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nbtstors' jnuultmtnt OF THE COMMERCIAL & FINANCIAL CHRONICLE. [Entered according to act of Congress, ln the year 1889, by Wx. B. DA.NA. & Co., ln the otllee of the Llbrarlan of Congre88, Wuhlngton. D. C.] VOL. 48. INVESTORS' NEW YORK, JANUARY 26, 1889. SUPPLEMENT. RAILROAD DJVJDENDS FOR SEVEN YEARS. The table at the end of this article presents a detailed list of the dividends P"id during the la.st seven years on all railroad stocks dealt in on the Stock Exchanges in New York, Boston, Pbi 'adelphia and Baltimore. A pre• liminary statement, showing tbe dividends, by groups of roads, on some of the principal stocks, was givm in THE CHRONICLE some weeks since, and this statement we now supplement by the publication in full of the exhibit from which the preliminary summary was prepared. The passing by tbe Atchison Company last week of the RAILROAD MAPS IN THE SUPPLEMENT. February (l 889) dividend and the reduction this week of The railroad maps now published in the SUPPLEMENT the Illinois Central dividend only further emphasize the include the following roads. fact that the year 1888 was a very unfavorab le one, and · PAGF. that railroad dividends have been cut down as perhaps MAP. Alabama. Great Southern. SU Cinclnnati N. 0. & T. P .. ........... .. 43 Atchison Topeka & Santa Fe ...•..••...•.••••.•••.•.•.•••.••.•. 16 and 17 never before. Whether the Atchison earned a dividend At1antic Atlanta & Great Western .••....•. • •••.••••••••••..•••....•••. 18 Baltimore & Ohio.... . ........... . • . . . . • . . . • • . • •. . • • . • • •• • • •. • • • . . . • • . . . 20 or not, the step taken is certainly to be commended in Buftalo Rochester & Pittsburg •..•...•..•.•..•. •.•...•.•••••••..•...•• . 23 Canadian Paclflo ..... . . • . . . • . . . . . . • . . • . . . . • . . • • . . • • • . • • • . . • • . • • • • • • . . • • • 25 view of the developments of the last twelve months. But Central .RR. & Banking Co. or Georgia.................... . .......... 26 Central RR. of "New Je1seX·· .....•..••...•...•..•••..•...••..•••••..••• 28 as the company has had a. very prosperous career, the susCharleston Cincinnati & vhicago . ••.. ······ ~·························· 29 Chesapeake & Obio ...•. . ............••..••...•...• . ..•...•. . •••.••..••. 31 pension now of all returns to its shareholders ca.n easily be Chicago Milwaukee & St. Paul................................ . •• . . • • . . 34 Chicago & Northwestern ............................................... 36 borne by those who have been in it from the start. Begin• Ol.iioago Ro ck J..la,nrt & Pacific .••..••..•....•..••..•••.••. . .•.•..••.••• 38 Chicago St. Paul & Kanf' as City........................................ 40 ning in 1879, the dividend record remained u01mpaired Cincinnati Indiana.polis St. Louts & Chicago .•••.•••.••..••...•....... 42 Cincinnati New Orleans & Texas Pacitto .............. .. .............. 43 till 1888; in 1881 the company also made a stock distribu• Colorado Midland..... . . . . . • . . . . . . . . . . . . • . . • • • . • • . . • • . . • • . . • • . . . . . • . . • • • 45 Delaware Lackawanna & Wef.tern ............. . . • . . . . . . . • • . • • • . • • . . • • • 47 tion of 50 per cent, and on this enlarged cap1ta.l, which was Dtlaware & Hudson Canal Co.'t! Lines .••.•••.••••••••••••••..•••••••• 137 further increased from year to year by new extensions Denver & Rlo Grande ... . .•...•..••..••. ·················-·············· 49 Denver& Kio Grande Wet1tern .•••.•••.•••.••••••••••..••..••...•..••. 50 and in various other ways, the company earned and paid Denver Texas & FortWorth ..•..•••.••...••.•••••...••..••..••...•. . •• . 52 Duluth South Shore & Atlantic . .•...•..••..••••..••..••.•••..••.••..••. 53 regular 6 per cent · dlvidends. In 1887 the ra.te was East TennessPe Vir,ginia. & Georgia . .•...•..••..•••..•...•...•...••... 55 Evansville & T, rre H aute .......••.. ••..•..•••.••.••...••..••..••.•••• 57 from 1½ quarterly to I¾ quarterly-that is to a Gulf Colorado & Santa Fe . • • • . • • . . . . . . . • . . . • • . • • . . . • . . • • • . • • • . • • • . • • • . . 59 increased Illinois Central. • . . . . • . . . . . . . • • . . . • . . . . • . • • • . . . • . . • • • . . • . . • • • . • • . • • • . . • • . 6 L basis of 7 per cent per annum. But the higher fi.iure did Jacksonville Southeastern.............................................. 64 Jacksonville Tam pa & Key West ..•.. . •...•••••.•••.•••.••.••••..••.... 63 not last long, as the compim y soon (May, 1888) re1u •ned to Kansa City Wyandotte & Nor1hwtstern •• . . .•..•••.••..••..•••....•• 66 Kentucky Union . . . . . . • . . . • . . . • . . . . . . . . . . . . . . • • . . . . . . •• . . . • . . . •. . . . . . . • . 67 the old bas1s, and in November dropped to one•hu.H of 1 Lake Erie & Western························-·········· · ······· · ······· 69 0 it passes altogetber. 1i~iivme::::::::::::: ::: :::::: ::: :::::::: :::::.::: :: :::: :: iJ per cent, while now for February Louisville New Albany & Chica.go...................................... 75 The experience of the A tcb.ison has been only a trifle Louisville New Orleans & Texas .•••.•••..•..•.••.••.. ••...••.•••.••••• 76 Louisville St. LoutR & Texas .••• •••. . .••..••. • •••.••..••..••..••...•. . . 77 worse than that of most other companies West and South• Marietta. & North Georgia............................ . . . • • . . • • . . • • . . . • . 79 Maxwell Land Grant ...................... .... . ......................... 139 west of Chicago, and they all owe their misfortunes in Mexican Central . • . . . • • . • .. . • • • . • • • . • • • . • • . • • • • . • • . • • • . . • • . . • •• . • • • . • • . oO Mexican National •.... : •••..•..••..••..••..•••••••.•••.•••.••...•..••.. . SL very great part to the building of such .a large a.mount of Milwaukee La11e Shore & Western ..••..•••••••••.•••.•.•••.••..••..••• t:<3 Milwaukee & Nortb~rn • . ••. . ••. . .••.••.••••.••..•••.••••••..••.•••..••. 84 new railroad mileage, wbich came in competttion witb. the llinneapolls St. .Paul & St. Ste Marie .•••.••..•••.•••.•••.•.••.•••••••• 86 Mobile & Ohio .•••.•...••• . .•..••..•••.••..••• ~ ••.••••.••..••...••••••.• es mileage already in existence. It is true that had there Nashville Chattanooga & St. Louis. SU Louisville & Nashville ...••• 73 New York Sm!queha.nna & Western ..•..•••.••.•••••.•..••..••..••.•••• P3 been no cuttmg of rates, the matter would have been Lot Norfolk: & \Vestern .••..••..••.••••.••..••..•••••.•••••••.•••.•••.••••••. 95 quite eo bad, but the culting of rates was a dm1ct outNorthern Pacific .... . ....................................... . ........... 97 Omaha Dod~e City & Southern . •••.•••.•••.•••.••..••..••.••••.••.•••• 1:19 engendered by the extraordi• Pennsylvania . ••...•...•. . .•..•••......•..•••. . .•.••..•..•••.•••• ••••.•.. 101 growth of the compe tition Peoria Decatur & Evansville. Su Evansville & rerre Haute ••.•••• 57 nary amount of new railroad construction. Eve1·y era. of Phlladelphia & Readiug .•...•..•••.•••.•••.•••.•••..•. ••••••••.••• . .. . 10 3 Pittsburg Shenango & Lake Erie .•••.••..••...•..••• . .•...•.•••••••••. 105 exce::sive railroad building has barn followed by a reac• Pittsburg & Western .•...• .... ..••. . ••..••... . ••. . ••....•. . ....••.••.. 107 Richmond & Danville. SP£ Richmond & West Point Termina.l ••••. . 10 • tion, and the lllte p ,:,riod is proviog no excep tion to the Richmond & West Point Terminal .•••.•••..••.•••.••..•••.•••.•• . .••• . 109 Rome Watertown & Ogd~11sburg . . .•......•••.•••..•.••••.••.•••••••. 111 rule. Tne only d1ffdrence ie, that as the new coos1ruct:on Shenandoah Valley. ou Norfolk& Western .••••••...••••.•••.•••••• . 9 ,; St. Louis Alton & 'ferre Hau e .•••••.•••.•••••••.•••.•••.•••••••.•••.• 112 work was so largely prosecuted by the promment divi• St. Louis Arkansas & Texas .••..•••.••..•••.••.••••.••..••.••••.•• ; •••• 113 St. Louis & San Francisco .••...••••.•••••••.••.••••.•••.••.••••..•• . ••. 115 dend paying companies, the first effect has been 10 tnrow 8t. Paul Minneapolis & Manitoba ...................................... 117 Bau Autunio & AL·an--1 a.s P ,ss . •••.•••.•••••..•••.•••.••..•••.•••..•..••. 118 the loss and burden on their s ~ockholders in a rt-d uction Beattle L a ke Shore & .Eastern •••.•••.•••.•••••••.•.•••.••. . ••• . ••••••. 120 In the building of the new mileage tbe old Southern Pacilio . •...•• .. •. . .••.•••••••.•••.•••.•••.•••••••••••.••..••. 12~ of dividends. Tolerlu Ann Arbor & North Mich .••• . •••••••.••••.•••.•.••..•••.••••••• 1 ~4 TQledo & Ohio Central Extem,ion .•••.••..••.••••••••••••••.•••.••••••. 1~5 companies had certain advantages which new comp -I.Dies Tol"'do St. Louis & K1U1.1!88 City•.•••••••••••.•••.••••••••••••••••••••••. 127 Union PacUlc .•••..•..••• . .•..•••.•••••••••••.•••••••••••••••••••••••.••. 12\J could not have possessed, for they were able to borrow at West.ern Ntiw York & Pennsylvania .••• -·························· ... 133 Zanesville & Ohio ••••••••••••••••••••••••••••••••••••••••••••••••••••••• 135 lower rates of interest and on better terms generally, and TERMS: The BuPPLEMENT ls published on the last Saturday of every other month-viz., January, March, May, July, September and Novemberi and one copy of ea.oh issue is furnished, without extra. charge, to a.l ·1'61t1llar subscribers of tile CoMMERCIAL AND FINANCIAL CHRONICLE. Addltiona.I copies or any issue are sold to subscribers a.t 50 cents ea.ch. and to persons not subscribers at $1 each. No subscriptions are taken tor the lNvESTORS' SUPPLEMENT apart from the UHRONlCLE Annual subscription prioo to the CHRONICLE, tncludibg the U.--VESTORS' SUPPLEHENT, is $10 20 in the United States and $11 :lo in Europe; these prices cover postage. WILLIAM B. DA.NA & co.~ .Publishers, 102 William Street, New York. tg~:~:!i https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMEN1'. we have frequently referred to that as one of the strong features of the situation. On the other hand, by reason of.the ease and facility with which the old companies on their exceptional credit could borrow money, the over• building was carried to much greater lengths than would -otherwise have been possible. In the meantime, the companies are obliged to tide over the deficiencies occurring in the operation of tb.e new mileage besides having to contend with the increased competition to which the original mileage has been subjected . Among the larger companies the St. Paul, like the Atchison, has stopped altogether on its common stock, though on the preferred stock there was only a reduction -the last semi-annual dividend being 2½ per cent, instead of 3½ per cent. As a rule, the roads which have suffered most are those which until lately were especially prominent in adding new mileage and extending their systems. Tp properly understand our record of dividends below, it 1~uet be borne in mind that we give the aggregate of dividends paid in each year-not the amount declared out of the year's earnings, which in ma.ny cases is not known till a long time subsequent to the close of the year. More-~ over, as dividends during 1888 were gradually reduced, the late~t being generally much less than the earliest, the ull iheasure of reduction is not in ev·e ry case apparent, th?uR~ · the t~:°dency towards a lower basis is clearly reflected. We may state, however, that many of the larger companies have co~e down to 4 per cent. This is true of the Rock Island, the Burlington & Quincy and.the [VOL, XLVIIL Missouri Pacific. The St. Paul & Omaha's latest semiannual dividend was only 1 per cent., inste~d of 3 per cent as before, but as the date of payment is January, 1889, the reduction is not shown in the 1888 figures. The Northwest, Manitoba, Chicago & Alton and St. Louis & San Francisco have made no change in their rate of distribution. In the New .England Sta.tee, as the result of the increase of stock or debt, or both, and the assumption of new lease and rental obligations, and also in some casesbecause of participation in an attempt to get more West• ern · traffic, the Boston & Maine has reduced from 5 semiannual to 4, while the Fitchburg, the Eastern, and the House.tonic have aH joined the ranks of the non-dividend payers. But there are quite a number of cases where the dividend rate has been increased. This applies to many of the Southern roads, to some of the coal companies, and to roads like the Lake Shore, whose next semi-annual payment (February, 1889) will be 3 per cent instead of 2 per cent, the idea being to make 5 per cent for the year. Among some other instances, the Cleveland Columbus Cincinnati & Indiana.polis in Ftibruary makes its firs~ div1dend since 1883, while the Huntingdon & Broad Top, which a few years ago paid nothing at all, now pays regular 2½ per cent semi-annual dividends on its preferred stock. The Panama Railroad, after having suspended during 18B6 and 1887, gave its stock no less than 23 per cent in 1888. Tne West Jersey increased from 3 to 3½ per cent on its last semi-annual distribution. DIVIDENDS ON RAILROAD STOCKS. Name of Company. NEW YORK. .Albany & Susquehanna (leased) Beech Crc,ek, pref ..•............ Belleville & So. 'Ill. (leased),pref. Boston & N. Y. Air Line, pref .. Canada Southern..•..•.......•.. Canadian Pa.oifio ......•...•..... Cehtral of New J'ersey..... . ••. Central P~ifio ..............•... Centrat'RR. & Bk. of Ga . ...... . ~ Col. & Augusta ..•.....••. Chio f;o & Alton ......•..•...... o pref........•... Chioagd Burlington & Quincy .. ChJ.~~f,o &,Eastern. Illliio~·-··· · o pref.......•...•. Chio. &_ Ind. Coal, pref .••...•... Cliloago Milwaukee & St. Paul. 1 Do do pref. Chioai & Northwestern .... : ... o, d,o p,ref ... Chio, ookTuland & Pao .••..•.. ~o. st~ P, Minn. & Om., pref .. Cincinnati Hrunilton & Da.yton. •Dp do ~ref. C1nn. Indianap. St. Lollis & hie. ~clnnati N. O. & Texas Pac ... Cleve. Col. Cin. & Indianapolis. Cleve. & Pittsb., gnar. (leased). Creur d'Alene Ry. & Nav ..••.•• Columbia & Greenville, pref ... Col. Hockin§Val. & Toledo ...•. Danbuey & orwalk \leased) ..• Delaware & Hudson Canal .•... Delaware Lack. & Western .... _ Denver & Rio Grande, pref..... Detroit Bay City & Alpena. ..••. D\¼bu~ue & Sioux City ..•... 0 • • • East enn. Va. & Ga., 1st pref. Erie & Pittsburg (leased) ....... Bvansvllle & Terre Haute ..•... Geqrgia (leased) ...•...•......••. Bamnbal & St. Joseph, pref .... ~Central .•...•••.••... _.. Leased line certs .. ;Jolle~ & Chicago (leased) ..•.... Keokuk & Western ..........••. Lake Shore & Mich. Southern .. Lo~ Island .••.......••......••. Lo ville~ Nashville .••••••.. Manhattan Elevated .••..••..•.. llloblgan Central••.••.•..••.••.. Ki'. Lake Shore & Western .•••• ~o .. , .1 do · pref. Dividend Periods. Jan. Jan, May April Feb. Feb. and and and and and and J~. J y Nov. Oct. Aug. Aug. Feb. and Aug. June and Dec. 8uarterl,.v-Mar. uarterly-Mar. Quarterly-Mar. Quarterly-Mar. Quarterly-Mar. April and Oct. April and Oct. June and Dec. auarterzy-Mar. uarterly- Feb. Jan. and July. .. -- .. ··-··· .... -. Quarterly-Mar. Feb. and Aug. Quarterly-Mar. ...... --....... --· ·- ............. --· 1883. ...... ...6¼ 7 7 ···5ig ···5·· 4 2 2¼ l¼ 6 4 2 5 419 3 5¼ 7 2 . --· .. . --· .. ...6.. 8 Feb. and Aug. Quarterly- Feb. juarterly-Jan. eb. and Aug. .................. ~ ~ i f t o ••••••••••••••••• ~ua.rter\y- Jan. an. and July. llo't & aa:ex (leased) ....•.... N ~~ttan~r& St. Louis Quarterly- Jan, New ndun No ~m (leased). auarte:rly- Jan. uarterly-J a.n. Nel: ~ k ~trrJt& HQ.~On •.. N. '. & ar m me .4t~ .RR.- ...8.. 8 8 ··io."(b) 10 (b) 8 8 3 ·----· ···7·· 7 7 7, 7 8 ---· .. ----. ...7.. . ..... 7 7 8 7 7 -----· ...7.. 8 7 7 9 6 3 7 ---··· ---6 .. 1¼ 7 7 6 6 ....... 3 ...6.. ...... ···5·· ···2i; 8 ...... -1 ······ ···4-7 6¼ 719 7 4ll&(h) 6 6 1 7 ...... 7~ . --6 •• ·--s·· ···1·· ·10¼ ···1·· ·10· · ...7.• ...4.. ·--7·· 20 stock. 10 10 7 ···1-- ···s·· 1 3 ··•··· ........ ...... ...6¼ 3 ·10.. 4 7 7 ···;·· ·--5·· ···a·· ···7·· .··,; .. 4 3 ....... ...... . ... .. ...8.. ···s-- 4 ...... 7 7 7 7 5 5 5 4 4 ...... ···.r· ···s-- ···ii; 5 7 6 7 7 7 7 6 4 6 7 6 5 414 5 ···2~ 5 7 ...... ....... . ..... --·7·· 4 10 ···9:i (e) 4 7 5 10 7 7 4 ···«r· ···«r· 6 8 6 ...6.. 7 1 8 7lt 3¼ 4 8&2 8&2 8&2 8&2 6 8&2 3 ···:r· 8 4 8 8 5 t ···--· 7¼ 6 219 6 6 7 6¼ 6 6 7 2¼ ···4·· 7 219 5 4 . ..... ··-,i; 4 7 ...... ···4-- 4 ···5·· ···;, ·· I 6!1! ···4.·· 5 ...... ···7·· 6 ...... -··5·· . --· .. ...... ···1·· . ..... . -.... 2 6 8&2 ~2 8 6 6 ...... ······ . ··,;·· ···,;·· 8 7 7 2 ······ ...8.. . ..8.. .. ... ···r,·· 7 llg 4 2¼ 3 ---··· ... 6.. ...... . ..... 5 611& . ..3.. 8 8 5 ...... . . ·4 .. 3 8 & 17stock. 4 7 1888. 8 ~ . ...... ...... 7 1887. ···9·· ···2i; 8 1886. ...8 .. 133satook. 5 6 7 7 8 ---c --···· ...... ...... 2111 7 4 ,. ······.. ... 2 7 ---7-- 8uarterly-Mar. uarterly- Jan. Quarterly-Jan. Mar. and S~ti. Jan. and J y, Quarterly-Jan. 719 --·s·· ...... 1884. 7 .>J.g Feb, and Aug. Quarterly-Mar. ~uarterl;y-Jan. an. and July . ---- ............. . ................. I- ~ 1882. 7 4 4 ···;·· 7 7 7 3!1! (ci) 4 ···s·· 7 5 10~ ···;·· 4 7 1 4 4 5scrp· 4 4 7 514 6lt 7 414 7 4 8&2 8&2 6 8\2 4 4 8&2 8&2 Co:J:t:on.. •••.••.•••••••.•••.... Jan. and July. 8&2 8&2 Pref tred .....••..••..••...•... Jan. and July. 65 5 5 1(. '!;. Lao~ & West. (gµar.) •••. ~ua.i:t;erly- Jan. 6 early-Ja.n'ry. 6 )l. Y. La1i:e Er1e'& West., pref .. ! ' lb) DWidenda ohang8tflrom leDli-annnaI to quart.erly In lfaJ', 1884. t In Jan., 1888, old oommon stoQ)J: waa ex.obAnged into new. preferred. (M l>.iYilte)ld..pet:l.od ohan,g~ ~~ q~~Jx to ~mi-arm~. \hg.e dJro1nJ•bJ,"f total_for ~e ;re~ b_y the ~ouai. of.one quarterly pa)'Dlft~ , · (d)''l.~· per eeDt 'Of tbis ts crip. Ct) Alao 5 per ee~\ m 1took ot low,~ ~ I.~an Co.; also ~•~• ln treaaU17. , '· https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ··s·· 1 • l 11 ., ...... · · ....... ........ ...... JANUARY, lNVESTOho' SUPPLEMENT. 1889.j 1882. 188~. 1884. 1885. 1886. 1887. ...s·· 10 10 10 10 Quarterly- Feb. 10 1: --.. -.............. ...... 11 =i ·cei-t:r. ···ai; . ..... ...... March and Sept. Quarterly- Jan. ···s·· ··io·· ..io·· . ..... ...... . ..... ...6.. 9 6 9 ...9.. i 3¼ 16 7 7 9¼ 8 7 7 8 Name of Company. Dividend Periods. B • Y. New Haven & Hartford .. K • Y. Ontario & West., pref..•.. N . Y'. Prov. & Boat.CBtonington) N orlolk & Western, pret ......•. Quar1jerly- Jan . N orthern Pacific, pref .••..•••.. 0 regon Improvement Co ....... ).•ref. do ' Do Oregon·Railway & Nav. Co ..... Oregon & Trans-Continental ... Oswego & Syracuse (leased) .... Pacific Mall Steamship .•....•... Pana.ma .•••..••.......•...•..•.. Pennsylvania Coal. .••..•..•••.. Pittsb.Ft.W.& Chic.,guar.(l'sed) special.. do Do Pullman Palace Car .•.......... . RenBBelaer & Saratoga (leased). Richmond & Danville ........... Richm'd & West P. Term., pref. Rome Watertown & Ogdensb'rg St, L. Alton & T. H. (leased), pret St'. Louis & San Francisco, pref. do 1st pref. Do St. Paul & Duluth, common .... pre.t ......... do Do St. Paul Minneap. & Manitoba. Tennessee Coal & Iron .......... Terre Haute & Indianapolis .... Union Pacific ..•...•..•.......... Wa.I7en (leased) .••...•..••...... Wheeling & Lake Erie, pref ..•. BOSTON. Atchison Topeka & Santa Fe .. Boston & Albany .••...•......... Boston Concord & Mont., prer .. Boston & Lowell ...•...•....... Boston & Maine ................ Boston & Px:ovidence ........... BostonRevere BeMh & Lynn .. CentraJ·Br. Union Pac ..•....... Cheshire, pref .................• Chicago & West Michigan ..... Cin. Band. & Cleve., com ..•..... pref ........ Do Concord ..•..••.......•..•••.•••• Connecticut River ............. Connecticut & Passumpslc ..... Detroit Lansin:!{ & Northern .... pref do Do Eastern, common .•••.•••....... pref do I>o Eastern, N. H. (leased) .••...... ~l Biver (leased) .............. European & North American ... Fitchburg .••.......•........... - -10- - . -... -... ·-. -· .... Feb. and Aug. - .. -..... -... -........ 4 ......... I ----·· 1212 Quarterly- Feb. Quarterly-Jan. Q.uarterly--Jan. ~uarterly-Feb. an. and July. Jan. and July Feb. and A.ug. liirii ··aii<i · ·oai: Feb. and Aug. ··aii«i · itii:v: ian: Quarterly- Feb. Feb:··aii·<i· Aug: Quarterly-Jan. April ·and Oct. 16 7 7 912 8 7 I ·-···· -----7 I 7 ...3½ 9 (k) I ···s·· 7 7 I -~·-~:.<~~~~~:::: i~e1~/~ West Jersey & Atl~ntic .••..• •• fi.i.i.Tl.lttORE. 0 0 16 ...... ...... ···7· · ···1·· ···7·· 8 ···s·· 7 7 3¼scrlp. . ..... ······ ···~¼ 8 . ..... ...... ···7· · ---··· 7 0 3½1°& 78 712 .··s-- 312 7 ---··· Quarterly- Feb. Quarterly-Mar. May and Nov. I Jan. and July. May and Nov. ~uarterly- Jan. an. and July. I 6 8 6 6 8 & 10 stock. 6 6 8 6 Jan. and July. Feb. and Aug. May· ·aii<i .. Nov: May and Nov. juarterly-Jan. eb. and .A.ug. Feb. and Aug. Feb. and Aug. 4 7 .. j .. 212 12th) 6 I Mar.· ·aii<i · ·sei,i: ··iov: iiiiie· ·aii<i ··nee: Aug. Feb. and May and Nov. ····------41g I I 3 51g 8 8 10 5.lg 10 6 10 8 8 8 4 ...6¼ 10 619 10 7 5 5 10 7 5 ···•f· ti Gig 7 7 7 7 6 812 12 10 8 5 10 3 & 3 scrip. i ······ 4 6 6 ...... 6 ....... ···1·· 7 71g 6 5 7 7 ···5ig 8 7 7 7 712 8 812 12 10 8 5 10 3 & 3 scrip. ...... 7 ···1·· 6 ···s·· 7 ........ 6 8 512 6 8 8 6 5 3 11.g ...6.. 10 8 6 6 1 6 6 119 3 ···7·· 7 7 8 6 5 7 7 llg 6 8 7 7 6 8 8 7 12 10 8 5 10 3 & 8 sorip. 6 ···-·· 7 6 ···s·· ·---7 -. ..... 6 8 & 313 stk. 5 6 9¼ 812 6 10 5 3 ti 10 *10 ···o·· 1 ·1s·· 7 7 8 R 3 212 6 ---2~ 7 3t 7 tJ 614 8 5 6¼ 10 10 612 10 6 212 ···s·· 5 . ..4¼ 519 5 7 4 5.lg 6 61g 4 4 8 ~lg 8 7 6 10 . --· -0 4 6 6 1 6 6 3 & 17 stock. 5 ···7·· 6 10 ...5¼ 7 7 6 8 7 5 5 6 6 119 6 6 3 23 16 7 7 8 855, 0- 1¼ /"; 7 7 6 3 514 8 5 7 9 1f 10 7 6 2 5 6 10 8 3 ···sig 7 5 6 9 10 8 5 ...5¼ 319, ···7·· 5 ......... ···4~ ···5·· 1~ """ii; ···7 .. . ...... ···s¼ ...... -- .. ·s .. 5 ··-4¼ ···5·· 10 ..io.. 1 6 ...5¼ 6 & .'7°extra 9 7 5 ...6.. ·--s·· 7 ···7·· ...6.. 7 7 8 8 ···2¼ 7 ···s·· 114 ·i·s·· 7 4 ...7.. 4 I 4 7 ...7.. 15 scrip. 3 4 7 7 7 6 5 7 7 December. 5 519 512 8 7 ..... - April aod Oct. May and Nov. May and Nov. ~uarterly-Fob. an. and July. May and Nov. Jan. and July. .Tan. and July. 5 6 2 512 8 7 6 2 6 4 I 4 ···1·· ···s·· I 419 2 8 6.lg 2 I ---· 6 7 ...6.. 2 8 10 stock. 7 I Jan. and July. Ma.r. an.-l Sept. Quart.erly-Jt"'eb. Jan. aull July. May and Nov. Quarterly-Mar. ~uarterly- Jan. an. and July. Jan. and July. ~narterly- Jan. ar. and Sept. M-0.r. and Sept. -. . .. .... 4 Feb: ··aii<i ..iug: May and Nov. "d"ay and Nov. May and Nov. Jan. and July. Jan. and ,July. Jan. and July. Jan. and July Jan. and July. Quarterly-Mar. l!'eb. and Aug. April and Oct. Jan. anrt July. Jan. and July. ·····4 212 6 May and Feb. and Aug. Feb. and Aug. 4 2 ···o·· . ...... ----·· ·--s·· --···7 . "",iig Jan. and July. --· 3 3 . ... -. . ··7 ·· . ..... 5:lg 6 10 8 512 8 6 June and Dec. AprH and Oot. April and Oct. .... 5 10 16 7 7 8 8 8 8 6 6 10 8 6 6 7 10 ! 5 8 8 6 ···4~(U) ...9 .. 3¾ .... ... 8 8 ···s·· ...... . ..... --- ... 16 ....... j-iiii.e· ·a.iia.··iieo: ~a'tle~-~~~~~~~:::::: ~uarterly-Jan. }!~f? an. and July. Little Schuylkill (leased) ....... Minehill Schuyl. Rav. (leas'd} Nesquehoning Valley (leased) .. N rth Pennsylvania. (loased) ... Northern Central ......•........ Pennsylvania Railroad ......... Phlla.. Germant. & Nor. (leased) PhiladelP,hia & Trenton (leas'd) Pbil& Wil,nfiton & Baltimox:e Bob:uylldll a ey .....•••....... 719 ···s·· ··-······· --- -·--· I ! May·· aiia.· ·Nov: Flin1i& Per~r~arquette, ·prei'.::: Feb. and Aug. Ft. Wayne & Jack. pref (lea.sed> Mar. and Sept. Housaitonic, pref .••.......•..••. Iowa Fall@ & Sioux City .••..... Iow~Railroad Land Co ......... ~ ' Cjty Ft. Scott & Memphis pref. do Do LittJ.~.Rook & Fort Smith ..... . . L~ell & Andover (leased) ..... M • e Ct-ntral ...•...•.......•. . . Manchester & Lawrence ..•..... Marg. Houghton & Onton .• com. pref. do Do Nashua & Lowell (leased) ....... New.York&NewEngland,pref. ~rthern (N. H.) ...........•.... Norwich & 'Worcester (leased) .. Old Colony ..•...•.............. Pittafteld & No. Ada.ms (leased) Portland & Rochester. ......... PortUnd Saco& Portsm.(leased) Providence & Worcester ........ Rutland, pref ..•. . .........•.... V~:nn.ont & Massachus'ts (l'sed) VeTJJlOn~ Valley •......•.. -.... "\Y.Qi:cea1jer NaBl,.ua & Rochester. P~LA.DELPHIA.. Bell'13Gap ..............••....... Camden & Attntic . ............ pref ........ o Do Catawissa (leased), pref .••..•.. new pref........... .Do Del:ware & BoundBr'k (leased) E~ .Pennsylvania (leased) ... ~ 1 Elmira & Williamsport (leased,. pref...... do Do Harrisb.Portsm.Mt ..T.& L.(l'sed) Hun~don & Broad Top, pref. (f) 1881. 412 6 412 l 5 t5 2 512 5"½1 3 218 (ri 4 419 8 7 6 10 5 6 41!l 2 5 2 12 5.lg -----....... 4 3¼1 8 7 6 10 ···a·· 8.lg ...6.. 7 6 7 6 8 7 5 6 6 §12 llg 6 6 6 9 8 7 5 6 6 10 1 6 6 & ---·. - ...... ···7·· 5 (b) ···5 .. ·--2i; 7 8 6 7 8 7 7 8 7 7 7 7 7 7 8 6 5 ···7·· 5 --·5ig 6 7 7 ·i8 5 12 10 8 5 10 6 5 5 6 5 ···4ig 4 7 7 5 8 8 5 12 10 8 5 10 6 5 6 5 7 7 2 4 4.lg 7 7 5 8 8 &108 51,,a 12 10 8 5 10 6 5 7 7 5 41.g. 5 8¼ 7~ 5 8 7 5 12: 10 7 5 10 6¼ 5 5 5 5 5 5 5 5 At:i.a.n. & Char. Air Line (leased) Mar. ~nd Sept;. 4 8 10 10 10 10 ...6.. B:altimore & Ohio-Ma.ill. Stem . . May and Nov. 6 6 6 6 6 6 do. 1st pref. stock. Jan. and J.uly. ' Do. 10 10 10 10 10 10 10 do, Wa.~h. Branch. May and Nov. Do. 6 6 6 6 6 6 6 Central Ohio com ........••..... Jan. a,nd July. 6 6 6 6 6 6 6 do. pref ...•. . ... . •. . Jan. and July. Do. 6 6 6 6 6 6 6 Jan. a.nd July. WiL Columbia & Augusta. .•••. e 8 8 8 6 6 s .ran. llJJli ,Tnlv. WtJminm-.on & Welc'lnn ..•.... (u) Owing to a postponement of some of the earlier dividends, the payment of the last quarterly dividend ff) c vers two yearR' dividend■• · tA.nd 15 peu cen; in common stook.l for 1885 wa&tbrown,1nto Jan11a.ry 1886, rednclng the percentage.for 1885 to the figures here ,ziven. (t) Common stock chan~ed into preferred in this ye1:1i-i:, and 331:3 p . o. i:tock dividend pa.ld. • (". Increll.86 due to- change of dividend oeriod. and 2 per cent 1n cash. Cincinnati, & Springfield Uolumbus of stook in cent per 10 (h> 1882. 1, Nev. quarterly paying (k) Began ,t Also 32.lg per cent e-xtra, out,ot amount received from the Old Colony under the proviaions of lease. Sept. 3_0 and Deo. 31. 30, June quar. 219 R.ntt 81, Mar. auar. 11.j, and Jan. paM. was ,~) DlvidAnd periodR nba.njfed: 3 per o semi-annnal (a) Five. per cent was deolared, payable January 1, 1889. (r> And 30 per eent from MSets. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK AND B.OND TABLES. NOTES. These tables art, expressly intended to be used in connection with the information concernlng l.nveHtment matters published from wf'ek to Wflek In the CHkc)NICLE-to which an index is furnis hed in tne remarks on e ach p a ge. Annual report.a are in blaok•fat.'ed figures. The dividends as we e:ive them h i the remarks are those paid ln the year named, or such aR have been declared and will be paid in it. In many instances theae a:lvidends are 1 sid in part out of the earniu~s of t h e preoedin.r year, and hence it is that the dividends appearing in connection with the earninga t>f a, t-ar oft('n differ from the dividends paid in the same year. . The following will give e xp la ua.t ions ot ea.oh of the columns of the tables below: Duertptwn. - Railroads leased are sometimes given under the lessee's n ame. Abbreviations used are: M. for "mort!?a.ge;" e. t. f6r "sinktng fund " L gr. for "land grant;'' r. for "r.sd8tered;" c. for "coupon;" c. ~ for " coupl>n but may be registered.;" o. & r. tor '1, coupon and registered;" br. for ''branch:" guar. for "guaranteed;" enrt. for " endor sed." :Date of BonaB.-The dRte of issue 1s referrPd to in this column. Milu of Boad.-Oppol'it.,, stocks, this mf'ans the miles of road Otlerated; opposite bonds. the miles covered by the µiortgage. 1/ize or Par Valiu..-Thf'se fig1ues are dollarR, showing the denominations or par value. The figures "100, &13.," signify $100 and larger. Bate Per Oent. The interef;t ,,_,er annum is given for bonds, but the per cent of iast d ividend for Ettooks; f!, means gold; x, extra; s. stock or ecrip. lfhen Payable.-J. & J. 11tands for Jan. & July; F. & A., Feb. &Aug.; M. & S., }larch & Se pt.; A. & 0., i\prll o'l!; Oot.; M. & N., May & .Yov.; J. & D., June & Dec.; Q.-J., quartt-rly from January ; Q.-F., quarterly from Feb.; Q.-M., quarterly from March. Bon,u, principal when oue; Stocks, last dimdena.-'.the date in this column shows the p eriod when the principal falle due of bond8, but the time when the last dividend was paid on MtockJJ UNITED STATES BONDS. DESCRIPTlON. Author- Size o~ Amount izing Act. v~~e. outstanding. Jan. 1 , '89. INTEREST. Rate. When pay'ble -- -4, --------------------1-----------u of 1907 coup. and reg., incl. refund. oortfs. 1870 & '71 $50&c. $681,1 3-7,600 coin. Q.-J. ~91, 50&c. 181, 152,300 412, coin. Q.-M. 50&c. 14,000,000 3, coin. J.& J. J. & J. Co.ITeRcy 6s, issued to Pacitl.c railroads ..•..••. r J'y 62&'64 lOOO&c. 64,6 23,512 6 ,12s of 1 coupon and registered ..•..••.•••. 1870 & '71 3 percents, Navy Pf'nsion fund .....••..•••.••. Julf, 1~68 Prtnolru!-When Where payable and by whom. ue. U. 8. Treasury & Sub Treas. do do do do U. 8. Treasury. July 1,1907 Sept. 1, 1891 1895-6-7-8-9 All the Government bonds except the currency sixes are r ed eemable' and $10,000, and mature as follows: $2,362,000 Jan. 16 ID coin, the sort of coin not being specified. The fours and four and a 1 18!l5; $640,000 Nov. 1, 1895; $3,680,000 .Jan. 1, 1896; $l,3t0,0JO halffl are iMued in bonds of $50, $100, $ao0 and $1,000, both coupon Feb. 1, 1896; $9,712,000 Jan. 1, 1897, $29,904,952 Jan. 1. 1898, and and ~..terod issues, and the regifltert-d bonds alflo 1D pieces o r $5,000, ,· $14,004,5611 Jan. 1, 1899. The interest on registered bonds is malled fl0,000, $?(),000 and $50,000. The United States currency sixes are pay- by check directly to the holders or to any a.ddre88 request.ed by the able in "lawful money," all registered, issued in pieces of $1,000, $5,000 r egisteied holders. I STATE SECURITIES. Subscribers 'Will con.fer a great Cavor by giving hnmedlate notice of any error dl•covered In these Table.. DESCRIPTION. Date of Bonds. Size or Amount par Outstanding Value. Rate. INTEREST. When Where P~able and by Payable om. Prtnoi~-When · 1876 $100&0. $6;747,000 4 to 5 J. & J. N. Y., Am. Exch. Nat.Bk. 8ut1tltut'n b'ds for RR. (Bl ( 9 ,000) . ••.. , .. do do 100 &o. 539,000 J. & J. 1876 5 do for Ala. & Chatt. (C) ($1,000,000) J. & J. do 953,000 4 do 1876 100 &c. Funding 1040s (tax-rec'ble 10-20 yrs.) ..••••. 1880 J. & J. Mont~omery. 954,000 6 1838 J. & J. ) 108,000 6 $302,400 ) lllterA.rkansas-B,,nds issued to State Bank ..••..... Bonrts to Real Estatt'I B'ks, letters "A" & "C'' 1838 J. & J. l 573,000 6 1 ••••• . , . Funding bonds of 1869 ..•......•••.••••.•.•.• . i,ooo 478 ,1 00 J. & J. 1869 6 469,890 due&l Fu.uding bonds of ''iO (exclusive of Holford's) J. & J. 446,550 un1,000 1870 458 ,000 6 Sin king fund bonds rei.s1m"d in 1888 ..•... .• .. 1875 J. & J. 1,000 412,000 6 -~865 paid. Rep· 11ted. 1870 1,000 904,f>50 6 Fnnding bonds 1870/Holford) J ..&..J. Lt, vt:ti 1JOuds (or warrants).... not recognized Repu,.t iated. 1870 100 &o. 1 ,986,773 7 Bon,1 s to railroads . •...••.•••• Repudiated. 1,000 A.. & o. 1870 5,350,000 7 ,1,tijorn,a--Funded debt bond.fl, rE>deemable .•.. 6 g. Baoramento. Treasury. 1873 500 &c. .J. & J. 2,688,000 1883 1,000 Hartford, Treasury. 500,000 319 J. & J. fJannuticta-Bonds (sink. fd.) not tax:e.ble ... c ..tr do do ... ·•··•···••· .... r Bonds, 1884 1,000 1,000,000 do do 3-¼l J. & J. Bonds, coup. orreg .••..••..••..••• . .•...•..•• . 188li 1,000 1,740,000 A. & o. do do 3 Bonds registered (redeemable at will) .••...•. r 1887 1,000 5 00,000" do 3¼ M.& N. do .J)etuwani.-Refund'g bds., l:l(jfies "B" & "O'' ... 1,000 215,000 1881 4 J. & J. Pblla., Philo.. .Nat. Bank. Boncls, redeemable after June 1, 1895 .....••. 1885 1,000 120,000 4 J. & D. do do Bouds ._ ..••..••..••.....••... . ... . .•• . ..••.••. 2 fl 0,000 1887 1,000 3 do do School bonds, held by school fund ..•..••.•••. l8tH 156,750 6 1872 500&0. 3,031.600 6 g. J ..&.. J. Wash. or N. Y., U. 8. Treas. 1Jist. of OolA.tmbiar- Penn't imp't, gold, coup .••. Permanent improvem&1.t bonds, coupon ..•... 100 &c. 515,600 1873 .J. & J. do do 7 Bela tor fund'g (Act June 10, '79) ooup. or reg. 1879 100 &c. 9~0,400 J. & J. 5 do do Fund. b'ds (U.S.guar.,ActsJune,'74&1'...eb.,'7!'>) F. &A. 1874 50&c. 14,033,600 3·65 do do 187?, 1 ➔ 4,900 J. & J. Market stock, • inkin~i/und, not drawn ... c&r 50&c. do do 7 Wat.'rst'kbds.s.r.(:t; , ,OOOciueJuly L l S10~). 1! 1871 to'73 1,000 375,000 J. & J. do do 7 Wash. fund'g,g. (ltiti()4,l00M.&N., Nov., 190~) . 1872 100 &c. 1,558,750 6 g. J. & J. do do ,zon,d~tat,e 1Jond8......•...•...•...•.. •.... . c 1871 100 272.100 Jan.I N. Y.,Park Bk.& Tallahassee 7 Gold bonds .••..••..••..••..•.......• . ......•.. c 1873 100 &c. 774,700 6 g. J. & J. do do Beorg~uar. g. bds ,act of Sept. 15, 1870.c&i· 1870 1,000 2,098,000 7 g. Q.-J. N. Y., Fourth National Bk. Bonds, a.ct of Jan. 18, '72 ..•..••....• . ... . c&r 1872 500 &c. 307,500 .J. & J. do do 7 Bonds to fund coupons on endorsed bonds.c&r 1876 1,000 J. & J. 542.000 do do 7 Bou de pr, ,vided fot· by 4 ¼l per eta. below . . c&r 1,000 2,141~000 .J. & J. 1877 6 do do Fundin~ bonds, Act Doo. 23. 't-4 .. ..•. . c·&r 1 885 1,000 8,392,000 New York & Atlanta. 412 J . & J. Refundin~ bds., $l00,0 J O y'rly '98 to '16 c&r 1888 1,900,1 :00 1 ,000 J. & J. do do -..19 8t~ Universit y Bouds . ..... .. .•. . ...•..••. . . r 1882 & '83 254,000 Various do do 7 . ·-· 2,025,0QO 3&319 N. Y., Winslow, L. & Co. Jn <.1,-wina-'l'eml)Orary 1011,ns h ..-ld by banks ..•••. 1 >< 85 & '87 ~ouool fund bo11d11 (non-ne~otiable l .. . . ....••• . 1867 to 'ri7 Various 3,904,783 do do 6 J[,in.as-Bondfl, $5f>9,, OOheld m State l'ds •.••. 1866to '75 lOO&c. 815.000 J. & J. N. Y., First Nat. Bank. 7 Jl--ntt~ky-Bonct.s, gold .•.•.••.••.•••..••..••.•••. 1884 1,000 500,000 ~g. J. &D. N. Y., U. 8. Nat. B nk. 174,000 1,000 Military bonds .••.•••..••..••.•••••.•••..••..••. 1866 J. &D. Frankfort, Ky. A. lal>ama--Substitution bo:nds ~) ~$7,000,000) . l .., ---· .... 1 J I a ---- ·--- AJabama.-The "A" bondl:l btmr 5 per cent after 1896. Ana lysis of tbe tuuc1111g of 187n was giveu in the CHRONICLE, V. 24, p. 28. The 10· (O's ot '80, tiue in 1900, may be called at par after '90. The assessed valu ation of real estate and personalty in '!:!::$ was $158,5 18,157; in '85 , $17i,5 :t8,933 • tax raw, l'O per $1,000; in '87, $214,925,869-taic rate, $5 50; in '88, tax: rate, $5. Ark.an•a•.-Total undlsputf'd debt O ct ., '88, was, prinoipal, $2,029,· 100; intt-r,-1,1tov,-rdut.', $2,83:l,915; t ,,tal, $4,86~,015. '.l'lle State tiupreme j(v,111'\ lttocided Levee uu.uui:; u1 'ti!J .. ud ' -u ill va lid; nor are the Holford or ~ e Railroad Aid bondi, r ecog 11wd by the 8ta te. In J a n., ' d3, a ,teoi8ion wa1,1 waoe by the U .8 . Cir1.1u1t Court, substantially holaing t he RR. Cos. res ponsible for the Stat~ IJond..-. issued to tllt'•u, but this was reversed a.nd the case appealed to U. 8. Suprewe Court. Tue !State has bee n in default on interest vaym ·nts i,lnce ·4L. 1,ut under a ,·t of '8 , ove1due c ou po ns w ere uuu1e t'Xchan.l! ea llle fo r ,·ert ittca tes of indebt ednes s, w hich aro rece.iva ·,le f ,,r certain a ccounts aud. dues. £.Ile following are offloial a ssess• ment.s twd tax rate per $1,UUO: R eal Estate. Personal. Tax Rate. $50,403,842 $7 1884. ·····-··· ............... $81,64 \1,415 52,13.i,5:30 4 ll'lb5. •••••••. •••• •••••••.•••• 82.273,0::15 57,499,512 5 18,- 7 • . •• . •••. . ••. ............ L0,760,142 -(V. 44. p. 421.) CalUornta.-The Stat,e holds in trust for School and University tun rls f2.3ti4-uoO bonds of 1873, lt,aviug ouly $ s34,00U in private hands. A.sse8Stld valuations and rat,e of tax: per $1,000 have been: Y e&rl!. Real Estate. Personal. Tax Rate . 1880 . •••••••••••.••••••••. $6 · -!,50 ,568 $151 ,9d7,132 $ ••60 18~7 .•••.••. ••••••••.••..• 7 ~9,9~0 .oOl 165,475,:t38 6·03 1868 ........ .••• ••••.••• 1134,433,605 17:l,6n,122 5·o4 Conneetleut.-The debt of Connecticut was all created originally for var 11urpoees. Asses96d valuation and ta.x rat,e per $1,000 have been: Years. Real Est. & Persona.I. Tax Rate. 1885 .••. --- ••• -·· -- • ••• • •• $349,177,597 $2·00 J8R6...................... H49.7 5,773 1•25 1887. ••••••.••• .•••...••• 852,795,928 •••••• The aeeeeaed valuation ot real estat,e is M.bollt 70 per cent of the true value. -(Vol. 44, p. b08; V. 4..7, p. :126} https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 r ue. July 1, 1906 July 1, 1906 July 1, 1906 Jan. I, 1900 Jan. 1, 1868 Oct., 1861 July 1, 1899 Jan. 1, 1900 July 1, 1905 1900 1900 1899 & 1900 July 1, 1803 Jan., 1903 Jan. 1,1903 Oot.1, 1910 May 1, 1897 July 1, '91 & 1906 June 1, 1906 June 1, 1907 July 1, 1906 July 1, 1891 July 1, 1891 July 1, 1899 Aug.l 1924 July 26 1892 Oct. 1, 1901 & '03 .Ju]J;l,1892 &1902 a.n. 1, 1901 Jan. 1, 1903 Oct. li 1890 Jan. , 1892 July 1, 1896 Jan. 1, 1889 July 1, 1915 6 Jr:s;ti::tll~ April 1, '90 &. '95 .1u1y 1, iss9 to'DI June,1905 Jan., 1896 Delaware.-Of thelesueof '81 series "B" were redeemableJuly, '86, to ' 91; and <11:1r1es " V'' redeemable July, '91, to 1901. In addition to above $83.000 is due Dela. College. No State ta.xis levied, nor assessm'ts made. Dl•trlct of Columbta.-Interest and sink'g fund on the 3-65 bonds are provided for by Congress; the amount ts llmij;ed to $15,000,000. Real and personal efltate. &o.• aaseseed as follows: '85, real estate, $93,491,· 891; personal, $12,715,686; tax rate, $lb; in '87, rea.l estate, $112,300,000; p ersonal, $12,000,000; tax, $15 per $1,000; in '08, real estate $111,744,8 31.1; personal, $10,94:i,458; taxrate,$15and$10 on farmland Flortda.-The sink. funds Feb.,'88, held $228,200 bonds, and school &c., runllti h eld $407,300, leaVing outatandin~ $411,300. Coupons of all bonds are reod vable for taxes. Real and personal propercy assessed in ' 8 3, $ >5,008,560, t a x rate $4 per $1,000; m '84, $60,042,655; tax rate $4. As11essment m 'M6, $76,611,409; tax rate, $4.. In '87 real estate, $ 6o,9 u8 .163 ; personalty, $19,357,499; tax rate $4·50 per $1,000. In 1880 tax r a t e , $4. Georgla.-Tot a.ldebt Deo. 81, '87, $8,734,500. After '87 State pay1 off ,t;lOO,ooo ann ually. The oonstitutional amendment in 1877 declared. vo10 i,everal issues of bonds and railroad. endorsement.a. The 419 ~· o. bonds of 18!:!8 wer e sold to take up other bonds maturing in Jan., SQ. T ax rate in 1887 ;t;3·77 per $1,000. Assessed valuations have been: Y ears. Real Estate. Personalty. Railroads. 188 -1 .•••.•••.•••.••. $174,4.52,761 $120,432,609 $22,188,901 1885 .••..•••.•••.. ·- 179,946,059 119,200,739 23,000,294 18"'7 ·••· · ··· ·······- 188,912,217 127,6 ~3,112 24,899,592 1 888 .••. . .•. ·••···•• 195,616,435 132,246,896 29,3lJ4,127 .:_(V. 46, p. 7,1.) Indlana.-There are alRo outstanding $340,000 5 per cent bond.a due rno1, held by Purdue University; $144,000 State University bond• held by T1·ea8urer, and a.bout $ L8,000 miscellaneous issues or bonds. Valuation for 1886, ~793,526,079, Valuation for 1887, $79-l,696,597 tax rate, $1·225: poll hx, $0·50. Total debt Oct. 31, 1887, $6,430,608 Kan8as.-Kansae has but 'a smallStat-c:, debt, but th6 issue of ruuntcipal bond.8 was e~tiwatedat aboutlB25,000,000 Jlill. l, '88. Population1n'84, l,13f>,614; in •~7, 1,500,000. Valuations(¼ ot true value) have been: Ye~. Real & Per.Prop. Tax per $1,000. Tot. Debt, 1886 .•.•••••••••••. ---- ··-· •• Ii' t77, 113.323 $4 10 $880,500 1168 ..•. ....••..••..•.. ······- 353,248,333 4 10 816,000 JANUARY, 1889. l • STATE SECU .KlTIES. Subaerlben wUl cooler a grea1 favor by giving Immediate no'&lee or any error dl.eovered In theH Tablea. DESCRIPTION. -.Or explanation see notes o n ~ ~a.~a o:t tables. Dateo:t Bonds. Loutriana-Relie1 or State Treasury and mJsoel. 1853 Bonds in aid o:t varioUB railroads........ • .••. ·isio Bonds to Boen! & Crooodile Navicrwtion Co ••. do to Mississippi & Mexican ult Oanal .. 1869 do school, held b\ISt. Treasurer .•••.•••.. 1857 do to N. Orleans, oblle & Chait. RR..••. 1870 do to N. Orleans, Mobile & Texas RR ..•... 1871 N. O. Mob. & Texas RR. bonds, end. by State 1869 Consolidated funded bonds (ste.mped 4 per ct.) 1874 Constitutional bonds of 1880 .•.. 1880 do "Baby" oonds and coupons, overdue ..•. . ..... 1880 Jfaine-Bonnty loan bonds ..•.....••• . . . ..... c&r 1864 1869 Muni~ war debt assumed ..•..••••••... c&r llaryla Baltimore & Ohio Railr'd, sterling.o 1838 Chesapeake & Ohio Canal, sterling .••.. . ••... c 1838 Railroads and canals .•••••.•••.•••.•.••• • •••.. r 1838-47 Eastern Shore Railroad ....................... r 1839 Baltimore & Susquehanna Railroad•..•...••. o 1837 Baltimore & 8UBquehanna RaHroad .....••... r 1839 Annapolis & Elkridge Railroad ..•• . ••...••. .. r 1839 Defense redemption loan ..••.•••....••....••. r 1882 Treasury relief loan, 10-15 years...•...••.••. o 1878 Exohan,:e loan of 1886. . . . .................. r 18x6 Exchange loan, '89 \$4,381,067) ta.x: free, gold 1889 MauacnuseUs-Bounty Fund Loan ..••...•. o*&.1864 do do sterling .••.....•••.••. o*&r 1864 1869 War Loan,sterlin~····· .....••.....••...•. o*&r Troy&G'. RR.,$!, 11,324 due July.,'89. o~&r 1858 to'61 do home' $216,500 due Apr.,'91.o"&r 1861 to'63 do do sterl'g.. c*&r 1871 1875 do do sterl'~o•&r do do d'rb' o*&r 1873 to'74 do do do c*&r 1875 do do do o*&r 1877 Southern Vermont Railroad Loan ......•. o*&r 1860 Boston Elart!ord &Erie Railroad, sterl'g.. o*&r 1868 to'69 Harbor Land Improvement (5-208) .. . •••. o*&r 1874 &'76 Danvers Lun.Hos. (~900,l.00 due '94). ·~ o*&!· 1874 &'77 Lona.tic Hospital, Worcester....... . ••. o•&r 1875-'76 New State Prisons, sterllng ..•..•••••.••.. o*&r 1875 Armory bonds . • . . . • • . • • • . . • . .••.•••.•• . ..••. r 1888 Jfichiganr-War Bounty Bonds .....••...•.••..... 1865 Jfinnesotar-Adjustment bond&, (10-30,red.'92).o 1881 •usoun-University and Lunatic Asyl'm bds. c 1872 Penitentiary indemuity .••..••....•..••...•... o is14· State Bank stock refunding .....••.•.••.•••... o Bonds to Cairo & Fulton Railroad ...... ...... o 1857to'59 Bonds to Platte Count;v- Railread ............. o 1859 to'60 Bonds to Iron Mountain Railroad . . ..•....••. o 1854 to'59 Pacitl.o Railroad of Missouri ..•...•...••...••. c 1853 to'59 Funding bonds ................................. o 1874 do 5-20 years . ••..••....••••••..••. o 1886 & '87 Hannibal & St. Joseph Railroad renewal .... c 1874 Nebraska-Bonds (act Feb, 14, 1877) ..••...... o* 1877 Nete Hampahire--War loan, coupon bonds ...•.. 1864 Municipal war loan .••..••...•....•...•...•...•. 1872 Loan of 1879 for refundin,z,$100,000 duey'rly 1879 Prison loan, $14,000 payable yearly ...••...•. 1879 New Jtrsey-War 1oan bonds, tax!ree .••...•.... 1863 do do taxable.... . • .••..••..••..••. 1864 1875 Nt1D Y<rr~ { { Canal debt, Under Art. 7,Seo 3, of Con1873 1874 reg. stock. stitution. Niagara Park J,oa.n bde. (held in trust funds) . 1885 Sue or -?afu'e. Amount outatanding. --- ---- --'43,ll!i $500 162,000 1,000 1,000 80,000 260,000 1,000 1,000 48,000 70,000 1,000 l;oo<) 2,500,000 1,000 875,000 100 &c. 11,796,400 2L7, 650 500 &c. 1,386,444 500&c. 1,748,000 2,187,000 lOO&o. 1,752,222 2,248,889 309,485 31,069 269,000 298,435 62,605 3,000,000 500,000 1,898,829 .... ---· ··-·. .... ---· ---· .... ·--· .... .... ..... 500 &o. .uoo&c £200 £200&c 500 &o. £200&0. £500 1,000 1,000 10,000 5,000 £200 1,000 1,000 1,000 £500 i,ooo 1,000 1,000 i,ooo 1.000 1,000 1,000 1,000 1,000 1,000 1,000 1.000 1,000 100 &c. 1,000 1,000 100 &o. 100 &c. lOO&o. 100 &c. 100 &o. 1,000 4;379,500 4,022,649 1,005,419 2,4~9,042 1,366,500 3,618,242 1,506,182 300,000 1,300,000 370,000 200,000 3,618,729 300,000 1,500,000 1,100,000 1,299,355 815,000 229,000 3,965,000 185,000 24,0U0 80,000 246,000 428,000 143,000 143,000 617.000 7,000,000 659,000 449,267 150,000 2,206,100 400,000 28,000 702,900 593.400 473,000 3,683.200 1,986,000 700,000 Kentucky.-A~ainst the bonds as above the sinking fund held $723,23,';, Sept., '88. Valnation in 1884, $377,888,542. In 1886, personal, $95,654,572; real es~ate, $293,204,320; in 1888, personal, $131,184,404; real estate, $361,184,4.04: tax rate, $4.75 per $1,000. Lont&lana.-Ja.n. 1, 1888, total adjusted bonded debt was $12,014,050; :ft.oating debt (incluuing baby boHda, eto.), $2,797,123; old bonds tundable at 60 uer cent, $'J4,115: ol~ bonds not fuo.daole, $3,953,000. Theoonstitutionaloonventiono:t 18,9 respectingtne State deM pa~sP.d an ordinance providing tha.t interest on the consolidated bonds would I.le paid at the rate of 2 Pio. for 5 yea.rs from Jan. 1, 1880, 3 per cent for the ensuing 15 years and 4 per cent thereatter; al:oo, that boldera might exchange their bonds at 75 cents on the dollar :tor new bonds l>ea.rlni-! 4 per cent interest (the so-cal!ed constitutional bondA), but only $217,650 ot these new bonds were issued. In 1884. an amendment to the ordtna11oe was ratitled 11.xlng the interest on the console at 2 per cent for 5 years from Jan.' 1, 1880, and 4 per cent thereafter (doin~ a.way with the 8 per cent altogether), and providing that the reduced rate shouldbestampedontne bonds and coupons. This took effect Jan, 1. 1885 and since then no distinction bas been made between theoonstiutioo'a1 and coneolidared bonds, both l,eing called console. The baby bonds were issued to fund certain obligations of charita ble institution!:!. A. suit by the State of blew Hampshire a#/:alnSt Louisiana, as assignee or her bonds, was decided in fa.vor of Louisiana oy the U. 8. Supre me Court. In 18-i7 ass<>ssed valuation was: Country pal'iRhAS, $86,82:),501; parish o:t New Orleans, $125,0l:16,250; total, $211,925,751. Malne.-The debt January 1, 1889, was $3,935,400. Market value o:t bonds in the sinking rund, $1,199,107. During 1887, in aocordance with a new law, all State of Maine bonds in the sinking fun d we re ca ncelled. Tax rate for 18~5-6, $3·75 on valuation of 1881, $235,ti0U,000; In 1886-7 and 1887-8, $2·75 on same valuation. .1U:ar:,land 0 -Total funded debt Sept. 30, 1888, $10,370,535; sink• Ing fund as:oets, $1,620,0~6. The State has largely a ssisted canals and railroads, and nolds $5,1;';4,435 of stocks and bonds r a nked as productlve; the State also holds $28,85Q,738 in unproduotive securit ies, which includes $26,177,460 on account of Chesapeake & Ohio Canal. The •• Defense Loa.n " is secured l1y a, special tax: of 5-½! cents yearly , Bonds due Jan.1,1F89, to be retunded into the Exchan ge loan of 18~9 old bonds bei11 g take11 in exchange for new issues. Assessed valaation, &o.. have been: Years. Real & Personal. Tax per $1,000. 1886 .•............... ··············· .... $4.76,829,611 $1 87¼ 1887 . --··.. .. .. .. . . . . . .. . . ... . .. . . ... . .. 4135,839, 772 1 87111 1888 ........... .. . .. . .. . . ......... •...•. 490,016,183 1 77¼ -(V. 43, p. 217.) D1aau.chu•ett1J.-The funded debt, Jan. 1, 1889, was $28,351,619; a1nking funds, $~3,235,609. The Hoosac tunnel and connections, wbich cost. the State heavily, were sold in 1887 to Fitchburg RR. Cities in this State are allowed to incur permanent debt. to the a.mount of 2-½! per cent of average valuation of the three preceding years. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rate. 6 6 8 7·30 6 8 8 8 (7) 4 4 3 6 6 5 g. g. g 5 3 6 6 3·65 6 3 (1) 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 3 7 4¼ 6 6 6 6 6 6 6 6 3¼ 6 8 6 6 5 5 6 6 6 g. 6 g. 6 ll• 2¼ INTEREST. When Where p:h:~~ and by Payable Prlno~-Whea ue. •-1 J. & J. 11 July, 1898 Various 1872tol906 06,_ J. & J. 80,000 Amounts not { Jan. ~J890 M. &8. 260,000 fundable, I 1 48,000 r report of VarioUB 1897 J. & J. July 1, 1910 70,000 ran. 1, 1888. Apnl, 1911 A.. & o. 2,500,000 875,000 J .. &.J. N. O.& N . . , Wins .. L . &Co Jan~·i; 1914 • ,Tan. 1, 1914: do du J. & J . .J. & J. Last paid Jan., 1885 . Overdue, 1886 J. &D. Aug. & l:Soston, SuJfolk B'k June l, 18~9 A.. & o. Oct, 1, 18R9 Augusta and Boston. Jan. 1, 1889 London, Baring Bros. J. & J. do do J. & J. Ja.B. 1, 1889 Q.-.J. Bait., Farm. & Meroh. Bk. 1890 A. & 0. April 1, 1890 do do Quart'y 1890 do do Q.-.J. J an.1,1890 do do April 1, 1890 A.. & o. do do Ja.n. l, 1899 J. & J. do do Jan. 1,1893 do J. & J . do QO J. & J. 1900 & 1901 do July 1, 1993 J. & J. May 1, l~lJ4 M.&N. May 1, 1894 London, Baring Bros. M.&N. July 1, 1889 do do J. & J . do Various do Jum 1889 to '90 Ap . , 1891 & '93 Boston, Treasury. Various July 1, 1891 London, Baring Bros. J. & J. .Jan. 1. 1895 do do J. & J. J" uly l , 1894. Boston, Treasury J. & J. Jruy l, 1895 do do J. & J. do Sept. 1, 189'7 do M.& 8. do do A. &O. ~rill, 1890 London, Baring Bros. an. 1, 1900 J. & J. Sept. 1, 1896 Boston, Treasury. J. & J. Jan.1,'94-Bep l,'9'1 Boston, Treasury. Various do do Various MJ 1,95-Bc~ l,'98 an. 1, 1895 J. & J. London, Baring Bros. & Co. 8.-pt. 1, 1918 Boston, Treasury• .M. & 8, )'la,y 1, 1890 M.&N. N. Y., Am . .Exohanf('e Bank. July 1, 1911 J. & J. N. Y. City, First :Nat. Bk. JUll l, 189~ J. & J. N. Y ., Bank of Commeree. do do Avril 1, 1895 J. & J. Aprii 1, 1894 do do J. & J . do Apr. & July, 1889 do J. & J . do Auir., tt-0 ,'8~ &'90 do J. & J. do May 16, 1889 do J. & J. do Mar. 7, 1889 do J. & J. do do Jwy, 1894 & '95 J. & J. 1906-7-8 do do J. & .J. do 1894-5-6 do J. & J. N. Y., Kountze Bros. April 1, 1897 A.. & o. Sept. 1, 1889 M.& 8. Bost., Bk. Oomw'lth & Con do do Jan., '92 to 1905 J. & J. July 1, 1889-'9ll do do J. & J . no do Jan., 1890 & '91 J. & J. Jan., 18b0 to '98 J. & J. Jersed City and TJ!nton. Jan., '97 tol902 0 J. & .J. Oct., 11893 A. & 0 . N. Y., Manhatta.n Co. Bank. do do July 1, 1891 J. & J. do Oot. 1, 1892 du A.. & 0 . J. & J . State Comptroller's Offlc e. $100,000 vear]y f Boston: Treaaiiri. j Real Personal Total 8~ Years. Estate. Property. ~bt. Funds. l884 .•••.•••••• $1,258,452,712 $829,339,811 $31,42:i,680 $17,7Sl,725 1886 ....•••.••• 1,340,493,673 839,40-l,214 31,4~9,680 18,964,412 l887 -··· .•••• 1,407,660,086 901,865,934 31,429,680 25,151,517 Michigan -The debt le oraotioally extinguished as the Bin.k:1ng fund llas suthment ~sets to pay the bon<l8. ' 1'.llnnesota.-Mlnnesota re:tu.sed :tor eome years to recognize the "State ~ailroad Bonds" of 185~. to the amount of $2,275,000, but a comproID.l.8e with the holders in _1881 was carried out by the lesue ot the 4¼ per cent bonds. Sin.km~ fund astIBts Aug. 1, 188~, about $1,994,210. Taxable valuations and State tax per $1,000 have been: Star,e Years. Real Estate. Personal. Tax Rate. 1884. ...•...•...•.••••.••..••• $:307,859,774 $80,298,879 $1:30 1885.. .••. .•• .••. .•••. .••..•. :HO, 78~. ll8 80,30 1,.000 1 80 1887 .•••..•...••..•...•...••. 391,723,360 94,846,600 1'90 1888 . .•. . .•...•...••......••. 454,677,586 122,6::lti,OOO 1·70 1'.IIHourl.-Total State debt Jan. 1, 1888,was $13,632.0J0, including school fuud and Univ~rsity oertir1oa.te8 of indebtedne,is, $3,tJ;j~,ooo. The tax rate is $! per $1,000, $2 beiug for interest and sinking fund and $2 for revP.nue. All surplus reveuue goea tu sinkm..i; fund. rlonds mat.urini! in' 88 w~ re funded iu 5-20 year bonds or pai I frn,n t11ultln~ fund. The following is a. statement of the asa&1sed property in this t:3ta.te. 1885. 1886. 18i:s7. Real estate ..•••...•••• $518,803,118 $519,771,078 $552.tH5,906 Personal property .••• 181,133,128 18~.070,408 185,47-l,007 Rai.lroadproperty,&o. 46.4.\4,x36 49,346,327 51,i71.162 Tota l ..•• . .•••.•••. $740,;:fol,001 $751,3.j7 ,813 $7ou,mH,145 Nebraska.-The State school fund holds $326,267. Assessed valuation of real est ate, p er son al, r ailroad, &c. (3313 per oent or true vall1e, and tax rate per $1,000, have been: Years. Valuation. Tax Ra.te, 1887 .•••.•••.•••.•••.•••.•••...•.•.•.•...••... $160,n06,266 $8· 1219 1888. ·•···••·••··••· .•••.••...•• ..••.•••.•••.. 175,815,355 7·50 New ff ampshlre.-ThA debt of New Hampshire W8,(,I oreate<t :tor war purposes. The Muniotpi.;. loan of 1872 was issued to cities anrl tow~ the proceeds to be applied tu their war deuts. Total valuation in 188is $227.914, :'1 43; in 188-1, $231,340,088; in l~o7, $Ml,843,til 7; tax rate fo1• State pm·po es nearly :t;l·66 on $1,000 of val11atiou; average tax rate r0r all purposee, $13·80. New .J"ersey.-The debt was created :tor war purposes. Valuation. of rea.1 and µersona.l property ft,a.-x:a.ble) was $586, ➔ 17,360 to 1 ➔ 87. $565,500,687 in 1885; $554,R28,ll4 in 1884; $548,495,069 in 1883. ~tate school tax for 1~87, $i 48 per $1,000. New York.-N1agara loan bonds are held by Sta.tie in its trust INVESTORS' SUPPLEMENT. 6 [VOL. ALVHI. Sub•crtb~r• will conf'er a great Cavor by giving lmllledlate notice of' any error dlacovered In 'these Tables. DESCRIPTION. For explanation see notes on first page of tables. Date of Bonds. I l .... 4 .J. & J. N. Y., Nat. Bk. of Republic. July 1, 1910 $50 &c. $3,096,586 2,014,300 6 Various Cps. since July '68 unpaid. 1868 to '98 500 &c. 6 1,000 202,000 Various Raleigh, State TreMufy. 1884 to '85 2,593,000 6 A. & 0. N. Y. Nat . Bk of Republic. April 1, 1919 1,000 6 1,180,000 .... Cps. since'July '68 unpaid. 1868 t.o '98 1,000 44,000 6 1,000 A. & 0. Coup. of J an.'69&since unp. Oct., 1898 6 1,000 11,366,000 A. & O. Cps. A & 0'69 & Ap '70 unp. 1898 to '99' 3 3,040,000 J. & J. N. Y., Nat. Bk. of Republlc . .July, '89 t.o 1900 5 lOO&c. 4,430,500 F. & A. Phila., Farm. & Mech B'k. '92 to Feb.1,190~ 4 1,802,900 100 &c. F. & A. do • do '94 to Aug.1.1904 50&c. 6,861,100 3½&4 F. & A. do do Feb. 1. 1912 50&c. 992,600 3~&4 F. & A. do do '89, '90, '91 & '92 500,000 6 .... Harrisbur~, Treasury. Feb. 1, 1922 609,000 6 J". & J. Providence, R.I.H. & T. Co. July 1, 1893 1:000 732,000 6 1,000 F. & A. do do Aug, 1, 1894 152,463 6 J. & J. Columbia, StateTreasury. 1871, etc., t.o '89 1,000 6 g. Various 249,086 50&c. do do 1887 to 18!?7 6 g. J. & J. 1,000 51,000 do do ,T'lyl,'75"6,'7',8'9 6,002,140 500 &c. 6 .J. & J. N. Y., Nat. P. Bk. & Colum. July 1, 1893 400,000 500 &c. . ......... ~. July, 1928 4½ J. & s. 191,800 July i";i914 1:000 2,006,000 { ..6. J ..&.J. 1,000 l 5& 6 J. & J. 1892, '98, 1900 397,000 1,000 6 J. & J. Nashville, Treasurer. Various. 500&c. 473,000 3, 4, 5, 6 J. & J. Jan.I, 1912 100 &c. 12,474,600 3 J. & J. N. Y., Winslow, Lan. & Co. July 1, 1918 1,386,300 5 & 6 J. & J. do do 100 &c. July 1, 1913 65,200 6 Various State Treasury. March, 1892 1:000 499,000 7 g. M. & 8. New York, Bank of N. Y. Aug 5,1910 467,000 1,000 7 g. J. & J. do do April, 1892 1,000 288,000 7 g. J. & J. do do Jan.1,1904 1,647,000 1,000 6 g. J. & J. NewYork&StateTreasury. July 1, 1906 1,068,900 100 &c. 5 J. & D. do do July 1, 1909 200,000 6 July. State Treasury. •.•. Jan., 1890 1886 t.o · ;95 1,587,922 500 &c. 6 .J. & J. . ....•...... 476,061 5 J. & J. £100&c 1886 100 &c. 12,992,400 6 J. & J. Coupons tax receivable. 1905 1,199,614 100 &c. 6 J. & J. do do 1905 295,700 100 &c. 6 J. & J. Coups. not tax r.eceivable. 524,800 6 J, & J. do do Various 12,961.530 6 .J. & J. Contmg_·ient 6,0t5,300 3 to 5 J. & J. Coupons tax receivable. 19i9 254,400 3to5 J. & J. do do 1919 lOO&c. 7,771,281 3 J. & J. Richmond, Treasury. July 1, 1932 j tunds. The sinking funds October, 1888, a.mountedto $4,076,129. The new Capitol building has cost the State tnus far $17,914,875, paid for by taxation. Valuations and State tax rate per $1,000 in 1887 and ·t or four years previous were : Personal. State tax. Real e~tate. $335,898,389 $'2-70 1887 ................... $3.025,229,788 2·62 346,611,861 1888 ..•...•..........•• 3,122,588,08t. North Carollna.-Total adjusted debt Jan. 1, 188~, was $5,110,·886. The funding law of March 4, 1879, provided for the issue of 4c •per cent bonds due in 1910 to fund old ante-war bonds at 40 per cent of 'face value; " New" railroad boncts recognized as valid at 25 per cent, -and bonds of 1866 and 1868 at 15 per cent; nothing being ¢.ven for overdue coupons. Coupons of the new bonds are receivable for taxes. The term for funding ended, but has been continued till March, 1889. ll all bonds provided for by this act were funded, the new 4 per cents would amount to $3,609,511. Under act of March 14, 1879, the old North Carolina RR. construction bonds w ere made exch1tngeable for new 6 per cent bonds due in 1 Hl9. .Interest on these bonds is met by dividends on the $3,000,000 stock of the road held by the State, the road being leased to tne .t<.ichmoa.d & ,Danville at a 6 per cent rental. In the-debt settlemeB.t the special tax bonds were ignored; also bonds 1iO Chatham RR., 1868, $1,030,000, and oo Williamston & Tarb. RR., $150,000, and the Penitentiary bonils under acts of 1868. The special tax bonds are in 3 classes, class 1, bearin~ the coupon of April 1869 and since; cla88 2 of Oct., '69; olass 3 of April, '70. Holders of the special tax bond t,have brought suit to establish the validtty of their bonds , and the case, decided in their favor in 1887 by the U. 8. Circuit Court •in Nortih Catollna, is now in the U. 8. Supreme Court on appeal. Assessed valuation of real estate is about 60 per cent or true value. 'Valuations and tax rate per $1,000 have been: Yea.re. Real estate. Personalty. Total val'ation.Tax!@$1,000 1885.... $126,955,679 $82,613,417 $209,569,096 $2·50 ·1886.... 126,883,382 75,561,351 20l,444,733 2·50 J.887.... 210,035,453 2 ·00 -(V. 44, p. 744; V. 45,p. 53; V,47, p. 594.) Pennsylvanla.-Total funded debt Jan. 1, 18o9 (including that not 'bearing mterest), waa $14,738,911; sinking fund assets $10,062,ti07. Revenue is raised principally from corporations. Taxes are levied on personal property, which was valued in 1887 at $4.01,000,000. The rate per $1,000 in 1886, 1887 and 1888 was $3. Rhode Island..-The debt was all created for war purposes. In January, 1888, the net debt, less sinking fund, was $639,496. The State valuation of real property up to 1888 was $328,530,559; ta.x rate, in 1887, $1 40 on $1,000. South Carollna.-Total funded debt (as per report) Oct. 31, 1888, was $7,04!1',727. This includes, however, as do the console in the table above, $618,161 greenconsols, some ofwhicb arepartiallyinvali,1, their .aggregate inva.liaity being i,;487,850. The valid percentage of these "tainted bonds" and all the other old issues included in the table, ex·cept thf deficif ncy bonds and stock and agricultural scrip, are funda.ble into brown consols. Invalidity is not found except in the green con.sols •(some of which, additional to those mentioned above, are entirely invahd), in the conversion bonds, and the 2d issue of the bonds "to pay in• terestou the public debt," which last is wholly invalid. The fundiug law of Dec. 23, '73, provided tor ecalln~ down the old debt 50 per cent. The console were again '' readjusted ' 1n 1879. The several acts were passed.Dec. 3, 1873, Dec. 24, 1878, Dec. ~4. 1879, and February, 1880. Yea.rs. Real estate. Personal~. Railroads. Tax rate. 1884•85 ... $87,559,538 $4.6.904,705 $15,263,366 $5·50 1'885-86... 86,114,852 42,836,288 15,521,041 5·25 -(V. 46, p. 471, 803.) .Tenneuee.-The t.otal adjusted debt Dec. 13, 1888, was $13,854,'900; total bonds fundable, $2,489,000. A funding law was passed (act of May 201 1882>, giving new bonds at 60 per cent of the principal and interest of old, tle n ew bearing 3 per cent in 1882·83, 4, · till 1886, 5 till 1888, and 8 _ per cent 1888 to 1912, and -$8,224,351 of these compromise bonds were is8ued.. The Legtsla- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rate. INTEREST. When Where Payable and by Payable Whom. -----•--- ------------1-----------1---·---- North Carolina-Fund. b'ds (coups.tax-rec'ble). 1880 Old bonds fun dab le into 4 per ceri ts.... . ..... No. Car. RR. construct. bds. fund. into new 6s. Refunding N. C. RR. bonds (taxreceiv. cps.).. . iS79 RR. bds. (Chat. and W.&T.) ..••..... not Penitentiary bonds.... . . . . • . . . .• . . . reco~1868 SJ>ecial tax bonds (in 3 classes)..... nized. . .•. Ohio-BoLds ($250,000 y'rly after 1889/... .. .•. . ... Pennsylvaniar-Reg. bonds, tax fr. (red'ble '92).r 1877 Reg. bonds, tax fr., due 1904, red. after 1894. 1879 Loan of 1882 ~$1,754.900 are 3~1!) .••••••••. r 1882 do. (in 10 ser.) ($103,000 are 3½s........ 1882 Agricultural College land scrip................ 1872 Bhoae Island-War bonds .........••..••....•. c* 1&63 War bonds ........................ . . .•...•.. . c' 1864 llouth Oarolinar-State House b'nds fundable 1853 to '61 Varioua old bonds and stock..... into brown 1866 Blue Ridge Railroad bonds...... con.sols. 1854 Consol. brown and green (see remarks) ,. ...... 1874 Refunding bonds and stock (blue)............. 1888 Agricultural College scrip, one piece ........•. J'ennusu-1''illld. bonds, actofl873 (red .atl00) iifj4 Bonds regtst.ered, act of 1873........ . . . . . . . . • . Various. Held by E. T. University (not to be funded) .. <',ompromiae bonds (act of 1882> . . . . . . . . . . . . . . iss2 New Compromise 3s (act of 1883), red. at 100 1883 New Compromise 5e & 611 (act '83), rEtl. a,t 100 1883 .f'e:ma-FundingState debt ta.ct May 2, "'1871). .. 1872 Frontier def'se, gold, act Aug.5,'70(red'ble '91) 1871 Revenue deficiency bonds, act Dec. 2, 1871.. 1872 Bonds, act Mar., 1874 (for paying fl.oat'g debt) 1874 Redemption of debt, act Aug. 6, '76........... 1876 Bond.8, act April 21, 1879...................... 1879 Bond/i, act of 1885..... . . . . . . . . . . . . . . . . . . . . . . . . 1885 Virginia-Old bonds, funding rate 69 p. c ...•.. 1851 to '66 Old bonds st-erling, fundiniz rate 69 p. c....... 1851 Consol. (act Mar. '71), funding rate 53 p. c .c 1871 do do do do r 18'i 1 do (act '72) "Pealer,'' fund. rate 69 p. c.c 1872 do do "Pealer," do r 1872 Deferred certificates (W. Va.)..... ......••.... 1871 10-40s, act March 28, '79,fllnd. rate 60 %.c&r 1879 do do sterU11g, fund. rate 60 %1879 "Riddleb'r" b'ds, 18-50s, acts '82, & '84 .. c&r 1882 l Size or Amount par outstanding. Value. ture of 1883 repealed this law and passed a new one adjusting the debt on the basis of new bond.8 at 50 per cent of the face value of old, and bearing 3 per cent interest; the old State debt proper of $2,118,000 was made an exception, and new 5 and 6 per cent bonds were issued for that at the face value. The compromise bonds of 1882, being 3, 4, 5 ·a.nd 6 per cents, are fundable into the new settlement 3d, at five-sixths of the face and interest, up to and inclusive of July, 1883, coupons-thus $1,000 compromise bondsreceive$858·33 in new 3a, and interest sinoe July, 1883, paid in ca.sh. All the settlement bonds are redeemable at option or tbe State after July 1, 1888. Assessed valuations and tax rate per $1,000 have been as follows: Real estate. Other property. Railroad prop'ty. Tax rate. 1884 .•••. $200,212,900 $26,63 l.284 $34,350,170 $3·00 18i;5 .•••. :l0l,0!}7,500 25,651,803 31,547,582 3·00 l886 ...•• 200,1 l8,265 24,790,914 31,547,582 3·00 1887 ..•.. 211,267,498 28,282,583 32,361,855 3·00 1888 ...•. 254,126,350 43,078,701 32,290,302 3-00 Texa11.-The old hi~h-rate bonds were redeemed and lower interest bonds issued. Total funded debt Au;. 31, 1889, $4,237,730, of which all but $1,220,630 1s held by school, college and asylum funds. A.sl!essed valuations and rate of tax (including school tax, $1·25 and poll taxes $1·50 in 1888) per $1,000 have been: Years. Real estate. Personalty. Total val'ation. Tu rate 1885 .••• $375,890,594 $245,121,395 $621,011,989 $lM5 1886.... 379,3H2.988 251,132,185 630,525,123 8•75 188.7.. .•• 404,897,497 245,514,904 6()0,412,401 3·75 1888.... 441,076,H25 24.0,0~7.979 681,084,904 3·75 Vlrglnla.-The old bonds two-thirds !tundable and the sterU.11g bonds carry coupons from July 1869, except the years 1872--3-4. The consols of 1871 carry coupons or Jan. 1875 and since. The 10-40s carry Jan. 1881 and since; but the consol. and · 10-40 coupons being ta.xreceivable, these bonds a.re generally sold with matured coupons off. The first funding law of March. 1871, allowed holders_ of bonds to fund two-thirds of their debt into new 6 per cent bonds, bearing coupons receivable for taxes, and rect,iving for the other one-third of their principal a" deferred certificate," to be charged w 'West Virginia. The act of 1872 repealed the tax.-receivable clause of the law, and the bonds issued under it were called "Pealers.'' The McCulloch law of March 28, 1879. authorized the 10-40 year bonds, bearing 3 per oeng for 10 years, 4 per Cffilt for 20 years and 5 per cent . for 10 years, coupons tax-receivable. In February, 1882, the Riddleberger law for re-adjusting the debt and the laws familiarly known as "Coupon killers," were passed (see V. 34, p. 88.) The Riddleberger act provided for the issue of new bonds, dated July 1, 1882, inro whicha.ll others could be funded a.t the rates specified in the table above, coupons also being fundable at certain rates. Thill. law, howfWer, was amended and all bonds .offered for 1'.unding ~re now requir~d to carry the coupon of July, 1885, no allowance bemg made for iil• terest maturing between Jan. 1, 1885, and date of surrender of. bonds, The Supreme Court of the United States has three times passed. on the Virginia laws, and while sustaining in theory the principle that the tax-receivable coupon law constituted a contract with the bondholders, the court has so far upheld the subsequent laws that the ·-00upon clause bas been practically defeated. (3ee CHRONICLE V. 48. p. 291.) A movement was begun in 1885 to procure an adjustment of the "Deferred" bonds or certificates by the Legislature of West Virginia and the holders of some $8,000,000 deposited their bonds with the Farmers' Loan & Tr. Co., and the certificates of that Co. were listed at the Stock Exchange. Of the "Riddleberger'' bonds above, the sinkin:g funds hold $2,257,577, the Boarct o.r Public Works $173,900, and the Library Fund $1,179,127, leaving $4,060,677 fu hands of public. ..ilssesaed valuations have been as follows: Years. Real Estate. Persotu.i.1:z. Total. Tu Rate 1884..•. $239,826,ooo $88,974,o o $32s,soo,04o oo 1885.... 256,916,140 84,884,270 341,800,410 ~ 00 1886. .•• 257,533,440 83,783,180 341,316,620 ...,oo 1887 ..•• 259,857,960 82,377,4a0 342,215,890 4.-00 1888 (est) 299,251,019 97,460,306 396,711,325 ~·00 -(V. 44, p. 451, 495, 527, 572, 627, 730; V. 45, p. 512, 768, 84.7; V. 48, p.29.) •f JANUARY, CITY SECURITIES. j889.) 7 Sub11crlbeH Will conf'er a great f'avor by glvtil~ Immediate notice of' any error dl■eovered ·•n theae Tabiea. Date ot Size or Amount 1 _ _ _ _ _ _ _ INT __ E_RES __T_._ _ _ _ _ _ Prinoipal-Whea DESCRIPTION. bonds. par outstanding. When Where payable and by Due. _Forexplanations see notes on first page ot tables. value. Rate. Payable whom. 1 Albany, N. Y.-Purchase Congress Hall Block .. __1_8_6_6--i---$1,000 ___$_9_7_,_00_0_ ·--·6-- F. & A. Boston, Merchants' Bank. Feb. 1, 1889 ~ City improvement 1870-'71 1,000 418,000 7 M. & 8. New York. Mar. 1, '89 to 1900 WasbingtonPa.rk.:::::::::::::::::::::::::::::: 1870-'82 1,000 1,058,000 4, 5, 6, 7 M. & N. New York and Albany. 1910-'21 New Post Office site ..•......1.................. 1874 1,000 115,000 7 M. & N. N Y., Merchants' Nat. Bk. May 1, 1904. Water debt ($40(),000 due 1900-3, are 7a).. . .. . 1874-'88 1,184,000 4, 6 & 7 F. & A. do do 1894 to 1912 1,000 Special Water Commission bonds . ............ 1887-'88 250,000 4 .•.. do do 1:000 J. & J. do do Bonds loaned to Albany & Susquehanna RR.. 1865 858,000 6 M."&N. N. Y.,DeL&Hud:canal Co. iso·~•97 1:000 Ulanta, Ga.-Bondsfor streets, floating debt... 1867-'72i 500 &c. 349,000 8 J . & J. N.Y. Han.Nat. B 'k & Atlan. J. & J., 1892 Bonda tor A. L. Railroad and State House.... 1869-'70 1,000 400,000 7 J. & J. do do J. & J., 1890 Bonds for West. RR. and floating debt .... . ... 1870 & '72 500 &o. 318,000 8 J. & J. do do Jan. 1, 1902 1,000 Bonds, lat and 2d aeries, wateuworks. . ...... . 1874 427,000 7 J. & J. do do Jan. 1, 1904. Redemption bonds . ......... . ....... . .......... 1877 500 &c. 77,500 8 J. & J. do do Jan. 1, 1897 do $:'>2,000 only due 1915 .... 1881 & '85 1,0@0 120,500 5 if. & J do do 1911-1915 1879 285,000 6 J'. & J. do do Jan., 1890 to 1896 :Monds to fund floating debt (part each year).. . Capitol bon,ds.. .. . .• . . . . . . . . . . . . .••....... .. . ••. 1884 55,000 6 J. & J. do do Jan. 1, 1914 Redemption bonds ........... . ................. 1886 & '87 1:0·00 163,000 4.lg J. & J. do do July 1, 1916 Aupusta Ga-$24 500 are 4¼a due 1916 Various lOO&c. 1,787,800 412,6 & 7 Variou& Augusta, Treasury. :J.889 to 1916 Baltim<We-Consolidated loan C:f 1890 ..•. :::: Various: 100 &o. 7,306,546 6 Q.-J. Balto., Farm. & Plan. Bank. After July 1, 1890 100 &o. Water loan, stock, red. at will after 1916 ..•. r 1877 5,000,000 5 M. & N . Balto., Nat. Mechanics' Bk. After July 1, 1916 100 &o. Funding loan, stock, tax free .. .•.......•.... r 1878 1,000,000 5 M. & N. do do After July, 1916 100 &c. Consolidated bounty loan .......... . ... . ...... r 186.3 2,211,068 6 M. & S. do do Sept. 1, 1893 100 &c. Exempt bounty loan .........................• r 1865 410,353 6 M. & 8 . do do After Sept.1,1893 100 &c. Pnblicparka (Druid Hill) . •••••• .•. ••••.•••••. r 1860 555,566 6 \-M. do do A1ter8ept. l,1890 100 &o. Par.Ir improvement loan ..•........ . ......•.. .. r 1863 185,723 6 .-J. do do Jan. 1, 1895 Patterson Park extension ......•...•..••..••. r . . •. . . 200,000 4 .-J. do do Oct. 1, 1920 lOO&o. Five million loan to Baltimore & Ohio RR ... r 1853 5,000,000 6 Q.-J. Balto., Fa.rm. & Plan. Bank. Jan. 1, 1890 New City Hall .•........•.........•...•...•.... r 1870-'74 100 &c. 1,500,000 6 ~.-J. do do 1900 and 1902 100 &o. 0 0 100 &c. 100 &c. Western Maryland Railroad .................. r 1872 1,000,000 6 J. & J. Balto., N. Mechanics' Bank. Jan. 1, 1902 Jones'Falls($957,000are5s&$455,0003·65a)r 1872-'84 100 &c. 2,212,000 3·65,5&6 Q.-F. do do · April 9, 1900 do ($100,000 are 3e) .............. . r 1885 260,000 3 & 312 Q.-F. do do A~ril 9, 1900 lOO&o. Water loan ($263,000 only are 6s) . ........... r 1874 4,900,000 4, 5 &6 J. & J. do do Aft'r 94,192:.&'28 100 Harford Run Improve,$250,000dueaf.1920.r 1880-4 496,709 4 J. & .J. do do 1904 & after 1920 100 &c. Western Ma.rylaBd RR. loan ..•. . ...•.....•••. r 1882 684,000 4 ... . do . do July 1. 1925 100 do do ......•..... .. ..... r 1887 1,70'1,000 314 J. & J. Balto., Farm. & Plan. Bank. Jan. 1, 1927 500 &o. Enaorsements for Western Maryland RR .... r 1870 875,000 6 J. & J. Balto., N.Mechanios' Bank. Jan. 1, 1900 do do UnionRailroad ..•..... . .•. r ...... 117,000 6 J. & J. Baltimore, Franklin Bank. Jan. 1, 1895 Bangor, .Me.-Ctty debt proper.................. 1872 1:000 50,000 7 Various Bost.,Mercb.N.Bk.&Bang'r Sept. 1, 1892 500 &c. Refunding bonus............................... 1885 30,000 4 M. & N. do do Nov., 1889 to, 1891 1,000 1 ,~~ifo~n ~~ 500 &c. 1,000 European & North American Railroaa........ 1869 1,000,000 6 J. & J. do do Jan. 1.., l894. 500 &o. Bangor & Piscataquis Railroad................ 1869 925.000 6 & 7 A. & o. do do April .1, 1899 Various. ath,Me.-Fund.debt($78,000are5a,'97, J.&J.) ••••.• 180,500 412 & 5 M. & S Bos.,Nat.H.&L.B'k&Port. 1897 & 1902 Various. Knox & Lincoln RR .. tor stock and coupons 137,000 6 Varioufl Bos.,Nat.B'k of Com.&Bort. 1898 . Various. Androscoggin RR. (gua.r. by Maine Cent. RR.. . is6i 425,000 6 A. & O. Boston, 2d Nat. B'k & Port. Jan. to .Oct., 1891 Knox & Lincoln Railroad ($23,750 each year) 1869 Various. f 6 J. & J. Bos., Nat. H.&L. B'k: &Port. July 1, 1881# to'99 328 •550 l do do (F.&A.and M.&8) .. 1871-'72 Various. 6 VarioUB do do 1891 & 1902RR. retunding, $100,0004¼sdue1907........ ...... 482.850 4&412 J. & J. do do 1902-1920&1,907 ,ton-City debt and Charlestown .......•••.... 1864 to '80 1:000 7,941,500 6 Various Boston_, Treasurer's Offioe. Ap'l, 1889.to 1897 City debt registered............................ 1878-'82 9,54~,ooo 4 Various ao do July, 1889-1~4 do do . . . . . . •• . . . . . . . . . . . . . . . . . • . . . 1879 450,000 4¼g. A. & O. do do Oot. 1, 1$8 do $550,000 due Oct., 1906 ....... .. . .•. 1885-'86 1,591,000 3¼ Various do do 1896 to l~l do $80,000 due Jan. 1, 1896 . .... ..•.•. 1885 109,000 3¼ .••. do do 1895 to 19J6 ··-· do $3ll,OOOdueJuly 1, 1905........... 1885 947,000 3 Various do do 1895tot906 do $145 .000 due Ollt. 1, 1897 . •.•. .•••• Various. 230,000 5 Various do do 1889-1,900 Suffolk Co. Court H'ae b'ds sk.fd, not d'n ... c&r 1888 1:000 700,000 4 A. & O. do do Oot, 1, 1918 do do 1 --. 87 800,000 3¼ A. & o. do do April 1, 1937 .... .... do do 150th payable yearly 1885 816,000 3 A. & O. do do 1935 West Roxbury, $25,000 payable yearly....... .... 75,000 7 VarioUR do do June, 1889 t.ol891 .noo&c 4,997,604 Burnt district, sterling loan.................... 1873 5 g. A.. & O. London, Ba.ring Brothers. April. li93 Consolidated streetimprovem't, sterling loan. 1869 2,751,426 5 g. J. & J. do do July 1, 1899 £100&e 1,000 Park bonds, $455,000 4s, clue 1918........ ... 1887-'88 1,355,000 312 & 4 J. & J. Boston, Treasurer's Office. 1917 & 1937 do do sink. fund, $769,000, due 1899.r 1889 1,000 1,219,000 4 J. & J. do do Jan.1,189{l&l919 Mystic water debt, assumed, part renewed ... 1862 to '86 1,000 839,000 314 to 6 Various do do July, 1890 to 1916 Coch. Water loan, 6 per cent .....•............. 1867 to '7H .... 4,897,000 6 VarioUF do do 1897 to 1908 do do 5 per cent •................. 1875 & '78 .... 13,000 5 Various do do 1907-1908 do do 4 per cent ................... 1878 588,000 4 A.. & o. do do Avril 1, 1908 do do Sterling..................... 1872 £100&e 1,947,274 5 g. A.. & o. London, Baring Brothers. Oct., 1902 do do 5a, g......................... 1875-'7G 3,552,000 5 g. .••. Boaton1 fieaaurer's Office. 1905-1907 .... do do 41211er cent....... ...... .... 1879 268,000 419g. A.. & O. ao do Oct. 1, 1909 .... do do 4a $280,000 due April,1910 1879-'80 686,000 4 g. A. & O. do do 1909-1912 .... do do 4s$336,000dueOct.1,1913 1883to'87 2,015,000 4 Various do do 1913-1917 do do 4s ........................... r 1888 100,000 .. A.. & o. do do Oct. 1, 19.1 8 1:000 do do 319 per cent................. '84·5•7•8 675,000 312 Various do do 1914- 1918 . do do 3 p er cent.... . ... . ... .. ..•. 1887 194,000 3 A. & O. do do April, UJ17 1000·&0 Stony Brook improve't, secured byakg. fd .. . r 1887 500,000 4 A. & 0. do do Oct. 1, 1917 OOIC£yn,-Brooklyn local improvement loan... 1861 1,000 213,000 7 M. & N. Brooklyn.) ~.i.i"'>t,.,.; Nov., 1891 Soldiers' aid fund loan, part eaoli year....... . 1865 1,000 296,000 7 J. & J. do j ·~ <D Jan. 1, lts90 to'9i Bushwick avenue,&c.improvement loan,local 1865- '66 1,000 35,000 7 J. & J. do > ·-1>,~ ~ July 1, 1889 &'90 BoutbSeventhst. do do do ..•... 186~ 1,000 35,000 7 J. & J. do ,zi'r.ri,9.c ~ July 1, 1889 & '90 Fourth avenue do do do ... . 1868& '69 1,000 126,000 6&7 J. & J. do l=l<~:!-1.;t 1I Julyl,1889to'95 New York B'dge loan,$100.000 or aoy'rl_v ,e&r 1870 1,000 3,000,000 7 J. & .J do J uz~.Si- l July, 1899-1924 - A.lbany.-Total debt Jan. 1, 18b8, was $3,t>29,000, of which $1,434,• j estate, $6,693,650; personal, $2,831,765. Muntoipal nroperty, in· 000 w as wa ter debt; sinking fund assets {City bonds, etc.), $560,139; eluding water works, $810,000. In 1887, real estate, $6,771,048; pernet de !Jt, $1,5J4,861. The foa.n to Alb. & Susquehanna. is se cured by , sonal, $2,858,872: tax rate per $1,000, $22 50. Populatluh. ... t..,.::i.>!. lll flrstmort. ThevaluationofAlbanyCityin'€6was: Realestate,$60,728,· I b SO, 18,829in 1870. 720; personal, $6,154,270; tax rate per $1,000, $18 40. In 1887 real Boston.-The population of Boston in 1880 was 362,839; in 1870, estate valuation was $61,245,455; personal, $6.326,900; tax rate- 250,526. against 177,840 in 1860. The gross debt on Apr. 30,1888, lat rate, $17 6 0; 2d rate, $7 tiO. Pop'n, 90,758 in 1880; 69,422 in 1870. was $48,987,803 (includini ctty debt proper, $30,793,529; county debt, $1,616,000; Coohituai;e water debt, $14,741,274 ; Charlestown, A.tlanta.-The total bonded debt ,Ta-1: . 1 1888, was $2,220.000. As. West Roxbury, etc., debt, $1,843,000), and the total sinking funds, sesaed value of real est ate in 18~E. $21,023,370; personal, $7,889,269; etc., applicable to it, $21,287,255, leaving the net debt $27,700,548. tax rate per $1 .000, $15. In 1887 1·aal e:;tate, $ 24,933.064; personal, The law of April 17, '85, limited the taxation in Boston for city plll'$7,304,703; tax r ate, $15 Assessed value between 50 and 75 p.c. of real. poses to $9 on the average valuation ol five years preceding, to whloh Population, 37,409 m 1880; 21,789 in 1870;~about 67,000~Jan. 1, 1888. is added the tax for city debt and for State purposes. After Jan. l,r A.ugusta.-Sinkin!l' funds, Jan. 1, 1888, '1\70,000. Taxable valuation 1887, the net debt was not to be over 2 per cent of average aaseaaea. in 1888: Real estate, $15,241,450; personal. $!,933,806; tax rate, $15 valuation for five years. After deducting from above total of gross per $1,000. In 1885: Real estate, $11,468,310; personal, $5,088,480; debt t,be sum of $18,485,274 tor various items (water debt, etc.), no• tax r~te, $16 ~5 per $1,000. Population in 1870, by U. s. Census, 15,· covered by this law, and also the sinking funds applicable to ,he debt so 389; m 1880, 21,891. reduced, the debt remaining is $14,315,114, which exceeds the allowed Baltlm.ore.-The Balt. & Ohio RR pays interest on $5,000,000. limit by $433,546, the said average valuation being $694,078,430. ArtWater loan is paid by income or water work:a, and Public P a rk by City aesaed valuation on May 1 for four vears has beell: Passenger Rail way, and against a total debt ol $36,369,176 the city is Re.a.J. Personal Tax Net Debt. chargeable with interoat on only $18,598,392, and holds productive Years. Estate. Estate. Rate. Dec. 31. assets, including the sinking funds, equivalent to $10,890,665, leaving 1884 ..••.••• $488,130,600 $194,526,05'3 $17 00 $24,766,064. on Dec. 31, 1887, only $7,707,727 debt over interest-bearing assets. 1886 .••..••. 517,495,200 193,086,500 12 ?O 26,354,391 The " pro Luctive aecurlties" here include $3,25,>,000 common Heck or 1887 ..•...•. 547.170,300 200,454,600 13 40 27,627,589 B. & O. RR. There are also held $5,610.500 of unproductive securities. 1888 . .... ... 563,013,300 201,435,100 13 40 26,850,902 Population in 1870, 267,354; in 1880, 332,313; in 1888 {police census, -jj.,:!k.ly~:'::!The whole city debt was a.a follows Jan. 1, 18~9 and '88: Including the Belt, 416,805. Assessed valuation, near Lhe full cash Jan. 1 , 1889• Jan. 1 , l888. value, and tax rate have been: Total Rate of Tax .t"ermanent det,t .•••••••.••••••.••••..••• $25,800,703 $25,807,54$ Years. E!t~i. ::;;~:;:. Valuation. per $l,OOO. Water loan............................... 11,682,500 11,073,500 $ Debt payable from assessments . ••• . ••• 419,000 483,000 1883 . . . •• $lS 9 , 91 :d, 494 5 8,889,738 $248,803,232 17 8712 Tax certificates...................... • • •• 2,500,000 2,500~000 1886 ..... 200,775,614 64,784,338 265,559,953 17 8712 ------1887.. •.. 201,339,615 66,500,286 267,839,901 Gross debt........................... $40,402,203 $39,86~043 Bangor, 1'.le.-The loans to Eu. & No. Am. R.R. to Bangor& Pia. R. Less sinking fund........................ 8,828,782 7,849,54.1 R. are secured by first mortgages on those roads, and interest full.v paid -----~ from the earnings. The valuations (near full value) it. 11~86 were: Real Net debt............ • ••• . • •• . ••• •. ••• t $32,014,502 rn~: ½ig:888 ! ~~i ?oaii::::::::::::::::::.:::·.::::::::::~ ½i~~ ~gg;ggg t rn~~ ~88:ggg : i: t i: ~bli~~a!!L:::::::::::::::::::::::::::::::: --· :r g~::ds:·coup:·cioi°Fe)>:22;·is75j: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~-~..r.· ::}~:: ;~~:Oli~ .if~: !ft:f~ f: 1:1 :f~i1~· H8t :~ } .... .... .... ·--· --- I '8.~ ~o r $~,,~ ~; ,, . :~· -·. ·~,,..,, -i,'· , ~~ _:,!f]( _ ,,/ [Vo•. XLVIII 8ub9crlben will coorer a creat Cavor by &ivln~ lmmedlate notice oC any error dlaeovered 1n these Tables. DESCRIPTION. :ror explanations see notes on first page of tables Date of Bond.8. Size or Amount par outstanding. Value. Rate. INTEREST. When Where Payable and by PayablE< Whom. ------------------·•-----,---- ,------ ---- ---·1-----------1------- j ,Brooktvn,-(Oont'd)-B'deforN.Y.&B.Br'e,c.orr 1870-'76 1,000 1,250,000 7 J. & J. Brooklyn, 1 ( 1905, '6, '7 & '8 Bonde lor N. Y. & Br. Bridge..••.•.... . ....••. 1876 to'80 $1,000 $3,333,000 6 J. & J. do I co,bl-c i-. 1908 to 1919 do do •••.••.••...•... .. 1879 to '82 1,000 2,279,000 5 J. & J. do of~ 1917' 18'19 '23 '25 do do •••....•..•••..... 1881 to'83 1,000 2,383,237 4 J. & J. do f_sO 1921 '2'3'5'6'7'8 ProspeotParkloan, reg.& coup..••..••......•. 1860 to'73 1,000 8,019,000 7 J. & J. do 1915, '6, '7, 'P, '24 Prospect Park loan........ . .. . . . • . . . ••• ••. ..•. 1864 1,000 1,217,000 6 J. & J . do -c .ld Q;) ,.. July 1, 1924 Permanentwaterloa.n ....... . ...•...•..•••.••. 1857to'75 1,000 11,573,500 3,4,5, 6J. & J . do "osA~~,i, 189ltol916 Temporarytax certificates ....... . ....... .. .. . Various. •••• 2,500,000 3 J. & J . do 3yearefromdate. Certs. of indebt. ($70,000 4s due 1889 & '90) . 1884 •••• 734,305 319 & 4 J. & J. do rii ~ ~ 18119 to 1905 Bonds to pay arrears to county............ . .. 18~4 •••• 549 ,000 4 J. & J . do s:i';l (jJ July 1, 1924 Arre&r'obds.($1 ,6 f 0,00010-40s 4s, J'y, ' 23).r 1884 •••• 2,350,000 319 &4 J. & J . do ~~.S~ July, 1923 & 192i 5 Looa.l improvemen t s . •• . ... -........ . ..... . .... 1883 •••. 200,000 4 J. & J. do Io July 1. 1893 Bohoolimpr'm't,$100,000dueJan.eaohy'r.r 1889 . ... 400.000 3 J. & J . dO J Jan.21,1917to'20 Bwffalo, li. Y.-Funded debt bonds .......... c&r 1870 to '86 1,000&c 5,424,536 3 to 7 Variou~ Bu1falo and New Yor.r:. 1889 to 1926 Water works bonds ....... . ................ c&r 1870 to ' 86 1,000&c 2,778,382 319 to 7 Various do do Oct., 1889 to 1909 Tax loan bonds ... . .........•..•...•...•..•.. c&r 1880 to ' 86 1,000&c 4 4 9 ,-, 53 3 & 419 J. & J. do do June ~.'89 to 1900 Oambndget Mass.-City bonds ............... o&r 1864 1,000 100,000 5 A.. & 0. Boston, Bank Redemption. April 1, 1889 City bonas ............ . .......... . ........ .. c&r 1863 1,000 150,000 5 g. J . & J. do do Jan. 1, 1893 do ••• . .•.. . .•..• • .... •......• •. . . .• . c&r 1870 to '76 500 &c. 347,000 6 Various do do r890 to '96 do .................................. c&r 1873-' 74 500 &o. 689,000 6 J. & J . do do July, 1903-4-5 do . ....... . .......................... c&r 1885- '88 .. .. 4 15.01.J O 4 Various do do '95,'u5,'07,'17,'18 do ........................... . ...... ... r 1886 Various 25,000 319 .. do do Nov. 1. 1896 Waterloan ............ . .................... . c&r 1868 to '77 500 &c. 988,000 6 various do do May, 1889 to '97 do (only $12,500 a.re 5s) .......... c&r 18'18-'87 1,000 44t:,500 4: & 5 .... do d@ 1894-'98·1910 do 1886 ..•• 218,000 319 ..•. do do 1906 and 1911 flh,ariuton,d8 .0.-Gon.bdds. ,t-0 red.past-ddue debt. •••• 494,400 7 A.. & O. Charleston, Treasury 1889 to 18!?7 . ..... . 18 8 0 0 0 109,500 6 A. & O. do Apr. & Oot., 1898 do coup. or reg............... 1879 lOO&o. 3,392,117 4 J. & J . do Jan.&Julyl,1909 OMlsea, Mass.-Sf.nking fund bonds........ ..... •••• .... 404,800 6 Various 1889 to 1908 Funded debt ($350,000 for water).... . .•. . .. . •••• 1,000 1,092,000 6 Various Boston, N. Bk. Redemption Aug. 1, 1891 to '95 do notes.............. . .............. . •••• .... 160,000 4, 419,512 Various Sept. I, 1889·1890 OA.ieago-Waterloan.... ....... . ................. .... 500,&c. 132,000 6 J. & J. N. Y., Am. Ex. Nat. Bank. July,'97&Ja.n.,'98 . ••. Water loan.............................. . ....... 1,000 3,340,000 7 J. & J. do do JuJy 1, '89 to '95 Water loan (refunding) ..•.•...•.....•...•..•. . 18 82 100, &c. 333,000 3·65 J. & J. do do July 1, 1902 do do J.,888 150,000 4 J . & J. do do July 1, 1908 Bew'gebds $490 OOOJ•y·•o~F$785· oocij;y·•94 500&0. 1,288,000 7 J. & J . do do July,'l12, '9l & '95 do :•................... .'.•... . : ... . .... ~. . lSRO .••• 489,500 419 J. & J. do do July 1, 1900 do $458,000 J'y, '04; $387,000 J'y, '08 1884 & ' 88 815,000 4 J. & J. do do July 1, 1904 & ~os River improvement bonds, part each year... 1:000 2,608,000 7 J. & J . do do J'y, '90, '2, '3, '4,'5 Mun'lbds.,$100,000J'y,'95;$86,000J'J ,'9tif&g 1,000 186,000 6 J. & J. do do July 1895 & '96 Municipal and School bonds.. . ............... . .... 500 &c. 1,858,000 7 J. & J. do do July i, 1890 to '99 llutticipal bonds (refunding loan) ............. 1881- 7 & 8 .. .. 1,333,000 4 J. Jr. J. do do Aprill, 1901, '7/8 OookC'y d't,$250,000,'89; $1,483,000May,'92 ..•. 500 &o. 2,175,000 7 M. & N. New York & Chicago. May, 1889, '90,'~2 do •... ••••. .... ........... .....•. ..•.. ... .... •.•• 7fl0,000 5 ,J. & J. Chicago. Jan. 1, 1899 do .. . ................... . ............... . . .... .... • 1,158,500 4¼ M . & N. do Mar 1, 1900 do ...................... .. ......... . ...... .••. ..•. 500,000 4 M. & N. do May 1, 1905 do .•.•••...... . due$50,000 eaohJea.r.. .... ...• 1,000,000 4 M. & 8. do Mar. l,'89to'08 Oincinnati- Bonds for Water Works .....•••. C3 1869 1,000 150,000 7 3-10 J. & D. N.Y.• Am. Exch. Nat. Bank. June 15, 1889 Bonds for Common School purposes ......... P 1863 1,000 98,000 6 J. & J . N. Y., Bank of America. Jan. 1, 1890 BondstoO.&M.RR.topurchasewhf.prop .. N 1855 1,000 194,000 6 M.&N.N.Y.,Am.Exch.Nat.Bank. Nov.1,1890 Bonds for ext. an<1 impr. Water W .. C, D. & E 1847 to '50 500 &c. 397,000 6 A. & O. N. Y. Bk. or America. April, 1895 Bonds for funding floatinK debt ........ A&A2 1847 to '48 500 &c. 171,500 6 M. & N. do do May 1, 1897 :NewHosp'l bds. $250.000 M.&N.,due'98 .8&82 1867·'68 1,000 750,000 7 3-10 J. & D. N.Y., Am. Exch. Nat. Bank. June'97& No.-.,•98 Bonds for funding floating debt .............. L 1853 1,000 60,000 6 J. & J. do do Jan. 1, 1900 Extension and improve. WaterWorks ... K &F 1851-'53 1,000 175,000 6 Various N. Y . Bk. or America. June & Oct., 1900 BondstopurchaseOrp'nAsyl.grds.forpark.O 1858 1,000 100,000 6 M.17&8 Cincinnati, City Auditor. Mar., 17, 1908 Bondsforsewerage........................... P. 1869 1,000 150,000 7 3-10 M.15&8 N. Y .1,, Am. Ex~h. Nat. Bk. Sept. 15, 1899 Bonds for improving Gilbert a.venue ......•. U 1869 1,000 150,000 7 3-10 M. & 8. ao do Sept. 15, 1899 Bonds to build Eggleston avenue sewer .... B3 1869 1,000 100.000 7 3-10 A.. & 0. do do Oct. 1 1 1899 BondsforWaterWork purposes .......•.•. C5 1872 1,000 300,000 7 F . & A. do do Aug. I, 1897 General improvement .... . ................. W2 1871 1,000 600,000 7 J. & D. do do Dec. 1, 1891 · Cincinnati Southern RR....................... 1872 1,000 8,190,000 7 3-10 J. & J. do do July 1, 1002 do do ($2,890,000 are gold 6s) 1876 500 &o. 4,825,000 6g. & 7•3 -M. & N. do do May 1, 1906 do do .......................... 1878 & '79 1,000 2,260,500 6 & 7 Various do do 190~-1908·1909 Funding debt bonds. coupon.................. 1874 1,000 995,000 7 Ml5&N Cinclmiati, City Treasury. May 15, 19G4 Park improvement (Q. $l!S,000 6s). ...... ..... 1875 1,000 65,000 6 & 7 J. & J. N. Y., Am Exch. Nat. B'.k. Jan. 1, 1890 Water•works b'de.,$lUO,OOOdueAug.,1895 . Dl 1875 1,000 200,000 7 Au~.,'90 &'96 1F. & A. Cincinnati, City Treasury. Bonds tor McLean Ave. sewer($35,000 51!)U2 1879 1,000 175,000 5 & 6 .M. & N. N.Y .. Am.Exch. Nat.Barur. Ma.y 1889-1909 Hospital bonds ....•...••.••...••..••..••... 83 1876 1,000 50,000 7 M. & N. Cincinnati, City Treaaurv. May 1, 1906 University .................................. H2 1872 1,000 76,000 7 F. & A. N.Y., Am. Exch. Nat. Bank. Aug. 1, 1897 Street bonds, 13 aeries, part of each each year 1888 Various 469,66~~ 5 Semi· an Cincin., Office City Trtia.a'r. 1889 to l 899 Consol. s. f. bonds, 30-50 yrs. (Act A.pl. 9, '80, 1880 & '81 1.000 2,137,000 4 & 5 Various N. Y., Am. Exch. Nat. Bk. 1930 & 1931 A.ueeement bonds ..........•.......... U3 & D4 1879 & '80 100 &c. 64,706 4 & 5 Various do do J'yl,'89 & May'90 Work House and Inflrma.ry ($19,000 M, & N.) 1881 & '82 100 79,000 4 J. & J. Cincinnati. May, '91 & J'y,'92 Deficiency loan (redeemable after 1891) . . . . . 1881 100 &o. 499,500 4 J. & D. N. Y., Am. Exch. Nat. Bk. June l, 1901 Deficiency and pavement bonds (10-20 yr.) .. 1885·'86. Various 2,473,000 4 Various do :lo May &June, 1905 City Hall bonds. red~ema.ole aftt,r 1897... .. . 1887·'88 1,000 375,000 4 J. & D. do do June 1, 1907 ftktiela~Water works ($200,000 a.re 6 p. ct.). 1872 to '84 1,000 1,775,000 3·65 to 7 Various N. Y., Am. Exch. Nat. Bk. 1892 & 1903 Funded debt . ................................... 1872 to '84 1,000 1,97fl ,000 4, 5, 6, 7 Various do do May 1, 1889 to '97 LakeView,Wa.deandMonumentalparks .••. 1872to'87 1,000 87,000 6&7. Various do do Deo.,1889to'92 Canal and canallock ($11,000 are 6s) ........ . 1874 to '87 1,000 275,000 6 & 7 Various do do 1894 to '98 General bonds, various purposes.............. 1885·86 1,000 185,000 4 & 419 Various do do June, 1890-1895 Viaduct 1mostly F. & A., A. & 0. and J. & D.) 1873 to '78 2,138,000 5, 6 & 7 Various do do 1895-1907 Elevated Rf•adwa.y ......•....•.•.•..••...•...•. 1886 & '87 1:000 660,000 4 &5 Various do do 1902-3 8 9 96 7 1~;~.~;:7 1:000 4~4~. 5 ;:~~: ~~ ser~·9J-~ 9 o~ Iz 1e~~S' ~:i::1~~ ~= = l I ~~~n::dPeari'sfreet·Brlcigee::::::::::: ~~i:A88 Por,ulation m 1870, 396,099. against 566,663 in 1880. Valuation of i,ropt:rty &.lld tax rate per $1,000 have been: Years. Real. Personal. Av. Rate. 1885 .....••................. $336,221,357 $22,049 ,310 $26·50 1886....... . ... ..... ..... ... 339,922,812 14,217,276 26·563 1887 ................ ····· ... 362,166,083 21,68fi,59 l 27·595 1888........................ 385,904,998 22.597,240 •••••• The del,t of Kin~s County, separate from the debt ot' lsrooklyn, Aug. 1, 1888, was $4,539,500, of WhitJh the city is r esponsible for 1Urnths. (V. 48, p. 99 .) Buflalo.-Total 1unded debt, Feb., 1888, $8,689,942; deduct water debt, $2,'; 78,382; sinking fund assets, $208 ,273; ~ et d ebt, $5,703,287. VaJuations and tax per $1,000 have been: Years. R eal est at e. Personalty. Tax Rate. 1885 ........... . ....... . ... . ... $ 99.Ul2,470 $8,4n l,675 $17 2 1 1886 . ......................... . 11 3,9fi 3,945 ~,405 ,2i5 17 27 1887 ........... . ....... . ..... . . 119,876,145 8,7 55,1 50 14 7 8 BuJlalo also pays 77·100 of Ene count y d ebt. The inter est on ditfer ent bonds is 312. 4, 412, 5, 6 :rnd 7 . Po1ml ation, 230,284 in 1887 (police eensUE); 154 ,7 €6 tn 1880; 117,714 in 18 70. ('ambl'l_d tl e, MaH.-Tll e tot a l cit y tunded deb t, D ec. 1 , 188 8, w as ,1,891-,< 00; w ater debt. $1,723,t Ou; ain kin i;i: fu n d, H 99 .968; net wat er debt, *969.558. The inv estm ents are n early all in cit y oonds at par, and staruped "not neg otia ble." Valuation, 1 888.rea.l estate $48 ,l BO,· 700; l)ersonal, $14,219 ,640; total, $62,400,340; tax rat e, $15 00 per $1,000. Valuation in '86, $44,~55,200 r eal estate and $14, t ~0.470 p er • aonal; total, $fl9,445,670: tax rate, $15 00 p er $1,000, including Sta te, acbool, He., 1axes. Population, 62,669 in '80; 39,634 in '70. Cbarle8ton, s. o.-Total debt Jan. 1, 1888, $4,021,018, a gainst '6,241.710 in 1870. '.lheie are also $23,000 5 per cents. Con• version bonds of 1878 and 1879 are issued ln exchange for city stock. Valuations and tax rate per $1,000 have been: Years. Real Estate. Personal Prop. Tax Rate. 1885 ..•.•........ .......... $16,753,760 $8,138,153 $20 00 18~6 ······················ 16.93~,5ti 5 7,80~.212 17 50 1887 ················ ..... .. 14,221,290 7,290,912 20 00 -Population. 49,984 in 1880; 48.956 in 1870. C:,heJaea, IUau.-'fota.l funded debt Jan. 1, 1888, $1,661,800; de' - ' water dej>t, $360,000; 8inkillg fund aesetl, $406,137; net debt, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis a~ .,905,663. Valuation in 1888, real estate, $17,428,900; personal $2,358.190; tax r ate, 17·60. Valuation in 1886, real estate, $16,530,· 850, and personal, $2,275,812; total, $18,806,662; tax rate, $17 80. Population , 21.7!:l2 in 1880; 18.547 in 1870; 24.347 in 1884. Chlcago.-The city debt is limited to 5 per cent or the Illinois State valuation. Total funded debt January 1, 1888, was $12,588, 500, bu, $3,955,000 of this was on account of the Water Works, which yield an income murh above the interest charge on the debt , Sinking fund in 1887 was $341,037. Valuations (about one•third true value) as follows: Years. Real Estate. Personal & RR. Tax per $1 000 1884. . ••..••.••••.••.....•. $l05,606.743 $31.720. ~;,7 $35 1886. .. .. ... ..... ... . . .. .. 12~,980.123 35,516,009 33 87 1887..... . . . . .•. . . .. .. . . . . 123.679,654 38,035.080 34 76 Population in 1870 was 298,977, and in 1880, 503,185. The South Park, West Uhica~o r ark and Lincoln P ark loans are not d ebts of the city. Clnclnnatl.-Total funde a d ebt Dec. 31, 1887, $25,829,207; in a /Jflit ion there ar e $761, '2 03 S treet improve. bonds h eld as sinking fund for ab uve. Of the outst anding d ebt $18,577,000 is for Cin. South. R ailw ay (pa.ys city ~9 CO,OOO tut rno1, then $1.25 0,000), and $1,5 25,• o uo for water wo rks (self•aupportin g) ; balance, $ 5, 7 '1.7 ,207., In 1870 the p opulation w a s 216,239, a gainst 255 ,139 in 1880. ·rhe following table from t he books of the Auditor of Hamilton County, Ohio, exhibits the assessed v alua tion of the city of Cincinnati for three yea rs named: Real P ersonal Total T ax per Years. Est ate . E state Valu ation. $1,000 18~0 ..•...... $129,9 fi 6 ,9 80 $37,578,376 $167,535,354 $31 00 1886 .......... 129,378,370 42,571,661 171,950,0 31 25 44 1887 ..•. .. •.•. 130,730,870 43,806,977 174,5;:s7,847 27 68 The city owns th11 stock of Cin. s. RR., leased as per terms, V.33, p. 28L Sf>e also V. 46, p. 319. Cleveland.-The sewer, street tm.provem'ts and street opening bonda a.re for special local improvements, and redeemed bv assessments on the property benefitted. Pop.,160, 146 in 1880; 92,829 in 1870. Assessed valu ati11n. tax rat-t-, if'bt,andpar value ofsinkio~ fundR on Dec.3l have been: Years. Tax~ 1,000. General Debt. Special JJebt, Sinking Fund& U,85 ··••·• $14·35 $6,917,000 $708,000 $1,727,905 1886 •••••• 1:-ns 8,015,ooo 695,900 1,738,72' 1887 .••••• 16·30 7,614,500 611,100 l,8Q2,29' 48 -fV, 45, p. 7-iS,) • CITY SECURITIES. J .AmTARY, 1889.] Sn'bllerlben will conCer a grea& favor by giving lnunedlate notice ot any error DESCRIPTION. For axplanations see notes on first pa.ge of tables. Da.te of bonds. Size or Amount pa.r outetandiD.g. value. dl■ covered In these Tah-'e•• _ _ _,--_ _IN_TE_R_E_S_T_._ _ _ _ _ _ Prtnclpal-Wben 1 Where payable and by When due, whom. Ra.te. payable - ----,--- -----·'---- ---· -----------1-------- Du Morlnu, Iou,a-2d renewedjudg. bd.s. 5-208 1885 FnndiB.e: bonds, extended in 1888............. 1878 Warrant fonding bonds rlra.wn at pa.r....... .. 1886 J)etroU,Mic/1..-For Wa.ter W.Co., on 01ty'scredit 1855 to'8l Pnblic Building stock (City Ha.ll) bonds....... 1869-'70-l Public sewer bonds ($35,000 arf'l 68 due 1897) 1872 to '77 Pnbllo sewer bonds ($100,000 319s, due 190b) 1886 & '88 Bonde for purchase Belle Isle . . . • . . • . . . . . . . . . . 1879 Public Improvement ................... ....... 1888 Public Improvement, ($30,000,due 1911) .... 1886 & '87 Market, &c., bonds ............................ 1880·'81·2 lllv,abeth,, N. J.-AdJustment bonds and scrip . . 1882 Brie (Pem,.)-Wate1· bonct.s ..................... \868 to'73 llnpro, ement honds ........................... l869 to '7:i Consolidated bonds, $35,000 are 6s, 1898 .... 1874 to '78 Berllllding bonds...................... . .. . .. .. 1887 11-,a,u,oille, lndiana.-Series .A, fund. debt loa.n. 1887 Series B, do do 1887 Serles C, d@ do 18~7 New Wat.er Works loan............ • .. . .. ...... 1887 ,UU Bi-oer, Ma.s.-City not.es.................... .... Ciiy bonds .................................... c~ .... de (i499,000 are gold) .............. o* .. • • do ($50,000 a.re 5s) .................. c• • • •• do do .................................... o• .................................... c• do (sewer) ............................c* Water loan...................................... do ...................................... .... .... .. .. .... ..•. $1,000 1,000 ..•. 500,&o .... 1,000 1,000&o 1:000 ... . 500 &o. 1,000 100 &c. 100 &c. 500 &o. 1,000 1,000 1,000 1,000 Large. 1000&0. 1,000 1,000 .. •• .. .. 1,000 1,000 1,000 do ...................................... .... 1,000 do .... .. .. ,,iehburg, Mass.-city bonas....... ............. 1873 1,000 M:n:nicipal bonds ($2,000 or$ ' ,500 due y'ly).. 1887 2,000&c Wat.er loan ($300,000 due July 1, 1~91) ..... 1871 & '75 1,000 do $50,000 4 per cents are 10-'20s .. r 1883-6 1,000 9a1..,.,011, T~.-Limited rl.Pbt bds. (sk'g fd. 2 %) 1877-8-9 100 &c. do do sjnking fund.............. 1880-88· 100 &o. W.W. 8. I. & C.H. bonds .. -................... . Hartford, Oonn.-Waterbonds ................... 1865..:'81 1:000 City bonds (H.P. & F. RR.).................... 1876 1,000 Funded debt.................................... 1 1868 1,000 Oapitol bonds.............. .................... 1872 1,000 Hartford town debts torallroads.10-25....... 1879·'80 1,000 do do war...................... 1863 1,000 do fl.oatin,g debt...... .. . . • . . . .. .. . . ... 1.000 IIoboken,N.J.-Ronds ($54,000due Feb.1,1905) 1865-'76 500 &c. Bonrls .......................................... 1872 & '77 500 &o. Bonds........................................... 1878 1,000 do ($75,000 dne Feb. l, 1899). ...••...••.. Various. 500 &c. do ($196,000 due .Nov. 15, 1901). .... .. .. . 1880-'83 1,000 School House bonds............................ 1887 10,000 Holyoke, .Mass.-City notes .................... o~ 1871-'74 City bonds, sinking fund ..................... c* 1874 1:000 Water loan do ...................... o* 1872 1,000 Railroad loan do ($60,000 are J.&J.)c* 1873 l,000 City bonds................................ .. . .. . 1888 1,000 bldiatu.1potu--Bonds to railroads ...........•• o* 1869 to '70 500 Bonds"tio Un. RR. Tr. Stock Ya.rd (mort.) ... c• 1877 1,000 Loan bonds, series A ......................... o" 1873 1,000 do do B ......................... c* 1874 1,000 do do C ....................... . . o* 1874 1,000 do do D ......................... o* 1875 1,000 Pnrchase-money bonds-Southern Park....... 1874 500 ltnetl OUy--Wat.er loan bonds, mostly coupon 1852 to '77 1,000 Wat.er loan bonds, mostly ooupon ............. 1869 to '73 1,000 Wa~rloan................ ..................... . .. . City government ........................... c&r 1872 1:000 Improvement bonds, &o ........................ 1871 to '74 500&o. lfor~ street dook ........................ <'&r 1870 1,000 Funded debt bonds............................. 1872 1,000 OldJ,C.b'ds ($206,000, Nov. l,'89,M.&N.) .. o&r 1864-'65 1,000 Hudson City bonds ($50,00u due July 1, '89)r 1869-'70 VarioW! BergenSoh'l loa.n b'de ($50,000 dueJ'y l,'98).r 1868-'70 1,000&o Bergen 11treet improvement bonds .•••....••. r 1869 1,000&o do bounty loan ........................ c&r 1865 Various Aseese'tfund.b'ds ($300,000, 1906, J.&J.).o&r 1875-'76 Temporary loans .............................. . Bon no fund floating debt. &c ............ c&r 1879 1:000 B'ds for mat'gb'ds,&c.($150,000, 5s,A&O)o&r 1880-'l Ci'1" of Jersey City loan........................ 1884 $228,000 160.000 2L0.OO0 1,1.37,000 217.000 291,500 250,000 100,000 100,000 370,000 21,000 3,250,000 275,000 62,000 527,700 256,000 675,000 .il>0,000 720,000 400,000 :0:80,000 45,000 600,000 450,000 100,000 261,860 125,000 500,000 450,000 550,000 200,000 400,000 2.!,500 400,000 10-l,:'>00 123,000 1,249,400 500,000 857,000 500,000 300,000 1,000,000 1,250,000 60,000 203,000 130,0(,0 151,500 337,000 22~,252 261,000 45,000 163,000 271,000 250,000 226,500 125,000 45,000 500,000 300,000 300,000 300,000 200,000 109,500 98.l,000 3,329,000 5~5,000 549,000 6,809,'-00 125,000 500.000 558,000 100,000 150,000 400,000 41,000 900,000 93 , ,000 1,353,000 600,000 1,000,000 .De• Moines, Ia.-Assessed value of property $11,500,000, which ts about 20 per cent of true value. Population in L870, 12,035 ; in 1880, 22,400; in 1887 (estLnated), a.oout 45,000. Sinking lundJa.n. l, 1888, amount.e<l to $18,450. 'rherd is ~ levy for sinking fund ea.oh year, a.nd in 18d7 ,t;l70,000 bonds were I edeemed. DetroU, Mlch.-Total funded debt .July 1, 1888, was $2,531,500: deduot :tor wat.er works, $1,137,000; as~ts of smking fund, $725,877; net debt. $668,6i2. There a.re $10,000 House of Correction bonds• due 1893. The population in 1870 was 79,577; in '80, 116,340'. In 1883, 130,000. The value of water works is a.bout $3,500,uO The water works bonds are issued on a. pledge or the city credit, and $75,000 per year collected in taxes to pay inoorest on thtim. Pooula-tion 1u 1886 about 176,000. Valua.tions (based on true value) and w.x rate have been: Years. Real Estate. PersonaL Total. Tax Rate. 1880 •••••. $64,556,085 $19,807,705 $84.,363,790 $11·83 18134 ...... 82,793,115 27,928,880 110,721,995 11·4-l 1887 ...... 105,827,840 36,"180,040 142,407,880 12·04 1888 ••.••. 112,740,300 39,558,840 152,299,140 13·10 EJ.lzabelh, N • .r.-Deta.ult was ma.de 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 accepted in 1888 by large holders or old bonds. Of tht, old. debt only some $395,000 remained unadjll8ted January 1, 188ll. A.ssessed valuations and tax rate per $1,000 have been as follows: In 1882, $12.182,035, rat.e, $31 ·20; tour years later, in 1886, $12,628,710, rate, $27·20; in 1~87, $L3,007,29a, rate, $2ti•80.: in 1888, $12,991,000; rate, $29·80. Population, 1880, 28,229; in 1870, 20,832; estimat.ed In 18S6 to be 32,600. (V. 44, p. 211; V. 46, p. 828; V. 47, p. M.) BYan■-vme, Ind.-There was default in payment of int.erest from April, 1883. In 1887 the old debt was nearly alUu.nded into the several leauea of bondJ above given. Years. Real Es~te. Personalty. TaL Debt. 1884 .••• ........ $13,527,090 $6,519,820 $10 00 fl651,000 188a........ .... 13,~66,645 6,682,895 10 oo 1,651,000 1887............ 15,184,693 6.239,810 16 6623 2,145,000 -(V. 4.3, P..60'7i V, '4, p. 335 V, 45, p, 112.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4\g 4 4¼1 4 to 7 7 6&7 319 &4 4 3·66 319 4 4. 7 7 7&6 J. & J. F. & A. M.&N. Various Various F. & A. J. & D. F. &A. .J. &·i>. .. .. J. & J. Various Various J. & J . J. & J. 4 J. & J. 5 4¼ J. & J . J. & J . 4 J. & J. 6 7 3 e, 4. Va.riouo Va.riOW! 6 5 g. F. & A. 5 &6 M. & N. 4 N. Y., Coffin & Stan.ton. 1905, payable '90 do do 1908 do do 1906,red.1nopttoo N. Y., First Nat. Bank. Aug.,1889 to 1906 do do June, '89•'90-'91 do do 1892·'93-'94-'97 do do Oct.1906 & J'e,' 18 do do Aug., 1899 do do Ja.n. 1, 1918 do do 1911-1916&1918 .. . . .. .. .. Aug.,1889-90·1·2 N. Y., Mercantile Trust Co. July 1, 19 L2 New York. Mar. 1, 1889 to'92 do 1889 to 1893 do 189-l to 1898 do 1897 to 1907 N. Y., Winslow, L. & Co. Jan. 1, 1~12 do do Jl:I.D. 1, 1912 do do July 1, 1912 · do do Joly 1, 1912 City Treasury. Aug. 5, 1892 do Apr.& Rept.1891 Boston, Revere Bank. Aug. 1, 1~94 Bostond Bank Redi~ption. ~~ }: l }~gg 0 .. . . do do 1896-'97·'98 M. & N. City Treasury. Ma.;r 1, 1905 .... Boston, B11mk Redemption. Feb. 1, 1900-1909 M. & N. do do Nov. 1, 1892-1906 F. & A. do do A.ug. 1, 1899-1905 6 1, 1908-1909 ..6. J. ·&·J. Boston, Merobants' Bank ~fay July 1, 1893 M:. & N. Fitchburg City Treasury. 18,8 to 1897 4 J. & J. Boston, Merchants' Ba.uk. Jnly 1, 'Hl, 1905-S 6 3¼&4 A. & O. Fitohborg Oity Treai,ury. 1894,95,98 & 1903 M. & S. Ga.lveswn, City Treasury. 1993-1909 8 J. & D . New York or Galveston. 1920-1928 5 5&6 3 7e ··s· 5 .i'i-e·a:suy. ati Various Suffolk Bank, Boston. J. & J. City Treasury. J. & J. do J. & J. Town Treasury. 4¼ J. & J . do J. & J. 6 .6 do J. & J. .... Hoboken, First Nat. Bank. 7 do do 7 do do 6 do do 6 do do 5 do do 419 City Treasury. 3 to5 Vari<>U,~ A.. & O. do 6 J. & J. do 6 A. & O . do 7 M. & 8. Bost., Nat. Hide & Lea. Bk. 4 Jan. CUiy 'l'rea.aory. 6 J. & J. N. Y., WiRslow, L. & Co. 6 do do 7·3 J. & J. do 7·3 J. & J. do do 7·3 J. & J. do do do 7·3 J. & J. do do 7·3 J. & J. J. & J. N. Y., Meroh. Ex. N. Bank. 6 Various do do 7 r, do do J ..&.J. do do 7 do do Various 7 do do J. & J. 7 do do M.&N. 7 do do 7 A. &O. do do J. & J. 7 do do J. & J. 7 do do J. & J. 7 do do M:.&N. 7 do do J & D. 7 5&6 6 6 6 ..6. 5&6 6 1890:.1908 Jan. 1, 1891 Jan. 1, 1893 Jan. 1, 1897 10 to 25 years $10,000 yearly Ja.n., 1900 1889-1905 Oct. 1, 189211 Dec. 1, 1898 1889 to 190ij 190L to 191 Ang. 1, 190 a Oct: i",' i889 Jan. l, 1900 Jan. & Apr.1,18£6 Sept., l8ij8 Jan. 1, 1890 Jan. 1, 1897 July 1, 1893 July 1, 1~~3 July 1, 1894 July 1, 1895 Jan. 1, 1899 Jan., 1891 tol909 Var.J',-,'89001913Feb.1,1913 July 1, 1913 1891 to 1906 June 8, 1900 1, 1897 Nov•• 1889-1890 July 1,1889 &1900 Jan., '98 & 1900j July 1, 1889 May l, 1890 1~05-1906 Demand. F. &."A. N. Y., Merch. Ex. Nat. B'k. Feb.1,1909 ,J. & D. 1910-1911 do do A. & O. April 1, 1904. . ....... .. Ma,- Pall River, Ma••.-Total runaed debt, Jan. 1, 1888, $3,~01,745; deduct water debt, $L,700,00 ,, and sinking funds, $l,090,2!1.i; Detdeb'$1,111,453. Pop. in 1885, 56,863; 48,961 in '80; 26,766 in '70. Valuation in 1 ~85, i43,815.275: in 1888, valuation, $46,477,285; tax rate $17·40. Fitchburg, 1'.la11s.-Populat1on 12,270 in 188u; 11,260 in. 1870. Assessed valuation of real estat.e (about ca.sh value) ln lij86, $8,~~~t· 675; personalty, $3,071,886; tax rate, 18•2.J per $L,OOO; in 1888, l'1:llUt $9,514,805; per11onal, $:3,147,8\:18; tax r~, $17·80. Galveston, Texas.-Assessed value of real and personal property (a.bunt 50 per cent tr·ue value), 1888, $20,063,883; tax rate per $1,000, $17·00 (of which $2 tor schools). 1885, valuation, $18,588,196; tax rat6 $15·00. Population m 1870, 13,812; in 1888, 22,2-18, 1888, eatl mated, 40,000. Hartcord, Conn.-Total city debt, April 1, 1888, $~,80!,882; net after deducting resources, $1,903,289; net town debts, Oct. 1, 1887, $1,191,346. Assessed valuation in 1886, $-15,700,000; in 1885, $45,898,365. Population, 42,553 in 1880; 37,743 in 1870. Hoboken, N • .r.-The tunded debt May, 1888, was $1,158i350, of whfoh $95,500 was water debt; sinking fund, $5,4\Jl. A.seessea. valuations in 1884: Personal, $1,343,941 ; real eatate, $14,672,700; tax rate per $l 000, $23•5\); population, 35,000. Valt1atio11a in 1887•8: Personal, $1.509,460; real estat.e, $15,873,000. Tax rate i.Jl '86·7, $27-00. Holyoke. Mass.-Total Ut,t debt, $764,500. Valuation, 1885, $16,· 135,5:l5; tax rate, $17•20. Valuation in 1888, $19,122,331); tax: rat.e, :$17·00. Population, 21,915 in 1880; 10,733 in 1870; 35,000 in 1888, eat. Indlanapolls.-Total bonded debt Jan. 1, 188?3, $L,405,000. The Bobool .Hoard is a, distinct organizat'n and levies its own tax ($2 20 for 1884), which is included in tax rates. There are a, few other small issnew a.mounting to $50,000. Ponulation, 75,056 in 1880: 41:1,244 iil 1870. Valuation (one-half real value) and tax per $1,000 have b-,en: Years. Real Estaw. Personalty. Total. Total Tax. 1883 ........... $39,335,860 ,13,792,290 $53,128,ll>O $ll·20 1884....... .••• 40,149,950 13,891,650 54,041,600 12·20 1887 ........... 35,765,8.:,5 14,719,765 SJ,485,620 11•20 Jersey CUy.-One of the main ca11Ses of past Q'ouole m Jersey City ftnanot,s has boon the failure to collect boo.It assessmentot a'ld the larn amount of raalroad property exempt from taxation, b111i BR. propert,,y is now bearing a. share of the taxaRon. INVESTORS' SUPPLEMENT. 10 (VoL. XLVIII. Subscribers "Will conCer a great Cavor by giving tnunedlate notice of any error discovered In these Tables. INTEREST. Date of Size or Amount DESCRIPTION. Prino1E~--:-When When par outstanding. Rate. Bonds. Where Payable and by Payable Value. Whom. F or explanations see notes on first page of tables --· ansas Oily, Mo.-Renewal bonds ($50,000 6s). 1875 to'81 . Funding bonds, aeries "B" ..•..••..•...••..••. 1873 1875 i~t~~-~~~a_-_-.-:: ::: : : : ·.---~,_._._._._._._._._._._._._ 18'i0Jo' 77 1884 $500&0. L awrence, Mass.-Sewer loan .••......••..••..••. Funded debt .................................... 1862 to'75 5000&0. 1881to'87 lOOO&o. do Water loan .•••.••...•..••...•...•..••..•••.•••.. 1873-'75 500 &c. lJong Island, Oity- General bonds .••.........•. Various. Various, l>OO Tax or revenue bonds ......................... 1883-'86 Louis1'ille,Ky.-Waterworks ($187,000due '89) 1859 to'67 1,000 For improvement of streets ................... 1866 to'67 1,000 500 &c. For municipal improvement ..•..••...••....••. 1883 1,000 Re-constructing street ..•..•••..•••.•••.••.•••. 1873 Pub. bld,ga.&inatna.$122,000of'91,pa.atS.F .of. 1871 to'73 1,000 1,000 1868 Sewer bonds •••• _-~- ..•..••..••..••...•...•..••. 1,000 1871 do Ellzabeth & P. D•\lroad .....••......••..••..... 1868 &'73 1,000 Wharf property ($124,000 due May 14, 1898) 1862, 3, 8 1,000 1869 1,000 Jail borda .•..•.•..••...•....••·..••..••..•••.••. 186~ 1,000 For old liabilities ............................... $119,000 of 1901, pa.at S.F.ot. 1871 & '74 1,000 do do 1886 1,000 do do ··-··--· (half are 10-40 and··•····-····· half 20-40) 1,000 1880 do do 1,000 1871 Louisville, New Albany & St. L. Air Line RR. Road bed, Louiav., Cin. & Lex. RR ..•..••..•• . 1871 & '73 1;000 1,000 Citybonda nayable by Louiav. & Nash. RR ... 1863 l,owelt, Mass.-01ty notes (various purposes) ... 1862 to'84 Lar~e. 1,000 Bridge bonds ................................... 1882-83 Water notes ......................... ..,. ......... 1871 to '85 Large. 1870 1,000 Water bonds .................................... .... Sinkin~ fund ..••..••...•..•...••...•..••....... 1883 & 85 Lynn, ass.-Waternote ...........•......•..•.. 1870 ··-· Waoor bonds ($70,000 4a,1888, due July,1918) Various Municipal loan.................................. Various 500&c. 1,000 School Houses ($2,000 paid yearly) .••. ....••. Various Engine House and sewer bonds...... . • • • . • • • • • 1884 1,000 MancMster, N. H.-City bonds .••.. •............ 1869-'85 Nater bondB .•••••••••••••••.••••••.••••••••.••. 1872·'74 lOO&c. 100 &c. Bridge bonds................ . . • . . . . . . . . . . • . • . . . 1881 1,000 1877 Iiiempliis,Tenn.-Comprom. 6a,due1907,atam'd.c 1,000 Tax dist. 6a, due 1913....... .. ... . .. . ...... .•• . 1 1883 Tax dist. 6a, due 1915 ................. ......... 500&c. Milwaukee, Wis.-Re-adjuat. bda. (drawn at par). i861 1,000 General city bonds (drawn at par) ..•...•...•. 1871 do do (not liable to be called in) 1876 1,~00 do do (drawn at par) ..•...•.... 1885-86-88 Bridge bonds (drawn at par). .......•...•..••. 1882-'83 1:000 1872 1,000 Water bds., $240,000 due 1903,dr'n at 100.o&r do coupor> (drawn at par) .••..••... 1883-'4-6 7 Minneapolis, Minn.-City .:>ondR ..•...... ••...•. 1870 to '75 500&0. City bonds (only $40,000 6a-due in 1899) ... 1871 to'81 500 &c. do ($366,000 due 1912 are red. 1902). 1881 to '8fi 1,000 1,000 do 30-year bonds ...•.......••.....••• ~. 1886-7-8 500 M.obile-Fdg. bds.,dr'nat100(4p. c. toJan.1901 1881 Nashville.-City bda. ($25,000,due 1901) M&N c• 1870 to'87 100 &c. Bonds .....••...•...•.....••...•..••..••...•..••. issi> Municip'3.l Bridge bonds .. ,~ .................. c* Waterworka($50,000 due yearly after 1906)0• . Waterworks ($300,000due 1918) .............. 1887°& '88 Newark-Floating debt, &c., sinking fund ...•••. 1866 & '71 1:000 Public school bonds, sinking fun ..••....•..•. 1868 to '87 1,000 1875 1,000 Clinton Hill bonds (a. fd. 3 p. c.) ........... c&r 1,000 Corporate bonds, sinking fund ...•••...... c&rr 1878-'80 Sewer and improvement b'ds (local liens) s. f. 1873--1887 1,000 1,000 Aqueduct Board bonde($2,490,000due in '92) 1867-'86 Tax arrearage bonds, sinking fund ..•..••...•. 1879 to'85 1,000 do do sinking fund .••...•..••. 1886 & '87 ---1885 .Funded debt bonds, sinking fund .......••..••. 1886 Annexation and City tax, sinking fund .....•. 1888 1:000 Intercepting Sewer bonds ..•...........••..•.. 1875-87 Various. t867to'76 1,000 do ($100,000 4a due 1894) ............ 1876 &'84 5,000 1,000 Bewer and Bridge bonds (part sinking fund) .. 1881-'87 New Brunswick, N. J.1st & 2d mort. water works bonds ............ 1867-69 . Water b'd.a. or '64,'73,'74 ($10,000 only are 6a) 1864--1874 . 1873 City improvement bonds ....................... ·--· ---· ~J1!1!a ··············-···-··--············· ---····--· I i:ooo --- ·--· Nwaf!f{'::°fJ;:~~~~::?!~:.~~~~~~. . ~~~~-~:.f:~: $390,000 250,000 142,500 248,000 300,000 354,000 225,000 1,300,000 911,500438,500 686,000 190,000 1,500,000 600,000 519,000 81,000 423,000 998,000 139,000 133,000 51,000 513,000 500,000 1,000,000 472,000 350,000 333,000 737,500 402,500 534,000 1,300,000 120,050 100,000 297,f\OO 595.000 91,500 285,500 285,000 600,000 60,000 747,000 l,fi41,200 95Z,OOO 30,000 170,000 98,000 598,©00 127,000 1,183,000 1,309,000 595,500 422,000 2,195,000 2,000,000 2,264,500 1,088,700 200,000 80,000 450,000 468,000 556,000 581,000 400,000 1,200,000 2,598,000 3,497,000 1,114,000 172,000 232,000 284,000 620,000 363,000 460,000 200.000 115,000 --· --· S ~ g fund b~~ds·_-_·::::::. ·::::::::::::::::::: 1881-82 1882-85 500 500 Dec. 1, 1887, city liabilities were: For general debt. $5,727.083 assessment debt, $5,873,500; temporary loans, $805,000; du-3 State and cot1:bty, $1,293,060; making, with other items, $ L5,614,820, and water debt additional, $-l,9j9,000. Resources: ca<1h, $183,557; bonds in sinkng funtl, $'3:.!6,898; unpaid taxes, $5,652,8t2; unpaid assessments, $2;849,261; city property, $1.426,500; with other items, total assets, $11,384,828. Population in J.880, 120,722, against 82,546 in '70; in 1885, 155,300. Valuations and tax rate per $1,000 have been: Years. Real Estate. Personal Prop. Tax Rate. 1884 ....................... $61,571,512 $(,564,683 $32 80 1886 ....................... 61,894,739 4,995,200 29 40 1887....................... 63,981,430 4,983,650 1888 ... ··•··•••·••·· ....... 64,069,305 4,971,420 29 80 Value of railroad property. not included above, $25,000,000, which is auoject to a tax rate of l per cent for city purposes. (V. 46, p. 81i>.) Kansas City, lJ.lo.-Total funded debt July 1, 1883, $1,045,121, deducting sinking fund assets, net debt, $700,121. In 1885 assessed valuation was $31,678,520 and ta.x rate 15 mills. In 1886 real estate valuation was $36.833,550; personal, &c., $9,553,240; tax rate per $1,000, $14 00. In 1888 real estate valuat,i on, $44,961,120; personal, $13,218,820; merchants' tax, $3,669,830; tax rate, $11 00. AaseE!sed valuation 1a one-third the real. La-wrence, lliass. -Total debt, Jan. 1, 1888, $2,179,000. Sinking funds, $482,542. 'l'ax valuation in '85,1$27,144,050; ta.x rate, 16·60; tn '86, $27,165,590; tax rate, 16·40; in '87 $28,427,123; tax rate, 17·80. Assessed valuation toward 90 per cent of real val110. Pop., in 1884 45,000; 39,151 in'80; 28,921 in '70. Lonlsvllle.-The funded debt, Jan. 1, 1888, exclusive of loans paya,. ble by railroad.a, was ·$8,837,000 ($686,000 for water works), against $9,352,000 Jan. 1, 1887. The sink(ng funds on Jan, 1, 188d, amounted to $3,635,760. Population by Census of 1870 was 100,753, against 123,758 in 1880. The following ligurea give the assessed property valuation: 1882, $70,029,724, of whlch $52,269,68! was realty; in 1884, $63,927,077, tax rate, $21 00; in 1886, valuation, $64,405,515, tax l'ate, $23·00; in '88, val'n real est., impr'ta, eto. (incl. RR'a), $65,000,000; pera'l prop., etc., $7,269,487; tax rate, (levy of'89) $20·20. l'-lanehester_, N. H.-Valuation fn 1885, $21,137,464; ta.x rate, $17 50 per $1,uOO. Valuation in 1887, $21,905 476; tax rate, $17. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 180.000 153,500 32,000 47,000 52,000 6, 7 &8 Semi-an New York, Ninth Nat. Bank 1895 to'98& 1901 Berni-an 8 do May 1, 1893 do 8 J. & J. do do Aug. 15, 1895 7 do do 1890 &'97 J .. &.J. 4 Lawrence or Boston. · July, 1904 6 Various Boston, Tremont Bank. 1890-1894 4 Various Lawrence, Mass. 1891-95-1902 6 A. & 0. do do Oct. 1, '90, to 1906 6&7 Various N. Y. City & L. I. City. In instalments. 5&6 Various do do 1889 t o 1903 6 Various N. Y., Bank of America. 1889 & 1897 Various Louisville Sinlr. Fund Office. 6 1896 &1897 4 J. & J. New York, U. s. Nat. Bank. 1923 J. & J. N. Y., Bank of America. 7 July 1, 1903 7 Various do do 1891, '92 & 1903 6 J. & J. Louisville Sink. Fund Office. July, 1898 J. & D. N. Y., Bank of America. 7 June,1901 Various do 7 Jan. 1,1903 do Various Louisville and New York. 6 1892, '93 & '98 A. &O. Louisville BiaJr.Fund.Offi.ce 6 Oct. 1, 1898 J. & D. do 6 do June 1, 1889 Variou8 N. Y. Bank of America. 7 1894 & 1901 F. & A. N. Y., Nat. Bk. of Republic. 5 Feb. 1, 1911 M.&N. N. Y., Bank of America. 5 May 1, 1920 M. & S. do do 7 Sept., 1891 J. & J. do do 7 July, 1901 & 1903 Various New York and Louisville. 6 1893 4to6¼ Various City Treasury. 1889 t&1894 4 Various do 1889 to 1903 City Treasury. 3¼to66u Various Dec.,1888 to 1911 M.&N. Boston, Bank of Redemp'n. 6 Nov. 1, 1890 3¼&4 Various . . ......... 1889 to 1895 6 City Treasury. Dec. 1, 1890 31.g to 6 J. ..&. J. Boston, Bank Re~ubllo. 1891-1918 5&6 Various do o 1890-1897 3 19 &-! Various City Treas'ry & Bk. Repub. 1889-1897 319 &4 Various do do Nov. 1, '89-1907 4&6 Various City TreaRury & Boston. 1893 to19U 4&6 J. & J. City Treasury. 1890to 1907 4 J. & J. July 1, 1911 do . . 6 J. & J. N.Y., ChemicalBk.,&Memp 1907 6 J. & J. do do 1913 do 6 J. & J. do 1915 5 J. & D. Mil.&N.Y.,MortonB. & Co Juno 1, 1891 7 J. & J. do do Jan. 1, 1901 do J. &D. June 1, 1896 7 do 4 do J. & J. Julyl, 1905-7-8 do 4 do J. & J. do July 1, 1902 do 7 J. & J. Jan. 1, 1902&1903 do 4 do 1903-4-5-6-7 J. & J. do Various New York, Nat. Park Bank. May 1, 1889-1905 8 5, 6, 7 Various do do 1893-1902 4-41.g Various do 1906 to 19U do 4 do Various do 1916, 1917 & 1918 4 to 5 J. & J. N. Y., Am. Ex. Bk,& Mobile. Jan. 1, 1906 6 J. & J. New York and Nashville. 1889 to 1905 .A.. & 0. 5¼ 1905 5 J. & J. N. Y., Chemical Nat. Bank. Oct. 1 , 1906 do 6 M.&N. do 1907 to 1915 41.g J. & J. New York & Nash. 1907 & 1918 7 Various Newark, City Treasury. Mar.;1891 & 1896 4¼&7 do do 1889 to !.l!92 7 J. .&.J. Newark, Nat. State Bank. July 1, 18~5 5&6 Various do do Aug., 1908 & 1910 4,6&7 M.& s. do 1893 to 1909 do 4,4¼to7 Various do do 189Ho1916 5 F. & A. do do July, 1889 to 1895 do July 1, 1891:5 & '97 do 4¼ J. & J. F. & A . do 5 Aug. 14, 1895 do 4 do M. & S. \far. & July, 1906 do 4 A. & 0 . Newark. Apr. 10, 1908 31.g & 6 A. &O. City Treasury. 1891 to 1910 6&7 A. &O. do Oct., 1889 to 1909 do 4&5 A. & 0. Oct. 1, '94 to 190 4 do 312,4&6 A.. & o. Oot. 1, '89 to 1906 7 6&7 7 5 6 M.&N . N. Y., Ninth Nat. Bank. 1892-1904. M.&N. N. Bruns'k Nat. Bank, N. J. 18~9-1900 do uo Jan. 1, 1889-92 J. & J. do M. &S. no Sept;, 1, 1901·1~0 J!'MAS do do 1902-1903 The net proceeds from the waterworks more than meets the annual interest charge. Population, 32,630 in 1880: 23,536 in 1870. Dietnphbl, Tenn.-Total funded debt May 31, 188S. $3,241,711 The city defaulted on its int. payments in '73, and the Legislature passed a bill, Jan., '79, repealingthe city's charter, and the ·'Taxing District of Shelby County" was organized. March 23, 1883, an act was passed authorizin~ a settlement of the debt, which has since been effected at a.n avera_ge rate (including capitalizations) of 60·53 p flr cent. Beg-inning with July. 1889 coupon, interest on the Flipren a1amped and the new Tax: District 4-6a is at the rate of 6 per cent per annum. In 1884 valuation of real and personal property, $13,499,325: tax rate, $23 50. Population in 1870, 40,226; in 1880, 33,592; in 1884, 6Z,335 . . Dill-wankee Wls.-The city cannot issue debt beyond 5 per ct. of its average asseRsed valuation of real and personal property for five years. In 1884 valuation was $74,951,750; in 1885 real estate, $61,445,921 and personal, $17,415,44!'l; in 1886, $82,641,743; in !.887, real estate, $69,962,865; personal, 19,009,315; and tax rate. $17·50 per $1,000. Total bonds June 1, 1888, ,1;3,679,500, or which $2,569,000 for water; sinking fund, Jan., 1888; $389,065. Sinking funds are provided, and all old issues except the o-eneral bonds due 1896 may be called in and paid by sinklng fund; ho?dera were misled as this was not stated in the bonds. Population, 71,440 in 1870: in 1887 /estimated), 180,000. Dilnneapolls, lfflnn.-Total funded debt Maroh 1, '88, $'1,824,500; sin.kin~ fund. $328,323; tax valuation (about 61-i 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; tax rate $20 60 to $22 50; in 1885 total, $77,468,267; in 1880, $28,013,315: tax rate, $16·10. Pouulat10n, 46,887 in 18°80; 170,000 (estimated) in 1888. llioblle.-Valuation OL real and personal property in 1883, $15,350,738; in 188!, $13,578,347. in 1885, $13,763,8 ·t2; in 1887, real estate, $8,154,489; personal, $5,235,822; and tax rate, $13 50 per $1.000. Population 35,000 in 1885 ; 31,297 in 1880; 32,034 in 1870. (V. 48, p. 99.) Nashville, Tenn.-Tota.l bonded indebtedness Sept., 1887, wa.s $2,070,000; assessed valuation of all property in 1887 was :627,214,450; tax rate per $1,000, $15; in 1881 valuation was $15,219,575. Population, 43,350 in '80; 25,865 in 1870. Newark.-Tota.l funded debt, excluding water debt, Dec. 31, 1887, JANUARY, CITY SE<JURITIES . 1889.] 11 Sub•crlber• -wlll conCer a great Cavor by giving hnlllediate notice ot any error dl•covered In O&eae Table-. INTEREST. DESCRIPTION. Date of Amount Size or Princi~al-When Where payable and by par outstanding. When ue. Bonde. . Rate Whom. payable .For explanations see notes on first page of tables. Value. New BrunBWick, N. J.-( Oontinued.) Sinking fund bonds .•••••... _• . • .•.••••.••..••. 1885-86 do ......•......••........•..•.. do 1887 Commissioners of streets and sewers .••....... .... do do .... /itw Ha1Jen, Oonn.-Seweraffie .•...••............ 1871 Bonde (10-20 b' da) reduce to 4 p. c. in 1887. 1877 Sewerage bda. (pay'le $15,000 y'rly from '95). 1883 Boul'vard 11ewerb'ds (pay. $25,000 from 1902) 1887 New Orleans-Consolidated debt .....•••.•••.••. 1852 Consolidated debt, extended .. _.........•...•. Jud~ment b onds ......•.......•..•...•.......•.. Oertifl.catea to fund coupons, red. at 100 ...... 1883 Railroad debt (all extended except $28,000). . 1854-75 1869 Fonding loan of 1869 ($27,150 ext. to 1922). 1870 Fonding lo'l.n of 1870 ($23,300 ext. to 1922). Park bonds (mort. onparka) ............ . ....... 1871 & '84 1857 Jefferson City (debt assumed) extend'd . ....... 1875 Premium bonds (in exchange f or other bonds) 1869 Water Works ($72,400 extended to Jan. 192~) Other old bonds (mc, atly ex. to 1922 & 19~3) .. 1857 to ' 73 1888 New funding b onds ($20 ,000,000) .......... •. Newport, Ky.-Bonda $15,000 only, due 1894. .. 1870 & '7s Bonds ($700,000for wa terw'ka, 1901 to 1903) 1871 to '74 Renewal 20-yr bonds, $20,000 are 5-20a ....•. 1880'83'84 l886 Bridge bonds................................... New York-Armory bonds .....••......•••....••. 1884 & ' 88 A.aaesament bonds ..... _•......... _..••...•..• _. 1884 to '88 Assessment fund st ock .... .. .•.......•......••. 1868 to '83 Additional new Croton .A q ueduct stock .••...•. 1872 t o '77 Croton water stock ..............•• . ..........• . 1847 t o ' 52 Additional Crot on wat er stock .. •... ..•......•. . 1871 t o '88 Additional w aterat ock, red'm 'ble after 1913. 1883 to'84 1885-8 Additional Water stock............ . . • .. . • . . . . . Croton wat er m ain stock ..... . . _.............. . 1871 t o '81 1 866 Croton Reser voir b onds....................... . Central Park f und stock ..•... . .......•...•..•. . 185 6 t o '58 ........ . ............... 1865 t o''il do do City improvement st ock .. . .. .. .. .....•......... 1869 to '7 8 do (con a. ,$687,803red.aft.'96) 1876 t o '80 do 187 4 City impr. stock (cons. st'k) ........•. . .•. c. & r. City Lunatic Asylum stock . .... . ....•......... 1869 t o '70 City par.ks improvement fund atook ...•....... 1.871 to ' 80 Consolida t ed stock, county . .....•.....•. c. & r. 1871 & ' 72 city ... . ........•...•. c. & r. 1871 & '72 do 1871 dock bonds .......... c,. & r. do do 1872 do ~\io~~~~~: 1878 do city .••...•.. . .....••. c. & r. 1874-'75 do city .......•...•...•..••...•. 1872 to'74 county (A & B) ...•.••••.• _. do 1874 do 1874 01ty (B & C) ................ do c,ity (DE & FL ••..••...••. 1876-'77 do city tGKL&M) ........... 1877 to'84 do city ..•......•............•. 1880 do conaol. at'k (Riker'a Ial'd) .. 1884 do (Harlem River Bridge) .... 1886 to'i38 Dock bonds .••...............•............•...•. 1870 to'88 Consol. stock (.Metropolitan Museum of Art) .. 1884-'88 .FireDepartment stock ..•...........••......... 1869-'70 Ganaevoort Market cons. stock, rev. bonds ... 1887 & '88 Market stock ..•. . •...........••...•.......•... _. 1867 to'69 Museums of Art and Natural History stock. 1873 to'81 N. Y. City bds.for conat.of bridge o,.HarlemR. 1879 to.'84 N, Y Bridge bonds ...•..••..••..•••.••..•••..•. 1869 to'75 do do Consol. stock, redeem. after '96 ...•. 1876 do do $500,000 af. '96,$1t!21,900 af. 1900. 1876 to'80 do do $750,000 a:f. 1903, 16,666 af. 1905. 1880 to '83 1871 .Ninth District Courthouse bonds •••..••..••... Normal school fund stock ..........•..••....... 1871 & '72 N.Y. Co. Courthouse at'k, Noa. 1, 4 & 5 ....•... 1862 to'82 N. Y. and Westchester Go.improvementbonds 1871 Public school building fund stock .. _..••....... 1871 to'74 School House bonds . .•...•..•....•.. _•...•...•. 1884-'88 1864 Soldiers' bounty fund bonds .••......•...•..•• . No. 3 ..•...••..•. .. do do 1865 1865 Soldiers' bounz fund red. bonda,No. 2 ..•...• . 1870 Ta.x relief bon a, No. 2 .................. c. & r. Third District Court-house bonds ............. . 1874 to'77 Wator ot,ook of 1870•••..••. . ••..••.. •••••••·•• · 1 1872 ..•. Debt of annexed territory of Westchester Co Oona. stock, Imp., ($20,000 due Nov. 1, 1913) 1887 & '88 iss4 ~~1. ~~·-~: t\: 500 .... .... 1:000 1,000 1,000 1,000 1,000 1,000 .... ··-· --· ..... 1,000 .. -· ··-· ··-· .... . -----· .... .... .... ·500 500 500 500 100 500 500 500 500 100 100 100 500 500 500 100 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 100 500 100 500 500 100 500 500 500 500 500 100 500 500 500 100 100 100 500 500 500 500 500 124,500 45,000 4i:S4,100 374,500 499,000 150,000 150,000 175,000 1,254,000 3,048,000 l,04.J.,146 1,989,778 397,000 567,750 375,750 249,000 41,500 7,246,660 82,400 246,313 (1) 75,000 800,000 129,000 38,000 1,422,000 4,098 ,000 1,393,t,50 1,331.300 321,400 6,409,000 445.000 19,5 00,000 5,196,000 20,000 674 ,300 1,766,600 7 ,977.515 701,4 19 820,000 700,000 4 ,799,000 8,885,500 4,252,500 1,000,000 862,000 6,900,000 1,564,000 2,455,000 1,680,:.!00 6,324,700 1,858,349 956,100 2,800,000 180,000 2,450,000 13,553,000 157,000 521,95;i 503,715 296,000 958,000 499,500 1,500,000 500,00C 1,92t,900 1,166,606 300,000 200,000 1,053,000 30,000 636,000 1,958,000 1,000,000 745,800 376,600 3,000,000 398,000 475,000 658,500 212,000 J, & J. N. Bruns'kNat. Ba.nk,N. J. do do do City Treasurer. do do de New Orleans, do do do 6 do 6 do 6 &7 do 6 &7 do 6 &7 do 6 do 5 do 5 &6 do 6 to 8 5 or less J .. &.J. .. . .. -..... Various 8 . ....... 7•3 M.&N. . .r. & J. 5 ........... J. & J. 4 ·············· M.&N. 3 -~~ 3, 3¼ M.&N. ....,o 4,5,6 &7 M.&N. ~-g M.&N. 5, 6 &7 Q.-F. 5&6 3½!to 6, 7 M. &N. 3, 3½ A. &O. O!!J 3, 3½ A.. & o. 't:! 4,5, 6&7 M.&N. 6 a.-F. <Zl .-F. 5 &6 Q.. - F. 6 "d~ 5,6 & 7 M.&N. ~~ 5 &6 M. & N. Etti 6 g . M.& N. 0~ .µ <Zl 6 &7 M.&N. ce Q;) 5,6&7 M. & N . .µ~ 6g. J. & J. ~~ 6 g. J. & J. ~o 6g. J. & J. 6g. J. & .T. 5g. M.&N. '0~ 6 :t, M.&N. Q;>,C 6 &7 .M. & N. J. &D. 7 <Zl oS J. &D. °Q)Pt 7 Q;>!j 5 &6 M.&N. ~~ 4 &5 M.&N. 0 M.&N. ► 4 .M. & N. 3 ~~ M.&N. 3 oS'C 3 to 7 M.&N. ~~ M.&N. 3 ~~ .M.& N. 6 zg .M.& N. 3 6 &7 .M.& N. q;,O 4,5 &6 .M.& N. 3,4&5 M.&N. 'to~ M. &N. 6 M.&N. 6 .µ.C Q..-F. 5 oS i:I q;,O & N. .M. 4 &5 M.&N. 7 :o§' cjjo M.&N. 6 l>.o 4,5,6&7 .M.& N. cjj'd Pt ... .M. & N. 6 .M. & N. 6 $~ .µ ~ M.&N . •3 cri .= M.&N. 6 M.&N. 7 M.&N. 7 =o M.&N. 7 ''"'ti} A~ 5 &6 M.&N. oi... 6 &7 M.&N. C.£ Various 7 M.&N. l 3 0 6 5 7 6 7 4 3½ 312 6 6 5 M_-&N. M.&N. A. & 0. J. & J. F. &A. J. & D . Various Various J. & D. J. & J. Various M. & 8 . J. &D. J. & J. Various J. .&.J. --·-- --- --· --· .. -· ··-··· ·- -· is ~-s !~ :s~ }~ 1905-1906 May, 1897. 1894-1898 1898-1906 Oct. 1, '91&1901 July 2, 1897 lb95 to 1904 D ec.,1902 to 1908Jan. I& 1892 1922 1023 June 1, 193.J. Jan. 1,1893 1894to 1923 .Mar. 1894 & 1922: June 1895 & 1922 Feb.1904 & 1923 19 22 & 19231 When drawn. 1899 & 1923 1892 to 1923 1918 1894 & 1900 1894 to 1903 1903 t o 1906 July 1, 1911 Aug. 15.'94,04,'07 Nov. 1,1889 to '92 1903 & 1910 Aui, 1, 1900 F e . 1 , 1890 1891, '99 & 1904 Oct . 1 , 1933 Oct, 1, 1904, '5& 7 Nov. 1, 1900-1906 Aug. I, 1907 July 1, 1898 June 1, 1895 Nov . 1 , 1889& '92 1900 & 1926 Nov.1 , 1896 Au§i. 1, 1889 l 01-1904 July l, 1901 .July 1, 1901 July 1, 1901 .Tan.1,1902 Nov.1,1896 Nov. 1,1928 Nov .1,1894 Deo. 1, 1896 Dec. 1, 1896 May 1, 1916, & 26 Nov. 1,'89, '97 •i,.9 Nov. 1, 1910 Aug., 1894 Nov. 1, 1906-1908 Nov. 1, 1901-1918 Nov. 1, 1905-1913 Nov. 1,1899 Nov. 1, 1907 &'09 May 1, 1894 & '9'7 May 1, 1903 Nov.1,1891 Nov. I, 1905 .May 1, 1926 Ma y 1, 1926 May 1, 1928 Nov. I, 1890 Nov 1, 1891 Nov. 1, 1889-'98 Dec. 1, 1891 Nov, 1, 1891 Aug.,'94 &Nov. '97 Nov., 1889-'90 Nov. 1, 1893-'9'7 Nov. 1,1891 Nov.1,1890 Nov.1,1890 Nov.1,1902 1889 to2147 Nov.1, 1907 &'13 1 e~ ~§ J:; 5~ I was $7,379,000; the temporary deut was $1,793,8 28; and the sinking real and. ueraonal, in '80, $91,117,918; tax rate per $1,000, $18·20 fund amounted to $2,726,2G6 ($217,216 cash, rest loans and bonds at in '85, $123,929,268; tax rate $25·40; in •~6, $127,705,853, tax: rate par, moat}.y thu8e of the city itself). The Aqueduct bonds are not $20·20; in 1888, $127,000,000, tax: rate $20·20 (city expenses tax: a direct liability of the city. Real and personal property have Ueen as- $10; premmm bond tax, $5; redemption interest, &c., $5; park: bond sessed at about two-thirds of true value as follows : l884, real estate, $72,456,775; personal, $18,524,775; tax rate per $1,000, $20 30; 1885, real estate, $74,189,110; personal, $18,730,160; tax rate, $19 30. In 1887 total valuation was $95,1)90,553, and tax rate, $20·20. Population in 1870, 105,059, against 136,508 in 1880, and 155,000 in 1885. New BeMord, Ma81!1.-Debt Jan. 1, '89, $1,335,792. Pop., 35,000 in '8f!. Assessed valuations in '87 were real estate, $17,372,600; personal property, $15,309,694; tax rate, $17·40. In 1886 were real estate, $16,7'i 8,908, and personalty, $15,416,696; tax rate, $16 per $1,000. New Bruns-wick, N. J.-There are also $14,900 5a, due Oct. l • 1888. The fl.seal year ends March 31. In 1888 the assessed valuation (of about ¾ true value) of real estate taxable was $4,4-14.,<,65 ; personal, $2,060,060; tax rate, $3 ~·50 per $1,000. Bonda held by ainkJ.ng fund March 31, 1888, amount ed to $113,000. The city finances are now under able and conaerv a.tive m anagement, and the actua1 net debt · is decreasing. On April 1 the statement waa as follows for four yeard : In 1885, net debt leas cash and sinking funds, $1.561,100; in 1886, $1,526,134; in 1887, $1,508,882; in 1888, $1,473,315. New Haven, Cenn.-Bond funds, $156,159. Population in 1870• 50,840; in 1880, 62,b82; in 1888 (estima t ed), $95,000. Assessed. valuation (a.bout 80 per cent of value) tlLx. rate per $1,000, &c., have been: Yea.rs. Real Estate. Personalty. Rate of Tax. Tot. D'bt. Bkg.Fds.&c. $ , 19,000 $114,078 $11 00 1885 .••. $!2,000,000 $16,000,000 134,784 799,000 11 00 17,500,000 1886 .••. 43,500,000 156,159 974,000 11 00 21,000,000 1887 .••. 4.0,000,000 974,000 11 50 22,000,000 1888. ·-· 42,0C..0,000 New Orleans.-Total bonded debt Bt pt., 1888, was $16,573,799; ftoatln~ debt, $844,1U6. In June, 1882, new 6 -per cent 40 year bonds were IBaued for all old bonds other than premiums; the extended bonds running till 1923, but redeemable after 1895. In 1888 the city was autho1ized to is sue b on d s bearing 5 p er cent or leas intM~at for a n amount not excee dir g $ 20,000,000, to r e tire by p urch ase or exchange the outstanding bonds a n d certificates. Valuation of proper t y, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis taic, $v·20) .A.scheme tor settling the debt by a bond premium drawing plan is in practice, and drawings take place Jan. 31, Aprll 15, July 31 a.nd Oct. 15. Population in 1880, 216,090. (V. 47, p, 50, 170, 472.) Newport, Ky.-Total funded debt Jan. 31, 1888, was $1,071,000, ot which lj,~v0,000 was water debt; sinking !und assets Dec. 31, 1887, $30,749. Asses sed valuation (about two-thirds true value, in 1887peraonal property $605,716, r.Jal estate $7,023,84.0; tax: rate 1882 t,o 1887, inclusive. $20 00 per $1,00); populatiou 1880, 20,433; in 1887, estimated 30,000. New York Clty.-The following atate~nt shows the details of funded debt and the amount in the city «wrlng fund at the datea named: Jan. 1, 1889. Jan.. 1, 1888. Jan. 1, 1887. Description. $132,445,095 $128,263,719 Total funded debt .•••.•. $125,982,736 41,434,690 39,522,484 Sinking fund............ 41,205,470 Netfunded. debt .•••. $84,777,266 5,618,368 Revenue bonds .•••. _.... $88,746,235 4,554,346 $88,010,405 3,302,730 $91,313,135 $93,300,581 •.rota.I net debt....... $90,395,634 'l'he population of New York, by the U. 8. Censlld, in 1870 was 942,292, and 1,206,299 in '80. Jan. 1_, '65, and since Jan.,'72, the valuation,rate of taxation, and net funded aebt at end of year have been as follows: Net Debt, Tax p. $1,000 Personal Real Deo. 31 * State. Cilly. Estate. Estate. Years. $35,973,597 1865 .•••.. $427,360,884 ,181,423,471 34 96 $24 94 95,467,154 5 20 23 81 306,949,422 1872 . •••.. 797,148,665 117,700,742 3 78 22 72 206,028,160 1877t.. ••. 895,063,933 113,418,403 3 56 21 94 197,532,075 1878.... .. 900,855,700 109,425,414 3 43 22 37 175,934,955 1879 ..••.. 918,134,330 106,066,'.MO 312 2213 201,194,037 1880 ..•... 942,571,690 109,383,483 '--22 50----' 198,272,582 1882 ..•... l ,035,203,816 1_.A.nnexed tow ns included , ~Less i;in.king fund. INVESTORS' 12 SUPPLEMENT. [VOL, XLVIII. Subscribers 'Will conCer a great Cavor by giving Immediate notice o-C any error discovered In these Tables. DESCRIPTION. Date of Bonds. Amount Size or ontstanding. par Value. 1870-'84 1881-'86 1872 ·'73 1887 1871 1869 18~0-'83 1888 188:l-'87 1886 · 1859-' as 1871 1869-'82 1887 1864-'6!'> 1877-'e7 1888 •••• •••• •••• $100 100 100 500 100 50&c. 1,000 For explanations see notes on first page of tables. Norfolk, Va.-Coup. bonds ($413.400 due 1914) Coupon bonds of 1881............. . . . . • • . . . . . . . Trrult and paving, coup. ($189,S00 due 1893). Coupon bonds.......... . . . . . . . . • . . . . • . . . . . . . . 1st M. waterworks ($500,000due May, 1901)c Omaha. NetJ.-U. P. Bridge and Depot bonds... Bonds ($66,100 J1re 7s, due Nov.. 1900) . ...... New bds, $25,000 1ue yearly, 1889 to '97 incl, Fund.in~ and Sewer bonds ............. ~······· Sewer bonds........... . . . .. • . . . . • . . • . • . • • • . . • . Paterson,N.J .-School bde <$6,000 are 4 lgs, A&O) Fonded debt bonds, $5.000 due yearJy. .. .... Bewerb'ds ($214,000areJ. &D. &$90.5001>s). Sewer appr. bds., $11,000 du~ y'rly fr. 1900. War bounty bonds {about $.W.500 ctue yearly) Renewal bonds. ''B," "C," "D," ·'E" and "F''. Park bonds, payable yearly after 1907........ Pemai 1Us.-8chool loan........ • • • • . . . . . • • . . . . . War oan........................................ Water loan ......•.••••••••.......••...... ~...... p~~h~Con'solldiiied city ioan::::: =.: ::: :::: 1,000 500 500 500 •500 500 500 • ••• • ••• • ••• 50&c. 50 &c. 1855 for railroad stock subsidy sub11mipt'na for water works ........................ 1855 to '71 50 &c. for bridges .••...........•.••••.•....••.. 1859 to '70 50 &c. for park an<1 Centennial. . . • . . • • ..•.••. 1868 to '70 50 &c. for war and bounty purposes ......•... 1862 to 65 50 &c. do municipal, school, sewer, &c ..•........ 1860 to '70 50 &c. Gnarant'd debt, gas loans,$980,200due '99 .. 1868 to'74 50 &c. 2!'> &c. 1879 New fund'g ("H"·"Y")$400,000,due yly.af.'Sfl Pittsburg-Water exten. loan .••...•.•••..•.. c&r 1868 to '74 1'10 &c. 25 &c. 1878 Water loan .....••.•••..............•....•...•. r Fonded debt and other municipal bo11.ds ..••.. 1845 to '72 500 &c. 100 &c. 1863 Oompromise railroad bonds.......... . . ... c<'l>r 100 &c Fnudeddellt 1mp.bda(77,000onlydue1912Jc&r 1882-'83 100 &c. 1885 Improv. bonds (Act of May9,'7U) .••.. ..•.. c&r &c. 500 1872 Portland, Me.-Loan to Port. & Rochester RR. 1,000 1872 do Portland & Ogdensburg.............. Municipal-proper and notes.................. 1867-79 500 &c. 1,000 1887 Funding loan (rerl. on or aft<cr July, 1902) .. lOO0&c. 1863 P,.Ollidence, R.1.-War loan honds ........... c&r Water loan bonds, gd. (r820,000are6s,cp.).. 1872-74 l000&c. lOOO&c. 1876 ....•.............. c&r <10 do 1,000 18 ➔ 6 gold coupon ..••.. c&r do do £100 1875 City Hall & sewer loan b'ds, sterllDg ••••.•• c&r lOO0&c. 1879 loan of 1879 .........•.. c&r do !.arge. 1879 Public imp. loan ($4:'>(1000 due I 899) ........ r 1,000 1872 Prov. & Spnnldield R~ bonds, guaranteed... Various 1879 New High School Building certificates ..••... r 18~7·98 Val'ious Special Hiµhway loan......................... .••. fuincy, Ill, -Bonus .......•..•....•......•....• 1 1866 to '77 .••• lo70 Mls@. & 11:Jo. KR................................ . •••• Bonds ($184.0l0, due 1908 int. July 1) ..... r 1886 & '88 •••• llich.ffl.lnld, Va.-Bon<1s ..•.•••....••.•••••.... c&r • ••• •• • Bonds reg. atd coup. ($213,500 are coup.). . • ••• •••• New tives, 10-34 years ......... .•• .... ..•..... r • ••• ••• • Bonds ($i76,000 due 1920 ·~$152,700 due '21) r 0 L?!~~~ :~ieP.t~ft'i?o~a: 187~~~~74 1Jo~~. For city improvements ($a35,000due 1902) .. 1872 to'75 Various Water works loan, coupon and registered ...•. 1873 to '76 lOOO&c. 1,000 1875 Fun din'( loan.................................. . 5,000 1882 Consol loan................... . . . . . • . . . . • . . . . . . . 5,000 1885 Local improvement funding loan.......... . .. . rt ..LouiB-Renewal bonds ($1 <10.0U0only are 7e.) 186d to '79 Various .. . •o·o . ... Ben'w'l bds, $412,000, '95: $100,000. •~ts..... 1880 do ll'&£ 1$54l:!,00010·20s, int.J.& D.) 10 do $ & £ (10-2Us) ..••..........•.•••. 1882-83·85 1,000 1887 do ...................... .•.........•.. 1888 do $ & £ ($1,n59,00•l due A.pl. 10,'08) i.ooo 1875 Various General purposes ($55,000 Caron. indebt;.... 1868 1,000 Tower Grove Park bonds (fl:Old)............... . 8ewero!lnds($228,000,'89; $200,000,Jan.,'93) 1869 to"i5 1,000 Newwat.w'.ki;i,2.($450,000, June,'90o'y treaQ) 1870 & '72 1,000 1 1 1,000 ~~ .~'. ~. ~~•. 1,000 1,000 Real e8t., g. ($2f ,000 5s '90,$245,000 6s 1906) 1866-75 1872 500 Brid2e approach bonds (gold)................. 188:\ 1,000 Bondll for l:!t. L. Gas Light Co., jud,inn't.R or$ 1872 1.000 St. Louts Co. bds. assun;ed, genJ. purposes, g. 1875 Park bonds, coup., gold do 1,000 do . 1881 Ill. Jost'JJ)ll,1 Mo.-Funding bonds.... ••••..•..... . 1883 Fllnding bonds................................. Bonds do do do do B~~::h.~~~£e ~~~~febf~~ ~ ~~-~~~~ ~~~: ~~ ½:~! When Pay'ble Where Payable and by Whom. Principal-When Due. Various Ba.lt.,Bl'own & Lo's &Nor. July, '94 to 1914 6 $860,?00 rnn to 1916 do do A. & o. 5 660,000 Apr.. '92, July,'93 _ do do A.. & O. 8 290,800 Sept. 1, 1917 Norfolk. M. & 8. 5 37,500 5 &8 M. &N. New York and Norfolk. 1901,1914&1915 640.000 Oct.. , 1889 N. Y., Chem. Bank. A. & O. 10 162,850 1900 to Hl03 Kountze Bros. 6 & 7 Vari'lUS 26ti,l·.0 July, 1889 to '97 do do Semi•an 6 242,000 1902-1907 do do Various 5 877,000 Ausr., 1906 do do 419 F. & A.. 100,000 1889-1904: 54,000 412 &7 J. &D. City Hall, by Treasurer. 1889 to 1900 do do J. & D. 7 65.000 1889-1902 do do 383,500 5, 6, 7 Various 1900 to 1905 do do J. & D. 4 65,~00 1889 to 1900 do do J. & D. 7 270,500 1901-1916 do do 383.500 4, 41g & 6 Vari•)US 1908 to 1912 do do A. & 0 . 4 125,000 1, 1890 June Bk. Ex._Nat. Meroh. Y., N. Variolll~ 7 345 Ma.r.1, 1902&'03 do do 419 M. & N. 929,420 1889·1901 1, Aug, do do 255,000 5, 6 g., 7 Various 1908 N.Y., Am. Exch. Nat. Bank. 41g 345,000 1889 to 1897 J. & J. Philadelphia, by Treasurer. 6 P92,220 } do do J. & J. 6 256,800 1889 to 1903 do do J. & J. 6 6,264,800 do do J. & J. 6 3,83H,000 } do do J. & J. 6 8,403.200 1891 to 190~ do do J. & J. 6 11,706,500 do do J. & J. 6 22,186,075 L899, 1900,'2,&'5 do do J. & J. 6 3,500,500 D&0.1889 to 1904 do do . . •• 4 6,204,975 1893 to '98 A. & O. Phlla., Townsend, W. & Co. 7 4,282,500 1908 do do J. & J. 6 300.000 1893 to 1912 1,226,000 5, 6 & 7 Various Pittsburg and New York. 1913 4 & 5 J. & J. New York, B'k of America. 2,17l:l,223 1912-1913 .••• Pittsb'rg and Philadelphia. 5 1,480,000 Dec. l, 1915 Pittsburir, Treasurer. J. & D. 4 3,734-,'i00 July 1, 1897 J. & J. Bos., MaverickN.Bk.orPtld 6 416,000 Sept. 1, 1907 do do M. & 8. 6 1,200.000 1891 to 1897 m'nthly Boston. Mav., Bk. & Port. 6 739,:'>00 July 1, 1912 do do J. & J. -4 727,000 Jan. 1, 1893 Providence. J. & J. 5 300,000 . July, 1900 4,000,000 5 & 6 g. J. & J. Boston, Prov. and London. July 1, 1906 5 g. J. & J. N. Y., N. CitvBank, &Prov. 1,500,000 Sept. 1, 1916 New York or London. 319 g M. & 8. 483,000 July 1, 1895 5 g. J. & J. Londonr....Morton, Rose & Co 1,397,250 June 1, 1899 rrovidence. 419 J. & D. 600,000 Julyl,'99& 1900 do J. & J. 5 506,000 ,ruly 1, 1892 J. & J. Providence, Am. Nat.Bank. 7 500,000 May 1, 1889 419 Various Boston and Providence. 18,438 Oct. 20, '89, '90 Providence. Vario ne 5 40,000 Julyl,1890to'99 New York, J. & J. 6 1,232,900 Jan. &Julv, 1900 •.•• . . ..•. ...• 6 100.000 July 1, 1906 &'08 419 J. & J. 2 ;-i4.000 Jao., 1889·1914, Treasurer. Richmond, J. & J. 6 2,14.13,l'-0~ 1904-1909 do do J. & J. 8 l, 179,700 July, 1914 to '21 do do J. & J. 5 1,478,550 do., Auditor's Office. 1920, '21 & '22 J. & J. 4 478,7:.!5 Jan. l,'89 to 1903 N. Y .• Union Trust Co. J. & J. 7 12ij,000 Feb. l, 1893 F. & A. New York and Rochester. 7 750,000 Jan. 1889 to 1902 do do Various 7 5:J4,000 Jan. l, 1903 N. Y., Union Trust Co. J. & J. 7 8,182,000 Jan. 1, 1905 do J. & J. 7 410,000 Aug. 1, 1912 do F. & A. 4 100,000 1890, redeem.'87 do J. & J. 3 150,000 6 & 7 Various N.Y.,Bk. Com &Bk. Repub. July,'89'91'93'94 2,526,000 •••• N.Y.,Na.t.Bk. ofCom.&Lon. 1895, 96, '98, '99 6 1,840,000 Jan.&June,1900 do do J. & J. 5 1,0·?4,000 190!-'03-'05 do do Various 4 913,o00 Juo.e 25, 1907 do do 3·65 2,1<40.100 A.pr.. 1908 & 1918 do do Va1ious 4 3,544,000 May 1, 1895 N.Y .• Bank Commerce. Various 6 555,000 Au~. 1, 1898 6 g. F. & A. N. Y., Nat. Bk. of Republic. 340,000 564,000 6 & 6 g. Various N.Y.,Nat. Bk. of Commerce Aug., 89,'93-'4•'6 6 g. Various N.Y.,B'kofCom.&8t.Louis. 18~U&Aprll1'92 1,70u,ooo 6 g. M.& N. N.Y.,Nat.BkotCom.&Lon. July 1, 1894 800.000 July 1, 1894 do do 6 g. M. & N. 900,000 1890, "95 & 1906 do do 5 & 6 M. & N. 4.65,000 6 ~- .J. & D. N. Y., Nat. B'k Commerce. Dec. 10, 1892 461,000 4 g. J. & D. N'.Y., Nat. B'kofCom.&Lon. June 1, 1905 9a0,000 6 .,;. J. & D. N.Y., B 'k of Com.&Bt.Louis. June 1, 1892 600,000 April 1,1905 6 g. A.. & O. N. Y., Nat. B'k Commerce. 1,900,000 F. & A. N. Y., Nat. Bk. Oommerce. Aug. 1, 1901 4 773,750 Aug. 1, 1903 do do F. & A. 6 90~,000 Net Debt, Tax p . $1.000 Personal Real Dec. :n,. State & City. Estate. Estate. Yea.re. $93,0U,951 $l4- 00 1885 .••. $1,168,443,137 $202.67.:$,866 9U,3!'.l5,ti31 21 60 217,0:27.221 1886 .•••.. l,2C3,94l,065 93,:; 00,581 21 60 2ft3, 148,~14 1887 .•••.. 1,~54,491.849 91,313,185 22 :.:0 250,623,552 1888 .... .. 1,302,8100.879 The Legislature passed a law in 1885 that the indebtedness should not exceed 10 per cent of the asses,;ed value of real estate, and this 10 ])er cent waB construed by the Court of Appeals not to include the bonds In tbe sinking fund ll8 a part of the debt. (V. 4.3, p. 41; V. 44, p. 204; V. 45, p. 86,541; V. 46. p. 60; V. 47, p. 21, 532.) Nertolk, Va.-Total funded debt June 30, 1887, was $?,'72.398. of "'hU'h &'1540,000 was for water; sinking fund appropriation for 18b7· 88, $9,264. The assessed valuations and tax raw ver $1,000 were: Personalty. Tax Rate. Real ERtate. Years. 