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OF THE COMMERCIAL & FINANCIAL CHRONICLE. [Entered according to act of Congress, In the year 1893 by WILLIAM B. D.uu & Co., ln the office of the Llbrart!lll of Con1cres11, Washtne:ton, D. C,] VOL. 56. NEW YORK, JANUARY 28, 1893. RAILROAD DIVIDENDS FOR SEVEN YEARS. In the folJowing extended statement we show the dividents paid in each of the last seven years on all railroad stocks (of steam roads) sold at the ~tock Exchanges in New York, Boston, Philadelphia aad Baltimore. It should be clearly understood that dividends actually paid form the basis of the comparison, and not those declared within the year. Where dividends are declared in one year and pctid in another, they are included in the latter year. For an analysis of the changes in the rate of distribution whicb. occurred during 1892 the reader is referred to our article in the CHRONICLE of December 31, 189t, pages 1098, 1099 and llOO. DIVIDENDS ON R\lLROAD STOCKS. Name of Company. NEW YORK. Alabama Gt. Southern, Class A Do Do ClassB Albany & Susquehanna (leased) Beech Cr~e~ pref .••.......•.... Belleville & 1:10. Ill. (leased),pref. Rost,on & N. Y. A.ir Linfl, prflf .. Buffalo Rochester & Pitts. pref. Canada Southern ..•..••...•..••. Canadian Paolfl.o .....•..••...•. Central of New Jersey..... . .•. Central Paoiftc .•...... . ... .•• ... Central RR & Bk. of Ga ..•.... . Char. Col. & Augusta .......... . Chicago & Alton ............... . Do pref .......... .. Chicago Burlington & Quincy .. Chicago & Eastern Illliiois .••.. Do , pref........... .. Ch:cago Junction Railways, &o Do do do pref. Chicago Milwaukee & St. Paul. Do do pref. Chicago & Northwestern ..•...•. Do do pref ... Chic. Rock Island & Pao .. -..• - . Chlo. St. P. Minn. & Om., pref . . Cincinnati Hamilton& Dayton. Do do pref. Cinn. Indianap. St. Lollis & Chic. Cincinnati N. O. & Texas Pac .. . Cleve. Cin. Chio. & St. Louis .. . Do do pref . Cleve. Col. Cin. & Indianapolis. Cleve. & Pittsh., guar. (leased). Col. Hook. Valley & Tol., pref .. Danbury & Norwalk \leased) .•. Delaware & Hudson Canal ..... Delaware Lack. & Western ..•. Denver & Rio Grande, pref..••. Detroit Bay City & Alpena .••• . Dubuque & Sioux City ..•....••. East Tenn. Va. & Ga., 1st pref. Evansville & Terre Haute .••... Aeorgia (leased) ...•...•......••. Great Northern, pref ......... . Hannibal & St. Joseph, pref ... . Illinois Central .••. .•••.••...•.. Do . Leased line certs .. Iowa Central, pref ....... .. .... . Keokuk & Wt-stern ....... .••••. Lake -Erie & Western, pref...... Lake Shore & Mich. Southern .. f:~~~ng Nasiiviiie::·::::::: Manhattan Elevated ........... . Michigan Central. . ••.....•..••.. Dividend Periods. Jan. and July . Jan, and July May and Nov. April and Oct. Quarterly-Feb, l<'eb. and Aug. Feb. and Aug. Quarterly-Feb. Feb. and Aug. June and Dec. ciiiarter1f-:.\i:ii-: Quarterly-Mar. Quarterly-Mar. Quarteriy.:.:Jan: Jan and July. Jan. and July. April and Oct. April and Oct. June and Dec. uarterl:,-Mar. uarterly-Feb. ~ an. and July. Qua.rle·r1y.:. Mar: 1886. 1887. 7 5 5 4 7 5 4 3 3 634 212 8 8 8 5 7 6 7 7 6 7 5 414 1889. 1890. 6 9 6 7 5 7 7 5 7 7 (b) 6l\ 6~ 4 8·4 4. (bJ 212 3 ½I 5 6 2 8 4; 212 3 2 8 4 8 8 5 6 ...5.. 1888. t 712 3 3 2 8 2 8 8 4 ···s-8 5 ""tf' 6 stock. 412 7 6 7 7 6 6 4 5 7 6 7 4 4 5 4 6 7 4 3 ···4·· ¥ei ··aii«i ..Aug: ···2is 5 7 5 5 7 21g ···9:i (e) 4 5 10 Jan: Quarterly.:.: Quarterly-Jan. ···;·· ···7·· 5 6 7 3lli(a) 4 4 4 4 4 ...6.. """4" 4 5 stock. 5 4 4 7 5 5 3 5 2 7 2 612 7 ···s·· ...s.. 8 8 5 414 . ",iig (d) 7 6 7 3 4 5 4 6 8 6 2 7 6 7 4 619 5 4 3 5 7 ···;·· 7 7 . 5 7 7 5 7 7 7 7 5 7 7 219 (U) 2¾ ··-fi .. 5 11 1 1·93 6 4 1 Quai-"tei1y.:.: Feb: Feb. and Aug . Quarterly- Feb. Feb. and Aug. Quarterly-Jan. F'eb. and Aug. 212 8 4 ...4.. 5 lOlli ···;·· 4 4 5 ···5 .• 7 8·53 ···s·· 21g (gl 3 ···;·· 1892. 112 10 6 ...i¼ ···;·· Quarterly-Mar. Quarterly-Jan. 212 ""if· Feb:· ·anii · ·.iug: Quarterly-Jan. l<'eb. and A11g. Quarterly-Mar. 1891 ------1 -----1-----1------- ~- - - - - ···5·· 4 5 stock. 51g (C) ···4·· 5 4 6(1) 6 (i) ...5.. 2¼ 21g 2 2 7 11 4l\i 6·82 5 4 . "2 .. 4 612 4½1 5 6 5 7 7 3 7 5 7 ···s ·5 212 •' , -···i~ ·1·2 (h) 11 5 ···5-· 4 J· 2 4:\1 619 5 412 6 4 5 4 512 Mil. La.Jte Shore & Western ...•. (f) 7 ···;·· 6 Do do do pref. Feb. and Aug. 7 7 ···;·· Missouri Paolfl.c ...•. . .••.••...•. Quarterly-Jan. 4 4 7 514 ···7 .. 7 7 Morris & Essex (leased) ...••.... .fan. and Jnly. 7 7 7 Nashv. Chattanooga& St. Louis Quarterly- Feb 5 5 4 5 1 414 New London Northern (leased). Quarterly-Jan. 7 7 7 6 7:\1 6111 New York Central & Hudson ... Quarterly-Jan. 4 412 4 4 419 4 514 N. Y. Chicago 41; St. L., 1st pref. 312 3 N. Y.& Harlem incl.4thAv .RR.8&2 8& 219 Common ..•..••..••..••...•.... Jan. and July. 8&2 8& 219 8&2 8 & 212 8&2 8&2 8 & 219 8& 219 Preferred .••..••..••..••..•••.. Jan. and July. 8&2 8&2 8&2 8 & 212 N . Y. La°<'k. & West. (~uai;.) .... Quarterly-Jan. 5 5 5 5 6 5 5 New York Lake E. & w., pref .• 3 ··io·· "10" 10 .N. Y. New Haven & Hartford .. Quarterly.:_: 10 10 10 + N. Y. Prov. & Bost.(Stonin~n) Quarterly- Feb. JO 10 10 10 10 New York Susq. & West., pref .. 114 Norfolk & Southern ............ . 2 " '3"" ""'ii; 3 112& *l'sorip .Norfolk & Western, pret .••..••. April a.nd Oct. 4 l!torthern P.aolfl.c, pref .••..•••.. 4 2 .•. iig ... 4¼ Oregon Improvement Co .....•. 3 3lg 7 · Do do pref. March and Sept. 7 7 ...6.. ... .. 6 -Oregon Rajlway & Nav. Co ••••. Quarterly-Jan. 7 6 6 !PacUic Mall Steamahip •••..••... 1 114 ···g .. ·23 ·• ""5'" 5 !Panama .. ................. ..... . ·16·· ·1s·· 16 .Pennsylvania Coal....... . .•.•. Quarterly- Feb. 16 16 16 Pitts. Cin. Chio. &St.L. pfd . .... 3 (b) In 189.1 stock was made common, and 4 per cent dividends guarantPed by ~ew Yo1k Centrdl t In J~.,.1888, old common stock was PX<.!ha.nged into new pref. (a) With th~ dividend paid Jan. '2, 1892, amount for ye11,r would be 6 pfJr cent. ,(~) &lao 5 per ct. in stock of Iowa. Lano & Loan Co.: alrn assets in trfl88ury. (a) 114 per ct. of this in sorip. (g) These two roads now -eonsoJ.1n,the 0. C.C. & St. I. (h) 5 per cent of this m general mort~a~e bonds. (c) Afl b:i.tt'l_.:p er cent of this in bond scrip. (i) 1lg pflr o"'nt oF thi'l tu hon t soriu. (il 4·9 of this in Rt,ol"k. (frStonk has bnen "'XOhani:;e!J, -01· t~~.or, C~J<¼i go & Northwestern ,!J\t Qek.WJ.s beau ,e:xr.b11,-,1.ged to1· .tbat.o.f tbe N. Y. N. H • .& Ha,:rt;, '°!S.~r.w ii ~c)l. i11to ,5 Jl, c, del>,t. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J°an: ···a·· , ···s .. 212 INVESTORS' SUPPLEMENT. [VOL. LVI. DIVJDENDS ON RAILROAD HTOCKS.-(C0NCLUDED.) Name of. Company. Dividend Periods. 1886. 1887. 1888. 1889. 1891. 1890. 1892. - - - - - - - - - - - - - · l - - - - - - - - - - 1 - - - - - 1 1 - - - -· ----•--I-----.J------1-------1-----7 7 7 7 7 7 7 Pittab.Ft.W.& Chic.,guar.(l'sed) Quarterly-Jan. special . do Do Pittsb. Youngst'n & Ashtabula. pref.. do Do Pullman Palace Car .••..••..••. . Rensselaer & Bara.toga (leased) . Richmond & Danville ......••. .. Bichm'd & West P. Term.. pref. Rio Grande Westf>ro..tpre1. ....•. Rome Watertown & ugdensb'rg St. L. Alton & T. H. (leased), pret St. Louis & Ban Francisco, pref.. do 1st pref. Do St. Paul & Duluth, common .... pref . do Do Bt. Paul Minneap. & Manitoba. Tennessee Coal & Iron ......... . pref.. do Do Terre Haute & Indianapolis ... . Toledo & Ohio Central. .. ...... . pref. do Do Wheeling & Lake Erie, pref ..•. BOSTON. Atchison Topeka & Santa Fe .. Boston & Albany .•••..••..•..... Boston Concord & Mont., pre:r .. Boston & Lowell .............. . Boston & Maine ............... . pref ••••.••. Do Boston & Providence .......... . BostonRevere Beach & Lynn .. Central Branch Union Pacific .. Cheshire, pref ................. . Ch1cago & West Michigan ... .. Cin. Sand. & Cleveland, com ... . pref ....... . Do Concord ....................... . Concord & MontrealClass I. (Bost. Von. & Mon. pf. l Clase If. (Bost. Con. & Mon.) .. Class IV. (Concord stock) ..••. Connecticut River ...•.......•. Connecticut & Passumpslc.pfd. Detroit Lansini;c & Northern .••. pref do Do Eastern, common ............. .. pref. do Do East.ern, N. H. (leased) ......... Eel River (leased). . .•....•...•. European & North American ... Quarterly-Jan. March and Sept. Quarterly-Feb. J"an. and July. Jan. and July. Jan. and July Quarterly- Feb. Quarterly- Feb. April and Oct. Feb. and Au~. Mar. and Sept. Quarterly- Feb. 7 ·--s.. 8 3 21g ···2ig ···1·· ···7·· 6 Jan. and juiy: Feb. and Aul,(. Quarterly- Feb. Quarterly- Jan. Quarterly- Feb. Quarterly- Feb. Quarterly-Mar. May and Nov. Jan. and July. May and Nov. March and Sept. Quarterly-Jan. J"an. and July. Jan. and July. Feb. and Aug. May and Nov. May and Nov. 7 7 ,., 8 8 5 5 ...6.. . ..6.. '"iig 114 7 3 t 7 6 , 5 7 ... .. 6 1 ...6.. Quarterly-Jan. Feb. and .Aug. Feb. and Aug. Feb. and Aug. Mar. June April April and Sept. and Dec. and Oct. and Oct. 7 8 8 6 614 8 & 31 8 stk. 8 5 9¼ 6¼ 10 ...8¼ ·i"o·· 5 6 6 6¼ 10 5 3 6 6 6 10 10 21g 10 514 8 5 7 9 ,fi"o .. 7 ...6.. 2 5 6 10 7 7 2¼ 7 3 7 8 8 8 8 5 10 5 1 ~::~:: 10 3 7 2 ...5¼ ...6¼ 6 6 -· ·s .. ···,f· 6 6 10 5¼ 7 9 ·-io ·• 7 ...6.• 7 6 8 6 2 5 434 2 3¼ 6 10 ·--s·· 7 912 3 (l) 10 5 ...8¼ '"4i; ···5 .. ·--s·· 5 3 7 ···s·· 5 ···gig 4¼ ...6.. 41g 1 4¼ 6 5 2 5 ···s·· 7 8 6 10 7 7 (a) 3 512 6 3 (C) 312 10 5¼ (a) 3-½3 (d) (d) 6 6 6 2 6 8 5 6 3 6 8 5 3¾&fj() stock ···s·· (y) 6 •·io·· 8 7 9 6 (le) ...5¼ 6 7 8 8 6~(~)_;~~i, 4 ...s.. 7 5 ···a¾ ...3.. May and Nov. May· ·aiici ..Nov: 7 ···s .. 8 5 ···s¼ (n) 3 (n) 412 2 5 2 5 ~lg 5 5 t5 ...4.. ...3¼ --·2·· Fito~~urg . Jan. and July. 2 2 ...4i; 12 6 Flint & Pere Marquette, pref. ... Feb. and Au~. 5¼ 312 412 51g 5¼ 5¼ Ft. Wayne & Jack. pref (lea.sedJ Mar. and Sept. 512 5¼ 5¼ 2 2 2 Hartford & Conn. West. (leasedJ .. 6 ... Ho11Satonic, pref ............... . Jan. and July. 3 ···si; ···si; '"3" 1 4 Kans. City Ft. Scott & Memphis Feb. and Aug. 4¼ ··s°r"u) pref. Feb. and Aug. do 4 Do 8 8 8 8 8 6 6 6 6 6 Maine Central. ................ . . Feb. and Aug. 6 712* H) 10 10 10 10 10 Manchester & Lawrence ....... . May and Nov. 10 51g 3 (t) 6 6 Marq. Houghton & Onton.,pref. Feb. and Aug. 3 81g 9 9 9 9 7 9 Nashua & Lowell (leased) ...... . May and Nov. 2 2 2 New ttaven & Derby (leasedL. Jan. and July .. ·7 .. 7 '.'lt:ay and Nov. 7 7 New York&New England,pref 7 7 Quarterly-Jan. 6 & 25 extra ti 6 6 6 Northern (N. H.) .............. . 6 6 8 8 8 Norwich &Woroest'r pfd.(leas'd, .Jan. and July. 8 8 8 8 9•90 (V) Quarterly- Feb. 7 7 7 7 7 7 ~~~t~nl 5 Jan. and July. 5 5 5 5 5 5 6 6 6 6 6 5 6 Portland & Rochester ..•.....•. Jan. and July 6 6 6 6 6 6 6 Portl'nd Saco & Portsm. (lea.sed) Jan. and July. 20(m) 10 10 §12 10 6 10 Providence & Worcester .••..••. Quarterly-Mar. 2 Jan. and July. 1 3 l¼ 4 l¼ l¼ April and Oot. 6 6 6 6 6 6 6 6 Jan. and July. 6 6 6 6 6 6 Vermont Valley .............. . 6 6 6 3 6 6 Wor"P-&ter Na.shna & Roohest-er. Jan. and July. 6 PHIL.&DELPHI.&. (s) (r) (r) December. 5 5 712 Bell's Gap ...................... . 21g 3 5 Camden & Atlantic, pref .....•. ...7.. 7 7 7 7 7 7 Catnwtssa (leased), pref ..... -· May and Nov. 7 7 7 7 7 new pref.......... . May and Nov. Do 7 7 8 8 Delaware & Bound Br'k (lea.sed) Quarterly- Feb. 8 8 8 8 8 6 6 6 6 6 6 6 Ea.st PeDD.8ylva.nia (leased) ...•. J"an. and July. 5 5 5 5 5 5 5 Elmira & Williamsport (leased;. May and Nov. 7 7 7 7 7 pre!...... Jan. and July. 7 · do Do 7 7 7 7 7 7 Harrisb.Portsm.Mt.J.& L. (l'sed) Jan. and July. 7 7 2 4 Huntiruroon & Broad Top ..... . ...5.. ...5.. ···2" 7 pref. Jan. and July. do I>o 512 7 ...4¼ 5 4 5 5 Lehigh Coal & Navigation ..... . June and lJec. 412 512 5 5 5 5 4 Lehigh Valley .................. . Quarterly-Jan. 419 514 7 7 7 7 8 7 Little Schuylkill (lease<}) .••... . .fan. and July. 812 7-½a Minehill & Bchuyl. Hav. (leaa'd1 Jan. and July. 7 7¼ 7 712 712 712 Mar. auol Sept. 5 5 5 5 5 Nesquehoning Valley (leased). 5 5 8 North Pennsylvania (le81!ed) ... guarterly- .l!..,eb. 8 8 8 8 8 8 7 8 7 8 & 10 stock. 8 7 Northern Central ..•..••....... . Jan. a.1..,t July. 8 51g 5 6 5 5 5¼ Pennsylvania Railroad ........ . May and Nov. 6 212 Pennsvlvania & NorthweAtero. Jan. and July. 5 fl¼ 2 Philadelphia & Erie, common .. ·12·· 12 1:.& 12 1~ 12 u Phila. Germant. & Nor. (leased) 10 10 10 10 10 Philadelphia & Trenton (lea.s'd) Quarterly-Jan. 10 10 6 6 7 7 7 Phila. Wilmington & Baltimore J"an. and July. 8 8 5 5 5 5 5 Hohuylklll Valley .............. . Jan. and July. 5 5 10 10 10 10 10 10 10 U!rlted Cos. of N. J. (leased) ... . Quarterly-Jan. 7 7 6 7 6¼ 7 West Jersey ................... .. Mar. and Sept. 6 5 5 4¼ West Jersey & Atlantic . ••..•••. Mar. and Sept. 5 5 B.<I.IJIOKE. 5 6 5 519 6 Atlan. & Char. Air Line (leased) Mar. and Sept. 5 5 20 stock Baltimore & Ohio-Main St-em .. May and Nov. 4 8 334 ...6.. 6 6 do. pref. stocks .... Jan. and July. Do. 6 6 6 6 10 10 10 May and Nov. 10 10 10 do. Wash. Branch Do. 10 6 6 6 6 6 Central Ohio com ............. .. Jan. and July. 6 6 6 do. pref ............ . Jan. and July. Do. 6 6 6 6 6 6 1 1 1 1 West Virginia Cent. & Pittab ... ...6 .. ...6.. ...6.. 6 6 6 WiL Columbia & Augusta .... .. Jan. and July. 6 4 (X) 8 12 Jan. a.nd Jnlv. 8 Wilmin~n & Weldon ........ . 8 8 8 tq) This is made up of one semi•a.nnual dividend of a per ,·ent and three q11arlier1y dividends of 114 per cent. (p) 21g in preferrea stock. t And 15 per cent in common stock. 11 .A.lso 3219 per cent extra out of. amount received from the Old Colony under the provisions of lease. (l) Formerly Eastern preferred. (k) Consol. as Concord & Montreal, which see. (c) From assets. preferred. (a) Cheshire road was comolidated with Fitchburg Oot., 1890, a.nd its stock exchanged for Fitchburg (n) Now exchanged into Bos. & Maine stock. (di Common atook of this road has be..n exchanged ror deve. Cincin. Chic. & St. Louis stock. (t) Common stock changed into preferred this ye11,r, and 3313 per cent Btock dividend pa.Id. <*) Increase due to change of dividend ~eriod. (u) This covers both the August, 1391, dividend 1which had been deferred) and (t) Exchanged into Duluth South Sbore & Atlantic bonds. (y) Consol. as Concord & Montreal, which see. tli"at of February, 1892. (§) Periods changed; 3 per cent semi•annual paid January and 119 quarterly March 31 and 2¼ quarterly June 30, Sept. 30 and Deo. 31. (v) Increase Is due to change of dividend period. (s) 5 per cent declared, payable January 1, 1889, and included in 1889 tl.gures. (r) Consolidated with Clearfield & Jefferson under name of Pennsylvania & Northwestern. (m) 10 per cent of this from assets. 'll:J Dividend for Ja.m1 a.cy, 1892, wae anticipated, and paid in the previous November, making total dividends in 189112 per cent. i,i-ei.'.'.::::.:.:::::::: No: .Adams 'ciease<ii ,:=~ lr:faesacitus•ts 'ciise<ii https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Quar~rly.:....l'tlar: JANUARY, INDEX. 1893.] INDEX TO R.AILRO.AD MORTGAGES. 3 Wabash 1st M. 5s, due May 1, 1939 ... .......... ....•.........V°'1I:j Wabash 2d M. 5s, due Feb. 1, 1939 ........................... 49 PAf¥o 272 ., 3 to 4 per cent, due Oct. 1, 1927..... .... ... ....... 47 W st Shore 1st M. 4s of 1889, due 2361....................... 42 Wisconsin Central Co. & RR. Improv. 5s, due May 1, 1931.. 53 110 176 759 Deb. M. 6s, due July 1, 1939.. .. ...... ....... .... ... ....... 49 273 Abstracts of leading railroad mortgages publi~hed from trme Detroit & Chicago Exten. 1st M. 58, due July 1, 1941... 54 1049 to time in the CHRONICLE are indexed below: WesJ!r~New York & Penn. 1st M. 5s, due Jan. 1, 1937.. .... 47 109 Atchison Topeka & Santa Fe. Old mortgages .............. . New oonsol. M. 4s, due 1989; new incomes, due 1989 ... . 2d Mortgage, due July 1, 198g ........................... . St. Louis & San Fran. oonsol. 4s, due Oct. 1, l990 ....... . Atlantic & Pao. RR. 1st Guar. Trust M. 4s, due Jan. 1, 1937. 1st M . Western div. 6s, due July 1, 1910 ................. . 2d M. Western div. 6s, due Sept. 1, 1907 ................. . Income M. Western div. 6s, due Oct. 1, 1910 ............. . Atl. & Pao. RR. 1 st M. Central div. 6s, due March 1, 1922 .. . Balt. Belt 1st mort. 5s, due 1990 ............................. . Baltimore & Ohio Consol. M. 5s, due Feb. 1, 1988 ........... . Balt. & Ohio Southwestern 1st M. 412s, due J an. 1, 1990 .... . 1st, 2d and 3d income morto-a"'e, due Jan. 1, 1990 .. ..... . Brooklyn Elevated-Un. El. lstM. 6s of 1887, due 1937 ... . Union Elevated 2d M. of 1887, due 1927 ................. . Cambria & Clearfield 1st M 5s, 1891, due 1941. ....•......... -Central RR. & Bk. Co. of Ga. Col. Trus 5s, due May 1, 1937. Consol. Mort. 5s, due April 1, 1937 ....................... . Central RR. Co. of N. J. Gen. M. 5s, due July 1, 1987 ....... . Central Pacific M. 6s, due Oct. 1, 1936 ....................... . Chesapeake & Ohio 1 st M. 6s, due July 1, 1908 .......... .... . 1st M. Peninsula ext. 6s, due Jan. 1, 1911. ... .......... . 1st M. extensions, 6s, due June 1, 1922 .................. : 1st oonsol. M. 5s, due May 1, 1939 .......... ..... ....... . . 1st oonsol. on Rich. & All., due 1989 ..... ..... ..... ...... . 2d oonsol. on Rich. & All., due 1989 ...................... . Chicago Bu.rl. & Q., Nebraska ext. 4s, due May 1, 1927 ..... . Chioa"'O & Erie 1st and income mort~ages, due 1982 ... ....• C. M. &St. P.,lstM., Chio. &L. Sup'rdiv.5s,dueJulyl,1921. 1st M. Chio. & Milwaukee 7s, due Jan. 1, 1903 .......... . 1 st M. Chio. & Mo. River 5s, due July 1, 1926 .. ......... . 1st M. Chio. & Pacific 6s, due Jan. 1, 1910 .............. . 1st M. Chic. & Pacific Western 5s, due Jan. 1, 1921. .... . Consol. Mort. 7s, due July 1, 1905 ....................... . 1st M. Dakota & Great Southern 5s, due J an. 1, 1916 ... . 1st M. Dubuque 6s, due July 1, 1920 ..................... . 1st M. Fargo & Southern 6s, due Jan. 1, 1924 ........... . 1st M .. Hastin~ & Dakota exten. 7s, due Jan. 1910..... . 1st M. Iowa & vakota 7s, due July 1, 1908 .............. . 1st M. Lf!,crosse &.Davenport 5s, due July 1, 1919 ...... . 1st M Mmeral Pomt 5s, due July 1, 1910 ............... . 1st M. River division 7s, due Jan. 1, 1902 ..... .......... . 1st M. Southern Minn. 6s, due Jan. 1, 1910 .............. . Terminal Mort. 5s, due July 1, 1914...................... . 1st M. Western Union 6s, due July 1, 1909 .............. . 1st M. Wisconsin & Minn. 5s, due July 1, 1921 .......... . 1st M. Wisconsin Valley 6s, due July 1, 1920 ............ . General M. 4s of 188~.l due 1989 ................... .... ... . Chicago & Northern Pacinc 1st mort. 5s, due April 1, 1940 . . Lease to Wisconsin Central, dated April 1, 1890 .. ...... . ,C. Rock I. &Pac. l st M.,C. Kan. &Neb. Ry. 6s, dueJulyl,1934 1st M. Extension & Collat. 5s due .fuly 1, 1934 ......... . 1 st M. St. .roseph & Iowa 6s, due July 1, 1935 ........... . 1st M. Wis. Minn. & Pac. 6s, due Oct. 1, 1934............ . 'Cincin. Jackson & Mack'w 1st Con. M. 5s, due Dec. 1, 1936. Clev. Cin. Chic. & St. L.-Collat. trust St. L.Div. 4s, due 1990. Colorado Midland 1st M. 6s, due June 1, 1936 ...........•.•.. Consol mort. 4s, due Feb. 1, 1940 ......................... . Denver & Rio Grande 1st Con. M. 4s, due Jan. 1, 1936 ..... . Improvement M. 5s, due June 1, 1928 ................... . Denver Tramway consol. mort. 6s, due Jan. 1, 1910 ........ . Duluth South Shore & At. 1st M. 5s, due Jan. 1, 1937 ....... . East Tenn. Va. & Ga., Cinn. Extension 5s, due 1940 ....... . Fort Worth & Denver City 1st M. 6s, due Dec. 1, 1921. ..... . •Georgia Car. & North'n 1st M. 5s, due July 1, 1929 ......... . Houston & Texas Central, all new mortgages of 1890 ...... . Iowa Central 1st M. 5s of 1888, due 1938 ................ .... . Kan. City Memphis & Birm. lst M. 5s~ due March 1, 1927 ... . KeRtucky Central 1st M. 4s, due July 1, 1987 ............... . Kings County Elev. 1st M. 5s, due Jan. 1, 1925 .............. . Lake Erie & Western 1st M. 5s, dim Jan. 1, 1937 ...... . ..... . 2d M. 5s, due July 1, 1941. ............................... . Lehigh Valley of New York 1st 412s, due July 1, 1940 ...... . Louisv. Evans. & St. L. 1st Con. M. 5s, due JuJ.y·l, 1939 .... . Louisville & Nashville Unified mort. 4s, due July 1, 1940 .. . Manhattan Elevated oonsol. 4s, due April 1, 1990 ........... . Mexican Central consol. M. 4s, due 1911 and 1939 .......... . M. St. P. & 8. Ste. Marie 1st Cons. M. 5P, due July 1, 1938 .. . 1st M. l\finn. S. Ste. Marie & Atl. 5s, due Jan. 1, 1926 ... . MinneapolisStreetR'y consol. mort. of1890, dueJan.15, 1919 Mo. Kan. & Texas Ry. 1 t M. 4s, due June 1, 1990 .......... . 2d M. 4s due June l 1990 ............................... . Missouri Pacific 1 t Cons. M. 6s, due Nov. 1, 1920 .......... . Mobile & Birmingham 1st M. 5s, due Jan. 1, 1937... . ...... . Mobile & Ohio General M. 4s, due Sept. 1, 1938 . ............ . New York Chicago & St. Louis 1st M. 4s, due Oct. 1, 1937 .. N. Y. Ontario & Western Cons. 1st M. 5s, due June 1, 1939. N. Y. Susquehanna & West. 1st mort. 5s, due Aug. 1, 1940 .. Norfolk & Western 1st M. Clinch Val. 5s, due June 1, 1957. One·hundred-year mortgaae 5s, due Jan. 1, 1990 .... .. . . Maryland & Wash. Div. ls't M. 5s, due Jan. 1, 1941. .... . .Northern Pacific 3d M. 6 , due Dec. 1, 1937 ................. . Duluth & Manitoba 1st M. Dak. Ex.6s, due June 1, 1937. Consol. mortgage of 1890, due 1989 ................... . .. . -Omaha & St. Loms 1st M. 4s, due Jan. 1, 1937 ............... . Oregon Pacific 1st M. 6s, due Oct. l, 1900 . ... ................ . -Oregon Ry. & Navi&:ation Col. Trust 5s, due Sept. 1, 1919 .. . ·Ore"'. Short Line & lTtah No. con. M. 5s, due April 1, 1919 .. ~ollateral Trust5s, due Sept. 1, 1919 ..................... . Peoria & Eastern-O. Ind.& West. 1st M.5s, due Apr.I, 1938. Consol. 1st mortgage 4s, due April 1, 1940 .............. . Income mortgage bonds, due April 1, 1990 . ............. . Philadelphia & Reading general M. 4s, due Jan. 1, 1958 .... . ,, 1st, 2d and 3d Pret. Inc. M. 5s, due Jan. 1, 1958 ........ . Pittsburg & Western 1st M. 4s, due July 1, 1917 ............ . Poughkeepsie Bridge Co. 1st M. 6s, due Aug. 1, 1936 ....... . -Richmond & W. P. Ter. Co. Col. Trust 6s, due Feb. 1, 1897 .. Consol. 1st collateral M. 5s, due March 1, 1914 ......... . ·.R io Grande Southern 1st mortgao-e 5s, due July 1, 1940.... . Rio Grande West. 1st M. 4s, due :t'uly 1, 1939 ............•.... ,st. P. M. & M. 1st M. Mon. ext., 4s, due June 1, 1937 ....... . Pacific Extension 1st mort. 4s, due July 1, 1940 ........ . ·St. Louis & San Frap. oonsol. mort. 4s, due Oct. 1, 1990 .... . Ban Ant. & Aransas Pass 1st M. on ext., 6s, due July 1, 1926. .San Fran. & North Pacific 1st M. 5s, due Jan. 1, 1919 ....... . Savannah & Western 1st Cons. M. 5s, due March 1, 1929 ... . ·Southern Pacific gen. M. 5s of 1888, due 1938 ....•......•.... Texas & Pacific 1st 1\1. 5s, due June 1, 2000 ... ..... ........•. 2d M. 5s, due Dec. 1, 2000 ................................ . Toledo Peoria & Western 1st M. 4s, due July 1, l917 ....... . Toledo St. L. & Kansas City 1st M. 6s, due June 1, 1916 ... . . Union Pacific callat. trust notes, 6s, due Aug. 1, 1894 ......• Uni9nPaeifioDenver&Gulfoon.M. 5s, due Dec. 1, 1939 ... . \.Virginia Midland general M. 5s, due May 1, 1936 ........... . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OL. PAGE. 49 49 55 54 49 49 49 49 49 52 46 51 51 49 49 52 45 51 45 45 45 45 45 49 51 51 45 51 45 45 45 45 45 45 45 45 45 45 45 45 45 45 45 45 45 45 45 48 52 52 47 47 47 47 45 52 45 51 47 47 52 45 52 45 49 52 49 45 45 49 46 54 51 49 51 51 49 47 45 52 51 51 47 45 47 45 49 52 45 50 54 47 45 50 45 49 51 51 51 47 51 51 46 47 45 45 45 49 54 49 45 52 54 45 49 49 49 47 47 45 45 53 51 47 546 857 101 244 302 302 303 304 303 205 804 245 246 583 584 976 242 571 402 241 54 55 55 147 R.AILRO.AD .AND OTHER .J fAPS SUPPLEMENT. IN THE The railroad maps in the SUPPLEMENT and maps of certaill Joal companies' properties may be referred to easily by the index below. These maps are prepared with much care in the CHRONICLE office, and a.re intended to show as clearly as possible the precise location of the various railroads represented and their strategic position in commanding business. MAP. PAGE, Alabama Great South. See E. Tonn. Va. & J-a...... ................... 56 Atlantic & Pacific. See Atchison Topeka & Santa Fe........ 8, 9, 10, 11 Atchison Topeka & Santa Fe .. .......... .. ..... ............... 8, 9, 10, 11 144 B altimore & Ohio .... ................ ................. ................... 14 144 441 Baltimore & Ohio Southwestern. See Baltimore & Ohio ........ . .... 14 911 Buffalo Rochester & Pittsburg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 146 Canada Southern. See New York Central. ........................... 95 85 213 Centralia & Chester......................................... .. .... ...... 24 144 Central Pacific, See Southern Pacific ................................. 135 145 Central Railroad of Georgia...... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 85 213 Central RR. of New Jersey ...... ... . . .................................. 23 144 Chesapeake & Ohio ................................................ : . . . . . 26 212 144 Chicago Burlington & Quincy........... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 114 Chicago & Eastern Illinois......................................... .... 30 114 Chicago Great Western .. ........ ...... ....... . ........................ 32 145 Chicago .Milwaukee & St. Panl. ... .... .................................. 33 85 114 g;'J::~~t~r~.i~~::: ·.:::::: :: :::: ·.::::::::::::::::::::::::::: 212 114 Chicago Rook Island & Pacific ................ .......................... 38 145 Chicago St. Paul & Kamas City. See Chicago & Great Western . ... 32 145 Cincinnati Hamilton & D ayton. . . .. . .. .. . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 830 Cleveland Canton & Southern . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 465 Cleveland Cincinnati Cllicago & St. Louis . ... .. .. ..... ................. « 468 Colorado Fuel & Iron . ..... .. . ................ ....... .. .......... ....... ln3 262 Colorado Midland. See Atelli;;;on Topeka & Santa Fe................. 10 260 Columbus Hocking Valley & Toledo ...... ... . .. . . . ................... 4;6 26] Columbus Shawnee & Hocking . ...................................... 47 261 Delaware & Hudson Canal Co.'~ Lines .......... ....................... 49 574 Delaware Lackawanna & We. tern ................... .................. 51 42 Denver & Rio Grande ......... . ... _........... . . . . . . . . . . . . . . . . . . . . . . . . . 53 540 Dubuque & Sioux City. See Illinois Ceutl'a.L . ....................'..... 66 572 East Shore Terminal.. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 228 East Tennessee Virginia & Georgia. ... ......... ....................... 56 229 354 :~;m:tlT~::!eir1!iu.t~::::::: :: : : :: : : :::::::: :: :::::::::: ::::: :::::: 274 Flint & Pere Marquette................................. . ........... .... 61 83 Galveston HaITisburg & Sau Antonio. See Southern Pacific ......... 135 440 Grand Rapids &Indiana. See PennsylrnniaRR . ..... ....... ......... 111 239 Great Northern ....................... .. . .... ........................... 64 242 Houston & Texas Central.· See Southern Pacific .............. . ... .... 135 582 llllnois Central ................... .... ............ ·....................... 66 575 Kansas City & Independence Ail· Linc .. ...• . .......... : .....•........ 71 372 Kansas City Nevada & Fort Smith . .................. .. ... ............ 69 237 Kansas City Suburban Belt............ .. .............................. 71 45 Kanawha & Michigan. See Toledo & Ohio Central. .. ................. 140 444 ~~l!i~~ ~~: 114 208 Lake Shore & Michigan Southern. See New York Central. .......... 95 613 Lehigh Valley ................. .. . ...... .. . . ..... .................. ~ ..... 76 248 Louisville Evansville & St. Louis. See Evansville & Terre Haute... 59 177 Louisville & Nashville ....................................... }.......... 78 •142 Louisville New Albany & Chicago .............................. ........ 80 243 Louisville St. Louis & Texas......... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82 356 Memphis & Charleston. See East Tennessee Virginia & Georgia.... 56 495 Mexican Central. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84 495 Michigan Central. See New York Central. ........................... 95 287 Minneapolis !:treet Railway (See Twin City Rapid Transit) ...... : ... 162 274 Minneapolis St. Paul & S. Ste. Marie................................... 87 83 Missouri Kansas & Texas.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89 541 Mobile & Ohio........................................................... 91 238 84 ::~~r8irCJe~:::io:gJu~:;~1ru~:r_-_-_-_-_-_-: :::::::: _-_-_-::::::::::::::::: 541 New York Chicago & St. Louis. See New York Central. ............. 95 208 New York Ontario & Western.......................................... 98 204 ~~~r: ~~~~~: ·.102J 22 273 Northern Pacific ...................................................•.... 105 279 Oreg-on Short Line & Utah Northern. See Union Pacifio .... . ......... 143 213 Paffucah Tennessee & Alabama ....................................... 109 240 Pennsylvania ............................................................ 111 243 Peoria Decatur & Evansville. See Evansville & Terre Haute....... 59 242 Philadelphia & Erie. See Pennsylvania Railroad .. .................. 111 243 Philadelphia & Readin~ ................................................ 113 201 Philadelphi!l- ~ead~g &.New England ................................. 115 246 Pittsburg Cmcmnat1 Chica~o & St. Loms ............................. 11ir 247 Plttsbm·g Fort Wayne & Chwago. See Pennsylvania Railroad ...... 111 679 Pittsburg Shenango & Lake Erie ............ ........... .............. .. 119 141·2 Richmond & Danville................................................... 121 439 Rio Grande Southern. See Denver & Rio Grande. . . . . . . . . . . . . . . . . . . . . 53 275 Rio Grande Western .................................................... 124 575 St. Louis Alton & Terre Haute .............................. .. ......... 126 115 St. Louis Cape Girardeau & Fort Smith......•. .................. .. .... 128 163 St. Louis & San Francisco. See Atchison system.. .. .... . . . . . . . . . . . . . . 11 237 St. Paul City. See Twin City Rapid Transit .......................... 162 342 San Antonio & Aransas Pass........................ . ................... 129 82 Savannah Americus & Montgomery .............. ... .................. 131 244 Shenandoah Valley. See Norfolk & Western ...... .. .................. 102 372 Sioux City & Northern ............................ . ..................... 133 241 Southern Pacific Company ........... ·.. •. ..... . ..... .................... 135 240 roledo Ann Arbor & North Michigan .................... . ......... .. .. 137 509 Toledo & Ohio Central.. ................................................ 140 82 Toledo & Ohio Central Extension .....•.. .•............ .. ...... .. ...... 139 82 Toledo St. Louis & Kansas City ........................................ 141 242 Twin City Rapid Transit ............................ ...... ... ....... ... 162 403 Union Paoiflo ...... ...................................... ............... . 143 528 Union Pacific Denver & Gulf . ........ . .................. .... .... ....... 145 244 Virginia Midland. See Richmond & Danville .................. . ....... 121 23 Wisoonsin Central Companies.............................. . ... . . . .. . 150 g~~!fg f; 3i gi t:::~r~t .~. ·. ·.:: ·. ·.:: ·. ·.::::::: ·.:: ·. ·.:: ·. ·.:: ·.::: ·. ·.:::::::·. +? ig : i~~i~::~~.~.~:: _-: ·_-.::: ·. ·.::·.::: ·. ·.·.: ·. ·.·.::·::. ·:. gg INVESTORS' SUPPLEMENT. INDEX TO COMPANIES-CONSOLIDATED, [VOL, LVI. &c. The names of companies not given in the SUPPLEMENT tables in their alphabetical order will be found in the Index below • .Many railroads have lost their original title by foreclosure or consolidation, while others have been practically merged by lease or by purchase of their stock ; the names of such companies are given below, together with the title of the present organization under which their securities may be found. NAME, WILL BE FOUND UNDER- Adirondack & l:lt. Lawrence ....... . . Mohawk & Malone Akrou & Chicago Junction.......... Baltimore & Ohio. AlabaXJa Central.................... East Tenn. Vir~a & Georgia,. Albany Florida & Northern ......... SavannahAmerrnus &Montgomery. Albemarle & Raleigh ................ Wilmington & Weldon. Alley Elevated ............. . ......... Chicago & South Side Rapid Transit. American Dock & Improvement Co .. Central of New Jersey. Americus Preston & Lumpkin ...... Savannah Americus & Montgomery. Ashtabula & Pittsburg. - ............ Pittsburg Youngstown & Ashtabula. Atchison & Nebraska ................ Chicago Burlington & Q.uincy. Atchison & Pike's Peak ........ . .... . Central BranchUnion :f>acifl.c. Atlantic Coast Line ............ . .... Wilmington & Weldon. Atl. C. Line St. John & Ind. River .. Jacksonville Tampa & Key West. Atlantic & Great Western ........... New York Pennsylvania & Ohio. Atlantic & Gulf ................ . ..... Savannah Florida & Western. Atlantic Mississippi & Ohio .......... Norfolk & Western. Atlantic & Northwest ........ .. ...... Canadian Pacific. Atlantic & Pacific ................... See Atchison System. Augusta & Knoxville ................ Port Roval & Western Carolina. Baltimore & Cumberland ........... Western Maryland. Baltimore & Hanover ............... Western Maryland. Baltimore & Harrisburg ............. Western Maryland. Baltimore & New York .............. Baltimore & Ohio. Battle Creek & Sturgis .............. Lake Shore & Michigan Southern. Bay City & Battle Creek............. Michigan Central. Belfast & Moosehead ................ Maine Central. Bellefontaine &lndiana ....... . ..... Clev. Cin. Chic. & St. Louis. Belleville & Carondelet.............. St. Louis Alton & Terre Haute. Belleville &Eldorado ................ St. Louis Alton & Terre Haute. Belleville & Southern Illinois ....... St. Louis Alton & Terre Haute. Bell's Gap ......................... ... Pennsylvania & Northwestern. Belt RR. & Stock Yard .............. Indianapolis Union. Black River & Morristown . . ........ Rome Watertown & Ogdensburg. Birmingham Equipment ............ Kansas City Memn. & :Birmingham. Bluff Point Improvement ... . ....... Delaware & Hudson Canal. Booneville Bridge ........... . ........ l'tfissouri Kansas & Texas. Booneville St. Louis & Southern .... Missouri Pacilio. Boston Barre & G~rdner ............ Fitchburg. Boston Clin. Fitch. & New Bed ..... Old Colony. Boston Concord & Montreal. ........ Concord & Montreal. Boston Hartford & Erie ............. New York & New England. Boston Hoosac Tunnel & Western .. Fitchblll·g. . Boston Providence & Fishkill ....... New York & New England. Boston Winthrop & Shore........... Boston Revere Beach & Lynn. Brooklyn & Montauk ................ Long Island. Brunswick & Chillicothe ............ Wabash. Brunswick & Western .... . .......... Savannah Florida & Western. Buffalo & Erie ........................ Lake Shore & Michigan Southern. Buffalo New York & Philadelphia .. Western New York & Pennsylvania. Burlington & Missouri River ........ Chicago Burlington & Quincy. Busk Tunnel. ........................ Atchison Sys.-Colorado Midland. CJa1ro Arkansas & Texas ............ MissouriPacilic-St. L. I. M. & So. Cairo & St. Louis ................ . ... st. Louis & Cairo. Cairo Short Line ..................... St. Louis Alton & Terre Haute. Cairo .Vincennes & Chicago ......... Cleveland Cin. Chicago & St. Louis. California & Oregon ................. Central Pacific. Camden & Amboy .•................. United New Jersey. Canada Central ...................... Canadian Pacific. Cape Girardeau Southwestern ...... St. L. Cape Girardeau & Fort Smith. Carbondale & Shawneetown ......•. St. Louis Alton & Terre Haute. Cedar Rapids & Clinton ............. Burlington Cedar Rapids & North'n. Cedar Rapids Iowa Falls & N. W- .. Burlington Cedar Rapids & North'n. CedarBapids & Missouri River ..... Chicago & Northwestern. Central Iowa. ........................ Iowa Central. Central Washington .........•....... Northern Pacilio. Charlottesville & Rapidan .......... Virginia Midland. Chattanooga. Rome & Columbus ..•. Sa.vannah & Western. Cheshire ............................. Fitchburg. Chicago & Atlantic .......•.......... Chicago & Erie. Chicago & Calumet Terminal ....... Chicago & Northern Pacilio. Ckicago Clinton Dubuque & Minn .. Chicago Milwaukee & St. Paul. Chicago& Great Eastern ..•.•...... Pittsburg Cin. Chicago & St. Louis. Chicago & Great Western ........... Chicago & Northern Pacific. Chicago & Indiana Coal. ............ Chicago & Eastern Illinois. Chicago Kansas & Nebraska ..... , .. Chicago Rock Island & PacIBc. Chicago & Michigan Lake Shore .... Chicago & West Michigan. Chicago Milwaukee & N. W.......... Chicago & Northwestern. Chicago & Milwaukee .•.............. Chicago & Northwestern. Chicago & North Michigan .......... Chicago & West Michigan. Chicago & PacIBc .................... Chicago Milwaukee & St. Paul. ehlcago Banta Fe & Callfornia ...... Atchison Topeka. & Banta Fe. Chica.go & St. Louis .................. Atchison Topeka & Santa Fe. Chica.go St. Louis & New Orleans ... Illinois Central. Ohicago St. Louis & Paducah ........ St. Louis Alton & Terre Haute. Chicago St. Louis & Pittsburg ....... Pittsb'rg Cincinnati Chicago & St. L. Chicago 1::-t. Paul & Kansas City .••. Chicago Great Western. Chicago St. Paul & Minn ............ Chicago St. Paul Minn. & Omaha. Chicago & Bouthwestern .........•.. Chicas-o Rock Island & Pacilio. Chicago & Springfield ................ Illin01s Central. Chicago & Tomall .................... Chicago &Northwestern. Chica.go Wisconsin & Minnesota .... Wisconsin Central Co. Cincinnati & Baltimore .............. Baltimore & Ohio Southwestern. Cincinnati Hamf'ton & Indianapolis. Cincinnati Hamilton & Dayton. Cincinnati Ind. St. Louis & Chicago.Cleveland Cin. Chic. & St. Louis. Cincinnati Lafayette & Chicago .... Cleveland Cin. Chic. & St. Louis. t,'incinnati Richmond & Chicago .... Pittsb'rg Cincinnati Chicago & St. L. Cincinnati Sandusky & Cleveland .. Cleveland Cin. r.hic. & St. Louis. Cincinnati Southern ................. Cincinnati New Orleans & Tex. Pac. Cincinnati Wabash & Michigan ..... Cleveland Ctn. Chic. & St. Louis. Cincinnati Wash. & Baltimore ...... Baltimore & Ohio Southwestern. Clarksville & North Carolina. ........ Richmond & Danville. Clearfield & Jefferson ................ Pennsylvania & Northwestern. Clearfield Bituminous Coal. ......... Beech Creek. Cleveland & Canton ................ Cleveland Canton & Southern. Cleveland Columbus Cin. & Ind..... Cleveland Cin. Chic. & St. Louis. Cleve!. Tuscarawas V. &Wheeling .. Cleveland Lorain & Wheeling. Coeur d'Alene ......................•. Northern Pacilio. Colorado Central..................... Union Pacilio Denver & Gulf. - Colorado Midland ................... See Atchison "System." Columbia & Augusta ................. Charlotte Columbia & Augusta. Colorado Bridge ..................... Internationru. & Great Northern. Colorado Coal & Iron ................. Colorado Fuel & Iron. Colorado Fuel. ....................... Colorado Fuel & Iron. -<Jolumbus & Hocking Valley ........ Columbus Hocking Valley & Toledo. Columbus & Indianapolis Central.. .Pittsb. Cincinnati Chic. & St. Louis. Columbus & Rome ................... Savannah & Western. Columbus & Toledo .................. Col. Hocking Valley & Toledo. Columbus & Western ................ Savannah & Western. Concord ........... ... ..... . ......... . Concord & Montreal. Connecticut West ern ... . ....... . .... Hartford & Connecticut-West ern. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NAME. WILL BE FOUND UNDER- Consolidated Terminal Railway. .... Kansas City Suburban Belt. Consolidated Vermont .............. . Central of Vermont. Corning Cowanet~que & Antrim ..... Fall Brook. Coshocton & Southern .... . .......... Cleveland Canton & Southern. Covington & Lexington ............ . Kentucky Cent.-Louisville & Nash. Current River ........................ Kansas City Fort Scott & Memphis. Dakota Central ...................... Chicago & Northwestern. Dakota & Great Southern ........... Chicago Milwaukee & St. Paul. Dallas & Waco ....................... Missouri Kansas & Texas. Danbury & Norwalk ......... . ...... New York New Haven & Hartford'. Danville & Grape Creek ............ . Cbicago & East Illinois. Danville & Western .................. Richmond & Danville. Dayton Fort Wayne & Chicago ..... Cincinnati Dayton & Ironton. De Bardeleben ....................... Tenn. Coal & Iron (Misoel. \ Delano Land .................. . ...... Lehigh Valley. Denver Pacific ....................... Union Pacitic. Denver & Rio Grande Western ..... Rio Grande Western. Denver Texe s & Fort Worth ........ Union Pacific Denver & Gulf. Denver Texas & Gulf ................ Union Pacific Denver & Gulf. Des Moines & Minnesota .. .......... Chicago & Northwestern. Detroit & Bay City .................. Michigan Central. Detroit Monroe & Toledo ............ Lake Shore & Michigan Southern. Duck River .......................... Nashville Chattanooga & St. Louis. Duluth & Manitoba .................. Northern PacUic. Duluth Short Line ................... St. Paul & Duluth. Dutchess County .................••. Phila. Reading & New England. East Line & Red River .............. Missouri Kansas & Texas. Eastern of Massachusetts ........... Boston & Maine. Eastern of Minnesota ................ Great Northern. Easton & Amboy .................... Lehigh Valley. ElizabethtownLexing. & Big Sandy.Chesapeake & Obio. Erie ................... . .............. New York Lake Erie & West.em. Escanaba & Lake Superior .......... Chicago & Northwestern. European & North American . ...... Maine Central. Evansville & Crawfordsville ........ Evansville & Terre Haute. Evansville Henderson & Nashville.. Louisville & Nashville. Evansville Rockford & Eastern .... . Louisville Evansville & St. Louis. Far~o & Southern ................... Chfoago Milwaukee & St. Paul. Florida Railway & Navigation...... Florida Central & Peninsular. Florida Southern .................... ..Jacksonville Tampa & Key West. Fort Smith & Van Buren Bridge .... Atchison Sys.-St. Lo. & San Fraz-. Fremont Elkhorn & Missouri Val. .. Chicago & Northwestern. FultonElevated . . .................... Kings County Elevated. Grand Rapids Lansing& Detroit .... DetreitLansing & Northern. Grand Rapids Newaygo & L. Shore.Chicago & West Michigan. Grand River Vall.'.}y.................. Michigan Central. Greenville & Colnmbia .............. Columbia & Greenville. Harlem & Portchester .............. New Yerk New Haven & Hartford, Hastings & Dakota ................. . Chicago Milwaukee & st. Paul. Helena & Red Mountain ............. Northern Pacilio. Hereford .....•...•................... Maine- Central. Holly Wayne & Monroe ............. Flint & Pere Marquette. Holyoke & Westfield ....•............ New Haven & Northampton. Housatonic ........................... New York New Haven & Hartford. Humeston & Shenandoah ........... Chieaga Burlington & Quincy. HuntinburgTell City & Cannellto11.Louisv. Evansv. & St. Louis Consol. Huntington & Big Sandy ..•......... Ohia River. Dllnois Midland............•...•...•. Terre Haute & Peoria.. Illinois & St. Louis ---···.c.:..:· ......... Louisville Evansv. & St. L. Consol Indiana Bloomiugiou ti: western .... Peoria & Eastern. Indiana & Lake Michigan............ Terre Haute & Indianapolis. Indianapolis Cin & Lafayette...•.•.. Cleveland Cin. Obie. & St. Louis. Indianapol18 Decatur & Springfield.. Indlanapolis Decatur & Western. Indianapolis & St. Louis ...........•. Cleveland Cin. Chic. & St. Louis. Ionia & Lansing ..........•.......•.. Detroit Lansing & Northern. Iowa City & Western ..•..........•.. :Burl'ington Cedar Rapids&North'». Iowa & Dakota .•.•..•...•...•....... Chicago, Milwaukee & St. Paul. IOWa Falls & Sioux City.•........... Dubuque & Sioux City. IOWa Midland ..........•.•........... Chicago & Northwestern. IOWa & Minnesota ..••..••........... Chicago Milwaukee & St. Paul Jackson Lansing & Sagina,w......•. Mi0higan Central. Jacksonville Southeastern .••••..•.. Chicag-G> Peoria & St. Louis, Jacksonville Louisville & St. Louis.Chieago Peoria & St. Louis. James RiverValley ..•..••..••....•.. Northern Pacilio. .Jamestown & Franklin..•........... Lake Shore & Michigan Southern. Jefferson Madison & Indianapolis .. Pittsburg Cincinnati Chic. & St. L. Joliet & Chicago ..................... Chiea:go & Alton. Junction & Breakwater.••...•...... Delaware Maryland & Virginia. Kaiama.zoo Allegan & Gr. Rapids .. Lake-Shore & Michigan Southern. Kalamazoo & South Haven .••...... Mic-higan·Central. Kalamazoo & White Pigeon .....••. -Lake Shore & Michigan Southern. Kanawha & Ohio .................... Kanawha & Michigan. Kansas & Arkansas Valley ......... Missouri Pac. (St. L. I. Mt. & So.) Kansas City & Beatrice ............. Kansas City Wyandotte & N. W. Kansas City Fort Scott & Gulf ...... Kansas City Fort Scott & Memphis. Kansas City & Memphis Ry. Bridge.Kansas City Fort Scott & Memphis. Kansas City & Omaha ............... St. Joseph & Grand Island. Kansas City St. Louis & Chicago .... Chicago & Alton. Kansas City Southeastern & Memp.Kansa.s City Fort Scott & Memphis. Kansas City & Southwestern ........ Atchison Sys.-St. L. & San Fran. Kansas City Springfield & Memphis.Kanaas City Fort Scott & Memphi!!. KansasCity Topeka & Western ..... Atchison Topeka & Santa Fe. Kansas Equipment .•................ Kansas City Fort Scott & Memphie. Kansas Midland ...................... Atchisan Sys.-St. L. & San Fran. Kansas & Missouri. .................. Kansas City Fort Scott & Mempbis. Kansas Pacilio .................•..... Union PaQiflc. Keithsburg Bridge .................. Iowa Central. Kentucky Central ...•................ Louisville & Nashville. Knox & Lincoln . .................... Maine Central. Knoxville & Ohio ..............•..... East Tennessee Virgima & Georgia Knoxville Southern ...•.•••......... Marietta & North Georgia. Lackawanna & Southwestern ....... Central N. Y .. & Western. Lackawanna & Susquehanna....... Delaware & Hudson. Lancaster & Reading ................ Reading & Columbia. Lawrence ............................. Pittsburg Youngstown & Ashtabula.. Leeds &Farmington ...........•..... Maine Central. Lehigh & Susquehanna .............. Lehigh Coal & Navigation. Leroy & Caney Valley............... Missouri Paeilic. Lincoln & Northwestern ............. Chicago Burlington & Quincy . Lincoln Park & Charlotte ........... Buffalo Rochester & Pittsburg. Little Rock Junction ................ Missouri Pacific. Little Rock & Fort Smith ............ Missouri Pacific. Long Branch & Sea Shore ........... Central New Jersey. Long Dock Company ................ New York Lake Erie &Western. LOnfs ;Island Ci_ty.& J:'lu~hing ........ Lo~g I sland. Lomsiana & Mi ssouri River ......... Chicago & Alton. I 011isville Cincinnati & Lexington .. Louisville & Nasll.llill-e.. INDEX. JANUARY, 18L3.j NAME. WILL BE FOUND UNDER- NAME. WILL BE FOUND UNDER- Louisville Hardinsburg&Western .. L01;llS';file St. Louis & Texas. Richmond & Alleghany ............. Chesapeake & Ohio. Louisville New Orleans & Texas .... Illmo1s Central. Richmond YorkRiver&Chesapeake.Richmond & Danville. Louisville & St. Louis ... ............. Chicago Peoria & St. Louis. Rochester & Pitt burg ............... Buffalo Rochester & Pittsburg. Lowell & Lawrence .................. Boston & Lowell. Rome & Carrollton ........... . ....... Savannah & Western. naoon & Augusta ................... Georgia RR. & ~anking Co. Saginaw & Western .................. Detroit Lansing & Northern. St. Charles Bridge ................... Wabash. Mahoning Coal ........................ Lake S.hore & ;Michigan Southern. ManitobaSouthwest'n Colomzation. Canadian Paci:flc. St. Joseph & Iowa ................. ... Chicago Rock Island & Pacific. St. Joseph & Western ....... . ........ St. Joseph & Grand Island. Marietta. C9lumbus & Northern ..... Toledo & O~o Central Extens1on. Marietta Mineral. ................... Toledo & Ohio Central Extension. St. Lawrence & Ottawa .............. Canadian Pacific. Maple River ..... .. .. ......... ... .. . .. Chicago & Northwestern. St. Louis Alton & Springfield .....•. St. Louis Chicago & St. Paul. Marquette Hougton & Ontonagon ... Dul~th South Shore & .A.tlantio. St. Lows .Arkansas & Texas ......... St. Louis Southwestern. Maryland Central. .................. Baltimore & LehiJ?h. St. Lo~s Bridge & Tunnel. .......... Terminal .Association of ~t. ~uls Massawippi .. ......... ..• •.. ... ...... Connecticut & Passumpsio. ~~: go~;J~1uirs· & South RR. of IlllilOlS. Maysville & Lexington .............. Kentucky Central.-Louis. & Nash. McKeesport & Bellevernon ......... Pittsb.McKeesport &Youghiogheny St. Louis Iron Mount'n & Southern .. Missouri Pacific System. Memphis Clarksville & Louisville ... Louisville & Nashville. St. Louis Jacksonville & Chicago .... Chicago & Alton. Memphis Equipment . .............. . Kansas City Memphis & Birming'm. St. Louis Kansas City & Northern ... Waba!ISh. Memphis Kansas & Colorado .. ...... Kansas City Fort Scott & Memphis St. Louis Kansas & Southwestern ... .A.tch. System, St. Louis & San Fran. Memphis & Ohio .... ................. Louisville & Nashville. St. Louis Salem & .Arkansas ......... .A.tch. System, St. Louis & San Fran Merchants' Bridge ................... St. Louis Merch'ts' Bridge Ter. RR. St. Louis & San Francisco ........... See .Atchison" System." Menominee River ........ .... ........ Chicago & Northwestern. St. Louis Southern.................... St. Louis Alton & Terre Haute. Metropolitan Elevated .............. Manhattan Elevated. St. Louis Wichita & Western ........ .A.tch. System, St. Louis & San Fran. Metropolitan Ferry ....... . .......... Long I land. St. Paul Eastern Grand Trunk ...... Milwaukee Lake Shore & Western.. Michigan Air Line ........ ..... ...... Michigan Central. St. Paul Minneapolis & Manitoba .. Great Northern. Michigan & Ohio .... . ................ Cincinnati Jackson & Mackinaw. St. Paul & Pacifl.o ..................... Great Northern. Midland of Indiana ... . ....... ..... ... Chicago and Southeastern. St. Paul & Sioux City ............. ... Chic. St. Paul Minn. & Omaha. ~dland of New J~rsey .............. Ne~ York Susquehanna & Western. St. Paul Stillwater & T. F ........... Chic. St. Paul Minn. & Omaha. Milwaukee & Madison ..... ... .. ..... Chioago & Northwestern. Sandusky Dayton & Cincinnati.. ... Cincinnati Sandusky & Clevelantll Salem & Lowell ...... ... . . ........... Boston & Albany. Milwaukee & Northern ...... ........ Chicago Milwaukee & St. Paul. Minneapolis & Duluth ............... Minneapolis & St. Louis. Sanford & Lake Eustis .............. Jacksonville Tampa & Key West, Minneapolis & Paoifio ............... Minneap. St. P. & Sault Ste. Marie. San Joaquin Valley .................. Central Paoifl.c. Minneap. Sault Ste. Marie & .A.tl'tic.Minneap. St. P. & Sault Ste. Marie. San Pablo & Tulare ....... . . .. ....... Northern (California). :Minneapolis Union .. ........... ... .. . Great Northern. Sandusky & Columbus Short Line .. Columbus Shawnee & Hooking. Minnesota Central. .................. Chicago Milwaukee & St. Paul. Sault St. Marie & Southwestern ..... Chic. St. P. Minneapolis & Omalw1 Minnesota & Northwestern .......... Chicago Great Western. Savannah & .Atlantic ............... Central of Georgia. Minnesota St. Croix & Wisconsin ... Wisconsin Central Company. Savannah Albany & Gulf ............ Savannah Florida & Western. Minnesota Valley . .......... ......... Chicago & Northwestern. Savannah & Charleston .............. Charleston & Savannah. Schenectady & Duane burg ..... ... . Delaware & Hudson. ~SS!squoi. V ~lley .................... Ce~tral Vermont. Miss1ss1:pp1 River Bridge ............ Chicago & Alton. Schuylkill River East Side.......... . Baltimore & Ohio. Scioto Valley & New England .... ..• Norfolk & Western. Missou.riKansas & E astern .......... Missouri Kansas & Texas. Missouri Valley & Blair RR. Bridge.Chicago & Northwestern. Seaboard Air Line ................... Seaboard & Roanoke. Missouri & Western .................. .Atchison System-St. L. & S. Fran. Seattle & Northern ............ ..•... . Oregon Improvement. Monongahela.River .................. Baltimore & Ohio. Shawnee & Muskingum RR ........ . Columbus Shawnee & Hocking. 'Montana Central. .................. .. Great Northern. Sheffield & Birmingham.... .. .. ..... . Birmingham Sheffield & Tenn.Rivel'. Morris Canal. ....................... :Lehigh Valley RR. Shenandoah Valley ........ .. ........ Norfolk & Western. Muskegon Grand Rapids & Indiana.Grand Rapids & Indiana. Sherman Denison & Dallas ........ Missouri Kansas & Texas. Short Creek & Jo:plin ................ Kansas City Fort Scott & Memphis. Nashua & Lowell .................... Boston & Lowell. Sioux City & Pacific ........... .... .. Chicago & Northwestern. Nashua & Rochester ................. Worcester Nashua & Roches tor. Shreveport & Houston ............•. Houston & Shreveport. Nebraska .... ....... .................. Chicago Burlington & Quincy. clmithtown & Port Jefferson..... .... Long Island. Nebraska&Western ................. Sioux City O'Neill & Western. Sodus Bay & Southern .............•. Elmira & Lake Ontario. New Albany Belt & Terminal ...... Kentucky & Indiana Bridge. Sonora ..... ......... ........ ........•. Atchison Topeka & Santa Fe. New BQdfordRailroad............... Old Colony. South Georgia & Florida............. Savannah Florida & Western. New Brunswick ........... ... ...... . Canadian Pacific. South Side (Va.) ....................•• Norfolk & Western. Newburg & New York .............. . New York Lake Erie & Western. Southeastern & St. Louis ..........• . Louisville & Nashville. New Castle & Shenango Valley ...... New York Pennsylvania & Ohio. Southern California ..... . ...... ...... Atchison Topeka & Santa Fe. New Haven & Derby .............•.. New York New Haven & Hartford. Southern Georgia & Florida . .... .... Savannah Florida & Western. New Jersey Midland ..... ............ New York Susquehanna & Western. Southern Kansas .................... .Atchison Topeka & Sau ta Fe. New Jersey Southern ..... ........... Central of New Jersey. Southern Kansas in Texas ........... .Atchison Topeka & Santa Fe. New Mexico & Southern Pacific ..... .Atchison Topeka & Santa Fe. Southern Kansas & Western ......•. .Atchison Topeka & Santa Fe. New Orleans & Gulf .. ..•............. New Orleans & Southern. Southern Minnesota ............. ... . Chicago Milwaukee & St. Paul. New Orleans & Mobile ... .... ... . .... Louisville & Nashville. Southern Pacifl.c Branch ............. Southern Pacific of California. New Orleans Pacific ....... .... . ..... Texas & Pacific. outhern Pennsylvania .......... .. .. Cumberland Valley. Newport & Richford . ............... . Connecticut & Passumpsic. Spokane & Palouse ............... .. . Northern Pacifl.c. NewtoW1l. & Flushing ................ Long Island. Sterling Mountain RR ... .... .. ...... Sterling Iron & R'y Co. (see Misoel'IJ) New York Elevated ....... . .......... Manhattan Elevated. Steubenville & Indiana ....... .. .. .. . Pittsburg Cinn. Chic. & St. Louis. New York & Erie ............. ....... New York Lake Erie & Western. Stockton & Copperopolis ............ Southern Pacific of California. New York & Long Branch....... ; ... Central of New Jersey. Sturgis Goshen & St. Louis .......... Lake Shore & Michi~iu HO'\lilaa'n. New York & Manhattan Beach ... . . . N. Y. Brooklyn & Man.hat. Beach. Sugar Refineries .. ................... .American Sugar Befioing. New York Providence & Boston .... New York New Haven & Hartford. Sugar Trust .......................... .American Sugar Refining. New York & Oswego Midland ....... New York Ontario & Western. Sunbury & Erie ...................... Philadelphia & Erie. New York & Rockaway .............. Long Island. Syracuse Northern . . ......... ...... .. Rome Watertown & Ogdensbur~. N. Y. Woodhaven & Rockaway ...... New York &Rockaway Beach. Syracuse Ontario & New York .... West Shore. Nodaway Valley .. . ..... ... ~·········Kan. City St. Jos. & Council Bluffs. Norfolk & Petersburg................ Norfolk & Western. T aylor's Falls & Lake Superior ..... St. Paul & Duluth. Norfolk Southern .................... Norfolk & Southern. Tarkio Valley ........................ Kan. City St. Jos. & Council Blu.Jfa Northern Illinois ..................... Chicago & Northwestern. Tebo & Neosho ..... ..... ....... . ..... Missouri Kansas & Texas. North M1ssouri. ...................... Wabash. Tennessee Midland .....•............ P aducah Tennessee & Alabama. North Shore .......................... Canadian Pacific. Terre Haute & Southeastern .. ...... Evansville & Indianapolis. North Wisconsin .... .. ... ........ .... Chic. St. Paul Minn. & Omaha. Texas Mexican ....................... Mexican National. Northern Pacific & Manitoba Ter ... Northern Pacific. Texas & St. Louis ........ ......... .•. St. Louis Southwestern. Northern Pacific & Montana ........ Northern Pacific. Toledo Ann Arbor & Cadillac ... ... . Toledo Ann Arbor & North Mioh. Northwestern Grand Trunk ......... Chicago & Grand Trunk. Toledo Ann Arbor & Grand Trunk .. Toledo Ann Arbor & North Mich. Northwestern North Carolina ....... Richmond· & Danville. · Toledo Ann Arbor & Lake Michigan. Toledo Ann Arbor & North Mio1t.1 N-0rthwestern Union......... . ... .. .. Chicago & Northwestern. Toledo Ann.Arbor & Mt. Pleasant .. Toledo Ann Arbor & North Mich. N-0rthwestVirginia ................. . Baltimore & Ohio. ToledoBelt .. ·......... .... ..... ... .... Wheeling & Lake Erie,• ,· ' Ocean Steamshi"p .................... Cent. RR. & Banking Co. of Georgia Toledo Cincinnati & St. Louis .. .... . Toledo S-t. Louis & Kansas City. •.roledo Columbus & Cincinnati ... ... Toledo & Ohio Central. :· Ogdensburg Transit ...... ........... Ogdensburtl Lake Champlain. Toronto Grey & Bruce . ....... ... .... Canadian Pacific. 01:iio Central.. .......... . ........... . Toledo & 0 ·o Central. Troy & Boston ..... .... .......... ... . Fitchburg. Ohio Incli.ana & Western ......... .. .. Peoria & Eastern. Ohio & Northwestern ................ Cincinnati Portsmouth & Virginia. Tunnel RR. of St. Louis .......•..... Terminal .A.ss'n of St. Louis (Misoe L Ohio & West Virginia ................ Col. Hocking Valley & Toledo. Union ................................ Northern Central. Omaha & Southwestern ... .. ..... .. . Chicago Burlington & Quincy. Union Railway of Chattanooga ..••. Chattanooga Union. Ontario & Quebec . ................... Canadian Pacific. Oregon Short Line ....... . ........... Oregon ShortLine & Utah Northern. Union Elevated ...... ........•....... BrooklynElevated. Union & Logansport ................ Pittsburg Cincin. Chicago & Bt. L. Oswego & Rome ................. . ... Rome Watertown & Ogdensburg. Union Ter. Ry. of Kansas City, Kan.Kansas City Suburban Belt. Ottawa Oswego & Fox River ..... .. . Chicago Burlington& Quincy. Upper Coos .....