&Lex., lstM.,s.f.(notdr'n),Lo11is.to Newport c .. do 2dM.,s. f.,not drawn ........••• c• L. & N. m. on L.C. & L.,,g-old,$3,208,000 plagd. c* 1st mort., gold, on branches, $15,000 per mile .. c* 1st mortga,~ , collat. trus1l ($7,000,000), gold . . c* Henderson rid~e Co.,lst M.,g., sf., dr'n at 105.c• Louisville New Al an'IJ <t OMcago-StocK ........... 1st M., Lou. Div-New Albany to Mich. (1 '. y . . c* 1st M., ~ld, Chic. & Ind'polis Div., Chic. to Ind.c* Consoli ted mortgage gold (for$10,000,000) .. c* Ri~h.Nichol. Irv. & B.,J st M.($2,375,000),gu.'3" .c* Louun,. N. O. ti Tex.-lst !\I:., g., for $16,900,00 ... c 2d mort. income bonds, cum. (payable at 105) .o * Income bonds (not oum!llati vel. .....•...• . .•...... Louisnlle St.Lott is dTexas-lst M.,g.,$2,800,000 .o* 2d mortgage . ............... . .. .. ....... . ........... Louisville South.-lst m., gold, guar. by rental .. c• Lexington Extension lat mort boud .i, gold ..•.. or L'likem val.-8t'k,10p.ct.rental,999yrs. Nor.Cent. Haine Oentral-8tock ..........•..... . . . .•....• . . ..• . 1st M.,consol. Classes A. B, C & O($269,000, 5s).c* Collateral trust bonds for Mt. Desert Branch ..•. c Blnking fund l 0·20s g., red. on or after Feb. 1,'95.c Andros. & Ken. RR. 1st M., Dan. to Waterville .. c Exten. lstM., 1870, g., C'umberl'd.Junc. to Dan .. c Loan for $1,100,000, Oanville .June. to Bangor.. c Improvement. "A"& 'B" .......................... European & North American (Bangor loan) ...••. o Leeds & Farm. RR, 1st M., Leeds to Farmington.o -- - - - - --~ ----- - - - - - - · 179 104 185 175 175 175 118 ...... iiii 288 158 5 -2 0 .... ·••If' i;'i3 121 ·s·s 21 640 304 41 ·55 18 109 .56 36 1881 $1,000 Pledged. 1881 1,000 Pled~ed. 1,000 1881 2,000,000 1,000 1867 2,850,000 1877 100 &c. 892,000 1,000 50,000 1881 1887 1,000 1,764,000 l,000 4,439,000 1888 1,000 1881 1,900,000 100 5,000,000 isso 1,000 3,000,000 1,000 1881 2,300,000 1,000 1886 4,700,000 1,000 1889 1,000 11,140,000 :t886 1,000 1886 8,117,000 1,000 10,000,000 1884 1,000 1887 2,440,000 250,000 1887 2,500,000 1887 50O&c. 1889 500 &c. 1,500,000 20 600,000 .... 100 3,603,500 100 &o. 4,176,400 i872 1883 687,000 1985 1:000 600,000 1,100,000 1860-1 lO0&c. 496,500 1870 500 &c. 1868 100 &c. 756.800 450.000 i869 500&0. 1,000,000 633,000 1871 l00&c. The general mortgage of 1880 on 802miles (Central Trust Co., trustee) 1s for $20.000,000, or which the ba.Ja.nee unissued is reserved to pay -011'. all prior liens on 392 miles, the other 410 miles being subject to about $8,750,000 bonds which are not so provided for. The !Jonds are subject to a drawing 11inkin~ fund of 11 10 per cent of all bonds issued, plus the interest that would have accrued on all the bonds so drawnabout $180,000 in 1889·90. The Louisville & Nashville Lebanon•Knoxville bonds of 1881 ,(pledged under coJlatera! trust 3d mort. of 1882) cover 110 m., subject to prior llens, and 62 miles from Livingston to State line as a ilrst lien. The Pen. & Atlantic bonds a.re guaranteed by L. & N. The P. & A. has issued to the L. & N. $1,000,000 land grant bonds pledged for advances to the P. & A. The collat.nal trust 6s of 1882 are secnred by a.trust deed on the road made to E. H. Green and John A. Stewart as trustees. These bonds are •redeemable on 90 days., notice at 110, and are to be so redeemed by the new issue of stock proposed in 1889. (See CHRONICLE, V. 49, p. 387, 402, and p. vi. of adv.) They are secured by pledge of a large amount of stock~ and bonds, the par value of bonds being $9,633,000 and stocks $18,529,700; total, $28,162,700. The 10-J.O adjustment mort. of 1884 (trustee, Central Trust Co.) ,oovers 783 miles of main line and branches, subject to the prior lienP, .and is a second lien on the trust securities pledged under the trust ,deed of 1882. See v. 39, p. 409. The mortga~e bonds of 1867 on branches are issued at $15,000 per mile. U. 8. Trust Co. is trustee of the mort~age, and the lien covers the Cumberland Val. Br., the Ind. Ala. & Tex. RR. and others. (V. 44, p.751.) The 11,t mortgage trust bonds of 1888 (trustee, Farmers' Loan & Trust Co ) • are secured by bonds on the Birmingham Mineral RR. at -$ 25,000 per mile, and on the Owensboro & Nashville RR. at $20,000 per •mile. (V. 46, p. 511.) The Evans ~ille Hende1·son & Nashville bonds are drawn at 110 by Jot annua 11.v, in September; $30,000 p er year tUl 1895, then increa.s• Jng eacli five vears, until $150,00u per year is finally reached. The Pensacola Division bonds are subject to a drawing sinking fund -of $5,C 00 till 1900, incl., then $10,000, and so increasing. The Henderson Bridge Co. bonds are not a liability of the L. & N. The bridge is owned by a separate company, with a stock o:f $1,000,000 -{par $100), ot which the L. & N. Co. holds $501,000; the Bridge Co. is l{lla:ranteeli 1Zross receipts of $200,000 per year by the several roads using it, and dividend of 21g per cent is paid each Feb. and Aug. OPERATIONS, FINANCES, &c.-The Louisville & Nashville system has been developed in Its present extensive form since 1879; the 100 per -eent stock di'vi dend was declared in 1880 and a few dividends afterwards in cash, but from '82 to '88 nothing was paid. Under a plan adoute<l in 1888 a dividend in stock was paid in Feb., 1888, to represent surplus earns., and this policy was voted to be pursued till .July, 1890, but not to ex<'eed an issue of $5,000,000 stock in all. From July 1 to Dec. 31, 1 889 (6 mos.). gross earnings (partly est1• mated) were $9.704,933, a~ainst $8,307;J55 in 1888; net, $4,058,714, agatn~t $J 214 .679; surpluR (addine- other income), over interest and taxefl, $1.810,803. ag-ainst $1,046,oa6 in 1888. Fiscal year ends June 30, For 1888·89 the reuort was In V. 49, pp. 433, 436,442; statistics were as follows for the Louisville & Na.shville ,proper. 1885·86. 1886•87. 1887•88. 1888·89. Total gross earns..... $13,177,018 $15,080,585 $16,360,24.l $16,599,396 Oper'g ex. (excl.tax.) 8,213,2115 9,047,053 10,'Z67,535 10,326,085 ------ 6 6 6 7 7 6 5 5 6 g. M.&N. g. M.& 8. g. F. &A. .J. & .). A. & 0. g. M.&N. g. M.&N. g. M.&N. g. M.& 8. J ..&.. J. g. F. &A. g. A. & O. g. J. & J. g . M:.& s. M. &S. M. &S. g. F. & A. ··ir 6 6 6 4 5 6 6 0 6 g. 6 g. 21g 3 5&7 5 6 g. 6 6 g. 7 • 41g 6 6 N. Y., 50 Exchange Pl. Nov. 1, 1931 do do Mar. 1, 1931 do do Aug. 1, 1921 do do .Jan. 1, 1897 do do Oct. 1, 1907 do Nov. 1, 1931 do do do May 1, 1937 do do Nov. 1, 1931 do do Sept. 1, 1931 N.Y.,Nat.Bk.Commerce Juiy·1,··io10 do do Aug. 1, 1911 Apr. 1, 1916 do do July 1, 1919 N. Y., R. T. Wilson & Co. Sept.I, 1936 t do do Sept. 1, 1936 do do Sept. 1, 1934 N.Y. Co's.office, 42 Wall Feb. 1, 1917 March, 1917 M •• &..8. ~.Y.Bankot North Am. Mar. 1, 1917 J. & J. N. Y., Hanover Nat. Bk. Jan. 1, 1919 Q.-J. N.Y., office, 13 William. Jan.1,1890 F. &A. .Portland. Me., office. Aug.15, 1889 A. & 0. Bost.,2dNa.t.Bk.,&Poit. April 1, 1912 J. & D. do do June 1, 1923 F. &A Feb. 1, 1905 do do M'nthly Aug'90•Sep'91 do do A. & O. do do Oct. 1, 1900 July 1, 1898 J. & J. do do .J. & J . Bost., ZdNat.Bk.&Port. July'16&'17 J. & J. Bost., Merch'ts'Na.t.Bk. Jan. 1, 1894. J. & J. Bost. 2d Nat. Bk.& Port. July 1, 1896 miles; Howland Junction to Hammond, Ind., 160 miles; Bedford, Ind., to Switz City, 43 miles; Orleans, Ind., to French Lick Bpr., 18 miles; total owned, 510 miles; leases-Hammond to Chicago.,zo miles; Eiowla.nd's .Junction to IndJanapolis, 4 miles; New Albany to Louisville, 5 m.; Louisville So., Louisville to liurgin, 82 m; total leased, 111 m..; total operated, 621 m. A lease for 999 years with Chic. & West. Ind. at $127,000 per year gives entrance to Chicago. The Louisville New .Albany & Chicago was opened in 1852 and sold in :foreclosure Dec. 27, 1872,and reorganized. In Aug., 1881, consoll• dated with Chicago & Ind. Air Line, and stock Increased to $5,000,000, giving 15 per cent increase to stockholders. In Deo., 1888, leased the Louisville Southern till March, 1919, a.ncl guaranteed interest on its bonds by rental (not by endorsement on the b onds). Lease may be terminated by New Albany Co. on one year's no• tice. In Oct., 1889, leased the extension Lawrenceburg to Lexingtou on same terms. Also leased the Richmond Nicholasville Irvine & Beattyville Road, under construction from Nicholasville to Lee County, and guaranteed the bonds, principal and interest. Of the consol. bona.a o.r 1886, $5,300,000 was reserved :for prior flraf, mortg£t.ges. .From Jan. 1 to Oct. 31 (10 months), gross ~a.rnings were $2,055,710, against $1,911,322 in 1888; net, $767,265, against $703,0of.7. Fisaal year ends Dee. 31. The annual report :for 1888 was in V. 48, p. 367, 728. Earnings, expenses and charges have been as follows: INCOME ACCOUNT. 1888. 1886 1887. Gross earnings .•••••...•.•..••.•••. $1,919, 189 $2,295,623 $2,292,782 $805,925 $868,106 Net earnings........................ $640,661 Eeduct$549,814 $581,775 Interest.... .••... •. . ••..••.. .•. . .•.. $461,538 228,641 Rentals, insurance, taxes, &c...... 223,869 282,458 25,000 Interest on car trust bonds.... . ... 50,000 Total charges................... $735,407 $803,-155 $864,233 Ba.la.nee•.•••.•••.•••.••.......•...•. def.$94,746 sur. $2,4.69 sur. $3,872 WilliamDowd,President,N.Y.-(V.48,p. 367, '728; V. 49,p.471,511.) Louisville New Orleans & Texas-(See .Map)-Ltne of road Memphis, Tenn., to New Orleans, La., 456 miles; Leland to Huntington. Miss., 22 m . Leases-Clinton to Port Hudson, La., 22 m. Also operates Riverside Division, Coahom<1,, Miss., to Rlverside Juno., 125 m.; Bayou Sara branch, 43 m.; total 668 miles. This road was built in the interest of the Huntington stsyem of road.El, and forms the connecting link in that sysliem across the Continent from Norfolk to San Francisco. The income 1'onds are a first mortgage on 750,000 acres of land in the Yazoo Delta. · The second mortgage bonds are "incomes," recf'livinp; interest only when earned; but no interest was payable till March 1, 1889; unpaid interest is cumulative, and bears interest at the rate of 5 per cent; these bonds may be paid off'8.t 105. The Union Trust Co. of New York is trustee of the 1st and 2d mortgages, and Edward H. Pardee and Albert Crolius o:f a new land grant income mortgage which has been executfld to take up the old income bonds; but none yet issued. Stock is $5,000,000; par $100. In 1889 groes earnings par tly estimii ted were $3,020,000; net, $1.002,000. 1888. 1887. 1886. $2,243,211 $2,426,317 Gross earnings .•••.•••..••• $1,803,784 l,781,89j 1,521,128 Operating expenses........ 1,252,562 Net earnings ..•....•• $<1,963,723 $6,033,532 $6,0 · 2,706 $6,273,311 Net earnings . ••• . .•••. • $551,221 $722,083 -'Per ct. of ex. to earn. 62·33 o9·99 62·76 62·21 INCOME ACCOUNT. 1887. INCOME ACCOUNT. 1887·88. 1888·89. Net earnings .•••.••..••..••• .•••••.•••.••..••. . ••. $722,083 Receipts1885·86. 1886·87. Net earnings ..••..••. $4,963,7!!3 $6,033,532 $6,092,706 $6,273,311 Taxes, rental and mis. expenses ..••..•••..•..••• $103,225 528,828 677,109 Interest on bonded debt.......•• . .••..•••••.•.••• 445,600 Income from invest's 207,807 479,858 $644,4.25 1888. '"$652,441 $10n,758 445,600 $551,358 $548,825 Total income ..• ~ •.••. $5,171,530 . $~,513,390 $6,621,534. $6,95(),420 $101,083 Surplus income .•...•••..••.••...••..•••.••..••. $173,257 Disbursement.$365,317 $375,557 $401,112 * includes otherincome. Taxes ..•...•......••. jf:370,814 15,000 15.000 15,000 Mr.R. T. Wilson,Pres., N. Y. (V.48,p. 854; V. 49, p. 234, 471.) Rentals . .•...•. . ..••• 15,000 11 Interest on debt, &c.. 4,202,801 4,237,102 4,379,803 4,59 ,4!13 LonlsvllJe st. J,onls & •rexas -(See Map.J-Louisville to HenGeorgia RR. deticit . . 44,815 55,470 3,453 23,376 derson, Ky., 142 miles, of w hicu 1 ~1 miles only. West Point to Hendert:>ens. & .Atl. RR. det. •••· · •· · 238,943 199,425 so n, at·e ow,.ed. Completed April, 1 89. H a s contract with n h esapeake Miscellaneous . .• ... . 8,440 • •·· • • • • • • •· • • • • Ohio & South western for joint u e of tracks from Louis ville to West Stock div'nd (5 p . c.) . •·· • ••. 1,518,000 1,594,800 Point, Ky., 20 miles. The J st mortgag-e bor.ds a1·e for $2,800.000, or which $360,000 are held in trust fo r extendin~ roatl to Louisville and Total disbursements. $ 4,643,727 $ 1,68 1,338 $6,530,765 $6,824,206 for terminals. Trustee of mort ~age, Cen tral Trust Ct•. April 1, 1 1389, Balance, surplus~.... $527,80 3 $ 1,832,052 ~90,769 $126,214 there w ere outstandin g $311,~04 equip m ent notes. Stock, ,;2.420,.f -000; par, $100. March 11 to .June ~O, 1889, grns ~ earnings, $65,76,; * In 1885•6 $164,692 btcluded in erpenditures was to be r efunded, net, $15,535. w. v. McCracken & Co., 42 W aJl St., New York, lncreasin~ tlle surplus by that a m ount; in l k86•87, $100,591 was to Fin'l Agents. see full statement to N. Y. Stock Exchange in CHRON· be deducted 1rom t he surplufl, and in 188 7•88 $218.869 to be refunded. ICLE,V. 49,p, 146; V.47, p. 3 ::S l, 555,709; v. 48,p. 68; V.4\J,p. 14fl, 434.} ,!~~:t!,9 $424,961 to be refunded, increasing the surplus by that Louisville Sonthern-(Sce Jfap L. N. A. & O.)-Owns from Loui&ville, Ky., southwesterly to Burgin on Cincinnati Southern RR., 83 - (V. 48, p. 68, 129, 326,329, 556,589; V. 49, p. 52, 82,373, 387,402, miles. L eased in Deo., 1888. to Lmis. New Al. & Uhio., which company -1433,434, 436,539,789; V. 50, P• 71.l agrees to p ay interest OR these 1st mortgage bonds as r~ntal: !Jut lea.so Louisville New A.lbany & Chlca.go-(SeeMap)-Operates fror,1 may be tt,rmin,1,ted on one year's not. oe. The extens1on from LawNew Albany, Ind. (opposite Louisville, Ky.), to Michigan City ,Ind., 289 renceburg to Lexington, with branch, 43 m., has been completed; https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. [Vo;:.. L, MAP OF THE LOUISVILLE, NEW ORLEANS AND TEXAS R. Ra :I'.he ruled sbading indicates I:.a.nd <h'a.nt .JANUARY, 1890, l https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD 83 STOCKS .AND BONDS• I / ~--- MAP OF THE LOUISVILLE, ST. LOUI_S AND TEXAS RAILWAY, AND c_oNNECTIONS. SI INVESTORS' SUPPLEMENT. LVOL, L, \S\ Peytona 0 o Oceana Cuml>er1 ·------·---- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE MARIETTA NORTH GEORGIA AND RAILWAY & CONNECTIONS. JANUARY, RAILROAD STOCKS AND BONDS. 1890.] Subscribers will conCer a great favor by giving imDledlate notice of" any ertor discovered In these Tables. ----- I I D a t e 18 1ze, INTER r. sT OR DIVrDENDS. B mds-Prinol. es or Amount . p al, When due-. For explanation of column headings, &c., see n otes of of I Par Outstanding Rate per When jWhere P a.yable, and by' Stocks-Last. on first page of tables. Road., B onds, Value. Cent. jPayabl e Whom. . Di vidend. Dl!;S ORI PTION. Mil Jlaine Oent'l-(Oon.)-!..ndros.RR.,BathCityloa.n.e 30 Port. & Kennebec, con. M., Port. to Aug. & brch .c 71 Manches.cfLaw.-8tock,10p.c.ren'ltill l937,B.&M. 26 Manhattan (Elev.)-Consol. stock................... 32 Dividend bond certitleates. (-:ee remarks). .•... r Metropol. El., 1st M., $600,000 p. m., $ & £ .••. c.. ·1s do 2d M. (guar. by Manhattan) ..... c* 18 N.Y.El.,lstM.(payableatl05aft.1895)$&£.c&r 14 Consolidated mortgage (for $15,000,000)....... Debentures .•. . ... .... ... .• . . ... . ... . . .•.. .•. . .• . Marietta cf North Georgia-IatM., gold, $7,000p.m. 99 Cons.lstM.,g.$4,500,000,s.f.$15,000afterl897c• 132 Marquette B. cf 0.-CotllDlon stock ..... _............ 156 Pref. stock (6 per cent rental, D.S.S.& A.) .. . .•. .. 156 lst m., M.&O .. Marq. to Mich. & brs. lgr. not ar·n 50 Mort. 1st M. Mich. to Anse.& brs. 4-0 m.,red.atlOO 90 M.,lstAnse.toHough.&brs45m.,red.at105.c•&r 78 Oen. M . lat M. on Mar. & West., 21 m. int. guar c• 156 lfem. cf Ohar'ston-l'enn. State loan for $1,736,906 94 1st mort. extended............. ............ ........ 2d mortgage, extended . •.. ........ ..•...•..••...•. c . ... Consol. ,gold ($1,400,0001st on 93m. in Tenn.) .. c .. 292 General mortg., gold . ........................ . . c&r 292 Mexican Oentral-lllcome bonds, not yet assented.r Debent.rsecu.bycollat.) (will be called Apr. '90) . c.. lst mortgage (unassented) __ .••. ..........•..... .... Prlorityconsol.M.gold,redeemableatllO .. c"&rl,663 Consol. M., gold, $;:$2,000 per mile . .......... c'"&r 1,663 lat consolincomes, gold, non-cum. ($9,600 p. m) c* 1,66::l 2d con.inc.$6,400 p. m.red.at 50% ttllA.ug.1929 .c* 1,663 M~. Nat.-IatM., g., subsidy, arawnat 100 ...••. c• 1,064 I l ~~l$10~&c. ~25,000 --6-1-;~J.1Bos.,2d Nat.Bk.&Port. Jul1, 1, 189'P 1865 lOO&c. 1 ,166,700 6 A. & O. do do April I, 189& .••. 100 1,000.000 5 M.. & N. ManchesterandBoston. Nov. 1, 188g,;. ..•. . 100 25,453,540 l¼inscp Q.-J. N. Y .. 71Broadway. Jan. 2, 189 1 ,506,6!!5 4 A. & O. do do A~ op~ion. i878 1,000 10,818,000 6 g. J. & J. 1N. Y., Mercantile T. Co. July 1, 1908'1879 1.000 4.000,000 6 M. & N. do do Nov. 1, 189~ 1876 1,000 8,500,000 7 J. & J. do do Jan.1.1906 1888 .... None issued. 5 g. J. & D. do do 1988 1886 1,000 1,000,000 5 M. & s. do do Mar. 1, 191&·1881 1.000 554,000 6 g. J. & J.I N. Y., Kessler & Co. J uly 1, 1911 , 1887 1,0UO 1,430,000 • 6 g. J. & J. do do Jan. 1, 1937 •• •. 100 2,378,670 4 .... • •• . • • . . . In 1883 .... 100 3,278,456 3 F. & A. N. Y ., 10 Wall St. Aug. 15, 1889187~ 100 &c. 1,427,500 8 J. & D. N. Y., Chase Nat. Bank. June 1, 1892 1,000 576,200 6 M. & do do Mar. 1, 1908 1 1878 1883 1,000 1,500,000 6 J. & D. do do June 1, 1923 1885 1,000 1,400,000 6 A. & O. do do April 1, 1921> .••• . • .. In trust .••. I .... .. .. .. ..•..••. 1854 1,000 1,260,000 7 J. & J. N.Y.,W.H.Brown&Bros. Jan. 1, 19151867 1,000 1,000,000 7 J. & J. I do do Jan. 1, 19151877 I 1,000 2,264,000 7 g .•r. & J,j do do Jan. 1, 19151884 1,000 1,00U,00{) 6 f!, J. & J. rlo do Jan. 1, 19241 88 1 1 1,000 1,184,000 3 July 1 IBost.Offlce,wben earn'd July 1, 1911 1 8 85 1,000 1,269,000 10 A. & O. Boston Office Apr. 1, 18951881 ' 1.000 1,2·<1,000 7 J. & J. ' do July 1, 1911 1889 $&£ 7,000,'lOO I 5g. J. & J .I Boston &Lnndon. July 1, 1939 1889 1,000 52,3~3.00 l 4 g. J. & J. Boston. July 1, 1911 1889 1,000 15,H00,000 3 g. July 10 Boston-whl:'n earned. Jan. 10, 1939 1889 1,000 9,614,000 3 IJuly l O Boston-when earned. Jan. 10, 1939 1887 1,000 12,100,000 6 g. J. & D. N.Y., National City .Bk. June 1, 192'7 I I S., ' trustee of extension mortgage Louisville S,1,fety Vault & Trust Co. Stock, $3,500.0JO; par, $10U. See statement to N. Y. Stock Exchange, CHRONICLE, V. 49, p. 146; also abstract of mortgage a nd lease, V. 4 , p. 342 and 343. tV, 46, p. 480; V. 47, p. 459,745; V. 49, p. 146,269, 342,471, 540.) Lykens Valley .-Owns from Millersburg, Pa., to Williamstown, Pa. 20 miles; branch, 1 mile; total operated, 21 miles. It is 8 coal road leased and operated by the Northern Central Railroad since July, ·1880, and previously by the Summit Bra1:1ch RR. The lease is for 999 years from March 1, 1866, and t~e rental 1s $62,500 per annum. From_ J _a n. 1 to De~. 31, m 1889 (12 months),_gross earnings from coal and _mmmg operations were $ ~22,1 ~2, agamst $1,0U~,212 in 18e8; deficit, $20,773, against deficit, $15,018. Maine Central.-Owns Portland to Bangor, Me., via Augusta, 137 miles; branches, Cumberland Junction to Skowhegan, 91 miles; Bath ro Lewiston 1rnd Farmington, 76 milea; total owned, 304 miles. Leases -Burnham Junction to Belfast, 33 miles; Newport Junction to Dexter, 14 miles; Brewer Junction to Bucksport, 18 miles; Bangor to Vanceboro, 114 mHes; Penobscot Switch to Mt. Desert Ferry, 42 miles ; Portland & Ogdensburg RR., Portland, Me. , to Lnnenburg, 109 milet1; small branches, 6 miles; total leased, 336 miles. Total operated Sept. 30, 1889, 6 4c0 miles; steam ferry, 7 miles. Since completed Dexter to Dover, &c .. 17 miles. or the stock $1,811,500 is owned. by Eastern RR. of Massachusetts. In Au;e?., 1888, leased Port. & Ogdens. for 99 9 yrs. and µ;uaranteed tts bond ; rental, 1 p. c. on stoclr for first three years and 2 p. c. thereaftep. Tnere are also $58,000 5 per cent debe nture bonds due F eb, 1894, $42,000 Shore Line o per cents, due 1923, and $175,000 Dexter & Piscataquis 4s, due July 1, l!-:129. Dividends since 187fi have been: In 1882, 2 per cent; in 1883, 51.g; from 1884 to date at the rate of 6 per cent yearly. Fiscal year ends Sept. 30. Report for 1848-89 was in V. 49, p. 823. 1885·86. 18fl6-87. 1887•!<8. 1883-89. Total gross earnings. $3,001,076 $3,142,407 $3,389.007 $3,828,162 Exvenses and taxes . 1,820,740 1,948,480 2,199,8 82 2,514,715 Net earnings . .... $1,180,336 $1,193,927 $1,189,125 $1,313,447 INCOME ACCOUNT, Receipts1885-86. 1886-87. 1887·88. 1888-89. Net earnings ..••..•... $1,180,a36 $1,193,927 $1,189,125 $1,313,447 Other receipts......... 7,400 8,870 9,\H9 18,592 Total income ..••• $1,187,736 $1,202,797 $1,199,044 $1,332,039 Disb·ursementsRentals paid.... . .... $189,000 $189,000 $192,573 $233,427 Interest on bonds.... 707,130 717,068 734,031 79.j,391 Dividends............ 215,578 215,598 215,604 215,616 Total disbursem's $1,111,708 $1,121,666 $1,142,208 $1,247,43-t Balance, surplus..... $76,02ij $81. 131 $56,836 $84,605 -(V. 45,p. 820,854; V. 4tl, ll, 573; V. 47, p. 50, '7'74. 823.) Manchester & Lawrence.-Owns :from Manchester, N. H., tc Methuen (State Line), 2214 miles; leases Methuen Branch, 3¾ miles; total operated, 26 miles. Road iD operation since 1849. Leased for 50 years from Sept. 1, 1887, to Hoston & Maine at a rental paying 10 per cent dividends, at which rate dividends had been paid for many years. Manhattan Elevated.-Road operated, 32·39 miles. Tb18 was a corporation formed (Nov. 24, 1875) to lease and operate the two elevated railroads in New York City. The ori¢nal lease of May 20, 11379, guaranteed LO per cent per annum on the stocks. In June, 188-1. all llabill· ti.es were assumed, and new stock was issued. by the Manhattan Co., viz: For Mll.nhatte.n, 85 per cent in new stock; for New York, 120 per cent; for Metropolitan. 110 p& cent, making the whole stock $26,IJOO,OGO. There are large claims pending against the elevatt>d roads for damage property on their lines, and many of these are before the courts. In June, 1888, it was resolved that the balance of n et earnings, aftRr pay• ing the dividend, be appropriated to the payment of jud~ents and claims agamst the company for ,1 amages to abuttin~ real es ate, and in 1887·'8~ there was so paid $513,770 (see V. 48, i, 3t8). In 1886 the debentures of the New York Elevated were issued for advances made by the Manhatt.an c o. and in 188-l $15,000,00U new bonds were authorized to cover all ,beae and to provide for future needs. The scl'ip issued for dividend in April, 1889, bears 4 per ceut, llayable semi•annually, is redeemable at option of company, and is convert1tle into new 100-year 4 per cent c01Hrnls. See V. 48, p. 327. Net floating debt DPc. 31, 1888, wai, repo1ted as $1,818.065 Fiscal year ends Sept. 3U; report for 188d·89 was in V. 49, p. 651. 1885·6. 1886-7. i887·8. 1888-9. Gross earnings .••..••. $7,426,216 $8,102,662 $8,673,871 $9,0><0.881 Operating expenses ... 3,960.191 4.970.4:'°\0 5.201.0fiO n.422,394 Net earnings ..•. $3.466,024 $3.i::s2;,n2 $3.47.: ,8 - 1 $ a .65~,'l r,7 lnterestandrentals ... 1 AOfl.393 1.f>54080 1,554.• ·i:io 1,5.1 4.080 Balance ...•..••. $1,o,w,ti.,1 $1,1>78,132 $ I ,9Hs, 7-H $2,lu ~,4 U 7 Deductdividends ...••. l,f>60.000 1,560,000 1.300,000 tl,4 30.000 Surplus............ ~9 ::1 ,6i$l $18,132 *$6ld,7-. l $074,407 "Ulit of this surplus $513,770 has been paid out in settlement of da'llages to property. t 1 per cent in cash and 412 per cent in scrip. '° https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I IinDividends have been : In 18~4. 3 per cent; 188 , to 1887, inclu ·ive. 6; 1888, 5; in 1889.1 in cas11. and 4.½l in scrip; in 189J, Jan. 2, l½i scrip. Range of prices of consotictated stock since 1883 ll:ts neen as follows: In 1884, 64'2'@79; in 1885, 65'@1:.!3½1: in 1886, 1201l>l75; in 1887, 92121ill61 7a: in 1888, 77¾'@983s; in ld89, 901ill0019; in 18 :JO to Ja!?~ 17, ine.lusive, 1001l> 102 ½!. . . Number of passenge, s ~arried on the el~vated railroads _in New York,. and the gross earnings, smce the completion of the road<:!. Pasrnnger s. Earnings. P assengers. Earning!f. L878-79 .. 46,045,181 $3,526,~25 1884•8n.. 103,3M,7:.!9 $7,000,566 1879-80 .. 60,831,757 4,612,976 1885-86 .. 115,109,591 7,426,216 1880-81.. 75,5>-!5,778 5,3U,076 18~6-87 .. 15tl,9ti3,232 8,102,662 1881-82 .. 86,361,029 5 ,973,633 1887•8rl .. 171,5.!9, 89 8,673,871 1882-83 .. 92,124,943 6.380.506 1881:3-89.179,4~7,433 9,080,881 1883-84 .. 96,702,620 6,723 .832 -(V. 46, p. 75, 228, 2 89, 51 l, 6 50, 802: V. 47, p. 1 ~8 . 592,594; V, 48, P ~ 260, 2 .12, 327,368,580,799; V. 49, p. 207, 227,651, 654, l Marietta & North Georgla-(See Map)-CompletAl1. Marietta, Ga.~. to Murphy, N. C., 112 milt,s; uranch, 7 miles, and 20 mill'IS un Knox• v ll11 exten si nn, mak•n_g total mUe,1,ge at thi~ da.te 13 .t miles. The re,-. ma.ining 96 miles on Knoxville ex.temlion will be oomplmed this yearp Road is nnder construction north to Kn11xville. Ttinn., and south to At· lanta, Ga.,which wi 'l make total milea11:e. incmctmg branches. 260 miles. Stock issued, $1,560,0011. About $ l,5u0,U01, ha; been suhscrlbed by interes ted parties, iucluding :6275.000 bv the cit v of Knoxvllle. The, Central Trust Co. of New York is trustee or the comi~l. mortg., issuedt to extead the road, widt>n the gauge and retire old bond::1, an equat number for the l ,nter pnrpoRe being reserved. After 1~~7 $15,000.vearly will be paid to a sinking fund for these bouds Murtgage on line from Marie tta to Murphy, 112 m., is at rare of llllti,000 a mile, and-, on Knoxville extension f~v,0 ,10, average rate hein,c :ff L7 .3 il0. lHoss earnin!!S y..-ar euo.in~ Mar. :n. 1889. on 90 mileR narrow g>tur.te road, $Ia6,763, against $77.~~8 in 1887-8; net, 77.438, again~t $01,900 in 1887·8. (Y. 48, p. 420, 6e8, 763; V. 49, p. 616.) Marquette Houghton & Ontonagon.-(See Map Duluth Soul~ Shore & A..)-Owns rrum Marquene, .t:lich., to Houghton, 113 miles; branches, 43 miles; total operated, 156 cniles. Has a, laud grant of about80,000 acres. Business consists largely of transportation or iron ore. Leased in pe-rpetuity fro u Feb. 15, 1887, to the Duluth Routh Shore& Atlantic RR., rental bein~ interest on oonds and $196,707 in cash,.. (equal tu 6 per cent yearly on the prtf. s ock), all net e arniugs In exeessof tnis to go to comm,,n stock. In year ending F t: b . t5, 1888. p;ros1tearnings were $1,110,261; net, $518,726; smplus above lixed charges. $195,9~4; dividends paid 16 per cenr,) $196,707; loss to lessee, $754. Memphis & Charleston.-(See Map of East Tennessee Virginia cf Georgia).-Owna from Memphis to Stevenson, Ala., 272 miles; branches-to Somerville 14 miles, to Florence 6 miles: leaaes, Steven son to Chattanooga, 4.0 miles ; total operated, 330 miles. Of the con• solidated mort~age, $1,41,0,000 are secured by the old ·.rennessee State-lien for $1,736,-l06, au1gned to a trustee. and th11s s r,and higher in value June 30, 1 889. There were $229,545 CJ.r trusts outstanding. l'be Etock is $5,312,725; par, $25. The East Tennessee Vir,nnia & Georgia RR. in Sept., 1885, placed a maJorltv of the stock (which it owned, in the Central rl'Ost Co. for control~ The validity of this ownership of stock was ,,ontested by the· minflJ'ltv sto,•kh..>ldere, and in Dtic., 1~89, the 8 prt-m ,, Courr of Ala• bama gave a d~cision probil:>lting thfl East Tennea,-ee from "\"Otlng on. its sto1ck, but permitting it to sell tne same. In Tenuesaee a d60lsion ban b een 111v.-n in favor of the Eai,t Tennestoee pa.rty. Frocn July 1 t ,1 0 1:t. 31, 1889 (4 mo~.). gros~ earnings were $568,196► againsl $171.b2 l in 1881': net, $193,491, again-1t $31,375. Report foryear ending June 30, 1889, was in CHRONICL••:. V. 49, p. 759. In tile ye·ir ending Ju11e 311, 1888, gro1-s $1.759, ; 3:.:l: net, $4.99,757;: surplus over mterest, &c., $103,179. In 18 ➔ 8 89, gro~s earnings► ,i;l,617,9 .t8; net, $38~,l~U: pa1d mterest on b •nds, $3 " 6,680; mtieres• and iosuranc"' on car trusts, $16.934; d.,floit, $4,4:t4; a.h!o paid principal of cart• usts, $42,994. (V. -i7, p . 623; V. 48, p. 39d, 72~; V. 49, P 471,'759, 789, 8i4,) . Mexican Central (Mexlco).-(See Map.) - Milea~e -Ma1n line► Mexico Cit, north, to El Pat<O del Norte, 1,224 wi1e1-, 281 miles on Tam plct> 1>1 \ ision, 11 miles on Guanajuato Hranch, 161 wile~ on Guadalajara Divuuon and 18 miles on tb.e S otn Hlas Divit<ion, autl a bran.ell, 7 miles,. t.o stone quarry, made a total of 1,700 miltls Oct. 15, 18:)9. Other work ln proirress. The company wa.s incorporated Feb. 25, 1080, under the general law of Massachusetts, and by transfer the bompany holds a cnarter from the Mexican Government. granted Dec. 5, 1874. 'Ille comvany baa a subsidv frou the Mexican Government of $15,200 per mile on most of thl:' lin~t-, payable witl1 ~ per ceut of all duties. Altt'l' suspension in lfl85 the payment from l\uti• s waR re -um, d, ao<l w,1.1-1 l p. ct . Jan. 1. 1887, and after that I pe r cent morfl every 1-1lv 11,0,,th "' till July, 1890,,. the full 8 ptlr cent is reache ,. The stock is $41,!l99,800. or the old lat mort. uontiE $2,500,0Ull were 1tevu.,11,.-,u a~ collateral for the dehen :ure bonds. whirh honds may be called 1;-1 1oy AJ!rill 18~0. In 18~9 anew funding phm • aR agreert to (s~e Cl • 1·ul ir m rull, UH RON· ICLE, V. 48, p. UH: al/411 p :trl2, 327). Tbe $7,000.110 0 priority consols,. were issueoi to pay off the coupon notes aud d elitu tures, etc., $1,• 0 .1,000, additioual b eing reserved for new 1·01liug stock, eto. 'l'lle consoL mort _,,, o~ rt~"' ,;''\O ,, ,,✓..•· 0 F ,,, ~--- E ,.,..- - ,-',,,, ; ,, ; ' , ,'£1_; ~- ,-'"', ~ .,...!!1""----Y' _,,.,.. ~ ,-' ,..- .,,, ,-<o y,~, .(:;,, ;1-0 ~~ (. AND ITS CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis }>,C°' °Coalcoman ·tf.~ el - JANUARY, 1890,] . RAILROAD STOOKS AND . BONDS. , 87 Subscribers ,vlll conCer a great Cavor by giving Immediate notice o.t any error discovered In these Tables. Honas-Prmci DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date /Size, or .Amcunt pal,When du& of Par Outsbmding Rate f.er When Where Payable, and by Stocks-Lall-. For explanation of column headings, &c., see notes of Road. Bondi:! Value. on first page of tables. Cen. Payable Whom. Dividend. -- - - - - Mexican National-( Continued)- ---· 2d M., ser." A," g., inc. accum. (for $16,675.000).c* 1,064 1887 $500&c. 2d M., ser. "B," g. ,inc. non-ac. {for $16,675,000).r 1,064 1887 500 &c. 1,000 3d mort., deb {inc. not cum), gold ............. ... r . ... 1887 1,000 Texas•Me ican, 2d M., gold ($15,000p. m.) ..... c* 162 1881 100 Mithigan Oentrat-Btock ....•.... .......•....•.... .•. 1,537 1,000 Consolidated mortgff: ($2,000,000 are 5s) .. c. & r 270 i872 M. C. Miohiiran Air e, 1st M .............. c. & r 115 1890 t,OOO&c 1.000 Michitan Air Line 1st M., assumed by M.. C. . c . & r 115 1870 M. C. onds, mort. on Grand River Val. RR .. o. & r 84 '79-86 1.000 39 1889 1,000&o M. C. mort. on Kal. & S. Hav,m ..•..• ....•..... c&r 1,000 Kal. & S. H. :Zd mortgage, gola ........ ,. •••. o. &r 39 1870 50 84 Grand River Valley, stock, 5 p er cent rental. . .. . -- -· Detroit & Bay City 1st en'd. and bridge . .. .. c. & r 147 1872-3 1,000 M.C. mort. on Det. &Bay C. RR. {regis Q.-M.). c. &r 1-!7 1881 1,000&c Jack. Lam. &Sag. con.m.($1,72Z,000are8s).<'. &r 295 71&80 1,000 13 1866 lOO&c. M iddletownUn.ct:W. Gap-lstm. ext. 25yrs in'86.ov 1871 500&0. 2d mort. guar., interest reduced to 5 per cent .. c· 100 Milw. Lake Shore cl: West-Common stock...•......•. 664 100 Preferred stock, 7 per cent.. .. . .. . ....• ••........ 6G!l 1,000 Consol. mort. for $5,000,000 ($12,000 p. m.) gold . . 1,000 Income bonds (not cumulative) ................ . . 1· ..... 1881 1,000 1882 Equipment bonds of 1882 ($30,000 red. 6cearly) .. 85 1884 1,000 Michigan Div., 1st mortg , gold {for $3,0 O,OU01c~ 1,000 40 188 '> Ashland Division, 1st mortgage, gold ........... c~ 1,000 56 1883 Bt. Paul Eastern Gr'd Trunk, 1st, ~old, int.guar.c* 1,000 1885 Equip. bds. 1885 ($50,000 drn. yearly after '90 ).c 1,000 Conv. debentures, secured bymort. of '89, gold.o* 53i 1887 1,000 1st Ms. on H 1rley & Ooton. branches (dr. at 100).c 16 1886 1 ~89 1,000 Ext.&Imp.M.for$5,000,000, g.,s. f. not dr'n . .. c' 531 1,000 65 188 2 M ilwaukee ct: Lake Winnebago-1st mort., gold ... c* 1,000 65 1882 Income mort., gold (cumulative). int. pa1d ... . . o* 1.000 Debent., convert., g., lessee pays int. till 1894.c* .... 1884 --· -- issi 0 securing both the priori1y consols. and coneol. 4s (trustee, Boston Safe D ep. & Tr. Co.) covers the tnt\re property, and aJso cove , s all old lsts deposited, and a $6,270,000 subsidy earned and to bt3 urned. (See abstract of mortgage in CHRONICLE, v. 49, p. 177.) Bo th series of incomes Bre non-cumulative and secured by one indenture to the Am. Loan & Tr. Co. F rom Ja.n . 1 to Nov. 30, 1 E89 (11 mos.), ~oss earn@. were $ !'\ ,705,458, against $ .'5,282, 719 in 1888; net, $2,533.870, against $2,122,617. The annual r eport for '88 in V. 48, p. 625,632, gave a full account of the affairs of the company and itsprospects, with earnings, balance sheet. &.. c. INCOME ACCOUNT. 18&7. 1888. Receipts1886. Gross earninirs.. •. . ..• •. • . . . ••.•... $3,857,706 $4,886,578 $5,774,:: 31 Net earning@, &c. {U. 8. currency). $1,102,072 $1,680,295 $1,748,4f> 9 204,845 4:36,060 N1:t subsidy rec'd (U. B. currency) t 48,182 1,273 Miscellantous...... •. . . • . . . • . . • • . . . 3,724 Total net income .••.•••.•••..•. Diibitrstments- lnt erest on coupon notes of '89 .•• Intere ton 1st mortgage bonds .. Interest on debentures .. •.......•. Miscellaneous ..•.......•.•••...••. $1,153,978 $1,885,140 $2,185,792 $*192,013 *736,7 10 ,rl8i,500 8~,5_7 4 $Bl6,313 $316,313 1,254,6i 7 1 ,357,717 250,000 250,000 74,612 42,311 --- ------- Tutal.. ..... .............. ... .... .. $1,204,797 $ 1,895,602 $1,966,341 B alance.. ......... . . ... . .•. .. . .. def.$50 ,819 def.$10,4.62sr.$219,451 ~ 1 8 8 6 only half the interest was 11aid in cash. ,r I'his is six mon1hs' full interest, and six months half only in. cash. t The to · al net sub:!idy received to D ecember 31, 1888, was $3,825,· 088 in U. S. currency. -,v. 47, p. 626, -;45, v. 48, p. 12s, 189, un, 292,327,368,589,625, 63.2, '; 64, 80l; V. 49, p. 83, 177 .) Mexican National Railro ad (Mex.)-(See Map)-Owns from Lared.o to Cit y of Mexico, 842 miles: Acamuaro to Patzuaro, 96 miles ; El Balto branch, 4.5 mHes; Matamo1as to San Miguel, 76 m iles; small branches, 5 miles; t otal owned, 1,064 miles; controls through owner• ship of stock, Texas Mexican Railway, Corpus Christi to Laredo, Tex., and branch, 163 miles: other linei;,, 5 miles; total owned and controlled, 1,232 miles. This road was complett d in September, 1888, and opened for traffic about Nov. 1. The forec·losure of the former company (Mex. Nat. Railway) took place on May 23d, 1887, and the present company acquired 716 miles or road, and it also controls the Texas Mexican Railway from Laredo to Corpus Christi, Texas, 161 miles, owning all the l st mort. bonds , $1,196,000 2d mortga"'e bonds out of a total l8sue of $1.380,0UO; $2,453,750 of its capital stock out of a total issue of $2,500,0CO; the Brownsvil'e & Gulf Railway, 1 mile, by the purchase of its capital stock of $ 25,000; the Texas Mexican Northern charter, by the purcharn of all its capital stock, $100,000. The »ew fi r st mortgage for $12,500,000 is a prior lien upon ail the lines in Mexico, constructed or to be constructed, and upon the abovenamed secm1ties. The bonds are redeemable on notice at par. Trustees, Hugh M. Matheson and Charles Magniac. Of the proceeds of th!s issue, $1,650,000 was provided for interest and capital reserve, 1 he remainder bei.ng for reorganization expenses, payment of certal.n ,, bt of old company, and for the construction of 352 miles of main lil and a branch of about 75 miles into the Sabinas coal :O.elds. Of the securities issued in exchange for old securities, th<' econd mortgai;te bonds series "A" are strictly cumulative, and , t fore• closable while stock rems.ins in trust as below stated: the sec .. 1..l mort. gage bonds series " B" are n on•cumu1ative; trustees, Lyman K. Bass and J. A. Horsey. Third Mortgage Income trustees, C. J. Canda and H • .A. Risley. Stock, $33,350,0UO, (par $100) placed in trust with the Farmers' Loan & Trust Co., leaving the road in co11trol of first and second mortgage bondholders until it earns and pays inten:1:1 L on both classes of bonds for two consecutive years, in whicn Pvent the control reverts to the stockholders. The road was oLened for through traffic in Nov. 1888. See annual report for 1888 at length in the CHRONICLE of May 11, 1889, V. 48, pp. 627 and 632, giving status of company, with various details. From Jan. 1 to Nov. 30, 1889 (11 mos.) gross earnings were $3,329,· 430, against $2,142,543; net, $578,781, against $38,628. In year 1888 ,rros1> earnings were $1,9 :t3,913 (A 1nerioan c urrency), net $51,049. (V. 47, p. 200, 410, 454,532,664,709; v. 48, p. l2ij, 647,621, 632; v. 49-p. 83,434, 4.71.) l!llch!gan Ocntral.-LINE OF Ro.A.D.-Main line-Kensington to Detroit, 270 miles; and Windsor to Suspension Bridge (Can. So.), 226 miles; total main line, 496 miles. Branches owned and leased-Mich. AirLineRR.,115; Jol.&No.Ind.,45; GrandRiverValley, 84; Jack. Lan.& Bag., 295; Kal. & So. Hav.. 39: Det. & Bay City, 1413: S!l.g. B ay & No. W., 87. Tol. Can. So. & Det., 56; Can. So. Br. Co., 4; Mich. Mid . & Can., 15; Canada So. branches. lOJ : Sarnia Chat. & Erie, 7; Erie & Niagara, 31; total branches, 1,026 miles; trackage Ill. Cent., 14 miles; total operated, 1,537 mileP, of which 1,101 a re owned. There are 157 miles of second track and 692 of side tracks. ORG.A.NIZ.A.TION, LE.A.SES, &c.-The Michigan Central was chartered l.n 1846; the whole line, Detroit to Kensington, was opened in 1852. Thf' Detroit & Bay City road was foreclosed Feb. 12, 1881, and pur• chased :fer the Michigan Central, which leased it and put a. mortgage https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I ---- · - - - - - - .......... $12,265,0vO 6 g. M.& B. 12,265,000 6 g. April 1 ... 7,040,000 6 g . May 1 184,000 6 g. J. & J. N. Y. Office, 32 Nassau. 18,738,204 2 & 1 ex. F. & A. N. Y., Gr. 'Jent. Dep ot. 10,000,000 7&5 M.&N. N. Y., Union Trust Co. 2,400,000 4 J. & J. do do 200.000 M:.&N. 8 do do 1,500,000 l\f.& s. 6 do do 630,000 M. &N. 5 do do 70.000 M.&N. 8 do do 491,200 219 J. & J. do do 424,000 M.&N. 8 do do 3,576,000 M.& 8. 5 do do 2,579,000 6&8 M.& S. do do 150,000 g. M.&N. N. Y., N. Y. Bu~. & W. 250,000 J. &D. do o 2,000,000 7 N.Y., N. Bk. o:f Com'rce 5,000,000 do do 319 F. &·.A. 5,000,000 6 g. ~f. & N. do do 500,000 M.&N. 6 do do 60 ,000 J. & J. N. Y., S. B. Bands & Co. 8 1,281,000 6 g. J. & J. N. Y. Bk, of Commerce 1,000,000 6 g. M. & S. do do 1 ,100,000 ~ g. J. & J. N. Y., S.S. Sands &Co. 500,000 J. & J. do do 989,000 5 g. F . &A. N. Y., Bk. of Commerce 175,000 6 g. A. & O. N. Y .. S. B. Sands & Co. 2,011,000 5 g. R&A. N. Y., Blr. of Commerce 1 ,430,000 6 g . J. & J. N. Y.,36 Wall St.& B ost. 520,000 5 g. J. & J. do do 226.000 6 /?. A. &O. do da ·--- --- g July 1, 1917 July 1, 1917 July 1, 1937' July 1, 1921: Feb. 1, 1890 May 1,1902 Jan. J, 194.(). Nov.1, 1890Sept. 1, 1909Nov.-1, 1939 Nov. 1, l!:190 Jan., 1890· May 1, 1902-3. Mar. 1, 1931 Sept. 1, 1891 Nuv. 1, 191~ Dec. 1. 1898 Feb. 15, leS<> Feb. 15, 1 89~ May 1, 1921 May 1, 1911 Jan. 14, 189~ July 1, 1924. Mar. 1, 1925' Jan., 1, 1913 Jan. 1, 190()l<'eb. 1, 1907 April l, 1898 Feb. 1, 1929 ·July 1, 191!1 Jiily 1, 191a A p ril 1, 190~ on the road. The other lines described above as leased are·.an held by the Michigan Central nomino.lly under leases at fixed rentals, but are · practically owned. The land grant came from the Jackson Lansing & , Saginaw company as stated below. . · To Nov., 1882, a close contract was made with Canada Southern for working its ruad by the Michigan Central · and for the division or net profits over all charges as follows-one•third to uanada Southem. and two-thirds to Michigan Central; but ·the Mich: Central is. entitled to an increase on this proportion as it diminishes its interest. charge by payment of bonds or otherwise, and hence it now obtains. , more than two-thirds of the net income . . STOCKS AND BONDS-The Michigan Central stock has rema1ned at thesame amount since 1873 . . Prior to 1873 it ·was a r egular ·lO per cent stock. In 1872·73 paid 5 per cent and 4 in scrip, but afterward paid no dividend till 1878, and since then irregular amounts. Since 1870 dividends have been: In 1870-71, 10 per cent; 1871-72, 10; 1872·73,. 5 and 4 in scrip; in 1878, 2; in 1879, 312; in 1880, 8; in 1881, 612; in '82, none paid; in '83, 5; in '84. 3; in 'e5 and '86,nil; in '87 and .'88, 4; in '89, 4.; m 1890, Feb. 1, 2 and 1 extra. The range in prices of the stock has been as'follows: In 1s71·, 114'@ 126; in 1872, 113·@120; in 1873, 65@111; in 1874, 681211>9512; in 1875, 531i>8214; in 1876, 3458@651.g; in 1877, 3558 @7414, in 1878, 5812W75; in 1879, 73¾1i>98 ; in 1880, 751i>l3018; in 1881, 84¾@12619; In 1882, 771i>105: in 1883, 77@10018; in 1884, 51¾@9412: in 1885~ 116121i>79¾; in 1886, 61½ @98¾ : in 1887, 807il9512; in ,1888, 72@9218; in 1889, 84½'W99¼; in 1890, to Jan. 17, inclusive. 93¾1'J955s. TheKal~ & 8 . H. bonds due in 1890 are to be r Aplaced by Mich. Uent 5s due 1939, The Jackson Lansing & Saginaw l'.ebt ls assumed .by Miohjgan Central,. which also pays $70,000 per year on the stock of $2,000,000. OPERATIONS, FINANCES, &c.-The road ls operated under a close con-· tract with Canada Southern and the earnings of· both roads are include<I' in the statistics below. The prelimina,ry statement for 1889, (Decem• ber being partly estimated), was as follows: . 1888. 1889. Actual. Estimated. Gross earnings .......••••••..•.......•...... . $L3,770,000 $13,736,00 0 Operatmg expenses and taxes .. ... ... . .. . •. 10,086,0CO 9,837,000 Per cent of e:xpenses to ·earnings.... ... {73·24) \7 l ·63) Net earninge ....... .••...•.•••.....•.. . .. $3,684,000 Interest and rentals.................. . ...... 2,521,000 Surplus ..••..••••..•...........•..•.....•• $1, 163,000 Canada Southern proportion...... .. ........ . 339,000 $3,899,000 2,512,00~ - $1,387,000 ·---- · _._no,ooo $ 8 24,000 39,000 $977,000 39,000 Net income ($4·60 per share in 1888 and $5·42 in 188 9>. .•. .••. •••••• •••••• $863,000 Dividends on Michigan Central. .••..••..••. (4%)749,528 $1,016,000 (~%)936,91(). Michigan Central proportion ....•....... Income from investments ....••..••...•..••. Balance, surplus......................... $113,472 The annual report :for 1888 was in V. 48, p, 588, as :follows: $79,09(). INCOME ACCOUNT. . Receipts- 1885. $ 1886•.. $ 1887. $ 1888. $ Total gross earn's .. . 10,707,394 12,295,828 14,164,490 13,770,523' Net earnings ...... .. 2,692,791 3,891,14.9 4,289,244 3,683,917 52,718 55,27672,216 45,190 Int. and dividends . • Total income •••••• DisbursementsRentals paid ........ tnterest on debt .••• Can. Bouth'n share.• Miscellaneous .••••.• 2,165,007 , 3,936,339 $ $ 184,310 184,310 2,482,443 2,392,674 407,335 8,679 2,675,432 89,575 Total .•••.••...•• Surplus for div'ds ... Dividends ...••• ..... ·-·. --· Surplus*.•••.••.• 89,575 4,341,962 $ 184,310 2,351,619 540.870 32,513 3,739,198 $ 184,31() 2,336,78~ 33!>,161., 15,938' 2,876,191 3,109,312 2,984,319 863,00~ 1,232,650 952,020 (2) 374,764 (4) 749,528 (4) 74.9,528· 577,256 483,122 113,474. * Balance to credit of income account Dec. 31, 1888, was $2,090,720. -(V. 47, p. 802; V. 48, p. 588, 589,855: V. 49, p. 403, 434, -760, 825.► Mlddleto-wn Unionville & Water Gap.-Owns from Middletown, N. Y., to Unionville, N. J. State Line, 13 miles. Is controlled by N. Y. Sus. & West. by ownership of stock. In year ending Sepi. 30,. 1888, net earnings, $1,083; def. Uiiderflxed charges, $26,873 . . Mll-wankee Lake Shore & We111tern.-(See Map.)-Owns Lake Shore June. to Ashland, Wis., 386 miles; Rhinelan der t,l Hurley, 88 m.;branches (seven in number) to Oshko11h, Warsaw, etc., 116 miles; branches to mines, 26 mlles; spurs to mills, etc., 21 miles; total owned, 637 miles; leases, Milwaukee to L ake Shore Junction, 4 miles; spur, 1 mile; Clinton to Oconto, 56 miles: total leased, 61 miles; t otal operated, 698 miles. This company was organized in 1876 as successor to th& former company foreclosed in 1875. Preferred stock has a prefereno• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. LVoL. L. MAP OF THE MEXICAN NATIONAL RAILROAD ANDITSCON~ECTION& JANUARY, RAILROAD STOCKS AND BONDS. 1890.] MAP OF THE MILWAUKEE LAKE SHORE & WESTERN RAILWAY & CONNECTIONS https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis S9 INVESTORS' SUPPLEMENT. 90 Vor... L. Sub,crtb~r• will . . confer a great f'avor ·b y /;flvlng :lmm~dlate notice ot aay error : Por e:xplanation·of: ~olun;i.n hea.dings,·&c., ee notes .· on first page of tables. --- - - · --.... isfa is6s --· --~~ $1,000 1,000 50 100 100 &o. 1,000 500&0. 100 &c. 1,000 500 &o. 1,000 1,000 1,000 1,000 1,000 1.000 1;000 1,000 1,000 100 1,000 1,000 1,000 1,000 500 &c. 1,000 1,000 1,000 1,000 500 &c. 1,000 to tbe e~tent of 7 per cent from net earnin,zs. The debentures are convertib!e mto stock at par at any time witbtn ten days after the date "fixed for payment of divs. on com. stock. The equipment bonds are re,(leem. $30,000 per year at par; the equip's of 1885 at $100,000 per year after 1890 at 105, and the Ontonagon 1st mort. $25,000 per year at par, and all redeemable at 105. (See bonds called, V. 48, p. 221.) The mortgage of.1889, due Feb. 1, 1029, (trustee, Central Trust Co.) -covers the whole road, subject to prior mortgages, and is a first lien on new brancbes. Under it ere reserved sufficient bonds to re1ire the detbentures f 1887, w.llich are now being exchanged bond for bond. Its sinking f1md commences in 1893, and will receive yearly a sum equal to 1 per cent of bonds issued, but not less than $25,000; bonds being i,urcbarnd if possible at 11 o, otherwise sums to be invested. Dividends have been: In 1887, 7 per cent on pref.; in 1888, 7 on '&)ref. and 4 on comu;on· in 1889 6 on pref.· in Feb. 1890 31.g on pref. ' ' ' · ' · ' .find 7 on common. The annual report fer 1888 was in v. 48 p. 460. ' INCOME ACCOUNT. · 1889. 1888. 1887. 1986. $ j $ $ 2,836,783 *3,484.175 3,180,621 1-G-ross earnings ........ 2,317,802 995,200 1,240,323 1,091,774 1539 824 Net earnings ' ' 12,989 4.7,733 36,181 ecei_pts........ th -0 .... .. .. _ _ _ _ _ _ _ _ _ _ _ _ _....,.__ err · 1,288,056 1, 104.,763 1,539,824 Total ii.et receipts. 1,031,381 579 ' 305} 517,687 4 80 ' 271 Int eres t pai·d · · .... • .. · 703 176 , 31,307 ~ 5 9 3 26,9'10 _ Rental and miscel. ••.• _ 836,648 608,898 548,994 507,211 . Total.............. 836,648 495,865 739,062 .Surplus............... . 524,170 490,0 UO 300,000 430,000 175,000 l>ividends............. 6 on pref. 7 on both. ·B ate of dividend ...... 3~onpref. ·7 onp. 4 cm. ______________ t346,648 tl95,865 309,062 Balance............ . 349,170 • Gross revenue partly estimated. t Of thts balance $155,000 was used for red!>mption of bonds. 1 Of this $55,000 was used in redemption of bonds. -(V. 47, p. 381,744, 74.5;803; V. 48, p. 221,292,460,556,800; V. 49, p. 52, 403, 793; V'. 50, p. 7.1 , 107.) 1'.lllwaukee & Lake Winnebago. -Own s from Neenah to .flchleisingervill~•Wis. Built in 1882 and leased for 9~ years to Wiscon. -sin Central at ;:s7¼ pe!" cent of gross earnings as rental; but after $175,000 per year is received the biµance of net earnings is to be equally divided. The $1,000,000 debentures· were authorized to-be issued a s required for improvements, and they are convertible on any coupon day '1.nto pref. stock; the lessee pays interest on them till 1894. Prer. stock, -~ per ct. cum., $780,000; com. stock. $520,000; pltl' of shares, $100. Oregon & Trans-Continental owns $277, 500 pref. and $226,000 common. ' Dividend of 3 per c~nt on preferred stock was paid July 15, 1888, 6 In · Jan., 1889, and 4½ m Aug. In 1887, rental was $167,954; in 1888, :$165,532; net over all ch8.!ges, $51.,146. ltlilwaukee & Northern-(SeeMnv.)-Owns from Bchwartzburg, 'Wis., to Champion, 257 , miles; bra-n ches-Menasha and Appleton t,0 Hillbert, Wis., 21 m .; Ellis June. to Moo•n1inee, 26 m; to Oconto. 14 ·miles; total operated, 303·miles. Uses Chicago M. & St. Paul track, 7 .miles, into Milwaukee. Road to he 434 miles long when completed. Bee 1ull statement in V. 44, p. 813. Stock, $4,131,000; par $100 per share. 'The consolidated mogage is for· $8,000,000, limited to $17,000 p:ir iimile of completed road, and '$2,155,000 bonds under this montgage are ireserved to retire the bonds is ued in 18130 on the old road; on tlie new r!l'oad $2,996,000 have been issued. Total funded debt July, 1889, · $5,151,000. Jan. 1 to July 31. (7 months) gross earnings in 1889 ·wsre $645,207, . against $586,249 in 1888; net, $162,915, against $155,110. INCOME , ACCOUNT. · Gros@ earnings ................. : ................. $976,137 Net earmngs ...................................... $319,573 ,Interest on bonds .............. - .................. 200,100 1888. $1,-085,719 $328,332 216,958 Surplus ....................................... $119,473 $111,374 . 1887. -(V. 45, p. 53,613,672; V. 4~,p. 75; VAS, p. 399; V. 49, p. 235, 616.) Mine Hill & Schuylltlll Haven.-Owns from Schuylkill Haven, Pa., to Locust Gap, Pa., with branches, 53 miles. Road was lease~ •ay 12 ,.1864, to the Philadelphia & Reading Railroad Co. for 999 years at a rental or $326,552 , per year. · There is no debt, and regular div1 ,cends of 712 p. o. are paid Operations are included in lessee's returlll!. Mineral Hange.-Hou~htori, ·Mich., to Calumet, Mich., 151.g m11:es: branch, Frauklin Station to F,ran]mn, 2 miles; total 1711! miles. This road was under the H.B. Ives management, and Oct. 1, 1887, defaulted in payment of iiilterest. Overdue coupons have slnce bt!en. paid 11p t.o &he- date sh.o wn in the table above. The recelver appointed in .Tune, 1888,-was discharged Nov. ~O, 1889, and road restorc:d to com. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis In the ■ e Table•• Bonds-Prinot Due Miles Date Size, or Amount Rate perl When Where PWiable, and by pal.When Stock8- Last of of Par hom. Dividend. Cent. Payable Road. Bonds Value. Outstanding •il:w. fl Northern-lstmort. Schwarz. to Gr.Bay.c~ ·126 1880 Cons. M. ($17,000p. m.), lstM.northof Gr.Bay.c• 177 1884 JHne Hill fl Schuylkitl Haven-Stock 7 ¼ % rental .. Mineral Range,-Stock • ........... ~ ................... "i1~ let mort., due June 1.1888, but not paid .•••.••. 12~ 41.g 1885 let M., ~•d, on Calumet exten., convert. into stock Houghton exteneion, gold .•• .-.••...•••.••..••..•.. ..... 1886 1886 Mortgage of October, 1886 ........................ •inneapoliBctSt. L.-lst M.,Min. to Merriam Jcn.o• ..ii 1877 93 1877 let mort~agi Merria.1:11 Junctio~ to State Line .. c: 15 1877 let m.,Minn. Dul.,Minn to White B.Lake,~ar.c 1st mortg., gold, caup. (Al. Lea to Fort Do ge). c* 102 1879 Imp. and equip. M. , 1st& 2dser., jun. lien on r'd.c* 360 1882 Mort. on Southwestern extension \$12,000 p.m.)o* 53 1880 2d.bds.,inc.,red.at lOOg.(WhiteB'rtoFt.Dodge)c• 224 1880 1st mortgage, gold,- Pacific Extension .....•.... c* 92 1881 ICinn.St.P.<ES.Sre.Marie-M.B.St.M.& At.,lst M.i.c: 495 1886 Minneapolis & Pa-c.-lst M., $15,000 p.m.,gol .c 286 188 6 Consol. M. (for$21,000,000), $20,000 p. m., g .. c* 800 1888 •ils<YUn Kansas fl Texas-Stock ($5,157 pref.) ..... . 1,749 lstM.,g, s. fund,landgrant(U.P.B.Br.), red. at 120 182 1st mort,. fld (Tebo. & Neosho) s. f., red. at 100. 100 1870 1st&2dM. an. & Cent. Mo.,(2dM.,$32,000,1892) 70 1870 Consol. M., g., on road a;ndland (red. at 100).c*&r 786 1871-3 2d m., income, exchanjeable for genl. m. 5 per ct. 786 1876 1873 Booneville Bridge,lst .p;old,~ar. ,s.f.dr'n at 100. General consol. mort., gold, ( 9,381,000 are 15s) .. 1,565 1880·6 East Line & Red River 1st mort .... _............. 156 1880 lnternat. & Gt. North'n 1st mort., gold ...... , .... 776 1879 2d mortgage, gold ................ c* 776 1881 do Colorado Bridge bonds, sink'g f'd. . do 1880 , dl ■covere'll. INTEREST OR DIVIDENDS. . DESCRIPTION. . . J. &D. N.Y., Merch.Exch.N.Bk June 1, 1910 6 $2,155,000 do do June 1, 191 3 J. &D. 6 2,996.000 31.g J . & J. Phila., Office, 119 B. 4th Jan. 15, 1890 4,081,900 July 5, 1887 Q.-J. 219 400,000 Overdue. J. &D. Last paid June, 1888 8 198,000 5 g. A. &O. · Last paid April, 1888. Oct. 1, 1915 100,000 1888 July, paid Last 1, 1916 Jan. J. & 5 g. J. 100,000 J. & J. L ast paid July, 1887 Jan. l, 1937 4 214,000 !889. July, paid Jan. 1, 1907 7 g. J. & J. Last 455,000 7 g. J. & D. Last paid Dec., 1887. June 1, 1927 950,000 7 g. M.&N. May,'89, cou. p'd in Sep. May 1, 1907 280,000 7 g. J. &D. Last paid D ec., 1887. June 1, 1909 1,015,000 J. & J. Last paid July, 1887 July 1, 1922 6 4,000,000 7 g. J . &D. Last paid Dec., 1887. Dec. 1, 191 0 636,000 Jan. 1, 1891 7 g. .r. & J. Last paid Jan .. 1888. 500,000 6 g. A.. & o. Last pa.id Oct., 1888. April 1, 1921 1,382,000 5 g. J. & J . N.Y., Mor'n, Bliss & Co. July 1, 1926 10,000,000 do do Jan. 1, 1936 J. & J. 4,290,000 5 do do July 1, 193 8 5 g. J. & J. 6,710,000 46,410,157 ··trg. J. & J. Last paid Jan., 1888. Jii.n-:i:·is99 2,009,000 7 g. J. &D. N. Y., Union Truet Co. 346,000 June 1,1903 696,000 7 g. M.&N. N.Y.. Mercantile Tr. Co. May,1890&'9 2 14,877,000 7 g. F. &A. Last paid Feb., 1888. 1904-05-06 None paid. M3,000 A. & O. April 1, 1911 6 778,000 7 g. M.&N. N. Y ., Union 'fr. Co. May 1, 1906 27,305,000 5 &6 g. J. &D. Last paid Deo., 1887 Dec. 1, 1920 J. &D. Last paid Dec., 1887. June 1, 191 0 347,000 6 6 g. M.&N. Last coup. pd. Nov., '88 Nov. 1, 1919 7,954,000 7,054.000 6 g. M.& S. L ast coup. pd. Bept.,'88 Sept. 1, 1909 M.&N. Last coup. pd. Nov., '88j May 1, 1920 225,000 7 .... .... .... I pany. Plan of reorganiization is being prepared. In 1887, gross earn· ings, $153,782; net, $97,661; interest, $35,544: divldend (7½ per cent), $30,000; balance, $32,117. Gross earnings in 1888, $99,561; net, $39,967. President, Charles Bard; John Tully, Secretary, 40 Wall St.-(V. 45, p. 272, 538; V. 46, p. 738; V. 4 7, p. 802.) · Mlnneapol~s ~ St. ~oul~.:-9wns m~in line, Minneapolis to A.ngus, Iowa, 2a9_miles; Paci.tic Divis10n,Hop~s to Morton, 92 miles ; Ka.JO Branch, 2 miles; Lake Park~ranch, ~¼ miles; total operated, 35419 miles. ~eases trackage from Minneapolis ~o St. Paul over St. Pa~ & No. Pa~iflc RR.; also owns from Minneapolis to White Bear, 12 m.tles, which is leased to the St. Paul & _Duluth RR. Of the bonds issued under the 1877 mort. due June, 1927, ~hose n~m• bered from 1,101 to 1,400, for $500 each (,150,000 in all, m addition to those above), ~ere assul!led by the Bur. Cedar Rapids & No. RR: The bo~ds on the 15 nnles were ISS)led by the Minneapolis & Duluth Railroad pefore it was absorbed by this co~pany. Preferred stock, $4,000,000 issued; common stock, $6,000,000 issued; par of both $100 per share. Most of above lat mortgages are also a second lien on more, or less of the road. The Jan., 188~, coupon on equi.r,ment bonds went t o default, and subsequent coupons are unpaid; but in Jan., 1890. the coupons to J uly, 1 89, on the 1st mortga ge, Minneapolis to Merriam Junction, were paid hy order of Court. W. H. Truesdale, P.res't. was appointed receiver in June, 1888, in the foreclosure suit under imp. and equip. mort. The sult is pending but no plan of reorganization has been offered. The Wis. Minn. & Pac., Red Wing, Minn., to Mankato, 95 m. , and Morton Minn., to Watert: Junc.,Dak.,121 m., is leased and operated bythie Co., but all of whloh for the bonds, $3,228,000, the M. & St. L. has no 11 Chi th oolil.ration 1j;a~: /R:ac. oo ateral trust mortgage. ;~~cf\~d!~e~t;bhic~ R. t& From July I to Nov. 30, 1889 (11 mos.), gross earnings were $730,227 against $628,712 in 1888; net, $274,707, against $211.683. For year ending June 30, 1888, gross earnings were $1,377,889; net $362,8813; deficiency under charges, $172,051. In 1888-89 gross earn• iogs, $1,330,518; net, $333,9a8. Annual report in V. 49, p, 340. -(V. 4. 7, p. 21, 626 ; V. 4 8, p. 100, 662; V. 49, p 235, 3 40 ; V. 50, p .• 71.) ltlinneapoll• St~ Paul & Sault Ste. Marie.-( SeeMap.)-From Minnoa:i,1olis to Sault Bte. Marie, l.\flch., 491 m.; branche.,, 23 m.; from Minne-apolls northwest to Boynton, l>ak .. 286 m.; total compli:-ted, 800 m. In prc,uess to BismarcJi.'.. Connects with Oa.nadian facifl.o. This ()o. was furmed .May, 1888, by a consolidation of l,h e Mmn . Sault Ste. Marie & Atlantic, the Minn. Ji Pacific, tne Mino. & At. Croix and the Aberdeen Bismarck ..: N<>rthwestern. (See V . .t6 . u;>. 533, 609 .) A large block of , fl.,. ,tock was sold to capitalists interested in the Canadian Pacifl.o, which company will thus work with the consolidated roan, t:h-ucA-com., $l4,000,00tJ; pref, $7,000,000; par, $100. The first mortg. bonds of M. B. 8. M. i: A. were issued in 1887 at $20,000 per mile. (Abstract ot mortgage V. 45, p. 243.) Tae oonsvlidated mortgage of 1888 (tmstee, CentraI Trust Co.; mortgage abstract UHRONICLE, v. 4.7, p. 142) will retire these and the Minn. & Pac. bonds at ma.urity. From Jan. 1, to Nov. 30 (11 months), gross earnings were $1,473,17~ in 1889, a-gainst $1,007,057 in 1888; net, $526,588, against. $l74,• 020.-(V. 46, p. 38, 538, 609, 771, 802; V. 47, p. 142,161; V. 49, p. · 373.) Missouri Kansas & Texas.-ROAD OWNED A.ND OPERATED.Hannibal, Mo., to Denison, Tex., 575 miles; branches, Dallas & Green• ville extension, 52 miles; Parsons, Kan., to Junction City, Kan., 157 miles; Denison, Tex., t o Taylor, 258 ·miles; . Whitesboro to Henrietta., Tex., 86 miles; Denison to Mineola, Tex. (of which 71 milE'ls, Whitesboro to Fort Worth, underjointlease with T ex as & Pacific), 103 miles; Den• ton, Tex., to Dallas, 'l'ex., 39 miles; Eeho, Tex., to Belton, 7 miles; Trin• ity to Ogden, Tex., 67 miles; coal branches, 8 m .; J efferson, Tex., to McKinney, Tex., 155 m.; Taylor to Boggy Tank, 89 m.; Ka'.!. City & Pac., Coffeyville to Paola, 125 m.; other lines 30 m . 'l"otal,Nov. l, 1889, l,74~ miles. International & Great Northern, from Longview, Texas, to Galves• ton, Texas, . 282 miles (of which 50.· miles leased from G. H. & H.), and Palestine, Texas, to Laredo, Texas, 415 miles; branchesHouston to Columbia, 50 miles; Phelps to Huntsville, B miles; ~lineola to Troupe, · 44 miles; leased-Round Rock to Georgetown, 10 miles; Henderson to Overton, 16miles; total operated, 825 miles. The Holden bran ch, 54 miles, is · owned by M. K. & •.r., but leased to Mo. Pac. In 1889 a tra!bc agreement was entered into wl h the Kansas City & Pacific which now forms part of M. K. & T. through line to Ka nsas City. ORGANIZATION, HlsTORY, &c.-The M. K. & T. Company was organized A.pril, 1870, and embraces by consolidation the Union Pacific Southern Bra.nob, the Tebo & Neosho and other minor companies. In 1874 the Hannibal & Central Mo. was purchased. The road was operated by a re• ceiver from JJec. 30, 1874, to July 1, 1876. when the Union Trust Company of New .York took possession. On Dec. 1, 1880, the company took possession of its property, ·paying the overdue coupons. The company has a land grant in the Indian rerritory of 3,622,400 acres subject to the extinguishment of the Indian title. The Booneville Bridge Company is a separate organization. In May, 1881, an operating lease to the Mo. Pac. for 99 years was made without any liability of the lessee for interest, etc. On June 1, 1888, the M:. K. & T. made default in its interest payments and a foreclosure suit was ·begun; H. C. Cross and-George Eddy were appointed receivers in Oct., 1~88. Large claims tor advances were J.ANU.ARY, RAILROAD STOCKS .AND BONDS. 1890.] MAP OF TH~ MILWAUKEE AND NORTHERN RAliLROAD & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 91 MAP OF THE MINNEAPOLIS, ST. PAUL -AND- SAULT STE. MARIE RAILWAY & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, 1890.j 9:J RAILROAD STOCKS AND BONDS. Sub11crlben will confer a gre>"-t favor by giving Immediate notice of any error dl11co~.-n,d in these Table.• .VES<...,'RrPTION • INTEREST OR DIVIDENDS. IBoruu-Prtnol• !\lileE- Date !:!ize, or Amount pal, When due. For explanation of colllllllJ headingl!I, &•J,, see note;, of o:t .t>ar Outstanding Rate per When Where P1>r.aL.11e, and by Stodu-.Last on .d.rstpage of tab!, . . _ _ _ _ Roac. nona.;.. Valut:. Cent. PayaN~ -Whom. Dividend. --------------·-------1 1----------------- ---·- -·------ Jl.i860Uri Pacijlc-Btook .••..••.•••. ~ ................. 4 .994 lstM., g., (..l'ac. RR. of Mo.) ext;(>nded ln 1888 .••. 283 isii8 2d M. (Pao. RR. of Mo.), (s. f. $50,000) ....... . .... 283 1871 1st mort. on depot ln ~t. Louis (Pao. RR. of Mo.). 1872 1st M. u ...rond. Br., ,Pac.RR. of Mo.), ~uar..•..••. 1873 .Sd M. (covering all property of Pao. RR. of Mo.). 299 1876 1st mort. on St Louis & Lexin~ton (Mo. Pao.) .••. 1390 Consol. M.,g., $30,000,000 ($1 ,286,000 res'd) . o* 1,060 1880 Collateral trust bonds, gold ($15,000,000) ... c*&r 1,120 1887 Ler. &Caney Val. RR.lstM, g,gu. ($10,000p.m.)c* 80 1886 ';5 1886 VerdhmsVall. Independence &W.,lst M.,g., guar. St. L. Iron Mt. & eo., .1st mon., coupon .. . .••.•••. 210 1~87 2d mortgage. gold ................ ... .......... . o* 310 1872 Arkansas Branch, 1st :::nort., gold, land grant. 99 1870 Cairo Ark. & T., 1st, gold, coup. or registertd .. 71 1872 Caj ro & Fulton. 1st, !old, on road and land .••. 304 1870 Gen. oonsol. and Ian gr. M., for $4.5,000,000, g 1255 '81to'7 Little Rock & Fort Smith-1st M., land gr. sink. rd. 165 1875 Sedalia Wari:aw & Southe1n, 1st mort ..•.. ••..•.. 1880 Little Rock Junct'n, 1st & 2d M. ($35,000 are 21'.l) --·2 1884 lzobite <I Birm.-lst,f.:•~ar. ($20,000 p. m.) ... o&r 147 1887 Mobile <I Dauphin Is.- st M.,~. (for $3,000,000).c 1888 Mob ile <I Girard-3d M. ($200, 00 are fls) ...... . .. c ·s·5 1877 Mobile ti- M<mt.- L.&N.RR.Co. ,M.&M. n't deed b'ds. 179 1881 Jlooii, <I Ohi<>-lst M., g'd, Mcb. to Colum., 472 m . o~ 472 1879 \st mort.,exten.,gold, Colum. w Cairo & t,ranch.c* 55 1883 Gen'lM.(lnt.maJ; be paidlnscriptill'92}1. g. e.f.c* 527 188~ Equil.'ment bcm s {$60,119 of these are oar trustsJ '84to'9 M.onter·ev cf: Mex. Gulf-1stM., 1X· $25,0fO perm c· 50 1888 Montgom. <I Eufaula-lat, s. f., $15,000 not drn . . c• 81 1~79 15¼ $100 $43,974,850 1,000 7,0v0.000 2,573,000 1.000 500 &o. 800,000 500 245,000 3,828,000 1,000 500 &<, 650,000 1,000 ]4,904,000 1,000 14,376,000 LOCO 520,000 750,000 1,000 1,000 4,000,000 1,000 6,ooc,ouo 2 ,r,uo,000 1,000 1,450,000 1,000 7,103.000 1,000 1,000 18,118,000 2,342,500 500&0. 338.0()0 1,000 1,000 435,000 ~,0(10,000 1,000 1,000 350,000 1,000 1,000,000 l,OOO&c 2,689,000 7,')00,000 500 &o. 1,0\JO 1,<'00,000 8,151,500 500 &o. f-i00.812 1,000 l,C.00 1,25" ,000 · 1,000 1,500,000 made by the Misso11ri Pacific Co., lessee. In October, 1889, a plan of reorganization was offerrd by the Olcott Committee, but this was changed, a nd their fUbEequent plan was brought forward in November and outlinf'din the CHRONICLE of Nov. 30, on page 719, and the Klni;rAdams plan in the same place. (See also V. 50, p. 107) · The International & Great Northern Railroad had been foreclosed in 1879 and was acquired b;y: Mo. _Ka.n. & Tex. In May, 1881, by an ex• change of two shares of Missouri Ka.nsas & Texas stock for one of International & Gr~!),t Northel'1;1· The Int. & Gt. N. stock (97,28~ shares) is held byMerc~nt1 ~ rrnst Co. u:i:idt:r; specla~ trust: In April, 1889, M. K. & T. was proh1b1.ted from voting 1t by an mjunct1on. Def~ult w as made on 2 d_mortgage m March, 1889, and on the 1st mo!tgage m May. 1889. Receivers were appointed Feb. 16, 1889, and agam by the loc1Jl Texas courts, leading to some conflict of authcrity.-(See v. 48, p. 25l, 3.2~. 368. In Dec., '_89, Supreme Court of T~J' as iave an important de msion in favor of this company, sustaining its nght to tax.•exemption. -(See 49 p 78Q 1 The r. ' & ·G. N: guarantees $2,000,000 of Galveston Houston & Hen· de1'£1on 1st mort. 5per cent bonds, of which M. K. & T. owns $400,000. In 1888 gross earnings of the Int. & GJt. Nor. (partly estimated) -were $2,949,227; net over expenses, $395,891; fixed charges, $916,230; de• flcit, $520,339. BTO~K AND BoNDs.-M. K. & T. has ranged as follows elnce 1877, viz,: 1878, 2@7:Is; 1n 1879, 53@@35~ 1n 1880, 281s@4914; in 1881, 347 @54.· in 1882 263@@42¼ • in 1883 1912@347s• 1n 1884 9¼@2314· In8 1885, 14~@37:Is; 1n 1886, 21@3814; 1n 1887, 16-½11}3414; 1n 1888, io-~ 183s; 1n 1889 9@14; 1n 1890 to Jan. 17, Inclusive. 9@11~. There 18 also {,Utstanding $453,014 lncome bond scrip bearing 6 per cent; other scrip, $9,174. The consol. mort. 7 8, due 1904--6, had a slnklng fund of 1 per cent a year, beglnnlng ln 1874, but the sinking fund bas not been fulfilled. An analysis of the general mortgage of 1880 shows: Reserved to retire underlying bonds on old road, $18,535,000 sixes; issued on account of new road built or acquired, $17,924,000 sixes; total six:el! authorized to date, $35,815,000. Fives issued for incorre bonds and scrip, $9,340,000; total genl. oonsols. outstanding, both 5 an<l ti per cents, $27,264,000. There has been somf confusion ln regard to the number of bonds listed at the Stock Exeha fl .~e and the amC'11nt. 11,ctuan~ outstanding, since the numbers from l to 18,217 otlginally reserved to retire prior liens, hay~ been listed ever since 1881; also the fives are listed ln the same series of numbers with the sixes, embracing the num· bersfrom 28,217 to 45,815 inclueive. See abstract of consol. mort. of 1871 in CHRONICLE, v. 47, p. 227, and of general consol. of 1880 ln v. 47,p.170. In six months ending Sept. 30, 1889, grossearnlngs were $3,895,809; net, $781,198. No report for year 1888 was issued. 'Ihe Missouri Kansas & Texas annual report for J 887, in V. 4.6, p. 380, showed: 1885. 1886. 1387. 1,3ti6 1,386 Miles of road oparated Dec. 31 ... 1,611 ~---- ----------- Q.-J. N. Y ., Mercantile Tr. Co. n.:, ~~ -.r. F. :. .A. do ao J . & J. do M.&l't. do 8 do do 6 g . A. & O. do do M.&N. 7 do F. &A. do 5 ' do do 6 g. M.&N. do do 5 g. M. & 8. do do 5 g. do do 5 g. do do F. &A. 7 g. M.&N. New York or London. 7 g. J. &D. .N. Y •. ~!ercantlle Tr. Co. · d. do 7 g. J. &D. do do 7 g. J. & J . do do 5 g. A. &O. do J. & J. do 7 do do M.&N. G do do A. &O. 7 Y., Chas .:. Nat. Bank. N. & .J. 5 fr, J. b g. F. &A. N. Y. Of., 32 Nassau. N. Y.Kessle,:&Co.54Wal1 4. &6 J. & D. 6 g. M.&N. N, Y., L . & N. Ollioo. 6 g. J. &D. N Y.,Farmers' L,&.TCo. do do 6 g. ~-Jan .& s. N. Y.,Gallatiu Nat. Bank 4 Qrtar. N.Y .. Farmers' L.&T.Co. 6 5 ~. M.&N. New York and Lonoon. 6 J. & J. N. Y .Kessler&Co.54Wall l 4 'l ,, ~.it Jan. US, 188i Aug. 1, 1938 .TuJy 1, 1891 May 1, 189Z Oct. 1, 1893 Nov. 1, 1906 Aug. 1, 1920 Nov. I, 1920 Jan. 1, 1917 July 1, 1926. Feb. 1, 192f Aug. 1, 189Z Mayl, 1897 Juva 1, 1895 June l, 1897 Jan. 1, 1891 Aprtl 1, 1931 Jan. 1, 1905 May 1, 1910 April, 1914 Ja11. 1, 1937 1928 .Tune I, 1897 ltlay 1, 1931 Deo. 1, 1927 July 1, 1927 Sept. 1, 1938 Var ,'90to '97 Nov. 1, 1938. July l, 1909 I souri Pacific and branch lines, Jan. 1, 1889, 3 ,119 miles. Also operates Centra,J. Branch Union Pacific, 388 miles; Sedalia Warsaw & Southern, Sedalia to Warsaw, 42 miles; St. Louis Iron Mountain & Southern, 1,190 miles; Little Rock & Ft. B. and Little Ro<:k Junr., 172 m.; Kan. & Ark. Va.lley, 83 m.; total, 1,875 miles. Grand total Missouri Pacific mileage, J an. ::., 1889, 4,994 miles. ORGANIZATION, LEASES, &c.-The Pa.cifto Railroad of Mo. was sold in foreolosur€ Sept. 6, 1876. The present company was a consolidation ln Aug., 1880 embracing the Missouri Pao. and a number of minor roads. The st. Louis Iron Mountain & Southern stock was taken up with Mo. Pac. In May, 1881, on the basis of three shares of Mo. Pac. for fo~ shares of Iron Mt. and the st. L. & Iron Mt. stock b held by Mo. Pao. ' . STOCK AND BONDB.-Under the ~ew r_egime the payment of dividends W!),S_begun ~n the present s~c~ ill 8?,.m, which !~~ llg ~· o. was P~!L. D1V1dends 81:DCe have been. Cn 81, 6, m 82, ff¼, m 83 to 87 ~cl., 7, in 1888, 514: m 1809, 4; in 1890, Jan., 1. Ranie of stock prices slnoe 1882 bas been a,s follows: In '83, ?6~106 7s; m '8~, .63,½@100; ln '85! ?ll~~lll~) in 86, 100~@119; m_ 87, ~4~l2112, m 88, 6614@89~, m 89, 641s (1)78; in 1890 t_o Jan. 17, mclus1ve, 71½@74-½I. The consoL mort. above 1s for $30,000,000-trustees John F . Dillon and. Edward D. Adams. Of the oons~l. bonds the balance unlssaed is ln the hands of trusf!e~s to redE?ell:1 pr10r bo.nds as they ran due. Bee abstract or mort. oontammg desor1 pt1ons of prior liens, CHRONICLE,V. 47, p. 287. The collateral trust bonds due 1917 (Union Tr. Co. of N. Y., Trustee> are secured br, mortg. bonds of new railroads at $12,000 or $15,000 perm. For securities pledged, &o., see Cfl:RONICLE, V. 46, p. 678. Thd Leroy ell Caney Val. RR., ln Kan1~as, 80 .m., is leased and bonds guaranteedty Mo. Pacitl.c as also the Ve;digris Val. Independence~ Western. OPERATIONS: FINANCES, &c.-The foUowing 1s a preliml ary state• ment for 1889. Gross earns. Expense!!. Net earns. Ten months' actual. .••..••...•. $18,728,628 $12,632,113 $6,096,514 November and December est'd. _!,_5~0,.000 __:~700,000 1,600,000 Total ..••.......•..••...•..••. $23,228,628 $15,332,113 $7,896,514 Interest and dividends received on lnvest'llents.. .•. . . . . • 1,032,027 Total. .•. ·· ·······••··••··•·· ·••··••··••···•· ·••··••· · ·•··· $8, 92 8, 541 Interest on bonded debt, taxe•, etc....................... ... ~183,~ Bala.nee .... . .................. . ........................... $ 2 ,7 4 5,0ll Four quarterly dividends paid of 1 per cent................ 1,758,99'1 Net surplu3..................... ....... ................... 986,071 The annuai report ot Mo. Pacific for 1888 was in the CHRONICLE, V. ~8. p. 365. The earnings and Income account were as below. The gross earr> ing@, operating expenses and surplus earnings of all line• operateti for the years 1887 and 1888 wue a s follows: 1888. 1887. Ino. or Decrease. Miles operated, avera~e... 4,813 3,831 Ino. 982 Earnings fr· n$1,575,920 $1,654,270 Total earnings .••.. ... ....•. $22,189,453 $23,519,999 De :-. $1,330,545 5,470,742 5,292 344 Total expenses ..•..... . .•.. 15,852,842 14,638,270 Inc. 1,214,571 404,982 420,109 Mail, ex.l,!I'~!:'" 1mt1 misoella.neou.. 427,082 Surplus earnings....... $6,336,61L $8,881, 7 ~9 Dec. $2,545,117 Total earm..:..g~ ... • • .• . . . ... • • ·1 6,853,655 $7,451,644 $7,366,72li 62·24 p.o. Inc. 9·20 p.o. 5,500,140 Ratio op. exp. to gross earn. 71 ·44 p.o. Operating e:xpensei:,.... . . . ••• 4,055,101 4,228,755 For the Mi, souri Pacific proper and branches (3,119 miles), not in• Net earnings....................... $2,798,55~ $3,222,81W $1,866,583 clualng Iron Mountain and other auxiliaries, the 1 eport was as foHows : 56·74 Ratio of earnings....... ......... . 59·1 74·66 INCOME ACCOUNT. EARNINGS AND EXPENSES. 188':'. 1888. Reuipu1885. 1886. 1887. 1886. 2,796 3,119 Net earnings.. ............. ....... $2,798,554 $3,222,890 $1,866,583 Miles operated Dec. 31............ 1,488 Dividends, &c.. ... ....... . . ....••. 189,799 126,453· 41,874 Earn-tng&Total net Income $2 9&8 353 $3 349 3 4 3 $l 908 457 Passengers.... . • • . . • • . . . • . • . • • . . . $2,020.597 $2,845,458 $2,939,725 7,790,949 Di8bursements- ·········--··· ' ' ' ' ' ' Freight ......................... :. 5,518,296 8,537,017 1,647,967 Intereston bonds .••.•••...••••... $2,439,427 $2,483,363 $ 2 , 781 , 480 Mailexpress_and miscellaneous. 1,106,127 1,597,114 Taxes, rentals, &o..... .••...•••. .. 3]0,646 *1,502,022 425,782 Total earnings...... .. ....... $8,645,020 $12,979,589 $12,378,641 Total disbursements.......... $2,750,073 -$3,985,385 $3,207,262 Operating Pxpenses......... . • .•• 5,238,723 8,286,594 9,411,9SO Balance for year............ . . . . . . . +$238,280 -$6::l 6,0'12-$1,298,805 Net earnings...................... $3,406,297 $4,692,995 $ 2,966,661 * 01 this about $800,000 was paid to Int. & Gt. N., ln settlement. -(V. 48, p. 159,326,368, 36~,398,462,4P0,527,556,5e9,662,730, INCOME ACCOUNT. 764,799, b28,854.; V. 4.9,p.22, 114, 173,206,300,341,434,540,54.4, 1887. 1888. Receipts1886. 580, 616, 617, 719, 760, 789, 825, 856; v. 50, p. 71, 107.) Net earnings................. . . • . $3,406,297 $4,692,995 $2,966,661 1'.ll88OUrl Paclfic.-ROA.D OWNED AND OPERATED-Operates malD Dividends, interest, &o.. •• . . • .. • 3,014,262 941,376 1,360,832 line St. Louis, Mo., to Omaha, Neb., 496 miles; Pleasant Hill, Mo., to Joplin, Mo.. 133 miles; Verdigris Valley Independence & West. RR. and Total net Income .••...••. ... $4,767,129 $7,707,257 $3,9C8,037 exten.-Leroy to Deering, Kan., 81 miles; Leroy & Caney Valley-Roper .Disbursemenlsto Per u, K3n., 52 miles; small lines, principally ln Kansas and Mis- lnterest on bonds ............... . $1,875,470 $2,349,407 $2,535,718 souri, 654 miles; total Mls£1ouri Pacific system proper, Jan. 1, 1889, Dividends paid.......... • ....... . 2,531,770 3,008,174 *l,539,120 1,416 miles. Also operates "Branch lines," Including the following- Rate of dividend .. ........ ..... . . 7 *3 -½I 7 The Council Grove Osage City & Ottawa, 70 miles; Topeka Salina & Taxes, r entals, &c ..•...•••..•... 762,265 941,523 653,992 Western, 71 IDlles; Council Grove Smoky Valley & Western, '27 miles; Commissions on bonds .•..... ..•. 250,000 Kansas & Colorado, 126 miles {with branch of 10 miles) ; Denver Mem• Loss on St. L. & San Fran. stock 283,230 phis & Atl., Western Div., 139 miles; and Pueblo & State Line,. 151 miles ;-which form a continuous line from Ottawa, Kan., to Pueblo, Total disbursements........... $5,061,232 $6,119,846 $5,549,591 Col., 540 miles, and have total mileage of 584 miles; Kansas Ft. Scott & Wichita-Ft. Scott to Kiowa, Kan., and branches, 304 miles; Denver, Balance for y ear................. - $294,103 +$1,587,Ul -1,641,554 Memphis & Atlantic Eastern Div., Chetoka to Larned, Kan., 272 miles; ~ h e dividends actually paid in the year 1888 were 514 per cent, but ther lines, 543 m.; total "Branch lineEI," Jan. 1, 1889, 1,703 m.; MJs. the Income account ln the report gives only 3½, as above. R:r;~[~~~·:::. :::::::::::::::::::: $] :~~::i~g https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- ---- .INVESTORS' SUPPLEMENT. MAP OF THE MOBILE & HIO RAILROAD AND ITS CONNECT IONS. z -" I A ~, tt\ i i I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ,R [VOL. L. JANUARY. 1890.] RAILROAD STOCKS AND BONDS. Subscribers -will conf'er a great f'avor by giving ilDlllediate notice oC. any error discovered in these Tables. Bonds-Prtnoi-INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or pa.1, When Dae. Amount of Par Outstanding For explanation of column headings, &c., see note of Rate 'f_f~r When Where Pahable, a.nd by 8tock6-Laet Road. Bonde. Value. on first page of tables. Cen. Payable W om. . Dividend, Morgan's La.cl Tex.-lst M. (N. O. to Morgan City).o• 1st mortga~e, Alex. Extension, gold ..•. ...•...••. llorris d! Ess~tock, 7 p. o. guar. D. L. & W ...••. let mortgage, sinking fund ........................ 2d mortfiage ..•..••••••..••..••..•• ..••..••...•..••. Oon vert ble bonds .••..••...•..••..••. . ••..••..••... Gen. m. & 1st on Boonton Br. &o. (¥::ar. D.L.&W.) Consol. M. (for $25,000,000) gua.r. . L. & W.o*&r Bpeoia.l reA<l estate bonds .••...•....•..••.....•..... l(-a,h:ua d! Lowell-Stock, 9 p. o. ren'l, 92 yrs, B. & M. Bondsnotmort.($100,000areg. 5s, J. &J.,l.900).c NuhfJitle Ohallanooga cl St. Louis-Stock ...••..... 1st mort. (for $6,800,000) .••..•••.••...••..... c*&r 2d mort.. gold or silver .......•...••..••..•••. c*&r Bonds held by U. 8. Government ..•.......•...•••. 1st M.on Fayette. and MoM. l>rs.($6,000 p.m.)c*&r 1st mort. on Lebanon Branch ................... c ... l,st M. on Jasper Br. ($90,000 are 8s, due 1906)c* 1st M. on Centreville Bra.nob, gold ....•.... . c'" &r 1st M. on Tracy City Br. (Tenn. C. & I. RR.) .c*&r 1st M. on Bon Air Br., 10-30s, $20,000 p . m ... c* Consol. M., g . (for $20,000,000J, $20,000 p.m .. c* Duck River RR., 1st M.,$6,000 p. m., assumed.c* 2dm€lrt., assumeel. .......•...........•...•..... o* llfuhfriUe cl lJecat-ur-Stock, gu:ir'd 6 p. c. by L. & N. 1st mort. guar. s. f. ($200,0vO held in stock fund) Nash.Flor.cl Sheff.