18 $l,89iJ,ft50 1886 ........................... $12,307,131 18 1,739,630 1886 ........................... 11,963,450 lo 1,64t.8l0 1887 ........................... 12,094,205 -Popufatlon by U. 8. Census ill 1870, .19,229 : tn 1880. 21.966. Omaha.-Total funded debt Mav 1, 1888. $1.398,95u. AR&esi=ed valuatio{l in 1887-Personal property, $a,716,ti25; real estate, $12,7l' 8.l19; total, $16,014,744; tax rat.:, per $1,000, $46 50. A.sRei;ised valua• tion ts reruarkably low (treasurer says one-eilo{h~h of true valae). hence State taxes are levied on tame valu .. tion, tax rate appears high. whtoh explains the uudervaluation. Pateraon, N • .J.-J.<'ina.ulles are apparently in a sound condition. Floating debt March, 18!:i8, $258,000, .rne assessed valuations, tax rate pel' $1,000, &c., have been: Debt. Personalty. Tax Rate. Real Estate. Yeim1. $1,168.500 $3,816,500 $25 00 1884-~5 .... ..... $19,205,501 1,Hl7,0U0 25 00 3,9lii,863 1886-87•••••.••• !?0,467, 176 1,347,200 2.> 00 3,916,403 1887•88.... ..••. 20,405,428 -Population, !'>1,031 m 1880: 33,579 in 1870. Peoria, Ill.-Funded debt Dec. 31, 1887, $635,000; dE>duct water debt, $4f>U,00o; uet debt, $185,o00. Population, 29,2a~ in 1880: 22,849 in 1870: tn 1886 (estimated), 45,000. Pblladelphla.-Jan. 1, 1899, the funder\ debt was- $57.146,095, (against i70.970.042 in 1880), ot which $6,261,800 was water debt; 1bik1B11 funda88€ts (City, State and Gov. bonds at par, etc.), $M. l32.20D https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INTEREST. Rate. Ln the followinK t-A.ble the assessed value of real estate 18 near its cash value, and debt includes outstanding warrants. Personalty. Tex: Rate. De11t on Dec. 30. Real Estate. Yeara. 21 50 ----$586,988,097--187?-~ ••...••• $73,615,352 18 50 10,035,600 587,749,82~ 1884 . .. . ••..••• 64.131.362 18 50 10,307,64-4 601,001,971 l885 .• . . .••... 62,58~.679 18 50 10.619.325 619 .059.9~7 1886 •••.••. ... 5 •1,1340,046 18 50 3,149,665 644,063,374 1887 •• .• .. .... 58,77~,213 18 50 3,182.765 666,32i,799 1888 .•••. ···••• 57,146,095 Assessed valuations of -property for 1889 were: Full city property, $607,25~,349 (tax rate, $19 50); suburban property, $43,493,710 (tax rate, $1~ 3.:i): farm property. $18,755,505 (tax rate, $9 25). Population. L870. 674,022, against 847,170 in 1880. Plttsborg.-Total debt Jan. 31, 1888, was $13,203,4'23; net, $10,772, J5u. The assessed valuation in 188:1 was: Real property; $105,404,720; personal, only $1,838,258; tax rate, 1884, $16 per $1,000 Valuation of real estate in 1885, $108,530,608; personal, $3,000,000; tax ra.te. $13. Valuation of real estate in 1887-8, $132,266,000; personal, $2,-lt>-l,OO0; tax ratf', $18. Population, 156,389 in 1880; 86,076 1n 1~70. and on July 1, 1887 (estimated), 205,000. Portland, .IT.le.-The slllklng fund and available assets March 31," 18l:!8. were $.!46,652, not including $1,350,000 P. & Og. RR. bondt -E-ioce converted into $2,200,f>00 stock. Population in 1880, 33,810; 1887 (estimat.ed), 40,000. The assessed valuations, tax rate, &c., have ~n: Personal Rate of Tax Tot. Debt Sinking Real Property. per $1,000. Mar.31, Funds, &c.* Estate. Yea.rs. 1884-8:> .. $20,794,300 $12,014,435 $i0 50 $4,286,000 $106,408 162,986 4,285,500 21 00 11,759,525 18'.'.15-86 .• 21,208,000 167,627 3,942,500 21 00 11,862,200 1886-87.. 21,:'>71,000 146,652 3,437,500 21 00 11,901,540 ldl:!7-88.. 21,850,500 * These do not include the t!inki.ng funds for railroad loans. Providence, .R. 1.-Fioating debt Sept. 30, 1888, $1,030,729. The sinklng rum.I. ror 1..Jo1u1~ due m 189a i8 $~77,647; 1895·99, $1,053,124.1 1900, $42,~45; 1900-06·16, (Water loan), $-189,313. Sinking funds are invetiwd in the city's bonds and notes. Net exsense for water works i11 ytlar 1887·8 was $8,003. Population, 187 • 681904; 1885.t 118,070. The laws ot Rhodti C:tl1'... now limit the debts OI t,owns t,o i1 CU3e88ed valuation. n.ia CITY SECURITIES. 13 Subscribers -will conCer;a great"'favor by giving lmmedlate notice of' any error dJaeovered In these Tables. DESCRIPTION. Date of Bonds. ~'or explanations see notes on tirst page of tables. Size or ~~e. Bt. Paul, Minn.-Bnndf', $-5,000 due Feb., '90. 1860 to'7'd Various Bonds, $50,0000ct., '89; :j;t>O,t 011 Ol't., '95 .. . $L,000 do $100,000 May, •~8; $50.00 1 Nov., 99. 500&c. do $40, OJ Apt'., '99: $': =" ,OOfl Apr., 1904 1.000 do $10,000 Apr.,1903; $4!'i.OOO Aug., '04 1,000 .... 1,110 11 do $11 5,0CO Ap., 190 ➔; $95,000 Mar., '09 do $!6500019 ,3;$125,000 1914 . ...... 1.0<'0 do $225,000 Jan., '16; $~00,000 July, ' l!i 1886:7-8·9 1,000 1,000 do $ -'>5,!JOO Aug., 1900; $'l6.000 Juue, '07 500,&c. do to RR-., L. Rup. & M1s:1.& St. P. & Ollie .. d •) local imp.,'98,&C.park($100,000J'ly,'03) 1873 1,000 do of old Water co ....................•••.••. Balem, Mass.-City debt ($300.000 6~) .••...•••. Various. lOO&c. 100 &c. Water loa.I1, $75,000 due AprJl, 1898 .••.••.••. 1868-9 1,000 1878 do ••••.•••••••.••..•••.•••.•••..•..•••.. n .Francisco-Can. Pac. RR .. dro atlOO cou.(g.) 1864 500&c. Western Pacific RR., dr'n at 100, coup. (g.) . . 1865 500 &c. 1870 500 &c. School bonds ..•..••..••..••...•..•••.••..•••.••. 1874 500 &o. School bonds .••..••..••...•...••.•••.••..•••.••. Park rovement bonds ..••..•..•••.•••.•••• 1872 to'75 500&c. 500 &c. Hospita bonds .••..••...•..••..•••.••..•••.••. 1871 to'73 500 &c. 1874 Bouse of Correction bonds .••.•••..••..•••.••. City Hall construction .......•..••...•.•••..••. l875 to'76 500 &c. Montgomery Ave·(special tax) .••...•..••..••. 1873-74 Dupont Bt. (special) (Act March 4, 1876>. .••. 1876 1R7!l lOO&c. tJannah.. Ga.-Compromise bonds of 1879 .••. 1011 &c. 1883 Compromi~e bonds of 1883 ..•.......•....•..•. · ~. Mass.-.Bonda ($10,000 5¼s, 1904) .. 187t> to'8!'> Various. Bonds . •••.•.•.••..........•......••...•..•...... 1886to '88 1,000 1,000 rn-i,nqfield.MaRs.-W.loan$25/00y.'94-1902.o 1,000 Water loan ($775.000 a.re 7s. due 1903) ..•... c .... 1,000 Railroad loan, $20.000 due yearly ..•...•..••. foledo, 0.-General fund city bonds, coup ..•... 1875·io·•a7 Flnatlnir d >'bt refun lin!? bonds ..........•...... 1874·'77 Toledo & Woodville Railroad. coupon.... ••••. 1870 Water works ($3.000 only 68) ......•••.•...... '73,'74&79 .••. 'Bridge bonds (redeemable after 1893) . . • . . . . •. l8"3·'84 ..•. Worcester, M.-rnty, ($• 91,500 c., $1,391,900 r.) 1861 to '8!11500 &c. 8f'lwer deht ......••.••...•...•....••.......•... r 1870 to '88 500 &c. Water debt .•••.••..••...•..••...••..•..••..••. r J 870 to '88 500 &c. .. . .r 1888 f>OO &o. Pa.tk debt . .. . ......•.........•..•...•...•.. .... .... .... imf .... .... .... --- . .... Amount outstanding. When Pay'ble Where P~ble, and by om. Prillch>1.l-W.b.en Due. i263,125 Various N. Y. Chase National Bank. 1889, '90, '9 .J, '9'7 8 16:i,000 do 7 do 1889, '00, '95, '97 19 -'>,500 do do '98. '99. 1909, '04. 7 118,000 April, 1899 & 190-l 6 do do . 106,000 5 do do 1903, '04 '05&'06 7C:-.,OOO do 5 do 1903 & 1909 1,240.000 1913, '14 & 1915 5 do do 2,199,000 do do 1916, '17,'18, '19 419 4!ll,OOO do 4 do Aug.,1906,'07 •12 . 6 235,000 do do 189~ & 19 0 J ..&..J. 200,000 6 do do July, 1898 & 1908 160.000 8 Jan. 9, 1889 548,l'>OO 4&6 City Treasnry. Various t,o 1908 225,000 &. & o. 6 do do ApLl,1893 & 1898 do do 398.500 5 J. & J. July 1, 1904 161,000 7 g. J. & J. ~an F.&N.Y,, Laidlaw & Co. July 1, 1894: 87,000 7 g. M.&N. do do May 1, 1895 285,000 7 g. J. &D. do do Junel,1890 200,000 6 g. J & J. de do J'U, ~ 1894 475,000 6 g. J. & J. do do 18 7 1904. 210,000 6 g. M.&N. do do Nov.1, 1891 _150,000 do 7 g. .J. & J. do July 1, 1894 374,500 do do 6 g. July 1. 1899 1,579,000 {!) ··•rg. J. & J . San.F.& N. Y.,Laidlaw& Oo. 919,000 1896 3,306,000 N. Y., Eugene Kelly & Co. 5 Feb. 1, 1909 348,500 -J. do do 5 July 1, 1918 36!.f>OO Various Bostond:at. Seo~~ Bank Jan. 1, '.39 t,o 1900 5 414,000 4 Various Oct., 1889 to 1907 225,000 Various Bostond First National B'k. 7 1894to1902 1,200,000 6& 7 A. &O. o do 1903 & 1905 100,000 A. & o. do do 7 April 1889 to 1898 1,032.000 4to8 Various N. Y., Imp. & Trad. N. Bk. 1899 to 1917 296,000 6&8 Varion.s do do 1889-1892 432,000 7·3 M.&N. do do May4, 1900 1,000,000 6&8 Various do do 1893 to 1899 250.000 A.&O. do 5 do Oct. 1, 1913 1,88:i.400 4, 5 & 6 Various C.Treas.& Bost. Mchts.' Bk. Jan. 1, '89 to 1905 860,000 4,419,5 Various do do 1899 to 1908 8 02.:-· oo 312, 4,5,6 Various do do De:c. 1, '90 to 1918 ~00 000 4 A & ' l. do do A p ril 1 , 1 938 Real Personal Tax per Total Assets in Sink. Years. Estate. Property. $1,000. Debt. Funds, &c. 1883 .••• $90,143,400 $31,72.!,000 $1450 $9,9-U.188 $1,68l.400 1884.... 91,642,100 30,854,400 14 50 9,890,6-!8 1,843,785 1885.... 92,8b7 400 31,314,600 14. 50 9,5 68,188 l,4R8,328 1886 .••. 97.975.900 32,281,500 14 00 9,685,SU7 1,701,985 1887 ..•. P9.754.040 3-1,267,680 1450 9,767,616 1,8l5,8ll 1888 .••. 100,924,720 35,837.~40 1500 10,005,417 1,961,073 q_utn"Y, Ill.-Total funded debt Sept. 1, 18?,8. $17J2,300. against $1.:-,22,• 31 Julv 1, 1881. AESe1<sed Yaluati,,n in ltie-7 about $4,500,· -000 ruuclt below true value. Population in 1888 about 36,000. An annnal 1,1lnl<iD/l fu , d of $2:\,000 Is rapidly reducing the d-,bt. '.rhere ue also $35,400 5 per cents (M. & S.i due 1902. Richmond, Va.-Tota.1 debt Jan. 1, 1888, $:l,433 558. In 1687, real estate valuation, $::!3,9 , 0 .131; per., onal, $14.360,952; tax: rate per $1,000, $14.. ln 18!:l6, real estate. $33,517,807; p!)rsonal, $l4,:'>75,848: tax rate pflr $1,000, $14. In 1885, real estate, $32,347,803; personal, $13, nl,666: tax rate. $14. Population, 63,tiOO in 1880; 51,038 in 1870. The del>t is limited to 18 per cent of the asses · ed value or r eal estat~. Rochester.-Total funded debt, $5,'l54,000 J,lly, 1888. The bonds of Genesee Valley RR. loan, $12~,oou, are provided for by net receipts from a lease of said road to Erifl Railway. Population, 89.366 in 1880; 62,386 in 1870; in 1882, estimated, 105,000. Assessed valuation (60 per et. of true value), rate of tax, &c., have been: Real P ersonal Tax per$1,000 Funded Years. Estate. Property. in old Wards. Debt. 1883 .... $36,166,200 $1.817,200 27·65 $5,354,000 1884 .... 37.270,850 1,77~,100 32·22 5,2,,-1,000 1885 . . .. 38.563,020 2,389,050 30·98 5,:~99.000 1886 .... 72,171,975 3,l:!45,000 15·22 5,-159.000 18~7 .... 72,8€0. :-tOO 4,529,000 16·-l5 5.3 J9,000 1888 .... 78,504,025 4,108,000 9•91 to 16•38 ll.254,900 Jn 1888 real ebtatevalued at 80 p.c. Po i,ulationin 1888 allout 130,000. Rockland, Me.-Valuat'n of real and r ersonal estate, 188~, a.bout $3!900,000: tax rate, $26 per$1,000; 1886 valW:1,tions, $3,788,780; tax raw, $22 50 per :i,1,000; 1807, tax rate, $24. Population, 7,599 in 1881; 7,074 in 1870. St • .J' oseph, Mo.-Population in 1880, 32.431; in 1870. 19,565. June 30, H•l::-8, tllere were in addition to bonds given above $L3, 100 -ts and $ · 50 5s due in 1900, and the total fuuded debt was $.l,ti8tl,o00. -Bon•cd debt is rednred annually ¼ per ceut on va.Jnai.ton . The assessed valuation8 (in 1887 une-ha f of actual valuation) and t.ax rate per $1,000 for three years were as uelow : Real estate. Personal. Tax rate. 1883 •••••.••••..•..•••.•••.••• $7,586,050 $.3,678, 193 $2a ·oo 1884 .•••.••..•••••••.•••.••.•• 7,87J,I50 3,700,22~ 4:!·oo 1887 .•••.••...•..••..••..••••• '----15,000,0:10 - - - - ' 21 ·00 1888 .••...•..••...•..••..••... 12,500,00J 6,200,UOO 17·60 St. Lonle.-Population by the United States census in 1870 was 810,864, against 350,518 ID 1880; m l '01:57 est1ruated at 450,QOO. The oity and county were merged oy law in 1877 aud city 8.<!~umed the county bonds. $548,000 renewal bon 18, due 1900, are re•leemablf' tn 1!;90: $913,000, due 1902·h 05, are redeemable 1892· 18lJ5. In addition to tbe bonds as given in above table, there are the followiog: $ 5o,00u Cai-ondelet indebtedness th,, due lb!J.'.>, and :t,100,000 Fire De..,t. 6s, due 1895. · Al!sessed valu~tton of property and tax rate have been: Real Estate ,-Rate of ta.x per $1,000........ Bonded and Personal New New l1tuit Old Debt Years. Property. Limits. Increa:ied. Limits. in April. $22,507,000 1884. .•.•• . $211,48t ►,710 $ 5 00 $17 t>O 1885 .••••• 207,">26,( oo n oo .... .. 17 ,> o 2.t,016,000 1886 .••..• 214,4'27,• 90 5 00 $10 00 17 50 22,942,000 22,10:'t,OOO 1887 .••... 216,917,7.:!0 5 00 12 50 17 50 1888 .•.... 224,740,470 9 00 14 I O 15 00 22,0-15, •JOO -(V. 44, p. 586; V. 45, p. 26; v. 47 p. 383.) st. Paul, 1'1.lnn.-Total city bonaed d ebt Nov. 30, 1888, $6, t8q,ooo. Popula.tlOll ill lb70 was i2,:-soo; Ill 18b0, 41,49t-; .n 18d8 the lomtl esttruate of population was 187,759. Ai-sessed valuations of tax.able property (50 per cent cash value) and tax rate have been: Personal .Kate or Tax Total Years. Real Estate. Property, per $1,000. Deot. 181'<3 .••••••••••••••• $31,000,000 $12,000,000 ljlM l>O j $2,328,040 3,027,140 1884. ••••••. •••.• ••• 47,000,000 14,263,565 16 00 3,81 ,\ .640 1885................ 50,512,212 14,291,946 19 50 4,5:ll,0:'>7 18-16 ................ 08, ,.. 39,570 15,584,481 17 50 5,125,5 0 1887 .••.•••••••..••. 72,{'79,471 17,~96,37l 17 00 1888 ................ 9,-,474,750 lt<,025,250 18 50 6,188,00J -Y aluation of real estate is a.bout on6-haU'. of true value. -(V. 44, p. 473.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INTEREST. Rate. .... ·--· ... ..... --· .... .... --· 0 various .... .... t=F. .......... Salem, 1'Iass.-Tvtal debt Dec., 1888, $1,270,493, inclo.ding mun!• dpa1 loan $049,500; water loan, $623,500; trustfunds, mostly payable on demand, $97,493. The sinkin~ funds Dec., 1888, w~re $374,205, consi<1trng 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 1895 real estate valuation, $12,83L,300; pero1onal, &c., $12,234,830; total, $25,066.130; tax rate, $16 50. In l H86 Yaluation of real estate, $13, ~83,500 ; perilonal, $12,937,024; total1 $26,220,523; tax: rate, $15 50. In 1888, real estate, $13,773,600, ana personal &c., $111'-,601, 728; tax ra.te (including State, sohool, eto.), $16 00 San Franclsco.-Population. 233,959 in 1880; 149,473, in 1870. Tllti Montgomery Avenue and Dupont Street bonds are special issues char~•·able only on the assessment of property benefl.tted, and suits a.re in pro~est'I to determine their legal status. The decision ha& been in favor ol' the bondholdera, but the case was appealed to the U. 8. Suprt"llle Court and remains pendiog. Sinking funds on hand Oot. 5,1887, $1,020,080; net funded debt $1,209,920. .fhe following valua,tions are made by the city and county, the valuations by the State being d.1.tferent, but the tax rate below includes that for Sliate purposes: Total Realtv. Personalty. Tax Ra.tie. 1883•84 •..••• . •••.•••. $158,723,269 $62,272,5:J,t $18 9711884·% ···•····· .•••.. 16!,49,5,888 59,013,672 15 75 188.> ·86 ···········--·· 171,416,426 56,192,922 15 95 1886-•i7 ..•........ . .•• 175,409,145 54,741,864 15 71 1887-88... .. .. .••. . .•. 191,608,444 60,127,957 17 56 Savannah, Ga.-Total funded debt Jan, 1, 1883, $3,676,400. Sini.iu~ruud m 188 7 purchased and canceled $32,30J bonds, but no l.iond,. are drawn. Default was made on interest Nov. I, 1876, in oonsequence of yellow fever and non-collection of taxes, and compromtae bonds were issued on certain terms. ABSessoo value of real estate and tax rate each year have been a.a follows: In 1881, $10 500,000, $25; 1882, $L0,650,000, $30; 1883, $10,900,000, $30; in 1884, $12,500,000, $30; in 1885. $13.000,000, $2 L 25; in 1886, $13,400,000, $21 25: in lb87, $13,700,000, $21 25. Population in 1870, 28,235, against 30,709 in 1880. Somerville, 1'Iass.-Total debt, Jan 1, 1889, $860,500, of whtoh $!38. iOO wa.M water d~bt. The large reduction of debt In 1888 to May 1 ($6 .>2,5UO) w as accompliShed by applying entire sinld~ funds to it,e 11aywent.. Property valuation in 1882, $23,162,200; 1n 188a, $23,812,· 900; in 1884, $24,a31,100; in 1885, $25,907,700; in V386, $26,003,· 200. Tax. rate in 1886, $15 40; in :887, $14.80. In 1838 real estate waa $2o,48~,·wo; p ersonal, $2,274,800, and ta:x: rate, $14·00. Properi;y 18 a>:1s -:l8s ~d at full value. Population 29,992 in 1885; 14,685 in 1870. Sprlngtleld, 1'Ial!l8.-Total funded debt, Deo. 10, 1888, ,1,312,000 (againl:!li auout $2 .0tl7,3i~ in 1876); deduct water debt, $1,200,000·; net, :lill'l,OOu: cash assets, $106,997. The railroad debt falls due $:lU,OOo each year. There are $46,000 notes and $12,000 6s due ln 1889 and 1890 outstanding. Population 1n 1887 estimated at 40,000; 1870, 26,70li. Tax valuation and rates have been: Personal Tax rat.e Years. Real Estate. _property. per $1,000. 1881 ············-$23,795,920 $8,935,850 12 50 188~ . • • • . • • • ••••.. 25,084,420 9,198,258 12 50 1883 . ••• . • • • . • .... 25,676,800 9,260,459 12 50 l81H .•••..••••.••• 26,201,150 8,792,666 14 00 188:'> .•••..•..•.••. 26,969,800 8,827,966 12 80 1,.86 .•••.•••.•••.• 27,638,7d0 9,143,412 12 80 1887.. . ........... 28,566,280 9,416,384 13 80 -Valuation of real estate is about 75 per cent of true value. Toledo.-Total f11nded debt, Jan., 1888. was $3,142,700. Of thls t,ht, , 1..- .. l pa._ v able by special assessments was $25,700 . Sink. tuod asset.a. $109,50 ,. Iu aidition to bond~ as given above, thereare$29,000 ds, do.e 181:Jl and 1892, and $60,000 5s, due in 1895 and 1905. Taxable valudtlot.. (€0 per cent) 01 real estate, 1885, $21,733,240; personal, $d,157,060: total vaiuatio:t, $29,930,300; tax rate, $28per$1,000. Val· nation, 1~86. real estalie, $22,179,770: personal, $8,118,620; total val· uation. $30.29 :!,390: tax- rate. $:&8; 1887, real, $22,559,910; personal, $~.212,3~0 . total, $30,80:!,300; tax rate, $28 (oiry, $l4 50; school, $5 3 i; State, $2 90; county. $ ·'> 30). Population, 50,137 in 1880; 81.584 in 1870; in 1888, estimated, 73,000. Worcester, 1'Iase.-Total funded debt, .Jan. 1, 1889, $3,745,700, of wllicll $!:!O..:l,300 was water debt. Cash assets Dec. 1, 1887, $1,53-i,516, iuoludiug $1,014,659 in sinking fund. Population, 80,000, estimated Jan. 1, 1888, 58,291 in 1880, 41,105 in 1870. Tax valuation in 1882, $4i>.504,5L~; tax rate, $l7 40 per $l,OOO. In 1883, $48,570,335; tax rate, $l7 20. Ia 1884,$50,773,4.75: tax rata, $16 60. In 1885. !1152,714910: ca.xrate, $l8. In 1888, real, $50.33.3,350; personal, $14,164.2881 tax ra.tt1. $16. Property IM!sessed at actua.l value. T3X rate include, State and county taxes, l.llld is for current year in each ease. . .... ~ .... 14 INVESTORS' SUPPLEMENT. [VoL. XLVIII. Subscribers will confer a great Cavor by giving lmlllediate notice ot any error discovered In these •rabies. Bonds--Princi DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or Amount Rate per When Where Payable, and by pal, When Due• of Par Outstanding For explanation of column headings, &c., see notes of Stocks-Last Road. Bonds Value. on first page of tables. Cent. Payable Whom. Dividend. - ---- - 188~ £100 -- Aki. N. O. Texas~ Pac. Junc.-lat deb.,red. at 115.c' -· 2d debentures... . .•...•...............•.......•. c· ---· Ata. Gt. South'n.-lat mortgage .••..........•...•... c 290 Gen. M. redeem. at 110 June 1, '98, $20,000 p. m. 290 Albany~ Susq.-Stock, 7 p. c. 1ental D. & H. Canal. ~09 Albany City loan (sinking fund, 1 J'er ct. yearly)c 142 Consol. m., (guar. D. &H. endorse on bonds)c*&r 142 Allegheny Valtey-Generalmortiage (Riv. Div.) .. c* 132 Bonds to State Pa. (endorsed) d M., East ext .. c* 110 lat mort., East'n Exten., ~ar. bth Pa. RR ...... c• 110 Fundinj mcome bonds, with tra c guarantee. e 259 27 Amador ranch-- lat mortgage ...................... Asheville w Spartanburg_c_lat mortgage, gold ...•.. c 71 2d mort., !?;Old .......•• . ...................... . .... c . --· Atchison Ool. ~ Pacific-lat M.($16,000 p.m.)guar. 254 Atchison Jewell Oo. & West.-lat M., guar. C.B. U. P. 34 Atchis.m. Topeka & Santa Fe-Stock ..•........•..... 3,480 1st M., g •. ($15,000p.m.) Atch.towest bound.Kan. 471 Landfc. M.,g-.. ($7.500p.m.). not drawn .•..... ---372 5 p.c. ds.N.M.&S.P. coll. (dr. at 101) s.f. $34,250 8. F. 5% tds,plain (red. at 101) s. f. $37,000 yearly 4¼% s. f. bds. (dr'n at 100) s. f. $78,000 ...... c&r 206 6% s. f. secur'd, bds. (dr'n at 105) s.f.$123.0U0 o.tr ··-· Collateral trust bonds., gold (V. 44, p. 245) .... c&r ·--· .Notes secured by 2d M. for $10,000,000, &c ...... .... At. T. &S. Fein ( hie. (terminal) guar. $10,000,00l; Wioh. & S. W., 1st M~- ($15,0 00 p. m.).int. guar ... '"ii K. C. Top. & W.lst ., g. ($13,000 p.m.),rental gu 66 do do inc. bds., (£4,600 p.m J guar. 66 148 Pueblo & Ark. V., 1st mort., gold.} $14,000 p. m Pu. & A. V. 1st (& 2d on 148 rn.). guar ....... c* 144 K. C. Emp. & 80., 1st M, $8,0l 0 p. m., gd,. p.uar. 61 92 Cowley S. & Ft. Sm.. 1st, $8,000 p. m. g .. guar ... £100 1884 1878 $1,000 £100 1888 $100 i865 1,000 1876 1,000 1866 1,000 1870 100,000 1,000 1871 1874 100 &c. 1,000 1877 1885 1,.0 00 1887 1,000 1,000 1879 1,000 1879 100 i869 500 &c. 1870 500 &c. 1,000 1880 1,000 1880 1,000 1880 1881 l,000&c 1887 1,000&c 1888 1887 1872 1:000 1,000 1875 L875 1875 1:000 1,000 1878 1,000 1879 1879 1.000 ---· --- $7,128,000 A. & 0. Last paid April, 1887. April 1, 1907 6 2,232,000 6 J. &D. Last paitl Jan., 1887. June 1, 1907 1.714,000 g. .T. & J. N.Y.,Farm,L.& 'Ir.&Bos Jan. 1, 1908 £276,000 J. & D. London. Dec.1, 1927 $3,500,000 3¼ J. & J. N.Y.,Del. &Rud.Can.Co Jnn. 1, 1889 1,000,000 6 M.&N. do do 1895-'97 9,766,000 6 g.&7 A.. & 0. do do April 1. 1906 4,000,000 7·30 J. & J. N.Y.,Wins. Lanier & Co. March 1, 1896 2,100,000 5 Jan'ary H~rrisbur~, Treasury. 100,000 y'rly. 10,000,000 A. & 0. Philadelphia or London April 1, 1910 7 9,726,300 7 A.. & 0. . •••. . . . . . Oct. 1, 1894 6 g. J. & J. N. Y .. So. Pacific Co. 675,000 Jan. 1, 1907 6 g. A. & 0. N.Y., R.&Da11v., 2 Wall April 1, 1925 50'.>.000 50(\000 do do July 1, 1937 : g. J. & J. 4,070,000 ~--F. N.Y.U.P.Of.&Un.Tr.Co. May 1, 1905 542,000 .-F. N.Y.U.P.Of.&Un.Tr.Co. May 1, 1905 6 lg 75,000,000 Q.-F. N.Y.,Han.Bk.,Bost.&Ch Nov. 15, 1388 7,041,000 7 g. J. & J. Boston, N(?rth Nat. Bk. July 1, 1899 2,411,500 7 g. A. & O. do do Oct. 1, 190C 940,000 A. & 0. Boston, Boston Nat.B'k. April 1, 1909 5 3,441,000 5 M.& S. do do Se~t. 1, 1920 4,532,000 4¼ A. & O. Bost. Safe Dep. &Tr. Co. Oc . 1. 1920 14,277,000 6 J. & D. N. Y.,B'k of Com.& Bost. Dec. 1, 1911 5 g. F. &A. N.Y.,Kiddt,:r,P.,&Bost. Feb. 1, 1937 15,00",000 2,800,0 _, 0 M.&N. 6 ....... ... Nov. 1. 1891 5,503,000 5 g . J. & J "N.Y.,Kidder, P.,& Bost Ja,n. 1, 1937 412,000 7 g. J. & J. Boston, North Nat. Bk. July 1, 1902 7 g. ,r. & J. Boston, Everett N. Bk. July 1, 1905 854,000 7 g. M:. & s. 200.000 do do Mar. 1, 1906 1,633.000 7 g. J. & J. Bost.,N. Bk. of No.Am. July 1, 1905 2,082,000 7 j! . J. & J. do do July 1, 1905 532,000 7 g. J. & J. Boston, North Nat. Bk. July 1, 1909 7g .:\... & o. 798.000 do do Oct. 1, 1909 g I Alabama N. o. Texas & Paclfi.c .J"unction (Lllnlted).-( See system is virtually owned by Union Pacific, but operated by Mo. Pao .Hap Oinn. N.O.dT.P.J-This isan English Co. controlling the Vicksburg Stock, $1,522.400 (p,1,r $100), of which U. P. and C. P. own $920 300 · & Meridian, 142 miles; Vicksburg Shreveport & Pacific, 189 miles; N. 0. Rental Js $254,370 per annum. ' • & North Eastern, 195 miles; an~S:pa.nis~ Fort R'y, near New Orleana,.1: 3 A.tchison Sewell Co. & West.-Jamestown, Kan., to Burr Oak miles. It also controls th~ C_1D.CJ.ll:!1at1 New Orle~s & Texas Paci.tic Railway Co. (lessee of_the CmclD.Ilati Southern Railway). The management of the company 1s the same as ~hat of th~ Alabama Great Sou~hern RR. In Nov., 1887. Capt. Fnmc1a Pavy m Lvndon was appomted :receher of the English company in liquidation. The preferred or " A" shares are £1,500,000, having a preference for 6 per cent oumulative, and the deferred or "B" shares .£2,500,000; par value of all shares .£10 each. The first debentures are retieemable any time at 115, on six months' notice. The company holds the following securities, viz.: Oln. N. O. & Texas Pacific $532,000 stock; Vicksburg- & Meridian, 245,000 1st mortgage, $105,000 2d mortgage, $416,500 3d mortgage, 1,464,300 preferred stock and $363,000 common stock; of Vicksb. hrevep. & Pac. $3,692,000 1st mort., $1,931,000 incomes and $1,594,· 000 stock; of N. O. & North Eastern $4,900,000 1st mort. and $4,320,000 stock; N. O. Spanish Fort &L. RR. $300,000 1st mort. and $200,0IJ0 oom. stock; Cincinnati Southern, $532,000 stock. A loan of $600,000 was authorized in Sept, 1888, for the purchase of a majority of Vic Ks & Merld. 2d mort. bonds. (V. 45, p. 52, ,13o; v. 47, p. 2o6.> Kan., 34 miles. Under same auspices and control as Atchison Colorado & Pacific. Stock,$202,800, of which Central Bra.nch Union Pacific owns. $105 000. Rental is $34 030 o er annum. ' . ' A.tch1son Topeka & Santa Fe.-(See Maps.)-LTNE OF Ro.An.A. complete de~a1le<i; statement of the lme~ of road operated on Deo. 3~. 1887, was given m the CHR?NICLE, V. 46, p. 61~. The totals oe the different sy_stems are as follows. Atchison, 2,0?1 rmles; Southern Kansas, 935 m1le~-tot.al, poth sy,,tems, 3.(?16 miles; Sonora, 35~ miles; rO!),dS owne~ Jointly ~1th other comparnes (one-half of 229 miles -114 ~:rules); tota, 3,480 miles. The results on_a~l these systems are included m the Atch. Tvp. & ~- Fe report. In add1t10n to the above, the Atchison Co. owns exclusrv:ely t_he Gulf Col. & S. Fe R~, 1,022 miles, and is part o:wner of the Cal~orma Southern RR., _211 rmles, and the Atlantio & Pacific RR., 9~9 miles. Also o ~ entll'ely, or controls, t~e Chicago Santa Fe & Ca~ifor1da. Ry.,_498 miles, the St. Joseph St. L?UIS & Santa Fe ~R., 96 miles,. the Chica~!) Kansas & Western (a~.m Kansas), ~03 ~ilea, the St. Loma K~naa.s u1ty & C,>lorado RR., 61 IIll ies, and Cal1forma Central Ry .. 184 miles. Total of all other lines, 3,894 miles. The A.labam.a Great Southern.-(See Map Oinn. N. O. d T. P.)-From operations of these roads are, however, kept entir~ly distinct Wauhatchie, Tenn., to Meridian, Miss., 290 miles; leases, Wauhatcliie from those of the other systems and ar-1 not given 111 the Atchison's to Chattanooga, 5 miles total operated, 295 miles. The Alabama & reports. Grand total owned and controlled, 7,374 miles The California Chattanooga RR. made default Jan. 1, 1871, and road was sold under fore- ~~!~tl~tfcv:sp:crrco::i_~ route to the Pacific coast at San Diego, via closure Jan. 22, 1877. Present company organized Nov. 30, 1877, and is controlled by an English compan·y of the rnme title owning all tb.PORGANrz.A.TION, LE.A.SES, &c.-The A. T. & s. Fe. Co. was incoroorated stock of the American Co. The English company has £134,000 deben- March 3, 1863. The main line of 471 miles was opened Dec. 23, 1872. tures exchangeable for genl. mort. bo'nds, and capital stock-common Th t whole system outside of the main line is nomina.lly under different ("B" shares), £1,566,000, and pref. 6 p. c. cumulative for six year, co; porationa, of which the ownership is vested in the A. T. &S. F., and ("A" shares), £670,070; par£ 10. In 1888 for arrears of interest o -i th, roads usually leasc::d to that Co. The Southern Kansas and the preferr£d Rtock 4 per cent cuttflcates were autb.orizLd, redeemable I y :t~~~:a systems are not leased, but are controlled by ownership of the sinkg. fund in tln years (s<.e also Crrno:NICLE. V. 47, p. 255.) Tt.e genl. mortg. for £1,160,000 was author'. zed in 18b8 to provide for equipment, In Aug., 1884, an agreement was made for the control of thA Mojave improvements, &c., E:Ufficient bonds being reserved to retire pri~r mort Division of the Southern Pa.cine and a right for traffic over the Soutnern gage bonds and debentures. V. 46, p. 608. For the half-year endiu~ Pacific to San Francisco. The Atlantic & P,teitlc lat mortgage bonds June 30, 1888, g1oss receipts were $735,778; net, $1.01,310, against are guaranteed one half each, seve1·ally but not jointly, by tlie Atchison $180,456 in 1887. Gross earnings in 1887, $1,575,~93; net over and Sau Francisco companies. See Atl. & Pac. and St. L. & San Fran. 1n expenses and taxes. $474,361. Gross in 1886, $1,215,195; net, $276,- this SUPPLEMENT. '{98. (V. 4.6, p. 608; V. 47, p. 255, 285, 531.) 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 stock, A.lbany & Susquehanna.-(See Map Del.~ H ,11,d. Oanal)-Owns $8,000,000 in all, and the Atchison agreed to •· assume the bonded inAlbany, N. Y., to Binghamton, N. Y., 142 miles; branches Duanesburg debtedness" of the Gulf Company. See CHRONICLE, v. 42, p. 6:30; June., N. Y., to Schen~ctady, 14 nlli.es; Cobleskill, N. Y., to Cherry Val"=· le~, 21 miles; operates Lackaw. & Susqueh. RR., 22 miles; East Glen- 48,~ 6& STOCK AND BONDS-The stock has been increased from time to time ville to Coons, 10 miles; total operated, 209 miles. Leased for 150 years. from Feb., 1870, to Delaware & Hudson Canal Co.; rental, 7 per cent to present figures. for the acquisition of the auxiliary lines and by on stock and interest on bonds. Additions and betterments charged to way of stor•li divid '-'nds. Dividends have been-in 1879, 3 per cent; from 1882 to 1885, inlessors, and cost made part of investment. The conaol. mort. is for $10,· in 1880, 8¼; in 1881, 6 cash and 50 stock; 1 000,000, of which $3,000,000 are 7 per cents, currency; the principal of olusive, 6 per cent; in 1887, 614; m 1888, 5 4; in 1889 passed February the 6s. is also payable in "lawful money," buttheinterestingold. Gross dividend. The range in prices of stock in Boston was-in le81, 921» earnings in '87-8, $3,389.~00; net, $1,413,!'J80; surplus ovtr interest, 15414; in 188!?, 78fsW961s; i.1i 1883, 78W8614; in lae4, 5912'@80; in rental (including dividends), &c., $437,647. (V. 45, p. 180,614,855; 1885, 6314@89-½a; in 1886, 79 7a1H00; in 1887, 9018 ~ 1197a; in 1888, 531411>9958; in 1889 to Jan. 18, inclusive, 521!s1i>5814. V. 46, p, 228,481,610; V. 47, p. 14<', 776.) In addition to bonds in table above, there are outstanding other small Allegheny Valley.-Owns from Pittsburg, to Oil City, Pa., 132 issues as follows: Consol. mort. bonds, 7 per Ctlnt gold, due April, 1903, miles; branches-Red Bank, Pa., to Driftwood, 110 miles: others, 17 $10E1,000 and $194,000 Sumner Co. RK bonds, drawn at 110, due m,; total operated, 259 m. Stook, $2,166,500; par, $50. Of the income Sept. 1, J.910, int. M. & S., an obligation of the Southern Kansas RR. Co. bonds the Penn. RR., No. Central and Phila. & Erie hold $6,087,000, the Such bonds as are held in the company's treasury, or leased line bonds interest on which was paid altogether in bond scrip. The ooupons of held as collateral for any of its own bonds given above, a.re not inoluded guaranteed bonds held by the Pennsylvania Railroad for advances tn the above a.mounts outstanding. amount to $6,283,935. The Penn. RR. owns $1,250,000 stock and The 5 per CP,nt bonds, due April 1. 1909, are secured by the N. Mex. $5,510,000 funding 7 per cent bonds. In May, 1884, receivers were & So. Pae. 1st mort. 7s issued on road from New Mexico St ate line to ap.pointed at the instance of the Penn. and other railroads as plaintiffs. San Marcial and branch, 372 miles, Smts are pending. The sinking fund 5 per cent bonds due Sept. 1, 1920, are plain bonds From January 1 to Nov. 30 in 1888 (11 months) gross earnings were (not mortgage) and partly secured by deposit of $630,000 plain bonds $1,9Hi,421, against$1,850,060in'87; net, $824,761, against $721,043. of Kansas u1ty Topeka & Western RR. Sinking Fund is 1 per cent per In 1887 gross earnings were $2,029,108; net, $797,76!:I; deficit under annum, with which bonds are drawn at 101. The 4¼ per cents due October, 1920, have $4,650.000 of the 6 per charges, $3_97,46:3. In 1886, gross, $1,812:729; ~et, $681,230: illterest, cent mortgage bonds of the Rio Gr. Mex. & Pac. and $500,000 of the $1,115,604, detl.c1t, $432,384.- ( V. 45,p. 79:t,986, V. 46, p. 480.) Rio Gr. & El Paao roads as security, the sink. fd. beino- l¼ p. ct. per an- . Amador Branch.-Galt, Cal., to Ione, Cal., 27 miles. Leased till nmn, rising to 312 by 1910, with wWch bonds are bought or drawn at par; Nov. 1, 1890, to Cent. Pacific, bt1t in Nov., 1886, new lease to Southern r~istered oonds for $5,000 issued for coupon bonds, and 1:1ire not rePaoifl.c was made; rental $4'8,000 per annum. Stock, $675,000. Earn- deelllable till after coupons. ings in 1887, $52,819 gross and $25,588 net. In 1886 gross earnings The 6 per cent bonds due Dec. 1, 1911, have as security 1st or 2d mort. $39,448; net, $13,124. Leland Stanford, Pres't, San Francisco. bonds of a number of the proprietary or controlled railroad.a, at not A.shev1lle & Spartanburg-( See Map Richmond & W. P. Te1•m).-· over $25,000 per mile. dep,>sittd in trust as collateral; they are reFrom Spartanburg, S. c., to Asheville, .N. C., 71 miles. Formerly deemed at 105 by the sinking fund, which is 1 p. c. ($123,0 10) per anSpartanburg & Asheville; sold in foreclosure A.pril, 1881, and re01- num till 1891 and 2 p. c. thereaf1,er; re 00 • oonds for $5,000 issued for p;anized. Stock $1,050,000; par $100. Controlled by Rich. & W. Point coupon bonds cannot be redeemed till afGer coupon bonds. V.46, p. 386. Tile collateral trust bonds of '87 are direct bonds of the Awn1son Co. Terminal, which ownM $1,04'7,981 ·stock and $215,000 2d mortgage bonds. fn year ending June 30, 1887, total fo.come was $52,840; ag'st which are deposited in trust the bonds of branch lines oonstructed in California and Colorado, not eK.ceedin~ $25.000 per mile. Bost. Sa.fa deficit under operating expenses an.a taxes, $21,585. Dep. & •.rrust Co., trustee. See V. 44, p. 245; V. 46, p. 385; V. 4 7, p. 326. The Wichita & Western, Wichita to Collison, Kan., 100 miles, is owned A.tchlson Oolorado & PacUlc.-Waterville, Kan .• to Washington Ka.n., 20 miles; Greenleaf, Kan., to Logan, Kan., 155 miles; Logan to Joimly with the St. Louis & San Fran., but bonds are not guaranteed. The Kingman Pratt & West. 8.8.. bonds are gua,ranteed. by the w. & Lenora, Kan., 25 miles; Downs, Kan., to Ball City. Kan., 24 miles; Ynma, Kan., to Warwick, 31 miles; total, 254 miles. The road forms an exten w.: the road is an txliension from King.nan tow.i.r,ls Dod~e City. The Leav. Top. & So. RR. bonds at 4 per cent are guaranteed one-halt slon of the -Central Branch Union Pacific, which l eased it in 1879 for 25 years, and gua.rru.,teed the bonds. The road is controlled, and the whole by the A. T. &S. Fe, and oue-half by the Union Pacific. 1 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis v. JANUARY, RAILROAD STOCKS .AND BONDS. 1889.] I~ Sub■crlber8 -will con:f'er a great f'avor by giving lnunedlate notice ot any error dl■covered In these Table■• Bonds-Prlnd DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or When Due. Amount Rate per When Where Payable, and by pal, par For explanation of column headings, &c., see notes of of. Stocks-Last on :first page of tables. Road. Bonds Value. Outstanding Cent. Pay'ble Whom. Dividend. --.- --- - - A. T.dtS.F. ( Oon.)-Mar.&McP .,lst,$7,000 p .m.,g.,gu. 99 1879 $1,"•0 Flor.El Dor.&W.Val., lst,g.($10,000 p. m .), int.gu. 73 1877 l, •JUO 1,000 45 1884 Wichita & Western-1st mortgage coup --········ Kin,manPratt &West.,lst,g.($15.000p.m ) ... c* 79 Leav. op.&S.W.-lstm.,Igguar.byAt.&12byUn.P. 46 iss2 1:000 N. Mex. & So. Pac.-lst, g., ($15,000 p. m.). guar. ~72 1879 1,000 Sonora, 1st mort., $20,000 p. m gold, int. guar ... 262 1880 1.000 1,000 Cal.80.,lstM ,$10,000 p.m .. g.,gn.,s.r.dr'natl12c• 210 18B6 1,000 Income bonds (non•cumulative) •.... . ........••. . 210 1886 Chio. Kan. & West., 1st, g, guar. ($14,000 p. m.)c~ 911 1886 100 &c. do mo. bds .. non-cum.($7,000 p. m.) .o* 911 1886 100 &o. Cbic.S.Fe&Cal.,lst <&2d M.on 90m.), g, guar.c•&r 350 1887 l,OOO&o 1,000 Chio.& St. Louis-1st IA. (,Sl0,000 p. m.) ...... -. 143 1885 80. Kan.-K.C. Law. & So., lstM. ($16,000 p.m.). 185 1879 500 &c. 1,000 Bo.Kan.& West.-lst,(s.f.$31,037y'rlydr.at 110) 139 1880 Ottawa & Burlington RR.-lst m. $12,000 p. m. 42 1881 1.000 B. Kan.(Gulf Div.)_:..lst. g'd,gnar.($16,000) p.m.o.. 271 1886 100 &c. Bo. Kans. in Texas, 1st M.($L6,000 p.m ),g., guar. 100 1886 100 &o. S. Kan. Income bonds (not oum.)$!,000 p. mile) 8!2 1886 100 &c. 100 Atlanta& 0harlotte.--Stock(5 p.c.rent'l Rich.& Dan.) 269 1,000 Pref. mort., redeemable .. ---.~--· .. ---·-· .. ····-··· 2651g i877 Mortgage bonds._ ..•..• ___ •.••.. _... __ .......•..••. 2651,; 1877 1,000 1880 500 Income bonds (not cumulative), uar ........... r Atlanta re Florida-1st mort. ($15,0 0 p.m.). ··---·c io.i 1887 ·ioo Atlanta cl West Point-StocK ..•.. .......... . ... _... . . 87 Debenture certificates, redeemabl~ after 1891 .... .... iss·1 Atlantic Atlanta & Gt. W.--lst M.($12,000 p.m.,)g.o• 1888 1~000 1,000 Atlantic <ft Danville-1st mort. gold, $16.000 p.m.o"' io5 1887 1,000 Atlantic& Pac.-lat M. W.D.,guar. g.(red. at105) ..c ... 560 1887 ],000 2d M., guar., g., (s. f. dr'nart.Mcb.l, '90 at105).c• 560 18~7 50 &o. Inoomebds., non-oum'tlve, w. D. ($18,750p.m.)o* 640 1880 1st RR. & land gr. bonds on Cent. & Mo. Div .... c* .... 1871 500&0. let land fant bonds on Central Div .. cum ..... o* 112 1871 500 &o. 1,000 Income b s., Cent. Div., non-cum. ($18,750 p. m.)o• 112 1882 3 Interest on the Sonora RR. in Mex. (262 miles) 1st M. bonds is guaranteed; these bonds are at $20,000 per mile, of which $5,000 per mile are owned bv the A. T. & S. F . Co. The California. Southern let mortg. bonds are guaranteed (by endorsement on tbe bonds) as per t,be agreement or reorganization for that company made in '?..885. Thfl third coupon on the income bonds was paid September, 1888, and the second March, of '1888. Sinking fund $25,000 per year retires the first mortgage bonds atl12. The Chicago K ansas & Western stock ($10,000 per mile) is held by the A. T. & S. Fe, and the firsli 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 in V. 43, p. 59, V. 4!, p. 24n. The roads covered by these bonds are about 903 miles of branch lines in Kansas constructed in '86 and '87. Report of '87, V. 46, p.608. The Chicago Sant a Fe & California R.R. forms the connecting line from Kan. City to Chicago, about 433 m ., including Chic. & St. L . (purchased) 90 m. Its bonds, ($35,000 perm.) are guaranteed by the Atchison, and are a first lien on all but 89 m., on which the Chio. & tit. L. bon" s have a. prior lien; bo:ads are held to retire the Chio. & St. L. bonds at maturity, but these latter cover also 5::l m., not included in ~he C. S. F . & f'. mort. The capital stock is $15,000,000. Trustee of mortgage is Boston Safe Deposit & Trust ('o. See V. 44, p. 148. Tile Atchison Topeka & Santa Fo in Chicago is the title of th~ corporation owning the terminal property there, and its stock is $5,000,000. The Southern Kansas Gulf Division and the Southern Kansas in Texas first mortgage honds were issued as per circulars in V. 42, p. 462, V. 43, p. 431. The bonds are guaranteed, principal ll.nd 1nterest1 by the Atchison Topeka & Santa Fe. The Gulf Division bonds cover tne road from Arkansas City south through Indian Territory towards Denison, and also the branch from Kiowa on the Kansas border southerly to Wolf Creek and the Texas border (in the Panhandle). The Southern Kansas R-1ilroad in Texas was organized to build that part of the line in. Texas, and on both lines the bonds are at $16,000 per mile, guaranteed by Atchison. The income bonds are a charge against Lhe entire mileage (842 miles) of the Bo. Kansas. In November, '88, the quarterly dividend on Atchis'n stock was reduced to 12 of 1 p. c., and tile oomp3.oy requirmg m<>ney to pay fioatln~ debt and to finish up its new lines in working order, the $l0.000,000 notes were authorized, secured by 2d M. on the main line in Kansas and by deposit of the stock of the Chic. SantaFe&Cal. and terminal companies. $7,000,000 or tbese to be issued as needed. The mort. can be discharKed whenever the notes are paid off-at any time.-(V. 47, p. 472, 501.) LAND GRANT.-The lands are practically sold out. No sales in 18 87. Unpaid land contracts, and interest, Dec. 31, 1887,$814,123. OPERATIONS, FINANCES, &c.-From .Jan. 1 to Nov. 30 in 1888 (11 mos.), gross earnings were $14,260,107 on 3,025 miles, a~ainst $16,· 965,412 on 2,942 miles in 1887; net, $4,6H,051, against $7,928,'l36. The report for 1887 was in the CHRONICLE, V. 46, pp. 607 and 610. Earnings and operations and mcome account were as follows, these statistics embracing the At. Top. & 8. Fe and South. Kan. systems com• bined, but nothing of the Sonora, Atlantic & Paoitl.o, or roads owned jointly, although the iutere!t on Sonora bonds is deducted here : OPERATIONS .A.ND FISCAL RESULTS. 1887. 3,016 1885. 2,397 $ Passenger .......... _. ........... 3,889,411 Freight...... _..... ······-··-·· .. 10,873,621 Mail t-xpress, &o·--···-··-···-·· 808,363 Gross earnings ....... -· · ·--···-· lo,571,395 Total operating expenses.. 8,314,967 Net earnings .• ___ ..... _....... _. 7,"56,4~8 P. ct. of op. expenses to earns.. 53·-!0 INCOME ACCOUNT. 1885. ReceiptsNet earningB .. -·······-· ······-· $7,256,428 28,012 Rentals··--· ............ •--·-··-149,743 Other receipts" .......•...•..•... 180,188 From land grant trusts .••....•. Total inoome ·--··--····-··-·· $7,61.4,371 1886. 2,526 $ 4,026,004 11,100,967 857,336 15,984,307 8.613 .911 7,:no,396 53·89 5,136,652 12,248,343 1,076.871 18,461,366 10,408,4Mi 8,0.J~,\Hl 56·38 1886. $7,370,396 33,785 62 :~,859 170,633 $8,198,673 1887. $3,052,911 29,953 751,153 169,487 $9,00:J,504 $50,500 Rentals and• miscellaneous .••••• Int.onAt.'f.&8. F.andSo. K. bds 1,980,664 854,930 Interest paid as ren taL •••.• _... Interest on land bonds .... __ •... l ·0,188 283,500 Interest on Sonora bonds ...... . Int.onLeav. To &So.W. bonds. Dividends ...... _................ . 3,4i·.;;786 (6) Rate of dividend ...... _........ . 299,525 Sinking funds._ ........ _........ . 46,093 P&id to other roads .. --···-·--·-· Total disbursements. __ ... _•. $7,110,186 $504.,185 Balance, surplus t. ... ·-········· $20,400 2,004,679 829,499 170,633 283,500 27.600 3,738.478 (6) 311,340 73,227 $7,459,356 $739,317 $15,300 2,200,406 859,881 169,487 283,500 27,600 4,474.725 (612) 303,9 .'.>5 257,i>77 Milesoper. At. T.&S.Fe-S. Kan Earnings- Disbursements- $ $8.592,23~ $411,266 ... Includes net land receipts Southern Kansas Rail way Co., sundry profits, and balance of general interest account. t This surplus does not include the profits of the and department. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $713,000 775,000 71:n,000 500,000 1,380,000 4,425,000 4,050,000 2,081,000 3,491,000 13,281,000 6,37!=1,000 15,350,000 1,500,000 2,940,000 1,605,000 noo,ooo 4,336,000 1,583,0001 1,480,000 1,700,000 500.000 4,250,000 750,000 1,550,0 0 1,232,200 1,232,200 3,000,000 1.595.000 17,573.000 5,600,000 12,000,000 1,189,905 796,629 l,Sl2::l.OOO 7 7 6 6 4 7 7 6 6 5 -- g. A. & 0 Bost., North Nat. B'k. Oct. 1, 1909 g. A. & O· Bo&ton,Nat. B. No. Am. Aug. 1, 1907 g. g. g. g. g. (S ~ g. 6 7 6 5 g. 5 g. 6 21i! 7 7 6 6 g. 3 6 6 g. 6 g. 4 g. 66 g. 6 6 6 J. &J do do J. & J. do do .J. & .J. Boston, .Am.L'n&Tr.Co. A.. & o. Boston,Everett Nat.Bk. .J. & J. Boston, Nat.Revere Bk. J. & J. Bos., Mav. Nat. Bank. M.& 8. 3d ooup. paid Sept.,'88. J. &D. Boston, Boston Nat.Bk. Mayl None paid. .J & J. N.Y.Han.Bk. Bos.&Lon. M. & S. N.Y.,Farm's L. & T. Co. A. & O. Boston, Union Nat. Bk. J. & J. .do do A. & O. do do M.& S. Boston, Boston Nat.Bk. M.& S. do do )fay : None paid. M.& 8. N.Y.Cent. Tr.Co.,54 Wall A. &O . do do .J. & J. do do A.. & o. do do J. & J. N. Y. Cent. Tr. and At. J. & .J. Atlanta, Ga., atTreas'y . .J. & J. do do J. & J. N. Y.,Mer. Tr. Co. & At. A. & 0. N.Y.,Green & Bateman. J. & J. N. Y., Mercan' Trust C\J. do do & S. Boston. A.. & 0. M.&N. N.Y.,Bt. L. & S.F.RR.Of. do do At Mat. Boston. J. & D. lM. Jan.1,1914 July 1, 1916 July 1, 1912 April 1, 1909 Jan.1, 1910 Jan 1, 1926 March 1, 1926 June 1, 1926 June 1, 1926 Jan. 1, 1937 Mar. 1, 1915 Apr. 1, 1909 Jan. 1, 1910 April 1, 1909 Sept. 1, 1926 Mar.1, 1927 July 1, 1927 Sept. 6. 1888 April 1, 1897 Jan. 1, 1907 April 1, 1900 July I, 1927 .July 14, 1888 July, 1891 .Jnly 1, 1918 Oct. 1, 1917 Jan. 1, 1937 Sept. 1, 1907 Oct. 1, 1910 Nov. 1, 1891 Nov., 1901 June 1, 1922 -( v. 46, p. 102. 133, 319, 353, 381, 385, 386,418, 573,595, 60'2', 608, 610,771; v. 47, p, 326,327, 3'>2, 410, 472, 499, 501, 624,663, 708; v. 48, p. 66.) A.tlanta & Charlotte A.Ir Ltne.-Owns from Charlotte, N. C., to Atlanta, Ga., 269 miles. The Richmond & Atlanta Air-Line was sold under foreclosure Dec. 5, 1876, and the existing corporation was formed Feb. 27, 1877. On March 26, 1881, tne road was leased to the Rich. & Danv. for 99 years at a rental of $462,000 per year, equal to the interest on debt and 5 per cent on stock; if gross earnings of A. & 0. A. L. exceed $1,500,000, dividends to be 6 per cent ; and if they exceed $2,500,000, 7 per cent. Due R. & D. for betterments Sept. 30, 1888, $1,046,809. Atlanta & Florlda.-Owns from Atlanta, southerly to F0rt Va'ley Ga., o , Cent. Ga. R.R, 10! mlles; extension ro tidewater projected. This is the Atlanta & Hawkinsville incorporated in 1886, name having been changed in 1887. Constructed by Georgia Imr,rovement Co., which received$ t5,000 bonds an<l $10,000 stoc1r per mile. Trustee or mortgalfe for $2,880,000 is Central Trust Co. Btook outstanding, $1,260,uOO . A.tlanta & West Point.-Owns from East Point, Ga.., to West Point, Ga .• 80 miles; leased, 612 miles; total operated, 8612 miles. In April, 1881, a controlling interest in the stock was purchased for the Central Georgia, and a stock dividend of 100 per cent was afterward declared in debenture certificates. Any m<>rtgage issued must be subor! dinate in lien to the<1e certificates. Gross earn's in 1886-87, $394,640; net. $160,586; surplus over dividends and interest, $12,724; in 1887-88, gross, $42-1,287; net, $138,334: surplus over fixed charges, $64,403; dividends paid t6 per cent), $73,932. (V. 45, p. 142.) Atlantic Atlanta & Great Wf'stern. -(See Map).-Projeoted from Atlanta to Savannall, Ga., 250 m . Located 80 m., and final surveys of balance now being made. Contrnct for construction of line to be let in latter part or 1888. The mortgage is for $3,0001000, trustee, Mercantile Trust Co. Stock is $1,500,000; par $100. President, George T. Fry. Atlanta, Ga. (V. 47, p . 226, 287, 381.) Atlantic & Danvllle.-In progr3ss from Not folk to Danville, Va., there to connect with the Richmond & Danville. In operation-Claremont to Durand, Va., 57 miles, and Norfolk to Belfield, 75 miles, and branches, 8 miles. The towns subscribed to capital stock. Stock author• ized iij $2,500.000; outstanding, $800,500; par, $50. (V. 47, p. 326, 74.4.J Atlantic & PaclO.c.-Thls corporation was chartered by Aot 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 mile3), 1eased by this Co. in 1884 lrom the Southern Pacific of Cal. The Cal. Southern gives a throu~h route to San Diego on the Pacific coast. It leases al~o A. & P . .Junction to Albuquerque, N. M., 13 miles; total operated, 819 m. The Central Divis10n additional, from Seneca, Mo.,to Sapulpa in the Indian Territory, 112 m.,is operated by the St. Louis & San Fran. Railway Co. The let mortg. bonds due in 1937 are guaranteed severally tbut not iointly) by the Atchison and St. Louis & San Fran., ea.oil oomp'.l.ny guar• anteeing one-halt of each bond. They are redeemable at any time at 105. The 2d m 1rtg. bonds have same guarantee as at>ove O.rst mortg. the sinkiog fund is $100,000 per year begtnning March, 1890. and if not purchasable. bonds may be drawn at 105. Stock authorized is $100,000,000, and issued $74,810,300 (par $100), ot which $51,302,600 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 classed thus: Western Div., com. stock, $54,750,000; Cent. and Mo. divs., com. stock $8,665,300; pref.. $11,395,000. The old pref. stock has no preference over the A. & P. Western Division stock. The Southern Paoifl.o sold the 242 miles of roa,d from Mojave to The Needles, on the Colorado River, to the A. & P. Company for $7,271.100, payable in A. & P. 1st mortgage bonds, issued on said 242 miles. to a mount of $6,059,250 and $1,211,850 in cash. Until clear title to this piece of ro1,d is given, the A. & P. takes possession and pays 6 per 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 lif!.eS either on a milea[e basis or at 3 per cent per annum on $40,000 per mile. See V. 39, p. 20i:s; 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. upwards of 18,000,000 acres in New Mexico and Arizona have been earned by construction, and in the Indian Territory 2,600,000 acres more, the best of these lands being weli adapted for grazing. The proceeds of sales of the ctJmpany's lands have so far been applied to payment of interest on A. & P. bonds or the lands have been pledged and oonve,ed in trust to the Atchison and San Francisco companies, and nearly 6,000,000 acres have b een so disposed of. For statement as to land sales, &c., up to Jan. 1, 1887, see CHRONICLE, V. 44, p. 751. A map Of the land grant was published in the CHRONICLE, v. 36, p. 468. Gross earniogs lil '87 were $2,639,395; net, $29,743; rebate received. $150,866; rentals pild, $i36,236; interest, $640.321; deficit for year. $595,977. In 1886, gross, $1,624,649; deficit undel' operating expenses, $41,304. (V. 46,p. 288,60\J, 801; V. 47, p. 80,326; V. 48, p. 37.J 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 yea.rs, August 5, 1853, at a rental equal to bond interest and 6 per cent on stock. The Grand Trunk RR. MAP OF THE TOPEKA ATCHISON, AND SANTA FE R. R. .EAST.ERN SECTION. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis oHrunilton Treasure City 0 V A D Patterson.o A o ReveWe MAP OF THE ATCHISON, TOPEKA AND SANTA FE R. R. WESTERN SECTION, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ 0 ~ Fron tenu, 1 s. Ca.mien Ojo Oaliente en&'f'.6Jltul'a O C p Xopt.ezuma https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ... 11) § 00 ~ ~ ~ oo · ~~ ~ ~ ~ ~ ~ MAP OF TH E t ATLANTIC, ATLANTA -AND- \.) GREAT WESTERN RAILROAD & CONNECTIONS. Beduoed, SoaZe, 0 ~ ' ~ ~ t::I ~ JANUARY, 1889. j RAILROAD STOCKS AND BONDS. 19 Subserlbers -wlll conCer a great Cavor by giving lm10edlate notice oC any error discovered In these Tables. I r•nd,-Prmol- INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or pal.When Due. Amount For explanation of column headings, &c., see notes of Rate per When Where Payable, and by Stocks-Last of ?a~;e. Outstanding Cent. Payable on first page of tables. Whom. Dividend. Road. Bonds Atlantic & St. Latcrence.-Stock, 6% rental G'd Tr'k 151 Augiisia <f: Savannah-Stock, 7% rental Cent. Ga. 53 Bald, Eagle Vatley-Gen'l mort .. (s. f. clrn. at 100) ... r 80 B.:iltimore ct Ohio-Stock. Last div. May, '37 ...... 1,774 1st and 2d tn·ef. stock, cum.,$3,000,000is 1st pref. 1,7H Loan due in 1880, extendecl.. .................... Loan, 1853, extended in 1885, ~olu ............... do 1870, sink. fund £16,000 yearly, not dl''n 379 City loan. 1855-'90, sink. fund, no t d rawn ........ Mort. 1872, sink. fund, £12,000 semi-annually ... 42i Mort. 1874, sink. fund, £9,000 semi-annually .... 421 Consolidated mortgage (for $29,600,000), gold. c* 444 Bond to Ci ·y Baltimore {payable$40,000y'lvL. .. Loan,- 1877, (a. f . .£7,500)(B.&O. & Ch.bds collat'l) 263 N. W. Virginia RR. 1st M. (ext. in 1888), assumed Loan 1879 (Parkersburg Branch bonds collateral) io1c Mort. on Phila. Br.,with Balt. &Pbila. bds. as col. 108 Loan, 1885, g. {Pittso. & Connell ville b'ds collat.) 150 Car trw,t loan g.($250,000 paid yearly Jan. 1) .. c ....... lat M. Schuylkill R. East Side RR., gold {guar.). Batt. d!Potomac-lstM {tun.)g.,s. f. 1% not dr'n.c* 112 1st mort., road, gold, s. f. 1 per cent, not dr'n . . c* 90 2d M. income, (cum. with int.) road and tunnel..r 92 Beech Creek-Stock ($1,300,000 is pref.) ......•...•. 130 1st mortgage, gold ........•.................•...•. c 130 Car trust loan, drawn at 100 .....•................. Bells Ga_p.-Stock ..........................•...•...•. .63 1st mortgage ..........•......................... c* .... Extension 1st mortgage .......................... o* .... COnsol. M. (for $550,000) s. f., not drawn ....... c* ··-· ---· --- ---· ---1880 ---- i8~3 1853 1870 1855 1872 1874 1887 1875 1877 1855 1879 1883 1885 1887 1886 1871 1871 1875 'BlOO 100 1,000 100 100 ---· ---· ---- iioo .£200 l,000 £200 1:000 £200 1,000 1,000 1,000 1,000 1,000 1,000 50 1,000 1887 250 &c. 50 ..... 500 1873 1.000 1875 1883 500&c. iss6 I $5,484,000 3 1,032,200 3¼ 368,000 6 14,792,566 4 5,000,000 3 4 579,500 1,709,500 4 g. 3,872,000 6 g. 5,000,000 6 6 g. 9,6130.000 6 go. 9,6 0,000 9,092,000 5 g. 480,000 6 7,741',000 ~ g. 140,000 3,000,000 6 11,616,000 412 g. 10,000,000 5 g. 2,250,000 412 g. 4,500,000 5 g. 1,500,000 6 g. 3,000,000 6 g. 2,000,000 6 5,000,000 212 onpf 5,000,000 4 g. :!62,500 5 550,000 5 250,000 7 100,000 6 183,500 6 ----- Sept., 1888 M.& s. London and Portland. J. & D. Savannah, Co's Office. Dec., 1888 J. & J. Phila.,F.Ins.Tr.&S. Dep. Jan. 1, 1910 May l, 1887 M.&N. Balt., Central Build. Jan., 1889 do do J. & J. Atwill. do J. & J. do Oct. 1, 1935 do A.. & 0. do M.& 8. Lond'n, BaringBros &Co Mar. 1, 1895 Jan. 1, 1890 Baltimore, Office. Q.-J. M.& B. Lond., Baring Bros.&Co. Mch. 1, 1902 M.&N. London,J .S. Morgan&Co May, 1910 F. &A. N. Y., Unlou Trust Uo. Feb. l, 1988 1889-1900 Baltimore. Office. J. & J. J. & D. London ,J .S .Morgan&Oo June 1, 1927 1902 J. & J. A.. & 0. Balt. &N."Y·.:n:M &Co. April 1, 1919 A.. & o. London, Brown, S. & Co. April 1, 1933 F. & A. N. Y. Union Trust Co. Feb. 1, 1925 J. & J. Balt., Mere. Trust Co. 10 p. c. yearll J. & D. Phila., Solicitors' Co . Dec. 1, 192 J. & J , Balt. 0 '.lice and London July l,1911 A.. & o. Balt. Office Calvert St. April 1. 1911 Jan. 1,1915 J. & J. do do Jan., 18'39 J. & J . N".Y., Gr'nd Cent. Depot J. & J. N.Y., Kuickerb'r Tr. Co. July 1..1936 \I. & 8. $37,500 p. ann do do Yearly. Phila .. 105 S. 4th Street. Jan.1,1889 July 1, 1893 do do J. & J. Aug. 1, 1905 F. &A. do do A. & 0 Phil.Guar.F.&S.Dep.Co. Aprtl 1, 1913 holds the 2d and 3d mortgage bonds, $2,213,000, overdue. The stock mort. !'is, $14.7,230 Winchester & Potomac first. mor~. 6s and $2,400,000 of $5,484,000 is mostly£, with dividends :payable in London. In year Pitts. C,eve. & Tol. (see that co·n;iany) first m'>rt. 6s. See also Pitts. & ending Sept. 30, 18'37, gross earnings were $1,076,682; net, $257,395. Connellsville RR. A.ngnsta &: Savannah.-Owns from Millen to Augusta, Ga., 53 OPERATIONS, FINANCES, &c.-Af.'ter having paid dividends ror many miles. Leaser! iu perpetuity to Central of Ge:>rgia for $73 .000 per years thecompanypassed th'3 Nov., 1837, a·id subse.quant dividends on annum. HaA no bonded debt. common stock. From Oct. 1 to Dec. 31, 1888 (3 mos.), gross earnings of all lines Bald Eagle Valley.-Owns from Vail Station, Pa., to Lockhaven, were $5,4~6,585, against $5,!16,050 in 1'387; net, $1,54c7,98S, against Pa., 51 mile,:; branch, Milesburg, Pa., to Bellefonte. Pa., 212 mile!'. $1,730,240. Snowshoe to Sugar Camp, 2612 miles; total o:perated. 80 miles. Opened Fiscal ends s~pt. 30. The annual report for the fl:,cal yeal' endDecember 7, 1864, and leased to Pennsylvama Railroad Company for 99 inS\' Sept.year 30, 1888, published in full in tile< :fIRONICLE V. 4 7, p. years. The branch is the property of the lessors. Rental, 40 per cent 627; see also p. 622.was gross and net earninga of tl1e main stem and of gross earnings. Sinking fund draws $4,000 bonds at par April 1 each its branches and of theTh~ other divisions for the last fiscal year, as comyear. Gross earnings in 1887, $-196,037; net, $270,524; re:ntal, $197,297; p1red with 1888-7 were: surp'us over charges and 10 p. c. div,, $81.202. Stock is $935,000 (par . ,-Earnings, 1886-87.---. ,-Earnings, 1887-88.$50), or w:iich Penn. RR owns $468,350. In 1886 and 1887 paid 10 p. ct. Gross. Net. Gross. Net. Baltl.m.ore &: Ohlo-{See Map}.-Operates Baltimore to Chicago, Main Stem. etc ......... $11,201,348 $4,343,313 $10,616,692 $4,177,046 853 miles, and ha!!, via the Cincinnati Washington & Baltimore, n, direct Waghin.!?ton Branch .. _ 380,400 291,561 3'36,701 304,419 route to Cincinnati, 593 miles, its total mileage leased, owned and P:1l'kersburg BL'anch... 676,830 89,957 631,379 110,176 operatea (excluding the Cin. Wash. & Balt.) being 1.774 miles. Central Ohio Division. 1,283,526 53'l,368 1,199,282 281,187 The mileage in detail is as follows: Owns-Main stem, Baltimore to Lake Erie Division . .. 1,080,463 291,86-t 1,08 ~,096 19--1,966 Wheelin.,., West Va.. 380 miles; branches, 61¼ miles; Parkersburg and Chicago Division.. .... 2,070,033 81,122 2,139,417 161,840 Benwood' bridges, 212 m.; total owned (and covered by consol. mort.), Pittsburg Division..... 2,599,074 1,001,264 2,544,96~ 84.0,401. 4.44 m. Controls by ownership of stock-Washino-ton br.-Relay House Wheeling and Pitt. Div. 465,610 def 18,930 530,370 13,'241 to Washington, D. C., 31 m.; Wheel. Pitt!.'. & Balt. RR., Glenwood, Pa., Philadelphia Division. 718,741 def. 76,220 925,125 46,650 to Wheeling. W. Va., 65 m.; Balt. & Ohio & Chicago RR. {Chica.,.o New'kSomerset & St'le 183,010 2,575 241.461 13,107 Div.), Chicago Junr., Ohio to Parkside, Ill., 263 m., with trackage to Totals ....•......... $20,659,0::!6 $6,53::!,9u4 $'l0,353,491 $6,152,930 Chicago (IU. Cent.), 8 m.; Parkersburg hr., Grafton, W. Va., to Pa;rkersIn 1897-88 the net balance over all chal'ges wag $'508,91 l, out of bur!!', 10:-; m.; Philadelphia br., Canton, Md., to Delaware Stat.e line, 53 which paid bonds and contributions to sinking fund amounting to m.; Ba'timore & Phil. RR , Delaware State line to Schuylkill River East Bide RR. (near Philadel[)hia), 42 m., and brancl1, 15 m.; Schuylkill $381,487, leaving net balance of $121,432. River East f'lide RR., through Philadelpl:J.ia_,10 m.; Washln!:ston Co. RR., Results on all lines in five years have b3cn: Weverto11, Mel., to Hagerstown, Md., 24' m. Leases in perpetulty at its Years. Gross Earnings. Operating Expenses. Net Earnings. own option-Pittsbur~ & Connellsville RR. (also controlled) P ittsburg 1883-84 $19,436,607 $11,676,307=60·07 p. o. $7,760,300 to Cumberland, 151) m., and leased lines, 23 m.; Central Ohio RR. (Cen- 1884-85.......•• --· .••• 16,616,6-t2 10,973,585=66 ·03 " 5,613,057 tral Ohio Div.), Bellair~, 0., to Columbus, 137m.; 81,ndusky M:ansfiela & 1883-86 •····•• 18,422,437 12.035,7-13=65·33 " 6,386,693 Newark RR. (Lake Erie Div.), Newark. 0., to Sandusky, 116 m.; Newark 1886-87 .••...•• 20,659,035 14,120,!6l=6S·3t " 6,">38,904 Somerrnt & Straitsvlll~ RR. (Straitsville Div.), Newark, 0., to Shawnee 14,200,5'H= - - " 6,152,930 .and branch, 47 m.: Winchester & Potomac RR. (32 m.), Wincnester & 1887-88 ..•...•• 20,353,491 .Strasburg RR. (21 m.-also controlled) and Strasburg & Harrisonburg -{V. 46. p. 102,319,344, 4.13, 510,619, 802, 804,819,827; V. 47, p . 470,611,622,621, 627, 708,775. RR. {49 m., •ea11ed from Va. Midland),forming line from Harper's Ferry, W. Va., to Harrisonburg, Va., 102 m.; ot,her lines leased, owned, conBaltimore &: Potomac.-Owns from Baltimore. Md., to Boutf.l trolled and operated, 141 m. Grand total, 1,774 miles. End Long Brid~e, Va., 43 miles; and from Bowie to Pope's Creek, 49 ORGANIZATION, LEA.SES, &c.-The corporation was chartered in Mary- miles ; total, :,2 miles-including tunnel in City of Baltimore; lea.sea land Feb. 28, 1827, and in Virginia March 8, 1827. First section opened branch 4 m.; total operated 96 miles. Controlled by the Pennsylvania May 24, 1830. The B. & O. Telegraph Co. stock owned by the B. & O. RR. Co., and first mortgage bonds guaranteed by Pennsylvania and Railroad Co. was sold out to Western Union for $5,000,000 Western Northern Central. Capital stock, $3,553,250 (par $30), of which Penn. Union stock at par and a rental of $80,000 per year for fifty years. RR. owns $1,511,100. In 1888, gl'oss earnings, $1,::J45,878; net earn. l.'he B. & O. Express was sold in Sept., 1887, to the U. S. E x:press Co. ings, $513,016; interest charge, $283,762; surplus $2.!8,8~5. In 1887, The B. & 0. Railway Co. h11.d a nominal surplu.s to credit of income gl'oss earnings, $1,447,332; net, $538,955; surplu.s f)Ver cllarge,, $25'3,. account Sept. 30, 18813, of $23,812,606, again<1t $48,083,720 in 1887, 842. Income bonds are aH held by Penn. RR. Co. From Jan. 1 to Nov. the reductio:n. having been occasioned by a revaluation of securities and ~O, 18E<8 (11 months). gross earn's were $l,425,900, against $1,326,350 property owned and the writing off of accounts uncollectible. It is pro- m L887; net, $495,317, against $501,843. posed to open a thr.ough line to New York, via the Reading afld Cant.ral Creek.-JerseyShore, Pa., to Gazzam, 104 mue,: branches of N. J., with terminals on Staten Island. For this reason the company toBeech Philipburg, to mines, &c., 2'> miles; total, 130 mile~. This is suchas acquired control of the stock and income bonds of the Staten [slstnd cessol' to the .Beech Creel!:: Clearfl.eld & 8. W. reorg. in 18',6. There are Rapid Transit RR , and under suo-corporations is going to construct a $262,500 5 per cent car trusts (int. M. & S.), p9,yable $37,750 yearly. short line from Philadelphia to a junction with the North Pennsylvania Uividends on pref. stock 1>riorto currant year have been: ln 1880, 5 RR., which i-1 part of the Reading system. per cent {out or profits of old company); in 1887;'5; in 18~8, 5. In 1887 STOCKS A.ND Bo~s-The pref. stock carries 6 per cent dividends only. gross earnin~s were $7d6,823; net, $373,193 ; surplus, over fixed The common stock has paid-in 1877, 8 per cent; in 1878, 8 in stock; in charges, $130,847; dividend (5 p '3 r cent) on pref. stook:, $:i5,0 )0. Wm. A. 1879, 4 stock and 4 cash; 1880, 9; in 1881 to 1885, incl., 10; in 1886, 8; W<1ollace, Olearfleld, Pa.., Ptes. (V. 45, p. 13,203; V. 46, p. 573.) in 1887, 4; in 1888, none. Range in prices of common stock in Baltimore Bells Gap.-Owns Bellwood, Pa., to Irvona, Pa., 26 mlles,.and • In 1881 was 18311>210; in '82, 190~202; in '83, 19212W205; iu '84, 167 leases 99 years Clearfield & Je1fer3on R'wa.y, Irvona to Horatio, @199; in '85, 166½11>185; in '86, 15011>191; in '87, 10411>180; in '88, Pa., 37formiles; total, 63 miles. Dividends since 1881 nave been; In 80@106¼; in '89, to Jan. 18, inclusive, 8611>86. 1882, 15 scrip; in 1883, 6; in 188!, 3; in 1835 to B813 incl., 5. Gross Of the bonds given 1n the table as outstanding the s;n.king funds held earmngs in 1886-7, $180,495; net, $3:l,460; interest paid, $3 t,407; <!.ivSept. 30, 1888, consols of 1887 to the amount. of $1,592,000 {interw,t $27,500; surplus. $22,553. Gross earnings in 1885-86, $l60,on which is paid in console themselves, and bonds of tne main line idend1;1, 252; net, $78,230. Of the consol. mortgage $350,000 is reserved to mortgages prior to consols to a total of $7,611,912; they also Mn- retil'e prior issues. Chas. F. Berwind, Pres., Philadelphia. tained $841,192 canceled bonds. Belvidere Dela-ware.-Owns from Trenton, N. J., to Manunka Tp.e <_ionsol. mort. of 1887 (trustee, Mere.. Tr. & Dep. Co.) covers the mam lme and branches, 4.44 miles, the two Ohio River bridges, stock of Chunk, N. J., 67 miles; Millham Cut-olf, 1 mile, Flemington RR., 12 the Washington branch for $1,028,000, and the entire issue of first miles; total operated, 80 miles. Leased to United Companies, and transmortgage bonds (£5,000,000) on the r ~ad between Pittsburg and Wheel- ferred to Pennsylvania RR. March 7, 1876, by which operated as their ing. The balance of co~sols unissued is reserved to retir.! the prior Belvidere Di vision, and net earnings pa.id over as rental. P ..mu. RR. owns bonds_not held by ~he smkl.ng fuuas. The loan of 1877 is secured by most of the 7per cents. In 1835, the Flemington RR. Co. was merged deposit of the entire stock and bonde of the Chicago division. The in this. The 1st mort. (convert. into stock) and new 4 p. c. bonds are loan of 1879 is s ➔cured by deposit of m 1rtgage for $ J,000,000 on the guar. by the Unlted Co's. All mortgages i,xcept 1st have sinklng fund of Par:~e~sburg branch, this mort. being subject only to $140,000 N. W. 1 per cent, it earned; no bonds drawn. In 188 7netearnings were$3 rn,V1rg101a bonds assumed by B. & O. To.el'lan or 1883 is secured by fir3t 509; surplus over cnarges, $121,t2l; dlvidecd3 (6 per centJ, $69,000. mort. on the Phil. branch and pledge of all first mon. bond!! of the In 1886, net, $454,252; int.,$263,3!1. Dividends of 6 per cent are paid. Balt. & Phil. RR. {Md. State line to Phil.), a'llounting to $1,000,000. Qapital stock, $1,150,000; par ot shares,$50.-(V. 43, p. 578.) The loan of 1885 _is secured by $10,000,000 2d consol. bonds of PittsBennington&: Rutland.-Owns from Rutland to Bennington, •burg & Connellsville RR., deposited with Union Trust Co. of N. Y. as Vt., 57 miles; branch, No. Bennington to New York State Line, 2 miles; trustee. The bonds of the Schuylkill Val. & East Side RR. are guar· total, 59 miles. Chartered as West. VermQnt in 1845, and consolidate<1 anteed by B. & O. ; the Pennsylvania Co. for Insurance on Lives, &c. ln Harlem Ex-tension in 1870. Since Sept.·10, 1877, the Vermont division is the trustee. (a.a above) operated by the reorganized Bennington & Rutland. Stock, The other bonds guaranteed are $6,250,000 Cin. Wash. & Balt. first 1111,000,000 authorized (par $50), and $5021000 issµed. q_ross earn.Inga ~ 111ort. 419 per cents, $'?.50'l,OOO Staten Island Rapid Transit second ln 1837 were $244,874; net, $69,291; surplus over int.erest, $36,041. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ! ~ ~ U). ~ 0 ~ 02 r:I) q ~ ~ 8z ~ MAP OF THE BALTIMORE & OHIO RAILROAD AND CONNECTIONS. 1 ~ ~ ..... Fl RAILROAD JANUARY, 1889.J STOOKS AND 21 BONDS. 8ub.erlbers will conf'er a great f'avor by giving Immediate notice of any error discovered la these Tables. INTEREST OR DIVIDEND~. Bonds-Pr1no1- - - - - - - - - - - - - - - - - 1 p a l , W h e n Due, D::r_te S~~ror Amount Rate per When Where Payable, and by Stocks-Lut t Road. Bonds Value. OutS a.nding Cent. Payable Whom. Dividend. DESCRIPTION. For explanation of column headings, &o., see notes ~es on first page of tables. Bel~Del.-lst M., ext'd in '77, conv., guar ... <' Cons. mort. of 1876, ~inldog fund, not drawn . . o Cons. M of '7o. guar. by Un. Co's & Pa. RR., s.f .. r Flemington RR. M. l>ds., s. f., 1 p .ct. not dra.wn .. c lhtmington &.Rutland-1st mortgage............... Berkshire-Stock (7 p. c.perpet. re1tal Howatonic). BUUngsC.F.tt Ovoke C.-G'l lstM.s.f.red.at 110.g.o.. 1'oslo-n ft Albany-Stock............................. Plain bonde, not- mort1?Bge ...•..••...•..••..... c&r Bonda of 1875 not mortga ge ..............•.. o&r .Bond!'I mot mort.l issued to State for its stock . . . r Boston Ooncord d: Mont1·eal-Old pref. stoc.K, guar.. Com. and new pf. stock (new pf. Rtock is $540,400) ConsoJ. mort. (for$2,000,000I $582,400 are 6s. ·" 64 1877 $l,OOO $1,uoo,ooo 67 1876 1,000 1,070.000 67 1885·7 1,000 l,2nO.OuO 12 1876 1,000 250,000 59 1877 1,000 475,000 22 .... 100 600,000 51 1887 500 &c. 390 ..•. 100 20,00(),000 . ••• 1872 1,000 5,000,000 • • • . 1875 1,000 2,000,000 1882 100 3,858,000 i87 .... 100 800,000 187 100 1,000,000 1,l:)47,400 166 1873 200 &c. 500,000 5.fl29,400 1,499,500 750,000 620,000 •••. 1883 •••. 250,000 -2,32-5,000 . .•• '85-6·7 •••• 426,000 . •• . • ••• 300,000 . •. . • • •. . .•. 7,000,000 1,209 ..•. 100 3,500,000 .••. 1873-4 500 &c. 2,473,000 .. . . 1885·7 1,000 100 2,99d,OOO 54 500,000 50 iSSO 1,000 4,000,000 . . •. 68 100 500.000 • • • . 1 87 3 . ••. 1,400,000 1888 498,000 ·"ii 1882 1Er~Yi~Fr1·: .~~~~~~-;~~1· r~~ i i ?f Bonda do ..•...•.. a rental guarantee Bonds do ......•.. for 99 years. L. & L. & B. & L. bonds Nash. & Low., 1·l'n bda. · Boston ct Maine-Stock .••..•..••••.••...•..•..•..... Bonda .....••.•..•....•.•.........••........••. o&r lmp'nt bonds ($1,000,000 due Feb., 1905 1, s. f. ... JlostonctN Y.Air-Line-St'k, pref.(gu.N.Y.N.H.&H.) lat mortgage .............•.. ................. ... . c• Bosum ct .Prov.-Btook, 10 p. c. guar. 99 yrs .• Old Col. Bonda to purchase branches, coupon or reg-jRtered Funding bonds, not mortgage, sink. fund 1890.c* Bradfora BordeU ~ Kinzua-lst mortgage .••.. ... c 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., and for this reason the quarterly dividend due in Oct. is usually omitted. Blllh1gs·c1ark's Fork & Cooke CUy.-ProJected from Billings, Mont., 011 Northern Pacific RR., to Cooke City-distance, 115 miles-· with a branch extendin,ir up Bear Creek, 10 miles, ma.king a total of 125 mres. $800,000 of tl.10 bonds have bet-n authorized to cover 51 miles of road from .Billini?s to coal fields; mortga~e is for $2.000,000. Sinking fund 1 per cent after flr•t five years, bonds drawn at 110. The Co. has coal land, and has a coal contract with Northern Pacitto RR. Boston & A.lbany.-Owns from Boston, Mass., to Albany, N. Y., 202 miles; numerous branches, 102 miles; leased lines, 86 miles ; total operated 390 miles. The Boston & Albany was formed <Dec.• 1867) by tbE\ consolidation of the Boston & Worcester and thE\ Western RRs. Cash dividends at the rate of ~ per cent yearly have been paid for many years. Stock dividend of lo per ci:,nt was paid in 1883 and of Sl_a_per cent iu 1886. Fiscal year ends Sept. 30; report for 1888 was in V. 4.6, p. 4.98, INCOME ACCOUJll"T, 1884·85. $ Groll& earnings ..••.•••..•. 7,637,932 1885·86. $ 1886·87. 1887·8. $ $ ---- J.-------------1-----& D. Philadelphia. Pa. RR. . June 1, 1902 6 7 4 6 7 J. & J . Treasurer. Trenton,N.J Variou, Phi1a.ddphia, Pa., RR. J . & J. Treasurer, Trenton,N.J. M. & N. .N. Y., Union Trust Co. Q.-J. Stockbridge, Treasnrer. lll&. J. & J . New York & London. ~ g. Q. -M. Boston, Olliot,. F. & A· do 7 J. & J. do 6 A.. & O. do 5 21.g M. & N. Bost. ,31 Milk Sli. &Plym. 0 6°& 7 6 31.g 7 6 5 41.g 4 6 5&6 4 7 4 2 5 21g 7 A 6 A. ·&·o. Boston, Office. Apr:·1,..i893 J. & J. do do Jan. 1, 1911 J. & J. Boston, at Office. Jan. 1, l~~g Various do do Apr.,1892&'91> J. & J. do do July 1, 1896 J. & J. do do July 1, 1899 .\{. & N. do do May 1, 1903 Various do do Bep.1,1905-6-7 A. & 0. do do Oct. 1,'97 &'98 Various Nashua, Co.'s Office. Au,;r;.'93&1900 M. & N. Boston, at Offl'le. Nov. 15, 1888 J. & J. do do Jan.,1893 & 94. F. & A. do do 1905,'07 & '3'l A. & O. N.H.,N.Y.N.H.&H.Co. Oot., 1888 F. & A. N. Y., Lincoln Nat. Bank Aug. 1, 190CS Q.-J. .Hoston, at Office. Jan, 1, 1889J. & J. do do July 1, 1893 Q ,July 1, 1918 J. ·& D. Bradf'd,Pa., Co.'sOffice June 1, 1931 Miles operated ...••.•••..•.•••• E,,rn,lngs- Jan. 1, UH6 Sept., 1925-27 Jan. 1, 1916 Nov. 1, 1897 Jan. 1, 1889 J~n. 1, 1927 Dec. 31, 1888 Feb. 1, 1892 July 1, 1895 April 1, 1902 Nov. 1, 1888 1885-86. 586 1886·87. 609 1887·88. 1,209 $6,489,56:i, a,700,569- Pa.s11enger .• ••.•••.•••.•••.•••• $4,0(0,286 Frei~ht. ....•••..•• •••• .••• .••• 2,92H,766 Mail, express, &c. _. •. • •• . • • • . • 283,829 $4.374,581 3,207,062 310,989 Total gross earnings .•••.•••.. $7,253.881 Total t,xpenses, incl. taxes. ... 4,n3,409 $7,892,632 $12,7:l4,519 5,2ti8,831 9,241,768 $2,623,801 Net earnings .•••.••.•.•••••.••• $J,500.t72 INCOME ACCOUNT. .RecP.1vts18-5·86. 1886-87• Net earnings .••...••••••.•••.. $2,50.',472 $2,6.!3,801 ~99,750 Rentals, interest, &c .•••. _.... ~~9,809 Total fnc-0me .••.••••••••.. $2,790,281 Disbw·sements- Rentals pain,incl. Eastern RR. $1,36:;,117 Interest on debt.... . ••• . ••. . . . 255,440 Dividends ..•...•.....•..••..• (919) 6ti5,000 Eastern propor'n under lease* 4ti9,724 --- f2,923,561 534,:186 $3,492,751 1887·88. $3,482,751. 38tl,'l79 $3,869,030 $1,4!11,075 $2,862,90i 260,609 296,486 (10) 700,000 (10) 700,000 510,8-16 91,153 Total disbursements .••.• $:l,75!'>,281 $2,922,530 $3,9:')0,541 8,298,733 8,925,743 8,882,664 $1,021 def. f81,5ll $35,000 Net earnings .........•••.. 2,314,306 2,488,313 2,552,t08 2,410,707 Bal.a.nee surplu.s.............. Dfabur11emenu* Cucludes interest anj sinking f11nLl for improvement bonds. Rentala pi.id.... .••• . . •• .• 75,000 '7~.000 78,000 78,000 Interl:'St OD deht ..... ··-··· 662,\4• 0 663,4'l0 662,900 tl6l,900 -(V. 47, p, 743,760.1 Dividends, 8 per cent ..•.. 1,547,E04 1,547,804 1,. 99.565 1,€00,000 Boston & N e,v York A.Ir Llne.-Owns from New Haven, Oonn., to Willllnantic, Conn., 50 miles; leases Turnerville to Colohester1 4 To'.al disburrnments .••. 2,285,70-l 2,289,224 2,340,465 2,3-10,900 miles; total operated, 54 miles. Formerly the New Haven Middletown Baldnce, surplus.......... 58,602 199,121 211,643 69,807 & Willinlantio. A lease was made in Oct., 1882, to the N. Y. N. H. & H&rt, RR. for 9~ years at 4 per cent dividends per year on the pref. stock and -(V. 45, p. fi72, 611,614,705; v. 46, p. 201,610; v. 47, p. 161, 498.) interest on the bonds: the common stock is ~836,900. Boston Concord & Montreal. -Owns from Concord, N. H., tc Boston & Provldence.-Owns from Boston, Mass., to Providenoe Woodsville, N. H., 93 miles; branches-Woodsville, N. H., to Groveton R. I., 44 miles; branches,20 miles; leases, .Attleborough to North AttleJunction, 53 miles; Wing Road to Mt. Washington, 20 miles; leased borou,11;h. 4 miles; total operated, 68 miles. In November, 1887, the Plymouth to No. Woodstock, 21 miles; total operated, 187 miles. directors authorized $2.000,000 bonds to pay floating debt. LeMed for In June, 1884, leased for 99 years to Boston & Lowell, but suit to 9~ years from April 1, 1~88, to Old Colony RR. at 10 per cent yearly on. annul the leaee is pending. Rental 1s 25 per 1:ent of gross n-ceipts of the F-tock and a. bonus of $1,300,000 cash, out or which an extra dividend Northern, the Uon. & mare. and BoFton con. & Mont. railroads, less of $32.50 was paid on stock May 2, 1888. f'ividends 1-11!.ee 1879 have f200,000 pt>r year, with guarantee of interE,st oo bonds and fi per cent been: 1880 to 188'-o incl. 8 per cent; in 1880, a12; in 1887, 10; in 1888. on preferred stock. Dividends on old pref. 1otock E-inoe 1877, inior to 10 and 32~ ex. In year ending Sept. Sv, 18ij7, gross income was. current year have been: In 1877 to 1884 incl 6 per cent; in 1885, 511a; :j;l.905,495; net, $-170,863. (V. 46, p. 480.) from 1886 to 1888 incl. 5.-(V. 46, p. 707 .) BradCord Bordell & Klnzua-(3-foot gauge)-Milea.ge from Bo•ton & Lowell.-Owns from Boston to Lowell, 27 m.; branches - Bradford, Pa., to Simpson, Pa., lf> miles; Kinzua Junction to Rew City, Salem & Lowell, 17 miles; Lowell & Lawrence, 12 miles; others, 32 2 miles : Rew City to Eldred, 12 miles; BimpRon to Smethport, 10 miles; miles; Middlesex Central, 11 miles; leases-Na.shua & Lowell, 15 miles; total, 39 miles. Stock ts $500,000, par of shares, $100. l1l Doo., 1884. Stony Brook RR., 13 miles; Wilton RR., 15 miles; Manchester & Keene derault in interest was made, and in Nov.• 188:>, bondholders subscribed RR.,~ miles; B. Con. & Mon .. 187 miles; c.;entral Maas., 104 miles; 5 per cent on their bonas to resume payments. Gross earnings in 1887,. Connecticut & PaissumpE!lc, 147 miles; total leased, 509 miles; total $r;0,737; detioit u.nder int., $i3,223. J. J. Carter, Titusville, Pa., Prest. owned and leased, 609 miles. BradCord IDdred &: Cuba.-Owns from Cuba. to Ceres, N. Y., In June, 1884, a lease ot the North. ot New Hamp. and the Bost. Con. & Montreal railroads was made. In March, 1887, the Northern leaRe 24 miles; operates. Wellsville to Little G ·nesse, 21 miles, and Eldred to was held void. The St. Johnsbury & Lake Ohamplain .RR. was lea,1ed, Ceres, 9 miles; total operated, 54 miles. Stock, $480,000: par, $100. but a suit concerning the lease is pending, and the 1·oad is now operated There are also 2d mortgage bondl! for $60,000, 6s, which were due Jllile 1, 1885. Foreclosure suit be~un in February, 1885. Iu year by its owners. The Conn. & PaRsumpsic RR. is leased for 99 years from Janu ry 1, tnding Sept. 30, 1888, gross earnings were $2'3,057; deficit under operi, 1887. A lease of the B. & L. and all its brauohes to tbe Boston & Maine ating ex penQes and t'lxes $42,303, against deficit of $15,919 in 1886·87. for 99 years was effected by vote of stockholders ·on .June 21, l8d7, and T.hos. C. .t'latt, Receiver, 82 Broadw..1.y, N. Y. (V. 46, p . 537.) in Oot. the Unes passed to the Boston & Maine. B.Y the lease tWs com• Brooklyn Elevated.-Owns from Fulton Ferry and Brooklyn pany receives 7 per cent on stock till ran., 1897, and 8 r. c·. thert>after. Bridge via Broadway, &o., to East New York, 6~ miles, and lea.sea. Dividends since lb80 have been: In 1881 and 1882, 4 per cent; in Union E.levated, in optwatl•m from Broac1way and Lexlngton A.venue 1883, f>; in 1884, 5½; in 1885 and 1886, 6; in 1887, ti12; iu 1888, 7. to Broartway Ferry, 2!\.& miles, and Myrtle A.venue and Ada.ms St. to Fieoal year ends Sept. 30. Income was as follows in 1886·7 ani B1ook.1Jn Bridge, l•o mHe.:1. OtheL· lines or Un. El. under construction 1885•6; no report was issued !or 1886·7: to ue optned early in 1889. Thi@ ls t.Lle Brooklyn El. RailrofU.t organ18~6·87. 1885-86. ized May i9, lt:18!, as suooefsor to the Brooklyn Elevated Railway sold Net earnings ...•••••••••••••••.•••..••.••.••• $1A91,590 $1,27a,741 in foreclosure May 12, 1884. The capital stock is $5,000,000 (par Fixed charges................................ 1,127,703 971,653 $ I 00). After 1888, 1C mt earnings suttice, a sinking tund or ooe per cent will purchase 2d morr. bonds at 90, and afcer '89 a llke s. td. will Balance .•••.• - .•• - .. - • . . . . . . • •• . . •. . • • . . • • . . . $363,887 $302,0:,8 purcbaRe lst mort bonds at 105-no bond" drawn. -(V. 45, p. 512, 538,792; V. 46, p. 37.) The Union Eleva.ted b, ,nd:i, incomes ai well a:3 lat mort., are guaranBo•ton & lffalne.-Owns from Boston to Portland, Me.. via Dover. teed, pr1ucipal and interest. The ! st mort. i.s for $7,000,000, tlle 2d. N. H., 115 m 1le.,. Leases-Boston to Portland, Me., via Portsmouth. for $l,50ll,U0i>; Trustee of both, Central rru~t Co. IG is expected thai N. H. (Eask1n RR's in Mass. and N. H. and 1-'ort. 8aco & Port•.I, 108 a com:olidat1on witll the UnionEleva.~ed w 11 evtntually tak, place. For year ending ::ie.vi. ~o.1887, gross earnlnl!s, $620,28!; net. $l29,m.; Bostou to ::: herbr.ioke. Canada (Bos. & Lowell, Nash. & Lowell, f!on• cord (trackage), .Northern N. H., Coun.& PasmlllJ>, ar.d M;t,;sawippl Val. 200; net def. un•ter parmeut.s, $l2,49l. in 18-3,-88, ~ro'!s earnings. RR's) 21:10 m.; Portsmouth, N. H., tu North Conway, N. H. (Ports. Grt. $765,559; ntt. $275,507; surplus ov.-r fixed charges. $1,703. Hy. W. Falls & Con.) i2 m.; Woecester, .Mass. to RochPster, N. H. (Woroes. Putnam, Pres't. (V. 46, p. 74, l90, ~01, 610; V. 47, p. li:,S, 594, 803;. Nash. & Ro1·h ), 05 m.; North Cmnoridge Juuo. to Northa.mptou, Mass v. 48, p. 100.) 4Cent. Mase.), }'9 m.; branches 430 ru.; total operated t:St-pt. 30, 1088, Brooklyn & Montauk.-Brooklyn to Eastport, L. I., 67 mileai 1,209 mile • For terms of leases see under title of ea.ch company eli:;e• branches to Fresh Pond .Junction, 1 mile; to Rockaway. 10 milea; where in lhis SUPPLEMENT. The Boston Con. & Montreal tea.•e being in total, 7 8 miles. This was t1rst the South Side Railroad o! Long litigation, the road's mileage is not incluoed in the B. & M. report. Island, which Wl.llt foreclosed Sept. 16, 1874, and reorganized as the Dividend.t:! since 1880 nave been: In 1881 to lt:185 inoluslve, 8 per ot.; Southern of Long Isla.ml. On June 3, 1879, the property was ~ain sold in 1886, 9 '9; in 18i 7, 10; in 1888, 9. · • in foreclosure of the second mortgage. and this company organized. There were also ~ept. 30, 1888, $2,278,000 notea payable. The preferreU stock has a. preference of 7 percent, not cumulative• .ll'la(l Tile tliaal year end.e Sept. 30. Report tor 1887-88 was in CHRONICLE, was leased to the Long Isl. RR. for 50 years, from October, 1879. at i i EC:~J.~:zi, e , r - ~ below are for the whole system, oer cent of the net earning& of the whole Long lsl. RR. system. tnolu~ 1 8 Its leased Unes. In April, l88e, modifications ot the lea8e llu..ked \1:16 tcfJ~,~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. [Vor,, XLVIII. Subscribers will conf"er a great f"avor by giving l.m..medlate notice of' any error discovered In these Tables. Bonds-Prinoi INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or Amount Rate per When Where Payable, and by pal,When Due For explanation of column headings, &c., see notes of of · Par Stocks-Last Outstanding Cent. Payabl~ on first page of tables. Whom. Dividend. 1 Road. Bonds Value. .Bradford Eldred & Ouba- lst mort ..•....•...•...•. Brooklyn Elevated-1st m., g., s. f. not drawn .••. c"" 2d mort., gold , sinking fund not drawn .. .-...... c* Union Elev., 1st M., guar., $550,000 p, m., g . . . c* 2d M., inc non cum., g uar., $185,00 0 p.m., g c•· -B rooklyn & Montauk-Stock ($1,100.000 is pref.) .. First mort., guaranteed by Long Island RR .... c • Second mortgage (for $600,000), golrl ........... c~ Brunsw . & West.-lsli M. guar. bys. F. & W .. . c*&r Buff.Brad.& Pitts.-Gen: M., (incl. 10,000 ao. l'd) .. c Buffalo N. Y.d Erie-Stock(7 p.c.rent N.Y.L.E.&W.) lat mortga~- .........•.......................... . c B¥f_-&llP~1:i ~g::g;;:~. ~~~--~·:.!:~~~~·~~~:?~~~:~~ ·- -· - - 24 6·9 6·9 ---0 78 78 78 171 26 142 142 A.ll 108 258 R. & P. Consol. mortgage, $20,000 per mile ....•. R. & P. Equipment bonds (car trust) in 5 series ... 67 !/luffalo&Southw.-lstM~.int.gr.byN.Y.L.E.&.W.c* Burlington O. Rapids& orthern-Stock ............ 1.046 369 l~~~c~a!\v i·st· ·,g·g ~ c~ 73 Ced. RaJ!. I F.&N.W., lat M.,g.,guar.,red.a.ft.'90} 390 o 1st M.,gold, ~ r ............. c Consol.1st M.& collat. trust, g., $15,000 p.m •c*&r All 12 Minneapoli~ & St. Louis, 1st mort., (assumed) ..•. .Cairo Vincennes if Onie. -lat M. bds., gold (Wabash) 266 114 California Pacijlc-lst mort., gold (ext'd'd at 412) 2dmort., end. by Cent. Pao .... . ·-· · ············ · ·· 114 3d, mort. guar. by Cent. Pao.($1,000,000 are3s) .. 114 79 -Camden & Atlantic-Stock ($879,850 of it pret.) .... lat mortgage (extended 20 years in 1873) ..•... c• 78 2d mortgage, extended in 1879 ..•...•...•..••.. o* . . Consol. mortgage (thirty years) ..•...•...•..... c* "'ii Camden & Burlington Oo.-lst.mortgage ........... 0 est:; M:: re·d. ·after gua.r.... -- --- 1881 $1,000 1884 1,000 1 885 1.000 1,000 1887 1,000 1887 100 1,000 1,000 1888 1888 500 &o. 1,000 1865 100 is76 1,000 1,000 1887 1881 1,000 1,000 1882 1,000 Var's 1877 50&c. 100 is76 100 &c. 1,000 1879 {1880 1,000 1881 1,000 1884 1,000&o 1877 500 &c. 188·1 1,000 1.000 1867 1,000 1871 500 1875 50 is5a 1,000 1,000 1854 1,000 1881 1867 500&0. issi leseee company to making Improvements not over $'200,000 in excess •Of t"\l.e earnings each year, one.fourth oeing char~eable to the B'klyn & Montauk. The Long Island Railroad guarantees interest on $750,000 of the l st mort.. 5 per cents, and both principal and interest on $250,000 si:J::ea In June, '88, $550,000 2d mort. bonds were issued, and di-vidends of 30 p . c. on pref. stock and 20 on com. were paiiL (See v. 46, p. 609.) Daniel Lord, l-'rP,Btdent,Nc,wYork qty. (V.46,p. 609,770, V. 47, p. 563.) Brunswick & Western.-From Brunswick to Albany, Ga ., 171 miles. This was formerly the Brunswick & Albany. In Dec., 1 887, ~he control of the road was sold to the Savannah Florida & Western, .and m1w bonds were ismect. aa abo~e, guaranteed principal and interest by the S . .F. & W co., trustee or mortgage bein!{ Metropolitan Tr. Co. There are also $3,000,000 5 per cent non·cumulative income bonds. ,Stock: Common, $ l,500,000; preferred, 6 per cent, $3,500,000; par -$100. (V. 45, p. 512; V. 46, p. 428, 819, 828.) Bufl"alo Bradf"ord & Plttsburg.-Owns from Ca1Tollton, N. Y. to Gilesville, Pa., 26 miles. Completed in 1866, and leased to New York Lake Erie & Western for 499 years. Rental, 7 per cent on out• standing bonds, $40,600 a year. Capital stock, $2,286,400; par $100. Bufl"alo New 'l'.ork & Erle.-Owns from Buffalo, N. Y., to Cor.Jling, N. Y., 142 miles. Leased in 1863 to the New York & Erie for 490[.ears, and now operated by the N. Y. Lake Erie & West. Co. Rental, -$23 ,100-viz., 7 per cent on stock and bonds and $5,000 for organiza-tion expenses. Dividends and interest paid directly by the lessees. Bufl"alo Rochester & Pittsburg Railway .-(See Map.) Owns from Rocheste~ N. Y., to Clayville, Pa.., 229 mUes; Buffalo Branch from Ashford to Bmralo, 48 miles; other branches, 17 miles; total, 294 miles. Tbis company was formed in March., 1887. as successor of the Roch· -ester jt Pi~sburg and the Pittsburg & State Line RR., which were fore-closed in Oct-. 1885 and purchased by Mr. A. Iselin. Tbe preferred stock or the consolidated company is $6,000,000 (en• <titled to 6 per cent dividends, non-cumulative), and common stock, $6,000,000. In year 1886·87 212 per cent was paid on preferred stock. In N ovember, 1887, anew mortgage (Trustee Union Tr Co.ofN. Y.) for :ff;l0,000,000 5 per cent :fifty year bonds was issued, $6,uou.ooo being reserved for prior bonds. Fiscal year ends Sept. 30. Report tor 1886-87 was in V. 46, p. 101. Receipts· 1886-7. 1887·8. Gross earnings ..•••.•••.•••.•••..•......••.. $1,916,361 $2,032,091 Net in0ome (including miscellaneous) ..... $594,734 4!5~0,343 Disbursements- .Interest on bonds........................... Rental and miscellaneous.................. $353,910 $116,550 68,505 114,786 $422,415 $531,33€ def. $10,993 Balance ...•• ·-·······-····.:·.-·-·· .••. sur. $172,319 A. Iselin, Jr., N. Y., President. -(V. 46, p. 101,201,353, 6_10; V. 47, p. 161,594, 624.) BnJI'alo & South-western.-Owns from Buffalo to Jamestown, .N. Y., 67 miles. Formerly theButfalo & Jamestown; reor"'anized 1n 1877, after foreclosure. In July, 1880, leased to N. Y. L. E. & West. for 99 vears-at 35 per cent of gross earnings, but interest on bonds guaranteed. Rental in year ending Sept. 30, 1887, $115,3 ;)2; .in 1887-88, ~134, n18; surplus over fl.xed charges, $37,663, out of which paid 7 per -cent dividend on preferred stock. Stock-common, $171,833, and ,Jj!471,~33 preferred; par $100. Burlington Cedar Rapids & Northern.~On Jan. 1 '88, oper.ated from .Hurlington, Iowa to Albert Lea, Minn. (including 11 miles leased ), 253 miles; branches-Linn, Ia., to Postville, Ia., 94 miles; Mus• catine, Ia, to Riverside, Ia., 31 miles; Vinton, Ia., to Holland, Ia., 48 mµ~s; Iowa. City to What Cheer and to Montezuma, 73 miles ; Clinton D1visi~n, 81 mileli; Decorah Division, 23 miles; lowa Falls Division, -430 miles; Waverly Division, 6 miles; Forest Divisian, 7 miles; total ,owned, 426 miles; total operated, 1,046 miles. This company has a per• petual lease of those lines (included above) built by the Iowa City & Western, t~e 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 Division tor tlve vears ending June 22, 1891. This company was formed as successor to the B. C. R. & Minn., foreclo ~ed June 22, 1876. In May, 1885, a decision was obtained by ,the holders of old equipment mortgage bonds of 1874, holding those bond&to be good, but the master found only 513 bonds a valid obliga• tion, and the case is yet pending. (V. 46, p. 649.) fowa. 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 Minneap. & St. Louis 7 per cent bonds due June 1, 1927, as commuted ,rental !Or 12 miles of road leased for 999 years from Minneap. & St. L. In April, 1884, for the purpose of issuing additional bonds for extenBions, tihe limit of authorized capital stock was raised to $30,000,000. The oonsolldat,ed bonds are dated April 1, 1884, are issued at $15,000 per mile to build new road, being secured by first mortga,ge .bonds on the roads built, deposited with the Central Trust Co., trustee of this mort.ga.ge. They will also retire all prior and divisional bonds. FromJan.1 to Nov. 30 in 1888 (11 mos.), gross earrungs were $2,579,· "878, against $2,700,587 in 1887;· net, $&74,222, against $665.647 in '87. .Animal report in V. 46, p. 6l9, gave net;,income; &o, as follows: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I $500,000 3,500,000 1,250,000 2,305,000 m --- 6 J. & J . Last p aid July, 1884. 6 g. A.. & o. N. Y .. Cent. Trust Co. 5 g. J . & J. do do do do g. M. &N. J. & J. do do 20 & 30 N. Y., Gallatin Nat. Bk. 5 &6 M_-&·s. N. Y., Corbin BanK'g Co. 5 g. J. &D. do do 4 g. J. & J. N. Y., H.B.Plant , & Sav. J. & J. 7 N. Y. L Erie & W. RR. 3¼ J. & D. N. Y. L. Erie & W. RR. J. & D . 7 do do 5 g. M.& 8. N. Y., Union Trust Co. 6 F. &A. do do J . &D. 6 do do 6 &7 Various N. Y., Gallatin Bank. 6 g . . .J. & J. N. Y., 1st Nat. Bank. g 2,000,000 1,000,000 550,000 3,000,000 580,000 950,000 2,380,000 1,114,000 1,300,000 3,920,000 626,000 1,500,000 5,500,000 J. ·&:o. N. Y., Central Trust Co. 6,500,000 584,000 7 g. M. & 8. do do 825,000 6 g. A.. & o. do do 1,905,000 5 g. A.. & o. do do 5,000,000 A.. & o. do do ~ g. 150,000 J. & D. dt1 do 3,857,000 5 g. J. & J. Last p aid July, '84 2,250,000 412 g. J. & J. N.Y.,8.Pac.RR.,23 Br'd. 1,600,000 J. & J. do do 6 2.S98.000 3& .r. & J. do do 1,257,250 2¼onpf. A.. & o. Phila.,Of.,233 So.4th St. 490,000 g. J. & J. Phila., Farm. & M. B'k. 497,000 A.. & o. do do 350,000 6 J. & J. do do 350,000 F. & A. Phila.. Penn. RR. Co. 6 ··:r i' i FISCAL RESULTS. 1884. 1885. 990 990 $ Earnings$ Passenger .••..••...• 666,922 691,174 Freight . .•...•...•... 2,284,542 2,024,175 Mall, express, &c .••• 105,362 117,797 Tot. ~oss•earnings 2,796,459 3,093,513 Oper exo. and taxes 1.917,769 2,189,543 Net earnings - -078,690 - --903,970 · • • · ·: • • 68·57 70·77 P.c. op. ex. to earns. INCOME ACCOUNT. - 1885. 1884. Receipts$ $ 878,690 903,970 Net earnin~s .•••..•• 31,108 83,798 Other receipts .•••.. ---,-~,---. 987,768 909,798 Total income ...••• _Miles operated ••••.. Disbursements- Jan. 1, 1932 Oct. 1, 1924 July 1, 1915 May 1, 1937 Jan. 1, 1927 June 19, 1888 Mar. 1, 1911 June 1, 1938 Jan. 1, 1938 Jan. 1, 1896 Dec. 1, 1888 Dec. 1, 1916 Sept. 1. 1937 Feb. 1, 1921 Dec. 1, 1922 Various. July 1, 1908 June··ci9a6 Sept. 1, 1909 Oct. 1, 1920 Oct. 1, 1921 April l, 1934. June 1,1927 Oct. 1, 1931 Jan. 1, 1912 Jan. 1, 1891 July, 1905 A-prtl 16, 1888 March, 1893 Oct. 1, 1904. July 1, 1911 Feb. 1, 189 1886. 1,039 $ 1887. 1,046 662,485 2,141,646 129,178 2,933,309 :t,132,404. ~00,905 72·69 691.129 2,174,174 139,659 3,005,962 2,225,906 700,056 74·04 1886. $ 800,905 63,252 864,157 780,057 95,789 875,846 1887. $ 767,127 Interest on debt..... 573,663 742,275 749,898 Const'n,, improvem't, equipment, &o.... 108,169 137,775 56,925 140,067 Tot. disbursem'ts 681,832 880,050 806,823 907,194 Balance ..•...•..•.••. sur.227,966 sur. 107,718 sur.57,3&4 def.31,34.8 -(V. 44, p. 90,184,494,619; v. 46, p. 610,649; v. 47, p.472.) Cairo Vincennes & Chlcago.-Owns Cairo to Tilton, Ill., 258 miles; orancb, St. .Francisville, Ill., to Vincennes. Ind., 8.; trackage, 12 m.; total. 278 .miles. This was formerly the Cairo Div. of the Wabash St. Louis & Pacific. In July, 1887, a decree was entered by consent relea&ing this road from liability on all Wabash claims. Receiver's certi.fl.oat,es for $726,161 have been issued. All the above bonds have been deposited with Anthony J. Thomas a.nd Charles E. Tracy, bondholders' committee, preparatory to reorganization. From May 1, '88, to Nov. 30, '88 (7 mouths). gross earnings were $448,641, against $477,865 in 1887; net, $160,917, against $184,776. In the year ending April 30, 1887,gross earnings were $710,661; net, $161,263. In 1887·88 gross, $763,035; net, $251,397; paid rentals, $-1.1,567, and interest on receiver's cer tificates, $39,430; surplua, $200,401.-(V. 45, p. 214, 614, 819, 855.) Calif'ornlaPacUl.c.-Owns from Vallejo, Cal., to Sacramento, Ca.I., 61 miles; branches-Vallejo Junction to Vallejo, 2 miles; Adelante to Calist oga, 35 miles; Davis to Knight's Landing, 19 miles; total operated, 115 miles. Leased for 29 years, from July 1, 1876, to Central Pa.c., but in Nov., 18~6, new lease 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. In 1886, gross earnings were $1,233,641; net,$ >74,082. In 1887, gross, $1,207,372 ; net, $631,087. CaJDden & Atlanttc.-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 com. and$451,950 pref. stock. An issue of 5 p. cs. under oonsol. mort. has been authorized. From Jan. 1 to Nov. 30, 1888 (11 mos.), gross earn's on mainline a.ad branches were $660,729, a~a.inst $ ;44,920 in 1887; net, $133,244, against $144,878. Dividends smce 1880 have been: On common, in 1882, a per C".! nt, and none since; on preferred, in 1881, ·3-½3 in scrip; in 1882, 4; in 1884, 7; in 1887, 5; in 1888, 212. On main line and branches in 1887 gross earnings were $678,644; net, $13e,564.; surplus over fixed charges, $56,539; dividends (5 per cent), $43,988. In 1886, gross, $599,090, net, $129,775; sm·plus, $51,610. -(V. 44, p. 494; V. 46, p. 218.) Cam.den & Burlington County.-Owns from Camden, N. J., to Pemberton, N. J., 23 miles; branch, Burlington, N. J., to Mount Holly, 7 miles; total, 30 miles. Leased to Camd"en & Amboy Railroad Co.. and now operated by the Pennsylvania. Railroad Company,1.}~ssees of United Railroad & Canal Company's lines. Lease rental, ~,415, being 6 per cent on stock and bonds, and $500 for organization expenses. Capital stock $381,925. Dividends in january and July. Canada Southern.-LINE OF ROAD-Main line from Cantilever Bridge to Windsor, Ont., 226 m.; branch, A.mherstburg to Essex Centre, 16 miles; Fort Erie Br., 17 miles; Oil Sprtngs Br:, 3 miles; St. Thomas, Ont., to Courtright, Ont., 63 miles; Erie & Niagara., 31; Sarnia Cb.atha.m & Erie, 7; Canada Southern Bridge & Ferry, 4; Toledo Canada. Southern & Detroit, 56, and Michigan Midland & Canada, 15 ; total of all lines operated, 436 miles, of which 105 miles are nominally owned by proprietary oomuanies under separate organizations. 'l'he Canada Southern Railway Company was chartered in Canada February 28, 1868, and the main line opened November 15, 1873. Default was made and debt read.justed by Act of Parliament in 1878. Interest on the 1st mortgage is guaranteed by the New York Central RailrQad Co. till 189!:l; but the principal is not gulll"a.nteed. In Nov., 1882, a close contract wa~ made with the Michigan Central for 21 yea.rs from Jan. 1, 1883, providing for the operation of the roads jointly and paying from the net earnings the :fixed oha.rges of both; tben the division of the remainder between the two, in the rate of two-thirds to the Michigan Central and one-third to the Canada. Southern, but the Michigan Central ls entitled to an increase RAILROAD STOCKS AND BONDS. JANUARY, 1888.] V R \ G MAP OF THE BUFFALO,ROCHESTER PITTSBURG R. R. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AND 23 INVESTORS' SUPPLEMENT. rvo1,. XLVDL wm conCer a grea1 Cavor by giving lmmedla1e notice of any error dl■eoYere• In 1he.e Tables. Bcmdtt-PnnoiDEBG"RIPrION. INTEREST OR D rvIDENDS. Miles Date Size, or pal. When. Dne. Amount Por explanation of column headings, &c., see notee of of Par When Stoelu-L&n Where Pw;able, and by Rate r.r on first page of tables. Road. Bonds Value. Outstanding Oen. Payable horn. Dividead. h'bHrlbera Canada Sout~tock ..•..••...•..••...•..••..••. 436 let mort., interest guar. by N. Y. C. & Hud. Riv .c 404 2dme~·-···················· .............. o&r 404 4,960 0 ~ rJo~:~~::-~-::~!: gueooc Prov. due on Q. M. O. & O. and N. S. RR .. Land mortgage bonds, gold (redeemable a.t 110) .. let mort. debent. sterling ..•......•••.•••.••..••... 2,856 let mort. on Algoma Bra-nch, £ ...••.•......•. o•&r 183 Land gr. bds.. not d'rn, int. gu. by Can.Gov' t-. c*&r Manitoba 8.W.Col.Ry, $12,000 p. m .. int. guar.,g. 2i·s Atlantic & Northwest-1st M., g., guar ....... c"&r 325 Op. Fear rl Yad. Val.-lst M.,ser.A$10,000 p.m. c*&r. 150 let M., Ser." B," $10,000 p. m ................ o·&r 75 Carolina Ventral-1st mort!age, gold, coup. or reg. 242 2d M. (for $1,500,000), go d, income, non-oum . . r 242 3d mon., gold, income, non-cumulative .......••. r 158 OarHn ~ Oolorado-lst mortgage. Series "A" . .... 158 Second Div. M., Ser. '"B.," June. to Cal State line. 34 Oata1.1nasa--Common stock .....•...... . ..•.•........ 98 Pref. stk. (,S'l,200,000 1s old pref.), 7 % gn. P. & R. 98 let mortgage, assumed by Phtla. & t:Wadiug ....•. Mort.gage bonds .................................... "ii3 34 O~gu d; Sus~-Stoc.1r, 9 p. c. reutai D. L. & W ..•• 0 ar Falls rl inn.-Bonde on 2d div .. sink. f'd .c* 61 Cent.Br. U.P.-lstM.Atch.&P.P.RR ,g.,$16,000p.m. 100 Funded interest bonds (OOU;IJODB held in trnst) ... ..... 2d mort. (Government subsidy)............ . . . . . . . . 100 Central R. R. ~ Bank, Ga.-Stook ..•....•....••.... 1,219 Genera] mort. "tripartite" bonds, ..•...•........ c* 620 Collat.eral trnst bonds,gold, redeemable at 110.c· ··-· Certs. of debt, paya.t>le at option after July, '91.. .... Ocean BS. Co., 1st M., p:uar.. s. f . $ I 00.000 T Mrl:v. ~3anee=riit:°r~ --- --· $100 $15,000,000 . 1,000 13.920,071 1878 1883 l,OOO&c 5,100,000 100 65.000,000 1,823 3 .iH ' 8·2_;83 7,000,000 3,~6;:J,000 1881 500&0. 1885 £100&0 34.998,ti33 13~8 .£ 100 &c .£750,00•1 1888 .£ tOO&c 15.000,000 1,000 2,544,000 1884 1887 £100 &o 6,6:i0,000 18~ti $1,000 1,500,000 1,000 (1) 1 886 2,000,000 1,000 1881 1,000 1,200,000 1881 1,000 1,500,000 1881 1881 1,000 2,250,000 1,000 510,000 1883 1,159,500 50 50 3,200,000 230,500 iss2 1,300,000 1870 500&c. 30 589,110 iS'66 500&c. 1,377,000 186"i 1,000 1,600,000 1,000 6:-S0,000 1879 1,600,000 '66-7-8 1.000 100 7,500,000 4,9 H9,000 1,000 1872 1,000 10,000,000 1887 100 4.600.000 1881 !l~7.00() 1~~2 1,000 ·--· .... .... -- F.& A. N. "\'. Grand Oen. Dep. 114 5 5 l½ 5&6 5 5 ~- 5 g. 5 g. 31.gg. 5g. 5 g. 6g 6 g. 6 g. 6 g. 6 g. 6 6 ..3ig 6 7 4¼ 7 6 g. 7 g. 6 4 7 5 g. 6 J. & J. N. ., Union Trust Co. M.& S. do do F. & A. N.Y.,59WaUSt.,& Lon. Various JIIontreaL A. & O. do A. &O. Montreal,N. Y.orLondon J. & J. London, Baring B. & Co. do do J. & J. do do J. & J. .J. & D N, Y. , !'>9 W11,ll & T..ondon. J. & J. Loncton,Bat·in~ Brs.&Co J. & n. N.Y., Farm. L.& Tr. Co. do do J. & D. J. & J. N. Y., Bait. & Phila. ........... J. & J. A. &O. New·Y·oi=1r. J. & J . do J. &: J. Feb. 15, 1889 Jan. 1. 190 s Mar. 1, 1913 Feb. 18,1889 1899 & 1910 1902 & 11104 Oot. 1, 1931 July 1, 1915 Jnly 1, 1937 July 1, 1938 Jnne 1, 1934 Jan. 1, 1937 June t, 1916 Jnne 1. 1916 Mch. 31, 2000 July 1, 1916 Jul{, 1, 1910 Ju y, 1911 July 1, 1913 M ..&..N. Phila delphia Co.'s office Nov."io:·i88 8 F. & A. Phila. , Phila.& Read.Co. Feb. 1, 1902 F. & A. Feb. 1, 190 0 do do J. & J. New York, 44 South st. Ja.n. 3, 1889 J. & J. L ast pail Jul_v , 18 'j7. Jan. 2, 1907 M.&N. N. Y.,1!.l5B'y &Un.T1•.Co May 1, 1895 do do M.&N. May 1, 1895 U.S. Treas .. at maturity. 1896, '97, '9 8 J. &·n. N.. Y, EI. B. Holli us &3av .. Dec. 21, 1888 J. & J. N. Y., Mere. Nat. Bank Jan. 1, 189 3 M. & N . do do May 1, 1937 Savannah, Ga. After July, '9 1 J. & J. .T. & .T. /'i. Y .. MPr<'. N11,•. B11.nk. .T<1-n • 1 q9 - - - - - - - - - - - ' - - - - - - - - - - - -·----------------------------------------2 R on 1his proportion as it diminishes its fixed charges, and hence receives interest. etc., $5,967. Wilmington Bridge bonds, $215,000. at 7 p. c , are guaranteed by this Co. a.no the Wil. Col. & Au...st., and interest pa.Id now mu1·e than two-thirdE'. Dividends since 1880 have been: in 1881, 21ii per oen•; in 188~. nil ; Oar•on & Colorado.-(3 foot ~a.uge.)-From Mound House Nev., to in l 883 anct 1 8 84, 2; In 181:15 and 1886, nil; in 18 '37 a.nd 188 · , 2½; in Oa.ndelaria., Nev., 158 miles; Junction, Nev., to Keeler, Cal., 141 miles;· 1889, to date, 114. In 18~8 the surplus to C. S. was $3-12,000; for 1887, surplus, $3to,- total 29!j miles. Road follows the valleys along eastern side of Sierra 870 and balance over dividend of 2½ per oent, $165,000. For JatMt N"e-rnda Mountains. Stock, $6,380,040 authorized; $2,760,000 i88ued. reports of earnings see Michigan Central. (V. 46, p. 783, 802; V. 47, No information lurnishP,d, H. M. Yerington, Pres't, Carson. Nev. Catawl••a.-Owns from Tamanend, Pa., to Williamsport, Pa. 94. p. 802. ) Canadian Pacific. -( Su Map.)-The main line extends from miles: branch, Summit Station to Silver Brook, 4 miles: total opera.ied, Montreal to Vancouver on the Pacific coast in British Columbia. 98 miles. There are Olltstantling $271,850 loans of various dates. 2,906 miles. There are branches and auxiliary lines owned of 925 Leased from November 1, ld72, ror 999 yea,rs to Philadelphia & miles, and 1,129 miles of lea.sect lines, making the whole system 4,960 Reading. Rental, 30 per cent or ~ross e arnings and $8,00J a year tor mllee. (See details in CHRONICLE, V. 46, p. 619.) The road was opened company expenses. Funded debt was assumed by lessees. Seven per cent is guaranteed on the prefe1Ted stocks. (V 43, p. 387.) throughout the first of July, 1886. The Canadian Pacittc was incorporated February 18, 1881. under a Cayuga & Su•quehanna.-Owns from Susqnehann11, River to Ithaohart._.:r l'rom the Dominion of Canada. The company ha.d an important ca, N. Y ., 34 miles . .Leased in perpetnityto Dela. Lack. & West. at a rental oontract in its charter, receiving from the Government $25,00U,OOO in of $54,600 a year. Dividends on capital, 9 to 9½ per cent per annum. oasb as a sub1ddy, also 25,000,uOO acres of land, all to be flt-for settleCedar Falls & 1'.llnnesota.-Owns from C. F. & M junction ou ment. In Nov., 1883, the Dominion Government gave a gnarantee of 3 per oeut dividends per annum for ten years on $65,000,000 of stock. the D. & 8. C. R&. near C~dat· Fa.118, la., to Minn. State Line, 76 miles. to Dubuque & Sioux City for 40 years from January 1, 1867 In May, 1838, 1he company voted to relinquish its ex:clusive right to Leased build and operate in Manitoba, receiving the Dominion Goverument at $1,500 per mile as a minimum and a contingent of 35 per cent ol guarantee or interest on $15,1100,0011 of land grant l:>oods These bonds gross earnings from $3,500 to $7,500 per mllP and of 30 per cent of excess over $7,500 per mile; minimum rental ts $113,370 per annum. for £3,093,7l, O are a lien on 14,S~4,233 acres of land subject only to any The Dub. & 8. C. was acquired by Ill. Central through ownership or ita $3,4tIB,000 land p:ra.nt bonds of 18~1. stock in 1887, and a suit is pendiug to annul the lease of this road. In• The Manitil ba. Southwestern Colonizatlon Railway, extending fr ,m Winn1pe~ southwesterly, is leased for $600 per mile yearly, inte1·est on 1erest was defaulted Jan., 1888. Capital stock, $1,586,500. From Oot. 1, 1887, to De o. 31, 1887 (3 mos .), gross earnin~s were $27,313; deficit bonds being gua.ra.n1eed. To the Atlantic & Northwest RR., crossin~ the State of Maine, the under Pxpeuses an l taxes, $8,92;:s. J. Kennedy Tod, P.resident,N. Y. Dominion Government grants a subsidy of $186,uOO per year till 190ti -(V. 45, p. 1:llU, 855; V. 4o, p. 7-1, l0l, 199, 283.l .and Oan. Pao. ~arantees the balanci' of money necPssary for interest. Central Branch Union PaciO.c.-( Su Map Mo. Pac.)-Owns r:rom The lands in posseR,;ion of the company arE'I a.bout 14,9:34,237 acres. Atchison, Kan., to Waterville, Kan., 100 miles; leases Atchison Col & The land b< nda of 19~1 are receivable for lands and may be paid off at Pac. 254 miles ; Atch. J. Co. & W., 3-1 miles; total operated, 38 ➔ miles. 110. There are also $4:.16,03) North Shore Rai.lwav 1st mort, b m"s. The Un. Pac. Cent. Branch w as formerly the Atchison & Pike's Peak RR., Dividends sino1-1 1882 h><ve been: lu 188 3. 2½ per cen t ; in 188!, 5; and was one of the roads embraced in the aot of Congress inoorporating in 1885, 4; from 1880 to date, at the rate of 3 per cent yearly. the Union Pacific RR. The stock is $1,000,000, or which the Union From Jan. 1 to Nov. 30, 1888 (11 mos.), g ro:1.,ea1nm11 s were $12.049,· Pacitto owns $85-1,800. The company received a Government su0sidy OOt . aJ?ainet $10,454,672 in 18~7; net-, $3.45:l.10 ~. against $3,1 l0,411. of $1,600,000. It is operated as a oart of the Missonri Pa.oifio The annual report for 1887 was published atleugth in tne CHRONWL!!;, system under a 25 yea.rs lease, made Sept., 1885, by which the net earnv. 46, p. 608, 617: ings are paid to Union Pacific a ~ renta l. [n 1837, gross earnings, OPER~~TIONS AND FISCAL RESULTS. $L. l39,46J; net in<'ome. :6383,579; d eficit under charges and dividend, $l62,802. 1>1vidends p rior to cure. nt y ear h ave been; In 1885, 5 -per 19q7_ 1885. 1886. cent; in 1880, lU; iu 188 7, lll; 111 1888, nil -(V. 46, p. 321.) . 4,960. Miles operated Dec. 31.... 4,338 4,!64 2,057,01<9 Passengers ca.-rried, No.... Central KR. & Banking Oo. of' Georgla..-(See .Jlap .)-Owns 1,66 l.719 1,9!l9,319 174,687,802 from ciavanua.11, Ga., to Atlanta, Ga .• 29-i m.; t>ranch, Gordon to MilPassenger mileage ........ 116,702,980 150.466,149 1·9-i eta. Rateperpassengerprmile 2·45 cu~. 2·10 ot s. ledgeville, 17 m.: lea.see in p erpetuit y-.A.ugusta & Savannah RR., 53m.: 2,144,a27 Eatonton Branch RR., 22 m.; Southwestern RR. and branches, 333 Freight- (toue) carried..... l,99o,3f-5 ~,0!6.195 687,786,04':I miles; lea3es till 1985 Mobile & G ir a rd RR., 85 miles; controls by ownFreight (tons) mileage .••• 406,P2:t,166 555,4::1 8,159 l·OOti cts. ership of stock-3avanua l1 & Western RR .. 335 miles; Moutgomery ~ e p~r ton per mile..... l •;.Weta. l ·10 ots. & E11raula RR., 1:1 0 miles;• total operated and praotioallJ owned .Earn1,nq11$3,453,8l8 Aug. 31, 1888, 1,219 miles. Auxiliar/ syatem (the earnings of $3,170.714 PassPnger. ................. $2,859,223 6,924,130 whfoh Me r eported "eparately) incl nd es, besidPB other lines, West6,112,380 Freight.................... 4,81n,8 ..; 6 l,2ZQ.4•l:'> ern RR. of A.la1:>am1,, ld8 miles : Geor~a RR., 3)7 miles; Port 7~€."710 Mall, express and ~.c't1s. 627,404 $1 L,6110,-l liS Royal & Augusta, t I~ miles; A. tlallta & west P<>int, 87 miles; Port $1U,o -l,-.U4 Total earninp:s.. .•. . .•• $8.3ot!,-l •;i 8.102.2 ,5 Ro yal & West. Car. 229 miles, and Sa.v. G. & N. Al .. 60 miles, und em6,378,317 Operating expenseP...... 5,143,276 ...a in ail, 984 miles. G r and total of Cent. RR. mileage, 2 203 miles. $3,50 .. ,lll:l lJrao $3,703,487 Net earnings . ••. . •• . . . • . .. $3,225,217 A.lso owns e utire stock of Ocea11 s,;. Co. In th"3 auxiliary lines the Cen69·iSl 63·26 . Perot.of op.e:xp.toearn'g11 61·46 tral RR. owns part intere~te, eittier half or greater, represented A.u~. 31, INCOME ACCOUNT. 18~8. by$ i,46l,6U stocks and $ 1,119,700 bo od~ or mortgage no~ 1886. 1887, [n 188L ti.le Georgia RR. was leased for 99 y~ars m the ~nterest ~f this Net earnings ................................. $3.703,487 $1,504, l 18 company and the Lonisville & Nashyille, which op~r~te 1t gn jomt aoFixed charges ................................ 3.0fH,0 t-2 3,2~0.264 oount. This company and the Georgia RR. Co. areJomt owners of the SurplllB ................................ •. . :ti6;:Jo.445 - $ !5 3.~5 ~ Western RK. of Alabama., 138 milt's. The "tri-partite" bonds were -(V. 45, p. 52, '239. 400; v. 4fl, p. 38,102, «~. 4•0. 608, 609, 611, issued jointly b:v thlia company, the Macon & Western and the Southwestern. For al:>stract or deed and securities deposited to the c ollateral 634,708,770, 771 (~. S . W. C.l; V. 47, p. 50, 170, 472.) trust bonds (Ut>ntral Trust Co. or ~ew Y ,,rk, Tr11etee), see V.45, l> 242. Oape Pear & Yadkin Valle.,-.-InoperationfromFayetteville, N. The Central RR. & Banking Co. was contNlled by the ownership of a C., to Bp,nnett.sville, S. C., 57 miles; f<'ayettevill1--1, N. C., to ~t - Airy, majority of its s tock by the Georyia Oo,apa-, iy, and io O .:t, 1888, the fi. C., 168 miles; Factory branch, 10 m.; total, 235 miles. Projected, stouk or this 19.st-nareed corporation was sold to the Richmond ,11; We!ft and partly gradl'd, from Fa.yettPville to Wilmington, SU miles: lsL m •rt. Puint Tt>rminal, givmg tha.t company control of th · Central Georgia covers tbis division only, in addition to the two divisions now in opera- dystem. (See v. 47, p. 499.) _ tion. Serie& "B" bonds are a I st mort. on road from Gret-111 sboro to Dividends sinCA 1881 have been: In 1882, 8 per cent; in l r:s8 J, 719 :Mt. Airy and a, i:econd on the other two divisions. North State Im- in 1884-, f ½; ID 188 >, 4; in 1886. 6; in 18n, 8; lil 1 ~83, 8. F1·om July t, ' e 8, t •1 Nov. 3 ,1, '88 O mos.), gross earnlngs w ere $3,372,· provement Co. holds $750.000 2d mort. income bonds. The total 11t,ock is $810,35 L (par $L OO), $793/>50 bein,z; outstanding April 1, '8:<. 8 U, agaim1t $3,309,131 in '86-87; ne r., $1,331,~49, agal n"t :tll.88 i ,9 H.J. From April l to Alli?, 31 in 11"8R (3 monthsl, gross earuings were Fiscal y-ear ends J 11ne 30 (ch ,mged from Aug11st 31 in 1888.) Prcs1$121,360, against $~7.3H8 in 1887; net, $48,611, n.gdinst $12,802. ln d~nt's report for 1887-8 was 1n V. 47. p. 285; see also article, p . 274.. 1885-6. 188 i-i-7. "1887-8. year ending March 31,1>< 88, grot:ls earnings were $2\J L.5~0; n et, $L4:t,77.4 ·; in 1886->-<7 2ross, $236,066; n t t. $111,5d5; surplus over rentals <1-ross earnings .................... $4,0:i2,652 $4,421,R80 $1.874,96~ Expenses. ................ ..•••••• 2.~5,874 and inwiest, $46,797.-(V. 46, p. :n11.) 2 ,441.81 ~ 2,8 n,25 Carolina Ceutral.-Owns trom Wilmington,N. C., to Rr.therfordton, Net f'arnings railroads .••••••• $1,o7o,778 :i;1,97~.~65 $2,073, 1 03 N. C., 267 1u., an•t branch, 9 m.; total. 276 m. Formerly wr,.m. Char Net earnings steamship cos...... 4ti9,451 :.!74,194 5.?6,20 1 & ~1therford, chartered in 1855, and foreclosed May 3, 1873. Oc- Net bank and investments....... 36,220 35,5 ~1 119,0 16 ta.ulte41, and receiver placed in possession April 5, 1876. Sold in forf"Total net income of company $2,082,450 $2,280,641 f2, 718,920 olosure May 31. 18130, for $1,200.000. Controlled b_v- Seaboard & Roaneke and Raleigh & Gaston. Sto<Jk, $ l,200,00U. From Apri l 1 to Nov. vss interest and rentals . ....................... 1,301,087 $928,554 •••••••• 30l.18 ➔ 8, (8 mos.I gro~s earnings were $3-l0, Q37, a.uinst $3.t7,551 in Exoi>ss of income over fixed cha.rp:es..... •••• •. * Includes 12 months, July 1, 1887, to July 1, 1888. 181:17; n--,t $138,U9, a .! (amst "$9 t,874. In year 611dilL!{ M:arch 31, 1.883, -(V. 46,p.37; V.47,p.50, 226, 27-1, 284,285,410,499, 66~ V . .f.8..p.99.) gl'088 ~ g s were $527,199; net, $157,402; surplus over 1st mort. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ = ~ ~ tzj U1 H 0 ~ ~ ~ II II~ U1 11 II ~~ ~ t "? II 11B ~ (> II II~ ~ C MAP OF THE RAILROAD SYSTEM OF THE CENTRAL RAILROAD AND BANKING CO. L F 0 Jl OF GEORGIA 1 I><! ........~ !""' JANUARY, 1889,] RAILROAD STOCKS AND BONDS. will conf'er a great Cavor by pvlng Immediate notice ot any error dl8covered In these Table•• Bonas-Prmo1• INTEREST OR DIVIDENDS. DESCRIPTION. Miles Da.te Size, or When Due. Amount Rate per When Where payable, a.nd by pal, pa.r of Stocks-Last For e:x:pla.na.tion of column headings, &o., see notes of Whom. Cent. Payable Road. Bonds Value. Outstanding Dividend. on first page of tables. Sub•crlber■ · -- Central Massachusetts-Stock ($3,852,088 is pref.). Mortfage bonds, lntere1>t guar. by B. & L ...... o" Centra of New Jersey-Stock ..•.................... 104 104 6f>l ·-- i886 ---- $100 1 ,000 100 500&c. 1,000 1,000 1,000 1,000 1,000 50 1,000 1,000 100 1,000 1,000 i887 Gen. mort. for $50,000,000 gold (reg. Q.-J.) .. c,&r 1st mortgage bonds ............•.................. ·74 1869 1872 Bonds (convertible Nov., 1875 to 1877) .........• Consolidated mortgage ..•......................... ·97 1874 Am.Dock&Imo.Co. M. bds., guar. redeem. at 110. ...... 1881 1883 Debenture bds.: conv. into stock till 1907 .....••.. Central Ohi<>-Stock i!j,411,500 o1 this is pref.) ..... i'37 .... let mort. bonds, sinking- fund ...•.......•...•..... 137 Comol. lat mortg. (for $2,850,000), gold .••..•. c 137 isss Central Pacific-Stock ................................ 1,360 lstm., ~Id, (2 sink. f, $50,000 each), n.ot rrawn . 737 1865-8 letm.8. oaq'nVal.Br., g. (s.f. $50,000)not drawn . 146 1870 U. 8. Loan, (2d lien on certain term&) ...........•. 737 1~000 West.Pao., lst,s.f.,not ur'n($111,000,J &D,due'95, 147 i869 West. Pao., Government lien ..................... 123 1869 1:000 Cal. & O., 1st M.,sPr.A, g.g. {ext'ed)} s. f. notdr'n 296 1868 1,000 $100,000. 296 1872 do ser. B, Do 1,000 1870 Land grant 1st mort~a~e bonds, not drawn ...... 1,000 Railroad & land grant, gold, bds., s. f, not drawn c 483 1886 .... .... Central of Vt.-Stock, Consol. Vt. ($750,000 pref.I. ---· Stock, Uentral Vermont ..........................•. 709 ---· Consolidated RR. of Vermont, 1st mortgage ....• . 185 1883 100 &o. 29 Mtssissquoi Valley RR., stock, 4 p. c. rental ..... ·--1,000 1887 Char. Oinn. d Ohic.-lst M., g., ($25.000 p. m.) . . o" 1,000 Charleston d Savannah-Gen. M, $1,500,000, g ... c* 115 1~86 100 lat & 2d pref incomes, $1,000,000 each, non•cum. 115 1886 :;.oo Charlntte Oolitmbia d .Augusta-Stock ............• - . 373 1st mortgage consol. •...• _. .......... .. ........... 191 1869 500 &c. 1,000 2d mortgage ........................................ 191 1872 ---- $7,245,988 2,000,000 18,563,200 30,460,000 5,000,000 1,167,000 3,836,000 5,000,000 680,000 2, ► 60,048 2,500,000 1,000,000 68,000,000 25,533,000 6,080,000 25,883,000 2.725,000 1,970,000 6,000,000 5,865,000 4,261,000 12,200.000 1.050,000 1,000,000 7,000,000 500,000 4,612,!>CO 1,127.000 '1,000,000 2,578,00(1 2,000,000 500,000 --- --··ir A.·&·o. ..5.g. 7 7 7 5 6 3 6 41g g. 1 6 g. 6 g. 6 6 g. 6 5 g. 6 g. 6 g. 6 g. .... ---5 Boston Co.'s Office. J. .&.J . N. Y., 119 Liberty at. F. &A. do do M.&N. do do Q.-J. do do J. & J. do do M.&N. do do J. & J. Ba.It., at B. & O. office. do M.& 8. do M. &S. N.Y.&Balt.,B &0.office. 8.Pac.Co., 23 Br'd. N.Y., J. .&.J. do do A.. & 0. do do .J. & J. U. S. Treasury. J. & J. N.Y.,S.Pac.Co., 23 Br'd U.S. Treasury. Various J. & J. N.Y.,S .Pao. cl)., 23Br'd. J. & J. 'N'ew York & London. A. &O. do do A. & 0. N. Y. & San Francisco. --·· . ......... Loan &Tr.Co. J. .&.. J. Bost.• Am~ J. & J. St. Albans, Vt., Treas. $2 5 g. Q.-J. Bost. Sa.re D. & -T. Co. 7 g. J. & J. Charleston &New York. None paid. 7 .... N.Y.,Rich.& Dan.,2Wall 4 J .. &.J. do do 7 do A.. & o. do 7 oot·:r,--i9os i·; Jull • ·i987 Fe . 1, 1890 Nov. 1, 1902 July 1, 1899 July 1, 1921 May 1, 1908 Jan. 31, 1889 Sept., 1890 Sept. 1, 1930 Feb. 1, 1889 1895, '6, '7 &'8 Oct. 1, 1900 1895 to '98 July 1, 1899 1895 & 1899 Jan. 1, 1918 Jan. 1, 1892 Oct. 1, 1890 Oot.1, 1936 ·····--· Jmie "30: ·i91 a Jan. ], 1 889 July 1, 1947 Jan. 1. 1936 Irred3emable Dec. 5, 1888 Jan. l., 1895 Jan. 1, 1910 charges for transportation on its account, and also to receive 5 per cen 1i of the net earnings; the "Thurman" act of May 8, 1878, directed that the other one•half of charges for Government transportation should be withheld, and also that the company should pay $1, '200,000 yearly to the Government for the sinking fund of its debt or as much thereof as shall make the J per cent of net earnings, plus the whole transportation account, equal 25 per cent of the whole net earnings for the year. Deo. 31, 1!387. accrued interest due the Government amounted to $32,6-l l,8:-l8. and par value of securities in U . 8. Gov. i:ink. fd. was $2,81J,tt06. There was paid to the stockholders of the Oregon & Cal. RR. 80,000 shares of Centr..1 Pacific stock for their 0. & C. stock, bringing that property into the Central Pacific in 1887. 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 per cent; in 1889 to date, 1. Prices of stock since 1879 have been: In 1880,. 6311!9712; in 1881, 8019@102 7e; in 1882, 8238@9718; in 1883, 61 al88; in 1884, 30al67::\i; in 1885, 26lg@49; in 1886, 39@51; in 1887, 2312 ~43 38; in 1888, 26½1 • 37½; and in 1889 to January 18, inclUBive, 3518 w3 ·~. Most of the issues of bonds have sinking funds, as seeu In the table above, and these sinking funds are invested mainly in the bonds of other Huntington lines and accumulate; the bonds are not called in. The sinking funds amounted Jan. 1, 1888, to $6,241,653. The land grant bonds are purchased with proceeds of land sales. There was to the credit of the land grant bonds Dec. 31, 1 887, $ l,572,891, secured 1.Jy a depo~it of $1.500,000 bonds of 1936. Of the land grant mortgage of 1936 W. E. Brown and Frank S. Douty a.re trustees. THE LAND GRA.NT.-l'he totalland gra,n15ed the Central Pacifto and the California & Oregon companies was about 12,000,000 acres, of which abont 2,470,0ou acres had been sold to Dec. 31, 1887. In 1887 231,562 acres were sClld for $105,324 and tota.l cash receipts of Land Depl\rtment were $495.9-t6. Land contracts on ha.nd J .:1,n. 1, 1888, $1,117,408. OPERATIONS, FINANCES, &c.-The C. P. stock. after payinsi; dividends for a few years, pa.id notlling after February, 18~4, till 1888. In 1885 the road wa leased. as above, to the So. Pacific at a net rental guaran◄ teed of $1,200,000 per year, subject to the debts due the lessee coni~ pany, but in Jan., 1888 , the minimum rental wa,s r tised to $1,360,000, In 188 7 the floating debt was wiped out, and fir3t dividend under the lease was paid Feb. 1, 1888. The reduction of tb.e floating debt, waill a.ccomplished by the sale of materials to the So. P dO. Co. and the issue --report, V. 46, p. 571). .......... of bonds. (See Totals •.............. $11,552,152 $10,742,891 $809,261 GENERAL BALANCE SHEET, DECEMBER 31, 1887. Operating exp. & taxes. 6,425,772 6,284,098 143,532 . --· ..... Constmction Equipment ...•.........••......••...•. $167,404,012 66 - - - - - - MiscellanPousand 1,799,0:,5 07 Investments·· ·················-·········· Net earnings........ $5,126,380 $4,458,793 $649,731 . 1,117,407 53 pa.yments on time sales . . •. -Deferred Contracts. Land ........... 34,501 4,543,361 4,577,862 Fixed charges........... 1,790,194. 65 Ca h Assets over Floating Debt . . . •. . . • . . . .. . .•. . •• . . •• . ..•..•.. $631,277 . • . . . • . . $548,517 Surplus . • • . . . • . . . . . . Total Assets ··-···-·································$172,110,699 91 . .....•. . ..... .. $84,568 ..... ... Deficit...... .• . • . . . . . . . . . -(V. 45, p. 25, 112, 113, 135, 166, 271, 304, 402, 509, 572, 613, 696 Stock . . • . . . • . • • . . • • . . ••• . • • . . . . . . • •. . . . • • • . . • . . . • . $68,000,000 00 Capital 108.) p. 47, 705,855; v. 4.6, p. 37, 41, 133, 609; v. Funded Debt . .. . ................... .. $5?,8 80,000·oo Central Ohlo.-Owns from Bellaire, Ohio, to Columbus, Ohio Less Amounts held in S'nking Funds 137 miles. Chartered in 1847 and opened in 1854. Reorganized in of the Co , and Land Trust Funds... 7,814,543 68- 52,065,456 32 1865. Leased to the Baltimore & Ohio, for 20 years, Nov. 11, 1866; United States Bonds............. . ..... 27,855,630 00 rental, 35 per cent of gross earnings, with minimum guaranteed rental LePs payments ma.tie in full to date for of $166,000, and in 1880 the lease was extended to Dec. 1, 1926, the U.S . requirements, under acts or with the option of renewing for terms of 20 years perpetually. Sinking 1862, 1 864, and the Thurman Act .. 10,041,722 18- 17,813,957 82 fund for 6 per cents held Dec. 6, 1888, $772,000 company's bonds given G eneral Income A.ocount...•...•... ·-· 3,459,791 57 above as outstanding, and other securities valued at at>out $160,000. Income used for Redemption ot Land The consol. mortgage (Mercantile Trust & Deposit Company of Balti· Bonds . . • . . . . • . • . . . . . . . . . • • . . . . . . . . . . • 8,4.29, '298 46 more, trustee.) is for $2,850,000. In 1887·88 gross earnings, $1,199,282; Tncome used for Siuk'g F'nds of the Co. 12,300,473 56 net, $284,186; loss to lessee, ~163,971. The road between Newark and Income used for U.S. Requirements .. 10,041,722 18- 34,231,285 77 Columbus (33 miles) 1s owned jointly with the Pittsburg Cincinnati & St. Louis Railroad Co. Dividends on common stock since 1880 have Total Liabilities . ····-··· .••..••.••• ··-· .•••.•••.••• $172,110,699 91 been: In 1881, 61f; in 1882 and since, 6. (V. 48, p. 70.) From Jan. 1 to Oot. 31 ln 1888 (10 months), gross ea.min~ on 1,361 Central Paclfl.c.-( See .Jfap of Southern Pacific.)-Lnrn OF ROAD- miles were $13,234,288, against $1.1,127,529 on 1,361 miles m 1887; net. -Ma.in line--Sa.n Francisco, Ca.J., to Ogden, Uta.h, (including 11 miles $5,40!,689, a~aip.st $5,282,285 in 1887; surplus over interest, reetais. leased), 883miles; Lathrop to Goshen, 146 mil~s; Roseville Junction to &o., $1,251,755 m 1888. Oregon State Line, 296 miles; other lines 35 nilles; total operated and The annual report for 1887 (CHRONICLE V. 46, p. 571) showed gro9iS accounted for Jan. 1, 1888, 1,360 miles; Stockton & Copperopolis Rail• earnings $13,737,845; net profit due Central Paci.tic Railroad $1,086.road, 49 miles, is leased to Central Pacific, but operation11 are reporooji 733; balance due from So. Pacific (to make 1£llar&nteed rental) $113,267. separately. In connection with the Union Pacific, the Central Pacific - (V, 45, p. 52, 142, 166, 178, 179, 241, 34u, 400, 472. 613, 743, 819. forms a. continuous line from Ban Francisco, Cal., to Council Bluffs, 855, v. 46, p. 37, 38,199, 5'71, 609,737; v. 47, p. 21,140,352,410, Ia. (1,918 miles), which was opened May 10, 1869. 531, 624.) In March, 1885, the Central Pactilo lines were leased to the Southern Central or Vermont.-This company was organized in Aprll, Pacific Oompany. The Cent. Paoi.tio receives all its net surplus income 1873, under a charter from Vermont. It has no road of its own, bu1i above annual charges of every sort and betterments, a.nd a minimum operates a large mileage under lease. The Consollaated RR. of Verrental of $1,360,000 and a maximum of $4,080,000 (payable annually mont was organized July I, t884, embracing the former VermQnt Cenon May 1), is provided for by the lease, but this rental is first a.pplic• tral and Vermont & Canada properties, and was then leased to 1::he Cenable to the payment of Cent. Pac. floating det>t, if any, and no dividends tral Vermont. The stock of the Consolidated Vermont is $750,000 prewere paid uncter the lease on Cent. Pac.stock till Feb.,1888, when 1 per ferred 6 per cent and $300,000 common. The stook of the cent "as paid. Central Vermont is $1,000,000, and it operates under lease THE CHARTER, LE.ABES, &c.-The C. P. was a oonsolidation (Aug. 22, the following roads: Consol. RR. of Vt.-Windaor to Rouse's & Califorrna 1864), 8, Oct. (organized Paci:fl.o 1870) of the Central Poiot, 158 miles; Essex Juno. to Burlington, 8; Swanton. Juno. to Oregon, San Francisco & Oakland, San Francisco & Alameda and San Province Line, 11; Rutl1.nd RR.-Bellows Falls to Burlington, 120; Joaquin Valley railroads. The act of Congress of July 1, 1862, granted Addison RR.-Leicester Juno. to Ticonderoga, 16; Montreal & Vt. U. S. bond subsidies and lands to the Paci:fl.c r ailroads; the act of July, Junction-Province Line to St. Johns, 26; S.S. & Chambly RR.-8. S. & 1864, made the lien of the tlovernment subject to that of the tlrst mort C. June. to Waterloo, 41; Ogd. & Lake Champlain RR.-Rouse's Point gage bonds. but authorized the Government to withhold one•half the to Ogdensburg, 118; New London & Northern RR.-Brattleboro to Central lliassachusetts.-Formerly the Massachusetts Central. Bold in foreclosure Sept. 1, 1883. Road from Boston to Northampton, Mass., 104 miles. Leased to Boston & Lowell for 99 years from Oet. 1, 1886, at a rental of 20 per cent of gross earnings up to $1,000,000, but with a guarantee of sufficient rental to pa,y interest.-(V. 45, p. 642.) Central of" New Jersey.-(See Map)-Owns 41~ miles, leases in perpetuity 193 miles and controls 46 miles; total, 651 milee. The principal leased lines in Pennsylvania are the Lehigh & Susquehanna and the Lehi~h & Lacirawanna, with their branches. &c. The minimum rental of Lehigh & Susquehanna is $1,885,800 till 1893, and after that $2,043,000. A majority of the Lehign & Wilkesbarre Coal Company's atock is 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 oy Central of New Jersey and receive interest after all other bonds are satisfied. The entire capital of the American Dock & Improvement Companv, $3,000,000, is owned by the Central of New Jersey Railroad Company, and the ri~ht exists to purchase the bonds by lot at 110. Receivers were in possession from Jan. 1, 1887, till Jan., 1888, when the road went back to its owners. Of the general mortgage of 1887 see abstract of mortgage V. 45, p. 402. Trustee of consolidated and general mortgages is Central Trust Co. of New York. The full statement of the company's proposal to each olass of debt, with status, &c., was given 1n v. 44, p. 714, 716, and the receivers' report at length in V. 46, p. 41 Dividends since 1882 bave been: In 1883, 112 per cent; in 1884, 412; nothing since. From Jan. 1 to Nov. 30, 1888 (11 months), gross earnings were $12,200,2tH, against $10,432,196 in 1887; net $5,58r! ,768, against $4,575,116; surplus over fixed 0barges (exclusive of income from investments) $1/244,737, against $388,992. Operations for 1887 showed the following earnings and fixed charges this ls upon the basis of old fixed charges prior to the reduction of about $335,000 per annum under the recent reorganization) : Inc1·ease. Decrease. 1886. 1887. Earnings from$9,862 . . . . . . .. Passengers.... ... .. . . .•. $2,211,405 $2,221,268 .•...... 2,835,559 $591,591 3,427,151. Freight and express.... 287,662 5,180,5~0 5,468,253 Anthracite coa1.._...... ..•..••. 24,047 23,533 U. 8. Mail............... .....••. 481,424 421,808 Miscellaneous........... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---.. --· https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEME~T. [VOL. XLVIII. AND CONNECTIONS. ·RAILROAD STOCKS AND .BONDS. JANUARY, 1889.] MAP OF CHARLESTON, CINCINNATI CHICAGO AND RAILROAD AND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. 30 (VoL, XLVllI, Sub•crlber• -will coof'er a great Cavor by glYlog llnmediate notice oc any error discovered In these Table•• INTEREST OR DIVIDENDS. Bonds-Prlncl DESCRIPTION. Miles Date Size, or Amount pal,When Dne, of Par Outstanding Rate perl When Where Payable, and by Stocks-Last For explanation of column headings, &c., see notes of Road. Bon.fu1 Value. Cent. .Payable Whom. on first page of tables. Dividend. Charlotte 0olumbia cl A.ugusta-(0ontinued)- COlumbia & Augusta 1st mortga e ..•..••...•..••. COnsol. mortg., gold (for $3,000. 00) .............. Chatt.Romed OoZ.-lst,g. ($2,240,000)$16,000p.m.c* Chartiers-lat mort.e:age ............................ c Chesapeake cl Nash....:lat m., g.,$25,000 pm. s.f... c* Ohua,peake cl Ohio-Purch. money funding bonds ... lat mortgage, gold, series "A" ...•...•..... ........ 1st mortgage, gold, of 1911, Peninsula Extension lat mort., gold, of 1922 on exten. (for $3,000,000) Consol. mort. for $30,000,000, gold .•••.......... Equipment trust bonds ..••......•...•...........•. Elevator Co. bonds, guar. C. & 0 .......•....••. Ches.Ohio cl Southwest.-lat I .1 g. ($19,000p. m ).o* 2d mortga!ifz ($11,000 per mile) ............... .. c• Pa.due.& E · .,latM .. s.f.,dr'n. at 100($300,000 8n) Equipment trust bonds for $2,000,000 .......... o* Oheshire-BtocK, preferred ..•.........•............. Bonds, not mort., $550,000 due July 1, 1898 ... c~ Ohu';E_o cl Alton-Comm.on. stock ..............•..... Pre erred st'ck (7 p. c. y'rly not cumulative) .••.. Gen. mortgage, sterling, for £900,000 ............ 3 W, }~t!:trt1t1~:; ;.; per.cent'. ·sto·cir: guar: ·by· c.. & A: Bt. Louis Jackson.ville & Chio., 1st M., assumed. lat M. end. by Chio.& Alton do do 2d M. endorsed by C. & A .. do do 2d M., assumed (Conv.) ... do do La. & Mo., lat M. ($439,100 assumed by C. & A..) do 2d M. (int. guar. C. & A.) ....... .. ....... do guar. oref. stock .................•..... 8. f. bds.for K.C. St.L.&C.(lst M. as collat )not dr'n Pref stock K. C. ot. L . & C., guar ..._.............. -- -- ---· 1865 1883 1887 1871 1987 1878 1878 1881 1882 188;} Var. 1838 1881 1881 1877 1882 i¥o 23 35 428 503 75 8 655 .... 353 351 186 .64 850 850 322 220 38 150 37 37 150 101 101 i62 162 '76-;78 --·· i873 1862 iss4 1864 1868 1868 1870 1877 is1s -·-· ----1------ ·--- --$189,500 Nil. 2,090,000 500,000 875,000 2,2~7,000 2,000,000 2.000,000 J 42,000 l 7,4'16,000 855.000 800,000 6,176,000 2,8H3,000 1,000 1,000 491.000 1,000 755,000 2,159,300 100 80u.ooo 500 &o. 100 14,112,000 100 3,479,500 1,000 4,379,850 1,000 2,383,000 1,500,000 100 1,000 2,365,000 1,000 564,000 1,000 188,000 1,000 4-1.,000 1,000 1,785,000 1,000 300,000 100 329.100 1 ,000 2,417,000 1,750,000 100 $ ..•. 1,000 .l,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 (ooo 7 6 g. 5 g. 7 5 g. 6 g. 6 g. 6 g. 6 g. 5 g. 6 4 6 g. 6 6 &8 6 3 6 2 2 6 g. 7 llli 7 7 7 7 7 7 312 6 g. 112 - J. & J. N.Y.,Rich.&Dan.,2Wall .Jan. 1, 1890, J. & J. do do July 1, 1933 M. & S. N. Y., Simon Borg & Co. 1937 A.. & O. Philadelphia, Penn R.R. Oct. 1, 1901 F. & A. N.Y.Offlce,Mills B'lding Aug. 15, 1937 J. & J. N.Y.,Drexel, Morg. &Co July 1, 1898 A. & O. do do July 1, 1908 A. & O. do do Jan. 1, 1911 J. & D. do do June 1, 1922 M. & N. do do May 1, 1939' VariollB do do Various. A. & 0. do do Oct. 1, 1938 F. & A. N. Y., 23 Broad Street. Aug. 1, 1911 F. & A. do do Feb. 1, 1911 F. & A. do do Feb. 1, 1897 J. & J. do do Yearly to 189Z J. & J. Keene, N. H., Office. Jan. 10, 1889' J. & J. Boston, Office. .July l,'96& '98 Q.-M. 5 N.Y.,JohnPaton&Co. Dec. 1, 1888 Q.-M. t a nd Uhic. Treas.Office Dec. 1, 1888 J. & J. Lond'n,J.S.Morgan&Co. July 1, 1903J. & J. N. Y., John Paton & Co. Jan. 1, 1893 Q.-J. N. Y. U.S. Trust Co. Je.n., 1889 A.. & 0. N. Y., John Paton & Co. April 1. 1894A.. & o. do do April 1, 1894 J. & J. do do July 1, 1898 J. & J. do do July 1, 1898 F. & A. do do Aug. 1, 1900 M. & N. do do Nov. 1, 1900 F. & A. do do F eb. ·l, 1889' M. & N. do do May 1, 190:J Q.-F. N. Y., John Paton & Co. Feb. 1, 1889 New London, 12 t; Brattleboro & Whitehall RR.-Brattleboro to London- tion. of this plan the operating- of the R. & .A.. is con.ducted by the C. & O • derry, 36; M'tpelier & White Riv. RR.-M'tpelierto W'matown, U; Mis• sisquoi & Black River RR.-Eastmans to Bolton Centre, 10; Miasiss(]_uoi VaUey RR., St. Albans to Richford, Vt., 29 miles; total, 709 m. (n Sept., 1888, leased the Mit1sisquoi Valley R.R., at 4 per cent on $500,000 i:,tock. In year en.ding June 30, 1887, gross earnings, $4,':181.607; net earnings, $1,318,675; balance over ren.talt1, taxes, rnterest, etc., $86,835. In 1887-8 grosB, $4,773,373; net, $1,3;';6,751; balance over rentals, taxeB, interest, $54,732.-(V. 43, p. 274,308; V. 44, p. 433; V. 45, p. 512; v. 47, p. 459.) Charleston Cincinnati & Chicago.-( See lfap.)-This road is being '.milt by the Mass. & South. Construction. Co. from Charleston., 8. c., through 1he States of South Carolin.a, North Carolina, Tennessee, Virginia and Kentucky, to i A.shland, on the Ohio River; 147 miles between Camden, S. C., and Rutherfordton, N. C., is now (Dec. 1, 189~) in operation, forming a through line, in connection with the South Carolina RR·, 290 miles long, between Charleston. B. C., and Rutherfordton, N. C. On Aug. 2, 1887, the company voted to take up and cancel the bonds issued under a mortgage dated Oct. l, 1886, and to llsue the above bonds, covering the whole line of road from Charleston to the Ohio River. The counties, towns and townships through which the road runs have already voted aid to the amount of about $1,500,· 000, payable in their 6 and 7 per cent bonds, in exchange for an equal amount of stock. These subscriptions are payable as the road is completed. Par of stock, $100. General offices of the company, 45 Broad· way, New York.-(V. 4.5, p. 613; V. 46, p. 418, 829.) Oharleston & savanoah.-Owns tromsavan.nah, l¾a., to Charleston Junction, S. C., 104 miles (excPpt 7 miles trackage), and br., n.ch to Youn.gs, l'd, 6 miles; operates-Ashley River branches, 4 miles; Charleston Junction. to Charleston., 7miles; total operated, 121 miles. This was first the Charl. & Sav. RR.; reorganized in 1866 under name of Savannah & Charleston, and opened March, 1870. Sold in foreclosure June 7, 1880. and present company organized. Stock, $500,000. 1n addi• tton to the gen. mort. bonds, there are $1,000,000 lat pref. in.come 7s and $1,000,000 2d pref. income 7s. Earninl{s, gross in 1887, $195,762; net over expenses and taxes, $82,610. H.B. Pian.t, President. New York. Charlotte Columbia & A.ugusta.-OwnsfromCharlotte, N.C., to Augusta, Ga., 191 miles; leases Atl. Tenn. 4t O. RR., Charlotte to States• ville, 44m.; Cheraw & Chester, 29 m,, a.nd Chester & Lenoir, 109 m.; total operated 373 milf a. This was a coni,olidation. (July 9, '69) of the Charlotte & Bo. Carolina and the Columbia & Augusta. The road has been under the control and management of the Richmond & Dan.ville since '78, and in May, 1886, was leased to that company. There was due other companies Sept. 30, '88, $57,139. None of the new con.sol. bonds had been issued to Sept. 30, '88. A dividend of 4 per cent was paid Dec. 5, 1888. In year ending Sept. 30, 1887, gross ea1n.'s were $ 826,116: net over expenees and taxes, $iS04,246; surplus over int. and rentals, $-13,854. Gross, 1887-88, $914,815; net, $359,702; surplus over :ill. int. and rentals, $104,584.-(V. 46, p. 699.) Ohartlers.-Owns from Mansfield, Pa., to Washington., Pa., 23 m. Bold under foreclosnre, and reorganized in 1867. Leased for 99 years from January 1, 1872, to the Pittsburg Cincinnati & St. Louis; the rental is net earnings. Gross earnings in 1886, $217,044; net earnings, $111,258. In 1887 gross $195,863; net, $75,848; surplus over ftxed charges and dividends (5 per cent). $8,076. Capital stock, $645,300 (par $50>, of which .Penn. RR. owns $326,350. Dividends in 1887, 5 per cent; in 1888, 5 per cent. Ohattanooga Rome & Cohun.bus.-Owns from Chattanooga to Carrollton., 140 m., and proJected to Columbus, Ga , with branch to Montgomery. Thiscompan.yissuccessortothe Rome & Carrollton. RR. There a.re 6 per cent income bonds, non-cumulative, for $1,400,000, and atock, $2,800,000. Of the lat mortgage bonds $150,000 are held to retire ame amount of R. & C. prior bon.ds.-(V. 46, p. 829.) Chesapeake & Nashville.-Roa.d owned from Gallatin to BcottsTllle, Tenn., 35 miles, and branch, Gallatin to Hartsville, 12 miles, in progress. Construction. from Scottsville to near Dan.Ville, Ky., 105 miles, is proposed. There is a sin.king fund of one per cent, but bonds a.re purchased not drawn. Stock, $1,050 000; par, $100. Ohe•apeake & Ohlo.-(SeeMap.)-Oid Point Comfort Va., via Newport News, ro Big Bandy River, W. Va.. 511 mileB. Also controls and QPerates the Maysville & Big Sandy RR. Co. (Ashland to Covington. Ky., 143 miles) and bridge between Covington. & Cincinnati; total 655 miles. The present Che~peake & Ohio Railway Company was organized in July, 1878, a.,;i successor of the Ch~pea.k:e & Ohio RR. Co., which was organized after foreclosure April 2, 11378. The Company having de:l'aulted on its interest a receiver was appointed in October, 1887. The reorganization of the road and its extension to Cincinnati was undertaken in 1888 by Drexel, Morgan & Co., and successfully carried through without foreclosure, The receiver was discharged Sept. 29, 188~, and the road passed to its new management. The extension. to Cincinnati was opened January 7, 1889. In August, 1888, an arrangement was made to acquire the Richmond & Alleghany Road (252 miles) on which property there are to be issued $5,000,000 1st mortgage bonds (2 per cent for 5 years and 4 thereafter); $1,000,000 2d mortgage bonds (2 1:>er cent !or 1 year, 3 for one year an.d 4 ther.:after); $500,0\JO i:dcome bonds (to get Eiame interest as C. & 0. first preferred stock); $500,000 Chesapeake & Ohio lat preferrecl stock; and $6,000 000 Chesapeake & Ohio common stock. Pen.ding the comple- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The B eara of Directors of the Ches.1peake & Ohio Ry Co. elected Janu ary 8, 1889, was M. E. In galls, C.H. Cos ter, George T. Bliss. Cha.rl "BD Dickie, H en.r.v Villard, W. Salomnn, W. P. Anderson., Ex. Norton, C. P. Huntington, George 8 . Scott and Henry T. Wickham. Until .fan. 1, 1894, the voting power and control of the company remains wiGh three 1rustees. viz.: J . .Pierpont Morgan, John Crosby Brown and George Bliss. The plan of reorganization. was given at length in the CHRONICLE ot February 11, 1888 (V. 46), on page V. of advertisements. Th-e oon.soL mortgage is for $30,000,000 at 5 per cent (but the reorganization trustees may "capitalize" one-fifth of the interest for two years), and $5,000,000 will be reser ved in the Treasury for use as needed. This mortgage is also secured by deposit in trust of the $11,000,000 bonds an.I two-thirds of the stock of the Maysville & Big Sandy RR.,Ashlan.d to Covington., Ky., and the Bridge to Cinn., all owned by the C. & O. RR. Co. The bonds are given in the table as they will be under new arrangement. The stock is $40,000,000 common, $12,000,000 lat pref. 5 per cent non-cumulative and $12,000,000 2d pref. 5 per cent. The annual report for '87 was in CHRONICLE, V. 46, p. 411, as follows: 1885. 1886. 1887. Gross earnings ..•..••....•...••.••. $3,361,235 $4,096,0-18 $4,451,168 Operating expenses.... ........... 2,374,159 2,867,981 3,152,170 Earnings over oper. expenses..... Other receipts............ ..•...•.. $987,075 $1,228,066 $1,298,998 1,557 11,626 7,081 Total................ . . •. . . • . . . . Taxes and rentals.................. $988,633 $1,239,693 $1 306,079 91,652 109,227 110,878 Balance net earn,ings.... ...... $896,981 $l. 130,465 $1i195,201 -(V. 46, p. 171,199,227,254,289, 319,353,411,448,481, :>37, 610, 649,770,882; v. 47, p. 81, 199, 410, 625; v. 48, p. 37, 66, 99.) Che11apeake Ohio & Southw-estern.-Owns from Elizabetht'wn, Ky., via. P aducah, to Memphis, Tenn., 352 miles; leased, Ceoillan branch of Louisville & Nashville, 47 miles. Total operated, 398 miles. In Feb., 1886, leased to the Newport News & Mississippi Valley Co. for :fifty years. The com~any purchased the Memphis P aducah & Northern -Paducah to Memphis-and the Paducah & Elizabetht own. subject to the $500,000 mort~age on the latter, and leased in p erpetui~ the Cecillan Bran.ch of Louisville & Nashville, from Louisville to Cecilian Jµnction, for $60,000 per annum, with option of purchasing it for $1,000,000. Stock-Common, $6,030,600, and preferred, $3,696,000; par, $100. From Jan. 1 to Yov. 30 in 1888 (11 monrhs), gross earnings were $1,817,498, against $1,798,'H. 7; net, $661,725, against $734,414. The annual report in V. 46, p. 448, showed the following: 1885. Gross earnings .•••.•••....•...•. $1,571,156 Net earnings . . • . . •• . . .. . . . ... . . .• $502,531 Interest. rentals, taxes, &c.. . . .• 63'1,920 1886. $1,713,325 $656,525 674,620 1887. $2,001,723 $809,867 713,620 Balance ..•.......••......•. def.$132,389 def. $18,095 sur. $96,247 v. 46, p. 134, 448, 802) Cheshlre.-Owns from South Ashburn.ham, Mass., to Bellows .Falls, Vt., 54 miles; leases, Mon.adn.ock Railroad, Wmohen.don to Peterboro, N H., 16 miles; and 10 miles Vermont& Mass; total80 miles: but the Mon.adnock, 16 miles, is not included in the Cheshire earnings, leaving 64 miles operated. Rental paid to Vt. & Maas. for leased portion of road $51,000. Capital stock-oommOll, $53,300, and preferred, $2,100,000. In yea,r en.ding Sept. 30, '87, gross receipts were $670,830 ; net, $219,490; deficit after :tlxed charges and 6 pet cent dividends on pref. stock $5.511. In 1887-88, gross,$611,636; net, $194,363; deficit after fixed charges and 6 per cent dividend on preferred stock $30,637. Dividends on preferred stock since 1876: from 1877 to 1879 inclusive, 1 yer cent; from 1880 to 1885 inclll8ive, 3; in 1886; 5; in; 1887 11,nd 1808, 6; in 1889 to date, 3.-(V.45, p. 672,820; V.47,p. 625,) Chicago & A.Uon.-LINE OF ROAD-Joliet to Ea.st St. Lonls (main), 244 miles; Branches-To Co~ City, 30 mues; Dwight to Washington . & Lac'n.., 80 miles; Roodhouse to Louisiana, 38 miles!'; Ul)per Alton line, 8 miles. Total own~, 400 miles. Leased-Chloago to Joliet, 37 miles; Bloomington. to Godfrey, 150 miles; Louisiana to Cedar City, 101 miles; Kansas City to Mexico, 162 miles. Total leased, 450 mlles. Total operated, Dec. 31, 1887, 850 miles. ORGANIZATION, LE.A.SES, STOCKS A.ND BONDS.-Cha.rtered as the Chio. & Miss., Feb. 27, 1847; reorganized under a.ct of .ran. 21, 1857, as Chio. Alton St. & Louis, and under act of Feb. 16, 1861, the present. corporation. succeeded to the property, which was sold under :l'oreolosure in the following year a.nd transferred to new organization in October, 1862. Fiscal year ends December 31. The annual meeting is held the flrs.t Monday in April. The Joliet & Chicago is leased from January 1, 1864, for the term of its charter, and forms part of the main line. Rental, 7 p. o. on stock. The Louisiana. & Missouri River RR. is leased for 1,000 years. Rental, 35 p. c. of gross earnings, but interest guaranteed on secend mortg. bonds and '$329, 100 pref. stock; the other prof. stock is $1,010,000 and common.$2,272,700; rentalin 1887, $200,716; surplus above charges, $ 50,738, applied to floating debt; floating debt unpaid Jan. 1, -(Y, 44, p. 90, 204, 344, '2' 50; fe~~:<1$ 7J•i~!•cg::g~· t 6:Ji;f0c~m~~:f~· i~~~e~tt~ ~gt 0 *~a: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE CHESAPEAKE & OHIO RAILWAY AND ITS CONNECTIONS. INVEST JR3' SUPPLEMENT. 82 [VOL. XLVIII. Subac:rlbera will confer a great Cavor by giving Immediate notice of any error dl•covered In theae Tables. DESCRIPTION. For explanation of column headings, &o., see notes on first page of tables. Bonds-Princl INTEREST OR DIVIDENDS. Miles Date Size, or pa.l,When Dne. Amount Raw per When Par Outstanding of of Where P~ble, and by Stocks-Last Road. Bonda Value. Cent. Payable Dividend. om. - - - · - - - ·- - -· - - - --------- · ·- -- - - ·-$ ..•• 3113 J. & J. Chio., Treasurer's Office Jan., 1889 --· i877 1,000 $300,000 589,000 A. & 0 . N. Y., John Paton & Co. Oct. 1, 1912 6 249 1881 1,000 6,500,000 (6 g .) 4 M.&N. Pa.ya 4 per cent . Nov. 1, 1920 1,000 See remarks. 1883 6 g. F. & A . Aug. 1, 1993 None paid. 1,000 4 63.UOO .... J. & J . ........ -. --· . --·.. -. 100 9,000,000 isss 500 &o. 9,000,000 --ir A.·&·o. N.Y.,F.i:11 T:eo.&Bost. A.prii T...i926 Ohie.tfA.lt.- ( Oon.J-Misa.Riv.Br.at'k(7p.o.gu.C.&A.) . Miss. Riv. B'ge, lat M.,asaumed, dr'n at 100 Chicago cf Atlantic-lat mort., gol , $or£ .. . .• . . o* 2d mo~e (for $5,000,000) •.•••....••.... .••• o• 249 Car trm bonds for $651,000 ........•........••••• OhiM{Jo Burlington ti Northern.-Stock ...••.••..••. 365 lat M.,s.1.,red.at105 a.ft.Moh.,'96 ($25,000 p.m.Jc* 365 2d M. ($10,000 p. m.), red. after Jlllle 1, 1898 .••• 365 Ten-year debentures ......••..••••...•. . .•..•• . .. o• ..... Equip. b'ds,red.at105; after'9310p.c. dr. yearly. OAicago Burlington cf Quincy-Stock ..•....••....... 4,693 Consolidated mort~age (for $30,000,000) ..••... o"' 825 Trust mort. Iowa, dr. at 100 & 105 (s.f.1113 p.c.).c&r 7~0 Denver exten., bonds d awn at 100 (s. f. lip, o.)c* Bonds for Bur. & S.W., dra.wna.tlOO (s.1. lp. c.).c* Debenture bonds for Han. & St. Jo. stock . .•.. . o* North Cross R~ R. 2d._ M (now 1st), ~-,s.f.,$50,0~ 96 Trust mortgage (Burlington to Peoria) ...•• . ... c Plain bonds .................................... c* ·33 Bink. fd. bds. (for Albia Knoxv. & D. M.) ,not dr' n.c* Nebraska. ext., $20,000 p. m .(s. f. not drawnl.c' &r Dixon Peoria & Hannibal, 1st. M ....••...•.•..•. e"' 70 Ottawa Oswego & Fox River, 1st M ...••..••• • •ck 48 Ill. Grand Trunk, 1st M., $20,000 p. m., int. gu c.• 40 Quincy & Warsaw, 1st mort .• int. guar ...... . ... c"' 8. fund b'da, not dr'n (St. L. R. I. & C. M. collat.).o· 270 46 juinoy Alton & St. L. (leased), 1st mo~,:--- o* url.& Mo.Riv., 1st mort. (cum. s. f., no "n\ c* 281 40 do 1st M. oonv. bonds, (5th & 6th seriesl..c* Buri.& Mo.RR. in Neb. oona.M.l. gr.. s.f. dr'n at 100 628 49 Omaha & 8. W., lst M., guar ..•....•..•..•.. .. .••. o• Bnrl.&Mo.RR.inNeb., a. f. for At. &Neb.RR.stock ..•• Nebraska Railway conaol. mort., guar .... . ..... c* 133 9:.s.1. is9 ioo 0 45 188~ 1886 1888 isfa l,000 1,00() 1,000 100 1,000 1,000 1,000 1,000 1,000 1879 1881 1881 1883 1860 1·,000 1864 1,000 1872 1,000 1875 1887 1,000&0 500 &c·. 