•...•••..•........•••. Maine Central. Ottumwa Cedar Falls & St. Paul .... Chicago & Northwestern. Utah & Northern ..............••..•. Oregon Short Line & Utah North':n,. Ox!ord & Clarksville..............•.. Richmond & Danville. Utah Southern .........•...•••....... Oregon Short Line & Utah Nortll'• Pacific Coast......................... Oregon Improvement Co. Utica & Black River ..•..•....•...•.. Rome Watertown & Ogdensburg. Pacific of Missouri. . ...... ... ........ Missouri Pacific. Venice & Carondelet .•••............ Louisville Evansville & St. Louie. Paoifl.c Short Line ... ........ ....... . Sioux City O'Neill & Western. Verdigris Val. Inde:pend'ce & West .. Missouri Pacific. Paducah & Elizabethtown .......... Chesapeake Ohio & Southwestern. Vicksburg & Meridian ...........•... Alabama & Vicksburg. Peninsular (Mi;ch) .•.. . .....•. .. ...... Chicago & Northwestern. Virginia & Tennessee ................ Norfolk & Western. Pennsylvama & N. Y. Canal.. ....•. Lehigh Valley. Penobscot Shore Line......•......... Maine Central. W aco &Northwestern............... Houston & Texas Central. Pensacola & .Atlantic ...........•.... Louisville & Nashville. Warren & Franklin..............•... Wes tern New York & Pennsyl va.nta Philadelphia Marlton & Medford ... Camden & .Atlantic. Warwick Valley ..................•. ..Lehigh & Hudson River. Pittsburg Cincinnati & St. Louis ..•. Pitts. Cinn. Chic. & St. Lonie. Washington City Va. Mid. & Gt. So . Virgmia Midland. Pittsburg & Connellsville............ Baltimore & Ohio. Washington City & Point Lookout.Baltimore & Ohio. Pittsfield & North Adams .....•.... . Boston & Albany. Washington Ohio & Western .•...... Richmond & Danville. Pleasant Hill & De Soto .....••...•.. Kansas City Clinton & Springfield. Waynesburg & Canton .•.......•.•... Cleveland Canton & Southern. Port Huron & Northwestern ........ Flint & Pere Marquette. Western Minnesota ...•.•.....•...•.. St. Paul & Northern Pacific. Portland&Kennebec ................. Maine Central. Western Paci:flc ...................... Central Pacific. Portfand & Ogdensburg ............. Maine Centaal. West Wisconsin .....•..•....•.•••..•. Chio. St. Paul Minneap. & Omaha, Portsmouth Great Falls & Conway .Boston & Maine. Wichita & Western ..•..•.•..•...•.... Atchison Topeka '1: Santa Fe. Prairie du Chien ...........•......... Chicago Milwaukee & St. Paul. Winona & St. Peter . .. ...... ......... Chicago & Northwe.Jtern. Wisconsin & Minnesota ..•......•...• Wisconsin Central Company. Q.uinoy Alton & St. Louis .•......•.. Chicago Burlin~ton & Quincy. Wisconsin Minnesota & Paoiflo ...... Minneapolis & St. Louis. Wisconsin Valley .................. .. . Chicago Milwaukee & St. Paw. Ravenswood Spencer & Glenville .. Ohio River. Republican Valley .........••........ Chicago Burlington & Quincy. York & Pea.oh Bottom ..•...•........ Baltimore & Lehigh. Rhode Island& Massachusetts ..... . New York & New England. Bioh Hill .................. ..... .... . . Kansas City Fort Scott & Memphis. Zanesville Terminal. ................ Columbua Shawnee • Hoeki•&! https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~t Omaiia:: :i~i:s:. STOCK AND BOND TABLES. NOTES. These tables are expressly intended to be used in connection with the information concerning investment matters published from wee to week in the CiiIRONICLE. At the conclusion of the statement for each company, therefore, is furnished a complete index of all items perblning to that company published in the CHRONICLE within the last eighteen months. Annual reports are in black-faced figures. In case any company eannot be found in its regular alphabetical order (the railroads being arranged together first, and miscellaneous oompanies following), reference should be made to the index to roads leased and consolidated. The "dividends" appearing in the text are those which have actually been paid during the calendar years named, irrespective of when they may have been earned; hence they often differ from the dividends reported with the earnings for the same years respectively. By •• net earnings" as used in this SUPPLEMENT is meant the earnings remaining after deducting operating expenses, but not interest on debt, rentals or other fixed charges. Sotne companies report net earnings before and some after deducting taxes. The following will give explanations of each of the columns of the tables below: D68cription.-A.bbreviations used are: M. for "mortgage;" gen. M. for" general mortgage;" con. M. or consol. M. for "consolidated mortgage;" inc. M. for "income mortgage; " g. for "gold;" guar. for "guaranteed; " guar. p. & i. for "guaranteed principal and interest;" cum. for "cumulative;" non-cum. for "non-cumulative;" conv. for "convertible;" pref. for "prefe1Ted;" s. f. for "sinking fund;" 1. gr. for "land grant;" r. for "registered;" o. for" coupon;" c. * for "coupon but may be registered as to principal;" c. & r. for "coupon and registered;'' br. for "branch;" end. for "endorsed;" "red." for redeemable, meaning subject to call before maturity (so "red. at 100" means subject to call at par); "d'rn" or "drawn" for subject to call for the sinking fund from time to time when drawn by lot; "p. m." for "per mile," thus $15,000 p. m. means $15,000 per mile. Date of Bonds.-The date of issue on the face of the bonds is referred to in this column. Miles of .Road.-Opposite stocks, this meam the miles of road owned; opposite bond , the miles covered by the mortgage. Size 01· Par Valiie.-Shows (in dollars unless otherwi e marked), the denominations or par value, "100, &c.," signifying $100 and larger. Rate Per Oent.-The interest per annum is given for bonds, but unless otherwise indicated the per cent of last dividend for stocks; g. means gold;. x, extra; s. stock or scrip; per an. means per annum, so 6 per an. (M. & N.) means 6 per cent yearly, payable 3 per cent in May and 3 per· cent in ~ovember. When Payable.-J. & J. stands for January and July; F. & A., February and August; M. & S., March and September; A. & 0., April and October; M. &N., May and November; J. & D., June and December; Q.-J., quarterly from January; Q.-F., quarterly from February; Q.-M:., quarterly from March. Bonds,principal when due; Stocks, last dividend.-The date in this column shows the period when the principal falls due of bonds, but the time when the last dividend was paid on stocks. Subscribers will confer a great favor by giving immediate notice of any error discovered in these Tables. RAILROADS. For explanation of column headings, &o., see notes above. Bonds • INTEREST OR DIVIDENDS. l Wh-Princi D Miles Date Size, or Amount - - - - - - - - - - - - - - - - - - pa ' en ue of of Par Outstanding Rate per When Where Payable, and by Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -1- - - - - - - -1-----------1------Adirondack.-lst M., $2,000,000, g., guar. p. & L . . Alabama Great Southern-Common "B" shares __ .. Prefen-ed "A" shares,6 percent (cum.for6 years) iS:n~J~f:~~:£'1~1to,ooo,-i=eci: i-,-•iis ~~ Debentures, gold. __________________ --··._·---·-- __ . Income certificates sinking fund .. _____ .. __ ._ ... - . Alabama Midland-Common stock ___________ . __ ._ .. Prefen-ed stock, 6 per cent, non-cumulative .. _. __ 1st Mort., guar. by Sav. Fla. & W., gold . . . __ . ___ .c .. 1st M., S~ra~e to Luverne, $15,000 P.· ~•gold __ o* ola. N. 0. 1'ex. &; Pac. Junc.-Defen-ed B shares ... Preferred "A" shares ____ ·-·----_·-·-·-····-··--- __ "A" deben., income till Nov.1895-See text.-·· .o ''B" debentures,redeemable after 1910 at 115 .. o "C" debentures income, sub;ject to call at 100 ... _ at fro iuiie Alabama&; Vic]csburg-Stock _____ . ·-·- __ -·-·-- -··· __ Vicksburg & Meridian 1st mortgage. __ ... _. _____ _ Ala. & Vicks. consol. 1st M., ($1,800,000) gold ... . 2d mortgage, inc.for 5 years, non-cum., gold .. . Albany d: Siisq.-Stock, 7 p. o. rental D. & H. Canal.. Albany City loan (sinking fund, 1 per ct. yearly).c Consol.M. (guar. D. & H. endorsed on bonds) .. c*&r 57 290 290 290 290 1892 i75 1888 1890 34 i43 is11s 1888 1886 1888 1890 1890 1890 143 143 143 1881 1889 1889 142 142 1876 isi35 $1,000 £10 £10 $1,000 £100 £100 Various. $100 $100 $1,000 1,000 £10 £10 £100 £100 £100 100 1.000 100 &o. 100 &c. 100 ! 1,000 1,000 Adirondack-Owns from Saratoga to North Creek, N.Y., 57 miles. Stock authorized, $-!,000,000; outstandini, $2,600,000; par, $100. The bonds oan-y the endorsed guaranty of tne Delaware & Hull.son as to principal and interest; the $1,000,000 bonds unlssued may be sold for extensions at $20,000 per mile of completed road-trustee, U. S. Trust Co. In year 1891-92 gross earnings, $161,786; net over taxes, etc., $38,274, against $46,275 in 1890-91. (V. 55, p. 588.) Adlronda<'k & St. Lawrence.-SEEMOHAWK & MALO~E. Alabama Great Sonthern.-(See Map East fennessee Vfrginia & GoorgiaJ.-Owns Wauhatohie, Tenn., to Meridian, Miss., 290 miles; leases Wauhatohie to Chattanooga, 5 miles; total operated, 295 miles. Also has trackage, Ga. Pao. RR., Woodlawn-Bessemer branch, 19 miles. ORGANIZATION.-Reorganized as now Nov. 30, 1877, after foreclosure. An English .-.ompany of the same title owns all the stock and is Itself controlled by the East Tennessee Virginia & Georgia RR. Co., the latter being now in receivers' hands. A majority of stock of Chattanooga Union-which see-was purchased in 1891 by Ala. Gr. So. STOCK.-Of the capital stock of the English Company t!he East Tennessee Virginia & Ga. in April, 1890, purchased £340,000 "A" shares and £783,010 "B" shares and pledged them to secure its Cincinnati Extension bonds. V. 50, p. 560. The Enalish and American companies own jointly $1,000,000 Cincinnati New 8rleans & Texas Pacific stock. .After payment of interest on bonds net profits are to be applied as follows: (a) to 6 per cent on preferred "A" shares; (b) to 4 per cent on :hmded certificates; (c) to appropriation of a sufficient sum to retire :funded certificates in 10 years; (d) to dividend on" B" shares. DIVIDENDS.-On ".A" assenting shares for period since December 31, 1887: In 1889, 6 per cent; in 1890, 9 ; in 1891, 6 per cent; in 1892, 6. On Class "B" 112 per cent was paid 1891; in l892, December, 112 p. o. BoNDs.-Of the general mortgage bonds unissued £484,000 are in trust to retire the 1st mortgage bond and debentures at maturity. Car trust June, 1892, including rnterest, $492,863. EARNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 months), gross $770,286, against$838,595 in 1891; net, $134,169, against $207,961. ANNUAL REPORT.-FiscaJ year ends June 30. Report for 1891-92 was in V. 55, p. 721. Iu year 1391-92 gross earning!:! were $1.~81,931; net $444,730; other income, $20,000; interest on bonds, $248,220; income tax, etc., $9,857; balance for stock, $206,653. In 1890-91 $1,942,981; net, $580,750; total net income, $620,751.-(V. 53, p. 324, 639; V. 54, p. 923; V. 55, p. 721.l Alabama Mldland.-Owns from Bainnridge, Ga., to Montgomery, Ala.I about 175 miles; branch, Sprague Junction to Luverne, 34 miles; tota owned, 209 miles. Interest on the first mortgage due in 1928 has been reduced to 5 per cent and the bonds stamped principal and interest guaranteed in gold by the Savannah Florida & Western. There are $85,000 bonds unassented. No arrangement was made with the branch line bonds, mostly held by the Plant Investment Co. For 6 months ending_ _J une 30, 1892, gross earnings $228,234; net over betterments, etc., $4,496. In 1891 gross $539,290. The Plant Investment Company owns $2,425,000 common and $1,200,000 preferred stock. -(V. 53, p. 186, 256, 368.) '1.labaJUa Ne-w Orleans Texas & PacUlc .)'unction (Lim• It d. )-This is an English company controlling the Alabama & Vicks- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I $1,000,000 412 g. M. & S. £1,566,000 See text. £676,070 6 per an. M. & N. $1,750,000 6 g. J. & J. £476,000 5 g. J. & D. £134,000 6 g. F. & A. £53,257 4 __ .. $2,625,000 _-- . . . .. 5.g. M.-&·N. 500,000 6 g. J. & D. £2,500,000 ·--· ·--· £1,500,000 -··· ·--£748,850 5 g. M. & N. £1,048,390 5 g. M. & N. £810,700 5 g. A. & O. $700,000 Yearly. 3 1,000,000 6 A. & 0. 516,800 5 g. A. & 0. 700,000 5 g. A. & 0. 3,500,000 7 per an. J. & J. 1,000,000 6 M. & N. 10,000,000 6 g & 7 A. & 0. ~:~88:888 .. N.Y.Of.,21 Cortlandt St. London. do N.Y.,Farm.L.&Tr.&Bos London, Glyn Mills. do do do do ·--- .. ···- - - ··--·· N.Y~;l\iet/_politanTr.Co. ·-···-------·----· ----------------·· ·---------------·· See remarks. See remarks. See remarks. Cincinnati, Office. N. Y., Central Trust Co. do do do do N.Y.,Del.&Hud.Can.Co. do do do do Mar. 1, 1942. Dec., 1892 Dec , 1892 Jan. 1, 1908 Dec. 1. 1927 Aug. 15, 1906 By sink'g fund ··-····· Nov:·i;·fa2s Dec. 1, 1929 ·---···· Nov. i)"gfo-40 Nov.1,1910-40 Nov. 1, 1940 Nov.17, 1892 Apr. 1, 1921 A.pr. 1, 1921 Apr. 1, 1921 Jan. 2, 1893: 1895-1897 April 1, 1906 burg, 142 miles; Vicksburg Shreveport & Pacific, 189 miles; New Orleans & North Eastern, 195 miles; Spanish Fort Railway, 13 miles. ORGANIZATIO:N.'-Reorganized in 1891 by plan in v. 51, p. 537. The fixed charges, which formerly stood at about £130,000 per annum, were reduced to £37,500 by the reorganization. STOCK AND BONDS.-The preferred or "A" shares are 6 per cent, cumulative. Until Nov. 1, 1895, the "A" debentures are entitled to receive interest only if earned, but unpaid interest is cumulative. They, as also the "B" debentures_, are redeemable at the option of the company after Nov. 1, 1910, at .115. The "B" and "C" debentures areboth incomes for their full term, receiving interest only if earned, and are a second and third charge on earnings respeoti vely. The " C" debentures are subject to call at a11y time at par, on six months' notice. Coupons paid II s follows: On A debentures to and including May 1, 189~, all coupons in full to date. On B debentures: In 1891 212 per cent; in 1892 in May (an interim payment) 1 per cent, less income taL SECURITIES ow ED.-The company holds the following securities ,. viz.: Of Alabama & Vicksburg $30,000 1st mortgage, $141,100 consols, $387,700 2d mortgage incomes and $387,700 stock; of Vicksburg Shreveport & Pacific, $3,692,000 1st mortgage, $1,364,000 3d mortgage, $494,860 incomes and $1,594,000 stock; of New Orleans & North Eastern, $4,900,000 1st mortga."'e and $!,320,000 stock; of New Orleans Spanish Fort & Lake RR., i300,000 first mortgage and $200,000 common stock; of Cincinnati Southern, $532,000 stock. EARNINGS.-For l!'J months ending Dec. 31, 1891, receipts from investments were £76,496; after meeting general expenses, interest on ".A" debentures (for 14 months), &o., there remained a balance ot £27,387, out of which 212 per cent interest was paid on the "B" incomes, leaving unappropriated £1,833. (V. 50, p. 560; V. 51, p. 537.) Alabama & Vicksburg.-Owns Vicksburg to Meridian, Miss., and branch, 143 miles. It is mainly owned and controlled by the Alabama, New Orleans Texas & Pacific Junction Co.-whioh see. The Vicksburg & Meridian was sold Feb. 4, 1889 (see V. 48, p.190),andreorganized as now. DIVIDE ms.-From No,ember, 1890, to November, 1892, both inclusive, 3 per cent yearly. BoNDs.-The new seconds are income (non-cumulative as to earnings) for five years, and are a first lien on tlle Vicksburg & Meridian lands (120,789 acres), interest1 if earnings fall short, being payable from land sales ; when interest is paid from earnings the land sales go to sinking fund for the second mortgage bonds. Trustees of mortgage., Central Trust Co. of N. Y. All coupons on the incomes have been pain to O<;t. 1, 1892. Of the $1,800,000 consols authorized, $1,000,000 are . with trustee to retire V. & M. firsts at maturity. EARNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 months), gross earnings, $257,271, against $313,126 in 1891; net, $30,000, against $82,900. In year 1891-92 gross $692.741; net, $142,032; interest, $120,702; dividend, $21,000; balance, surplus, $331. In 1890-91 gross, $648,400; net, $149,905. (V. 53, p. 289, 712; V. 55, p, 543.) Albany & Susquehanna.-(See .Map Delaware &:Hudsooi.J-RoAD Owns Albany, N. Y., to Binghamton, N. Y., 142 miles. Branches, Duanesburg Junction, N. Y., to Schenectady, 14 miles; Cobleskill, N. Y., to CheITy Valley, 21 miles; Lackawanna & Susquehanna RR., 22' miles; East Glenville to Coons, 10 miles; total operated, 209 mile ... JANUARY, 1893.J RAILROAD STOCKS AND .BONDS. 7 Snb5cribers -will conf'er a great f'avor by giving immediate notice of' any error discovered in these Tables. RAILROADS. . INTEREST OR DIVIDENDS. r•M-PrtnOIMiles Date Size, or Amount pal, When Due-. of For explanation of column headings, &c., see notes of Par Outstanding Rate fer When Where Payable and by Stocks-La.st Road. Bonds Value. on first page of tables. Oen. Payable Whom. Dividend. 1 $485,000 Allegheny & Kinzita-lst M., for$500,000, ~old . . c* .... 1890 $1,000 5 g. F. & A. In default. See remarks . 50 10,544,200 Allegheny Valley-Common stock for $12,0 0,000 .. 259 ---· .... --·--·-----------········ 50 lfi,646,~00 Preferred stock for $18,0001000, 3 per cent cum . 259 ------1,000 lat mort main line (River Division) . .......... .. c* 132 i866 4,000,000 7·30 J. & J. N. y~;i>iiiia·:& Pittsi.img. Mcii...i;°i896 1,000 10,000,000 1st mort., Eastern Exten., ~ar. by Penn. RR .. c 110 1870 7 A. & 0. Phil.,Pa. RR. Co. &Lon. Asril 1, 1910 Mort. to State Pa., $100,00 due Jan. 1, yearly . . r 242 1870 100,000 1,(W0,000 J. & J. Philadelphia,Pa. RR.Co 10 ,000 Jan.1 5 1,000 1,369,000 General M. ($~0,000,000) {old, iuar. p. & i..c*&r 259 1892 4 g. M.& S. do do l\1ch. 1, 1942 1,000 Allentown Terminal RR.-ls mor ., gua-r. gold ..... 450,000 3 1889 4 g. J. & J. New York and Phila. July 1, 1919 100 An~olis Washington cf: Baltimore..... ............ 2012 358,000 See text. J. & J. Baltimore. Jan. 1, 1893 ---At·c ia, <l1tlf, Coast, Lakel'd-Stock ($1,500,000) . . ---100 500,000 --·· London:Br:iin.en.Co.Bk May· :i:,--i9o8 ..6.g. M.&N. £200 Arizona ct New Mexico.-lst mortgage, gold . .... . . . 71 £266,000 1,000 A1·k. Midland.-lst M. ($6,000 p. m.)g.,red.at 110.c* (1) 74 1891 6 g . J. & J. N. Y., Central Tr. Co. July 1, 1911 Asheville ct: Spartanb'lt1·g-lst mortgage, gold ...... c 1,000 66 1885 500,000 6 g. A. & 0. A.pril,'92, coup. last pd. April 1, 1925 1,000 2d mort.f,age for $500,000, gold ............ . .... . c 66 1887 215,000 J. & J. July 1, 1937 ~ g. Astoria ct: ortland.- lst mortgage .................. I .... 1892 1,000 480,000 M. & N. 1932 1,000 4,070,000 Atch~on Col. cf: Pacific-lstM.($16,000 p. m.) Q.-F. N. Y.un: 'fr.co:&Boston. May 1, 1905 . c*i 254 1879 6 1,000 34 1879 Alchuon Jewell Co. & West.-lst M., guar. C. B. . P.c 542,000 Q.-F. N.Y.Un.Tr.Co.&Bo ton. May 1, 1905 6 Atchison Topeka & Santa Fe-Stock .................. I .... .... 100 102,000,000 See text. N.Y., Boston & Chica50. Nov. 15, 1888 M:·&·N. Bostn, Kidder, Peabo y. Nov. 1, 1893 Guarantee fund notes (ext'ded in 1891) red.atlOOi 471 1888 1 5,000 6 7,000,000 Chicago & St. Louis 1st mort. ($10,000permile). 143 1885 1,000 1,500,000 M. & S. N.Y.,Farm'sL. &Tr. Co. Mch. 1, 1915 6 Old bonds not assenting to the reorganization . . . ... . . . . . .... · 1 1,577,910 Various. . ·4· g. J.--&--.J. } N. Y.·········· General M., gold (as to amount out see text) .. c: &r 6,619 1889 500 &c. 129,735,000 Union Trust,} .July 1, 1989 do. incomes non-cum~old, red. at par ...... c &r 11G,619 1889 500 &c. See text. Sept. 1. Boston and London. July 1, 1989 5 f New 2d mortgage goJ class A ............... c&r,6,619 1892 500 &c. 80,000,000 212 to g A. &O. do do .July 1, 1989 do do class , s'3e remarks ......... c&r 6,619 1892 500 &c. 5,000,000 4g. A. &O. July 1, 1989 do do Equip. Tr.,Ser.A, g.,$250,000 drn. y'rly at par .. c. . ... 1892 500 &c. 2,250,00o 5 g. .J. & J. New York and London. Jan.1 '94·1902 ·--- i'ss9 'tr· I Atchison System.-.Atluntic cf: Pacific.Guar. trust morto-~e gold, (redeemable at 105). c* West. Division 28 . guar.j§'. (s. f. drawn atl05)*.c* Inc. bonds, non•cum., W . . ($18,750p.m.) .. c &r 692 560 .... 1887 1887 1880 1,000 I 18,791,000 1,000 see remarks 50 &c. 1 12,000,000 ! 4 g. .J. & .J. N. Y., Mercantile Tr. Co. .Jan . 1, 1937 6 g. M.& s. do Sept. 1, 1907 do A. & 0. . .......... 6 Oct. 1, 1910 I LEASED for 150 years from February, 1870, to Delaware & Hudson Canal Co., which July 1, 1891, owned $450,000 stock; rental, 7 per cent on stock and interest on bonds. Additions and betterments char~ed to lessors, an~ cost made part ofinve.stment. BONDS-The consolidated mortgage 1s !or $10,000,000, o.f which $3,000,.000 are 7 per cents,, cur· ren~y; the ppncipal of the 6s 1s also payable rn "lawful money, but the mterest rn gold. E.A.RNINGS.-For three months endin~ Sept. 30, 1892, surplus over charges was $244,240, against $95,.759 m 1891. In year ending June 30, 1892, ~oss $3,880,464, against ti,'790,164 in 1890·91; net, $l,6~1,672, agarnst $1,533,573; surplu1 'Over charges, $505,055, agarnst $396,305.-(V. 53, p. 224, 714; V. 54, p. 289, 800: V. 55, p. 298, 806.) Allegheny Valley Railway.-OwnsfromPittsbur3_ to Oil City, Pa., 132 miles; branches-Red Bank, Pa., to Driftwoo ,110 miles; others, 17 miles; total operated, 259 miles. · ti on M arch 1 1892 f th All heny 0 RG.A.NIZ.ATION.., & c.-R eorgaruza ' 'o e eg Va.lley .Railroaa, which went into receivers' hands in May, 1884, and was sold in foreclosure on Dec. 15, 1891. Plan of reorg-aruzation, etc.~ was in CHRONICLE, V. 53, p. 324, 368, n20; V. 54, p. 409, 524. Roan controlled, as majority stockholder, by the Pennsylvania RR. Co. STOCK authorized $30,00©,000, of which $18,000,000 is cumulative 3 per cent preferred stock. Pennsylvania RR. Co. received $10,000,· 000 preferred and $8,251,050 common stock. BONDS.-The general mortgage for $20,000,000 four per cent bonds has principal and interest unconditionally guaranteed by the Pennsyl• vania RR. by endorsement on each bond. Of these bonds $171100,000 (being the principal and 8 per cent additional of the prior liens not divested) are reserved to take up the prior liens as they mature, and $1,000,000 are held for the future purposes of the company. The Fidelity Title & Trust Co. of Pittsburg is the mortgaie trustee. The Pennsylvania RR. Co. guarantees to purchase he interest on the 7 per cent 1st mortgage of 1870. The Pennsylvania RR. Co., the Northem Central Ry. and the Philadelphia & Erie RR. are guarantors on th0 5 per cent loan of 1890 · EARNINGS.-From .Jan, 1 to Nov. 30in'92 (11 mos.) grossearns.$2,411,· 884, agst. $:?,345,237 in 1891; net, $975,140, agst. $974,679. In l891 gross, $2,548,794; net, $1,026,853. In 1890 ~ross, $2,592,101; net, $1,124,651. (V. 52, P, 795 ; V. 53, P• 324, 36i:s, 520, 568, 921; V. 54, p. 328, 405; V. 54, p. 409, 524.) Allentown Terininal.-Owns 3 miles of railroad in Allentown, Pa., connecting the East Pennsylvania (Philadelphia & Reading) with the central of New Jersey. Leased for 999 years to Philadelphia & · t :fr L h. h c 1 & R eading an d Centr a l O f N ew J ersey (b Y assignmen om e ig oa Navigation) at interest on bonds and 5 per cent on $450,000 stock (par $50)~.bonds being guaranteed, principal and interest, by Philadelphia & Rearung and Lehigh Coal & Navigation.-(V. 50, p. 422.) Annapolis Washington & Baltlmore.-Owns road from A.n napolis to Annapolis Junction, 2012 miles Organized in 1886. Divi· dends: In 1886, 2 per cent; in 1887, 5; in 1888, 412; in 1889, 4; in 1890, 414; in 1891, 534; in 1892, 634; in 1893, Jan., 3 p. c. No bonds. Arcadia, Gulf' Coast, Lakeland KK.-Under construction from Lakeland, F[a., connecting with Northern and Western trunk lines, to Arcadia, and thence to deep water on the Gulf of Mexico; total length, including branches, about 200 miles, steel standard gauge. Traverses the ~hosphate district of Florida. Land grant 3,840 acres per mile. Private citizens have donated lands said to be of considerable value. STOCK for $500,000 was offered for sale at par in June, 1891. Stock authorized $1,500,000; par value $100. Offi ce, 88 Lincoln Street. Boston Arizona & New Mexico.-Lordsburg, N. M., to Clifton, Arizona, 71 miles (3 ft. gauge). In year ending Sept. 30, 1891, gross earnings were $244,705; net (after deducting damages by flood), $111,791. In 1889·90 gross, $233,253; net, $137,769. (V. 54, p. 403.) Arkansas llildland.-Owns :from Helena, Ark., to Clarendon, 50 miles; Pine City to Brinkley, Ark., 24 miles; total, 74 miles To be extended to Indian B ay, 12 miles. Successor in 1878 to the Arkansas Central, sold in foreclosure. In August, 1891, purchased the Brinkley Helena & Indian Bay RR., 2-! miles, which is to be made standard gauge like the rest of the road. Stoclr, $1,500.000; par, $100. Mortgage is for $516,000; bonds are subject to call at 110 on three months' notice. In year 1891 gross earnings were $95,255; net, $36,629; in· terest, $5,291 ; balance. surplus, $31,338. Asheville & Spartanburg.-( See Map Richmond & Danville).Own.s from Spartanburg Junction, S. C., to Asheville .Jnnction, N. C., 66 miles. Sold in foreclosure April, 1881, and reorganizea. Con• trolled by Richmond & West Point Terminal, which owns $1,047,981 of the $1,050,000 stock, and $215,000 second mortgage bonds, and has pledged them all texcept a few shares of stock) under its collateral trust of 1889. Default occurred October, 1892, on coupons of first mortgage-see Richmond & Danville. In 1890-91 gross earnings were $163,293, against $130,117 in 1889·90; deficit under operatmg expenses, $11,692. Atchison Colorado & Paclfic.-Owns Waterville, Kan., to Wash• ington, Kan., 20 miles; Greenleaf, Kan., to Logan, Kan., 155 miles; Logan to Lenora, Kan., 25 1!11}es; Downs, ~an., to Ball Cityt Kan., 24 miles; Yuma, Kan., to Wal'Wlck, Kan., 31 miles; total, 254 miles. The road :forms an extension of the Central Branch Union Pacific, which https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I leased it in 1879 fol' 25 years, and guaranteed the bonds. Controlled by Union Pacific, but operated by Missouri Pacific. STOCK, $1,522,400; (par $100); of which U. P. owns $920,300. RENTAL, $254,370 yearly A.tell.Ison Je-wen County&: ,vestern.-Jamestown, Kan., to Burr Oak, Kan., 34 miles. Under same auspices and 1.1ontrol as Atchison Colorado & Pacific. Stock, $202,800 (par $100), of which Union Pacific owns $105,000. Rental ii;i ~34.000 rP,r annum. ,A..tchlson TopeJca & Santa Fe.-(See Maps.J-RoAD.-The sys• tem, well shown on the adjoining maps, consists of the following: L eased and a ,11sol. Lines- Miles. Owned jointly with U. P.- Miles. Chicago, Ill., to Denver, Col. .1,210 Leavenworth Top. & S. W. Ry. 46 LaJunta,Col.,toElPaso,Tex. 601 Manhat.Alma&Burlingame. 57 BranchesinKansas,etc...... 2,771 JointlywithSt.L.&San.F.Lines practically ownedWichita & Rail way. 124 Gulf Colorado & Santa Fe Ry.Atlantic &Western Pacific (which see). 947 Galveston, Tex., to Purcell, Indian Territory...... .... 518 Total. including one•half Branches to Houston, San mileage ownedjointly .... 7,130 An elo etc 540 g 1 Proprieta1·y lines reported •• • •• ••• •• •• •• •• Sonora Railwayseparately263 N~~~~~cr 88 St. L. & San Fran. (which see) .1,864 Colorado Midland (which see) 350 Southern California Rail-.. way-Lines in California . .. 491 St. L. Kan. City & Col. RR .... 61 Grand total June 30, 1892 .. 9,344 In November, 1890, under a traffic arran"'ement with the Chicago Peoria & st. Louis, a through line between Chicago and St. Louis was opened. See v. 51, p. 608, ORGANIZATION, HISTORY, &c.-The Atchison Topeka & Santa Fe Com• pany was incorporated l\1arch 3, 1863. The main line of 471 miles was opened December 23, 1872. The whole system outside of this main llne is nominally under different corporations, whose stocks and b.onds (excepting those of the St. Louis & San Francisco and the Colorado Midland) arA nearly all deposited in trust under the Atchison's blanket mortgage. The system ie therefore in effect one line, and is &o t,r eated aq far as practicable in the accounts. The Atchison owns $3,046,800 of the Southern California Company's preferred stock of $6,072,000, but all its common, as well as practically all the other securities or the companies included in the table of mileage above under" other lines practically owned,'' these securities being pledged as already said. In May, 1890, control of the St. Louis & San Francisco Railway Company was acquired, $22,000,000 of Atchison stock being issued to pu.rchase the San Francisco Company's $25,500,000 common and preferred stock. See V. 50, p. 734. The entire capital stock of the St. L. & San Fr. is now owned, giv:ng full control of the Atlantic & Pacific. . In October, 1890, the entire capital stock of the Colorado Midland ($8,000,000) was purchased. See V. 51, p. 608. In Au!mst, 1884, an agreement was made through the Atlantic & Pacific for the control of the Mojave Division of the Southern Pacific and for traffic privileges over the Southern Pacific to San Francisco. In 1889 the company was reorganized by plan ot October 15, See the plan in v. 49, p. 504, and article on pp. 483, 597; also particulars below. In 1892 the incomes were mostly converted into second mortga~e bonds, payment or interest on which is obligatory-see below. The Chicago Elevated Terminal Railway Company was organized in August, 1890, to fnrnish to this road and other railroads a better means of entering Chicago. In l\1arch, 1892, the real estate of the Atchison in Chicago was sold for $8,102,264 to this Elevated Terminal Co., wltich is in no way allied to the Atcp.ison, but an entirely separate company. (See V. 53, p. 921; V. 54, p. 1<>8, 287, 525.J ST,1CK.-Company reports $102,000,000 out standing; New York Stock Exchange, in January, 1893, $101,492,787. DIVIDENDS-In 1879, 3 per cent; tn 1880, 812; in 1881, 6 cash and 50 stock; from 1882 to 1886, inclusive, 6 per cent; in 1887, 614; in 1888, 514; in 1889 and since, none. PRICE OF STOCK.-In 1886, 84 7s1v9934; in 1887, 903s1i>l18 7s; in 1888, 533s1il9912; in 1889, 26121i>58; in 1890, 23121i>503s; in 1891, 245s1i>4712; in 1892, 323s1i>465s; in 1893, to Jan. 20, inclusive, 331i>3612. BONDS-The guarantee fund notes are secured by a. second mortgage of the Atchison main line in Kansas and the deposit of the Chicago Santa Fe & California line and terminal stocks (in Chicago) with the Boston Safe Depoi;:it & Trust Co., trustee. General mortgage bonds for $131,860,000 are listed on the N. Y. Stock Exchange; the company, however, in September, 1892, reported only $129,735,000 as having been issued. The general mortgage 4s and, subiect to these, the income 5s, are secureCL by one indenture to the Union Trust Company of New York, Trustee, and cover the entire propertf of the company, all shares of stock owned or controlled anrl named in circular 63 (V. 49, p. 504), an bonds owned and .J?ledged under trust deeds, and all securities deposited under the reorgamzation. The 4s were authorized to an amount not exceeding $150~000,000 on present property, to carry out the reorgani• zation plan, ana additional amounts at $20,000 per mile for extensions or double track. Interest on old incomes was paid as follows: In 1890, 234 per cent; in 1891, 2 per cent; in 1892, 212 per cent. Abstracts of a.11 the prmcipal prior mortga"es of the Atchison Topeka. & Santa Fe Railroad Company were puhlishe'a: in tlle CHRONICLE, V. 49, :x~::·tl~: MAP OF TllE ATCHISON, TOPEKA SANTA FE R. R. AND EA.STERN & GULF ~--::~::.=:.=.~"=..==._~SECTION. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Austin 0 Treasure Clty V A Ha.milton 0 D Fatterson o A o Reveille MAP OF THE ATCHISON, TOPEKA SANTA FE R. R. AND WESTERN SECTWN. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis llanclleria Carmen Ojo Caliente ~ J\fop.tezuma ~ o l11ntt MAP OF THE COLORADO MIDLAND RAILWAY ATCHISON, TOPEKA & SANTA FE RAILROAD SYSTEM.. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD '1:!D CONNECTIONS. Redueed Rr-ale. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' 12 SUPPLEME.NT. [VOL, LVI, Subscribers will eonf'er a great f'avor by giving immediate notice of' any error discovered tn these Table■ , RAILROADS. Mil D t Siz INTEREST OR DIVIDENDS. Bonds-Prmctes a e e,or Amount 1 - - - - , - - - - - - - - - - '- - - - - - pal WhenDue For explanation of column headings, etc., see notes of of Par Outsta din Rate per When Where Payable, and by SfuckB-Last • on first page of.tables. Road. Bonds Value. n g Cent. Payable Whom. Dividend. - - --- --- ---- --- Atchison System.-Allantic & Paciji..c.-(Ooncluded) UentralDiv., 1st land grantmort., cumulative .. cy Income bonds, non-cum. ($18,750 per mile) .. c* .Atchison System-Cerrillos Coal RR.1st M., §old, guar., s. f., subject to call at par .. o* AlcAison ystem-Col-Orado Midland 1871 $500&c. 1,000 1882 $796,629 1,823,000 6 6 At Mat. J. & D. 1892 1,000 1,000,000 4 g. J. & J. 240 267 1886 1890 1888 1890 1890 1,000 1,000 1,000 1,000 6,250,000 4,809,000 409,000 216,000 700,000 6 4 7 6 7 2d mort. (now 1st), A, gold (Pacific to Beneoa,o• 294 Series B, gold···-········ Mo.,& branches, o• 294 Series c,,old . . . . . . . . . . . . 294 miles. c• 294 82 Mo.&West. R.lstM.,f,$5,000yearlydr.at105.o* tit. L. &BanF. col. trus gold,sink.fd.notdrawn.c* 103 Gen. M., g. (lot on 36 m.) $7,807,000 are 6s.c* 964 Collat. Tr. M. on br'ches ($20,000 p. m.),gold .. o* 55 Consolidated M. $50,000,000, gold, guar... o*&r 1327 Equip. M., gold, $80,000 dr. ann'lly at 105.o* EWP· Trust, gold, $23,000 due each A. & O .. t.L. ioh.&West. lstM.,red.at105,g.,guar .. c .. i¥5 Kan. C. &S. W. lstM., \ired. at 110, int. guar.. c~ 62 tit. L. Kan. & 8. W. 1st ., [·• guar., red. at 110.o 70 St. L. S31lem &Ark.lstM.,!,o d,guar.,red. at105.o* 54 Kan.Midland 1st M;.,gol ,$15,000p. m.,~ar ... o 107 Ft.S.&VanBur.Bndgelstl\l ,g., dr.atl 5,guar. Atchison System-Southern Califoniia-Pref. stock. 49i 1876 1876 1876 1879 1880 1881 1887 1890 1880 1884 1879 1886 1886 1886 1887 1885 1st mortgage, ($25,000 per mile) gold._ ......... o* Consol. moftga~ for $6,000,000, 01d, guar .... o* Equipment bon , s. f., drawn at 05, gold ..... o• Equip. bonds, B., dr'n at 105 after 1894, gold ... c . Busk Tunnel R'y 1st M., gold, guar., red. at 105 .. 1 I .j,tdl,ison System-St. Louis & San Francisco- ~46-551, and of the ~eneral mort~age in V. 49, p. 857,861, and of the The second mortgage of 1892 covers all the property of the Atchison na.med inoiroular 63 (see V. 49, p. 504), and secures $80,000,000 of class ·A bonds,whioh were given in exchange dollar for dollar for the income bonds, the class A bonds bearing 212 per cent interest till Oct. 1, 1893 ; then 3 per centtillOct.1, 1 94; then312percent till Oct, 1, 1895, therefter 4 per cent till maturity. It al o secmes $20,000,000 class B bonds, with interest at 4 per cent ()er annum; but not more than $5,000.000 of these can be issued in any one year. The proceeds of class B will be applied only to specific improvements (includin~ equipment), on the mileage of the Atchison system a itexi tedasof July 1, 1892, exclusive of the St.Louis & San Francisco and Colorado Midland roads. Under the new mortgage the company will have the further right, when all the class B bonds shall have !been issued, to put out 4 per cent gold bonds not exceeding $2,500,000 per annum, for the same specific purposes on the same mileage to a total limit of $50,000,000. All the bonds to be issued under this mortgage have the same lien, no one having priority over any other. Practically .all the income• bave been exchanged. See mortgage abstract, with ]Plan of conversion in full, V. 55. p. 101. CUR.RENT LCABILITIE .-Ou June 30, 1892, gross current liabilities -amt racing $6,525,000 bill payable (which includes financing t. L. & , an Fran. and Col. Midland under bond is~, es of tho e companies and ntily provided for) amounted to $16,446,641, again t $14,010,946 Ju.a.e 30, 1891. Cash and cash offsets $17,212,0::W, of which $4,471,352 • ,ea.sh, $4.,533,985 in bills, etc,, receivable, and $8,906,692 in securi• ~ies. ee V. 55, p. 985. FIXED CHARGES, FINANCES, &c.-The company receives $30,000 a mo;ntb from the Sonora ubsidy, payable in Mexican currency. Pay.ment.sbegan in Augu t, 1 90, and will continue till $1,681,400 in all as been paid. See V. 52, p. 49. The fixed charges ahead of the stock, under the income bond converfiion plan, supposin~ .all the incomes to have been converted into second mortgage bonds, w111 be as follows during the next four years: In year 892-93, $10,200,000; in 1893-94, $10,700,000; in 1894-95, $11,300,IIOOO. in year 1894-95, $11,900,000; thereafter, if no further second ,mortgage bonds are necessary, $12,000,000. The charges as here 6tated include taxes, rentals, oar trusts and interest, but no contingent d}harges. Bee circular, V. 54, p. 887. EilUUNGS.-From July 1, 1892, to Nov. 30, 1892 (5 months/, gross 7,473,904, against $16,399,313 in 1891; net, $6,096,084, against !1'198.674; including the St. Louis & San Francisco and Colorado Mid!Ia,nd., net earnings were $ ,051,676, against $7,512,460; interest and t'.16l3t.a.ls, whole system, $5,970,000, against $5,960,000 ; balance sm!J.'11 m.cl.u.ding miscellaneous income, $2,456,676, against $1,927,460. A.:inroAL REPORT.-Fi cal year ends June 30. Annual meeting is l'.heid on last Thursday in October. The annual report for 1891·92 was ,.,.iv-en st length in the CHRONICLE, v. 959, 976, 986, showing: OPERATIONS .A.ND FISCAL RESULTS. 1891-92. . -Yetir~nding June 30. 1889-90. 1890-91. 7,130·23 i\llles operated June 30... .. 7,110 7,114 $7,377,995 t!Passenger earnings......... $6,610,034 $7 .248,694 25,803,383 &reight.·-·-·················· 21,733,154 23,329,649 895,910 Hail.- ···-···-······-·--······ 742,917 871,550 809,732 Express...................... 764,552 769,241 1,551,167 Miscellaneous............... 1,153,700 1,444,582 $31,004,357 $33,663,716 $4,842,149 $5,074,672 2,670,736 3,399,204 12,334,867 14,482,151 1,072,634 1,087,142 $36,438,188 $4,954,113 4,064,561 14,956,485 1,235,773 T-0tal operating expenses. $20,920,386 $24,043,169 $25,210,933 :Net earnings................. $10,083,971 $9,620,547 $11,227,255 !Pere. of oper. ex. to earns.. 67·48 71·42 69·19 INCOME ACCOU?\T OF CONSOL. SYSTE~I. 1890-91. 1891-92. et earnings...................... . . . . . . .. . . . $9,620,547 $11,227,255 .Add income from investments, &o..... . ..... 770,156 818,280 ---- Total net income .................. ... .... $10,390,702 $12,1..045,535 .Interest on guaranteed fund notes....... . $420,000 :p407,82i " "4 per cent generals............. .. 5,024,286 5,102,lr-2 " "5 percent incomes ...... .... ...••• (2)1,587,791 (212)1,992,160 "other bds (inchhare of A. & P.). 478,255 470,902 .mental of track and rolling stock . _........ 614,979 619,820 !Rental of Mojave Div.,(one-half). .. . .. . . . . . . 218,133 218,133 'Tax:es·-···························· ........... 1,240,018 1,103,500 tSt. Louis & San Fran. (agreement Oct., '86). 260,302 323,309 .Miscellaneous . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92,395 242,802 Totaldeduotions ··· · ········ ·· ·····-···· $9,936,159 $10,480,630 Balance, surplus ........................ _.... $454,54~ $1,564,905 --(V. 53, p. 21, 107, 125, 137, 474, 639, 898, 920, 921, 923; V. 54, IP· 15 , 202, 242, 287,525, 642, 6, 1029, 1047; V. 55, p. 100, 101, 215, :297, 331,421,503,722,723,765,959,916,986, 1034.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis New York Agency. J. & D. N. Y., Central Trust Co. F. & A. do do M. & S. N. Y.Baring,Mag'n & Co. J. & J. do do J. & J. N.Y.,ContinentalTr.Co. Jan. 1, 1904, June Feb. Mch. Jan. July 1, 1, 1, 1, 1, 1936 1940 1898 1900 1935 6 g. M.&N. N.Y.Bar'g,Magoun & Co Nov. 1, 1906 100 &c. 500,000 6 g. M,& N. 500 &c. 2,766,500 do do Nov. 1, 1906 6 500 &c. g. M.&N. 2,400,000 do do Nov. 1, 1906 1,000 1,055,000 6 g. F. & A. do do Aug. 1, 1919 6 g. F. & A. N. Y., U. 8. Trust Co, Aug. 1, 1920 1,000 1,102,000 1,000 20,100,000 5 & 6g. ,I ~ ,I. r-.. \ .Baring,Ma~n&Co July 1, 1931 1,000 1,099,000 5 g. A. & 0. N. Y., Union ust. Oct. 1, 1987 l00&o. 11,610,000 4 g. A. & O. N. Y.Baring,Mago'n&Co Oct. 1, 1990 1,000 201,000 7 g. J. & D. do do June 1, 1895 1,000 73,000 6 g. A. & O. do do A.&O.$23,0C0 1,000 2,000,000 6 g. M. & S. do do Sept. 1, 1919 1,000 744,000 6 g. J. & J. do do Jan. 1, 1916 1,000 890,000 6 g. M.& S. do do Sept. 1, 1916 1,000 810,000 do 5 g. J. do Dec. 1, 1936 1,000 1,608,000 4 g. J. & , . do do June 1, 1937 409,000 1,000 6 g. A. & 0. do do Apr. 1, 1910 See text. 100 mew second mortgage m V. 55, p. lul. Total gross earnings.... Maintenance of road, &o.. .Xaintenanoe of equipm'nt. 'Transportation and traffic.. General..................... g. g. g. g. g. Nov. 1, 1901 June 1, 1922 &l. Atchison System.-Atlanttc & PacUic.-(See Map).-LINE Ol!' ROAJ?,-Owns Wes~rn divisiOI!, frolll: Isleta, N. M., near Albuquerque, to_ ~1~ Colorado River, 560 IIllles, with bran.oh, 4 miles, and Central D1vis10n, from Seneca, Mo., to apulpa, Ind. Ter., 112 miles. Leases from Big Colorado River to Mojave, qal., 242 miles; trackage Atoh. T. & S. Fe to Albuquerque, N. M., 13 miles; branches to mines, quarries etc., 16 miles; total operated, 947 miles. ' HISTORY A.ND STOCK.-Chartered by act of Congress July 27, 1866, an important link in the Atchi on system. .Authorized tock $100 000 000 (par, $100), of which $79,760,300 has been issued, $51,5031 800 this being owned by the Atchison Topeka & Santa Fe and the Sti. Louis & San Francisco companies equally and deposited in trust for thirty years. The sto~k is ola _se_d_ thus: Western Division, common stock, $78,281,600; Missouri D1v1s10n, preferred, $78,700; Central Division, preferred, $1,400,000. BONDS, &c.-The trust bonds due in 1937 are guaranteed severally (but notjointly) by the Atchison and St.Louis & San Francisco, each company guaranteeing one-half of each bond. They are redeemable at any time at 105. The 2d mortgage bonds had same guarantee as first mortgage; but the bonds have been retired from circulation by the guarantors thou~h the mortgage is kept alive and they- draw the 6 per cent interest on 1t. [Abstracts of all the mortgages m V. 49, p. 302.] Deferred liabilities, being sums due Atchison and St. L. & San Francisco, June 30, 1892, were $13,473,704. PURCHASE FROM so. P AC.-In 1884 the Southern Pacific sold the 242 miles of road ~om Mojave to Tp.e Needles, to this oo~pa,ny for $7 271,100, payable m Atlantic & Pacific first mort. bonds, issued on said 242 miles to !),mount of $~,0~9,250, and $1,~111850 f?.. cash. Until clear title to this piece of road 1s given, the Atlantic di Pacific has 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 Pacilio line_s either on a mileage basis or at 3 per cent per annum on $40,000 per mile. See V. 39, p. 208; V. 40, p. 50. LAND GRANT.-The grant claimed under the old A. & P. charter of July, 1866, is 25,600 acres per mile in Territories and 12,800 acres in States. On the Western Division the company has earned under its grant 20,· 295,296 acres of land, 5,330,296 of whiohwere sold to June 30, 1892, leavin~ 14,965,000 acres undisposed of. Map of land gi·ant was published in vHRONICLE, V. 36, p. 468. Total receipts year 1891-9~, $41,778. EARNINGS.-ln year ending June 30, 1892, gross were $3,361,100, against $3,253,977 in 1890-91; net, $550,064, against $23,323· fixed charges, $1,711,524; deficit, $1,161,459, against de:fioitin 1890-91 of $1,79;j,730; interest on unfunded debt due Atoh. and St. L. & San Fran. $581,296. (V. 53, p. 603,753,793; V. 55, p. 638, 989.) Atchison System-Cerrlllos Coal RH.-Owns 26,000 a.ores of coal lands at Cerrillos, New Mexico. Control acquired by Atchison in January, 1892, and above bonds guaranteed. The sinking fund is to retire the entire issue by maturity. See V. 55, p. 983. A..tchison System.-Colorado llildland.-( See Map.)-Owns from Colorado Springs to New Castle, Col., 234 miles; Aspen branch, 18 miles; Jero:ffie Park branch? 15 miles; _leases New Castle to Rifie Creek, 14 miles; Rio Grande Junction RR., Rifie Creek, Col., to Grand Junction, on the Rio Grande Western,62 miles; other, 7 miles; total, 350 miles. The Busk Tunnel is Etill under construction. HISTORY A.ND STOCK.-Completed Oct.15, 1888, and in October, 1890, Atohison purohased entire capital stock of $8,000,000. v. 51, p. 608. BoNns.-Abstract of first mortgage in V. 45, p. 540, and of consol. mortgage in V. 51, p. 572. Central Trust Company is trustee of both. The oonsols are guaranteed (by endorsement on the bonds) as to both principal and interest by Atchison. Both issues of equipment bonds. are redeemable by sinking funds at 105, and are to be paid at matUrity at same rate. 'l'he Bu k Tunnel bonds are guaranteed principal and interest by the Midland and are redeemable before maturity at 105. See V. 51, p. 142, 248. Du~ Atchison July, 1, 1892, $781,264. E.ARNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 months), gross $957,728, against $880,510 in 1891; net, $194i064, against $232,839. In year 1891·92 gross earninffi'S were $2,103,600; net, $563,582; fixed charges, $763,733; deficit, $200,150. In 1890-91 gross, $1,968-, 265; net, $581,367. (V. 53, p. 256; V. 55, p. 551,976, 995.) Atchison System.-St. Louts & San Francisco.-(See Map.; Owns St. Louis. Mo., to Seneca, 326 miles; Pierce City to Wichita Kan., 217 miles; Monett, Mo., to Paris, Tex., 303 miles; branches, 197 miles; total owned June 30, 1 92, 1,046 miles. Leases 282 miles, and half owns the Atlantic & Pacific, 947 miles; Wichita & Western, 125 miles; total (counting one half of mileage half owned), 1,864 miles. ORGANIZATION, &c.-This company was organized September 20, 1876, as successor to the Atlantic & Pacific in Missouri. In May, 1890 the Atchison Topeka & Banta Fe Railroad Company assumed control. See CHRONICLE, V. 50, p. 734,771. With the Atchison this company guarantees severally, not .iointly, one-half the first and second mortgage bonds of the Atlantic & Pacific, of whose securities it owns $27,931,450 stock, $777,000 Central Division incomes, $331,500 Western Division incomes and $2,293,000 seo• ond mortgage bonds. CAPITAL STOCK.-The common stock is $35,500,000; preferred (7 per oent non-cumulative), $10,000,000; 1st preferred (7 per cent non-cumulative), $4,500,000-par, all, $100. The stock is all owned by the Atchison Company. No dividends since F ebruary, 1890. of J.A.Ntr.ARY, 1898,] Sul»aerlbers will conCer a great favor by giving bnm.edlate notice of any error discovered in these Ta•les. Bonds-Prlhol RAILROADS. I INTEREST OR DIVIDENDS. Miles Date Size, or pal,When Due. Amount Rate For explanation of column headings, &c., see notes of Par of Outstanding r,er When Where Payable and by Stocks-Last on first page of tables. Road. Bonds Value. Cen . Payable Whom. Dividend. I --- 269 ---· Preferred mortgage, redeemable at 100. _______ c* 26512 1877 lat mortgage.--··--··-···················-·· ...... r 26512 1877 Income bonds (not cumulative), guaranteed .... r 1880 Atlantacf0harlotte-Stock(5-6 p. c. rent. Rich. & D.) .Atlanta d: Florida,-Stock ... ................ - - . - ..... . 1st mo~age ($8,000 Atlanta cf f· m.) gold ........ __ .. -.... c* est Point-8 ock .. _................. -.... Debenture certificates ..... ...... ..... . ...... ...... .Atlantfo Oity-Common stock ........ ..... ___ ........ Preferred stock ....... _............................. 1st m., gold, guar. (end.) by P. & R ..... ·-··--·-·c* Atlantic cf Danville-1st mort. gold, $16,000 p. m.c* .Atlantic cf St. Lawrence-Stock, 6%rental Grand Tr'k Augusta d! Savannah-Stock 7% rental Central Ga .. Austin d! Northwestern-1st mort. for $125,000 .... Mort., $20,000 p.m., gold, gu. p. & i. So. Pac.c*&r Bald Eagle Valley-1st mort. (B. f., drawn at 100) .. r Baltimore Bett-lstmortgage, gold, interest f«uar.c* Balt. d! Eastern Shore-Consol. mortgage, go d, c*&r Baltimore d! Lehigh.-Stock ... . _..................... York &Peach B. lst & 2d mortgages .. --··-·· ···· Maryland Central 1st M., int. 4 p. c. till Jan., 1899 General mo~e for $7,000,000, gold ......... Baltimore · d! Oh· tock (see remarks) ............. 1st and 2d pref. stock, cumd $3,000,000 is 1st pref Loan due in 1880, extende ,~ayable at will ...... Loan, 1853, extended in 18 5, gold .............. Loan, 1870, sink. fund £16,000 yearly, not drawn Mortgage 1872, sink. fund £12,000 semi-annually Mortgage 1874, sink. fund .£9,000 semi-annually. Bond to City Baltimore (payable $40,000 yearly). Consolida~ mortgage (for $29,600,000) gold.c* - . io5 105 86 ....... 97 97 83 283 151 53 76 103 90 8 87 84 40 44 44 -··· 379 379 379 421 421 379 511 --·· -·-· 1881 1889 ....... ---- 1889 1887 ...... iss9 1891 1880 1890 1890 ---- 1882 1889 1889 .... isi,"3 1853 1870 1872 1874 1875 1887 ---- $100 $1,700,000 ·see text .M.& 8. N.Y.Cent.Tr.Co.,54Wall Sept. 6, 1892 1,000 A. & 0. 500,000 do 7 do April 1, 1897 1,000 4,250,000 7 J. & J. do Jan. 1, 1907 do 500 750,000 A. & O. Anril 1, 1900 6 do do 25 1,115,000 ...6.g. M ..&..N . May, 1892, COUJOnB on. Nov.·1;·i939 1,000 840,000 100 1,232,200 See text. J. & J. Atlanta, a. (1) 1,000 1,232,200 Atlanta, Ga. J. & J. Co's option• 6 50 1,200,000 . ............. ......... .... . .......... 50 1,000,000 ............ 1,000 2,200,000 5 g. M.·&·N . Phila., 227 s·outh 4th St. May· ·i919 1,000 4,952,000 6 g. A. & 0. Oct., '90, coup.last paid. Oct. 1, 1917 100 5,484,000 6 per an. M.& 8 . London and Portland. Sept., 1892 100 1,032,200 7 per an. J. & D. Savannah! Co.'s Office. Dec., 1892 1,000 104,000 J. & J. N. Y., At antic Tr. Co. Jan. 1, 1899 6 1,000 1,670,000 5 g. J. & J. N. Y.,So.P.Co,23Broad July 1, 1941 1,000 F. & A. Phila.,F.Ins.Tr.&8.Dep. Jan. 1, 1902 360,000 6 1,000 6,000,000 5 g. M.&N. N. Y.,Brown Bros.&Balt Nov. 1, 1990 July, 1920 In default. 1,000 1,450,000 5 g. J. & J. 100 3,375,000 ···5·· Various ·i·os2· York, Pa. 50,&c. 250,000 Jan. 1 1919 Baltimore. 500&c. J. & J. 850,000 4-5 1939 do 1,000 900,000 5 g. M.&N. 100 25,000.000 See text. M.&N. Balt. Office, Cent. Bldg. Nov. 6, 1892 Jan. 1, 1893 do do 100 5,000,000 6 1,er an. J. & J. Atwill. do 500 &c. do J. & J. 579,500 4 Oct. 1, 1935 do 500 &c. do 1,709,500 4 g. A. & 0. £200 3,454,792 6 g. M.& 8. Lond'n,Baring Bros&Co Mch. 1, 1895 Mch. 1, 1902 do do .£100 9,301,512 6 g. M.& 8. £200 9,634,504 6 g. M.&N. London,J.S.Morgn&Co May, 1910 July, '93-1900 Baltimore, O ce. J. & J. 320,000 6 1,000 10,100,000 5 g. F. & A. N. Y., Union Trust Co. Feb. 1, 1988 1; BONDS.-Tbe consolidated 4 per cent mortgage of 1890 for $50,000,- · Claremont (3 feet gauge) 51 miles; branches, 28 miles; trackage, Z 000 covers all the property, equipment and lands, subject only to 1 miles; total, 285 miles, of which 56 miles 3 foot gauge. In January, $36,077,500 direct mortgage bonds of the company- on its own and! HUH, receivers were appointed. Receiver is now Alfred P. Thom. leased lines. Sufficient consols were reserved to retll'e these prior liens See. v. 52, p. 80. In March, 1891, $250,000 receiver's certificates at maturity, and further amounts were applied to purchase of A. & were authorized. Trustee of mortgage, Mercantile Trust Co. Stock Pac. guaranteed 2d 6s and to the retirement at par of $4,500,000 of authorized, $20,000 per mile; outstanding, $5,754,890; par, $100; car 1st preferred stock. See V. 55, p. 297. The consolidated bonds are trusts. $313,960 June 30, 1891; current liabili ies, $627,172. guaranteed, principal and interest, by the Atchison uom~any, and are EARNINGS-In year ending June 30, 1892, gross earnings were $542,80 stamped. ~ee full abstract m V. 54, p. 244. On July .._, 18~2, con- 087; net over operating expenses and taxes, $22,256. In 1890-91, sols outstanding were $11,489,600; dem3:nd loans due Atchison se- gross, $497,169; deficit, $115,987. (V. 52, p. 80, 462.) cured by oonsols (additional), $874,205; bills payable, $100,000. Atlantic & St. Lawrence.-Owns from Portland, Me., to Island LAND.-Assets were estimated June 30, 1892, at $449,303. Pond, Vt. (and branch), 151 miles, there connecting with Grand Trunk LATEST EutNINGS.-July 1, 1892, to Nov. 30, 1892 (5 months), gross, of Canada, to which leased for 999 years, August 5, 1853, at a, rental $4,319,1H8, agst. $4,050,494 in 1891; net, $1,761,5:rn, agst. $1,680,946. equal to bond interest and 6 per cent on stock. The funded debt conARNUAL REPORT.-Fiscal year ends June 30. Report for 1891-92 was sists of 1st, 2d and 3d mort~age bond~, in all $3,000,000, which the in V. 55, p. 976, 993 and the following is for the St. L. & s. F. proper. Grand Trunk holds and has J?ledgE?d_for its debentuJ:e stock. The stock of $5,484,000 is mostly £, with dividends payable m London. Years end June 30.1889-90. 1890-91. 1891-92. In l890- 91 gross earnings were $1,141,618; net, $243,658; deficit Gross e_arnmgs ...................... $6,394,069 $6,748,508 $7,053,228 under interest, &c., $291,661, again t $261,041 in 1889-90. Operating expenses ............. _.. 3,479,381 3,840,859 4.013,184 Augusta & Savannah.-Owns from Millen to Augusta, Ga., 53 Netearnings ... _.................... $2,914,688 $2,907,650 $3,040,044 miles. Leased in perpetuity to Central of Georgia for $73.000 per Otherinoome. ... _._................. 100,933 72,926 156 992 annum. Has no bonded debt. From March 4 to Sept. 30, 1892, gross _ _ _,__ earnings were $120,040; net, $38,235. In year 1890-91 groE1s, $232-, Total._ ........... _....... __ .... . $3,015,621 $2,980,576 $3,197,036 405; n et. $72,310, again)<t $95,452 in 1889-90; rental, $73,000. Charges (incl. imp'ts in 1890-91) .. 2,512,000 3,079,920 2,610,418 Austin & Northwestern.-Owns from Austin to Granite Mount- - - - - - - - - ain, Texas, 74 miles, and from Fairland to Llano, 30 miles; total, 103 Balance ........................ sur.$443,621 def.$99,344Bl,ll'.$586,618 miles, all standara. gauge. In 1892 control was acquired by pa.rties -V. 53, p. 641, 9i0, 933; V. 54, p. 244,276, 1048; v. 55, p. 100,297, interested in the Houston & Tf~xas Central. Road opened in 1882; 9'76, 9U3., foreclosed in l 88!'i; company reorganized in April, 1888. Stock authorized, $750,000; outstanding, $724,000; par $100. The land grant was Atchison Sy&tem-Southern CaJlfornia.-(See MapJ.-Owns 600,000 acres. MORTGAGE trustee A.tlantic Trust Co. The bonds have all the Palifornia lines operated by Atchison, reaching Barstow, San priucipal and interest guaranteed by the Southern Pacific Company. Diego, Los Angeles, etc., 491 miles in all. Atchison owns all the $6,- EARNINGS-•From October 1, 1891, to July 31, 1892 (10 months), gross 732,000 com. and $3,046,800 of t.he $6,072,000 pref. stock. Bonded earnings were $218,238; net, $98,795. Charles Dillingham, President. debt on 475 miles Jan. 1, 1892, including incomes, $12,284,740. An- --(V. 54, p. 1009.) nual interest charge, including income , $737,084, the bonds being all Bald Eagle Valleic,-Owns from Vail station, Pa., to Lockhaven 6s and practically all held in trust under the Atchison mortgages; p mil b h O B n f t p 3 mil Nitta b h 10 net floating debt Jan. 1, 1892, $965,188. In year ending June 30, a., 51 es; ranc e eon e, a., es; ny ra.nc • 1892, gross earnin~R were $2,187,627 ·, n et over operating expenses, miles; Snowshoe to Sugar Camp, 26 miles; total operated, 90 mile& Leased to Pennsylvania RR. Co. for 99 years from December 7, 1864. $ 717 , 137, against 511 , 764 in l8 9 0- 9 1. Rental, 40 per cent of gross earnings. Rental, in 1891, $254,866~ Atlanta & Charlotte Air Line.-Owns from Charlotte, N. c., to rental. etc., m 1890, $265,007; surplus over fixed charges, $226,816..t Atlanta, Ga., 269 miles. Formed February 27, 1877, arter foreclosure. out or which paid dividends (10 per cent) $140,623. Stock is $1,406,25u (par $50), of which Pennsylvania RR. owns $706,250. Dividend& LEASED on March 26, 1881, to the Richmond & Danville for 99 years, are paid February and August at Treasurer's office. (V. 49, p. 82.) at a rental of $466,500 per year, equal to the interest on debt and 5 per cent on stock; if gross earnings exceed $1,500,000, dividends to be6 Baltllnore BeU.-SEE BALTIMORE & Omo. per cent; and if they exceed $2,500,000, 7 per cent. Due Richmond & Baltimore & Eastern Shore.-Owns Claiborne to Ocean Cit:rr Danville for betterments, as per that company's balance sheet on June Md., 89 miles; from Claiborne to Baltimore, 42 miles, transfer is made 30, '90, $1,220,170. Rich. & Dan. went into receiver's hands In June, '92. by water. HI 'TORY.-Completed in December, 1890, and in April, DIVIDENDS have been-From 1881 to 1889, inclusive, 5 per cent yearly; 1891, Capt. Willard Thomson was appointed receiver. (Bee V. 51, p. in 1890, 512; in 1891, 6; in 1892, March, 3 ; September, 3 per cent. 718.) In April, 1892, the Maryland Le~slature passed an ac$ EARNINGS on portion of road in South Carolina were from Jan. to authorizing the city of Baltimore to acqwre a ciontrolllng interest Oct. 31, 1892, (10 months) were $600,265 , against $ 673 , 172 in 189 1.1 In in the stock of this company by guaranteeing both principal and interest of its 312 per cent tirst mortgage bonds for $900,000. If the s 1 90 grol'IS earnings entir e road were $1,687,335, against $1,516,416 in bondholders assent it is said that the pre~ent $1,450,000 bonds will be 1889. On _portion of road in Georgia for year ending June 30, 1892, exchanged for the new 312 per cents and the difference given in second gross earnmgs were $604,697; net, $194,576. . mortgage bonds at par. The City Council a~ou.rned until September Atlanta & Florlda.-Owns from Atlanta southerly to Fort Valley, ,vithout taking action i.p. the matter, and nottnng had been done aboui Ga., on Central Georgia Railroad, 105 miles; extension to tidewater pro- it prior t,, Nov. 4, 1892. In 1891 receiver's certificates ;for $35,000 jeoted. Early in 1892 receivers were appointed. v. 54, p. 287. 8ole were issued. STOCK paid in. $500,000; par, $50. EARNINGS-For eighi receiver now 1s T. W. Garrett. Foreclosure sale takes place Feb. 6, months and ten days ending Dec. 31, 1891, gross, $74,288; net, $17,799. 1893. Trustee of first mortgage for $1,200,000 is Central Trust Com- In addition ferry to Haltimore operated only during last 2·•. months pany. CartrustsAugust,1890,$64,000. Iny€1arendingJune30, 1892, had net earnin~s of $1,474, while ferry (now discontinued) to Bay gross earnings were $103,324; deficit under operating expenses, $229. Ridge had a dettcit for first 512 months of $7,488. From Oct. 1 to Nov. 30, 1892 (2 months), gross, $24,651, against Baltimore & Lehigh.-Owns from Baltimore, Md., to York, Pa.. $29,422 in 1891. In calendar year 1890 gross earnings were $128,842; 79 miles, and branch to Peach Bottom, 5 miles; total, 3 foot gauge net, $7,550. (V. 54, p. 287.) 84 miles. In May, 1891, the Maryland Central and the York & Peaoll Atlanta & West Point.-Owns from Atlanta, Ga., to west Point, Bottom railroads were consolidated under this title. In January, Ga., 8612 miles. In April, 1881, a controlling interest in this company 1~93, contract was let for making road standard ~auge. Tbe Marywas acquired by the Central Georgia through purchase of $188,500 stock land Central first mortgage bonds bear 4 per cent mterest till 1899; and the lease of the Georgia Railroad, under which lease $440,900 stock thereafter 5 per ct. In 1890 gross earnings were ftl231,154; net, $54,and the same amount of debt certificates are held. Any mortgage 280, againi,t $54,320 in 1889; urplus over charges in 1889, $21,617. issued must be subordinate in lien to the dividend certificates. President, William Gilmore.