- lat M.for$2,500,000,g.,guar .. c Bashvilte d! Knoxville-lat mort. for $2,000,000 .. c• lvatchez JMkson cl Oolum.-lst M.$12,500 ~m.,g. c• Naugatuck-St'k,10p.c.ren'l,99yrs.,N.Y. . H.&H. 1st mortgage .......•.......•..•........•...•....... r Buq:uehon Val.-Stock, 5p.c.guar. tilll904,L.C.&N. - - --102 157 132 84 84 1878 $1,000 1880 1,000. 50 i864 500 &c. 1866 500 &c. Var'us 1,000 ·34 1871 1,000 137 1875 1,000 Var'us "'15 652 ·ioo ·ioo •73:;so 340 isfa 1,000 1,000 321 1881 321 187l 5,000 125 1877 1,000 29 1877 1,000 31 '77•'83 1,000 46 1883 1,000 20 1887 1,000 7 1 887 1,000 1,000 650 1888 48 1876 fiOO &c. 48 ll:i81 1,000 122 119 isfo 1:000 91 1887 1,000 18~8 1.000 1882 100 &o 61 100 61 1883 1,000&c 18 .... 50 ioo . --- $5,000,000 A. & 0. N.Y.,S.Pao.Co.23 Broad .April 1, 1918 7 1,477,000 6 g. J. & J. do do July 1, 1920 3½) J. & J. N. Yd.Del.,La.ck&W. Jan. 2, 18SO 15,000,000 5,000,000 M &N. 7 o do Ma.yl, 1914, 2,999,000 F. &.A.. do 7 do .Aug. 1, 1891 281,000 7 J. & J. do d.O Jan. 1, 1900 4,991,000 A. & O. 7 do do Oct., 1901 8,007,000 do J. &D. 7 do June 1, 1915 2,795,000 4.¼&5 do do Various 800,000 4¼ M."&.N. Nashua, Co.'s Office. Nov. I, 1889 300,000 6&5g. F. &.A.. do do 1893 & 1900 6,668,606 Q.-J. New York & Nashville. Jan.10,1890 114 6,300,000 J. & J. N.Y., Continental N.Bk. July 1, 191~ 7 1,000,000 6 J. & J. do do Ja.n. 1, 1901 500,000 4 J. & D. do do June 1, 1891 750,000 6 J. & J. do do Jan. 1, 1917 300,000 6 J. & J. do do Oct. l, 1917 461,000 6 g. ~ 8 J. & J. do do Jan.,1906&28 376,000 6 g. J. & J. do do Ja.n. 1, 1928 600,000 6 J, & J. do do Jan 1892 to'l 7 130,000 do 6 J. & J. do July 1, 1917 1,750,000 do do 5 fl. A. &O. April 1, lij28 106,000 do 6 &. 8 J. & J. do Jan. 1. 1896 34,000 M.&~. do do Nov. 1, 1909 2,170.557 J. & D. Nashville. Deo. 6, 1889 2,100,000 7 J. & J. N. Y., 52 Exch. Place. July 1, 1900 1,920,000 ~ g. F. &A. N. Y ., 52 Exch. Place. .Aug. 1, 1937 900.000 M.&N. N.Y.,Mercantlle Tr. Co. 1918 1,250,000 6 M:. & 8. N. Y., Metro pol. Tr. Co. Sept. 1, 1912 2,000,000 J. & J. New Haven, Ct., Treas. Jan., 1890 5 150,000 4 J. &D. do do June 1, 1913 2½) M. & 8. Phila., 226 South 3d St. Sept. 1, 1889 1,412,500 gg. BT. Loms IRON MOUNTAIN & SOUTHERN.-St. Louis to Texarkana,! Disbursements1885·86. 1836·87. 1837-88. 1388-89. Texas Line, 490 miles; branch lines, MineraJ Point, .Mo., to Potosi, Mo., I Int. on mort. bonds .. $481,60v $480,800 $180,000 $4,80,000 • miles; Bismarck, Mo., to Belmont, Mo., 120 miles; Poplar Bluff, Mo., · Inter est on car trasts 15.426 40,408 40,285 ·ss·,636 to Bird's Point, Mo. (Cairo), 71 miles; Gurdon . .Ark., to Camden, .Ark., Rent to St. L. & C .••• 128,863 165,000 165,000 34 miles; Knob Al to Helena, 140 mi!.cs; Newport to Cushman. 40· Miscellaneous .....••. 11,303 19,510 183,483 m.; Neelyville to Doniphan, 20 m .; Allenville to Jackson, 16 m.; Arkan, '9as Val:ey Div. (formerly L. Rook. Miss. R. &Te xas). 113 m.; Warren Br. Total disbursem'ts $520,236 $636,393 $704,918 $868,768 49 m.; Bald Knob to Memphis, Tenn., !?3 m .: total, Dec. 31, '88, 1,llJO m · Balance, surplus..... $27,490 $1,320 $5,474 $66,013 There w e rt yet out Dec. 31, 1888, $345,455 of old income bonds of the several t~Eues. The l\frrcantile Trust Co .. of New York, is trustee of the -(V. 47, p. 83, 188, 562; V. 48, p. 372,462; V. 49, p. 113,680,825; v. 50, p. 107.) general consol. mortgage for $15,000.000. The stock ($ 25,731,025) is nearly all held in the treasury of the Missouri PacJ.11.c Railway Co., Monterey & Mexican Gulf.-(See .l:fap.J-Road projected from having been retired in May, 1881, by the issue of three shares of Mo. M(!nterey to Tampi co, Mexico, 380 miles; a. iso from Monterey t Ven• Pacilio stock for four of St. Louis & Iron Mountain. The sales of land in ad.ito, Mex., 100 miles. Grading and track-laying in ra i,id pro~r ss and .Arkansas on which the Cairo & Fulton oonds have a lien are given in 91 mile3 now in operation from Monterey to Lina.res. The Centhe report for 1888 as 100,092 acres at $2 -33 per acre. Land~ in tral Trost Co. of New York ii! t"ustee of the mortgage. Sinking fund Arkansas unsold Dec. 31, 1888, 759,075 acres; in Missouri, 101,333 after November 1, 1898, but bonds cannot be drawn. Geu. Trevino. acres; of Lit -le Rock & Fort Smith RR .. 5 59,103 acres. President. MPxico; T. 8. Bullot k , Vice President, 40 W doll Street, The Little Rock & Fort Smith road was absorbed by an exchange of New York. (V. 48, p. 764; v. 49, p. 300,540; v. _50, p. 71.) Its stock in 1887 (4 shares for 3 of St. L. & I. M.) . See title or that com• pany in SUPPLEMENT of May, 1888, and previously. On Dec. 31, 1888, Montgomery & -EuCaula.-Montgomery to Eufaula, .A.la. 86 tbe L. R. & Ft. Smith had outstanding $447,247 coupon notes. miles. 'i'he road was foreclosed May 1, 1879, bought by W. M. Wadley, The st.-L. & I. M. report for 18.:- 8 w .. , published in the CHRONICLE and the present companv organized. Operated under contra.ct by V. 48, p. 366, and the imome :; ccount was as follows: Cent. RR. of Georgia, and 1nterest paid by the rental. Stock is $620,000. INCOME .A.CCOUNT. all owned by Central Railroad of Georgia. In year endine: June 30. 1887. 1888. Receipts1886. 1888, gross earnings, $316,845; net, $135,234; surplus over interest, Gross earninµ:s ..•••..••......•..••. $7,311.612 $8,331,822 $8,084,646 $45,23-l. Net earn,ngs ..•..••..••..•••.••.•••. $3,443,281 $3,483,392 $2,994,614 l 18.fl02 60,239 Other receipts....................... 159,800 Morgan's Louisiana & Texas Railroad & Steamship oo.Total net income .••..••.•••••••. $3,603,(}81 $3,t;Ol,o94 $3,054,853 (See .Map of So. Pac. Oo.J-The road owned is from New Orleans to CheDisburttmentsneyville, 204 miles; branches, 55 m.; Cheneyville to .Alexandria (under lnterest on bonds .••..••....•...•.•. $2,214, 131 $2,358,397 $2,407,300 track agreement), 24 m.; total, 283 miles. In Feb., 1883, the stock wae Taxes, bridge exp., dividends, &o.. 350,144 l,r 92.052 ~ 409,003 sold to the South. Pa.o. parties, and the South. Pac. Comp.a ny held <Doo. 31, Total disbursements .••..••..••. $2,564,275 $4,050,449 $2,816,303 1887> $4,062,700 out of the whole stock of $5,000,000; par, $100. This Balance for year .....•• . ...••.... . +$1,038,806 -$44>- ,555 +$238,1150 compa.!"\y'11 property consisted of 1 7 iron steamships plying between New -(V. 47, p . 327,453,499,708,776; V. 48, p. 189,365,369, 80u; V. 49, York and New Orleans and between Gulf ports, also wharves, ware• houses, and terminal facilities, besides the cap•tal stock of rail.road and p. 342, 540, 690. 789, 825. l mobile & Bll'mingham.-(See Map East. Tenn. Va. d Ga.)- other companies, including a maJorityinterestm the capital stock of the Mobile to Marion June .. .A.la., on the East Tenn. Va. & Ga. road, about Houston & Texas Central Railway Co., &o. There are also $251,· 147 miles. opened in JulJ, 1888. .Abstract of mortgage V. 45, p. 274 . 716· 5 p .c. New Orleans Opelousas .& G. W. bonds due 1899, a.ssumed E. T. Va. & Ua. owns a majority or tbe stock and guarantees principal by this company. In 1888 gross earnings were $5,226,101; net.$1,718.· and interest of bonds. Stock, $j,OOO,OOO (pa~ $H•0), and bills pa.J able 678. Dividends paid not stated. From Jan. 1 to Nov. 30, 1889 (11 .Aug. 23, 1888, $627.500. In year ending June 30, 1889, gross earn• mos.), gross earnings were $4,797,570, against $4,644,683 in 1888; ings, $172,360; net, $8,84.0; interest, $145,390; defl.c1t, $136,550. net, $1,441,240, against $1,476,975. -( v. 46, p. 320, 678; v. 47, p. 3 3, 4 42 .) ' l'tI6rrls & Essex.-(See M ".P of Del. L. cl W.J-9wns from :,;Ioboken, N • .Ltioblle & Dauphin Island KR. & Harbor Co.-·Projected from Mobile to Dauphin Island, Ala., 36 miles. Stock authorized $3,- J., to P.llillipsburg, N. J., 85 miles; branch, Denville, N. J., via Morris & Essex Tunnel, to Hoboken, N. J., 34 m.; leases Dover to Chester, 10 m.· 000,000; outstanding $90,000. Robert Sewell, N. Y., President. 1Uobile & Glrard.-Owns from Columbus, Ga., to Troy, .A.la., 85 Newark & Bloom. RR., 4 m.; total operated, 132miles. In 1868 this roa.ti miles. Common stock, $1,137,121; preferred stock, $137,608, and was leased in perpetuity to the Del. Lack. & W. RR. The lessees assume $2,630 Pike Co. stock; par, $100. From June 1, 1886, road was leased all liabilities of the Mor. & Essex RR. and pay 7 per cent per annum on to the Cent ral of Georgia. (which owns $598,751 stock) for 99 years at a the capital stock, and they also agree to pay- 8 per cent in case the guaranteed dividend of llt per cent p er annum on $670,456 stock. Morris & Essex earns 10 per cent on its stock many one year after the Of the 1onds lf200,000 are 6s and $800,000 4s. In 1887·88 gross year 1874. The Morris & Essex is important to the Delaware Lackawanna & Western as a route with terminal facilities on New York Har~arningB $224,093; net. $96,606. ltloblle & Ohlo.-(See Map.)-Owns from Mobile, Ala., to (;olumbus bor, but the actual earnings on the road show a large annual deficit for the lessee company after the payment of rental. The loss to lessee waa Ky., 472 miles, and extension lby Ken. & Tenn. RR.) to Cairo, 21 m; leases St. L. & C. RR., Cairo to St. Louis, 152 miles. and trac,k to Mill- m '80. $1,012,416; in '81. $985,890; in '82. $941.550; in '83, $1,104,218 ln '84 about $1,100,000: in '85 and '86 a.bout $900,000. In 1888 stadt 9 miles; Owns branches-Artesia, Miss. to Columbus, Miss., 14 m.; Artesia, Miss., to Btarkvllie, Miss., 11 miles; Muldon, Miss., to Aberdeen, gross earnings of this road and the Warren and P a ss. & Del. railroads (a total mileage of 167 miles) were $5,551,982; net, $l,8j8,373; detl.oit Miss., 9 miles; total owned, 527 miles; total operated, 688 miles. In Dec.. 1885, tbe lease of the St. Louis & Cairo RR. 1161 miles) was ta.ken to the D. L. & W. under rental~, $1,071,870. tor 45 . e ars at a rental guaranteed to amollllt to $165,000 per year. Na•hua & Lo-well.-Owns from Lowell, Mass., to Nashua, N. H The stock is $10,000,000. Lands June 30, 1889, were 822,b59 acres, 15 miles. On Oct. 1, 1880, a lease for 99 years to the Boston & Lowell valued at $415,891. In May, 1888, the new 4 per cent mortgage for $10.500,000, (trustee wa~ made. ln 1837 lease was transferred to Boston & M aine RR. Co. Farmers' L. & Trust Co.) was issued to retire tbe old sinking fund which pays a rental of $7 J,000 (9 per cent on stock). The funded debt ol debentures, etc. Until after Sept. 1, 1891, interest on tbe l.londs may $300,000, principal and interest, is assumed by tht1 lessee, a.Till the lessor be paid in s01ip, fm:;dal.Jle into 1.Jonns of same issue, and the March, holds the lessee's no tes for the same amount-$300,000. (V. 45, p. 143.) 1889, c ou pons WHe rn paid; the Sept., 18 9. coupon was paid half ca><h Nashville Obattanooga & St. Louis.-(See Map of Louismlletl and balf scrjp. There can Le no foreclosu re under this mortgage till four coupons are in default. The sinking fund depends on laiid sales. 1Vashv.)-Owns from Chattanooga Tenn., to Hickman, Ky., 320 miles; branclles-War trace, Tenn., to Shelbyville, Tenn., 8 m.; JaspPr Br., to After 1 etirt!ment of all the debentures. tht re was rei,erved $3,513,000 of the 4 per O<'nts for the future uQe of tbe comp any. On June 30, 1889, r.nma.n and Dutilap, 4 3 m.; Nashv. to Lebanon, 30 m.; McMinnville Br., 61 f!l,; Fayetteville and HuntsvtµeBr. , 66m.: Centrev ille Br., 46m.; there remained outEltanding $734,500 d eb entureR, for which en ou~h of general mortgage bonds (iucluded in" !!mount outstanding" above) was 'l'racy C1t v Bra nch, 20 m.; Duc k Ri ver RR., 4 8m.; Bon Air Br, 7 m.; West Nas hville Br., 3 miles; total operated June 30, 1889, 652 miles. reserved. See ruortgage abstract, V. 4 7, l). 83. A. m ajol'it .v of the stock ($3,38 5,000) is owned by the Louisville & From July 1 to Dec. a1, 1 88~, ( fl months) gross revenue was $1,578,RR. Company and pledged among the collaterals for the Na sh ville C96, aga nst $1,405.424; net $ 3o4,9 Ha. ag a inst $161,714; surplus trust loa n of t h at como an y . over tl xed ch a rges, b etterments, etc., $ 104,218, against $ 14,601. Of t he c on solidated mortgage of 1888 (United States Trust Company Fiscal y ear ends Jun e 30; the preliminary report for 1888·89 was in t rustee), ,in0, 807,000 b on d s w er e r eserved to r etire all prior b onds: V. 49, p. -1 13, and the later repor t in V. 4 ~, p. 680. Fro~ Jnly 1, 188 ~, to Dec. gl, 1~89, (6 months), ':rnss earnings INCOME .A.CCOUNT. 1885·86. 188 b· 87. 1887-88. 1888·89. were 1!11 .840,82 4, a gam st ~l,63 a ,264 m 1887-8; n et, $708,6! -t , a.1ta.inst $6i:- 2,3 27; tmr olus over mterest, t axes and Improvements, $278 034. 527 663 Miles operated •••.... 687 687 against $212.597. ' ' Recei'P{sDivide nd s si nce 1876 h ave been: In 1877, 1¼ per cent; in 1978, 2¼; Gross earnings ...... $1,962,328 $2,431,381 $2,629,536 $2,881,4 74 in 1879, 3. in 1880, 2 ; in 1 881, 3; in 1882, 1½; in 188 3 and 1 884, 2· in Neli earnings......... $506,744 $637,713 $710,392 $934,781 18 85, nil; in 1886, 1; in 1887, 4; in 1888, 414; in l-889, 5; Jan.'10, Other receipts........ 40,982 1890, 114. $637,713 Total net......... $547,7~6 $710,392 $934,781 Fiscal year ends June 30. The' report for 1888-9 was in v. 4.9, p. 371 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- 96 INVESTORS, SUPPLEMENT. i I / i Tinaja 0 Sien,·~ojada \ \c~os \ Zavalea 1, ·-----...... oCuervo ~ 0? S.Antonio \ \ \ Nadadore ~ .---- --- ---- -----~ ·-.J Oien~ 1 ,0 MONCLO 0 \ \ o Zarca .::, 0 Delicias ; 0 i ~ Tapias o Juan Perez 0 .I (,,.,,,.-· MONTEREY .i AND CHUCA( MEXICAN GULF 1t\9, ,/ RAILROAD https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis "T <c, l- Cuernavaci -.~,m~p ,/ •I \:~ . ' j .RAILROAD STOCKS AND .fA.NUA.RY, 1890,] BONDS. 97 Subseriberll will confer a great favor by giving hnmediate notice ot any erl.'0r discovered In these Tables. Honas-PrtnctINTEREST OR DIVIDENDS • .1lB8CRIPTION. Miles Date Size, or When due. A.mou.11t Rate per When Where rayabie, and by pal, of Par Outstanding For explanation of column headings, &c., see notes of Stocks-Last Road. Bonds Value. Cent. ?ayaole Whom. -on flrRt page of tables. Dividend. --- Ne,,ada Oentrat--lst M.,g., income (sinking fund) .. Newark 4 H'Ud.Bon-lst m0rtgage ........•....•...• . c Newark Somerset 4 Straitsv.-lst mort., ext. in '89 Newburg Dutchess <I Oonnecticut-Income bonds .. r New Oastle <I Beaver Valley-Stock . ................._ New Hav. <I Derby-Consol. M., for $800,000,guar .c* 2d mortgage, guara.nteed .•••....•••..•.......••. c" aFunded coupon certlftcatea .••..••...••..•...•...• . N.Hav.<INorthamp -St'k,guar.99yrs.N.Y.N.H.&H. }:;lf%W~~~eci:1si&.2di.i::;t~iio<>,ooo·gu.>:~: <Jonsc l. sink. fund $15,000 lier yr. not drawn .. c .. ::Northern Extension .••..••...•..••..••..••...•... c• 'Bonds convertible inti> stock ...•••.••...•....... c• NewJerseyJunction-lstM., guar. byN.Y.Cent.o&r New Jersey 4 New York-lat M. (reorganization).c* 2d mortgage ....•.•..••..••..•••.••....••••..•..••. r 11, ew London Northern-Stock .••••••••••••••. .•••... 2d mortgage ..•...•..••...•..••..••..••..••..••.. c * 'Consol. mortgaf:' ($300,000 are 4a) ....••.••.••. c * Nev,,port News 4 ississippi Valley-Srock ...•...••. NetJJ Orleans <I Gulf-lat coneol. mort., gold .•••.. c • New Orleans <1-Northeaste1·n-Prior lien mort.... c* N~Y~ffri!?f;!~·iia°,;.Beae;,;.:.N.Y.&.iCii."iat·M::c• N. Y.B.&M.B., lat consol. .M., gold, E,1;ar. by L.I.. c* 94 6 44 0 15 13 13 147 92 17 "'"ii ···5 39 i'"ii 100 121 0 68 196 11}6 14 All. Y. <f Oanada--lat M., ater., guar. .& H. Can .. o"' 150 New York Oentral <I Htt,dson River-Stock .••....... 1,421 I{. Debt certificates (N. Y. Central) ext.10 y'ra, '83 . . N. Y. C. & H., $30,000,000 } coupon or reg. { mortiraie __ . £2,000,000 Oebenture onaa (to be incl. in any new mort.). c&r l 840 840 ··-- U!88 1871 1869 1877 isiis 1870 1888 1869 1870 1879 1881 1886 1886 1880 ·--· is12 1880 isss 1885 $1,000 1,000 500 &c. 00 50 1,000 500 &c. "ioo 1,000 1,000 1,000 1,000 1,000 1,000 500&0. ·ioo 500 &o. 1,000 100 1,000 1,000 1881 1877 50<>°&c, 1,000. 1885 1874 £100&c 100 i853 500 &c. 1,000 1873 1,000 1873 1884•9 1,000&c 1888·89. $ Earnings$ $ $ 834,823 809,627 Passenger................. 601,820 725,961 Freight ........ ..•. ...••.. 1,429,468 1,894.715 2,102,956 2,277,119 153,874 213,418 Mail, express, rents, &o.. 153,821 153,572 1886·87. 1887-88. Totalgroaaearninga .••. 2,188,109 2,774,248 3,091,653 3,300,165 rotaloperating expenses. 1,322,858 1,578,611 1,770,249 1,951,444 Net earnings .•••••••.. 865,251 1,195,637 1.321,404 1,348,721 INCOME ACCOUNT. Net ReceiptsNet earnings .•••.••...••• Htacellaneous receipts ..• Total income .••..•••• DiabursementsInterest on debt & taxes. Dividends ......••..••••••. IRate per cent ....•.•.••••• Improvements .•••.••..••• 1885-86. 1886-87. 1887-88. 1888·89. $ $ $ $ 865,251 1,195,637 1,321,404 1,34.8,721 13,445 865,251 1,209,082 1,321,404 1 348 721 ' '$ $ $ $ 709,834 760,83'1 675,096 ~~i•:~~ 266,741 266,741 4 4 5 145,015 _ _ 60_ ,903 _ Total disbursements. 720,317 1,096,055 1,172,590 1,264,025 Balance, surplus.......... 144,934 113,027 148,814 84,696 -(V. 47, p. 81,227, 352,353,473, 594, 775; v. 48, p. 527,662,764, ~99; v. 49, p. 83, 206, 341, 371, 471, 503, 690, 793; v. 50, p. 107.) Na•hvllle & Decatur.-(See Map Louisville <I Nashville.)-Owns from Nashvllie, Tenn., tu Decatur, Ala., 119 miles. The road was leased .May 4, 1871, to the Louiav. & :Nashv. RR. for 30 years from .Jllly 1, 1872, at a rental of 6 per cent per annum on the stock. The !essee assumed all the debt of the Nashville & Decatur Co. and owns $841,300 or its stock. In 1887-88 gross earnings, $1,294,800; net. $473,450; surplus over interest and dlvjdends, $182,123. In year -ending June 30, 1889, gross earnings were $1,295,379; net, $435,476. Na•hvllle Florence & Sheffield.-( See Map Loii. ~ Nash.) -Owns from Columbia, Tenn., to Florence, Ala., 79 miles, w:ith branch Iron <Jity, Tenn., to Pinckney, Tenn., 12 miles, and has trackage, Florence to Sheffield (Mero. & Char. RR.), 6 miles; total 97 miles. Operated by Louisville & Nasbville, which company guarantees the principal and interest of the bonds by endorsement, and owns $615,0uO of the $708,. 585 stock, par $100. President, .M. H. Smith, Louisville, Ky. Nashville & Knoxville.-Owns from Lebanon to Gordonsville. 80 miles in operetion; and under construction to Glen Alice on Cin. So, RR. Stock is $500,000. Trustee of mortga~e. .Mercantile Trust Co, of New York, A.. L. Crawford, New Castle. Penn. Natchez .Tack•on & Colum.bus.-0wns Natchez, Miss., to Jackson, Miss., 100 miles, maqe standard guage in 1889. Stock, $2,028,850; , par $50. The above new 6 per cent mortgage at $12,500 pPr mile will r etire all prior liens and provide for future requirements. In 1889 the --control or the stock was sold to New York parties interested in the ,Loulav. N. 0. & Texa11. Earn'ga for 1888, gross, :fll63,878; net, ~4,416. Ntw York Office, 52 William Street. (V. 48, p. 854.) Nauar;atuck.-Owns from Naugatuck Junction to Winsted, Conn., 66½1 miles; leased, Watertown & Waterbury RR •• 4½1 miles; total operated, 61 mllee. Leaaed for 99 years from April 1, 1887, r.o N .Y. N. H. & H. at ~206,000 -per year. In year ending Sept. 30.'87, ~rosa earns. were $725,828; net, $246,664. In 1885-86, gross, $70-1,336; net, $221,522. Nesquehoning Valley.-0wns from Nesquehoning Juncci.on, Pa., rto Tamenend, Pa., 17 miles; Tunnel Branch, Hauto, Pa., to Lansford, Pa., 1 mile; total operated, 18 lllilea. Leased for 999 y-0ara to the Lehigh Coal & Navigation Co. In Sept., 1884, the lease was modified so as to pay 5 per e.ent a year only, and the option to purchase the stock at par and interest was suspended for 20 years, with a guarantee of 5 per <ient per annum on stock. Nevada Central.-Ba.ttle Mountain to Austin, 94 miles. Stock, . $750,000. Road sold in foreclosure June 21, 1887. Reorganization . completed. Above bonds were issued in exchange for $760,000 old lsts. Gross earnings in 1888, $42,145; net over operating expenses, ·$2,550. (V. 46, p. 672, 7 43,) · Ne-wark & Hudson.-0wna from "Here-en Junction t,o Newark N. J., 6 miles. Leased to New York Li.,_.,_e .N'Ie & Western at a rent;J of $17,500 per annum, which pays interest on bonds. In 1887 gross ·$72,238; net, $13,850. Cortlandt Parker, President, Newark, N. J. Ne-wark Sonterset & Straitsvllle.-0wna from Newark, O., to Shawnee, 0., 44 miles. Road was completed in 1871. Leased to Baltt• more & Ohio (m perpetuity at B. & O.'a option), which Co. pays 30 per cent of gross earnings, and guarantees minimum rental or $56,000 , (interest on debt), but for any advance to pay this minimum B. & O. is entitled to reimbursement from the receipts of any subsequent year. ~tock, common, $796,4.00, and preferred, $218,200 (par ooth, $50), . $705,550 o.r the first and $191,850 ot the latter, being owned by Bat. , & O. In lo88-S9 gross earnings· were $2i6,150; net, $37,155; loss to lessee, $37,762. In 1887-88 · gross earnings were -$241,4.61; net, $13,101; loss to lessee, $65,380. In 1886-8ti, gross, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 119,480 5 g. 7 5 g. 6 2¼ 5 7 6 50c. 7 6&7 6 5 5 4 6 5 1~ 7 4&5 ••6.g. 6 g. 6 7 5 g. 6 g. No coupons paid. J. & J. .M. & 8. N.Y.LE.&W.RR. M.&N. N. Y., Union Trust Co. When earned. Q:.:.:.r. N ewcaatle, Penn. M:.&N. N.Y., Houa.RR.&B·~•pt F . &A.. Bridgepo;rt, C t., Office. Sept. 1, 1901 Nov. 1. 1929 June 1, 1977 Ja-n. 1, 1890 May 1, 1918 Feb. l, 1900 Feb. l, 1900 A. ·&·o. New Haven. Oct, 1889 J. & J. do do Jan., 1899 A.. & o. N.Hav.,N.~adesm's Bk A.pr.1 '91 & '98 A.. & o. do do A.pril, 1, 1909 A.. & 0. do do A.Jy~1, 1911 J. & J. do do J 1898 F. &A. N. Y1 Cent. & Hud. Riv. Feb. 1, 1988 M.&N. N.Y., Mercantile Tr. Co. May 1, 1910 J. & J. do do Jan. 1, 1988 Q.-J. ' New London, Office. Jan. 2, 1890 J. &D. N. Y., B'kof N. America July, 1892 do do J. & J. July, 1910 M.·&·N. A. &O. J. & J. J. & J. A. &O. M.&N. Q.-J. 112 5 .M. & N. J. & J. 7 g. J. & ,T. .M. & 8. g J1...ly 2, 1938 Ma.y,'89,la.st CO\lp.paid. Nov.·i:··1924 N. Y., Cen.tral Trust Co. Nov. 1, 1915 Jan., 1911 N.Y.Corbln BankiD.gCo. Jan. 1. 1897 do do Oct. 1, 1935 London, Barinf Bros. .May 1, 1904. N.Y.,Gr.Centra Depot. Jan.15,1890 do do .May 1, 1893 do do Jan. 1, 1903 London, Union Bank. Jan. 1, 1903 N.Y., Gr. Centr'l Depot. Sept. 1, 19°' $214,291: net. $35,208. In 1886-87, gross, $183,010; net, $2,575. (V. EARNINGS AND EXPENSES. 1885-86. $750,000 250,000 800,000 1,1G4,500 700,000 575,000 225,000 400,000 2,460,000 1,300,000 260,000 1,200,000 700,000 700,000 1,700,000 400,000 100.000 1,500,000 387,500 1,112,000 13,761,800 1,000,000 1,000,000 5,000,000 500,000 845,000 4,000,000 89,428,300 6,450,000 30,000,000 9,733,333 11,000,000 l 49Ne-wburg , p. 616 ·> Dutchess & Connectlcut.-OwnsfromDutoheaaJuno. 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 plll'chasing bondholders. In adct.ition to above incomes, there are $150,000 1st mort. 7a, due in 1907. In y ear end. Sept. 30, 1887, gross earn. were $144,726: net, $19,657; surplus oyer interest, $8,259. In 1887-88, gross, $175,138; net, $24,877; surplus over fixed oharz:es, $13,477. The common stock is $500,000 and preferred stoGk $587,450; par $50. John 8. Schultze, President, .Matteawan, N. Y. (V. 47, p. 626.) New Castle & Beaver Valley.-0wna from Homewood, Pa., to New Castle, Pa., 15 miles. Leased to Pittab. Ft. W. & Chic. RR. for 99 years at a rental of 40 per cent of gross earnin&"B, and lease assumed by Pennsylvania Company. There is no debt, ana a cash surplus January, 1889, of about $130,000. In 1879, 13 per cent dividends were paid; in 1880, 13 p. c.; in 1881, 24 p. c.; in 1882, 14 p. c.; in 1883, 29 p. c; in 1884, 19 p. c.; in 1885, H) p. c.; in 1886 and 1887, 6 p. o. each; in 1888, 10 p . c.; in 1899, 10 p. c. Gross earnings in 1887, $258,003; rental received, $103,~0l. Gross in '88, $237,537; net, $113,115. (V. 46, p. 699.) Ne-w Haven & Derby.-Owna from New Haven, Conn., to Ansonia. Coun., 13 miles, and ex tension to the Houaatonic RR. at Hlllltington, 4 miles. Leased to the Housatonic for 99 years trom July 9, 1889, the r ental being guaranty ot principal and interest of bonds and funded . coupon certificates, and 2 per cent on stock till after J11ly, 1892, then 3 per cent till after July, 1895, and 4 per cent thereafter. Di vidends are paid directly to stockholders in semi-annual instalments Jan. 10 and July 10. 8tock is $470,000; par $100. In 1888-89, ~rosa earnings were $191,728; net, $94,513; surplus over interest and taxes, $5,213. -(V. 48, p. 828; V49,. p. 52, 857.) New Haven & Northampton.-Operated from New Haven, Conn., to Conway Junction, .Maas., 95 miles; branches-Northampton to Williamsburg, 7 miles; ..t.< armrn~ on Conn., ·to New Hartford,Conn., 14. miles; South Deerfield to Turner's Falls, 10 miles; to Tari.lfville, Conn.. 1 mile; leases-Holyoke & Westfield RR .• 10 miles·: total, 137 mile&. In June, 1887, the road was leased for 99 years to the N. Y. N. H. & H. at 1 per cent on stock till 1890; then 2 till ,1893; then 3 till Ap~ 1896, and 4 afterward. In 1886-7, gro88 income, $825,232; net, $121,982; deficit under interest, $115,974. (V. 45, p. 13.) Ne-w .Terwey .Tunctlon.-Terminal road through .Terliey City, Hoboken and Weehawken, oonnectlng the trunk lines terminating at thoee points; length about 5 miles. Leased for 100 years trom June 30, '86, to the N. Y. Central & H. R. RR. Co., which company guarantees the bonds absolutely and owns the stock ($100,000) of the company. The mortgage ta for $4,000,000. New .Tersey & New York.-Owns trom Erle Junotton, N. J., to Haverstraw, N. Y., 34 miles; Nanuet to New City, 5 miles; operates Garnervtlle RR., 1 mile; rotal operated, 40 miles. The D!'88ent company was formed on reorganizatJ.on after foreclosure in- April, 1880. 8tock ·outatanding, $1,440,800 common; $787,800 preferred; par $100, Control of road ts with preferred stock and first mort~9,ge bonds tlll 6 per cent dividends have been paid on preferred srook for three years. '1rosa earnings in 18_8 8, $230,882; expenses, $166,750; net earniDgi, $64,131; def. mtder mterest, $11,984. v. L. Lary, Pres't. New London Northern.-0wna from New London, Conn., to Brattleboro, Vt., 121 miles. Since Dec. 1, 1871, leased to the Central Vermont; but earnings on 100 miles, New London to .Miller's Falls, are reported separately as below; the lease was for 20 years at $150,000 oer year, and $15,000 for each additional $100,000 of earnings over !11510,000 per year. Dividends since 1876 have been: In 1877, ti~ pel! cent; from 1878 to 1886, inclusive, 6; in 1887, 6½; in 1888 and 1889, 7; in 1890, Jan. 2, 1~. In year ending Sept. 30, 1889, gro&a earnings were $607,664; net, $199,347, against $194,067 in 1887-8. In 1888-89 company received r ental, &c., $241,S87; paid interest, $86,109; dividend (7 per cent), $105,000; improvements, etc .. $73,672. New Orleans & Gul.C.-Road 1rom New Orleans south along the .Mississippi River to Bohemia., with a branch, making 6819 miles in all. Default was made on coupon due Nov. 1, 1889. Capital stock authorized, $300,000; issued, $241,300. In vear ending Jan. 31, 1889, eross earnings were $166,596; net, $2,032;' deficit under interest, $53;217• -(V. 49, p. 680.) New Orleans & Northeastern.-(See Map Oin. N. 0. 4 T. P.JLine of road from New Orleans, La., to Meridian, .Miss., 196 miles. Stock is $5,000,000. This road belongs to the so-called "Erlan.!:\'er System," and $4,320,000 of the stock and $4,900,000 of the $5,000,000 first mortgage bonds are held by the A.la. N. O. & Texas Pacib.c Junction Co. There are also <'ar trusts, payable at Farmers' Loan & Trust Uo. From July 1 to Nov. 30, 1889, (fl months) gross earnings were $ 453,752, against $382,684 in USS; net, $122,000, against $67,000. In. 1888 gross earnings w ere $900,340; net, $157,738; detl.cit under all charges in 1838, $190,505, against $2i5,214 in 1887. (See title ot Alabama New Orleans & Texas Pacific Junction.) Newport News & Miss. Valley.-This company was formed under the laws of Connecticut to lease and operate all the Huntington lines between Newport News, Va., and Memphis, Tenn. On .Tan. 1., 1~89, the company owned $5,708,700 Chea. Ohio & Southweate~n common, and $3,511,600 preferred stock, $1,055,500 Elizabethtown Lexington & Big Sandy RR. srook, $3,000,000 Ches. & Ohio common, $427 .un. . pref. and $143,172 2d pre!. srock, and $1;590,800 Ches. & Ohio bond& 98 ~ INVESTORS' 6ffPPLEMENT. Sobacrlben will cower a great f'avor by giving Immediate notice ot: any error discovered In these Table■• &mds-Princl• INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or pal,When Due. Amount of Par Outstanding For explanation of column headings, &c., see notes of Rate r,er When Where P~able, and by Stock'1-Last on first page of tables. Road . Bonds Value. Cen . Payable om. Dividend. JT.Y.Ohic.d St.Louis- lat mort., g .• s . f., not d'rn .o* N, Y. d Greenwood Lake.- lat & 2d M., income ... . lf,Y.dHarlem-Com. and pref.stock,8p. c.N. Y. C .. Consol. mort., coup. or reg .••..... . .•..•....•.... c* N. Y. Lackawanna d Western.-Stock, guar., 5 p.ct. 1st mortgage ..•..••......••..••.......••..••..•.. c* 2d mort., gua.r. by Del. Lack. & West . .•..•••.••. c* N. Y. Lake .Erie d West.-Stook, coWIUon .••....•••. Preferred stock, not cumulative . ...•.. , ••...•..... N. Y. & E., 1st m., Piermont to Dunkirk,N.Y.,ext. do 2d mortgage, gold (extended in 1879). do 3d m., gold (ext. 40 years at 4-½1 p. ct.) do 4th m., gold, (ext. in 1880 at 5 p. et.). do 5th mort., ext. in 1888 at 4 p. c., gold . Erie R'y, 1st m., Bu1falo Br., Hornell.av. to Attica l..o.ug Dock Co., 1st mortgage .•....•..••.......... c ilo Con.M., g .,($7,500,000) red. at 110.c .. ETle R'y lat consolldated mort., gold,$ & £ . .•. c* N. Y, Lake Erie & West. funded coupon bonds .... do 1st lien M.,s f ,not drn. ,bondb, g _c· do do 2d con. & fund. cp. bds ..•.....•.. c" do do income bonds (uon-cum.) ....•...•. do do do fd. cp. bdsgold (red.105 & int.) .. c* Oollateral Trust bonds, gold, s. f. drawn at 110_0* Car trust bonds, ser. C to G, incl., p ar t pd. ann .. c• N. Y. Car., trust, '88, series A, (guar. b y D. & H .) Newburg & N. Y., 1st mort., ext'<t in 1889 ....•. c* N. Y. ti .Massachusetts-1st mort. (for $2,750,000) .. l(, Y. d N. England-Stock ($20,000,000 auth'rized) Preferred stock, 7 per cent cumulative .••..••.... . lat mortgage ($6,000,000 are 7s) .......•...•... c" 2d M., part scaled ($4,002,000 a.re 6s) . .•..••. c&r Boston Terminal lat M:........ ......... ........ . c'" 513 40 151 132 214 200 200 1,632 1,632 4 46 446 446 465 465 60 ·--- 526 520 534 ---· ------· . --· ·- 1887 1878 i872 isso 1883 .... isi1 1879 1853 1857 1858 1861 1863 1885 1870 1878 1878 1878 1878 1885 1882 ---- isss 1868 113 188:i 488 . --· ·12 s2i is16 321 ·-·- 1882 1889 $1,000 100 &c. 50 1,000 100 1,000 1,000 100 100 1,000 1,000 1,000 1,000 500 &c. 100 &c. 1,000 1,000 1,000 500 &c. 1,000 500 &c. 300 &c. 1,000 1,000 1.000 1,000 1.000 1,00 ,) 100 100 1,000 1,000 ..... of 1918. Company leases the :fl.rat two of these roa<l s, aggregating 53 t miles, the former for 50 years and the latter for 250 yea.rs, agreeing to pay fixed charges so far as net earnings sutttce, any surplus up to 6 per.cent to bEI divided to lessor companies, and the excess retaiuert by the lessee. Offices of Co., No. 23 Broad st. and New Haven, Conn. -(V. 45, p. 211; V. 48, p. 589.) New York Brooklyn & Manhattan Beach.-From Fr.esh Pond Junction to Manhattan Beach, and branches to Bay Ridge and Greenpoint, 20 miles. This was a consolidation .A.ug. 27, 1 ~85. J,eased for 99 years from May 1, 1882, to the Long lsland RR. Co. at 35 per cent of gross earnings, but the ren tal guaranteed to be at least $f15,IJ80 in each year; 1st consol. bonds are endori!ed by L. I. RR. on upplicat1on. Stock ls $350,000 com. and $651),000 non-cuwulative pref. (pat· $LOO) . and 5 per cent 11 er annum is paid on the latter sewi-annually A. & 0. by L. I. RR. Oo. lll year endin~ Sept. 30, '!:l8, rental was ljil03,250; deficit under interest and dividend$ L,125, (V . 46, p. 3 53,) !iew York & Canada.-Owns frolll Whitehall, N. Y., to Rouse's Polnt, N. Y., 113 miles; branches: Ticonderoga, N. Y., to Baldwin, )T. Y., 4 miles; Plattsburg, N. Y., to Ausable, N. Y., 20 miles; West Chazy to Province line, 13 miles; total operated, 150 miles. Leased in perpetuity and virtually owned by the Delaware & Hudson Canal Company, which _g~arantees the bonds, and h as $3,901,622 invested iu it. The stock is $4,000,000; pa.r $100 . . In 1888-9 gross earnings were $930,299: net. $352,'211; surpl~ over interest and rentals, $93,728. (V. 4\},p. 174, 617, 8:2.6.) New York Central & Hudl!lon.-LINE 011' o.Al>.'-Owns from New York City to Butfa,lo, N. Y., 442 mile11; branches on New York Oentrn.l division, 290 miles; t9tal owned, 732 miles ; lines leasedWest Shore RR., 426 miles, abd branch es, 22 miles; Troy & Greenbush, 6 miles; Niagara Bridge & Canandaigua, 88 miles; Spuyten Duyvil & Port Mon-is, 6 1111lek; ~- Y. & Harlem, 136 miles; N. J. Junction, 5 miles; total, 68S miles: grand total, 1,421 miles. The second track owned and leased is 888 miles; third track, 316 miles; fourth track, 295 miles; turnouts, 1375 miles-making a total of 2,4-;7 miles of track owned by the company, and 1,318 miles leased, 3,795 miles in all. Also operates the Dunkirk Allegheny Valley & P1ttabnrg Railroad, 104 miles, but reported separateiy. ORGANIZATION, &c. -Thls company was formed by a ccrsolldation of the New York Central and the Hudson River railroads Oc,tobe1 1, 1869. The New York Central was a ocnsoli<lnt.1on of 8everal roads under a special law o:I' April 2, 1853. The Albany & Schenectady Railroad, opened September 12, 1831, as the Mohawk & Hudson, was the :lrst railroad built in the State of New York. The .Hudson River Rail• road wais chartered May 12, l 846, and road opened October, 1851. The West Shore Railway was leased in December. 1885, fClr 4'; 5 years. 8TocK ..um BONDS.-The famous scrip dividend of 80 per cent on the eal)lta.l stock of the New York Central was made in December, 1868. aua on the conaolidation with. the Hudson River road (1'1ov. 1, 1869) a futher dividend of 27 per cent was distributed on the New York Oentral stock and 85 per cent on the Hudson River stock. In Nov., 1879. 250,000 shares ($25,000,000\ were sold to a syndicate of banken by Mr. W. H. Vanderbilt at !!;.e price of 120, and 100.000 shares sold afterwards. In Dec., 1885, a lease of the W~t Shore Railway was taken for 475 yea.rs and the bonds of $50,000,000 at4 per cent guaranteed, by N. Y. C. & Hud., and $10,000,000 West Shore stock taken al' consideration. Dividends of 8 per cent per annum haa been paid amce 1868, but in 1885 only 3¼ per cent was paid, and Jn 1886 to 1889 inclusive, 4, yearly; in Jan., 1890, 112. Prices of stock since 1878 have been: ln 1878, 103¾,@115; in 1879, 112@139; in 1880, 122@15538; in 1881, 13014@155; in 1882, 1231!s@138; in 1883, 11119@12918; in 1884, 8319~122; in 1885, 81~@10714; in 188tt. 9811i.'m1173s; in 1887, l0l~'i.HUl!s; in 1E88.10 ?11.@lll; in 1889, 1047s @11019; in 1890 to Jan. 17 inclusive, l<:o14'@107. OPERATIONS, FINANCES, &c.-'l'he New York Central & Huct.son River RR. has an exceptionally rich local traffic. but the prottta al.80 d.epend very much uoon harmony amoni;t the trunk lines. The statement for the quarter ending Dec. 31 (December being partly estimated in 1889) is as follows: 1888. 1889. (Actual.) (Estimated.) Gt'OSP earnings .••.•••••.•••..••.•.•..•••••.. $9,170,889 $9,o41J,'i:.! 1 Operating expenses......................... 5,971,ti40 6,218,585 Percent of expensestoearninga ...•..••...• (o5·11) (ti4:44) Net earnings .••••••.••••••• . •••..••..... $3,l9:1,:.l4~ $li,4lU,l;j6 First charges................... . ............. 1.963,260 1,965.4'20 . rrofit ......•..••..••...•..... . ••.. .••. •••. $1,23:'i ,989 $1,-H>a,7 lo D1v1dend. 1 per cent............. ............ 89!,'l~3 i-91,~!-!3 Surplus............... . ......... .. ..... ... $a41,70o ff> i l,43J Annual report for 1888-89 in CHRONICLE, V. 4Q, D. 855. Year Net Income, Diviending Passenger Freight (ton) Gross over exp., dends, Sep.30. Mileage. Mileage. Receipts. int.&rents. p. c. Surolus 1885.438,397,7'74 2,1J7.824.205 $24,429,441 $2,l 7t>.342 3~$"!l5:i,65 J 1886 .476,128,729 2,414,266,463 30,506,362 4,650.100 4 l,072,~6f, 1887.528,308,742 2,704,732,176 35,2!l7,0:i5 5,147.509 4 1,570,3"77 1888.559,816,001 2,!:Sl:J\:1,501,501 36,132,920 3,675,118 4 · !17,'-186 ~ .564,29 ..! ,588 2,775,582,891 3 5 .696,236 4,166,::148 41.g 142,074 * ..ueflcit. In 1884-5 total d eficit was iil2,295,072. --(V. 4.8, p. 85~; V. 4:9, p. 173,403,417, 825, 8 50,, V. 50, p. 7.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $19,,84,000 2,700,008 10,000,000 12,000,000 10,000,000 12,000,000 5,000.000 77,395,200 8,53 'l,600 2,482,000 2,149.000 4,617,000 2,926,000 709,500 182,600 3,000,000 4,500,000 16,89 l,000 :'l,705,977 2,500,000 33,597,400 508,008 4,025,76'1 3,4.f-18.000 5,292,360 38:.!,000 250,000 4 g. . 6 4 7 114 6 5 ··s· 7 5 g. 41.gg. 5 g. 4 g. 7 7 g. 6 g. 7 g. 7 g. 6 g. 6 g. 6 5 g. a:! 5 5 5 m 19,'759,000 ""gig 2,668,8011 10,000,000 6&7 5,000,000 3 to5 &6 1 .386,000 4 -A. &O. N. Y ., Union Trust Co. Oct. 1, 1937 F. &A. None paid . Nov.30,1908 J. & J. N.Y., Gr. CennalDepot. Jan. 2, 1890 M.&N. do do May 1, 1900 Q.-J. N. Y. byD. L. &W. Jan. 1, 1890 J. & J, do do Jan. 1, 1921 F. & A. Aug. 1, 1923 do do Yearfy. M.&N. M.& S. M.& S. A.. & o. J. &D. .t. & J. J. &D. A. & O. M.& 8. M.& 8. M.&N. J. & D. J. & D . J. &D. M . &N. Var. J. & J. J. & J. A. & O. Jan~"iif,.i88' May 1, 1897 Sept. l, 1919 Mar. 1, 1923 Oct. 1, 1920 June 1, 1928 July 1. 1891 June 1, 1893 Oct. 1, 1935 Sept. 1, 1920 Sept, 1, 1920 Dec. 1, 1908 Dec. 1, 1969 June 1, 1977 Dec. 1, 1~69 New York& London. Nov. 1, 1922 N. Y., 21 Cortlandt St. 1900. •02, •o~ do do $63.000 Jan. 1 Jan. 1, 1929 do do 1938 N.Y., 21 Cortlandt St. do do do do do do do do do do do do do do do do New York and London. do do do do do do Paid 6 p.c. Jan.15, 1890 .......... M_-&·N Bost'n Of.,244Fed'al.St. J. & J, Bos., Safe Dep.& T'Rt Uo. F. &A. Bt.1ston, Tr~a.s. Office. do do A.. & 0 . Nov.·i: ..i889 Jan., 1, 190~ Aug. 1, 1902 "April 1, 1939 New York Chicago & St. Loni• R11Uroad.-Owns from Bufl'alo, N. Y ., to Illinois ~tatl'l Line, 512 miles; leases in .Huffalo 119 miles; Illinois State Lins to Chica~o. 9 miles; total, 52~ miles. The former· Railway Co. was formed in 1881 and became known a.e the ·• Nickel Plate." Sale in foreclosure took place May l9, 1887, and the present company was forwed in September, 1887. The first pref. stock is for $ >,U0U,000. and has a 5 per cent preference. x:on-cumulative . and the prererred stock for $11,000,000 has next preference for 5 per cent, non-cum.; common stock is $14.00J.0U0; par of all $100. A sinking fund nf $100,C00 p er year is provided when the net earnmgs are l~0t>,UO0 or upwards, if bonds can be bought at or below 102; iC not, the s1nking fund la.p1>ei for tb.at year. thu:i leaving $tOO,vOU more for dividends. Lake Shore & Mich. Southern owns $6,240,000 common $6,275,000 2<! pref. and $2,50J,0U0 lat pref. stock. See abstract of mortga~e ~Central Trm~t Company of New York, 1jmstee), V. 45, p. 54.l. Re11ort to Sta.ts Comml~stouers for year ending 8epttmber ;;o was in CHRONICLE, V, 49, p. ti8J, 1~87-88. 1888-89. Gross earnings .••..••..••..•....•.•.••••••••. $5,05P,655 $!.908,915 Operating expenses and taxes...... •••.•••. 4,IJ74,3ti7 3,920,760 Net earnings................. . ••• .••. .••• Other incowe... ••• • •• . .••••• .•••••• ••. •••••• Total inco1t1e ................. .-. • • . • • • . • . • . $S85,'288 4,521 $988,151> 4,054 $989,809 $992,'209 $900,000 81,6::9 $789,~40 68,279 Dedttct- lnt~rest ••. • ••• • ••. . ••.•. •.• • •. . ••. . ••. • •• . .• Rentals .......... ........ •••••••••• •.•••••••• $881,689 $858,119Balance, surplus .•• •• ,...... ... ............. $108,120 $134,090 -(V. 47, p. 563, $94; V. 48, p. 100,260,589; V. 4.9, p. 145,654, 689.) New York & Greenwood Lake.-Owns from Jersey City, N. J. to Greenwood Lake, 48 miles; branches - Ringwood Junction to Ringwood, 2 miles ; total. 50 mile~. This was the Montclair & Greenwood Lake, sold October 12. 1878. The New York Lake Erie & Western controls end operates it. The holders o:I' the 2d mort. of $1,800,000 have a. right to pay otfthe 1st mort. bonds of $~00,000 at 105. Stock $100,000. Gross <,arnjn,z;s in 1888, $265,653; deti<'it on operations, $l0,474; payments, $12,378. Abram 8. Hewitt, P1·es't. (V, 48, p. 826). New York & Harle1n.-Owns from New York City to Chatham, ~- Y., 127 wiles. From Chatham to Albany, 24 miles, the Bost. & Alb, &R. is used. Thie comoany owns the Fourth A VtJ,nue street railroad. rhe property (except the horse railroad) was leased April 1, 18731.!or 101 years, t-0 the N. Y. Central & Hudson River RR. at 8 per cent mvi• 1dends on the stock and the mterest on the bonds. The pref. stock is $1,: 361,350, balance COllllDon. The Fourth ave. horse railroad bas paia dividends 11.unually in April, viz: In 1882 anct eince. 2 yearly. All operations included in N. Y. Cent. & lludson.- (V. 47, p 50.) New York Lackawanna & Western.-(See Map ef Del. Lacie~ w,-at.)-1''row ..H1ugua.w.tou r,o Hufl'alo and International Bridge and t>ranches, 214 miles; Del. Lack. & Western has a lease for 99 years, jliving a guaranty o:I' the bonds and 5 per cent yearlv on the stock (endorsed on tue cerr.tiicates). Owes D. L. & W. o~er $l,150.000 for adva.nces. New York Lake Erle & Western.-Main line Je1'8ey C1tr,: to Dunkirk, N. Y., 4oU miles, with br11.uches 576 miles . total 1,0atJ miles. OWDs-Piermont, N. Y., to Dunkirk. 446 miles; branches-New 011rg, 19 m.: Bufta!o. 61 m.; Newburg & New York RR., Vails & Gate June. to. Greenwood JunLS., 13 w.; sm;i.11 lines (stock owned) 10 m.; total owned 5-19 nules. Leases-Jersey U1ty to eufferns, N. Y. (several small roads)-. 3 t m: Jetfcrson RR., 45 m.; Buf. B1·ad. & PittE., 26 m.; Butf. N. Y. & Erie, 140 w.; :;11si1eu. Bndge &Erie June. 24 m.; Roch. & Gen. Val., 18· 1.11.; Avou ~n. M.t. Mor., 18 m; Butf. & 8. W., 66 m.; Northern of N. J,... H m.; otb. ....r swa.ll liues, 93 m.: total leased, 487 m.; total N". Y. L. E. & W., l.0J6 m. Also leases \Since 188 ) N. Y. Penn. & Ohio ani branches,. 59d miles. Total operated 1,6 J2 miles. OKGA.."illZATIUN, L!!,ASES, &c.-The New York & Erie RR. was chartered !.pell i4, l8Ji, auel opened to Duukirk April 22, 1851. Reor.canized as Erie Rail way <Jo. in l8til, and sold under the second consolidated· 11ot't)!age in 1878; reorganized as at present June 1, 1878. The Lo_ng Dock Co. has 1:1touk or $8uo;ooo, all owned by ths N. Y. L. E. & W.; itsproperty co1.ts11:1ts oJ'. la.ud,o and la.ucls <1nder water. about 577 acres, with 1,ie1·s, IJuiltliugs, &c. Tue N. Y. L. E. & W. Coal & RR. Co. is an au.x:illary corpora, iou Jrom whiut1 alvanues .,r $2,0t-il,ti46 are due, as pe1· balance tilleut of Sept. 30, ltio9. ~TOCK AND .BoNos.-Preferred stock has a prior right to 6 per cenl (non-cuwulative, J'.row ti.le uet protits, "&i declarad by the board of director.,," but the U. I:!. Suprewe Court held in 1886 t;hat this stock has 110 legal rigl..tt to cla.uu a. di 11deuo., thougb. net earnings are sulficient. Di v1tlenl.l.s siuue L8 7o hd.Ve beeu: On preferred stock from 1882 to 1884, iuclu .. ive, ti p t,r ceut-noth10g Bince. P1·ices or cJm. aud pref. stock since June, 1878, have been as :l'ollowst: o .,m.-!n 1878, 7~a>2i12: in 1879, :H18'lz)49 in 188J, 30'lz)511e; in 1881. 39 ~ a>5Vs; in 1882, 33 14'i1>43 '\i; in 1883, 267s'W407s; in 188-!, ll1s'W28:Js• .1..n 18~5, ~14@2-;- 7s; in 1886, ~2-½.•wa8:Js, iu .Le87, 24¼ m3ol!s; i.u 1888 RAILROAD STOCKS AND BONDS. 'JANUARY, 1890.J Snb■crlber■ - 99 will conCer a great favor by giving Immediate notice oC any error discovered In these Table•• 'Jona,,- Pr1no1 INTEREST OR JHVTDENl>B. Miles I llate Size, or ·,al,When Da.e Amount Rate per When Par of l!'or explanation of column beadings, &c., see note1.1 of Stocks-Last Where P-W:ob~, a.n.d b> Road. Bends. Value. Outstanding Cent. rayablf' on fl.rat page of tables. Dividenu. DJ<:E~f!RfPTlON. - - ---· New rork New Hafltt• ti Hartford-Stock • ••••••.. 1st Mort!a~e bonds, (for $5.000,00 ,,) ... .. ... .... 1· Harlem Portchester, lea~P.d, l st mort. guar. . c&r do do 2d M., coup. or reg., guar .. N. Y. (I Northern-lat mort.., ~oloi .••......••• ..•••. c 2d mort., JlOlrt, tineome till Dec., 1891) . .. ........ <' York Ontario~ West.-Stock ($7.0llOiilprP.f.) .. 1st M ., JlOld. for $4,000,000 (redeemahlfl at 1101 o Consol. M. ( iHO,OOo,000) gold. red. at 105 in '99 c• ~ew Yorle Penn.• ~ Ohio-Prior lien,goid, $ & .£ ••. c .. 1st mort., gold (no foreclosure till 1895,) $ & ll c• 2d mortgage, incomes, & £ •••..••....••..••... c* 8d mortgage, incomes, & £ ..••.••..••...•••... c* Equip. trusr. bonds, s. f. 3 p. c ., cnm. (dr'n at 100) Deferred int. warrants, conv. into 1st M. bonds . New Castle & Sh"nango Valley, 1st M., int. guar. · Sharon (least-di ht mort., gold . .....•. . ..•.••••• o ·N, Y. Phi/n,. (I Norfotk--lP.t M •• g .. $16,500 p. m .. c .. Income 111., non cumulative.$ t0,000 ver mile ... r ll/. Y. Prov. cl Bosl.on-(Stonin~onl-Stock ..••..... First mol'U?age, Providence to Stonin~on ....... c* 1st mortgage (Stonington to New London) ..•... c• IV.Yd Rockaway Be11cn-lat M.. g.,en.i'eed byL.I.c* Income bonds, non-cumulative ..•.....••.....••.. r N Y.Susqueh.(I Western-lstM., g ., Mid. of N. J .. . c• 1st M., Paterson Exten., 1 m .• aud r'l est. gold.o,. FJr1<t mort., ref1mdi11~. ~old (2d M. on 73 ruiles) .c+ New 2d M. (:f;t ,ooo,0, ;0 golu). 3d ~1. on 7,1 llille1'!.C' N.Y. Tex~ Jfex.-lst M. i e: •• $ 11r £, g u. oy So. Pac.c* Niag_araBrillg:,:! Oanan'd-Stk, 6%rent,. ,N. Y. Cent; Norfolk Soiit -1st mortgage, gold .......••• . . c •ew I 508 123 12 12 54 54 424 320 374 437 437 437 437 isss 187a 1881 1887 1887 iss4 1~89 1880 1880 1880 1880 18b8 .... ·r1 1f> 112 112 84 50 12 16 Hi isso 1 13-l 134 1:noo 1 ,000 1,000 100 1,000 1,000 1,000 1 ,000 500 &c. 1,000 ],I 00 1,CiOO 500 100 1,000 i869 100 74 73 ··-· 1·887 18 .. 9 1883 1883 1881 1887 1~87 1880 1881 18!:!7 . 18 87 1882 0 $100 l,000&<' 1,000 1.000 1,000 1,000 100 1,000 $&£ 500 &c. 500 &c. 500 &c. 500 &c. £l00 223s 1J 30&£: in 1889, 2538@3075; in 1 °PO to Jan. 17, inclusive, 2Mi.>2718 ' Pref.-ln 1878, illg11!38; in 1879,3i½l@7818; in 1880, 47@93½; ln 1881,80.lg'@961g: ln 1682, 6711!8d14; in 1883, 72@83: in 1884, 2011! 71; ,tn 1885, 18~57; in 1886. 5olg11!8112; in 1887, 59fJ/76; in 1888, : 62½!@67½!: in 1889, 61@71 :\!;. in 1890, to Jan. 17, inclusive. 63~1li64 · The ttr.. t lien bonris of 187~ bave an accumu.Jative sinking f11nd of -$100,000 yeat·ly a.ud might. be drawn, but the company" has decided that rt>demption 11hall be b7 purchase unly." The 1st consol. funded coupon bonds are secured by lien of consolidated mortgage. On the seoonrt consolidated u.....:irtga~e (Farmers'Loa.n & Trust Co., trtIBtet>), no foreclosure can take -p·.:oe tJI six successive -coupons a.re in default. but allot one coupon must be paid before any part or a subsequ13nt coupon is paid. In 1883 the collateral trust bonds ·were issm~d (the J. Et Trust Co. tM1.Stee; see V. 38, p. 509), redeemable at 110 on three months' notice. The 2d consol. rundedcoupon bonds .of 1885 were issut>d to Jund three past due ooup(?nS and the coupon of June; 1886, tbe coupons being deposited as secm·1ty. These bonds are redeemable at any time at 105 and acerued mterest. ·Tue Long Dock mort,age for $7,500,000 was issued in 1885 (;t;S.000,000 belllg re,iJerved to meet tne old bonds), and the bonds a.re payu.lJle at 110 from '1.and salf'e. The income bonds received 6 per cent interest Jan, 15, 1890, the :first ,paymer.t elnoe Dectmoer, 188:1, From Oct. 1 to Nov. 30, (2 mos.) in 1P89, ~rose earnings were lf5 ,- 284,1'; 3, a.,ainst $4,822.61:1 in 1888; net,. $J,013,'i73, a gainst ti1 19 t2,· . 090; net less proporthin due roads operated on a perotmtage oasis, $1,537,378, a1,?a1nst $!,412 ,479. The annuai'rP1,ort for year t>nding Sept. 30, 1889, was published in the CHRO.NlCLE V. 49, p. 720. The gross earnings include the N. Y. Pt:nn. ,&; Ohio and all the leaat:d lines. 188fl-7. '"•"Fi,.. 188--8. 1888-9. Total ~roes earninJl&........ $2f:,567,859!: $27,217,9•9 $27,004,106 Proport'n p aid leased tines. 2,357,501 2,3t!f>,170 2,409,133 ~aving as IZT()as revenue... Total operating t)..lpenses... $24,210.358 17,390,673 $24,832,819 18,00i1,469 $24,5!<5,273 17,85!,425 Net earnin~s.. •.••.•••..••• P.c.on.~:xp. toto•.,7rossearn. $6,819,685 $6,F29,3fi0 $6.740 848 565·4.575 66·1454 66·1167 paid to the N. Y. Penn. & Ohio as HE proportion (:'i.! pn cent of its grofls e1nniu~e) 1886-87, $2,036,841; in 1887-88, $2,040,9 l9; In 181:,8-89, $2,045 .216. -roi' these amounts there were 00.Y.l'AHATIVE STA.TKM!st,,T OF PhOFIT .AND LOSS. 18ts6·b7. Oredif•- -Earnin~a-Main line & bra. ' Working expenses ..••.••... Net earr.ing~ .••...•..••... ,Pavonia ft>rrit's-earnings .. Intert>st on ~t!curities ..•.••• •·Other credit item,; .•.• . ••.... lt:!87-l>d. $ $ 24,210,358 17,390,673 24,832,820 le,OOJ,4,0 18~8-89 $ 24,!'H-la,273 17,354.4:l5 --------- 6,7-IO,R-!8 --6,81~,685 6,829,350 $18,600,000 2,000,uoo 2,000,000 1,000,000 1,200,000 3.~oo.ooo 58.120,982 3,44,, .000 3,500,000 8,000.000 44,:W5,000 14,500,000 30.000,000 .£232,800 12,241.916 250,000 lti4,cJOO 1,848,• •00 1,000,000 4,000,000 1,000.000 300,000 7n,ooo 1.000.000 3,500,000 250,000 3,71>0,000 636,00u 1,4-!2,500 1,000,000 900,000 ·--- --- 21g 4 6&7 4 6 g. 4 g. Q.-J. ~ew H::ive11,Co.'s omce. J. & D. N. Y., Chem. Nat. Bank. A. & O. do do J. & J) . ilo do A. &O. N . Y., OlflcP, 6 Wall st ... lat coup. due June, '92 - ··6-~. M_-&·s. 'i.Y.. Offi"~ 18 Rxch. Jan.2,18f'O June 1, 1903 Oct., 1903 June t, 1911 Oct. 1, 1927 Dec. 1, 1927 .····-· Pi J. & D. '.Ii. Y. Office & London. M.& 8. N. Y . Farmers' L. & Tr. J. & J. London. None paid, M. &N. M.&N. None paid. K. &N. London. . I, 1914 Sept. June 1, 1939 .\!.arch 1, 1896 July 1, 1905 May 1, 1910 May, 1915 May, 1,1908 ..6.g. •J••&..T. N. Y., Farmers' L. & Tr. 4¼ g. J. &D. dn do g. J. & J. Phila •. Penn. RR. Office. do do 219 Q...:.Feb. N. Y., Central Trust Co. 7 J. & J. do do 4 A.. & 0. do do g. :.I.& 8. N. Y .. Offlcf', 192 B'way. No interest paid. 6 g. A.. di o. N . Y .. Nat. Park Bu.nk. 6 Er• J. &D. N. Y.Offlce, 15 Co1tla.ndt 5 g . .r. & J N. Y., Nat. Park Bank. 41sla-. F , & .A. N. Y.Otlict:1, lb Cortlandt ~ g~ A. & 0 . Y. Y. ,80.Pac.Co.:L')nd'n A. & O. N. Y., Ctmt. RR. O.ttice. 6 g. M.& S. Jui;·r,--i917 June 1, 1919 Jan. 1, 1923 Oct. 1, 1933 Nov. 1, 1889 Jan., 1899 April 1, 1901 Sevt. 1, 11"~7 Sept. 1, 1927 April 1, 1910 Juue 1, 1910 Jan. 1, 1937 Feb. 1, 1937 .A.pr. 1, 191:, Oct. l, 1889 Sept. 1, 1920 5 g. 6 g. 7 g. 5 g. 5 g. 5 g g ..... --· I Annual report for year endin!(' Sept. 30. 1889. in CHRONICLE, p 758. Uperations,&o.,iorfour yearsp~were: v. 49 INCO.llE ACCOUNT. MilPS operated........ Hecei71tsTot.d gro,ssearn'gs.. Netearnin~........... Other receipts......... Total income Disbursemen~····· 188f)-!:16. 405 lt:S8o-li7. 405 $ $ 8,8,;3,994 1,24:1,:-189 85,411 1 ,~78,800 $ 1897-R8, 490 $ 4,151.917 5,268,408 1,~aa,ti03 l,51!:!,806 65,768 n,04::1 1 ~99 371 1 ,.,~a,!:14.~ ' $' $ 1888-89. 488 $ 5,!'i63,408 l,59i.985 3,699 l,t>Uo.t>8<l $ Rentals pind. ••••••• •. 66,235 66,636 353,744 383. 2 72 Cuterest on .. 0 nds•..... 964,629 961,0i7 9d7,87l 1 Oi.J6 l62 rot on floating debt 94',269 ' ' rnt:oncar tr's1s&m1s·· 9,507 --8;~43 1i;3iji ··~;~7i 7 p, c. div. on pr. st'k.: 1 ~ -<.OOO J 3!'\.~f7~ 13!-J,416 170,341 T t'l d" b' t - - - - .,......-=--- - - - - o 1s mens.. l,:.:ltH,1hO l.L7~, ,.-1l l,4U:.:l.::SHts 1,5t!ri,746 ~alance .•..•••...•.... 11ur. 11,160 eur.l:,n,140 sur al,4.~leur. :..9,938 * Including intereRt on cost or BoRtnn Termlnol la.,rls. - (V. 48, o. 327, 526, 589, li62. 855; V. 4~. p. 145, 301, 401, 758.) New York New Haven & Haruord.-0wus from Woodlawn. N. Y., to8prin¢1eld,Mass.• 123 mileR; brancbee to New Britain, Middl&town andSuffleld,t-tc.,18 miles: t4 ,tal ownet.1141 miles; leasea-Shore.Line RR., 4S miles; Boston & New York Air Llne and branch, 55 m;: New Haven & .Northampton RR .. Nt:w llaveo, Conu., to Conway Juno., l\11tss., a.ud bra.nehefl, 137 m.; Nanga.tuck RH., .Na111eatuc1t Juno. to Wini,.ted. Co'lln,, and IJranrb, 6f m.; Hart. & Conu. Valley, Hartford to Fenwkk, Conn., 46 m.; other lines iO w.-total least1d, a67 m.; total operated. 50 8 m. The cowpany uset1 ti.le N. Y. & .l:{ar. RR. from WilllalllJta ortd~e into N. Y. City and pays a lar/;Ce rent therefor. The compan,T leases tl1e Harlem River & Portt,heAte1• Rairoad, and guarantees the honds. In July, 18~7, tl1t, New Ca.na>1n road, toe N1tugatU('k, the New Haven & Northampton and the H.:1rtrord & Connecticut Vllliey were leasorl for H9 year... DivR. or lv ~,.ct. ha."e been paid re~ularly i-ince consolidation ln lBr.l. Tn 1si:,; o authority was given to iu,·reai;e the s1ock 10 $50,000.1 OJ tor imvrovnneut.s. l,uylng stock:i and buud,, or leased road•, &o ... &c, (V. 4", p. 688). imd on s.. pt. lo. 183~. tbe stoukholct~rd voted to inol'6a86 the i.touk to $l ... 600.000, oft'.. rln~ one share or ne"' stock at piY' to each. holder of ti '"e Rbare:i of old. t, be issued Oct. 1. .Fii;oa.l year will hereafter e)IO JuLe ao. Report for tl3oal yea.rending Sept. 30, 1809, wa11 m v. 49, p. 758. 18Qfi.86. 1886-87. 1887-88. 1~88-89. 265 265 508 50.:f Miles operated . .•• $ $ $ $ 9,9,0,036 10.313,3:'>S lot al ~ros~ earn~ .. 7,({0l,!l56 '7,8!W,209 7,4.35,986 Upt:r.e.xp. and tax. 4.,775,8::!0 5,-134,~88. 7, l2Ci,778 -----=-- - ·- - 2,155,9.n 2,813,258 2,877,368 343,75P Net. earnlni?s. . ••... 2,~26,126 Dishnrxe111e1its4:12,6 ="6 442,876 452,028 959,538 972,785 300,09u R•' ntals P"id* .•... 250,0l O 250,000 250.000 .f2il,51 3 !n~J es L on debt, ..• 7,760.J43 7,7R7,t9l Total crenits .••..••..••.•. 7,817,3!")2 692,876 702,028 1 244.298 1,209,538 7,158,5-14 7,028. ~-148 Total. .••••••••. Total debits •••••••••.••••• 7,0-l~.576 2,13:-1,~50 ],753.t:!1:13 1,6:13,7~0 l,ti3:1,0i0 ~nrplnH. 1,550,0UO 1,550,000, 1,550,000 Balance............... . .. sur. 601,799 Eur. 73,;1,943 sur. 774,7,6 Divid'ds pd.,10 p.c. 1,550,000 -(V. 48, p. 222,800; V. 4.9, p. 2:l, 301, 5S0, 7Uti, 717, 720.l 83,720 sur. 83,070 Balance........ 583,250 203,81:13 Ne-w York & Massachnsetts.-0wns from Pou,:hkeensfe to .J3osto u C'oru.-; 11, 40 111i es. Prujt:ctt-1..1 to Chicopel'. Mai,11, -; 3 .uiles to a - .. -,nr>ludinJl l'Ant.R of depotR and gronnds. t Iocludt>11 $21,5 ta lnte1 est on flo ,1 U11g debt. _junction wi I b <.:ent. Mas!'., to form through route, 197 wile,., from ,Bns ton ' t.o Hudscn River. Tltis road f'mbraces the former Pou~bk.. ep-ie Hart• -v. 4", 11 . 1 oo, 526, 662, 6.,8, 70-., 7~11; v. 49, p. 236, 373, 401, 540, tord & Hostnn. fnrec·lt.,st>d in 1886. Farruert1' Loan & Trust 1•owpa11Y. 051,720, 708.) New Yo·rk & Northern.-Owns from 155th Street and stll •trustee or mortl!age. The bouds llave not yl-'t been issued. Stock authorized. $2,f>Oo,t,OO; par, $100: ii;sued, $1,014,UOO. G. P. Peltou \ venue, New York City (connet,ting- with Metropolitan Elevated), to President, PuuglJkt:1-psie, N. Y. (V. 47, p. 626.) ' Brewsters, N. Y .• and branch, 54 miles; dout,le , rack Liranch from Van New York & New England.-The mHeaae owned is as fol f'o1·tla.1 l'ltto V'oukt1ri:,, 3 mile-; op r>1.teR 4 uules: total, til m1Je,i. TheN. Y. lows: Bosto~ to HopewE:11 Jllllc~ion, :ll5 miles; Wicopee t o Newburg, 3 Oit.v & NorthPrn was 801.l in l'o1ecl11sur1-1 Alt\£, 17, '87, and tUis oumpany. 1m1les; Providence to W1llimant1c, 59 wile,i; branches-Newton, MaRs., was o rg >1.nizPd with common stocl{ or $3.0J0.000 and non-cum pref. to WoonRo<'ket, R. I., 28 miles; East Thompson, Conn., to South• 5 p er cent t1tock of $6.001),000; }lar, $1 ,0 . Tt'U8tee or 1st mortg, ta bridge, Mass., 17 miles; East Hartto1·d to Sprin,!dield, '.!7 miles; other Ce1,tral Trmit Co.; of 2d mo tg-., Farme, R' r..oau & Tt·ust Oo. Annual rep tnt t'or t88rl-8tl wa.~ 1ll CHnONI Lil:, V. 41-J, p. 652. -small brancbcs, 10 miles; total ownt>d, 359 miles. Leases-Franklin to ForyPart-urtin~ •ept. 30, 18~9. grutas earumgs were $567,213; net. Valley Fn.ll1<, 14 nJiles: Vernon to Rockville, 4 miles; Franklin to Ash. land, 20 miles; B. & A. RR.. l mile; Norwich & Worcester RR., 66 miles· f; ~4,3~0; hJt•·re>'t paili, $H0,000; constm,·tinn acc;unt, eLc., $'13,2J7, total lc&.t-t:d, l 110 wiles; also bas runnin~ arran,rt-ments o'"er 24 mile~ -(V. 4ti. p. 419. 8t8: V, 17. p 473: V. 4 ~, p, 652.) more. Torn 1. 481:! ruilf't'I. ControlR Norw1eb & N. Y. Steamer line. New Vork Outarlo & Western.-(SeeMup.;-OwneOswego,N'.Y,• The former Boston Hartford & ErieRa1Jroa<11 eeame ru1:1olvt>ut 1md1wH~ ro uornwa.11. N. L, ·27a ruilci;; IJra.ncbes ro New Berlin, 22 miles; eucceerlt-11 hy tllfa company, forme_d in 1873. Fruw ,flrn. l, l~t-4, 111 Jan t;o OP.lbl, 17 mlleR: to Ellenville,8 rui11-1R: total owned, 3-0 m iles; leH.Sea 1, 1886. road was tu llauds of r ,..ct·I ,·t>r. Trm1tt>e" ot l 1<t ruort. an- .Bo,-ttrn Raorlalh•vlllf\ to Utio:-1, 3.3 111ilP-I.I, :-t l!d Clinton t., Rowe. 12 miles; Whar, Safe De1•osit & Trnst Co.; of 2d mort. . W. T. Bart, E. C. .Firz, anc1 F. J ton Vallt-y RR. w E1lnlt'ston. 7 ru. Hy con~raot Ila.a right over West Kingsherrv. Stock is rPRnvert for -1'~41.( 00 1111uver1ihlf' Bo~t. Hart. & Slwre RR. !row Cornwnll to Weehawken. 5 :i 1nilcs, hy payment of trac.lcErie Berdei1 1 o nds. Of the 2d ruortg. bonds$ H•8 .000 bear 3 ve1 ceut ag-e; total operatecl, 4~4 ruiles. In M11y, l 880, made a.u agreement with to Feb., , .. ~o. 5 perC'P.nt to Feb. 1892,-anct H for ha !ant·e 01' tnm. Tuere tlle D. & H. Caual Co. tor operation ,,f tue U. c. & Biug. an,t the Rome & . are also $36!,fi.!5 rPal e ,,tate morrgug..-s and conn a11t. obli/,C"tiou •. (Jiin. roatl" 1'or 30 years 1111 a pe rceutage ha.sis. An extdu-dou 111 In. Divioeu,:s on prder1 ed stock have Leen 7 pt:r cent yearl.>- siuce its progres,i-H,moook, N. Y. t~, Scrautou. P,:1.; 54 u•iles - i·or coat frelghte ,issue in 1·86. ·r111s was thi:, New York & us wt-go Micllau<t. The main line wa.s sold Ran~e in comm"n 11to<:k prlcf's sln<'e 1888 bas heP11: Jn 1883. 171g;: in forMlosure Nov. 14, 1879. Present company organized Ja.nuat'T 5214: in l!:Sts4, 8'ii,,l7¼; in 181-lfi. l:l12@3fl~; in 18s;lfl. 30½!'@6838; 11l 22, 1880. 1887, 34:\!"'6~; Ill }Q~8. 2~½a5314; in 1889, 4i181l!f.3¾3; iu 18Uv 10 In tl<E-9 the conaol. mm-t~agc> (l\ierr>antlle Trust Co., Trustee) ror $10,.. ..Jan. 17, inclns,vt>, 4314,U,519. 000,000 was authoriz, d-ll,400,ooo to be reserved for prior bonds, tho https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 272.527 401,508 266,623 :~u5.2 <' 5 391,897 240,719 ----- ---- - - - - - ---- ------ ------ - - - - ---- ---- --·- 0 --;.$.·-. MAP OF THE NEW YORK, ONTARIO & WESTERN RAILWAY & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JAW.ARY, 1890.J RAILROAD STOOKS AND BONDS. 10:1 Sub•crlben will eonCer a great Cavoi by giving Im.mediate notice oC any error dl•covered In ¢he•e Tableai. DESCRIPTION. For explanation of column headings, &c., see notes . on first page of tables. Bonds-Prtnc,f INTEREST OR DIVIDENDS. Miles Date Size,or pal,When Due .. Amount Par Outstanding of of Rate r,er When Where P-Mi_able, and by Stocks-Last Road. Bonds Value. Cen . Payable om. Dividend. Norfolk South.-Oon.-2dM.deb,s.f.l'n prior to inc.c 74 2 morte:age, income (not cumulative) ..•.. .-•... c* 74 Funded int. bonds ($270,000 secured by coup's)c~ Norfolk if Western.-Common stock .••..••...••..••. 602 Prefen-ed (6 per cent) stock .....•............•..••. 602 Gen. M. ,Norfolk to Bristol, 408 m.& brs.20 m.g .. ct 428 1st M.,gold, on New River diviRion .•...••....... c* 126 Improv. & Ext. m., gold (limited to $5,000,000).c• 554 Adjustment M., g. (red'bled.fter Oct.'94 at 110).c* 554 1st M. Clinch Valley Div., gold, $19,000 p. m .. c* 105 Equip. b'ds.10-20s, s.f. 3%,drn at 100 aft. May,'98. Conv'ble debent'res (red'ble on 30 days' notice).ct Norf'k & Petersb'g-2d M ,Nor. toPet'sb'g, Slm.c South Side-1st pref. con. M. extended, .••••••••. c 133 2d mortgage, gold, Petersbur~ extended ...• •.. c 133 3d mort., Petersbur~ to Lyne b'g&br.,133 m.o 133 Enlarged m. (extended in '84) ... .••...•.....•. c 214 4thM. Lynchl.J'gto Bristol & branch, 214 m . . c 214 Hundied-year mortgage, gold .. ..•• .. .....•.....•. 694 No.Oarolina-Stook, 6 % till 1901, Rich. & D .• ••••• 223 North Pacific Ooast-lat and 2d M. (1st M. sink. fd.) 76 88 No. Penn.--Stock, 8 % guar. 990 yrs., Phil. & Read. 56 2d mortgage ..••.••...•...•..••..•••...••. .••....• •. Ge!leral mortp:age bonds ..•.....................••. Bonds secured by $1,200,000 stock ..•.....••.••. r Not·tne«stern (S. 0.)-Stock .••............•• ..••...•. 1st mortgage, provided for by con'lol mort....... o 102 2d mortgage, provided for by consol mort ..••... c 102 Consol. mort., gold (for$1,836,000) .... ····-···· o Northern ( Oal.)-lst M.,int.guar., ($6,300,000),gold. i49 Consol. M.for$21,000,000,g.,1stm.on 235 m.c~ctr 386 83 Northern, N. H.-Stock .••..••..••..••.•••..•••.••..•. .... ·si --1881 1881 1884 . ... issi 1882 1883 1884 1887 1888 1884 1868 1868 1868 1868 1854 1866 1889 issi .... .... .... issi i¥o is6o 1869 1883 1877 1888 .... $1,000 1,000 300 100 100 1,000 1,000 1 ,000 1,000 1,000 1,000 500 1,000 1,000 100 &o. 100 &o. 1,000 1,000 1,000 100 ""ifo 500 &o. .... ""ifo 500 500 1,000 1,000 1,000 100 remai~der for improvements and the extension to Scranton. They cover the entire road and branches, and $1,500,000 Ont. Car. & Scranton RR. honds and $1,495,000 stock are deposited witb the trustee of this mortgage. See circular in full in V. 48, 1i. iv adv. and V. 48, p. 826; also abstract of tbe.mortgap:e in V. 49, p. 238. Guarantees principal andinterest$75,000 Wharton Valley RR. lstmort. 5s (M. &N.) due 1918. From. Oct. 1 , 1889. to Nov. 30, 1889 (2 mos./, gross earns. were $326,742, against$?80,386in 1887-88; net, $5!,393, against:S2ti,5S4. In the year ending Sept. 30, 1888, gross earnings were $1,683,697; net, $255,479; surplus over interest, etc., $50,263. In 1888-89 gross, $1,782,327; net, $272,883; surplus over interest, &c., $61,291. See annual report for 1888-89 in V. 5v, p. 105. -(V. 48, p . 99, 159, 222, 251, 260, 292, 326,462, 662; V. 49, p. 236, 269, 654, 719,- 761,789,857; V, 50, p. I 05.) ...... --· $250,000 A. &O. 6 Oct. 1, 1921! 1,000,000 6 Yearly. Jan. 1, 197 345,000 6 Yearly. N.Y., Mercantile Tr. Co, 1920 & 1921.. · 7,000,000 ..i¼! A. & 0. Phil.,333 Walnut St. Oct:·24,""i889J 22,000,000 7,109,000 6 g. M. & N. N.Y.Ccnt. Tr. Co.&Phil. .Mali 1, 19s1 , 2,000.000 6 g. A. & o. do do Apr 1, 193~ 5,000,000 6 g. F. & A. do do Feb. 1, 1004& 1,500,000 7 g. ~--M. Dec. 1, 192~ do do 2,500,000 5 g. l\. & S. do do June 1, 1957'" 1,600,000 do do June 1, 190 ~ g. J. & D. 525,000 J 15&Jlf> do • do Jan.15,1894. 496,000 8 J. & J. do do July 1, 1893;.. 290,000 5 &6 J. & J. do do July, 1900 270,500 5g.&6g. J. & J . do do July, 1900, 452,800 6 J. & J. do do Ja.n.l,'96-19 985,000 5 .J. & J . do do June 30, 190fh 1,000,000 J. & J. 8 do do Mch. 1, i900 · 5 g. J. & J . Jan. 1, 199 4~000,000 3 M. & 8. Burlin11:ton, N. C. Sept. 1, 188!} 1,090,000 San Francisco. Nov. 1, 1901 ~ g. M.&N. 4,742,950 Q.-F. Phila. Of., 240 So. 3d st. Nov. 25, 18891>· 1,500,000 7 M.&N. do do May 1, 1896 4,500,000 ,J. & J. 7 do do · Jan . 1, 1903 1,200,000 do , 6 M.& 8. do Sept. 1, 1905 900,000 3 J. & J. Charleston, Office. July 1) 1889> 820,000 8 M.& 8. do do Sept. 1, 1899" . 322.000 M.& 8, 8 do Sept. 1, 189 ' do 694;000 6 g. J. & J. N. Y.,John Paton&Co. Jan. 1, 1 ~ 5,156,000 6 g . .J. & J. N.Y., So.Pac.Co.,~3Br'd Jan. 1, 1907"' 6,286,000 5 g. A. & O. do do Oct., 1, 1938:' 2,997,300 M.&N. Bost.,Conc'd or Leban'n Nov. l, 188& 3 0 0 (cumulative 6 per cent), $8,000,000; par, $100. The New Jersey Mid land Ju~or securities were exchangeable into s.t ock of this company on certam terms, and the exchanges up to Jan. 1,1889, left $1.375,731 of tho old stock, income bonds and scrip not yet exchani:red. There arQ also $6,000 old lats of 1911 and $93,500 deben. of 1 897 outstanding.._ Annual report for 1888 was in V. 48, p. 324. INCOME .ACCOUNT. 1885. 1886. 1s87. 1ssg_ $ $ $ $ Gross earnings .••..•..••• 1,092,355 1,129,441 1,395,186 1,445,9~ Net earnings ......••..... 50!,914 4.91,779 633,047 623,910. Other income .••...•••..•. .•••.••. 44,023 27,159 25,82 -------------- Total................. 504~14 535,802 660,206 649,738 DisbursementsNew York Pennsylvania & Ohlo.-Owns from Salamanca 322,095 327,765 441,120 4<11,120>N. -Y., to Dayton, 0,; 388 miles; branches-to Oil · City, 34 miles Interest on bonds........ 25,llOO 29,500 . 26,494 26,497 other branches, 6 miles; total owned, 428 miles. Leased · lines- Rentals ..... .•.. .. ·. . • • . . . . 92,352 155,919 , Cleve. & Mahon. Val. RR. and branches, 124 miles; Sharon RR. (till Car trust obligations . .•. Taxes..................... 30,079 34,493 "35:4;5·5 April, 1981-rental $35,181, &-c.) Sharon, Pa. to Sharon June . and brs., . •• . . . . . . . .. . . . . 2 ,541 2,699' 14 m.; New Castle & Shenango Valley, New Castle to West Middlesex, Miscellaneous....... ..... 17 miles; other lines, 13 miles; total operated, 596 miles. Formerly Total disbursements. 469,F,26 547,677 505,610 498,318; Atlantic & Great Western Railway. S Jld JuJ:v L, 1871, and again sold Balance .•................. sur. 35,388 df. 11,875 su.154.596 su.151,420Jan. 6, 1880, reorganized, and again leased to Erie. Five trustees exercise the voting power of the new stock until the third -(V. 46, p. 134, 198,256; V. 48, p. 38,324,327, 764.) mort. bondholders receive 7 per cent interest in cash during three years. Ne-w · York Texas & Mexican.- Owns from Rosenberg to.The first mortgage bonds bear 7 per cent, whatever portion of this that Victoria, 92 miles. Stock, $643,040; par $100. There are also $75,500may not be earned to be payable in deferred warrants, to be capitalized 6s outstanding. Is operated by the 1:30. Pacitl.c Co., which guarantee . in bonds of the same class ; payment of interest to become absolute not the 4. per cent bonds. From Jan. 1 to Nov. 30 in 1889 (11 mos.), gros later than July 1, 1895, and until July 1, 1895, the right to foreclose earnings were $170,375, against $130,688 in 1888; deficit, $10,649_., the mortgage is suspended. On the second and third mortgages there against def. $33,384. In 1888 gross, $146,527; deficit, $32,883. ls no right to sue the company or to foreclose. Stock is--pref. $10,000,000; com., $34,999,350; par ~50; the deferred wan-ants Sept. 30, '88, Niagara Bridge & Canandalgua.-Owns from Canandaigua t&were $9,439,760. Bonds above are also secured on leasehold estates, Buspension Bridge, N. Y., and branch, 100 miles. The road is leased in A lease to N. Y. Lake Erie &Western made April 30, 1883, was moru- perpetuity to the New York Central & Hudson at $60,000 per annum ... · :fied April 1, 1887, and again October 1, 1888 . .See V. 49, p. 793. The with right of lessee to commute by payment o! a gross sum of $1,000,000 rental is 32 p. c. of all gross earnings until these reach $6,000,000, and N orColk Southern.-Formerly the Elizabeth City & Norfolk this proportion decrearns by 1-10 of 1 p . c. for each $100,100 of gross Name ohanged Feb. 1, 1883. Owns Berkely, Va., to Edenton, N. C., and earnings above $6,000,000 until the gross earnings are $8,000,000. If branch, Si miles. Capital stock, $1,000,000; par, $100. Reorganizaearnings equal or exceed $!:1,000,000, the rrntal t<hall be 28 per cent. tion in progre;is, and securities deposited with Atlantic Trust Co. But if 32 per cent of the gross earnings should ever be less than a speci- Foreclosure suit begun in Sept., 188~, and Nov. 2"l Mr. Watson B. Dickfied minimum snm ot $1,757,055 to be paid yearly, then the deficit is to inson wai appointed receiver. Gross earnings in 18 8, $297,615; net,. be made up without Interest out of the excess in any subsequent year. $54,538 after $27,000 spent for betterments .-(V. 49, p. 719.) Earnings for year ending Sept. 30, 1889, $6,391,302; net, $1,745,721; NorColk & Western.-(See Map.)-Owns from Norfolk, Va., t ~ r ental to N. Y. P. & 0., $2,045, '216; loss to lessee, $299,495. (V. 48, p. Bristol, 408 miles; branches-Petersburg to City Point, Va., 10 miles; 18 8, 590; v. 49, p. 83, 174, 580, 616, 654, 793, 857.) Junction.to Saltville, Va.. 10 miles; short branch•s 2 miles; New River New York Philadelphia & NorColk.-OperatesfromDelmar, Division (Radford to Elkhorn, 84 miles; Cripple Creek Extension, 30· Del., to Cape Charles, Va., ~5 miles, and King's Creek, Md., to Crisfield, miles; other, 30 miles) 144 miles; Norf. Term. RR .. 5 m.; Clinch Vallev 17 miles; total, 112 mile~. Succeasor of the Peninsula RR. Co. of Va Division, 24 miles; total operated November, 1899, 602 miles; undeit-Has traffic contract till Jan., 1895, with Penn. RR., which Co. sets construction, Clinch Valley Extension 92 m., to be completed in 188Q. aside 10 per cent gross earnings to purchase first mort. coupons. See The Atlantic Mississippi & Ohio RR. Co. was a consolidation of NOl"-V. ,47, p. 807. Capital stock , $1,714,375; par, $100. In nine monthb folk & Petersburg, South Side and the Virginia &Tennessee roads; it wa enrung Sept. 30, lti88, gross earni.n,g-s were $482,533. against $389,607 foreclosed Feb. 10, 1881, and was reorganized as the :Norfolk & Westem. in 1887; !!et, $135,367, ag~inst $73,445. A .. J. Cassatt. President, Abstract of Chnch Valley mortirage (Filelity Ins. Trust & Safe D. Co.. Philadelphia. (V. 46, p. 228, V. 4.7, p. 170,802, V. 48, p. 589.) of Phila., Trustee.)in V. 45, p. 541, the issue, exclusive of $500,000 f~ New York Pro-.-idence & Boston.-Owns from Providence, R. equipment, is at$ L9,000 per mtle. r., to New London, Conn., 62 miles; branches, 22 miles; leases-Pawtuxet The Equipment mortgage of 1838 (trustee Girard Life Ins. Co. or branch road, 6 miles; Prov. &. Worcester RR , Providence to Worces- Phil.) is for $5,000.000, and covers all equipment and rolllng stock ancb ter and branches. 51 miles; total operated, 141 miles. In 1888 arranged all car truBt obligations purchased with the proceedR of bonds issued_ to lease Prov. & Wor. RR. for 99 years at 10 per cent per annum on the There are a'so $91~,000 car trust certificates outr,tanding due at varistock and interest on bonds, and in July, 1889, took possession. Thames 0 1s dates. River bridge constructed by this company and costing about $1,500,The 100-year mort. of 1889 (trustee, Mercantlle Trust Co.) provides foi000 wal'l completed in 1889. Company's stock is to be increased the issue of $20,000,000 bonds, plus such additional amounts as may to $5,000,000 F~b. 1, 1890. Owns a n:aiority interest in the Provi- be required to redeem by· purchase or exchange (provided no increaB dence & Stoninj(ton Steamship Line, which has a capital of $1,500,000. in int~rest charges be thereby created) prior bonds on tbe 694 mile Dividends since 1876 have been: In 1877 and 1878, 10 per cent; from built and under construction, which prior bondsmustnotbeincreased t 1879 t'l 1835, tnclu~ive, 8; in 1886, 8½; in 1887, 1883 and since, at the exceed $22,825,000 in all. The first issue is $10,000,000. uf whic rate of 10 per cent per annum. In year ending sept. 30, 1889, gross $6,000,000 is reserved for the extension to Ironton on the Ohio River. earnin~s were $2,886,425; net, $539,286, addinp: ss. dividends (£95,- A f ull abst~act of this mor~gage will anon appear in tbe CHRONICLE. 820), $635,106; surplus c\Ver :fixed charges, $533,446, out of which Dividends on preferred stock: in 1882, 4 per cent; in 1854, 312 in scri paid dividends $375,000. (V. 45, p. 819,820; V. 46, p.134, 573; v. 47, in 1888, l½; in 1889, 3. p. 7 43; v. 49, p. 823.) The range of stock pnces since 1882 have been as follows: In 188:tNe-w York & Rocka-wa-.r Beach.-OwnsfromGlendaloJunotion 10'.<1Jl8; in 1884, lO'a/1212; in 1885, 8'Wl37s; in 1886, 8'W27~; in 1887;.. 1 13'W233a; in 188~, 151s'W23 14; in 1889. 1414'@2218; iu 1890, to Jan.17.. to Rockaway Beach, 10~ miles; leases trackage-Glendale Junction to inclusive, 22'w221s Prefen-ed-In 1883, 32'W49~; in 1884, 17@42 ~ Long Island City, 612 miles; Fresh Pond to Bushwick, 212 miles; Wood- in 1885, 14'a>3412; in 1886, 25'a>593a: tn 1887, 34.½-W55?s; in 1883 ,. haven to Brooklyn, 612 miles; Hammill's to Far Rockaway, 312 miles; 4 112'W585s · 1889 4 712'W61:\i · 1890 t r 1"' · 1 60¾'1r6214 total operated, 29 34 miles. Stock is $1,000,000; par !ill0O. Controlled From J~n~n1 to Nov. 30 in ui9 (1 i ~on:~). '~~~su!"ii.niin~s were, by L. I. RR. Co., whose endorsement ts printed on :first mort11age $5,091,671, against $4,489,872 in 1888 ; net, $1,922,305, againa bonds. (Formerly N. Y. Woodhaven & Rockaway). In year ending Sept. $1,750,956. 30, 1889, J?ross earnings wei-e $203,834; net infome, $43,377 ; surplus The annual report for 1888 was published in the CHRONICLE, v. 4.8,.. over interest and discounts, $4,777. (V. 46, p. 572, 856; V. 47, p. 3:-l3). p. 488, 490, and the affairs of the company, its progress, status, &c _ Ne-w York Susquehanna & Western.-(See Map.)-Jersey City are there set forth at l ength in the President's repo1·t. The earning&. to Gravel Place, Penn., 101 miles; Two Bridges, N. J., to Unionville, N.Y., and expenses for four years were: 21 miles; otbf'r branches, 12 miles; leases-Unionville, N. Y., to Middle1885. 1886. 1887. 198~. 554 . town, N. Y., 14m.; Penn. RR. trackage, 3m.; small branches, 6m.; total, Miles ow'd &oper'd. 510 533 594 157 miles. OperationsThe New Jersey Midland was sold in foreclosure F eb. 21, 1880, and Passenger mileage.. 19, 151,5S4 19,580,000 26,703,579 35,385,81 5., the Midland of New .Jersey was organized. The New York Susquehanna R ate per pass. p'rm. 3·027 eta. 3·122 cts. 3·041 eta. 2·833 cts~ &'Western was a consolidation in June, 1881, of the Midland of New Freight ttons) ml'ge.295,.'!.88,872 403,,008,908 541 ,_~ 1 1 ,9 4ts5. 669 ,_r, 2 6 ,~4t~ Jersey and other railroads. Stock common is $13,000,000, preferred Rate per ton perm. 0 141 cts. 0 655 eta. 0 635 0 0 5 8 2 ., .. _ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ·2s:oo(i Blooming Gr~ve Wi -n-, ~ ~tsant '{7 1r[1J le '1 NEW YORK, EHANNA & WESTERN ~ CONNECTIONS. ~USQU R.AILRO.A.D .A:N D https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 <.:anndc ts https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ancn JW ,/~ ~'/ ~ ' l ';; C ' '/ , 't' ,,.. I ,!:}/ Sr . """'i i -~ ,,Q,'j l,'J ,~,'Jo r . , , ,l ,/ ❖ ,,;~ ,' ~ , y ~ ~ 0 MAP OF THE NORFOLK WE-STERN RAILROAD A.ND AND CONNE0TIONS. INVESTOR& SUPPLEMENT. [VOL. L. 811bscrlber• will conf'er a great f'avor by giving Immediate notice of' any error discovered In these Tables. DESCRIPTION. INTEREST OR DIVIDENDS. Bonds-Prinoi• Miles Date Size, or Amount pal,.When Due. For·explanation of column headings, &o., 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. ---- ---•1 ----------1 ----·-J. & J. Balt. & Phil. 233 s. 4 st. Jan., 1890 . 4/forthern Oentral-Stock.......... 1st mortgage, State (Maryland) loan.............. 5 $50 $7,150,000 381 1,500,000 6 138 1,126,000 6 -2d mortgage ...•..•...••.....•••....••.••........ o* 138 i865 500&0. 2,599,000 1,000 6 g. ·consolidated mortgage, gold ...•••..•...•......•. c 138 1868 205,000 1,000 6 g. -Consoli.dated mortgage, gold ..••...••...•........ r 138 1868 2,208,000 6 g. "OeDB. !en. M.,g., s.f., drawn at 100, £or$ A. & B.c 138 1874-5 1,000 2,000,000 6 g. o do gold,$ C &D ..•...•....•. c .1 3 8 1876·7 1,000 1,220,000 1,000 419g. <do '10 gold, E ..•....•.....••..... c 1 3 8 1885 2,730,000 5 ~d gen. M., "A" (s. f'd $30,000 yearly) .••..••... ck 138 1876 1,000 1,000,000 1,000 5 de ~o "B." ..•...••....•....•...•... c* 138 1876 ·900,000 6 ;Union-R R.,lst(ass'd) $117,000 end.byBalt. City.c• 9 '67·'70 500 &c. 1,000 600,000 6 g. 'GO 2d mortgage {assumed)$ or £ ...... o 9 1873 544,000 6 •orlh. ofNew Jersey-3d M.,now 1st (for $700,000lc 21 1887 100 &G. 100 49,000,000 6orthernPacijt(}-Uommon stock .•....•...•...•...•. 3,465 .T 100 37,172,577 ~!erred stock (8 p. o., not cumulative) ....•..••. 