1869 1,000 1870 1870 500&c. 1,000 1870 1876 1,000 1,000 1876 50&c. 1863 '69-'70 500 &c. 1878 600 &c. 1,000 1871 1,000 1880 1,000 1877 I ber 1, 1877. at a \'ental of 35 per cent of ~oss earnings. The t>onds are held by TJ R. Trust Company a.a secunty for the Cb.icago & Alton bonds of 1878 issued to build this road, and a sinking fund of ,ao,ooo per annum provided. :for their redemption. Should the 35 per cent be more than sufficient to pay interest, quar. dividends and 7 per oent on the common stock, the excess ia to go to the lessees. po!Il~OI!, stock, $271,700, of which $157,600 1,1 owned by C. & A. The Misa1ss1pp1 River Bridge is leased in perpetuit,y from December 3, 1877, at a rental equal to 7 per cent on $300,000 stock (all owned by C. & A.) and 6 per cent on $700,000 bonds. The Chio. & Alton preferred stock has prior right to a non-cumula.tiv~ dividend not exceeding 7 per ct. from net earnings, and (after payment of 7 on common) also aha.res with common in any surplus. Prices of ltook have been as follows: Preferred in 1881, 140@153; in 1882, 180@46; In 1883, 140@150; in l8 e 4, 142@152; in 18-35, 147@1.55; in 1886, 150@162; in 1887, 155@164; in 1888, 157@165; in 1889 to Jan.18, inolll.8ive, 160cH60¼. Common m 1881, 127@156; in 1882, 12719'4t14519: in 1883, 128@13714; in 1884, 118@14014; in 1885, 128 @140; in 1886, 138'i1!146; in 1887, 130~155; in 1888, 132cH40'½1; in 1889 to Jan. 18, inclusive, 136@138. Dividends since 18i6 have been: In 1877, both stocks, 7¼; in 1878, both 7; in 1879, preferred 7, common 6; in 1880, pref. 7, com. 61.g; in 1881 both 8; in 1882 both 8; in 1883 both 8; in 1884, botn 10; from 1885 to 1888, inclusive, both 8. 0PEJU.TION8 AND FINA.NCES.-The Chicago & Alton road has been parUcular]y strong in having a large local business between Chioago and St. Louis, so that it was less dependent on through business, which is done at competitive rates. Its leased lines a.re as completely controlled u if own~ and the syatem is compact. O~rations, earnings, &o., b.a.ve been as follows for four years p&at. F18oal year ends Deo. 31. Annual report for 1887 was in V. 46, p. 288. INCOME ACCOUNT. I 1885. 1886. l887. $ $ $ 7,993.169 8,060,639 8,9U,386 57·70 57·70 58·94 3,380,322 3,409,684 3,671,183 272,845 282,654 269,239 3,65::$,167 3,ts9t,338 3,910,4c~2 DiBbursements$ $ $ $ Rentals.paid........... 823,565 704,473 701,777 710,608 Construot'n, equip., &o. 292,221 380,702 254.,13! 657,444 Interest on debt.... .••• 770,683 839,307 836,381 831,031 1 Dividend8 . . . . . • • . . . • •• . 1 •6 l, 4 l, 4 Miacellaneoua. · ·•· · · ·· · · - - ~ - - - - -~~-~ , Total disbursements •• ~,621,572 3,4~8,0Sti 31301 632 3, 6 99,399 Ba.lance, surplus........ 232,730 225,081 390,706 241,023 V 46 p 254 272 288 320 L &Mo Riv) v 47 p 140) - ( · ' · ' ' ' ( · ·; · ' · · Ohleago & A.tlantlc.-Opened May 14, 1883, from Marlon, O., on line of N.Y. Pa. & 0., to Hammond, Ind., 249 miles, and thence over the Chicago & West. lnd. to Chicago, 19 miles. Connecting line ror N. l°r;O:of :hi~h $~o<'ho~o6 w~·d!po~te'X ifb.J~~!~ett~l~~!'P~lsEi~!t of N. Y. L. E. & W.), in trust to hold and vote on it. On Nov. 1 , 1884, the interest due on 1st mort. bonds was defaulted, and interest has been a.td recently at 4 p. o.. as E::r reorganization scheme. The 2 d mort. onds were largely pledged or N. Y. L . E. & W. loana, a nd about ·$SOO,000 are held by the Erie and $2,500,000 in trust for Erie by Farmers' Loan & Trust Co., and balance of $1,700,000 by other parties. In February, 1886, suit brought by the Farmers' L. & T. Co. to tore• close the mortgatJ;es. A decree was entered in Jan., 1889. An outline o:f proposed plan and arra.~ement with Erle was . in CHRONICLE or liarch 19, 1887, v. 44, p. 369 , hy which arrangE>• ment !he new issue of bonds will be $l 2 ,ooo,uoo, be~rinO' 4 p . oent for 5 years, 5 per l' ent thereafter, gold, auaranteed by N. Y. L. E. & ... W., an(\_ $100,000 only of stock to be held by that company; there will also ~0,000,000 o:t 5 per cent non-cumulative income bonds. In the year ending June 30, 1888, gross earnings were $2,405,121; net over expenses and taxes $540,559; rental to Ch. & W. Ind., $180,4c6 9; See report V. 47, P• 593. (V.44, p. 2l, 173, 3-!3, 369; V. _4 6, p. 5 37, 649; V. 47, p. 530, 5ti3, 593; V. 48, P• 37.) Ohlcago Burlington & Northeru.-Owna trom Oregon, Ill., to St. Paul, Minn., and branches, 348 m.; trackage Fulton to Savanna, ill., 17 m.; total, 365 rrules. The road was completed A.ug., ' 86, under Chicago B. & Q. auspices, as per circular of Au~st l, 1885 (in CHRONICLE, V. 41, p. 160). The Chic. B. & Q. and Chic. ~ Iowa give a traffic g11a.rantee for twenty years of one-ha.If 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 purohaae of C. B. & N. bonds at 105; and after 1896 the bonds may all be retired at 105. The 2d mort. was issued in 1888 to fund the flo:1iting debt and $2,250,000 was reserved to cover the debentures. Bee oircular, CHRONICLE, V. 47, p. 256. From Jan.1 to Nov. 30 in 1g88 (11 mos.) gross ea.m's were $1,8-12,919, agat. $2,134,196 in 1887; net, $364,818, ~~t. $486,283. In 1887 gross earnings were $2,276,199; net income, $480,628; rental and interes12,_$646,501; deficit, $165,873. (V. 45, p. :.210,436; V. 46, p. 227,254; v. 47, p. 256.) , Ob1CIIC0 .Burllng&on & qu1ncy.-LINE OF RO.AD.-Th3 c. B. & Q.is one of the most complex railroad systems in the U. 8. It has a net- Receipt,- 1884. $ Gro88 earnings .•••.•••.. 8,709,274 P. ct. of op. exp. to earn. 58·94 Net earnings . ••..•..••.• 3,575,484 Otherreoei_pts . ... ..••.• 278,818 Total ..•. . .•...• •.••• 3,854,d02 ti•.i·~i ii•.~i1 •f&i•.iit w~'h E https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis g~•.i~~ 900,000 2,250,000 940,000 76,392,505 13,986,000 11,886,000 7,968,000 4,300,000 9,000,000 341,000 6a3,ooo 547,500 350,000 19,785,000 545,500 1,076,000 890,500 720,000 2,316,000 8 40,000 4,170,550 217,500 12,715,600 669,000 3,347,000 385,000 J. & D . do do J. & D . do do F. ~A. Q.-)1. N. Y., Boston & Chlo. J. & J. N.Y.,Bk. of Com .&Bost. A.. & o. do do F. & A. do ao M.& 8. do do M.&N. do do J. & J . Frankfort, G ::: rmany. g. A.. & o. N.Y., Bk.of Com.&Boat. J. & .J. 7 do do J. & D. Boston. Co.'s office. 5 ll.&N. N.Y., Bk. of Oom. &Bos 4 J. & J. do 8 <10 J. & J. N.Y. P.L.& T.Co.& Bost. 8 A. &O. Boston, Co.'s Office. 8 J. & J . N.Y.,F.L.&T.Co. & Bost. 8 A.. & o. N. Y.,BII.of Com. & Bost. 5 F. &A. N.Y.,F.L.& T.Co.&Bost. 5 A. & 0 7 do do J. & J. Boston. Co. 's Office. 8 J. & J. Boston, Bk. of Com'rce. 6 J. & D. Boston. Co.'s Office. 8 4 J. & J. Boston, Bk. of Com'rce A. & 0. 7 Bo!:!ton. Co.'s Office. 6 6 7 1 7 4&5 4 4 5 * June 1, 1918 Dec. 1, 1896 Feb. 1, 1903 Dec. 15, 1888 July 1, 1903 Oct. 1, 1919 Feb. 1, 1922 Sept. 1, 1921 May 1, .1913 July 1, 1890 Oct. 1, 1890 Jan. 1. 1896 June 1, 1895 May 1, 1927 July 1, 1889 July 1, 1900 Oct. 1, 1890 July 1, 1890 Oct. 1, 1901 Feb. 1, 1896 Oct. 1, 1893 1889 & 1894. July 1, 1918 June i, 189,6 Jan. 1, 1910 Oct. 1, 189 6 work of lines in Ill., Iowa and Ne b. The main line extentla from Uhic . Ill., to Burlington, Iowa, 204 miles , and t hence to Pacilio J11nction, 276 miles, and from Pacific Junction to Denver. Col. , 577 miles, ma.king the distance from Chicago to Denver 1,057 miles. From P~iflo .Junction to Council Bluffs is 18 miles (track used jointly with K. C. St. Jo. & C. B.), ma.king the C. B. & Q. line, Chicago to Co11nc il Bluffs, 498 miles. Tb.e Extens. to Denver was opened May, 1882. B esides nume rou.s local roa.ia the company also has its line in lliinois to East St. Lou.is, and to Qa.t.noy, connecting with the Hannibal & St. Joseph road (p11rcb.ased by C. B. & Q. in 1883) across Missouri to St. Joseph. The mileage reported at the close of 1887 was 4,693, or which 122 miles wet'e leased or opera.tea with. other companies. In addition to this the company controls and largely owns the St. Louis Keokllk & N. W. road, 181¼ miles; the Kansas City St. Joseph & Council Blu1fs, 313 miles; the Chicago Btirlington & Kansas City, 153 miles; the St. Josepll & Des Moines, 50 miles; and a half-interest with Wabash in the H11meston & Shenandoah, 113 miles. The allied road to St. Paulis tRe Chic. B11r. & Northern. ln September, 1887, the Denver Utah. & P a.citlc (narrow gauge), !3 mtlea, Denver to Lyons, Col, was purchased. ORGANIZA.TION, &c.-Tlle C. B. & Q. was a consolidation in 1856 of the Chic. & Aurora and the Cent. Military Trac k railroads, and purchased in 1860the Northern Crc,ss RR. and in 1862 the Peoria & Oquawka. road. The present company was a consolidation in January, 1875, of the Chi'3ai-;o Burlington & Quincy in Illinol!:! and the .Bu.r1ington & Missouri River in Iowa. In 1880 the Burlington & Missouri in Nebraska was absorbed. The leased lines are practically owned and there ls no charge for rentals in the income account, except as interest on bonds. The ownership in the other roads above-mentioned is in the stocks and bonds thereof, and their accounts are kept separate. In Augu.st, 1885, the agreement was ma.de with the Chio. Bur. & No. for the line to St. Paul, and the Chio. B. & Q. owns $3,000,000 of the stock of th.at oomp~ny; see circular in V.41, p.160. The liaca.l year ends Dec. 31. Annual election in April. STOCKS .um BoNos.-Tne stock has been rapidly increased for the acquisition of new lines, and in 1880 a distribution of 20 per cent in stock was ma.de. Dividends have been: In 1877, 9 per cent; 1n 1878, 101g; in 1879, 8; in 1880, 9\t cash and 20 stock; rrom 1881 to 1887, incl., 8; in 1888, 5 per cent. The prices of stock have been: In 1881, 133¼@1821.g; in 1882, 12019@141; in 1883, 115~@12938: in 1884. 107@127l¼,; in 1885. 115111@13819; in 1836, 128¾@141: in 1887, 123 7s@l56; in 1889, 103¾-itl30Ig; in 1889 to Jan. 18,incl., 107¾@111¼. The C. B. & Q. on many o:f its branch lines gave a traffic guarantee ot 40 to 50 per cent, which was used in purche.aini theiroonda. The 0 a.~td Jtoi::P~Jo. ~~oct i'!~~~Jie~~f::saf$li\~~ share, taking the St. Jo. stock at $72 50 per share. Enou~h o:f the C. B. & Q. consolidated mortga~e ts reserved to take up prior debts. The bonds of 1876 are aecureu by mortgage bonds of like a.mount on St. LouiaRockisland&Chicagoroa.ddepoaitedwithtrustees. or the Iowa trust bonds or 1879, $8,988,000 are 4s and $2,898,000 - th 4 b · b' t t 11 t 100 d th 5 t 105 th 8inkin f~iid ~et!g t1::agi!~ g 0 ~ i~nd! issued.,a.;ayab1e Jot 1 yfflrly.e The collateral trust Nebraska exten. b'ds of '87 (N'. E Tr. Co., of Ma.a~., trustee,) are issued at $20,000 perm. for single track and $10,000 per m. additiona.lfor second track. See abstract of mortg. in v. 45h p. 441. Swn total o:f all sinking fund,i Dec. 31, 1887 • excludin~ oldinga of bonds canceled, was $10,80!,491; canceled bonds in sinking tunde cost $2,622,714. Many of the bonds are redeemable (may be drawn) before maturity at variou.s pdces, plu.s accrued interest, a.a stated in the table above. The B &u· · N b k 6 d 1918 d bl t 100 ,. t thi 8 nr. u.a.o. m e ras a s • 118 • a.re re eema. e a • .,u for tb.e "exempt" bonds applies only af:er 1908. LA.ND GRANT.-In Iowa only 6,500 a.ores remain unsold, and the contracts.&c.,outsta.nd~Dec.31,'87,werefor$312,600,prinoi11a.landint. In Nebraska the net sa es for the year 1887 were 3,337 acres, for $29,404. Contracts, principal and int., on hand, $1,618,4.47; unsold lands, 77,500 acres, eattmated at $1 per acre, $310,000. OPER.A.TIONS .AND FIN.ANCEa.-The Chic. Burl. & Quincy RR. he.a been one of the most profitable in the country, a.a its numerous branches tributa.ry to the main line were built into choice agricultural territory, where they enjoyed a monopoly of the local business at full rate~. From Jan.1 toNov.30in1888 (11 mos.) grossearn'ewere $21,621,494, against $25,412,690 in 1887; net, $5,362,3c.9, against $11,426,754. The annual report :for 1887 was published in the CHRONICLE, V. 46, (p. 4781. Oompara.tive statistics for four years are as follows: 1884. 1885. 1886. 1887. Mlles ow'd andleas'd - 3,369 3,534. 3,914 4,571 Mi.lee oper'd jointly. 98 11:J 122 122 Tota.I operated.. a,467 3, 64 7 4.036 FISCAL RESULTS. 1887. 18$84. 18$85. 1886. $ garning11f 6,629,859 Passenger . ••• . ••• . . 5,339,866 5,286,407 5,.63lf,261 Freight.. .•••.. •• . .. 18,514.432 19,565,854 19,367,935 18,675,655 2,270,564 Mail, ex:preas,&o. .•• 1,629,315 1,704,164 1,727.212 Total gross earnings ~5,483,613 26,556,4t5 :.!6,728,4u8 27,:)76,078 Oper. exp. & taxes .• 14,090.745 14.40!l.7fH 14,491,683' lt:i,097,913 Net earnings .••..••• 11,392,868 12,150,bi:>7 12,2'.dt>,725 11,478,165 P.C. ofop.ei::. to earn 55·3 5 4 ·25 54·22 58·38 ~ir:n~~~: ci~f~ g::t JANUARY, RAILROAD STOCKS AND BONDS. 1889.] 33 dl■covered In the•e Tablu. Bonds-Prtn01 INTEREST OR DIVIDENDS. DESCRIPTION. pal, When Due . Miles Date Size,or Amount Par Outstanding For explanation of column headings, &o., see notes of of Rate per When Where P~ble, and by Stocks-Last Road. Bonds Value. Cent. Payable om. Dividend. on first page of tables. Snb•erlber• -will confer a great Cavor by giving Immediate notice o, any error - -· ---- - - - - -· ---- - Ohuaqo Burlington <f Quincy-(0ontinued,J- Repub. Val R. l~tM. g.(dr, at 100) s. f., $14,000.c 148 Atchison & Nebraska.1st mortgage guar ....•.. c .. 146 73 Lincoln &N. W. RR. lstl\l. i?Uar. s. f. lp.o .. not dr K.C.St ..lo. & C. Bl.,consol. M. (N'os.l to 500 pf.) .c· 274 let Ms. Nod. and Tark Val. RRs. (dr. at 100) .. c .. 62 Humeston & Bhenand. RR lat ~1.,$20.000 p. m .. Ohic. <f East. m.-stock ($3,000,0(lO is 6 % pref.) ... 286 lat M. , (8. f. $20.000 after '85, no drawings) ... c* 107 Consol. mort., f°ld (for ~6.~00,000) s. ! ...••.... c; 208 Collateral trus b onds, smkmg fund ....•...... . o C. & E. m. Extension.1st mortgage . ........... c* ·y5 General consol. mortftage .....••..... . .......•. c&r 277 Dan. & Grape Creek R .-lst mortgage . .... •. . c• 7 Strawn & fnd. Sta te Line bonde, assumed, s. f .c* 13 Chicago <f Gr. Trn n k-lstM., $& £ ($556,000 res'd) 330 2d mort . ....... . .. . ..•. . •....•................•...•. 330 Northwest. Grand Trunk, 1st mort . .....•.....• 66 (]\-!:;. cl Gt. Western -1st mort., gold, int; guar .... c* 10 2d mort., for $4,0 00,000, gold, int. g uar . •...... c" Chic. <f Tndiana CoaZ-Btock ($1,465,200 is pf.\ .... 207 1st mort. ($25,000 per IJ!ile) .......•.• •• . ..•.••. c* 172 Ohicago Mitwaukee d St. Paul-Com. stock ...•... . 5,670 Preferred st'ck (7 p. c. y'rly, not cumulative) . . ..•. 5,670 Consol.M.(for $35,000,000) conv. into pref. st'k.c* 1,435 let M. (Lacrosse Div.), convert. into pref. st'k.c* 370 let mort. (Ia. & M.) ••••.••••••• . •••••••••••••.••• c* 230 let mortgage (Minnesota Central) . ........•...•. c* 49 1st M. (Iowa & D a kota), conv. into pref. stock . c* 126 let M.,I.&D.Ext. ($15,000 p.m. )con v. into pf.!:>t'kc* 234 lRt M. (.Prairie du Chien) ..•...••.•• • ..•...•..... c* 195 2d M . (Prairie du Chien), conv. into pref. st'k .c* 195 ... 1879 $1,000 1878 lOO&c. 1880 1877 lOO&c. 1880 1:01)0 1881 100 i877 100 &c. 1,000 1884 1,000 1887 1.000 1881 1887 1,000&c 1,000 1880 1,000 1881 £100&c 1880 1,000 1882 1890 500 &c. 1,000 1886 .... 1,000 100 .... 1,000 1886 100 . 100 i875 1,000 1,000 1963 1.000 1867 1,000 1864 1,000 1869 1,000 1878 1,000 1868 1,000 1868 ... $1,056,200 6 J & J. Boston, Bk. of Com'rce. Jan. 1, 1919 1,125,000 M. & S. do do Mar. 1, 1908 7 600,000 7 Boston, Co.'s Office. Jan. 1, 1910 J. & J. 5,000,000 7 J. & J. Boston, 2d S'at. Bank. Jan. 1, 1907 650,000 7 do do June 1• 1920 J. & o. 1,342,000 7 Boston, Co.'s Office. Mar. 31• 1911 6,000,00'.l 119onpf. Q:~M. N.Y. ,Hanover Nat. Bk. Dec. 1, 1888 3,000,000 J. & D. N.Y.,4thNat.Bk.&Bosti. Dec. 1, 1907 6 2,704,000 6 g. A. & 0. N. Y., Central Trust Co. Oct. 1, 1934 400,000 6 g. F. & A. Feb. 1, 1912 do do 111.000 .J. & D. Ne w York. 4th Nat. Bk. Dec. 1, 1931 6 3,017,000 5 M.&N. N. Y., Cent. Trust Co. Nov. 1, 1937 121,000 6 M.&N. Boston, Globe Nat. Bk. May 1, 1920 150,000 6 J . & .J. N. Y .. Central Trust Co. Oct. 1, 1921 5,444,000 6 g. J. & .J. New York and London. Jan. 1, 1900 6,000,000 .Jan., 1922 5 J. & J. do do 556,000 6 .J. & J. N.Y., E.P.Beach,B'way. Jan. 1, 1910 4,000,000 5 g. .J. &D. N .Y. , Office, 36 Wall St. June 1, 1936 4,000,000 5 g. J. &D. do Ito June 1, 1936 3,663,000 119onpf Q.-M. N.Y., Hano ver N ~t. Bk . Dec. 1, 1888 4,40~,ooo J. & J. N. Y .. Met. '£ru.sti Co. 5 Jan. 1, 1936 39,680,361 219 A. &O. N. Y., Office 42 Wall St. April 23, 1888 21,610,900 219 A. & 0 . do do Oct. 22, 1888 11,486.000 July 1, 1905 7 .J. & .J. do do 5,209,000 7 do J . & .J. do Jan., 1893 3,198,000 7 J. & J. do do 1897 123,000 7 J. & .J. do Ju y, 1894 do 7 July, 1899 J . & .J. do do 541,000 3,505,000 J. & J. J1Ily 1, 1908 7 do do 3,674,000 F. &A. 8 do do Feb., 1898 1,241,000 7·3 F. &A. do do Feb., 1898 I .1ny;, l waukee, 85 miles; Milwaukee to St. Paul and Minneapolis, via La Crosse, 1341 miles; Milwaukee to Prairie du Chien, 194 miles; McGre~or (oppo1837. 1885. 1886. site Prairie du Chien) to Chamberlain, Dak., on the Missouri River, 442 Reui,pts$ $ $ $ miles; Chicago, via Savanna, on the Mississippi River, to Council Bu:ft'.8, 11,478,165 11,392.868 12,150,6 '17 12,236,7'.!5 la_., 487 ~es; Marion, Ia. (near Cedar Rapids) to Kansas City, 305 Net earnings ..•.. . .. 859,055 m:le~; Minneapolis to Aberdeen, DaJ[., 288 miles. On Dec. 31, 1887, 566,769 592,432 615,342 Interest and exch .. 567,083 the mileage in Illinois was 316; in Wisconsin, 1,305; in Iowa, 1,57 3; 1,129,591 fl85,796 846,771 Neti B . & M. l'd gr't .. in Minnesota. 1,120; in Missouri, 140; in Dakota., 1,215. Total miles , , operated. 5,670. On Nov. l. 1887, the line to Kansas City was opened. Total ineome .•• . •• 13,089,228 13,728.885 13,698,838 12 904 303 ORGANIZATION, &c.-The Milw. & St. Paul RR. Co. was orp:an1zed May $ 5, 1863, and embraced a num.oer of other companies, including the MilDisbursements$ $ $ waukee & l\iiss., the Prairie du Chien, the Lacrosse & Milwaukee, and 19~,lf8 187,171 153,215 139,604 RentaJs paid .. _..••• 4,587,76i •>tuers. The Milwa.ukee & St. Paul afterward purchased the St. Paul & 4,294,263 4,391,00-! 4,304,284 Interest on debt ...•• Chicago Road and others, and built the line from Milwaukee to Chio ago, 6,111.064 6 ,110,572 6,110,722 5,566.580 Dividends ..•...•.... and on February 11, 1874. the company took its present name. The 8 8 Bate of dividends ... 8 8 fiscal year ends Dec. 31. The annual meeting is held early in June. 646,430 500,154 670,29 -'i 938.064 Carried to sink'g f'd . STOCKS AND BONDS.-The prefeITed stock has a prior right over the 500,000 1,000,000 1,000,000 Carried to renew'l f ' d common stock to a dividend of not over 7 p. c. from net earnings in each y ear, but if not earned it has no cumulative right. If a dividend Total disbursements 11,4.48,532 12,23'3,4.36 12,325,23 6 11,397,148 was earn ed in any year and not paid, there might be a claim on future Balanoe,eurplus.. .. 1,640,696 1,4J0,449 1,373,602 1,507,155 years for such dividend. After payment of 7 on pref. and 7 on com., both cla c:;ses share pro rata. -(V. 46, p. 133,241, 254. 255,478,481,802; V. 47, p. 38 1 , 7 75. ) Dividends since 1873 have been: On common in 1879, 219 p. o.; from 1 :: 80 to 188 4, incl., 7; tn 1885. 4; in 1886 and 1887, 5; in 1888, ~lg; Chicago & Eastern Illlnols.-Owns from Dolton, Ill., to Dan- in 1889, to date, nil. On preferred, tn 1874, 7 in coneol. bonds; in ville, m., 10712 miles; Covington, Ind., to Coal Creek, Ind .. 9 mil c1-1; 1875 nil; in 1876, 31g cas.h and 14 per cent in bonds; in 1877, 31g; in Danville to Tuscola, 50 miles; Momence to Indiana State line (junction 1878, 1019; from 1879 to 1887 inclusive, 7; in 1888, 6. with the Chic. & ind. Coal), 11 mileF; Wellington Junction to Cissna The ran~e in prices ot stocks since 1877 have been: Pref. in 1878, 649 Park, 13 miles; leases Dolton to Chicago (uses track C. & W. [ ), 17 84~: in 1~79, 7438@102~; in 1880, 99@12418; in 18~1, 116~1l!l40; in miles; Evansville Terre Haute & C. RR., TeITeHaute to Danville, Ill., 1882, 11419@14414; in 1883, 115@12214; in 1884, 9578 @119: in 1885, 55 miles; Otter Creek to Brazil, Ind., 13 miles; Danville, Ill., to Cov- 102·@ 125; in 1886, 1161Dl25~; in 1887, 110@12714; in 1888, 9819~ 117; in 1889 to Jan. 18, incl..10212@106. Common--In 1878. 271glb54bs; ~ n , Ind., use of track, 13 miles; total operated, 289 miles. 'l'he Chicago & East lliinois was chartered as Chicago Danville & in 1879, 343sa821s; in 1880, 6619i'bll4&!; in 1881, 10119@12914; in Vincennes in 1865, and opened in 1872 and 1873. Sold under foreclos- 1882, 9619@128¼; in 1883. 91&ial0819; in 1884, 5814@9414; in 1885, ure Feb. 7, 1877, and reorganized under existing title Sept. 1, 1877. 64~W9~; in 1886, 8258@99: in 1887, 691ls@95; in 1888, 59141D78; in Under the terms of leases the C. & E. ID. guarantees interest on $1,400,- 1889 to Jan. 18, inclusive, 613s1P65¾. 000 bonds of leased roads. There are also $84,000 2d mort. incomes, An abstract of the terms or some of the principal mortgages was published in the CHRONICLE, v. 45, pp. 85, 114, 144 and 212. due 1907, outstanding. Of the consolidated mortgage bonds of 1875, enough were reserved to In April, 1887, a sale was made or nearly the whole stock of this company at 110 to parties interested in the Chic. & Ind. Coal R'y (see V. 44, take up the prior bonds; these bonds may be stamped and discharged p. 458), and in .tSov., 1887, a consol1dation was made with the several from the sinking fund provisic.ns. The St. Paul & Chicago, the Chicago branches. In Jan .. 1888, holders of $3,000,000 old common stock ex- & Milwaukee, the Consolidated, the Lacrosse Div., the fowa & Dakota, changed this for $3,000,000 new common stock and $3,000,0< O pre- the Iowa & Dakota Ertension, the Prairie du Chien 2ds ferred stock. Common stock authorized, $5,000,000. Bee CHRONICLE, and the Iowa & Minn. Div. bonds are convertible into preferred V. 46t....P· 134, for complete status as given in the applications to the stock. The terminal bonds issued in 1884 are secured by mort;gage on the terminal property in Chicago and Milwaukee, subject to tne- lien Stock .Exchange and also Chic. & Ind. Coal below. · The general consolidated mortgage of 1887 (Trustee, Central Trust of the general mortgage on part of the track and terminals in these Co.) providee for the retirement of $8,000,000 prior bonds ·and for i1>sue cities; but it covers also property quite detached which oost about of bonds on new road at $18,000 per mile for single trac.k, $7,000 per $3,000,000 acquired some time after the general mort. was made; also mile additional for equipment and $8,00U per mile for double track. property to be acquired as needed to amount of $3,000,000 and Dividends since 1R81 have been: On common, in 1882, 3 per cent; in depot in Milwaukee costing $1,000,000. The Income bonds of 1886 1886, 6; in 1887, 6; in 1888 on new pref. alone, 7~. are for an authorized issue of $5,000,000, and are convertible into H. H. Porter. prest., Chicago. (V. 46, p. 102, 133, 134, 135, 171, 172, common stock, on notice, 60 days after any dividend day. They 227~ 738; v. 48, p. 100.) have a sinking fund of 4 per cent. beginnmg in 1899, and may be drawn ati 105. After '88, if a majority or the bondholders so requeali, Chleago & Grand Trunk.-Line of road from Port Huron, Mich., a 2d mortgage shall be ruade on the line, Chicago to Kansas City, to Chicago, 33019 miles; also uses 419 miles of Chicago & West. lndiana and a first on the Mo. River bridge and terminals in Kansas Oity. and 4 miles Grand Trunk .Junction RR.; total operated, 339 miles. This.. ln addition to abnve bonds there are $89,000 Hastings & DaJc. 7s, due is a consolidation of roads between Port Huron and Chicago formed in Jan., 1903; also $275,000 5 per cent real estate mortgages due in 1890 Aprtl, 1880, under the control of the Grand Trunk: of Canada. Stock, and 1894. $6,600,000 in $100 shares. The Grand Trunk of Canada gives a trattic OPERATIONS, FINANCES, &o.-The mileage and also the stock and debt guarantee of 30 per cent of gross earnings, R.nd takes up the bonds for of this company increased very rapidly in six years, the miles owned which its 4 per cent debenture stock is Jssued. Gross earninllS from Jan. being 2,359 on January 1, 1880, against 5,670 on January 1, 1888, and 1 to Nov. 30 in 1888 (11 months) were £596,376, aga.inst £644,714 the stock and bonded debt, in round fl.gures, $69,000,000 on January 1, in '87; net,.£145,865, agst. £172,029. In'87, gross reoelpts,$3,478,696; 1880, against $180,500,000 January 1, 1888. The most complete annet, $953,806; surp. over charges, $84,077. V. 44, P• 400; V. 45, p. 52.) nui,l report issued tor a number o! years was that for 1888, which waa given at length m the CHRONICLE v. 46, p. 414. Chicago & Great We•tern.-Owns a double-track road entering In Sept., 1888, the board voted to pass the dividend on common stock Chieago from the west, and terminatiniz at Polk st., east of the Chicago and to reduce the Oct. dividend on vref. stock to 212 per cent, staoe River, with large terminal property. The interest on lat mort. bonds is in the 6 months ending June 30, 1888, groiss earnings were$10,554,089, guaranteed by the Wisconsin Central and its allied lines, which enter against $11,11~,471 in 1887; net only, $1,875,925, against f3,662,930, Chicago over this road. Stock, $8,000,uOO. The annual report for 1887 was in v. 46, p. 411 and 414. l'he staCJueago & Indiana Coal.-Owns: Brazil t.o La Crosse, Ind., 145 tii;tics in detail were given in the CHRONICLE, as follows : miles, and branch, 7 miles; Goodland .June. to Illinois State Line (junc. OPERATIONS A.ND FISCAL RESULTS. Chioa,-ro & E P. st illlnois RR.), 20 miles. Leai,es: La Cross11 to New 1884. 1885. 1886. 1887. Buffalo, 35 miles (of Chicago & West Michigan RR.); total operated, 207 5,669 . 4,804 4,921 5,298 miles. Operatedjointlv, as rc,gards net results, with Chic. & Eastern Miles operated .•••... Ill., the stocks of both companies receiving the same dividend. This Operationscompany acquired at foreclosure the form or Chio. & Great Southern., and Passengers carried.. 4,904,678 4,819,187 5,481,400 6,144,068 in April, 1887, purties interested in the C. & I. C. road purchased the Passenger mileage ... 225,851,443 214,550,187 234,444,700 230,444,573 &tock of the Chio. & Eastern ill. RR. at 110. Dividends on preferred Rate per pass. p. mile. 2·55 cts. 2·56 eta. 2·42 ots. 2·54 ct.fl. 1tock have been: In 1887, 112 p. c.; in 1888, 6. Mort of 1886(trustees Freight (tons) moved. 6,023,016 6,482,869 7,085,072 7,573,79:S Met. Tr. Co. and R. B. F. Pierce) is for$1,000,000 on road from Yeddo to Freight (tons) mil'ge.1247737233 133772145314865097131629334501 Brazil a.rd $25,000 per mile ($7,000 of this for equip.) for extensions; Av. rate p. ton p. mile. 1 ·29 cts. 1 ·28 cts. 1 ·17 cts. 1 ·09 ct&. second track, $8,000 perm. H. H. Porter, Preeiaent (V. 44, p. 458, .Earnings$ $ $ $ 494, 4.95; V. 46, p. 171,227, 738; V. 47, p. 140,531; V. 48, p. 100.) Passenger............ 5,766,843 5,499,737 5,661,690 5,849,261 CJaleqo Milwaukee & St. Paul.-(See Map.)-LINE OF ROAD.- Freight ......••.•••... 16,128,964 17,101,742 17,358,294 17,742,142 The company operates a great consolidated system of railroads in Illinois Mall, exp:ress,&o..... 1,575,191 1,811,794 1,698,419 1,774,721 Wisconsin, .Htnnesota, Iowa and Dakota, which are well shown on the aooompanying map. The main through lines are from Chicago to Mil• Totalg-ross earn'gs 23,470,998 24,413,273 24,719,403 2~,366,124 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INCOME ACCOUNT. 1884. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE '- t ) " NORTHERN >f 1 l c. Al~ CHICAGO, MILWAUKEE ~ ST.PAUL RAILWAY -~ , - a ~ ~ ~ a a _ftll'\ -- - I&, .....__ AND CONNECTIONS. JANUARY, RAILROAD STOCKS .AND BONDS. 1889.] Subscribers wlll eonCer a great Cavor by giving itnlllediate notice oC any error discovered in these Tables. - - - - - - - -DESCRIPTION. - - - - - - - - - - - - - 1 Miles For explanation of column headings, &c., see notes on first page of tables. INTEREST OR DIVIDENDS. Bonds-PrinolDate Size, or Amount _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __, pal,When Due. of of par Outstandin.,. Rate per When Where Payable and by Stocks-Last Road. Bonds. Value. ° Cent. Pay'blo Whom. Dividend. --- ----,------,----·-------·------1·-----$1,000 July, 1891 J. & J. N. Y., Office, 42 Wall. $215,000 7 w ............... c* •. 1861 8t.P.&C. lstM.(Riv.D.)$&£(conv.into pf.stock).c• fao 1872 1st M., Chio. & Mil. (conv. into pref. stock) ....•. o* 85 1873 1st mort on Lac'se &Dav. Div . ............•..... o* 185 1879 1st mort. on 8. W. Div. Western Union RR ...... c* 212 1879 1st mort. on Chic.& Pac. Div.,Chic. to Miss. Riv.c* 120 1880 1st mort. on So. Minnesota Div. ($9,000,000) .. c* 419 1880 Land grant income bonds, drawn at 105. _.•.... c* .... 1880 1st M.onHast.& Dak.Div.extens.($15,000 p.m.)c· 395 Ui80-6 ".I.st M. on Ch.Cl.D.& M.(Dub.Div), s. f.,not dr'n .c" 372 1880 1st M. on Wis. Val.RR., s.f., 1 p.c., not dr'n . ... c" 161 1880 ·P rlormort. do ........•...•. c* 107 1879 1st mortgage, Mineral Point Division ........... c* 142 1880 1st mortgage Chic. & Lake Superior Div.,._ ..•.. o* 68 1881 lstM.Wis. & Minn. Div. ($20,000 p. m.)........ .. 230 1881 1st M., g., on Chic. & Pac., W. Div., $20,000 p . m .. c~ 1,267 1881 •Chio.&Mo. Rlv.Div.,lstmortg., ($20,000 p. m.).c* 154 1886 Inc. bonds convert.,s.f.,4p.c after '88 (dr.at 105). . ... 1886 1 1884 1883 do incomes.......................... . ••. 1885 Dakota & Gt. South'n, 1st, gold ($18,000 perm.). 159 1886 <Chicago d Northwestern-Common stock ......•... t.211 Preferred st'ok (7 p. c. y'rly, not cumulative) ...... 4;211 Consol. s. fd. M., purchesable (no~ dr.) at 110 .. c" 776 i865 Madison extension, lstM.,g.(s.f.,$23,000notdr n) 126 1871 Chio. & Mil., 1st mortgage ($20,000 per mile).... 85 1863 Menominee River, 1st mort., guar......... .....••. 25 :M.enomineeextension,lstM ,g.(s.f $20,000,notdr.) 120 Gen cons. M., gold, s.f. 1 p.c. ($48,000,000) .. o&r 1,058 1872 Winona & St. Peter, 2d mort. (now lat), guar .. . . . . 137 1870·1 do lst-M. exten. gld., land gr., s. f.. 175 1871 Iowa Midland, 1st mort., guar. by Chio. & N. W.. 75 1870 ,(}11,ic. Mil.& St.P.-<Oont'd\-Mil.& i-:fs1::-~~~~ fa ·moi::igage; goici; assumed~~ ffo rn+r 1884. Operating expenses- Maint'noe of way* ... Maint'noe of equip't. Transportation exp. t Taxes .............. . Miscellaneous. . . . . .. $ 2,339,635 2,574,437 8,102,668 702,060 140,829 1885. $ 2,551,327 2,430,809 8,646,132 733,545 150,658 1886. $ 2,641,977 2,327,875 8,675,045 759,350 156,017 500&c. 3,804,500 1,000 2,393,000 1,000 2,500,000 1,000 4,000,000 1,000 3,000,000 1,000 7,432,000 1,000 1,200,000 1,000 6,670,000 1,000 6,56>,000 1,000 2,466,000 500 1,106,500 1,000 2,840,000 1,000 1,360,000 1,000 4,755,000 1,000 25,340,000 1,000 3,083,000 1,000 2,000,000 1,000 4,773,000 1,000 1,250,000 200,000 1:000 2,856,000 100 31,367,450 100 22,323,170 1,000 12,746,000 500 &c. 2.977,500 1,000 1.700,000 560,000 50O&c. 2,549,500 500 &o. 12,343,000 1,000 1,592,000 100 &c. 4,079,500 1,000 1,350,000 1887. $ 2,871,902 2,342,314 9,190,936 767,026 154,516 Tot. operating exp. 13,859,629 14,512,471 14,560,261 15,326,694 Net earnings......... 9,611.369 9,900,802 10,158,139 10,039,43•> ~.op.ex. to earns 59·65 59·45 58·90 60·42 * Includes renewal of track. t Including elevatora, stoolr•yards, per eonal injuries and damages to property, legal, insura.nef\, rent of cars, trackage, &c. INCOME ACCOlTh'T. 1887. 1884. 1885. 1886. $ $ Rueipts$ $ Net earnin~s .••.•••.. 9,611,369 9,900,802 10,158,139 10,039,430 82,307 105,!l39 144,654 272,825 Other receipts ..•.... Total income .••• Disbursements- Interest on debt ..... Divs. on both stocks* Rate of dividend .•••. 9,693,676 10,006,741 10,302,793 10,312,255 $ $ $ $ 6,241,093 5,918,608 6,<>96,573 6,456,637 3,321,167 2,391,039 3,053,076 3,257,523 7both 7&4 7&5 7&5 Tot. disbursem'nts 9,239,775 8,490,612 9,29!,169 9,714,160 Balance for year.... 453,901 1,516,129 1,008,624 598,095 *These are the actual dividends paid in the year, without regard to the time when they were earned. GENERAL BA.LANCE AT CLOSE OF EA.CH FISCAL YE.AB. 1884. 1885. 1886. 1887. A.uets- $ $ $ $ Railroad,equipm't&c149,426, 734 154,228,775 165,8!l8,616 177,374,430 St'ks&b'dsown.,cost 1,228,283 754,792 877,486 2,909,148 Co's bonds in treas.. . ... ,.. . . . .. . . •• . • •. . . •. 3,365,000 Bills&acc'ts reo'able 1,146,059 1,452,309 768,782 1,140,909 Materials, fuel, &o... 1,483,365 1,543,217 2,048,985 2,927,171 Ca.ah on hand........ 2,971,133 4,262,378 4,682,434 2,7 l6,319 Ill. &Iowaooallands 680,475 617,026 583,526 546,651 Total assets ...•••..• 156,936,049 162,858,497 174,859,829 190,979,631 Liabilities$ $ $ . $ Stock, common . •• . . . 30,904,261 30,904,261 30,904,261 39,680,361 Stock, preferred..... 16,540,983 21,540,900 21,555,900 2 l,596,900 Funded debt ..•..••.. 100,254,000101,470,000111,658,000119,236,000 All otherdues&acc'ts 2,093,163 164,958 434,825 3,494,9-1.0 Unpaid pay-rolls, &o. 1,610,661 1,729,269 2,249,109 2,896,432 Income account..... 5,532,981 7,049,109 8,057,734 4,074,998 Total lla.bilities •. 15ti,936,049 162,858,497 174,tlo~,829 190,1:17»,ti,H (V.45, p. 85, 114,144,210,212, 3-12, 400,472,592,613; V.46, p. 227,255, 371,401,411,414,418,481, 537: v. 47, p. 271,285, 326, 353, 368, 708.) Chicago & Northwestern.-( See Map.J-LINE OF Ro.AD-The Chio. & Northw:. ope,Iates '.1,211 miles of its o_wn roads and controls 1,399 miles of fte Chio. St7P. Minn. & Om., 941 miles of Fremont Elk. & Mo. Val.; 106 of Wyo. Cent ,and107 of Sioux City&Pao.; total controlled,6,764m. The mileage is extensive, and is shown clearly in the accompanying map. The main line from Chicago to East Omaha, Iowa, is 492 miles, and this forms practically the southern boundary or the whole system. On May 31, 1888, the Chic. & Northw. mileage was made up in the annual report as follows :Wisconsin Division, 549 miles; Galena Division, 400 milea; Iowa Division, 618 miles; No. Iowa Division, 546 miles; Madison Division, 509 miles; Peninsula Division, 416 miles: Winona & St. Peter Division, 448 miles; Dakota Division, 724 miles; total, 4,211 miles. In July, 1884, the-Blair roads, previously leased, were acquired by purchase, but the Sioux City & Pacific and Fremont Elkhorn & Missouri Valley (including Wyoming Central) are operated separately (1, l:'!4 miles) and their earnings not included in those of C. & N. W., but separately stated in the annuaJ reports in the CHRoNrCLE on p. 178 of V. 45, andp.169 of V. 47. ORGANIZATION, &c.-The Chicago St Paul & Fond-du-Lao Railroad which was a consolidation of several roads, was sold in foreclosure June 2, 1859, and the Chicago & Northwestern Railwaywas organized as its successor. The company has since absorbed by consolidation a large number of other roads, including those which were operated as "proprietary roads." In Decemt>er, 1882, a controlling interest was 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 (B lair roads) were acquired on the terms stated in the SUPPLEMENT of June, 1885, and prior issues. The fiscal year ends May 31. The annual meeting is held early in June. Sroci.: AND BoNDs.-Of the common stock, $10,007,476 was held in the coml)any's treasury on May 31. 1888. making the whole common etock $41,374,866. Preferred stock has prior right to 7 per cent; then common 7 per cent ; then preferred 3 per cent; then common 3 ; then both classes share. Dividends since 1875 have been: On common-In 1878 and 1879, 5 per cent· in 1880 and 1831 6· from 1882 t o https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Jan., 1902 Jan. 1, 1903 July 1, 1919 July 1, 1909 Jan. 1, 1910 Jan. 1. 1910 Jan. 1; 1890 do do Jan. 1, 1910 do do July 1, 1920 July 1, 1920 do do Boston. Jan. 1, 1909 N. Y., Office, 42 Wall. July 1, 1910 July 1, 1921 do do do do July 1, 1921 Jan. 1, 1921 do do July 1, 1926 do do July 1, 1916 do do July 1, 1914 do do do do Jan. 1, 1924 do do April, 1895 do do Jan. 1. 1916 N.Y.Co.'s Office, 52Wall Dec. 24, 1888 Dec. 24, 1888 do do Fe@. 1, 1915 do do April 1, 1911 do do do do July 1, 1898 July 1, 1906 do do do do June 1, 1911 do do Dec. 1, 1902 do do Nov. 1, 1907 do do Dec. 1, 1916 do do Oct. 1, 1900 7 g. .J. & .J. London and New York. 7 J. & .J. N. Y., Office, 42 Wall. 5 .J. & J. do do 6 J. & J. do do 6 J. & J. do do 6 J. & J. do do 7 J. & .J. do do 7 &5 6 6 7 5 5 5 g. g. J. J. J. J. J. J. J. .J. J. 5 J. 5 g. J. ~ g. J. A. 5 g. J. 3 J. g 1~ & & & & & & & & J. J. J. J. J. J. J. J. J. J. J. J. & & & & & O. & J. & D. Q.-M. Q.-F. A. & 0. J. & J. 7 J. & J. 7 g. J. & D. J. & D. g. M. & N. 7 g. J. & D. A. & o. 8 7 +g. + 1884. incl., 7; in 1885, 612; from 1886 to 188;:i, incl., 6. On preferredIn 1876, 212 per cent; in 1877, 312; from 1878 to 1881 iacl., 7: i l 1882, 734; in 1893 and 1884, 8; in 1835, 712; from 18 96 to 1888, incl., 7. Prices of stock since 1877 have been as follows: Common in 1878, 3212@5514: in 1879, 495s't119!12; in 1880. 8718'@130; in 1881, 117@136; ln 1832, 124@15034; in 1883, 11514@14018; in 1884, 8112@124; in 1885, 8438@11534; in 1886, 104141i>l205s; in 1887, l0414@127:!s; in 1888 10 °t,1i>ll6; in 1889 to Jan. 18, inclusive, 10614cr10Jlg. Preferred in 1878, 5934@7912; in 1879, 76 7s@108; in 1880, 104@14612; in 1881, 13118@14712: in 1882, 136@175; in 1883, 134@157; in 1884, 117@ 14912: in 1885, 11934'@139 7 s: in 1886, 135'.'H44; in 1887, 138@14512; in 1888. 1361411!146; in 1889, to Jan. 18, inclusive, 14018@14038. The sinkmg fund 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 whlch these are issued were published in V. 29, p. 277. rhere are $6,305,000 of these 6s, and the sinking fund is 1 per cent ot outstanding bonds. There are several small issues of bonds in addition to tnose in the table above, viz.: Minnesota 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 l. 1898; Chicago Iowa & Nebraska, $129,000, 1st mort•. 7s (F. & A.), due Aug. 15, 1892; also $1,261,000 live bonds in the sinking funds, May 31, 1888. The $10,000,000 debenture bonds were issued to pay for the Chicago St. Paul Minneapolis & Omaha stock; the sinking fund for these bonds is $200,000 per year from May, 1g88, if they can be redeemed at 105. In June, 1884. $6,000,000 5 per cent debenture bonds were authorized, and any future mortgage on the property of the company owned at date of thest> bonds. shall include them. The C. & N. W. exteu. 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 the rate of $20,000 per mile. The mortgage is for $20,000,000, and the Union Trust Co. of N. Y. is trustee. LAND GRANT.-The lands of the company have been acquired by the purchase of the Winona & St. Peter and ether roads that have been consolidated. The Commissioners' report for 1887-83 showed that the total consideration for the lands and lots sol.d in that year amounted to $532,664. Net cash receipts were $491,613. The statement of amounts secured to be pa.id to the company by outstanding contracts of sale in force at the end of the fl.seal year showed a total of $1,214,886. TA.BLE OF LANDS UNSOLD FOR YEA.RS ENDING MAT 31. 1888. Name of grant. 1885. !886. 1887. 354,662 Minnesota . . • • . . 626,811 C>74,362 373,819 347,535 Michigan . ••• .. . 443,296 420,42~ 379,299 293,4.41 Wisconsin .•••.• 303,165 299,041 297,708 Total.. •••... 1,373,272 1,293,831 1,050,820 995,638 OPERATIONS, FINANCES, &c.-The Chicago & Northwestern Railway has pursued the policy of extending rapialy its lines in the far West. The stock had not been muoh increased until the issue of new stock 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 $21,000,000 was charged off in 1887. (See explanation V. 45, p 160.) Fiscal year ends May 31. Report for 1887-8 was in the CHRONICLE, V. 47, p. 163 (see also article in V. 4o, p. 719), showing the following for the C. & N. W. proper: ROAD ANO EQUIPl\lENT. 1887-88 1884-85. 1885-86. 1886-87. 4,211 Tot. miles oper'd 4,101 3,843 3,948 Locomotives ..•• 672 698 735 766 Passeng,&c.cars 507 509 481 4% 20,103 20,513 22,091 23,681 Freight oars .... All other cars .• 470 546 55~ 581 OPERATIONS AND FISCAL RESULTS. Operations1884-85. 1885-86. 1886•87. 1887·88 Pass'l.{ers carr'd. 8,403,884 P,140,195 9,709,934 10,7137,420 Pass'germileage 231,090,788 239,150,020 254,709,295 272,745,019 R'te p.pass.p.m. 2·38 ots. 2·36 ots. 2·29 ots. 2·30 ot,s. Fr'ght(tns) mv'd 8,235,127 8,494,239 9,737,312 10,912,315 Fr'ght (tns) m'ge 1416,789,205 1466,892, 717 1754,598,5961939,044,102 Ratepr.tonp.m. 1·19 cts. 1·24 ots. 1·15 ots. 1·02 ots. Earnings$ $ $ $ Passenger....... 5,498,111 5,646,150 5,820,151 6,279,621 Freight.... . .... 16,917,394 17,503,244 19,329,484 19,118,797 l\1ail, express,&o 1,086,551 1,130,206 1,171,681 1,299.140 Gross earn's. 23,502,056 24,:&7~,ooo 26,321,316 26,69i,558 E~enses$ $ $ $ M.'aint'ce of way 2,939,253 2,951,880 3,227,245 3,351,700 " cars, &c 2,193,224 2,048,673 2,212,289 2,507,673 l'ransp. & miscel 7,970,502 8,156,221 8,919,681 10,055,694 Taxes........... 690,928 702,452 712,125 75~,742 Total . .... .••. 13,793,907 13,859,:.:l:&6 15,070,342 16,670,799 Netearn.ings.... 9,708,149 10,420,374 11,250,97-J. 10,026,759 P.c.exp. toe'.lrn. 58·69 57·08 57·26 62·44 [In year 1887•88, total gross earnings of the Sioux City & Pac. Frem. Ellr. & Mo. Val. and Wyoming Cent. (the "tra.ns•Missouri lines 1•) were $3,330 950 · net over expenses and taxes, $106 200. s MAP OF THE ~ CHICAGO & NORTH WESTERN RAILWAY & CONNECTIONS. i ~" < 11 ... z 0 ~ H I fk- ~ p 00 & ~ E-1 00. ~ II "* IL •' ~... ~,i,41 it L , https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ .. ~~ ·I JANUARY, RAILROAD STOCKS AND BONDS. 1889,) 37 -wm conCer a great Cavor by giving immediate notice of' any error discovered in these Tables. Bonds-Prinol DESCRIPTION. INTEREST OR DIVIDENDS. Due Mil~ Date Size, or Amount Rate per When Where P~ble, and by pal,When Stocks-Last. For explanation of column headings, &o., see notes of of Par Outstanding on fl.rat page of tables. Dividend. Road. Bonds Value. Cent. Payable om. Subscribers Chic. ti N. W.-(Oon.)-N. W. Union, 1st M., g. s. f. - ··- --- 62 1872 $'100&<' $3,365,000 Rochester & No. Minnesota, 1st mortgage ..•...•. 24 1878 200,000 .... Chic. Mil. & N. W., construction bonds ............ 141 1882 601,000 .... Chicago & Tomah, lstmort., guar ...•...•..•...... 154 1880 1,528,000 Milwaukee & Madison. 1st mort., guar ..•...•...•. 1,600,000 80 1880 1:000 B. f.bds.(1 st M. col.) ($15,000 p.m.) red.at 105 .. c&r 1,000 14,665,000 1879 8. f. dei.len. not drn. (for C. St. P. M. & O. stock) .. .... 1883 l,O00&o 10,000,000 Debenture bonds of 1909 (for $6,000,000) ..•..••. . 1884 1,000&o 3,869,000 C.& N.W. Exten. bds. ($20,000 per M.) ...... . o&r 1886 l,000&c 13,908, 1:00 Ottumwa C.F.& St.P., 1st M. ~ar. ($25,000 p.m.J .64 1884 1,000 .J.,600,000 Des Moines ~ .J\liI!neapolis RR. lstmort. Bonds... 1,000 600,000 58 1882 Escanaba & Lake Superior RR., 1st mort ..•...•. 36 1881 1,000 720,000 Dakota Central RR., 1st mort ......•...••...•...•. 1,007,000 71 1882 do 1st M., Southeast Div. (for $2,000,000). 125 1882 2,000,000 North. Ill., lat M. ($20,000 p. m.) guar. C .&N. W. 1,500,000 75 1885 1:000 Other small issues (see remarks) ......•..•...•..••. 531,000 Cedar Rapids & Missouri River, 1st mort ...•..•.. ·10 is6i 500&0. 700,000 do do lstmort.,2dDiv. 582,000 58 1863 500 &o. do do 1st mort., 3d Div. 146 1866 500 &o. 2,33i,ooo do do mortgage of 1384. 769,000 1884 Maple River 1st mortg......... . ................. 402,500 1877 Fremoat Elkhorn & Mo.Val.,Consol.bonds . •••.••. 31i 1883 7,725,000 1:000 8. C. &Pac. CarTr.,ass'd, $40.000dr'n-Jearly_c 1,000 319,000 1883 Mo.V.&BlairRR.Br'ge, lat, red'ble aft.'9 .•••.••• 1.000,000 1883 81oux City & Pacific, lat mortgage ......••.•••.••• io2 1868 500&0. 1,628.000 do 2d mort. (Gov't subsidy) .••• 102 1868 500&0. 1,628,320 do pref. stock .................. . 169.000 Ohicapo ti Ohio River.-lat mort. (for $500,000).... 86 21s;ooo too&o. Income bonds, conv. into stock till May, 1891 . . . . ..• 1886 618,300 ·ioo 46,156,000 Ohitago Rock Islandtl Pac.-St'ck (for$50,000,000) t,528 lat mortga~. oonp. or re§..................... . . . 636 i877 1,000&13 12,500,000 5,000,000 Chic.& Bout w., lstM.g. (g dill.cur. by C.R.I.&P.) 271 1869 100 &o. 1st M. ext.and col.($20,000 p.m.),red.aft.'94,c.&r.tl,638 1884 1,000&c 27,460,000 ... --· . --· .... .... ---· --- isss - -7 g. M. & 8. N. Y.,Co.'sO:ffioe,52 Wall M. & 8. do do M.&N. do do do M.&N. do do .M. & 8. do do do A. &O. M.&N. do do M.&N. do do F. &A. do 4 do M. & 8. do 5 do F. &A. do do 7 .J. & J, do 6 do M.& 8. do do 6 M.&N. 6 do do do do M. & S. 5 do do F ..&..A. do do F. & A. do do 7 M.&N. do do 7 do do J. & D. 7 do do J. & J. 7 do do 6 A. & O. 6 M. & 8. Boston,Columb. Nat.Bk. 6 J. & J. N.Y.,Co's Office, 52 Wall do do 6 · J. & J. J. & J. U.S. Treas., at maturity 6 31g A. & 0. N.Y.Co,.'sO:ffice,52Wall 6g. M.& N. N.Y., Corbin Bk. Co. M.&N. 6 1 Q.-F. New York & Chlc,o. J. & J. N. Y., 13 William t. 6 do M.&N. do 7 do do 5 J. & J. 7 6 6 6 5&6 5 5 ··,r 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. 15, 1926 Mar. 1, 1909 Feb. 1., 1907 Jul)'" 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 Mar. 1, 1896 Jan. 1, 1923 Jan. 1. 1898 Jan. 1, 1898 Oct., 1888 May 1, 1916 Ma.' 1, 1916 Fe . 1, 1889 July 1, 1917 Nov. I, 1899 July 1, 1934. STOCK AND BONDS.-Dividends have been paid as follows since 1887·88 1876, viz.: in 1877 and 1878, 8 per cent; in 1879, 10; in 1880, 8½1 cash and 100 p. c. in stock; from 1881 to 1887, inclusive, 7, in $ 10,026,759 1888, 6-½l; in 1889 to date, 1. Range of prices of stock was as follows since 1876, viz.: in 1877, $ 82¼@10519; in 1878, 983sibl22; in 1879, 119@150¼; in 1880 5,"53tJ°,363 5,"ist>:i'98 5,2ii>:ii56 to July, 149@204; July to Dec. (new stock) 100¼@143; in 1881, 129 3,444,504 3,444,504 3,444,504 @1481!s; in 1882, 122"'14014; in 1883, 1161i1@12714: in 1884, 10014@ 126&!; in 1885, 1051Jl32; in 1886, 12018@131; in 1887, 109iH407e; 7 7 7 In 1888,94 7sW114-½l; in 1389, to Jan. 18 Inclusive, 9614@100 7a. 6 6 6 The extension and collateral trust 5 per cent bonds of 1884 (trustee 58,000 58,000 58,000 of mortgage U. 8. Trust Co.) are issued at the rate of $15,000 _per mile Tot. dlsb'm'ts. $9,132,449 $9,038,867 $8,638,702 $8,717,660 for single traclr, $5,000 per mile additional !or equipment and $7,500 for double traolr. They are secured either by the direct lien of a first Balanoe, surplus $575,700 $1,381,507 $2,612,272 $1,309,099 mortgage or by deposit with the trustee of an equal amount of 1st mortgage 6 per cent bonds of branch lines. After July 1, 1894, they ~BB credit items. are redeemable at 105 m the order of their numbers, beginnlog with GENERAL BALANCE A.T CLOSE OF EACH FISCAL YEAR. the lowest. The difference in rate of interest or the collateral trust 1885•86. 1886-87. 1887•88 bonds and the bonds deposited (1 per cent yearly), as it accumulates, is Assets$ $ $ invested in the collateral trust bonds if purchasable below 105; otherChic. & N.W.-Road &equip. 13276,,61028l,,082244 { H44,161,050 ,rl48,372,056 wise it reverts to the company. The bonds deposited tQ secure them Other companies do } are the following: $3,000,0J0 Wisconsin Minnesota & Paoiflo bonds Bonds owned_................ 934,482 6,082,295 *10,321,015 on road from Morton, Minn., to Watertown, Da.k., 121 miles, and Red Stocks owned................. 12,2t- 2,159 12,282,160 tl2,467,159 Wing to Mankato, Minn., 93 miles (the Wisconsin Minnesota & Pacific Land grant investments . . . . • 714,000 230,000 · 253,000 being oper ~ted by_t;he Minn. & St. Louis); $960,000 St. Jo. & Iowa bond8, Bills and accounts receivable 1,926,281 1,757,952 1,846,520 on road from Altamont to Rushville, Mo., 64 milei.; and $23,500,000 Materials, fuel, &o....... .••• 2,000,734 3,000,978 2,455,296 bonds ($3,100,000 for equipment) of the Chicago Kansas & Nebraska. Cash on hand................. 2,932,848 4,~14,036 3,669,099 RR. Co ,whlch in 1888, had constructed 1,360 miles ot road., principally Trustees of sinking fund.... 4,239,176 4,320,175 4,438,177 in Kansas, and completed a line to Colorado Springs, Col., in Oot., :888. Total .••...•..••.. . •.•••.••. $183,759,528 $176,048,646 $183,8:l2,3i2 (See abstracts of the extens;on and collateral trust mortgage, and of the mortgages securing the bonds deposited, in CHRONICLE, V. 47, p. LiabilitiesBtock, common ............... . $41,374,866 $U,374,866 t $41,374,865 260, 261, 262.) The fiscal year ends March 31. Annual report for 1887-8 in V. 46, p. Stock, preferred ......•..••.. 22,325,454 2~,325,454 22,325,454 Stooks of propriet'ry roads,&o 11,230,000 ,r674,183 1] 668,933 736, also art. on p. 752. The mileage, earns., &o., have been a1:1 follows: 1883·84. 1884-85. 1885·86. 1886·87. 90,ill,500 97,384,500 103,433,500 Bonded debtU ..•.............. 1,384 1,384 1,384 1,527 Dlvid'ds declared, not yet due 1,331,600 1,331,600 1,331,599 Miles owned & oper. Operations$ · $ $ $ 4,239,175 4,320,175 4,438,175 8inking funds paid ..•...•..••• Passengers carried. 2,848,900 3,121,607 3,517,624 3,720,334 2,251,206 2,721,369 2,050,770 Current bills, pa;:v•rolls, &c .••• Passenger mileage .• 122,618,235 129,208,401133,091,642 142,578,651 14.0,762 135,506 122,880 Uncollected coupons, &c ...••• 2·328 ots. 2·336 ots. 31,044 316,814 790,955 Rate per pass.p. mile 2·466 eta. 2·420 eta. Due to roads in Iowa .••••••..• 3,873,605 4,180,109 4,970,496 37,000 37,000 ••••.••. Freight (tns) carried 3,980,502 :Bonds unsold, &o ...•..••..•••. Freigb.t (tons) mile'". 780,944,261719,972,565 793,824,454941,661,006 125,000 125,000 125,000 ~ote of Consol. Coal Co .••...• 1·04 ots. 1·07 eta. 1·01 eta. 0·93 ots. 703,525 1,473,536 1,552,796 Av.ratep.tonpmile Accrued interest not due .••.• .. Uompa.ny's freight not included. 120,000 120,000 115.209 lliscellaneous .••...••.••.•••.. Earnings$ $ 3,194,071 714,104 1,18S,546 $ Land income account ...•••.•. $ 3,023,884 3,127,258 3,097,916 3,489,501 11,144,326 11"2,994,539 ,r4,303,639 Pa~senger........... .Railroad income account ••••. Freight .••..••.... _.. 8,144,142 7,713,659 8,037,453 8,801,354. 1,218,872 l,183,681 Total ....................... $188,759,529 $176,048,646 $183,822,322 Ma.ll,expr's,r'nts,&o 1,038,885 1,163,431 Total gross earns. 12,iot:i,911 12,004,348 12,319,050 18,509,727 * Includes F. E. & M. V. consols and Wyoming Central RR. lats owned Operating expenses 7,160,324 7,166,893 8,742,060 7,50!,809 and pledgei as collateral for extension 4s of 1886, $10,093,000. ---t Includes Chic. Bt. P. M. & o. stock, $10,315,659; F. E. & M. v. RR. Net earnings....... 5,046,587 4,767,667 4,837,455 4,814,241 atoc11:, $1,966,500. Also owns C. & N. W. common stock, $10,007,476, P.o.ofop.ex.toearn. 58·65 59 ·70 60·92 64·71 and preferred stock, $2,284, included on other side of the account. INCOME ACCOUNT. t Including $10,007,476 common stock and $2,284 preferred stock in 1886-'7. 1883•4. 1884-5. 1885·6, company's treasury. $ $ $ $ UIncludinir llve bonds m sinking funds, which amounted May 31, 1888, Receiptsto $1,261,500. Net earnings ......••• 5,046,587 4,837,455 4,814,240 4,767,667 220,000 330,000 310,000 230,000 ,r The capital stocks of eleven different proprietary companies were in From land departm't 193,170 former years brought forward at their par value, but are now entered Int. from prop. roads 844,000 at thejr estimated value with reference to cost, and the stated cost of Prem. on 5 p.c.bonds. _ _ _ __ the properties correspondingly reduced. Total income..... 5,376,587 5,147,455 5,044.240 6,0:.:14,837 -(V. 44, p. 343,621,713; V. 4-0, p. 52, 159, l '7'7, 340, 575; V. 46, p. Dillbursements$ $ $ $ 172,184,200,738; V. 47,p. 168, 182, 300.) Rent leased roads.. 301,121 301,995 411,400 303,762 Chicago & Ohio River.-Line of road fromSJdells, III., to Olney, Interest on debt..... 1,094,750 1,213,250 1,320,667 1,810,778 86 miles. This Co. was organized in 1886 as BUl}cessor of the Danville Dividends............ 2,937,186 2,937,186 2,937,186 3,0l~,51S Olney & Ohio River, foreclosed in Feb. 1886, An extension to the Ohio Rate per cent........ 7 7 7 River is projected. Income bonds are convertible into stock for five years · Add'n and imp. acc't. 750,000 463,000 2oa;sifs from May 1, '86. GroE>s earnings ln 1885·86, $6L,767; net, $8,133. In Miscellaneous*...... 196,344 164,784 170:9i2 1886-87, gross, $75,377; net overoperatini:rexpPnses andlixed charges, Totaldisbursements. 5,279,401 5,080,215 4,73.!,537 5,439,084. $1,639. Austin Corbin, President, N. Y. City. -(V. 44, p. 21,289, 308.) Balance, surplus.... 9 7 , 186 67,240 311,703 585,75:J Ohtcage Rock Island & Paclflc.-(See Map.)-LINE OF ROAD.* Includes rental and tolls Mo. River Bridge. • Owns from Chicago to Council Blufts, 500 miles; Davenport, Ia., to At• -(V. 44, p. 60, 91,308, 335, 495, 526, '712, 713,731,752; V. 45, p. cbison, Kan., 345; Atchison Junction to Leavenworth, Kan., 22; Wash- 5,1, 166, 342, 400,438, 472, 512, 613; V. 46, p. 134,254,353,448, '736, ngton, Ia., to Knoxville, 77; South Englewood to South Chicago, 8; Wil· 752,819; V. 47, p. 21, 81,108,260,327,499, 745.} ton to Mll8catine, 12; Newton to Munroe, 17; Des Moines to Indianola Chica.go St. Louis & PUtsburg.-The mileage iB as follows t and Winterset, 47; Menlo to Guthrie Centre, 14; Atlantic to Audubon, Columbus, 0., to Indianapolis, Ind., 187 miles; branches-Bradford Juno.; 25; Atlantic to Griswold. 15; Avoca to Harla.n,12; Avoca to Car• O.,toChicago,lli.,2311Il.;Richmond,Ind.,toAnokaJunc.,Ind.,102m. aon, 17; Mt. Zion to Keosauqua., 4; Wilton to Llme KilnB, 6; total LogaDBport, Ind., to Illinois State Line, 61 m.; Indianapolis to Kokomo owned, 1,121 miles. Leases: Cameron, Mo., to Kansas City, 54; Bu- (operated jointlr with Lake Erie & West.) 54 m.; Ctn. Rich. & Chio. RR., reau Junction to Peoria. 47 miles; Keokuk to Des Moines, 162; Des Hamilton, 0., to Indiana State line (and leased road), 44 miles; Cin. & Moines & Fort Dodge RR., Des Moines to Fort Dodge and Ruthven, Rich. RR. to Hamilton, O., 23 m.; total operated, 702 m . 144 miles; total leased, 407 m 1 les. Total operated, April 1, 1888, 1,528 This is the reorganization (March 20, 1883,) of the Columbus Chicago miles. New road under construction in 1888, see below. & Indiana Central road, sold in foreclosure on Jan. 10, 1883. Tlie ORGANIZATION-The Chicago & Rock Island RR. was chartered in C. C. & I. C. company was formed Feb. 12, 1868, by consolidation of DlinoiB Feb. ?.,..1851, and opened from Chicago to the MiSBissippi River the Col. & Ind. Cen. and Chic. & Great East. railroad companies. In Aug., July. 1854. ·J:ne present Chio. R. I. & Pacifto was a consolidation June '88, acquired Cin. Rich. & Chic., previously l • ased by Ctn. Ham. & Day. 4c, 1880, with $50,000,000 1took authorized, and a stock dividend of '.rhe Penn. RR. and the Penn. Co. hold a .large amount of lihe lBli oon· 100 per cent to the holders ot Chic. B. I. & P. stock. Des Moines & solidated mortgage and the stocks. The preferred stock 1a entitled to 6Fort Dodge RR. was leased in '87. The annual election occurs in June• . per cent yearlyif earned, and 1a oumnlative. INCOME ACCOUNT. 1884·85. $ 9,708,149 Disburaements\ , 1 8 567 5,064,534 Dividends....... 3,981,348 Rate on pref.... 8 . Rate on comm'n 7 Sinking fund. . . 58,000 Re,uiptsNet earmngs.... I!i.6~~~U: fe1>t• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1885·86. $ 10,420,374 $ 1886·87. $ 11,250,974 $ ----- --- - - - ----- M ,,-~o...,.._. ...__ "'--ii 0 II N __ _ (I) YELL\)WSTONE NATIONAL 'r:1 ______ J 11 ARKI :r I I j https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis H z ~ rn t--3 C ~ aa U). ~ 1--d 1--d t-l tr.:1 ~ ~ ~ MAP OF THE CHICAGO, ROCK ISLAND AND PACIFIC RAILWAY SYSTEM AND ITS CONNECTIONS. ~ 0 r' ~ < JANUARY, c:::--- RAILROAD STOCKS AND BONDS. 1889,j ======================================================================================:::::::t • Snb11crlben will conf'er a great f'avor by giving lnunedlate notice of' any error dl11covered In the11e Table■ .Bonds-Prmc 1INTEREST OR DIVIDENDS. DESCRIPTION. pal,When D ·e. Miles Date Size, or · .Amount Stocks-Last; par For explanation of column headings, &o., see notes of of Rate per When Where Pahable and by Dividend. on first page of tables. Road. Bond& Value. Outstanding Cent. Pay'ble W om. Chicago St. Louis ti P-ittsb.-Common stock .••••.••. 702 Pre erred stock (6 per cent cumulative) ..••...••. 702 . 1st mortgage, consol. gold ($22,000,000) ..•.. o & r 580 1st M. Chio. & G't East. (Chic. to Logansport> .. o• 117 do Col. & Ind. Cent. (Colum. to Ind. and br.).c' 208 do Union & Logansp't (U'n City to LOgans).o~ 93 do Cinn. & Chic. Air Line(Rich. to Logans. l. c* 107 2d M. Col. & Indianapolis Central. ..........•... c* 208 Debentures.$1,800,0(lO authorized, but not issued Ohic. St. P. & Kan. Oity-lst, M.,g.(red'lJan., '96).o* 302 Minn. &Northwestern-lstM.,g., $16,000perm 514 Income bonds (conv. into 5 per cent pref. stock) .. Ohic. St. Paul Mi11!polis & Omaha-Common. stock.. 1,399 Preferred stock ..............•............•...•..... 1,399 Consol. mo~age ($15,000 per mile) ..•....•.... c* Chio. St. Pa & Minn., 1st mort., gold .....•.••. c* North Wisconsin, 1st mortBa e ................•. c• 120 Bt.P.&Si'x C., 1stM.,iz-.<$7, O ,000)$10.000p.m.c... 608 St. Paul Stillwater & Taylors' Falls, 1st mort ...•. 23 Hudson & River Falls. lstmort .......•......... c* 12 Minneapolis East RR., 1st mort., guaranteed .•. o* Ohic.& West. Indiana-lstM ,11.,s.f., dr'n at105.c• ·¥s Gen'l mort., gold, sinking fund, red. at 105 ..•. c* Ohicago & West Michigan-Stock. new ..•...•....... 414 Chic.& Mich L.S.RR, 1st M., New Buff. to St. Jo .. ::.27 Gr. Rap. Newaygo & Lake Sh., RR .. lst mort. cp .. 36 Gen'l M. ($12,000 p. mile), 1st M. on 242 miles .. 414 Cincinnati Hamilton & Dayton-Stock ..•...•...•.•. 324 Preferred stock$ Series A & B .•••..••...••...••.••. 324 Consol. mort. ( 996,000 are 7s) $ & £, s. f ..... c• 60 2d mortgage, gold ..•.......•.......•..........•.. c* Cin. Ham. & I. (Junction.) RR., 1st mort., guar .... ·gs Cincinnati Indianap. St. Loui s & Ohicano-Stock .. 413 i77 6 --- -$100 -- ---· isss i864 1865 isM 1888 1886 1884 1888 .... issu. 1878 1880 1879 1878 1878 1879 1879 1882 i869 1871 1881 . --· i875 1887 1873 ..... $9,010,021 17,497,975 13,771,000 223,000 1,000 2,631,000 715,000 108,500 780,000 1:C>oo Nil. 9,<'68,000 1:000 1,000 9,628,000 100, &c. 7,981,700 100 18,559,593 100 11,259,933 1.000 12,742,434 500&0 3,000,000 1,000 800,000 1,000 6,080,000 .... 334,800 125,000 75,000 2,224,000 1:000 1,000 6.396,666 100 6,rno,200 1,000 480.000 1,000 576,000 1,000 2,!:170,000 100 4,000,000 100 1,000,000 1,000 2,894,000 1,000 2,000,000 1,000 1,800,000 100 10,000,000 100 1,000 ·-·· ---· In 1888 it was proposed to isme debentures to fund overdue coupons on the 5 p2r cent mortgage bonds, but none are yet out. For year end. June 30, l 888, gross earr:s. were $5,735,756 against $5,388,474 in 1887; net. $1,302,382, against $1,321,458. V. 47, p. 498. The annual report of this company for the year 1887 was pub llshed in the CHRONICLE, V. 4.6, p. 536, to which reference should be made. OPERATIONS AND FISCAL RESULTS. 1884. 1885. 1886. 1887. Miles of r'd operated 635 635 635 63f> Total gross earns.... $1,396,840 $4,567,596 $cl,842,316 $5,887,180 Op expa. and taxes. 3,602,213 3,807,645 3,966,301 4 ,311,165 Net earnings......... P.o.of op.ex. to earns. Receipts- Netearnin~-- .••. Other receipts •.••. Total income .••. Disbu1·sements- ---------$794,627 $759,051 81 ·93 83·36 OiCOliE ACCOUNT. 1884. 1885. $79!,627 $759,951 80,045 $874,672 $7bl:l,::Ml ··5·g. 7 7 7 7 7 5 5 g. 5 g. 5 ""i" A. "Jt"o. Variom J. & J. A. &O. F. &A. M.&N. J. .&•.J. J. & J. J. & J. J. -&-·J. J. &D. M.&N. J. & J. A.. & o. J. & J. J. & J. J. & J. M.&N. ~.-M. . &, A. M.& 8. J. & J. J. & D . 6 6 g. 6 6 g. 7 8 7 6 g. g. 8 8 5 2 . 1 Q.-F. 5,6,7 A. & 0. 4.lgg. J. & J. J. & J. 7 Q.-\I. 114 r --· N. . --·· --··· Yd Union Trust Co. o do do do do do do do do do ..... --· ooi.""i:··fo32 1893 & '95 Nov., 1904 Deo .. 1905 Aug. 1, 1890 Nov., 1904. i: N. Y.,40 Wall,& London Juiy" "i936 do do Jul} 1, 1934 Ju y 1, 1936 None paid. N. Y., (Jffl.ce, 52 Wall st. Jan:·2Ci889' June 1, 1930 May 1, 1918 Jan. 1, 1930 April 1, 1919 Jan. 1, 1908 July 1, 1908 San. 1, 1909 Nov. i, 1919 Deo. 1, 1932 Aug-. 15, 1888 Sept. 1, 1889 July 1, 1891 Deo. 1, 1921 May 1, 1887 ........... N. Y., Winslow L. & Co. Feb. 1, 1889Oc.t. 1, 1905 do do Jan. 1, 1937 do do Jan. 1, 1903 do do Cincinnati.Treas. Office. D ec. 15, 1888 do do do do do do do do do do do do do do N. Y., Drexel, M. & Co. do do Boston, 26 Sears B'ding do do N. Y. Union Trust Co. Bost., Nn.t. Webster B'k. I tease.) Proprietary road, 5 miles. Total of all, Dec. 31, 1887, 1,399 Thie was a consolidation July, '80, of the Chic. St. P. & Minn~a.p. (formerly West Wisconsin), the North Wisconsin, and the St. P. & S. City. Preferred stock has a prior right to non-cumulative dividend of 7 per eent from net earnings; but common is never to receive ~ore than is paid on preferred. Dividends on pref. stock have been: From 188_1 t<> 188!, inclusive, 7 per cent; in 1895, 4:\i; from 1886 to 1889, inclusive, 6 per cent; in 1889, to date, 1. In Novem!ler, 1882, a controlling interest in the stock was purchased !or the Chicago & Northwestern Railway by the acquisitio11. of 93,200 shares of common at an average price of 48·40, and 53,800 shares of preferred at an average of 104·04:-the total cost being $10,315,659, whicb stock is held as an asset of the Chic. & Northwestern Compan.;y. $876,015 $1,576,0lf> Report tor 1887 was in CRRONJflT,E, v. 46, p. 411. The la.nd salesln 81·91 73 ·33 1887 were 30,671 acres for $89,078, including lots; land contracts and notes on haud Dec. 3 l, 1897, $2,495,571; lands undisposad of, 621,144 acres. Earnings, &o., were as follows: 1886. 1887. $876,015 $1,576,016 OPERATIONS AND FISCAL RESULTS. 1887. 1884. 1885. 1886. $876,015 $1,570,UJ.ti Miles operated ...... 1,399 1,318 1,310 1,365 Rentala paid...... $21,224 $21,224 $21,22cl ~21,918 Int., &c., on debt.. 1,079,602 1,079,241 1,074,121 1,068,77i'i Miecellaneous ··-·· -----,--17,565 95.789 145,324 Total disb'rsm'ts $1,100,826 $1,llts,uo>v $1,Uh,J.v'¼ $1,236.017 Ba.lance ........... . def.$226, 154 def.$358,079 def.$315, 119 sur.$339,999 -(V. 46, p.133, 227,371, oS6; V. 47, p. 498.) Chicago St. Paul & Kansas City.-(See Map).-Main lines (all steel) Cbi<.'ago to Bt. Paul and St. Joseph, mm mi'es; Hayfield to Centra,l Iowa J unctfon 4 7 miles; branches Summer to Hampton 6 ! miles ; to Coal Mines, &o., in 1owa, 10 miles; total owned 811 miles. Leases, St. Paul to Minneapolis, 10 miles; Chicago terminals 10 miles; Dubuque to Aitken, 16 miles: Des Moines terminals, 112 miles; total leased 3712 miles. Total, 849 miles; but only 829 operated, 20 miles being leased to Iowa Central. Organized May, 1886. Amalgamated Decemb~r. 1887, with Minnesota & N. W., which was chartered in 1854. Operations during construction to date have been as follows: 9 mos. ending Year ending Year en.ding June 30, 18E6. June 30, 1887. June 30, 1888. Gross receipts . . . . ••••. $292,6-.?3 $1,216,410 $*i,315,517 Oper. exp. & taxes . • • • 199,485 799,911 l,SU:i,523 Net income............ $96,137 $416,499 $19~,993 Interest . . • • . . . . . . . . • . . 92,000 345,170 595,725 Rentals .••...•........• 163,826 Balance............. sur. $1,137 def. -$tti0 558 Fur. $71,3~8 Av. mileage operated... 109 355 008 Passenger mileage...... Z,070,499 8,199,490 22,350,472 Tonnage mileage....... 16,293,297 71,164,238 187,092,5, ,5 Rate per ton per milo.. 1 ·23c • 1 ·260 ·soc * Including $64,001 59 brought forward. Construction ot lihelast division, 160 miles (Des Moines to St. JosephJ, is since completed, and bonds issued in respect thereof begin to draw interest a.gainst ea.min.gs of 1889. The Co. has also $1,200,000 3-year notes outsta.nding due 1891. M. & N. W. mortg. is limited to $16,000 per mile of road plus certified coat at par of terminals in cities of 50,000, and bridges over the Missifsippi River, provided maximum does not exceed $20,000 per mile; the bonds out11tanding cover the road between Chicago & St. Paul (400 miles) and other road, total 511 miles, with bridge at St. Paul. and extensive terminals in Sr. Paul, Minneapolis an<t Dubuque. 0. St. P. & K. C. 1st M. is limited to $20,000 per mi e of road plus certrfied cost at par or terminals in cities and or equipment as reguired over the whole system, provided maximum does not exceed ltl25,000 per mile on total miledge owned; the bonds outstanding are thus 1st mortg. upon 300 miles between Des !11:oines and St. Joseph and also upon_ sundry equipment together with terminals in St. Joseph and Ka~as City; and further have a lieu upon lhe remaining 511 miles. aubJect only to tne Minnesota & Northwestern bonds as authorized. Common stock ill4,89i,900. par of shares $100. A. B. Stickney, Pres't, St. Paul, Minn. W. L Boyle, Vice Pres't. 40 Wall Sreet, N. Y. (V. 4.6, p. 200, 255, 771; V. 47, p. 353, 531, 593, 595; v. 48, p. 70.) Chicago St. Paul Minneapolis & Omaha.-(See map Chica.go & Northwestern.) Mileag-e: Eastern Div.-Eiroy to St. Paul, 195 miles; River Falls ~ranch, 25 miles; Stillwater Branch, 4 miies; South Still water Branch 4 !Ililes: Eau Claire Branch, ::3 miles; Neillsville Branch, 16 m.; St Paul to Minneapolis, 11 m. (leased); total, 258 miles. Northern DivisionNorth Wisconsin Junction to Bayfield, 178 miles; Aslll.and Junction. to Ashland, 4 miles; Ashland Shore line, 1 mile; Eau Claire to Chicago Junction, 81 miles; Superior Junction to Duluth, 73 miles; total, 3~7 miles .. St. Paw&_ Sioux City Div.-St. Paul to Sioux City, 269 miles; Minn.ea.po~ to Merriam June., 27 miles (leased) ; Lake Crystal to El more, 44 miles; Heron Lake to Pipestone 55 miles; Sioux Falls Junction to Mitchell, 131 miles; Luverne to Doon, 28 miles; total, 554 miles. Nebraska Div.-Covington to Omaha, 126 miles; Coburn June. to Ponca, 16 miles; Missouri River transfer, 2 miles; Norfolk Branch to Emerson, '~ miles; Wakefield to Hartington, 34 miles; Wayne to Randolph, 22 miles; total, 245 milelil. Total, 1,394 miles (38 miles of which unde1· https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---.... .... I miles. Earnings- Passenger ..••.•••••. Freight .•••.•••..•..• Mail, express, &o .••• Gross earnings ....•• Oper'g expenses .••• Set earnings .•••.••• P.c. of op. ex. to earn. $ $ 1,430,711 1,305,515 4,132,530 4,255,398 221,690 253,897 5,784,931 5,814,810 4,007.022 3,721,151 1,777 ,.:1v~ :.1,0l:la,659 69·26 63·99 INCOME ACCOUNT. 1884. 1885. $ 1,413,218 4,466,734 273,315 6,153,267 3,848,575 2,:J04,692 62·55 $ 1,748,225 4,902,910 239,738 6,940,~73 4,633,615 2,307,258 66·76 1887. 1886. $ Receipts$ $ $ Net earnings . •••. ••• 1,777,909 2,093,659 2,304,692 2,307,258 65!,501 741,065 Net from land grants 651,125 721,995 39,954. 73,959 Otherreceipta....... 212,221 33,235 Total income.... 2,641,255 2,848,88\J 3,119,716 3,001,713 Disbursements$ $ $ $ 117,009 82,2138 Rentals paid......... 49,174 62,982 rnterest on debt..... 1,320,146 1,334,32cl 1,337,956 1,337,956 675,4.08 675,408 Div. on pref. stock.. 787,976 675,408 (6) (6) Rate of dividend.... (7) (6) 8,409 9,624. Loss on prop. roads. 13,065 12,524 Tot. disbursem'ts 2,170,361 2,0135,238 2,t::rn,~::n 2,104,061 897,652 Balance surplus..... 470,891 763,651 979,719 -,v. -16, p. 302,319,411; v. 47, p. 170, 396.) Chicago & Western Indlana.-Owns from Dolton and Ham• mon.d, Ill., to Chicago, with a belt railroad and branches, with wal'8 houses, elevator, &c., 48 miles of roads and 135 miles of track in all including 2d, 3d, 4th.and sidin(J' track (of which 51 miles w&re-leased to the Belt R'y of Chica.go), and about 400 acres of real estate. This company leases its road for right of way into Chicago and terminal facilities therein to the Wabash, the Gr. Trunk of Can., the Chio. & E. Ill., the Chic. & Atl., the Louisv. New Alb. & Ohle. and Chio. 8. Fa & Cal. roads; the annual rentals stipulated exceed the interest charge oonsid• era.bly. The stock is $5,000,000 and bonds are limited to $10,500,000: the bonds are liable to be redeemed at any time at 105 by a sinking fund, which is provided for by increased rentals to be pa.id for that purpose. Sinking fd. payments in 1898 about $85,000, applying only to 1st mortg. bonds . . In 1987 gross receipts were $699,501: aurplu.s over flx:td charges, $168,829.-(V. 47, p. 201.> Chicago & West Mlchlgan.-Owns from Lacrosse, Indiana, to Pentwater, Mich., 209 miles; branches-Holland Junction to .Allegan, 23 miles; Holland to White Cloud, 70 miles; Fruitport to Muskegon, 10 miles; Kirk's Junction to Pickand's Junction, 3 miles; Muskegon to Port Sherman, 6 miles; Woodville to MUBkegon River, 18 miles; Mears to Hart, 3 miles; B. R. Junction to Big Rapids, 52 miles; White River Junction to Baldwin, 20 miles; total oyerated, 414 miles. In 1887 lea.sed to Chicago& Ind. Coal RR., about 18 miles. Organized as successors of Clncago & Mich. LakeShoreJan.1, 1879, and consolidated in Sept., 18S1, with the Grand Haven road, a.nit the Grand Rapids Newaygo & Lake Shore. There are yet outstanding $24.000 G. R. N. & L. 8. ~d Div. bonds. . Dividends smce 1880 have been: In 1881 and 1882, 212:per cent; in 1883, 3; in 1884, 4; in 1885, 112; in 1836, 3; in 1887, 2¼; 1n 1888, 2. Report for 1887 was in CHRONICLE, V. 46, p. 770. Cincinnati HaJDllton & Dayton.-Owns from Cincinnati, O., to Dayton, 0., 60 miles; McComb to Deslll.er, 9 miles; Bowlin~ Gree• RR., 6 miles: Troy & Piqua RR., 8 miles; leases-Dayton & Michigan, Dayton to Toledo, 142 miles; D?shler to Findlay, 11 miles ; Cincinnati Hamilton & Indianapolis, Hamilton to Indianapolis, 99 miles. Total operated, 324 miles. In Aug•• 188'3, the Cin. Rich. & Chicago was transferred to the Chicago St. Louis & Pit ?sburg. rn June, 1887, authority to issue $10,000,000 pref. stock was voted and part was issued under the Ives management, but was contested. The bonds issued in 1887 are a second lien on the main line, 60 miles, and also cover the road from MoComb to Deshler, 9 miles, the .:,1er9etual leases of the Dayton & Michigan and Cinoinna.t1 Richmond & ..,111oago roads and $1,3116,653 of debt olatmed to be due from the Oi.lo1..1U1at 1 Hamilton & Ind. RR. Co. INVESTORS' SUPPLEMENT. 3: r https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FOUERLY MINNESOTA AND NORTH-WESTERN RAILROAD. [VOL. XLVIIL RAILROAD STOCKS AND BONDS. JANUARY, 1889.J 4:1 Sub•crtber• w-Ul coole r a ~rea& f'a v o r b y pvlo : Immedia te 11.o tlce of' any error dl•covered lo &hese Table•. .Bornu--Pr1notINTEREST OR DIVIDENDS. DESCR:iPTION. Miles Date Size,or Due. Amount Rate per When Where P-Wiable, and by pal,When of Par Outstanding For explanation of column headings, &o., see notes of Btocka-Laet hom. Cent. Payable on first page of tables. Road. Bonds Value. Dividend. --- ---- Oinn. Indianap. St. Louis cl Ohicago-( Oont'd)- lndianapolie Cin. & Laf. M., let on 64 miles ..••. c Cin. & Ind., 1st mortgage.............. . .•...•.. o 2d M., guar. ($23,750fundedooups.) c do Gen. 1st M. J{., s.r. l p. o., but bonds not dr'n .. c&r Consol. mort., drawn at 105,s. r. 1 per oent ...•. c• Cincmnati Latakette & Chicago, lstmort., gold c. Dinn.Jack.cl Mac .-bt,consol.,t;-($10,000 p.m.) c' Cincinnati Van Wert & Mi('h,. st mort . . ....... o* 2d M., iac., non.cum.,red. at 100 do do OincinnatiLebanoncf Nor.-1st m. (for $200,000).c Oincinnati cf Muskingum Valley-1st mortgage .... 151 20 20 Cincinnati Bew Orleans cl Texas Pacific-Stock ..••. 336 36 86 214 214 Oin. Richmond cl Ohic.-lst mort., guar...•..••.... . Oin. Richmond cl Ft. W.-lst mort., gold,int. guar . Oiff.Cinnaii Sandusky ct Oleveland-Stock ....•...... Preferred stock ..••...•......•............•......... ll!!t M., 8.Da.y.&C. ( \fa1.Riv. & L. E .) dr'n at 100. . c 2d mortf Cine .. Sandusky & Cleve ..•....•....... c Consol. st M. ($3,000,000) gold ..... . .......•.. c Oinmnnati cl Springfield-lat mortgage, guar .... c "iiiciii,;iz;i~iocii ($3,ooo:ooo> o~=~\asii:;; Oi-ncinnati Washington cl Baltimore.C. & B., 1st M., Cin. to C. &S.Junc.,5m.,assumed.c Baltimore Short Line, 1 a, t mortgage, assumed .. c Prior lien mort., gold (lBt M. on 246 m:ile,) ....•. c lstM. (subj. to aboveM.) ,g. (;t;6,250,000 are412s gu.c 2d mortgage, gold .••...................•...•..... c 3d mort., gold 13 pr. ct. for 10 years and 4 after) c 1st income mort., non-cumulative, gold ........ . c~ 2d income mort., non•cumulative ........ . ... . .. c• All. 175 56 331 ·-·· ·ss 148 1867 $1,000 1,000 1862 1,000 1867 1886 1000&0 1,000 1880 1,000 1871 1,000 1881 1881 100 &c $131,000 297,000 789,750 6,764,000 792,000 869,000 2,056,000 1,200,000 i886 H0,000 1,500.000 3,000,000 560,000 1,800,000 4,015,750 428,850 252,000 1,100,000 1,000,000 2,000,000 651,000 2,043,200 (1) 1871 1:000 1,000 100 1,000 1,000 50 50 1,000 48 48 165 1871 1872 1:000 1,000 1,000 5 30 281 281 '..:81 281 281 281 1870 1874 1883 1883 1870 i866 .... is66 ·--· 1868 i10 1888 .... .... 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1883 1 1883 1883 188~ In June, 1887, a controlling interest in the st-ock of the Terre Haute & Indianapolie RR. was purchased. The failure of H. S. Ives & Co., in August, 1887, placed the affairs of this company in a. complicated situ• ation. The securities in its treasury had b t en used largely for loans, and preferred stock to an unknown amount had been issued and pledged by Ives & (Jo. This matte r, with all others pet·ta.inmg to the years 1887·8, were explain e d in the President's report in V. 46, p. 769. At the e:ection in June, 1888, the Ives par-ty was deft1a.ted. Dividends on (?Ommon stock since 1_8 82 have been: ~n 1~83. 9 per ce11;t; m 1884, 6; m 1885, 6; iu 1886, 7; m 1887, 6; nothmg smce. On series A and B pref. stock from. Jan. l, 1883, to July, 1886, at rate of 6 per cent per annum; from July, 1886, to date, at rate of 4 per cent . yearly. ends March 31. R eport for 1887-88 was m CHRONICLE, V~6cal _ . _ _ · 'p. · 1887 88 1886 87 · 1885 86 • Gross receipts .....••...•..•...••• ·$ 2,856,559 $3,122,141 $3,180,19 8 $2,037,273 Operating expenses and taxes .. $1,813,899 $1,P47,218 120,000 325,259 236,940 C.H. & D. div., com. and pref.. 576,959 507,443 490,718 Interest.......................... 17l.401 132,024 132,020 D. & M. dividends............... 7:'J.!'i4~ 8,812 Miscellaneous .••..••..•••......•. -c,-c~c,-c--=-c== Total $ 2 ' 673 ' 577 $ 2 •920 •756 $ 2,97 "... , 175 · · • •· • • · · • • · • • • · · • • · · • • · · $501,023 $201,a85 Net surplus.......... . .•..••• $182,982 -(V. 46, p. '769,802, V. 47. p. 170,563, Olnclnnatl Indianapolis St. Louis & Ohicago.-(See Map.)Owns from Cin. to Lafayette., Ind., 174 miles; Lawrenceburg branch, 4 miles; Harrison branch, 8 miles; Fairland F. & M ... Road, 38 miles; a.n.d Cincinnati Lafayette & Chicago (leased), 76 miles; Vernon Green. & Rush,, 44. miles; Kankakee & Seneca (one•haif owned), '13 miles; Col. Hope & Green., 26 miles; total operated, 413 miles, but statement of earnings for 1887·88 below covers only 303 miles. This company was formerly the Indianapolis Cin. & Lat., which road was sold in foreclosure Feb. 2, 1880, and this company organized. The new 4 per cent morto-ag;e for $10,000,000 <Central Trust Cl). a.nd Hervey Bates, trustees) wji'f retire all other bonds as thev fall due, and leave a surplus of $1,000,000 for other purposes as needed. The sinking fund for these bonds is 1 per cent yearly of the amount of outstanding bonds; payments lapse when bonds cannot be purchased at 10212 and interest. Dividends since 1880 have been: In 1881, 6 per cent; in 1882, 6; in 1883, 3; in 1884, O; in 1885, 1; in 1886, 414; in 1887, 5; in 1g8::1, 5; in 1889 to date, 114. From July 1, 1888, to Nov. so, 1888 (5 mos.), gross earnings were $1,168,544, against $1,169,460 in 1887; net, $413,048, against $462,133. Fiscal year end$ June 30; report for 1887·8 was in v. 47, p. 380, 383. yi:o INCOME ACCOUNT. 1884-85. $ Net earnings .••...••• 935,678 Interest on bonds ..•• D1VIdends ..... . .•.... Rate of dividends ... Misoella.neous ..•..• _. 624,482 Disburse:ments- 1885•86. $ 986,872 624,23! 210,000 (3-p. o.) 18,844. 1886-87. $ 1,052,296 643,267 332,500 (4%p.c.l 15,582 1887•88. $ 1,076,823 514,653 500,000 (5 p. c.) 4,559 991,349 1,019,212 853,078 653,527 Tota.I disbursem'ts. 57,Gll 60,947 133,794 282,151 Ba.lance, surplus..... -(V. 46, p. 102,254.255, 352,480,609,802; V.'17,p.H,226,380,383.) Olnclnna&I Jackson & Mackloa-w.-Owns 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 Co. was formed Feb. 12, 1886, by consolidation of the Cincin. Va.n Wert & Mich. RR. and the Jackson & Ohio RR. In 1837 purchased the Mich. & Ohio sold in foreclosure. The bonds are issued at $10,000 per mile, covering also equipment which cost about $1,000.000. The authorized issue or 1st consol. bonds is $6,000,000; pref. stock 6 p. c .. non•cumulati ve, $7,350,000, and common stock, $13,500,000, of which $11,269,500common and $3,882,000 pref. were outstanding June 30, 1888. Of the 1st consol. mort., $1,200,· 000 will be used to retire the same amount of Cin. Van Wert & Mich. 1st mort. oonds, due 1901, which are a :first lien on 8119 miles (called the Central Division) between Cecil, 0., a.nd Greenville, O.; of the $5,882,· 000 pref. stock, $1,200,000 is in trust for retiring same amount of the 2d mortgage incomes, now being exchanged. See abstract of mortgage (Central Trust Co. or New York, trustee) Vol. -15, p. 574. Fiscal year ends June 30. For the year ending June 30, 1888, ~ross earnings were $520,465; operating- expenses, $414,187; net ea.rnmgs, $106,278; interest and rentals, eto .• $229,941. See report V.47, p. 563. -(V. 45, p. 5'71, 574; V. 46, p, 38, 134; V. 47, p. 563, 801.) Olnclnnatl Lebanon & Nor&hern.-Cincinna.ti, 0., to Dodds, O., 36 miles; branches, 2 milea; total, 38 miles. This Co. was formed in 1885, as successor of the rnnn. Northern, sold in foreclosure. Stock is $988,000; par, $100. In 1887 gross earnin,e;s were $111,717; ne t, $25,· 477; surplus over charges, $20,477. Cincinnati & lliusklngum Valley.-Owns from Morrow, O., to Dresden Junction, O., 148 miles . Sold under for eclosmc D ec . ;;, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I 7 7 7 4 6 7 5 6 6 5 7 3 7 7 5 3 6 7 5 7 7 F. &A. N. Y., Drexel, M. & Co. do do J. &D. do J. & J do g. ~.-F. N. Y., Central Trust Co. .&N. N. Y., Drexel, M. & Co. do do g. M.& 8. g. J. &D. N. Y., Sheldon & Co. do J. & J. do Feb., 1897 Deo., 1892 Jan., 1892 Aug, 1, 1936 May 1, 1920 Sept., 1901 Dec. 1, 1936 Jan. 1,1901 Jan.1, 1930 . J. & J. Clnn., 4th Nat'l Bank. July 2, 1916 J. & J. Jan., '86, op. last paid . _ Jan.1,1901 Feb. 5, 1893 J. ·:,;·J. N.Y., Winslow, L. & Co. July 1, 1895 g. J, &D. N.Y., Winslow. L . & Co. June 1, 1921 Bos'n Office, 3M6r. Row Aug. 6, 1888 do do M:&N . Nov. 1, 1888 F. &A. Boston, Nat. Revere Bk. Feb. 1, 1900 J. & D. Bos. Office, 3 Mer Row. June 1, 1890 g. J. & J. N.Y.,UnionTr.&Boston. Jan. 1, 1928 A.. & o. N. Y., U. B. Trust Co. April 1, 1901 do do J. & J. Jan. 1, 1902 .... 7 500,000 7 750,000 4lgg. 500,0CJO 7,500,000 !lgg& 6g 5 g. 3,040,000 2,270,000 3rf 3,214,000 5 4,000.000 --· -... . .......... J. & J. Cin., C. W. & B. Office. do do J. & D. A. & O. N.Y.,Farm's'L.&l'r. Co. M. & N. 6s, '1:ato,'88,cp.last paid. J. & J. July, 88, op. laot paid. ~ A. No interest pa.id. No interest pa.id. .••• IF.. .. ........ Jan. 1, April 1, .A.pril 1, Nov. 1, Nov. 1, Nov. 1, Nov. l, Nov. 1, 1900 1893 1893 1931 1931 1931 1931 1931 '69, and reorganized as at present Jan., '70. Road wa<J leased for 99 years from Jan. 1, '73, to P. C. & St. L., but on Dec. 31, '85, the C. & M. V. Co. resumed possession. A decree for the sale or the road was made in 1887. Gross earnings in 1886, $391,132; net, $74,511 interest, $:.. 05,000; deficit, $62,155. In 1887 gross, $441,054; net, $44,695; de• flcit under fixed charges, $102,252. Amount due lessee Dec. 31, 1887. $1,081,013, and for coupons up to July, 1888, not presented, $263,550. Capital stock, $3,997,320. Clnelnnati Ne-w Orleans & •.rexas Pacifl.c. (See .Map).-Thisis the company organized under the laws of Ohio Oct. 8, 1881, to operate the Cincinnati Southern, and 51 per cent of the stock is held by theEngLish companies, the Ala. Great so. Ry. vo., Lim., and the Ala.., New or. & Tex. Pac. J. Co., Lim. The Cincinnati Southern road extends from Cincinnati to Chattanooga, Tenn., 336 mil~s. The Ala.. N. 0. & T. P. _also controls the Vicks. & !'[e~·., 1~2 miles; V10ks. Shrev. & Pac., 1_8 9 miles: N. O. & No. East., 190 miles, and Spanish Fort RR., 13 miles. See title in this SUPPLEMENT. The rental due the Cincinnati Southern is $912,000 till 1891, $1.012,000 till 1896, $1,102,000 till 1901, and $1,262,000 t,ill 1906. For action of Ohio Senate relative to lease ot Cinn. Southt'ra see V. 46, p. 319. Dividends since 1881 have been: In 1882. 119 per cent; in 1883, 3; nothing since. From Jan. 1 to Nov. 30, 1888 (11 mos.), gross earnings were $3,304,993, against $3,079,445 in 1887; net, $9J6,000, against $1,165,657. The annual report tor 1887 in V. 46, p. 252, gave the following income account for tour years: 1887. 1884. 1886. 1885 Total earnings....... $2,658,18'1 $~,681,546 $2,882, t 72 $3,377,552 1,753,879 2,034,57 2 l,t>l6,735 Working expenses... .!.,754, 174 $904,010 $1,064,8ll $1,1~8,~U2 $1,342,980 Net earnings . .... Deduct- $82,214 $W,700 $93,800 $82,800 For taxes............ 912,000 834,043 812,000 812.000 For rental............ $994,~1' $913,743 $905,800 $894.,bOU Total . ... . . ... . ... $348,700 $214,549 $159,011 $9,210 Surplu.s revenue..... -(V. 43, p. 125,210,774; V. 4-1, p. 21, 2-13; V. 45, p. 819; V. 46,p. 25~ Cincinnati Richmond. & Chlcago.-Owns from Hamilton, o., to Indiana State Line, 37 miles; lea es, Richmond, Ind., to Ohio State Line, 7 miles; total operated, 44 miles. Leased in perpetuity from Feb., '69, to Cinn. Ham. & Dayton Co., but in Aug., 1888, lease tran.aferred to Chlo. s ~. L. & Pitts. There are 2d M. bonds for $65,000, due. Julyl, '89. Capital stock, $382,600. De.fl.cit under expenses in year ending Mar. 3 L,'83, $!,842. (V. 46, p. 573, V. 47, p. 170, 226.) Cincinnati Richmond & Fort Wayne.-Owns from Rich mond, Ind., to Ada.ms, Ind., 86 miles; leases 5 miles of Pittsburg Fort Wayne & Chicago; total operated, 91 miles. Leased for 99 yea.rs to Grand Rapids & Indiana, the rental being net earnings; interest is ~uaranteed by the lessees a.nd by the Pennsylvania Compa.ny and Cincmnati Hamilton & Dayton Company, jointly. Gross earnings in 1887, $418,508; net, $100,492; loss to guarantors, 'fl30,961. Grosa in 1886, $383,5!:15; loss to guarantors, $68,166. Capital stock, $1,709,313; par$50. Tota.I advances by guarantors to Dec. 31, '87, $1,0S7,593. Cincinnati Sandusky & Oleveland.-Owns from Bandu.sky. Ohio, to Dayton, Ohio, 154 miles; branch, Carey to Findlay, 16 miles; leases Columbus SJ?ringfteld & Cincinnati, 44 miles; total operated, 214 miles, less the division between Springfield & Dayton, 24 miles, whicb la leased to the Clev. Col. Cinn. & Indianapolis. The preferred sto ok ha.s a lien by deposit of old bonds m trust. Tbe mortgage of 1888, due 1928 (trustee, Am. Loan & Tr. Co. ot Boston), was to retire the preferred stock: and prior bonds when due, $2,600,000 bonds being pledged for tb.is purpose. In A.prli, 1881, a lease was made to the Indiana Bloom. & West'n, but in March, 1888, road reverted to owners . Dividends since 1876 have been: On preferreJ, 6 per cent yearly to date; on common, in 1882, 2 and 10 iu stock Col. Sp. & Cin. RR.; in 1884-, 2; in 1888. 5 out of judgment a.gat. Ind. Bloom. & We.st. {V. 45, p. 613_; v. 46, p. 771; v. 47, p. 81, 10.:3, 326; v. 48, p. 99.) Cincinnati & Sprlngfteld.-Operates trom Cincinnati, Ohio, to Spring.tield, Ohio, 80 miles, of which 32 miles are leased from O\.her companies. The whole is leased and operated by Cleveland Col. Cin. & Ind. Co., giving them a line into Cincinnati, and depot a.ccommoda.tlon. Lessees apply any excess over operating expenses and interest to C. & S. stock. Interest is guaranteed on the first mortgage, one-ha.If by the lessees and one-ha.lt by L. Shore & Mich. Southern. Stock is $1,100,000 (pa.r $50), voting power on $616,450 being held !>y trustee for C. C. C. & I. To January, 1888, tne C. C. C. & I. had advanced $2,815,754. Gross earnings in 1887, $1,202,06j; net, $192,321; intet·est, $185,570 ; balance, $6,571. Oinclnnatl Wabash & Dilchigan Rallway.-Owns from Benton Harbor, Mich., to Anderson, Ind., 165 miles; uses C. O. C. & I. tra.cks Anderson to Indianapolie, 37 miles. Sold Nov. 5, 1879, and reorganized April, 1880. Stock, $2,044,159. Gross earnings tor 1886, $389,139; net over charges, $98,404. Gross iu 1887, $153,585; net over charges, $10i,9.:39. J. H. Wade, President, Cleveland, Ohio.-(V. 45, p., 341, 538.) Oinclnna'1 Washington & Bal&imore.-(See Map of BaU. ct Uhio.J-Cincinnati, 0., to B elpre, 0., 193 miles ; bra nches-Marietta to B elp1·e, 11 miles; Portsmouth to Hamden, 55 m .; Blanchester to Mills· boro, 22 m ; t ot al, 281 m. INVESTORS' SUPPLEMENT. [VOL. XLVllL c:========================= ====================== https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis lla&Jaon. V. MAP OF THE CINCINNATI, INDIANAPOLIS, S-T. LOUIS & CHICAGO RAILWAY & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis /' / / I ~I I I ~~ Q C ~ ~ ~ v ~ ~ MAP OF THE .CINCINNATI, NEW ORiEAN.S AND -TEXAS PACIFIC RY AND CONNECTIONS. INVESTORS' SUPPLEMENT. [VOL. XLVIII, Subscribers will confer a great Cavor by giving lmmecUate notice of' any error discovered In these Tables. DESCRIPTION. For explanation of column headings; &c., see note on first page of tables. Clearfield cf Jefferson-lat m~<l by Bell's Gap .. c* <JWoetand Akron cf Ooluml,us tock ........ . .....•. 1st mort., g6ld,redeemable at par after 1890 .. . c* •General mortgage, gold (for $1,800,000). ··-· ..•. ,Cu,:ela'lt.d tt Oanton-lst mortga.~e ........ . ......•. OWoeland Oolum"bus Oincinnati tt Ind.-St ock ..... 1st mort. Bel. & Ind. (about $21,000 red. yearly) do C. C. C. & I. sinking fund ........... Cons. M. (s. f.1 p.c.) drawn at 100 nnless stamp'd General consol. mort., gold (for $12.000,000) ..•. -Olet,el. Lor. tt Wheel.-01. Tusc. Val. & W. 1st M .... Qlet,eland tt Malwning Valley-Stock ••••..•••..•.... 1st mortgage, extended ......................... c* 3dmortg. (now2d) ............................•. c* 'C<msol. mor'u. for$3,000,000, (reg. int. Q.-J.)c&r Niles & New Lisbon, 1st mortgage . ....... . .... c* (}lefJetand & Marietta.-lat mortgage ............ c&r OWoe. cf Pittst>.-Btock, 7 p. ct. guar. by Penn. Co .. 4thmortga~i6 (now lst) ..............•.......... .. c Consolidate sin.king fund mort. lor $5,000,000.c Constr'n and equip'tinc. bds., Ber. ·•A"} 8.f.drn.c do do Ser. "B" at H,O.c -OletJ. St. L. d:Kans. Oitt""lst M. (for :f,7,000,000).c' t Bridge and Terminal . for $4,000,000, g .... . . c' Colorado Oentral-lat M., new, ($15,000 per mile)c Colorado Midland-lat m., gold ($25,000 p. mile)c* 2d M.(lstM.JeromeP. Br.), inc. cum. till '91,g.. c* 3d M. (for$3,000,000), g., income cum. till '93 . . c* Equip bds. ($500,000), dr'n at 105 (s.f. in '90). c .. Columbia rl Greenmlle-lst mort., g'ld,coup. or reg. o~:~"::'i>';;,:t" .veposte.:.:iai.mortgage::::::::: :::c Columbus tt Oinn. Midland-1st mort ..•......... c ~ Bonds-Prinoi INTEREST OR DIVIDENDS. Miles Date Size, or pal,When DuP. Amount of of Par Rate f.er When Where P~able, and by Stocks-Last Outstanding Road. Bonds Value. Cen. Payable horn. Dividend. --- ----· ·- - - 37 1883 $50o&c. 195 144 195 161 738 119 39l 391 391 158 125 67 67 125 35 225 199 199 .... .... .... 323 252 267 267 i64 164 40 71 iss·6 1887 1887 is64 1869 1874 1884 1878 isfa 1876 1888 1870 1887 is62 1867 1873 1873 1888 1888 1879 1886 1888 1888 1888 1881 1881 1868 1884 $1,000,000 6 J. & J. Phil.,Guar. Tr.& 8.D.Co Jan. 1, 1927 llg 100 4,000,000 N. Y., J. A. Horsey. Feb. 1, 1882 6 g. J ..&.J. 500 &c. 260,000 do do Jan. 1, 1926 5 g . M.& 8. 500 &c. 1,215,000 do do Mar. 1, 1927 2,000,000 1,000 5 J. & J. N. Y.8.V.White; Bos. I. Tr July 1, 1917 100 14,991,600 1-¼ F. &A. N. Y., U. 8. Trust Co. Feb. 15,1889 1,000 254,000 J. & J. 7 do do UntilJan.1899 3,000,000 1,000 M.&N. do do 7 May 1, 1899 1,000 3,920,000 7 or 6 g. J. &D. N. Y. Drex.M.&Co.& Lon June 1,1914 6 g. J. & J. N. Y .. U. 8. Trm1t Co. Jan. 1, 1934. 1,000 3,205,000 1,000 700,000 7 A. &O. N.Y .. Union Trust Co. Oct. 1, 189~ 50 2,759,200 Quar. Cleveland, Office. 35a Dec. 1, 1888 500 &c. 654,000 7 g. F. &A. N. Y., U. 8. Trust Co. .A:ug. 1, 189.:S 500 &c. 487,900 7 M.& 8. do do Sept. 15, 1896 l,OOO&c 1,500,000 5 g. .J. & J . N.Y.,Winslow,La.n.&Co. Ja.n. 1, 1938 500,000 500 &c. 7 J. & J. N. Y .. Union Trust Co. Jan., 1890 1,000 600,000 6 F. &A. N. Y., John Paton & Co Aug 1, 1937 50 11,247,036 l¾ Q.-M. N. Y., Farm. L. & T. Co. Dec. 1, 1888 1,104,844 J . & J. 500 6 do do Jan. 1, 1892 1,982,000 1,000 M.&N. do 7 do Nov. 1, 1900 1,000 1,589,000 do J. & J. do 7 Jan. 1. 1913 1,000 404,000 J. & J. do 7 do Jan. 1; 1934. 500,000 5 g. J. &. D. N.Y., Holland Tr. Co. 1,000 Dec. 1, 1927 (1) 5 g. F. &A. 1,000 do do Aug. 1, 1028 1,000 4,701,000 7 J. & J. N .Y.U.P. Of.&Un. Tr.Co July 1, 1909 1,000 6,250,000 6 g. J. &D. N.Y., Central Tr. Co. June 1, 1936 1,000 1,500,000 6 g. F. & A. New York City. Feb. I, 1918 1,000 2,000,000 6 g. M . &N. do do May 1, 1913 1,000 303,000 'i M.& 8. N. Y., 8. S. Sands & Co. March, 1898 2,000,000 6 g. J. & J. N.Y., Rich & Da.n, 2 Wall Jan. 1, 1916 1,000 1,000 1,000,000 6 A. &O. do do April 1, 1923 1,000 1,882,000 F. &.A.. Phila., Penn. RR. 7 Feb. 1, 1893 1,000 2,000,000 J. & J. N.Y., Farm's' L.&Tr.Co. Jan. 1, 1914 6 I The Marietta. & Cincinnati Co. was sold in foreclosure Dec. 9, 1882, and re-organization was made Feb. 7, 1883, under this name. In Nov., I 1888, default was made in payment of c oupons on 11ome of the ~st mort. bonds, both 6s and 412s, and on Dec. 31, 1888, Col. Orland Bnuth and Henry U.Yer~ason were appointed receivers. • .E_teorga.nlzationco~mittee, T. E. He.rnson, E. R. B11,con and Jno. H. DaVIS. The Ba.It. & Oh10 has a lien againetthe property ln a.judgment f nr $1,220,198, while the :floating debt additional is ~bout $668,000. (See C1mvNICLE, V. 48 , p. ~7, 100). The com. stock 1s $5,886,100; pret., $12,::,93,200; par $100. Ot the :first mortgage bonds, $1,250,000 bear 6 per cent, the balance bear 419 per cent and are guaranteed by the Ba.It. & Ohio RR. Co. The income bondholders have voting pnwer. Baltimore Short Line mort. -0overs 30 miles of main line from Belpre westerly. The $300,000 Scioto & Hocking Valley bonds due in 18 88 "ere taken up, and are held for tbe account or the company. For the year endlng June 30, '88, a report was given in v. 47, p. 498. Report for year ending Dec. 31, 1887, was m CHRONICLE, v. 46, p. 536. INCOME ACCOUNT. 1884. 1885. 1886. 1887. Gross earnings ... •••• $1,854,308 $1,705,270 $2,010,406 $2,238,004 Net earnings......... $445,937 $240,440 $547,463 $622,164 $ 693 , 275 $ 693 ,175 $ 693 ,175 InDist.·o~ubr~~d:its~bt.. $ 692,,on , 594 _____ 1 213 _ _ _ _ 408 0w.er int. &miscel. -• -_ _28 ___ _ ____ Total dlsbursem'ts. $720,667 $694,488 $693,583 $693,175 $274 730 $454 048 $146 120 $71,011 Balance deficit ' ··· ··· ' ' ' -(V. 46, p. 536; V.47,p. 285,498 , 801 ; V. 48, p. 37, 66, 100.) Olear:fleld & J e.fferson.-From Irvona., Pa. (terminus of Bell's Gap RR.) to Horatio on J:Suif. R. & P. road, 37 miles. Road o r eued Jan., 1888. Stock, $1,000,000; par $50. Bonds are guaranteed by Bell's Gap RR, Co.,which operates the road under lease for 99 years from 1886. Ol~eland Akron & Columbus Kailway.-Owns from Hudeon, O., to Columbus, 0., 144 miles, and branch, Kilbuck to Janesville, 50 miles; total, 195 miles. The Cleve. Mt. Vernon & Del. was sold in foreclosure in 1882, and re:m~a.nized under this title in Jan., 1886. The 1st mortgage bonds may be redeemed after 1890, and or the general mortgage sufficient were held to retire the firsts. Gross earnings in 'So, $542,915; net, $130,532; charge!;', $56,828. Gross in '87, $609,530; net, $151,102: surplus over fixed c narges, $33,901, out of which paid dlvidend (1½ per cent) $60,000. Report for '87 in V. 46, p. 677. Cleveland & Oanton.-Line of road-Cleveland to Coshocton, O., 115 mUes; Canton to Sherrodsville, 43 miles; small branches, 8 miles; total, 166 miles. Made standard g !mge in Nov .. 188 8. The Connotton Valley Rwlroad was sold in fore.closure May 9, 1885, and this company wa.s organized. Capit al stock is $3,067,300 common and $7,582,100 preferred; var $100. The mortgage of $2,000,000.was iasued t o change the gauge to standard, &c. (Bee V. 46, p. 228.) The full report for year ending June 30, 1888, was in V. 47, p. 533. The gross earnings tor year ending June 30, 1888, were, $ 385,361; n et , $124,ti75 ; surplus over inttrest. $9~,252. See full report in V. 47, p . 533. From July 1, 1888, to Dec. 31, 1888 (6 months) , gross earmngs were $194,773, against $200,810 in 1886-87; net, $62,163, a"'a inst $68,353. (V. 46, p. 200,227,320,448,480,481,677; V. 47, p. §1, 498, 533, 664.) Oleveland Columbus Cincinnati & Indlanapolls.-Owns trom Cleveland, O., t o Columbus, 0 ., 138 miles; G alion, O., to Indiana.polis, Ind., 203 miles; Delaware, O., to Springfield, 0., 50 miles; total owned, 391 miles. Leases: Cin. & Spring. RR., 80 m. ; Levering Station to Mount Gilead, 2 m.; Ind. & St. Louis RR., India napolis to Terre Haute, 72 m . ; St. L. Al. & T. H ., East St. L. to T brre Haut e, 189 miles; Alton branch, 4 miles; total owned, leased a nd op erated, 738 miles. This was a consolidation in April, 1868, embracin g the C. C. & C. and the Bellefont aine roads ; subsequently leased Cinn. & Spring . RR. and St. L. Al. & T. H. RR.'s main line, and p urchased Ind. & St. L. RR. In 1882 the Co. acquired control of the Indianapolis & St. L., and made a new lease of the St. Louis Alt. & Terre Haute's m ain line. The sinking fund provision of consolidated bonds may be canceled at option of holders, and the bon ds so stamped. Dividends since 18 79 have been: In 1880, 2¼ per cent ;~in 188 1, 5; in 1883, 2; not fill.l g since till 1889, 114. Range ot stock prices since 1882 has been: In 1883, 54@84; in 1884, 28@69½; in 1885, 23@6!:); in 1886, 43½!@7519; in 1887, 47¼ @68; in 1 888, 4212@65; In 1889 to Jan. 18, inclusive, 5 5 ½1l!60lg. In 1888 gross earnings (including ctn. & Sprin~. and Ind. & St. Louis), partly estimat ed, were $7,581,339, against $8,056,008 in 1887; net, $2,266,507, against $2,820.~78; surplus over interest and taxes, $375,851, against $797,001 in 1887. The annual report lor 1887 was in the CHRONICLE (V. 46, p. 4.10.). On the C. C. & I. C. proper, the re.sults for .four years were as follows : 1884 1885 1886 1887 $ · $ · $ · $• Earnings899,435 797,679 849,168 991 445 Passenger .. ·-······· · 2 518 873 2 471 863 2 877 1 - 7 3 o• 17 561 Freight ..••..•••..• •. • ' 182 ' 038 ' 136• 865 ' 194':J 'l963 8 o 165 Mail, express, &c .... , , • • Total gross earn'gs. 3,600,346 3,456,-107 3,920,490 4,358,389 Oper. exp. &taxes... 2,875,853 2,812,182 2,699,3tll 2,915,931 Net earnings......... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 724.4.93 644,225 1,221,129 Receipts- Net earnings Rentals and Miscellaneous interest INCOME .A.CCOUNT. 1884. 1885. $ $ 724,493 644,225 211,396 213,032 13,805 1886. $ 1,221,129 263,626 1887. $ 1,442,45& 258,004 ···· ··· Total income .•• 949,694 857,257 1,484,755 1,700,462 Dismtrstmentsc te t d bt 602,540 659,385 702,810 700,675 n res on e · · •• 102,633 79,896 2,133 1,800 Miscellaneous.··· · · · Total dlsbursem'ts 705,173 739,281 704,943 702,475 Balance surplus..... 241,521 .. 117,976 • 779,812 *997,987 - *Additions to property: In 1885, $177,144; in 1886, $18Q,418; in 1887, $422,007.-(V. 46. p. 320. 399,410, 413, 537,738,827; V. 47, p. 108, 256, 381, 531, 533, 663, 8 01.) Cleveland Lorain & Wheellng.-Owns from Lora.in, O .. to West ~~~~Wa~·viti;n&~~~f~1c!a~o8~~ll~;eb?.1!8r·an~h~e~!:!~~g as Cleveland Lorain & Wheeling. Common stock is $1,000,000 and preferred $1,600,000. There are also $150,000 1st mort. 6 per cent bonds (int. J. & J .J, due July, 1895 In '87 gross earnin~s were $1, 102,882; net, $366,021. Div. 3 p.c. on pref. sto3k in '87. (V. 46, p. 609, 616.) Cleveland & Mahoning Valley.-Owns from Cleveland, O., t o Sharon, Pa., 81 miles; Niles, 0., to New Lisbon, 0., and branches, 44 miles; total operate<l., 125 miles. A new lease was made to the reorganized New York Penn: & Ohio RR. till 196'!; the rental is $502,180 per year. Dividends have been paid at irre~ar periods, and amount to 11 or 12 per cent per annum. The new bonds in 1889 ltrust ee of mortgage, Cent. 'frust Co.) were for double-tracking between Cleveland and Youngstown, for terminals, and $1,141,000 reserved to retire prior bondsiu 1893 and 1895.-(V.46, p. 708; V. 47, p. 593, 596.) Cleveland & 1'.larietta.-Operated from Maiietta, O., to Canal Dover and branch, 99 miles, and 7 miles, Valley Junction to Canal Dover, leased. The road was roreclosed for the second time 1n May, 1886, and r eorganized, and $2,000,000 new stock issued. In year ending June 30, 1887, gross earnings were $300,617; net, $63,103 ; surplus over interest and rentals, $34,382. In 1887·8, gross. $326,215; net, $60,761. A. T. Wikoff, Pres't., Cambridge, Ohio. Cleveland & Pittsburo-.-(See Map Penn. RR.)-Cleveland, to Rochester, Pa., 124 miles;branches-Bayard, 0., to New Phila., 31 miles; Yellow Creek to Bellaire, 43 miles; leased, Rochester to Pittsburg (P. Ft. W. & 0.), 26 miles; total operated, 225 miles. The property was leased for 999 yearR from Dec. 1, 1871, to Penn. RR. Co., and lease tra.nsferred to Penn. Co. May 1, 1872. Rental, 7 per cent on existing capital (10 per cent on the old) and $10,000 per year for company expensesJ the lessees assuming all ll a bilities. The sinking funds in 1887 redeemea $180,000 consols of 1900 and $44,000 of aenes A and B construction and equipment bonds. For the year ending Yovember 30, 1887, the gross receipts were $3.330,998, and the d eficit to lessee after m akin.!l all pa.vments was $27,248, aga inst a deficit of $32,378 in 1886. (V. 48, p. 9 9. ) Cleveland st, Louis & Kansas Olty.-Projected from Alton Ill., with bridge over the Missouri, to K ansas City, 275 miles; and from Alton to St. Lmtls, 20 miles; completed from St. Charlea, Mo.. to Matsens, 24 miles, and under co n struction between S t. Charles and Alton, 20 miles, and from Ma tsens westerly 30 miles. T nis is the Central Missouri RR. sola in foreclosure and reorga nized. Trustee of first mortgag e is Cen t. Tr. Co., or bridge mortgage, Holla nd Trust Co. '£ he latter mortgage provides for t h e bridging of t!le Mississipp i at Al ton and the Missouri at St. Charles and A rrow R ock ; i t covers also terminal propert y i-t St. Louis and K a n s as City , for whlch and t he S t. Louis bridge $1,5u0,000 only is to b e used, the balance being reser ved for the other bridges, if required. Stock is $1,5 00,000; par $100. Colorado central-(See .Map of u,i ion Pacijtc)-Denver to Golden 16 miles; Golden to State line, 106 miles ; D ,.mver Junction to La Salle, 151 miles ; a ad narrow ga u ~e line from Golden to Georgetown, 35 miles, and Forks Creek to ventral City, 11 miles; leaoos line from Colorado Junction to Wyoming State line, 9 miles; total operated, 328 miles. It is owned by t he Union Pacifl.c, which holds $4,697,000 of above bonds. The m or t g a ge tru~tees are F.red. L. Ames and Jay Gould. Of the old 8 p er cents $87,000 a.re yet out. Stock, $6,230,300. Gross e arnings in 1837. $1,592.974; n et, $614,958; in• terest, $336,030; dlvidend (4 per cent), $249,212; surplus, $49,716. ---- ----- o., Colorado 1'.lidland.-(See dlapl-Owns from Colorado Springs to New Castle, Col., 233 miles; A.spen bra.nch, 19 miles; Jerome Park branch, 15 miles: total completed 1888, 267 miles. At Colorado Springs connection is made with Denver and Pueblo over the Denver & Santa: Fe road, which has just been. constructed in the interest of the Atchison Topeka & Banta Fe. The stock is $'3,000,000; par, $100. Beft ahstract of 1st mort, in V. 45. p. 54.0, and applica tion to Stock: Exchange infullinV. 48, p. 69. CentralTrustCompanyofNewYorkistrustee of the 1st mort., and F. -D . Tapp ~n of the 2d and 3d morts. Interest on 2d and 3d mortgages Is cumulative, but payment not obligatory till 1891 and 1893 respeotively. From Jan. 1 to Oct. 31 in 1888 (10 mos.), gross earnings were $1,104,418; net, $200,817. (V. 46, p. 289, 677' 1,442,458 738 ; v. 48, p. 69.) , I • = rLi ~ 0 ~ ~ ~ II 11 u 0 ~ rJ.2 ~ 0 ~ II 11 ?'JI o:Manti ~ MAP OF T HE ....., ~ :E ~ COLORADO MIDLAND RAILWAY A.' ~ E ~ ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis '(" ,~Cl AND ITS CONNECTIONS. ~ 0 Joy 0 ~ " "' INVEST0RS' SUPPLEMENT. [VOL. XLVffi. Subscriber• wtll eomer a grea, tavor by giving lmmedlaie nuttce ol any error J.laeoveI"ed In lhase .l'able• DESCRIPTION. For explanation of column headings, &c., see notes on first page of tables. Columbus Hocking Valley cf Toledo-Stock .•..•••... Consol. mort#?age, aold (fo'r $14,500,000) ..•.... c* Gen. M., g .. on roa & Hockin~ Coal & RR. Co ... c Col. & H. V. 1st M., (reg. $500,000 by Treas.).c* Col. & H. V. 2d mott-#?a#?e bondll ......•...••.••. c• Col. & Toledo, 1st M. (Columbus to Toledo) ..••. c• do 2dM. do do ....... Ohio & W. Va., 1st M ..•.••..•••..•...•....•....•. c• Columbus Springfield cf Oincinnati-lst mort . ... c OolumbuB cf Xenia-Stock { 825 p. c. r'l P. C. & St. L.; 1st mortgage .••.••••. c* Penn. RR. guar's lease. Oonrord-Stock .••.•.•..........••....••..••..•••.... OO'MOrd cf Olaremont-lst mortgage...•...••. . .... c Don.cord ti Ports.~tock, 7 p. c. ren'I. 99 yrs. Conc'd Oonn. cf Passum.-Stock, 5·6 p . c. ren'l, 99 yrs, B. & L. ~::i~1:1hi:; guai-: ·saitie·ciiv:aa· conn:·& i?aas: do bonds, ~uar. by Conn. & Pass ...•..... Newport & Richfor 1st M., guar. by C. & P .••.. Oonnecticut .River-Stoca: ..•..•...•...•..•••...•..... Connecting {Phila.J-lst mortgage, endorsed . . •.. c Oorninfc Oowanesque d! .Antrim-Debentures ...•. c" OOTJing on ti Macon-lat M., gold ($12,000 per m.)c Cumberland ti Pennsylvania-1st mort~age ........ 2d m., sinking fund, (guar.) e ,;tended m 1888 ..•. Cumberland Valley-Stock ($484,900 is preferred). 1st a.nd 2d mortgages ..•..•••.••..••..••..••..••. c* Southern Pennsylvania, 1st mort~age, ~old .... c* Danbury ti Nor.-Stook, 5 p. c. gu. 9 yre. Rous. RR. 1st and 2d mortgages (2d M. due July 1, 1892) .o* Consolidated mortgage ...••.••..•••.••..•••.••.. o* General mortgage ..•..••...••.••....••..••..••... o* Dayton Ft. Wayne&: Oh ,cago-Stock ($15,000,000) .. Bond,a-Princl INTEREST OR DIVIDENDS. Miles Date Size,ol.' When Due. Amount Rate per When Where P~a.ble ana by pal, of of P'\l Slock8-Last Road. Bonda Value. Outstanding Cent. Payable om. Dividend. ------·· ---325 $100 $11,696,~00 133s st'k 324 issi 327 1884 121 1867 121 1872 118 1875 118 1880 85 1880 45 1871 55 55 i860 14-1 71 i874 47 147 110 isfa 37 37 i870 22 1881 56 7 i864 78 1983 105 1885 38 1866 38 1868 125 52 24 i870 37 33 '70-;72 33 1880 36¼ 1883 250 - . --· .... --· 1,000 1,000 500&c. 1,000 1,000 1,000 1.000 1,000 50 1,000 50 . 500 &c. 100 100 100 &c. 100 1;000 1,000 100 1,000 1,000 1 ,000 1,000 1,000 50 500&c. ··50 100 &c. 1,000 100 .... Colum.bla & Greenville (S. C.)-(See .Jlap of .Rich. ti W. P. Term) -The company owns trow Oolumbia to Greenville, S. C., 143 m.; branches to Abbeville and Anderson, 21 m .; total 164m. Also owns Laurens RR., 31 miles; and leases Blue Ridge RR., 32 m., and Spartanburg Union & Col. RR., 69 m. Total operated, 296 miles. The Green ville & Col. roa<1 was sold in foreclosure April 15, 1880, and reorganization was ma.de under this name. Preferred stock, $1,000,000; common stock. $1,000.• 000; par of shares $lu0; due other companies Sept. 30, 1888, $399,350. All the torumon stock was pledged by the Richmond & W. P. TerminaJ Co., under its oullateral trust deed, and in May, '86, the road was leased to the Rich. & Danv. RR. Co. In year endin~ Sept. 30, 1887, gross earntngs on all lines we, e $ F>59,468; net, $102,264; intert:st and rentals $242,176; deficit. $139,912. In 1887·8, gross earnings, $620,073; net· $193,165; interest and rentals, $247,025 _; del. $53,860. tV. 46, p. 699.) Columbia & Port DeposU.-Owrui from Columbia., Pa., to Port Deposit.Md., and branch, 44 miles. Operated by Pennsvlva.nia RR. Co. as ap:ent, but arrangement may be terminated on tllree months' notice by either party. Rental, net earnings. Rental in 1887, $61,6!8; deficit under charges. $70, t 03; in 1886. rental, $Sl,107; deficit under charges, $47,782. Capital stock, $497,100, par $50; funded debt, $1,882i000, and floating debt (coupons) $1,00,1,290 ia. 1886. Ooltunbu• & Cl11clnnatl 1'.11.dland. - Line of road, Columbus O., to Cliuton Val., 0., 71 m. Openea in Nov., '8-1. Stock, $2.000,000. The company has a 50-years traffic agreement with the Baltimore & Ohio a.nCl Cin. W. & Balt. companies. Gross earnings in 1886, $320,259. net, $112,';95. 1n 1887, ~osa, $340,121: net, $123,666; def. under fiiK.ed charges, $11,334. Orland Smith, Pres., <Jincinnati, Ohio. Colum.bue Hockln~ Valley & Toledo.-Owns main lme from Toledo to Pomeroy, 256miles; branches-Logan to Athens, 26 Logan to New Straitsville, 13; Monday Creek Junct10n to Nelsonville, 17• others, 13; total, 325. This was a consolidation in .July, 1881, of the Columbus & Hock· Ing Valley, Columbus & Toledo, and Ohio & West Virginia. Of the consolidated mortgage $6,500,000 was reserved to meet the prior liens; the "Hockin~ Coal & RR." joined in makin"' these bonds. The Central Ttust Co. cfNewYork is trustee. The gene raY mortga~e of 18b4 covers the road, and is also a mortgage on the coal property of the "Roel.in~ Coal & RR. Co.," whose stock is owned ~Y tlle C. H. & T. The divisional bo nds originally had sinking funds. but upou iesue of consol. mort. of 1881 sinkmg fund payments werti discontinued. A combination was made in 1885 with the reorganized Ohio Central by which the company Wt"nt under one management, as per the circu• lar in V. 40, p. 597, and the C. & H. V. guarantees the interest on the r. & O. C. 1st mortgage bonds. In Sept., 188~, the suit oy this Company to recover $S,roo,OJO !or bonds a.llegt d to ha.ve been mtsappropriated by fo rmer dirt'ctors was decided against the compauy. ln the CHlWNICLE, v. 47, p. 530, was a report of earnings for year ending June 30, 1~88, wittl. full income account , showiug sma·1 surplud over cha rges Dividends 1-iuce l · !:!l have been: In 1883, 2¼ per cent; in 1885, 133s in stock; nothing since. Rangti of stook prices since 1884 bas been: in 1885, 18@43; in 1886, 267s'@45¼; in l e 87, 15@39!\i; in 1888, 171i>36¾; in 1889 to Jan.18, inclusive, 25@it63s . .Annual report for 1887 in V. 46, p. 35!; income for tour years was as follows: INCOME .ACCOUNT, 1884. .Receipts$ Gross earnings..... 1,842,473 Net earrungs. ••.•• •• 601,819 Miscellaneous •••..• Total receipts.. Disb1trsements- Int. on bds. & oar tr. Int. on tloat'g debt.. Int. to Pa.RR.on l'se Mlscellaneous ....•• Tot. disburse'ts. 601,819 1885. $ 1886. $ 1807. $ 2,311,003 977,::106 2,361,403 966,169 11,841 2,595,583 993,684 38,4.85 977,306 978,010 1,032,169 866,060 881,564 946,925 979,557 56,814 61,586 42,832 18,629 22,277 22,902 22,n81 24,048 .. .. 1,490 18,7:i0 94.5,151 97U,t>4~ 1,o;n,0~8 l,0~~.~;j4 Bala.nce............. def. 343,332 sur. 6,764 def. 53,0i8 sur. 9,935 -1V. 46, p. 74,102,351,677; V. 47, p. 50,200,353 410 530; V. 48, p. 100.) • Colum.bn11 Springfield & Clnclnnatl.-Owns fr '.'m Columbus, Ohio, to Springfield, Ohio, 44 miles. Lease to Indiana Bloomington & Western terrninateo March 10, 1888, and road has since beeu been operated by Cincinnati Sandusky & Cleveland. Capital ,tock, $1,000,· 000, par $50. Dividend of 5 per cent was paid Aug. 6, 1888, out o.r judg1Lent agaiust ln.1.iana. Bloomington & Western. (V. 47, p. 108.) Ooltnnbus & Xenla.-Owns from Columbus, Ohio, to Xenia, Ohio, 55 miles. Is operated as a division of the Little Miami, and is leased tor 99 rears from Dec., 1869, in connection road with that to the Pitts• burg Cmcinnati & ~t. Louis, which pays 8 per cent on stock and proTides for the bonds. '1-he lease is guaranteed by the Penusyl v-ania Railroad Company, whieh owns $365, LOO stook. The Colu.nbus & :Xenia pays 825 per cent dividend per annum; 21 6 per oent Maroh 10 and Sepe. 10 a.nd ~ per cent Juno 10 and Dec. 10. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8,000,000 1,378,000 1,401,000 777,000 2,500,000 600,000 1,584,000 1,000,000 1,786,200 302,000 1,500,000 500,000 350,000 2,500,000 1,500,000 400,000 400.000 350,0u0 2,58u,000 991.000 1,250,000 1,260,000 803,500 300,000 1,777,850 270,500 625,000 600,000 400,000 100,000 150,000 (1) 5 g. M:&·s. ; g. J. &D. A. & O. J. & J. 7 F. & A. 7 M.& S. M.&N. M.& S. 7 Q.-M. z M.& S. 7 M.&N. 5 .J. & J. 7 3lg J. & J. 2¼ F. &A. A. & O. 7 2¼ F. &A. ~ g. .J. & J. J. & J. Q.-.J. 2 M.& S. 6 1\1.&N. 6 6 g. M.& 8. M.& 8. 6 M.&N. 6 Q.-J. 2 ,A.. & o. 8 7 g. M.& S. 2lg F. &A J. & J. 7 J. & J. 6 A. & O. 5 ··,r .... ---· N. Y., Chase Nat. Bank. do do do do do do do do do do do do Bost.,3 Merchants' Row Columbus, 0., Treasurer N. Y.,Am. Exok. N.B'k Bost.&Manchester ,N.H. Bost., 'J.lreasurer's office Bost.&Manchester.N.H. Bost.Safe Dep.& Tr. Co. do do do do do do do do Bost.,B.&A..RR. ,Spring. PhHa., Penn. RR. Office. Phila. F. I. T. & 8. D. Co. N.Y., Green&Bateman. N.Y., Consol.uoal Office do do Phila. and Carlisle. Pa. Phila., T.A. Biddle& Co. PWl ,d elphia. Bridgeport, Hons. RR. do do do do do do . .... --· ·-· Aug.19,1885 Sept. 1, 1931 June 1, 1904 Oct. 1, 1897 Jan. 1, 1892 Aug., 1905 Sept., 1900 May 10, 1910 Sept. 1, 1901 Dec. 10, 1.SS8 Sept. 1, 1890 Nov. 1, 1888 Jan. 1, 1894 Jan., 181:!9 Feb. 1, 1889 April 1, 1893 Feb. 1, 1889 Jan. 1, 1890 Jan. 1, 1911 Jan. 1, 1889 1900-'1·'2·'3·'4. May 1, 1898 Sept. 1, 1915 March 1, 1891 May 1. 1891 Jan. 1, 1889 1904 & 1908 Mar. 1, 1900 Feb. 15, 1889 July 1, 1890-92 July 1, 1920 April 1, 1925 ··-·· ····--· Concord.-Owns from Concord, N. H., to Nashua, N. H., 35 miles ; Hookset Branch, 3 miles; total owned, 38 miles; leases-tJoncord & Portsmouth, 47 miles: Mancllester & North Weare, 19 miles; Suncook Valley, 17 miles; Nashua .\ oton & Boston, 20 miles; total operated, 141 miles. In Aug., 1888. two suits for sums amounting to $1,100,000 were instituted against this company by the Manchester & Lawrence and Manchester & Lowell companies. Dividends of 10 per cent annually have been paid for many years. Fiscal year ends March 31. Annual report, in V. 46, p. 6 77. INCOME ACCOUNT. 1884•85. 1885·86. 1886·87. 1887-88. Gross earnings .•••.••• $1,100,864 $1,07l,963 $1.16i.R47 $1,151.446 Net earnings ..••...... $106,379 $452,573 $479,475 $362,804. Disbursements- $112,532 Rentala. . • • . . . • • . • • • • . • $113,319 $113,005 $39,700 36.872 37.755 37.359 39,168 152,314 lmprovements, &o.... 104,091 178,074 132,910 150,000 150,000 Dividends, 10 per cent. l!'i0,000 150,000 Total disbursem'ts. $405,160 $451,718 $47~,438 $361,778 Surplus................ $1,214 $855 $1,037 $1,026 -IV.46,p. 617.) Concord & Claremont.-Owns from Co~cord to Claremont, N. H., 56 miles; branch, Contoocookville to Hillsborough, 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 the Boston & Ma ine began to oparate it under contract with Northern RR. (V. 45, p. 26). Concord & Portsrnonth.-Owns from Portsmouth, N. H., to Manche::1ter, N. H .. 40¼ miles, and branch to Snncook, 7 miles. The road was sold to ti.rat mortgage bondholders in 1857, a1:&:l leased to Concord RR. in 1862 for 99 yeara. Stock was increaRed from $350,000 to $500.000 in October, 1888. Lease rental is $25,000 a year, which gives 7 per cant a year to present stockholders. There is no debt. v. 47, p. 531. Connecticut & Passulllp11lc.-Owns from White River J11nction. Vt., to Canada Line, 110 .miles; leased, Massawippi Valley and branch (Canada), 37 .miles; total operated, 147 miles. The lease of Massawipp1 Kailroad is at 6 per cent on bonds and same dividends as are paid on the stock ol the lessee. From January 1, 1887, this road was leased to tbe Boston & Lowell for 99 yea.rs on a. b asis to pay C. & P. stock 5 per cent per annum for ten year~ and 6 per cent thereafter. In Oct., 1887, the B. & L., carrying this road, waq leased to Boston & Maine. Dividends since 1 ~80 have been: In 1881, 5 per cent; in 1882 and 1883, 6; in 1884, 5½!; in 1885 and since, 5. Connecticut Klver.-Owns from Sprinl?fleld. Mass., to South Ver• non, Vt., 50 miles; branches, 6 miles; total 513 miles; a.J ,.,o lease~ and owns sto k of Ashuelot RR., South Vernon, Vt., to K eene, N. H., 24 miles, t,ut keeps accounts separa.te. In year endin~ Sept. 30, 1887, gross earnings were $939,742; net income over r f' ntals and iuterest, $219,5lj9: iLi 1887•88. gross, $987.237; net $197,01~; total available r1:>ven 11e, $245 452. D ividends since 1876 h " v " t1een: From 1877 to 1885, 8 per c imt; in 1886, 10; in 1887 and 1888 , 8; in 18d9 to date, 2. -(V. 45, p . 572. 791; V. 46, p. 510; V. 47, p. b~5.) <Jonnec'&lng (Phlladelphia).-Own.s from Mantua .Junction to Frankford Junction, Pa.., 7 miles. A connecting link in Philadel• phia to the West and South. Leased to Phil. & Trenton for 999 years, and with that roa.d operated by Pennsylvania Railroad. Rental $139,· 993, which pays 6 per cent on $1,278,300 capital stock (Par $50) and interest on $991,000 funded tlebt. The bonds are issued in Reries AB CD and E. maturin~ respectively in 1900-'1, '2, '3 and '4. Penn. RR. owns $1,277,700 stock. Corning Cowanesque & Antrlm.-Owns from Corning, N. Y .• to Antrim, Pa., 53 miles; branch, Lawrenceville to HaITison Vallel.• Pa., 32; total operated, 85 miles. Consolidation (January, 187iS) of the Blossburg & Cornin~ RR. and the Wellsboro RR. June 1, 1874 tne Cowanesque Valley RR. was absorbed. These lines a.re leased to an;I 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 preferretl stock; dividends paid quarterly, March 31, &c. Stock-com., $1,500,000, and pref., $500,000; par $50. The coal line of Phila. & Reading and N. Y. Central is over the road of this company.: which jointly guarantee the bonds of the Pine Creek Raill'oaa Company. Earnings in 1885·86, $614,688: m,t, $202,208; rental paid C. C. & A. RR., $150,000; surplus to lessee, $52,208. Earnings in l!:!86-87, $651,367; net, $174,370; rental paid C. C. & A.., $150,u00; surplus to lessee, $24,376. George J. Magee, Prest., Watkins, N. Y. Covington & Macon.-Owns from Macon, Ga., to Athens, Ga.t 105 mile1:1. Honda are issued at the rate of $12,000 p er mile ann capital stock $1:l,00O per mile. Douglass Green, 78 Broadway, N. Y. City, is P1·es't.-(V. 46, p. 173.) Cumberland & Pennsylvanla.-Owns from Cumberland,Md,,1 to Piei.mont, Md., and several branclles, J5 miles. It it1 owned ana operated by Consolidation Coal Co., whtoll guarantees second mortgage. Cumberland Valley.-Owns from Harrisburg, Pa., to Potomao River, Md., 82 miles; lea.des-Martinsburg & Potomac RR., 12 miles; Dillsburg & Mechanicsburg RR.;8 miles; Southern Pennaylvania RR. 23 miles; controla Mont Alto RR., 18 mlles, buli accounts kept sep- Taxes on stock........ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis c... ] 0 ~·~~- \ ::P~ ".,,.,,a,.nt~P ~I II! .;r,yon:Mt.~ ~~Pl3ttsburg .rn-t .,_ 1,. • ~ , •• C!n"l,1t>✓ I ,~ · ~ ~1 0. !. .:, CJ) :0 ....... MAP OF THE DELAWARE, LACKAWANNA ~ WESTE~N R.R. .A.ND ITS CO~NEC'OONS. 48 INVESTORS' SUPPLEMENT. [VOL. XLVllL l!lubaerlben wUl eolder a great f'avor by giving lnunedlate notlee of' any error dl•eovered In the•e Table•• Bt>nda--Prinol• INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or Amount Rate per When Where Pvf:ble, and by p al,When Due. ,or explanation of column headings, &c., see notes of of Par Outstanding Stocks-Last Cent. Payable om. on first page of tables. Road. Bonds. Value Dividend. Da~ ti Mich.-Com. stock (319 %guar.C. H.&D.). 152 ferred stock, (8 percent. guar. C.H. & D.) ..•. 15'2 Consol. mort., ~ar. princ'l & int. by C. H. & D .. c 142 Toledo Depot d mortg~ .••....•. .••..••.....•. Dayton ti Union,-lstM.,s ingfund (not drawn). ·a2 Income mortgage bonds ..•..••. ..•...•...•..•••.••. 37 ~ton ti Western-lat M., guar. L. M. and C. & X . c ware-Stock-6 p. c. ~ar. tm '98, .t>. W. & B. 100 Mort,1age bonds, convertible, guar. P. W. & B .. c .. 85 31 Del. ti o-und Br.--Stock-8 % gu., Phlla. & Read .. 1st mortgage .•••..•...•..••...•...•....•....•.•.. c 27 1st mort. on Trenton Br., 2d mort. on main line.r 4 Delaware Lackawanna ti Western-Stock ..•.....•• 886 Consol. mort., on roads & equipm't, ($10,000,000) 288 Plain bonds (not mortgage) convertible . ..•.....•. Del. Maryland ti Va.-Juno. & B'kwater-lst mort. "44 44 Juno. & Breakwater, 2d mortgage .•••..•...•... o• Breakwater & Frankford, 1st mort., to State ...•. 19 35 Worcester Railroad, 1st mortgage .••...••.. . ..•. o" Den-oer ti Bio G?·ande-Stock ($45,500,000) ...•..••. 1,462 1,462 Pref. stock, 5 ~er ct.• non-oum. ($28,000,000) ..•. 1st mort., gol , sinking fund •.••..••....••...... c ~ Consol. mortgage, gold (for $42,000,000) .... c' &r 1.468 Improvement mortgage ($5,000 permile) g .. o·&r 1,468 Den-o.tl B.<Jr. West.-lst, g. ($16,000p.m.),cp.or reg. 370 Coup. certs. (see v. 41, p. 273) pa.) able ar, will ..•. Den-oer South Park ti Pac.-lst M. gold, sinking fd. i5o Consol. mort. 1,old ($17,000 per mile) ..•..••..••. Den-o. Tea:. de Ft. orth,-lst l\L ($20.000 p.m.)gold.o* 22·5 Den-oer Texas ti Gutf-lst M. ($20,000 p. m.) ..... c&r 138 Du Moines d& Ft. Dodge- lat mort., coup., guar ..... 88 1st mortgage, income, guaranteed by C. R. 1. & P. 88 56 Mort~age on extension, 1maranteed by C. R. I. & P. 0 --- --$50 is1i 1881 1864 1879 1879 1864 is15 1875 1879 is11 1872 1860 18711 1873 1876 .... $2,403,171 1,211,250 2,675,000 53,000 224,000 1:000 1,000 172,000 495,000 1,000 25 1,555,214 500&c. 640,500 .... 1,742,000 1,500,000 242,000 ··50 26,200,000 3,074,000 600,000 . 1:000 400,000 250,000 1:000 200,000 500&0. 400,000 100 38,000,000 100 23,650,000 500&c. 6,382,500 500&o 25,521,000 3,000,000 500 1,000 6,900,000 50. 1,000 ---· is1c 1886 1888 1881 1885 i,C)OO 1876 1,000 1880 1887 1.000 1887 l,OOD&c 1,000 1874 1,000 1874 1,000 1881 (1) 1,800,000 2,925,000 (1) 3,000,000 1,200,000 1,200,000 672,000 1% 2 5 7 7 6 6&7 3 6 2 7 6 ll\l. 7 7 4 4 4 4 ""ii.. A. & 0. Q.-J. J. & J. M.& 8. J. &D. J. &D. J. & J. J. &; J. J. & J. Q.-F. F. & A. M.&N. Q.-J. M. & 8. J. & D. J. & J. F. & A. J. & J. A. & O. .... ----- N. Y., Winslow, L. & Co Oct., 1888 do do Jan., 1889 do do Jan. 1, 1911 do do March 1, 1894. N.Y., A.m.Exch.Nat.Bk. Dec. 1, 1909 After 1910 N.Y., Bank of America. Jan. 1, 1905 Dover Co.'s Office. Jan., 1889 Phil., Fid. I. T.&.8.D. Co. July l, 1895 Phila., 240 So. Third St. N ov. 15, 1888 Phila.,Gua.r.T.& 8.D.Co. May, 1905 Philadelphia. May 1, 1899 N. Y., 26 Exchange Pl. Jan.21,1889 do do Sept. 1, 1907 do do June 1, 1892 Pblla•• 233 So.Fourth St 1890 do do 1899 do do 1898 do do 1896 Office, 47 Wm. St., N.Y. N. Y., 4th National .8k. g. J. & J. do do g. J. &D. do do g. M.& S. N. Y., 4th National Bk. M.& 8. 5 do do M.&N. N.Y., London& Frankf't 7 6 g. J. & J. N. Y.,Winslow, L. & Co. 5 g. M.&N. N. Y., Mercantile Tr.Co. ~ g. A. & 0 . N. Y. Co.'s Agency. J. & J. N.Y.,Chic. R.I.&Pac.Co do do 219 J. & J. 4 · J. & J do do 7 4 5 6 g. 0 M."& N. Nov:i2:·i888 Nov. 1, 1900 Jan. 1, 1936 June I. 1928 Sept. l, 1911 Sept. 1, 1895 May 1, 1905 Jan. 1, 1921 Nov. 1, 1937 April 1, 1937 Jan. 1, 1905 June 1, 1905 June 1. 1905 EARNINGS .A.ND EXPENSES. 1884. 1885. 1886. 1887. mon and $237,200 preierred is owned by Penn. RR. Co. Large advances$ $ $ $ have been made to branch roadi;. Gross rec'ts all sources . . 31,311,992 31,091,677 32,342,865 39,845,857 In 1886 gross earnings on the main line were $733,708; net, $ 185,~85; inl887 gross earnings, $774,476; net, $187,051; surplus over fl..xed Operating expenses ..•.. 23,003,147 23,220,572 24,954,483 30,694.000 Betterments, equip., &o.. 385,033 443,182 164,029 810,061 charges, $165,411; dividends (8 per cent), $142,228. Total expenses ..•...••• 23,393,180 23,663,754 25,118,4.62 31,504,061 Danbury &; Norwalk.-Owns from Danbury, Conn., to Wilson Polnt, South Norwalk, Conn., 2619 miles; branches to Ridgefield and Net rt:.eeipts...... .••...•. 7,918,812 7,427,923 7,224,-103 8,341,796 INCOME ACCOUNT. Bawleyville, together 10 miles; total operated, 3619 miles. In July, 1884. 188!'>. 1886. 1887. 1886, a lease of this road was made to the Houeatonio for 99 years, the lessee to pay interest and 5 per cent per annum on stock. Net receipts.··· -· · · -· • • ·- 7,918,813 7,427,923 7,224,403 8,341,796 Interest and rentals ..... 5,113,322 5,187,089 5,186,711 5,203,419 Da~on Port Wayne & Chlcago.-Road from Dayton,O.,to Ironton, 162 miles (the former Dayton & Ironton road); Dayton, o., to Del- Bala.nee, surplus......... 2,805,490 2,240,83<!. 2,037,692 3,138,377 phos, 96 miles; total, 258 miles, and projected 43 miles from the main Dividends................ 2,696,COO 1,965,000 1,834,000 1,834,000 8 719 7 7 line to Fort Wayne. This company was formed in June. 1887, by con- Rate of dividends ...•... solidation of the Da.yton & Ironton and the Dayton & Chicago. Stock Balance after dividends. 709,490 275,834 203,692 1,304,377 authorized, $15,000,000. It belonged to the Ives schemes. In March, GENERAL BAL.A.NOE AT CLOSE OF EACH FISCAL YE.All. 1888, R. D. Marshall was appointed receiver, and certificates for $369,.Assets1884. 1885. 1886. 1887. 668 issued. E. Zimmerman, President, Cincinnati. - (V. 46. p. 102, 320, RR .• buildings,equipm'nt, $ $ $ $ 371,448, 738.) coal lands, &o .......... 34,250,418 34,508,047 34,496,431 34,669,226 Stks and bds. own'd, cost. 5,449,i13 5,374,918 4,770,654 5,735,779 Dayton &; Mlchlgan.-Owns Dayton, 0., to Toledo, 0., 141 m., and leases Deshler to Findlay, 11 m. Leased May 1, 1863, in perpetuity to Net cash and our. acc'ts. *527,121 *357,562 *897,331 •t,037,985 941,372 1,221,171 1,246,976 tke Cin. Ham. & Dayton. Lease amended Jan. 23, 1870. The rental is Materials, fuel, &c .••••.• 1,049,712 the interest and sinking fund of debt, and 8 per cent on preferred stock Total. .•..••...•..••... 41,276,965 41,181,899 41,385,590 42,689,966 and 319 per cent on $2,128,600 common. Of the common stock only Liabitil'ies$2,128,600 is '{118,ranteed 312 by C. H. & D. Profit to lessee in 1883-84, Stock ......•.••••••..••... 26,200,000 26,200,000 26,200,000 26,200,000 $161,990; 1884-85, $196,387; 1885-6, $215,219; 1886-7, $276,562; in 1887-8, $363,933. Due lessees for aavances, March 31, '88, Fundea debt.............. 4,044,900 3,674,000 3,674,000 3,674,000 Surplus account .••...•... 11,032,065 11,307,899 11,511,590 12,815,966 $714,475. (V'. 47, p. 708.) Total liabilities ...•... 41,276,965 41,181,899 41,385,590 42,689,966 Dayton & lJB.lon.-Owns from Dodson, Oblo, to Union Cicy, Ind.' 82 miles; leases Dayton to Dodson, 15 miles; total operated, t!.7 miles: .. Net balance between liabilities and assets. The Greenville & Miami RR. was sold out Oct. 30, 1862, ind re-organ -(V. 46, p. 133,201, 2.53, 610; V. 47, p. 161, 594, 776.) ized as now Jan. 19, 1863. Operated by trustees since December 23' Dela-ware Maryland & Vlrglnla.-Road extends from Harring 1871. Ca:vita.l stock, $86,300; par, $50. In year ending Oct. 31, 1887' gross earnrnge, $174,493; ntt, $76,898; surplus over charget:1, $48,259. ton to Rehoboth, Del., 44 miles; Georgetown to Franklin City, Va., 04 miles ; total, 98 miles. In July, 1885, the company passed into control Dayton & Western.-Owns from Dayton, 0., to State Line, Ind., of the Phila. Wil. & Balt. RR. and became part. of the Penn. RR. 37 miles, and leases 4 miles to Richmon<l, Ind. Leased from Jan. 1, system. In year endinR Oot. 31, 1888, gross earnings were $197,107; 1865, for 99 years, renewal forever, to Little Miami, and carried with net, $25,668; deficit under interest, $24,332, against $58,853 in 1888-7. that road in the general lease to the P. C. & St. L. The lessees are Denver & Rio.Grande (3 feet.).-(See Map)-Owns from Denver virtual owners and are answerable for all obligations. Of above bonds City, Colorado, via Pueblo, Salida, Gunnison, Montrose and Grand $32,000 are 7s. Junction, to the western boundary of Colorado, where it connects Delaware.-Owns from Delaware Junction (P. W. & B.), Del., to with the Denver & Rio Grande Western, to Salt Lake City and Ogden, Delmar (Md. Line), 84 miles; branches, 16 miles; total operated. 100 making the distance from Denver to Ogden 771 miles, and from Pueblo miles. The Dorchester & Delaware and Queen Anne & K. rai.lroads to Ogden 651 miles. Branches run to Leadville, Dillon, Red Cillf, Crested now operated by P. W. & B. RR. The Delaware Railroad was opened Butte, Silver Cliff, Chaffee, Aspen,Ouray and Hot Springs; also from Pueb 1855-60, and is leased for 21 years from 1876 to the P. W. & B. lo to Silverton, via Cuchara, Alamosa and Durango, with branches to El Co. ; rental 30 per cent of gross earnings, but stock must have 6 per Moro, ERpanola, Del Norte and Wagon Wheel Gap; total Jan., 1888 cent. In year ending Oct. 31, 1888, gross earnings were $918,470; net, 1,462 miles. Small branches since completed. The standard gauge and $275,541; interest and dividends, $131,637; surplus, $143,90!. In 1886- road with third rail exceeds 500 miles. 87, gross, $736,055; net, 30 per cent gross earnings, $220,817; inte1e~t The former D. & R. G. Railway was foreclosed under the old consoliand dividends, $131,550; surplus, $89,267. One-half of each year's dated mortgage, July 12, 1806, and sold for $15,000,000. ReorRanizasurplus goes to lessee as per lease. tion was mad~ under the title of Denyer & Rio Grande Railroad Co. Of the $42,000,UOO consol. gold bds. (U 8. Tr. Co., trustee) authorized, Dela-ware & Bound Brook.-Owns from Bound Brook (Cent. of New Jersey) to Delaware River, 27 miles; branch, main line to $6,382,500 were reserved to retire the old.bonds when due and $6,900, 000 retained for acquiring the Denver & Rlo Grande Western or to Trenton, 4 miles; total operated, 31 miles. In connection with Central of New Jerse:r. and North Pennsylvania forms a line between New extend the Denver & Rio Grande to Ogden. Of the $45,500,000 common stock, $7,500,000 to be held to acquire the Denver & Rio Grande York and Philadel~hia. In May, 1879, the property was leased for 990 years to the Philadelphia & Reading Railroad Company-the lessee Westero, or to build the line to Ogden, and $4,350000 of pref. stock reserved for the same purpose. The preferred stockbolders have the right paying interest and 8 per cent on stock after May, 1883. Gross earnings till 1891 to elect two-thirds of the directors, unlet1s dividends are paid In 1887, $764,566; net, $407,159; surplus to lessee, $149,279. out of net earnings for two full years on the preferrE-'1 stock, after whicl Delaware Lackawanna & W estern.-(SeeMap).-This company the directors shall be chosen by all the stockholders. See abstract of operates under lease ~n extended system of roads in New York, Penn- consolidated mort. in CHRONICLE, V. 47, p. 228. In June, 1888, the improvement mortgage for $5,0 oo per mile was aylvania, and New Jersey. Owns from Delaware River (N. J. line) to New York State line. 115 miles; branches-3cranton to Northumberland, issued for laying third rail and other improvements; trustee, U. S. 80 miles; Greenville to Winton, Pa., 8 miles; to StoITs, 3 miles; Junction Trll8t Co. (See mortgage abstract in CHRONICLE, V. 4 7, p. 229.) to Keyser Valley, Pa., 5 miles; leased lines in New York-N. Y. Lack. & Dividends on pref stock have been: In 1887, 219 pet" cent; in 1888, Western RR., 214 miles; Cayuga. & Susquehanna RR., 34 miles; 219 per cent in ca.sh and 114 in scrip, subsequently redeemed in cash. Greene RR. 8 miles; Oswego & Syracuse Railroad, 35 miles; Utica The range of stock prices since reorganization ha.a been: Common In Chenango & Susquehanna Valley RR., 97 miles; Valley RR., 12 miles; 1886, 1484@35:\ (assessm't paid); in 1887, 2012@32lli; in 1888, 15@23; controlled and operated-Syracuse Binghamton & New York, 81 miles; in 1889 to Jan. 18, inclusive, 17¼@17½!. Preferred in 1886, 53:\@637e; leased lines in New Jersey-chester RR., lOmiles; MoITis & Essex, 118 in 1887, 52 7e@683s; jn 1888, 4314@55:\; in 1889, to Jan. 18,inol.,44@45. miles; N ewa.rk & Bloomfield, 4 miles; W arre11. RR., 18 miles; Sussex, 30 Report for 1887 in CHRONICLE v. 46, pp. 572 and 574. miles; Passaic & Del., 14; total operated, 886 miles. From Jan. 1 to Oct. 30, 1888 (10 months), gross earnings were $6,386,The Delaware Lackawanna & Weste1n formerly- paid 10 per cent on its 466, a~inst$6.518,857in 1887; net,$2,113,423, against $2,703,395. Earnings, expenses, &o., for four years were as follows: stock, but in the dull times 1876 to 1880 no dividends were paid; in 1880 3 per cent was paid; in 1881. 684; in 1882, 1883, and 1884, 8 ; in 1884. 1885. 1886. 1887, 1885, 784; from 1886 to 1888 inclusive, 7; in 1889, to date, 184. Miles operated Dec. 31 ... 1,317 1,317 1,317 1,462 Prices of stock yearly since 1870 have been: 1871, 102'@11119; 1872, $ $ $ $ 91@11219; 1873. 7912Wl06; 1874, 99@11238; 1875, 10619'@123; 1876, Total g~oss earnings ..••. 5,55i,103 6,119,054 6,?38,077 7,983,418 64½'@12038; 1877, 30 7a'@77; 1878, 41 '@61 7a; 1879, 43iv94; 1880, 6812 Operating exp.en.sea ••.••• 3,758,530 3,935,273 4/~27,4i.7 4,742,048 @11014; 1881, 107@131; 1882, 11614@15014; 1883, 11112@13112; 1884, ·-.... 86lli@l331s; in 18b5, 82l>a'@l29:5s; i.Ii1886, 115-a>144; in 18i:n•. 12s1sw Net ell.rnings.·••• -. : .~ ::• . .. 1;793,5!73 - 2-,1'83t781 2,510,66(:) 3,241,370 34,401 67,227 46,'740 " --41,897_ 139½; in 1888, 12319a>l45 1a; in 1889 to Jan.18,inolusive, 13912?:14458. Other receipts .•••••••.... Toal income ••••••••.. 1,827,974 2,251,007 2,557,405 3,283,637 The report for 18~7 was in VHRONICLE v. 46, p. 253. amte; total contr.>lled and operated, 143 miles. Owns or leases sev· era.I factory roads, in all about 43 miles. Of the stock, $975,800 com· https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ----- ------- - - - - ----- ----- ----- ---------------- JANUARY, RAILROAD STOCKS A.NP .BONDS. 1889.J 49 PACIF I C MAP OF THE Manzanas 0 DENVER & RIO GRANDE RA I LROAD https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ----- o Ante1ope Springs O)o ~le.stera \ ) Tri>l c71era 8alt La7<;e L a(ln ,,e los Poau,t ~ (? https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DENVER & RIO GRANDE WESTERN MESA LAVACA 0 N JANUARY, Al RAILROAD STOOKS AND BONDS. 1889.] Sub•crlber• -will conf'er a ~reat Cavor by crlvlng Immediate notice or any error discovered In these Table■• INTEREST OR. DIVIDENDS. 1.t1u,,..u-•.t'rw.m- - - - - - - - - - - - - - - - - - - - - 1 Miles Date Size, or Amount - - - - - - - - - - - - - - - - -.pal, When Due. For explanation of column headings, &c., see notes of of Par Outstandin" Rate per Wnen Where Payable, and by Sto~~-Las; on first page of tables. Road. Bon,la Value. "" Cent. Payable Whom. D1v1dend. DESCRIPTION. ---------------------,-·- - --- - - - - - - - - - - - - - --------- -----Detroit Bay Ottycf:Alp.-lst mort., gold .••.....•• ,c* Detroit Grand Haven cf: Mil-1st, e<J.uin. m., ~uar ... c* 218 189 Consol. mort., guar. by Gnmd Trunk of Can ..... c* 189 Det. Hillsdale cf: S. w.-Stock, 4 % rental, L .S.& M. 8. 65 Delroit Lansing ti North.-Btock. common ...... . .•. 321 Preferred stock, (Aug.,'88 , dividend was passed!. a21 Consol. mortgage (ls li mo1·t. on 163 miles) ...... c* 222 Ionia & Lansing, 1st M. L<.1.nsing to Greenville.c* 59 43 Saginaw & West. 1st M., enctor~ed, gold ......•. c~ l&t i\1., Gr. R.L. -;; D.,lst. $20,000 p.m., gua.r... c * 53 Dubuque cf Sioux Oity-St ook ..•......•••..•...•••.. 143 let mortgage, 2d di vision., •• . - .. . .•...•.....•...•. 43 Iowa Fa'ls '-& Siou x: (Jity, 1st M. Ia.F. to S.City . .. 1134 Duluth d Iron. R a nge-1st mortga ge . .....•. . ... c&r 118 Dul. Red Wing <I; So.-ls t M., g . . $20,000 p .m .. c*&r Dul. So. Shore <t .dtl.-Stock, $10,000,100 is pref. .. lsi mortg,i,ge, irold ($1 ~.001J per mile) .•••.••.. c&r . 1st con. M. ~old , $20,000 p. m ..•..•••.•••.••• c~&r Dunkirk Aliegh. Val. <1; Piltsourn-lst mort., gold.c 90 2d and 3d mortgages ($200,000 only are 3d m) •. c 90 Ea.t .Broad. Top.-lst mort age . •...........••...• r 30 Easi Pennsylvania-Stock, %gu. 999 yr.3.,Phil.& R 36 New 1st mortgage ......•. . .......•....•.•.....••. c* 36 Bait TenneBsee Vi 1·gini,a cf Georgia-Common stock. 1,083 1st preferred stock (5 per ct. non cum.) ..•• . ...••. 1,083 2d preferred stot k (5 per ct. non cum.) ..•...•..... 1,08:'l Consol. mort.• gold (for $20,000,000) ...•••.... c&r Con.s. M.,'"Divis'l" ~-( Bristol.Teun.•to Selma.,Ala)c* Old 1st m.s.f. (Bristol,Tenn."Via Cbat.toD<iJ.ton,GaJ 242 lat ext. M .. g. ($20,0 0 p. m.) for $15.000.000.c&r 50 Jm_pr. and equip. mort. for $6,000,000, gold ... c&r 1883 1878 1878 . --· ---· is11 1869 1883 1887 is64 1869 1887 1 ~88 ·--· ..... ... i~87 ·--· 1888 1870 3 552 .... isss .... .... iss6 :i880 1870 1887 1S88 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1884. $ ········ 1 ----- 1886. $ 1:000 1,000 1,000 1,000 1.000 $2,!'i00,000 2,000,000 3,200,000 1,350,000 1,825,600 2,510,000 2,672,000 770.000 566,000 l,l08,000 8,000,000 586,000 2,800,000 4,264,000 (1) 22,000,000 4,000,000 11) 2,000,000 1,200,000 500,000 1,714,950 495,000 27,500,000 11,000,000 18,500,000 12,770,00 J 3.106,000 3,123.000 1,000,000 2,500,000 6 g. .J. & J . N. Y., Fa.rm. L.& Tr. Co A. &O. NYA.tCan .Bk.C,•m&Lo 6 A. &O. do o 6 .J. & J. N. Y., Fa.rm. L. & Tr. Co 2 Boston. F. &A. 3 319 F. &A. Boston, 26 6£\ars Bldg. J. & J. Boston, 2d Nat. Ba.nK. 7 ,J. & J. do do 8 6 g. J. & .J. do do M. &8. 5 N.Y.,Office,216 B'dway. 1il J .. & ..J. do do 7 A. & 0 . N.Y., Park BJr. B'ldin ~. 7 A.. & 0. N. Y •• Office. Mills Bld g. 5 5 g. J. & .J. New York City. ..5.g. .J. .& ..J N. Y .. Bank . 5 g. .J. & D. New York City. 7 g. J. & D. N.Y., N.Y.Cent. &Hud. A. & O . do do 7 4 J. & J. Philadelp'a, Co.'s Office. g Phila., P. & R. RR. J. & J. do do 4 g. M. & 8. Cbase·Nat. 5 ··5·e;. . ... . .... ---· M. &N 5 g . .J. & J. & 7 5 e;. .J. & 5 g. M. & Office, 10 Wa.U Street. .N. Y., Chase Nat . Bank. do do do do D. do do 8. do do J. J. .Jan. 1, 1913 N ,iv. l4, 1918 Nov. 15, 191S .Jan 5, 1889 F ol>. 15, 1887 F eb. 15, 1888 Ja.n. 1, 190;7 .July 1, 1889 .J11l.y 1, 1913 Sept. 1, 1927 Jan. 22, 1839 .July, 1894 O J . 1, 1917 O vt , 1, 1937 .Jan. 1, 1928 .Ja.n~·i'...i937 June l, 1938 Juno 1, 1900 Oct. 1, 1900 July 1, 1903 ,Ja.b., 1889. Ma,r. 1, 1958 De·o:io;isss 19! Nov:·i;,..i95JJ July .July .June S ept. 1, 1, 19 1, 193! l, 1~8 1887. dividend of 4. per cent was paid .Jan. 3, 1888, at the offloo of H.B. Hollins & Co.,N.Y~ Froi;n Jan. 1 to Nov. 30 (11 mos.> in188.'i gr.>ss earns.w:.ere $ 1,405,775 $!28,115, agiiinst $435,666 in 1'387; net,j$156,ti52, agaiu.it $19:1,222. 572,364 18o7 gr~se 4::arnings w ere $~S9,270; net, $205,43?; sut·plus ov~~~bat ~e~ 225;2·is *520,928 307:542 $'36,860, div1dend3 (4 ¼) $66,800.-(V. 45, p. 85, V.4.t>, p. 74, ,o, UJ~.) DetroU Grand Haven & 1'.lllwaukee.-Owns from Detrou. Total dlsbursements.. •••..••• 572,364 1,198,625 1,713,317 Mich., to Grand Haven, Mien.. 189 miles. This is a reorganization. ot Bala.nee, surplus... ..•...•. 1,678,643 1,358,775 1,570,052 the Detroit & Milwaukee which was sold in foreclosure Sept., 187.fl. ~ u l y 12 to Dec. 31 only in 1 8 86. The bonds were guaranteed by the Great Western of Canada. BtQQl[ Ont of the surpluR for 1887 was paid $1,182,500 for dividends and $1,i'iOO,OOO; par $50. From Jan. 1 to Nov. 30, 1 ~88 (ll moq, gross, $2a0,524 for bettnments, leavint? a surplus for the year of $1 37,028. e 1,m's were £210,356, against £227,031 in 1887; n et. £5 l .4-LO, against -(V, 46, p. 2 'l 8, 2 54,448, 510, 572,574,677,738,819; V. 47, p. 228, £59,971. Gross earnings in 1886, $l,2U,033; n et, $372,773. ln 1887t <:381, 4.42, 801. > gr0!.11:'I, $1,194,30Q: net, $323,771; surplus over fixed cha1·ges, $74. Detroit Hlll ■ dale & Southwe•tern.-Owns trom Ypsilan!ifi Denver & Kio Grande Western (narrow- gauge).-( See Jfap.J -The mortgage covered lines in Utah Ter., about '469 miles in aJ}, of Mich., to Bankers, Mich., 65 miles. The Det. H . & Ind. road was so19 which there ha ve been completed-Colorado State Line to Ogden, Ut., 311 in foreclosure Dec. 28, 1874, and this company organized by the bon~ m.; Bingham .Junction to Alta, 18 m.; Bin~ham .Junct:ion to Bingham, holders. In Aug., 1881, le~ed in perpetuity to the Lake Shore & Mich, 16 miles; P. V. Ju,nction to coal mines 19 miles; other branch,· s, 9 Southern Co.; the rental is $54,000 per year - 4 p. ct. Detroit Lansing & Northern.-Owns from Grand Trun1F miles-total, 37:'l miles. The stock issued on 469 miles is $7,500,000. About $1,000,000 bonds were issued on road only pa,rt,lally completed. June., Micll., to Howard City, Mich., 157 miles; branches--8tanton .Jun~ to Big Rapids, Mich., 63 miles; B elding Branch, 112 miles; total own~; Bondllolders have generally accepted the proposal of August. 1885, viz., that the coupons from Sept. 1, 1886, to March 1, 1889, inclusive, 222 miles. Leases: Granrt Trunk June. to Detroit, 3 miles; Lansing to No. Lansing, 1 mile: Sa.gmaw & West. RR.-A.lrna to liiJward City~· ehall be paid one-half in cash, full interest being resumed with Sept., 1889. Scrip bearing 5 per cent is given for these coupons. or this scrip 43 miles; Gr. Rap. L. & D et . RR.-Grand Ra.pida to G1·a nd L ~dge, 53; miles; total operated. 321 miles. The Detroit Lansin_g & Lake Mich. $105 is paid by current p ayment of coupons and $195 matures Sept. l, 1895, but it may be redeemed at Co's o ption by payment in full, and no was foreclosed in 1876 and this company for med. D ividenfli since 187f> have been: On common stock in 1 880, 6; in 1883, 6; in 1 ~84, 6; in 1887, dividend on ~tockcan be J aid til l itisredeemed. Tbe !till interest on bonds ts $414,000, but under the plan it will b e $203,925 in 181:18, $428,283 a; in 188 ,. nil. On prefe1Ted st-0ck la 1879, ~111 p er ~ent : from 1880 to 18 94, inc., 7 p er cent; in 1885, 512; in 1886, 812; in 1887, 7; i o 1888, 319. fn 1889, and after warllS $'114,000 on thfl bonds, and 5 per c ent on the In 18137 g ross +' arni.ng ➔ were $l,147,159; n e t. ,t;45l,OL5; i111i<'rest,$ ~73,· funding certittca t t>s awounting to $67,'Z 75, maldng the tohl mterest 696: dividends (7 per cent on pre r.), $175,700; surplus, $1,649. (V. 4.6, char ge per year $4~1,275, as tbe prmcipal of certtilcates w ll1 be $1,p.171, 770; v. 47, p. 21.) 345,500, if all are then outstanding. Dnbuque & Sioux City-Owns from D n buque, Iowa, to Iow~ From Jan. 1 t o Nuv. 30, 1888 111' mos .) gross earnings were $1,24.-5,736, against $1,079,384 in 1887; net, $353,234, against $320,186. The Falls, 143 miles; I O\Va Falls to Sioux City , 184 miles; Mancbester to Cedar Rapids, 42 miles; Onawa, Ia., to Sioux Fa.HR, Da.k. 155 miles; annual report for lt!87 was in V. 4.6, p. 53 6. · In the y~ar 18:37 groi,s ea rnings were ,1,181,324; net ~$341,!'.187; sur- total 524 miles; and Leases Cedar ~'alls & Minne,m ta, 'i 6 miles Th&. present company was formed in 1888 by com.olidation or old company. plus over mterest, $74,2t7. (V. 46, p. 254, 4.13, 536, 171, 801.) with Iowa Falls and Sionx City. In April, 87, a controllin({ inteL·est iii. Denve:r South Park & Pacific (S fi.)-(See Map of Union the stock was sold to Ill. Cent. Since Oct. 1, '87, thi-. road, previously. Pacijlc).-Denver, Col., to Baldwin Mines 219 miles; Ga.ros to London leasect by Ill. Cent. has been operated by itR own officers, and earn'a not Junction, l6 miles; Como to Leadville, 63 miles; Bear Creek .Junction included in those of tlle Ill. Cent. A suit to anuul the Cedar Falle ~ to Morrison, tu miles; other branches, 17 miles; total, 325 miles. Stock Minn. RR. lease is p ending. owned by Union Pacific is $6,135,100 out of $0,235,400, and consol. In Oct., 1888, the s tock was increfl sed from $5,000,0!10 to $~,00o .. ooo. -mort. bonds $2,797,000. The U. P. operates the road, but has made no in order t-0 absorb the Iowa Fal!s & Sioux City, Ued. Ra 1. & Chic and gu.ar11,ntyofthe stock or bonds; on Nov. l, '88, the interest was defaulted, ChPr. & Dl),k. RRs. See V. 47, p. 440. (V. 4.5,p. '172, 7 68; V. 4.6, p. 38, ann a committee of bondholders appoint ed. E'oreclo ure suit was uegun 448; V. 47, p. 440.) on the coneol. mort-. Fro10 Jan. 1 to Nov. 30, '88, (11 mos.), gross earns. Duluth & .lroa Kange.-Owns Duluth to Ely, Mlnn., 118 miles. were $99-i,65~, a gainst $1,1\:12,467 in 1887; deficit, $1:!0,69fi, against Sold to a syndicate in 18~7, and above mortgage wa.R authorized at the snrplue or $106,51:-2. In 1886 deficit under interest, &c., $347,864. In rate of $25,000 p er m ile for construction and $7,000 for equipment, 188 7 gross earnings, $1,282,682; net $19,563; detteit llllder interest, the Metrop!'litan Tru-:t Co. of N. Y. being truF-too. There ar<1 also $3,.: &o., $289,430. (V. 45, p. ~5; V. 47, p. 531, 563, 594. V. 48, p. 67.) 500.000 of income certificates and the stock is $5· l0,000. There is a land Denver Texas & Fort Worth.-(See Map of Ft. W. <I: Den. 0.)- gl'a.nt from Minnesota of about =--06,000 acres. Th~ Minnesota Iron Co. 0perates "Pan Handle" route from Denver, Col., to Fort ,vorth, Tex., owns the stock, the income certiticates and $400,tlOO honcls. From Jan. 802 mUes, with brar:cbes 57 miles. opened !or business in March, 1888. l to I-lov. 30, 1888 (11 mos.) gross earnings were $ 633,015; net, $245.Company owns from Trinidao, Col., to T exas State line, 125 m ., usel'! 857; surp. over charges, $ "!0,~5\1. In 1887 .e;ro-s earmn~s were $390,· third rail over the Denver & Rio urande lrom Pueblo to Trinidad, 100 145; net, $305,951. H. R Bishop, 15 Broad St1·eet, N. Y., Presid~nt. · m. (and branches b7 m.), a,na '10ntrols the Den. Tex. & Gulr, Denver, -(V. 45, p. 472; V. 46, p. 218. 255,371; V. 48, p. 70.) Col., to Pueblo, 126 m.,w1th branches l3 m.,and tl1e Fort Worth & DenDuluth Red Wing & Southern.-Projected from Duluth via. ver City, Texas State lme to 1''ort Worth. Texas, 450 m B .v an exchange Red Wing Miun., and .::Sioux Cit y, Iowa, to a point opposite Omaha, of stock in 1888 control was obtained of all the $8,985,000 stock of the Neb. Under con struction from Red Wing southerl ·J. T ,·ustt!e of mort. Fort W. & Den. City, except a.bout 5,000 shares, and the entire issue, gage 1s Central Trust Co. President of Company, F. W. Hoyt~ $3,260.000, of Den. Tex. & Gulf stock. Duluth South Shore & A.Uantlc-(Su JlapJ. -Dulutf\ to Sa.nlt The company's own out&Standing stock is $!8,000.000 (par $100) and Ste. Marie, 403 n11les (o! which 4.3 mties !rom Dul•1th to Iron River 18, a large majority of it is deposited in trust with the Mercantile Tr. Co. to used in common with Northern F'acific, and 46 miles from Nestorla to be voted ou a.s a committee or nine stockholders shall direci. The Trust Marquette is leased in perpetulty from Marquetfe Rough t.on & OntonaCo.'s certificates, entitling the holder to dividends, are issued in its gon Railway); Boo .Junction to St. Ignact:\, 43 mtles. unl M. H. & On. stead and listed on the Exchange. Of the 1st mortg. bonds $1,000,000 lint's not includt1d in abOVt,, 114 mile:i; total, 566 U1!J.eq. A.t dault Ste. were issued to provide for construction and equipment on the D. & ~- G. Marie connecti,,n is made by bridge with the Caua.di.a.n Panittc, and· third-rail lme Trinidad to Pneblo; $200,000 for wrminals in Pneblo and with the Grand Trunk when it reaches the Sa.ult. Thie company purTrinidad, and balance at $:.?0.000 per mile on new r,1a.-i. Tru..te~ of cnased at judicial sale Oct. 20, 1886, the D etroit Mai,kinac &Marquette mort. Mere. Tr Co. Sidney Dillon, President, No. 1 Broadway, N. Y.