-( V. 53, p. 58.) DIVIDENDS begun in 1855 were for many years 8 per cent per annum. Daltlmo re & Ohio.-( See Map J.-Operates from Baltimore to Phila From Jan. 1, 1884, to July 1, 1892, 6 per cent yearly. delphia and Baltimore to ChicaRo, and has, via the Baltimore & Ohio EARNINGS-From Jan. 1 to Aug. 31, 1892 (8 months), gross earnings lSouthdwesternd, a did'rect rotutde to Cinlc1di·~atit'h593Bmlitles, theio68fu ~eatte were $271,078, a~ . inst $283,39 5 in 1891. In year ending June 30, ea,,e , owne an opera e (exc u ng e a rmore o ou 189 western) being on July, 1892, 1,999 miles, ot which 755 miles are 1, gross earnings were $483,054; net, $126,418; in 1889-'90, gross, we t and 1,244 miles east or the Ohio River; also operates the Valley $473,441; net, $168,363; interestnaid, $73,932; divid's (6 p.c.), $73,932. Railroad of Virginia (which see) 62 miles, and controls the Valley of Atlantic City .-Camden to Atlantic City,54 miles; with branches,&c. Ohio, the Baltimore & Ohio 8. W., the Staten Island Rapid Transit, and of 43 miles, of which 14 miles leased. ConBolidation in 1889 of the is interested in the Ohio & Mississippi and the West Virpinia & PittsPhiladelphia & Atlantic City RR. and other lines. Controlled by Phila- burg (see those compauies). delphia & Readin~ RR. Trustee of mortgag~ G iarnntee Trust & Safe HISTORY, LEASES, &c.-The corporation was chartered in MaryDeposit Co. of Philadelphia_. Floating debt January l, 1891, $648,290. land February 28. 1827, and in Virginia March 8, 1827. First section In !ear 1891 gross earnmgs were $805,647; net over expenses, opened May 24, 1830. TheBaltimore&OhioTelegraphComp~y•sstook $l 2 , 567 · (V. 52 , p. 8 24 -> owned by the Baltimore & Ohio Railroad Company was sold out t,o Atlantic & Danville.-Completed February, 1890, Portsmouth Western Union for $J,OOO,OOO Western Union stock at par and a rental 11.ear Norfolk, to Danville, Va., 204 miles, and James River Junction to of $60,000 per year ror fifty years. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE BALTIMORE & OHIO RAILROAD AND CONNECTIONS. JANUARY, 18\.'3.J it.alL.KuAlJ 8TOCKS AND .BONDS . Subscribers ff'lll confer a great favor by giving Immediate notice of any error 13 dl ■covered in these Tables. I Bonds-Prmoi.; INTEREST OR DIVIDENDS. Miles D"te Size, o1· RAILROADS. - - - - - - - - - - - - - - - - - 1pal,When Due, Amount "' Par Outstanding Rate per When !Where Payable, and by Stocks-Last of I of For explanation of column headings, &<'., see notes Dividend. Whom. Cent. Payable _ Road. , Bon~ Value. on first page of tables. Baltimore ti: Ohio-(Ooncluded.)- Loan, 1877 (a. f. dr'n at 100) {B.&O.&Ch.bds.col'l)c 263 N. W. Virginia RR. lat M. {ext. in 1888) assum.c < 104 S < B.&O.loan1879(Parkersb'gBr.bondscollat.)5 Mort.on.Phila.Br.• witbBalt.&Phila.bds.ascol.. 108 12 WashC.&P.L.(Alex.Br.) lstM.g.s.f.$36,000p.an Pittsburg & Connellsville 1st mortgage........... 149 Consol. mort., gold, guar. {s. f. £7,200 per yr.). 149 B. & O. loan, 1885,g. {Pitts. & Conn. bds. as col.).. 149 Cartrustloan,gold{$250,000pd.yearly.Tan.1).c Equipment trust {$100,000 paid yearly April 1) Equip. trust, Ser.B.,$200,000 due y'rly Nov. l.c* 10 "d~ r Schuyl. R. East Side RR. 1st M., g. (guar.) 32 ~i. Monongahela River RR., lat M., g, gn ... c* i:::l 1 Balt. & N. Y. RR., 1st M., gold, guar ... c&r 512 j'= lAkron & Chicago .Junction lstm., gold.. c* 73 8 p:; Balt.Belt.lstM.for$6,000,000,g~int.gu.c* B ut. ~ Ohio Southwest.-Stock {$2,500,00u is pref.) 281 5 Cincinnati & Baltimore 1st mortgage............. 1st mortgage (guaranteed by Balt. & 0.) gold .. c* 281 1st pref. income mort., not cumulative, gold ... c* 281 2d pref. mcome mort., not cumulative, gold ... c* 281 3d pref. income mGrt., not cumulative, gold ... c* 281 B.&O.S.W.Term.Co. lst~.($1,500,000)g.gu.p&i.* . .. i12 Balt.ctPotomac-lstM.(tun.)g.,s.f.lp.c.,notdr'n.c• 90 lstM., road,guar., gold, a. f. 1 p. c., not drawn .. c* 92 Consolidated mortgage for $10,000,000, gold . . c* Bangor ~ Piscatag_uis-Pref. mort. Green Ext.. . ... Bonds held by City of Bangor................... . . Beech Oreek-Stock (guaranteed 4 per cent)........ 132 1st mortgage, gold, guar. by N. Y. Central. ... c&r1 132 2dmortgag~for$1,000,000,gold,guar.J?,&i.c&r 132 C1ea.rfleldBilum.CoallstM.,gu. by Bh. Cr.,gold.c 1 5 g. £200 $7,008,3 20 1877 6 , 140,000 1855 $1,000 6 3,000,000 1,000 1879 412g. £200 11,616,000 1883 6 g. 540,000 1,000 1873 7 4,000,000 1868 $1,000 6 g. 6,567,880 £200 1876 5 g. 1886 $1,000 10,000,000 412 g . 1,000,000 1,000 1887 5 700,000 1,000 1889 5 1,600,000 1,000 1890 5 g. 4,500,000 1,000 1886 5 g. 700,000 1,000 1889 5 g. 350,000 1,000 1889 5 g, 1,500,000 1,000 1890 5 g. 6,000,000 1,000 1890 5 ooo 000 100 7 '333:000 iS69 1,000 412 g . 1,000 10,667,000 1889 5 g. 5,500,000 1,000 1889 5 g. 6,400,000 1,000 1889 5 g. 7,700,000 1,000 1889 5 g. (1) 1,000 1892 6g. 1,500,000 1,000 1871 6 g. 3,000,000 1,000 1871 5 g. 3,000,000 1.000 1889 5 300,000 1883 500 &c. 925,000 6 & 7 1,000 1869 5,500,000 4c per an. 50 . ... 4 ~5,000,000 1,000 1886 5 g. 500,000 1892 1 1,000 4 g. 825,000 1891 100 &c. I \ Baltimore & Ohto-(Concluded,) In 1890 a syndicate purchased from the City of Baltimorl3 its entire holdings of common stock, amounting to $3 250 000 and this stock, together with that held by the Garrett interest {$8,975,000 in all) h3!S been deposited µi trust with the Farmers' Loan & Trust Co., and will be voted on until July 1, 1893, by Mr. C. F. Mayer, President of the Baltimore & Oh10, anu bis two nominees. See v. p. 54, p. 369. A contract or lease made with the Chic. & N. Pac. in Dec., 1891, gives use of ample terminals in Chicago. See Ch. & N. P. and v. 55, p. 898. A controlltns interest in the stock of the Pittsburg & Western {which see) was acqwred in 1891-see below. For contract with Akron & Chicago .Junction and Baltimore Belt roads see V. 51, p. 314 CAPITAL STOCK.-Common stock listed on N. Y. Sto(}k Exchange in February, 1892. See the application for listing in V. 54, p. 368. Of the common stock $8,975,000 is deposited in trust as above stated. This is the "trust stock" dealt in on the Stock Exchange. See form of trust oertiflcatel!I in V. 54, p. 369. Preferred stock carries 6 per cent dividends only. On Nov. 11 1891, the Directors voted to increase the stock from $14,792.566 to $25,000,000, paying a 20 per cent stock dividend, and paying $2,161,800 for the previous purchase of Pittsburg & Western RR. stock, leaving about $5,000,000 a · ,plicable to impro,ements, which was sold in .January, 1892. See V. ·55, p. 899. DIVIDENDS ON COMMON STOCK.-In 1880, 9; in 1881 to 1885, inclusive, 10; in 1886, 8; in 1887, 4; then none till 1891, when 20 per cent in stock was declared, payable Dec. 31; in 1892 resumed cash dividends, paying 114 per cent in May for the quarter ended Dec. 31, "1891; Nov., 212 per cent (semi-annual) . PRICE OF COMMON STOCK.-(In Baltimore till March, 1892, then in New Yo:rk)-In 1883, 19212@205; in 1884, 167'all99; in 1885, 16612@ 185; in 1886, 150@191; in 1887, 104@180; in 1888, 80'all06lg; in 1889, 81@10112; in 1890 9212@107½; in 1891, 84 7s@104; in 1892 84@ 10114; in 1893 to .Tan. 20 inclusive, 9312@9612. BONDS.-In addition to bonds given above as outstanding the B. & O. sinking funds held June 30, 1892, consols of 1887 to the amount of $4,274,000(interest on which is paid in consols themselves) and other drat-class interest-bearing bonds to the amount of $5,558,972. The consolidated mort. of 1887 (trustee, Mercantile Trust & Dep. Co.) covers the main line, Baltimore to Wheeling, and branches, 444 miles, the two Ohio River bridges, stock of the Washlngton branch for $1,028,· 000, and the ent.ire issue of first mort. bonds ($5,000,000) on the road between Pittsburg a.nd Wheeling. The balance of eonRols unissued is reserved to retire the prior bonds not held by the sinking funds. Abstract of mortgage wa.s in V. 46, p. 804. · GUARANTIES.-The bonds of the Schuylkill River EaRt Side RR. are guaranteed by Baltimore & Ohio. So too are the Monongahela River 5s, which cover road from Clarksburg to Fairmount, W. Va., and the Balti· more & New York 5s, covering 5 ½I miles of road from west end of the Arthur Kill bridge of the Staten Island Rapid Transit RR. to a Junction witll the Cent. of N . Jersey RR. near Roselle, N. J., and 2 miles sidings. The Akron & Chicago Junction 5 per cent bonds cover road completed In July, 1891, from Akron to Chicago Junction, 73 miles. They are guaranteed as to interest by the rental from Baltimore & Ohio, as also the Baltimore Belt bonds on line building through the City of Baltimore. Bee V. 51, p. 344, 405, 829. The other bonds guaranteed are $11,000,000 Baltimore & Ohio South Western tlrst rnortga.ge 412 per cents; $2,500,000 Staten Island Rapid Transit 2d mort. 5s; $326,000 Valley of Va. lat mort. bonds (held in sinking fund); $147,250 Winchester & Potomac first mortgage 6s, and $2,240,000 of the Columbus & Cincinnati Midland; also interest on $2,400,000 Pittsburg Cleveland & Toledo first mortgage bonds and $4,000,000 5s West Virginia & Pittsburg RR., which see. GENERAL FINANCES, &c.-This company operates one of the leadin~ trunk lines to Chicago, as well as a line to Cincinnati. After having paid dl vidends for many years the company passed the November, 1887, .and subsequent dividends on common stock until November, 1891, when 20 per cent in stock was declared, and this was followed in May, 1892, by a quarterly dividend of 114 in cash and a selni-annual dividend of 212 per cent in November. Since 1887 the property has been .~eatly improved and enlarged. Special loans and bills payable were :ti3,361,529 July 1, 1892. For offsets see balance sheet, V. 55, p. 893. LATEST EARNINGS.-From .July 1, 1892, to Dec. 31, 1892, (6 months), gross on all lines east and west of Ohio River were $13,803,489, .against $13,579,327 in 1891; net, $4,116,000 against $4,306,880. ANNUAL REPORT.-Fiscal year now ends June 30. Annual meetinols still held, notwithstanding change of year, at Baltimore on the twr8 Monday of November. The 1ast report was for nine months ending ..Tune 301 1892, (See CHRONICLE v. 55, p. 878, 893,896), but it gave flgm•es ror year endin~ Sept. 30, 1892, as below, in comparison with previous years, Septemoer, 1892, being approximated. 1891-92. 1890-91. 1889-90. Yem·s ending Sept. 30Gross earnings ................ $24,412,096 $24,530,395 $26,034,167 •Operating expenses............ 16,966,870 17,078,233 18,595,801 .Net earnings.. ........••......•. $7,445,226 Acdincomefromothersources. 1,509,837 Tot.al net income............ $8,955,063 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $7,452,162 1,259,877 ----$8,712,039 J. J. A. A. J. .T. J. F. .T. A. & & & & & & & & & & M. & .T. & F. & M. & M. & M. & D. ·London,.T.S.Morgan&Co June 1, 1927 .T. 1Baltimore, B. & 0. RR. Mch. 1, 190i O. iN.Y.1 D.M.&Co.&Balt. Apr. 1, 1919 O.Lonuon,Brown...tS.&Co. Apr. 1, 1933 .Tune 1, 1918 Baltimore, vffi.ce. D. .T. Baltimore, B. & O. RR. .July, 1898 J. Lond'n,J.S.Morgan&Co . .Tan. 1, 1928 A. N. Y., Union Trust Co. I Feb. 1, 1925 .T. Balt'me,Merc.TrustCo. l0p.o.yearly. 0. Phila., Fin'ce Co. of Pa. ! 1893 to 1899 1Nv. l,' 93-1900 do do N. Dec. 1, 1935 D. Phila., Solicitors' Co. A. N. Y., Central Trust Co. Feb. 1, 1919 N. N. Y., Drexel-M.; &Bait. I May 1, 1939 N. N. Y., Mere. Trust Co. I Nov. 1, 1930 N. N.Y.,BrownBros.&Balt· Nov. 1, 1S90 I J J ..&.. .T. N. Y., Farni.ei-s; ·L. & Tr. .Tan~. i",""i900 j Jan. 1, 1990 do do .T. & .T. A. & O. N. Y., F. L. & Tr. & Balt. Jan. 1, 1990 .Tan. 1, 1990 do do Nov. 1 .Tan. 1, 1990 N. Y.-When earned. Dec. 1 May 1, 1942 York. New M. & N. J. & .T.Balt.OfflceandLondon. July 1, 1911 A. & O. Balt. Office, Calvert St. Apr. 1, 1911 J .Tuly 1, 1929 do do J. & .T. A. & O. Boston, Merch. Nat. Bk. A.pr. 2, 1913 I Apr. 1, 1899 Bangor, Me. A. & Q.-.J. N.Y., Gr'nd Cent. Depot Jan. 1, 1893 July 1, 1936 do do .T. & .T. July 1, 1936 no do J. & .T. J. & .T. 1N. Y., Knickerb'r Trust. Jan. 1, 1940 I 0.1 I 1889-90. DedttclNet earnings Washington Branch. $376,172 6,417,599 F1Xed charges...................... 300,000 D!v~. on lat & 2dpref. st'k (6 p. c.) Dividends on common stock. . .... 1891-92 1890-91. $205,425 $190,767 6,639,222 6,429,098 300,000 300,000 . ....... (114)312,428 Total. .......................... $7,093,771 $6,919,865 $7,457,075 .. r··e·tir-·e··l>·_·o·n·d··a·.·. $1,8 6 1 ,,2 9 2 $1,792,174 $1,847,292 Burpe lcutsp.·a·ym····e·n·t·s· .to 48 1 0 58 O•en,11 674,057 471,558 Leaving a balance of .......... $1,380,234 $1,320,616 $1,113,232 , - - - 1890-91.----. ,---1891-92.--"' Ea1·nings of- Gross. Net. Gross. Net. Main Stem, &c .......... $12,031,582 $4,613,672 $12,342,990 $'1,318,043 205,425 768,489 190,767 726,419 Washington Branch..... 128,482 856,212 160,634 793,295 Parkersburg Branch.... 285,999 187,542 1,419,931 Central Ohio Division... 1,365,564 199,127 1,032,207 255,359 Lake Erie Division...... 1,106,818 624,145 3,067,582 383,721 Chicago Division........ 2,556,814 975,521 981,796 3,090,404 Pittsburg Division...... 2,880,391 72,986 669,255 54,212 653,012 Wheeling & Pitts. Div.. 648,236 556,457 2,056,414 Philadel .la.Division. . . 1,899,638 149,978 df.10,625 2,116 145,026 New'k So..nerset & St'le. 22,769 347,646 69,200 344,458 Col. & Cincin. Midland. 233,055 df.31,742 27,376 def. 3,315 Akron Div.fromAug.91 Total ................ $24,530,395 $7,452,162 $26,034,168 $7,438,366 -(V. 53, p. 58, 223, 568, 603, 712, '752, 753, '7 55, 793; V. 54, p. 158, 366,368,643,683, 721; v. 55, p. 678; 878,893,894, 896, 1077.> Baltimore & Ohio Sonthw-estern-( SeeMapof Bal,timore~ Ohio) -cincmnatt, 0 ., to Belpre, 0., 193 miles; branches-Marietta to Belpre, 11 mu.es; Portsmouth to Hamden, 55 miles; Blanchester to Hillsboro, 22 miles; trackage in Cincinnati, 1 mllei total, 281 miles. ORGANIZATION.-Connecting line to Cincinnati, etc., for Baltimore & Ohio, which owns all common stock. Cin. Wash. & Balt. was sold in foreclosure Sept. 19, 1889, and reorganized by plan in V. 49, p . 82. CAPITAL STOCK.-Preferred stock is non cumulative. It is entitled to 6 per cent dividends, then common to 6, then both share equally. BONDS.-First mortgage bonds carry the endorsed guarantee of Baltimore & Ohio as to both principal and interest. See abstracts of mortgages in V. 51, p. 245, 246. Interest paid on incomes as follows. On first incomes: In 1891, March (out of earnings of 1890), 4 per cent; in April, 1892 {for year 1891), 5 per cent; in October (for half-year), 212 per cent. On second incomes: In 1892, 1 per cent. In August, 1892, company guaranteed $1,500,000 bonds of the B. & 0. S. W. Terminal Company, about to be issued for the construction of terminals in Cincinnati. See V. 55, p. 297. EARNINGS.-July 1, 1892, to Nov. 30, 1892 (5 months), gross $1,185,797, against $1,177,583; net, $459,539, against $474,679. ANNUAL REPO:rtT.-Fiscal year ends .Tune 30. Report for 1891-92 was in V. 55, p. 879, 899, as follows : 1891-92. 1890-91. Years ending June 3tJ$2,648,743 Gross earnings .....•.....•.•.••................ $2,326,671 1,64.9,528 Operating expenses .•••.•.•••............•...•.. 1,516,861 ---- Net earnings................................ $809,810 Total net {including other income) .... . ........ $813,492 Interest on bonds .............................. . $503,325 58,264 Taxes and other charges.......... . . . . . . . . . . . . . ---$999,214 $1,002,202 $503,325 61,079 $437,798 Balance over fixed charges .........•....... $251,903 -{V. 54, p. 287,485; V. 55, p. 297,542,639, 8'79, 893, 899.) B11.lttmore & Potomac.-Owns from Baltimore, Md., to South End Long.Br1tlg1?, Va. 1 43 miles; and from Bowie to Pope's Creek, 49 miles; total, 92 miles-mcluding tunnel in City of Baltimore; leases branch 4' miles; total operated 96 Iniles. Controlled by the Pennsylvania. RR. Co. STOCK.-$4,914,250 {par $50), of which Pennsylvania RR. owns $4,081,100 and Northern Central $622,850. BONDS.-Tbe con15ols for $3,000,000 are held by Pennsylvania RR. Co. Sufficient consols are reserved to retire all the prior bonds as they mature. Tl1e first mort· gage bonds are ~uaranteed by Pennsylvania RR. and Northern Central EARNINGS.-From Jan. 1 to March 31, 1892 (3 months), gross earnings $408,173, against $394,390 in 1891; net $54,742, against $98,910. In year 1891 gross earnings were $1,808,245; net {including $16,526 of "other income"i, $475,410; interest on bonds, $420,000; otlier charges, $35,552; balance, $19,857. In 1890 gross, $1,708,368; net, $462,848 ; other income, $1,555 . Beech Creek.-ROAD-.Tersey Shore, Pa., to Gazzam, 104 miles; branches, to Philipburg, to mines, &c., 33 miles; total, 137 miles; trackage to Williamsport, 16 m. Extension building to Mahaffey, 27 miles. HISTORY ASD LEASE-Successor to the Beech Creek rnearfleld & Southwestern, reorganized in 1886. From October 1, 1890, leased to the N. Y. Central & Hudson River RR. for 999 years at int.erest on bonds and 4 per cent on stock. STOCK AND BONDS.-Each share of stock carries the Centra.l's guar$7,438,367 1,~66,000 aranty of 4 p. c. dividends yearly, and the bonds are endorsed witli the Central's guaranty of principal and interest. See V. 52, p. 570. In $9,304,367 .Tune, 1892, stockholders authorized the issue of $1,000,000 i;evr second INVESTORS' SUPPLEMENT. LVor... LVL l!labeerlbers will conf'er a great favor by giving lnunedlate notice of' any error dl•covered In these Tables. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. B ellaireZanu,,illedt Oin.-Priorlienmort.,red.at105 ls~M. for $1,000,000 ($2~210?0 res.for pr.l'n bds.) B elmdere .Del.-lst M., ext dm 77, conv., guar..... c Cons. mort. of 1876, sinking fund, not drawn ..... c Cons. M. of '76, guar. by Un. Co's & Pa. RR.,s. f .. r B enninpwn dt Rutland-1st mortgage .............. Berkshire-Stock (7 p. c. perpet. rental Housatonic) B irm. Shef. tf: Tenn. Riv.-lst M., $25,000 p.m., a·c* B oswn d: Albany-Stock ($30,000,000 authorize ) .. Bonds of 187!> not mortgage .................. c&r Bonds (not mort.) issued to State for its stock .... r Pittsfield & North .A.dams (leased) stock .......... Ware River Railroad (leased) stock ................ l B oston dt Lowell-Stock .. ) Bonds, not mortgage .. , Bonds, do Bonds, Bonds, do Boston & Maine gives Bonds, do a rental guarantee Bonds, do c*.. for 99 years. Lowell & Law. bonds .. Ba.lem & Lowell bonds. Nash. &Low R1ain b'ds Do o B oston tf: Maine-Stock, common .................... Preferred stock, 6 per cent, non-cumulative ..... . Plain bonds, not mort age ..................... c&r Imp'nt bonds (fl,000, 00 due Feb., 1905) s. f .... Do do .................................. Bondsforimprovem'ts and refundg (see text) .. c&r Eastern RR.certs.of indebt. lstM., g. ,s.f.,not drn. c Portsmouth Great Falls & Conway 1st mort ..... c Bostond:N. Y.A-ir-T,i11t>-F't'lcnr~f.l1m.N.Y.N.H.,,,ff.\ 6 INTEREST OR DIVIDENDS. Bond6-Prinof Miles Date Size, or Amount pa.l,WhenDue► of of Par Outstanding Rate per When Where payable, and by Stocks-Last Road. Bonds Value. cent. Payable Whom. Dividend. 102 102 1889 $1,000 1890 1,000 1,000 1s~:.1 1,000 67 1876 67 1885-7 1,000 1,000 59 1877 22 100 1,000 119 issg 100 389 i875 1,000 ..... 1882 ---]00 19 ..... 4.<} 100 .... 100 ....... ---..... .... 1875 ...... ---- 1876 .... 1879 ·-·· 1883 .... .... ..... 1885-9 --·1,000 1892 ---64 ---· .... ... ------..... ---· ..... . ..... is11s 1880 ··-· ..... 1874 1885-7 ...... 1887 1892 ii"9 1876 73 1877 !>4 ' ---- $250,000 738,000 1,000,000 682,000 1,250,000 475,000 600,000 2,975,000 25,000,000 2,000,000 3,858,000 ~;:;,:-,,ooo 750,000 6,029,400 500,000 750,000 620,000 250.ooo 3,675,000 1,000,000 200,000 . .... 226,900 . .... 200,000 ...... 100,000 ·ioo 18,533,000 3,149,800 100 2,000,000 500 &c. 1,500,000 1,000 1,919,000 1,000 1,500,000 lOOO&c. 9,041,875 $&£ 1,000,000 500 &c. 1fl0 mortgage 5 per cent bonds and $1,000,000 new stock, both guaranteed by the New York Central. These securities will be issued from time to time to pay for extensions of the road through Clearfield in a southwesterly direction about 70 miles, reaching undeveloped coal fields. In September, 1892, $500,000 of these 5 per cents and $500,4)00 of stock were issued to pay :tor the extension about completed from Kermoor to Mahaffey, 27 miles, &c. (V. 55, p. 21.) Oar trusts (5 per cents) were $408,500 on July 1, 1892, part due yearly. DIVIDENDs-On preferred, 1886 to 1888, inclusive, 5 per cent per annum; in 1889, 219; in January, 1890, 5 per cent; in 1891 stock was all made common, and on this dividends of 4 per cent are guaranteed. Bee guaranty in V. 52, p. 570. LATEST EARNINGS.-July 1, 1892, to Sept. 30, 1892 (3 months), gross $288,681, against $301,183 in 1891; net, $133,575, against $156,119. ANNUAL REPORT.-Flscal year ends June 30. Report for 1891·92 was in V. 55, p. 542, showin"' gross earnings $1,230,834, net $528,177; 11.rst charges, $315,234; divid'end, $200,000; balance, surplus, $12,943. In 1890-91 gross $1,101,237, net $551,262. (V. 52, p. 80, 238, 321, 498, 570; ,. ~. p. 328, 887; v. 55, p. 21, &42, 551.) Bellaire Zanesville & Cinclnnati.-Owns Bellaire, 0., to Wllhelm Station, 0., 102 miles, three foot gauge; leases Muskingum County Railroad, Wilhelm to Mill Run, 9 miles; trackage B. & O. RR., Mill Run to Zanesville, 9 miles; total operated, 112 miles. Placed in receiver's hands in July, 1886, and reorganized in 1889. It is proposed to standard-gauge the line. Stock is: Common, $832,000; preferred, $795 910; par $50. In year ending June 30.;1892, gross earnings were $97,015, (~ainst $88,931 in 1890-91); net over expenses..and taxes, $10,291. Belvidere Dela-ware.-Owns from Trenton, N. J., to Manunka Chunk, N. J., 67 nnles; Flemington RR.,&c., 14 miles; operated cut-off, 1 mile; total operated, 82 miles. Leased to United Companies, and transferred to Penn. RR. March 7, 1876. Net earnings paid as rentaL Penn. RR., Dec. 31, 1891, owned all of the 7 per cents. The first mortgage (convertible into stock) and new 4 per cent bonds are guaranteed by the United Companies. In 1891, net, $370,830; surplus over interest and dividends, $112,904. Dividends of 6 per cent are paid. Stock, $1,150,000 (par $50), all held by Penn. RR. Co. Berkshlre.-Owns from Connecticut State Line to West Stockbridge, Mass., 22 miles. Leased in perpetuity to Housatonic Railroad Company at 7 per cent on capital stock, $600,000. Lessors have paid taxes, &c., and hence the quarterly dividend due in October has usually been omitted. In 1892 a suit was brought against the Housatonio to recover the amount theretofore paid in taxes. In June, 1892, road passed with the Housatonic Railroad-which see-into the New York New Haven & Hartford system. Stock in 1891 paid 5·30 per cent; in 1892, January, 19 10; April, 134; July, 13,1; m 1893, January, $1·85. Btrm.ingham. Sheffield & Tennessee Kiver.-RoAD-Sheffleld to Jasper, Ala., and branches, 11.9 miles. In October, 1892, it was reported that an extension would be built at once from Jasper to Birmingham, 42 miles. In connection with the Paducah Tennessee & Alabama ('Y"hich see) ai:id o_therroads, there will then be a through line from St. Loms, Mo., to Birmmgham, .A.la. V. 55, p. 768. STOCK-$3,275,000; par, $100. MORTGAGE trustee is Knickerbocker rrust Co. EARNINGSFrom July 1 to Nov. 30, 1892 (5 months), gross earnings were$112,618, against$100,386 in 1891; net, $29,214, against $36,938. [n year 189192 gross earnings were $227,311; net, $87,563; interest on bonds, $148,750. There are car trusts outstanding. V. 55, p. 768. Boston & Albany.-Owns from Boston, Mass., to Albany, N. Y. 202 miles; numerous branches, 104 miles; leased lines, 83 miles; total operated, 389 miles. Formed December, 1867 by consolidation of the Boston & Worcester and the Western railroads. STOCK-In 1889 obtained permission from the Legislature to issue $10,000,000 additional stock, $7,000,000 being for bonds due in 1892 and 1895 and the remainder for improvements. On Jan. 5, 1892, $5,000,000 of this new stock was issued to retire 7 per cents due Feb. 1. DIVIDEll.TJ>S-Cash dividends at the rate of 8 per cent yearly have been paid for many years. Stock dividend of 10 per cent was paid in 1883 and of 313 per cent in 1886. LATEST EARNI_NGS-From July 1 to Sept. 30, 1892 (3 months), gross, $2,583,!158, agamst $ : ,510,965; net, $749,859, against $704,333; interest, taxes and rentals, $129,935, against $220,490; balance for stock, $619,\:123, against $483,842. .ANNUAL REP< RT.-1<'1s1·al year ends June 30; report in V. 55, p. 254. Years endi11g June 301889-90. 1890-91. 1891-92. Gross earning-s ................. $9,151,069 $9,216,222 $9,863,316 Operatingexpensesand taxes. 6,276,777 6,807,751 7,403,183 6 4 6 7 4 7 See text. 5 g. 8 per an. 6 ;:; 5 per an. 7 per an. See text. 7 6 5 412 4 4 6 6 6 5 g. See text. 6 per an. 7 4 4 4 6 g. 412 9,,0QRJ-00 4 nf'r $1.ll, J. & J. N. Y., Farmers' L. & Tr. J. & J. .......... J. & D. Philadelphia, Pa. RR. J. & J. Phila..,and Trenton,N.J. Various Philadelphia, Pa. RR. M. & N. N.Y., Union Trust no. Q.-J. Stockbridge .'l'::-,.:tsurer. .A.. & 0. ........ .. Q.-M. ~~;ston,Of.Kne.eland St. -T .£ J. do do .A.. &; 0. do do J. & J. do do J. & J. do do J. & J. Boston, at Office, M. & S. do do J. & J. do do J. & J. do do M. & N. do do Various do do .A.. & 0. do do .A.. & 0. do do .A.. & 0. do do F. & A. Nashua, Oo.'s Office. J. & J. do do M. & N. Boston, at Office. M. & S. do do J. & J. do do F. & .A.. do do F. & A. <10 do F. & A. do do M. & S. Bost.; Lond., Baring Br. J. & D. Boston, 2d Nat. Bank. A. k 0. N.H.. N.Y.N.H. kH. Co. July 1, 1899 Jan. 1, 1940 June 1 , 1902 Jan. 1, 1916 Seflt., 1925-27 i<ov. 1. 1897 Jan. 10, 1893 .A.pr. 1, 1928' Dec. 31, 1892 July 1, 1895 .A.pr. 1, 1902.' Jan. 1, 1893 Jan. 1, 1893 Jan. 1, 1893 Mch. 1, 1891> .July 1, 1896 July 1, 1899 May 1, 190a 1905-6-7-9 .A.pr. 1, 1932. Oct. 1~ 1897 Oct. 1,, 189S .Aug. 1, 1893. July 1, 190@Nov.16, 1892: Sept. 1, 1892 Jan., 1894 Feb.,.1 905&'07 Feb. 1, 1937 Aug. 1, 1942. Sept. 1, 1906 June 1, 1937 Oct. 1892 Bol!lton & Lowell.-RoAD-Owns Boston to Lowell, 27 miles branches-Salem and Lowell, 17 miles; Lowell and Lawrence, 12 miles others, 32 miles; Middlesex Oentral1 11 miles; leases-Manchester & Keene RR., 29 miles (owned jointly with Concord & Mon. RR.); Central' Massachusetts, 104 miles; Connecticut & Passumpsic, 147 miles; total'. leased, 280 miles; total owned and leased, 369 miles. LEASES-A. lease of the Boston & Lowell and all its branches to thoBoston & IMaine for 99 years was effected in 1887 at 7 per cent on stock till J'"anuary, 1897, and 8 per cent thereafter. BONDS AND STOCK-Stock authorized, $6,529,400. The 4 per cent bonds for $1,000,000, due .April, 1932, retired $1,000,000 bonds falling due A.pril 1, 1892. July 1, 1892, loans and bills payable $790,000. In January, 1893, stockholders authorized the directors to issue from time to time stock and bonds to meet requirement or lease. DIVIDENDS since 1880-In 1881 and 1882, 4 per cent; in 1883, 5; in 1884, 512; in 1885 and 1886, 6; in 1887, 612; in 1888 and since at rate of 7 per cent yearly; but see terms of lease above. No report issued since 1886. (V. 52, p. 84; V. 54, p. 78.> Boston & Maine.-Owns Boston to Portland, Me., via Dover, N H., 116 miles; Boston to New Hampshire State line (Eastern RR.), 41 miles; Conway Junction, Me., to North Conway, N. H., 73 miles; nu · merous small brancbf';, etc., 130 miles; total owned, 361 miles. LeasesNew Hampshire Stat,;1 Line to Portland, Me., via Portsmouth, N . H. (Eastern Railroad in New Hampshire and Portsmouth Saco & Portemoutb), 67 miles; Boston to Sherbrooke, Canada (Boston & LoweU, Nashua & Lowell, Northern New Hampshire, Connecticut & Passumpsic and Massawippi Valley railroads), 290 miles; Worcester, Mass., to Rochester, N. H. (Worcester Nashua & Rochester), 94 miles; North Cambridge Junction to Northampton, Mass. (Central Massachusetts), 99 miles ; branches, 344 miles; total leased. 850 milP,s ; total operated Oct. 1, 189?., 1,211 miles. For terms of leases see each company. ORGANIZATION, ETC.-ln 1890 a consolidation was made with the Eastern Railroad of Massachusetts and the Portsmouth Great Falls & Conway, on terms in V. 50, p. 589. Authority to consolidate with its other leased lines was granted in 1891. Company owns $2,264,400 Maine Central stock. In October, 1892, a large interest in the Boston & Maine was purchased by Philadelphia & Reading partiei;i, Mr. McLeod of the Reading becoming President of the B. & M. See V. 55, p. 723. l;!TOCK.-On Oct. 1, i892, common stock authorized was $21,819,300; preferred stock, $3,119,800; outstanding, as in table above. In 1891-92 $4,592,100 stock was issued to stockholdPrs at par. v. 52, p. 164, 349,) and in July, 1892, $750,600 more was authorized to retire the stock or the Chelsea Beach, &c., roads, mostly owned by B . & M► Common stock with this outstanding is $18,53H,000, of which $945,~uo held by mortgage trustees of Eastern RR., draws no dividends. DIVIDENDS.-On common stock since 1880:-In 1881 to 1885 inclusive,. 8 per cent; in 1886, 912; in 1887, 10; in 1888 and 1889, 9; in 1890, 9 ½!. in 1891, May, 419; November 412; in 1892, May, 4; Nov., 4. BoNDS.-ln June, 1892, it was voted to issue $2,500,000 of 4 per cent bonds, of which $1,500,000 to retire a like amount of 7 per cents due. Jan. 1, 1893, and $1,000,000 for improvementse. etc. Of these bonds $1,500,000 were to be outstanding DE>c. 1, 1892, the balance .April 1,. 189a. To refund the $2,000,000 7 p er cents due Jan. 1, 1894, a likeamount of 50 years 4s bas been authorized. There were outstanding Sept. 30, 1892, $594,800 412 per cent Charlestown land mortgage notes due 1895 and $1,585,000 bills payable. Jointly with Maine Central the ,B. & M. guarantees principal and interest of $300,000 bonds of the Portland Union Ry. Station Co's. .ANNUAL REPORT.-Fiscal year ends September 30. .Annual meeting: is held on second Wednesday in December. Report for 1891-92 was in. CHRONICLE, V. 55, p. 936. Year Ending Sept. 30. 1885-90. 1890-91. 1891-92. Miles operated .................• 1,210 1,210 1,210 Passenger earnings ............ . $7,347,201 $7,514,771 $7,951,561 Freight ....... ... ....... ........ . 7,118,583 7,011,127 7,424,54~ Mail, express, &c ....... _. _.... . 625,907 656,764 700,742. Total gross earnings ........ $15,091,691 $15,182,662 $16,076,852 Operating expenses and taxes. 10,567,213 · 10,728,685 11,387,875, ---- Net earnings .. ·-······ ..... . $4,524,478 $4,453,977 $4,688,977' Totalnet,includ'gotherincome $4,963,978 $4,951,311 $5,218,728 Rentals paid.................... $2,576,381 $2,018,090 $2,012,567 , Interest on bonds.............. 580,544 982,224 , Other interest.................. 150,757 181,077 5 1 160 412 Sinking funds................... 100,000 68,381 76,947 1,329.030 1,478,132 Net earnings .............. $2,874,292 $2,408,471 $2,460,133 Dividends....................... 1,042,211 Rate of dividend ................ (912c.; 3 pf.) (9c.; 6 pf.) (Sc.; 6 pf.) Interest paid................... $662,900 $662,900 $517,067 Rentals............... . ......... 78,000 78,000 78,000 Total ........................ $4,449,893 $4,578,802 $4,728,058 Dividends (8 per cent) ......... 1,600,000 1,600,000 1,800,000 Balance......................... $514,085 $372,509 $490,670, -(V. 53, p. 21,289,793,834,879; V. 54, p. 328,762; V. 55,p. 21,337,. Total ...................... . $2,340,900 $2,340,900 $2,395,067 462, 704, 722, 723, 894, 936, 1034; v. 56, p. 82.) Ba.lance, surplus............... $533,392 $67,571 $65,066 Boston & Ne-w York Air Llne.-Owns from New Haven, Conn... -(V. 52, p. 322, 718; V. 53, p. 187 255,270, 67)1,; V. 54,, p.12(3,.762; to Willimantic, Conn., 50 miles; leases Turnerville to Colchester, 4 V 5~,p.264,317 806) miles; total opff'i.ted, 54 miles. Formerly the New Haven )jj.ddletowD https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 c JANUARY, 18fi3.J .RAILROAD STOCKS Subscribers will confer a great favor by giving immediate notice of' any error discovered in these Tables. Bond.s-Prinr INTEREST OR DIVIDENDS. RAILROADS, Mlle, Date Size, or Amount p al,WhenDue of Par Outstanding Rate r.er When Where P-Wiable, and by Stocks-Last For explanation of column headings, &c., see notes of Cen . Payable horn. on first page of tables. Dividend. ROad. Bonds Value. I Boston <I: N. Y . .Afr-Lin~(Oon.)-lst mort~~e .. c* Boston <I: Prov.-Stock, lOp. c. guar. 99 yrs., l Col. Bonds to purchase branches,coupon or refistered Funding bonds, not mortgage sink. fund 890.. c* Boston Rei,ere Beach d'; Lynn-Stock .. ..... . .. ....... 18;s~~~~Tiroi>· &·siiore· isi· iiioriga.lie; · giiai-·~ B1·ooklyn Bath <I: West End-1st m., A. (See text) . . c 1st mortgage, series B .............. ...... . . ....... 2d mortgage for $100,000 ......................... Brooklyn <I: Brighton Beach-1st mortga!: ........ c Brooklyn Elevaled-lstm., gold, s. f., not awn ... c~ 2d mort~ge, ~ld, sinkinB fund, not drawn .... c* Union E ., 1st .,$550,00 p. m., gold,assumed.c* 2dM.,inc., non-cum., $185,000per mile,gold.cK Seaside & B'klyn B. 1st M. f:old, guar. p.and i.c&r Buff. Brad. cf: Pitts.-Gen. M. 10,000 acres land) .. r Buffalo Oreek-lst mortga~e ............... . ....... r Consol. mortgage for $1, 00,000 ................ . c Bitff. N. Y. <l:Erie-Stock (7p. c. rent. N.Y. L. E.&W.) 1st mortgage ..................................... c* Bitffalo Rochester <I: Pittsbw·g-Stoc~-Common ..... Preferred ~er cent non•cumulat1ve. . ............ R. &P. lst ,gold,Rochesterto Salamanca .... c* &. & P. consol. mort., $20,000 per mile,/iold, g.c* 1st general mortgage ($10,000,000) ~ol ....... c* R. & P., car tru ts, $232,000 are god ......... c* Lincoln Park & Charlotte 1st mort.,gold,'irar. c* Buff_alo & Southw.-lstM., gold. int.guar. by rie.c* Burlington Oeda1· Rapids d: Nm·thern-Stock . ....... 1st mortgage ................. . ........ .. .. ... .. . ... Iowa City & West., 1st M.,g.,int.guar.,red.at 105.c 50 68 1880 ..... i873 8 612 612 612 712 6 6 11 11 4 26 6 1886 1887 1887 1892 1887 1884 1885 1887 1887 1892 1865 1882 1891 .... 1888 ···9 i877 i42 142 304 304 108 All All ·--11 67 ... . 369 73 $1,000 100 1,000 1,000 100 1,000 1,000 1,000 1,000 1:000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 100 i876 1,000 . ... •P 100 .... 100 1,000 1881 1,000 1882 1,000 1887 1,000 Var's 1,000 1889 1877 50 &c. . ... 100 1876 lOO&c. 1,000 1879 & Willimantic. A lease was made in October, 188 2, to the New York New Haven & Hartford Railroad for 99 years a t 4 per cent yearly on t he prefen-ed tock and interest on the bonds. Common stock authorized $1,000,000; outstanding (including scrip) $864,231; par, $100. Till March 1, 1893, stockholders have right to exchange five shares of preferred for two shares of lessee's stock, with further privilege, the e xchange having been madl>, to subscribe to certain convertible deben· t ures to be issued bythc New Haven Company. See that company. Boston & Providence.-Owns from Boston, Mass., to Providence, R. I., 44 miles; branches, 20 miles; leases, Attleborough to North Attle· borough, 4 miles ; total operated, 68 miles. Leased for 99 years from A.pril 1, 1888, to Old Colony RR. at 10 per cent yearly on stock and a bonus of $1,300,000 cash, out of which an extra dividend of $32 50 was paid on stock May 2, 1888. Old Colony to .July 1, 1892, had invested $1,671,93& in road on lease and improvement account. (V. 55, p. 638.) Boston Reve1·e Beach & Lyon.-Owns narrow-gauge road from Lynn to East Boston, Mass., 9 miles1 connecting with Boston by oompany's ferry boatl.'l; Boston Winthrop~ Shore RR., East Boston to Winthrop, 5 miles, with branches 3 miles. On July 1, 1891, consolidated with the Boston Winthrop & Shore Road. Notes payable were October, 1892, $20,000. Dividends: From 1888 to 1891 inclusive, 7 per cent per annum; in 1892, Jan., 3 p. c.; July, 212; in 1893, Jan., 212. EARNINGS.-From July 1, 1892, to Sept. 30, 1892 (3 months), gross, $125,677, against $147,620 in 1891; net, $61,980, against $78,840. In year ending June 30, 1892, gross earnings were $336,922, (against $308,178 in 1890-91); net, $109,454; interest on bonds and notes, $38,36S; taxes, $19,336; dividends, 612 p. ct., $51,750. (V. 55, p. 297.) Brooklyn & Brighton Beach.-Owns double-track road from A.tlantic Avenue corner Franklin Avenue, Brooklyn, to Brighton Beach, N. Y., 712 miles. Successor to the Brooklyn Flatbush & Coney I sold in foreclosure in October, 1887. In December, 1892, was pro1:)0siug to extend its line to Fulton St., near Franklin Ave., there connecting with the Kings County Elevat,ed. Stock is-common, $500,000; preferred, $500,000. In year ending June 30. 1892, s-ross earnings were $113,406; net, $24,277; interest, $38,001; termmal property, $29,756; deficit, $43,480, against $28,182 in 1890-91. On July 1, 1.892, there were loans and bills payable for $273,021. President, J. Jourdan, Brooklyn (V. 55, p. 506.) Brooklyn Bath & West End.-Owns double-track road from Brooklyn (Union Depot), Fifth Avenue and 36th Street (terminus Union Elevated R.R.), via Bath BeachandBensonhurstto Coney Island, 612 miles, and has trackage to 39th Street Ferry. Reorganized in 1885. In January, 1893, it was announced that a larf;e interest in the stock had been bought by parties interested in the Brooklyn Tuctiou Co., which controls the Atlantic Ave. Street RR. Co. See micellaneou.s cos. Common stock, $500,000 (par $100). Preferred stock authorized, 100,000; outstanding, $52,000. July 1, 1892, there were also loans, bills payable and mortgages for $71,028. The series A bonds are subJect to call after Jan. 1, 1897. In year ending June 30, 1892, gross earnings were $78,274, against $l03,v66 in 1890-91; deflci; $1,879; interest, $31,094; deficit, $32,973, against $14,948 in 1890-~l. V. 55, p. 506. Brooklyn Elevated.-Owns from Fulton Ferry and BrooklYD Bridge to East New York, 6¾, miles; Broadway and Lexington Avenue to Broadway Ferry, 2~ miles, and Myrtle Avenue to Adams Street and Brooklyn Bridge, 4~ m.; branch to Greenwood, 3~ m.; total, 18 miles. HISTORY.-ln October, 1890, consolidated with the Union Elevated and in June, 18l:)2, stockholders voted to consolidate with the Seaside & Brooklyn Bridge Elevated RR. Of the Seaside road 112 miles to Cypress Hill Cemetery is under contract to be completed by March 1, 1893, and the line to 39th Street ferry t,y June 1, 1893. STOCK AND BONDS.-St!)ck is $13,283,600 (par $100). If net earnings suffice a si..I).lting fund of one per cent will purchase Brooklyn Elevated 2d mortgage bonds if obtain able at 90 and first mortgage bonds at 105-no bonds drawn. The Union Elevated first mortgage is for $7,000,000; the second for $2,500,000; trustee of both, Central Trust Company. Abstracts in V. 49, p. 583. See also V. 48, p. 129; V. 49, p. 471. The Seaside , ·ompany's mortgage is for $-1,000,000, of which $3,000,000 for the construction and equipment of the roads n •,rth of Sixtyfifth Street and $1,000,000 for those south of it. V. 55, p. 7~'1. LA.TEST EARNINGS.-From Jan. 1 to Nov. 30, 1892 (11 months), gross $1,722,394, agst. $1,615,795 in 1891; net, $753,572, agst. $697,336. ANNUAL REPORT.-Fiscal year ends June 30. Annual statement for 1891·92 with balance sheet was in V. 55, p. 421, showing gross earni ngs, $1,825,326; net, $794,799; total net (including other income), $804,126; interest, $628,711; taxl's, $30,100; rentals, etc., $2 .563; balance, surplus, $142,750. In 1890-91 gross, $L,746,509; net, $756,,638; total net, $769,340. (V. 53, t>. 256, 603, 754; V. 54, p. 597, 761, :924, 1048; v. 55, p. 21,298,421,722; v. 56, p. 4:?. tluffalo Bradford & Plttsburo-.-Owns from Can·ollton, N. Y., t,o Gilesville, Pa., 26 miles. Completed in 1866, and leased to New York Lake Erie & Western for 499 r,ears. Rental, 7 per cent on outetanding bonds, $40,600 a year. Capital stock, $2,286,4i0; par $100. Buffalo New York & Erie.-Owns from Buffalo, N. Y., to Corning, N. Y., 142 miles. Leased in 1863 to the New Y(?rk & Erie for 490 years, and r:ow operated by the New York Lake Erie & Western Com https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 F. & A. N.Y., Lincoln Nat. Bank $500,000 4,000,000 10 pr.an. Q.-J. Boston, Office, Park Sq. 7 J. & J. 500,000 do do do 4 J. & J. 1,665,000 do Boston. 850,000 See text. J. & J. J. & J. Boston, Of. Atlantic Av. 350,000 6 M.& s. 289,000 do 5 do 250,000 J. & J. Phila., 122 Bo. 4th St. 5 250,000 A. & O. do 5 do 52,000 5 .... -.. M.·&··s. 5 500,000 3,500,000 6 g. A. & O. N. Y., ·ceiit:Trust Co. 1,250,000 do 5 g. J. & J. do 6,150,000 do 6 g. M.&N. do 2,068,000 do 5 g. J. & J. do 5 g. J. & J. 1,500,000 do do J. & J. N. Y. L. Erie & W. RR. 580,000 7 J. N. Y., Farmers' L. & Tr. J. & 250,000 6 (1) do do J. & J. 5 950,000 7 per an. J. & D. N. Y. L. Erie & w. RR. 2,380,000 do 7 J. & D. do 6,000,000 6,000,000 See.text. Q."~F. N. Y., 36Waii.street. 6 g. F. & A. N. Y.d.~nion Tr~t Co. 1,300,000 3,920,000 6 g. J. & D. 2,971,000 do 5 g. M. & S. do 543,000 5,6 &7 Various N. Y., Gallatin Bank. 5 g. J. & J. N. Y., Union Trust Co. 350,000 6 g. J. & J. N. Y., First Nat. Bank. 1.500,000 5,500,000 See text. .. ... N. Y.,Of.,80 Broadwav. 6,500,000 5 J. & D. N. Y., Central Trust Co. do 7 g. M.& s. do 584,000 --· Aug. Jan. July July Jan. July Sept. Jan. Jan. 1, 1905 1, 1893 1, 1893 1, 1918 1, 1893 15,1897 1, 1906 1, 1907 1, 1916 sett:·i;·i927 Oc. 1, 1924 July 1, 1915 May 1, 1937 Jan. 1, 1927 July 1, 1942 Jan. 1, 1896 Jan. 1, 1907 Jan. 1, 1941 Dec. 1, 1892 June 1, 1916 Feb: "ii,: ·i893 Feb. 1, 1921 Dec. 1, 1922 Sept. 1, 1937 Var. to 1900 Jan., 1939 July 1, 1908 Feb. 1, 1893 June 1, 1906 Sept. 1, 1909 pany. Rental, $238,100-viz., 7 per cent on stock and bonds, and organization expenses. Dividends a.nd interest paid directly t,y lessees. Buffalo Rochester & Pitts burn- Railway.-( SeeMap.J-RO.A.D. Owns Rochester, N. Y., and Buffalo, N. Y., to Walston, Pa. (except40 miles ot trackage mentioned below and here deducted), 240 miles; branches to mines, 12 miles. Proprietary roads owned: Lincoln Park & Charlotte Railroad, 11 miles; Perry RR., 1 mile. Trackage-New York Lake Erie & Western, Howard Junction, Pa., to Clarion Junction, Pa., 36 miles; Buffalo Creek Railroad, 4 miles ; total operated, 304 miles. ORGANIZATION, ETC.-Formed in March, 1887, as successor of the Rochester & Pittsburg, which was foreclosed in October, 1885. In April, 1890, a controllin~ interest in the stock was purchased by a Buffalo syndicate, headea by the Bell, Lewis & Yates Coal Mining Company, a certain coal tonnage being guaranteed to the railroad for five years. See V. 50, p. 560, 589. The entire capital stock of the Rochester & Pittsburg Coal & Iron Company is owned. CONTRA.CT WITH READING, ETC .- In May, 1892, a traffic contract was made with the New York Central as lessee of the Beech Creek RR. and the Philadelphia & Readin"'. The contract is for fifty years and involves tho construction of twenty-seven miles of road from Du Bois on the Buffalo Rochester & Pittsburg to a connection with the Beech Creek road at Clearfield, Penn. The principal outlets of the Buffalo Rochester & Pittsburg for soft coal have been on Lake Ontario and Lake Erie. The new arrangement will g:ive it an outlet to Atlantic tidewater. '.rhe road will be built by the C1earfleld & Mahoning RR. Co., with a guarantee of 5 per cent on its bonds and 6 per cent on its stock by the Buff. Roch. & Pitts, See V. 54, p. 799; V. 55, p. 858, 894. DIVIDENDS.-On preferred stock dividends have been paid as follows: In 1892, Feb., 114; May, 114; Aug., 114; Nov., 114; in 1893, Feb., 114 p. c. BONDS.-Of the general mort"'age (trustee Union Trust Co. of N. Y.) for $10,000,000, there are $6,008,000 reserved for prior bonds. See V. 54, p. 203. There are also $8,000 incomes, due in 1921, mortga~es on real estate for $292,500, due in 1805, and $20,000 Perry Railroad guaranteed 7s due 1902, and on Oct. 1, 1892, loans and bills payable for $325,000. GENERA.L FINA~CES.-The change in the ownership or this company . in 1890, m entioned above, greatly improved its business, and in May, 1892, it began dividends on the preferred stock. The contract made 1n 1892 with the N. Y. Central and the Reading will also have an im_\)Ortant bearing on the company's future. See above. In July, 1892, $100,000 general 5s were issued. LATEST EARNINGS.-From July 1, 1892, to·Nov. 30, 1892, (5 months), gross, $1,446,673, against $1,253,221 in 1891; net, $450,046, against $414,180. For three months ending Sept. 30 interest, taxes, rentals and improvements, $174,650, against $179,965; balanoe, surplus, $87,920, against $75,028. ANNUAL REPORT.-Fiscal year ends June 30. The annual meeting is held at ew York on the third Monday in November. The report for 1891-92 in full was in V. 55, p. 855, 858. Year ending June 301889-90. 1890-91. 1891-92. Gross earnings................... $1,953,967 $2,5:1,484 $2,947,106 Net earnings............... . ..... $5-!7,299 $628,974 $756,726 Other income.................... 25,657 30,674 52,555 Total receipts............... Interest on bonds............... Int. on floating debt............ Rentals........................... $572,956 $-168,332 700 73,019 $659,648 $-196,357 15,841 72,98<1e $809,281 $518,781 23,709 73,195 Total disbursements........ $542,052 $585,18~ $615,686 Balance, surpla.s . . . . . . . . . . . . . . $30,904 $74,465 $193,595 - (V. 52, p. 239,707; V 53, p. 224, 673, 7 .'i2, 753; V, 5-1, p. 203, 243, 761,887; v. 55, p. 257,806,856,894, 937.) Bnft"alo & Sonth~western.-Owns from Buff'alo to Jamestown, N. Y., 67 miles. In July, 1880, leased to the New York Lake Erie & Western for 99 years-at 35 per cent of gross earnings, but interest on bonds guaranteed. Rental in year ending June 30, 1892, $144,516; surplus over int rest, $48,375; cliviclend;i, $51,9u2. Stock-common, $471,833 (of which Alleghany Valley Railway owns $2~5,916), ann. $471,833 of 7 per cent pL•efert·ed; par, :j!lOe . Common stock share11 dividends after 7 on preferred. Divhlcnds-011 common, in 1889, 1890 and 1891, 1 per cent; in 1892, August, 2 per cent. Hnrllngton Cedar Rapids & Nortltern.-ROAD.-On Jan. 1, 18V2, operated from Burlington, Iowa, to Albert Lea, Minn. (incl11ding 11 miles leased), 253 miles; branches-Linn, Iowa, to Postville, lowa, 94 miles; Muscatine, Iowa, to Riverside, Iowa, 31 miles; Vinton, rowa, to Holland, Iowa, 48 miles; Iowa City to What Cheer and Montezuma, 73 miles; Clinton Division, 81 miles; Decorah Division, 23 mile!'-; Iowa Falls Division, 430 mile ; Waverly Division, 6 miles; Fore t Division, 7 miles; Davenport Div., 3L miles; total operated, 1,082 miles, ot which 426 miles . owned and 6.'>6 mile3 leased. An extension is being built from Forest City aud EsthervillA, Ia., of which 35 miles corupleted in 1892. HISTORY.-Successor to the Burlington Cellar Rapi1l;i & 1\Jin·1csota foreclosed June 22, 1876. Leases in perpetuity tlie lino-- (included abo~e) lmi!t uy Io,ya Cit! & W<'_ste"'rn, Ueda~ Rapi<l:i lowa Falls & N. W., Cedar Rapu.J.s & Clmton and Ch1ea 0 0 Decor.th & :\Imuesota. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis SUPPLEMENT. [VOL, L'VI. MAP OF THE BUFFALO, ROCHESTER AND PITTSBURG R'Y ------·-·-----·-·-·-·-·---·-·-·-·;_· RAILROAD STOCKS AND BONDS. JANU.A.RY, UJ~3.] Snbscrib~rs -w-lll cower a great favor by 00 19 lving lmm{}diate notice of any error discovered tn these Tables. I Bonds-PrinctINTEREST OR DIVIDENDS. RAILP.OADS. Amount - - - - - - - - - - - - - - - - - pal,WhenDue Miles Date Size, or Outstanding Rate per When Where Payable, and by Blocks-Last Par of For explanation of column headings, &c., see notes of Dividend. Whom. Cent. Payable · Road. Bonds I Value. on first page of tables. Burlington Oedar R~ids <1; No1·th'n-(Ooncluded.j guar.,red. at lOo Ced. Rap. I. F. &N. ., lstM. C. R. I. F. & N. W. do. consol. st M., ~old, guar .. c f°' B.C.R.&N. con. lstM. &col. trust,gol ....... c*&r Minneapolis & St.Louis,lst mort., gold (assumed) ·Calqary di: Edmonton.-lst M.,red. at 110,.Julyl,96) Cali/oniia Pacific-1st mort., gold (ext'd in 1887) .. 2 M.~old, endorsed by Cen. Pac., exten. in 1891 3dmo .,g.,guar.byCent. Pac. ($1,000,000are3s) -Oaml>ria di: Olear·field.-lst M. ($2,000,000) golcl.c* Camden <1; Atlantic-Stock ($880,250 of it pref.) .... 2d mortgage ...................................... c* Consol. mort. ($650,000 are 5s; balance 6s coupon. Phil. Marl. & Med. 1st M. gu, red. aft. .July 1, '96. c -Oamden di: Burlington Oounty.-lst mortgage .... c* Canada A.tlantw-lst mortgage, gold .. ....... .. .. c* Canada Southern-Stock . ....•....•............•.... 1st mort., interest guar. by N. Y. C. & Rud. Riv .c .<itiar: s·P: c:.ciiv: ·tm ·,gi1~ (};r~~;:j,~jic.:..:Siocir and 2dmorts., l stM.s.f.,dr.at105 55 408 All 12 300 114 114 114 61 79 79 79 12 31 142 436 404 404 ---· .... Can.Cent.RR.1st suebec Prov. due on~ M. 0. & O. and N. S. RR. . .. . an. Pacific, land mor , gold (redeem at 110).... . ... 1st mortgage debenture sterlin~ ... . .. .. ..... ... 2,856 1st mort. on Algom_a Branch, ~o d ... .. : .. .. c:&r 183 Land filant bonds, mt. gu. by an. Govt ... c &r .... Conso ·dated perpetual debenture stock ........ ..... Manitoba S. W. Col. R'y $12,000 p. m., int. guar.g 213 Atlantic & Northwest-1st mort. gold, guar .. c*&r 325 North Shore Railway-1st mortgage .........•.•.• St. Lawrence & Ottawa-1st mort., gold, see text ·:,,-8 Ontario & Quebec stock guaranteed in perpetuity 334 Ont. & Que. deben., interest i?uar. in perpetuity .. -··· 1880 $1,000 6 g. A. & 0. N. Y. 'Central Trust. $825,000 Oct. 1, 1920 1,000 1,905,000 5 g. A. & 0. 1881 do do Oct. 1, 19 21 1884 1,000&c 5,841,000 5 g. A. & 0. do do Apr. 1, 19 34. 7 g. .J. & D. N. Y. Continental Trust. .June 1, 19 27 150,000 1877 500 &c. £100 £1,140,400 1890 6 g. .). & .J. London. July 1, 1910 1,000 $2,232,000 1867 412g. .J. & J. N.Y., S.Pac.Co.,23Br'd. Jan. 1, 19 12 1,000 do 1871 do 1,600,000 412g. .J. & J. Jan. 1, 19 11 500 2,998,000 3g.&6g. J. & J. 1875 do do .July 1, 1905 1,000 1891 608,000 5 g. .J. & .J. Phila., Of., 233 S. 4th St. .Jan. 1, 19 41 50 ...... Phila., Of., 233 S.4th St. Dec. 9, 18 89 1,258,150 3onpref. A."°it:·o. 1,000 do 497,000 do 6 1879 Oct. 1, 18 ~9 1,000 1881 do 1,000,000 5 &6 .J. & .J . do .July 1, 19 11 1,000 100,000 .J. & .J. do 1891 do .July 1, 19 11 5 1867 500 &c. 350,000 Feb. 1, 1897 IF. & A. Phila., Penn. RR. Co. 6 1,000 New York City. 1889 3,450,000 .Jan. 5, 19 09 5 g. ,.T. & J. 100 1 5,000,000 See ~ext. I ........ N. Y., Gr'd Cent. Depot. Sept. 1, 1893 l,000 13,923,600 1878 N. Y.d~nion Tr~t Co. Jan. 1, 1908 M. & S. 5 1883 1,000&c 5,650,000 Mch. 1, 1913 100 A. & F. an. per 5 Wall St. &Lon. Feb. 17, 18 93 N. 65,000,000 -··· £100&c 1,823,333 5 & 6 j Various Y., 59 Montreal. 1899 & 1910 '82-;83 A. & 0. 5 do 7,000,000 1902 & 1904 3,426,000 5 g. A. & O. Montreal,N. Y.or Lond'n Oct. 1, 19 31 1881 500.&c. 5 g . .J. & .J. London, Baring B. & Co. July 1, 19 15 1885 £100 &c 34,99 ,633 3,650,000 do 5 g . .J. & .J. do 1888 £100 &c .July 1, 19 37 do 312g. J. & J. do 1888 £100 &c $15,000,000 .July 1, 19 38 £7,182,125 .J. & J. London, Comp'ys office. Irredeema.ble 4 1889 1:000 $2,544,000 5 g. J. & J. N. Y., 59 Wall & London .June 1, 19 34 1884 5 g . .J. & .J. London, Baring B. & Co. Jan. 1, 19 37 1887 £100&c £1,330,000 ..... A. & 0. do 5 do £99,600 Apr. 20, 19 04 £50&c (6) 4 15.J.&D. Can. Pac. office, London. .June 15, 19 10 £200,000 London. and Montreal D. & .J. . $100 an per 6 $2,000,000 Dec.1892 ··-· J. & D. Lonclon, Morton, Rofle. Irrert.eemab 5 ---- £4,007,381 ---- j_- i876 8TOCK.-Authorized, $30,000,000; outstanding, $5,500,000; par, $100. The Rock Island Co. is understood to be a larg.-1 stockholder. DIVIDENDS-First dividend (112 per cent) was paid in February, 1893 . BoNDs.-Iowa City & Western bonds are guaranteed as to interest and are subject to call at 105. Cedar Rapids Iowa Falls & Northwestern bonds are guaranteed, principal and interest, and so endorsed; the 6s are subject to call at 105. Of the 5 per cents $825,000 are reserved to retire tile 6s. The Central Trust Company is trustee of the Burlington Cedar Rapids & Northern consolidated mortgage, under which suffi"<lient bonds are reserved to retire, if deemed best, all prior and divisional bonds. Bonds for extensions may be issued under this consoli-dated mortgage at $15,000 per mile for single track and $7,500 p r mile for second track, the tota.l authorized issued not being limited. Minneapolis & St. Louis bonds due .June, 19~7, numbered from 1,101 .t,o 1,400, for $500 each ($150,000 in all), were assumed by the Burlington Cedar Rapids & Northern Railroad. Due on equipment January 1, 1892, $255,057. Consol for $528,000 were is ued for new <)()ustrurtion in December, 1892. LATEST EARYrNGS.-January 1 to Nov. 30 in 1892 (11 monthfl), gross, $3,941,435, against $3,491,383 in 1891; net $1,057,939,against $1,122,.393. ANNuAL REPORT.-Fiscal year ends December 31. Annual meeting ts held on last Tuesday in May. Report for 1891 was in V. 54, p. 64:1. 1891. 1890. 1889. 1888. GToss earnings ...... $2,848,076 $2,986,543 $3,303,982 $3,886,340 $816,147 $1,272,696 $808,609 Net earnin~s ......... $T71,447 24,410 105,256 96,308 61,282 Other receipts....... Totalnetincome . .. $332,729 Interest on debt ...... $771,130 Const'n, eqnip., &o... 247,669 $904,917 $771,130 154,128 $921,403 $775,479 150,314 $1,297,106 $778,055 632,871 $925,793 $1,410,926 $925,258 Tot disbursem'ts $1 018 799 ' ·· ' · Balanoe. •········ .. def.$186,070 def.$20,34.1 def.$4,390 def.$113,820 -(V. 52, p. 640; V. 54, p. 641; V. 55, p. 1036). CallCornta Paclflc.-Owns from Vallejo, Cal., to Sacramento, Cal., 60 miles; branches to Calistoga, &c., 55 miles; total, 115 miles. In November, 1886, leased for 50 years to Southern Pacific Company. Rental, $600,000 per annum and three-fourths of net earnings when m excess of that amount. Cn.pital stock, $12,000,000; par, $100, In 1891 gross earnings $1,528,747; net, $759,525, against $544,780 in 1890; taxes, etc., !il·16,455; rental, $600,000; surplus to lessee, $113,069. Lessor's account, rental, $600,000; paid interest, etc,, $328,820; -extending 2d mortgage bonds, $100,420; surplus to lessor, $170,759. Cambria & Clearfield.-To run from Cresson on the Pennsylvania RR. into the coal fields of Cambria, Clearfield and Indiana counties, Pennsylvania; in operation from Cresson to Bruoaker .Junction, 26 miles; Brubaker .Junction to La .Jose, 9 mile ; branches, 26 miles; total, 61 miles. Stock-authorized, $2,150,000 (par $50); paid in $750,000, all owned by the Pennsylvania RR. Co., which pays net earnings as rental. A full abstract of the mortgage was in V. 52, p. 976. In 1891 on 40 miles net earnings were $35,283. (V. 52, p. 973, 976.) Camden & A.tlantlc.-Owns Camden, N. J. to Atlantic City, and branch, 62 miles; Atlantic City to Longport, 6 miles; Philadelphia Marl• ton & Medford Railroad-Haddonfield to Medford, 12 miles; Chelsea Branch RR., 1 mile; ferries, 2 miles; total operated, 83 miles. STOCK, ETc.-Preferred stock is entitled to 7 per cent if earned, and to as high as paid to common if more than 7. Pennsylvania Railroad owns $234,100 common and $451,950 preferred stock, and there was due that company .January 1, 1892, $275,000; bond and mortgages -outstanding, $88,300. Dec. 31, 1892, $490,000 1 t 7s matured and were paid, and $500,000 consol. 5s were issued. DIVIDENDS since 1880: On common, in 1882, 3 per cent, and none · · 1882 4 in 1884 7 in 1887 since· on preferred in 1881 3 1 - in ' ' ; ' ; scnp; m ' ~ ' , ' 5; in 1888 '212; in 1889, 3; none since (prior to Dec 16, 1892). EARNPiGS.-From .Jan. 1 to Nov. 30, 1892 (11 months), gross earnings ·On mainline and branches were $767,841, against $761,170 in 1891; net, $150,071, against $167,715; interest, rentalsl i-tc., $96,043, against $97,741; balane», surplus, $54,028 against $69,974. On main line and branches in 1891 gross earnings were $800,970; net, $151,718; interest on bonds, $92 620; other interest, $17,827; rentals etc $16 024 balance surplus $25 245 (V 54 p ,.,.20 ) · ' · ' · · ' ' ' ; ' ·• ' Cainden & Bul"llngton Oounty.-Owns from Camden, N . .J., to Pemberton, N . .J., 23 miles; branch, Burlin~n, N . .J., to Mount Holly, '7 miles; total, 30 miles. Operated by tne Pennsylvania Railroad, 6 per cent on stock and bonds. Stock. Lease rental, $44,415, beini? ~ $381,925; par $25. Dividends in .January and .July. (n 1891 gross, $273,176; net, $63,787, against $76,745 in '90; profit to lessee, $19,372. Canada Atlantlc.-Owns Ottawa, Canada, to Rouse's Point, Vt. 142 miles, with trackage over Central Vermont to St. Albans, 24 miles. Leases for 99 years the Centi-al Counties Ry., extending from Glen Robertson to Hawkesbury, 21 miles. Has traffic contract with the Canadian Pa-0itlc and "Boo" route. The Ottawa Arnprior & Parry Bound Ry. is projected by parties interested in this company from Ot· tawa t.o Parry Sound, 260 mile!I, of which 35 miles west to Arnprior to be built .in 1892. Trustee of mortgage of 1889 is Farmers' Loan https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t 1: & Trust Company. The bridge act·oss the St. Lawrence was completed Feb. 15, 1890. STOCK, $2,000,000 common and $1,000,000 preferred EARNINGS in year ending .Juue 30, 1892, were, gross, $570,697; net 201,420. In 1890-91 gross, $558,831. (V. 51, p. 493.) Canada Southern. -(See Map New York Oentral <I; Hudson Rive,· Ra,ilroad.J-Lern OF ROAD-Main line from Cantilever Bridge to Windsor, Ont., 226 miles; branch, Amherstburg to Essex Centre, 16 miles; Fort Erie Branch, 17 miles; Oil Springs Branch, 3 miles i St. Thomas, Ont., to Courtright, Ont., 63 miles; Erie & Niagara. 31 miles; Sarnia Chatham & 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 companies. ORGAXIZATIO~, COXTRACTS, Erc.-·rtie COtn]?any was chartered in Canada February 28, 1868, and debt read.justed m 1878. In Nov., 1882, a close contract was made with the Michigan Central for 21 years from .January 1, 1883, providing for the payment to Canada Southern of one-third the joint income over all fixed charges, but Mich. Central by reduction of its interest charges, received more than two-thirds The contract, however, provided for a re-apportionment every five years, and in December, 1892, it was agreed to give the Canada South ern 40 per cent and the Mich. Cent. 60 per cent of the first $1,000 000 of net earnings, any amount o,er that to be divided on the basls of one-third and two-thirds, as before. This addition to the Canada Southern's share amounts to just 12 per cent per annum on its capital stock. V. 55, p. 1078. DIVIDENDS since 1880-In 1881, 212 per cent; in 1882, nil; in 1883 and 1884, 2; in 1885 and 1886, nil; in 1887, 1888 and 1889, 21.g; in 1890, 312; in 1891, 212; in 1892, Feb., Hi, of which 12 extra; in Aug.,114; in 1893, Feb., 13,1 per cent, of which 12 extra. BoNDS.-Interest on the 1st mortga$e is gt1aranteed by the New York Central RR. Co. till 1898, but th 1 prmcipal is not guarant ed. EARNINGS.-From 1892's earnings the surplus to Canada Southern was (approximately) $401,000, (against $447,000 in 1891); other income, $27,000; balance income previous years, $218,417; total, $61~417; dividencls $450,000; total surplus Jan. 1, 1893, $196,417. l v. 55, p. 1077.) For latest reports of earnings see Michigan Central.-(V. 53, p. 968; V. 54, p. 9Z3; V. 55, p. 21, 1077.) Oanadlan Paclfic.