3,4.65 2,130,000 6 Lllft.Jl. and ld gr., Missouri Div., dr'n. at par.. c*&r 205 i879 500 &c. 2,419,000 1,000 6 ! •let M &Rd ld gr., P. d'Or. Div., dr'n at par .. c *&r 225 1879 1,000&<' , 46,943,000 6g. 1881 "Gen lstM ld gr, g., $25,000 p.m., dr. atllO •. c*&r 2,136 6 g. • Gen. 2d M., g ., 1. gr.,s.f.,dr. at 110 .••.....•...• c*&r All 1883 l,OOO&o 20,000,000 1,000 11,011,000 •Gen.3dM. s.f.,notdrawn.~··········· .. ·····ck&r All 1887 935,500 1888 500 &c. , Dividend certificates, ext'd m '88, red. after '92 .. 963,000 1,000 6 g. •Jas. Riv. Val. RR. 1st M., gold, guar., s. f ..•... ck ·04 1886 500 360,000 6 g. -COOur d'Alene, 1st mortgage, gold .............. o* 33 1886 1,000 627,000 1888 Gen. M .. $25,000 p. m ., g., gu . , s.f., dr'nat 105.c* : g. 1,000 1,557,000 'Spokane & Palouse, 1st M., gold, guar., s. f ..... o• ioi 1886 1,650,000 6 g. 1,000 ..Duluth & Manitoba, 1st M., gold, guar., s. f .. .. c• 110 1886 1,451,000 1,000 6 g. do . do Dakota ex., 1st M., g., guar., s.f. 96 1887 400,000 1,000 6 g. 17 1887 FHelena & Red Mountain, 1st M., ~d., guar., s. f .. c* 1,000 318,000 21 1B87 5 g. No. Pac. La Moure & Mo. R., 1st M.,g.,guar.,s.f.c* 6 g. : No. Pac. & Montana,lst M.,g.,gu.,s.f.not d 'rn c•&r 165 1888 1,000&c 4,131,000 6 g. 88 1888 l,750&c 1,750,000 Cent. Wash. RR .. 1st M.• g., gu., s .f., d'rn 105.c·&r 5 or less · Consol mortgage for $160,000,000, gold.......... • .. . 1890 1,000 3,000,000 6 g. :a-orthernPac.Ter.Oo.-lstM.,g.drn aft.'92 atllO.c• .. .. 1883 g-g. Earnings- .Passenger .......... . !Freight ............. . Mail, exprese, &o ..•• -..~otal gross ea.m's. Receipts- ·wet earnings ....•••• ,<)ther receipts ..•... ·,Total income..... I>isbursementsmter. on bonds. &c.. Divid'nd,t¼onpref. - Miscellaneous....... 1885. $ 458,445 2,138,120 174,555 1886. $ 486,231 2,5£0,827 174,998 1887. $ 685,257 3,405,220 164,317 - - - - - ----2,771,120 3,252,056 4,254,794 INCOME ACCOUNT. 1886. 1885. $ $ 1,291,146 1,121,829 34,303 ......... 1,121,829 $ 1,139,991 ...... 55,699 1,325,44.9 $ 1,184,547 ...... 9,239 1887. $ 1,771,014 109,497 1888. $ 861,778 3,820,167 217,654 4,899,599 1888. $. 1,897.672 147,438 -1,880,511 2,045,110 $ 1,237,134 .....• 7,849 1,296,551 330,000 ..... . $ Total disbursem'ts 1,195,690 1,193,786 1,244,983 1,626,551 t18rJanoe.. ... . .. . . ••• def, 73,861 sur. 131,663 sur. 635,528 sur. 418,559 -(V. 47, p. 81, 140. 327,532,745; V. 48, p. 128, 129, Ul, 220, 2';!2, ·4 74, 488, 490,589; v. 49, l). :...45, 403, 616.) North Oarollna.-Owns from Goldsboro to Charlotte, N. C., 223 m. 91.'he property was leased Sept. 11, 1871, to tne Richmond & Danville Bailroad for 30 years at a rental of $260,000 per year. Dividends of 6 r cent are paid on the stock, of which the State of North Carolina holds ,000,000, and the dividends thus received by the State are applied to r bonds issued to the North Carolina RR. North PacUlc Coast (Nar1.1ow Gange).-Owns Sancelito to IDunoans, Cal., 73 miles; branch to San Rafael, 2 miles; leases San Rafael to San Quentin, 3 miles and Duncan's Mills to Cazadero, 8 miles; 'total operated, 86 miles. Stock, $2,500.000; par, $100. In U:88 gross -earnings were $347,460; net, $63,857; interest, $44,940. No latie tnformation. North Pennsyl..-anla.-Owns from Philadelphia, Pa., to Bethlc• 'bem, Pa., 56 miles; branches-Jenkint'n to Dela. River, 20 miles; Lans• dale to Doylestown, 10 miles; Iron Hill to Shimersville, 2 miles; total •perated, 88 miles. The Northeast Penn. and the Stony Creek roads are <>perated under contract. In May, 1879,was leased for 990 years to Phil. ...& Reading at tY@7 p. c. on stock till into 1883, and 8 per cent thereafter. Northeastern (S. 0.)-0wns from Charleston. 8. C., to Florence, ·s. C., 102 miles; leases jointly, Lane, 8. c., to Sumter. 8. C., 38 mileE; "f;otal opera,ted, 1-10 miles. This company has earned the interest on Jte bonds, with a good surplus. Fi,;cal yfar changed; hereafte.r to end June :SO. Of consol. mortp:age $1,142,000 was held to retire debts of prio1 lien. Stock, $900,000; par, $ 50.. In 9 months ending .Tune 30, 1889, . gross earnings were $4.89,026; net, $98,360; adding other receipts, total ~net applicabl ~ to interest and dividends, $123,142; dividend paid (6 jper cent) $54,000 ; in yfar 1887•88, gross, $601,077; net, $160,729; sur• ~lus over interest, $63,~l; dividend paid (9 per cent), $81,000. (V, 45, .J). 401, 768; v. 47, p. 708.) Northern of' New .J'ersey.-Owns from Bergen, .N. J., to Sparkill, .'N. Y., 21 miles; leases Sparkill to Nyack, 5 miles; total oierated, 26 -miles. By contl'act of April, 1869, it is operated by New York Lake Erie & Western, at 35 per cent of its gross earnings and five fif1y•sixths -<>f the balance. It is understood the contract is terminable by either 3party on notice. The stock is $1,000,000; par $100. Dividends are _paid as earned on the renta::; 112paid July 15, 1889. In 1887·88, rental ~100,698; in 1888·89, $101,446. (V. 46, p. 255; V. 47, p. 803.> 'Northern Railway Co. (OallCornla).-This ls the title of a con• 1SOlida1ion .\fay, 1888, of several corporations in California, inoluding ,the original company of the l.'ame name. '.l.'he total length of Imes comrpleted and projected will be 700 miles; of which 390 were in opera• "tion at the close of 1888. The whole is leased to the Southern Paciftc -Company, which will became the owner of nearly all the stock, the les• "See paying the interest. fixea chargee, betterments and additions. The capital E>tock of the new company, authorized, is $21.000,000 ; of --which there had been issued in exchange for old issues $10,308,800, and •or new lines at the rate of $30,000 per mile $1,800,000, a total of $12,· 208,800. The co usol 5s of 18l:l8, issued under mortgage for $21,000.· C>OO, are a first liec. on 235 miles, and have a einking fund after 1897, but bonds cannot be c alled.-tV. 46, p. 650.) , Pe Northern_1_Ye-w Ham.pshire.-Ownsfrom Concord, N. H., to Weet !Let.a.non, N . .li., 70 miles; branch, Franklin, N. H., to Bristol, N. H., 13 'ID.ilea; total, 83 miles. A lease to Boston & Lowell for 99 years from ~an. 1, 1890, was ratified in Dec., 1889, and then assig ned to Boston & Maine, rental bein~ 5 per cent on stock tilJ Bfter July I, 1897, and ti per <IBnt thereafter. Dividends since 1876 have been: From l877 to 1879. .5· v. ct.; from 1880 to 188! inclmive, 6; in 1885, 13; from 1886 to 1888 .inoluaive, 6 yea11y. (V. 49, p. 269, 825.) Northern Oentral.-Owns from Baltimore, Md., to Sunbury, Pa~ 139 miles; branch-Hollins to Green Spring June., 9 miles; leases-Sham. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Q.-J. A. & O. J. & J. A.. & O. ,J. & J. J. & J. A. & O. J. & J J. & J. J. & J. M. & N. J. & J. Annapolis. Balt. &Phil.,W.Nat.Bk. Baltimore, Treas. Office. do do London & Baltimore. Baltimore, Treas . Office. do do do do do do do do N.Y., London & Balt. J. City, Hudson Co. B'k. Irreaeemable. April 1, 1900 July 1, 1900 July 1, 1900 July 1, 1904 July 1, 1904. April 1, 1925 Jan. 1, 1926 Jan. 1, 1926 Jan. 1, 1895 May 1, 1900 Julyl, 1917 M. ·&N. N. Y.z Mills Budilding. a0 0 J. & J. do do A. & 0. do do J. & D. do do J. & J. do do J. & J. do do M. & 8. N.Y., Land&Seo.Inv.Co. A. & O. N. Y., Mills Building. M. & N. do do J. & J. do do J. & D. do do M. & 8. do do J. & D. do do M. & 8. do do M. & S. do do Jan. 15, 1E90 May 1, 1919 Sept. 1, 1919 Jan. 1, 1921 Deo. l, 1933 Dec. 1, 1937 Jan. 1, 1907 Jan. 1, 1936 Sept. 1, 1916 Oct. 1, 1938 May 1, 1936 July 1, 1936 June 1, 1937 March 1, 1937 June 1, 1937 Sept. 1, 1938 Sept. 1, 1938 M. & 8. J ..&.. J. N.Y., Winslow, L. & Co. Jan. 1, 1933 okin \Tu.U, & Pottsv. RR., 28 m.; Elmira & W'msport RR., 78 m.; oper• ated at cost-Elmira. & Lake Olltario RR., 103 m.; Summit Branch RR., 20 m.; track of New York Lake Erie & Western used, 7 miles; total operated, 384 m. The Penn. RR. owns $3,322,81JO of stock. 'l'he 2d general mortgage provides that $30,000 yearly shall be ap• plied to the "purchase and redemption" of series •• A" .bonds. Dividends eince 1880 have been: In 1881, 512; in 1882, 6; from 1883 • to 1886 inclusive, 8; in 1887, 8 and 10 stock; in 1888, 7; in 1889, 8. From Jan. 1 to Nov. 30Hn 1889 (11 months) gross earnings were $5,• 569,731, agst. $5,703,857 in 1883; net, $1,855,73!3, agst. $1.819,953. The fiscal year ends Decembe1; 31, and the report for 1888 was in the CHRONICLE, V. 48, p. 290. INCOME ACCOUNT, 1885. 1886. 1887. 1888. $ $ Receipts$ $ 5,474,617 6,212,926 Gross earnings ....... 5,490,923 6,203,394. Net earninP,s ..•••..•• 2,235,309 1,931,949 2,073,484 2,109,821 Other receipts ........ 254,070 277,348 251,125 307,628 ---- 2,209,207 --·- --·- - - 2,324,609 2,417,4:H. Total income ....... 2,489,379 Disbursements- Rentals l's'd lines,&o. Interest on debt.~ ..•• Dlvia.ends ......•..... Rate of dividend .••.. Miscellaneous ........ $ 442,203 931,272 520,000 8 53,690 ul997 903,041 520,000 8 44,775 --·- $ 460,819 902 ,910 545,946 8 48,196 --- $ 470,706 926,505 571,966 8 79,495 1,957,872 2,048,672 Tot. disbursements. 1,947,165 1,914,813 368,776 Balance, surplus... 542,214 294,484. 366,737 -(V. 46, p. 226, 739; V. 48, p. 290, 562.) Northern Paclfic.-(See Map.)-LINE OF ROAD-June 30, 1889, owned: Main line-Ashland, Wis., to Portlalld and Wa.llula Junction, Oregon, 2,134 m ; Duluth to Nor, Pac. June. (12 interest), 24 m.; other lines, 15 m. Total owned, 2,173 m. Leases and controls-St. Paul & N. P., Brainerd to St. Paul 142 m.; St. P. Minn. & Man., St. Paul to Min• nea.polis, 12 m.; C. St. P. M . & 0 .. Superior to W. Superior, 4 m.; South• eastern Dak. RR., 9 m.; othet· lines, 15 m. The Northern Pa,cific also op~rates t 1. e following roads and guarantees a certain rental, sufficient to pay interest and sinking funds: From TJ Miles. *Little Falls & Dakota ....••.. Little Falls........... Morris ............. 88 *No. Pacific F . &. B. II . . ...... Wadena............... Milnor........... . 117 Fargo & Southwestern ...••... Fargo ....•......•...•. La Moure......... 87 *Jamestown & North ........ 5 J am~s~wn............ Mine'w'k'n...••.•. 90 i CarrLD 0 ton ............ 8ykeston ......... 13 *Sanborn C. & T. M . ......... . Sanborn .............. Cooperstown .•••• 86 *Rocky Mtn. of Mont.......... Livingston .. . ••...... Ctnnabar.......... 52 *Helena&Je:fferson Co ..•••... PricklyPr. Jc ...... Wickes ............ 20 James River Valley ........... Jame town .......... Oakes ............. 64 Spokane & Palouse .........•. MarshalLTc ........... Genesee ........... 10-l Duluth & Manitoba ........... Winnipeg Jc......... Grand Forks ...•.. 110 . " " Dak. Div......... Grana. Forks ...•••••. Inter'l Boundary. 97 Helena & Red .MountaiB....... Helena................ Rimini. · - ......... 17 Clough Jc............ Marysville........ 12 Je:ff'"rson J<' .......... Cdlvin .......•.... 30 N. P. & Montana ........ . ... Mist oula ............. Grantsdale ._ •.... 50 Drummond ........... Rumsey.......... 32 tCanyon House ••••. into Jefferson Co. 40 N. P. La.Moure & M. R ... ...... La .Moure ........ ..... Edgeley.......... 21 tCential Washington . ......... Cheney,W.T ....••.••• NW.into LinQ'nCo 62 Creurd'Alene R.&N.Co ........ Old Mission ........ . . :rviulla •1. ........... 39 Spokane Falls & Idaho ..•..... Hauser Jc ............. Creur d'Alene..... 13 N. P. & CascadP .....•.......•.. South Prairie........ Willr.& Car........ 19 N.P. &PugetSd. Shore ..•..... Puyallup Jc .......... Stuck Jc.......... 7 Grand total owned, leased ana. controlled June 30, 1839, 3,465 miles• • The first seven roads marked with a star are those covered by the o. T. trU8t deed. · t Completed since June 30, 1889. The Northern Pacific & Montana and the Creur d'Alene Railway & .Navigation Co. bond8 are issued at $25,000 a mile; the James River Val• ley, the Duluth & Manitoba, and the Northern Pacific La Moure & Miesouri River at $15,000 a mile; the Spokane & Palouse at $16,000 a m1le; the Helena & Red Mountain, a round sum; all the rest at $20,000 a mile. The Northern Pacific La Moure & Missom·i River, the Spokane Falls & Idaho, the Northern Pacific & Cascade, and the Northern Pacltl.o & Puget Sound Shore are 5 per cent bonde; all the others are 6 per cente. All these bonds, except the three last named in the table and except the N. Pacific & Montana bond?, may be drawn and redeemed at 105 (certain amounts per ytar), under sinking fund provision s, which in most cases commence ten years af:er the date of iss ue of the respective bonds. The 0. T. bonds are redeem·:1,ble at any time on n otice. An important operating contract with Wisconsin Central was made in May, 18ts9, giving N. P. a route to Milwaukee and Chicago, with terminals. (Sec V . 48, p. 590.) · ORGANIZATION.-This company was chartered by act of Congress July 2 1864. The land grant w·a s ~O sections per mile in States and 40 il JANUARY, RAILROAD STOCKS AND BONDS~ 1890.J 103 Subscribers will conCer a great .favor by giving Immediate notice oc any error discovered In these Tables. DESCRIPTION. For explanation of column headings, &o., see notes on first page of tables. Eonas-l'rtn.ol INTEREST .OR DIVIDENDS. Miles Date Size, or Amount Rate per When Where Payable, and by pal, When Due•. of or Par Stocks-Last Outstanding Road. Bonds Value. Cent. Payable Whom. Dividend . Norwich re W01·cester-Pref. stock, 8 % rental. ...... 66 1st M.. principal & int. guar. by N.Y. & N. E ... o~ 66 Ogdensburg d! Lake Ohamptain-Sinking f'd bonds Consolidated mortgage (for $3,500,000) .......... Income bonds, not cumulative ...•• . •.....••....••. . Bonds .••..•...•••••.....••...•..• •..••...••.••... .. r Ohio Ind. d! W.-Ind. Bl. & W., 1st M. pref....... c&r 202 O. I. &. W. 1st M. ($500,000 are pref. bonds) g ... c" 342 2d mort~ge, gold .....•...•..••.••••..•.•.••.•. c• 342 lst&2d ., mt. cert. drawn atlOO .. ~·-······--·· 342 Ohio ii Mississippi-Stock ($4,030,000 is pref.) ..••. 623 1st general mortgage (for $16,000,000) ..•....•. c" 1st oonsoli1ated mort. ($3,445,000 ares. f.) .••. o• 393 Consolidated mortgage, sterling, s. f. not drn .. ck 393 2d cons. mort.,(cum. sink. fund.), no drawini .. c• 393 Spring. Div. (Sp. &ill. S.E.) lstM. ($3,000,00 ).o• 222 Equipment Tr., 10 per ct. drawn YE>arly at 100.o~ Ohio ii Northwestern-lat mort., $12,000 per mlie .. 2d mort., $7,000 per mile, for $1,200,000 ..•. . •..• 103 Ohio River- lat mort., gold ($12,000 per mile .... c* 169 Gen'l M., gold (for $3,000,000), 1st on 40 miles.c• 203 Ohio Soitthern-lst mort. ($15,000 p. m.) gold .... c* 132 Gen. mor t., gold (for $2,800,000) ................. c* Ohio Valley, Ku.-Gen. consol. M. ($20,000 p. m .)c* Old Oolony-Stock authorized, $15.000,000 ...••. c* 564 Bonds (not mortgage) ..........••...........•... c&r Bonds do ($2,000,000 F. & A.,Aug.'97).c&r Bonds do ............................ r Bonds for Fra.minE?ham & Lowell bonds .•...••. c Bonds not mort. ($750,0uO '8<1, due July, 1904).r New Bedford RR. 1st mortgage ...••.••..••..••. c Bost. Olin. F. & N. B. mort. bonds ....•..•...••.. o 125 Omaha DodiJe Oily & So.-lst M. ($20,000 p. m.) .c.. ..... ffs --· io:i - -· ----- ------ ·-$100 $2,620,300 4 J. & is77 1,000 M.& 400,000 6 1871 1880 1880 1888 1879 1888 1888 1888 1,000 500 &c. 100 &c. lOO&c. 500 &c. 500 &c. 50 &c. 100 1,000 1,000 1868 1868 £200 1871 1,000 1874 1,000 1887 1,000 1,000 1886 1886 1,000 1,000 1886 1,000 1887 1881 1,000 1,000 1889 1,000 . 100 1,000 '75-6·7 1,000 1,000 1882 1.000 1884 '84-'88 1,000 1,000 1874 1,000 1880 1 ,000 1888 isss ios --· .... is74 .... .... ---· ·5s tions in Territories. The road opened, 450 miles, to Bismarck, was foreclosed August 12, 1875, and reorganized Sept. 29, 1875. . STOCKS AND BoNDs.-The preferred stock has a preference for 8 per cent 1n ea.ch year if earned, but is not cumulative. ~rhe common stock then takes 8 per cent, and after that both share a.like. The pref. stock claim on net income i s subj ect to expenditures for new equipment. Pref. stock is received in payment for company's lands east of Missouri River at par, and the proceeds of the lands sold go to the retirement of preferred stock. Dividend ot 11 ·1 p. ct. was paid on pref. stock in Hl83, and in Novem• ber, 1889, dividend of 1 per cent was declared, payable Jan. 15, 1890, and a, back surplus due to pref. stock was found of $2,844,429. (See v. 49, p. 654.) Of the outstanding debt June 30, 1889, $1,366,000 was held by the trustee of the sinking fund, $1,130,000 being in general 1st mort. bond~. The general first mortgage bonds are a tlrst lien on the main line and on the land~, except as to tha.t part subject to the two divisional mortgages and that east of the Missouri River which is subject to ,he preferred stock. Central Trust Co. of N. Y. is trustee. The bonds are received in pay ,neut for lands at 110 and interest, and proceeds of land sold must be applied to redemption of these boi:ds at a price not exceeding 110 and interest. Sinking fund of one per cent per annum of the total amount of bonds issued (the proceeds of land sales being included as part of the one per cent) began in 1886, and the bonds may be drawn at 110, After 1888 a similar sinking fund began for the 2d mortgage bonds. The 3d mortgage (see abstract V. 47, p. 22) has an accumulating siDk• mg fund to begin in 1894 equal to 1 % ot entire issue yearly for purchase of bonds at 105 p. c., or for their redemption at maturity, but no bonds to be drawn. The proceeds o! land sales are applied to redemption of the divisional bonds of 1879 at par, and in addition each issue has a sin king fund of 1 per cent yearly, bonds being drnwn at 100. (See abstract of Dul. & Man. Exten. mort., v . 45, p. 273.) The plan for an issue of $160,000,000 blanket mortgage was in the CHRONICLE V. 49, p. 373, and in December, 1889, stockholders were offered tbe privilege of subscribing for new consols at 85. Prices of preferred stock since '79 have been: In ·so, 3938@6712: in '81, 6418@8818; in '82, 66¾1zil003s; in '83, 49¾@9058; in '84, 3714@5758; in '85, 3fflg@6538; in '86, 53lg1z!6612; in '87, 4138'lb631sl; in '88, 4~~@ 64; in '89, 5819@78 71 ; in 1890, to Jan. 17, tnclusive, 73¾,@751sl. Common stock: In '80, 20@36; ln '81, 32~'0/51; in '82, 28¾@5438; in '83, 23181zi5318; in '84, 14dl27; in '8a, 15@3114; in '86, 22@3138; in '87, 20-W3,Ll!s: in '88, 197s@29~; in '89, 25@3638; in 1890, to Jan. 17, in· elusive, 30@31¾. LA.Nns.-The land grant of the compa!ly was 12,800 acres per mile in States and 25,600 acres per mile in territories, and the lands earned by construction to June 30, 1889, were estimated to be about 46,824,960 acres, of which about 39,720,011 remained unsold. The lands east of Bismarck (Minn. and Dak. Divs.) are pledged to the pre• ferred stock, and that stock is received in payment therefor. The general mortgage bonds cover all the other lands, thr divisional mortgagee having prior liens on their respective divisions In Feb., 1889, a contract with the Minnesota & Dakota Land Co.W's announced, the Land Co. t o purchase 1,650,000 acres east of Missouri River ·at $2 per acre and Nor. Pac. stockholders to have privilege of subscribing to the company's debentures at 95. For the fiscal year 1888·89 net land sales (less sales of previous years canceled) were 573,214 acres for $1,827,995. Total sales, including town lots, etc., were $2,217,645; net receipts for the year, $1,127,· 129. From July 1, 1889, to Nov. 30, 1889 (5 months), gross earnings were $11,053,990, against $9,139,418 in 1888; net, $5,187,331, against ,3,839,619. . 1!1.scal year ends June 30. Report for 1888·89 was m v. 49, p. 502, l508, 542, showing the following: 1888-89. 1886•87. 1887-88. 1885·86. 3,465 3,102 3,337 ~,808 Mileage June 30...• Earnings- $ $ $ $ 380,000 3,500,650 999,750 350,000 1,000,000 7,000,000 2,000,000 854,165 24,093,570 3,749,000 6,501,000 112,000 3,471,000 2,009,000 404 000 950,(J()() 517,000 2,000,000 2,380,000 2,100,000 2,420,000 1,470,000 11,966,800 1,692,000 3,600,000 200,000 498,000 2,750,000 400,000 1,912,000 .(1) J. S. M.& S. 8 6 ~. &O. A. & 0. 6 4 J. & J. J. & J. 7 5 g. Q.-J. 5 g. Q.-J. 5 A. & 0. ··:r J. ·&·n. J. & J. g. J. & J. A. & 0. M.&N. A. & 0. J. & J. A. & 0. g. J. & D. g. A. & 0. g. J. &D. g. M.& N, g. J. & J. J. & ,f , 3lg M.& 8. 7 Vario ts 6 4lg J. & JJ. 4lg A. & 0 . J. & J. 4 J. & J. 7 J ~ & J. 5 6 f!, M.&N. 7 6 7 7 6 6 5 5 5 6 4 5 Boston, 2d National Bk. Boston, N. E. Trust Co. Boston, Office. do do do N.Y., Corbin B'nk'g Co. Non•pref. b'ds in default October, 1888, lBs~ paid do do Jan. 6,189 March 1,-.1s97 Mar. 1, 1890f April 1, 192.QI April, 1920, April, 192~ Jan. 1 190() April 1, i9381 April 1, 1938' April 1, 193S N. Y., Union Trust Co. do do 'ondon. N. Y. Union Trust Co. 1111 do ?ll.Y.Kidder,Peab ',v&Co June· 'i932: Jan. 1, 1898' Jan. 1, 1898 April 1, 1911 Nov. 1, 1905 Oct. 1, 1897" July 1, 193~ April 1, 1926June 1, 1936April 1, 1937" June 1, ;1921. May 1, 1921 July 1, 193a" Jan. 1, 1890 March 1, 1894 1H95•6-7 D1c. 1, 1897' April 1, 1904 1904 & 1938July 1, 18941 ,Tan. 1, 1910Nov. 1, 1918· JD fl t,•l:t U ii. • N ouc l 1 :JIIJ. N. Y. < Htral 'J rust Co. do do 8, Y., < 01l>hd '. ank'gCo. do do · B os101~,0fflce. 00 do do do do do Boston, N. E. Trust Co. New York or London. ·i; -(V. 48, p. 37, 70, 222, UJ, :12 • , 0'1~, 428, 5:l7, 556, 59(), 689,.764., 800, 855; V. 49, p. 158, l n , :· CJ ' , ;.p.' 1. ;;73, 403, 404, 4 71, 5 02, 503 .. 508,540,542,654,718,761,857; v. 50, p . 37,) Northern Pacl:flc Terminal Co.-Owns terminal !a•iilities on, the Willamette River. OL"e~on, at Portland, East Portland and Albina.. comprising lands 270 acres, trackage 24 miles, buildings 39, doc}; frontage .,. ,904 feet. The" are leased for fifty years from Jan. 1, 1883,. jointly and severally to the Nor. Pac. RR., the Oregon Ry. & Nav. Co~ and the Oregon & Cal. RR., with a .1?11aranteed rental sufficient to pay interest, sinkin~ fund and taxfls. 'the sinking fund begins in 1893 an(!, is to be sufficient to retire the bonds by maturity, bonds bebi~ drawn at 110 and interest. '£he stock of $3,000,000 is ownE d by sa.ici three companies (40 per cent by Ore . Railway & Navigation Co., 40 p-er cent by Northern Pacific and 20 per cent by Oregon & Califo1 ma RR.),. and held by Central Trust Co. of New York, to be delivered 11,fter payments to the sinking fund which is to cancel the bonds. Norwich & Worcester.-Owns from Norwich, Conn., to W01:1-, cester, Mass., 59 n.iles; branch: Norwich to Allyn's Point, 7 miles: total, 66 miles. Leased to N. Y. &New England RR. !or 100 years frollll F eb . 1, 1869; rental is 8 per cent on preferred stock. Common stock is $6,600. In 1886·87 gross receipts, $781,979; net., $293,108; payments for rentals, $40,220; interest, $27,165; surplus over 8 per cent. dividends, $17,900. Ogdensburg & Lake Champlain.-Owns from Rouse's Point . N. Y., to Ogdensburg, N. Y., 118 miles. On June 1 1886, a p 0rpetu~ lease of this road was madt> to tbe Central Vermont RR. Co., the lessee, to pay interest on the bonds. Stock $3,077,000 (par, $100), of which a majority is owned by Central Vermont. '.l'he consol. 6s given in the table as outstanding includes the bonds. issued to replace the t!s, which are due March 1, 1890. In year ending March 31, 1888, gross earnings were $727,542; net, $235,412; surp. over int. charge, $15,519. In 1888-9, gross earnings,. $714,954; net, $241,097; surplus over charges, $5,479. (V. 47, p, 188;. 664; v. 4.8, p. 222; v. 49, p, 207, ti54, 826.) Ohio Indiana & Western.-Owns from Indianapolis, Ind., to Pekin, IJl., 20:t miles, and Indianapolis to Springtleld, Ohio, 142 miles. Leases, Pekin to Peoria, 9 Jillles. Total operated, 353 miles. (See mortgage abstracts, CHRONICLE, V. 47, p. 201.) Pref. stock is. $3,325,000. Common stock, $10,000,000. ·· 'l'he plan of absorpt.ion of this road into the C. C. Ch. & St. L. (Big Four► system provides for $ l0,000,000 new 4 per cent first mortgage o onds.,_ to be guaranteed, and $4,000,000 4 per cent mort. income bonds, ana. :h l0.000,000 new common stock,, and the old bonds and stock are to be. exchanp:ed as per statement in V. 49, p. 616. Decree of foreclosur& was entered Jan. 9, 1890, under which the road i s to be soln to consummate the agreement. In 1888 gross earnings were $1,495,315; net, $343,096; deficit under· fixed charges, $129,385.-(V. 47, p. 142, 147;188, 201, 383, 594, 803'• v. 48, p. 4~8; v. 49, p. 235,269,403,580,616,719,857; v. 50, p. 72 ..) Ohio & Mlsslsslppl.-This company owns a direct line from . Cilwinnati, Ohio, to East St, Louis, Ill., 3a8 miles ; Louisville branch North Vernon to Jeffersonville, Ind., 53 miles; the 8:P.ring:field Di~ sion, Beardstown to Shawneetown, Ill., 225 miles; New Al~ny & Eastern, Watson to New Albany, Ind., 7 miles; total, 623 miles. The Eastern and Western divisions were sold in foreclosure and the Ohio & Mississippi Co. formed by consolidation Nov. 21, 1867. · The terms of preferenre in the pref. stock certificates were given in th& SUPPLEMENT of May 25, 1889, and previous issues. · Of tne general mortgage of 1883 $12,251,000 is reserve-2 io exchange for old bonds as they mature. Cyrus O. l:lines. of Ind., and Union Trll8i. Co., of N. Y . are mortgage trustees. Range of stock prices since 18~2 has been as follows: Common -1D '83, 21@3684; in '84, 14l!s@25 7s; in '85, 1014@2818; in '86, 1938@35 lie; in '87, 2la3212; in '88, 1712@2618; in '89, 19¾@24~; in 1890, to Jan.. 17, inclusive, 2034@22. Pref.-in '83, 96@1121sl; in '134. 45@90; in '85, 71@78; in '86,79-w91; in '8 7,75@93; in '89 80 d!84; inl889,. 83½!@90: in 1890, to Jan. 17, inclusive, no sales. From July 1, 1889, to Nov. 30, 1889 (5. mos.) gross earns. were $1,896,902, against $1,727,344 in 1888; net, $69~,229, against $485~ 883. Fiscal year ends June 30; report for 1888-89 in V. 49, p. 502, INCOME ACCOUNT. 1885·86. 1886·87. 1837·88. 1888·8~ Gross earnings ..••• ;12,597,708 $2,650,480 $2,733,417 $2,935,361. Net earning6 .••..••. $1,074,212 $1,337,953 $1,244,142 $1,019,804. 5,824,163 3,269,703 4,577,898 2,e97,218 Pa.ssenger • • • . . ••... 8,189,614 8,730,547 10,426,244 12,877,838 J'reight .......... : .. . 1,005,467 842,186 643,695 789,197 Mail, exprel!s, &c ..• Total .......... .. 11,730,527 12,789,447° 15,84(1,328 19,707,408 7,173,020 9,266,884 12,18;j,944 6,156,26'1 Operating expenses 5,574,:.!6::S 5,tilo,427 ~579,444 7,521,524 Net earnings .••..••. :>6·09 58 48 61 ·83 52·48 Per ct. exp. to earn's INCOME ACCOUNT. 1887-88 . 1888·89. 1885-86. 1886·87 $ $ $ $ Receipts6,579,444 7,521,524 5,574,263 5,616,427 Net earnings .••..••• 532,325 548,537 315,835 · 474,366 From in vestm'ts, &o. Disbursements8,05::S,849 lnterest on debt ..... $1,026,415 $1,024,716 $1,042,530 $1,047,671 6,090,793 7,1~7,981 5,890,0~8 Total .••..•••.••• 65,000 53.000 57,000 61,000 Sinking fund ..•..••. $ $ $ $ Disbursements2:),931 "80,377 4,917,833 Miscellaneous ....... . 4,703,955 4,456,536 4,339,094 nterest on bonds ... 1,159,263 752,757 . 782,359 670,748 Rentals .••..••..••... Total............ $1,079,415 $1,081,716 $1,133,461 $1,193,048 1,060,738 881,072 696,650 673,650 Guarantees .••..••.. 343,309 Balance......... . • • . def.$5,203sur.$256,237sur.$110,681 df.$173,244224,095 112,698 55,633 Sinking funds ....••. 91,228 17,813 6,445 39,774 Miscellaneous ••••.. * Includes ~50,500 to equipment trust. Total·····-·· ..•. 5,778,899 6,025,006 6,ti09/.:!94 7,572,a71 481,478 -(V. 48, p. 372, 800,828,855; V. 49, p, 300, 403, 471, 502-, 654, 761.), 518.687 111,199 65,707 Bala.noe, surplus •••• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis n, . , J:>:r-o!a i ;,/ MAP OF THE · NORTHERN PACIFI 't-'·\, RAILROAD, 1, ' ,,. :ITS BBAiNCHES & ...J.LLIED LINES.,. ~ . t- ' _ Ballrcxuh proJe««t or ill !JWO!J"l!IU C II uc : >., ~ JANUARY, 1890.] RAILROAD STOOKS Al;D BONDS. 107 8 a b tterlben ~ l l cont'er a great favor by giving Immediate notice or any error dl8covered In thetie Table 111 • DESORfPTTON. INTEREST OR DTVTHENDS. Bonds-PJ1no;... - - - - - - - - - - - - - - - - - - - - - - , M i l e s Date Size,or Am t ------,------,-----------1pal,WhenDue •. of of Par Outst~~g Rate per When Where Payable, and by Htoclcs- Last on ftrst page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. For explanation of column beadings, &o., see notes Omoha «I Rermblir.an Valley-lilt mortgage .••••••. Const1l. mort. ($10,000per mile)................... Ge r, . M. (1 Et on exts.) $20,f,00 p.m.,lncl.prior 1iens o»,aha ,t St. Lmti~-lst M., gold .••..•...•........ c* Orange Bett-lstM.. g.,$5,000p.m .•red.art.1891 o*&r Oreg,m ~ Oal.-lst M.,g ($30.00 ,1p.m.ldr'n at 100.c· Oregon Pac.-lst M., 1. gr., s. f.,fl, $.m,OOO p. n::..o•&r Oregon R«.ihcay cl Namgatimi--Stock.. .•.... .•..••. 1st mort. ~onds, p:old. sink. fd. (drawn at 100) .. o - - - - - - - - - I · - - - - - - - - - ·---1----------'-•1-- - - - - - 470 4 70 14'> 153 475 .... 819 819 ~19 1,457 610 Consol. mortirage, goM, $25,000 per mile ..•.. c&1· O,-,,{lor~ Shnrt Line cf Utah ,, orthern-Stook ... •..••. Oresmn Short Line 1st M., g., int, guar. by U. P,c• Utah So. let mort. cur.. ........................... . Utah So. mort.. S. Lake to Juab (f'>r $1,950,000) .. o !.._0038 TTtah flo11th. Exten., 1st .M., Jnab to Frisco . .•... o Utah & Nor.-lst mortgage, $12,000 per mile .. c• 4 ~2 Cons. M. guar., $15,0oO p m., s. f., not dr'n, gc* 4 v 6 E'1t1ipment bond ~ (1-lOth payable yearly)...... . ••. Httho Ueutral 1st M ....... ... .. ........ . ....... .. c* 19 c, .nsol. M. (l~t on 1..43 mile,-) ~old, red. at 105.u* 1,457 Colla1e1·al uu~t .•••••... .......•.... . ..........•. c• .... Oregoncl Trans•Oont.-l'r. b'ds,Jl'.,(s. r.dt·'n at 105.o* 497 0.IDego cl .Rome-let M. $325,(!00 guaranteed...... 2i.½ Income morumg-e born1R........................ •. . 23½ Convertible bonds, 1.000 years to run .. •••••••••• • . • . 35 OftCego tt Syracuse-Stocx, 9 p. ct. e:uar., D. L. & W . Consol. mortg-age (p:uar. D. L. & W.).... . .. ....••. • ••• Construction M., ,sniar. prin. & int. <for $1,000,000) 35 Otct-naborn tt Nashmlle-lst mortgage, gold ..••... c* 88 Pacific Short Lille-1st mortgage.................. . .•. .l'a,iama-Btock........ . • • .. . . . • . . • • . . . • . . . . . . • . . • • . 4.8 Gen. mort., sterl'g ................................. c• 4.8 Sinking fund subsidy mort. p;ohl, drawn a.t.1 oo.c• 48 issi iss1 1887 1887 1880 i879 1885 1882 1~71 1879 1879 1878 18 ~6 18~7 1887 181-'9 1889 1882 1865 1866 1866 i876 188:i 1881 1867 1880 ,1:000 1,000 1,001.) 1.000 100 1,000 1,000 1:c,00 1:000 1.000 1,000 1.000 1,000 J,000 l,U0l) 1,000 1,000 1 ,000 1,000 50 1,000 1,000 1,000 'ioo £200 1.000 $1,638.000 . 3 ,0:'>7,000 l,'246,000 2,717,000 700,00U 14,254,000 (1) 24,000,000 5,371,000 12,434,000 24,'i 8}1, 039 14,9-H,OOO 424,000 1,5:W.000 1,950,000 4,995,000 1,8~9,0110 281.000 1<15,0UO '2.091.000 7.741 000 9 ,554,000 350,01.)0 152,000 107,000 1,320,400 438.000 668,000 2,000,000 (i) 7,0UIJ,000 2,9:3::1,000 2.4q~.ooo 7 5 5 4 g. 5 f!· 5 g. 6 g, 112 6 g. 5 g. ..6.g. 7 7 7 7 5 g. 5 G r, g. 5 6 g. 7 7 7 ' 4¼ 7 5 6 g. J. & J. Bost(l:n, Union Pacific. M. & 8. rlo do M. & N. do do J. & J N. -Y., U. 8. Trust Co. J. & J, C:uup., July,'88, last pd. ,J. & J. N . Y., South. Pacitlc Co, A. & 0 . N.Y.,4.5Will'u St.&Lon. Q.-J. N. Y. Office, Mills Bldg. J. & J. do do . J. & D. do d() F. ·&· A. J. & J. .,, & J. & J. & ,J. & A. & J. & A. & M. & M. & U. & F. & F. & i,~. & 1\-1. & :\1. & M. J. J. J. J. o. J. 0. 8 N. N. A. A. A. . N. N. N.Y.,Un.Tr.Co.& Bost'n do do do do do do do do do do do do ifo do New York"and Roston. do • do N.Y.,:Farmers'L.& ·r.co. N. Y., Central Trust Co• do do N. Y. Offi ce, 96 B'dWa\'. N. Y.,Del., L. & W . .RR. no do N.Y. ,Fa.rmers.L.&T.Co New YorJr. July 1, Wll9l · Mar. 1, 1 P27' May 1, 19~7 Jan. 1, 1~37" Jan. 1, 1907 July 1, 1,-.21' Oct. 1, rnoi> Jan. 2, 1e~ 0 July 1.J 190~ June .1, 1925 Feb:·1;·i922 July 1, lt:91 July 1, 1909 July 1, ]909 July 1, 190~ July l, l l-' 26 Apr. l, yi>arl'J Jan. 1, 1917 Aprll l, 1919 Sept. 1, 191 {) Nov. 1, 192~ M'.a.v 1, 19 15' Aug., 1891 · 28~6 Feb. 1890 1907 May, 1923 Nov. l, 1931 ·si: ..4. :::: N. Y., Offioe. 15 Broad. July 1~89 7 g. A. & O . N.Y., 15 Bruarl & Lond. Oct. 1, 189 ' 6 :;r. !\f . , N . r-z . Y .. ()lt!N', 1"' Rrnn.il . Nov. l. ,~ 10 Ohio & Northurestern. -Ro:i.d from Cincinnati, 0., to Ports m, utb, 0., 103 miles, and. branches, 26 mites. T11e Oin. & E astern. sold In fort·closure Jim. 5, 18.,7, wa1 p urchasPd by this c,ompauy and cban1rtd to standard ga1:ge.-V. 44, p. 59. Stock hsued, $2 000,0uo. ln June. 18R8, 8amuel Hout was, appoin ced receiver, and in uctoher au Issue 01· $ 2~5. 000 6 per oe1, t receive1 's cnt1flcates wa'I autboriz• d . In Jan, 1Hl9, the Investment Cu. of Ph1ladelt>hla ontalned a majority or the bond8. (V. 4.5, p. 673; V. 46, p. 803; V. 47, p. 227; V. 48. p. 3::l, 68.) Ohio Rlver.-Owns Wheeling, West va., to Point Pleas.:1.nt, West va., 168 m., antl Huntingdon, w est Va., 4.0 m.; total, 209 m. The stock outstondmg is $5,874,400; par $1 oo. From Jan. 1 to Nov. 30, 1889 ( 11 mos.). groes earnings were $539,841, 8{< h,ISL $125,466in 1888; net. $266,759, a~ains t $187,784. In 18t:8, ~roi-s earnlnjr~, $471,805; n et. $W0.271; interest, $196,818; 81ll1'lus, $~,4.53. Geo. W. Thompson, President, Parkersburg, W. Va. Ohio Sonthern.-Length of road r~mpleted, Springfield, Ol1io, to Wellston, with extensions ..nd branches, .L40m. Stock (par $100); Ruth orizf'n, $5,500,000; outstanding. $3,8!0,000. Gen. ruo ,·t. of 1839 1Trns• tee, Central Tr. Co. l is to retirtJ the incomes and the oar trusts or $;j44,· ooo. (See V. 49, p. 207, 5@0.) Gross earn's tn 188~, $5ti6,::l-14, net, $·l35.715; tmrp. ove>r int., $1U3.9 :i4. Alfred Sully, Pres. (V. 48,p. 855; V. 4.9, J). 83. ~07, 235,341,580, 857; V. 50, p. 72.) Ohio Valley.-Completed from Evansville, Ky., to Princeton on the Cbes. Obio & Southwesttrn, 99 m.; brancbeij, 9 m.; total, lt>8 m . To be e:itten'1Pd !o Nashville, Tnct. Charter provides for sink'g fund iutllcieot to redeem l1onds at mat.u rity; no dra'\'\'ings. Or tbe ol1l ti1 sts 01Jly $ lUO.tiOO a.re outst11ncting. The i;to~k is $1,960,000. P. G. Kelsey, Pres., Htn. derson, Ky. (V 4.6. p. 191.) Ohl Oolony (1'.laH.)--Owns from Boi,ton to Prov1Dcetown, Mass. 120 ILiles, lines to Kingston, Plymouth, Somerset Junction, New Hcd· ford, Lowell and Fitchburg, Mass .. · and to Newport, R. I., 24 ~ miles, and numerous branches 101 miles in all; total owned. 470 miles; leases-Fall River Rallroaa, 12 miles; Na.ntaskt-t Beach RR., 7 mlle11: B :>~ton & Prov. RR., Boston to Providenci>,44miles,anrt hranclles 27 mile@; total owned and leased, 564 mtles. In 1 88"1 a lease or Bost<'n & Pro,· idence Road was made for 99 years. There are 11 Iso $5fl,0011 5li due .April 1. 1891, interei,t .A. & O. .An inrrease of stotk from $12.000.000 to $15,0UO,OOO, and thR issue of $1,000,0UO bouds. were au1 horizel b.v Etoolhvlders in Novnnber, 1889. to pay for new connections, etc. · DivideIJd!l since '76 bave hrnn: In '77 and' 78, 6 p. c.; in '79, ni.; in '80 anrt '8 1, ti; in '82,619; from '8::J to date, at the rate of 7 i,er cent yearly. End of fiR<·al year cban~ed in Novt-mber, 1889, from Si>pt. 30 to June 30. Report for year ending Sept. 30, 18b9, was in V. 4.9, p. 652, show• ing 1he Idlowing: INCOME ACCOUNT. Oregon&; Callforn.~.a.-.f.. -:>m Portland, Or., to vat. State llne, 36"> -nlles; Albany J uuctiou to Lebanon. 12 milf\R: West 8ide Division, Porttann to Corvallis, 97 miles. Tota1, 475 miles. or tbe ol<I bonrls $ !06,00,, arr1 yet out, and the balance of $8,199.000 di>po11ltetl with trustee as collauwal rot· the new boncts. but subject to cancellation. The laud /;tTaut was about 4,000,000 acreR, and is covered by the mort• gage. proceeds of land 11ales going to r i>dei>m bonds <lrawn at par, unless p11rchttral1le low~r. 'l'rneitee of mmt~age. Uuion Trust Co., N. Y. The plau of a}.{reem1mt for reor_ff;tlllza.tion was reported In thfl CHRC'N· ICLE, V. 4-4, p . 11.:.<, 370. The roaa 1s lt,ased to tbe South. Pac. Co. for 4·> :veal? from Jan. 1. '8 7 , the .lessee guarameeinicinterest on the bonds. The Pac:ifl.c Iwprovement Co. owns the bulk of 0. & 0. stock. (V. 48, p. 82d.) l)t'e~on Paclfi.c.-(See Map.)-Road inpro!Zress an 136mile.,,, fru ,u Yaquiua un Yaqlliua Ray, to r:ear summit or cascade Mountams, com• pleted and in uyern,tion 30 miles more are 1ioished, and 40 miles a.re ready for the rails; the whole lme will be ahout 600 miles from Ya.quina B11y to t he eastern houodary of 0 1·el(on, where connection will be made w1thuther· roads. OvH 950,000 acirei areoov!!fed by 1st m ·J rt., a.lso the equipruent; tile whole wore. on 600 m. will be $15,000.000 at ~25.ooo perm. A sinking fund of$30,UOOperye..crpurcoa11es bonus at not ab :>v.e 105, t-ut 11one are drnwn. !<'arm ers' Loan di '.l'rust Co., tr ustet of tile mort. See ahrstraet nt sawe m V. 4.9, p. 240. Stock iR $30.000 perm. Company own1>th1·eesteamhnatson W11la.metteRiver. T. E. Hoga.Pres.; N.8. tH•n li ley, Treas., 45 William St., New York. (V', 47, p. 218; V. 48, p. 452, ~62. nregon Railway &; Navigatlon.-Owna Port!all<l, Ori>gon to Wallula., w. T .. 211 w .• and val'ious otber mi!Pa,!<e. maki11,r total owned, 5 ">7 m. ai.d iea es 262 m1lee; total operated Jillie 30, 1889, 819 miles, Ocean line between San Francisco and Portlana, 670 miles. 'fhere is a ~inking tund or $60.000 per ytar. plus interest on bond l cance!ed for· 1-ink fnnd l •nakin~ :ii.96,88 1 in a 'l in year 1988·89) for til8 bond" is1:,u ... d in 1879, to buy bonds a.t or he ow 110, or else draw the111 at. var on J an. 1, bond~ , 0 paid bein!l canc eled. T;.ie Farmers' Loan & Trust <.:o. 18 trm:tee of both mortgages. lu .Aoril .. 1887, a, lea~e for 9~ years from Jan. 1, 18e7, to the Oregon Short Lioe RI:{., gnara.nteed. by Union Pacific. was made on the basis of 6 per ci>nt per annum on the o. R . & N. Co.'s stook (see abstract of 1... 11 se. v. 45. p. 53;1 ); and in 1 889 tbe o. s. L. Co. purchases the s1 ock held bv the o. r. en and control<i the o. R. & N. ~totk. tr3ee V. 4.9, p. 857.i Dsvicleu ds sin<'e 1876 h,ve hf'l'n: In lti7:J, ~percent; in 1881J, 8 a nd 10 s<'fil); in 181:ll a1,d lt-82, ~; in 1g,:-l, 10; in 1884. tPg; jn 1885, 419_;_ in 1886, 7: tu 18!:!7 1.md lb88, 6; In 18S9, 7; Jan. 2, 189,J, 1¼, . From January 1 to Nov. 30 in 1H8!l (11 months), ,rross earnings were $5,fl34,">64, agst. $5,854,2h2 in 18~R; net, $l,o55.~50,agst. $2,23:-J,2" !7. - (V. 48, p. 37,261,327,527, 764., 828; v. 49, p. 23,403,434,471,857; 1885·86 1886•87 1887•88 1888·89. 4 "' 2 -::,$032 4 86f 571 6 32f 628 ~ 312 7 ' 726 ,.., :., ' ' ' ' ' · 1,302,~29 1,332,576 1,684,961 1,995,036 89,931 95,215 94.090 132,766 1,39:t,860 1,4~7,7::tl 1,77~,uol 2,127,802 Dislntrsements$ $ $ $ Rentals paia .••. .••. 32,694 16,184 26fi,559 560,~0:'i Interest on debt..... 582,53 l 597,897 636,368 672,183 Dividends <7 p. c.)... 761,747 788,616 80~.763 830,655 Improvem'ta.ccount. 15,885 25,144 74,3Hl 64.01::J 7 7"1 7 1 1 80 Tofnldishurse'ts l.a~28tiO 1,4:t'., J,7 U,05 :.l, 27, 2 -(V. 47, p. 529, 664.; V, 4.8, P• l59; V. 4 9, p. 402 , 58 0, 65 2 -) Omaha Dodge City & Southern.-Proje.:ted from Superior, Neb., rnuthwesterlyacross K1rnsas to Colorarto State line,3fiOmiles, with branches. 24.0 miles-30 miles a.re in operation south of Dodge City. Mortjrai;:e is for $12,000,000; trustee, Me1rop. Trust Co. Stock author• izf d, $12,000,000; par. $100. Pres., Geo. M. Hoover, Dodge City, Kan. -(Vol. 47, p. 709; V. 48, P• 222. 462.) u maha & Hepnblfcan Va]ley.-Owns Valley, Neb .. to Manhattan. Kan., 189 miles, and branch to l:ltromsburg, Neb., 53 mile!!. Gran1 Island, Neb., to Ord, Loup City and Scotia., Neb., 101 miles: Oconee to Cedar Rupids and Albion, Neb., 85 miles; other lines. 42 mil ... s; total, 470 milts. MoH of the bonds of this company are owned by Union Pa• ctllc, which O'\'\'ns a.leo $2,327,524 of the $2,347,050 i-took.,rnd opera•es the road as part or its systt-m prope!'. For the amount of above bund~ deposited os fe ·uritr for the Union Pacific collaten1l trust", see that comJ·any. In 1888 gross earniugs were $ll88,>:-22; dt-flcir. unrter operatDJZ ex1 •t-nSfS and taxes. $8l,7i3; deficit under cbarµeQ, $112,446. o m a b a & St. L ou 111.-own s road from Council J:slu1l"s, Ia , to Pattons• b urg, Mo., 144 ruiles. '.l'iliscompanywasformedin 1887 al' suc<'eesortothe Omaha Div. of the St. L. K. c. & Nor. (Wabash), sold in fort-olosui-e. Pref. 6 p. t'. stock, non•cumulative, $2,220,bOO; com. stock, $2,313,000, deposited in trust for three years; par both, $100. Bet1 ab!ltra<'t or mortµ-age. V. 45. p . 213: rnll st<>tt!mPnt in V. 44, ll• 81~. Jan. 1 to .Tune 30 (6 moF.), g101-1:1 earnings were $221.349 in 1889. »gain~t 11-1~3,532; net, $ti J ,79~, a,rllin~t $L4 ,44 l. Jn year ending May 31. l R -~. groRs earnin llS Wt'J'e :H~5,g40; ni>t. $104,bfi5. In 1888·!-I g10,s, $!48,h05; net. $112,319. Otlke, 45 Wall t:!t .. N. Y. (V. 49, 11, 503.l Oru11~e Belt.-1'"'1om 8m1f111d, Fla., to St. P.-ters11ur~, lf\!'.J m 1leR. Tbt- l,ouds al'e v•:.!l ·s. and m><y be r dde ... med after Jan., l8~t. Tuey are guaraiJte,-d bytbe Orange. Br-It Investment Co. The Jan .. 18ri0. cuupon was 1•m·chasetl by H. O . .Arwour· & C'o., New York. C111upany reorJca.n• ized Apiil, l8t:O. E.T. ttotetbu·y, Ph:!a, Presl<tent. (V. 4ti, p . 24.5.) v::~:~~o~hort Line & Utah Nortllern.-Owm road from Grang, r, Wy,nuing, w Humingtou, Oregon, 54.2 m.; bra.ooh Shoshon e to Ketchum, Idaho, 70 m1les; Ogden, Utah, to Gar.r1son, Mont,.1,na, an<t branch 8itver Bow, Montana, to end of tratk north of Butte City, 467 miles; Ogden, Utah, to Frisco, 275 miles; sundry branches, 125 mjles; total, 1,457 miles, of which 58 mil es. Silver Bow to Butte and Garrison,. Montana, tire leai-ed to tile Montana Union. · This wa.s a conHoli<latiun voted July 17, 1889, of the Oregon Short Vne, the Uta.h & Northern, the Ucah t. entral, tile Salt Lake & Western, t he Utah & Nevada, the Ogden & Syracu,e, the Idaho Central and the Nevada. Pacific railways. titock authorized. ~24,789,0?9. The Union Pacitto controls the company by ownership of a maJorlty ofthestoekoutstanoing. Jnterestonthebondsisgua.ranteedbythe Union Pacifif'. l'he Oregon Short Line pr vious -i;o consolidation hodleased the Oregon Railway & Navigation Compa.oy's lines for 99 years from January 1, 1887, agreeingtopaythelnrere!lton bonds and 6 per cent on stock; the lease is guaranteed by Union Pacifi<', 'l'he c:ousul. morli. o.ue HH9 (Trustee, Am. Loan & Trust Co.),18 a firs• lien on 14.3 miles aod a second on 1,314 miles. Bu.tllci.-nt bonds are re-• served. to rotil e prior bonds when due , and thP total i~sne on the road in 01 ,eration is not 10 exceed, includm~ ptlor liens, $ :25,000 per mile. RondJ ruay be i~sned for f'IXten&ions at $2:"i,, oo per mile (unless & majority of the bondholders object,, and additiona! amounts for termin::il-l and BP.cond track, hm not bX:Ceeding in the aggregate $35,000 per mile or double track. Tht3 i,,sue jg redeemaole 1but ouly as a whole) on any coupon dav at 10.'j and interest. There will be a ~ink1ng fund wb"n e •rnings mffice, but 1'or tl.Jis no bunds can be rtrawn. The Union Paciflo guar»nt..-es interest on this i:-1Rue unner a tratlio ag1 eement:. From jan. 1 to sov. 30 Jn 1889 (11 mos.) µross e.irninll'B were $5,958,· 939, agst. $5,l!-5,b69 in 1888; net. $2,668,0ll4. agst. $2,180,3135. . 'l' lle gross earnings of the i.everal companies aggregated $5,702,795 in le88; uet, $2..!'iltJ.272; surplus ove1· charges, $364,906. (V. 4 7, p. 2-;.7; v. 48, p. 3~7, 590,800,829; v. 4.9, p. 17 , 'i5G, 719,789, 826.) .Recetpta- Gross earn1ngs...... N t>t earnings . ....... Other receipts..... .. Total Income..... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Oregon & Trans•ContlnentaJ . -Com11any on~a, ·. ed under th laws of Oregon on June 27, 1881. The assets Nov.1,'8!l,inl'luded$6,(l03,C101lof N.Pao. prt'f. and$13,91!'>,100 of N. Pac. com. St>e V. 4!J, 11. 719, fur Mr. Villard's 81 ate menu. 'FllP unf1mded flehtwas$7,3fi5,t ·Ou,,rndcashan, c::ishassets it-10,798.830. The ~tod1.lloldt-r,. Yoted ,,n Nov. 5, lb~ 9, tLat tbe i.tock should I e 1·Fd11cen to ub11ut $3t','H.1 0,1 00, au d also autilorizin;r tile d1rector11 tu Jiquinnte the tornl'any a11d d1,-trilmte tJ ,e pro<'N·d 11 am?n~ stockholder,. 1 111:1.Jliortlwrn Pac tic will reli1e the bonds at 105 iincl interet.t, S toos: outstanding is $40,0oll,OOO. Tbe bonds a.re_ sel',ire,t . by d .-11osit in trust of :first mortsa.;;o bonds on b1a.ncb railroads aG https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~-- Q Strawberry ifotte ,j~ a ,.0 M Cinna.1> r.r.JJ N --r--·- A ,.r,11,i"! 0 :j :, Natio al , Yell Par : ver cfu-01r------l i I 0 !IL W' 1\eT 00 z0A co zA ~ r:n ~ 0 0 ~ r:n ~0 ~ -~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE PACIFIC SHORT LINE RAILWAY. COMPRISING THE NEBRASKA & WESTERN RAILROAD WYOMING & EASTERN RAILROAD SALT LAKE VALLEY & EASTERN RAILROAD https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis /, O Hazard \ ./ l'ocabontat.: v l'o1t~atc"h o _,./ ,/ V Salt Spr. MAP OF THE PENNSYLVANIA R.R. AND ITS CONNECTIONS. JANUARY, 1890.] RAILROAD STOCKS ,AND BONDS. Ill S•b•c:rlber• will conCer a great Cavor by ,riving Immediate notice or any error dl•covered In the•e Table•. Bond.-Prlnc,1DESCRIPTION. INTEREST OR DIVIDEND. Miles Date Size, or pal,When Due. Amount of For explanation of. column headings, &c., see notes of Par Stock6-Last Rate r,er When Where P-Wiable, and by Road. Bonds Value. Outstanding Cen . Payable on first page of tables. hom. Dividend.. -- -.-...· - -$50- 15 Pater.on tf Hud.-Stk., 8 p.c. perp. rent.N.Y.L.E.&W. Pen~lmnia----Btook ................. ........ ...... .. 2,370 Gtlr.. :M., $ & £,coup.int. J. & J.; reg. A. & 0 .... 455 State lien ($230,000 paid semi-annnally) .••...•.. ()on.sol M., s. f. not drawn ..••.. ·-··-······ · ·-· .•. Con8ol. mort., coupon int M.&: 8., reg. Q.-M., gold Bonde, (P.W. & B. stock as collat.) s. t. not dr'n .. r iiii Collateral trust loan, gold, (s. f. ½ p.c.) not dr'n.c• Penn. Car Trust (in series payable 110th yearly) .. Equip. Tr.(ser. "A.'' to"H," payable one-tenth y'rly . Equip. Trust ~old loan b'ds (8. f . 5 %) not dr'n g.ok Navy Yard bonds (extended 20 years in '81J ••.. r Pemu,K}-oania Oomltw:t/:.tock .• _.. .... • • • _....... 2,864 Bon · s, sec. by P. . .&C. stock (s.f.,dr'n at 100.r Bonds, g., eeo. bypl'ge and guar. (s.f.notdr1o*&r PennsylTJania <I New York-lat M., end. by Le .V c* let mort., endorsed lly Lehigh Val ..•..••... _. . o• H)!j General M. $10,000,000guar. prin. & int. (end.\.r 105 Penn.<IN. W.-.BellsG&J.)lstM.,BellsMiUstoLloydstJ* 8 26 Extension 1st mortgage .. ...••..•••..•...•...•. c* 26 Consol. M. (for $550,000) s. f., not drawn ...• . c· Clearfl.dd &Jefferson-1st m., guaranteee1 ...••• c• 37 73 Penn. P()1.l,gh. cl Bost.-lst M., g., for ($1,500,000)o* Penn.SchuylkillVal.-latM.,aink.fd.lp.e.(notdr'u).T 117 Ptn11acola cl A tlanlic1st m., gold (s.f. dr'n at 110), guar. by L. & N. c• 160 2d mort. (2d on lands).·-··-····-· · .• •.. .... •••. . o~ 160 I.and grant bonds·-························ · · .... 4.7 Peoria di.Bureau Val.-Stk., Sp. ct.rent'lC.R.I.&P. 254 Pwria Decatur cl Evansville-Stock .. _•..... _..••••. 1 at mort., gold (Peoria Div., Pekin to Mattoon) ... 110 lat m01·11.a1e (Bvansv. Div.), gold . ••. ·-· ········· 135 P. D. & . d mortgage, gold ....... --. ····-···c+ 238 455 .... .... --· io5 i867 1873 1873 1879 1881 1883 1881-4 1886-9 1889 1876 is11 1881 1866 1866 1888 1873 1875 1883 188ti 1889 1885 1881 1888 1884 ·--isso 1880 1886 $630,000 50 113,488,600 1,000 19,997,810 829,416 1:000 27,482,930 1,000 4.,998,000 1,000 8,0g!J,000 1,000 9,900.000 l.000 3, 300,000 1,000 7,200,000 1,000 3,000,000 5,000 1,000,000 50 20,000,000 1,000 1,714,000 1,000 17,5CO,OOO 1,000 1,500,000 1,000 1,500,000 1,000 7,000,000' 500 250,000 l,lOO 100,000 50u&c. 183,500 500&c. 1,000,000 1,000 1,000,000 .... 6,000,000 1,000 1,000 1,000 100 1:000 1,000 1,000 3,000,000 360,000 925,000 1,500,000 8,380,000 1,287,000 1,470 ,000 2,088,000 ·---- J. & J. M.&N. Various A.. & o. Various Var:ous J. & J. J. & D. irt'rly .-F. M. & 8 . J. & J. New York. Philadelphia, Office. Phil. Office: & London. Philadelphia, Ottrce. Phil. Office: & London. Philadelphia, Office. Phil.Penn.lJo.for Ins.&:o Phil.Provident L.&TCo. Phila., Prov. L. & Tr.Co Pbila., S. Dep. & In. Co. Phila ,Gir'dLife.&:c.,Co. .Phil.,Pa., Co.,forins.&o. .... Pittsb1figh, Co.'s Office. 6 Q.-J. Phila. r. B. D. & I. Co. 41sg. J. & J. N. Y., Nat. City Bank. 7 .J. & D. Philadf'k N. ~erioa. 7 J. & D. 4 &: 5 A.& 0 . Phil , Lehigh Valley RR 7 J. & J. Phila., 105 8. 4th Street. F. &A 6 do do .A.. &O. Phil. Guarantre Tr. Co. 6 6 J. & J. Phil.,Guar. Tr.& B.D.Co. g. J. & J. 1'1. Y.,Hol.Tr.Co.& Phila. J. & D. Philadelphla, Penn. RR. 4 219 6 6 6 5 g. 4. 419g. 5 4 4 g. 5 " g 6 g. 6 6 4 ..6.g. 6 g. 5 g. --- Jan . 2, 1890 Nov.30.1889 July 1, 1910 July l, 1890 June 11>, 1906 Dec. 1, 1919 July 1, 1921 June 1, 1918 1890 to J 894.. 1890 to 1899 Sept. 1, 1914. Jan. 1, 190l Forl883 July 5, 190'7 July 1, 1921 June 1, 1896 June 1, 1906 April l, 1939 July 1, 1893Aug. 1, 1905 April 1, 1913 Jan. 1, 1927 Jan. 1, 1939 D eo. 1, 1935 F. &A. N. Y., 50 Exchange Pl. Aug. 1, 1921 F. & A.. do do Feb. 1,1928 A.& O. do do Apl'il l, 1894. F. &A. N. Y., Chio., R. I. & P&c. Feb., 1886 J ..&.. J. N. Y., Central Tr. Co. Jan ... ·ii20 M.& 8. do do Sept. 1, 1920 M.&N. do do Nov. 1, 1926 i: $20,000 per mile. The roads thus mortgaged are shown under Northern J The Equipment Tr11st bon.is or Lq89 have a. slnll:ing t'und of 5 ner cent Paoifl.o. (V. 47, p. 626, 6'JO, 7 !5; V. 48, p. 292, 663, 683, 693,730, 823; yearly, and ir bonds can:iot oe hought at par the sum is to be foveate<\ V.49, p. 236, 301, 616, 719.) in n ew equipment to be su '-ij eot to the Trust. 011wego & Kome.-Owns from Richland, N. Y., to Oswego, N. Y., OPERATIONS, FINANCES. &c. --The total cost to the Penn~ylvauJa, R&U . 29 miles. Road opened Jan. 1, 1886. It is leased to the Rome Water- road Co. of the stocks and bonds of other companies he.\d m its treasury town & Ogdensburg RR.; ann11al rental is 7 per cent on $325,000 ":as, ~P to Dec. 31, 1888, $109,296,039 (par value o! tihe same $143,lst mortgage bonds and $18,260 in ca.sh; total, $U,Olo. Of bonds due 6 , 3 .4., 1) 1 most of which ls. represented on the other side of the.bala,nco 1870 $62,100 are yet outstanding. Stock is, common, $221'>,000, pre sheet by 1Ssues of Penn. Railroad stock and bonds and other debit items; ferred $75 000· par $100. the balance to credit o~ '.' profit and loss" was $19,229,368. ' ' ' ' ,. Its gua.ranteed securities are oougb.t up by the Penna. RR. Co, with 011wego & Syr_acuse. -O~s from Oswego, N.Y., to8yra~m1~, N.Y., l per cent of r,he net int>otne yearly. and !tl6,069,950 so purchased were S5 miles. Leased m 1868 durmg length of ohartt r and renewal there- beld on J a n. l , 188 9. The sinking f11nd for consols Jan. 1, 1889, held: of to the Delaware Lack. & West. RR. Co. for 9 per cent per year on Consols, $1,769,070; real estate morts., $1,247,\J OO; ca.sh, $110,646. fl,320,400 stock and interest on bonds. (Vol. 46 , p. l 7 Z.) From Jan. 1 to Nov.30, 1889 (11 mo!>.), gross earnings on lines ea&t ot Owensboro & Nasnv1lle.- Owns from Owensboro, Ky., to Adair- Ptttsburg and Erie were $56,019,180, aµ-aim1t $53,363,995 In 1e88; net, ville, Ky., 84 miles; Mud River Branch, 4 miles. Operated by Louisv. $18,753,401, against $17,615,078 in 1888. Surplus on lines west of Pitts• &Nashv.RR.,which owns $963,400 of the $1,156,518 stock, andha.s burgandErie,$921,l24inl8d9,againstdefl.citof$150,434in1888. $1,200,000 ot' the let mort bonds in pledge for its 5 per ot. trust bonds. The report for 1888 was 1n the CHRONICLE, v. 48, pp. 309, 323, 328. Gross earnings in 1887 8tl, $219,327; net, $L03,05 '.l; surplus over A. summary of the total business of 1888, compared with previous charges, $30,664. years, is shown in the followinp: : Pacific Short Llne.-(See Map.J-The Wyoming Pacific Improve· IDA,NINGS ON A.LL LINES BOTH EAST A.ND WEST OF PITTSBVRG tt EBIJI . ment Co., having a capital stock of $3,000,000, is pushing this t-nter18E6. 1887. 1888. prise, and e.xpects to have a through lire from Sioux City to Ogden, a distance of 960 miles <·ontruoted within two years. A contra.ct has Gross earnings._ •• ••••...••. $101,69r, ,981 $115,315,506 $116,509,293 Opera.ting expenses......... 67,102,714. 77.2.38,082 80,737,338 bt en let for the construction of LOO miles west from Sioux City, to be completed Oct. 1, and another contract fer the construction of 110 Net earnings .••...•• , .... $34,595,267 $38,277,424 $35,771,957 miles on the -we~tern end from Ogden to tbe Wyoming line. The road The income account below embraces all receipts and expenses of the is being tullt under three corporate titles, viz, the Nebraska. & West- Pennsylvania. Railroad proper, but not including the roads west of Pittsern, extending from tbe Misr our! River westerly to the Wyomi.ng line, burg & Erle Of)erated by the Pennsylvania. Oompany. The account for 390 miles; the Wyoming & Eastern, across Wyoming to the Utah line, t~e y ear6 1886, 1887 and 1888 was as follows: . 4.60 miles; a:r:d the Salt Lake valley & Eastern extending into Utah to INCOME ACCOUNT OF PENNSYI,VANIA. RAILROAD COMPANY, Ogden, 110 miles. 'Ihern several companies will even1ually be merged 1886. 1887. 1888. into one-the Pacific Short Line. The line runs north of the Union Net income Penn. RR. Division. $8,974,970 $10,4.U,287 $9,969,662 · l>acifl.c about 100 miles. (V. 48, p. t62; V. 49, p. 115, 145.) 179;016 227,991 160,501 P~nama.-Owns from Aspinwall to Panama, 48 miles. Opened Net loss New Jersey Division.through Jan.28, 1855. The subsidy bonds are secured by a pledge of the Bala.nee .......... . .......... , $87~5.~54 $10,2l::$,29ts $9,809,ltsl aum of $225,000 annual subsidy payable to the U.S. of Colombia by From this balauce deduct :the company. In June, 1881, most of the stock was sold to parties Advances to Penn. Co .••..•••.. $667,093 $1,020,000 $---····· lnterel'lted in the De Lesseps Panama Canal Co. The report for 1888 was Payments to trust fund ..•.. _••• 69,895 78,624 71,121 1n CHRONICLE, V. 48, p. 489, showing net income of $1,654,621, against Coneol. mortgd.ge redeemed .••• 324,800 324,800 324,ScJO $1,141,115 in 1887, and a surplue over charges of $1,150,543. against AlleghenyVal. RR.-Deficienoy 698,390 352,835 100,738 5619,902. Dividends sinoe 1876 have been: In 1877 and 1878, 12 per Fred. & Penn. Line RR. do .. 15,000 ·90,000 oer.t; in 1879, 13; in 1880, 16; in 188 1, 31:!!6; in 19 32, 12 ½I; ia. 18 83, Am. 88. Co.-To meet int. guar. 90,000 1312; in 1884, 16; in 1885, 10; in 1886 and 1887, nil; in 1888, 26; Settlement balances trunk line 411,972 167,183 ln 1889, 9. ( v. 46, p, 479; v. 48, p. 489.) For fire at N. Brllll8wick, N. J .. 265,000 175,000 Paterson &: Hudson.-Own.s from Weehawken, N. J., to Pater- E x.traordinary expenses .•••.•.• 1,241,115 1,itii:547 . aon, N. J., 13 miles. The road was leased ln perpetuity in 1852 at a $2,429,557 $2,768,19R rental of $48,400 per year, and is operated by the N, Y. Lake Erie & Balance to credit of income .••. $2,542,150 $6,253,804 $7,783,739 $7,040,963 Western as part of its main line. Divirtends .••..•••.••.•.•••..••. (5)4.,738,892(519)5,418,702 (5)5,327,270 Pennsylvanla.-1See Map)-LINE OF ROAD-The Pennsylvania. system embraces about 7,581 miles of railroad, including all east and west To credit of profit and loss .•••• $1,514,912 $2,365,037 $1,713,693 of Pittsburg, At the close of 1888 the mileage operated east of Pitts• Deduct settlem't of claims, &c. 623,756 381,487 93,272 burg & Erie, on which earnings as reported were based, was divided as Balance......... . ........... $891,156 $1,983,600 $1,ti20,4~1 follows: Pennsylvania Division and branches, 1,617; Philadelphia & Profit and loss Deo. 31 ...•••.••. $15,625,349 $17,608,947 $19,229,369 Erie Division, 287; United Railroads of N. J. and branches, 465; total -(V.48,p.222,309,323,328,372,389,413,428,481,527,558, 633 operated, New York to Pittsburg, with branches, 2,370. ORGANIZATION LE.A.SES, &c.-The charter of the Pennsylvania Rail- 689,S00,855;V.49, r . 21,23,115,2os,2a9, 463,540,120,857: road was dated lpril 13, 1846, for a line from Harrisburg to Pittsburg. p.107.) The line :trom Harrisburg to Philadelphia was under other organizations, Pennsylvania Oompany.-Tue Pennsylvania Oompany is a cor• including the State Railroad, and the Harrisburg Portsmouth. M:t. Joy & poration chartered by the Pennsylvania. Legisiature, April 7, 1870, disLancaster is still operated under a lea.sf>, though forming part of the tinct from the Pennsylvania RR., and it operates all the lea.sea lines west main line. Road opened in 1854. of Pittsburg. The stock is owned by the Pennsylvania RR. The Pennsylvania Oompany was organized in 1870 as an auxiliary The re~stered bonds a.re secured by deposit of $4,000,000 of Pittsb. Ft. -corporation to control air the lines west of Pittsburg & Erie, the Penn• W. & Chic. special stock. Tke ~old bonds of 1921 are secured by a deposit sylvania RR. Co. holdinjl all its stock. in trust of the leases of the Pitts. Ft. W. & Chic. and the Cleve. & Pitt,s. STOCK AND BONDS.- '£ he Pennsylvania Railroad stock has been in- railroads and are also gnnranteed by the Ptjnn. RR. Co., the trustees of .creased from time to time, chiefly by the sale of s t ock at par to stookhold· the mort. being Wistu.r MorriA, John P. Green and Henry D. Welsh. era, for the purpose of rat sing capital for new aquisitions or betterments. The sinking fllnd is 1 p. oL. per annum and int. on bonds in sink. fund, The dividends paid each year ~ince 1870 have b een-in 1871, The whole number of miles operated or controlled by this company is 1872, 1873 and 1874, 10 per cent each year; in 1875 and 1876, 8 per 2,864. 'l'he income a.ccoURt has shown net profits-as related to charges: cent ee ch year: in 1877, 4; in 1878, 2; in 187~, 412; in 1880, 6 and 1 deficit in 1884 of $710,220; de:fl.clt in 1885 or $1,094,671; deficit in per cent in scrip; in 1881, 8; in 1882, 819; in 188:i, 8¼; in 1884, 7; 1886 of $200,674; in L887 Ret profits $675,516; in 1888 lo~s $74,891. in 1885 and in l t< 86; 5; in 1887, 512; in 1 888 and 1889,5 p ercent yearly, Pennsylvania & Northwestern.-Owns B ellwood, Pa., to The prices of t,he stock yearly in Philadelphia since 1875 have been: In 18 76, 4 5@583e; in 1877, 24l>a@49; in 1878, 27 @3514; in 1879, 32:la'@ Irvona, Pa., 26 miles, and Irvona to Horatio, Pa., 37 miles; total, 63 miles. A consolidation Jan. 1, 1890, of the Bells Gap and Clearfield 7 513a; in 1880, 4tj@6714: in 1881, 59lg1J1701s; in 1882, 53 s1116514; in 1883, 561tr~ 64.34; in 1884, 49141161; in 1885, 4534@56 18; in 1886, & J eff'. RRs. Before oonfolid1cltion Be Us Gap paid; ru 1882, 15 scrip; in 1 883, 6; in 1884, 3; in 1835 to 1 888 incl., 5: in 1889, 21.g. Stock of .513e11 6014; in 1887, 5312@60; in 1888, 5214@ 5658; in 1889, 5U14'1)56; new coupons, $1,660,000. Chas. F. Berwtnd, Pres., Phila. (V. 50, p. 37.) in 1890 to Jan. 17, inclusive, 53 14-a> 535g. This company owns 217,819 shares or the Pblla. Wilm. & Balt. RR., Pennsylvania&: New York (Canal and Rallway).-Owns :and the four per cent bonds or 1921 are purc:hased yearly, if obt ainablt from Wilkesbarre, Pa., to N. Y. L. E. & W. RR. near New York State at not over par,wi1h the sur plus proce eas of Ph. W. & B. dividends. Line, 105 miles; ]?ranches to mines &o., 30_ miles; total o wned, 135 Interest on general mort. tis of 1867 is p ay able on conpon honds Jan. miles; leases 45 miles: total operated, 180 miles. L eased f or 99 years 1 and July l ; on r egist ered bonds, April l and October J. Interest on from D ec. 1, 1 888, to L ehigh Valley, w hich assumes the debt. Common .consol. 6s of 1873 is payable on coupon dollar bonds on June 15 and stock $1,061,700 (par $50) and;prer. stock, 10 per cent cum ulative, $4,· D eo. 15; on coupon sterling bonds, Jan. 1 and July 1; on registered 000,000 (par $100), both owned l.,y Lehigh Va1ley RR. 7 per c ent divi. ,bonds quar terly March 15, etc. Interest on cons('l, 5s of 1879 js pay .. deud p s i li on pref. stock Jan., lE.89. Tlle general mortgage of 1889 able on coup<'n bonds March 1 and Sept. I; on regietered b onds, quar- (trustee, GirarJ Life Ins. Co.) was JSsued to re tire the pref. stock, with terly, March 1 , eto. a.rreara~es, and the prior bonds when due. In yea.r ending N ov. 30, The collateral trust loan of. 188 3 is secured by the d eposit of mortgage 1888, gross earnings w ere $ 2,952,5 48; net over rentals, $844,526. (V. -bonds of £Ul:Jfidiary lines to the par value or $12,500,000. 48, p. 98, ~92; v. 49, p. 373.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis v.»o .Bernice ont https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Sonestown Central JANUAUY, RAILROAD STOCKS AND BONDS. 1890.1 113 Subscrlberl!I ·w ill c@nCer a great! Cavor by]glving Immediate notice of' any error discovered In the!ie Tables. DESCRIPTWN. For explanation of column headings, &c., see notes on first page of tables. l$u,uis-.t'nn01 INTEREST OR DIVID.E:NDS. Miles Date Size, or pal, When Due.. Amount Par of of Rate per When Where Payable, and by Stoclc11-La.at Road. Bonde Value. Outstanding Cent. Payable Whom. Dividend. --- ---20 1881 Peoria~ Pekin Union-lat mortgage. gold .. .... . c Second mortgage, gold (is~1rn,1 for incomes) ... . <' Perkiomen-lat M., ser. l (lstl'n) g u . by P.& K.,!?.c* 1st M. , er. 2 (2dl'n), g.,guar. b y P.& R.(end.) .c* Petersb ttrg-Stock ................................ . .. Guar. pref. stock, 3 per cent.. Hen prior to mortg. 1st mort. (payable $25.000, due yearly J an .1 )c&r Mort bonds. class A, $251,000 reserved for lstM. ~ortgaie bonds, class .B •• •• •.• ••.•••.••••• _• •• • •• • Philaaetp ia & Balt. Oent1·al--Stock .....•....•..... . Gen.M.for$2,500,000 ($1,100,000 res'd for lstM.) Westchester & Phila., 1st mortgage ............. c.. Phi"la. <l Erie-Stock, $ ?,400,0 00. is pref. special . .. lstmort., Sunbury&E. (exte'd20y'rs in '77) .. c&r Gen. g., guar bloPa. RR.(~~·~~~:~~~-~·- ~-~i_._._c~~ Phil. Germ. <l Ohestniit Hilt-lat M., gu. by Pa. RR. r Phil. Ge1-m. <lN01-rist'n-StJr.12 %rent.,Ph.&R.RR.. Philadelphia Newtown & New Ym·k~tock ..•....••. lat mort., guar. ov Phila. & Read., coup ...•...... Philadelphia cl Reading~tock . ..•.•.....• . ....••••. Mortga!e loan, aterlmg, coupon ...••..........•... o dollars, coupon . ......•......••..••. do convertible, coupon ..•..........•.. Mortgage loans, coupon .. ...••...•.. .•......••...• . "lonaol. mort. ($8,162,000 are p:old 6s) op. or reir. Impr't M., g., s.f. dr'n at 100. See V. 48, p. 260.c Consol . .'.\I, of '82 stamped (payable at noti ce) .. c· New g-en. mort., gold ($100,000,000) . ....... c*&r lat pref. income M., nor. cum. ($24:400,000 1 •••• c .. 2d pref. income M,. not-cum. ($22.500,000) ... . c"" 3d pref. inc. M., not-cum. ($6,631,301 convert.)o* Deferred incowe bonds (coming after stock) .... ~o - 20 38 38 61 0 59 5!l 59 79 79 27 287 40 2H7 287 7 29 21 21 1055 -... .... .... ··-· .... .... f:i2"7 327 327 327 . --· ---· ----- --- $1.000 $1,4.91'>,000 6 g. Q.-F. N. Y., Central Tru t Co. 1,000 1,4!H-l,000 1881 4192'. M . &N. do do 18 7 100. &c. 800 ,000 5 g. Q.-J. Phil., Penn.Co.rn~.on L. 1,000 1,450,000 188:! Q.-J. do do ~ g. 100 ..... 96 11 ,800 ···· -·--·· 100 323,500 l¾ J. .&..J . i869 500 &c. 200,000 .J. & J . Rich'11d & Petersb'g,Va. 8 ry 18ol 643,000 J. & J , do do . ·-· 800,000 1881 6 A.. & o. do do '"ifo 2,495.650 a1:&-·N. Phlla. , Penn. RR Co. issi 1,000 1,ot•o;ooo 1 ,100,000 1871 100 &c. 7 A.. & o . do do 50 10,37,'> ,000 .... ········--Pa. RR. i857 1,000 976,000 A.. & o . PhlladeJnhia, 1,000 13.943,000 5g.&6g. VariouR Phil .. Pa. RR. & Londoo. 1R69 1,000 4,5f-5.000 1869 4 g. A. & 0. Phila , Peun. RR. Co. 1,000 1,000,000 1883 4.19 M.&N. Phila., Penn. RR.Office. 50 2,231,900 .... 3 Q.-M.. Phila., Treasurer or Oo . 50 1,200,000 A.. ·&·o. Pbila.,rliii: &- Read. RR. 100 &c. 700,000 50 39,480,362 ........... i843 £500 967,200 J. .&.J. London. 1843-9 1,000 1,499,500 6 J . & J. Phila .. Omce,227 So.4th. 1857 500 &c. 79,000 6 .T. & J. do do 1,000 2,700,000 1868 7 A. & O. do do 1871 200 &c. 18,811,000 6 g. or 7 J. & D. do do 1,000 9,364,000 1873 6 g. A.. & 0. do do n,768,452 1882 500 &c. 5 g. M. & N. do do 1888 1,000&c 33,180,214 4 g. J. & J . do do 1,000 23,941,247 l·BS 5 g. Feb. l. Last paid Feb., 1889 1,000 16.16,'> ,'l:'>3 1888 do do 5 g. r -b. 1. 1,• 00 5 g. Feb. 1. 2¼% paid Feb., 1889 1-~~~ l~:J~~'.~~~ 6 ..•. . --. . ··-· ··ir ··;· ··.r ··.r i877 I Pennsylvania Poughkeepsie & Boston - ( See Map.) --Owna I - --· -----Feb. 1, 1921 Feb. 1, 1921 Jan. 1, 1918 Jim. 1, 1 918 Jan. l, 1859 July 3, 1889 Jan , 18UO -'98 July 1, 1926 o,•.t. 1. rn2a None pa.id. Nov. 1, 1911 April 1, 1891 oct:·i·,-·i897 July 1, 1920 July 1, 1920 May 1, 1913 Dt'C,, 1889 oct.""i:··is97 July,..ioi.o Jruy, 1910 July, 1920 0.'.lt. 1, 1893 June 1, 1911 Oct. 1, 1897 May 1, 1922 Jan. 1, 1958 Jan. 1, 1958 Jan. 1, 1958 Jan. 1, 1958 Ir rede~mable Dllia from Germantown Juno., on Connecting Railway, to Chestnut Hill, Slatington, Pa., on the Lehigh Valley liR., to Pine I t<land, N. Y ., on the 7 miles. From May 1, 1883, leased for 3u years to the Pennsylvania N. Y. L. E. & W., (about 80 miles), connection to be ma.Ile by the lat1er · R&. Co., which guarantees 419 per cent on the bonds. R(=mtal net earnroad with the Poughkeepsie Bridga. Completed in Nov., 1~89. Ex:- lngs. There is a sinking fund or $10.000; bonds ollrchast>d,notdra.wn,at tension to Harrisburg;, 96 miles, contracted for, flr<1t morr gage tor par. Penn. RR. owm, $9 i!),750 of the $1,000,000 stock (par $50). Groea $3,000,0 0 to be 1•sued the reon . Tl.lis is the old Slatington & New earnings in 1888, $198,564; net over expenses and taxes, $5.?,818, Eng., sold in forecJollnro April 20, 1887. Trustee of tlrst mortgage of 'l. 5aiost $2,),161 in 1,87. 1889 is the Holland Trust Co. Sto,·k, $1,750,000; par $50. Pt•,...,-ident, Philadelphia Germantow-n & Norrlstow-n. -Philadelphia_ Gen J. w. Hui::ted. ot Peeksklll, N. Y. Bee CHRONICLE, V. 48, p. 38, 100, Pa., to Norrlbtown, Pa., 17 miles; Germantown Branch, 3 miles; Ply764; V. 49, p. 178,333,616, 793.) mouth Railroad, 9 miles; total, 29 miles. The property was leased Pennsylvania Scl1.uylklll Valley.-Owns from Philadelphia to •fov. 10, '70, to Philadelphia. & Re~g ~R. for 999 yea~ at a rental of New Boston, Pa., LOl rui 1,. 8 , and Frazer to Pnremx.ville, l l miles $269,623 and $8,000 yea.rlJ: for orgamzation expenses. D1vi lends ~f 12 branches, 7 miles; total, 119 miles. This is oootrulled by the Pennsyl- :;>er cent ,i:>er annum are paid regularly. Sto ck $.:!,2'16,000-par, $::>O. vania RR. Co., which leases it for 50 years from Dec., 1885. The bonds Philadelphia Newtow-n & New-York.-Owns from Erie Ave. and sto<·k are owned by tue Pennsylvania &R. Gross earnings in 1887s Philadelphia. to Newtown, Pa., 21 miles. Stock, $1,200,000 (par $50). $9::lS,865; net over expens es and taxes, $l53,916; r e11.tal, $~1,liO Gro;,. rhe t>onds were guaranteed by the Philadelphia& Reading-RI{ Co. The in 1888, $1,358,269; net, $134,883; surpms over Ji.xed chi:lirges, .$64,905. roarl is operated by its owners and in connection with the P. & R. Three suits fur sum.; aggregatin~ $513 .0 UO have been brought by t,he P. & R. Pensacola & A.tlantlc.-Pensacola, Fla., to River .Junction. Fla. (~ee 48. p. 2'.!2.) , r1 year enrling Nov. 30, 1 ~ss, gross earnings were 160 m.ilt-s. Operated by L-ouis. & Nash. Stock, $3,000,000 (par $LOO), l?93,lfl5: detlcit under operatinti expenses,$ll,471 (V. 48, p. :.:!22.) $1,550,000 o'r whicb, aud $1,000,000 lat mort. bond,., are plelll{ed undel' Phlladelpb.la & .Keading.-LINE OF ROAD-Owns main Lonisv1Jle & N 11t->hville collaternl trust of J 8~2. Hesiues these securitirs line Philadelphia to Mount Carbon, Pa., 98 miles; branches owx:.ed, that company hold!! $160,000 lsts and all the 2ds and $906,000 land 229 mi.lea; leased lines, lH6 1nilP-s; roads controlled, 212 miles: tota.loper• grant bunds. 1 1-10 per ceut of lat m irtgage bonds may b ,1 drawn an- a.ted Novemher, 1888. 1,055 miles. nually at 110. Land grant. unsold June ;iO, 1889, $1,'149,!:J51 acres; ORGANIZATION, LEASES, &c.-The Philadelphia. & Reading Company eale11 in l 888 -i;.9, 65,8117 acres for $57,550. In year unding Juue 30, was chartered April 4, 1833, and on l\1ay 13, 1872, the Mount Cl.frbon 1889, gross earnings were $317,443; net, $:..10,145; deficit fur year Railroad was meri,red and becarof' part of the main lme. The Phlla-under interest, &c., $:209,f>71, against $239,519 in 18d7·8~. delphia & Reading Co. leases a number of roads 1ll Pt>nnsylva.nia; also. Peoria & Bureau Valley.-Owns from Bureau .Junction to Peo the North P ennsylvania RR. and Delaware & Bound Brook, forming the ria, Ill., 47 miles. The road was leased in perpetuity April 14, 1854, to line from Philadelphia to New York, and <·ontrols Rea.rlm,!? & Columbi&. the Chicago & Rock Island Raih·oad at a. rental of $125,000 per annum, The fiscal year ends Nov. 30. The annual election is held early in Jan. The Philadelphia & Reading Coal & Iron Company is a corporation Peoria Decatur & Evansvllle.-(See Map Evansville " Terre formed (Dec. 12, 1871) for the pu:rpr.se of owning and working the exHaute).-Owus trom Pt,.k:m to Evansville, 235 miles; branch b tensive coal properties of this company. The Phila. & Read.RR. Co. owns miles; leases, Pekin, Ill., to Peoria, ill., 10 miles; through Docatur, all the stock ($8,00l>,000) of the Coal & Iron Company, and in QJ.l had 3 miles; total, 254 miles. This road ie a oonsolidat1on of the iuvt>sted in it Nov. 30, 1888 (as per ba.lauce slleet), $72,615,374 over Pekin Lincoln & Decatur RR. and the Decatur Mattoon & So. and the llabilitieR. It also hell Nov. 30, 18-lS, otller s ·ocks a.nd bouds appraised Grayville & Matto<·)D. The road is operated in ha.rwony with the Evansv. at $14,734.744, besidf's $ L,351,777 d eposited with trustees. & Terre Haute. From Ju1y . to Dec. 31, 18811 (6 mo8.I, g-ro .. s earnings In May, 1880, receivers were appointed and held possession till \ fay, were$3lJ4,";67; 1,eli,$1~7,l76; defl.01t under cba.rJ£ea,$o .891. Fi1Sca.l 1883. ln June, 188-1, ti.le company again went into receivers' bands, rear now ends June ::io L'.1st report in V. '19, p. 014. <Jross earninJ£@ and so remaioed till J anuar.1 , 1i;S8. In Feb., 'So, the Drexel-Morgan syndicate was formed, and the plan of m 18 months f'Dding June 30, 1 d8~, were $1,04 •i,520: net, $343,2!:J8; interest 1,n bonds, $40-1,730: other inte1est, $23,624; c .. r trus1a re- reor , :,nizatiou was published at l eng1h, as moditlect, io the CHRONICLE of deemed, $61,2fi0; rentals, $42,750; deficn, $111,,0~6. (V. 45, p. 26; Dec.18, 'd6, c,n p. 747 (V. 4::3, p. 7 1:147). Nearlyall holders of aecuritiea asse, ,ted to the reurga.nization cbeme, except that the holders of 46, p. 351; 4.9, p. 614; 50, p. 107.) $5,'; 68,722 first aeries con ~oli lated lives deuline t to deposit, but a.greed Peoria & Pekin Unlon.-Owns from Pekin to Peoria, 10 miles to accHpt payment of tbeil' bonds at par at any time. on each side of Ill. River; total operated, 20 miles. The road is a union TheP. & R. R 1.Hroad T1mnina.l Uomnany witb. $3,!'500,000 bonds a.nd road, and the stock of $1,000,000 was taken by the difl'erent Peoria $3.5 0.000 stock was or!!aoized as pt.>r sta.temeut in V. 46, p. 4 L3. RR. companies, and they pay a rental for use of tht, road and also pay Under the reorganization agreement the right to vote on stock is vested terminal charges. See full description in v. 36, p. 253. Reeeipts tu in five truRtees till Aug. 1, '9 , ; these are J.LowberWt:'lsh,J. Pierpont Mor1888. $4 l 2, t::i3; neli, $17ti,ll O; surplus over interest and charges, gan . .John Wanamah er, Austin Uorhin. and there is one vacancy. They $11,355. A. L. Hopuna, Pres't, N. Y. d<>ct. tlle Buard of Ma.na!!'E-rd anrl offl oers on tile 2d Monday in January. STOCK AND BONDS.-The dividends paid on Philadelphia & ReadPerklomen.-Owns from Perkiomen Junction, Pa., to Emaus ing stock froru 1870 to 1875, inclusive, were 10 per cent each year; in .J11nctivn. 39 miles. Stock subscription, $38,HO. R eona.nized in 1897. :rhere was due Philact.elphia & Reading RR. NoV:lllJber 30, 1876 212 per cent was paid and nothing since. Tl.le general, and nrsli. second aud third prefere r ce income mort'88, on lo:-m acc't, $781.120; on curr,·nt ace' , , $148,t)30. In year endiug Nov. 30, '88 g , oss eamings were $19.:l,75!:J: net $5 t,b87; dtltl.Ci~ under gagos (Trustee of all P enn . Uo. i'or Ins. on L ives, etc.. or Phila.delph1a) cover io addition to tbe 3 ,7 mileR of road owned, the title to leased interest, $40,705. (V.45, p, 53,473,705; V. 47, p. 81.1 lines (mostly leased for 999 years), all real estate, rolling stock and Petert1bttrg. -Owns Petersburg, Va., to Ga1ysburg, N. c.', 59 milei;; vessels ot the Company, $3,0uO ,OOv P. & R. Coal & [ron Co. stock, a.a rents Garysuur·g to Weldon (~eab. & Roanoke), 2 mites; total, 61 milt'EI. well as the rf'al estate that Company, and subject to a mortgage to Re-orjlauize<l in 1877 witlJout foreclosure, From July 1, 1~89, to Nov. P. & .R. RB. C,,. dated July L, 1874, stOJk in other coal and 'r"n oom30, 1 ° 89 (5 mo ·• tbs), ~roas earnings were $175,57>7, aga.in~t $156,t>35 panif'S amountirn? to $7,448 .975. An abstract of the genera.I morti,rage in 1888: n e t. $6l> u77, against $Jl,4 l l. In year endmg Septt-mh ..,r was in the CnRomCLE, V 4,;, p. 679, and of the preference iucome mort30, 18 .. 8, "roas earnin~s were $410,103; w -1t, $Ud,L22; surplus ga~esir.. V.47,p.14land1 +2. over interest and guaranteed divideud, $:26,907; dtvid• nd Nv. 2 In Feb.. 1i..1;~. the 3d pref. incorre bonds received only 2¼ per cent, on comrn, ,n stock ii per c ent), $L9,21ti; bonds redeemed, $25,000. hut tbe hol'1crs atterwaru brou{-r 11t a sui ;. In Jan., 1890, i ; was decided ln'89tll!cal)earcbaogedto eudJune30. \V.4 7,p.620.) to pay nointerest on anyotthe incomes for the year end1ogNov. Pblladelphla & Baltimore Central.-Philadelphia to west - :-w , 188!:J, as ti.le yP11r'I! surplu'! over :fixel charges was small. cheater, 26 miles; Westchester Junction to Octorflxo Md., 46 miles ; (SPe V. 50, p . 101.) Net earos. are d t' flned in the Income mot·t's as the leased ch~l!ter creek Railroad, 7 miles; total operated. 79 miles. o 1 protlte ot the RR. Co. fur each fi,1c•al year . end.in!,{ Nov. 30, dethe itock r'rtilad~lphia Wilmington & Baltimore R~. holds nearly all r 1vt'd from all so· r ce!', af ter paJi g operali'g expenses, ta.xe•, and existand operates r.tu-1 ro ,:1.rl. nayinl( over n tit. earnings llS r entc1,l, In ing ren1alE1, ~uar.-t.ut ... es, and iut. c harges (but not fixed charge" ot 1887-8 0 , uet earnings, $1-19,171; deticit un1er cllarg-es, $3,7 .:; 1. •lle s >1 me sort suhsPquently c , e aten); a lso, afte_r deductin~ expenses • . of "rt>newin~. repladug aud repairiug its said prope1ty aud p1emises, PhiJad~lpb.la & ~rle.-Own~ from Sunbury to Ene! 287 _mtleR. inc1udrng such reaRonable iruprovewents thereof and additions tnereto Formerly .::;uu.out·y & Ene RR. It 1~ leased t4? Pennsylvarua Ra.ilr,,ad as shall b~ nt-cessary ,o r the safe, proper and economical operation of tor 99!J ) ~ar,1, and actual net receipts are _paid ~s rental. The _g en eral thH same."-(V. -17, p. 256.J mortgage _is ~~arantet-d b_v the !:'ennsylvama Railroad and the rntere~t I The range or P. & R. stock yearly in Philadelphia since •75 /shares $50 on ~he 6s 1~ paid J . & J., on the.> per cents A.~ 0. The Penns:} Iva.ma 1 par). has oeeu tn 1876, 1812<il55; in 1877, 10@20-'4; in 1878, 113s?> Railroad Cowpirny owned D ec. 3_1.i, 181"8. $3,5(11,"400 common and l!-l¾; in 1879. 11¼@37:lg; in 1880, 6¾1i136; in 1881, 253sW::l7-'4: .fn $2,400,()~0 piefP-rr•d atoc_k a~d $.>, 195,00~ g~npr,1,l mortgage bonds, 18fi 2 , 2 :1 182' 33:lg; in 1ss:1, 23-½l'll>::$0¼; in l i<84, 81911>30-'4; in 18M5, 63s'@ and tl 1e c~t) ~f P!nla1lelph1a (smk1i,g tnnd) .f;2.i:JO,OOO comrno_a stock. 1~18 ; in '8fi,912<l!,27: in 87.1714@357s; in '::l8, to Aug. 10 inol., 25 78 w343s; From _J .,nuary 1 to Nov. 30, 18~9 (ll months), gross. eammgs ~ere cew stock, Aug. 11 to Dec. ::n inHL, 2214'11>27¼; in l8 tjfl, 1838@25; in $4,322,H6, against $-1,115,877 m 1888; net, $1,661,487, aga.iust 1890toJan. 