- Railroad and property. Owns substantially all ti.La pr~r. and common -(V. 46, p. 413, 5 73, 707; V. 47, p. 256, 285, 802; V. 48, p. 37, 67, 70.) stocks of the Mlil'quette Ho ughton & Onton. RI{., ltiO mi11~i,, which U; Denver Texas & t.ulf.-(See Map of Ft. W. d': Den. 0.)-Denver to leases in peroetuity. S r e abstract of 1lrst mort-21:1ge, V. 45 . p. 274. Pueblo, 126 miles. On 1\lar. 18, 1886, the Denver & New Orleans road In July, 1888, a, controllini.t inte rest in .. the D. ~- S. & .\, stock was was sold an<l this company organized. Extensive terminiµ grounds in sold to Can. Pa J. pa.rties. (See V.47, p. 50.) Prt-f . s t,w k id tH. o .• non-cum. Den'f'er and coa.l land<:! a t Francevilltt are covered by the tlrst mortgage. The consol. m ort. (tr u.stt e Ceut. Tr. Co.) w as iss ued in 1883 to provide Bondi! are $ .!O,OvO per mile and $210,000 for terminals, &c. Trust~e ot for extensions, e11uipment. etn , $1.000,000 hein,g- r e-.erv ,,d for ht- mort. mortgage is Mercant.ile Tr. Co. {V. 46, p. 413; V. 47, p. 256, 802.) In 1887 gross ea rnings on 30 7 miles were $1,465, 689; n et, $569,066; De• lffolne• & Fort Dodge.-0wns from Vas Momes to Fort eUL-plus over M. H . & 0. intereRt a nd dividen }, $1 q ,18 -J. Dodge, Ia.., 87 miles,with an extension 56 miles to Ruthven, con necting -(V. 46 p. 7 4,320, 35J, 537; V. 47, p. 50,2 18, 703.) Dunkirk Allegheny Valley & Pltt8bnro.r. -Owns from Dun• 'With Chic. l'ffil. & St. Paul. Common st-0ck, $4,283,100; pref. $763,500 . Leased fr om Jan. 1, U!87, to the Chicago &ock lsland & Pacific, for kirk, N. Y., to Titu:w.1.llt1, Pa., 91 nnlee. A oonsolida.tion of the Dunkirk 19 years at a rental or 30 p e.r cent of the gross earning<:!, with a guaran- Warren & Pittsburg and Warren & Venango in 18 72. Leased for 400 tee of 4 per 1:ent interebt on the 1st mortg. and extension bonds, and years from 1873 to N. Y. Cent. & Hud. Ri v er Co., b ut a ccou nt s a.re kepi 2¼ p . c. p er annum on the incomes, and road was delivered .June 2, '8 7. separat e. R e uta l is intereRt on bonds. Capital, .S L.3 10,000; par $100. In h :87 rental was $104.~8 0. There is usually an annual deficit below tile inter e.~t chal'ge, hut the Detroit Bay Olty & A.lpena.-Owns :trom Alger, on Mich. Cent. N. Y Cent & Hud. Riv. Co. holds $2,324,600 of the secmi ~ies. In year RR., to Alpena, lUo 1mles; Loon Lalce Branch, 24 m.; Mud Lak~ ending Sept. 30, 1887, gross earnings wet·e $2 , 7,567; d eficit under Branch. 20 m.; other brauches 6l:l miles; total road ~18 ruiles. Has a operntinl? expenses, $7/, 90. In 1887-88 ~ross, $20!, .;~4: n ~t. $ '3,103. natlic contra.ct from Mich. Central. Au extension to Sheboygan ie proEast Broad Top (Pa.)-Owns from Mount Un1on, Pa., to Robertsposed. Stock authorized is $2,000,000, issued $1,670,000; par, $100. A dale, Pa., 30 miles, and leases branch to Stair Mlne, 7 miles; total, 37 Dt•bursemenu- Interest on debt . .•.•. Ren'lofD.R.G.W. RR. Taxes and miscell.a,n's 1885. $ 1872 1873 $l,000 1,000 200 &c. 100 100 100 500 &c. 1,000 1,000 1,000 100 500 &c. 500 &c. 1,01.1,>&c 1,0 0 100 1,000 1,000 1,000 1,000 1,00.0 50 1,000 100 100 l ~:~:?~.: ---- rn :MAP OP THE 1 ~ . ?' J.. Tt;...; Q"I'< DENVER, TEXAS & FORT WORTH~~ . lLULROAD SYSTEM. CoMPRT :U ~ U T ll E -- lL ENVER, TEXAS Sc CULF, DENVER, TEXAS & FORT WORTH, FORT WORTH & DENVER CITY, 1a Y1J'.} a11._ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis \ DULUTH, SOUTH SHORE https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis <) 0 0 ll~VESTORS' SUPPLEMENT-. [VOL. XLVIII, Sn-bserlbers -will conter a great f'avor by gtVlng lmmecllate notice of any error cllscovered In ihese Tables. I DESCRIPTION. INTEREST OR DIVIDENDS. Boncts-Prmo.1 ---------------------1 Miles Date Size or Amount pal, When Due. For explanation of column headings, &c., see not6 of of Par Outstanding Rate par When Where Payable, and by Stocks-Last on :first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. East Tenn. Va.ti Ga.-( Cont )-Ala. Cent.,lst, gd.,op. Knoxville & Ohio, 1st mort., gold .••............. c* East ti Wut ..tlla. -1st co:as. M., gd ($1n,OOO p. m.). c• Eastern (Mass.J-Stock............................... Preferred stock, 6 per cent, not cumulative....... Essex RR.1st mort. (extend. for 5 years in '8ti) .. c Certs. of indebt. 1st m. s f.$100,000 y'ly, not drn.c Debenture bonds (for $900,000), for refunding .. c East.ern (N.H.J-St'k.419p.c.ren'ltill l938.E.Mass. Eel Ri1'er-Stock, 2 /to 3 p. c.), gu.ar. by Wab. West. Elizabeth. Lex. <!:Big Sandy-1st m.,g.,s. f., not dr.. c Elmira Cortland d: Northern-lat pref. M., 1!.'0lfl.c~ let mort., gold, interest 5 per cent after 1889.... -95 - -1879 - Elmiru, ti Lalce Ontario-Stock.... . . • • • • • . . • •• . • • . Sodus Ba~' & Southern 1st mortgage, gold .••.. c Elmira ti Wiltiamsport-St'k, com., 5 p . c. ren'l, N. C. Preferred stock, 7 p . o. reJ1tal, 999 yrs., No. Cent. let mortgage bond l!I •••••••••••••••••••••••••••••• • 1· Income bonds, 999 years to run . . • . . . . • . . . . . • . . . . . Erie cl Pitts.-Stook. 7 p. c. ren'l, 999 yrs., Penn. Co. 2dmort., convertible .••...•...••..••••..••....••. c* Equivment bonds .•••..•......•....•..•........•. c* Consol. mort. free of State tax (for $4,500,000).c* Bttife7;,a, Springs-1st M., gold . .••.••.....•....•..•. o* 2d M. income bonds, 6 per cent int. is paid. . ..... BuropeanclNo.Ame1·.-Stock, 5p. o. rental, M. G... Evans'Dille cl: Indianapolis-lat m., Evans.&Ind. g.c~ Terre Haute & Southeastern-1st mort ..••...... c* Ev. & Ind. Cons. M. (for $2,500,000) gold, guar .c* E-cans'IJille ti T. Haiite-Btook. •••. ... . • •• . . •• .• •• . • •. let consol. mort., gold ..... ...................... o* 1st M., Mt Vernon Branch, g. ($15,000 p. m.) •. o" Evans. & Richmonrt, lstM. guar. ($12,0oOp. m.) 1 S85 1886 . . -;;, 1 8 8 ., 1851 1876 1887 $1,000 1,000 1,000 miles. A coal road, opened in 1874. The stock is $815,602; par $50· In year ending Nov. 30, 1887, gross earnings.., were $117,3i9; net• $21,483. In 1885·86, gross. $96,066; net, $a,22.:>. East PeJlllsylvania.-Owns double track from Reading, Pa., to Allentown, l'a., a6 miles, and bra11ch to Avon, under construction, 4 miles. It is leased for 999 years from May 1, 1869, to the Philadelpb1a & Reading RR., at a rental of 6 per cent per annum on the stock and interest on the bonds. Above bor.ds were issued to retire those -due in 1888. Austin Corbin, Pres't, Philadelphia.-(V. 46, p. 173.) Ea•t TenneHee Vlr"1nla & Georgia Kallway.-(See Map.)Owns: Bristol to Chattanooga, Tenn., 242 miles; Morristown to Unaka,, 44 m.; Cleveland to Selma, 264 m.; Selma to Lauderdale., 95 m.; Ooltewah to Cohutta, 11 m.: Rome, Ga., to Macon, 159 m. (18 miles jointly with Georgia. Pa.ci:fl.c) ; Macon to Brunswick, 190 m.; Cochran to Hawkinsv-Ule, 10 m.; total, 1,015 m.; operates Lauderdale to Meridian, 18 m ; Wal.dens Ridge RR .. Emory Gap to Ciinton. Tenn., and branches, 50 m.; 'riital owned and operated June 30. 1888, 1,083 m. Controls the Knoxville & Ohio road, 66 miles, the lines or the Memphis & Charleston RR.. trom Chattanooga to Memphis, Tenn., 310 m., and the Florence and gomerville branches, 20 m., the Mobile & Birmingham, 150, in all 546 m., making a total of 1,629 miles. · Thia company, theE. T. Va. &Ga. Railwa11Co., was formed in 1886 as e.J).ccessor of the E.T. Va. & Ga. Railroad, which was sold in foreclosnre May 25, 1886. The :first prernrt d stock is entitled to a non-cumularive dividend of 5 per cent, and bas "the right for five years (till 1891) to elect a majority of the Board of Directors of said company, unless bf'lfore that time the said company should pay out of its net earniogs 5 per cent dividends on such prefe1·red stock for two full successive years." Dividend of 4 p, c. paid 01& 1st pref. stock in 1887 and 5 p. c. in 1888. In January, 1887, a sale was ma.rte of $6, 500,000 or tne first pref. ,stock to the Ri<-hmond & West Point Terminal Company thus givi-:lg them control of the road for five years unless diviJ.ends of 5 per cent are paid on pref. stock for two years. In Oct., 1888, a lease for 99 yea.rs to the Richmond & D11,nville was proposed, but enjoined by the court11. The trustee under the consolidated mortga11:e of 1886 and the let extension mortga1?e of 1887 is the Central Trust Company of New York. $7,325,000 consolidated bonds were reserved to rt-'tire prior bonds of the Alabama Central RR. and the E. Tenn. Va. & Ga. RR. The mortgage of 1888 tor $6,000,000, covering all the company's property (Central Tr. Co., trustet-), provided for new equipment, im· provements, etc. Dividends have been: On 1st pref. stock in :887, 4 per cent; 1n 1888, 5. Ran'1:e of prices of new stock has been as follows: t ·ommon, in 1886, 1Htl8 7 s: in 1887,918@17; in 1888. 8@1114 in 18ii9 to J im. 18 inolmdve, 9-@9½.: 1st pref., in 1886, 6711831Js; in 1887, 521l!821il; in 1888, 55 ~ '88; in 1889 to Jan. 18, inolus♦ Te, 65a67: 2d pref.. in 198!-l, 24w35~; in 1.8"7, 18w32; in 1 8-;, 17:i,a'a)27~; in 1889 to Jun. 18. 2214@2314. From July 1, 1888, to Nov.30, 1888 (5 mos.), gross earnin~s (including Knoxville & Ohio) were $2,462,632, against $2,44L,327 in 1887; net, $857.188,.against $910,173. The fisca.l year e.nds June 30. The a.nnua.l report for 1887-88 was publi~ed in the CHRONICLE, V. 47. p. 623. The results do not include the operations of the Knoxville & Ohio. Ill"~P¥t8t ,.lCCOUNT. 1 1 1887·88. Receipt.\ : ) ,,-!:.1!,, 1886-87. $5,lO!l .918 Total gros.s ea~ings •.••.•••. ~.:.~.:,,..',;.:iJi $4.368,180 $1,723,835 Net income.........................·:·:. .. $1,354,4.8J .Disbursements- lnte;rest on debt........................ . D1Vi,dend on _1 st pref. stock•.•••.•..••.• oti>.~r pa.3 men ts ........................ . $833,343 440,000 $1,(186,993 (5%) 550,000 16,156 Tot. disbursement@.................... $1,273,343 $1,653,149 Balance•...•......•••.••..••..••..••••••• sur. $81,146 $70,68ti The .Knoxville & Ohio ~csa earnin11:s in 18R7-8 were $i90,291 and net, $187,407.-(V. 4.!'i, p. 53, 271. 272, 304,400, 513t, 613, 6'71, 6'74, V43; V. 4(1, r. 708; V. 47, p. 50, 81, 188,200, 353,381,410,442,472, -499-, 532, 623, 625, 663.) Ea8' ~ Wesl RR. Co.• of' Alabama.-Roa.d is projected from Gainesville, Ga., to Birmin,rham. Ala., and bra.no.hes, 207 miles; completed from Cartersville, Ba.t to Pell City, Ala., 117 m. The above bonds were 1Ssued in 1887 and r et:tred $800,000 of prior 1st mortg. bonds a.nd $500,· 000 of debentures outstanding. Stock (authorized), $2,000.000 (Par $100), issued a.t $10,000 per mile ot completed road. ChaR. P. Ball, CartersvillP, Ga., R eceiver. F,,reclosure in p r ogress. E. Kelly, Presi~ent, New York. (V. 45, p. 211,240, fl73; V. 47, p. 140.) Eastern (lflass.,)-Owns from Boston, Mass., to New Hampshire State Line, 41 milef:!; branches-Salem to Marblehead, 4. miles: Beverley to Gloucester, 17 miles; Salisbt1ry to Amesbury, 4 miles; Peabody to Wakefield, 8 miles; Salem to Lawrence, 20 miles; others, 2 miles; total, 119 miles. The leases of the Eastern RR. of N. H., 16 miles; Newburyport City RR., 3 miles; Portland Saco & Portsmouth, 51 n.!les, Portsmouth &Dover, 11 miles; Portsm. Gt. Falls & Conway, 73 miles; and Wolfeboro RR, 12 miles, have been transferred to B. & M. A. iease to Boston & Maine was negotiated on new terms cr-om Oct. 1, 1883, on the basis of combining the total earnings, paying all charges, a.net di:viding the surl}lus income as follows: 1. To B. & M., ~630,000 (9 per <ieil.1t-iiii. fts stock) ; 2. To Eastern, $100 000 for sin.king fund; 3 • .ro B. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ------ $1,000,000 6 J?. J. & J. N. Y., Chase Nat. Bank. 6 g. .T. & J. 2,000,000 do do 6 g. J. & D. Last pa.id Dec., 1887. 1,725,000 100 4,997,600 4¼ Boston. Of.Eastern RR. 100 3,149,600 3 M. & S. do do 41.g M.. & S, 100 &c. 194.400 d ·~ do 9 ,~80,000 6 g. M. & 8. Bost.,Shaw'ut Bk.&Lon. 500 &o. 41.g M. & 8. Boston and Lon11.on. Nil. ·i·s .... ·ioo 492,500 214 J. & D. Boston, by Treasurer. 94 100 2,792,800 l A.. & 0. Boston, by Trea-surer. 6 g. M. & 8. N. Y .. Mills Building. 110 i872 1,000 3,282,000 75_0 ,00Q 120 1884 1,00.0 6 f!. A. & O. New York, 115 B'wa,y. 1,250,000 4 to 5 ,;. J. & J. 120 18$4 1,00 0 do do 100 1,500,000 . • • ·A 98 Baltimore, N. Cent. RR. .. :fg. J .. & .. J N. Y.Nat. Bank Com. 1 500,000 8 8 .., 31 1,000 77 •••• 50 500,000 2¼ M. & N. Phila., Penn. R.R. Co. 500,000 3¼ J. & J. do do . • ~. 77 50 77 1 8 6 0 1,000 1,000,000 6 .r. & J. do do 570,000 .. • • 1863 500 5 .~. & 0. do do 1,998,400 102 . ••. 50. 1~ Q.-M. N. Y., Union Trust Co. 91,800 7 A. & 0. do do 8119 1865 lOO&c . 100 1870 1,000 685,000 7 A.. & O. do do 2,485,000 10.0 1868 1,000 7 J. & .J. do do 500,000 19 1883 1,000 6 g. F. & A. N. Y., Mercantile Tr. Co. 500,000 .• .,. 1883 500 6 Feb. l. do do 2,500,000 21.g A. & 0. Bangor, Treas. Office. 11 ~ 100 54 i884 1,000 697,000 6 g. J. & J. N.Y .. Farm. L. & Tr. Co. 260,000 40 1879 1,000 7 M. & S.t do do 1,003,000· 135 188€ 1,000 6 g. J. & J. \ do do 3,000,000 . • •• 156 50 114 Q.-J. IN.Y., Farm. L. &Tr. Co. 3,000,000 144 1 8 8 1 1,000 6 g. J. & J. do do 375,000 25 1883 1,000 do do 6 g. A. & 0. ... . 1888 1.000 (11 5 J. & J. N. Y. Manba.tan Tr. Co. 66 112 119 .••. .••. . • •• July 1. 1918 July 1, 1925 Dec. 1. 1926 Dec. 15, 1887 Sept. 1, 1888 Sept. 15, 1891. Sept., 1906 Sept. 1, 1906 DM. 15, 1888 Oct. 1, 1888 Mar. 1, l!l02 April 1, 1914 April 1, 1914 Juiy"1,"fa24. Nov. 1, 1888 Jan. 1, 1889 Jan. 1, 1910 Oct. 1. 2862 Dec., 1888 Mar. 1, 1890 Oct. 1, 19C0 July 1, 1898 Feb. 1, 1933 Feb. 1, 1933 Oct. 15, 1888 July 1, 1924 Sept. 1, 1909 Jan. 1, 1926 Jan. 21, 18E9 July 1, 1921. April 1, 1923 1928 & M., $70,000; 4. To Eastern, $336,000; balance to be spent by lessee on both properties pro-rata. A consollila.tion is proposed. Mortgage notes for $675,800 are outstanding, secured by real estate. Divideuds have been: On common-In 1887, -!¼/; in 1838, and since, nil; on preferred-In 1887 and 1888, 6. Assets in sink. fund SeJ)t. 30, 1888, were $722,336. Fiscal year enrl.s Sept. 30; the following shows the result of operation with Boston & Maine in 1886-87, surpluR income divided in accol'dan~ with the terms of the lease. In 18 i7-88 after B. & M. h a.d received its share there was nothing left for the Ea.stern common stock. To Bos. & M. To Eastern. Boston & Maine Railroad (9 p. o.) ............... $630,000 $ . ..•...• Eastern Railroad, sinking fund............................. 100,000 Boston & ~hine Railroad. (l p. o.).. .. .. .. .. .• .. .. 70,000 .•...•.• Eastern Railroad, balance .•.•.•............• . .... ....:..:.:.:.:. 330.000 Total. ......................................... $700,000 $-136,00!) -(V. 45, p.13, 705, 743, 820, 856.) Eastern (N. H.)-Owns from Portsmouth, N. H., to Bea.brpo)lc (Massachusetts State Line), 16 miles. It was formerly leased for 9~ years to the Eastern (Mass.) Railroad, and a new lease was made frOIJl Oct. 1, 1878, for 60 ye:i.rs and two months at $22,500 per year, equal to 41.g p.ct.pera.nnum. M. Currier, Pres.,Manchester, N. H.-(V. 45,p. 612.) Eel Klver.-Owns from Lo1ransport., Ind., to Butler, Ind., 9& miles. This was formerly the Detroit Eel River & Illinois Railroad. sold under foreclosure July 6 1 1877. A lease of the road from April 1, 1887, wa.s made to Wabasn Wedtern on the b ast! or 2 per cen.t yearly on the stock till April, 1892, ta.en 219 till 1895 a.nd 3 p. c. thel'&after-thls to be paid on $3,000,000 stock. Ellzabethto,vn Lexington & Big Sandy.-Owns Lexin~op. to Junction, near Denton, 10~ m.; A. C. & (. Junction to Big Sandy River, 7 m .; total owned 110 miles. Leases Junction with A. 0. &l. Co., n ear Denton to A. C. & I. Juno., 21 miles. West Side Bi~ Sandy River to Huntin~n, 9 miles; total operated, 139 miles. From Feb. 1, 1886, this roarl was leased for 250 years to the Newport News & Miss. Valley Co. on the basis of paying the annu"l net surplm1. ir any, to tllis company. Capital issued. $3,563,353. There ➔ re also $!-, 9,520 certiftc11tes or in<lebtedness. Einking fund is $25,000 yearly, but- no l)onds drawn. From Jan. 1 to Sept. 30. 1888 (9 mos.), gro~..i earnings were $738,648, against $792,484 in 1837; net, $219,340, against $276,. 907. For year 1886 gross earnings were $937.5~9 ; net. $333,616; rentals and taxes, $18,266; interest,, $L96,920: surplus $24,970. In 1887, gro~s ea.rniu~ were $1,115,073; net, $-108.854; s 11rplu-. over rentl;'l8, taxes and int., $160,9f.3. (V. 45, p . 642; V, 46, p. 289, 412,) Rbnlra 0ortland & Northern.-Elmira.. N. Y., to Camden, via Canastota, N. Y., 141 miles, of which Elmira to Horseheads. 5 mil~~ and Cortland to De Ruyter, 20 miles, are leased fo1· 4:J9 :vears, a.~ Canasrnta RR.. 21 miles. during corporate existence. Sold in fore• closure in 1878 and again in Feb., 1884, and reor£?anized as at present. The 1st mort. for$1,250,000 bears 5 p. ct. arter 1889. Stock is $2,000,000; pa.r, $100. In year ending Sept. 30, 1887, gross earnings wer~ $374,90a; net income, $'16,323; interest, taxes, &c., $93,686: defl.olt_ $37,36.l; total deficit, $289,106. Austin Corbin, President, N. Y. Citv. Elmira & Lake Ontario.- Owns from CanandaiguR, N. Y., to Watkins, N. Y., 47 miles; to Ohemun.~ Junction, 1719 miles; SoC~s Point to Stauley. 34 miles-total, 98 miles. This company- w,1,s a COlleolidation in December, 18i3t3, of the EL:nira. Jefferson & Cll.nandaig11a. the Sodu.s Bay & 8011thern a.nd the Cllemun~ Railr ads, with st•Jck an!J bonds as above. Ili 1B leased at cost of operating to the Northern Central, wlliQh owns $1,4.98,000 of the stock a ·1d $20 .') ,000 SodllS Bay bonds. Lease may be terminated on thitty days' notice fi:om eith6r party. In 1887 the gross earnings were.$626,042; net, $22,150. IUmtra & ,vuuamsport.-Owns rrom Wllllamsport, Pa., w Elmira, N. Y., 77 miles. This company was reorganized under t4e present name Feb. 29, 1860, and leased to the Northern Centra.l Ra.Uway for 999 years from May 1, 1863, at a renta.l of $151,500 per annum after Ja.n. 1, 1880. The dividends on the common stock are 5 per cent and on the preferred 7 per cent. Gross earnings in 1887, $927,489: net, $298,716; su-rplus to lessee, $147,216. Gross earnings in 1886, $40,789; net $214,443; surplus to lessee, $162,943. Erle & Plttsburg.-uwne from New Castle, Pa., to Girard, Pa., 82 miles; branch, Dock Junctlon to Erie Docks, 3 miles; lea.sesGirar<1 to Erie, 17 miles; total operated, 102 miles. Road opened in 1865It was leased to the Pennsylvania RR. for 999 years from March 1, 1870, at a rental of 7 per cent on stock and interest on the bonds. and the lease was transferred to the Pennsylvania, Co. The lease h!)S been quite unprotltable to the lessees; the deficiency paid by them ln 1881 was $233,522; in 1882, $207.651: in 1883, ,itl J 0,071: in 1884, $307.841; in 1885, $354,633; in 1886, $225,794; in 18,;7, $237,306. Enreka Sprlngs.-Sdigman, Mo., to Eut'eka SprJngs, Ark.• 181s miles; projected to H arrison, Ark., 50 mi.lea beyoml. Stock, $500.~00; par $100. There is a traffic contract with St. L •uis & Sau Fran01sco. In 1887 ~oss earnings were $96,27'3; net, :f,6-i,95B; surplu~ ove1· interest. $8,922. R. u. K-,rens, President, St L out .., Mo. (V. 45, p. 373.) .l!.nropean & North American. - Owns from Ban.,.or, M~ •• to Vanceboro (State Line), Me., 114 miles. On Aug. 31, 1882, a 1~!!8 was made t;o the Ma.ine Central for 9il years, for $125,000 per a.nn~w, equal to 5 per cent per annum on the stock, and asswning the bou!leil debt of $1,000,000, which is given nuder Ma.ine Central. ILt IL'; 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 KNOX.V ILLE & OHIO WALD.ENS RIDQE INVESTORS' SUPPLEMENT. 38 ·cvo:C:. XLVIll. Sub•crtben will conCer a great f'avor by giving Immediate notice of' any error di•covered In the•e Table•• .Bonds-Prino1INTEREST OR DIVIDENDS. Miles Date Size, or pal,When Due. Amount of of Par Outstanding Rate fer When Where P~able, and by Stocks-Last Road. Bonds Value. Cen . Payable om. Dividend. DESCRIPTION. For explanation of column headings, &c., see notes on first page of tables. ---- --- --- lloannille rerre H. ~ Onie.-latM., g.,int.guar ... c" 55 1870 2d mortgage, gold ......•..••..•••.••..•.......•.. c* 55 1872 Fikhburg-Common stock ..•...••.•••.•••.••...•.... 369 Pref 4 p. c. stock, non•cuw. (T. & B., see remarks) .... Bonds to State of Mass. (3 p. ct. int. till 1892) .... iss1 ·74&7 Bonds, coups., $500,00:J are 6s, due Oct. 1, 1897. .. Bonds,$500,000 y'rly,'99 to 1903 incl. .rest 1908 c• . '80·'88 1887 Bonds .••...•......••...•..••..••...•......•...•. c&r '84-'87 :mJonds ($1,250.000 due 1907, int. A.& O.L. •...•. Boston Ba.ne & Gardner, 1st M., $91,300 are 7s. ssig 1873 2d & 3d M, ($57,000 3d M. 6s, conv into stock). . 1875 1883 'Bost. Hoosao Tunnel & West, debentures . .•...... ,Zintt:f Pere Marquette-Com. stk, (for $3,500,000). 364 Pref. stock, non-cumulative (for $C,500,000). · • • · 364 Reorganization mort!age, gold ($5,000,000).. . . c 302 isso 1887 Equipment bonds, $ 0,000 paid annually ..•...•. Holly Wayne & Monroe, lat M., sink. fund, end.c .65 1871 Florida Oentral if Penin.-1st pref. st'k,5 p.o.,oum. 573 .... 2d pref. stock, 5 per cent, non-cumulative .. _•.• _. 573 lat mortgage. gold, $5,240 per mile .••.......... c* 573 isAs FondaJohnstoumd Gloversville-lstM.,s.f.notdn o* 10 1870 26 1881 Oona. M. for$500,000 ($300,00ures'd for lstM.).c 45 1880 ,ort Madison d: Northwestern-lat mort., gold ....•. Fort Wayne d! Jackson-Common stock ..•.....•... _. 97 . Pref. stock, (8 per cent) ..•...........•...•...•..••. 97 Fort Wayne Oincinnati ~ Louisville-Stock ..••... _. 128 . Fort Worth d: Den-,,. Oity-lst M., g., $18,000 p. m.c* 450 6al-,,uton Harrisb.d: S•.A.ntonio-lst m., gold, 1. gr.c* 256 '71·'80 2d mortgage, Houston to San Ant. and branoh.o'· 226 1880 West.Div.,lstM.,~.,SanAnt.toE1Paso,636m.&br .. 671 1881 do 2d mortga.ge ..............•...... o .. 671 1881 ---· ---·-· --· ---· --· ·--· --· --· issi $1,000 1,000 100 100 $775,000 325,000 7,000,000 13,525,100 5,000.000 1,000,000 1:000 1,000 4,500,000 1,000 2,250,000 1,000 2,2j0,000 100 &c. 391,000 243,600 1:000 1,400,000 100 3,9t8,200 100 6,342,000 1,000 3,924,000 1,000 285,000 1,000 1,000,000 1,582,001) 100 100 4,500,000 1,000 3,000,000 100 &c. 300,000 100 &o. 200,000 500&0. 320,000 100 431,747 100 2,287,832 4,000,000 1:000 8,086,000 1,000 4,756,000 1,000 1,000,000 1,000 13,418,000 1,000 6,354,000 Evansville & Indlanapolls.-(See Map E 'V. ~ T. H.1-0wns Evansville to Terre Haute, Ind: (via Worthington), 135 miles; branch 3 A consolidation in Oct., '85, of three corporations, viz.: the Evansville & Indianapolis, the Evansville Wash. & Brazil and the Terre Haute & Southeasttrn RRs., and is controlled by Evansville & Terre Haute. Of the con• ,solldated mort. bonds, $900,000 are reserved to meet prior liens. The consolidated bonds are guaranteed by the Evansville & Terre Haute Co. Capital stock, $2,000,000. In year ending Aug. 31, 1887, gross earnings were $230,402; net. $102,292. In 1887·8, ~ross $246,.955; net $89,021. (V. 45, p. 26, 509.) Evan•vllle & Terre Haute.-(See MapJ-.Owna from Evans. ville to .rerre H., Ind., 109 miles; Ft. Branch to Mt. Vernon, 37 miles; New Pittsburgbranch, lOmiles; total operated, 156 miles. The Rockville Extension, 23 miles additional, is leased to the Terre Haute & Logans• port and Obie. & East Ill. for $12,000 yearly. Formerly the Evansville & Crawiordsville RR. Co. This company is building the Evansv. & Richmond road to extend 150 miles from Elnora. on the Evansv. & Indianapolis RR. to Ricllmond, Ind. Tllere are also $30,000 E. & C. RR. consols. Dividends since 1880 have been: In 1881. 4 lg p. c.; in 1884, 20 stock; in 1885, 3; in 1886, 4; 1n 1887, 5; in 1~88, 5. Annual report for 1887-88 in V. 47. p. 530. Gross earnings year ending Aug. 31, 1B88. $863,67n; net. $406,464; surplus over all interest and 5 per cent dividends, $47,832. In U86-'37 surplus over 4l\i per cent dividend, $36,949. (V. 45, p. 26, 53'7, 538; V. 47, p. 530, 531.) m.; leases branch to Brazil, 12 m.; total, 150 miles. Evansville Terre Haute & Chlcago.-Owns 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 'l'erre 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. Josephus Collett. President, Terre Haute. Ind. Pltchburg.-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 Cambridge to Waltham, 8 miles; South Acton to Marlborough, 12 miles; Peterborough & Shirley, Ayer, Mass., to Greenville, 24 miTes; Saratoga and Schuylerville, 25 miles; Ashburnham branch, 3 miles; total owned, 299 miles; leases and operates-Vermont & Mass. RR., Fitchburg to Greenfield, 56 miles; Turners Falls Branch, m.; Bennington, 5 m.; in-0luded above, 6 m.; total leased, 70 m.; total owned and operated, Sept. 30, 1888, 369 m. The present company was formed by consolidation in 1887 of the Fitohburg RR., Troy & Greentleld RR. and the Hoosac Tunnel. and the purchase of the Troy & Boston railroad. or the preferrdd stock ~H,333,300 was authorized for Troy & Boston stock, &c., and receives only 2 2-5 per cent yearly till after March, 1891. and then but 3 1-5 per oent till after March, '95, and in case of extraorninary expenditures on the T. & B. beyond amounts provided for, the dividends may be withheld. Troy & Boston 7 per cent bonds for $1,200,000 nave 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. 47, p. ~l. There is also outstanding a 4 p. ct. mortgagt' note of the H. T. D. & E. Co. for $500,000 due 1B92. . Dhidends since 1866 have been: From 1866 to 1875, incl., 8 per -0ent; in 1876, 7; in 1877 and 1878, 619; in 1879, 6; in 1880 and 1881, '619; in 1882 and 1883, 6; in 1884, 51.g; in 1885 and 1886, 5; in 1887, 5 .(and then stock was made preferred, dividend of 3313 per cent in stock of new company being paid to old stock holders) and 2 on the new pre terred; in 18!,8, 2 on p1eferred, No,ember dividend bemg passed. The fl.seal year onds Sept. 30. The annual report was in V. 47, p. 774, and gave an account of the transactions of the year. INCOME ACCOUNT. Total miles opuated Receipts"J.'.ot. grmis earn' gs .••• Net earnings .••.. _•. Rents and other inc. Total income .••. DisbursementsBentals paid ....... . Interest on debt..••. Other interest ..•••.. D1vidend1.t..•...•...• Bate of dividend .••. Total disbursem'ts Bala.nee ............ . 1884·85. 228 $ 1885·86. 229 $ 2,820,119 673,159 71,130 3,295,289 735,624 10!,253 74!,289 839,877 252,581 220,688 2¥i:1foo (5) ---720,769 sur.23,520 1886-87. 34.5 $ 1887·88. 369 $ 4,373,439 890,785 195,882 5,384,490 1,187,885 78,803 256,480 260,763 266,011 423,228 2·s,1;3:fi (5) 3·6s::is·s (*4) 281,280 680,388 5t',715 261,836 <·2) -1,086,667 - - - - -1,266,693 --- 781,574 1,055,727 sur.58,303 surp.30,940 -1,282,219 --def.15,526 • .lnd s 5 of 2 per oent on 10,000 shares. 09 708 v 47 21 50 218 625 66 4 -(v • 46 • p. 25 5, 4 80 ' 6 Y ' ; • • p. ' ' ' • ' • '77' 4 .) 'Pllnt & Pere 1'Jarquette.-Owns from Monroe Mich. to Ludin gton, Mich., 253 miles; branches-Bay City to East Saginaw, 1 3 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 g. M.&N. N.Y.,Farm. L'an &T.Co May 1, 1900 6 g. .J. & .J. .Ja.n. 1. 1900 do do M..&...N. Boston, Office F. & A.. do do A. & 0. do do Various do do M.& 8. do do Various do do A.. & o. do do J. & .J. do do M.& 8. N. Y., Kountze Bros. ··a¼ F . .&..A.. N. Y., Mer. Ex. Nat. Bk. 6 g. A. & 0. do do M.&N 5 do do .J. & J. 8 do do T 3 to4 6&7 5 41.g 4 5&7 3&6 5 . --· ·--· ... -··- -- . Mai.iiCiB88 Feb. 1 1 1937 Ap.'94& O<'~'97 Var.'99tol908 Sept. 1, 1897 1&04·5-7 April 1, 1893 July 1, 1895 Sept. 1, 1913 Aug.T5," ·i888 Oct. 1, 1920 Nov.l,'89to'97 Jan. 1, 1901 . --·. ---.. -~--- --· ••5.g. 7 6 7 g. .J. .&. ·.r. N. Y., Am. Exch. Bk. .J. & J. N. Y., St. Nich. Nat. B'k . A. &O. do do A. &O. Last pa.id April, 1883. ··2i\i ..6.g. M_-&··s. N Y.,Farmers' L.&Tr.Co sei>t:·i;·i888 6 7 5 6 J. °&(n. N. Y., Mercantile Tr. Co. g. F. &A. N. Y., So.Pao.Co.,23 Br'd do · do J. & D. g. M.&N. do do J. & J. do do Ju1i·i",""i91s .July 1, 1900 May 1, 1921 April 1, 1905 Deo:·1;·io21 Feb. 1, 1910 June 1, 1905 May 1, 1931 July 1, 1931 miles; Flint Junction to Otter Lake, 20 miles; South Saginaw branch, 5 miles; Harrison brancll, 32 miles ; Manistee branch, 26 miles ; Saginaw & Mount Pleasant R3ilroad, 15 miles; total operated, 364 miles. The road was sold August 18, 1880, under the consol• idated mortgage, and reorganization was made. The common stock of $3,500,000 was to be issued only after the preferFed stockholders ha.d received 7 per cent yearly dividends for five consecutive years. But in March, 1888, the Court held they were entitled to have their stock issued (See V. 46, p. 371.), and a.joint board of directors was elected in May, 1888, representing all interests. Dividends on preferred stock since 1880 have been: In 181'1. 21.g per cent; in l882. 6; in 1883 and 1884, 7; in 1885, 5¼1; in 1886, 4½3; in 1887, 5¼; in 188~, 7 and 5 extra. On Jan. 1, 1888, the land notes (principal and interest) on hand for lands sold were $214,809, and lands yet unsoid 79,378 acres. From Jan. 1 to Nov. 30, 1888 (11 mos.), gross earning~ were $2,197,459, agst $2,364,850 in 1887; net, $687,590, against $745,851. Annual report for 1887, in V. 46, p. 572, and applicatlon to Stock Excharrge in V. 47, p.441. INCOME ACCOUNT. 1884. $ 1885. $ 1886. $ 1887. $ Tota.I gross earn's .. . Net earnings .. ..... . 2,252,988 737,527 1,946,790 598,950 2,160,771 649,669 2,572,937 757,654 [nterest on debt ..••• Dividends·-······ •.. Miscellaneous ..•.... 337,223 455,000 329,499 260,000 4,226 ::122.910 · 325,000 329,194 422,500 Disbu1·sements- Total disbursem'ts. 792,223 593,725 647,910 751,694 Balancefortheyear. def. 54,6~6 sur. 5,225 sur.1,759 sur. 5,960 -(V. 46, p. 200,371, 4l8, 511,537, 5'72, 802; V. 47, p. 441, 625.J Florida Central & Penlnsul,1r.-Owns Jacksonville to Chatta hoochee, 209 miles; Tallahassee to St. Marks, 21 miles; Drifton to Mon ticello, 4 miles ; Fernandina south, 179 miles; Waido to Cedar Keys, 72 miles; Wildwood to Leesburg, 23 miles; Hart's road to Jacksonville. 25 miles: Withlacoochee to Plant City, 38 miles; Jacksonville & Belt Li.ne RR., 3 miles; total, 573 miles. The Florida Railway ,& Navigation RR. Co. (which was a consolidation in March, 188-l, of the Florida Central & Western, Florida Transit & Peninsular, Fernandina & .Jacksonville a.nd the Leesburg & Indian River railroads), was, in Oct., '8.>, placed in the hands ot a receiver, and iu 1~88 the property was sold in divisions, and the present company organized, with H. R. Du val as Presideut. The other directors are W. Bavard Cutting, Adolph Eugler, Wayne McVeagh, R. Fulton Cutting, W. L. Bree, e, E. N. Oickerson, .T. A. Henderson, Ferdinand Peck, o. E. Max.well and F. W. Foote. The common stock is $20,000.000; par. $100. The plan of reorg11,nization wa!I outlined in V. 46, p 289. In fiscal year ending oc -•. 31. 1887, gross ea.t'n• ings were $1,066,618; net, $203,423. In 1837·88 J?rosP, :til,019,814; net, $170,648. (V. 45, p. 042, 705; V. 46, p. 75, 133, 171, 200, 289, 448, 573, 609; v. 47, p. i1. 81, 744.) :Fonda .Tohnstown & Gloversvllle.-Owns from Fonda, N. Y., to Northville, 26 m. The stock is $300,000; par, $100. Gross earnings in 1887-8!3, $206,511; net. $85,475; surplus over charges and 10 per cent dividend, $23,355. W . .J. Heacock, President, Gloversville, N. Y. Port Madison & N orth-western.-Narrow gauge road from Fort Madison, Ia., to Collett, Ia., about 45 miles. Stock, ${25,600. Default on bonds was made October, 18~4, and on .Tune 30, 1885, a receiver took possession, and it was proposed to issue new bonds and make a reorganization, but nothing was done and an order of sale in foreclosure 18 expected soon. C. A.. Gilchrist, Receiver, Fort Madison, Iowa. Fort Wayne Cincinnati & Louisville.-From Fort Wayne, Ind., to Connorsville. lnd ., l•J4 miles: branch to Rushville, Ind., 24. miles: total operated. l:.!8 miles. The Fort Wayne Muncie & Cin. was sold in foreclosure, July 27, 1881, and reorganized under thi11 name. There are $100,000 notes, due 1 q93_ Gross receipts in 1886, $271,561; net, $58,241. Gross in 1887, $290,215; net, $58,908; interest paid, $7,000. Elijah Smith, President, N. Y. Fort Wayne & .Tackson.-Owna from Jackson, Mich., to Fort Wayne, Ind, 97 miles. The former FortWayne .Jackson & Sa~awmade default on its bonds and was sold in foreclosure Dec. 3, 187::,. On Sept. 1, 1882, leased perpetually to Lake Shore & Mich. Southern at a rental ot $126,027, equal to 5½3 per cent on the pref. stock, and after 11387 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. Fort Worth & Denver Clty.-(See Map)-Owns from Fort worth, Tex., to Texas State line, 450 miles, completed in March, 1888. In 1888 etock of the consolidated company, Denver Texas & Fort wortb, was accepted in excbanJ!;e for all but $500,000 o.r this com• pany's $8,985,000 stocH. (Ree Denver Texas & Fort WortL). Bonds were issued at $25,000 per mile tor the 144 miles to Harro1d. but beyond that point to be issued at $16,000 per mile. See abstract of mortgage, V. 45, p. 440 (Trustee, Mercantile Trust Company of New Y••rk.) The construction company paid interest on the bonds till each piece of road was turned over to the company for opera.tion; hence the earnings on road operated have exceeded the interest charge (see annual report for 18a7-88 in V. 48, p. 36.) Range of stoek prices since 1884 have been as follows: In '1885, 14@25; in 1886, 15@2519 1n 1887, 21191)62¼; in 1888, .l.&WUARY, 1889.J RAILROAD STOCKS AND BONDS. MAP OF THE & TERRE HAUTE R.R., 158 Miles & INDIANAPOLIS R.R.,·· 154 " EVANSVILLE & RICHMOND R.R.(building) 140 " 10 " EVANSVILLE BELT RAILWAY,· · • · PEORIA, DECATUR & EVANSVILLE RY. 256 " EVANSVILLE EVANSVILLE https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ,, INVESTORS' SUPPLEMENT. 38 [¥OL, XLVIII. will conf'er a great :favor by giving l.mJDedlate notice of any error discovered In these Tables. Bond8-Pr1nc1• INTEREST OR DIVIDENDS. DESCRIPTION. Dne. Miles Date 81,e,or Amount Rate per Wht>L Where Payable, and by pal,When Stocks-La.st of For explanation of column headingi,, doc., see notes or Whom. Cent. Pay ::1,r,Je Road. Bonds ~:-e . . Outstanding Dividend. on first page ot tables. \Sub■crlbers I d: Hend. of 1882-lst m .• ~uar .. c Geneva Ithaca d: Sayre-1st M., (for $1,500,000) ... r Ithaca & Athens, 1st mort., s. f., gold .........•. c Georgia Oo.-Tr'stb'ds,s.1 ,dr.atllO aft.Jul;-si,U2,g.t"" GeorgiaMidlc,ndd: Gulf-latM. g,($15,00up. m.).c* Georgia Pacitlo--lst mort., $10,000 p . m int. izuar. 6alt1eston Houston Con. 2d m. int. guar. ($9,000 p. m.) ($5,400,000).c~ income, non-cum. ($9,000 p. m.) .••. c. & r do 6eorgia Railroad d: Banking Oo.-Stock ..•...•..••. Bonds, not mortgage ........................•...•. c Bonds.not mort. ($300,000 mature in 1922) .. c&r ::.·i st i\r".: g.-($'i2;000 p.m:)c~ 6!~;2;•:o~~,:;~~~a.ffi?a &rand Rapids Indiana-Stock ..•...•...•..••.. . c· <l --50 1833 103 35 ..98 .... 307 357 is1i .... ..... 77&80 .... 559 1st M., land grant, golds. f. (guar. bl. Pa. RR) .. c• 335 1st M., gold, ($505,000 are land ~.s . .,not dr'n) .c* 335 2d mortgage, redeemable at 105 till 1894 . ...... c* 367 Consol. mortgage for $13,000,000 ............ c. & r 367 37 Muskegon G. Rap. & Ind. RR. 1st m. traf. guar.c.. Green Ba11 Winona d: St. Paul-lat mort. coup ...•. 219 Funded· coupon bonds .••..••.•••...•...•...•..••... --·· 2d mort. income bonds, non-cumulative ...••.•••. r 219 Ool. d: Santa Fe-1st M., g. ($12,000 p. m.; .... c 1,022 2 lll.o~age ($8,000 per mile), gold ............. c 1,022 d: Ship Island-1st M.. gold, $12,000 p. m ... c* 2 mort. tor $2,800,000 ($ ,000 p. m.), ~old ..•. c* eur Gu[ Bannibald:St.Joseph,-C'onaol.M.(for$8,000,000).c* 1st mortgage _:tumcy & Palmyra .KR ..........•. c'" lat mortgage ansas City & Uameron RR ...... c" Harrisb. Portsm'thMt. Joy <l Lanc.-Stock, 7 %guar. 1st M. (ext'd 1n '83), int. guar. Penn. RR .......•. r Harrisb'g d: Poto'c-latmort. fvr $1,800,000 ••••••. c Hartford d: Oonnectir1 1 t W~tern-lstmort,1rai,ee .... 1885 1870 1887 1886 1882 1888 1888 292 .1.3 54 54 54 38 104 1887 1887 i869 1869 1884 1884 1886 1881 1886 1881 1879 1885 1887 1887 1881 1867 1867 i853 1874 1883 - & 0. N. Y.,M:eruantile Tr. Co. ---- A. J . & J. ... -. - ..... J. & J. Se€ remarks. $1,000 $2,000,000 5 1,000 6 750,000 7 g. 600,000 lOO&c. 5 g. 4,000,000 1,000 6 g. 1,470,000 1,000 3,772,000 1,000 6 2,950,000 500 &c. 5 ~5 g. 2,~50,000 500 &c. 4,200,000 100 2:\1. 100,000 1,000 7 1,000 2.300,000 6 200,000 1,000 5 (1) 6 g. 1,000 4,985,081 100 · ·,;·g. 8,934,000 1,000 1,441,000 1,000 7 g. 2,700,000 1,000 6 1,000 3,267,000 5 5 g. 750,000 1,000 1,600,000 1,000 6 280,830 500 6 3,781,000 1,000 8 1,000 12,696,000 7 g. 7,744,000 1,000 6 /!. fj g. 11) 1,000 6 g. 1;000 m 1,00•. 6,643,000 5&6 483,000 l,Olll• 8 :!.,Ovu 1 10 1,200,000 1,182,550 50 319 5JO &c 1 4 700,000 507,200 100 &c. 7 1,000 6 08 ,000 5 I J. & J. N. Y., Cent1 al Trust Co. J. & J. N. Y., CFmt.ral Trust Co. J. & J . N. Y., Central Trust Co. A. & 0. do do A. &O. 1st coupon due Oot., '89 Q.-J. Am.E.x:.IJk., N.Y.,&Aug J. & J. do do J. & J. do do J. & J. do do J. & J. NY.Nat.CityBk.&Mao'n J ..&.. J . N. Y., Win<Jlow, L. & Co. A. & 0. do do M.&N. do do M.& 8. do do (ii) J. & J. do F. & J.. N. Y.Farmer.a f~& r--.co F. & A. d i' do None ever pa11!. M.&N. J. & ,f. N. Y. Nat:. City Bank. • A , di 0. N. Y .. Hanover Nat. Bk J. & J. N . Y., Agency. do do J. & J. M:.& s. N.Y., Bk.of No.America. F. &A. do do .r. & J. do do J. & J. Pbila., Co.'s Office. J. & J. do do J. & J . Pbila., Third Nat. Bk. J. & J Hartford. A.f:ril 1, 1913 an., 1910 July 1, 1890 July 1, 1937 July 1, 1926 Jan. 1, 1922 Oot. 1, 1923 Oc t. 1, 1923 Jan. 15, 1889 Jan. 1, 1890 '97, 1910,1922 Jan. 1, 1922 July 1, 1927 Oct: T. "t899 Oct. 1, 1899 Nov. 1, 1899 Sept. I, l . ''4 July 1, 1926 Feb. 1, 1911 Aug. 1, 1906 .!)f'l,y 1, 1911 Jul{. 1, 1909 Oo, 1, 1923 Jan. 1, 1927 Jan. 1, 1927 Mar. 1, 1911 Jan. 1, 1892 Jan. 1, 1892 .Jan. 10,1889 July 1, 1913 Jan. 1, 1904 July 1, 190 3 19l1463s. In 1887-88 jlross earninge, 'Sl,016,113; net, $373,433; sur- since 1880 have brnn: In 1881, 912 per cent; in 1882, 1014: f1om 1883 p ·us over interest, taxes, &c., $79,4\·3.-IV. 45, p . 25, 85, 142, 1 66, to 1887. l O; in 1 888, 1034. D e:fl.cit to les~ee companies 1n 1884-85 on the 272,342,437.440, 575. <i42. 768. 792 819, 820, 823; V. 46, p. 75, 'lease was $98,599; in 1886-87, $110.959. In 18S7-88 net income from all sourcel!, including bank, was $671,459, leaving a surplus of $75,500 255,344,413; V. 47, p. 744,801; V. 48, p. 36.) Galveston Harrisburg & San Antonlo.-(See Map of Sm.tthern above all charges, including lO per cent dividends.-:-(V. 46, p. 245.) ~eorgia Son t~ern & Florida.- In opera tion from Macon to Pacijic.)-Owna rrom Houston, Texas, to San Antonio, Texas, 217 miles LaGrange Ex.tension, 28 miles; Harrisburg to Pierce Junction, S :Diles; Vi_enna, Ha., 57 ~I les, and_ under c-onstruction to Palatka., Fla.. 290 leased, Harwood to Gonzales, 12 miles; tot al, 266 miles. wester 1 E x - miles in all, of which 168 miles to Valdosta a.re neai:ly completed .. Trustension, San Antonio to Rio Grande River, conne cting with Sout,hern tee or mort~age is the Me:rca.nt1le Tru t & Depo~1t Co. of Baltamore, Pacific, 636 miles; Eagle Pass Branch, 35 miles; total Western Exten - President, W. B. Sparks, Macon, Ga.-(V. 47, p. 563.) Grand Rapids & Indiana.- (See Map of PennHYlvania RR.)-Owna eion, 671 miles. Grand total, 93 7 miles. The stock is $:!7,093,000. The 1st m<_>rt _covers 256 miles of old road from fort Wn ., ne Ind., to Mackinaw. City, 367 miles; Manistee Branch1 miles; Missaukee Branch, 8 miles; Osceola Branch, 7 miles; tota1 22 but cent, per 1 of fund sinking a has It lawd. of acres 1,500,000 and 1t is optional with bondholders to surrender their bonds, if drawn. owned, 40-1 miles; leaE1es and operates Cm. Richmond & Fort Wayne 86 miles; Trav erse City Railroad, 26 miles; Bay View Little RR., outstanding. debt school Texas $182,034 There is also On Feb. 10, 1885, this property was leased for !:19 years to the Southern Traverse & Mackinaw Railroad, 6 miles; Muskegon Grand Rapids & RR., 37 miles-155 miles, Total, 559 miles. lndiana net the of cent per 1614 and debt the on interest Pacific Company for The Grand Rapids & Indiana Railroad is operated in the interest profits on the whole Southern Pacific system. Railroad Co., and $4,000,000 of the first mortgage Pennsylvania the of $3,459,were From Jan. 1 to Nov. 30, 1888 (11 mos.). gross earnings 754, against $3,032,306 in 1887; net, $871,785, against $599,466 in bonds were guaranteed by tha t company, which has bouQ'.ht the coupons when any remain unpaid by the earnings. First mortgage land grant 1887. In 1887 gross earnings were $3,3'17,184; net, $682,947. bonds may be bought (not drawn) at 110 out of proceeds of land sales. Galvet!lton Houston & Henderson oC 1882.-0wns from Ga.I there was in the sin .. ing fund for 1hem Jan. 1, 1888, $1,599,737 cash veston, Texas, to Houston, Texas, 50 miles. The road was sold in fore anci bills receivable. They are replaced by 5 per cent bonds issued. closure Dec. 1, 1871, and again Aug. 1, 1882. It is now leased for Tbe Muskegon Gr. Rap. & lnd. bonds have a traffic guarantee applicable 99 years, to the International & Great Northern Railroad Company and to their interest payment. Penn. RR. owns all 2d mortgage and $4!.9,000 bonds guaranteed by that oompa.ny. Stock of the new company is consolidated bonus. BeRides abovu indebtedness there is the so-called $1,000,000. In 1886 gross earnings were $401,031; expenses, $395,355; Mackinaw loan for $'.!75,000, and real estate mortgage for $ ,> 6,000. net, $5,676; interest and taxes, $118,467. In 1887 gross, $-108,525; oeThe Co. has a land ~ant, and sold in 1887 21,237 acres, tor $411,218. ficit under operating expenses, ~63,383; interest and taxes, $160,669; The lands W18old on Jan. 1, 1888, were 393,573 acres. The assets were received from rental ot track, $286,202. $553,585 bills receivable and $1,016,151 cash. Geneva Ithaca & Sayre.-Owns from Geneva,N.-.... , to Sayre,Pa., '.rhe income accounts ror three years showed in 1885 a deficit of $140,75miles; branch, Ithaca, N. Y., to Cayuga, N.Y., 38miles; Hayt's Corners 698; in 1886 a surplus of $14,187; in 1887 a surplus of $126,287.-(V, branoh (leased), 3 miles; total operated, 116 miles; organized Oct. 2, '76, 46, p. 134, :l54.) as successor of the Geneva Ithaca & A.thens RR (sold in foreclosure Sept. Green Bay Winona & St. Paul.-Owns from Green Bay, Wis., 2, 1876). The com. 11tock is $1,275,000; pref., $400,000, 8 p c., cumula- to Marshland, Wis., 209 miles; branches, 10 miles; leases-Plover tive; par both $100. Jan., 1889, coupons on Ithaca & Athens mort. were to Steven's pt,, 6 miles; total, 225 miles. This was a reorganization in defaultect on, but the Invest. Co. of Phtl. offered to purchase them at par 1881 of •he Green Bay & Minnesota, which company made default and (see V. 48, p. 68, 100). In year ending s.,pt. 30, 1887, gross earnin~s the road was sold March 12. 1881. Preferred stock is $2,000,000, 7 per were $424,454; net, $28,160; deficit under interest, $60,754. In 1887- cent, a.nd common stock $8,000,000, both stocks $100 shares. On Feb. 88, gross. $448,011 ; net, $6,170; interest payments, $94,166; de:fl.cit, 1, 1885, default was made on the 1st mortgage int., and in 1886 bond$77,096. (V. 48, p. 68,100). holders consented to fund the three overdue coupons and the company Georgia Company .-This company was tormed in 1887 to control resumed payment of interest on Aug. 1 . For 1886-87 gross earnings and extend the system ot the Georgia Central RR. & Banking Co., and were $424,131: net, $113,055; taxes and intnest, $111,223. In 1887owns 40,000 aha.res ($4,000,000) oc the stock of that company, this stock 88, gross. $354,774; net, $59,316. Samuel Sloan, President, New York. being deposited with the Central Trust Co. of N. Y. (trustee of mort- -(V. 46, p. 254; V. 47, p . 5o3.) gage) as security for the above bonds. After .July 1, 1892, a sinking Gulr Colorado & Santa F'e.-(See Map)-Milea.ge as tollows: Gal· fund of at least 1 per cent of outstanding bonds will purchase or draw .-eston to Purcell, 517 miles; Alvin to Houston, 26: Somerville to bonds at 110. Stock is $12,000,000 (par $100), all owned by Rich. & Conroes, 74; Temple to Coleman and San ARgelo, 233; Cleburne to Paris W. P. Term. In November, 1888, the Richmond Terminal purchased and DaUas, 154; Uleburne to Weatherford, 42: branch, 12; total control and elected new Board of Directors, and in 1889 the bonds were Sept., 1888, 1,058 miles. Road was sold and reorganized April 15 endorsed by Rich. & Dan.-(V. 45, p . 792; V. 46, p . 4 of adv'ts, 353; 1879. In April, 1886, the stock of this company was exchanged for the v. 47, p. 625. stock of the Atch. Top, & Santa Fe RR. Co., and the two properties thua Geo rgia Midland & Gnl:f.-Road built trom Columbus, Ga., to consolidated. The Atchison Co. a.greed to " assume the bonded indebtJrloDonough, 98 miles. Stock, $12,000 per mile. N. Y. office, 7 Nassau St. edne~s" of this company. See V. 42, p. 6 30, and v. 48, p. 67; also - (V. 46, p. 133.) abstract ot morts. 1n V. 45, p. 241. In 18~7 gross earnings were $3,608,550; net, $1,0i5,168; surplua Georgia P aelfic.-(See Map of Richmond <l W. P. Term.)-Atlanta Ga., to 8tarkville, Miss., 3 17 miles; Woodlawn to Bessemer, Ala. , 19 over fixed charges, $32,443. In 1886, gross earnings, $2,5.'>6,461; total miles; small branches, 15 miles; Greenville, Miss., t-0 J ohnsonville and net receipts, $835,365; surplus over interest, $72,705.-(V. 45, p. 241, branch (3 ft. gauge). 52 miles; total, 402 miles; and extension 142 342, 878; v. 46, p. 134; v. 48, p. 67,) miles, Johnsonville to Columlms, Miss., in progress. Oper 1ted in the Gu)J' & Ship Island.-This road is under construction 2¼ mllea Rich. &West Point Ter. system. The R. & D. gives a traffic guarantee west of Missisoippi City at Gulfport, a new town owned by the comcouthe but needed, i1 coupons pay to of 20 per cent on joint business pany, to a junction with the Memphis & 'harleston just beyond the Mlspons may be held as a lien. In Nov., ll::!88, this road was leased to the sissippi line. The total length of the road, as projected, is 350 miles, of .Richmond & Danville :tor 20 years, from Jan. 1, 1889 (witb1J>riv1lege of which 63 miles trom Middleton, Tenn., to Pontotoc, Miss., is in operation, renewal), the rental to be net earnings, and the R. & D. agrePing to and about 77 miles to connect with the New Orleans & Northeastern at make up any deficiency 1n these to meet fixed charges, all such ad- Hattieaburgh in progress. Both mortgages cover land a.cqmreu; truevances, however, to be a preferred charge next ahead of the income tee, Manhattan Trust Co. The bonds are held by the Construction Co. bonds (se J V. 47, p. 744), Capital stock is $8,555,000 (par $100), and till road is finished. N. Y. Office, J. B. Dumont, 40 Wall Street. $4,378,432 of it is held by the Rich. &. W. Pt. Terminal Co. There are Hannibal & St. J oseph.-Owns from Hannibal, Mo., to St. Josep11, $334,800 6 per cent oar trust· notes, payable 10 per cent yearly, and Mo., 206 miles; branches-Uameron to Kansas City 54 miles; St. Jodeph $50,000 other notes outstanding. 'l'he 2d consol mortgage (trustee, to At chison, Kans .. 20 miles; Palmyra t ,, Lilli.ncy Ill., 13 miles: leases, Central Trust Co.) secures ~5,400,000 2d mortg age bonds, and also, 2 miles: total operated, 295 miles. The Bridge across the Missouri River subject to these, $5,400,000 2d mortgage non-cumulative intomes, both at Kansas City 1a owned. issued at $9,000 per mile. In year ending Sept. 30, 1888 gross eamings Stock-Common, $9,168,700; preferred, $5,083,024; par $100. C. B. were $1,3'24,926; net over expen ses, $307,145 ; deficit under charges, & Q. RR. Co. owns the greater part of botb classes of stock, and also $5,705. R eport for 1 8 87-88 was in CHRONICLE , V. 47, p. 800.-(V, 45, 119,000,000 5 per cent de oentures. Preferred stock has prior right to a p. '791; v. 46, p. 320,511; v. 47, p. 563, 664,744,800). non-cumulative dividend or 7 per cent; then common to 7 ; then both Georgia Railroad & Banking Co.-Auguata, Ga., to Atianta, share. Dividends on pref. stock aince 18 76 have been: In 1880, 3 per Ga., 171 miles; branches to Was hinl[t,()Jl and Athens, 60 miles; Warren- cent; in 1881 and 188 2, 7; in 1 88 3, 3; in 1887, 7; in 1888, nil. Fiscal ton, Ga., to Macon, Ga., 76 miles; t ot al owned and operated, 307 miles. y ea1 ends D ~c. 31. The income a ccounts have shown a surplus over all The Western Railway of Alabama 18 controlled jointly with the Central charges of $397,562 in 1887; $68,210 in 1886; $506,152 in 1885. RR. of Georgia, this company holdmg one-half the stock of $3,000,000. Harrlsburcr Ports.mouth Mount Joy & Lancaster.-OWDJJ The Macon & August a RR., 76 miles, is owned by this company. The from Dillervfile, Pa., to Harrishurg , P a ., 36 miles; branch, Mid• Port Royal ·& Augusta RR. is owned oue-fifth part by this company; dletown, Pa., to Columbia, Pa., 18 miles; total operated, 54 milea. the Atlanta & Wesli Point thirty-five one hundredths by this company. The propertY was leased to the Pennsylvania Railroad Co. for 999 In April, 1881, a lease for 99 years was made to W. M. Wadley and years from Jan. 1, 1861, the rental being 7 per cent on the stock: and associates, for the Central of Georgia and the Louisville & Nashville interest on the bonds. Stock $1,, 82,550; par $50. Operated as a part • oads, at $600,000 per year, p ayable semi-annually. Dividends of ma.in line of Pennsylvania. Railroad. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ., = r-t I i~ ! 0 u c:r T A .::i. -~:·:L II.I e... ~r, ~ ·--- .. OJ A ~ ~ \ A ~ (C }{ w. C (C ~ 0 0 ~ w. ~0 a ~ ~ ~ ::\1AP OF TIIE {lULF, COLORADO AND TA FE RAILWAY ,_.., ~ ~ ~ 0 :z. ~ BEING PART OF THE 0 "51 <.,, <0 Carmon g 0 I->ucrto ci:: 0 ,<\~ 0~ -1' 1, ., 'V https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis E C Santa Ros:i.lla X F I C 0 80 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. rvoL. XLVIlL JANUARY, 1889.] RAILROAD STOCKS AND BONDS. 61 Subscriber• 'Will conCer a great Cavor by giving Immediate notice oC any error dl•eovered In theae Table•• DESCRIPTION. For explanation of column headings, &o., see notes on first page of tables. Bou,atonu-Btock ..•..••...•..••..•••.•••..•..••.... Preferred stock, 4 per cent non-cumulativ11 •..• _... New consol. mort. (for $3,000,000) .•••.•••••••. c* 2d mort. bonds of 1869 ............................ Oonsol. mort., not payable till 1910 •.••••••••.•... Consol. mort., 10-30s, i,ayable in 1890 ..•••...••. r Rolling stock certificates ........................... Bomt. .Hast if West Texas.-lat M., gld ($7,000 p. m.) 2d mort., land grant . .............................. Boauton ii Texas Oent.-lst M., (main) gold, l.gr.,s.t. l8t mort., 1. -fi_·• West div. (Hempstead to Austin) lat Mlgold, a.co & N'west (Bremond to Ross) .... Coneo mort., land grant, Main and Western Div. Gen. mort., gold (for $18.500,000)..... • ......... sr::~~:::e~:i'r.~_t:~.!~:~-~~:~~ ~~~-~:~·.:~~~:.· 2d mortgage, gold ......•.......• . .••.....•..••..••. 8d mortgage consolidated ......................... llU1Wis Omtral--StocK ............. . ............... } Leased line 4 per cent stock, guar .•••..••.••••.. Mortgage bonds, sterling ......................... . 8terllilg bonds, (s. fd. £20,000 drawn yearly) .. c* Hol"tgage, sterling. bonds of 1905 ................. Mortgage bonds, gold ............................ o• .Mon~e bonds, gold ............................ o* Tm.st ndssterl'g,(seouredbyCh.8.L.&N.O.con.s.) 1st M. on (.,"'11. & 8-p. RR. t Gilman io Springfield) . let M , Middle Div., Otto to Normal June. & l>rs.. r Collat. tru;.t b'ds, gold (for$15,000,000) $ & £ ... o* Ohio.St Louis & N.O., 2d M. (N. O.J.& G. N.J .... lstmort ................... do de 2d mort ..•...•..••......•. do do do cons.M .. gld. (for $18,000.000) do BO'rl,(U- PrmctINTEREST OR DIVIDENDS. Miles Date Size, or pal, When Dile Amount Par Outstandin~ of of Rate When Where P~ble, and by 8((Mka-Laat Road. Bonds Value. Oen • Payable om. Dividead. 164 164 164 74 74 74 i92 192 345 119 58 464 522 64, 64 64 64 1,953 706 706 706 706 706 ii"i 131 224 567 567 567 -....iss1 1869 1880 1880 1881 1878 1883 1866 1870 1873 1872 1881 is54 1857 1865 {.... 1875 1874 1875 1886 1886 1886 1878 1881 1813a 1860 1877 1877 1881 r.r Harrl•bnrg & Potomac.-Owns from Bowmansdale to Shippens• bm'g, Pa., 32 miles; branch to mines, 519 miles; ti0tal operated, 37¼ miles. Stock $379,165; par $100. Austin Corbin, President, Phila.., Pa. HartCord &: Oonnecitcut Western.-Hartford, Conn., to Rhine-c,Bff, N. Y., 108, Foreclosure sru<; was begun in 1880 a ~ t the tormer -conn. West., and the State Treasurer took possession. On May 25, 1881, bondholdeffl reorganized, and stock in new company issued for bonds. In March, 1882, the purchase ot. the Rhinebeck & Connecticut Railroad was made. In August. '87.Jas.W.Huated,of N.Y., waselectedPresident. A eontrolling interest in the road is reported to have been purchased by paniee interested in the Po'keepsie Brid,11:e. by which it will form an allran route a.cross the Hudson River. Sept. 30, 1887, there were still eutstanding $92,700 C. W. RR. 7 per cent bonds, due 1900, convertDile into etook at 60 per cent, on which no interest is paid. Stock is $fl,627,300, par $100, In year ending Sept. 30, 1887, gross earnings were $350,484; net, $97,112; surplus over charges, $65.848. Gross 1n 1887-88, $358,238; net, $90,312; surplus over interest, &c., $5\J,376. -(V. 45, p. 166,212, 2a9, 642; V. 46, p. 228; V. 47, p. 21, 802.) D•n1J&tonlc.-Owna Bridgeport, Conn., u, · State Line, Mase., 74 m.; Brookff.eld June. to Danbury, 6 m.; West 8tockbridge RR., 3 m. <stoek owned); Botsford to Huntington, - m. Leases-Berkshire RR., :nm.; Stockbridge & Pittsfield RR., 23 m.; Danb. & Norw. RR., Dan• bury to Wilson, Conn., 27 m., and branches, 12 m.: total operated, 166 miles. The pref. 8 per cent cumulative stock lssued in 1845 was retired bl 1887 by an issue of new 4 per cent non·cumulative pref. stock, 100 pe:F cent in the same stock or a $100 '.>ond being paid for the past-due dividends. Common stock la exchangeable for the same new pref. on suah basis as the directors may offer. In J 889 the Connecticut Legislature authorized an increase of stock. The consol. 5 per cent mortp:ai:cti for $3,000,000 was issued to effect these c1langes, and $ :170,000 bonds are held to retire old debt. There are also $70,000 5 per cent Danbury branch bonds due October 1, 1912, redeemable after 1892. In Sept., 1886, the Housatonic leased the Danbury & Norwalk RR. for 99 years. Dividends on preferred st~k E>ince lh76 have been: From lb77 to 1884, 8 per oent , in 1881'\, 5; in 1886, 6; in 1887, 3; in 1888 and 4!lnee, nil. ReJ?ort for 1887·88 in CHRONICLE, V. 48, p. 37. .Fleool ye:, r ende SepteDI ber 30. Passenger Freight (ton) 01'088 Net Div.% Years. Mileage. Mileage. Earnings. Earnings. Rentals. Pref. 1887-8.16,538~739 24,550,~37 $1,087,413 $411,939 $164,055 0 1886-7.15,737,214 21,757,014 9i:!2,550 3!:10,253 170.022 3 1885-6. 9,890,020 17,296,373 690,016 240.610 74,100 6 -•v. 45, p. 53, 412, 672, 856; v. 47, P, 449, 744, 775; v. 48, p. ST, 100.> Ho11atoa Eu, &: We•t Texas.-(Narrow gauge, 3 feet.)-Owns t'r$m Houston, Tex., :o ~abine River at Logansport, 192 miles, and c,oimects there wtth a line to Shreveport, La. The company had a Texas land grant of 1~1 240 acres for eaon mile constructed and equipped. Bonda issued to me extent or $7,000 per mile first mortgage and $5,000 per mile second mort~age but the 2d mortgage bonds were not sold ud are held aa oollaterai for tbe debt due-Mr. Bremond, $750,000. Btook authorized, $10,000,000; 188ued, lfil,920,000. In July, 1881), M. &. Howe waa avpointed reoeiver. Interest: le in default, and several propo8lt1ons have been made ro bondholders. See V. 44, p. 244; v. 46, p. 352 and 609; v. 47, p. 200,381. In 1887 gross earnings were$364,• e,.o; net, $106,446. (V. 45, p. 792; v. 46. p. 352, 4.13, 609, 6ao; v. 4!1, p. 188, 200, 381., 744:.) Boua&oll & Texa• Oentral. (Bu map of Sotttlurn Pacifte.)-Owns bom Houston, Tex., to Red River City, Tex., 345 miles; branches -H.flJlll>81;ead, Tex., to Austin, Tex., 118 miles; Bremond, Tex., to JloM, ~ex., 57 miles; total operated. 520 miles. Texas Central RR. c,ompleted from Ross to Albany, 177 miles, witll branch, Garrett to Bobert:, 52 miles, is operated in connection with this road, but accounts are separate. The company ha.a a land grant from the State of Texas et 10,2-10 acres per mile, amounting to about 5,250,541 acres, of which, _A-.g. 3~1 1888, 2,5221 620 acres remained unsold; but the lands are JIO$ on me line of the road. Mr. Morgan, of the Louisiana Steamship Line, bought a controlling interest in the stock, and w l<'eb,, 1883, the Southern Paoitlc party purchased this interest ($3,98"'>.500 of the stock) wtth their purchase of tile Morgan property. Total stock is $7,726,900. In February, 1885, B. G. Ular.k: and Chae. Dillingham were appointed reeelvel'8. Salei}f the road was made Sept. 8, 188~, to the reorganiza.don committee (see V. 47, p. 327J and under the proposed plan of reor. pnization intereat ohar,11:es wi 11 be about $960,0UO per year. All 1-he existing . mortga,ges to be foreclosed and a new company orga.nlled. The first Ill6rlgage bondholders or all the divisions to receive $50 per bond bonus in cash and payment of ba k Interest up to July 1, 1887, and new five per ceut 50 year gold bonds secured by a single mertgage on the entire railroad aad the lands now covt red lJy the existing first mortgages. Toe consolidated or second mortgage bondho1ders to receivt, $180 pel' ltond in 6 per cent debentures and new m per cent gold bonds drawl g tnt.erest from October 1, 1887, secured by a second m urtgagt'. T ..tt:l ganenl mortgage bondholders to receive ntiW gentral mor~11ge gold hoods ooaring four per cent interest from October l, 188,, ana $120 per f;ond 10 four p ?r cent debi!nture bonds. Th0 g~neral mortga~e ts te oover the entire property and ts to be further secured by tht:l clepostt witll its trnetee of 1,149 of the new second or consolidated mertgage box:ds. AJl mortga·ges to be gua.rant-eed by the Southern https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .... ··,rg. .... $732,500 . ......... 2,360,300 . 2,230,000 M. &N N. Y .. Farmers' L.& T.Co 300,000 Bridg~port, Office. J. & J. 6 100.000 A.. & o. do do 4 300,000 A. & O. do do 5 200,000 J. & J. do do 5 1,344,000 Last coup'n pd.May, '86 1:000 M.&N. g. 1,000 750,000 J. & J. 1,000 6,154,000 Last paid July, 1885 7 g. J. & J. 1,000 2,271,000 7 g . .J. & J. Last paid July, 1885 1,000 1,140,000 J. & J. Last paid July, 1885 1,000 3,980,000 A. &O. Last paid Oct., 181:14 4,325,000 1,000 6 fl, A. & O. Last paid Oct., 1884 fO 3,354,700 2¼onpfd J. & J. Philadelphia, Ofhoe. 500 416,000 do do 7 g. A.. & o. 500 367,500 do do lg. F. &A. 1,000 1.497,000 A.. & 0. de do 100 40,000,000 219 M.& 8. N. Y., 214 Broadway. 100 10,000,000 J. & J. do do 2 £200 2,500,000 6 g. A.. & o. London. £200 3,850,000 5 g. A. &O. London,Morton R.& Co. £200 1,000,000 do do 5 g. J. & D. 1,000 1,500.000 4 J. & J. New York, 214 B'dway. 1,000 2,496,000 31g g. J. & J. do do £200 5,000,000 319 g. J. & J. London,Morton R.& Co. 1,000 1,600,000 J. ~ J. 6 N. Y.d. 214 Bro'toway. 1,000 968.000 F. &A. 0 5 500&c. 10,500,000 4 g. A. & 0. do do 1,000 1.480,000 do do A. & 0. 8 1,000 1,397,000 M.&N. do do 7 1,000 80,000 do do J. &D. 6 1,000 15,037.000 do 5 fl. .J. & D. do $100 100 1,000 500&t1. 500&!'. 500&c. i i g. g. --· ........ Nov.. "i," .i&S'I July 1, 1889 April 1, 1910 April 1, 1910 Jnly, 1889 1898 Jan. 1, 1913 July 1. 1891 July 1, 1891 July 1. 1901 Oct. 1, 1913 April 1, 19!a5 Ja.n. 28, 1889 Sept. 30, 1890 Feb. 1, 1895 April 1, 1895 Mar. 1, 1889 Jan. 1, 1889 April 1. 1895 April 1, 1903 Doo. 1, 1906 Jan. 1, 1961 Jan. 1, 1951 July 1, 1950 Jan. 1. 1898 Aug. 1, 1921 Apifl 1, 1959 Oct. 1, 189Q Nov. 1, 1897 .lJeo. l 1907 june15, 1951 Pacitlo Co. The new stock 1~ to be $10,000,000 and the old etookhold• er~ may pay a cash assessment or (7) per oent, and receive their pro rata share of the new stock. The followiug is tile statement of earnings, betterments, interest charges, &o., for folll' years. . EARNINGS, EXPBNSES AND 0HARGES FROM 1884 TO 1887 INCLU8IVB. 1884. 1885. 1888. 1887. Gross earnings ........ $2,547,8!7 $2,739,916 $3,080,796 $2,896,999 Expenses- Operat'g. incl'g taxee.$1,5 78,190 $2,052,377 $2,311,205 $2,301.502 Extra.oratn'yrep's, &o 549,699 77,192} 78 , 834 216, 363 Equipment............ 92,221 82,989 Total.. .............. $2,220,110 $2,212,559 $2,390,039 $2,717,865 Net earnings .......... $327,737 $527,356 $690,757 $179,134. - (V. 45, p. 437,642. 727, 792,820; V. 46, p. 191,289,537,673,609 v. 47, p. 50, 327, 744.) Huntingdon &: Broad Top.-Owns from Huntingdon, Pa. to Mt. Da.llas, .Pa., 45 miles; brano.nes-Shoup's Run, 9 miles; Six Mlle Run, 4 miles; and Sandy Run, 3 miles; Lo~s Run Br.• 3 mfie8 • total operated, 64 miles. The capital stook is $1,369, 100 common and $1,985,600 7 per cent pref. stool!; par, $50. There were also, Deo. 81, 1 ~87, $99,966 car tru.sts. Dividends on \>referred stock sinoe 1883 bave been: In 1884, llg per cent; in 1887, 1; 10 1888, 5; in 1889 to date, 219. There ts outstanding $121,181 of 7 per cent scrip due December, 1889. In 18~_7 gross ~3:rnings $435,426; net, $260.421'>. In 1886, g1'088, $379,8,5; net, $222,736. (V. 46, p. 190.) Illlnol• Oentral,-(See Map. )-LINE OF RoAD-On Doo. 31, 1887, the mileage was: Chica.go to Cairo, 365milee; Ea.st Dubuque to Central lia, 341 miles; C. St. L. & N. 0. RR., Cairo, UL, to New Orleans, La., 547 miles; branches-Otto to Normal, m., 79 miles; Buckingham to Tracy, Ill., 10 miles; Kempton Junction to KankaKee June., Ill., 4.6 mile&; Gilman to Springfield, 111 miles; Park Site to South Chica.go1..! milfls; Cllampaign to Havana, with branch Monticello to Decatur, lw miles; West Lebanon, Ind., to Leroy, IlL, 76 miles; Durant, Miee_.1 to Aberdeen, Miss., 108 miles; Jackson to Parsons, Miss., 115 mues; Schula to nurant, Miss., 24 m.; total owned and operatPd Dec. 31, 1887, 1.953 Jillles. Also controls by ownership of nearly entire atook Dubuque & Sioux City, 524 miles; Ceclar Rapids & Chicago, Manohestel', I a.., to Cedar Rapids, 42 miles. On Oct. l, 1887, the Dnbuque & Sioux City and Cedar 1''alls & .Minn., and the Iowa Falls & Sioux City, leasecl roads, were surrendered, and thell' earnings no longer ino!u<ied in the Illinois Central's. ORGANIZATION, LEASES, &c.-This company was chartered 1n December, 1850, and organized in March, 1851. The lands granted wen upon the condition that the company should pay to the Btat.e 7 per cent of gross earnings yearly in lieu of taxea. The leased lines m Iowa were a.cqmred in 1887 by purobase of a. controlling lnt.ereet bl their stoclr. The company acquired a controll1rur inwrest in the Ohle. Bt. Loll18 & New Orlean.s Rallro!Ml, and leased U lrom July 1, 1882, :for 400 years, at 4 per cent per annum on stock, and is6ued the above 4 per cent leased line stock in exohallge for the Chic. St. L. & N. o. nook. F.18cal year ends December 31. Annual eleotion held in Maroh. 8TOCKSANDBmms-The4and 3-'sper oente due in 1951 were 18aDN under the main line mortgage of '74. On the Chio. m. L. & N. 0. tile leeaea guarantees the principal and htterest of all the outstanding bonds prior to the 5 per cent bonds, and by an endorsement on the latter bona guarantees the payment of the interest on the eame until ihe prinolpal is paid. Of the flret mortgage bonds, $541,000 are a :,rior lien oa that portion of tile road in Tennessee. The trust bonds of 1886 are secured each on"' by a deposit of a $1,000 bond or the Chlo. St. L. & N. 0. consol. 5 p. o. mort. and tlley also have the-agreement that they eball be secured by any future mort. tbat may be issued on the m. Oem;. lineL The collateral trust bonds of 1952 a.re for an authorised amount of $15,000,000, and stoured by pledge with the U. S. Trust Co. of N. Y. of $16,350.000 5 ver cant 1st mortg. gold bonds of subsidiary railroads as follows: Canton Aberdeen & Nashville, 88 miles, llH,750,000. Yazoo& Miss. Valley, 140m., $&,800..t~0; Chicago Havana & Weatern, 13lm., 2,500,000; Rantoul, 75m., l,uou,000; Oedar Rapids & Ohicagt); 42m.; $-S30,000, Cherokee & D.1okota, 155m., $3,100,000; Chio. Macll• son & Northern, 225m., $4,370,000; total, 850 miles; $l6,350,000. Dividends paid since 1870 have been: In 1871, 10 per cent; in 1872, 10; in 1873, 1~; in 1874, ~; in 187~ 8; in 1876, 8; in 1877, 4; in 1878, 6; in 1879, 6; m 1880i6; lil 1881, ·,; in 1882, 7; in 1883, 8 and 17 per ceut in Chica.~o St. ouis & New Orleans stock, exchangeable lor lea.Eledlinecertiftcates; lu 1884, 10; in 1885, 8; in 18136, 719; in lb87 and l 88tl, 7; in 1889 to date, 2 ¼. Pri008 of stock yearly have been: in 1871, 132@139¼; in 1872, 1Ul1H40; in 1873, 90 't»l26lg; in 1874, OOiJ10819; in 1875, 88¼ '@106.lg; in 1876, 60 7eiH03~; in 1877, 40191)79; in 1878, 7238@87; in 1879, 7914@100~; in 1880, 99lg@1273e; in 1881, 124.'it 146¼; in 1882, l:.17~@15019; in 1883, 124'lbl48; in 1884, U0iH40; in 1885, 11911,@140; in .i886, 130@143.lg; in 1887, 114~138; in 1888, 113@ 12.:i¼; in 18ts9 to Jan. 18, inclusive, 114~@116~. OPERATIONS A.ND FINA.NCES.-The company, I() extend its buetneq, acquired the line from Callo to Sew Orlean.8, and invested largely bl improving the property, and in 18~7 aoqlliroo the leased l1n.ei 1n Iowa by purollaee of illeir stocr:r-,. INVESTORS' SUPl>LE.ME.NT. LVoi,. XLVIIl. Sab•tlrlber• will conter a gt'eat f'avor by giving Immediate notice ot any eW"ror dlscove.teld In the•e '.t'able•. Bonas-l'rmo1" DESCRIPTION. rNTEREBT OR DIVIDENDS. Miles Date Size or pa1,When l>ue Amount Rate par When of par For explanation of column headings, &c., see notes of Where PW:ble, and by Stocks-Last Outstanding on first page of tables. Road. Bond~ Value. Cent. Pay'ole om. Dividend. -- ----- $500 ft St. Louis-1st mortgage ..••...•...•..... c19 F•75 Venic~ & Carondelet mott., guar ...•............ c• 6 1880-2 1,000 1,000 Indiana Illinois cf Iow~lst M. bonds. extended .. r 120 1882 500 2d mortgage ......................... ~ ...•....•... r 120 1883 lndianap.Decatur cf Weste1·n-T.D.& Sp.1st M.,g.s.f. 153 1876 1.000 1,000 1st M.,for $1,942.000, g., ($1,800,000 reservtd).c 153 1888 1,000 2d M., (incomenon-cum. till Jan., 1893) ..•....•. c 153 18Q8 1,000 Income bds.,non-cum., drawn at 100 .••..••...•. r 153 1888 1,000 72 1869 Itid,iana/o:otis iJ St Louis-lat mort., in 3 series .... c 1,000 Mort or $2,000,000, gold, (end. by C. C. C. & I.)c 72 1882 lM.ianapolis cf Vincennes- l Rt mortgage, guar .... c 117 1867 500 &o. 1,000 2d mortgage, guaranteed Penn. Co ..•...•...•.... c 117 1870 1,000 Iowa <.e1tt.-lst M. for$7,(i50,000, $1fj,000p.m.,g.c* 510 1888 Ithaca ..4 uburn cf West.-lst mort. (for $500.000> ..•. 3819 1876 100 &c. 100 &c. 2d mort~af!e ......................................•. 38¼ 1877 1,000 54 1880 JiaeksontriUe Southeastern-lat mor.:gage .....••... c .. 1,oon General mortgage ......•....................•. : .. c* 112 18-.2 1,000 Chic. Pf'Oria & 8t. L. RR .. 1st M.,($12,500 p.m.lc* 120 1888 l,UOO Litchfield Carroll. & W . RR .. 1st ($10,000p.m.) o* 52 188R 1,000 17 18><7 Louisville & St. Louis RR. Co ... ................ c* 1,000 Jacksonf!ille Tampa & Key Wed--lst,gold.rtd.at 110 130½ 1884 1888 Collat. Tr. loan on Fla. So. stock and bonds. .• 1:000 Je.(ferson (Pa.)-lst & 2d Ms. exten. (Hawley Br.Le 9 1867 1.000 1st mort., refunding . . . . . . . . . . . . . . . . . . . .. . . . c* 37 1889 1,000 Jttl 'tJilleMad.cfind .-lstM. (s.f.$15,00u,dr·natl lO)u 159 1866 1,000 2d mortgag-P .. ................•..•........•..•.... c 159 1870 J,erse:y Oity d! Bergen-1st mortgage .............. . . c 1,000 1873 ·-·· 1,000 Joliet & Norlhernindianu-lstM. ,iruar. by M. C ... c 44 1877 1,000 3·6 1882 J• 1 ~1.etion ( Philadelphia) .-1st mort. (extended) ..•. 1,000 21 mortgage ..........•.......................•.... . 3·6 1865 1,000 K anawha d! Ohio-ht m"rt. ($10,000 p. m.) ..•... c* 129 1886 1.000 Kansas Central-1st Mort .. ......... . .. . ........ .... 168 )8--1 1-.,t :>..: ] ,\ 1 1 P/10 ~anrtCIS Oity Relf- l f't (~-1~n.01 0!?'ll, K f1 F ~ ,v-t-ll _,, .. Illinois I $20" ,0(0 300,000 600,000 40 ·,000 1,800,000 142.000 1,213,000 795,<,00 2,000,000 500,000 1,700,000 1,450,000 5,900.000 400,000 498,090 300,000 1,115.000 1,500,000 516.000 '247,000 1,566,000 (1) 300,000 2,80J,OOO 2,5:~ ~.ooo 1,995,000 258,000 800,000 425,000 300.000 1, 17!-1,000 l.'-',t~.000 7·0,000 ---J. 8 6 6 6 7 5 5 10 7 6 7 6 5 & D. Various M. &N M.&N. g. A.. & 0. g. A.. & 0. g. J. & J. Oct. 1 Various g. M.&N. F. &A. M.&N. g. J. & D. J. & D. J. & J. J. & J . J. & J. 5 g. M. & 8. g. J. & .T. A. & O. 6 g. J. & J. 3.4.419 419 & 6 J ..&.. J. 0 g. A. & O. 7 A. & 0 . J. & J. 7 .J. & J. 7 J. & J. 7 4¼ J. & J. R A. & 0. 6 g. J. & J. ti A. & 0. .T. & J 6 4. (7) 7 6 6 g St.Louis, Boatmen's Bk. June 1, 189 5 do do 1900-'02 At '\\ill, Nonepa1d. Nov.15, 19Q3 N. Y., 1st Nat. Bank. Jull l, 1906 New York. Office. Oc. 1, 1947 1st coup. due JuJy, 18. 3 Jan. 1, 1948 Drawn at 100 .S. Y., Union Trust Co. July 1, 191, do rlo Nov. 1, 191 N. Y., Farm. L. & T. Uo Feb. 1, 190 1fo do May 1, 190 New York City. June 1, H3 June, 1888, last paid. Dec., 1906 Never paid. Jan. 1, 190 N. Y.Am.Ex,.l:Sx.& Phila. July 1, 191 do do July 1, 191 do do Mar. 1, 19~ do do Jan. 1, 191 do do Oct. 1, 1927 N. Y. Mercan. Trust Co. Jan. 1, 1914 1898 Phil., Fid. In. Tr. &S.D. July, 19"27 N.Y., N. Y. L. E. & W. RR. Jan. 1, UH, 9 N. Y., Farm. L. & T. Co. Oct. 1, 190 ti do do July 1, 191 0 Jersey City. Jan. 1, 1903 N. Y., Farm. L. & T. Co July 10, 1907 Phila., 233 So. 4th St July 1. 1907 do do April 1, 190'l N.Y,Homans&Co,2Wall Jan. 1, 193 ~ Oct, 1886, last paid April 1, 191 1 Ro'-'ton. 2ti 8,.,ar,' ttld<r. Jul.v 1.. 191 6· N. Y.,Lockw'dBroa.&H. For 1887 the annual repor~ was in V. 4f, p. 3G8, 380, 3:32. The profits Division and branches was madl'I ~ept. 17, 1887; of the mam line Nov of the whole ltue are 111.wwn m the figures below: 9, and o~ the Illinois diyision March 1,7, 18~~- Trustee of 1st mortgage Ol'EBATIONS AND FISCAL RESULTS. Mercantile Trust Co. Common BLOC.Ii 18 $8,600,000; preferred, $5,oOU. 00<'; par of both, $ tOO. ' 188~. ~885. 1886. l8 'Vi·. From Jan. 1 to Nov. 30 in 1888 111 month.'-) gross earnings wel'e 2 -i66 2 ~ 49 Road oper. Dec. al.· 2-i~6 Z.:-~ 5 5 $1.257,6u4, against $1.218.014 in 1~87; net, $81,502, against ,fil4.4,053. The tlscal year ends Dec. 31. The mcome account nas been as follows: 2 _78 408 2 , 85 ~, 4 29 2 , 5 w, 632 2 ,749 ,940 .Freight............. 7.902,043 8,143,!-12 1 • 8,332,151 ~.034,863 INCOi\1El!~g~UNT. _ _ 1886 1887 1 62 26 017 9 1 538 850 5 7 7 Mail, express, &c .. · · , o ~ .~t , 1t • Gross earnings............ $1,307,371 $1,323,625 $1,352,526 • • Tot.gross earnings. 12,190,833 12,621,26,t 12,529,494 13,5-t6,288 Net earnin~s. .•. . ..• . . .. .. $323,894 $171,196 $174,3i3 Ope1atmg eJ<penses. 6,128,512 ti,6:.i.6,6:L!) 6,540,7v4 7,310,941 lnt.on IJonds , oar trusts,&c 563,687 720,275 f, p!~~;:!:~~~. ....... ___:·'.7 Ntt earnings....... f,062,321 5,994.63:5 5,938,7!l0 6,'.l35,347 P.c.of op.Pxp.toearn 50·27 52·50 52·2o 53·97 • E.li.cludin~ rentals and taxes. -(V. 4-5, p. 14.2, 509; V. 46, p. 368, 380,382,771; V. 47, p. 327.) Illinois &: St. Louls.-OwnR Belleville to East St. Louis, ru., 15 miles; u1auches to coal mmee, 4 miles; total ownea, 19 miles; leases Venice & Caron. RR., 6 wiles /a.ud guarantees the bonds); total opt-rated, 25 mileE. Capital stock, ~900,000 preferred and $tH 7,000 common; :raw:. $100. lu year endmg Juue 311, 1887, ~ross earnings were $204,406; net. $9~,247; surplus over all interest, $48,984; iu 1887·8 gross were $2~5,50,; net, $103,176 ; surplus over fixed charges, $57,ti98. Jos. W. Branch, Prt:sident, St. LouiE. Indiana Illinois &: lowa.-Completed and in operation from l!!ltreator. Ill., to Knox:, Ind .. 120 miles. Stock, $3,598,000, par$l00. Hoh:lt,r.:1 or .t11·bt 1llu1 t. uuuds <.lue Nov., '87. agreed to an extension, subject to call. Iu ,ei:lr 6uoing June 30, 'rl7, gross earningswere$188,701. net, $,2,1<93; surplm1 over cbar11es and improvements, $1.052. Gross in 1887-8. $110,659; net, $28,866; deficit under tlxed charges, $31,606. F. M. Drake, President, Centrnville, Ia. .Indianapolis Decatur &: We•tern.-Owns from Indianapolis, Ind .. to J>ecatui-, ill., 153 miles. It is contemplated to extend the road weat,ward to a connection with other important systems. This company is successor to thP Ind Der. & 8p1ing. RR., sold in foreclosure May 25, 1887. Tbe capital 111tock is $1,000,0C10. Of the new 1st mort. bonds, enough are rest1·ved to 1 etke the old I.D. & 8. lsts, which are sutijeut to a sinkiug fond of $40,000 yearly, dependent upon earnings. The 2d mort. 5s are n on-rumulati\'e income I.Jonds lor five years, interest payable only if earnings more than suffice to meet prior interest charges and sinking fuud payments of Ind. Dec. & Sp. bonds. Trustee of 1st and 2d mortJ?ages, Farmers' Loan & Tmst Co. 'i'he income blinds are also subject to said sinkmg fund charge. N. Y. Otti<-e, 'l Wall st.-<V. 45, p. 239,272,856,886; v. 46, p. 38, 40-1, 449, 53t; v. 47, p.626,708.) Indianapolis & St. Louls.-Owns from Indianapolis t,0 'l'erti: Haute, lnd., 72 miles; leases jointly St. L. Al. & T. H. main line, 198 miles; total 265 miles. On July 28, 1882, tbe road was sold in fore• olosure for $1,396,000 (subject to 1st mort.) and bought for Clev. Col. & Ind. Co. and a new company organized September, 1882. Mr. J. D. Layng is the Presiden~. A _new lease was made of the St. Louis Alton & Terre HautP by which this company and the Cleveland Columbus Cincinnati & Indianapolis are jointly liable for the rent of $450,000 per year as a. minjmum. Of the ti.rst mortgage bonds series "A" are .T. & J.; series "B." M. & 8.; series "0," M. & N.; and the C. C. C. & I. Rlt. guarantees $750,000 o:f them. Stock, $500,000 (par, $100), the voting power being held for C. C. C. & I. There has been a large deficit on the company's operations after deducting the rental. Net earniugs in 1887 were $538,338; rental paid, $4,50,000; interest on bonds, $170,000; miscellaneous, $126,075 : total. $746,075; net loss to lessee in 1 887, $207,737; deficit in 1886, $324, 999. The road is only iucidentally of ai.lvautage to its owners as a route to St. Louis. Operations and earnings for three years past were . :Passeng1:, F1·eiglit (ton) Gross fieL Years. Miles. Mileage. Mileage. Earnings. Ea.r-ningi-, 1885......... 265 20,5116,678 216, l21,867 $1,855,903 $l49,249 1886......... 265 21,017,157 177,844.,516 1,876,495 44-1,513 1887 .•....•.. 265 25,118,045 205,617,923 2,237,551 538,33:l Indlanapoll• &: Vlncenne•. -Owns •from Indianapolis, Inrt ., to Vincennes, Ind., 117 miles; branch, Bushrod to Dugger, 12 miles: total, 129 miles. The Penn. Co. owns a controlling interest in the stock and operates the road, advancing the deficiency to pay interest on the bonds. The napital stock is $1.402,000; par, $50; due Penn. Co. Dec. 31, 1887, $1,758,308. in 1887 deficit under expenses, $20,828. An• nual interest on debt, $206,000. Iowa Central.-Owns from Albia, Ia., to Northwood, Ia., 189 miles; Oskaloosa to Iowa Junction, 184 miles; Grinnell & MontezUilla Branch, 14miles; Story City Branch, 35 miles; State Centre Branch .. 8 miles; Belmond Branch, 22 miles; Newton Branch, 28 miles; 1ot3J owned (and covered by mortgage), 510 miles; leases Mauly Junct10u to Lyle, 20 miles and tra<:k1111t Mississippi River, 3 miles; trackapt>. Iowa Junction, m., to Peoria, Ill., 3 miles (ltases to B. C.R. & N. RR. Co., Manly Junctiov to Northwood, 12 wilts): total operated, 52 7 mtles. Chartered as Central RR. of Iowa and opened in 1871. Reor~ anized as-Central Iowa June 18, 1879. after f01•eclosure sale under firi,;t tnortgllge. In October, 1884, default was made in payment of interesr, and in- 1888 company reorganized 11nrler pre-·ent title according to plan stated in ClIBONICLE, V. 44, p. 653. Foreclosu te sale of the E astern Cin. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Balance.................... Def. $239,792 Der. $549,u79 .•••.••• -(V. 4.6, p. 19:1, 228,371, 6-19; V. 47, p. 531, 663,745; V. 48, p. 70.> Ithaca A.uburn & Western.-Owns from .lt'reeville to Auburn N. Y., 38 miles. The New York & Oswego Midland RR., Western Extt'n: sion, was sold in foreclosure, and th1s company or.1 rauized Sept. 20 1876. TLe stock is $975,800. Leased in 1883 to Su. Cen'iral, a"'. rentai of 331:1 per cent of pross 1-ar!lings, with a ~an~utee of 4 per cent on 1st M.; but in Jan., '89, th:s lease was forfeited by failure to p ay r ental .Jack•onvllle Sontb.eastern-(See M,:ip)-Owns rrom Jacksouv1llt, to Centralia, Ill., 112 mile1:,; Chicago Peoria & St. f.,ouis Railway (Pekm to Jacksonville aud Uavan • t.o 8pri11gtldd, Ill:!.) UW miles; Lou1aville & St. Louis Railway (Centralia. ti,) Drivera> 17 miles. Lea.ses J:>e,kin to Peoria 10 mil6B; Drive.rd to 1\fr. Voruou 5 miles. Operates Litohtl. ,H Carrollton & Western RR. (Barnett to Columbiana), 52 miles. Total 316 mile;;i. J., C. W. RR. wa• acquiroil D ec., 1886, e. P. & St. L. Ry.; Feb., 18!:!7, L. & St. L . .Ry., D3c. 1887. Ec1,mmgs on thd l'y,-tem for year anct.ing June 30, 1837, mo3tly from the main line, were 'tl'O .. s; $287,475; net, $102,184; intereot on debt, $71,807; surplus, $30,3 7. For the Chica.go Peoria~ St. L. R'w:'.l.y. from Feb. 1, 188~, to Oct. 31. 1888 (9 mos) ,uoas earn',;i were $244,:rn-;-; net, $101,646; and in the year ending Feb. 1, '88, gross earnings were $287,543; net, $119,163. 8. Hook. Pres't. Jacksonville. Ill.-(V. 47, p. 107, 353.) .Jacksonville •.rampa &: Key West.-(See .lfap)-Ltne of roatt Jacksonville, Fla., to Sd.ntord, 120 m.; Enterprise branch, 5 m. Del1:1,nd branch. 6m. Le"'8t'B A.t. Coa:it St. Johus ,It.I. R., Euteror.se to Titusville, 37 m.: Flol"ida Southern (3 ft. gauge), Palatlia, Fla., to Gail.,es,. ville, 50 m J Rochelle to Leesburg, to Brookville, 106 m.; BaTtow to Punta Goraa, 81 m; Leesbu g to &stor, 50 m .; other IJrauuhe•, 23 ru.; total. 310 m.; St. Johns R'y, Tocoi, Fla., to St AUJ?mtine, 15 m; St. A~gustin~ & PalatkaJm1ction RR. Junction ..Fla.., to Palatka, 23 m '. ; St. Johns & Halifax RR.,_Pa.latk,i., F1a, toD,1,vto.n_::i, ~2 w.; other milea~<-', 11 Ill.; operatesJackaonville, St. Augu ,1mti & Hahfax, 37 w.; i::,a,nford & Lak& Eustis RR., San·01·d to Ta.vares, 29iu.; tota.l oporatei, 65l wile&. This road forms a link iu the Atlantic Coast li..ie ruuniu!' frnm Jackaouville to Sanford. Florida, and via South Florida roa.J. tu Tami>a, whence steamers run to Havana.. The road was opened )larch, 18::!6. The land grant is about 1,500,000 acres. Tbti Lonas ma.y be redeemed before ma.turity at 110. Stock is $.!,ti00,000. Iu October, 1888 an imuort:a-nt agreement was made for control of the Flori,lu. 81.)utllern on J ttn"uary 1. . 18!:!9, and the issue o:f a collateral trll8G loan on that Uompany'a sto kand bonds. This loan will bear 3 per cent intet·esli tor two yeal's, 4 per cent for three Jears and 419 per cent for five years. See V. 47, p, 531 . In the year ending Dec. 31, 1887, the gross earnings were $450,669,; net, $130,127. N. Y. offlce. lOWallSt.-V.46,p. a20, 573; V. 47, p. b3) .JeWerson.-Owns from Susquehanna Depot, Pa., to Cflrbondale, Pa. 37 miles; branch, Hawley, Pa., to Houesdale, Pa. .. 8 miles; total, 45 miles. Leased in perpetuity to the N. Y. Lake Erie & Western for $140,000 per annum for main line and$ L5,90) for branch. The mortgage of 1888 -provided for 1st M. 7s and for double-tracking 37 miles. The Hawley branch 2ds, $96,000, due in 188 .1. wne extended at ti per oent. Capital Rtock. $2,096.050; par $50. Samuel Hines, President. Scranton, Pa. (V. ,j,6, p. 708; V. 47, p. 745.) .Jeff"ersonvllle Madison&: Indlanapolls.-(See Map of Pennsylvania RR.) -Owns from Louis Yille, Ky., to Indianapolis, Ind., 111 miles; branches-Madison, Ind., to Columbus, Ind., 45 miles; Colrun~ bus, Ind., to Shelbyville, Ind., 24 miles; Jeffersonville, Ind., to New Albany, Ind., 6 miles; Shelby & Rush RR .. 18 miles; leases Cambridge Ex tension, 21 miles ; total operated, 225 miles. The roa.d was leased to .. Pennsylvania Company from 1873, with a guar.i,ntee of interest on bonds and 7 per cent on stock. Lease was modified from January 1, 1880, the lessees to pay o'°'er all the net earnings of ~he J. M. & I. proper. The stock is $2,0l>O,OOO, and the Pe1msylvania Co. owns $1,981,600. Sinking fund, $15,0 uO yearly, draws 1st mort. bonds at 110. In 1887 groi;s earnings wero :Sl,582,14 i; net. $408,996: rental. $3b9,R36; surplus over fixed charges, ~83,0:32; profit to les:1ee, $ill,· 160. (V.47,p.410.) .Jersey City&: Bergen.--Ownsfrom JerReyCity to B e1•1r1:10 Point, N. J .. 2~ miles. In 1887 gross earnin""B, $473,615; net, $:38,2 77; surplus over charges, $25,190; dividends (9 p. c.), $45,00J. In 1886, ~oss, $411,062; net, i,102,384. Stock, $500,000. Dividends 7 per cen\ m 18d6 and~ iu 1887. C. B. Thnr,;ioon, President, Jersey City. .Jollet &: Nor1hern Indlana.-Own;i from Juliet, Ill., to Lalt~ station, Ind., 45 miles. Uper,tteu as p ,11t of the M:ichiga.u Central main line. Road opP-no•l iu 185-1 and leaseLI to tne .Micll. Ceut. Stock ($300,000) ca.rric:i c(l\·if.Jenl.s or d ;.,or cent per anaum. w. JANUARY, 18€1 ] RAILROAD STOCKS AND BONDS. MAP OF THE RAILWAY & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 63 64 INVESTORS' ~ UPPLE~IENT. [Vo1, XLVlll. c========================= ======================= https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE JACKSONVILLE SOUTHEASTERN LINE, • COMPRISING THE JACKSONVILLE SOUTHEASTERN RAILWAY, CHICAGO, PEORIA & ST. Louis RAILWAY, LITCHFIELD, CARROLLTON & WESTERN R. R. LOUISVILLE & ST. LOUIS RAILWAY. - .J.umARY, 1889] RAILROAD STOCKS AND BONDS . Subecrlben w-111 cont"er a great t"avor by giving Immediate notice of" any error dlaco-Yered In thette Table-. DESCR[Pl'CON. _. _ ~leJ Da~ Size, or .A. ou t 1Nt,E&li:8T OR DIVtoENDS. ::I~~~~ For explanation ot column headtoga, &c.,see notes of ·or Pa.r Outs~an:mg Ra•e per When twnere P.t.yable, and by Btoe.b-Lall& on flr,-t page or tables. Road. Bonds. Value. · CenG. P.yable Whom. Dividend. ------- -- --174 Kamas Olly 0U11,1on fl Spring.-lsL M., gold, guar. Pleasant Hill & De So10, lsti mort, gold ..•..••• •. Kan.O.Fl.S.cfMern.-Stock($2,749,7001!!8 p.c.pref.) do C,m~. M ($25,uOOp.m.)notdr .. o· K. O. F. 8. & G. 1st M., laud grant, sink. fund.c• rlo Mort11:a.1es i,:uar. (,1r. ati 110) ... c• do Kan & Mo RR ..•............• :c* do 1 ·f'n•ye-:ir coupon notes .. .• ....... Kan. City~. &M.Plain b'ds (red'blA at 1Q3), guat·. Current R1 RR., lsti rnort. $..:0,00, p. m. iruar .. Kan. u.Memph. d Bir.-lst M. (dr11own atllO). o· do Bir. eqnip gnar. (redeem. at 105) Kan. a. Wyand'ell; .v . w.-M.$19.00u p.m.,g.,$&£ c* Kentucky t,entt·at-Covington & Lex. mort., t,Xtend. MayRville & Lexington RR. mortgage ....•••...... New mort,g-age, i,:oltt ..........•..••.......•....••. c* Kentucky U1tion-lst mort. for $3,000,000 .••... c• Keokuk cf .r>,,s Moine,1-lstl\1 ,lnt.guar. o . R.I.&P.c* Keokuk d Weslet·n-Co,umon sto ·8 ••••••••••••• -• •••• Zings v,,unty Eleva,ed-lsti M., g., $550,000 p.m.e* 2dmort. (:il7,01 0,000), $i50,UOO p. m .••..••.... c* Kingston & Pembr ,ke-lst morr. (redet-m a,t 1051 . .LacJcawunna & PWsf>urg-Mortg. (for $2,000,000). Income bonds . • • . . . . . . . . . • . . ...............••.. Alleghany Cent., 1st mort., gold, payable at 105. do 2<1 M., "· & income M. not cum .. LakeErie.Alliance<f Soutk.-:ist.\1.for $1.250,00G o* Inc. bonds, non•cum .. g. (rtd. after '97 at ll,6) .. c* Lake Eru ti Western-Com. stock, $20,000 per mile. Prete~d stock, 6 p. <'. (not cuw.) (;f;!0,1.,00 p. m.) let mortgage, gold ($10,000 per mite, .......••... -·- - - - -- - - ------·-- --- ----$3,192,000 5 g . .1.. & 0. Boston, Meroh'sNat.Bk, 1885 tl,000 45 lo77 500 7;')2 100 1,000 671 160 187~ 100 &o 202 '80 -'84 1,000 26 la82 1,000 isss 81 276 114 80 49 2,0 i62 172 is:4 l887 1887 1~88 1888 1,-5:, 1876 1887 1888 187d is95 l1j88 BS:! .62 62 60 60 1;92 592 592 is~s ! 1881 18 ~2 1887 1887 1:ci"o 1,000 100 &o. 1~000 1:000 1:000 1:000 1,000 100 100 1,000 .:Junction (Phlladelphla).-Owns from Belmont, Pa., to Gray's Ferry, .t'a., about 4 mildl:I. lti c nnects the Penna., the Phila. & Re:1,di11g and the Phila. Wilmington&_Baltimore RRs., coming into Philadelphia.. Stock $!50.000; par $:JO. Fiscal yoo.r ell(ls Fel). 28. durplu1 over ex• penses aud iut in 1882•:-i, $L:l3,91~; in 1883 4. $130.731; in 1884•5, i,9 5,865; in 1885-6, $131,H2; in 1886--7, :S2r-,0~4; in 1887·8, $107,· 8 28. Large d1v1dends are paid accordin.r to receipts each yeat. In 1884 paid 40 p. c., in 1!::85 20 p. o., in 1886 ;jQ p. c., in 1887 aud 1808 4.5 p. c. Kanawha & Ohio.-Corning, Ohio. to Charleston, W. Va., 129 miles, and to be extended to a pomli in Fayette Co., w. Va.. ii1 all L80 miles. The Ohio Ceut. Riv. Div. defaulted on interest Sept, '83, and was sold Oct. 22, '!i5, and tllis company organized and abov~ bonds issued. Bonds and stock. or old company were a~sei:sed. (See plan, V. 40, p. 3 ' 6.) 5'lll,• 00 1st mort. bonds are reserved to retire the Ohio Cent. Mineral Div. bond~. Common swck anthorlzed $i,200.ouo; 1st .gref., $6,000,000; 2d ·prer. , $4,000,000. Office, 2 W1ill Street, N. Y. .no W. Kdley. Pi·es't.-(V. 4 >, p. 135; V. 46, p. 2L~.) Kansas Central -Owns from Uhio. & I. & Pac. June. to Milton• valti, lt 6 wiles; leased Lt-av,mworth to Chic. R. r. & Pac . June., 1 milP. Bold under foreclosure of tl•·st mortgage April 14, l>:-79. R~orp:anizt-<l April, 187~; "n April 1. 1887, default was made. Gross earniugs in 1886, $217,1373; det. $76,047; def. uuder intere:it, &c., $L59,4U4. Gross earningti in lo87, $1:8,050; def., $33,ult; der. under interest. &c., $114,41:J4. Stock:. $1 ,348,000. Union Pacitlc holds $1,313,400 of the stock and $1,316,000 bond~. (V. 45, p. 5J.) Kansa8 Oliy Be)t.-From Argentine to Washington Parlr, 10 m•les. istock i<1 :i;luo,coo. Owned oue-half hy Atchison Topeka & Santa. Fe and one.quar1er ea.ch by Kaus. City rt. Scott & Gulf and Chic. Mil. & St. Paul. Double•trat·ked and used f c1r a tel'minal road at Kane. City. Kan8as Olty Clinton & Springfi.eld.-Owns from Ced Hr Ju"o, Kan., to Ash U-tOVtl, Mo., 164 JlJlfo<!, a1,d branch to Plefl.aaut Htll, "11),, 10 miles; tc •ta.l, J 74 mile1t, bnti only 163 lillles operated. 1:milt in the interest <'f K. C. Ft. S. & G. RR, which company guarantees the bonds. In Jan., 1!:!85, the Pleasant Hill & 11e Soto roao, 45 miles, was purcha.Red from Atch. Top. & 8. Fe RR . the K. U. C. &. 8. Co. a.Rmmlng the bonds. Stiock authu1ized, $:l,50t ,(,00; par, $100: issued, $1,775,400. or whioil a majority is owned by the Kan. 0ity Fnrt Seott& Me,nphis RR Iu 1887 ~osa earnm.l ls were $:.Wl,675 IJet. $9.1,456; def. under int., $68,738. Kansas OUy Fort Scott & ltlemphls.-Owns main line from Kansas city, _Ylo.,toMeruplliR,'lenu .,4~'i rmlefl,Withbrancle~. 184m; total owned, 67 1. mil~; lAastis-Current River RR., Willow Sprrngs, Mo., to C ,n-o. 81 mile,.; total oper ,t~d, 7.,2 miles. Company formed in April, 1888, by co ,solidation or the Kansa~ City Fon Scott & Gulf and Kansas Utv Sprin~. & Memphis ratlroaµs, the Kansas City Fort Scott & Gulf Cumpnny ba.vtog been organized April 1, 187:--, as succea:;or to the Mlt,souri River Fort ~cott ('It Gulf. foreclosed. Tbe e< ni-olidtt.ted bonds of l8!j8 (lrustee New Eag and Trust Co. of Boston) will rt'.ttre al , the a.lJOVe llunds f xcepti tbo .eon the CurreIJt River RR., 8 l milet-, which is not eovert>d uythe consolidated mort~age. Tbe 1.ma1·a11Wt!d 7 per ceut bonds aue Sept. 1, 1910, are on thti Jollown~ leased liot>s: Fort. Hcutt Sonthf-ast..,ru & M.-mp: is, 103 mUe8, at $16,0ou per mile; .Rich Hill Roa.ct. 28 mile1>, at .fl8,<135 per milt·; St10~t Creek & Jopllu Road, ~2 miles, Ht ~14,~0~ per ru,le; 'l'hese bond8 are guarantet<<l. p, inoipal a.nd interest. a.nd havf'I a siuking fund of 1 per oont of whole l·sue annually, with whlch bonds a.re bought at 110, or, if not offertld. arti drawn at 105; also the bottds of Memphis Kansas & Colora. 10 HR., 26 m1,es, at $15,o. o per mile, without t-inkin~ fund. The Kan. vitiy Spr. & M.-m. Slid tht1 Ka.u. C,ty Fort Scott & G. 1st mort. bonds, sud also the guaranteed bonds or 1910, have mostly been exchanged for the Kao. City Ft. S & Mem. n, w 11rat-i. Tbe Current River RR bonds art- j{Uar.; the,v were issued as per droula.rtu V. 44, p. 246. Dividends , inoe l s.:o have heen: On oommou - it... 1882, 2 per cent; in 1883, 3; in 1884. 51.g in 188 ·, 21£; tn le8o. 4; in 1887. 41.g; in lb8:3, 3~ on preforred-in 1881, 8-½!; from 188.al tu 1888, ioclusive, d. The annual report or Kausa.<1 City Fort Scott & U-ulf for 18!j7 was in V. 4.6, p. 199, i,how1ng the foltowini.r earns. a.nd tno. accouut for four year,s: INCuME AOOOUNT. 1:,::,4. 1885. 1887. 1886. $ $ $ $ Tot£! grnss earnillgs .... 2,422,443 2,~46,525 2,539,338 2,7~2,204 Total net inr.ome ..•..•••. 1,042,145 988,218 l,OtJt:;,321 1,083,262 .Reeeipts- Disburse11, ent.c;- Ioterest on l•onds........ 166,081 162,546 177,236 17~,4.90 Leaae.i lln..,s intert>at . .••• 2U4, t23 213,078 214, 87 215,921 K. C. 8. &M. pr,,portion. 7 • ,212 109,625 lll,477 li13,7o3 Ft. 8001 t equ,p bonds... 102,661 l lti,95 L 10~,'.150 9»,018 429,120 Dividends .•..••• •••••••• "75,576 3 io, 156 405,E8t> Rate p-..id on com........ 5 2 ½I 4 4.~ Do pref........ 8 8 R 8 Sinking fund,............. 21,176 22,300 22,300 22,300 Mi8ceilaneuu.s.... .••...•• ~ ::J, ► 05 . ... Total disbursements ..• l,04ti,il3 9ti4,461 1,.,i$4,::J3v .i,0,6,'>52 Bala.me........ ..•..•••.. def. 4,068 sur. 23,747 snr. 31,99 l sur. 6,710 (V. 46, p 199. 537,678,772; v. 47. p. 140, 352, 708.) Kansas Olty Diemphi ■ & Blrmlngham.-OwnefromMemphis to Btr nituglu1,111, A.la., ~IH m. a ,. d svu1·s ~-'> w.; co1up1ett-d in October, 1887. Bonde tor $25.000 per mile a.re issued. 'l'he New Et11.thmd Trust Co. is trustee under the mort.· abstract V. 46, p. 575. The Equipment https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 1,000 1,0 0 1,000 1,000 1,000 1/00 ~ Oot~ 1, 1 ~ · 7 g. A. & O. d ,, do Oot. 1, lN'r 58,000 l2.!H7,700 l on OJm. F. & A. Bo~ton, 26 Sears' Bldg A.u~. 15, 1888 11,156,000 6 M. & N. Bost., Nat. Webster Bk. .Mav- 1, 19ft 2,247.0 0 7 J. & D. do do June_1, lff8 1,0~."i,O'lO 7 ~. & S. do do S"pt. 1, 1919 390,000 5 F. & A. do do A.ug. 1. 19~ 320,1)00 6 1895 6 M."&·~ Boston . .Nat~.U~ton Bk. May 1, 181U 500,000 5 A. & 0 do do Oot. 1, 19i7 1.638 000 5 M. & 8 Boston, Me.rob. Nat. B~. Moh. 1, 1927 6 ,89~.ooo 714,000 6 g. M. & S. do do Mch. 1, 1908 5 i. J. & J. N. Y., Western Nat. Bk. Jan. 1, 1938 2,871,000 2L9,000 5 & 6 J. & D. '1. Y., Office, 23 Broad. June, 1890 7 J. & J. N. Y., Morton, B. & Co. 1906 400.0UO 1,000·000 4 g. J. & J. N. Y., Office, :l3 Broad. Jnly 1, 198: 6 J. & J. N. Y.,Meroantile Tr. Co. · ,July 1, 1!¥.18 2.500 000 2,7fl0.ll00 5 A. & 0 'i. Y., 13 William stre~t Oot. 1, 1928 4,00!l.000 1 . ... N. Y., John Paton & Co. April 2, 1888 5 g. J. & J. N. Y., A.m. Eir. Nat Bir. Jan. 1, 1921> 1,7.'.JO 000 5 A. & 0. Aprll 1, 1938 6 J. & J. N.Y., R. P. Flower & Co. ,Tan. 1, 1912 572 000 6 A. & 0 Last paid April, 1884. April 1, 19~8 1,642,000 6 . . .. ..•.. .•. .. . A.,ril 1. 1~23 500,000 6 g. J. & J . La.•t pad July, 1981 Jan. l, l~Z 2~1000 6 g. Last pa.ld Oct., 1894 1912 & 1922 9 .'>,0 !O 6 g. J. ·&·J. None paict. Jan. 1, 1917 316 00() 1,6~0,,iOO 6 g. .... . ••. . .•• . . • . Jan. 1, 19 [7 ll,8t0,0UU 11,840,000 5,9:W,000 Co. bonds are guaranteed by the K. C. M. & B., and are r.~doomahle oa 60 days' notice at 105 and intere;it. 'l'ne K. C. Springfield & .Memphis owns half the stock and gives a traffio ~uarantee of 10 per cent ot gr088 earnings derived from busine;is to and. from tile new road, to be applied, ftr, t to the paym~nt of any detlcienoy l u tihe interest, and second to retire the bo ids. Ttle bouds m ·:1,y be dr.1,wu or bo:ight at 110. Sto3k $5,Yati,000; par. $LOO (V. 4'\, p. 472,575; V. 46, p. ~00) Kansas City Wyandotte & N orthwe'.jtern.-( 8ee Map. l-Owos from KausM 01ty to Seneca. l l 7 miles. and branch to Leavenworill, Kan, 15 ruile!!, an1 operates Le:1venworth Rapid Transit Ra.Uway,__4 miles; total, L36 mile•. Road opened tor busine~s February LS, L8mJ, Mortgage of 18-!8 (trustee. Farmers' Loan & Trust Co.) is issRed at $16,000 a mile, with $J.OOO a.1ditiooal for equipmi-nt aud $~,000 for seoond track, witllfurther amount;i for termwals. Stock is $2,600.000: par. $100; car trm1t dellt, $310,267. See. full particulars in CHRONICLB, T. -!6, p. 8~9. N~wman Ero, Vice-President, K11onsas City, Mo. (V. 46 • p. t37d, 819,829; V. 47, p. 21, 709.) Kentucky Unlon.-(See Map.)-Road 10 progress from Lexington. Ky., to H1g ~tone U-ap, 12! miles, connecting witll Norfolk & W srern, Lo11isvllle & Nasuvilltl and Sou~h Atlantic & Ohio. Stock authorized.. $5,000,000, or "hich the counties or Clark and Fayette and eity of.. Lexmg-ton have subscribed $310,000. An issue or bonds to the amou°"' of $3,000,000 has been authorized, covering road and equtpment. The authol'ized stock is $5,000,000. The following are directors: F. D . C.1rLt-y, H. C. McDowell, St. Jo"!in Boyle, L . T. R1Jsenp:arten, A. P. Hum• pbr0.v, W.R. Belknap, Jolln M. Atherton, Geor." e M. Davie, C.H. si.n and R. P. Stoll, all of Louisville and Lexington, Ky. Kentucky Central B.11.ilway.-Owns from Covington. Ky., to Rollllosr.one (less :i miles leased), 148 m1leti; Paris to Lexington, l@ miles; Paris. Ky., to Maysville, Ky., 49 miles; total owue I, 217 wiles; leases R :cbmond to R,1wland, 34 miles; Rotm«h!tone to Liviogston, 3 miles; to1 a.I operated, i54 miles. •.rrus was formerly the KentuekY Cemra.l ~ailroatJ, wh10h was sold in forec!o.,ure April 23, 1837, and tbe pretaent company organized. with stock of $7,000,000; par $109. See abstract of mon. (Metropolitan Trust Co. of New York, TruEltet-}, V. 45, p. 372. The oomp;1ay ltlased or the Lou:sville & Nashville Railroad itti Richmond branch for 99 years from Jan. 1, 1883, for $24,000 per annum. with a right to purchase at any time for $400,000. Tbe Maysvill1:1 Divis10n is leased for $28,0l O per yelil', but tte stock is all ow.necl. Fl'om Jan. 1 to Nov. 30, in 1888 (11 mofl.), gross ea.roings Wf'N $955,487, again;it $.1~0,363 in 18>:17: net, $14.0,<176, a~inst $!2~,897. I:S-001\IE ACCOUNT. Total gro,s earnings ............ . Net reef ipts ........••.....•....•.. Disbttr1Jements- Reutals paid ...•••.••......••..... Interest on debt .......••..••..... Taxes and miscellaneous .•...••• 1885. $847,071 $309,621 $61,210 2~5,250 69,853 1887. 1881:>. $920,698 $1,067,468 ~32,321) $455,352 $55,045 ·as:520 $55,045 ~53,620 73,3" Total disbursements.......... $386,313 $88,574 f382,057 Balance .• •..••..••....••.••..••••. def. $76,692sur.$243,751 sur. $73,2196 -(V. 45, p. 112, 372, 373; V. 46, p. 200, 412, 802.1 Keokuk &, De8 Molnes.-Owns from Keokuk, Ia., to Dee Hoines, Ta., 162 1nil08. 'lhis was a reorganization. Jan. 1, 1874, ol the .De.s M uiues Va.Hey Eastern Div., sold ID foreclosnre October 1,, 187;i. Ti.& proptrty waH leased fur 45 yea·r s from Oot. 1, 187t:!, to the Chicago Roe k Liland & Pacific Railroad, the lessee to pay 2fl per 0t-nt of the greB8 earuingf'I, t,ut guarantee tbe interest (not tbe principal) on the preseat OOJldt>. ·.rhti stock is $1,524,600 8 p. o. pref. Slld $2,ti00,4ll0 common (par both 100), a majoritv of whioh is beld by the l~see. Dive. on PNf. since 1876 have been: In 11'b0 and 11:!81. l ~ p. o.-notbing 1,inoo. Keokuk & Western.-O\llns .Alexandria, Mo., to Van Wert. Ia.. l-l .1 mile<1; op, ratts Keokuk to Alexandria, 5 milts; Centerville, Ia., to Albia (traokage-C. M. & A. RR., 24 m.); total, 172 miles; was formerly the Mo. Iowa. ~ Neb., parti of the Wa 11aeh Elystem sold in foreclosure Aug. 1::1, 1886, and reorganized under tbia title. Btoc.k. $4.00f:),000; p i,r $100. .A. 6 p. c. note for $2•10,000, secured by mort., payable .as will, is outi,tanding. From Jan. 1, 1~88, to Maro-b 31, 188~ (3 mont~), ~ross earnings were $7d,080, against $77,245 in 18tl7; net earnln(tS, $t5,';U9, against $23,'➔ 42. In 13 month'! ~nding Dec. 31, 1887, ~ s tia.rning:1 were $3ti!j.387; net $112,896. Dividend ot 1 per oent was paid in 18d8. ~'. T. Hugnes. Pr&'t, Keokuk, Ia.; \¾. H. Caudee. f>i William i:Jtreet, N. Y., Vice•.E'rea'li.-(V. 45, p. 166, 3oi; V. 46, :v 4'79) Kings County Elevated.-Owos roa.d in eperation through Fill· tou St, .-et. Hroo1Hy1,, to ci,y limits. about 6 miles in all. Stock pa1d in, $1,00u,0011; 2d mort. wai, issut"d in 18~8 to extend the road. Presic1ent, James JourJao. (V. 45, p. l!5, £00; V. 46, p. 93; V 43, p. 170.) Kingston & Pembroke.-Owns from Kingston, Ontario, Can., to Reutiew un the Canadian t'ac1tl 11 RR., 104. mtlei,; branches, 9 mllee; to tal, 113 miles. Bonrls are redeema.t>le on notice at 105. Offered 1n Ntiw York in J 887 b.v R. P. Flower & Co. Stock, $4,500,000; 11ar $&9. U-ross earniujl'S 1886, $148,56~; net,$ lt-,348; lixed charges, $~4,:iflO; surplus, $14.028. In 1887 gross, $175,135; net, $51,104; surplllS over Interest, $16,784 Bee full Rtatemtinti in V. 44, p. 402. Lackawanna & Pith burg.-!. oonsolidat,ion in A.prll, 1888, •f the Alkghany Central and the Lackawanna. & Pittsburg. Boad oi:--- MAP OF THE KANSAS CITY, WYANDOTTE AND NOR rH-WESTERN 1 RAILROAD & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis N .- T E Rt - ;; - ~ :,·~.... .. . . 0 , -,,,,. ··· •• : • • ..... - • .. , . - rli C z 0 ~ ~ z ~ Cl2 ~ 0 E-4 Cl2 ~ :, i .A1lcndn1e 0 P u1asl.l K / Somerset MAP OF Tll.B; KENTUCKY UNION RAILWAY https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis / ,. Corbin .& AND CONNECTIONS. Shaded ltni's- Timber, Can nel d; (,'uking Coal Regi.o11, i11 whi.ch a,e located 5()(),000 acrei, al the Ca . Lu11cls. R 0 L INVESTORS' SUPPLEMENT. 68 [VoL. XLVUL. Su1'scrlbers will conCer a great favor by giving IJDJDedlate notice of' any error dll!lcovered In the•e Tables. DESCRIPTION. Miles Date Bize,or INTEREST OR DIVIDENDS. ::::-~-;~~~ For explanation of column headings, &o., see notes of of Par ou-t'si~~g Rate per When Where Payable, and by Stocks-~ on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. l - -· - - - - · 1 - - - - - 1 - - - -· - - LaJce lfhore ti Michigan Southenr-Btook .• •..•...... 1,3.U . .•. $100 $19,466,500 2 & 1 ex. F. & A. N.Y.,Grand Cent.Office. Feb. 15, 1889 .. 1 l GOouaranteed 10 per cent stook ................... 1,3 4 1. O 8 64 1 mort. D.801. st do (sink. tund, $250,000 y'rly) r 864 do r 864 ~=t~~i~«i~~li~:J:·~:~~~~~~-~.~!: 3d mort. (Clev. Painesville & Ash. RR.) ..•..... r Bd&lo & Erie, mortgage bonds................... Det. Monroe & Tol., 1st mort., guar ........ ...•••. o Kalamazoo & White Pi,reon, 1st mortgage....... K&l. Allegan & Gr. Rapids, stock, 6 p. c. gua.r.... Jamestown&Franklin,lstmortgage............. Jamestown & Franklm. 2d mortgage............. llahoniDgCoal,st'.k($500,000ispref.gua.r.5p.o.) do 1st mort. bonds guar.. ...... . .. I,eh,igl,,~ HudaonRit't1'-lBt m.,g. .int.red'ced to 5 % 2d mortgage oonsol. (for $500,000)............. .. Warwick Valley,lst & 2d ms. ($240,000 2ds, 1911) I,eMgJ,, ti .LacJc.-lst & 2d M. ($100,000 are lats) . . Lu,,'t,lt. Vatley-Stook ($106,300 is pref.)............ lstmortgage,oouponandregistered..........•... id mortgage ......•...•.....................•..... r Oonsol.m.,sterling, g., e.f. ~9(,y'rly, d'mat_par.o.tr do coupon and re 5 i11tered ......•...... o.lr de annuity................................. Easton & Amboy.1st mort., guar.(for $6,000,000) Delano Land Company b<'nds, endorsed.......... ~Miamt-Btk,com.,gu.8%,99yrs,Pitt.C.&St.L. Street con.1st M. (jointlywith(,'in.& Ind.RR.) ... c Renewal mo~e .......................•....... c LUUe Jlock ~ Memphis-First mortgage, gold ..... o LUUe &AuylkiU-Btook.............. ................ ~~t 95 88 62 ~7 . . .. 51 51 43 43 41 63 22 25 361 101 101 232 23 2 2 32 60 .••. 198 •... 84 135 31 . . .. 1 87 0 1870 1870 100} 1000 1,000 1,000 533,500 15,041,000 399,000 ½~i~ ½:ggg zgi~:ggg 1867 1,000 920,000 5 7 5 ~ F.J&&AJ. . · • }S Q.-J. Q.-J. do do j Coupons a.repaid by i.A. t& ~:0. Feb. 1, 1889 Jwy 11.• 1900 JY.ly 1900 Oct., '89 to '90 ~~~~f'b~~~f~~ ~~~l: l 7 Y., and re.Jstered 1868 500 &o. 2,784,000 7 A. & O. interest by Union 1876 1,000 924,000 7 F. & A. Trust Company. 1869 1,000 400,000 7 J. & J. • . ... 100 610,000 3 A. & O. 1863 1.000 257,000 7 J. & J. 1869 1,000 500,000 7 J. & D. . .;,:, 50 1,773,0CO 2¼onpf.J. & J. N.Y.UnionTr.Co. 1 8 ""' 1,000 1,500,000 b J. & J. do do 1881 1,000 800,000 5 J. & J. N. Y. Nat. Ex Bank. 1887 1,000 204,070 5 J. & J. do do '79 '81 500 &o. 385,000 6 A. & O. do do 1877 1,000 600,000 7 .r. & D. Phil., Fi!lel.I.& 8. Dp.Co. .... 50 39,707,550 1¼ Q.-.J. Phil., 228 So. Third St. 1868 1,000 5,000,000 6 J. & D. Reg.atoffioe;op.B'kN ..A 1870 1,000 6,000,000 7 M. & 8. Philadelphia, Office. 1873 1,000 2,678,000 6 J. & D. do do 1 8 '!,3 1,000 9,785,000 6 J. & D. do do 18 1 3 1,000 1,335,000. 6 J & D. do do 1880 1,000 6,000,000 5 M. & N. do do 1872 1,000 1.355,000 7 J. & J. do do .... 50 4,943,100 2 Q.-M. Cinn.Offloe,Laf'etteBk. 1864 1,000 250,000 6 J. & J. a.o do 1882 1,000 1,500,000 5 M. & N. N. Y., Banko! America. 1887 1,000 3,250,000 5 g. M. & 8. N. Y., Central Trust <:o. ... 50 2,487,850 319 J. & J. Phil. Offioe,410Walnut• j Med from Lackawanna Junction, Ne IV York. to Perkinsville, 41 miles; 8wain'e to Nunda, 11 Olee.n to Angelica, narrow gauge, 38 m.11otal. 90 miles. Brook $5,000,000, of which $1 500,000 is preferred. In 1884. Company beoame embarrassed a.nd in Dec., 1884, a reoeiver waa appointed. A plan of reor#$anization was agreed upon, and under it eecurities were deposited 'Wlth Mercantile Trust Co. csee V. 46, p. 200), but diffioulties arose and matters came to a. stand-still. A new plan of reorganization has recently been proposed. Earnings in 1885·6, '50,943; net 1068, $17,869. In 1886-7, net lo88, $2,000. Geo. D. Chapman, Preeident and Receiver, 48 Wall street. NewYorlr.-(V. 46, p. 200, 228.) Lake Erle A.lllanee & Southern.-Owns from Eergholz, O., to Phalanx, o,, 60 miles. Formerly Cleveland Youngstown & .Pittsburg, sold in foreclosure Dec., 1886, in the interest of the bondholders and reorganized Jan., 1887, under above name. It is proposed to extend the :road East and North to Fa.irport, on Lake Erie. Stock is $2,000.000; par, $100. The 1st mort. Is subject to the lien of $150,000 bonds of the Alliance & Lake Elie RR. on road 1rom Pbalan x to Allie.nee, 21 mlles. The balance of 1st mort. bonds is rtserved for extensions, at $25,000 per mifo. A.. L. Griffin, President, Pittsburg, Pa.; L. M. Lawson, Treas· urer, 102 Broadway, N. Y. Lake Erle & Western Rallroad.-<&e Map)-Owns trom Ban· dusky, O., to Peoria. IlL, and branch to Mtn~ter. 430 miles, and from IDdianapolis to Michigan City, 162 rr iles; total, 592 miles. This is the new company forrued in 1887 after forecloaure (on Deo. 14, 1886,) ot the Lake .Ei-ie & Western railway, which bad been ma.de up by a con• eolidation, Dec. 12, 1879, of the Lafayette Bloomington & Muncie and tbe Lake Erie&. Western. In Ma1oh, 1887, purchased the Indianapolis Peru & Chio. road, 162 miles. Abstraot ot mortgage (Central Trust Co. and A. L. Munson, trustees), m.; fggz Oct. 1, 1892 April 1, 1898 Aug. 1, 1906 Jan. 1, 1890 Oct. 1, 1888 Var.toJ'lv,'97 June 1, 1894 Jan. 1, 18"89 July 1, 19:U. July 1, 1911 July 1, 1917 1899 & 1911 Dec. 1, 1907 Jan. 15, 18t9 June 1, 1898 Sept. 1, 1910 Deo. 1, 1897 Deo. 1, 1923 Irredeemable. 1920 Ja.n., 1892 Deo.11,1888 1894 Nov. 2, 1912 Sei>~• 1, 198'1 .Tan.12, 18~9 0 @10v9s; in 1887, 89@9834: in 1888, 85¼@104'7s; in 1889, to .Tan. 18, inclusive, 102@106. The first consolidated mortga!'e bonds a.re redeemed eaoh year by $250,000 contributed to the sinking fund. The a.bove bonds of all classes outstanding are given less the amounts held in the s1nk1ng tund.s. which amounted to $4,250,000 Dec. 31, 1887. OPERATIONS, FINANCES. &c.-The annual reports of this company-~ models of clearness in all the statistical matter. The road ts great.IT dependent on through traffic, or traffic from competitive points, and ta business isiniured by any cutting of rates. Ln 1882, 140,500 shares preferred stock and 124,800 shares of com• mon stock of the New York Chicago & Bt. Louis Railroad (a oontrolling interest) were purchased. This N. Y. 0. & St. L. (Nickel Plat.e► stock was afterwards out down one•half in the reorganization, Tiz., to 70,250 shart's of pref. and 62,400 shares of common and an a!l8essment of 10 per cent cash paid on it. the company receiving $2,503,000 l&t pref. stock oi N. Y. Chio. & St. L. for the assessment. In 1886 the 1st oonsols for $849,000 were issued. bearing only 5 per cent interest, and these may be redeemed by instalments on Oot. 1 each y~ar till 1890. For the year ending Dec. 31, 1888, the preliminary statemeB.t, partt, eStimate.d, was as follows: 1 87 G · $lo\88389· 36 • ~ • ~ ross earnmgs. ·•·· ···nd ···· · ·····•• · ••• 11 "• 239, 2 "'18, 1 0 •9 ..u Opera~ng expenses a taxes........ , , 87 ll,OZ9,798 Per cent ~·· .... ··•· ·•·••• · ·••··••··••· <62 ·32 > <5 8· 9 5) N t -• $6 7 ..4 649 m7 6~1 16'" e eu.lJ.Jn~s ......•.••.. ·-········ • " ' "' •649•6' 3, Int., rentals and dh'nds on guar. stk. 8,600,000 , 5 Surplus earnings.... . ............. $3,194,649 $4,031.520 ~~~~~ i ($815t Equals per share.................. (il6 46) Range of stock prices since reorganization has bee:a as follows . . Oommon in 1887, 13'iii24½; In 18~8, h¼'<b191st in 1889 to Jan.18, ' Theannualreportforl887waspubllshedinV. 46,p.570,oontaining i.Jlelusive, 161s@16 7s- Preferred In 1887, 3934@61; in 1888, 40i.@55 7e; the tables below, showing the ea.min.gs and inoome aooount for a eerie. iD 1889 to Jan. 18, inclusive, 5138@53¼. of years: From Jan. 1 to Oct. 31 (10 mos., 1n 1888 gross earnings were $1,'i 83,· OPERATIONS AND FISCAL RESULTS. 202., against $1,'i 52,806 in 1887; net, $652,249, against i688,621. • .,_ , 1884 188 u 1886 ·.1·ne annual report for 1887•8 was m V. 4.7, p. 53v. 1887. Earnings for the year ending June 30, 188e, were ae follows: Mil~~~~·..... 1,340 1,340 1,340 1,341 Gl'088 earnings .....••.• :. •·········· •························ $l, 9 68, 2 l8 Pa.as. carried (No).. 3,629,196 3,479,27( 3,715,508 3,752,8'6 Operating e.xpenses (62 78 per ctnt) · • ·· •····· • •· • • •·· • •· ... ·• · 1 , 255 , 269 Pass'ger mileage ..•• 190,503,852 176,830,303 191,593,135 205,761,459 Net earnings............................................... 1jS7l2,9!9 Rate p. pass. p. mile 2·170 ots. 2·058 cts. 2·098 otll. 2·260 otL RESOURCES OF THE YE.AR_&NDI.NG JUN£ 30, 1888. Fr'ght (tons) moved 7,365,688 8,023,093 8,305,597 9,S26.85Z Net earnin~..... .•.•••...•..... •••..•......••..... ....•••.•••• $712,94~ Fr'ght (t'ns) mileage * 1,410,545 * 1,602,567 * 1,592,044 * 1,843,785 Increaee of floating debt or f\eer&se of cash assets.......... 711 ,22'2 Av. rate p. ton p. m. 0·652 ote. O·M3 ot.s. 0·639 eta. 0·870 obi. i Tot.al................... ... ... .. . .. ..... ... .. ............. ,1,424, 110 p!~~;!~~~. ....... Dl8P081TION OF RE80URC&6. Interest on fuDded debt....................................... Rentale. .. . . .. . . . . . . . . . . . . . . .. . . . . . ... . . .•. . ... . . . . . . . . . . . . . . . . . Ine:rease of ,-ther thail cash aueta .••. ····-.. . .•...••..••.•••. Construotlon and equipmt>nt. ••. . • . . • •• . . •• . . ••. . • . . . • . . • . • . . . Betterments............ . • • . • • •• . . . . . • . . • . • . . . . . . • .. . . . . . . . . . • . Freiftht.............. $ 296 ,000 Mail, exp., rents, &o. u3\ 729 9:358:817 1,351,038 ~ 02~ siso 4,es: 663 9:031:417 10:329:6~5 12,M7~9Z8 1,462,713 1,509,280 1,512,386 a 63f 375 6,830 24 ,~27 Total gross ea.min.gs 14,84.3,584 14,133,505 15,859,4M 18,710,99 538,965 Operating Jhpensu$ $ $ $ 557 ,5~8 Mafnt'ce of way, &o. 1,532,252 1,614,777 2,0t4,04t 2,079,08-~ 1,34.0,291 1,995,012 Total...... . . . • • . • • • . • •• . .•...•...•.......•........•..•..••. $1,424, 170 Maint. of equipment. 1,111,329 1,347,379 5,192,943 5,730,977 Transport'nexp'nses 5,380,166 5,277,444 C. 8. Brioe, New York, President.-(V. 45, p.572; V. :46, p. 45, 44't, Taxes............ . • • • 485,946 476,257 518,668 ~21,543 173; v. 47,p. 530.) ......, 668,398 748,US 529,269 Miscellaneowi t...... 588,231 - Lake Shore & Michigan Southern.-LINE OF ROAD-Buf• 9,731,622 11,029,798 9,133,521 9,287,537 Total .•••.•••.••• falo,N. Y., to Chioago, Ill., 540 miles; branches owned, 319 miles. Other lilles owned as foilows : Detroit Mon. & Toledo, 62 miles; Kalamazoo & Net earnings .•••.••• 5,710,063 4,84.5,968 6,127,833 7,681,164 Wbit.eP1"ti011, 87 miles; Northern Central (Mich.), 61 miles; total, 160 P.o.of op.ex. to ear'ge 61·36 581>5 65·71 61·53 miles. &)808 leased are as follows: Kalamazoo Allegan & Gr. Rapids, 58 miles; Jamestown & Franklin, 51 miles; Mahoning Coal RR., Youngs• * Three ciphers omitted. town t,o Anitover, 0., a.nd branc·hes, 42 miles; Detroit Hills. & South• t Includes damage and loss of freight and baggage, personal iDJurtes, west., 65 miles; Fort Wayne & Jackson, 98 miles: others, 8 miles; total, law expenses, rents payable and hire of ca.rs. 315 miles. Total road owned, leased and operated, 1.341 miles. ORGANIZATION, &c.-Thie company was a consolidation of the Lake INCOME ACCOUNT. Shore RR. and Michigan Southern &'North. Indiana RR. May 27, 1869, 1886. 1887. 1885. 1884. and the, Buffalo& Erie RR. August 16, 1869. The consolidated line em$ $ $ $ Receiptsbra.OOB the former roads of the Cleveland & Toledo and tbe Cleve6,127,833 7,6Bl,16-i 5,710,063 4.,84.5,968 .... land Painesville & Ashtabula railroads. Tbe roads leased at Net earnin~s 129,999 110,752 Interest, div1d's, &c. ixed rentals are the Kal. All<'gan & Grand Rapids, Jamestown & FJanklln and Mahoning Coal. Tbe Detroit .Monroe & Tol. 7,811,163 6,238,585 4,845,968 5,710,063 Total income .••• Kalemazoo & White Pigeon, and tbe Northern Central or Michigan, are Disbursementsproprietary roadis con1rolled by ownership of their stock. Tbe Mahon• 449,813 443,900 439,168 446,450 ing Coal RR. is leased at 40 J,er cent o! ~ross earniDgs, and its yre- Rentals paid ..••.••• 3,326,480 3,276,140 3,220,870 3,374,938 fetTf'd stock and boi::ds guaranteed. The New York Chicago & St. Louis Interest on debt ...•. 53,350 53,Sf>O 53,350 53,350 Divid's on guar. s'k. road is controlled by ownership of stock. 250,000 250,000 8Tocx.s .AND Bo1ms.-The guaranteed 11tock of $533,500 carries 10 per Sinking fund ...•.••. cent dividends. The ordinary stock has paid the followin~ dividends Total disbursem'ts 3,720,670 4,117,456 4,073,730 3,778,803 lince 1870, viz.: In1871,8; in 1872,8; in 1873,4; in1874,314: in 1876, 2; in 1876, 314; in 1877, 2; in 1878, 4; in 1879, 612; in 1880, Surplus for diT"d.. .• 1,989,393 728,512 2,164,855 4,032,360 '81, '82 and •~3, 8 p. ct each year; in 'B4, 7; in '85 and '86, nil; in '87 and 1J1vidends.... ....••• 2,473,325 989,330 l,97~,660 '138, 4 p. c.; m 1889 to date, a. Rate of dividends... (5) (2) ~ (4) 'nl.e range in prices of stoek since 1870 has been: In 1871, 85¾@11614; 18'72, 83¾@98¼; 1878, 57¼@97!\i; 1874, 67 7s@841!s; 1875, 5114@ Balance ••••••••••••• def. 4.83,932 sur. 728,512 u*l,176,525 sr 2,058,700 80'.19; 1876, 48%@6815s; 1877, 45w733s; 1878, o5 7sij7l~: 1879, 67@ 108; 1880, 95ibl3915s; 1881, 11215s@l35%; 1882, 98'ili1201s: in 1883, "From this surplus;"$292,522~-was~applle4It-0 1·eduotion of pay-JOlls; . n,1lll4''78 ; in 1884, 69¼@104S.; in 11::85, 60S.~897e; in 18b6, 76lfo vouchers, &c~. at end of 1885. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---------- -------- ». ---4·•- ---·- ----- ----- - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE LAKE ERIE· & WESTERN RAILROAD INVESTORS' SUPPLEMENT. LVoL. XLVIIL · 8ub•erlben will eonf'er a peat favor by gt'Yln,r hnm.edlate notice o~ any error dl•eovered In the•e Table•. DESCRIPTION. Fol' t.KO.tana.non of column headings, on first page of tables. &c., see notes Long Ialand--Btook .••...••.••..••....•••..••.••..... lat M, Jamaica. and Hunters' Point extension.c* 1st M., main,$168,500reserv'd for ab9vebds .. o •· 2d mortgage .••...•..•• . .•••......•••••..•••••••. c * Consol.l\l. g. ($1,5d3,000reserv'dforpriorbds.)o « General mortgage for $3,000,000 (2d lien) gold.c>New York & Rockaw~, guar. int. only .....•..••. Smithtown & l"ort; Je erson mortf·• guar.•••••••• Newtown & Flushing, guar. princ pal and int ..•. Equipment certifl.cates .....••....•..•....•...••.•.. Long Island Oily cl Flushing-lat mortgage ..... c • O,rnsol. mort., gold, endorsed by Long Isl. RR.c~ A'.os .4...,,,geles <l San Diego-lat M. (for $2,800,000l .. -' o·i.is·i ana Western-lat mortgage, gold ..•...•..••. l.ic, -. 11,.~i,. Evan81'. ci St.1,ouis.-lstmort. E. R. & E ... lat rnort., gold, for $2,000,000 (2d on 72 M.) . .. c* 2d mot·~-, gohl, for $3,000,000 ....•.......•...•.. o• City~ C. RR., lat M., gold, guar ..•. c * Bond•-PrinOl• INTEREST OR DIVIDENDS. Miles Date Size, or pal,When Due. Amount of of Par Outstanding Rate ~er When Where P~ble, and b? StockB---Laet Oen • Payable om. Dividend. Road. Bonds Value. -357 - - - - -$50- -------1 'N.Y.,Corbin Bank'g Co . .no,000,000 ;t_,-F. 7 do do isso 168,000 .&N. 10 94 158 180 180 9 19 4 500 500 1868 1878 100 &c. 1,000 1881 1,000 1888 500 1871 500 1871 1871 500 issi i"o~ 19 1887 27 112 71 182 182 23 1.S1n e d! Nashmlle-Stook .•••.••.• •• • _.•..•••... . 2,119 Lebanon br.juno., to Livin1?ston, Louisv. loan .. c' 1~•1 Leb~on-.Kno:xv., M. lat on 62 m. ($1,500.uOO> . . c' 171 Cecilian Br.,lstm,Ce<:il.to Lonis.,s f.,dr'nat 100.c• 40 Consol. lat M. (Drior lien@ are only $333,0 00) ... c* 39~ Memphis & Ohio, lat m. Paris to Mem., gnar ... c· .1.30 Meru.Clarks.&L.. lstm.,Guthrieto Paris,Tenn.c' 83 1st >1.E.H.& N.,Henderson to Nash.,dr'n atllO.c· 135 Genera.IM., gold, drawn &.t 110 ($20,uo·1,000L.c' 80~ Collat. Trust, 3d M., g., (dr'n at 110) convert ... c · l,079 10-40 Adjustment M., g., (red'ble aft. '94) ...•.. c' 785 lat M. onN. 0. & Mobile V ,v.,N.O. toM,,l>ile ... o• 141 .2d M., N. O. & Mob. Div., New Ori. to Mobile . . c• 141 Bonds sec'd by pledge of 2dM.8.&N.Ala.RR ... o* 189 ,1!_f!D~·Jell 1880 1881 1881 '!886 1886 1887 isss 1881 -877 lRob } t-;·: J. .d,·,2 1879 1880 1882 1884 1880 1880 1880 1,121,000 7 M.&N. do do 7 F. & A. do do 268,703 5 g. Q.-J. '3,437,000 do do 4 f(. J. & D. 1,000,000 •o 7 A. &O do do 250.000 7 M.& S. do do 600.000 7 do do 150,000 M.&N. 7 J. & D. Philadelphia. 20,000 6 M. & N. N.Y., Corbin Ban.ir'g Co. 600,000 1:000 5 g. 'M:. & N. 1,000 650,000 do do 6 556,000 J. & J. N.Y., So.Pao. Co.,23 Brd 1,000 .J. & J. N. Y., So. Pa.c.Co.,23 Brd 1,000 2,240,000 ~ g. 1,000 900.000 J. & J. N. y Mercantile l'r. Co 6 g. A.. & 0. Boston, Cont. Nat.Bank 1,000 2,000,000 do do . 1,000 3,000,000 2 to 6 ~- A.. & o. 6 g. A. & 0. 300,000 1,000 do do N.Y., 50 Ex.change Pl. 100 31,518.000 2 stock A..·&·o. 333,000 6 do do 1,000 Pledg-ed. 6 ){. & s. do 1,000 do 875,000 ){. & 8. do 1,000 do 7 1,000 7,070,000 7 do do A.. & 0. 3,500,000 £200 7 J. &D. London, Baring Bros. 6 g. f<'. & A. 2,015,St:iO do tlo £200 · 1,000 6 g. J. & D. N. Y., 50 Exchange pl. 2,3'20,000 6 g. J. &D. 1,000 12.056,000 do do 6 g. •t-Mar 1,000 9,570,000 do do 6 g. 1,000 5,000,000 do .&N. do 6 g. r. & J. 1.000 . 5,000,000 do do 1,000,000 6 1,000 r. & J. do do 1,000 1.960,000 6 !.. &O. do do le85-86. GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR. 1884. 1885. 1886. 1887. $ 1886·87. $ - Ft,b. 1, 1889 May 1, 1890 May 1, 1898 Aug. 1, 1918 July J, 1 µ31 June, 1. 1938 April 1, 1901 Sept. 1, 1901 May 1, 1891 June 1, 1889 May 1, UH.l May 1, 1937 July 1, 1910, July 1, 1921 July 1, 1921 Oct. 1, 1926 Oct. 1, 1936 Oot. 1, 1927 Feb. 11, 1889 Oot. lo, 189b. ){arch 1, 1931 Mar. l, 1907' April 1, 1898 June 1, 1901 Au~.1, 1902 Dec. 1, 1919 June l, 198'0 Mar. 1, 1922 Nov. 1, 1924. 1 Jan. 1, 1980 Jan. 1, 1930 April 1, 1910 . 1887-88. $ · Asae.tsDisbursementi $ $ $ $ 2,081,285 Jlatlr'd, build'gs, &o. 70,048,600 70,0-!8,600 70,048,600 70,048,600 Cnterest on debt ..•..••....•.... 2,0U,171 2,048,201 Equipment .••...•... 17,300,000 17,300,000 17,300,000 17,300,000 General, ta.xeS1, floating interR'l est. & office prop. 365,780 365,780 354,167 352,638 est, loss on Morris Canal, de• 967,874 Ch.& Can.So. bds.,&o. 1,018,747 preciation, &c .••..••..••..... 682,003 71:'i,ooo 71~.ooo 715,ooo 729,970 Stocks owned, cost .. 12,012,839 12,195,068 12,113,700 14,0:ilt,~ll;2 Dtvidenda* .••..••..••..••..••.. 1,890,876 1,584,081 1,331,531' Bonus ewned, cost •. 933,080 645,400 674,400 664.400 .Advances .... .....••. 1,454,942 1,461,147 1,525,859 1,701,911 4,940,035 4,643,999 4,061,735 Total disbursiements._...••. Materials, fuel, &c ..• 96~311 67~474 59~430 604.594 285,469 Cash on hand ..•..••• 410,772 40,250 218,682 235,705 2,559,928 2,604;48'.! Ba.lance, surplus ....••..••..••. Uncollected earnings 1,249,858 1,588,590 1,216,840 734,369 .. In 1885 -86, 10 on pref. and 4 on com.: in 1886·87, 10 on pref and 4~ Total assets .•••. 105,265,092 105,228,854 107,104,924 108,780,946 on com.; in 1887·88, 10 ,.:m pref. and 434 on com.-(V. 46, p. 101. 344, 371, 678; v. 47, p. 108, 593. 664; v. 48, p. 98, 100.) Liabilities $ $ $ $ ~tock...... . . . . . . . . . . 50,000,000 50,000,000 50,000,000 50,000,000 Bonds....... .••.•••• 47,716,000 47,466,000 47,216,00() 46,766,000 Little Bitani.1.-0wns from Cincinnati, 0., to Springfield, O., 84 Dividends . . . . . .. . .. . 26,675 26,674 1,016,005 1,016,005 miles; bra.nob, Xenia, O., to Dayton, O., 16 miles; leased, Columbus & ether liabilities... •• 2,975,161 1,131,670 839,148 911,469 Xenia RR., Xenia to Columbus, o., 55 milea; Dayton & West. RR., DayProttt and loss...... 4,547,256 6,604,510 8,033,771 10,087,472 ton, 0., to Indiana State Line, 38 miles: Ohio State Line to Richm'd, Ind., 4 miles; Cincin. Street Conn. RR., 2 miles; total operated, 198 miles. The Little Miami Railroad proper extends from Cincinnati to Bpringtiela, bui Total liabilities .. 105,265,092 105,228,854 107,104,924 1OB,780,946 the portion between Xenia and Springfield is now operated as a branch; -,v. -15, p. 5. 25,304,743, 820, 872, 886; v. 46, p. 255. 570, 610; for the remainder of the main line, as given above, the Col. & Xenia 65(l, 783,802; V. 47. p. 227, 709, 802.l road (leased), is used. On December 1, 1869, the Little Miami, with all its branches, &c., Leht~h & Hudson Klver.-Owns from Grey 1murt, on Erie road, was leased to the Pittsburg Cincinnati & St. Louis Railroad ComThe Pennsylvania Railroad ~ Beµndere, N. J., 63 miles. Parties interested m this an1connecting pany for 99 years, renewable forever. l"o_ads are buil~ing the. Orange Co. Rli. from Greycourt to Campbell, 7 Company is a party to the contract and guarantees its faithful execution. Jnlles, to ~ermmui of, tne PennsJ lvanla Pough. & East1•rn RR., and under Road is now operated by PittRburg Cin. & St. Louis Railway Co. Lease con11t~uction to the Poughkeepsie Bridge, a. distance of 'L.7 miles. In rental is 8 per cent on $4,94.3.100, interest on debt and $5,000 peraddition to above there are $65,ouo Wayawanda 6s due 1900 and annum for Little Miami Company's expenses of organization; the fullill$89,430 6 per cent car ~ts. Stock, $1,340,000. Four coupons, July, ment, or tin~ lessor's lease obligation is also stipulated. In addition to 1885, to January, 1887, mo1us1ve, were funded. In Deeember, 1885, above debt there is $100,000 6 per cent pe:tmanent ca.vitalized debt; a traffic contract was made with Lehigh Coal & Nav. Co. ant in Aug., intertst J. & J. In 1886 net loss to lessee was $468,680. In 1887 1888, the Cent. of N. J., acquired cnutrol or the road by purchase of net revenue to lessee was $tA2,254; against which paid rental, &o., f!tQc.lr-. bl year endmg Sept. ::JO, 1887; groes earntr. g,3 were $244,431; $740,659; net lo'is to lesRee $293,405. net, $101,806;surplusover mteres.t and ta~ei:1, $7,159. en 1887•88 gross ~rnings, $23_5,50t; net, ovei: expensed and taxes, $88,292; deficit under Little Rock & 1'Iem.phl8. - Owns f'rom Little Rook, Ark., to ~ tei;:eat, $313, Grinnell Burt, President, Warwick, N. Y. (V. 45, p. Miss. River, opposite Memphis, la5 miles. The Memphis & Little Rock 8 56; V. 47, p, 709.) road was sold 1n foreclosure in 1872, again in 1877, and again in 1887. . J,e~h & ~ackawanna.-Owns from Bethlehem, Pa., to Wind The presP.nt company was organized Se-vt. 1, 1887 and all the old Gap, Pa., 25 .miles; thence, in connection with the Wind Gap & Dela• bonds have been retired with the above new mortgage bonds, making W&l'e Railroad, to Bangor, Pd., 32 miles. It is operated by the Central the annual intereRt charge $162.500. Under the title Memp. & L. Rock.J Riµlroadof New Jersey under a special agreerueut. Opened in 1867. 1n iasues of the SUPPLEMENT prior to Nov., 1887, an aoo~unt ot th~ roa<1 01 the ab~ve bonds, $100,000 are a 1st mort., and $500,000 2d iR inven. Stock authorized, $ ·3 ,250,000. Rudolph Fmk., President, mort. Capital stock, $370,500; par, $50. Gross earnings in 1887 .I\Iemphia, Tenn.-(V. 45, p. 401.l $56,319; net, $14,765. In 1886, net, $13,860. · ' Little Schuylktll.-Owua from Port Clint~m to Tamanend, 28 ~.ehlgh Valley.-(S~ Map.)-Owna Phillipsburg (Pa. Ltne), N. J., to miles; branches, 3 miles: total operated, 31 miles. The East MahaW,llkesbarre, Pa., 104 miles; branches-Penn Haven to Audenried noy RR., wasleaae(j.Jan.12, 1863,.ror 99 years, and sub-leased to Phlla. 18 miles; Hazle C-';'eek ~ridge to Tomhicken (and branches). 32 miles;' & Rea.ding July 7, 1868. The Linle Scb1.1ykill Railroad is leased to the Lumber Yard to Milnesville (and branches), 23 miles; Black Creek June• Philadelphia & Reading ~a,ih·oad for 93 years from July 7, 186?. uon to Mt. Carmel (and branches), 61 miles; Slatedale branch, 4 miles; Rental in 1887, $185,227. Extra dividend of 112 per cent was paid Bear Creek Juncti~n to Bear Creek, 11 miles; Lackawanna Junction to July 7, 1888. :llKesl!arre& 10 miles; New Boston Junction to Hizlelion, 14 miles; Lonw I8land.-OWDB from Long Island City, N. Y., to Gr~nE~ntetoLin&eAm Bull. RR., Monroeton to Berwick, 24 miles; also owns the ..., n boy RR., Amboy, N. J., to Pennsylvania Line, 60 miles; port, N. Y., 94 miles; branches, 86 miles; total owned, 180 milet1 . ~t&J. operat-ed, 361 miles; also leases Southern Central RR., operated Leases-Smithtown & Pt.Jefferson RR,, 19 miles; Stewart RR. to Beth14; Stewart RR. to Hempstead, 2; N. Y. & Rockaway RR., ;j ennsylvauia & New York Canal & Railway, which latter road is page, 4 (o unop.); Brooklyn & Jamaica RR., 10; Newtown & FlrLshing RR., so ~o~trolled by Lehigh Valley. This 18 one of the most important of the coal roads. Dividends on the 4; Brooklyn & Montauk, 67; N. Y. Brook. & Man. Beach R'way andl ordinary stock have been as follows since 1870: In 1871, 1872. 1873, branches, 20; Hunter's .Point & Suuth Side RR., 2; Far Rockaway 1874 and 1875, 10 per cent pa.id; in 1876, 9; in 1877, 5½; in 1878, 1879 branch, 7; L. L City & Fln.shing RR., 14; Whitestone Br., 5: WoodsidQ and 1880. 4; in 1881, 512; in 1882, 6-½l; m 1883 and 1884, 8; in 1885, 6; Br., 4; total leased, 177·4 miles. Total owned and li>ased, 357 miles. The Long Island Railroad went into the hands or a receiver October, 1n 1886, 4 in 1887, 412; in U!8..,, 5; in 1889 to date, 114 Prices of ,, the common stock In Philadelpha since 1'577 were as follows: In 1878, 1877, but m 1881 the company resumed possession. The control of the company was sold to the "Long Island Company, 32l\&,@42¼; in 1879, 33½@55; in 1880, 46@57l\&,; in 1881, 5712@6414; in 1882, 5814@67l\&,; in 1883, 63@7314; in 1884, 57@7170 ; In 198!5, 5412 nontrolled by Mr. Austin Corbin and others, in Dec., 1880. In July, @61~; in 1886, 5514@62; in 1887, 537e@57~; in 1888, 5112'@5778 ; in. 1881, the sio~k was increased from $3,260,700 to $10,000,000. and it is proposed to make it $12,000,000. 1889 to Jan. 18, 54~@55. '£be general mort~age i,;isueil in 1888 provided for new equipment In March, 1888, it was derided to issue 20 per cent in new stock to stookhoMers at par, the procePdR to be used in paying for the Roselle and extension!>; trustees, Central Trust Co. Dividends llave been as follo ws since 1881: In 1882, 1; from 1883 to & South Plainfield road, for lands in Je: sey City and for artditiona.l equipm ent. (See V. 46, p. 371.) Company guarantees dividends on date at the rate of 4 per cent per annum. Range of stook prices s;n~e 1882 bas been a,~ follows: In 1883, 58@86:\f; in 1884, 62?t7814; m stock o:I' Morris Canal (see that compa,ny, under "Uan:tls. ") The ti.seal year ends November 30. The last annual report was in the 1885, 62@8075; in 1886, 80!bl00; in 1887, 85@99:\l; in 1888, 87121' . CHRONICLE, V. 48, p. 98. It is one of the peculiarities of the company's 95; io 1889 to Jan. 18, incl., 90%@93¼. l'isca.l yen.rends Sept. 30; the 1887·8 report was m V. 47, p. 775, annual report that no general balance sheet is given. The earnings, expenses and income account for the fiscal years ending Nov. 30, were: EARNINGS AND EXPENSES. ---- INCOME ACCOUNT. 1885·86. m 1886•87. $ $ Gross income (Incl. invest,&<'.) 0 .P.3ratillg expenses .•••..• ...•. 9,395,800 5,293,816 11,197,168 6,142,396 "r~. . Total netincome •••....•... 4,101,986 5,054,771 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1881·85. 1887·88. $ $ Grose earnings .. ..•. ...... 2,826,478 12,351,739 Expen.ses and taxes ...••.. lt856,351 7,128,235 ----~et earnings.... . . . .••• 970, L27 5,225,504 1885·86. $ $ $ 2,994.,772 3,197,808 3,403,296 1,872,325 1,899,206 2,222,630 1,122,447 1,298,602 1,180,666 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE LEHIGH VALLEY RA_ILROAD AND CONNECTIONS. ~ INVESTORS' SUPPLEMENT. 79 [VOL. XLTIII. 8'11Merl1ten will coaler a s.reat fayor by ct'Ylns hluDetllate notice oc any error tllac)oyered In tllette Tablea. Botlda-ftDMllo INTEREST OR DIVIDENDS. DESCRIPTION. Mile& Date 81ze, or pal.When Dae. Amount of Par y ~ ror ~ n of column headings, &o., see notes or Rate r r When Where P~ble, and b Roa4. Bonds Value. Outstanding Cen • Payable om. on first page of table&. Divklead. ~ • Nahtn.lk- ( OontinuM) lit M., Southeast.& St.L.Div.,g.o• l E .Bt.L.toEv's- ~ M.,Boutheast.&8t.L.Div.,ir.~• > ville & br ... PenMOOla Div., 1st mort., ~ld (drawn at 10~) . . o* Mobfle & Mo~. Div., 1st ., ($2,677,000) ..... o~ P6D8a001a & ma Div., lstM.o&· ($1,248,000lo• Penea. & Atl., M.,g., guar., $1. ,000 nled~ed . o .. L.O.&Lex.,lstM.,s.f.(notdr'n),Louis.to:Newport c~ 2d M .• s. f., not drawn . .......... o • do L. & N. m. OD L.C. & L., p:old,$3,208,000 plafd. o* lei mort., gold, on branches, $15,000 per mi e .. o* ~=f~ne~~l~~-- ~~~~ .<~:~~•-~~?!.'. ~~-l~~ --~~ Hellderson Brid~ Co., 1st M., g., sf., dr'n at 105. £ou111ri1le New .A. ny ~ Oh icago-StocK . .......... U!~i~~ii.'ciitc:·&·iiid·• i>ous·n1;;.:::::::::::::~: Conso dated mortgage gold (for$10,000,000) . . c * £otii"'. N. O. cf Tex.-lst M, g., for $16,900,000 .. c * 2dmort. income bonds, cum. (pay able at 105) . . c * Income bonds (not cumulativ e) ..... . _.. .. . ....... Lo-ui mtle 8t. L. cf Tex.-lst M.,g. ($20,000 p . m.).c* Louilst>ille Bouth. - let m., in•. g nar. ($2,500,000). c' L'JI~ Val.-St'k, l0p. ct. rental. ~99 yrs. No r.Cen t . 1fa11te Oentral-Stook ..... . ..... .. .. ... ......... . ... . J.st 11 .,consol. Classes A.B, C &D($2 tt9,000. 5s).c* Collateral trust bonds for Mt. D esert Branch..•. o 81nldng fund I 0-20 gold bonds ....... .. .... . ..... c Bonds Androscoggin & Kennebec RR ........... o lla ne Cent,al ~.x:rension bonds, 1870, gold ... ... c Jnaine Central loan for $1,100,000 ............... c Imp:rovement. "A" & ·'B" . ............. . ....... . ... Euronean & North American (Ban~or loan) ...... o -- -208 208 45 179 104 185 175 175 175 103 ..... .... . iiii 288 158 5 ~0 513 513 ..... ·s·s 21 626 304 41 55 18 109 0 56 1881 $l ,000 $3,500,000 1881 1,000 3,000,000 1,000 1880 585.000 1881 1,000 Pledged. 1881 1,000 Pledp;ed. 1881 1,000 2,000,000 1867 1,000 2,850,000 1877 100 &o. 892,000 1881 1,000 50,000 1887 1,000 1,539,000 1888 1,000 4,1 5!:!,000 1882 1,000 312,400 1881 1,000 1,935,000 100 5,000,000 1,000 3 ,000,000 1,000 1881 2,300,000 1,000 1886 4,700,000 .18 86 1 ,000 11,140,000 1,11 00 1880 8,tl7,000 1884 1,000 10,000,0<iO 1 887 1,000 2,400,000 1887 500 &c. 2,500,0: 0 20 .... 600,000 100 3,603,500 4,176,400 100 &c. 1883 687,000 1985 600,000 1:000 1860-] 100 &c. 1,100.000 1870 500 &c. 496,500 18£8 100 &o. 756,800 450,000 500&0. 1.000,000 isso is12 isag INCOME ACCOUNT, 1884-85. 1885-86. 1886-87. 1887-88. Ded'Net$ $ $ $ Interest, less int.received .. 176,358 233,179 203,195 151,7$8 Ren.t ala ..•••..•••. •...•..••• 297,560 304,068 412,372 3 !!5 .091 Dividends.... .............. 400,000 400,000 400,000 4,00.000 MJ.scellimeous.. •• ....... . .. 31,56! . -·· ... . 48,198 63,067 ___ ____ ____ ____ Total otabnrsements... 905,482 937.242 1,063,765 999.918 Surplus........ ........ 64,645 ll:!5,205 234,837 l S0,748 There are also real estate mortgage, $ 2 3 4 ,000, !'is and 78 ; time loan@, '200,000, at 6 per cent. (V. 45, P• 142, 212 ,79 2 ,865; V. 46 , P, 171 , 610; V. 47, P• 21, 109, 161, 383,775; V. 4 8, p. loo.) Lon« l8land CUy & F'lu11hlng.-Road from Long· [sla ud City to Gren& Nook, 14 miles; branches, 8 miles; total, :t3 m. This is a reorga.nlzation of the Flushini,; & North Bide road, foreclosed December 11, 1880. The stock is $500,000; par $100. The consol. bonds bear the print · ed endol'Sf'mentof L. I. RR.; -$600,000 or them are reserv~d torNire 1st mort. bonds. The company is liable for $25,000 of New York & Flushing 6s. due 1 \)20. Leased to Lon,-r Island RR. for 50 years, the lessee taking 60 p.o. of gross ea.m's and $17,500 for fixed charges. In 18 ~ 7-8, rental $110,0~8; surplus over charges, $17,273; in 1886-7, rental 41105,841 and surplus over oha.rge<1, $61 ,882. Ausun Corbm, Pres., New Yor kCit.y. tV.45,p.~3; V.46,p.228.) Los .&.ncele8 & San Dlego.-Florence to Banta Ana, Cal., 28 mil'e& Leased to Cent . Pac., and rental in 1887 was $33,384. Capital etooli, $570,800. Chae. F . Crocker, Pres., San Francisco. Lonlelana W e8tern.-(See Map or Bo. Pac ) - Owns from Lafayette. La., to orani.e, l'exas, 112 mil es. Ieases e xtension in T exas, 7 m.; total, 119 UJiles. LesRedand operated by the South- Pac, Co.. being part of th e throu~h line between-Ne w Orleans a.nd HoUEton . From J a n. 1 to Nov. SO in 18 88 ,11 mos.). gross earnings were ;fS:!3,327, auainst $ - 65,9 1!:S "' tn 1887; net, $4:;S .687, against ,i;;j7~.o l8. ln 188 0 -~r :>ss 11arnin~s w ere $644,689; net, $3i9,Z07. In l8-:<7, 1uo3 s, $8 43 ,794 : n et , $4U,8 36· tn.ooK is $3,360,000. Louisville Evansville & St. L.,uie.-Lin e of road. New Albany, Ind , to Mt. Vernon, Ills., 182 miles; brauch ea t.o Jasper and Gentryville, 71. m: tracka~e. Louisville , Ky., to New Aluany, Ind., 6 m .; HuntingbuFgTell Uity & Cannellto u RR .. Liu co ln to C,mndlton, 24 m.: wtal -0perdted, 28;i mues; opened Oct. , 188~. The road w a s fol'tl1erly the, Lou111ville New Albany & St. Louis, foreclosed ln 1878. ln Oct.. 1881, a consolidation was made with the Evansv. Rock t)ort & Eastern, and the $900 1000 of E. R. & E. 1st mortga ge bonds i,1tand a.s a prior lien on tllat division. Tht' foreclomre sale was made June 9, 1.• 86. The 2d M. r onds lle ar 2 per cent in 1088 and lE89, 3 J1er cent In 11::90, 4 per cent in 1~9 L, 5 p er c , nt iu 18 •~ and 6 p er eent Tli.-reaftt-r. Be<·ond mortgage bondholders have tne right at atockbol<lers' meetings to ca1>t teu votes for each or their regi.,tered bon<l11. TruAtet:s o! both 1st and :.!d mortgages ai-e the Am. Lo n & Tr. Co. of Bo1tton and Nobh, C. Butler of Iudianapol!8. T ,1e s1 ock ii;$ t ,293,~6'l IJr"'- 5 J)tlr ",ent, non-ou ,11 ula tive, and $!,8ll ,247 common; nar or all wares us $lv0. Th~ Huntin>(lmrg T.-ll City & Caunellton RR. bonds ure ~uaranteed hy this C •· In 1885-"'6 groas earnin~ Wt3re S78tS,22U; net, ~213,357. In 18~i g roAA earnings, $1,o2:.J,91'.!9; net, ~2,77;j; smplns over charg1:1s. ,t;113,773. (V. 46, p. 60~, 82'7.) Looleville & Na8hvllle.-( See Map.~LINE OF RoAD.· -Main line-Newport, 011p11site Omcmnati, •>.,to New Orleans. La., 921 miles: St. LouiA to Ectge tleld, K y. (nea r Nashville), :-m s; M;,cnphis to Mempllis .June., .i69 (to Cincinnali, 4.j7) ; bra.nohes, 631; total mileage on wnich earnlllga wtire b .. sed June 3 0, 18".!8. 2,119 miles. The mileage in detail waa as follows: Lines owned absolutely and through ..tuoa:-Loubville, K v .• to Nashville. 185 milei'I; Bardstown Hr. and Wttt:nsion, :i7; Lebanon-Knoxville Br. Junction. via Livingston to J'ellko, Ky .. 171: Memphis Ju ne. t.o Guthrll', 46; Mem. Clarkl:l. & L., Gutbrlt-, Ky., , o Paril;, •renn., S:i: Mdmiihis & Obio RR., Pari~ to MeroJ>hia,. T .- nn., VO; Ev. H end. & Nash. Div., Htinoerson to Nashville, 135, and hra1wb, 1 fl (785 of tbe foregoing ~0:1 ml es al'e covered by th ➔ 10-40 _u djustment mort.) : l'u111herla11d Valley Br.. 311; Princet.on Br., f>3; Mobi1e ,\: Mout. RR., Mobile to Montgome ry, 179: N. o. Mobile & Texas BR., New o ,·1t-a,.s to Mot>i le, 14t; t3<,uthea8 t & St. Loois RR., East Sti. Louls, Ill .• to Evanisv1lle. Ind., 16 l, and brancuts. 47: Louio1v. 1..,i n. & Lexi • ~t on RR .. Louii,1v1JJe to NeWl)ort Ky., 109, a:tid t:,ranch to Lexington, 6 , ; Pen.. a cola & Selma. 1,1v., 8 ,1ma.. Ab., to Pensacola J ,mo., Ala.. 65; P r ni>aoola. utv . . Pen~a.cohJ, Fla.. to Pensa<'ola June., Fla., 44; Bit'mtngha,m ~111t ral RR.. Birmingham. Ala., to Blvckton aud t>rnnC1bes. 73; o thtil' Imes. lti; to1al owned, 1,788 miles. Leai;e;1 - Nashvjlle & D ~oawr R~ •• Na.~h,tue to lJ;w atur, 1L9; otue ,· lines, 24; total, 14~ miles. Operatts ror account of So. & No. Ala.. RR .. Jeoa.tur to Mon. goru.-ry, l8~, and bra.uoh, 6. Total on which earnings were based, 2, 11 ~ wiles O 11,·r c:1,tes rmder lease for account ot various <'0mpaniP-s-C ,1mbPrland & Ohio ,·; R., L ,..banon to Gl'Mni.burg, Ky. (31), >tond dhelbyville to Bloorutit·ld, Ky. (2';), 46; Mau1moth Cave Rl:l., 10; oth1w Jines, 21 miles. Also owns the 1:t1chmonrl Hra.n<'.h 1leased to Kentucky ·entra.t, 34 miles. and the <·ecilian Branch (leased to Ches. o. & so. W.), -16 miles, and t:ont,rolt,, by ownersWp or a majority of the stock, the NashvillP Obattanoogl\. & St. Louis RR .. 6 0 miles: tlH~ Owenshoro & 1'-lashville, 89 mllea: the Pensacola & Atlantic, 160 miles; the Nashville Florenct. & Sheffleld RR., 91 miles, and Hende1'80n Bridge and connecting https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 3 6 6 6 6 7 7 6 5 5 6 6 g. g. g. g. g. g. g. g. ..6. M. &8. N. Y., 50 Exchange pl. March 1, 1921 M. &S. do do March 1, 1980 M.& 8. do do Mar. 1, 192l0 M.&N. do do Nov. 1, 1981 M.& S. do do Mar. 1, 1931 F. &A. do do Aug. 1, 1921 J. & J. do do Jan. 1, 1897 A. &O. do do Oct. 1, 1907 M.&N. do Nov. 1, ·1981 do M.&N. do do May 1, 1937 M.&N. do Nov. 1, 1931 do A. & 0. Philadelphia. April 1, 1889 M.& 8. N. Y., 50 Exchan~e pl. &pt. 1, 1931 J .. &.J. F. & A. A. & O. M.& 8. M. & 8. l\I. & 8 . F. & A . M. & 8. Q.-J. F. & A. A. & 0 . 5 J. & D. 6 g. F. &A 6 M'nthly 6 g. A.. & o. J. & J . 7 419 J. & J 6 J. & J. 6 g. 6 g. 4 g. 5 6 6 g. 6 g. 21g 3 5&7 N.Y.,Nat.Bk.Commerce do do do do N. Y. , R.. T . Wilson & Oo. do do do do N. Y .. Central Tr. Co. ~- Y.,H~n. Nat, Bank. N.Y .. office, 13 William. P ortla nd, Me., office. Bost .. 2dNat.Bk ..&POJ t. do do · do do do do do do do do Rost., 2d Nat. Bk.& Port. Bost., Merch'ts' Nat.Bk. 1: Jui;· "i910 Aug. 1, 1911 Apr. 1, 1916 Sept. 1, 1984 Sept. 1, 1934 Sept. 1, 1934 F e b. 1, 1917 M ar. 1. 1917 Jan. 2, 1889 Aug. 15, 1888 April 1, 1912 June 1, 1923 Feb. 1, 1905 Aug'90-Sep'91 Oct. 1. 1900 July t, 1898 Jnly '16 & '17 Jan. 1, 1894. track, 10 miles-total, l,0C0 miles; also, as joint lessees with the Central of Georgia, is inf;tjrested in the Georgia Railroad and its auxiliaries, 729 miles. Grand tot<tl of roads owned, leased and oontrolled by ownership of stock, June 30, 1888, was 4,0rn miles. In 1887 arran~ements were madeforextem1ion or a line which will 0011Aeo t with the Clinch Valley Division of Norfolk & Western. ORGANIZATION, LEASES, &c.-The Lomsville & Nashville was chartered March 2, 1850, and opened between Louisville and Nashville NovemtH>r 1859. The liabilities for interest on the auxiliary roads are treated mo8tly a~ belonging directly to the Louisville & Nashv. Co. The Southeast. & St. Louis RR. is leased for 49 years to the Louisville~ NM.h• ville. which owns and has pledged under the collateral trust deed of 1882 $980,0!·0 out of the road's ~9 ,i9,500 stock. The fiscal year of L. & N. end" June 30. Annual election is held early in October. STOCK AND BONDS.-At the close of the fiscal year (June 3011880 ihe capital stock was $~,059,361, and in Nov., 1880, the stock dividend of 100 per cent was made, raising the amount then to $18,133,513. All the dividends paid since 1870 were as follows: In 1871, 7 per cent; in 187~, 7 per cent; in 1873, 7 per cent; in 1877, 1111 per cent; in 1878, 3 per cent; in 1879. 4: in 1880, 8, and 100 pel' cent in sto6Jr; in 1881, 6; in 1882, 3; in 1888, i> per cent in stock; tn 1889 to date, ii In stock. Prices of the etook from 1872 to date have been: In 1873, 50@79; in 1874, 53@59; in 1875, 36J.g@40; in 1876, none; in 1877, 2611)41;in1878,351b39; in1879,35@89J.g; in1880,771b174; in Ui81• 791»110lg; in 1882.4619@100¾; in1883,40:ls@58lg; in 1884. 2219 @5131 tn 1885, 22@51¾: in 1886, 33581il69; in 1887, 5418 lD7014; in 1888, 50:lsa,61¼; in 1888 to Jan. 18, incl., 56¼1il58¼. Tne general mortgage of 1880 on !302 miles (Ctmtral Trust O.>., trn •tee) is for $20,000,000, or which the ba1ance unissued is reserved to pay oft all prior liens on 392 m~les, the otller 410 miles being su~j r et to about $8,750,000 bonds which are not so provided for. The !>on~ a.re b' d · · "i • d sn ~ect to a ra.wmg 81Il" nit iun of 1110 per cent of all bonds issued, plllil t e interest th;\li would have accrued on all the bonds so drawnabout $l 62 ,ooo in 1887-8. The Louisville & Nashville Lebanon-Knoxville bonds of 1881 (pledged undel' collatera.~ tl'llBt 3d mort. of 18 :,2) oover 110 m., subject to prior hens, and ti.! miles from Living-ston to State line as a first lien. The Pen. & Atlantic bonds are guaranteed by L. & N. The P. & A. has issued to the L. & N. $1,000,000 bmd grant bond& pledged for advances to the P. & A.. The third mortgage trust deed of 1882 is made to E. H. Green and John A. Stewart as trustees, and has a sinking fund of 1 per 3'ml annually. the bonds being purchased or drawn ana paid off at 110. Thee& bonds are also redeema,b .e at any time at 110, and are convertible int.o stoolc. The bonds are secured oy a 3d morti,;age on the road ( nolndin~ tb.e L. C. & L. RR., 175 miles, and the New Orleans & Mobile Div~, 141 miles) . and by pledge of a large a.mount of stocks and bonds (see v. 4:i. o. 475), the par value or bonds being $9,633,000 and 111toek8 $18,529,700: total, $28,162,700. The bonds so pledged are mentioned in the table above. The 10-i0 adjustment mort. of 188-t /trustee, Central Trust Oo.) covers 783 miles or ma.in line and branches, subject to the prior liens, and is a second lien on the trust securities pledged under the trust; deed of 1882. See V. 39, p. 409. The mortgll'!:e bonds ot 1867 on branches are Issued at $15,000 per mile. U. 8. Trust Co. is trustee of the mortir~e, and the lien 011v-er,1 the Ct1mberland Val. Br., the lnd. Ala. & Tex. RR. aud others. (V. «. p.751.) The lt1t mor1g11 ge trnst bonds ot 1888 (trustee, Farmers' Loan & Trust Co). are iseoured hy bonds on the Birmingllam l\linet'al. RR. at $25,000 per mile. a'ld on tue Owensboro & Nashville RR . at$2 ,,00,.>per mit~. (V. 46, p. 5 l l.) '.file Pensl\Cola Division b :mds are subject to a drawing sinking fund or $5, • 0 ,) tilt 190••. inr.l., then $10,000, and so inor.}&,1ing. The Henderson Bridge Co. bonds a.re not a liability of tne L. & N. The bridge is owned by a separate company, with a Atook of $1,000,000 <par $1UO), ut which the L. & N. Co. holds $501,00Q; the Brtdge Co. is '(uaranreeii irross receipts of $200,000 per year by the several roada using it, a.n-i dividend of 219 per cent is paid ea.oh Feb. and Aug. OPEIUTlOl'i8, FINANCES, &o.-The Louisville & Nashville ayst.em has been developed in its present extensive form since 1879; the 100 per cent stock divjdend wai declared in 1880 and a. few dividends afferwar,111 in cash, but from '82 to '88 nothing was paid. Under a plan ad1mte<l in 1808 (V. 46. p. 45, 255) 2 p . c. in stock was paid in P'eb~ 1--88, t o represent surplus earns.. and t;hispoli<1ywa➔ vot,ed to be pursuea till July, 18~0. but not to exceed an issue of $5,000.000 stock in all. The a.unual rnport for tne year tndin~ June 3(), 18138. was published in tht1 CHRONICLE, V. 47, p . 4ll. The surplus net income over annual charges was $ •,608,7tl7. • Frniu July 1, '88, to D :>o. 31, '88 (6 mos.), gross earns., nartly estimated, wert- $-<,293,033, against $~,624,298 in 1887: net, $3,168,5831 a.ga1n11t i13,!)i0,8 t 9; i-11rplns (ino:nding other income) over ttxea .:harges, $i.J80,o74. ag;ainst $1.37::1,123. Fi,oa1 y ear e nds June :i0 For 1887-88 the report was in V. 47, p. 409,411, for the Louisville & Nashville proper. loi'1 4-N5, l~o 5 -8ti. 1886-87. 18R7-88. Total grosseBrns .... . $13,936,34.7 $13,177,018 $15,080,585 $16,360,2.U Opel'·g eL (exol.tax.) 8,182.255 8,213,2!t5 9,047,053 l0,'267,585 ------ - - - - ----!iet earnings . .••.•••• $5,754,092 $!,963,723 $8,033,532 $6,0 12,706 Per et.of ex. to earn. 58 71 62 33 o9 99 62'76 ..lillU.&BY, 1889.j RAILROAD STOCKS AND BONDS. MAP OF THE LOUISVILLE & NASHVILLE RAILROAD AND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .'INVESTORS' SUPPLEMENT. [VoL.XLVllL Sub11crlber11 will couf"er ,,,p. great fa vol' by giving IIBIDedlate notice of' any error DESCRIPTION. Mil Si'ze, or For explanation of 1:olumn headings, &c., see notes of es ":le Par · on fl.r1:1t page of tables. Roads Bonds Value. 0 u dl■ covered In these Table•• INTEREST OR DIVIDENDS. · Bonds-Pl"ino.• Rate per When Where· Payable and by P~}~~en~U: an · g Cent. Payablfl Whom.' Divici;nd. "tt1°~ Jraine Otnt' l-( Oontinued)- Leeds & Farm. R.R. M. c 36 30 71 . •.. Androscoggin Railroad, Bath City loan .•....•... <' Portland & Kennebec, consolidated mortgage .•. (I Dext.er & Newport, stock.......................... do bonds ..•...... . . ............ lla.mhu. d!Law.-Stock, lOp.c. ren'l till 1937,B. &M. Manhattan ( Elev.)-Gonsol. stock ....... . ..•...•... . Metropol. El, 1st M., $600,000 p. m., $ & £ ..•. c• do 2d M. (guar. by ManhattanJ ..... o• N. Y. Elevated, 1st M.(payable at 105 after 1896) Consolidated mortgage (for $15,000,000)....... 1871 $100&c. 1866 100 &c. 1865 100 &c. ·ioo ·26 32 18 18 14 . ••. JCa~l/:~:::,;~i, .ct ·ii.:.:.i'st M::ioi<i;iiiii.r:Miiiei:aii Mariettad! North Georgia-lstM., gold,$7,000p.m. . ¥5 112 Consol. 1st M., g. $4,500,000 ($17,300 p. m.) .. c • Marquette H. d! 0.-0oinmon stock ..•............... Pref. stock (6 per cent rental, D.B.S.& A.) ...... c• lat m., M.& 0., s.f., redeem. at 11 O (int. guar.) . . o* Mortgage, s.f., redeem. at 110 (int. guar.) . ...... c Mortgage for exten ; &c. (int. guar.) red. at 110.c* lstmort. onMar.&West.,red~atllO,int. guar.c* llem. d! Ohar'ston-Tenn. State loan for $1,736,906 1st mort. extended................................. 2d mortgage, extended....................... . .. . c Consol., gold ($1,400,0001st on 93m. in Tenn.) .. c• General mortg., gold ..•........................ C'&r ll~n Oentrat ( M~o.J-lst m,g.($32,000 p.m) .c"" Income bonds, conv., not cum. ($6,400 p. m.) .... r Coupon notes for interest funded, red. at 100 ... c* Debent.rsecu.bycollat.J(V.39,p.733),red.atlOO.c• Jru. Nat.-lstM., g. t$9,0.0 0 p. mL),ar'nat 100 c• .2dM., ser." A," g., inc. aocum tfor $16,675.000) .c* 2d M •• ser. "B.'' g . • ino non•ac. (for $16.675.000).r i56 156 50 90 "2i 94 . ••. .... 292 292 1,597 .••. ..•. .... 