-RoAD-Owns from Montreal to Vancouver on the Pacific Coa;;t in British Columbia, 21905 miles. There are branches and auxiliary lines owned of 991 miles, and 1,946 miles of leased lines; 56 miles used jointly; 781 miles operated independently for aocount of owners, includin~ the Calgary & Edmonton RR., of which 110 miles are under construction, makinit the whole system on January 1, 1892, including the New Brunswick .t{.ailway, 6,679 miles. (See details in CHRONICLE, V. 54, p. 847.) A line to Niagara Falls and branch from Pasqua, near Regina, to con nection with the Minneap. St. P. & Sault Ste. Marie (which se.,) affording a direct line from the West to St. Paul and Minneapolis, are under construction. Also controls Duluth South Shore & Atlantic-which see, HISTORY, ETC.-Incorporated February 18, 1881, under a charter from the Dominion of Canada. An important contract in its charter ga,re it from the Government $25,000,000 in cash as a subsidy, also 25,000,000 acres of land, all to be tit for settlement. The Ontario & QuebM, Montreal to Toronto Junction, 334 miles, was leased in 1883 for 999 years, and its stock and bonds guaranteed. ln .July, 1890, leased the New Brunswick Ry. for 990 years. -(See V. 51, p. 113.) STOCK.-In Nov., 1883, the Dominion Government ~ave a $Uarantee ot 3 per cent dividends per annum till Aug., 1893, on$6o,OOO,u00 stock. In 1892 the company obtained authority from the Dominion Parliament to issue stock in place of debentures for new aoquisitions,should the shareo immediate issue, it is said, holders at any time deem it advisable. is contemplated, as new stock cannot be is ued till the present sharee · are at par. See V. 54, p. 202 , 848 PRICE OF STOCK-In 1883, 48 7s1l>6512; in 1884, 39W5814; in 1885, 35¾c '@63-¼; in 1886, 611i>73; in 1887, 49121il683s; in 1888, 51141l>6214: in 1889. 4712'@75; in 1890, 6741il8414; in 1891, 7214'@9112; in 1892, 86@9412; in 1893 to .Jan. 20, inclusive, 8714@9014, DIVIDENDS paid-In 1883, 212 per cent; in 1884, 5; in 1885, 4; from 1886 to 1889 inclusive, 3 p. c. yearly; in 1890, 5; in 1891, 5; in 1892, 5; in 1893, Februa,ry, 212 per cent. BONDS, DEBENTURE STOCK, GUARANTEED BONDS, ETC.--In May, 1888, the company voted to rellng_uish its exclusive right to build and operate in Manitoba, receivmg the Dominion Government guarantee of interest on $15,000 000 of land grant bonds. Th.ese bonds for £3,093,700 are a lien on 15,444,200 acres of land sul j :c-t only to bl t 110 d t b d Of 1881 h' h $3 4260001 d · • w IC are re eema e a on s gran an of • '-t stock was ma.de in October~ debentt.u·e consolidated nrst issue The 1889 (see CHRONICLE, v. 49, p. 116). In .June, 1890, company ao-reed to guarantee the principal and interest of $20,000,000 4 per cents, to be issued by the Duluth South Shore & Atlantic; also 4 per cent interest on bonds of the Minneapolis St, Paul & Sault Ste. Marie. (See V. 50, p. 874; V. 51, p. 239; V. 52, p. 608.) To the Atlantic & Northwest Railroad, crossing_ the State of Ma~.~t fae Dominion Government grants a subsidy of ljll86,000 per year 1illl 1906 and Canadian Pacific guarani-a the balance of interest money. St. Lawrence & Ottawa bonds a.re endo:.-sed with the CanadianPS:Oiftc's a-0oept.ance of a 999 years' lease at a rental sufficient to pay 4 per oent 20 .l.NVESTORS' SUPPLEMENT. . [VOL. LVI. Subscribers will conCer a great favor by giving iJD.JDediate notice of any error discovered in these Tables. Bonds-Princi RAILROADS. INTERESTZOR ;DIVIDENDS. Miles Date Size, or Due ► Amount Rate per When Where Payable, and by pal,When For explanation of column headings, &c., see notes of of Par Outstanding Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. ·----- Canadian Pacific-( Ooneluded.J- Toronto Grey & Bruce, 1 st M.,!.old, int. a s rental. New Brunswick Ry.lstM.,gol ,int.fromrental. c* Perpetual consol. de bent. stock, int. §uar ... . ... Cape Fear & Yadki n Valley-Stock for$ ,000,000. 1st Mortgage series A, gold................ _... c• &r 1st M., Ber. "B," gold (2d on 233 m.) ......... c*&r 1st ., series C, gold (2d mort. on 225 miles.).c*&r Consolidatedmortgage $15,000 per mile,gold.c*&r South Car. Pacific (leased) 1st mortgage ......... . Carolina Oentral-Stock ........... .... . ............. 1st mort~age, gold, (Wilm. to Shelby, 240 m.) .. c* 2d and 3 mort!ages, 01d, income, non-cumul . . r 3 Carolina Oumb. ap & hi c.-lst M., fld ..... c*&r Carson & Ooloradtr-lst M., Ser. "A,"" "and "C.". Carthage & Adirondack-I st mort. for $800,000 ... 2d mortga-J: for $800,000 ......................... ef. stocks, 7 per cent. guar. P. & R ... Catawissa- fsi~1e ~~~~!siiiri.ea.·by i>iiiia<iei ·lria· &iiea<i:: l c:x,;:ga & lus¾:-Stock, 9 c. rental~. L. & W .... 0 r Falls & inn.-Bon son2ddiv. sink.fund.c* Cent. Br. U. P.-lst M. Atch. & P. P. RR., gold ..... c Fund int. (mort.) bds. (coup. held in trust) gold.c 2d mo~age (Government subsidy) ............... Central assachusetts-lst mortgage ............. c* Oentral N. Y.& Western-I st mort. for $1,000,000.c* Central Ohio-Stock ($411,550 of this is preferred). o~~J~i!}t~~~l~. ~f~~ ~~:~~~·~~?!. ~~:~~ ·:::.·.: 1st M.,ser. A to I, incl., gold (2 sink. f'ds) not dr'n 1st M. 8 . .Joaquin Val. Br., g. (s. f.) not drawn ...... 190 174 £719,000 4 g. .J. & .J. Toronto and London. £600,000 London. g. F . & A. £759,310 .J. & J. do do 1,960,400 $100 ..6.g. .J. ..&.i:>. N.Y.,Farm. L. & Tr. Co. 150 issi3 1,000 1,500,000 73 1886 1,000 734,000 6 g. .J. &D. do do 1,000 820,000 6 g. .J. &D. do 82 1886 do 1,000 A. & 0. 329 1889 1 ,868 ,700 gg. A. & 0. N. Y., 4th N. Bank, &c. 104,600 1012 1884 100 &c. 1,200,000 276 .. 6.g. .J. ..&...J. Balt. ,F'mers' &Plant.Bk 240 issi 2,000,000 1:000 240 1881 1,000 2,700,000 6 g. .J. & .J. 25 1882 1,000 375,000 6 g. M.&N. New York City. New York. 4,380,000 .J. & .J. 299 '81-'88 1,000 6 M.&N. Phil.Fidelity Ins. &c. Co. 43 1883 1,000 771,000 6 F. & A. do do 43 1889 1,000 .182,000 6 50 3,200,000 7per an. M.&N. Philadelfilra Co.'s office 98 F. &A. Philad.P . a.&Read.Co. 7 93 is10 500 &c. 1,300,000 F. & A. o do 230,500 6 1882 ..30 "34 589,110 9 per an . .J. & .J. New York, 52 Wall St. 1,377,000 7 .J. & .J. Last paid .July, 1887. 61 i866 500 &c. 1,000 1,600,000 6 g. M.&N. N.Y.,Un. Tr. Co. &Bost. 100 1865 do do 1,000 7 g. M.&N. 630,000 100 1879 U.S. Treas., at maturity. 1,600,000 6 100 '66-7-8 1,000 A:·&--0. Boston Office & Int. Tr. 1886 1,000 2,000,000 5 99 m 5 g. .J. & J • N. Y , Central Tr. Co. .... 1892 1,000 Balt., at B. & 0. office. & .J. 2,860,048 6 per an . .J. 50 144 1,000 2,500,000 412 g M. & S. N. Y., Union Trust Co. 137 issi3 N.Y., S.Pac.Co.,23Br'd. 100 67,275,500 2 per an. F. & A. do do 6 g. .J. & .J. 737 1865-8 1,000 25,883,000 do 1,000 6 g. A. & O. do 6,080,000 146 1870 ---338 1883 1884 ...... £100 £100 ---- i .July 26, 2882. Aug.1,1934 Irredeem able. 1; ·i916 .June· .June 1, .June 1, Oct. 1 , Oct. 1, 19Ht 1916 19191914- 1; .Juiy · .i920 1910 & 1915 Nov. 1, 1912 1911,-'13·'18 Ma-y 1, 1923Feb. 1, 1925 Nov.19,1892 Aug. 1, 1900Aug. 1, 1902" .Jan. 2, 1893.Jan. 2, 1907 May 1, 1895 May 1, 1895 1896, '97, '98 Oct. 1, 1906 .Jan. 1, 1943 .July 30, 1892 Sept. 1, 1930 Feb. 1 1893: 1895,'96,'7 &'8 Oct. 1, 1900 1 I$117,311; deliclli, after payment ot ta..x:es-1 $16,991; rental,{$113 , 370:;., loss to lessee, 8130,362. J. Kennedy Toa. President. nterest on bonds, and the bondholders' agreement to accept interest at 4 pe~ cent (instead of. 6 per cen~ as form_erly), and to refrain from demanding payment_of prm!}Ipal durmg ,<?ontinuance of lease. The New Brunswick RailwaY: consoildated debenture stock has interest guaranteed by C. f.; interest on the fhst mortgage bonds, though not guaranteed, is paid out of rental under 990 year lease. LANDs.-Lands unsold Dec.31, 1891, were 15,444,200 acres of Can• adianPacificgrantandl,267,308 acres of Manitoba Southwesterngrant. Total sales in 1891, from both grants, were 97,240 acres for $414,945. GENERAL FINANCES.-ln addition to 3 per cent dividend guaranteed by Government till August, 1893, 2 p. ct. has been paid out of earnin gs each year since 1889. In 1892 company issued £2,984,125 consol. debenture stock · LA.TEST E.ARNINGS.-.Jan. ~ to Nov. 30 in 1892 (11 mos.) gross $19,515,223, agst. $18,326:282 m 1891; net, $7,599,561 agst. $7,127,_463. ANNu.A.L RErORT.-Fiscal year ends J?ec. 3 L Annual meeting is he~d at M_ontreal on the second Wednesday m May. The report for 1~91 m full m the CHRONICLE, V. 54, p. 823, 843, 847, showed the following: 1889. 1890. 1891. Miles operated December 31.. 5,029 5,568 5,678 PaseengerearniD.gs ........... • $4,520,741 $4,774,714 $5,459,789 Freight........................ 8,852,202 10,106,644 12,665,540 Mall,e:xpr'ssandmiscellaneous 1,657,717 1,671,171 2,115,767 Total earnings .............. $15,030,660 Operatinge:xpenses............ 9,024,601 $16,552,529 10,252,828 $20,241,096 12,231,436 Net earnings .................•.. $6,006,059 $6,299,700 $8,009,660 Per ct. of oper. exp. to earn'gs. 60·04 61 ·94 60·43 Fixed charges .................. $ 3 , 779 ,133 $ 4 ,2 4 6 , 6 1 7 $4, 6 6 4 •4 93 1 •3 0 0 ' 0 0 0 1 ' 3 0 0 ' 000 65 0,000 Supplementary dividend s..... Balance.................... $1,576,926 $753,083 $2,045,166 -(V. 54, p. 202,587,799,823, 843, 84'7. 887; v. 55, p. 100, 297.) Cape Fear & · Yadkin Valley.-In operation from WilmiD.gt.ol_l, N. C., to Mount Airy, 248 miles; Fayetteville, N. C, to Benne«.Sville, 8. C., 57 miles; Factory branch, 19 miles; Madison and Granite branches, 14 miles; totll,l, 338 miles, of which 10 miles from State line t,o Bennettsville leased from South Carolina Pacific Railway. STOCK authorized, $3,000,000; outstanding, as in table above, of which July 1, 1892, North Star Improvement Co. held $1,608,000. BoNDs.-First mortgage (trustee Farmers' Loan & Trust ~o.) is in three series, each a first lien on one division of the road and a second lien on the otner divisions. North State Improvement Co., virtually the owners of the road, hold the $1,868,000 consols outstanding, and have agreed not to draw interest upon them unless fully earned. ANNUAL REPORT.-Fiscal year ends .June 30. Report for 1891-92 in V. 55, p. 1034, showing gross earniD.gs $550,552; net, $196,591; obli· gatory interest charge, $183z.240. In 1890-91, gross, $589,829; net, $239,458. (V. 53, p. '7 52; V. o5, p. 1V34. Cape Girardeau Southwest.-SEE BT. LOUIS CAPE G. & F. 8. Carolina Central.-Owns from Wilmin~n, N. C. to Ruther• fordton, N. C., 267 miles, except 3 miles 'leased; and branch, 9 miles; total, 276 miles. Defaulted 1n 1876 and sold in fore• closure May 31, 1880. Controlled by Seaboard & Roanoke and Raleigh & Gaston. Stock, $1,200,000; par, $100. In year ending June 30, 1892, gross earnings were $505,634; net, $115,206; interest, rental~ ~c.1 $163,218; balance, deficit, $48,012, against surplus in 1890·91 of ;p-45,429. There are also $160,000 first mortgage 7 per cent Wilmington Railway Bridge Co. bonds, due October 1893 to 1897, aver• aging $31,000 yearly. and $46,000 second nortgage 5s, due Oct. 1, 1898 and 1899, both issues guaranteed by Carolina Central, Wil. Col. & Aug. and Wil. & Weldon roads. Net current liabilities July 1, 1892, $219,718. (V. 53, p. '712.) Catawissa.-Owns from Tamanend, Pa., to Williamsport, Pa., 93 miles; branch, Summit Station to Silver'!- rook. 4 miles ; total operated, 98 miles. Leased from November 1, 187:l, for 999 years to Philadelphia & Reading. Rental, 30 per cent of gross earnings and $8,000 a year for company expenses. Funded debt was assumed by lessees. There are also chattel mortgage 5s due 1900 $24,500; 7 per cent construction bonis due June 1, 1917, $62,000, and other bonds, $185,000. Seven per cent is guaranteed on preferred stocks, of which $2,200,000 is first pref. Common stock, $1,159,500, var $50. In 1890-91 rental $338,830. Cayuga & Susquehanna.-Owns from Susquehanna River to Ithaca, N. Y., 34 miles. Charter expires in 1899. Leased till then to Delaware Lackawanna /fT Western at a rental of $54,600 a year. Diviends in 1891, 912 per ce1i-,, Cedar Falls & Minnesota.-Owns from junction near Cedar Fa.Ila, Iowa, to Minnesota State Line, 76 miles. Leased to Dubuque & Sioux City fo 40 years from .January 1, 1867, at minimum rental of $113,370 vei- nnum. In 1887 a suit was brought to annul the lease of this road, and in October, 1890, the United States Circuit Court decided lease was valid. Bee V. 51, p. 493. Case has been appealed to the United States Supreme Court. Interest wae defaulted .January, 1888, ·and rental is pa.id into court pending litigation. The Dubuque & Sioux 'City is controlled by the Illinois Central. Stock, $1,586,500, par $100. EARNING.-ln year ending .June 30. 1892, :~.-. 0. .,,...,.ning,, were https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 Ct,ntral Branch Uuion Pacific.--vwns :rrom Atchison, Kan., to, Waterville, Kan., 100 miles; leases Atchison Colorado & Pacific, 254 miles; Atchison .Jewell County & Western, 34 miles; total operated,. 388 miles. This company was formerly the Atchison & Pike's Peak RR. and had a United States subsidy of $1,600,000. Controlled by Union Pam.fie, but leased to Missouri Pacific for 25 years from Sept., 1885; ren:tal, net_earnings. STOCK is $1,000,000 (par, $100), of w~ch the Ulllon Pacific owns $874,200; accoun1!5 payable, $1,052,845; interest on Government loan accrued and ~paid .Jan. ~1 1893, $1,868,106. DIVIDENDS.-ln 1885, 5 per cent, m 1886, 10, m 1887, 1~. EA.RNINGS.-.Jan. 1 to Nov. 30 (11 months), gross earrungs $1 , 226, 9741n 1892, against $773,918 in 1891; net, $464,200, against$170 ,420. In year 1891 deficit under charges, $243,189. In 1890, gross, $974,472. Central lUassachnsetts.-Owns North Cambridge to Northampton, Mass., 99 miles. Formerly the Massachusetts Central, sold in foreclosure September 1, 1883. The stock is $7 419,202 (par $100), of which $3,949,102 is preferred and controls the company until 8 per cent dividends shall have been earned thereon in any one year. Leased to Boston & Loweill'or 99 years from October 1, 1886, at a rental of 20 percent of grossearnin~supto $1,000,000, but with a guarantee of sufficient rental to pay mtereRt. New issue of bonds proposed. It is said the road will be double·tracked. (V. 53, p. 753.) Central New Tork & -Western.-RoAD-Belfast, N. Y., to Perkinsville, 42 miles; branch to Hornellsville, 11 miles; Anglica, N. Y,P to Olean (narrow guage), 39 miles; total, 92 miles, of which only a part. has of late been iD. operation. Successor in December, 1892, to Lackawanna & Southweo1tern, sold in foreclosure in 1892. See V. 55, p. 877. Stock authorized, $1,000,000. Central Ohio.-Owns from Bellaire, Ohio, to Columbus, Ohio, 137 miles; operates St. Clairsville branch, 7 miles. The road between Newark and Columbus (33 miles) is owned jointly with the Pittsburg Cincinnati & St. Louis Railroad Co. LEASED to the Baltimore & Ohio, till 1926, with option of renewal by the lessee ; rental, 35 per cent of gross earnings, with minimum guaranteed rental of $166,000. DIVIDENDS on common stock since 1880 have been: In 1881, 61g ;. from 1882 to .July 30, 1892, both inclusive, 6 per cent yearly. EARNINGS.-ln 1891-92 gross, $1,419,931; net, $285,999, against $187,542 in 1890-91; all charges in 1890-91, $509,072; loss, $321,530. Central Pacific.-(See Map of Soitthern Pacijic.J-Lnm OF RoAD.-Main Line-San Francisco, Oaf., to Ogden, Utah (including 11 miles leased), 883 miles; Lathrop to Goshen, 146 miles; Roseville .Junction to Oregon State Line, 296 miles; other lines, 35 miles; total operated and accounted for .January 1, 1892, 1,360 miles. THE CHARTER, LEASES, &c.-A consolidation (August 22, 1870) of the Central Pacific (organized October 8, 1864), etc. Toterest is not payable on the Government subsidy loan till the bonds mature. The "Thurman" act of May 8, 1878, provides for payments yearly to the Government sinking fund. See V. 50,p. 276. January 1, 1893, on C. P. loan principal due Government was $25,885,120; interest, $30,089,320; on Western Pacific loan, principal, $1,970,560; interest, $2,722,984. Par value of securities in U.S. sinkingfund .Jan. 1, 1892, was$4,047,500. In March, 1885, the Central Pacific lines were leased to the Southern Pacific Oompany. The Central Pacific receives all its net surplus income above annual charp:es of every sort and betterments, and this net surplus income is guaranteed to be not less than $1,360,000 yearly, this sum beiD.g applicable to the payment of dividends. DIVIDENDS-In 1877, 8 per cent; 1880, 6; 1881, 6; 1882, 6; 1883, 6; 1884, 3; from Feb., 1888, to Feb., 1893, inclusive, 2 p . ct. yearly. BoNDS.-The sinking funds are invested mainly in bonds of tributary lines and accumula.te; the bonds are not called in. The sinking funds amounted .January 1, 1892, to $8,979,391. The 5 per cent mortgage bonds of 1889 are guaranteed principal and interest by the Southern Pacific Company; the mortgage is for $16,000,000, tlLe Metropolitan Trust.Co. of N. Y. being trustee. (V. 49, p. 340), and of the amount authorized $2,250,000 a1·.- rt'served to r.,tir~ at maturity any land grant bonds not redetmed from land sales, and $2,750,000 can be ap• plied only to the improvement or purchase of property on which the mortgagt, shall hav1, a first litn. The land grant 5s of 1900 are stamped with the Southern Pacific guaranty of principal and interest. THE LAND GRANT.-Tbe total land granted the Central Pa-0ific and the California & Oregon companies was about 12,000,000 acres, of whioh a.bout 2,812,000 acres had be~n sold to December 31, 1891. Bales in 1891, 71,313 acres for $290,103. Land contracts on hand .January 1, 1892, $1,187,802; cash, $366,562; notes of Cent. Pa.P- · ~R., $2,000.000. 0rJl;RATIO:ists, FINANCES, &c.-Dividends of 2 per cent yearly have been paid regularly under lease since Fob. 1, 1888. From Jan. 1 to Oct. 31, 1892 (10 mos.), gross earnings were $12,434,711, against $14,103,671 in 1891; net, $5,022,225, agst. $6,484,324. In 1891 gross earnings $16,629,104 (agaiD.st $15,937,004 in 1890); net, $7,417,354, against $6,061,986 in 1890; net profit under the I-ease,. $2 1144,425, agaiD.st $999z.223 in 1890; other income, $8,400; dividends paid (2 per cent), $1,345,olO; surplus, $807,315; Thurman Act requirement for former years, $334,754. Land sales used for redem:ptidn of land bonds, $352,771. Total surplus income to .January 1, 1892,. $3,407,858.ll(V. 53, p. 604,639; V. 54, p.~884,f.}64.)BiiftE.ll!I~~ C'l.l t:'1 0 0 ~ C'l.l Q I MAP OF~ ,....., O':) ~ IX) o-4 ~~ ij https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis L F 0 F INVESTORS' ·SUPPLEMEN1-. rvoL. LVI. Subscribers urlll confer a great favor by giving hnmedlate notice of any error discovered in these Tablelil. I ] R.,ULROADS. Mil D t Siz INTEREST OR DIVIDENDS. JBalonWhds-Pr~ciea a e e, or Amount 1 - - - - - - - - - - - - - - - - - p , en ..vu.e~ For explanation of column headings, &c., see note~ of of Par Outstandin"' \Rate per When •\Where Payably, and byl Slocl;s-Last on first page of tables. Road. Bonds Value. I ° Cent. Payable ·w hom. Dividend. (}enfrat PaC'ific-(Goncluded).- - - - ----· - - - -:- - - - - - - - - U. S. Loan (2d lien on certain terms) gold........ 737 Western Pacific, old issue, gold.................... 147 Western Pacific 1st mortgage, series A &B., gold. 147 Western Pacific, Government lien, gold........... 123 Cal. & O. lat M., ser. A, g. (exte'd) { a. f. yearly, 296 Do do ser. B, g. (exte'd) >not drawn. . 296 Land grant 1st M., gold, guar., extended in 1890. . . . . RR. land grant bonds, gold........................ . . . . Mort. gold, 5s, 1939, Id. gr.,g_uar., a. f., not dr'n.c 1,261 Notes due land grant fund ($500,000 due yearly.) .... OentraZRR. &.Banking Co. of Georgia-Stock...... .... General mortgage"tripartite" bonds ........... c* 620 Consol. mort. for $13,000,000, gold,red. at 110.c~ 311 Collateral trust bonds, gold, redeemable atllo.c~ Certs. of debt, payable at option.................. . Equip. notes on Oct. 1, 1892, incl. int. to maturity Ocean 88. Co. 1 t mortga~e. gold, guaranteed. .. c HobokenWharfnotes, includingint.tomaturity Savannah & Atlantic 1st mortgage, assumed... c· 1 Cent. RR. of N. Jersey-Stock ($30,000,000 author.) Bonds.,.secured by consolidated mortgage of 1874I Consotldated mortgage (now first mortgage) ... c* Con'Vert. debenture , convert. into stock till 1907 Long Branch & Sea Shore, 1st mortgage ........ c* N. J. Southern lat mortgage .................... c*I N. Y.&L'gBrancblstM.,red.in1899atllO,g .c* General mortgage, for $2,500,000 ...... .. ...... Cenp.RR.ofN.J.:z Gen.mort.for$50,000,000,g.,c&r Lehigh Coal & .r-iav., mortgage, gold, assumed.... 1 Am.Dock&Imp.Co.lstM., guar., redeem. atllO.c"i Real estate bond and mortgages .................. I .... ..... I .... 1 ~;':;~~::~. .......... 1 eutral Se,curities to be reliredr-- ..... I Railroad & Bank.Ing CoJDpan.y of Georgla.(See Map)-Owns from Savannah, Ga., to .Atlanta, Ga., 294 miles; branch , Gordon t-0 Milledgeville, 17 miles; Savannah & .Atlantic RR., 18 miles; leases in perpetuity-Augusta & Savannah Railroad, 53 miles; Eatonton Branch Railroad, 22 miles ; Southwestern Railroad and branches, 33::J miles; leases till 1985 Mobile & Girard Railroad and extension, 122 miles; contTOla by ownership of stock-Savannah & West. RR., 622 miles; operate;, Montgomery & Eufaula, O miles; Macon £ Northern , 105 ruiles; total operated directly June 30, '92, 1,666 miles. .A nxiliary system (the earnings of which are reJ!orled separately) includes, Western Railroad of Alabama, 138 miles; Georgia Railroa<!J 314 miles; Port Royal & Augusta, 112 miles; Atlanta & West Point, 8·, miles; Port Royal & Western Carolina, 227 miles; ·wrightsville & Tennille RR., 35 miles; UJ!SOn Co. RR., 16 mile ; Gainesvill Jeff'. & So. RR. 65 miles ; embracmg in all 994 miles. Grand total 30, 1892, 2,660 miles. Al o Ocean SS. Co., estimated as equiyalent to 300 miles of railroad. See separate tatements for each. HISTORY RKCEJVER HIP, &c.-This road wa wa opened in 184346. In 1886 the Richmond & West Point Terminal Company became the bolder of a majority of the stock and thereby exercised control until .April, 1892, when the U. S. Circuit Court at Macon decided that the Terminal Company as a corapeting interest had no right to vote the stock which it holdl'I, and appointed receivers. The permanent receiver is H. M. Comer. In January, 1893, the President of the Richmond Termit al gave notice that that company, as a, majorit stockholder, would contest any reorganization of the Ccnt'l of Georgia, to which its con ent wa not obtained. See V. 56, p. 2. The Receiver. of the Richmond & Danville obtained an attachment in January, 1893, against the property of the Central of Georgia in New York City, in an action to recover $1,213,405 for sums advanced towards payment of interest, etc. ee V. 56, p. 82. Counter claim are et up. CoUPONS IN DEFAUT,T.-Default was made on Central of Georgia coupons due July 1, 1892, and on September 1 Savannah & Westeru, Cbattanoo~a Rome & Columbus and Savannah & Atlantic coupon went unpaid. The coupons on the Central or Georgia collateral trust bonds, however, due November 1 were paid on demantl. On January 1, 1893, Port Royal & Augusta coupons were paid but Augusta & Knoxville, Columbus & Rome, Columbus & Western, Rome & Carrollton and Montgomery & Eufaula coupons went to defa.u lt. Ocean Steamship coupons due Jan. l, 1803, were paid Jan. :zo. (V. 56, p. 42.) REORGANIZATION PLAN.-On Jan. 10, 1893, was issued a reorganfaation plan. It provides for the formation of a new consolidated comp any which ~hall issue forthwith (1) $40,000,000 of ,1 per cent 100-year mortgage gold bond ; (2) $25,000,000 preferred stock, and (3) $25,000,000 common stock. Of these amount $3,744,800 bonds,$ l,530,· 560 preferred and ~112,130 common will be reserved for reorganiza tion expenses and bettt"rments. The balance will be used in retiring old aecuritiel'I, each iF<sue to receive the percentage of it face value iii stock and bond" t:1at i ; sh )Wn in the table below: t ---1 . .... . . . . $25,883,000 6 g. J. & J. Uruted States Treasury. 1895 to 1898 1865 $1,000 111,000 6 g. J. & D. N.Y., S.Pac.Co., 23 Br'd. Dec. 1, 1895 1869 1,000 2,624,000 6 g. J. & J. do do J u 1y 1., 1 8 9 9 1869 .... 1,970,000 6 g. Various United States Treasury. 1 8 9 5 6t 1 8 9 9 1868 1,000 5,982,000 5 g. J. & J. N.Y., S.Pac.Co., 23 Br'd. Jan. 1, 1918 1872 1,000 4,358,000 5 g. J. & J. N.Y.,S.Pac.Co.&London Jan. 1, 1918 1870 1,000 3,550,000 5 g. A. & 0. do do Oct. 1, 1900 1886 1,000 56,000 6 g. A. & 0, do do Oct. 1, 1936 1889 1,000 11,000,000 5 g. A. & 0. N. Y. & San Francisco. Apr. 1, 1939 . ... 1,500,000 4 .. ... New York. oct.1,'93to'96 100 7,500,000 See text. ..... Jan.,_'92, div. lastp~d. Jan., 1892 1872 1,000 4,999,000 7 J. & J. Jan.,'92,coup. lastpaid. 1 Jan. 1, 1893 1890 1,000 .A.a collateral! 5 g . 1A. & 0. ....... ... .Apr. 1, 1937 1887 1,000 4,880,000 5 g. IM. & N. N. Y., Security & Tr. Co. May 1, 1937 1881 100 4.,600,000 6 J. & J. Jan.,'92,coup, last paid. 1After July, '91 .... .... 872,439 N. Y., Atlantic Trust. 1892 to 1897 1890 1,000 1,000,000 5 g. J. & J. .Y., Security & Tr. Co. July 1, 1920 ... .... 287,935 1893 to 189i 1 i890 500 &c. 250,000 5 IM. & S. Mar., 92,co~p. lastpaid. Mch. 1, 1920 100 1 22,46 ,000 7 per an. Q.-F. SN. Y., Office, corner c Feb. 1, 1893 1872 1,000 1,167,000 7 M. & N. { West & Liberty Sts. S Nov. 1, 1902 1874 1,000 3,836,000 7 do do July 1, 1899· 1 Q.-J. 1883 1,000 I 494.,000 6 M. & N. do do May 1, 1908 1869 1,000 197,000 I 7 J. & D. do do Dec. 1_, 1899' 1879 600 411,000 6 J. & J. do do July lo, 18991882 1,000 1,500,000 5 g. ,T. & D. do do Dec. 1, 1931 1892 .... • • • • • • • • • • do do ....... . 1887 500 &c. 1 36,460,000 1 5 g. Seetext. do do July 1, 1987 1867 500 &c. l 2,310,000 6 g. J. & D. Phila.,Leh.C.&Nav. Co. Dec. 15, 1897 1881 1,000 4,987,000 1 5 J. & J. N. Y., Cent. RR. of N. J. July 1, 1921 232,522 5 IVarious clo do Various dam se;: !f.' :~·'ft: i~ 1 ~~: DrnDEND .- In 1882, 8 per cent; in 1883, 7¼; in 1884, 5¼; in 1885,. 4; in 1886, 6 ; from 1887 to December, 1890, at rate of 8 per cent pe:rannum; in June, 1891, 3¼; in 1892, January, 3¼; none since. GENERAL FIN.ANCES.-This road was lon/L one of the most prosperousin the South. After passing into the Kichmond Terminal system It ran up a considerable floating debt for new com;truction on the Savannah & Western, &c., and in 1892 receivers were appointed, ANNUAL REPORT.-Fiscal year ends June 30. Report for 1891-92 in V. 55, p. 805, gave operations of the property under the rec,eivership from March 4 t-0 September 30, 1892, as follows. Jiarch 4 to Sept. 30, 1892. Ea1·nings. Expensetr. Central Railroad .............. ... ... .. ...... $1,260,735 $830,735 Augusta & Savannah....... ... . .. ........ .. 120,040 81.80!> outhwestern, Georgia...... . . • . . . . . . . . . . . . . 470,533 484,928' Montgomer_y & Eufaula..................... 138,968 137,579Mobile & G1rard............ . . . . . . . . . . . . . . . . 97,521 100,365 avannah & Western... ........... .. . ....... 651,454 680,366 avannah & .Atlantic....... ....... . . . . . . . . . 22,415 24,387 Macon & Northern. ......................... 7,641 7,525 tcamahip . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,190,285 1,039,991 Bank.................. . . . . . . . . . . . . . . . . . . . . . . . 8,979 8,254 ----- Total ..................................... $3,968,576 $3,395,937 et earnings, Central sy tern........................... $572,638 Los on three auxiliary roads (355 miles).............. $116,065The following shows earnings for a series of years: Year ending June 30. 1 87-88. 1888-89. 1889-90. 1890-91~ Mileage.... . . . . . . . . . . . . . . . 1,477 1,667 1,74.3 1,898 Gross earnings ............ 5,606,825 5,844,465 $6,847,997 $7,065,823 Net,incl.invest.&SS.earn. 2,869,417 2,553,638 2,400,536 2,263,687 Fixed charges ............. 1,601,134 1,668,729 1,896,193 2,084,471. Estimated fixed charges for year 1892-93, $2,721,097. -(V.53,p.674,713; V.54, p. 32,33,78, 443,485,525,560,844,965 V.55,p.21,22,58,14.5,503,543,805,937,977,lllO;V.56,p.42,82. ~ Cent1·al KR. of Ne-w Jersey.-(See MapJ-Operates 662 miles o · railroad, of which 156 miles are ow11ed, the remainder being mostly proprietar1 lines or operated under 99!>-year leases. In addition owns fer ries anu steamer lines, 21 miles; in all 681 miles. ORGANIZATION, ETC.-Chartered in 1849. From May, 1883, to Jan_ 11 1887, leased to Philadelphia &Reading. Receivers were in possession from January 1, 1887, till January, 1888, when the road went back to its owners. The terms of reorganization, etc., were given in the CHRONICLE V. 44, p. 714, 716. Dividends were resumed August, 1889,. and increased to 1¾ quarterly in August, 1891. Concerning the company's coal propertie see Lehigh & Wilkesbarre in "Miscellaneous." fn February, 1 92, the Philadelphia & Reading began operating the Central of New Jersey, under a 999 rears lea e, but in August, 1892'" the courts compelled the Central to resume possession of its property,.. ancl in F ebruary, l "93, the lease wa abrogatetl. See references below. DIVIDEND .-In 1883, l¼ per cent; in 1884, 4¼; in 1889, 3: In 1890, G; in 1891, 6¼; in 1892, 7; in 1893, February, ll:li (quarterly). PRICE OF TOCK.-ln 1883, 6814W90; in 1884, 37¼W90; in 1885. 31@ 52; In 1886, 4214W64; in 1887, 5518W8614; in 1888, 73¼W9514; in 1889, 92S~Wl31; in 1890, 90W128¼; in 1891, 10514W122l:lt; in 1892,. 111¼@145; in 1 93, to January 20, inclusive, 1227s@132. BOND .-Of the general mort. of 1887 (see abstract of .mort. V. 45, p. 402) $8,635,100 are reserved for other issues. Interest on the general mortuage coupon bonds is payable J. & J., on the registered bonds Q..-1': Trustee of consolidated and general mortgages is the Central Trust Company of New York. GENERAL FINANCES, &c.-The earning capacity of this company bas increased lai·g;ily since the reorganization in 1888. In June, 1892 $1,500,000 additional general mortg::1ge 5 per cent bonds were issued to construct and equip the Navesink Railroad, making the total amount listed $36,460,000. LATEST EARNINGS.-January 1 to Nov. 30, 1892 (11 months), gross~ $13,018,564, against $13,046,359 in 1391; net, $5,384,864, against $5,584,245. .AN.c UAL REPORT-I<'iscal year ends Dec. 31. Annual meeting is h eld on Friday next preceding second Monday in May. The report for 1891, in full, was in V. 54, p. 681, 684. (See also editorial, V. 54, p. 667.) Yew· ending Dec. 31. 1889. 1890. 1891. Passenger and freight ... .... ... $5,899,119 $7,051,524 $7,257,533 Anthracite coal.............. ... 7,344,539 6,725,696 ·, ,026,290 Mail, express, etc............... 253,736 349,343 369,864 ecured floating tlebt and equip. notes .. . 7,500,000 120 40 General tripartite mortgage bonds ...... 4,H99,000 120 -10 Collateral trust 5 per cent bonds ........ 4,880,000 100 25 20 Eatonton Branch tock.................. 167,900 100 50 30 Ocean St~amsbip Co. 5 per cent bonds .. 1,000,000 100 30 30 Columbu & Western 1st 6 per cent.·-·. 00,000 100 ,10 Montgomery & Eufaula 1st 6 per ceut .. 1,500,000 100 -10 Augusta & Knoxville 1st 7 per cent . .... 630,000 100 50 10 Augusta & Savannah 7 per cent stock ... ] ,022,900 100 70 '10 Certificate of indebtedness ......... ... . . -1,600,000 50 70 4.0 Columbus & Rome 1st 6 per cent..... . . . 200,000 60 50 50 8avannah & West·n 1st conFi. 5 per cent. 6,127,000 50 80 ,'50 Mobile & Girard 1 t 6 per cent.......... 200,000 60 70 Do 4 per cent............ . ....... . .... . 00,000 60 50 5• Southwe tern RR. 7 per cent stock ..... . 5,047,100 100 60 40 Savannah & Atlantic 1st 5 yer cent.... . 250,000 50 50 Georgia Central stock .................... 7,480.000 .... .. 200 The new prefern d stock will be entitled to recei vc, if earned, 3 per cent per annum, then common to 3 per cent, then both will share pro rata. It ls pro11osed that the mort~age shall give the right to crrnt e bonds, of the same eeries with a like lien, to the additional amount of $5,000,00(), to be issued from time to time in amounts not to exceed $1,000,000 in any year, for flirt.h er additions, betterments and im provem enu:; so that the n~t earnings of the new company may be devoted immediately to the payment of intere t upon the funded debt and of dividends upon the capital stock of the company. It is the object of this .Plan that the system shall be pre. erved in its integrity. Old securities assentini to plan are to be deposited with the Mercantile Trm~t. N. Y. See plan m full in CHRONICLE Of Jan. 21, 1 93, p. vi. of adv. No satisfactory terms could be offered to Chattanooga Rome & Colum bus and Macon & Northern bonds. Total gross earnings ... . .... $13,497,394 $14,126,563 STOCK.-Of the stock $4,220,000 i held by the Richmond & West Operating expenses and taxes . 7,531,737 8,161,276 Point Terminal, $220,000 in its own name and $4,000,000 in the namP of the Georgia Company, the entire capital stock of the latter beinoNet earnings................ $5,965,657 $5,965,287 held by the Terminal. A suit to cancel the agreement by which the Income from investments. . .... $799,238 $837,293 Terminal came into pos,:ession of this $4,000 000 stock at a price it i,- Premium account....... ... ... . . 322,753 olaimed, far Pxceecling its value was brought by the Receiver of the T'-.:rmiMJ in November, 1892. See V. 55, p. ·422, 938. Total net income ... ...... ... $6,764,896 $7,125,334 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~g ---------- $14,653,687 8,526,168 $6,127,519 $844,628 52,648 $7,024,79~ J1.NUABY, 1898.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD ~TOCKS AND BONDS. 23 OF NEW JERSEY AND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. [VOL, LVt. ,,, ~ '!·: i '!' MAP OF THE CENTRALIA & CHESTER RAILROAD COMPANY ~- RAILROAD STOCKS .AND BONDS. J ANO.ARY, 1893,] Snbscribe1.·s -will conCer a great Cavor by giving i•nnedia'te notice oC any error discovered In these Tables. Bonds-Prine!~ INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or pal,When Due. Amount Par Outstanding of F8r explanation of column headings, &c., see notes of When Where Payable, and by Stocks-Last R&te Whom. Road. Bonds Value. Cent. Payable Dividend. on :first page of tables. perl Central~ Soiith Oat·olina,-lst mortga~, gold . ... c Central ermont-Consolidated RR. of t. 1st M . .. Other underlying securities and liens ............. Cent. Vt. 1st cons<'l. n- • --~r $15,000,000 .. ... .. Centralia & Ohester-lst iu. tor $1,680,000, gold. c* Char. O.& Ohic.-Stock $25,000 per mile ............ Old 1st M., §,old, ($25,000 p. m.) to be retired .. c* Charleston & avannahr--Gen. M. ($1,500,000),g .. c• lilt and 2d pref. inc., $1,000,000 each, non-cum .. OharlestonSumter &North.-lstM.,$15,000p.m.,g.c Charlotte Oolitrnbia & .Augusta-Stock .............. . 1st mortgage consolidated ......................... 2d mortgage ........................................ Consol. mort., gold, for $3,000,000, see remarks.c Ohartiers-lst mortgage ............................ c Chatt. Rmne & Ool.-SEE SAV.ANNAH & WESTERN.Ohattanooga Soiith'n-lst M. ($15,000 p. m.) gold.c* Ohattanooga Union-Union Railway mortgages ... Chat. Union consol. mort. for $600,000, gold ... c* i>.m.;~r::riot-<Frii:c" ~~i~e,r.~fs1~~$i5;ooo ding, gold.c* Ohesapeake & Ohio--Purch. money 1st mortgage, gold, series "A" .................. c* 1st mortgage, of 1911, Peninsular Extens.,gold.c" lat mort., of 1922, on extension, gold ........... c"" 1st consol. mortgage for $30,000,000, gold .. c*&r Rich. &All Div. 1st consol. M., gold, (Seerem.).c' gold ............ c* do do Do Do 2d consolidated mortgage, gold ........•.... Craig Valley branch 1st mortgage, gold .... .... c• Warm Sprin~Branch 1st mort a e, fold ...... c* G~neral mo 3:ge (for $70,000, 0 , e c.) gol<;l .. c: Eliza. Lex. & 1g Sandy 1st m., g., guar. p. & 1.. c 88 40 185 ---· ...... ---· --·· ---- 121 121 150 ---- --- 1881 $1,000 1883 100 &c. ---1893 1889 --·· 1887 1886 1886 1890 ---- 191 191 ---· 23 1869 1872 1883 1871 96 1889 35 428 503 75 8 655 256 256 256 26 22 985 109 1887 1878 1878 1881 1882 1889 1890 1890 1890 1890 1890 1892 1872 ..... '85-'87 ...... 1888 ...... ....... ---· ---- 1,000 100 1,000 1,000 1,000 1,000 100 500 &c. 1 ,000 1,000 1,000 1,000 1,000 1,000 $300,000 7,000,000 4,000,000 (n (i) 6 g. J. & J. N. Y., Cuyler, Morgan. July 1, 1921 J. & J. Boston, Am. L. & Tr. Co. June 30, 1913 5 -----4 "i"g,fa" J . --&-· J. Bostoii;Arri."i-_-&-Tr. Co. 5 g. J. & J. N. Y., Farm. L. & Tr. Co. July 1, 1919 6,567,000 . ...... ........ Oct.; ·is9·0: iast· paid. 7,345,000 5 g. Q.-J. 1,467,000 7 g. J. & J. N.Y.,12 W.23 & Cha'st'n 2,000,000 7 ----·------------2,08 ~.ooo 6 g. A. & 0. -------------2,578,000 See text. N. Y.,C.Tr. Co., 54 Wall. J. .. J."_& 2,000,000 7 do do 7 500,000 A. & 0. do do 500,UOO t3 g. J. & J : do do 500,0()0 A. & 0. Pbiladelpma,Penn. RR. 7 1,440,000 200,000 400,000 . ..... 150,000 1,000 875,000 1,000 2,287,000 1,000 2,033,729 1,000 2,000,000 500 &c. 142.000 1,000 23,297,000 1,000 5,000,000 1,000 1,000,000 1,000 1,000,000 1,000 650,000 1,000 400,000 1,000 17,816,000 1,000 3,007,000 Juiy" 1,· "i947 Jan. 1, 1936 Irredeemable. Apr. 2, 1910 June 1, 1889 Jan. 1, 1895 Oct 1, 1910 July 1, 1933 Oct. 1, 1901 6 g. J. & D. I.June, '91,coup. lastpaid Dec. 1, 1919 J. & J. July,'91, coup. last paid J'y,'05-Jan.'07 6 6 g. J. & J. do do .July 1, 1918 J. & J. do 6 do 1920 5 g. F. & A. In default. Aug. 15, 1937 6 g. J. & .J. N. Y.,Drexel,Morg.& Co. .July 1, 1898 6 g. A. & 0. do do .July 1, 1908 6 g. A. & 0. do do Jan. 1, 1911 6 g. J. & D. do do .June 1, 1922 5 g. M.&N. do do May 1, 1939 2-4-g . .J. & J. do do .Jan. 1, 1989 4 g. J. & J. do do .Jan. 1, 1989 do do 4 g. J. & J. .Jan. 1, 1989 .July 1, 1940 do 5 g. J. & J. do 5 g. M. & S. do Mch. 1, 1941 do do 412g. M. & S. do Mch. 1, 1992 (6) :5 g. M. & S. do Mar. 1, 1902 do 1891. 1890. 1889. $149,501, against$137,664 in 1891. In year 1891 gross earnin"'s were I>isbu1·sernents$1,897,771 $137,664; net over operating expenses, $5,688. (V. 54, p. 158, 40'$. 525.) Rentals paid ..................... $1,890,381 $1,819,815 2,739,579 2,798,148 Interest on debt................. 2,828,632 Charlotte Columbia&: Angnsta.-Owns from Charlotte, N. C., Dividends ...................... (412)835,719 (6)1,117,092 (612)1,455,431 to Augusta, Ga., 191 miles; leases Atlantic Tennessee & Ohio Rall, Charlotte to Statesville, 44 miles; Cheraw & Chester, 29 miles;. road, $6,092,781 Total disbursements ........ $5,554,732 $5,735,055 $932,014 and Chester & Lenoh", 109 miles; total operated (including 10 miles of Balance, surplus ............ $1,210,164 $1,390,279 . Western North Carolina), 373 miles. -(V.54,p. 288,404,667,681,684,867,887,923; V.55,p.22,178, LEASED to Richmond & Danville in May, 1886, for net earnings. In 332, 373, 374, 680,722, 857, 938, 1110; v. 56, p. 82.) case of any deficiency in net earnings to pay fixed charges the lessee may advance the funds, such advances to be secured to it by a mo~ Central Ve1.·rnont.-RoAD.-Owns Windsor to Rouse's Point, 158 gage lien inferior only to that of existing mortgages. miles; Essex Junction to Burlington, 8 miles; Swanton Junction to BONDS AND STOCK.-The consols outstandin"' are guaranteed as to Province, 11 miles; Montpelier to Williamstown, 14 miles; other, 2 miles; total owned, 193 miles. LEASES Rutland RR-Bellows Falls to principal and interest by indorsement by R. &D.; $2,500,000 of this Burlington, 120 miles; Addison RR-Leicester Junction to Ticonderoga, issue 1s reserved to retire prior issues at maturity. Of the stock $1,15 miles; Montreal & Vermont Junction-Province Line to St. .Johns, 23 300,000 was deposited by Richmond & West Point Terminal under its miles; S. 8. & Cbambly RR.-S. S. & C. Junction to Waterloo, 43 miles; collateral trust deed of 1889. Dividends in 1888, 4 per cent; in 1889, 2. In June, 1892, the Richmond & Danville and the Richmond Terminal 01$:densburg & Lake Champlain RR.-Rouse's Point to Ogdensburg, 118 miles; New London & Northern RR-Brattleboro to New London, 121 went into receivers' hands, but interest on C. C. & A.'s bonds was paid u ual July 1, 1892, and Jan. 1, 1893. See those companies. as miles; Brattleboro & Whitehall RR., 36 miles; BUI·lington & Lamoille RR., 34 miles; Mi si squoi Valley RR. -St. Alban to Richford, Vt., 28 EARNINGS.-In year ending June 30, 1892, !?l'Oss earnings were miles; Malone & St. Lawrence, Malone, N. Y., to Beauharnois Junction, $865,306; net, $234,686; interest, $205,000; rentaYs, &c., $63,438; deQ•ebec, 32 mile ; total, 763 miles. ficit, $33,752. In 1890-91, gross, $992,748; net, $306,003; surplus HISTORY.-A consolidation in June, 1892, of the Central Vermont, above charges, $36,912. (V. 53, p. 843; v. 55, p. 764.) Vermont & Canada, Montpelier & White River and Consolidated RailChai-tie1·s.-Owns from Mansfield, Pa., to Washington, Pa., 23 miles. road of Vermont. Company owns $1,612,500 stock of the Ogdensburg Sold under foreclosure and reor~anized in 1867. Leased for 99 yea.re & Lake Champlain RR. The Rutland, theNewLondon & Northern anu from January 1, 1872, to the Pittsburg Cincinnati & St. Louis {now the Ogdensbmg & Lake Champlain are describerl under their own titles. Pittsburg Cincinnati Cmcago & St. Louis); the rental is net earrungs. STOCK.-Before consolidation the Central Vermont bad $1,000,000 In 1891 gross $273,091; net, $125,155; smplus over fixed charges $73,stock and the Consolidated of Vermont $750,000 preferred and $800,000 578; dividonds (712 per cent), $48,397; balance, $25,182. Capital common. stock, $645,300 (par $50), of which the Pennsylvania Railroad owns BoNDs.-A consolidated mortgage for $15,000,000 of 4 per cents is $333,850. Dividends since 1886 as follows: In 1887, 1888 and 1889, 5 authorized, of which $11,000,000 to take up prior secmities and $4,: per cent; in 1890, 512; in 1891, 712; in 1892, April, 4; October, 4. 000,000 used for improvements on enth·e system. Ohattanooga Borne&: Columbus.-SEE SAV.ANN.AH & WESTERN. ANNUAL REPORT.-Fiscal year ends June 30. Report for 1891-92 Chattanooga Sonthern.-Completed in June, 1891, from C.hatwas in V. 56, p. 41, showin~ total receipts, including steamer earnings, tanoo~a, Tenn., via. Alpine, Ga., to Gadsden, Ala., 86 miles, with $5,450,583; net, $1,664,891:i. Payments-Taxes, $120,590; interest on brancnes, 10 miles. In February, 1892, a receiver was appointed, and bonds, $357,751; interest on floating debt, $89,768; rentals, $881,294.: in March a reorganization plan was adopted. V. 54, p. 485. Receiver'11 Og. Transit Co., $80,551; total, $1,529,955. Balance, $134,1_940, out of certificates for $250,000 were authorized in May, 1892. Foreclosure which paid extraordinary expenses, $111,750.-(V.51, p. 6i:s0, 715; V. sale takes place Feb. 27, 1893. Consolidation with Marietta & North 53, p. 712, 880; v. 56, p. 41.) Georgia-wmcb see-was proposed in December, 1892. Receiver is J. W. Bourke. Stock authorized ($15,000 per mile), $2,000,000; outCentralia &: Chester.-( See Map.J-Cbartered to build from Ches• standin~, $1,440,000. (V. 54, p. 287, 485, 886; V. 55, p. 722.) ter, Ill., to Altamont, Ill., with branch to a pointoppo ite St. Genevieve. Chattanooga Union.-Owns 43 miles of belt railroad in Chatta• Total distance, 140 miles, including sidings. Road completed and in operation between Sparta and Centralia, 45 miles. At Centralia con- nooga, Tenn., connectin"' the ten lines entering that city. In September, $510,000 of the $1',000,000 capital stoclr was purchased by the 1891, $12,000 authorized, Bonds Central. Illinois the with made is nection per mile, covering roadbed, equipment and terminal facilities; stock Alabama Great Southern, and so is held in the interest of the East Virginia & Georgia. H. S. Chamberlain appointed receiver Tennessee and gauge standard is road The issued and subscribed for like amount. in Feb., 1892. MaJority consols deposited with Wm. H. Blackford, of is laid with 56-pound steel rails. Baltimore, Md., and large majority of underlying issues with H. W. Charleston Cincinnati &: Chlcago.-Projected from Sumter, Bartol, of Philadelphia (Drexel Building), pending foreclosure. From S. C., to Richardson, Ky., 510 miles, of wnich 175 miles between Cam- Jan. 1 to_ Sept. 30, 1891 (9 mos.), gi:oss earnin~s were $74,860, against den, S. C., and Mar10n, N. C., is now in operation, forming a through $86,570 m 1890; net, $22,099, agamst $33,78~. (V. 53, p. 407.) line, in connection with the South Carolina RR.. 290 miles in lengtb, Chesapeake &: Ohio.-( See Mttp.)-Owns Old Point Comfort Va. 0 between Charleston, 8. C., and Rutherfordton, N. C. Road is also in via Newport News and Charlottesville, to B.!$ Sandy River, West Viroperation in Tennessee from ,Tohnson City to Unaka Springs, 20 miles. ginia, 511 mHes ; Richmond to Clifton Forge, v a., 230 miles; also holds In February, 1891, receivers were appointed. See v. 54, p. 485. the owner mp (through all the bonds and the bulk of the stock) of the A reorganization plan of Aug. 2, 1892, supplementary to that of line from Ashland, Ky., to Covington and the bridge between CovingJune 18, 1891, has been accepted by the secUI·1ty holders. Tennessee ton and Cincinnati; and has absorbed the Elizabethtown Lexington portion of road was bought by bondholders at foreclosure sale in 1892, & Big Sandy, the Ohio & Big Sandy RR. and the Kentucky & South Atand the remainder of the property will probably be sold in spring of lantic RR., 203 miles (of which 21 miles leased and 20 narrow gauge.); 1893. See reorganization plan, V. 55, p. 462. Receiver's certificates together with various branches, the whole on July 1, 1892, aggr~ for $260,897 were outstandmg July, 1891. gating 1,183 miles of ownership and 115 miles of leasehold and trackEARNINGS.-From January 1 to Nov. 30, 1892 (11 months), gross earn- age rights for r eaching Washington, etc. operating under dencit 1891; in $147,682 against 1ngs were $135,455, HISTORY, &c.-The former Chesapeake & Omo was sold in foreexpenses, $22,934, against deficit of $22,971. closure April 2, 1878, and this company organized. In 1888, under 156, p. 53, (V. Y. N. Broadway, 45 General offices of the company, the direction of Drexel, Morgan & Co., the company was reor186; V. 54, p. 287,485,683,799,968; V. 55, p. 21,145, 462.) ganized without fereclosure, and the road extended to Cincinnati. The consolidation with the Richmond & Allegheny was consummated in Charleston & Savannah.-Foreclosed June 7, 1880, and January, 1890. The Elizabeth. Lexington & Big Sandy and other roads present COIIWany organized. Stock $500,000. Fiscal year changed were practically absorbed in 1892, all their securities havin"' been. to end June 30. From January 1 to October 31, 1892 placed under the C. & 0. general mortgage excepting $3,007,080 E. L. (10 months), gross earninus were $498,365, agaiJast $609,930 & B. S. bonds assumed by C. & 0. at 5 per cent. In December, 1892, in 1891. In calendar year 1891. g1;oss earnings were $719,377; net, the Chesapeake & Omo Steamship ComDany (Limited), was organized, $202,496; SUI-plus over charges, $62,108, out of which was paid 6 per this company taking a majority of its stock. See V. 55, p. 1078. Until J anuary 1, 1894, the voting power and control of the C. & O. cent on first preferred incomes. See V. 54, p. ~05. Paid 112 per cent on first ncomes in 1889, 2 per cent in 1890, 6 in 1891, 6 in 1892 remains with three trustees, viz.: .J. Pierpont Morgan, John Crosby Brown and George Bliss. The road is therefore controlled in same infor year 1891. H.B. Plant,President, New York. (V. 54, p. 405.) terest as the Cleveland Cincinnati Cmcago & St. Louis. CAPITAL 8TOCK.-The stock is $59,799,100 common, $642,900 1st Charleston Snrnter &: Northern.-Operates from Pregnalls, 8. C., to Gibson Station, N. C., on the SPaboard Ah· Line, 132 miles, and preferred 5 per cent and $725,000 2d preferred 5 per cent. Upon the of the preferred stocks, as mentioned below, the common conversion branches, 18 miles. Receiver appointed January, 1892, and receiv ers' ct-~ificatt"S for $200,000 authorized and mostly u ed to pay for the stock will be $60,425,600. All the converted shares are deposited in alive to preclude any advantage to shares not converting. held and trust e:xtt-ns10n of 18 miles to Gibson, completed Sept., 1892. Reorganization in progress. Mortgage trustee is Atlantic Trust Co. of New York. PRICE OF STOCK.-Common stock (since reorganization in 1888): In stock authorized $12,000 per mile; outstanding, $1,380,000; par, $100. 1889, 151s-W28; in 1890, 1412@2718; in 1891, 1414@28; in 1892, 2138@ From January 1 to Dec. 31, 1892 (12 month ), gross earnings were 2~; in 1893 to Jan. 20 inclusive 2212-W24¼ . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE CHESAPEAKE & OHIO RAILWAY AND ITS CONNECTIONS. JA:t-UA.RY, RAILROAD STOOKS AND BONDS, 1893.J 27 Subscribers -w-ill confer a great Cavor by giving hntnediate notlee oC any error discovered in these Tables. RAILROADS. INTEREST OR DIVIDENDS. Bonds-PrinoiMiles Date Size, or .Amount ----=----..,.---------- pal,When Dut-. For explanation of column headings, &c., see noteH of of Par Outstanding Racteentp.er When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. Payable Whom. Dividend. - - - - - ____ ,______ ,____ ----,----------,------- Ohesapeake & Ohio.-(Ooncluded.)Chas. & Ohio Equipment trust bonds, "'Old .. _.. c* A.lle~hany Car Trust, Series A., B and 8.......... . Equipment notes ................................... Elevator Co. 1st M., 01d,p. &i. guar. by C. & O.c• 2d mortgage, for$ 00,000, income, non•cum.c* New River Bridge Bonds, gold ................. . .. . Buckingham Br. RR. 1st M., income, non-cum ... 8 ..... ...... Var. ..... .... 4 1888 1888 1888 1892 $1~000 1,000 1,000 500 186 352 352 1877 1881 1881 . ... .... 1,000 1,000 1,000 1,000 ..... . ... . ... Oku. Ohio & Southwestern.-· Paduc. &Eliz.,lstM.,s. f., dr'n at 100($300,000 8s) C. 0. & S. W. 1st mort., gold ($19,000 per mile).o• 2d mortgage ($11,000 per mile) .......... . ... c* Equipment trust bonds, not drawn_ ...... . ... c* Equipment trust notes July 1, 1892 .... . ... .... Ohwag_o fl Alton-Common stock .................... Pre eITed stock (7percent yearlynotcumulative) General mo~afe, sterlinlt: for £900,000 . ....... 8.f.bonds (K. . S .L.&C.lst .collat.),gold,notdr'n Pref. stock Kansas City St. L. & C., guaranteed .. Joliet & Chic., 7 p.c. stock,perpet.,~ar. by C.&A. St. Louis Jacksonville & Chio., 1st ., assumed .. 1st mortgage, endorsed by Chicago & Alton .... 2d mortgage, endorsed by Chicago & Alton .... 2d mortga~, assumed (convertible) ............ Louisiana & o., guaranteed preferred stock . ... lstmort. bonds, assumed by Chic. &-Alton ..... 1st mort. (interest guaranteed Chio. & Alton) . 2d mort. (interest guaranteed Chicago & Alton) Miss. River Bridge, stock (7 :per ot. guar. (C.&A) .. 1st mort., gold, assumed, sink. fund, dr'n at 100. ..... . .... .... . ... 322 isfa 162 162 38 150 37 37 150 101 101 101 101 1864 1868 1868 .... i877 ..... 1878 ---- i864 i870 1870 1877 1,000 $275,000 235,000 755,634 820,000 315,000 170,000 58,500 . .... ··ioo 100 1,000 1,000 100 100 1,000 1,000 1,000 1,000 100 1,000 1,000 1'.~".° I 1,000 500,000 6,176,000 3,865,000 685,000 265,528 16,314,600 8 3,479,500 8 4,379,850 2,075,000 1,750,000 16 1,500,000 7 2,365,000 564,000 188,000 42,000 329,000 7 439,000 1,344,000 300,000 300,000 7 593,000 gg. Various N. Y., Drexel,Morg.&Co. Va rious do do Various 6 do do 4 g. A. & 0. do do 4 Oct. 1. M. &N. N. Y., Drexei,Morg.&Co. g. Jan. Richmond. g 6&8 ~ g. 6 ........ F. & A. F. & A. F. & A. Semi-an ·-··· N. Y., 23 Broad St. do do do do do do 1 . ........... per an. Q.-M. N.Y.,Cuyler,Moi'n} per an. Q.-M. &Co &Chic. Tr. 0 ce 6 g. J. & J. Lond'n,J.8.Morgan&Co. 6 g. M.&N. N. Y., Cuyler,Morg.&Co. per an. Q.-F. do do per an. Q.-J. N. Y., U. S. Trust Co. A. & 0. N. Y.,Cuyler,Morg.&Co. 7 7 A. & 0. do do 7 J. & J. do do J. & J. do 7 do per an. F. & A.. do do F. & A. 7 do do F. & A. do do 7 M.&N. do 7 do per an. J. & J. Chic., Treasurer's Office 6 g. A. & 0. N. Y.,Cuyler,Morg.& Co. Various. varioiis. Oct. 1, 1938 Oct. 1, 1988 May 1, 1898 Jan. 1, 1925 Feb. _l, 1897 A.ug. 1, 1911 A.ug. 1, 1911 .Tune, 1901 1; Dec:· "i892 Dec. 1, 1892 July 1, 1903 May 1, 1903 Feb. 1, 1893 Jan., 1893 A.pr. 1, 1894 A.pr. 1, 1894 July 1, 1898 July 1, 1898 Feb. 1, 1893 A.ug. 1, 1900 A.ug. 1, 1900 Nov. 1, 1900 Jan., 1893 Oct. 1, 191i I BONDS.-The consolidated rrwrtgage, due in 1939, is for $30,000,000 (trustee, Central Trust Co.), and sufficient bonds are reserved to provide for prior liens. This mortgage is also secured by deposit in trust of the $11,000,000lbonds and two-thirds of the stock of the Maysville & Big Sandy RR., Ashland to Covington, Ky., and the Bridge to Cincinnati, all owned by the Ches. & 0. RR. (See abstract, V. 49, p. 147.) Of the first consolidated mortgage on the Richmond & Allegheny division, $5,000,000 carry 2 per cent interest till January, 1894, and thereafter 4 per cent. (See abstracts of mortgages, V. 51, p. 144.) There are also Manchester City 8s, $60,200, and 5s, $36,000. The general mortgage of 1892 (Central Trust Co. and H. T. Wickham trustees) is for $70,000,000, but additional amounts at $25,000 per mile may be issued for double-tracking. Of the $70,000,000 as above, $32,691,000 bonds were reserved to provide for the $30,000,000 consols of 1889, issued or to be issued, etc. The balance unissued may be sQ}.d for new acquisitions, rolling stock, etc., but not more than $2,000,000 thereof in any one year. The mortgage covers the 985 miles of road owned by the company as indicated above, the securities of the Big Sandy roads which it holds, and all additional mileage acquired with the proceeds of its bonds. When the preferred stocks shall have b een entirely retired there will be $18,988,000 generals 412s outstanding, out of which $4,000,000 are being used for improvements in 1892-93. See full abstract of mortgage in V. 54, p. 644; also V. 54, p. 642; V. 55, p. 335. The new bonds are given in exch!'l.nge for preferred stocks on terms following: First pref. to get two-thi1·ds of its par value in new bonds and one-third in new common stock; second pref. to get one-third of its par value in new bonds and two-thirds in new oommon stock. The Elizabetht'n Lexingcon & Bi g Sand-y first mortgage bonds, interest on which has been reduced to 5 per cent, have been endorsed with the C. & 0. guaranty of princi_~al and interest, and general mortgage bonds have been set aside to retire them at maturity. Only $17,000 of the E. L & B. S. unassented 6s remain out. OPERATIONS, FINANCES, &c.-Since the reorganization in 1888, when the control of the company wa.s placed for five years in the hands of trustees, the property has been greatly enlarged and improved. It is operated in harmony with the Vanderbilt lines. A. new steamship oompany to run steamers from Newport News to Liverpool was organi:ted by friends. of the company in November, 1892. (V. 55, p. 937.) As to the earnings and expenses for the year 1892-93 the managers n then- report for tbe past year (V. 55, p. 334) give in full their reasons for believing that a substantial surplus will remain after payment of all chars-es. In brief these reasons are as follows : In the year 1891-92 net earmngs were$2,275,000; to this sum should be added over $500,000 for extraordinary ex :ienses included in the year's operating expenses. over and above liberal allowance for maintenance, etc., and $Thi250,000,as a minimum for the net earnings of tbe Big Sandy,etc., roads. · s would make a total of over $3,000,000 net earnings for the year just closed, against an interest and rental charge for the ensuing year on the entire system of $2,880,066. There is now being expended for double track, branches, equipmentz etc., about $4,000,000, and all the interest upon the bonds sold thereror (about $200,000 per annum) has been included in the fixed charges for the ensuing year, while no allowance has been made in the above statement for the increase in net earnings which should result. LA.TEST EARNINGS.-July 1, 1892, to Nov. 30, 1892 (5 months), gross $4,550,875, against $4,491,588 in 1891; net, $1,536,465, against $ 1,225,571. ANNUAL REPORT.-Fisoal year ends June 30. Annual meeting is held at Richmond on the Tuesday preceding the last Tuesday in October. Report for 1891-92 was in V. 55,- p. 318, 331, 334, and showed the following, there bein~ in:i:udbd in operating expenses of each year large amounts pa!d for n ~w equipment and other additions, over $500,000 being so includoo in 1891-92. 1889-90. 1890-91. 1891-92. Miles operated........... . 923 1,027 1,078 Passenger earnings ...... . $1,471,436 $1,765,299 $1,913,187 Freight................... . 5,384,255 5,963,516 6,694,953 Express, mail and miscel. 306,25e 398,296 396,460 -$9,004,600 --- Total earnings........ Oper. expenses and·taxes. $7,161,949 5,611,1:168 $8,127,111 6,083,518 Net earnings.......... Other income............ . $1,519,981 19,969 $2,043,593 18,520 $2,272,868 .... . .. . Total net income. . . . • Interest on bonds ........ . Rentals of tracks ........ . Loss on grain elevator ...• Discount and exch'ge, &c. $1,569,950 $1,663,641 44,401 $2,062,113 $1,745,129 11,609 16,419 69,145 $2,272,868 $1,798,095 10,916 8,165 64,372 ··i:s2s -$1,709,670 --- 6,731,732 Total payments....... $1,842,302 $1,881,548 Balance ....•......••..•.•.• Def.$139,720 Sur.$219,810 Sur.$391,320 (V. 53, 604,753; V. 54, p. 119, 158, 242, 366,441,525. 597,642,643, 644,964, 1009; V. 55, p. 58, 318,331,334,722,937, 1078.) Chesapeake Ohio & Southwestern.-Louisville, Ky., to Mem• phis Tenn. 392 miles and branch Elizabethtown to Ceoilian Junction https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 miles, 398 miles; of which is leased from Louisville & Nashville their Ceoilia.n branch, 46 miles. Also operates separaiely the Ohlo Valley Ry:., Hopkinsville via Princet,on to Evansville, Ky., branches, etc., 160 miles.; so too the Hodgensville & Elizabethtown and the Troy Tiptonville railroads, 16 miles in all, most of whose securities are owned. SUCCESSOR to the Memphis Paducah & Northern, which was sold in foreclosure in 1881, and merged with the Paducah & Elizabethtown. LEASED in February, 1886, to the Newport News & Mississippi Valley Co. for fifty yearo1, rental to be interest on bonds if earned, and not to exceed 6 per cent, on stock. In 1891 $1,297,500 (60 per cent) of the stock of the Ohio Valley Railway was purchased, the Ches. Ohio & Southw. guaranteeing its l_li2,1:62,000 }?onds. See V. 52, p. 321, 718. In August, 1892, a controlling interest m the stock of the Owensboro Falls of Rough & Green River RR. (which see) was purcha.sed .by parties connected vrith the Ches. 0. & S. W. Its 42 miles of road will be operated separately. STOCK, ETC.-Common, $6,030,600,and pref. $3,860,000 ($164,000 additional unissued), of which the Newport News & Mississippi Valley Co. July 1, 1892, owned $5,608,700 common and $3,511,600 pref. Unpaid coupons were $591,910 July 1, 1892; due Newp't News Co.,$1,399,701. EARNINGS.-From Jan. 1 to Dec. 21, 1892 (1134 months), gross, $2,196,604, against $2,277,836. ANNUAL REPORT.-Fisoal year changed to end June 30. Report for year 1891-92 in V. 55, p. 855. 1890-91 1891-92. Gross earnings .... . ......... .. ................ $2,311,280 $2,297,825 Net earnings ........... ·-··................... $739,428 $823,156 Net, including miscellaneous income........ . .•..... $868,684 Rentals, taxes, interest, &o...... ....•• ...... . ...... . 887,303 Balance................................ - . . . .. ..... . df. $18,619 -(V. 50, p. 518; V. 52, p. 569,718; V. 53, p. 156; V. 55, p. 855.) Chlcaao & Alton.-LINE OF ROAD-Joliet to East St. Louis (main), 244 miles; Branches-Bloomington to God!rey, 151 miles· to Coal City, 24 miles; Dwi~ht to Washington and Lacon, 80 miles; Roodhouse to Louisiana., 38 miles; Upper A.Iton line, 7 miles. Total owned 544 miles. Leased-Chioa~o to Joliet, 37 mileR; Louisiana to Cedar City, 101 miles; Kansas City to Mexico, 162 miles. Total leased, 299 miles. Total operated, January 1, 1892, 843 miles. HISTORY.-CJ?.arte~ed a~ the Chicago & Mississippi February 27, 1847; reorgamzed m 18.>7 as Chicago Alton & St. Louis, and again under present title in October, 1862; after foreclosure. In 1884 consolidated with the St. Louis Jacksonville & Chicago RR. STOCK.-Stock for $2,200,000 was sold to stockholders at 114, to retire $2,400,000 of 7 per cent bonds due January 1, 1893. The Chicago & Alton preferred stock has prior right to a non-cum.Ulative dividend not exceeding 7 per cent from net earnings and (after payment of 7 (?n common) also shares with common in any surplus. DIVIDENDS smce 1879-In 1880, prefeITed 7, common 6½; in 1881 both 8; in 1882, both 8; in 1883, both 8; in 1884, both 10; from 1885 to Dec., 1892, both inclusive, both 8 (2 per cent quarterly.) PRICE OF COMMON STOCK.-In 1885, 128@140; in 1886, 138@146 · in 1887, 130@155; in 1888, 132@14012; in 1889, 125@140; in 1990 i23 @135; in 1891, 123@14014: in 1892, 139@154; in 1893 to Jan. 20 inclusive, 140@145. ' LEASED LINEs.-The Kansas City St. Louis & Chicago is leased in perpetuity from Nov. 1, 1877, at rental of 35 per cent of gross earnings. Its bonds are held by the U. S. Trust Co. as security for the Chicago & Alton bonds of 1878, which have a sinking fund of $60,000 per annum Common stoC'.k, $27.1,700, of which $157,600 is owned by the C. & A.. · The Joliet & Chicago is leased from January 1, 1864, for the term of its charter, and forms part of the main line. Rental, 7 per cent on stock. The Louisiana& Missouri River RR. is leased for 1,000 years Rental, 35 per cent of gross earnings, after taxesf. &o., h.ave been deducted from them, but interest guaranteed on seoona mortgage bonde and $329,100 preferred stock; otlier pref. stock is $1,010,000 and common $2,272,700; rental in 1891, $162,138, against $139,423 in 1890 The Mississippi River Bridge is leased in perpetuity from Dec. 3 1877' at 7 p. c. on $300,000 stock (all owned by C. & A..) and 6 p. c. on 1oonds. GENERAL FINANCES.-The Chicago & Alton Road bas been particularly strong in having a large local business between Chicago and St. Loms. Its leased lines are as completely controlled as if owned and the system is compact and very conservatively managed, no ex• tensions having been built or new lines acquired of recent years. Since 1883 there has been practically no increase in the capital stock, except that ipade tu January, 18~3, to retire maturing bonds, as above stated. In this period $2,153,870 mcome has been expended in the purchase of additional real estate, rolling stock, etc., and the bonded debt has been reduced by the purchase and cancellation of $735,000 of bonds. A.NNUAL REPORT.-Fiscal year ends December 31. The annual meeting is held in Chicago the first Monday in April. Annual report fo r 1891 was in V. 54, p. 363.-See also editorial on p. 348. 1888. 1889. 1890. 1891. Totalgross earuings.$7,511,465 $7,516,617 $7,065,754 $7,590,881 Net earuings ........ $2,843,380 $2,944,881 $2,683,754 $3,132,131 Other receipts .. _..... 273,252 273,875 273,497 272,567 Total receipts ..... $3,116 632 $3,~18 756 $2,957,251 $3,404,698 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE JANUARY, 29 RAILROAD STOOKS AND BONDS. 1893,) Subscribers will conCer a great tavor by giving Immediate notice oC any error discovered in these Tablea. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. Ohicago Burl. & Northern-lstM., s.f.,red. atl05.o* 2d M. ($10,000 p. m.) red. after May 31, 1898 .. o* Ten-year debentures ............................. o* Equipment mortgage-see text . ........... ... ..... Ohicago Biwlington cf: Quincy-Stock ................ Chicago Burl. & Quincy consol. mortgage ....... o.. Plain bonds .................................... o* Sinking fund bonds, (1st M. as coll.) not dr'n.o* Bink. fund bonds (1st M. as coll.) not dr'n.o*&r Burl. & Mo. Riv. (in Iowa) lstM.lgr.s.f.,notdr'n. o* 1st mortgage convertible bonds ............... c* Ch.Burl. &Q. Iowa Div., s. f. 5s,drawnat105 .. } Iowa Div., s. f. mortga§e4s, drawnatlOO.o&r Sink.fund4s (forB. & . W.) drawnatlOO.c&r'" Denver exten. (oollat. tr.) b'ds, s.f. dr'n at 100.c,. Ch. Burl. & Q. Debentures for Han. & St. Jo stk.c* Nebraska ext., $20~0 p. m. (s. f., not dr'n).c*&r es (See remarks) .......... Convertible deben B'rL&Mo.RR.inNeb.con.M.1./r;l·f.dr'n at 100 . . } exemfc ( ee remarks) .... do do Do Burl. & Mo. RR. in Neb., s. f. or At.&Neb.RR.st'k . . ~uinoy Alton & St. L. (leased) 1st mortJage .... o* pub.Val.R.,lstM.g.,(dr.atlOO)s.f.,$ 4,000 ... o Ottawa Oswego & Fox River, 1st mortga e .... o* Omaha & 8. W., 1st mortflage, ~arantee ...... o* Nebraska Railwu oonso date mort, ~ar ...... o .A.toh.&Neb.,lst .,.A.t.toLin.,Neb.,and r.,~ar.o* 2d mort. on .A.toh. & Neb. RR. (1st M. on· ridge) Linc'n &N.W.RR.lstM. guar., s.f.1 p.o.,notdr'n .. Ohic. cl East. Illinois-uom. stock ($15,000 p. mile). Preferred stock, 6 per cent ($101000 per mile) .... lstmort. (s. f. $20,000,nodrawmgs) ............ o.. Danville&GrapeCreekRR.-lst M., assumed . . o* 8 1888. Rentals paid ... ...... $665,455 Construe., equip.,&c. 531,542 Interest on debt...... 825,658 Dividends ............ 1,407,608 Miscellaneous........ 106,924 1889. $669,478 159,810 823,495 1,407,712 38,059 Bonds-.l'rinc1 INTEREST OR DTVIDENDS. pal,WhenDue . Amount Miles Date Size,or Par Outstanding Rate per When Where Payable, and by Sto~k:9-Last of of Dividend. . Whom. Cent. Payable Road. Bonds Value. 363 363 ..... ...... 820 --·· 33 286 278 40 787 ---· 415 l,432 .... 561 0 46 90 70 49 132 148 148 73 ...... io7 7 5 1886 $500&0. $B,522,500 1,000 2,215,000 6 1888 1,000 1886 935,000 6 940,000 1,000 5 1888 100 76,394,905 See text. is73 1,000 18,000,000 7 1,000 1871 547.500 7 1,000 1875 330,000 5 1,000 1876 2,316.000 5 3,902,900 1863 50&o. 7 66,000 '69-'70 500 &o. 8 2,892,000 5 } 1879 1,000 8,152,000 4 1879 1,000 1,000 4 1881 4,300,000 1,000 4 1881 7,968.000 1,000 9,000,000 1883 5 1887 1,000&o 27,246,000 4 1890-2 100 &o. 15,278,700 5 7,894,200 6 {1878 600 &c. 1878 600 &o. 5,000,000 6 1,000 3,347,000 4 1880 1,000 840,000 1876 5 1,078,000 1879 600 &o. 6 1,000 1870 1,076,000 8 1,000 1871 669,000 8 1,000 1877 349,000 7 1,125,000 1878 100 &o. 7 .... 1887 901,280 6 1880 600,000 7 ·ioo 7,746,000 ---· 4,830,700 6 pei··an. -··· 100100 &c. 1877 2,989,000 6 1,000 1880 119,000 6 1890. $652,411 184,271 816,161 1,407,560 189,227 I 1891. $674,722 200,220 810,387 1,407,560 88,742 Total disbursem'ts$3,537,187 $3,098.554 $3,249,630 $3,181,631 Balance............. df.$420,555 sur.$120,202 def.$292,379 sur.$223,067 - (V. 53, p. 156; v. 54, p. 348, 363, 720; v. 55, p. 1036.) Chicago Burlington & Northern.-Owns from Oregon, ill. to St. Paul, Minn., 332 miles; Fulton to Savanna, ill., 17 miles; branches 14 miles; total, 363 miles. Completed Aug., 1886. In 1890 $9,068,500 of the $9,384,000 stock (par.;y $100), was purchased at 40 by Chicago Burlington & Quincy. (See v. 50, p. 390.) BoNDs.-The C. B. & Q. and Chicago & Iowa give a traffic guarantee for twenty years of one-half of their net earnings derived from business to and from the Northern (to be not less than $100,000 per year) for the retirement of Chicago Burlington & Northern firsts at 105; and after March 31, 1896, the whole issue may be retired at 105. The equipment bonds were called for payment at 105 on Feb. 1, 1893, holders were given the privilege or retarning their bonds upon agreeing to 5 per cent interest n.nd the waiving of the sinking fund provison. EARNINGS.-From January 1 to Nov. 30, 1892 (11 months), gross, $2,007,081, agst. $1,998,783 in 1891; net, $706,897, agst. $807,789. In 1891 gross earnin~s were $2,224,203; net, $923,683; rentals, $111,087; interest,$700,u59; taxes, $83,969; balance, surplus, $28,569. en 1890, gross, $2,115,442; net, $876,855. (V. 52, p. 641; V 55, p. 215.) Chicago Burlington & (lulncy.-(See Map.J-LINE OF ROAD.Main line from Chicago, ill., via Burlington, Iowa, and Pacific Junction, to Denver, 1,028 miles. Also has line in Illinois to Ea t Bt. Louis and to Quincy, connecting with the Hannibal & St.Joseph Road (purchased by the Chicago Burlington & Quincy in 1883), across Missouri to St. Joseph. Total. mileage in system proper Jan. 1, 1892, was 5,324, of which 158 miles wereleased or operated with other companies. The company also controls and largely owns the St. Louis Keokuk & North Western, 218 miles (of which 41 miles are leased or operated jointly with ~ther ooi:ripanies); the Kansas C~ty St. J~seph & Council Bluffs, 313 miles (3 miles leased or operated Jomtly with other companies) ; the Chicago Burlington & Kansas City, 220 miles (39 miles leased or operated jointly with other companies) ; the Chicago Burlington & Northern, 363 miles, and a half-intere~t with Wabash in the Humeston & Shenandoah, 95 miles. In 1892 Burlington & M. River, owned by C. B. & Q., was extended through Wyoming, 145 miles to Sheridan. ORGANIZATION, &c.-This was a consolidation in July, 1875, of the Chicago Burlington & Quincy in Illinois and the Burlin~on & Missouri River in Iowa. In 1880 the Burlington & Missouri m Nebraska was absorbed. The leased lines are practically owned and there is no charge for rentals in the income account, except as intere t on bonds. The ownership in the other roads above-mentioned is in the stocks and bonds thereof, and their accounts are kept separate. In March, 1890, a oo:n.trolling interest in the stock of the Chicago Burlington & Northern was purchased. Bee that company. LANDs.-The lands have mostly been sold, but 93,400 acres remaining; land notes outstanding, including interest payable, $463,731. CAPITAL 8TOCK.-The stock has been increased for the acquisition of new lines, and in 1880 a distribution of 20 per cent was made. DIVIDE~s.-From· . 1881 to 1887 inclusive, 8; in 1888, 5; in 1889, 4; m 1890, 5; m 1891, March, l; June, l; Sept., l; Dec., 114; in 1892, March, 114; June, 114; Sept., 114; Dec. 114 (quarterly). PRICE OF S'!'OCK.-ln 1884, 107'1zl~273-1; in 1885, 115121ill3812; in 1886• 128¾@141; m 1887, 123 7s '1ill56; m 1888, 1033-1@13012; in 1889 8978 @11112: in 1890, 80'allll12; in 1891, 75¾1il110; in 1892, 95@11058 · in ' · 1893, to Jan. 20 inclusive. 9634@103. SINKING FUNDs.-Inoluded in the bonds outstanding in the table above are the following which, with other bonds (the whole representing a cost of $14,577,407) were on January 1, 1892, held alive and drawing interest for account of the various sinking funds; Chicago Burlington & Quincy 4s of 1881, due 1921, $602,000; Denver extension 4s due 1922, $1,0041100; Burlington & Missouri in Nebraska 4s of 1910,$1;103.000; Republican Valley ~s of 1879, $217,600; Burlington & Missouri in Nebraska consolidated 6s of 1878, $5,516,600; but only $3 042 600 of this last amount in the sinking fund for the issue itself. Jaimary 1 1892, the sinking fund of the Burlington & Missouri (in Iowa) land grant 7s of 1893 held sundry bonds costing $8,749,684, and $14,135 cash. BoNDs.-The Iowa Division bonds cover the main line in Iowa from Burlington to East Plattsmouth on the Mo. River, 279 miles and 16 branches, 511 miles, the prior liens being $3,968,000 Burl. & Mo. River RR. bonds. 'l'hese Iowa bonds have a sinking fund of llg per cent ($203,800) yearly, for which the 4s a.re sub.1ect to call at 100, the 5s at 105. The Denver Extension bonds are ~~oll!ed by deposit with the truste~ of first mortgage 5 per cent bonds ,limited to $20,000 per mile of roam track and $10,000 per mile of second track) upon a.bout 400 miles of road, representing five different lines, of which the most important is that from Colorado State line westerly to Denver, 175 miles. They have a sinking fund of 1 percent ' for which they are subject to call at 100. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0. N.Y., F.L.&T.Co.&Bost. D. do do do D. do .A.. do do Q.-M. N. Y., Boston and Chio. J. & J. N.Y.,Bk.ofCom.&Bost. J. & J. do do J. & D. Boston, Co.'s Office. A. & 0. N. Y., Bk.of Com.& Bost. A. & 0. N.Y., F.L.&T.Co.&Bost. J. & J. Boston, Co.'s Office. A. & 0. N. Y., Bk.of Com.& Bost. do do A. & O. do M.& s. do do F. & A. do do M.&N. do M.&N. do do M.& s. do do J. & J. Boston, Bk. of Com'rce. do do J. & J. J. & J. do do F. & .A.. N. Y., F.L.&T.Co.&Bost. J. & J. Boston, Bk. of Com'roe. J. & J. N.Y., F.L.&T.Co.&Bost. J. & D. Boston, Co.'s Office. do do A. & 0. M. & 8. Boston, Bk. of Com'rce. Boston. J. & D. J. & J. Boston, Co.'s Office. A. J. J. F. & & & & Apr. 1, 1926 June 1, 1918 Dec. 1, 1896 Feb. 1, 1903 Dec. 15, 1892 July 1, 1903 Jan. 1, 1896 June 1, 1895 Oct. 1, 1901 Oct. 1, 1893 July 1, 1894. Oct. 1, 1919' Oct. 1, 1919' Sept. 1, 1921 Feb. 1, 1922' May 1, 1913 May 1, 1927 Sept. 1, 1903 July 1, 1918 July 1, 1918 Jan. 1, 1910 Feb. 1, 1896 July 1, 1919 July 1, 1900 June 1, 1896 Oct. 1, 1896 Moh. 1, 1908 Dec. 1, 1927 Jan. 1, 1910 2; Q:..:..:.j. N.Y., H·aiio~e~·Nat. B'k Jan:. .i893 J. & D. N.Y.,4thNat.Bk.&Bost. Dec. 1, 1907 M. & N. Boston. Globe Nat. Bk. May 1, 1921 The collateral trust Nebraska extension bonds of 1887 (New En <>'land Trust Co., of Massachusetts, trustee) are issued at $20,000 per mil'e for single track and $10,000 per mile additional for second track. See abstract of mortgage in V. 45, p. 441. The 5 ;i>er cent debentures of 1890 and 1892 are convertible into stock at any time prior to December 1, 1902, except when books are clo ed. Many of the bonds are redeemable (may be drawn) befor'3 maturity at various prices, J.>lus accrued interest, as stated in the table above. The Burlington & Missouri 1n Nebraska 6s, due in 1918, are redeemable at 100, but this for the "exempt" bonds applies only after 1908. GENERAL FINANCES.-The Chicago Burlington & Quincy Railroad has been one of the most profitable in the country, as its numerous branches tributary to the main line were built into choice agricultural territory. Corn, however, being one of the principal articles carried by it, its earnings vary greatly accord.in~ to the abundance of the (lrop. The company for many years paid 10 per cent, then 8 per cent, and since 1887 smaller dividends, owing to the increased competition and lower rates and the extension of roads in the far West. Debenture for $7,639,400 were issued in 1892 for uonstruction, etc. LATEST EARNINGS.-From Jan. 1 to Nov. 30, 1892 (11 months), gross, including lines controlled, were $36,868,125, against $31,827,897 in 1891; net, $12,924,841, agst. $12,101,571; charges, $8,910,000, agst. $8,747,048; balance, surplus, $4,014,841, against $3,354,022 in 1891. ANNUAL REPORT.-Fiscal year ends Dec. 31. Annual meeting is hel<l the third Wednesday in May. Report for 1891 was published at much length in the CHRONICLE, v. 54, p. 558, 561. See also editorial in v. 54, J>· 581. The operations and fiscal results for the system proper~ not mcluding the lines controlled. have been as follows: 1891. 1890. 1889. 1888. 5,324 5,216 5,140 4,917 Miles operated.. . . ... ... 268,778,494 292,535,186 289,343,493 Pass oar. one m* . ....... 1,752,248,595 1,978,896,694 1,804,977,505 Tons oar. one m. $6,729,809 $6,369,646 $6,223,510 PassengerearnsJf;6,146,121 18,369,821 18,843,104 18,190,818 Freight.......... 15,484,035 2,816,497 2,513,217 2,363,985 Mail,express,&o. 2,159,011 To. grossearns.$23,789,167 Oper. exp. & tax.18,882,460 $26,778,313 17,690,547 $27,725,967 18,749,699 $27,916,127 18,549,257 $9,366,870 $8,976,268 $9,087,766 Net earnings .... $4,906,707 66·45 67·62 66·06 79·37 P. c. op. ex. toe.. The company's income account, including the receipts and disburse ments on account of lines controlled, has been as follows: 1891, 1890. 1889. 1888. $9,366,870 $8,976,268 $9,087,766 Net earnings .... $4,906,707 1,371,627 806,035 672,863 169,601 Int. & exch'ge.. 156,848 178,455 291,443 408,555 NetB. &M. l. gr. $9,960,758 $10,895,345 Total income .... $5,484,863 $10,052,072 $230,280 $206,078 $192,119 Rentals paid.... $193,709 5,817,266 5,491,992 5,425,611 Interest on debt 5,111,527 Dividends ..... (5) 3,819,578 (4) 3,055,704 (5) 3,819,630 (414) 3,246,686 764,839 745,492 744,472 691,474 Car. tosink'gf'd. $9,417,906 $10,263,192 $10,059,071 Tot. disb'sem'ts.$9,~16,288 Balance, sur.df.. $4,331,425 sur.$634,166 def. $302,434 sur.$836,274 (V.53, p.325; V. 54, p. 242,558,561,581,643, 1!047; V. 55,p. 551,. 1077.) Chicago & Eastern Illinois.-( See .Map.)-Owns from Dolton11 ill., to Danville, ill., 107 miles; Danville to Shelbyville, 92 miles; Iomenoe to Indiana State line (junction with the Chicago & Indiana Coal) 11 miles; Cissna Junction, ill., to Cissna Park, 11 miles. Leases~ Chicago & Indiana Coal Railway, Brazil to La Crosse, Ind., 14i> miles, and branches, 29 miles; Evansville Terre Haute & Chicago Railroad, Danville, ill., to Otter Creek Junction, Ind., 49 miles; Indiana Block Coal Railroad, Otter qreek Junction to Brazil, Ind., 13 miles. Trackage-Otter Creek Junction to Terre Haute, Ind., (Ev. & T. H.) 6 miles; Dolton to Chicago (C. & W. I.), 17 miles. Total operated, 481 miles. HISTORY, LEA.SES, &c.-Chartered as Chicago Danville & Vin01·11nes in 1865, and opened in 1872 and 1873. Bold under foreclosure February 7, 1877, and reorganized under existing title September 1, 1877. In February, 1889, gave its stock in exchange for stock of the Chicago & Indiana Coal Railway, which latter stock is now held i.a trust for the benefit of the Chio. & East. Illinois stockholders. In May 1892, leased the Chicago & Indiana Coal Railway for 999 years, guaran~ teeing its bonds. Also owns control of Evansv. Terre Haute & Chicago RR. and $1,000,000 stock of the Chicago & Western Indiana-which see. In January, 1890, a ten-year traffic contract was made with the Evansville & Terre Haute for the operation of a through line between Chicago and Evansville, a.nd in December, 1892, a still closer contract was made for operating the roads as one line. V. 55, p. 995, CAPITAL BTOCK.-The common took is entitled to all surplus after 6 per cent on the preferred stock. DIVIDENDS since 1881-0u common, in 1882, 3 per cent; in 1886 5 • in 1887, 6; none since. On new preferred in 1888, 712; in 1889, 6'; iii ao https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. [VOL. LVI, JANUARY, 1893 1 RAlLROAD Subscribers will confer a great favor by giving im1uedlate notice of any error discovered in these Tab les. Bonds-Prinot• RAILROADS. INTEREST OF DIVIDENDS. Miles Date Size, or When Due. Amount Rate per When Where Payable, and by pal, For explanation of column headings, &c., see notes of of Par Outstanding Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. - - - - - - ----- - - - -Ohicago cl Eastern fllinois-( Continited)Extension, 1st mortga!e . ... _................... c* Consol. mortgage (for$ _,00_0,000),~old s. f . .. . . c: Collateral trust bonds, sinking fun ...... . ..... o General consolidated mortgage ................ c&r Chic.& Ind.Coal-1st M. $25,000 p. m.,gual·.p & i. c* <Jhicago Elevated R'y-Stook. $25,000,000 auth .... Chicago ct Erw--Stock (all held by Erie) ............ 1st mortgage, iold, interest guaranteed ........ c* Income bonds or $10,000,000 non-cumulative .. Terminal 1st mortgage, int. 4 J?· c. till July, 1893. ·C hicago Fort Madison ct Des Moines- Bonds .... . ... •Ohicago Grand T1·itnlc-Stock ... ......•....•......... 15 208 ...... 221 174 .... .... .... ..... $103,000 2,788,000 42,000 6,447,000 4,587,000 m ---- --- - 1890 --- - 249 249 Northwest Grand Trunk., 1st mortgage........... . 66 1st mortgage for $6,000,000, gold ................. 327 2d mortgage, $ and £ ................ . ... . ..... c&r 327 <Jhicago G1·eat Western-SEE TEXT. Chicago Gt·eat West. S11stem-Chic. St. P. & K. OityChic. St. P. & Kan. City-Stock .................... --·· Priorii loan, sterling, redeemable at 105 ...... 815 Minn. Northwest. 1st M., gd $20,000 m .. c* 515 Ch. St. P. & K. C.lstM.,g., (re .Jan., 18 6) .c*&r 815 General mort. gold (1st coup. due Jan. 1, '93). 815 Income b'ds (conv. into 5 p. c. pref. stook) . . .. .... Equipment lease warrants .................... ..... Ohicago Iowa ct Dakota-Stock ($97,800 pref.) . ... . .... 1st mortgage, gold .................. . ............. c 26 Chic. June. R11s. & Un. Stk. Yard-See MISCELLANEOUS Chic.Kalamazoo & Saginaw-Stock ($2,000,000 a.n.) 45 Chic. Kan. City ~ Texas-See KAN AN CITY BRIDGE! & TE Si· 1881 $1,000 1,000 1884 1,000 1887 1887 1,000&c 1886 1,000 ... . 100,000 1,000 12,000,000 1890 l,OOO&c 10,000,000 . ... 300,000 1888 (1) 1892 6,600,000 500&c. $558,000 1880 £100&0 15,442,000 6,000,000 1882 l,OOO&o ·ioo isso 100 isso i;ooo 1884 1,000 1886 1889 lOOO&c. 1888 100 &o. .... --·· ---- iss2 1,000 COM.PA NIES. 100 R~HNA L. 6 J. & D. N. Y., Fourth Nat. Bank. 6 g. A. & 0. N. Y., Central Trust Co. 6 g. F. & A. do do M.&N. 5 do do 5 J. & J. N. Y., Met. Trust Co. -- ---5-· g. ..... . ....... . . .. .. . . . ............... M.&N. N. Y. L.E. &W. 5 Oct.1. N. Y., when earned. 4to 5 J. & J. N. Y.,Drexel,Morg.& Co. 5 J. & J. Bost.,A.m. Loan&Tr.Co. . .. .. . .. .. ·········· 6 J. & J. N. Y. Agency, Bk. of 6 g. J. & J. Montreal &London. 5 J. & J. do do l 14,892,900 2,823,150 9,628,000 9,326,000 4,886,000 4,981,700 1.723,431 245,200 397,000 .... . (1) . .. . ..&.. 5 g. J. J. N. Y.,Lon: &.Amsterdaru 5 g. J. & J. See remarks. 5 g. J. & J. do g. J. & J. Nointer'stduetill1893. None paid. J. & J. 7 .......... --··· i . .......... . . ... 6 g. J. .ii[:i>. . .. . Dec. Oot. Feb . Nov. Jan. 1; 1, 1, 1, 1, 1931 1934 1912 1937 1936 ---····· May· 1,- ·i982 Oct. 1, 1982 July, 1918 1902 Jan."· 1,· ·i910 Jan. 1, 1900 Jan., 1922 Jan:. i.,. °i934 July 1, 1934 July 1, 1936 Jan. 1, 1989 July 1, 1936 1892-190 1 ........ . . Deo: · 1,· .i932 .......... ······· · 1 1890, December, 6 in preferred stock; in 1891, 412 cash; in 1892, 6; in 1893, January, 112 (quar.) BONDS, GUARANTIES, &c.-The Chicago & Eastern Illinois guarantees the interef!t on Evansville Terre H.aute & Chicago issues (see that oompany) and mterest on $150,000 Indiana Block Coal 1st 7s. The general c_,onsolidated m<?rtgage of 1887 (trustee, . Central Trust Company) provides for the retuement of $8,00o,qoo prior bonds and for issue of .bonds on J?.ew road at $18,000 per !Il-ile for single track, $7,0~)0 per mile.for e<lrnpment and $8,000 per mile for llouhle track: Clucago & Indiana Coal first m.ortga~e of 1886 (trustees, Metropolitan Trust CompanY: and R. B. F. Pierce)_1s for $1,000,000 on road from Yeddo to Brazil and $25,000 per mile ($7,000 of this for equipment) tor extensions; second track, $8,000 per mile. The bonds are guaranteed principal and interest llllder the lease. (V. 54 p. 964.) . . ' GENERAL FINANCES.-:Thli! road has a considerable coal traffic. In December! 1892, were issued $1,007,000 general consols for double track, eqrnpment, eto. LA.TEST EA.RNINGS.-July 1 to Dec. 31, 1892 (6 months), gross $2,292,-093, against $1,904,060; net, about $905,000, against $808,179. From July 1, 1892, to Nov. 30, 1892 (5 months), gross, :t;l,926,959, a.gainst $1,624,558 in 1891; total net, $773,032, against $674,107; in· terest, rentals and taxes, $525.330, against $471,978; balance, surplt.IB, -$247, 702, against $202,129. See V. 56, p. 81. ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting is held in Chicago on the first Wednesday in June. The annual report for 1891-92 was in v. 56; p. 81, and stated kat "more than $300,000 were ~xpended on road and equipment and charged to operating expenses during year over and aoove ordinary repairs," and that in 1892·93 a further $300,000 for like expenses must be charged to same account. 1888-89. 1889-90 1890-91. 1891-92. Gross earnings ....... $2,719,932 $2,911,723 $3,567,195 $3,775,546 Oper. exp. & taxes ... 1,724,547 1,731,369 1,946,499 2,503,523 --Net earnings . . .. . . . $995,385 $1,180,354 $1,620,696 $1,272,023 Net(incl.oth.income).$1,000,398 $1,212,346 $1,660,279 $1.l340,987 Interest paid......... $724,550 $771,514 $769,904 ;i,837,340 Rentals ............ .. . 222,118 200,061 204,226 210,655 Div. on pref. stock.. (6%) 267,912 (3%)133,956 (6%)275,949 (6 )283,986 Total................ $1,214,580 $1,105,531 $1,250,081 $1,331,981 Balance.- ......... def. $214,182 sr.$106,815 sr.$410,198 sur. $9,006 (V. 53, p. 407,473; v. 54, p. 276,964,995, 1110; v. 56, p. 81.) Chicago & Erie. -Owns from Marion, Ohio, to Hammond, Ind. 249 miles, and leases trackage over Chicago & Western Indiana to Chicago, 20 miles. Connecting line for the New York Lake Erie & Western and the New York Pennsylvania &.,Ohio to Chicago. HISTORY AND STOCK.-Reorganization of Chic. & Atlantic, sold in foreclosure Aug. 12, 1890. The N, Y. Lake Erie & West. owns the entire stock of $100,000 and guarantees the interest of the first mortgage bonds. See reorganization plan in V. 44, p. 369. BoNDs.-The first mortga~e (trllStees Central Trust Co. and Ed ward Daniels) bore 4 per cent mterest till May 1, 1892, and thereafter 5 per cent. This interest is guaranteed by Erie, as said above. Hoth the first and the income mortgages cover 249 miles of road, the contract with the Chicago & Western Indiana, $1,000,000 of that company's stock and $240,000 stock of the Chica~o Belt Railway. See full abstracts of mortgages in V. 51, p. 911 to 913. See also V. 54, p. 203. A certain percentage of the gross earnings is each year to be applied, first, to payment of interest on the tirst mortgage bonds, second to the payment of interest on the incomes. If the gross earmngs in any year .amount to $2,250,000 or less, then this percentage is w be 2212 per ~ent; if to more than $2,250,000 and less than $2,750,000, then 25 per cent; if to $2,750,000 or more, and less than $3,250,000, then 2712 per oont; if to $3,250,000 or more, then 29 per cent. In case the percentage of gross earnings is not sufficient to meet interest on the first mortgage bonds and the .Erie has to make up the detl.ciency, then the amount of such deficiency, with interest at 5 per cent, 1s payable to Erie in subse• quent years prior to the payment of interest on the income bonds. Interest on the incomes has been paid as follows: For year 1890·91, none; for 1891·92, 3 per cent, payalJle October 1. LATEST EARNINGS.-From July 1 to Nov. 30, 1892 (5 months), gross earnings were $1,180,569, against $1,218,904 in 1891. Gross earnings for the year ending June 30, 1892, (the fiscal year of thecompanyJ, were $2,886,583, 2712 per cent of which was applicable for interest on bonds, equal to interest on first mortgage bonds, and 3 per cent 1nterest on the income bonds, payable Oct. l, 18\:12. See V. 55, p. 941. For ten months to June 30, 1891, gross, $2,159,430. (V. 52, p. 428,498; V. 53 y. 795; V. 54, p. 203; V. 55, p. 331, 911.) Chicago Fort 1'Iadlson & Des 1'Iolnes.-Road C'lmpleted fr.:>m Fort Madison to Ottumwa, Ia., 72 miles, in December, 18U2. Chicago• Gt•and Trnnk.- Owns trom Port Huron, Mich., to Elsdon, 327 mileil; leases Grand Trunk Junction Railroad, -1 miles, and operates 5 miles Chi. & West, Ind. trackage; total, 335 rniles. 8tock, $6,600,000 ...n $100 shares. Controlled by the Grand Trunk of Canada, which giv ts a traffic guarantee of 30 per cen1 of gross earning-a. 1 From January 1 to Nov. 30 in 1892 (11 months), gross earnings were https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I£702,864, against £686,817 in 1891; net, £150,685, against £156,610 [n 1891, gross earnings, $3,726,106; net, $84'9,673; surplllS overcharges, $40 °1.R, a-gainst $109,625 in 1890. Chl<'ago Great Western.-(See Map.)-ORGANIZATION-Incorporated under laws of Illinois in January, 1892, to facilitate reorganization of the capital accounts of the Uhica.~o st. Paul & Kansas Cfty Ry. Co. It is authorized to issue (1) $15,000,000 of 4 per cent debenture stock, interest payable January and .July in gold; (2) $1:>,000,000 of 5 per cent preferred stock "A," dividend contiuaent upon earnings payable half-yearly in gol.d; (3) $10,000,000 or 4 per oent preferred stock "B" d1vtden<l contin.O'ent upon earninO'A and (4) $30 000 000 O O ' ' ' common stock ' REORGANIZATION PL<lN . CHICAGO ST. PAUL & KA~SA.S CITY.-In August, 1892, the followmg plan for the reorganization of the Chio. st. P. & K. c. without foreclosure was presented. '.l'he plan has been , accepted by a majority of each class of securities, and will be completed as soon as the new securities can be prepared. See plan at some len~th in CHRONICLE V. 55, p. 856. I The Chicago Great Western Company will assume he equipment lease warrants and the priority loan, and offersa. To holders of Minnesota & N. W. and Ch. St. P.& K.C. first mortgage , bonds for each $1,000 bond, with coupon of January, 1893, attaohed$500 debenture 4 per cent stock (interest from July 11 1892), and $600 1 · of 5 -p,er cent preferred stock "A" (dividend from Jruy 1, 1892.) b. Io holders of general mortgage bonds for each $1,000 bond having January, 1893, co.upon on, $L,OOO of 4 per cent preferred stock '' B.', c. To holders of mcomes and stock, on payment of a 10 per cent assess· ment, a certain a~ount of preferred stock "B" and common stock. To thof!e not .J?aymg assessment a certain amount of common stock only will be given. . . . f SECURITIES.-The ,1ecur1ties to be a sum.ad and issued are as ows: Eq_ui.J?. lease warrants.$1,723,430 Preferred stock" A" .. $11,372,40 0 Priority loan . ........... 2,823,150 Preferred stock "B ". 8,842,920 Debenturestook ....... . 11,477,000 Common stock ........ 24,676,300 From assessments and sale of $2,000,000 debenture stock (here ineluded) at 85 there will be available for improvement~, etc., $3,678,460. Holders of debenture aud preferred A stock will appoint" the finance committee of the company," [to exercise general supervision of tl.nances] and upon default in payment or interest on the debenture stock or·of divitlends. if earned, on preferred A, they will have the sole right through the finance committee and a receiver to be appointed at request of said committee to direct the management of the property. Additional 8ecurities of these two i>1sues can be put out, but only with conseut or a maijority of both these classes of stock present at a meeting. Securities of other ISsues to have a lien prior to preferred A can be created only with consent of two·thirds of both classes. The several classes in case of liqu dation will have principal paid in gold, according to their priority right to dividends. A deed of the property to the Manhattan Trust Co. secures the rights of the debenture and preferred A stockholders in these and other respects. (V. 53, p. 473; v. 54, p. 159,367,525,720,887,923,964; v. 55, p. 145, 638 , 765,856). Chicago Great Western System.- Chlcago St. P aul & Kansas Clty.-(See Map.)-ROAD-Owns main lines (all steel) Chica~o to St. Paul and St. Joseph, 690 miles; Haytl.eld to Manley Junction, 4 7 miles; branches-Summer to Hampton, 64 miles; to coal mines, &c., in Iowa, 1012 miles; other, 4 miles; total owned, 81519 miles; and leases-St. Paul to Minneapolis, 1012 miles; Chicago terminals, 10 miles; Dubuque to Aitken, 16 miles; Des .Moines terminals, 2·70 miles; St. Joseph to Kansas City, 67¾ miles; total leased, 10" miles. Total operated, 92212 miles . HISTORY, LEASE, ETC.-The Chicago St. Paul & Kansas City was organized in May, 1886, and in December, 1887, amalgamated 'with Minnesota & Northwestern, chartered in 1854. First mortgage coupons due from Jan. 1, 1890, to July 1, 1892, both inclusive, were funded into priol'ity loan for $2,823,150. On July 1, 1892i leased to Ohicago Great Western in furtherance of a reorganization pan. See Chicago li-reat Western above and V. 55, p. 856. Three•year notes, $120,000. LATEIST EA.RNINGS.-From July 1 to Dec. 31, 1892 (6 months), gross earnings (estimated) were $2,823,314, against $2,782,840 in 1891. ANNUAL REP,1RT.-Fiscal year ends June 30. Report for 1891-92 was in CHRONICLE V. 55, p. 638. 1889-90. 1890-91. 1891-92. Averagemileageownedandoper'd 845 887 922 Total ~-osstmrnings .... ········-··· $1,225,665 $4,360,851 $5,024,741J Ope1·atingexpenses, msur., &c . ... 3,178,886 3,285,340 3,664,677 I fiEW ° I Net income.. . ...... . ... .. .. . .. $1,046,779 $1,075,511 $1,360,063 fnterest... . ........ . ... . ....... . ... $54,590 $92,276 $128,816 Rentals............ . ...... .. . ... . .. 296,235 355,291 477,038 Taxes................ . ... . ......... 87,000 93,000 100,000 Total.. . . . . . . . . . . . . . . . . . . . . . . . . . . $437,824 $540,567 $705,854 Balance..................•.......•.. sr.$608,955 sr.$534,944 sr.$654,209 A. B. Stickney is Chairman of the Board; J. M. Egan, President ; W. L. Bo.vle, Vice-President. New York office, 47 Wc;1,H titreet. INVESTORS' SUPPLEMENT. MAP OF THE CHICAGO GREAT WESTERN OPERATING THE 3: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CHICAGO, ST. PAUL KANSAS CITY RAILWAY [VOL, LVI. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis [VoL. ur Subscribers ~II confer a great favor by giving Immediate notice of any error discovered In these Tables. I I I I Bonds-Prlnol. INTEREST OR DIVIDENDS. . D t Mil RAILROADS. ~ - - - - - - - , - - - - - - - - - - - pal When Due Amount a e 8 ize, or es Outstanding ·Rate perl When !Where Payable, and by St~cks-Last ~ Par For explanation of column headings, &c., see notesl of . of Dividend. Wllom. Cent. Payable Road. 1 Bond& Value. _ _ _ _ _ on first page of tables. I Ohicago Milwaiikee cf: .... Preferred stock (7percentyearly, uot cumulative! . ... Iowa & Minn. 1st M. convert. into pf. stock .. c* 230 1867 Prairie du Chien 1st M. (Mil. to Pr. du Chien) .c*1 195 1868 2d mortgage, convertible into pref. stock .. c• 1 195 1868 Iowa & Dakota lstM., conv. into pref. stock .. ~c 126 1869 River Div. (St.P.&C.) 1st M. con. into pf. stk.g. c*I 130 1872 85 1873 Chic. & Mil. 1st mort. (conv. into pref. stock) .. c*I Chic. Mil. & St. P. con. mort., conv. into pf. stk.. . . . . 1874 Ch. Mil. & St. P. consol. M., conv. into pf. stock.c*1 L,4.35 1875 I.&D.Ext.lstM.($15,000p.m.)con.intopf.st'k. c" 234 1878 8. W. piv. 1st mc:>rtga~e Western Union RR .. c:1 212 1879 So. Minnesota Div. 1st mortgage .............. c 1 419 1880 Mineral Point Division 1st mortga$e ......... c*j 142 1880 Hast. &Dak.Div.~~tens. lstM. ($1::>,000p.m.)c:, 395 1880-6 Lacrosse & Dav. v1v. 1st mortgage ........... c I 185 1879 Wisconsin Valley RR. Co. 1st mortgage ....... c* 1 107 1879 Wis. Val. Div.1st M. of 1880, s. f., not dr'n.c*1 161 1880 Dub. Div.(Ch. Cl. D.&M.) lstM. 1 s. f.,notdr'n.c~ I 372 1880 Chic. & Pac. Div. 1st M. (Chic. to Miss. Riv) .. c*1 120 1880 Western Div. 1st M., $20,000 perm., gold .. c" 1,267 1881 68 1881 Chic. & Lake Superior Div. 1st mort., gold ... c.. Wis. & Minn. Div.1st M. ($20,000 p. m.) gold... 230 1881 Fargo & Southern 1st mort.,gold, assumed....... 119 1883 Fargo & Southern income bonds...... . . . . . . . . . . . . . . . . 1885 Terminal mortgage, gold ........................ c* .. . . 1884 Dakota & Gt. South'n lstM. ($18,000 permile.)g.. 1 5 9 1886 Chic. & Mo. Riv. Div. lstmort. ($20,000 p. m.) . . c* 1 154 1886 Inc. M.,convert., s.f. $80,000yearly(dr. at105)c.. 525 1886 1889 Gen. mort. (for $150,000,000), gold Series A.c*&r Chic. cf: North Pac.-Ch. & Gt. West.1st M.g.int.gu.c* · 10 1886 First mort.for $30,000,000, gold, int. guar.c*&r 6512 1890 l Chicago Milwaukee & St. Paul.-(~ Map.)-LINE OF ROAD. -The company operates a great consolida.ffid system of railroads in Illinois, Wisconsin, Minnesota, Iowa and Dakota, which are well shown on the accompanr.Ing map. The main through lines are from Chicago to Milwaukee, 85 miles; Milwaukee to St. Paul & Minneapolis, via La Crosse, 341 miles; Milwaukee to Prairie du Chien, 194 miles; McGregor (opposite Prairie du Chien) to Chamberlin, Dak., on the Missouri River, 442 miles; Chicago, via Savanna, on the Mississippi River, to Council Bluffs, Iowa, 487 miles; Marion, Iowa (near Cedar Rapids), to Kansas City, 305 miles; Minneapolis to .Aberdeen, Dak., 288 miles. On June 30, 1892..t the mileage in Illinois was 318; in Wisconsin, 1,374; in Iowa, 1,55;:s; in Minnesota, 1,120; in Missouri, 140; in North Dakota, 118; in South Dakota, 1,097; trackage, 62. Total miles operated, June 30, 1892, 5,783. Second and third tracks and connections, 181 miles. .Also owns the entire stock of the Milwaukee & Northern RR. Co., but operates it separately. See that company. HISTORY, &c.-The Milwaukee & St. Paul RR. Co. was organized May 51 1863, and on Feb. 11, 1874, took its present name. The system has smce been greatly extended by the construction and acquisition of other lines. The stock of the Milwaukee & Northern was acquired in September, 1890, in exchange for common stock. CAPITAL STOCKS.-The preferred stock has a prior right over the common stock to a dividend of not over 7 per cent from net earnings in each year, but if not earned it has no cumulative right. .After payment ~f 7 per cent on preferred and 7 on common, both cla ses share p1'o rata. Common stock authorized, $47,062,560. Preferred stock on July 1, 1892, was $24,364,900, and it has been increased to present figures by exchange of convertible bonds for stock. DIVIDENDS since 1878-0n common in 1879, 212 per cent; from 1880 to 1884, inclusive, 7; in 1885, 4; in 1886 and 1887, 5; in 1888, 212; then none till 1892, when 2 per cent was paid Oct. 20. On preferred from 1879 to 1887 inclusive, 7; in 1888, 6; in 1889, 412; from .April, 1890 to Oct., 1892, 7 per cent per annum. PRICE OF STOCK.-Common stock-In 1883, 91!¼@10812; in 1884, 5814@9414; in 1885, 6434'1il99; in 1886, 8258'1il99; in 1887, 6958@95; in 1888, 5914-a;78: in 1889, 60 7 s'1il7514; in 1890, 44@7958; m 1891, 50¾ @823s; in 1892, 7558We458; in 1893, to Jan. 20, inclusive, 7618@8218. Preferred stock-In 1883, 115@12214; in 1884, 95 7s'1il119; in 1885, 102@125 · in 1886, 116'@12534; in 1887, 110@12714; in 1888, 9812@ 117; in i889,97@118: in 1890, !;)914@12318; in 1891, 1051211>123 7a; in 1892, 1191211>128 7 a; in 1.893, to Jan. 20, Inclusive, 122¼'1ill'.!412. BoNDs.-Of the bonds given in the table above as outdanding, $5,!?96,000 were held in the company's treasury on July 1, 1892. .An abstract of the terms of some of the principal mortgages was publli:;hed in the CHRONICLE, v. 45, pp. 85, 114, 144, 212, and v. 48, p. 830. ('f the consolidated mortgage bonds of 1875, enough was reserved to talw up the prior bonds; these bonds may be stamped and discharged from the sinking fund provisions. The St. Paul & Chicago, the Chicago & Milwaukee, the consolidated, the Iowa & Dakota, the Iowa & Dakota Extension, the Prairie du Chien 2ds, and the Iowa & Minnesota DiYt.sion bonds are convertible at par into preferred stock at any time within ten days after a dividend shall have been declared and become payable on the preferred stock. The terminal bonds issued in 1884 are secured by mortgage on the terminal property in Chicago and Milwaukee, subject to the lien 0f the genera mortgage on part of the track and terminals; but it covers also other property quite detached. On the "income" bonds of 1886 payment of interest is now obligatory. They are convertible into common stock, on notice, 60 days after any dividend day, and have a sinking fund of 4 per cent, $80,000 of them being drawn for payment yearly at 105. In addition to above bonds there are $89,000 Ha tings & Dakota 7'!] due Jan., 1903, convertible into pref. stock; $123,000 Minnesota \Jentral 7s, due July 1, 1824; also $225,000 5 per cent real estate mortgages due in 1894. The general gold mortgage of 1889 for $150,000 000 was fully de50, p. 205. The scribed in the CHRONICLE, v. 48, p. 830; see also United States Trust Co. of New York is trustee. GENERAL FINANCES, &c.-The mileage and also the stock and debt of this company increased very rapidly after 1879, the miles owned being only 2,359 on January 1, 1880, and the stock and bonded debt, in round figures, $69,000,000 on same date. A. considerable amount of the stock is held b)· parties also interested in the Chicago & Northwestern, so that the two roads are operated as a rule in harmony. In year '91 ·92, $1 909,000 general mortgage 5s were issued, and sundry bonds of par value of $2,511,000 were canceled, including $2,088,000 converted into pref. stock. Dividends on common stock were resumed in October, 1892, after having been suspended since 1888. Lacrosse Div. 7s for $1,218,000 were paid at maturity Jan. 1, 1893. LATEST EARNINGB,-July 1, 1892, to Nov. 30, 1892 (5 months), gross, $15,480,186, agst. $14,460,985 in '91; net, $5,578,577, agst. $5,686,401. .A.N:ISUAL REPORT.-Fiscal year ends June 30. .Annual meeting is held in September. Report for 1891·92 was in V. 53, p. 392,419, 422. 1891-92. 1890-91. 1889-90. 5,721 5,721 5 'i02 Miles operated June 30.. $6,639,137 $6,277,774 $5,981,639 Passenger earnings....... 23,241,421 19,012,15~ 18,337,009 Freight......... . . . . . . . . . . 2,402,951 2,214,291 2,087,059 Mail, express, &c......... v. Total earnings........ $26,4.05,707 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $27,504,224 1 $-16,027,261 I See text. A. & o. !N. Y., Office 42 Wall St. do do 100 25,673,900 7 per an. IA. & do do J. & J. 7 8,106,000 1,000 do do F. & A. 8 3,674,000 1,000 do do 7·3 F. & .A. I 1,233,000 1,000 do do J. & J. . 7 540,000 1,000 7 g. J. & J. London and New Yoi·k 3,804,500 $ & £ J. & J. N. Y. Office 42 Wall st' 7 2,393,000 1,000 · do ' 'do J. & J. 7 186,000 .... do do J. & J. 7 1,000 11,299,000 do do J. & J. 7 3,505,000 1,000 do do J. & J. 6 4,000,000 1,000 do do J. & J. 6 7,432,000 1,000 do do J. & J. 5 2,840,000 1,000 do do 6,670,000 7 & 5 J. & J. 1,000 do do J. & J. 5 2,500,000 1,000 J. & J. Boston, Lee Higginson. 7 1,106,500 500 J. & J. N. Y. Office, 42 Wall St. 6 2,366,000 1,000 do do J. & J. 6 6,565,000 1,000 do do J. & J. 6 3,000,000 1,000 do do 5 g. J. & J. 1,000 25,340,000 do do 5 g. J. & J. 1,360,000 1,000 do do 5 g. J. & J. 4,755,000 1,000 do do 6 g. J. & J. 1,250,000 1,000 do do .A.. & O. 6 200,000 do do 5 g. J. & J. 4,748,000 1:000 do do J. 5 g. J. & 2,856,000 1,000 do do J. & J. 5 3,083,000 1,000 do do J. & J. 5 1,680,000 1 000 . do do 4 g. J. & J. lOOO&c. 14,692,000 5 g. J. & D. N. Y., Office, 36 Wall St. 394.000 1,000 I 5 g . .A.. & 0. N.Y.,London,Berlin,&c. 1,000 25,348,000 St. Paul-Oommon stock .. _... - ~ ~ - ~ 0., i ExpensesMaintenance of way ....•. Ma.int. cars and engines .. Transportation .......... . Taxes ..................... . Miscellaneous .....•....... 1889-90. $3,119,714 2,639,849 10,388,382 830,046 195,106 1890-91. .$3,763,983 2,787,924 10,714,471 857,906 ' 242,214 Oct. 20, 189Z Oct 19 1892 July 1' 1897 Feb 1' 1898 Feb· 1' 1898 July 1' 1899 Jan 1' 1902 Jan· 1' 1903'1904 July 1 1905 July 1' 1908 July 1; 1909 Jan. 1 1910 July 1' 1910 Jan. 1: 1910 July 1 1919 Jan. 1' 1909 July 1' 1920 July 1' 1920 Jan. 1: 1910Jan. 1, 1921 July 1, 1921 July 1, 1921 Jan. 1, 1924 .April, 1895. July 1, 1914 Jan. 1, 1916 July 1, 1926 Jan. 1, 1916 May 1, 1989' June 1, 1936 .April 1, 1940 1891-92. $4,235,514 3,884,373 11,515,811 933,148 246,158 $18,366,500 Total expenses ........ $17,173,097 $9,137,724 $9,232,610 Net earnings.·····--·-···· 66·78 65·04 Peret. of op. exp. to earns . INCOME ACCOUNT 1890-91. 1889-90. $9,137,724 $9,232,610 Net earnings.............. 418,425 220,025 Otherincome....... .....•. $20,815,004 $11,468,50i 64·48 $9,556,149 7,237,251 (7) 1,532,152 84,217 $11,705,858 7,161,736 t7)1,572,612 112,414 $8,853,621 $8,510,983 Total disbursements . . 702,528 94.1,652 Surplus.................... GENERAL BALANCE JUNE 30. 1891. 1890. AssetsRoad andequipment ...... $185,631,301 $189,624,728 7,337,244 1,233,388 Bonds and stocks owned. 256,914 214,957 Due from agents, &c...... 276,251 247,858 Due from U. 8. Governm't 2,313,223 2,407,369 Materials and fuel......... 5,692,000 2,178,000 Bonds of comp'y on hand. 3,493,760 2,961,930 Cash....................... 2,026,284 1,449,498 Miscellaneous...... ... ... . $8,84.6,762 2,859,096 189~. $191,544,853 7,419,241 232,972 256,160 2,385,002 5,996,000 4.,043,530 4,770 $211,020,44.1 $211,882,52$ $46,027,261 22,198,900 129,797,000 2,786,778 3,546,775 3,477,228 91,646 3,094,853 $46,027,261 24,364,900 129,195,000 2,722,54.9' 3,486,339 • 2i7:269 5,869,209 $9,452,635 Total net income...... 7,214,155 Interest on debt........... Dividends on pref. stock .. (6) 1,296,828 _____ Miscellaneous............. Total assets ........... $196,324,301 LiabilitiesBtock, common ............ $39,868,961 21,839,900 Stock, preferred........... Funded debt .............. 125,693,000 2,880,278 Pay-rolls, vouchers, &c. .. 3,529,492 Interest accrued, not due. • Loans and bills payable... ·03:iff6 Miscellaneous........ . • . . . 2,419,514 lncome account........... ----- 1891-92. $11,468,504 237,354 ---·- - Total liabilities ..... _.. $196,324,301 $211,0~0.441 $211,882,528 -(52. p. 41,427; v. 53, p. 125,157,200,222,288,291; v. 54, p. 443; v. 55, p. 215, 392, 419, 422, 1077; v. 56, p. 42.) Chicago & Nortlrnrn Paclfic.-(Sce Map)-ORGANIZATION, PROPERTY OWNED, ETc.-This company was organized ill 188g Jn the interest of the Northern Pacific Railroad to acquire the important terminal property at Chicago owned by the Chicago & Great Western, &c. The property covered by the mortgage comprises the following: 332 acres (46 acres in the heart of the city), with 6512 miles of track in operation; also a freight house with a capacity of 80,000 square feet; a new passenger station, which with its appurwnances is valued at $1,500,000, besides valuable street ana dock frontage on the Chicago River, round houses, etc. The company is also the owner by purchase of a surburban line running from 4.0th Street in Chicago, through five populous towns, a distance of 9 miles, and Oct. 7, 1892, a completed line southerly from Chicago to a connection with the Chicago & Calumet Terminal at Blue Island. Bee full statement in V. 55, p. 58; also p. 682. The Cl:ricago & Calumet Terminal Railway, extending from Ham mond, Ind., via Blue Island and Worth to La Grange, 33 miles of track in all, crossing 26 lines of railroad entering Ohicago has also been acquired by Northern Pacific in the interest of this company. LEASE, RENTAL, ETc.-Leased to Wisconsin Central for 99 years, and lease assumed by Northern Pacific, rental net earnings, and in addition thereto $350,000 per annum, payable in gold. If these together do not suffice to pay interest on bonds, rentals and organization expensesii the lessee shall make up the deficiency, but advances so made aha be repaid, with interest at 5 per cent, out of future earnings. See abstract of lease in V. 52, p. 468. The Baltimore & Ohio uses this company's terminals under a lease or contract which it is said will yield o,ei$400,000 per annnm rental Other tenants are the Chicago St. Paul & Kansas City. BONDS AND STOCK.-There is a purchase money mortgage to the City of Chicago for $650,000, bearing 5 p. c. and due May 1, 1938. The con.sol. mort. (trustee, Farmers' Loan & Trust Co.) is for $30,000,000. Of this amount $18,850,000 was to pay for property acquired; $650,000 is reserved to retire mortgage to City of Chicago; $399,000 to retire outstanding bonds of Chicago & Great Western; $1,000,000 were authorized to be applied to any detlciency of earnings to meet interest charges,. and have been so applied; and $9,101,000 were reserved for improvements, betterments, rolling stock, etc. See mon!rage abstract V. 52, :p. 465; also see V. 54, p. 1047. Stock outstandin-g and authorized is $30,000,000; par, $100. EARNINGS.-From .April 1, 1892, to .August 31, 1892 (5 months), net earninp;s, not including the Blue Island line, were $488,686. (V, 53, p. $32,283,508 64.0, 880; v. 54, p. 1047, 1048; v. 55, p. 21, 58, 682.) RAILROAD STOCKS AND BONDS. JA,tr_ .A.llY, 1~3.] ~ .;~ :i: ,110 -° r Enlarged Scale Map Showing the Chicago and Northern Pacific's Terminal and Grand Central Passenger Station in Chicago. 1 Northern Pacific Wisconsin Central Baltimore &; Ohio Chi. St. Paul &; Kan. Cy. 4 Chi. & North-Western 5 Illinois Central Cleve. Cin. Chi. & St. L. Michigan Central 2 Chi. Rock Island & Pacific Lake Shore & Mich. Son. , Atch. Top. & Santa Fe New York, Chi. & t. Louis Chicago & Erie Chicago & Eastel'II. Ill. 3 Chicago & Alton Chicago & Grand Trunk Chi. Burlington & Quincy Chicago. & Western Ind. Chi. Milwaukee & St. Paul MAP OF THE CHICAGO &, NORTHERN PACIFIC RAILROAD ~ TERMINAL CONNECTIONS . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • \ Louiev. New Alb. & Chi. Wabash R.R. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE CHICAGO & NORTH WESTERN RAILWAY SYSTEM. 3-ANUARY, 1893,] RAILROAD STOOKS AND BONDS. 37' Subscribers urtll confer a great Cavor by giving bnlllediate notice of any error discovered in these Tables. Bonds-PrinolINTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or Due. Amount Rate per When Where Payable, and by pal,When of Par •F or explanation of column headings, &c., see notes of Stocks-Last Outstanding Road. Bonds Value. Cent. Payable Whom. on first page of tables. Dividend. - -- - - - ~100 $39,054,383 6 per an. J. & D. N.Y.,Co.'s0fflce,52Wall Deo. 28, 1892 <Jhicaio ~ Northwestern-Common stock ............ 4,250 ...... 100 22,334,600 7per an. J,_,-M. Pre erred stock (7 p. o. yearly, not cumulative) .. 4,250 ..... do do Dec. 22, 1892 1,000 129,000 Peninsular RR. 1st mortgage on road and lands. 108 1863 7 .& s. do do Sept. 1, 1898 1,000 12,771,000 Q.-F. 7 Chio. & N. W. consol. sink.fund, mort., not drawn. 788 1865 do do Feb. 1, 1915 1,000 1,700,000 85 1863 Chio.& Mil.1st mortgage, Chicago to Milwaukee 7 J. & J. do do July 1, 1898 Cedar Rapids &Missouri River.582,000 54 1863 500 &c. F. & A. lstm. 2d. Div., Marsh'l'tn to Des. M. River,&c 7 do do Feb. 1, 1894. 2,332,000 M.&N. 1st mort. 3d Div., Des. M. River to Mo. River 149 1866 500 &c. 7 do do May 1, 1916 769,000 Mort. of 1884, 2d M. Ced. R. to Des M. River.. 124 1884 J. & D. 7 do do June 1, 1909 1:000 1,350,000 A. & 0. 71 1870 Iowa Midland 1st mort., Lyons to Anamosa .... 8 do do Oct. 1, 1900 2,977,500 Madison extens.lstM., g. (s.f. $23,000, not dr'n) 129 1871 500 &o. 7 g. A. & 0. Apr. 1, 1911 do do 2,546,500 7 g. J. & D. June 1, 1911 do Menominee ext]. lat M. ~- (s. f. ~20,000, not dr'n, 114 1871 500 &c. do 3,365,000 62 1872 500 &c. 7 g. M.& S. Northwest. Uruon 1st .,~.,Mil.to Fond-du-Lac. do do June 1, 1917 Chio. & N. W. general conso . M., g., s. f., not dr'n 1,058 1872 500&c. 12,336,000 &D. do do Dec. 1, 1902 g. J. 31 '76-'80 560,000 Menominee River 1st mor~ge, two series ...... J. & J. do do July 1, 1906 -·-1,000 1,600,000 Mil. & Mad. 1st mortgage, · wauk:ee to Madison 82 1880 6 M.& 8. do do Sept. 1, 1905 ..... 1,528,000 M.&N. Chicago & Tomah 1st mortgage, ~ r . ... . ... _.. } 152 11880 6 do do Nov. 1, 1905 1882 601,000 •Chicago Milwaukee & N. W. cons ction bonds M.&N. 6 do do Nov. l, 1905 720,000 43 1881 1:000 Escanaba& Lake SuperiorRR. lstM., guar. p. &i. 6 J. & J. do July 1, 1901 do 1,000 600,000 Des Moines & Minn.1st M.,Des M.to J ewellJe.,&c. 57 1882 7 F. &A. do Feb. 1, 1907 do 1,000 64 1884 1,600,000 •OttumwaC. F. &St. P. lstM.($25,000p.m.), guar. 5 M.& 8. do do Moh. 1, 1909 1,000 1,500,000 Northern Il1inois lstmort. ($20,000p. mile), !mar. 75 1885 M. & 8. 5 do do Moh. 1, 1910 ·C.&N.W.s.f.b'ds of '79($15,000cfc'm.)red.at105.c&r 1,041 1879 1,000&c 13,922,000 5 &6 A. & 0. do do Oot. 1, 1929 1,000 829,000 IowaDiv.1stM.for$1,411,0 0 ($20,000 p.m.)c* 71 1891 412 A. & 0. do do Apr. 1, 1902 M.&N. 5 Sinkin~nd debentures of 1933 (not dr'n).c*&r .... 1883 1,000&c 9,800,000 do do May 1, 193;J Deben e bonds of 1909 (for $6,000,000).c*&r ..... 1884 1,000&c 3,569,000 M.&N. 5 do Nov. 1, 1909 do 30-year debentures for $10,000,000 . . ...... c*&r ··-· 1891 1,000&c 9,000,000 A15&0 5 do do Apr. 15, 1921 Extension 4s ($20,000 per mile) .......... . .. c&r ...... 1886 1,000&c 17,689,000 4 F15&A. do do Aug.15, 1926 ..... 250,000 7 Various do do Other small i"nes (see remarks) ...... . ........... ---Vari on,, 1908 1,592,000 Winona & St.. Peter 2d mortgage (now 1st) guar.. fa9 1870-1 1,000 7 M.&N. do clo Nov. 1, 1907 lat mortgage extens., gold,land grant,s.f.,guar. 184 1871 100 &c. 4,067,500 7 g. J. &D. do Deo. 1, 1918 do .... 402,500 Maple Riverlst m. ,Maple Riv. Jc. to Mapleton,gu. 60 1877 7 J. & J. do July 1, 1897 do 24 1878 200,000 Roch. & No. Minnesota lat mortgage, guar ....... 7 M.& 8. do Sept. 1, 1908 do ··-· + I I l Chicago & North-western.-(See Map)-LINE OF ROAD-This The following statistics are for the Chicago & Northwestern proper ,Company operates 4,273 miles of its own roads and controls Chicago the statistics of the Trans-Missouri lines are given below. t. Paul Minneapolis and Omaha (which see), 1,481 miles; Fremont Elk.horn & Missouri Valley, 1,300 miles, and Sioux City & Pacific, 107 RO.AD AND EQUIPMENT. mi!es; total ownt-d and co~trolled, 7,161 mil~s. The main.line from Yea1·send 'tray 31. 1888-89. 1889-90. 1890-91. 1891-92. •Chioago to East Omaha, Ia., 1s 492 miles, and this ~orms p_ractically ~he Tot. miles oper. 4,250 4,250 4,273 4,273 ,southern boundary of the whole ~ystem. The Sioux City & Pacific ,Locomotives... 786 806 846 858 ,and Fremont Elkhorn & Missouri Valley are operated separately Passn &c cars 546 558 558 632 (1,407 miles), and their earnings not included in those of_ Chicago & Fr'ght'&c.''cars 25 746 26 384 26 348 27,944 .Northwestern, but separately stated below. Their seour1ties, except ' ' • ' ' OPERATIONS AND FISCAL RESULTS. ':those helti. 1)-y Chic. & N. w., are in table above. HISTORY, &c.-The Chicago & Northwestern Railway was organtzed 1888-89. 1889-90. 1890-91. 1891-92. in 1859, and has since absorbed many other roads. Pass'gers car'd. 11,465,903 12,142,783 13,184,829 15,018,223 In December, 1882, a controlling interest was acquired in the stock of Pass'g'r mile'ge 279,210,717 279,699,383 309,212,070 336,878,416 the Chicago St. Paul Minneapolis & Omaha Co. by the purchase of Rt'ep. pas.p.m. 2·24 cts. 2·17 cts. 2·17 eta. 2·17 ota. 53 800 shares of preferred and 93,200 shares of common stock. Fht. (tns) mv'd. 11,154,715 13,138,110 13,616,872 15,337,758 fu July, 1884, tbe capital stocks (except a few shares) of the Fre- Fht. (tns) m'ge.1804,701,696 2000,182,603 1950,037,071 2246,302,541 montElkhorn & Mo. Valley and the Sioux City & Pacific were acquired Rate p.tonp.m . l·Ol cts. 0·98 eta. 1·02 ota. 1·02 ota. on the terms stated in the SUPPLEMENT of June, 1885, and prior issues. Passenger earnings .. $6,261,277 $6,285,179 $6,700,351 $7,298,880 In December, 1891, the Milwaukee Lake Shore & Western RR. was Fr i ht 18 193 646 19 654 213 19 829 341 22 788 423 bought by an exchange of C. & N. W. stock. It is operated separately. e g .. · · .. · · · · ... · · · ' ' ' ' ' ' ' ' See that Co. and v. 55 , p. 218 . Mail, express, &o .... 1,237,336 1,225,445 1,263,982 1,334,969 CAPITAL STOCK,-Of the common stock $2,331,983 remained in Total earnings ... $25,692,259 $27,164,837 $27,793,674 $31,422,272 the company's treasury in July, 1892, after the purchase of the Mainte $3 160 704 $3 680 437 $3 353 694 $3 920 697 Of Milwaukee Lake Shore & Western stock. Preferred stock bas a prior ' ' • • • • • • "nance oars,way. &c. 2,376,125 2,569,167 2,855,480 3,164,548 rig ht to 7 per cent ; then common 7 per cent ; th en pref erred 3 per cent ; Transport'n & miscel. 9,788,821 10,401,398 11,227,355 12,323,031 then common 3 per cent; then both classes share. Taxes................. 701,637 754,103 854,476 928,162 DIVIDENDS-On common since 1881: From 1882 to 1884, inclusive, 7; in 1885, 612; from 1886 to Dec., 1892, both inclusive, at rate of 6 per Total expenses . . $16,027,287 $17,405,10f1'$18,291,006 $20,336,438 cent yearly. On preferred in 1880 and 1881, 7; in 1882, 7¾; in 1883 N t ni $9 664.972 $9 759 732 $9 502 668 $11 085 834. and 1884, 8; in 1885, 712; from 1886 to Dec., 1892, inclusive, 7 yearly. e ear ngs. · · · · · · · · ' • • • • • , PRICE OF STOCK.-Common stock-In 1884, 8112W124; in 1885, P. c.exp. to earnings. <62 ·38 > (64·07) (R5·81) (64·72) 843sW115¾; in 1886, 10414W1205s; in 1887, 1041.4W1275s; in 1888, Net earnings ......... $9,664,972 $9,759,732 $9,502,668 $11,085,834 102l5gW116; in 1889, 10212W1147s; in 1890, 98W117: in 1891, 10218@ Investments, etc..... 285,377 340,739 259,585 317,736 118¾; in 1892, 1101sW1217s; in 1893 to Jan. 20 inclusive, 1113sW115. - ·- - Preferred stock-In 1884, 117W14912; in 1885, 119:\J,W1397s; in Total receipts .... $9,950,349 $10,100,471 $9,762,253 $11,403,570 .1886, 135W144; in 1887, 138W14512; in 1888, 136¼W146; in 1889, Interest on debt .. .... $5,825,833 $5,826,936 $5,880,390 $6,072,960 135W14412; in 1890, 134W148; in 1891, 130W142¼; 1n 1892, 139W Dividends............ 3,444,504 3,444,979 3,445,804 3,675,735 14712; in 1893 to Jan. 20 inclusive, 14212W146. Sinking fund.......... 58,000 202,570 201,301 410,425 BONDB.-The sinking fimd bonds of 1879 are secured by a deposit of mortgage bonds on roads acquired at the rate of $15,000 per mile, and Totaldisbursm'ts. $9,328,337 $9,474,485 $9,527,495 $10,159,120 t he terms under which these are issued were published in V. 29, p. 277. Balance, surplus..... $622,012 $625,986 $234.758 $1,244.,450 $6,305,000 of them are 6s, and the sinking fund is at least 1 per cent of outstanding bonds, the bonds being drawn at 105. There are several TRANs-MrssouRr RIVER LINES.-The earnings of these roads have small issues of bonds in addition to those in the table above, viz.: Min- been as below: nesota Valley Raill'Oad, $150,000 78 (April and October), due October 1, FREMONT ELKHORN &l\lISSOURIVAL. SIOUX CITY AND PACIFIC. 1908; Plainview, $100,000 7s (March & September), due Sept. 1, 1908; Y1·.ena. 1fay31. 1891. 1892. Y1·.end.Ma.y31. 1891. 1892. Sioux City & Pacific car trust 6s, March 1, 1896. Grossearns.$3,310,239 $3,481,236 Gross earns. $501,383 $510,216 In addition to the company's bonds, as shown in the table above, Net earns ... $1,051,612 $1,104,349 Net earns ... $193,295 $130,330 • -there were June 1, 1892, $1,912,500 alive in the sinking fund. Tot. charges 990,411 1,031,477 Tot.charges. 202,545 202,066 The Iowa Dimsion bonds of 1891 for $1,411,000 were authorized for the retirement of a like amount of bonds maturin~, including $582,- Bal'nce,sur. $61,201 $72,872 Bal'nce, def. $9,250 $71,736 ·000 Cedar Rapids & Missouri River second division first mortgage BALANCE SHEET.-The following is the Chicago & Northwestern'& bonds., due February 1, 1894. They cover road from Wall Lake to balance sheet on May 31 of each of the years named: Kings1ey, Iowa, 71 miles. See V. 55, p. 217. The sinking fund debent1ires of 1933 were issued to pay for the ChiAssets1890. 1891. . 189 2 • .ea.go St. Paul Minneapolis & Omaha stock; the sinking fund for these Road and equipment .......... $153,403,472 $157,193,271 $161,107,982 bonds is $200,000 per year, if they can be redeemed at 105. Bonds owned................... 