1~ incins 1vt,,351!s@3iFa. In 1883-9 the di.niui,;ned coal $1,63!:J.a21. . bu~ioes8rt'duced earnin~a. The_re_port for 1888 )~ CH~ONICLE, V. 48, p. 290. showed groRs_ earnOPERATIONS, FINANCl!:8, &c.-[n 18-16 87 while the company WM ID. ings $4 ;;7&,042: 1 et , ~l ,6.5;>.850; surplus over all chargeB, $143,270. receiver's hands, the net ea.ruings were the largest ever ma.de. ln the -(V. 46, p. 134,226 871, V. 48, p. 100. 298 .l first two mooths of lihe tisoal year 1387-38 the strike prevalled. awl Philadelphia Germantow-n & Chestnut Hlll.-In Phlladel- earnings were ~really reduced. v. v. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis j' v. of INVESTORS' SUPPLEMENT. 114' [VOL. L. Subttcrlber• will collf'er a great f'avor by giving bnmedlate notice of' any error dl•covered In these Table•. Bonds-Prinot• DESCRIPTION. INTEREST OR DIVIDENDS. pal, When Due, Miles Date Blze,or Amount :For explanation of column headings, &c., see notelil of of Par Outstanding Rate per When Where P~ble, and by Stocks-La.et on first page of tables. Road. Bonds Value. Cent. Payable om. Dividend. -- _?Aila. tE Reading-(Oon.J-Car Tr. C'ert., Ser. "A" .. do do do "B''·--···--· do do do "C"·-·····-· Mortr-ges on real esiate. ____________ ------·--····· P. & . Coal & I., purchase money & real est. M .. ,PAil,a. fl Prenton--Stock, 10 p. c . rental, Penn. RR .. l'Ailade'l;phia Wilmington tE Baltimore-Stock .... .. Plain bonds. ____ --·--··. __ .. --·._ •.. _-· .. ___ --· .. .. r Plain bonds ... ----· -· ----· ···- ···········--··----·· · .Plain bonds, s. fd. $16,000 yearly,:not drawn. ___ do s. fd. $20,000 yearly, not drawn .. _-· do . __ .. __ .... __ ... _..... _... _.. __ .. __ .• __ . Pitdmo-nt cl 0-umberland-lst mort., gold .. ·-··-··o* Pine Oruk ..:_lst mort., guar., prin. and int.. _..... r I\UB. 0. tE 8t.L.-1st oonsol. mort ....•. ·--·····o&r. 2d consol. mortgage, held by Penn. RR.·--··-··c 1st mort., Steub. & Ind., extend. in 1884... _ •• _.r Holliday's Cove RR. 1st mortgage ·····-··--··-··c .PittBb. OleTJe.tt Toledo-1st M., gold,iDt. guar., B . &O. NlBI>. d Oonnells?Jille.-lst mortgage .. _.... __ . _ ... Consol. mort., guar. B. & O. (s.f. £7,200 pr. yr.) .. 2d consol. mortg., ~~ld (pledged for B.& 0. bonds). PittBb. Ft. W~ne i! 0 ic.-Stock, 7 p. ct., guar. Pa.Co. Guarante special improvement stock ... . __ .. __ . 1st mort. (ser~es A to F) } Sink fund cum not 2d do (series G to M) drawn · • ·• * Sd mortj.age .. _,________ ______ •··--·c l Pittsburg unction-1st M., ~ld.·-··-·····--··-····o* littsf>urg d Lake Erie-Stoc .. _... _.. __ ... _.. __ .. __ . 1st mort., gold, COUJ> •••••••• --··-·· --·---·· --·· ••• 2d M. for $2,C00,000, (Series A) gold-- -· .... ____ c - - --· .... ---· 1883 1884 . --· --·· 1887 . --· ---· ..... -39 518 .... .... .... .... -29 75 199 199 125 1 78 149 149 149 470 470 468 468 468 8 136 71 71 •72)s4 500&c. 100 50 1,000 1872-4 1;000 1,000 1875 1,000 1880 1,000 1887 1,000 1886 1,000 1883 1,000 1868 1,000 1873 1,000 1864 1,000 1863 1882 1:000 1868 £200 1876 1885 100 &c. 100 100 1862 500 &c. 1862 500 &o. 1862 500 &c. 1,000 1882 50 1,000 1,000 1889 ---· i887 is1i is1s The annual charges coming before dividends on stock would be as follows, by the report of 1 8d8-d9: Rentals and interest bot~ companiE: s .•. _____________________ $7,753,981 Annual payments for car trusts ... __ ...... --· .... ·.....• ·-···· 422,000 $23,941 ,247 of first preference bonds @ 5 p~r cent .... ·--· 1,197,000 $16,165,853 of second preference bonds @ 5 per cent____ 808,000 $18,575,639 of third preference bondR 1D 5 per cent. __ .. ___ 928,000 Total of all charges preceding stock .• _, _________ ·····-· $11,109,000 The fl.seal year ends Nov. 30; the report for 1888-9, in V. 50, p. 104 (and p. iv of advertisements in issue of .Tan. 18) , showed the 1ollowing: 1886-87. 1887-88. 1888-89. "Net earnings RR. Co, . ·-· .. $10,981,572 $9,649,338 $8,140,669 Bet earnings C. & I. Co.... 1,448,482 28,652 Df. 147,850 ----- Total net both Co.'s. _.. $12,430,054 Deduct- Bentals RR. Co•• . _.• _._._.. $3,300,383 Interest RR. Co. __________ ,. 5,478,132 Interest Coal & Iron Co.... 794,272 ·--- , $9,677,990 $7,992,819 $2,882,582 4,516,433 834,872 $2,842,319 4,085,139 826,523 $1,000,000 6 F. &A. Phila., Union Tr. Co. $200,000 y'ly._ 612,000 6 M.& B. 102,000 y'ly, do do 1,080,000 Q.-M. Phila., Fidelity Tr. Co. 120,000 y'ly, 4¼ 2,158,792 12,557,lf6 5,-6-& 7 Va~ious Phil., Ot.• 227 So. 4th St-. Var. ·•92·1;o·•o.J. Q.-J. Phll'delphia, Co.'s Office Jan. 10, 18!()1' 1,259,100 219 11,819,350 3 J. & J. Phila., 233 8. 4th St. .Tan. 2, 1890> 4 1,000,000 A. & O. Phil.Of.; Bost.Kid. Peab. April, 1917 700,000 A. & 0. Phila., 233 So. 4th St. .Tan.10, 1890 6 800,000 A. & 0. Phil.Of.; Bost.,Kid.Pea Jan. 2 • 1890 6 1,000,000 T. &D. 5 do do .Tune, 1910 1,000,000 4 M.&N. Phil .• 23·3 So. 4th St. Nov. l, 19225 g. F. &A. New York and Balt. 650,000 Aug.1.1911 3,500,000 6 g. .T. &D. Phlla. P. & R. RR. Co. Dec. 1, 1932 : 6,863,000 F. & A. Phila., Pa., RR. Office. Aug. 1, 1900 7 A. & 0. Jan., 1883, last paid. Ajril 1, 1913 2,500,000 7 3,000,000 J. & .T. N. Y., N a t. Clty Bank. 5 an.1,1914 120,000 F. &A. Phlla., Pa. RR. Office. 6 Feb. 1, 1893=• 2,400,000 6 g . A.. & o. New York. Oct. 1, 1922 4,000,000 .T. & J. Balt., Balt. & Ohio RR . .July, 1898 7 6,658,224 6 g. J. & J. London . .T.B.Morgan&Co Jan. 1, 1926 10,000,000 5 g. F. & a. New York Agency. Feb. 1, 1925 19,714,286 llll i.,.T. N. Y., Winslow,L. &Co. Jan. 2, 18PO 12,022,000 .-.J. do do Jan. 7, 189():r llll 5,250,000 Various do do July 1, 1912 7 5,160,000 Various do .July 1, 1912 do 7 2,000,000 A. & 0 7 <10 do July 1, 1912 1,440,000 6 g. .T. & .T. N. Y., Third Nat. Bk . July 1, 1922 3,075,000 3 .T. & J . Pittsburg, Co.'11 Office. July 24, 1889 · 2,000,000 6 g. .T. & .T. N. Y., Phila. & Pittsb. .Tan. 1, 1928 1,000,000 5 g. A. & O. Jan. 1, 1928';-....... - --· This WfB a consolidation of several companies, May 1, 1868, inrlud.ingtha Steubenville & Indiana and thePan Handle roads. This corrpany is controlled by the Penn. Company, through the ownership of a majority of lts stocK. The P. C. & St. L. also has leases of the Little Miami e,nd its dependencies. Common stock, $2,508,000; first n:ref. $2,929,200; second prefened, $3,000,000; par value of shares, $50. Penn. RR. owns $3,000,000 }'ref. stock and $5CO,OOO consols. Authorized a01Qunt of 1st mort. $10,000,000, of which $3,137,000 reserved. The Co. is-liable for $262,500 Clnn. Street Connection Ry. bonds assumed. There are also car trusts, which Clllled for an outlay of $67,648 in 1888. The report for 1888 (CHRONICLE v. 48, p. 489) had the following : 1885. 1886. 1887. 1888. Total gross earnings_ 4,033,623 4,752,596 5,808,378 5,388,547 Op. exp. and taxes._ 2,681,633 3 ,130,690 4,017,219 4,193,0111 Net earnings ________ _ 1,351,990 1,621,906 1,791,159 1,195,536- ---------- ----- ----- P.c.of op.ex.to earn's Receipts- Net earnings .. --··--· Total deductions····--· $9,572,787 $8,233,887 $7,753,981 R entals and interest Balance, both companies.Sur.$2,857,267 Sur.$1,444,103 Sur. $238,838 Net from l'sed roads. ~ u d e s $181,197 from real estate. Totalincome. ____ The following tal le shows traffic and joint earnings for eight years Disbursementsexcluding the business under Central RR. of New .Jersey lease: Rentals paid .. _.. __ •. Interest on fund. d 'bt TJUFFIC AND E.ARNINGS OF RAILROAD .A.ND COAL & IRON COllIP.ANIES. Other interest. ___ . .. Int.on C.&M. Val.bds. Ooat carried Ooal from (tons of M'rchandise lands of 0. di Gross re- Net e'rnings Loss onSt.L.V.&T.H. "Cin.&Mus.V.RR. 2240 lbs.), carried one I. Oo,, tons ceipts bot7t of both comMiscellaneous . ~ _.... one mile. mile. 2240 lbs. companies. panies. I I I 1881-2. 628,975,470 327,347,373 5,624,789 $37,300,1621$10,647,770 1882-3. 713,984,492 305,871,807 6,074,131 4.0,045,615 11,855,181 1883-4. 581:l,980,525 319,279,871 5,672,684 37,009,753 8,950,554 1884-5. 665,018,573 359,526,194 6,040,178 34,343,501 7,926,304 1885-6. 727,179,4 6 2139 8,862,487 6,209,202! 35,683,096 7,335,603 1886-7. [835,308,697 444,614,4 231 6,901,497 41,188,7371 12,430,054 1887-8. 848,257,474 435,904,463 6,732,486 39,638,990 9,677,988 ··-····· 38,355,601 7,992,819 1888-9. ·--··-·· ---···-· -(V.47,v.22,81.109,141. 142,161,256,278,287,382,499,532,664. -v. 48, p. 68, 98, 159,190,260,428,481,527,556,829; v. 49, p. 23 563,690,720; v. 50, p. 37, 72, 85, 104, 107.) Philadelphia & Trenton.-Owns from Kensington, Pa., to Mor· r.lsville, Pa., !t6 miles and Tioga Branch, 1 mile; leases Trenton Bridge Connecting Railroad, 7 miles, and Frankford & Holmesburg Railroad 4 miles: total O"?lned and leased, 39 miles. On Dec. 1, 1871, it ~as leased with the United Companies of N. J. for 999 years to the Penn. RR., at 10 p. c. on _stock, and is operated as a part of its N. Y. division. In 1888 gross earnmgs were $3,847,44.0; net,, $2,125,627. Phllad~lph;la Wlbnlngto~ & Baltlmore.-Mlleaire as follows: .Philadelphia Wilmington & Baltimore RR., 133 mlles; Philadelphia, & Baltimore Central, 80; Delaware RR., 100; Queen Anne & Kent RR., 26; Delaware & Chesapeake, 54; Cambridge & Seaford RR., 27 • Del laid. & Va. RR., 98 miles; total operated, 518 miles. Owns over half the •tock of the Phil. & Bslt. Cent. a From 1868 to 1887, inclusive, dividends of 8 p. c. were paid; in 1988 nd 1889, 7; in Jan, 1890, 3 per cent. In April, 1881, nearly the whole 8tockwas purchased by Penn. RR . Oo., $10,890,950 of it being now held by that company. In year ending October 31, 1888, gross earnings were $6,604 653· net, $1,777,275; surplus over fixed charges (including other inc~me)' $1.223,4.08, dividends (7 p. c.) $827,354; improvements, etc., $298,368! aurplus, $96,f86. In 1888-89 gross, $6,498,936; net, $1,471,224. ' Piedmont & Cumberland.-Road extends from Piedmont, West Va., to Cumberland, Md., 29 miles. It connects the West Va. Central & Pittsburg RR., by which it is operated with the Pennsylvania RR. system, and has a traffic contract guaranteeing 5 per cent of gross earnings to and from this road over the Pennsylvania Railroad, whioh owns $ 200,000 of the $650,000 i;tock (par $50). In 1888, gross, $98 662· _ net, $39,464. H. G. Davis, President. ' ' Pine Creek.-Stokesdale .Junction to Rewberry .Junction, Pa., on the .Corning C. & A. Road, 75 miles. Formerly .T ersey Shore Plne Creek & Bu.ft. BR. It is operated by the Fall Brook Coal Co., and forms a C<lnnection between Philadelphia & Readin!? lines and N. Y. Central, and bonds are guaranteed by these companies and the Corning C. & A., on the condition that guarantors shall advance money for interest if needed and take 2d mortgage bonds for such advances. There are $142 000 2ds due in 1932. Stock $1,000,000; par $50. Stock and bonds were largely held by Mr. W. H. Vanderbilt. Gross earnings in 1888, $723,233; net, $271,936; xent of road, $239,603; surplus, $32,334. In 1887, gross, $612,844; net, $228,612; rental to P. C., $187,777; surplus, $40,835. Pltt•ll lllrg Cl~clnnatl &: St. Loul8.-0wns from Pittsburg, Pa., ::t lColumbus, Ohio, 189 miles; branches, 17 miles; total. 206 miles, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 66·48 65·M7 INCOME ACCOUNT. 1885. 1886. $ $ 1,352,579 1,621,906 4,974 4,835 378,330 432,897 1,735,744 $ 830,881 646,990 178,615 52,500 0 66:i:ff7 2,059,777 931~518 646,990 133,104 69·16 77•8]:. 18E,7. $ 1,791,159 5,778 654,955 1888. $ 1,195,5365,536 431,186,,- 2,451,892 $ 938,683 64 1$,990 150,05-1 1,632,420 $ 914,85~646,990 147,09~ ·is:1s~ "i4:i12 iis·:ii1 . Total. .• , .. _______ 1 ,775,903 1,725,784 1,848,944 1.727,674 Balance ••••.. -----· .. def. 40,159 sur. 333,993 sur. 602,948 def. 95,254 -(V. 46, p. 172; V. 48, p. 399,489; V. 49, p. 789, 825, \>. 50, p. 107.)-. Pittsburg Cleveland & Toledo.-(See Map of Piltsb. d Western. ► -From Newcastle .Junction, Pa., to Akron, 0., 77 miles, Stock $3,000,000 (p,:i,r$1'>'1), or which B. & O. RR. owns $1,505,000. Leased iI' .July, 1884, for 99 years, to Pittsburg & Western, which waR controlled by Baltimore & Ohio, and the B. & 0. guarantees interest on the P. C. & T. bonds (see terms in V. 39, p. 607.) From .Tan. 1 to Nov. 30, (11 months) ,._ /n'OSS ea1nings vrere$4.52,795, against $J3S,840;net, $102.177, against $125.901. :For 13 months ending March 31, 188~, gross earnings were,$528,433; net, $139,673; deficit under interest, $16;326. Pittsburg & Connellsvllle,-Owns from Pittsburg, Pa., to Mt.Savage .Tune., Md., 147 miles; branches, 4 miles; leased lines, 22 miles; total, 173 miles. Leased for 50 yea.is from .Tan. 1, 1876 (renewable forever), to the Balt. & Ohio Railroad. The consolidated sterllng mortgage is guaranteed by the Baltimore & Ohio, enough bonds bein~ reserved to retire the prior bonds. Road operated along with other lines -210 miles in all, as the Pittsburg Division of the Baltimore & Ohio RR. In 1884 the Baltimore & Ohio issued its bonds for $10,000,000 secured by pledge of the above second consolidated mortgage of the Pittsburg & Connellsville RR. Stock is $1,944,400; par, $ 50. In · year ending- · Sept. 30, 1889. gross earnin~s of Pittsburg division B. & 0. were $2,731,174; net, $909,5!?4; loss to less«rn, $314,073. Plttsbur~ :Fort Wayne & Chlcago,-Owns from Pittsburg, Pa. to Chicago, Ill., and toranch, 470 milefl. Made default Oct. l, 1857, and again in 1859, and was foreclosed Oct. 24, 1861, and reorganized unde ~ tliis title Feb. 26, 1862. On .Tune 27, 1869, the company l eased all its road in perpetuity to the Penn. RR at a rental equivalent to interest, sinking fund of debt, and 7 per cent on $19,714,286 stock, which was increased at that ·.Jme from $11,500,000. The lease was transferred subsequently to the Pennsylvania Oompany. The lessees are to keep ~he road in repair and also pay taxes, expenses, &c. The rental and int~rest charge Ls about $3,056,000 per year, and the profit to lessees has been large. The Pitts. Ft. Wayne & Chic. leases the Newcastle & Beaver Val., which in turn is leased again by the Pennsylvania Co. The first mortgage bonds are in six series lettered A to F, inclusive of $875,000 each series, the interest on "A'' series being payable Jan.,. . and .July; on "B" it is February and August; on "0" it is March ana September; on "D" it is April and October; on "E" it is May and Nov., and on "F" it is .Tune and December. The second mortga~e is also in six series of $860,000 each, lettered G to M Inclusive (J omitted), and the interest is payable .Tan. and July on "G" series, Feb. and Au~. on "H," March and Sept. on·• I," April and Oct. on" K," May and Nov. on "L,'• · and June and Dec. on" M.'' Lessee pays $104,100 yearly to sink. fund._ aud if b onds cannot be purchased, funds accumulate. or the above 1st mortgage bonds, $1,753.000, and of the 2d mortgage $2,154,000, and, $1,135,64!1 cash, were held in the sinking funds Jan. 1, 1889. Th& special improvement stock is issued to Pennsylvania RR. for improvements, &c., under article 16 of lease, which provides that the lessee.may issue special bonds or stock, and In 1888 improvement bonds wera.authorized for same purpose, but not yet issued. Penn. RR. holds $1,.- 2.J.8,519 special imorovement stoc-k. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE TSBURG & WESTERN PITRAILWAY & CONNECTIONS. ·,·,.; V L INVEbTORB' SUPPLEMENT. fVoL, L. Subscribers urlJJ confer a ~reat favor by giving Immediate notice of any error discovered In these Tablel!I. Bonas-PrinotINTEREST OR DIVIDENDS. DESCRIPTION. pal,When Due. Miles Date 8ize, or Amount Rate per When of Par F or explanation of column headings, &o., see notes of Where Pi1i8;1~~' and by Stocks-Last Road. Bonds Value. Outstanding Cent. Payable Dividend. on fl.rat page of tables. - - - - ------ - - p ittsburg McK. & Yough.-Cona. stk .. guar. P.&L. E. J. & J. N.Y., Union Trust Co. Jau. 1, 1880 $50 $3,350,000 3 65 1884 1,000 J. & J. do July 1, 1932 lat mortg., guar. by P. & L. E. and L. S. & M. S .. 62 1882 2,250,000 6 do 2d mort~age for $1. 750,0UO .. _...... . ...... _.... _. 62 1884 1,000 J. & J. do do July 1, 1934 850,uOO 6 & J. N. Y.,Mercantih,. Tr. Co. ·ttsb. PaineS'Vitle <I: Fairport-1 st M .. g., int. gu.c* 1,000 1,000,000 5 g. J. July 1. 1916 63 188 6 Pi ... 1889 1,000 J. & "J. do do July, 1916 250,000 5 Terminal m ort., h ,t ertst guar. by Pittsb. & West. 1,( 00 New York. Pi,·ttsb. Sru:nango & L. Erie-lat mort .. gold . .•...•. c 111 1888 2,300,000 6 g. J. & ' J. July 1, 1938 1,000 A.. & o. Philadelphla, Pa-. RR. Sept. 1, 1912 70 1882 3 ,000,000 5 ~.ttso. Va. ct Oharleston-lst mortgage, gold ........ 1,000 4 g. J. & J. N. Y .. Drexel, M. & Co. July 1, 1917 9,350,000 Pi.ttsbitrg ct Western.-lat M.,g.(for $10,000,000).o* 226 1887 J. & D. do 219.000 do June 1, 1898 lat mortgage Pitts. Newcastle & Lake Erie .....•. ·--· 1878 500 &c. 7 ·ttsbu1·g YoungstfJwn &: A.shtubuta-Pref. Stock..... 122 50 1,700,000 312 M. & S. N.Y., F arm. L. & Tr. Co. Sept. 25, 1889 F. &A. N. Y., Winslow, L. & Co. Aug. 1, 1895 1,000 310,000 Lawrence RR., lat mortgage ....•................ c 17 i865 7 F. & A. Phil.,Fidelity Tmst Co. Aug. 1, 1908 62 1878 1,000 1,500,000 6 Ashtabula & Pittsburg, 1st mort ...•....•...... . c* 1,000 1,3 .1 5,000 M.&N. N.Y., Farm. L. & •.rr. Co. N <,V, 1, 1927 New mort. (for $4,000,000) , a. f. 1 p. c .• not dr. c 122 1887 5 121,000 New York Agency Port Jervis Monticello & N. Y.-1,,t M. ($10,000 p.m.) 10 1887 1,000 Dec. 1, l927 --6· J ..&.J. N.Y.K.,ssler&CC',54 500 362,000 Wall H98 & 1899 PortRoyaldl.Aiigus.-lstM.and ~d M.,end.byCen.Ga. 112 '78.'82 do do General mortgage income bonds, gold ... .. .... . . c* 112 1878 100 &c. 1,500,000 J. & J. Jan. 1, 1899 6 1,000 2,143.0 80 M.&N. N. Y., Mer. Nat. Bank 6 PortRoyal&:West Oarol.-Con. mort., red. at 110.c" 229 1887 May 1, 1937 500 630,000 68 1880 7 J. & J. N.Y.Kessler&Co,54 Wall July 1, 1900 Augusta & Knoxville mortgage........ . ···--·o• Portland & Ogdensb.-latm.g.,int. guar.M. Cent.. c 800,000 6 g. J. & J. P urtland, Me. <.:ent. RR. July 1, 1900 60 1870 500 &c. 1,000 7l 0,000 M.&N. Bos to 0, Agency Consol. mort. $20,000 p. m. (g uar. Maine Cent.) c 108 1888 Nov. 1, 1908 5 Portland. 100 592,070 J. & J. Jan, 15, 1890 53 .... 3 Portland <I Rochester-Stock ($600,000). ·... ·····--· .I. & J. Bost., Easter:a RR. Co. Jan. 15,1890 Portland Saco&: Portsmouth,-Stock (e- uar by rental) 51 100 1,500,000 3 Portland&: Willamette Val.-lat M.,g.,red. at 105 . c• 1,000 400,000 7 g. J. & J, N. Y., Farm. L. & Tr. Co. Jan. 1, 1906 30 i8~6 Portsmouth <1; Dove1'--Stock, 6 p. c. guar. East. Mass. 11 100 769,000 J. & J. Portsmoutn, Treas, Jan. 1, 1890 3 ·-·· .Bost., Eastern RR. (',0. D ec. 16, !989 100 Ports. Gt. Falls<IOon.-Stock,gu. samediv.asEast.. ..... 1,150,300 73 6 1,000,000 lat mortgage ................................ _...• . c 73 1877 500 &c. 412 J. ·&n . Eoston, Mass., Nat . .Bk. June 1, 1937 1,000 i>rescott dl Arizona Cen'.-lst M., g., eink. fund ... c 775,000 73 188 6 p;. .J. & .J. N. Y., Office, 42 Wall St . Jan. 2, 1916 1,000 do do Jan. 2, 19116 2d mortgage, incomes paid ~ per ct. Jan. 1, 1890 73 1886 775,000 J. & J. 1,000 23 1872 500,000 J. & J. Providence,Am.N at.Bk. July 1, 1892 7 Pro'Didence dl 'Wiringf.-lst M. \end.by City Prov.1c* 100 Providence, Office. Providence dl orcester-Stock ..... .....••.••..... .. . 3,500,000 Dec. 31, 1889 51 2½1 Q.-M. -··· 1,0 0 1,250.000 A. &O. Prov. R. I. Hosp. Tr. Co. Oct. 1, 1897 1st mortgage .• .•....•...•..................... _... c · 51 1877 6 1,000 250,000 5 J. & D. N. Y., John Paton & Co. Dec. 1,1917 Qtiincy umaha ·cf Kan. 0.-Pref. 1st mort .......... 134 1887 1,000 1st mortgage ..• . ............ ..... ................. 134 18!;7 1,489,240 3,4,5 J. & D. do do Dec. 1,1917 --- i I Earnings for fcur _vears nast showed in 1885 groPs, $8.237,156; in total operated, 122 miles. In July, 1887, this orangization was 1886, $9,116,311; in 18 87, $11,'269,953; in 1838, $9,949,398. Net reve- made by consolidation of the A.shtabula & Pittsburg and other nue 1885, $2,411,451; 1886, !f3,080,399; 1887, $8,959,229; 18 B8, $2,- roads. Leased from Dec. 12, '87, to Penn. Co. Stock outstand820,037. (V. 46, p. 538; V. 47, p. 709; V. 48, p. 7'62.) ing: <'Om., $1,333,342, and pief., $1,700,000; both in $50 shares. Pittsburg .Tunctlon.-From Monongahela River to Allegheny Dividends on prefened stock at,rate of 7 l er cent yearly sioce ~8~7. River, Pittsburg, Pa., §1 m., incl. side tracks amt branches. Built under BoJ?-d_s of 1887 ttrus~eei Farmers L. & Tr. Co.) are reserved to retue auspices of B. & o. and Ptttsb. & West., which Co.'s made an agreement divis10nal h~nds. A. srnkmg fund or 1 per cent purchas~s bon_ds of 8~ at to pay $2 for each car. and guar. (separately) a minimum of $240,000 par, oth~rw1se payments ~ap,-e. In 1888 ~ro~s. earnm~s. $1,088,337; per annum till April 27. Hl22. In '88 gross earn's $201,313 and net net, $419,007; surp. over l:J?,t,, &c., $2~7,586, dividend on pref. stock {7 $152,637; rental, $14,99.' ; in1erest $91,233; dividend, $33,600; bUrplus, l ~r ceut), $118,989; ad<lit:ons and impro!ements, $l~0,957i balanc~ $12 810. In '87 gro&s $182.050; net $140,941; surplus over tixed o, et all charges, $7,640. In 87, gross earninp~• $~8~,3~4,_ net, $4~2,080, charges, $38,626. Com. stock is $860,000; pref., $480,000; par $50. surp. overflxed charges, $221,000; out ~f wruch paid dividend ,o~,000. Dividends pai'.d as earned; 7 per cent paid on pref.stock in 1888. -(V. 45, p. 112; V. 46, p.17~ 191, 481,a38; V. 47, p. 140.) Pittsburg & Lake Erle.-Owns from Pittsburg, Pa., to Youn~sPo1·t Jervis Monticello & N. Y.-Owns from Port Jervis, N. Y., town, Ohio, 68 m.; branch line to Newcastle, Pa., 3 m.; total owned, 71 to Monticello, N.Y., 24 mUes, and Huguenot to Su mmitvtlle, 18 miles, to m.; leases from Jan.1, '84, for 99 years, the Pitts. McK. & Yough. RR, connect there v.ith the Poughkeepsie & Delaware Valley road, thence Pittsbur~ to New Haven, Pa., 57 m, with tlranohes, 8 m.; total operated, to th~ Poughkeepsie Bridf{e. Was sold in foreclosure July 16, 1875, and 136 m. In Jan., 1890 it was reported that. control of the Mc·Ket'spo1t again sold out in Nov. 1886, and then reorganized under p1·esent title. & Beilevernon RR. (MeKeesport to Bellevernon, 28 milee) had been The whole issue of bonds on old road and extension to Summitville will secured. The Pittsburg & Lake Erie is managed in the interest of Lake he about $500,000. In year ending Sept. 30, 1888, .srross on 18 miles, Shue & Michigan So., ·which owns ~2.141,111 stock. The stock was $28,322; net, $8 ~0; interest, $9,000; detioit, $8,047.-(V. 4d, p. 372.) put in trust, but the Vanderbi1tinterest was allowed to vote and control .Port Royal & Augusta.-Owns from Port Royal, 8. c., to Augm.• the road; see V. 45. p. 540. in Jan., 1889, it was voted to increase ta, Ga.. 112 miles. FoTillerly Port Royal RR.. sold in foreclosure June the stock to $4,000,000, and to issue 2a mort. 111 mtee, N. Y. Security & 6, 1878, The Georgia R ::<. was endorser on $500,000 of the old bonds. Trust o) ., for double t1ack,etc. Paid dividenr! s 1884 to 1888, incl., at 6 The stock is $750,000, par $100, and in June, '81, Ceut. Ga obtained per cent. In '88, gross earnings (incl. P. MtK. & Y.), $2,787,207; uet, control of the company. fhe first mortgage bonds are $250,000, re$855,!: 93; surplus over :fixed chargeR, $273,3&1; e11vs. paid (6 p. c.), deeruable at 105; both :fl.rst1< and seconds also have sinking funds. In $123,0uO. Jno.Newell, Pres't, Cleveland, o. (V. 18,p. 38,128,292, 59t1; year endinfo{ June 30, '89, gross earnings were $295,799: net, $43.504; V. flO, p. 72.) surplus over interest and sinking fund, $5,7~4. Gross in 1887-88, Pltt8burg .McKeesport & Youghlogheny.-Owns from Pitts- $3:!5,547; m ,t, $58,287. CV. 45, P- t,96.) burg to New Haven, Pa., 57 miles; branches, 8 miles; total, 65 miles. Port Royal & Western Carolina.-Owns .Augusta, Ga ., to Soar Road opened Nov., 1883, and leased to Pittsb. & Lake Erie RR. for 99 tanuw·g, S. u., Laurens to Greenville, S. c·., and McCormick to .Anae.ryears, 6 per cent on the $3,100,000 sto~k and p1incipal and interest of son, S . C., 229 miles. A coni::olidation of the Aug. & Knoxv., Greenwood thebondsbein~ guar. byP. & L. Erie and Lake Shore & M:So. Cos., the Laurens & Spart., Sav. Val. and Greenv. & Laurens in 1886 with com. guarantees bemg endorsed on the share certificates and bonds. Gross stock of $1,~at,000 and 6 p. c. non-cumulative pref. stock $184,000. earniniss tn . 1888, $1.030,56•; net, $455,1::94; surplus over interest, Th~ mortgage is for $2,500,000. Central RR. of Ga. owns $ ,517,000 &c, t84,530, against $132,614 in 1887. Stock, $3,100,000; par $50. of the above bunds. &694,000 com. stock and all the pref: In year endJ. H . .tleed, Presicent, Pittsburg, Pa. ing June 30, '89, gross $357,946; net, $56,18 =· Iu '87-88, gross $29·2•· Pltt■burg Painesville & Falrpo.rt.-Owns from Fairport. O., 915: net, $68,462. See V. 45, p. 643. to Youngstown, O., 63 miles. Oct. 7, 1886, leased to the Pittsburg & .Portland & Ogdensburg.-Owns Portlsi.n<l Me., to Scottb Mills, Western the 52 miles from Fairport to Niles, and in 1887 the 1em1.1inder 108 m. ln June, 't10, after foreclosure this Co. was 1·eor1,tanized as the P. of the road was leased in perpetuity to the Trumbull ~ Mahoning, &O. Railway. The city of Portland owns $2,200,500 of the $4,237,036 which is controlltd by Pi Lts. & Wfstern, rental being commutt d in ad- stock (par $100). Leased from Aug. 30, '88, for 999 years to Maine varce. Ope1ated at cost, but interest of bonds is guaranteed. Com. Central for interest on bonds and 1 per cent on stock till Aug. 30, '91, stock, $800,000; pref., $150,000; par $50. From Jan. 1 to Nov. 30 and 2 per cent thereafter. The con.sol. mort. (Boston Safe Deposit & (11 mos.), gross earnings in 1889 were $263,501, a~ainst $248,970; net, Trust Co .. trustee .• was issued in 1888, to extend the roart to a con$8e,i:t77, again~t $104,052. F, r 13 mos. enrting March 31, ' 89, l!ross nection with the St. Jobnsbury & Lake CLamplain, $800,000 being earIJings 'were $300,447; net, $110,334; surplu:1 ovt:r interest, $56,167. reserved to piiy off 1st mort., and bonds bein~ guaranteed, principal - (Vol. 47,.p. 664.) and iuterest, by :Maine Central.-(V. 47, p. 50, 161, 278.) Plttsburg ·Sbenaugo & Lake Erle.-Thlscompany owns from Portland & Kochester.-Ownsh·omPortland,Me.,to Roohester~ HilHard8, Pa.,;:to Amasa Junction, with brani·he10, 66 miles. Opnates N. H., 53 m. By a settlt·ment in '81 all the old stock and bonds were conat cost Pittsb. Butler & Sllenango, Bronchton to Butler, 22 milef-; tot ·t l, verted into the stock of the new Co., of wbich thti Bost. & Me. owns 88 miles. Reor11anized Ftb. 10, 1888, but in Nov., 1889, F. W. Hlude- $300,000. Dividends si:nce 1883 have been: In 1884 and 1885, 4 per koper was ·appointed recPiver. Sto<:k !ili,900,000; par $50. (V. 47, p. cent; in 1886, 5; in 1887, 1888 and 1889, 6 per cent; in 1890, Ja.n. 594, 70P, 803; V. J8, p. 128; V'. 49. p. ~·17.) 1:;, 3. In year ending Sept. 30, 1889. gross earning1-, $206,045; net, Plttebnr"' Virginia & Oharleston.-From8outh Pittsburg, Pa.. $37,~77: surplus over 6 per cent dividend, $2,0cltl (V. 4 7, p. 7'44 ;. lo UDJontown, etc., Pa., 77 miles. The stock is $1,805,200; par $50. V. 49, p. 8 5 5.) Of the stock·. $1,451,050 is owned by the Penn. RR., which pays net Portland Saco & Portsmoutb.--Portland, Me., to Portsmouth. earnings as'rental, end the bonds are all pled~ed under its collater1.1l N. H., 51 miles. It was leased May 4, 1871, in perpetulty to the EastSrust of 1883 . . In 1888, gross. $674,065; net over taxes, &c., $215,e32; ern Railroad, Mass., at 10 per cent on stock. Lease rental changed aurplus over fixed charges, $6J,832. May 21, 1877, and now 6 per cent. The Boston & Maine Railr0a.d Pi.Jiebnrg & Western.-(See Map)-Owna from Alleghany City. leased the Eastern in 1884 with all its leased roads till 1937. Pa., to New Castle, Pa., 64 miles; Callery Juno. to Mt. Jewett, 139 m.; .Portland&Wlllamette Valley.-Lineofroadfrom Portland, Or., Duok 1'un Branch, 3 m.; Clarion Branch, 6 m.; other branches, 2 miles; to Dundee, 28 m., and branches 5 milee. Connects with Oreg. RR.a total owned. 212 miles. Leases for 99 years P. C. & Tol., New Castle witb which it has a frei.Jrht contra<.,t for 15 yea.rs. Bonds may be reJnnction, Pa., to Valley Junction, 0., 77 miles, and the Pitts. Paines. & deemed at 105. Stock, $150,000. .l ah'port RR., Niles to Fairpol't, in Ohio, 54 miles; and uses 26 miles Portsmouth & Dover.-Portsmouth, N. H., to Dover, N. H., 1 t J Cl. Mt. V. & Del. RR., .\.Kron, O., to Orville, 0.; also owns entirt:l miles. Opened February 1, 1874, and leased for 50 years to Easteria s~o<:k of Trum._& Mahoning RR., Hazleton tiO Niles, 0., 15 miles; and of of New Hampshire at 6 per cent per annum on the stock. Operated Pitts. Northern., 4 milee; total operated, 398 miles. Leased lines a10 now by Boston & Maine. Frank Jones. President, Portsmouth, N. H. ope.r ated a~ c_ost and interest on l)onds advanced if necessary. After 6 Portsmouth Great Falls & Conway.-Owns from Oonwsr per cent dividend onP. C'. & Tol. tht\ P. & W. takes half the surplus, if Junction, Me., ro North Conway, N. H., 73 miles. The Eastern Railroad any. Sold in foreclosure June 8, 1887; new company orgaulzed June 25 in Massachusetts leases the road for 60 years from Dec. 1. 1878, according to plan in CHRONICLE, V. 44,Jl. 3:0. btoclr, commun, $7,000,- with a guaranteed rental of $45 000 a year, whlch pays 419 pe:r 000, snd pre~erred, $5,000,(IO(l, 5 per ct. non-cuwulath e; hoth lo $50 · cent on $1,000,000 bonds, and the stock is to receive the same dividend& shares. Voting power of stock will be exer1Jised tOl Jan. 1, 1892, by J. as the stock of the l1:18sees. LPSElt>es own $551,300 sto<'~Pierpont Morgan, J. L. Welsh and--. Forabstractofmortgagti{trusPrescott & Arizona Central.-Owns from Seligman on the tee, Mere. T r. Co.) see V. 45, p. 439. A.tlant1c & Pacific RR. to Pr1-scott, Arizo11a.. 73 m lea. Stock, $1,In &ddition to tl>e alJove indebtodness there werP outstanding Feb. 28 . 2t..O,OOO. Central Irust Co. of N. Y. is mortgage trustee. .F ive p. c. of '89, lE8J ,000 c,f old P. & W. 1st murt. uonds , due 1900; real estate m ort- net earnings e toh year accumulates as a sinking- fund; 1.Jonds purchased, gages for $189,435, and car trusts $143,028. • r,ot dra wn, at 110. Application t.n N. Y. Stock Exchange was given in For 13 mos. ending Marc,h 31, lt88, gross earnings of the three 1oans full in CHHo,:rcu:, V 48, p. 22a. From .Jan l to Nov. 30, 18 -l 9 (11 mos.), we1e *2 ,243,755; net. $ t 07, 83; i,urpms ovn interest. $16.t ,82 7. gross eal'llings were $117 ,108, against $96,b47; net, $76,627, agains, From Jar..uary 1 to Nov. 30, 1889 Ill months),grossearnings of entire $61,259. Ill J,fii-!:< /l.-rosR earnn,gs were $12:">,727; net , $77,025. T. 8. aystem were $2,002,485, against $1,8.'>2,763 in 1888 ; net, $7lt! ,367, Bullock, President, 42 Wall St.-(V. 48, p. i22, 123.) against $685,679. Vice-President, A. J. Thomas, N. Y. (V. 47, p. 140, Providence & Sprlngtield.-Providence, ~- I., to Pascoag, 23 745 V. 48, p , 609,686; V. 49, p. 471.1 miles. dtuck is $517,450; var $l00. In year ending Sept. 30. 1889, PltJsburg Youngstown &; A.shtabula.-Owns Kenwood, Pa.. grORFI earnings were $12fl,942; net, $39,72£; surplLlS over fixed charges, to Wampum June .. Pa, 13 11,ile:-; Lawrence June., Pa., to Ashtalmla, O., $3,772 . In 1887-o gross earnings, $118,664; net, $48,459; surplus 80 miles; Niles to Alliance June., 0., 25 miles; Canfield .Branch, 4 mile~; over interest, &c., $12/137. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE AL RICHMON D & WEST POINT TERMINA L CO. SYSTEM LINES CONTROLLED, " w«~ a RICHMOND & DANVILLE SYSTEM, WATER LINE, " II EAST TENN .. VA. & GA. SYSTEM, 11 CENTRAL OF GEORGIA WATER LINE, . TOTAL, 3,063 MILES " 200 1,614 2,269 300 7,446 MILES INVESTORS' SUPPLEMENT. 118 [VOL. L, Subscribers will conf'er a great f'avor by giving bnmedlate notice oC any error discovered In these Table.. Bonds-Prinol INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or Amount Rate per When Where P~ble, and by val,WhenDue Par Outstanding of For explanation of column headings, &c., see notes of Stocks-Last Road. Bonds Value. Cent. Payable om. on first page of tables. Dividend. Bateig h ,E A ugusta-lst mort., funding ...••...•... e* Baleign di Gaston-lat mortgage .........•....•.... c ---- --98 1886 $1,000 97 40 40 ll&J,d,ing <t Columbia-lat mort., (extended) ...••. c* 2d mortgaJ;{e. coupon (extended in 1884) .•.. ••... c Debentures . . . • • . . . • . . • . . . • . . . • • . . . . • . . ••..••..••. c Lancaster & Reading, lat M ......••............. c* ·15 lienssetaer <t Sara.-Stock, 8 p. c. guar. Del.& H.Can. 195 79 let mortgage. consolidated (for $2,000,000) .. o*&r Bichmond <t Alleghany-new lat M. reorg. certs .... .... Second mortg. reorganization certificates, gold . Bicll,.rE Dam,.-~d m. (consol. of 1867), Rich.to Dan. General mort., gold, Rich. to Danv. & branches .. 152 Debenture mortgitge bonds, income cumulative .. 152 Qmeol.M. ($15,000 p.m.),$or£.. ($14,500,000)o" 152 EquiEmen Trust bonds, gold.s.l.,ilrawa at 100.c* Nort western, N. C., lat m. ($15,000 p. m.),g.gu.o 38 Rich. York River& nnea.. lat mortga, ...•••••.•. 38 2d mort., Richmond to West Point, a. ..•..•..•. 'Stock rr._aranteed 6 per cent..... . • • • . • ••.••..... ·5·0 Wash. 0 .&West.-lat m., guar., .A.lexan.to R. Hill 50 Income mortgage .•....•......••..••...•..••..••. 50 Oxford & Clarksville, lat M., $15,000 p. m .••... c 81 Bich,.:Jred.tt Pot.-St'k, com. ($1,071,lO0div.oblig.) 81 Stock, guar. 7 p. c., exeept $19,300 guar. 6 p . c .. Convert.bond1:1,$129,150 5a,due1901, 6s&7s, l895 } 79{ Coup b'da {$48,687 are fia pay. J. & J. in London) .. Consol. M. for $2,500.000 ......••..••..••.••.•• . 23 Bich,mond ii Petersbur:fc-Btock ... . ...••...•.•••••••. , ,0neol. mortgage ($ · O,OOu are 7a) ........•....... 23 New conaol. mort. for $1,000,000 .••••...••.•••••. llickmond ,E West Pt. Ter. R. d W. Oo.-Stock .•••... 1:021 Preferred 5 per cent stock, cumulative .••..••.•... .... Collat. trust bond a, gold (redPemable at 105) ..•. c• .... i¥o f- ·a·a 0 1873 1862 1864 1877 1873 ..... 1871 1889 1889 1867 1874 1882 1886 1889 1888 1873 1880 iss4 1884 1887 ··-· i856 58&70 .... is15 ---· ---- iss7 1,000 lO0&o. 1.000 1,000 100 &c. 100 1.000 1,000 1,000 lOO&c. 1,000 1,000 1,000 1,000 1,000 1,000 1,000 100 .... 1:000 100 100 .... ---· ·ioo 500 &o. ioo 100 1,000 $1,000,000 1 ·8i8:888 350.000 l,G00,000 350,000 8,442,400 1,925,000 5,000,000 1,000,000 578,600 5,413,000 3,868,000 2,778,44.0 500,000 !'>70,000 400,000 500,000 500,000 1,250,000 625,000 744,000 2,208,200 500,400 164,520 408,687 1,000,000 384,000 50,602,492 5,000,000 5,708,000 -----J. & J. 6 Balt.. & Phil.Mech.N. Bk. .J. & J. Balt.& Phil.Mech.N.Bk. M.& 8. Phila.,Phil.& Read. RR. .J. &D. do do .... Last paid Dec., 1879. J. & J, Phila.,Phil.& Read. RR, J. & J. N.Y., Del.&H.CanalCo. M. &N. do do .J. & J. N. Y .. Drexel, M. & Co . J. & J. do do M . &N. N. Y. Office, 2 Wall St. J. & J". do do do do A. & o. do A. &O. do \{, & 8. do do A. & O. do do do J. & J. do M.&N. do do 3 J. & J do do F. & A. 4 do do None paid. 6 6 g. M:&·N. N. Y., Office, 2 Wall St. 3 J. & J. Richmond, Office. do do 3¼ M.& N . 5,6,7 J, & J. do <10 5 g. & 6 M.&N. Phila.,Town,Whel; Rich ·s½i .J••&.. J Richmond, Office. 6&7 M.&N. do do 8 5 5 6 7 4 7 2 to 4 2-3-4 6 6 g. 6 5 g. 5 g. 6 g. 8 6 .... ---· Jaii:·s·;·is9 0 Ma.y 1, 191 ~ .......... ........ Offlce:·2·wa11 St. Jan:·i<Cis9 0 .J.•&.. J. N. Y., 6 g. F. &A. do ··2~ Jan., 1926 Jan.1, 1898 Mch. 1, 191 2 June 1,1904 Dec. 1, 1917 July 1, 1893 Jan. 2, 1890 Nov., 1921 Jan. 1, 1989 Jan. 1, 198 9 May 1, 1890 Jan. 1, 1915 April 1, 1927 Oct. 1, 1936 Sept. 1, 1909 April 1,1938 Jan. 1, 1894, Nov. 1, 1 900 Ja.n. 2, 189 0 1924 1924Nov. 1, 1937 l,Jan. 2, 1890 Nov. 1, 1889 Jul. '95 & 1901 1890 & 1901 do Feb.1,189 7 Providence & Worcester.-Owns from Providence, R. I., to 16a (M. & N.). guar. dne No"\!:., 1937. Only $1,000,000 of the Wash. Ohio Worcester, Maas., 44 miles; branches, 7 miles; total operated, 51 miles. & Westt,rn bonds receive intnest. The stock is $5,000,000 (p:,, r $100), In May, 1888 , arranged to lease road to the N. Y. Prov. & Boston R.R. nearly atl owned by Rich. & W. P. T erm. and pledged under its colla.t• for 9~ years at IO per cent per annum on the stock, and road turnt-d eral trust ana preferred stock agreemem. over in June, 1889,extra-divldend 10 percent being paid June 29, 1889. Dividends since 1876 have been: In 1881, 5 per cent; in 1882, 7; in In 1888·9 grbsa earns. $1,388 .843; total net income, $505,284; surplus 1887, 3; in 1888, 5; in 1889, 10; in 1 890, Jan. 2, 5. over charges and 10 per cent dividends, $130,284. (V. 47, p. 800; V. From July 1 to Nov. 30 (5 months). gross earoiaga were $2,205,714, 4'8, p. 829.) agatnst $1,972,784; net, ~916,392, against $:324,766. Quincy Omaha & Kan. c.-Quincy to Trenton, Ill., 134 miles· . Fiscal y~ar will h.rEafter end June 30, and report for 9 months ~nd• Thfs Company is euccessor to the Quincy Mo. & Pacific s0ld in foreclos- mg June ... o, 1889, was ln CHRONICLE, V. 49, p. 759. For years ending ure and reorganized. The stock is $1,489,240 (par $100). In 1012 months Sept. 30 mcome account has been aa follows: ending Dec. :n, 18~8, gross earnings were $199,644; net $4c7,781. From rncOME ACCOUNT. Jan. 1 to Nov. 30, 1881:1 (ll moe.), gross earnings were $i~6,070, against 1884~85. 1885-86. 1886·87. 1887•88. $197,023 in 1888; net, $65,726, against $32,840. Total receipts .....•••..••. $3,999,147 $4,012,028 $4,355,161 $4,'169,825 .Raleigh & Augusta.-Owna from Raleigh, N. c., to Hamlet, N. c.,· Net receipts .••.....•...•. 1,767,661 1,890,475 2 ,067,304 2,329,774 98 miles; Hamlet to Gibson, 10 miles; leases Moncure to Pittsboro, 10 Rentals and intereatt .••. 1,483,097 1,467,658 1,482,518 1,576,278 miles: Cameron to Carthage 12 miles; total, 130 miles. Formerly Chat-----· ham Railroad, now controlled by Raleigh & Gaston (which o wns moat Balance ..•. - -... - . . . . $284,564 $422,817 $584,786 $,.753,496 ot the stock and bond a) and AO by Seaboard & Roanoke. stock is $873,- Construction, equip., &c.. 221,047 323,958 249,922 000; par $100. In year ending Sept. 30, 1889, gross earnings, $202,743; - · - - - --- - - · - net, $94,001 ; surplus (including other rer~ipts) over fixed charges, Balance, surplus.... . •••• $63,517 $98,859 $334,864. $753,496 $45,444. 1887·9, gross, $241,987; Il{,t, $88,978. * Included in operating expen11ea in 1887-8El. Kaleigh & Gaston.-Owns Raleigh to Weldon, N. c.:98 milea and 1 Including debenture~interest whether paid or not. Louisburg branch 10 miles. <.ontrol,1 Raleigh & Augush RR., 108 miles, -(. 48, p. 663, 688, 7 JO, 855; V. 49, p. 7 59, 789.) and has large interest in Durham & Northern RR, Hurham to Hender• Richmond Fredericksburg & Potomac.-Owns from Rich• eon, N. C., 42 miles: a.,d with Seaboard & Roanoke controls Carolina Cent.; also controls Ga. Car. & No. and jointly guar. tne oonda. Seab. & mond, Va., to Quantico, 79 miles; lease .. Quantico to Junction 2 miles. There are $ 33,363 7 l)erce11tdebtcertitleates due July, 1899, and$53,512 Roa. owns $742,200 ot the R. & G. $1,500,000 stock; par $100. Semi• annual dividends are paid at Nat. Farm. & Planters' Bank, Baltimore, 5 per cent certlficatea due in 1901 and 1902; also $150,000 8 p t1r cent bonds due in 1890. Iu Dec., 188 }, a consol. mortg. for $2,500,000 was April 1 and Oct. 1. Gross earnings year ending SeptemlJer 3v, 1889, $'19l ,348: net, $213,~0-1; surplus (including o ther receipts) over fixed authorized to provide !or prior bono a maturing, for extensions, double tracking, etc. Dividends of 7 per cent paid on common stock and divicharges, $194,417; dividend of 5 p. c., !fl75,000. Gross in 1887-8, $469,dend obligations in 1888 and 1889 and Jan. 2, 1890, 3. Fiscal year 4'58; net (including other r eceipts), $286,815. changed to end June 30. In 9 months ending June 30, 1889, gross, .Reading & Columbla.-Owns from Columbia to Sinlnng Springs, $502,4?4; net, $195,366. In year ending Sept. 30, 1888. gross earnings, Pa., 40 miles; branches, 16 miles; Lancaster & Reading Railroad, $b08,834; net, $236,826; interest and guar. dividend, $8i,206; surplus , leased; 15 miles; operates Marietta Junction to Chickiea, 6 miles: tota1 $154.620. (V. 47, p. 626; V. 49, p. 826.) onerated, 77 miles. Stock, $958,268 ; par $ 50. The road ia controlled KlchDlond & Petersburg.-Owns from Richmond to Petersburs; and operated by Phil. & Reading (which holds the above debentures), but accounts kept separate. In year ending Nov. 30, 1888, gross earn• Va., 23 miles. An issue or $1,000,000 bonds, t !l provide for outstanding obligations, for double-tracking, etc., was authorized in Nov., 1889. Inga were $312,769; net over operating expenses, $66,786; surplus over From July, 1, 1889, to Nov. 30, 1889 (5 months), gross earnings were tntereat on Lan oaster & Reading bonds, $42,287. $98,l!'i3, agaiust$86,569 in 1858; net, $26,•J97 ,against $14,864. Fiscal Rensselaer & Saratoga.-Owna Troy to Ballston. N. Y., 26 miles; year hereafter to end June 30. In year ending Sept. 30, 1888, gross \"Vbitehall, N. Y. to Vermoni line, 7 miles; Eagle Bridge to Rutland, earnlngs were $2 54 ,164, net, $85,416; total, net income, $98,185; sur • Vt., 62 miles; Saratoga. to Whitehall, 39 milee; branch, 3 miles-total plus over interest and dividends (7 per cent), $3,393. (V. 47, p. 626.) owned, 137 miles. Leases: Albany to Waterford June.. 12 miles; Sara.· KlchDlond & West Point Terminal Railway & Ware• toga to Schenectady, 22 miles; Fort Edward to Caldwell, 14 w.; other branches, 10 m.-total leased, 58 miles; total operated, 195 mi'ea. house Co.-(See Map.)-The mileage controlled and operated in Nov., Leased in perpetuity March 1, 1871, to the Delaware & Hudson Canal 1889, was 7,521 miles tincludmg water lines) aa follows: RICHMOND & DANVIT,LE SYSTEM.-RIChmond & Danville and Piedmoni Co., -which owns $1,600,000 stock; rental, 8 per cent on tln stock and RR., branches, etc., 229 miles; Richm'd York River & Ches. RR., 38 m.; tnterest on the bonds. . Northwestern No. Carolina RR., 50 m.; No. Carolina RR. and State Uni• From Oct. 1, 1888, to June 30, 1889, gross earnings were $1,60:i,IH8, RR., 2 33 m.: Atlanta & Charlotte Air Line R'way and branches, against$1,636,500 in 1887-8; net, $548,207, ao-ainst $518,284. In 1888· versity 388 m.; Virginia Midland R'way, 355 m.; Wash'n Ohio & Weat'nRR. 89, gross earns., $2,427,592; net. $864,4fl8; d'eficit uRder fixed charges, 50 m.; Weat'n No. Car. RR., 287 m.; Char. Col. & Aug. RR. and leased -dividends, etc., $86,575, against $176,357 in 18E'7·88. (V. 47, p. 140, lines, 373 m.; Col. & GrAenv. RR., leased lines and branches, 290 m.; 776; v. 48, p. 222; V.49, p.174, 826.) Asheville Spartanburg RR, 66 m.; Rich. & Mecklenburg RR., 31 m.; Richmond & Alleghany.-(See Map of Ohes. & Ohio. )-Owns from Georgia Pac. RaHway, 519 m .; Statesville & Western, 20 m.; Oxford & ,Richmond to Clifton Forge, 2.H mi1ea; branch to Lexington, 19 mi1es; Hende1aon, 13 m.: Oxford & Clarksville, 57 m.; other lines, 85 m.; total -leased, Buckingham RR., New Canton to Arvon, 4 miles; Valley RR. con - Richmond & Danvil.e system, 3,090 miles. •llectton, 2 miles; total, 256 miles. EASl' TENNESSEE VIRGINIA & GEORGIA SYSTEM.-(See East Tenn. Will be merged, pursuant to the plan of consolidation. with Chee. & Virginia & Georgia for ctetails.)-Total East Tenn. system, 1,603 miles, -Ohio. (V. 48, p. 527.) The lat mort. bonds with all overdue coupons CENTRAL RR. OF GEORGIA. - (See that Company) 2,203 miles. take new $1,000 first mortg. gold bonds bearing 2 per cent interest till WATER LINES.-Ocean Stt>amship Co., 300 miles, and Balt. Ches. & J&n. 1, 1894,and 4 per cent for 95 years. The R. & A. 2d mortg. bond" Rich. s. B., 200 milea-500 miles. take new 2d mortg. gold bends for !f250 oearing 3 per cent for hs90 and The C'.,entrai Georgia RR. & Banking Co. io controlled through the 4 f, r. 98 years; ali;o $125 in 1st pref. stock and $625 in new Chea. & stock of the Georgia Oompany, which owns a majori~y of the Central Ohio common stock. The new bonds are to be secured on the R. & A. RR. stock. l)roperty and to be direct bonds of the C. & O. Comoany. R. & A. stock Thia company was'incorporated by an act of the Legislature of Virginia having paid 10 per cent assessment takes new Chea. & 0. stock for 70 of March 8, 1880. It was the auxiliary corporation of the Richmond & ])er cent of its face value and C. & 0. lat pref. stock for the assessment. Danville RR. Co., controlling several stocks by ownership ol a majority. -(V. 48, p. 160,462, 527, 689, 730; V. 49, p. 21,539; V. 50, p. 37.) [n November, 1886, the Term1nal Co. purchased a. large majority of the ~lc~mond & ~anvllle.-(See Map Rich. d W. P. Term.)-The R.&D.RR. stock. $5,000,000 of pref.Terminal stock was issued, secured main lme is from Richmond, Va., to Danville, Va., 140 miles; branches, by the deposit in trust of 25,000 shar,e s of R. & D. stock. The report in CHRONICLE of Dec. 28, 1889 (V. 49, p, 863), showed l'Z miles: Danville, Va., to Greensboro, N. C.,47milea; Salem Junction, to Salem, 25 miles. The Virginia :Midland .l{R., Columbia & Green• what this company had of securities owned and what were pledged ville, Charlotte Columbia. & Augusta and Western North Carolina are for the trust bon,1s of 1887 and for the trust bonds of 1889. The Trust bonds of 1887 may be redeemed on notice at any time at leaaP.d for 99 yearR. Tl10 Piedmont RR. is virtually owned, also the Northwestern North Carolina. The Rich. York R.& Cheeapealie is leased 105. Bee abstract of mortgage, V. 45, p. 575. In March, 1889, the collateral trust mortga~e for $24,300,000 (trus. In perpetuity. It was proposed in 1888 to lease the East Tenn.Va.. & Ga. for 99 years, but lease was enjoined. In Nov., 1888, the Georgia Pacitlc tee Central Tr. Co. l was issued, $4,"00,000 bemg reserved to retire (if deemed advi.sable) $5,000,000 preferred stock, $5,fi00,000 for the col• was leased. For whole system operated see R & W. P. Terminal Co. In Feb., 1887, the R. & D. s t ock was mostly exchanged for Terminal lateral trust bonds of 18d7, $4,000,000 for the Georgia Co.'a bonfla, and in the proportion of four shares ol. Terminalfor one of Rieb. & Danville. :i!J,949,000 more to ts.lrn up the Eaet Tenn. 1st pref. and the Rich. & The interest on the Debenture bcnd.o was strictly cumulative and in ex- Dan. and Cent. of Georgia common stocks outstanding. The first issue -change for the overdue coupons new consol. mort. 5 per cent gold bonds of $5,000,000 went to pay off floating debt. The sinking fund of 2 -per were ~ivrn. Of the comol. mort. bonds of 1936 $10.720,000 were re- rent llegins Feb. 1, 1898, L1onds to be drawn if not purohaaa.ble at pu . ,served to retire tJrn general mort. 6s of 1915 and the debentures. Of the and bonds may be redeemed at par at any time on one mont h's notic,. Ox. & Clarkes. 6s due 1937 $264,000 have principal and interest and (Bee abstract of mortgage in CHRONICLE, V. 49, p. 115.) Dividends on preferred at,J ck h ave been: In 1887, 2111 per oon1l; in -$480,000 interest only guaranteed by Rich. & Dan. In 18::!9 endorsed 'the bonds of the Georgia Co. There are $111,000 Clarkeav. & No. Car. 1888, 5; in 1889, 5; in Jan., 1890, 219. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I RiO GRANDE WESTERN' RAILROAD !' on! . \... & BROAD GAUGE CONNECTIONS . 0 TIN Ml https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M K 0 20 INVESTORS' SUPPLEMEi'iT. [VOL. L, , ubscribers ,vill confer a 2;re at favor by glvin~ immediate notice of auy error dll!lcovered In these Tables. DESCH. 1l ·T[ON. For e:x.pla,nation of coluruu headings, &c., see notei:: on fi r s t pag,, of tahles. Riehm.& West P t.--(Om, t l-'Jon.eol.Tr,recl. at 100.c" i o Gra,nde Webter n- l s t t r u s t rnor t., 11olu . . . .... *c •Bhch.~ Gen eseeVal.- S.tock, 6% reJJtal !'\ .Y.L.E.& W. •Bo k Is/,e,n d <I: Peoria-Btock . .• •. . ••. .• •...•..• • . . •• . l.st mort g-age ..... .. .•. . . . .. ... .. • .. . .. •• . . ••...• . r Consol. 1st mortgage ~-- ···· . ..... .. ........ .. . ... 1 Bome -d': Deca1u r - 11,t m ort., go 'd ($15,000 p m .) . . . · mie Watertown & Ogdensb-urg-'otock .. . . . .. . .... lst.M:.,Wat. & R .· R om e to t 'n p e V1 n., ...f . n o to r'n .c• st M., W at. t o 0 /!d,&No r'd, s.f (2d lit:. on 95 u1. ) -~d m or t. (3d mort. on 1)5 miles) ... •. ... .. .... . .. cK • O>nsol. mort. , (extendecl Ju ly, 1882, a t 5 p. c.) .c' "f!yracuse Northern, ht lllO rt. (gold) . . . ... •.. .. . c• W. & Og. Term. RR. Co'. , sto..:k, 6 p. c. r e ntal . . 1st mo•t., ~ uar .. ... .... ... . . . . . .. . .... . . ...... C1' UJ' tic::t. k Bl. R i v.-8t'Jr;7p.c. p erpet. g u.byR.W.&O. 1st Mortgage . • • • . • • . • •............••••... . .... . c Bla•}k J:t1ver & Mornstown, 1st mortg1;1 i,re ...•. . c "-0:.ayton & Theresa., 1st mortgage, guaranteed c Ogut>ui;Ouri,, di Mut-ru1tvwu, .ll:!t wurtgage ...... <: ttlana-:3took, preferred .••. . . . ..•............ . ... . •General mort. (8 per cent. re(].uced to 61 .......... <· - 2d mort. in excll. for equipment bonds, &c ..... (' ..tf!Jagitiaw Valley & St. Louis.-lst mortg., coup ..... . · .(Jt. Joa~lmry & L . Oha,mplain,-lst M.,coup. or reg. CoRBOlidated mortgage (for $1,000.00U) . ..... . .. ·41t. Jo!ieph & Grand /,-l Rt M.,g.,int. guar.by U. P.e* ,:2d mortgage, income, gold .•••................••. c* Kan.U.diV,t:(.K.lst M.($t5,00Up.m.),~.• int.gu .c"'&1 :::st,. LouiS Att cf; 6prfou,-lstM.,g.{;f:lt,000 p. m.) .u* 2d mort., µ;old .. .... . .•..•.. . .....•... _...•......•. . Bt- L. Alt. & Terre Haute- ..,r~f. Atock (7 cum. 1. con . ll'!t M.(ser. A & -Beach $1.100 000 )i:i.f.. n,,tdr'n c* t Bonds-Prinol• INTEREST OR nrv fDJ<]NDS. Date Si ze, or l>al,When Due. A mount P ar R of ate p er Whe n Whe re P ayable, and b) Stocks-Last Road. Bonda V al ue . Out st anding Ceut. Payable Dividend Whom . Miles (Jf iii3 18 11 3 91 11 3 35 64 3 97 190 1 90 409 4 ;') 14 1-t 180 87 36 16 10 120 120 120 36 120 120 252 252 196 87 436 207 1889 $1,000 $ .3 ,70 -l ,00 l lt8'J l,OUU&c l'-' , 7f> 000 100 55!'i,ioo 1 ,500,000 2 5·.ooo 1 50,000 5,000 4 !'i0,0 00 1885 1,000 6 :'iO 0 00 l f,6 100 5 ,1) 9 1,70 0 18!'>5 10•1 NI . 417,8 00 1 ,0 2 1,50 0 1 861 500&c. 1,000 1 ,0 0 0,000 187 2 1 ,000 6,~89,000 1 874 1,000 500,000 1871 100 250.200 1,000 375,000 1E88 100 1,103,000 500 & c. 1,107.000 1874 f>OO 01c. 500,000 200,000 1873 500 &c. 1,000 143,000 1883 100 4,ouo,ouo lOO&c. 1,500,000 1,500,000 1878 100 &.c. 1,000 446,000 1872 1,000 628,000 1880 1,000 400,000 18M 1,000 6,9 · 4,000 1885 1,000 1,67J.OOO l98n 2,till6,5 'J0 1887 5UO &c. l,OCO (1) leS7 ('!) 1:389 "ioo 2.468,400 1,000 2.200,000 1862 i878 is7i i872 The prices of common stock have been: In 1881, 122@ L74½; in ;-1882, 23@263; in 188J, 21@.~9; in 1884, l '2@32: in 1885. 183s'al 4314; in 1886, 271411,77.14; in 1887, 203s1li53; in 1880, 19 @29 34; in 1889, 912@27:\; in 1890 to Jan.17, inclusive, 2U½a1112~¼. Prl:lf1 rn:u in b87, · 43®87½; in 18~8, 55ib:17¼: in l~e9, 'i6@o4¾; in 1890, to Jan. 17, >· elusive, 77 ?t, 781sl. The annual re1'lort ror year endiTIU Nov. 30, 18F9, wqs gi,eu at length ·'in V.49,p.788,862. (V. 4~,p. 190,209,261,369,634,663,764, 79~; 'V. 4.9, p, 115,874,471,788, 862.1 Rio Grande Western.-(See Map.)-LTNE OF ROAD-Colorado 'State Line to Ogden, Utal.l, 311 miles; Bingham .runetion to Alta, 18 miles; Bingham Junction to Bingham, 16 mt es; P. V . .Junction to coal mines. 19 mllee: other branches, ll 1rnles-tntal. 373 miles. The Rio ' Grande Junction Rtlad of 64 ruile11 trtves a thrOUJ!h conuection of stand·•·ard gauge <,Ver the D. & R. G. or the Colorado Midland. This company WM formed in June, 1~89, pursuant to the plan or !'March, 18ti9, for widening the ,raup-e and retiring old se<·urities "WI.th new issues. See V. 41", p. 4i!9, This plan provided for t11e issue .,f a new first mortgage for $16,000,00U at 4 per cen~, of wWch $6,900,000 to be exchanged for the old bonds. $5,51 ,0 .000 for widening , ..the gauge and for equipwent, bettermeIJt"', &:c., and $3 ,tiOO,OOO reservea '. :for futuic use. (See abstract or wortgage in V. 49, p. 2 :,7, aid state• ~.:ment to New V'orK Stock Exchauge iu full 1n V. 50, p. 73 l <Jowmon , ~tock ls $7,500,000; preferred stock authot·1z1>d, $i,5UO,OUO; outstand<ing, $!, 7iit>,~O. Prderretl stock 1s entitlc:d to 5 p ~r cent dividend, . .non-cumulative, then co 1Jmon etock to 5 per cent, after whiuh IJvth classes of stock ware eq 11ally. From Jan. I to Nov. ~o. 1889 (11 m0s.), gro~s earnings were $1,373,· •QIBI, against $l,245,7a6 in 181'!8; net, $J32,,8 t, ag-ainst $353,23!. In 1888, groas earniogR, $l,3ti9,8Ul; nt"t, $378, Lo.!; su1·p1us over barges, $114,86'5. (V. 48, p. 420, 4-'9, 526, 556,688,800,855; V. 49, { J). 23, 115, 208, 580; v. 50, p . 73 .J Kcchester & GP-ne•ee Valley.-Owns from Avon to Rm~hPRtPr . Y., 18 miles. This road was lea.Red July 1, 1871, in pen etuity, to QCr1e Railway, and nowoperated byNewYork Lake Erie & Wtii;~ti1·u. ._.nta1, $34,012. James Hrackett, President, Rochester, N. Y. £' Rock ,l•land & Peorta.--Owns from Roe& I.,hrncl, Ill.. to Peoria, ·'Ill., 91 nnles; Rolk lislano & Mer,·er Co. RR., 22 n ,ileE-; total, 213 mile-. ~'The .., eoria & H. 1. was sold in foreclosure Aplil 4, 1877, to tht-11.londoldf rs. In the year endiug J uue 3u, l o 89. groi-s earnings wt:re $5 ,2,· .:374.; net, $223,Wi'O; surplus over 5 per eeut dividend, $10n,67o. •- ~<IOftle & ~eeatnr.-Owns from Rome, Ga., to Attalla, Ala., f5 ,.:;nlles, and proJectea 1 o Decatur. Re<'t-ivn'a certifteat... s for $400,00u ii,1,ued to oom1•lete und equip the road to Att1;1lh1. Wi,s iso ld in :4oreo os11re Dtcembet· 18, lt!89, to I. B. Newcomb & t.,O., f , r ::j;tj3t,OOu. ~ n e Kelly, .Prei-ident, N'ew York. (V. 46, p. 371; V. 47, p. 3o:.l; V. ~4.~ p. 223; V. 49, p. 174, 6!10, 826.1 ~ome Wa~eirto,vn & Ogdensbnrg.-Nlagara Falls to Massena ftprmgs, 301 miles; · LtnytRron Junc1iou to Lt'wis t , n, 4 wues; Syr1;1cu.;.'tio Pulaski, 37 miles; R1('hla11d 10 Rome, 41 miles; 1Vatertown Junction ;iio Cape VincPnt, .!4 ruilet1; DeKalb ,lllllction to UlldenRburg, 19 miles; : R~ht'.kter to Wmdsor l{each, 7 miles; Wood vard's to OswPg-O, 29 miles; • Ut1c<1. & Bla<'k River RR., Utica to Ogdensbur~. 13-t wiles; Cartl.Jal!t' to Sacketts HarlJor, .30 ruiles; Theresa Junction to Clayton lo miles· ot&L. 643 miles. ' , ,,.. · Die Rome WateYtown & Og<leni-burg fn 1887 obtflinPd a m jnrl:y •of 1ihe-et<ck of the Utica & B la<·k Rivf'r in ex,·hange for the lei-s1-e'<1 stocli • and bonrls. The Uti<-a & .Black Rivt-r i-.to(·k so obtalnt><i i,m .. unts t<• 0 $1.,12-0, 1-00an!l li:i a<lditional to that gilen aboveasouu,tanding. Tbe Tental -of Utica & Btfl('k River iH g1mra1 teed to be suttlcleut to pa) llntel'eSt on bo1.1d, 1w11 7 per· <·enL on •tuck. The Oswel(o & Rome wa~ eased .Tan. 1, 1866, The Niagara Fal11; Bnmeh road was leased Nov. 1 .a88I.. and all but $7,0t,0 or its $250,000 stock i~ OWr>ed. ' · Tllt:re are also outs ,andin~ $100,000 Oswego RR. hridge 6 per cent 't><mds, due Feb. 1915; _$L , 5,000 Syracuse PheLh & O,iwego 1st m01t. · -tis.,-dueFeb. 1, 191:'l, and $ 130,000 NLrwood & Montrt at, Ji:it m rt. 5s, Bedl.}.lril L, 1916. Tbe uarthage Watl:lr,own & Saekett·~ HatlJvr RR. leased for 3712 per cent of'its grost; earn ·n !! s. • ividends fn l 887 to I 889 '6 pe1· cent yearly; In 1890, Feb. 15, 3. ~m. Oct. 1, 1889, to Dt'.C. 31, 1_8>-9 (3 nwntltR). grosi:i earuings, partly , timatt d, were $rl71,37 7, a µ. aitist $,1-0,634 in 18~7-8; net, !14tH,~05, ~at11t1t :¥41);, ,0J-l; s11rp. ov1:1 · tlxe,l unarge:a, ,SZU4.8~0, RgR ,. $142.~~~-Fi8Cal year .-nns Se te111ber 30. RepoL t for 1'!88-.:,9 in v. 50, p. a6. 'i:Eall.'nwgt; were 11s folwws: 1885-86. 1886-37. 1887-88. l 8F8-8~ ;TotalgrosHarnings ... $2,4.06,7~3 $; ,131",4-. 7 $3,328.315 $3,4.77,173 Net tacom e. ........... $941,243 $1,319,840 $1,317,2:L8 $1,3-!7,4He Drouct,- , 11:nte,..-st and rentals... $693,480 $919,:'51 $-28.f,142 $91(),~44 ividcnds........ •••. •. ~7o,82a 32, ,8ii-! 343,785 ""'el'6 Total . • •• .•••.••.... $693,4.tO $1,196.376 $1,211,9i6 $1,254,62~ .surplus . ••••••.•••..••.• $247,763 $123,464 U35.~52 $92,86g -(V 47, p. 188,664,690; V. 48, t,. 36, ~60; V. 49, p. 2J6, 690; V. 50, . 36.) Bulland. -vw Til'I from 'RPllnw'FI 'Falls, Vt., to BurHTI•-rtnTJ. Vt,., 120 m .ftls road has been tL.,..oup:h many chang-PR. Ttwat> l• ased to the Cent. Vt. .m. Dec., 70, tor 20 :rears, but the lessee became lnsoivt:nt, w.i.d tl..nally a https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- - - - ----- \{. & Fl, N . Y .. Offi cP, 2 Wa ll Ft. ~ g. .r. & .r N . Y . , F ourt,h Nat. Bank . J. & .T. N. Y.,hy N.Y L.E .&W.L:u 2½ .r. & .r. N. Y., Cor n Exch. B a nk . 10 J . & .r. do do .r. & J. do do 6 6 g. .r. & D None p ai cl . F . & A . ~- Y. Offi cP, 9o B'dway . 3 M:. & s. ~ - Y ., Ven tral Trnst <Jo . 6 J. & D . do d 1J 7 f. & .r. 7 do do A.. & o. 5 do do J. & .r. 7 do do F. & A. N. Y. Offi ce, 5 P ,ne St. 3 M.& N. 0.0 do 5 3~ M.& s. N . Y., R. W. & 0. Co. l. & J . N. Y . Cent. Trust Co 7 f. & J . 7 do do r. & J . 7 do do 5 r. & J . do do 1 Rutla11d, Clem. Nat.Bk. ¥1. & .N. Bos.,Globe~at. Bk &Rut 6 B'. & A. 5 do do if. Jo N. Boston, C. Merriam, Tr. 8 gg. \. & u. Rost., Am. L. & Tr. Co. Q.-.J. Boston. 6 g. ll. & N N. Y., Central Trust Co 5 fI, .J. & .r. do do 5 g. .r. & .r . dn do 5 g. M.& s. New Y01k. 6 g. 1 N'. Y ., utt:lce,18 Broad St. Va.r"°IC)UR 7 do do 5 g. l\Ia,r, .July J :m. J an . .Ta n. Jan. J, 1914. 1, 1939 l, 1890 1, 1890 1, 1900 1, 1925 D P<', 1, 1926 .Ft' b. 15,1890 Sept. 1 , 1910 D ec. 1. 1891 Jan. 1, 1892 .Tuly 1, 1922 .Tnly 1. 1901 Feb. 15,1890 .May 1, 1918 Sept. 1889 .Tan. 1, 1891 Jan. 1, 1894 July 1, 1898 Jan. 1, 1891 Jan. 1. 1890 Nov. 1, 1902 Alli?, 1, 1898 1\lay l, 1902 Oct. 1, 1910 April 1, 1914 May 1, 1925 July ,, 1925 Jan. 1. 1927 1918 .rune 1, 1909 J,iTJ, 10. 1889 .July 1,1894 o:.odifl.cation of the lease was made, giving $'250,000 per y~ar aR a minimum rental Rnd $S,000 for or1?ani~at-i0n expcn~oi>; but in l8S7-88 leir retained $18,000 for taxes.which led to legal procePdtngs POW pendin~. The 5 r.c. 2ds are a first mortp.". on rollina stock ::i.nd f'il""nual property. Comruon stock is $2,480,600; (par $100), of which in Nov., 1887, the Del. & Hud. Canal purcbaseil $1,500,000. Dividenof,I on 1,referred i;tock ~ince 1876 have bt't:!D: In 1881, 112 per CPnt; in 1882, ~; In 1884 aud 1885, l; in 1886 and 1887, 112; tn 1888, 1; in 1 889, 1~; in 1890, .January 1, 1. :1 ee Saginaw- Valley & St. Lonls.-Owns from Ithaca to Pains. Mich., 36 mile11, and leases Alma to st. Louis and Pains to Saginaw. 9 miles; total, 45 miles. Opened .Tan., 1873. Stock. $264,804. par $100. In 1888, lll'Oss, $103,934; net, $23,942; <lefieit under interest, $11,738. [n .July, '79, management was transferred to the Detroit Lans. & No. st. Joseph & Grand Island.-( See Map of Un. Pac.)-Lineofroa.d Bt. .To,eph, Mo., to Graud Islant1, Neb., 252 mi es: Kansas <'ity & Omaha RR .• Stromsburg to Alma, 151 miles, and McCool June. to Ka.nsll.s City& Omaha June., 4-1 miles; total, 447 m. Tlns company wa.s organized in .rune, 1885, as sueces,:or of the St . .Joseph & Western, sold in foreclosure. and includes alRo the Hastings & Grand Island RR. and the bridge at St. .ro11eph. The road is opernted by the Union Pacific, wnich owns $2,301,500 of the $4',600,000 stock (par $1'10), an<l guarantees the interesr on the first mortga!le bonds. Kansas City & Oruaha bonds bave interest guar. by St. .r. & Gr. I. and U. P. under a perpetual agreement for operating- tbe road. Tbe Union Pac>-. owns $1,182,500 bonds and $1,725,375 of the $4,275,400 stock of th~ Kansas City & Omaha and s ,. .To, eph & Grand Island owns $4.Ul,000 of the bonds anrt $309,750 ~toclr. From .Tan 1 to .Sov. 30, 1889, gross earnings were $1,105,433, ag~inst $1,046,432; net, !1137~, 173, against $310,403. In 1888 l?l"OIIR earrungs, $1.0ll,110; net, $~78,361; deficit under interest, etc., $1,082. -;;:-Louts Alton & Sprlngfteld.-Owns BateP, rn., to Alton, Ill., R7 wiles. Uist'R Wabash tra('k to Spl'ingneld, 13 mill's, " lit road. to be built to that point. Stock autbotized, $1,500,000; par $100. Trustee or mortgage, ~·armers' Loan & Trni.t Oo. St. Louis Alton & Terre Haute.-(S'ee Map).-Owns main line from Terre HauLt>, lnd., to East St. Louis, 193 miles; proprietary line, East St. Louis to Belleville, 14; leases-Belleville & Sout hern lliinois RR .• Belleville to Dll Quoin, Jll., 57; BellevillP & Eldorado RR., from Ou Quoin to Eldorado. 50; Belleville & CaronnP-11-1·~ RR., from Belleville to East Carondelet, 17; St. Louis Southern. Pinckneyville to Carbon . da.Ie, Ill., 33: Carbondale & Shawne{'town, C,i,rbondale to Marion, 18; CI.Jic. St. L. & Pad., Mal'ion to Paducah, and br., 5 t m.; total, 436 miles, of wbi ,u the compa.nv operateR ouly 243 miles, the main line, 193 miles, havin2; been 1eased Nov. 1, 1882, to the new IndiaJ11t'Jl. & St. L. Railway and the Cleve. Col. Cin. & Indianapolis jointly. This company was a reorganization, Feb. 18, 1861. of the .Terre HR,ute Alton & St. Louis RR. Inte rest on 1st mort., series "A," is 1 e.id .r. & ·J.; sel'ies "B," A. & O .; on 2d roort., series ••C.'' F. & A..; SPries "D," M. & N. The Bellev. & So. Illinois is leased to thi11 company for 999 yea.rs from Oct. 1, 1866. Leaso rental 40 per eent of gross earniflJrS up to $7 000 per milEi (except on coal, &c.), 30 per cent above $7.ClOO anrt up to $14,uoo per mile, and 20 per cent on any excei:is of $14,000 per mile. II.terest on bonds, and sinking fund of $5.000 per yeiir. guaranteed tw Jei:iRf>t>F>. Common sto c·k or Belle. & So. Ill., Is $430,000 and preft'rred $1,275,000. and dividends on preferred stoek ~ince 1~80prior t•• cnrrent year have been :-4¼ in 188 t; 5½! in 188 t: 614 in 1883; 519 in 1884; 5 in le85: 5 in 1886; 6:\& in 1887; t !li, in 1888 ,wd lfl89. The Bellev & Carondelet is Jeai,ed for 933 years from Juue, 1883, at a rP-ntal of $::l0,000 per year, which is a guarantee of int. on the bonds the stock of $500,0UO beini( owned by the St. Louis A. & T. H. The Bellev. & .E ldorado iR leased for 985 years from .July 1, l 880, at a rP-ntal of ::lO per cent or the IITOSFI earns., but $15.400 per year guar. Stock $1,000,000 ; par $100. The St. Louis Soutbe,n RR. is leased for ::180 ·y pars tor 30 ptr cent of l,!TOSS eHrnings. minimum to bc1 $32,000, ,nd · int. on bon11s being guarnntt ed to that ex v nt; the Carb. & ' hd,wnee RR. is leased for f/80 years 1or $LO.OOO a year, and l11t. is ~uar. Tbe Chicago St. Louis & Pa1ucah road i~ leased for 978 years fr, ,m Marcb, 1888, at 30 per cent of grosi:i earnin,2;s, with .rual'antee of rentRl to pay 1st mortga~e 1D1e,eRt. (V. 47. p. 801.) The t,-t M. bonds on tbis ro11d are redeeruaole after Sept. J, 1892, at 105. Tlle rent received for mam line is $450.00u. unless 1he j,!Toss earni.n~ exceed $1,750,000 iu auy year ending Oct. 31, and then 2Q per cent 1s to hf\ pairl nf t,hP, eX<'PflR o1 IITOFIS earnings over $1.750 OllO. Dec. 31, 1888, sin'king fund held ot the first mortgag-c:1 'hoTidFI $1336,000 1h1cturted a • ove) on wbicll n 1 Pr•·st is pa10. and $478,936 <'asb. The ~inkit1g fund rm• :fir,-t mor gage oonrs is $~5.0l O I tr a1Jnum. H bonds. ,• an he bongbt at 110 allli iuterest; otherwise lapseR. Tlte dividend noni\ term~ were In V. 48, p. 389. The preferred stock bas a prior right to a cmnulative dividend of •, per cent bt-·fore any is deC1lared on ~01nmon . It is al"o convertible into common at par. Common stock ii $2.301',000; par no,,. 1>1vlrlends on prpfp?Tfd stoc·k sinc>e 1876 ha,e been n 1878, 2 per c>ent; in 181'11. ::l ::md !\5 n bonds; from 1882 o 18~5, inclusive, 7; in 18'-6, 2½!; in 1887, nil m l~h~, 114: in 1889 , l ' F,·,,m Ja,,. 1 m Or•t. 31, 1 889 (10 m 1.nrllsJ. ~-ross earning3 on all except the m>1i11 )iTie were $8!J9,!>16, agaimt $760,775 in 18~8; net $378,819, a_g-At11st $316,565. Tlle annual report for 1888 was in V. 48, p. 897 1 JaNUARY, RAlLROAD STOOKS AND BONDS. l t ~O.j (/ ST• LOUIS, ALTON AND llari,son ~ TERRE HAUTE R, R. Graod Tower AND LEASED LINES. COMPRISING 'l'HE BELLEVILLE 4 CARONDELET, BELLEVILLE & SOUTHERN ILLINOIS, BELLEVILLE & ELDG>RADO, ST. LOUIS & SOUTHERN, CHICAGO, ST. LOUIS 4 PADUCAH. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis / -------- City ency N QY-0 '< 0 00tt J)IJ& 0Jtt MAP OF THE -4> CONTINUATION OF THE ATLANTIC & PACI RAILROAD AND CONNEUI'IONS. Rec.uced Scale. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ST. LOUIS & SAN FRANCISCO RAILWAY RAILROAD STOOKS AND BON~lS. 18W. l JANUARY, Subserlbers wlll confer a great favor by giving lrnmed.late notice ot any error discovered In these Table•. DESCRIPTION. For explanation of column headings, &c., see notes on first page of tables. Bt. Louis Alt. cf: Terre Ha1it~( Oontinu edJ - 1Joru,t,s-t'rino1i INTEREST OR DIVIDENDS. Miles Date Size, or pal,When Due. Amount Pai· Outstanding of of Rate per When Where P-Miable, and by Stocks-Last om. Cent. J?ayable Road. Bonds Value. Dividend. - - - -· 2d mort., pt•ef. (series C & D, each $1,400,000) .. o· 207 2d mort!age, incomes . .••...•.... . ........•...•. c* 207 Dividen bonds, income (see terms,,. 4.8, p. 389> Eelle. & So. Ill.-lst M. (int. guar.) s. f. not dr'n .o* .56 ]7 Eelleville & Carondelet,lst m.,Belle.toE. Caron.o* 50 Belleville & El Dorado-1st (int. guar) ...•...•.. c* 50 2d mortgage ........•. ·......................•... o* 33 Bt. Louis Southern-1st M., gold, int. guar ...•.. o• 33 2d mor~. income, non•cumulat1ve ............ c* 18 Carbon ai6 & Shawneet'n-lst M.,/1'..,lnt.guar.c' 54 Chio. St. L. & Paducah, lstm.,g, r'd atl05~uar .c► 54 2d mor t gage, gold, income (non•oumulative) .. o• 8t. Louis Ark. cf: Tex.-lst M., gold ($13,000 p . m.).c~ 1,262 2d tine. t ill '89, see rem.,, g., ($13,000 p. m.) ... c • 1,262 Bt. Louis d\ Oairo-lat mort., jnt.guar.,M. & o. g .. c 161 50 Bt. Louis&\ Ohicago.-lst mortgage ..••...•..••.. . o* 70 Consol. mort., g. ($20,000 p.m., ................. c.. 85 Bt. Louis d\ Hannibal-lat mortgage ($600,000) .. c Bt. .l,ouis d. San .Erancisco.-Stock, common .••...•. 1.451 Preferred, 7 per cent, not cumulative............. l ,4 51 1st preferred, 7 per cent, not cumulative ...••. . ••. 2d mort. (now lst),A, gold! (Pacifl.o to Seneca,o.. 294 do B, gold Mo., & ':>ra.nohes, o• 294 do c* 2!14 294 miles do C, gold do Eqtllp. mort., gold, $80,000 dr. ann'llJ;· at 105 c* 1st on Mo.& West.RR.,g. $5,000 yrly r. at 10 5 o* ·1,"2 Collateral trust bonds, gold,sink. fd. not drawn.c• 103 St.L.Wioh.& West., 1st m . red. at 105, g., guar•. o"" 145 Gen. M., p:.(lst on 365 m.) ($7,7~7,000 are 6s) .. o~ 990 55 Collat.Tr.M. on br'ohes ($20,000 per mile), gold,o* Equipment Trust ($23,000 due each A. & 0.) .... . Kan. C.&S.W.,1stM.,g.. r ed.at l H ($12,000 p .m.)o• . 62 1862 $1,000 1,000 1862 1,000 1881 1,000 1866 1,000 1883 1,000 1880 1 ,000 1880 1,000 1886 1,000 18 36 1,000 1887 1,1)00 18,<7 1,000 1887 1,000 1886 1,000 1886 1886 500 &c. 1,000 1885 1,000 1887 1,000 1886 100 100 . 100 100 &o. 1876 500 &c. 1876 500 &c. 1,000 1881) 1,000 1879 1,000 1880 1.000 1879 1,000 1881 1,000 1887 1,000 1884 1,000 1886 ·--· --· is76 The Cairo Short Line Division, which includes the roads dlrectly oper• ated by this company, makes the following exhibit: EXPENSES AND RENT OF LEASED LINES. 1888. 1887. 1886~ 1885. Gross earnings .....••..•••.••. $766,316 $803,990 $962,480 $949,307 548,511 521,079 Oper. expenses and taxes . . . . 397,347 408,895 EARNINGS, ---- - - - - - - Net earnings ... ••..••..••. $868,969 $395,095 $441,401 $400,796 255,883 249,9 36 214,482 Ren~ of leased roads ..•...•.. 203,381 --- --- · --- N ~t revenue ..•........... $165,51'8 $180.613 $185.518 $l50,S60 -lV. 45, p, 166,273: V. 46, p 537, 707; V. 48, p. 372,389, 397, 855.) St. Louis Arkansas & Texas.-Road extends fr"m Birds Point, Mo., opposite Cairo, Ill., to Texarkana, Tex., 418 miles, and thence by the Texas road to Gatesville, 305 miles; total, main line, 723 miles; branobes, Paw Paw Junction to New Madrid, 6 miles; McNeil to .Magnolia, 7 miles; Mt. Pleasant to Sherman, 110 miles; Tyler to Luf. kin (narr ow gauge). 89 miles; Corsicana te H11lsboro, Tex., 40 m.; Com• merce to Foit Worth, 97 m.; Lewisville, Ark., to 8hrevepo1t, La .• 60 m.; Altheimer to Little Rock, Ark., 41 m .; Malden branch, D exter, Mo., to Delta, 38 miles; total, Jan., 89, l ,2l19 miles. The road in Texas was foreclosed Dec. 1, 1885. 'lhe Missouri & Ar• kansas Division was · sold on Feb. 27, •1886. Tbe present organlzatH,IL consists of two corporations. The stock issued by the Missouri and Ar· kansas Company was transferred to the Texas Company, which latter has issued its own stock for the sawe. Till 1891 the control of the en· tire road was vested in five trustet-t!, and for this purpose the stock de_posited with a trust company. For stock so deposited neg-otiable certificates rue issued, and designated as "stock trust cel'tifl.oatea," which are Usted at the Stock Exobange. The stock is $16,386,000, Equipmentnote3 Jan. 1, 1889, $2,025,718. The l st mortgages of the companies in Missouri and Arkarn,as a.nd in Texas a.redeposited with the Central Trust Co. and the 2d mortgages on both divisions with the Mercan tile Trust Co., a.nd each of these trust com panles has issued against these mortgages so held its coupon trust cer. tlficates for $1,000 each. See mortgage abstratts jn CHRONICLE, V. 45, p. 644. Supplementary mortgages extend lien to various branches. In May, 1889, the coupons were d efaulted in part, and Mr. S. W. For• dyoe, tbe President, was appointed R ceiver on May 13, 1889, and in June A. H. Swanson, co•receiver. ln August about ;f540,000 certificates were authorized, subject to Court's approval, for stet! rails and for labor and supplies claims. (V. 49, p . 236.) F. P. Olcott, Cent. Tr. Co., fs cI?-air~an or bo_ndbo_lders' committee, and the proposed plan of r eorga01zat1on w as given m the CHRONICLE of Jan. 18, on p . vii. of adv'ts. under whi<:h the property is to be foreclosed and n ew securities issued as follow s: 1 st mort., 4 per cents, $20,000,000; 2d mort., 4 per cent in.· comes, $8,000,000; pref. stock, 5 per cent non•cumula ,ive, $20,000,000, and common stock, $16,500,000. Report tor 1888 was in CHRONICLE, V. 48, p. 588. Gross earnings in 1888 were $3,050,423; net, $21,926, after large payments for better• ments. (V. 47, p. 22, 188,382,383,402,432,690; V. -18, p. 70, 588, 601,634,663,730,800, 856; V.49,p.52,207,236,270,301, 690,78 9; v. 50, p . 72, 107.) St. Louis & Calro.-Thisroad extends from Cairo to East St. Louis. 152miles, with a branch to High Prairie, 9 miles. The form.er Cairo & Bt. Louis made default April 1, 1874, and was sold in foreclosure July, 1881. Stock is $6,500,000. Cn Jan., 1886, a lea se was negotiated tlll Jan.1, 1931, to the Mobile & Ohio RR. on the basis of a rental of 25 per cent (160640) of the gross revenue of the whole line, Mohile to St. Louis this rental being guarant'd by the lessee to amount to $160,000 per year ' St. ;i.ouls & Chlcago.-Owns from Sprin~:fl.eld to Litchfield, Ill.; 50 miles, a nd branch to Mount Olive coal fields, 10 miles· other branches 10 miles: total, 70 miles; projected to Eureka, lll., to'a June• tion with the new l.:cll . lme. From Lltchfl.eld to St. Louis trains run over the C. O. L'. .& l • . ::acks, 57 miles. under a traffic agreement. Total operated, 127 mile8. De~« a~t was made on Jan., 1889, coupons. In June a decree was .made ~antm.,_ tn-iorities as per statement v. 48, p. 800. Sale of main line was made Om,. 4 to A. H. Joline fo1• the committee, and branch of 10 miles is to be sold l!'e ,•. 5, 1890. (See proposed plan m v. 49, p. 270.) Stock: Common, $1,'200,000; preferred, $1,200,000; par $100. (V. 47. p. 109; V. 48, p. 68, 730, 800; V. 49, p . 83,270. 511, 654, 761; v. 50, p. 72.) S1. I.oul8 & Hannlbal.-Owns from Hannibal, Mo., to Gilmore, on Wabash St. Louis & Pacifl.C', 82 miles; uses 2¼ mlles Missouri Pacitto track; total opera-t ed, 84½ miles. Thia company is successor to tbe forne! St. Louis Handbal & Keokuk, sold m foreclosure Dec. 8, 1885. Stock 1s ~l,000,000 authorized and $!52,000 issued; par, $100. Gross earnings m_1887, $14.4,681; net, $31,325; surplt1s over interest, $591. John I. Blair, President. No late information. (V. 46, p. 413.) St_. Louis & San Fra~clsco.-{ See Map.I-LINE OF Ro.A.D-St. Lolls, Mo., to Seneo_a, 326 miles; Pierce Ci~ to Wichita Kan., 217 m.; Monett, Mo., to P aris, Tex., 303 miles; Sprmgfl.eld to Chadwick Mo. 35 miles; Sprb?-gfleld to Bo~"."ar, Mo., 39 miles; Girard, Kan., td Gal~na, Kan., 46 mile; Fayetteville, Ark., to St. Paul, Ark., 33 miles: J ensen to Mansfield, Ark., 18 mue.l:l; small branches, 26 miles; total, owned December 31, 1~8~, 1,044 miles. Leases, Cuba Junction to Salem and br!i-nohes,_54: miles; Beaumont to Anthony, Kan., 121 miles; branch 2 mp.es_; W1oh1ta to Ellswort.lJ, !- 07 miles; total owned and leased l,32~ miles, the tracks of the Atchison Topeka & Santa Fe are used from Wi• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $2,800,000 Various 7 1 ,700,000 M.&N. 7 1,357,000 June 1 6 1,030,000 A. &O. 8 485,000 6 J. &D 220,000 J. & J. 7 330,000 F. &A. 6 4g M. & S. 550,000 5'25,000 M. &S. 5 250,000 4 g. )f, & 8. 1,000,000 5 g. M.& e-. 1,000,000 5 g. M. & 8. 16,409,000 6 g. M.&N. 16,409,000 6 g . F. & A. 4,000,000 4 g. J. & J. 500,000 6 g. J. & J. 900, 00 6 g. J. & J . a90.ooo J. & J. 7 11,359,::JOO .... ."i' IQ-Jan 10,000,COO 31.g lf. & A. 4,500,000 6 g. M.&N. 500,000 2,766,500 6 g. M.&N. 2,400,000 6 g. M.&N. 44.0,000 7 g. J. & D. 1,084,000 6 g. F. &A. 1,188,000 6 g. F. &A. 2.000,000 6 g. M.& 8 . 20,0R2,000 5 &6 g. J. & J. 1,099,000 5 g. A. & O. 2J4,000 6 g . A.. & o. 74,tOOO 6 ~. J. & J N. Y. Offlce,18 Broad St. July l,189~ o dv July 1, 1894 ltv no After Jan., '94. do do Oct. 1, 1896 do do June 1, 1923 do do July, 1, 1910 do do Au~. 1, 1920 do do Sept. 1, 1931 do do Sept. 1, 1931 do do March 1, 1932 do do Sept. 1, 1917 No coupons paid. SE!pt. 1, 1911 Last paid Nov., 18rl8. May 1, 1936 See reruarks. May 1, 1938 N. Y., Farmers' L. & Tr. Jan. 1. 1931 July 1. 1911> July, '88, last paid. Jan. 1, 1927 July, '88, la t paid. N. Y. National City Bk Jan., 1936 N. Y., Office 15 Broad St. do do do do do do do do do do do do do do do do do do do do do do do do -- ·-· - 1889 Oct.-- 15, Aug. 10, 1889 Nov. 1. 1906 Nov. 1, 1906 Nov. 1. 1906 June 1, 1895 Aug. 1, l!H9 Aug-. l, 1920 Sept. 1, 1919 ,July 1 - 1931 Oct. 1, 1987 A.&0.5 p.c. ea. J an . 1, 1916 chita to Halstead, Kansas, 25 miles, and operates the :finished portion of the Atlantic & Paoiflo road. Central Division. from Seneca. Mo., to Sapulpa., in the Indian Territory, 112 miles; total operated, 1,441 miles. ORGANIZATION, &c.-This company was organized Sept. 20, 1876, a.a successor to the Atlantic & Paciflc in Mo. The latter embraced the South Pacific RR. (originally the Southwest Branch of the Paci:fl.o RR. of Mo. chartered Dec. 25, 1852), which was oonsoUdated with the Atlantic & Pacific road Oct. 25, 1870. The Atlantic & Paci.tic road and lands were sold in foreclosure Sept. 8, 1 876, and the St. Louis & San Francisco t>eoame possossor of the property. This company is jointly interested in the Atlantic & Pacific RR. with the Atoh. Top. & Santa Fe, and guarantees one·half the 1st and 2d mort/,1:ag-e l.onds severally, notjointly. In January, 1886, leased for U9 years the Kansas City & Southwestern RR., from Beaumont, Butler Cvunty, Kan as. to Cale, in Cowle:y County, 62 miles, at a rental guaranteed to pay the interest on the 1st mor.;ga,g-e bonds. The bonds nre redeemable on notice at 110. The stock of 1he St. L. K. &S. W. isowned and the bondsguaranteed. K a nsas Midland Railway is leased for 97 years fiom Ja.n. 30,1888, a r ental guaranteed to meet interest on bonus. STOCKS AND BONDS.