1,064 1,064 I 064 100 is7s 1,000 1,000 1,000 1879 1870 1888 1886 1883 1881 1887 1:000 lOO&c. is7i 100 &c. 1.000 1,0UO 100 100 1878 1883 1885 1,000 1,000 1,000 is54 1~000 1,000 1867 1,000 1877 1,000 1884 1,000 1881 1,000 1881 1884 100, &o. 1,000 1885 1,000 1887 1887 500 &c. 1887 500&c. INCOME ACCOUNT. ReuiptB1884·85. 1885·86. 1886-87. 1887·88. Net earnings •.••..••. $5,754,092 $4.963,723 $6,033,532 $6,09 2 ,7 0 6 I I 5 2 8 ,8 2 8 198,591 207,807 479,858 ----- ----- ----- ----$5,952,683 $6,513,390 $5,171,530 Totalincome......... $6,621,53 4 Income from invest's Dt.lbu1·1ement8- $365,317 $379,845 $370,814 $37 5 , 557 15,000 58,333 15,000 Rentals.... . • •. .. . ••. 15,000 · 4,118,207 4,026,543 4,085,706 Interest on debt..... 4,~49, 473 118,895 116,242 117,095 Dividends on M. & M. 130,33 ,l 3 ,453 49,299 44,815 55,470 Georgia RR. deficit.. Pens. & Atl. RR. der. • 238,943 Miscellaneous ·.... .. .. 7,5.42 ·ici,2.97 ··s·,440 ···· · ·•· Stock div'nd (5 p. c.)_____ _ _ _ _ _ _ _ _ _ _ 1,5 1 8,000 Taxes ........ • •······ Total disbursements. $4,637,806 $4,643,727 $4,681,338 $6,530,765 Balance,surplus~ .• • • $1,314,877 $527,S03 $1,832,052 .$90,769 -;-Iii 1884•85 $42,012 lncluded in expenditures was to be refunded, increasing the surplus by that amount; in 1885·86, $164,692 was to be refunJ.e.d; in 1 886•87, $100,591 was to be deducted from the surplus ; and in 188i·88 $218,869 to be refunded. GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR. A.BBetll1884·85. 1885·86. 1886·87. 1887·88. Boad,equipment,&c. $67,930,874 $68,433.991 $68,936,040 $72,104,199 Ttmber&quar. lands 689,941 598,746 434,816 474,<9 1 Stocks owned....... 2,005,590 1,298,347 1,708,98-1. 1,921,307 Bonds owned....... 4,249,861 4,435,098 6,262. 598 7,223,059 Stks&bds. held in tr'tt 9,527,878 9,527,878 9,527,878 12,0 27,878 1,771,487 1,935,654 l,f-.51,439 2,056, 612 Bill.8 & acc'ts. receiv. Materials, fuel, &c.. 726,624 926,262 1,044,803 1,21~,018 Ca.sh onhand ..•..•• : -!04,714 303,976 1,375,143 213 ,987 8o. & No. Ala. RR... 1,733,805 2,071,723 178,432 615,500 Nash. & Dec. RR.-... 603,250 61 8 ,148 632,140 663.591 Otherroads,r .... . - .. 1,567,793 635,978 2,230,943 465,8-12 Claims inlitigation.. 850,808 850,808 B50,808 850,808 5 Sinking fund........ o,ooo ········ 3 _44_ 2_,_0_6_8 _,6_6_6 Profit and loss.····· - _ 2_,4_ 7_:_, _ _ _ __ T tal t8 $94 591 970 $93 705 275 $95 O::i4 024 $99 834 892 Liti'mtit~8:!_ ••••• ' ' • ' ' ' ' ' Btock ..... ........... $30,000,000 $30,000.000 $30,000,000 $31,5 18,000 8 $633,000 425,000 1,166,700 12:l,000 175,000 1.000.000 25,210,770 10,818,000 4.000,000 8,500,000 Nil. 1,000,000 650,000 554,000 1,410,000 2,378,670 3,278,456 1,427,500 576,200 1,500,000 1,400,000 In trust 1,260,000 1,000,000 2,264,000 1,000,00() 48,605,000 10,221,<! 00 3,825,570 2,500,000 10,!JOO,OOO 12,265,0!'0 12,265.000 ------- ·---------1-----6 J. & J. Bost.2dNat.Bk.&Port. July 1, 1896 6 6 Q.-J. A.. & O. --1r do do do do M. ·&·N. Manchester and Boston. 1 Q.-J. N. ·Y .• 71Broadway. ~ g. J. & J. N. Y., Mercantile T. c(l. M. & N. do do 7 J. & J. do do do do g. J. & D. M. & B. do oo 6g. M. & N . N.Y., Fa.rmers'L.&T.Co 6 g. J. & J. N.Y.,Bmith,Oakman&R 6 g. J. & J. do do g 4 3 8 6 6 6 ---·A. F. & J. & M.& J. & A.. & D. 8. D. 0. July 1, 1891 April 1, 1895 Nov: i·;--isss Jan. 2, 1889 July 1, 1908 Nov. 1, 1899 Jan. 1. 1906 1988 Mar. 1, 1916 May 1, 1915 July 1, 1911 Jan. l, 1937 In 1883 N. Y., 10 Wall St. Aug. 15, 1888 N. Y., Chase Nat. Bank. June 1, 1892 do do Mar. 1, 1908 do do June 1, 1923 do do April 1, 1925 ··;· J. ·&·J. N.Y.,W.H.Brown&Bros. Jan~·i;·i9ln J. & J. do do Jan.1, 1915 .T. & J. do do Jan. 1, 1915 J. & J. do do Jan. 1, 192( J. & J. Boston, Office. July 1, 1911 3 July 1 do July 1, 1911 10 J. & J. do July 1, 1889 10 A. & 0. do Apr. 1, 189~ 6 g. J. & D. N. Y. National City Bk. June 1, 1927 6 g. M. & 8. • •••...•.• July 1, 1917 6 g. April 1 .••••• . ..• July 1, 1917 7 7 g. 6 fl. 4 g. William. Dowd, President, N. Y. (V. 45, p. 437; V. 46, p. 102, 191, 381,745, 802.J Louisville New Orleans & Texa11-(See map)-Ltne of road Memphis, Tenn., to New Orleans, La.., 456 miles; Leland to Huntington. Miss., 22 miles; Washington Co. branch, 35 miles-total owned, 513 miles. Leases-Clinton to Port Hudson, La., 22 miles; total operated, 534 miles. This road was built in the interest of the Huntington sys• tem of roads, and forms the connecting link in that sysliem across the Continent from Norfolk to San Francisco. The income l9onds are a first mortgage on 750,000 a.ores of land in the Yazoo Delta. The second mortgage bonds are "incomes," receiving interest only when earned; but no interest is payable till March 1, 1889; unpaid interest is cumu• lative, and bears interest at the rate of 5 per cent; these bonds may be paid off at 105. The Union Trust Co. of New York is trustee of the 1st and 2d mortgages, and Edward H. Pardee and Albert Crolius of a new land grant income mortgage whlch has been executed to take up the old income bonds; but none yet issued. Stock is $5,000,000. From Jan. 1 to Nov. 30, in 1888 (11 months), _gross earnin~R were $~,109,836, age.inst $1,912,b ~8 in 1887; net, $529,870, a~st. $575,53::'. Annual report for 1887 was in CHRO~ICLE, V. 4(j, p. 447: 1 886. 1887. $2,243, 2 11 Gross earnings ... •··························$1,803,784 1,521, 128 Operating expenses .•••.••..••..•••••••.••••• 1 •252 , 1162 $722 ,o~a N et earnings................................ $551,221 · INCOME ACCOUNT 1887. Net earnings . .•...•..••. . ••. ···························-········r$722,083 T a xes, rental and m is. expenses.................... $103,22 lnterest on bonded debt.............................. 445,600-548 .~25 81uplus income............ . ........................ $173,~b7 Mr. R. T. Wilson, Pres., N. Y. (V. 45, p. 512; V. 46. p. 447 J Lou isville st. J,ouls & Texa11 -(See Map.)-Louisvme to H en derson, Ky., 140 miles. Has contract with C'hesaoea lre Ohio di South· western for joint me of tracks from Louisville to \\ est Point, K y , 20 miles. Trustee of mort~age, Central Trust Cc . Stock, ,12,400,000; par, $100. Fjnancial agents W. v. .McCracken & Co., 42 Wall St., New York. (V. 47,p. 381,555,709; v. 48, p. 08.) Loui11vllle Southern._:_Owns from Louisville, Ky., southwesterly to Burgin on Cincinnati Southern RR., 82 miles . Completed in May, 1888, and in Dec., 1888. leased to Louis. New Al. & Chio. (which see). E xt t ns:on projected. Stuc1", $2,600,000; par, $100.- (V. 46, p. !80; V. 47, p. 45~, 745.) • Lykens Valley.-Ownsfrom Millersburg,Pa., to Williamstown, Pa., 20 miles; branch, 1 mile; total operated, 21 miles. It is a coal road leased and operated by the Northern Central Railroad sinoe .July, 1880, and previously by the Summit Bra.nob RR. The lease is tor 999 yea.rs from March 1, 1866, and the rental is $62,500 per annum. From Jan. 1 to Oct. 31 in 1888 <10 mos.), gross earnings from coal and mining 1.,pera.tions were $929,481, against $718,859 in 18!:7; deficit, $15,767, against !!'99,894. Maine central.-Owns Portland to Bail gor, Me., via Au~usta, 137 miles; branches, Cumberland Junction to Skowhegan, 90 miles; Bath to Lewiston R:nd Farmington, 76 miles; total owned, 303 miles. Leases -Burnham Junction to Belfast, 33 miles; Newport Junction to Dexter, 14 miles; Brewer Junction to Bucksport, 18 miles; Bangor to Vance• boro, 114 miles; Penobscot Switch to Mt. Desert Ferry, 42 miles; t & ORR Stillwater Br., 3 m iles; P or. g. ., Prtl o an dM , e., to L unen b urg, 92 miles; total leased, 316 miles. Tota.I oper. Sept. 30, 1888, 626 miles. In Au;!ust. 1888, leased Portland & Ogdensburg for ~9~ years and guaranteed its l ond~. Tnere are also $58,000 5 per cent debenture bonds due Feb, 1894 and $42,000 Shore Line 6 per cents, due 1923. Dividends since 1876 have been: In 1882, 2 per cent; in 1883, 5½1;. from 1884 to 1888 inclusive, 6. Fiscal year ends Sept. 30. Report for 1887 8 was in V. 47, p. 774. 1884.•85. 18&5·86. 1886·87. 1887•88. Total gross earnings $2,839,779 $ 3,001,076 $3,142,407 $3,389,007 1 .948.480 Expenses and taxes. 1.730,902 1,820,7 1 0 2.199. fl 82 Net earnings..... $1,108,877 $1,180,::i.:.6 :ti1,UJ3,~27 $1,1811,h,o INCOME ACCOUNT Receipts1884·85. 188;:.·86. 1886•87. 1887·88. ~et earnings .••.. ~.. $1,108,877 $1,180,336 $1,193,927 $1,189,125 Other receiots....... 7,828 7,400 8,870 9,919 Total income.... $1,uo,705 $1,187,736 $1,202,7~7 $1,199,044 Bonded debt*........ 61,958,314 61,355.254 61,999,596 64,040,660 Louisville bonds.... 850.000 201,000 . . . .. . •. . .. ... .. Bill.8 payable... . .... 189,279 41,229 377,796 474,229 Interest •.•.. _.. . • •• . 499,435 501,52-1 504,929 527,360 Sundry accounts.... 34,774 34,327 327,918 314,865 June pay-rolls, &c.. l,G60,168 1,571,937 1,287,874 1,444,822 l'roflt andloss....... 535,911 1,508,950 - •-·- --- •~ a l liabilities .. $94,591,970 $93,705,275 $95,034,024 $99,834,892 * The bonds deposited in trust have been deducted here. t LesR bonds pledged. ,r Advances, &o. v 45 26 ' 239 ' 304 · 40..7 4'"'1 4 v 46 45 75 ' 255 ' 35 •':) ' -, • 'p. .., • ' ' 72 ' 474 : · 'p. · -i81, 511, 678, 739, 771, 302; V. 47, p. 109,161, 20.:.., 409, 4 LO, 4 l l, -' 26 , 4 i 2 ;V. 4 8,p.68 .) Loul•vllle New Albany & Chlcago-(Seemap)-Operates fror•, liew Albanyi Ind. (opposite Louisville, Ky.), to Michigan City, Ind., 289 miles; How and Junction to Hammond, Ind., 160 miles; Bedford, Ind.. to Switz City, 43 miles; Orleans, Ind., to French Lick Spr., 18 mUes; total owned, 510 miles; leases-Hammond to Chicago, 20 miles: Howland's Junction to Indianapolis, 4 miles; New Albany to Louisville. 5 m.; Louisville 8o., Louisville to Hur~"'in, 82 m; total leased, 111 m. ; t Ind total operat e d , 621 m. A 1ease f or 9 9 years WI·th Chic. & wes· · at $127,000 per year gives entrance to Chicago. The Louisville New Albany & Chicago was opened in 1852 and solr In foreclosure Dec. 27, 1872,and reorganized. In Aug., 1881, consoli dated with Chicago & Ind. Air Line, and stock increased to $5,000,00(' giving 15 per cent increase to stockholders of record Aug. 31. In Dec., l 888, leafed the Louisville So. and guaranteed interest on ih londs, all net earnings to !le shared by the two c ompanies. Of the consol. b'a.s ol '86, $5,300,000 was reserved for prior first morti, From Jan. 1 to Oct. 30 in 1888 (10 mos.), gross ea1·nings w en $1,911,322, against $1,896,869; net, $703,047, against $611,785. Fiscal year ends De<'. 31. The annual report for 1887 was in v. 4 f' p. 381. Earnings, expenses aud charges bave been as follows : .Disb-ursements$192,573 • INCOME ACCOUNT. Rentals paid........ $189,000 $189,000 $189,000 734,031 1885. 1E86. 1887. £ntereston bonds... 701,767 707,1:iO 717,068 215,604 Gross earnings .••.....••..••.••• . $1.680, 45 4 $1,9l9,189 $2,295, 62 : Dividends ..•. ···-··· 215,541 215,578 215,598 $1,142,208 Operating expenses.............. 1.3::\2,035 1,278,528 1,489,691 Total disburse's $1,106,300 $1,111,708 $1,121,666 $56,836, ---Balance, surplus.... $10,397 $76t028 $8 l, 131 Net earnings •••••.••....•••••• $348 ,418 $640,661 $805,92 -(V. 45,p. 820,854; V. 4 •··, l>• 573; V. 47,"t>, ·50, 7'74.) 64 ·~i P. o. of op. ex. to ea.me...•.•••.•••. 79·27 66 .~ 2 Manchester & La-wrence.-Owns from Manchester, N. H., to J1eductM:ethuen (State Line), 2214 miles; leases Methuen Branch, 3~ miles; to$5-19,81 $369,300 $461,538 nterest ... . ..•.•.•.••..••.•••.•••• tal operated, 26 miles. Road in operation since 1849. 228,o4 217,951 223,8b9 RentalB, ins. & taxes....•..••.•••• Leased for 50 years from Sept. L, 1887, to tSoston & Maine at a rental 50,000 Int. on car trll8t .bds. . . . • . . . • . . .•. ~o.ooo · 25;00, paying 10 per cent dividends, at which rate dividends had beeu paid $637,251 .,wo,407 $003,4~ Total charges .•••............. 'or many years. Gross earnings in year e ding March 31, 1886, $:. 7,•• uet, lflQOtf>6!:I. In 1886-7, grose, $172,524; net, $100,691. +$2,i6\:> Jlalanoe .••.... .. ~.. . . . . . . . . ...•••• -$288,832 -$94,747 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis aoz; JANUARY, 1889.] ~- RAILROAD STOOKS AND .BONDS. "' - Mayfie1u «· https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ___.._ AND ITS CONNECTIONS. ,, ., 76 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. [VOL. XLVlII. MAP OF THE LOUISVILLE, NEW ORLEANS AND TEXAS R. R. The rulod sbAcling inclic:.tee Land Gran.I JA>roABY, 1889.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. 77 E j ( MAP OF THE LOUISVILLE, ST LOUIS I AND TEXAS RAILWAY, A.RD C_O NNEOTIONS. I .··:. ·l l- INVESTORS' ~UPPLEMENT. 78 liln l!ICrlbPl'~ wlll conf'er a g-reat f'avor by glYlng Immediate notice ot any error discovered In these Table8. D1•;SU1:Ut"l'LV~. · (Vor... XLVIIl. I Boncts-Prlu.«- INTEREST OR DIVIDEND8. . . D M. pal When du~ t ate 8 1ze, or A 11es Rate per Whljn Where Payable and by Stockll-Laet Par O t 8~c"aJ of of Dividend. Whom.' Payable u I! n n g Cent,. Road. Bondi:! Value. l'or explanatio-r. of ""'nmn hea<l.h1 •'R, &c., see uotes on ftrst page of tables. M it:ttll i\lu1i o1<Ut- ( (Jo,.t ~,, ,11; 11 ; . au ruor~.. deb (in<>, not cn 11}. ,rol --r . . . • . • • . . . • . . • r , 1---------------~--1 --· --- ---- - - - - ---- ---- -----------1------- 'i'oxas•Medcan,Corpm1Cb.H.D.,\·R.l1 , 1t-tM.grtr• l~l l@t M, i,(Ol1i ($1 5.oOup. lll.) ••.••. (• · lfH do . ltuhiga~ Oe11tral-St1wk ...... . ... . ... . ... . . ..... . ... l, ,J7 •:01Jso11,1att>.ti mort,..ug-e(fl:2.••'n.oooa.r e 51-11.1•.&r "1.70 M. c .. ~ ·wlJ,~an .'l 11 ! ,lllf', 1 t :\I. .. : . ···• · .. . c. & ,. 10.l 10 M1ch1ganA1rLmelist:\f..11.i-,,1w,.-,1nvM . f' .. 1•. &1 84 M. < • b •nos. UIOl't. ou Un, or! Ri Vt-•r Val R 1{ .,•• ,Ii r 3~ Kal /1.Y. f'I: ~f., ll'lt & :t<l. ,u., ~.$711,0 1 ,2,1,.,,1 ,u/9 1 (•. & 1 84 (frarnll<.h1:,r VaUey. 1"1r111·K., ;!'11:11• .. .. .. ... . ... . . l>etJ'lllt ,\-Ha.VIJlt,\ l1-1t.-w'd.awl IJri,il,{f-' . ... <•.&•· l •l;-, ~[. C. 111,,,·t. 1111 n ..t,· 0 it & H:-t.y 1'11.r Hailroa,l .. e. ,11, r 1 -1-:i Jacl,.l,f!W',<\· Rag.c·on.w.(~1.7:! ~•.,;00a.•·P.x1-1) .,\!I' 2!-l~ 13 M11l<ile1.,,w,.1.,11. <1- , • tm,p-J.. ... r 11., .x•. ~fi, r:;. iu 'S6.t"· !M 1uort. ,.mar .. •.. .. l.l do do ·• JI II'. Lto,I'. Shn,•,;., lf'p!1/-C11rn 111 11 stock. ... . ...... flt'.!'? .. . . .. . . . . 592 .t'referrt-il 11to,·k. 7 p •r •·en1 . ... . .. Con8ol. 111nn . for 'i-5.110 ,,.,, O ( p1.2 .00 1) p. m .) ,!(ol,l :Ho . .• ..r tnconw l•• •nrt ... (1101 ,·11,1111!:itl\ , •1 . • .. .. Eq_utpmt•nt houd8 of I -~2 (;¥:-i o.- Oil r efi . ye:irly ,. M1cl.11g,, n IJl\' ., lat 111orr!(. ~olll ,for -fH.ovu.uulJ•<'' · fi·. 40 . . . c• AshlawlDl\·il'linn. lt1t 11wrrKa, t'l.golll.... 5H 8t. Paul }t~at1•e 1·n, :rd Trnn h. 1t1t."' ,I I. mt.~11a.r.,,.. Equip. b ,,,... 1~8f> (' 00,0 ·JO r.-,:. ,n,:i,·l.r 1 11 .J '90 ·. con'"t-rt. ,1,-ti1•un11·~-· t'• r $~.o ,o.u.iu \!c.lcl . . ... . .:.. l '1 lst M.,. ttll II.1: l<'j & CJ •to1 1. 1,r111H' bt-!l ( l r. at 101) .1' ~fi JC iwm, k.,•f'> di LvkP- Wi1111ehay"- 1.. r n1111·r . . !?"Ill. . c* G5 wuon1e 1m11l!i. //,'Old (1m11111 :Hivc> i . iiH. p1;cl ••. . <•* n e1>t>nt11re1,, ~olcl, le•see p11,v.- in1. ti ,l L:W4 ..... c: 126 IC lw1·,tk.ee~Nort1u,•11,-LRt uwn,rn,ze ............ c ~ vnsol. rnul1f· 1+:.1. 7,UoO 1•n· m ile) . . ......•..•• c~ 1 77 1R87 1 1'1/:!0 18:31 1~72 1Q'7() 1.noo ~ti0.111)0 1.:J ... 0.00•) '71-l-~'- 1.M·) 1.000 1.000 l,OOll 111n lR7'2·:'{ J~7(1 'th-1-70 $7.040,00 ~ 1,()00 1,000 100 1.000 lM,i::J~.~114 10.oou.1100 l.~f)(l.(Vn 200.0110 1, lOll.000 7 ro.001, 4!H.:mll 1,000 4'.tl,000 _1lg_-3J(ll l'.0011 1 J.OUO :=J.!)7fi.ooo 2,~ml,000 1 °,0.000 ,,... HHW Ov \i ,·. 1871 5 , U,lw 10 18>! l t~•n 18~:! 1 q •-l l~~ 18 -.~ l"'Q'5 1 ~~7 i 880 1~ -12 1R9 2 18~4 1880 1884 t 100 1,001• l.t)OO l,OO<i l,Oi/0 , • •>< · 1.0' '0 1,0 o 1,0, 10 1,0011 1,000 ).(100 1,000 1,000 1,000 '.!fiO.O ,o 2,0U ' 1. " 1 1 5, ,oo,,,oo ~.67 i.1J111.) :-lO'I.C) l •, 1 , O,o. ,o 1, !Kl.11 o 1.no,1 ,000 973.00il fi •0,0 le) 2,000,oOO ~1)(),000 1,430,000 520,000 200,000 2 ,155 .000 1,389,000 . ... ..•.•• May 1 6 g 7 g. ,J. & J.N.Y.Otlice 3iNassau . do ' do 6 g. J. & J. F. & A.. N. Y. , Gr. f)ent. Depot. 2 7&.~ ~i.&N . N . Y.: UnionTrustCo do (U J. & J. l:s do do M.&N . 8 do do :\l. & 8. 6 do du ,1. ,\i N. l':i do rto 2½! .J. & .J. do do M.& N. 8 do do :\f. & S. ~ do do 6&8 .\T.(ltl:! . , .r M. ,<!: 'N. N. Y., N. Y. Snsq. & w. do do J. & D . N.Y., N. Bk. of Com'rce 4 do do :!¼ F. & .-\. do do o !(. M . & N. do do i\l. & N . 6 J. & J. N. Y., S. 8. Sands & Co. 8 ti ~• •T. & .r. N. Y. Bk, or Commerce do do 6 f'. >I. & 8. <lo do t ; g. J. & ,J. do <lo J. & J. 6 ., g. F. ~ A N. Y., Bk. of Commerce 6 g A. & 0. N. Y .. S. S.8ands & Co 6 g . .J. & .J. N. Y.,36 Wall St.& Bost. do do 5 ~ . .J. & .J. 6· g . A. & 0 . New York & Boston. J. & D. N.Y.,Merch.Exch.N.Bk 6 do do J. & D. 6 5 ,., . 1937 July 1 1901 .July 1: 192) Feb. 15, 1889 May 11902 1 goo Jan. Nov.l,1890 Sept. 1 1909 Nov. 1 , ;l:!~·90 Jan., 1889 l\1A,y l 190:l-3 Mar. '1, 1931 Sept.11891 N ..v. 1; 1911 Dec. 1. 1896 Jan . 14, 1888 Feb. 1 ~ 1889 May 1,' 1921 May 1 , 1911 Jan. 14, 1892 July 1. 1924 Mar. 1, 192~ J au., 1, 1913 1890•95 • Feb. 1, 1907 April 1., 1890 July 1 1912 July 1: 191, April 1, 19QI. June 1, 1910 June 1, 191~ 1: ·a/ In the Y<Hr ending .June 30. 1888, gro!i's $1,759,732; net. $499,757; Ttianbattttn EJe-vatcd.-Roacl operated, 32·39 miles. This was oorpora1 ionforuwd (Nov. 24, 1 ,,)) t,) lease a.ndoperat.e Uw two elevated · surplui;1 over mterest. &c., $103,179. .Report in V. 47, p. 623. For the year ending June 30, 1887, gross earnmgs were $1,606,772, rattroa h• in New Yvrk Cit,v. T he ori¢nal lease of May 20, 1879, gmtt·· tom • eo lO per ceut per t1,nuum on t he stockR. In June, 188-1. a :l liabili- net, $Ul,280; surplus over interest. etc., $20,021.-(V. 45. p. 26. 180 47, p. 623.> tleR were assm:ped, anrl new stock was issued by the Manhattan Co.. viz: 239, 27i, 304, 437, til3, 703, 727, 7'42; v. 46, p. 255; }'or M:rnhattan, 85 per cent in new stock; for New Yo1·k, 120 per cent; the mile 1888, Dec., MaJJ.)-In (1'Iexlco).-(&e Central l't.lexlcan $2fl,uno,oco. stock whole t!Je making fur Metropolitan, 110 per cent, Cit) north, to El Paso del Nortfl, 1,224 mil~, 'I'uere are large claims pe1,diug against the elevatt-d roads for damage age Wltlo -Main line, Mexico mllee 161 Branch, Guanajuato on miles 11 Dn·ision, Tampico on rnlles 117 In to property on their lines, anfl many of these are befor e the courts. Division, and 17 miles on the Paoifl.c Division, 60 miles June, 1 E88, it was resolved tbat the balnnr e or n et earnings, aftn pay• on Guadalajara Division, a made quarry, stone to miles, 7 branch, a and Luis San the on 1ni the dividend, be appropriated to the payment of jud~mentA and total of 1.597 miles. Other work in progress. · claims agamst thP. company tor llamages to abutting r eal es ate, and in law general the under 1880, 25, Feb. incorporated was company The 1887·'8-i t).lf;re waR ·so pa.id $513,770. the company holds a charter :l'.rolfl Dividends llave l>eeu: In 18fl4, 3 per cent; l88~ to 1887, inolu,.ive, 6; of Massachusetts, and by transfer granted Deo. 5, 1874. The company has a 1n 1~88, 5; in .1889 t •, d ate. 1. Range of pric,.s of consolid ated stock the ~Iexican GovernmE?nt. fro11 the MeXIcan Government of $15,200 per mile on most of since 188::s has been al'! follows: In 1884, 64'-9@79; in 1885, 6 5@1~3½: subs~dy Imes, payable with 8 per cent of all duties. After suspension 1n tn 1886, 120@175; inl887, 92¼@16l7s; in 1888, 7734@9133@; in 1889 10 the lfl85 the payment from rlu1ies was r eaumtd, and wa-s 1 p. ct. .Jan. 1, Jan. 18, ln<'lusive, 90@(}5lg. and after that l per cent more every six months, till .July, 1890, In 1886 the debentures or tbe New York Elevated were issued for 1887, t'ull 8 ver cent is reache ,. The incomes are convertible into stock advances made by the Manhattan Co. and in 188>! $15,000,00u new the The stock is $38,500,300. par. at bonds were auth,nized to cover all these and to provide for future needs, The above 10 per cent coupon notes are secured by rtepostt of coupons, but none yet isf'lued. See V. -1 5, p. 856: V. 46, p. 75. amount or Mex. Gov't subsidy certificates equal to the prinan by and Fiscal year ends Sept. 3<; rei-ort for 1887·88 was in V. 47, p. 592. cipal and int. of the coupon notes. or the 1st mort. bondP $2,500,000 18',7•8. 1886·7. 1885·6. 18~4•~. adtlitional are deposited as collateral for the debenture bonds. Gross earnings ..•..... $7,000,567 $7,426,216 $8,102,662 $8,673,8 ., l In Dec., 1885, it was arranged to reduce the interest on 1st mortgage 3,960,191 4 ,970,450 5,201,0511 bonds to 4 per cent, with an agreement to pay the remaining 3 Operating expenses ... 3 ,967,983 per cent in any year when earned, but not to be cumulative. Net earnings ..•. $3,032,i'>B4 $3,466,024 $3,132,212 $3.472,8 , From Jan. 1 to Nov. 30, Vl8-l (11 mo.,th"l, gross earns. were $5,035.1,554.Cf!O 116, against $4.346,52! in 1887; net, $1,978,737, against $1,882,3-58 1,806,39~ 1,554 080 Intierest and rentals... l ,45!:'1,043 (ii• Mexican currency). Balance ...••.... $1,573.5 H $1,659,631 $1,578,rn~ $t,918,7"1l The annual report for 1887 in V. 46, p. 572, 576, showed: 1,560,000 1,560,000 1,300,000 Deductaivit.tends . ..••. 1,560.000 v. INCOME ACCOUNT. $611:1, 741 $18,132 $99,631 $13,541 Surplus............ Nmu oer of pas~eugers car,h-d on the t-levated railroads in New York, and the gross earillngA, sioce the completion of t!Je roads: Passengers. Earning11. .Passenger.q. Earnings. 1878·79 .. 46,045,181 . $3,52(;1,l-'2:1 1883·84 .. 96,702,620 $6,720 .859 ';,00° ,566 4 ,612,976 1884•8fi.. 103,354,729 l.879-80 .. 60,831,757 7,426,21h f>,3ll,076 1885-86 .. 115,109,591 l.880·81.. 75,585,778 8,102,662 5,973,633 18R6•87 .. 158,963,232 1881·82 .. 86,~61,029 8,673,871 6.38d,506 1887•88 .. 171,529, 89 1882·83 .. 92,t.24,943 -(VJ 4n, p. 272., :-04, 641, 673, 727, S36; V. 46, p. 75,228,289, 511, '650,802; V. 47:,P. ld8, 592. 594.) 1887. 1886. 1885. Rueir;tsGross earnings .•••...••.••..•••. . . $1,5:)U,i>ol $ :3,857,706 $1.8!36,578 Net earnings, &r. (U. 8. currenr.y). $1,30~,39'5 $1,102,072 $1,680,29& 204.,84~ 58,437 590,35~ Net @ulJsidy rec'd ( U. 8. currency). Marietta Oolumbu8 & Northern-Road from Marietta, O., to Jov, 0., 41 mile": tmrnch Big H.un to Stuart, 4 miles. Formerly the MariPtt3 MJne-ral road, and name changed (no foreclosure). 'rhe bond issue i limited to $ h50,ooo on 45 wiles of road In 18f<8 paa,ie, under the control <>f tlu, T oledo & 0 Lio Centr , l Ex1ensh1n Co. (See a flubseq uent page.) From Jan. 1 to D0<'. 31 in 1888 (12 mos., gross ea"lltn,c.rs were IB ➔ • ,269, against $6 H 804 in 1R87; net, $3El,i51. against $::$1,736. In lR87 net earni !!S were $45,210; surplus ovtir fixed eharges, $9,210. 'Walrer Stanton.~0 Broadway, N. Y., Pres. (V. 46, p. 38.) Marietta&; North Georgla-(See .Map)-Owns Marietta, Ga., to Murplly, N. C., 111 mU11s, and nranch, 7 miles; total, 118 mile<!. Road is nuder construction uorth to Ku ,x ·y file. Tenn., an!l s outh to Atlanta, Ga., which wi ll make total mileaP."e, inc1urttng branches, 260 miles. Stock is $1,560,000. Ahout $ t,5oO,OOu ha , been suhscribed by interested partitlA, including ~~75 .000 bv tbe cit v of Knoxville. The Central Trust Co. of New York is trustee of the cousol. mortg., issued to exte11d the road, wid,·n thlj J;{auge aud retire old bonds. Alter 1 ➔ 97 $1n,OOO yearly will be paid to a sink.iug fund for these IJOnds. The old bonclt1olr1 f>r ~ can exchange for bonds of the new issue.-(V. 46, p. 75; v. 47, p. 499.> Marquette Houghton & Ontonagon.-(See Map Duluth South Hhure ".A..)-Owns trum M.ait1 uette, tlicu., to Houghton, 113 miles: branches, 4~ miles; total operated, 156 Oliles. Has a land grant of about 80,000 acres. Business consists largely of transportation of-iron ore. Leataed in perpetuity fro u ,,ril 15, 1887, to t,he Duluth Routh Shorr & Atlantic RR., rental bein< interest on oondis and :H96,707 in cash, beit ,g equal to 6 per eent year ,y on the prtf. s ock as it stan<l.s above. In year ending F eb. 15, 1 88, !! ro~s earnings were $1,110,264; ner, $518,726; sm plus abovf> fixed charges, $195,9:,4; di,idendi.; paid 16 per -cenr,) $196,707; loss to lessee· , $754. Balance ....................... sur. $473,169 def.$40,56-i def.$10,46 -(V. 4 o, p.102, 191, 537, 533, 558, _6'72, 616,678; V. 47, JI• 626, 745.c .l'f.lexlcan National Railroad (1'.lex.)-(See Map)-Owns frolll Lar.-:do to City ot Mexico, 84~ miles: Ao1;1,p:11Jaro to Pa.tzuaro, 96 miles El l:lalto branch, 4.5 miles; .MatamQ · as tpJ~an Miguel, 76 miles; Blllilli br~cues, 10 miles; ·total own;ed, 1,069 rnJ,1.es: · controls through o~~~ ship of stock, Tev.a"l l\lexican -Railway, 0-orpus Christi to Laredo, Tex , and beancb, 163 ,niles · o t her- fine~, 5 mtles; total owned ·and con~olle<t, 1,2.:!7 miles. Thisroa.:l warnotnplet':!d in September, 1888, and opened for trattic a.oout Nov. 1. 'rlie foreclosure of the former company took place on Mat.y :&dd. 11387, allll the present (Mex . N ,.t. tta.'lw company acquired 716 miles or road. and rhe control or the Tex8f Mexicau Railway lr->m Larc:d > t-o Corpus Christi. Texas, 161 miles., b:y the purchase or $24~.ooo 1st wort. bonds ou 0, of a to •al issue of $lJ60,000; $1.196.• ·00 2d mortgage bonds out or a total issue o~ .. 1,380,0 ,0; $2,453,750 of its capital stock out of a total issue of. $2,5011,0 O: the Brownsvil e & Gulf Railway, 1 mile, by the purdhase uf Lts capital Atock of $25,000; the ·.rexas Mexican Northern ch ~rter, l>y the purcha :e or all its capital srock, $100,000. The :oew nr.st morrgage ror $12.500,000 1s a prior lien upon all the lines in Mexico, cons1rueted or to be c rmstructed, and upon tlle abovenamed sec11nties. The bonds are redeemable on notice at par. TrusttleS, l:lngh M. Matheson l\~d Obar.rs Magnia<'. Of therroceeds of th!s iss u.,, .;; t ,650,000 was provirted fur interest and capital r ei:1ljrvo, Lhe re• maindljr being for reorganization expenses, payment or certain debt of old company, and for tile construction of 3f>2 miles of main line and a branch uf about 75 miles into the l::!abinas coal fields. of the securi1ies issued in exchange for old securities, the second mortgage bonds SPries .. A" are strictly cumulative, and not fore• closa.ule wh,le stock remains in 1 rust as below stated; the second mort• lo(age bondA series •· B '' are non•cumu1ative; trustees, Lyman K. Ba.MS a.nd J. A. Horsey. Tuird Mortgage Income trustees, C . .J. Ca.n~a and H. A. Risl~y. Stock. $3J,35o,O 0, (par $100) placed in trust with the Farmeri:1' Loan & Trust Co., leaving the road in co1.,trol or :fl.rRt and second mortgage bondholders until the road earns and pays interu,L on both clas~es of bonds for two consecutive years, in wh1cn PVent the control r everts to the stockholders. From J an. l to Ocr. 30 in 1898 (10 mos.), gross earnings W'3re$1,912.582, 1:1,gaini.;t $1,443,425 ill. .1.!:lo7; uet, $o,v08, al{atust. $t66,26~. la last five months of. 1887 net earniugs were $61,327; (V. -l5, p. 232, 5a7, 678; v. -11, p. 200, 410, 454, 53~. t64, 709). Tptal net income .•••••••••••..•. $1,893,747 $1,160,!)09 $] ,885,14(> Di.,bursements- $384,0 '1.7 731,480 187,500 ~ t2,571 $iJ16,313 $ *192.013 736,710 1,254,671 250,000 187,500 74,61, 84.~50 Total. ............................. $1,4t5,f>78 $1,201,073 $1,895,60,2 One year's int. on con. of '89, ca,gh. Cuti. t n 1st mort. bonds, oash.. . . •. . Int. on d ebentures, cash........... Miscellaneous........ . • • • . • • • . • • • . . ,y, l't.lempbl8 & Charle8ton.-(See Map of East Tennessee Vir• . (,,i n <I Gem·gi-a).-Owm, 1'1·01u Memphis to Stevenson, Ala., 272 miles; branches-to Somerville 14 miles, to Florence 6 miles; leases, Steven• 10n rn •' lu1tt,,noo~a. 40 milPS: total operated. 330 miles. Of the cono11dat.ed mortgage, $1,400,000 are secured by the old Tennessee State l1lj11 "" :i;1.,,i1t>, ,uu, 111,t!riJKued to a trustee. ano till.LS srand hi~her in v1l•w. TlJe.r P Hre 11,li:>o <·ar trn11ts. The ► to k is :S5,31 :.'..725; par, $i'5. The East Tennessee Virginia & Georina R.R. in Sept., 1885. placed a ma..1u1·11y of thlj swck \ wllich it owned, in the Central Trust Co. for control. The valldit) of thi"' owne.r ship or st.ock is contested by the mtnntltv stoc•kholden. and a smt is pending. lfflch,,ean Ct."ntral.-LINE OF RoAD.-Main lln~Kensingt9n to From July 1 t.o Nov. 30 in 1888 (6 mo!-1.), groi:>R earnin~ were $617,• Det~oit, "J.70 miles; and Windsor ti> Suspen.sion Brtdge (Can. So.). ~6 ~•5, against $793!054 in 1887; net, $46,602, ag&in.st $2~3,525. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, 1889.J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS A.ND BONDS. 79 ~ - \S' P e)'t8na o Oceana MAP OF THE MARIETTA NORTH GEORGIA AND RAILWAY & CONNECTIONS. MAP OF THE MEXICAN CENTRAL RAILWAY AND ITS CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1889.J 81 RAILROAD STOCKS AND BONDS. MAPOFTHE MEXICAN NATIONAL RAILROAD AND ITS CONNECTIONS. 82 [VoL. XLVIII. Subscribers "'IVlll conf'er a great f'avo-r ·by ~.«vine; t.mmedlate notice of any error d.lscoverell ln these Tables. DESCRIPTION. . . INTEREST OR DIVIDENDS. Bonds-Prinot• - - - - - - - - - - - - - - - - - - - - - ; Miles Date Size, or Am t . pal.When Due. For explanation of column headings, &c., see notes of of Par Outst~~g Rate perl When Where Payable, and ·by Stocks- Last . on ti.rat page of tables. Road. Bonda Value. Cent. Payable Whom. Dividend. Mine Hill ti Sc/iuylkitt Haven-Steck ';' ¼ % rental .. Mineral Range,.....Stock ••••••••...•..•. .... ..•...••.•• . 137 .... 17:lg 1st mort., due June 1.18 "'8, but not paid ..•..••. 12~ isfa 1st mort., gold, on Calumet extension .. ....•...•. 4¼ 1885 Houghton exteneion, gold ..•...•........•..•• ...• . . . . . 1886 Mortgage of OctQber, 1886 ..••.................... 18'!6 'lfinneapatis ct St. L.-lst M., Min. to Merriam Jcn.c• · 27 1877 1st morte;age1 Merriam Junction. to State Line .. c• 93 1877 let m.,Minn.& DuJ.,Minn to White B.Lake,guar.c' 15 1877 1st mortg., gold. coup. (Al. Lea to Fort Dodge).c* 102 1879 Imp. and equip. M., 1st& 20.ser., jun. lien on r'd o* 360 1882 Mort. on Southwestern. extension \$12,0o0 p.ru.)o* 53 1880 2d. bds.,in.o.,5& lOyrs.(WhtteBeartoFt.Dodgelc• 224 1880 1st mortgage, gold, Pacitlo Extension. . . • . . . • . C* 92 1881 Minn.St.P.ctS.S ·e.Ma1•ie-M 8.Bt.M.& At.,lst M.g .c• 495 1886 Minneapolis & Paoifio-lst M., $15,000 p. mile o• 286 18 ➔ 6 Consol M . (for $21,000,000), $20,000 p. m., g.c* 800 1888 11.vsissi-ppi ct Tennessee-1st M., $2,500,000 .. c* & r 100 18ti7 11.iBsaun Kansas <l Texas-Stock ($5,157 pref.) ...... 1,611 lstM.,g,s.fund,lan.dgrant(U ..P.8.Br.),red. at120 182 iS68 1st mort,. gold (Tebo. & Neosho) s. f., red. at 100. 100 1870 lst&2dM.. t!an. & Cent. Mo.,(:.!dM.,$32,v00,1892) 70 1870 Con.sol. M., gold, on road and land (red. at 100) . . 786 1871-3 2d m., income, exchangeable for gen.l. m. 5 per ct. 786 1876 Booneville Bridge bonds, g. guar., drawn at l 00 . . ... 1873 1880-6 ~~ti:~l&~e~:ii~~?~?~~~~~:.~>.!~~:~?.~~-~~: 1,565 18 0 Intern.at. & Gt. North'n, 1st mort., go1d........... 776 1879 do 2d mortga~e, gold . .•. .••.. .....• . c* 776 1881 do Colorado Bridge bonds, sink'g f'd. . ... 1880 miles; total main line, 496 miles. Branches owned and leased-Mich. Ji1LineRR.,115: Jol.&No.Ind.,45; GrandRiveryalley, 84; Jack. Lan & Sag., 295; Kal. & So. Rav., 39: Det. & Bay City, 152: B!l.g. B ay &I No. w., 64; branches 85. Tol. Can. So. & Det.. 56; Can. So. Br. Co., 4; Mich. Mid. & Can., 15 ; Uan.ada So. branches, 99: Sarnia Chat. & Erie, 7; Erie & Niagara, 31; total branches, 1,0:t7 miles; trackage Ill. {::ent., 14 miles; total operated, t,537 miles. £here are 157 miles of eooon.d track and 624 of side tracks. ORGANIZATION, LEASES, &o.-The Michigan Central was chartered in 1846; the whole line, Detroit to Kensington, was opened in 1852. Thi' Detroit & Bay City road was foreclosed Feb. 12, 1881, and purchased for the Michigan Central, which leased it and put a mortgage on the road. The other lines described above as leased are all held by the Michigan. Central n.omiuft.lly under leases at fixed rentals, but are practically owned. The land grant oame from the Jackson Lansing & Saginaw company as stated below. To Nov., 1882, a olo8e contract was made with Canada Southern for working its road by the Michigan Central and for the division or net profits over all char~es ai. follows-one-third to Uanada. ::3outhem and two-thirds to Michigan Central; but the Mich. Centr .1.l is entitled to an l ocrease on this proportion as it dimimshes its interest charge by payment of bond or otb.erwise, and hence it now obtains more than two-thirds or the net in.come. STOCKS .AND BONDS-The Michigan. Central stock has remained at the eame amount since 1873. Prior to 1873 it was a regular 10 per cent etock. In 1872·73 p aid 5 per cent and 4 in scrip, but afterward paid •o 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 ln scrip; in 1878, 2; in 1879, 319; in 1880, 8; in 1881, 612; in '82, none paid; in '83, 5; in '84, 3; in 'd5 and •i;e:;, nil; in '87 and '88, 4; in '89 to date, 2. The range rn prices of the stock has been as follows: In 1871. 1141i> 126; in 1872, 113@120; in 1873, 65@111; in 1874, 68½31i>9512; in 1875, 53@8214; in 1876, 345811!65:lg; in 1877, 355811!74-14, in 1878, 68¼@75; in 1879, 73l\l@98; in 1880, 75@13018; in t8iH, 84~ 1i>126¼; in 1882, 77@105; in 1883, 77@10018; in 18134, 51¾@9412: in 1885. 461211!79!\i; in 1886, 6llg1?,98l\l; in 1887, 8011!9512; in 1888, 72@9218; 1n 1889 to Jan. 18, inclusive, 85121i>885s. The Jackson Lan.sing & Saginaw t:ebt is assumed by Michigan Central, which also pays $70,000 per year on the stock of $2,000,000; the pro• ceeds of J. L. & 8. lands go to pay bonds, and in 1887 sales amounted to 7,222 acres for $140,451 (Including timber), leaving 296,92! acres unsold; land contra.eta and other assets on hand, $473,353. OPERATIONS, FINANCES, &c.-The road is operated under a close con· traotwithCan.adaSouthern a-nd the earnings of both roads are included in the statistics below. The statement ot the combined roads for 12 m onths endini,r Dec. 31, <Dec .. 1888, approximate) on which dividends were decla red, was as follows: 1888. 1887. Gross earnlngs ..••.••...•...•...••..•••.... $1:i,716,000 $14,164,000 Operating expenses and taxes ••. . .••... .. 10,015.000 9, 875,000 (69·72) Per cent .•••.•••.••..••..••..••...••... ~..... (73·01) Net earn.lngs ..•..••..•••••..•..•.••••••. $3,701,000 Interest and renta.18 .... ............. . . . . 2,529,000 $4,289 ,000 2,5~6.000 Surplus earnings....................... Proportion. to Canada Southern Co........ $1,172,0 0 342,000 $1,753,000 541,000 Proportion to Michigan Central Co...... lnoome from in.vestments................. $830,000 38,000 $1,212,000 52,000 Equals per ab.are for Michigan Cent. Co .. Ap1,ropriated for land . .•...•....... • .....• $868.1100 (f4·6l) 3 ),000 $1,264,000 ($6 ·7 4) 137,00 0 Leaves.................................. $ -33,0 i\ 0 Dividend 4 per cent ..•...........• .•..••..••... ~749,528 $1,127.0 !Q $719,528 :Balance,surplUB .••......••..••...•..•••.... $83,472 $377,472 -(V. 45, p. 5, 26,872,886; V. 46, p. 571,783,802; V. 47, p. 802.) Mlddleto-wn Unionville & Water Gap.-Owns from Mid• dletown, N. Y., to Unionville, N. J. State Line, 13 miles. Is con.trolleo by N. Y. Sus. & West. by ownership of stock. In year ending Se-p,. 30, '87, '1rossearn.'s, $44,903; n.rt, $12,,:,78; def. underti..x:ed rharges, $8,642 . 1'.lilwankee Lake Shore & Western.-(See Map.)-Own.s froru Milwaukee to Ashland, Witi., 391 miles (4 miles leased): branchesHortonville to Oshkosh, 23 miles; Manitowoc to Two Rivers, 6 miles; Eland Juno. to Wausau, 23 miles; .A..n.ti~o to Malcolm, 11 miles; Moni0<, to Rhinelander. 16 miles; HurlPy bran.oh. 13 miles; branches to min.es, &o., 41 milPs; Watersmeet branch, 5 miles; Ontouagon River bran.oh. 6 miles; total owned, 531 miles; leases, Milwaukee to L--ike Shore Junction., 4 miles; spur, l mile; Clinton to. Oconto, 56 miles: ~tal leased, 61 miles; total operated, 592 miles This company wa~ organized In 1876 as successor to the former company foreclosed in 1875. .Preferred stock has a preference to the extent of 7 per cent from net earnings . . The debentures are convertible mto stock _at par at anytime within ten days after ta.e date fixed for payment of divs. on com. stoclr. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -----· $50 $!,081,900 3¼1 J. & J. Phila., Office, 119 B. 4th 100 400,000 2¼1 Q.-J. 100 &c. 198,000 8 J. & D. La.st patdJune, 188i 1,000 100,000 5 A.. & 0 . Last paid April, 1887. 500 &c. 100,000 5 J. & J. Last paid July, 1887 100 &c. 250,000 4 J. & J. Last paid July, 1887 1,000 455,000 7 g. J. & J. Last paid Jan., !888. 500 &c. 950.000 7 g. J. & D. Last paid Dec.. 1887. 1,000 280.000 7 g. M. & N. Nov.,'88, con.paid in '89 1,000 1,015,000 7 g. J. & D. Last paid Dec., 1887. 1,000 4,000,000 6 J. & J. Last paid July, 1887 1,000 636,000 7 g. J & D. Last paid Dec., 1887. 1,000 500.000 7 .T. & J. Last paid Jan .. 1888. 1.000 .1,382,000 6 g. A.. & 0. Last paid apr., 1888. 1,001) 10,000.010 5 g. J. & J. N.Y.Mor'n,lnies,&Lond 1,000 4,290,000 5 J . & J. N.Y.,R.P.Flower&Co. 1,000 (1) 5 g. J. & J. New York Agency. 1,~gg , 4. g. J. & D. N. Y. Office, 214 B'way 46 4101157 1,000 2,054,000 ··6·g. J . .&..J. Last paid Jan., 1888. 1,000 346,000 7 g. J. & D . Last patd Dec., 1887. 1,000 696,000 7 g. M:. & N. Last paid .!\fay 1, 1888. 1,000 14,877,000 7 g. F. & A. Last paid Feb.. 1888. 500 &c. l'\81,000 A. & 0. None paid. 6 1,000 79:J,000 7 g. M. & N. N.Y.• Mercantile •rr. Co. 1,000 27,264,0)0 5 &6 g. J. & D. Last paid Dec., 1887. 347,000 6 J. & D. Last paid Dec., 1887. 1~000 7,954,000 6 g. M. & N. N.Y., Mercantile Tr. Co. 500 &c. 7,054,000 6 M. & 8. do do ..•. 225,000 7· .\I. & N. do do I Jan. 15, 1889 July 5, 1887 Overdue. Oct. 1, 1915 Jan. 1, 1916 Oct. 1, 1926 Jan. 1, 1907 June 1, 1927 May 1, 1907 June 1, 1909 July 1, 1922 Dec. 1, 191 o Jan. 1, 1891 April 1, 1921 July 1, 1926 Jan. 1, 1986 July 1, 1938 Dec. 1, 1952 Ja.n."i:·i899 June 1, 1903 May,1890&'92 1904-1906 April 1, 1911 May 1, 1906 D ec. 1, 1920 June 1, 1900 Nov. 1, 1919 Sept. 1, 1909 1920 Th?. equip. bornlA are redeem . $30,000 pn vear at par; the fun.ding notes $ lO0,ouo pet· year; the eq uip's or 1885 at $100,000 per ye u after 1890, and tlle OntonR,gon 1st mortgage $25,000 per year at par. Dividends have been: Iu 1887, 7 per cent on pre·.; in 1888, 7 on pref. and 4 on common; in 1889 to date, 2-½l on p:rer. The annual report for 1887 was in V. 46, p. 880. INCOME ACCOUNT. 1986. 1887. 1883. t $ 'B $ Gross earnings ...............•..... 2 317,602 3,180,681 2,822,848 Net earnin~a.... .... .• •........ ...... 9:)5,'200 1,240,323 1,207,901 Other recei1,ts. .•. ••. ..• . . . . . . .. . ... 36,181 47,733 13,000 Total net receipts .• . . •• .. ... . .• I ,<>3 l ,381 Interest paid (including incomes).. 4-?0,271 Rental and miscellaneous........... 26,9-t.0 1,288,056 517,687 31,307 Total............................ 507,211 Surplus.... .......................... 524,170 Di vidends....... ..................... 175,000 Rate of dividend.................... 312 on pref. 7 Balance.......................... t Deoei:r.ber es'imated. 3-19,170 1,220,901 608,895 121,290 548,994 739,062 480,000 on p. 4 cm. 6 309,062 733,185 487,716 300,000 on pref. 187,716 -(V. 45, p. 240,820; V. 46, p. 13-1, 380, 802; V. 47, p. 381,744,745, 803.) llill-wankee & Lake Wlnnebago.-Owns from Neenah to Sohleism"'ervllle, Wis. Built in 1882 and leased for 99 years to Wisconsin. Central at 37¼ pe!' cent of gross earnings as rental; but after $175,000 per year is received the balance of net earnings is to be equally divided. The $1,000 000 debentures were authorized to be issued as reqmred for improvements, and they are convertible on any coupon day i.nto pref. stock; the lessee pays interest on them till 1894. Pret. stock, 6 per ct. cum., $780,000; com. stook, $520,000; par of shares, $100. Oregon & !'rans Uontin.ental owm $277/,00 pref. and $226,000 common. Dividend of 3 per cent on pref. stock was p:i.id J ·l ly 15, 1898. In 1887, rental was $167,954. It.lllwaukee & Northern-(See Map.)-Owns from !:!ohwartzburg, Wis., to Champion, 257 miles; branches-Menasha and Appleton to Hillbe~,Wis., 21 m.i Ellis Juno. to Menominee, 22 m; total operated, 300 miles. Uses Chicago M. & St. Paul track, 9 miles, in.to Milwaukee. See full statement in V. 44, p. 813. 'rhe stock is $4,131,000. The consolidated mortgage is for $8,000,000, and ~2,155,000 bonds are reserved to 1:etire lets of 1880. In 1897 gross earnings were $976,137; nE'lt, !ll n9,.>73; surplus overoha.l'ges, $119,473. Gross ea.rning@ln 1886, $646,226; net, $2a2,085. (V. 45, p. 53, 613, 672: v. 46 , p. 75.) ll.llne Hill & Schnylklll Haven.-Own.s from Schuylk:111 Haven Pa., to Locust Gap, Pa., with branches, 137¼ miles. Road was leased May 12, 1864, to the Philadelphia & Reading Railroad Co. for 999 years at a. rental of $326,552 per year. There is no debt, a.n.d regular divi· dends of 7¼ p. o. are paid Operations a.re included in lessee's return,. It.llneral Range.-Hou~hton, Mich., to Calumet, Mioh., 15~ miles: branch, Franklin Station to Franklin, 2 miles; total 17~ milea. In 1887, gross earnings, $153,782; net, $97,661. This road was llnder the H . B. Ives management. The ooupons of Oct. 1. 1887, and since have been passed, and bonds due June, 1888, not paid. C. A. Wright was appointed reeeiver in June, 1888, and plan of reorganization ia beiog prepared. President, R F. Shoemaker, 10 Wall St.-(V. ,o, p. 272,538; v. 46, p. 73~; v. 47, p. 802.) l.Ulnneapolls & St. Lout•.-Owns main line, Minneapolis to A.ngus, Iowa, 2:'.>9 miles; Paci:tl.c Division,Hop.kins to Morton 92 milea • K alo Branch, 2 miles; Lake Park Bran.oh, 1 lg miles; tot.al operated, 354ii miles. Leases trackage from Minneapolis to St. Paul over St. Paul & No. Pacific RR.; also owns from Minneapolis to Whit.e Bear, 12 milee which is leased to the St. Paul & Duluth RR. ' Of the bonds issued under the 1877 mort. due Jane, 1927, those num.• eri>d from 1,101 t o 1,400, for $500 each ($150,000 in all, in addition to those above), were assumed by the Bur. Oedar Rapids & No. RR. The bonds on the 15 miles were issued by the Minneapolis & Duluth Railroad before it was absorbed by this company. Preferred stock, $4,000 000 issued; common stock. $6,000,000 issued; par of both $100 per share. Most of above lwt mortga~es are also a second lien on more or less of the road. The Jan .. 1888, coupon on equii;ment bonds and all subse• quent coupon.ii wern defaulted on. The President's explanation at length was in v. 4 6, p. 738. W. H. Truesdale, Pres't, was appointed receiver in Jnne, '88, in the foreclosure snit under imp. and equip. mort. The Wis. Minn. & Pao., Red Wing, Minn., to Mankato, 95 m., and Morton Minn., to Watert. Junc.,D~k.,1:21 m.,isleasedan.doperated bythie Co., but the M & St. L. has no ool!iration for the bonds, $3,000,000 of which a.re pledl{tid undt>r the Chio. R. I. & Pac. collateral trust mortgage. Stock i.s o'Vned by Chi<'. R. I. & Pac. RR. Detioit under operating expenses in 1887·88. $27,468. From Jau. I to Nov. 30, 1888 (l l mos.) . gross earnings wel'e $1,263 022, agaim,t $1,3• 4 974 in 1887; net,$ ,19,59!1, against $411,774. ' Fory.. ar ending June :10, 1 88, gross earnings were $1,377,889; net $362,8813; other receipts, $136,131; total net, $:i99,019; deduct rents.ls, interest, &o., $671,071, leaving a de:tioienoy of $172,051. For calendar year 1887 gross earnings were $1,491,388 , net, $428, MAP OF THE MILWAUKEE LAKE SHORE & WESTERN RAILWAY & CONNECTIONS https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis rvoi.. nvnr. INVESTORS' SUPPLEMENT. MAP OF THE MILWAUKEE AND NORTHERN RAILROAD & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis . I ,,, ·11.·J)i • .-. ·--···· ~•=-~··" .... ,. •·· ~, ). • -~ . '°•';.~-. ·----- -.:· ... ~-. ,, ·,. ·• ••· . .. • ... .~~-, l~ ■· ~~- -~ . ·' : .,. ~ . · .,.~j . ·-~ ~. - . . . . ~ -a•/·=-·• . . •~ · - ~1 .1 . . f~~1~~~~ . ,,~~~ ~~ .:.,. . .. . ,. . . RAILROAD STOCKS AND BONDS. JANUARY, 1889 ] "'ubscrlben urtlJ confer~ great favor by giving lmmetilate notice ot any error dlsco•,r.r1'd in these Tables. .OESCRCPTION For explanation of <1olllill.ll neadlnJrs, &·.l., see ~l)te;, ~Iiles Date dize,or of fBonds-Prlnol- INTEREST OR DIVIDENDS. Amount pal. When du&. .t:>a.r Outstanding Rate r.r When Where PMalH~, and by Stocks-Last; v'hlue. on .11.l'Bt page ot tab1, . Roac. Cen . Pava.1'-:.~ hom. Dividend. .. - ······· -··-·-l Q.-J. N. Y., Mercantile Tr. Co. Jan. 15, 1889 $100 f;-13,974.~!S0 Jfuaouri Paciftc-8took ..•..••.••....••..••.••..•••.. H,226 7 ,O,,O i)()O 1,000 4 '{. F . . A. \..H.' lh, let M., ~-. (l'ac. RR. of MC',) ext.ended in 1888 ..•. 283 Aug. 1, 1938 (le, 'I 2d M. (Pao. RR. of M ,.), (8. f. $50,000) ..•..•...••. 283 1871 1.000 J. .:I.: J. ,Tnly 1, 1891 ao i,5~01)0 M.. & 1'1. 1872 500 &o. 8 ,000 let ort. on depot in t t. Louts (Pao. RR. of Mo.). 8 do do May 1, 1899 500 245,000 6 g. A. & O. do let M . ._;,.·wnd. Br.• ,Pao.RR. of Mo), irna.r .•....•. 1873 do Oot 1, 1893 1,000 3,828,000 M.&N. do do 3d M.. (covering all p . operty of Pao. RR. of Mo.). 299 1876 7 Nov. 1, 1906 1,000 A. & 0. 190,000 do l.el\venw{l~..h Atol:.. & N. W., bt mort., irua.r ..••. 21 1869 7 do Oct. 1, 1889 650,000 F. &A. 1890 500&<-5 do Aug. 1, 1920 1st mort. on St. L'mis & Lexington (Mo. Pac.) .••. do 1,00<' 14.7l4,000 6 g. M.&N. do Nov. J, 1920 CondOl. M.,g., $30,000,000 015,286,000 res'd).o• 1,060 1880 du 1,000 14,376,000 5 g. M, & 8. do do Oollateral trust bonds, gold ($15,000,000) ... c*&r 1,120 1887 Jan. 1, 1917 l.c)CO 520.0U0 5 g. .J. & J. Le.:r. &CaueyVal.RR. lstM, g,gu.($10,000p.m.)c* 80 1886 do do I July 1, 1926 1,000 5 ",, M . & S. 75 1886 750.000 do Feb. 1, 192t do Verdiims Vall. Independence & W., 1st ~- ,g., guar. 4,000,000 F. &A. do st. L. Iron i,tt. & eo., 18t morii., coupon ....•••.•.. 210 1qg7 1,000 'I do Ang. 1, 189$ 1,000 6,00C ,0vo 7 g. M.&N. New York or London. .May 1, 1897 do 2d M . gold, coup., may bereg .••....••. 310 1872 1,000 2 ,::.00.000 7 g. J. &D. N. Y .. Met'ca.ntile Tr. Co. Juva 1, 1895 do Ark. Branch, let :::nort., gold, land gr·· 99 1870 ,-t... 1,000 1,450,000 7 g. J. &D. do Cairo Ark.& T., 1st, gold, cp.orreg ..••. 71 1872 do J-:me l, 1897 1,000 7,333.000 7 g. J. & J. do do Jan. 1, 1891 do Cairo & Fulton. 1st, ~, on road & land .. 304 1870 1,000 10,231.000 do Apr1l 1, 1931 do ~n. oonsol. and lan grant M ., gold. l 125~{ 1881 do 5 ~- A. &O. "8lto'7 1,000 7,507,000 5 g. A. & 0. do do sul)plemental, ;,:old S do do April 1, 1931 - of. !10UQi' ----- ---· ---·· ----·-- i868 15¼ do BaM Kno'I) Br., 1st M for $ 500,000 ..•. Little Rook & Fort Hmith-Lst M., land gr. sink. ld. Sedalia Wari,aw & Southern, 1st mort . ....••..... Little Rock Junct'n, 1st & 2d M. ($35,000 a.re 20) JIol>ile fl Birm.-lst.,.,~ar. ($20,000 p. m.) ... c&r JIobite ff Dauphin Is .- st mort.,g.(for $3,000,000) .uol>ile ff Girard-3d M. ($200,000 are 6s) ....•. .. . c .Ifol>ile ti M<mt. - 1st M. bonds oy L. & N. RR. Co ... :84l•1.tts {$41,000 are 8s) ....•..•••.••.....•..•••..•. oo·~ ti Uhw-lst mortgage, rld .••...•..•••.••. o" lat mortgage, extension, gol .••...•... -. •. . • • . . o* Gen'l M. (lnt. payable in scrip till after '91)111.f .. o* J}qotoment uondR •••.••••.•••.•••.•.••••••..••••••• . ti Eu aula-lst s. f. .$15.000 not d'wn.c• • ....... 165 ···2 150 36 85 179 179 472 55 472 ·s·i i875 500&c. 1,000 1~80 1.000 18~4 1,000 1887 1,000 1887 1,000 1~77 1881 500 &c. 1.u,u) 1879 500 &c. 1,0J0 1883 181:l~ 500 &c. '8 Ho'7 1~79 1~000 (1) 2,342,500 338.0P0 435, (){) ~.000,000 (1) 1,000,000 ~.6H9,000 255,000 7,'lflQ.000 1.000,ouo 6,36'.l,000 6 l4,l <2 1.500.000 (JO do r. ·&··.r. do do M.&N. do do A. & 0. do do 5' f!, J . & .r. N. Y., Chas .o Nat. Bank. New Yo ·k Agency b j(. F. & A. 4&6 J. & D. r.J. Y .. EI. B. Ho11.inl" & f',0. M.&N. N. Y., L . & N. Olli°". 6 N. Y. & Louisville. 6&8 Various 6 g. J. & D. N.Y. Farmers' L'n& Tr. 6 g. ~-Jan do do 4 . & S. do do do do ..6. .r. .&. . . J . N'.Y.. MeroantileNa.t.Bk. 7 (j .raii:""i,"i905 May 1, 1910 April, 1914 Jaa. 1, 1937 1928 .Tune 1, 1897 nfa' 1. 1931 18 0 & 1900 Doo. 1, 1927 July 1, 1927 Sept 1. 1939 Var, '90 to '97 J J 1909 147; deficit, under interest, $125,2(;;.J, In 1886, de.flcit, $8,163. {V 45, / oonts, $27,264.000. There has been som" oonfuslon in regard to the p. 303, o ..... 6: V. 46, p. 320,699,738,819; V. 4.7, I'· 21,626; V. 48, p. 100.) nnmber of b•mds listed at the Stock Exoh11J 1 .~e and the am!"11nt. n.01>ua.Jzy outstiionding. 1<inoe the numt>ers from 1 to 18,217 l)rlglna.lly reserved 1lo lUlnneapoll• St. Paul & Sault Ste. Marle.-r See.Map.)-From retire prl<>r liens, bav~ bPPn listed ever since 1881; also the fives are :Minneapolis t-0 Sault Ste. Marte, Mich., 491 m.; bra.ache,,, 23 m.; from listed in the same series of numbers with the sixes, embraoin~ the nlllll• Jifi'nn.-apolls northwest to Boynton, Hair., 286 m.; total co•~r 1'.~f'd, berdfrom 28,217 to 4:,,815 inolui!ive. See abstract of oonsol. mort. ot 800 m. In Prt'~Ss to Bismarck. Conne<?ts with Canadian ::-aodl.u. 1871 in CEIR0NICLE v. 47 p. 227 and of general con.sol. of 1880 in V. Thie Co. -q-ag forme.d Ma,y, 1888, by a consolldation of lhe Mtnn . Sault 47 p 170 ' ' ' 8te. Marte & Atl~tic, the Minn• .1t Pacifl.c, tl!e Mina. ,_I; At. Croix and A ~port of earnings for year ending Sept. 30, 1888, was in V. 49,p. 81 the AberdPen Bismarck ~ N ..,rth western. (See V. ~u VP, 538, 609 l 'Ille M. K.. & T . annual report for J 887, m v. 4.6, p. 380, showed: A large block of , u, , , tock was sold ~o capitallsts mt~rested in the 1885 1886 1387 Oanadlan Pacific,_ w)lich o~mpa.ny will thus v.ork with the consol• Milel! of road oparated Dec. 31... 1 3o6 1 386 1 61i ldaied road. ~ ,-{J{la-oom., ~:a,ooo,oou: pref. $7,000,000; par, $100. Earnings fr n' ' ' The first mortg. bonds of M. S. S. M. & A . were issued in 1887 at $20,000 Passengers $l,5J'.?, 713 $1,575,920 $1,654,270 p. m., rnd out of t4e proceeds a sum wn,~ retained to ~1a.v coupons up to Frt>ig!lt .... :·::.:·::::::::::::::::::: 4,833,860 5,470,742 6,29i 34' Joly, 1889. (Abst.rl\ct of mortgage V. 45, p. 243.1 Tae cons\llidaterl Mail, ex~ --:-.~P 11 nt1 mi.eoella.n~us.. 427.082 404,982 420,109 mortgage of 1888 {tmRtee, Central Trust Co.; mortgaJre abstract CHROY~~~ ~Js~~t.~~~ t~ ~.a;: ~[af6t~nds at waTotal earn,~~-:;· .... . . .. _... _. ~ ~-_,8 5 3,, 655 $7 .,45 6 ~ $7,366,728 4 22 c, 7 5 ,., Opera.ting expen11e"···· .. .••. "" 0 5 5 1 01 5,500,140 Ml•slsslppl & Tenne•see.-0wns from Grenada, Miss., to Memfhie, Tenn., 100 miles. Capital stQck, $825,455. A majority of stock N'et earnings....................... $2,798,554 $3,222,890 $1,866,583 69·1 f>6•7-1 74·66 was sold in May, 1886, to E. H. Harriman and oth~ra identtil.ed with t<atio or earnings ••. ••••.••••. .•. ~e Illinois Central Railroad. Default in the payment of interest was INQOMB A.OOOUNT. made in 1887, and in 1888 the above mortgage (trustees, E.T. H. Gtb• Reutpts1885. 1886. 1887. eon and A. G. Ha.ckstaJf) was issued to retire the 8 per cents, and for im• Net earnings................ ...... $2,798,554 $3,222,890 $1.866,583 )Jl"OTemnts. Old bonds received interest to date anrt were exchanged Dividends, &c. .••.•••..•• . ....••• 189,799 126,453 41,874. tor ne-w bonds with a bonus, the A's of $150 and B's of $100. The mort• gage securing the 8 per cents has been canceled, leaving the above Tota.I net income.............. $2,9&8,a53 $3,349,343 lll,908,4.57 mortgage the only lien on the property. (V. 46, p. 708.) DiBbursementsIn year end.in~ Sept. 30, 1887, n-oss earnings wtre $502,800; net, Cuterest o:H. bonds ................. $2,439,427 $2,483,363 $'2, 781,480 $117,754; defl.ci11 under interest $40,646. ln 1885-6, gross $125,718; . Taxes, rentals, &c •.••• -··· ..•••••• 310,646 *1,502,022 425,78i :net $97,358. (V. 45, p. 768; V. 46, p. 75, 134, 708.) Total disbursements ...•.. •••• $2,750,073 $3,985,385 $3,207,262' lUlseourl Kansas & Texas.-R0AD OWNED AND OPERATED.Hannibal, Mo., to Denison, Tex., 575 miles; branches, Dallas & Green- Balance for year . . . • • . . . . . . . . •• .. +$238,280 -$6:-rn,o 12-$1,298,805 * Of this about $800,0U0 was pa.id to Int. & Gt. N., in settlement. ville extension, 52 miles; Parsons, Kan., to Junction City, Kan.., 157 miles; Denison, Ter., to Taylor, 258 miles; Whitesboro to Henrietta, -(V. 46, p. 14q, 171,371,380,413,511,524,538, 51.3, 573,609,650 Tex., 86 miles; Denison to Mineola, Tex., 103 miles; Denton, Tex., to 678,699,739,771,802,828; V.47,p.21, 140,170,188,227,256,257 Dallu, Tex., 39 miles; Er-ho, Tex., to Belton, 7 miles; Trinity to Ogden, 285,353, 38 l, 440, 4!10, 594,626, 661, 708.) Tex., 67 miles; coal bra.nches, 8 m.; Jefferson, Tex., to Mo Kinney, rex., 1'.11880Url PaeUlc.-RoA.D OWNED AND OPERATED-Operates mam 155 m.; Taylor Houston & Bastrop RR., 103 m. 'l'ota.l, Dec. 31, 1887, llne St. Louis, 1\10., to Omaha, Net>., 496 milesi Pleasant Hlll, Mo., to 1,611 miles. International & Great Northern, from Longview, Texas, Joplin, Mo.. 133 miles; Verdi1rris Valley Independence & Western Rall· t,o Ga1Teston, Texas, 282 miles (of which 50 miles leased ti-om G. H. & way- Leroy to Winton, Kan., 75 miles; Leroy & Caney Valley-Roper H.), and Palestine, Texas, to Laredo, Texas, 415 miles: branches- to Peru, K:1,n .• 52 miies; small lineq, prtncipa.lly in Kansas and MiaHouston t-0 Columbia, 50 miles; Phelps to Huntsville, 8 miles ; Jl lneola sourl. 517 miles: total Missouri Pacilio system proper, Jan. 1, 188S. So Troupe, 44 miles; leased-Round Rock to Georgetown, 10 miles; l,2i3 miles. Also ope.rates .. Branch lines," inoluding the followingHenderson to OVerton, 16miles; total operated, 825 miles; tbe Holden Tbe Council Grove Osage City & Ottawa, 70 miles; Topeka. Salina & bra:aob, 54 miles, is owned by M. K. &"r.• but leased to Mo. Pao. Total Western, 70 mlles; Council Grove Smoky Valley & Western, 'l7 mllea; mileage Mo. Kan. & Tex. a.nd Int. & Great Nor. (including Gal. Hous. & Kansas & Colorado, 126 miles (with branch of 10 miles); Denver Mt,tn. Hendenon, 50 miles}, Dec. 31, 1887, 2,490. phis & Atl .. We,otern Div., 139 miles; and Pueblo & State Line, 151 OlW..lNIZATION, HlsTORY, &o.-The M. K. & T. Company was Qrganized miles ;-whioh form a continuous line from Ottawa, Kan., to Pneblo_ April, 1870, and embraces by consolidation the Union Paciftc Southern Col, 540 miles, and have total mileage of 584 miles; Kansas Ft. Scott & Branch, the Tebo & N eoaho and other minor companies. In 1874 the Han- Wlchtta,-Ft. Scott to, Kiowa., Kan .• and branches, 304 miles; Denver. nibal & Central Mo. was purchased. The road was operated by a .re- Memphis & Atlantic Eastern Dlv., Chetoka. to Larned, Kan., 272 mllelli eeiTer from Dec. 30, 1874, to July 1, 1876, when the Union Trust Com• other lines, 363 m.; total "Branch lin~," Jan. 1, 1888, 1,523 m. ; 1111pa.ny of New York took pos8e88lon. On Dec. 1, 1880, the company took sourl Pacific and branch lines, Jan. 1, 1888, 2,796 miles. Also Ille poe8e88ion of its property, paying the overdue coupons. · The company Central Branch Uuion Pacitio, 38!:! mi!_est is operated under oontraot., ha8 a land grant in the Indian Territory of 3,622,400 aorea subject to and the Sedalia Warsaw & Southern, ~aUa. to Warsaw, 42 mi.lee, ii the u:tingui8bment of the Indian title. The Booneville Bridge Com• also ope.rated, making the total mileage operated J'aa. 1, lts88, 3,228 m. In addition leases or control.8-St. Louis Iron Mountain & Southern pany is a separate orft8,nizatlon. In May, 1881, an operating lease to the Mo. Pao. for 99 years was 1,142 miles: Little Rock & Ft. SmithJ. VO miles; Missouri KanBM made without any liability of the lessee for illterest, eto. Texas, l 611 miles; lntemational & \:treat N<nthern, 775 miles• GalOn J'une 1, 1888, the M. K. & T. made default in its interest payments ves1on Houston & Henderson; 50 miles; total, 4,178 mile~. Gran4 and a. forecl08111'8 snit was begun; H. C. Cross and Geo.r~e Eddy were total Mis&ourt Pa.oiflc mileage, Jan. l, 1888, 6,974 miles. appointed receivers in Oot , lti88. Large claims :tor advances were ORG.ANIZ.A.TION, LE.A8E8, &c.-The Pacific RR. Oo. (Of .Missouri),,. . made by the Mis&o1J.rt Pactilo Co .• lessee. See report of Investigating incorporated under charter dated March 12, 1849, and road opened to Committee, CmlONICLB, V. 47,p. 257,440, K&nsa8 City in October, 1865. The company received a loan trom $he :rhe International & Great Northern Railroad had been foreclosed in State of Missouri. The Pacific Railroad of Mo. was eold in forealoRN 18i9 and was acquired by Mo. Kan. & TeL in May, 1881, by an ex• Sept. 6, 1876. The present company was a consolidation in Aug., 1880, ohange of two shares of .Missouri Kansas & Texas stock for one of embracing the Missouri Pacitto and a number of minor road& International & Great Northern, and the Int. & Gt. N. stock is held in The St. Louis Iron Mountain & Southern stock was taken up wttll the treasury of the M. K. & T.; it was reported as pledged to the Mis• Mo. Pao. in May, 1881, on the basis of three shares of Mo. Pao. for tour eou:ri Paoi.flc for advances, but in November, 1888, Judge Brewer de- shares of Iron Mt.. and the St. L. & Iron Mt. &took Ii held by Mo. Pac. eided that the M. K. & T receivers should have control of the 97,284 STOCK .A.ND BONDS.-Under the new regime the paymeni ot dividenda eharee of L & G. N. stook and they will probably vote it at next elec- was begun on the pre86nt stoek in '80, in which year 1111 p. e. wae paid. tion Default was made Sept. 1, 1888, on 2d mortgage of 1909, but the Dividends since have been: rn'81,6; in '82,614; in '83 10'87 lncl.,7; ill over-due <'Onpons were paid in November, 1888. 'r<r', 514: in 'o9 to date, 1. Range of FtocJrprioessinoe'82hasbeen as folT.be I. & G. N. guarantees $2,000,000 of Galveston Houston & Hen- lows: In'83,86@1u6 7e: in '84~63¼@10o; in'85,89¼itllllla,; in'86, der1:1on let mort. 5 per oent bonds, or which M. K. & T. owns $400,000. 100~11>119: in '87. 84lla.iU12; in '88, 6614@89~; in '89 to Jan. 18, in8T<A-"'K AND BoNDs.-The stock has ra.nged as follows since '77, rtz.: In clusive, 70140,751.g. True , ee or let mort. on Pacitl.c, of Mi880url RR., extended in 1888, 11 '78, 2@718: 1n '79, 53s@35lla.; in '80, 2818@4914; in '81,S4 7e1b54; in '82, 263s@4219: in' 83, 1919@34 7e; in '84, 919@2314; ln '85, 14-¼l@3718; in '86, Mereantifo Trui;t Co. The consoL mort. above is for $30,000,000-trustees John F. Dillon and 2Ht3314; in '87, 16191»3414; 1n '88, l0i1>183s; in '89 to Jan. 18, in· elusive, 13@14. Edward D. Adams. Of the oonsol. bonds the balance unissued is in the The consol. mort. 7s, due 1904-6, had a sinking fund of 1 per cent a hands of trusteeR to redeem prior bonds as they fall dne. Bee abstract or mort. cont,uning dPscri 11tioas of prior lit,ns, CHR0NICLl'l,V. 47, p. 287. year, beginning in 1874, but the sinking fund has not been fu.ltllled. An analysis of the genera.I mort~a!le of 1880 shows: Reserved to The collateral trust bond.. dt:e 1~ 17 {Union 'Ir. Oo. of N. Y., Trustee} are retire underlying bonds on old road, $18,535,000 sixes; issued on Sf'cured by morr I{. bonds of new railroadF at $12,000 or $1l'i.OOO per m. account of new road built or acquired, $17,924,000 sixes; total s1xe11 For securities pled~d, &o., see CHRONICLE, v. 46, p. 678. Th., Leroy ell anthort:aed to date, $35,815,000. Fives issued for incorr e bonds and Caney Va.I. RR., in Kansas. 811 m '-is lea~ed and boncts guaranteed by Mo .scrip, $9,340,000; total genl. oonsols. outstanding, both 5 and 6 per Pa.citl.c as also the Verd:igrts Va.I. 1ndependence & Western. ~f;.v -(~\~·, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8 ;gt !,, 4' MAP OF THE MINNEAPOLIS, ST, PAUL Sc SAULT STE. 'MARIE MAP OF TH .~ ST. PAUL MINNEAPOLIS, -ANDSAULT STE. MARIE RAILWAY & CONNECTIONS, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, 1889.] RAILROAD STOOKS AND BONDS. 87 Subscribers wUI confer a great f'avor by giving bnmedlate notice of' any error discovered In the•e Table•. BondB-PrlnOI DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or pa.1, When Ont, A.mount of For explanation of column headings, &o., see note of Par Outstanding When Rate f.er Where P~b.~~~• and by SwckB-Laei on first page of tables. Road. Bonde. Value. Cen. Payable Div:idend. JI.organ'• La.ct Tex.-lat M. (N. O. to Morgan City).c~ 1st mortga~e. Alex. Extension, gold . . • . ..•...••. JL<W'r1,B ct Essw-Btock, 7 p. c. gua.r. D. L. & W ...••. let mortgage, sinking fund .••...•.......•...•..••. ~~~~:i!e1>oii:<is:: ::: :: : : ::: :: :: :: : : : :: : : : : : : : : : :: Gen. m. & 1st on Boonton Br. &c. (guar. D.L.&W.) Consol. mort. (for $25,000,000) guar. D. L. & W .. Special reru estate bonds ..•........................ N<Uhua ct Lowell-Stock, 9 p. c ren'l, 92 yrs, B. & M. Bonds not mort.($100,000 a.reg. 5s, ;J. & :r.,1.900).c Nashvitle Ohattanooga ct St. Louis-Stock ....•..... let mort. (for $6,!300.000), coup ................. c* 2d mort.. gold or s"lver .......................... c* Bonds held by U. 8. Government ..........•....... 1st M. on Fayette. & McM. bra. ( ,i!6,000 p. m.) .. c~ 1st mort. on Lebanon Bra.nch ..••.............•. C"" 1st M. on ;Jasper Br. ($90,000 a.re 8s, due 1906) .c 1st M. on Centreville Branch, gold ....••.....•. c* 1st M. on Tracy City Br. (Tenn. C. & I. RR.) .••. c* 1st M. on Bon Air Br., 10·30s, $20,000 p. m ... c* Consol. M., g. (for $20,000,000/, $20,000 p.m .. c* Duck River .&R., lat M.. $6,000 p. m., assumed.c 2d m@rt., a.ssume<1 ...•...•.....•.. ~ ...••.......•. Nash'Ville tJ Decatur-Stock, ~a.r'd 6 p. c. by L. & N. 1st mort. guar. s. f. (-1,:200, JO held in stock fund) Na,hv. Flor. ct Sheffi,eld.-lat M. for$2,500,0 o.~ .. o Nashville tJ Knoxville-lat mort. for $2,000,000 . . c• ltawha JackBon ct Oolttm.-lat M.$ L2,5UO p.m.,g. c* Naugatuck-St'k, 10 p. c. ren'l, 99 yrs., N.Y.N H.&H. 1st mortgage ....................................... r Nuque/ion Val.-Stook, 5p.c. guar. till 1904,L.C.&N. -102- --1878 1880 ·15 ---- ·--· •73.•so 65'.) 340 i873 321 1881 321 1871 125 1877 !.'.9 1877 31 '77•'83 46 1883 20 1887 7 1887 630 1888 48 1876 48 1~81 122 119 isfo i3 1887 1-i ~s ioo 1882 ..... 61 61 18'33 18 --·· OPERATIONS. FINANCES, &c.-The ea!'Ilin/lS b~low are for ths Mo. Pa.c and branches, 2.796 nnles); for, not withstanding the merger of St. L. ~ Iron Mt. stock and lea-se 01 Mo. Kan. & Tex., the operations of all th• roads have been kept separate and are so reported. From Jan. 1 to June 30, 188." , groEis earni.ags were $5,538,117, against $5,204,319 in 1888; net, $1,130,501, ag>\tnst $1,913,5'..15, a.nd for the full year endlng June 30, 1888, the earnings were given ia the CHRONICLE, V. 47, p. 4q9. The a.nnuai report or Mo. Pacific for 1887 was 1n the CHRONWLE, V. 46, p. 367, 378. The earnings and income account have bee11 as follows : EARNINGS AND EXPENSES. 188fl. 18"5. 188".'. 1,488 1,037 2,796 Miles operated Dec. 31. .•......... Earn1ngePassengers .... ..................... $2,001,578 $2,020.597 $2,945,458 8/-37,017 5,518,2~6 Freight ............ . ............... 5,153,025 785,9">: _2:106,127 .1 ,597,114 Mailexpress and miscellaneous... Total earnings . .•..••.•••....•. $7,943,562 $8,6-15,020 $12.979,589 5,238,7:l3 8,286,594 Opera.ting i>xpenses. . ... . ..• .. .... 4,33'3,319 --- ---- ---- ---- Net earnings ......•......•.... $3,605,243 $3,4!)6,297 $4,6~2,995 6()·59 63 84 54·6L expemes to earnings..... INCOJ\1E ACCOUNT. 18~6. 1887. 18%. · &uiptsNet earnings ..•.......•........•.... $3.605,243 $3,406,297 $4,692,995 3,014,262 1.360,832 79 .t,835 Dividends, &o .•. . . . . . . . . . . . . . . . . . . Total net income ..•........•.. $4,398,078 $4,767,129 $7,707,257 Disbursements- Interest on bonds ...•...•........•. $1,822,727 $1.875,470 $2,349,407 2,5~1.770 3,tJ08,l 74 Dividends paid. . ... . . . . . . • •. . • . . . 2,098,000 7 7 7 Rate of div:idend . . • . . . . . . . . • . . • • . . . 053,992 568,848 762,265 Taxes, rentals, &o............. •. . . - - -· Total disbursements ..•....••.... $4,489,575 $5,061,232 $6,llU,846 Bale.nee for year .••..••.......••... -$91,497 -$294,103 +$1,587,Ul BT. Loma IRON MOUNT.A.IN & SOUTHERN.-St. Louis to Texarkana., Texas Line, 490 miles; branch lines, Mineral Point, Mo., to Potosi, Mo., 4. miles; Bismarck, Mo., to Belmont, Mo., 120 miles; Poplar Bluff, Mo., to Bird's Point, Mo. (Cairo), 71 miles; Gurdon, Ark., to Camden, Ark., 34 miles; Knobel to Helena, 140 miles ; Newport to L"ushme.n, 40 miles; Neelyv:ille to Doniphan, 20 miles; Allenville to Jackson, 16 miles; Arkansas Valley Div. (formerly L. Rook:. Miss. R. & T exas), 113 miles; Warren Brancll, 49 miles; Bald Knob to Wynne, Ark., 45 mili· s; total. Dec. 31, 1887, J ,142 miles. (The Cape Girardeau & Northeru affords a connection with the Bt. Louie Ark. & Tt xas at Delta, Mo.) There were yet out Dec. 31, 1887, $346,384 of old mcome bonds of the 11everal issues, and $73,000 of the Cairo & Fulton 2d mortgage bonds. The Mercantlle Trust Co., of New York, is trustee of the general oonsol. mortgage. The stock is nearly all held in the treasury of the M18sourt Paclflc Railway Co., having been retired in May, 1881, by the lssne of three shares of Mo. Pao. stock for four of St. Louis & Iron M-onntain. The sales of land in Arkansas on which the Cairo & Fulton bonds have a lien are given in the report for 1887 as 49,578 acres at $3·04 per acre. Lands in Arkansas unsold, Dec. 31, 1887, 847,270 acres; in Mi~souri, 108. uU acres. The Little Rock & Fort Smith road was absorbed by an exchange of Its stock in 1887 (4 shares for 3 of Bt. L. & I. M.) See title or that com• pany in SUPPLEMENT of May, 1888, and previously. '.l'he St. L. & I. M. report for 18~ 1 ,, ~- published 1n the CHRONICLE, V. 46, p. 380, ~00, l:llld the int ome Pccount was as follows: INCOME ACCOUNT. 1887. 1886. 1885. ReceiptsNe earnmgs ..•...•..•••.••.•••...•. $3,619,416 $3,443,281 $3,483,392 118,502 159,800 44,741 Otherreceipts........ .••...••..••... Total net income .• •..••.••••.••. $3,664, 157 $3,603,081 $3,601,894 DisburBements- Interest on bonds .• •..•............. $2,215,304 $2,214,131 $2,358,397 l,li92,052 350,144 397,522 Taxes, br!dge exp., dividends, &c.. Total disbnrsements ..•..•••.•.. $2,612,826 $2,564,275 $4,050,449 Balance for year . ... •••.....•...•. +$1,051,331+$1,038,806 -$4!8,555 -(V. 46,p. 352, 353, 861, 3'78, 511,524, 538,678,771; V. 47, p. 327; 453, 499, 708, 776.) ltloblle & Birmingham. -(See Map East Tenn. Va. tJ Ga.)llobile to Marion June., Ala.., on the East Tenn Va. & Ga. road, about 150 miles, opened in July. 1888. .Al1stract of mortgage V. 45, p. :l74. E. T. Va. & Ga. owns a majority or the stock ann guarantees principal and interest of bonds. Stock is $i,000,000, and bi.tltJ pa) ablt Aug. :w, 1888, $627.500. (V. 46, p. 3t0, t>78; V. 47, p. 333, 442.) .llloblle & Dauphin Island KR. &; Harbor Co.-•From Monile to Dauphin Island, Ala., 36 miles. This road is intended to form an outlet at deep water on the Gulf of Mexico for the railroads centering at Mobile. Stock is $3,000,000. Robert Sewell, N. Y., President. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis --- --- $3,000,000 A. & 0. N.Y.,S.Pao.Co.23 Broad April 1, 1918 7 do 1,477,000 ;July 1, 1920 do 6 g. ;J. & ;J. 15,000,000 319 J. & ;r, N. Yd.tel., Laci& W. ;Jan. 2, 1889 5.000,000 May 1, 1914 M &N. 7 2,999,000 do do Aug. 1, 1891 F. & A. 7 ;J. & ;J. 281,000 Clo do Jan. 1, 1900 7 4,991,000 do do Oct., 1901 A.. & o. 7 do ;June 1,1915 8,007,000 do .r. & D. 7 2,795,000 do do Various 4.12&5 100 Nov. 1. 1888 800,000 412 M_-&·N. Nashua, Co.'s Office. 300,000 6 &5 g. F. &A. do do 1893 & 1900 ··25 6,668,531 Q.-J. New York & Na.shv:ille. .Jan. 10, 188 9 1 14 1,000 6,300,000 .J. & J. N.Y., Continental N.Bk. July 1, 1913 7 1,000 1,000,000 do do J. & ;J. Jan. 1, 1901 6 no do 500,000 J. & D. 4 June 1, 1891 1.(.)()0 750,000 do do . 1, HH7 Jan J. & .J. 6 1,000 300,000 do do Oct. 1, Hl 7 J. & .r. 6 1,000 do 461,000 og. Jt: 8 J. & J. do :Jan.,1906 & 2 3 1,000 do 376.UOO Jan. 1, 1923 do 6 g. J. & .r. 1,000 600,000 do do Jan.1892to't 7 J, & J. 6 1,000 130.000 do do July 1, 1917 J. & .J. 6 1,000 l,!500,000 April 1, H2 8 do do 5 ,z. A. & 0. :;oo &c. 250,000 Jan. 1, 1896 do do 6&.8 J. & J. 1,00t> 140,000 do Nov. 1, 1909 do 6 g. M.&l\j. De1,. 6, 1888 2,1.'i0.557 Nashville. J. & D. 3 --·1,000 2,100,000 J. & J. N. Y., 50 Exch. Place. ;July 1, 1900 7 1,000 (1) Aug. 1, 1937 5 g. F. & A . Ni,w York Agency. 1.000 9::J0.000 M..& N. N.Y.,Mi>rcantile Tr. Co. 1918 6 100 ,\0 1,250,000 M. & S. N. Y., Meitrorol. Tr. Co Sept. 1, 191 2 6 100 2,000,000 J . & J. New Haven, Ct., Treas. Jan. 3. 1889 5 1,000&c 150,000 ;June 1. 1913 J . &D do 4 do 50 1,400.000 212 l\1. & s. Pltila., 226 South 3d St. Sept. 1, 188 8 $l,OOO 1,000 50 i864 500 &c. 1866 /500&c. Var'us 1,000 ·34 1871 1,000 137 1875 1,000 Var'us 157 132 84 84 Uobile &; Glrard.-Owns from nile•. Common stock, $1,137,121; preferred stock, $137,603, and II $2,630 Pike Co. stock: par, ~100 . From June 1, 1886, road was lea~ed Columbus, Ga., to Troy, Ala., 85 t 11 the Oentral or Geor!{ia for 99 vears at a gu·:1.ranteed dividend of 119 per ·ent pPr annum on $673,456 stock. In 1887·88 gross earnings $22t,093; net, $96,606. l.loblle &; 1'Iontgomery-(See Hap Lo•tisville tJ Nashville)') wn~ t't·om Montgomery, Ala., to Mobile, Ala., 180 miles. The stock le S2,950,800, a.11 owned t>y tile Louisville & Nashville RR. Co., which The Louisville & Nashville Co. ll!l.s issued 'l'>W operates the roa. i. $:l.R/39,0i)O bonds secured on this ro:1d, $2,677,000 of whiob, as well as :¥2.933,700 stock, a.re pled~ed for the collateral trust bonds of that company. In year ending Ju ne :;o, 188'3, gross earnlnl?A were $1,230,· 106; net. $430,246: suq1lus over interest and taxes, 9'220,3 >0, against $l66, 83. In 1883-87 dividend paid 4 per cent. (V. 46, p. 218.) iUo blle & Ohlo.-(See lfap.)-Owns from Mobile, Ala., to (;olumbus Ky., 47:l ,nlles, ann extension (by Ken. & Tenn. RR.) to Cairo, 21 m; ioa.se:. St. L. & C. RR., Cairo to St. I..0 1is, 152 miles. and traca: to Mill• ~tadt. H miles; t,ra,nches-A.rtesia, Miss. to Collllilous Miss., 14 miles; A.rtesia, Miss., to Starkville, Miss., 11 miles; Muldon, Miss., to Aberdeen, 11i.is., 9 miles; total owned, 527 miles; total operated, 688 miles. In July, 1885, the gauge was changed to standard, 4 feet 8 tg inches. In n ~c .• 1885, the lease of th e St. L'mis .11; Cairo RR. 1161 mile'!) was taken ror 45 yeil,rs at a r ental g-ua.r,tnt:ee,l to a.mount to $16.> ,0JJ p8r ye'l.r. A. default was ma.de May 1, 18 74, but the company wa.s reor~anized without fore(}losure. The stock is $10,000,000. Lands June 30, 1888, were 876,124 acres,Ivalued at $441 935. In May, 1888, the new 4 per cent mortgage for $10 5'10,00"1. (tru'!tes FarmP,rs' L. & Trust C .) was isimed to retire the o1d i:;iukin11: fund dt"ben tures, etc. Until a ftn Sept. 1, 18!:ll, iuterest on tile bonds may be pai I in sc rip, ruudallle in~o IJon ·s of sa. ne issue. rhic.re can Le no forerlosu"e un ler tllis mortga~e till four coupons are in default. The sinking fund depends on laud sali>s. After ex:changin~ for all the de• beutm·es, tllt:re wLIL remain $2,187,000 of th-:, 4 per cents for the future nQe of the comp mv. Bee morta-a~eab;;tra·Jt, V. 47, p. 83. Fiscai year ends Jnue 30; the report for 1887·-:!8 was in V. 47, p. 562. INCOl\IE ACCOUNT. 188 )-86.* 1886-87. 1884-85. 1887-89. 51.7 527 Total miles operated. 663 6t>3 $1,962,323 $2,431,381 $2,629,536 Gross earnings ........ $2,101,025 637,713 506,741. 710,392 524,839 Netincome............ 1 Disbursement~- rnt. on mort. bonds.. Interest on car trusts R ent to St. L. & C ..•. Miscellaneous .......•. $4'32, lOO $ tSl,600 $4.80.800 15.426 128,8ti3 11,3 13 $-180,000 40,408 lM,000 19,510 --- --- $704,918 $636,393 $520,236 Tota.I disbursem'ts $482,400 $5,474. $1.320 $27,490 $42,439 Balance, surplus..... -(V. 45. p. 614,640,705; V. 46, p. 289,449,481,511,678,771; V. 47, p. 83, 188, 562.) 1'Iontgo1Dery & Euf'aula.-Montgomery to Eufaula, Ala., 80 miles. 'l'he road was foreclosed May l, 1879, bought by W. M. Wadley, Operated under contract by and the present company organized. Cent. RR. of Georgia, and interest paid by the rental. Stock is $620,000. all owned by Central RR. of Georgia.. 1'Iorgan'• Louisiana&; Texas Railroad&; Steam•hlp Oo.(See Map of So. Pac. Oo.J-The road owned is from New Orleans to Cheneyville, 204 miles; branches, 55 m.; Cheneyv:ille to Alexandria (under track agreement), 24 m.; total, 283 miles. In Feb., 1883, the stock waa sold to the South. Pac. parties, and the South. Pac. Company held (Deo. 31, 1887/ $4,062,700 out of the whole stock of $5,000,000. This compav•• property consisted of seventeen iron steamships plying between New York and New Orleans and between Gulf porta, also wharves, warehouses, and terminal facilities, besides the oap•tal stock of rahroad and other companies, including a majority interest m t3.e capital stock of the Houston & Texas Central Railway Co., &c. Tnere a.re also $251,· 716 of old New Orleans Opelousas & G. W. bonds due 1889, assumed by this company. In 11'86 gross earnings were $-1,138,525; net. $1,059,518. In 1887 gross earnings were ~4,642,087; net, $L,378,967. From Jan. 1 to Nov 30, 1888 (Ll months), e:ross earnings were $4,641,683, against $4.063,606 in 1887; net, $1,410,975, against $1,056,7:H. lUorrls &; Essex.-(See M p of Del. L. tJ W.)-Owns trom Hoboken, N. J., to J:'.O.W1p1:1l>Uig, N. ;J., 85 miles; branch, Denville, N. J., via Morris & Essex Tunnel, to Hoboken, N. J., 34 m.; leases Dover to Chester, 10 m.; Newark (.\ Bloom. RR., 4 m .; total operated, 132 miles. In 1868 this roa.41 was leased in perpetuity to the Del. Lack. & W. RR. The lessee8 assume all liabilities of the Mor. & Essex RR. and pay 7 per cent per annum on the capital stock, and they also agreed to pay- 8 per cent in case the Morris & Essex earns 10 per cent on its stock many one year after the year 1874. The Morru & Essex is important to the Delaware Lackawanna & Western as a route with terminal facilities on New York Harbor, but the actual earnings on the road show a large annual detioit for the lessee company after the payment of rental. The loss to lessee wa.s in '80, $1,012,416; in'81, $985,890; in'82,$941,550; in '83, $1,104,21~ INVESTORS' SUPPLEMENT. MAP OF THE MOBILE & OHIO RAILROAD AND ITS CONNECTIONS. A https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ,R [Vor... XLVIII. JANUARY, RAILROAD STOCKS AND BONDS. 1889.] 89 snn•cribert1 'Will conf'er a great f'avor by giving Im.mediate notice o• a.ny er.1'0r dl•covered In the•e Table•• Bonds-PrinclINTEREST 0R DIVIDENDS. .ul!:BCRIPTION. Miles Date Size, or When due. Amo11.ut Rate per When Where rn.yabi.t,, and by pa.I, Par of Stoclu-Laat For explanation of column hea.dings, &c., see notes of Outstanding Whom. Road. Bonds Value. Cent. Pa.j'i.t.Ole Dividend. on fir~t page of tables. ---- - Nriada Oentrat--lst mort., income (sinking fund\ .. NtJUJark ti Hudson-lat mortgage ..•. . ........•...•. c Nev,ark Somerset ti StraitstJ., 0.-lst mort'f,3'ge ..... Newburg Dutchess ti Oonnecticut-Income onds ... New Oastle ti BeatJer Valley-Stock .. ... . ............ New HatJen ti Derby-lat mort., extended in 1888.c* 2d mortga~e . .......•... . ..........•...••.•...... c" N.HatJ.<INorthamp -Bt'k,guar.99y!'8.N. Y.N. H.& H. 1st mort~age .•........•....... . .•..........•..•. . c* &W., leased, 1st & 2d M., ($200,000 gu.).o• Conscl. sink. fund $15,000 _var yr. not drawn o+ Northern Extension ..•. . .........•.......•....... c* Bonds convertible int() stock ...•.•......•....... o* New JerseyJunction-lgt M., guar. byN.Y.Cent.c&r Neto Jersey ti New York-lat M. (reorganization,.o* li•.''Y• N ~$.~~ fo"mori: ·cini: guar.·by:N."Y:& ·i.3s·.~ Long Branch & Bea Shore, 1st mort., guar ......•. A ew London N orthern---Btook ...•.• ••••••........... 2d mortgage ..•.......•..... . .•. . .•. . ........••.. o • Oonsol. mortgar ($300,000 are 4s) ....•..••.... o * Nett,port News ti ississippi Valley-Stock .......••. NetD Orleans ti Gulf-lat consol. mort, gold ...... (1 * Neto Orleans ti Northeastern-Prior lien mort.... c* N.Y.Brooklyntl Man.Beach-N.Y.& M. B. la t M .. c* N.Y.B.&M.B., 1st consoL M., gold, ~ar.by L.I. .c* Y. ti Oanada-lst M., ster.,guar. .&H. Ca.n .. o .. lf, 94 :; 44 --1888 1871 1869 1877 ·15 13 13 147 92 17 ·27 ···5 39 i8~s 1870 1870 1879 1881 1886 ,1886 '1880 ..78 i879 i2i 100 121 l 1869 i872 1880 68 i8s6 1885 ·14 1877 0 150 1885 1874 840 .... 1873 1873 1884 All. Neto York Oentral ~ Hudron River-Stock ..•...... . l,421 Debt certificates (N. Y. Central) ext. 10 y'ra, '83 .. N. Y. C. & H., $30,000,000 } coupon or reg. { £2,000,000 mort~age . . . Debenture bonds (to be incl. in any new m01t.).o&r 1°869 840 i853 $1,000 1,000 500 &c. ··_50 1,000 500 &c. 100 1,000 1,000 1,000 1,000 1,000 1,000 500&0. ·-·· 600 1,000 100 500 &c. 1,000 100 1,000 1,000 500 &c. 1,000. £100&0 100 500 &c. 1,000 1,000 1,000&c $750,000 250,000 800,000 l,1G4,500 700,000 300,000 225,000 2,460,000 1,300,000 260,000 1,200,000 700,000 700,000 1,650,000 400,000 100.000 1,590,600 200.000 1,500,000 387,500 1,112,000 13,612,040 1,000,000 878,000 500,000 845,000 4,000,000 89,428,300 6,450,000 30,000,000 9,733,333 10,000,000 5 7 M:&·s. N. Y. L. E. & W. RR. g. M.&N. N. Y., Union Trust Co. 21g N ewca.stle, Penn. Q:.:.:.r. do do M.&N. 5 Various N. Haven, Mech. Bank. 7 500. A. & 0. New Haven. do do J. & J. 7 6&7 A.. & o. N.Hav.,N.Tradesm's Bk do do A. &O. 6 · do do A. & 0. 5 do do J. & J. 5 4 F. &A. New York ~ency. !.\f.&N. N.Y., Mercan e Tr. Co. 6 J. & J. do 5 do J. & J . N. Y., 119 Liberty St. 6 J. &D. do do 7 ll\t, Q.-J. New London, Office. J. &D. N. Y., B'k of N. America 7 do 4&5 J. & J. do .... •.6.g. M.&N. N. Y. Nat. City Bank. 6 g. A. & 0. N. Y., Central Trust Co. J. & J . N. Y., Corbin Bank'g Co 7 5 g. A.. & 0 . do do 6 g. M.&N. London, BarinJ Bros. Q.-J. N.Y.,Gr.Centr Depot. 1 M. & N. do 5 do J. & J , do do 7 6 g. J. & J. London, Union Bank. M.& 8. N.Y., Gr. Centr'l Depot. 5 i ---- .J"G.iy 2. 1938 Sept., 1901 Nov. 1, 1889 June 1, 1977 Jan.1, 1889 Nov. 1, 1918 A.u~. l, 1900 Oct, 1888 Jan., 1899 Apr.1 '91 & '98 April, 1, 1909 AJ.ril, 1911 J y 1, 1898 Feb. 1, 1988 May 1, 1910 Jan. I, 1988 July 15, 1899 Dec. 1, 1899 Jan. 2, 1889 July, 1892 July, 1910 0 Nov:·i: 1928 Nov. 1, 1916 Jan. 1. 1897 Oct. 1, 1935 May 1, 1904. Jan. 15, 1889 May 1, 1893 Jan. 1, 1903 Jan. 1, 1903 Sept. 1, 190C. fn '84 about $1,100,000: in ' 85 and ' 86 a.bout $900,000. (V. 45 / were $725,928; net, $246,664. In 1885-86, gross, $704.336; net. $221,522. p. 13.) Nesquehoning Valley.-Owns from Nesquehoning Junodon, Pa., N. .llua & Lowell.-Owns from Lowell, Mass., to Nashua, N. H. 15 miles. On Oct. 1, 1880, a lease for 99 years to the Boston & Lowell was made. ln 1887 lease was transferred to Boston & Maine RR. Co., which pays a rental of $73,000 (9 per cent on stock). The funded debt ot '300,000, principal and interest, is assumed by the lessee, anll the lessor holds the lessee's notes for the same amount-$300,000. (V. 45, p. 143. Nashville Chattanooga & St. Lonls.-(See Map of Louisville ti NashtJ.)-Owna from Chattanoop;i. Tenn., to Hickman, Ky., 321 miles; branches-Wartrace, Tenn., to Shelbyville, Tenn., 8 m.; Jasper Br., to J.nman and DUDlap, 43 m.; Nashv. to Lebanon, 30 m.; McMinnville Br., 61 m.; Fayetteville and Huntsville Br., 66 m.: Centreville Br. , 46 m.; Tracy City- Branch, 20 m.: Duck River RR., 48m.; Bon Air Br, 7 m .; total operated June 30, 1888, 650 miles. A majority of the stock ($3,385,000) is owned by the Louisville & Nashville RR. Company and pledged among the collaterals for the trust loan of that comnany. Of the consolidated mortgage of 1888 (U. 8. Trust Co., ·trustee), $10,807,000 bonds are reserved to retire all prior bonds, and $1.500,000 bonds were issued to standard gauge the Duck River Val. RR. and the Centreville branch; the remainder can only be issued on vote of the stockholders for extensions. etc. From July 1, 1888, to D ec. 3 t, 1888, (6 mos.), ~ross earnings were fl,635,265 , agst. $1,601,638 inl886-7; net, $682,327, a.get. $,"19,191; surolns over int., taxes and improvem ents. $212,596, agsc:. $277,08g. Dividends since 1876 have been: In 1877, I¼ per cent; in 1878, 2¼; in 1879, 3. in 1880, 2; in 1881, 3; in 1882, 1~; in 1883 and 1884, 2; in 1885, nil; in 1886, 1; in 1887, 4; in 1888, 414; in 1889 to d at e, 114 Fiscal year ends June 30. The report for 1887·8 was in V. 4.7, p. 352. to Tamenend, Pa., 17 miles; Tunnel Branch, Hauto, Pa., to Lansford Pa., 1 mile; total operated, 18 miles. Opened in 1870, and was leas;{ for 999 years to the Lehigh Coal & Navigation Co. at a lease rental of $130,000 per annum. In Sept., 1884, the lease was modified so as to pay 5 per C1ent a year only, and the option to purohase the stook at par and interest was suspended for 20 years, with a guarantee of 5 per cent p er annum on stock. Nevada Central.-Battle Mountain to Austin, 9i miles. Stock, $750,000. Road sold in foreclosure June 21, 1887. Reorganization about completed. Above bo nds are to be issued in exchange for $750,· 000 old lats. N. Y. Committee. Messrs. D. B. Hatch, et al In 1887 gross earnin~e were $70,816, net, $7,204; deficit under interest, $37,796. Gross in 1886. $57,759; d eft.cit, $2,624; deficit under interest, $47,624. -(V. 45, p . 672, 743.) Newark & Hudson.-Owns from HerE?en Junction to Newark. N . .J., 6 miles. Leased to New York L i..J{e ~ne & Western at a rental of $17,500 p er annum, which pays interest on bonds. Cortlandt Parker, President, Newark, N. J. Newark Somerset & Straltsvllle.-Owns from Newark, 0., t.o Shawnee, 0., 44 miles. Road was completed in 1871. Leased to Balttffi ()re & Ohio (in perpetuity at B. & O.'s option ) . which Co. pays 30 per cent of gross earnings, and advances any additional amount necessary to meet the interest on the debt. Stock, common, $795,4.00, and preferred, $218,200 (par both, $50), $705,550 or t he first and $191,850 of the latter, b eing owned by Bait. & 0. In 1887-88 gross earnings were $241,46l; net, $13,101; loss to leesee, $65,380. In 188-l-85, gross, $118,430; deficit. $29, 102; loss to lessee, $04,631. In 1885- 86, gross, EARNINGS AND EXPENSES. net, $35,208. In 1886-87, gross, $183,010; net., $2,575. $214,291; 1985·86. 1886·87. 1887·88. 1884-85. $ $ $ $ EarningsNewburg Dutchess & Connectlcut.-Owns from Dutchess June. 834,823 N'. Y., to Millerton, N. Y., 59 miles. The Dutchess & Col. RR. was sold 725,961 601,820 649,737 Passenger................. Freight ....... .... ....... 1,435,878 1,429,468 1,894.715 2,102,956 :\ug. 5, 1876, and this company was organized Jan. 8, 1877, by the plll"153,874 chasing bondholders. In .S-ov., 1888, was leased to New York & Mas• 153,572 153,821 155,104 Mall, express, rents. &o.. 8achusetts. In addition to above incomes, there are $150,000 1st mort. Totalgrossearnings ..•. 2,240,719 2,188,109 2,774,248 3,091,653 7s, due in 1907. In year ending Sept. 30, 1887, gross earnings were Total operating expenses. 1,304,002 1,322,858 1,578,611 1,770,249 $144,726: net, $19,657; surplus o\·er interest, $8,259. In 1885-86, gross, $143,418; net, $28,276. The common stock is $500,000 and pre• 865,251 1,195,637 1,321,404 ferred stock $587,450; p ar $50. John 8. Schultze, President, Mattea• 9.36, 717 Net earnings ..••.•.... wan, N. Y.-(V. 47,p. 626.) INCOME ACCOUNT. 1886·87. 1885·86. 1887-88 1884·85. New Castle & Beaver Valley.-Owns from Homewood, Pa. t,o Net lleutpts$ $ $ $ New Castle, Pa., 15 miles. Road m operation since 1860. Lease'a to 865,251 1,195,637 1,321,404 Pittsb. Ft. W. & Chic. RR. for 99 years at a rental of 40 per cent on gross 936,717 Net earnings .••..••...••. 13,445 11,947 lfisoollaneous receipts ... earnings. Lease transferred to Pennsylvania Company. There is no debt. In 1879. 13 per cent dividends were paid; in 1880, 13 p. o.; in 1881, 24. 865,251 1,209,082 1,321,404 p. c.; in 1882, 14 p. c.; in 1883, 29 p. c; in 1884, 19 p. c.; in 1885, 10 p. c.; 948,664 Total income •.•..•... .Ditbur,ements$ $ $ $ in 1!:!86 and 188 7, 6 p. c. Gross earnings in 1887, $258,003; rental re675,096 709,834 760,834. ceived, $103,201; gross in 1886, $207,214; rental received, $82,855. 682,273 Interest on debt & taxes. 266,741 266,741 Dividends ................. ·45:22i 119,480 145,015 -(V. 46, p . 699.) Improvements .••...•..••. New- Haven & Derby.-Owns from New Haven, Conn., to An.Bonia 720,317 1,096,055 1,172,590 Conn., 13 miles, and extension to the Housatonic RR. at Botsford 740,674 Total disbursements. 148,814 8 miles. In 1887 the road was sold to W. H. Starbuck in tbe 113,027 144,934 207,990 Balance, surplus.......... interest of New York & New England, the purchaser assuming the -(V. 45, p. 113,239,240.369, &01, 436,539,672,820; V. 46, p. 102• guarantee of New Havell City to the 2d mortgage bondholders. G1'088 228,371,511,650,771; v. 47, p.81, 227,352,353, 473,594, 775.) earnings in 1886·7, $161.975; net, $67,934; surplus over interest and taxes, $21,808. In 1887·88, ~oss, $173,779; net, $69,216; surplus, N . .h'rllle & Decatur.-(See Map Louis-rnlk ti Nashmlle.)-Owna $31,841.-(V. · 45, p. 84.) from Nashvilie, Tenn., tu Decatur, Ala., 119 miles. The road was leased May 4, 1871, to the Louisv. & Nashv. RR. for 30 years from New- Haven & Northam.pton.-Operated from New Haven. J'Uly 1, 1872, at a. rental of 6 per cent per annum on the stock. The Conn., to Conwa_\ .Junction, Mass .• 95 miles; branches-Northampton t.o leuee assumed all the debt of the Nashville & Decatur Co. Sinking Willia.msburg, 7 miles; 1< a mnn:!ton Conn., to New Hartford Conn., 14. fnnd June 30, 1887, held $112.000 N. & D . and L. & N. bonds In miles ; South Deerfield to Turner's Falls, 1O miles; to Tar·iiivilie, Corui., 1887-88 /lTOBS earniags, $1,294,800; net. $450,802; surplus over in- 1 mile; leases-Holyoke & Westfield RR., 10 miles; total, 137 miles. terest and dividends. $182,123. In year ending !.Tune ?O, 1887, gross In April, 1881, a controlling interest in the stock was sold to 1'cew York earnings were $1.239,633; net, $549,196; surplus over mterest, taxes New Haven & Hartford parties, and in June, 1887, the road was leaeed and gaar. dividends, $265,029. for 99 years to the N. Y. N. H. & H. at 1 per cent on stock tlll 1890 • then 2 per cent till 1893; then a per cent till April, 1896, and 4per ceni Na•hvllle Florence & Sheffleld.-Owns from Columbia, Tenn .. afterward. In 1886-7, gross income, $825,232; net, $121,982; deft.oil lo Florence, Ala... mth branch, about 73 miles. Extension to Sheffield under interest, $115,974. (V. 45, p. 13.) Nasbville. & Louisville with in progress. To be ooerated lo connection President, W. H. Smith, Louisville, Ky. New .Ter8ey .TuncUon.-Terminal road through Jersey Oity, Hothe trunk lines terminating at thoee Nashville & Knoxville.-Owns from Lebanon to Gordousville, boken and Weehawken, connecting Leased for 100 years trom June 30, '86. SO miles in operation; and under coostruction to Glen Alice on Cin. So. points; length about 5 miles. which company guarantees the Co., RR. R. H. & Ce.ntral Y. N. the to RR. Stock is $500,000. Trustee of mortgaJ?e, M~roaotUe Trust Co, bonds absolutely and owns tile stock ($100,000) of the company. The of New York. A. L. Crawford, New Castle, Penn. mortgage ts for $4,000,000. There is also a 4 per cent -~50,000 bond, Natchez .Tack•on & Columbu•.-Owns completed road from New- .Tersey & New York.-Owns from Erie .Jnnotton, N. J., to :Natchez, Miss., to Jackson, Miss., 100 miles. Stock, $2,028,850; par $50 Haverstraw, N. Y., 34 miles; Nanuet to New City, 5 miles ; operates The abOve new 6 p er cent mort. at $12,500 per mile will retire all prior Garnerville RR., 1 mile; total operated, 40 miles. The nre.sent comIlene and provide for future requirements. In 1887 gross earnings were on reorganization after foreclosure in-April, 1880. formed was pany •183,046; net over expenses and taxes, $55,935. Earnings for 1886, $1,440,800 common; $787,800 preferred; par $100. outstanding, 8took Street. Wlfiiam 52 Office, Y. N, f45,634. net, $184,325; srou, Uontro1 of road is with preferred stock and first mortg!lge bonds ~ill 6 1'ancatuek.-Owne from Naugatuck Junction to Winsted, Conn., per cent dividends have been paid on preferred st.ock for three years. 181- mllee; leased, Watertown & Waterbury RR., 4111 miles: total oper- Gros, earnings in 1886, $185,400; expenses, $139,753; net earuinga. ated, 61 milea. Leaaed for 99 yea.rs from April 1, 1887, to N.Y . N. H. & .M5,6fi1'. Groas earnings in 1987, $ L84,376: net, $25,353; dtflot~ B. at i206,000 per year. In year ending Sept. 30, 1887, gl'088 earnings under interest, &o., $1,447. V. L. Lary, President. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis --------- ---- ---- ·ss;ioi ---- ,. INVESTORS' SUPPLEMENT. [VOL. XLV-IIL Saherlbens wm eollf'er a -great CaYor by giving lmm.ecllat~ -n otice -of' any• error dltleoyerecl· ln these Tablea• . .Bonds-PrtiidDESCRIPTION. INTEREST OR DIVIDENDS. .. p al,When Due. Miles Date Size, or Amount 'Par Outstanding For eq>lamstion of column headings, &c., see notes of of Rate r,er When Where P~ble, and by 8tock8-Lasi _ on first page of ta.bles. Road. Bonds Value. Cen . Payable om. Dividend. - -· --1887 N.Y;~<Jhic.ct St. Louis-lat mort., g .. s . f., not d'rn.c* 513 40 N. Y. " Greenwood Lake.- lst & Zd M., income .... N.F:cfBarle·m -Com. and pref.stock,8p.o.N. Y.O .. 151 Od'mloi. mort., coup. or reg .••...•..•.......•.... o.. 132 N. 1.'f"i 'Lackawanna ti Western.-Stock, gua.r., 5 p.ct. 2H l~~ortgage . .................... . ............... o.. 200 2 mort.,.guar. by Del. Lack. & West ...••..•••.••. 200 l(. Y. :Lake .Erie ct West.-Btook. COID.lllon ..•.....••. 1,635 PreterrE-1\ stoc.1r;not cumulative ...••...••...•..•.. 1,635 N. "j". & E., 1:St m., Piermont to DIUl.kirk,N.Y.,ext. 446 •· do :td mortgage, gold {extended in 1879). 446 do 3 J m., gold (ext. 40 years at 4~ p. ct.) 446 do 4 t h m., gold, (ext. in 1880 at 5 p. ct.}. 465 . ·d'J 5th m or r-., e xt. in 1888 at4 p. c., gold. 465 Erie R 'y, 1st ru., B atfalo Br., Hornellsv. to Attica 60 .u,ng Dock Co ., old mortga ge . .................... o rto mort., g., ($7,500,000) red. at 110 Et-Je R'y l'lt consolidated mort., gold,$ & £ . .•. o* i,';i6 N.• Y. Lake Erie & West. tu.nct.ed coupon bonds .... 52t> do do lat lien bondi,, g .. .••. c• 534 do do 2d con. & fund. cp. bds c• income bonds (non-cum.) do do do do fd. cp.bds (red.105 & int.) OellateraJ Trust bonds, gold, s. !. drawn a.t 110 ... Car trust bonds, scr. C to G, incl., p art pd. every yr ..... N.· Y. Car., trust, '88. series A, (l(Uar. by D. & H.) Newburg & N. Y., 1 st mort.• ext' ,t in 1889 ...••. o* ·12 N.£. &L•q Branch-lat m.red. aft. '99 at 110,guar. 38 •· Y. ~ .llas11aclmsetts-lst mort (for $2,750,000) .. •. Y. ~ N • .Englund-Stock ($20,000,000 a.uth'rized) .Preferred stock, 7 per cent cumulative .•...••..•• . 1Jt; m.orte;a.g-e ($6,000,000 al'e 7s). .............. c* 321 2d M ., p :irt i-calt.-'d ($4,002,000 are 6s) .•..••. Mr 321 .... .... .... .... ·-·· 1875 isfa isso 1883 .... is47 1879 18.~3 1857 1858 1861 18.6 3 1885 1870 1878 1878 1878 1878 1885 1882 isss 1868 1882 .... 490 ·-·· i876 J BR2 $1,000 100 &o. 50 1,000 100 1,000 1,000 100 100 1,000 i,QPO - l,000 i,OCO 500c:l.o '100 ~ o 1,oc.(.i 1,VOO 1,000 500 &c. 1,000 500 &c 300 &c. 1,000 1,000 1 ,000 1,000 1.000 1,000 ·ioo 100 1,000 1.000 i,ew .J"ersey Sonthern.-The road extends from Port Monmouth, Sandy Hook, to Atco, 70 miles, with branch from Eatontown to pt, r.1on• mouth, 9 miles. 'l'he capital stock i& all owned by Cent. RR. of N. J. Tl.le ·l}roperty is subjeott.o a bonded debt of $1,590,600, of wbich all but$412,800 is owned by 1he Cent. RR. or N. J., and $200,000 on the Long· 'Bra n cb & Bea Shore Raih'oad. The N. J. Sou. bonds have inter• est 'condi'tionally guar anteed by the New York & Long Brauch Railroad by endoriicm ent of the bonds. The road is operated as a pa.rt or the Oentral N. J. S)'stem. Gross in 1886, $481,908; deficit, $36,321. Groi;;s in 1887, $540,402; n et, $ 6,917. NtJW London No;rthern.-Owns from New London, Conn., to Brattleboro, Vt., 121 miles, or which 100 miles leased to J. G. Smith and others. This r oad has been operated since Deo. 1, 1871, under lease to the Central Vermont Railroad; the lease was for 20 years at $150,000 -oor ~ar. and $15,000 for each additional $100,0CIO of earnings over 1510,000 per year. Dividends since 1876 have been: In 1877, ti&i per cent; from 1878 to 18 86, inclusive, 6; in 1887, 6~; in 1888, 7; in 1889 to date, 1 ~- In year en(ling Sept . . . mber 30, 1888, gross earnings werd $626,391; n-et, $194,067. Rental aud intet·est received, $:&41;582; paid-lnterest, &c., $91,198; dividend (6-½I per cent}, $97,flOv. Ne-w Orleans & GuIC.-The line or the road is from New Or~ea.ns eouth along th.1 Mississippi River to B ohemi ,, wit4 a bt·anoh, malting 681i mile!! in all compl~ted in 1887. Ca.i>ita.1 stbok a.U:thortzed, $30i),000; iasti'ed;ip241,3UO. (\'. 4.;:;, p. 613.) New O.rleans & Northeastern.-Line of road from New urlea.ns, La..., to Mel'ittlan, Miss., 196 miles. Brock is $5,000,000. This road belon~ ·tp ·tue so-called "Erlan.11:er System," and $4,a20,000 of the stock. an~$l~'900,00v of'the $5,00U,000 first mortgage bonds are held by the AliL N. O. & Tex.as Pal:inC Junction Co. There 11.l'd also Nu· trusts, pays -able·'at'Fanners' Lon,n & Tru:it Co. From Jan. 1 to N,,v. 30, 1888, (11 months) .irross earnings we1'8 $788,· &24, against $628,146 in l e 87; i;tet, $,1.12,000, ,ll-J;tain-st ;t;lOl,000. Io 18A7 . grosR ea,rniugs wt:re $7 1 ~, 782 ; net, $13a,039 ; de ti.cit under _all charges, $2l5,214. (See title ot Alabama New Orleans & Texas .Paoifl.o .Junction.) · N~ort News & 1'Il••• Valley.-'This company was formed under tile laws or Connecticut to lea.se and operate all the Huntington linee between Newport News, Va., and llemphis, Teun. On Jan. 1., li:,88, the-·:9ompany owned $5,579,600 Clles. Ohio & Southwestern common, andi$3,442,UOO preferred stock, $1,05~,5UO Elizabethtown 1£::ctugton & JU~ Sandy RR. stock, $3,000,000 Ches. & Ohio common, and $427,191 1>ref. stoc.lf, and $1,704,500 Ches. & Ohio bonds of 1918. Company reases the first two of these roads, aggregating 531 miles, the former· tor 50 years and the latter for 250 years, agreeing to pay flxtld ~~es so tar as neL ea.mings suthce, any Slll."plus up to 6 per oent to bel divided to lt-ssor companies, and the excess retait1ed by the lessee. Offices of Co., No. 23 Broad at. and New Haven, Conn. (V. 4'.>, p. 211.) New Yo1·k Brouklyn & Manhattan Beach.-From ·Fresh .Pond Junction to Ma.nhattim Bea.ch, and bra.nohes to Bay Rillge and oreenpoL'lt, 20 mile,., This was a consolict.ation Aug. 27, 1~85. Leased for 99 y ears from May 1, 1882, to the Long lsla.nd 'RH. Co. at 35 per -cent"-of gross t\a m.ings, but the rent.al gua.ra.uteed. to be at lea.Rt $&5,980 in each year; 1st consol. bonds are endorz1ed by L. I. RR. on 11pplicat10n. Sto'ek l13 $350,000 com. and $65\J,OOO l!.OD·CUWUlative prtlf, (par $LOO) . an(\ 5•per cent r er annum is paid on the la.liter semi•aunuall,Y .A. & O. by L. I. RR. Co. In year t:ndin9; Sept. 30, 'e8, rental was $103,250; defi~it Uiilier lnwrest and dividend $ l,125. -CV. 46, p. 3 ,33.) New York & Canada.-Owns from Whitehall, N. Y., to Rouse's l"olnt, N. Y., 113 miles; branches: Ticonderoga, N. Y., to Baldwin, )T. Y., 4 miles; Plattsburg, N. Y., to .A.usable, N. Y., 20 miles; West Chazy to Province line, 13 miles; total operated, 150 miles. L '}ased iu perpetuity and virtually owned by the Dela.ware & Hudson Canal Company, which guarantees the bonds. The stock is $4,000,000; par $100. ·1 n 1887-8 gross earn'gs were $922,~00; net, $330,207; surplus over int. $93;625. (V. 45, p. hsO, 614,856, V. 46,p. 2:.:8, tilO; V. 47, p. 140, 776.) New York Central & Hndson,-LINE OF RoAD.-Owns from Wew York City to Bu1falo, N. Y., 442 miles; branches on New York Oentr:l\.l division, 290 miles; total owned, 732 lililes; lines leasedWe~t Shore Ra., 426 miles, and branch es, 22 miles; Troy & Oreenllush, 6 miles; Niagara Bridge & Canandaigua., 88 miles; 8puyten Duyvil .& Port Moms. 6 miles ; N. Y. & Harlem, 136 miles; N. J. Junction, 5 lllllea: total, 688 miles: grand total, 1,421 miles. The second track ewned and leased is 877 miles; third track, 3l3 miles; fourth track, ~91'ttilles; turnouts, S28 miles-making a total of 2,432 miles o:r track Gwned . by the company. and 1,197 miles leased, 3,729 mil es in a ll. Also operates the Dunkirk .Allegheny Valley & Pittsbnrg Railroad, 104 mlles, ·but reported separateiy. ORGANIZATION, &c. -Tlus company was formed by a ecrsoUdation of t].le New York Central and the Hudson River railroads Oc.tobe1 1, 18f39. Tbe New York Central was a ccnsolirlation of seve1al roads u.nd~l" a speolal law of •April 2 1 1853. The Albany & Schenectady Rail• road, opened September 12, 1831, as· the Mohawk .& Hlldson, · was the 1lrs11 tWI.rOad built in the State of New York. Tho Hudson River Rail• road was chart;ered Mny 12, ld4_6, arid road oj)ene_d October, 1851. The West Shore Railway was leased m December, 188:>, fl'r 4'; 5 years. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $20,000,000 2,700,000 10,000,000 12,000,000 ·1 0,000,000 12,000,000 5,000,000 77,361,500 8,149,400 2,482.000 2,149,000 4,618,000 2,926,000 709,500 182,600 3,000,000 4,500,000 l6,890,000 3,705.977 2,500,000 33,597,400 508,008 4,025,761) 3,6~4..000 5,292,360 38:J,OOO 84,000 -1,500,000 m 4 g. 6 ·4 7 114 6 5 ··a·7 --- A. &O. N. Y., .Union Trust Oo. Oot, I◄• 1931 F. &A. None paid. Nov. O,l90 J. & J. N.Y., Gr. Cem;ral Depot. Jan., 18.1:19 M.&N. Q.-;J. ·J . & J. F. &A. Yeai-Iy. M.&N. 5 g. M.& 8. 412g. M.& 8. 5 g. A. & 0. 4 g . . J. &D. J. & J. 7 7 g . J. &D. 6 g. A. & o. 7 g. M.& 8. 7 g. M.&8. 6 g. -M. & N. 6 g. J. & D. J. & D. 6 5 g. J. &D. 6 g . M.&N. Var. 6&6 J. & J. 5 5 J. & J. 5g J. &D. .... .- . ·--· . do do N. Y. by D. L. & W. do do do do May, 19QQ .Jan., 1869 . Ja.n. 1, . ;1:9~1 Aug. 1, 1923 N.Y., 21 Cortlandt Bt. _J an. 15, 1.Ba,t. May l> ;1.897 Bept. -1, 19~9 Mar. 1, 19 3 Oct. 1, l91 June 1, 1$ 8 July 1, 1891 June, 1893 Oct. 1, l93i> Sept. 1, 1920 Sept. 1, 19io Dec. 1, ;J.90& Dec. 1, ½9.61} June 1, 977 Dec. 1, ll169 New York& London. Nov. 1, 1,92.'' N. Y., 21 Cortlandt-St. 1900. 102, •o~ do do $63,000 y•~ do Jan. 1, 19 do N. Y., 119 Liberty St. D ec ., 1931 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 La6t paid Dec. 1883. ---· ....... ........ · 19,'?a-l,000 2,450,001) 31g M:dtN. Bost'n Of.,2!4Fed'a.18t. Nov:·i:--1~88 10,000,000 6 & 7 J. & J. Bos., Safe Dep.& T'stCo. Ja.n., 1, 19if> 5.000.000 3to5&6F.&A. Bl>Ston. All~. 1, 1~ 2 STOCK A.ND BoNDs.-The famous scrip dividend of 80 per cent on th& capital stock of the New York Central was made in December, 1868. '11d on the consolida.non witli the Hudson River road (l'Jov. 1, 1e69f~ r •trther dividend of 27 per cent was distributed on · the ·New Yofk Central stook and 85 per cent on the Hudson River stock. In Nov •• 1879, 250,000 shares ($25,000,000\ were sold to a syndicate of blinkers by Mr. w. H. Vanderbilt at !!le pclce of 120, and 100.000 &hares · sold atterwards . . 1n Dec., 1885, a lease or the West Shore Railway wii& taken ror 4 75 yea.rs and the 1.Jonds or $"50,000,000 at 4 per cent gnarimteed, by N. Y. C. & Hud., and $10.000.000 West Shor~ stock ta.ken~ consideration. Div idends of 8 per cent per annum hao. been plj~d s1nce 1868, but in 1885 only 312 per cent was paid, and in 1886 to 1888. incl:U1ive, 4; in 1889. to datP, 1. Prices of at-oek since 1878 have bei,i: In 1878, l03:\,i.@115; in 187~, 112@139; In Hs80, 122@1553s; in l881p 13014@155; in 1882, 12311s1»138; in 1883. 1111ir@l2918; in _].884,. 8312~122; tn 1885, 81~@10714; in 1886, 9d~'@l173s; in 1~87, lOl~~ lUl!s; in le 88, 10 t11;@lll; in 1889 to Jan. 18, inclusive, 1073s@108lla. OPERATIONS, FINANCES, &c.-The New York Central & Hudson River RR. has an exceptionally rich local tra.ttto. but the protl.ts aJao depend very muoh uuon harmony amonir the trunk ltn~s. '!'he statement for the quart~r ending Deoember 31, partly estlni~ted in 1888, 13 as below given: . Estimated, 1888. .A<'tual, 188V. Gross earnings ............................ $9,170,000 $10,020,22f> 011ore.ting expenses........ ..... ••. .••. •• 5,975,000 6,470,510 Net earnings ...................... _. .. $3",195,000 Per ce~t of oper11.t'g expenses to earn'gs (65·16%) .ti·trst charges................ ............. 1,963,280 Ptoj_t ...................... , •• _ ..•• . . $1,231,720 Dividend, 1 per cent...................... 894,283 $3,5-19,716 ____ .,..,_ (o4·57%) 1,954",860 $1,1>~4,85~ 894,283 Surplus................................ $337,437 $700,57~ .Annual report for 1887·88 in CHRONIOI:.E, V. 47, 1'· 706. Year Net Income, Divi• endiilg Passenger Freight (ton) Gross over exp., denda, Sep. 30. Mileage. Mileage. Receipts. int.& rents. p. o. Burplll1' 1883.429;385,561 2,200,89ti,780 $33,770,722 $7,327,156 8 $179;0U 1884.387,829,886 1,970,087,115 28,148,667 4,668,759 8 *2',490,88f; 1885.438,3U7,7'i'4 2,1J7,824.205 24,429,44:l 2,176,342 3¼ *953,651 1886.476,128,729 2,414,266,463 30,506,36"2 4,650,100 4 · l;072;il68 1887.528.308.742 2,704,732,176 35,2H7,055 5,147,509 4 1,570,377' 1888.559,816,001 2,899,501,!>01 36,132,920 3,657,118 4 97,'i86 ---.-:Oeflcit. In 188t.-5 total d eficit was $2,295,072. -tV. 46. - p. 38,172, 200,352,610,803; V. 47, p. 21, 81, 170, 381, 39:> 683, '706, 802.) New York Chicago & St. Lonl•Kdl •·oad.-Ownsfrom Bu.1'faJ0 N. Y ., to Illinois Sta to Line, 513 miles: leases in Buffalo 1 .. miles; nu nois State L ine to Chica~o. 9 miles; total, 52a miles. The former Railway Co. was formed in 1881 and became known·u the "Nickel Plate." Sa.Le in foreclosure took place May rn, 1887, :_iitHl the preseut company was formed tn Septembt:1·, 1887. The •first •pref stock is for $),000,000, and has a 5 per cent preference. non•cunm~a tive and the preferred stock for $11,000,000 has next prderence f'o.r 5 per cent, non-cum; common stock: is $14,000,0 uO; par of till ,.100. A sinking fund or $100,000 per year is :provided when the net earnings a:re ,~oo,000 or upwards, if bonds can be bought at or below 102; i! riot, the sinking fu.ud ltlp~ei for that yei:\r, thu!! leaving $ lOO,t)()IJ more for d1Yldends. Le.ke Shore & Mich. Southern owns $6,240,000 common $6,275,000 2d pref. and $2,503,0UO 1st pref. stock. Boo a.b8tract of mort~a.ge {Central Trust Company of New York, t rmtoe), V. 45, p. 541 Large exp1md ·turea a.re being m de troru earnings for ranewals. &&; and charged to ope,..ating expt1nses. Fro.n Oct. 1, 87,ro s ~pt. 30. 88 tl2 montus), gross ea.rmugs w ere $5,06 ~.175. against $4,569,590 In 1886 7; net earningd, $1,106,300, against $1,3i7,509; E.urplus ·ove:r iuterest, taxes and umta.ls, $101:1,122 iu 1 ~87·8. .For the year ending J>eo. ;,1, 18~7, the reports t-o the New York State Cou11nis1:1ioners (V. 46, p. 200) showtd: 1886. 1887. $3,826,frOS Gross earnlngs .......................... $4,7~2,352 2.552,19'2 Operatrng expenses .•••.••..••..••••.••. 3,508,388 $J.,:l74~4,,(Q Net earnings .••...•...•..••......••. $1,283,9H4. .. 405,06'9 Rentals, ta. xca, &c ........ ._. ••. • .••.•..•. '"4.i,,63 l ' $869;3-A1 Surplus.............................. $8J8,a33 * lllcludes $200,000 Interest on bon:ls in 1887, but none in 1886. -(V. 46, p. 200, 480, 573, 650; V. 47, p. 563, 594; V. 48, p. 100.) New York & Greenwood Lake.-Owns from Jersey City, '.N. J to Greenwood Lake, 48 miles; branches - Rlngwuod JunctioD to Ringwooq, 2 .tniles; North Newark to Orange, N. J., 8 _miles; _total, qS m).les, This was the Montclair & Greenwood Lake, sold October J,:2, 1878. TlleNew York LakeErte & West. pm·chase.a a coutrolling 1nterest in the property and now operate it. Tho holders of the 2d mort. 9f $l,800,000 have e. right to pay oif the 1st mort. bonds of $900,0QQ at 105. Stock $100,000. GroM earn!njl;B in U:87, $2-l3,54u: n et, $8,40t; pa-, 1~t'11t11. ~O,l'i3; deficit, $21,76•.1, against $U,656 in 188G. .A.braln Hew1Lt, PJ:esulent. JANUARY, 18{!9.J RAILROAD STOCKS AND BONDS. S-nt,scrlbeps Will conl'er a great favor by giving Immediate notice of any err..- discovered_In the•e Tables. DEBOR"Q'TTON. .._...,h .u.,8 m• l)a+h ""' . 8 1ze, or Amount , INTERERT O& DIVIDENJ)S. 1• For expl;3.nation of column headings, &o., ae~ notes Rooafd. Bconf_ds. VPalaure. Outstanding .n_~te per When on first page of tables. N. Y.ct New Eng.-(Oont.}-Mort. notes &cont'tliab_ T~rminal honrls for $1,486,000 -···············-··· 4 1st ;M. on R ockville RR. f'1r $ 100 ,00<'_ ..•......... Net1, Yorlc Neto Haven d Har(ford-Stook. ·······- 509 lat Mortgage bonds, (for $5.000,00 ,l} ····-···-· .. I" 123 12 Harlem & Portc llester, leas1>d, 1st mort. guar. . c&r 12 do do 2d M., coup. or reg., guar .. 54 , Y. ti Northern-lat mort .• ~oH _· ·· -· ······ ....•. c 54 2jlmort.,gold, (iu cometillDeo., 1891}. · ···· -···c Beu, York Ontario ,i;, West.-Sto ck ($11,000 is pref.}. 417 let M•• gold. for $4,000,000 (rcdeema ble at 110) . n 320 N-ew York, Penn.. ct Ohio-Prwr tien,g oid, $ & £ ... o* 432 1st mort., gold (no foreclosure till 1 895,) $ & £ c* 432 2d mortgage, incomes , $ ~\t £ ..•...•. _.......•.. . c* 432 3d mortgage, incomes,$ & .£ .•••.••• . ····-······c* 432 Equip. trus t. bun<ls, s. f. 3 p. c , (1nm. (dr'n at 100) Deferred int. w arr a.111 s, <'.Onv. into ht M. bonds . 2l New Castle & Shon a11go Vt1iley , 1st M .. int. guar . N, Y. Phila. d: Norfotl~-lRt mort.. g .. $16,500 p. m. 112 Incomemort., n on cumulative. $10,000 oermile .. 1.9, Y. Prov. d! Bo11/.on-(Stonington)-Stqck_...• _... ·s2 50 First mort~age. Provitfonce to Btoniugton...••.. c* 12 1st roortga~e (Stonington to New Loudon) ...... c* II.Y.d:Rocka111ay HM C'1,--lst M. g .,en t'sed byL.I.c* 16 Income llorrdi!, n on•cumnlative . .... . ..... .. ...••. r ·;.;3 If Y.SttSqueh.d: •V estez•n-lst M., g ., Mirt. of N. ;J .••. c lpt mort~ll,ge Paterson Extension RR , gold ...... . First mort. , refunding, gold (2rl M. on 72 miles)._c iii New 2d M. ( $1,000,0,10 g,1ld). 3o. M . on 72 miles . . 134 ~i N, Y. Tex d: .Mex.-lst M .. u;., $ or£, gu. by So. Pac.c* 100 NiqgaraBridge d: Oana'l'i'd-Stk, 6 %rent.,N. Y. Cent 75 Nol'foLk Southern-lat mortgage, gold ........•... c• 7::,; 211. mort~ll,~e. i nconH1 1not r.nrnnl R,t-i~P.l . •. . ••• _-"* · '77 ,87 1gs; 9 1889 $1,609,157 var.4to 6 VartQus 4 $i'oO 15~500,000 i893 l,OOO&c 2,000,000 1,000 187::$ 2,000,000 1,000 1R8 1 1,000,0◊0 l,O!>Q 1887 1,:W0,000 3,200,000 1887 l~OPQ lflO 58,124,982 ~-{,189,000 1,000 1880 500 &c. 8,000.000 1880 500 &c. 44.283,000 188Q 500 &c. 14,500,000 1880 500 &c. 30.000,000 £LOO 188 8 £240,000 $9,439.760 188 7 250,000 1,848,000 1 883 $1.,()00 1,000 1883 1,000,000 100 4,000,000 i869 1,000 l,OQ0,000 1,000 1881 300,000 1,000 1887 800,000 1.000 1,000,000 1887 1880 500 &c. 3,500,000 1,000 1881 250,000 1,000 18~7 3,750,000 1,000 1887 636,000 1882 500 1,442,500 100 1,000,000 1,000 900,000 iss4 isso 1 ~ Il l Cent. Where Payable, and by Payable Whom. , (\ fl ') , fl() '\ fV)fl 5 •••• Boston. Bo naw;-:-Pr~ol p~l, 1 ,, uen~.,.e ~"!-hut D1viden~. '89, •90, •1.•z;a 19~ 1~ 19 , ;Jap.. 2, 1889 4 June 1, 1903 do do 6&7 .A. & O. Oct.i_l!W3 J. & n. do ilo 4 Ju.w, l, 1911 5 g. A.. & 0. N. Y., Office, 6 Wall st Oct. 1, 1927 4 g. . . • • 1st coup. due ;June, '92. Dec. 1, 1927 21sl Q: :..·j, New Haveu,Co.'s Office, J. & D. N. Y., Chem. Nat. Ba.nk. ··a·g. M:&·s. N.Y .• Office 18 Exch. P 1 Se:gt,T,"1914, u g. L\f. & 8. N. Y. Fa.rmers' L, & Tr. M,a.rch 1, l.89~ 7 g. J. & ;J. L ondon. July 1, 1905 5 g. M. & N. N one p aid. May 1, 1910 5 g. M. & N. Nono paid. May, 1915 .ll. & N. London. MQ.y, 1, 1908 5 ..6.g. 6 g, 6 219 7 4 5 g. 5 6 g. 6 g. 5 g. 419£, 4 g. 3 6 g. ~ Fannei·s;·L. .T. ·&·;r._N'. Y., & Tr . ;J. & J. Phila., Penn.RR. Ot'flce. •. .• do clo g-Feb, N. Y., Central Truat Co. J. & ;J. do do A.. & O. do do :ir. & s. N. Y .. Office, 115 B'wa.y. . ••. No interest pa.id. A.. & 0. N. Y:, Nat. .Park B ank. T. & D. N.Y.Otfice, Vi CO l'tl~11dt .J. & J. N. Y., Nat. Park Bµ,nk. F. & .A. N.Y.Offioe, l5Cortlantlt A. & o. N.Y.,So.Pac.Co.:Vlnrl'n A. & O. N. Y., Cent. RR. Office. M. & 8. Int. :fund. till Sept., '89 y,, ., ,-1 ....,. . .. .. .ru(v·1,--i917 ;Jan. 1, 1923 Oct. 1, 1933 Nov. 10, 1!~88 ;Jan., 1899 April 1, '1901 s a,,t. 1. 1M7 Sept. 1, 1927April, 1, 1910 ;June 1, l~lo Jan. 1, 193 Fell. l, 1937 7 .Apr. 1. 191z Oct. 1, 1SS 8 Sept. 1. 192"' .T<in. 1 . 19'7• New- York & HarleID.--Owns from New York City to Chatharu, \ t 01 these amou.ut8 there were paid to the N. Y. Penn. & Ohio a~ i • N. Y., 121 miles. From Chatham to .Albany, 24 mile!', the Bost, & Alli. proportion (32 p. c. of its g 0 A earnini:ts) iu 183[•S6, $1,971,5:SJ, :u BR. 1s used. Thia C!)urnany owns the Fourth Av~nue street railro;;1d. l::!86·87, it:2,036,841; in UB7•88, $2,040,949. · The property (except the horse railroad) w_as leased A.pril 1, 1873, ror COM.PAR,A.TIVE STATE;'llENT OF PliOFIT AND LOSS. 4'01 years, to the N. Y. Central & Hudson Rn-er RR. at 8 per cent divi• 1883-86. 1886-87. 188'l-8!f tdends on the stock a.nd the mterest on the bonds. The v :i:of. stock is $ ~.Ore<f,its$ $ $, 861,350, balance co_mwon: Tile Fourth; ave. ho!8e railroad has paid E arnine:s-M.ain line & br@. 22,:'i00,048 24,210,353 24,832,ijl,3 o dl-viclendi a,unuall.v m April, :md tbes.e stnce 1876 have b een: Iu 1877, WorkinO' expenses 16 388 638 17 390 673 18 00:.l ,.._70 0 '2 ·per cent: 1rom 1878 to l!:!81. inclusive, 3; fr,)ln 1882 to 1888, inclu•••••••••• _ ' . _ _ ' _ _ .:_ _ _: _ _ .:_ _ _ , __ elve, 2. All operations included m N. Y. Cent. & Iludsun.- (V, 47, P 50.) Net earning~.............. 6, 1 1 1 , 4~0 6,8l <l,6S5 6,82!;},3~0 29 2 05 - 1 New York Lackawanna & Weste-rn..-(See Map of Del. Lack. Pavonia ferries-earnings.. 272.527 305,2!5 4 West.)- From .Bingh.amton to Huffaio and International, Bri<!ge amt Interest on securities....... 42-i,829 401,508 391,SQ7 bra:nch0J1, 214inile~1111Utunder tbe auspices o:t D.e\ Lack.. & Western. Other credit items.......... 229,109 266,623 240.'119 to,whlch comra.ny it is leased for 99 :vear.s, with a ~uaraµt,v of the bonds ------ ----- -- - - ~d 5 per cei,tyearh' on tbe stock. (Epdorsed on tll~ certificates) Sept., Total creclita .............. 7,057,8 69. 7,760,343 7,767,l~l 3(), •a7, ow~d D. L. & w. for adva.nces $1,169,9,)1. Total debits................ _2,013,253 7,158,5!.4 7,028,348 New York Lake Erle &: ,vestern.-Main Hoe Jersey City to BalR.nce............ .••••.• stir. 14,611 sur. 601,799 sqr. 738~8i3 '.Dunkirk, N. Y., 4 !10 miles, with hra.uches 576 miles total 1,030 wiles * Allowin~ for full interellt on 2d consol. bondR. whether pa.irl or not. Owns-Piermon t , N. Y., to Dunkirk, 446 miles: bra.nches-New'lur.e;. 19 m . ; Buffa~o. 61 m.; Newburg & New York R&., Vails & Gate ;Juno. to -(V'.46,p.371, 538,ti50,6n, 771; V.47, p. 278,653,662,664, 6(;;5 690.) Oreenwood ;June•., 13 m.; sma ll lines (stock owned) 10 m.; total owned New Yol'k & Long B.ranch.-)wnsfrom Perth Amboy to -~ 5-19 mlles. Leases-;Jera~y City to e u1forna, N. Y. (se veral smlf ll roads). H t srl, 38 miles. It ii, operated jointly by Cent. N. J. and Penn. R~.,, 3i in: Jetr.,rson RR., 45 m.; But. Brad. & Pitt2., 2t:i m.; Buff. N. Y. & at a guar. reu'l of $221.000per anuum. The Cent. RR. ot New Jersey ~rie, lfO m.; Suspen. Bnd.2:e &Erfo;Juu c. 24 m.; 'Roch. & Gen. Val., 18 owns all of the stock, and ha-a deposited $1,500,000 or it a .secm~ty for ~.; Avo~ (ten. M:t . Mor., L8 m; Buff. & S. W., 66 m.; Northern o:t N. ;J., its own ~eneral mort,rage. The bonds are redet'm:1ble aftE:ir .Tuo~ 1 1 lf?99 2$ m.; other small lines, 93 m.: total leased, 487 m.; total tit. Y. L E. & at 110, and are guaranteed (endorsPd) by C'en t. New Jersey. In 1887 W, 1,0 ,6 m. Al, o leases N. Y. Penn. & Ohio ani branches, 599 milee. gross earnings were $652,039; net, f96,570. -(V. 46 p. 172, 255.) 'Total operated 1,6 J5 mtles. New York & Massa.chasetts.-Owna rrom Po1lgllkeepslf} to ORGANIZATION, LEASl!:S, &c.-Tlle New York & Erie RR. was ch~rtered Boston Corne,,., 40 miles, 1'nd lea-aes Newburg Drrtclless & Conn. J)qtq}l~pri.[24, 1832, and the State of New York loaned the company $3,000,· e8s June. to Millerton, N. Y ., 59 miles. Projected to Chi(loped, M;~sa.,_'.(3 QOO; the road was opened to Dunkirk April 22, 1851. Tile company miJ~s to ajnnction wirh Cent. Mass.• to form through ront-e, 197 n:nles. was .reorganized under the name of Erie Ra.iJ.w.a y Co. ;Ju:ie 25, lStH. from Boston to Hudson River. This road em~racea the former Pt)µ,g}lTh!!! Erie Rall way was sold in foreclosure under the second consolidated k Pep-.te H ar tford & Boston. foreolosed iu 1886. The bo uda have nor yrt mortgage in 1878. The pre'lent oompany was organized aml tQok beeu issued. Stock authorized. $2,500,000; pQr, $100: issued, $1,Q,U,,• possession ;June 1, 1878. The Long Dock Co. has stock or $800,000, all 000. G. P. Pelton, Presid~nt, Pougl.tkt!epsie, N. Y. (V. 47, p. 6-26.) owned by the N. Y. J,. E. & W.; its property f•ousista of lnn<fa and lanrls under water, about 5 77 a cre~, with piers, buildings, &e. Tue N. Y. L. E. New- York & New England._-The mileage owned ts as , f 1& W. Coal & RR. Co is an auxiliary oorporarlon from which advances lows: Boston to Hopewell ;Junction, '215 miles; Wicopee to Newbu g 3 of $2,047, 0 81 ar~ due, as per balance "beet of Sept. 30, 1888. On May miles; Providence to Willimantic, 59 miles; branches-Newton, Mass.., 1, 1883, began to operatetlle N. Y. Pennsylvania & OWo mder lease. to Woonsocket, R. I., 28 miles; East Thompson, Conn., to. 8oJtthSTOCK AND BONDS.-Preterred ~tock has a prior right to 6 per cent bridge, Mass., 17 miles; East Hartford to Springtleld, '.!.7 miles; o~r (non-cumulative) from the net profits, "as declared by the board of di- small branches, 12 miles; tota.l owned, 36l miles. Leasea-Franlp.i.n - to rectors," but the U. S. Supreme Court held in 1886 that thi~ stock has Valley FallR, 14 miles; Vernon to Rockville. 4 miles; Franklin to A,§11no legal right to claim a di 7idend, thongh net earnings are sufficient. land, 20 miles; B. & A. RR., 1 mUe; Norwich & Worcester R.R., 66 miles; Dividends since 1876 have been: On preferred stock from 1882 to total leased, 105 miles; also has running arrangements o,er 24.m.U,ea more. Total. 49,> miles. Controls Norwich & N. Y, Steamer line. 1884, incluNive, ti p er cent-nothing since. The former Boston Hartford & Erle Ra1lroact necame rnt1ul vm1.t and ~ Prices or oilm. and pre!. atook since ;June, 1878, have bee"\ as follows: Oom.-In 1878, 758@2212; in 1879, .?11811)49; in 1880, 30'@5118; Ln 1881, suce.E:e.ded by thia company, formed in 1873. From ;Jan.1; H~d4, to Jan. 8911!@5278 ; 1n 1882, 331411)43~; in 1883, 26 7s@40 7e; in 188-!, ll 18@283s~ 1, 1886.ro~d was in hands of r .!cciver. Trust-ees ot lat ~or~. are BQSWll ln.1885, 9 14@277e; in 1886, 22¼WS83s; in 1887, 2412~3558; in lH8~. Safe Deposit & T'rust Co. ; of 2d mort., W. T. Hart, E. 0, F~tz, anCl F. :J. '22:ta 030~; in 18:39, to ;Jan. 18, inc~lusive, 26~ @291,J. ~re:t.-In 1878, Kinl{sbei-ry. •terminal bonds to fund tbe terminal indehtedneas were '2119'@38; m 1879, 3712@7818; in 1880, 47'@9312; ln 1881, 80-½)'@96¼; 1:i.uth0rized in Dec., 1887. Stock is reserved for $266,1 100 conve\'.IJ,bl.6 1alS82, 67@81314: in L883, 72@83: In 1884, 20'@ 7 l: ln 1885, 18·ct57; in Botot. Hart. & Erie Berdell Londa. Tbe 2d mortg. bonqe beaJ" 3, ~ be,]ance,,f term• . 1886. 50lgtZ>81 '2; 1n t887, 591)76; in 1888, o212W6719; in 1889, to Jan. cent to Feb., 1890, 5 percent to Feb ., 1892, and6for Di~ ttiends ()n preferred stock have been: ~1 rom 1886 to 188~, tw,lul.S, inclusive, 61 'Qll>5~. 'llhe ftr.,.t lien bontls of 1878 bave an accumulative sin.kin~ f1md or. sl,e, 7 p ...r cent. $100 1000 yearly aud rui~ht be drawn, bnt the company "has decided Ranire in common t\t.ook prioM since 1888 has been: In ,ss3, 17-le-• that roo.emption Rhall be by purchase 1,nly." 52~: 1n 1884, 8?»17~; i~ 1885, 12½r@39'; in 1886. 30¼11,b68~la The lat consol. funded conpon bonds are secured by lien of oonsoll• 1887, 34:\1066; in 1888, 29191i>5314; in 1889, te Jan ..18. loo,, 42)\:.,@i'.~lfe.. dated mortga~e. On the secon'l consolidated w...1rtgage (Farmers' Loan Annual report tor ye8,J" ending B-,pt. 30. 1888, in CHRPNIC~~.:v• .4.,7. dr; Trust Co., tru~t.ee), no foreclosure can take t>"ace tal six successive p. 622. Operations, &c., tor four years pa.at were: eonpons a.re in default, but all of one coupon must be paid before any INCOME .A.COOUNT. pa.rt or a subseqw)11:t coupon is p~d. In 1883 the collateral truat bonds 1884•8;), 1885-86, 189g-s1. 1$Si~ss. vere issued (the J. 8. Trust Co. trustee; see V. 38, p. 509), redeemReceipt&$ $ &bl~ at ll0 on three months' notice. The 2d consol. rumled coupon bonds cf 1885 were issu ed to fund three past due coupons and the coupon .of Grosa earnings ...•••• 3,288,046 2,86.:l,994 4,156,917 5,268,I-Wi .Jnne, 1886, the coupcns being deposited aa security. Tnese bonds are Set earnin~ ..••.•••.• 987,231 1,243,389 1,233,603 1,518,.SOB 65,768 5,0!13 23,473 35,411 ~~maMe at any time at 105 and acerued Interest. ·rhe Long Douk 0th.er receipts .•••.••• mort. for $i ,500.000 was lssued in 1885 ($3,000,000 being reserved to meet tne old bon,1"1}, and the bonds are payable at 110 :from 1anrl sales. Total income..... 1,010,704 1,278,800 1,299,371 1,523,849 ()PERA.TIONS, l•'INA.NCES, &c.-The income account for several years Disbru1·sements$ $ $ $ 130,13'A 66,235 66,636 353;'144, •howed a corlsiderable surplus over tlxed charges, but in 188a•84 the Re nta ls paid . . . . . •• • income fell off largely, antl there was a. deficit below interest, and tllree Cnterl'st on honds~. • 933,221 964,629 961,0i7 987,8'11. eonpons, June. 18iH, to ;Jun,., '85, on the 2d consolbonds, were passed. fat. on floa t ing debt. 28,769 91,269 32,041 9,507 ··s:~43 .ii:-S67 F~om Oct. 1, '8 ..t , to Nuv 30, '88 (2 mos.), gr<•ss ni.rnings wer,1 $ l,8 22.· [nt.oncart.r's •s J& miR. ____ 13'.· W00 135.~75 13A.4l.6 ~14, ag'st $-i,9 t 0,406 in 1 87; net, $1,82.:l,090 , against $1,836,187; 7 p. ('.div.on pr. Et'k net, after de<iuct-mg proportions dne roads l'•perat1:d on a perceutago Tot'ldisb'ments. 1,l~4,l63 1,2ti7,u,.,o l,17t, " .:il 1,4~2,~!i~ basifl, $ 1,412,479, agaJrun $1,388, 95. The annual r epor t for year ending Sept. 30. 1888, was pnhlished at Balance.............. def. 113,459 sur. 11,160 sur.127,140 sur 3~ 1411 len1rth m t ne C)J{RONICUJ, V. 47. p. 66·2, 6 t>5, The earnings include the . * Includinf! full inwre,st on bondEJ, whethPr paid o r not. -(V.46, p 171,320,538,699; V.47, p. 21, 81, 2L8, 56d, 62~, 74!'>, 776.) !f. Y. P enn. & Onio and all the leased lines Ne,v York New Haven & HartCord.-OwnR from Harlem JJJ,qc1885•6. 1886-7. 1887-8. N . Y., to Sp ringfield, Mass .. J23 miles; bran<'hes to New Britain, Middle$ $ $ 2fl,567,8:i9 27,217,9 C9 tnwn aud Suffiel<l, 18 miles; total owned 142 miles ; leasea-Shore Lbie ~otaJ 11 rof s earning @...••... .24.756,066 2,3;>7,501 2.:•H~5.17 1 RR., 4g wiles; BoBton & New York Air Lin e aud branch, 55 m.: New Proport'n prud lea ~cd lines. 2,256,019 L~vlng a.s gross revenue.•• ~;500.048 24,210,858 :t4,8il2,dUJ Haven & Northampton RR .. Ntw Haven , Conn., t o Conway ;June., 16,388,638 17,390,673 Total uparating e.x.pensee ..• l8,00~1.4H9 Mass.. a ·ul branchet1, 137 m.; Naugatuck RR., Nane:atu r11t Ju t c. to W.\11~te<l. Cor, n., and branch, 61 m.; Hart. & Conn . Valle,y, H ,l.rt:ford tp Fro:i,Net earnings.. • ..•...•..••• ti.l ll,4l0 6,819 ,685 6,e2U,::l50 witk, C,mn., 46 m.; other lines 20 m.-total 1ease,1. 3U7 m.-i. tot al 9D,erP.c.ap.t'IXp. to tot. grJs~ earn. 66·2005 65·4.575 66·1454 ated, 509 m. This was a consolidation July 24, 1872, of tile .i, Y. & Nl'tr https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 INVESTORS' SUPPLEMENT. [VOL, XLVIU., Subserlben wUl aonf'er a ~at Cavo1 by glvlnc lnulledlate notice oC any error discovered In &h.eae Tablea. .Bonds-Prlnoi INTEREST OR DIVIDENDS. Miles Date Size, or Due. Amount Rate per When Where P-Miable, and by pal,When Par Outstanding of of StockB-Last Road. Bonds Va.lue. Cent. Payable om. Dividend. DESCRIPTION. For explana.tion of column headinga, &c., see notes on first page of tables. Norfolk Southern-(Oon.J-2d mort. debenture •.. c* Funded int. bonds ($270,000 secured by coup's)c* Norfolk ce Western.-Common stock .••...•. . ......•. Preferred (6 per cent) stock .. . ...................•. Genera.I mortg1e, ~d (for $11,000,000i . ••... c • let M., gold, on ew ·v. div•. . ....•..... . ....... c* lmprov. & Ext. m., ~old, i$8,000,000 a.uthor'd) . c• Adjustment mort., gd (re 'ble iJ.fter '94 at 110).c* lat M. Clinch Va.lley Div., gold, $17,000 p. m . . c* Equip. b'ds,10-20s, 1;.f. 3%,drn at 100 aft. May,'98 . Ca.rtrust ..•...•...•...........•..••...•..••. . .•. . ... Conv'ble debent'res (red'ble on 30 days' notice).c' Norfolk & Petersburg-2d mort ............. . .... c South Side-1st pref. con. M.(ext. in '85-'S6-'8 8,.o do 2d do guar. Petersb'rg.c do 3d do ...•...•......... 0 Vir~a & Tenn.-Enlarrd m. (extend'd in '84) .. c o do 4 h mortga~e ..•. . ••. . ..... No.Oarolinar-Btock, com. , 6 till 1901.Rich. & D. Pref. stook-6 c. rental t 11901. Rich. & D . . Mort~age bon , to replace those paid in 1888 .. North Pacific Ooast--lst and 2d M. (1st M. sink. fd.) 1st mort. N or1 h Paci:fl.o Coast Extension Co . •..•. . No. Penn.--Stock, 8 % gua.r. 990 yrs., Phil. & Read . 2d mortgage ..•..••.......•...•..••. . .. • ...••.....•. General mortaag& bonds .................. . ........ Bonds secure by $1,200,000 stock ...... a •• ••••• r Northe«suirn (S. O.)- Btock .. . .... .. .... . ...... . ..... lat mortgage, provided for by consol mort. . . . . .. c 2d mortgage, provided for b y con sol m ort ...•• .. c Consol. mort., gold (for $1,836,000) . .........•.. c Northern ( Oal.J- lat M.,int.guar .. ($6,300,000) ,gold. Ban Pablo & Tulare-let ($3 .7 50 ,000) , s. fd . 1 pc. ;{y £; .... --1881 A. &O. Int. fund. till Oct., 1889 $250,000 6 $1,000 300 345,000 3¼to6 Yearly. N.Y., Mercantile Tr. Co. 100 7,000,000 .... ""iig 100 22,000,000 Philadelphia,Co,' sOffice 6 g. M."& N. N.Y.Ccnt. Tr. Co.&Phil. 7,094,000 1.000 6 g. A. & 0. 1,000 2,000.000 do 1882 do 6 g. F . &A. 1 ,000 5,000,000 do do 1883 1,000 7 g. ~--M, do do 1,500,000 1884 2,500,000 5 g. 1\ .& s. do 1,000 do 1887 5 g . .J. & D. New York and Philadel. 1,000 1,100,000 1888 1,327,407 Var's M'nthlJ N. Y.Cent. Tr. Co.&Phil. J. & . Philadelphia Office. 500 525,000 6 1884 1,000 496,000 J. & J . N. Y.Cen. Tr.Co. & Phil. 1868 8 1 ,000 403,000 5, 6&8 .J. & J. do 1868 do 327,800 5 &6 J. & J. do 1868 100 &c. do 6 J. & J. do do 1868 100 &c. 452,800 J. & J . do do 1 ,000 985,000 5 1854 J. & J. do 1,000,000 do 1,000 8 1866 Burlington, N. v. 3 M. & 8. 100 3,000,000 do do 3 M. & 8. 100 1,000,000 .... oci: •2r;", "isss Mall 1, 1931 Apr 11, 1932 Feb. 1, 1934 Dec. 1, 192~ June 1, 1957 June 1, 1908 Vartoua . Jan.15,1894 July l, 1893 1890 & 1900 1890 & 1900 Jan.1,'96-1900 June 30, 1900 Mch. 1, 1900 Sept. 1, 1888 Sept. 1, 1888 M:&·N. San Francisco. do do J. & J. q.-F. Phila. Of., 240 So. 3d st. 2 do do M.&N. 7 ,J. & J . do do 7 M.& 8. do do 6 Charleston, Office. 3 J. & J. M.& 8. do do 8 M.& 8 . do do 8 6 g. J. & J . N. Y., John Paton &Co. 6 g. .r. & J . N.Y., So.Pac.Co.,23Br'd 6 g . A . &O. do do Nov.·i~-°i901 Jan. 2. 1889 Nov . 25, 1888 May 1, 1896 Jan . 1, 1903 Sept. 1, 1905 Jan. 5, 188 9' Sept. 1, 1899 Sept. 1, 1899 Jan. 1, 1933 Jan. 1 , 1907 April 1, 1908 1884 554 .... 554 428 iss"i 127 533 533 115 ---· . --· 00 0 81 133 133 133 214 214 223 223 223 76 .--· i8si 1883 ·ss .... 56 ---.... issi i¥o is69 102 102 1869 1883 1877 i49 47 U:!78 .. ifo 500 &o. ---- .. ifo 500 500 1 ,000 1,000 1 ,000 Haven and the H artford & New Haven railroads . The company u ses the N. Y. & Har. RR. from Williamst>ridg e into N. Y. City and p a ys a large rent therefor. The company lea ses t he Harlem River & Port ah.ester Rairoad, and guarant ees the b on ds. In July, 1887, the New Canaan road, the Naugatuck, the New Haven & Northampton and the Hartford & Connecticut Valley were leased for 99 y ears. Dividends ot 10 per cent have been paid regularly since consolidation 1n 1872. It is propr sed w increase the stock See V. 48, p. 100. Fisca.l year ends Sept . 30. Report for 1887-88 was in V. 47, p. 707. 1884-85. 1885-86, 1886-87. li87-88. Road operated...... 265 265 265 508 $ $ $ $ Total #U"OBB earns... 6 ,895,824 7,601,956 7,890,209 9,970,036 Operating expenses 4,449,288 4,775,830 5,434,288 7,126,778 Net earnings......... - -·- - Di8bursemenls- "Renta1a paid*.....••• Interest on debt .. •.. ---------2,455,921 2,843,258 2,446,536 2,826,126 425,668 250,000 442,876 250,000 452,028 250,000 692,876 2,133,250 1,550,000 702,028 1,753,893 1,550,000 --675,668 Total ...... ...... . 1,550,000 tf'JA:i:<is·i>d.:ic>" p.o: 1,770,868 959,538 250,000 -1,209,538 - -- 1,633,720 1,550,000 ----------- Ba.lance....... .. . 220,868 583,250 203,893 83,720 ~ncluding rents of depots and grounds. -(V. 46, p. 289, 650; 47,p. 21e, 594, '10'1, 72a, 745,776; 48,p.100.> New York &; N orthern.-Owns from 155th Street and 8th Avenue, New York City (connecting with Metropolitan Elevated), to Brewsters, N. Y., and branch, 54 miles; also double uack branch from Van Cortlandtto Yonkers, 4 mil~s: total, 58 miles. The former N. Y. Oity & Northern was sold in foreclosure Au~. 17, '87, and this company was organiZed with common stock of $3,000,000 and non-cum. pref. 5 per cent stock of $6,000,000; par, $100. Trustee or 1st mortg. is Central Trust Co.; of 2d mo1 tg., Farme1s' Loan & Trust Co. For year ending ~ept. 30, 1883, gross earnings were $563,127; n et , f70,163; surplus over fixed charges, $10,163. (V. 46, p. 449,828; V. 4.7, p. 473.) New York Ontario & Western.-Owns from Oswego, N. Y., to Cornwall, N. Y., 273 miles; branches to New Berlin, 22 miles; to Delhi, 17 miles: to Ellenville,8 miles; total owned, 320 miles; leases Randallsville to Utica, 32 miles, and Clinton to Rome, 12 miles. By contract has right over West Shore RR. from Cornwall t-0 Weehawken, 53 miles by payment of trackage; total operated, 417 miles. In May, 1886, made an agreement with the D. & H. Canal Co. for operation of the U. C. & Bing. and the Rome & Clin. roads for 30 years on a percentage basis. - This was the New York & Oswego Midland. Main line was opened July, 1871. Default was ma.de in 1873. The main line was sold in foreClosure Nov. 14, 1879. Present company organized January 22, 1880. Of the $4,000,000 of 6 per cent first mortgage bonds $2,000,000 were ll8ed to retire the prer. stock. An important agreement wito NewY01k Central & Hudson was made in 1888. (V. 46, p. 75.) Guarantees $75,· 000 Wharton Valley RR. bonds. Dividend of 12 p er cent on pref. stock was paid in 1883; none since. From Oct.1.1888, to Nov. 30, 1888 (2 mos.), gross earns.were $280,386, against $277,229 in 1886-87; net, $26,584 against $48,757. In the year ending Sept. 30, 1888, gross earnings were $1,683,697; net, $255,479; surplus over interest, etc., $50,263. In 1886-87 gross, $1,480,564; net, $245,60~; surplus over interest, &c., $72,816. See annual report for 1887-88 in V. 48, p. 99. -(V. 46, p. 75, 255, 610, 678; V. 47, p. 188, 664; V. 48, p. 99.) New York Pennsylvania & Ohlo.-Owns from Salamanca, 11. Y., to Dayton, 0., 388 miles; branches-to Oil City, 34 miles; other branches, 12 miles ; total owned, 434 miles. Leased linesCleve.& Mahon. Val. RR. and branches, 125 miles; small brs.nches, 18 m.; total operated, 577 miles. Under construction: New Castle & Shenango Valley, New Castle to Clev. & Mahon. Val. RR. and bran.ohes, 22 m1JeP. Formerly Atlantic & Great Western Railwav Sold July 1, 1871, and leased to Erie on May 1, 1874, but lease not carried out. Again sold Jan. 6, 1880, and reorganized by a London committee of stock and bond .holders, (See V. 30, p. 143), and again leased to Erie. Five trustees exercise the voting power of the new stock until the third mort. bondholders receive 7 per cent interest in cash during three years. The first mortgage bonds bear 7 per cent, whatever portion of this that may not be earned to be payable in deferred warrants, to be capitalized tn bonds of the same class; payment of interest to become absolute not later than July 1, 1895, and until July 1, 1695, the right to foreclose the mortgage is suspended. On the second and third mortgages there 1s no right to sue the company or to foreclose. stock is--pref. $10,000,<1!50 th d f d s t 30• ' 88 ' 000; com., $34•999 •350 ; par-. ; · e e erre warrants ep · were $9,439,760. Bonds above are also secured on leasehold estates, A lease to N. Y. Lake Erie & Western from May l, 1883, was moru:fted from April 1, 1887. The rental is 32 per cent of all gross earnings up to $6,000,000, and 1noreased by 1-10 of 1 per cent on each $100, 100 of gross earnings above $6,000,000 until the gross earnings a.re $7,250,000, and then 331!3 per eent of all earnings. But if 32 per cent ot. the gross earnings should ever be less than a speoifled minimum sum https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis v. v. m --·· .... 1,090,000 150,000 4,742,950 1,500,000 4,500,000 1,200,000 900,000 820,000 322.000 694;000 4,464,000 1.023,000 ..6.g. 6 g. Oct. 1, 1921 1920 &1921 of $1,757,055 to be paid yearly, then the deficit is to be made up without interest out of the excess in any subsequent year. Out of the rental paid, the N. Y. P. & O. has to p ay it s interest and rentals, and $3:H,746 car tJrUsts . Bee V. 45, p. 211, 614. The New Ca s tie & Shenango V a lley is leased f or 99 y ears at 32 percent ~ross earnings, minimum rental, interest on Londs being guaranteed by N. Y. L. E. & W. Ea.rnings for year ending Sept. 30, 1888, $6,377,967; net, $1,745,963; rental to N. Y. P. & 0., $2,097,367; surplus of N. Y. P . & O. after all payments, $63,378. In 1886-87, ~ross, $6,365,127; net, $2,155.126: rental N. Y. to P. & 0., $2,036,841; surplus of N. Y. P . & 0. after all payments, $5,370. (V. 46, p. 201,320,480; V. 47, p, 22.) New York Philadelphia & NorColk.-Opera.tes from Delmar, Del., to Cape Charles, Va., 95 miles, and King's Creek, Md., to Crisfield, 17 miles; total, 112 mile11. 8uccec1sor of the Peninsula RR. Co. of Va. Has traffio contra.ct till Jan., 1895, with Penn. RR., which Co. sets aside 10 per cent gross earnings to purchase first mort. coupons. Bee v. 4.7, p. 807. Capital stock, $1,714,375; par, $100. In nine months ending Sept. 30, 1~88, J?ross earnings were $482,533, against $389,607 in 1887; net, $135,367, against $73,445. Gross earninl!s in 1887, $ 503,166; net, $93,007. A. J, Cassatt, Pres., Philadelphia. (V. 46, p. 228; v. 47, p. 170, 802.) New York Providence & Boston.-Owns from Providence. R I., to Groton, Conn., 62 miles; branches, 18 miles; leases-Pawtuxe-t branch road, 6 miles; total operated, 86 miles . In 1888 proposed to lease Providence & Worcester Railroad for 99 years at 10 per cent per annum on the stock. Owns a. u:aiorltiy interest in the Providenct, & Stonington Steamship Line, which has a capital of $1,500,000. In Feb , 1888, $1,000,000 new stock was issued t > provide means for bridging the 'fhames. Dividends since 1876 have been: In 1877 and 187~, 10 per cent; from 1879 t'> 1835, inclu'!ive, 8; in 1886, 812; in 1887, 1888 and eince, at the rate of 10 per cent per annum. In year ending Sept, 30, 1888. gross earnings were $1,303,169; net, $298,818 adding BS. dividends ($d4,334), $383,152; surplus over fixed charge!!, $300,339. Report for 1887-88 was in CHRONICLE, V. 47, p. 743. -(v. 45, p. 819,920; v. 46, p. 134,573; v. 47, p. '143.) New York & Rockaway Beach.-OwnsfromGlendalo Junctioa to Rockaway Beach, 1034 miles; leases trackai?e-Glendale Junction to Long Island City, 6¼ miles; Fresh Pond to Bushwiok, 212 miles; Woodhaven to Brooklyn, 612 miles; total operated, 2614 miles. The stock is $1,000,000; par !t\100. Controlled by L . I. RR. Co., whose endorsement is printed on first roort11age bonds. Foreclosure sale of the N. Y. Woodhaven & Rockaway road was made in June, 1887, and this company 01 ganized. Iu year ending Sept. 30, 1888, .i?ross earnings were $188, 2 85; net inr-ome, $!.4,962; surplus over interest and discounts, $3,758. -(V. 46, p. 572, 856; V. 47, p. 383). New York. Susquehanna & "Western.-(See Map.)-Jersey City to Gravel Place, P enn., 101 miles; Two Bridges, N. J., to Unionville, N.Y., 21 miles; othnbranohes, 12 mile..~; leased-Unionville, N. Y., to Middletown, N. Y., 14m.; Penn. RR. trackage, 3m.; small branches, 6m.; total, 157 miles. The New Jersey Midland was sold in foreclosure Feb. 21, 1880, and the Midland ot New Jersey was organized. The New York Susquehanna & Western was a. consolidation in June, 1881, of the Midland of New Jersey and other railroads. Stock common is $13,000,000; preferrGd (cumulative 6 per cent), $8.000,000; par, $l00. The New Jersey Mid land junior securities were exchangeable into stock of this company on certain terms, and the exchanges up to Jan. 1, 1888, left $1,442,940 of tho old stock, income bonds and scrip not yet exchanged. Annual report for 1887 was in V. 46, p. 198, 256. Income acooun"I has been as follows: 188f. 1887. 1885. 1884. $ $ $ Receipts$ Total gross earnings ..••• 1,034,208 1,092,355 1,129,4U 1,395,185 597,59 2 457,286 416,521 474,835 Net earnings .••......•... 44,023 27,15 9 Othtr income .••...••...•. . --·. -. -· --· --·· - Total net income .••.. 416,521 474,835 501,309 624,751 Int t · Re:r:.iss_·_-_-_-_-_-_-_-_-_-_-_-::::::: car tiust obligations .••. 411 000 25:000 83, 192 *322.095 25,t 00 92,352 *327,765 29,500 155,919 443,661 26,495 Disbursements- Total disbursements. 519,192 439,44'7 513,184470,166 Balance ..•..••...••..•.... df.102,671 sur. 35,388 df. ll,875sur.154,595 ~alfinterest only paid on N. Y. Sus & W. firsts and aebentures. - (V. 46, p. 134, I 98, 256; V. 48, p. 38.) New York Texas &; ltlexlcan.- Owns from Rosenberg toVictoria, 92 miles. Stock, $ 643 , 040 _ There are also $ 75 ,500 6& outstandin~. In September, 1885, sold to So. Devel. Co. and is oper ated by the So. Paci.tic Co., which guarantees the 4. per cent bonds From Jan. 1 to Nov. 30, in 1888 (11 months), gross earnings were $130, 688 , a~ainst $l 54,990 in 1887 ; deficit, $ 3 3, 3 84, against surplus ot $18,84 . In 1887 gross. $170,526; net $22,107. Niagara Bridge & Canandalgua.-Owns from Canandaigua. to Suspension Bridge, N. Y., and branch, 100 miles. The road is leased in perpetuity to tlie New York Central & Hudson at $60,000 per annum with right of lessee to commute by payment of a gross sum of $1,000,000 N Le1ligh r Blooming -Grove Gouldsbor '\I ~2o ~ Pim:ak, ~ Hunte\angeo oCanadc ls ~~:..--'"'Henryviire Brooheadsvlile • ·o NEW YOR K, SUSQUEHANNA & WESTERN RAILROAD AND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis E INVESTORS' SUPPLEMENT. (VOL. XLVllL Subscriber• will conf'er a great f'avor by giving lmmedtate notice of' any error discovered la the•e Table■• &ncu-Prln,cl· INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size,or Due. Amount Rate per When Where P~ble, and bi)' pal,When of Par Out For explanation of column headings, &c., see notes of Stocks-Last standing Cent. Payable Road. Bonds Value. om. on first page of tables. Dividend. orthern,. N. H.--Stock ..•..••..••..••. . ••..••••••.... Northern Oentral-St ock ..•...•... - -·· --- -$100 - -· ---· 83 36-1 .... lat mortgage, State (Maryland) loan ....•••...•••. 138 Zd m ort~age .••...•...•......••....•••.••......•. o* 138 is65 Consolidated mortgage, gold .....•..••.••.....••• c 138 1868 Consolidated mortyag~, gold ..•....••...•..••... . r 138 1868 Oona. fen. M.,g., s . ., d wn at 100, £or$ A & B .. c 138 187"1-5 o do gold, $ C &J;> ..•...•...••. o . 1876-7 do tio gold, E .••.. . .••....••..... c 1885 2d gen. M., "A" (s. f'd $30,000 yearly) .••..••... o• i'is 1876 do do "B." . . ...... . ................ c* 138 1876 UnionRR.,lst(ass'd) $117,000 end.byBalt.City.o~ 9 '67-'70 · do 2d mortgage <assumed) 5;: nr .£ •••••• o 9 1873 21 1887 BortherntfcNewJersey-3 .1 M. (for$i00,0001 ....•. c Northt.rn am,jic--Pref. stook(8 p. c., not own't1ve) . 3,317 .... Common stock ..•..••...•...••...•....•..••..••..... 3,317 1st M. and ld gr., Missouri Div., dr'n. at par.. o*&r 205 is19 1st M and Id gr., P. d'Or. Div., dr'n at par .. o *&r 225 1879 Gen lstM ld gr,g.,$25,000p.m.,dr.atllO.. c*&r 2,13 6 1881 All 1883 Gen. 2d M., g, L gr.,B.f.,dr. at 110 aft. '88 ... . . 0*&1· Gen. 3d M. s . f .. notdrn .. ~.(for $12,000,000).o•&r All 1887 Dividend certificates, ext'd in 'c-8, red. after '92 .. 1888 Jas. Riv. Va.I. RR. 1st M., gold, guar., a. :t •••••• c• .64 1886 30 B f< 6 Coeur d'Alene, lat mortgage, fold ...•••.•••.••. c• Spokane & Palouse, 1st M., god, gna r., s. f ...•. o• 104 1886 Dul.nth & Manitoba, 1st M., gold, guar., a. f . ... c• 110 188 6 do do Dakota ex., lstl\1., g., guar., s.f. 96 1887 19 1887 Helena & Red Mountain, 1st M., d., guar., s. f .. c* 21 1 "'87 No. Pao. La Moure & Mo. R., 1st I.,g.,f.uar.,s.f.c* No. Pac. & Montana, 1st M., g. , gu . s ........ o*&r 125 188 8 C1en1ral Wa:,, hlngton R 8 .. 1st M ., g., gu., s. fd .... 1888 Northern Pae.Ter. Uo.-lRt M .•sr. dru aft.'92 at 110. o* 1883 Nrtrthwest tf Florida-1st M., $12,000 per mile ... c~ '45 18tl8 --· f ·-· 50 500&c. 1,000 1,000 1,000 ],000 1,000 1,000 1,000 500 &o. 1,000 100 &o. 100 100 500 &c. 1,01)0 1,000&c 1,000&o 1,000 500 &o. 1,000 500 1,000 1,000 1,000 1,000 1,000 1.000&o 1:000 1,000 ----- M.& N. Bost.,Cono'd or Leban'n $2,997,300 3 J. & J . Balt. & Phil. 2 :i 3 8. 4 st. 7,150,000 5 1,500,000 Annapolis. 6 Q.-J. A. & 0 , Baltimore & Pb.iladel. 1 ,126,000 6 6 g. J. & J. Baltimore, Treas. Offl.oe. 2,599,000 205,000 6 g. A.. & o. do 2 ,20,3,000 6 g. J. & J. London & Baltimore. 2,000,000 6 g . J. & J. Baltimore, Treas. Office. 4lgg. A. &O. 1,220,000 do 2,758,000 J. & J do 5 1,000,000 5 J. & J. do 900,000 J. & J. N.Y., F. L. & Tr. & Balt. 6 600,000 g. l',f, & N. N.Y., London & Balt're. 505,000 J. & J. J. City, Hudson Co. B'k.. 3 7,634,169 111 10 cert .. - . 49,oou.ooo .. 6. M:&·N. N. Y., Mills Building. 2,l::J0,000 2,579,000 M.& 8. 6 do do 46,9-13,000 6g. J. & J. do do 20,000,000 6 g. A. &O. do do 10,791,000 6 g. J. & D. do do l,~09 .000 J. & J. do 6 do 963,000 6 g. J. & J. do do 3HO,OOO 6 g. ~f. & 8. N.Y., Lancl&Seo Inv.Co. 1,557,000 6 M.&N. N. Y., Mills Building. 1,6fi0,000 6 g. J. & J. do do 1,451 ,000 6 g. J. &D. do do 6 g, M.& 8. 400,000 do do 3V3,ono, 5 g. J. & D. do do 3,131,000 6 g. M.& S. do d.o 20,000 p.m. 6 g. M.& S. do do 3,000,000 g. J. & J. N.Y., Winslow, L. & Co. (l) A . &0. ...... . .... g --· g ... ... . Nov. 1, 1888 Jan. 15, 1889 Irreaeema.ble. April 1, 1900July 1, 1900 July 1, 1900 July 1, 1904. July 1, 1904. April 1, 1925 .Tan. 1, 1926 Jan. 1, 1926 Jan. 1, 1895 May 1, 1900 July 1, 1917 Jan. 15, 1883 May 1, 1919 Sept. 1, 1919 Jan. 1, 1921 Deo.1, 1933 Dec. 1, 1937 Jan. 1,1907 Jan. 1, 1936 Sept. 1, 1916 May 1, 1936 July 1, 1938 June 1, 1937 March 1, 1937 Jnne 1, 1937 Sept. 1, 1938 Sept . 1, 1938 Jan. 1, 1933 1938 Norfolk. Southern.-Formerly the Eliza.beth City & Norfolk. Name 1291; divdend paid (9 per cent), $81,000. (V, 45, p. 401, 768; V, 4.7, p changed Feb. 1, 1883. Owns from Norfolk, Va., to Edenton, N. C., 75 '708. miles. Capital stoc.k, $1,000,000; par, $100. The holders of 1st mort. and debemu're bonds funded their interest for five years, Sept. and Oct., N c:>i:-thern _(Callf'o~la).-Owns West Oakland to Ma~ez,31 miles; 1884, to March and April, 1889, respectively, until wilioll d ates tl.J.e B~m01a to S•usun, 17 mlles; Woodland to Tehama, 101 rru1 61' ; total 148 funded interest bonds bear 312 ptl' cenli interest, payable y early; after miles. Th'\ ~a n Pablo &Tulare RR.-Martinez to Tracy City, 47 miles, that 6 per cent semi-annually Gross earnings in 1887 iu clud in cr lea sed bytlua road, 1s opt\ra.te-i by So. Pa·. Leased to ttu; Cent. Pao. till steamboats, $28 <',167; net, $77,233: surplus over all pay~ents, $13~ J an. 1 , 1907,_a t arenta.lof $40,000 per month and ,mar. of Pi:inolpal 558. Groes in 1886 $210 200· net, $66 002. ~nd interest of bonds !or Northern; aJ?.d San P~blo & T. leased till 1908 ' ' ' ' for $ 13,800 per month and gnar. of prmo. and mt. of bonds. In Nov., Nort'olk. & Western.-( See ll:fap.)-Owns from Norfolk, Va-., to Pe- 1886, new lease to Southern Pa.citlc Co. was made. Moderate dividends tersburg, Va., 81 miles; Peterab1m.r. V'l., to Lynchburg, Vq,, l'l3 mile~, h ave b t en paid. The Northern stock is $6,190,500, and San P. &'I. Lynchburg, Va.., to Bristol, 204 miles; branohes-Petersb'gto CitvPoint, stock $1,861.000; par both tlOO. Gross earnings in 1887, $1,999,565; Va., 10 miles; Junction to Saltville, Va.• 10 ruileR; New River Di.vision, n et , $1,113,376. W. HuntingtonJ President, San Francisco. (V. 46, 75 miles; br anches to mines, 22 miles; Cripple Creek ext enAion, 29 p. 650.) miles; total operated Dec. 31, 1887, 5 :54 miles; under construction, N orthern.1_ N e-w Ha.JDpshlre.-Owns from Concord, N. H., to Weet <.,'linch Valley Ex tension, 115 miles; branches to m ine, 11 miJes. The Atlantic Misaissippi & Ohio RR. Co. was a consolida tion of Nor- Lebanon, N. H., 70 miles; branch, Franklin, N. H .. to Bristol, N. H., 13 miles; total, 83 miles. Operated by Boston & l\faine under an agreefolk & Peters burg, South Side and the Virginia & T ennessee roads; i t was toreolosed Feb. 10, 1881, and was reorganized as the ~orfolk & Western. m ent terminable at one month's notice. In year ending March 31, 1888, net receipts from rentlll, etc., $188i013 ; surplus over dividends (6 per Company also pays 6 per cent on $51,100 pref. stock (par $100) of cent), $8,175. Dividend,s since 187u have betin: From 1877 to 1879, 5 Va. & Tenn. RR. per cent; from 1880 to 1884 inclu1-ive, 6; in 1885. l 3; from 1886 ~ · Abstra ct of Chnoh Valley mortua ge (FiJelity Ins. Trust & Safe D. Co. 188 8 inoluaive, 6. (V. 45, p. 26,612, 673; V. 46,p. 827.) OJ Phila., Trustee.) was in CHRONICLE in v. 4 &, p. 541. The .li qnip ment mortga){e of 18 ::s8 (truatee Girard Ltre Ins. Co. of Northern Central.-Owns from Baltimore, Md., to Sunbury, Pa. Phil.) is tor $5,000.000, aud covers all eq11..tpment and r olltng stock a.nd 139 miles; branch-Hollins to Green Spring Juno., 9 miles; leases-Shain all oa r truet o bligatio n!! purchased with t he proce e.d11 of bonds isSU(ld. oklll \.v.t.lley & Pottsville RR., 28 miles; Elmira. & Williamsport Rall Preferred st oek Daid 4 1>er cent in cash in 1882, 312 in scrip in 1884 road, 7 F-: nules; operated at, cost-Elmira. & Lake 0 1 tario RR., 103 and 112 in cash in 1888. miles; track of New York Lake Erie & Western used, 7 mile~; The r an ge of stock prices since 1882 have been as follows: In 1 883, total o perated, 364 miles. T-his was a oonsolid1ttlon or several roads In 101.1.>18; in 1884, 10@12 J.g: in 1885, 8@1:i 7s; in le86, 81v27::\i; in 181:l7, Dec., 1854. The terms of the several leases wil - be found under the 131.l.>233s; in 18Sw, 151s1v ~3¼; in 1889 to J an. 18, :molnsive. 161.1.> t 6½. names of t he leased roads. In February, 1882, purchased at par tbe Preferred-In 1883, 32@49~; in 1884, 17@42; in 1885, 14@34.½; lo stock of Union RR. in B a ltimore, $600,000; in 1887 this stock 1886, 2 5@593s : ln 1887, 34.12@55 7s; in 188!:!, 411!1@5d 5s; in 1889, to increa:<1ed to $1,200,000, and a dividend of ten p er oent in Northetn Jan. 18 , inclusive, 49~@527s, Centr-11 stock was paid te stockholders July I 5, 18-!i7. The consolidated From Jan. 1 to Nov. 30 in 1 Q88 (11 mont hs), gross earninp;s were gen erai mortgage (gold) of 1874 was for $10,000,000 to retire all prior $4,489,8'i2, agst. $3,848,3t6 in 1887; n e.t, $1,750,956, a gsli. $ 1,5 08.955. bonds. Of the above bond@ $2,366,000 are sterling or dollar, inteteS1; The annual report for 1887 was published in the CHRONICLE, V. 46, payable in London or Baltimore, and the bu.lance are dollar bonds. pp. 509, 512. The earnings and expenses for four years were: interest in .Ba ltimore. The Pennsylvania RR. owns $3,322,SIJO of 1884. 1885. 1886. 1887. above stock. Earnings$ $ $ $ 'l'he 2d general mortgage provides that $30,000 yearly shall be apPassenger........... 