11,219,551 14,912,909 *14,892,419 Debentm·es of 1884 and 1891 will be seemed by any future mortgage Stocks owned................... 12,151,500 11,966,500 22,051,9f7 -excepting any mortgage "for the enlargement, improvement or exten- Land grant investments....... 422,794 675,000 1,146,760 sion of the company's property." Bills and accounts receivable.. 1,825,439 1,751,922 1,994,771 The Chicago & Northwestern extension bonds of 1886 are secured by Materials, fuel, &c.............. 1,978,007 2,026,245 2,143,382 deposit in trust of first mortgage bonds of roads constructed or acquired, Cash on hand . .................. 2,148,880 2,680,248 2,422,769 at a rate not exceeding $20,000 per mile. Themortgageisfor$20,000,- Trustees of sinking fund....... 4,747,971 5,600,101. 6,129,761 ,ooo, and the Union Trust Company of New York is trustee. Total. ....................... $187,897,614 $196,806,196 $211,889,801 The Fremont Elkh01-n & Missouri Valley bonds have a first lien on I/4alnlities1,300 miles (Fremont, Neb., to Deadwood, D. T., 557 miles, and Btock, common and preferred,. $63,720,320 $63,720,323 t$63,723,320 branches to Hastings, Albion, &c., 743 miles), but besides the amount 579,110 529,885 519,510 of issue given as outstanding in the table $13,235,000 are held as part Btockaof propriet'ryroads,&c. Bonded debt ................... 104,985,500 112,570,500 114,235,.5 00 collateral for Chicago & Northwestern extension bonds of 1886. The 1,332,075 1,332,075 1,561,997 . Northwestern assumed $3,600,000 of the Fremont Elkhorn & Missouri Dividends declared, not due... Sinking funds ~aid............. 4,747,970 4,972,271 5,405,696 Valley bonds and guarantees the remainder. Accretions to sinking fund.... 627,8-30 724,065 LAND GRANT.-The report for 1891-92 showed that the total consider- Securities for cap. stock iss'd.. 10,009,823 ation for the lands and lots sold in that year amounted to $903,837. Securities retired from income 335,000 Net cash receipts were $568,752. The statement of amounts secured Current bills,-pay-rolls, &c.. ... 2,ioz:309 1,946:soi 2,470,10', to be paid to the company by outstanding contracts of sale in force at Uncollected coupons, &o..... .. 176,327 177,131 164,8', 6 ·the end of the fiscal year showed a total of $1,404,017. The lands Due to roads in Iowa...... . . . . 984,612 1,302,195 1,186. , 35 unsold and lincontracted for May 31, 1892, were 772,967 acres. Consolidation Coal Co.......... 125,000 .... . . 12P,520 GENERAL FINANCES.-Since May, 1892, $2,000,000 30-year deben- Accrued and accruing interest. 1,573,344 1,649,017 1,6- ~,589 ture 5s have been issued. Miscellaneous...... ...... .....• 244,649 120,087 100,580 LATEST EARNINGS.-From June 1 to Dec. 31 (7 months) in 1892 gross Land income account.......... 1,954,421 2,387,548 2,956,300 earnings were $20,878,005, against $19,529,314 in 1891. Railroad income account .... .• 5,371,977 5,470,733 6,715,183 .ANNuAL REPORT.-Fiscal year ends May 31. The annual meeting is held the first Thursday in June. The report for 1891-92 was in V. 55, Total .................•..... $187,897,614 $196,806,196 $211,889,801 p. 213, 217. See also article p. 199. The surplus of the year 1891-92 from operations was as follows: * Includes $13,235,000 bonds pledged as collateral. From the Chicago & Northwestern Railway, $1,244,450; from the t Including $2,345,164 common, and $2,284 pref'd in co.'s trea.aury "Tran.a-Missouri lines, $1,136; from the land department, $568,752; -(V. 52, p. 219, 761, 832, 862; V. 53, p. 156, 199, 222, 793, 922; V. ~ta.I, $1,814,338, available for improvements, &c. 54, p. 225, 525, 903, 923; v. 55, p. 199, 213, 217, 1036.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE CHICAGO, ROCK ISLAND AND PACIFIC RAILWAY SYSTEM: AND ITS CONNECTIONS. JANUilY, RAILROAD STOOKS 1898.] Subscribers will cont'er a great :favor by giving tmJRedlate notice o:f any error discovered lo these Tables. RAILROADS. Miles Date Size, or of Par For explanation of column headings, &c., see notes of Road. Bonds Value. on first page of tables. Ohicago If Northwesternr-(Ooncluded)- 71 Dakota Cent. lstM.,Watertown to Redfield, guar. 1st mort. on Southeast Div. (to Hawarden) gu&.r. 125 Fremont Elk. & Mo. Val. consol M. (see remarks) . 1,300 ti Sioux t,'ity & Pac. pref. stock (1st mort. on 6 m.) . 1st mortgage (assumed by C. & N. W.) ..••...... 107 2d M. Governm't lien (accrued int. $2,145,911). 107 Mo. V. & Blair RR. Bridge, 1st, re'ble after 1893. Chicago II Ohio River-1st mortgage (for $500,000) ·s6 Income bonds ................ ~ ......•.............. (Jhicago Ptwria cl St. Louis-lstmortga,68, gold ... c* i20 1st consol.M.g. ($15,000 m) ($300,0 are 6s).c* 170 Consol. mort. for $20,00 ~r mile, gold . . ....... c 170 Jacksonville Louisv. & St. • 1st M.,fold, §8.ar.c* 112 ChicagoRockisland<i:Pac.-Stock (for 50,0 0,000) .... 1st mort., Chic., Ill., to Council Bluffs branches.c* 736 Chic. & Southw. 1st M. ~incur. by C.R .I.&P.). 268 1st M. ext. and col. ($20, m.) red. aft. '94.c&r,2,010 Debenture bonds (redeemab eat 105) ...... . c*&r. . ... Alhic. <I: St. L. Elect1·ic-Capitalstockfor$7,000,000. . ••. Chicago St. Paul <I: Kansas Oity-SEE CmCAGO G REAT (Jh~o St. Paut Minneapolis ti Omaha-Com. stock. . ... Pre erred stock, non-cum. (see text)...... .. ...... . ... St. Paul Stillwater & Taylors' Falls 1st mort .... c 21 Hudson & River Falls 1st mortg~e ......... . .... c 12 Chicaio St. Paul & Minn. 1st mo ga1;e, gold... c* 1 77 St.P. Si'xC. lstM.,g.($7,000,000)$ O,OOOp.m.e 607 North Wisconsin 1st mortgage ................... c* 80 Consol. mort., for $30,000,000 ($15,000 per m.).c~ 1,374 Sault Ste. Marte & Southwestern 1st M., guar.. . . c 37 Ohicago & Soiitheastern-Mid. of Ind. 1st M., gold .. c 94 Consol. mortga e, $20,000 p. m., gold............ 94 I · , • · in .-1 st M.,g.,s.f . Seetext.c* .... Ouc.~S.S.RapiJ'lrCi s· f· -- 1882 ..... 1882 1883 $1:000 100 isss 500 &c. 1868 500 &c. 1883 188G 100.&c. 1886 1888 1:000 1,000 1889 1891 1,000 1890 1,000 100 i877 1,000&c 1869 100 &c. 1884 1,000&c 1891 l,OOO&c 10 WESTERN. 100 .... 100 i878 500 &c. 1,000 1878 1878 500 &c. 1,000 1879 1,000 1880 1,000 1880 1890 1.000 1887 1~~0 1891 1 8 89 1000 I ot~~~g I Bonds-PrlnotINTEREBT OR DIVIDENDS. pal, When Due. Rate r,er When Where P~able, and by Stocks-Last Cen . Payable om. Dividend. I i- - $1,007,000 6 ,M. & 8. N. Y., Office, 52 Wall St. 2,000,000 6 M. & N. do do 7,725,000 6 A. & O. do do 169,000 7 per an. A. & 0. do do 1,628,000 6 J. & J. do do 1,628,320 6 J . & J. U.S. Treas., at maturity. 809,000 6 J. & J. N.Y.,Nat.ParkBk.&Bos. 250,000 g. M.&N. Int. funded till Nov. '93. 618,300 M.&N. No coupons paid. 1,500,000 5 g. M. & S. N. Y., Amer. Ex. Bank. 1,041,000 5 &6 g. M. & N. do do 850,000 5 g. J. & D. do do 1,680,000 5 g. J. & J. N. Y.,DunnBros.,40Wall 46,156,000 See text. Q.-F. New York and Chicago. 12,100,000 6 J. & J. N. Y., 13 William St. 5,000,000 7 M. & N. do do 37,705,000 . 5 J. & J. do do 3,000,000 5 M. & 8. do do Sept. 1, Nov. 1, Oct. 1, Oct. 1, Jan. 1, Jan. 1, Jan. 1, May 1, May 1, Mar. 1, May 1, June 1, Jan. 1, Feb. 1, July 1, Nov. 1, July 1, Sept. 1, 18,559,427 11,259,913 Bee.text. J."·&··J. N. Y., o'tiice,"52Wall St. 334,800 7 & J, do do 125,000 8 J. & J. do do 3,000,000 6 g. M. & N. do do 6,070,000 6 g. A. & 0. do do 800,000 6 IJ. & J. do do 13,730,000 6 J. & D. do do 400,000 5 M. & N. do do 375,000 5 g. J. & J. ('!) 5 g. I ...... .... m 7 500 ,000 5 g • A. & O. N. Y. , B'k of Commerce. Jan: ·20: .i893 Jan. 1, 1908 July 1, 1908 May 1, 1918 Apr. 1, 1919 Jan. 1, 1930 June 1, 1930 Nov. 1, 1911 Jan. 1, 1917 Oct. 1, 1921 Oct. 1 , 1 9 2'g · g m .... .... IJ. I .... . . .. . . . .... 1907 1907 1933 1892 18!J8 1898 1923 1916 19 8 1928 1939 1941 1940 1893 1917 1899 1934 1921 . .. ..... Chicago Peoria & St. Lonls.-Owns from Pekin, lll., to Jackson-I is held in Chica~ on the first Wednesday in June. Report for1891-92 ville, ID., and Havana to Springfield, 120 miles, and Litchfield to East in full wa.s in v. 54, p. 941, 964, 966. Earnings, &c., have been: Bt. Louis, 5() miles; uses the Merchants' Bridge into St. Louis, 2 miles, 1889-90. 1890-91 181-92. and leases Springfield to Litchfield, old St. Louis & Chicago RR., etc., Miles owned and operated. . . 3 339 3,408 3,456 50 miles. Controls and operates the Litchfield Carrollton & Western, Passenger earnings.......... $4,613,822 $4,762,894 $5,216,761 Barnett to Columbiana, 52 miles; the Louisville & St. Louis, Centralla Freight........................ 11,828,794 11,513,845 12,289,.636 to Drtvera, 17 miles; and the Jacksonville Louisville & St. Louis, Jack- Mail, express, rentals, etc.. .. 1,196,445 1,196,895 1,183,678 sonville to Centralia, ill., 112 m.; trackage 13 m.; total syst., 416 m. ---HISTORY.-Organized in 1887. With its allied lines forms the Gross earnings.······ · · ·• • $17,639,061 $17,473,634 $18,690,075 Jacksonville Southeastern system. In November, 1890, under a Operating expenses.·· ....... · 12,475,067 12,413,794 13,147,057 traffic agreement with the Atchison Topeka & Santa Fe, a through line --was opened between Chicago and St. Louis. (V. 51, p. 608.) An ex• Net earnings.·•·••··••·· · · $5,163,994 $5,059,840 $5,543,018 tension of 100 miles to Rock Island is being built. ;efe~~e:s ~~: ~- ~.~~~:::: $~]/3~~94 $5!~~~t~o $f STOCK.-Capital stock is $3,500,000. From land department, etc . . 127,300 98,650 70,000 BONDS.-The new consolidated mortgage secures bonds at $20,000 Chic. Kan. & Neb. interest.... 1,209,640 1,216,662 152,200 per mile upon present mileage (sufficient heing reserved to retire prior ---bonds when due) and .upon the Rock Island extension; also on a line, if Total income .............. $6,500,934 $6,375,152 $5,665,219 built, from Litchfield to Springfield; the Metropolitan Trust Co., of Rent leased roads ............. $1,784,024 $1,872,113 $774,806 N. Y., is trustee. The mortgage covers $1,750,000 stock in the pro- [nterest on debt............... 2,625,550 2,714,950 2,813,325 prietary lines, and all the equipment of the road. Missouri River bridg""a 195 580 188,538 143 858 The Jacksonville Louisville & St. Louis is successor to the Jackson""· ···•· · ' (4) 1,846,232 (3) 1,384',674 ville Southea.stern, which was sold in foreclosure May 11, 1890. Its Dividends .. ·····••·· · ········· <4 >1 •846•228 ~~~ll,t:~~n~ii:~~ro~vfft! r~~.~e$U&~~ f~i~ny, which Total disbursements...... $6,451,382 $6,621,833 $5,116,663 EARNINOs.-From July 1, 1892, to Dec. 31, 1892 (6 months), gross Balance, surplus . ..... . ....... $49 , 552 $ 246, 681 $ 5!8,556 earnings were $714,814, against $670,685. -(V. 53, p. 157, 223, 474, 793; V. 54, p. 119, 597, 88'9, 941, 964, For year ending June 30, 1892, gross earnings were $1,288,095; net, 966; V. 55, p. 462, 551.) $386,400, aiainst $272,400 in 1891. Chlcqo St. Loni• & Plttslmrg.-See PITTS. CIN. CHIC. & BT. L. Chie__a:o "Bock Island & Pacific.-(See Map)-LINE OF ROAD.Chicago St. Paul & Kan. City.-See CmCAGO GREAT WESTERN. Owns from Chicago to Council Bluffs, 499 miles; Davenport, Ia., to Chicago st. Paul Itilnneapolis & Omaha.-(See Map Ohicago Atchison, Kan., 342 miles; Elmwood, Kan., to Liberal, Kan., 440 miles; If Northwestern.J-ROAD.-Main line-Elroy, Wis., to Omaha, Neb., 593 Herington,Kan., to Minco, I. T., 247 miles; Horton, Kan., to Roswell, miles; other lines, 888 miles; total, 1,481 miles, ot which 1,374 miles Col., 569 miles; McFarland, Kan., to Belleville, Kan., 104 miles; are owned, 65 miles leased and 42 miles proprietary road. branches, 524 miles; grand total owned, 2,725 miles. HISTORY.-This was a consolidation July 1880, of the Chicago Bt. Leases: Peoria & Bureau Valley Railroad, Bureau Junction to Peoria, Paul & Minneapolis, the North Wisconsin and the St. Paul & Sioux City. 4.7 miles; Keokuk & Des Moines Railroad, Keokuk to Des Moines, 162 i In November, 1882, a controlling interest in the stock was purcha.8ed Des Moines & Fort Dodge Railroad, Des Moines to Fort Dodge ana tor the Chicago & Northwestern Railway by the acquisition of 93,200 Ruthven, 144 miles; total leased, 353 miles. shares of common and 53,800 shares of preferred. ,Leases trackage: Cameron to Kansas City, Mo. (0ver Hannibal & St. STOCK.-Authorized common, $21,403,293; preferred, $12,646,833. Joseph Railroad); Council Bluffs to South Omaha, Lincoln, Neb., to Preferred stock has a prior right to non-cumulative dividend of 7 pel' Beatrice, Neb., Kansas City to North Topeka, and Limon, Col., to cent; but common is never to receive more than is paid on preferred. Denver (over Union Pacific Railroad); Denver to Pueblo (over Denver DIVIDENDS.-On preferred stock: From 1 8 81 to 1884, inclusive, 7 per & Rio Grande), total 378 miles; grand total April 1, 1892, 3,456 miles. cent; in 1885, 4~; from 1886 to 1888, inclusive, 6 per cent; in 1889, 3; 5 :~:::;:i,:~u~:!~T~rr~:1 ~~:-n~on;::~:;~tw:~ in 1890, 4; in 1891, 4; in 1892, Jan., 3; July, 312; in 1893, Jan., 312 p.c. 1n Illinois February 7, 1851, and opened from Chicago to the Mississippi BoNDs.-In 1892 consols for $317,000 were issued. There A,re also River July, 1854. The present Chicago Rock Island & Pacific was a $75,000 Minneapolis Eastern 1st m., guar., 7s, due July 1, 1909. consolidation June 4, 1880, with $50,000,000 stock authorized, and a L ANDS.-The land sales 1n 1891 were 110,231 acres, for $629,890,1. in• atock dividend of 100 per cent to the holders of Chicago Rock Island eluding lots; land contracts and notes on hand December 31, hi91 & Pacific stock. The Chica~o Kansas & Nebraska theretofore leased $1,100,103; lands undisposed of, 496,962 acres. was purchased at foreclosure sale in April, 1891, and is now owned in L ATEST EARl'IINGS.-From Jan. to Nov. 30, 1892 (11 mos.), gross earn fee simple. See V. 53, p. 223. ings (partly estimated) were $8,360,823, against $7,232,949 m 1891 . .DIVIDENDS.-In 1880, 8:lg cash and 100 per cent in stock; from ANNUAL R EPORT.-Report for 1891 was in CHRONICLE, V. i4, p. 558. 1881 to 1887, inclusive, 7; in 1888, 612; in 1889, 4; in 1890, 4; in 1891, l890. 1891. 1889. 3; in 1892, 4; in 1893, February, 1. Passenger earnings ... .... . ...•. $1,687,909 $1,677,130 $1,956,982 PRICE OF STOCK.-In 1885, 105@132; in 1886, 12018@131; in 1887, Freight...... . ... . ....... . ...... . 4,405,450 4,845,392 5,718,281 109@140 7s; in 1888, 94 7 s@114lg; in 1889, 8919@10438; in 1890, 6119@ Mail, express, &o............ . . . 324,499 325,798 346,049 9811s; in 1891, 6338@9018; in 1892, 75½!@9414; in 189J, to January 20, inclusive, 8214@8812. Total gross earnings .... . ... $6,417,858 $6,848,320 $8,021,312 BoNDs.-The extension and collateral trust 5 per cent bonds (trustee Opera.ting expenses and taxes. 4,484,412 4,788,569 5,446,114 of mortgage United States Trust Company) are issued at the rate of $2,575,198 $15,000 per mile for single track, $5,000 per mile additional for equip- Net earnings ..... . ........ . ..... $1,933,446 $2,059,751 468,728 ment and $7 500 for second track. They are secured by the Net from land grants........... 561,426 450,715 direct lien o:f a first mortgage or by deposit with the trustee of an equal Total income . . .........•.... $2,494,872 $2,510,466 $3,043,926 amount of first mort. 6 p. c. bonds of branch lines. After July 1, 1894, $92,731 $105,993 they are red'le at 105 in the order of their numbers. beginning with the Rentals, etc., paid . ............. $90,644 1,280,228 1,346,827 lowest. On Nov. 1, 1892, there were $37,705,000 of these bonds out- Interest on debt, less credits.. . 1,323,614 (4) 450,272 (5) 562,840 standing, and $191,000 had been purchased for the sinking fund; of Dividends on pref. stock . ...... (4) 450,2'72 the total sold $30,153,000 were issued at $15,000 per mile on 2,010 $687,235 $1,028,266 miles of track; $1,200,000 for Kansas City terminal property and Balancesurplus ................. $630,342 $6,543 000 for equipment. See mortgage abstract, V. 47, p. 260. -(V. 50, p. 370, 449; V. 52, p . 293,461,534,832; V. 54, p • .558.l The debentures of 1891 (U. S. Trust Co., trustee) were issued to pay Chicago & Sontheastern .-OJ?erates from Anderson, Ind., to tor terminals and betterments as needed. The issue is for $10,000,000 Brazil, Ind., 106 miles, of which 12 nnles, Wa veland to Land Creek, is and the bonds are redeemable on notice any coupon day at 105. tra ckage over St. L. Van. & T. H., leaving 94 miles owned. Formed in GENERAL FINANCES.-The Burlington Cedar Rapids & Northern, a 189 l to succeed Midland of Indiana, reor~anized. The Midland of considerable amount of whose stock is held by Rock Island, be~an Indiana mortgage (assumed) has been limitea to $375,000. dividends in January, 1893; see that company. The reorganization Chicago & South Side Rapid Transit.-(" Alley Elevated.") of the Minneapolis & St. Louis-which see-will al:.o increase the Rock t-1evated road in operation in Chicago, extending from ConIsland's quick assets. In 1892 for the extension in the Indian Terri- -Owns gress Street, through the alleys in the middle of each block_, Wabash tory, and for equipment, $2,774,000 extension and collateral trust 5s Ave. and State St., etc., to 55th St., about 5~ miles. The roaa will run were issued, while $1,000,000 debentures were sold for i.:nprove· to the World's Fair grounds. Stock, $7 500,000; par, $100. Mortgage menths, etc. (of 1889) trustee, Northern Trust Co. of fiiiiiois, was to cover road from EAltNINGS.-From April 1, 1892, to Dec. 31, 1892 (9 months) , gross Van Buren Street to Sixty-seventh Street. The bonde are redeemable (estimated), were $14,483,435, against the estimated gross earnmgs, after Oct. 1, 1899, at 110 and interest when drawn by lot. In January, $13,502,243 in 1891. 1893, stockholders vote on issuing $3,1 ·00,000 first mortgage bonds on ANNUM. REPORT.-The fiscal year ends March 31. Annual meeting "second see.tion." https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis g:i\~brn :h:rl::!i MAP OF THE CINCINNATI, HAMILTON AND DAYTON RAILROAD AND CONNECTIO NS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, RAILROAD STOCKS AND BONDS. 1893.J Subscribers "W"ill conCer a great Cavor by giving immediate· notice oC any error discovered In these Tables. RAILROADS. F or explanation of column headings, &c., see notes on first page of tables. 0 hie. Un.Trans.-St'k ($1,000,000ispf.),5p.c.,cum. 0 hie. & West. Indiana-Stock ........ ..... ........... 1st M., fold, s. :f., subject to call at 105 .......... c* Genera mort]ftold, sinking fund, red. at 105 .. c* 0 hicago & West whigan-Stock .. ................... Grand Rapids Newaygo & Lake Sh. 1st M. 2d Div. Chlo. & West Mich. general mort. ($12,000p.m.) .c* Chic. & No. Mich. 1st M., guar., $18,000fcermile.c* Ohippewa Valley-latM.,,, $&£ for $1, 00,000. c* 0 ttJ!~e~?:t!~f;:t!J... 0 incinnali Dayton & I1'onton-Stock ....... ......... ~st_mort~~e g?ld, guar. p. & i. by C.H. & D ... c* 0 incinnati amilton & Dayton-Stock .... ...... . ... Preferred stock, Series A. . . . . . . . . . . ............... do Series B ........... . .............. "Eagle" ............ .... .......... do Consolidated mort. $ & £, sinking fund ......... c* do do .................. c* do ......... . ... .. ... c* do Second mortgage, gold ............. .......... .... c* G~neral mortga§.e, $7_,800,000, gold ............ c_* Cin. Ham. & I. ( unctlon)RR., lstM., guar.p. &1. 0 inn. Jackson & Mackinaw-Capital stock......... 1st mortgage for $4,800,000, gold .... .. ......... c* 0 incinnatiLebanon & Nm·the1'n,--Stock ($1,000,000) 1st mortgage ......... ............................. c ConsoL mortiage for $500,000 .................... Non-interest earing certificates .................. Oi·ncinnati (I Muskingum Valle1J-Stock......... . ... 1st mortgage ...................................... c 0 incinnati New Orleans & Texas Pacific-Stock ..... Car trusts on July 1, 1892 ......................... ·-•~~~~~~~~,~~?. ~~~ ~~~: Bonds-.PrtnOl· · INTEREST OR DIVIDENDS. Miles Date Size, or Due .. .A.mount Rate per When Where Payable, and by pal,When of Par of Stocks-Last Outstanding Road. Bonds Value. Cent. Payable Whom. Dividend- ·:i:s ----- ----- ----$100 $2,000,000 ---- ---- 48 48 1879 1882 10 482 93 47 65 97 ..... 14<i 1875 1881 1891 1888 1890 1891 ---- .... ..... ..... .. ... 60 60 60 69 60 99 331 331 0 ---- ... ... 1891 .... .... ..... .... 1875 1875 1875 1887 1892 1873 ------- 1892 38 1886 .... ..... 38 ---- .... ...... 148 336 1870 ·-·· ..... ...... 5,000,000 ---1,000 1,828,000 1,000 8,396,666 100 7,448,200 500 &c. 19,000 1,000 5,750,000 1,000 1,622,000 1,000 (1) 1,000 hypothec't'd ... 500,000 5,000,000 ---1,000 3,500,000 100 4,000,000 100 500,000 100 300,000 100 595,900 1.000 996,000 1,000 1,371,000 1,000 435,000 1 000 2,000,000 1,000 3,000,000 1, )')O 1,800,000 100 16,300,000 1,000 4,000,000 100 992,000 1,000 200,000 ..... Nil. Sept.'92 . .... 172,440 50 3,997,320 1,000 1,500,000 100 3,000,000 ....... 351.AR6 Han- j --· · Various 6 g. 6 g. See text. 7 5 5 5 g. 6 g. ....... ..... Various M.&N. Q.-M. F. & A. J. & D. J. & D. M.&N. J. & J. J. & J. ...... ---- ---··· ---····· N. Y., & Co. do do Boston Of., 50 State St. N. Y., Un. Tr. & Boston. do do Bost'n, Nat. Webster Bk. New York and London. . ............ Aug. 1, 191S.'I Dec. 1, 1932'. Au,r. 15, 1892' June 1, 1905. J)ec. 1, 1921. May 1, 1931 Jan. 1, 1929 Jan. 1, 1920 Dre.xei; M. ·········- ..5.g. M:·&·N. N. Y:;.tessier&°C054 Wall See text. i:-F. Cincinnati. . do 4 per an. .-J. 4 per an. Q.-J. do 4 per an. Q.-M. do A. & 0. N.Y.,Kessler&Co54Wall 7 do do A. & o. 6 A. & 0. do do 5 do do 412g. J. & J. 5 g. J. & D. N.Y., Blair&Co., 33Wall J. & J. N.Y.,Kessler&Co54Wall 7 ------·-----· New York. 4 g. J. ··&·n. 5 5 ..... ....... 7 2 6 (1) (1) May··ci94I Nov. 1, 1892 Jan. 5, 1893 Jan . 1, 1893 Dec. 1, 1892 Oct. 1, 1905 Oct. 1, 1905 Oct. 1, 190lli Jan. 1 1 1937 June 1, 193 Jan. 1, 1908 June· t· ·i991. ............ ------·--·······-· J. & J. Cinn., Fourth Nat. Bank Jan., 1916. .......................... ........ ---··--· .......................... . ....... --- ····· ----······-·-··-····-J. & J. Jan.,'87,co~.lastpaid. Jan:. i,. °i90l ..... ..... JCincinnati, do o.'s Office. Oct. 19, 1891 do 1893-7-6 Chicago & Western Indiana.-Owns from Dolton and HISTORY, ETc.-Company chartered in 1846. Mrun line opened iJI mond, Ill., to Chicago, with a belt railroad and branches, with wart'- 1851. Leased lines added at various times since. houses, elevator, &c., four main tracks, aggregating 100 miles, and with In February, 1892, it was reported that this company would acquir · sidings, 173 mil~s of track in all, includin~ 2d, 3d, 4th_ and siding trac11 tae Indianapolis Decatur & Western RR. (which see). STOCK, BONDS, &c.-In May, 1892, voted to increase common stock (of which 66 miles are leased to Belt Railway of'. Clucag?). !tnd aoout 800 acres of re~l estate. LE.A.SES road and t~rrnrna,l facilities t? t~e by $4,000,000 for extensions, double track, new equipment and fundWabas~, the Chic~go & Grand T!ul!,k, the Chicago & Ea~tern Illinois, ing floating debt. Also to issue a general mortga~e for $3,000,000; th the. Chicago & Er1_e and theLornsville New Albany & Chicago [eaqhof supplemental deed provides for the issue under this general mortgage which five compames owns $1,000,qoo stock], and also to the Atch}SOn of $4,800,000 additional bonds for the sole purpose of retiring the Topeka & Santa Fe and the Belt Railway; the annual rentals P!OVlded prior liens at maturity, awl stipulates that at maturity the prior bonds by the l~ases are tC? exceed by at least 20 por cent the annual mterest shall be paid and not extended; trustee, Mercantile Trust Company of on ~onds outstanding. New York. The mortgage covers the perpetual lea e of the Dayton & CAPITAL STOCK, $5,000,000, all owned as above stated. Dividends Michigan, the profits under which are large. V. 54, 799; V. 55, p. 373. have been paid at irregular intervals, the rato in 1892 being6per cent. In April, 1891, the Cincinnati Dayton & Ironton R.R. (which see) BoNDs.-Sinkingfundpayments (amountingin 1892to about $125,000) was leased for 99 years, its bo!1ds bein~ guaranteed. . . a nnually retire a portion of the first mortgage bi•nds at 105 and interC?mpany (?wnS $700,000 CincJnnati Hamilton & Indianapolis bond& est, and after they are all drawn the general mortgage bonds become not mcluded rn amount outstanding above. subject to same sinking fund and will be drawn at same price in such DIVIDENDS on common stock since 1882--In 1883, 9 per cent; iR 1884, annual amounts as will retire the debt at or before maturity. The 6; in 1885, 6; in 1886, 7; in 1887, 6; in 1888 and 1889, nil; in Hl90, bonds cannot be retired in any other manner or amount. In December, 5 per cent; in 1891, 5 per cent; in 1892, 5. 1892, $1,000,000 new bonds were issued for improvements, &c. V. 54, Dividends on preferred stock from January 1, 1883, to July, 1886, al p. 761, and in January, 1893, $2,000,000 more were authorized for rate of 6 per cent; from Dec., 1886, to date, at rate o:f 4 per cent yearly~ enlarging terminals. REPORT for 1891 was in V. 54, P, 1009. (V. 53, .ANNUAL REPORT.-Fiscal year ends Dec. 31. Income account for 1891 p. 256; V. 54, p. 725, 761, I 008; V. 55, P• 373, 1036.) was in v. 54, p. 924. Earnings have been as follows, the interest on bond., Chicago & West Mtchtgan.-Owns :from Lacrosse, Ind., to in 1891 including interest on the C.H. & D.'s own bonds, $263,790; Traverse City1 301 miles; Allegan to Pentwater, 98 miles; Big Rapids Dayton & Michigan bonds, $137,460, on Cin. Ham. & Ind. bond&, Junction to Big Rapids, 52 miles; other branches, 31 miles; total oper- $126,000, a.nd on Ctn. Dayton & Ironton bonds, $39,200: ated, 482 miles. The Chicago & North Michigan (see below) is in oper1890. 1891. ation from Traverse City to Elk Rapids and Bay View, 93 miles. Gross earmngs ....••...•..................... $3,896,451 $4,658,81-3 ORGANIZATION, STOCK, &c.-Successors of Chicago & Michigan Lake Net earnings .................................. $1,519,812 $1,681,641 Shore January 1, 1879. Consolidated in September, 1881, with the Interest on bonds $528 630 $566 450 Grand Haven Road and the Grand RapidsNeway~o& Lake Shore. o H & D d" 'd ··d·······--·············· ··· 260 1874 263782 Stock increased $725,000' in September, 1892, to purchase the stock o:f · · : _ivinden s. · · · · · · · · · · · · · · · · ·· · · · · · · 1 7 5 339 180 78 ' ' the Chicago & North Michigan-whose $1,675,000 first mortgage bonds D. & M. divide s.··························· a re endorsed with a f.1arantee of principal and interest. See V. 52, p . Total disbursements ...... ----·-·......... $964,843 $1,011,019 4 5 35I~E~i s~~!1s8~In 1881 and 1882, 212 per cent; in 1883, 3; in Balance, surplus.········ ... ·················· $ 554 •969 $ 670 , 623 1884, 4; in 1885, 112; in 1886, 3; in 1887, 212; in 1888, 2; in 1889, 2; -IV. 52, p. 534, p. 80, 939; V. 53, p. 125; V. 54, p. 287, 799, 92i!, 965, in 1890, 3; in 1891, Feb., 2; Aug., 112; in 1892, Feb., 2; Aug., 112. 1047; V. 55, p. 145, 215, 373, 639, 1110; V. 56, p. 81.) LATEST E.A.RNINGS.-Jan. 1 to Nov. 30, 1892 (11 months), gross $1,Cincinnati Indianapolis St. Louis & Chica«o -see Cleve854,42-3, against $1,613,954 in 1891 ; net, $494,547, against $504-,5"8; land Cincinnati Chicago & St. Louis. charges, $276,238, against $253,805; balance, surplus, $218,309, Cincinnati Jackson & lliackinaw.-Owns from Carlisle, O., aga.inst $250,783 in 1891. north to Addison, Mich., 190 miles; Allegan to Dundee Mich., 13H .A.NNuAL REPORT.-Report for 1891 was in CHRONICLE, V. 54, p. 642, miles; branches, 3 miles; leases trac!!::age Dundee to Toledo, 23 milea; showing gross earnings of $1,757,553; net, $525,753; interest total operated, 34.9 miles. c~~ges, $272g832; other payments, $2,319; balance for stock, $250,602; HISTORY.-This railwa1J company succeeded on April 1, 189~, a raildividends, $ 2 2 , 337; surplus for year, $l 8 ,265 · (V. 52 • p. 533 ; V. 53 • 1'0ad company of same name, sold in foreclosure in 1 801. (V. 53, p . P• l56, 1 8 7 ; V. 54, p. 64 2, 889 ; V. 55 , p. lOO, 255 • 297 ·> 520, 753, 922.) Plan of reorganization was in V. 53, p. 125. Choctaw Coal & Railway .-In operation from Wister, Indian Road was to be leased tor 9·9 years to the Cin. Ham. & Dayton, but Territory, on St. Louis & San Francisco Railway, to South Mc.A.lester, in December, 1892, an injunction against lease was made permanent Indian Territory, on Missouri Kansas & Texas, 65 miles; Fort by Court of Common Pleas in Cincinnati. see v. 55, p . 1110. Th Reno to Oklahoma City, 32 miles; total, 97 miles. Projected easterly directors are conRiderin\whether to carry matter to higher court or to Little Rock, Ark., and westerly to Albuquerque, on Atlantic b d 1 d · d d 1 ·tho t c H & D gu ra & Pacific, with branch to Denison, Tex. Holds valuable coal leases. a an on ease an lSSUe on s un er P an WI u ·· · · a nBonds for about $2,000,000 were pledged for loans. Stock outstand- tee. The surplus of $800,000 bonds would permit of extensions. EARNINGS.-From July 1, 1892.{ to Nov. 30, 1892 (5 months) , gros3 ine;, $3,750,000-par, $50. Car trust 6 per cents, $200,000. A comnnttee, of which E. P. Wilbur of Philadelphia is chairman is preparing $334,161, against $310,939 in 18:,1; net, $102,750, against $84,789. For year ending June 30, 1892, gross earnings were $696,588; ne , a plan :for either leasin~ selling, or reorganizing the property. On January 8, 1891, J:'jdwin D. Chadick and Francis I. Gowen were $172.824. In 1890-91 gross, $724,972; net, $178,787. Walston H. appointed receivers, and $500,000 receivers' certificates were issued. Brown, President, 20 Nassau Street, N. Y. (V. 53, p. 435.1 520, 712, 753 • The receivers' report in May, 1891, showed total indebtedness $2,756,- 922,968; V. 54, p. 33,119,287,433,485, 1047; V. 55, p . .145, 639, 1110. ) 000; road constructed 108 miles; road operated 65 miles; April ~oss Cincinnati Lebanon & Northern.-Ci.ncinnati,O., to Dodds, 0. earnings $56,947; net, $24,480; coal shipments 800 tons daily. In 36 miles; branches, 2 miles; total1 38 miles. This company was :formed May gross earnings were $67,252; net $29,207. in 1885 as successor of the Cinomnati Northern, sold in foreclosure. Cincinnati Dayton & Ironton.-(See map Oincinnati Hamil- Consolidated mortgage bonds :for $500,000 were authorized in 1891. Jon & Dayton.) Operates from Dayton to Ironton, Ohio, 162 miles, but none issuen to Sept. 1, 1892. In 1891-92 gross earnings wer& titandard gauge, of which 8 miles between Bakers and Byers and 12 $132,640 (against $136,281 in 1890-91); net, $43,637; surplus over miles between Deans and Ironton under trackage contracts; also owns charges, $28,308. (V. 53, p. 569.) :from Wellston to Buckeye Furnace, 12 miles, and coal branches, 10 Cincinnati & Muskingum Valley.-Owns from Morrow, Ohio. miles; total owned, 165 miles; total operated, 184 miles. to Trinway, O., 148 miles. Bold under :foreclosure December 3p HISTORY.-Succeeded to a portion of the Dayton Fort Wayne & Chi· 1869, and reorganized as at present January, 1870. Gross earninge cago sold in foreclosure Jan. 20, 1891 (see V. 52, p. 164). LEASED in in 1891, $465,260; net1 $66,342; interest on bonds, $105,000; other April, 1891, for 99 years (renewable forever) to the Cincinnati Hamil- charges, $11,119; deficit. $49,776. .A.mount due Pittsburg Cincinnati ton & Dayton, which guarantees the bonds, principal and interest, by & St. Louis, former lessee, December 31, 1891, $1,081,013, and for couendorsement, and will turn over one-half the net income remaining pons up to January, 1892, $604,415. In December, 1892, coupon due a.:fter the payment of operating expenses, taxes and interest. See V. January 1, 1887, was paid. Capital stock, $3,997,320-par, $50-of 52, p. 534,680. GROSS EARNINGS for 8 mos. ending Dec. 31, 1891, were which Penn Co. owns $2,430,900. Pennsylvania Railroad owns $754,$378,895; operating expenses and taxes, $277,~47; net, $101,047. 000 of the bonds. (V. 55, p. 1078.) H.F. Shoemaker, President, No. 80 Broadway, New York City. Cincinnati Ne"W" Orleans & Texas Paciftc.-(See Map. J-ORCincinnati Hamilton & Dayton.-(See Map.)-Owns from Cin GANIZATIUN.-Company organized under laws of Ohio Oc . 8, 1881, and cinnati, 0., to Dayton, 0., 60 miles; leases Dayton & Michigan, Dayton operates under lease the Cincinnati Southern, extending :from Cinto Toledo, 142 miles, and Cincinnati Dayton & Ironton, Dayton to mnnati to Chattanooga, Tenn., 336 miles. In April, 1800, the East Ironton and branches 184 miles. Controls Cin. Hamilton & Indiana- Tennessee Virginia & Georgia obtained votin"' power on $1,000,000 polis, Hamilton to Indianapolis, 99 miles ; Cin. & Dayton, Hamilton stock, through purchase of a controlling interest in the Alabama Greal to Middletown, 14 miles; Cincinnati Dayton & Chlcago, Dayton to Southern, and company became a part of the East Tennessee system. Delphos, 95 miles; Troy & Piqua, 8 miles; Columbus Findlay & See CHRONICLE, Vol. 50, p. 560; v. 51, p. 569. RENTAL due tho Northern, Deshler to Findlay, 18 miles; BowliRg Green R. R., City of Cincinnati, which owns the Cincinnati Southern, $912 ,000 till Tontogany to North Baltimore, 21 miles. Total 641 miles. OwnR Oct. 12, 1891; $1,012,000 till Oct. 12. 1896; $1,102,000 till Oct. 12~ jointly with Big Four the Dayton & Union-wllich see. 1901, and $1,~rn2,000 till 1906. Claims against the city a re p ending. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1NVEST0Rb' SUPPLEMEl\ '!'. [VOL. LVI. MAP OF THE CLEVELAND, CANTON &SOUTHERN RAILROAD & CONNECTIONS. RAILROAD STOCKS AND BONDS.. J AKU.ABY, 1898. j Subscribers wtll conCer a great favor by giving lnunedlate notice oC any error discovered In these Table•. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. Oincinnati Portsmouth d: Virginia-Common stock Preferred stock (see text) _____ .................... Oin. Richmond & Ft. W.- 1st mort., gold, int. ~-c* Oin. Saginaw If Mackinaw-1st M. for $2,000, 00 Oin. S. cf: Olev. and Oin. <I: scr·-See Cl. 0. Oh. cf:St. . Cleveland Akron cf: Oolum us.-Stock ............... General mort~age, gold (for $1,800,000) ......... o EquiS,- Tr. & 2 M., gold, red. before maturity ... c• Oleve. anton If South.-Common stock, $5,000,000 Preferred 6 per cent stock $10,000,000 ........... Cleveland & Canton 1st mort~age ........ . .. . .... Equip. Tr. & Imfirove. 2d M. ( 2,000,000) gold c .. Coshocton & Bou hem 1st mortgage, gold ........ Waynesfiurgh & Canton 1st mort a e, gold ..... c Cl. Can. & So., consol mort., $26, O per mile .... Car trust bonds .....•........................ . ..... Cleve. Oinn. Oh. If St.L.-Com. st'k($28,700,000au.) Preferred stock, 5 per cent, non-cumulative....... Indianaiolis Cincin. & Lat. mortga~e ............ c C. I. Bt. . & C. con. M.,drawn at 10 , s.f. 1 p. c . c" General lstM.. gold, s.f. 1 p.c., not dr'n ..... c&r Bel. & Ind. 1st mortgage (£art due yearly) ........ Clev. Col. Cin. & Ind. 1st ., sinkin fund ........ Con. mort. (see text) drawn at 10 ifunst'mp'd Gen. consol. mort, ($12,000,000) gold..... c* & r Indian & Bt. L. 1st mor\i in 3 ser. of $667,000.c. 2d M.($2,0~000),gol ,Indianap. to Terre H . c. Cl.Ctn.Chic.& t.L. 1st M.(Cairo Vm. & Chic.) g.c" W1lite Water branch, let mortgage, fold ..... c* Bf.ring. & Col. Div. (Col. Bp. & Cin.), st M.,~.c* B . .Lc,uis Div. (Bt.L.Alt. & T. H.) coll. tr.,1,,0 &r Cin. Wab. & Mich. Div. 1st mortgage, gol . . .. c* f 66 6 l I Bon<l.8-PrlnolINTEREST OR DIVIDENDS. Miles Date Size, or pal,When Due. Amount of of Par Outstandin.,. Rate per When Where Payable, and by Stocks-Last Road. Bonds Value. "'I Cent. Payable Whom. Dividend. - - --107 107 86 53 ..... $1:ooo 1890 $or£ 100 500 &c. 1,000 .... 100 100 iss1 1,000 1891 1,000 1887 1,000 1888 1,000 1892 ... . . . .... i6i 161 30 6 ---.... ---- i54 175 400 119 391 391 391 72 72 267 69 45 194. 203 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ..................... ·····-------·---·- 4,000,000 See text. Ann'lly. 1,765,000 I1 5 g. M. & s. N: "j: ii'orsey. 730,000 6 g. F. & A. do do 4,151,209 . ..... . ... . ........ ......... 8,645,274 J." ·&--J. N. 2,000,000 :&Bos. 1,065,000 g. A. &O. Boston, Internat. Tr.Co. 600,000 J. & J. do do 200,000 5 g. J. & D. do do J. & J. do 5 do . ... ·134):J7i 6 M.&N. do do .... ··ioo 28,000,000 ,see text. Semi-an Drexel, lllorgan & Co. 100 10,000,000 5 per an. Q.-J. do do isi,1 1,000 379,000 7 F. & A. do do 1880 1,000 752,000 6 M.&N. do do 1886 1,000&(1 7,768,000 4 g. Q.-F. do do 1,000 1864 129,000 J. & J. do do 7 1,000 1869 3,000,000 M.&N. 7 do do 1874 1,000 4,062,000 7 or 6 g. J. & D. do do 1,000 1884 3,205,000 6 g. J. & J. do do 1,000 1869 Various 2,000,000 do do 7 1,000 1882 6 g. M.&N. 500,000 do do 1,000 1890 5,000,000 4 g. J. & J. d.o do 1,000 1890 4 g. J. & . J. do do 650.000 1890 500 &c. 1,250,000 4 g. M.& 8. do do 1~90 1,000&c 10,000,000 4 g. M.&N. do do 1891 1,000 4,000,000 4 g. J. & J. do do $65,897 v. Cincinnati & Sprlngfleld.-Operates from Cincinnati, 0., to Springfield, O., 80 miles, of which 32 miles are leased from other com• panies. The whole is leased and operated by Cleveland Cincinnati Chi· ca.go & Bt. Louis Company, giving them a line into Cincinnati and depot accommodation. Lessees apply any excess over operating expenses and interest to Cincinnati & Springfield stock. Interest is guaranteed on the first mortgage, one-half by the lessees and one-half by Lake Shore & Michigan Southern. Stock is $1,100,000 U,ar $50), voting power on $616,450 being h~ld by trustee for Cleveland Cincinnati Chicago & St. Louis. To January, 1890, the Cleveland Cincinnati Chicago & St. Louis had advanced $2,951,814. In year ending June 30, 1890, gross earnings, $1,196,410; net, $332,618; deficit under interest, &c., $45,137. <Jleveland A.kron & <Jolumbus Kall-way.-Owns from Hudson, 0., to Columbus, 0., 144 miles; Dresden branch, Kilbuck to Trin way, 34 miles and trackage, Cinn. & Muskingum Valley Ry., Trinway to Zanesville, 16 miles-50 miles; total, 194 miles. HISTORY.-Bold in foreclosure in 1882, and reorganized under this title in January, 1886. DIVIDENDS.-In 1886 and 1887, each 112 per cent; for 1888 and1889 each 1 p. c.; in 1890 1 p. c.; in 18911 p. c. in Nov.; in 1892, 114 in Oct'. B01ms.-The equipment bonds (authorized to a total of $890,000, or $5,000 per mile) are a second mortgage. They are redeemable at 100 and interest on August 1, 1900, and at 105 and interest on any August 1 thereafter prior to 1930. Bee full statement to N. Y. Stock Exchanfie ~~e:e2is~!:a: in V. 56, p. 87. In Dece:nber, 1892, $130,000 s 9 LATEST EARNINGS.-July 1, 1892, to Nov. 30, 1892 (5 months), gross, $439,309, against $419,970 in 1891; net, $125,818, against $119,141. ANNU..u REP0RT.-Fiscal year ends June 30. Report for 1891-92; with balance sheet, was in V. 55, p. 588, showing gross earns. (in• eluding Dresden branch) $967,945; net, $262,793; rentals, $39,583, taxes, $25,851; interest, $123,711; dividends, $50,000; capital expenditures,. $19,813; balance, aurplus, $3,835. In 1890·91 $902,536; net, $239,;180. (V. 53, p. 6'73; V. 55, p. 588, 1110; V. 56, p. 87.) :r1ff ----- ••••• . ....... 1; · 7 g. J. & D. N. Y. Winslow, L. & Co. June· i921 5 g. J. & J. New York and London. Jan. 1, 1920 Y<: A: 1890 $398,051 $281,890 def.$46,433 55, p. 543, '721, 1034.) <Jlnclnnatl Portsmouth & Vlrglnla.-Owns from Idlewild, O., to Sciotoville, 107 miles; trackage (Cin. Lebanon & Northern) to Cincinnati, 4 miles; total, 111 miles. Ohio & Northwestern was sold in foreclosure March 131 1890, and reorganized. Preferred stock is entitled to 5 per cent diviaends, then common to 5, then both pro rata. From July 1 to Nov. 30, 1892 (5 months), gross earnings were $125,908, against $120,591 in 1891; net, $30,142, against$24,116. In year 1891-92 gross earnings were $254,247: net, $41,499; taxes, $5,825; miscellam ous payments, $9,054. In 1890-91 gross, $234,192; net, $24,600. (V. 52, p. 899; V. 53, p. 48; V. 55, p. 1081.) <Jlnclnnatl Richmond & Fort Wayne.-Owns from Richmond, Ind., to Adams, Ind., 86 miles; leases 5 miles of Pittsburg Fort Wayne & Chicago; total operated, 91 miles. Leased for 99 years to Grand Rapids & Indiana, the rental being net earnings. Interest is guaranteed by the lessees and by the Pennsylvania Company and Pitts· burg Cincinnati Chicago & St. Louis Company jointly. Gross earnings in 1891, $452,068; net, $121,840; interest on bonds, $126,000; rental, etc., $37,540; deficit, $41,699. Profit to guarantors in 1890, $3,854. Btoc.ll:, $1,709,313-par, $50, of which Penn. Co. owns $1,256,900, Toti:.,l advances by guarantors to December 31, 1891, $1,155,203. <Jlnclnnatl Saglna-w & ll.Iacklna-w.-Owns Durand to West Bay City, Mich., 53 miles. Successor in 1890 to the Toledo Saginaw & Mackinaw. In October, 1890, leased till January 1, 1920, to the Chicago & Grand Trunk Railway Company. Of the $2,000,000 bonds $320,000 were reserved for new termmals, extensions, &c. In 1891 gross earn_ings were $184,731; netz. $40,867; interest on bonds, $84,000; deficit for year, $43,132. (V. ol, p. 645.) <Jlnclnnatl Sandusky & Oleveland.-Owns from Sandusky, 0., to Dar.t,on, 0., 154 miles; branch, Carey to Findlay, 16 miles; total 170 miles. October 31, 1890, leased till 1969 to the Cleveland Cincinnati Chicago & Bt. Louis, which purchased the common stock, and agreed to pay interest on the bonds and dividends on preferred stock. Bee V. 51, p. 457. The preferred stock has a lien by deposit of old bonds in trust. -(V. 52,p. 80,428; V. 55, p. 177.) Net surplus..... I . .... •••• iiis iss1 178 Bee V. 55, p. 721. For decision of Superior Court in November as to fraudulent issue of $250,000 stock, see V. 55, p. 1-034. DIVIDENDS since 1881: In 1882, 112 per cent; in 1883, 3; in 1889, 3; 1n 1890, 6 per cent; in 1891, 4 per cent. LATEST EARNINGS.-July 1, 1892, to Nov. 30, 1892 (5 months), gross $1,806,256, agst. $1,923,181 in 1891; net, $431,617, agst. $612,477. ANNUAL REP0RT.-Fiscal year ends June 30. Report for 1891-92 was \n V. 55, p. 721 . 1891·92. 1888·89. 1889·90. 1890-91. Gross earnings . .... $3,655,859 $4,309,144 $4,379,143 $4,337,498 $1,137,688 Net earnings ........ $1,145,256 $1,580,963 $1,354,640 Rental pa.id,........ $912,000 $912,000 $912,000 $1,124,121 60,000 Dividends_.... . ..... 90,000 180,000 60,000 Sinking fund, etc... 77,359 90,912 100,750 -(V. 53, p. 289,601,968; $1/•66,ooo I 594,ooo I 1,800,000 • 1,680,000 . .... is1i .5.g. g y:;Knickerb.Ti- Oct. 3, 1892 Mch. 1, 1927 Aug. 1, 1930 . ....... 1; Juiy · ·i917 July 1, 1917 1917 June 1, 1928 194~ Feb:· i·,· j993 Jan. 2, 1893 Feb. 1, 1897 May 1, 1920 Aug. 1, 1936 Jan. '94 to '99 May 1, 1899 June 1, 1914 Jan. 1, 1934 July 1, 1919 Nov. 1, 1912 Jan. 1, 1939 July 1, 1940 Sept. 1, 1D40 Nov. 1, 1990 July 1, 1991 Cleveland Canton & Southern.-(See Map.J-Owns from Cleve• land to Zanesville, 0., 145 miles; Canton to Sherrodsville, 43 miles; Minerva Branch, 3 miles; Canton to Marks, 0., 6 miles; Chagrin Falla to Solon, 8 miles; other, 5 miles; total, 210 miles. HIST0RY.-A consolidation in May 189~ (V. 54 p. 844), of Cleveland Canton & Southern (including Coshocton & Southern), Wayne&• burg & Canton, Cleveland Chagrin Falls & Northern and Cleveland & Canton, the last named successor to the Connotton Valley RR., sold in foreclosure in May, 1.885. The consolidated company comprises 206 miles of main track, well equipped with rolling stock, and including all the terminal property M Cleveland, Canton and Zanesville. B0NDS.-The consolidated company assumed all the liabilities of the constituent companies, and has executed a consolidated 5 per cent mortgage for $26,000 per mile covering all the property. In the company's treasury July 1, 1892, were $200,000 Cleveland Canton & Southern 1st 5s, $200,000 Cleveland Chagrin Falls & Northern 1st 5e and $935,000 equipment trust and improvement bonds, while bills payable were $865,211, debenture bonds due 1896, $150,000, due on Cleveland Wharf property, payable in 1895, $105,000, coupon notes due in 1894 and 1896, $47,000. EARNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 months), gross $453,316, against $348,681 in 1891; net, $158,093 against $122,979. ANNUAL REP0RT.-Fiscal year ends June 30. Report for 1891·92 was given at length in V. 56, p. 81, 87, showing gross earnin~s ~786,552, against $660!668 in 1890·91; net, $263z.611 ragst. $227,8~8 ; mterestpaid, $227,576, balance, surplus, $36,030. (V. 51, p. 644, . 52, p. 350,939; v. 53, p. 256,836; v. 54, p. 844; v. 56, p. 81, 8'7.) Cleveland Cincinnati <Jhlcago & St. Louis.-( See Map.)(The lines of this company, clearly shown on the accompanying map) are made up as follows: Owned directly Miles. Miles. Cleveland, 0., to Columbus, 0. -138 Colum. Hope &Greensb'g RR.Galion, 0., to Indianapolis .•••. 203 Columbus to Greensburg,Ind. 26 Delaware to Springfield........ 50 Trackage-Cincinnati toLafayette ......... 174 L.E.& W.,Laf.to Templet'n,Ind. 18 Cambridge C. to N.Castle,Ind. 14 Indianapolis to E. Bt. Louis . . . 262 Branch_ ................... . ..... · 7 B. 0. s. W. into Cincinnati...... 6 Leased-entire stock ownedOther trackage . . . . . . . . . . . . . . • . . 5 Cincin. Lafayette & Chic. Ry.Total on which earns. are Templeton, Ind., to Kankareported ......... .......• 1 1852 kee_, lli....................... 56 <>peraled; earnings kept separateCairo Vincennes & Chic. Ry.Cairo, m., to Tilton & branch .267 Peoria & East'nRy. (b).Columbus Springfield & Ctn.Bpringfleld_, .o., to Pekin, m.. 343 Columbus, 0., fu Springfield.. 45 Trackage Pe.Kin to Peoria, m.. 9 White Water-Harrison, fnd., to Total Peoria & Eastern. .••. 352 Hagerstown, Ind.............. 62 Kankakee & Seneca RR. (b)Cin. Wabash & Michigan Ry.Kankakee to Seneca, m...... 42 Benton Harb., Mich., to Rush· ville, Ind .........••••.••.... 206 Mt. Gilead Short Line........... 2 Other lines (aJ. • • • • • • • • • • • • • • • • • 94 Dayton & Un. RR. (see that Co.>. 47 (Oper.jointly with C.H. & D.) Leasedr-majority stockown'dTrackage m. Cent. into Chicago. 56 Cincin. Sandusky & Cleve. Ry.(Entire common stock owned.) Sand'sk:y, O:J to Dayt'n, O.etc.170 Grand total incl. trackage Cincinnati & z;pringfl.eld Ryand road oper. jointly .... . 2,351 Ludlow Grove to Dayton, 0 ... 48 Double track . .. . . . • . . . . . . . . •. 44 a No debt, or bonds all owned by Clev. Cin. Chic. & Bt. L. b One-half or more stock owned, or controlled. The company is also one-fourth owner of the Peoria & Pekin Union Ry., one-seventh owner in the Terminal Railroad Association of Bt. Louis and two-fifths owner of the Indiana.polis Union Railway. HISTORY, ETC.-A consolidation of the Cincinnati Indianapolis St Louis & Chicago Railway Company, the Cleveland Columbus Cinclnnati & Indianapolis Railway Company and the Indianapolis & St. Louis Railway Company, made in July, 1889. It is one of the so-called Vanderbilt roads. The St. Louis Alton & Terre Haute main line a.nd branch were purcha"!ed in 1890 for $10,000,000 of 4 per cent bonds. ln 18&39 acquired the entire stock of the Cairo VincenneR & Chicago and in 1890 leased the Peoria & Eastern (which see). In 1890 a.lso practically absorbed the Columbus Springfield & Cincinnati and the Cincinnati Sandusky & Cleveland, &c. Bee '7'. 51, p. 457, 608. CAPITAL 8T0CK.-The consent of a majority interest of the preferred stockholders is required before any new bonds can be issued or Q,D.., lease executed. According to Ohio statutes company has privil.;~c -,r retiring preferred stock at par after June 27, 1892. On Jan. 1, 1890, the common stock was $20,500 000, and it has been increased to pr~ent :figure to acquire stocks of lines absorbed, etc. Total authorize<a by stockholders was $28,700,000 July 1, 1892. DIVIDENDS.-On preferred stock 114 per cent quarterly to date. On common, in 1890, 4 per cent (lier cent being extra. in July), in 1891, 3 p. c.; in 1892, Jan., 112 p. c.; ug., 112; in 1893, Feb., 1¼ p. c. PRICE OF 8T0CK.-Common-In 1889 5812 to 7818; in 1890, 55@8014; b 1891, 5634W7412; in 1892, 57W75; in 1893 to Jan. 20 inclusive, 5734 W59 7 s. . Preferred stock-In 1889, 96 to 10312; in 1890, 86@101; in 1891, 90W98½!; in 1892, 9134 W99 14; in 1893, fo Jan. 20 inclusive, 92W94. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE CLEVELAND, CINCINNATI, CHICAGO & ST. LOUIS RY. RAILROAD STOOKS AND BONDS. JANUARY, 1893 ] ----- - - - -- - - - - - - - -- Subscribers url.ll confer a great Cavor by giving Immediate notice of any error discovered In these Table•. RAILROADS. INTEREST OR DIVIDENDS. Bmuts-PrtnoiMiles Date Size, or .Amount - - - - - - - - - - - - - - - - - pal,Wll.en Due. For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable, and by Stocks-Lal!lt on first page of tables. Road. Bonds Value. · Cent. Payable Whorr... Dividend. Oleveland Oin. Ohic. cf: St. Louis (Ooncluded)- OBLIGATIONS FOR PROPRIETARY LINES. 56 Cincinnati Lafayette & Chicago,lst mort., gold.c Cincinnati Sandusky & Cleveland-Pref. stock. -. 8. Day. &C.(Mad.R.&L.E.) lstM.,s.f.,dr. at 100.c 1 170 Consolidated 1st mortga~e ($3,000~000) gold .. c 170 Cincinnati & Springfleld-.1st mort., mt. guar.. _.c 1 48 48 ig,.1:~a~-~ci.-iusc-.·vai: & ist.ino~ 158 Cleveland Lorain & Wheeling 1st mortgage ..... c H4 Car trusts . . --···--·····-···· ....................... . Oleveland cf: Malwning Val.-lst mort., ext .•.•.. c* 125 3d mortgage (now 2d) ............................ cA 125 Consol. mort. for $3,000,000, gold ................ . 125 Oleveland cf: Mariettar-lst mortgage, gold ....... c&r 97 Oleve. & Pittsb.-Stock, 7 p. c. g11ar. by Penn. Co .... Consol. sink. fund mort. for $5,000,000,not dr'n. c 199 Gen. mortg., gold ~guar. Pa. RR.) series A, ..... c' 199 do do do series B ....... . 199 Constr'n and equip'tinc., Ser. "A," dr'n at 100 c Oolebrookdaler- lst mortgage_._ ..... _...... ........ . .i's Oolorad-0 Midland-See At. Top. & Santa Fe system. Oolumbia cf: Greenville-1st mortgage, gold ....... c* 164 oie:e1. ·,v:: o:i~:~r;j!~'k ·iiaurem~isi:iUor$12:ooo i>.iii.~; Oolumbus ti: Oincinnati Midland-Common stock .. Preferred stock (see remarks) ..................... . 1st mortgage, extended, guaranteed ............. . Debentures, guaranteed .......................... . <Jolumbus Hocking Valley cf: Toledo-Common stock. Preferred 5 per cent stock, non•cumulative...... . Columbus & Hocking Valley 1st mortga~e ..... c" Col. & Toledo 1st M. (Columbus to Walbr1dge) .. c+ 164 63 71 121 118 1871 $1,000 .. .. 50 1866 1,000 1888 1,000 1871 1,000 1872 1,000 1878 1,000 1884 1,000 1'873 .:,oo &c. 1876 500 &c. 1888 1,000&c 1887 1,000 50 1867 1,000 1,000 1891 1,000 1892 1,000 1873 1868 100 &c. 1881 1881 1887 1884 1890 .... .... 1867 1875 1,000 1,000 1,000 $792,000 7 g. M. & 8. N. Y., Drexel, M. & Co. 428,850 6 per an. M. & N. New York and London. 27,000 F. & A. Boston,Nat.RevereBk. 6 2,511,000 5 g. J. & J. N. Y., Drexel, M. & Co. 2,000,000 7 A. & 0. do do 125,000 7 J. & J. do do 700,000 7 A. & 0. N. Y., Un Tr. & Cleve'd 6 150,000 J. & J. do do 150,000 ··,;·g. F ..&.A. N.Y.,winBiOW:Lan.&Co~ 654,000 7 M. & 8. do do 487,900 1,500,000 5 g. See text do do 590,000 6 g. F. & A. N. Y., Cuyler, Morgan. 11,247,314 7 per an. Q.-M. N. Y., Winslow, Lanier. 1,645,000 7 M. & N. do do 3,000,000 412 g. J. & J. do do 326,000 412 g. A. & 0. do do 633,000 7 J. & J. do do 600,000 6 J. & D. Phila., Phil. & R. Office. 2,000,000 6 g. J. & J. N. Y., Cen. Tr., 54 Wall. 6 A. & O. Oct., '92, coup. last pd. 1,000,000 6 g. J. & J. N. Y.; Balt.; Columbia. 707,000 2,000,000 1,000,000 ·:.i:i2 J.'·&-·J. N.Y.,Farmers'L.&T.Co. 1,000 2,000,000 412 J . & J. Balt., B. & 0. RR. Co. 240,000 100 11,696,300 N. Y:,"ccis:office. 100 2,000,000 5 per.an. J ...&.. J. A. & O.N.Y.,AtlanticTrustCo. 7 500 &c. 1,401,000 1 7 F. & A. do do l I 1,000 2,500,000 I Sept. 1, 1901 Nov. 2, 1892 Feb. 1, 1900 Jan. 1, 1928 Apr. 1 , 1901 Jan. 1 , 1902 Oct. 1, 1898 July, 1895 Aug.· 1," .i893 Sept. 15, 1896 Jan. 1, 1938 Aug. 1, 1937 Dec. 1, 1892 Nov. 1, 1900 Jan. 1, 194.i Oct. 1, 1942 Jan. 1, 1913 June 1, 1898 Jan. 1, 1916 Apr. 1, 1923 Jan., 1937 Jan.~·1,-·i939 Jan. 1, 1895 Jan:·3,--i893 Oct. 1, 1897 Aug., 1905 BONDS.-In 1891 $4,000,000 of 4 per cents were issued, secured by-a against $11,840. In 1890-91 gross $362,594, net $90,405. In 1891- 92 mortgage on Cincinnati Wabash & Michigan. (V. 52, p. 718.) I gross $337,077; net, $79,320; interest, $45,606 ; rentals, $5,733 ; There are $88,000 901. Spring. & Cin 7s. s~i!l outstanding,forwhich balance, surplus, $27,981. A. T. Wikoff, President, Cambridi.re, O. $112,5~0 ~f the .Spr1~gfleld ~ Colum~us D1v~s1on 4s are reserved. Cleveland & Plttsburg.-(See Map Pennsyl!vania Ilaitroad.J The Cincmnati fy.dian!)-polis St: Loms & Chicago 4 per cent mortgage Cleveland, o., to Rochester, Pa., 124 miles; branches-Bayard, O., to new for $1~,000,000 will re~~ all pr10r bonds as they fall due. . . . Philadelphia, 31 miles; Yellow Creek to Bellaire, 43 m.; trackage, RochTll--- sink.ng fund x>r0V1B10n of the Cleveland Columbus Cmcmnati & ester to Pittsburg (Pittsburg Fort Wayne & Chicago) 26 miles· tot.al L"'lillanapolis consolidated bonds of 1874 mav: b~ canceled at option ~f operated, 224 miles. The property was leased for 999 'years froih Deholders, llD<l the bonds so stamped. The prmmpal of tilese bonds 1s cember 1 1871 to Pennsylvania Railroad Company and lease transpayable in gold, but the interest is payable at optio~ of ho.l~er eithei: in rerred to 'Penn~ylvania Company May 1, 1872. Rental, 7 per cent on lawful money at rate of 7 per cent per annum or m Br1t1sh sterlmg existing capital (10 per cent on the old) and $10,000 per year for commoney at 6 µ_er cent: . " ,, pany expenses, the lessees assuming all liabilities. Of the Indianapolis & St. Louis first mortgage bonds series A are In 1891 the general mort"'a"'e for $10 000 000 was authorized the J. & J.; series "B," M. & 8.; series "C,': M. & N.; aud the $500,000 six bonds being guaranteed principal and interest· (endorsed) by the Pennper cents are owned by the Pennsy~varua RR. Co.. sylvania Railroad. There is a sinking fund, but none of this issue can The bonds of 1889.on the Cairo Vmce~nes &.Chicago are ounds of the be called for payment. see v. 53, p. 639,754, and v. 54, p. 206, 1036. Cleveland Cincinnati_Chic_!),go & St. Lom~ Co., but are secured by a mortIn vear 1891 the deficit to lessee was $14,795, against a deficit of gage made by the Cairo Vmc.enn~s ~. Chicago Company: $2,517 in 1890 and of $229,740 in 1889-(V. 52, p.· 80; V. 53, p. 639~ Of the $10,000,000 St. Loms .D1V1S10n bonds 0~ 1890 ~B81?,ed to the St. 754· v. 54 p. 78 202 203 206 1036.) Louis Alton & Terre Haute m payment for its mam line, bonds for ' ' ' ' ' ' $6 700 000 are reserved to retire all existin~ liens on the road, and Oolorado 1'.lld.Jand.-See ATCHISON TOPEKA & SANTA FE SYSTEM. $250,000 bonds are held in a sinking fund for the issue, bonds to be "olurnbla & Greenville (S. c. )-( See Map of Richmond cl Danpurchased at or under 105 with the income therefrom-no bonds drawn. ville.J-The company owns from Columbia to Greenville, 8. C., For full abstract of deed of trust see V. 52, p. 42-45. 143 miles; branches to Abbeville and Anderson, 21 miles; total, GENERAL FINANCES.-On July 1, 1892, there wer~ outstanding $403,- 1~4 mile~. Also ow~s Laurens Railroad, 3~ miles. and leases Blue 425 bills payable and $360,000 equipment bonds. on Dec. 1, 1892, R1dg~ Railroad, 32 miles, and SpartanburgUruon & Col. RR. (which see). $294,000 Cin. & Ind. 7s matured and were replaced by 4s of 1886. 69 nnles. Total operated, 296 miles. LATEST EARNINGS.-From July 1, 1892, to Nov. ::$0, 1892 (5 months), HIS~ORY, s·rocu:, ETC.-Sold in foreclosure April 15, 1880, and regross, $6,695,912, against $6,406,157 in 1891; net, $1,718,712, orgaruze •. Preferred stock, $1 1000,000; common stock, $1,0001 against $1,983,335; interest, rentals, etc .• $1,101,474, against $1,136,- 000; par of shares, $100. Due Rich. & Da~v. June 30, 1891, $4;92,604. 700; surplus, $617,238, against $846,635. For same period Peoria & All the common stock i.s pledfl"'ed by the Richmond & We~t Pomt TerEastem had net $179 181 against $233 010. • minal Comnany, under its c~ ateral trust of ~887, and m May, 1886, ' . ' ' . . the road was leased to the Richmond & Danville RR. Co., which see. ANNUAL REPORT.-F1~cal year ends June 30,- Annual meeti~g 1s Interest due Oct. 1, 1892, on the 2d mortgage was paid in January, 1893. held on last Wedn~sday m October. See _report for 1891-92 publlshed EARNINGS.-From July 1 to Sept. 30, 1891 (3 months), 1?1.'0SS $172,a.t much length with balance sheet, &c., m V. 55, p. 571, 589. 549, against $l98,463 in 1890; net, $30,047, against $44,'996. 1889-90. 1890-91. 1891-92. ln year endinp,- June 30, 1892, gross earnings, $750 709; net, $153 Miles operated.................. 1,588 1,588 1,588 163; interest, $180,000; rentals, $77,987; balanceJ.. deficit, $104,82~. Passengers earnings . . .......... $3,422,872 $3,649,505 $3,824,201 In 1890-91 gross $875,484; net, $223,984 (V. 53, p. ts44; v. 55, p. 371.) FreJght .... .... ....... ... •.... . .. 8,598,838 8,608, 21 9 9,129, 417 Colurnbia Newberry & Laurens.-OwnsfromColumbia, 8. C.r Mail and express .............. ·· 617,435 630,89 2 63l,768 to Dover Junction, near Clinton, 8. C., 63 miles. Lease to the receiver . ---- - - - of the South Carolina Railway having terminated, road is now opera.tied To~ earrungs. · • • • • • • · · · · .$12,639,145 $12,8~8,6l6 $13,585,386 by the Atlantic Coast Line. Rental, $3,993 monthly. Stock authorOperating expenses and taxes .. 8,739,182 9,193,992 _::838,542 ized. $2,000,000; outstanding, $500,000; par, $25. Net earnings $3 899 963 $3,694,623 $3,746,844 <Jolurnbus & Cincinnati .illid.land.-Owns Columbus, 0., to Rentals ······ ······· ··· '265'513 24.5,823 232,730 Midland City, 0., 71 miles. Opened in November, 1884. .A.ft'ords the Interest.&c··--·········· ··· ···· 57°649 82,938 11,342 Baltimore & Ohio a direct route between PittRburg and Cincinnati. ' · · · · ··· · · ·· · ·· · · ·· · · · ' _____ _____ Stock, common, $2,000,000 ; preferred (non-, ot ng), $1 000,000. In · $4 22 3 125 $4,023,384 16 January, 1890, leased for 999 years to Central 0hio, by which assigned Total netmcome .... ·· ··· ··· • ' $3,99 o, 9 to Baltimore & Ohio. Bee V. 51, p. 718. The Baltimore & Ohio assumes Interest on bonds ...... • •·· · · · .$1,788,257 $2,l23,303 $2, 2 93,642 the Central Ohio'l!I guarantee of principal and interest of the bonds and 5 4 4 6 2 532 Rentals.•••·· -· · · · · · · · · · · · · · · · · · · 936,58 69, 0 76, owns all the common stock. It also assumes the Central Ohio's gua.ranDividends..... ·· ···· ·· ·· ·· ·· ·· ·· 1 ,320,000 1,318,3 22 1,340,000 tee of 3 per cent per annum, payable semi-annually, commencing with Miscellaneous.............. .. ... 14,940 10,792 _ _ _ _ Jan. 1, 1895, on the preferred stock, "unless said stock be redeemed at not less than its par value" at any time after January 1, 1893. Grosa SurplUB...... .....• . . .. . .. . . . $163,344 $101,561 $80,742 earnings m 1891, $343,008; net, $34,202; interest, $100,800; deficit, -(V. 52, p. 428,498, 499, 534, 718. 761; V. 53, p. 288, 500, 519, $66,598, against surplus in 1890 of $1,012. 351,922; v. 54, p. 276,444,525,903; v. 55, p. 374,571, 589, 598.) ColnIDbns Hocking Valley & Toledo.-(See Map.)-OWDB Oleveland Lorain & Wheeling.