-The first preferred stock has prlor right to 7 per oent (non•cumul~tive) ; then pref. entitled to 7 per cent; then common The terms of entitled to 7; then all classes share in any surplus. the :first preferred stock are stated as follows: "This stock is entitled to a dividend of 7 per cent per annum * * * and by resolution of the company has priority of lien on net revenues for such dividend over any mort~age bond that may be issued by the company subsequent to the creation of this stock." Dividends have been on first preferred stock in 1881 and since at 7 per cent per annum; and on preferred· in 1 887 2!2 per cent; in 1888, 5; in 18&9, 3; in 1890 p aEsed Jan. dividend. (See V. 50, p. 72.) The range of the stocks yearly since 1877 has been : First preferred in 1878 (4 months), 5½!1i>ll~; in 1879, 9~@78¼; in 1880. 60@100; in 1881, 90@1151.g; in 1882, 79~@1061.g; in 1883, 87@1001.g; in 1884. 70@96¼; in 1885, 79@99½!; in 1886, 97@118¼; in 18 7, 107111120; in 1888, 105¼,,.116 7 s; in 1889, 85@11419: in '90 to Jan. 17, inc. , 901i>96~. Preferred stock in 1878, 1¼@514; in 1879, 418@6012; in 1880, 33~ 65; in 1881, 55®8114; in 1882, 43®66¼; in 1883, 40@591.g; in 1884.• 24¼®50; in 1885, 301i>49 7s; in 1886, 37¼1i>723s; in 18 7, 6llg'ib8419; in 1 888, 61½1i>743s; in 1889, 37@66 7s; in ' 90 to Jan. 17, inc.. 3 8@3914. Oommon in 1878 (3 months), 1 ½!@418; in 1879, 318@53; in 1880, 20~ @48; in 1881, 39®55; in 1882, 31@46 7s; in 1883. 20¼@3614; in 1884., 1119@29¼: in 1885, 17¼11>24¼; in 1886, 17@36~; in 1887, 30'!b44l\; in 1888, 22¼1i>36lg; jn 18 89, 14.®30; in 1890 to Jan. 17, inc .. 16'@ 1619.. The trust bonds of 1880 are secured by deposit or 7 per ceut; mortgage bonds; bonds on Monet. Mo., t.o E'a,yetteville. Ark., 71 m .; Carl Juno., Mo,, to Girard, Kan., ~9 m .. and branch, 3 m.; total, 103 m. The ~eneral mortgage of 1881 (supplemented by that of June, 1881) fol" $30,000,000 is made to the U. S. Trust Co. as trustee, and enough reserved to take up all prior debt. This general mortgage is a tirst lien on st. Louis to Pacifl.o, Mo., 34 miles.; Springlield to Bolivar, Mo., 39 m., and to Chadwick, Mo., 35 m.; Fayettevvile, Ark., to Red River, I. T., 215 m., and to Powell, Ark., 25 m.; Joplin to Galena, 10 m., and Carl Juno., 7 m.: total, 365 m. The collateral trust bonds of 1887 (Union Trust·co., Trustee) are for $50,000,000, at $20,000 per mHe, and are secured by d eposit with the trustee o! an equal amount o.r first mortgage bonds o:t' branch lines. Missouri & Western bonds to the amount of $5,000 a year are purchased or drawn at 105. St.Louis Wich. & West. bonds cover road from Oswego to Wtchita, Kan. They are purchased or drawn at 105 with any surplus rental over interest. The St. L. Kan. & So.Western bonds are issued at $15,000 per mile on road from Arkoo1nts Uty towards Anthony, and are redeemable at 110 on any interest t ay, at four weeks' notice. The Fort Smltn & Van Buren Bridge bonds are guaranteed by the Bt. L. & s. F. Co., and have a sinking fund of 5 per cent yearly after 1889 to draw the bonds at 105; they are all redeemable at 110 at co.'s opA tion. The land department assets were estimated D ec. 31, 1888, ai $696.033, including 130,397 acres of land valued at $4.04,230, 1,088 town lots val'd at $41,888, $166,398 in land contr'cts and $83,517 cash. T.ne St. L. Salem & Arkansas :first mort. bonds, Cuba to Salem, Mo .• and branches, 54 m. (guar. absolutely by St. L. & San F .) are issued at $15,000 per mile, and are redeem. on notice at l05. Kansas Midland first mort. bonds (Wichita, Kan., to Ellsworth, 107 m.) are at S15,000 per mile, and interest is guar. under lease of 97 years by St. L. & San F OPERATIONS, FINANCES, &c.-The St. Louis & San Francisco has been one of the successful reorganized railroads of the Southwest, and ha.a made good progress in traffic and income, without very heavily increasing its annual interest charges. From J an. 1 to Nov. 30 (fl mos.) gross earnings were $5,475.967 in 1889, a~ainst $5,237,74.7 jn 1888; net, $2,479,4 38, agamst $2,237,986. The annual report tor 1888 was in V. 48, p. 525 and 528. INCO 1E .A.COO UNT. 1887. 1888. 1886. 1885. 1,329 1,319 930 815 . ..... operated Miles $ $ $ $ Receipts5,773,251 6,229,344 4,874,628 4,383,406 Gross earnings ..••.• 2,109,441 3,247,477 2,652,33:J 2,433,662 Net earninirs ..•..•• . 190.332 *l,116,542 159,619 _ 19,782 Other receipts . ••..• 3,225,983 Totalnetmcome ~,45:1,444 i,811.Uol ;;$,4J7 ~ul) a• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CQ_';'!'JNUATION OF ST. PAUL M. & M. R. W. R educed ScaJe RAILROAD JANOA.RY, 1890,j STOCKS AND 123 BON DS. Subscribers will c onCer a great f'a vor by giv i n g i mmediat e n otic e of' a n y err o r disco v e red In these Table11. llonda-Prmci INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or pal, When Due Amount of Par Outstanding For explanation of column headings, &c., see notes of Rate r,er When Where P~ble, and by Stocks-Last Road. Bonds Value. Oen. Payable om. on first page of tables. Dividend. ------ ---- - - St. Loui B cf San FrnnciBco-( Oontinued)- St. L. Kan. & S. W., 1st M., g .. gua.r., red. at 110 •. c Ft. s. & Van Bur.B'dge, 1st m., g.drn at 1()5 rzuar. St.L.Salem & Ark.,lstM., guar.,redeem.at 105 .. c* Kan. Midl'd, 1st M., g., $15,000 p.m .. int. guar .. c" Bt. Loui.'1 Van. <f TerreH.-IatM.a. f. guar.notdr.c* 2d mort., sink. fund, not dr'n ($1,600,000 guar.).c• Bt. Patti <f Dulitth,--Preferred 7 p, c. stock & srrip. fi~i~:et :_:_:_:_:_:_:_:_::.::_::_:_:_: _·: : : : : : : ::i: Taylor's Falls & Lake Sup.,lst m.,gu.,s.f. not dr.c* Duluth Sllort L., 1st, guar.. cum. s.f. not drawn . ck Stillwater & St. Paul-1st M., g., (not guar.) ·--· .. St. Paul Minnea~olis ~ Manitooa-Stock ..•..•...••. St. P. & Pac., d M. (1st on St. Paul to Watabi ... lstmort. land grant sink. fd., ~- drawn at 105 .. c* 2d mort., gold (does not coverlands) ..• . ..•...•. c• Dak. Ext., 1st mort., gold ($12,001J per mile) ...... Conso1 mort.,gold ($13,344,000 are 6s), cp. or reg. 1st M. ,g., Montana Exten. ($25,000 p. m.) ... c*&r Collateral trust bonds, to be paid Mar 1, 1890 . . c Minneav. Un. RR., 1st M., gold,guar.($3,000,0001 East. of Minn., 1st M., g ., gu. ($50,000p. m.) c* &r Mon taua Cen., lstM., g . ($40,000 p . m.), guar. c&r Bt. Pa1tl w No.Pac.-Stock ($10,000,000 authorized) Gen . M.,~ar, ld.gr.,{$10,000,00(•) r eg. Q. - F.c* & r W est'rn H.,Minn., l st M 'RR .. C'OVl'r<'il hy Gen.M. Ban .J.nl <f At·ansas ~ass-1st M., g.,re<l. at 110 . . c' 1st M. , exteu., gold ($12,000 p. m.) . 1e1L at 11 0.J* 1st M., for f9,0 00.000, gold,$15,000 per mile . . e 2d M., g ., income for 5 years, $8,000 per rn.ile . ... --- --- --- $1,000 6 g. M.& 8. $7 -~'2,000 l.000 475.000 6 ~- A. & O. "54 810,000 5 g. J . & D. I l,000 4 g. J. &D. 1,000 1,6tt8,000 107 1,000 J. & J. 158 1,899,000 7 7 1.000 2,600.000 M.&N. 158 100 231 5.376,910 2¼ J. & J. 4,6 1j0,207 3 & 15 st 231 100 F."&.A. 1,000,000 167 iss·1 • 1,000 5 2,000,000 1 67 1887 1,000 A. & O. 5 210 ,000 21 1884 1.000 J. & J. 6 M. & 8. 25 1886 1,000 500.000 5 12 1870 263,'>00 7 J. & D. 3,024 100 20,000,000 Q.-F. l¼ 1,000 366,000 7 J. & J. 76 i862 4,48 0,000 7 g. J. & J. 656 1879 100 &c. 1,000 8,000,000 6 g. A. & 0. 656 1879 1,000 5,676,000 473 1880 6 g. M.&N. 1,000 26.215.000 -!¼ &6 g. J. & J. 2,39! 1883 4 g. J. & D . 411 1 887 l,OOO&c 7,468 .000 5 Jl, F. & A. .... 1888 1,000 8,000,000 6 g. J. & J . 1,000 2,150,000 1882 5 g. A. & 0 70 1888 1,000&c 4,250.000 6 g . .J. & J . 194 1887 1,000&.c f>,00,),000 152 100 5,ii00,000 Q.-M. l¼ 1,000 7,262 ,000 6 g. F. & A. 186 isss 1.000 438,000 M.&N. 7 6012 1877 1,000 l ,'i50,000 6 g . J. & J. l!'iO 1885 1,000 ;;,715,0 00 6 g. J. c:\I J . 309 1886 1,000 64?,,<JOO 5 g. A. & 0 . 43 1888 1,000 4,016,000 5 g. A. & 0. 502 1888 48 1886 1885 1886 1887 1867 1868 .... 0 N.Y.,Office,15 BroadSt. do do do do do do N. Y., Central Trust Co. do do N'. Y., Of ,32NassauSt. do do N.Y., Central Trust Co. N.Y., First Nat Bank. N. Y .. Central Trust Co. do do Sept. 1, 191 April l, 191 Dec. I, 193 June 1, 193 Jan. 1, 189 May 1, 189 Jan. 16,189 July 5, 188 Aug. 1, 1931 Oct. 1, 191 Jan. 1, · 191 Sept. 1,191 Dec. l, 1900 New York, 40 Wall St. Feb. 1, 189 do do July 1, 189 New York and London. July 1, 190 do do Oct. 1, 190 N. Y., 40 Wall St. Nov. I, 191 do do July l, 193 do do June I, 193 do do Mar. 1, 189 do do July I, 1922 N.Y.,40Wall;~oq., Le!' H April 1, 190 New York. 40 Wall St July 1, 193 N. Y. Office, 35 Wall St. J a n. 15, 189 N.Y ., Winslow, L . & c o. Feb. 1, 1923 do do May 1, 190 N.Y.,S l\'f.Swenaon&Son Jan. 1, 1916 do do July 1, 1926 do do Oct. l, 193 8 None paid. Oct. 1, 1 9 13 Disbursements- 18E 5 . 1886. 18 37. 1 888. \ 1882, 9; in 1883, 8; in 1884, 712; 1885 to 1E89, inclusive, 6; in 1890 l,751,2 l5 l,95u,323 2,219,901 2,'.l8:.!,l57 J<'eb. 1, l ½. 315.000 315,000 f\6 5,000 815,000 Ran !!e in stock prices since 1882 has been: Tn 1883, 941il169¼ ; in 7 7 7t it 1884, 761ew99; in 1£85, 79 341illll; in 18 86, 106¾1ill241a; in 1 ~87, 4,732 5,974 .. .. - .. 94~ 1ill 0 7e: in l '- 88,94.1il114¼; in 1889, &2 a 121¼; iu 1890 to Jan. 17, - - - - - - - - - - - - - - - - - - - - - incl11sive, 1121il ll 5. Total disbursem'ts 2,070,947 2,271,297 2,784,901 3,197,157 The consotida.ted mort1age of lo83 is for $50,000,000, of which 382,497 540,654 652,908 28 'l26 $19,42€,000 were reserved to pay prior liens. The mortg. on the Mon B a 1ance , surp1us . ··· ·tana Viv., issued i n 1837 a1tcl due in .t937, is fo r $ ?5,0 ~0 .0 10, to p ro* Ma1e np a s follows: Iut~r e•t and dividends, $524,815; s ale of gen· vide for exten sions, $1 5 ,000 per mile being allowed fo · second track. mort bond!:!, $159,000; 1,rofl.t on Eecur,ties sold, $132,697. See abstract or mortgage in V. 45. p. ::i42; Central Trust Co. of t And ~12 per cent on pre'.I'. 1 Aud 5 pu cent on prer. New York, trustee. Tne Collateral Trust bonds issued in 1 888 have -(V. 47. p. 81, 161, 39fi , 59 4,708; V. 48, p. 463, 525 , 528 , 827; V. 50, beTe;~ c~~led for Rpaymefn1 ~arch l, I SUO. f 1 "Z ile ..,,astern y . o "iJJnesota runs rom Hinckley northward 70 P-~~--)Louls Vandalia & Terre Haute.-Uwns from 11:ast St. ::1i~es,fe° \po int ¥ia r~tultt~ t~~ mortgage io~rs -~q~ ipFent, ~r.uu;als Louis to Indiana State line, 158 miles. Road opened July 1, 1870. rf~ht~ ~r~7S, a8ud 'gu!rant~~~e:J>e°' i~ou ds. an~ge t1~tsi!a ~e'iit~fr -It is 1...ased to the T erre Haute & Indianapolis Railroad at a rental bonds are issu ed on sever a r r ft,ctµ ,v 46. l>, 125) and are ~uar. principal of 30 per cent of gross earnings. In July, 1887, suit was brought by a.nd interest 1.>y the St . P. M. & M. Co .. which owns the M. o. stock. the lessor company to d eclare the lease void, but Judge Gresham In OctobP-r, 1889, an important circular was issued by Presid ent Hill ,deci-led in favor of its validity, and the case ltas been appeaied (see V. 49, p. 43fi); the Grtat N orth Prn Railway with $40,<,00,000 •to the U. 8 . Supreme Court. The first mortgage anft $1 ,600,000 capHal, of whioh $20,000,000 is pref. 6 per c ent s tock, is to l t> ase the of secoud mortgage l>onds are guaranteed by the lessees and also Sr. P. M'. & M. and guarant ee 6 p er cent on its stock: alsri to cancel the by the Pittsb. Cin. & St. L. RR. Stoel!, $2,379,358 common and $1,- :tti,000,000 trust bonds, with p rooreds 11r it20 ,0:JO,OOO pref. stock, to be .544,100 pref.; par $100. P enn . RR. holds &'837,000 l st pref. In year subscribed for at 50 by stockholders of st. P. M. & M. Fiscal year enrts June 30 Report f 1880 89 in v 49 651 655 -ending Oct. 31, 1889, gross earnings were $1,727,299; rental to St. L. Van. & T. H., $51~,189 : less c.barges, $369,604, leaving surplus, · · or .,. · 'p. ' · $148,!'i85. In 1885-l:i profit to lessee was $23,687; in 1886-7 profit 1885-86. 1886-87. 1887-88. 1888-89 :$117,821; in ' 87-8 profit $11,983; in ' 8 8-9, $ :'> 7,000. (V. 48, p. 68, 126.} Miles oper. June 3(). 1,509 1,935 2,648 3,030 St. Paul & Dnluth.-LINE OF ROA.D.-St PaUl, Minn., to Duluth, Total gross earnings $7,321,736 $8,028,448 $9,561,905 $8,536,566 Minn., 155 miles; branches, N. P. June. to Clocquet, 6 miles; RuPh City Oper. exp. & taxes,. 3 ,8 38,652 4,314,895 4,669,987 5,01.,0,067 to Grantsburg, 17 miles; S nndRtone. June. to Sandstone, 5 miles; leases: .Stillwater & ::!t. Paul RR., 13 m. (for 999 years); liflnneapolis & Duluth Net earnings .... $3,483,084 $ 3,713,553 $ l,891,9l8 $3,586,499 RR., 13 m. (!or 99 years from July 5, 1883); Taylor's Falls & Lake SuINCOME .ACCOUNT. perior, 21 miles; Duluth Short Line (Thomson to Dulu!ih), 18 miles (for '99 yeara) ; total, 247 miles. Between North. Pacific Junction and Du1885-86. 1886-87. 1887-88. 1888-89. 1lutb, 24 miles, the road is owned jointly with the No. Pacific. Receipts$ $ $ $ The Lake Superior & Mississippi RR. was sold in foreclosure May 1, Net earnings .....•. 3,4.83,084 3,713,553 4,891,918 3,586,499 1877, and this company orgaruzed June 27. The preferred stock is Rev.from L'ndDep't 350,114 415,782 271,938 161,870 ,received in payment for lands a t par. Three shares of common stock Other receipts ...•... 171,116 514,447 450,759 751,903 nave one vote and each share of pre rerred has one vote. Preferred ---stock has a prior right to 7 per cent; then common to receive 6 per cent. Total income . . .. 4,00-1,314 4,643,782 5,614,616 4,500,272 Divldends smce 1876 have been: On preferred-In 1881, 10 stock; Disbursements$ $ $ $ in 1882, 3~ in cash; in 1883, 7; in 1884, 3¼ and 7 in pref. stock; from Interest on debt ..•. 1 ,999,820 2,170,409 2,793,751 3,256,432 1885 to 1888, 7; in 1889, 512; Jan. 16, lb90, 2¼. On common- In Dividends, 6 per ct.. 1,200,000 1,200,000 1,200,000 1,200,000 J.887, 3 and 15 in common stock; in 1888 and 1889, nil. The 2d mortga ge t!lll.k1.ng fund.·-··-·· 350,114 415,782 271 ,938 161,870 -oovere the right to leased lines, but not the land grant. Imp't'I & renewal fd. 600,000 750,000 "i2;;,,;-; The company has a land grant, of which l,07ti,331 acres remainert un- Misoellaneous ..••.•• sold Dec. 31, 1888, and 67,340 acres of the Taylors Falls branch. In 1888 net receipts from land and stumpage sales amounted to $367,946. Tot. disburse'ui.. 8,549,934 4,386, 191 5,015,689 4,631,009 The report for 1888, in V. 48, p. 460, had the following: Balance, surplus... . 454,380 257,591 598,926 der.130,737 1886. 1887. 1888. -(V.47, p. 327, 370, 382, 49'7', 502,664; V. 48, p. 70,129,481,800, Receipts$ $ $ Gross earnings . ••.. . ..•••.•••.•••• 1,558,086 1,694,339 1,524,918 827,856; v. 49, p. 342,403,435,651,655,673, 713.) Net earnings of RR.......... . ..... 630,791 522,080 327,435 St. Paul & N ort h e r n P acltlc. -Line or road Brainerd to MinneapReceipts from lands & stumpage. 163,057 541,926 367,946 olis, 139 ~es, and branches t~ St. Paul, 13 miles ; total, 152 miles. Interest, rents, &c.. •.•••• . ••• . • •. . 24,142 21,852 ~l, 162 Branch, L1ttle Falls to Staple Mills on Northern Pariflc, 34 miles, under construction. Owns t erminals in Minneapolis on 20 acres, and owns in Total receipts.. . . ...••. ....... 817,990 1,088,858 716,543 all some 400 acres about St. Paul and Minneapolis. The land grant Total charges and dividends.. 475,913 600,165 561,989 (206,674 acres unsold June 30, 1889,) is between Brainerd and Sauk Rapids; proceeds of lands are first applied 1o purchase of Western Balance, surplus . ..... .••. .•• • •• .. 342,077 488 ,693 154,554 Minneapolis bonds, then to general mortgage at 120 or under. The -(V. 47, p. a1, 432,745; V. 48 , p. 129, 460 , 609, 829.) road, with its terminal property, is leased for 999 years to the Northern si. Paul lfftnneapo lls &; lffanlto ba-(See Map).-Owns from st. Pacific at a net rental equal to 40 per cent of the gross receipts, but any Palll, via Barnesville, to 11:merson, 392 miles; Minneapolis to Gretna surplus over 6 per cent on stock is divided equally between lessor and via Breckinridge, 413 m.; Minneapolis to Hinckley via, st. Cloud, 132 l essee. The bonds are guaranteed by Northern Pacific. '.rhe stock is m.; St. Cloud to Willmar, 55 m.; Elk River to Milaoa 32 m. B otti- placed in trust with Farmers' L . & Tr. Co., but power to vote is tu N . neau Branch, a9 m.; Sauk Centre to Eagle Bend 36' miles· ''Fergus Pacific Co.; "beneficial certiflcat~s" entitling holders to dividends are isFalls to Pelican Rapids. 22 miles; Crookston June. to Great Falls, Dak., sued. Of the. stock $3,002,500 18 owned by N. Pac. (V. 49, p. 23, 540.) 782 ~es;. Shirleyto St;Hilaire, 22 mil~s;. Wayzata to Spring Park, 6 San A.ntonto &; A.ranl!las Pass.-(See .Map.)-Road extends from miles, Mouis to Browns Valley! J.7 mile_s, Brecke~idge _to L angdon, . Kerrville to Houston, ·r ex., 306 m.; Kenedy Junction to Corpus Cristi 206 mile~; Everest to Portland (via. ~ay_v~le). 50 !filles; _Ripon to Hope, and R ockport branch, 119 m.; Yoakum to w est Point 50 m.; Skidmore 8_0 miles, Moorhead to lfals~ad,_3 4 miles, Evansv:111e (via Tmtah Jun~- to Alice, 43 m.; Shiner to Lockhart, 54 m.; total 572 miles. The mort. tt';)n ~o ElleJ?,dale), 136. miles, Rutland Junct~on. to Aberdeen, 64 of 1885 covers the 150 m. from Sim Antonio to Aransas B ay, that of 1886 miles, Hutchinson Junction to Hutchinson, 53 miles, B en son to Water- from San Antonio to KHrville 70 m Kenedy to Wallis 1 a2 d town, 92 miles; Wahpeton, D ak., to Moo;he~d, Minn. , 43 miles; Ohu~ch's Yoakim to Waco, 167 Ill. , and that of •s's from Wallis easterly a~·:r:im Ferr.}'.', Dak., to St. Jonna, D ak ., 55 miles, Carman to Fosston, Mmn., Shiner to Austin 'l'he Farmers' L oan & Trust co of N y i t t -45 m1les; small branche~, 15 ~lies; total owned, 2 ,799 milr s. Pro~rie: 01 both mortgages. Abstrao~ of 1886 mor tgage given iii 4 7e;_ tary lines-p. W: & P.R.}'.', Waterl!<>wn, D ak ., to Huron, .J?ak,., 70 m1l~s, stock: issued, $5,000,000 From J :ill. 1 to Deo. 31 ( l2 mos.), gross W. & S. F. RY, WillJ?lar, Mmn., to Sioux: Falls, Da~., 147 miles, RY: earnings (partly est imated) were $1,438,085, againi-t $1,00 1, ·.!31 in Sand Coulee J~not10n to Sand C1.1ulee, 14 miles, total, 231 miles, totru 188~; uet, $576,224, against $33!,50 i. ; surplus over interes t on funded oper~ted J_une 30, 18°9, 3,030 miles. . det>t, $271,724, against $91,141 . In year "lnding J une 30, 1889, oss This railroad company was orgaruzed May 23, 18'?'9, The CO!ll- earnin gs, $1,090,307 : net, $ail,278; interest, $&73,030; sm~us pany ~ad a l and grant of 3 ,848,000 acres, and acqmred the Min- $ J8,248. u. Lott. Pre!lident and Gen. Manager. (V. 46, p. 32l 418 : nea:polis & St. _Cloud RR. grant,. 476,06! acres. The proceeds of land v 47 p 140 ltil 382· v 48 p 452 689· v 49 p 23 174 936' 2 7 0• ' · ' ' · ' · ' ' - ' ' ea.lea are applied to the reel.emption of 1 st mort. bonds at or under 105. 5i1 690· v 50 p' 107'> · The land, sales for year ending June 30, 1889, were 42,893 acres for ' ' · ' · · $274,743, and 139 town lots for $7,573. The n:et amount due on l and Sandusky Mansfield & Newark.-Owns from Sandusky, o., to oontra,c1ts June 30, 1889, was $346,179; l ands unsold, 2,615,804 acres. Newark, O., 116 miles. Leased to Central Ohio, guaranteed by Balti~ Dividl)nds have been as follows since 1880: In 1881, 3 per cent; in more & Ohio, Feb. 23, 1880, till Dec. I, 1920, w h option to the Balt. & Int., sink. fd. & rents Dividends..... .. Rat., <>f dividends.. Miseellaneous .... .. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1Ylt --------------- ------ --- --- I v·: i, ;~~ !ti·?· 126 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. [VOL. L .. I 0 0 SAN ANTONIO AND ARANSAS PASS RAILWAY AND CONNECTIONS. • JANUARY, RAILROAD STOCKS AND BONDSa 1890.~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE SAN FRANCISCO 0 Cahto AND NORTH PACIFIC R'Y ~~\ Glenbr CLOVEROA 0 ~:!!> Ceyser ~ • Springs 0 Pine Flat 0 e:x:ander C Middlet 12T • INVESTORS' SUPPLEME.NT. Sub ► erlbers [VOL. L. will couCer a great Cavor by giving Immediate notice oC any error dil!lcovered In the•e Table•. Bonds-Prine! INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or When Due Amount Rate per When Where Payable, and by pal, of Par Outstanding For explanation of col:.mm headin~s. &c., s ee notes of Stocks-Last Road Bonds Value. Cent. Payable Whom. on first page of tables. Dividend. • Sandus/Cy Mansfield cl Newark-Re-organized stoc.lt lst.M.,g ,int.gu.underlea,RebyB.&O.andCent.o.c• BanFran.rlNo. Pac.-lst.M.,g. ($4,500,000),P.f c*&r Ba-oa1inah Americus & Mont11ome1·y-l st. morts .. . . . Consol. n:ort. ,gold, $12,000 per mlle,$4, 100,000o·• &1,t,annah Florida cl West. -At.& G. consol. mort.c ' Bo.Ga. & Flor., 1st Ms., end. lly State of Georgia.c· do 2d mortgage. gold ............. . .. ... c* Bav. Fla. & W., 1st mortµ-age, gold . . .....••. . •.. o• Brunswkk & West.-lsli M. guar.by S.F.&W .c*&r Income bonds, non-curr,ulatlve ...... ... ........... 8a'1annoh 4 Weste1·n-Columbua & West'n, 1st m .. o* Columbus & Rome 1st mo :t~age ..... . ........ . c* 1st consol. mort,, gold ($18, 00 per mile) guar.o* lkioto Valley-1st mort. (s. fund $13,000 per year> . 2d mortgage (sinking fund, $5,000 per yearL •••. Consol. mortgage ..............•...........•...•.... Beaooard& .Lloa'ke--Stk.($244,200 is prf. gua..7p.c.) Debentures, redeem. at will after July 31, 1916. r 1st mortgage for $2,500,000 ....... .. ... . ....... . c* Seattle Lake s. cl East.- lsli M., g., $25,000 p . m . . *c Shamokin Sunbury cl Lewisburg-1st mort...... c* ·2d mortgage •••..••..•..... . . . .......... . ........ . c* Shamokin Vat. & Pottsvilw-Btock, guar. byNor. C .. 1st mortgage, gold, on road and landl11 .. .. . ..... c /Jhenandoah Valley-lat M ....... .... . .......... . ... . Gene.ral mort.,go1d(llen on $1,560,0001st M.b'ds.) 3d mortgage income bonds, non-cum . . .. . .. . . .. .. r Car trus;; certifl.ca.tes .•......... . ....•...•...••... c BhoreLine(Oonn.J -8t'k,7¼p.ct.rent.N. Y.N.H.&H. 1st mortgage .•. . ... . ...... .. .... . . . .. .. .. .... .... .. 8hret,eport cfHouston-Ist,g .. guar. byB.E. &W.T. - - - - - - - ·- - -116 - ·- --· - -$50 - -!ill,068,832 Feb. 1 Moss N. Bk., Sand'ky,O. 3½ 116 160 1io 347 58 5 f< 545 171 i58 5 r1 367 98 98 124 110 1,000 i869 1 ,000 1880 5 t•0 1885-f 1889 1,100 1867 500 &c. 1869 1,000 186:-} ],000 1884 1.000 1888 500 &c. 1,000 H88 1,000 1881 1,000 1884 1,000 1889 1876 500&0. 1,000 1879 1880 1.000 100 l00&c. 1,000 1886 1 ,000 1886 1,000 1882 1,000 1884 50 187i 500 &c. 1,000 1880 1881 1 ,000 1,000 1883 iss6 ·si 90 31 31 29 28 255 255 255 "49 49 40 ..... isso 1881 ·foo l000&c. 1,000 2,300,000 7 g. •T. & J. N. Y .. Union Trm1t Co. 4,0()0,000 5 g. J. & J. N Y. and Frankfort. 350.000 7 J. & J. Americus, Ga. 1,200,000 6 g. J. & J. Balt.,Mero. '1'1·.; & Amer. 1,730,000 7 J. & J. N. Y.,H.B.Plant,&Sava.n 464,000 7 M.&N. do do ~00,000 7g M.&N. do do 4,050,000 6 g. A. &O. do do 3,000,000 4 g. J, & Y.,12W.23d st.,&Sav. 3,coo,uoo 5 .... None J ald. 800,000 6 J. & J N.Y. ,Kess'r&Co.54 Wall 200,P00 6 J. & J. do do 5,000,000 5 g. M. & 8. New York,Kessler&Co. 1,294,000 7 J. & J . Last paid July, 1884. 283,000 A.. & o. Last paid .April, 1884. 7 5 53,000 7 J. & J. Last paid July, 1884. 1,302,900 5oncom. M.&N. Balt.,F,irm .& Plant. Bk. 690,000 6 F. & A . Portsmouth, Va. (:; 50,000 5 .r. & J . New York, Balt. &Phila. 2,'2f1 0,000 6 g. F. &A. N.Y., Union Trust Co. 1,000,000 5 M.&N. Phlla.,Phil. & Read.RR. 500,000 6 F. &A. do do 869,4 50 3 F. & A. Phila., Penn. RR. Co. 2,000,000 7 g . •T. & J. do do 2,270,000 7 g. J. & J. Last pttid Jan., 1885. 4,113,000 6 g. A.. & 0 . L ast paid Oct d 1884. 2,209,000 6 Feb. 1 Nonepai . 620,109 ..... Q. - F. Phila. ,Fidelity Tr. Co. 1,000,000 314 J. & J. N. H., Nat. N. H. Bank. 200,000 412 M.& 8 . do do 400,000 6 g. J, & J. lfl Jr. Ftib. 1, 189 0 Jan. 1,1909 Jan. 1, 1919 1905 & 1906 July l, 1919 July, 1897 May 1, 1899 May 1, 1899 April 1, 1934 Jan. 1, 1938 Irredeemable. Jan. 1, 1911 Jan., 1914 Mar. 1, 1929 Jan. 1, 1896 April 1, 189 July 1. 191 Nov. 1, 1889 Aug. 2, 191 July 1, 192 Aug. 1, 1931 May 1, 191 Feb. 1, 192 Feb.l, 18ll July 1, 1901 Jan. 1, 190 April 1, 1921 Jan. 1, 192 Jaii."ii,..i89 March, 191 July 1, 1914. Ohio Co. to renew for t e!rut of 20 y ears e ach. It i s oper~ted as L ak t / per ci-ntl , $114,420; surplus over dividends and 10, Res . $13'2.618. Erie division of the Baltunore & OWo system. Rental is $~01,850. In J . M . Robinson, President, Baltimore, i\fd. (V . 46, p. 539, 678, 82'7; v. '88-89, grosE, $1.177,519; net , $283, t 77; profit to lessee. $ .:>8,041. 49, .I>, 435.) San Francisco & North PacHlc. - (See Map.)--Point Tiburon, Seattle Lake Slto1·e & Easter11.-1See Map.) Line operated Cal., to Ukiah, Cal., and branches, lt 0 runes. Consolidated with var ious from Seat tle to a p oint Leyond Sno11ualmfe Falls, 7U miles. ln course crmpanies March 19 ,- 1889. Connects with Sa n Fran1.Jisco (6 m iles) by of conetruction no1·tb fr om Snohomish June:tion to a connection with company's s te amer. Bonds issued at $2 5,000 per mile; t rust ee, Merca n- the Cana dian P a c. at the international boundary line, 10 l miles. of tile Trnst co., New York; sinking t'uncl, $25,0lJtl per annum, and bonds whieh 25 miles are complt:ted. Expect to comp·ete this northern drawn (or purchased) at 110 and interest. [See abstra~t of the mort- extension during the coming summer. The Canadian Pac. are building gage in . v. 49, p. 241.] Capital stock, $6,000,000; no floatrng debt. Earn- a br anch from Mission, a p oint on the main line, down ro the boundary iD~s in 1889, $757 ,8 0 1 gross and $246",612 net; gross in 181:!8 on 130 line to meet the S. L . S. & E., Ha.king a through rail connection for the milel', $727,170: ntt, $246,139. James M. Dona.hue, President, Ban C:a nadian Paciflo with the entire railway system of the Paeific coast. Frt1noisco. (V. 48, I'• ts00.) There has a lso been completed 49 miles on the eastern end of the line, Savannah Americus & Montgomery. - owns LouYale to from Sp< kane Falls to Da.penport. At Spokane Falls connection is Helena Ga., on the E. Tenn. Va-. & Ga ., 134 miles, and under construe- madG with t h e Union Pacific system at a Union del\utjointly owned by tion ea8terly 40 miles to Lyons, where c onnection ill be m~de wit_h an the two c orupaniel'! . Office in N. Y. at 35 William street. extension of the Sav. &Wes ·ern (Cent. of Ga. system), forrumg a rluect Shan1okin, Sunbury & Le,visburg.-Line from Shamokin to line to Savannah, Ga. A traffic contract has been m a Cle with the Sav. West Milton, Pa., with iron b1idgc o,er Susquehanna, 31 miles. Jt Western aut throuirh trains -will be run v ia this line from Savannah Leased to Pl1iladelphia & Reading till July 20, 2883, and used for coal to BiJmingh1im, A.la. This was formerly the Americus Preston & Lump- traffic northward. Stock, $1,00(1,000: par $50. kin. Of the lstmoi t. bonds $10l•,O00 are a first lien on 38 m., the otl1ers Shenandoalt Valley.-F1·omHagerstown, Md., to WaYDesboro and cover extensions, being a second lien on tbe 38 m. The new console. are for $4 100,0C0 (Mercantile Trust Co. of Baltimore, trustee) . Stock is thenoe to a connection with the Norfolk & West-em road at Roanoke, $151,000; 11ar H.0. In year ending June 30, 186U, gross earnings were 239 miles and uranches 17 miles. A close contract ror working and an $120,49Cr, net, $49,295; surplus over fixed charges, $17,771 .-(V. 48, exchange of stockforNorfolk & Western stock was made in 1883. In Maroh, 1885, Sidney F. Tyler was a,p pointed recei,er. Foreclosure p. 369, 764.) peuding and litigation has been complicated. A reference to the Savannah Florida & Western.-Owns from Savannah, Ga. to is uages of CHRONICLE indicat«>d below will give the various changes. Chattahoochee, Fla., 258 miles; branches-Bainbridge Junction to Ba.in• Stock (par $100), of which $3,057.100 is held by tlle Norf. & bridge 9 miles; extension. to Savannah wharves, l ·70 miles; Junction West . $3,696,200 RR. Co. Branch, 4 miles; Dupont to Gainesville, 118 miles; Thomasville t1 From Jan. l to Nov. 30 (11 mos.) gross earn·s were $873,712, againai Albany, 58 miles; Tbomasville. Ga., to Monticello, Fla.., 24 milfs; net after deducting betterment expenditures, as well as opWaycross to Jack.son ville, 75 miler!; Fort W bite, Fla., to Luke City, Fla., $766,502; erating 1-\Xpenses, $27,824, against $8,908. 20 miles; total, !'.61l miles. In Jan., 1888, control w as purcllaEed of the In 1887 gross earnintfS were $9v2,86~; net, $129,316. In H 88 grose Brunswick & Wes tern Road, Brunswick toAlllany.171 mllei;:,with bonds $831,948; net, $49,976. (V. 48, p. 190, 292, 4l::I0, 543, 580, '729,856.) as above, the first mo1:t. bonds beinµ; guaranteed. TlleMetro11olitan: Trust Co., ofN. Y ., is trustee of Jb '-' mortgages .. 'fhe 8. I•'. & W. stock 1s $6,Shreveport & Houston.-FromShreveport,La., toLo~nspc,rt, La.., 161 400, 1par $100) and dividends are paid as earned. In 1887 gross 40 m.; connects with Hons. East. & W. Texas road, forming with thatanar• earnings were $2,675,526; net, $423,037. In 1888 gross earnings, $2,· row gauge line of 230m. from Shrevep' t. to Houst•n. E.~Bremond,Pres. 853,030· net, $669,302; surplus over charges, $260,773. In Mob ., '89, Sliver Sp1•ings Ocala & Gult'.-Tb.is road is projected from pa.id 4 p'er ct. dividend. H.B. Plant, Pres't. New York. (V. 49, p. 235 .) Palatka, Fla., to Point Pinellos on .rampa Bay. about 250 miles, savannah & Western.-Owns from Birmingllaru, Ala. ,connec- l-.tll.d completed to Bomosassa, 50 miles. Stook, $2,500,000, par $100. tion with Kansas City Fort Scott & Memphis), to Americus, Ga., 223 There is a, land grant of 13,840 acres ner m., of which. the mortgage covera mJles· Columbus to Grt en ville cnar. gau ). 50 mUes; Opelika to Roanoke, 4,000 acres perm. Thos. C. Hoge, President, 56 Wall St. 87 miles; ~ufau!a. to Ozark, 60 miles; total, 370 miles. South Oarollna.-Owns from CharleAton to Augusta, 8. C., 137 m. This wa-s a consolidation in Aug, '88, of the Columbus & Western and branches to Columbia, 68 m., and to Camden, 38 m.; extension, 4 mile& other 1oads. Road belongs to the Ce tral or Georgia sy~tem. Stook is total mam line and branches, 247 .ru. Road sold in foreclosure July 28, $3,0U0,760 (par, $100), all owned by the Central of. Georgia.. The 1881, and on Jan. 1. 1889, the company defaulted again. Foreclosure eonsol. mo1t. (tru11te£>,CentralTrnst Co., N.Y.) ts for nonunally$18,000,· suit under 1st mortgage is pending, and plan of r~organization was 000, of which $'5,C00,0-00 is outst and1ug and $1,560,000 held in trust given in V. 49, p. 174, but some first mort.- bondholders oppoeed this, tor prior Hem; alJstract of mort. in V. 49, p. 240; 1\rtncipal and interest and in October, 1889, D. H. f'hamberlatn was appointed recei 9"er. Is guarautecd by Central RR. & Banking f'ompany of Georgia. In 1888- There were on Dec. 31, 1888, $178,000 old 5 per cent 1st mort~age ex89 gross eamings were $530,168; net, $87,485 . .Presid't, Gen. E. P. tended bonds, payable 189'2, and $8,000 7s, due 1907, _in addition to .Alexander, Savannah, Ga.-(V. 47, p 218; V. 48, p. 7i9.) those above. 'l'he stock is $1,201,160. , · The annual 1·eport for 1888 was hl the CHRONICLE, V. 48-, p. 555. Schenectady & Dnanesburg.-From Quaker Street JunotJon, INCOl\IE .ACCOUNT. N. Y., t.o Schenectady, N. Y., 14 miles. Leased tn perpetuity to tht 1885. 1886. 1887. 1888. Del. & Hudson Cana.l. Rental, $30.000 per year. Stock, $100,500. Receipt.$ Schuylkill Valley.-Owns from Palo Alto to Reevesdale, Pa. Gross earnings...... 1,151,8-10 l.1 miles; branches, 8; total, 19 miles. Lel\Sed to Phila. & Reading RR• Total mt income.. .. 358,427 ·tor999 years from 8eJ>t.1, '61, at 5 p. ot. on stock. Has no bonded debt· Scioto Valley.-Owns from Columbus, 0., to Petersburg, O., 13i mnes. stock $2,093,350; par $50. Receiver (Ja.s. Robinson) was appointed in June, 1885, on a judgment of C. P. Huntington for $639,305. In May, 1889, an agreement was made for settlement; the mo1tgage bondholders were offered certain terms for their bonds and a new company is to be formed with $5,000,000 oommon stock and $5,000,000 fl.rat mortgage 100 year 4 per cent bonds. Stock pays affses-ment of 20 ~r cent. See v. 49, p. 342, 78 l. From Jan. 1 to Sept. 30. 1889 (9 mot1.), gross earnings were $476,017. against $500,457 in 1888; net, $136,686, against $107,978. In 1887 gross earnings were $789,123; net, $173,!2f. In 1888 gross $665,927; Det, $1-!6,E04. tV. 47, p. &62; V. 48, p. 463, 764; V. 49, p. 52, 342, 4'36, 789.) Seaboard & Koanoke.-Owns Portsmouth, Va., to Weldon and br. If. c .. 81 milei,; leases Roanoke &T.R. RR.29 miles. Also ha_s a controlling Interest in the Raleigh & Ga-ston R ':t. 109 miles, and thus m the Raleigh & Augusta Air Line 107 miles and Carolina Central 269 mileP; also CClntrols Pittsboro RR. 11 mil€s and Carthage RR. 11 mtles; total of all 618 mile!:!, Of the stock, $1,058,700 is common, $200,000 is 1st pref. 7 percent jl.'Uar., and $44,200 is 2d guar. The debentures above are to be included in any 2d mort. issued. After Aug. 1, 1916, they are ~yable at will as a whole, or in 10 per cent instalments. Tbe Georgia Carolina & Northern, in which this company is interested, ism der con@trnction, and bas been completed from .Monroe to Cbester, B. C., 45 miles. ]n yellf «>noinl? June 30, 1889, ,iros.s earnings on road proper, 114 111il«>ll, H8!•,4f-8; ntt, $271,072; otl1er Income, $i7,4'i6; total, l!'348,548; 6.Uplus over fixed charges, $223,376; from which paid dlvidentis (10 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $ $ $ 1,120,060 1,217,392 1,269,031 159,858 320,683 237,454 Interest on c:ebt, &c. 382,544 3R7,250 391.641 404,226 Eala:.oe ..•.••••••.••. def. 24,117 def. ~27,:i92 clef. 70,~58 def.166,772 -1V. 48,p. 68,190,463, 555,689;V. 49, p.115, 174, 471,617,664,761i) South Florlda.-Owns from Sanford to Tampa, Fla., 115 milesi Bartow Branch, 17 miles; Pemberton Ferry Branoh, 56 miles ; epe:rates Sanford to Lake Charm, 18 miles-total, 207 miles. The road la pa.rt of the Savannah Florida & Western system. In 1888 gro11 earnings, $32e,e84; deficit under operating expenses, $72,819. South & Yorth A.labama.-(&e Map of Louisville ti Na.11,. ville.)-Owns from Decatur. Ala., to Montgomery, Ala., 182 miles, with a branch of 6 miles from Elmore to Wetumpka.. Tlle road ie controlled by the Louisville & Nashville RR. Company, which owns a majority of the stock, all of the second mortgage bonds ($1,960,000,1 due 1910) which are pledged, and $2,082,000 consol. 5e. The $391,uO0 8 per cents due Jan. 1. 1890. were purchased by L. & N. Common stock, $1,469,082; preferred stock, $2,000,000 (all pledged under Louis. & N~h. collat. trust of l882);par $100. In year rnding June 30, 1889, 1IToss earrui. were $1,839,31:0; net, $353,36-1; def. unde1· int., &o., $225,536. . South Pacific ooast (Narro-w•gange).-Owns from Alameda to Banta Cruz, 87 m.; branches, 23 m.; total, 110 m. The road is lease4 for 55 years, from July 1, 1887, to the So. Pacifto Co., which compan7 guarantees the bonds. Trustee of mort. is Farmers' L. & Tr. Co. Tbe stock is $6,0<10,00u; par $100. Gross e1u-aings in 1888 $1,\J93,805; net, $:.:85,7~0. (V. 49, p. 540.) South Penn•ylvanla.-The line was rn progress between Harrfl'b. • Pittsb., ~25 m.,nJ1:1.k.ingi.west'nextension of thbPhila. &R~o•g system. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE a a I r N ................ SEATTLE, LAKE SHORE EASTERN RAILWAY. 0 AND AND CONNECTIONS Shaded Lines on tne Line of the Road indicate Coal & Iron fields. olvjlle Inflictn \ / ;, Reser-vat_ion ,/ ./ t:: e-we:Jali0 !>) ~~ --<y❖ . ~e,-<f'. ~ unters ,cO 0 rs l~r • ~o?-~ - ·_ L Ak£ .... !Kanogan ~· SHORE · :eystal Sprs . .I ! ~~ L'ake Kanbka , .I · . , Q ootenai INVESTORS' SUPPLEMENT. 130 (T'OL. L. 8ub111crlben wlll confer a great ftlvc,r by clvlng Immediate notice of any error dl111eovered In these Table•• B011.fU-Pr1nclINTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or pal,WhAn Due. Amount of Par Outstanding For explanation of column headings, &o., see not-es of Rate per When Where Payable, and by 8tocu-La8' Road. Bonde Value. Cent. Payable Whom. on first page of t~bles. Dividend. - - --- - - -· 150 1888 $1,000 $3,000,000 Siltier~- Ocala ti Gulf-lat, I.gr., g . ($15,000p.m.)o' 83,092 aroliua-let mortga!e, 11terlinj1; loan ....••• 247 1868 Various 4,883,000 1,000 l8t coneol mortgage (for$ ,000,000) ..••.••••••.. 247 1881 1,000 1,130,000 2d consol. mortga\e .•••.••..••..••...••.... . ••.•. o* 247 1881 1,000 2,538,000 Income mortgage onds (not oumulatlve) .•••.. c* 247 1881 1,000 2,256,000 Bouth Florida- lat mort. ($12,000 per mile) .••.. o· 189 1885 £200 4,496,920 /lo. ti No • .A.la.-lstM.. e. f., notdr'n;~ar. byL. &N. 189 1873 1,000 1,960,000 2d mort. bonds s. f. $20,000 (owned by L. & N.) .. 189 1880 1,000 2,971,000 Consol. mort. (for $10,000,000), gold .••......•. o · 189 1886 5,500,000 B. Pa,c1,ftc Ooast-lst M., g.,guar. (s.f. begins 1912). o 110 1887 1.000 (!) .... BouthPennaytvania-lst mort. (for $20,000.000) . .. . 200&c. Bouthern Oent. (N. .f.J-Consol. mort. convertible. c 114 3,299,800 100 128,076,200 Bouthern Pacific OOMPANY-Btock ($150,000,000) 15,931 Bouth. Pac. Arizona--lstM., ~.,guar. cp. or reg .. 384 '7{Pso 1,000 10,000,000 llouth.Pac.C al.)-letM.,g.• la.n jl;l" •• 11. f,notdrn _c• 1,042 ' 75-'82 500 &c. 33,332,500 1,000 7 ,253,000 Gen. mortgage, gold lfor $38,000,000) .....•.. o*&r 1,227 1888 3,145,000 Bo. Pac. Er. 1st mort. sinking fund in 1897 ..••••. 93 1>~87 500,000 45 1875 500&c. Stockton & Copperopolls-lst M.fi:(guar.by C.P.) 1,000 4,180,000 ll&uthern Pacific of N. Mczioo-lst.. ., gold ..••. c&r 167 1881 100 5,147,500 Bouth1»utern r 6a.J-Btock, 7 p. c., guar. Cent. Ga . .. 333 50 Bouthwest Pennaylvania-Stock .••• ..•• . •• _...•..••. 89 998,850 1,SOO 900,000 let M. lapsing s. fund, $5,000 yearly, not dr'n •.. r 89 1,000 2,060,000 iSkane Falls <f: Northern--let M.,$ -ZO,OOOp.m.,g.o* 103 1889 100 989,000 yten Duyvil ti P'tMor.-Btock, 8 ¼, gu. N. Y.Cent. 6 100. &c. 300,000 te Line ti Sullivan-lat mortgage . .. .•.. • •..••. c• 25 1,000 300,000 Btalen Ia land- lat mortgal!'.e .•.....•...•..••......•.. 13 1873 1,000 1,000,000 Btaf. Ial . .Rap. Tran.-lstM.,$ or £.11-.f, notdr'n .. c,. All. 1883 1,000 2 ~500,000 2d mort. endorsed by B. & O. cp. or reg., gold • .••. 1886 1,000 4 .500,000 Incomes, gold (non-oum.) .••...•..••..••..•••..•••. 1885 641,865 Btlburban Rapid Transit-Stock ($S,600,000) ..•••. (1) let mortgage bonds (for $6,600,0CO) ...••••••••••. 1:000 4,010,350 50 Summit BrancA (Pa.)-Btock . . ..................•.. . ·20 &,utlt, --· iss2 :fa ·--· i877 i879 .... .... .... i886 .... After various phases of litigation, In 1889 the Vanderbilts bougnt out the other pa.r ti~s interested at the reported price of 60 cents on the dolJar, and little has since transpired concerning the property (V. 47, p. 690; V. 48, p. 128, 160.) Sow them Central (N. Y.)-Owns from North Fair Haven, N.Y. to Pennsylvania State Line, 114 miles and branch 2 m. The Lehigh v~~v leased this road from Jan. 1, 1887, for 975 years, without any guaranty of Interest, and it ls operated by the Pa. & N.Y. Canal Co. The coneol. 5s are convertible into stock at option of holders within ten years, and $100,000 ru-e held in trust to retire $90,000 of 7 per cent prior bond11- due m 1899. Bu oouvons from Aug. 1, 1886, inclusive were :funded iuto income bondP, Stock, $1,774,950; par, $100. In 1887-88, gros11-earnings were $491,943; loss, $.12,103; in •~6'-87. gross, $482,482; net, $23,394; deficit under interest, taxes and rentals. $182,827. Southern Pacific CO1'IPA.NY.-This corporation was organized Aug. 14, 1884, under the laws of the State of Kentucky. It holds most of the stock of the Southern Pacific of California and the other rallroaci connecting with it to New Orleans, and leases each of those roads; also has a lease of the Central Paoiflo for 99 years. In March 1 889, notice was given of an lncreMe In the stock to $1150,C-00,COO, authorized. (See v. 48, p. 4213.) The stock owned by the Southern Pacific Co. Deo. 31, 1888, and the percenta"'e of net profits of the whole system payable under the lease to tif6 several lessor companies were as follows: · So. Pac. RR. Co. of California, $58,914,900, '26¼ percent; Bo. Pao. RR. Co. of Arizona,$19,992,500, 12 percent ; so. Pao. RR. co. of New Mexico, f6,886,300, 4 p Ar cent; Mor. L. & Texas RR. & ss. co.• $4,062,700, 221per cent; Gal. Harris. & Ban An. Ry. Co., $26,309,900, 1614. per cent;. Texas & New Orleans Ry. Co., $4,997,500, 7111 per oent; Louisiana West• em RR. Co., $3,310,000, 3i,i per cc,nt; Mexican International RR. co., $4,172,100; New York Texas & Mexican, $605,000; Bou th Pactflo Coast, f6,000,000; Total, $120,159,900; Galv. Har. & San Ant., West. Div. 6e. $1,110,000; total stock and bonds, $141.908,700. ' From Jan. 1 to Nov. 30, 1889 (11 months), gross earnings on the whole eystem were $42,656,991, against $42 7:.n 921 in 1889 - net $14 892. 'i94, aitainst $14 ,1362,087. ' ' ' ' ' ' The annual report for ' BS was in CHRONICLE v. 48, p. 761, 765. Earn' sor the whole system includ'g SB. lilies, in '57 and '88, w ere aa be'. ow given: 1888 5 5 761887 .04 if·i 932 .00 M"l in" , 1, ea 5 ,, i '8 0 roes ~arn ,,s ··••··••······••··••··••··••·· $37,930,162 $ 46,699,615 Operating expenses .••. •·····•· · - •·········· 22,712,198 30,708,676 E · ti - -- - Cl! arnrngs over opera ng expenses ..•..••... $15,217,963 'P15 , 990 , 939 Rentals receiv ed•······••·······•·······•··· 574,691 566,196 & J. J. & J. A. &O. J. & J. 6 Yearl~. 6 J. & . 6 g . M.&N. g . A. & 0. F. &A. 4 g. J. & J. 5 g. g g. g .---· ... .... ·--- -·- .. (!) 0 J .•&.J. A.& 0. A. &O. A. &O. J. & J. J. & J. J. &D. M.& 8. F. & A . .r. & J. J. & J. 6 J. & J. 7 A. & O. 6 g. A. & 0 . 5 g. J. & J. 6 g. 3 July 1, 1918 On demand. Oct. 1, 1920 Jan. 1, 1931 Jan . 1. 1931 . Jaa. 1, 1915 .......... London, Baring Broe. May 1, 1903 N. Y., 50 Exchanite Pl. April 1, 1910 N. Y., 50 Exchange pl. Aug. 1., 1936 N. Y., Bo. Pao., 23 Br'd July 1, 1937 F:& A. ••6.g. 6 g. fj g. 6 g. fj g. 6 g. 3111 5 7 : g. ..6. N.Y., 56 Wall Street. London. Coup. Apl.'89, purch's'd Last paid July, 1888 •• N.Y.,Ro.Pao.Co., 23 Br'd N.Y.,So.Pao.Co.,23 Br'd do do do do do do N. Y., 23 Broad St. Savannah & Macon. Philadelphia,233 Bo. 4th do do N. Y., Chase Nat. Bk. N.Y., Gr.Central Depot N Y., Union Trust Co. N .Y., foot Whitehall St. N. Y., Lond. & Glasgow. N. Y .• Of., Whitehall B.t. do do ---·. --· .. M."&N. F. &A . Phila., 233 So. 4th St. Feb:·1:··i92~ Ma:r.:"Hi00-10 1905-6 & 1912 Oct. I, 1938 April l, 1937 Jan. 1, 1911 Jan. 1. 1901\ Dec. 21, 188~ Sept. 30, 1889 Feb. 1, 1917 July 1, 1939 . Jan., 1890 Jan. 1, 1899 April 1, 1893 Jan. 1, 1913 Jan. 1, 1928 Jan. 1, 1'94.6 .i"936° Feb.16,1876 I Total surplus .••...•..••..••..•••.••..••. $15,792,654 $16,557,135 Rentals paid................ . ............... $1,937,310 $1,405,263 Taxes........................................ 1,022,263 768,091 -------$ 2,959,573 . $2,173,351 .Balance surplus . . .•...••.••... • ..••..••..••. $12,833,081 $14.383,781 Add other .recd pts.... . . •. • •• • . • •• . •• . . . • . . . ,03,203 1 583 575 ____ _•_ _:_ _ Total. .. . .. . ..•• . ........ -··· .••......••.. $13, :-.36,28! $15,967,356 Disbursements ......•.•••.•••. .••..••..••... 12,501,323 14,757,987 ___ _ _ ____ Balance.................................. $1,034,961 $1,209,369 -(V. 48, P, 428,663, 761,765,800,855, 856; V. 49, p. 52, 471.) Southern Pacific oC A.rlzona.-This is the connecting line of the South. Pacific of Cal., extending fl-om Yuma to N. Mexico boundary, 384 miles. The stock is $19,995,000. The b onds consist of Series A $6,000,· 000, due 1909, and Series B. $4,000,000, due 1910. Operated under lease to Southern Pacific Oo., the Jessee pa.yin~ all charges and also 12 per cent of the net profits of the whole Southern Pacific system. From Jan. 1 ro Nov. 30 (11 mo~.) ~rose earnings in 1889 were $1,706,435, against $1,923,589; net, $571.043, against $279,199. In 1887 gross earnings were $1,756,519; net, $702,787. In 1888, gross, $2.0~9,140; net, $~77,236. (V. 44, p. 370.1 Southern Pacific (ot' Callt"ornla). (See Map.)-LINE OF ROAD.'I'hisis the title of aconsolidat10n May 4, 1888, of sev eral Unesin Califor• nia, including tbA company of thP same name, which had bt!en form f'.d by a consolidation Oct 12, 1870. Am ong the companies consolidated in 1888 were the following, having bonds outs rano.ing: Southern Paclflc RR. of Cal., Southern Pac. Branch RR. CG., Stockton & Copperopolis RR. Co.• (1,192 miles) and tlle foll owing, whose bonds were retired: Ban Pablo & Tulare, Fan Jos~ & Almaden, P ajaro & Santa Cruz, Mon· (118 ·1 Th t l il t erey RR •• L os A nge l es & "ocan n iego mt es1. e ota m eage completed et the close of 1888 was 1,52v, of which 242·5 miles were leaeed to and operated by the Atlantic & Pac. RR. Co. There is considerable mtle~e pr~fected and under construction. The whole is leased to the Bouthnn Pac. Co., which owns nearly all the stock, the l.-ssee pay 1ng t 11e intere~t, tlxed cbarg-es. Betterments and additions, any sur)lus bemg divjded accordinll to fixed proportions with t-he other parts ot the throu~b line beLW8€-n San Francisco and ~ew Orleans. 8TOCK AND BONDB.-The authorized stock is $90,000,000, rar $100, of 1Vhieb. 159,292,800 is issued and held mostl., by the Bo. Pacific Oompany. 7he old So. P. 0onde above a.rem series A, B, C, D, E and F, o1 which A https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---6 g . J. Included $15,000,000 and B, C, D and E each $5,000.000, the balanc& being in series F; the bor;ds are issued at the ratA of $40, '.>00 per mile on road and lands, except the Colorado Di vision, which is bonded at$ 30,000 per mile. The series A, B, C and D mature in 1905-6, the seri('.S E and Fin 1912. The bonds are a mortgage on the lands, and as proceed& of lands come into the hands of the trustees, bonds are purchased and. retired. There is also a s~ing fund of ,100,000 per year. Tue new mort~age for $3_8,000,000 18 dated Au~. 2.>, 1888, to cover old line and new roads acqUU"ed; trustee, Central Trust Co. Bee mortgage abstract,.. V. 49, p. 509. LAND GRANT,-The land grant was 12,840 acres per mile, and proceeda, of sales goto retire bonds. The total lands unsold Deo. 31,'88, were estimated at 7,408,156 acres, but a large proportion of the lands is barren and useless for agricultural purposes without irrigation. In '88 the net' sales were 169,419 ~ores for $440,560; land bonds redeemed, $902,000; lanf\ notes outstanding Deo. 31, 1888, $3,185,341. From Jan. 1 to Nov. 30 (1 l mos.) gros_s earnings (both divisions) were $7,719,786 in 1889, against $8,053,659 m 1888; net, $2,516,933 ln 1889,. against $2,44.1,661 in 1888. . In 1887 gross earnings ot both divtslona w:_ere $5,865,644; net, $1,954.744; in 1888, itross, $9,576,658: net, $2,9.:>6.-150. -(V. 47, p. 490, 594; V. 48. p. 855, 856; V. 49, p. f>.09.) Southern PacUlc oC New Mexlco.-Owns Arhona. State Line to Rio Grande bridge, 167 IJ?iles. Oper11ted under lei,,ee to Southern Paciflo Oompany, the lessee paymg all ollargee and 4 per cent of net profits of thew!tole So. Pacific ,yetem. Stock, $6,888,800 (par $10ql. From Jan. 1 to Nov. 30 (11 mos.) gross earnings were $865,523, agamst $ 116,725; net, $347,517, against $277,006. Gross earnin~ in 1888, $1,003,638; net, ,307,732; in 1887, gross $735,736; net. $313,408. Southweacern (Ga.)-Own~ Macon, ~a., to Eufaula, 144 m., and branches 189 m.; the main one bemg from F t Valley to Columb~s, 71 m. Leased in perpetut~y Aug. 1, 1869, to the Central RR. of Georgia, '1\'hioh a.ssumes the liablli~es and guarantees 7 per cent on the stock, but 8 per cent is to be paid if 10 per cent is paid on Central stock. 1Couclawe111i Penn111ylvanla.-Greensburg, Pa., to Fairchance, P~,. 44 miles. and brancbe~, 4.5 mile~; total, 89 miles. Opened April 1, 1873~ and leased yearly t o Pennsylvarua RR.. which opere.tes _it at cost, payIng net earnings as rental. P ... nn. RR. owns $704,8.>0 or . stock and il600,000 of bo~ds. An Increase of E>took from $1,000,000 to $3,000,00:) was authorized in Nov., 1889. In 1888 gross earningl were $843,64.9; net. earnings, $380,935. (V. 49, p . 654.) Spokane Fall• & Northern.-Under c ontract to be constructed rrom Spokane Falls, Wash. Ter., to Little Dalles on Col11mth Ri ver. with branch 130 miles, of which 103 miles to Marcus is compltted. i't'Iortgage coveril ent ire property. Man "attan Trust Co, New Yor ,, trustee of mortgage. Stock authorized, $2,500,000 (p a.r $100}; 0 ~~t~t:~~~: 1k7;_ogi~.r 1;Ji~f v:ii~sj;_ C. Chapin, 192 Broadway, NSpttyten Dttyvll & Port Morrl111.-Road is 6 miles in length an4 oonnectstheNewYork Central & Hudson with the New York &Ilarl9m. Lee.aed to New York Central November 1, 1871, till D 0 0. 31, 1970. Rental is 8 per cent on capital stock of $989,000 . State Line & Sulllvan.-Owns from Monroeton, Pa., to BerenJce. Pa., 25 miles. Stock, $990,000 (par $50J. The mortgage covers 5,000 acres coal lands. Tb.e bonds were redeemable Jan. I , 1889, but it was agreed t o re:luce interest to 6 per cent and extend them till Jan., 189!}~ In May, 1884, this road wa@ leased to the Penn. & N. Y. Canal & RR. Co. for fifty yea.rs ; reut al, $40,000 per annum. Staten l8land.-Clifton to Tottenville, 13 miles. Capital stoek orl~inruly $210,000, p ar $15 per share, but being bought •Y company ·for $65 a share this is now taken as par value, and whole a nount asf910,000. Leased to Staten Island Rapid Transit Co. for 99 years from J :;ly 31, 1884, at- $80,600 per annum. !!taten I8land Rapid Tranl!IU KK.-The line of road is around the Staten Island shore, east and north sides, rrom Vanif.erbilt Lauding (junction with tbe 8. I. Railway) to a point opposite Elizabethport, N. J. It has a 99 years' lease of the S. I. Railway and controls the Ferries. to N. Y. City. In November, 1885, the a~eement with BaJt. & Ohio was reported for ma.king the terminals of that RR. Co. at St. George by mean& of a brid~ e over the Kills at Ellzabethport. The bridge has beAn completed. The B. & 0 . guarantees the 2d mort. bonds of this Co .. and owns a majority of its stook of $500,000. The income bonJs are held by the B. & o. ands. I. R. T. Cos., one•halt each. From Oct. 1 to Nov. so, li-'89, (2 mos.) gross earuiugs ware $117,741,. aaainst $113,756; net. $18,078, against 13.350. 1n year ending Sept. 30, 1889, gross earnings wcN' $928,033; net. $ 28 6. 5 08: deficit under fixed charges, $J.,777. In year ending Septem• o 1888 rn1 $907 759 t $30fi 16:l 1 • grose ea ngs were ber 3 • • ; ne , '• ·· ; surp us ovflrinterest. taxes. rentalR, &c., $2:'>,UO. CV. 47, p. 1-40, 161, 8U3; V. 48, p. 190,fi90; V.49,p.145,617,688,789.) Suburban KaKld Tran8U.-Tbis company has built a bridge h H 1 · N y c· di · t· to 1 str across t e a.rem i ver, . . tty, an s m opera JOn 71st eet, N. Y., 2111 miles. The line as lald out is 14·90 miles long. Litt16 information has yet been obtainable concerning its finances. In July. Us861 the Manhattan Elevated stockholders were offered the privilege 01 taking its stor k and bonds as follows: Each 100 shares of Manhattan entitled to take 7 shares s. R. T. co., and 7-10 or a $1,000 bond. Stock issued Sept. 30. 1888, $641,865; no bonds at that date. In year ending Sept,. 30, 1889, gross earnings were $166,3~7; net.. $&5,489;: surplus over fixed cbarg-es, $22,096, against deficit in 1887-88. Samuell. R. Filley, President, N. Y. (V. 49, p. 857.) MAP O.F THE SOUTH ERN PACIFIC,. COMPANY A~DAILR OADS STEAMSHIP CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis · https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE TENNESSEE MIDLAND RAILWAY & CONNECTIONS. • JANUARY, 1690. I RAILROAD 13S STOCKS AND BONDS. Subscribers -will conCer a great f'avor by giving bnJDedlate notice of any error discovered In these Tables. Bcmcts-PrlnofINTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or Amount Rate per When Where Payable, and by pal, When Due. Par Outstanding of For explanation of column headings, &c., see notes of Stocks-Last Road. Bonds Value. Cent. Payable on :first page of tables. Whom. Dividend. Summit Br.-(Oont'd) -lst M. bonds, sink. fund .. . IJunb'ry Haztet'nd: Wilkesb.-lst,Ser .A. & B.dr.at 100.c 2d mortga_.le· income ......•..••..•.......••. . . c&r Bunbury d: ewistown-Stock ....... •••••.•.•.•.•••• • 1st mortgage . . .•.•••..•......•.......••••...•.... c" Suspension Bridge cl Erie Junction- 1st mortga~e, principal & interest guar. by Erie. Syracuse ct: Baldwinsville.-lst mortgage, gold ... c• Byracuse Binghamton d: N. Y.-Stock .............•. Consol. M. (prin. and int. guar. byD. L. & W.) . ••. Syracuse Geneva d: Oorning-lst M.,s.f.dr'n at par.c -20 -- --1874 $1,000 43 43 43 43 1878 1878 23 7 81 81 57 57 43 1870 1886 2d mortg~e ......................•......•....•... c Byracuse Ontatio d: New York-1st mort ............ 2d mortt income (for $500,000) ..•.......•.....•. Tennessee idland-lst mort., f!., $20,000 p.m . .. ck i3·3 2d mort. inc :ime, non•cum. ($10,000 p, m.) ..... c• 133 J'erre Haute cl Indianapotis-Stock ($l,!J88,150) .•.. 461 1st mort. (provided for by conso1 mort.) ....•. c&r 114 Consol. mortgage for $2,200,000 ..•..••...•.....•. 114 J'erre Ha~i!e & Logansp.- 1st M., guar. by T.H.& Ind. 93 lstM.,on Lo~ns toSouthBend(2don93m.),guar. 65 Terre Hauie ce eo~lst mortgage, gold ....•... c 144 Te:l:as Oentral-lst mortga§_e, gold .........••..•• ,c* 177 N. E. Div., mort., gold (2 on 177 miles) .••..••. c* 52 General mortgage, (pledged) ......•....•..••...•. c* 228 Texas d: N. Orkans of '74-lst mortp:. land gr .. c*&r 104 Babine Division, 1st mortgage, gold ..•..••... . c* &r 104 Debentures ................ . ....................... J'exas d:Paciffo-New stock, $50,000,000 ...•........ 1,487 1st m., gold (Eastern Div.,, s. fd. red. at 100 .c• 524 1st consol. m01·t. for $25,00 0,000, gold ..••..••. c* 1,487 2d consol. M., income, non•cum. ($25,000,000), g.c* 1,487 54 fioga RR.-lst mortgage. due 1882 and extended. ---- 1876 i876 1875 1879 1883 1883 1887 1888 i873 1885 1879 1883 1887 1879 1881 1884 1875 1882 1883 i875 1888 1888 1852 100 &c. 100 &c. 50 500 1,000 500 100 1,000 l00&c. 1,000 1,000 $1,185,000 1,176, 600 1,350,000 600,000 500,000 1,000,000 160,00i) 2,500,000 1,966,000 820,800 600,000 900,000 Nil. 1:000 2,468,000 1,000 1,064,000 50 1,988,150 1,000 1,600,000 1,000 60v,000 1,000 500,000 1,000 1,000,000 1,000 1,800,000 1,000 2,145,000 1,000 1,254,000 1,000 2,286,000 1,000 1,620,000 1,000 2,075,000 100 584,000 100 38,706,700 1,000 3,784,000 1,000 21,049,000 1,000 23,227,000 500,&c 239,500 - - -· - - 7 5&6 6 3 7 J. & J. Phila., 223 So. 4th St. M.&N. Philadelphia, Penn. RR. M &N. do do A. &O. Phila., Guar. T. & D. Co J. & J. do do Jan. 1, 1904 May 1, 1928 May 1, 1938 Oct. 1, 1889' July 1, 1896 J. & J. N. Y. Lake Erie & Wbst. July 1, 1900 7 July 1, 193tl ~ g. J. & J. Jnly, 1888, last paid. Q.-F. N.Y., D. L. & W. RH. Co. Nov. 27, 188l> A. &O. 7 do do Oct. 1, 1906 7. M.&N. :t:.Y.,Farmers' L.& T.Co. Nov.15,1905 M.& S. N. Y., Gr. Cent. Depot. Mar. 1, 1909 5 6 J. &D. None paid. 1933 6 .York ·-· Agency. Nov.1983 M. ·&-·.s. New 1, 1937 ~ g. J. & J. When earned. Jan. 1, 1938 3 F. &A. N. Y.,Farmers' L.&Tr.Co Feb., 1890 7 A. & O. do do April, 18»3 5 J. & J. July 1, 1925, do do 6 J. & J. N.Y.,Farmers'L.&Tr.Co. Jan. 1, 1910 6 J. & J. do do Jan. 1, 1913: 5 g. M.& 8. N. Y., Union Tr. Co. Mar. l, 1937 7 g. M.&N. Last paid Nov., '84. Nov. l, 1909 7 g. M.&N. Last paid Nov., '84. Ma.y 1, 1911, Nov. 1, 1934.· None paid. ; t- M.&N. F. & A. N.Y.,S'l.Pac., 23 Broad. Aug. 1, 1905, 6 g. M.& 8. do do March 1, 191~ 6 J. & J. do do Dec., 1893 ..6.g. M_-&-·s. N.Y.,Mer'leTr.Co.&Phil MaroJ:i.'i;·foo5, 5 g. J. &D. do do June 1, 2000 5 g. Marohl None paid. D ec. 1, 2000 5 M. & N. Phil.,Newbold'eSon &Co Nov. 1, 1915 ---· .. SumJDlt Branch (Pa.)-This company's business is almost en - 6 per cent and $3,240,000 com.; par $100. The bonds were issued to tirely in mining coal; it leases the Lykens Valley RR., Millersburg to pay off receiver's certitl.cates and to furnish money for steel rails, equipWilliamstown, Pa., 20 miles, and has a small branch of its own to Sum• ments, &c. In year fnding June 30, 1889, gross earnings were $323,mit Mines, ~ of a mile, The road is operated by the Northern Central 153; net, 11;100,321; interest, $9 0,000; surplus, $10,321. C. W. Fairunder contract. Penn. RR. owns $2,190,100 stock and $500,000 bonds. banks, President, Indianapolis, Ind. In 1887 gross earnings were $1,358,814; net. $128,260; surplus over '.l.'exas 0entral.-Line of road from Ross, in McLennan Co., to interest, $45,310; de:ticit under Lykens Valley deficit, $55,051. In Albany, Texas, 177 miles; Garrett to Roberts, 52 miles; total, 229 1888 gross, $1,442,671; net, $ 202,489.-(V. 46, p . 173, 228.) 111iles. Is controlled in Houston & Texas Central interests, by which Sunbury Hazleton & Wllkesbarre.-Sunbury to Tomhtcken, iompany it is operated; but accounts are kept separate. The authorized Pa., 43 mUes. Foreclosed March, 1878 . Of 1st mort. $1,000,000 is ;itock is $1,000,000; total issued, $200,265, of which H, & T. C. holds1 se1·ies A. Stock ($1,000,000) and $185,000 lsts (series B) and $488,600 $50,000; Morgan Co., $75,000; directors, $5,300. Defaulted in interesli incomes are owned by the Pe1ll'. RR. which pays net earnings as rental. in 1885, and roail was to be sold June 29, 1887, but d elayed by an apSinking fund for 1st mort. now draws about ;¼;8,500 bonds yearly at par. pea!. An order allowin.~ the issue of rece ivers' certificates was appealed Gross earnings In 1888, $562,143; net, over expenses and taxes, agamst in 1889. (See V. 48, -p. 160.) In 1888, gross, $2t9,599; deficit $245,332; dividends (5 p. c.), $50,000. J, N. Du Barry, Pres., Phlla. (V. under operating expenses and taxes, $17,125, agsi.inst $32,132 in 1887. -(V. 44, p. 495; V. 48, p. 160.) 48, p. 763.) Texas & New Orleans (of' 18'74).-Houston, Tex., to Orange Sunbury & Lewtstown.-Selinsgrove Junction to Lewistown, (Sabine River), 104 miles; and Sabine City to Rockland, 104 miles; Pa., 43 miles. Leased for 99 years from July 1, 1876, to Pennsylvania k>tal 208 miles. Belongs to the Huntington Southern Pacific system, RR. for contingent Interest 1n net earnings, which in 1885 were $168,· together with the Loui.siana Western. This was a reorganization, 1874 268; in 1886, $123,536; in 1887, $156,709; in 1888, $123,619. of the old Texas & New Orleans RR. The stock is $5,000,000, ana1 Suspension Bridge & Erle .Tunctlon.-East Buffalo Junctlen a. controlln.g interest is owned by the Southern Pacific. In addition to to Niagara Falls and Suspension Bridge, 23 miles; Lock. & Buff. RR. above boL ls, there are $462,663 Texas School bonds. . leased, 14 miles; total operated, 37 miles. Road opened January, 1871. From Jan. 1 to Nov. 30. in 1889 (11 mos ), gross earrungs were $1,It is leased toN. Y.L. E. & West. RR. Co. at 30 per cent of gross receipts, 566,976, against $1,312,269 in 1883; net, $622,324, against $3 3 l.,286. which are guaranteed to be not less than interest on bonds, $70,000 Gross e&:tnln~s in 1887 were $1,267,563 ; n et, $563,3!J3. In 1888, per annum. Lessees own $203,000 of the stock ($500,000). gross, $1,438,5,8; net, $424,664. C. P. Huntington, Presid ent, N. Y. Texas&; Paclflc.-(See .lfap.)-Owns: Eastern Division -From TexSyracuse & Bald-winsvllle.-0wns Baldwinsville, N. Y., to Amboy, N. Y., on the West Shore Railroad about 7 miles. Stock is arkana to .i!'ort Worth, via Whitesboro,244 miles; Texarkana Junction to $60,000-par $100. D efault was made on coupons due Jan., 1889, and Fort Worth , via Marshall, 248 miles; Marshall to Shreveport, 40 miles; foreclosure proceedings are io progrees. In year ending Sept. 30, 1889, total eastern division, 532 miles. Rio Grande Divisi.on-1:"ort Worth to gross earnings were $15,930; net, $4,44.0. In 1897·8, gross, $15,782; Sierra Blanco, 524 miles; Sierra Blanco to El Paso (joint track), 92 miles; Gordon Branch to coal mines, 3 miles; total Rio Grande division, 619 m . net, $4,275-!Vol. 48, p. 129.) New Orleans IJ1vision-(Formerly N. O. Pacific RR.) Shreveport to N. O. Syracuse BlngbaJDton & Ne-w York. -Owns from Geddes, and Baton Rouge Brauch, 336 miles. Total of all, 1,487 miles. N. Y., to Binghampton, N. Y., 81 miles. Chartered as Syracuse & Bing• '!'he Texas & Pacific was built under act ot Congress of March 3, 1871, hamton and opened Oct. 18, 1854; foreclosed and reorganized April and other aots in 1872 to '74, and the laws 0f Texas. iS0, 1857, and controlled by Delaware Lackawanna & Western. In year lo 1888 the company was reorp:anized pursuant to the plan in V. 43, ending Sept. 30, 1888, gross earninizs were $908,084; net, $444,194; p. 164 and V. 45, y. 4.01, without having the Court confirm the sale in surplus over charges and dividends, $83,473, against $109,048 in 1886· roreclosure made ill Nov.• 1887. 87.-(V. 45, p. 212; V. 4o, p. 610; V. 47, p. 161; V. 49, p. 174, 617,789.) At the reorganization a Land Trust was formed. See in the SUPPLE · Syracuse Geneva & Cornlng.-Owns from Corning, N. Y., to UENT under the title Texas Pacific Land Trust in "Miscellaneous Geneva, N. Y., 58 miles, and Penn Yan to Dresden, 6 miles; total, 64 Companies." mllea. This road was opened December 10, 1877. and is leased to Trustee of first mortgage of 1888 is Fidelity Ins. Tr. & Safe Dep. Co. the Fall Brook Coal Co. at a rental of 331:l per cent of its ~oss earn of Philadelphia; of second mortgage of 1888 Mercantll--1 Trust Co. of ings. Stock is $1,325,000 (par $1.00l, of which N. Y. Cent. '& Hud. R. N. Y. Unless full interest is paid on income bonds after March 1, 1892, owns $662,600, besides $ll 3,000 7 per cent bonds. In 1887-88 gross the income bondholders m ay take control. (See mortgage abstracts, earnln~s wer•• $676,197; net, $189,905; renta.l, $:225,399; taxes, $7,- CHRONICLE, V. 47, p. 82.) 878; deficit to lessee, $43,371. (V. 49, p. 579.) Range of stock prices since May 9, 1888, of new stock, have been : 7 Syracuse Ontario & Ne-w York.-Owns from Syracuse, N. Y., rn 1888. 18 s1i>26~; in 1889, 17¼1i>23; in 1890 to Jan. 17, inclusive, to Earlville, N. Y., 45 miles. The road was twice sold in foreclosure 20~ '1. 22%. The first annual report eince reorganization was in the CHRO~ICLE of and reorganized under present name iH. 1883. The West Shore acquired control of the property. Stock. $404,600-par, $100. In year ending March 9, 1889, p. 324. 1888. 1887. Sept· 30, 1888, gross earnings were $114,578; net, $16,043; deficit under Gross earnings .................................. $6.374,386 $6,1 3,768 charges, $79,318. Expenses.............. . . .. . .. . • ... . . . . . . . • • . . • • . 5,071,669 5,965,186 TenueHee lllldland.-(See Map.)-In operation sbce July 1, 1889, from Memphis, Tenn., to Perryville, on the Tennessee River. 135 Net earnings................................ $1,302,717 :ti218,582 miles (of which 2·4 are leased), and under construction PerryviLie to Improvement acc't.. . ........... ... ...... ....... $777,062 $315,913 Nashville, 92 m.Hes. Projected to Virginia State line ('>15 miles in all) on New equipmentt acct........................... 280,065 332,544 a maximum grade of one per cent. Local aid to the extent of $600,000 INCOME ACCOUNT, 1888. has been secured between Memphis and Nashville. Operations for first Net earnin~s from operation................................. $1,302,717 twelve month;i on an average of 112 miles showed gross earning;i, A id other mcome............................................ 130,936 $173.600; net, $48,720. Stock authorized, $25,000 per mile; outstandTotal net income .................................. ........ $1,433,653 ing, $3,110,000; par, $100. Trustee of first mortgage, Cent. Trust Co., From wh'ich were paidN.-Y.-(V. 49, p, 227.) Terre Haute & Indlanapoll8.-0wns from Indianapolis to Illi- Cnterest on bonds............ . ................... $916,i91 Expenses prior to Dec. 1, 1887 .... .•••••. .•. .... 260,675 nois State Line, 79 m., with coal branches, 4.1 m.; total, 120 m. Leases 73,460 Terre Haute & Logansport RR., 183 m.; St. L. Van. & T. H., 158 m.; Rentals , interest, dis cQunt, &c.................. B alance a pplied to betterments . ................ 182,72-l-$1 433,658 total, 461 m. Company leases alsq. the St. Louis Vandalia & Terre Haute Road on joint account with the P1ttsb. Cm. & St. Louis RR., at 30 per -(V. 47, p. 82, 83, 314, 532, 690; V. 48, p. 324, 327, 490, 562.) Tloga.-State line junction, N. Y., to Hoytville, Pa., 61 miles, and cent of gross earnings, but guarantees the first and second mort. bonds. In June, 1887, a controlling interest in the stock was sold to Cincinnati Blossburg, Pa., to Morris' Run, Pa., 3 miles, of which is leased Elmira Hamilton & Dayton, but pledged by H. S. Ives as security for loans and State Line Railroad, State line New York to Northern Central RaJJ. payment of notes, and matter is now in litigation. In year ending way Junction. 7 miles; and Arnot & Pine Creek RR., Arnot June. to Oct 31, 1888, gross earnings $1,196,914.; net earnings and otlfer re• Hoytville, Pa., 12 m. Controlled by N. Y. L. E. & W. In 1888, gross ceipts, $312,752; interest and 6 per cent dividends, $261,289; loss on earnings were$332,692; net, $131,8 55; surplus over interest, rentals, T. H. & L. lease was $64,372; deficit, $12,910. Dividends since 1876 &c.• $66.586. against $57,845 in 1887. The stock is $391,200 common 6 h <tve been: Tn 1877, 6 per cent; from 1~78 to 1884, inclusive, 8; from and $189,700 preferred: par $50. Toledo Ann Arbor & North llllchlgan.-(See Map.)-Owns 1885 to date at the rate of 6 per cent per annum. (V. 46, p. 321.) Terre Haute & Locransport.-0wns from South Bend, Ind., from Toledo, O., to Copemish, 276 miles, and branches to South Lyon to Rockville, Ind., 160 m.; feased, Rockville to Terre Haute, 22 m. Total and Ma con Stone Quarry, 10 m .; total owned, 286 m. L eases Frankoperated, lo3 m. Formerly Logansp. Crawfordsv. & Southw. which was fort & Southeastern 8R., Copemish to Lake Michigan, 23 m. Total opsold in foreclosure Sept. 10, '79, and reorganized under present name. erated, 3 00 miles. Stock is $5,300,000; par $100; car trust debt. $224,Leased by Terre Haute & Indianapolis RR. for 99 years from D ec., '79, at 445. The first mort. of '81 covers the South. Div., formerly called the 25 p. c. of gross earn's, and first mort. bonds guaranteed by that com• Tol. A. A. & Gd. Trunk RR., and the mortg. ol '84 covers road between pany. Stock, $500,000; pa,r, $50. Rental in 1885·86, $119,759; loss to Ann Arbor and St. Louis, Mlch. Of the consol. mort. of 1889 (Trustee Farm. Loan & Tr. Co.) sufficient bonds are reserved to replace divislessee, $89.482. R ental in '87-8, $135,307; loss to lessee, $6i,372. Terre Haute & Peoria.-( See Map) .-Road oper11,ted from Terre ional securities when due, and the remainder a.r e to be issued for imHaute, Ind., via Decatur, to Peoria, Ill., 173 milea, of which 144 miles provements and new road, total issue to be at $20,000 per mile. The are owned and 29 miles is by trackage over other :i-o~ct.s. Formed In. annual report for '88 was in V. 48, p. 5~8, 590, and showed the following Jan., 1887, as successor of the ID. Midland, Stock 1s $2,160,000 pref. comparative statistics for three years. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE .TERRE HAIJTE A~TD PEORIA RAILROAD AND ITS CONNECTIONS. ~ ~ trj m ~ 0 ~ WEST'N CEN . I ~ 00 q f-tj ~ ~ trj ~ ~ r3 \ MAP OF THE TEXAS & PACIFIC RAILWAY & CONNECTIONS. i• I i -, 0 Q) a:) T-i t ◄ t:J z ~ '! https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 Jp. Q ~6%..,, 136 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. rVoL, L, JANUARY, 1890.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. 137 MAP OF THE OLEDO & OHIO CENTRAL - TENSION RAILROA , AND CONNECTION ~ - \.. o Eagle Mills easan on t!..'\~ 0 any t .. '\,\lo _ c69"\~- esvme ',aoc'is:\ '.Ktn·gs%ucy ~ lSS INVESTORS' SUPPLEMENT. [VoL, :L. Sub•crlbers wUl conf'er a grea, Cavor by ,rtvtnar lm.medla,e notice ot any error discovered In ,he•e Table•• INTEREST OR DIVID~ DB. B<>n.<U--Prlnal DESCRIPTION. D:rte B~~or Amount Rte Wh Wh p bl db Pf•'?en~ column headings, &o., see notes ~es ~A. Bonds Value. Outstanding acenpter ere ·a.ya on first page of tables. Ro -... . P a.yaebnle Whom.e, an Y ~Divl•d-end. fror explanation of ---------------------1-·- ----·1------1---54 1876 $1,000 $125,000 7 f!ioga RR.-( Oontinued.)-Consolidated mortgage .. 1 Extension bonds ..•..•..•....••......•••••.•••..••. Elmira State Line Railroadlst mort ..•••••••.•••. l'oledo A.nn A.rbor cf 20 7 1J.st mort., South. Div. (T. A. A. & G. T.) ..••..•••.. ,,-st roort., gold, Ann Arbor to flt. Louis, Mich .•••. : 1.st M. T. A. A. & Mt. Pleasant R',r, gold .••.•••. c* ·11st M., 'J::ol. A. A. & Cad1llac Ry., gold .•.•••..••. c~ 309 63 106 21 63 ~oledo Ool. cl Oinn.-let mort.,gold(for $2,500,000) :Z.oledo cl Ohio Oentral-lst mort. gold, interest guar 256 iii? N. Michigan-Stock .••••••••••• t~t!i. ~\~ tf.loo:'5oo g.: ·<$20:000·per·in>~c• Car trusts,. Series 1, 2 and 3 ..••...•. •··· •· • •·· •··· •• • . 45 T.& O.Cent.Ext.coneol.M., gold, for $1,500,000.o* 60 S'ol. Peoria cf West.- lat M., new (for $5,000,000). o* 230 . Scrip for coupons in 1888 (payable at will)......... 230 l'oledo Bt. L. cf Kansas o.-lat M., g. (red. at 105)c* 451 1!fJledoSag.cf.Muskegon-lstM.,g.,$17,000p.m.o'"&r 96 l'onawanda Valley cl Ouba-lst mort. ($500,000).. 60 iucson Globe tt N.A.r. -1st M., g. s. f., (red. at llO)o* 10 lyrone cl Olearftetd-Stook, 5 p . o. rental, Penn. RR. 105 1st mort {$100,000 cum.), sink. fund, not dr'n . r 105 ~ter cl Delaware-lat mortgage .................. o 74 . Consol. mortgage ........ .. •....•.........•••••.. . o 74 Vnited N. J. RR. cl Oanal Oo's.-Stook, 10 p. c., gu. 467 Gen. M.,1871, ster. loan, s.f. $36,920 yr.not dr.g.c ') ~ do do d<J do s .f. $36,000 yr.notdr.g.o f'"' ....1 .do do our. loan, s.f. $40,000 yr.notdr . r ~ : do do loans of 1901, gold ...••..•••.•• . c ~ Oos do do loan of 190P, gold .....••.•••..••. r do do loan of 1923, gold . .••••..•••..••. r ~ ~ do do loan of l!l29. iro ld .......... •. c&r J e.:i "' ~otedo cf Ohio Oenl. Extens.-Mar. Mineral 1st M .... 1,000 1875 1875 500, &o. 100 1,000 1,000 1884 1,000 1886 1,000 1886 1,000 1889 1,000 1889 1889 1885 1:000 '85,7,8 1885 IOO&o. 1,000 1888 1887 1,000 1888 Various 1,000 1886 1,000 1888 1,000 1881 1887 500 &c. 50 i882 1,000 1875 1,000 1888 1,000 .... 100 1869 £200 200 1871 1871 1,000 '73·'76 1,000 1878 1,000 1883 1,000 1.000 18f.9 issi 265,000 160,000 5,300,000 1,260,000 2,120,000 400,000 1,260,000 Nil. Nil. (1) 3,000,000 482,933 650,000 850,000 4,500,000 135,000 9,000,000 1,560,000 500,000 165,000 1,000,000 1,000,000 200,000 1,342,600 21,240,400 1,846,000 1,800,000 2,000,000 5,669,000 841,000 1,824,000 6,020.000 7 7 --6-g. M. & N. N.Y., N. Y. L. E. & W. Nov.1, 1898 AA.• && o _. Elmirtla ,ChemungCo.Bk. Oct. 1, 1905 0 0 d0 Oct. 1, . 19P5 0 J. & 0 J. N.Y.,Fa~ers L.&Tr.Co Jan:T,--i921 .May 1, 1924. "ept. 1, 1916 Mar. 30, 1917 July 1, 1919 J. & J. do do Jan. 1, 1940 ••. . . • . . . •• • • • July 1, 1939 J. & J. N. Y., Central Trmt Co. July 1, 1936 Var's. By installm'ts. M. & N. N.Y., Farm L. & Tr.Co. May 1, 1915 M. & N. N. Y., Am. L'n & Tr. Co. Nov. 1, 1938 J. & J. New York, Moran Bro!!, July l, 1917' April. do do April 1, 1893 J. & D. N. Y., Bk. of N. Amer. June 1, 1916 J. & J. N.Y.Of. 271 Broadway. July 1, 1918 M. & S. Last paid, March, 1884 Sept. 1, l 93~ J. & J. Bos,iAm.L.&Tr.Co; Lon July 1, 1917 J. & D. Phi a., 233 South 4th. Dec. 30, 1889 J. & J. Phila, Penn. RR. Co. Jan. 2, 1912 J. & J. Rondout, Co.'s Office. July 1, 190~ J. & D. New York. June 1, 1928 Q.-J. Phila. and N. Y. Offices. Jan. 10, 1890 M. & S. Lond.,J.8.Morgan&Co. Moh. 1, 1894 'M:. & 8. do do Moh. 1, 1894. A.. & O. Pbila.. Pennsylv'a RR. Oct. 1, 1894. M. & 8. do do Moh. 1, HlOl M. & 8. do do Sept. 1, 1908 F. & A. do do Feb. 1, 192:t M. & S. do do Sept. 1, 192 9 6 g. M. & N. N. Y., Central Tr. Co. 6 g. M. & S, N.Y.,Offloe, 150 B'way. 6 g. M. & 8. do do 6 J. & J. do do 5 g. 5 g. 5 g. 6&7 6 g. 5 g. g. 6 g. 5 g. t 6 7 g. 2¼ 5 7 5 2¼ 6 g. 6 g. 6 6 g. 6 g. 4 g. 4 ,c. 188?. the work of construction. A bstraot of mortgage (Am. Loan & Tru.st Co. 245 of N. Y . and Joseph E. McDonald, trustees), in V. 45, Jl. 403. N. Y offloe,44 Wall Street. (V. 47,p. 188,344;V. 48,p. 452,764, V. 49, p.115. $687,579 Toledo Saginaw & 1'Iuskegon,-From Muskegon. Miob., to 433,392 Ashley, Mich., ~6 m,, oonneotmg whh the Toledo Ann Arbor & N. Mich $193,146 Net earnings .••.•••.•••.•...•••• $158,157 $254,187 On Aug. 1, '88, the Grand Trunk of Canada purohaEed the $1,600,000 184,800 'Interest on debt.................... 145,600 236,800 stock and above llonds were issued having a traffic guar. trom that road and the Chicago & Grand Trunk. (V. 45, p. 7t8; V. 4 7, p. 161.) Surplus for year....... . ........ $12,557 $8,346 $17,387 Tonawanda Valley & Ouba,-Owns from Attica, N. Y. to Cuba James M. Ashley, Pres't, 150 Broadway, N. Y. (V. 45, p. 768; V. 46, N. Y., 60 miles. Stock $587,100. Mr. Bird w. Spencer WM appointed .p. 587,771, 382, 4.42, 473; v. 48, p. 588, 690; v. 49, p. 84, 270,690,) receiver in 1884 and suit against N. Y. L. E. & W. is pending in Court Toledo Col. & Clnn.-Owns from Toledo to Findlay, O., 41 miles, of Appeals; won by Receiver in Supreme Court at General Term and 1n progress to Kenton and, via Marysville, to Columbus, O. This Gross earnings in 1887-88, $17,381; deficit, $1,153. tV. 4.g, p. 562.) Tucson Glo·be & Northern Arlzona,-Projected and under was the Toi. Col. & South., foreclosed Oct. 16, 1888. Stock, $2,400,000. co11struotion from TU<'EOn, A.riz., on Southern Pacific RR. to Globe, 110 ~tevenson Burke, President.-(V. 49, p. 374.) m., with branch to ooalfttlds, 20 m. Mortgage is for $.!0,000 per mile Toledo & Ohio Central,-Owns from Toledo, 0., to Corning, 184, Tyrone & Olearfl.eld,-Vail, Pa., to 'Curwensville, Pa., 46 miles miles, including 12 m. leased; Thurston to Columbus, 29 m., Including 5 m. leased; t otal owned, 1~7 m. Leases also: Corning to JaoKsonville, branches, 59 m.; total, 105 m. This Co. was leased to the Pennsylvania, 1.0 m ., Glouster to Carrington, 11 m.; t01;al leased, 38 m.; total RR. for 50 years tn 1882 at $112,400 per annum. All stock and bonds operated, 235 m. This company was formed after sale in fore- are owned by the Penn. RR., the bonds btiog pledged under 1ts colclosure of tbt=1 Ohio Cent. main line on April 15, '85. The preferred lateral trust of 1883. Dividends of 5 per cent are paid yearly. Gross stock ls $3,700,000; common, $1,849,000; par both $100. The pre• earnings in 188s;z, $615,613; net, $130,030; rental, $112,500; profit ferred is entitled to 5 per cent non-cumulative, then common to 5 per $17,530. J. N. Du Barry, President, Philadelphia, Pa. cent, then preferred to 2 per cent, after which both share equally. The Ulster & Delaware.-Owns from Rondout (Hudson River), N. Y. fl.rat mort,tage 1s for $5,000,000, but no more than $3,000,000 can to Stamford, N. Y., 74 miles; branch to Hobart, leased, 4 miles, be issued except by consent of three•fourths of the present bondhold- total 78 miles. Stook$1,152,100; par $100. There is also a $50,000 7per ers. Pref. stock issued iu 1888 was for terminal!.', etc. The bonds have cent real estate mort. Conrnl. mt,rt. bonds have been exchanged for their interest guaranteed by the Col. & Hocking Valley RR. Co. and the all but $82,600 of the old inoomee. In year ending Sept. 30,'89, the stock of Col. & H . V. Co. was given in exchange for Tol. & O. C. stock gross earne.were $340,426; net, $92,824; surplus over charges, $5-t, .on terms n oted in V. 40, -p. 597. 107, against $32,657 in 1887-88. T.hos. Cornell . is Pres't, F.ondout, N From July 1, 1889, to Nov. 30, 1889 (5 montb s), gross earnings were Y. (V.46,p.669; V. 4P, p. 84.) $6le,340, against $ 549,151 ln 1888; net, $261,179, a,1rninst $168,615. 'United New .Terser Railroad & Canal Co,-LINES OF ROAD. Fiscal year ends June 30; report for 1838·89 was in V. 49, p. 372. New York to PhiladelP-hia and branches, 135 miles; Camden to Amboy INCOME ACCOUNT. a.nd branches, 247 miles; Trenton to Manunka C'hunk and branches J885-6. 85 miles; total operated, 467 miles. Delaware & Raritan Canal, 66 miles l 886-7. 1887-8. 1888-9. Gross earnings ...•..••. $697,989 The United N. J. RR. & Canal Cos. were leased in May, 1871, to the $961,40'7 $1,167,576 $1,163,617 Net earnings .••..••...