521,192 4.58,445 4 86,231 685,257 plied to the "puroba se and redemption" of serie--1 •• A" bonds. Freight . ..... ,....... 2,025,087 2,138,120 2,590,827 3,405,'l20 D ividends since 1880 have been: In 1881, 519; in 1882, 6; from 1883 llail,exprese,&c.... 164,875 174,5: 5 174,998 164,317 to 1886 inclusive, 8; in 1887, 8 and 10 stock; in 18oH, 7; in 1889, -Ce date, 5. · - - ·2,711,154 Total gross earn's. 2,771,120 3,252,056 4,254,794 .From Jan. 1 to Nov. 30 in 1888 (11 months) gross earnings wete 1,960,910 Overatiug expenses. 1,516.858 1,649,291 2,483,;80 $5,70j,S57, agst $5,722,641 in 1887; net, $1,819,95:i, agst. $1.,88:l,673, The ti.seal year ends December 31, and the report .to1 1887 was in Net earnings . ••...•. 1,194,296 1,121,829 1,291.146 1,771,014 the CHRONICLE, V. 4.6~ p. 220. 55·9 60·0 60·29 P .o. of op. eL to earn 58·38 INCOME ACCOUNT, INCOME -ACCOUNT, 1886. 1887. 1884. 1885. 1884. 188P. 1886. 1887. $ Receipts$ $ $ $ $ $ $ 5,474,617 6,212,928 1,194,296 1,121,829 1,291,146 1,771,014 Gross ea.nungs. •• • . • • • 5,521,876 5,490,923 Set income .....•••• l,931,9~9 2,073,4~4. Net earnings.......... 2,053,482 2,235,309 Disbursements277,348 263,829 254,070 251,1""'5 953,436 1,139,991 1,184,547 1,237,134 Other receipts......... Inter. on bonds,&o .. 5 5,699 9,239 ~cellaneou.s ..••..• 7,8 '1 9 Total income .••••.•• 2,317,311 2,489,379 2,209,297 2,32A.609 Disbursements$ $ Total disbursem'ts. 953,436 1 ,195,690 1,193,786 1,244,983 4.46,997 4.60,819 461,761 J2.203 Balance for year . .•. sur.240,860 def. 73,861 sur. 131.663 sur. 635,528 Renta.ls l's'd lines,&o*. 951,l,07 903,041 931,272 935,014 lnterest on debt t ..•••. -(V. 4.6, p. Ia4, 199, :153, 496, 509, 512, 574,819; V. 47, p. 81; 140, 545,g 6 520,000 520,000 520,000 Diviaends .....••...••.• 3.27, 532, 745.) " · 8 8 Rate of dividend .••••• 8 8 North Oaroltna.-Owns from Goldsboro to Charlotte, N, C., 223 m. 44,775 53,690 46,511 '.the property was leased Sept. 11, 1871, to tne Richmond & Danville Miscellaneous •• ~ •.•••• Railroad tor 30 years at a rental of $260,000 per year. Dividends ot'6 Tot. diaburseI_D.ents... 1,963,286 1,{j47,165 1,914,813 1,957,872 r cent are paid on the stock, of which the State of North Carolina holds Ba.lance, aurplll.8..... 354,025 542,214. 294,4.8, 36.6,7$7 ,000,000, and the dividends thu.s received by the State are applied to er bonds issued to the North Carolina RR. Rental, &o., in 1887-8tl , " lnclu<1es rent of roads and interest on equip. t Inolude.s car trusts. $276,870; expenses, $24,960; balance, $251,910. Rent al, etc., in •~6-7, -(V. 4.6, p. 226, 739.) $274,849; expenses, $24,660; balance, $250,189; div's paid, $238,698. Northern of' Ne,v Jer8ey.-Owns from Bergen, N. J., to BP¥• North PacUle Ooast.-Owns from San Francisco to Duncans, Cal., 79 miles; branch to San :Rafael, 2 m.Hes ; leased, San Ra.ta.el to San sill, N. Y., 21 miles; leases Spark:ill to Nyack, 5 miles; total <>W· a.t ed, 26 miles. This road was opened October 1, 1859. By contract Quentin, 4 miles; and Duncan's Mills to Ingram, 7 miles; t otal operof April, 1869, it is operated by New York Lake Erle & Westem at 35 P{'r ated, 92 miles. Stock, $2,500,000; par, $100. No late information. 06n t of it.s gross earnings. It is understood the contract is terminable North Pennsylvanla.-Owns trom Philadelphia, Pa., to Bet hl<·· by eit her party on notice. The st-0ck is $1,000,000; par $100. There hem, Pa., 56 miles ; brau chea-.Jenkint 'n to D ela. River, 20 miles ; Lans- are also $23,0UO 2d mortgage bonds due March, 1889. Di'vidends a.re dale to Doylestown, 10 miles; Iron Hill to Shimersvllle, 2 miles ; total p a id as earned on the rent al. R i>ntal r eceived in 1886-87 was $102,666; operated, 88 miles. The Northea st Penn. an d the Stony Creek roa ds a.re dividend paid 4 per cent; in 1887-88, $100,698. (V. 46, p. 255; V. 4{1. operated under contrao In May, 1879, was leased fot• 990 y ea1s t o Phil, p. 803.) fl& Rea.ding at o@7 p. c. on stock till int o 1883, and 8 p er c ent ther eafter. Northern Paclfie.-(See Map.)-LINE OF Ro.AD-June 30, 1888. ~ortheastern (S. C.)-Owns from Charleston. 8. C., to Florenet', owned: Main line-Ashland, Wis., to Portland aud Wailula. Ju.notion, B. C., 102 miles ; leases jointly, Lan e, 8. c., to Sumt er. 8. C.. 3 ~ milN ; Ore~on , 2,140 m; Duluth to Nor. Pao. Juno. (12 inter est), 24 m .; Dulu,th total oper a,t ed, 1 40 m iles. Th.is company has ea.rued the inter est on It~ to Su perlor 3 m. Total owned, 2,167 m. Le-a-ses and controls-St. Paul bondt>, ·wit h a good surp lu s. Fi scal y, ar chan ged; hereaft('r to end June & N. P ., Brainerd t.o St. Paul and branches, 14.7 miles ; St. P. Minn. ' & 30. Of con sol. m ort~ag t $1, 142 ,00v w a s h eld to retire debts of pr101 Man .. St . Paul to Minneapolis and bra.n i,hes 16 miles; C. St . P. M. & 0., llen. Stock, $ 900,000; p ar, $ 30. In the y t>ar ending 81-'pt. 30, 1887, Super ior to W. super ior , 4 miles: Little Falls & Dakota RR., 88 mileJ,J ; gross ea.rniu s-s w ere $5 04 ,253; net, $154,4 39; adrting other receipts, Nor. Pac. Fergm1 & Black Hills RR., 117 miles; Far~o &; Southwestetn surplus OVt"r mter e1,:t was $ 54, 7-12 ; dividend paid (3 per cent) $27-, 000; RR., 87 miles ; San. Coop. & Turtle Mount. RR., 37 miles; Jail1¥-~ 1887-88, gross, $601,077; ~et, $160,729; surplus o-ver interest, $63,. town & N.orthern RR., 103 miles ; Rocky Mount RR. of :Montana v. w..- ----- ---- e https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ro "' A z0 P=l ~ - ~ ~ r/'J. '1 ~ ,✓ 0 w. ~ E-t ~0 ·'V ; t> 0 ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis WB-STEB:N RAILROAD 0 ,YadkJnvllleo AND CONNECTIONS. • INVESTORS' SUPPLEMENT.. 96 sub•crlber• wtll conCer a great :ravor by giving Immediate notice ot: any error dl•covered In the•e Table•. INTEREST OR DIVIDENDS. --------=D:..::E:=8:...:CR=IP=._:_T-=IO..::._N_.- - : - - - - : - - I Miles Date Size, or .Por explanation of column headings, &c., see notes of of Par on first page of tables. Road. Bonds Value. O u BondB--PrJnol- pal,When Due. 1:1~~g Rate per When Where Payable, and by Stocka--Last Cent. Payable Whom. Dividend _ ~ Worcester-Stock. 8 % renta.l,N.Y.& N.E. lat M., principal &int.guar. by N.Y. &N. E .... o 66 lr~ •. i877 <>t~~~d t~:eds~~~:.t~i~~~~.~: ~: Mortgage nonds (redeemable July, 1890) ..••...•. Consolidated mortgage (for $3,500,000) . . . . • . . . . . Income bonds, not cumulative..................... 1··1·9· is7i 1877 1880 1880 1888 NOMMelt. .~~~~~ ctint:it: &w::.:stock .($3;fa5,00() is ·5. i>."cr pred Ind. Bloom. & West., lstmort. pref.........•.. c&r o. I.&. W. lstM. ($500,000are pref. bonds) g .•. o* 2d ~ortgage, gold ...........••••••••....•.••... o• lst&2dM., mt. cert. drawn atlOO.. . ....•••..... ()]do cf Mississippi-Stock ($4,030,000 is pref.)..... 1st general mortgage (for $16,000,000) .......•. c• let consolidated mort. ($3,445,000 ares. f.) .••. o.. Consolidated mortgage, sterling, s. f .. .......•. ck :ld cons. mort..,(cum. sink. fund.), no drawing .. c• @piing. Div. (Sp. & Ill. S.E.) 1st M. ( $3,000,000). c• Equipment Tr., 10 per ct. drawn y6arly at 100.c" (Jhio cf Northwestern-1st mort., $12,000 per mile .. 2d mort., $7,000 per mile, for $1,200,000._ .•..•..• ()11,io River-1st mort., gold ($12.000 per mile .... c* Gen'l M., gold (for $3,000.000), 1st on 39 miles.c• ()hio &uthern-lst mort. ($15,000 p. m.) gold .... c* 2d mort., income, non-cum. ($15,000 p. m.) g ... c()1,,io Valley, Ky.-lst M., gold ($15,000 p.m.),s.f.. o* Old, Oolony-Btock, $15,000,000 ................... c* Bonds (not mortgai,te) ........................... c&r '.Bonds do ($2,000,000 F. & A.,Aug.'97).c&r Bonds do ......•.......•........•.... r Bonds for Framingham & Lowell bonds ........ c 118 .... 353 202 342 342 342 623 393 393 393 222 io:i 103 169 208 132 i879 1888 1888 1888 iss3 1868 1868 1871 1874 1887 1886 1886 1886 1887 1881 1881 1886 132 98 564 .••. is74 .••. '75-6·7 .... 1882 ..•. 1884 $100 $2,604,400 1,000 400,000 100 3,077,000 1,000 380,000 1,000 600,000 500 &c. 2,529,650 100 &c. 999,750 350,000 ·ioo 13,325,000 lOO&c. 1,000,000 500 &c. 7,000,000 500 &c. 2,000,000 50 '&c. 854,165 100 24,093,570 1,000 3,216,000 1,000 6,501,000 £200 112,000 1,000 3,649,000 1,000 2,009,000 1,000 455,000 1,000 950,000 1,000 517,000 1,000 2,000,000 1,000 2,280,000 1,000 2,100,000 1,000 2,100,000 1,000 1,470.000 100 11,766,200 1,000 1,692,000 1,000 3,600,000 1,000 200.000 1,000 498,000 $2 miles· Helena & Jefferson Co. RR., 20 miles; James Rtver Valley RR., Jamestown, Dak., to Oakes (junc. Chic. & N. W.), 64 miles; Spokane & Palouse RR., Marshall, Wash. Ter., to Belmont, 44 miles; Helena ~ Bed Mountain RR. Helena to Rimini, Mon., 16 miles; Dul~th & Mamt.oba RR.. Winnipeg June., Minn., to East Gd. Fork, 110 miles; Duluth & Mamtoba, Dakota extension, Grand Forks to near Pembina, Dak., 97 m.; Nor. Pac. & Montana (Clough Juno. to Marysville, 12 m.; Jeff. .Juno. to Calvin, 30 m.; Missoula to Grantsdale, 51 m.; Dr~mmond to Phillipsburg, 26 m.). 119 m.; the Northern Pacific . La Moure & Missouri River RR., La Moure to Edgeley, Dak .• 21 miles; t3outheastern Dak. RR., 9 miles; Cokedale spur, 3 miles; Spokane Falls ,& Idaho, 14 miles; Nor. Pao. & Cas. RR., 10 miles; Nor. Pac. & Puget t3ound RR., 7 miles; totalleasect and controlled, 1,171 miles. Grand total owned, .leased and controlled, 3,337 miles, of which 20 miles wore mot in operation June 30, 1888. The Creur d'Alene RR., Thomson's Falls, .Mon., to Crear d'Alene River. 30 miles, was acquired in Sept., 1888. The Central Washin~on RR. will run from Cheney, Spokane Co., Washington Ter., on Nor. Pac., northwesterly to Davenport, Lincoln <Jo., then westerly. ORGANIZATION.-This company was chartered by act of Congress July .!t 1864, to bmld from Lake Superior to Puget Sound and Portland, Or. 1·ne land grant was 20 sections per mil~ in States and 40 sections _in Terntories. The road was opened 450 miles west from Duluth-to Bis• marok, on the Missouri River-in 1873. The company defaulted Jan., ~874, and the road was foreclosed August 12, 1875, and reorganized by the bondholders' committee Sept. 29, 1875. Sew J)referred stock was tssued at the rate of $1,400 for each $1,000 bond and overdue interest. In Sept., '88, purchased the prop. of the Creur d'Alene RR. & Nav. Co. STOCKS AND BoNDs.-The preferred stock has a preference ror 8 per cent 1n ea.ch year if earned, but is not cumulative. The common stock then ¢akes 8 per cent, and after that both share alike. 1:'he pref. stock claim 0;11 -net income is subject to expenditures for neweqwppient.. P!ef. stock 1s irooelved 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. Of the stock $6,233,000 pref. and $14,075,100 of oom . .in Oct., 1887,) was held bythe "Ore. & Trans-Con. Co." (See V. 45, p. 539.) The dividend certificates fell due Jan., 1888, but part were extended -till 1907, and these are exchangeable into third mortgage bonds. Of the outstanding debt June 30, 1888, $823.700 was held by the ,trustee of the 1:1inking fund, $656,700 of thls being general first i!Ilortgage bond!'. Dividend of 11 ·1 p, ct. was paid on pref, stock in le83; none since. Prices of preferred stock since '79 have been: In ·so, 393a@67lg: in '81, 64113@88113; in '82, 66&i,Wl003a; in '83, 49&i,@905g; in '84, 37¼@575g; in '85, 36lg@653s; in '86, 53¼'@66¼?; in '87, 413a'@63lg; in '88, 42~@ -t34: in '89 to Jan. 18, 1ncl., 59@61. Common stock: In '80, 20@36; 'in '81, 32¾@51; in '82. 28:\i@543a; in '83, 231a'@531s; in 84. 14·dl27; in '85, 15@3114; in '86, 22@313a; in '87, 201}3-!15s; in '88, 19 7a@29~; in ·•99 to Jan. 18, incl, 251t>263a. LANDs.-The land grant of the company was 12,800 acres per mile in States and 25,600 acres per mile in territories, and the lands earned by -eonstruction to June 30, 1888, were estimated to be about 46,824,960 acres, of which about 40,293,225 remained unsold. The lands east of Bismarck (Minn. and Dak. Divs.) are pledged to tb..e pre~erred stock, and that stock is received in payment therefor. The general ·mortgage bonds cover an.the other lands, the divisi'onal mortgagea having prior liens on their respective divisions. For the fiscal year 1887•8 land sales were 392,256 acres for $1,380,867. Total sales, including town lots, etc, were $1,591,876; net receipts Jfor the year, $936,443. From July 1, 1888, to Nov. 30, 1888 (5 months), gross earnings were $),139,418, agst. $7,225,392 in 1887; net, $3,839,619, agst. $3,658,589. Fiscal year ends June 30. Reportfor1887•88was in V. 47, p. 351, 3~4. 1884-85. 1885-86. 1886-87. 1887·88. Hlleage June 30. .••• 2,668 2,808 3,102 3,337 Earnings$ $ $ $ ~senger . .•. . ••. .. 3,07j,882 2,897,218 3,269,703 4,577,898 W'reight .••.. .. ..••... 7,446,266 8,189,614 8,730,547 10,426,244 Mail, express, &o... 712,001 643,695 789,197 842,186 Total............ l()perating expenses Net earnings ..•..... .Per ct. exp. to earn's Beceipts- N et earnings .••.•••• !From investm'ts, &c. Total .••.•••..••. Disbursements- -Interest on bonds .•. Rentals ......••..•... <Guarantees ..••.•••. .Sinking funds ...•••• Miscellaneous ..•... Total ···••u••···· Ea.lance, surplus .••• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J. & J. Boston, 2d National Bk. Jan. 5, 1889 M. & S. Boston, N. E. Trust Co. March 1, 1897 J. & J. Boston, Office. July 10, 1876 M. & S. do Mar., 1890 J. & J. do July, 1897 A.. & 0. do April 1, 1920 A.. & O. do April, 1920 4 J. & J. do April, 1920 •••• Jan··: ,··i oo 7 J. & J. N.Y., Corbin B'nk'g Co. 1 9 5 g. Q.-J. Overdue exc'pt on pref. April 1, 1938 5 ~- Q.-J. Jan., '88, coup. overdue April l, 1988 5 A. & O. do do April 1, 1938 4 6 2 8 6 6 6 ··ir 7 ·&·:o. J. N. Y., Union Trust Co. J. & J. do do London. N. Y. Union Trust Co. do do N.Y.Kidder,Pea.b'y& Co In default. None paid. N. Y. Central Trust Co. do do N.Y., CorbinBank'gCo. 6 g. J. & J. A.. & O. 7 M. & N. 7 A. & 0. 6 J. & J. 6 5 A. & 0. 5 g. J. & D. 5 g. A.. & 0. 6 g. J. & D. 6 g. J. &D. 5 g. J. & J. 3¼ J. & J. M.& S. 7 6 Various 41g 41g J. &D. A. & O. June··i;1932 Jan. 1, 1898 Jan. 1, 1898 April, 1911 Nov. 1, 1905 Oct. 1, 1897 July 1, 1936 April 1, 1926 June 1, 1936 April 1, 1937 June 1, 1921 June 1, 1921 N. Y., Central Tr. Co. July 1, "1926 Jan. 1, 1889 Boston, Office. March 1, 1894 do do lti9t•6·7 do Dec. 1, 1897 do April 1, 1904 -(V. 46, p. 38. 134,146; 171,191, 574,593, 739, 819; V. 47, p. 21 22, 49,122,140,161,227,287,327,337,344,351,354,473,532, 593 745,776; V.48, p. 37, 70.) Northern Pacific Te:nnlnal Co.-This company owns terminal facilities on the Willamette River, Ore~on, at Portland, East Portland and Albina. Thev are leased for :fifty years, jointly and: severally, to the Northern Pacific RR., the Oregon Railway & Navigation Co. and the Oregon & California RR., with a guaranteed rental sufficient to pay interest, sinkin~ fund and taxes. The sin.king fund begins in 1893 and is to be sufficient to retire the bonds by maturity, bonds being drawn at 110 and interest. The stock of $3,000,000 is owned by said three companies (40 per cent by Ore. Railway & Navigation Co., 40 per cent by Northern Pacific and 20 per cent by Oregon & Califorrua RR.1, and held by Central Trust Co. of .New York, to be delivered after payments to the sinking fund which is to cancel the bonds . Northwest & Florlda.-Owns from Montgomery, Ala., to Luzerne, 50 miles. The Montg. & Fla. railroad was sold July 12; 1888, and this company formed ; there are also $306,000 4 per cent income bouds at $6,000 a mile. Stock, $612,000. A contract of sale has been made of this property to the Ala. Midland RR., first payment and possession to take place in Dec. 1889. It is supposed to be in the Sav. Fla. & Weetern interest.-(V. 47, p. 50, 10g, 285, 532.J Norwich & Worcester.-Owns from Norwich, Conn., to Wor cester, Mass., 59 n...iles ; branch: Norwich to Allyn's Point, 7 miles total, 66 miles. Leased to N. Y. & New England RR. for 100 years from Feb. 1, 1869. In February, 1885, the rental was reduced to 8 per cent. In the fiscal year ending Sept. 30, 1886, the gross _recetpt.s were $748,659; net, $274,377; payments for rentals, $40,475; mterest, $24,157; dividends cs p. c.), $207,824; surplus. $21,921. In 1886-7 gross receipts, $781,979; net., $293,108; payments for rentals, $40,220; interest, $27,165; surplus over 8 p. c. dividends, $17,900. Ogdensburg & Lake Clhainplain.-Owns from Rouse's Poinalt, N. Y., to Ogdensburg, N. Y., 118 lniles. On June 1, 1886, aperpetu lease of this road was made to the Central Vermont RR. Co., the lessee to pay interest on the bonds. In year ending March 31, 1888, gross earnings were $727,542; net $235,412; surp. over int. charge, $15,549. In 1886-7, gross earnings $683,2l;j; net, $229,200; deficit under charges, $27,363. 1V. 45, p. 272 564. 887; v. 4.6, p. 255,678; v. 47, p. 188, 664.) Ohio Indiana & Western.-Owns from Indianapolis, Ind., to Pekin, Ill., 202 miles, and Indianapolis to Springtl.eld, Ohio, 142 miles Leases, Pekin to Peoria, 9 Illlles. Total operated, 353 miles. The former Indianapolis Bloomington & Western Company defaulted Oct. 1, 1874, and the road was sold in foreclosure Oct. 30, 1878. and reorganized. Iu July, 1886, a receiver was appointed, and on March 28, 1887, the road was again sold and reorganized as at present. Payment of the Jan., 1889, coupons on the o. I & w. bonds (except prererred bonds) was indefinitely deferred. (See V. 47, p. 803.) or the 1st mort. bonds for $8,500,000, $500,000 are preferred and $1,000,000 are rese1ved to retire the I. B. & W. bonds at maturity and $500,000 for future improveIPents. Under both , , ortgages are issued "accrued interest certificates" for overdue coupons of Incl. B. & W., having a lien next to the bonds, and with the provision that all surplus earnings in ea.ch year over rnterest, ete., shall go to retire them, drawn by lot. Trustee of both 1st and 2d mortgages is the Central Trust Co. (See mortgage abstracts, CHRONICLE, V. 47. p. 201.) Pref. stock is not cumulative. ·· ,. For year 1887 gross earnings were $2,616,223, against $2,54..c.,809 in 1886, on 532 m. each year. For the 5 mos. ending .June 30, '88, gross earn's were $583,659; net, $102,501.-(V. 45, p. 369,401,672; V. 46,102, 171, 191, 254. 320,480,739; v. 47, p. 142, 147,188,201, 383, 594, 803.) Ohio & l'filsslsslppl.-This. company o ~ a dir~ct_ line from Cil.:cinnati, Ohio, to East St, Loms, Ill .. 3;:$8 miles; LoU1Bville branch,, North Vernon to .Jeffersonville, Ind., 53 miles; the Springfield Division, Beardstown to Shawneetown, ru.. 225 miles; New Albany & Eastern, Watson to New .Albany, Ind., 7 miles; total, 623 miles. The Eastern and Western dimions were sold in foreclosure and the Ohio & Mississipni Co. formed by consolidation Nov. 21, 1867. The terms of preference in the preferred stock certificates read a.a follows: 11,234,149 11,730,527 12,789,447 15,846,328 " The preferred stock is to be and ren_iain a first claim upon the pro6,196,301 6,156,264 7,173,020 9,266,884 perty of the corporation, after it-s indebtedneEs, and the holder thereof shall be entitled to receive from the net earnings ol the company 7 per 5,037,848 5,574,263 5,616,427 6,579,444 cent per annum, payable semi-annually, and to have such interest paid 55·16 52·48 l>6·09 58·48 in full for each and every year before any payment ot divictend upon INCOME ACCOUNT. the common stock; and whenever the net earnings" • ~ • * 1884-85. 1885-86. 1886-87. 1887-88 "shall be ·more than sufficient to pay both said interest of 7 per cent on $ $ $ $ the preferred stock in full, and 7 per cent dividend upon the common 5,037,848 5,574,263 5,616,427 6,579,444 stock for tbe year in which said&net earnings are so applied," then the 193,222 315,835 474,366 548,537 excess shall be divided equally, c. ----- ---- Of the new general mortgage $12,429,000 is reserved h exchange 6,090,793 7,127,981 for old bonds as they mature. Cyrus C. Mines. of Ind., and Union Tras$ 5,231,070 5,890,098 Co., of N. v . are mortgage trustee3. There are also $254,500 past-due 4,339,094 4,456,536 4,703 ,955 uonds held by trustees of sinking fund. 4,123,949 752,757 782,359 Sinking fund amounted .June 30, 1888, to $256,196, and floating debt 581,144 670,748 696,650 881,072 to $821 357, against which were acc'rsdue, materials, etc .• of $281,846. 352,154 673,550 112,698 224,09!'Rana~ of stock prices since 18!:s2 has been as follows: Common-in 50,376 55,633 6,445 17,813 '83 2f'@36&!.; in '84, 141la@25 7a; in '85, 1014@28113: in '86, 193a@351Js; 39,774 31,488 - - · · - - - - - - - - - - - - - - - - - - - tn"87 2ln32lg; in'88,17lg@26113;in'89,to Jan. 18,incl.,2114lll22&i.. 6,025,086 6,609,29! Pref...:-in '83, 96@1121t; in '84, .45@90; in '85, 71@78: in '86, 79@91; 5,778,899 5,139,111 65,707 518,68, in '87, 75~93; in '88 '" :)a84. 91,959 111,199 ~------------·--- -·-·- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mil' OF 'l'IIE t NORTHERN PACIFIC Subscribers wUI con.fer a e-reat Cavor by giving Immediate notice of any error discovered In these Tablet1. DESCRrPTJON. -------- - - - - - - - - - - - -1Miles l'or explanation of column headings, &c., see notes on first page of tables. INTEREST OR DIVIDENDS. Boal,w.sWh-~61 Date Size, or Amount . p , en uue. of of Par Outstanding Rate per When Where Payable, and by Btock:s-Laat Road. Bonds Value. _ _ _ _ _ Cent. Payable Whom. Dividend. 1 ·OW Oolony-1Omitinued.)- '84·'88 $1,000 $2,31.0,000 ~~!t~~~ :~~~h\~ i~~l~:~ '6,1•'70 500&c. 491,500 1,000 400,000 1874 0 1~~ 1880 1,000 1,912,000 1,000 (1) 18~8 -Omaha D orltJe Oily cl: s,,.-lat M. ($:l0,00 0 lJ. m.).c* 1,000 2,717,000 Omaha cl: St. Lottis-lat 1\-1.,gC'ld .••..••... •....... c* 14~ 1887 1,000 700,000 "1range Belt-lat M., g.,$fi,OOO p . m .• re<l. arter 1892 149 1887 1,000 14.254,000 Uregond Oa l-latM.,g ($3 0.000 p.m.)dr'natlOO.c· 475 1 887 1.000 25,000p.m. -Oregon Pacific-1st mort., land grant, gold ........ . 1880 100 24,000,000 &egon Railway cl: .Navigation-Stock . . ...........•. '746 1,000 5.541,000 1.st mort . •,onds, gold. sink. fd. (dra wn at 100) .. c 749 i879 1,000 10,843,000 Co!1sol. mort/!Slge, ~old_, $25,000 p er mile .. _. . c&r 749 188 5 1,(100 14,on,ooo Oreg nShorlL.-lstM.,g. ,mt.gu.byU.P.($25,000p.lllJ 610 18i2 1,000 10,063 ,000 Qregontt T1·ans•Oont.- rr. b'rts,~.,(s.f.dr'n at 105.c* 497 188 2 4,315,000 Notes Sfcurerl by collater al, Pxtended in 1888 .. 350,000 Osi.cego cl: Rmne-lst l\1. $ :{~5,1.., 00 gua ranteed...... 28¼ i865 1:000 1 ,000 152,000 lncome mort e:a~e bono.s........................... .... 1866 1,000 107,000 Convertible bonds, 1.000 year.s to run............ .. • . 1866 1,320,400 O•wego tJ Syracuse-Stock , 9 p. ct.1?uar., D. L. &W . . ... 50 35 1,000 Consol. mortgage (guar. D. L. & W.).... .......... 1876 438.000 1,000 668,000 Construction 1\1 •• g-uar. prin. & int. <for $1,000,000) • 35 1883 1,000 2,000,000 Owmsboro cl: Nashville-lat mortgage, gold ...•... c* 123 1881 100 7,000,000 ·,£657 i 00:000:iiue.A°ii ·, •s!i. c is61 £200 3,039.000 Sinking f undsubsidy,gold .......... . •. . .•...... c* 48 1880 1,000 2,6 '- 3,000 630,000 Paterson & Hud.-Stk., 8 p.c. perp. rent.N.Y. L.E.&W. 15 .••• . . .. Penr..sytvan.ia-Stock ................. . ............. .. 2,346 50 106,544,500 Ger.. M., Ph. to Pitts., coup., J. & J.; reg., A. & O. •••• 1 8 7 0 1,000 19,999,760 Sta.t-e lien (pay'blem annualinst'lm'ts ot $460,000) •••. l.5'.!2,071 Consol. M., coup. J. & D., & reg. Q.-M. lS, !. cum.). •••• i873 1:000 27,48.t.9:iO 4,998,000 Consol. mortgage, gold................ . .. . . . . . • . . . .. . . 1879 1,000 Bonds, reg. (P.W. & B. Rtock deposited as collat'l) 5 7 1 1881 .... 8,174.000 Collateral trust loan, g old, (s . f. 1 p.c.) not dr'n.c*• ..•. • 1883 · 1,000 • l:J,900,000- ~~~U J.1~.~i~ ;!~~: ?~:. 'bY~. 1t?i·.~~~~~lf~~a::·.:::·::::::::.~ p0e~~i~~~~~ir: :sooi·$ ·ss l~ 4 7 7 5 G g. 4 g. 5 ll· 5 g. 6 g. 1¼ 6 g. 5 g. 6 g. 6 g. 6 7 7 7 4¼ 7 5 6 g. l 7 g. 6 g. 4 .J. & J. .r. & J. J. & J. .T. & J. M. & N. J. & J J. & J. J. & J. A. & 0. Q.-J. J. & J. J. & D. F. & A. M. & N. Boston, Office. do do Boston, N. E. Trust Co. Nflw York or Loudon. N. -I.• U. 8. Trust Co. N. ¥.,Farmers' L.& r .co. N. Y., South. Pacific Co. N.Y.,45-U:ill'u St.&Lou. N. Y. Office, Mills lSldg. do do • do do N. Y. Union Trust Co. N.Y.,Farmers'L.&'r.l.Jo. 1904 & 1938 Jy'89&Jan'90 July 1, 1894. .Tan. 1, 1910 N ov. 1, 1918 Jan. 1, 1937 Jan. 1, 1007 July l, 19,27 Oct. 1, 1900 Jan. 2, 1889 July 1, 1909 June 1, 1925 Feb. 1, 1922 Nov. 1, 1922 Deo .• 1889 May 1, 1915 Aug., 1891 2866 Feb., 1889 1907 May, 1923 Nov. 1, 1931 Dec. 21, 1888 A.pr.1889&'97 Nov. l, 1910 Jan., 1889 Nov. 30, 1888 M."&.N. N. Y., Central Trust CoF. & A. do do F. & A. N. Y. Office, 96 B'dwa ~. F. & A. N. Y.,Del.,L. & W. R.R. M. & S. do do M. & N. N.Y.,Farmers.L.&T.Co M. & N. New York. . . . . N. Y., Office. 15 Broad. A. & O. N.Y., 15 Sroatl & Lond. M. & N. N. Y., Office, l J Broad, J. & .J. New York. 2¼ M. & N. Philadelphia, Office. 6 Q.-J. Philadelphia &London. uno f> A.. & 0. Philadelphia, Office. Annually. 6 Q.-l\I. Philadelphia & London. June 15, 1905 5 J. & D. <lo do Dec. 1, 1919 4 J. & .J. do do July 1, 1921 4¼~.-J. & D.· do do - J11ne 1, 1918 From July 1, 1888, to Nov. 30, 1888 (5 mo11.) gross ~a.rns. were $1,727,• bonds $106,000 are yet out, and the balance of $8,499,000 d~poslted 344, agai!.st$l, 1HH.1~2 in 1887; net, .+555,883, a~ainst $711,025. with trustee as collateral for tbe new ponds. but aubject t u cancellation. FbcaJ. year ends June 30; r eport tor 1887·88 in V. 47, p. 472. The la.nd grant was a.bout 4,000,000 acres, and is coverecl by the mortgage. proceeds ot land dales going to redeem bon<ls drawn at par, unless INCOME .ACCOUNT. 1884·5. 181'1 5·86. 1886·87. 1837•88. pnrch11~al,lelower. T1usteeofmmt1?age. Uuion Trust Co., N. Y. The plan of a1ITeement tor reorganization was reported in the CHRONGross ea-rnings. .••• i3,645,467 $3,671,920 $3,988,433 $3,977,5 f 9 ICLE, V. 44, p. lH<, 370. The road is l eased to tlle South. P a c. Co. for-'40 Net esrningf:'... . •••. $974,i31 $1,074,212 $1,337,953 $1,244,142 .rear,1 from Jan. 1, 1887, the lessee guarauteeini;c mrerPst on the lJonds. Disbm·sem entsThe Pamflc Iu,provement Co. owns the bulk of O. & C. stoclr. In 1887. ln terest on debt..... $1,0 24,900 $1,026,415 $1,024,716 $1,042,530 <n 3-10 miles, gross earns., $959,331; net, $266,641. (V. 46. p. 321, 353.) 8inkin~ fund . ....... 49,000 53,000 57,000 61,1100 Oregon Paclflc.-Road in progress and 101 mlles,from Mebama, Or., Misc~llaneous....... _ __ _ _ __ _ 29.931 to Yaquina, on Yaquina Bay, completed. Land grant, over 9CO,OOO acres, Total ..•. ·-···--· $1,07.$,'. 00 $1,079.115 lt,l,081,71G $1,rn;i ,4ul and covered by first mortgage. In June, 18 ➔ 7, a syndic-ate was reporte<l Balance ..•..••....•. def.l9~,169 def.:B5,203sur.!j:25~.237sur $110,681 i:u, having taken the balance of first mort. bonds to co mplete the road. -<V. 46, p. 76, 11a, s20; v. 4 7, p. 1e8, 2 21, 3 26, 432, 472.) Stock 111 $30.000 .Pl:r wile. T. E. Hogg, Presi2-ent, Corvallis, OreKoD. Ohio & Northwe,n.ern,-Road trom Cincinrrnti, 0., to Ports• N. Y. Office, 45 William St. (V. 45, p. 6-!3; v. 4,, p . 218.) mouth, O., 1 03 lllileR, and bran ches 26 uliles. The Cin. & Eastern, Oregon Railway & Navlgatlon.-0wna Ea.Rt Portland, Ore· s old in foreclosure Jan. 5 . 1887, was purcha.~ed by this company 1md gon to Wallul11, W. T., 211 miles; Walla Walla to Rips.ria, 56 miles; changed to st.ind1nd i:rangc.-V. 4 4 , ~- 5\.). Stock Issued, $2.000,000. Hones Junction to Dayton, 13 miles; Pataha. Juno. to Pomeroy, 30 In June, 1888. Samuel Hout waR a promted receiver, and in October an m.Hes; Walla Walla to Milton, 13 miles; Pendleton to Centrevillep 17 1:>sue ot $28:-.0, 10 6 per cr-n t receiver's certificates was a.uth nr izeil. In miles; Umatilla to Huntington, 217 miles; tot.al owned, 5!'>7 miles. Jan , 1 889, tlle Investn11-nt C,1. or Philadelphia obtained a majority of Lf'ases-Pa.Jouse Junction to C<>lfax, 89 miles: Colf,.x 1 0 ?tioiocow, 23 tle bond"3,-(V. 45,p. 6i3; V. 4G, p. ROJ; V. 4 7, p. 227; V. 48 , 1>. 38 , 68.J miles; Coltax to Farmington, 27 miles; Wallula to W:i lla. Walla, 31 Obto Southern.-The road was to extend from Springrteld, Ohio, miles: Blue M<>unt ain to Milton, Ore., 7 miles ; Cascade Railroad, 6 to some point on the Obio River. Length ot road completed and in mlle•; total operated June 30, 1888, 746 miles. Ocean line between San op~ration Dec., 1887, Spring field, Ohio, to Wellston, with extens ions Francisco and Portlana., 670 miles; Pu~et Sound lines, 275 miles; and branches, 140 miles. Stock (par $100); authorized, $5,500,000; River lines, 363 miles ; t.oro.l ur water lines, 1,308 m.les. Of the consol. bonds l!'i,441.000 are reserved to take up the old mort. out111tanctlng. $3 8.i0,000 . Gross earntngs in year cndin1t June 3 o ,' 88, $608 919; net, $-.247,988; surplus ov er iotneRt, $121,988. Alf.red Sully, bonds. There is a 1:,inking fund of $60.000 per ytar, plus interest on b011d'\ cance!ed for E-ink. fund (makin~ $93,180 in al in yi,a,r 1887President. (V. 4 1,, p. 53~, 650; V. 4c7, p. 530.} 8 ~) for the bonds issu~d in 1879, to buy bonds at or Ile ow 110, or else Ohio Valley.-Completed trom Ht'lnderson, Ky., to Princeton on the draw them at, par on .Jan. 1, bond~ o paid bein~ oan-·eled. The FarmClleE>. Ob.io & Suuthweattrn 8 9 miles; bra.nche8, 9 miles; total, 98 miles. ers' Loan & Trust Co. is trwtee of both mort1<age!I. The Oregon TransTo be e ~tended to Eva,nsvi1le, Tn<t. Ch<trter provides tor sinking fund Continental Company hold,1 about tll2,00Z,700 o , the stock. · auffic·ent to redeem bonds at maturity; no drawings. The sto~k is In April •• 1887, a lease for 99 yea.rs from J a n. I, l~a7, to the Oregon $1,960,000. In 1~~7. on avt>ra,ge or 62 m iles, 1!1'068 earnings were Short Line RR., gui.-ranteed by Union Pacifl.<l. waR made on the basis $101.86'2; net, $43,242: defleit under iuteret1t, $8,163. P. (J. Kelsey, of 6 per cent pe1 annum on the O. R. & N. Co.'s stock. In Oct., 1887, Pre1:,ident-, Henderson, Ky. (V. 4ti, p. 191.) tlle Nortll'n Pacific agreed to join tne U. P. a& lessee, but an iBjunotton Old Colony (MaH.)-Owns from Boston to Provincetown, Mass. against this was afterward granted in Ort>~on. (See terms &.o., v. 45, 120 llilles, lines to Kin~aton, Plymouth, Somerset Junction, New Bed• p. 539.) See abstr~ct ot lease, V. 45. p. fi39. · ford, Lowell and Fitchburg, Mass.• and to Newport, R. I., 24~ Dividends since 1876 have bef'n: In 187ll, 2 per cent; in 1880, 8 and miles, and numerous branches 101 miles in all; total owned, 470 10 scrip; in 1881 a • d 1H82, 8; in 18~:-f, 10; in 1884. 6½1; 1n 1885, 4¼; mil~; . leases-Fa.11 Rivl'r datlroaa, 12 miles; Nanta.skt-t Beach RR., 7 in 1886. 7; in 1887 and lb88, 6; in 1889 to date, 1-½2. miles; Bo!>ton & P,ov. RR., Boston to Providence,44mHes,anctbrancbes From Jan. 1 to Nov. 30, in 18~8 (11 moR.) , gross ear:u1ngs were $5,8!54.27 miles; total owned tind le>1 sed, 564 miles. In 188f! a lease or BoRtC'n & 263, aga,nst $4,836,409; net. $2,120,0 , 3 aga.mst lj!2,l7U,751., · Providence Road was ruade fur 99 years. There are also $56,001> 5s due Anmwl report for the year ending June :·iu, 1888, Wl\!-1 in V. 47,p, 7g3. April, 1891, interet11, A. & O. An increase ot stock from $12,000,000 to The tncomeacoouut showed net deficit or $67,26tl 'under charges and 19 $15,000,000 is prupo~ ed. p er centdlvidend for 1886·87. In l -'." 87·8 the est.imat~rt ·defl.r•it un er Dh-ldei1d~ i;;ince 1876 bave lH'en: In 1877 and 1878, 6 per cent; in 6 per cent dlvidend was $74,388. (V. 46, p. 76,102,771, 803; V. ~7. 1879, ni , ; 1n 1880 1-. n,I J 8:! J, 6; in 1882, 611?; from 1883 to date, at the p. 21~, 690, '748 : V. 48, p, 37 > rate of 7 per cent yearly. Ore~on Short Llne.-Road from Granger on the Union Paoiflo ~cal year tmds Sept. 30. Report for 1887•88 was in V .47, p. 529, (156 miles east ot Ogden) to a .1unction with the railroad of the Oregon JNCOltll: .ACCOUNT. Railway & NavigationCo.,at Huntington, Oregon, 542 miles, with Wood 1884•85. 1~85·86. 1887-88. 1886·87. Ri vM branch to Ketchum, 70 miles. Total, 6 t2 miles. Interest on the /lP,ui:pt$$ $ $ $ bonds is gua,ranteed by t he Union Pacitk. The stock is $1-J,073,600, 4,528,032 4,865,571 6,322,628 ot which Union Pactllc owns $8.0H>,6v0. L Pascs tht> Oregon Railway G ross ea.rrungs .•.••• 4,251,186 &Nav.Co.'slinesfor99yea.rs from Jan. 1, '8 ·, agreeingtopaytheinterest 1,281,056 1,302,~29 1,332,576 1,684,961 Net earnings.--··-·· 7ij,334. 89,931 P5,215 94,090 on bond8 and 6 p. cent un stock; the le~ is guaranteed by Union Paotiio. Other receipts ..••••. From Jan. 1 to Nov. 30, 18-,8 (11 mm1.), grois earnings were $2,426,Tptal income ..••• 1,360,3:}0 1,392,860 1,427,791 1,779,051 615, against. $1,846,257 in 1887; net, $1,117,i71, against $501,0.>5. Gross earnings in 1886, $1.942,107; net, ~0 7,376; dettcit undel' Di•lnl.rsenient#$ $ $ $ Rentals paia. . • • • • • _. 4!l,594 32,694 16,134 265,559 interest, eto., $:i95,10·i . In 1887 gross, $2,018,068; net, $658,151; de551,424 5 82,53! lnt.el'est on debt..••• 597,897 636,368 ficit under charges, $284,406. (V. 4-;, p, 227.) Dividends (7 p. ,·.) ... 73R,122 761,747 788,616 80~.763 Oregon k Trans•Contlnental.-Company organized under the 25,250 15,8!;5 25,144 74,3Hl la.we or Oregon on June 27, 1881, and received ~om the "Villard PO?,l" Improvem't. account. an a-ssignmeLt of the stock of the North. Pac. Railroad purchased by it. Total d1shuriae't11. 1,360,3!W 1,392.860 1,427,701 1,779 ,O:H The assets in Dec., 1888,included U2,00 t ,7GO stock of O.R. & Nav. Co• -(V, 45, p. 612,705; v. 46, p. 481; v. 47, p. 529, 664.) $6,, ·03,00o of N. Pac. prt!f. and $13,915.100 of N . Pac. common. (See Om.aha Dodge City & Southern.-(see Map.)-ProjMted from V. 47, p. 744.) The unfunded debt due Dec., 1889, is $4, :H!'i,OOO at 6 Superior, Ne·o., t-out11 wescerl v across Klt,nsas to Colorado Atate lilll:', p. c.; carried on demand and sbort loanll, $1,64.5.000; ~otal, $5,960,000. S rock authorized, $50,000,000; outstandinfC, :SW,000,000; 1,ar, 100. 360 miles, with h r-anch~s . 240 miles. The mortga.i:e is for $12,000,000; trustee, Metro poliran Trust Oo. Stock a.uthori.z.-d, $ l 2,0v0,000; par. The bonds are secured by deposit in trust ot first mortg. bonds on $lv0. Piesid ·nt, Ueo. M. Hoover, Dodge City, Kan.-(Vol. 47, p. 709.) new branch railroads at $20,000 per mile; also secured by tratflc con• tracts with the Northern Pactllc RR. Co. guaranteeing a minimum net Omaha& St. Lon• 9.-0wnsroat1rromCouncilBlulfs,Ia., toPattons• annual income of ll!l,400 per mile, being equal to 6 per· 1.·ent ' per anbur!i~ Mo., 14.4 miles. !'his com,Panywasformedin 1887 aP succefsorto the num on $20,000 per mile ot bonded indebtedness, and a sinking fund Omr,.h& Div, of the St. L. K. L'. & Nor. (Wabash), sold in :tor,~<'lo ·•u re. charge ot one per cent. The roads thus mortgala\'ed are: The No. PaciPref. 6 p. c:>. stock. non•cumula tiv~, $2,220, f,00; com. stock:, $:l,313,000, fic Fergus & Black Hills RR., of Minn., 117 miles, $2,3-12,0PO; Little deposited in trust for three r ears; par both, $100. ~ee alJ'!ltract o[ Falls & Dlfkota RR. or Minn., 8ii m., $1,757,000: J,unt'stown & Northmortgage. V. 45, p . 213; lull sti:ltement in V. 44, p. 812. Ju year end• ern RR. of Dakota, to·i m., $2,050,000; Fargo & Southwestern RR. of ing May 31, 1801-< . gross PA,r uinizs were $4:t5,940; net, $104,655; def. Dakota., 87 m., $1,748,000; d .1 nborrn Coopen1tnwn & Tllrtle Mouutai..11 under interest, ~8 1d. Offi ce, 49 Wall St. , N. Y. (V. 45, p. :tl::J, 3i>~.) RR., 37 m., $730.· •00; Rocky Mountain RR .. Monta.ua, 52 w., $1,034.Orange Belt.-From M,nnroe, o n the Jacksonville Tampa & K. W. 000; Helena& J eff. Co., 20 m., $-102.000; total. 50:~ miles- at $20,000 road, to ~t. P<:tt rs bur5 , 14!1 m leia. The lionda are 5·20s, a1Jd urny be r a . permile-$10,063,000 in bonds. (V. 46, p. 80J; V. 47, p 626, 6JO, 745.) deemed-after Jan., 189t. Tlley are guarantet'd by the Orange B elt In. Oswego & Ronu.•.-Owns from Richland, N. Y . . to Oswego, N. Y., vestment Co., and the issue is a t tl.terate of $4,666 p.m. (V . 46, p . 245.) 29 miles. R oad opened Jan. I, 1886. It is leased to the Rome Water• Oregon & Callforn~ A,-F,<>m Ponland, Or., to ual. State tine, 365 town & Ogdensl>ur~ RR.; a.nnual rental is 7 per cent on $325,000 "llllffl; Albauy Junction to Lebanon, J 2 miles; West Sirle Division, Port- 1st mortgage bonds and:t,18,260 tn cash; total, $tl,0l0. Of bonds du. land to Corvallis, 97 milPR. Total, 475 miles. fhe original Oregon & 13;0 $62,100 a.re yet outstanding. Stock is, common, $22fi.OOO; preCailloruia wa.,i iu u el auli; after 1873. and reorganized: Of the old ferred, $75,000; par, $10(). https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -------------------- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rolla Salem MAP OF THE OMAHA, DO GE CITY -AND- SOUTHERN RAILWAY CO. AND CONNECTIONS. INVESTORS' SUPPLEMENT. '100 [VOL, XLVIIL Sp.bscribers will conCer a great :favor by ,:Iring Immediate nonce of" any error discovered Jn these Table9. ~ Jr DESCRIPTION. INTEREST OR DIVIDEND. Bonds-Prlncf Miles Date Size, or Amount pa.l,When Due. explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable, and by 8tock8-Last on first page of tables. Road. Bonds Value. _ _ _ _ _ Cent. Payable Whom. Dividend. 1 -Pen,Jyl11ania-( Oontinued)1881-4 $1,000 $9,692,000 Car Trust certs. (in series payable 110th yearly), .. .... 1886-7 1,000 6,S29,000 : Equip.Tr.(ser. "A" to "G," payable one-tenth y'rl: 1875 1,000 1,000,000 Navy Yard bonds reg. (extended 20 years in '81) 50 20,000,000 4P~nnsylvania Oom-Gf'W,-Stock.......... . ......... 3,32°5 2,032,000 1,000 .Bonds, sec. by P. . .&C. stock (s.f.,dr'n at 105.r 1881 1,000 16,000,000 Bonds, ·g ., sec. bypl'ge and guar. (s.f.not dr.li°*&r 1,000 1,500,000 ~ennsylvania ti New York-lat M., end. by Le .V c* 105 1866 1,000 1,500,000 1st mort., endorsed tiy Lehigh Val ..•..••....... c* 10!5 1866 (1) 1889 General mort. for $10,000,000 .................... (1) A>enn. Pough. & Bost.-lst M.,g., for ($1,500,000)c' ·;73 1889 1:000 50 Pennsyl1Jania Schuylkill Valley-Stock ..•.......... 117 6,503,000 1,000 6,500,000 1st mortgage bonds, sinking fund, 1 per cent .... r 117 3,000,000 4'tnSacola ti Atlantic-lat m. g, (guar. by L. & N.) .. 160 1881 1,000 1,000 360,000 2d mort. (2d on lands) ............................. 160 1888 1884 Land grant bonds ............................. . .... 925,000 'ioo 1,500,000 47 d Bureau Val.-Stk~. ct.rent'lC.R.I.&P. 8,400,000 m>eoria Decatur <f: E1Jans1Jil toek ................. 2/'\A 1,287,000 lat mort., gold (Peoria Div., Pekin to Mattoon) ... 110 1:000 1,000 1 ,470,000 1st mo~a~e (livansv. Div.), gold ................ 135 1880 1,000 2,088,000 F. D. & . d mortgage, 01d .......... .. ........ c· 238 1886 1881-4 1,000 181,000 -Car Trusts (payable $48, 00 per annum) .......... 1,uoo 1,495,000 .«'eoria d Pekin Union-lat mortgage. gold ....... c ·20 1881 1,000 1,495,000 20 1881 t-Second mortg~e, gold (issued Ior ine-omes) ..•. c ~erkiomen-lst ., ser.1 (Ist1'n), gu. by P.& ~-.~-Ok 38 1887 100, &c. 800,000 1,000 1,450,000 11st M., ser. 2 (2dl'n), g.,guar. by P.& R.(end.) . c* 38 1888 100 .... 960,800 11Petersburg-8tock .................................... 63 100 -Ouar. pref. stock, a per cent., lien prior to mortg. 323,500 ... 251,000 l.st mort. bonds (payable $25,000 yearly) ... ~ ..... ·s2 643,000 1881 "Mort. bonds, class A, $251,000reserved for lstM. 800,000 !:Mortgage bonds, class B ........................... 1881 .... i877 isss •eona .... isso 6 i869 .... ··-· . ---· . --· Oswego & Syracuse. -Owns from Oswego, N.Y., to Syra~nR~, N. Y., ~I'> miles. Leased in 1868 during length of charter and renewal there,of to the Delaware Lack. & West. RR. Co. for 9 per cent per year on Jflll,320,400 stock and interest on bonds. (Vol. 46, p. 172.) •Owensboro & Nashville.-Owns from Owensboro, Ky., to Adair•"1lle. Ky., 84 miles. Operated by Louis. & Nash. RR., which owns a majority of the stock, and has $1,150,000 of the 1st M. bonds in pledge ~!for its collateral tlrust bonds. Gross earnings for 1886-87, $204,263; •.-net, $65,549; deficit under interest and taxes, $1,317. ($1,100,000 re""served for 1st mortgage. P!t.nama.-Owns from Aspinwall to Panama, 48 miles. Opened 'through Jan. 28, 1855. The subsidy bonclS are secured by a pledA"e of the ffllDl of $225,000 annual subsidy payable to the U. S. of Colombia by the company. In June, 1881, most of the stock was sold to partie& <~terested in the De Lesseps Panama Canal Co. The report for 1887 was In CHRONICLE, V. 46, p. 479, showing net income of $l,l4.l,ll 5 ,again 11t $641.'i,360 in 1886, and a surplus over charges of $619,902, against '$118,58 l. Dlviden~s since 1876 _have been: In _1877 and 187~, 12 per cer.t; in H~79, 13; m 1880, 16; m 1881, 34·26; m 1882, 1212; m 1883, 1312; in 1884, 16; in 1885, 10; in 1886 and 1887, nil; in 1888, 23. ( v. 46, p. 479,) Paterson & Hudson.-Owns from Jersey City, N. J., to Patereon, N. J., 15 miles. The road was leased ln perpetuity in 1852 at a ,rental of $48,400 per year, and is operated by the N. Y . Lake Erie & ~estemas part of its mainline. • Pennsylvanla.-1See Map)-LINE OF ROAD-The Pennsylvania sys\'liemembraces about 7,485 miles of railroad, including all east and west "-Of Pittsburg. At the close of 1887 the mileage operated east of Pitts' burg & Erie, on which earnings as reporte<l. were based, was divided as -follows: Pennsylvania Division and branches, 1,592; Philadelphia & Erie Divieion, 288: United Railroads of N. J. and branches, 467; total ,operated, New York to Pittsburg, with branches, 2,346. ORGANIZATION, LEASES, &o.-The charter of the Pennsylvania Rail.YOad was dated April 13, 1846, for a line from Harrisburg to Pittsburg. "ne line from Harrisburg to Philadelphia was under other organizations, tt3lncluding the State Railroad, and the Harrisburg Portsmouth Mt. Joy & iIAmoaster is still operated under a lease though forming part of the liJllain line. Road opened in 1854. 'The Pennsylvania Oompany was organized in 1870 as an auxiliary '00rporation to control all the lines west of Pittsburg & Erie, the Penn•"Bylvania. RR. Co. holding all lts stock · BTocK .AND BoNDs.-The Pennsylvania Railroad stock has been in4'reased trom time to time, chiefly by the sale of stock at par to stock•:Jloldere, for the J?llrPOBe of raising capital for new acquisitions or better-ments. The dividends paid each year since 1870 have been-in 1871, -1.872, 1873 and 1874, 10 per cent each year; in 1875 and 1876, 8 per -eent each year; in 1877, 4; in 1878, 2; in 1879, 412; in 1880, 6 and 1 per cent in scrip; in 1881, 8; ln 1882, 8¼; in 1883, 819; jn 1884, 7; tn 1885 and in 1886, 5; in 1887, 519; in 1888, 5 per cent. The prices of the stock yearly in Philadelphia since 1875 ta ve beenln '76, 4511>5838; in '77, 24l5g@49; in'78, 2711>3514; in '79, 3~3s~513s;· '1n '80, 48@6714; in '81, 5919@7018; in'82, 53 7sW6514; in '83 :'i618W64~; t<Jn '84, 4914@61; in '85, 45:\1.11>5618; jn '86, 513sai6014; in S7, 5319•a>f30; -bl 1888, 5214·@56l5g; in 1889 to Jan. 18, incl., 53ls!W5412. ' This company owns 217,819 sllares of the Phila. Wilm.& Balli RR., and ·~e 4 per cent bonds of 11:121 a.re purchased yearly, if obtamable at not ••.over par, with the surplus proceeds of Ph. W. & B. dividends. The collateral trust loan of 1883 is secured by the deposit of mortgage •!bonds of subsidiary lines to the par value of $12,500,000. •OPERATIONS, FINANCES. &C.-The total cost to the Pennsylvania Railad Co. of the stocks and bonds of other companies held in its treasury ~ . up to Dec. 31, 1887, $108,709,107 (par value of the same $142,"1:687,806), most of which ls represented on the other side of the balance --:8heet by issues of Penn. Railroad stock and bonds and other debit items; tthe balance to credit of "profit and loss" was $17,608,947. A plan of buying the company' s guaranteed securities with 1 per -cent of the net income per year is in operation, and up to Jan. 1, 1888, ¢ here had been purchased for the fund securities of the par valua of ·$5,584,400, which yielded an interest of 6·9! per cent per annum noon rthe purchaae pnce. From Jan. 1 to Nov. 30, 1888 (11 mos.), gross earnings on lines east or •~ttsburg and Erie were $53,363,985, ai:raimit $50,77o,3491n 1887; net, :$17,645,076, against $17,202.833 in 1887. Deficit on lines west of Pitts, !burg and Erie, $116.265 in 1888, against 1rnr_plus of $1,167,046in 1887. i Tlie report for 1887, was tn the CHRONICLE, V. 46, pp. 318 and 322. A summary of the total business of 1887, compared with previoll · 7ears, is shown 1n the following : · ~AB.NINOS ON ALL LINES BOTH EAST AND WEST OF PITI'SBURO & ERIE. 188~ 188& 188~ •Gross earnings........ .. . • • . $92,994,549 $101,697,981 $115,515,506 •~perating expenses......... 61,690,901 67,102,714 77,238,082 Net earnings............. $31,303,648 $34,595,267 $38,277,424 1.Fhe income account below embraces all receipts and expenses of the -~ennsylv&nia Railroad. proper, but not including the roads west of Pitts'burg & Erte operated by the Pennsylvania Oompany. The account for -~e yean 1885 1886 and 1887 was as follows: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4&5 4 5 4 6 4¼g. 7 7 5 6 g. ··5· 6 6 6 4 ..6.g. 6 g. 5 g. 7 6 g. 4lgg. 5 g. 5 g. 2 119 8 -"> 6 Q'rt"rly Q.-F. J. & J. .••. Q.-J. J. & J. ,T. & D. J. &D. Philadelphia.. Philat' S. Dep. & In. Co. Phil., a., Co.,forins.&c. Pittsburgh, Co.'s Office. Phila. Tr. 8. D. & I. Co. N. Y., Nat. City Bank. Philaaf'k N. ~erica. J ..&i>. F. &A. F. & A. N.Y., Holland Trust Co. .......... Ow Philadelphla, Penn. RR. N. Y., 50 Exchange Pl. do do do do N. Y.,Chio.,R. I. & Pao. .... .... 0 0 . ......... F. & A. J. .&.J. N. Y., Central Tr. Co. M.& S. do do M.&N. do do Various do do Q.-F. N. Y., Central Trust Co. M.&N. do do Q.-J. Phil., Penn.Co. Ine.on L. Q.-J. do do 1891'92,'93,94 1889 to 1898 Jan. 1, 1901 For1883 July 5, 1907 July 1, 1921 June 1, 1896 June 1. 1906 1939 Jan. 1, 1939 ned by Pa. RR. Dec. 1, 1935 Aug. 1, 1921 -..... -.. Feb:,--isss Jan:·i:·i920 Sept. 1, 1920 Nov. 1, 1926 Feb. 1,1921 Feb. 1, 1921 Jan. 1, 1918 Jan. 1, 1918 ......... Jan. 1, 1889 J. & J. Jan. 3, 1889 .f. & J. Rich'nd & Petersb'g,Va. Jan., 18~0-'98 J. & J, &o do July 1, 1926 A.. & o. do do Oct. 1, 1926 Net income Peni.. RR. Division. Net loss New Jersey Division •. Balance .•·........ - ......... . From this balauce deduct:Advances to Penn. Co.......... Payments to trust fund.•······· Consol. mortg,i,f redeemed - • • . ~:f.~We!:~-Lin~R~~ficii~oy Am. 88. Co.-To meet int. guar. Settlement of balances under trunk line pool ......... .... ... For fire at N. Brunswick, N. J.. Ex:traordtnary expenses........ . 1885. $8,153,685 159,4~7 $7,9~4,18!:! $1,000,639 58,621 324,830 7n,~ 90:000 ........ • .. .. ••• ........ $ 2 , l 90,666 $5,803,522 4 738 892 1886. 1887. $8,974,970 $10,4-U,287 179,016 227,991 $8,795,~64 $10,2la,296 $667,093 ~~ •• 8 9 5 ~ 80 0 6~~:~ig 90,000 3 $ ....... . 7 8 ,,6 2 4 3 24 8 0 0 352,835 '90:000 411,972 167,183 265,000 175,000 ........ 1,241,115 $2,542,150 $2, 4 29,5 5 7· $6,233,804 $7,783,739 4 738 0"92 5 4l8 702 Balance to credit of income.... Divi" d 8 nen • .. • • • ... .... ..... .. .. ' • , • , • Rate of divide nd ------·--....... <5) (5) (519) . To credit of profit aod loss...... $1,064,630 $1,514,912 $2,365,037 Deduct settlem't ot claims, &c.. 363,355 623,756 381,437. Balance..................... :t17 ui, 27 a $ 891 , 156 $l,~ 8 a,ooo Add profit and loss Jan. 1. ..... 14,032,918 14,73-1,193 15,625,347_ Balance profit and loss Dec. 31. $14,734,U,3 $15,625,349 $17,608,947 -(V. 46. p. 134, 289. 301,318,322, 3U, 413,481,538,678,828; v. 47, p. 109, 256, 381, 532, 664, b03.) Pennsylvania Company.-The Pennsylvania Oompany is a oor• poration chartered by ·t he Pennsylvania Legis1ature, ApriI 7, 1870, distinct from the Pennsylvania RR., and it operates all the leased lines west of Pittsburg. The stock is owned by the Pennsylvania RR. The registered bonds are secured by deposit of $4,000,000 of Pittsb. Ft. 0 1fi:cl:1:~c:r, t~!~~~~ ~J~_a!~!et'h~~tfe~ railroads and are also gnara.nteed by the Penn. RR. Co., the trustees of the mort. being Wistar l\lortiR, Edmund Smith and 8. M. Felton.. The sinking fund is 1 per conL rer annum if the bonds can be bought at par. The whole number o.f miles operated or controlled by this company is 3,32t>. 'l'he income account has shown net profits as related to charges: deficit in 1884 of $710,220; deficit in 1885 or $1,094,671; deficit in 1886 of $200,674; in 1887 Ret profits $675,516. (V. 47, p. 745.) ~-~~'i i~~~. l 11t~~ fr:-x:wJ?e~t!~!~ fa.:'t~~-l~t~ !~:n~~R~~e!!~!!'avJ;;-~~ Line, 104 miles; branches to mines, &o., 32 miles; total owned, 136 miles; !f\aSes-State Line & Sullivan· RR., Monroeton to Bernice, Pa.., 24 miles ; Wilkesbarre & Harvey Lake RR., Kingston to Harvey Lake, 12 miles; other lines, 5 miles; total leased, 41 miles; total operated, 177 miles. Operated in connection with the Lehigh Valley RR. as a northern outlet, and in 1888 was leased to it for 99 years. Common stock. $1,061,700 (par $50) and pref. stock, 10 per cent cumola,tive, $4,000,000 (par $100). Tbe gen. mort. of 1889 is intendt d to retire the pref. stock, with arrearages, and the other bonds when due. In year ending Nov. 30, 1888, ~ross earnings were $2,952,548; net over rentals, $844,526. (V. 48, p 98.) Pennsylvania Poughkeepsie & Bo11ton.-Under construction from Slatington, Pa., on the Lehigh Valley RR., to Pine Island, N. Y ., on the N.Y. L. E. & W., (about 80 miles), connection to be made by the lat1er road with the Poughkeepsie Bridga. Track to be completed in 1889. This is the old Slatington & New England, sold in foreclosure April 20, '87, and purchased by parties interef'ted in the Pougnke,psie bridge. Trustee of the mortgage is the Holland Trust Co. Stock, $1,000,000. PreRident. Gen. J. w. Husted, of Peekskill, N. Y. See CHRONICLE, V. 48, p. 38, 100. Pensacola & Atlantlc.-Pensacola, Fla., to River Junction, Fla. 160 miles. Operated by Louis. & Nash. since Jan., 1885, ana connects its system with the roads of Florida and So. Ga. Stock, $3,000,000 (par $100), $1,550,000 of which, and $1,000,0001st mort. bonds, are pledged under Louisville & Nashville collateral trust of 1882. Besides these securities that company holds $160,000 lets and all the 2ds and land grant bonds. To June, 1887, the compa-ny had acquired all but 1,124,200 acres of the land granted by the Sta.lie of Florida and had on hand, unsold, 1,382,928 acres. In 1~87-88, 99,!'i08 acres were sold for $112,358. In year ending June 30, 1888, gross earnings were $325,538· losl!, $15,549; total deficit for year under interest, &c., $239,519 against $256,772 in 1886-87. Peoria & Bureau Valley.-Owns from Bureau Junction to Peo ria, Ill., 47 miles. The road was leased in perpetuity April 14, 1854, to the Chicago & Rock Island Railroad at a. rental of 25,000 per annum Peoria Decatur & Evansvllle.-(See Map Evansville ti Terre Haute).-Owns from Pe.kin to Evansville, 235 miles; branch 6 miles; leases, Pekin, Ill., to Peoria, ID., 10 miles; through Decatur, 3 miles; total, 254 miles. This road is a. consolidation of the Pekin Lincoln & Decatur RR. and the Decatur Mattoon & So. and the Grayville & Mat. The road is operated in harmony with the Evansville & Terre Haute. (See full statement of the Co. and balance sheet in V 44, p. 552.) . Annual report for 1887 in V. 46, p. 351. Gross earnings in 1886, $814 744; net $336 981; gross in 1887, $876,474; net, $351, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE PENNSYLVANIA R.R. AND ITS CONNECTIONS. INVESTORS' SUPPLEMENT. 102 [VOL. .ll.VIlI. Subscribers "Will conCer a great Cavor by giving l.tn:1D.edlate notice oC any error discovered In these Tables. DESCRIPTION. l!'or explanation of column headings, &c .. see notes on 11rst page of tables. Phllaaetphw ti Balt. Oentral-Stock .••..•• ....•.... . Gen. M.for $2,500,000 ($1, 100.000 res'd ror lstM .) Westchester & Phila., 1st mortg~ge ............. c~ PAiladetp11,ia ti Erie-Stock, common ..•.•••.....•... Preferred stock, special. ..•.... ....... ..••. ..•. .••. 1stmort., Sunbury& E. (exte'd 20 y'rs in '77) .. c &r Gen. M., g., guar by Pa. RR.<$5,263,000 g. 5sl..c&r do do ... . ..•..••.......•.• r Phil. Germ. cf Chestnut Hill--lst M., gu. by Pa. RR.r Phil. Germ. cfNorrtst'n-l:3tJr.12 % rent.,Ph.&R. RR.. PA£lad-ef;pkia Newtown~ New York-Stock .•........ lat mort., guar. ov Phila. & Read., coup . .......•. .l'hitadelphia cf Reading-Stock (for $39,480,036) .. Mortgaae loan, sterlnlg, coupon ....•......•...•... o dollars, coupon ..•.•..•..••......••. do convertfkle, coupon .••..••..•....•. Mortgage loans, coupon .....•....•..............•.. Donsol. mort. ($8,162,000 are gold 6s) cp. or reg. .finprovement mort., gold .••...•......••...•...••. Consol.~. of '82, 1st ser., gold,$ & £ ..•.••..••. o• New ~en. mort., ~ld ($100,000,000) ........ c*.t:r 1st pret. income ., not cum. ($'.!4.400,000, .... c~ 2d pre::f. income M,. not•cum. ($22.500,000 ) ..•. C" 3d pref. inc. M .• ni -t•cum. ($6.631,30l convert.)c* Defen·ed income bonds (cominl after stock) ..... Car Trust Cert fl.cateR, Series " " ...•..••...•..... do do "B ' .••...••...•..•.. ''C'' ......•.......... do do Mortgages on 1 eal estate...•...••..•...••...•• . .... P. & K. Coal & I., purchase moneymort. l>ondEI ... P4ila. cf Trenton-Stock, 10 p. c rental, Penn. RR .. 7'ililadelphia Wilmington cf Baltimore-Stock ...• .. Pl a.in bondEI. re~Eltned .....................•.. .... . Bo-ncta-Prlnoi INTEREST OR DIVIDENDS. Miles Date Size, or When Due. Amount Rate per When Where Pavabte, and by pal, Par of of Stock.9--Laat Cent. Payable Road. Bonds Value. Outstanding "\Vhom. Dividend. I --79 -- -··:r· ·--- $2,495,650 lii..&..N. Phlla. Company's Office. l,Ull0,000 1,100,')00 7 A.. & o. do do 7,975,000 . ... . ......... 2.400,000 ··,;· A..&..O. Philadelphia, Pa. RR. 976,000 13,943,000 5 &6g. Variou11 Philadelphia & London. 1869 4,5f5.000 4 A. & O. do do 1,000,000 4.¼ M.&N. Phila., Penn, RR.Office. 2,231,900 Q.-M.. Phila., Treasurer ot Co. 3 .... 1,200,000 ..6. A.. ·.;;·o. Phila.: 227 .4th St. 700,000 39,480,362 ···967,200 6 J. .&.J. .... 1843 Lmdon . 1,500,500 6 J. & J. Phila<1elphia, Office. 1843·9 79,000 6 .J. & J . do 1857 do 2,700,000 7 A. & 0. ..... 1868 do do 18,811,000 6 g. or 7 J. &D. do 1871 do 6 g. A.. & 0 9.364,000 do 1873 do f>,768,4.52 5 g. M.&N. do 1882 do 33,18 0,214. 4 g. .r. & J . 1888 do do 2:'l,941,~47 5 g. Feb. 1 . 1st coup. 712% pd. in'89 327 l · B8 16.16 ·· ,~;)::J 5 g. F , b. 1. do <lo 327 1888 18, -'>7!1 ,l ,39 5 g. Feb. 1. 1st coup. 2¼% pd. in '89 327 1888 7.670.427 6 -. F. ·&:A.. tat coup. due Feb. 1, '8{) 1.000.000 6 ..... ...... .... -·-· 612,000 6 M.&S. do do .. ... 1,080,000 do . ... 4'2 do Q.-M. . · 2,l "8,792 .... -·-· '72-;84 500&0. 12,80.>.805 5,'6°&7 Various ·39 1,259,100 100 219 Q.-J. Phil'delphia, Co.'s Office 4 50 11,819,350 J. & J. Pilila., t33 8. 4th S c;. 506 4 1,000 l.000,000 .. . A.. & o. Phil.O r.; Bo,t.Ki l. Peab. 79 27 287 287 40 287 287 7 29 21 21 911 issi 1871 -··· i857 iss3 i877 ---· .... .... . --· s·:,; .·-·-· ... ~ - ~ $50 1,000 100 &c. 50 50 1,000 1,000 1,000 1,000 50 50 100 &c. 50 £500 1,000 500 &c. 1,000 200 &c. 1,000 500 &c. 1,0uO&c 1,000 1,000 1,1. 00 Nono pa.id. Nov. 1, 191,1 April 1, 1891 .... . ·-····· oci:·1:·i897 July 1, 1920 July 1, 1920 May 1, 19Ul Deo., 188~ ·so~ .... --· I .... I iss1 .......... Oct."· r; .i89'1 Jui;i;·nho JUly, 1910 July, 1910 Oct. 1, 189a Jnne,1911 Oct. 1, 1897 May 1, 192~ Jan. 1, 1958 Jau. 1, 1958 Jau. 1, 195S J an. 1, 1958 I, redei>mable • $200,000 y'Jy • 102.000 y'ly • 120,000 y'Jy • . ... ·--· Var. '92 to 'C'-1. Ja11. 10,18b9 Jan., 18 9 April. 1917 ~07; interest, $26&,820; c r tru.sts redeemed, $4.8,000; surplus, $33,987. 1' on May 13, 1872, the Mount Carboll Railroad was merp:ed and became v. 4.6, p. 35 I.l part of the mai!1 line. ~oad ope11:ed Philauelph1a to Pottsville in Jan,p Peerla & Pekin Union.-Owns from Pekin to Peoria, 10 miles 1842. The P~el~hia & Read.in~ Co. least;s a number of roads 1n -(V. 45, p. 26; on each side of Ill. River; total operated, 20 miles. The road is a union Pennsylvania, m~lu~g the Cat11;wissl_),, Che~ter Valley? Colebrookdale, road, and the stock of $1,000,000 was taken by the different Peoria. Ea-st fe~sylvama, Little Sch;uylkill, MlJ:1e Hill, 1?chuylkill Valley, PhilaRR. companies, and they pay a rental for use of the road and also pay delphia Germantown & Norps~own, Philadel_p!J.ia & Ch~ster, Sllamokm t.erminal char~es. See full description in v. 36, p. 25~'J. In 18d7 gros s earnings were $3"'4,8i2; net, $173,521; sur1tlus over interest and charges $ L75 Re<'eipts lu 1886. $2~6.352 · net, •$4.8,::U:>5; deficit under :Interest, rentals and taxes, $23,977. A. L. Hop"Ilns, Pres't, N. Y. . Pei:klomen!-Ownis from Perkiomen Junction, Pa,, to Emaus J"unction, 3~ Ill Iles. 1:he road was leased for 19 years from Aug. 1 , 1868, to Pbila. & Reading RR., .and bonds ~aranteed by tb~Je~sees; but "tb.e.Jjroperty was s~endere<1 m May, 1879. Stock B!!bscription,_ $38,· 04.0. Reor1-: a.mzed m 1887 and tlie new mortgage for ;;2,250,ouo 1ssu,.d 1n rethe old bo~ds~etc. There was due P~U. & Re.ad. RR. Nov. ~o. ~s~. o~ lo~n ace t,$,81.~20; on c~mt,,acc. 1 , $148,~30. ~n yea;-endIO#! Nov. .,0, 88. ~ ' oss earmngs were $-00, '~6, n et, $5::>,445, d tflcit under interest, $4.0,, 95. (V • 45, J>. 53, 473, 705, V. 47, P• 81.' . -"eter11b-llrg.--Petersburg, Va., to Weldon, N. C., 63 miles. In May 1877, a r~ceiver was appointed, but steps were taken by second mort• ga.4te_bondholders to prevent a sale, an<l reorganization was made "\\-ith •a23,500 preferred stock and $1,000,000 common stock; par $LOO. In year ending Sept. 30, 18b8, vross earn•~s were $410, t 03; net, $138,1.21:; !ro.rplus over interest and guaranteed dividend, $t6,907; d1 vidr nd No. 2 (ID corom..n stock (2 per cent), $19.216; bondR redeemed, $25.000. 1.n ear endiug St-pt. 30, '87, gross ea.1~ings were $351,889; net, $122,09ti.; surph!s over interest and guar. divldends on prer. ftock, $7,817; d1vinend No. 1 on common stock (3 per cent), $28,82-1. -lV. 4ti, p. 574', V. 47, p. 626.) PJi.Uadelpbla & BaUbnore C~ntral.-Philadelphia to Westeheste:r;, 26 miles; West~hester Jm;tction to Octorru·o Md., .16 mile~; leaaed Chester Creek Railroad, 7 miles; total operated, 79 IOlles. This ,ras a consolidation, Oct., 1881, of the Philadelphia & Baltimore Central ·aDd the Westchester & Philadelphia railroads. Of t,he new ; toclr Phllad~Iphia ~ilmington & Bal!,i more RR. holds nearly all a_nd operates 1ibe road. vaym~ over n et earnrngs &s rental. In year eudm!! Oct. 31, 1887~ net t'liorning~ were $143,184; defi(?it under charg-es, $L,830. In 1.887·8'8, net earnmgs. $149,171; det101t under charges, $3,701. ..lillJ',\lelpbia & Erle.-Owns from Sunbury to Erie, 287 miles. Foi!Jnerly Sunbury & Erie RR. It was leased to Pennsylvania RR for 998 years from Jan. 1, 1862, the lessees to pay 30 per cent of i·oss reqeipts • as rental, but modified January 1, 1870, so that actual net ~ p t s are paid as rental. The general mo~age is guaranteed by tb.e PemiSylvama Railroa-d and the interest on the 6s is paid J. & J., on the 5 i1er oents A. & o. The unpaid coupons arP. held bv tilP lessee for ad• vatices, and llY ter-ms of adjustment in Jan., 1885, made wlth the P enna. Railroad Co. the P. & E. ii'sued $1,500.000 debentm·e bondEI at 4½ pP.r oe11-t, secured by the ovndue cuupons held as collateral. '.rhe fo ur per cel).ts Wt-,re hsued in 1888 to reti• e these de nenrures and refund othtr bo ds falling due. The Penn. RR. Co. owned D ec. 31, 1887. $3,501.'-IOll common and $2,400,000 p1 et. stotk, $1,470,000 debentures and $3.ti80,· 000 o per cent general ruort. bonds, and the city of Plliladelphia (s. f.) $2,250,000 corulllOO stock. Frl;>m Jonuary 1 to Nov. 30, 1888 (11 months), gross earnino-s were $4115,87~, 11,gst. $3,708.294 in 18b7; net, $1,639,521, agst. $1,492,877. Dast report was in CHRONICLE, V. 46, p. 2 :.! 6, giving the following: INCOME ACCOUNT Bmipu1884. 1885.· 1886. 1887. Total earnings •••••.. $3,660,l4.6 $3,29:t, 2 53 ~ 3 ,708, 4 85 $4,036,µ30 "Net earnings........ l,45't0fl 0 1,292,880 1,465,95& 1,579 ,8--3 Beb,ts..... .... ...... 9,120 8.47t l•l.S:16 13,396 ' Total income.... $1.467 200 $1,30 1,351 lj>l,-1c 7 (,,; 8 :1 $1,593,279 To1ia.t tllsut.msem'ts 1,250:218 1.187,713 1,339,328 l.47'.2 ,2Q'-' "'2 • 9"2 "'l • '--3" $l 37 .. 61 Surplus ...•..••. •··· .., • lti . 0 .., l;j,., 0 ,, ll,l:.'.v,~ o.1. -(V. 46, p. 134, 226. 371, V. 48, p. lOO.) Philadelphia Germantow-u & C~estn~t Hl11.-In Philadelph18-from Germa.utown June., on Connecting Railway, to Chestnut Hill, 6~ miles. From May 1, 1883, leased for 30 years to the Pennsylvania "BR. Co .. whi<?h gu~ra!}tees 4¼ per. cent on the bonds. RPntal net e11rnings. There 1s a smkmgfund or$ ,0 .000; bond11 purcha s1•d, not drawn. at par. Penn. RR. ow111> $9 i• 9,750 of the $1,000,100 stock (par $50). Gross ea.rnings tn 1887, $170,421; net over expensea and taxet!, $25,tI.Cl. --...lladeJ-nbla Germantown & Norristown -Philadelphia .ru. ., . • . • Pa., to Norru,town, Pa., 17 miles; Germantown Branch, 3 llllles; Ply· mouth Ra-ilroad, ~ miles;_ total, 29. miles. The property was leased Nov.10.'7U.to Philadelphia&Rea-dingRR.for999yea-rsatarentalo1 !~:~~;3P~~d~~o~~a~lliJo;e~~~tt~~~~$ite:s.fJ;~~!~s$~~~ 2 1 ., Jthlladolphla & Readlog.-(Sce .llfap.) LINE OF ROAD-Owns mam lmt:l Philadelphia to Mount Carbun, Pa., 98 miles; branches owred, 229 miles; leased tines. 537 rniles; roads controlled, 76 miles: totaloper• ated Novemtier, 1887, 9-ll miles. The Shamokin Bunoury & Lewisburg, and the Jersey Shore Pine Creek & Buffalo and other llnAR, form tbe c:<1nne<>ting roads to the N. Y. Ci>nt. & H. at Geneva and Lyons. N. Y. ORGANIZATION, LEASES, &c.-The Philadelphia & Reading Compan) was chartered April 4, 1833, to build from Philadelphia to Reading, and https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Bmibur.v & Le wii,,hur·.!!~ ~chnylhlll <It Lehi~h ana somt' mmor roads; also. t:11e North P ennsylva:ma RR. and Delaware & Bound Brook, fonning ~ line from Philadelphia to New York, and oontrol.11 R~ad In~ & Coluwtna.. The fl.:;ca~ year e~1ds Nov. 30. The annual election is held early 1n Jan. The Philadelp1na & Reading Coal & Iron Cowpany 1s a corporation formed (Dec. 12, 1871) for the pmuc;i:1e of owning and wotkiug tho ex• tensive coal properties of this company. The Phila. & Read. RR. Co. own111 all the stock ($8,000,000) of the Coal & Iron Company, and In 11.ll had invt>sted in it Nov. 30 1888 (as per balance sheet) $72 615 374 over lla.l>ilities ' ' ' ' It also· held Nov. 30, 1888, other s•ocks and bonds appraised at. $ 4,734.74-l, besjdPs $t,a51,777 deposited with tr, .stees. In F eb., '8.6, tile Drex~l•Morgan syndioate wa.~ forUJoo., and the plan of r eor . i; nlza_~1ou was pubhshed at l ength, as modi fie t, in the CrIIWNICLll or D ec. 18, 'r-o, on p. 747 (V. 43. p. 747); and out of $132,9-l2.6:Z6 or bond& an<:I stock ot the Reading aud its leased cornpanie:; nearly atl assented to tbe 1·eorganization scheme, except, that of the $5,-; 68,722 tlrst series consol. tlves not deposited, the holders generally ail agreed to accept. r,aymentof their bonds at anytime. !'he P. & R R lilroad 'l'rlr111ioal Company with $3,500,000 bonds and $3.5 ·0 .000 stock was or.l{au.ized as per ~tatement in V. 46, p. 413. . Undertberellr_~antzation agreement the right to vote on stock is vested rn five trustees tul Aug. 1, '9 ~; these are J.LowberW ...lAh.J.PierpontMor• gtLn, John Wanamaker, Austin Uorbin, and Geor5 e de Be Keim. STOCK AND BoNDs.-The common stock remains of the same a.moun, as before reorgauizatiun . The dividends paict on Philaclelphia & Reading stock frow 1870 to 1~75, inclusive, were lO per cent each year; in 1876 212per cent was paJ.d and nothing since. Tlle general, and lirst. setond aud third prefere c:ce income mortgages (Trustee 01' all Pano. (;o. for Ius. ou L ives etc.. of Philaclell!hial cover io addition to the 3"1.7 mileA of to ad owned; the title to leased hues (mostly leased for 999 years), au real estate roliino- stock: and vessels of the Company, $~.ouo,oov P. & K. u ,,al & lron Co. stock, as well as the real estate of that Company,_a.nd subject to a morLga:;ce to P. &: R. l"t8. C,,._ datecl July l, 1874, sto ·k m othi,r coal a-nd 1r ,n oom• pau1t-s amouutrn~ to $7,448 975. A.n abstract of t ne gener.1,l mortizage was in. the UH1wtt1CLE, V 46, p. 679, and of the preference iucome mortga-<{es rn V. 4 7: p. 141 a!Jd l -1c2. . ~, , The 1st and 2 prer. 10co ·.r es received , ~ p er cent on Fel>. 1, 181-9. ~nu the 3d pref. only 212 pl:lr cent. Tllo net taruiugs are d'-'tlued in tbe ma. mo_rt's as the prolitt:1 of tlle RR. Ct!· for each ti:,oal year end' g Nov. 30, d~r1Yed from all so rcet>, after pay1 g opera.t'g e-xpen-.cs. taxe•, and ex1stmg rentalti, u;uarantt)es, and int. olrnrgec1 ,out n ut tlxed charge~ of ' h~, same .sort sul>se_quently c , eate,1); a !so, a tter ded11ctiu~ expenses ~f r enewmg, r epla<:IDg a.n.d repail·1u.l{ Its s a id prope1 t.v aad pteUJ1ses> mclud10g f'UCh rea.~onable 1mprovement>1 thereof and 1?-dd1tions t~1:reto as shall b l3 n ecessary mr the Sll.fe, proper aud econom10al operation or the same."-(\". 47, p. 256.) The range of P. & R. stock ye_arly~n Philadelphia since '75 (shares $50 par). has IJeeo in 1876, 18-½Ja,:,5; m 1877, 10@2014; in 1878, 113s@ 19!\i,; in 1879 11.¼@375s; in 1880, 6!\i,a,36; in 1881, ~53sa>3714; in 1882, 23;Ls 1'1 335g; lil 188 3, 23-½3@30½1; in 1~~4. 812-.v3014; m 18'!5, 63s7» l'.! 79; in 'B ti.9½}&,27; in 87, 17 14@35 75; in ·~8. to AU/!- 10 iuul., 257sai313s; ~e25.stock, Aug. 11 to Dec. 31 m~11., 2!.11'®27-¼; in l8j9 toJan. 18, 2378 OPERATIONS, F!NA...~CES, &c.-The Philadelphia & Reading Co. hu been the largest of the anthracite coal carriers, and through its auxiliary~ the Philadelphia & Reading Coal & Iron Co., became a large owner or <'~allands. In May, 1880, receivers were appointed and held possession till :,y, 1~8a. L11 .June,_188-!, tile compauy again went into receivers' hands, and so remarned tillJanuar,, . 1~~13. '.rho anuual charges in 1 1380 coming before dividends on stock are sub~tantia.Uy a s follows: Rentals and interest bo ih oompanies .•.•.•...•...•....••.••• $8,231,000 Annual payment;; for c,ir tru ts.............................. 4~2,000 $23,94.1,'247 uf first preference bonds "@ 5 p~r ceut. .... .•. l,ltl7,000 :ti ! 6,165,853 or secoud pl'eference bonds "@ 5 per cent . . . 808,000 $18,57,, ,639 of tllird preference bundA "@ 5 per cont........ 9:t t- ,000 T 0 t l O r 11 h 0.,. di ,, k $ a a c ar es prece n.,, stoc ······•·········· •:· 11, 589 , 0 o0 The fl.seal year _ends Nov. 3o; the report for 1887·8, m V. 48, p. 97• showed the 1ollowrng: l885 96 1886 87 188'" 88 Net earniu~s RR. Co $8 ,182· 65.7 $10 981 5-2 $9 619 338 1 Nt · er l'&I·c····of ' ~• · p ' ' ' '~ 111 e ear nos • . o... ~~14,~0.>5 r:_!:«B:482 Pr. 28,6iJ2 Total net both Co.'s... $7,335,t02 $12,430,054 $9,677,990 Deduct- Rentals RR. Co .......•.••• fnterest RR.Co .......•.••. Interest Co!l.l& Iron Co ... $3,620,939 6,222,',6::i 9d4,6ll4 $3,300,383 5,478,132 794,272 - - - - ----- $2,882,582 4 ,516,4.33 834,872 Total deductions...... $10,828,4.86 $9,572,787 $8,233,8:s'T Ba.lance, both Co.'s..•••. Def. $3,492,884 Sur.$2,8.>7,2b7 Sur.$1,444,103 MAP OF THE .... "· !\, ::Millville ,.-tl,J3ear Cr. Jc, PHILAD·ELPHIA & READING RAILROAD AND ITS CONNECTIONS. aJ A ~~ ~ 00 •.-< ~ C 0 &.; C1.l ~ ~ ~ ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis :0 .... INVESTORS' SUPPLEMENT• [VOL. 8ab•erlben will coa.Cer a crea& Cavor by giving Immediate notice oC any error dl•covered In &heee XLVIll. Table■• Boncu---Prtnol DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Btze;or pal,When Dae. A.mount Par Outstanding of For explanation of column headings, &c., see notes of Rate per When Where P~ble, and by Btoc"/u-LMt om. Road. Bonds Value. on first page of tables. Cent. Payable Dividend. Wilm. & Balt.-(Oontinued)-Pla.in bonds ..• Plain bonds, s.1d. $16,000 yearly, not drawn ..•. s. fd. $20,000 yearly, not drawn ...•. do do Piedmont cl Oumberland-lst mart., gold ......••. c• .ftm Oreek.-lst mort., guar ......•....•...•......••. Pt.tu. a. & St. L.-lst M •• consol. .•........••.••. c&r. 2d consol. mortgage, held by Penn. R& ...•..... c let mort., Steub. & Ind., extend. in 188-1•.....•. r ()ol. & Newark Division bonds ..........•.•.•..... c Holliday's CoveRR. m01;!t,"age bonds ......•...• . c PUtsb. Ole'De,&Toledo-lst .,gold,int.guar.,B.&O. fitlllb. cl Oonnells'Dille.-lst mortgage .............. 1st mortgage Turtle Creek division ... . ....... . ... Consol. mort., guar. ~- & O. (s.f. £7,200 pr. yr.) .. ~d consol. mortg., ~~l (pledged for B.& 0. bonds). Pfflsb.Ft. Wayned! O ic.-Btock, 7 p.ct.,guar. Pa.Co. Guaranteed special improvement stock ....••..••. t{ lat mort. (series A to F) } s· Jr f d m • un ' cum., no. 2d do (series Oto M) drawn .. ·••· · · · •• · c 3d mo~ag~............ PUuburg unction-lat M., fld .••..••.•...•.. . •.... c PUtsbUrg d! Lake Erie- Stoc ..•...•..••..•...••..••. 1st mortg:ie, gold, coupon .•.............. . ....••. Pi,ttsburg Mc . & Yough.-Cons. stk., guar. P.& L. E. 1st mortg., guar. by P. & L. E. and L. 8. & III. B.. 2d mort~a,ge for$ l, 750,000 ..•... • .. . ..........••. PittBb. Painesvitle & Fairport-1st M., g., int. gu.c* Pitlsb. Sn,enango & L . .A1•ie-lst mort., gold ........ c Pi-ttso. Va. & 0/tarleston-lst mortgage, old ........ Pittsburg cf Western.-lst M.,fi(for $10, 00,000) . c" 1st mortgage Pitts. :r-. , wcast e & Lake Erie....••. Old Pitts. & West., 1st mort .....•...............•. Ph,ua. 3 -- - -$1,000 -.... 187-2-4 $700,000 1,000 1875 800,000 1,000,000 1,000 1880 1 ,000 1,000,000 1887 650,000 30 1886 1,000 3,500,000 1,000 1883 i99 1868 1,000 6,863,000 1,000 199 1873 2,500.000 1,000 3,000,000 125 1864 1,000 1864 134,000 33 1,000 120,000 7 1863 2,400,000 78 1882 4,000,000 1:000 149 1868 326,600 10 1859 100 &c. 6,321.040 £200 149 1876 149 1885 100 &c. 10,000,000 100 19,714,286 470100 11,244,400 470 is11i 5,250,000 468 1862 500 &c. 5,160,000 468 1862 500 &o. 2,000,000 468 1862 500 &c. 1,000 1,440,000 414 1881 2,050,000 50 71 2,000,000 1,000 70 is7s 3,100,000 50 65 1884 2,250,000 1,000 62 1882 1,000 850,uOO 62 1884 1,000,000 1,000 63 1886 1,000 2,500,000 111 1888 3,000,000 1,000 70 1882 9,350,000 1,000 226 1887 219.000 .... 1878 500 &c. . .. 81,000 .... ... ... .... .... 0 I ·- - 6 6 5 4 5 6 7 7 5 7 6 6 7 6 6 5 g. g. g. g. llli llli 7 7 7 6 g. 3 6 g. 3 6 6 5 g. g. g 4 g. 7 6 A. &O. Phlla., 233 So. 4th St. A.. & o. Phil.Of.; Bost.,Kid.Pea T. &D. do do M.& N. Phil.. 233 So. 4th St. F. & A. New York and Balt. J. &D. Phlla.. P. & R. RR. Co . F. & A.. Phila., Pa.• RR. Office. A.. & 0. Jan., 1883, last pa.id. J. & J. N. Y., Nat. City Bank. J. & J. Phila., Pa. RR. Office. F. &A. do do A.. & o. New York. J. & J. Balt., Balt. & Ohio RR. F. &A. Pittsb., First Nat. Bank J. & J. London. J.S.Morga.n&Co F. & A. New York Agency. ~.-J. N. Y., Winalow, L. & Co. .-J. do do VariOUEI do do VariOUB do do A. & 0 Clo do J. & J. N. Y., Third Nat. Bk. J. & J. Pittsburg, Co.'11 Office. J. & J . . N. Y., Phila. & Pittsb. J. & J. N.Y., Union Trust Co. J. & J. do do J. & J. do do J. & J. N. Y.,Mercantilt,. Tr. Co. J. & J. New York. A. &O. Philadelphia.. J. & J. N. Y .. Drexel, M. & Co. J. &D. do do . ... do do Oct. · 1. 1892 A.}:;ril 1. 1900 une, 1910 Nov. 1,1922 Aug.1.1911 Dec. 1, 1932 Aug. 1, 1900 A.yril 1, 1913 an.1,1914 Ja.n.1,1890 Feb. l,189Cil Oct. 1, 1922 July, 1898 Aug. 1, 1 889 Jan. 1, 1926 Feb. 1, 1926 Jan. 8, 1889 Jan. 2, 188& July 1, 1912 July 1, 1912 July 1, 1912 July 1, 1922 Jan.18,1889 Jan. 1. 1928 Jan. 1, 1889 July 1, 1002 July 1, 1934, July 1, 1916 July 1, 19'38 Aprill, 1912 July 1, 1917 June 1, 1898 Oct. 15. 1900 The following ta.l le shows traffic and joint earnings for eight years Street Connection Ry bo nda assumed. There a.re also car trusts, which. • Ntlledfor an outlay of $70,611 in 1887. excluding the business under Central RR. of New Jersey lease: The statistics of the report for 1887 are a.a below: TRAFFIC AND E ARNINGS OF RAILROAD AND COAL & IRON COMPANIES. 1887. 1886. 1885. 1884. 1 5,808,378 4,033,623 4,752,:'i96 4,045,257 Total gross earnings. 0 4,017,219 2,681,633 3,130,690 2,731,960 Gross re- Net e'rnings Op. exp. and taxes. . ff::-/1:JdlM'1·chandiselld',~;; 2240 lbs.), carried one I. Oo., tons ceipts bot11, of both compani es. 1,351,990 1,621,906" 1,791,159 1,313,297 2240 lbs. companies. mi le. Net earning-a......... 1 one mile. 69·16 65·87 66·48 67·53 P.c.of op.ex.to earn's 5,422,600 $35,286,463 $10,051,888 1881 ... 583,689,725 303,460,473 ACCOUNT." INCOME 10,647,770 37,300,162 5,624,789 1882 ... 628,975,470 327,347,373 6,074,131 40,045,615 11,855,181 1883 ... 713,984,492 305,871,807 1884. 1885. 1886. 1887 8,950,554 5,672,6 ><4 37,009,753 1884 ... 58!:!,980,525 319,279,871 Receipts$ $ $ $ 7,926,304 Net earnings ..•••.••. 6,040,1781 34,343,501 1885. . . 665,018,573 359,526,194 1,313,297 1,351,990 l,621,906 1,791,159 7,335,603 Rentala and interest 6,20 3,202 35,683,096 1886 ... [727,179,462 398,862,487 4.624 4,835 4,974 5,778 6,901,497 41,188,737 12,430,054 Net from l'sed roads. 1887.. . 835,308,697 444,614,423 423,531 378,330 432,897 654,955 9,677,988 MiscellaneoUB ..•...•• 6,732,4J,6 39,638,990 1888 ... 848,257,474 4 35,904,463 589 (V. 46, p . 39, '73, 76, 134, 171, 289, 413, 464, 538, 6 ~5, 679, 699, Tot alincome ..•.• 1,741,452 1,735,744 2,059,777 2,451,892 739,772,803, ~19, 828; V.47,p.22,81.109, 141,142,161,256,278, Di.sbursements$ $ 287,382,499,532, ti64 ; v. 48, p. 68, 98.) $ $ Rentals pa.id ...•...•. 849,920 830,881 931,518 938,683 ' Philadelphia Newtown & N e-w York..-Owns from Erie Ave., lntereston fund. d'bt 646,990 646,990 648,990 646,990 Philadelphia, to Newtown, Pa., 21 miles. Stock, $1,200,000 (par $50), Other interest ..••... 183,850 178,615 133,104 150,054 The bon<ls were guaranteed by the Philadelphia & Reading RR Co. The Int.on C.&M. Val. bda. 105,000 52,500 road is operated by its owners and in connection with the P.&R. system . Loss onSt.L.V.&T.H. 33,011 In year ending Nov. 30, '87, gross earnings -were $88,191; deficit under 42,003 ·66:o"ii '' Cin.& Mus. V. RR. operating expenses, $2,538, against deficit of $6,179 in 1885-86. Mi.sQellaneoUB .••. . .• 27,888 "i4,:i72 iis:2i1 Philadelphia & Trenton.-Owns from Kensington, Pa., to Mor1,848,944 1,725,784 1,775,903 1,888,662 Total............. Bridge risville, Pa., ~6 miles and Tioga Branch, 1 mile; leases Trenton Connecting RaiJroad, 7 miles, and Frankford & Holmesburg Railroad, 4 Balance .••......••... def.147,210 def. 40,159 aur. 333,993 sur. 602,948 miles; total o--wned s.nd leased, 39 miles. On D ec. 1, 1871, it was leased with the Unit ed Companies of N. J. for 999 years to the P enn. • Exclusive of Col. Chio. & Ind. Cent. BB., at 10 p. c. on st ock, and ts operated as a. p a rt o1 its N. Y. division. ° [}a":ctl -------- ------- ---------- ---------- Philadelphia Wllmin2"ton & Baltlmore.-Mllea~e a.a follows: Pbiladelphia Wilmington & Baltimore RR., 122 miles; Philadelphia. & Baltimore Central, 7'd; D ela.ware RR., 100; Quee n Anne & Kent RR., 26; Delaware & Chesapeake, 55; Cambridge & Seaford RR., 27; Del. Md. & Va. RR., 98 miles; total operated, 50ti miles. Owns over half the atock of the Phil. & Balt. Cen t . From '68 to '&7, inclusive, divs. of 8 p. c. were paid; in ' 88, 7 p. c.; in 1889 to date, 4. In April, 1881, nearly t Jae whole stock was purchased and is held by Penn. RR. Co. Fiscal year ends October 31. lNCOME ACCOUNT, 1884·5. $ 1885-6. $ 1 886-7. $ 1887·8. $ Gross earnings ..••......•. 5,678,~98 6,004,764 6,007,805 6,60-!,653 Net earnings . ..... .. . ..... 1,788.816 1 ,86 2,630 1 ,471 ,028 1,777,275 GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR, 1884. 1885. 1886. 1887. Assets$ $ $ $ RR., equipment, &c .. 20,798,277 20,870,740 20,965,392 21,202 077 St ocks owned, cost .. Bonds owned, cost .. Betterm'tst ol's'dr'ds Bills & a ccts. receiv .. Materials, fuel, &c. ·; . Cash on hand ..•..••• Cin. Str. Conn. Ry ... Profit & loss balance 1,085,967 23,750 21,744 1,119,287 2g2,014 258,918 64,639 396,124. 1,085,967 23,750 38,17 1,036,391 389,995 276;134 64,639 428,482 1,085,967 23,750 16,021 951,613 330,697 322,045 64,639 119,300 1,085,967 ·i;;:iso 1,191,589 580,465 293,843 64,639 Total assets ...... 24,060,7..?0 24,214,268 23,879,426 24,370,071 L iabilities$ $ $ $ 171,530 Stock, common ..•... 2,508,000 2,508,000 2,508,000 2,508,000 Stock, preferred ..••• 5,929,200 5,929,200 5,929,200 5,929,200 Total n et incom e •••••• 1,911,189 2,009,008 1,625,816 1,918,805 Bonda ..•. ······-····· 12,617,000 12,617,000 12,617,000 12,617,000 All other dues& aco'ts 1,451,050 2,013,724 1,680,136 $ $ $ $ 1,787,248 Disbursements845,826 845,826 845,290 445,492 Due Little Miami RR. 374,802 367,650 Bente.ls paid...... . . . ...... 38 6 ,634 759,639 262,500 262,500 262,500 233,207 Cin. Street Conn.bds. 204,172 200,000 Interest on debt...... . .... 200,000 262,500 447,1« 38,018 37,298 4 7,t 9 8 Miscellaneous .....•• 47, b98 47,697 47,68 6 37,299 State taxes................ Dividends .•• . ........ .. •• . (8 )945,54d (8 )945,548 (8 )945,548 (7) 8 27,354 Profit & loss ba.lano~ 469,185 213,292 Improvem ents............. Tota.llia.bilities .. 24,060,720 24,214,268 23,879,426 24,370,071 8 5,076 'is:6ti5 °44:284 11,674 B1.scellaneo us.... . .•. .. ... -(V. 46, p. 172.) Total disbursements .. 1,591,542 1,574,501 1,616,554 1,852,119 Pittsburg Cleveland & Toledo.-(See Map of Pittsb. cl Western.) 96,686 9,262 434,507 319,647 Balance, surplus.......... -From Newcastle Junction, Pa., to Akron, 0., 77 miles, Stock $3,000,(p!1.r$50), or which B. & 0. RR. owns $1,505,000. Leased inJuJy, 000 West Piedmont, from extends Cumberland.-Road & Piedmont Va., to Cumberland, Md., 30 miles. It connects the West Va. Central & 1884-. for 99 years, to Pittsburg & Western, which wa.s controlled by Bal& Ohio, and the B. & 0. guarantees interest on the P. C. & T. timore contraffic a has and Pittsburg RR. with the Penns;Vlvania RR. sy s tem, tract guaranteeing 5 per cent of gross earnings to and from this road bonds (see terms in V. 39, p. 607.) In 198~ road was in litigation, but From July 1, 1887, to Feb. 29, 1888, was adjusted . dlfflculty the over the Pennsylvania Railroad. H. G. Davis, President. gross ea rntngs were $335,934 ; net, $114,679; surplll8 over interest, Pine Cree.k.-StokesdaleJunction to~ewberry Junction, Pa., on the about $18,679. Corning C. & A. Road, 75 miles. Formerly Jersey Shore Pine Creek & Buft. Pittsburg & Connellsvllle.-Owns from Pittsburg, • Pa., to RR. It is o:r,erated by the Fall Drook Coal Co., and forms a connection between Philadelphia & Reading lines and N. Y. Central, and bonds a re Mt.SavageJunc., Md., 147 miles; branch, 2miles; lea.sedlinea, 22 miles; guaranteed by these companies and the Corning C. & A., on the condi• total. 17l miles. Leased for 50 yea.is from Jan. 1, 1876 (renewable f;lon that guarantors shall advance money for interest if needed and forever ), to the Balt . & Ohio R ailroad. The <}Onsolidatert sterling mort-.ire 2d mortgage bonds for such advances. Stock $1,000,000; par $50. gage is guara nteed by the Baltimore & Ohio, enough bonds being reftock iw.d bonds were largely h eld by Mr. W. H. Vanderbilt. Gross ea rn- served to reti re the prior bonds. Road operated as the Pittsburg lnge in 1886, $4i0,188: net, $121,536; r ent of road, $141,056; deficit, Division of the Baltimore & Ohio RR. In 1884 the Balt. & Ohio issueel $19,520. In 1887, gross, $612,844; net, $228,612; rental to P. u., its bonds for $10,000,000 secured by pledge of the above 2d consolidated m ortgage of t he Pittsburg & Connellsville RR. Stock is $1,944,400; $187,777; surplu.s, $40,835. $ 50 . ln year ending Sept. 30, 1888, gross earnings were $2,544,Plttsbur" Cincinnati & St. Louls.-Owns from Pittsburg, Pa.., par, . 969; net , $ 8 40,404 ; loss to lessee, $387,456. t,o Columbus, Ohio, 191 uiles; branches, 15 miles; total, 206 miles• This wrs a consolidation of several companies, May 1, 1868, in Pitts bu rg Port Wayne & Chleago.-Owna from Pittsburg, Pa,. eluding tht Steuben ville & lndiana and the Pan Handle roads. This com to Chicago, ill., and br anch, 470 milefl. Made default Oct .·1, 1857, and pany is controlled by t he Penn. Company, through the ownership of a again in 1859, and was foreclosed Oct. 24, 1861, and reorgamsed under Jn.ajority of lts st oc.1r. Th e P. C. & St. L. al.so has leases of t h e Little Miami t his title Feb. 26, 1862. On June 27, 1869, the company l eased all its and its dep endencies . Common stock , $2,508,000; first nref. $ 2,929,200; road in perp etuity to the P enn. RR at a. r ental eq nivalent to interest, second preferred, $3,000,000; p ar v alu e of shares, $50. P enn. R R. sinking fund of debt, and 7 p er cent on $19,714,286 stock , which was owns $3,000 ,0 00 .l'ref. st ock . Authorized a m ount of 1st m ort. $ 10,000,- i ncreased at that ·61me from $11,500,000. The lease was t r ansferred 000, of w hich $3,137,000 reserved. Th e Co. is liable f or f 262,500 Cinn. supsequently t o the P ennsylvania Oompany. The lessees are 1lo keep Other receipts. ... . ........ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 122,373 146,378 154,788 J.UVilY, 1881.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. IN MAP OF THE PITTSBURG,· SHENANGO AND LAKE ERIE R. R. AND . CONNECTIONS. :Homen 106 ;-· · INVESTORS' SUPPLEMENT [VoL, nvm: SUbaerlben will conCer a great favor by g-lvtng lnlmedlate notice oC any error dl•covered In theae TablM. JJ01U.ls-.£-rin01• INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or Amount paJ,When Due. of Par For explanation or column headings, &o., see notes of Rate per When Where P~able., and by 8tock8-Laat om. Road. Bonds Value. Outstanding Cent. Paya.bl~ on first page of tables. Dividend. Pittsburg You~gstmon t! Ashtnbula-Pref. Stock..... Lawrence RR., 1st mortgage ...••..••...........•. Ashtabula & Pittsburg, 1st mort ..••....•..... c & r New mort. (for $4,000,000), s. f. 1 p. c., not dr.o* Port H'/;(,ron cf Northwestern-lat mortgage .....••. c Consolidated mortiage .•....•....•............•... c Port Jervis Monticel o t! N. Y.-1,;t M. ($10,000 p.m.) Port:Royalt!.A.ugusta--lstM.,s.f.,$LO,OOO,dr.atllO.c 2d mort., endorsed by Central Ga., s. f. $6,000 . c General mortgage income bonds, coup ....•...... o Port Royal t! West Oarol.- C'on. M., s.f., red. at 110.o* Augusta & Knoxville mortgage .................. c • Portland cf Ogdensb.-lat m. g., int. guar. M. Cent.. c Consol. mort. $20.000 p. m. (~uar. Maine Cent.) c Portland cf Rochester-Stock ($ 00,000) ..........•. Portland Sawd Portsmouth-Stock (gu.ar by rental) Portland t! Willamette Val.-lst M., g.,red.atl05.c* Portsmouth&: Dover--Stock, 6 p. c. guar. East. Mass. Port,. Gt. Faltsd Oon.-Stook,gu. same div. as East.. 1st mortgage ......•.......•.................•..... c Prescott ti .A.1·izona-First mort., gold, eink. fund .. c 2d mortgage, incomes ........•..................•. . ~=:~: ,~:!k;~\~k~~~-~--~:?~-~~~: 1 .~~ 1st mortgage ..................................... c · Quincy <.;mah.a <t Kan. 0.-Pref. 1st mort .......... 1st mortgage .••......•........• . ................... Raleigh t! Augusta-lstmori., funding coup ..•.. . c* Ral,e:igh cf Gaston-lat mortgage .................. . c Reaaing cf Oolumbia--lat mort., (extended) ...... c* 2d mortga.11:e. coupon (extended in 1884) ......... c Debentures ............•..••...............•• . .... c Lan.& Read., 1st M ..... ........................... -128 - --- - -$50 17 62 122 218 218 10 112 112 2"ii9 68 60 0 53 51 30 11 73 73 73 73 23 51 51 134 134 "97 40 40 0 15 i865 1,000 1,000 1,000 1878 1887 1879 1882 1887 1:000 1878 100 &c. 500 1882 1878 lOO&c. 1,000 1887 500 1880 1870 500 &c. 1,000 1888 100 .... 100 ise6 1,000 100 .... 100 is11 500 &c. 1,000 1886 1,000 1886 1,000 1872 100 is11 1,0 0 1,000 1887 1,000 1887 1,000 1 P86 1,000 1873 1862 lOO&c. 1.000 1864 1,000 1877 1873 100 &c. ·-·· $1,700,000 310,000 1,500,000 1,3 25,000 755,000 920,000 121,000 250,000 112,000 1,500,000 2,143.000 630,000 800,000 f:>00,000 591,970 1,500,000 400,000 769,000 1,150,300 1,000,000 775,000 775,000 500,000 3,000,000 1.242.000 250,000 1,489,240 1,000,000 1,000,000 650,000 350.000 1,000,000 350,000 - -312- -M. &B. N.Y., Farm. L. & Tr. Co. F. &A. N. Y., Winslow, L. &Co F. & A. Phil., Fid. I.T. & S.D.Co. M.&N. N.Y., Farm. L. &Tr. Co A. dz: 0. N. Y., First Nat. Ban.K M.& S. do do York Agency . ..6. J. .&.J. N.New Y., Mer. Nat. Bank do J. & J. do 6 J. & J. do do 6 M.&N. N. Y., Mer. Nat. Bank 6 J. & J. do do 7 6 g. J. & J. Portland, Me. Cent. RR. M.&N. Bostm1, Agency 5 Portland. J. & J. 3 J. & J. Bost., Eastern RR. Co. 3 7 g. J. & J, N. Y., Farm. L. & Tr. Co. J. & J. Portsmoutn, Treas, 3 Bost., Eastern RR. Co. 4¼ 41.g J. "&°i:>. P.oston, Mass., Nat. Bk. 6 g. J. & J. N.Y., Office, 42 Wall St. None paid. 6 J ..&.J. Providence,Am.Nat.Bk. 7 21g Q,-M. Providence, Office. A.. & o. Prov. R. I. Hosp. Tr. Co. 6 J. & D. N. Y., John Paton & Co. 5 J. & D. do 3,4,5 do J. & J. Balt-.& Phil. N'lMech. Bk. 6 J. & J. Balt.&Phil.N'lMe ch.Bk. 8 Phila., Co.'s Office. M.& 8 . 5 do .J . &D. do 5 Last paid D ec., 1879. 6 Phil. Co's Office. J. ·:f J. 7 7 6 5 7 6 Sept. ~ 5, 1888Aug. 1, 1895 Aug. 1, 1908 Nov. 1, 1927' Octl. 1, 1899 Mar. 1, 1922 Dec.1, 1927' Jan. 1, 1899 July, 1898 Jan. 1, 1899 May 1, 1937 July 1, 1900 July 1, 1900 Nov. 1, 1908Jan. 15, 1889 Jan. 16,1889 Jan. 1, 1906 Jan. 1, 1889· Dec. 15, !587 June 1, 1937 Jan. 2. 1916 Jan. 2, 1916 July 1, 1892 Dec. 31, 1888Oct. 1, 1897 Dec. 1, 1917 Dec. 1,1917 Jan., 1926 Jan.1, 1898 Moh. 1, 1912 June 1, 1904. Dec. 1, 1917 July 1, 1893 the road in repair and also pay taxes, expenses, &c. The rental and common and all the pref erred. Voting power of stock will be exerJised int~rest charge Is about $3,159,000 per year, and the profit to lessees has been larg~. The Pitts. Ft. Wayne & Chic. leases the Newcastle & Beaver Val., w.hichin 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 and September; on "D" it is April and October; on "E" it is May and Nov., and on "F" it is June and December. The second mort~a~e is also in 81x series of $860,000 each, lettered G to M inclusive (J onutted), and the Interest is payable Jan. and July on "G" series, Feb. and Aug. on " H," March and Sept. on "I," April and Oct. on "K," May and Nov. on "L," and June and Dec. on "M.'' Lessee pays $104,100 yearly to sink. fund, and if bonds cannot be purchased, funds accumulate. ·Of the above 1st mortgage bonds, $1,684,500.., a.nil of the 2d mortgage $2,018,500, and $1,029,853 cash, were hela 1n the sinklng funds Jan. 1, 1888. The 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 were autllorized for same purpose, but not yet issued. Earnings for three years pa.st ~howed in 1885 groes, $8,237,156; in 1886, $9,116,311; in 1887, $11,269,953. Net revenue 1885, $2,411,451; 1886, $3,080,399; 1887, $3,959,229.-(V. 46, p. 538; V. 47, p. 709.) Pittsburg .Junctlon.-From Monongahela River to Allegheny River, Pittsburg, Pa., 414 m., incl. side tracks and branches, Built under auspices of B. & O. and Pittsb. & West., which Co.'s made a.n 8@:'eement to pay $2 for each car, and guar. (separately) a minimum of $240,000 per annum. In '86 gross earn's $176,000 and net $140,090. In '87 gross $182,050; net $140,941; surp. over fixed charges, $38,626. Com. stock ls $960,000; pref., $480,000; par $50. Div's paid as earned. Pltt•burg & Lake Erle.-Owns from Pittsburg, Pa., to Youngstown, Ohio, 68 m.; branch line to Newcastle, Pa., 3 m.; total owned, 71 m.; leases from Ja.n. 1, '84, for 99 years, the Pitts. McK. & Yough. RR., Pittsburg to New Haven, Pa., 57 m., with branches, 8 m .; total operated, 136 m. Scrip certificates for $615,000, bearing 6 p. c. tnt. and payable at will, are a.lso outstanding, and the temporary loans, &c., additional amounted Dec. 31 ,'87, to $8t 5 705. This Co. is managed in the interest of Lake Sh. & Mich. So., which owns $2,141,111 stock. The stock was put in trust, but the Vanaerbiltinterest was allowed to vote and control the road; see V. 45, p. 540. It is proposed to issue new bonds for double track, etc. In '87, gross f arnings, $2,452,194; net $790,419 : aurp. over fixed ch'ges, $242,205; divs. paid (6 p. <'. l, $123,0UO. Jno. Newell, Pres't, Cleveland, o. (V. 4.5, p. 540,673; V. 46, p. 826; V. 48, p. 38.) PUt ■burg .McKeesport & Youghlogheny.-Owns lrom Pittsburg to New Haven, Pa., 57 miles; branches, 8 miles; total, 65 miles. ~oad opened Nov., 1883, and leased to Pittsb. & Lake Erie RR. for 99 ;y-eare, 6 per cent on the $3,100,000 stoek and principal and interest of Ille bonds being guar. by P. & L. Erie and Lake Shore & M. Bo. Cos., the guaranteeti being endo1·sed on the sliare certificates and bonds. Gross earnings 1n 1887, $891,816; net, $500,111; surplus over interest, &o., fl82,614. Stock, $3,100,000; par $50. W. C.Quincy, President, Pittsburg, Pa. PUt ■burg Painesville & Falrport.-0wns from Fairport. 0., to Youngstown, 0., 63 miles. Oct. 7, 1886, leased to the Pittsburg & Western the 52 miles from Fairport to Niles, and in 1887 the remainder of the road was leased in perpetuity to the Trumbull & Mahoning, wbich is controlled by Pi tts. & Western, rental being commutf>d in advance. Operated at cost, but interest of bonds is guaranteed. Tho Painesville & Mahoning RR. was sold in foreclosure June 3, 1886,and P. P. &F. Co. organized. Com. stock, $800,000; pref., $250,000; par $50. In year ending June 30, 1888, gross earnings were $245,995; net $95,357. (Vol. 47, p. 664.) Pittsburg Shenango & Lake Erle.-(See Map)-Owns from Htlliards to Amass Junction, with branches, 66 m. uni' er construction; Greenville to Stare line, 45 m.; State line to Harbor, 4 m.; total, 111 m. Reor1anized Feb. 10, 1888. The mortg. of '88 retired $1,200,000 old bonds, r•aid debts of $300,000, and provided for extension from Greenville to Conneaut. 0., with branches and equipment. Stock was to be $2,900,000, par $100, but injunction a11:ainst its issue was granted in Dec., ] 888. (See V. 4.7, p. 800.) From Feb. 10 to June 30, 1888, gross earningswere$80,849; net $30,822. {V. 47, p. 594, 70~, 803.J Pltt•burg Virginia & 0harleston.-From South Pittsburg, Pa.• to Uniontown, etc., Pa., 75 miles. The stock is $1,505,000; par $50. The bonds and $1,251,050 of the stock are owned by the Penn. RR., -which pays net earnin~s as rental. Gross earnings, 1886, $629,104; net, $252,232. In lti&7, gross, $656,137; net over taxes, &c., $1.92,267; spent for betterments, $84,C90; dividends (212 per cent, A. & 0.), 5 per cent. Dividends are paid as earned. Pittsburg & We ■tern.-(See Map)-Owns from Alleghany City, Pa., to New CJastle, Pa., 64 miles; Callery Juno. to Mt. Jewet", 137 m.; Duck 1-.un Branch, 3 m.; Clarion Branch, 6 m.; other branches, 2 miles; total owned, 212 milfls. Leases for 99 years P. C. & Tol., New Castle Junction, Pa., to Valley Junction, 0., 77 miles, and the Pitts. Paines. & Fairport RR., Niles to Fairport, in Ohio, 54 miles; and uses 26 miles of Cl. Mt. V. & Del. RR., A.Kron, O., to Orville, O.; also owns entire stock of Truro. & Mahoning RR.; Hazleton to Niles, 0., 15 miles; and of Pitts. Northern., 4 miles; total operated, 398 miles. Sold in foreclosure June 8, 1887, and boup:ht by tbe N. Y. committee; new company organized June 25 according to plan in CHRONICLE, V. 44, Jl. 3, o. Stock authorized is, common, $7,000,000, and preferred, $5,000,000, 5 -per ct. non-cumnla.tive; both 1n $50 shares; outstanding Dec., 1887, $6,975,000 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Wl Jan. 1, 1892, by J. Pierpont Morgan, J. L. Welsh and James Callery. For abstract of mortgage (trustee, Mere. Tr. Co.) see V. 4 5, p. 439. rn. !! ddition to tl'e al1ove indebtedness there were outstanding Feb.29, '88, real estate m ort gag-es for $175,935, and car trusts $310,269. From July 1, '88, to Nov. 30, '88 !5 mos.), gross earnings wue $948,230, against $946,466 in 1887; net $234,089, against $272,311. In year ending June 30, '88, gross earnini;s were $2,023,376, net $542,289; surp. over int., $140,~ 89. Pres., Jas. Callery, Alleghany City, Pa. ; v.-Pres ... .A. J. Thomas, N. Y. (V. 45, p. 26, 113, 439. 614, 705, 743, 820, 887; v. 46, p. 171,255,289,510,610; v. 47, p. 140, 745.) Pittsburg Youngstown & A•htabula.-o·w ns Kenwood, Pa., to Wampum June., Pa., 13 miles (operates Wampum Juno to Lawrenr.e Juno .. 6 milet-); Lawrence June., Pa., to Ashtabula, 0., 80 miles; Niles to Alliance June., O., 25 miles; Canfield Branch, 4 mile~; total o~ned, 122 miles; total operated, 128 miles. In July, 1887, this organization was made by consolidation of the Ashtabula. & Pittsburg and other roads. Leased from Dec. 12, '87, to Penn. Oo. Stock outstanding: com., $1,333,342, and pref., $1,700,000; both in $50 shares. Bonds of 1887 (trustee, Farmers' L. & Tr. Co.) are reserved to retire divisional bonds. A sinking fund or l per cent retires bonds of '87 at par, otherwise payments lapse. From Jan. 1 to June 30, '88 (6 mos.), gross earnings $472.218; net $161,049; surp. over int., $81,148. In'87,gross earnings $986,394; net $4a2,080; surp. overftx:ed charges, $221,000; out ot which paid dividend $50,000.-(V, -15, p. 112; V. 46, p.173 191, 481, 538; V. 47, p. 140.) Port Huron & Northwestern.-Port Huron, Mich., to East Saginaw, Mich., 91 miles; Saginaw Junction to Sand Beach, 58; Port Au.still to Palms, 35 ; Port Huron to Almont, 34; total, 218 miles. There is also an equipment mortgage of $135,000. In '87 gross,. $328,066; net$114,308, def. under fixed charges, $136,857. John P. Sanborn, President, Port Huron, Mich-(V. 45, p. 696.) Port .Je1·vis Monticello & N. Y.-Owns from Port Jervis, N. Y., to Monticello, N. Y., 24 miles. Was sold in foreclosure July 16, 1875, and again sold out jn Nov. 1886, a.nd then reorganized under present title. Extension Hu~uenot to Summitville in progress to connect there with the Pougbkeeps1e & Delaware Valley road to extend thence to the Poughkeepsie Bridge. The whole issue of bonds on old road and extension to Summitv'e will be about $500,000. H. R. Low, Middletown, Pres. .Port ·R oyal & Angusta.-0wns from Port Royal, S. C., to Augueta, Ga .. 112 miles. Formerly Port Royal RR. Bold in foreclosure June. 6, 1878, and bondholders organized this Co. The Georgia RR. was endorser on $500,000 of the old bonds. The stock is $750,000, par $100, and in June, '81, a controling interest was purchased by Cent. Ga-. RR. parties. Of the above inc. bonds $920,700 are owned .by that Co. In year endin~ June 30, '87, gross earn's were $316,304; net, $42.897; surplus over interest and sinking fund, $5,177. Gross in 1887-88, $:~91,710: ntt, $51,191. (V. 45, p. 696.) .Port Royal & West Carollna ..-Owns Augusta, Ga., to Soartanburg, S. u., Laurens to GreenviUe, S. C., and McCormick to Anaerson, s. c., 229 miles. A consolidation of the Aug. & Knoxv., Greenwood Laurens & Spart., Sav. Val. and Greenv. & Laurens in 1886 with com. stock of $1,234,000 and 6 p. c. non-cumulative pref. stock $184,000. The mortgage is for $2,500,000. Central RR. of Ga. owns $1,684,000 of the above oonds, $694.,000 com. stock and all the pref. In year ending June 30, '87, gross $273,446; net, $13,177; def. under int., $32,884. Cn '87-88, gross $292,915: net $68.462. See V. 45, p. 643. Portland & O,;;densbnrg.-0wns from Portland Me., to Fabyan~ 91 m. In June, '86, after foreclosure this Co. was reorganized as the P. &O. Railway. The city of Portland owns $2,200,500 of the $4,237,036 stock (par $100). Leased from Aug. 30, '88, for 999 years to Maine Central for Interest on bonds and 1 per cent pn stock till Aug. 30, '91,. and 2 per cent thereafter. The consol. mort. (Boston Safe Deposit & Trust Co .• trustee;, was issued in 1888, to extend the road to a conpection with the St. Johnsbury & Lake Champlain, $800,000 bei..I\g reserved to pay off 1st mort., and bonds bein~ guaranteed, principal and interest, by Maine Central.-(,V. 4.5, p. 743; V. 46, p. 102,573; v. 47, p. 50, 161, 278.) .Portland & Rochester.-0wns from Portland, Me., to Rooheet,er, N. H., 53 m. By a settltment in '81 all the old stock and bonds were con• verted into the stock of the new Co., out of which the Bost. & Me. owns $300,000. Dividen<l.s si:nce 1883 have been: In 1884 ail.d 1885, 4 per cent; in 1886, 5: in 1887 and 1888, 6 per cent; in 1889 to date. 3. In year ending Sept. 30, '88, gross earn'@, $204,939; net, $H,306; surplus over 6 per cent dividend, $5,849. (V. 47 1 p. '744.) Portland Saco & Portsmouth.--Portla.nd, Me., to Portsmoutb• N. H., 51 miles. It was leased May 4, 1871, in perpetuity to the Eastern Railroad, Mass., at 10 per cent on stock. Lease rental changed May 21, 1877, and now 6 per cent. The Boston & Maine Railroad leased the Eastern in 1884 with all its leased roads till 1937. .Portland &Willamette Valley.-Lineof roa.dlrom Portland Or., to Dundee, 28 m., and branches 5 milefl .. Connects with Oreg. RR., witb which it has a freight contract for 15 years. Bonds may be re• deemed at 105. Stock. $150,000. Portsmouth & Dover.-Portsmouth, N. H., to Dover, N. H., 11 miles. Opened February 1, 1874, and leased for 50 years to Eastem of New Hampshire at 6 per cent per annum on the stock. Operated now bv Eastern (Mass.) Frank Jones, President, Portsmouth, N. H. Port.smonth Great Falls & Con-w:ay.-0wns from Conway Junction, Me., to North Conway, N. H., 73 miles. The Ea.stern Railroad in Massachusetts ha.a Jeased the road for 60 yeamt from Dec. 1. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE TSBURG & WESTERN . & CONNECTIONS. PITRAILWAY - INVESTORS' SUPPLEMENT. 108 L-YoL XLVII. er■ wlll conf'er a creat Cavor by ,:tvtng bnmedlate notice oC any error d18covered In the■e Table-. Bonds-Prino1 DESCRIPTION. INTEREST OR;DIVIDENDS. Miles Date Size, or Due. Amount R ate p er When Where P~able, and by t>al,When of Par Outstanding For explanation of column headings, &c., see notes of Stocks-Last Road. Bonds Value. on first page of tables. Cent. Payable om. Dividend. Subscrl llemselaer ff Sara.-Stock, 8/· c. guar. Del.& H.Can. --- - - --- 1st mortgage. consolidate (for $2,000,000) .. c*&r Riehmond fl Atleghany-lst mortgage, gold . • •. .••. Second mortgage, gold........ . ..... • .......• . Bkn.ff Danv.-St'k($4,261,000 owned by R .&W. P.) 3d mort. (consol. of 1867) ..... . . . .. . ............ .. General mortgage, gold .... . ••.... .... .•........... Debenture mortgage bonds, cumulativ e ........... Consol.M. ($1 5,0CO p. m.),$or£ ($14,500,000)c" Equipmen Trust bonds....... . . . . . . ....... . ...• . Northwestern, N. C., 1st m . ($15,000 p. m.),g.gu.o Richmond York River & rn1es., 1st mortgage .•..• do do 2d mortgage . ..... do do Stock guar. 6 p. ct Wash. Ohio & Western-1st mort., guar .......... Oxford & Clarksville, 1st M., $15,000 p . m .... . . c Bich,.:bred.d. Pot.-St'k, com. ($1,071,lOOdiv.oblip;.) Stock, guar. 7 p . c., except $19,300 guar. 6 p. c.}. Convertible bonds .... . ................. . ........... Coupon bonds of 1890 .................. .. .......... • Coup b'ds of 1901 ($57,327 are ~spay.in London.) f 195 79 252 252 141 141 .... .... '34 38 38 52 50 82 82 .... ··-· ...... 25 25 <;onsol. mortgage ($50,001) are 7s) ......... . ...... Richmond d West Pt. Ter. R. tf W. Oo.-Stock ...•... 6,869 Preferred 5 per cent stock, cumulative ..• . ..•..... ···Collateral trust bonds,fld (payable at 105) .... c• Roch.fl GeneseeVal.-Stoc , 6% rental N.Y.L.E.& W. Rock Island, d Peoria-Stock ...•...•...•......••..... 113 91 1st mortga~e ..• . .........•..••.• • ..•.......•.... . r Consol. 1st mortgage .••..••................•...... r 113 Rome cf Decatur-1st mort., go1d ($15,000 p. m .) ... 35 Borne Wate1·to-um d Ogdensburg-l::3tock .. ........... 643 97 1st M.,Wat.& R.,Rome to Cape Vin., s.f. not dr'n.c" Bichmond ff Petersburg-Stock ..• . ...••...•..••..•• . is7i 1880 1881 . . . .... 1867 1874 1882 1886 H89 1888 1873 1880 $100 1,000 1,000 1,000 $8,442,400 1,925,000 4,982,000 4,000,000 5,000,000 lOO&c. 604,700 1,000 5,369,000 1,000 3,551,000 1,000 2,227,520 (1) - -4 - J. 7 7 6 5 6 6 6 5 & J. N.Y., Del.&H.CanalCo. Jan. 2, 1889 M &N. do Nov., 1921 do g. J. & J . Last pa.id Jan., 1883. July 1, 1920 g. M.&N. Last paid Nov., 1882. May 1, 1916 Jan. 2, 1 889 M.'&..N . N. Y. Office, 2 Wall St. May 1, 1890 g . J. & J. Jan. l, 1915 do do April 1, 1927 A. & O. do do g. A. & O. do Oct.1, l936 do ..6.g. 500,000 400,000 8 500,000 6 500,000 3 i884 1,000,000 4 744,0UO 6 g. 1887 1:000 2 ,101,200 100 319 -.... 100 500,400 319 172,720 5, 6, 7 isfo .... 150,000 8 357,:3 27 5 g. & 6 ·ioo 1,000,000 319 is15 500 &c. 384,000 6&7 100 40,000,000 .... ..2¼ 100 5,000,000 1,000 6,359,000 6 g. 100 555,200 .... 3 1,500,000 219 150,000 i878 25:000 10 5,000 1885 450,000 6 1,000 1886 650,000 g. 100 6,230,100 417,800 1855 100 &c. 6 --· 1:000 1,000 1,000 100 .... ·-- · ..is iss1 g https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 M.'& N. do do do do no do Richmond, Office. do do do no Richmond & Phila. do do Richmond, Office. do do Jan . 2, 1889 19:M Nov. 1, ·1937 Jan. 1, 1889 Nov. 1, 1888 1895 & 1901 1890 1901 Jan. 1, 1889 May 1, 1916 J. & J. M.&N . J. & J. J. & J. M.&N. J. & J . M.&N. J ..&.. J. N. Y ., Office, 2 Wall St. Jan:·fo·.--i889 F. &A. do do Feb. 1,1897 J. & J. N.Y.,byN.Y.L.E.&W.Co Jan. 1, 1889 J. & J. N. Y., Corn Exch. Bank. Jan. 1, 1889 Jan.I, 1900 J. & J. do do Jan.l, 1925 J. & J . do do Dec, 1, 1926 J. & D. Nonepald. F. &A. N. Y. Office, o Pine St. Feb. 15,1889 M.& 8. N. Y., Central Trust Co. Sep t. 1, 1910 Ifor 99 years, but lease was enjoined. In Nov., 1888, the Georgia Paoiflo was leased. For whole system operated see K. & W. P. Terminal Co. 1878, with a guaranteed rental of $45,000 a year, which pays 419 per cent on $1,000,000 bonds, and the stock is to receive the same dividends as the stock of the lessees. Lessee■ own $551,300 stock. Pre•cott & Arizona Central.-Owns from Seligman on the .Atlantic & Pacific RR. to Prescott, .Al'izona., 73 m les. Stock, $1,· 200,000. central Trust co. of N. Y. is mortgage trustee. .Five p. c . of net earnings each year accumulates as a sinking fund; bonds purchased, not drawn, at 110. In 1888 11:ross earnings were $125,727; net, $77,025. T. s. Bullock President, 42 Wall St. • . ~rovldence & Sprlng:fl.eld.-Pr()Vldenc~, R. I., to Pascoag~ 2 3 miles. It was proposed to extend the road toS:~mngfield, Mass., 80miles. Stock le $517,450; ;par $100. In year ending Sept. 30, l887, gross earnings were $109,658; net, $43,~92. In 1887-8 gross earnings, $118,664; net, $48,459 i surplus over mterest, &c., $12,337. Providence & Worcester.-Owns from Providence, R. I., to Worcester, Mass., 44 miles; branches, 7 miles; total operated, 51 miles. In May, 1888, arran ged t o lease road to t heNewYork .Providence & Boston 1when legislative authority is obtained) for 99 years at 10 p ercent per annum on the stock, which is also to be increased $ 500,000 for terminal improvemen ts, &c. In 1886-7, gross earnings w ere $1.270,828; net, $438,977; surplus over interest and dividends (91t p. ct.),$107,~67. ' In 1887-~ gross earns. $1,397,601; net $402,620: surplus over ch a rges and 10 per cent divideLds, $49,054. (V. 46, p. 573; V. 47, p . 800.) Quincy Omaha & Kan. C.-Quincy to Trenton, Ill., 134 miles. Tb1s Company is successor to the Quincy Mo. & Pacific seld in forecloeureand reorganized. The st ock is$1,489,240 (par$100). (V.45,p. 856.) .Raleigh & A.ugusta.-Owns from Raleigh, N. C., to Hamlet, N. C., 98 miles; Hamlet to Gibson, 10 miles; leases Moncure to Pittsboro, 10 miles: Cameron to Carthage 12 miles; total, 130 miles. Formerly Cha tham Railroad, now controlled by Raleigh & Gaston (which owns m r-s t ot the stock and bonds) and 110 by Seaboard & Roanoke. Stock is $ 873,000; par $100. In y ear ending Sept. 30, 1887, gross earnings, $240,169; net, $64,010: 1887-P, gross, $241,987; nE;t, $88,978; surplus over interest, &c., $28,977. Haleigh & Ga•ton.-Owns Raleigh to Weldon, N. C.. 98 miles and Louisburg branch 10 miles. Controls R aleigh & August.. RR., 108 miles, and has large interest in Durham & Northern RR, under construction from Durham to Henderson, N. C., 42 miles; a. ad with Seaboard & Roanoke controls Carolina Central. This road 18 controlled by Seaboard &Roanoke Stock, $1,500,000; par $100. Semi-annu~l dividends of 2 p. c. are -paid a.t Raleigh, N. 0., April 1 and October 1. Gross earnings year ending Sept. 3u, 1887, $'166.226; n et $142,906; adding other receipts, $206,700. Gross in 1887-8, $469,458; net (including other r eceipt;t,), $286,815 ; surplus over interest and 4 per cent dividend, $146,815. John M. Robinson, Pres't, Baltimore. · Beading & ColUDlbla.-Owns from Columbia-to Sinking Springs, Pa.., 40 wiles; branches, 16 miles; Lancaster & Reading Railroad, leased, 15 miles; operates Marietta Junction to Chickies, 6 miles; tota1 onerated, 77 miles. Stock, $958,268; par $ 50. The road is controlled and operated by Phil. & Reading (which holds the above debentures}, but accounts kept separate. In ending Nov. 30, 1887, gross earnings were $354,038; net, $84,85 ; deficit under charges, $25,146. Bena11elaer & Saratoga.-Owns Troy to Ballston. N. Y., 26 miles; ~tehall, N. Y. to Vermon1i line, 7 miles; Eagle Bridge to Rutland, Vt., 62 miles ; Saratoga to Whitehall, 39 milee; branch, 3 ruiles-total owned, 13-7 miles. Leases: Albany to Waterford June.. 12 miles; Saratoga to Schenectady, 22 miles; Fort Edward to Caldwell, 14 m.; other branchefl, 10 m.-total leased, 58 miles; total operated, 195 miles. Leased in perpetuity to the Delaware & Hudson Canal Co. March 1, 1871, at a rental of 8 per cent on th~ stock and interest on the bonds. In 1887-88, gross earnings, $2,449,702; net, $790,387; deficit llll.der ftxedcl111rges, dividends, etc., $176,357. (V. 47, p. 140, 776.) Blcb.m.ond & A.lleghany.-(SeeMapo.f Ohes. cf Ohio )-Ownsfrom Richmond to Clifton Forge, 2& 1 miles ; branch to Lexington, 19 miles ; leased, Buckingham RR., New Canton to Arvon, 4 miles; Valley RR. con nection, 2 miles; total, 256 miles. June 23,'83, receivers were appointed. In June, 1888, a consolidation with Chesapeake & Ohio was p roposed, and Sept. 1 operation of the road was assumed by Chesap. & Ohio, but accounts to be kept separate unt il the i;rrangement should be finally eettled. The 1st mort. bonds with :i ll overdue co upons take new $1,000 first mortg. bonds bearing 2 p er cent i nte res t for :tive years and 4 per cen t for 95 years. The R. & .A. 2d mortg. bond~ take new fi rsts for :t 250 Dearing 2 per cent for one y ea r, 3 per cent for one ye ar and 4 f1 ,r 88 yea.re; ~o $125 in Income bond1,1 and $ 625 in new Ches. & O. common stock. R. & D. stock having p aid 10 p er cent a ssessment t akes new Ches. & 0. stock for 70 per cent of its face value and u. & O. 1st pref. ■tock for tbe assessment. ee e CHRONICLE V. 47, p. 199,382. A decree of foreclosure was made D ec. 19, the p roperty to be sold after 90 days. -(V,45,p. '791; V.46,p.481,802;V.47,p.81, 199,382, 7-15, 776.) Richmond & Danvtlle.-(See Map Rich. fl W. P. Term.)-The main line 18 from Richmond, Va., to Danville, Va., 141 miles; branches, 12 miles: Danville, Va., to Greensboro, N. C., 4 7 miles; Salem Junction, t,o Salem, 25 miles. The Virginia l\lidland !tR., Colombia & Greenville, Charlotte Columbia & Augusta, and Western North Carolina a.re leasfld for 99 veara. Tl10 Piedmont RR. 1.s virtually owned, also the N orthwestem North Carolina.. The Rieb. York R.& Chesapeak.e ill leased 1n perpetuity. It was proposed in 1888 to leaae the Eas, Tenn.Va, & Ga. zear A ..&..o. N. Y. Office, 2 Wall St. Aprii'Ci938 Jan. 1, 1894. do do Nov. 1, 1900 do do J. & J. M.&N. J. &J In Feb., 1887, the R. & D. stock was mostly exchanged for Terminal in the proportion of four shares of Terminal f01: one of Rieb. & Danville• The mtereston the Debenture bcndo was strictly cumulative an<l in ex chang~ for the overdue coupons new consol. mon;. 5 per cent gold bonds were glVt-n. _Of t he consol. mort. bonds of 1936 $10.720,000 were reserved ~o retire tne general mort. 6s of 1915 and t~e debentl_lree. Of the Ox. & uia:r:kes. 6s due 1937 $264,000 hav:e prlnmpal and interest and $480,000 mter~st only guaranteed by Rich . & Dan. In 18 !S9 endorsed the bonds of the Georgia Co . There are $111,000 Clarkesv. & No. Car. 6s (M. & N.), guar. dne Nov., 1937. Dividends sin ce 1876 bave been: In 1881, 5 per cent; in 1882, 7; in 1887, 3; in 1888, 5; in 1889 to date, 5. From Oct . 1, 1887, to Sept. 30 in 1888 (12 mo!'.) , gross earnings were $4,718,928, against $4,299,662 in 1886-7; net, $2,216,476, against. $1.· 983,827. The annual report for the year end.lug Sent. 30, 1888, was publ.tahed In the CHRONICLE, V. 47, p. 707, containing-the following: INCOME ACCOUNT. 1884-85. 1 885-86. 1886-87. 1887-88. $ $ $ $ Total receipts ............. 3,99;.J,147 4,01 2,028 4,355,161 4, ~69,825 Net receipts . .•.• . .. .. ...•. 1,767,6 61 1,890,475 2 ,067.304 2,329,774 Rentals and interestt ...•. 1,483,097 1,467,658 1,482,518 1,576,278 -- -Balance . .. . ..... . .. ... . 284,564 4 22,817 753,496 584,786 Construction, equipment. betterments, &c . .... .•. . 221,0-17 323,95 8 249,922 Balance, surplus... . ...... 63 ,517 9 8,859 334,864 753,496 ~ u ded in operating expenRes in 1887-8 ~. f Including de benture interest. whether paid or not. -(V.46,p.100,539, 574,699,828; V. 47, p. 81,161,410,472, 531, 664, 690, '70'7.) Hlchlllond Frederlck11hurg & Potomac.-Owna from Richmond, Va., to Quantico, 80 miles; lt:ases Q t1antico to Junction 2 miles. There are $33,;j63 7 .Per ceTit debt certii1loaws due in 1899, and $53,6 l2 5 per cent certl:ticates due in 1901 and 1902. Dividends of 7 per cent paid on common stock in 1888. In 18o7·86 gross earnings, $ ti08,834; net, $236,826; interest, &c., $82,206; sur., $154;620. (V. 47, p. 626.) Richmond & Peter11burg.-Owns from R1chmon<1. 1iO .l:'eoo:rsburg. Va.., 23 miles; branch, 2 miles; total, 25 miles. The road has earned moderate dividends and the debt account is very small. From Oct. 1 to Nov. 30, H88 (2 mos.), gross earnings were $48,524, against $3~,497 in 188, ; net $22,745, against $19,88\1. lo. year ending Septi. 30, 1888, gross earnings were $i54,164; net, $85,416; total, net income, $98,185; surplus over Interest and dividends (7 per cent), $3,393. (V, 45, p. 7::13; v. 47, p. 626.) Klch.m.ond & West Point Terllllnal Railway & Ware• hon•e Co.-(See Map.)-:-The mileage controlled and operated 1n Nov., 1887, was as follows: RICHMOND & DANVILLE BYSTEM.-Rlchmond & Danville and Piedmon, RR . . and branches, 274 miles; Richrrfd York River & Ches. RR., 3U m.; Northwestern No. Carolina RR., ~5 m.; No. Carolina RR. and Sta.tie Uni• versi ty RR., 2::l2 m.; Atlanta & Charlotte Air Liue R'wa.y and branches. 288 m.; Virginia Midland R'way, 413 m.; Wash'n Ohio & West'nRR., 50 m.; WesL'n No. Car. RR., 290 m.; Char. Col. & Aug. RR. and leased lines, 373 m.; Col. & Greenv. RR., leased lines and branches, 29ti m.; Asheville & Spartanburg RR., 70 m.; Knoxv. & Aui. RR., 16 m.; Rich. & Mecklenburg RR., 31 m.; Georgia Pac. R'way, 51.6 m .; Northeastern RR. of Geor~ia. 60 m; Statesville & Western, 20 m.; Oxford & Henderson, 13 m.; rnarksvllle & Durham, 57 m.; total Richmond & Danville system, 3,063 miles. EAST TENNESSEE VIRGINIA & GEORGI.A. SYSTEH.-(See East Tenn. Virginia & Georgia for <tetails.)-Tota.1 East Tenn. t-ystem, 1,603 miles. CJJ..i-TRAL RR. OF GEORGLA. -(See thatCompa,t, y} 2,203 miles. GRAND TOT.AL OF .A.LL MILE.A.GE as per report Nov. 30, 1888 (including watt:r lines 500 miles), was 7,do9 miles. '£he Centra.i Georgia RR. & Ba.nkLDg Co. was brought into control of this Company in uct .• 1888, through tho purchase of the stock of the Gwrg i a Ournpany, which owned a. ruajority of the Central RR. stock. Bee v. 47, p. 49~. This company was incorporated by an act of the Legislature of Virginia of March 8, 1880. It was the auxiliary corporation 01 the Richmond & Danville RR. Uo., controlling several stock1:1 by ownerdhip of a majority. In November, 1886, the Termmal Ce. purchased a large major11iy ot the R. &D .RH.. stock. $5,000,000 of pref.Termin al stock was issued, secured by the deposit in trust of 25,000 shares of R. & D. atoc.k.; and af@rward the commou stock was inoreased t~ $-!0,000,01.10. The re.port in Nov., 1888 (V. 48, p. 742), showed that this company then owned the following securities (* indicaks pledg"d under the collateral trust mort.), viz.: Stocks-Of its own stock, $:.i3,000 pref. and$ '65,250 com.; also, $4,261,000 of Rich. & Danville RR. stock: $6,500,000 (*$6,000,000 pledged}, of E. Tenn. Va. & Ga.. 1st pref.; $2,6ll.6a0 Rich. & Danville Extension Co.; $~5,000 of Am. Construction Co.; $120,000 Northeastern RR. ot Georgia; $3,168,300 Western North Carolina BR. common and $3,168,300 pref.; $100,000 Knoxville & Au,rusta Railroad; $1,302,400 Charlotte -Columbia & Augusta RR.; $3,577,333 Virginia Midland Ra.ilwa:v (of which *.f3.100,000 vJedged); •$1,000,000 Oolumbta ,.0 ~ i:,j A ~~ '-) A ~ 00 ~ 0 0 E-4 00. A ~ 0 ~ H ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE RICHMOND & WEST POINT TERMINAL CO. SYSTEM LINES CONTROLLED 29rq; r,,ILES RICHMOND & DANVILLE SYSTEM 1578 EAST TENN. VA. & GA. TOTAL.__________________________ 4652 MILE8 110 INVESTORS' SUPPLEMENT. (VoL, XLVIII. Subscribers -will conCer a great f"avor by giving im10ediate notice of" anv error discovered In theie Tables. DESCRIPTION. For explanation of column headings, &c., see notes on first pag3 of tables. Borne W. cl Og.-(Oon'd)-lstM.,s.f. (2d M.on 91 m.) Bonds-PrinolINTEREST OR DIVIDENDS. Miles Date Size, or pal,When Due. Amount of of Par Outstanding Rate per When Where P~ble, and by Stocks-La.et Road. Bonda Value. Cent. Payable · om. Dividend ---· - - ---· 1861 $500&c. 190 2d mort. (3d mort. on 91 miles) ................. c-" 190 Consol. mort., (extended July, 1882, at 5 p. c.) .c' 409 Syracuse Northern, let mort. (gold) ............ c• 45 R. W. & Og. Term. RR. Co., stock, 6 p. c. rental .. 14 lat mo1t., guar ..............••..............•. c~ H Butlana-Stock, preferred ........•.......••.......•. 120 General mort. (8 per cent. reduced to 61 ...••..... c 120· 2d mort. in exch. for equipment bonds, &c ..... c 120 &uramen. cl Placer. -1st M. s. f. $20,000 not dr'n .. 48 IJaginaw Valley cl St. Louis.-lst mortg., coup ...... 36 St. Johnsbury cl L. Ohamplain-lst M.,coup. or reg. 120 Consolidated mortgage (for $1,000,000) ....•..... 120 /JI. Joseph d: Grand I.-lst M., g., int. guar. by U. P. 252 2d mortgage, income ...... . ..••.................... 252 Kan. C. & Om. RR. 1st M. ($15,000 p. m.), int. gu.c* 196 Bt. L·. Alt. cl Terre Haute-Pref. stock (7 cum.), con. 428 lat M. (series A)} sinking fund $25,000 yearly, 207 lstM. (series B) but bonds not drawn ...•••. o· 207 2d mortgage, preferred (series C) ..........•..••. c• 207 2d mortgage, :preferred (aeries D) ....•........• c* 207 2d mortNage, mcomes ..••...•..••.....•..•••.... o* .... Dividen bonds, income not cumulative ..•••...... Belleville & So. Ill.-lst M. (int.&s.f. g'r'd.) n. d.c· .56 Belleville & Carondelet,lst m.,Belle.toE. Caron . c* 17 Belleville & El Dorado-lat (int. guar) ..••..••... c 52 2d mortgage ........•.......................•..... 52 f3t. Louis Southern-1st M., gold, int. guar ....•. c* 33 2d mort~. income, non-cumulative ..........•. o* 33 ,Carbonda e & Shawneet'n-lst M.. e-., int. guar.c• 18 Chio. St. Louis & Paducah, lstmort:; ~old, guar.o* 47 2d mortgage, income (non-cumulative) ....... c* 47 Bl. Louis Ark. d: Tex.-lst M. ,gold ($13,000 p . m.).c* l,2i4 1872 1874 1871 1,000 1,000 1,000 1888 1:000 100 lOO&c. lOO&c. 1,000 1,000 1,000 1,000 1,000 1,000 500 &c. 100 1,000 500&0. 1,000 1,000 fiOO&c. .... i872 1878 1877 1872 1880 1884 1885 1885 1887 1862 1862 1862 1862 1862 1881 1866 1883 1880 1880 1886 18'36 1887 18"7 1887 1886 (ooo 1,000 ---· 1:000 1,000 1,000 1,000 1,000 1,000 & Greenville RR.; $250,000 pref. Blue Ridge & Atbntic; $12,000,000 Oeorgia Co.; $300,000 Richmond & Mecklenburg RR.; $4,378,432 Oeorgia Pac. Railroad; $1,500,000 Wash. 0 . & West.; $1,047,918 A..shevllle &. Spartanburg; $ 500,000 Statesville &Western RR.; $325,000 Oxford & Henderson RR.; $47,900 Green Construction Co.; other stocks, $299,100; and the following bcmds: $100,000 Knoxville & Augusta 1st mortgage 6 per cents; $215,000 Asheville & Spartanburg 2d mort. 6 per cents; *$1,325,000 Western North Carolina lat consol. mort. and •$4,110,000 2d mort.; *$955,908 Virginia Midland 5 per cent general mort,; $31?.tOOO Northeastern of Georgia general mort.; *$1,057,737 Georgia Pa.cine incomes; *$9 19,737 Georgia Pacific accrued coupons con. 2d mort. 5 .,,; $299,000 Blue Ridge RR.; $625,000 Wash. O. & West. 6 per cent income bonds; $195,000 Oxford & Henderson 6 per cent lat mort.; $300,000 Statesville & Western 1 st mort.; $160,000 Richmond & Mecklenburg 6 per cent 2d mort. Total securities owned as above, $10,665,· 382 oonds, $9,919,333 pref. stocks and $37,029,346 common stocks; grand total. $5;',614,061. Of these, $18,557,38~ (including those marked With a star) were deposited with the Central Trust Co. of N. Y. as security for the $8,500,000 of its collateral trust bonds outstanding; those bonrts maybe redecmPd on notice at any time at 105. See abstract of mortga1Ze, V. 45, p. 575. (The securities pledged have been changed materially since deed was made.-Bee above.) Dtvidends on preferred stock have been: In 1887, 212 per cent; in 1888, 5; in 1889 to date, 212. The prices or common stock have been: In 1881, 122@174½; in 1882, 23@263; in 1883, 21@:'1 9; in 1884, 1'2@32: in 1885. 1838@ 4314 ; in 1886, 27141t7714; in 1887, 2038@53; in 1888, 19 w29S4; in 1889 to Jan. 18, incl., 241s'a)25. Pref. in 1 887, 43@8712; in 1888, 55~8714; tn 1 ~89 to J a.n. 18, incl., 7812@8038. >-The annual report for year ending Nov. 30, 1888, w, s given in V. 48, p. 742. (V. 45, p. 575,821. 8 \ 7; V. 46, p. 449, 5U, 574, 57lJ, 699; V . -&7, p. 140,432,499, 532, 742, 745.) Rcchester & Genesee Valley.-Owns from Avon to Rochester N. Y., 18 miles. This road was leased July 1, 1871, in ;perpetuity, to Erie Railway, and now operated by New York Lake Erie & Western. Bental, $34,012. James Brackett, President, Rochester, N. Y. Bom.e & Decatur-Owns from Rome, Ga., to Attalla, A.la., 65 miles, and projected to Decatur. The bonds were offered in New York by Orovesteen & Pell, and when theysnspended in 1887work ceased. R T. Dorsey, of Atlanta, is receiver. Receiver's certificates for $400,000 were issued to complete and equip the road to Attalla. From Oct 1 to Dec. 31, 1888 (3 mos.) . gross earnings were $14,55!; net, $6,390 . .l.!:ugene Kelly, Pres't, New York. (V. 45, p. 341, 438, 573,614, _744, 857; V. 46, I). 371; v. 47, p. 382.) Bome Waterto,vn & Ogdensburg.-(See Map.)-Niagara Falls to Massena Springs. 301 miles; Lewiston Junction to Lewiston, 4 miles; Syracuse to Pulaski, 37 miles; Richland to Rome, 41 miles; Watertown Junction to Cape Vincent. 24 miles; DeKalb .Tunotion to Ogdensburg, 19 miles; Rochester to Windsor Beach, 7 miles; Wood• ward's to Oswego, 29 miles; Utica to Ogdensburg, 134 miles; Carthage to Saoketts Harbor, 30 miles ; Theresa Junction to Clayton, 16 miles; total,· 643 miles. The R. W. & 0. was a consolidation Oct., 1861, of the Watertown & Eome and th'3 Potsdam & Watertown railroads. The Lake Ontario Shore Railroad was acquired January 15, 1875; the Syracuse Northern, Aug. 1, 1875. The Oswego & Rome was leased January 1, 1866. The Niagara Falls Branch road was leased Nov. 1, 1881, and all but $7,000 of its $250,000 stock is owned. There are also outstanding $100,000 Oswego RR. bridge 6 p. c. bonds, due Feb. 1915, and in additi Jn to the rental l)aid to Ieased lines appearing under their own title in this SUPPLE· MENT, the company paya as rental interest on $175,000 Syracuse Phenix: a. Oswego 1st mort. tis., due Feb. 1, 1915, and on $130,000 Norwood & Montreal, 1st m 1rr. 5a, due April 1, 1916, and to the Carthage Watertown & Sackett's Harbor RR. 3712 per oent of its gross earnings. The Utica & Black River road and branches were leased in A..pril, 1886, the R. W. & O. guaranteeing ftxed charges and 7 per cent per annum on the stock, a majority of wltich it holds. In Aprll, 1886, the income bonds were offered an exchange of 40 per eent in the 5 per cent consol. mort., due 1922, and 60 per cent in stock, and the bonds have been about all exchanged. Dividends have been: In 1887, 6 p . o.; in 1888, 6; 1n 1889 to date, 3. From Oct. 1, 1888, to Nov. 30, 1888 (2 mos.), gross earnings, including the Black River, were $613,580, against $597,149 in 1886-7; net, $290.850, against $297,2lfi. Fiscal year ends Se.,,t. 30. Report for 1887•8 in V. 48, p. 36. Earn• in gs were as follows: 1885-6. 1886·7, 1887-?. Gross earnings .•••.••.••.••..• $2,406,793 $3,138,447 $3,328,325 Net income ...•••.••........... $941,243 $1,319,840 $1,347,223 ...., Deduc 1lnte~8t and rentals ..•....... $693,480 $919,551 $884,142 Dividends._ •.•••..••..••...•.. 276,825 327,834 Total...................... $693,480 $1,196,376 $1,211,976 Surplus for the year...... $247,763 $123.464 $135,252 -(V. 45, p. 113,212,240,401, 509. 540, R86; V. 46, p. 40; V. 46, p. 134,201,650; V. 47, p. 188,664,690; V. 48, p. 36.1 Butland.-Owns from Bellow's Falls, Vt., to Hurlington, Vt., 120 in. This road has been through many chao gea. It was leased to the Cent. Vt. in Dec., '70, fllr 20 yP.ars, but the lessee became insolvent, and finally a modi.fl.cation cf the lease was made, giving $250,000 per year as a mini- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $1,021,500 1,000,000 7,055,000 500,000 250,200 375,000 4,000,000 1,500,000 1,500,000 1,404,000 446,000 628,000 400,000 6,965,000 1,680,000 2,940,000 2,468,400 1,100,000 1,100,000 1,400,000 1,400,000 1,700,000 1,357,000 1,030,000 485,000 220,000 330,000 550,000 5'l5,000 250,000 1,000,000 1,000,000 16.409.000 7 7 5 7 3 5 50c. 6 5 6 g. 8 gg. -J. &D. J. & J. A.. & o. J. & J. ... M.&N. M.-&-N. F'. & A. J. & J. M.Jr;N. A. & O. Q.-J. gg. M.& N. J. & J. 5 J. & J. l J ..&.. J. 7 A. & 0. 7 F. &A. 7 M.Jr;N. 7 M.&N . 7 Junel 6 A. & 0. 8 J. &D . 6 J. & J. 7 F. & A. 6 4g M. & 8. M. & S. 5 4 g. \{. & s. ~ g. M.& 8. 6 O', M.-&-·N. Deo.1, 1891 N. Y. Central Tr. Co. Jan.1, 1892 do do July 1, 1922 do do July 1, 1901 do do N. Y. Office, 5 Pine St. May· fal8 do do Rutland, Clem. Nat.Bk. Jan. 1, 1889 Boa.,GlobeNat. Bk &Rut Nov. 1, 1902 Aug. 1, 1898 do do N.Y.,So.Pac.Co.,23 Br'd Jan. 1, 1907 Boston, C. Merriam, Tr. May 1, 1902 Boat., Am. L. & Tr. Co. Oct. 1, 1910 April 1, 1914 Bost.on. N. Y., Central Trust Co. May 1, 1925 July 1, 1925 do do Jan. 1, 1927 do do N. Y ., ufll.oe, 18 Broad St. Jan. 10,1889 July 1, 1894 do do July 1, 1894 do do July 1, 1894 d.:> do July 1, 1894 do do July 1, 1894 do do After Jan., '94 do do Oot. 1, 1896 do do June 1, 1923 do do July, 1, 1910 do do Aug. 1, 1920 do do Sept. 1, 1931 do do Sept. 1, 1931 do do March 1, 1932 do do Sept. 1, 1917 do do Sept. 1, 1917 do do 5. Y. Mero. Trust Co . May 1, 1936 ·i; 0 mum rental and $8,000 for organization expenses; but in 1887-88 les see retained $18,000 for taxes. whiohled to legal proceedings now pending. The 5 :r.c. 2ds are a first mortg. on rollin6 stock and personal property. Common stock is $2,480,600; par $100. In Nov., '87, the Del. & Hudson Canal purchased control of the stock. The income aoco'lllt for year ending June 30, 1888, was in V. 47, p. 81. Dividends on preferred stock since 1876 have been: In 1881, 112 per cent; in 1882, 2: In 1884 and 1885, 1; in 1886 and 1887, 112; in 1888, 1; in ltj89 to date, ¼, -(V. 45, p. I 12, 643, 744; V. 46, p. 38; V. 47, p. 81.) Saglna-w Valley & St. Louts.-Owns from Ithaca to Pains, Mich., :i6 miles, and l eases Alma to St. Louis and Pains to Saginaw. 9 miles; total, 45 miles. Opened January, 1873. Capital stock, $264,804. In 1886, gross, $90,131; net, $7,848. In 1687, ~oss, $99,784: net, $23,218; int. payments, &c., $35,680; total def. to Dec. 31, '87, $85,521. ln July, '79, management was transferred to the Detroit Lana. & No. St . .Toseph & Grand 18land.-(See .Map of Un. Pac.)-Lineofroad St. Joseph, Mo., to Grand Island, Neb., 252 miles; Kansas City & Omaha RR., Stromsburg to Alma, 151 miles, and McCool June. to Kansas City & Omaha June., 44 miles; total, 447 m. This company was organized in Ju'Q.8, 1885, as successor of the St. Joseph & Western, sold in foreclosure, and includes also the Hastings & Grand Island RR. and the bridge at St. J oaeph. The road is operated by the Union Pacific, which owns $2,301,500 of the $1,600,000 at.ock, and guarantees the int(lrest; on the first mortgage bonds. Notes for $500,000 were outstandin~ Dec. :n, 1887, representing sums advanced to Kansas City Wyandotte & Northwestern RR. Co. Kansas City & Omaha bonds have a traffic guar. from St. J. & Gr. I. and U. P. The Union Pac. owns $1,563,500 bonds and $2,035,125 of the $2,698,700 stock of the Kansas City & Omaha. In 1886 gross earning:1 were $1.169,425; net, $506,962; surplus over charges, $9,172. In 1887 gross, $1,005,412; net, $337,516; de11oit under charges, $30,562. James H. Benedict, President, New York. (V. 45, p. 113; V. 45, p. 614,673,771. K. C. & O.; V. --17, p. 535.l St. Louis Alton & Terre Haute.-( See Map).-Owns main line from 'l'erre Haute, lnd., to East St. Louis, 193 miles; proprietary line, East St. Louis to Belleville, 14; leases-Belleville & Southern Illinois RR .. Belleville to Du Quoin, Ill., 57; Bellevill('I & Eldorado RR., from Du Quoin to Eldorado, 50; Belleville & Carondelo:1li RR., from Belleville to East Carondelet, 17; Bt. Louis Southern, Pinckneyville to Carbon • dale, IlL, 33; Carbondale & Sb.awneeto wn., C,i,rbondale to Marion, 18; Chic. St, L. & Paducah, Marion to Paducah, 47 miles; total, 428 miles, of whbh the company operates only 235 miles, the main line, 193 miles, having been leased Nov. 1, 1882, to the new India.nap. & St. L. Rall way andlthe Cleve. Col. Cin. & Indianapolis jointly. This company was a reorganization, Feb. 18, 1861, of the Terre Haute Alton & St. Louis RR. The Bellev. & So. Illinois is leased to this company for 999 years from Oct. 1, 1866. Lea-so rental 40 per cent of gross earnings up to $7,000 per mil& (except on coal, &c.), 30 per cent above $7,000 and up to $14,000 per mile, and 20per cent on any excess of $14,000per mile. Rental for 1884, $158,799; for 1885, $157,917; for 1886, $166,108; for 1887, $178,837. IDterest on bonds, and sinking fund $5,000 per year, guaranteed by lessees. Commrm stock of Belle. & So. Ill., is $430,000 and preferred $1,275,000, and dividends on preferred stock since 1880 prior to current year have been :-412 Jn 1881; 512 in 188l; 614 in 1883; 5¼1 in 1884; 5 in 1885; 5 in 1886; 6:\l in 1887; 6~ in 1888. The Bellev & Carondelet is leased for 933 years from June, 1883, at a rental of $30,000 per year, which is a guarantee of int. on the bonds, the stock of $500,000 being owned by the St. Louis A. & '£. H. The Belleville & Eldorado was leased for 985 years from July 1, 1880, at a rental of 30 per cent of the gross earns., but $15,400 per year guaranteed. Rental received for I 886, $15,707; for 1887, $15,400; stock $1,000,000; par $100. The St. Louis Southern RR. and Carb. & 8hawnee. RR. are leased for 980 years for 30 per cent of gross earnings, int. on 1st mort. being guar. The Chicago St. Louis & Paducah road 18 leased fur 980 years a.Ii 30 per cent of gross earnings, with guarantee of rental to pay lat mortgage interest. (V. 4.7, p. 801.) The rent received for main line is $450,000, unless the gross earnin~s exceed $1,750,000 in any year ending Oct. 31, and then 20 per oen.t 1B to be paid of the excess ot gross earnings over $1,750,000. Deo. 31, 1887, sinking fund held of the :first mortgaga bonds $1336,000 (included a'Jove) and $478,936 cash. The preferred stock has a prior right to a. cumulative dividend of 7 per cent before any is deolared on common. It is also convertible into common at par; but shall not re• ceive any dividend as com. stock for the time it was held as preferred. Common stock is $2,300,000; par $100. Dividends on preferred stock since 1876 have been: In 1878, 2 per cent; in 18rll, 3 and 55 in bonds; from I 882 to 18~5, inclusive, 7; in 18':l6, 212; in 1887, nil; ln 18!:!8, 114; in 1889 to date, l. The annual report for 1887 was in V. 46, p. 707. The Cairo Short Line Division. which includes the roads directly operated by this company, makes the following exhibit : E.A.RNINGS, EXPENSES AND RENT OF LEASED LINES. 1885. Gross earnings...................... $766,316 Operuting expenses and taxes...... 397,347 Net earnings..................... $868,969 Rent leased roads................... 203,381 '(~t revenue ....................... @165,587 -(V. 45, p 166,273 '\"'. 46, p. 537, 707.) 1886. $803,991 408,896 1887. $962,480 521,079 $395,095 214,482 $441,401 255,883 ------$180,613 $185,518 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTO.dS' _; MAP OF THE ST. LOUIS, ALTON AND TERRE HAUTE RAILROAD. AND LEASED LINES, COMPRISING THE BELLEVILLE & CARONDELET, BELLEVILLE & SOUTHERN ILLINO/S, BELLEVILLE & ELDORADO, iT. LOUIS SOUTHERN, CHICAGO ST. LOU/8 & PADUCAH. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis SUl'PLEMENT. (VOL. XLVIIL JANUARY, 1889,] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis R\lLROAD STOOKS AND BOND~. INVESTORS' SUPPLEMENT. '"'114 [VOL, XLVIII. Subserlbers "7lll conCer a great favor by giving hnmedlate notice ot any error discovered In these Tables. Bonds-Pr1n61• DESCRIPTION. INTEREST OR DIVIDENDS. I Miles Date Size, or Amount pal,When Dne. Pal· Outstan~g Rate f.6r [ When Where Payable, and by Stocks-Last '•For explanation of column headings; &c., see notes of of on first page of tables. Road. Bonds Value. Cen . Payable Whom. Dividend. lit. Louis Arkansas <f: Texas-(Oonti>iited) - . - - - -· - - - 2d (inc. till '89, see rem.), g., ($13,00~. m.) ... c • 733 Louis ti Oafro-lst mort., int. guar ., . & O. g .. c 161 ,Bt. Louis <f: Ohicago.-Old 1st mortgage ..••......••. 50 70 Consol. moi:t., ($20,000 p.m.) . ..........•..... c• RR. & Coal Co. oint mort , 2d on qR. ($1,000,000) --·· ,llt. Lou1s ti Hannibal-lat mortgage ($600,000) . .•. 85 .IJt. lhUis d San Jrancisco.-Stock, common ......•. l,4!'il Preferred, 7 per cent, not cumulative ...........•. 1,451 1st preferred, 7 per cent, not cumulative .......••. 29i '2d mort. (now lst),A, gold~ (Pacifio to Seneca, do do B, gold Mo., and ':>ra,n ohes), 294 do do C, gol-1 294 miles. 294 "Equlp. mort., gold, $80,000 dr. ann'lly. at 105.o* "l.st m. on Mo.& West.RR.,~. $5,noo y~ dr. at 105 ·a2 ·,Collateral trust bonds, ~old, sink. fd. not drawn .. 104 'St. Louis Wichita & West., 1st mort., gold, guar ... 145 -Gen. M., ,r.(2don 330miles) ($7,727,000 are 6s)o* 366 4Colla.t.Tr.M. on br'cb,es ($20,000 per mile), gold,c* 55 Equipment Trust ($23,000 due each A. & 0 .) ...•. Xan. C.&8.W.,lstM.,g.,red.at l 101$12,000 p.m.)c• ·62 Bt. L. Kan. & S. W., 1st M., g., gua.r.($15,000 p. m.) 48 Ft. S. & Van Bur.B'dge, 1st m .. g.drn at lG5 ~uar. v'St.L.Salem & A.rk.,lst M., guar.,redeem.at 105 .. c• 54 ,: Kan. Midl'd, 1st M., g ., $15,000 p.m., int. guar .. o,. 107 ;/IL ,Louis Van. & TerreH.-lstM.s. f. guar.notdr.c* 158 2dmort., sink. fund, not dr'n 1$1,600,000 guar.).c• 158 a. Paul ti Duluth-Preferred 7 p. o. stock & srrip. 231 .Common stock.................... . .....•..••....•. 231 lstmort. bonds ..........•.........•...••..•...•. c* 167 ~d mortg. $2,000,000 ..•...•...•..••..••...•...•. c• 167 Taylor's Falls &Lake Sup.,lstm.,gu.,s.f. notdr.c* 21 "Duluth Short L., 1st, guar., cum. s.f. not drawn.o .. 25 ,t. f.· 0 ---- --- 6 g . F. & A. $1,000 $16,409,000 See remarks. 4 g. J. & J. N. Y., Farmers' L. & Tr. 4,000,000 500 &c. 1,000 500,000 6 J. & J. J!llY, '88, last paid. 6 g. J. & J . 1,000 900,000 July, '138, la.st paid. 6 g. M.&N. 1,0CO Nil. New York. 1,000 370.000 J. & J. N. Y. National City Bk. 7 100 11,859,300 .... ··2¼ A_-&·o . N. Y., Office 15 Broad St. 100 9,768,400 .... 100 4,500,000 3¼ F. &A. do do 6 g. M.&N. 500,000 is16 100 &c. d4> do 6 g. M.&N. 2,766,500 1876 500 &c. do do 2,400,000 6 g. M.&N. 1876 500 &c. do do 465,000 7 g. J. &D. 1880 1,000 do do 1,000 1,080,000 6 g. F. &A. do do 1879 1,213,000 F. & A. 1880 1,000 6 do do 2.000,000 M.& 8. 1879 6 do do 1881 1:000 20,042,000 5 &6 g. J. & J. do do 5 g. A. & 0. 1887 1,000 1,099,000 do do 1884 280,000 6 g. A. &O. do do 74,1,000 6 g. J. & J 1886 1:000 do do 1,000 732,000 6 g. M.& S. 1886 do do 1,000 475,000 A. di; 0. 1885 do do 6 ~5 g. J. & D. 1886 1,000 810,000 do do 4 g. J. &D. 1,000 1,608,000 1887 do do 1,899,000 J. & J. N. Y., Central Trust Co. 1867 1,000 7 2,600,000 1.000 M.&N. 1868 7 do do 5,376,970 100 3¼ J. & J. N. Y., .Fourth Nat. Bk. 100 4,6 50,207 3 & 15 st do do iss·1 1,000 1,000,000 F. & A. N.Y., Central Trust Co. 5 2,000,000 1887 1,000 5 A. & O. N.Y., First Nat. Bank. 1,000 210,000 1884 6 J. & J. N. Y. , Central Trust Co. 1,000 1886 500.000 M. & 8. 5 do do 1886 1886 1885 1887 1888 1886 .... May 1, 1936 Jan. 1, 1931 1. 1915 Apr· 1, 1927 May 1, 1928 1936 Ju1J ocraCisss Feb . 11, 1889 Nov. 1. 1906 Nov. 1, 1906 Nov. 1. 1906 June 1, 1895 Aug. 1, 1919 Aug., 1920 Sept., 1919 July 1 1931 Oot. 1, 1987 A.&0.5 p.o. ea. Jan . 1, 1916 Sept. 1, 1916 April l, 1910 Dec. 1, 1936 June 1, 1937 Jan. 1, 1897 May 1. 1898 Jan.15,1889 July 5, 1887 Aug. 1, 1931 Oot. 1, 1917 Jan. 1, 1914 Sept. 1, 1916 -St. Louis A.rkan8a8 & Texas.-(See Map.)-Road frnm Birds sold in foreclosure Sept. 8, 1876, and the St. Louis & Ban Francisco 'Point, Mo., opposite Cairo, Ill., to Texarkana, Tex., 418 mile11, and became possessor of the property. thence by the Texas road to Gatesville, 305 miles; total, main line, 723 miles; branches, Paw Paw Junction to New Madrid, 6 miles; McNeil Magnolia, 7 miles; Sherman branch, 115 miles; Tyler to Lufkin. in 'Texas, 90 miles; Corsicana te Hillsboro, Tex., 45 m.; Commerce to Fort 'Worth, 107 m.; Lewisville, Ark. , to Shrevepott, La.. 66 m.; Altheimer to 'Little Rock, Ark. . 46 ro.; Malden bra.nob, D exter, Mo .. to Delta on the t. Louts Iron Mountain & Southern (bywbich road St. Louis is reached), -38 miles; total, Jan , '89, 1,244 mi es. The road in Texas was foreolosed Dec. 1, 1885. 'lh6 Missouri & Ar'.kansa.s Division was sold on Feb. 27, 1886. The present organizatic.Ii. ..consists of two oorpo rations. The stock issued by the Missouri and Arlransas Company was transte1Ted to the Texas Company, which latter lhas issued its own stock for the same. Till 1891 the oontrol of the en• '¢ire road is to be vested in the committee, and for this purpose the stock -u deposited with a trust compa.n;v. For stook so deposited ne~otiable ,eertificates are issued, and designated as "stock trust certificates." =$ee plan of r eorganization in editorial of SUPPLEMENT, Oct., 1885. The first mortgage bonds are issued at $13,000 per mile, seconds at -~13,000, and stock at $13,000. In Oct, 18S8, the company needed money, owing to the large expenditure for improvements, and over -$~.000,000 of second mort . bonds were sold to Jay Gould and Russell :.Sage for about $2,000,000 cash (V.47, p. 402), and they were given three . -of the fl. ve controlling trustees, who are now Mes•m•. Russell Sage, • George Gould, Louis Fitzgerald, George Coppell and N. Gernsheim. The 1st mortgages of the companies ln Missouri and Arkansas and in "'Texas are deposited with the Central Trust Co. and the 2d mortgages on both divisi ons with the Mercantile Trust Co., and each of these trust com j)a.nies has issued against these mortgages so held its coupon trust cer. . tlflcates for $1,000 ea.eh. See mortgage a bstra'·ts in CHRONICLE, V. 45, · p. 64.4 Supplementary mortgages extend lien to various branohes. The first coupon on the 2d mort. bonds (for three months interest , .only) is payable Au!!". 1, 1889. but this coupon is stamped on the bond 1 the same as its predecessors, '' payable if earned ." Stock $16,409,000, ,:par $100. There are car trusts payable at the Farmers' L'n. & Trust Co. . Report tor 1887 was in CHRONICLE, V. 46, p. 80 l. Gross earnings in on 887 were $2,670,531; net over expenses and taxes, $764,738. (V. 46, i!P• 76, 191, 353, 418, 471, 574, 610, 801; v. 47, p. 22, 188, 382, 383, -4-0Z, 432. 690; V. 4~, p. 70.) •st. Louis& Oalro.-Thisroad extends fromCairoto East St. Louis, 3.52 miles, with a branch to High Prairie, 9 miles. The former Cairo & St. Louis made default April 1, 1874, and was sold in foreclosure July, 1881. Stock is $6,500,000. In Jan., 1886, a lease was negotiated till ...Jan. 1. 1931, to the Mobile & Ohio RR. on the basis of a rental of 25 per -cent (160 640 ) of the gross revenue of the whole line, Mohile to St. Louis, tthls rental being guaranteed by the lessee to amount to $165,000 per year. The issue of $2,600,000 income bonds was retired with part of tbe -$4,000,000mortg. bonds, interest on whioh is guaranteed by the M. &O. t,o St. Loul8 & Chicago --Owns from Springfield to Litch<fleld, Ill., 50 m., and branch to Mount Olive coal flfllds, 10 m.; other tbranches 10 m.; total, 70 m.; under construction to Eureka, Ill., to a ~ unction with the new Atch. 1ine. From Litchfield to St. Louis trains .run over the C. C. C. & I. tracks 57 m., under a traffic agreement. Total -operated, 127 m. In consequence of dissensions in the company default -was made on Jan., 1889, coupons, and Robert Cavett was appo' nted re~tver. (See V. 48, p. 68.) The mortg. made in '87 (Trustee, Am. Loa n .& Tr. Co., of N. Y.) was for $4,500,000, providing for an extension to ..Joliet, Ill., and for the r etirement of the old bonds of '85. In '88 the ,. :mortgage for $1,000,000, covering- 3,000 acres or coal l and, was made 'jointly with the Mt. Olive C~msolidated Coal & Coke Co., whose stook of :$1,000,000 is owned by the railroad. Stock: Common, $1,200,000; JPreferred, $1,200,000. (V. 46, p. 255,290; V. 47 , p, 10) ; V. 48. p. 68.) --st. Louis & Hannlbal.-Owns from Hannibal, Mo., to Gilmore, on <Wabash St. Louis & Pacific, 82 miles ; uses 2¼ miles Missouri Paci.fie -track; total operated, 84½ miles. This company is SUCl'essor to the .:former St. Louis, Han. & Keokuk, sold in foreclosure D ec 8, 18::i5 . :!Stock is $1,-000,0()0 au thorized and $452,000 issued; par, :!HOO. Gross ,earnings 1n 1887, $144,681; net, $32,325; surplus over iuterest, $591. ..John I. Blair, President .No late i nform ation. (V. 46, p. 413.J St. Louis & San Francl8co.-{ See Map.)-LINE OF RoAD-St. 'iLouis,Mo., to Seneca, 326 miles; Oronog o, Mo., to Galena, 18 miles; G1ra.rd to Joplin, Kan .• 38 miles; Pierce City to Wiohita Kan., 217 m.; Monett, Mo., to Paris, Tex., 303 m.; Springfi'd to Chadwick, Mo.,35 m .; ISpringfieldtoBolivar, Mo.,39 m.; Fayetteville, Ark .• to St. Paul, Ark., -83 m.; Jensen to M:ansfie1d, Ark., 18 m.; small branches, l 7 m.; total -owned Dec. 31,1887, l,044 miles. Leases, Cuba Junct'n to Salem and branches, 54 m.; Beaumont to A,itbony, Kan., 117 miles; branch 2 ,DI.Iles; Wichita to El!swortll, 107 miles; total owned and l eaiwd 1,324 ,,miles; the tracks of the Atchison Topeka & Santa Fe are used from Wi..--chita to Halstead, Kansas, 25 miles, and operates the :finished portion of •;the Atlantic & Pacific road. Central Division, from Seneca. Mo., to Sar:1mlpa, tn the Indian Territory, 112 miles; total operated, 1,45 l miles. ORGANIZATION, &c.-This company was organized Sept. 20, 1876, as ...-nccessor to the Atlantic & Pacific in Mo. The latter embraced the South Pactilo RR. (originally the Southwest Branch of the Paci.fie RR. of Mo., •·.Chartered Deo. 25, 1852), which was consolidated with the Atlantic & a>actilc road Oct. 25 1870. The Atlantic & Pacific road and lantls were https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis This company is jointly interested in the Atlantic & Pa.oiflo RR. with the Atch. Top. & Santa Fe, a.nd guarantees one•half the 1st mortgage bonds severally, notjointly. In January, 1836, leased for 99 years the Kansas City & Southwestern RR., t'rom Beaumont. Butler Cvunty, K ansas. to Cale, in Cowley County, 62 miles, at a rental guaranteed to pay the interest on the 1st mort;ga~e bonds. The bonrls o.re redeemable on notice at 110. The stock of the St. L. K. &S. W. (Ark. City to Caldwell, Kan., 47 m.) is owned and the bonds guaranteed. Kansas Midland R'way, Wichita, Kans., to a junction with Union Pao . RR at Ellsworth, 107 miles) was leased for 97 years from Jan. 30, 1 H88, at a rental guaran ·eed to m eet interest on bonds. STOCKS AND BoNDs.-The first preferred stock has prior right to 7 per oent (non-cumuhtive) ; then pref. entitled to 7 per cent; then common entitled to 7; then all classes share in any surplus. The terms of 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 1887 212 per cent; in 1888, 5 . Tile range of the stocks yearly since 1877 has been: First preferred in 1878 (4 months), 5¼'@1134; in 1879, 934~78¼; in 1880, 60@100; In 1881. 90111115½; in 1882, 7934@106¼; in 1883, 87@100¼; in 1884, 70@96¼; in 1885, 79'@9912; in 1886, 97@11812; in 1837, 1071bl20; 1n 1888, 10512 -. U6 7s: in 1889, to Jan. 18, inclusive . 11312@114¼1. Preferred stock in 1878, 1¼'@514; in 1879, -P s@6 0¼; 1n 1880. 331.t 65; in 1881, 55'@8114: in 1882, 43@66¼; in 1883, 401b59¼; in 1884, 24¼@50; in 1885, 30W49 7s; in 1886, 37,½a'ID723s; in 1887, 61¼1b84:19; in 1888, 61¼'@743s; in 1889, to Jan. 18, inclusive, 61@66711 • Common in 1878 (3 months), 1¼1b41s; in 1879, 318'@53; in 1880, 2~3' @48; 1n 1881, 39'@55; in 1882, 31@46 7s; in 1883. 20¼@36¼; in 1884, 11¼@29,½a; in 1885, 17¼'@2412; in 1886, 17@36l:\,a,; in 1887, 30i>443'; in 11388, 22¼1W36¼; in le89 to Jan. 18, inclusive. 23@2619. The trust bonds of 1880 are secured by deposit of 7 per cent mortgage bonds of the auxiliary roads constructed. Difference between interest of truat, bonds and bonds pledged therefor (1 per cent) goes to purchase trust bonds at 105, but bonds not drawn. The general mortgage of 1881 (supplemented by that of June, 1832) for $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 new road, besides covering the mileage on which are the prior liens . The collateral trust bonds of 1887 (Union Trust Co., Trustee) are for $50,000,000, at $20,00J per mifo, and are secured by deposit with the trustee of an equal amount 01' fl.rat mortgage bonds of branoh lines. Misimuri & Western bonds to the amount of $5,000 a year are purchased or drawn at 105. St. Lou's Wich. & West. bonds are purchased or drawn at 105 with any surplus r ental over interest. The St. L. Kan. & So.Western bonds are issued at $15,000 per mile on road from Arkansas City towards Anthony, and are redeemable at 110 on any interest d ay, at four weeks' notice. The Fort Smith & Van Buren Bridge bonds a.re guaranteed. by the St. 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 option. The land department assets were estimated Dea. 31, 1887 at $718,608, including 133,903 acres of land valued at $369,572, 1,i56 town lots val'd at 43,928, $200,621 in land contr'cts and $104,486 cash• The ~t. L. Salem & Arkansas first mort. bonds (guar. absolutely by St. L. & San F.) are issued at $15,000 per mile, and are redeem. on notice at 105. Kansas Midland fir.st mort. bonds are at $15,000 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 has made good progress in traffic and income, without very heavily increas• ing its annual interest charges. The annual report ror 1887 was in V. 46, p. 608 and 615 . From J a n. 1 to Jllile 30, in 1888 (6 mos.), gross earnings were $:Z,520,· 836, against $2,728,904 in 1887; net, $979,~0 3, against $1,513,288. INCOME ACCOUNT. 1884. 1885. 1886; 1887. R eceipts$ $ $ $ Gross flamings .• __ 6,229,344 4,643,596 4,383,406 4,874,628 2,433,6 52 2,652,332 3,247,477 Net earnings ..•..••• 2,508,218 Other receipts .••... 14,83U 19.782 159,619 190,332 Total net income 2,523,054 2,453,4.44 2,811,951 3,437,809 Cnt., sink. fd. & rents Di vidends ..... ·-- · .. Rate of dividends .. l\'l iscellaneous .