-Owns from Loratn, 0., to West main line from Pomeroy, 0., to Walbridge, 0., 250 miles, with trackage Wheeling, 0., 158 miles, and branch to Bellaire, 0., 6 miles, (Northwest Ohio) Walbridge to Toledo, 6 miles; branches-Logan to and has trackage into Wheeling . Sold in February, 1883, and Athens, 26 miles; Logan to New Straitsville, 13 miles; Monday Creek reorganized as Cleveland Lorain & Wheeling. STOCK.-Common, $1,000,- Junction to Nelsonville, 17 miles; others, 15 miles; total, 326 miles. · 000, and preferred $4,600,000; par, $100. In June, 1892, a controlling H1STORY, &c.-A consolidation in July, 1881, of the Columbus & interest in the preferred stock was sold to a syndicate composed of H., Hocking Valley, Columbus & Toledo and Ohio & West Virginia. The F. Shoeruaker and his associates. See V. 54, p. 1047. Lake Silore & capital stock of $1,500.000 of the Hocking Coal & RR. Co .. controlling Michigan Southern owns $169,100 common and $774,400 preferred. 10,000 acres of coal lands, was purchased in 1881 for $8,000,000. The EARNINGS.-Jan. 1 to June 30, 1892 (6 months), gross $669,996, company's guaranty of interest on the Toledo & Ohio Central :Lst against $590,344 in 1891; net, $112,161, against $133,521. In mortgage was claimed to be void in September, 1891, by public notice 1891 gross earnings were$1,332,534; net, $323,353; intere t, $58,000.i to the T.& 0. C. See V. 53, p. 436. balance, surplus, $265,354, from which paid nn car tru:1ts $76,000, anu STOCKS.-In Dec., 1891, $2,500,000 pref. 5 per cent stock, non-oum11.• for new equipment and improvements, $38,000. Dividends on prewas authorized, $2,000,000 being sold to old stockholders at f43rred stooK in 1887, 3 per cent; in 1888, 2 per cent; in 1889, 2 per lative, 50, proceeds to pay $777,000 bonds due Ja,nuary 1, 1892, etc. The cent. (V. 52, p. 830; V. 54, p. 923, 1047.) pret'erred stock is redeemable at the option of the company at par at Oleveland & ,'-lahoning Valley.-Owns from Cleveland, O., to any time after three years from its date of issue. See V. 54, p. 446. Sharon, Pa., t!l miles; Nile~1 O., to New Lisbon, 0., and branches, 44 DIVIDENDS.-On common stock since 1881: In 1883, 212 per cent; in miles; total operated, 125 miles. Leased to the New York Penn. & Ohio 1885, l::Ps in stock; none since. Dividends on preferred: In 1892,. till 1982; the rental is $514,180 per year. Of the bonds of 1888 (trus- July, 2½> per cent; in 1893, January, 212. tee of mortgage Central Trust Company) $1,141,000 were reserved to .PRICE UF ( :oMM01'1 STUCK.-In 1885, 18'1v43; in 1886, 267s1i>4512; in retire prior bonds in 1893 and 1896. Coupon interest is J. & J., regis- 1887, 15'a,39¾; in 1888, 17'1v36¾; in 1889, 11'1v28 14; in 1890, 18.lg@ tered mterest, Q.-J. atock is $2,759,200 (par $50), of which $2,758,- 32¾; iu 1891, 22@34¾; in 1892, 27'1v40; in 1893, to Jan. 20, inclusive., 250 is held by the "Atlantic First Leased Lines Rental Trust Co., 2812'1v32 1s. Limited," of• London, and dividends of from 11 to 1218 per cent per BuNDS-Of the consolidated mortgage $6,500,000 was reserved ~ annum are paid quarterly. meet tht prior liens; but in 1892 $777,000 cousols reserved for sam& Oleveland & 1'.larietta.-Owns from Marietta, 0., to Canal amount of per cents due Jan. 1, 1892, were canceled, the 7 per cents. Dover, and branch, 97 miles, and 8 miles, Valley Junction to Cana.J having been rrtired with preferred stock. The " Hocking Coal & RailDover, leased. The road was foreclosed for the second time in May, road" joined in makin!( these bonds. 'fhe Cent1·al Trust Company i& 1886, and reorganized. Stock, $$2,000,000-par $100; car trusts, June trustee. The general mortgage of 1884 for $2,000,000 covers the road, 30, 1892, $180,779. From July 1, 1892, to Aug. 31, 1892 (2 months), and is also a mortgage on the coal property of the "Hocking Co al & gross earnings were $53,480, against $53,765 m 1891; net, $8,788 Railroad Company," whose stock is owned by the C. H. v. & T. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. 48 M AP OF THE ~- COLUMBUS, !I HOCKING VALLEY Ii TOLEDO R'Y https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AND (VOL. L ~- RAlLROAD J ANUARY, 18\t3.j STOCKS AND BONDS. B MAP OF THE COLUMBUSJ SHAWNEE & HOCKING AND SANDUSKY & COLUMBUS SHORT LINE https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILWAYS. B I INVESTORS> SUPPL~;M t1;NT. 8ub ■crlber• (\'or.. LVI. 'Will con.l'er a great Cavor by glvtng lnunedlate notice oC any error disco vered In these Table ■ • R.A.Il.ROADB. Bott.d.a-Prlnol INTEREST FOR DIVIDENDS. Miles Date Size, or Amount pal, When Due-. Par Outstanding Rate Per When Where Payable, and by Stocks-Last of For explanation of column headings, &c., see notes of Cent. Payable Road. Bonds Value. Whom. on first page of tables. Dividend. --- Columbus Hocking Valley~ Toledo-(Ooncluded)- Col. & Tol. 2d mort. (Columbus to Walbridge) .... Ohio & West Va. lstmort. (Lo an to Pomeroy) .. c* Consol mort~age (for $14,50 ,000), ·gold ....... c* Gen. mort.,go d,on road & Hockin~oal& RR.Co.c Oolum. Shaw. & Hock.-Stock ($2, ,000 is pref.) . 1st mo~~e for $5,000,000, §old .............. c* Equipm' ., sub. to call after' 6,($1,000,000) c* Zanesville Term'l Co. 1st m. for $500,000, gol . c* Sandusky & Columbus Short Line-1st M., gold. c* Columbus Soiithe1-n.-lst mtge., $12,500 p.m. gold. Columbus & Xenia-Stock, 825 per cent rental. ..... Concord & Olaremont (N. H.J-lRt mort a1&e ...... c Concord & Mont1·eal-Stock, Class I. (B. . M. pf.) Stock, Class II (B. C. & M. new) ...... . ......... . ... Stock, Class III. (B. C. & M. old stock) ............ Stock, Class IV. (Concord) $6,000,000. See text. Bost. Con. & Mon. cons. mort. ($475,300 are 6s).c Improvement mortgage . ..................... . . c Concord & Montreal consol.mort.for$5,500,000.c* Conn. & Passum.-Pref. stock, 5-6 p. c.ren'l,99yrs.c* 1st mortga~e (White Riv . .Juno. to Canada line) c* Massawipj1 st'k, guar.same div. as Conn. & Pass. Newport Richford 1st mort. r,iar. by C. & P .c* Ooncord & Po1·ts.-Stock, 7 p.c. rn l, 99 yrs. Conc'd . . Connecticut Rive1•-Stock ($2,670,000 authorized) .. Connecting (Phila.J-lst mortgage, endorsed ...... c 3 8" 5 Oornwall & Lebanon.-Stock ..•.. .............. • .... Old bonds unexcbanged . .......... .. .............. New 1st mortgage for $800,000 . .... . ............ r 118 85 325 325 1880 $1,000 1,000 1880 1881 1,000 1884 1,000 110 110 4 110 88 55 71 1890 1891 1890 1891 1889 ...... ........ ....... ..... --- .. 166 166 262 110 37 22 47 80 7 24 24 24 ---- 1:000 1,000 1,000 1,000 1,000 50 .... . 1874 500 &c. 100 ..... 100 ...... 100 . ... . 100 1873 200 &c. 1,000 1881 1,000 1890 ---- 100100 &c. 1873 100 1,000 1881 ..... lOC:> 100 1,000 50 ....... 1882-9 100 &c. 1891 100 &c. ---- ---- is64 Company owns equipment costing over $4,000,000; car trusts are $531,536,due 1892 to 1897, interest 6 and 7 per cent, and car trusts extended $336,027. In November, 1892, $500,000 worth of additional equipment was o,mtracted for on car trmt plan. See V. 55, p. 927. .ANNUAL REPORT,-Fisoal year ends December 31. Annual meeting will hereafter be held the third Tuesday in March. Approximate statement for 1892 was in CHRONICLE, V. 56, p. 80, as follows: 1889. 1890. 1891. 1892 est. Gross earnings ............ $2,496,319 $3,056,752 $3,263,554 $3,340,002 Net earmngs . . .. . ••... $1,007,692 $1,308,200 $1,415,556 $1,418,851 Miscellaneous .... _........ 28 335 32 147 40 371 40 ooo _ _ _,__ ' ' ___ ,_ Total receipts ......... $1,036,027 $1,340,347 $1,455,927 $1,488,851 I t e to bo ds $997 820 $977 420 $977 420 $923 030 ~t!~e!t o~ ca;\rusts:etc~ 12:950 38:205 60:850 55:844 Int. to Pa. RR.on lease,&c. 24,658 24,490 24,525 26,804 Dividend on preferred . .. 5 0,000 Total disbursements . _$1,035,428 $1,040,115 $1,062,795 $1,055,678 Balance ........ •·······•· · sr.$599 sr.$300,232sr.$393,132sr.*$433,173 ~ f this amount $226,186 was spent for additions, improvements, &c., and $195,715 for equipment, leanng a surplus of $11,271. -(V. 53, p. 436, 568, 712,754; V. 54, p. 242, 444, 446, 845, 887; V. 55, p. 589, 927; V. 56, p. 80.) Oo lumbu!il Shawnee & ~ocking.-( See Mav.)-Line of road, Columbus, 0., easterly to Zanesville and southerly to Glouster, Shawnee a,nd Shawnee .Junction, with branches; total, 161 miles, of which 110 miles are owned and 51 miles leased. Will be operated in close connection with tbe Sandusky & Columbus Short Line, completed in 1892 from Columbus, 0., to Sandusky, 0., 110 miles. HISTORY.-Formed in November, 1889, by consolidation of the Columbus &Eastern (foreclosedin1888) and theShawnee&MuskingumRiver Railroad. The Sandusky & Columbus Short Line is controlled in the interest of the Col. Shaw. & Hooking. (54, P· 486.) SToCK.-Authorized, $6,000,000 (half preferred); outstanding, $4,000,000. of which $2,000,000 preferred. BoNDs.-First mortgage (trustee, Metropolitan Trust Company) is for $5,000,000, of which $1,500,000 is reserved for extensions at $30,000 per mile of ro3.9- com:pleted and equipped. The equipment bonds are a first lien on .eqmpment, a second lien on the road, and cover $210,000 of the company's first mortgage 5s, which can only be sold for new equipment made subject to the equipment bonds. EThe Zanesville Terminal Railway is leased for 99 years, and its bonds guar• anteed as to interest. This Terminal Company paid a dividend of 2 per cent in August, 1892. The companies using the Terminal's property pay $2·00 per loaded car. car trusts Sept. 1, 1892, about $700,000, are being retired with equipment bonds. The Sandusky & Columbus Short Line bonds are not guaranteed, but there is a traffic contract with the C. 8. & H. that it is said assures net earnings sufficient to pay the interest on the bonds, the business arising under this contract being reported for 1891 as 661,709 tons coal, yielding $396,162 in earnings. see v. 541 p. 486. Mortgage is for $ 3 ,000 ,000, a t $20 •000 per mile f or cons truct wn an d $5 ' 000 :per m il e for equipment. Metropolitan Trust Co., trustee. The Short Lme Co's. stock is $3,000,000; par, $100. EARNINGS.-From .July 1 to December 31, 1892 (6 months), gross earntngs were $424,297, against $503,565 in 1891. For-! months ending Oct. 31, 1892, net $115,270 against $97,201 in 18'91. In the fl.seal year ending Jun.., 30, 1892, gross earnino-s were $723,647; net, $245,087; rentals, $53,030; interest, $164,95§; balance, surplus, $27,104. In 1890-91 gross, ,£;409,540. (V. 53, p. 604; v. 54, p. 486.) Oolumbus Sonthern.-Completed in 1890 from Columbus, Ga., on Central of Geor~a Railroad, to Albany, Ga., on Savannah Florida & Western, 88 miles. Stock, common, $880,000; preferred, $440,000. Operated by Georgia Midland & Gulf. For year ending .June 30, 1892, gross earnings were $98,638; n et, $17,034. President. W. B. Lowe. Oolumbus Springfield & Oincinnati.-SEE CLEVELAND CIN· INNATI CHICAGO & ST. LOUIS. (lolumbus & Xenia.-Owns from Columbus, Ohio, to Xenia, Ohio, &5 miles. Operated as a division of the Little Miami, and is leased for 99 years from December, 1 869, in connection with that road, to the Pitt& burg Cincinnati Chicago & St. Louis, which pays 8 per cent on stock. The lease is guaranteed by the Pennsylvania Railroad Company. The Columbus & Xenia pays 825 per cent dividend per annum, 21 6 per cent March 10 and September 10 and 2 per cent .June 10 and December 10. Ooncord & Claremont (N. H.).-Ownsfrom Concord to Cla remont, N. H., 56 miles ; branch, Contoocookville to Hillsborough, N. H., 15 miles; leases-Peterboro & Hillsboro Railroad, 18 miles; tota l oper• ated, 89 miles. Controlled by Boston & Maine, which, with the Boston & Lowell, guarantees interest on the bonds under lease of Northern RR. Stock, $412,100. Ooncord & ll.lontreal.-Owns from Nashua, N. H., via Concord, to Woodsville (near Wells River .Junction), 128 miles; woodsville to Groveton .Junction, 53 miles; Wingroad to Mt. Washington, 20 miles; Hookset branch, 3 m_iles; total owned, 204 miles. Leases Concord & Portsmouth RR.,Mancbesterto Portsmouth,N. H., 41 miles, and branch t«- Bunoook., 7 miles; Suncook Valley RR., l 8 miles ; Suncook Valley Ex- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I $600,000 1,584,000 8,000,000 1,618,000 4,000,000 3,499,693 445,000 450.000 2,400,000 1,087,500 1,786,200 500,000 800,000 540,400 459,tiOO 3,000,000 1,717,300 500,000 2,457,000 2,500,000 1,500,000 400,000 350,000 350,000 2,580,000 991,000 800,000 81,900 718,100 . -· 7 M.& 8. 7 M.&N. 5 g. M.& 8. 6 g. .J. & D . --1rg. .J. ..&.. J. 6 g. A. & 0. 5 g . .J. & .J. 5 g. M.&N. 5 g. F & A. See text. Q.-M. J. & .J. 7 See text. M.&N. See text. . ...... See.text. M:·&·N. 6&7 A. & 0. 6 .J. & J. .J. & D. 4 5 per an. F. & A. A. & 0. 7 5 per an. F. & A. .J. & .J. 5 4 per an. J. & .J. See text. Q.-.J. 6 M.15&8. 4 per an. .J. & .J. .J. & J.. 5 A. & 0. 5 N. Y.,Atlantic Trust Co. Sept., 1900 · do do May 1, 1910 do do Sept. 1, 1931: do do .June 1 , 19\i4. . ............. N. Y ., Hatch & Foote. N. Y ., Metropol. Tr. Co. See Hatch & Foote. N. Y., Metropol. Tr. Co. N. Y., Central Trust Co. Columbus, 0., Treasurer Bost., Treasurer's office. Concord, Co.'s office. do do . ............... Concord, Co.'s office. B'ston, Faneuil Hall B'k do do Boston Safe D. & Tr.Co. Boston, S. Dep. & Tr. Co. do do do do do do Bost.&Manchester, N.H Springfield, Mass. Phila., Penn. RR. Office. Co.'s off'., Lebanon, Pa. do do do do i·; .Jan: . .i940 Apr. 1, 191& .July 1, 1940 Nov. 1 , 1941, Feb., 1929 Dec. 10, 1892' .Jan. 1, 1894 Nov. 1 , 1892' Oct. 1, 1892' 1; Nov.· .i89Z Apr. 1, 1893 Jan. 1, 1911 .June 1, 1920 Feb. 1, 1893 Apr. 1, 1893 Feb. 1, 1893: .Jan. 1, 1911 .Jan. 1, 1893 Jan. 1, 1893 1900-'1·'2-'3·'4 (1) .July 1, 1902 Apr. 1, 192]; tension, 4 miles; Pemiaewasset Valley RR., Plymouth to North Woodstock, N. H., 21 miles; Manchester & North Weare RR., 9 miles; Nashua. Acton & Boston RR., Nashua to Concord, 24 miles; total leased, 13t> miles. Operates lines to Belmont, .Jefferson, Alto1,1 Bay, etc., 50 miles;. 1'l interest in Man. & KeenP, 30 miles. Total operated, 425 miles. In addition extensions to Berlin Falls, etc., were completed in 1892. ORGANIZATION.-The Concord and the Boston concord & Montreal railroads were con~olidated in September, 1889, forming this company, but the constituent companies retain a nominal existence to preserve ~he legality of certain leases. Sin~e the consolidati_on extensive1mproveme~ts have been made, costmg $1,356,629 pr10r to July 1 ,. 1892, of which $487,507 charged to expense account. STOCK.-TheBoston Concord & Montreal preferred (Class I) is entitled to 6 per cent yearly; the Boston Concord & Montreal new stock (ClassII., and old stock (Class III, amounting to $459,600) are entitled to not exceeding 6 per cent yearly out of any saving whicb may result from the r efunding of the present funded and floating deut of the Boston Concord & Montreal. The Concord stock (Class IV.) will receive such dividends as may be declared after providing for the dividends on Class I. Class IV. stock for $1,200,000 is to be issued, payments to bemade 20 per cent by Nov. 5, 1892, and 80 -per cent March 25, 1893. Certiflcat6s of stock dated May 1, 1893, and entitled to all subsequent dividends will be issued upo~ payment in full. See V. 55, p. 421. Class IV. is the only class of stock that can be increased, and of this the total amount authorized by Act of Legislature is $6,000,000. DIVIDENDS.-ln 1890, on class I. and class IV., 6 per cent; in 1891, 6; in 1892, 6 p. c. On Class II. Dec., 1891, 2 per ct.; in 1892, Oct., 3 p. ct. BoNos, &c.-The .consolidated mortO'a~e was authorized to fund the floating debt (amounting to $1,592,00u .June 30, 1892), to provide for retirement of prior bonds when due. and for improvements. In year 1891·92 $747,000 consol. 4s were sold. In addition to the consols given above as outstanding there were July 1, 1892, $336,000 pledged as collateral. The Manchester & Lawrence has instituted suit t<> recover $1,000,000 claimed to be due from tl.te Concord Railroad. See referee's report .January, 1893, in V. 56, p. 82. REPORT for 1891-92 was il'l v. 55, p. 678. For fl.seal year ending .June 30, 1892, gross earnings $2,369,499; net, $727,940; taxes , $102,426; rentals, $73,564; interest, $308,898; dividends, $238,808 ;. balance, surplus, $4,244. In 1890-91 gross $2,471,698. (V. 53, p . 602~ 793; V. 54, p. 845; V. 55, p. 373, 421, 6'78 ; V. 56, p. 82.) Ooncord & Portsmouth.-Owns from Portsmouth, N. H., to Manchester, N. H., 4012 miles, and branch to Suncook, 7 miles. Theroad was sold to first mortgage bondholders in 1857, and leased to Concord Railroad in 1862 for 99 years. Lease rental is $25,000 a, year~ which gives 7 per cent a year to present stockholders. Oonnectlcut & Passumpsic.-Ownsfrom White River .Junction Vt., to Canada Line, 110 miles; leases, Massawippi Valley and branch s(Ctoacnadak...,,2~1·3v7esmilsa·mese; di~vitaldenopseraates . dth' e14s7tomilckeosf. tbTeheleMsseaes.sawiThpeplieRssRe;,,_ .. ~ d ., bolds $400,000 Massawippi stock not included in the amount outstanding. From .January 1, 1887, this road was leased to the Boston & Lowell for 99 years on a basis to pay Connecticut & Passumpsio stock 5 per cent per annum for ten years and 6 per cent thereafter. In October, 1887, the Boston & Lowell, carrying this road, was leased to Boston & Maine. Stock authorized, $ 3 ,ooo,OOO; outstanding, as in table. Dividends since 1880-In 1881, 5 per cent; in 1882 and 1883, 6; in 1884, 512; in 1885 and since at rate of 5 yearly. see rental above. Oonnecticut Kiver.-Owns from Springfield, Mass., to Keene, N. H., 75 miles; branches, 5 miles; total, 80 miles. Consolidated with Asbuelot Railroad in February, 1890. In December, 1892, road was to be leased to N. Y. New Haven & Hartford, but Boston & Maine parties by purchase of stock prevented lease being made. v. 55, p. 1110. Dividends since 1876 have been at the rate of 2 per cent quarterly (8 per cent per annum). In .January, 1893, paid 12 per cent extra. Notes payable outstanding .June 30, 1892, $876,200. EARNING ...-From .July 1, 1892, to Se pt. 30, 1892 (3 months), gross,. $332,234, against $308,234; net, $130,324, against $125,295; other income, $19,132, against $11,733; charges, $32,412, a gainst $27,322 ; balance, surplus, $117,044, against $109,706. Jn year ending .June 30, 1892, gross earnings were $1,161,518, against $1,120,645 in 1890-91; net income (applicable to dividends), over rentals, interest, &c., $206,644, against $236,400 in 1890-91. (V. 52, p. 239, 718; V. 53, p. 187,367,674; V. 54, p. 202,287,762,799; V. 55, p. 256,461 , 806, 1035, 1077, 1110; V. 56, p. 82.) Connecting (Philadelphia).-Owns from Mantua .Junction to Frankforcl Junction, Pa., 7 miles; total mileage including 2d, 3d, 4th tracks and sidings, 44 miles. Lea ed to Philadelphia & Trenton for 999 y ears, and with tha t road operated by Pennsylvama Railroad •. Rental $139,993, which pays 6 per cent on $1,278,300 capital stock (par $50)-mostly owned by Pennsylvania Railroad. Cornwall & Lebanon.-Owns from Lebanon, Pa., to Conewa go,. 22 miles; branches, 2 miles . In year ending .June 30, 1891, gross earniJ'.!-g~ were $241,231; surplus over expenses and cllar~e , $36,538,. dividend,$28,000. In ~889·90 ~oss, $234,021. Tbere are car trust 6s,. A. & 0., payable at Pluladelph1a by Penn. Co. for Ins., etc. In 1891 ~he mortgage for $ 800,000 (trustee. C. Henry and W. S. Huber), was. i ssued to take up old bonds and floatmg debt. Coshocton & Southern.-See CLEVELAND CANTON & SOUTHER..'i~ I J.urn.ARY, 1893.] RAILROAD STOCKS AND BONDS. MAP OF THE DELAWARE & HUDSON CANAL COMPANY'S RAILROAD & CANAL SYSTEM. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 49' INVESTORS' SUPPLEMENT. 30 LVoL. LVI. Sub•erlber8 wtll conf'er a great favor by giving Im.mediate notice of any error dt•covered In theae Tablea. Bond&-Prlncl RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or Amount Rate Per When Where Payable, and by pal,When Due. Par Outsta of For explanation of column headings, &c., see notes of Stocks-Lan nding Road. Bonds Value. on :first page of tables. Cent. Payable Whom. Dividend. - - --- ---- - - - 29 57 1884 $500&c. 6 g. M.&N. N. Y., Morton, Bliss. $750,000 1,000 1891 1,000,000 5 g. M.&N. N.Y.,Consol.CoalOfflce. 50 ..... 1,777,850 8 per an. Q.-J. Phila. & Chambersburg. 82 1856 500 &c. A. & 0. 1st and 2d morts., (2d $109,500due April, 1908). 270,500 do 8 do Danbury cl Norwalk-See NEW y ORK NEW H AVEN & HA RTFOR J). (1) 1,000 Dantrilk cl East Tenn.-lst M., $25,000 p. m., gold. .... 1891 5 g. J. & J. New York Agency. Danflille cl Western-Bee RICHMOND & DANVILLE ... 50 2,403,243 3lgp. an. A. & 0. Cincinnati. Dayton cl Mich.-Com. stock (312 p.c.J.uar. C.H.&D.) .... 50 1871 1,211,250 8 per an. Q.-J. do Preferred stock (8~r cent ~ar. . H. & D.) . .... 1,000 J. & J . N. Y., Kessler & Co.; Cin. 2,675,000 5 c'l & in rest by C. H. & D.c i¥2 1881 1st mort., guar. 1864 53,UOO M. & 8. do do Toledo Depot, 2 mortgage ......•..•.•........... c 7 32 1879 i,ooo 225,000 J. & D. N. Y., Am. Exch.Nat.Bk. 7 Dayton cl Union-lstmort., sink. fund (notdrawn)c 1,000 32 1879 90,000 J. & D. 6 Income mortgage bonds, sinking fund ........... r 1,000 37 1864 6&7 J & J. N. Y., Bank of America. 495,000 Dayton cl Western-1st M., Wiar. L. M. and C. & X.~ (1) 1,000 6 g. J. & J. 1889 Dec.Ohesap. cl New Orl.-ls M., $20,000 p. m.,ic 25 2,157,832 6 per an. J. & J. Delaware-Btock-6 p. c. guar. till 1898, P.W.& .... ioo Dover Co.'s Office. 85 i875 500 &c. 573,500 J. & J. Phil., Fid. I.T. &S.D.Co. 6 Mortg!fe bonds, convertible, §gar., P. W. & B.c* 1,000 41g g. J. & J. 500,000 Gener mortgage for $2,000, 00, ~old ......... c* 117 1892 Philadelphia. 100 1,800,000 8per a n. Q.-F. Phila., 240 So. Third St. Del. cl Bound Br.-Stock-8 p. c. gu. Phila. & Read. 1,000 F. & A. Phila.,Guar.T.&S.D.Co. 1st mortgage ....................................... ·21 is15 1,500,000 7 1,000 4 1879 M.&N. Phila., Of 240 So.3d St. 6 1st mort. on Trenton Br., 2d mort. on main line . 300,000 100 30,000,000 7 per an. Q-Mch. N.Y.Of.,2 1CortlandtSt. Delaware cl Hudson Oanal-Stock . . .. . ............. . .... 1,000 4,829,000 A. & 0. do 7 do Debentures secured by Penn. Division bonds ... c* .... i874 1877 1,000&c 5,000,000 do 1st mort. on Pennsylvania Div. ($10,000,000)c&r M. & 8. 7 do "i",i &c. 100 1874 8. & guar. M. interest do 500,000 lstmortgar, Duan. & do 6 Schenectady 1,000 4 g. J. & J. 300,000 do do Bluff Point Land Improve. Co. ls M.,gold,guar.c* .... 1890 50 26,200,000 7 per an. Q.-J. N. Y., 26 Exchange Pl Delaware Lackawanna d: Western-Stock ........•. . .... 3,067,000 do do M. & 8. 7 Consol mort. on roads & equipm' nt ($10,000,000) 288 i877 Cresson cl Olea1'{;. Oo. cl N. Y. Klwrt Route-1st M., g . Oumberland cl en~lvan~ 1st mort. gold, guar . Cumberland Valley- tock ($484,900 is preferred) . .... /i 0 May 1, 19M May 1, 1921 Jan. 1, 1893 Apr. 1, 1904-& July 1, 1921 Oct. 1, 1892 Jan. 2, 1893 Jan. 1, 1911 Mch. 1, 1894. Dec. 1, 1909' After 1916 Jan. 1, 1905' July 1, 1921 Jan., 1893 July 1, 1895· July 1, 1932 Feb. 17, 189& Aug. 1, 1905 Nov. 1, 1899 Dec. 15, 1892'. Oct. 1, 189, Sept. 1, 1917 Sept. 1, 1924 Jan. 1, 1940 Jan. 20, 1893: Sept. 1, 190'1 Oresaon & Clearfl.eld County & New- York Short Route.-, Owns from Cresson, Pa., to Irvona, Pa., 27 miles, and branch to Richland Mines, 2 miles. Leased for 99 years from Jan. 2, 1893, to the Pennsylvania RR. Co., which has purchased a. majority of the stock. The road will be operated at cost. Stock, $1,000,000; par, $50. Car ti·usts due Feb. 1, 1900, $90,000. In 1890-91 gross earnings were $119,684; net, $59,427; surplus above interest, $14,427; paid to sink. fund $10000 v 55 p 1078 · ' · · · ' ' Cumberland & Pennsylvanla.-Owns from Cumberland Md.' to Piedmont, Md., and several branches, 57 miles. It is owned and operated by Consolidation Coal Company, which guarantees by endorsement the new :first mortgage bonds. See V 52, p. 390. Stock, $1,500,000; par, $100. (V. 52, p. 390.) Cumberland Valley .-Owns from Harrisburg, Pa., to Potomac River Md., 82 miles (and with leased lines operates to Winchester, a total distance of 116 miles). It leases-Cumberland Valley & Martinsburg Railroad, 34 miles; Dillsburg & Mechanicsburg Railroad, 9 miles; Southern Pennsylvania Railroad, 21 miles; controls Mont Alto Railroad, 18 miles, but accounts are kept separate; total operated, 165 miles. BTOCK.-The stock is $1,292,950 common, $241,900 :first preferred and $243,000 second preferred, $975,800 common and $237,200 preferred being owned by P enn1:1 ylv aniaRailroad Company. Large advances have been made to branch roads. The Southern Pennsylvania is leased for net earnings; no interest paid on bonds since March, 1875. DIVIDENDS.-In 1880 to 1884, 10 per cent yearly; from 1885, to January 1893 both inclusive at rate of 8 per cent yearly. ' ' ' EARNnws.-From January 1 to Sept. 30, 189_2 (9 months).t gross earnings were $700,596, against $729,354 in 1891, net, $210,t>70, against property wa.s leased for 990 years to the Phila-delphia & Read.inK Railroad Company-the lessee paying interest and 8 per cent on stock alter May, 1883. Rental in 1891, $275,000. Gross earnings in 1891, $1,025. ' 021; net, $520,648. $i1/i~~r•gross earnings on the main line were $863,298; net, $189,108; $219 989 in 1890 .urplus over fixed charges, $155 ' 553 ' a.,.ainst 0 ' Danbury & Norw-alk.-SEE NEW YORK NEW HAVEN & H ART· , FORD. Dayton & 1'.llchl_g_an.-Owns :payton, 0 ., to Toledo, 0., 1~1 miles, and leases Deshler to .l:''ln~ay, 11 nnles. Leased May 1, 1863, m perpetuity to Cincinnati Hannlton & Dayton. Lease amended January 23, 1870. The rental is the interest and sinking fund of debt, ands per cent on preferred stock and 312 per cent on $2,396,750 common. Guaranty of 8 per cent on preferred is secured by mortgage. Profit to lessee in 1885-6, $215,219; in 1886-7, $276,562; in 1887-8, $363,933; In 1888-9 $348,068; in 1889-90, $379,494. Gross earnings in year 1891 (incfudin.,. Troy & Piqua branch, 8 miles), $1,776,380; net, $710,611; surpfus over interest and dividends, $392,365. Current Ilabllities July 1, 1891, $833,721. Dayton & Unlon.-Owns from Dodson, 0., to Union City, Ind.. 32 miles· leases Dayton to Dodsdon, 15 miles; total operated, 47 miles, Operated by Cleveland Cincinnati Chicago & st. Louis which,.1ointly With the Cincinnati Hamilton & Dayton owns the capltal stock. All surplus earnings over interest goes to a sinking fund for tlte redemption of bonds at not above 100. Ca!tal stock $86,300. In year ending June 30, 1892, gross earnings, 149,994; net, $73,833; surplus over comes, $39,233; incomes redeemed, ohar~s, including interest on ;1}IVIDENDS ~ince 1880: In 1881, 4~; in 1882,:; in 1883, 7; in 1884, 7, in 1885, 6, in 1886 and 1887, 5, in 1888, 6, in 1889, 1890, 1891 and 1892, 7 per c,ent. PRICE OF 8TOCK.-In 1883, 102lg@l121s; in 1884, 6711>114; in 1886, 66lg1i>l0012; in 1886 87141i>l08lg; in 1887, 96lg11>106lg; in 1888, 103@ 134; in 1889, 13011>156; in 1890, 1201i>l75; in 1891, 11814 -W141lg; in 1592 1227s1l>14912· in 1893 to Jan. 20 inclusive 1311211>13614 · ' ' ' ' ' BONDS.-On J~nuary 1, 18~2, there were loans payable amounting to $1,200,000. Adirondack Railroad bonds carry the endorsed guarantee o! the D. & H. as to principal and interest. See that company. The Pennsylvania Division bonds cover coal lands, collieries, railroads, canal, equipment and all other property in Pennsylvania. ANNUAL REPORT.-Fiscal year ends Dec. 31. Annual meeting is held on the second Tuesday in May. Report for 1891 was in CHBONICLE. · V. 54, p. 364. 1891. 1890. · 1889. 1888. . $ $ $ $ Receipts8,335,010, From coal. ..•••...... 10,622,067 8,652,318 7,800,207 From railroads....... 9,554,221 9,482,975 10,670,732 10,062,824 711,869 911,968 822,300 552,892 From miscellaneous.. $~~Y~~n & Western.-Owns from Dayton 0., to State line, Ind., 37 miles, and leases 4 miles to Richmond, Ind. Leased from January 1, 1865, for 99 years, renewable forever, to Little Miami, and carried with that road in the general lease to the Pittsburg Cincinnati Chicago & St. Louis. The lessees, Little Miami and Pittsburg Cincinnati Chicago & St. Louis, are virtual owners and are answerable for all obligations. Of above bonds $32,000 are 7s. Decatur Cheaapeake & New- Orleans.-Projected from Decatur, Ala., to Gallatin or Na-shville, Tenn., of which 34 miles from Alabama State line northward are completed. In December, 1890, receiver was appointed, and road was sold in foreclosure Jan. 2, 1893, to Reorganization Committee. V. 56, p. 42. Claims against the property ag~egate, it is said, $710,000, and a proposed compromise with creditors IS reported, to provide 1or a first mortgage for $300,000 to complete and equip road from Shelbyville to Decatur, and for second mortgage bonds to take up present indebtedness. Stock authorized, $20,000 per mile. (V. 52, p. 80; V. 53, p. 58; V. 56, p. 42.) Delaw-are.-Ownsfrom Delaware Junction(PhiladelphiaWilmington &Baltimore), Del., to Delmar (Maryland line), 84 miles; branches, 33 miles; total operated, 117 miles. Opened 1855-60, and leased for 21 years from 1876tothe Philadelphia Wilmington & Baltimore Company, which owns $1,181,325 of the stock. Rental, 30 per cent of gross earnings, but stock must have 6 per cent; then any residue goes to lessee for advances (if any), and the balance to lessee and lessor equally. In 1891 the New Castle branches and cut-off were purchased from the lessee for $416,675 stock and a bond for $500,000. The new mortgage for $2,000,COO was authorized to take up present indebtedness, for laying second track, &c. In year ending Oct. 31, 1892, gross earnings were $1,152,650; net,. $309,457; interest, dividends, etc., $203,967; surplus, $105,490, agamst $208,804. Delaware & Bound Brook.-Owns from Bound Brook (Central of New Jersey) to Delaware River, 27 miles; branch to Trenton, etc., 7 miles. In connection with Central of New Jersey and North Pennsylvania forms a line betweenNewYork andPhiladelphia. In May, 1879, th~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Dela-ware& Hudson-(SeeMap.J-OwnscanalfromRondout,N.Y.~ to Honesdale,Pa.1 108 miles; completed in 1828. Also owns the followlngrailroads,viz .. Lackawanna&Susquehanna-Nineveh,N.Y.,teJeffersonJunction,Pa.,22miles; ValleyRR.-CarbondaletoScranton,Pa., 17 miles; Gravity RR. (4 feet 3 inchgauge)-Olyphant to Honesdale, 56 miles· Schenectady & Mecha.nicville-East Glenville to Coons, N. Y., 10 miles; Cherry Valley Sharon & Albany-Cobbleskill to Cherry Valley, N. Y., 21 mµes; Schenectady & Duanesburg-Schenectady to Duanesburg, 14miles; total owned, 140 miles. Leaaes: Albany & Susquehanna-Albany to Binghamton, 142 miles• New York & Canada-Whitehall, N. Y., to Rouse's Point, N. Y., 113: miles, and branche~ 37 miles; Rensselaer & Saratoga and leased 1.hlesAlbany, N. Y. to Lake Champlain, N. Y., and branches 192 miles~ Utica Clinton & Binghamton and Rome & Clinton, sublet to New York Ontario & Western, 44 miles; Union Railroad-Green Ridge to Wilkesbarre, Pa., 20 miles; other lines1 4 miles, and Jefferson Railroad (trackage)-Jefferson Junction to Caroondale, 35 miles. Total controlled, 727 miles, but only 686 operated in Delaware & Hudson system. H1sTORYi. ETc.-This company was chartered April 7, 1823. It is among the argest miners and carriers of anthracite coal. In May, 1892 certam officers of the N. Y. Central entered ~he directory. See V. 54: p. 799. In June, 1889, the +\,.dirondack Railroad (60 miles) was purchased. Of the Rutland Railroad stock Delaware & Hudson owns $3 . 000,000 preferred and$1,000,000 common, but the road is leased to the Central RR. of Vermont. Total. ..•••..•..••• 20,729,180 18,957,593 19,382,907 19,109,203Operating expenses .. 14,044,710 12,992,868 13,303,234 13,511,776 ·1 Net ...•••..••.•..•. 6,684,470 35,946246,782295 36,057191,363733 5,597,-i27 3,393,377 , , ' ' Int., taxes & rentals.. 3 , 340, 336 Balance for stock, 3,344,134 2,537,896 2,568,340 2,204,050· (V. 52, p. 202 , 319 , 761 ., v. 54, p. 345 , 36 ,., 486, 560, 643, 799.) Dela-ware Lackawanna & Western.-(See Map).-This com· pany operates under lease an extended system of roads in New York •· Pennsylvania and New Jersey. Owns from Delaware River (N. J. line) to New York State line, 115 miles; branches-Scranton to Northumberland, 80 miles; branches to Winton, Storrs, Keyser Valley, etc.t..!'a.., 17 miles; leased lines in New York-New York Lackawanna & western. Railroad, 214 miles; Cayuga & Susquehanna Railroad 34 miles; GreeneRailroad, 8 miles; Oswego & Syracuse Railroad, 35 miles; Utica Chenango & Susquehanna Valley Railroad, 97 miles; Valley Railroad, 12. miles; controls and operates-Syracuse Binghamton & New York, 81 miles; leased lines in New Jersey-Chester Rallroad, IO miles; Morns&· Essex, 120 miles; Newark & Bloomfield, 4 miles; Warren Railroad 18' miles; Sussex, 30 miles; Passaic & Delaware and extension, 22 iiilles; total operated, 900 miles. HISTORY, ETc.-This is one of the most important of the anthracite coal roads. It was originally the Ligetts Gap Railroad, oha.rtered in 1849; name cha.nged to Lackawanna & Western in 1851, and then to. present title in 1853. Its leased lines are mostly held under longleases, and in several cases are also controlled by ownership of stock, so that the system is compact. The more important of the leased lines are separately described in this SUPPLEMENT. In February, 1892, a considerable interest in the company having. been acquired by parties connected with the Philadelphia & Readi.Qg, Mr. Maxwell, Vice-President of the Reading and President of the Central RR. of New Jersey, was elected to the Vice-Presidency. The result ot the alliance so effected, it is hoped, will be the maintenance of ~ates in the coal trade, and consequently increased profits to the coal oompanies. (See Philadelphia. & Reading and V. 54, p. 366:) The ltonds. due June 1, 1sg2, were paid in cash. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE DELAWARE, LACKAWANNA ~ WESTERN R.R. AND ITS CONNECTIONS. INVESTORS' ~UPPLEMENT. rv.oL, LVL Subscribers -will conCer a great f'avor by giving bnm.edlate notice of' any error discovered rn tliese Tables. Bonds-Prinot► INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or Amount Rate Per When Where Payable, and by p~~~fa!:· Par Outstanding of F or explanation of column headings, &c., see notes of Road. Bonds Value. Cent. Payable Whom. on first page of tables. Dividend. --- ·« D elaware Malland & Virginia-Stock .............. Junction & reakwater-lst mortgage to State . . 44 Junction & Breakwater 2d mortgage . ........... c* 19 Breakwater & Frankford 1st mortgage to State.. Worcester RR. 1st. M. (s.f. not in operat'n) gold.c* 35 Dtn1Jer & Rio Grande-Stock, com., ($45,500,000) . Pref. stock, 5 per cent non•cum. ($28,000,000) . .. ...... 1st mortgage, gold, sinking fund . ............ c*&r 295 Consol. mortgage (for $42,000,000) gold ..... c*&r 1,610 I.ml}rovement Mort. ($5,000 per mile) gold ... c*&r 1,610 Des oines & Ft. Dodge-1st M., Series A, int. guar .. 88 1st mort., Series B, income, interest guaranteed .. 88 Mort#?ai:l'e on extension, interest guaranteed . .... 56 Des Moines & Kansas City-Stock ................... 112 1st M. funding and imp. ($2,000,000), gold. . c*&r 112 Des Moines No. & West.-lstM., g., ($18,500 f.'m.)c. 150 Des Moines Union-1st M. for $800,000, gol .... . c* 3 Detrm,t Bay City & .A.lp.-lst mortgage, gold ...... c* 233 Detroit Grand Haven & Mil.-lst equip. m. 1.' gu .. c* 189 Consol. mort. gold,£ar. by Gr. Trunk o Can.c* 189 Detroit Hillsdale & S. .-St'k,4 p. c. rent'l,L.S.&MS. 65 Detroit Lansing & Northern-Stock, common ....... -··· Preferred stock . ................. ______ ...... ______ Ionia & Lansing 1st M.,extended in 1889,guar.c* ·55 D. L. & N. consol. mort. (1st mort.on 167 m.) ... c* 222 Saginaw & West. 1st M., ,,.old, guar.,endorsed .. c* 43 Gr. R. L. & D. lst M., ($20,000p. m.) endorsed . . c .. 55 $25 $526,758 185,000 3 J. ··&-·J. Phila.,233°80:Fourth St. --·· 1879 1,000 250,000 F. & A. do 4 do 1873 200,000 J. & J. do 3 do 1876 500.&c. 400,000 4 g. A. & 0. do do 100 38,000,000 ...... ..... 100 23,650,000 See text. Office, 47 Wm. St., N. Y. is1i 500 &c. 6,382,500 7 g. M:·&·-N. N. Y., Fourth Nat. Bank. 1886 500 &c. 28,435,000 4 g. J. & J. do do 500 8,050,000 1888 5 g. J. & D. do do 1,000 1874 1,200,000 4 J. & J. N.Y.,Chic.R.I.&Pac.Co. 1874 1,000 1 ,200,000 do do 212 J. & J. 1,000 1881 672,000 4 J. & J. do do 100 800,000 1892 1,000 (1) 5 g. J."·& ·J. Springfield. 1,000 1892 2,390,000 4 to 5 g. J. & J. N. Y., Metropol. Tr. Co. 1,000 1887 811,000 5 g. M.&N. N. Y., Central Trust. 1,000 1883 2,500,000 6 g. J. & J. N. Y., Farm. L. &Tr. Co. 1,000 1878 2,000,000 6 g. A. & 0. { N.Y. cyBk. Com.,! 1878 200 &c. 3,200,000 6 g. A. & 0. Cana a & London. 100 ..... 1,350,000 4 per an. J. & J. N. Y., Farm. L. &Tr. Co. 100 ...... 1,825,600 F. & A. Boston. 100 2,510,000 ....... F. & A. Boston, Of., 50 State St. 1,000 1869 770,000 J. & J. Boston, 2d Nat. Bank. 5 1877 500 &c. 2,672,000 J. & J. do do 7 1,000 1883 566,000 6 g. J. & J. do do 1,000 1887 1,108,000 M.& s. do do 5 is6o ---- ---· ---- ------ .Af ---· i·; Jan:. .i93Z Feb., 1899 Jan. 1, 1932' April1 1896 Feb: ·20: ·i893: Nov. 1, 1900 Jan. 1, 1936 June 1, 1928 Jan. 1, 1965 June 1, 1905 June 1, 1905 Jan:. i,· .i932 Jan. 1, 1932 Nov. 1, 1917 Jan. 1 1913 Nov. 14, 1918 Nov.15,1918 Jan. 5, 189 Feb. 15, 1887 Feb. 15, 1888· July 1, 1899 Jan. 1, 1907 July 1, . 1913 Sept. 1, 1927 DIVIDENDS.-Formerly paid 10 per cent, but in the dull times 1876 to ! 1888. 1889. 1890-91. 1891·92. 1880 no dividends were paid; in 1880 3 per cent was paid; in 1881, 6 34; Gross earnings ........ $7,668,654 $8,046,603 $8,850,921 $8,830,94'?' bl 1882, 1883 and 1884, 8; in 1885, 734; from 1886 to January, 1893, Net earnings . ....•.... $2,563,972 $3,332,410 $3,340,617 $3,709,35~ both Inclusive, at rate of 7 per cent per annum. Interest on bonds .. _.. $1,492,615 $1,654,675 · $1,944,805 $1,986,675· PRICE OF STOCK.-In 1884, 86341ol3318; in 1885, 825s1o295g; in 1886, Taxes and insurance.. 345,550 320,068 319,192 362,127· 115@144; in 1887, 11318@13919; in 1888, 12319'@14518; in 1889, 13458 Betterments........... 240,906 240,000 259,816 240,000, @151; in 1890, 12338@14919; in 1891, 1303a1ol455s; in 1892, 13818@ Miscellaneous......... 40,551 52,434 118,821 206,439' 16712; in 1893 to Jan. 20, inclusive, 148341i>l5519. Dividend on pf. stock. 295,625 t. ..... .. 591,250 Nil. EARNINGS.-For9 months to Sept. 30, 1892, leased lines in N.Y. State ---had surplus over charges of $1,032,780, against $921,890 in 1891. Total. ......•...... $2,415,247 $2,267,177 $3,233,884 $2,795,241 ANNUAL REPORT.-Fiscal year ends Dec. 31. Annual meeting is held Surplus .........•...•.. $148,725 1$1,065,233 $106,733 $914,113: on the Tuesday precedin~the last Friday in February. The report for t From the surplus of 1889114 p. c. was paid on pref. in Feb., 1890. 20 4 l89l was in CHRONICLE,188~ , p. 1°889 1890 1891 -(V. 53, p. 108,125,423, 435, 43'2'. 474, 604 673,674; V. 54, p. 446, Total grosf.l reeeipts.$43,232;422 $38,247:622 $40,688:4345 $41,849:754 701 ; V. 55 , p. 233 , 254, 441 , 4 60, 4 6 4 , 6 79 ; V. 56 , p. 4 2 -> Operating expenses. 33,546,135 30,653,586 32,4::Jl:J,859 33,894,519 Denver Texas & Fort W orth.-SEE UNION PAC. DENVER & GULF. Betterments, &c..... 967,605 223,577 240,019 121,474 Des Moines & Fort Doda;e.-Owns from Des Moines to Fort - - - - - - - - - - - - - - - - - - Dodge, Ia., 87 miles, with an extension 56 miles to Ruthven,connecting Total expenses ... $34,513,740 $30,877,163 $32,739,878 $34,016,065 with Chicago Milwaukee & St. Paul. Common stock, $4,283,100; pre• Net receiptf.l. ...... . . 8,718.682 7.370.4fi9 7,948,767 7 .833.fl 89 ferred, $763,500; ~ar, $100. Leased from Jan. 1, 1887, to the ChicagoInterest and rentals. 5 218 419 5 222 375 5 328,494 5 418 226 Roe~ Island_ & Pacific for 19 years at a reJ?,tal of 30 per cent of the grosa. ' ' ' ' ' ' ' earnmgs, Wlth a guarantee of 4 per cent mterest on the fl.rat mortgageBalance, surplus .... $3,500,263 $2,148,084 $2,620,273 $2,415,463 and extension bonds, and 212 per cent per annum on the incomes. Dividends (7 p. c) . .. 1,834,000 1,834,000 1,834,000 1,834,000 Des Moines & Kansas Clty.-Des Moines, Ia., to Cainsville, Mo. , 112 miles, 3·foot gauge. Successor to Des Moines Osceola & Southern. Balance after divs ... $1,666,263 $314,084 $786,273 $581,463 sold in foreclosure m 1887. Under the mortgage for $2,000 000-(V. 53, p. 714; V. 54, p. 202,288,366,800; V. 55, p. 257, 806.) (Massachusetts Safe Deposit Co., trustee), $480,00<Tbonds are pledged!BE>taware Maryland & Vlrglnla,-Road extends from Harrtng· as collateral for notes given for new equipments, repairs, eto. Under· :.on to Rehoboth, Del., 44 miles; Georgetown to Franklin City, va., 5~ this mortgage the- authorized issue is $8,000 per mile on narrow gau~e, miles; total, 98 miles. In July, 1885, the company passed into control $16,000 per mile on broad gauge road. V. 55, p. 297. In year ending:,f the Philadelphia Wilmington & Baltimore Railroad, and became part June 30, 1892, gross earnings were $118,357; net, $3,232. Tlle capital! of the Pennsylvania Railroad system. In 1891 the mortgages to the stock is held by the President, M. V. B. Edgerly, of Springfield. Mass.,. State were extended at 3 per cent for 40 years, but redeemable at com· as Trustee. (V. 55, p: 297.) pany's option after January 1, 1895. See V. 50, p. 498. In 1891·92 Des 1'Iolnes Northern & Western.--Owns from Des Moines togross earns., $215,931; net, $20,471; deficit, $15,978.-(V. 52, p. 498.) Fonda, lowa, 115 miles, and from Clive (7 miles from Des Moines) t@Denver & Kio Grande.-( See Map)-Owns from Denver C1ty, Boone, 35 miles; total, 150 miles. A consolidation of January 1, 1892, Col., via Pueblo, Salida, Gunnison, Montrose and Grand Junction, to of the Des Moines & Northern and the Des Moines & Northwestern. the western boundary of Colorado, where it connects with the Rio The whole line has been made standard gauge. The bonds bear 4 Grande Western to Salt Lake City and Ogden. Branches run to Lead• per cent interest till January 1, 1897; thereafter 5 per cent. Mortgage ville, Dillon, Rifle Creek, Crested Butte, Silver Cliff, Chaffee, Aspen, trustee is the Metropolitan Trust Company of New York. Stook Ouray and Hot Springs; also from Pueblo to Silverton, via cuchara, authorized, $15,000,000; outstanding, $4,200,000; par, $100. From Alamosa and Durango, with branches to El Trinidad, Espanola, Del January 1 to Nov. 30, 1892 (11 months), gross earnings were $377,378,.. Norte and Wagon Wheel Gap, eto. ; total June 30, 1892 (including against $306,669 in 1891; net, $173,203, agst. $108,136. President, Rio Grande Junction, etc., 72 miles, leased), 1,687 miles. The stan· F. M. Hubbell, Des Moines, Ia. (V. 53, p. 256.) dard gauge and road with third rail embraces a considerable part of the Des Moines Unlon.-A terminal road, 27to miles in length, In. mileage. There is a through standard gauge route between Denver and Des Moines. Controlled by Des Moines Northern & Western-which see. Ogden over this road, the Rio Grande Junction (which see) and the The rentals and wheelage are in excessof fixed charges. Stock authorRio Grande Western. The Rio Grande Southern road was completed in ized, $2,000,000; outstanding, $400,uOO-par $100. Due on real estate· January, 1892. See V. 53, p. 674. Sept., 1892, $56,775. HISTORY.-The .rormer Denver & Rio Grande Railway, incorpora ted Detroit Bay City & Alpena.-Owns from Alger, on Michigan, . 1n 1870, was foreclosed July 12. 1886, and reorganized as the Denver Central Railroad, to Alpena, 105 miles; Loon Lake Branch 26 miles;: & Rio Grande Railroad. The Rio Grande Junction is leased jointly by Mud Lake Branch, 18 miles; other branches, 60 miles; tot;;-f road, 209· this company and the Colorado Midland, and its bonds guaranteed. miles. Has a traffic contract with Michigan Central. Stock authorized DIVIDENDS.-On preferred stock: In 1887, 219 per et.; in 1888, 2½ per ls $2,000,000; issued, $1,670,000; p a r, $100. A dividend of 4 per cent cent in cash and 114 in scrip, subsequently redeemed in cash; ,1 1889, was paid January 3, 1888, and of 212 per cent February 10, 1891; in nil; February, 1890, 114; August, l -2; in 1891, February, 219 p. c.; 1892 nil. Unfunded debt Jan. 1 , 1892, was $174,034. Jan. , 1893,. then none till 1893, when in F ebrua ry 1 p. c. was p aid. see v. 55, p. 805 . coupons were p a id a s usual, though defanlt had been expected. See1 to Nov. 30 (11 months), in 1892 gross earnings were PRICE OF STOCK.-Common: In 1886, 1434·, 35¾ (assessment paid); in 1887, 2012'@32¾; in 1888, 15@23; in 1889, 14341i>l819; in 1890, 14121i) ~324,891, against $395,544 in :;_ 0 91; net, $105,038, against $142,149 •. 21 7a; in 1891, 1314@21; in 1892, 15a>l912; in 1893 to J a n. 20 inclusive, In 1890 gross earrungs, $523,037; net, $217,394; interest, $150,000; 1634@1814. dividend (212 per cent), $41,750; surplus, $25,644. In 1891 gross, Price of preferred stock: In 1886, 5334637a; in 1887, 527a1o683a In $417,674; net, $132,819; interest on bonds, $150,000; deficit, $17,180. 1888, 40@5534; in 1889, 42141i>52 7a; in 1890, 451i)6119: in 1891, (V 50 174 735 V 51 113 V 52 300 V 55 995) 40@63 7 e; in 1892, 451o5434; in 1893 to Jan. 20 inclusive, 5218@56 34. · 'p. ' ; · 'p. ; · 'p. "" ; · 'p. · Detroit Grand Haven & Itlllwankee.-Owns from Detroit,,. BoNDs.-Of the consolidated gold bonds (United States Trust Com• Mich., to Grand Haven, Mich., 189 miles. This is a reorganization of the :pany, trni-tee) $6,382,500were reserved to retire the prior bonds when Detroit & Milwaukee, which was sold in foreclosure. September, 1878. due, and $6,900,000 to acquire a line to Ogden. Those unissued may The bonds are guaranteed by the Grand Trunk of Canada. stock, be used with the consent of a majority of tbe preferred stock for ex· $1,500,000; par, $50. Real estate mortgages, $226,000. . tensions ali not exceeding $20,000 per mile. See abstract of mortFrom January 1 to Nov. 30, 1892 (11 months), gross earnings weregage in CHRONICLE, V. 47, p. 228. £230,019, against £225,067 in 1891; net, £54,012, against £58,946 •. United States Trust Co., New York, is trustee of the improvement Gross earnings ln 1891, $1,195,862; net, $301,906; deficit under interest,_ mortgage of 1888. Mortgage abstract in CHRONICLE, V. 47, p. 229. $56,816 against $82,205 in 1890)-paid by Grand Trunk Railway Co. GENERAL FINANCES.-Total current liabilities July 1, 1892, were $2,· Detroit Hlllsdale & sonthwestern.--Owns from Ypsilanti,. 719,422, against $3,968,097 July 1, 1891; total current assets $3,163,· Mich., to Bankers, Mich., 65 miles. The Detroit Hillsdale & Indiana355, against $3,638,462, the •·urrent liabilities in 1892 including road was sold in foreclosure Jan. 28, 1875, and this company organized $715,000 loans payable. In January, 1893, the company being "i,rac- by the bondholders. Leased in perpetuity from July 1, 1881, to the Lake tJcally free from floating debt," dividends were resumed on the pre• Bhore&MichiganSouthernCo.; the rentalis $54,000per year--4 per cent• .ferred stock, 1 p. c. being declared payable Feb. 20. See V. 56, p. 42. Detroit Lansing & Northern.-Owns from Grand Trunk Juno• LATEST EARNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 months), tlon, Mich., to Howard City, Mich., 157 miles; branches-Stanton Juno• gl'O~s $4,205,.983, against $3,955,730 in 1891J net, $~,881,815, again~t tion to Big Rapids, Mich., 63 miles; Belding Branch, .1½ miles; total, $1,, 13,072; mterest, rentals, eto., $1,128,7-8, ai amst $1,195,824 ill owned, 222 miles. Leases: Grand Trunk Junction to Detroit, 3 miles ;. 1891; balance, surplus, $753,087, against $517,24lj. Lansing to North Lansing, 1 mile; Saginaw & Western RR.-Alma to, .ANNUAL REPORT.-Fiscal year now ends June 30. Annual meeting Howard City, 43 miles; Grand Rapids Lansing & Detroit Railroadis held at D enver the third Tues<lay in October. Full report for Gnnd Rapids to Grand Ledge, 53 miles, and branch, 2 miles; total, 323 year 1891-92 was in V 55, p. 441,460,464, showin~ a decided improve- mil !S; also operates Saginaw Valley & St. Louis, 45 miles and pays-. ment over previous year. The surplus of $914,ll;j was applied to the interest on its debt, but reports earnings separately. The Detroit Lans:redustion of the floating debt. Ing & Lake Mi chigan was foreclosed in 1876 and this company formed. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis V.~~;J>-J;:.· ..J'ANO'ARY, 1803.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. 33 DENVER & RIO GRANDE RAILROAD Lago ae los Posua MAP OF CHARLESTON SHOWING THE ·R.R., WHARVES & R . R. Map Showing the Property of THE EAST SHORE TERMINAL CO. Charleston, s. C, 7,nt\:~A~S~Fff%'f-~Ef-M?i·NAL co·•s. 12 WAREHOUSES,WHARVES .. - . .~~---11 -1a1· •■ MAP OF CHAR LESTON'S Railway Conne'ciions, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis , .. '. ~ ' .j,!'. ■----~-... .. . .' . a - , ; , -~ . -~--~·-. -1 I1 ° ~ .~ ~ 0 - - . .. - ei . '. ,. .. . _ . _ , ~.:•, .,. ~~• ••· _;' · · : • t RAILROAD STOCKS AND BONDS. J .A.NU.ARY, 1893, l Subscribers '1Vill confer a g1·eat Cavor by giving hnmedlate notice oC any error discove1·ed in these Tables. Bonds- PrinotRAILROADS. INTEREST OR DIVIDENDS. Miles Date Size,or Amount Rate per When Where Payable, and by pal, When Due. Par of For explanation of column headings, &c., see notes of Stocks-Last on first page of tables. Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. Dubuque ct: Sioux City-Stock........................ 1st mortgage 2d division .......... , ................ General mort§age for $3,000,000, gold . ...... c&r Iowa Falls & ioux City 1st M., Ia. F. to S. City .. Cher & Dak and Cedar Rap. & Chic. 1st morts .. . Dulttth cf: Iron Range-1st mort age ............. ~&r Dul.Red Wingct:So.-lstM.,g.,$2 ,000 perm.ile.c &r Duluth South Shore cf: Atlantic- 5 524 43 143 184 197 116 ..... Marq. H. & On. mortgage, red. at 105 ........ c*&r 78 Gen. Mort.-lst. M. on Mar. & West., 21 m ..... c* 156 Duluth South Shore &Atlan., lstmort., gold .. c&r 366 First con.sol. mort., gold, interest ~uar ..... c*&r 580 Duluth Transfer-1st mortgage for $ ,000,000 .... ---Duluth cf: Winnipeg.-lst M.for $7,000,000,gold .. c* 100 Dul.& Winn. Ter.Co. 1st M.,$250,000,g.,guar.p.& i. 90 Dunkirk Allegh. Val. cf: Pittsburg-1st mort., !old.. c 2d and 3d mortgages ($200,000 only are 3 M.).c 90 East Broctd Top-lstmortgage ...................... r 30 East Pennsylvania-Stock 6 p. c gu. 999 yrs.Phil. &R. 36 1st mortgage, ~old, guaranteed . ........... . ... . c* 36 East Shore Terminal-1st mortgage, gold ........ c* .... 2d M. ($300,000),g.,red.at 105 & int.aft.Mar.1,'93. ---East Tennessee Vfrginia cf: Georgia-Common stock. --·· 1st preferred stock (5 per cent non-cumulative) .. .... 2d preferred stock (5 per cent non-cumulative) .. ..... Old lstM.s.f. (Bristol,Tenn.,viaChat.toDalton, Ga) 242 Divisional M., g., (Bristol, Tenn., to Selma, Ala.). c* 552 Ala. Cent. 1st M., Selma to Meridian, gold, guar. c 95 E. 'l'enn.Va. & Ga. consol. M., ($20,000,000) .c&r 1,083 1st extension mort. ($20,00 p. m .), gold ..... c&r 273 Improvement and equipment mort., gold .. .... c&r 1,083 Cincinnati Extension Collat. Tr., gold, guar ..... c* ---- 8. --$100 ---· 1864 500 &c. 1888 ---1869 500 &c. 1888 --·· 1887 1,000&c 1888 1,000 1,000 1883 1,500,000 6 J. & D. N. Y., Third Nat. Bank. 1,000 1885 1,400,000 A. & 0. 6 do do 1,000 4,000,000 1887 5 g. J. & J. do do 1890 100 &c. 13,100,000 4 g. F. &A. New York or London. 1,000 1891 6 g. J. & J. N. Y., Metropol. Tr. Co. m 1,000 1889 2,000,000 5 g. J. & J. Phil.,Gua.Tr.&SafeDep. 1892 1,000 6 g. J. & J. m 1870 1,000 2,000,000 7 g. J. & D. N. Y., N. Y. Cent.& Hud. 1,000 1872 900,000 A. & 0. 7 do do 1,000 1873 500,000 4 J. & J. 50 1,730,450 6 per an. J. & J. Phil., Phil. & Read. RR. 1,000 495,000 4 g. M. & S. do do 1,000 1 890 1,000,000 5 g. F. & A. N.Y.,Davis&Co.,44Wall 1,000 1892 277,000 8 g. M. & S. do do 100 27,500,000 . ..... ...... .... 100 11,000,000 2 Nov., '91, div. last paid. .. .... ....... 18,500,000 . ... 1,000 1870 3,123,000 .r. ..&.. J. N. Y., 7 Bank. 1,000 1880 3,106,000 5 g. J. & J. do do 1,000 1879 1,000,000 6 g. J. & J. do do 1,000 12,770,000 1886 5 g. M.&N. do do 1,000 1887 5,140,000 5 g. J. & D. June, '92, cou. la st paid. 1,000 1888 6,000,000 5 g. M.& S. N. Y., Chase Nat. Bank. 1,000 1890 6,000,000 5 g. F. &A. do do isss ---- DIVIDENDS.-On common stock sinr,e 1879-In 1880, 6; in '83, 6; in '84, 6; in 1887, 3; in 1888 and 1889, nil. On preferred stock in 1879, 912 per cent; from 1880 to 1884, inclusive, 7 per cent; in 1885, 512; in 1886, 812; ni 1887, 7; in 1888, 312; in 1889 and since, nil. BONDS.-The sinking fund holds $218,000 of the Detroit Lansing & Northern 7s and $20,000 o1 the Ioni!li & Lansing 5s given as outstanding in the table. LATEST EARNINGS.-January 1 to Nov. 30, 1892 (11 months), gross $1,153,566, against $1,152,806 in 1891; net, $317,893, against $345,428; interest, rentals, &c., $288,973, against $288,973; balance surplus, $28,919, against $56,455. ANNUAL REPORT.-Report for 1891 was in V. 54, p. 682, showing as follows: 1888. 1889. 1890. 1891. Total gross earnings.$1,0H,800 $1,131,986 $1,219,663 $1,254,100 Net over exp.& taxes. 321,170 325,062 392,797 375,446 Interest paid......... $310,546 $331,774 $318,633 $316,587 Balance .............. sur. 10,624 def. 6,712 sur. 74,164 sur. 58,859 Def. S. V. & St. L. RR. 11,738 3,369 profit. 19,149 -(V. 52, p. 49'7; V. 53, p. 187;_ V. 54, p. 287, 682; V. 55, p. 255.) Dubuque & Sioux Clty.-Owns from Dubuque, Iowa, to Iowa Falls, 143 miles ; Iowa Falls to Sioux City, 184 miles; Manchester to Cedar Rapids, 42 miles; Onawa, Iowa, to Sioux Falls, Dakota, 155 miles; tota., 524 miles. Also leases Cedar Falls & Minnesota, 76 miles. Total operated, 600 miles. In A.pnl, 1887, ·a controlling interest in the stock was sold to Illinois Central and in February, 1891, the road was leased to that company, the rental being net earnings and the lease terminable on 60 days notice. See V. 52, p. 350; V. 51, p. 493. CEDAR FALLS & MlNNESOTA LEASE.-In 1887 a suit was begun to annul the lease of the Cedar Falls & Minnesota RR. Under a cross bill in the U. S. Circuit Court in Chicago, that Court decided the lease valid as against the Dubuque & Sioux City Co., but that the Illinois Central Railroad Co. is in no way bound to the Cedar Falls & Minnesota Co. The Dllbuque & Sioux City Company has appealed to the Supreme Court of the United States. STOCK A.ND BONDS.-The Illinois Central Railroad Company July 1, 1892, owned $7,917,800 stock and $1,907,000 5 per cents; also all the Cherokee & Dakota and Cedar Rapids & Chicago 5s, due in 1935, which are pledged as part security for its 4 per cents of 1952. DIVIDENDS-In 1888, 12 of 1 per cent; in 1891, June, 1; December, 1; in 1892, June, about 1 5 of 1 per cent; in 1893, January, 1 14 per cent. E.A.RNINGs.-rn year ending June 30, 1892, gross earnings were $2,540,516 (against $2,447,489 in 1890-91); net, $793,405; loss from operatin"' Cedar Falls & Minnesota, $16,991; available net, includin"' $2,113 other income, $778,526; rental Cedar F alls & Minnesota, paid'. into Court, $113,370; interest, $503,335; dividends, $95,660; sinking fund, $9,210; other payments, $56,951; balance, nil. (V. 54, p. 159; v. 55, p. 542.) DuJuth & Iron Rano-e. -Owns Duluth to Ely, Minn., 116 miles. Sold to a syndicate in 1887, and above mortgage authorized at the rate of $25,000 per mile for construction and $7,000 for equipment, the Metropolitan Trust Company of New York being trustee. Branch, under construction, was to be completed in 1892. Stock authorized, $3,000,· 000; outstanding. $500,000; par $100. Land grant from Minnesota about 506,000 acres. See V. 51, :I?· 875. The Minn. Iron Co. owns the stock, $3,500,000 income certificates and $400,000 bonds. From Jan. 1 to Sept. 30, 1892 (9 months), gross earninirs were $1,283,180, against $827,714 in 1891; net, $741,627, against $406,241. In 1891 gI'08S earnings were $1,154,129; n et, $618,321; interest paid, $218,200; rentals, $1,438; improvements, $23,751; surplus, $374,931, against $330,744 in 1890. President, J. L. Greatsinger, Duluth. (V. 51, p. 875.) Duluth South Shore & A.tlantlc.-Operates Duluth to Sault Ste. Marie, 411 miles (of which 44 miles from Duluth to Iron River is used in common with Northern Pacific); "Soo" Junction to St. Ignace, 43 miles; other lines, 135 miles; total, 589 miles. At Sault Ste. Marie connection is made by bridge with the Canadian Pacific. ORGANIZATION, &c.-In July, 1888, a controlling interest in this company's stock was sold to Canadian Pacific parties. The Marquette Houghton & Ontonagon 160 miles, was leased in p erpetuity, but in 1890 the lease was rescinded and all the property, except its franchise, sold to the Duluth South Shore & Atlantic, which assumes its debt and gives new con.sols in exchange for its stock. CAPITAL STOCK.-Common stock is $12,000,000 ; preferred, $10,000,000; par both $100. Preferred stock is 6 per cent, non-cumulative. BONDS, &c.-Car trust 6s, Dec. 20, 1892, $280,175, due in instal• ment , last maturing Nov. 7, 1895. See abstract of first mortgage, V. 45, p. 274. Marquette & Ontonagon bonds and M. H. & 0. 6s of 1878 to a total of $1,930,500 were paid in 1892 and replaced by consol. 4s. The first consolidated mortga~e of 1890 has interest at 4 per cent, guaranteed by Canadian Pacific. The amount authorized by it is $20,000,000 on the 580 miles now or hereafter owned, and $20,000 per mile of new lines in excess of 580 miles. Of this $6,900,000 is reserved for prior bonds. See V. 50, p. 874. EAnNINGS.-January 1 to Dec. 31, 1892 (12 months), gross earnings $2,245,716, against $2,160,118 in 1891. In 1891 gross earnings were $2,160,118; net, $827,826. See V. 54, p. 847. In 1890, $2,241,097; net, $818,393. 1V. 55, p. 765, 1110.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis --- $8,000,000 See text. N. Y., Office, 216 B'way. J.""&.. J . 586,000 7 do do 2,231,000 5 g. J. & D. do do 2,339,500 7 A. & 0. do do 3,930,000 5 J. &D. do do 4,531,000 .A.. & 0. N. Y., Office, Mills Bldg. 5 (i) 5 g. J. & J. New York City . ---·- Chase Nat. Jan. 18, July 1, June 1, Oct. 1, Dec. 1, Oct. 1, Jan. 1, 1893' 1894. 1938 1917 1935 1937 1928 June 1, 1923 Apr. 1, 1925 Jan. 1, 1937 Aug. 1, 1990 Jan., 1921 July 1, 1929 July 1, 1922 June 1, 1900 Oct. 1, 1900 July 1, 1903 Jan., 1893' Mch. 1, 1958 AuK. 1, 1915 Mc . 1, 1902 Nov. ·go: "i891 Juiy · 1,· "i900 July 1, 1930 July 1, 1918 Nov. 1, 195& June 1, 1937 Sept. 1, 1938 Feb. 1, 1940 Duluth TrausCer.-Present mileage of road is 7 miles, to which is being added about 5 miles now under contract, extending from West Duluth into the City of Duluth and from West Duluth to Ironton. Th& mortgage for $2,000,000 is to the Metropolitan Trust Co. of New York. as trustee, and provides for bonds at $50,000 per mile for road between Ironton and Lake Avenue, Duluth, at $20,000 for additional singl& track, at $13,200 for double trn.ck; and for $750,000 for bonds for depot &'rounds, depot in Duluth, wharves, freight houses, etc. STOCK authonzed, $2,000,000. DnJuth & Wlnnlpeg.-Owns road completed in 1892 from New Duluth to Deer River, Minnesota, 100 miles. The Terminal Co., controlled by the Duluth & Winnipe~, _owns dock and terminal property on Allouez Bay, Superior, Wis ., wnich will be used by the D. & W. Operated by lforth Star Construction Co., Baltimore. STOCK authorized-common, $3,000,000; preferred, 5 per cent, $2,000,000. BONDS.