•. $ 124,736 $288,80! $360,827 *$345,022 Penn. RR. for 999 years, at a rental of 10 p. o. on the stock, oesides in terest on bonds. Penn. RR. owns $1,350,000 stock. In 1888 gross Deauct. Interest on bonils ...... $HO.OOO $150.000 $150,000 $150.000 earnings werP. $17,100,852; net, including income from investments, $4,729,262. Net loss: In 1881, $302,864; in 1882, $568,759; in ()tl1er interest, &c .•.... 7,692 4 ,986 16,070 37,526 Rentals . . . • . . . . . . . . . . . • . 15,684 12,217 13.979 7,668 1883, $635,914; in 1884, $593,536; in 1885, $159,496; 1n 1886. $179, 016; in 1887, $227,991; in 1888, $160,501. Sinking funds Dec. 31, . Con struot'n and equip.. . ...... . 33,213 13,642 2:i;067 ,Applied to oar trusts . . . . .•...•. 147,565 119,592 1888, held securities of par value of $5,018,400, and casb, $20,515. The general mortgage of April 20, 1871, is for $20,000,000 (rrnstee Total ..•.....•••..... $173 ,3 " 6 $190,270 $360,827 $328,428 Fidelity Ins. Tr. &o., Co. of Philadelphia), and secures all the bonds in · Balance ...•..••...•. Def.lf.!8,640 Sur.$98,534 • • • . . • •• Bur. 16,594 the table though issued at different dates. 'Union Pacific Rallway,-(See Map.)-LINES OF RO.AD.-Main " Including other income. line~Counoil Bl:iffs to Ogden and branches, 1,o~u miles; other -(V. 4.5, p. 240,341,572; V. 47, p. 284,327,531,626; V. 49, p. 372) branches-Kansas City to Denver, 643 ; Denver to Cheyenne, 106 • Toledo & Ohio Central Extenslon,-(See Map )-This oompa- Lea,venworth to Lawrence, 34; total owned, 1,824 miles ; cantrolled paliy sec·ured. ooutro! of Marietta Columbus &: .!Sorthern, Mal'i- a.nd operated 1n the Union Paoflo system Dec. 31, 1888-0maha & dta. to Joy, Ohio, 41 miles I branch to Stewart, 4 miles. Extension rn Ropub.Valley RR., 470 m.; Colorado Central RR., 328; Echo &Park City progref's 1"rom Joy to a connection with the Toledo & Ohio Central at RR., 30; Utah & Northern RR., 409; Junction City & Ft. Kearney, 88; Newton, 15 mlles. Total mileage 60 miles. Consolidated m C\rt- Solomon RR., 57; Salina & Southw'n, 35; Kan. Cen., 166; Den. & Boulder 11,'age iosued for above extension and for equipment, and $650,000 held Valley, 27; Oregon Short Llne and branch, 612; Greeley Salt Lake & in ese-row to pay off the M. C. & N. ht mort~age at maturity. Trustee Pacific, 63; Denver Soath Park & Paorll.o, 325; Salt Lake & Western, 58 . of mortgage .American Loan & Trust Co., N. Y. Stock is $ 1,500 000· Georgetown Breckenridge & Lead ville, 8 miles; Denver & Middle Park par $ 100. Froru Jan. 1 to Nov. 30 (11 mos.),gross earnings in 1889were 5 miles; Denver Marshall & Boulder, 30 miles; Laramie No. Park & Pao. .. ~106,900, 'lgalnst $'i9,645: net $52,796, against $34,533. In •~8 Ggross 13 miles; Cheyenne & Northern, 125 mile~; Un. Pao. Lin. & Col. RR . . earnlng11 of Mar. Col. & Nor. $88,269; net, $14,721; surplus ov r 225 miles; total thus controlled, 3,074 miles. Total operated in the U. P~ system Jan. 1, 1889, 4,898 miles. !-charges, $10,921. The lines of the Oregon Ry. & Nav. Co. (752 miles) and or the St. Toledo Peoria & We•tern.-Road owned from Indiana State Joseph & Grand Island (447 miles>, tnough leased respec tively by the , line to Warsaw, Ill., 220 ruiles; branch, La Harpe to Iowa, Ill., 10 miles· Oregon Short Line and the Union Paoitio, are not included 1n above 1tracks leased to P t oria and to Burlington, Ia., 17 miles; total operated' mileage, each having an independent wana~ement. [n 1889, pursuant f 247 mlies. This was formerly the Tol. Peoria & Warsaw, then the Toi~ to the negotiations with N. Pacific and O. T. parties, the Oregon Short P. & Western, and was leased to Wabash; sold 1n foreclosure Oct. 29 Line purchases a maJQrity or tbe Oregon R. & Nav. stock. • 1886. Stock ls $4,076,900; par of shares $100. Abstract of mortgage The Central Branch Union Pacific and leased lines (388 miles) are •(Charles Moran, Thomas Denny and Cornelius B. Gold, trusteea) v. 45, operated by the Missouri Pacific under an agreement with Union Pao1fl.o • 242. The company funded part of coupons in 1888 in 4 per cent fer twenty-five years from 1885 and not included 1n the mileage oper cl'ip oert1fl.oates due April 1, 1893, but redeemable at option of the ated by Union Pacific. The U. P. also has large Interests in the Utah •,(l()mpany. Central, 280 m.; Leavenworth Topeka & 8. W., 47 m.; Manhattan Alma From Jtlly 1 to Dec. 31 (6 mos.) in '89 gross earnings: were $491,626, & Burlingame, 56 m. and Nevada Central, 93 m.; Montana Union, 72 .~alnst $476,600; net, $11~,000, agAinst $10b,110. In year ending June m.; Montana, 15 m.; Utah & Nevada, 37 miles; South Park & Leadville ;~'30, 1889, g1oss earn1np;s were $903,937; net. $173,743; de.f. under in• Short Line, 8 m .; Idaho Central, 19 miles; Lawrence & Emporia, 31 m.; ereet, etc., $16,884. (V. 46, p. 639, 669,771,772; v. 4.7, p. 42, f27· Ogden & Syracuse, 6 m. Total of all lines which are operated separately ·,1 . 49, p. 503.) ' 2,251 miles. Grand total of all lines, 7,l49 miles. · ~~oledo Loni■ & K.an•a• CUy.-(Bee.Jlap.)-From Toledo to In 1886 a lease of the Oregon Railway & Navigation RR. to the Ora. Mt St. Low,s, 451 miles. InJ'une, '89, the road wasmadeetandard gauge gon Short Line, guar. by Un. Pao. was negotiated.-(See V. 48, p. 261 \ f.Qm Toledo the wlo~e distance to East Bt. Louis. This company waa ORGJ..:NIZATION, &c.-This company, the Union Pacific Railway, WU j~l'med June 12, '86, by consolidation, and it took all the main line or the formed by a consolidation, Jan. 24, 1880, of t"ke Union Pacific RR. an.4 '. 1... oledo Cincinnati & St.Louis narrow gauge road.foreclosed Dec. 30,'85. the Kansas Pao. and Denver Pao., made under authority of the acts of The common atook ta $12,250,000. The preferred 4 per cent stock Congrt1ss of July 1, 1862 and July 2, 1864. The Union Pao. RR. wa• • ,of $4,805,000 ls a coupon stock, non•oumulative, and without voting chartered by Act of C..1ngress of July 1, 1862, which gave the company a l power; the bonds J¥Y be paid off at 105 on notice. Provision has been land grant of 12r800 acres per mile, estimated at a total of 12,083,227 made for interest till 1889, or longer should construction not be finished acres, and· a subsidy in U. 8.bonds o.r $27,236,512 on 1,033 miles of road . R!):d earnings be insuJfioient. All the securities are yet held in trust exThe Kansas Pacif!<.l -was organized as "Leavenworth Pawnee & West ' ct:pt $4,805,000 pref. stock and $4,000,000 common stock and such ern" in 1861; then changed to "Union Pacific, Eastern Division," June _pooportion of the · bonds as ha~ e not yet beea used in connection with ti 1863 and to "KansJU! Pacific" on March 3 1869. The Pa-0ifio Rall,. 1886. E.oad operated Dec. 31. •••••. •••••• 178 Gross earnings .....•• . .••...••..••. $380,251 :()_perating ex_pensts and taxes •••• 222,094 --- 1887. 184 $535,752 342,606 --- s,. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE .TOLEDO, ST. LOUIS KANSAS CITY AND RAILROAD AND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 140 Th-VESTORS' SUPPLEMENT. ~VOL. L. Subt1crlbers -will conCer a great favor by giving Immediate notice ol any error dl~covered In these TablNe Bonds-Prino1 INTEREST OR DIVIDENDS. DESCRIPTION. pal, When Due. Miles Date Size, or A.mount Rate per When Where P~ble and by Stocks-La.at Par Outstanding of l'or explanation of column headings, &o., see notes of Oil'.• Cent. Payable Dividend. • on fl.rat page of tables. Road. Bonds. Value. -- - --- - - - $60,868,500 - -llla,- -Q.-J. N. Y., Un. Trust, & Bost. Union Pacific-Stock ................................. 4,898 $100 1st m., 30-year bonds, gold, on road and equipm't. 1,038 1866-9 1,000 24 m., currency (Government subsidy) ........... . 1,038 1866-9 1,000 1,000 3d m. on road (2d on land) g., $&£ a. f.not dr'n.c&r 1,038 1874 Omaha bridge bonds"(a. f., drawn at 110, ..•. c·&r .... 1871 £200 1,000 do do renewal (s.f. not dra.wn) ..•...•.. c 1835 1,000 Collateral Trust bonds, fold, a. f. drawn at 105.c" 1879 1,000 Collateral trust oonda o 1883, gold, s. f. not dr'n 1883 1,000 Collat.'fr. b'dsonDen. L'dv.&Gun. ($3,2b0,000)c* 32·5 1889 1,000 Equip. bd~.• Ser. A&B,-110 paid yearly, not dr'n .c* 1887 1,000 K.an.P.,cona.M.for $30,000,000,l.fi.,g.,not d.r'n.c,. 673 1879 1,000 do lat M., ~astern Div.. 16,000 p. m ..•. 140 1865 1,000 lat M., Middle Div.,$16,000 p.m., g ... 253 1866 do 2d M.(to U.S.Gov.) on 394m.W. Mo.R. 394 1865-7 do 1:000 do latM.,Denver Ex·,{j·•2,568,586 acs.c*&r 245 1869 50&o. do Income bda, 3 .on 427 miles, coup. 427 1866 .... . 100 Un.ion PaciftcDenv. cl Gul/-Stookfor $36,000,000. U. Pac. Lin. cl Ool.-1 st m., g., gu. ($20,000 p. m.)o* 220 1888 1,000 100 UHM Ohen.dSusq. Val.-8t'k,6p.c.gu.oyD.L.& W. 97 l1tiea Olintoncl B"ingh•to~lat M., g. by D., & H .. c 1,000 31 i889 Talley (N. Y.J-Stock, 5 p. c. guar. by D. L. & W ... 12 lat mort~age (for $500.000) ..•....•..••....•••.••. 12 YaUey (OhwJ-lst mo~age, Clev. to Canton ..•. c* 59 1879 106;&c. 1,000 Consol. mort. g., (for ,000,000)s.f. not drn.o~& r 91 1881 1,000 'Valley (Va.J-lat mort~age ......................... c 62 1881 100 Vermont d Mass.-Btoc , 6 p. ct. guar. by Fitchb ... 59 1,000 Bonds not mort. (guar. by Fitchburg RR.) ..•••. c* 50 Yermont Valley of 1871-Stock ..•...•........•..••. ·50 1,000 1st M., with $500,000 Su1 • Co. RR. stock as col..c* 24 1,000 Vieksb. Shrevep. cl Pac.-Prior li~n mort., gold •.. o* 189 1885 1,000 1st mortgage, ~Id.. . • • . . • • . . • • . . • • . . . . . . . . . . • . . c* 189 1881 1,000 3d M., and lat . on land, g., for $2,500,000 ... c* 189 1886 .... Inc. bda.. non-cum. ,there are also $127,000 old 6a) ..... 1887 .... ---· is8i .... isss isso road acts of 1862 and 1864 applied to this road, and gave it a aubaidJ of $6,303,000 and a land grant of about 6,000,000 acres. The Denver Pacific-Denver to Cheyenne, 106 miles-was built unde1 the charter of the Union Pacific, E. D. (Kansas Pacific). Aa to the debt of the Pacific railroads to the United States Government a decision of the U. 8. Supreme Court settled the point that tht payment of interest on the loans was not obligatory on the companieE till the principal of. the bonds became due. Afterwards Congress passed the Thurman Act, May 7, 1878, which, for the Union Pacific, provided that 25- per cent of the net earnings, after deductmg interest on the first mortgage bonds and construction and equipment expenditures, should be paid annually to the Government as follows : FirstApplied directly to interest account, one-half of Government earnings and 5 per cent of net earnings, after deducting interest on ftrat mortgage bonds. Second-To be placed in the sinking fund·the other half of the Government earnings and so much of $850,000 aE may be necessary to make all 'the payments by the company equal 2l> per cent of its net earnings. On Dec. 31, 1888, this alnk. fund invested ln U. S. bonds (par value) was $6,997,650, and the premium paid on bonds and cash uninvested was $1,813,tH8; total, $8,811,268. The debt to the U.S. at that date was thus stated: Principal, $27,236,512: inter• est accrued and not pa.id, $817,095; int. paiJ by U. S., $-;3.128,804; repaid by U. P., $12,286,399; balance of int. paid by U.S., $ :L 0,842,023. STOCK AND BONDS.-The capital stock issued and outstanding 111 '60,868,500, having been increased about $10,000,000 since the consolidation in 1880. Dividends after 1879 were as follows: in 1880, 6 per cent; in 1881, 6lla,; in 1882z 7; in 1883, 7; in 1884, 3¼; none since. The yearly range in prices or the stock has been-In 1880, 80@11321&; In 1881, 105¼@13llla,; in 1882, 9814@119¾; in 1883, 701s@l04¾: 1n 1884,28@84"8: in 1885,41@62¾: in 1886, 4414~6814; in 1887, 44~63¾: In '88, 48@66¼; in '89, 56¼1i>7114; in '90 to Jan. 17 incl., 653s~68¾. ; There are $18,000 Leavenw'th branch 7 per cent bonds.due Jan., '96, and $8,000 Den. Pac. bonds. : The Union Pacific collateral trust sixes, fl.rat issue la limited to 80 ,per cent of the following bonds: Omaha & Republican Valley RR, -$984,000; C0lorado Central Railroad bonds, $1,998,000; UtahNorth• ·ern Railroad, $2,265,000; total, $5,247,000. The collateral trua1 :tl.'ves of 1883 are secured by the following bonds: Colorado Central RR. $1,329,000; Utah & Northern RR. $2,125,000; Omaha & Rep. Valle3 RR. $652,000; Omaha & Repub. Valley llailway, $2,056,000; Utah ·s outhern RR. extension $89;000; total, $6,251,000. ,Thecolla.t. trust bonds of 1889 on Denver Leadville & Gunnison RR. :(formerly Den. 8. Pk. & Paoi:flo), are secured by mort. bonds on that narrow . guage .road at $11,000 per mile, $22,200 per mile being ·authori,;<: d for extensions. There is a sinking fund, buti bonds oannot be called. Company's stock is owned by U. P. Of the Kan. Pao. morta. that on the East. Div. covers the first 140 m. west of the Mo. River, that on the Middle Div. tbe 253 m. following and that on the Denv. Exten. the 254 m. next beyond. (394th to 639th m.) the Denv. Ex ten. mortgage baa a sinking fund of $255,000 yearly. . The Kan. Pac. consol. mort. cover,:1 the road from Kansas City to Den•· ver, and branch, 673 miles, -subject to the <livislonal bonds (to retire which sufficient bonds are held) and the U. S. lien. The outstanding bonds of Kansas Pacitic above are given leas tht amounts of each. class held by the trustees of the conaol. mort. The conol. mortg. trustees are Jay Gould and Russell Sage, and they held 1:r, trust on Jan. 1, 1889, the following bonds or the KanaasPacitl.c, ma.kin~ $6,715,150 in all, viz.: Leavenwort h Branch, $582,000 income (unaub• .o:rdinated)bonds. $217,750; income (subordinated) bonds, $3J948,400; Cheyenne Br&noh Den. Pao. bonds, $1,967,000. They also hela $1,997,· · 500 of the stocks and $3,160,000 of the bonds of oth6r oompaniee controlled by the Union Pacific. LAND GRANT.-The proceeds of land sales on the Union Paoiflo ma1IJ line are .applicable to the sinkingfundmortg. 8 p. o. bonds. On the Kan. Paclflo the cash income from land is applied to the conaol. mortgage. On Dec. 31. '88, the company had in cash from the Un. Pacific grant the sum of $51582,890 (leas $624,000), and in land contracts (with accrued intereali), $6,852,421; which auma are applicable to the payment of the 8 percent amking fund bonds due in 1893. On Jan 1, 1889, the U. Pao. lands unsold were 3,054,000 acres, estimated at $2,328,000; the K. P. la\n,da unsold, 3,243,800 acres, estimated at $10,381,100. . The sales in 1886, 1,887 and 1888 were as follows: 1• ·u nion Pacific1886. 1887. 1888 . Acres sold (net)....... ••••.••..• 146,189 51,352 17,225 Amount......................... $178,326 $74,123 $29,784 Average price on gross aalea... $1 22 $1 44 $3 91 • . Kan. PaciflcAcrea sold (net>................. 225,623 511,702 121,596 Amount........ . ••. . . • . . . • .• • • .• $1,049,122 $2,514,643 $658,802 Av.price(diacountadeducted).. $4 68 $4 93 $5 59 Totalaorea sold................. 371,819 562,522 138,821 Amount....... . ................. $1.228,225 $2,588,766 $62i1,0f8 TheKansaa Pacific lands, from the 380thmileweatward, a.re oovel'tl(l .first by the Denver Extension mort. (covering 394th to 639th mile), and all the lands of the Kan. Pac. i.,y the conaol. mortgage. . OPERATIONS, FINANCES, &c.-The company has extended rapidly and built and acquired much new mileage, of which the Utah Northern and Oregon Short Line are two of the moat import"nt branches. ' On-Union Pacific propt:r, 5,159 mile s, rrom Jan. 1 to NoT. 30, 1889 ~>, gross earnings ~e~i 5~3I~~83,847, on f,i20 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $:/sl~~gf!stJf<f.7l 27,229,000 27,236,512 14,215,000 1,167,000 454,000 4,088,000 5,191,000 2,058,000 2,467,000 12,931,000 2,240,000 4,063,000 6,303,000 6,020,000 10],200 4;508,000 4,000,000 800,000 750,000 400,000 1,600,000 1,499,000 750,000 3,193,000 1,000,000 1,000,000 800,000 1,323,000 4,000,000 2,210,928 494,860 April 1, 1884. 1896 to 1899 1896 to 1899 Sept. 1, 1893 April 1, 1886 Oct. l, 191~ July 1, 1908 5 Dec. 1, 1907 4¼ Nov.1,1918 1-10 y'ly A&O 5 6 May 1, 1919 6 Aug. 1, 1895 6 June 1, 1896 6 1895 to'97 6 g. i:tt:."&N. N. Y., Lond. & Frankf't. May 1, 1899 M.& S. N. Y., Bk. of Commerce July 1, 1916 7 ··5·g. A.·&·o. N. Y. Union Tr. & Boston Apr:·i;·1918 M.&N. N. Y., D. L. & W. RR. 3 May 1, 1889 J. & J. N. Y ., Security T.r. Co. 5 July 1, 1939 N. Y., D. L. &W. 219 J. & J. July, 1889 F. &A. do do Aug. 1, 1911 5 J. & D. N.Y., Drex., Mor. & Co. June 15,1906 7 do do 6 g. M. & 8. Sept. 1, 1921 A. & O. Balt. and New York. 6 Oct. 1, 1921 A. & O. Boat., 53 Devonshire St. Oct. 8, 1889 3 M. & N. Boston, Fitchbur~ RR. May 1, 1903 5 J. & J. Bellows Falla. 3 Jan. 1, 1880 A. & O. Bost., SafeDep. &Tr.Co Oct. 1, 1910 5 6 g. M. & N. N. Y., Central Trust Co. Nov. 1, 1915 6 g. J. & J. N.Y., Farmers'L.&T.Co. Jan. 1, 1920 3-4-,f g. J. & J. N. Y., Central Trust Co Jan. 1, 1916 ...... Jan. 1, 1920 ... -.. - --.. 6 6 8 8 5 6 g. J. & J. J. & J. M.& S. g. A. & O. g. A. & O. g. J. & J. g. J. & D. g. M.&N. A. & O. g. M.&N. g. F. &A. g. J. & D. do do U.S. Treas., atmaooity. N. Y, Un. Trust, & Boat. London & N. Y., Un. Tr. N. Y., Uuion Trust Co. do do Boston, N. Engl'd Tr.Co. N.Y., Un. Trust, & Boat. do do do do do do New York, Un • .rr. Co. - ~ On entire system (6,967 miles) from .Tan. 1 to Nov. 30 (l l months) gross earnings were $36, 15? ,539 in 1889, against f35,805,048 on 6,710 miles in 188e ; net $13,728,953, against $13,397,983. The annual report for 1888 was in the CHRONICLE, V. 48, p. 554,557, md the following :figures were given for the whole sytem operated: OPERATIONS .AND FISCAL RESULTS. 1886. 1887. 1898. 4,594 4,764 Miles operated Dec. 31. ..•.. 4,898 Operatwns- Passengers carried (No.).... 2,518,034 3,358,234 3,562,547 Passengers carried one mile. 247,341,275 262,913,074 278,381.266 Av'ge rate per pass. perm.. 2·45 cts. 2·509 eta. 2·416 cts. Tona freightca.rried......... 4,25~,24.0 4,772,645 4,891,654 *Tona freight carried one m. l,105,978,l 7l:l 1,350,525,946 1,553,243,748 Av'ge r ate per ton per mile. 1·46 eta. 1·422 eta. 1·281 eta. ~ including company's freight. 1886. 1887. 1888. Earnings from- $ $ $ Paaaeogera.... .••• . ...... ••• Freight................ . • •. •• Mail, express, &o.. •. ..•.. .•. 6,096,237 18,588,744 1,918,815 6,595,779 19,956,467 2,C05,519 6,726,085 2(•,521,987 2,012,751 Total earnings........... Operating expenses & taxes 26,603,796 17,608,619 28,557,i66 17,667,732 29,260,824 19,165,366 Net earnings........... 8,995,177 10,890,034 P. ct. of expenses to earn' gs. 66·19 61 ·87 INCOME ACCOUNT. 1886. . 1887. 10,095,458 65·50 1888. $ . $ Receipts$ S et earnings ..•...•......••..••..••• 8,995,179 10,890,034 10,095,458 890,020 Cncome from in vestments •.•••.••... 13,015 Miscellaneous land sales ..•....•.... 670,341 Investments, premiums, &o•..•...•• From trnateea Kan. P. con. mort .• . 1,113,600 101,927 Miscellaneous .•••.•••.•••.•••.•••••• 1,030,552 15,904 916,215 13,532 21:ff6 Total Income .•••.•••.••••••••••• 11,784,082 11,972,231 11,052,981 . $ EX1>enditures$ $ Interest on bonds ..•...•..••..••••••• 5,197,731 5,134,566 5,057,714 Dtacount and interest............... 67,224 160,153 148,902 Loaaea on in,est., prem., &c... ••. ••• .• .,. . •• • 113,490 106,964 59 1 9 6 5 Stnkin#! fund, company's bonds•.••• 587,670 588,5a5 Sinking funds, otl.ter companies ..•• 24,846 24,846 Int-ereat- auxiliary lines...... . • • . . . 1,298:399 1,331,372 1,362,601 Land taxes. &c., Union Div......... 62,640 53,653 70,408 , Lnas on le, aed lines ..•. : ........... 11,7~2 324,480 841,749 Miscellaneous ..•......•..•••.•••.••• 85,972 123,432 Total exvenditure .••..•••.•••.•. 7,229,681 Surplus income of ~he year ...•..••. 4,554,401 Deduct U. B. reqmrements.. •. • .• •• 808,033 7,821,204 4,151,026 .1 ,205,656 8,325,201 2,727,780 1,134,394 ---- Total surplus income ..• -. •...••• 3,746,368 2,945,370 1,593,386 GENERAL BALANCE .A.T CLOSE OF EACH YEAR, 1$86. 1887. 1888. Assets$ $ $ Road, equipment, &c .....•...•. 161,283,688 162,522,403 164,997,724 Stocks and bonds owned, coat .. 35,529,187 42,241,161 40,622,739 Miscellaneous investments..... 755,750 751,098 764,311 Advances........ ..•..••..••.... 5,697,670 4,570,428 2,981,431 Materials, fuel, &o.............. 2,889,218 1,632,105 1,114,003 Cash and cash resources..... . . 1,351,190 401,689 5,063,730 Sinking fund balances.......... 707,487 883,328 2,064-,032 Honda and stocks in K. P. trust. 3,217,250 3,217,250 3,217,250 Ilonda held by Un. Trust Co .••• 1,196,619 Land department ~.saeta ..••••.• 18,599,519 19,742,124 18,726,050 Total.. ••.•••.••..••..•••.••• 230,030,959 235,961,586 240,747,889 La'>i,lities- Stock .. , ...•..•••.••...•••.••••. 60,868,500 60,868,500 60,868,500 Funded debt............ . . • . . • • • 81,969,127 80,180,655 80,459,655 United States subsidy: bonds ... 33,5:rn,512 33,539;512 33,539,512 A.ocrued int. on subsidy bonds. 15,670,753 16,363,744 16,866,390 Interest ace.rued not due....... 758,493 727,469 731,887 General income (profit and loss) *13,827,4i?6 ' *16,826,177 *18,757,462 lncome used for sinking fund.. 3,568,599 4,156,269 4 1744,854 Land and trust income .••...•.. 19,828,519 23,299,260 . 24,779,629 Total liabilities ..••.••..••.. 230,030,!}59 235,901,586 24v, 747,889 * After deducting deficit of U. S. requirements, as compared with accrued interest on U. S. bonds Feb. 1, 1880, to date. -(V. 47, u. 50,140, ':198, 500; V. 48, p. 99, 209, 261, 327,420,527, 542,554,556,557,590,764; V. 49, p. 236,270, 402, 525, 539, 690, 718, 789, 826, 857; v. 50, p. 107.) Union Pacific Denver &: GulC.-(See .Map )-Thia is to be a. consolida tion of t h e Denver Texas & Fort Worth and several Union Pacific lin es, includlng the Colorado Central and 'Cheyenne & Northern. '.rhe road w ill b e : From Wendover, WyQ_m ing T erritory, via. Den• ver, to Pueblo, Col., 362 miles; Trinidad, Col., to Texas Bta,te line, Tex., 136 m.; La Salle, Col., to Julesburg, 161 m., branches (pa.rt narrow ·-·-· ----- -- ----·· ,,,.,.._.4 ··:A- <:<.~ J•·t -M AP 'OF THE UNION PACIFIC RAILWAY 00. ~ 0 0 I ~ 00. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK I IRO sfJ;; iLe . i I Se~er ':Bristol o n t ,, ~ Indepe;~ce o'.Be1ted Mt. Spr. 11 en · <) Ow~~e 'SI .. • Xeeler ~ ')\, eT / • j FRI~ 0 e ,,. 'f . ,) Rtcoo - . Bilvei:ton ~ o Wheel n Gap Clar . . MAP OF THE THE UNION PACIFIC, D.E NVER & GU°LF UN.l~J ~.P~4~e-lFIC., DENVER GU,LF R-AILROAD CO. SOUTHERN CONNECTION . "', TO FORT WORTH A"ND Reduced Scale. AND ITS CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ......... C M E JANUARY, 1890.] RAILROAD STOCKS AND BONDS. Sub•erlber• will conCer a great fa.vor by =tvlng Immediate notice oC any error dl•covered In the11e Table11. Bond.8--.Prinol DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or pal,WbenD!•e Amount £or elqlanation of column headings, &c., see notes ot of Par Outstanding Rate per When Where Payable, and by · Stocka-Last on first page of tables. Road. Bonds Value. Cent. payable Whom. Dividend. --- --- Va. .Midt'd-St'ck($3,577,333 ownedbyR.&W.P.T.) 362 Mort.,lstser., let M.Alex. toGordonsv.&br.,~7m. 97 du 2d series, (lstM. Charlot. toLynch.,60m., 157 do 3d series, 2d lien on eo m.; 3d on 97 m .. 157 do 4th series, 3 per cent till March 1, 1891 ... 157 do 5th series, 1st on 115 miles .••.••••.••..••. 272 do 6th series .............. : .................... 75 Gen'lmort., int. guar. by R. & D ., $12,500,000.c' 347 do prin. and int. guar. (endorsed) ....•• . 347 Charlottev.&. Rapid,(l'sed)lstM.,s.f.dr'n at 100.c* 28 Yirtnia fl Truckee-Stock ........................... "Va ash RR.-Common stock ........................ .... Pref. stock (7d non-cumulative) ................... 1st mort., gol , sink. fund, not dr.($34,000,000) .c 1,638 2d mort., gold ($14,000,000) ..................... c 1,105 Deb. mort., ino., non•oum., Ser. A & B, r ed. at par 1,638 tit. L. K. C. & No., 1st mort. (North Missouri) ...••. 353 do real estate&. railway 2d mort .••. 388 do 1st l\l.onSt. Char. Bridge,coup.orrg ..••. .... do 2d M. do do ..... ~t. Lou.is Council Blu1fs &. Omaha-lat M .••....•. 42 .Boone Co. & Booneville 1st mort., int. guar .....•. 22 Brunswick& Chlllicotbe 1st mort., int. guar ..... 38 Ware Ri-ver-Stock, 7% rental i!Uar.999 yrs.B.&Alb. 49 Warren (N.J.)-Stock, 7 % perp. guar. D. L. & W ... 18 2d mortgage, now 1st.............................. 18 1st consol. mort~e .........••..••...•..........•. 18 'Wash.OityclPt.Loo ut-lstM.bondsg.4lex. Bud'. 12 'West Jersey-Stock, $122,250 :s 6 p. c. "spE.\cial" ... 219 lstM.,cum. sink. id. $12,500 yearly, not drn .... c~ 38 1st consolidated mort ....•••..•..••..•••...•.•... c~ 63 Consolidated mortgage .••••••.•••.•••..••....•••.. r 128 ·--· 0 $100 $!,940,363 100 &c. 600,000 1881 100 &c. 1,900,000 1881 lOO&c. 1,100,000 1881 100 &c. 950,000 1,771l,OOO 1881 100 &c. 1881 1,000 1,310,000 1886 1,000 2,436,000 1,000 1886 2,418,000 439,200 1879 lOO&c 5,000,000 ·ioo 28,000,000 .... 100 24,000,000 1,000 22,581,000 1,000 14,000,000 1889 1,000 30,C00,000 1889 1,000 6,000,000 1865 1,000 3,000,000 1874 1,000,000 1.000 1878 100 38~,">00 is72 .... 626,000 100,000 1873 304,500 1878 750,000 50 1,800,000 1855 100 750,000 1870 600,000 1875 540,000 187:i 1:000 60 2,13t,850 is66 500&.c. 1,000,000 1,000,000 1869 500 &c. 1879 500 &o. 749,000 issi .... isso ---· ioo ,gauge), 242 miles; total, about 891 miles; trackage, Den.•~ Rio Gr., Pueblo w Trmidad, 91 miles, and branches, 15 miles; .M. K. & T. into Fort Worth, 4 miles; total about 1,001 miles. Controls also a ma jority of the stock of the Forth Worth & Denver City Ra ilroad, 450 -mile@, and Pan-handle RR., 16 miles, making grand total in system ot ahout 1,467 miles. Holders of Den. Tex. & Fort Worth stock will exchange, it is said, 1or new stock at par, and holders of bonds of the Fort Worth system will be offered an exchange for new 5 per cent bonds at $25,000 per mile. (V. 49, p. 720.) Union PacUic Lincoln &: Colorado.-This is a branoh of the Kan. Pac. R,r., running westerly from Salina to a junction with the Kan. Pac. at Oakley, Kan., 220 miles. The bonds are guar. by Un. Pac., by en• -dorsement; trustee ot mortg. is the Am. Loan & Tr. Co. of Boston ; sink. fund of 23 of 1 per oent yearly, but bonds cannot be drawn. U. P. owns .all the stock except what 1s held by certain counties in Kansas. (V. 47, :p. 490, 803.) Utica Chenango&: Susquehanna Valley.-Owns from Utioa, .N. Y., to Greene, N. Y., 75 miles; branch to Richfield Sprin~s. 22 miles: total, 97 miles. Road opened October, 1872. Leased to Del. Lack. & Western at 6 per cent on stock. Has no bonded debt. Utica Clinton &: Dlnghainton.-Owns from Utica, N.Y., to Randallville, N. Y., 31 miles. Leased during continuance ot charti>r and ~enewals thereof tAJ the Del. & Hud. Canal Co., which pays rental of $70,500 per annum Operated by the N. Y. Ontario & Western. The street lines owned by the company are leased to Utica Belt Line Street RR Co. for $15,000 per annum. Gross earninj!'B o:I' this road, and Rome & Clinton, 13 miles (reported together by N. Y. Ont. & West.), in 1888-89. were $236,559; net, $73,768; loss to!].eesee, $1,232. In 1887-88 gross :$218,863; ntt. $68,4.94; loss to N. Y. Ont. & W., $3,657. Capital stock, $849,285, (par $100), of which city o:I' Utica holds $200,000, with interest p:uarante·ed 5 per cent, James I. Scollard, Pres., Clinton, N. Y. -cv. 47, p. 188.) Valley (N. Y.) Kallroad.-Owns from Binghamton, N. Y., to StatE line of Pennsylvania. 12 miles. Opened October, 1871. Leased to Delaware Lackawanna & Western at 8 per cent per annum on stook, ($750,000; par, $100), which was reducect. n 1882 to 5 per cent, the essee assuming the interest on bonds. Samuel Sloan, Prest.. N. Y. City, Valley (Ohlo).-Owns from Cleveland, 0., to Valley Junction, o.'75 miles, and 16 miles of small branches. Ot the consol. mortgage $1,600,000 is held in trust to retire the first mortgage when due. Tliis mortgap;e ia a first lien on the Cleveland terminal property. A sinking lund sufflcic nt to retire whole issue at maturity begins September 1, 1891, no drawings. Capital, $1,261,973, par $50. Control acquired in 1889, by the Baltimore & Ohlo RR. eo. Earnings in 1888, $678,~99; net, $[06,772; surplus over all interest, $31,674. In 1887, gross, $671,395; net, $300,175; surplus over all int., $47,727.-(V. 48, p. -609, 763 ; v. 49, p. 342; v. 50, p. 70.) Valley (Va.)-Owns from Harrisonburg to Lenngton, Va.• 62 milee By this and connecting lines under B. & O. control, the distance from Le:xington is 243 miles to Baltimore and 217 miles to Washington. Tht Baltimore & Ohio owns $424,000 bonds and $1,020,000 of the stock . outstanding, $2,731,839; (par $100). In year ending Sept. 30, 1887, gross earnings were $122,272; net, $43,369; 1887-88, grubs receipts, $112,282; net, $22,2t:i6. (V. 43, p. 608; V. 45, p. 673.) Vermont &: 1'.lassachusetts.-Line of road, Fitchburg to Green11.eld, Mass., 56 miles: branch, 3 miles. The road is leased to the Fitch• burg RR. for 999 years at 6 p. c. on stock. The lessee to Sept. 30, 18 98, had invested $1,4ti5,2121n improvements for this road. (V. 43,p. 636.) Vermont Valley oC 1871.-0wns from Bellows Falls to Brattleboro, Vt., 24 miles, and by ownership of stock the Sullivan County RR. from Bellows Falls to Windsor, Vt., 26 miles; total, 50 miles. Con• trolled in the interest of the Connecticut River RR. The Bull, an County RR. stock, $500,000, is deposited as additional security for tll.e abo,e mort. bonds. Gross earnings, &c., for whole line in year endinp: --6ept. 30, 1887. were $406,349; net $126,370. .In 1887-88 gross $412,198; net $117,371; surplus <-ver interest and 6 per cent. 11ividend, $407. Dividends since 1880 ha,e been: In 1881, 412; in 1882, 4; in 1883 and since at rate ot 6 per cent yearly. ■ ·v1ck11b-urg Shreveport & PacUic.-(See Map Oincinnati New ', vrleans d Texas Paci:,tc.) From Delta, L~ on Mississippi River, to [ .Shreveport, 170 miles, and extension to Texas State Line.19 miles ~_1,the latter leased to Tex. & Pac.); total, 188 miles. The oldVicksburg / )Shreveport & Pacific r_o ad was sold in foreclosure Dec. 1, 1879, and , reorganized under present title. The stock is $1,601,500, of which · the Alabama Sew Ol'leans & Texas Pacific Junction Railroad Com• · pany holds a majority, and also $3,692,000 of the 1st mortg. and . ~965,500 3d mortgage bonds. Till 1891 the 3d mortgage bonds ican-y 3 per cent, then 4 per cent till 1891, and thereafter 5 JPer cent. Net proceeds of land sales go to payment of interest ,on these 1onds if necessary, otherwise to sinking fund; no bonds , mawn (see V. 43, p. 104). Lands unsold June 30, 1889, were 275, l4.9 acres. Trustees of prior lien mort. and of 3d mort., Central Trust Co.; cf first mort., Farmers' Loan & Trust Co. From July 1 to Nov.30.1889 (5 mofl.), gross earnings were $286,929, ~ s t $267,281 in 1888; net, $88,00U, against $81,000. ·-.n1e annual report for 1888-9 was in V. 49, p. 2~9. In year ending .June 30, 1889, ~oss receipts were $592,603; net. $131,13"; deficit under interest, $267.003; in 1887-88, gros1>. $604,256; ner-, $U5,931; defioitunderinterest, $177,683. (V.47, p. 284; V, -19, p. 299,) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ..6. 6 6 3-4-5 5 5 5 5 6 (1) .... M_-&·s. N, Y.,Rich. & D., 2 Wall. M.& 8. do do M.& 8. do -do M.& 8. do do M.& 8. do do M.& 8. do do M.&N. N.Y., Central Trust Co. M.&N. do do J. & J. Phil. Tr. & Safe Dep. .... .... I ··5·g. M:&N. .......... .··-·· ·--- New York Cent. Tr. Co. do d~ J. &. J. N. Y., Company's Office J. & J. N. Y., Bk. of Commerce. M.& S. do do do 6 g. A.. & o. do do A.. & o. do 7 J. & J. do 6 do rt-I. & N. do do 7 6to 8 F. &A. Roston Bank Redemp. 319 J. & J. t3ostou, Bost.& Alb. RR. 319 A.. & o. N.Y., Del., L. & W. RR. A.. & o. do do 7 do do M. & 8 . 7 6g. J. & D . Baltimore,Balt.& O.RR. 312 M. & s. Phlla., Offlce,233 So.4th do do J. & J 6 do do A.. & 0 7 M.&N do do 6 '5 g. F.& A.• 6 7 7 Mar:· r,. i906 0 Mar. Mar. Mar. Mar. Mar. May May July 1, 1, 1, 1, 1, 1, J, 1. (1) 1911 1916 19~1 1926 1931 1936 1936 191 3 ---- .... May°i;i939 Fell.1,1939 July 1, 1939 July 1, 1895 Sept. 1, 1895 0 '3t. 1, 1908 Oct. 1, 1903 Sept. 14, 190 2 May 1. 1903 A.ug. 1, 1903 Jan. 3,189 0 Oct,., 1889 Oct. 15, 1900 Marohl, 1906 June 1 1913 Sept. 16, 18~9 Jan., 1896 Oct.• 1899 Nov.1,1909 Virginia 1'.lldland.-(See Map of Richmona fl W. P. Term.)-LINB ROAD. - From Alexandria to Gordonsville, 88 miles; Warrenton Branch, 9 miles; Charlottesville to Lynohburg, 60 miles; Lynchburg to Danville, 66 miles; Pittsville Branch, 9 mUes; Manassas Junction to Harrisonburg, 114 miles (of which 49 miles leased to Baltimore & Ohio); small branches, 8 miles; total owned, 347 miles. Leases: O.lsarlotte,aville & Rapidan RR.. Orange C. H. to Charlottesville, 28 miles . Frank. & Pitts. RR. (3 ft.), Pittsville to Rocky Mt., 30 miles; '°ta1 leased, 58 miles. Total owned and leased, 413 miles, of which 51 m , Strasb'g June. to Harrisonb'g,',is leased to the B. & O. (in perpetuity at B. & O.'s option for $89,250 yearly), leaving 362 miles operated. The Washington City Virginia Midland & Great Southern was sold Deo. 20, 1880, and reorganized as Virginia Midland, a.na bonds and swck Issued as above. In April, 1886, a lease ot this road was made to the Richmond & Dannlle on the basis of a payment or the fixed charges and the payment by the lessee of any balance of net earnings to the Va. Midland Co. The lessee may if it chooses advance the money for Interest on the etx teries or prior bonds if earnings are inelitficient, but guarantees poslttve]y the general mortgage interest. The Rich. & W. P. Term. Co. owns $3,577,333 stock, all but a few shares of which is deposited as security for its collateral trust deed. Of the above bonds, the first series 1s a fl.rat lien between Alexandria. and Gordonsville, inclu<l.ing lease or Charlottesville & Rapidan Railroad and the Warrenton Branch; the second series is a second lien between Alexandria and Gordonsville, includin~ Warrenton Branch and lease of Obarlottesville and Rapidan Ra., and a first lien between Charlottesville a.nd Lynchburg; the third series 1s a third lien between Alexandria and Gordt:'!l8ville, including Warrenton Branch and lease o! Charlotteaville .t Hapidan RR., and a second lien between Charlottesville and Lyncht>nrg; the fourth series is a :l'ourth lien between Alexandria and Gordonsville, includin~ Warrenton Branch and lease of Charlottesville & .Rapidan RR., and a third lien between Charlottesville and Lynchburg; the tl!th series ta a first lien between Manassas Junction and HarrisQnOurg, in oluding Front Royal Branch and lease of road from Strasburg to HarrisbOnburg to the B. & O. RR., and a fifth lien between Alexandria and Gt-ordonsville, including Warrenton B1'anch and lease of Charlottesville & Rapidan RR., and a fourth lien between Charlottesville and Lynoh'ourg; the sixth series is a first lien between Lynchburg and Danville. lnoluding Pittsville Branch and lease of Franklin &. Pittsylvai;u_a. R.R., and a sixth lien on lease of Charlottesville & Rapidan Railroad. The 4th series bonds carry 3 per cent till M.arch 1, 1891, then 4 till March 1, 1901; thereafter 5. The income bonds are exchangeable into the general mortgage bonds beari.J?-g 5 p. c. interest, and guaranteed und,er the lease by the Rich. & Danville RR. Co. Of the $12,500,000 general mortgage bonds ot 1886, $7,635,000 were held to rttire the serial bonds, also enough for the incomes. See ab• stract of mortgage V. 4 7, p. 23. Pa.rt of the general mortgage bonds bear the endorsed guarantee o! the Richmond & Danville. There was due other companies June 30, 1889, $481,2:!.0. From July 1 to Dec. 31, '89 (6 mos.), gross earnings were $1,192,528. againet $J88,829 in 1888; net, $160,364, against ;t;~78,222. ~arn1ngs tor the years ending September 30 were: Miles. Gross receipts. Operat'g exp'ses. Net recelpt,e 188!-85 . . • • 354 $1,554,375 $990.432 $563,943 1885-86 .• .. 354 1,551,703 1,032,431 519,272 1886-87 . .•• 367 1,635,667 1,051,739 583,929 1887-88 . • •• . ••. 1,800,426 1.099,823 700,602 -(V, 46, p. 418,699; V. 47, p. 22, 161, 532, 775.> , Virginia &: Truckee.-Reno, Nev., to Virginia,, Nev., 52 miles. Bonds all paid off. Gross earnings in '88 were $771,544; net, $366,721; dividends, $265,000; interest and bond payments, $114,500. In 1,887, ~oss, ~7_2 0,428; net, $358,999; i1:terest paid, ,$22,575; ~ividend~, $273,7::>0; bonds redeemed, $100,000, def., $37,320. D. 0. Mills, Prest. -Wabash Kallroad.-(See .Jfap.)-This consolidati€d oompany, formed July 29, 1889, owns and operates an extended system of ro3,as east and weEt of the Miss. River, which may easily be 11een on the accompanying map, as follows, viz.: OF OWNED WEST OF MISS. RlV:ER. OWNED EA.ST OF MISS, RIVER. Miles Toledo, 0., to East Hannibal, Camv Pt. and Elvaston, lll. Decatur, 111 , to E. Sr. Louis.. June. near Chicago to Effl.ng• ham and Altamont, Ill...... Streator to Fairbury....... . Edwardsville to Ed wards• ville Crossing, Ill............ Delrey,near Detroit, to Butler Miles St. Louts to near Kansas City. 275 ll 535 Sr. L. Levee to Ferguson, Mo. 110 ~ioberly to Ottumwa, Mo ..•• 131 Salisbury to Glasgow, Mo.... 15 LEASED WEST OF ?rlISS. RIVER. 217 80 31 Brunswickto Pattonsb'Ft,Mo. Centralia to Columbia., Mo... 21 8 110 Tot.own'd&.leaa'dW.of Miss. 533 LEASED EAST OF MISS. RIVER, Eel River RR., Butler to Logansport, Ind............... 94 Tc t. cov'r'd by I st & deb. M .. 1,638 TRACK.A.GE, ETC. Laketon Jun<'. to Chicago .•.·• 123 Total oovered by 2d mort •• 1, 105 8 i;hort pieces into Quincy, Detroit, eto.... . • • . . • •. . . . . . 83 Operat,'dfor Purchasing Com. 94. The following Is a statement of Maysv. to Pitti:field (leased> ••, 6 lines owned ana lPai:ed west ot the Grand total o erated .•••••• 1,94i Mississippi and ot trackage, &:,. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE WABASH RAILROAD AND CONNECTIONS. JANUARY, 1890. 14:S li.AILROAD STOCKS AND BONDS. Sub■crlber• will confer a great favor by giving Im.mediate notice of' any error dl■covered In the■e Tabie■• DESCRIPTION. INTEREST OR DIVIDENDS. Bonda-PrlllolMlles Date Size, or Amount · pal,When Due. For explanation of column headings, &c., see notes of of Par Outstanding Rate per When · Where Payable, and by Stocki-Lui on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. West Jerse.11-( Oon/inued.) Ocean City RR. bonds ............................ c* Swedesboro RR. bonds ........ .. . .. ............... Woodstown & Swedesboro, 1st mort. ......... . *c Salem RR . ................. .. . . . ...... .... .. ........ Wut Jersey ii Atlantic-Stock ................. . ..... 1st l\I. Newfield to Atlan. C.,33 m .,drn at 100.c&r Pleasantville & Ocean City, 1st mort ..•........•. West Shore-lat M., ~ar. by N.Y.C.& Hud., ....• c&r JV. Virginia Oent. ~ itts.-Stock . .................. . 1st M.,g., ($25,000p. m) . ................. .... .. c • Wut'n (.A.la.)-2d M., guar. Cen. Ga. and Ga. RR .... c ·Consol. M.,/!iol~,guar. by Cent. Ga. and Ga. RR .. c* Western~ .A.t ntic (Ga)-Income bonds ............. Western Maryland-lat & 2dpref. Ms.(lst m. end'd) 3d M., endorsed by Baltimore .............. . .... 4th mort. City of Baltimore stock ..•...•...•••.••. .5th mort., helll by City of Baltimore, s. fd ... ..... Baltimore & Harrisburg RR., three 1st morts .•. Mort. (for $690,000) ........................... c* 1st M.West. Ext., gu. by inilors.<$16,000p.m.).c* Western N. Y. d! Pennsylvania-Stock ($30,000,000) 1st mortgage ($10,000,000), gold ............... c* 2d mortgage (1st on equipment, etc.), ?iold ..... c* do deb.inc., non-cum.,red. at 100 a t er 20 yrs. do income scrip, red. at option ............... Warren & Franklin, 1st mortgage .••...•......••. We.tent Nort11, Oarolina--lst mortgage ....•...•.. c 1st oonsol. mortgage, gold ($12,500 p~r mile) .. c* 2d consol. mort. ($~5,000 tm.) ................... Western Pennsylvania-1st ., Blairs. to Butler .... 1st mortga/oe. Pittsb. Br., Freeport to Allegheny. Consot. .M.. or $5,000,000 g .. ,guar., by Pa. RR .. c* 16 11 11 isi;s 1882 ..... $1,000 lOO&c 1,000 ·:,fo 40 1,000 33 7 1880 100 &c. 448 1885 l,OOO&c 100 96 1,000 60 1;000 138 1870 1,000 138 1888 1.000 138 1873 90 58&68 500&0. 90 1870 500 &c. 90 1872 .... 90 1887 isso issi 0 32 iss·s 15 658 630 630 630 0 50 130 287 287 60 28 98 1888 i887 1887 ---· is65 ---.... 1:000 100 1,000 1,000 500&c. 1875 1884 1:000 1,000 1884 1863 500 &c. 1865 100 &c. 18R8 1.000 STO CKS AND BONDS.-The capital stock is about $52,000,000, of which $24.000,000 is pref., having a preference of 7 ptr cent per annum aon-cumula.tive, and $28,000,000 is common. Tne bonds are as given in the table above, ant abstracts of all the mortgages were published in the CHRONICLE of August 31, 1989, V. 49, pp. 270-273. The first mortga,D'e covers lines both east and west of the Mississippi, and enough bonds are r etained to r etire the prior liens on roads west; but the second mor tg age covers only lines east of the river. Of the debenture mortgage bends $3,500,000 are S9ries A (preferred in respect to interest payments only) and $26,500,000 series B. 'Tne aeries A bonds re leived 3 per cent interest in 1890. There w ere certain roads acquired free from mortgage which were pledged by the Purcllasing Committee to the Central Trust Co. in trust: (1) To repay any unpaid acl vances made by the Trust Co. during reorgantzation, a.nd to provide for any deficiency in fun1s to payinterestoncertiHcat -s for bonds deposited. (2) To pay debts a1,1:ainst the Receivers -0r Purchasing Committee not otherwise provided for. (3) And after the foregoing are sati,tied the proceeds or thf'se railroads and the Hume. & Shen. bonds, when solu, form a, sinking fund to pnrchase the fl.rst mortgage bonds at 105; but the l>onrls cannot be drawn. These roads w ere at that time the Des Moines & Northwestern, 115 miles; Des Moines & St. Louis, 67; Sr.. L. Jerseyville & Springfield, 71; Springfield & N. W., 44; Peoria Pekin & Jacksonville, 75; Attica Covingt-0n & South., 15; Champaign & Southea lt,, 12-total, 399 miles; and mortga"'e bonds of the Humeston & Shenandoah R-til way to the amount -0f $1, t42,ooo. (The Sorin~tlelrl & :-.iorthwestern and the P~oria Pe.kin .& Jacksonville, 119 m., were di , posed of before July,'89, leaving 279 m.) Ranie tn price of new stock has been: Of common in 1890 to Jan. 17, inclusive, 13¼'@13¼1; of preferred in 1890 to Jan. 17, inclusive, 2719@ ··s· New ...... HISTORY, ORGANIZA.T.ON, &c.-The suc cessive changes in the property &ince the Jlrst important consolidation of roads in 1856 under the name -Of Toledo Wabash & Western have been as follows: The Tol. Wab. & West. was foreclosed June 10, 1876 and the Wabash Railway was organized J~u. 1, 1877, embracing most of the lines east of the Mlsshsippi Riv"r b etween Toledo and East St. Louis. The St. Louis Kansas City & Northern west of tbe Mississippi R iver was formed in 187 las successor of the North Missouri Road foreclosed in August, 1871. The Wabash St. Louis & Pacific w11,s formed Nov. 7, 1879. by a consolidation of the above Wabash and St. L. K. a. & N. railroads and their 'branches. In April, 1883, this Wabash St. L. & Pac. was leased for 91:J years to the St. L. Iron Muuntain & Southern, on the basis of paying -0ver surplns earnings, and without further liability of the lessee. In May, J 884, receivers were appointed for the Wab. St. L. & P .. and the road was foreclo8ed April 26, 1886, but there was litigation and delay, the floatingliabillties were large, and the original agreement could not be carried out. Humphreys and Tutt were removed as receivers and Thos. M. Cooley appointed receiver for most of theliues -east of tbe Miss. River and be was followed by John McNult~. The lines west of the Mississippi were organized in March, 1887, as the Wabash Western. . The St. L. Ott. & C.R. RR. was taken in by Wabash & West. in Nov., 1887, and bonds were issued on the road bearing 7 per cent interest till Oct., 1889, then 6 till 1892 and 5 per cent thereafter. The Boone Co. & Booneville RR is leased to May, 1903. The Brunswick & Chillicothe was leased to St. L . K. C. & Nor. for 999 years. Us bonds bear 6 per cent interest till Aug. 1, 1900, then 8 per cent till maturity. On .April 1, 1887, the Eel River R ~- was leased for 99 yea.rs (see that company.) For the principal lines east of the Mhsissippi P..i ver a new plan of reorganiz ation was made, dated Nov. 21, 1887, emb ·dying parts of the -Old plan of July 15, 1885, and an 0'1tline of the principal tea.tures of thls plan was published in the fNVESTORS' SUPPLEMENT a.p to Janua.ry, 1899. This embraced the gener,i,l plan or a foreclosure o! the old m ortgages and the creation of a new first mortgage by the Consolidated Company, payable in fl.tty years from November 1, 1887, bearing .5 per cent interest in gold. Into this all the old flrat mort~age bonds, funded debt and scrip p ertaining thereto to b e convert1bie. A new second rrortgage upon the lines east of the Mis issippi River, bearing 5 per cent interest in goll. Into this the principal of the bonds -0f all the old second mortga~es, tho consolidateds of 1867 and tne sevens of 1879 to bfl convertible. The Chica.~o Division was foreclosed March 11 and the otiler lines on May 15, 1889 and an organization wa~ made proforma until July 29. 1889, when the consolidation was perfected between this company and the wr.-;,ash Western under the new title of "Wabash Railroad Company," with mileage as above stated, andstooks a nd tonds as given in the table above, and with the following Directors: J a.mes ~'. Joy, Ossian D. Ashley, Th Hnas H. Hubbard, Edgar T . Welles, Silney Dillon, James F. How, Charles M. Hays, George J. Go :ild, S. C. Reynolds, John T. Terry, Russell Sage. Officers: Os!lian D Ashley, Pre:iident; James F. How, Vice-President and Treasurer; Edgar T. Welles. Vice-P1·es1dent; ~- M. Hays, General Ma.nager, and J.C. Otterson, S ecretary. F. &A. Pbila. Of.,233 Bo.4th St. 6 $100,000 200,000 7 J. & D . do do 90,000 6 M.&N. do do 4 100,000 M_-&··s. 827,550 PhiL Office, 233 Bo. 4th. 219 M.& 8. Phila., Fidelity I. T. Co. 255,000 6 80,000 6 J. & J. Phila., Penn. RR. Office. 50,000,000 4 J. & J. N. Y ., Gr'd Cent. Depot Salt., Co.'s Office. 5,550,000 1 2,150,000 6 g. J .. &.J. N.Y., .J. H.Davis& Balt. .1,171,000 A.. & o. N.Y.Kessler&Co.54.Wall 8 372,000 41ia g. A. &O. do do 66,000 10 Atlanta, Co.'s Office. Q-J. 222,000 6 J. & J. 875,000 J. & J . Balt.,N. Meohanics' B'k 6 do do 1,000,000 6 J. & J . 1,800,000 do do 3¼ J. & J. 207,000 Various Balt.,Company's Offices. 483,000 M.&N. do do 240,000 5 g. M.& N. do do 19,730,444 --trg. J .•&.. J. N: Y., Bk.'of York. 8,700,000 19,505,333 3g.or5sc. A. &O. Paid 21ia scrip Oot., '89 None paid. 334,000 5 A. & O. 1,453 ,989 None paid. A. & o. 5 800,000 7 F. & A. N. Y. Office, 35 Wall St. Ralei);th, N. C. 850,000 M.&N. 7 2,675,000 g. J. & J. N.Y.,Rich.&Dan, 2Wall. 4,110,000 A. &O. 790,000 6 A. & 0. Philadelphia, Penn. RR. 435,000 do do J. & J. 6 do 3,000.000 4 g. J. &D. do 3 Aug., 1925 Dec. 1898 May 1, 1912 9ept.' i6,' "i8B9 8~. 1, 1910 J 1, 1910 Jan. 1, 2361 March 1, 1889 July 1, 1911 Oct. 1, 1890 Oct. 1, 1918 Oct., 1890 1890 & 1895 Jan., 1900 Jan. 1, 1902 Jan. 1, 1927 1892, '95 & '99 Nov. 1,1936 May 1, 1938 Jaii.""i',"1937 Oct. 1, 1927 Alter 20 ·-;ea.ra Feb. 1, 1896 M~ l 1890 J y 1.i 1914, Oct., 914. April 1, 1893 Jan. 1, 1896 June 1, 1928 months), gr.JBS earnings of $10,714.,424, against $10,203,860 in 1888; net earnings, $3,050,4ti3, against $2,328 .336 in 1888. The earnings and income account fJr the past two calendar years of the lines east of the Mississippi River operated by the Receiver, and of all the liI.tes operated by the Wabash Western were a.s follows: ,-Unes ea.st of Mis 3. R.-- ,-Wabash Western.1887, 1888. 1887. 1838. Gross earnings ........... $6,902,109 $6,553,lJ62 $6,518,062 $5,779,583 Operating expenses ...... 4,78-1,359 5,380,188 4,680,121 4,398,392 ---- ----- ----- ----- - - - -----Totalnet income .... $2,125,032 $1,181,15 L $1,990,918 $1,488,113 Tax es,r'nts,cutrusts,&c. 59Z,357 653,268 394,006 419,231 ---- - - - - - - - - - Balance.............. $1,532,675 $527,881 $1,496,912 $1,068,882 Int. on b ::mds and rentah . ....... ........ 916,733 925,497 ---Bnrplus .................. $1,532,675 $527,884 $580,174 $14.3,385 Net earnings ......... $2,117,750 $1,173,174 $1,837,938 $1,3.31,191 Other income............. 7,282 7,980 52,980 1'>6,922 -(V.47,u.42,327,382,473,626;V.49,p.68,100,190,261,325,327• 333,369,389,420,556,663,689.730,8~9;V.49,p.23,145,236,270• 30 l, 403, 435, 654, 690, 789; V. 50, p. 71.) Wa:re Klver.-Pa.lmer, Mass., to Winchendon, Mass., 49 miles. U is leased for 999 years to the Boston & Albany Railroad a.t a rental ot 7 per cent per annum. J. A. Rumrill, President, Spring:lield, Ma.es. Warren, N. J .-Line of road, New Hampton Junction to Dela.ware Bridge, N. J., 1814 miles. The road is leased in perpetuity to Delaware Lackawanna, & Western at 7 per cent on stock a.1ul bonds. John I. Blair, PrC':18ident, Blairstown, N. J. · Washington City & Point Lookont.-Hyattsvllle, Md., to Shepherd, Md., 13 miles. This road was opened tn 1873. Leased in perpetuity to the Baltimore & Ohio for $36,000 gold p er annum, being in• teres t on debt (a.s3umed by B. & 0.), and $3,tiOO tor an accumulative sinking fund-no drawin~s. The stock pa.id in is $1,000,000. West Jersey.-Main line and branches-Camden to Cape May Brid~eton, Riddleton, Bea Isle, Ocean City, &c., 179 miles; West Jersey & At1antic Railroad., 40 miled; total, 219 miles operated. Sinking fund of $12,500 yearly ror bondil of 1896 is invested in company's bonds and $598,250 were so held Feb. 1, 1889, including the $100,000 Ocean City RR. bonds and $100.000 Salem RR. bonds above. D.vtdends since 1830 have b een: In 1881, 4; from 1882 to 1884, inclusive, 3 and a scrip; :from 1885 to 1887, inclusive, 6; in 1888, 6¼1; in 1889, 7. From Jan. 1 to Nov. 30, 1889 (11 mos.) gross earnings were $1,423,· L70, against $1,459,187 in 1888; net, $412,501, against $499,908. The annual report for 1888 was published ill the CHRONIOLB, V, 4.8. p. 526. Income a.ocount ha.s been as follows: INCOME ACCOUNT. 1888. 1886. 1887. 1885. $ Receipts$ $ $ Gross earnings ........... 1,286,012 1,352,458 1,469,215 1,556,033 501,902 503,274 492,958 476,627 lllet earnings .............. 27,34.8 21,350 20,857 14,008 Other receipts ............ 524,624. 513,815 629,250 $ 41,745 lti0,174. 90,081 89,140 6p. c. 39~154. 182,343 90,652 89,142 6p.c. 31,397 175,174. 82788 138~081 619 P•ts 401,291 401,140 Total disbursements .••• 385,375 123,4.84. 112,52' B .wm.ce, surplus ............ 105,250 -(V. 45, p. 473, 614; V. 46. p. 191, 50 ~; V. 48, p. 526.) 427,489 101,761 Total income ..••.•••.••• 490,625 $ 39,098 Rentals paid . ........... . ... Cnterest on West Jer. debt.. 175,174 Net earn.ofW.J.&A.RR.,&c 81,990 89,113 Dividends . ................. 6p. c. Rate of dividend ............ Miscellaneous .•••..••...••.. . Disbut•sements- ·-· .... ---· $ ~918. We■t Jersey & A.tlantlc.-Owns-Newlleld, N.J., fio Atlantic City N. J., .i3 miles; Pleasantville & Ocean City RR., 7 miles; total, 40 mil• Opened June 17, 1880, and operated by West Jersey Railroad on a Joint traffic agreement and 25 per cent of gross receipts on Weal Jersey .from traffic of this road to be applied to any deficit in intereal e.nd then a.a sinking fund for bonds purchasable at 105, or drawn ai 100, tt over 105. In 1887 net earnings were $78,456; tn 1888, $32,787 -(V. 48, p. 291.) ORERA.TIONS, EARNINGS, &c.-The annual interest chal'ge on the Jlrst an,l second mortgages will be about $2,615,000, and the debentures -0all for $1,800,000 per year when earned (b11r, not cumulative), making the ch_a rges ·~head of 1>referred stock about $1,415,000. For the whole combiaed syste n of roads east and west the earnings l'eported monthly show from January 1, 1889, to Nov. 30, 1889 (11 We■t Shore.-Line of road from Weehawken, N. J., opposite N. Y. t,'ity, to Buffalo, N.Y., with branches to Albany City and Rochester City. a.bout 448 miles in all. This company was organized in December, 1885;. a.s successor to the N. Y. West ShoL·e & Buffalo, sold in foreclosure. A lease of the West Shore property to the New York Central & Hudsq, Company for475 years wa.s executed in complia.nce with the plan at https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. I46 [VoL. L.-. Subscribers wfil confer a great :favor by ~lvlng Immediate notice o:f any error· discovered In these Tables. Bonds-Prine!• DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or Due,. Amount Rate per When Where Payable, and by pal,When of Par Outstanding -.Or explanation of column headings, &o., see notes · of Stocks-Last Road. Bonds Value. Cent. Payable Whom. on fl.rat page of tables. Dividend. White Water-Stock ($325,000 of it pref.) .••....... Wheeling fl Lake Erie.-Common stock ..••..••..•• . Pref. stock, 6 p er ctnt, not cum .....••.•••..••..... lat mo~age. gold ....•.........•........••...•. o• lat M., heeling Div.,$ & £ (2d on 187 miles) .. c· Toledo Belt Ry., lat mortgage, guar ............. . Exten. & Impr. mortgage for a,1,900,000 g ..... c* Wilm. Oolum. &Aug.-Stock, 6 p. c., guar.Wil.&Wel. 1st mortgage . ..........•.......•. .. ..•........ .. .. c Wilmington fl North.-1at M., 20-40's ($1,000,000) . Wilmington fl Weldon-Stock ....•... . .. .......•.•... Binldng fd. bds.,isf·• provided for by gen'l mort.o* Gen'l mort. for ,000,000 ($12,000 per mile} .. o' Cert. of indebtedness. non-cum., income .•••.•••. Special Trust certificates .............••..•...••.•. Winona fl South W.-lst M., $18,500 p. m. 01d ... c• Wisconsin Gent. Oo.-lst M. for $12,000,0 0, ~ .. c" Income bonds, non-cum., gold, for$9,000,00 .. o* Wieconsin & Minn .• lat mortgage ..••••........... Minn. Sr. Croix & Wia~onsin, lat mortgage ....•.. Terminal mortgage notes ..•..••..••.•••......•• . Improvement mortgage notes . ..•..••......••••. -chic. Wis. & Minn. (leaeen)-lst mort., gold . •• . c .. do do income bonds, 6 p. cent, cum. lViBconsin Cent RR.-Consol. M, 1st series, gold.o&r Con. M, 2d ser's, income (not cumula've)gold.c ..&r Worcester Nashua fl Rochester-Stock .............. 1st mort., issue of 1873, Worces. to Nashua . . do. do. Jssue of 1875 ..•.••••..•..••...•...•. c* do. do. issue of 1886 .••......••....••...•... c* Nash. &Rooh.,lst m.(2d m.Worc.toNasb.46m.)o* Zanu. fl Ohio Ri11tr-latM., gold, $25,000 p. m .. o• 6 0--1 65 187 187 187 50 ·- ..... ---- 1ifs6 1888 e 1se·9 227 i8so --- . 1887 .... ·--· .... ··-- i8s5 .... .... ·--· .... isss Aii. All 54 .... .... i22 326 326 94 1887 1887 1880 1884 1886 1885 1885 1879 1879 11873 1875 1886 48 1874 80 1886 46 $100 100 100 1,000 1.000 $1,300.000 3 ,500,000 2,600,000 3,000,000 1,500,000 500,000 1,000 100 l,OCO 500 100 1,000 1,000 100 (1) 1,000 1,000 1,000 ---· .... .... 1,000 500&0. 500&e. 100 500 &c, lOOO&c. 1,000 500 &o. 100 &c. 960,000 1,600.000 500,000 2,500,000 936,000 2,800,000 2,500.000 380,000 555,000 9,501,000 6,566,167 810,000 212,000 400,000 215,000 . 2,860,000 1,04.0,000 1,745,500 1,546,000 3,099,800 250,000 400,000 150,000 fl65,000 2,000,000 --- ----- --·· ·····--··· - . -- . -- .. Q:..::..=F. N.Y., Offlce;40Wall St. Feb:· i4, "i890 1 5 g. A. &0. N.Y., Mercantile Tr. Co. Oct. 1, 1926 5 g. J. & J. N.Y ,Cent.Tr.Co.&Lona July 1, 1928 Pa.r.t ea ch year··-··· ··5·g. F."&.A. Feb. \:, 1930 J. & J. Wilmington, N. C. 3 Jan. 10, 1890 J. &D. N. Y. and Baltimore. June 10,1910 6 J. &D. Co.'s Offloe,Wilm. & Del. 1907-1927 5 J. & J. Wilm., N.C., Co.'s Office. Jan. 15, 1890 4 1896 g. J. & J. N.Y.,Bost.,Lond.,Frank J. & J. N. Y. Bait. & London. 1935 A. & O. 7 Baltimore. 6 ·i928 6 g. A.. &..O. N. Y., J. Walker & Sons. April 5 g. J. & J. N.Y.., 36 Wall & Bo11ton July 1, 1937 5 g. A. & 0. No coupons paid. July 1, 1937 7 A. & 0. Boston. April 1,1910May 1, 1915 6 . ... .......... 8 Aug., 1895 . Sept. 1, 1906 8 M.'&··s. New York, 36 Wall St. March 1, 1916" 6 No coupons paid. March 1, 1916 ··:fg. J. .&.J. Boston, 50 State St. Jan.1,1909 7 g. J. & J. No coupons _p aid. Jan., 1909 3 J. &J Worcester, Office. Jan. 2, 1890A. & O. Bost., Globe Nat. Bank. April 1, 1893 5 F. & A. do Feb. 1, 1895 do 5 4 J. & J. do do July 1, 1906 A. & O. April 1, 1894, 5 do do 6 g. F. &A. Last vaid Feb. 1, 1889. Feb. 1, 1916 ---· i ·····--· ·i: --· ... ··---- I reorganization in 1885. The $10,000,000 ofatook is owned by the New York Central Company in consideration of that company's guarantee of the principal and interest of the $50,000,000 of new bonds. '.rbe mort gage is made to the Union Trust Co., as trustee, and covers tbe line of road, Weellawken to Buffalo with branches, 448 miles in all, and also the terminals at Weehawken by ownership of all tbe stock and bonds of the Terminal Company. Tbe ~arantee of the N. Y. Cent. & Hudson is absolute as to interest a,nd prmoipal and is endorsed on each bond. West Va. Central & Pltt8bur~-A coal and railroad company in Nest Virginia in the upper Potomac region-the Elk Garden Coal Field. Owns road in operation from junction near Piedmont, W.Va., t,o Elkins, Randolph Co,, W. Va., 84. miles: branches to Mineville, Elk Garden. etc., 16 m. Leases Piedmont & Cumberland RR., Piedmont to Cumberland, 29 m.; total operated, 129 miles. Owns 32,244 a cres of coal and lumber lands covered by the:fl.rst mortg., and has mineral rights on 5 ,407 acres more. From Jan. 1 to Dec. 31, 1889 (12 months), gross earnings were $759,947, iJgainst $661,697; net, $240,812, against $207,548. In 11!8~ net J'roflts (coal and RR.) were $181,764; surplus over fixed charges, $86,878. In 1887, n et profits on coa1 sales, $51,982; net from railroad, $71,394; total net revenue, $123,376; interest paid, $68,560; ,mrplus, $60,635. Fint dividend, 1 p. c., was paid March 1 , 1889. H. G. Davia, Baltimore, President. (V. 46, p. 480, 610; V. 48, p. 129.) Western Alabama.-LINE OF ROAD-Selma to WestPoint, 138 m. Was a conaolidatiion in 1870 of Montgomery & West Point and Wefitern of Alabama. Sold May 10, 1875, in foreclosure and purchased Jointly by the Georgia Railroad and Central Railroad of Georgia. In Sept., 1888, the coneol. mortgage for $1,543,000 (Metropolitan Trust Company, NewY01k, trustee) was issued to retire bonds falling due, $1,171,000 bonds being reserved to retire 2ds, due Oct., 1890. In 1888-89 gross earnings were $483,709; net, $139,363; t urplus over :fixed chargf s, $22,647. Stock, $3,000,000; par, $100, of which $1,500,· 000 is owned by Cent. of Ga. Western & Atlantlc.-Atlanta, Ga., to Chattanooga, Tenn., 138 miles. Built by State of Georgia and opened in 1850, and by an act of October 24, 1870, was leased to a company for twenty years at a monthly rental of $25,(lOO. Gross earnings in 1888, $1,315,736; net over e~penses and !axes, $441,284. (V. 49, p. 270.) Western 1'.laryland.-LINE of Ro.AD-Baltimore to Williamsport Md., 90 m. LfaEes- Balt. & Cum. Val. RR. and extension; Edgemont to Shippensburg, Pa., 34 miles; Bait. & Harris. RR., Emory Grove, Md., to Ort aI1.Da, Pa., 59 miles; western exten., Ortana to Fairfield, 4 miles, and operated branC'hes, 19 miles; total, 206 miles. 1he Baltimore & Harris· burg was leased in No v., 1886, for 99 yeare. The stock is $684,700; par. $50. 1 h e company bas been largely assisted by the city of Baltimore, and its balance sheet Ehows as outstanding, in addition to debt as al ove, a city loan of $684,000 due in 1925 and $519,b20 st.ill payable (car trusts, etc.) Of the Balt. & H arrisburg RR. the West Md. owns a large amount of the $659,050 (par $50) stock; of the issue of $690,000 bonds, $207,000 are lield in trust to .!)ay off prior :worts. ln 1888 a new mort. was issued to extend th :i B. & H. to Blue Rtdge Summit, Md., 15 miles. Fiscal year ends Sept. 30. Operations on main line and B. & C. v. RR. (and 1ncludrng also Balt. & Har. in 1887-88) have been as follows : 1888-9,gross earnings, $773,(68; net, $255,726; betterments $101,218; in 1887-3, gross, $771,210; net, $:t:90,684; betterments, $107,233. -tV. 47. p. 708;.V. 4'8, p. 490; V. 4!J, p. 270.) Western New York & Pennsylvanla.-The line of road is -Buffalo Division•-Buffalo, N. Y .. to Emporium, Pa., 120 miles., Larabee, Pa., to Clermont, Pa., 22; Pittsburg Division-Buffa.lo, N. Y., to Oil City, Pa., 136; Titusville, Pa., to Pioneer, Pa., 9; Olean, N. Y., to on City, Pa., 116 miles; Oil City to New Castle, Pa., 66; Tryonville to Union City, 17 miles. Rochester Drv1a1on-Rochester.N. v., to Hins• dale, N. Y., 99; Olea,n , N. Y., to Bradford, Pa., 26; Bradford, Pa., to Kinzua, Pa., 26; Eldred to Tarport, 18 miles; Swain's b1 anch 11 m.; Genessee Valley Ter. RR., 3 miles; total operated, Sept. 30, 1889, 670 miles, of which 36 miles under lease. This company was organized Nov. 2 2, 1887, as successor to the Buf.lalo New York & Philadelphia (a consolidation of 1883), which became embarrassed in 1884 and was sold in foreclosure Sept. 15, 1887. The :Plan of reorganization dated Feb., 1886. was in tbe CHRONICLE, V. 42, p, 242. Of the old bonds all but $800,000 Warren & Franklin bonds a re retired, and for thf'se first mortgage bonds are retained to pay them in 1896. The 2d mo1tg. bonds are second lien on the railroad and :first "on terminals, coal and equipment. subject to kase of terminals and equipment to lat mortg. bondholders if foreclosed" Till Jan., 1898, they bear interest at tbe rate of 3 per cent, but till 1893 interest may be paid wholly or partly in scrip as fol lows: 1 per cent cash 4 scrip; 1 ½I cash scrir: 2 cash 2 scrip; 2¼ cash 1 scrip ; or 5 per cent if paid all in scrip; afterl898 tberate is 4 p. c. cai,h aud, if ea1ned. 7 per cent may be paid, but after 3 per cent has bef'n paid on second mortgage bonds, the stock and seconds share alike. The strip issued for iuterest bears 5 per cent interest, non•cumulative, pf!,yable only if earned, is secured by tbe coupons placed in trust therefor. and is due 20 years from date but redeemable at option. It is convertible into income debentures also non-cumulative. and nayable at option. Trustee or 1st mort., Jfercantlle Ti:ust Co., of N. Y.; of 2d mort. Fidelity T. & S. Dep. Co. _, Philadelphia. (See mortgage abstracts, CHRONICLE, V, 47, p. 109.> https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - Second mortga.g e coupons due in 1888 and 1889 were paid in scrip. From Oct 1, 1889, to Nov. 30, 1889 (2 months). gross earnings were $630,161, against $598,431 in 1887•8; net, $157,494, agat. $154,010. · Fiscal year ends Sept. 30. The report for l888-ti9, was in the CHRON• ICLE V. 50, p. 105, showing large expenses for betterments charged in operating expenses. 1887-8. 1888-9. Gross earnings ...•••••...••• .••..••..••..••. $3,061,566 $3,386,659 Operating expenses.......................... 2,205,432 2,699,337 Net earnings······-······················ $856,134 $687,322 INCOME ACCOUNT 1888•89. Net earnin,i:a ......•..••.•••...•..••..••..••..••..•...••.••••.••... $687,32Z From which deduct- R entals ..•..••..••.•••...••.•••....••..••..••..••..••... $65,001 Taxes .......•..••..••..••..••..••..••..••....••..••..••. 86,801 Insurance . . . . .. . • . . . ••. . ••. . •• . . ••. . ••. . ••.• ••.••• . • ••. 4.063 Interest on real estate mortgages..................... 23,364 Interest, discount and commii sion... . ......•.......•. 1,389 Interest due and accrued on 1 st mortgage bonds .•• .480,730- 661,348 Surplus for 1888-89 ..••.•••..••..••..••...•..•...••.•••..•-.. $25,974 -(V. 46, p. 76,173,198, 201, 245, 353, 413,538, 539, 803; V. 47, P~ 109,161,278; V. 48, p.70, 98,222,389; V.49, p. 236,1826; V. 50, p. 105.) Western Nor1h Carollna.-(SeeMapof Richmond fl W. P. Term.) -Owns from Salisbury, N. C., to P,i,int Rock, Tennessee State line, 185 m.; Asheville to Jarretts, 102 m.; total, 287 miles. Operated with Ash. & Spart.,66 miles, as West Nor.Car. Division of Rich. & Dan. Under construction Jarretta to Murphy. The road was financially embarrassed, and was purchased April 17, 1875, by commissioners for the State of Nortb Carolina, and subsequently finished by the Rich.& West PointTer. Ry. & Warehouse Co. In May,'86, leased to the R. & D. for $134,980, in• terest on bonds. Stock, $4,000,000 common and $4,000,000 pref. The second cons. mortgage for $4,110,000 and $1,325,000 of the lat console. are d eposited to secure the 1887 collateral trust of Rich . & W. P. Term., while $3,168,300 common and·$3,168,300 pref. stock are depoi;,ited under its co1lat. trur, t of 1889 ; $850,000 of lat consols are reserved to retire the 7 per cents. In 1887-88 gross earnings, $629,379; net, $85,222; d eficit under charges, $99,633. In year ending Sept. 30, 1887, gross earnings were $660,599; net, $84,3!50; interest (no~ includ:in~ any on bonds held by R. & W. Pt. Term.), $160,7H; detlmt, $76,39~. June 30, '89, there wasdueothercompanies,$1,430,973. (y.46,p.699.} Western Pennsylvanla.-0wns from Bolivar to .Butler, Pa., 70m .; ·orancn to Allt-gheny C1ty, Pa., 28 miles; total. 98 miles. Anew ieaae to tbt Pennsylvania Railroad for 50 years was made in 1883; rental net earniugs. The Pennsylvania Railroad, lessee, owns $1,753,350 of the $1,775,000 stock (par $50). The conaol. mort. bonds of 1888, guaranteed by Ptnn. RR., replaced old five per cents; $1,225,000 bonds are reserved for prior bonds. Gross earnings in 1887, $1,434,655; net, $528,241; Gross in 1888, $1,4,0,258; net, $570,127. Dividends have been: In1885, 6 per cent; in 1886, 9; in 1887, 3; in l88 o, 6; 1n 1890, 6. (V. 46, p. 481.) White Water.-Valley Junction, O., to Cambridge City, Ind., 65 miles. This was formerly the White Water Valley, sold in foreclosure May 2, 1878, and reorganized under this title. In year ending April 30, 1889, gross earns. were $96,153; net, $6,651, against net $2,601 in 1887-88. Elijah Smith, President. Wheeling & Lake Erle.-Owns Toledo, 0., to Bowerston, O., 174 miles, and branch to Huron, 0., 12 m .; Wheeling Div.; Bowerston to Martin's Ferry, opposite Wheeling, 42 m., and branches, 8 m. Sold in foreclosure April 23, 1886, and reorganized in July, 1886, with stock of $3,600,000 ($100 shares), wbich in March, 1888, was made a preferred 6 per cent non-cumulative stock, common stock f •lr $3,50.0,000 oeing authorized. Dividends on pref. stock have been: In 1888 3 per cent; in 1889, 4; Feb., 1890, 1. Mortgage of 1888 for $1,500,000 was issued to extend the road to Wheeling from Bowerston, O., and the contractor pays the interest on this till Jan., 1890. It is proposed to issue an improve• mtnt aud extension moi-tgage for $1,900,000 (of which $500,000 to be reserved to retire the Toledo Belt bonds and the rt-ma1nder for exten• sions and equipment. In Dec., '89, $3,500,000 common E;tock was is• sued to ·prov id~ means fo, new construction, and this was afterwards authorized to be raised to $6,000,000. From July l to Oct. :n, 1889 ('1 mos.), gross earnin~s were *32'1,688,. a gainst $301,495 in 1888; net, $1:H,007, against $111,713. Annual report for 1888-&9 was in CHRONICLE, V. 49, p. 653. In year endiug .June 30, 1889, gross earnings $870,495; net, $302,158; surplus over interest a nd taxes and dividend paid (4 p . ct.}, $7,225.-(V. 46, p. 371,538, 650; V.47, -p. 139, 325, 563; V. 48, p. 38; V. 49, p. 653, 680, 789, 826; v. 50, p. 71.) Wilmington Columbia & A.ugusta.-0wna from Wilmington, N. C., to Culumbia, 8 . 0 ., 189 miles. Leases jointly with Northeastern 8. C. RR., the Central RR. of South Carolina, Lane, S. C., to Sumter, s. c., 38 miles. Total operated, 227 miles. Road was sold in foreclosure, October. 1879, for $860,500, and com• pa.ny reorganizeq under present style. Dividends ot 6 per cent yearly have been paid emoe 18ljl, J.A.NUARY, 1890,] CANAL AND MEOELLANEOUS STOOKS AND BONDS. Subscribers ,vlll conCer a great Cavor by giving lmJDedlate notice oC any error discovered In these Tables. Bonds-Prill«• INTEREST OR DIVIDENDS. Size or Dne. Amount Rate per When Where Payable, and by pal.When Par Stocks-Last Whom. Dividend. &C'n'l Bondti Value. Outstanding Cent. Payable DESCRIPTION. Miles Date -.or explanation of column headings, &o., see notes Road on first page of tables. . ol ----- - - --- - - - ----- - - - ---- CANALS. Ohuapeake <I Delaware-Stock ..•.••••.•..•.•••.•••. let mort~age (extended in 1886) ...............•. r Delaware Division-1st M. (ext'd 20 yrs. in 1878).c Delaware <I Hudson.-cBee Railroad pages.) ~high Ooal <I Navigation-Stock...... . ........... lstm. canal,6,030acresooaland 76m. L.&S.RR.r letm. Leh. & Sus. RR.. Mauch Chunk to Easton .. r 2dM.on Can.,Coal&RR.andlstM.Nant.RR.,26m.c* Cone.3d M.Canal,Coal&l22 m.RR.; 2d M.26 m.RR. Greenw'd 2d on l,254aoresooallanll (ext'd,'77).r General mortgage for $15,000,000, ~old ..•....•. r •on-is-Stock, oonsol.,4p.o. gu. 999 yrs. byLehighV. Preferred stock, 10 p. c. gu. 999 yrs. by Lehigh V. p:!~?,,~f~~iocii:: ::: :::::.:::::::::: :: :::::: :::~ Gen. mortg., e. f., interest guar'd by Penn. RR •• o* 14 14 60 339 124 46 196 196 1886 1858 $50 $1,903,238 500 &c. 2,602,950 1,000 800,000 50 12,821,800 Var. 5,000,000 Var. 2,000,000 500&c. 1,843,000 1,000 2,466,000 1,000 643,000 1,000 2,535,000 209 100 103 1,025,000 100 103 1,175,000 1,000,000 103 '76:;85 1,000 50 316 4,!'\01,200 1,000 316 1870 2,738,000 1864 1867 1867 1871 1872 1884 .... ··:r 6 ~ ~ American Ootton Oil Trust-Certificates ..••.....••...••.••. ' American E~ess-Btook .•••.••••••. ••••••...••••••••••.•••. <Jahaba Ooa Mining-Stock ..•..•.......••...•...•.•••..... ii.et mortgage sink. fund drawn at 110 ...••.••••.••. c•& r Oameron Iron d! Ooal Oo- let mortgage ..•..••.•••..••...•. Oanton Oompany-Stock (44,300 shares) ..•.......•...•. . ... ~ June, 1885. t?-e ~oad and property of 100 100 500,&c. 100 25 100 100 100 i886 , 1,000 1888 ---· . .... .... ...... .1614 I 12,000,000 13,712,100 2,000,000 14,000,000 1,500,000 42,185,228 18,000,000 1,400,000 750,000 1,000,000 719,875 Philadelphia, Office. do do Phlla., 226 So. 3d st. JufiT,".i916 July 1, 1898 21g 41g 6 6 g. 7 7 J. &D. Philadelphia, Office. Dec. 11, 1889 Q-J. do do July 1, 1914. Q-F. do Feb. 1, 1897 ao J. &D. do do Dec. 15, 1897 J. &D. do do .June 1, 1911 F. &A. do do Feb. 1, 1892 4lg~. Q.-F. do do May 1, 1924. F. &A. Leh. Val. RR. Co., Phlla, Feb., 1890 2 F. & A. 5 do do Feb, 1890 A. & 0. do do 7 April 1, 190& ..6. •J. .&.. J . Phlla., 233 So. 4th St. Jui;.:·ii:Jio MISCELLANEOUS. .... ~~~!a!~ff~~~::s·toci·i$20,ooo,ooo ~uti'ioi=t·ieci> Debentures ($2,000,000) red. at 110 aft Jih. ~1, 1890.c&r isss Am.er. Tel. <I Oable-Stook, f:1ar.5 by West. ruon .••••• ... . --· ~m.Ooal (Maryland)-Stoo .•••• •• ...••..• ••• •.•••••••••••. J. &D. J. & J. J. & J. 2 3 7 114 3 1 3 ·•rg. .... . --· N. Y., 59 Broadway. i-M. .-J. Boston, Compy'e Office. Dec. 2, 1889 Jan. 15, 1890 F. & A. do do Aug. 1, 1898 ~.-M. N. Y., West. Union Tel. Dec. 1, 1889 .& s. N. Y., office 1 Broadway. N. Y., 45 Broadway. J. & J. N.Y., Co.'e Office, 65 B'y J •.&..J. N. Y., Farmers' L. & Tr. In default. . ·-· ..... .. -..... ··-· Sept. 10, 1889 Aug. 1, 1887 Jan. 2, 1890 ·i; Jan: 1907 1928 . ....... this company we!e leased for $83,000; St. P. & St. C. F. :!.st mort. 6s, $90,000. Preferred stock, (6 per 99 years to the Wilmington & Weldon, the lessee to pay all mterest and cent, 0111Dulative) - authorized $3 000 000 outstanding $2 627 4.0itlxe~ oharg-es and 6 per cent dividend on ~he stock, payable semi-an nu- common stock, $12,000,000. Ne'arly' all the stock of' the 'wisconsin !J,llY m January and July. In 9 mos. ·en d1,ng June 30, 1889, gross earn· Cent. RR. is now owned, an<l $2,054.,500 of its 1st series and $4 154 500 mgs were $691,912; net receipts. $204,319; paid interest, $96,00o; of its 2d series bonds additional to the amounts given in t:i.ble' as 'out-dividend, $ ?8,800; car trust, $12,000; balance to Wilmiti~ton & Wel• standing. Trustees of mortgages, John A. Stewart of New York and don, $67,519. In year ending Sept. 30, 1888, gross $779,989; net $240,· Edwin H. Abbot. of Cambride:e, Mass. ' • 648; surplus $48,499 over interest and dividends.-:(V. 47, p. 80 l.) The Chica.szo Wisconsin & Minnesota, from Sohleisingerville to Chioa:WllJDlngton & _Northern.-0wns ~om Wilmington Del.~ to gl) & Great Western terminals in Cook Co., Ill., 122 miles, was leased Birdsboro, Pa., 64 ~es; branches, 24 miles; total owned 87 miles; Sept. 1, ~885, in perpetuity to Wisconsin & Minnesota, now a'Jsorbed by trackage le!l.sed, 5 miles; total operated, 92 miles. This company , Wisconsin Central Co. Rental is 37·50 per cent of gross earnino-s, less was organized Jan. 18, 1877, as successor to the Wilmini:rton & Reading I its p roportion of terminal charges, but surplus rental over $350 000 RR. Co., which defaulted on its interest and was sold in loreolosOie Dec. yearly is divided equally w ith l essee. ' 4, 1_8 76. The mortgage for $1,000,000 was authorized to cancel exist- : From July 1 to Nov. 30, 1889 (5 months), gross earnln"'B on the entire mg ct.ebts and to pay for improvements; but only $500.0oo·oan ba issued system (inol11ding Wisconsin Central RR.) were $2,130 052 against on present mileage. Gross earnings in 1886, $384,287; net earnings, ' $1,877,628; net, $907,84 >, against $661,593 in 1889. ' ' $54,272; other receipts $1,680. In 1887 gross $383,336; net over : Fiscal year ends June 30. Report for 1888·9 was in CHRONICLE expenses and taxes, $49,075; surplus over.fl.xed char ges, $36,34.7. Paid ' V. 49, p. 613. ' interest, $12,570; bonds redeemed, $2,400. (V. 4.5, p. 614..) EARSINGS ASD EXPENSES. . 1888·89. Wlmlng;ton & Weldon.-Owns Wilmington to Weldon, N. c., 162 : Number of miles operated .•••...••• ··•••··•••··•• · •••·•••••·••• 829 miles; branches-Tarboro, 16 m.; Scotland Neck, 4.3 m.; Fayetteville, Gross earnings .......... ........................................ $3,897,564' 71 m.; Spring Hope, 19 m.; Warsaw, 13 m.; other, 3 m.; total own ed. 327 Operating expenses .••..•••..•..••..••..•••••••.•••.•••.•••.••. $.2,604,603 m. Operates Albermarle & Raleigh RR., Tarboro to Plymouth, 54 m.; --- Greenville Extension, 14 m.; Midland of N.C. RR., Goldsboro to SmithNet earnings ..•..•••..••..••..•••.•••.•••..•.•••.••..• ••.•• . $1,292,961 field, 22 m.; Florence RR., 27 m.; Manchester & Aug., 16 m. Leases (V 4 6 4 71 826 48 5 Wil. Col. & Augusta, 189 m.: Central South CJ.r. (jointly with N. E. so. · • p. • ; V. 47, p. 52, -173; V. , p. 327,452, 590, 829, 85 , Car. RR.) 38 m. Total of all, 697 m. Leased Nov., '72, toWil. Col. & V. 49 , p. 23 • 613 , 857 ; V. 5 o, p . io 7 .} Aug RR. for 99 years. The lessees made default December, 1877, and Wisconsin Central Kailroad.-Owns the main line and the tease was surrendered April 13, 1878. In June, 1885, this company branchet1, Menasha to Ashla,n d, 25~ m.; Stevens Point to Portage City, took a lease for 99 years of the Wilmington Columbia & Augusta. (Bee 71 m.; branches and spurs, 25 m ..; total owned, 348 m. Leases: Mil· that company above.) waukee & Lake Winnebago, Neenah to Bohleisingerville, 64 miles, There was June 30, '89, $1,686,755 to the credit of the sinking fund. and spur 2 m; Packwaukee to Montello, 8 miles; trackage, Milwaukee The certificates of indebtedness, $2,500,uOO, were distributed to ii tock• to Bchleisingerville, etc., 34 miles. Total operated, 460 m. This road.is holders in J ,muary, 1887, as a scrip dividend. There were also June still operated independently by tmstees, but in harmony with the Wis30, 1889, $205,405 new equipment notes. oonsin Central Company consolidated lines. Divi•1ends since '77 have been : From '78 to '81 , inclusive, 3 per cent; There was a land grant of 831,976 acres, of which to Dec. 31, 1887, in '82 and '83, 6; from '84 to '89, inclusive, 8.; in '90, Jan. 15, 4 p. c. 222,410 acres had been sold for $624,453, and 2,473 town lots and 28 Fiscal year changed to end June 30. For 9 mos. ending June 30, 1889, blocks for$113,747, receipts from pine stumpage to tbat date being$909,· on 319 miles, including Midland of N. c., gross earnings were $ 393,- 270. Interest on the second series of bonct.s is payable Jan. and July, but 037; net, lE460,315; total net (inoludingW. c. & A. lease account. etc.), dependent each time on the net earnings of the half year ending ri:l: $611,455; paid interost, $307,070; dividend, $100,000; balance, $20i,· months before. The stock of $2,000,000 preferred and $9,4.35,500 com• 383. For years ending Sept. 30, income aooount was as follows: mon was depositea in trust with Stewart and Abbot, Trustees, to be voted on until all interest should be earned and paid on bonds. TrusEarmnpa 1884.