•••.. 1,826,203 315,000 7 242 1,751,215 315,000 7 4,732 1,950,323 315,000 7 5,974 2,219,901 565,000 7* Disbursemen ts- ----- ....... Total d6ibursem' t s 2,141,445 2,070,947 2,271,297 2,784,901 B alance, surplus... 381,609 382,497 540,654 652,908 * And ~12 per cent on pref. -(V.4~.p.54,793;V.46,p.40,76,134,255,449,481,608,610,615, 621 739 771· V.47,p.81 161 395 594 708 u] ~ z 0 --l A z ~ N ~ Q ~ ~ w ~ 0 ~ MAP OF THE CONTINUATION or TBB ATLANTIC & PACIFIC RAILROAD AND CONNECTION$. Reduced Scale. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ST. LOUIS & SAN FRANCISCO RAILWAY INVESTORS' 116 SUPPLEMENT. [VOL. XLVIII. Sub•crlbers will con.Cer a great Cavor by giving lnunedlate notice or any error discovered In these Tables. DESCRIPTION. w &xplanation of column headings, &c., see notes on first page of tables. INTEREST OR DIVIDENDS. &ma,-Prlncl Miles Date Size, or Amount pa.I, When Due of of Par Outstanding Rate per When Where Payable, a.nd by Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. • Paul Mmma~lis cf Manitooa-Btook __ •. ___ .. _•. 3,024 76 lstmort. land grant sink. fd .• g. drawn at 105 .. c* 656 2~ mort., gold (does not coverla.ncts) ___ ---·----C* 656 Dak..Ext., lstmort.,f:old ($12,()()(J per mile) ______ 473 Conso1 mort.,gold ($ 3,344,000 are 6s), cp. or reg. 2,292 let M.,g., Montana Exten. ($25,000 p. m.) •.. c*&r 288 Collateral trust bends, ,i: , redeemable a.t par . . o Hinneav. Un. RR .. 1st M., gold~.($3,000,0001 .... JEut. of Minn., 1st M:., g ., gu. ($ ,OOOp. m.) c• &r ontiana Cen., lstM., g. ($40,000p. m.), guar. c &r 19l 6'1. Paul cf No.Pac.-Btock ($10,000,000 authorized) 152 Gen. M.,f;ar, ld.gr.,($10,000,000) reg. R;-F.o• & r 152 West~ R.,Minil..,lstM.,RR .. oovered yGen.M. 60-¼) . an Anton·i o ~ Aransa.t Pass-lat wort., gold._-··· 1!'10 latM.,ex., gld. ($12,000 p. m.), 1edeem. a.t no __ ;, 217 f 2d M., g., income for 5 years, $8,000 per mile. __ . 4.59 &,,nPedro Los.Angela cf Utah-lstM., $20,000 p.m. 7 llaad'US/cy Mansfield cf Ntwark-Re-Orga.nized stoc.K 116 lstM.,g ,lnt.gu.underlea.sebyB.&O.a.n.dCent.O.c• 116 wannah Florida ~ Wut. -At. & G. oonsol. mort __ ~86 So.Ga. & Flor., 1st Ms., end. t>y State of Georgia_. 58 5~ do 2d mortgage---·-~----------------·--8a.v. Fla. & w., lstmort~age ------··---·---·---·c" 525 a,iannah cf Wutetvn-Columbus &West'n mortgage. 159 50 Columbus & Rome 1st mo1tg~e··--- ------- · ·-·14 Mekenectadti II Duanesburg-lat ., guar. D. & H.c" 11,uylkiU a/.-Stock, 5 p.c., gua.r. IJ99 yre., Ph.&R. 19 .Jewto Valley-lat mort. (s. fund $13,000 per year>_ 98 2d mortgage (sinking fund, $5,000 per year) •••• 98 Consol. mortgage. __ .. _____ - -__ - -_- ••. - _____ •• -•.• - . 124 .Bt. P. & Pa-0., d M. (1st on St. Paul to Watabl. .. .... ---- ise2 1879 1879 1880 1883 1R87 1888 1882 1888 1887 iss3 1877 1885 1886 1888 1888 i869 1867 1869 1869 1884 1881 1884 1874 i876 1879 1880 $100 $20,000,000 Q.-F. New York, 40 Wall St. 119 1,000 366,000 J. & J. 7 do do 100 &c. 4,691,000 7 g. J. & J. New York and London. 1,000 8,000,000 6 g. A. &O. do do 1,000 5,676,000 6 g. M.&N. N. Y., 4.0 Wall St. 1,000 25,444..000 4¼&6g. J. & J. do do l,OOO&c 7,468.000 4 g. J. & D. do do 1,000 8,000,000 5 f!, F. & A. do do 1,000 6 g. J. & J. 2,150,000 do do 1,000&c 3,500.000 5 g. A. & O. N. Y.,40Wa.11; Eo~., Lee H l,OOO&o 4,500,000 6 g. J. & J. New York, 40 Wall St. 100 5,000,000 Q.-J. N.Y.Office, 119 Liberty. 119 1,000 6,750,000 6 g. F. &A. N.Y., Winslow, L. & Co. 1,000 438,000 M.&N. 7 do do 1,000 1,750,000 6 g. J. & J. N.Y.,8.M.Bwenson&Son 1,000 2,598,000 6 g. J. & J. do do 1,000 3,672,000 5 g. A. & 0. None paid. 10,000 140,000 6 g. M.&N. N. Y. A§ency. 50 1,068,832 Feb.l Moss N. Bk., and'ky,O. 3¼ 1,000 2,300,000 7 J. & J. N. Y .. Union Trust Co. 1,730,500 500&c. J. & J. N.Y.,H.B.Plant,&Sava.n 7 1,000 464,000 7 M.&N. do do ],000 ~00,000 M.&N. 7 do do 1,000 3,411,000 A. &O. 6 do do 1,000 800,000 J. & J. N. Y., Mere. Nat. Bk. 6 200,()00 1,000 6 J. & J. do do lOO&c. 500,000 M.& 8. Del. & Hud. Canal Co. 6 50 576,050 219 J. & J. Phil.Offl'e, 407 Library. 500&c. 1,294,000 J. & J. Last paid July, 1884. 7 1,000 283,000 A. &O. Last paid April, 1884. 7 1,000 553.000 J. & J. Last paid July, 1884. 7 St. Louts Vandalia & Terre Haute.-uwns trom J!;ast St. Louis to Indiana State line, 158 miles. Road opened July 1, 1870. t is leased to the TeJ.Te Haute & Indianapolis Railroad at a rental of 30 per cent of gross earnings. In July, 1887, suit was brought by 1.he lessor company to declare the lease void, but Judge Gresham deeided iii f~vor of its validity, and the case llaa been appeaied '\o the U. 8. Supreme Court. The first mortgage and $1,600,000 second mortgage bonds are guaranteed by the lessees and also by'the Pittsb. Cin. & St. L. RR. Stock, $2,379,358 common and it,544,700 pref.; par $100. In year ending October 31, 18R8, gross earnings were $1,622,716; net, $441,543: rental to St. L. Van. & T. H., 486,815; less charges, $372,162, leaving surplus, $114.,652. In 1885-6 rottt to lessee was $23,687; in 1886-7 profit $117,821 Thomas D . essler, Pres., Pittsburg, Pa. (V. 46, p. 76, 133, 172; V. 48, p. 68.) Paul & Duluth.-LINE OF ROAD.-Bt PaUl, Miiln., to Duluth, inn., 155 miles; branches, 12 miles; leases: Stillwater & 3t. Pa.ul RR.• 13 m. (for ~ 99 years); Minneapolis & Duluth RR., 13 m. (for 99 years tzom .Inly 5, 1883); Taylor's Falls & Lake Superior, 21 miles; Grants· urg Branch, 17 m.: total, 231 miles. Between North. Pacific Junction and Duluth, 24 miles, the road is owned Jointly with the No. Pacific. The Duluth Short Line road from Thomson to Duluzh, 25 miles, is Jeaaed for U9 years. lillcl the $500,000 bonds guaranteed. The Lake Superior & Mississippi RR. was sold in foreclosure May 1, 1877, and this company orgaruzed June 27. The preferred stock is HCeived 1n payment for lands at par. Three shares of common stock J>.ave one vote and each share of pre rerred has one vote. Preferred atock has a prior right to_7 per cent; ~hen common to receive 6 per cent. Dividends smce 1876 have been: On preferred-In 1881, 10 stock; in 1882, 3-½J in cash; in 1883, 7; in 1884, 3-¼1 and 7 m pref. stock; from 1885 to 1888, 7; in H89 to date, 3"¼. On common-In 1887, 3 and 15 in commo11 stook; in 1888, nil. The 2d mort. cover8 the right to leased lines, but not the land grant. The company ha,s a land grant, of which 1,110,394 acres remained unaold Dec. 31, 1687, and 68,531 acres of the Taylo1 s Falls bra.nob. In 1887 J11et receipts from land and stumpage sales amounted to $541,\:1 26. Fol' 1886 and 1887 the income accoun t was as follows, and $568,315 for ., improvements" and "betterments" was charged In oper. expenses. 1886. 1887. rom operation of r.iJ.lroad.----···- ___________ -· $603,786 $492,8 ·o aid interest on bonds_ ••• _••. ________ . .••. ___ ... 50,000 50,000 s,. Net income Lrom railroad ____________ _----··· $553,786 Cash diVidt'Ilds paid within year: 91 per ctnt on pret't:1rred stoJk. __ .. __ .. __ .. ___ --·. $374.,766 3 per cent on common stock. ___ . - • -_- • _____ . _... __ • - . - - . $442,880 $375,154 120,960 ----- Balance.--··----···-··-•--·-_----- .. ·-. ___ sur. $179,020 def. $53,233 .Jnoome from lands and s tumpage. ____ ---·--- ... il63,057 $541,925 · -(V. 46, o. 201,321,381,678,739,803; V. 47, p. al, 432, 745.) Paul ltllnneapolls & 1'Ianltoba-(Bee Map).-Own.s from St. ~u1, via Barnesville, to .h:merson, 392 miles; Minneapolis to Gretna 'Jia Breckinridge, -il3 m. ; Minn.ea.polis to Hinckley via St. Cloud, 1J2 m ; St. Oloud t o Willmar, 55 m.; Elk River to Milaca, 32 m.; B otti· iau Branch, i$9 m.; Sa uk Centre to Eagle Bend, 36 miles; Fergus Fa.lla to Pelican Rapids, 22 miles; Oroovton June. to Great Falla, Dak:., 77~ wiles; Shirleyto St. Hilaire, 22 miles; Wayzata to Spring Park, 6 • JD ile'I; Morria to Brown's Valley, -17 miles; Breckenridice to Lan~don, HHJ miles; Everest to Portland (via. Mayville). 50 miles; Ripon to Hope, 3'-' miles; Moorhea.d to Halstad, 34 miles; Evansville ( via. Tmtah Junci ion to Ellendale), 136 miles; Rutla,nd Junction to Aberdeeu, 6-l miles; Hntohinson Junction to Hutchiill:lon, 53 miles; B enson to Watel'town., 92 miles; small branches, 8 m iles; total operated June 30, 1888, 2~8 miles. Mileage on Jan. 1, 188\1, was 3,024 milee. 'fhis railroad company was organized Ma.y 23, 18'?9, The co~--pa.ny had a land ~rant of 3,848,000 acres, and acqUITed the Minneaoolis & St. Cloud RR. grant, 476,06 1 acres. The proceeds of land aa,les a.re applied to the redemption of 1st wort. tonds at or under 105. The lan<l sales for year ending June 30 1ao8 were 5 1 001 acres for '3. 0 , 6 26, and 384 town lots for $17,2<>5'. Tbe'net a.mom'it due on land eontracts June 30, 1888, was $295,105; lands unsold, 2,658,838 acres. Dividends have been as follows since 1880: In 1881, J p 1:r c ent: in 1 882 9 • In 1883 8 · in ltl84 712 · 1885 to l b88 inclusive 6· in 1889 to s,. Feb. 1, 1889 July 1, 1892 July 1, 1909 Oct. 1, 1909 Nov. 1, 1910 July l, 1933 June 1, 1937 Aug. 1, 1898 July 1, 1922 A-prll 1, 1908 July 1, 1937 Oct. 20, 1888 Feb. 1, 1923 May 1, 1907 Jan. 1, 1916 July 1, 1926 Oct. 1, 1913 1928 Feb. 1, 1889 Jan., 1909 July, 1897 May 1, 1899 May 1, 1899 April 1, 1934. Jan. 1, 1911 Jan., 1914 Sept. 1, 1924 J811. 11, 1889 Jan. 1,1896 April 1, 1894. July 1, 1910 and interest by the St. P. M. & M. Co.. which owns the M. C. stock. Fiscal year ends June 30. Report for 1887-813 in v. 47, p. 497, 502. 1884-85. 1885-86. 1886-87. 1887-88. Miles operatecl .. _-·· 1,471 1,509 1,935 2,648 Gross earnings ____ :_ Oper. exp. & taxes.. Net earnings.___ P.o. of op.ex. to earn. Receipts- Netearnin~s-- _____ Rev.:trom L'ndDep't Other receipts •..•• __ Tota.I Income . ___ DiBbursement-B- lnterest on debt __ ._ Dividends . __ .. ___ •.. Rate of dividend._ •. tll.llJdng fund. __ . __ ._ Imp'ts & renewal fd. $ 7,776,164 3,509,927 $ $ ' 7,321,736 3,838,652 8,028,448 4,314,895 9,561,905 4,669,987 3,483,084 45 ·13 52·!3 INOOME ACCOUNT. 1884-85. 1885-86. $ $ 4,266,237 3,483,084 131,292 350,114 171,116 66,284 3,713,553 53·74 4,891,918 56·68 -----4,266,237 4,463,813 $ 1,980.200 1,300,000 6-¼) 131,292 1886-87. $ 1887-88. $ 3,713,553 415,782 51-1,447 4,891,918 271,938 450,759 $ 2,170,409 1,200,000 6 415,782 600,000 $ 2,793,751 1.~0.000 ---------- --4,00*,314 4,643,782 5,614,615 $ 1,999,820 1,200,000 6 350,114 -·- --· -·--····· - - -..- 6 271,93 8 750,000 Tot. disburae'ts.. 3,411,492 3,549,934 4,386, 191 5,015,689 Bala.nee. surplus._-· 1,052,321 454,380 257,591 598,926 -(V. 46, p. 134, 191, 228, 255, 353, 739; V. 47, p. 327, 370, 382, 49'7 502,664; V. 48, p. 70.) st. Paul & Northern PacUlc.-Llne ar road Brainerd to Minneap olls, 139 miles, a.nd branches to St. Paul, 13 miles; total, 152 miles This company was formerly the West. H.R. Co. of Minnesota. Owns terminals ju Minneapolis on 20 a.ores, and owns in all some 400 acrea about St. P a ul and Minneapolis. The land grant of 210,000 acres is be tween Brainerd and Sauk Rapids; proceeds of lands are first applied to purchase of West. Minn. bonds, then to gen. mort. at 120 or under. The road, with its terminal property, is leased for 999 years to the Northern Pac. at a net rental equal to 40 p. c. of the gross receipts, but any sur plus over 6 per cent on stock is divided equally between lessor and lessee. The IJonds are guaranteed b.r Northern Pa.cifl.c. The stock is placed 1n trust with Farmers' L. & T . Co., the power to vote being held by N•,rthern Pac. Co.; but "beneficial oertiftcates" entitling holders to dividends are issued. Stock $2,502,000, owned by N. P. '. (V.46, p. 75.)' San A.ntonlo & Aransas PaH.-(See .Jlap.)-Road extends from Kerrville to Wallis, Texas, 264m.; Kennedy Junctit>n to Corpus Christi and branoh, 102 m.; Yoakum to West Pomt 50 m.; Skidmen to Kleburg, 4 :{ m.; total 459 miles. The mortgage of 1885 covers the 150 miles from San Antoni(J to Aransas Bay, and that of 1886 provides for tbe issue of bonds at $12,000 per mile on exte.nstons. The Farmers' L. & Tr. Co. of N. Y. is tL ustee 01 both mortgages. Abstract of 1st mort;. on exten iaions 1n V. 45, p. 372. Cap. stock issued, $2,617,200. In year 3nding Der . 31. '88. gross earn's 1partlyest'd), $1,001,230; net, $334,501; surplus over ftnd charges, $91,141, against $57,751 in 1887. U. Lott: Pree't and Gen'l Mana.ger.-(V. 46, p. 321, 418; V. 47, p. 140,161, 382. Sandusky Mansfield & Newark..-Owns from Sandusky, 0., to Newark, 0., 116 miles. Leased to Central Ohio, guaranteed by Ba.lti· ruore & Ohio, Feb. 23, 1880, till Dec. 1, 192t:i, with option to the Balt. & Ohio Co. to renew for terms of 20 years each. It is operated as Lake Erie division of the Baltimore & Ohio system. In '87-88, grose, $1,088, 096; net. $198,966; loss to lessee, $29,556. San Pedros Los A.ngeles & Utah.-In progress from Passadena, via Los Angeles to San Pedro Bay, California., 50 miles. I Savannah Florida &_ We•tern.-◊~s from S a v ~ , Ga.• to Cha ttahooch_ee, Fla., 25~ miles; branches-Barn.bridge J~otion to Batnbridge., 9 mil~s; extens10u. to Sav:anna_h wharves, 1·70 miles; Ju.notion Branen, 4 mil~s; Dupont to Gamesville, _118 miles; Thomasville_ to Albany, 58 mile~; Waycross to . Jacksonville, 75 ~es; Fort Wb!te, Fla., t~ Lake City, Fla., ~O miles; total, 545 miles. The cap1tw. &te stoc~ 18 $5,925,900, and. dividends are,.paid a.a earned. In 1887 gross Ran11:e in stock prices since 1882 has been: In 1883, 9!@16919; in earrungs_were $2,675,520; net, $423,03,. If 1886 gross earnings, $2,· 18s4 • 7619'(119~; in 1€85, 79l\i@lll; in L8 8 6, 106~@~2-119;_ in 1 ~87, J557,817. net, $434,741. H.B. Plant. Prest, New York. 94,@120.,a: m 1888, 94@11412; in lo89 to Jan. 18, mclus1ve, 9ti~~ sav.. nnah & Western.-Owna from Birmingham. Ala. (conneo037a-. . . , tion with K a n sas City Fort Scott & Memphis), to Columbus, Ga., 157 The consolidated mort~age of 188_3 ~ for $50,000,000, of whrnh miles; Columbus to Greenville (nar. gau.), oO miles; Opelika.to Roanoke, 119,4-26_,00<? were !-'686rved to pay P!IOr liens_. The mol't g. on the Mon 37 miles; 1!:ufau1a to Ozark, 61 mil~s; Amerk us to Buena. Vista, 30 miles; tana. D1v., 1ssu~d 1n 18!:!7 a.ud due m 19_3 7, 1s fo r $ 5,ouo.ouo, to p10- total in operat ion, 335 miles. Under construction from Columbus to 'Vide for extensions, $15,000 per mile bemg allowed for second track. Buena Vh,ta 35 miles See abstract or mortgage in v. 45, -p. 342 ; Central Trust Co. of I Tbis was a,' consolidation in August, 1888, of the Columbus & WestNew York, trustee. The Collater11,! Trust bonds due 1898 were ern and other roads . Road b elongs to the Ce .tral or Georgia syaeued as per circular m V. 46, p. 228 . and m ay be paid off a.t p-u- tern. Btook is $5,000,000; par, $100. It is proposed to issue consol. n three month.I!! noti~; the Central Trust qompany trURtee. The mort. bonds for $t0,000 per mile. $3,000 of this being for equipment. Eastern Ra.ilwa.Y of .Minnesota. runs from Hincklt>y north war~ 70 Pres1't, Gen. E. P. Alexander, Savannah, Ga. (V. 47, p 218.) miles to a point near Duluth; the mortgage covers equipment, termmals and ~levators. The Bt. Paul Minneapolis & Mamtoba. leases the Schenectady & Duane•burt(.-From Quaker Street Junction., road till 1987 and guarantees the bonds. The Montana Central N. Y., to Schenectady, N. Y., 14 miles. Leased in. perpetuity to the lion.dB are issued onsevera. road.JI ,v 46, p. 125) and a.re guar. principal Del. & Hudson Canal. Rent&l, $30,000 per year. Stock, $100,500. 'i¼. ' ' https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ' ' ' ' ' . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ST.PAUL MINNEAPOLIS & MANITOBA CON:Tl~ATION OF ST. PAUL M. & IVi. B:. W. Reduced Sea.Le 118 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEME.NT. [VOL. XLVIII. C Q ~ z JjJ I (j 0 SAN ANTONIO AND ARANSAS P ASS RAILWAY AND CONNECTIONS. JANUARY, 1889. 119 RAILROAD STOOKS AND BONDS. Sub•erlbers -w-ill couCe r a great Cavor by giving Immediate notice oC any error dlllcovered In the•e Table•• DESCRIPTION. f INTEREST OR DIVIDENDS. Bond8-Pr1no2 - - - - - - - - - - - - - - - - - - - - - , Miles Date Size, or pal,When Due. For explanation of column headings, &c., see notes of of Par Ou~~~g Rate per When Where Payable, and by Stocks-I.a.it on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. &aboard cf .Lwa' ke-Stk. {$244,200 is prf. gua,. 7 p. c.) Debentures, redeem. at will after Aug. 1, 1916 .. r lat mortgage for $2,500,000 ......•........•..... c.. Beattle Lakes. & East.-lst M .• g., $25,000 p. ID .• *c !Jh,amokin SunlJUry ti Lewisburg-lat mort., coup. 2d mortgage.................................... . ... IIhamokin Vat. cf Potts'lrille-Stock, guar. by Nor.IC.. lat mortgage, gold, on road and lands ....••.... c Jlhena1idoah Valley- lat M........................... Gen(\ralmort.,gold(llenon$1,560,0001st.M.b'ds.) 3d mortgage i?-come bonds, registered, non-cum.. Car trus~ certificates .................•......•.... c BheffieldcfBirm.-lstM.,g.($15,000p.m.) ...... o'&r 2d mort. ($10,000 per mile), gold . ............... . c lat M. on lands, furnaces, &c., sink fd.not dr'n .. c.. BhoreLine{Oonn.) -St'k,7¼1p.ct.rent.N. Y.N.H.&H. lat mortgage.................... . . . . . . . . • . . . . . . • . . . Bhre1',:ortcfHouston-lst,g.,guar.byH.E.&W.T. ~fh w;:g:~f:o~ti_,~:~:~.t-~:~:~!?:~?.~:.·.~:~ lat mortgage, sterling loan........................ lat consol. mortgage (for $5,000,000). ..•... .... .. 2d conaol. mortga&"e................................ Income mortgage oonds (not cumulative)........ South Florida-lat mort. {$12,000 per mile) ..... o· Bo. cf No ..,Habam~lst M., endorsed by Alabama. Bterhng mort., sinking fund, guar. by L. & N . . . 2d mortgage bonds (owned by L. & N.)...... •. . . • . CollsoJ. mort. (for $10,000,000), gold ..•........ o· 8. Pac,,jic Ooast-lat M., g.,guar. (s.f. begins 1912).o South Pennsyt?Jani~tock (for $20,000,000)....... latmortgage (for$20,000,000) .....••...•. •······ Southern Oent. (N. .Y.J-Consol. mort. convertible.c -------. . •. $100 ·si iS86 1886 1886 1882 1884 72 31 . ••. 29 28 187i 255 1880 255 1881 255 1883 . . •. . . •. 87 l886 87 1886 1888 0 49 49 40 isso 1881 247 11.88-~6-58 114 1881 1881 1881 1885 1870 1873 1880 1886 1887 . ••• - · •· 1 88 2 247 247 247 247 189 182 183 183 .. . . 11 0 . ••. 100 &c. 1,000 1,000 1,000 1,000 50 500 &o. 1,000 1,000 1,000 . ... 1,000 1,000 100 &c. 100 lOOO&c. 1,000 l,~gg Various 1,000 1,000 1,000 1,000 1,000 £200 1,000 1,000 1.000 . ... · ·-&·c. 200 Schuylk.lll Valley.-Owns from Palo Alto to Reevesdale, Pa., 11 miles; branches, 8 ; total, 19 miles. LeMed to Phila. & Reading RR . tor 999 years from Sept. 1, '61, at 5 p. ct. on stock. Has no bonded debt. Scioto Valley.-Owns from Columbus, O., to Petersburg, O., 131 miles. Stock is $2,093,350. Coupons of lat m. a-nd c,ons. m. due July 1, '84, and of 2d m. due April, 188-1, were purchased in interest of Mr. Huntington, and are held as liens. Receiver (Jas. Robinsvn) was appointed b.t June, 1885, on a, judgment ofC. P. Huntingtonfor$639,305. Sui a are pending. (V. 4.5, p. 673; V. 46, :p. 67d.) There are also $82,000 7 per c ent equipment bonds. From Jan. 1 to )Nov. 30.1888 (11 mo .•.), gross earnings were$611,'246, against $726,224 in 1887; net, $131,881, against $183,379. In 1887 gross earnings were $789,123; net, $203,367. (V. 47, p. 5 62.) Seaboard & Koanoke.-Owns from Portsmouth, Va., to Weldon, N. C.. 81 miles; leases Roanoke& T. R.RR. 30 miles,and has a controlling interest in the Raleigh & Gaston R ~- 109 miles, and thus in the Ralei.gh & Augusta Air Line 107 miles and Carolina C',entra.l 269 mile,-; also controls Pittsboro RR. 11 milt's and Carthage RR. 11 miles; tota1, 618 mile:i. Of the stock, $1,058,700 is common, $200,000 is lat 7 per cent gua.r•• and $44,200 is 2d guar. The debentures above are to be included 1n any 2d mort. issued. They are payable at will as a whole, or in 10 per cent instalments after Aug. 1, 1916. The Georgia Carolina & N vrthern, in which this company is interested, is u 1< der construction, and has been completed from Monroe toward.; Chester, S. C., 40 miles. From March 1 to Nov. 30, 1888 (9 mos.), gross earninp;s wert, $512,247, against $490,849 in 1887; net, $189,69:t, against$ l96,435. In year enr1ine Februs ry 29.1888. net earnina-s on road proper, 113 miles, $329,075; surplus ovet· fixed charges, $24G: 261; from which paid dividentl.s ( l-0 per cent>, $ll4,4:W; surplus over dividends and interest, $131,841. See report in V. 46, p. 827. J.M. Robinson, Pres., Ba.lt., Md. -(V. 4-:i, p. 539,678,827 .) Seattle Lake Shore & Eastern.-(See Map.)-Main line com pleted from ::seattle t o Raging River, 52 miles. TheNort11eru branch from Snohomish Junction to a connMtion with lihe Ca.n. Paoifio is in pro,uess; 14 miles of this branch to Snohomisll are completed. and in operation. Other branches, 6 miles. Total completed n:ileage, 72 miles. The whole main line. Seattle to Spokane Falls, over 300 miles, is under contract, of which 40 miles more on the western end tLD.d 45 miles on the eastern will be completed and in operation this year; and the remainder of the ma.in line is to be completed by May, 1890. Construction work on 40 miles more of the Northern branch has begun, and it is very probable that the whole of this oranch to a connection with the Cana tia.n Pacific, 90 miles, will De uompleted within a year. (V. 46, p. 669, 739; V. 4 7. p. 382; v. 48, p. 38.) Shamokin, Sunbury & Lewlsburg,-Line from Shamokin to West Milton, Pa., with iron bridge over Susquehanna, 31 miles. The road was built by Philadelphia & R eading, and opened in 1883 for its coal traffic northward. Stock, $1,000,000; par $50. Shamokin Valley & Ptittsville.-Line of road, Sunbury, Pa., to Mt. Carmel, Pa., 27 miles; branch to Lancaster Colliery, 2 miles; t Jtal 29 miles. The Nad was leased February 27, 1863, for 999 years t<J the Northern Central R ,1,ilway Company, with a guarantee of interest on lihe bonds and 6 p er cent per annum on the $869, !50 stock (par $50), or which $619,400 is owned by Northern Central. Gross earnin~s tor 1887, $387,025; net, $2u2,l69. G ross earnings for 1886, $381,612; net. $216,934. Geo. B. Roberts, President, Philadelphia. Sheffield & Birmingham Coal, Iron & Railroad Co.This , oa.d is completed oetween Sheffield and Jasper, Alabama, 87 miles. In Sept., 1887, Sheffield & Birmingham Railroa d was consolidated with the Ala bama & Tennessee Coal & lron Oo. The new company o ;vns the rc:1,ilrvf,l,d, 70,000 acres of coal an i iron lands in Alabama and 60acres of land in Sheffield. Stock ts $7,200,000 pref. Mortgage of 181:S8 covers 3 furnaces, 70,000 acres of mineral hnds, &o. In Jan.. ll:Sb9, Jacob G. Uhamberlin wae appointed receiver, owing to e 11• barra.ssments grow mg out of the consolidation, failure of contractors, &o. E.W. Cole, President, Nashville. New York, office, 10 Wall Street -(V. 45, p. 4.41.) Shenandoah Valley.-FromHagerstoWE., Md., to Waynesboro and ~ence to a, connection with the Nortolk & western road at Ro noke. 239 miles and Lranches 17 miles. A close contra.ct ror working and an exchange of stockfor Norfolk & Western stock was made in 1883. In :March, 1885, Sidney F. Tyler was appointed receiver. The stock is $3,696,200, of which $3,057,100 ls held by the Norf. & West. RR. Co. From Ja.n.1 to Feb. 29 in '88 (2 mos.). gross earn's were$ l08,56.l, agst. $114,90 ..; in '87; deficit, $2,705 in '88, against surpl11s of $9,905 tn '87. In 1887 groBB earnings were $902,862; net, $129,31t:i; t:>tal deficit under fixed charges, $473,840. (V. 46, p. 40, '7 3 7 .> Shore Line (Conn.)-Line of road, New Haven, Conn., to New Lor.don, Conn., 49 m. LeasedtoN.Y.&NewHa.venRR. Co. inperpetuity Nov. 1, '70, at $100,000 net per annum. Dividends 3¼ in Jan. and 4 in .July. Operations ~net earnings are included in the reports of the lessee. Shreveport & Houston.-FromShreveport,La.,toLogansport, La. , 4 O m.; connects with Hous. East. & W. Texas road, formmg with tllata narrow gauge line of 230 m. from Shrevep' r. to Houst'n. E. I. Bremond, Pres. Silver Springs Ocala & Gulf'.-'.fb.is road is projected from Silver Springe, Fla., to Point Pinellos on ra.mpa. Bay, about 175 miles, and completed to Dunellon, 34 miles. Capital stock, $1,500,000. There is a land grant of 13,840 a.crea perm., of which the mortgage covers 4,000 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $1,302,900 5 on com. M. & N. Balt.,F11,rm.&Plant. Bk. 690,000 6 F. & A. Portsmouth, Va. 500,000 5 .T. & J. NewYork,Balt.&Phila.. 1,800,0 0 6 g. F. & A, N.Y., Union Tru .,t Co. 1,000,000 5 M. & N. Phila., Phil. & Read.RR. 500,000 6 F. & A. do do 869,450 3 F. & A. Philadelphia.,Treasurer. 2,000,000 7 g. .J. & J. ~o do 2,270,000 · 7 g. · J. & J. Last paid Jan., 1885. 4,113,000 6 g. A. & 0 . Last paid Oct.i 1884. 2,269,000 6 Feb. 1 None paia. f.20,109 ..6.g. J ..&..J. N. Y. Office, 10 Wall. 1,300,0GO 865,r,oo do do 6 g. .r. & J. 1,000,00() J. & J. do do 6 1,000,000 3¼1 J. & J. N. H., Nat. N. H. Ba.n.k. M. & s. do do 200,000 4¼ (!) 6 g. J. & J. 400,000 300,000 6 g. J. & J. N. Y., Agency. 4,204,160 .... 5 London. 114,539 5 g. J. & J. A. & o. N. Y., 68 William street. 4,850,000 6 J. & J. L'.lst paid July, 1888 1,130,000 6 Yearly._ •••....... 2,538,000 6 2,256,000 J. & J. 6 391,000 8 g. J. & J. N. Y., 50 Exchange Pl. 4,620,110 6 g. M. & N. London, Baring Bros. A. & 0. N. Y., 50 Exchange Pl. 1,960,000 6 F. & A. N. Y., 50 Exchange pl. 2,971,000 5 5,500,000 14 g. J. & J. N. Y., So. Pao., 23, Br'd Nov. 1, Aug. 2, July 1, Aug. 1, May 1, Feb. 1, Feb. 1, July 1, Jan. 1, April 1, Jan. 1, 1888 1916 1926 1931 1912 1924 1889 1901 1909 1921 1923 i: J aii: ·i 926 Ja.n.1,1926 Jan. 1, 1908 Jan., 1889 March, 1910 July 1, 1914. July 1, 1916 Feb. 1, 1888 On demand. Oct. 1, 1920 Jan. 1, 1931 Jan. 1. 1931 Jan. 1, 1915 Jan. 1, 1890 May 1, 1903 April 1, 1910 Aug. 1, 1936 July 1, 1937 (!) m . (1) 3,299,800 acres perm. The proceeds of land sales up to $100,00 >yearly go to retire the bonlla at 110 and accrued. int. Thos. C. Hoge, President, 56 Wall St. South Carollna.-Owns from CharleRton to Augusta, 8. C., 137 m. branches to Columbia, 68 m., and to Ca.m.den, 38 m.; extension, 4 miles, total mwn line and branches, 247 Jll. Default was made and the road sold in foreclosure July 28, '81, and the company reor,;anized. There were on Dec. 31, '87,$178,000 old 5 per c·t lat mort. extended bonds, payable 1887 to 1892, and $8,000 7s, due 1907, in addition to those above. On Jan. 1, 1889, the company defaulted on the 2d mort. coupons, and committee of bondholders was appointed in New York. ,.. From ,-i:anua~y 1 to June 30, 1883 (6 mos.), gross.earnings 'Yere $593.,03, agi:l,mst $.J32,156 in J. ;o. 87; net, $139,246, a.gamst $99,3 , 5. The annual report for 1887 was 1n the Ce:RONICLE, V. 46, p. 737, INCOME ACCOUNT. 1884. 1885. 1886. 1887. Receipts$ $ $ $ 388,604 358,427 159,858 Total net income ..... 320,683 Disbiirsements- lntereat on debt ...••. Miscellaneous .••.•••• 382,722 252 374,524 8,020 38:3,4a7 813 389,643 1,998 Total disbursem'ts.. 382,974 382,544 387,250 391,641 Ba.lance.............. sur. 5,630 def. 24.117 def. 227,392def. 70,958 -1V. 46, p. 737; V. 47, p. 140; V. 48, p. 69,\ South Florlda.-Owns from Sanford to Tampa, Fla., 115 miles; Bartow Branch, 17 miles; Pemberton Ferry Branch, 56 miles ; oper• &tea Sanford to Lake Charm, 18 miles-total, 207 miles. The road ia pa.rt of the S!!ivannah Florida & Western system. South & North A.labarna.-(See Map of Loui81'ilte cf Na.h'Dille.)-Owna from Decatur. Ala.., to Montgomery, Ala., 182 miles, with a branch of 6 miles from Elmore to Wetumpka. The road is controlled by the Louisville & Nashville RR. Company, which owns a majority of the stock and all of the second mortgage bonds ( i 1,960,000, due 1910) which are pledged with the Union 'l'rust Co. as security for the I ,ouisville & Nashv. bonds, dated June 1, '80. Common·stock, $1,469,082; pref. stock, $2,000,000 (all pledged under Louis.· & Nash. collat. trust of 1882); par $100. In yea.T f'nding June 30, '88, groBB earnings we.re $1,952,825; net, $333,893; deficit under Interest and sinking fund $417,557; paid to construction a.cot • $198,687. South Paclfl.c Coast (Narrow-•gauge).-Owna from Alameda to Santa. Cruz, 87 m..; branches, 23 m.; total, 110 m. The road is leased for 55 yeara to the Southern Pa.oiflo Company, which company guarantees the bonds. Trustee of mortgage is Farmers' L. & Tr. Co. The stock is $6,000,000. Gross earns. '86, $870,157; net.$303,284. In 1887 gross earnin~s were$521,639; net, $230,563, (V. 45, p. 113.) South Pennsylvanta.-The line was m progress between Ha.rrf.sb. & Pittsb., 225 miles, making a. western extension of the Phila. & Rea.ding system. In July, 1885. it was agreed that the Vanderbilt interest should be transferred to the Pennsylvania Oompany, and that company offered $6,500,000 3 p. c. bonds of the Bed.ford & Bridgeport RB,, guaranteed by the Penna. RR. Co. But tile Attorney-General of Pennsylvania brought a suit to enjoin the transfer, and this suit in Oct., 1886, was decided by the Supreme Court of Pennsylvania a.gainst the transfer. In 1888, a new arrangement was proposed for completing the ro2'd. (V. 46, p. 201,581,590,621; V, 47, p. 690.) Southern Central (N. Y.)-Owna from North Fair Haven, N.Y., to Pennsylvania State Line, 114 miles and branch 2 m. Had a. lease of the Ithaca. Auburn dz Westiern, b11t having defaulted on rental in Jan. 188 J , the road reverted to owners. The Lehigh Valley leased this road from Jan. 1, 1887, for 975 yeaes, without any guaranty of interest, and it is operated by the Pa. & N.Y. Canal Co. The consol. 5s are convertible into stock at option of holders witn n ten years, and $100,000 are held in trust to retire $90,000 of 7 per cent prior bond~ due 111 1899. Six coupons from Aug. 1, 1886, inclusive were funded into income bonds. Stock, $1,774,950; par. $100. Inl885-86, gross earnings were $467,068; nP,t, $51,,l52; in '86'-87, g-ross, $482,48:l: n3t, $23,394; deflch under interest, taxes and rental3, $182,827. (V. 44, p. 23.) southern Pacific COlUPA.NY •. -This corporation was o r g ~ Aug. 14, 1884. under the laws of the l:!tate of Kentucky. It holds most of the stock of the Southern Pacific of California. and the other ra.ilroa.da connecting with it to New Orleans, and leases ea.oh of those roads; also has a lease of the Central Pacific for 99 years. The stock ot each ot the said companies owned by the Southern Pacific Co. Dec. 31, 1887, and the percentage of net profits of the whole system payable under the lease to th6 several lessor companies are as follows: Bo. J:>ac. RR. Co. of California., $43,997,900, 26~ percent; Bo. Pao. RB. Co. of Arizona, $19,995,000, 12 per cent; So. Pa.c. RR. Co. of New Mexico, $6,688,800, 4 per c~nt; Mor. L. & Texas RR. & SS. Co., $4,.062,700, 22i. per cent; Ga.l. Harris. & Sa.n An. Ry. Co., $26,278,400, 16~ per cent; 'fe . icas & New Orleans Ry. Co., $5,000,000, 711! per cent; Louisiana Western RR. Co., $3,360,000, 31,i per cent; Mexican International RR. Co,, $1,172,100; New York Texas & Mexican, $605,000; South Paoiflo Coast,,• $6,000,000; Total, $120,159,900; Ga.Iv. Har. & San Ant., West. Dlv., 6&. $1.110,00ll; total stock and bonds, $121,269,900. From Jan. I to Nov. 30,Jn'88 (Umos.),grossearns.onthewholesyatem (5,931 miles) were $42,721,920, agst. $35,140,336 in '87 (5,544 miles); net, $14,862,085, a,gst. $U,2i6,466; adding rentals from leased. lines and other receipts, the total net income in f888 waa...$15,691,022; net profits over fixed charges, construction, improvements, &c., $199,153. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis R 0 T M U I M MAP OF THE B A olronument• 0 Canyon Cit.7 D .A. )11111 I RAILROAD STOCKS AND BONDS. JilUABY, 1889.] 191 hbtterlbers W'lll eonrer a creat taver by pvln,r Immediate notlee of any error dl•eovered. In theae Taltlea. Bon4L--Put' DESCRIPTION. INTEREST OR DIVIDENDS. Mllea Date Blze,or pal,WhAnDue.. Amount Par Outstanding of For explanation of column headings, &o., see not-es of Rate f.6r When Where PWiiable, and by aioeb-1Road. Bonds Value. on flrst page of tablee. om. Dividend. Cen . Payable --- --- ---· $1()0 $89,027,770 Bouthern Pacifi,c OOMP..tNY-Btook ($100,000,000) 5,931 guar. cp. or reg . . 384 ·1i'Pso 1,000 10,000,000 South. Pac. of ..trizona-lst H ., Boutk.Pac.(Oal.)-lat H., ~.,Ian gr.,cp.orreg., s. f. 1,042 '75•'82 500 &o. 33,4 ... 2,000 1,000 15 1880 230,000 Monterey, 1st M .. sink. fd. $5,000 y eady •••..... r Morl;'fage bonds, g old 1for $38,000,000) ..•..••••• 320 1888 7 ,250,000 ik>utliern Pacific of N. Maico-Mort., coup. or reg .. 167 1881 4,180,000 1:000 South~ , <la.J-Btock, 7 p. c., guar. Cent. Ga . .. 321 5,099,4.00 100 81 50 Southwest .Pen.n.syl1'an.ia-Stock .. •• . .•• •.••.......•. 998,850 1,000 1st mort. sink. t1md, $:50,000 yearly, not drawn r ...6 900,000 100 989,000 ~uyunDujtril ~P'tMor.-Stock, 8.%, gu.N.Y.Cent. 24 100. &o. tate Line Sullivan-lat M., conv. (red'ble att.'88) 200,000 13 1873 1,000 8taten Island-lat mortgage ..•.. . .•...•..•...••..... 300,000 1,000 8taten I11tan.d Rapid Tran ..:... lat M., $ or £. _. ....•. o* All. 1883 1,000,000 1,000 2d mort. endorsed by B. & O. cp. or reg., gold . .••. .... 1886 2,500,000 1,000 1885 Inoomea, gold (non-oam.) .••...•..••..••..•••. . .•.. 4.500,000 Btockwn" O<YJJPeropotis-lst mort., ~ar. by C. P.) ·45 1875 500 &o. 500,000 JJuburt>an Rapid Tran.sit-Stock ($'3, 00,000) ...••• .... 641,805 1st mortgage bonds (for $6,600,0CO) .............. <') 1:000 Bummit Branen (Pa.)-Stock . .. .. . ................. . ·20 4,010,350 50 20 1.000 1,185,000 let mo1;1aalf.e bonds, sinking fund ................. 43 1878 100 &c. Sunbury az.eton.'1 Wilkesb.-lst, $5,000 dr. atlOO. o 1,185,000 43 1878 lOU &o. 1,350,000 2d mortg~. income . . •...•• . ••••..•..•••.••• . ..••. 43 50 wiswum,-Btock ........................ Btmbury <I 600,000 43 500 ll!lt mortgage .. . ..................... . ............ o" 500,000 37 100 Suspension Bridge~ Erie Juncti on -Stock ..•• . ... c 500,000 1,000 23 isfo 1st mor~~e. principal & interest guar. by Erie. 1,000,000 160,00,'.) 5 00 7 1886 BJJracuse fl Baldwinst1ille.-lst mortgage, gold . .. c• 81 100 IJ'l/f'acUBe Bingll,a,mton ~ N. Y.-Stook ....••...•..••. 2,500,000 1,000 81 Consol. M. (11rin. and int. guar. by D. L. & W.) ..•. 1,966,000 57 1875 lOO&o. 111/racuse Gen.et/a <I Oornin.g-lst mort., s. f. 1 p. c .. c 880,000 1879 1.000 600,000 ~ 'iiew· yO,:;;:.i"stmo·rt.".".'.".: ::: ::~ ·43 18B3 1,000 900,000 2d morti?. inC'omf\ 1for $!',00,000) ..• .. .. .. .•.....•. ...... 1R~3 Nil -··· i·• .... is11 is19 iss6 is1°4 is1a is16 s:~~a:rio I ··a·g. J .•&.J. 6 g. A.& 0 . A. &O. 5 5 g. A. & 0. 6 g. J. & J. 3111 J. &D. M.& 8. 5 F. & A. 7 J. & J. 4 J. & J. 7 A. & O. 7 &O. A. g. 6 5 g . J . & J. 6 g. 5 g. J .•&•. J. ..6. 3 7 5&6 6 3 7 7 7 6 2 7 7 5 6 6 M:&N. N. Y.,Bo.Pao.Oo., 23 Br'd do do do do do do do do Sa.va.nna.h,Cent.RR. Bk. Phlladelphia,233 Bo. 4th do do N. Y., Gr.Central Depot. N' Y., Union Trust Co. N.Y., foot Whlrehall St. N. Y., Lond. & Glasgow. N. Y., Of., Whitehall St. do do S-.Y.,So.Pa.o.Co.,23 Br'd . -.. ..... "' Mar.:•i909-10 1905-6 & 1911 April 1, 1908 Aug., 19311 Jan. 1, 1911 Doo. 21, 1888 .-iept. 2~, 1888 Feb. 1, 1917 Jan., 1889 Jan. 1 1999 April 1, 1893 J&n. l, 1913 Jan. 1, 1926 Jan. 1, 194.6 Jan. 1. 1906 ·y93fi" F. &A. Phila., 233 So. 4th Bt. do J. & J. do M.&N. Philadelphia, Penn. RR. M &N. do do A. &O. Phila.., Gua.r. T . & D. Co do do J. & J. Feb.16,1878 Jan. 1, 1904. May 1, 1928 May 1, 1938 Oct. 1, 1888 July 1, 1896 J. ·&.-J. N. Y. Lake Erie & WMt. July·r··iooo J. & J. Jnly 1888, last paid. July 1.1930 Q.-Mar N.Y.,D.L.&W.Rli. Co. Deo. 1, 1888 do do A. & O. Oct. 1 1906 M..& N. };,Y.,Farmer&' L.& T.Oo. Nov.15,1905 M.& 8. N. Y., Gr. Cent. Depot. Mar. 1, 1909 None paid. 1933 J. &D. 1983 "' ... -·-· ... --.. Theannua.lreportfor'87wasinCHRONICLEV.46,p.64'!,6!'>1. E ~rn•sot C.sased to New York Central November 1, 1871, till Doo. 31, 1970. Rental is 8 per cent on capital stock of $989,000. the whole aystem includ'g 88. liues, in '87 and '·86, were as below given: 1.~86. 1887.State Line & Sullivan.-Owns from Monroeton, Pa., to Berenice, . 4 ,8 46 ,) 3 mile& 5 , 576 04 miles. Pa.., 25 miles. Stock, $990,000 (par $50). The mortgage ooven1 5,000 797 ,8 8 ~ $3 7 ,930, 162 acres coal lands. In .May, 1884, thi& road wu leaaed to the Penn. & N. Y. Gross ~arnings . ........ •· • •· • • •·· •·· •••• . $ 31 ,514 712 22 65 198 Canal & .RR. Co. for fifty yean1; rental, $40,000 per annum. , , , a Operating.!~pe..:,Ses . .... .. . . ......... ·••· l8, Earnings over operating expense.;i ....•. $13,283,226 560,691 Rentals reoeived......... .•••.••. . ••. .••• ' _.,. 111 - --- Total sUl'plus .. . ..................... . $13,843,917 Rentals pa.id ..••..•••.••• . ....•••.. •...•. $1,867,165 888,62l Tiles......................... .... ........ Staten Island.-Cll.fton to Tottenville, 13 miles. Capita.I me Jc $15,217,963 574,691 ori~iriltlly $210,000, par $15 per share, but being bought by company- - - - ,for $65 a share this is now taken as pal' value, and whole a nount 1111 $15 .792,654 :tt:<10,000. Leased to dta.ten Island Rapid Transit Co. for 99 years from $1,911,641 J~ly 31, 1884, at $80,'>00 per annum. Dividends in 1885-86 and in 1,0.!2,263 18cs6•87 6 percent 0.1 $65 sh~res. $2,933 .904 $2,755,787 $1:.!,858,750 Balance surplus ......... . ...... . ..... . ... $Ll,088,129 -(VA6, p.76, 201,539,648,650,651,771; V.47,p. 69,344.,-173, 776.) Southern Pacific or A.rlzona.-This is the connecting line of the South. Pacific of Cal., extending fl-om Yuma to N. Mexico boundary, 384 mllea. The stock is $19,995,000. The b'Jnds consist of Series A $6,000,· 000, due 1909, and Serie B, :S4,000,000, due 1910. Operated under lease to Southern Pacific Oo., the lessee paying all charges and also 12 per cent of the n et profit!! of the whole Southern Pacific system. In 1887 gross earnings were $1,756,519; net, $702,787. In 1886, gross, $1,525.221; net, $047,!'>92. (V. 44, p. 370.) Southern PacUl.c ( oC California). (See Map.)-LINE OF ROAD.The road in California is in two divisions-the North. Div. from San Fran. ~ Tres Pin8s, 10012 m.; Ca.rnadero Junction to Tt'mpleton, 139 m; and leased llile, Castroville Juno. to Monterey , 15 m.; Banta Cruz RR., 26 m .; llillsd ale to Almaden, 8 m.; total ln North'n Div1s'n, 288 m.;-tne South'n l>ivisi m, Huron via. 0-oshen to Colorado .Riv., 529 m .; Los Angeles via. Wilmington to ~an Pedro, 25 m.; t otal South. Div., 554 m .; tot al South. Pao. in Cal., 842 m. The Colorado Div. of 242 m. is leased and opera.Led by the Atl. & Pll,O. Ratiroa.d. ORG.A.NIZATION, &c.-Thfl Southern Pacific was a oonsolldation Oct. 12 1870, of several lines in California. The Central Pacilio RR. leased the southern d.lvision, but m March, 1885, this lease was annulled and the whole line was leased to the Southern Pacilio Oompany on the basis -Of lessees paying all charges, and giving to this company :l6½1 per cent of the aunuai net profits of the whole S. P. sys Lem. In Outober. 1884, lea~ed (and virtua.Uy sold) to the A. & P. the 242 miles of road ~xtend.lrtg rrum the Wt,dtern terminus of the A. & P. to Mojave, and right of way over the 8al ,oce of the line to San Francisco, at a. tixed t"ental. (See V. 40, p. 594.) BTOOK AND BONDS.-The authorized et.ock is $90,000,000, of which '45,994,800 is issued and held mostly by the Sout . Pacitto Oompany. The bonds above a.rem series A, B, C, D, E and F, of which A included IJ15,000,000 and B , C, D and E each $5,000,000, the balance beiug in series F; the bor.ds are issued at the rate of $40, JOO per mile on road and lands, except the Colorado Di vision, which is bonded at $30,· -000 per mile. rhe series A, B, C and D mature in 1905·6, the serios E .and Fin 1912. The bonds a.re a mortgage on the lands, and as proceeds of lands come into the hands of the trustees, bonds are purchased and retired. There ts also a sinking fund of $100,000 per year. Tne new mort~age for$ 18,0uO,OOO is d-trtei Au~. 25, 1888, to cover old line and new roads acquired. See V. 4 7. p. 49 t>. L.iliD GRA.NT.-Th~ land grant was 12,840 acres per mile, and proceeds ef ea.lea go to retire btuds. ·rhe total lands unsold Dec. 31,'87. were estimated at 7,500,000 acres, bat a large proportion of the lands is barren .and u i,eless for agricultural purposes without irrigation. In 'd7 th A sales were 777,000 acres for $1,935,548 ; land bonds redeemed, $871,500; land notea outstanding Doo. 31, 1807, $3,224,175. ln'B7 grod&earu's ot .North. Di,.were$1,727,245; net, $782,445. In '87 gross earnin_g s of Southern Division were $3,885,483; net, $1,268,6 i7. In '86 grnsse11,rn'gs or both divisions were $4,943,955; net, itil,879,939. - (V. 47, p. 490, 594.l 80athern Pacific oC New l'tle:xlco.-Road extends from Ari• sona State Line to the Rio Grande at El Paso, Texas, 171 miles. Oper• ated under le:.-,ae to Southern Pa.otllo Oompan.y, the lessee paying all charges and 4 ~r cent of net profits of the whole So. Pacitto 1ysiem. Stock, :ti6,8!:l8,800. Gross earnings in 1886, $667,196: net, t310,131; in 1887, gross $735,736; net. $313,408. (V. 44, p. 370.) 80uthwes&ern (Ga.)-Owns Ma.con, Ga., to Eufaula, 144 m., and branches 189 m.; the main one being from F't Valley to Columbus, 71 m . Leased In perpetuity Aug. 1, 1869, to the Central R.R. of Georgia, which assumes tne liabilities and guarantees 7 ~r cent on the stock, but 8 per cent is to be paid if 10 per cent is pru.d on Central at.ook. •oatllwe•t Peon•ylvanla.-Greensburg, Pa., to Fa.ircha.noo, Pa., , , miles. and bra.nohec;, 37 miles; total, 81 mUea. Opened April 1, 1873, and leased yearly to Pennsylvania RR .• which operatea tt at cost, pay• Ing net earnings as rental. P~nn. RR. owna $704,850 of &took and '600 000 of bonds. In 1887 gross ea.rrun.g1 were $8H,437; net, ea~JtS. $!22,7:ZO; surplus over 1lx.ed charges, $352,125; dividends (10 per oent), $90,903. 1n 1886 «roas. $756,139; neg. $399.330. 8puyseo Duyvll & Port l'tlorrl•.-Road is 6 milea in 1811Kth and oonneots the New York Central & Hadson with the New York &llarlem. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis !§taten Island. Rapid. Transit RR.-The line of road la around the Sta.oon lsl11,nd shore, esat and north sides, trom Vanderbilt Landin~ (junction with the S. I. Railway) to a point opposite Elizabethport, ~ 1. It ha.a a 99 yeara' lease of the 8. I. Railway and controJs the Femea to N. Y. City. In November, t885, the a.sn-eement with Bait. & Ohio was reported for making the terminals of that RR. Co. at St. George by means of a bridge over the Kills at Ellzabethport. The bridge was completed In June, 188~. The B. & 0. guarantees the 2d mort. bonds of this Co .• and owns a majority of its stock of $500,000. The income bon ls are held b y the B, & O. antt 8. I. R. T. Cos., one-half eaob. From Oct. l to Nov. 30 in 1888 (2 months) gross earnin~ wore $113,7 \6, againRt $11::J,9:}8 in 1887; net, $10,550, a .~ alnst $24,841. In year ending September 30, 1887, gross earnin~ of ferl'ies and rail• road were $~42,278; net., $22 .-J,il57; surplus over interest, taxea, ren• ta.ls, &c., $252. aee annual report, V. 46, p. 101. (V. 4.4, p. 495: V. 4.5. p. 212,643, 696; v. 46, p. 101,102,610, 803; v. 47, p. ao, 161, soa., Stockton & Copperopolls.-Stocktou to Milton and Peters to Oa.kd!),le,Ca.l., 4~ miles. Leased to Central Pacific Railroad Company for thirty yea.rs from January 1, 1875. By the terms of the lease the le&• see agrees to ()ay principal a.ud interest of the bonds. Capital stook. $234,500. In 1887, gross. $118,637; net, $55,'UO. Suburban Rapid Translt.-This company has built a bribe a.cross the Harle..o .River, N. Y . City, and is in operation to 161st StTeel, N. Y., "l. ½I miles. The line as lald out is 14·90 miles long. Little inrormatiou has yet been obtainable concerning its ttnanoes. In July, 1886 the Manhattan Elevated stocknolders were offered the privilege ol taking its stouk and bonds as follows: Each 100 shares of .Manhattan entitled to take 7 slla.res 8. R. 'f. Co., and 7·10 or a $1,000 bond. In year endlnl{ S ept., 30, 1837, gro~s earnings were $1~,'Z44; deficit nuder opera.tin~ expenses, $UJ,254. Samuel R. Filley, President, N. Y. Summit Branch (Pa.)-This company's business is almost en• tirely in mining ooal; it leases the Lykens Valltiy RR:, Milleraburg to Williamstown, Pa., 20 miles, and has a small branch of its own to Summit Mines, 1':I, of a mile The road is operated by the Northern Central under contra.ct. Penn. RR. owns :S ~. l ~0.100 stock and $500,000 bonds. In 1887 gross earnings were $1,358,814; net, $128,260; surplus over interest, $45,310: dettolt u11d-1r Lykens Valley detlcit, $55,051. In. 1888 gross, $1,442,671; net, $203,092.-(V. 46, p. 173, 228.) Sunbury Hazleton & Wllk.esbarre.-Sunbury to Tomhioken. Pa., 43 miles, Foreclosed. March, 1878 . Stock, $1,000,000, all own.eil by the Peilll. Railroad, whictl pays net earnings as rental. Sink. fund ror 1st mort. draws $5,000 yearly at par. Gross earnings 1n 188~ 'f;-154,699 ; net, $221,02-i; snr1•lus over charges, $77,725 : dividends (o per cent), $50,000. J. N. Du Barry, President, Philadelphia. Sunbury & Lewlstown.-Selinsgrove Junotton to Lewistown Pa., 43 miles. Leased for 99 years from July 11 .1876, to Pennsylvania RR. for contingent Interest 1D net earnings, wmch in 1884 were $106,· 855; in 1885, $168,268; 1n 1886, $123,536; in 1887, $156,709. Su•pen■lon Bridge & E~Ie .J'~netlon.-East Bllfralo Junotten to Nia.gars t<'alls and 8uspell8lon Bridge, 23 milea; Look. & Bllfr. RB. leased, 14 miles; total operated, 37 miles. Road opened January, 1871. Ct is leased to New York Lake Erie & Western Railroad Co. at 30 per oent of gross receipts, which a.re guaranteed to be not less than interest Oil bonds, $70,000 per annum. Loss to lesseea in 1887-88, $10,3~4.. Lea• sees own all stook except 297 shares. Syracuse & Baldwln■ vllle,-Owns Baldwinsville, N. Y., to Amboy, N. Y., on the Weiit Shore .Railroad about 7 miles. Btook la $60,000-par $100. D 3fa.ult w.ui ma.de on coupons dne Jan, liHm, ana. foreclosure proceedings a.re in progr888. In year ending Sept. 30, 1887. gross earnin~s were $11,196: net, $2,642; defl.oit under interea'4,558. In 18~7·8, gress, $15,78Z; net, $4,275. Syracuse Binghamton & New York. -Owns from Geddes. N. Y., to Binghampton, N. Y., 81 miles. Chartered as Syraou.se & BID• na.mton and opened Oct. 18, 1854; foreclosed and reorganlzod AprJI iSO, 1857, and controlled by Delaware Lackawanna & Weatern. In year ending Sept. 30, 1888. gross earnin~s were $908.084; net, $444.194.: surplus over charges and 4 peroentdlvtdend, $83,473, aga.inst,109,04.8 in 1886-87.-(V. 45, p. 2l2; V. 4ti, p. 610; V. 47, p. 161.) Syraeu•e Geneva & Oornlnar.-Owna from Oorntng, N. Y., 1ICt Genevar_~• Y., 58 miles, and Penn Yan to Dre8den, G mlle8; t:otal. M mile& 'J.'Ill8 road was opened December 10, 1877, and la leued. te STEAMSHIP https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, 1889.) RAILROAD STOCKS AND BONDS. 193 Subscribers ff'lll conCer a great Cavor by giving Immediate notice oC any error discovered In these Tables. Bonds-.PrtnclINTEREST OR DIVIDENDS. DESCRIPTION. - - - - - - - - - - - - - - - - - - - - - 1 Mlles Date Size,or .A.mount - - - - - - - - - - - - - - - - - 1 p a l , W h e n D n e . Par Outstanding Rate per When Where Payable, and by Stocks-Last of For explanation of column headings, &c., see notes of Dividend. Whom. Road. Bonds Value. _ _ _ _ _ Cent. Payable on first page of tables. rerre Haute cf Indianapolis-Stock ($1,988,150).... 114 1st mort. (provided for by con.sol. mort.) ...... c&r 114 Consol. mortgage for $2,200,000 ...... _........... 114 J'erre Ha'!~!~ ct Logansport.-Stock................... 182 93 1st mongage, guar. by Terre Haute & Ind'napolis 65 latM.,on Loga.na toSouth Bend(2don93m.),guar. l'erre Haute ci Peoria-lat mortgage, gold . . . . . . . . . . 173 Te:ros Oentrai-lst mortgage, gold . . . . . . . . . .•. .. . .•. 177 52 N. E. Div., mort., gold (2d on 177 miles).......... General mortgage, (pledged)....................... 228 f'exas cf N. Orkans of '74-lat mort,1r. landgr., coup 105 104 Babine Divia10n, lat mortgage, gold............... Debentures . . • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... f'exas cf Pacific-New stock, $50,000,000 ..........•. 1,487 1st mortgage, gold, coup. (Eastern Div.).......... 524 lat con.sol. mort. for $25,000,000, gold ......... c* 1,4.87 2d con.sol. M., income, non•cum. ($25,000,000), g.c* 1,487 54 fiogaRR.-lst mortgage, due 1882 and extended. Consolidated mortgage............................ • 54 20 Extension bonds........ .................••........ 7 Elmira State Line Railroad mortgage............. l'oledo Ann Arbor <f: N. Michigan-Stock............ 285 61 lstmort., South. Div. (T. A. A. & G. T.)........... lat mort., gold, Ann Arbor to 8t. Louis, Mich..... 106 20 1st M. T. A. A. & Mt. Pleasant R'y, gold ........ c* 61 1st M., Tol. A.. A. & Cadtilac Ry., gold ........... c+ l'oledo cf Ohio Oentrai-lst mort. gold, interest guar 196 isfa 1883 1887 1879 1881 1884 1875 1882 1883 i875 1888 1888 1852 1876 1875 ~~~~ $50 1,000 1,000 50 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 100 100 1,000 1,000 1,000 ·ioo 1,000 1881 1,000 1884 1,000 1886 1,000 1896 1,000 1885 .. .. '85,7,8 1 ~85 ~100 &c. 1,000 1888 1,000 1887 .... . ... 1888 !ix!::~~a"r:·coi~&·Nor: is·t·M: ·45 2so ro~i:~:;i~r{v-~f2~ist·M.:·new·ifor$5;ooo.oooi~~: Borip for coupons in 1888 (payable at will)......... rl8Jo~u~~los3~~,~ isfa 1885 $l,401,880 1,600,000 30v,OOO 500,000 500,000 1,000,000 1,800,000 2,145,000 1,254,000 2,28!:>,000 1,620,000 2,075,000 584,000 38,706,700 3,784,000 21,049,000 23,227,000 239,500 125,000 265,000 160,000 5,300,000 1,260,000 2,120,000 40:>,ooo 1,260,000 3,000,000 709,000 650,000 (1) 4,501J,000 135,000 3 7 5 F. & A. N.Y.,Farmera• L.&Tr.Co Feb.l, 1889 do do A. & O. April, 18»3 do do J. & J. July 1, 192:5 ··tr J ..&..J. N.Y.,Farmers'L.&Tr.Co. Jau.~·i:·1910 do do J. Jan. 1, 1913 S. N. Y., Union Tr. Co. Mar. 1, 1937 N. Last paid Nov., '84. Nov.1, 1909 N, Last paid Nov., '84. May 1, 1911 None paid. N. Nov. 1, 1934 A. N.Y.,So.Pac., 23 Broad. Aup;, 1, 1901 do do S. M:aroh 1, 1912 do do J. 1893 6 J. & 5 g. M. & 7 g. , • & 7 g. ,\1. & 6 M. & F. & 7 6 g. M. & .r. & 6 ..6.g. M_-&·s. N.Y.,Mer'leTr.Co.&Phil Mar0Ji·i:·i905 June 1, 2000 Dso. 1, 2000 Nov. 1, 1915 Nov. 1, 1896 ect. 1, 1905 Oct. 1, · 1905 5 g. J. & D. do do 5 g. M!l.rch 1 5 M:. & N. Phil.,Newbold Sons &Co 7 M. & N. N.Y., N. Y. L. E. & w. 7 A. & 0. Elmira,ChemungCo.Bk. 7 do do A. & 0. 6 6 6 6 5 .... ---· g. J. & J. N.Y.,Farmera L.&Tr.Co Jan. 1, 1921 May 1, 1924. g. M. & N . N.Y., Central Tr. Co. g. lM. & S, N.Y.,Amer. L. & Tr. Co. Sept. 1, 1916 g. M. & 8. N.Y.,Offlce , 150 B'way. Marohl, 1917 g. J. & J. N. Y., Central Trust Co. July 1, 1936 . .... ..•.. Var'a. 6 &7 6 g. 1M, & N. N.Y., Farm. L. & Tr.Co. 5 g. lM. & N. N. Y., Am. L'n & Tr. Co. New York. 4 g. J. & .T. do April. 4 Byinatallm'ts• . May 1, 19;1.5 Nov. 1, 1938 July 1, 191?' April 1, 1893 the Fall Brook Coal Co. at a rental of 331 3 per cent of its in'OSS earn the income bondholders may take control. (See mortgage abstracts, ings. Stock is $1,325,000 (par $tom, of whiob N. Y. Cent. & Hud. R. CHRONICLE, V. 47, p. 82.) Range of stock prices since May 9, 1888, of new atook, have been: -owns $662,600, besides $113,000 7 per cent bonds. In 1884-85 ~-ross ~a.ming-,. wer,, $671,690: net, $163,611; rental, $223,897; taxes, $10,· In 1888, 18 7s@26¾; in 1889 to Jan. 18, 20%@23. In 1885 the gross earnings were $5,826,401, and the net, $1.095,619. li59; deficit to lessee, $70,844. In 1836, gross earnin 6 a were $6,042,305; in 1887. $1>.183,769, (V. Syracuse Ontario & New- York.-Owns from Syracuse, N. Y., v. 45, p. 240, 803. 401,614,643, 821; v. 46, p. 134, 171, 321,539. to Earlville, N. Y., 45 miles. The road was twice sold in foreclosure 610, 621, 69~, 819; V. 47, p. 82,_83, 344, 532, 690.) and reorganized under present name in. 1883. The West Shore acquifed control of the property. Stock. $404,60,0-par, $100. In year endmg Tloga.-State line junction, N. Y., to Hoytville, Pa., 61 miles, and Sept. 30, 1887, gross earnings were $98,941; net, $9,54.0; deficit, $44,461. Blossburg, Pa., to Morris' Run, Pa., 3 miles, of which is leased Elm1l'a State Line Railroad, State line New York to Northern Central RailTennessee 1'Ildland,-Owns Memphis to Jackson, Tenn, 86 miles. way Junotion, 7 miles; and Arnot & Pine Creek RR., Arnot to HoytExtension, 50 miles, to Tennessee River in progress. ville, Pa., 12 miles. Controlled by N. Y. L. E. & W. In 1887 gross Terre Haute & lndlanapolls.-Owna from Indianapolis to Illl· earnings were$363,044; net, $l27,851; surplus over interest, rentals, &c., $57,845. The stock is $391,200 common and $189,700preferred: noia State Line, 79 m., with coal branches, 35 m.; total, 114 m. The road par $50. WM opened in 1852 (as Terre Haute & Richmond). The company leases and operates the Terre Haute & Logansport RR., also the St. Louis Toledo A.nn Arbor & North 1'Ilchlgan.-(See Map.)-OW118 Vandalia&TerreHauteRoad onjoint account with the Pittsb. Cm. & St. from Toledo, 0., to Cadillac, Mich., 235 m., and branches to South Lyon Louis RR., at 30 per cent of gross earnings, but guarantees the first and and Macon Stone Quarry, 10 m.; leases Tol. Sag. & Mackinac, EMJi second mort. bonds. In June, 1887, a controlling interest in the stock Sa~inaw to Durand on Det. Gr. Hav. & Mil., 40 m.; total, 285 m. In was sold to Cincinnati Hamilton & Dayton, but pledged by H. S. Ives as December, '87, the connecting road to Muskegon was opened. Capital security for loans and payment of notes, and matter is now in liti- stock is $5,300,000; par $100; oar trust debt, $92,364.. The first mortg. gation. In 1A85·o gross earnings $1,053,090; net earnings and other of '81 covers the South. Div., formerly called the Tol. A. A. & Gd. Trunk receipts. $366,672; interest and 6 per cent dividends, $ '2 46,289; loss RR., and the mortg. of '84 covers road between A.nnArborandSt. Louis, on T. H. & L. lease was $89,482. Dividends since 1876 h ·w e been: Mich. A full statement on May 26, '88, to N. Y. Stock Exohange was in In 1877, 6 per cent; from lli78 to 1884, inclusive, 8; from 1885 to date V. 46, p. 772. The annual report for '87 was in V. 46, p. 537; gross at the rate or 6 per cent per annum. No iaformation received since earn's being $535,753; net, $193,147; aurp. over int., $8,347. James 1886. tV. 44, p. 714, 751; V. 45, p. 85; V. 46, p. 32 l. l M. Ashley, Prea't, 150 Broadway, N. Y. (V. 45, p. 768; v. 46, p. 637, 771, 382, 442, 473.) Terre Haute & Lo~ansport.-Owna from South Bend, Ind Toledo & Ohio Oentral.-Owns from Toledo, 0., to Co~, 1s,, to Rockville, Ind., 159 miles; leased, Rockville to Terre Haute, 22 miles Total operated, 182 miles. Formerly Loganap. Crawfordsv. & Southw. miles, including 12 m. leased; 'J.'hurston to Columbus, 29 m., including which was sold in foreclosure Sept. 10, 1879, and reor~anized under 5 m. leased; total owned, 1~ m. Leases also: Corning to JaokElonville, present name. Leased by Terre Haute & Indianapolis ..l:(ailroad for 99 12 m., Glonater to Carllington, 11 m.; to-i;al leased, 4.0 m.; total ~ears from Dao., 1879, at 25 per cent of gross earnings, and first operated, 237 m. This company was formed after ea.le in foremortgage bonds guaranteed hy that company. Rental in 1885·86, closure of the Ohio Cent. main line on April 15, '85. The preferred stock is $3,750,000; common, $1,592,000: par both $100. The pre$119,759; loss to lessee, $89,482. No late information. ferred is entitled to 5 per cent non-cumulative, then common to 2 per Terre Haute, & Peorla.-Road operated from Terre Haute, via cent, then preferred to 2 per cent, after which both share equally. The Decatur, to Peoria, 173 miles, of which 144 miles are owned. Formed in first mortgage is for $5,000,000, but no more than $3,000,000 can .Jan., 1887, as successor of the Ill. Midland, sold in foreclosure Sept. 30, be issued except by consent of three•fourths of the present bondhold1886. That road embraced by consolidation the Peoria Atlanta & Dec• ere. Pref. stock issued iu 1888 was for terminals, etc. The bonds have atur, Paris & Decatur and Paris & Terre Haut('\. Stock, $2,160,000 their interest guaranteed by the Col. & Hocking Valley RR. Co. and the pref. and $3,240,00u com.; par $100. The bonds wl're issued to pay off stock of Col. & H. V. Co. was given in exchange for fol. & O. C. stock receiver's certificates and to furnish money for steel rails, equipments, on terms noted in V. 40, p. 597. An increase in stock in the amount of ~257,000 is proposed to meet claim arising out of reorganization. '10. Gross earnings in 1887-83, $313,630. (V. 44, p. 184, 495.) From July 1, 1888, to Nov. 30, 1888 (5 months), gross earnings were •.rexas central.-Line of road from Ross, in McLennan co., to Alba.Jly, Texas, 177 miles; Garrett to Roberts, 52 miles; total, 229 $549,151, against $501,186 in 1887: net, $ L78,615, against $182,434. Fiscal year ends June 30; report for 1887-88 was in CHRONICLE, V. JD.ilea. Ia controlled in Houston & Texas Central interests, by which RESOURCES OF THE YEAR. eomp~y it is operated; but accounts are kept aepai:ate'. The authorized 4 7 • P• 531 · stock 1a :i:;1,000,000; total is uect, $200,265, or which H. & T. c. holds, 1887-8. $50,000 ; Morgan Co., $75,000: directors, $5,300. Defaulted in interest 1886-'T. $29S,804. tn 1885, and roait was to be sold June 29, 1887, but delayed by an ap• Net earnin~s ..•..•........••••••••••..•....•.••• $3n0,828 10,22~ peal. In 1887, gross, $231,522; defl.<:it under operating expenses and rncrease or unfunded debt.................... 416,558 235 Reorganization committee..................... taxes, $32,132. (V. 44, p. 495.l --Texas & New- Orleans (oC 18'74).-Houston, Tex. to Orange $371,291 $705,362 Total. .••..............••..•..........•...... (Bab1nEi River), 104 miles; and Sabine City to Rockland, 104 miles; DISPOSITION OF RESOURCES, iotal ..!08 miles. Belongs to the Huntington Southern Pacific system, l8S7-8. together with the Louisiana Western. This was a reorganization, 1874, 1886-7. $ 50 ooo 1 d d d bt t of the old Texas & New Orleans RR. The stock is $5,000,000, and I t $150,000 e · · · · •• · · · · · • • · • · · · · · · · · · 1 • un e a controlling interest is owned by the Southern Pacific. In addition to n eres on 0th 12,217 13,979 er roads.·················•······· above bonds, there a.re $462,663 Texas School bonds. From Jan. 1 to Rentals of 22,341 31 , 123 Nov. 30, in 1888 (11 months>, gross earnings were $1,312,270, against Conatruotion ····· ····••·· ··· ··•········ ··•····· 492,750 Equipment .... . ··········•··••·•••••·····•····•· 124,4.91 ~l,148,438 in 1887; net. $381,286, against $324,963. 23,068 35,628 Gross earnings in 1887 were $1,267,563; net, $563,353. c. P. Hunt- LntereS t on car trusts·························· 4,986 Interest on floating debt, &c ...••..••.........• ~6,070 lngton, President, New York. $371,291 •••.•••.••••••.••••.•••.•••.••..••••••• Total. Division Eastern follows: as Texa• & PacUlc.-Road owned $705,36S v 5 2 0 3 1 572 v · 47• p. 2 8 4 • 327• 631 , 626 ) From Texarkana to Marshall and thence to Fort Worth, 253 miles; ; Texarkana Junction to Whitesboro, 239 miles; Marshall to Shreveport, -( • 4 • p. 4 • 4 • Toledo & Ohio Central Extenslon.-(See Map )-This oompa,. 4.0 miles; total eastern division, 332 miles. Rio Grande DivisionFort Worth to Sierra. Blanco, 524 miles; Sierra Blanco to El Paao(joint pany secured control in 1888 of L\iarietta Columbus & Northern, Marl• track), 92 miles; Gordon Branch to coal mines, 3 miles; total Rio etta. to Joy, Ohio, 41 miles; branch to otewart, 4 miles. Extension 1n Grande division, 619 m. New Orleans IJ1vision-(Formerly N. o. Paci- progress from Joy to a connection with the Toledo & Ohio Central at fto RR.) Shreveport ~o N. o. and Batou Rouge Branch, 336 miles. Newton, 15 mlles. Total mileage will be 60 miles. Consolidated mortg-age i ;iaued for above extension and for equ1pment, and $650,000 held Tota.l of all, 1,487 nnles. The Texas & Paci11.c was built under act of Congress of March 3, 1871, in eaerow to pay oft' the M. C. & N. let morti,;age at maturity . Toledo Peoria & Western.-Road owned from Indiana State .and other acts in 1872 to'74, and the laws of Texas. lo 1888 the company was reore:anized pursuant to the pla.n in V. 43, line to Warsaw, Ill., 2t0 miles; branch, La. Harpe to Iowa, Ill., 10 miles; p. 164 and V. 45, p. 401, without having the Court confirm the sale in tracks leased to Peoria and to Burlington, Ia., 17 miles; total operateg. toreclosure made iu Nov., 1887: and on Oct. 30, 1888, an order was 247 miles. This was formerly the Tol. Peoria & Wa.rs11W, then the Toi. made discharging Gov. Brown as receiver, he afterward taking the P. & Western, and was leased to Wabash; sold in foreclosure Oct. 29, 1886. Stock is $4,076,900; par of aha.res $100. Abstraet of mortgage presidency of the company. A Land '!'rust was formed, and its stock issued to holders of the land (Charles Moran, Thomas Denny and Cornelius B. Gold, trustees) V. 45, scrip and the income land mortgacie bonds, and the certi11.cates of p. 242. In oonaequence of the Chatsworth accident in August, 1887., $10,36~,410 are listed at New York Stock Ex:chaoge. 1See V. 47, p. 83.) the company wa.a obliged to fund the January and July coupons "These ard in the SUPPLEMENT under the title Texas Pacific Land Trust in 1888, paying $5 per ooupon in ca.sh and funding the La.lance in 4. per cent scrip certifl.catea, (interest payable April 11, due April 1, 1893, tn "Miscellaneous Companies." TrllStM of first mortgage of 1888 is Fidelity Ina. Tr. & Safe Dep. Co. but redeemable at option ot the company. ln year ending June 30, -Of Phiiadelphia; of aecon~ mortgag~ of 1888 Mercantll>i Trust Oo. or 1888, gross income was $948,524; net, $199,084..-(V. 45,p. 232,242, · .N. Y. Unless fnll interest 1s paid on mcome bonds after Ma.roh 1, 1 ~92, 573; V. 46,p. 539,669,771,772; V. 47, p. 42, f27.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. [VOL. XLVl IL MAP OF THE TOLEDO, ANN ARBOR A.ND NORTH MICHIGAN JANUARY, 18SP.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS.' MAP OF THE oEagle Mills 0 Kingsbury 125 INVESTORS' SUPPLEMENT. [VoL. XLVIII. Subscribers -wm conf"er a great Cavor by giving Immediate notice oC any error discovered ln these Tables. Bonds-PrinclIN'I1i:REST OR DIVID~ DS. DESCRIPTION. Miles Date Size,or pal,When Due. Amount Rate per When of Par Outstanding l'or explanation of column headings, &c., see notes of Where P-wiiable, and by Stocks-Last Road. Bonds Value. Cent. Payable on first page of tables. om. Dividend. roledo St. L. & Kansas Oity-Stock .••..•.. ..•....••. Pref. 4 per ct. coupon stock, non•oumulative ...•. 1st mortgage, gold (redeemable at 105) ..•...•. c* roledoSag.&Mitskegon-latM.,g.,$17,000p.m.c"&r Tonawanda Valley& Ouba-lat mort. ($500,000) .. flyrone d! Olearfi,etd-Stock, 5 p. c. rental, Penn. RR. 1st mort. ($100,000 cumulative), sin.king fund. r Ulster d! Delaware-lat mortgage .••.......•...•... c -- ---· -451 - ·.... $100 $12,250,000 451 451 96 60 99 . 74 i886 1888 1881 ... 1882 1875 1875 2d mortgage income bonds ...............•..•.... c '74 467 d! Oanal Oo's.-Stock, 10 p. c., gu. Gold bonds ......•...•.............................. General mortg.,gold and currency ............... c 238 1873 .... 1871 UD.l.wa Co.'s mort., s. fund $40,000, not dr'n .... r do sterling M , s. fd. $36,920, not dr'n. .... 1871 do do s. fd. $36,000, not dr'n . .... 1871 1878 do gold loan ..•.......................•. r .Joint Co.'s plain bonds, to be replaced by 4s ..... .... 1854 do Consol. M., to be replaced by 4s. c&r .... 1862 do New 4 percents for $6,000,000 ... ___ 1889 Union Pacific-Stock ................................. 4,764 1st mortgage, gold, on road and equipment ....... 1,0.38 1866·9 :2a. mortgage currency (Government subsidy) .... 1,038 1866·9 3d do on road (2d on land), sink. fund.c&r 1,038 1874 Land grant bonds, not drawn ..................... .... 1867·9 ' -Omaha bridge bds, (s.f.,-surrender optional).c+ &r ..... 1871 do do renewal (s.f. not drawn). ·····-··c .... 1835 -Collateral Trust bonds, drawn at 105 ............ .. ·-· 1879 Collateral trust oonds of 1883, gold, sink. fund .. .... 1883 Equip. bds., Ser. A&B, 1 10 paid yearly, not dr'n .c* 1887 Kan.P.,cons.M.for $30,000,000,1.fi.,g.,not dr'n.c .. 673 1879 do 1st M., Eastern Div., 16,000 p. m .... 140 1865 llnited N. J. RR. ---- isss ---· 4,805,000 100 1,000 9,000,000 1,734,000 $or£ 1,000 500,000 1,000,000 50 1,000 1,000,000 200,000 1,000 1,342,600 500 &c. 100 21,240,400 1,824.,000 1,000 1,000 5,669,000 1,000 2,000,000 £200 1,846,000 200 1,800,000 $1,000 841,000 1,000 866,000 5,000,000 100 &o. ·ioo 1,000 1,000 1:000 £200 1,000 1,000 1,000 1,000 1,000 1,000 Toledo St. Louis & Kansas City.-(See.Jfap.)-From Toledo to East St. Louls, 451 m. Up to Sept., •as; the road had been made standard gauge from Toledo to Charleston, Ill., 319 m., having connection there wi·h St. Louis over the Indianap. & St. L. Road. This Co. was formed June 12, 1886, by consolidation, and it took all the main line of the U'oledo Cin. & St. Louis narrow gauge road, foreclosed Dec. 30, 1885. The present common stock and the tirst mortgage bonds were issued tor the purchase of the property, payment of receiver's liabilities, broadening the gauge, &c., &c., and $4,000 per mile of said mortgage bonds were reserved for obtaining standard gauge equipment. The preferred stock is a coupon stock, non•cumulative, and without voting power; the bonds may be paid off at 105 on notice. Provision bas been made for interest till 1889, or longer should construction not be finished and earnings be insufficient. All the securities are yet held in trust ex• -0ept $4,805,000 pref. stock and $4,000,000 common stock and such proportion of the bonds as ha~e not yet been used in connection with 'the work of construction. .Abstract of mortgage (Am. Loan & Trust Co. -0f N. Y. and Joseph E. McDonald, trustees), in V. 45, p. 403. (V. 46, p. '!17, 819; v. 47, p. 188, 344.) Toledo Saginaw & lliuskegon.-Fi'om Muskegon to ARhley, 'Mich., U6 m,, connecting wlt.h the Toledo A.nn Arbor & N. Mich. In '88 passed under the control of the Grand Trunk of Canada, and above t,'ds were issued having a traffic gtiar. from that road and the Chicago & Grand Trun.lL-(V. 45, p. 768; V. 47, p. 161.) Tonawanda Valley & Cuba.-Owns from Attica, N. Y. to Cuba, B. Y., 60 miles. Stock $587,100. Mr. Bird W. Spencer was appointed Teceiver in 1884 and suit against N. Y. L. E. !r. W. is pending in Court --Of Appeals; won by Receiver in Supreme Court at General Term. -Gross earnings in 1887•88, $17,381; deficit, $1,153. (V. 45, p. 7ti8.l Tyrone & Clearfl.eld.-Vail, Pa., to Curwensville, Pa., 46 miles; t>ranches, 53 m.; total, 99 m. _ This Co. was leased to the Pennsylvania !:Ut. for 50 years in '82 at $112,400 per annum. The tonds have a sinking fund of $10,000 per year if they can be purchased at or below par. All stock and bonds are owned by the Penn. RR. Dividends of 5 per -eent are paid yearly. J. N. Du Barry, President, Philadelphia, Pa. Ulster & Delaware.-Owns from Rondout (Hudson River), N. Y., ,to Stamford, N. Y., 74 miles; branch to Hobart, leased, 4 miles; total 78 miles. Stock $1,152,100; par $100. There is also a $50,000 7 per -cent real estate mort. In year ending Sept. 30,'87, the gross earru. were -$353,535; net earns., $130,711: surplus over interest, taxes, etc., $68,963. In 1887-88, gross, $359,786; net, $93,522; surplus over '<lharges, $32,657. Thos. Cornell is Pres't, Rondout. N.Y. (V. 46,p. 669.) United Ne-w .Tersey Railroad & Canal Co.-LINES OF ROAD..fiew York to PhiladelP.hia and branches; 13"5 miles; Camden to Amboy and branches, 247 miles; Trenton to Manunka Chunk and branches, ~5 miles: total operated, 467 miles. Delaware & Raritan Canal, 66 miles. · The United N. J. RR. & Canal Cos. were leased in May, 1871, to the -Penn. RR. for 999 years, at a rental of 10 p. c. on the ,itock, oesides in• terest on bonds. The smaller leased roads were taken with their several contracts. The lease has not. been directly profitable in cash receipts to the Penn. RR., and the net loss in 1879 was $939,889; in 1880, $1,035, 308; in 1881, $302,864; in 1882, $568,759; in 1883, $635,914; in 1884, $593,536; in 1885, $159,4.96; in 1886, $179,016; in 188 7, $227,· --991; but the connection with New York was indispensable. Opentions .-and earnings are included in the Penn. RR. report. Sinking funds Dec. .81, 1887, held securities of par value of $4,464,100, and cash, $70,151. Union Paclfl.e RaUway.-(See .Map.)-LINES OF ROAD.-Main tine-Council Bl:iffs to Ogden and· branches, 1,049 miles; other branches-Kansas City to Denver. 643; Denver to Cheyenne, 106; Leavenworth to Lawrence, 34; total owned, 1,824 miles; controlled and operated in the Union Pacfic system January, :J..888-0maha & Repub.Valley RR., 470 m.; Colorado Central RR., 327; Echo &Park City, 'RR,, 31; Utah & Northern RR., 4ti6, of which 58 m. are leased to Montana Union RR. ; Lawrence & Emporia RR., 31 (leased-not operated); Junction City & Ft. Kearney, 88; Solomon RR., 57; Salina & Southw'n. 35; Kan. Cen., 167; Den. & Boulder Valley., 27; Oreg-on Short Line and :branch, 611; Greeley Salt Lake & Paci:fl.c, 63; Denver Soath Park & Paclfic, 325; Salt Lake & Western, 57; Georgetown Breckenridge & Leadville, 8 miles; Denver & Middle Park, 4 miles; Denver Marshall & Bould· -er, 27 miles; Laramie No. Park & Pac.,.14 miles; Salina Lincoln & Western, 73 miles; Cheyenne & Northern, 123 mileP; Oakley & Colby, 22 miles; total thus controlled, 3,029 miles, of which only 2,940 are operated. Total operated in the U. P. system Jan. 1, 1888, 4,764 miles. The lines of the Oregon Ry. & Nav. Co. (752 miles) and of the St. .Joseph & Grand Island (447 miles>, though leased respectively by the <Oregon Short Line and the Union Pacific, are not included in above mileagP, each having an independent mana~ement. The Central Branch Union Paci:fl.c and leased lines (388 miles) a.re .oporated by the Missouri Paci:fl.c under an agreement with Union Paci:fl.o tor twenty.five years from 1885 and not included in the mileage operated by Union Paci:fl.c. The U. P. also has large interests in the Utah >Central, 280 m.; Leavenworth Topeka & 8. W., 47 m.; Manhattan Alma -& Burlingame, 56 m. and Nevada Central, 93 m.; Montana Union, 73 m.; Montana, 19 m.; Utah & Nevada, 37 nilles; South, Park & Leadville :Short Line, 8 m ., Ogden & Syracuse, 6 m . . Total of all lines which are ,operated separately, 2,236 miles. In 1886 a lease of the Oregon Railway & Navigation Company to the Oregon Short Line, guaranteed by Union Paci:fl.o was negdtiated. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (1) 60,868,500 27,147,000 27,236,512 13,920,000 966,000 1,293,000 328.000 4,197,000 5,317,000 1,289,000 12,978,000 2,240,000 . -·· 4 6 g. 5 6 21g 5 7 7 21g 4 6 g. 6 6 g. 6 ~6 g. 6 6 ··is.i ·--J..&.. J . ........ June· Ci91a July 1, 1918 Sept. 1, 1932 Dec. 30, 1888 Jan. 1, 1912 July 1, 1905 July 1, 1905 Jan.IO, 1889 Feb. 1, 1923 Mch. 1, 1901 Oct. 1, 1894. Mch. 1, 1894. Moh. 1, 1894. Sept. 1, 1908 Jan. 1, 1889 Nov. 1, 1889 Q~.:.:j, N. Y., Un. Trust, & Bost. Aiffi";-is8! 6 g. J. & J. J. & J. 6 M.& S. 8 A.. & o. 7 8 g. A.. & 0. g. A. & 0. J. & J. 5 . J. & D. 5 6 g. M_-&·N. 6 g. F. &A. g . -·· ...... N. Y., Bk. of N. Amer. New York City Last paid, March , 1884 Phila., 233 South 4th. Philadelphia Rondout, Co.'s Office. New York. Phila. and N. Y. Offices. Phila-delpbia Office. do do Pbila., Pennsylv'a RR. Lond ..J. S.Morgan & Co. do do Phila., Penn. RR. Office. Princeton, N. J . M.&N. Philadelphia, Office. ( & D. J. & J. M.& S. J. &D. J. & J. J. & J. F. &A. Q.-J. F. & A. M.& 8. A.. & o. M.& S. M.& 8. M.& S. J. &D. do do U.S. Treas., atmatl!lrity. N. Y , Un. Trust, & Bost. do do London & N. Y., Un. T1'. N. Y., Union Trust Co do do Boston,N. Engl'd Tr.Co. N.Y., Un. Trust, & Bost. N. Y., 40 Wall Street. do do 1 96 to 1899 1896 to 1899 Sept. 1, 1893 April 1, 1889 April 1, 1896 Oct. 1, 1915 July 1, 1908 Dec. 1, 1907 1-10 yearly May 1, 1919 Aug. 1, 18915 ORG1.NIZATION, &c.-This company, the Union Pacific Railway, was formed by a consolidation, Jan. 24, 1880, of the Union Paci:fl.c RR. and the Kansas Pac. and Denver Pac., made under authority of the acts of Congress of July 1, 1862 and July 2, 1864. The Union Pac. RR. was chartered by A.ct of CJngress of July 1, 1862, which gave the company a land grant of 12,800 acres per mile, estimated at a total of 12,083,227 acres, and a subsidy in U. S.bonds of $27,2~6.512 on 1,033 miles of road. The Kansas Pacil!.o was organized as "Leavenworth Pawnee & West ern" in 1861; then changed to "Union Paci:fl.c, Eastern Division," June 6, 1863, and to "Kansas Pacific" on March 3, 1869. The Paci:fl.c Rail• road acts of 1862 and 1864 applied to this road, and gave it a subsidy of $6,303,000 and a land grant of about 6,000,000 acres. The Denver Paci:fl.c-Denver to Cheyenne, 106 miles-was built under the charter of the Union Paci:fl.c, E. D. (Kansas Paci:fl.c). · A.a to the debt of the Paci:fl.c railroads to the United States Govem• ment a decision of the U. 8. Supreme Court settled the point that the payment of interest on the loans was not obligatory on the companies till the principal of the bonds became due. Afterwards Congress passed the Thurman Act, May 7, 1878, which, for the Union Paci:fl.c, 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 Gove1nment as follows : FirstA.pplied directly to interest account, one•half of Government earnings and 5 per cent of net earnings, after deducting interest on first mortgao-e bonds. Second-To be placed in the sinking fundthe other hall of the Government earnings and so much of $850,000 a.a may be necessary to make all the payments by the company equal 25 per cent of its net earnings. On Dec. 31, 1887, this sink. fund invested in U. S. bonds (par value) was $6,273,6n0, and the premium paid on bonds and cash uninvested was $1,620,154; total, $7,893,804. STOCK AND BONDS.-The capital stock issued and outstanding 11 $60,868,500, having been increased about $10,000,000 since the consoli• dation in 1880. Dividends after 1879 were as follows: in 1880, 6 per cent; in l881, 634; in 1882z 7; in 1883, 7; in 1884, 3½; none since. The yearly range in prices or the stock has been-In 1880, 80@1132\; In 1881, 105½@13134; in 1882, 98 14@11934; in 1883, 7018@104l\f.: in 1884, 28@8438: in 1885, 41 @6234; in 1886. 44)4 @6814; in 1887, 44'@63ll,f.; in 1888, 48@6612; in 1889 to Jan.18, inclusive, 63½'8)6518. There are $18,000 Leavenw'th branch 7 pAr cent bonds due Jan., '96, and $8,000 Den. Pac. bonds. Of the Union Pacific collateral trust bonds, the first issue Is limited to 80 per cent of the following bonds: Omaha & Repu.blioan Valley RR., $1,010,000; C0lorado Central Railroad bonds, $2,051,00Q; Utah Northern Railroad, $2,326,000; total, $5,387,000. The collateral trust bonds of 1883 are secured by the following bonds : Colorado Central RR. $1,363,000; Utah & Northern RR. $2,1.78,000-; Omaha & Rep. Valley RR. $668,000; Omaha & Repub. Valley Railway, $2,108,000; Utah Southern RR. extension $91,000; total, $6,409,000. The Kan. Pac. consol. mort. cover3 the r::iad 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. 8. lien. It is a first lien on 797,000 acres of land, valued at $3,600,500 (subject only as to a part of this to $8,000 Den. Pac. bonds), and the securities named below, and ·a second lien on Den. Ex. lands, 3,566,536 acres, valued ali $6,670,879. The outstanding bonds of Kansas Paci:fl.c above are given less tlu, amounts of each class held by the trustees of the consol. mort. Theoon sol. mortg. trustees are Jay Gould and Russell Sage, and they held in trust on Jan. 1, 1888, the following bonds or the Kansas; Paoitt.o,mak1ng $6,799,150 in all, viz.: Leavenworth Branch, $582,000 income (unsnbordinated)bonds. $217,750; income (subordinated) bonds, $3,948,400; Cheyenne Branch Den. Pac. bonds, $2,051,000. They also held $1,997,• 500 of the stocks and $3,160,000 of the bonds of othtsr companies controlled by the Union Paci:fl.c. Of the Kan. Pac. morts. 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. Ex:ten. the 254 m. nen beyond. (394th to 639th m.) The Denv.Exten. mortgage bas a sinking fund of $100,000 yearly, from July 1, 1880, to July J, 1889, and then of $255,000 till July 1, U199. LAND GR.ANT.-The proceeds of land sales on the Union Pacifl.c mahJ line are applicable to the principal ot the land grant bonds, and after that to the sinking fund mortgage 8 per cent bonds. On the Kansa.a Paci:fl.c the cash income from land is applied to the consol. mortgage. On Dec. 31. '87, the company ha.d in ca.sh from the Un. Pacific grant tlie SU1ll of $5,923,485, and in land contracts (with accrued interest), $7,922,· 984; which sums are applicable first to the payment of the land ~nt bonds, and then to the payment of the 8 per cent sinking fund bonds due in 1893. On Jan 1, 1888 the U. Pac. lands unsold were 3;120,355 acres, estimitted at $2,3-10,355; the .K. P. lands unsold, 3,365,586 a.ores, estimated at $10,171,379. The sales in 1885, 1886 and 1887 were as follows: 1887. Union Pacific1885. 1886• 51,352 A.cres sold (net) ....• _. ••••.•••.• 743,704 146,189 $74,123 Amount ........ ·······-·........ $1,223.227 $178,326 $1 44 Average price on gross sales... $1 65 $1 22 Kan. Paci:fl.c522,512 225,623 690,294 Acres sold ..•... _..••........•..• Amount ... ·.. ·-··-······ ..•..• _.. $2,817,159 $1,049,122 $2,514,643 4 93 $4 68 $! 08 A. v. price (discounts deducted) .• 573,86~ 371,819 1,433,990 Total acres sold .• -.·-··········$2,~88,76e $1,228,225 $4.,040,386 Amount .••••••..••. ·. • ~ •.•• • •.••• .... I E MAP OF THE TOLEDO, ST. LOUIS KANSAS CITY AND RAILROAD AND CONNECTIONS. r.Jl ~ 0 0 H .w_ Vern Buren 0 c:,i ....~ ~ ~z ~- .J,.. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A R INVESTORS' SUPPLEMENT. UIS [VOL. XLv1n. Sub•erlbers will confer a great favor by glrlng Immediate notice of any error dhcoYere4 la the•e Table• . .Bonde-Prlnal INTEREST OR DIVrDENDS. DEBORIPTION. pal, When D116. Miles Date Size, or Amount Par Outstanding Rate per When .Where P~ble, and by Btocka-LMt of J'oJ' eJq>lan&tion of column headings, &c., see notes of ow. Dlvidend. Cent. Payable Road. Bonda. Value. on Jlrat page of tables. -- - - trMOn PO,ci,jte-( Oontin:ued).K&naaa Pac., lat M., Middle Div.,$16,000 p.m.,f 2d M.(to U.8.Gov.) on 394m.W. Mo . . do 4o latM.,DenverEx.,l.g.•2,568,586 acs.c*&r Income bdR. 3d M.on 427 miles, coup. do Tl. Pac. Lin,. d: Ool.-1 st m., g., gu. ($20,000 p. m.)c• ITui/1. Oentrat-Stock .••.......•. . .•. . ... . .•.....••.... let mortgage, p:old. 01,rden to Salt Lake ..•• . .•... c Utah Bo ,gen. m .. 8.Laketo .Tuab (hr$l,950,000). Utah South. Exten., let M •. .T11ab to Frisco . .••.. . 1ltah d Nor.-lat mort~age, $12,0,)0 per mile ....•. Cons. M. guar., $15,000 p. w., s . f., not dr'n, g .. c* Equipment bonds (l·lOtu payable yearly) ....... 11tka cf Bl• .Ri-i,,-St'Jr, 7p.c.perpet. guor,byR. W.&O. let \fo~age ..•..... . ................•........... c Black River & Morristown, let mortga,g-e ...•.... c Ola~n k Theresa, 1st mortfage, guaranteed .. c 0 ensbur1r & Morristown, st mo~a,g-e . .....•. c UHca Ohen.t18us9.. Val.-8t'k,6p.o.gu. byD.L.& W. Utica Olinton ti Binghamtonr-lst morti....•• . .... c .,-a1,1ey (N. Y.)-Btock. 5 p. c. guar. by . L. & W ... let mo~age (for $5 00.000) ..••......•••...•••.••. YaUey (Ohw)--lst mortgage, Clev. to Canton ..•. c* Oonsol. mortgage gold (for $4,000,000) ..•••.... c" Yallty (Va.J-lst mort!{age ......................... c .,-ermont ti Mass.-Stoc , 6 p. ct. guar. by Fitchb ... Bonda no, mort. (gnar. by Fitchburg RR.) ..•••• c* Yermont VaUey of 1871-Btook .•••......•...••..•.. 1st mortgage ••••.•••.••..••.....••.•••..••.••... o* --- --- 1866 $1,000 $4,063,000 6,303.000 1865·7 6,03R,OOO 1869 1:000 l'iO&c. 18A6 85,900 1,000 4,50~.ooo 1883 4,225,000 100 1,000 1,000,000 1870 1,000 1,950,000 1879 1.000 1,950,000 1879 1,000 4,995,000 1878 1,90·,o 10 18.".16 1,000 32" ,000 ....... 1887 ·ioo 1,103,000 180 500 &c. 1,107.000 87 500,000 36 1874 nOO &c. 200,000 16 1873 500 &c. 1,000 143,000 10 1883 100 4,000.000 97 790,000 .n '66-;70 500&0. 750,000 12 ··-· 400,000 12 1sA·1. 59 1879 lOO~&c. 1,600,000 1,000 1,499,000 91. 1881 1,000 750,000 lt3 i881 100 3,193,000 59 -··· 1,000 1,000,000 1833 ·50 50 1,000,000 1,000 800,000 24 253 394 245 427 220 280 36¼1 105 138 462 466 ---- is1i isso 3g. J. &D. New York, Un. rr. Co. M:&·N. N. Y., Lond. & Frankt't. M.& 8. N. Y., Bk. of Commerce A. & o. New Yol'k & Boston. 6 g. 7 5 g. 1 Q.·....J. New York, 40 Wall St. do do 6 g. J . & J. ;. & J. do do 7 do do J. & J. 7 J. & .J. New York, 40 Wall St. 7 do do g. J. & .J. do do 3~ M:&··s. N. Y.,R. W.&O. Co. J. & Co. Tru.st Cent. Y. N. J. 7 do do .J. & .J. 7 do do J. & J. 7 J. & J . do do tS M.&N. N. Y., D. L. & W. RR. 3 6&7 J. & J. Utica, Oneida Nat. B'k. N. Y., D. L. &W. 219 .J. & .J. do do F. &A. 5 .J, & D. N. Y., Drex., Mor. & Co. 7 do do M.& 8. 6 A. &O. Ba.It. and New York. 6 A. & 0. Bost., 47 Devonshlre Bt. 3 M.&N. Boston. Fitchbur~ RR. 5 Bellows Falls. a J. & J. A. & 0. Bost., SafeDep. &Tr.Co 5 g June 1, 1 ~ 1895 to'9'1 May 1, 1899 July 1, 1918 Apr~ 1, lVlS Oot., 1~84.. Jan. 1, 1890 July 1, 1909 July 1, 1909 .Jnly 1. 1908 July 1. 1926 l ·lOth \early Sept., 888 Jau. 1, 1891 Jan. 1, 1894 July 1, 1898 .Jan. 1, 1'891 Nov. 1, 1888 .J11,n. 1, 1890 Jan, 1889 Au~. 1, 1911 June 15, 1906 Sept, l, H~21 Oct. 1, 1921 Oct. 8, 1888 May 1, 1903 Jan. 2, 18ti9 Oct. 1, 1910 : The Ka.n888 Pacific lands, from the 380th mile WMtward. are coverw fl.rat by the Denver Extension mort. (coverin,r 394.th to 639th mile), and all the lands of the Kan. Pa" i.,y the consol. mortga11:e. OPERATIONS, FINANCES, &c.-The company hll,8 extended rapidly and built and acqmrep much new mileage, of whlch r.be Utah Northern_ and Oregon Short Line are two of the most import •nt branches. For the half-year ending JllDe 30, '88, the report was in V. 47, p. 500. From .Ja.n. l to Nov. 30, 1888 ( ll mos.1. i;zroe.s earnings were $26, .. 80, S98. llgainat $26,313,89-1 in 18!:!7; mt,$ 10,43f>.4'-l3 again,;,t $11,176, 78 t; The 8,llnUal report for 1887 was in the CHROl'UCLE, V. 46, p. f\35, 54.0, and the following figures were _!rtven for the whole sytem operated: OPERATIONS .um FISCAL RESULTS. 1887. 1886. 1885. 4,764 4,594 lllles operated Dec. 31. ...... .. . . . 4,519 :Pasaen,i?ers carried one mile ...••. 188,237,416 248,523,010 262,913,074 . .•. 2 ·4a cts. .Averaire rate per pass. per mile.. 3·05 eta. ~one freight carried one mil~ ... 994,780,223 1114102852 1350515946 1·46 cts. Average 1ate per ton per mile.... 1 •6:;: cts. . ...$ $ $ Earnings from6,09R,237 6,!5~fl,779 Passengers .••.......... . ..... ... .... 5 .809.018 }'!'eight ....••..• . .••.• •........ ...• . 18,193,2 ,5 18,5i:i8.744 I9.9o6,4.f>7 1,918.815 2,005,5lll Kall, express and miscellaneoua . .. 1,922,8 ~9 ToW earnings ..... . .•........•. 25,925,172 26.003,791> 28.557,i6tt Operating expenses and taxes ...••. 16,157,721 17,608,619 17,667,i32 Net earnings .....• •.........•. 9,767,451 :Pe:r cent of expenses to ea.rnin!!s... 6i•32 8,995,177 10,890.0.i4 01·87 60·19 • Not including company's freight. INCOME ACCOUNT. 1805. $ Beeeipts•et earnings ..•..•......•••.......•. 9,687,441 Jncome from lnvei:.tmenta...... ••. . . 1,382,811 10,.335 lll806llaneous land sales............ . ...... . Investments, premiums, &c......... 207,llO FNm trnsteesK. P. con. mort.... . J>ro11t and loss .••. .••..••...••.••••.• 1886. 1887. $ $ 8,995,179 10,890,034 890,()20 1,03 •,!'if)2 13 015 15,904 670,341 1,113,600 ·i1:~50 101.927 Total income ..• . . ••......••...•. 11,287,697 U,784,082 ll,95'1,340 ~endit11,resmt-ereat on bonds.................... 5,336,267 5,197,731 5,134,566 356.138 67,224 160,15 ~ l)Ecount and int.ere t............... 93.945 Losses on in,est., prem .. &c.... .. .•. 113.490 593.605 587,670 81D.k:mll fund, company's bonds..... 59i:965 Interest-auxiliary lines .... •...•... 1,191,010 1,298.3::t9 1,3al,371 3!1,920 62,640 Land taxes. &c., Union Di.......... 53,653 21,579 11,722 Loss on Leav. Top. & 8. RR... . ..... • ••..••• Profit and loss.......... •••...•..••• i9s:o5o Total eXl>6nditure ..••.•••.•••.•. 7,632,464. Bnrplua tnc(lme of the year ...••.••. 3,655,233 ])e(foct U. 8. requirements .••.•.••• 1,184,053 7,229,681 4;5M,401 808,033 7,578,954 4,375,386 1,205,656 Total surplus income ..•••....•. 2.471,180 3,746,368 3,169,730 ~he oon.d011s,>,d balance sheet for three years is as tollows: CLOS!e OF EACH YKAR, 1886. 1885. GENERAL BALANCE AT A&ets- $ $ 1887. $ Boa4, equipment, &c ....•••..•. 159,298,919 161,283.688 162,522,403 Btook.s and bonds owned, cost .. 39,233,5~7 35,529.187 42,2H.1Hl 751,098 755,750 680,891 Jli8ct,llaneoua investments..... 4,570,428 6,69 7,670 Advances....................... 3,415,~80 l,6&2,105 2,889,218 llate:rials, fuel, &c.............. 1,683,432 401,689 1,351,190 Cash and cash resources . .... . . 759,043 638,639 522,480 Denver Extension sink'g fund. 124,285 68,8t8 70,440 Trui,t 5 per cent, &o.,sink. fund 3,217,250 3,217.~rno :Bonds and 1,1tooks held in trust. 3,215,250 Land department usets ........ 18,159,200 18,599,519 19,74.2,124 Total.. •••••..••••••••••••••• 226,279,509 230,030,969 235,961,586 Lo1>ilitia- Btock.... . . .. . .. . . . . . . . . . . . . .. . . 60,868,500 Fonded debt ..•...•..•••.•••.••• 81,957,682 United States subsidy bonds .•• 3 3,539,512 · Aoorued int. on subsidy bonds. 15,167,214. float:lnp; debt.... .... . .••. ••.•.. tl,861,445 774.104 lntereat accrued not due . . •. . •• General income (profit and loss) tl0,493,2d4 loeome used for slnkmg fund.. 2,976,634 Jwmdand trust inoome .•••.•••• 1B,64l,134 60,368,500 81,969,127 33,5 19.512 16,670,753 60,868,500 80,180,655 3::J, ~a9,5l~ 16,363,744 758,493 13,827,4!56 3,568,599 19,828,519 16,826,177 4,1 '> 6 ~69 23,299,260 727,46~ Total liabilities .•••.•••.•••• 226,279.509 230,030,959 235,ih51,586 t .After deducting deficit of U 8. requirements', as compar~d wttJfi M!Ctrued interf"..at on U. 8. bonds Feb. 1, 1~80 to date. t Notinoluding916,704 due to U. 8. underThurwa.n Aot,paid lnAprU, l88Ft. -<V. 46, p. as, .,-. 48, P• 99.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis a21, 526, ,a&, 039, o4o; v.. ,1, 1>, 60, uo, 498, .soo; Union Pacific Lincoln & Colorado.-Tbis is a bl'anoh of the Ka11. Pac. R.r., running westerly from Salina to a.junction with the Kan. Pac. at Oakley, Kan., and may ultimately be built to Denver and C&nYon City, Col. The 220 m. already completed i@ a consol. of the Sal. Lm. & We•t. Ry. a 1d the Oakley & Oolby Ry.in Kansas, and new roan Ol)unect• lug the two. The bonds are imar. by Un. Pd.C., by endorsement: trustee ot mortg. ts the Am. Loan & Tr. Co. or Boston; slnk. Cund or t 3 of 1 per oent yearly, t,ut bonds cannot be drawn. U. P. ownR aJ.l tbA stock exce11t what is held by certain coun•ies in Kansas. (V. 47, p. 490, 803.) Utah Oentral-(See Map Un. Pacijte)-From Ogden, Utah, to I<"rieoo. 280 miles. Extension westward, 85 miles, projMted. A consolidation July 1, 18Bl, of the Utah Central, Utall Southern and Utah Southern Extension. Union Paciflc owns $1,8 6,900 stock and $982,000 Utah Southern bond~. For 1887 groae, $797,343; net. $333,625; flx:ed chargea, $33~,184; deficit, $4.M8. In 1886, gross, ii 771,800; net, $31~1965 charges, $355,996; deficit, $4'3,031. (V. 45, p. 203; V. 46, p. 771.J Utah & Nonhern-(Bee Map Union Pacijte)-From Ogden, Utah, to Gardson. and the line of Northern Pacific, with branches to Butt,e City and Anaconda Mines ; total. 466 miles (153 miles narrow gauge), but 58 mi ,eEI, Silver Bow to Butte and Garrison, are leaQed to Montana Union. Thls road forms a. connection between the Northern Pacl:fl.o at Garrison, Montana, and the UnloD Paciflc at Ogden. Stock $5,543,000, and 6 per cent dividend paid in 1884, and 1 p!'lr cent .Jan, 1885. The road was built by Union Pacific, which owns $4,816,400 stock and $4 • 968.000 7 per cent bonds. The consolidated bonds are stamped with. the U. P.'s gnar. of principal and interest. Improvements and change of gau!!e have been charged to operating expenses, oausinir deficit as s ll own b P,low. For the year 1887, gross earnlnp:s, $1,l:1 68,990· net. $260,211; dA116it unlfer charges, $1 ll, 7 L1. Tn lf~86, gross, $1,805,592; net, $350,561; deficit under interest, $14,565. (V. 47, p. 383, 442.) Utica & Black Rlver.-Utica, N. Y., to Ogdelll'burg, N. Y., 134 milt-s; CarthaO'e to Saokett's Harbor (leased), 30 miles; Clayton to Theresa, 16 miles; total, 180 miles. In April, 1886, the road wa.a leased in perpPtuity to the Rome Watertown & Ogdensburg RR. Co. at a rental guaranteed to pay .fixed charges and 7 per ceIJt yearly on the stock. In Jan., 1 ➔ 88, sto0.kholdArs had the option of exchanging their str,ck en the ha!!iA of 100 sha.re• ($10,000) for $ti,500 in R. W. & 0. 5 per cent coneol. bonds and $7.5011 in R. W. & O. stock; and in this way the R. W. & O. acquired a majority of the stock, $1,120,000 additional tl) wha1i UJ in table and guaranteed. (V. 46, p. 76.) Utica Chenango & Susquehanna Valley.-Owns from Uttoa, N. Y., to Greflne, N. Y., 75 miles; branch to Richfield Sprlnp:s, 22 milee; total, 97 miles. Road opened October, 1872. Leased to Del. Lack. & Western at 6 per cent on stock. Ha.a no bonded debt. Utica Ollnton & Dlngharnton.-Owns !rom Utica, N.Y., t,o Randallville, N. Y., 31 miles. Leased du.ring continuance of cha.rtPr and renewals thereof r, the Del. & Hud. Canal Co., which pays rental of $70,500 pt>r annum Operated. by the N. Y. Ontario & Western. The street lineR owned by the company are leased to Utica Belt Line Street RR. Co. for $15,000 per annum. Gross earninjZS of this road, and •Rome & Clinton, 13 miles (reported to?ether by N. Y. Ont. & West.), in 1886-87, were $ 207,530; net, $74,800. In 1887 gro3s $218,863; net $68,494. loaR 10 N. Y. Ont. & W., $3,657. Capital stock, $849,285, of which ciY. or Utica holds $200,000, with interest guaranteed 5 per cent. James . Scollard, Pres., Clinton, N. Y. (V, 47, p. 188.) Valley (N. Y.) Rallroad.-Owns from Binghamton, N. Y., to State line of Pennsylvania.. 12 miles. Opened October, 1871. Leased t,o Delaware Lackawanna & Western at 8 per cent per annum on stook. ($750,000; par, $100), which was reduced in 1882 to 5 per oent, the lessee assunllng the interest on bonds. Samuel Sloan, Prest... N. Y. Oity. Valley (Ohlo).-Owns from Oleveland, 0., to Valley .Junction, O., 75 miles, and 16 miles of small branches. Of the consol. mortRMe $1,600,000 18 held in trust to retire the first mortgage when due. -T.fie conaol. m ortgage is a flrat lien on the Cleveland terminal property Capital, $1,261,032, par $50. Earnings in 1886, $628,45C ; net, $289,· 286; surplus over all interest, f39, ll4. In 1837, gross, $671,395; net, $300,175; aurp. over all int., $!7,'127. Valley (Va.)-Owns from Harrisonburg to Lexington, Va., 62 mllee, By this and connecting lines under B. & O. control, the distanoe from .Lexington is 243 miles to Baltimore and 217 miles to Washington. The Baltimore & Ohio owns $424,000 bonds and $1,020,000 ol lihes~ outstanding, $2,731,889; (par f 100,,. In :year ending Sept. 30, 1887, gross earnings were $122,~72; net, $43,369; 1887•88, grot,8 reoeipt,s, $112,282; net, $22,266. (V. 43, p. 608; V. 45, p. 673.) Vermont &: MaHachn•etts.-Line of road, Fitchburg to Green• fl.eld, Mass., 56 miles: branch, 3 miles. The road is leased to the Fit.ell• burg RR. for 999 years at 6 p, o. tm stock. The 1688ee to Sept. 30, 1se.a, had.invested $1.465,212 in improTementsforthis road. (Y, 43,p. 636' Vermont Valley or 1871.-0wns from Bellows Fa.Ila liO Brat• tleboro, Vt., 2! miles, and by purchase of atook ~he Sullivan Oounty RR. from Bellows FaJ.18 to Windsor, Vt.• 26 miles; total, 50 miles. Oontrolled in the interest of the Connecticut River RR. The Sulltvan County RR. stock fa deposited. as addit!ona.l security for the above mort. bonds. Gross earnings, &c., for whole line in :year endin~ Sept. 30 1887, were $406,349; net $126,370. II 1887•88 groBS $412 198 • net $117,371; surplus over iuteresli and 6 per oent oiv1dend, $4.07. b1v1 denda sinoe 1880 ha.Ye been: In 1881, 419; in 1882, 4; from 1883 te 1888 inolwdve, 6, in 1889 to date, 3 • 1 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE UNION PACIFIC RAI~WAY ~130 INVESTORS' SUPPLEMENT. Sub■ erlber• wm LVOL, XLVIII. conCer a great Cavor by giving l.m.medlate notice oC any error dl•eovered In the ■e Table ■ • Bonds-Princi• INTEREST OR DIVIDENDS. pal,WbenDue• . - - - - - - - - - - - - - - - - - - - - 1 Miles Date Bize,or Amount Par Outatandin"' Rate per When Where Payable, and by Stocks-Last of ~or ex1 lanation of column headings, &c., see notes of Dividend. Whom. ° Cent. payable Road. Bonda Value. on first page of tables. DESCRIPTION. Vieksburg lE Meridian-lat mortgage .••..•••.••..••. 2d mortgage, lat on lands .....••...•...•...•....•. 3d mortgage income (not cumulative} ......•...•. Vieksb. Shrevep. & Pac.-Prior lien mort., gold ... c• lat mortgage, gold ...... . ••....•.........•. ·~. . . c* 3d M., and lat M. on land, g., for $2,500,000 ... c* Inc. bda~ n2n cum. (there are also $139,000 old 6s) Va. Midl'a-t1t'ck($3,577,333 ownedbyR.&W.P.T.) Bonds, let aeries ..•..•.........•..•...•.......•.... 2d aeries ......•...•..••...•..••..••........ du do . 3d aeries .........••...•....... ••..•••.••... 4.thaeriea, 3 per cent for 10 years ...•...••. do 5th aeries ..............•.......•...•...•.... do 6th aeries, 4 per cent for 8 years ....•...••. do Income mortgage bonds strictly cumulative ...•. Gen'lmort., int. guar. by R. & D., $12,500,000.c' prin. a c d int. guar. (endorsed) ...... . do Oharlottev.& Rapidan,(L'sed)lstM.,s.f.dr'n at!l00 Virginia & .Truc?cee-lat.M.(vay'ble$100,000 a year) Wabash St. Louis lE Pacific-Stock, common .. : ...•. Preferred stock, 7 per cent (not cumulative) ..•. ,. let mort., gold (Chic. Div.) ....•..•...••...•....... lat mort., gold, Detroit Division .••..••..•....••... Wabash, lat mort. (Toledo & Illinois) ..•..••...... 1st mort. (Lake Erie Wab. & St. L.) .••.. do lat mort. (Great Western of 1859) ..•.... do let mort. (Q.uincy & Toledo) ......•...•.. do let mort. (Ill. & Bo. Iowa) extended .•... do 2d mortgage (Toledo & Wabash) .......•. do 2d mortgage (Wabash & Western) ...... . do 2d mortgage (Great West. of 1859) .... . do 'Tol. W. &W. Con. M., (on ail but Dec. & E. St.L.) .. 140 140 140 189 189 189 362 347 3-l7 28 52 956 956 262 112 75 167 180 33 29 75 167 180 490 --------1-----------1 Ii.. & 0. La.at op. paid Apr., 1885 6 1881 $1,000 $1,000,000 1,000 1881 1881 · 500 &c. 1,000 1885 1,000 1881 1,000 1886 1887 issi 1881 ·ioo 1881 1881 1881 1881 1:000 1882 1,000 1886 1,000 1886 1879 100 &c. 1,000 :i.874 (i> is§o 1881 1853 !.853 1863 1865 1862 1853 1858 1865 1867 1:000 1,000 1,000 1,000 1,000 1,000 500 &c. 250 &o. 100 &o. 1,000 1,000 Vlckaburg & ltlerldlan.-LINE OF ROAD.-Vickaburg to Meridian, Mias'./ and bra.nob, 143 miles. In Oct., 1885, the gauge was changed to the etanaard 4 feet 8½! inches, and the transfer across the Mississippi at Vlck8burg was completed. It is mainly owned and controlled by the Ala. N. O. Tex. & Pac. June. Co. The company was unable to earn ful1 Interest, and reorgan17.at.1on was made in 1881. Pre:feITed stock. $1.940,• 612; common stock, $3,962,100. A receiver was appointed in 1885. Foreclosure proceedings under 2d mort. are in progress; road ii to be sold Feb. 4, 1889. P10poaed plan of reorganization fatled of approval and aesesaments are belng refunded. Second mort. is a fir;;t lien on 133.069 acres of land. From J an. 1 to Nov. 30, 1888 (11 mofl.} . gross earnings were $432,141, against $494,349 ln 1887; net, $71,000, against -$86,000. Annual report for year ending Mar. 31, 1888, in CHRONICLE, v. 411, p. 649. RECEIPTS AND EXPENDITURES FOR YEARS ENDING MARCH 31. 1888. 1887 1886. 1885. 'Total earninga ......•.•••.•••. $495,603 $503,304 $531,772 $547,761 Operating expenses .••....••. - 443,939 426,498 484,362 423,413 , $ $ 76 , 806 $47,409 124 348 ...,flt earninp;a ...••..•••. •······ $51,6 6 3 $18,285 $18,134 F~~~~~.~~~!~:~~~·e·v·~~~~$17,550 125,083 126,000 For interest OD bonds···-··· 104,000 41,711 14,232 7,633 For int. on fioatin~ debt...... 4,632 4,298 4,477 For expenses of land dep't... ---- ------Tot. pa.ym'ts charg'ble to rev.$133,660 $151,135 $161,899 $190,478 $81 997 $74 329 $114 489 $66 130 N tdefl. Oit ' ' ' ' • • • •• • • • •• • • • • ••• • • •• e -(V. 45, P• 54,113; V. 46, p. 228, 649,. 669; V. 47, p. 382, 664, 803.) Vicksburg Shreveport & Paclftc.-(See Map Oincinnati New Orleans d Texas Pacific.) From Delta, La., on Mississippi River, to Shreveport 170 miles, and extension to Texas State Line. 1 g miles (the latter leased to Tex. & Pac.); total, 188 miles. The old Vicksburg ,Shreveport & Pacific road was sold in foreclosure Dec. 1, 1879, and reorganized under present title. The stock is $1,650,000, of which the Alabama New Orleans & Texas Pacific Junction Railroad Company bolds a majority, and also $3,692,000 of the lat mortg. and ~965,E00 3d mortg. bonds. In 1885 it was voted to issue the above prior Hen bonds for improving tbe road bed, completing the transfer across tbe Mlaa. River, &:c. Till 1891 the 3d mortgage bonds ,carry 3 per cent, then 4 per cent till 189<i, and thereafter 5 per cent;. Net proceeds of land sales go to payment of interest -0n these Londa if necessary, otherwise to sinking fund; no bonds drawn (see V. 43, p. 104). Landa unsold June 30, 1888, were estimated at 278,P50 acres, 58,590 acres having oeen sold for $155,291 in year 1887·8. Trustees of prior lien mort. and of 3d mort., Central 'Trust Co.; of first mort., Farmers' Loan & Trust Co. From Jan. 1 to Nov. 30, 1888 (1 t mos.), gross earnings were $501,419, against $536,4.50 in 1887; net, $110,000, against $147,000. Tne annual report was in V. 47, p. 284. In year ending June 30, 1887, gross receipts were $564,317; net, $144,899; deficit under in• tereat,. $187,804; · in 1887-88, gross. $604,256; net, $185,934; d eficit .undermtereat, $177,683. (V. 45, p. 637; V. 47, p. 284.) Virginia 1'.lldland.-(See Map of Richmond & W. P. Tet·m.)-LINE ,OF Ro.AD. - From Alexandria to Gordonsville, 88 miles; Warrenton Branch, 9 miles ; Charlottesville to Lynchburg, 60 miles; Lynchburg ·to Danville, 66 miles; Pittsville Branch, 9 miles; Manassas Junction to Harrisonburg, 114 miles (of which 49 miles leased to Baltimore & Ohio; small branches, 8 miles; total owned, 347 miles. Leases: C.bar• 'lotteaville & Rapidan RR., Orange C. H. to Charlottesville, 28 miles; _Frank. & Pitts. RR. (3 ft.), Pittsville to Rocky Mt., 30 miles; total leased, 58 miles. Total owned and leased, 413 miles, of which 51 miles, Strasburg .Junction to Harrisonburg, is leased to the Balt. & Ohio (in perpetuity at B. & O.'a option for $89,250 yearly), leaving 362 miles operated. The Washington City Virginia Midland & Great Southern was sold :Dec. 20, 1880, and reorganized as Virginia Midland, ana bonds and ,stock issued as above. In April, 1886, a leaae of this road was made to the Richmond & Dan"fllle on the basis of a payment or the fixed charges and the payment by tbe 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 six aeries of prior bonds if earnings are ineutficient, but guarantees positively the general Jl).0rtgage interest. The Rich. & W. P. Term. Co. owns $3,577,333 stock. Of the above bonds, the first aeries 1a a first llen between AlexaJJ.dria and Gordonsville, incluct.ing lease or Charlottesville & Rapidan Railroad and the Warrenton Branch; the second aeries is a second lien between Alexandria and Gordonsville, including Warrenton Branch and lease of Obarlottesville and Rapidan RK., and a first lien between Cha.rlottes,7file and Lyncbbm~; the third aeries is a third lien between Alexandria and ·Gordl'.'!l8ville, including Warrenton Branch and lease of Charlottesville & liapidan RR., and a second lien between Charlottesville and Lynch• 'burg; the fourth series is a rourth lien between Alexandria. and GordonaVllle, includin~ Warrenton Branch and Jeaaeof Charlottesville & Rapidan RR., sn1. a third lien between Charlottesville and Lynchburg; the ttftll series is a :tl.rst llen between Manassas .Junction and Harriaonourg, in eluding Front Royal Branch and leaae o:f road from Strasburg to Harris- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $16,741 114,083 15,894 4,416 1,100,000 1,917,000 1,323,000 4,000,000 2,100,000 494,860 4,940,363 600,000 1,900,000 1,100,000 950,000 l,77fi,000 1,310,000 193,000 3,779.000 882,000 44.7,300 200,000 m 4,500,000 2,052,000 900,000 2,500,000 2,496,000 500,000 300,000 1,000,000 1,500,000 2,500,000 2,610,000 6 g. M. & N. 7 6 g. M ..&..N. 6 g. .J. & .J. g. .J. & .J. 3-4-,f ..6. April 1, Last op. paid Nov., 1884 May 1, June 1, N. Y., Central Trust Co. Nov. 1, N.Y., Fa.rmera'L.&T.Co. Jan. 1, N. Y., Central Trust Co Jan. 1, Jan. 1, N.Y.,Rioh· & D., 2 Wall do M. & B. do M. & S. do M. & 8. do M. & 8. do M. & S. .J. & .J. Last paid .July, 1884 M. & N. N.Y., Central Trust Co. do do M. & N. .J. & .J. Phil. Tr. & Safe Dep. Q.-F. San Fran., Bank of Ca.1. Int. on oertit'a tor . • •. bonds assenting to .J..& ..J. tbe plan was paid 6g. J. & .J. Nov. 1. 1888, by the F. &A. Cent. Trust Co., 54 7 F. & A.. Wall ·St. Coups. on 7 F. &A. all the 1st m. bonds 7 M.&N. (except Det. Div.) 7 F. &A. due.June, July, Aull.'. 6 M.&N. or Nov. 1, 1886, and 7 M.&N. coups. on tuud. debt 7 M.&N. bonds (sec. by lat 7 Q.-F. M.coupa.) due A.ug., 7 6 6 3-4-5 5 4&5 6 5 5 6 10 M.'&··s. ··s·g. I 1921 1921 1921 1915 1920 1916 1920 Mar:·i·,··i906 Mar. 1, 1911 Mar. 1, 1916 Mar. 1, 1921 Mar. 1, 1926 Mar. 1, 1931 Jan. 1, 1927 May 1, 1936 May 1, 1936 July 1, 1913 Aug. 1, 1889 Juiy··ci91o July 1, !.921 Aug. 1, 1890 Aug. 1, 1890 Aug., 1888 Nov. 1, 1890 Aug. 1, 1912 May 1. 1893 May 1, 1893 May 1, 1893 Feb. 1, 1907 sonburg to the B. & O. RR., and a filth lien between Alexandria. and Gordonsville, including Warrenton Branch and lease o:f Charlottesville & Rapidan RR., and a fourth lien between Charlottesville and Lynch• l>urg; tbe sixth series is a first lien between Lynchburg and Danville, lncluding Pittsville Branch and lease of Franklin & Pittaylvallla RR., a.nd a sixth lien on lease of Charlottedville & Rapidan Railroad. The income bonds a.re exchangeable into the general mortgage bonds bearing 5 p. c. interest, and guaranteed under the lease by the Rich. & Danville RR. Co. Of the $12,500,000 general mortgage bonds of 18g6, $7,635,000 were held to retire the aerial bonds, also enough for the incomes. See ab• atract of mortgage V. 47, p. 23. General mortgaze bonds Noa. 2,501 to 2,650; 3,501 to 3,732, and 4,001 to 4,500, all inclusive, bear the endorsed guarantee of the Richmond & Danville. There was due companies Sept. 30, 1888, $.U I,972. From Oct. 1, 1887, to Sept. 30, 1888 (12 months), gross earnings were $1,770,677, agst. $1,605,917 in 1886-7; net, $732,63 t, agst. $620,535. Earnings :for the years ending September 30 were: Gross receipts. Opera.t'g exp'aea. Net receipts. Miles. $563,943 $990.432 $1,554,375 354 1 88 85 ...· •..· 519,272 1,032,431 1,551,703 354 18 8 v 8 6 367 1 Office·:2 Wall St.' (V 45, p. 85; v'. 46; p. 418,693; v.' 47, Ne-~ p 22 161 532 775 l · ' ' · ' Virginia & Truckee,-Reno, Nev., to Virginia., Nev., 52 miles. The bonds are payable $100,000 per year. Stock, $5,000,000; par $100. Gross earnings in 1886 were $702,891; net, $353,544; dividends, $270,000; interest and bond payments, $303,170. In 1887, gross, $720,428; net, $358,999; interest paid, $22,575; dividends, $273,750; bonds redeemed, $100,000; deficit, $37,326. D. 0. Milla, President. Wabash St. Louts & PacUlc.-The roads East of the Mlasiaslppi River (operated by Receiver John McNulta, except the Detroit Division) embrace the following pieces covered by the several mortga,g-ea: Toledo & Illmoia first mortgages-Toledo to Indiana State line, 75 miles; Toledo & Wabash, second mortgages -Toledo to Indiana.State line, 75 miles; Lake Erle Wabash & St. Louis,ftrat mortgages-Ohio State line to Illinois State line, 166 miles; Wabash & Weatero, second mortgage, Oh.lo State line to Illinois State line, 166 miles: Great Western of 185l:J, firat and second mortgage--Indiana. State line to Meredllaia and Naples. Ill., 180 miles; Illinois & Southern Iowa, lat mortgage-Clayton to Carthage, Ill., 29 miles; Quincy & Toledo, lat mortgage-Clayton to Meredosia, Ill, 33 miles; Decatur & East St. Lrmis, first mortgage-Decatur to E. St.Louis, 108 miles; Ha.nnibal&Naples, lstmortsage-Ha.nnibal~ Mo., to Naples, Ill., 50 miles; Wab. St. L. & Pacific (Chicago Division), lat mortgageStreator, Ill., to Effingham and Altamont and Strawn to Chicago, 268 miles; Wab. St.L. & Pac. (DetroitD :v., operated by Wab.&W.) 1st mort.Detroitto Butler, Ind., 114 miles. The total mileage operated is 956. ORGANIZ.A.TION, LE.A.SES, &c.-The Wabash St. Louis & Pacific W&8 formed Nov. 7, 1879, by a consolidation ot the Wabash and the St. Louie Kansas City & Northern r.-:>ada and their branches. The Wabash Com• pany had been organized Jan. 1, 1877, as successor of the Toledo Wab. & West., which compan,_v was formed June 25, 1856, by a consolidation of several companies, and defaulted on its interest 1n 1875 and was :foreclosed June 10, 1876. The St. Louie Kansas City & Northern was formed in 1871 as successor of the North Missouri Railroad, which was sold in :foreclosure August 26, 1871. In April, 1883, the Wabash St. Louie & Pacific was leased :for 99 yea.T'S to the St. Louie & Iron Mountain (and thus to the Missouri Pacific), on the general basis of paying over to the Wabaah its net earnings ea.oh year, but in May, 1884, Messrs. Solon Humphreys and Thoa. E. Tutt wero appointed receivers on tne company's own application in view of the prospective default June 1 on the general mortgage bonds. Receivers, certificates were issued tor about $1,400,000 and notes !or $2,18~,ooo, to take up notes endorsed by Messrs. Gould, Humphreys and others, but; these were finally taken up by leaving to the said endorsers the $2,700,· 000 of collateral truat bonds h eld by them as security. The plan of reorganization under wnich the properties were sold in 1886 w a s published, as modified, in V. 41, p. 300, providing for the issue of $30,000,000 new debenture bonds, to be disposed ot a.a there stated; also the following points were embraced in the plan: The whole property to tJe foreclosed under the general and collateral trust mortgages, and upon receipt of the new debenture bonds, the holders of general mortgage and collateral trust bond certificates to pa.ytwo per cent 1n cash on tbe face of the new bonds, :for which they would r eceive debenture bonds or scrip. After the formation o:f the new company, the Purchasing Committee to offer the new stock to the stockholders of the Wabash St. Lottie & Pacilio Railway Company, at the rate of eight dollars per share on preferred, and six dollars per abare on common stock, who, for the amou.n1i so paid, to be entitled to debenture bondg, or scrip, dollar for do?..13.r, in addition to the shares in the new company, The bondholders agree to take any stock and debenture bonds not accepted by stockholders, upon the same terma,fro rata, the a.mount, however, not to exceed tive per cent on the face o their bonds. The decree of foreclosure was made in .January, 1886, and the road sold April 26, 1886, to the purchasing committee, who were the only bidders, the price tor all the properties sold being $625,000. (Bee v. 42, p. 537. But there was some delay in the confirmation of t. ~~~~-~i ···· York f•ggg,f~i t•g~~•i~g ~88•~5~ JANUARY, RA.ILROAlJ STOCKS AND BONDS. 1889,] 131 Subscribers will conCer a great Cavor by giving lmm.ed.late notice oC any e:r:ror discovered In these Table ■• Ponds-Prtnol• DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or pal,When Due. Amount Rate per When For explanation of column headings, &c., see notes of of Par Outstanding Where P-Mia.ble, a.nd by Stocks-Last on first pae;e of tables. Road. Bonds Value. Cent. Payable om. Dividend. --- Wabash St. Loins <£ Pacific-( OontinuedJ- Wabash, 1st mort., (Decatur &E. St. Louis) .. . ... 109 do Fund. debt bds. & sc, certs. (see remarks.) do Mort., ~old, sink. fd. $25,000 after '82 .. Hannibal & Nap es, 1st mortgage ...••............ ·50 Wabash Western- Stock ....•...•..••.......•....•.•. 1,004 St. L. K. C. & No., 1st mort. (North Missouri) ....•. 354 do real estate & railway 2d mort .... 354 40 1st & ~d l\I.on St. Char.Bridfe,coup.orrg St. Loma Council Bluffs & Omaha-8 ock ..••..•.. ·42 1st mort. on St. Louis Ottumwa & C. R ..•.....•.. -12 Dea Moines & Northwei,tern-lst mort ........... 115 Ware River-Stock, 7% rental guar.999 yrs.B.&Alb. 49 Warren (N.J.)-Stock, 7 % perp. guar. D. L. & W ... 18 2d mortgage, now 1st.••..••....................... 18 18 1st consol. mort~e ..........•..••...•...•.....••. Waah.OitydPt.Loo ut-lstM.bondsg.Alex. Br.e."!. 12 West Jersey-Stock (paid 612 per cent in 1888) ...... 209 1st mortgage loan, cum. sink. fd. $12,500 yearly .c" 38 1st do consolidated ....................... c' 63 Consolidated mortgage .....••...•..••..•.......•.. r 128 Ocean City RR. bonds ...••..•••.••..•••..•...•... c* .... Swedesboro RR. bonds ..•..••......••.•••...•.•••. Woodstown & Swedesboro, 1st mort..••....... *c 11 West Je1·sey d! Atlantic-Stock ..•.................••. 40 lat mortgii,ge, drawn at 100 ...........•....•....•. 34 Pleasantville & Ocean City, 1st mort ...........•. 7 Wut Shore-lat M., guar. by N.Y.C.& Rud., ..... c&r 478 .... 1869 $1,000 1877 500&c 1,000 1879 1,000 1879 1874 1878 is65 1,000 1,000 1,000 i887 1,000 is5i5 50 100 .. -· ioo 1870 1875 187:; ·-·· isso isai5 1,000 100 &c. 1,000&c 1,000 60 i866 500&0. 1869 500 &c. 1879 500&0 .... 1.coo lOO&c 1882 1,000 sale, the floating liabilities including receivers' debt, &c., being about $4,000,000, and there :v-et r~mained a lar,!?e amonnt 01' over due interest on the prior mortgage liens. The Committee of Reorganlza tton in June, 1886, propost.d to the holders of all mortgages on the road east of the Miss. River that theh· future interest should be reduced to 5 per cent and overdue interest funded to 1866, (see proposal in V. 42, p. 695). Some bondholders made opposition to this, and after litigation the receivers Tutt and Humphreys were removed by an order of judge Gresham, andJudgeThos. M. Cooley was appointed receiver of most of the lines east of the Miss. River, and he was succeeded by Mr. McNulta. The order made by Judges Brewer and Treat for the surrender of these lines was in Vol. 44, p. 10. The purchasing committee afterward took possession or the hues yet remaining in the Wabash system west of the Mississippi River and organized the Wabash & Western. Suits to foreclose the Ill & So. Iowa mort. and the Great Western of 1859, also the conaoL mort. of 1867, were begun in .Jan .. 1887. PROPOSED SCHEME OF CONSOLIDATION, NOV. 1887. On Nov. 21, 1887, a plan of settlement and consolidation was published t,y the purchasing committee and the bondholders' oommittee which embraced the following salient pomts. 1. Cash for all overdue coupons of the first mortgage and funded debt bonds or scrip, except the Detroit Division, with interest on same to November 1, 1887, upon deposit of bonds under this agreement. 2. Bonda of the new first mortgage for overdue coupons of the second mortgages and funded debt bonds or scrip, and the Detroit Div,, with interest thereon to November 1, 1887, and for overdue coupons on con• aolidated mortgage, funded debt and scrip of same, and the Wabash mortgage sevens uf 1879. 3. Foreclosure of the mortgages was deemed necessary for the organization of a new company or compauies, and the consolidaLion of the company or companies so organized with the Wabash Western Rail· way Company. 4. The creation of a new first mortgage by the Consolidated Company, payable in filty years from November 1, 1887, bearing 5 per cent interest in semi•annual coupons, principal and interest payable in gold. Into this all the old first mortgage bonds, funded debt and scrip pertaining thereto, to be convertible to the amount of principal thereof. 5. A new second mortgage upon the lines east of the Mississippi River, payable fifty years from February 1, 1888, bearing 5 per cent interest in aemi•annual coupons, principal and interest payable in gold. Into this the principal of the bonds of all of tile old second mortgages, the consolidateds of 1867 and the sevens of 1879 to be convertible. The charges on all linct as they would stand after this reorganization were given briefly on p. 744 of v. 45, and the earnings below for the whole system in 1887. STOCKS .ANI) BONDS.-The old pref. stock had a prior right to 7 per cent (non•cumulative); then common to 7. Prices of stock since 1879 have been: Common in 1880, 26½!@48 : 1n 1881, 33¼@60: in 1882, 231!s@39 7s; in 1883, 15@36¼; in 1884, 4.@19&,i; 1n 1885, 2@15¼; in 1886 (pur. com. receipts), 12@241!s; in 1887, 131s'w223a; in 1888, 12@1ti; in 1889, to Jan. 18, inclusive, 1212 @1312. Preferred in 1880, 51¼@883a; ln 1881, 64¼@96¼; in 1882, 45 7s@711!s: in 1883,2918@5712; in 1884, 9@32; in 1885, 618@25; in 1886 (pur. com. receipts) 233a·@41 7e; 1n 1887, 23!\l@38¼; 1n 188c', :nw 30; in 1889, to Jan. 18, inclusive. 24W257s, OPERATIONS, FINANCES, &c.-The Wabash St. Louis & Paciflc extended Its lines very widely in the years 1879 to 1882 (under the presidenoy of Mr. Bolon Hmnphreys), by tne acquisition or branch a.nd connecting roads, and thereby assumed heavy liabilities. Although the earnings Increased largely, the annual liabilities were still far in excess of the net pro:ffts. The road was operated in close connection with the Gould Sonthwestern system running into St. Louis, and the formal lease to the St. Louis & Iron Mountain Company placed th9 Wabash in com• plete control of the Missouri Paciflc prior to the appointment of rece\vera .for t,h e Wabash. On the Wabash, from .Tan. 1 to Nov. 30, 1888 (11 mos.), gr-0ss earnin~s of lines ea.at of the Mississippi were $6,028,069, against $6,386,896 in 1887; net, $1,130,673, against $2,020,9~9. In the Wabash & Western report for 1887, the followine; statement is made of the income account of both systems for that yer.r: RESULT! OF OPERATION OF COMBINED LINES FOR THE YEAR 1887. Wabash Total all Western Wabash lines East R'way Co. Railway. and West. Gross earnings..••...••..•••.••... $6,518,061 $6,902,109 $13.420, 171 Opera.ting expenses.............. 4,680,124 4, 784.,358 9,464,483 Netearninga ..•...•... ..•. .. .. $1',837,937 $2,117,751 Received from rent of track, &c.. 52,9:9 7,282 $3,955,688 60,262 $2,125,033 592,357 $4,015,950 986,363 -$1,890,917 Taxee, rentals, car trust int., &o. 394,005 ---- Net revenue applicable to int. $1,496,911 $1,~32,675 $3,029,587 -(V. 45, p. 166,403,438,473, 50~,540,573,643,696,744,793,821, 847. v. 46,p. 105,134, 201, 277, 511,539,621,669; v. 47, p. 327, 382, 473, 626: V. 48, p, 68, 100.) Wabal!lh We8tern.- The road owned includes those parts of the former Wabash St. Louis & Paciflc west of tho Mississippi River that remained in the system when the purchasing committee took possession in March, 1887; also certain lines east of the Mississippi that Judge https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I $2,700,000 7 3,009,850 6 &7 2,000,000 7 g. 500,000 7 30,000,000 ·,;·· 6,000,000 3,000,000 7 1,388,500 6 &7 g. 626,000 6 322,500 7to6to5 135,000 7 750,000 3¼ 1,800,000 3¼ 750,000 7 600,000 7 540,000 6 g. 1,784,850 312 1,000,000 6 1,000,000 7 748,500 6 100,000 6 2on,ooo 7 90,000 6 789,700 2:la 393,000 6 80,0uO 6 50,000,000 4 F. &A. } '80, were paid, with { F. &A. 6p:c.int., Dec. I, '88. Aug., 1889 Feb. 1, 190'7 ~. & o. Last coup. on other April 1, 1909 J. &D. bondawas paidin'8 t. June 1, 1909 J ..&•. J. N, Y., Commerce. Juit,·1;·i895 M.& S. do do Sep . 1, 1895 ,do A. &O. do 1903-1908 do do A.:&·o. do do Oct::. ii°i37 J. & J. July 1. 1899 J. & J. doatou, Bost.& Alb. RR Jan., 1889 A. &O. N.Y., Del., L. & W. RR. Oct., 1888 A. &O. do do Oct. 15, 1900 M. & 8. do do March 1, 1905 J; & D. Baltimore,Balt.& O.RR. Junel,1913 M .. & 8. Phila., Office,233 Bo.4th Sept. 15, 1888 J. & J. do do Jan., 1896 A.. & 0. do do Oct., 1899 M.&N. do do Nov., 1909 F. &A. do do Aug., 1925 J. & D , do do 1~98 M.&N . do do May-1, 1912 M.& 8 . Phil. Office, 233 So. 4th. Sept. 15, 1888 M.& 8. Phila., Fidelity I. T. Co. Sept. 1, 1910 J. & J. Phila.1 Penn. RR. Office. July 1, 1910 J. & J. N. Y:, Gr'd Cent. Depot Jan. 1, 2361 :sir: oi Cooley did not take. The total mileage operated Jan. 1, 1888, was re ported by the Wabash Western as 1,004 miles, made up as follows: Western Div.-St. Louis to Kansas City, 277 miles; Vine S~. to Fergu. son, 12 m.; Centralia to Columbia, 22 m.; Glasgow to Salisbury, 15 m.; Moberly to Des M:oines, 212 m ; Brunswick to Pattonsburg, 80 m.; Albia to Harvey, 23 m.; total, 641 miles. Eastern Div.-Detroit to Clymers, 213 m. ; Laketon .June. to Chicago (C. & 4. R.R.), 123 m.; Attic>a, to Covington, 15 m.; Sidney to Champaign, 12 m.; tota 1 , 363 m. Total mileage operated, 1,004 miles. The St. L. Ottumw,1o & C.R. RR. was taken i.n_by conaolillatlon in Nov. 1887, and bonds were issued on the road bearing 7 oer cent. interesi till Oct., 1889, then 6 till 1892 and 5 per cent thereafter. The D es M. & N. W. bonds a.re not guaranteed, the road being merely leased and operated by W. W. Annual report for 1887 in V. 46, p. 319, as follows: 1887. Oross earnings .............••..••..••........••...........•..••. $6,518,061 Gperating expenses ..•......•.••....•..................••....... 4,680,124 Net earnings ....•..••......••..•••.............••.•••...•. $1,837,937 Miscellaneous receipts.......................................... 52,979 Net revenue....•..............••...•..••...•.......••••.••... $1,890,917 Taxes, rentals, interest, &c .••.•••...•.......•••••••.•••.••..••• 1,310,743 Surplus for 1887..................... .•• . • • . . . • . . • •. . . • . . . . . $580,173 The interest account embraces only the nine month3 or its corporate existence, and a balance of $!50,816 is the actual net proflit of the lints operated during the period named, over and above all expenses and fixed charges. The operating expenses include all expenditures for new rolling istock and improvements, no construotion accouni having been opened on the books 01' the new company. -(V.45,p.744,887; V.46,p.319,351,352; V.47,p,42.) Ware Klver.-Palmer, Mass., to Winchendon, Mass., 49 miles Ii is leased for 999 years to the Boston & Albany Railroad at a rental of 7 per cent per annum. J. A. Rumrill, President, Springfield, Mass. Warren N. s.-Line of road, New Hampton Junction to Delaware Bridge, N. 18¼ miles. The road is leased in perpetuity to Delaware Lackawanna. & Western at 7 per cent on stock and bonds. John I. Blair, Prt\sident, Blairstown, N. J; · Wa8hln~on City & Point Lookout.-Hyattsvllle, :\fd., to Shepherd, Md., 13 miles. This road wa.s opened in 1873. Leased 1n perpetuity to the Baltimore & Ohio for $36,000 gold per annum, being in• tenst on debt (assumed by B. & 0.), and $3,600 for an accumulativ. sinking fund-no drawine;s. The stock pa.id in is $1,000,000. West Sersey.-Main line and branches-Camden to Cape May, Bridgeton, Riddleton, Sea. Isle, Ocean City, &c., 169 miles; West Jersey & Atlantic Railroad., 40 mile~; total, 209 miles operated. Sinking fund of $12,500 yearly for bonds of 1896 is invested in company's bonds and $556,250 were so held Feb. 1, 18.:,8, including the $100,000 Ocean City RR. bonds above and $100,000 Salem RR. bonds. In August 1887, 20 per ce:r.t new stock was issued to stockholders, a.i par, to provide for acquisitions and improvements, and a further issue was made later to absorb several of the branch roa.ds. D '.vldends since 1880 have been: In 1881, 4; from 1882 to 1884, inclusive, 3 and 3 scrip: from 1885 to 1887, inclusive, 6; in 1888, 6½. From Jan. 1 to Nov.30, 18881(11 mos> gross earnings were $1,4.t 9,188, again.st $1,370,at9 in 1887; net, $500,308, against $496,925. The annua.l report for 1887 was published 1n the OHBONICLB, V. 46, p. 509. Income account has been as follows: INCOME ACCOUNT, 1884. 1885. 1886. 1887. Receipts$ $ $ $ 492,958 Net earnings................ 503,305 476,627 503,274. 20,857 Other receipts.............. 11,966 14,008 21,350 Y., Total income ..••.•••.••• , 515,27l Disbursements$ Rentl'J.la paid................ 41,270 Interest on West Jer. debt.. 175,174 Net ea.rn.ofW.J.&A.RR.,&c 90,668 Dividends........ ••••.••..• 87,788 Rate of dividend............ 6 p. c. 490.625 $ 39,098 175,174 81,990 89,113 6 p. o. 524,624, 513,815 4~745 ld0,174. 90,081 89,140 6p.c. 39~154 182,343 90,65~ 89,ld 6p. 0. 401,291 Tota.I disbursements.... 394,900 385,375 401,140 112,5H Balance, Slll"J)lus. . • • . . • • . . • . 120.371 105,250 123,484, -(V. 4.5, p. 473, 614; V. 46. p. 191, 509.) We•t .Ter8ey & A.tlantlc.-Owns-Newfleld, N. J., to AtlanticOity. N. J., 83 miles; Pleasantville & Ocean City RR., 7 miles; total, 40 milell Opened June 17, 1880, and operated by West Jersey Railroad on • Joint traffic agi.-eemont and 25 ·p er cent of gross receipts on wes, Jersey from traffic of this road to be applied to any deficit in interea and then as alllking fund for bonds purchasable at 105, or drawn it over that. In 1887 net earnings were $78,456. Stock is $789,700J We•t Shore.-Line of road from Weehawken, N. J., opposite N. T.· City to Buffalo, N.Y., with branches to Albany City and Rochester City. abodt 448 miles in all. This company was organized in December. 1883'. as successor to tbe N. Y. West Shore & Buffalo, sold in foreclosure. . A lease of the West Shore property to the New York Central & Rudeo• ,Company fQr 475 years was executed in compliance with the plllll oC INVESTORS' SUPPLEMENT. [VOL. XLVUI ~ Subecrlben will conCer a great Cavor by giving Immediate notice oC any error dlllcovered In these Table1111 • DESCRIPTION. :.Or explanation of column headings, &c., see notes on ti.rat page of tables. ,r. Virginia Oent.~ Pitls.-lst M.,JZ".,$25,000 p.m.c· Jf,,11t'·n (Ala.)-ld (now lst),~.Cen.Ga. and Ga.KR . . o Cont5ol. mo .- t. , guar. by C.-,nt. Ga. & Ga. RR .••. o* 1Sutt:rn fl .Atlantic (Ga)-Inoome bonds .•.........•. -.,.Jttern Maryland-id M., endorsed by Baltimore. Gity of Bal,lmore stock, excha• gi>d tor 4th mort. tith mort., hel t by City of Hal ti more, a. fd .....•. Balrtrnor.... & Harrishurg RR., M (for $090,000) .. Mort. tor Western E,nen-ion 1$24f,,OOO) .•... o* ..-uiern N. 1". ~ ..,enns1,;lt1aTtia-Btock ($30,000,000) 1st mm;tgage ($10,0U0,000), gold ..•...••...•. .. c~ 2d wortgage (1st ou equipment, etc.), gold ..•.. o* income scrip, red. at op,'n do do Warren & Franklin, lat mortgage ....•••..•...•. Wuiern NortA Oarotina-lst moru#?8,ge ....•...•.. o 1st consol. mortgage, gold ($12,500 p:r mile> .. o* 2.d conaoL mort. ($l5,UOO p. m.) .••...•...•..... . .. Wutern PennBylvania-lat mortr~e, sink'gtund .. 1st mor:~• PittRhnr'1' Brano , stnk'g fund .••.. Consol. . or $5,000,000 g., guar., by Pa. RR .. o• Jnm w~tocK ($3~5,0UO of it pref.) ........•. Jnul.ing ct Lake .Ene.-Pret atook, 6 p .o., not cum. 1st mortgage. i;i;old .......... ~. . •.....•. . .•..... c • lilt M., Wheeling Div.,$ & £ (ld on 186 milst-) .c· llhhn. Ootum. ctA.ug.--Btook, 6 p. c., guar.Wil.&Wel. 1st mortgage ......•••..•...•...•........••........ o ll'tlmington, ~ North.-lat M., 20-40's ($1,000,000). !fitmington ~ Weldon--8tock ....................... . 8tnktng fd. bds., g., provided for 1,y gen'l mort c* Qen'l mort . for $4.uou.ooo (:Sl:t,000 per mile} .. o • Cert. of indebtedni>ss. non-own., income ..••...•. .SpeC'ial Trust oertitlcateR ..•...•... _......•...••.•. Winona~ /SOut/t, W.-lst M., U8,!i00 p. m. g ...... c .. 11v1KWS-rrm01 INTEREST OR DIVIDENDS. Miles Date Size, or Due, Amount Rate per 1 When Where P-Miable, and by pal,When Par Outstanding of of StockB-Last Road. Bonds Value. om. Cent. Payable Dividend. 1881 60 138 138 138 90 90 1870 1888 1873 1870 1872 .... . ... ·i·a isss 658 630 630 6 ~g iss1 1887 I 130 290 290 70 28 9i 65 186 186 . •••• 1 227 .... .... ...... .... .... .... .... .. i865 1875 1884 18134 1863 1865 18"8 .... 1s·sa 1888 isso 1887 . ... i885 . ·-· ,·sss - - -- $1,000 1,000 1,000 1,000 500&0 100 $1,650,000 6 g. J. & J. bl. Y. Office, 1 Br'dway. 1,171,000 i\.. & o. N. Y., H. B. Hollins&Co. 8 372,000 do do 4¼ A. &O. 131,000 10 Q-J. Atlanta, Co.'s Office. 875,000 J. & J. Ba.it., N. Mechanics' B'k 6 1,000,000 do do J. & J. 6 1,aoo,000 M. .&.N. Balt..Company's Offices. 483.000 ~40,000 M.&N. 1:000 do 5 do 1uo 19,724,344 ··5·g. J .•&.J. N. Y., Bk. of New York. 8,400,000 1,000 1,uoo 20,000,000 3g.or5so. A. & O. do do 81 ~ 722 A. & o. 5 None paid. 800,000 F. & A. N. Y. Office, 35 Wall st. 500&:c. 7 850,000 M.&N. Raleiirh, N. C. 7 2,675,000 6 g. J. &J. N.Y.,Rioh.&Dan. 2Wall 1:000 1,000 4,110,000 A. &O. 6 71)0,000 A.. & o. PhilMelphia, Penn. RR. 500 &o. 6 4.35,000 do IOO&c. do J. & J. 6 1,000 3,000.000 4 g. J. &D. Philadelphia. 1,300.000 ·ioo 2,600,000 Q:.:::F. N.Y., Office, 2 Wall St. 1 3,000,000 1,000 5 g. A. &O. N.Y., Mercantile Tr. CO. 1,000 1,500,000 5 g. J. & J. N.Y ,Cent.Tr.Co.&Lona 100 Wilmington, N. C. J. & J. 960,000 3 l,OCO 1,600.000 J. &D. N. Y. and Baltimore. 6 500,000 J. &D. Co.'a Offloe,Wilm. & Del. 500 5 100 2,500,000 J. & J. Wilm.,N.C., C-0.'s"Offloe. 4 1,000 936,000 7 g. J. & J. N. Y.,Bost.,Lond.,Fra.nk 2,260,000 1,0110 J. & J. N. Y. Balt. & London. 5 2,500 000 A.. & o. Baltimore. 7 LlOO 380,000 6 (!) 61! . A. ·&·o. N. Y .• J~\Yaiker &8ons. Dioo .... ··1r - July 1, 1911 Oot. 1, 1890 Oot. 1. 1918 Oot. '89 to '90 Ja.n., 1900 Jan. 1, 1902 Nov:·i:·i936 May 1, 1938 ·--· ---· 1.i Jao. 1, 1937 1927 Oct. After 2 years Feb. 1, 1896 ~ 1 1890 J y 1, 1914 Oot., 1914. Aprll l, 1893 Jan. 1, 1896 June 1, 1928 Feb:·i5:·i889 Oct. 1, 1926 July 1, 1928 Jan. 10,1889 June 10,1910 1907-1927 Jan. 15, 1889 1896 19i5 ........ 0 Aprii"Ci92a I B""cond mortgage coupoM due in 1888 were pald in scrip, reorganization in 1835. The $10,000,000 of stock is owned by the New Frum Oct l. 11388, to Nov. 30, 1888 (2 months), gross earnings were "York Central Company in oons1rteration of that company's guarantee l, against f;-i93,628 in 1887; net, $154,0lll, agst. $l01,568. $598,-t3 mot·trhe tO.f the principal and interest of the $5 ,,oOt),000 or new bonds. The report for l887-8~. was tn the CHRONICLE V. 48, p.l98, and gave p~e is ma.de to tht, Union Trll.8t CO .• as trwtee. and covers the line of road. Weehawken to Buffalo with branches . 44"i miles in all, 1'nd also the earnings for ten months only, from Dec. 1, 1887 as below. 1887-8. 1886-'7. the termtnals at Weeh11.wken by ownerahi .., of all the Rto<·k and t>ontls of 10 month8. 10 months. ihll Terminal Company. The guarantee of the N. Y. Cent. & Hudson $2,567.938 Gross e~rnings ..•...•. . ..••. .•••..•..••..••. $2,250,229 :\aa.bsolute as to interest 1tnd priucipa.l and is endorsed ou each t>ond. l,l:.i18,373 We8t Va. Oentral & Plttsbor~-A coal and railroad company in Operating expenses ......................... 1,832,563 $7c>4,ao4 Net earnings ..••.• _. ..................... f4l7,tstH:i Ne8t Virginia in the upper Potomac re,11;ion-the Elk Garden Coal Field. 0wns roe.d in operation from Piedmout, W. Va., t•o Davis, W. Va., D &a ·uct$52,971 Rentals ............................................... ····-~ , iS wiles; Branch, S uaw. W. Va., to Miuevill~, 2 miles; total. 60 mil,.s. 65,624 T a xes..................... .•••..••..••.••. .. ..•...••.••. •••. Jiti,.tensions in l rogrePs. Owns 82,::44 am·es of coal and lumber Jami& 47,479 Insurance, interest, &o.................................... . oovf'red by the fl.1st wort/?,, and haA miueral rizhta on 5,407 acres mo •·e. $Lti6,U74. net 1887, Tn ,W7,J~9. $ net, it'657,110; were earnings gross -< Ji-8 Ill proitts on coat s11let1, $~ 1,982; net fro~ l"allruad. $71,394 ~ total 1 :-if t income for 10 months..................................... $588.439 32!l,704 '.llet revenue, $1~3,3711; mterest p aid, $68,560; a11rp~u11, $ ti_0,635. 1 Cnterestou 1st mortgage bondesa.meperiod.................. fJoo report, v. 46, p. 480. Stock, $5,500,000. H. <J. D a.vis. Ba.ltlliloro, Surplll.8 .•• •··············· •·······················--······· ll!~5 8 ,78a besident: 8. B. ~lkins, Vic&-P1·esident. · (V. 46, p. 480, tn0.) we.tern A.Iabama.-LINE OF RoA.D-Selma to Opelika., Ala., 116 -(V. 4?• ~- 7~, 173. 198, ?01, 24.5, 353, 413. 538, 539, 803; V. 47, p. milett; branch, Opelika to West Point, 22 mlleR; total, 138 miles. l09, 161, 1.78, V. 48, P- 70, 98.) Was a conaolidaliion in 1870 of Montgomery & West Point and W-,.it- 1 ,ve8tern Nor&h Oarollna.-(See map of Richmond ~ W. P. ern of Alabama. Bold May 10, 1875, in toreoiosure and purchased I rerm.J-Owna from Salisbury, N. C., to Pd.int Rook, Tennessee jotntly by the Geor~a Railroad and Central Railroad of Georgia. ln ;tate line, 190 miles; Asheville to Jarrette, 100 miles; 1i0tal, The road was financially embarrassed, and was Sept., 1888, the coll8ol. mort. was is~ued t., retire bonds falliu~ due, '. 9l> miles. $1,171,000 bonds oeing roser ved to retire 2rts. due Vet.• 18::JO In I lllrohased April 17, 1875, by commissioners for the State or North l.i:s~7-do ~roaEO ·~arniugs wern $4!-16.:.WO: net. $114.~12; deficit undt:r , Ja.roliu11,, and subsequently finished by the Richmond & West Point Ter; n111a.1 Rallway & War-eho11Se Co. In May, '86, it was leased to the R .&D. intereat, &c., $9,228. Stook, $3.000.000; pu-, $l00. We•iern & A.tlantlc.-Atlanta, Ga., to Chattanooga, Tenn., 138 Uompany. Stock, $4,C00,000 common and ~,000,000 pref. The seo:mlles. Built by State of Georgia and opened in 1850, and by an act of I md cons. _mortJ?age for $4,110,000 and $1,32.>,000 . of the 1st console. ~tol>er 24, 1870, was leased to a company for twe nty years at a monthly 1 1r ~_d ... pos1ted to secure the collateral trust of the R10b. & W. P. Term., :t.Antal of $25,()00. Gross earnin~a in l8!:!7, $l,'ld5, l-!9; surplus over wh10h Ot>?Jpau.v also owns $3, L68,800 common and $3,168,300 pref. -,to ck; $8.>0,UOO of 1st oonsols are reserved to retire the 7 per <'eats. interest &o $198 338. see v 4 ,) p 85 .FrnmOot. 1, 1887,toSept.30 in l ti 88 (12mos.) i;i;ross earnings were . . . ' • · · • ·• • Wesiern 1'.laryland.-LINE of ROAD-:Baltimore to Williamsport i,629,.179, against $660,600 in 18o6-7: net, $99,639, a~ainst $:12,022. Md., 90 miles: Emmitsburg Branch, 7 mUe:s. Leac;es - B..1,lt. & (?nm. , n 18 ~ 7-8 ➔ gross. $629,379; net, $85,222; deficit under charges, $99,V.al. RK. a~d exteuRion; Edgemont to 8hlppen;, li1r~. Pa., 34 mi:1_as; G33. In yen.rending Se.Pt. 30, l!:!87, gross earnings were $660,599: net, lialt. & Harris. RR., Emo!'Y Grove, \id .. to V,i,lley J,mc., Pd.., 28 mt.es; ~84,350; interest (not moluding any on bonds held by R. & w. pt. ~a.n over Juno. to Ortanna, Pa., 32 miles; ~es tern ex ten .. qrtana t •• rt-rm.), $lt:i0,7-1l; deficit,$ 76.a92. Beµt. 30 188 ~ there ·was due other companies, $1,248,016. (V. 46 :Fatrtleld, 4 miles, _and lea1Se t branc·bcfl, 17 mile,.; total, .!12 miles. lhe ' L• 69 ~ ) ' Balt1mure & Harnsbnr,c wa.Q leased m No _., , 18!:!6, for !J9 yeare. · · The stock is $68-t,700; par. $50. t·ne company was largely asRisted We8te~n Pennsylvanla.-Owns from. Bolivar ~ Allegheny City, l)y the city of Baltlmort-, aJJ<1 wa.R unable to pay full interest. Jan. 1. 1'887, the city, with a u issue of a14 oPr uent i.took . paid ,.ff toe ht, 2tl Pa., 70 miles; Oran.on to Butler.Pa... 28miles, tota.1,98 !Diles. Anew 1ease and 2d prE:f. mortga~t>s and the ovPrd ite coupons on the lat and 2il to r.h_te Pennaylva.ma. Railro~ for 50 years was made m 18~3; rental net pref. (except those ht!ld by the city itself>, re,ieivLDs:t tu re urn a ttrtll ear_nrng11. The Pennsylvama Railroad, lessee, owns $1,2,8,350 of the rtga!le on all tha company's property. Tile 4Gh n'ortgage is al:,io $1,800 .000 stock (par $50). The c~nsoL ~ort. bonds of 1888, guo.ra.nteed oy P, nu. RR., rep1aoed old ftv~ pe1 cents, $1,225,0~~ bonds ~re rese_rved eld i,y' tne oity. 1 uti Ba.I.ti.more & Harrisburg RR. was formed by consolidation o r I or pr10r bonds. Gross e.l.rnin~s in 18~7, $1,434,6.>5, net, $.>28.241, sura.rveral sma.llt-oadi in 1~86 and leased to the WestPrn M >1.r.v land, which 1:l us oq~r.o~ar.~ es and 3 pe~ o_ent dividend, $2~4,500. Gross in 1886, al8o owus a lar~e amount of the stoi,k; of tile i1-1sue uf $f)90,000 bow1s, $1,347,,..o5 ,,net, $ 607,542, dividend, 3 per cent. In 188~ pald 6 per '207,000 are} eld ln trust to 9ay off prior morts ln 1888 a n ew morli. .:eut.-(V. 4 6, p. 4 81.) Wheeling & Lake Brle.~Toledo, O.,to Bowerston, 0., 174mlles, iras tssued to extend th -1 B. & H to Blue R •t!!e Sumcnlt. vtd., 15 mtlei1 . 1''1so ,l vear ends Sept. 60. Report for 1887-88 wa,1 in CHROSICLE, V. and bra.null to Huron, O., 12 miles. The ro!ld was sold in foreclosure .tf1, p. 708. Operatiorui on m~tn line and B. & C. V. R ~- (an LI uolut.l.m!! April 23, l 8i:!6, and new company organized m July, 1886, with etook of altiu Halt. & Har. in 1887-88) 'l>t.ve been a~ tollows: l886-7,groas :t;~.600,000 (iHOO shares),wnichinMarch,1888,wasmadeapreferred &&r••kiKs, $6:'l9,4a4: net,, $2tH,109; in 1887 S, gross, $771,:HO; ne L, H per cPnt Don-cumulative stook, common stock f<>r $3,500,000 oeing a.utlrnrized. D ividends on pref. stook have been: In 1888 3 ~r oonq $_,90,til:!4. 4 V. 47. p. '708 .l Wel!ftern NewYor-k. & Pennsylvanta.-(Su lfap) - Llneof Road iu 18 9 to date, 1. Mo~tga.ge of 1888 for $l,500,000 was issuea. to ex• -Bll1lli1o utvision-Hu.tf&lo, N. Y.. to ~rnporirnn, Pa., 121 mllea., Larabeti, t enrt the road to Wheeling from Bowerston, 0., aud the contractor paya l"'ci., to Clermont, Pa... ~2; Pittsblll'g Division-Buffa.lo, N. Y., to Oil I be interest on this till Jilly, 1889. In year endillg Ju_ne 30, 1888.gross Ctiy, Pa., l~ti; Titusville, Pa., to t'ioneer. Pa., 9; Ole a n, N'. Y., to earning-1 were $818,353; net, $241,710; surplus over mtereat, $96,3Sl8 ; OtI City, Pa., 116 miles; Oil City to New Castle, Pa., 06; Tryon ville 1ltvide11d paid (2 per oent) $70,268. Geo. J. Forrest, Preaident, .2 Wale 1b Union City, 17 miles . Rochester 1J1v1a10n-Rouheater. N. Y., to Hins- ~t., N. Y. 1V. 45. p. 26, 85, 871; V. 46, p. 371,538,650; V. 47, p, 139, dal.6, N. Y., 99; Olean. N. Y., to Brad.ford, P11,., 26; Bradford, Pa. , to 325. 5fi3; V. 48, p. 38.) White Water -Valley Junotlon o., to Cambridge City, Ind., 65 XntzlUI,. Pa., 28; El<.lrod to Tarport, l8 miles; <.tene,iRee Valley Ter. RR., 3 wiles; total operate<:'-, 81wr.. ~o. 1888. 658 ~Ues, of which 3ti mU..,i; miltis. fhis w11,s formerly the White'water Valley, sold ~ foreclosure are leased. The :-1wa1n's Bra. ooh. owut1d L_L rmlte, ui leased to L~ & P. .\lay 2, 1878, an<l reorganized under this title. In year en<liI!,g April 30, 11.R. B ranch to Johu.aonburg on Phil. & Ene to be completed Ill Eebru- L8 .7 1 ~ross earns. were $95,567; deficit, $5,498. Elijah 8m1th, .Pres't. . I I I -W:,llmln~ton ~olumbla & A.ugusta.-0'\\'.'ns fromthWi!min~ton, ai{iJ!~~pany was organized Nov. 22, 1887, as successor to the Buf. th fa.lo New York & PhUadeLpllia ca oonsolidati11n of 1,;~3), which beca•ut ~- C., t 11 i , ..mllllna, 8 · C., 189 miles. Lea.Uses joLa.mtly 8wi0 toNo8r eteastum r, ne, · ., eIDuarra88ed in 1884 and wu.s sold in forbolosure Se pt. 15 18-37. Tht ern ::1. C. R~ .. the Central RR. of ijouth Caro na., 227 miles. -;. c .. 38 lillles. Total operated, Ootober, - ', v 42 • ti c d F b 18"6 · 1 · 1879, for $860,500, and oomRoad was sold in foreclosure, e ·• o • wa-1 m ae H~OJSlt,LE, . flan of reorgaruzat onctate der present style Dividends of 6 per cent yearl7 ~· . ed. 242. Of tile old bonds 11,ll but $80U,000 Warren & F111,11kllu bond-1 a t • ~1. si r~o~ 18 mtired, and for tht'se firdt mo1 .t ga_ge bonds_ are r~tained _to p-t.y them _111 In June 188 J. the road and property of this company were leased for !,896. TI:Le. 2d mortg. bonds_ are aeoon~ lieu on the railroad a.ud tir s ou term.male, coal and eqlllpment, subJ eot to lea ~~ or _ter~ma.ls ano ➔ 9 ears to the Wilmington & Weldon, the lessee to pay a.U interest and equipment .to lat mortg. L,o ,111h11lt.l.ers it fureclo-1(?!.l T1_U. Ja.n., 18!J ~. rtx:.!d ohar"'es and 6 per oentdividend on the stock, payaolo semi-a.nnu• .11 in J a nuary and July. ln year ending Sept. 30, 1887, net receipts tht!y _bear rnterest &t the ra~ _o f 3 i;>er ceu_t, bu~ tl~l 1893 mterrl8t ~at Y $t69 144. th surplll8 income over interest and dividends wa.s 1te paid wholly or partly .m scrip as to1low_s. 1 p er l,ent cas~ 4 s~rip, l _. -l 4 : aid dettoft Central RR. of s c., $2,753; in 1887-8", gross ca,,-~~ scriN :.:: casll 2 scr!p; ~12 cash l 11or1p; or 5, per cent 1e paid allu ·7 · 9'59.,i9.P t ,s,40 648. surplus $i8 499 over interest and dividend&. so1ip,_atterl898 tberate is 4 p. c. cfl,Sh and, if eamert. 7 per cent m •) ' • , ne - , •, be i,a.1d. I.mt after 3 per cent ha.a bePn paid on second m •,rtga.11:e bonds. the stock and seconds share alilrn. l'he scriµ rssned for intur.-,st oear, -(V. 47, p. 80 l.) Wllmln~on & Northern.-Owns !rom Wilmington Del.. ~ f>. JN!r cent inte1-eat, non-onmulative, payable only tr earned, is seouret ~irtl:,iooro, Pa., 64 miles; branches, 24 miles; t.otal owned 87 miles; liy the ooupoll8 placed in tru:4t therefor. and 1s due 20 .rear:. rroill date ,raolrn.~e le"\sed, 5 milell; t.ota.l operated, 92 ~ilea. This company ~ redeewable at option. It iii convertible into income debentUI"PS KM organized Jan. 18, 1877, as suooessor to the Wilmin~n & R ~ g al8o non-cumuLt.tive, and pa.,> able at op tion. Tru.stee or lat mor,. Jlercamile Trll.8t eo., of N, Y.; or 2d morli. Fidelity T. & 8. Vep. Co ~&. Co., which defaulted on its interest and was sold in loreclo meta ~81•, ec i'biladelpbia.. (86t! mortgage ab8t1'8,0~, CHRONICLE, V. 47, p. 11.19.1 1., 1876. The mortgage tor $1,000,000 waa authorized to cant 8.LUJW . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis !). ~:~! ~:•;~~;~td ;~r https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AND PENNSYLVANIA AND CONNECTIONS. R. R. Q INVESTORS' SUPPLEMENT. 134 [VOL. XLVIII.. wm conCer a great t'avor by giving Immediate notice ot' any error discovered In these Table•. Bends-Prlnol• DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size or When Due. Amount Rate per When Where Payable, and by pal, •or explanation of column headings, &c., see notes of Pa.r of Stocks-Lael on first page of tables. Road. Bondi:! Value. Outstanding Cent. Payable Whom. Dividend. Subscribers JVi.Bconsin Oent. Oo.-lst mort. (for $12,000,000).c* Income bonds, non•cum. (for $9,000,000) ..•... . c* Chio. Wis. & Minn.-lst mort., gold ..•......•... c" do do income bones, 6 p. cent, cum. Wisconsin Oent RR.-Con. mt., pref. land gr. notdr'n Consol mort. 1st series, gold ..•................ c&r Con. M, 2d ser's, income tnot cumula've)gold.c*&r Worcester Nashua d Rochester-Stock .•............ -~~:t: :~~::i: :::::::::::::::::::::::::::::::::~: Nashua &Roch., 1st mortgage ..•..••...••...•... c'' W. N. & H.-Mortgage ..................••..•.... cZanu. d Ohio Ri'Dt.r-lstM., gold, $25,000 p. m .. c~ -.... ------ - - ----- ---5 g. J. & J. N.Y., 36 1887 $1,000 $6,660,000 1887 i22 1885 .... 1885 326 I 1879 326 1879 326 1879 94 .... isfa .46 94 74 1875 1874 1886 1886 1,000 J,000 1:000 500 &c. 500&c. 100 500 &c. lOOO&c. 500 &o. 1,000 100 &c. 5,743,000 2,860.000 l,Oi0,000 400,000 2,4£6,500 2,336,000 3,099,800 250,000 400,000 565,000 150,000 1,700,000 5 g. 6 .... 5 5 7 3 5 5 5 4 6 M:&·s M:&· S. Wall & Bo11ton July 1, 1937 July 1, 1937 New York,. 36 W1:1ll St. March 1, 1915, g. Boston, 50 State St. g. J. & J. do g. J. & J. No coupons paid. J. & J Worcester, Office. A. & o. Bost., Globe Nat. Bank. F. & A. do do A. & 0. do do J. & J. do do g. F. &A. N.Y., H.B. Hollins & Co. 5 p·:ct:y:e·arly Jan. 1,1909 Jan., 1909 Jan., 2, 1889 Aprtl 1, 1893 Feb. 1, 1895 April 1, 1894 July 1, 190& Feb. 1, 1916 CANALS. Okuapeake d -Delaware-Stock ...•.. ..••........•... 1st mortgage (extended in 1886) ..............••. r Okuapeake cf Ohio-Stock ........................•.. Maryland loan, sinking fun<;l ..•...•...•..•••...••.. Maryland loan, guar., sterling ................•••. Bonds -having next preference ..•........... . ..... Repair bonds, Act 1878, first lien ..........•...••. DBlaware Division-1st M. (ext'd 20 yrs. in 1878).c Delaware d Hudson-Stock .......................... 1st mortgage, registered ..........••...•........... Debentures secured by Penn. Div. bonds ....... c* 1st M. on Pennsylvania Div. ($10,000,000) .. c&r Cherry Valley Sharon & Al., 1st ID;Ortg ........... Schenectady & Duan, 1st mortg., mt. guar .....• Lehigh Ooal cf Navigation-Stock.. . . . . . ........... Loan, conv., coup., gold (assumed L. &·w. Coal Col 1st mortgage, reg. (extended at 412) ............. r 1st mortga.~e. re,ci.stered, railroad ................ r 14 14 184 184 184 184 184 60 595 ··-· ---- ·2i 14 339 ---.... -- -- 1886 .... .... .... 1878 1858 187i 1874 1877 1869 1874 ..... 1869 1864 1867 $50 $1,903,238 500 &c. 2,602,950 25 3,851,593 500 &c. 2,000,000 500 &c. 4,375,000 500 &c. 1,699,500 500,000 800,000 1:000 100 24,500,000 1,000 5,549,000 1,000 4,829,000 5,000,000 lOOO&c. 300,000 ..... 500,0UO .. ifo 12,799,250 500 &c. 685,500 Var. 5,000,000 Var. 2,000,000 I J. &D. Philadelphia, Office. J. & J. July T,--i91e do do J. & J. . ....... Q-·J _ ·isiii" .......... Q-J. 5 -......... 1890 J. & J. 6 1885 ..... -··-·· J. & J. Jan., 1887. last paid. 6 1898 J. & J. Phila., 226 So. 3d st. 6 July 1, 1898 112 ~-Mch. N. Y.Of., 21 Cortlandt. De<'. 15, 1889 . & J 7 do do Jan. 1, 1891 A. & 0. 7 do do Oct. 1, 1894 7 M.& 8. do do Sept. 1. 1917 7 J. &D. do do 1899 M.& 8. do 1924 6 do 212 J. &D. Philadelphia, Office. Dec. 11, 1888 6 g. M.& S. do do 1894 Q-J. do July 1, 1914. 412 do Q-F. 6 do do Feb. 1, 1897 ··1r ..6. tng debts and to pay for improvements; but onJy $500.000 can be issued The annual report for 1887 was in V. 46, p. 826, showing gross reon present mileage. Gross earnings in 1886, $384,237; net earnings, 1 ceipts or all Jines operated, inclu<Ung land receipts, $3,862,320; net, $54,272; other 1eceipts $1,680. In 1887 gror,s $383,336; net over expenses and taxes, $49,075; surplus _over :fixed ch~rges, $36,347. Paid interest, $12,570; bonds redeemed, $2,400. (V. 45, P, 614.) Wllm.lngton & Weldon.-Owns Wilmington to Weldon, N. C., 162 mlles; branches-Tarboro, 17 m.; Scotland Neck, 43 m.; Fayetteville, 71 m.; Spring Hope. 20 m.; Warsaw, 13 m.; total owned, 326 miles. Operates Albermarle & Raleigh RR., Williamston to Tarboro, 32 mileB; Midland of N. C. RR., Goldsboro to Smitbtl.eld, 22 m..; Floren<Je RR., 27 m.; Mancthester & Aug., 16 m. Leases Wil. Col. & Augusta, 189 m.: Central South Cdr. (joiJ..,tly with N. E. So. Car. RR.) 38 m. Total or a,U 650 miles. Exten~ion to Greenville and to Plymouth. N. C., 36 miles, in progress. Leased Nov., '72, to Wil. Col. & Aug RR. for 99 years. The lessees made default December, 1877, and the lease was surrendered Afril 13, 1878. In June, 1885, this company took a lease for 99 years o the Wilmington Columbia & Augusta. 1Seethat company above.) There was Sept. 30, '88, $1,768,931 to the credit of the sinking fund. The certificates of indebtedness, $2,500,uOO, were distributed to etockholders in JcU1ua.ry, 1887, as a scrip dividend. Dividends aince 1877 have been; From 1878 to 1881, inclusive. 3 per cent; in 1882 and 1883, 6; from 1884 to 1888, inclusive, 8; in 1889 to date, 4. The :ti.seal year ends Sept. 30. Report for 1887·88 was in CHRON .CLE, V. 4'7, p. 801, giving earnings on 322 miles, including Midland of N. C. INCOME ACCOUNT. Receipts1884-5. 