•5. 1885·6. 1886·7. 1887-8. tees' certi:fl.cates for new stock (without voting power) were issued to Net earrungs .• ••. $373,140 $374,100 $535,675 $654,227 the old stockholders, which pass as a delivery on sales. All ex::cept a Other income..... 29,934 22,709 21,413 47,000 small f raction ol the stock is owned by the Wis. Central Oompany. --- - - Proceeds of land sales go to sinking fund for bonds; no drawings. Tot. net earn'gs.$403,074 $396,809 $557,088 $701,227 'l'he Milwaukee & Lake Winnebago RR., from Neenah to Sohleisingel"Disbursementsville, is leased for 99 years; the rental is 37:Jg per oen t of gross earnings Interest........... $79,365 $133,3,j3 $327,708 $355,020 up to $175,000 per year, all surplus to go equally to lessor and lessee. J>lvidends ..•. (8 %) 166,592 (8%) 200,000 (8%) 200,00() (8 %> 200,000 and the bonds are issued subject to this lease. The exohan$e of stocks and b onds b,y Wisconsin Central holders was Total ...••..•• . $245,957 $338,353 $527,708 $55!:: ,020 optional, and m the table above is given the amount not exchanged. Balance, surpl118. $157,117 $58,456 $29,380 $146,207 the earnings, &o., were: In 1886•8'i and 1887-88 the net receipts include those from the W. 1887. 1886. 1885 . 1888• C. & A. learn and the int. paymenJis, $175,000J paid on oertifioatess of Gross earnings .....••. $l,-l 6 l,OO! $ 1 ,565 , 313 $2,050,291 $2,0 4 0, 6 77 47 lndebtednees. (V. • p. 80l .) Operating expenses... 941,881 1,182,080 1,509,581 1,550,816 Winona & Sonthwestern.-Road projectt1d from Winona, Mmn., ---lo Omaha, Neb., 375 miles, completed from Winona to Utica about 31 m. Net earnings . ... .. $519,123 $383,233 $540,710 $489,861 Has close alliance with Green Bay Winona & St. Paul RR. Trustee )f Rentals,oarserv., &o.. 310,406 366,559 473,842 685,300 1nortgage (for $6,950,000), Farmers' Loan & Trust Co. Stock: Common, $3,750,000; pref., $3,750,000. (Bee v. 46, p. 819; V. 4.7, p. 140, 626.) Balance............ $208,716 $46,674 $66,868 $195,439 -(V.45,p. 26,240,573; V.46,p.228;V.47,p.107;V.4.8,p.190,327,4~8.) Wllllconsin Central CoDJ.pany.-Ownsjunction near St. Paul to Worcester Nashua & Kochester.-OWDB from Worcester to Abbotsford, Wis., 157 m; branch to B€sseme1·, 34. m.; other branches Nashua Nashua to Rochester, 94 miles. Consolidation 1883, of Worto Eau Claire, &o., 14 m.; spurs, 22 m. Leases Chio. Wis. & Mi.on., Chi· cester & and Nashua. and Nashua. & Rochester. oago to Sohleisingerville, 112 m., and spurs, 8 m.; trackage to Chio ,go, In October, 1885, a lease of this property for 50 years, from Jan!..!-.t. Minneapolis, etc., 27 m.; total, 374 miles; controls Wis. Cent . RR., 1886, was made to the Boston & Maine RR. Co. at a rental of $250,vou less 5 m. included above, 455 miles. Grand total, 829 m. This company a.nd taxes. For 1888·9 rental $250,000; net over ti,ll fl.xed charges, was organized June, 1887, to gather into a single corporation the $161,453; paid dividend at 6 per cent, $183,846; deficit, charged to ownership and control of the Wisconsin Central Associated Lines. profit al!d loss, $22,393. Balance of profit and loss June 30, 1889, In May, 1889, an arrangement for Northern Pacific to run over . Dividends since 1883 have been: In 1834, l¾; in 1885, the lines of this company into St. Paul and Chicago was made ty a con• 3l!l259,817 and 17 stock; in 188 6, 3; in 188 7 and since at rate of 6 per cem; tract for 99 years from July 1, 1889. In Jan., 1890, it was decided to change this contract to a lease on a rental of 35 per cent of gross earn- yearly. Zanesville & Ohio Klver.-Owns from Zanesville, O., to ings, but other details had not been determined when t.his 8 OPPLEMENT went to press. The operating contract had the following provi• Harmar, on the Ohio River, oppoaite Marietta, about 80 miles·, in• sions. The Wisoomin Ct.-ntral retains 35 per cent of its gross earn• eluding branches, 3 miles. Whole line put in operation on Sept. 15, Inga, and appropriates the 65 per cent to Northern Pacifio for opt:ratiug 1888. At Shawnee Juno. road connects with the Shawnee & Musk. expenses and certain improvements. If the operating expenses are River Railway, oonstrncted by parties interested in the Z. & 0., and lees than 65 per cent, the Northern Pacific receives a sum equal to one• having a coal traffic secured by contract for a term of 30 ye ars. Stock half of the ,~ifferenoe. If the operating expenses exceed 65 per cent, is $2,000,000, Mercantile Trust Co. of N. Y. is trust ee ol mortgage. In August, 1889, interest was defaulted on the bonds and a. committhe Wisconsin CentraJ. pays not exceeding 212 per cent of tbis excess out of its 35 per cent, and will divide one half of any excess of operat- tee of bondholders appointed. See v. 49, p. 170.- (V. 47, p. 50; V. 49, p. 178, 236.) ing expenses above 6712 per cent of the gross earnings equally between the Wisconsin Ce ,tral and the NorthernPacrno companies. The North. CANALS. Pac., however, is not bound to pay its one•half of such excess, e:xo~pting Chesal)eake & Delaware.-Delaware City to Ohoaapeake City, Md, -0ut of futuri:i profits received under the contract with the Wisc. Central. :Besides the bonds in table there are Minn. transfer mort. notes, $70,- [n July, 1886, a heavy defalcation by the Treasurer and an over-issue .000; C. F. & W. 1st mort. 6s, $150,000; Penokee 1st mort. 5s, of bonds was discovered, amounting to $609,200, and in 1 886 the oom- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis as;::~~~~!~a INVESTORS' SUPPLEMENT. 148 (VOL. L. Subscribers will confer a great :favor by giving Immediate notice of any error discovered In these Tables. DESCRIPTION. For explanation of colUIDn headmgs, &o., see notes on :first page of t&.bles. Central ti South American Telegraph-Stock ..••.••.•••••. . Chicago Gas Trust-Stock ..•. ............................. • Chio. Gas Lig:ht & Coke, ls t mort., gold, guar .••..••.... c People's Gas Light & Coke, 1st mort., gold, guar . . ..... c 2dmort.gage. guar. ·.. .' ................... ............. c Equitable Gas Light & tu.el, 1st mort., guar ...•... , ••. o• Consumers' Gas, 1st mort., guar .•••...••...•..••..•.••. c Colorado Ooal <I Iron-Stock ..•...•...•.......•...•...•..•• . 1st consol. mort.• gold, accum., sink. fd. not drawn .. c· Col. CoBl & Iron Devt-lopm't Co. 1st M.,guar., red. at 10.:i Oolo1•ado .Fuel-Stoulr, for $5,000,000 .••.......•...•.... . Oolumbus ti Hocking Ooal <I Iron Oo.-Stook .........• . ..•. 1st M., g., (13,351 au's l 'd,min's & b'd'gs) s.f'd not drn. c• Oommerciat Oable- St ock, ($10,000,000) ..•..••.......••.. . Debentures (£480,000) payable ~4.0,(,00 per annum ..•. Comstock Tunnet-M.,income, non. cum., for $3,0001000.c• Otmsotidated Electric Liyht-Stock .. ••..••••••..••..••..••. INTEREST OR Date Size, or ___ _ _ _ __;_ _DIVIDENDS. __;__ _ _ _ _ IBonds-Prinoi• pal,When Due. of Par oui~~=g Rate per When Where Payable, and by Stocks-Last Bonde Value. Cent. Payable Whom. Dividend. ----•------ i887 1874 1874 1885 1886 isso 1889 i887 iss9 Debenture bond!>, sinking fund .......••..••.....•. .•• •.. c Consolidation Ooal of Maryland-Stock .••.•••.......•••••. 1st mort., consolidated, convertible into stock at par ... c is12 Consolidated Gas (N.Y.J-Stock .••...•..••..••.•..••....••. 1st mort., Metropolitan Gaslight Co _......... _.... -.... c* isR·l 1st mort, Knickerbocker Gaslight Co. sink. fund ..•.. c• 1878 Debentures for $3,000,000 ....................••.......•. r 1888 Deiroit Mack. ti Marquette Land Oo.- M.(inc.),red.at 100.r 1881 Edison Electric Illuminating Stock-. ...••.• ••..••..••.••. . E'Jfoi_!~:~ .~~.1:'!_~~~. ~~·.~!. ~~~..~~~.~~~~~~.~:: :::::: :: ::: . Certi1lcates or indebteuness, red. in 1891. .••...• . ....... i886 6old & Stock Tel.-Stock, rental guar. 6% 99yrs.W.Un.Tel. Bonds, not mortgage ...... ............................... (• lnternat'l Ocean Telegraph-Stock, 6 % 99 yr1,., W. Union _ $100 100 1,000 500 500 1,000 1,000 100 1,000 $4,006,600 25,000,000 7,650,000 2,100,000 2,500,000 2,000,000 3,8~2,000 10,000,000 3 ,499,000 Nil. ·ioo 4,195,000 100 4,700,000 1,000 1,000,000 100 6,716,000 2,337,600 500: &o. 2,139,000 100' 2,500,000 209.500 ·ioo 10,250,000 1,000 1,100,000 100 35,430,060 500 &c 658.000 1,000 610,000 1,500,000 1,000 1,000 4 ,021,000 100 2,500,000 100 4,000,000 1,000 1,000,000 1,000 750,000 100 5,000,000 500 500,000 100 3,000,000 Jl&ny retired its old bonds and issued $2,602,950 of new 5 per cent bonds maturing in 1916, thus covering the over•issue. (See V. 43, p. 867.) In the year ending May 31, 1889, gross receipts were $190,516 and net $143,340; surplus over interest, $13,192. (V. 47, p. 801.) Delaware Dlvlslon.-Leased to Lehip;b Coal & Navigation Co. a1 Interest on bonds and 4 percent a year on !lWCk (payable, Q.-F.' 29,729 shares have been converted into Lehigh Coal & Navigation stock, leaving only 2,938 shares unconverted. Interest on bonds is ~aranteed. · Lehigh Coal & Navlgatlon.-Owns caRal from Coalport to Easton, Penn., 48 miles, and leases Delaware Div. Canal, 60 miles. Also owns IR high & Susquehanna RR., Phillipsburg, N. J., to Union .June., Pa., 105 miles, with branches. 56 miles, and leases for 999 years N esque• honing Val. RR., 17 m., and Trescow RR .• 7 m..; also leases Wilkes barre & Scranton, - m.; but all these roads are leased for 999 years from 1871 to Central of N. J. RR., rental being 331a per cent of gross earnings, with a minimum rental o · $1,414.400. The Central RR. of N. J. assumed (in purchase or e9uipment) $2,310,000 of the ~old loan dut 1897, and the Lehigh & W1lkesbarre Coal Co. assumed $500,000 of the gold loan d.ue 1897 flJld $771,000 (all) of the convertible gold loan due 1894, additional to amounts in table above. The general mortgage of 1884 (trustee, Fidelity Ins. Co. of Phila.) covers, subject to vrior bonds, 7,460 acres coal land, 48 miles canal and 161 miles railroad, estimated in 1884 as together worth $25,278,000. Bonds are reEerved to retire all prior issues not assmred by other companie1,. In Oct., 18~9, there was a new issue of 10 per cent of the old stock m aile for rmprove• ments, & 1•. (See V. 49, p. E39.) DividendssincelE80havebeen: ·n 1881, 2 p.c.; in 1882, 4 ; in 188~, 612; inl884,6; in U:85,512; in 1886,4~; in1887,4;in 1888,412; 1n 1889, 5. Report for 1888 was in CHRONICLE, v. 48, p. 249. Receipts· 1886. 1887. 1888. From raiJroa-ds and Nesque. Tunnel..$1,464,381 $1,533,184 $1,804,783 Canals...... ..... .. . . . • . . . ... ........ ••. 48,225 50,248 43,201 Bet profit on Lehigh Coal.............. 135,104 148,452 358,968 Royalty on coal mined, &c........... 80,797 71,302 46,712 Total receipts ...••..••..••.••••.••. $1,728,507 $1,803,186 $2,253,664 Total disbursements .•••.••.•••...•... 1,108,486 1,131,510 l,18t,749 Balance of earnings................ $620,021 $89,419 Less sink. fd. of 10 p. o. p. ton on coal. Less deprec'n on coal, impr'v'm'ts, &o. Total........ ......... ••. .. ........ $671,676 $1,070,915 $61,597 $92,101 98.009 28 ~,002 ------- ---$89,419 $159,606 $374,103 Surplus for year ................. n , . . $530,602 Balance to credit of div'd fd. Jan. 1 .. 683,843 $512,070 $696,812 644,037 646,745 Total. ••••••..•••.••..••..••....... $t,il4,445 $1,156,107 $1,343,557 Dividends.............................. 5i0,408 509,362 576,866 Rate of dividend...................... 412 4 412 Ba.lancetocreditof div'dfundDec.31 $644,037 $646,745 $766,691 -(V.43, p. 634; V.44, p. 2'74; V. 45, p. 113; V, 46, p. 2&3; V.-48,p. 249; v. 49, p. 539.) 1'.lorrl ■ 0 -Leased April, 1871, to Lehigh Valley Railroad for 999 rears. The lessees assume bonds and scrip, and pay 10 per cent per annum on pref. stock and 4 per cent on consol. stock. rn 188 9 the Le· high Valley decided to cease operating the cana.l, which will probably be used for water supply. (See V. 48, p. 100, 159.) Penn ■ylvanla •. -Worked in interest or Pennsylvania RR., whi<'b guarantees interest on bonds and owns $3,517,150 stock and $469,000 68. Earnings in 1888, $326,960; net, $111,428; interest, $165,571; loss, $54,141. In 1887, gross, $300,072; net, $75,322; interest, $168,· ~71; deficit, $93,249 MIS~ELI... Al\EOUS. A.dams E:xpress.-No reports. American Bell Telephone Oo.-Dlvidends have been: In l.881, 6 per cent; in 1882, 11; in 1883, 12; in 1884, 15; from 1885 to 1887, inclusive, 16; in 1888, 18; in 1889, 18 (6 being extra in July); in 1890 to .Jan. 20, 3. There is to be issued $1,250,000 new stock in .April, 1890. The an• 11ual report for 1888 in CHRONICLE, V. 48, p. 427, had the tollowing: 1886. 1887. 1888. Gross earnings ................. $~,097,000 $3,453,028 $3,865,118 Total net income ............... $1,973,350 $2,237,834 $2,436,463 Dividend, regular.............. 1,176,252 1,l.76,252 1,192,152 Balance................... $797,098 Beserve foriustruments....... Reserve for general dept ..... . 117,754 Extra dividend ...............• $392,084 Surplus foryear .............. ,. $281,260 Total rnrplus Dec. 31. .•••..... $1,491,380 $1,061,582 f39Z,084 132,616 $1,244,311 $597,726 46,585 600,000 $536,656 $2,028,035 $2,028,035 -(V. 4.4, p. 433; V. 46, p. 412; V. 47, p. 593; V. 48, 42'7, 530,799; V. 49, p. 269, 341.) .A.mertean Ooal.-There are mortgage bonds for $200,000. The wrmua.l report for 1~88 ill v. 4~, p. 367, gave the following information: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- - - - --1~ 1 5 g. 6 g. 6 g• 6 g. 5 g. .6.g. Q.-.J. Q.-M. .J. & .J. M:. & N. .J. & D. J. & .J. J. & D 0 N. Y. Office, 37 Wall St. Chicago, Office. N.Y., Central Tr. Co. N.Y., Cent.Tr.I! Lond'n. do do N.Y., Oen.Tr.& Chic. Of. Chicago,Union Nat. Bk. 0 Chase Nat. .J. & .T. N. Y., Bank . J an~·i","1917 Q.-.J. New York, 1 Broadway. .Jan. 2, 1890 6 1890 to 1900 4 g. M. & S. New York. Sept. 1, 1919 1 Q.-J. N. Y. Company's Office. Jan. 1,1890 6 J. & J. N.Y.,Am,Exch. Nat.Bk 1892-95 2 ..•. N.Y.,Co.'s Office, 71 B'y Jan. 20, 1890 6 .J. & .J. do do Jan. 1, 1897 ~12 J. & D. N.Y., Office,4 Irving Pl. Dec. 15, 1889 6 F. & A. do do Aug. 1, 1901 6 J. & D. do do June 1, 1898 5 M. & N. do do May 1, 1908 7 A. & 0. . ........ . Oct. 1, 1911 1 Q.-F. N• Y. Office, 16 Broad st Feb. 1, 1890 2 Q.-J. N. Y. Office, 340 3d AV • .Tan.15,1890 6 F. ·& A. N. Y., Central Trust Co. Aug. 1, 1899 6 .J. & D. N.Y., Offille 340 3d Ave. June 1, 1896 Q.-.J. N. Y., West. Union Tel. Oct., 1889 112 6 M. & N. do do May 1, 1895 Q.-J. N. Y., West. Union Tel. .Jan., 18!l0 112 119 I .Jan. 4. 1890' Dec. 20, 1889' July 1, 1937 Nov. 1, 190! Dec. 1, 1904 July 1, 1905 .June 1, 1936 Income, 1888, $698,745; total expenses and interest to March, 18a9. $595,711; balance, $103,034, against $84,423 in 1888; dividends (6 per ,cent). $90,000; surplus, $13,034.-(V. 44, p. 2'74; V. 46, p. 253; v. 4tl, p. 367.) American Co Uo n OU Trust.-This is a "Trust" formed to con• trol a large proportion of the cotton seed oil mills of the United States. The Board of Management consists of nine trustees, of whom three are elected each year. The Trust is to be changed into a corporation, "The Alli. Cotton Oil Company," which is to issue $21,092,000 common stock ind $15,000,00u pref. 6 per cent non•cumulative stock, and holders of each $100 share cerlifl.ci),te will take 50 per cent thereof in the new common and 2~ per cent in the new pref. (Bee V. 49, p. 615.) For the 15 m onths ending Aug. 31, 1889, the net earnings were $1,655,788. . 'Ihe report was giv en in V. 49, p. 579 and 615, and the committee's r1 port, eto. No balance sheet has been published. N. Y. Office, · 4.5 Broadway, N. Y.-·(V. 45, p. 25,538,564,696; V. 46, p. 829; V. 47, p. l::i9; v. 48, p. 854; v. 49, p."433, 53?, 578, 615, 653, 689, 760.) A1nerican E:xprcss.-Dlvider..ds of 6 per cent yearly have been paid since 1879. American Telegraph & Cable Oo.-Owns two cables between Ben:non Cove, En~land, and Dover Bay, Nova Scotia. Cables leased toWestern Union ti!l 1932, with a guaranty of 5 per cent per annum on the stock issued- $14,000,000. Cahaba Coal lUining .-Owns 25,605 acres of coal and iron landsIn Bibb, Shelby and Jefferson counties, Alabama, with six mines in operation; also 16 miles of standard gauge railroad, fully equipped, connecting its mines and mining- town B locton with the Al. Gt. So. and Loui1,. & :Nash. RR. The application to the Stock Exchangefor the listing of the above rncurities was given in full in CHRONICLE, V. 47,p. 441. Ca1neron Iron & Coal Co.-This company was organized in 1886 The lands and prope1ty are near Emporium, Pa., and formerly b (:-longed, to the Cameron Coa l Co. Stock $3,000,000; par $100. In Dec., 1889, default having been m a de on interest payments, Mr. E. M. Parrott waeappointf d receiver. (V. 49, p. 760, 824.) · Uanton (.llnp1·ovement) Company (Balt.)-The ca11ital stock by changes made subsequent to the original issue, became prao tioally only $16 25 par ser share, and was reduced by purchase, and cancellation to 44,30 •hares. The Union RR. sinlnng fund of $918,_703 remains the property of CaDton Co., and is held by the trus• tees till bonds have teen paid off at maturity. Tn J an. , 1890, all debtshaving been paid off, ttere was $75,000 devoted to purohaee 1.,f stock. - (V. 47, p. 20; V. 48, p. 687,799; V. 49, p. 824; V. 50, p. 71.) Central & South Am. Telegraph.-Linefrom Vera Cruz, Mexico, to Chorrillos, Peru, with branches, 3,100 miles of cable and 335 miles or land lines. Completed November, 1882. Connects at Lima with West Coast Tel. Co. of Amer ica, having 1,700 miles of cable to Valparaiso .. a.nd at Vera Cruz with Mexican Telegraph Co. Stock to be increased to $4,807,920. New cable from Galveston to Coatzacoales was laid in 1888. The cost to this c, mpany, about $00,000, lleing out of surplus earnin/,\'li!In 1.889 gross earnings, partly estimated. were $ 683,043; net, $542,301. agamst $4.03,707 in 1888. James A. ScrYII18er, President, New York~ - (V . 44, p. 2'74; V. 46, p. 804; V. 47, p. 801.) Chfca~o Gas ·.rrust.-This company was incorporated in 1887to acquire control of gas properties in Chicago. In November, 188 • the Supreme Court or I_llino_is, reversing a previous deci ;ion, declared the Trust illegal, and 1t will probably be r eorgan 'zed on some diff.;rent basis. See V. 4P, p. 718. It owns $14,887,62,) of tee $14,984 200 stock tf the com t anies whose bonds, guaranteed p1indpa l and mte'rest b~ the Tr~st, ~re given in the table abov e, and this stock is deposited with the .I! idellty Trust & Safe Deposit Co. of Phila. as secm-ity for theguarantee. Through its nter est in said companies it also contruls all but $15,800 or the $1,7f- O,OOO stock or four smaller companies which have <>utstanding the 1ollowing bonds: Lake Gas Co., $300,000 let mort_ €s; Hyde Park Gas Co., $200,000 1st mort. 6s; and Ill. Light Heat and Power Co , $200,000 1st mort. 7s, these last are guaranteed by the· People's Co., b ot not by the Trust. In 1887 the eight companies sold 2,660,236 thousand cubic !eet of gas; their gross receipts were $3,228,480, ~d net receipts, $1,::-84,161; fixed charges, $1,035,100. In 1888· the tight companies sold 2,665,743 thousand cubic feet gas and the gross receipts were $3,437,395; net, $1,896,652: su1 plus over fixed charges, $ ~61, 552. See application in full to N. Y. Stock Exchange !or listing the above rncurlties in CHRONICLE, V. 4 7, p. 746. (V. 48, p. 686; v. 49, p. 616. 718.) Colorado Coal & Iron.-< See Map.J-This company, with headquarters at Colorado Springs, Col., is a large owner of coal and Iron property and of la11d and town sites around South Pueblo. Stock is non-aese.smble. The Development Co.'s bonds (guaranteed) cover rea\ estate in Pueblo, Col. No bonds lesued to .Jan. 22, 1890. Proceeds will be used in developing the mining p1opel'ty. An abstract of the report of 1888 was in V. 48, p. 398. EARNINGS AND EXPENSES, , - - - 1 8 8 7 . - - . ,--1888. - Gross Net Gross Net Earnings. Earnings. Earning@. Earnings. Coal & co'li:e department. $1,391,057 $323,5::i l $1,316,917 :i,211,oi!S.: lron and steel dep't ..••• l,3!.>2,149 209,174 790,528 loss 5,834 Realestate dep't......... 29,143 9,350 29,192 12,239 Miscellaneous earn'gs.... 6,527 6,!126 75,984 75,984- ____ Total.. ................ $2,818,876 $548,581 $2,212,e23 $293,92~ JANUARY, 1890.J :MISCELLANEOUS STOCKS AND BONDS. 1-19 Subscribers will confer a great f'avor by giving lnunedlate notice of' any error discovered In these Tables. Bonas -PrinoiDESCRIPTION. INTEREST OR DIIVDENDS. Date Size, or pal,When Due... Amount For explanation of column headings, &c., see notes on of Par When Where Payable, and by Stocks-Last Rate r,er first page of tables. Bonds Value. Ou.t standing Cen. Payable Whom. Dividend. Iron Steamboat Oompany-Stock .••••• _•.•••.••..•••.•••••• . Bonds ... _. . . . . • • . . • .. . • . . . . . . • . . .. .. ...•... _...•.....•... c Laclede Gas Light-1st mort., for $10,000,000, gold .... A" Lehigh IA Wilkesbarre Ooat-Leb.C'oal &Nav.M.i,assumed do do Mort. convert., gol , assumed Sterling loan, sinking fund, drawn at 100 ............... c Consol. mort. ($6,116,000 income held by Cent. N . J.) .. c Sundry real estate mortgages ...........•.....•....•..... c 5s of 1912, cumulative sinking fund (not drawn) ... •.. c Income" B" b onds not cum. held by Cent. N. J ... _.. ... Maryland, Ooal--Stock, last dividend paid in 1876 ......... 1st m., drawn at 100 (sink. f'd has retired $105,000) .. c• M~enLd. Gr.-Pr'rlienbds,g.,red.atlOO(orllOatmat.)c Metropolitan Tel. <f:Teleg. Oo.-lat M.,g.,s.f. ·(notdr'n) . . c&r issi 1889 1Ab7 1869 1874 1875 isss ... .. ··-· is8s 1888 ---· Mwican Telegraph-Stock .••..••.••••.•••..•.•• _•.•••.•••. .. Ne:w Oentral Ooot-Stock .................................... :Yew Eng. Ter.~ -lstM., $800,000, g., s. f., drawn at 11 O.. c. 1889 N. Y. Mutu,al Tel.-lst m., g., gu.by W.U.,s.f.,l p.c.notJ'n.c 1881 New York <f: Perry Ooal <f: Iron Oo.-Stock .• - ....••.....••. Tllew York& Texas Land rLimited)-Stock .•••....•.•. - ..... Northwest Eqitipmenl-Stock .• ••••..•...•. ········ ·-- · ...••• ...... Northwestern Tel.-Stock, 4 rising to 6p. c., guar. West. Un. .... .... 1st mort., sink. fund, bonds not drawn, interest gua.r.. c* Oregonimprovement Oo.-Stock, common . ..... ·-·········· is14 ---· isso --· isss Preferred stock, 7per cent, non-cumulative . ......... ... 1st M., g., s.f.1 p.c.y'rly, red. at 100, if not purch.at 106.c Consol. mortgage for $15,<.00,000 ...••..•...•.. ··-···-·c• 1889 Paciti,c Mail Steam.snip-Stock ....•... - ••...•.••••.. _••••... . Penmvtvania Ooai-stock ...........•.............•..••..•.. .... PhilaiklJ;/ia Oompany-(Natural Gas) Stock ..•..•••...... 1st M. or $2,500,000, e.fd. $250,000 y'rl y, not dr'n ... c* Char.V.Gas, 1st M. ,$1,000,000, ser. A B&C.,red. at lCO,g.r 1889 Postal Teleg1·aph Oable Oo.-Stock ........•.................. ...... I -$100 500 100 &o. 500 &c. 500 &c. £200 1,000 1:C>oo "ioo 1,000 500 1,000 100 100 1,000 1,000 100 50 100 50 500 100 100 1,000 1,000 100 50 50 1,000 1,000 . --- I ·- -- --- $2,000,000 2 N. Y. Company's office. Nov. 1, 188 500,000 6 J. ·&-·J. N. Y .. First Nat. B ank. July l, 190:tl 9,456,000 5 g. Q.-F. New York & S t. L-mis. May 1,191 500,000 6 g. J. & D. .Phil.,Leh.Coal&Nav Co D~c. 15, 1897"" 673,000 do d9 . 6 g. M. & S. Sept. 1, 18941 1,346,000 6 M.&N. New York & London. May 1, 1899" 11,500,000 7 Q.-M. do do June 1, J 90(> 632.358 6 do do M_-&·N. N ov:-i·,--i912:2,887,000 5 do do 2,353,000 . ......... .iig Jan.'i",·-is7& 4,400,000 . ....... .. M.·&·N'. N. Y., 35 Broadway. H5,000 7 Nov. 1, 19062, 500,0t,O 6 g. J. & J. N.Y. Lond.&Amst'dam. J Hn. 1, 191:J;.. 2,000,000 5 g. M. &N. N. Y ., 18 Cortlandt St. May 1, 191S 1,4.34,400 Q.-J. N. Y. Office, 37 Wall St. Jan. 11. 189~ 2¼ 5,000.000 1 ~ew York Office. Apr. .10, 188&. 700,0uO 5 g. F.& A. N.Y.,Farmers' L.&Tr.Co Feb. 1, 1909> 1 ,978,000 6 g. M.&N. N. Y .• West. UnioR Tel. M.ay 1, 191b 3,000,000 1 N. Y., 52 Broadway. . .... Feb. l 0, 1888 1,500,000 (1) N. Y.,J.8 Wetmore2 Wall 1889' 3,000,000 1½&84ex Q:.:.::.r. N. Y. Otli ce, 36 Wall St Feb.l, 189 2,500,000 25s J. & J. N. Y. Westi. Un. Tel. Co. Jan, 1, 1890,. 1 ,180,000 J. & J. do 7 do Jan. I, 190.C 7,000,000 1 N. Y., Mills Building. Nov. 1, 188~ M_-&·s: 2,000,000 do do Sept. 2, 188~ 3¼ 5,000,000 6 g. J. & D . do do Dec. 1, 1910 (1 I 5 A. & 0. Oct. 1, 1939 do do 20,000,000 1 . ............ Sept. 15, 1887 5,000,000 Q:..:.:F. N. Y., 1 Broadway. t-·eb. 1, 1890 4 7,500,000 2 Q.-J. Pittsburg, 820 Penn Av. Jan.16, 18901,500,000 6 J. &D. N. Y. (Jity , Mere. lr. Cr. Dec. 1, 1898> (1) 6 g. Q11ar. Philadelphia. 1889-94 5,000,000 ...... ...... -... - ..... . .. . -·. - .... 0 m -· INCOME .ACCOUNT, Detroit Mackinac & Marquette Land Grant Bonds.-Own&. 1888. ahout 1,300,uou a.0res of laud in Norttlern Michigan, a.Ion~ the line o.r 1886. 1887. Net earnings. ·-·······--····· ..•..••..••. $333,611 $548,581 $29.3,9'.!2 theD. M. & M. RR., wh1chroad was soldinfo: eclosureOct,. 20, 1886. Th 6,226 land grant bonds retained their lien upon the lands covered by their.Add income from investments, &c .• _,._ 8,650 4,433 _ _ _ mortgc:1,1?:e, The bo · dholders received a bonus of 35 per cent in comr$300,14!l mo 11 stock of the Duluth South Shore & Atlantic RR. Co. in March.,. Total.--··-····-···-···-··--·········· $342,261 $553.014 Less interest on bonds .• -. ·-···-···· ... $209,940 $209,940 $209,940 1888. Lands are free from taxation till 1895. Jas; McMillan, Detroit» 15,707 President.-(V. 46, p. 320, 573.) Less premiume, &c........ .. . ........ .. 780 Edison Elect1·ic Illumlnatlng. -Listed on New ·York' Stock $209,940 $210,720 $225,647 Bnrphl.8 •••••••••••• _, •••••• --······-·· $13~,321 $ ~42,294 $74,502 Excuangt:i May, 1 ... 89. There are $,ho,000 bonds. It is proposed to. Jn the real estate department tlie earnings are wholly from rentals of increa:ie the stock to $4,500,000 and to issue mortgaite bonds. Divlhouses, lands, &c., containing no Teceipts from land sales. The receipts tlends in 1889, 4 per cent. Spencer Trask, Presid ent. (V. 50, p. 71.) from land sales in 1888 v. ere $128,341. against $26,610 in 1887. E. J. Equitable Gas Light Co. of Ne,v York.-Incorporated Marchi Berwind, Pres'L. 01fice in N. Y., 35 Wall st. (V. 44, p. t00; V. 46, p. 9, 1 -.8:l. Owns tllree btot ks bttween 39th and 42d St~., Firdt Ave. and 886; v. 48, p. 189, 398, 4.62; v. 4.9, p. 690, 824.) East River; also 32 lots between 58th and 59th Sts. and 10th and lltbi Colorado Fuel.-This company control& 16,156 acres of coal lands Avt1nues, and four lots sout,hea.st corn~r llr.h avenue and 59th street. in different parts of Colorac o, 14.880 acres being owned. 720 a cres Total assets, Jan. 1, 1889, $6,185,870, includin~ mains about 114 mile~ leased and 556 acres parti~lly paid for under contract for purchase. gas works valued at $2,50L,952, r eal estate at $1,190,922. In 1888..~ Total capacity of mines i,ut at 6,000 tons of toal and 150 tons coke $1,000,000 new stock was isbued. (V. 48, p. 129.) per day. For statement to New Yorlr Stock Exchange see CH1<0NICLE, Gold & Stock Telegraph Co.-Operated by West. U. T. Co. bJ conV. 4.9, p. 864. There are f300,000 ,general mortgage bonds outstanding, pa.rt of an authorized issue of $1,200,000, the 1emainder of which tract for 99 yearsfromJan. l,'82, at6p. c. perannumonstockandbondsInternatlonal Ocean Telearaph Co.-The Western Union Co .. can be issued only for additicnal property. From Jnly 1 ,o Oct. 31, 1889 (4 months), net earnings were $ll2,421. J. C. Osgotd, Pre~i- operates the line oy contract for g'9 years from Jan. 1, 1882, paying ~ per cent per year on stock, of which it owns $1,623,100. dent. New York office, 18 B1oadway. (V. 4.9, p. 857, 864.) Iron Steamboat Co.-Property consists of seven iron steamboats. ColuDlbus & Hocking Coal & Iron Co.-Or,ganized at Columbus, 0., Jan. 26, 1883. The coOJpany owns large coal and iron Dividends Rince 1880: In 1881, 5 per cent; in 1882 to 1884 inclusive~ nil: in 1885 and 1886. 3; in 1887, 2½!; in 1,,88, nil; m 1889, 2. In year properties, witb extensive works thereon, in Ohio, and a full description of theee was published in the CHRONICLE of Feb. 26, 1887, v. 44, p 278. en ding Sept. !.{0, 1889, gross receip ts were $32'>,185; net, $t5,420;;: The Centra l Trust 'Jo. of N. Y. is trustee of t h e mortgage. After May 1, rnrplus over interes~, $37,130, against $1,'10.2 in 1887-58. (V. 4j, p. 1888, two cents on P verv ton of coal from t!le mortizaged premises goes 642; v. 47, p. 555.) to a sinking fund; bonds tendered may be purchased at not above 105. Lacle<le Gas Llght.-TMs S r. Louis company was incorporated iDCar trust notes March 31, 188 9, $154,44.0. [tis proposed to issue 1857; iu 1881) it oame into control of au the uthet· gas companies in St$1,000,000 6 per cent accumulative preferred stuck, stoc Kholders to be Loui8, through own.-rship of $1,555,035 of their :t;l,~50,0uO stock. Thi& allowed to take at 80 12 per ceut of their previous holdings. In fiscal stock a nd al ,o $711, 187 bunds am deposited with th..iCentira,l 'rruat Co.,. year ending March 31, 1888, gross earnings were $1,046.333; net, t, u st ee under the mortga~e. The s toi:k of the Laclede Co. is 1},7 ,500.000$191,912; surplu.. over interest and improvements, $110,1_96. In common aud $2,481,000 prefer red (5 pe< ot!nt cumnlatlve.), both iih 1888-9 gross earnings, $1.1 55,8<12; net, $109,774; surplus over mterest. $100 shar es. In 1888 rectipts of all the companies were $1,413,999;. ta.xes and improvement, $26,205. New York office, 45 Broadw~y. (V. nt-t earnings, $611.855; interest charge is now about $500,000. (See,. 46, p. 1,2, 573, 737; v. 50, p. 37.) application to .New York Stock Exchange in 1ull in CnRO!UCLE, V. 49'.. CoD1D1ercial Cable Co.-Tbis is popularly known as the Macka.r, p. o5'7; v. 50, p. 71.) Bennett Cable Compa11y, owning two cables from Nova Scotia to IreLehigh & WIJkesbarre Coal.-Tbis company is controlled by tb& land; one from Ireland to Havre, France; one from lreland to Bristol, Central .RR. of New Jerseythrou~ll ownership of a majority or the stoc England; also one from Nova Scotia to New York, and one to Rock- also $6,116,000 of the consol. mortigage bonds and $2,353,000 of the, port, Mas:1., etc. In September, 1887, the stock was ra1~ed to income bonds. Stock is $9,~25,uOO; past due coupons of consols hel<ll $6,000,000, and in October, 1888, to $10,000,000. of which sufficient by Central N. J ., $3,20t,987. A s inking fund for the redt1mption a is. is reserved to redeem tbe debenturee, &c. Dividtnds: In 18~9, l½i; maturi1y or the Lonas due 1912 is provided from sales of <1urfi:1.Ct1 lands> 1n Jan., 1890, 1½. In 1889 gros~ earninJ?s (partly estimated) were aud from payment of 10 cents for each ton of coal mined on prope.rty:$1,789,387; net, $1,089,379; interest, $140,25ti; sink. fund, $200,ouo; lncludea in the first lien. surplus, $74!>,123. In 1888, gross receipts, $1,189,195; net. ~638.1::!5; The annnal rt>porti for 1888 was in V. 48, p. 290, and showed total reinterest, $274,200; debenturfs paid, $2u0,000; surplus, $16J,93'1. Mr. ceipts, $9,950,636; net over operatinp: expenses, $1,986,522; inter es -· J. W. Mackay, President; Mr. A. B. Chandler, 2d Vice-President. and sinking fuLds, $1,040,678.-(V. 46, p. 227,537; V. 47, p. 21, 108,.. -(V. 49, p. 403; V. 50, p. 71.) 2.!.7, 3::>3, 472, 49~; v. 4.8, p. 290. 562, 800.) C oD1stockTunnel.-Tunnel on Comstock Lode for facilltatin~ min• Maryland Coal Co.- C,introls 6,000 acres of land in Allegany and: Ing operations. Formerly the Sutro Tunnel, whic>h was foreclose1 Jan, Garretti counties. M:d. In 1888 produced 340,d66 tons of coal, an in14, 1889, and this company formed in September, l!:l89, with 2.000.- crease of 24,348 over 1887. In 1888 net tarnings over expense 000 shares of $2 each, making $4,000,000 lapital, against $20,000,000 of the old Sutro TunLel Corul)any. The interest charge of reori:tanized and taxes were $68,188. Maxwell Land G:rant Co.-Owne 1.700,000 acres 1n Colo.rad°"" company on bonds is $85,560 per annum. A suit was begun in Oct., 1890, against the parties conducting tbe reorganization. Preeident's and New Mexico containing coal, timber and land tit for iirazin statement of company's condition and prospects was in V. 5et, p. a7. and agricultural purposes. (See map in SUPPLEMENT of Mare 'Ihe average rectipts during three years endmg Sept. 1, l 889, were and i,rior i ·sues.) The estate is traversed by the Atchison Topek $276,915 per year, and average expenses of operating- $83,:rn7 per year. & Santa Fe Railroa,i from north to south, and tihe D enver &:;. Forr. Worth Railroad. Thi, prior lien bonds at-e a11 t,horized tor-(V. 4t-, p. luO, 128,463,527; V. 49, p. 178, -171, 5e0; V. 50, p. 37.) payable at l IO at maturity, or redeemable at .Pal' fro Consolidated Electric Llght.-For statement made to N. Y. $8,000,000, proceeds or land sales. The income mort. (£1,000,000) bonds are deStock Exchange OR listing stock, Ste CHRONICLE, v. 48, p. 428. (V. 48. posited as collatcri:1.l <1ecurhy for the 1st mort. bond3. Stock, £950,000. p, 420, 42e; V. 49, p. 434.) 'l'he management of the propert.y, until the date when alt prior lielbi Consolidated Gas of' Ne-w- York.-Tbis company was organize<l bonds will be paid <,ff, is placed i u the b.ands of a b .. ard of trustee!l. I Nov. 11, 1884, under chapter 367, laws of New York, 1884. The com- 1888 lar;.d sales 24,959 acre!', for $122,973. In '89 to Nov. 1 salts 27,- vanies merged in it were the New York Gaslight, the Municipal Gas- 696 acres, for about $181 U7d. Assets in land and cattle ef.timated at. llght,the Metropolitan Gaslight, the Manhattan Gaslight, 1he Knicker- $14,020,000. Pres't Board of Trustees, R. V. Martinsen, 46 B'way, N.Ybocker Gaslight and the Harlem Gaslight. The total stock was $39,· See advertisement in CHRONICLE of March 3, 1888. (V, 48, p. 159.) 078,000, of which $3,647,940 wa~ reserved for working capital and Metropolitan 'I elephone & Telegrarh Co.-This company for indebtedness of old companies. (V. 46, p. 418, 537.) has exclusive telephont:i rights u,, der the He! patents for the city andi Consolidation Coal.-Annual report !or 1888 was in V. 48, p. 221 eounty ot New York, its &tock being controlled by the Am. Bell TeleThe gross receipts from mines, railroads, rents, 1887. 1888. phone Co. .After 18: 9 there VI ill 1.Je a sinking fund of 011e p. ct. to pur&c. (incl'g value of st'ck of coal on hand), were.$2,373,083 $2,709,234 chase bo1.ds, if possiole, at 110, otherwise to be iuvested mother securities. TruRtee of mort. is Mer. Tr. Co. W . Un. ·.reL Co. owns $d00,000 of' Net receipts.--··.-· .•••. ·-· ..... -·· .. ·-·...... $423,829 $4d2, t18 tbe $2,00l•,OOO (par $100) stiock, on which 2¼ per cent is p~ld q11arThe int. and sink. fd. in 1888 took ifl90,929; balance, surplus, $291,188: tedy (Q.-J.) B. & 0. RR. owns $3,810,000 stock. Mexican Telegraph.-Company or~anized in 1878 under)aws oi" This company guarantees also 2d mortg. bonds of the Cumberland & Pennsylvania RR .. which it owns, and assumes $55,000 of the Union ~ew York State. Has a cable from Galvestion to Tampico and Vera.., Cruz, 733 miles; land line, Vera Cruz to Mexico City, :l67 mile&». Mining Co.'s bonds. Total bonded debt on lanas and railroads is $2,258,500. Dividends si11ce 1880 have been: For 1881, 2 per cent; for Has exclusive right for 50 years for all foreign telegrams to Mexico~ ex::cept telegrams to and from a neutral zone on the United Sta.tee 1882 and 1883, nil; for 18ti4 and 1885, 1; for 1886. 34; for 1887. l½i, :tor 1see, 214; for 1889, 2. cv. 44, p. 210; v, 46, p. 253; 48, p. 221 .}. border 156 miles wide, between the Gulf and Pacific Ocean. Stock to b& https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis v. N ' o·t . \_ __ -- eoULD MARS j--.~ILP-- R F 0 E Truro ! _____ _J_ 0 i i T E ' i s¾>111. ... Ii i t i PROPERTY OF THE i.v -~ . , i r:--- I i , P:P+i:l+@i:::!n REAL ESTATE 111111111111111[ I IRON_______ I ,/ · J _1...__ c1.,,.,. _,,,..,,,-· \ ·----,-- . ____ .....__.,...._ I < "'{" •\ o La Grita 0) ~ ---•--- Gardner j j p ''-l I s~ NE er s \ 0 __ _j I B \. -......, s1 o u .P -~pnn 1-..... iH U ER F , ~. !I RIO - ·-- __ _i___ COAL __~ ----- - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Beltord u A-N -------~. . 0 A \ SILVERfON /S j o LakeOity~ \ /~ COLORADO COAL & IRON CQy· I j qoc . -----------l 1· :) ; I ero ' Barnnmo ·- A SUMMIT PEA A ET A\J I i 0 s I < i -i Sanpedro < ~ i ____________ .• _.._._ JANUARY, 1890.] MISOELLANEOU~ STOOKS AND BONDS. Subscribers will conCer a great Cavor by giving Immediate notice of' any error discovered In these Table8. DESCRIPTION. INTEREST OR DIVIDENDS. Bonds-Prinl't Date Size, or Amount - - - - - - - - - - - - - - - - - 1pal,When Due For explanation of column headings, &c., see notes on first of Par Outstanding Racteentp.ei When Where P ayable, and by Stocks-Last.. page of tables. Bonds Value. Payable Whom. Dividend ------------------------1 ---· - - - ------ - - - - - - ---------- - -----Poughkeepsie Bridge.-lst mort., gold, for $5,000,000 ... c~ 1886 Pullman Palace Oar-Stock .......... . ...........••......•.. Bonds, 4th series .•..•.•.......•...••...•........•••..•..•.. Quicksilver Mining-Common stock .....••...•..••...•..••. Preferred 7 per cent stock, not cumulative .....•.......•. Southern d! Atlantic Telegraph-Stock (guar. 5 per cent.) .. Southe1·n Cotton Oil-Stock ..•...•..••..••..•••.••..••.•••••. is12 Mortgage bonds, income, 7 per cent, series "B" .•••.••.. o Plain income bonds, 6 per cent .••...•...•...••...•...... <' Sterling Mountain R'y.- lst mort. income, 7 ct., guar. Tenn. Goal I. d! RR. Oo.-Stock, ($1,000,0CO ls p . 8 % cum.) Pratt Coal & Iron Co., Ala., 1st mort., s. f., not dr'n .••. c* Allee Furnace Co., Ala., 1st bonds ..•....•••..••.•••.••. c~ Birm'm, Ala., Div., cons. M., g. s. f. 1 p. c. not drawn .. c* Tennessee Div. bonds, p;old, s.f. l¼ p . c. yearly,notdr'n.c* isso Sterling Iron d! Railway.-StocJr .•..•••.••••.•••.••••••••••. f.' Terminal RR. Association ••.••••.••.••••..•..••..••..•••.••. St. L. B'dge & & T. RR.-lst pf.st'k,gu.Mo. Pac.and Wab. .... .... ---· ..... 1876 1881 i883 1882 1887 1887 .... ---· 2d preferred stock, guar .••...•...•.....••.••..•••..•••... lsti mortgage, St. L. Bridge & Tunnel Co ..•.••••••••••.••. Tunnel RR. of Bt. Louis, stock, guar .•••••••...•••••••.••. Con8ol. M. for $7,000,iJOO ............••..•.•••..••..•• . ..•. Tezas Pac. Land t'rust.-·'Certifl.cates of proprietary int." United Lines Teleg'ph,- lst m. (subj. to old lien of $290,000) issi> 2d mortgage (for $3,600,000) ..•..••....••..••..••..••.... lb85 United States E~ress-Stock .................••• , •••.••..••. Wells, .Fargo ct ompany Express-Stock .................... isfa .... .... .... ---- $1,000 $5,000,000 6 g. F, &A. N. Y. City, Mero. Tr. Co. Aug. 1, 1936. 100 25,000,000 2 Q.-F. N. Y., Farm L. & T. Co. Feb. 15, 189 0 1,000 820,000 A.. & 0. 8 do do Aug.15,189 ~ 100 5,708,700 400. . ... May, 1882 100 4,291,300 112 N'. Y. ,Offlce,20N assau~t. F eb. 3, 189 0 25 948,875 219 A.. ·&·o. N.Y., West. Union Tel. Oct., 1889 100 4,000,000 Semi-an Philadelphia, Office. 4 June 15,188 9 50 2,300,000 500 &c. 418,000 "T Fei>:·1 N.Y.Office 4.5 William st Aprii.i;°is9 1,000 495,575 ..... Oct. 1, 1896 Fei>:·1 N.Y.Offlce 1,, William st July7, 1895. 1,000 475,674 1 100 10,000,000 •4onpfd. J. & J. N. Y., 4th Nat. Bank. Jan. 1890 1,000 715,000 M. & N. N.Y.Mechanics'Nat.Bk. Nov.1,1903 7 1,000 300,000 A. &O. do 7 do 1892 to 19(¥Al ' 1,000 3,460,000 6 g. J. & J . do do Jan. 1, 191't_ 1,000 1,400,000 6 g. A. & O. Jan. 1, 1917 do do • ·100 100 1,000 ---· ·ioo 1,000 1,000 100 100 2:490,000 3,000,000 5,000,000 1,250,000 8;1iff,731 1,200,000 (1) 10,000,000 6,250,000 ··:r .&. ·is•s~ J, J. N. Y., Drexei; M. & Co. Jui;: July, 1889 do do l¼ J. & J. A.. & o. New York and London. April 1, 192 8 g. J. & J. N. Y., Drexel, M. & Co. July 1, 188 s. 4½3 . ... . i ..6. 3,4,5 l¼ 4 . ... . ... ....... ·········· July·i·,--i91 5,, No coupons raid . 1915 do do M:&-·N. N. Y., Office, 49 B'way. ~ov. l!J, 188 9 J, & J, N. Y .. Office, 63 B'way. Jan. l&,189 Q, increased to $2,000,000. Company owns 1,362 aha.res of the Central EARNINGS, & South American Telegraph Co. Gross earnir gs (Partly estimated) in 1888~8~L 1887-88, 1886-87. 1869 $370,102, net $298,675; against $253,fi78 in 1888, J. A. Scrym- A tlantlc Line .••.••••.••••••...••.••• $766,0SO $777,435 $807,0ll ser, Prest.. New York. (V. 47, r, 801; V. 50,p. 71.) Pdonama Lines ..•.••••...•••••••.••. 1,368,882 1,778,275 2,006,894. Trans-Pacific Line ..••.....•...•.... 1,282,317 1,334,384 1,20\,580 New Ce~tral Coal (1'.ld,)-T:he annual report for 1888, in V. 4_8 , p. Cent. Am. and Mexican subsidies .. 101,334: 100,267 101,633 221, showed net protits for year of $29,697; and balance to credit of fnterest and divs. on investments. 32,138. 70,904 16,712 profit and loss Dec. 31, 1888, of $216,417, ap;ainst $2U,353 Dec. 31 , Miscellaneous ....•.....••..••..••••• 4?,743 43,85! 40,532 1887. Dividends since 1880 have JJeen: In 1881, 2 per cPnt; in 1882 and 1883, nil; in lf:84, 1; in 1885, 11il; from 1886 to 1888, incl., 1 per Total ••• ·--· .•••.•••.•••.••..••. $3.633.371 $4,078,547 $4,161,057 cent yearly. (V. 46, p. 110; V. 48, p. 221. Expenses ..•••••.•••.••..••..••..••. 3,337,833 3,638,llO 3,666,162 ---. Net earnings.................... $295,533 $440,428 $494,895 New Eno-land '.I'erlllinal Co,-A transportation line from WilNo balance sheet is given in tihe :1nnual report. Geo •.J. Gould, Presison's Point, Bridgeport or other points on Long Island Sound to New York. The mortgage covers all the property of the ('o., including real dent. (V. 47, p. 626; V. 48, p. 727; V. 49, p. 207, 341.) estate and dock property in. New York. The N. Y. & N. England and the Pennsylvania Coal,-Dividends since 1880 prior to current yearHousatonic RR. by endorsement guarantee interest and the payment of $15,000 annually from 1890 to 1899, incl., for sinking fund, and $48,000 have been: In 1881, 15 per cent; in 1882 and since, at rate of 16 percent yearly. 1900 to 1909, inclusive. Stock, $200,000; par, $100, Philadelphia 0ompany.-In 1887 the Chartiers CompanyNew York 1'.lntual Telegraph.-The Mutual Union Telegraph was leased for ninety-nine years at a rental of 21·7 per cent of Co. organization was changed to the New York Mutual Tel. Co. and the Philadelph.J.a company's net earnings monthly. The Phlladelphia comstock was reduced to il2,500,000, carrying dividends of 6 per cel!t per pany controls a large share of the natural gas production about :Pittsannum, under a lease for 99 years from Feb. lJ, 1883 to Western Union burg and vicinity, owning or lea.sing a larg" quantity 0f gas territory Telegraph. A sinking fund of $50,000 yearly purchases bonds, if pos- and 706 miles of pipe3. The 1st mor tgage of 1888 (Tr. Mere. Tr. Co.). sible, at 110; otherwit;e is invested. The Western Union offered its col• covers its whole property, gas lantl s, l eases, wells. pipes, &c. In year lateral trust bonds in exchange at par for the above stock and bonds, ending March 31, 1889, gross earnings were $2,756,217; net. $1,0a9, . and over $3,000,000 had bten exchanged by Nov. 15, '89. (V. 47, p. 81.l 923; surplus over dividends (12 per cent) $159,923. Geo. We~tinghouse, Jr., Pres., Pittsburg. (V, 47, p. 473,709; V. 48, p. 687; V. 49, p . 6 L7.), N. Y. & Perry Coal & Iron Co.-Owns 730 acres, controls 800 Postal Telegraph & Cable,-This company is succe-1sor to the acres ano leases 4-30 acres of coal and iron land in Hockin~ Valley region at Slrnwnee, Perry Co., Ohio. H as five coal mines and two blast Postal Telegraph Co. and Postal Tel. & Cable Co. The old bonds t ook newstock for 35 per cent of their face, and the old stock 5 per cent of its furnaces, The assets, as per balance sheet on Dee-. 1, 1888, wern $3,· 5ll ,059. For full exhibit see CHRON[CLE, V. 48, p. 39. In 1887 paid amount in new. F"reclosure suit begun by Farmers' Loan & Trust. . 1885, and sale took place Jan. 15, 1886. A. B. Chandler. Co. Nov., 4¼percent; in 188d, 1 percent. (V. 48, p. 39.) Office, 52 B'way, N. Y P1·e~ident, New York. (V, 43, p. 125; V. 48, p. 530H New Yol'k & Texas Land-This company took the lands granted Poughkeepsie Bridge Co.-Owns a railroad bridge across the, to the Internat'l and Hous. & Great North'n railroads, about 5.000,000 Hud~on River at Poughkeepsie, with approaches, 312 milPS; comacres. On June 30, 1888, had 2.287,497 acres unsold. The1e is pleted in Dee., 1888. Is operated by _Central N. E . & Western, form$980,000 of lan d scrip receival>le .l'or lands at 75 per cent of its faee. ingtbrou~lr l in e from Campbell Hall, N. Y., to Hartford, Conn. ID · division of earnings with o ther r oads the Bridge Co. is allowed a con- . J\. orth~es i Fqulpment,-Tlle property of this company con~1sts etructive mileage of 40 miles, Capital stock, $5.000,000; par value,. entirely of railroad t quipment (costing $3,000,000l, all of which is $100, $4,250,000 of which is held by Del. & New England, which com-. leased to thfl Nutbern Pacific RR. The rental is 7 per cent per annum pany owns al so the entire Ftockof the Cent ral New England & Western. on the cost of the equ ipm,:.nt. As a sinking fund the Nor. Pacific is to Abstract of 1st mortgage (Mercantile Trust Co., Trustee) In Vol. 45, p. · deposit with the trustee yearly, either in ca sh or in its m ortv;age bonds 27;';. N. Y. Office, 115 Broadway. John B. Wilson, Pres. (V. 45, p. 275., at tneir market value, a Eum equal to 10 per cent of tbe ~cost of the 401, 473; v. 47, p. 81, 256, 410, 555; v. 48, p. 38, 688; v. 4.9, p 654.) leased property. October 1, 1898, w ll en the lease terminates, the Equlp· ment Co. wm be pa.id out of this sinking fund the <'riginal cost or the Pullman PalaceCar.-Thestock has been increased from time to:. equipment, which will then become the property or the lessee. See time to pi-ovide new capital, tts wanted, since the price, ruling above., pa.r. gave a bonus to stockholders when subscribing fol' new stock, statement to N. Y. Stock Exchange in ful! in CHRONICLE, V. 50, p. 73. In Jan , 1889, purchased control of the Union Palace Car Co. (See V ... Northwestern Telegraph.-0wns 8,000 miles of wire and ls 48, p. 128), and in March, 1 889, voted liO i esue $5,000,000 n t w stock at , leased to Western Union for 99 years, with guaranteed divi tends, rar to stockholders. (See V. 48, p. 260, 327.) Dividends since 1876 have been: From 1877 to 188 :> inclusi ve, 8 ' rising one-eighth per cent a year to 6 in 1897 and afterward. The per cent; from 1881 to 1883 inclll8ive, 912; from 1884 to date, a t the. bond interest is guaranteed, rate of 8 p er cent yearly, Fiscal year ends July 31. Report for 1888·89 was in CHRONICLE,. Oregon Improvem.ent Co.-This company owns $3,000,000 stock v. 49, p. 538. of the Seattle Coal & Transp. Co.; $575,000 stock of the Columbia & INCOME ACCOUNT. Puizet Bound RR.. which stock is to be increa sed to $1,000,000; $1,980,· 1888-9. 1886·7, 1887-8. 000 stock of the Pacific Coast S. S. Co., and $1,370,000 (all) stock and $ Revenue$ $ $1,370,000 (all> 1st mort. bds. or Pac. Coast Ry. Co. (Port Harford, Cal. 6,259,371 6,825 ,955, to Los Aler os. 76 miles). Of the t,onds given above as outstanding•, Earnings (leased lines included)...... 5,621,0t8 1,250,3S3 1,477,341 Patent royalties, manuf. profits, &c.. 819,914 1 $486,000 are in the sinking fund, but draw interest. Under the conso , mort. for $15,<,00,000 (trustee, Farmers' Loan & Tr. Co.), $6,514,000 Total revenue ..••..••..••..•••.••• 6,440,932 7,509,754 8,303,296. bonds are reserved to retire the pr£-ferred stock and t be first mortgage Disbursements$ $ bonds not in t he sinking fund, while $2,000,000 bonds may be issued $ forthwith, au.t the remaining $6,486,000 on a two-thirds vote of the Operating expenses ......••........•• 2,224,807 2,506,584 3,070,779r 920,90a 969,896 1,045,398 company 's directors for n rlw propnt y ac· quired. See V. 49, p. 540. Paid other sleeping-car associations. 66,000 Dividends since 1~76 have been: Ou com lllon - in l· 83. 712; in 1888, R entals ofl ased lines . . .•...•..•••... ·79:5·27 159,150 i32:450 112; in 18t-9, 412. On preferred (issued in 1888)-in 1888, 312; in 1889, Coupon interest on bonds . ••. ·-······ 7. From Dec. l, 18 8, to Nov. 30, 18d9 (12 m ontbsl, net earnings Dividends on capital stock .••. . .•.... 1,274,176 1,510,890 l,795,63B 198,870 8 !,915. 2 10,018 Repairs of cars in excess of mileage. were $723, 'l 31, against $1 ,066, 511 in 1887-88, In 1887-88 net earn~., 100,000 100,000 $1,097,730; surplus ovi3r intere· t and di vidend on prer., sto ck, $572,027, Cont ingency account .••...•....•..••• -(V. -!7, p. 227,344,473; V. 4.8 , p. 222; 461; V. 49, p . 540, 789.) Total disbursements.............. 4,904,047 5,494,192 6,051,765 Pacific 1'.lall Steamship. - The trans-Continental railroads Net result . ............................ 1,536,885 2,015,562 2,251,531 give to the steamship company a guaranty or $75,000 minimum per -(V. 4.7, p. 4'.7'1; V. 48, p. 128,222,260, 4'20, 530; V. 49, p. 511, 538.),, mouth for space taken in its steamers, in consideration of the main• (lulcksllver 1'.linlng.-0wns quickSilver mines at New Almaden~ . tenance or agreed rates. Dividends since 1880 have been: In 1884, 334 per cent; in 1885, 5; Cal. The preferred stock is entitled to 7 per ~t. per. annum, not cumu-., lative, and anv surplus goes to the common and preferred equally. Bee in 1886, 114; in 1887, 1; in 1888, nil. Prices of stock yearly since 1880 have been: In 1880, 2712@62; in annual report for 1888-89 in V. 4!>, p. 50, showing net income applica1881, 39@62¼; in 1882, 3~¾@4834; in 1883. 28@4434; in 1894, 31@ ble to dividends for the year of $131,624., against $328,728 in 1887•88. 5718: in 1885, 4612@i0; in 1886, 45:\1@67; in 1887, 3214'@5334; in Dividends have beeD.: On common, in 1881. 2 14 per ceut; in 1882, 2-5. 1888, 28¼@4012; in B89, 31¼'1il40; in 1890 to Jan. 17 inclusive, 3638 nothingslnce. Onpreferred: In 1881.9¼: in 1882,6; in 1883. nil; in 1884, 3; in 1885, nil; in 1886, 234; in 1887, 3; in 18P8, 6ll&; in @39¼. 18S9, 3; in 1890, Feb. 3,112. CV, 45,p. 83; V. 47, p. 49; V. 4'.:I, p. 50.) Fiscal year ends Aprll 30; report for 1888·9 was in V. 4.8, p. 727. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- 0 '1:51 INVESTORS' SUPPLEMENT. [VOLL. Sttbscrlbers will confer a great favor by giving Immediate notice oC any error discovered In these Table•. DESCRIPTION. INTEREST OR DIVIDENDS. · Bonds--Pr1n.o1• ------'------·- --------------1 Date Size, or Amount . pal,When Due. Tor explapatlon of column headings, &o., see notes on first of Par Outstanding Racteenpt.er When W~ere Payable and by Stocks-La8t pii,ge of tables. Bonds Value. Payable Whom. Dividend. - - - - · - - - - - - - - - - - - - - - - - - - - - - - - - 1 - - - - - - - - - - - - - 1 · - - - - - - - - - - - - - - - - - - -1- - - - - - · Western Unum, Telegraph-Stock ..............•..••..•••.••• $100 $86,199,852 114&34ex Q.-J. N. Y., Office,195 B'way. 1,000 1,301,000 7 g. l\f. & N . N. Y., Union Trust Co. Real esta,t e bds.,g.,(lien onW.U.Bldg.,N.Y.C.) s.f.(not dr.) i872 1,000 4,920,000 7 N!'. & N. N. Y., Treasurer's Office Debentures (if drawn surrender is optional) . .•.. . ... c & r 1875 ~61,192 6 g. 11. & 8. London. Morton.R.&Co . D ebentures.sinking fund 1 p. ct., drawn at 100 .••..•... c 1875 £100&0 1,000 7,371,000 5 J. & J. N. Y.. Office, 195 B'way C ,1Ua.teral Trust bonds ..•. . ••..•••..•....•••.••...••••. c* 1888 100 1,300,000 134 Q.-li'. N. Y. Office, 18 B'way. 'Tltitehreast Puet-Stock ... . ....................... . .... .. . l ,OO:> 570,000 6 g J. & n N. Y., Atlantic Trust C<>. Gen. M., {now lat) g .. s. f., $30,000, d r'n at 110 ... c'" & r isds Jan. 15, 1890 Ma.y 1, 1902 May 1, 1900 March 1, 1900 Jan.1, 1938 Nov. l l , 1889 June 1, 1908 In April. 1886, the quarterly dividend was patd in scrip, and no more dividends were paid till July, 18 37, when cash dividends were resumed at 1 per cent. afterwards in.creased to 114 per cellli quarterly. · In Jan. 1890, an extra dividend of 34. of one per cent was· paid. The collateral trust bonds ot 1888 (trustee or deed, Mercantile Tr. Co.) a ro issued to retire an equal amount of stock and bonds of various telegraph and caole companies for the interest or dividends on which ~outlael'n & A.1lantlc.-Lines leased to Western Union and stock the Western union Co. is liable, these when so retired to be h eld as se• ,gu:;i.ranteed ~Y the r ental, 5 per cent per annum. curity for the new bonds. 1n Oct ober, 1887, the Baltimore & Ohio Telegraph Co. was purchased Sterling Iron & 'Ballway.-The property of this company, in range County N. Y., (and a few acres in Rockland) consists of 25,000 by the W. U. ($3,875,000 of its stock) foi• 50,000 shares of w. U. stock and $60.000 per annum as rental for 50 years. The mileage of wire -.acres of land, with furna,ces, &c., having a capacity of 15,000 tons of :pig iron per y~ar, and 71.g miles of railroad, houses, &c. The company transferr'ed by B. & 0. to W. U. Tel. Co. was as follows: Owned, 52,603 miles; leased. 1,504. controlled, 4,480. Number of offices taken over ndorses the $471,674 bonds of the Sterling Mountain Ry. A. w. Hum• about 1,000, of which 250 were not duplicated by the w. U. ~l)hreys, President, 45 William St.. N . Y. The range in prices of stocks for a series of years haA been: In 1881, Te11neHee Ooal Iron & KB. Compauy.-(See Mup.) -This 77 (ex.. certlf.) @137 7e; in 1882, 7618'@933s; in 1883, 71:li~8814; in ··~ompany Qwns blast furnaces, coal mines, iron mines, foundries, &c.. 1884, 49@7818; in 1885, 5319@813s; in 11386. 6018'1i>80½1; in 1887, 6719 -and coal and iron lands, ln Tennessee and Alabama. The total are 1, of 'it8l7p; in 1888. 703s1Z86:li: in 1889 81~1?88¾; in 1890 to Jan. 17, . mineral ll\nds and rights owned by tl11 com~1an.y is 208,323 acres, of inclusiv ?, 83@'351s . The statement for the quarter ending D ae. 31, 1889 (partlyestlmated) ' "Which 81,998 aeres are i '1 Alabama and 126,425 ac · es are in TenneRsee. •<>r the latter 58-, 135·5 lie in Cooke an 1. Green c1unties in the ea-1tern was as follows, compared with the actual figures for same quar. in 1888: ' 1>ortion of the State on the borders of go ~th C ~rolina. The balance of ,---Quarter endin"' Dec. 31. ---.. ·-tue prop erty, for the purp'lse 01' working. is g rouped in six div sions, Actual. 1888. :fu1ttimat.ed, 1889. three in each State. '£he three divisioris in T enn essee are known as the N et revenue ............................... $1,685,808 $2.')00,000 'Tracy City, South Pittsb urg: an<l Cowan divisions; the three in Alabama De.duct~~ the Birmingham, P ,r a,tt Miues and Ensley dlvisiom. See a full state• Interest on bonds . .............. $192,3::J6 $213,850 ment of the property in V. 44, p. 245. Of the BirminglJ.am Divl~ion Sinking fund.................... 20,'lOO 20,000 ~onds $1.000,000 are reserved to retire prior issues at maturity. The - - - 212,336--- 233,850 wtal funded debt J,an. 31, 1889, was $6.l l0, 800, and @inking tunds held --6t same date am<'U.nted to $969,43!t, lea.vine net debt$;;, 141.360. Net r evenue ............................... $1,473,472 $1,766,150 ·Dividends bave been: Ia 1887, 1 on common; in 188.,;. nil; in 18g9, Le~s dividend _.................. (114 p. c.) 1 ,077,:i76 (2 p. o.) 1,723,82C ·sonprererred; in 1890, Jan. 1,245, th~ remaining11 5 per<>ent being taken by State as tax under law nf)W repealed. (See V. 50, p. 72.) Surplus for quarter....................... $391\096 $42,330 J<'rom Feb. l to 'J;><.•o. 31, 1889 (11 months), net earnings, partly Add nominal surplus Sept. 30 .••.•••..•••• 7,923,758 9,308,208 -es1imated, were $666,8'10, agii.tnst $631,100 in 1888. In yt1~ ending Jan. 31, 1889, net e'\rnings over expenses and taxP.s N·o minal surplus D ec. 31 ............ $8,319,854 $9,350,538 ·w.ere $666,092; surplus over charges and 4 p. c. on pref.stock, $289,396. President Green, in his ann 1 ta.l report for 1887•8, made explanations See anllltal report for 1888·9 in CHRONICLE, v. Ml, p. f>26. (V. 47, p. as to the nominal surplus of the company. (See UHRONICLE, V. 47, p. -218, 442; \T. 48, p. 463, 526 ; v. 49, p. 403, 690; v. 50, p. 7:l.) 440.) .l•'iscal year ends Jlll!e 30; report for 1888·89 was m V. 49, p. 469 . .Term.i°'al RR. · Association of St. Louls.-Thls company --w~ form ed fn Dec., 1'38~, to bring under one management th'I Union 1886·87. 1887-88. 1888·89. . ·J:tailway & Transit Co., th ~ Terminal RR. C •., the Union D epot Co .. the Revenues fortbe year ••••.••• $17,191,910 $19,711,164 $20,783,19-1 :s·t uouts·Bridge (;J.I. and the Tllnnel R&. CJo . The corporate existence Exnensesof the la.st tn.~oo is maintii.ined. but tile f!t •) ck of the other two forms the Opeiating and gen. expenses .. $9,077,445 $10,065,843 $10,515,185 nµcleus of , the new cotnpany. All tl:le st.ock of tile new association, it Rentals of leased lines ..••..••. 1,899,954 1,912,486 1,647,509 !I., s tated , is owned by the Mi~souri Pacific, the Tron Mountain, the Maintenance & reconstruction. 1,673,670 2,0 35,126 1,878,533 WabaPb, tbe Ohio & ~18°., t11£, L. & N . and the Big Four, whieh com• Taxes .................... ... .. . 278,594 355,878 333,568 l)enit-s, it is said, will ~uara'1tee the new bonds . On July 1, 1881, Equipment of offices and wires. 224,965 24 t,259 190,358 'the bridg-e arid TunneJ Railroad were leased to the l\fo. Pacific and Waibash St. Louie & Pacific for the term of their corporate charters, on the Total expenses .•••.•••..••• $13,154,628 $14,640,592 $14,565,153 1terms following, viz.: Of the stock, $2,490,000 first preferred is guaranProfits . ..................... $4,037,282 $5,070,572 $6,218,0U rteed 6 per cent ; $3,000,000 second preferred is guaranteed 3 per cent Disbursementsg>er annum. The railroad stock of $1,250,000 is guaranteed 6 per cent a For dividends . .•..•••.•••.•••... $811,864 $4,043,950 $(,309,520 _year. The whole annual charge for rentals is $670,000, one-ha.If pa.ya• For interest on bonds .•••.•••.•• 493,074 490,258 755,686 ·!>le by Missomi•Pacifio and one-half by Wabash. The common stock was 39,991 40,000 39,982 ''liel<l by the London Reorga-n1zation Committee, and under the learn was For sinking funds ............. . '\transferred to Mercantile Trust Company of N. Y. with power to vote Total disbursements........ $1,344,929 $4,574,208 $5,105,188 'thereon. Tbe briilge common stock i~ $2,500,000, par $100. In the Balance of profits.......... $2,692,353 $496,364 $1,112,853 year ending Dec. 31, 1888, fn'OSS earnings w ere $1,703,300; net, $ -155,· 7137; snrpius over mrerest. g-uar. dl....-id .. nds. ete., $3,099, against $49,336 Surplus July 1 (begin'gof yr.) .. $4,309,835 $7,002,185 $7,498,5(9 Jn 1887. ,v. 46, p. 255,471; v. 49, p. 435 .) Balance of profits for year..... 2,692,353 496,364 1,112,853 T.e:xas Pacific Land Trust .-The certificateR of this Trnst Total nominal surplus June 1Tepresent thA ownersllip or tbe tan 'ts formerl y be!ouging to the Texas 30 (end of year).......... $7,002,188 $7,498.549 $8,611,402 • & Pacffle Railway. Tbe trustees of the land trust are Messrs. Charles ;;r, Cand11,, Simeon J , Drai.e anll Willi a m Stranss, of New York, and tbe The foll •JWing table ex:hib its the mllea-re of lin~s ope~at0d, num"J0r or lands received conQis1ed of 3,450,642 acree, and also $899,731, secured offices, number of mess-,ages sant, receip ts and profl. Gs, for ea.ch ye1r by. purchasers' contracts In 1888 there were sold 8, 771 acres and 6 1865-66 to 1883·89 inclusive. · '1iown lots for $25,~08. Rentals received from grazing lands, $18,458. Miles of Miles of N'I. of ~ ee descrlpt1Cln ot landA in V. 47, p. 341c. Year. PQles ~ O'bl!.1. Wfre. Offices. Messages. Receipt,. Proftu. 'United Lines Telegrapb.-Thls company was formed In 1865-66 . 37,380 75,686 2,250 $ ·•••····•• $ ....... . , .41,ugust, 1885. as succeBsor to tbe Bankers' & Merchants' T el., sold in 1866-67.. 46,270 85,291 2,565 5,879,282 6,568,925 2,624,919 :toreclormre July 31, 1885, subject to prior mort. of about $300,000. See 1867-68 .• 50,183 07,594 3,219 6,404,595 7,004,560 2,641,710 ".:acoount of sale and list of property sold in CHRONICLE, V. 41, p. 122. 1n 1868·69 .• 52,099 104,584 3,607 7,934,933 7,316,918 2,748,801 Nov., 1886, C. P. Farn•ll 01' N . Y . was appointeit receiver-of the B. & 'M. 1869-70 .. 54,109 112,191 3,972 9,157,646 7,138,737 2,227,965 1 a,ropel'ty in Penn .. anll afterward appointed for N. J. and Conn. 1870•71.. 56,032 121,151 4,606 10,646,077 7,637,448 2,532,661 . nte Bankers' & Merchants' plan of reorganization was nubllshed in 1871·72 .• 62,033 137,190 5,237 12,444,499 8,457,095 2,790,232 ,the INVESTORS' SUPPLEMENT or Dec., 1886, and prior issu es.) 1872·73 .. 65,757 154,472 5,740 14,456,832 9,333,018 2,757,962 Everything has been beld in check by litigation. and the lines have 1873·74 .. 71,585 175,735 6,188 16,329,256 9,262,653 2,506,92(1 • 't>een operated under contract by the Postal Telegraph Co. Stock is 1874-75.. 72,833 179,496 6,565 17,153,710 9,564.574 3,229,157 i~3.000.0-00. (V. 49, p. 470.) 1875-76.. 73,532 183,832 7,072 18,729,!>67 10,034,983 3,399,509 1Jnlted -States E:xpress.~ In Sept., 183i, the stock was increased 1876-77 .• 76,955 194,323 7,500 21,158,941 9,812,352 3,140,127 '$3,0oo,000, rai E"ing it to $1 ,,, 00,000, and the B . & 0. Express was pur- 1877-78.. 81,002 206,202 8,014 23,918,894 9,861,355 3,551,542 4'haaed. B . & 0 HR. owns $1,000,000 stock. Dlvidends since 1880 l ~7g.79.. 82,987 211.566 8,534 25,070,106 10,960,640 4,800,440 ,have been: From l!:!81 to 1887, irclu!>ive, 4 per cent; in 1889, 5; in 1879·80 .. 85,645 233,534 9,077 29.215,509 12,782,804 5,833,937 "l.88 '.), 5 . Dividends will hereafler be paid semi-annually in Mc1,y and 1880-81..110,340 3~7,171 !0,737 32,500,000 14,393,543 5,908,279 1881·82 .. 131,060 374,368 12,068 3~,842,247 17,114,165 7.118,071 2tovember. (V. 45, p . 30"1, 311. 438 l 1882-83 .. 1-14.294 432,72612,917 41,181,177 19,454,:JJ~ 7,660,341 Well•t Fargo Express.-No annual r eports or information. In 1883·84 .• 145,037 450,57113,761 42,076,226 19,632,939 6,610,431 March, 1~88, this company bought out the Erie Express of the N. Y. 1884-85 .. 147,500 462,283 14,184 42,096,583 17,706,833 5,700,92-t uke E rle & West. RR. Co. Dividends of 8 p er cent yearly have been 188;;·86 .•151,832 4'39,607 15,112 43,289,807 16,29q,63 ~ 3,919,8~5 11!)aid for many yPars , (V. 46, p . 371; V. 48, p. 3 72.) 1981-l-87 .. 156,814 524.64115,658 47,394,530 17,191,909 4,03'i-,2~0 Western Union Telegraph.-On Jan. 19, 1881, was dated the 1887-88 .. 171,375 616,'24817,241 51,463,955 19,711,16! 5,070,579 -.'ffl\nd consolidation, in wb1ch t he Western Union raised its stock to 18:S8·89 .. 178,7.'J 4 047,69718,470 54,108,326 2),783,194 6,218,045 0,000,000. giving par. or $15.000.000. for the stock and bonds of tbe -(V. 46. p. 352, 771; V. 47, p. 278, 327, 439. 663, 745; V. 48, p. 70 ·'lAmerican Union; 60 per cent for old Atlantic & Pacific stock in new 121, 190,221,490,530, 800; v. 49, p. 5'3, 469, 7o9.) · estern Union; and a stock distribution of 48½ oer cent to Western ' 1Unien shareholders. TWs stock dividend was ttna.Ily held to be legal by White breast Pnel.-Owns 2,797 acres, and lea'les in perpet uity ~~·.New York Court of Appeals in Oct., 1883. 980 acres coal land at Clevelan'.l, in Luc,as c,.,, aTJ.d at MaryevHle and Ia 1889 two o.a bles aggregating n early 1,700 miles In length were Swan. Marion c,.,., Iowa. Organized as WhitebreastC,>al Mintng Co. Jan. · ·•complet!'ld betwe•n Oµney Island and Nova Scot·a, giving company 16, 1876; rMr~anized as Whitebreaf!t Coal Co. A.p ·il 30, 1886,and under -~"W9 working cab.le- from New York City to En Eland. 'rhe uew c1,bles present titie July 2 . 1837. !:lee application to N. Y. Sto0k Exchange in w.er;-e pairt f1>r in: cash. full, CHRONICLE, V. 46, p. 676. The Mutual Union TelegTaphmadeanoppositionline, butinFeb.,1883 In year e 1din~ June 30, 1889, gr.Jss earninl?s wAre $881,418; net, •·&lease was agreed upon. The Western Union also leases the Am. Cable, $164,951; surplus over interest, sinking fund$ 0.000 and dividends . ....uh a ~~arantee of IS per cent per annum on its stock of $14,000,uOO. (7 per ceut) $5,951. Presid1mt, J.C. o~good, 19 Broadway, New Yorlc.. 'Sontlu~.r n (lot.t on 011.-This company ls organiz ed un<ier the laws <>Of the State of Ne.w Jer.i ey, and owns eight cruslling mills in as m a,ny ~itles of the South, witll an aggregate capacity of l,61JO tons of seed per <day; als o owns six: rdlneries, etc. Pa.id 4 per cent Feb., 1 889, and 4 per cent June, 1889. S ee statement to N. Y. Stock Ex:cnange in full in CHRONfOLE v. 4.9, p.40!. Pres., Henry C.Butcher.-(V. 49, p. 403, 404.J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis . I JANUARY, 1rno.J MISCELLANEOUS STOCKS AND BOND~. ~---tf(Ar, _!j J I f WI L L I I" 1------- ~ 1 I I MAP OR EASTER~ TENr" ESSEE supwQiq l'ROf,'l);RTT IN ~ke &:~reP-ne Countie .. ' 1 _.,. - -·-- ' E S : ! : I I I ·-"-,·-·-·!' j M https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis E- ! !M I A : E : lHu I ----/,CH 1 @ R Somertill~ G A I ,,' umfuer v. , ayne • , \, • \. \ -- OGA INVESTORS' SUPPLEMENT. UJ,t . INSURANCE STOCK LIST. BANK STOCK LIST. CAPITAL. OOli:PA.NIES. 1_ _ _ _ _ _ 1a~~~i CAPITAL. DIVIDENDS. __,____ ,____ - - - - - - - ----Par Amount. dates.t (V(;I,, L. COMPANIES. Latest. Pertod. 1888. 1889. Par. Amount. - - - - --· 8 Jan., ' 90 . 4 8 100 s,oJ,ooo l ,87t9oo J. & J. 7 Nov.,'89. 3¼ 7 100 5,000,000 1,631 ,500 M. & N. 4.6,900 100 300,000 12 Jan., '90. 6 100 250,000 437,200 J. & J. 12 16 Jan .• :9o. 8 Broadway:: 251,000,000 l,645,900 J. & J. 16 8 Jan., 90. 4 8 Butoh's'&Dr 25 300,000 287,700 J . & J. 7 Jan., '90. 312 8 Central .••. _ 100 2,000,000 563,700 J. & J. 6 Jan, '90. 5 'Chase .••... _ 100 500,000 752,900 J. & J . 6 12 J an., '90. 3 25 450,000 624,000 Q.-J. 12 'CJhatham Chemicai··· 100 300,000 6 ,052,900 Bi-m'ly. 150 150 Jan., '90.25 7 Jan., ;90 312 7 Olttzens' .::: 25 600,000 402,300 J. & J . 15 Nov., 89. 5 City .....••.. 100 1,000,000 2,34~•~88 M. & N. 15 , <runton* . • • . . •• . 200,000 6 Jan., '90. 3 77,600 ..•. •••. . .•••. COlnmbla*.. .. •. 200,000 8 Jan., '90. 4 8 <Jommeroe 100 5,000,000 3,281,600 J. & J. 6 Jan., :9o. 3 6 58,600 J. & J . Oommerc1a1: . ••. 300,000 7 Jan .,, 90. 4 7 Oontinent al. 100 1,000,000 277,000 J. & J . 10 Aug ., 139. 5 O,rnExcb.*. 100 1,000,000 1,130,900 F. & A . 10 8 Jan., '90. 4 8 25 250,000 132,8 00 J. & J . EMt River 25,200 'East Side*.. . .•. 100,000 8 Jan., '90. 4 8 11th ward~ . 25 100,000 149,100 J. & J. 56,600 timp. Sta te* . • • . 250,000 6 Jim., '90. 3 6 Fifth .••..••. 100 150,000 275,000 J. & fJ. 'F ifth Ave• 100 100,000 737,800 .•••..• . .••.. . ..•... ·· 100 500,000 6,107,800 Q.-J. 60 100 Jan., '90,!?5 Ptrst IFouriii:::·: : 1003,200,000l,543,lOOJ. & J . 7½:! 8 Jan.,90. 3'9 58,200 114th Bt r eet* 100 100,000 10 Oct., '89. 5 Gallatin ... . 501,000,000 1,372,500 A. & O. 10 9 ,100 .••..••....••.••••••..•..••••.•••. 'Gansevoort* .... 200,000 50 200,000 296,700 Garfield 6 Aug-.,'89. 3 6 Germ'nAm:,i 75 750,000 231,800 F. & A . 12 May , '89.12 10 '6erm'n E x" 100 200,000 4 58,700 Ma y. 10 Nov., ;89. 5 9 Germania*:. 10() 200,000 394.500 M. & N . 6 Nov., 89. 3 6 '&reen;:wich* . 25 200,000 116,700 M. & N. 62,600 .••..••.••.•....•••... . .....•.•.•. Hamilton *. . . • • . 150,000 8 ,800 .... . .•..•.....••••• 100,000 Harlem * 7 Jan., '90. 312 1,000,000 1,rn3,900 J . & J ., 7 Hanover···· 81 ,600 M. & N ....••..••... Nov.,'89. 3 llome• .. :::: •••. 100,000 Homestead* .... 100,000 None. . ••.•••.......•.••..••..••.....•• , Bud. R iT er•. l 00 200,000 118 ,000 . . • . . •• . • .. . . . . .. . . . 14 J a n., 90. 7 linp.&Trad. 100 1,500,000 !,528,700 J . & J. 14 8 Jan., '90. 4 8 Irving ...... 50 500,000 280,300 J. & J. 10 Jan., '90. 5 l";eatherMfr. 100 600,000 561,600 J. & J. 10 2 ,400 .....•• . ••• •...•... . .••.•..••.•.•. :Lenox Hill•. ••• . 100,000 100 300,000 258,900 ..••.••..•••...••.. . .••.... • ...•. a:.itncoln 31,800 J. & J .....•.....• . J an., ;87. 3 llladia'nBq:• 100 200,000 7 Aug., 89. 3"'9 7 Manhattan * 50 '2,050,000 1,309,100 F. & A. 8 J a n., '90. 4 mt & Fult. 100 750,000 697,500 J. & J. 18 8 Jan., '90. 4 Mechanics'•- 252,000,000 1,773,000 J. & J . 8 10 J an., '90. 5 Xech. '& Tr* 25 200,000 214 ,400 J. & J. 10 61£ J an., '90. 3 6 •~rcantlle . . 100 1,000,000 801,8 00 J. & J . 7 ,Tan , '90. 3¼ Kercbla,n.ts'. .50 2,000,000 8 83;800 J. & J. 7 6 Jan., '90. 3 6 Kercb'.. Ex.. 50 . 600,000 130,300 J. & J. 10 Dec., '89. 5 8 Metropolis*. 100 300,000 512,300 J. & D . 6 Jan., '90. 3 Ht. Morris*. 100 100,000 245,300 J. & J . 6 16 Jall., '90. 4 :Murr'y Hill* 50 100,000 312,700 J . & J . 16 8 lsov., '89. 4 aassau*..... 100 500,000 195,800 M. & N. 8 30,000 .••. .••. .•••.. .••• .. Ii. Amst'm*. •••. 250,000 10 Jan,, '90. 5 Bew Yorx ... 100 2,000,000 1,668,700 J. & J. 10 8 Jan., '90. 4 8 y County 100 200,000 289,600 J. & J. 6 Aug.,'89. 3 6 Ii: y·.N. Ex. 100 300,000 138,400 F. & A. 7 Jan., '90. 3¼ li1nth ..... .. 100 750,000 319,400 J. & J. 7 27,900 liine'th W'd • . • • . 100,000 6 Jan., ;9o. 3 5. America~ 70 700,000 499,400 J. & J. 6 8 Jan., 90. 4 8 North Riv'r* 30 240,000 199,300 J. & J. 10 Jan., '90. 5 Orlen~• . . . 25 300,000 364,900 J. & J. 10 8 Nov.,;89. 2 8 Pacific* •••. 50 422,700 375,200 Q.-F 8 Jan., 90. 4 8 Park ........ 100 2,000,000 2,197,000 J. & J. 10 Jan., '90. 5 :People's*. . . 25 200,000 260,300 J. & J . 10 6 Jan., '90. 3 Phenix.... . . 20 1,000,000 551,900 J. & J . 6 5 Oct., '89. 3 Prod. Exch.* 100 11,000,000 187,100 A. & 0. 5 7 J a n., '90. •4 7 Bepublic . .. . 100 1,500,000 889,200 J. & J. 5,900 . ••...•. ...••. · ··-- · 100,000 Blver. Bide*. 6 Jan., '90. 3 6 St.Nicholas* 100 500,000 206,000 J. & J. 6 J a n., '90 . 3 6 Seaboard . . . 100 500,000 145,800 J . & J. 6 Jan. , '90. 3 6 80,700 J. & J . lleventh ..... 100 300,000 10 Jan., '90. 5 Second •••... 100 300,000 255,500 J . & J. 10 8 J an., •~o. 4 8 Shoe& L't hr 100 500,000 246,300 J. & J . 8 Jan., '90. 4. 8 89,600 J . & J . Sixth ...... . 100 200,000 6 Nov.,'89. 3 6 StateofN.Y* 100 1,200,000 477,500 M. & N . Third . ...... 100 1,000,000 307,400 J. & J . · 5-12 _..... J a n ., '90. 2½ 3 July, '89. l:$ 6 Tradesmens' 401,000,000 219,000 J. & J . 61 ,000 ..•..• • ...•....•••...••..• ~ ...... . 'll.'weit.Ward* ..•. 200,000 4,200 .••..••..••••..•.••......••...•••. "23d Ward*. . . •• . 100,000 5 1,800 .. •. ..•. . ...•. . .• • . Union Sq .*. . .• •. 200,000 8 J an ., '90. 2 8 U. States .. . 100 500,000 4 98.900 Q.-J. Western .... 100 3,500,000 258,000 . : . . ........•..•• • •. J a n ., '90, 2 10 Jan., '90. 6 West Side*.. 100 200,000 2 31,5 00 J. & J . 10 :::::-Am. Exch·:: Bk.ofDep'sit Bowery * Alliance .... 1,000 Amertcanf ... 50 Bowery .••.. 25 Broadway ... 25 (,'ltizens' ... f 20 City .••. ···-· 70 C'mm'nw'tht 100 Continental f 100 Eagle ••••.••. 40 Emiire City. 100 Exe an~e • .. 30 Farragu .••. 50 Fire .Ass'n .•. 100 Firemen's ... 17 German Am. 100 Germania ... 50 Globe ..••... . 50 Greenwich .. 25 Guardian .••. 100 Hamilton .. . 15 Hanover •••. 50 Home .••.•••. 100 Jefferson . .. f 30 Kings Co.y> 20 Knick'boc 'r 30 Lafayette(t) 50 Li"!"lerty ...••. 80 Longlsl.(t) .t 50 Man.& Build. 100 NassauJP···· 50 Nation .... 3719 N.Y. Fire .••. 100 Ni~ara .••.. 50 No h River. 25 Pacific .•••... 25 Park .••..••.. 100 People's ...•. 50 Peter Cooper 20 Phenix(t) .••. 50 Prudential . . 100 Rutgers' ..••. 25 Standard ... 50 25 i~e~t.!!es 25 Westchester. 10 Wms'bg C.(t) 50 ioo Net DIVIDENDS. Surplus, Jan. l, 1889.* 1887. 1888. 1889 , Last Paid. -- --····· ...... ···--· . --- .......... $ $ 58,459 200,000 400,000 MS,338 10 10 10 300,000 119,069 12 12 200,000 218,736 12 300,000 293,639 6¼ 6¼ 210,000 159,619 8 8 97,122 2 500,000 1,000,000 1,226,692 15·40 i2-°45 10 300,000 676,534 15 80,497 7 200,000 612 100,543 200,010 7 7 75,061 10 10 200,000 72,511 300,000 6 42,673 204,000 6 1,000,000 2,243,986 20 20 1,000,000 726,445 10 10 200,000 lC0,027 10 10 200,000 415,742 10 10 38,391 3 200,000 73,594 10 150,000 1,000,000 462,554 10 10 3,000,000 1.502,462 10 10 200,010 244,408 10 10 150,000 167,451 20 16 94,397 6 210,000 22,087 8 150,000 7 800,000 115,408 "a" .. 5 ,553 300,000 200,000 119,789 8 6 200,000 178,~62 10 10 71,880 8 200,000 8 56,212 8 200,000 io··· 500,000 37!?,540 10 34,120 8 350,000 8 200,000 34.0,070 12 12 138 812 200,000 39,192 10 200,000 150,000 212,336 12 12 1,000,000 193,928 10 13,185 200,000 io··· 200,000 156,915 200,000 130,236 7 7 5 3,1 86 8 200,000 6 2.5 0,000 263 ,9 0 2 11 11 300,000 314,859 10 10 250,000 611,004 20 20 ,;··· ·s· .. ·a··· ·a··· J a n., '89. io··· t Surplus includes scrtp. (t) Brooklyn. CITY HORSE RAILROAD STOCKS AND BONDS. ' Dividends and interest. RAILROADS. Atlantic A venue (Brooklyn) . . Bonds .••..••...•...•...•..... Bleecker St. & Fult. F.-Stock. 1st mortgage ..•...•....•..... Broad.way & 7th Ave.-Stock . lat mortgage ..••..••..••. _••. 2d mortg a g e ..•.......••..••. Broadway Surface-Bonds ..•. Bonds ..•...•...•......••..••. Broad.way (Brooklyn) ..•••..•. 1st mortgage ...•...•..• • ..••. 2d mortt~ge ..•...••.••••.••. Brooklyn 1ty-Stock.•••...••. 1st mortgage . ....... . ..•. _... B'klyn Crosst'n 1st M . b'ds .. Bushwick Av. 1st mortgage. Brooklyn City & Newtown . ... 1st mortga ge, two serie1:1 ..•. Central Crosstown-Stock ...•. 1st mortgage . .••...• . ....... . Cent. Park N. & E. Riv.-Stock Consol. mortgag e bonds . ... . Christopl;ler & !0th Bt.-Stock. Bonds .. ...••..........••..••. Coney Island & Brooklyn _.••. * These are not N ation al banks. i~i:gfilra~l: :: :::.:·:::::::: D. D. E. B. & Battery-Stock .. 1st mortgage .••..••...••..••. LOCAL GAS COMPANIES' STOCKS AND BONDS Eisme Avenu~tock::::::::: lfcrip . .. ..................... 42d & Grand St. Ferry-Stock. 1st mortgage ..••...•..••. _••. 42d St. Man. & St;. Nich. Ave .. 1st mortg age ..•..•••.••..••. 2d mortgage income ..••. .• . Grand St. & Newtown (Bk'lyn) 1st mort~age ......•...••..••. Houst. w. Bt. & Pav. F'y-Stk. 1st mortgage ..•••..•..•••.••. Ninth A venue ..•....•.••••.••. Second A venue-Stock .•••.••. 1st mortgag e .... _.•• . .••.•••. Sixth A venue-Stock . •••... . •. 1st mortgage . ..• . .••.••••.••. Third A venue-Stock ..••...••. l et mortgag e . ... . ••. . ••...•. Twenty-Third Street-Stock ... 1st mortgage . .• ..•••..••..••. D ebenture bonds ... . •. • .••... Dividends and interest. Brooklyn Gas-Lift- •• . .. •••••• Uttzens' Gas-Lig t (Brooklyn) Bonds .••. ••• . .••••••.••••••• : <ionsolidated Gas . ••••.••.•••. . D e bent ure b onds .: •..••..•• ~ W.etropolit an Bonds .•••••.• ..•. !Equitable ... ••. ••••.••...•·. .••. Bonds .••.••• . •••..••.•••..••. Fult on Municip al. ••... • .•••••. . Bonde ••• . .•• . .•• . .•• . •••..•• . W:etr~.rlitan (Brooklyn) ...••. Hutu (N. Y.) •••••••• •• •••• • •• Bonds . .. . .. . . .. . .•• • . .••.•••. •aasa.u (Brooklyn) .•• • .•••.•••. Scrtp . .... . .. . . . .. ·····-··· ... IPeople's (Brooklyn) .•• . •••.•••. .Bonds •••.•••.•••.•••.•••..••. ·Bonds .••..•• .. ••.••• . •••••••. etandard, pref . •••.. • •.••• . •• •. W:llliamsburg . . ........ .• ... ... Bonds ........ . . .. ... . . . .. . ... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ·- - Pertod. 25 2,000,000 Various 20 1,200,000 Various 1,000 250,000 A. & O. 100 3907b000 J. &D. 1 ,000 1,500,000 M.&N. 1,000 ~50,000 F. &A. 100 4,000,000 Q.- F. 1,000 1,000,000 F . &A. 100 3,000,0 00 Q.-J. 300,000 J. & J . 1 ,000,000 J. & J . 100 3,500,000 J. & J . 1,000 1 ,500,000 M.&N. 25 1,000,00C Q.-J. Var's. 700,000 M.&N. 10 1,000,000 Quar. 1,000 3 68,000 M.&N. 94,000 A . .&O. Var's. 100 3 ,000,00 0 Q.- F . 50 1,000,000 Quar. 1,000 1,000,000 A . & O. ··ioo i Pai-. Amount. Pertod. ~ 1s .P➔ ·t Dec. 11, 1889, for Nat ional banks and J a n. 11, 1890, for State banks. Amount. 12 6 6 10 7 7 12 10 20 3 l¼, 5 4 4 5 Oot., '89. 3 Jan., '90. 6 J a n., '90. 3 Jan., '90. 3 J an., ' 90. 6 Jan., '90. 5 May , '89. 6 Jan., '90. 5 Jan., '90. 3¼ A.ug., '89. 4 Jan., '90. 6 A.ug., '89. 5 Jan., '90.10 Jan., ' 90. J an., '90. July , '89. A.ug .,'89. J an., ' 99. *Overall liabilities, including re-insurance, capital and scrip•. ····I Par. 6 10 8 8 10 6 12 ·s··· ·6··· a GAS COMPANIES. July, ' 89. 5 Jan., '90. 3 Jan., '90. 5 6¼ Jan., '90. 3¼, AUJl:.,'89. 4 8 Jan., '89. 6 6 Jan.,'90. 7 14 Oct., '89. 5 10 Jan., '90. 3 6 Jan ., '90. 319 7 Jan. , '90. 5 10 Jan., '89. 5 10 Jan., '90. 3 6 Jan., '90.10 20 Jan. , '90. 5 10 Jan., '90. 4 10 J a n., '90. 5 10 Jan., '87. 3 T" Jan., '90. 3 Jan., '90. 5 10 Jan ., '90. 5 10 Se pt.,'89. 5 10 Jan., '90. 6 12 July,'87. 3 T .. Jan., '90. 3 10 9 10 Date. P➔ ----312 Nov. 1, '89 - 2 50 $1000000 Q'rt'rly. 1,000 900,000 A. &O . 100 900,000 J. & J. 1,000 700,000 J. & J. 100 2,100,000 Q.-J. 1,000 1,500,000 J . & D. 1,000 500,000 J. & J . 1,000 1,000,000 J. & J. 1,000 1.500,000 J. & J . 100 525,000 Q.-J. 1,000 250,000 J. & J. 1,000 100,000 . . •...•. 10 6,000,000 Q.-J. 1,000 800,000 J. & J. 1 ,000 200,000 J. & J. 1 ,000 400,000 J. & J . 1 0 0 1 ,000,000 1,000 400,000 vai-ious 100 600,000 Q.- J. 1,000 250,000 M. & N. 100 1,800,000 Q.-J. 1,000 1,200,000 J. & D. 100 6 50,000 Q.-F. 1,000 l 00,000 A. & O. 100 500,000 . . • • . • • . 75,000 J. & .T. 1 ,000 1 ,000 125,000 J. & J . 100 1,200,000 Q.-F. 500 &c 840,000 J. & D. 100 1,200,000 .F. & A. 100 1,000,00◊ Q.-F. 100 J.,OOo,000 F. & ,A. 100 748,000 M. & N . 1,000 · 236,000 A . & O. 100 2,500,000 ..•. . ••. 1,000 1,200.000 ~- & 8. 1,000 1,600,000 J. & J. 100 170,000 . . • . . • • . 1,000 200,000 F . & A. 100 250,000 Q.-F. 500 500,000 J. & J. 100 800,000 . . • . . • • . 100 1,862,000 J. & J. 1,000 1,600,000 M. & N. 100 1,500,000 Q.-F. 1,000 500,000 J. & J. 100 2,000,000 Various 1,000 3,500,000 J. & J. 100 600,008 · · •· .••. 1,000 250,00 M. & N. ...... 150,000 J. & J . Date. t 1-'s Jan., 1890 5 Oc t., 1909 l\l, Jan., 1890 7 July, 1900 4 Jan., 1890 5 June,1904. 5 July, 1914 1905 5 1924 5 2 Jan., 1890 1889 7 6 1889 1890 an., J 2 5 Jan., 1902 1908 5 1902 6 112 7 A. &O. '80 1~ Jan, 18~0 6 Nov., 192.2 1 Jan., 1890 7 Dec. 1902 1~ Jan., 1890 7 1898 3 Jan., 1890 7 1887 5 1903 2 J an ., 1890 7 June,1893 6 Feb., 1914 2 J a n., 1890 6 F eb., 1914 3 Jan., 1890 7 Apr., 1893 . .•. ... 1910··· 6 6 1915 212 Jan., 1886 5 1906 2 Feb., 1886 7 July, 1894 2 Nov., 1887 1 Jan., 1890 5 1909 l1s J an., 1890 7 July, 1890 6 Nov ., 1889 5 J 'y l, 1937 2¼ F eb., 1890 7 May, 1893 5 J a n. , 190 6 Jan. 2, ' 90 1895-1905 2¼ Dec.15,'89 5 May , 1908 6 Aug., 1901 2 J an.15,'90 6 1899 212 Jan.10,'90 6 1899 3 Jan. 2, '90 2 Jan. 10,'90 6 1902 l¼ Jan. 2,' 90 212 N ov. 1, '89 1¼ D ec. 15 ,'89 5 May, 1907 * The fi gures in this column represent f or stock t h e r ate per cent of 6 Apl. , 1 9 00 ast divid end , for bonds the r ate of mter est per annum. 114 Nov., 1 ~89 2 J a n. 20,'90 l t This column shows last dividend on stock8, and date of maturity 6 1 900 · of bonds. 5 I RAILROAD EARNINGS. MONTHLY EARNINGS OF PRINCIPAL RAILROADS. i=::: :. ::::: ::: :::: :: :: :::: :::}= ~:~:: 1888 •••••••.•..•.•.•••••.•.••..• (296 m.) .• Alabama Great Southern1889..... . .................. (2116 m.) .. Atchison Topeka & Santa .Fe- 1886 ........... ...... (2,404 to 2,437 m.) .. 1887 .•• . •••.•..••... (2,445 to 2,993 m.). 1888 . ... ............ (2,998 to 3,025 m.) .. 1889a ............. . ......... (4,981 m.) .. B1t.Jtimore & Ohio1887 ................ .. ...... . (1,i74 m.) .. 1888 ................ (1,744 to 1,836 m .) .. 1889 .......................... (1,8-!3 m.) .. BurlinlltOn Cedar Rap, & ,No.1886 ................. (990 to 1,006 m.) .. iii::::::::::::: :·.··:·:·:·:·:·:·:·:·:·:·.~Hti ~j:: Canadian Pacific- 1886 ............ .... (8,527 to i.346 m.) .. 1887 ... ............. (4,346 to 1,47d m.) .. 1888... • .... . ...... (4,4711 to 4. 795 m.) .. 1889 ......... . ..... (4.79& 1o 4.957 m.) .. Central of New Jersey- .Jan. $ 94,153 127,790 186,749 16C,800 882,2(,8 1,.:;12,592 1,071.488 1,412,958 Feb. !March. April • -------$ $ $ 96,390 124,505 128,707 145,420 1,057,407 1,236,463 1,069,123 l,87tl,847 May. June. July. $ $ ' Aug, Sept. --- --- 88,872 110,954 116.067 138,526 78.275 114,7811 115.24-8 136,871 Sl:i,345 117,009 111,345 139,294 82,664 115,9i3 120.IH2 143,360 97,756 129,617 122.766 155,238 $ 104,428 137,868 118,868 160,846 l,l!O!l,852 1,261,479 1,762,628 l,684,35S l.283.288 ll,205,l'l50 1,457,049 1,642,888 1,198,173 1,553,719 l,258.91:lR 1,669,207 J,252,754 l,Ml,876 l,336,41U 1,5112,062 1,308,110 1,534,902 t 333.826 1,541,082 1,341,951 1,501,87n 1,31R,744 1,906,972 1,466,248 l,50fl,261 1.411,8 so 2,018,729 98,839 lUJ,213 127,662 154,654 $ Oct. ---Nov. -$ - -Dec. -$ - -Total. $ 15::S.344 180,757 129,523 158,722 158,420 197,0511 1,216,195 1,575,99a 1,549.'2 9 3 1,901,88S 1,687,848 !,674,160 l.560, 743 2,171,508 1,719,855 1,657,078 1,:l60,S71 2,013,734 1,524,92{:I 1,495,954 l,852.~07 *1,911,S'ro 15,984,80'1 18.461.866 15,612.lll 8 20,il6,85:a 131,878 165,107 . ..•.. 1,855,926 1,579,178 1,663,548 1,641,89B l.6tl5,3911 2,031,681 2,054,685 1,948,287 1,799,387 1,669,251 .... . l,464,7P9 1,481,648 1,5i2,152 1,569,516 l,769,18t 1,702,4.89 1,657,555 1,955,450 I ,7tl4,681 1,85a,Ml 1,599,965 1,765,326120.)56.27 1,606,3Jll 1,452,';37 1,701,117 1,652,861 l,74B,818 1,803,187 l,90tl,611 2,144,094 2,068,1126 2,251,b90 l,1160,4U 2,116,283 22,4l2,4~ 177,563 220,208 208.245 205,628 207,548 195,938 221.014 216,128 2U7,853 269,062 280,433 316,204 319,668 330,856 500,858 6i3,493 801.205 897,9::!8 485,458 635,765 835,542 807,'296 895,928 998,348 1122,133 955,963 510,646 719,255 850,31!9 915,493 l,059,50i 1,057,299 1,055,170 1,063,207 837.094 968.523 1.031.587 1,010,01'5 1,180.9913 l,lSfl.355 l,21!<,737 1.130,947 844,046 1, 128,6~ 1,137,427 1,100,099 1,255,361 1,375,528 1,421,765 1,483,407 1,077,630 1,263,006 1,~48.700 1,620,976 241,943 286,'375 209,597 228,259 209,100 235,216 193,176 199,603 211,355 216,788 194 .501 217,716 218,124 217,446 22~,H8 2i6,455 237,634 215,206 209,755 202,163 198,819 ...... ...... ...... ..... 290,670 29ll,589 805,853 776,531 930,891 843,608 995,385 987,349 921,783 988,157 1,049,411 1,187,827 997,120 965,749 950,608 1106,502 1,006,325 1,003,143 1,074,180 1.256.251 l,36ll,315 1,328,212 1,315,868 1,li4,567 900,688 980,234 1,080,021 l,ll:10,930 l,812,59i 1,369,036 1,186,281 1,305,ltlO 1,172,311 1886 . .••••.••••••. •• •.•••..• . (1,022 m.) •. 1887 ................. (1,022 to 1,0117 m.) •. 1888 .... . ..... ...... (!,097 to 1,220 m.) .• 1889. . . . • .. . . . . . .. .. (1,2:.!0 to 1,254 m.) •• 528,067 522.61H 679,%8 690,695 <:.79,920 554,5t8 634,756 658,807 407,593 509,235 662,955 605,609 403,335 386,84R 477,537 499,217 422,844 345,144 449,032 466,593 341\754 892,511 465,761 50;,1,730 895,728 420,4~7 499,003 581,801 451,891 466,18~ 528,783 570,773 538,457 78-1,'i02 616,31\1 852,064 802,020 875,654 901,2115 918,978 704,259 762,106 797,399 828,974 1886..••.•.•..•••........•.•••• (502 m.~ .. 188711 .......................... (i54 m ... 1888d .......... ............. . (754 m.) . . 1889d.............. . .. • l 754 to 915 m .) .. Chlcaao Burlington & Quincy1886 . •••••...•..••. (3,64tl to 4,036 m.). 1887. • • • • • .•.. .•. • ( 4,0313 to 4,o93 m .) •. 1888 ............. .. (4,693 to 4,917 m.) .. 1889 •. . ••...• . •... (4,9l8 to 5,079 m.). Chlcawo & Eastern Illinois1886• . ....................... .. (247 m.) .. 1887 . .......... ... ....... (251 to 256 m.) .. 1888' . ........... ......... .... (256 m.) . 1889• .............. .......... (470 m.) . . hlCallO Milwaukee & St. Paul,1886 •• .••...••••.•... (4,932 to 5,298 m.) . . 1887 . ................ (5,298 to 5,M8 m.) .. 1888 . ................ (5,62l to 5,670 m.) .. 1889 .......................... (5,678 m.l . Chicago & Nol'tbwestern1886 •..•..••••..•.•. (3.891 to 4,037 m.) •• 1887 .............. .... (4,101 to 4,208 m.) •• 1888 . .. ............ (4,208 to 4,250 m.) .. 1889 .. ...................... (4,250 m.) .. Ohle. St. Paul Minn. & Omaha1886 ......................... (1,889 m.) •• 1887 .••••••.•••••••.• (1,365 to 1,398 m.) •. 1888 .•••• ••• . ••...•••......... (1,394 m.) . . 1889. ..... ..... .... ..... . .. .(1,394 m.) .• Cincinnati N. O. & Texas Pac.1886 .••••••••••••.••••....•••• . (836 m.) . 1887 ..••. . •. •..•.•••• .•......... (336 m.) .. 1888 ••••.•••..•••••.••.•.••••••• (836 m.). 1889 .......• .. .• . ...•... ..•.••• . (836 m.) •• 261,169 354,190 4,20,431 442,787 273.241 335,250 381,911:l 425,659 338,154 402,159 425,5{13 435,872 317,162 890,7il 386,27tl 4V5,740 307,293 415,578 420,10! 4,4,1102 822,799 443,22! 895,21b 407,ll95 405,509 414,';09 442,327 578,000 410,966 481,014 478,610 639,000 388,992 473,151 445,728 581,000 372,081 468,2W 478,821 623,235 858,551 453,495 440,000 569,000 1,380,963 1,985,885 1,671.294 l,lllfl,205 l,tlS0,275 1,847,2,35 1.686,519 1,796,001 2,229,172 2,IJ5i,682 1,211,188 2,073,758 1,952.740 2,197,900 1.703,844 1,1158,446 1,981,677 2,t52,07ll 1,749,187 2,108,~61 2,148.532 2,140,83;! l,953.IM4 2,109,207 2,830,741 ,~.748,175 2,167.801 2,382,l03 1.868.501 2,278,703 2.088,150 •2,580,SOtl 2,724,588 2,434,924 2,4'i~. l44 2,49;,,224 2,776,774 2,774,922 2,802,3!3 2,845,673 185,883 155,063 15'7,628 211,866 1211,142 141,289 159,200 208,116 143,023 169,342 162.853 205,377 1,445,174 1,490,\!89 1,452,047 1,655,910 1,663,901 I,521.1!72 1,577,062 1,676,608 2,083,614 2;H2,687 1,930.889 2,019,89 i 1,828,lO'i 1,678,5uo 1,723,1 78 1,634,180 1.571,289 1,676,493 1,618,245 1,500,871J 339.521 371,459 324,885 366,tl84 Chesapeake & Ohio- Whole Erlange1· System- 188'3 .••••...••.....•.••...•• (1,14.0 m.). 1887 ... .. ... .. .. ............ (1,1"'0 m.) . . 1Be8 . ..... ..... .... ... ... ... (1,140 m.) •. 1&!9 ........................ (1,140 m.) . . Cincinnati Washington & Bait,1886• .••••• ••.. ••......•..• • ... (281 m.) .. 1887 ........... ................. (281 m.J •• 18f'8 . .•.•••••••••••• . ..•••.•..•. (281 m.) .• 1889• . .......... . ... ... ......... (281 m.) .. Columbus Hock. Val. & Toledo1886 •••••.•••.••..••••.•.•....•. (325 m.) .. 1887 ..... .•• ..... . ............ . (325 m.) .. 1888 .................... ...... (S25 m.) .. 1889*. . .... ..••.•. •. .•. . •. . •• (825 m.) .. Denver & Rio G1·ande1886 . ••••••. : ••••••.•• . .... (1,317 m.) .. 1887................. (1,317 to 1 ,4111 m.). 1888 ......... ....... . (1,462 to 1,4.67 m.) .. 889 ...•••.•••••••.. (1,481 to l,517m.) .. st Tenn. Va. & Ga,886 .•.•••.•••.••••...•......• (l,098 m.) . 887 .......................... (1,098 m.) .. 888 .• . •••.•••••••.. . (1,098 to 1,140 m.J .. 9 ...••..•..••.•••......•. (1,140 m.) .. lzabeth. Lex. & Big Sandy- ½ffl::::: :: :: ::::::::.: :: :::: :aro :1: 1888 . ......................... (139 m.) . 1889. . . . . . . . . . . . ..... .... ... . (139 m.) •. Flint & Pere Marquette- 1886 • .• ••.. ••••.. •••. .•..••.. •. (361 m.). 1887 .. ..... . , ... . ....... . .... (361 m.) .• 1888 . .... . ... ... ........ (363 to 370 m.) .• 1889 . ...................... . .. . (879 m.) .. DI. Cent.-Ill, Line & So. Div.1886 .••.•••••...••••. (1,666 to 1,953 m.) .. 1887 .............. ....... ..... (1,953 m.) •. 1888 .... .................... (1,953 m.) .• 1889*b...•••...•.••• (2,167 to 2,275 m.) .• Line8 in Iowa- 2,064.222 2,119.199 2,001,329 2,007,204 2,036,727 1,846,4-56 1,924,565 1,977,398 1,971,599 2,007,897 2,078,677 2,212,692 2,553,971 2,359,621 2,478.ltl7 2,550,195 2,798,677 2,800,ti89 2,9J2,491 2,951,840 2,46P,81S 2,6-l0,218 2,615.260 2,737,377 2,'250,241 2,517,769 2.274,481 2,860,5(10 24,718,404 25,366,124 24,867,731 25,898,920 1,986,0'M> 2,334,783 1,897,532 1,893,414 1,720,617 1,839,334 1,954,885 1,837,256 1,947,902 2,118,448 2,146,493 2,328,476 2,746,150 2,102,149 2,ltltt,217 2,249,4t¼ 2,609,794 2.853,642 2,0ll0,253 2,286,97➔ ~.149.666 2,295.291 2,714,274 2,144,942 2,061,054 B,20i,578 2,575,104 2,555,590 2,810,966 2,786,216 2,972,265 2,9;u,8u7 2,362,609 2,650,l90 2,283,424 2,518,452 2,174,554 2,191,562 1,940.1127 2,182,964 25.848,847 27,140,7~ 2:5.1-132.973 2!3,185,28~ 395,600 8tl9.083 438,927 429,178 520,~53 579,735 500,8H 582,525 479,187 510,175 49fl,'M6 450,584 4fi8,925 582,381 472,176 481,441 496,271 550,218 5151.689 478,~34 493,340 56l,lJ85 550.6.~{i 50i,59-l 493,087 591,78::i 605,507 57U,160 618,411 701,76!:S 650,802 5!:!=,5117 tl52,650 7i5.558 741.74-! 758,726 636,122 718,548 615.7110 668,937 563,499 6,153.266 5111J,1tt5 6.940,h78 4'57,576 6,414.422 199,715 265,194 277.ti27 319,878 206,293 252,848 278,281 263,257 243,870 272,258 290,51:13 302,813 20c!.917 246,523 273,667 285,944 195,684 261,75t 300,8tl7 2Q4,418 232,067 270,458 296,221 282,817 259,751 2P,9,l53 32;$,407 328,076 250,9.66 278,61Jl 312,801 866,CXi¾ 256,300 809,917 :J21,154 858,5'1.6 289,920 328,542 3211,780 ti83,d74 272,584 824,116 300,5:m '378,560 271.105 2w8,0117 319,497 378,909 2,882,172 3,::177,551 3,624,490 3,937,657 446,202 574,914 532,743 691,459 440,993 523,082 565.996 595,077 472,398 526,120 575.941 635,367 408,473 466,258 523,207 562,254 874,521 492.351 536,574 577,566 44.9,661 4117,tW· 528,306 570,415 441,222 41!6,001 580,402 tl23,051 464,92~ 530,171 5i5,264 68i,eoo 487,370 614,867 571,612 706,062 610,735] 710,348 677.241 827,0~8 611,892 728,o87 700,967 8ltl,311U 627,871 676,553 730.283 848,753 5.805,774 6,832,223 7.148.58~ 8,136,928 145,665 182,861 170,900 179,344 144,623 172,487 110,9oe 155,217 18!'1,079 183,IJ05 165,534 166,614 142,077 140,647 150,032 150,29:l 144,715 156,7£9 16U,560 155,891 146,200 Hl4,952 154,26:: 159,582 150,820 17;!,J 1~ 162,708 162,314 183,373 205,796 191,86tl 214,278 203,710 218,891! 19d,773 203,841 191,579 2L4,63tl 181,637 18':S,~tl7 187,079 211,677 156,193 197,851 177,129 218,733 187,~ll6 225,138 c2.0l0.400 2,238,004 2.050,534, 2,164,051 166,936 154.,062 211,592 1199,941 204,305 J8U.570 210,0112 186,862 176.460 :!27,607 ~82,335 18-1,187 152,134 219,868 200,1!42 171.653 167,788 188,074 257,686 205,56() 163.300 192,042 251,46..3 204,231 198,llo 11J4,6138 248,155 2U,108 211,406 222,U8l :l83,6i8 239,914 225,604 l314,IJ7tl 296,3~6 230,976 252,102 266,261 8 1.,5,574 241,946 241,352 233,110 253,634 223,386 252,U8 2·l4,153 220.503 184,1196 2.361,403 2,tl2!.0232,893.970 c2,509,51 s 40-1,903 545,650 58!1,437 572,592 427,747 55~.285 514,701 497,077 497,183 603,376 541,846 f-79,608 484,654 5tl5,744 57tl,161 581,046 510,068 6tl,211 657,089 647,71J2 555,386 677,241 678,480 6116,200 610,082 678,170 671,977 7:Z4,09l! 614,639 731,035 705,700 713,885 646,03-.l 753,551 721,27~ 754,54.3 703,1.:60 797,66tl 732,803 8ltl,22U . 648,907 750,4,28 666,860 765,875 635,215 714,134 615,328 "689,500 6,738,078 7.98'.<.420 7.6fl8.fl54, 8.038,386 824,032 422,487 469,444 510,641 341,386 396,283 462,514 513,828 344,023 414.382 444,,667 50:),960 277,376 362.766 416,674 ~30,158 284,152 373,566 4.23.898 415,817 820,398 415,370 438.397 472,771 331,046 424,215 456.59! 491.411 364,811 44.1,7118 470,874 535,074 3114,880 5:>4,41.H 4tl6,tl2::! 577,0lll 456,617 555,212 550,IJ{H 661,661 424,872 515,621 517,561) 624,188 420,619 503,288 497,741 •6:.n,495 4,283.219 5.3211,400 5.615,967 11,403,025 59,278 76,1151 87,800 63,681 68,420 74,499 74,21W 81,638 75,684 65,743 78,581 66,637 67,879 63,128 84,704 75,383 58,792 67,411 93,74. 77,208 56,IJIH 95,846 118,980 93,3-i7 65,452 91,028 100,056 93,314 ti0,208 95,802 1011,70'.' 94,iBe 69,4Chl 90,674 112,635 113,328 77,311~ 89.858 110.634 87,232 152,094 172,904 194,3116 202,062 157,819 173,649 190.585 171,507 201,677 236,973 20>3,474 236,5tl5 203,161 228.973 224,537 201,628 190,670 226,982 218,545 199,335 169,71$8 225,234 186,855 176,272 179,730 223,163 195,659 193,861 168,925 216,477 197,203 lll<i,7tS2 179,155 223,883 182,50-1 181:l,12& 186,394 219,098 204,990 20::l,278 177,816 217,564 193,650 •184,46~ 193,56\1 208,087 205,597 •2011.-a25 2,160.7732,572,IJ3'1 2.403,075. 2,366,083 1}94,799 774,146 793.675 845,538 946,910 970,102 798,761 882,980 877,015 883,366 97q,099 1,099,738 883,679 98 1,057 903,757 888,3tl6 1,016,d97 964.924 973,980 1,061,000 1,074,735 1,061,0411 1,177,834 1,292,419 1,138,885 1,258,194 l,16d,v47 1,4.20,376 1,038,!599 l,191,228 1,165,29~ 1,416,859 1,112,721 1,156,304 l,169,ti56 l,37d,544 10,7'i6.18'1' 11;868,036 11,822,471 14,151,851 ...... ...... ······ 782,749 857,753 820,810 059,948 833,506 956,897 957,803 915,468 879,830 993,852 1,047,147 1,078,878 80,&.16 937,529 91:l,821 1,115,07S 89,481 1,008,689 .... .. ······ 157,608 149,tl86 140,671 153,282 190,038 158,879 192,705 17o,tl89 208,893 180,110 216.tl26 232,492 155,590 168,IJ96 164,938 191,590 149,853 168,798 160,215 199,917 1,753,306 1,678.250 1,&37.769 l,913,tS2'1 95,603 89,82-1 108,llll *99,823 97,459 92,614 106,620 10\J,416 99,956 119,974 101,421-> 109,755 j 117,022 112,869 115,344 13::S,~97 124,254 121,a10 126,6::ll lU,823 133,365 128,673 141,900 171,511 128,845 138,5Qi 125,071 H3,83::i 12B.73i 134,512 l .t2,2.30 *.l43,l26 1,323,625 l,352,52B 1,3i9.834 1,523,760 116,438 145,380 151,220 181,648 128,474 151,443 157,968 186,097 137,415 172,355 166,672 180,87~ 161,666 179,327 179,2811 209,6'.!4 199,109 212,318 284,031 263,1811 184,341 208,244 225,tl4tl 231,51JO 179,788 202,705 2:ll,l57 232,143 146,633 172,646 185,412 206,805 162,390 161,879 199,170 *225,162 cl,724.249, 2,087.3\U 2,167,789 2,515,673 1.103,935 967,740 J,037,714 1,121,192 l,327,519 1,177.748 1,254.00ll 1,260,titll l,261,'~0l? 1,204,415 l,316,3i4 1,866,7110 1,476,878 l,315,ti53 l,:J82,6&0 1,371,~55 1,257,207 l,326,66a 1383 48.l 1:448:4115 1,196,281 1,369,561 l,3!5,92i 1,637,277 l,253,9b0 1,437,908 1,391,834 l,t.!15,419 1,379,828 1,538,706 1,437,054 1,768,496 1,281,91)7 1,501,898 l,8-U,787 1,51!5,416 1,278.717 1,419,562 1,454,222 *1,639,1:!30 13,1178,546. 16,042,138 l6,0t3.l 17,997,074 134,370 183,192 l,;ti,736 198,398 141,14!1 178,120 1116 4'&7 204,921 1114'.678 202,431 2/J l,727 i.214,2:50 190,604 218,78t 226,814 2l7, 152 198,439 223,494 284,81:15 240,003 203,516 il7,369 229,1311 243,tl!:St\ 199,961 217,117 193,339 "197,6i6 161,948 181.639 183,121 *181.tl9J 1,919,191. 2,295.tl25 2,29Z,7!:Jl 2,43-l,976 96,287 117,293 120,967 lll,55tl 77,297 118,447 12U,547 118,539 84,853 111.981 95,463 127,89i 115,1;{6 125,514 119,375 Ial:l,0::l7 122,57d 146,255 120.680 15",,4119 104,001 13:!,725 160,909 178.549 129,t!lO 157,710 175,408 191,023 146 .22! ' 165,176 311,554 364,108 ~87,899 527,670 318,403 894,748 510,1170 564,1\68 274,761 351,235 370,752 ..:.85.9l2 276.533 378,!~4 270,091 371,117 458,785 498,SSi 300,87{1 367,IJto 345,537 471:l.~20 316,053 444,216 451,237 568,364( 379,902 463,089 437,226 570.BSo ½=::: :: :::: :::: :::.:: :::: ::::-~m ~J:: 113,821 139,417 147,057 117,420 118,41v 149,11)9 152,887 170,42i Hl,ll72 204,214 162,691:l 176,269 136,892 151J,85i 178,955 186,396 1886 •••••.•..•••.••.•••••.••.••. (830 m.) .. 1887 .•••.••.••••.••..••••••.•.•• (830m.) .. 1888 . . . . . . . . . . . . . . . . . . . . . . .. (,mo m.) .. 1869 ............ ....... , ...... (830 m,) .. 115,ltl7 156,246 157,940 162,520 106,231 125,375 144,610 162,516 115,171 127,816 121,6.lll 143,441'1 1886e . •••..••....•..••••••.•. (1,236 m.) .. 1887e ..•••••...••....•... ~ ••• (1,236 m.) .. 1888e .............. ..... ... ... (1,236 Ill.) •• 18S9e.••••.•.••...... (1.397 to J ,527 m.) . . 316.875 421,820 512,042 516,672 277,533 386,763 482,164 457.906 844,037 399.974 550,286 564.075 10 ,Udtl 112,12·3 !ig:~~g 177 797 1,444,688 111, '.154 l,i40,550 l SIJ,481 l ,583,M9 .. ... .....• HQ,930 540,056 450,638 *1111,677 8,857,701 4,8Sf3,580 5,506,254 6,317,135 a Includes Chicago J,ine, St. Joseph RR. , Chicago Kansas & Western. New :Mexico & Arizona and 3onora. b Including Mi!!sissippi & Tennessee fro:n May 1. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ······ 123,655 122,774 151,483 127,292 1,049,266 1,170,016 1,280.3115 1,346,52~ Includes Richmond & Alleghany, ...... 1,782,200. 2,071,526 2, 155,31'1. 2,617,019 142,695 126,510 150,687 146,023 1.050,686 l,227,7t19 1,306,817 \,398,t47 d, ...... 167,02i · 184,129 187,1:103 237,845 134,191 133,291 115,803 187,3021 108,492 94,0lS 103,030 107,807 107,295 208,416 lf~.347 207,358 • Approximate figures. ...... ··· ··· l,767,713 1,866,713 1,767,064 1,929,768 112,9.;,f 140,96'1 :411,470 202,321 Mexican Central- 2,256,340 2,368,43l 26,728,408 2,346,834 2,163,388 27,576.078: 2,230,839 2,167,6i4 23,789,1 88, 2,323,590 1,763,8~ 1.971.i,061 1.825.699 l,819,u8l 87,754 152,847 145,407 186,45i Memphis & Charleston- 4,096,048 5,069,48() 5,123,1!31 6,132,6 03. 164,839 200,82t! 11'13.867 245,636 111,628 133,345 124,312 117,180 1886 ••.••..•••••••••••.•••.•..•• (548m.) .. 1887 .... , ............. .......... (548 m.) •. 1888 ..•••••.•••••••••••• (518 to fi89 m.) .. 1889 .. ......................... (589 m.) . . Louisville & Nashville1886 .....•..... ....... . ...... (2,023 m.) .. 1887 ................. (2,023 to 1,1:173 m.) .. 1888. . .... .......... (1,973 to 2,176 m.) . . 1889...... . ......... (2,181 to 2,192 m.) •. Louisville New Alb. & C11ic.1896 . .... ............. .... ...... (520 m.) .. 1887•..•.•••••••••...•... (520 to 537 m.) .. ...... 340,181 40,,716 418,604 •541,598 l'i8,737 208,971 229,374 257,9i7 102,857 97,289 107.IJ54 128,656 ½~t::::::::::: ··:: ·:: :: :::::::fg5g :1: ....... ..... . 631\,519 6,217,267 742,005 6.~61 ,60I> 750,305 7,392,905 171,629 183,421 196,855 236,172 82.907 100,-a6 118,272 l 16,6tll Lnke E1·ie & Western- 992,478 11,424,675 977,212 13,177.471 166,196 lBB,980 209,004 249,184, 128,260 118,553 121,550 13i,478 1889* . ••.•..••.••••.•••• .••.• (600 m.). ...... 141,249 170,315 167.805 207,023 157,774 144,197 157,501 140,28B 1886 •.••..•.•.•.•••••••••••••••. (510 m.). 1887 ............. .. ......... . ... (510 m.) .. ...... 134,285 168,973 17l,0.'12 184,311 129,7711 103,086 147,616 121,048 Iowa Central- 2,933 3 305,8751 3.005,00 268,197 2,818,07 115,183 155,1153 Jfl7,834 184,216 135,557 154,2112 152,458 210,328 . 85,480 118,360 118,571 135,130 t~. :: ::::::::::: ::: :::: :: ::.~!&~ ::~:: 1888 . ................ (402 to tlOO m.) .. 8,)6, 779 1,073,286 894,100 10,081,809 1,286.237 1,151,741 ll,6G6.41S 1.328,964 1,146,441 13,195,5.'3() 1,473,695 *1,238,000 14,982,85'1 614,578 1=::: .: .::: :: :::: :::: :··: ··:: :rn~f ~t: 885,505 1869...... . ..................... (627 m.) .. 1,044,IHo entral RR. &Bkg, Co, of Ga,- • 124,072 158,792 139,207 189,564 c Embracing corrections found necessary after monthly totals ha:1 been published.. e Figures are given in Mexican currency. • - INVESTORS' SUPPLEMENT. MONTHLY EARNINGS OF PRINCIPAL !:lAILROADS-(Concluded). ~- .. AprU. May. June. July. Aug. 248,444 326,214 297,792 352,870 251,450 866,906 817,102 378,045 884,075 200,738 880,462 254,976 298,810 810,106 846,988 204.799 227,142 249,94E< 287,782 126,882 105,900 106,181 127,715 154,fl2!'\ 129,720 1~,957 145,048 Jan. Feb. narcb. - - -· - - - - - - - - - - - --- --aa a a t •nwaukee Lakes. & We111t.1886 .. .......... . ........ (551 to 573 m.) .. ' ' Sept. Oct. Nov. - - --- --- a 248,140 ' • Dec. Total. a --a 167,224 2,817, l8R" . .. ................... (578m.) .. 1~:8: ll!ff............. (592 to 660 m.~ .. 131,5~5 ~~ ........ .. . .. - ......... (660m ... · 178,225 100,582 157,569 145.443 184,182 149,188 247,795 166,436 284,688 160,856 241,500 192,037 2!9,140 199,032 802,432 246,028 812,512 236,132 858,289 299,467 824,2!l8 78,695 117,845 86,600 88,890 120.692 lOR,366 109,284 93,172 142,712 162.071 100,161 109,586 110,519 113,552 102,416 93,58i 121.864 118,677 103,601 107,800 118,788 113,459 118,409 108,945 118,894 106,683 109,634 120,474 150,911 146,017 148,340 182,228 161,854 147,684 H0,600 154,762 149,184 126,414 110,427 •12~,650 1,549,620 1,472,499 1,878,449 1,447,157 184,268 236,015 202,210 284,20S 167,139 200,499 215,992 277,059 166,152 18~,4fl6 203,588 257,052 149,772 154,407 174,lfl2 197,846 159,C{:15 J93,6fl8 210,408 248,579 144,505 176,911 194,468 216,807 174,306 155,585 174,856 234,410 175,668 204,671 242,948 262,481 179,282 192,779 181,77Sl 261,641 207,000 *228,865 *2Jl),0!4 *29!.,692 254,781 288,~ 277,445 2,251, 889 2,579,645 2,606,282 8,049, 888 185,519 242,094 184,652 249,461 248,885 275,t\27 187.850 245,738 257.133 290,889 172,812 222,720 232,2fl3 258,288 172,330 258,201 252,797 287,8;!2 178,1811 241,071 22?,181 259,175 215,256 258,877 262,584 2ll9,209 i886 ............ : ... . .. ...... (1,44lm.l .. 2,2@5,095 2,~87,839 2,759,266 2,868,544 :ll.887 .. , ........ . .. .... (1,441 to 1,4~7m.) .. 2,714,711) 2,454,831 2,1!19,810 2,901,740 '1888 ................. (1.447 to 1,420 m.) .. 2,716.704 2,586,488 2,8411,609 2,748,7i7 2,710,UiO 2,461,730 2,861,5U9 2,742,37:.l 2,542.tJ22 2,887,020 2,824.84-1 2,892,851 2,661,245 2,8!7,614 2,896,216 8,lll,448 2,677,626 2,110,10e 2,850,191 2,951,919 Cl~Pf!al)olts & St. Louts- . 1=:::::::~::::::::::::::::::j~}:t: "1.BAA ............................ (851 m.) •. 1889 ............ , ............... (851 m.) .. meblle & Ohio- =t::::::::::::::: :::::: ::::::~~~ :t: 1=·:::::::::::: ·::.:::: :: ::.::i~i ::~:: a111hvllle Chatt. & St. Louis- 1886.................... (580 to 600 m.) .• 1887 .................. .. (600 to 627 m.) • · 1888 ........ .... ; ....... (627 to 650 m.) .. ,- 1889 ........... ............... (652 m.) .. ~g:~ Y. Central &Hud. Riv.- 181,323 8,180,68 100,161 2.886,78, 250,401 c3,484,17t 289,079 287,024 259,677 312,498 321,701 223,311 270,U.8 271,179 800,210 213,200 265.024 282,621 809,51 1 218,769 259,625 261,571 298,989 229,946 275,482 285,125 809,265 2,400,771 8,055,91 7 3,125,280 8,500,725 2,980,974 ,8,058,548 8,332,821 8,438,G55 8,278,771 8,366,100 8,400,984 i8'81!2,298 8,190,861 8,534,900 8,175,i96 8,486,816 2,885,832 8.2M,304 2,994,242 8,113,405 2,945,063 3,229,021 3,000,851 2,081,581 32,651,01 5 86,296,024 85,288,584 36,056,5118 224,487 272,481 272,185 328,640 1~v orii ·c:aiie 'E·rie·& <~!~t~l:· 1,581,604 1,551.486 1,793,221 1,741,356 1,951,877 1.887.505 1,985,366 2,051.695 2,239,877 2,284,859 itl86g .. ..................... ,1,622 m.) .. 2,048,512 1,985,149 28,002,50 = ·.:::·::::::::·:::::::::::Nai1::::J: 1,718.428 l,>-80,477 1,952,824 1,928,276 2,179,957 2,081,053 2,169.914 2,222,012 2,177,449 t,3l0,S58 2,072,644 1,942,590 24,666,01 1,747,076 1,551,4913 1,917,141} 1,778,825 1,997,811 2,105,709 2,819,56S 2,529,846 2,292,609 2,554,884 2,252,~94 1887g ........................ (l,618m.) .. l.705,070 1,761,182 l,946,403 1,868,122 2,098,955 2,066,573 2,131,200 2,180,675 2,188,657 2.309,215 2,188,249 2,029,985 24.464, ...... ·Sew k' ork & .New England- 1886 .......................... llffl4 m.) .. 1887 ...... ............... (447 to 490 m.) .. "1888 . .. . ........................ (490 m.) .. 1889. .... .... . . ............. (490 m.) .. ·1JNew York Susq. & West.1886 ..... ..... ................ (157 m.) •. .'1881 . .......................... (157 m.) .. 11.888 . .......................... (157 m.) .. 1869 ......................... (157 m.) .. 01•folk & Western-1886 .................... (511 to 533 m.) .. J~::::~:::::::::::::::::::::::~~!::~:· 1889 .... ...... ... ... .... (594 to 602 m.) .. orthern Central- 1886 ... . ........ . .............. (82:3 m.) .. 1887 . ........................... (877 m.) .. ~::: :: :: :: ::~::::: :::::::· :::lll:/ ::?: : orthern Pacific- 270,924 86!,518 886,953 385.713 320,882 430,097 ;-378,440 422.S04 314,504 411,351 410,825 422,113 803,314 876,657 424.439 476,024 814,316 400,598 450,070 479,880 845,502 409,861 464,991 492,0611 379,544 475,471 510,308 537,443 390,772 484,232 501,128 518,924 881,180 469,883 526,447 53:<,346 847.703 448,4tl5 459,Mfl 401,848 820,786 8,956,81 425,857 5,054,27 429,869 5,840,06 81,650 84,596 1111,527 103.24i 74.P82 98,311 116,864 81,470 8&,179 112,oSS 106,154. 91,02{1 87,316 107,171 F6,881 9:3,471:1 87,204 107,770 96,471 110,526 97,841 84,057 106,284 118,968 113,639 123,287 116,1€0 140,801 94,846 181,475 146,655 145,865 102,817 l!'ll,023 130,445 123,274 109,8£18 181,469 136,184 1 ::!4,512 107,785 129,904 126,600 188,345 112,545 1,129,440 185,645 1,895,184 128,694 1,445,901 218,907 279,805 &s0,801 3~8,065 221,789 299,304 850,76S 403,019 277,307 822,470 416,342 44::1,285 267,559 322,691 896,512 417,1!60 235,701 821,814 408,71:8 429,511 228.126 3H4,200 870,76i 485,904 256,280 834,764 407.~86 457,730 287,407 385.032 432,92d 517,567 319,225 404,7Ja4 430,210 488,046 884,7.12 438,851 46i,776 573,814 887,708 410,211 4ll7,61l6 527,819 400,123 514,947 452,441 464,7411 430,961 488,990 4M,751 485,191 460,147 514.022 426,081 471,20(1 411,397 518,560 48fl.tH4 425,171 447,236 405,670 528,996 502,437 432,536 55/1,404 551,260 416,553 449,461 536,386 582,845 5!8,804 502,027 608,628 600,:!05 588,086 472,944 452,632 5tt6,205 508,555 516,825 501,294 5!i6,846 630,884 498,150 542,45~ 488,114 528,151 1,077,356 1,100,026 1,149,102 1,202,576 1,610,J:-!7 l,f.03,585 1,797,:177 1,925.894 1,226,858 l,291,,!i86 1,065,291 2,091,471 1,872,678 1,408,:no 1,711,275 2,125,291 1,448,667 1,674,881 2,260,656 2,685,102 1886 .... . ............ (2,741 to .2,892 m.) . . 480,830 594,240 858,116 993,484 988,731 11887 .••••.•••••••.•.. (2,81¾5 to 8,277 m.l .. 571,421 525,728 1,080,679 l,121,00tt 1,049,2 18 :a.888 ................. (8,277 to 8,408 m.) .. 708,607 9H6,0H5 1,207,176 1,444,868 1,537,289 ~ ................. (3,506 to 8,514 m.) .. 1,188,898 1,193,159 1,626,9114 l,653,418 1,632,186 bio & Mississippi- 1886.. . . . . . . . . . . .. . . . . .. . . ..... (616 m.) .. 1887....... .. . . . . . ............ (616 ::n.). - 1888 .... ...... .. . ... ............ (623 m.) . . 188U . . .. .. ........... . .......... (623 m.) .. v.orearon Railway & Nav. Co.l886 ............ ........ (685 to 742 m.). ~rl.887 ............... ..... (742 to 752m.) . . 11888 ................. . .. (752 to 855 m.) .. '18811 ....... .. ... . ..... (855to 942 m.) .. ...... 266,984 857,787 891,5311 412,571 ..... ...... ..... 267,837 406,428 409,727 *477,940 8,252,0 4,tM,711 4,899,5 5,569,6l 457,809 5,474,61 400,286 499,588 ...... mu~· ...... 899,665 12,829,55 1,299,906 l,~fl,140 1,181,773 13,854,32 1,898,612 1,41:1 1,523 18,0d0,10 2,l:!26,781 "1,612,748 :&l,7o:1,25 ~74,180 295,2HI 804,827 818,92~ 274,430 311,0-.!8 290,678 289,265 305,759 390,697 292,9:lO 809,568 270,1981 300,294 270,0791 298,459 298,035 296, 162 29.J,701 318,970 308,119 297,924 289.813 296,523 385,431 322,692 275,591 311,078 878,100 409,9ll 379,185 412,605 393,261 408,054 89\i,602 896,1194 867.747 413,137 884,378 414,687 825,654 887,828 291,588 861,8!8 284,618 274,~59 272,598 856,199 805,784 240,810 44 5.247 862,745 420,858 457,103 558,783 454,756 407,973 437,548 478,0531 438,164 480,34.5 426,428 507,550 513,615 481,735 444,731 580,69i 541,473 421.881 414,874 528,094 570,959 460,081 422,776 568 211 542,259 556,053 487,246 623,089 587,293 653,300 615,046 731,719 687,763 519,182 616,057 615,2,8 t>1,:_ri,rJ::-:Js't~f P ittsbur~ & Erie)1886 ............... tt2,250 to 2,822 m.) .. 8,421,536 8,549,475 3,001,855 3,862,61714,178,580 4,336,101 4.356,677 4,585,390 4,IJ74,052 4,787,851 ...... ...... 296,918 345,919 401,122 *861,667 8,827,88·2 4,128, 865 3,!-168,9l:S4 4,085,27 1 408,152 5,34.4,962 539,849 5,876,~ 7 525,584 6,879.797 ...... ..... 4,847,218 4,428,216 50,379,068 iltl87............... ( t2,822 to ~,846 m.) .. ;J,851,771 8,988,788 4,410,438 4,342,834 4,H65,040 4,911,858 4,654.,370 5,022,012 5.00tl,56:::! 4,989,521 4,735,154 4,892,954 55,671,111 8 til88 ............. (t2,846 to 2,869 m.) .. 4.193,981 4 ,379,454 4,52f\,5ts2 4,650,046 .5,027,760 5,080,402 4,822,412 5,890,939 5,285,427 5,146,158 4,860,85t 4,808,082 58,172,0'i 7 188{) ......................... (2.8611 m.) .. 4,528,746 4,421,156 4,796,186 5,082,870 5,294,810 3,981,020 5,241,674 5,9J3,961 5,421!,733 5,857,772 5,4112,800 Rlchmo»d & Danville !!lystem- 61l8,828 831,640 925,472 784,677 867,171 886,748 68,508 6o,576 84,257 88,566 84,912 79,630 92,859 8J,990 82,160 i6,S65 83,002 76,831 53,714 44,883 57,864 68,007 80,017 66,873 69,829 74,883 78,527 50,148 67,960 75,2'Z6 i=:::::::::::::::: ·:::::::::l~ ::] :: 93,S.'32 110,281 138,269 144,862 105,618 103,720 129,914 HJ2,002 122.041 184,764 133,803 170,709 84,574 49,941:l 50,674 72,467 42,808 71,723 ill::lilll 45,837 55,488 52,858 88,639 40,683 56,807 46,961 72,415 184,576 213,198 25J,812 201,640 224,v58 208,923 251,661 207,335 234,1211 58,181 74,085 78,840 78,608 61,187 66,846 77,668 80,263 125,691 1611,024 214,470 268,748 '1lrirtnta Midland- il.888 .. . . . .. ............... (855 m.) .. 1889 . ......................... (855 m.) •. 4Vestern North Carolina- l&tl ... .............. (274 to 200 m.) .• • ................... (200 m.). ,1888......................... , (200 m.) •• 1889 ......................... (28·7 m.) . ome Watertown & Ogd'bu1•gi 1887. . .. .. ...... 1~7•... ............. (2,525 to 2,U09 m.) • 1888. . ... ...... . .... (2,609 to 2,683 m.) .. ..1889 .... .... . ....... 2,o83 to 2,749 m.) .. .Charlotte Col. & Augusto.· ltl86 ....................... c:n8 m.). J.887 ......................... (378 m.) •. •1888 .. •• • .. .. . . • ... • .. ...... (878 m.) .. 1889 ..... ................... (8148 m.) .. 4Columbla & Greenville1886.......................... (296 m.) .. ,1887..... ...... • ••••••••••.. (296 m.) .. U.888... ......... .. . .. ....... (2116 m.) •. 1881! ....................... .. (296 m.) .. t~k :::::::::. ·:::::·:.::::::: :rn:~ ::~:: 1889 .. ...... ............ ...... (648 m.) .. -tlt. L. Alton & T. H. Branches- 1886 .................... (lStl to 188 m.) •. 1887 . .......................... (188 m.;. 1888......... . ..... ... . ,(208 to 242 m.) •. 11:l811·.......................... (l:'42m.) •. t . 1 .oul8 Arkansas & Texas1886 .......... .. ................ (775 m.) •. .1887 . ................... (776 to 940 m.) . . .1888 ................ (1,162 to 1,215 ID) •• 11889•. • .. . • . • • . . • • • • • • •••.. •• (1;262 m.) •• • ii...,oul• & iso.n Francisco..lB&S.. ••• •• •••••••••••.. (815 to U30 m.) •. a.887-···" .... ...... (968 to 1,190 m.J •. ~ ................ (1,212 to 1,329 m.) .. -;J.889 ..... ............. ....... (1,829 m.) .. 18t. t"aul & DuJ ■ th1886 .. .......................... (225 m.) •. -•iJ.887 ............. . ......... .. . . (22:•m.) .. l.888 .... . ........ ..... (280 to 249 m.) .• 1889•. . .. . .. . .. . • . .. . . . . . . . . ... (247 m.J .. <@&. Paul Mlnn. & Manitoba.1886 . .. ............. (1,475 to 1,800 m.) •. .. ..1887" ................ (1,850 to 2,651 m.) •. . 1888• ..... ...... .. ... (2,651 to 8,0JO m.) •. I 1.~ • .,., •,. ..... • •• • • • • . ., • (8,Q30 m.) •. ~ outhern Pacific Co.- · ~ .... .. .......... (4,696to4,940m.) •• 1.887 .............. (.f>,408 to 5,645 m.) ., 1888 ...... .......... (5,576 to 5,931 m.) •• 1889 ... ... . ........ (5,946 to 6,08!:! m.) .. exn• & Pacific- ~ ......................... (l,487m.) .. 887 .. .............. . ... ..... (1,487 m.) . . 8t!8 . ............... . ........ (1,497 m.) .. 417~f:;· Paeiiic'..:: ......... ..<1'4117 m.> •. ...... 807,088 973,770 1,056,989 887,270 9,592,839 951,881 83!,040 875,732 1,080,884 0a0,779 9~5,100 to,154,524 9.:l8,623 1,088,487 1,170,654 1,102,579 •1,110,675 11,480,575 662,807 741,845 825,853 676,159 678,079 770,809 699.562 738,742 8~6,605 58,862 54,089 57,470 60,178 47,877 40,827 58,042 59,247 44,481! 50,884 49,704 53,225 49,246 55,223 67.595 75,174 51,573 60,703 71,49;5 (i9,068 61,880 86.931 62,158 71,424 91,972 109,228 104,411 ll!,475 85,161 93,675 93,495 8ts,:J72 67,804 85,835 89,774 *88,600 783,444 870,41 918,75 895,65 41,003 30,649 85,884 42,169 29,316 27,503 3i,776 41,025 24,052 25,089 82,557 38,50!) 28,219 29,910 86,897 43,804 37,547 37,854 49,061 56,038 41,846 60,726 42,427 63,578 78,140 65,801 75,719 87,i50 68,050 72,740 77,712 90,4i6 54,898 61,278 71,939 * 19,900 610, 562, 645,6 770,28 126,327 122,580 121,488 189,677 144,988 150,232 170,718 185,420 121,008 187,668 151,079 160,059 125,521 188,':97 154,928 200,214 155,028 151,1.:194 171,810 192,220 171.266 172,776 161:1,425 205,867 164,614 161,5M 168,856 210,815 187,087 144,256 154,512 191,444 32,713 57,384. 62,724 69,11l5 44,028 59,1151 4~.578 65,3110 43,068 55,900 48,940 62;~8 49,181! 68,795 56,657 78,636 60,866 68,555 55,726 71,7b8 52,757 62,804 69,690 76,2ll8 48,277 50,585 67,249 71,888 287,986 251,507 2tll,808 2.35,251 21H,617 272,936 272,317 297,226 281,879 291,480 300,89~ 848,4t,8 347,774 853,362 391,925 33/J,152 324,129 ~32,8~2 816,802 8.12,849 355,741 280,847 291,281 821,871 264,161 8,222,607 267,868 8,358,104 *293,765 3,578,8 60,410 76,562 74,4.87 85,816 41,288 i6,267 64,541 72,358 54,006 67,845 70,849 81,829 53,270 63.606 &1,211 84,851 67,188 69,162 65,104 78,6'18 72,006 84,700 78,308 101,1~8 78,695 94,975 S7,579 110,995 88,773 106,136 97,61)4 125,480 80,440 ll3,1S8 82,108 •1os.~o 88,602 808,991 89,858 002,480 106,422 949,80'7 *103,454 1,106,250 188,282 164,6li6 220.162 247,957 143,4.86 182,869 202,121 228,811 88,203 139,786 172,782 209,825 108,378 173,718 209,065 232,1130 126,234 188,587 228,131 247,128 149,502 190,185 219,130 264,566 145,24.7 221,088 271.788 814,118 165,579 285,032 287,32; 87t4,601 182,707 847,458 874,728 542,679 208,583 524,658 828,61)5 460,298 236,61-4 291,427 3M,".!60 487,538 1,818,406 2,670,568 8,073,84 8,001, 275,318 359,172 890,1!20 424,705 285,544 881,220 396,108 409,868 859,062 554,407 446,485 45l3,402 352,269 473,261 890,4.88 423,149 854,809 481,072 402.890 431,5!1 419,467 479,772 494,002 431,850 403,267 527,372 454,880 50!!,577 460,048 587,376 537,468 578,1101 479,565 598.496 577,799 582,531 519,494 619,181 600,686 657,150 459,748 682,269 546,075 568,798 504,041 640,747 585,506 •5w,873 4,874,697 6,229, 5,778,251 6,048,84 gz:~ 64,oll 67,385 81,913 i~:gi~ 82,376 89,763 92,581 79,:ffiO ~8,958 93,016 104,561 84,812 116,650 144,856 182,448 102,774 154,003 167,397 150,1166 106,596 1811,l~ 161,272 181,595 120,357 156,452 155,097 165,635 129,7671 210,721 185,512 170,7d4 139,046 212,285 206,484 169,llP5 180,900 147,849 177,1112 118,487 125,788 115,651 182,981 88,500 *89,569 1,558,086 1,~94,840 cl,524,918 1,290,097 410,157 484,809 552,012 482,287 601,910 679,803 736,729 642,552 616,756 686,657 810,850 665,098 483,462 572,517 748,455 620,180 479,694 618,080 765,124 5~3,597 571,526 621,844 825,268 688,789 950,057 ~·.it1 t~:~gg 1,061,800 789,995 805,314 972,672 810,514 1,169,848 940,857 645,182[ 959,678 1,240,155 1,221,126 700,161 905,264 858,129 780,6011 7,427,&.1b 8,736,804 9,281,884 8,833,223 2,008,420 2,456,197 2,409,122 2,508,052 2,289,649 8,085,814 8,246,765 8,462,791 8,892,81i0 3,514,772 3,148,628 8,452,029 2,553,673 8,034,525 8,867,895 8,745,318 64,968 405,539 459,250 482,~1 894,000 429,370 432,778 778,218 :665,595 828,095 734,117 98'1,588 840,537 861,058 g~:i~~ :~:&~1 m:~g8 424,1181 477,685 ,531,898 422,789 877,053 438,056 469,973 0 113,075 148,788 148,361 1,824,6' *166,000 2,180,7: A:ffl:f 42,165 52,541 63,036 *73,400 685,9 682,7£ 668,9', 868,5~ 2,789,225 2,591,729 2,717,197 2,807,61118,045,985 2,975,812 2,900,641 2,904,54.6 32,110,158 3,295,169 3,051,988 3,208,801 3,716,578 8,411,828 3,912,714 8,785,224 8,632,809 38,773,146 4,528,751 4,170,715 8,977,693 46,699,b, 3,864,297 3,721,71413,739,659 1 4,624,l::!tS 4,126,053 8,751,9713,664,7684,026,134 t~rA::~ !:~~:~Ji 449,908 336,448 472,005 459,282 396,Si61 385,076 1 454,246 446,6261 426,120 400,95H 472,927 464,668 443,511 478,823 485,477 507,743 568,567 548,377 526,490 559,437 ...... 65l,692 728,868 ~.115 814,165 714,511 787,001 650,287 734,573 709,492 689,970 658,87l 769,1171 ..... c6,042,SOe 6,188,761i 6,874,886 c6,887,tU6 1886 ..... ........... (4,519 to 4,594 m.) •. 1,428,029 1,635,1411,954,208 2,113,440 2,211,448 2,263,821 2,442,0n8 2,587,731 2,517,793 2,755,154 2,851,431 2,343,543 26,608,797 l887 ................. (4,694 to 4,771 mf. 1,787,353 1,675,914 2,571,365 2,842,155 2, 188,277 2,50tt,828 2,470,lJ72 2,086,599 2,74.3,980 2,934,466 2,597,585 2,243,872 28,557,766 to 4,816 m •.. 1,727,882 1,917,938 2,513,108 2,589,243 2.812, 191 2,488,268 2,54~ ,064. 2,5~7,356 2,667,905 2,il51,254 2,686,238 2,380,426 29,260,824 1889 ......... ....... (4,816 to 5,180 m.) .. 1,918,108 l,745,7o8 2,111,084 2,153,288 2,841,715 2,508,289 2,716,57d 8,014,138 2,993,523 8,!:18i.,820 _2,8i9,408 , ,1888 ••• .............. (4,705 Wisconsin Cenn-nl1 1~L.::::::::,.:·.::: :: :: :: :.:J~rn :1: · 1589, ........................... (828m.J .. .. ... 216,5S5 228,012 250,588 221,422 255,472 231,032 842,790 294,458 830,428 285.8!8 286,523 2116,381 1 268.7101 334,317 352,049 303,617 816,221 ' 327,606 811,290 328,202 ' 371,661 357,573 877,929 449,581 868,688 385,320 429,7fJi:i 895,784 424,811 459,406 885,539 885,706 4Ul,686 .. 278,189 8,728,108 273,270 8,808,941) *374,785 4,277,759 • Apprommate ftgures. t And 66 miles of canal. fl Earnings for all the year.; are ~ven after deducting proportions due to leased roads operated on a 11ercentage be.sis. This was the method formerly Qll-Ul'&Ued by the company, and we continue It, so os to make ·the basis of compa.rlsoiici'orrect... L .c Emb·acing corrections found necessary after montblJ totals ha.d been publlshed. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, 1890,] INVESTORS' INIJEX TO SUPPLEMENT. NAMES OF 137 RAILROADS. With the numerous cha.nges which a.re consta.ntly taking pla.ce in the titles of va.rious railroa.d compa.nies by reason of ·f o~closures, consolida.tions, &c., it frequently occurs that much difficulty may be experienced in looking up the naqie of a ·former company in the tables of the SUPPLEMENT. To obviate this difficulty, and to facilitate reference to any name, whether ,new or old, the following index has been prepared : FORMER NAME. WILL NOW BE FOUND UNDER- ..labama Central ••...........••.••. East Tenn. Vir~a & Georgia. ; lbermarle & Ralei!l;h ....••..••...•. Wilmington & Wddon . .Alb~ Knoxville & Des Moines . .•... Chicago Burlington & Quincy. Allegany Central. .................•. Lackawanna & Southwestern. .Amador Branch .••..•••.•••..•..••.. Northern California. American Dock & Imnrovem't Co ... Central of New Jersey. Androscoggin & Kennebec .......... Maine Central. .Ashtabula & Pittsburg ••..•••••.•.• Pittsburg Y,.mngstown & Ashtabula. Atchison & Nebraska ........ a ••••••• Chicago Burlin~on. & Quincy. Atchison &.Pike's Peak . ............. Central Branch union Pacific. Atlantic & Great Western ........... New York Pennsylvania & Ohio. AtlantlC & Gulf ...................... Savannah Florida & Western. Atlantic Mississippi & Ohio ......... Norfolk & Western. Atlantic & Northwest ........••...•. Canadian Pacific. Augusta & Knoxville .••..••...•..•.. Port Royal & Western 0arollna.. Bellefontaine & Indiana............. Cleveland Cin. Chic. & St. Louis. B elleville & Carondelet .••..•...•... Sr. Louis Alton & Terre Haute. Bellevllle C1:nt,ralia & Eastern .••••• Louisville Evansv. & St. L. Consol. Bellevi,le & Eidorado ..••••..•...•••. St. Louis A.lton & Terre Haute. Belleville & Southern Illinois .•••••. St.Louis Alton & Terre Haute. Bell's Gap ...•...•............. ....•. Beloit & Madison .................... Chicago & Northwestern. Booneville Bridge ..................•. l\Hssouri Kansas & Texas. Boston Barre & Gardner . .....•..... Fitchburg. Boston Olin Fitch. & New Bed ..... Old Colony. Boston Concord & Montreal. •.•..•. Concord & Montreal. Boston Hartford & Erie ....... .. .... New York & NewEligland. Boston Hoosac Tunr..el & Western .. Fitchburg. Boston Providence & Fishkill.. ..... New York & New England. Brooklyn & Montauk ............... Long Island. Brunswirk & Wt1stern ...• ••.•••..•. Savannah Florida & WtHtern. B uifalo & Erie ........................ Lake Shore & Michigan Southern. Buffalo New York & Phila1lelphia ... Western ~ew York & Pennsylvania. Buffalo Pittsbur~ & Western ........ Western New York & Pennsylvania. 1 Burlington & Missouri River .. ....•. Chicago Burlington & Quincy. Burlington & Southwestern ...•..••. Ohicago Burlington' & Quincy. Cairo Arkansas & Texas .......•..... Missouri Pacific, St. L. I. M. & So. Oairo & Fulton ....................... Missouri Pacific, St. L. I. M. &So. Cairo & St. Louis ..•.••••.. ... .•..••. St. Louis & Uairo. Cairo & Vincennes .•..........•..••. Cairo Vincennes & Chicago. Califorrua & Oregon ................ . Central Pacific. California Southern .. •••.... . ....... Atchison Topeka & SantaJFe. Camden & Amboy .................... United New .Jersey. Canada Central .... ..•..•....•...•. .. Canadian Pacific. Carbondale & Sh'l.wneetown .. .. .• •. St. L mis Alton & Terre Haute. Ce1ar Rapids & Clinton . . . .. ..•... .. Burlington Ced·,J,r R::tpids & N. Cedar Rapids Iowa FaUs & N. W .... Burlington Cedar Rapids & N. CectarRwids & Missouri River ..•.. Chicago & N'orthwestern. Cent.ral Iowa .•......• ..•...•..••. ... Iowa Central. Central W ashinJl."ton .••..•••.•...••.. N ~rthern Pacific. Cherry Valley Sharon & Albany . .•. D6laware & Hudson Canal. Chicago Clinton Dubuque& Minn .. Chlo. M. & St. Paul. Chicajro & Great Eastern ...•........ Chicago St. Louis & Pittsburg. Chicago & .Illinois River ..•....•..... Chicago & Alton. Chicago & Indiana Coal. ..•...•. .••. Chica.~o & E ,stern Illinoiij. Chica~o !owa & Nebraska .. .•....... Chicago & Northwestern. Chicago Kansas & Nebraska ..... .•. Chicago Rook Island & Pacific. (,'hira~o Kansas & Western ......••.. Atchison Topeka & Santa Fe. Chicago & Michigan Lake Shore .... Chicago & West Michigan. Chicago Milwaukee & N. W .••..••.. Chicago & Northwestern. Chicago &·Milwaukee ................ Chicago & Northwest. Chicago & Ohio River ............... Chicago & Northwestern. Chicago & Pacific .........•...••.... Chicago Milwaukee & St. Paul. Chicago Peoria & St. Louis. . . . . . . • .Jacksonville Southeastern. Chicago Rockford & Northern .. ••... Chica.go & Iowa. Chicago Santa Fe & California. ..••.. Atchison Topeka·& Santa Fe. Ctiicarn & St. Louis . .•••.•••..••..•. A.tchison Topeka & Santa. Fe. &. C~cago St. Lo14s & New Orleans ... Illinois .central. 11 Chic ➔ go St. Lome & Paducah . ••••••. St. LoUlS Alton & Terre Haute. 1 Chicago St. Paul & Minn ..•.•.••...•. Ch~c. St. Paul Minn. & Om3!ha.. Chtca.g;o & So°:thwestern ............ Ch!ca,go Rock Island & Pa.cifio. . Chicago & Sprmgfield ................ Illinois Central. .E·::-chtcago & Tomah .••• ..•..••..•••.••• Chicago & Northwestern. C.hlcago Wisconsin & Minnesota .••. Wisconsin Cent. Co. Cincinnati & Chicago Air Line .•••.. <.Jhioago 9t. Louis & Pittsburg. Cincinnati & Eastern ..••••• ..••..•. Ohio & Northwestern. Cincinnati Hamilton & Indianapolis. Cincinnati Hamilton & Dayton. Cincinnati & Indiana ................ Cleveland Cin. Chic. & St. Louis. Cin,1innati Ind. St. Louis & Chic .••. Cleveland Cin. Chic. & St. Louis. CiRcinnati Lafayette & Chicago ..•. Cleveland Cin. Chic. & St. Louis. Cincinnati Southern . ................ City of Cincinnati. Cincinnati Van Wert & Michigan ... Cincinnati Jackson & Mackinaw. Cincinnati Wash. & Baltimore ..•... Baltimore& Ohio Bou· hwestern. Clarksville & North Carollna ........ Richmond & D.:1,nville. Cleartt.eld & Jefl'ermn ..• •....... .•.• Cleveland Columbus Cin. & Ind .. .. Cleveland Cin. Chic. & St. Louis. Cleveland Mt. Vernon & Delaware .. Cleveland Akron & Columbus. Cleveland Painesville & Ashtabula .. Lake Shore & Michigan Southern. Cleveland & Toledo ..• ..... .......... Lake Shore & Michigan Southern. Cleve!. Tuscarawas V. & Wheeling .. Clevehmd Lorain & Wheeling. Coeur d'Alene ••...•..••..••.•••..••. Northern Pacific. Columbia & Augusta•.....•••..••.••. Charlotte Columbia & Augusta. • Col. Chicago & Indiana Central ..... Chicago St. Louis & Pittsburg. •-.Columbus & Indianapolis Central. .. Chicago St. Louis & Pittsburg. Columbus & Rome ......• •••...•.•••. Savannah & Western. • tJ'>lumbus & Toledo .•••..•.•.......•. Col. Hocking Valley & Toledo. C 1lumbus & Western .•••..•...•••••• ~Jl,vannah & Western. c ~ncord . ............................. €oncord & Montreal. \Jonneoticut Western ••••.•••••••.••. Harttord & Cormecticut Western. Con notton Valley ..... •••..••... ••. . Cleveland & Canton. Consolidated Vermont .•....•.......• Central of Vermont. Corpus Christi San D. & Rio G .•••.. Mexican National. Covington & Lexington ..•.......... Kentucky Central. Cowley Sumner & Fort Smith ..••..• Atchison Topeka & Santa Fe. · Current River . ••..•••.••••••..••...•• Kansaa City Fort Scott & Memphis D akota Central. .•••.•••..••..•••.••. Chicago & No. West. Dakota & Great Southern .•••.•• .... Chicago Milwaukee & St. Paul, Danville & Grape Creek ..••.•••.••.• Chic. & East Illinois. Danville Olney & Ohio River ...•... Chioago & Ohio River. Danville & Vincennes ......••..•.... Chicago & East. Illinois. Davenport & Northwest ...•......... Chicago Milwaukee & St. Paul. Dayton & Ironton ..•................ Dayton Fort Wayne & Chicago. Decatur & East St. Louis ....... ..... Wabash. Denver Memphis & Atlantic .•••.... Missouri P1rniftc. · Denver & New Orleans ..•••.•••..•. Denver Tex1ts & Gulf. Denver Pacific ....................... Union Pacific. Denver & Rio Grande Western ..• ••• Rio Grande Western. Denver South Park & Pacific .•••... Union Pacific. Denver Western & Pacific •••••••••• Union Pacific. i, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FORMER NAME. WILL NOW BE FOUND UNDER- Des Moines & Minneapolis ..•...•... Chicago. & No. Western • Detroit & Bay Citv ......••.•....•. .. Micbi~an f1entral. Detroit M'\Ckinao & Marquette ..••. Duluth South Sb.ore & Atl tio. Detroit & Milwaukee ......•...•..•.. Detroit Grand Haven & Milwaukee. Detroit Monroe & Toledo ......•..... Lake Shore & Michigan Southern. Dexter & Newport ..•...•..••..••.... Maine Central. Dixon Peoria & Hannibal. ..... ..... Chicago Burlington & Quincy. Dubuque Southwestern ....••....... Chicago Milwaukee & St. Paffl. Duck River.... . • . . . . . . . . . . ••. . . . . . .Nashville Chattanooga & St. Lout&. Duluth & Manitoba .•......••..•••.. Northern Pacific. Duluth Short Line .......•.•.....•.. . St. Paul & Duluth. East Line & Red River .•••.•••.•••.. Missouri Kansas & Texas. East Tennessee & ·Georgia ..•...•... East Tenn. Vh·giuia & Georgia. East Tennessee & Virginia . .•....... East Tenn. Virginia & Georgia.. Eastern of Minneeota .••...••...••.. St, Paul Minneapolis & Manitoba.. Ea~teru Shore (Md.) ..••..••...•... •. N. Y. Philadelphia & Norfolk. Eastor ~Amboy ..............•....•. Lehigh Valley. Elizab 0tll City & Norfolk ..•..••..... Norfolk Southern. Elmira State Line ..•...•...••.•.. ... Tioga. Elmira Jeff. & Canandaigua ...••. .. Northern Central. Erie .....• •...•..... ......•.. ... ..•... New York Lake Erie & Western. E;;oanaba & Lake Superior ..•••..••. Ohioago & Northwestern Essex ..............................•. Eastern (Mass.) European & North American •••.... Maine Central. Evansville &. Cra wfurdsville ..•...•. Evansville & Terre Haute. Evansville Henderson & Nashville .. Louisville & Nashville. Evansville & Richmond ............ Evansville & Terre Haute. Evansville Rockford & Eastern ...•• Loulsvllle Evansville & St. Louis Fargo & Southern .............• •• ... Chicago Milwaukee & St. Paul. Florence El Dorado & W .......... .. Atchison Topeka & Santa Fe. Florida Central ....................•. Florida Central & Peninsular. Florida Central & Western .••...•... Florida Central & Peninsular. Florida Rall way & Navigation ... .•. Florida Central & P eninsular. Flori la Southern ..••......• ...•.... . Jacksonville Tampa & Key West. Florida Transit .......... . ........ . . Florida Central & Pen insular. Fort Smith & Van Buren Bridge .... St. Louis & San Francisoo. F ramin~ham & Lowell .•. . ••. ..•... O ld Colony. . Fremom; Elkhorn & Missouri Val. .. Chicago & Northwes ~ern. Galena & Chica_g-o Union ........ . ... Chicago & Northwestern Gardner Coal City & Northern ..•.. E lgin Joliet & Eastern. Georgia Caroliaa & Northern ....... Seaboard & Roanoke. Grand Haven ..•...•.......•......••. Chicago & West Michigan. Grand Rapidi Lansing & Detroit .... Detroit Lansing- & Northern. Grand Rapids N ewa.y go & L. Shore .. Chicago & West Michigan. GrandRiver Valley ... .... .. ....... .. Michigan Central. Great Western of 185\l .............. Wabash. Green Bay & Minnesota ..•.......... Green Bay Winona & St. Paul. Greenville & Columbia .... . ........ . Columbia & Greenville. Hannibal & Central Missouri ... .... Missouri Kansas & Texas. aannibal & Naples ......•..•........ Wabash. Harlem & Portchester ..... .......... New York New Ha.Yen & Hartford. Hastings & Dakota .................. Chicago Milwaukee & St. Paul. H elena & Red Mountain ..• •..••...•. Northern Pitoltlc. Hendrrson Beidge Co ...•..•. .••..... Louisville & Nashville. Holly Wayne & Monroe .............. Flint & Pere Marquette. Holyoke & Westfield ................. New Haven & Northampton. Hom1ton & Great Northern .......... Missouri Kansas & Texas. Hudson Cunne .:iting ..•.. .••... ... .•. Central New Eu~land & Western. lfudson & River Falls . . . . . • . . . . • . . . Chic. St. Paul Mmneap. & Omaha . Humeston & Shenandoah ........... Chicagi> Burlington & Quincy. Huatinburg Tell City & Cannellton Louisv. Evansv. & St. Lo11is ConsoL Illlnois Grand Trunk ......•..••..... Chica~ Burlin~on & Quincy. Illinois Midland ......•...•. .•.. •..•. . Terre Haute & reoria. Illinois & St Louis .•...•..••..•.• ,.Louisville Evansv. & St. L. Con JOL illinois & Southern Iowa. ............ Wabash St. Louis & Pacific. Indiana Bloomin 5ton& West'n ...••. Ohio Indiana & W1•stern. Indianapolis Cin. & Lafayette ...... Cleveland Cm. Chic. & St. Louis. Indianapolis & Cincinnati ........... Cleveland Cin. Chio. & St. Louis. tndianapolis D acatur & Springfield.Indianapolis Decatur & Western. Indiauapolis & St. Louis ..•..••...•• Cleve. Cio. Chic. & St. Louis . Io.di:mapolis & St. Louis ....... .. .. Olev. Cin. Chic. & St. Lons. International & Great Northern .... Missouri Kansas & Texas. Ionia & Lansing ......•...•...•...... Detroit Lansing & Northern. Iowa City & Western ......•..••..... Burlington Cedar Rapids & North'n ,. Iowa & .Dakota ....................... Chicago Milwaukee & St. Paul. Iowa Falls & Sioux City .....•....... Dubuque & Sioux City. Iowa Midland ..............•. .... ..•. Chicago & Northwestern. Iowa & Minnesota ... .. .............. Chicago Milwaukee & St. P'\ul. Iowa Southern & MiRRouri North ... <Thical!'o Rook Island & Paciftu. J ackson Lansing & Saginaw ........ Michigan Central. James River Valiey ..••..•......••... Northern Pacific. Jamestown & Franklin ............. . Lake Shore & Michigan Southern. Jersey Shore Pine Creek & Buffalo.Pine Creek. Joliet & Chicago ..................•.. Chicago & Alton. Junction & Breakwater ..••.••......• Oelawa.re Maryland & Virginia. Kalamazoo Allegan & Gr. Rapids .. L~ke.Shore & Michigan Southern. .Kalamazoo & South Haven .......... Michigan Central. Kalamazoo & White Pigeon ..•...... Lake Shore & Michigan Southern. Kansas City & Beatrice ............. Kansas City Wyandotte & N. w. Kansas City & Cameron ...•......... Hannibal & St. Joseph. Kansas City & Eastern ........ ..•. .. Missouri Pacific. Kansas City Emporia & 8 .•• . ...••. Atchison Topeka. & Santa Fe. Kansas CityFort Scott & Gulf ....•• Kansas City Fort Scott & MimphlL Kansas City Lawrence & So ...•••... Atchison Topeka & Santa Fe. ' Kansas City & Omaha .. •. ..... ...••. St. Joseph & Grand Island. Kansas C~ty St. Jos ..& Collll:cil B . ... C~cago Burlington & Quincy. Kansas City St. Loms & Chic ..•. ... Chicago & Alton. · Kansas ~ity Southeastern & Momp.Kansa~ City Fort Scott & Memphis. Kansas City& Southwestern .•••.••. St. Loms & San .Francisco. Kansas City Springfield & Memphis.Kansas City Fort Soott & Memphis. Kansas City Topeka & Western ..... Atchison Topeka & Santa Fe. Kansas Midland ..•..••..••..••..••. l::it. Louis & San Francisco. Kansas & Missoun ..•...••.. ...•..•• . Kansas City Fort Scott & Memphla. Kansas & Nebraska. ..•. . .•...•....... St. Joseph & Grand Island. Kansas Pacific ..•...............•.... Union Pacific. Kiagman Pratt & Western ..•....••. Atchison Topeka & Santa Fe. Knoxville & Ohio ..•..... . .•...••.••. East Tennessee Virginia & Georgia Lackawanna & Pittsburg ..•... ••... Lackawanna & Southwestern. Lackawanna & Sllsquehanna ..•... Delaware & Hudson. L "1fayette Bloomington & Muncie .. Lake Erie & Western. Lake Erie Wabash & St. Louis ..•.... Wabash. Lan.caster & Reading .•.....•••••.••. ~eading & Columbia. Lawrence ..••.... .. . . .•.......•..... Pittsburg Youngstown &Ashtabula. Leavenworth Atchison & N'west .... Missouri Pacific. Leavenworth Lawrence & Galv ..•. . Atohison Topeka & San a-¥ • Leavenworth Topeka & Southwest .. Atchison Topeka & ~ , ' t. .~ INDEX. UiS FORMER NAME, WILL NOW BE FOUND UNDER- Leeds & Farmington ..........•.•.... Maine Central. Lehiph & Susquehanna ............ Lehigh Coal & Navigation. Lehigh & Wilkesbarre Coal Co ...... Central of New Jersey. Leroy & Caney Valley ... ~ ... ........ Missouri P >\ citlc. Lexington & Southern .......•....... Missouri Pacific. Lincoln & Northwestern ............ Chicago Burlington & Quincy. Lincoln Park & Cbarleston ......... BuffaJo Rochester & Pittsburg. Litchfield Carrollton & Western .... Jacksonvme Southeastern. Little Rock Junct10n ................ Missouri Pacitto. Little Rock & Fort Smith .........••. Missouri Pacific. Long Dock Company ..... ·........... New York Lake Erie & Western. Lollisiana & Missouri River .......•. Chicago & Alton. Lollisvme Cincinnati & Lexington .. Louisville & Nashville. Louisville N. Albany & St. Louis .•.. Louisville Evansville & St. Louis Louisville & St. Louis .• •...•...•..... J a1 iksonville Southeastern. Lowell & Lawrence ................. Boston & Lowell Macon & Augusta ................... Georgia RR. & BankingCo. Macon & Western ................... Central Railroad & Bank. Co., Ga. Mahoning Coal. .. ...•.............•. . Lake Shore & Michigan Southern. Manitoba Southw. Colonization ..... Canadian Pacittc. Marietta & Cincinnati. .•.......•.... Cincinnati Wash. & Baltimore. Marietta & McPherson .............. .Atchison Topeka. & Santa Fe. Marietta Columbus & ~ orthern ..... Toh do & Ohio Central Extension. l\larietta Pittsburg & Cleve ..•...... Cleveland & Marietta. Maple River. ......................... Chicago & Northwestern. Marion & McPherson ............... . Atchison Topeka & Santa Fe. Jd.arquette & Western . ............... Marquette Hougton & Ontonagon. ?lfassachusetts Central. .............. Central Massachusetts. lfassawippi .......................... Connecticut & Passumpsic. Maysville & Lexington .............. Kentucky Central. Memphis Cla1ksville & Louisvme .. . L ouisville & Nashville. Memphis Kansas & Colorado ........ Kans , s City Fort Scott & Memphis. Memphis & Ohio ..................... Louisville & Nashville. Memphis Paducah & Northern ..... Chesapeake Ohio & Southwestern. Menominee River .................... Chicago & Northwestern. l\fetropolitan Elevated ............. . Manhattan Elevated. MJchigan Air•Une ................... Michiftan Central. · Michigan & Ohio .................... Cincinnati Jac.kson & Mackinaw. Michigan So. & North'n Indiana ..•. . Lake Shore & M.rnhlgan Southern. Midland. of Ne w Jersey ............. N. Y. Susquehanna & W, st~rn. Milwaukee & Madison ............... Chicago & Northwestern. Milwaukee & Wes tern ..•...•..••.... Chicago Milwaukee & St. Paul. Minneapolis & Duluth .............. . Minneapolis & 8t. Louie. Minntapolis Eastt-rn ................ Chicago l:lt. Paul Minn. & Omaha. Minneapolis & Padfic .............. Minmap. St. P, & Sault Ste. Marie, Minneap. Sault Ste. Marie & Atl'tic Minneap. ~t. P. & Sault Ste. Marie. Minueapolls Union ...... . ..... ..... .St. Paul Minnea-polis & Manitoba. MiJmesota Central ................... Chicago Milwaukee & St. PaulA , l\finnesota & Northwestern .. ... .. .. Chicago St. Paul & Kansas C'ity, .Minnesota St. Croix & Wisconsin ... Wisconsin Ventral. .Minnesota Valley ................... . f'llicaflo & Northwestern. Missisquoi Valley ................... . Central Vermont. Mississippi Central .... .............. 1Chic. St. L. N. 0.) Illinois Central. M.issies1ppi River Bridge ........... Cl.licago & Alton. Mississippi & Tenneesee...•..•..•• . Illinois <'entral. ?lfissouri River Fort Scott & Gul! ... Kansas City Fort Scott & Memr,his. l\fissouri River RR ...... ............. Missouri Pacific. M..iseouri Valley & Blair RR. Bridge.Chicago. & Northwestern. Missouri & Western . ................ . St. LoUis & San Francisco. Montana Central .................... St. Paul Minneapolis & Manitoba. Montclair ...................... =.... . New York ~ Greenw.ood Lake. Muskegon Grand Rapids & Indiana. GraTJd Rapids & 1ndiana. Nashua & Lowell .................... Boston & Lowt>ll. Nashua & Rochester ............ .... . Worcester Nashua & Rochester. Nashvtlle Florence & Shettield ...... Nashville <'hattano(!ga & St. Louis. Nebraska ............................ . Chicago Burlin.~ton & Quincy. , Nevada Pacit1c ... . ........ .......... . Oregon Short Lme & Utah North n. .Newark & New York ..... ...... ..... . Central of New Jersey. New BedfordRailroad ............... Old Colony. . Newburg & New York ... . ........... New York Lake Erie &.WestP.1?1· New Castle & S tl enango Valley ..... New York Pennsylvarna & Ohio. New Jersey Midland ................. New Yor~ Susquehanna & Wester-a.. New Jersey Southern ............... Central of New Jerrny. New Mexico & So. Pacific ........... Atchison Topeka & Santa Fe. New Orleans Jackson & G. N ........ (Chi~. ~t. L. N. 0.) ~ois Oentra.l. New Orleans & Mobile ............... Lomsv1lle & .N ashville. New Orleans Pacitl.c ................. Texas &.Pacific. Newport & Richford ................ . Connecncut & Passumpsic. Newtown & Flushing .... .... ... ..... Long I sland. New York Elevawd .................. ManhaLtan Elevat~d. New York & Erie .................... New York Lake Erie & Western, New York & L"ng Branch ... ....... Central of New J ersey. New York & ManhattanBeach ..... _.N. Y. Brooklyn&. Manhat.Beach. New York & Oswego Midland ....... New York Ontar10 & Western. New York & Rockaway .............. Long Island. N. Y. Wo<1dhav.-n & Rockaway .... N. Y. & Rockaway Beach. Niles & New Lisbon .................. Cleveland & Mahonmg V~ey. Nod away Valley ..................... Chicago Burlington & Qumcy. Norfolk & Petersburg ............. ... Norfolk & Western. Northern Illiuois ..................... Chicago & Noi-thwestern. North Missouri. ...................... W~bash. . North Wisconsm .............•....... Ch1c. St. Paul Mmn. & Omaha. Northern Central (Mich.) ........... Lalre Shore & Michi~an Southern. Northern Cross .............••....... Chicago Burlington & Quincy. Nor. Pacific LaMoure & Mo. Riv .. . Nortberu Paci.tic. Northern Pacific & Montana ....... Northern Pamflc. Northwest & .Florida ................ Alabama Midland. Northwei,,tem Grand Trunk ........ . Chicago & Grand Trunk. Northwestern North Carolina ....... Richmond & Danville. Northwestern Union .••.............. Chicago & Northwestern. Northwest Virginia .................. Baltimore & Ohio. Ogdensburg & Syracuse ........... .. Oregon Short Line & Utah North'n Ohio Central. ........................ Toledo & Ohio Central. Ohio & West Virginia ................ Col. Hocking Valley & Toledo. Omaha & Southwestern ............ . Chicago Burlington & Quincy. Orange & Alexandria ................ Virginia Midland. reg-on Short Line ........ ......... or... gou Short Line & Utah North'n. Ottawa & Bur•ington ................ Atchison Topeka & Santa Fe. Ottawa Oswego & Fox Rtrnr ......•. Chicago Burlm!!ton & Quincy. Ottumwa Cedar Falls & St. Paul .... Chicago & Northwestern. Oxford & Clarksville ................ Richmond & Danville. Pacific Coast ........................ Oregon Improvement Company. Paci.tic of Missouri .. ................ Missouri Pacific. Paducah & Elizabethtown ........... Chesapeake Ohio & Southwestern. ainesville & Youngstown .......... Pittsburg-Painesville & Fairport. aria & Decatur ..................... Terre Haute & Peoria. ekin Lincoln & Decatur ..•...•.... P eoria Decatur & Evansville. eninsular of Florida .... .. .......... Fl0rida Railway & Navigation. eninsular (Mich.) .... .............. Chicago & Northwestern. enokee ............................. Wisconsin Central. ensacola & Atlantic .... .......... . Louisville & Nashville. Peoria Pekin & Jacksonville ... ...• . Wabash. Pittsburg Branford & Buffalo ...... Pittshnrg & WN:tern. Pitt1:,lnug ~ Connells,ille ............ Baltimt•re & Ohio. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis LVOL. L. FORMER NAME. WILL NOW BE FOUND UNDER- Pittsburg & State Line .............. Buff. Rochester & Pittsburg. Pleasant Hill & De Soto .....••..•... Atchison Topeka & Santa l<'e. Port Hul'on & Northwestern ....... F lint & Pere Marquette. Portland & Kennebec ................ Maine Central. Port Royal.. ............. . ........... P ort Royal & Augusta Poughkeepsie & Connecticut ....... Central New En gland & Western. Prairie du Chien ..........•.•..•...•. Chicago Milwaukee & St. Pau.L Pueblo & Arkansas Yal.J.ey .......... Atchison Topeka & Santa Fe. Quincy Alton & St. Louis.; ......... Cltlcago Burlington & Quincy. Qn!ncy & Palmyra .................. Hannibal & St. Joseph. Qmncy & TClle.do ..................... Wabash. Quincy & "\varsaw ................... Chicago Burlington & Quinoy. Republican Valley .................. CbicagoBurlington & Quincy. Rich Hill ............................. Kansas 01ty Fvrt Scott & Mempnia. R ichmond Nicb. Cr. & B ............. Louis. New Al. & Chic. Richmo nd Yol'k Riv. & Chesl'lpeake.Richmond & ·nauville. Rochester & Pittsburg ..••........... Buffalo Rochester & Pittsburg. S fl cramento &. Placerville ..•....... . Northern California. St. Joseph & Iowa ... ............... Chic. Rock Iala11d & Pacifio. St. Josepll & Pacific ................. St. Joseph & Grand Island.. St..Joseph & Western ............... . St. Jo.,eph & Grand lt!land. St. Louis Council Bluffs & Omaha ... Wabash. St. Louis iron Mount'n & Southern.Missouri Pacitl.c. Bt. Louis Jacksonville & Chicago .... Chicago & Alton. St Louis Kansas & Arizona ..... .... Missouri Pacific. St. Lollis Kaij.sas City & Northern ... Wabash. St. L oms Kansa8 & Southwestern ... St. L 'luis & S rn Francisoo. St. Louis & Lexington .......•....... Missouri Pacific. St. Lollis Rock Island & C......•.... Chicago Burlin~on & Quincy. St. Louis Salem & Ar-kansas . ........ Sr. L ouis & Stt.n Francisco. St. Lon is Salem & Little Rock ...... (St. L. Salem & Ark.) St. L.& S.Fr,an. St. Louis & Southeastern ......•..... Louisville & Nashville. St. Louis Southern ................... St. Louis Alton & Terre· Haute .. St. Louis Wichita & Western ....... . St. Louis & San Francisco. St. Paul & Chicago ..•..........••... Chicago Milwaukee & St. Paul. St. Paul Eastern Gran][ Trunk ...... Milwaukee Lake Sb. & Western. Bt. Paul & Pamfic .................... St. Paul Minneapolis & Manitoba. St. Paul & Sioux City ................ Chic. St. P aul Minn. & Omaha. St. Paul Stillwater & T. F ........... Chic. St. Paul Minn. & Omaha. Sandnsky & Cleveland ..•..••..••.. .. Cincinnati Sandusky & Cleveland. Sandusky City & Indiana . ........... Cincinnati Sandusky & Cleveland. Sandusky Dayton & Cincinnati ..... Cincinnati Sandusky & Cleveland. San Francisco Oakland & Alameda.Central Pacific. San J oaquin Vallt>y .. ............ . ... Central Pacitl.c. Ban Pablo & Tulare . ................. Northern (California) Savannah Albany & Gulf ............ Savannah :F lorida & Western. Savannah & Charleston .. ........... Cllarleston & Savannah. Schenectad.v & Duanesburg . ... . .... De la ware & Hudson . Schuylllill River East 8ide .......... Baltimor~ & Ohio . t:!ed alia Warsaw & Southern ........ Missouri Pacitto. Sharon ............ ................... New Yor.c Pennsylvania ,~ Ohio. Sheffield & Bir ruin gham ............ . Birmin~ham Sheffield & Tenn. River.. S!J.orv C!eek & Joplin ................ Kansas Ctrx Fort Scott & '1emphis. l:llOUX City & Dakota ................. Chrnago Milwaukee & 8t. Paul. Sioux rnty & Pacific ................. Chicago & Northwestern. Sioux City & St. P aul ..•...•...•...•. Chic. St. Paul Minn. & Omaha. Sla ·ington & New En~land . ........ Penosyl'a Pou ghkeepsie & Boston. Smithtown & Port Jenerson ........ Lon~ Island. . Sodus B>ly & Southern . .............. Elm1ra & Lake Ontario. Sonora . ........... . .......... ........ Atchison T opeka & Santa Fe. South Georgia & Florida ............ Savannah Florida & Wea tern. 3outn Pacitl.c (Mo.) .................. St. Louis & San Franciseo. Soutb Side (Ya.) .. ....... .. ........... Norfolk & Western. Soutneastern & St. Louis .... ........ Louisville & Na9hville. Southern Georgia & Florida ......... Savannah Florida & Western. southern Kansas .... . ............... Atchison Topeka & Santa Fe. Southern Kansas in Texas ... ........ Atchison Tope Ira. & Santa Fe . southern Kansas & Western ......... A.tcnison Topeka & Santa F6· Southern Minnasota ................. Chi~ago Milwaukee & St. Paul. Southern Pennsylvania .............. Cumoerland Valley. Spartanburg & Asheville .. .......... ARheville & Spartansburg. spokane & Palouse ................... Northern Pacitl.c. stanstead 8. & Cllarnbly ............. Central of Vermont. sterling Mountarn RR .............. Sterling Iron & R·y Co. (see Miscel'af steubenville & Indiana . ............. Pittsburg Cin. & St. Louis. stockton & Copperopolis ............ Southern Padftc of CaJlfornia. sumner County ...................... Atchi on Topeka & Santa Fe. sunbury & Erie .................... .. Philadelphia & Erie. Tavlor's Falls & Lake Superior .... . St. Paul & Duluth. Tarkio Valley ........................ Chicago Burlington & Qu'noy. Tebo & Neosho ..... ..... ............ Missouri Kansas & Texas. Terre Haute & Southeastern ........ Evam:iyille & Indianapolis. Texas Mexican ... . ...... . ............ Mexican National. Texas & St. Louis ................... . St. Louis Arkansas & Texas. Toledo Ann ArbClr & Cadillac ....... To tedo Ann Arbor & North Mieh. To'eoo Ann Arbor & Grand Trunk .. Toledo Ann Arbor & Nortn .Mich. Toledo Ann Arbor & Mt. Pleasant .. Toledo Ann Arbor & North Mich. Toledo Cincinnati & 8t. Louis ....... Toledo St. Louis & Kansas City. Toledo Delphos & Burlington ....... Toledo St. Louis & Kansas City. Toledo & Illinois ..................... Wabash. Toledo Logansport & Burlington . •• , CWcu.go St. Louis & Pittsburg. Toledo Pe ria & Warsaw ............ Wabasn. Toledo & Wa.bash .................... Wabash. Troy & Boston ....................... Fitchburg. Union .... ............................ Northern Central. Union Elevated ...................... Brooklyn Elevated. Union & Logansport ................ Chic. st.-Louis & Pittsburg. Utah Central. ....................... Oregon Short Line & Utah North'n. Utah & Nevada ...................... Oregon Short Line & Utah North'n. Utah Northern ...................... Oregon Short Lin d & Uta h North'n. Utah Southern ....................... Oregon Short Line & Utah North'n. Utica & Black River............. ··-· Rom.e Watertown & Ogdensburg. Venice & Ci:irondelet . ...... . ....... . Louisville Evansville & St. Louis. Verdigris Val. Independ'ce & West.Missouri Paci.tic. V~rnon Greensbll!g_ & Rushville .... Cincinnati Cn~ianap. St. L. & Ohle. Vicksburg & Mendian .............. . Alabama & Vicksburg. Waco & Northwestern .............. Houston & Texas Central. ,vabash Western ......: ......... . . Wabash. Warren & Franklin ................ Western New York & Pennsylvania. Warwick Yalley ..................... L ehigh & Hudson River. Washingtop. Cit, Ya. Mid. & Gt So .. Vjrgmia Midla.ad. Washington Oh10 & Western ........ Richmond & Danville. West Chester & Philadelphia ........ Philadelphia & Baltimore Central. Western of Alabama................. ~avaunah & Western. Western Minnesota .................. St. Paul & Northern Pacific. Western Pacific. . . . . . • . . . • . • • • . ••... Central Pacific. Western Union Railroad ............ Chicago Milwaukee & St. Paul. West Wisconsin ...................... Chic. St. Paul Minneap. & Omaha. Wichita & Southwestern ............ Atchison Topeka & Santa Fe. Wichita & Western .................. Atchieon Topeka. & Santa Fe. Winona & St. Peter... .. .......... Chicago & Northwestern. Wisconsin Minnesota & Pacitl.c ... ... Minneapolis & St. Louis. Wisconsin Valley ........ ........... Chicago Milwaukee & St. Paul.. WM. M. HARRIMAN, Member New . York Stock Exchange, NICHOLAS FISH, OLIVER HARRIMAN, INVESTMENT DEPARTMENT, HENRY S. REDMOND. JR. HARRIMAN & co., BANKERS, EQUITABLE BUILDING, 120 BROADWAY,, NEW YORK. DEALERS in Government, Municipal, Water Works and Railroad Securities. TRAN ,ACT a General Banking Business, and receive acc~)unts of'._ Railways, Corporations and Individuals, upon favorable terms._ EXECUTE orders for cash, or on margin, in all Securities listed on die New York Stock Exchange. ST ANTL Y have a choice line of Securities to offer, suitable for Investors, Trust Funds and Institutions. List of Securities Offered, Sent Upon Ap lication.__ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AU.GUST BELMONT & 00., BANI{ERS, No. 23 Nassau Street, Issue Travelers' Credits, available in all parts of the World, through Messrs. N. M. Rothschild & lSon.s, Lon.don, 19 . de Rothschild Bros . ., Paris, • M.A . de Rothschild & Sons~ Frankfort-on-Main., •• S. M. de .Rothschild~ Esq., Vienna~ AND THEIR CORRESPONDENTS. DRAW BILLS OF EXCHANGE ON, AND MAKE CABLE TRANSFERS TO, ENGLAND, FRANCE AND GERMANY. GEORGE COPPELL. THOS. MAITLAND. GERALD L. ~HOYT, Member of New York Stock Exchange. RHELPS & C0., 22 & 24 Exchange Place, N E ~ -YQR:K_ Transact a General Banking Business. Orders Executed for Investment Securities. Act as Agents of Corporations and Negotiate and Issue Loans. · Bills of Exchange, Transfers Telegraphic and Letters of Credit ON ·Messrs. Smith., Payne & Smiths, Lon.don. Paris. Messrs. Mallet Freres & Ci-e. Mexico. and its branches. El Banco Nacion.al de Mexico, AGENTS OF THE BANK OF AUSTRALASIA. OF MONTREAL, ·B ANK [ESTABLISH ED 1818. l Capital Paid in Surpl.u s $12,000,000 $6,000,000 Hon. Sir DON ll LD A. SltlTl'H , P resident. C· W. J. BlJCHANAN, General Manager. New York Office: Nos. 59 and 61 Wall Street WALTER WATSON, ALEX'R LANG, } Agents. Buy and sell Sterling and Continental Exchange and Cable Transfers; grant Commercial and Travelers' Credits ava.ilab in any part of the World; issu e drafts on, an d make collections in, Chicago and throughou t t he Dominion of Canada. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis London Office, No. 22 Abchurch Lane. E. L. OPPENHEIM & [Established 1862] cot, · _BANKERS AND BROKERS, 35 New Street MEMBERS N. Y . Stock Exchange. N. Y. Cotton Exchange. Chicago U oard of Trade. and 4 Exchange Court, . Branch (_)ffice., N E ~- l'lurray Hill Hotel~ YORK. 75 OL:D BROAD STREET, E. C., London,_Eng. ED. C. JONES. GEORGE E. FAILE. FAILE, JON lnvestm·ent Bankers, N0.135 AND 137 BROADWAY, N. Y. Choice Railway, Municipal and Corporation Bonds Paying from 3 t-2 to 7 per cent Net. , SAFE 7 PER CENT WESTERN CITY MORTGAGES. · , Correspondence and calls invited. LA · MoNTAGNE, CLARKE & Co., BANI{ERS AND · BROKERS. 44 Broadway, New York. , l E. LA MONTAGNE, JR., MlDIBERS NEW YORK ~RMAN CLARKE. ) STOCK ExCBANGE. Chicago Correspondents: . THE WEARE COMMIS~ION CO., 218 La Salle Mreet. . jMEMBER NicwYORK PRODUCE E~OHANGE, wALLACE B. SMITH, l London Correspondents: MESSRS. SPERLING & ELIN, 14 Cornhill, E. C, CABLE ADDRESS: "YARACLARK NEW YORK." A. , B. TURNER & BRO., • Ba:n..kers a:n..d E-rok.:ers~ FISKE BUILDINC, N 0. 89 STATE STREE'f, BOSTON, }!ASS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis co., JOHN MUNROE & FOREIGN BANKERS, No. 32 NASSAU STREET, n'is't1it:,1~J~E NEW YORK. No. 4 POST OFFICE SQUARE, BOSTON. FURNISH EX<;HANGE FOR COMMERUIAL AND TRAVELING PURPOSES ON Paris, London, Berlin, Zurich and St. Gall. CABLE TRANSFERS ON PARIS. Traveling Credits in Pounds Sterling and in Francs. HOUSE lN PARIS: MUNROE & CO., By -whon1 Acc<>u.n.tH -with American. Ban.ks and Bankers opened - on. Favorable Terms. ================== ============ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis •" 0 0 I ~ Cl) ..!id u u" .c: - - l l l~~il 11l~~~mm1~~mil l l DREXEL, 1¥1-0.BGAN. ~ Lfl~ 35 95 ·, Wall St.. Cor. of Broad St., NE"-W-- ~ORK:_ DREXEL & Co., DREXEL, HARJF.S & Co., · Cor. of 5th & Chestnut Sts., ,3 1 Boulevard Haussmann, _· PHILADELP HIA. I p ARIS. . DOMESTIC & FOREIGN BANKERS. DEPOSITS RECEIVED SUBJECT TO DRAFT. Securities Bought & Sold on Commission. INTEREST ALLOWED ON DEPOSITS. FOREIGN EXCHANGE, COMMERCIAL CREDITS, HG 4905 .F6 lB 9 0 CIRCUL) VELERS, The Financial review Ava vld A co. . MESSR No. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis )
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