1885·6. 1886-7. 1887-8. Net earnings ••••. $373,141 $374,100 *$398,312 $548,129 Other receipts.... 29,937 103,182 158,773 165,288 ____ Total. ..••..••. $403,078 $477,282 $557,085 $713,417 Di8bursements- Interest........... $79,365 $138,353 $327,708 $355,020 D1Vidends ... . {8 %) 166,592 {8%) 200,000 (8¼) 200,000 (8 %) 200,000 Total ...••..••. $245,957 $338,353 $527,708 $55!:,020 Balance, surplus .. $157,121 $138,929 $29,377 $158,397 In 1886•87' the net receipts incltllle those from the W. C. & A. lease and the int. payments, $175,000, pa.id on certificatess of indebtddness. -(V. 47, p. 801.) Winona & Sonth-w-e•tern.-Road projectE\d from Winona, Mrnn., io Omaha, Neb., 375 miles, completed from Winona to Bear Creek, 21 m. Has close alliance with Green Bay Winona & St. Paul RR. Trustee of mortgage (for $6,950.000), Farmers' Loan & Trust Co. Stock: Com mon, $3,750,000; preferred, $3,750,000. Hon. William Windom, P1·es• ldent. (See V. 46, p. 819; v. 4.7, p. 140, 626.) Wisconsin Central Com.pan:, .-This company was organized in 18'87 to gather into a single corporation the ownership and control of the Wisconsin Central Associated Lines, yjz,: l\Ilnnesota St. Croix & WiBconsin, llOmiles; Wisconsin&Minnesota, 54mlles; Chippewa. Falls& Western, 10 nules; St. Paul & St. Croix Palls, 5 miles; Penokee, 50 miles; Packwaukee & Montello, 7 miles; Wisconsin Central RR., 344 miles; and the leased lines, Milwaukee & Lake Winntbago, 65 miles and Chicago Wisconsin & Minnesota, 122 miles; total, 767 miles, of which 370 miles, being the property ot the first six roads, had been acquired and was operated by the company June 15, 1888. The Wisconsin Central Company now owns substantially all the stock and bonds of the six :flrst-nan:..ed roads, and about seven•eighths of the stock of the Wisconsin Central RR. Co. It thus acquires complete control also of all the leased lines. It bought about $8,500,000 first mortgage bonds of these di:lforent companies with its own bonds, and exchanged for its own income bonds all the income bonds of the six first-named roads and about $3,800,000 s1:cond rnries bonds of the Wisconsin Central RR. Company. Its ownership of about two•thirds of the W~onsin Cen~ral RR. first mortgag~ bond~d debt ~".es it a corre• sponding interest m the land grant and iron mmes ana Blllkrng fund of that company. July 1, 1 888, the company consolidated into itself the six first-named roads, but the Wisconsin Central RR. and its leased line is stiJJ operated by trustees, though in . harmony with the consolidated road. Its total capitalization is as follows: First mortgage boncts, $12,000,000 at 5 per cent; income bonds, $9,000, • 000 at 5 per cent, non-cumulative; preferred stock, $3,000,000 at 6 per cent, cumulative; common stock, $12,000,000. Trustees for mort. tor both firsts and incomes, John A. Stewart, of N. Y., and Edwin H. Abbot, of Milwaukee. Its total issue up to June 15, 1888, was as fol lows: $6,660,000 first mortgage bonds, $5,743,000 income bonds, 24,415 shares preferred stock, 111,335 shares common stock. The remaining bondfl and stocks are available for further exchanges and the improvement of its pr<_>perty._ . . . . The Chica_go Wisoonsm & Mmnesota, from Schleismgerville to Chicago & Great Western ter~inals i°: Coo~ Co., ~11., 122 miles, was leased Sept. 1, 1885, in perpetmty to W1sconsm & Mmnesota, now a!:>sorbed by Wiscons'in Uentral Co. Rental is 37·50 per cent of gross earnings, less its proponion of t, rminal char~es, but surplus ren~al over $350,000. y1:arly is divided lqually w ith lessee. Permanent improvements or cleredjointly are paill for out of 20•year 6 per< ent debentures, convert ibleinto common or preferred stock, as may be a;reed; lessee pays in terest on such debentures for first ten years oLly. Stock is: Common, $1,010,000; preferred 6 per cent, cumulative, $1,560,000. Improve• ment notes, $205,(JOO. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $997,852; tot. charges, $1,215,132. rVA6, p. 471, 826; V. 47, p. 52, 4.73.) Wisconsin Central Railroad.-Owns the main line and bra.nchee, Menasha to Ashland, 253 lll.; Stevens Point to Portage City, 71 m.; branches and spurs. 25 m.; total owned, 349 m. Leases: Milwaukee & Lake Winnebago. Neenah to Schleisingerville, 64 miles; Packwaukee to Montello, 7 miles; operated under contract, Milwaukee to Schleisingerville, 33 miles. Total operated. 450 miles. This road is still operated independently by kustees, but in harmony with the Wiscon.sin Central Company consolidated lines. There was a land grant of 831,976 acres, of which to Dec. 31, 1887, 222,410 acres had bat>n sold for $624,453, and 2.473 town lots and 28 blocks for $113,747, receipts from pine stumpage to tllat date bein~ $909,· 270. Interest on tlle second eeries of bona.a is payable Jan. and July, but dependent ea.ch time on the net earnings of the half year ending si~ months bef01·e. The stock of $2,000,000 preferred and $9,435,500 com• mon was depositea in trust with Stewart and Abbot, Trustees, to be voted on until all interest should be earned and paid on bonds Tru.stees' certificates for new stock (without voting power) were issued to the old stockholders, which oa.ss as a delivery on sales. Nearly all the sto.c k is owned by the Wis. Central Oo. Proceeds of land sales go to sinking fuud for consolidated bonds; no drawings. 'l'h6 Milwaukee & Lake Winnebago RR., from Neenah to Schleisingerville, is leased for 99 years; the rental is 3712 per cent of gross earnings up to $175,000 per year, all surplus to ~o equally to lessor and lessee~ and the bonds are issued subject to this lease. In July, 1887, the control of allied roads under one management through the Wisconsin Central Oompany (which see above) was proposed, according to the terms given in V. 45, p. 54, which has been carried out to a large extent. The exchange of stocks and bonds by Wisconsin Central holdera was optional, and in the table above is given the amount not exchanged prior to June 18, 1888. Report of operations for 1887 in CHRONICLE, V. 47, p. 107. For four years the earnings, &c., were: 1884. 1885. 1886. 1887. Gross earnings ........ $1,429,075 $1,-161,004 $1,565,313 $2,050,291 Operating expenses... 957,745 941,881 1,182,080 1,509,581 ---- -$519,123 - - - -$383,233 - - -$540,710 --- Net earnings ...... $471,330 Rentals, Qjl,r serv., &c.. 319,650 310,406 366,559 473,842 Balance............ $1!'>1,679 $208.716 $46,674 $66,868 -(V. 45, p. 26, 240,573; V. 46, p. 228; V. 47, p. 107.) Worcester Nashua & Rochester.-Owns from Worcester to Nashua and Nashua to Rochester, 9! miles. This consolidated company was formed Deo. 1, 1883, by a. merger of the Worcester & Nashua. and its leased line, the Nashua & Rochester. In October, 1885, a lease of this property for 50 yea.rs. from Ja.n. 1, 1886, was made to the Boston & Maine RR. Co. at a. rental of $250,000 e.nd taxes. For 1887-8 rental $250,000; net over d.ll :fixed charges. $162,798; paid dividend at 6 per cent, $183,834; detl.cit, $21,036; total deficit to Sept. 30, 1888, $192,051. Dividends since 1883 have been~ In 1834, 112; in 1885, 3 and 17 stock; in 1886, 3; in 188 7 and 1888, 6 ; in 1889 to date, 3. Zanesvllie & Ohio Rlver.-(See .Map.)-Owns from Zanesville, O. • to Harmar, on the Ohio River, opposite Marietta, about 80 miles, in• eluding branches, 6 miles. Whole line put in operation in July, 1888. At Malta road connects with the ShawnP-e & Muskingum River Railway, constructed by parties interested in the Z. & o., and having a coal traffic secured by contra.ct for a term of 30 ye,1,rs. The mortgage is for $2,000,000; the Mercantile Trust Co. of N. Y. is tr11stee. A sinking fund will come into operation in 1891, bonds being bought in the open market at par and accrued interest; in lieu o:f this funds are to be invested. (V. 47, p. 50.) CANALS. Chesapeake & Delaware.-Delaware City to Chesapeake City, Md, In July, 1886, a heavy defalcation by the Treasurer and an over-issue or bonds was discovered, amounting to $609,200, and in 1886 the company retired its old bonds and issued $2,602,950 of new 5 per cent bonds maturing in 1916, thus coverin"' the over•issue. (See V. 43, p. 367.) In the year ending May 31, 1887, gross receipts were $196,331 and net $142,125; surplus over interest. $11,978. (V. 43, p. 22, 49, 367; v. 45, p. 52; v. 46, p. 738; v. 47, p. 801.) Chesapeake & Ohlo.-Thiscompanywa.s assisted with loans by the State of Maryland. It has long been unable to meet its interest, except un the Repair bonds of 1878, a,nd these too have been in default sinoeJan., 1887. The Baltimore & Ohio own a majority of these bonds. In a suit against the company the Court (January, 1881) declined to appoint a receiver, but ordered the company to report at stated times its receipts and payments. In addition to the r..bove indebtedness, thecompany owed Jan., 1888, $1,600,500 in the shape of small issues of bonds, a.ebt certl:ticates, pay roll accounts, etc. In 1887, gross earnings were $129,207; expenses, $17-!,294. In 1888, gross earnings were $129,469; expenses, $126, 769.-:-'(V. 46, p. 38.) Dela-ware Dlvlsion.-Leasetl to Lehigh Coal & Navigation Co. at interest on bonds and 4 per cent a, yea,r on s-i;ocik (pa,yableJ Q-FJ JANUARY, 1689, J RAILROAD STOOKS AND BONDS. 133 MAP ON THE ZANESVILLE OHIO RIVER AND o< <>1,~ Chesterville 0 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILWAY INVESTORS' SUPPLEMENT. Ul6 [VoL. XLVIIL 8u.beerlben will confer a ,rreai favor by giving lmmedlaie nottce of any error d.19covered In tlleee Taa.Iee. Bo'ltd#-Prino► INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or Amount Rate. per When Where P~ble, and by 1>al, When Due. .,_ explanation of column headings, &c., see notes of of Par Outstanding Btocb-Laat on first page of t&.bles. Canal. Bonde Value. Cent. Payable om. Dividend. L#l"Mfh, Ooal cf Namga~{OontinuedJ- llort.loall,p;.($2,810,000 assumed by other cos.Jo'" Oon&0L mort ..........•.•••.•......••..••.....•..... Greeuw'd 2d on 1,264 acres coal land (ext'd,'77 ).r General mortgage._ ....... _••.•...•.••...•......... . .orr-ia--Btook,consol.,4p.r.gu.999yrs.byLehighV. Preferred stook, 10 p. o. gu. 999 yrs. by Lehigh V. Mortgage (for $1,000,000) ....•..............•.... 0 Preferred stool.. scrip dividend ...........•.••..... .,._nayl1'ania-8took ........................... ...... Gen. mo~., a. f., interest guar'd by Penn. "liR .. c• ..,.,11,Jllkill a-Pigation- lst mortgage, extended .•.. 2d mortgage ........................................ lrtort~e bonds, coup. (payable by P. & R.) ..•... :Boat and oar loan, (payble by P. & R.) .........•.. Boat and car loan ( do do ) ............ ~nna-Maryland loan, 2d mortgage ........ Buequeba.nna Canal, common bonds, 3d mort ..... do pref. bonds, 1st mort ........ do bref., 1st T. W. priority b'ds. ao onds of 1872, 4th mort .•••.. MISCELLANEOUS. - - - -- - ·- - -· .... 1867 $500&o. $4',653,000 .... 1871 1,000 2,466,000 643,000 1872 1,000 1,000 2,035 000 1884 100 1,025,000 100 1,175,000 103 .... 1,000,000 103 '76·'85 1,000 ·103,164 1869 various. 50 4,501,200 1,000 2,775,000 316 1870 ..... .... 1,000 9,676 107,3f9 .... ... 1,000 .... 136,000 .... 1863 1:000 132,200 1,000 1864 1,000,000 1839 74,000 1859 1:000 500 2,500 1884 500 38,405 1884 1,000 1872 14,000 ---· io3 .... 316 . l .... .... .... .... .... .... A.um.• Exre_ess-Stock ... : ......•..••..••••••••••..•••••••.• A.men.can elt Telephone-Stock ..•.......•...••.•••.••..••. Debentures ($2,0u0,000) red. at 110 a.ft. a.ug. 1, 1890.c&r Amer. Tel. cf Oable-Stook, guar. 5 by West. Union .•••..•... A.21ie1"'ican Coat (Maryland)-Btook.... . ......... . . . . . • . . . . .... isss . --· . ·-· I I •.• $100 $12,roo,ooo 100 02.100 500,&c. 2,000,000 100 14,000,000 25 1.500,000 6 g, J. &D. Philadelphia,, Office. Doo. 15, 1897 J. &D. ,tune 1, 1911 7 do do F. &A. 7 do do Feb. 1, 1892 do do 419 Q.-F. 1924 2 F. &A. Leh.~· RR. Codlhlla,· Feb. 7, 18e9' F. &A. Feb, 9, 1889 5 A. & O. 7 April 1, 1908 do do F. &A. 7 do do Feb., 1889 J ..&.. J. Phil.a,., 23·3 .T1tly,.ioio 4th St. Q.-M . 6 Philadelphia, Office . March, 1897 J. & J. 6 do do 1882 to 1907 J. & J. 6 do do 1895 M.&N. 6 do May, 1913 do M.&N. May, 1915 7 do do 6 J. & J. Phila. and Baltin1ore. Jan., 1885 J. & J. 6 do do Jan. 1, 1918 6 J. & J. do do Jan., 1894 J. & J. 6 do do Jan., 1894 J. & J. do do Jan., 1902 7 ··s· I 2 3 7 114 3 ·ao: i;-M. N. Y.,Company'sOfflce.\ Doo. 1, .-J. Boston, Compy's Office. Jan. 15, F. & A . do do Au~. 1, N. Y., West. Union Tel. Dec. 1, Sept.10. • & S. N. Y., 1 Broadway. :i_,-M. 1889 1889 1898 1888 188& 1 29,711 shares have been converted into Lehigh Coal & Navigation 1 1884. 1885. 1886. 1887. 1M>Ck, leaving only 2,956 aha.res unconverted. Liabilities$ $ $ !Fl . ... H d (S u· Th D I & H d C lC I Stock ..•..••..•••..•..•...• 23,500,000 23,500,000 24,500,000 24,500,000 DeI aware.- u son.- ee .m.ap). e e• u · ana o. wa@ I Bonds ..••..•..••...•....... 15,378,000 15,378,000 15,378,000 15,378,000 ellartered Aprll 7, 1823, and the canal from Rondout, N. Y., to Hone~-! Miscellaneous accounts... 778,072 812,002 694,392 651,134 4$, Pa., 108 mile~. was completed in 1828. The company owns the fol- Profit and loss ..•..••..••. 2 187 732 1 966 640 1 888 821 3 488 176 lo-winj! railroads, viz: Lackawanna & Susquehannah-Nineveh, N. Y., to . . • .' ' . .' . ,' . • · ' .Tetreuon June., Pa., 22 miles; Valley RR.-Carbondale to Scranton, Pa.. • Total lia~illties ..••.•• .41,~4.'i,tW4 41,656,642 4:t._4.tH,213 44,017,310 17 miles; Gravjty RR. (4ft. Bin. ~auge)-OlYl)hant to HonP.sdale, 56 miles; These nnscellaneous assets include the follow11;1g: Sundry bond@, Behent<:tady & Mechanicville-East Glenville to Coon", N. Y., 10 miles: H7,415; 6,500 shares Alb. & Sus. RR,, $650,000; 16.00 RltarAA Ren. & CherryV.. lley Haron & AL-Cobleskill to C,erry Valley,~- Y., 21 Sar.RR.,$1,600,000;sundrystlp-.,$306,94t (V.46,p.38,132.1'70,609.) miles; Sobenec. & Duanes.-Sohenectadyto Duane burg, l-! miles: total Lehigh Coal&: Navlgaiton.-Owns oaaal from Co~lport to Ea.s• owned, 140 miles; and it leasf's: Albany & Susquellaona-Alnany to ton, Peun, 48 miles, and leasPs Delaware Div. Canal, 60 miles. Also Binghamton, 142 miles (leased for 150 years from Feb. 1870); New owns LPhi,\Cb & Susquehanna RR., Phillipslmrg, N. J., to Union June., York & Canada (leased in perpetuity)-Whitehall, N. Y., to Rouses Pa. 105 mile>1, with branches, 50 mue~.andleases for 999 years Nesqu&Point, N. Y., 113 miles, and branches to Atlhable, efic., 37 miles: Rens• boniug Val. RR., 17 m .. and Trescow RR .. 7 m.; but all these roads are aalear & Saratoga and leased lines (lease,1 durin,g term of charter and leased for 999 years from 1871 to Cen1ral of N. J. RR., rental neing 331:t 1ts 1enewal~)-Albany, N. Y., to Lake Uhampfai.n, N. Y., and brancues. per cent of gross earnings, with a minimum rental o t $1.414.400. 195 miles; Utica Clinton & .8ing.l:lamt.on a!ld Rome & Clinton (leas, d 'l'he UentraJ RR. of N. J. ilssumed (in purchase ot equipment) $2,310,000 duri11g term uf charter and renewals, and sul.)let to N. Y. Ont. & West• of the gold loan due 1897. The Lehigh ,ti WUkesbarre Coal Co, assumes ern till Jnne, 1921), 44 miles; Umon R&.-G t,en Ridge to W1lkesbarre. $500.000 of the p:old loan duA 1897 11,nd $771,000 (all) of the convertible Pa. (leased durmg ttrm of charter and renewdls), ~o miles; other llnes, !!Old loan due 1894. The modifications of lea;ie UDder the nf'w arrang&4 miles; and Jefft'r.,.on RR. (trackage)-Je:fl:'ersou Junction to Carbou• ruP.n t with Central of New Jersey are rf'ferrad t,1 ln V. 45, p. ll3. dale, 35 milta. Total contro 1Ied, 730 miles, lmG only 682 operated in DividendR since 1880 have been: 1n 1881, 2 p.c.; in 1882, 4; in 1R83, D. & H. s5stem. This company is among the largest miners and 512; in 1884, 6; iu 1885, 512; in 1886, 4½;; in 1887, 4; in 1888, 412, carriers of. anthracite coal. 'l'.ne Board of Man.agers' report for 1887 in V. 46, p. 253, llad the folThe debentures are seccred by an equal amollllt of Pennsylvani lowlne sta~ment ot receipts and disbursements: Division bonds, reserved. Receipts1885. 1886. 1887, The stock was increased to $30,000,000 to pay off the bonds due b rrom railroads and Nesque. Tunnel. $1.459,035 $1,464,381 $1,533,184 1884 and 1891. The remaining $5,500,000 in treasury will be issued iI. Lehiirh Canal, incl. water powers..... 65,971 50,220 33,562 1891,to take upanequalamountof7peroentbonds. Delaware Division Canal.............. 11,038 def. 1,1-195 16,686 The annual nport for 1887 in V. 46, p. 132 and 170, had the following : s~t profit on Lehigh Coal............. 396, 1.08 135,104 148,452 The managers•· propose to ap_µropriate, from time to time, frc,m the sur Royalty on coal mined by lessees, :Plus or dhidend fund, amounts not to exceed in the aggregate twentyrevenue from rents, &o., &o. ••• ..•. 52,524 80,797 71,302 :five (25) per cent of the five millions five hundred thousand ($5.500,0UO) ---dollars of bonds to be retired durmg the year 18;.il, a 1d to credit such Total receipts .••••••••••.••••.•••. $1,981,676 $1,728,507 $1,803,186 a pproprist1ons as cash payments on the stock to be issued therefore to T Ot~• disb t8 $1 119 0••7 $1108 4"'6 $1131 510 0 1tockholders ot record at the time when notice is given or their riizht to ursemen •••• •••••••••••• • • ' • :.. • • , , 1ub.soribe," '!'his propfrBition was submitted to stockholders at the an- -Balance of earnings................... $865,649 $620,021 $671,676 nual meeting in !fay, and approved by them. Less sink. fd. of 10 p. o. p. ton on coal $93,558 $89,419 $61,597 Dividends have been paid as follows from 1891, when they were Lessdeprec'nonooal,impr'v'm'ts,&c. 86.869 98,009 resumed: In18lH,419; inh82,7;inl8~3,7; in 1884,7; inl8"'5,6; - - - - -- - - - - - - - - in 18d6 and 1887, 5; in 1888, 6. Range of ~toek prices since 1882 has Total.............................. $180,427 $89,419 $159,606 been: In 1883, 102¼!1Hl218; in 1884, 67-WlH: in lts85, 60¼!'/blOOig: Surplus for year ....................... $68:'i,222 $530,602 $512,070 ml886,!,7¼ ·m 108¼;in1887,96¼1/!106½l; inl8e8,Hi3m134: in1889 Balancetocreditofdiv'dfd.Jan.1.. 679.936 683.843 6U,037 Jan. 18 inclusive, 130-'2'lD135. T 0 tal "" 5 1 58 $ 1 1 4 45 $1 56 107 Oowparative statistics for four years: ·••• ·•••••••·•••·•••·•••·••••· ..;.1.,;jo • ,:t -i, ,l • Dividends.............................. 681,315 5i0,408 509,362 l'ROFIT AND LOSS. Rate of dividend...................... 6 419 4 1884. 1885. 1886. 1887. Balancetocreditof div'dfundDec.31 $683,843 $644,037 ,:t;(:>4ts,7'6 ~,.._ $ $ $ $ -1V.43,p.634;V.44:,p.2T4;V.45,p.113;V.46,p,25:J.) Bales of 8,213,157 7,201,049 7,399,095 10,100,118 Itiorr18.-Leased April, 1871, to Lehigh Valley Railroad. for 999 Oanal tolls................. 47,240 54,551 58,410 66,505 years. The lessees assume bonds and scrip, and pay 10 per oent -per Hi8oollaneou.s profits. .. ... 486,929 t 792 716 , , annum on "()ref. st.ock and 4 per cent on consol. stock. ln lR89 the Le633 867 395 001 Interest on investments... 284,464 .S ' high Valley decided to cease operating the canal, wbioh will probably Ooal on hand (Deo. 31) ..•• 892,804 649,905 332,653 183,mn be used fol" water SUPi>lY to city of Newark. (See V". 48, p. 100.) 694 ·!l4 1 BallroadearningsinPenn. RHO.l'i4 2 8-il,662 1 , 147, 134 Pennaylvanta •. -Worked in interest of Pennsylvania RR., which Total .•••.••..••••••••. 10,755,lJti 9,iilM,..Lo:.5 9,265,687 ll,8::1:.:,457 guarantees interest on bonds and owns $3,517,150 stock. Earnings in .D£1our6 ement8$ $ $ $ 188t!, $281,385; net, $79,537; interest, $170,610; loss, $91,103. Ill 18 Jan. Trans.to tidew;terviaErle '557:500 592,803 873,517 1,159,114 11hla & Reading-for 999 years. All the bonds save thoso in the table were Transportation expenses, exchanged under the Phil, & Readin~ reorganization plan, for bonds eanal lease &c 1,455,805 826,987 767,151 88:';,810 of the P. & R. The report for 1886 (V. 44, p. ~no, gave a statement of nterest ' ·•· · ··· ·•• 1,198,885 l,Or;2,768 1,069,067 973,571 the company's relation<1 to the P. & R. company and a history of its I · · · · · · · · · · · · · · · ·· · · · prosper,ity in former years. The loss to the R ad.tog in 1886•87 was 402 5 300 453 Termin'lexpense &misceL • •ti tl $289,493[ in 1885·86 was $477,614; lo>1s in 1884.•~5, $444,292. (V. 1 114,490 21,695 I~:~~~ 44, p. 752,182, 009; 45, p. 14a, 573; 46, p. 210.> Balance .................... 1,488,094 1,186,396 1,175,485 2,910,305 Susquehanna.-Leased and operated by Philadelphl.1 & ReadJng Railroad. for interest on bonds and half of net earnings. All the bond& Total..•............... 10,755,136 9,393,162 9,265,687 11,892,457 save those in the table, were exchangPd, under the Reading plan, for GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR, P. & R. bonds. Loss to Reading in 1886·87, $135,159; in l~l:!5-86, $239,784; loss 1n 1884•5, $230,657. 1884. 1885. 1886. 1887, MISCELLA~EOUS . .u,et,$ $ $ $ A.dams Express.-No reports. Oana.l.. .. . . .. . . . . . . . . . . . . .. 6,339,210 6,339,210 6,339,210 6,339,210 American Hell Telephone Co.-See report for the year endin« Ballroad and equipment.. 6,468,684 7,134,018 7,257,329 7,276,629 Dec. 31, 18137. in CHRONICLE, V. 46. p. 412. In 1886 paid 16 per cenl Beal estate................ 9,325,365 9,628,325 9,725,394 lf,,7&7,::l87 dividends, including an extra dividend or 4 per cent. The debenture, Mlneimprov'ts, fixt'es. &c. 2,792,417 2,795,576 2,792,511 2,815,844 were issued in 1888 to provide funds for the construction of the long. Coal•ya.rd, barges, &c..... 790,779 934,856 1,007,821 893,723 distance telephone >1y1item. In 181:!7, groes earnings were $3,453,028l Lack. & Susquehanna RR. 1,022,938 1,022,938 1,022,938 1,022,938 neG, $2,2 0,592; dividend.a paid (16 per cent), $1,568,336. In 188~ New York & Canada RR .. 3,597,074 3,597,074 3,597,074 3,878.724 paid dividends of 11:! p. ct. (V.4.4, p. 433; V. 4o, p. 412; v. 47, p. 593.) Cherry Val. & Sharon RR. 300,000 300,000 300,000 300,00o A.m.erlcan Coal.-There are mortgage bonds for $200,000. Th& Meehan. & Ft. Edward RR 51,928 59,131 59,972 59,972 Boben. & Meehan. RR..... 211,527 211,765 212,1:193 212,9~•3 a.nnual report for lli87 iR V. 46, p. 253, gave the following information: Ooal on hand Deo. 31. .••. , 892,804 649,905 33:! ,652 183,69 i [ncome, 1887, $652,237; total expenses and interest to March, 1888~ .Advances to leased lines.. 1,502,789 330,737 8t!l,729 4U4,8ti4 $56,,414; balance, $84,423.-(V. 44, p. 2'74; V. 46,p. 253.) A.dvancesoncoalroyalties 698,1~5 720,055 756,040 766,149 American Cotton Oil Truat.-This is a "Tr11St" formed to conMiscellaneous assets...... 3,372,061 2,740,040 2,586,396 *2,60-.&.,359 trol a large proportion of 1he cotton seed oil mills of the United State1. Telegraph and Car Co.... 43,035 43,035 14,735 14,735 The Board or Management consists of nine trustees, or whom three are ~upylies.tools,&c.,onhand 1,611,254 1,185,028 1,135,412 1,200,174 elected ea.ch year. The title deeds or the several properties owned a.re 0Mb and bills reoe!.Ya.ble.. 2,823,813 3,96-!,939 4,459,007 5,255,912 deposited wit,h the trustee~, who issue their trust etrti.tlcates of $100 ea.ch, and these are dealt m at the Exchanges. For the year ending Total aaitets •••• •••••••• il,843,804 41,656,642 42,461,213 44,017,310 May 31, 1888, the net earnings were $2,020,445 over and above $350,- I w coal............... =:=d 1·· ··· ·· 4l!~·t~g 3,~~;:~g* 4,~t~:~g~ 5,g~i:f~i l'!!:~iiieiiseiii-aiiroa«iii::: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~fl:~~g ~fU~g i~~:!~g ---- ::h~;:1~0~~~~::'tt~!~:;!!~::,e!\!;.:8ti~~o~~• ::!:! v. v. CANAL STOCKS ANlJ BONDS. JANUARY, 1889.J MAP OF THE DELAWARE & HUDSON CANAL COMPANY'S RAILROAD & CANAL SYSTEM. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 131 138 INVESTORS' SUPPLEMENT. Snb•crlber• will confer a great f'avor by giving lllllDedlate notice of' any error dl•covered tn the•e Table-. ~ T OR DIVIDENDS. Bond.- -Prtiiol DESCRIPTION. Date Size, or -Amount pal,When Due Par For explanation of column headings, &c., see notes on of Rate per When Where Pa.yable, and by StockB-Laet . Outstanding Bonds Value. first page of tables. Cent. Payable ,Whom. Dividend. A ~ n Ootton. Oit Trust-Certificates ...•.. .. ..•..••..••• American E~ess--Stock .•••••••.••..•.•.• . . ..••••••.••••••. <Jahaba Ooa Mining-Stock ................ ................ ----$42, 185,228 .... $100 100 18,000,000 .... 1st mortga.~e .............................................. isifo Oameron Iron d: Ooal Oo .................................... Canton Oompany--Stock(44,300shares) .................... Otntral ti South American Telegraph-Stock ............... -Ohicago Gas Trust-Stock ............................ . ..... .... .. -· .... Chic. Gas Ll~ht & Fuel, 1st mort., g ., guar . ••..•....•.... is&7 Pe7:le'e Gas Light & Coke, 1st mort., g,, guar . ...••. . .. 1874 2 mortga2e, ~ar . ... . .................. . ............. 1874 E quitable Gas Light & Fuel, 1st mort., ~ar . .... ..•... ~. 1885 Consumer11' Gas, 1st mort., guar . ............. . ..... .. ... ··-· Colorado Ooal cf Iron-Stock . .............................. . 1st consol. mort.. gold. accum., sink. fd. not drawn .. c" • isso <Jolumbusd: Hocking Ooal cf Iron Oo.-Stock ............... lstM.. g.,s.f'd(on 13,351 acresl'd, mines&b'd'gs) .... c" i887 Commercial Oable- S tock . ........... . ....... . .............. .... Consolidation Goal of Marytandr-Stock .••...•..••. . ••..••. 1st mortgag-e, consolidated, convertible........ . ........ is7·2 Oonsotidated Gas (N.Y.J-Stock ............................ .... Bonda, Metropolitan Gasli~htCo . ....••....•.............. .... Bonds, Knickerbocker Gas ·ght Co ........................ Debentures for $3,000,000 ........................ . ...... r isss .Detroit Mack. ti Marquette Land Oo.-Bonds (income) . .... 1881 E'CCertificates o~~!~-~~-1:!'or_~~i~-~~--~!.' !.~V:..y~:~~~~~~-~:::::::::::::: indebtedness, red. in 1891. .•.• . .•.. .. .... Gol,d, cf Stock Tel. -Stock, rental guar. 6% 99 yrs.W. Un. Tel. Bonds, not mortgage ......................... . ........... c .... isss ---- Hudson Ri'D. Susp. Bridge & N. E. RR.-lst mort-. g .... c&r isss Internat'l Ocean Telegraph--Stock, 6 % 99 yre., W. Union .. .... Iron Steamboat Oompany--Stock ........................ .. .. ---- 1,400,000 100 1,000 750,000 100 3,000,000 1614 719,875 100 4,006,600 100 25,000,000 1,000 7,610,000 500 2,100,000 500 2,500,000 .... . 2,000.000 3,832,000 ·ioo 10,000,000 1,000 3,499,000 100 4,700,000 1,000 1,000,000 10,000,000 'ioo 10,250,000 1 ,000 1,100,000 100 35,4::10.060 658,000 . 631,000 650,000 1:000 1,000 4,550,000 100 3,000,000 l,OOu 1,000,000 750,000 'ioo 5,000,000 500 500,000 ·-· ··-· . ... . --· (l ) \ I 3,000,000 2,000,000 1 3 N. Y., 45 Bi:oa.dwa1v. Ag. 1. 1887 J ••&.J. N.Y., Co.'s Office, 65 B'y Jan. 2,188 9 ·,f" J. .&. J. .... . ... "ii\i Q:.::.i'. N. Y., Farmers' L. & Tr. Jan:·i:1007 . ....... ·-· New York Office. ··-····· I . .... -.... .&. J. J. N.Y.,Central Tr. Co. 6 g. ~.&N. N. Y., C:ent.Tr.& Lond'n. 6 g. J. &D. do do g. J. & J. N.Y., Oen.Tr.& Chic. Of. , ·5-g. g .6.g. .6.g. 'ii.i .... Jui.;·r,··i93 Nov. 1, 190 D ec. 1, 190 July 1, 1905 ·-- ..... F. .&.A. N. Y., Chase Nat. Bank. Feb:·i",""i900 J. .& .J. -... J ..&.J. 2 J. & D. 6 F. & A. J. &D. 6 5 M.&N. 7 A & O. 2 Q.-J. F. & A. 6 J. &D. 6 Q.-J. 1¼ 6 M.& N. 5 g. F. & A. l¼ Q.-J. 21.g .... 6 . ... - ... --.. Jan-:5,..i889 N. Y., Central Trust Co . Jan:··ci91 7 Jan:·si',--iss 9 Jan. 1, 1897 Dec. 15, 188 8 Aug. 1, 1901 June 1, 1898 May 1, 1908 Oct. 1, 191 1 N. Y. Office, 340 3d AV. Jan. 15, 1889 N. Y., Central Truat Co. Aug. 1, 189 9 N. Y., Offlrie 340 li d Ave. 1896 N. Y., West. Union Tel. Jan., 1889 May 1, 1895 do do New York & London. 1938 N. Y., West. Union Tel. Jan., 1889 . ............. Nov. 1,188 N.Y.,Co.'s Office, 71 B'y do do N. Y., Office,4 Irving Pl. do do do do do do not above 105. . The company owns large coal and iron properties, with extensive works thereon, in Ohio, and a full description of th8~e was published in the CHRONICLE of Feb. 26, 1887, v. 44, p. 278. The total .vroperty and assets on Jan. 1, '88, as per balance sheet, were $5,973, '. !43. In fiscal year ending M11orch 31, 18E~, gross earnings were $1,::146.333; net, $191,912; surplua over interest and improvements, $110,196. Annual report was In V. 46, p. 737. Mr. J. O. Moss, President, 45 Broadway, New York. (V. 46, p. 1 i2, 573, '737,) Commercial Cable co.-TWs is popularly known as the Maokav Bennett Cable Company In September, 1887, the stock was raised th $6 ooo 000 and in October 1888 to $10 000 000 ' ' ' ' ' ' ' · Consolidated GWI of' New York.-This company was organized Nov. 11, ~884, under chapter 367, laws of New York, 1884. Tile oompanies merged in !t were t~e New York Gaslight, the Municipal Gasllght,the Me_tropolitan Gaslight, the Manhattan Gaslight, the Knickerbooker Gaslight and the Harlem Gaslight. The total stock was $39,w 078 000 of which $3 647 940 was reserved for working capital and f '· d 'bt dn f ld ' ni v 6 418 , 537,) or ID e e ess O O oompa es. < • 4 : p. Consollda~lon Coal.-Annu~ report .. or-1887 was in V, 46, p. 253. The gross receipts from mines, ra.ilroads, rents, 1886. 1887. &c. (incl'~ yalLte of st:ck of ooalon hand), were.$2,039,427 $2,373,083 Tot.expensofeve:rykind(excl.ofint. &sink.td., but incl. steel rails & a.llextra.ordin'ry outlays) 1 78~ 44~ 1949 253 . · • · ' • Net receipts ................................... $~ou,vov $4~;:s,i;:.,:, The int. and sink. fd. in 1887 took fl 62,138; balance, surplus, $261,690. B. &_O. RH. owns $3,810,000 stock. · This comp!),nY guara1:1tee_s also 2d mortg. bonds of the Cumberl$nd &: Pe~sylva~a. RR .• which 1t owns, and assumes $135,000 of the Union Mlillllg Co. s bonds. Total bonded debt on lanas and railroads is $2,326,500. (V. 44, p. 210; V, 46, p. 253.l Detroit lliackinac & Marquette Land Grant Bonds.-Owns allout 1,300,vOO acres of land in Northern Michigan, alon~ the line of the D . M. & M. RR., w)?,ich road_ was sold in fo 1eclosure Oc~. 20, 1~86. The land grant bonds retamed their lten upon the lands covered by their mortgage. The bo ndholders received a bonus of 35 per cent in oommou stock of the Duluth South Shore & Atlantic RR. Co. in '\larch, 188~. Lands are free from taxation till 1895. Jas. McMillan, Detroit, President.-(V. 46, p. 320, 573.) Equitable Gas Lio-ht Co.-Incorporated March 9 1882. Owns three blo c·ks b etween 39th and 42d Stij,, Fir::1t Ave. and East River; also 32 lots betwee~_!:>8th and 59th ~ts . and lOt~ an~ 11th Aves Total assets, Jan. l, 1888, ~::>,536,714; roams at>out 9o miles; gas works valued ali $2,076,447; real estate at $1,159,26~. It was v~ted i~ December, 1887, to issue $1,000,000 ne -n stock, but this amouut 1s not mcluded above. Hudson Suspension Bridge & New England KR -Chartered to bridge the H 11d,..on Ri ~·er at Antnon v ·s Noje, n ~ar Pt>eirsldll, and to build a line of railroad over the bridge from Turner's N. Y. to Conn. State line at ~ortk Salem. The Co. has traffic contracts 'with several roads, and an ~xclt1sive one with tt e N . 'f. & New England. rt i s expected tbat the briage will b d o pen hy Julv 1, 1.890. The 1uortgage (Trustee, Atlantic Tr. Co.) will cover the bridge, 34 miles ot railroad, and a tunnel or 5,304 feet a,t Bull Hill. Stock. $10,oOO,UOO. President, Edward W. Serrell, 38 Wall St., N. Y. (3ee CHRONICLE, p. 744.) International Ocean Teleo-raph co.-The Western Union co. operates the line oy contraot for g°{l y ears from J an . 1, 1882, paying 6 per cent per year on stock, of which it owns ;rl,943,800. Gold & Stock Telegraph co.-Operated by west. u. T. co. by oontract for 99 years from Jan. 1 '82 at 6 p c per a.nnum on stock and bonds ' ' · · • Iron Steam.boat Co.-Prop~rty consists of seven iron steamboats. Stock, $2,000,000. In year_en 111g Sept. 30, 18~8, gross r~celpr.s were $308,4_29_; net, $1,402, agamst $3 v,Ol 7 m 188ti-87. (V. 4a, p. 642; V. 47, p. o5:>.) · E.A.R~INGS .A.ND EXPENSES. Lehigh & Wilkesbarre Coal.-This company is oontrolled by the , - - - 1 8 8 6 . - - - ,--1887. - - Central RR. of New Jerseythroul(b ownership of a majority of the stock, Grose. Net. Gross. Net. $6,116,000 of the consol. mortgage bonds and i2,353,000 of the Coal & coke department. $1,197,270 $285,400 $1,391,057 $323,531 also income bonds. The L. & W. Coal Co. also assumes and counts as part of Iron and a~l dep't ..... 690,086 35,749 1 ,392,149 209,410 Iron mines dep't......... ........ loss 976 ........ loss 236 its funded debt $685,500 bonds due 18!-H, and $500,000 bonds due 1897. of the Lehi ah Coal & Na.v. Co. A sinking fund for the r~d~mption at Beal estate dep't. ...... •• 24,953 8,308 29,143 9,350 Miscellaneous earn'gs.... 5,140 5,140 6,527 6,!'>26 maturity o1 the bonds due 1912 is provided from sales of ~urfao ,- lands and from payment of 10 cents for ei:Lob ton of coal mined on propert y Tota.I . ................. $1,917,449 $333,611 $2,818.876 $548,581 included in the first lien. From Jan. l to Sept. 30, 1888 (9 fill•nths), gross earnings were $7,527,017, against $6/!-77,4\J7 in 1887; net, INCOME ACCOUNT, 1886. 1887. Net ea.rnin~s...................................... $333,611 $548,581 $1,470,107, against $882,773; surplus over interest (inclndin§r incomes), $741,600, against $183.445, The annual report for 1887 was in V. 46, p, Add inoome from nvestments, &c ......... -···· 8,650 4,433 227, and showed total receipts, $9,370,271; net over operating expenses, $342,261 $553.014 $1,556,586.-(V. 46, p. 22'7, 537; V. 47, p. 21,108, 2l..7, 3~3, 472, 499.) Tota.I. ......... . ....................... -·---··· 209,940 210,720 Mariposa Land & llllnlncr.-There are outstanding only 15,000 Lees Interest on bonds .... .............. . ---shares, the balance bein~ owned by company. Litigation ha.a been in Surplus...................... • • ............... $132,321 $342,294 progress many yea.rs a.no nothing done on the estate. In the real estate department the earnings a.re wholly from rentals of Maryland Coal Co.-In 1887 the mtnes of this Company produoed housea, lauds. &c.. containing no receipts from land sales. (V. «, p. 316,518 tons of coal, an increase of 27,776 over li,86. 400; V. 46, P• 386. lffaxwell Land Grant Co.-rsee M11.p ).-Owns 1,700,000 acres 1n Oolumbus&HockingCoal&IronOo.-OrganizedatColumbus, Colorado and New Mexico containing coal, timber and land flt for 9z.Ja11. 26, 1883. Tue Central Tr. 'Jo. of N. Y. is trustee of the mortgage. grazing and agricultural purposes. The estate is traversed by the A,U61' May 1, 1888, two cents on Pverv ton of coal from the mortgaged Atchison Topeka & Santa. Fe RlloilroaJ. from north to south, and the premises goes to a sinking fund; bonds tendered may be purchased at Denver & Fort Worth Railroad. The prior lien bonds a.re authorized 931 spent for betterments, repairs, &c. ~o b alance sheet is published. Dividends of 1 per cent quarterly for the year 1887-88 were declared, but in Oct., 1887, the company announced that dividends ;would be suspended. N. Y. Office, 4.5 Broadway, N. Y.-(V. 45, p. 25, ,538, 564, 696; V. 46, p. 829; V. 47, p. 139.) A.m.erlf'.an Telegraph & Cable Co.-Owns two cables between Bennon Cove, En~land, and Dover Bay, Nova Scotia. The stock of ;$20,000,000 was 70 per cent paid up, and in April, 1882, a pooling arrangement was made wiph the other cable compan_ies for 38 years, by which this company receives 2 2 ¼ per cent of C(?mbmed rev~nues wpne both its cables are working and 12¼ per cent if ~nly one i~ working, •hlch percentages hold ~ood for one year after any breaking of the oablea; if not repaired within that time the percentages are reduced aooording to the time that the cables remain broken. Then this compa.ny'soa.bles w..=ire leased to Western Union for 50 years, with a guaranty of 6 per cent per annum on the stock issued-$14,000,000. • . Cah aba Ooal Mining.-O wns 2 '?, 605 acres of coal a.D:d 1ro~ lan~s in .liU,b. Shelby and Jefferson counties, Alabama, with six mmes m operation; also 16 miles of standard gauge railroad, fully equipped, connecting its mines and minin~ town Blocton with the Al. Gt. So. and Loni@. u! Nash. RR. The application to the Stock Exchange for the listing <>f the above eecurities was given in full in CHRONICLE, v. 47,p. 4U. c I &" IC Th" - d" ameron ron '-'oa 0 , - 18 <;ompanywas orgamze m 1886· The lands and prope1ty a.re near Emporium, Pa., and formerly belonged to the Cameron Coal Co. Nicholas C. Miller, President, N. Y. (lanton (Im.provem·e nt) Company (BaU.)-Tbe capital stock, b_y changes made subsequent to the original issue, became practically only $16 25 par per share, and was reduced by purchase and cancellation to -14,300 •hares. The Union RR. sinlnng fund of $918,703 remains the prop~rty of Carito~ Co., and is held by the trusteei:. till bonds have teen paid off at matunty. Report for 1887 in v. 47, p. 20. (V. 47, l ', 20.) <lentral & South 'Am. Telecrraph.-Linefrom Vera Cruz Mexico to Chorrillos, Peru, with hrancheS: 3,100 mlles of cable and 335 mlles oi. land lines. Completed November, 1882. Connects at Lima. with West Coast Tel. Co. of America, having 1.700 miles of cable to Valparaiso and a.t Vera Cruz with Mexican Tele~aph Co. Stock is $5 000 000· no bonds. Concernin~ proposed new cable from Galvet!ton to Coat;acoales, see under Mex. Tel. Co. The cost to this Co .. about $ 60,000, will he paid out of eurp. earning-Ii, In l fl 87 gross earnings <partly estimated) were $534,943; net.$401,264; surp. overdiv' s (6 p. c.), $13 0,819. James A. Scrymser, Pres't, N. Y. (V. 44, p. 27 4; V. 46, p. 804; V. 47, p. 801.) Chicago Gas 'J'1•ust.-Thls Co. was incorporate tin '87to acquire cont rol or gas propert1es in Chicago. It owns $14,409,72!J of tlle $14,.984,200 stock, f the companies whose bonds, g u arant eed principa l and int~res1; b;v tbe T~11t, :i,re ~iv en jn the table ahov e,_ and this s~ock is depoHted with the I< 1dehty Tr. ~ Saf~ Dep. Co. _of ~hila. as s ecunty for the bondp, Through its .nterest m said compames 1t also controls all but i15,8( 0 of tht- $1,71\0,000 stock of four smaller comoanies which have outstand1n~ the 1ollowing bonds: Lake Gas Co., $300,000 l i;;t mort. 6s; Hyde Park Gas Co., $ "00,000 1st mort. 6s; and Ill. Light Heat and Power Co., 1¥500.(!00 1st mm_-r: 7s, these last guarante!d by ~he People's Co., and FO a contmgent liab1hty ?f the Trust. In 188, the eight companies sold 2,660.206 thous~d oub10 !eetof gas; their gross receipts were $3,228.480. and net rece1_p ts. $1, :-,84,161; fixed c~arges, $1,035,100. See_appl_ication in f ull to 'N. Y. Stock Exchange I.or l1strng the above sec uritiee m CHRONICLE, V. 47, P, 7~6. _ Oolora~o Coal & Iron.-This_ con:ipany, with headquarters !l't Colorado Sprmgs, Col., was a consolidl'l.t1on Dec. 13, 1879, of the, Central Colorado Im. Co., the Co]. Coal & Steel Works and the i;out,ne111 Colorado Coal & Town Co. Stock is non-assessable. In Nov. 1887 a decision in regard to.certain land titles was mat1e in favor of this co.' An abstract of the report of 1887 was in V. 46, p. 386. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M A 0 00 A z· 0 cq A z~ 00. ~ 0 0 8 00. ..lr--<-----J rn p i 0 ~ I ~0 I' i ~ rn ~ ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis K I e Mato NOIA ·S N 1" !-------·~------ .Hart1ey A R T L E MAP OF THE MAXWELL LAND GRANT COMPANY ESTATE !N NEW MEXICO & COLORADO Shaded Section indicates .Maa;well Land Grant Area 1.,714,765 .Acres. INVESTORS' SUPPLEMENT. 140 - I Vot. XLVIIL Subscribers will conCer a great f'avor by giving Immediate notice of' any error disco vered In these Tables. DESCRIPTION. ..,or explanation of column headings, &o., see notes on first page of tables. Bonds-.J:>rin<:(. INTEREST OR DIVIDENDS. Date Size, or Amount Rate pe1 When Where P-wiiable, and by pal,When Due. of Par Outstanding Stocks-Last Cent. Payable om. Bonds Value. Dividend. lron Steamboat Oo.-(Oontinued)-Bonds ••••.••..•••••.. c 1881 Lehigh d Wilkesbarre Ooat-Btook • _•.••••.•••..••••.••••. . Bterllng loan,'Binking fund, drawn at 100 .••...•..••.... c Mortga,te loans. . • . . .•.. _. . . • • • • • . . . • . . • • . • • • . . • • . . . ... c Oonsol. mort. ($6,116,000 of this held by Cent. of N. J.)c Sundry mortgages ...•.......•.......•...•.....••..••..••. c New mort., cumulative sinking fund (not drawn) ...•.. c Jlarivosa Land ~Mining-Stock .••••••. •••••••..•••.••... . Preferred stock. • • . . • • . . • • . • • • • • • • . . • • . . ••..••...••.••..•.. is74 i875 isss Jr:;~~!~-to""c1r:::::: :: :: ::::::::::: :::: :::: ::::: :: ::: .... i875 ··-· isss M=::1z~~'J::_a~~flen"iiils:ir:;rei"i:iii.ioo{ori10·aiinai~>c Metropolitan Tel. ~Teleg. Oo.-lst M.,g.,s.f. (notdr'n) .. c&r 1888 M=:S:,!~~~:'1b~=k: ::: ::: :::: :::::: ::: :::::::: :::: :: .... .... Ne:w Oentral Ooal-Stock.•....•..•...••...............•..... ---· -----· .... ---· ------ N. Y. Mut·u al Tel.-Btock, lmfil'. 6 p. c., 99 yrs., by West. Un. 1st mort., golJ, guar. by W. Un., $50,00o cum. sink.fd .. c issi Neu, York~ Perry Ooal ~ lron Oo.-Stock ..•....... . •..••. . Neu, Y<»"k ~ Texas Land r Limited)-Btock .••.....•...•..••. Land scrip receivable 75 per cent for lands ....•... . ..... .... l(orthwestern Tel.-Stock, 4 rising to 6p. c., guar. West. Un. Bonds, interest guaranteed . .....••..••..••.... . .•. . ....• . .... Oregon l~ot,ement Oo.-Btock . .........• . . . •....•....... . Prefer stock, 7 per cent, non-cumulative . .....•. ... ... r lst M ., g .• s.fd. l p.c.y'rly, red.at 100,if notpurch.at 106 1880 l!GMftc Mail Steamsnip,-Btock .. ..•...••...••..••..••..••.. . . PennB1Jtvania Ooal-Stock . ....... . ... . ................•...• . Philadelphia Oompany-(Na.tural Gas) Stock . ............. 1st M. for $2,500,000, E.fd. $:.:!50,000 y'rly, not dr'n ... c* isss Poatal Telegraph Oable Oo.-Btock . ...... . .. . ..........•.... . ....... Prmghkeepsie Bridge.-lst mort.• gold, for $5.000,000 .. . o• 1886 ----$500 - - -----$500,000 J. 6 ~ . -. .£200 1:000 1:000 100 100 1,000 100 1,000 500 ·ioo ioo 25 1,000 100 50 ··50 "ioo 100 1,000 100 50 50 1,000 1~000 8,700,000 1,504,000 259,999 11,500,000 331.711 2,1100.000 10,000,000 5,000,000 250.000 4,400,000 U6,000 2,500,0, ,0 2,000,000 1,4.34,400 14,000,000 5,000,000 I'l l ··.r6 7 6 5 .. -· .... M:&·N. Q.::.M. M:&·N. --- . June-·i;·faoo Nov.·1;·1912 ..... --· .. .... ·--- 0 . --· r3 -sew Yoi-ir ·omce . J. .&.J. N. Y., West. Un. Tel. Co. 6 g. M.&N. New York, 1st Nat. Bk. 1 .... · N. Y., 52 Broadway. N.Y.,J.S.Wttmore2W:all 6 J. .&.J. N. Y. Wes~. Un. Tel. Co. 7 g. J. & J. do do N. Y., Mills Building. 1¼ M.·&· 8. do do 3¼ 6 g. J. & D. do do 1 .... . . •. . . . . . . Q.-F. 4 N. Y., 1 Broadway. M'thl v Pittsburg, 920PennAv. 1 6 J. &D. N. Y. Uity, Mere. Tr. Cc. .6.g. Apr:·io:·i8sa Jan., 1889 May 1, 1911 Feb. 10,1888 Aug. 8, 1888 ---· ··2¼ F. .&.A. N. Y. City: ·.Mero: Tr. I 1885-86. The inc. mort. bonds are depositect as collateral i Tral!s-Paolflc. Line ..••..•••..•••... $1,534,272 for $3.000,000, payable at 1 10 at maturity. or redeem_able at par from proceeds or land sales. secnrhy for the 1st mort. bonds. The manaszement of the property, un- July 1, 1901 May· i", •·is99 New York & London. N. Y., 119 Liberty St. do do do do do do J. .&..J. Jan: i",..i886 New York. .iig Jan.1, 1876 M."&.N'. N. Y ..-35° :Broadway. Nov, 7 1, 1906 6 g. J. & J. N.Y. Lond.& Amst'dam. J im. 1, 1913 5 g. M. &N. N. Y. Mercantile Tr. Co. May l, 1918 Q.- J. N. Y.Offlce,l Broadway. Jan. 12,1889 2¼ (1) 3,000,000 1,500,000 1,006,t O, 2,500,000 1,180,000 7,000,000 2,000,000 5,000,000 20,000,000 5,000,000 7,500,000 l,!i00,000 5,000,000 5,000,000 - & J. N. Y., First Nat. Bank. ,usu!'alian Lrne........ . .....•. . ••. Jan:~i-,..i889 Jan. 1, 1904. Feb. 1, 1889 Sept. 1, 1888 Dec. 1, 19LO Sept. 15, 1887 Nov. 1, 1888 Jan. 25, 1889 Dec. 1, 1898 1 Co. ' Aug: i: ·i936 1886-67. 1887-88. $ L.282,317 $ L,334,384 166.414 217,906 2i6:i>92 158,887 T otal . •. . ••• . ..••••••••.••••••. lil4 471:1 939 $8,633,371 $4,078,547 E nses 3 '179 454 3 337 838 3 638 119 xpe ··••·••••·••·••••• ·••• ' ' ' ' • • Net earnings...... .••• ... ..••• $1,300,485 $295,533 $<140,428 No balance sheet to April 30, '83, was ,riven in the snnuaJ report. Geo. J. Gould, President. 1v. 46, p. '706; v. 47, p. 626.) Pennsylvania Coal.-Dividends since 1880 prior to current year have been: In 1881, 15 per cent·, in 1882 to 1888 inclusive, 16. Philadelphia Oompany .-The oompany was incorporated by special act tn: Pennsyl vauia, March 20, 1871, as the Empire Contract Company, and took the present name June 11, 188,1. In 1887 the Chartiers Company was leaaed for 99 years at a rentaJ of 21 ·7 per cent ot Philadelphia company's net earnings monthly. The Philadelphia company controls a large share of the natural gas production a.bout .Pittsburg and vicinity, owning or leasing a large quantity of gas territory &nd 654 miles of ptpe-1. In year endmg M.arch 31, 1888. ~ross earnings were $1,901J.703; net. $1,014,642; snrptus over dividends (12 per cent) $172,016. u-eo. WeatinghoU&e, Jr., President, Pittsburg. (V. 46, p. 76' v. 47, p. 473, 709.) · Postal Telegraph Cable.-This company is successor to the Postal Telegraph Co. and Po~tal Tel. Cable Co. The old bonds took new stock for 35 per cent of their fa.oe, and the 01<1 st'Jck 5 per cent or its amount ln new. F,1reclosure suit begun by Farmers' Loan & Tr11at Co. Nov., 1885, and sale took place Jan. 15, 1886. A. B. Chandler, Pre~ident, New York. (V. 43, p. 125.) Poughkeepsie Bridge Oo.-Owns a railroad bridge across-the Hud,on Rivt,r at Pougllket,psle, completed in Dec., 1888. Cap. stock, $5.000,000; par value. $100. Abstract-of 1st mortgage (Mercantile Trll8t Co. Tru~tee> in Vol. 45, p. 21:;. N. Y. Office, 15 Broad Street. (V. 45, p. 275,401,473; v. 47, p. 81,256,410,555; 4.8, p. 38.) Pullman PalaceOar.-Thestock has been increased from time to time to provide new capital. "8 wanted, since the price, ruling above par. gave a bonus to stockholders when subRcrib~ for new stock. Dividends smce 1876 have been: From 1877 to 188J inclusive, 8 per cent; from 1881 to 1883 inclll8ive, 9¼; from 1884 to date, at the rate of 8 per ci-nt yearly. Fiscal year ends July 31; report for 1887-8 was in V. 47, p. 4 71, and gave an account of the new contracts and general financial operation.a in the year. ffl the date when all prior lien bonds will be paid ufl", is placed i ,, the Subsidies and other sources....... hands of a b uardof trustee1>. President Board of Trustees. R. V. Martin- aen, 46 Broadway, New York. Tbe advertii,.ement m CHRONICLE of March 3, 1888, gave much information concerning the comµany. Metropolitan Telephone & Telegraph Oo.-Tbis company has exclusive telephone rights u ,, der the Hell patents for the ctt.y and eonnty 01 N~w York, its &tock being controlled by the Am. Bell Telephone Co. The mortgage covers real estate and buildiog in process of oonstruotion, which together will be wor th $l,OOO,OOO, a nd also all the franchises, wires, infetruments, et<-., of the company. Afttir 1889 there -will be a s inking fund of one per CPnt to purchase bond11, tr possible st 110, otherwise to be invested 1n other s eourities. Trm1tee of mortgage ts Mercantile Trust Co. W. Union Tel. Co. owns$800.000stock. Mexican Telegraph.-Compa.ny organized in 1878 under laws ot New York State. Has a cable from Galveston to Tampico and Vera Cruz, 733 miles; land line, Vera Cruz to Mexico City, 267 miles, Has exclusive right for 50 years for all foreign telegrams to Mexico, except telegrams to and from a neutral zone on the United States border 156 mlles wide. between the Gulf and Pacific Ocean. Company owns 1,362 shares of the Central & South American Telegraph Co. In company with the Ce::.i.tral & South American Telegraph Co., a direct oabfo : s to be laid from Galveston to Ct•atzacoales, in Mexico. the eost to this company being about $3i 5,000. Stock will be issued to represent earnings used tn meeting this expense. Revenues in 1808 (partly esti• mated), $318,081; expenses, $59,507; dividends, 10 p. c., $14.3,440; 1urp1ue, $115,053. J. A. Bcrymser, Prest•• New York. (V. 46, 1•. E04; 47, p. 801.) 1'Ilnneao ta Iron Co.-Company owns 14,270 acres of land and six tro1.1 mines in St. Louis and Lake countiei;,, Minnesota. Owi,s ah.•o $500, · 000 stock, $4l·0,000 1st mort. bouds and $3,500,000 6 per cent income certiticates of Duluth & Iron Ran~e RR. Co. Mined and shipped 39'1,· 000 tons of iron in 1887. Stock listed April 25, 1888. H. H. Porter, President. Office, Mills Building, New Yol'lr. New Oentral Coal (Md.)-Tae annual report for 1887, in V. 46, p. 174 showed net pronta for year of $3 ➔ ,668; and balance to credit of profit and loss Dec. 31, 1887, of $241,3fi3, against $2fi 2,68-l Dec. 31. 1886; dividend 1 per cent ($50,000), pa.id March, 1887. (V. 46. p . .:. 70.) Ne-w York Mutual · Tele~raph.-The Mutual Union Telegraph Co. organization was changed to me New York Mutual Telegraph Company and the stock was reduced to :1!2,500,000, carrying dividends of 6 per cel!t per annum, under a lease for 99 years to Western Union Telegraph. A sinking fund of $50,000 yearly purchases boncts, if pos• Bible, at 110; otherwii,e is invested. The Western Un:on offered its collateral trust bonds in exchange at par for the above stock and bondl5, and over $5,000,000 had bten exchanged by Nov., 1888. (V. 47, p. 81.) N. Y. & Perry Coal & Iron Co . -Owns 730 acres, controls 800 acres ann leases 430 acres of coal and Iron land in Hocking Valley region at Shawnee, Pt!rry Co., Ohio. Has five coal mines and two blast furnaces. The asf'ets, as per balance sheet on Dec. 1, 1888, we, e $3,511 ,059. For full exhibit see (JBRON(CLE, V. 48, p. 39. In 1887 paid 41ii per cent; in 18813, 1 per cent. (V. 4 8, p. 39.) Office, 52 B'way, N. Y. Ne-w York & Texas Land-This company took the lands granted t,o the Imernat'l and Rous. & Great North'n railroads, about 5.000,000 aores, which were given in settlement to the bolde1s of coLJ.vertible aJ1'1 2d mort. bonds. June 30,'87, had 2,303,971 acres unsold. (V. 44, p. 527.) Northwestern Telegraph.-This company owns 8,000 miles of Wire and is leased to Western Union for 99 years, with guaranteed divi• Aends or 4 per cent at first, rising one-eighth per cent a year to 6 in 1897 and afterward. The bond interest is guaranteed. Oregon Improvement Co.-Thls company owns $3,000,000 stock of the Seattle Coal & Transp. Co.; $575,000 stock of the Columbia & Puizet Sound RR.; $1,9• 0,000 stock of the Pacific Coast 8. 8. Co., and$1,170,000 stock and $ 1,149,000 lFtmort. bds. or Fae. Coast Ry. Co. Tht're was $1,000,000 of pref. , tock so id to a syndicate in Se pt., 1 8 813. Of the l•onds gi~en above a_s ou~standin iz, $378,000 are in the 1e1mking fond. b ut dra w mtere~t. D1v 's smce lb76 have been : 0 11 com.-in L• 83, 7½; in '~8, l½; in •~9 (to date), 1 ½. On vref. (issued in ' 88)-in '88, 3½. From Dec 1, 1887, to Nov. 30, '08 (12 mos.), gr11s~ e a r nings were .t4,~91,· 684, a ~amst $-1,060,971 in l R86-7; n et, $1,066.112, a ga inst $1,135,116. (V. 46, p. 76, 418, 803, 819; V. -!7, p . 227, 34.4, 473.) PacUlc 1'.laU Steamshtp.-The Pacitlc Railroads ~Iv e tothesteam1hip company a gua1 anty or $65,000 minimum ne~ earnings per month OD competitive business. Dividen ds s~nce 1880 r ave been: In 1884, 3ll;i. per cent; in 1885, 5; in 1886, 114; m 1887, 1; in 1888, nil. 1'1·wta or t1to1:k yearly since l r, 80 have been: In 1880, 2712@62; in 1881,39@6214; in 1882. 3:. !\J,@48¾; in 1 883. 28@44!\J,; in 18·4, 31@ 57~: in ll:l8 ,'> , 4619@70; in l ti 86, 4 5 :\a-a>67; in 1887, 32141il58!\i; in 1888, 281s@40½; 1n 1-.;89 to Jan. 18, inclusive, 36@::>714, ~'I.seal year ends Aprll 80; report for 1887•8 was in V. 46, p. 706. v. EARNINGS. 1885-86 Atlantic Line....................... $957,810 Panaina Line. ... • • • . • • • • • . • • • • • • •• 1,603,536 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1886-87. $766,090 1,368,882 INCOME ACCOUNT, Revenue- 1885-86. $ 1886-87. $ 1887-SIJ. $ Earnings (leased lines included)...... 5,075,383 5,621,0lS 6,25.9,371 Patent-royalties, manuf. profits, &o.. 548,129 819,9U, 1,250,383 Total revenue ..••. •••...•...•..••. Di~burse'll,ents- 5,623,512 6,440,932 7,509,764. Operating expenl'es, including legal, general,tax.es and insurance (leased lines included) .......••. . .•..... . .•. 2,057,627 2,224.,807 2,506,584. Paid other sleeping-car associations controlled anct operated .•••.••..••• 802,176 969,896 1,045,398 Rentals of leased lines ...•.••••.••• . •. 66,000 66,000 Coupon interest on bonds .•••.•••..•• 168,050 159,150 ia:z:450 Dividends on capital stock ..•. . •.... l,274,0'l8 1,274,176 1,510,890 Repairs of oars in excess o! mileage. 198,870 210,018 Contingency account ..•...••......••• 100,000 ioo·,ooo Total disbursements.............. 4,467,881 4,904,047 5,494,19 t:, Net result ... . . • . . . • . . . •. . • • . . . . . . • •• . 1,155,631 1,536,1385 2,015,562 -(V. 45, p. 509, 538, 696; V. 47, r. 4'71.J Q,ulcksllver lTJlnlng.-Owns quicksilver mines at New Almaden, Cal. nu, prererreo stock id entitled to 7 per ct. per annum, not cumu• lat ive, and any surplm goes to the common and preferred equally. Bee annual r eport tor l d87-813 in V. 47, p. 4!'>, showing net income applicir ble to dh·i 11 endo for tht1 year of $328,8 5 4, a ~ainst $178,448 in 1886-87; divirtends in ll:l8ti-87, 2ll! percent; in.1887 8, 5~ per cent. (V. 4.5,p. 83; v. 47, p. 49.) St. Louis Bridge & Tunnel RaUroad.-Therailroad and tunnel were sold under the mortga ge of 11373, July 1, 1878. Foreciosure under the first and second mortgages on the bridge was made Dec. 20, 1878. On Juiy 1, t881, the brid~e and Tunnel Railroad were leased to the M.o. Pacilio and Wabash St. Louis & .t 'aci.tlc for the term of thelr corporate charters, on the terms following, viz.: Of the stock $2,490,000 first prefeITed, by the terms of the lease, is ~uaranteed 6 per cent ; $3,000,000 second preferred is guaranteed :; per cent per annum. The railroad stock of $1,250,000 is guaia.nteed 6 per cent a year. The whole annual charge for rentals is $670,000, one-halt payable by M.1ssom'i Pacitic and one-half by Wabash. The common stock was held by the London Reorganization Committee, and under the leaee was transferred to Mercantile Trust Company of N. Y. with power to vote 1887-88 thereon. In ~he year· ending Dec. 31, 1887, gross earnings were $1.714.• $8'-'7,0ll 592: net, $903,9tii; eurpius over mterest, gua.r. d!Vidend.s, ew., $49,336, 1,778,275 -CV. 46, p. 255, 471.) JANUARY, 1889.] 141 MISCELLANEOUS STOCKS AND BONDS. Sub11crlbers will conCer a great tavor by giving lmtnecllate notice of' any error cllscovered In the ■e Table11. DE!iCRIPTCON. INTEREST OR DIVIDENDS. Bonds-•Prlnoi• - - - - - - - - - - - - - - - - - - - - - - - 1 Date Size, or Amount - - - - - - - - - - - - - - - - - 1 p a l . W h e n Dne, For explanation of column headings, &c., see notes on first of Par Outstanding Rate per When Where Payable and by Stocks-Laeti page of tables. Bonds Value. Cent. Payable Whom. Dividend. Pullman Palace Oar-9tock ..................•.•.•••.••..••. Bonds, 4th series ..••..•....•..••...•..•••...••..•••..••.••. {t!!icksiltier Mining-Common stock .....••..•••.•••.•••.••. Preferred 7 per cent stock, not cumulative ....•••..••.••. lit. Louis Bridge ti Tunnel RR.-Bridge stock, common ..••. 1st preferred stock, guar. by Mo. Pac. and Wab ..•...•... 2d preferred stock, guar. . • . . . • . . . • . . . . . • • . • • . . . . • • . .•••.. 181; mortgage new, sinkingfund ..•...•...••.•••.••..••.. 0 Tunnel RR. or1 St. Louis, stock, guar .•••.•••.•..••.••..•. c lkmtMrn ti Atlantic Telegraph-Stock (guar. 5 per cent.) .. Bterling Iron ti Railway.-Stock ..•..•••••••.•••.•••.•••..•• Mortgage bonds, income, series "B" .•••..•• .•••.•••..•.. c Plain income bonds ..•...•...•...•...•..••...•..•••..•.... <' Sterling Mountain Rail way.- lst mort. income guar .•• Butro Tunnel-stock ....•. ..••.•••.•••.•••...•••.•••••••.••. Mortgage income bonds . • • ..•..............•..•••..••..•. ~ffln. Ooall. ti RR. Oo -Stock, ($1,000.000 ls pf. 8 % cum.) Pratt Coal & Iron Co., Ala., 1st mortgage, sink. fund ... . Allee Furnace Co., Ala., 1st bonds ...... .......... . ... . .. . Birm'm, Ala., Div., cons. M., g. s. f. 1 p. c. not drawn .. c"' Tennessee Div. bonds, gold, sink. f11nd 119 p. c. yearly c* .f'e:ras Pae. Land rr,.tst.-·•Oertificates of proprietary int." 11-nion Palace Oa1· Oo.-Stock ............................ . United Lines Telegraph1st mortgage (subject to old lien of $300,000) .••..•••... 2d mortgage (for $3,600,000) ............•......•••.••.... United States Express-Stock .................... _•••.••..••. Wells, Fargo ti Oompany Express-Stock......... ••..••..•. Wutern lTnion Telegraph-Stock ..............•...•.......•. Real estate bds.,g.,(lienonW.U.Bldg.,N.Y.C.)s.f.(not dr., Debentures ......•......••...•...•...•................. c & r Debentures.sinking fund 1 p. ct., drawn at 100 .•...••.. c C<>llateral Trust bonds ........ ·-······ ....••........ . . c"' $100 $19,872.900 Q.-F. 2 1,000 820,000 A. & O. 8 100 5,708,700 .••• 40c. 4,291,300 100 •••• 1111 100 2,500,000 J. ·;,;·J. 100 2,490,000 100 3,000,000 119 J. & J. 1,000 5,000,000 7 g. A. & O. 1,250,000 J. & J. 3 ··25 948,875 219 A. & 0. 50 2,300,000 ··,;· Feb:·1 500 &c. 418,000 1,000 495,575 6 Feb:·1 1,000 475.674 7 10 20.000,000 997,863 .••• .••• 10,000,000 4 on pref. . • •• 1,000 715,000 7 M. & N. 266,000 1.000 7 A. & 0. 1,000 3,403,000 6 g. J. & J. 1,254,000 1,000 6 g. A. & O. 100 10,3 0,000 3,000,000 --a· isso 1876 1881 i887 issa 1882 18~7 1887 ---· ·ioo 1,200,000 m 100 10,000,000 6,250,000 100 100 86,200,000 i872 1,000 1,325,000 1875 4,920,000 1,000 1R7n £100&c . b71.39'3 1,000 7,:'i00,000 1888 8outhe1'n & Allantlc.-Lines leased to Western Union and stock guaranteed l,y the rental, 5 per cent per annum. · sterling Iron & Rallway.-The property of this company, in Orange County N. Y., (and a few aores in Rockland) consists of 25,000 acres of land, with furnaces, &c., having a capacity of 15,000 tons of pig iron per year, and 7.1g miles of railroad, houses, &c. The company endorses the $471,674 bonds of the Sterling Mountain Railway. Interest of 3 per cent was paid on tb.e inoome bonds or the Sterling Mo. Railway and the Sterling Iron & Railway Cos. Feb. 1, 188:3. A. w. Humphreys, President, 45 William Street, N. Y. 8ntro Tnnnel.-Tunnel on Comstock Lode [or facilltattng mining operations. Receipts year endi:n~ March 1, 1888, $26~, 147; net$ l 79,675. Receipts in 1886-7 $2ti6.553; net $189,8:i8. The property was sold in foreclosure Jan. 14, 1889, for $1.3:.!5,00l.l to H. C. Dibble for Uni.on Trust Co. ot New York, reprPsenting the rtorganization committee. Stockholders had the privilege till Jan. 2, 1889, of taking part in the rtorganization on subscribing for mort~age income bonds at 60c. in order to pay the dtbt; old stock thus subscribing will be exchanged shal'e for share for new stock. See CHRONICLE for Oot. 6, 1888, p. v. of adv. and V. 46, p. 8 l9. (V. 45, p. 84. 509, 696, 847; V. 46, p. 125,803,819; V. 47, p. 50,327,382, -102; V, 4~, p. luO.) Tenn. Ooal Iron & RR. Co.-This company, organized in 1881, acquil'ed the properties or the Sewanee Mining Co., the Southern States Coal Iron & Land Co., m Tenn., the Prc1,tt Coal & Iron Co. in Ala• bama, and other valuable properties consisriog of blast furnaces, coal mines, :Iron mines, foundries, &c., and lar2"e trartsof coal and ir 1n lot.Udi 1n Tenn. and Alabama. Se!' a full statement of the property in V. 44, p. 245. Of the Birmingllam Division bonds $1.000,000 are reserved to retire prlor issues at maturity. Tile prior bonds on the Tenn. portton of the property arl'I about all refnn !ed into the a\love new issue of Tenn. Div. bonds, due 1917. The total funded debt was $5,Y~5.100, anrt t>ir.k• ing iundR tLen held amc.unted to $929,300, leavin_ir net debt $5 065.800. To stockholders of June 27, 18t-8, the company sold 101 10 of their holdings in new 8 per ct. pref. stock at 90, and took back 84 10 of their hold· inJrS at 30, this beiog equivalent to a contribution of ik6 57 per sh,ire. Dividends have been: In 1887, 1 on common, in 1888, nil; in 18d9 to de.re, 4 on µrer. From .Jan. 1 to Nov.30.1888 (11 mos.), net earnings were $618,600, against $554.300 in 1887. ID y.-ar endlog January 31, 1888, net profits were $626,976, viz: 9240,262 in Tenuessee and $386,H52 in Alaba.ma. (V. 45, p. 10,:'>, 27 J, 643; v. 46, p. 134, 2-15, ~10, 539,574,739, l!ll9; v. 47, p. 218, 442.) Texas Pacific Land Tru ■t.-The rertiflcates of this Trnst represent the ownersllip or the Janda of the Texas & Pacific Railway, and they were issued in 1888 in exchange for tlle Tt•xas & Paci '1 c land income bonds and intere~t scrip. The trustt'es of the lat-d tr11Bt are MesRrs. Cllarles J. Canda, Simeon J. Drake and William StranRs, of New York, and the lands received con1-is1ed of 3,450,642 acres, and also the company's interest in 381,284 ac-res alr.-ady sold, on wbioh there was yet to lte paid $899, 73 L, se,oured by the purchasers' oontraots. Bee descriptton of lands in V. 47, p. :i4t. Union Palace Car Co.-Thts company, formed in 188", purchased the property, patents, &o., of the Mann Boudoir and the Woortruff Drawing Room car companies. Rumors of absorp1ion by the PuUmsn ~ ~ere afloat in Jan., 1889. Thos C. Purdy, President.-Bee v. 47, p. 3, t 5 114 4 114 7 g. 7 6 g. 5 · :::: Q.-F. J. & J. Q.-J. M. & N. M. & N. M. & 8. J. & J. N. Y., Farm L. & T. Co. Feb. 15, 1889 do do Aug. 15, 1891 May, 1882 ~.Y.,Offloe,20NassauSt. Oct. 1, 1888 Jan.: 00 N. Y., Drexel, M. & Co. i889 do do Jan., 1889 New York a.nd London. April 1, 1928 N. Y., Drexel, M. & Co. Jan. 1, 1889 N.Y., West. Union Tel. Oct.,1888 N.Y.Offioe 45 William et Aprll·i;189' Oct. l, 1896 N.Y.Offioe l.> William st July 7, 1895 London. N. Y. Fourth Nat. Bank do do do do do do do do Jau:··2:Ysse Nov. 1, 1903 1892 to 1902 Jan. 1, 1917 Jan. 1, 1917 ·ioir,·· 1st coui>:il"ue·juiy 1,'87 N. Y., Office, 82 B'wa.y. Nov. 15, 1888 N. Y., Office, 63 B'way. Jan. 15, 1889 N. Y., Ollice,195 B'way. Jan. 15, 1889 N. Y., Union Trust Co. May 1, 190:.1 N. Y., Treasurer's Office May 1, 1900 London, Morton, R.& Co Maroh 1, 1900 N. Y.• Office, 195 B'wa.y Jan. 1, 1988 ICo.)Thea,rncollateral trust bonds of 1888 (trustee of deed, Mercantile Tr. issuerl to retire an equal amo11nt of stook and bonds of vario118 telep;raph and 01;1,ole co~p~nies for the interest or dividends on whioh the _Western t.Jri10n Co. 1:.; llable, these ~hen so retired to be held_ as eecur1ty for tile new bonds. The issue m 1888 was made to retire the stock and boods of the ~ew ~ork -'lt1tual Telegraph Co. In Ocrober, 1887, the Balt_1more & Ohio Tel~raph Co. was purchased oy the W. U. ($3,875,000 of 1tot ~tock) for 50,000 sharas or W. U. stook and $60.000 per annum as rental for 50 years. The mileagl'I of Wire transferred by B. & O. to W. U. Tel. Co. was as follows: Owned, 52,603 miles; le,1sed. 1,504, controlled, 4,480. Number of offices taken over about 1,000, of which 250 were not duplicated by the W. U. The net reven11es for the qnarter ending Sept. 30 were $1,707,379, being $152,379 lar~er than the estimate. The statement for the quarter ending Dec. 31, 1888 (partlyeetimat.ed) was as follows, compared with the actual figures for same qnar. in 1887: ,--Quarter ending Decemoe,. 8 1 . Aetual. 1887. E•timated, 1888. Net revenue . ••• . ••• . • • •• • • •• • •• $1,259,148 $1,660,000 Deduct- Interest on bondd .•••.•••.•••.. $122,652 Sin.king fund............ . • • • . • • 20,000 $18.1,802 :.!0,000 142,652:11---- Net income .•••.•••..••.•••••..••••••••••• $1,116,496 Less dividend............................. 1,077,351 204.,801 ---$1,445,198 1,077,377 1 2 -United Linea Telegraph.-This compsmy was formed in August. 1885, as succe1;1sor to tlle Bankers' & Merchants' Tel., Rold to foreclosure .July 3 l, 1885, subject to prior mort. or about $300,000. See account of sale and list of property sold in CHRONICLE, V. 41, p, 122. ln Nov., 1886, C. P . .lt'arr.-11 of N. Y. was apilointed receiver ot the B. & .M. property in Penn., and afterward appointed for N. J. and Conn. The Bankers' & Merchants' plan of reorganization waa oublished in the INVESTORS' SUPl'LEll~YT or Dec., 1886, anrl prior issues.) Everythin~ has been held in check by litiica.tion. and the lines have been operated under contract by the Postal Teltgraph LJo. ( V. 4J, p. 06, 16-i, 264, :i87, 488, 5-16, oOd, 6!l3.) -United States IRxpreH.-ln Sept., 1837, the stock was increased $3,0,JO,Ooo, rdhdng it to ;tllv,• ,0 ,),0flO, and the B. & O. Express was pur• chased. B. & 0. RR. owns $1,000,000 stock:. (Bee V. 45, p. 30J, 3!1, 4.38.) WeU ■i Pargo Expre ■s.-No annual rePorts or information. In Ma.rob, 1~88, thls company l.>ou1?ht out the Erie Express ol the N. Y. Lake Erie & West. RR. C1J. (V. 46, p. 371.) We•tern :Union '.I'elegraph.-On Jan. lll, 1881, was dated the s:!'and consolidation, m wlucll the Western Union raised its stock: to $80,000.000, giving par. or $15,000,000. for the stock -1nd bonds of tbe American Union; 60 per cent for old Atlantic & Pacific ~toclr in new We~tern Union; and a Rtock distriimuou of 48¼ oor cent to Western Umon sha.rellolders. Tllis stock dividend was ttna,lly held to be legal by the New York Court of Appeals in Oct., 1883. The Mutual Union Tele,n-aph mude an opposition line, but in Feb., 1883, aleasewas agreed upon. The Wes~rn Union also leases the Am. Cable, wttb !l gl!flr .. otee of 5 per cent per annum on itR stock of '614,000,JOO. I~ April. lij8tJ, the quarte1 ly dividend was paid in scrip, and no wore 41vidtnds were pa.id tlll July, 1807, when cash dividends were resumed atl per cent quarterly. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Surplus for quarter....................... $39,145 $367,821 Total nominal surplus Dec.31. ..••••... $7,393,714 $8,291,379 President Green in his ann11al report makes explanations as to the nominal surplus of the co upany. (See CHROllo'ICLB, V. 47, p. 440.1 .l:":l.sca.l year ends .June 30; report for 1897·88 was m v. 47, p. 439. 1885-86. 1886·87. 1887-88. Revenues tor the year . ••••.••• $16,298,639 $17,191,910 $19,711,1'64, ExnensesOper.ating and gen. expenses .. $3,510,658 $9,077,445 $10,065,843 Rentals ofleased lines ..•..•••• 1,892,347 1,899,954 l,9!2,486 1,673,670 Maintenance & reconstruction. 1,273,125 2,0J5,128 499,592 Taxes . .................•...•... 278,594 355,878 Equipment of offices and wires. 203,061 224,965 24l,259 ---- Total expenses .•••.••••.••. $12,378,783 $13,154,628 $14,640,592 Prottts.... .............. .••• $3,919,856 $4,037,282 $5,070,572 DisbursementsFor dividends . .................. $3,399,573 $811,864. $4,043,950 493,074. 490,258 For interest on bonds........... 494,46 L 39,991 40,000 For sinking funds.............. 39,991 Total disbursements.... . • • • Balance of protlts ..••• •.••• Surplus July l (begin'g of yr.).. Balance of profits for year..... $3,934,025 det $14,169 $-l,324,004 def. 14,169 $1,344,929 $i,692,353 $4,309,833 2,692,353 $4,574,208 $496,36~ $7,002,185 496,364. Total nominal surpl11s June 30 (end of year).... . • •• . . $4,309,835 $7,002,188 $7,498,549 The range in prices of stocks for a series of years has been: In 1881, 77 (ex. ot',rttf.) @13 77s; in 1882, 761sm933s; in 1883, 7l¾a88¼; hi 1884. 49@7M18; in 1885, fl3'9iJl313s: in l~86, 6019@:30¼l: in 1887, 67Je ~8l7e: in 1888, 7038a86lli; in 1889 to Jan. 18, inol., 83118519. The following statement snows the mileage or lines a.n<1 WU'es, number of olfioos, and tralfic of the company, tor ea.oh year from June 30, 1866, tO June 30, 1888: Miles of Miles of N11. oJ Year. PQtes d: O'IJt's. Wire. Qjft ~cs. Musa.gu. Ruelpt,. Profit.. 1865--66 . 37,380 75,686 2,l:l50 $ . . •• .• . ••• $ .••• · · 1866-67.. 46,270 85,291 2,565 5,879,282 6,568,925 2,624,919 1867-68 .• 50,183 97,594 3,219 6,404,595 7,004,560 2,641,710 1868-69 .• 52,099 104,584 3,607 7,934,933 7,316,918 2,748,801 1869-70 .. 54,109 112,191 3,972 9,157,646 7,138,737 2,227,965 1870-71.. 56,032 121,151 4,606 10,646,077 7,637,448 2,532,661 1871-72 .. 62,033 137,190 5,237 12,444,499 8,457,095 2,790,231 1872-73 .. 65,757 154,472 5,740 14,456,832 9,333,018 2,757,96S 1873-74 . . 71,585 175,735 6,188 16,329,256 9,262,653 2,506,920 1874-75 .. 72,833 179,496 6,565 17,153,710 9,564.574 3,229,157 1875-76 .. 73,532 183,832 7,072 18,729.567 10,034,983 3,399,509 1876-77 .. 76,955 194,323 7,500 21,158,941 9,812,352 3,140,127 1877-78.. 81,002 206,202 8,014 23,918,894 9,861,355 3,551,MI l ~7~-79.. 82.987 211.566 8,534 25.070,106 10,960,640 4,800,440 1879·80 .. 85,645 233,534 9,07, 29,!H5,509 12,782,8114 5,833,9::17 1'31::10-81..110,340 a~7,171 !0,737 32,50l•,t>OO H,393,543 6,908,279 188l·82 .. 13l,060 374,36812,06~ 3~,842,2-47 17,114,165 7.118,070 1882-83 .. 1-14,294 432,72612,917 41,181,177 19,40'.l,JJ~ 7,660,350 1883-84 .• U5,037 450,57113,76L 42,076,226 19,632,939 6,til0,435 11'484-85 .. 147,500 462,28314,184 42,096,583 17,706,833 5,700,92' 188.>·8d .. l:'>l,832 4'39,60715,H2 43,289,807 16,298,63::J 3,919,855 1 ◄ 8 •:..R7 .. lfi6,814 524,64115,658 47,394,530 17.191,910 4.03'i,2in 1887-88 .• 171,375 616,248 17,24:1 51,463,955 19,711,L6-l 5,070,572 -(V, 46, p, 352, 7711 V. 47, p, 278, 327, 439, 663,745; V. 48, p, 70,) BANK, GAS, INSU!tANCE AND CITY RAILROAD STOCKS. 14! INSURANCE STOCK LIST. BANK STOCK LIST. I DIVIDENDS. Surplus at latest Latest. dates.t Period. 1887. 1888. Par Amount. CAPITAL. OollPANIES, · LV oL. XLvm. -- - -- - - - - - - ---- - - - - ---$ $ 8 .ra n. , ' 89. 4 8 America• ... 100 13 ,000,000 1,868,100 J. & J. 7 Nov., ' 88. 319 7 Am. Exch .. 100 5,000,000 1,493,3 00 M. & N. 25,000 .•. . .. . __ ____ ....•.............•• Bk.oIDep'sit 1001 300,000 12 J a n. , '89. 6 Bowery .. .. 100 250,000 361,600 J. & J . l 2 16 J a n. , ' 89. 8 Broadway .. 251,000,000 1,587,100 J. & J . 16 8 J a n., ' 89. 4 B ;toh's'&Dr 25 300,000 287,600 J. & J. 8 8 J an. , ;s9. 312 8 0$ltral •.•.. 100 2,000,000 576,100 J. & J . 6 Jan., ,89. 3 6 Chase ....... 100 500,000 603,800 J. & J. 12 J an., 89. 3 ehatha.m.... 25 450,000 541,100 Q.-J. 12 Oh~micaJ •.. 100 300,000 5,727,700 Bi-m'ly. 100 150 Nov ., '88.15 7 J an., '89 312 7 Oitizens' .,... 25 600,000 j 388,900 J. & J. 15 No v.,'88. 5 Cit,' ....•... 100 1,000,000 2,254, 100 M. & N. 15 1,800 .. . .•••..••••.. ••••. · ·····:· ·· ·:·· Clinton* ........ 200,000 52,>lOO .. .... .. .. . .•....... J a n., ,89. 3 Col~bia*.. .. .. 200,000 8 Jan. , ,89. 4 8 eo.mi.erce .. 100 5,000,000 3,211,600 .r. & J. 6 Jan., ,89. 3 52,::!00 J. & J. .. . ... OoJDmerclaJ. •... 300,000 7 Jan.,, ~9. 4 7 Continental. 100 1,000,000 250,600 J. & J. 10 A.ug., 08. 5 Col'nExcb.'. 100 1,000,000 1,07e,700 F . & A . 10 8 Jan., '89.4 8 25 250,000 121,lOOJ.&J. EastRiver 20,900 . . •. ..• . . . . ..........•..... . ....• East Slde* .. . . . . 100,000 8 J an., '89. 4 8 11th Ward~. 25 100,000 132,000 J. & J . 47 ,t OO ........ . ... . .•••••...•........••• Emp. Sta te* .... 2 50,000 6 J a n ., '89. 3 :Ftfib.••..••. 1100 150,000 239,700 J. & J . ti Fifth Ave* .. 100 100.000 673,2001···· ... . •··••· . .... . ·····;··· ···· 60 Jan., 89.10 :First .... .... ,100 500,000 5,843,400 Q.-J. 40 7½ J a n., '89. 3111 8 Fourth ...... 100 3,200,000 1,375,800 J. & J. 52,300 . ............ . ... .. . . .........•••• 14th Street*l lOO 100,000 Gallatin .... 501,000,000 1,24 7,500 A. & 0. 10 110 Oct., '88 . 5 Garfield . . . . 50 200,000 238,600 ....... . .......... .. ............•• 6 Feb ., '89 3 6 Germ'nAm.* 75 750,000 207,500 F. & A . 10 May, '88.10 G61'1Xl'n Ex.• ,100 200,000 369,000 May . 12 9 Nov .,;88. 4 9 Germania* .. 100 200,000 3 54.200 M. & N . 6 Nov., t18. 3 6 85,400 M. & N . Groonwich*. 25 200,000 53,800 . . . . . . . . . ............. . ....... . .. . Hamilton*.. . . . . 1 50 ,000 2,100 . . . . . . . . . ...•....••...... , . ..... . Ha.rlem*.... . . • . 100,000 7 Jan., 89. 312 7 Hanov-er .••. 100 1,000,000 1,067,000 J. & J . 59,100 . ...... . ...•..........•........... HOID.e*...... ..•. 100,000 Rud. Riv 'r•. 100 200,000 105,000 . . . . . .. . ..... . ..... . . - . ...... . . . . 14 Jan., '89. 7 ltnp.&Trad. 100, 1,500,000 4,190,500 J. & J. 14 8 J a n, 'o9. 4 8 Irv.ing . .. . . . 50 500,000 270,400 J. & J . 51 CAPI'.rAL. COMPANIES. Par. Amount. - - - -·--- $ Net DIVIDENDS. Surplus, Jan, 1, 1888.* 1886. 1887. 18es. Last Paid. $ -- io ... io ... Alliance . . .. 1,000 200,000 io·· · 400,000 a·o-1:352 Americant ... 50 Jan ., '89. 5 300,000 191,855 12 Bowery . .••. 25 12 Jan., '89. 5 10 200,000 328,036 12 Broadway ... 25 12 12 Jan., '89. 5 300,000 170,34ti 6·50 6¼ Citizens' ... t 20 612 Jan., '89. 311t Cit y ......... 70 210,000 160,459 8 Aug.,'88. 4 8 8 19,233 500,000 Comm'nw'th 100 2 Jan., '89. 6 Continental t 100 1,000,000 917,238 i5·40 15·40 iz.':£5 Jan., '89. 7 · 300,000 642,265 15 Eagle ..•.•••. 40 10 15 Oct., '8&. 5 80,107 6 Empire City. 100 200,000 7 612 Jan., '89. 3 87,015 7 200,010 7 '88. 319 Aug., Exchan~e ... 30 7 89,498 10 Farragu ..•. 50 200,000 10 10 Jan., '89. 5 4 3 ,423 . ... Fire Ass'n . .. 100 300,000 6 Jan., '89. 5 41,433 8 204,000 Firemen's . .. 17 6 Jan ., '89. 3 German Am. 100 1,000,000 2,112,137 15 20 20 Jan., '89.10 Germania ... 50 1,000,000 672,142 10 10 10 Jan .. '89. 5 200,000 107,385 10 Globe . . ...... 50 10 10 200,000 448,3n5 10 Greenwich .. 25 10 5 '89. 5 Jan. , '89. 10 §8 ,972 6 200,000 Guardian ..•. 100 3 ...... Jan., '87. 3 ~0,3 5 2 10 150,000 Hamilton ... 15 10 Jan., '89. 3 8 Han over ..•. 50 1,000,000 428,928 10 10 Jan., '89. 5 10 Home ........ 100 3,000,000 1,375,691 10 10 Jan., '89. 5 10 54,069 10 200,010 J efferson . . . t 30 10 10 Sept.,'88. 6 150,000 175,004 20 Kings Co.(t) 20 20 16 Jan ., '89. 6 70,847 6 210,000 Knick'bock'r 30 6 July, '87. 3 ·1·· · Jan., 40,267 8 Lafayette(t) 50 150,000 8 '89. 3 Lt1 erty . ..... 100 800,000 '32:430 7 300,000 iiin.:·•s8... Long Isl. (t) . t 50 200,000 167,144 8 Man.& Bnild. 100 8 Jan., '89. 1 6 200,000 168,087 10 50 10 Jan., '89. 5 10 62,055 8 3712 200,000 8 Jan., '89. 4 8 210,000 301,039 12 N.Y. E!-J'table 35 11 10 Jan., '89. 5 51,004 8 200,000 N.Y. Fll'e .... 100 8 Aug . '87. 4 500,000 335,938 10 10 Niafara .... . 50 !O Jan., '89. 6 350,000 59,t:!29 8 Nor h Ri ver. 25 8 Oct., '88. 4 8 Pacific . ...... 25 200,000 338,430 12 12 12 Jan. , '89. 6 200,000 10,676 10 Park ......... 100 July, ' 87. 3 812 200,000 54,194 10 People's . .... 50 10 Jan . , '89. 3 150,000 20R,710 12 Peter Cooper 20 12 12 Jan., '89. 6 Phenix(t) ..•. 50 1,000,000 143,6&7 10 10 Jan., '89. 3 200,000 Prudential .. 100 5· iiiii.; 200,000 i54:4a·4 io··· 10 Rutgers' ..... 25 10 Lblooln .••. 100 300,0001 176,300 ..•......•.. . - -.•. · - · · · · · ; · ;.; · · · · Standard ... 50 200,000 140,196 7 7 7 Jan. , '89. 3 3 ....•. Jan., ,8 .. 3 12,600 J. & J. M.adis'nSq.* 100 200,000 73,509 10 Stuyvesant .. 25 200,000 e Jan., '89. 3 6 7 Aug., 88. 3¼1 Unit'd St.ates 25 ~attan * 502,050,0001,171,500 F. & A. 7 250,000 2 55,297 10 11 11 Jan. , ' 89. 6 18 Jnn., :89. 4 8 M.kt & Fult. 100 750,000 664,000 J. & J. Westchester. 10 300,000 282,705 10 10 Aug.,'88. 5 10 8 Jan., 89. 4 8 l [ ~ c s ' . 25 2,000,000 1,625,900 J. & J. 260,000 584,270 20 Wms'bg C.(t) 50 20 Jan ., '89.10 20 919 10 Jan., '89. 5 l[ec,b. & Tr* 25 200,000 160,500 J. & J. 6 Jan., ;89. 312 6 Kercanliile .. 100 1,000,000 667,200 J . & J. 7 .Tan., 89. -319 7 60 2,000,000 82~,400 ;J. & J. *Overall liabilities, including re•insurance, capital a n d scrip. 6 J a n., '89. 3 6 ch. El:-. 50 600,000 128,500 J. & J. t Surplus includes scrip. S Dec., '88. 4 8 Me · polis*. 100 3~0,000 428.000 J. & D . (t) Brooklyn. 6 J a n., '89. 3 6 Mt. Morris*. 100 100,000 199,200 J. & J. 16 Jan., '89. 4 16 M.urr'y Hill* 50 100,000 264,100 Q.-J. ~ Impairment. 8 Nov.,'88. 4 8 ll'assau* ..... 100 500, 000 167,300 M. & N. 5,000 . • .•.•.. ................ ··,-······· N. ,Amf:!t'm*. .... 250,000 10 Jan., ,89. 5 New: "\:orK .. 100 2,000,000 1,578,400 J. & J. 10 4 Jan., 89. 4 8 CITY HORSE RAILROAD STOCKS AND BONDS 11'.'YWotUlty 100 200,000 114,400 J. & J. 6 Aug.,:88. 3 ll.'1'.N. Ex. 100 300,000 123,500 F. & A . 6 312 89. 7 Jan., 7 Ni:Qth .••• •.. 100 750,000 269,500 J. & J. Dividends and interest. 1,900 .••.............••.........••.•••. Ntil.thA.ve.*. .••. 100,000 11,700 . .•.... . .••. . ...•.........•....... N1D.e.'tbW'd• . ... 100, RAILROADS. 6 Jan., '89. 3 6 II'. America• 70 700,000 466,800 J. & J. Par. Amoun-s. Period. Dat6. 8 Jan., ' 89. 4 8 North RiV'r* 30 240,000 107,800 J. & J. ~ 10 Jan., '89. 5 OrientaJ*·. .. 25 300,000 353,600 J . & J. 10 8 Feb., '89. 2 8 Paei1le * •• •• 50 422,700 303,900 Q.-F 50 $700,000 Q'rt'rly. 2 Bept.,1888 Atlantic Avenue (Brooklyn).. 8 Jan., '89. 4 Park ....... 1002,000,0001,807,600 J. & J. 8 Bonds............ . . . . . . . . . . . . 1,000 500,000 . •• • . •• 5.7 1885 & '94 10 Jan., '.89. 5 People's* ... 25 , 200,000 289,800 J. & J. 10 100 900,000 J. & J. II&, Jan ., 1889 Bleecker St. & Fult. F.-8tock. 6 Jan., 89. 3 Phenix...... 20 1,000,000 529,300 J. & J . 6 1st mortgage................. 1,000 700,000 J. & J. 7 July, 1900 5 Oct., '88. 3 5 Prall, Exch.* 100 1,000,000 142,800 A. & o. 100 2,100,000 Q.-J. 3 Jan., 1886 7 Jan., '89. 312 Broadway & 7th Ave.-8tock. 611: BE,public ... 100 1,500,000 820,100 J. & J. 1st mortgage................. 1,000 1,500;000 J. & D . 5 June, 1904. 4,400 ....... ..........••. . .........•.•• Rlyer Side*. . • • . 100,000 1914 2d mortgage................. 1,000 500,000 J. & J . 5 6 Jan., '89. 3 Bt.Nio.bolas* 100 500,000 211,300 J. & J. 6 1905 Broadwa y Surface-Bonds .... 1,0001,000.001.1 . •..•••. 5 -6 Jnn .• '89. 3 5 Bet.bo.ard~.. 100 50&,000 134,600 J . & J. 1924, Bonds . .•.... :................ 1,000 1.500,000 ......•• 5 6 Jan., '89. 3 6 f<0,600 J. & J. lev.enth ..... 100 300,000 1889 Feb., 2 Q.-J. 525,000 100 (Brooklyn)......... Broadway 10 J a n ., '89. 5 Beoond• ••... 100 3po,ooo 213,400 J. & .r. 10 1889 lat mortgage................. 1,000 250,000 J. & J . 7 'BS. 4 8 8 Shoe&L'tlu: 100 500,000 234,500 J. & 1889 6 ..•..••• 100.0 1,000 .. . . ••• .••. . mortgf!,ge..... 2d 8 Jan., '89. 4. 8 61,700 J. & J. 81.xth ....... 100 200,000 10 3,200,000 Q.-F. 2 Feb., 1889 Brooklyn Oity-Stock. ••• . . . .•. 6 Nov., '88. 3 8 8ta1eo!N,Y* 1.00 1,200,000 454,200 M. & N. let mortgage................. 1,000 800,000 J . & J . 5 Jan., 1902 519 Jan., '89. 212 Tbltd ....... 100 1,000,000 247,200 . & J. 6 100 1,000~000 ..•...•. 119 .......... . Brooklyn City & Newtown .... 6 Jan., '89. ~ 6 Tra4 mens' 40 1,000,000 232,400 J. & J. 1890 1st mortgage................. 1,000 400,000 ... •. ... 7 40,400 .....•...•••...•••........•. . ..... Twelf.Ward* .... 200,000 100 500,000 A . & O. 4 Oct., 1888 Crosstown-Stock... 2,900 ..••.......•••••••••......•. .. .••• Brooklyn 23(1iWard•.. . . . . 100.,000 1908 5 J. & J. 200,000 1,000 bonds.......... mortgage 1st 1,200 . . • . . . • . . . . . . . . ..•.........•..... UnAou*. ..... . . • . . 250,000 100 500,000 Q.-F. -2 Feb., 1889 Bushwick Av. (Brooklyn)-8tk 8 Jan., '89. 2 8 U. States ... 100 500,000 480,400 Q.-J. 1902 6· J. & J. 400,000 1,00 ... . mortgage............. 1st 82,400 . . • . . . . . . ...•...••••......... . .... We&tern .... 100 3,500,0.0 0 100 600,000 Q.-J. 1% Sept., 1888 Central Crosstown-Stock:..... 10 Jan., '89. 5 10 West Side* . . 100 200.000 211,200 J. & J 1st motj;gage. . .. . . .. •. . • .. . .. 1,000 2:'.>0,000 M. & N. 6 Nov., 1922 100 1,800,000 Q,.-J. 1111 A.pr., 1887 Cent. Parli N: & E. Riv.-8tock * These ar-e not National banks. Consol. mortgage bonds..... 1,000 1,200,000 J . & D. 7 Dec. 1902 f December 12, 1888, for National banks and December 8, 1888, for l902 2d mortgage........ ......... 1,000 300,000 . .....•• 5 S~te banks. 100 650,000 Q.-F. lllt Aug., 1888 Christopher & "!.0th St.-Stock. 1898 Bonds........................ 1,000 100,000 A. & O. 7 100 500,000 ..••.•.. 3 Aug., 1884 Island & Brooklyn..... LOCAL GAS COMPANIES' STOCKS AND BONDS. Coney 1887 75,000 J . & .J. 7 3d mortgage.... ..•.•... .. .• . 1,000 1903 Consolidated........ . .• •. . •. 1,000 125,000 J . & ,J. 5 Dividends and interest. D. D , E. B. & Battery-Stock.. 100 1,200,000 Q.-F. 2 Feb. , 1889 1st mortgage, consol.. .....•• 500 &c 900,000 J. & D . 7 June, 1893 Par. Amount. P ri d $ GAS COMPANIES. 100 1,200,000 F . & A. 6 Feb., 1914c Scrip .. .. . . .. . . .. . . . .. .. . . . . Date. e <> • 100 l,OuO,(iOu Q.-F. 112 Feb., 1889 EighthAvenue-Stock......... ~ 1914 100 l,0%,000 F. & A. 6 8crip . . . . . . . .. . . . . . . . . . . . . . . . 100 748,000 Q. -F. 3 Feb., 1889 25 2,000,000 Various 312 Nov. 5, '88 42d & Grand St. Ferry-Stock. Brooklyn Gas•Light. .•. . . . .. . . . 1893 Apr., 7 O. & . A 236,000 1,000 ........... . mortgage..... 1st 201,200,000 Various 2 Jan. 1, '89 01~• Gas-Llgnt (Brooklyn) 100 2,500,000 .... ... ... ...••. . .. : ••• Ave.. J3c>i,.d.s............ ............ 1,000 250,000 A. & 0. 5 1895--1905 42d St. Man. & St. Nich. 1910 6 s. & :-.I. ,200,000 1 1,000 .... .•. .•••. ... . mortgage 1st 100 35430000 J. & D. 2 Dec. 15, '88 Consolidated Gas.............. 1916 2d mortgao-e income. . ... . 1,0001,600,000 J. & J. 6 20 766,000 Quar. 2¼ Nov. 1, '88 .Jeney City & Hoboken........ 100 17<!,000 . . . . . .•. 2¼ ,Jan., 1886 Grand St. & Newtown (Bk'lyn) 1902 Metrooolltan Bon~........... 1,000 700,000 F. & A. 6 1st mortl!.age.......... .. . . . . . 1,000 17a,OOO IF . & A. 7 j 1896 100 3,500,000 J. & J. 2 J a~. 10,'89 HQ.tu.al a{. Y.).. •• . • • • . • • • • . . •. 100 25Q,OOO ,Q.-F. 2 Feb., 1886 Houst. w. 1::1t. & Pav. F'y-Stk. 902 aonds . .·.... .. . . .. . . . .. . ...... 1,000 1,500,000 M. & N. 6 500 500,000 J. & J. 7 July, 1891.. 1st mortgage . ................ 251,000,000 Various 119,Jan. 1, '89 N~a.u.(Brooklyn}............. 800,000 . . . . . . . . .2 IN.ov., 1887 100 . . • . •• • . venue......... A Ninth &,rip.......................... Va.r's. 700,000 M, & N. 212 Nov. 1, '88 lQO 1,862,000 ?. & J. 5 Jan., 1887 101,000,-000 ~uar. l 12 Dec. 15,'88 Second Avenue-Stock........ People'lil (Brooklyn)............ 1909 1st mortgage . .....•• _........ 1,000 1,600,000 M. & N. 5 1908 Bpn"'5; 7 per cent ............ 1,000 400,000~. & N. 7 100 1 ,500,000 Q.-F. llt Feb., 1889 Avenue-Stock.... ...••• Bonds, 6 per oen.t.. •. . ... . . .. Var's. 100,000 A. & O. 6 Oct. 1, '88. Sixth 189~ July, 7 J. & J. 500,000 1,000 1st mortgage................. 501,000,000 Qua.r. 2 Jan. 21,'89 wmtaDl8bUfgh.... .. .. . ••.. .. •. 100 2,000,000 Q.-F. 4 IFel>., 1a8!) Third Avenue-Stock.......... 1899 Bonds...... .. .. .. . . . . . . . . .. .. , 1,000 l,OP(),000 A. & O. 6 Bonds .............•. : . . •. .••. 1,000 2,000,000 J. & J. 7 !Jan., 189P100 1,000,00C J. & J. 3 Jan. 1, '89 l(etrox,p~ (Brooklyn) •• •••• 100 600,000 F. & A 219 Feb., 1889 Twenty-Third Street-Stock... 1899 Mqip.()1.p_1t,J.'Bonds • • • • • •• •• •• •. 1,0UO 750,000 M. & N. 319 lstmortga.ge .••...•.......... 1,000 250,000 M. & N. 7 IM;ay. 189.3 100 3,000,000 ··~· .•.. 211 Jan. 15,'89 ,Municip-L............ ~ 1899 Bo,ids............ .... ........ ...... 300,000 J. & J. 6 • Th18 column shows last dividend on 1took8, and date or maturity 100 2,000,000 ••••••. 2 Ja~·}Jo'69 BQui\aj)le............ .. .. .. .... 1.P00.000 F. Ar A. ff 1. . ~nda ... . .... . .. . .. _........ ot l>onda. ~\~~: ~~~ ~~8:8881 ~:~88 ~: ..&_.~: -~-~-· .~.~-- ~~~:·.:~?: .~.. --· ;··· 1·••. ·s·-- ·s--· :r · ~:~:~!P.-.-:: ·s··· ...... ·•s·o: · · ~•. M.e!J M.~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis i * 1----1--- --1----- J.I Jan.. = ----1--------- JANUARY, RAILROAD EARNINGS. 1889.) 1'13 MONTHLY EARNINGS OF PRINCIPAL RAILROADS. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ -~~ ~~ ~ c h . Apr~ .ilia!:_ _Jun~ ~.~~.~?t200 m.).. AJ~~~~.~~~~~.~~. 1885 ..... ...... . ............ (296 m.).. 0 1886 .. ..................... . ... (296 m.).. 1887 ............................ (291i m.).. 1888 .......... .................. (296 m.).. 1 J,216 88,,:ll8 104 ,.,1 98,450 96,800 94,158 127,700 124,50:"; 186,749 128,707 1l,ooo .J,749 68,011 8S.345 117,66:3 111,845 J,543 68,224 78.275 lH,789 115,248 J,806 82,831 88,872 ll0,U5-1 116.067 J,157 97.808 98,889 ll\l,218 127,662 ~•.!:_ 70,002 82,664 115,973 120,912 Au~ _s_eP..!.:_ ~!.:_ _N_o~ J,087 77,851 97,756 1211,617 122,76!S 0f,270 00,528 104.428 187,868 118,866 1885 1886........... ...... (2.404 to 2,487 m.).. 862,2(,8 1.057.407 1,800,352 l,261.471:11,198.173 J,252,75-1 l,~8,110 l,3-ll,U511.466,2461,687.848, 18&7 . .............. (2.445 to 2,993 m.). l.Hll!.592 l,.!86,463 l,7t12.628 l,684,35~ 1,553,719 l,:'>41,876 1,534,002 t,501,37n l,!lOff.26 1 !,074,160' 1888 .... . ... ........ (2,99:J to 8.025 m.) .. l,071,48a 1,0tl9,123 1,233.288 1,~05,3;;0 1,253,96:3 1,336,40111,!338,826 1,:n8,74-1 l,4ll,8 50 L,560,743 ,.. _,.. Burlln,;rton Cedar R~P• & No.1884 . ............ . ... . .. (tl8to889m.) .. 213.~8 201.964 2li.R49 21,,o,6 221,578 206,4!8 195,9i0 216,590 261,ltJ"J 281,4L3 I ~:~ l~·:::::::::::::::::cii~?fo11,88&::L: f~:~ 188'i .......... ....... . . . .... (1,0:m m.) . . 220,208 110,079 115,700 129,528 15>l,7'Ji 158,420 ~-,-,1-~1,076,186 1,215,195 1,575,99:t l,549,'29S 1.461,022 1,603.418 1,719.355 1.657,078 1,:lH0,371 1,235,082 1.258,374 1,521,S.29 1,495,95! 16,291,ssa 15.571,898 15.984,001 18,461,866 274.182 [ zsq,415 2,796,459 ~:t~ZI ~~~:~ ~g:m ~~tJi5 ~g:~t ~:~i ~~:~i: ~~:g!fo m:rJ 2911,5891 286,'375 235.216 216,788 217,446 20~,163 287,68'1 26{1,062 319,6tll:! ~:m ~:~~ 2J9,59i 193,li6 194.501 222,148 19:3,819 215,206 280,433 3::!tJ,856 305,858 305,375 a.OOl5,962 808.S!H ! 2,883,77& 224,639 400.5'17 279.575 458,BU.6 3t8.9a7 692,Hl 424,557 012,537 550,861 78±,862 549,367 907,lj38 565,815 8~8,427 689,8-10 823.487 785,531 915,83~! 640.373 814,060 521,552 5,750,522 729,935 A,867,218 1:\9,154 85.992 114,726 127,897 122.760 92,152 121.898 88.777 109,7511 86,789 97,212 85,079 124,~1 118,565 140,950 142,044 154,8811 147,9-13 122,196 12a,94o 118,297 l,448,2l58 127.497 1,807,m 1888 ........ . ........ . .. . ... (1,046 m.).. 208,245 HJ5,98:, 221,014 r&::~~~~.:':~~•.~.~i:931 to 2,794 m.).. 1885 ..... •.... ... . . (2,794 , o 8.5i7 m.).. 274.6-15 428,764 .(401 to 490 m.).. Of~~~.~~~~-:-:-..... 1885 ••..•.•. . ...•• . ..•........ (400m.l·· 118,702 86,247 0 Total. 1:a\,688 98,687 181,878 165,107 l5;j,l:144 1J.134 104,278 124,072 158,792 18{),207 ~sfo~). 1,112,348 1.161,020 1,404,056 1,soB,OOQ 1,343,862 1.254,020 1,301,689 1,s91,s19 1,51s,rM t.742,06il A~~~~.~.~.~~~~~cf2~~~t2 ........... ...... (.!,8i5 to 2.396 m.) .. 1,115,698 1,004.748 1,34f},135 1,297,820 1.184,080 1,218.772 1,181,784 1,248,909 1,885,585 1,676,075 Dec. tm:t: ~g:~ i1g:i~ n~:1~1~:~~ ~~:~gg 1.~~:Uh~~:~11.~~:1~i 1.i~:~inm:egi ½:~:~ 1.rri:~~n~:~:r>J I~L::::::·:::.::::~!:~m 1888 ............. . . (4,470 to 4,660 m.).. 801,205 887.1194 9tl8,52311,08i,587 1,010,~5 1,180,996 1,188,355 1,2 18 ,737 1,130,9-ii l,t!48,70()1 1,St8,9ci i *L,147,000 l:J,196,093 ½~:ifz ~:~i nu!~ ~g:i&~ f:m t~:m 3g:i~ m:~~ Mt~5 m:g~~ t~:gg~ f:i::~:::::::::::::::::::::::::lgt8:::y. 13~:m 125,871 * LtJ,tl58 U8,272 107.1!54 124,312 108,19 ! 108,030 106,62 JI 101,429 115,344 126,6:H 141,900 I ,., 202 ~08,9~ ~·~26 ~·~ ~~·~~ ~&8·~M ~}m ~i·-22 ~~8·~~ t~.l~ ~~·J83 ~~·~1 276,079 l=············ .. l~::::.:::::::·:::::·.:·:::::.Jg~::L 261:1A9 21s'.241 338:154 s11:rn2 807:l!93 s2doo 405:5011 410:~Hoj 413o~:s9J s12:os1 ~:~~ 3!t:is1 l~L::::.:::·:::::::::::::·:·c'l8::::J: tU~~ m:1~~ l~:t~ ttiml m:~~r m:~~ ~:~~ !~~:~~~ ?:~.~ ~~;:t~ ~~:8~ ~~·~:~ 1 1 1888 ....... . ..... , .......•...... (510m.).. Ohesapeake & Ohio·· ············<502 m.).. ....~.~~:.~.~!~.~{t~~J.. .Er&-b~.~~ 1885:: .... ........... . ....... (139 m.) .. \ 1886... .... .. . ... . .. . ...... J189 m.).. 168, ............ .. ............ (189 m.J. . 1888 . .. .......... . ............ (189 m.) CrJ&~.~.~~~.•~~~~(8~8~ 47,888 55,641 59,278 76,651 87.800 45.94Q 48,682 68.631 68.420 74.499 57.519 58,807 74,2i¼ I 81,638 75.634 66,403 55,688 65,743 78,581 ti6.68i l 74,856 58,050 95,846 U8,980 93,3~7 58,056 52,761 67,411 98.74-l 77.208 57,646 49,929 68,128 84,701 75,881 ~~\i~~) .. 1.648,220 1,971,018 2,l08,028 jl,832,45l 1,981,127 2,077,182 83,l'n 62,932 91,028 lOt),056 93.314 76,252 72,519 95,SOJ lOll,707 9•. ,85 71,22b i8,29-l 89.858 110.684 ...... 68,574 70,982 90.674 112,635 .. .. .. 1888: .... .......... (4,698 to 4,816 Obica110 & Eastern Illinots- m.) •. 1884 ................. .......... (251 m.) •• 1885 ...... •••••• •• .......... . (251 m.).. 1886* . ..•......••••..••........ (247 m.).. 1887 .............•....... (251 to 256 m.).. 1888• . . .............. . . . .... (256 m.) . L,671,2941,686,519 l,211,18811,708,8!4 1,749,187 125,425 107,467 127.084 100,252 18:'.>,883 12\!,142 155,063 141.289 157,626 159,2tJO I 111,048 146,726 1•18,023 169,842 162,853 ,., 108,54, 110,066 135.557 154,2-i2 152,458 , 112,309 126,510 115,188 155,953 167,834 8,588,606 ::ggA:= 4 451 1 • . :. .~! 762,627 65,584 706,467 57,782 W7.529 80,846 9\!,821 1,115,073 . .... . . .. . . . L,785,199 2,447,495 ~.707,110 2,688.597 2,238,891 2,060,299 25,4F8,612 26•556,427 ~·~1~.g~g 2:~is:834 2:16a;sss ~;l~~:~ •••••• .....• l ,953,\!J4 l,S68,5012,278,'i08 2,475,144 2,802,3!3 2,230,880 182,985 1,546,115 135.4.00 128,577 128,8~ 150,514 158,87i 156,577 164.065 l,673.94SI 161,011 116.812/ 114,0.JD 146,786 169,714 175,961 167,027 J ,782,000 lt:}4,339 184,285 141,249 166,196 171,t\29 178,737 184,1:..'9 2.071,526 20U,1::121i 168,973 170,815 188,980 188,421 203,U71 187,1108 2,155,31•1 11:13,867 17t,OJ2 167,805 209,001 19tS,855 2:l9,374c ~·~~·~i~ i:~A:~}g ~:~~8:ng1~:gg~:n8 ~:~t~~ k~~:i~ ai~:~t ~:~rs:~~ ~:~~~:i~ ~:~~g:~~ :::::::::::~i:~~ ~g ::~ ::~: t~:~ I~t::: 1,985,8851.847,235 2,115~,682 ,2.101,000 2,152,01t .?,140,833 2,167.801 2,382,108 ll,4•Wc.924 2,774,922 1-687 ...... . ...... (4,0St'lto 4.tl93 m.) • . ti~:;:: 1,881,262 c~~~?..~~~~~.~~f.~5t\:t:£t~c 1,467,09'11,817,004 1,788,726 1,948,636 1,985,768 1,919,902 1,949,545 1,825,848 2,201,241 2,539,796 u~:m 1:~:i~ ~::ru:m ½:~~:~i ~:~i~:m t~N~ ½:8~:~~ ½:~uii ~:~i~:~~N:~~:iJ* i:~~~ ::L 11L:::::::::::: Jt= to~g 5,M8 m.) •. 1,490,239 1,52i.1;72 2;H2.tl87 l.979,0tll l,866,718 2,119,199 1,846,4.56 2,007.89, 2,~59.62! 2.800,689 2,808,877 2,218,998 23,470,998 420 2 • ~:~~:~½~ 2,517,7H0 25,866,124, 1887 ......... . . . ....• (5,298 1888* ............... (5,621 to 5,670 m.) .. 1,452,000 1,577,000 1,981,000 1,i:,25,000 1,766,500 2,001,000 1,923,500 2,078.000 2,478,000(9-0!,500 2,615.000 2,273,500 24,868,000 1 0 m.) •. l,502,4181,504.100 1,766.9!0 1,822,165 ~.076,8291_998,275 1,976,177 2,027,982 12,346,914 2,528,848 1996 509 1,951,746 28,491,898 1885................... . .... (3,848 m.) •• 1,512,680 1,479,808 1,986,542 1,770,829 1,982,766 l,997,tl~9 2.086,803 l,922,285,2,552,824 2,8i8,~69 2:2Q9:541 1,971.897 24,301,058 638• ~:ffl:~ ~rnuz: r~a~~.~.~.~. :~~cs~li~~iM3 i=:::::.::·::.::::.J!1t½ ~ i:i~ :t: a~:t~ ti~:~~:~:~~ i:~&:~ aii:yz~ u~:~~ ~:½!g:~ ~:fJ:~~ ~:~:~~ ~:1~:m ~:rJ:~ ::tzt:gg~ ~:tg:~ I ........ ..::::::::::::::::u:865·to<½:rJ ::>:: ffl:~i ~g:ggg g~:;gg i1i:m ~i:~t ~:m igf:~J it1:rJ ~ir:iAt ~~~:ggg 1888 ...... . ...... . (4,208 to 4,252 :.n.) .. l,571,289 l,H76,4981.897,532 1,954,8~ 2,0U0,253 2,286,lli4 2,l-l9,0tl6 2,295,2912,714,2 i4 2,972,265 2,2d3,424 1,940,!!27 25,~2,973 444,100 5,784,989 540,959 18!¾ ............ .... (1,807to 1,3l8m.) .. 350,288 881,453 468,952 567,908 513,819 4':6,514 466,760 469,130 527,88-l 642,460 465,811 5,814.810 588,587 (1,818 to 1,825 m.~.. 881,452 307,048 458,824 464,892 478,102 470,508 472,523 476,2-29 600,905 1 699,884 Ohle. St. Paul .lUinn, & Omaha- !1:sl~~:.~.t. . ~.~~~~.~~~!f~';;.).. 0 438,927 600,841 496,246 472,17tl 501,689 M0,6.1& 605,W7 650,802 741.74~ g:~ffl ~:1:g m:~~ . •.•• , . ..••. 615.790 170,318 122,686 203,444 172,544 195,995 199,168 216,168 196.671 204,1132 202.274 201,150 221,186 228,tO\! ~,712 212,98-1 197,822 180,99f;, 193,831 20-J,74l: 200,256 205,195 19~,175 191,698 217,7r17 215,71a 192,488 179,276 193.6137 1 217.726 219,805 209,5Ui 177,087 218,dSl 214,881 lUti,181 244,117 200,847 286,482 231,458 241,87~ 250,988 210,259 2-15,528 235,268 266,118 241,145 220,266 :.!47.958 242,178 252,420 196.813 194,678 208,429 220,182 211,SPQ 208,093 2.484,781> l ~ ..• ................ . ..... (342 m.).. 1886'..... ....... .. ....... (842 to :.!»7 m.).. 1881 ..... . ................... . (297 m.). . 1888.......... ........... . ..... (308 m.).. 1~............................ (SS6m.).. ~:~~ 288,273 216,820 224,937 212.051 226,702 286,4.51 242,797 242,381 231,186 239,030 2,658,185 2,681,5il'1 2.882,172 s,a77,551 S,624,490 . .....•..•• . ..••.......••. (1,899 m.). . Olnclnnatl N. O. & Texas Pac.- 824,88& 164,371 205,706 2378,467 246,977 2,601,568 287,567 2,tj92,7M .. .•• , ..... . 261,716 271.105 272,584 Im::::::::::::::::·::::::::::•rngg:l: 199,715 ~:~~ ~i:~~~ ~g;:m ½gl:~ ~~:~ :~:m ~:~ ~~:~8 ~i:iro 252,670 824,116 2Sl8,097 ~::: :: ::: ::::: :::::::: :::: :::l:ff :L ~:~~ ~~:t1 i~:i~ ~:~ ~A:m ~~::~ ~~:1&¥ :rn:gg! iitm i~:~~ 8{)0,5~ SW,497 Clev-. Col. Cin, & Ind.8215,125 826,301 277,750 302,995 811\,147 294,113 302,200 800,649 809,078 344,,V,2 889,927 872,967 ~ · ............. . ... . ...... . .. (891 m.). ........................... (391 m.~.. 281,001 =·~15 ~r,145 ~7.~ 264.gi2 2w,4oo 287,981 841,161 m:~ 862,084 :329,395 845,tS88 1886 :~m::):: ;~:~ 2BM:,ti 4J:~ 381:20~ rs8:01t ~:m ~:~I :a,:r:r 4.59.139 :~:~ m:!~ m:~ 1887'.'.::::::::::::::::::::::::: Ul88". . ............... . ...... (891 m.).. 813,436 285,805 343,090 801,520 319,891 318,194 303,752 413,846 45'3,372 419,072 343,968 De'n't'er & Rio Grandfl- !~:~ h5~Uil ff!:i ½i:::::: ::: _.·_.·_.· : :.:.:_-:·:::·:·j}:f½l:t i~:Hi ffl:ffl m:m lrJ ~:m m~~ m:~ g1N1~ ½~·::::.:::::::::::~uinn~~:t. ~:~~ ~t~f ~::g ~u~ 5:Hi r~:! L~:~ ~:fII ~t:~ ~i1:~i~ ~~J:~i .i¥g:~ .i1i:~ Htm HH! ~:m T~~ Di:5 ~:ru 1;:i lig:m m:~i i i !:ii ~:&E i~:E! !l:i~ l:m i~fig ~l~ ~J! !ff:!~ lS:i i;:m Iitm ~l:m ~:~:!ii 278,087 812,723 m:= !JUH:f m:~ -;·;·;;·;·;·;~·;·;·;·;·;·;·;·)i:: m:~ ffl~ ~ 44.4,667 416,674 186,792 189,589 218,759 217.660 423.898 223 298 438,3971 4.>6,59¾ 1,.9 348 172,858 194,396 826,572 190,585 *207,558 "226,450 ..Jl6,080 *185,0801 195,659 199,~27 727,0591 704,238[ 837,443 818.699 844,609 782,830 957,803 961,812 Q15,01S 131,512 181,642 m:~: . · · · · ..:......(1:958::):: =···· 1887::::::::::::::::: ···(i·666•toq.~m·r· ~.,;i.tii°iown.'_:_ ··•• · ... (l,9qim.).. l ~ ......... .............•... (402 m.).. ffl:~~ ~J&:lS i::tes ¥1~:~fg {159,948 833,506 956,89i 798,761 ~::L 1~:m ½~:~~ =s·::::::::::::::::.:::.-::·~ 1881 ............ . ............. (402 m.).. 118,860 103,086 1888 ........... . .. . .......... (402 m.).. 118,571 147,616 "ll89,244 5,607,.70 158,315 171,844 2,252,988 182,47i 204,990 916,065 1,078,544 103,632 */l02,765 c:Z,t00,224. 1,059,505 10,47R,4d 172,199 307,810 m•.~ 517,560 188,007 466,628 174.328 295,461 •• . ••••• •••••... . (1,098 to 1,143 m.J.. Flhlt & .Pere Marquett- 86 550,\167 470,874 291,519 1864•.......•...•.. .. (1,526 to 1,666 m.).. ~:~~ 376,803 8,993,6ln 412,289 381,109 317,98b i:.~.~.~.~.~.~·.~·.;.~~.:.~.:.:.-·. :.·:.·:.·:.~: .: .:. .:·.·:·.~·.~.~.·~,(it:mm:.·))i~.:. Ull:i 880,180 869,811 320,392 zr8~'Tenn. Va. & Ga.- (1 098 m) GCent.-lll. Line & So. Div.Jt 8,811,748 8,669,489 4.lSi,118 4,616,898 t!U: ½:l~:i~ l&:~:m ~t·m ~:~ ti:~~A 8~:i~ f:½~:~ 857,945 142,159 ~:i~ 774146 882:980 gss,092 134,SSi 883,366 975,099 1.099,78.~ l,~,194 1,191,228 1,ll>6,8ot 11.868,088 915,716 *953,545 _*910,671 *108741H *1,117,580 *1,147,!>80 cl1752580 150,l>il 1.712,389 11>2,169 180,~ 127,71!'.l 129,480 166,626 184,867 144,197 157,501 128,260 118,553 121,550 1~:n1 138,291 115,308 ½~:695 . 126,5191 122,774 150,689/ 137,476 877:015 9.28,939 1 ½~~:~i ½t:ui 149,fl86 m= 1:~~:= 1~:~ izi:i~ m:i~ 168,798 1,678,200 168,\196 158,879 180.110 126,181 *168,656 *185,705 *153,567 *169,834 cl,762,768 _ Lo_~l•ville & Nashvi111,292,127 18,662,44.'1 l ~ ........................ . (2,065 m.) .. 1,089,317 1,015,4811,187,7381,125,2911, 156,109 1,082,359 11,060,104 1,11-7,818 1,l45,8fS6 1,291,714 1,199,~ 148,2141,263,469 1,129,~ J,164,21213,672,04d 1885 ................. (2,065to2,0.lSm.) .. l,170,7491,082,175 l,280,5281,158.6991,101.403 l,086,578.l,OM,3321,078,7961, l,25S,9b0 1,879,828 1,281,007 1,278,717 13.m.546 l,196,2Si 188.6................ .. .. .... (2,028 m.) •• 1.050.686 1,0!9,266 l.lOS.93,5 967,74-0 1,087.7l41,121,192 11,257,200' 1,869,561 l,487,9081,538,706 1,501,898 1,449,562 16;M2;110 1887................. (2,023 to 1,973 m.) •• 1,227,7tt9 l,17G.016 l,327,5191,177,743 1,254.00i l,260,8291,826,66:J 16,025,~ ~ • •••••••••••• . • (1J178 to 2,256 m.) •• 1,800.817 1,280,396 1,261,902 1,204,415 l,Sl6,8U 1,866,790 1,888,432 1,345,9'.r. 1,394.,884 l,oi39',05t, 1,841,787 *1,4:36,:365 Mem,hl• & Charle8'on- 1884, ................ ........... (830 m.).. m.).. 1885 ............ . ....... . ...... m.).. 1886 ............................ 1887 ........ . ........ . •..••...•. <330 m.).. (sao csao ,i1::aiikee "i~aiA:'«,8:& wl'!;f.~·>·. 111,010 141,866 115,1~7 156,246 11>1,940 112,881 101,147 106,281 125,875 144,618 111,925 109,252 11s,1n 127,816 124,6L6 96,491 144,018 100,557 98,994 96,287 117,298 120,001 I 101,028 78,844 77,297 118,447 120,547 117,705 105,471 83.816 81,721 84,853 1 95,463 111,964 127,897 101,600 115,136 114,66..'I 95,824 119,375 189,087 122,51a 142,185 110,884 126,24f> 105,195 183,7951 150,961 1'i1S,408 120,680 1so.909 156.499 178.5!9 1 191,023 14.6,224 1w,001 • 129,e10 174 634 1,428,682 158'988 1,339,8'9 rrz:791 1,4.44.688 100,BM l,'M0;5IIO .. 168,t.45 1 ,062,613 153.947 151,016 150,004 i~:~ 160,118 m:~ 145,381 1,784,027 1 1 1g<J:= 1ra:~~ 1~:ii½ 1::~ fgg:m· 1~i:~ 1~:~ HA!:~ 8~:~t 1fi:gro ½~:~I ~:~ ~:ffl 149,188 ::::::::::~=ttri:t: ~:::::::::: 167~ 2.s11,502 160,856 199,032 286,182 2t8.444 251,450 248,140 254,9761 204,700 97,079 100.~ • · ................... (~to MJ m.).. ~:~ ~iri ~~::M rig:~ ~f:g~ ~~::Jg ffl!~ ½~t:m J:M::ffl 1m.::::::::::::::-::":::::::: ·:lii2::L 1~:ffl m~ m:~~ lss,~<> lllilneapoll■ & St. Loull!t- ™:~ 1884............................ (351 m.).. 0 -..,., 151,SOl mt~ m:= 11:::::::'.::::::::::::::::::JHt::L Ji:Hi Ws:! iii~ m:i ½~:gzr nti~ l~:lli ½~:~ l26,88'.a 1888 ..................... . ...... (851 m.).. 86.600 109,2:34 100,161 102.416 • Approximate Ggurea. c:Bmbracin1r oorrectionafound necessary after monthly totals bad been published. i 1nc1uc11na ,1~000 vamo balanaet. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 109,684 • 1~:~~ m:~ 160,192 i!:ili 14!l,340 1 161 •854 l1Z:= ii.! ti! •m,500 1,3-7Uln INVESTORS' SUPPLEMENT. 144 (VOL. XLVIIJ. MONTHLY EAR!l."lNGS OF PRINCIPAL RAILROADS-(Ooncluded). Jo.n. Jloblle & Ohto- I llarcb, April, July. Jnne, May. - - - - - - - - - - - - - - ---Feb. 16l790 126.428 Auir, Nov. Oct, Sept. ------·- Dec. I Toto.I. I 1.J,228 201,681 18.J,1!68 286,015 2U2,2l0 161,28.<l 164,494 167,189 200,499 215,1:19-J uJ.275 190,956 166.152 181f,4fl6 208,f>!SS 149,772 154,407 174,l92 -:.J,774 lir.1,858 15W,v!J5 J93,tlll8 210,408 14i,OS6 108.785 144.505 176,911 1~ 1468 12/.828 109,892 174,SOO 175,6tt8 179,282 1J,606 128.336 155,5a5 204.671 192,779 1J,660 158,045 174,!'!5tt 242,948 181,77ll 211.4150 22a,500 2,-i4,410 26·t,4Kl 261,641 ~882 285.246 254,781 28,'{,234 277,445 ½~L :: ::::: :·.: ::: ::·: :: :·:: j~ ::~:: i~t:::::::::::::::::·.J=tgg~~:~·: 1888 ................ .... (tl27 to 650 m.).. 186,002 184,981:! 210,495 174,911:1 206,819 186,787 188,167 165,881 190,751 167.495 ]61,957 147,700 187,475 165,667 21~,190 182,116 210,586 192,865 203,787 191,1:146 100,001 181,488 270,806 248,885 272,183 271,179 282,tl21 2tll,571 1886b........................... (998 m.) .. 1886 ................. ........ (1,441 m.l .. 1887 .. , .............. 0,441 to 1,447 m.) .. 1888..... . ........... (1,44'i to 1~20 m.) .. J(ew York Lake Erie & west.188i ........................ (1,622 m ) •• 1885 ........................ (1,622 m.) .. lt!BU ....................... ~1,622 m.) .. 188'ia ........................ (1,618 m.) .. JI~~york· &tN·ew 'Eiiiiia.J~~18 m.) .. 2,091.422 :.!,2fl5.005 2,714,711J 2,7ltl,704 l,8!6,324 l,814.8061,972,1115 1,665,!'iM 1,9:\0,194 :.!,S68.M4 2.542.tt2l! 2,66•.245 °2,677,626 2,980,974 l!,001, 7 ,1112.As1,020 2,817,614 2,779,19e 8,:rn:.,821 2,748,7i71'2,824,84-l ~,89tj,216 2,850,191 3,278,771 2,437,668 8,05ti,1548 8,'13fl,G55 8,366,100 2,245,487 8,190,861 8,584 900 8, l 75, ,9tl 2,!l20.981 2,&!5,882 8.20tl,304 2,994,242 2,8J;),1R4 2,Sl45.063 3,lc!29,lJ21 8,000,851 24,4P6,875 12,6-~1,0lG 811.296,024 85,288,584 1,569,568 1,784,68911,861,214 2,104,375 1,451,1188 l.561,7221,737,4581.885,664 1.887.505 1,985,366 2,051.695 2,2311,877 2,066,678 2,131,200 2,180.117512.188,tl67 2,081,058 2,169,944 2,2:.!2,012 2,177,4~11 1,867,857 1,\/80,648 2.234.859 2.309,2•5 2,8!0,:i58 1,708,888 1,912,526 2,048,512 2,188 •.!49 2,072.644 1,570,885 1,872.887 1,885,149 2,0211,\)35 .. .. .. 20,868,800 rn.569,0M 23,002,001 .24,464,286 . ..... 188'................... ........ (384 m.).. . ............. (884 m.).. 'l881i .......................... \884 m.).. 4 248,047 280,420 2&1,1181 252.608 226,096 270,\124 259,471 2U3,934 320,882 281,688 851,611 800,772 806,784 339.965 881,180 254,420 809,748 847.708 ½ll:::::.::::::::::·:::.: ~:.~?c!t:t: ~I:i~i ~!:S~~ !~i:~b 800,794 327,248 379,544 289,050 8,246,719 811,016 8.44$1,464 820,7811 8,956,811 5 1884 ................ . ... ....... (144 m.).. 1885 .. . ............... ......... (144 m.).. 1886 ................... ....... (157 m.).. 1887........................... (157 m.).. 1888 ............ ............... (157 m.).. 64.055 70.66~ 81,650 84,500 1111,527 64,140 68,505 74.1'82 98,8H 116,864 71,7(14 91,09-l 81,,179 112,oaB 100,154 1885 .................. ........ (502 m.).. 1886.................... (511 to 533 m.).. 1887 ............................ (533 m.).. 1888................. ........... (554 m.). 181;4 ...... ................ . .... (502 m.).. 213,020 2211,255 218,907 279,805 ~,801 225,857 lw6,281 221,789 200,3114 850,768 lSM .......................... (828 m.).. lBlm ........................ ... (S2a m.).. 1886 ••• ........................ (823 m.).. 409,846 404.216 400,128 1884............................ (528 m.) •• 188r>. • ........................ (528 m.) .. 1886a........................... (687 m.) •. 1887a•.......................... (687 m.) .. 1888a ......................... (687 m.) .. Ma•hville Chatt. & St. Louts- M. Y. Central &Hud. Riv,- ~:~ ~1:m 1,698,548 2.:'i,7.8:ill 2.4114,831 2,5!!6,488 m:m i1i:~~ J~:~~? ~i:~ 257.133 2a'.!,2tl8 252,7ll7 2,287.252 :.!,759,2~tt 2,1<111,l:!tO 2,8411,609 ~~:~ 2<12,5Si 22~,181 ~:~r ~:m I ~i~:~~ :~:~~ ~.68; 2,160,411 278.889 2,045,951 287,024 2,2:sl,8H9 ·~:~~ ::g~:m 197,512 2,868,682 198,82, 2,184,527 ffl:t~ ~:~:m 285,lt~ 3,1~,280 1,495,541 1,727,484 l,568,5281.4611,012 l,700,2'JI l,741,35tl t.9Hl,4113 l,86,,rn2 l,115..?,824 1,1128,270 1,610,864 1,431,614 1,951,877 2.098.955 2, 1W,95i 275,507 262,102 314,504 :n:~~ 273,702 260,305 803,814 288,5.'31 271,057 814,Jl6 ~i:::i W::&~g 276,217 295,007 345.502 ~t~l tig:~ ~:r~ i~~:W. :~s:i~ 82,278 90.881 87,316 107,171 1L6,S81 86,781 85,294 R7,20<\ 107,7,0 96,471 82,970 90,222 84,057 106,284 113,61:19 97,017 100,600 97,841 118,968 123,~87 105,828 101,853 94,846 lSl,475 146,tl55 95,417 105,3:54 102,xl7 lHl.028 13-0,445 99,059 105,087 101<,8(!8 181,469 186,184 97,275 97,844 107,785 121:1.904 126,600 87,686 86,405 112,545 185,640 ...... 1,084,210 1,092,SM 1,129,440 1,896,18' .. .... 210,298 2-Z0,416 277,307 822.4'.0 416,34:.! 211,522 200,484 267,5511 322,691 S!)tj,:'>J:& 202,486 192,827 285,701 821,><14 4u8,7e8 188,R69 191,767 22d.126 3:, 4.2,10 870,761 185,824 210,476 256,280 834,7114 407,~6 228,408 250,1116 287,407 U85.o.,2 482,9io 270,010 2t17,374 319,225 404,7i.4 4S0,21U 288,495 285,981 334,712 488.s.;1 467,776 2H,810 270,UStl 887,708 4111,211 427,6~6 247,108 2411.428 2fl7,8a7 406,428 *881,6~ 2,711,152 2,771,121 8,252.058 ~:~ 462,564 4,'iS,860 460,147 454,749 450,010 411.3ll7 477,StS 454,017 447,236 416,685 416,219 482,536 477,516 411,728 449,461 510,427 451,870 502,027 476,811 504,754 472,944 519,795 534,011 516,H25 ~::::::::::::::::::::::::::·jfJ~J: lM:~ 898,618 881!,049 43-0,001 474,805 488,594 493,150 642,45-1 t88,1H, 614,108 520,085 978,956 1,441,514 1,287.~5 1,148,123 1,022,488 1,082,602 1,286,560 1,461,511 1885..... .... . J(ew York Susq. & West.- · J(orfolk.&West.- :Northern Central- Jiorthern PacUlc- 1884 ........ ........ (2,449 to 2,458m.).. l,567,1!111,400,394 1,815,4481,871,624 1.581.6<14 1,551.4.Stl l.705.070 l,7f\l,182 I,,18.428 1,t80,-l 77 ~M:8:~ m:g~ ~:i:~ ggt;~t ~:ffl gg;;:~~ ~~;~g ~!;:~ ~5g:~ 1888 ................. (8,277 to S,491:! m.).. 671.42L ?03,607 g1g:m ~:m ~~:~ ~:~~ 1:&~fm }:?88:&M 1.rzA:~~ t~~:g~~ 1:m:~ 1,Wl!,900 rJ~ 525,7~ l,030.67P 1,121,00K 1,11411,..! 8 1,149,102 1,2112,576 l,21Jlf,fH6 1,408,.!lll l,6 i4,881 1,114 •,140 (616 m.).. 1886 ............................ (616 m.).. 1886 .. ........................ (616 m.).. 1887 ......... ................. (616 ::n.). 1888 .. ........... . ............ {616 m.).. 302,145 800,801 Z74,180 295,21P 804,827 281,028 267,879 274,480 8ll,Ot:-< 290,IS78 886,872 341,5\11 305,7511 3M.697 29:.!,9.:0 SM,476 288,1164 270.198 300,294 27U,079 ~Ji1 ::t ~:!Jg ½=:::::::::::::::.::·.:c6b?to(~ 284,ll l8 805,781 1886 .. .................. (686 to 742 m.). ~~:~ ~:WJ ~:lM 480,845 t=:::::::::::::::::}~:~~i:tii~t: 1887................. (2,8ll5 to 8,277 m.).. or~.~.~. .~~~~~~~.~!::-....... Oreiron Railway & !'\av. Uo,- 1887 .................... (742rn752m.) .. 1888 ............................ (752 m.).. 274,Zi>II 272,~98 ~·~~ ·~~·~~~ 4;iM,71H 4,871,8i9 442,200 5,62i.,878 507.61,9 5,490,922 457,bOlf 5,474,616 490.286 6,212,927 . ..... ...... ~~:~ tt:g!~:r>J 283,076 312,904 ~96.918 845.!llll *37t!,218 8,702.~9 8,!l79,615 8,1'127.882 4,128,865 3,l:S4tl,Ol:!O 899.665 12,sw.~2 1,181,778 IH.li:'.>4,820 9Jtj,{)ofl l,t07,17tl l,444,8tl8 J,5a7,281} 1,6LO,l::!7 L,eOS,585 1,6tl5,291 1,711,275 2;, 6U,6l>6 l,81ltl,612 *l,4tSi,o:tO 18,041,201 1 2~0.sw 445,247 420,1'!58 407,1173 457.10:~ 43,.648 558,78d 478,U5:i 312,756 2'i5,4$0 298,085 200,162 29~,70l 257,185 264,201 308,119 2117.9~4 2811.813 282,202 28l,i99 835.431 8l2,692 275,591 ~:~~ !~::~~ 421.881 481,7::15 444,781 ~0,697 4211,121:! 507.&>0 414,874 528,091 853,709 334,818 378,100 409,911 879,185 857,152 841,6 •9 893,261 4"b,054 89t,,602 ~~:~l r~:~ 460,0lll 422,776 56a 211 556,U53 487,246 62i:l,u89 SM.880 27q,oss 801,1161 825,li54 887,828 2lll,588 865,608 867,7-17 418.137 884,378 =:~~ 418,060 629,1172 519,18:.! 653,300 615,04!1 731,719 ui:g~i Ufl,rJ:,a~i~f Pittsburg & Erie)1884 ......... ...... (t2,0a6 to~•~ m.) .. 3,574,283 8,426,738 4,002,627 4,156,SW 4,267,178 8,906,174 8,989,085 4,6!7,894 4.4~,871 4,447,547 11 252,085 4,808.841 4112.450 5,102.788 408,152 5,844,002 5~~·.~~ 5,:37·~·~7 8,950,937 8,769,828 48,1166,911 lS!m ........ ...... (t2,t02 to 2,~ m.) .. 8.277,522 8,075,700 i:l,685,874 8,704,800 8,890,469 8,785.688 8,685,105 8,956,806 4,2,6.628 4,851J,l74 8.1!71,539 4.046,fl82 45,615,027 1886 ............... tt2,250 to 2,8~2 m.) .. 8,421,5:itl 3,5.9,475 3,001,85-; 3,8t12.617 4,178,580 4,386,101 4,856,677 4,585,390 4.674,052 4,787,851 4.347,218 4,428,2rn 50,879,068 U!87.............. . (t2,322 to ~.846 m.) .. :J,851,771 8,1188,788 4,410.488 4,3-t2.834 4,Ml5,040 4,911,85~ 4,115{,370 5,1122,01:& 5,(){)t),5tl- 4.,98\J,521 4,785,154 4,t:!92,1154 55,671,:SOI • ..... 1888 ....................... .. (t2,346 m.) .. 4,1113,979 4 ,3i9,455 4,5~,5. 1 t,650,045 5,027,'i51l 5,0d0,400 4,82.!,412 5,390,9311 5,285,4't6 5,14tl,l57 4,8tl0,852 ...... .Philadelphia & Readinir- 1884 ............................ (040 m.) .. 188.5 .. ....................... (940 m.) 1886 ............................ (1140 m.) .. 1887 ............................ cU40 m.) .. 11!88 . .. .. • .. • . . .. .. .. ... .. . .. .. (9i0 m.) .. JUchmolld & Danvill1884 ............... . .... (757 to 774 m.).. 1885 .......................... (774 m.).. 1886........................... (797 m.) . 1887 .. . ....................... (797 m.).. 1888 ................... . ..... ,7\/7m.) .. Charlotte Col. & A uirusta- 2,486,296 8,224,787 4,150,935 2.871,5411 a.o~.391l a,.iR5,616 :.!,II00,71J6 8,l27,845 3,802,628 a,;:1s1,a ;9 a.60a.ooo -1.0::15.480 S,8:>l,39d 4,2Ja,7e2 4,452,781. 8,490,185 3,53ll,894 8,482,921:! 4,108,tl9-t 8,95:l,4tl5 8,7e5,160 ::l,698,71H 8.61f6,898 -!,106.0011 4,200,63, 250,928 272,27i 286,598 S05,a65 315,1110 293,147 8.22,001 331,0>il:S 858,6511 895,148 887,887 381,172 365,397 48u.58,i 8tl8,771'l 429,179 425,516 425.721 604,817 516,i:ll<l 421,ln4 445,SH; 451,844 8611, 71(, 848.132 840.148 89~.11943U,5t3 8,878, 724 8,1171,629 i,060,225 4.876,881 4,5116,tlSS 88,006 76,349 67,804 "'5.tM5 89,774 77?i,52'7 SOS.LOO 783,444 870,418 9L8, ,6'7 ~:~ 61.~78 88,897 m:= 71,9311 6-15,625 115,614 ]28,27tl 11:i.07:'> 148.783 l4tj,8ol 1,590,098 1.553.509 l.558.89j el,6 2,878 cl,84tl,986 87,24tl 89.575 485. 726 477,990 586,966 tl82.781 2,370.645 8,121,865 2.267.tl51 2,710.120 :.!.5"0.ii58 .!,452,92° a,043,ltm i.~56,4t2 :.!,657,952 3,051,314 3.766,976 2,8:.!5.\/28 2,917,88~ a,t74.-186 8,62:i,2i0 856,129 800,562 892,514 :IB1.a44 882,tltltl 817,181 801,097 820,'iln 304,1114 887,341 2119,829 292,077 28l,114 x0t,,251 88U,7lll 251,819 266,29-t 269,834 ~00.5tH 2115,461 8,339,26R 2.542,16.'- 86,879,664. 8,a15,475 2,IHlt,035 H4,796,86'7 8.921,!'>46 2,1111:1,287 85.60.-1,29'1 4,820,891 ~.289.<nS .U,559,777 • ..... .. .... 8,5111,4114. 871.276 865,\}\18 1~.................. (837 to 878 m.). . 1885........................ (87a m.).. 1886 ....................... (:i78 m.). 1887 ......................... (878 w.).. 1888 . . . .. .. .. ... . . .. ...... (8i8 m.).. 65.876 80.41.14 63.506 6a.5'i6 84,257 82,081 81,w~ 84,ll12 711,630 92,a59 68,282 75.578 82,lf\O itl.Sff(; i;a,002 54,816 52,8~ 53.~2 54,0i,ll 57,470 48,241 46,286 47,877 49 •.-l:&7 58,042 88,299 42,745 44,4dll 50.8a4 49,704 40,879 45.982 49,246 55,223 67,595 48,070 56,259 51,573 60, 70:-l 71,49;; 64,27e 80,080 61.Si,O 86 9 ll 62,15:i 00,758 95,477 91,0-2 109,2:.!8 104,411 84,558 74,i:129 85,ltSl 93,6,5 93,4115 1884 ..... .................... (294 m.).. 56,646 71,92& 59,767 45,728 86,63i 28,HS SC,880 87,879 51,180 98,,l19 82,557 86,tS97 49,001 128,488 181,306 149,896 88,162 76,Qlll '68,050 ';2,740 77,7121 122,715 1811,501 187,087 144.~ 154,512 ~:~ ~:~~ 43,068 :~;~ 1iw,&1:; 152,659 152,351 Columbia & Greenville- t;_ 2.478,77(, 2,198,7l9 t.01.1.170 i,Hi,23\i 2,216,6091.982.1153 2.608 571 2,6 ,ti.277 1,263,068 l,<189,801 . 266,889 833,755 825,tt53 8Hlf,890 278,527 84tl,51:i 827,040 845.412 8i3,79o 8\18,204 :.t ~:~ti !~:m ~:i !Uff it:~ !:~ 11':~~ ll:!l !~:~ !:~ :·:-:·:·:·.-~i : · i!:::::::::·:·:·::·:·:·:·:··:·:· 37,776 85,bS~ f>7,000 69,8211 57,864 1887........ . . ............. (2116 m.).. v1MJ~!~ .~!~~':1~~::-....... (868m.).. 1107,115 109.5911 119.869 180,841 187,362 ½r::::::::::·;::·::::::::.:·::J~i :t: iiJ~t 1~:~ rn~:~ mg:~~ ~g;m :::· ·:J~& ::L ill:~1 ½~Jt~ m:~t m:~ rng;g~i 1=·:::·::·::::::::: We11tern North Carolina~:~ ~:~ ~t~ ~1:ffi ~:m ½=:::::::::.'.'.'.'.'.'.'...~~.~0c~!::~·: 84,574 8~,713 40,683 45 837 42.3-08 ll:!b6. •• • ............. (274 to :100 m.).. t:~ii ~:~ ~:~ln &i::FJ ~:t~ :::::::::::::::.:::J~::Z:t. .. \~.:: 8 688,821 562,93& 42,-127 75,719 170,261'1 167,595 48,794 46,821 41!,ll:!IJ 68,795 Stl,657 42,879 47,l".66 60,866 68,555 55,7l!d 41,513 46,771 62.757 62.8114 61J,tl90 88,689 44.8911 48.2,7 60,535 67,2411 154,8A3 173,675 ltl0,771 173,824 218,461 188,0'28 230,751 195,4.52 241,942 178,223 209,5U8 !t~! ti~~ ½::::::::::::::::.:::::::·::)}~:1: 58,262 ~:~ ~:~~ ~d~ ::! :· ~:~ ~:~ ~:tAi ti:~~ ~:~ ~f.'g gJJ~ ·::::::::::::::::::.<:.8::. l~t 6tl,8-l2 60,762 67,720 62,72d 71,::160 74,780 7!:i,086 1888• .......... ......... (208 to ~4.! m.).. 58,267 60,007 ;2,000 84,700 78,011 62,191 75,300 78,1195 l»,1}75 1:16,133 75,509 Stl,877 88, i7li 10rl,rn6 95,8& 60,854 611,785 80,4i0 \13, llj8 bl,2'.':!7 61.4158 72,2-4 &3,602 89,858 84,5:>l 741,150 766.lJ16 808,1191 902,(80 c924,846 (~.~~c~½g::L ~~}gg ~:~ i~:~ 852,411a ~:~ ~g:~~ rii:ihl :J:!~ fl~:~ :½~:~ ~:::::·::::::::::::::. 18fld..................1.(815 to ll:-lO m.).. 275.31:i 285,544 859,()112 S.)2,2611 354,800 41\l,4fl7 40.\2tl7 460,048 4711,565 5lll.4\J4 Im-:::::.::::.::·::({~\ l~ a~ ::L i~~:Aii :ii:~~ :i~j~~ ::i:2~i ~t~i~ l~~:i~: ~~:~~~ g~;:ii~ t~:~~ :!~:~~ St. Po.ul Minn. & lUanitoba.{IL::::::::: :::::?~2~ t~cf:!JJ ::L ~~:~~ ~:ri~ i~:&tl ~~:~ ti:~ m:~~ gg&:~ m:68~ ~:;:~n&\!:~~ 800,957 4.66,!:i24 451-1,7-lts 6H2,2f\{l 061,840 852.617 872,54~ ti04,041 540.747 IH6,IJ~ 4,649,598 4,888,406 4,874,62'7 6.2211,846 5,785,88:, \~;~!.~-.~~:.~:.1':1:~_l.~.~JA\e;:.).. l&r.1 .......... ............... (:c!fl7 m.J.. 1888P ............ ............ (~67m.).. @t. L. Alton & T, H. Brancbe11- 140,227 154,ltsD lti0,689 135,478 157.4:~SJ 141,704 lSll,521 19:1,732 177,904 , 65 525 IK, Loul11 & San Fro 11c1t1co- 124,891 14-i,8~ 150,707 ~:= 146.9ttt 149,755 147,521 ~:*~ m:= m:~ ~:m 44.028 t~:~1 ½~:z~ t~:~i m:~~i rn~ m:~r~ rrt~ t~:~~ S89,000 42, 165 52,5-ll 6a,osu oos,01, ii~:~ Uit.= 879,440 859.607 810.514 1,169,&ta 9!U,ll0U 819,489 8,814.,19'7 686,8:',0 7.521.188 700.161 7.427.839 905.21\4 8.7::17,234. 851:!,0f>O 9,284,ll21 2.882,656 2,714.02l 2.SJ00.6H 18&7 ::· ...... . ..... (5.-108 to 5.576 m .). 2,503,052 2,2au.641< a.035,814 a.oa~.5~5 x,295,1119 :-i,1151,9-<8 3,:w:➔ .l:!ol a,71tt,:i7~ 8,411,li~a a.Hl2,7!4 8,735,224 1888 . ............... (5,5i6 to 6,11.Sl m.) .. a,2-16,765 a,462,7\il 8,89:!,8110 ~.tlU7,81J.., 8,l:!04.2117 3,7tl,7H 8,739,659 4,151,628 4,0i4.8.l 4,521:!,7.:il 4,170,715 ...... 2,A99.83t 2,7~5871 80.!}78,278 2,lf\14,546 8·~, 1 lU,lM 8,d32,&>i. 81:!,773,1'8 .. ... ...... i:~ ~lMi ij~i~! !~~:~! i;:m i~:i !~:E! ~t~ ~H~ 1.g~:i i!:::::::::::::::::~l:*¥~t[~1Et ..~.~::-:. . ..... 2.780,7~6 2,817,7 7 2,416,271 2.457,341' 2,~26,R6'- 2,978,249 8.087,'ilO . . ... . .. .. .. m.).. -~~~!.~~ 4.600 m.) .. 2,S4 ' ,4f\:, 2,111,M'i 2,275,3:if,. 2,3-!0.c60 :l,5••6,l :'>112,4113,1► 8 :t,5\!2,045 2,~llf\.f>7ll ll."6:_l.1'()~ H.0~4,102 .......... (4,585to(4,585 1685:::::.: ............. (4,!l96 to 4.940 m.) .. t,008.420 2,456,11:17 2,40\1.122 2,5o:s.67a 2,789.22< i.51l1,7.! 2,717,1Ui \:.!.Hll7,611 v.Ofa.URo 2.\1, f>,HI L 1b86 f~bern IJJni!;,:~ .~~~~~ . . 'I (4,256 to 4,476m.) .. 1,53j ,694 J ,M0.7;;i 1,9R5,497 2.1111,520 2,09\1,898 i1789~53 2,8i'5,899 2.417, 710 2,486,827 2 .649,214 1886 ...... .......... (4,476 to 4,51U m.). 1,6,4,\141:1 l,5ttl3.9il• l ,975,f>l 7 l.9~7.191[2,067.52 l,H55,81J6 :t,804.000 2,H31, lafl f,5 LS. 122 ~.r61i.6~7 ~:!~t:~ ~:~:~ ~:~:ffi 1886 ................ (4,5111 to 4.59t m.) .. 1.428,0-..!Qll,R 15, 14] 1,954,l!.08 2.113 ,440 2.211,448 2,26:3,821 2.442,o."K 2.51'17,731 2.517,79d -,,55,1.>4 2,351,431 2,:¾3,543 26,608,791 ......... (4,5\14 to 4,iil w.) . l,737,3531,075,IH-t 2.571.365 2.342.15:'i 2,11:!..,,tr 2,51111,82-< :.!,4'ill,,j72 t .o3tt,51lll :.!.743,\f,-O 2,1134,466 2,597,51'!5 2,248.b72 ~,557,768 1887 .. ••• ...... (4,771 to 4,9t!l m.) .. 1,727,~32 l,lfl7,IJ-i8 ~.5l3,lll8 t,5:19,.!•t:i i.a12,1111 2,~8.'3,l!.68 2,5-ll,064 2,5-,7,:if)(\ 2,tlli7,905 2,1151,.la4 2.036.238 181:iS::::::::.. .. .... * ------------- f Including Jndlanapolla After deductin,r $444,886 charged off by Mr. Adams on a1111umin1r office. + And 66 miles of canal. • Approxlm&te fl.irures. a From October 1st earnlnu ue given after deduottng pro1>0rtlon11 due to b Not Including West Shore. a Includes St. Louis & Cairo. & t, Louie. e Embracing correotions found necessary after montbl;r lea.eed roada operated on a .percentage basis, so as to preserve the comparison with other yea.ra. tot.all nac1 beea:publlsbed https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, INDEX. 1889,] INDEX TO NAMES OF 14:i RAILROA.DS. Wit.b the numerous changes which are constantly ta.king place in the titles of various railroad companies by reason of foreclosures, consolidationH, &c., it frequently occurs that much difficulty may be experienced in looking up the name 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 NAl\IE. WILL NOW BE FOUND UNDER- FORMER NAME. WILL NOW BE FOUND UNDER- Alabama Central .................. EaRt Tenn. Virginia & Georgia. EaRt Line & Red River ..•...•..••... Missouri Kansas & Texas. Albermarle & Ralei!!h ............... Wilmington & Wt-ldon. East Tennessee & Georgia .••...•... East Tenn. Virginia. & Georgia. Alhia Knoxville & Des Moines ...... Chicago Burlingt(m & Quincy. East Tennessee & Virginia. .......... East Tenn .. Virgini8! & Geor~ia. Allegany Uentral . ........... . ....... Lackawanna & P1ttsbm·g. Eastern of Minneeota .......•..••... St. Paul Mmneapolis & Mamtoba. American Dock & Imnrovem't Co ... Central of New Jersey. Ea· tern Shore (Md.I ..••..••..••..••. N. Y. Philadelphia & Norfolk. Androscoggin & Kennebec .......... ~faine Central. Eastor l'i Amboy ..................... Lehig.h Valley. A.slltabnla & Pittsburg .....• . ...... Pit~sl>urg Yuu.n gstown & ~Rh tabula. Elizab vu, City & Norfolk ............ Nortolk Southern. Atchison & Nebraska . ............... Chicago B urlingto~ & Qlll?cy. Elmira State Line .... . ........... . .. Tiog-a. Atchison & Pike's Peak .............. Central Branch 1Jruon :1:"acific.. Elmira Jeff. & Cana.nrlaiirna ....••. Northern Central. Atlantic & Great Western ........... New York Pennsylvarua & Ohio. ERf'anaba. & Lake Superior ...•..••. Ohim:u?n & V'lrthwestern. Atlantic & Gulf ...................... Savannah Florida & Western. Essex ................................ Eastern (Mass.) Atlantic Mississippi & Ohio ........ . Norfo~ & We~tei-n. European & North American ....... Maine Central. Atlautic & Nortbwest ........••..... f'ana ian Pacific . Evansville & Crawfordsville ......•. Evansville & Terre Haute. Augusta & Knoxvil.e ............... Port Royal & Western earolrna. Evansville Henderson & Nashville .. Lonisville & Nashville. Evansville & Richmonn .. ........ Evansville & Terre Haute. Baltimore Shortr-Line ................ Cincinnati Wasb. ~ Baltimore. Evansville Rockford & Eastern ...•• Louisville Evansville & St. Louis Bellefontaine & Indiaua ......• . .... Cleve. Columbu-, Orn. & Ind. Belleville & CarondPlet .....•...•... 81. Lonis Alton & ·. rnre Haute. Fargo & Southern ..............•.... Chio3:go Milwaukee & St. Paul. Belleville & Eldorado .. . .. . .......... St. Louis Altou & Terre Hau·e. Florence El Dorado & W ............ Atchison Topeka & Santa Fe. Belleville & Sou rhern Tilinois .••• St. Louis Altnn & rerre Haute. Florida Central ....................•. Florida Central & Peninsular. Beloit & Madison .................... Chicago & NorthweRtern. Florina Central & Western . ......... Florida Central & Peninsular . .Booneville Bridge .................... l\Iisi;,ouri Kansas & Texas. Florida Railway & .Navigation ...... Florida Central & PeninRufar. Boston Barre & Gardnn . ........... Fitchburg .Flori•la Southern .................... Jacksonville Tampa & Key We&t. Boston Olin Fitch. & New Bed ..... Old Colony. Florina Transit ... . . . . . ... . ..... Florida Central & Pen nsular. Hoston Hartf0rn & £rie ............. New York & NewEngland. Fort Smith & Van Bnren Bridge .... St. L()uis & San Francisco. Boston Hoosac Tum,el ,v WPS e1n .. Fitthburg. F . amin,gltRm & Lowell . . . . .... 0 d Colony. Bo,ton Providenc-e & F sh kill. ...... New You & New E11gland. Fremont Elkhorn & Missouri Val. .. Chicago & Northwes ,ern. Brm1swick & .!.ll.Ja11y ................ Brunswick & W• st,·ru. Hnffalo & Erie ........ . .. . ............ Lake Shore & Michigan Southern .. Galena & Chirago Union ............ Chicago & Northwestern Buffalo New York & Pl.lila«lelphia .. Western ~ew York & Pennsylva1!rn. Georgia Carolina & Northern ....... se::i-board & Roan~ke .. Butt"alo Pittsburg & w .e 1>tnn . ....... WesternNew .York & Pen~sylvarna. Grarnt Haven ..•. . ....... . .. . .... . .•. Chica.go & West M1chH?!\TI. Hurlin,!!t;on & Mis ouri RIV< r ........ Ch!cago Bur~gton & Qu~cy. Grand Rapidi Lansing & Detroit . ... D~t1 oit LansinJ? &. N~rthern. Burlington & Soutllwe.stem ........ Ulncago Burlington & Qumcy. Grand Rapids Newaygo & L. Shore .. Chicago & West Michigan. GranaRiver Valley .................. Michigan Central. Cairo Arkansas & Texas ............. Mis ouri Pacific, St. L. I. M. & ~o. Great Western of 185il ..............Waba h St. Louis & Pacific. Uall'o & Fulton ....................... l\lis ouri Paciftc, St. L. I . M. & So. Green Bay & Minnesota ............. Green Bay Winona & St. Paul. Cairo & St. Louis .. ..•............•. Rt Louis & t •airo. Greenville & Columbia .............. Columbia & Greenville. C»iro & Vincenn<'s ......... . ... : •. Cairo Vincennes & Chicago. Califol'ma & Oregon ................. Cent1:a1 Pacific. Hannibal & Central Missouri ....... Missouri Kansas & Texas. California Southern . . .. . ............ Atclnsou Topeka & Santa Fe. Hannibal & Naples .................. Wabash St. Louis & Pacific. Camden & .A.mboy ... ................. Unite<;J. New J.el'sey. Harlem & Portchester ............... New York New Ha.nm &9Hartford. Canada 0('ntral . .......... . .......... Canadian Pacific. Hastings & Dakota .................. Chicago Milwaukee & St. Pan!. carbond1:1lti & Shd.wneetown ....... St. L •UIS Alton & T«'rre Haute. H e ena & Rerl Mountain . . .....•..... Northern Pacilio. Cayuga Southern .... . .. . ... . ..... 1-hmPva Ithaca & oayr~. Hendnson Bridge Co ........ . ••..... Louisville & Nashville. Ced1:1r Rapids & Cliuton ... . ...... . Burl!ngton Cedar R •P!<ls & N. Holly Wayne & Monroe .............. Flint & Pere .Marquette. Cedar Rapids Iowa £<',dl,. & N. W .... Burlm1'ton Uedar R :tpuls & N. Holyoke & We tfl.eld .......... ..... .. New Haven & Northampton. Ceaar Ra:pids & Mis -ouri 1'.iver . .... Uuicago & Northwestern. Hom;LOn & Great Northern .......... Missouri Kansas & Texas. Cen tral Iowa ...............•..•.... Iowa Centr1:1l. HunRon & River Fall.R ...... ........ Chic. St. Paul Minneap. & Omaha., C.-ntral Wa,himrt,on .. . ............ . N(•r llern Pacific. Humeston & Shenandoah .... . .... . . Chicagri Burlington & Quincy. Cherry Valley Shai-c •n & Alt•1t1?Y .. D .-Jaware & Huilson Canal. Huntinburg Tell City & Cannellton.Louisville Evansville & 8t. Louis. Chicago Clinton DubuQne & Minn . . Ch!C· M. & St. P~ul. _ Chicago & Great Ea tern ............ Ch1r•a.a-o S t,. Lows & Pittsburg. l 'linois Grand Trunk ..........•..... Chicago Burlin~on & Quincy. Chlcaa-o & Illinois River ............. Chicago & Alton. lliinois Midland . . . . . . . . . . • . . • . ..... Terre Haute & .l:'eoria. Chica~o Iowa & Nehraska .......... Chicago & Northwestern. nlinois & Southern Iowa ............ Wabash St. Louis & Pacific. Ctncago Kansa.11 & N..1>ra1>ka ........ Chic~g-o Rock Islaud & Pacific. Til!liana Bloomingtou & West'n ...... Ohio Indiana & Wrstem. Chitairo Kansas & We~te7a .....•... At?h1son Topeka ~ S~nta Fe. [nruanapolis Uin: & .Lafayette ...... C~n. In~anapo~ s . Lorr!-s & Chio. Chic11 go & Michigan Lak• Shore .... U~cago & West Michlg-an. 1 Loms & Chto. [ndianapolis & Cmcmnati ........... Cm. Indianapolis Su. Chicago Milwaukee & .N. W ..•..•... C~cago & Northwestern. Indianapolis Decatur & Springfield.Indianapolis Decatur & Western. Chicago & Mil~a~ee ................ C~cago & Northwest. [nternational & Great Northern .... Missouri Kansas & Texas. Chic; gu & 01110 River .....••....... Cfil:Cago & .No ,thwes1ern. [onia & Lansing ..................... Detroit Lansini & Northern. Chicago & Pacilio .........•......... C111cago :vtilwa.ukee N St. Paul. [owa City & Western ................ BU!'lingto~ Ceaar Rapids & North'n. Chicago Peoria & st. Louis ....... . J,ac:ki:-onvtlle Southeastern. Cow a & Dakota ....................... Chicago Milwaukee & St. Paul. Chicago Rockford & Northern ...•... Chicago & Iowa. [owa Falls & Sioux City ............. Dubuque & Sioux Citr. t..hicago Santa Fe & Californ a. . .••.. At,Jhisou Topeka & Santa Fe. [owa Midland ........................ Chicago & Northwestern. Chicago St. Louis & New Orleans ... Illinois .Central. [owa & Minnesota ................... Chicago Milwaukee & St. P'l.ul. Chic go St. Louis & ~aducall ........ St .. Loms Alton ~~ Terre Haute. [owa Southern & Mli!Rom·i Nort.h .. C!hica!?'O Ronk Island & Paoitl.u. Chicago St. Paul & Mmn ............. C~c. St. Paul Mmn. & Om3:ha. Chicago & Southwesteru ............ Ch}.ca~o Rock Island & Pacitic. J ackson Laning & Sa.ginaw ........ Michigan Central. Chicago & Springfield ................ Illi?o1s Central. James River Valley ................. Northern Pacific. Cukai!O & 'lo mah.... . . . .. ..... Chicago & Northwestern. Jamestown & Frnnklin .............. Lake Shore & Michigan Southern. Uuic11go Wisconsin & Minnesota. ... . Wistoni,in Cent. Uo. .Jersey Shore Pine Creek & Buffalo.Pine Creek. Cinclllilati & .Baltimore . ............. Cincillllati Wash. & Baltimore. Joliet & Chicago ..................... Chicago & Alton. Cintiuna.ti & Chica.Ko Air Line ...... Uhicago St. Louis & Pittstmrg. Junctiou & Breakwater .•...•....... Delaware Maryland & Virginia. Cindnnati & East~rn . . .......... Ohio , Northwe8tern. C..:incinuati Hamilton & Indi.inapo 'is . Cincinnati Hamilton & D.1yt on. Kalamazoo Allegan & Gr. Rapids .. L~ke. Shore & Michigan Southern. Cillcinnati & Indiana ................ Cin. Indianapolis St. Louis & Chic. Kalamazoo & South Haven ....... . .. Michigan Central. CiElcinnati Lafayette & Chicago ..... Cin. Indianapolis St. Louis & Chic. Kalamazoo & Wbite Pigeon ......... Lake Shore & Michigan Southern. l,iucinna.ti Bout hem . .... . . . . . . .. City of C..:incmna1 i. Kansas City & Cameron ............. Hannibal & St. Joseph. Crncinnati Van Wert & Michigan . .. Cincmnati Jackson & Mackinaw. Kansas City & Eastern .............. Missouri Pacific. Cla1ksville & North Carolina. . . .. . Richmond & Da.1 ,vill,·. Kausas City Emporia & S ....... . Atchison Topeka & Santa Fe. Clevelanu Mt. Vemou & Delaware .. Cleveland Akron & Columbus. Kansas City Lawrence.& So ......... Atchison 'I'opeka & Santa Fe. meveland Painesville & Aslltal.mla .. Lake Shore & Michigan Southern. Kansa!I City & Omaha . . . .. .. ....... St. Jo<'leph & Grand Island. Cleveland & Toledo .................. Lake Shore & Michigan Southern. Kansas City St. Jos. & Couucil 8 ... Chicago Burlington & Quincy. Clevel. Tmc11orawas V. & Wlleding Clevehi.nd Lorain & Whee1iug. Kansas City St. Louis & Chic ....... Chicago & Alton. Coeur d'Alt·ne .. ..•............... Northern Pae11ic. Kansas City Southeastnn & Momp.Kani-as Cit.v Fort Scott & M1-mphis. Columbia & An~sta. ... . .....•. Charlotte Columbia & Aui!u -ta. Kansas City& SouthwPstern ... . ... St. Louis & San Francisco Col. Chicago & Inruana Central. .... Chicago St. Louis & P1ttSIJl.lrg. Kanf'ac, I ·tty Sp ,iug:fi.f'ld & ]'11.. mphis .Kansas City Fort Scott. & Memphis. Columbus & Indianapolis Central. .. Chicago St. Loui~ & Pl , 1sl.>ut·6 . Kansas City Topeka & Wcsteru ..... Atchison Topeka & Santa Fe. Columbus & Rome ................... Savaunah & Western. Kansas Mid laud ............... . .. . St. Louis & San Francisco. Uolwubns & •.roledo ..••..•....... .... Col.Hocking- Valley & Toledo. Kaui::as & Mitisour1. ... . .......... . ... KanRas City Fort Scott & Memphis. Columbus & Western .... _... .. . .. Savannah & Westeru. Kansas & Nebraska .................. St. Joseph & Grand Island. ()onnecticut Western . ... . ... . . ... Harttor,i & Uoanecticut WeRtern. Kansas Paci.tic ....................... Union Pacific. conuotton Valley ................... Ulevt>lancl ,'Ir Canton. Ki::igman Pratt & Western ..•....•. l\tchison Topeka, & Santa Fe. Consolidated Vermont ........ . ..... . Central of Vermont. Knoxville & Ohio .................... East Tennessee Virginia & Georgia., Corpus Christi San D. & Rio G ..•. . Mt'xican Narional. . Lafayette Blooming-ton & Muncie .. Lake Erie & Western. Covington & Lexington ............. Kentucky Central. Lake Erie -Wabash & St. Louis ..•.... Wabash St. Louis & Paci.fl.c. Cowley Sumner & For~ Smith .... . . Atchison Topeka. & Santa Fe. uurrent River .••...•..•.......•.... Kansas City Fort ._ cott & Memphis. Lancaster & Reading ..•.....• ••• . .•. Reading & Columbia. Lawrence ................... . ....... Pittsburg Youngstown & Ashtabula. Dakota. Central ............•......... Chicago & No. West. Leavenworth Atchison & N'west .... Missouri Pacific. Dakota. & Gr eat Southern .••....... . Chicago Milwaukee & St Paul. Leavenworth Lawrence & Galv .. •. . Atchison Topeka & Santa Fe. Da11ville & Grape Creek ... . .•....... Chic. & East Illinois. Leavenworth Topeka & Southwest . . Atchison Topeka & Santa Fe. Danville Olney & Ohio l.{iver ....... Chtcago & Ohi., River. Leeds & Farming-ton .... ......•...... Maine Central. Danville & Vincennes ..........•.... Chicago & East. Illinois. Lehigh & Wilkesbarre Coal Co, .•... Central of New Jersey. Davenport & Northwest ............. Chicago Milwaukee & St. Paul. Leroy & Caney Valley .••...•••...••• Missouri P ,tcitl.c. Dayton & Ironton ................... Dayton Fort Wayne & Chicago. Lexington & Southern ...•........... Missouri Pacific. Decatur & East St. Louis ..... ....... Wabash St. Louis & Paciftc. Lincoln & Northwestern .•..•....•. Cllicago Burlington & Quincy. Denver Memphis & Atlantic .••..... Misrnuri P11cifio. Litchfield Carrollton & Western .... Jacksonville Southeastern. Denver & New Orleans ..••..••..... Denver Texas & Gull. Little Rook Junction .••...•...•..... Missouri Pacific. Denver Pacific ...................... . Union Pacific. Little Rock & Fort Smith ......•...•. Missouri Pacific. Denver Western & Pacific .......... Union Pacilio. Long Dock Company ......•......... New York Lake Erie & West,ern, Des Moines & Minneapolis .......... Chicago & No. Western. Louisiana & Missouri River .......•. Chicago & Alton. Detroit & Bay City .................. Michigan Central. Louisville Cincinnati & Lexington .. Louisville & Nashville. Detroit M<\okinac & Marquette ..... Duluth South Sil ore & Atlantic. Louisville N. Albany & St. Louis .••. Louisville Evansville & St. Louis. Detroit & Milwaukee .........•...... Detroit Grand Haven & Milwaukee. Louisville & St. Louis •••..•...••.••• Ja,:ksonviUe Southeastern. Detroit Monroe & Toledo ..•..•....•. Lake Shore & Michigan Southern. Lowell & Lawrence .•••.•••...•.••.. Boston & Lowell Dexter & Newport .........••..••.... Maine Central. Dix.on Peoria & Hannibal ........... Chicago Burlington & Quincy. Macon & Augusta. . .••..••.•••..•.... Georgia RR. & Banking Co. Dubuque Southwestern ............. Chicago Milwaukee & St. Paul. Macon & Western .......•........... Central Railroad & Bank. Co., Ga. Duck River ..•......••..••..••.•..... Nashvilfo Chattanooga & St. Louis. Mahoning Coal . .•...•. .. •....•....••. Lake Shore & Michigan Southern. Duluth & Manitoba •• . .....•••.•.... Northern Pacific. Manitoba & Southw. Colonizaraon ... Canadian Pacific. Duluth Short Line .••...........•... St. Paul & Duluth. Marietta & Cincinnati ..••.••...••..• Cincinnati Wash. & Baltimore. ( ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis e INVESTORS' 146 FORMER NAME. SUPPLEMENT. FOR.MER NAME. WILL NOW BE FOUND UNDER- Mari etta Mineral. ............•...•... Marietta Columbus & 1!'lortheru. Marietta Pittsburg & Cleve ......... Cleveland & Marietta. . .••........••...•. Chioago & Northwestern. Maple River . .. M!lirion & Mc-Pherson .••...•......... Atohi on Tnpeka & Santa Fe. Mii.rquette & Western ..•...•..••..•.. Marquette Hougton & Ontonag;on. l\faRsachusetts Central ......•.. ·...... Central Massaohusetts. Mas. awippi .................. . .•..... Conneotiout & Passumpsio. 1\Taysville & Lexington . ... . ..•..•• Kentucky Central. Memphis Kansas & Colo"ado .••..... Kans -i S City Fort Soott & Memp ·1is. i\Teruphis & Ohio . .................... Louisville & Nashville. Memphis Paducah & Northern .•••. Chesapeake Ohio & Southwestern. Menominee River ......•.......•...•. Chioago & Northwestern. l\f etropolitan Elevated .••...•..••... Manhattan Elevated. LVOL. XL~III. WILL NOW BE FOU D TJNDEB.- Republioan Valley ..........•...•... ChicaaoBurlington & Quincy. Rich Hill . ....... .................•... Kansas City Fort Soott & Memphis. Richmond York Riv. & Ches~.pealre.Richmond & Danville. Roell.ester & Pittsburg ...•..... . ..... Buff"alo Rochester & Pittsburg. St. Joseph & Iowa .•• .••...••...••.. Chio. Rook Island & Pacilio. St. .Jose_ph & Paoifi.o ..•.......•..••.. St.Joseph & Grand Island. St. Joseph & Western . ... . .....•. . .•. St. Joseph & Grand Island. St. Louis Council Bluffs & Oma.ha. ... Wabash Western. St. Louis Iron Mount'n & Southern.Missouri Paoifl.o. St. Louis Jaoksonville & Chioago ..•. Chioago & Alton. St Louis Kansas & Arizona .......•. Missouri Paoifl.o. St. Louis Kansas City & Northern ... Wabash Western. Michi1w,n Air.T,tne ••••••••••••.•••••. Mll'hlQ'B.n f'f\ntr11,l. St. Louis KansaR & Southwestern ... St. L()uis & San Franoisco. Michigan & Ohio ......•. . .....•..... Cincinnati Jackson & Maokinaw. St. Louis & Lexington ..•....•....... Missouri Paoifl.c. l\fiohigan So. & North'n Indiana ..... Lake Shore & M.1oil.igan Southern. St. Louis Rook Tsland & C ...•....... Chioago Burlington & Quincy. Midland of New Jersey .••..•••..•.. N. Y. Susquehanna & W, st<:Jrn. St. Louis Salem & A..l'kansas .••...•. St. Louis & Sm Franoisoo. Milwaukee & Madison ...•...•....... Cbioag-o & Nort-bwestern. St. Lonis Salem & Little Rook ....•. (St. L. Salem & Ark.) St. L.& S.Fran. Milwaukee & Western ..........•.... Chioago Milwaukee & St. Paul. St. Louis & Southeastern .....••..... Louisville & Nashville. St. Louis Southern ......•............ St. Louis Alton & Terre Haute." Minneapolis & Duluth .••...•........ Minneapolis & 8t. Loui . Minneapolis Eastf'rn ..•...•...•..•.. (JhioaJ?o tit. P,1111 Minn. & Omaha. St. Louis Wiohita & Western ..•..••. St. Louis & San Francisco. Minneapolis & Paciflo ......• . ....... l\finneap. St. P. & Sault Ste. Marie. St. Paul & Chicago .... . ........••... Chicago Milwaukee & St. Paul. Marie. Ste. Sault & P. Flt. Minneap. Atl'tio & Minneap. Sault Ste. Marie St. Paul Eastern Grank Trunk ...... Milwaukee Lake Sh. & Western. Minneapolis Union ..........•....... St Paul Minneapolis & Manitoba. St. Paul & Paortic ..............•..... St. Paul MiI\D.eapolis & Manitoba St. Paul & Sioux City . .........•..... Chio. St. Paul Minn. & Omaha. Milmesota Central ..•.......•........ Chlcago Milwaukee & St. Pan, St. Paul Stillwater & T. F ......•.... Chio. St. Paul Minn. & Omaha.. l\finnPsota & Northwestn-n . ..•... . Cl1ii-ago St. Pa.111 & KaJJsas City, Banda.sky & Cleveland .....••...•.... Cincinnati Sandusky & Cleveland. Minnesota St. Croix & Wisconsin ... Wisconsin Central. Sandusky City & Indiana ............ Cincinnati Sandusky & Cleveland. Minnesota Valley .................... f'l1i<'avo & Nortl,western. Sandusky Dayton & Cinoinnati . .... Cinoinnati Sandusky & Cleveland. Missisquoi Valley ...........•....... Central Vermont. l\fissi sippi Central .................. (Chic. St. L. N. 0.) Illinois Central. Sau Francisco Oakland & Alameda.. Central Pacific. Mia issippl River Bridµ-e........ . Cbicago & Alton. San Joaquin Valley .•..••....... ..•. Central Paoitio. Mi ouri River Fort Soott & Gulf ... Kansas City Fort Soott & Memr,his. San Pablo & Tulare . ... . ....••...•... Northern (California) Savannah Albany & Gulf ..•...•..••. Savannah Florida & Western. Missouri River RR .....••............ Mi souri Paoiflo. Savannah & Charleston . ..........•. Charleston & Savannah. Missouri & Western ... ....•......... St. LouiR & Sirn Fr:tnoisco. Sobeneotady & Duan ·sllurJ? . .•..•.. Delaware & H dson. Montgom, ry & Florida ..•........... Nor! hwest & Flo Iida. Sedalia W~rsaw & Southern . •....•. Missouri Paoitlo. Montana Central .........•...•. .... St.Paul Minneapolis & MR,nitoba. Short CreE>k & Joplin .•••.. . .•.....•• Kansas Cit, Fort Scott & '\lemphis. l\lontolair . ........................... New York & Greenwood Lake. Chioagn. & St.Louis ........... . . . Sioux City & Dakot a ..•...•...••...•. Chlcago Milwaukee & 'It. Paul. Mt. Olive Coal . . 81011x City & Pauiflc ......••..•...••. Chicago & Northwestern. Muskegon Grand Rtit_vid,1 & Indiana . Graud Rapids & lndiana. Stoux City & St. Paul . .............•. Chio. St. Paul Minn. & Omaha. R,nithtown & Port Jefferson ..•...•. Long Island. Nal'lhua & Lowell .............••...•. Boston & LowPll. Sodus B ay & Southern ..•......•...•. Elm1ra & Lake Ontario. N aahua & Roohester ................. Woroester Nashua & Roohester. ~onora ..•...•...•..... . .•.........•• Atchison Topeka & Santa Fe. N~shv1lle Florenoe & Sheffield .•.•.• Nashville 'ha.ttano-, ~a. & St. Louis. Suuth Georgia & Florida .•••..•...•• Savannah Florida & Western. Nebraska ......•........•............. Chira.!w Burlin~ton & Quinoy. So 11th Paoiflo (Mo.} ....•.••.. ; ....... St. Louis & San Franoi:Eoo. Newark & New York ...........•..... Central of New .Jersey. South Side (L. I.} ..••..•...••.••...•. Brooklyn & Montauk. New RedfordRailroad .•........•.... Old Colony. So11th Side (Va.) .. . . . . . . . . . . • . . . . . Norfolk & Western. Newburg & New York .• . ....•... Nt1w York Lake Erie & Wi>stP.rn. soutbeasrern & St. LouiR ......•...•. Louisville & Nashville. New Castle & C11enango Valley ..... New York 1-'ennsylvania & Ohio. New Jersey Midlawt . ................ New York Susquehanna & Western Southern Georgia & Florida ......... Savannah Florida & Western. Southern Kansas .................•. Atohlson Topeka & Santa Fe. New Mexico & So. Pacifio ........... Atchison Topeka & Santa Fe. Sour hern Kansas in Texas .........•. Atchison Topeka & Santa Fe. New Orleans JaokAon & G. N ........ (Chio.St. L. N. 0.) Illiuo is Otntral. Southern Kansas & Western ......... A.to tiison Topeka & Santa Fe· New Orleans & Mobile ............... Louisville & Nashville. Southern Minnasota .....•..••....•.. Chi4lago Milwaukee & St. Paul. New Orleans Paoitio .....•........... Texas & Pacifl.e. Southern Pennsylvania .............. Cumoerland Valley. Newport & Riohford ................. ConDeoricnt & Passumpsio. Spartanburg & Asheville ............ Asheville & Spartansburg. Ne.wtown & Flushing ................ Long Island. Spokane & Palouse .......•.......•... Northern Paoitl.o. New York Elevawd .................. Manhar,tan Elevated. Beach. Ma.11hat. Stanstead S. & Uhambly ..••...•..... Central of Vermont. Brooklyn& Y. N. New York & ManhattanBeaoh ...... Sterling Mountain RR ••..•........ Sterling Iron & R'y Co. (see Misoel's) New York & Oswego Midland ....... New York Ontario & Western. Steubenville & Indiana .••........... Pittsburg Cin. & St. Louis. New York & Rookaway .............. Long Island. Sumner County. ... • • . . . . ••.•••..•. Atchison Topeka & Santa Fe. N. Y. Woodhav.. n & Rookaway .••. N. Y. & Rocll:awav B eaoh. . Sunbury & Erie .•••.••..••...•.••••. Philadelphia, & Erie. Niles & New Lisbon .............••... Cleveland & Mahoning Valley. Nodaway VaUey ......•.............. Chioa~o Burliogtou & Quinoy. Norfolk & Petersburg ................ Norfour & Western. Ta.vlor's Falls & Lake Superior. ..•. St. Paul & Duluth. Northern Illinois ... . ...•..••......... Chica!!:o ~ Northwestern. Ta1:kio Valley ..•..••........•.••..••. Chicago Burlington & Quinoy. North Missouri. ....•................. Wabash Western. Tebo & Neosho ..••..........•...•... Missouri Kan as & Texas. North Wisoonsm ..................•.. Chio.St. Paul Minn. & Omaha. Terre Haute & Southeastern .••...•• Evan,wille & Indianapolis. North Pm (Jentral (Mich.) .••......•. Lake Shore & Miohi~an Southern. Texas Mexican . . . ...............••. Mexioan National. Northern Cross ...................... Chioago Burlington & Quinoy. Te~aa & St. Louis .... .... . ........... St. Louis Arka.ns!l.8 & Texas. Nor. Paoiflo La Moure & Mo. Riv ... Northern Pacific. T-iledo Ann Aroor & Cadillao ....••. Toledo Ann Arbor & North Mieh. Northern Paoifl.o & Montana .....••. Northern Paoifio. To edo Ann Arbor & Grand Trunk .. Toledo Ann Arbor & North 1\-lioh. Northwestern Grand Trunk ..•.•.••. Chioago & Grand Trunk. Toledo Ann Arbor & Mt. Pleasant .. Toledo Ann Arbor & North Mich. 1 Danville. & Riohmond ..•.... Carolina North Northwestern Toledo Cinoinnat1 & bt. Louis ....... Toledo St. Louis & Kan as City. Northwestern Union ..........•...... Chioago & Northwestern. Toledo Delphos & Burlington ..••... Toledo St. Louis & Kansas City. Ohio. & Northwest Virginia ...........•...... Baltimore Toledo & Illinois ..•...•..•••..•...... Wabash St. Louis & Paoi.tl.c. Toledo Logansport & Burlington ...• Cbioa~o St. Louis & Pittsburg. Central. Ohio Central .....••...•..••...•..••.. Toledo & Ohio Toledo Peoria & Warsaw ..••..•..••. Wabasn Western. Ohio & West Virginia ..........••.... Col. Hooking Valley & Toledo. Toledo & Wabash ...•...•........•... Wabash St. Louis & Paoiflo. Omaha & Southwestern ............. Chicago Burlington & Quinoy. Troy & Boston . •••.•••••.......•...•. Fitonburg. Orange & Alexandria .•.............. Virginia Midland. Ottawa & Burlington ......•..•....• . Atohison Topeka. & Santa Fe. Union . . ......•......••......•....•. Northern Central. Ottawa Oswego & Fox River ......•. Chioago Burlinirton & Qmnoy. Union Elevated ..•...••..•........... Brooklyn Elevated. O1tumwa Cedar Falls & St. Paul .••. Chioago & Northwestern. , Union & Logansport ..........•..••. Chio. St. Louis & Pittsburg. Oxford & Clarksville .••..•• . .••..••. Riohmond & Danvillti. Utah Southern ....................... Utah Central. Paoiflo of Missouri ..........•....... Missouri Paoifl.o. Paduoah & Elizabethtown ...•....... Chesapeake Ohio & SouthwestArn. VPnice & Cf!rondolet .....••......... Illinois & St Vmis. l'aines ville & Youngstown .•....... Pi rtsburg Painesville & Fairport. Verdigris Val. In<lepend'oe & Wt!st.Mtssoud Paci.tic. Paris ~ Deoatur..............••...•. Terre Haute & Peoria. Vernon Greensburg & Rushville .... Cincinnati Cndianap. St. L. & Chic. Pekin Linooln & Dec:ttur ........... Peoria Deoatur & Evansville. Penrnsula.r of Florida .•..•..... . .... Flarida Railway & Navigation. Waoo & Northwestern ..•.......... Houston & Texas Central. Peninsular (Mioh.} .................. Chioago & Northwestern. Warren & Franklin ..•...•....•...• . Western New Y lJrk & Pennsylvania. Penokee ....... ....... . .• . ......•...• Wisoonsin Central. Warwiok Valley ...........•...•..... Lehi~h & Hudson River. P.-nl'lacola & Atlanti<l .............•• Louisville & Nashville. Washington City Va. Mid. & Gt 80 .. Virgmia Midlaad. Peoria Pekin & Jacksonville ......•. Wabash St. Louis & Paoifl.o. Washingtnn Ohio & Western .•••..•. Richmond & Danville. Pittsburg Bradford & Buffa.lo ....••. Pittsburg & Western. West Chester & Philadelphia .....•. Philadelphia & BaltimoreCentra.l. Pitts bur~ & Connellsville ......•..... Baltimore & Ohio. Western of Alabama•..•..••..••..••. 'iavannah & Western. Pittsburg & State Line .....••....... Buff. Rochester & Pittsburg. Western Minnesota ..•..••......••... St. Paul & Northern Paoiflc. Pleasant Hill & De Soto ............. Atchison Topeka & Santa .Fe. Western Paoifl.o ......•...•..••..•... Central Pa-0ifi.c. Portland & Kennebeo ................ Maine Central. Western Union Railroad ..•.......•. Chioago Milwaukee & St. Pau.L Port Royal .....................•..... Port Royal & Augusta West Penmiylvania & Shenango .••. Shenango & Allegheny. Prairie du Chien ..................... Chioago Milwaukee & St. Paul. West Wisoonsin................ • •..• Chio. St. Paul Minneap. & Omaha. Pueblo & Arkansas Valley ..•..••..• Atohison Topeka & Santa Fe. Wiohita & Southwestern .•••.••..••. Atohison Topeka & Santa Fe. Wiohita & Western .••....••..•••.••. Atohiaon Topeka & Santa Fe. Quincy Alton & St. Louis ......•.... Chica~o Burlington & Quinoy. Winona & St. Peter... . •..••..••.. Chioago & Northwestern. nincv & Palmyra .•....•..••..••... Hanrubal & St. Joseph. WisconsinMinnesota & Paoifi.o ...••. Minneapolis & St. Lolli& uia.cy & TolE>do .••...•.............. W9!bash St. L?uis & Pao~o. Qwnoy. & Wisoonsin Valley .••••••••••.•••.•• Chicago Milwaukee & St. PauL Burlington Chioago ..•...........•.... 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