-Trustee of mortga~e for $7,000,000 is the Guar. Trust & Safe Deposit Co. of Philadelplua. EARNHGS.-In the fl.seal year ending June 30, 1892 (road still under construction), gross earnings were $114,260; net over expenses and ,-;axes, $40,202. H. J. Boardman, Boston, Mass., President of D. & W. RR. Co.; E. N. Morrison, Baltimore, President of North Star Construction Co. (V. 53, p. 58, 368; V, 54, p. 597; v. 55,p. 297.) East P ennsylva nia,- Owns double track from Readin"', Pa., to Allentown, Pa., 36 miles. Leased for 999 years from May 1, 18~9, to th& Philadelphia & Reading RR. at a rental of 6 per cent per annum on the stock and interest on the bonds. Eas t Sho:re T e rminal.-( See Map.J-Owns railroad, piers, warehouses, cotton presses, &c., on the water front at Charleston, 8 . C.,Jte lines connecting the railroad system centering at CharlestoD with the piers. The 2 d mort. bonds for $300,000 are redeemable at 105 and interest on any coupon day after March 1, 1893. Stock authorized by charter. $5,000,000; outstanding, $1,120,000. For 9 months ending Dec. 31. 1892, net earnings were $56,399. New York office, 44 Wall Street. Samuel D. Davis, Presict.ent.-(V. 53, p. 407.) East Tennessee Virginia & Georgia Raihvay. - (See Map.)Owns: Bristol to Chattanooga, Tenn., 242 miles; Morristown to Unak~ 44 miles; Cleveland to Selma, 264 miles; Selma to Lauderdale, 95 miles; Elizabeth, Ala., to Akron, 53 miles; Rome, Ga., to Macon, 159 miles (18miles jointly with Georgia Pacific); Macon to Brunswick, 190 miles; branches to Sava~e Creek, &c., 78 miles; Rome to Attalla, Ga., 62miles; total owned, 1,li:s7 miles; trackage (Mobile & Ohio) Lauderdale to Meridian1 18 miles; leases the Knoxville & Ohio Road, 66 miles, and · controls lihe Briar:tleld Blockton & Birmingham Railroad, Birmingham Junction_to Blockton, and branch to BessemP.r, 52 miles; also owns th& Tenn. & Ohio, Knoxville & Augusta and Johnson City & f'arolina Railroad, 48 miles; total June 13, 1892, 1,371 miles. Controls also th& lines of the Memphis & Charleston Railroad from Chattanooga to Memphis, Tennessee, 310 miles, and the Florence and Somerville branches. 20 miles; the Mobile & Birmingham, 150 miles. Total East TennesseeVirginia & Georgia,, 1,851 miles. Also leases the Louisville Southern RR, 130 miles, and is intereste<l in the Erlanger roads; the Cincinnati New Orleans & Texas Pacilio,. Cincinnati to Chattanooga, Tenn., 336 miles; the Alabama Great, Southern, Wauhatchie, Tenn., to Meridian and branch, 295 miles> etc_ ORGANIZATION, ETC.-This road, the East Tennessee Virginia & Georgia Railway, was formed in 1886 as successor of the East Tennessee Virginia & Georgia Railroad, which was sold in f9reclosure May 25, 1886. The Richmond Terminal held on November 30, 1891,. $8,783,200 first preferred, 'l,6,536,000 second preferred a nd $5,8~0.000 common, of which $8,283,200 first preferred and $4,225,000 second preterred were pledged under its trust deeds. As to election in November, 1892, see V. 55, p. 856. The Knoxville & Ohio was leased for 99 years from 1889 and iw bonded interest guaranteed by the rental. In April, 1890, acquired an interest in the Alabama Great Southern system by purchase of stock. See Cincinnati New Orleans & Texas Pa-cific, also statement concerning Cincinnati Extension bonds below, andV. 50. p. 560. In July, 1890, leased Louisville Southern for 99 years. guaranteeing 5 per cent on bonds. (See V. 51, p. 51.) RECEIVERSHIP.-On June 24, 1892, on account of the embarrassment of the Richmond & West Point Terminal Co., Charles M . McGhee and Henry Fink were appointed receivers of the East Tennessee Virginia & Georgia Railway company, including its leased lines. All interes~ obligations, however, due July 1, 1892, were paid, except Memphis & Charleston and Mobile Si Birmingham coupons. General Thomas says the property is sound and needs no reorganization aside from ad.iustment of some of the l ater issues of bonds mainly held hy friends of the company with whom some arrangement made without difficulty. Two, committe~s ask the co-operation of bondholders; see V. 55, p. 21, 255. Default occurred Dec. 1, 1892, on the extension mortgage 5s and th& general mortgage 5s (V. 55, p. 938),but coupons due Jan. 1, 1893, on 1st 7s, Divisional 5s, Alabama Cenh·al 6s, Knoxville & Ohio 6s andi Louisville Southern 5s, were paid at matm·ity. V. 55, p. 1110. CAPITAL STOCK.-Both the first preferred and the second preferrecl stocks are entitled to a non-cumulative dividend of 5 per cent. DIVIDENDS have been: On first preferred stock in 1887, 4 per cent; 1m 1888, 5; in 1889, 5; in 1890, 5; in 1891, 2. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ ~ § ~ ~ 00 ~ 0 ~ 00 ... 00 '), ~ q ~ ~ ; ~ MAP OF THE EAST TENNESSEE, VIRGINIA & GEORGIA RAILWAY SYSTEM. JANUARY, RAILROAD 1893.J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCKS AND BONDS urhn~ton --------------- - __ j 0 N MAP OF THE ELGIN, JOLIET AND EASTERN RAILWAY CHICAGO OUTER BELT LINE CONNECTING ALL RAILROADS CENTERING AT CHICAGO. ' INVESTORS' SUPPLEMEN1.'. [VoL. LVI. Subscribers will confer a great t'avor by giving immediate notice ot' any error discovered in these Tables. INTEREST OR DIVIDENDS. Bends-Prinol• RAILROADS. Miles Date Size, or A.mount - - - - - , - - - - - - - - - - - - - - pal,WhenDne. Pur explanation of column headings, &c., see notes of of Par Outsta.ndin"' Rate Per When Where Payable, and by Stocks-La.st on flrstpage of tables. Road. Bonds Value. ° Cent. Payable Whom. Divideud. I ll<Mt Tennessee Virgini a <I: Gwrgia-(OoncludedJ- General mortgage for $15,000,000, gold ...... c&r Knoxville & Ohio-lat M., gold, guar.byrent.o*&r · 66 Bast cl West .Ala.-lst cons. M., g. ($15,000 p. m.) c• 116 llastern (N. H.J-Stock ... ; ........................... 16 Bel .Ritier-Stock, 212 to 3 p. o., guar. by Wabash... 94 Jll,Jlin Joliet cl Easten11-lst M. ($10,000,000) gold .o* 177 JIUzabethtown Lex. & Big Sandy-See CHESAPEAKE & Om JDmira Oortland & Northen11-lat pref. M., gold .. o" 120 lat mortgage, gold................................. 120 Jrlmira&La/ceOnta1'io--SodusBay&So.-lstM.,g.c 34 Jllmira & Williamsport-St'k, com., 5 p. o. ren'l, N.C. 7512 Preferred stock, 7 p. c. rental, 999 yrs., No. Cent. 7512 lat mortgage ...................................... r 7512 Income bonds, 999 yea.rs to run . .......•......• o* .. • • Brie cl Pitts.-Stook, 7 p. o. rental,999 yrs .. PennCo. 85 Consol. mort. free of State tax (for $4,500,000) .o 81 Equipment bonds ................................. o 81 ~eneral mo_rt. for $4,500,000 series A, g., guar... 81 Jlrie cl Wyoming Valley-lat mortgage ......•...... c . . . . llurelca Springs-lat mortgage, gold ............... o 19 2d mort. income bonds................. . ........... . . . . Jluropean cl North .American-See MAINE CENTRAL. Jlr,ans'l!ille cl Indianapolis-T. H. & Southe.lst M.c* 40 Evansville & Indianapolis 1st mort., gold,gua.r.. c* 55 ConsoL mortgage (for$2.500.000) gold, guar.o* 135 •ans.c!Rich.-lstgen.M.,$12,500 p.m.,g.,guar.o~ 112 Jloans'l!ille ti Terre Haute-Stock.. . . . . • • . . . . . . • • . . . . . 1st consolidated mortgage, gold ................ c* 144 Mt. Vernon Branch mortgage, gold ............. o* 25 Sullivan County Coal branch mortgage, gold .. . c* 15 1st general mortgage for $7,000,000, gold ..... o* 182 1890 1885 1886 •• •. .... 1891 o. 1884 1884 1884 .... i860 1863 .... 1868 1870 1890 1883 1883 1883 1879 1884 1886 1891 . ... 1881 1883 1890 1892 $1,000 1,000 1,000 100 100 1,000 & & & & A. & M. & J. J. J. J. D. June, '92, oou. last paid. J. N. Y., Chase Nat. Bank. D. Last paid Dec., 1887. D. Boston, by Treasurer. 0. Boston, by Treasurer. N. N. Y., Drexel, M. & Co. Dec. July Dec. Dec. Oct. May 1, 1940 1, 1925 1, 1926 15, 1892 5, 1892 1, 1941 1,000 1,000 1,000 50 50 1,000 500 50 1,000 1,000 1,000 1,000 1,000 500 750,000 6 g. A. & 0. N. Y., 192 Broadway. 1,250,000 5 g. A. & 0. do do 500,000 5 g. J. & J. N. Y., Nat. Bank Com. 500,000 5 per an. M. & N. Phila., Penn. RR. Co. 500,000 7 per an. J. & J. do do 1,000,000 6 J. & J. do do 570,000 5 A. & O. do do 1,998,400 7 per an. Q.-M. N. Y., Union Trust Co. 2,109,000 7 J. & J. do do 511,000 7 A. & O. do do 775,000 4 g. J. & J. do do 3,000,000 6 J. & J. Office, Dunmore, Pa. 500,000 6 g. F. & A. N. Y., Mercantile Tr. Co. 500,000 6 Feb'y 1. do do Apr. 1, 1914 Apr. 1, 1914 July 1, 1924 Nov. 1, 1892 Jan. 2, 1893 Jan. 1, 1910 Oct. 1, 2862 Dec., 1892 July 1, 1898 Oct. 1, 1900 July 1, 1940 July 1, 1913 Feb. 1, 1933 Feb. 1, 11}33 1,000 1,000 1,000 1,000 50 1,000 1,000 1,000 1,000 251,000 7 M. & 8. N. Y., Farm. L. &Tr. Co. 653,000 6 g. J. & J. do do 1,596,000 6 g. J. & J. [ do do 1,400,000 5 g. M. & 8. N. Y., Farm. L.& Tr. Co. 3,000,000 See text. Bee text N. Y., Farm. L. & Tr. Co. do do 3,000,000 6 g. J. & J. 6 g. A. & 0. do do 375,000 450,000 5 g. A. & 0. do do 1,150,000 5 g. A. & O. do do Sept. 1, July 1, Jan. 1, Sept. 1, Jan. 25, July 1, Apr. 1, Apr. 1, Apr. 1, PRICE OF STOCK.-Common-In 1890, 638@1112; in 1891, 5@814; in 1892, 338@9~; in 1893 to Jan. 20, inclusive, 338@4~. First preferred-In 1890, 55@81; in 1891, 40@66; in 1892, 2212@51 ~; in 1893 to Jan. 20, inclusive, 3212@33. Second preferred-In 1890, 1312@2714; in 1891, 97s@19¾,; in 1892, 612@20; in 1893 to Jan. 20, inclusive, 6@105s. BONDS.-Besides the bonds of the Knoxville & Ohio in the table above the company guarantees $3,000,000 Mobile & Birmingham 5 per cents and $5,000,000 Louisville Southern 5 per cents-see those oom_panies. The trustee under the consolidated mortgage of 1886 and the first extension mortgage of 1887 is the Central Trust Company of New York; $7,325,000 consolidated bonds were reserved to retire prior bonds of the Alabama Central RR. and the East Tennessee Virginia & Geori,ia. The Cincinnati Extension bonds of 1890 were issued jointly oy this OOm_\)any and the Richmond & Danville, and are guaranteed. principal and mterest by the Richmond & West Point Terminal. They are further secured by a deposit of £340,000 6 per cent preferred A shares and £783,010 ordinary B shares of the Alabama Great Southern. There was also to be deposited for them $500,100 stock of the Cincinnati New Or• leans & Texas Paciflo, and pending such deposit $500,000 in cash. See abstract of mortgage in v. 52 p. 83. The issue of bonds under the extension mortgage of 1887 has been limited by vote of the Board of Directors to $5,140,000. These bonds are exchangeable for the ge,,eral mortgage bonds of 1890. The general mortgage of 1890 for $15,000,000 was to be used in building branches, double tracking, and retiring $5,140,000 extension bonds of 1887, whole issue not to exceed $20,000 per mile. LA.TEST EARNINGS.-From July 11 1891, to Jan. 31, 1892 (7 months), gross earnings including the K. & 0., the Louisv. South. and Mob. & Bir., were: $4,695,986, against $5,168,485 in 1890·91; net over ex• nses and taxes, $1,279,126, against $1,502,381. For 2 months end• .Aug. 31, 1892, gross, $1,014,044, against $1,096,940 in 1891. NNU.AL REPORT-Fiscal year ends June 30. Report for 1890·91 was ln V. 53, pp. 711, 714. The results do not include Knoxville & Ohio, etc. 1887·88. 1888·89. 1889·90. 1890-91. Jrllles operated June 30. ... 1,069 1,067 1,197 1,265 'Total gross earnings ...... $5,109,917 $5,301,624 $6,412,078 $6,718,730 ,Oper'ng expenses & taxes 3,393,238 3,508,610 4,338,838 4,644,289 f:.i Net earnings .......... $1,716,679 $1,793,014 $2,073,240 $2,074,441 Net, inoLmis.inoome ..... $1,723,835 $1,809,770 $2,125,927 $2,200,745 Interest on bonds....•.... $1,086,993 $1,223,852 $1,404,743 $1,855,243 Div. on lat pref. st'k, 5 p.o. 550,000 550,000 550,000 * 550,000 Kisoellaneous.... .. ....... 16,156 18,775 ........ .. 73,966 Total disbursements .. $1,653,149 $1,792,627 $1,954,743 $2,479,209 Balance .............. ...... sur.60,686 sur.17,143 su.171,184def.278,464 *This dividend was paid in the year out of previous income, but from the earnings of 1890-91 only2peroentwasdeolared, payableNov. 30,'91. -(V. 52, p. 80, 83, 831, 902: V. 53, p. 407. 711, 714, 922; V. 54, p. 643, 800, 924; v. 55, p. 21, 255, 856, 895, 938, 1110.) East & West Kallroad ot' Alabaina.-Owns Cartersville, Ga., to Pell City, Ala., 117 miles; branch, 2 miles. Stock issued, $10,000 pe_r mile; par, $100. Chas. P. Ball, Cartersville, Ga., Receiver. Cer• tulcates for $649,863, bearing 8 per cent interest, were issued to put the ro:Ld in thorough repair. Gauge changed to standard in 1890. In November, 1892, decree of foreclosure was obtained. (V. 55, p. 938.) Litigation as to validity of $981,000 of the bonds pendin~, and sale must wait result. No interest is paid on receiver·s cert1ftoates. In year ending June 30, 1892, gross earnings were $128,030 ! net, $11,821. In 1890-91, gross, $133,479; net, $6,868. E. Kelly, President, New York. (V. 55, p. 938.l Eastern (1'.lass.)-SEE BOSTON & MAINE Eastern 1'.linnesota.-SEE GREAT NORTHERN. Ea■tern (N. H.)-Owns from Portsmouth, N. H., to Seabrook Ci{assaohusetts State Line) 16 miles. Leased to the Eastern RR. (now eonsolldated with Boston & Maine) from October 1, 1878, for 60 years and 2 months at $22,500 per year. In June, 1891, a stock dividend of 50 per cent was paid. Dividends till increase of stock were 412 per cent per_ annum, since increase, 3 per cent. The directors have been author• t\.zed to arrange for a union with the Boston & Maine. (V. 52, p. -039.) Eel Kiver.-Owns from LogansJ.>ort, Ind., to Butler, Ind., 94 miles. This was formerly the Detroit Eel River & Illinois Railroad, sold under foreclosure July 6, 1877. Leased for 99 years, April 1, 1887, renewable forever, to Wabash, at 2 per cent yearly on the stock till April, 1892, then 212 till,1895 a nd 3 per cent thereafter. V. 53, p. 436. Elgin Jollet & Eastern.-(SeeMapJ-Ownsfrom Waukegan Ill., ~two miles east of Elgin), via Spaulding and Joliet, to McCool, Ind., 125 miles, and branches Aurora to N ormantown. 9 miles-Walker to Cos• iter, fil-32 miles; branche.s, 11 miles; total, 177 miles. This is a great ·belt line affording to roads approaching Chicago facilities for transfer ,of freight from one line to another without breaking bulk. Also reaches the coal fields of Grundy County. STOCK.-Stook, $6,000,000; par, $100. BoNDs.-First mortga~e (trustees Central Trust Co. and J. l\I. Butler) is for $10,000,000; the oalance unissued can be disposed of for exten• aions, betterments, etc. Bills payable were $120,000 July 1, 1892. LATEST EARNINGS.-From July 1 to Nov. 30 (5 months) in l 892 gross ~77,373, against $338,878 in 1891; net, $119,757 against, $126,868. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $320,000 5 g. 2,000,000 6 g. 1,725,000 6 g. 738,750 3 per an. 3,000,000 212per an 5,589,000 5 g. 1909 1924 1926 1931 1893 1921 1923 1930 1942 ANNUAL REPORT.-Report for 1891-92 was in V. 55, p. 677. In 1891· 92 gross earnings, $815,134; net, $267,202 (against $195,834 in 189091) ; interest on bonds, $278,900; deficit, $11,698. President, Samuel Spencer. New York.-CV. 52, p. 350; V. 53, p. 603; V. 55, p. 6'7'7,) Elizabethtown Lexington & Big Sandy .-Bee CHES. & OHIO Elmira Cortland & Northern.-Owns Elmira, N. Y., to Cana: etota, N. Y., 119 miles, and leases during corporate existence, Canastota. Northern Railroad, Canastota to Camden. N. Y., 21 miles. Bold in foreclosure in 1878 and again in February, 1884, and reorganized as at present. Stock is $2,000,000; par, $100. From July 1, 1892, to Sept. 30, 1892 (3 months), ~ross earnings were $125,867, against $111,244 in 1891; net, $57,137, against $44,942. In year ending June 30 1892, gross earni!lgs were $395,819; net, $115,990; interest en preferred mortgage, etc., $46,400; rentals, etc., $18,000; surplus, $51,590. In 1890·91 gross $463,452. Austin Corbin, President, New York City. Elmira & Lake Ontario.-Owns from Canandaigua, N. Y., to Chemung Junction, 64 miles; Sodus Point to Stanley, 34 miles; other 2 -total, 100 miles. A consolidation in December, 1886, of the Eodus .Bay & Southern and other railroads. Leased at cost of operatin_g to the Northern Central, which owns all the $1,500,000 stock and !!!226,000 Sodus Bay bonds, including $99,000 in insurance fund. Lease may be terminated on thirty days' notice from either party. In 1891 the gross earnings were $706,186; net, $3,574; interest, $25,000; other charges, $16,894; deficit, $38,320, payable by lessee. Ehnira & Wllllainsl)ort.-Owns from Williamsport, Pa., to El• mira, N. Y., 7512 miles. This company was reorganized under the present name February 29, 1860, and leased to the Northern Central Railway for 999 years from May 1, 1863, at a rental of $151,500 per annum after January 1, 1880. The dividends on the common stock are 5 per cent and on the preferred 7 per cent, less taxes, making dividend on common 4·56 p. c. and on preferred 6·34 p. c. Gross earnings in 1891, $955,727; net, $213,758; rental, $153,426. Erle & Plttsbnr~.-Owns New Castle, Pa., to Girard, Pa., 82 miles; branch, Dock Junction to Erie Docks, three miles; trackage (Lake Shore & Michigan Southern); Girard to Erie, 17 miles; total operated, 101 miles. Road opened in 1865. It was leased to the Pennsylvania Railroad 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 Company. In October, 1890, a new mort~age for $4,500,000 was executed, $3,262,000 being reserved to retire prior bonds and the balance for improvements, &c. The lease has been quite unprofitable to the lessees, the deficiency paid by them in 1885 being $354,633; in 1886, $225,794; in 1887, $287,306 in 1888, $211. 063; in 1889, $290,734 ; in 1890, $267,705 ; in 1891, $201,724. Eureka Sprlngs.-Seligman, Mo., to Eureka Springs, Ark., 1819 miles; projected to Harrison, Ark., 50 miles beyond. Btook, $500,000; par, $100. There is a traffic contra.ct with St. Louis & San Francisco. In year ending June 30, 1892, gross earnings were $76,112: net, $41,619; interest lat mort., $30,000; interest on incomes, ,15,000. Total surplus June 30, 1892, $30,806. Evansville & Indianapolls.-( See Map Evansville cl Terre Haut~ -Owns Evansville to Terre xlaute, Ind. (via Worthington), 138 miles; branch 6 miles; leases branch to Brazil, 12 miles; total 156 miles. consolidation in October, 1885, of three corporations, viz.: the Evansville & Indianapolis, the Evansville Washington & Brazil and the Terre Haute & Southeastern RRs. Of the consolidated mortgage bonds. $904,000 are reserved to meet prior liens. The consolidated bonds and the bonds of 1924 are ~aranteed by the Evansville & Terre Haute Co., which owns entire capital stock, $2,000,000. From January 1 to Dec. 31, 1892 (12 months), gross earnings were $374,941, against $354,318. In year ending June 30, 1892, gross earnings were $368,795; net, $179,210; fixed onarges, $168,514; surplus, $10,696. In 1890-91 gross $328,278; net $142,132. ( V. 54, p. 119.) Evansville & Richmond.-( See Map Evans. ct Terre H.J-Owns Elnora to Westport, Ind., 102 miles, and coal spurs 10 miles and projected from Westport to Richmond, 65 miles. Controlled and operated by the Evansville & Terre Haute, which guarantees by endorsement on each bond the principal ana interest of the general mort~age 5s and owns the entire capital stock of $1,500,000. The author 1zed issue of these bonds is $2,000,000, of which $1,4.00,000 were to be used to retire the Eastern and Western Division bonds. Of the amount g iven above as outstanding $122J)00 were held in November 1892, to retire a like amount of Western .uivision gold 5s (M. & 8.) due Sept. 1, 1928, not yet exchanged. See V. 54, p. 366, 587, 643. From Oct. 1 to Oct. 31, 1892 (1 month), gross earnings ~$14,285, against $9,664 in 1891. . Evansville & Terre Haute.-( See Map.)-Owns from Evansville to Ten·e Haute, Ind., 109 miles; Fort Branch to Mt. Vernon, 37 miles; other branches, 15 miles. Proprietary Lines-Evansville Belt Railway, 5 miles; total operated directly, 166 miles. Operates, keeping earnings separately, Evansville & Indianapolis (which see), 144 miles,and leased line, 12 miles; Evansville & Richmond Railroad, Elnora to Westport, 102 miles, and coal spUI·s 10 miles; total of all, 430 miles. The Rook• ville Extension, 23 miles additional, is leased to the Terre Haute & Logansport and Chicago & Eastern Illinois for $12,000 yearly. Also owns entire stock af Evansville & Indianapolis, which see. JANUARY, 1893.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis E MAP OF THE EVANSVILLE & TERRE HAUTE R. R. EVANSVILLE & INDIANAPOLIS R. R. EVANSVILLE & RICHMOND R. R. EVANSVILLE BELT RAILWAY. PEORIA, DECATUR & EVANSVILLE RY. Louisville,, Evansville & St. Louis ConsoKdated. INVEStl'ORS' SUPPLEMENT. t VoL. LVI. Subscribers will conf'er a great favor by giving lnunedlate notice of any error discovered In these Tables. RAILROADS. ' p or explanation of column headings, &c., see notes on first page of tables. 6tJans?Jitle Terre B. <i: Ohic.-lst M., g., mt. ~a.r .. c* . ... c* 2d mortgage, gold, int. guar. by Ch. & E. Incomes ............................................ l!all Brook-Cor. Cow. & Antrim deb., d'n at 100 .. c" Farmville <i: Powhatm'lr-lst mort. for $550,000 .... Second mortgage for $500,000, incomes........... Findlay Ft. Wayne & West.-lstM.,g.,$18,000p.m.c* ll'Uchlnirg-(.;ommon stock .. _........................ Pref. 4 per cent stock, non-cum. __ . __ .. _____ ....... Bonds, $500,000 are 6s, due Oct. 1, 1897. __ . __ .. c Bonds,$500,000 yr'ly,'99to 1903 incl., bal.1908.c* Bonds. __ ............ __ ..... _.... _.... . ........... _.. Bonds to State of Mass. (312 p. c. int. till Feb., '97) Bonds ..•........................................ c&r .Bonds._ .............. _... _......................... .Bonds ($1,500,000 due 1907, interest A. & 0) .... Bonds ............................................. c :Bonds for $1,791,000 ... . . . ........................ .Boston Barre & Gardner 1st M., $91,300 a.re 7s .. 2d & 3d morts., $95,700 of 3 p.cts. are 2d mort ... 'Troy & Boston lstmort. (V. 53, p. 405) ........... .Boston Hoosac Tunnel & W. debentures, see text ,Cheshire RR. plain bonds, $550,000 due 1898 .. c' 'Brookline & Pepperea plain bonds, ,mar. (end) .. •tint ti PereMarquette-<Jommon steck ($3,500,000) · Pref. stock, non-cumulative (for $6,500,000) ..... Holl{ Wayne & Monroe 1st M. sink. fund, end .. o ' Flin & Pere Maritte mo~ge 6s of 1920, gold.c ) $20,000 p. m., g.c* Consol. M.,(for 10,000, !Port Huron & Northwestern-1st mort~ge .... . c 1st M.on Port. Huron Divlor $3,500,0 ,gold. c* .Equipm't bonds, $40,000 ue annually Nov. l.c* I Bonds-PrinotINTEREST OR DIVIDENDS. Miles Date Size, or pal,When Due. Amount Par Outstanding of of Rate per When Where Payable, and by Stocks-Last Whom. Cent. Payable Road. Bonds Value. Dividend. 49 49 ..... ..... .... .... -· -· ------· ---..... .... ---· ---· ··-· ------.... 38½) ---35 .... .... 629 629 65 281 384 218 228 .... --1870 1872 1881 1883 1888 1889 1890 .... $1,000 1,000 ·--·--· ---1,000 1,000 $775,000 325,000 150,000 890,000 320,000 500,000 (1) 6 g. M. & N. N. Y., Farm. L. &Tr. Co. do do 6 g. J. & J. do do M. & N. 6 M. & N. Phila., Fidelity Trust. 6 M.& N. 6 . .......... F. & A. 6 5 g. J. & J. N. Y., Washington Tr 7,000,000 ..&.. J. 17,000,000 See ·text. J . Boston, Office. '74&!7 1,000,000 6&7 A. & 0. do do Various 5 '80-'88 do 4,500,000 do M.& 8. 750,000 5 1889 do do ..... 1887 do 5,000,000 3½1 to 4F. &A. do 1,000 1887 2,250,000 do do 4 1'3 M.& 8. J. & D. 1,000 5 1890 500,000 do do 4 Various '84-'87 1,000 do 2,500,000 do 1,000 4 1890 500,000 J. & D. do do 1892 ..... ... See text. 1873 100·&0. do do 391,000 5&7 A:·&··o. 1875 do 153,000 3 &6 J. & J. do J. & J. 1,000 7 1874 do 577,000 do M.& 8. N. Y., Kountze Bros. 1,000 5 1883 1,400,000 J. & J. Boston, Fitchburg RR. 6 800,000 76-'78 500 &c. J. & D. do 5 .... do 100,000 100 3,298,200 100 6,342,000 See.text. F...&. A. East S~., Mich., Treas. J. & J. N. Y., erchants' N.Bk. 8 is1"i 1,000 1,000,000 1,000 6 g. A. & 0. N. Y., Mer. EL Nat. Bk. 1880 3,999,000 5 g. M.&N. do 1,800,000 1,000 do 1889 A. & 0. 7 do 104,000 do 1879 ---·· 1,000 do 5 g. A. & 0. do 3,125,000 1889 M.&N. Boston, Intern'! Tr. Co. 1,000 200,000 5 1887 100 100 1,000 1,000 ---- ---- ---· ---· -----May 1, 1900 Jan. 1, 1900 May 1, 1920 May 1, 1898 May, 1922 July 25, 1923 July 1; 1940 0 Jan: 16; i893 Ap.'94&0o.'97 Va.r.'99 to1908 Moh. 1, 1899 Feb. 1, 1937 Sept. 1, 1897 June 1, 1900 1904-6-7 June 1, 1920 Apr:· 1,· .i893 July 1, 1896 July 1, 1924, S~t. lr 1913 J yl, 96-'98 Dec, 1, 1911 Feb: "ii;: "i893 Jan. 1, 1901 Oot. 1, 1920 May 1, 1939 Oct. 1, 1899 Apr. 1, 1939 Nov.1,'93to'97 Fltchbura . ..,;Owns from Boston Mass., to Fitchburg, Mass., 50 t0RGANIZATION, CONTRACTS, ETC.-This was formerly the Evansville & Oawtordsville RR. It belono-s to the Mackey sy~tem, and is operated miles; Greenff'eld to Troy, N. Y. 85 miles; Vermont to Rotterdam JuncIn close connect10n with the :Eouisville Evan1>ville & St. Louis and the Peoria. Decatur & Evansville-which see. In 1890 a ten-year traffic contract was made with the Chicago & Eastern Illinois for a through route between Chicago and Evansville, and in December, 1892, a contract was entered into for the operation of both companies a s one line, as far as traffic is concerned. (V. 55, p. 995.) 8TOCK.-An increase of stock from $3,000,000 to $6,000,000 was authorized by stockholders in October, 1892, but no further action 'taken. (V. 55, p. 462, 679.) DIVIDENDS since 1880.-[n 1881, 412 per cent; in 1884, 5; in 1885, 3; in 1886, 4; from 1887 to 1890, inclusive, 5 per cent per annum; in 1891, 7; in 1892, January, 2; April, 5 per cent in general mortgage bonds; October, 5 per cent in cash (sem1•annual); in 1893, January, 2-½I per cent, (dividends changed to quarterly.) BONDS, GUARANTIES. ETC.-Evansville& Richmond bonds for $1,400,-000 and certain Evansville & Indianapolis bonds are guaranteed. See those companies. There are also $30,000 Evansville & Terre Haute 4'0nsols, due July 1, 19LO, and car trust notes July 1, 1892. $689,217. The Ev. & T. Haute general mortgage covers 182 miles of road. owned :and $3,500,000 of stoclr of proprietary roads, having a mileage of 277 miles. Of the authorized issue $3,855,000 are held in trust to retire the prior bonds a.t maturity, the mortgage providing that the prior liens em.all be paid and not extended. A sufficient amount is also held to etire the car trust notes; $1,000,000 of the bonds were sold to provide or clcrnble-tracking, etc., in preparation for the Chicago Exposition. EARNINGB.-From July 1 to October 31, 1892 (4 months), gross earnings were $480,714, against $460,840 in 1891; net, 276,545. AmmAL REPORT.-Fiscal year enlls June 30. Annual meeting is held at Evansville the third Monday in October. Last report in V. 55. p. 854. 1891-92. 1890-91. 1889-90. Year ending June 30165 161 159 ~tal miles operated.......... . $1,225,413 $1,102,629 Gl'QSs earnings ................. $970,551 607,777 494,685 !Net earnings ................... 473,457 100,233 44,056 tOtller inoome................... 51,855 ---- Total net income . .... _.. . .. $525,312 Interest on debt, eto ........... $204,300 lDividends ...................... 150,000 $538,741 $221,175 165,000 ---- $708,010 $231,346 180,000 tion, 61 miles; Boston Barre & Gardner Railroad, Worcester to Winchendon, 36 miles; South Ashblll'nham, Mass., to Bellows Falls, V.t·t 54 miles; branches, 71 miles; Monadnock Railroad, 16 miles; tomi owned, 372 miles; leases and operates-Vermont & Massachusetts Railroad, Fitchburg (which see) to Greenfield, 56 miles; other, 8 miles; total leased, 64 miles; total June 30, 1892, 436 miles, of which 155 miles double track. ORGANIZATION-In 1887 the Fitchburg RR. Co. consolidated with the Troy & Greenfield and purchased the Hoosac Tunnel RR. and Troy & Boston ; on October 1, 1890, it consolidated with the Cheshire Railroad and on October 1, 1892, with the Bosron Hoosac Tunnel & W., the Troy Saratoga & North. and the Monadnock. STOCK-The State of Massachusetts owns $5,000,000 of the common stock. The prererred stock is entitled to 4 per cent dividends, then common and preferred receive dividends share and share alike. On October 1, 1892, the preferred stock was incrt>ased from $16,498,000 to $17,000,000 by consolidation referred to above. DIVIDENDS.-On :preferred stock: In 1887, 2 per cent; in 1888, 2; in 1889, Jill; in 1890, 2 p. c.; in 1891, 3¼ p. c.; in 1892, Jan., 2 p. c.; July, 2; in 1893, January, 2 per cent. .BoNDs.-There a;re also $48,000 Monadnock Railroad 5 per cent bonds due Jul:v 1, 1897; and a. 414 per cent mortgage note of the H, T. D. & E. Co. for $500,000 due April 5, 1893. On Dot. 1, 1892, thare wer£1 outstandin15: loans and bills pa,yable amounting to !f,500,000 (against f650,00u July 1, 1892). For Vermont & Mass. guaranteed securitiessee that company. To pay $1,400,000 Boston Hoosac TunnPl & WPSt"rn bonds sub.ieot to call upon 60 days' notice and $391,000 Boston Barre & Gardner bonds du .. April 1, 1893~ thEI directors were authorized in September, 1892, to issue bonds for ;i,1,791,000. V. 55, p. 503, 544. LATEST EARNINGS.-From July 1 to Sept. 30, 1892 (3 months), grosa earnings were $2,008,388, against $1,872,497 in 18tn; net, $645,9M, against $630,0l4; other income, $14,309, against $16,190; interest, taxes and rentals, $354,845, against $355,119; balance, surplus, $305,428, against $291,085. ANNUAL REPORT.-Fisoal year ends June 30. The annual report for 1891-92 was in CHRONICLE v. 55, p. 501. 1890-91. 1891-92. 1889-90. 1888-89. Year ending June 30. 436 436 369 369 Total miles operated..... Total gross earnings ..... $5,747,985 $6,259,533 $6,851,002 $7,348,805 Op. expenses and taxes .. 4,390,792 4,525,605 5,133,465 5,336,778 $411,346 $386,175 $354,300 $296,664 $152,566 1Ba1anuEi, surpl11S ............. . . $171,012 -(V. 5~ p. 672; V. 54, p. 119, 587, 643; V. 55, p. 462,639,679, 854, Netearnings ........•• $1,357,193 $1,733,928 $1,717,537 $2,012,027 9915.:t Evansville Terre Haute & Chlc:f1o.-Owns from Terre Haute Rentals paid.............. $281,280 $271,980 $274,980 $260,980 945,271 869,068 799,153 762,806 Interest on debt.......... 18,793 20,216 8,264 27,875 ~a~r~~ ~h~a8:i~t~~s Other interest............ o/tcLJe~s 649,238 562,749 261,835 -Xerre Haute; also leases the Indiana Block Coal Road, 15 miles. On Dividends ......... . ....... _ _ _ _ for made was Illinois Eastern & April 30, l881e, a lease to the Chicago 1J99 years; terms1 $75,000 per annum and the assumption by the Chi- Balance, surplus......... $285,232 $392,696 def. $9,475 $137,745 -ca.go & Ea.stern Illinois of all rentals and taxes paid by Evansville Terre -(V. f>3, p. 256,405,714; V. 54, p. 243,762; V. 55, p. 256,419,501 Haute & Chicago. Majority of the stock is owned by Chicago & Eastern 508, 544, 765, 806.) Dlinois, which bas endorsed the first and second mortgage bonds with Flint & Pere l.liarquette.-(SeeMap.J-Ownsfrom Monroe,Mich., its guaranty of intel:est. (V. 48, p. 827.) to Ludington, Mich., 253 miles; 11 branches to East Saginaw, Fostoria, Pall Brook Kailway.-Owns from Corning, N. Y., to Antrim, etc., 135 miles; Port Huron to East Saginaw, 90 miles; Port Huron to :Pa., 53 miles; branch to Harrison Valley, Pa., 33 miles; Fall Brook Sand Beach (3 feet), 70 miles; Palm to Port Austin (3 feet), 35 miles; -0ranch, 7 miles; leases Syracmse Geneva & Corning Ry., Corning, N. Y., Port Huron to Altmont (3 feet), 34 miles; total operated, 629 miles, of 1t0 Geneva, N. Y., 58 miles, and branch, 6 miles; and Pine Creek Ry., which 139 are 3 feet gauge. :.Stokesdale Junction to Newberry June., Pa., 75 miles; total, 232 miles. ORGANIZATION, SECURITIES, ETc.-Sold August 18, 1880, under the HISTORY, ETc.-Formerly Corning Cowanesque & Antrim . Name consolidated mortgage, and reorganized. In 1889 consolidated with cer,eha,nged July 1, 189i, and stock increased to $5,000,000. See V. 55, p. tain branches (see V. 48, p. 222) and absorbed Port Huron & Northwest~L. Dividends paid quarterly, March 31, etc. The coal line of Phila. ern (see V. 48, p. 260). The consolidated mortgage of 1939 is a, first .& :&lading and New York Central is over the road of this company, mortgage on 11414 miles of road. Trui:;tee Central Trust Co. On Jan.1, •whl<ch jointly with said compa nies guarantees the bonds of the Pine 1892, there were outstanding bills ;payable for $478,677. In Febru4Creek Ra.ilroad Company. ary, 1892, $150,000 Port Huron Division 5s were issued, and in May LATEST EARNINGS.-Jan. 1 to Sept. 30, 1892 (9 months), gross, on 93 $300,000 first con.sols. fll.iles, $553,711, agst. $565,571 in 1891; net, $202,223, agst. $168,656. DIVIDENDS.-On preferred stock since 1885-In 1886, 412; in 1887, 519; In year ending June 30, 1891, gross earning s of the C. C. & A. were ln 1888, 7 and 5 extra; in 1889, 612; in 1890, 6 per cent; in 1891, 3½1; :$72~,285; net, :f!193,209; surplus to lessee, $33,247. George J. Magee, in 1892, Feb., 2½; Aug., 2 per cent; in 1893, Feb., 2 per cent. 21.) p. 55, V. 469; p. 54, V. 568; p. 53, (V. Y. N. Cornmg, President. LATEST EARNINGS.-From Jan. 1 to Nov. 30, 1892 (11 months), gross F'ar1nvllle & Powbatan.-Owns from Bermuda Hundred, Va., $2,621,994, a g ainst $2,646,259 in 1891; net, $778,485, against $776,812; ;to Farmville, 89 miles, and branches to Eppes' Falls, etc., 8 miles; total 97 ,miles. Completed Ma rch 3, 1890. Stock authorized: Common, $500,- inte rest, r entals, , to., $556,959, against $531,028; balance, surplus, -000; preferred, $500,000; p a r, $100. From January 1 to March 31, $221,526, against $245,784. ANNUAL REPORT.-Fiecal year ends Dec. 31. Report for 1891 in v. 1892 (3 months), ~oss earumgs, $18,729, against $16,055 in 1 9 1; n et, :$655, agst. loss of $1,745. In yea r 1890-91 gross,$93,018; n et,$17,639. 54, p. 798. Port Huron Divisiou is included in 1890 and 1891. 1891. 1890. 1889. 1888. Findlay Fort Wayne & Western.-Owns roa.d completed in $2,923,575 $2,900,624 1892 from Findlay, 0., to ~aviland, 4.9 miles , a nd partially constructed Total gross earn'gs .. $2,403,074 $2,370,133 2,042,409 2,039,411 ito Fort Wayne, Ind., 32 miles. On Janu a ry 24 , 1893, stockholders v ote Oper'ng exp. &ta xes 1,646,424 1,623,297 -on a proposition t o ext end the road from 1:<'indlay t o Ne w London, $881,166 $861,212 N et earnings... . . $756,650 $746,836 Huron County , 66 miles, to increase capital stock from $ 1,440,000 t o 581,771 558,104 366,421 332,939 3,090,000, a nd t o c rea t e on proposed east erly ext en sion $ 1,650,000 Inter est on de bt. . ... (5) 317,100 (4) 253,680 380,520 ·:first mortgage 5 per cent gold l.Jonds. Successor to the American Dividends ........ . . .-449,470 .Midland sold in foreclosure in June, 1 890. Trust ees of mortga geare sur. $5,962 sr. $25,76~ def. $105 Washington Trust Co. of New York a nd Allen Zolla r s of Ft. Wa yne. Bal. for the year .... df. $25,759 -(V. 52f. 350,428,760; V. 5 3, D- 968; V. 5-!,p.328, 367,447,798,889. Stock authorized, $18 ,000 p er 1uile. ;~~e::~· ~~~8&l!ke https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~~:::i~ro~a::~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis flint ~ P0rn Mrrrqu0tt0 ·B urke's Falls INVESTORS' SUPPLEMENT. [VOL, LV~ Subscribers will cower a great favor by giving iuunediate i;iotice of any error discovered in these Table•• I I RAILROADS. Miles Date Size, or For explanation of column headings, &c., see notes of of Par on first page of tables. Road. Bonds Value. Florida Oent1·at cl: Pen.-lst M. $5,226 p. m, gold.c* 2d M. (1st on ext., 92 nnles) $5,226 perm., gold.c* 575 667 777 .Fonda Johnstown cl: Glove1·sville-lstM.,s.f.,notd.n.c* Cons. M. for $500,000 ($300,000 res'd for 1st M.)c Fort Wayne cl: Jackson-Common stock ............. . 10 26 98 98 454 15 15 146 ~?iA~~ 1c~~J:ig~ ,~~~~~~~·/e~~iiiai "Jioiids: :~~ Pref. stock (8 p. ,c.), 512 p. c. rental Lake Shore . . . Fort Worth cl: Denv. OUy-lst M., g., $18,000 p. m.c* Equipment bonds ................................. c Pan Handle RR. 1st mor_tiage ................... . Fort W01·th cl: Rio Gt·.-lst ro.., gold, $20,000 p. m.c* Galveston Harrisb. cl: S. .Antonio-lstM.,g.,landgr.e* 2d mortgage, Harrisb. and Houston to San A.nt.e* West. Div. lstM., g., SanA..toElPaso,636 m.&br.e* 2d mortgage (see remarks) .. .................. e* Galveston Hoitston <I: Hend. of 1882-lst M., guar .. c Georgetown cl: Western-lat mort&age, gold ........ c (hwrgia Carolina cl: N01·thern-lsliM., gold, guar.e* Georgia Oo.-Tr'stb'ds,s.f.,dr.at 110 aft..Tuly,92,g.e* Oeorgia Midland cl: Gulf-lat M., gold (See text)c&r* 2d mort., incomes, non-cum .• $7,500 per mile .... r 6eorgia Pacific-1st M., $10.000 p. m.,gold,int. gu. Con. 2d M. ($9,000 per mile) gold, interest !!'llar.e* Con. 2d income, non-cum. /$9,000 p. m.), ~ofd .. c&r Eq~p. mort., guar: R. & 1)., g., s.f.,_ subJ. to call; Eqmp, M., g., p. & 1. gua. R.&D.,subJectto call .. e Cartrusts .......................................... . 6eorgia Railroad cl: Banking Oo.-Stock ........... . Bonds, not mort. ($300,000 mature in 1022).c*&r Bonds, notmortgage .............................. r 225 671 671 50 36 268 100 100 566 566 566 --- Sto~k.s-Last Dividend. --------- ------- 5 g. .T. & .T. N. Y., Am. Exch. Bank. July 1, 1918 $3,000,000 do do 428,000 5 f;. J. & .r. .Tan. 1, 1930 1,800,000 5 g. .... do do .Tan. 1, 1943 40,000 7 .... do do 1870 100 &c. 7 .T. & .T. N. Y., St. Nich. Nat. Bk. Juiy. i",· .i900 300,000 6 1881 100 &c. 200,000 A.. & 0. do do A.pr. 1, 1921 436,132 100 2,:l91,416 512. i>."an. M: .&..S. N. Y., Farm."L.."& Tr. Co. seiii."1,··i892 100 6 g. .T. & D. N. Y., Union Tr. & Bost. Dec. 1, 1921 1,000 1881 8,176,000 1,000 5 M. & S. do do 160,000 1889 Mch. 1, 1899 1,000 225,000 .r. & .r. do do 5 July 1, 1929 2,923,30(), 5 g. .r. & .r. N. Y., H.B.Hollins & Co. July 1, 1928 1,000 1888 '71-'80 1,000 4,756,000 6 g. F. & A..IN.Y.,So.. Pae.Co.,&Bost. Feb. 1, 1910 1,000 1,000,000 7 J. & D. do do 1880 .Tune 1, 1905 1,000 13,418,000 5 g. M. & N. N.Y.,So.Pac.Co.,23B'rd May 1, 1931 1881 6 J. & J. . ........ . 6,354,000 1,000 1881 July 1, 1931 5 A. & O. N. Y., Mercantile Tr. Co. A.pr. 1, 1913 1,000 1883 2,000,000 200,000 5 g. M. & N. N. Y., Bk. of New York. 1887 1917 1,000 5,360,000 5 g. J. & J. N.Y.,Merc.Tr.Co.&Balt. July 1, 1929 1889 1,000 4,000,000 1887 July 1, 1937 g. 1,000 1,650,000 1893 July 1, 1926 4 g . .r. & J. . ........ . 1893 500 750,000 Jan. 1, 1926 6 g. .J. & J. .Jan. '93 coup. bought. Jan. 1, 1922 1,000 5,660,000 1882 5 g. A.. & 0. Apr.,'92, coup. last paid Oct. 1, 1928 5,002,338 1888 500 &c. 5 g. A.. & 0. 1888 500 &c. 5,042,338 Oct. 1, 1924' 5 g. F. & A. N. Y., Central Trust Co. Aug. 1, 1903 1,000 1,273,000 1889 do do 6 g. M. & N. 1891 1,000 540,000 May,'92-1906 .... M. & S. N. Y., Atlantic Tr. Co. 100 -1,200,000 11 per an Q.-J. N. Y.,A.m.Ex. B'k & Aug. Jan. 15,1893 6 .r. & .r. do do 2,300,000 77&80 1,000 '97,1910,1922 200,000 5 J. & J. do do 1887 1,000 .Tan. 1, 1922 ...Florida Centi·al & PeninsuJa.-Owns Jacksonville to Chatta· lloochee, 209 miles; Tallahassee to St. Marks, 21 miles; Fernandina to Ta.mpa, 241 miles; Waldo to Cedar Keys, 72 miles; Wildwood to Or- lando, 53 miles; Hart's Road to Jacksonville, 25 miles; .Tack om·ille Belt Line Railroad, 3 miles; other, 42 miles; total, 667 miles. Also has operated since .Tan. 1, 1892, under agreement, separately, the East Florida & Atlantic RR., Orlando to Oviedo, 16 miles. See also below. HISTORY, LE.ASES,ETc.-TheFlorida Railway & Navigation Company's property was sold in foreclosure in 1888 and reorgauized by plan in v. 46, p. 280. Several extensions have siuce been completed, and in September 1, 1892, leased for 99 years the South Bound RR., extending from Savannah, Ga., to Columbia, S. C., 136 mi.les. The FloridaCentralhasunderconstruction and. will complete by September, 1893, a line from Hart's Roaus to Savannah, 110 miles, to connect the eystems, and until that time the roads will be operated. separately. f!ee. V. 55, p. 177, 215, 503. STOCK.-Comrnon stock is $20,000,000, par $100; 1st preferred, 5 p. c. ,cumulative, $1,582,000; 2d preferred, 5 p. c. non-cumulative, $4,500,000. In January, 1893, the 1st preferred was about to be ex.changed dollar for dollar for new consol. 5s and the 2d preferred for new pre• ferred 4 per cents, cumulative. BoNDs.-Car trusts 7s, June 13, 1892, $177,698, due in fl ve years. In December, 1892, a consolidated 5 per cent mortgage for $7,800,000 was authorized, sufficient bonds bein~ reserved to retire first preferred stock and the prior bouds at maturity. Consolci for $1,800,000 were sold to build the Savannah extension. V. 55. p. 995, In July, 1892, interest at 5 per cent was guaranteed from Oct. 1, 1893, on $2,033,000 bonds of the South Bound RR. Co. See So. Bound. EARNINGS.-From July 1, 1892, to Sept. 30, 1892 (3 months), gross ~326,627 against $296,396 in 1890 91; net, $64,811, a!?ainst $47,636. In year ending June 30, 1892, gross earnings on 66v miles were $1,· ~45,655; net, $551,488; taxes, $64,500; interest, $163,714; balanee, .surplus, $323,272. In year 1890-91 gross on 596 miles, $1,341,879 ; net, $330,165. (V.55, p. 22,145,177,215,297,995, 1034, 1035.l .Fonda .Tohnsto,vn & GloversvUle.-Owns from Fonda, N. Y., to Northville, 26 miles. The stock is $300.000; par, $100. In November, 189:2, purchased by N. Y. Central parties, and extensions said to be projected. V. 55, p. 856, 1035. Loans and bills payable $62,196 July 1, 1892. In year ending June 30, 1892, ~ross earnings, $229,383; net, $88,257. (V. 53, p. 641; V. 55, p. 589, ts56, 1035.) Fo1·t Wayne & .Tackson.-Owns from Jackson, Mich., to Fort W.ayne, Ind. , 98 miles. On August 24, 1882, leased perpetually to Lake Shore & Michigan Southern at a rental of $126,027, equal to 512 ~ oont on the preferred stock, and after 1887 any net earnings over 8 pe,:-Mnt on preferred stock to be paid as dividends on common stock, ~ n.ot exceeding 2 per cent r, year. .Fort worth & Denver City,-( See Map union, Pacific Denver & 6ul,f)-Owns from Fort Worth, Texas, to Texas State line, 454 miles. and operates Pan Handle RR., 15 miles. The Union Pac. Denver & Gulf owns $7,766,000 of this company's $9,375,000 stock; par $100. See abstract of mortgage, V. 45, p. 440 (trustee, Mercantile Trust Co. of New York.) The stock of the Pan Handle RR. is owned, and its bonds <except $7,000) are held by trustee of U. P. Den. & Gulf cons. mortg. . In year ending December 31, 1891, gross earnings were $2,014,720; net, $592,946; ftxed charges, $-!97,030; balance, $95,916. [n 1890, 81'0SS, $2,044,562; net, $705,359. IV. 51, p. 875; V. 52, D 23 7, 428.) Fort Worth & Bio G1·ande.-In operation Fort Worth, Tex., to !Brownwood, about 146 miles; completed in August, 1891. The line is rurther p1·ojected to iron fields in Llano Couuty. See V. 52, p. 81, ~ 42. Mortga~e trustee is Central Trust Company, New Yorlr. Stock .authorized, $;:s,500,000; outstanding, $2,923,300; par, $100. Fram January 1 to Sept. 30, 1892 (0 months) . gross earnings wer('. 255,297, against $192,108 in 1891; net, $58,762, again t $57,614. In 1890, road being under construction, gross earnings were $19-!,638; - net, $91,238. In 1891 gross, $330,075; net, $130,879; intere t, $137,-084. (V. 51,p. E69, 680; V. 52, p. 81,351, 642.) Galveston Harris bur~ & San Antonio,-( See Map of Southern lacific.J-Owns from Houswn, Tex., to Sau Antonio, Tex., 217 miles; La.Grange Extension, 28 miles; branch, 8 miles; leases 12 miles; total, ~66miles. Western Extension, San Antonio to Rio Grande River, 636 miles; Eagle Pass Branch, 35 miles. Grand total, 937 miles. ORG.il.'IZA.TION, STOCK, ETc.-Operated by the Southern Pacific Company, which owns all but $580, :H2 of the $27,093,012 stock (par, $100). BoNDs.-First mortgage covers 256 miles of road and 1,076,331 acres -0f land valued at about $1,467,000. It has a sinking fund of 1 per cent, but it is optional with bondholders to surrenuer their bonds if drawn. 'The Western Division second mortgage Gs are held by the Southern Pacific Company ancl by large holders of Southern Paci:fl.c securities, who have agreed not to collect interest after July 1, 1889, unless currently .earned. The tlxed interest charge is thus reduced annually by $381,240. There is also $101,719 Texas scho~l debt ontstandin13:. Floating liabilities Jan. 1, 1802, $2,680,701; floatmg assets, $660,0:.,4. EARNINGS.-From January 1 to Nov. 30, 1892 (11 months), ~oss $4 171,639, against $!,130,584 in 1891; net, $1,007,24!, ag t. $1,110,~59 in 1891. In 1891 gro;,,s earnings $4,517,589; net, $l,247,369; surplus over fixed charges, $9-!,683. tV. 54, r. 800; V. 55, y. 100, 146.) ,• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1:~~~'!:: 1888 $1,000 1890 1,000 1893 1,000 307 1:::: .... .... INTEREST OR DIVIDENDS. per When Wht""P Pa_"able, and by 0 ~~~g Rate Cent. Payable \I. nom. i f if see.text: m II veston, Galveston Houston & Henderson of 18 82.-0wns from GalTexas, to Houston, Texas, 50 miles. The road was sold in fore- closure December 1, 1871, and again August 1, 1882. Control is vested in the Mo.Kan. & Tex. Leased for 99 years to the International The lessee it is said pays interest and turns over to this company all surplus earnings over expenses, taxes, etc. Stock, $1,000,000; par, $100. In 1891 gross earnings were $-149,992; net, $63,621; taxes, $10,629. Georgia Carolina & Northern,-Owns road in operation from Monroe. N. c. to Atlanta (Inman Park), Ga., 268 miles; completed to Atlanta in April, 1892. The line is part of the "seaboard" system, and the bonds are guaranteed (by indorsement on each bond) by the lessees, the Seaboard & Roanoke and Raleigh & Gaston RR. Cos. They cannot be redeemed before maturity. The Mercantile Trust & Safe Deposit Company of Baltimore is trustee of the mortga"'e; see abstract f same in V. 49, p. 239. Stock authorized, $1,000,000; outstanding aud paid in, $527,126 (par $100), mostly owned by the lessees. Loans and bills payable, July 1, 1892, $465,009. From J anuary 1 to October 31, 1892, gross earnings were $206,162, against $112,736 in 1891. R. F. Hoke, Athens, Ga., President.-(V. 54, p. 889.) Georgia Company,-This company was formed in 1887 to control the Georgia Central Railroad & Banking Company, of whose stock it owns $4,000,000, all pledged to secure its trust bonds. Its own stock o! $12,000,000 ia all owned by Richmond & West Point Terminal, which has deposited it, together with $3,447,000 of collateral trust bonds, as part security for its own collateral trust of 1889. In November, 1892, the Richmond Terminal receiver brought suit to set aside eontract by which the securities of this company were purchased. See V. 55, p. 938. Georgia lUidland & Gulf,-Owns from Columbus, Ga., to McDonough, 100 miles. Completed in September, 1887. Operates Columbus Southern, Columbus to Albany, Ga., 88 miles. Incomes, 6 per cent non-cumulative, $105,000. Stock authorized, $2,000,000; outstanding, $1,245,000; par. $100. Car trusts, $53,000; due $818 monthly. In 1892 practically all the old 6s were exchanged for new 4s and incomes. Bondholders accepted $20 for July, 1892, interest, and in January, 1893, no interest was paid pending delivery of the new bonds. For extensions additional 1st 4s may be issued at $15,000 per mile. In year ending June 30, 1891, gross earnin"'s were $212,222; net over expenses and taxes, $76,434 ; interest, $89,460. (V. 56, p. 42.) Georgia Pacific.-( See Map of Richmond <I: West Point Tet-minal.)Atlanta,, Ga., to Greenville, Miss., 458 miles; Woodlawn to Bessemer, A.la., 19 miles: small branches, 18 miles; Deer Creek branch (three-feet gauge), 22 miles; other lines, 48 miles; total, 566 miles. LEASE, ETc.-Leased to the Richmond & Danville for 20 years from January 1, 1889, (with privilege of renewal) : rental net earnings, the Richmond & Danville agreein"' to make up any deficiency in these to meet fixed charges, all such a:ivances, however, to be a preferred charge next ahead of uhe income bonds (see V. 47, p. 744). In .Tune, 1892, the Richmond & Danville and the Richmond Terlninal were placed in r eceivers' hands. Interest due Oct. I, 1892, on the 2d mortgage was not paill, and January, 1893, coupons on first mortgage were bought by W. P. Clyde and G. F. Stone, who claim the road's income will soon suffice to pay tlrst mortgage interest. (V. 56, p. 43.) STOCK.-Is $8,555,000 (par $100), and $4,378,432 of it is held by th6 Richmond & West Point Term. Co., which owns also $1,397,621 incom0 5s of 1888, and has deposited them, as well as the stock, as security for its collateral trust of 1889. BONDS.-Tlle second consolidated mortgage (trustee, Central Trust Company of New York) secures $5,400,000 second mortgage bonds, and also, subject to the e, $5,400,000 second mortgage non-cumulative incomes, both issued at $9,000 per mile. The equipment mortizage bonds of 1889 and 1891 are payable by a sinking fund and are guaranteed as to principal and int. by ~ndorsement on bonds by Rich.& Dan. There are also $109,000 2d mort. mcomes. As to default, see above. EARNINGs.-In year ending .Tune 30, 1891, gross were $1,889,315; operating expenses, $1,902,132; deficit, $12,816; charges, $867,580; improvements ancl betterment, $426,992; extraordinary expenditures for repairs chargeable to previous years, $202,141; total deficit, $1,500,531, In 1888·89 gross, $1,330,698; net, !t\147,244. (V. 53, p. 880.) Georgia Railroad & Bankino- Company,-Owns from Augusta, Ga., to Atlanta, Ga., 171 miles; branches to Washington · and A.thens, 58 mile ; Macon & Augusta RR. (proprietary road), Camack, Ga., to Macon, Ga., 74 miles; trackage, 4 miles; total, 307 miles. ORGANIZATION.-Owns also one-half the stock of the Western Railway of Alabama (the Central Railroad of Geor~ia owning the other half), and has a one-fifth interest in the Port Royal & A.u"'usta and a thirtyfive one-hundredths interest in the Atlanta & West 'r>oint (which see). This company, besides the railroad property indicated above, has a banking department. In April, 1881, it leased its own railroad (307 miles) and its interest in the other railroad companies for 99 years to W. M. Wadley and assoeiates, for the Central of Georgia and the Louisville & Nashville railroads, at $600,000 per year. DcvrnENDS since 1880-In 188L, 9½ per cent; in 1882, 1014; from l883 to 1887, 10; in 1888, 10~; from 1889 to January, 1893, both inelusive, at rate of 11 per cent per annum (2~ per cent quarterly). & Great Northern and bonds guaranteed by that company. .JANUARY, 18£-3.] RAILROAD STOCKS AND BONDS. 63 Subscribers "W"ill conCer a great Cavor by giving inun.ediate notice ot' any error discovered in these Tables. RAILROADS. INTEREST OR DIVIDENDS. Bonds-Prinof Miles Date Size, or .Amount pal,WhenDue dFor explanation of column headings, &o., see notes of of Vpalarue. Outstandin<> Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds ...., Cent. Payable Whom. Dividend. - - - - - - - - - - - - - - - - - - - - - 1 ·- - - - - ----1------1---- - - - -----------1-------- . 6eorgia Southe1-n cf: Florida.-Stock ... __ ... ___ ... _.. 1st mortgage ($12,000 p. m.), gold .............. *c 285 35 •Gettrbm·g cf: Harrisburg- ............ .............. ls mortgage for $565,000 .... .. ............ . ..... ·--· 15 •Gouvernew· cf: Os·u :egatchie-lst M., gold, guar .... c 6rand R~ds cf: Indiana-Stock ......... . ....... . c* 1st M., and ant, g., s. f. (1a!:ar. by Pa. RR.) .. c* 335 lstM.,g.,($5 5,000were Ian grant s.f.not drn).c* 335 1st mort., extended, gold, f1ar. by Pa. RR ..... c* 335 2nd mortgage, redeem. at 05 till Aug. 1, 1894.c* 367 General mortgage for $13,000,000 ............ c &r 367 Musk. G. R. & Ind. RR. 1st M., gold, traf. guar.c* 37 Gr. Tower cf: Oape Girardeau-Stk. $500,000 auth .. .... 1st mortgage....................................... 29 •Grand Towe1· cf: Oa1·bondale-Stock .................. Great Northe1-n-Stock, pref. (no com. stock issued) ...... Collat. 'ft. mort., red. at 100 after Sept.,'93,gold. ·--St. Paul Minn. &Man.-Stock (rental 6 p. c. in old) St. P. Min.&Man. lstM.l.gr.,s.f.,g.,dr'natl 5.c* 620 2d morti:age, gold (does not-0over lands) ... .. c* 620 Dakota xtension 1st mort. ($12,000 p.m.),gold 1,212 Consol.mort., 1. gr. ($13,344.000 are 6s), gold. c&r 2,467 Montana Exten. lstM. ($25,000p. m.),gold.c*&r 411 Pa-0i:fic Extension M. for £6,000,000, gold.. c*&r 802 Minneap. Un.RR.lstM.,gold,gu.($650,000are 5s) East o'f Minn. 1st M. ($50,000 p. m.), g., gu.. c*&r 70 Montana Cen. 1st M., g. ($6,000,000 are 6sigu.c&r 261 85 ---· 3 ---- iss1 isoi 1892 ..... 1869 1869 1891 1884 1884 1886 . .... 1889 ------1892 ---1879 1879 1880 1883 1887 1890 1882 1888 1887 $100 $4,275,000 1,000 3,420,000 50 600,000 (1) 1,000 1,000 300,000 100 4,986,081 1,000 } 4,036,000 1,000 1,000 1,339,000 1,000 3,000,000 1,000 4,625,000 1,000 750,000 100 350,000 1,000 350,000 50,000 "ioo 20,000,000 1,000 15,000,000 100 20,000,000 100 &c. 2,769,100 1,000 8,000,000 1,000 5,676,000 1,000 29,615,000 1,000&c 7,616,000 £100&0 £3,000,000 $1,000 $2,800,000 1,000&c 4,700,000 1,000&c 8,000,000 C'OlIPANY'S REPORT.-ln year ending March 31, 1892, rental, etc. was $600,095; dividend (No. 6) from bank, $50,000; total, $650,095; .deduct interest, etc., $179,516; dividends paid (11 per cent), $462,000; balance, $8,570. Net earnings of bank for year were $65,380, and ,t otal bank surplus March 31, 1892, was $203,067. EARNINGS OF RAILROADS.-From July 1, 1892, to Nov, 30, 1892 (5 months), ~oss earnings of the railroads were $662,167, against $744,087 m 1891; net, $223,868, against $200,986. In year il.891-92 gross earnings $1,585,508; net, $313,642; total, not including ,interest and dividends received, $375,326. In 1890-91 gross, $1,891,•692; net, $658,475; other income, $60,619. Deficit to lessees on leaso was in 1888-89, $21,066; in 1889-90, $33,959. Profit in 1890-91 was :$118,679. Deficit in 1891-92, $249,390. Due lessees June 30, 1891, :$600,976. (V. 53, p. 289; V. 55, p. 461.) Geo:rcria Southern & Florida,-Owns from Macon, Ga., to Palatka, Fla., 285 miles, and operates the Macon & Birmingham !(which see), 95 miles. Completed in January, 1890. Built by the Macon Construction Company. In 1891 Mr. Willis B. Sparks, President of this company, was appointed its receiver, and also receiver of the Macon Construction Company. The Jan., 1892, coupons were paid in May 1, 1892 and the July coupon went to default. (See V. 52, p. 796; V, 53, p. 95.) In October, 1892, an application to issue receiver's oertifl.oates was refused and foreclosure proceedings instituted. V. 55, p. 503, 679. A. bondholders' committee has been appointed (see V. 55, p. 722, 856), and a majority of the bonds has been deposited with the t rustee of mortgage, the Mercantile Trust & Deposit Co, of Baltimore.. ,<V. 55, p. 938.) Stock is $4,275,000; par, $100. From July 1, 1892, to Nov. 30, 1892 (5 months), gross earnings were -f,324,325, against $326,505 in 1891; net, $91,389, against $127,546. In the year ending June 30, 1892, gross earnings were$768,447; net, :$243,661. In the year 1890-91, $773,863; net, $240,501; surplus abo,e charges, $58,129.-(V. 53, p. 95,289; V. 55, p. 503,679,722,856; -v. 55, p. 938. Gouverneur & Oswee;atchle.-0wns from Gouverneur to Ed.wards, N. Y., 15 miles. Stock, $350,000. Bonds guaranteed, principal .and interest, by N. Y. Central & Hudson River RR. See V . 55, p. 810. -Grand Rapids & Indiana.-( See Map of Pennsylvania RR.JOwns from Fort Wayne, Ind., to Mackinaw City, 367 miles; Manistee Branch, 25; other branches, 40 miles; total owned, 432 miles; leases, and operates Cincinnati Richmond & Fort Wayne RR., 86 miles; Traverse City RR., 26 miles; Muskegon Grand Rapids & Indiana RR., 37 miles-149·miles, Total, 581 miles. HISTORY AND STOCK.-Company formed in 1854. It is operated in the interest of the Pennsylvania Railroad Company, which holds the right to vote a majority of the stock until July 1, 1941. .A.s to default Sept. 1, 1892, see below. BoNDs.-Of the original $5,375,000 1st mortgage 7s $3,934,000 were .guaranteed by the Penn. RR. and $4,439,000 were land grant bonds. In 1891 the company ao-reed to extend all its 7 per cent first mort. ·bonds at 412 per cent for fifty years from July 1. The extended bonds .aroendorsed with the guaranty of the Pennsylvania Railroad Company ito purchase the coupons as they mature, and the bond itself at maturity, 1if not paid by the Grand Rapids company. The extended bonds •have no lien on the land grant. Pennsylvania RR. on Dec. 1, 1892, owned all the 2d mortgage bonds ,except $25,000, which, with $880,000 of the outstanding general mort,gage 5s, were held by the company itself. There is a real estate mort;. •. r.a,ge for $54,983. On Dec. 1, 1892, bills payable were $300,000, and .coupons held by Pennsylvania RR. Co. $456,710. Default was made Sept. 1, 1892, on general mor~~~ge coupons. It was hoped the default would be temporary, but some aujustment of the debt may have to be made. See V. 55, p, 373. The rental of the Muskegon & Grand Rapids it is provided shalle9.ual interest on the bonds. .A.s to guaranty of interest on Cincinnati R10h.mord & Fort Wayne RR. and Traverse City RR. bonds, see those co.'s. LANDS.-The company has a land grant and sold in lB91 21,422 acres rfor $191,094, and certain timber rights .for $161,500. The lands unsold on J an.- 1, 1 92, were 308,422 acres. The assets were $1,229,771 bills •Teceivable, etc., and $779,799 cash. EARNING .-From January 1 to Nov. 30, 1892 (11 months), gross ~arnings of the whole system were$2,961,140, agst. $2,817,725 in 1891; .net, $863,877, against $810,017. ANNUAL REPORT-Report for 1891 was in CHRONICLE v. 54, p. 885, •showing results :is follows, the rentals and miscellaneous in 1891 in•cluding $148,140 !or betterments and $29,372 for extending bonds. In the year 1891 the Penn sylvania RR. Co. under its guaranty of first mortgage purchased $275,380 coupons thereon. See V. 54, p. 408. 1888. 1889. 1890. 1891. Miles operated........ 409 4.08 428 432 Gross income.......... $2,232, 788 $2,291,166 $2,602,415 $2,400,414 Netoverexp's &taxes $704,191 $766,714 $859,382 $694,788 Interest on bonds..... $719,428 $737,425 $739,700 $751,929 ,[nt. on floating debt.. 47,443 54,553 58,630 52,186 Rentals and miscel... 17,138 3,168 30,760 208,431 .6.g. ---· 5 5 g. I .7.g. J. 7 g. A.. ~½g. J. M. M. 5 5 g. J. . ... .... 5 ---per an. 4 g. 6 per an. 7 g. 6 g. 6 412 & g. 4 g. 4 g. 5 & 6 g. 5 g. 5 & 6 g. i· & & & & & & https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis June 1, 1942 oci: ·1; ·i899 J. N. Y., Winslow, L. & Co. do do J. do do N. do do S. Mar.'92, coup. last paid J. N. Y., Winslow, L. & Co. o.l 4:_:_:F. s. M.& Q.-F. J. & J. A. & 0. M. & N. J. & J. J. & D. J. & J. J. & J. A. & J. & J. Oct. Ju,ly Nov. Sept. July 1, 1, 1, 1, 1, 1899 1941 1899 1924 1926 ---------· . ............ Jan:· 1; "i919 N. Y. Office, 40 Wall St. do do do do New York and London. do do New York, 40 Wall St. do do do do N.Y.&Lon.,BaringBros New York, 40 Wall St. .Y.40Wall;Jlos.,Lee,H New York, 40 Wall St. Feii:;·is93 Sept. 1. 1902 Feb. 2, 1893 July 1, 1909 Oct. 1, 1909 Nov. 1, 1910 July 1, 1933 June 1, 1937 July 1, 1940 July 1, 1922 A.pr. 1, 1908 July 1, 1937 ----- J. & D. Or Great Northern.-(See Map.J-Operates under lease the St. Pau l Minneapolis & Manitoba Railroad, operating 2,872 miles of road. Also owns the entire stock of the following lines, but keeps their earnjngs separate, their income appearing in tJie statement of earnings below only as revenue from stocks aud bonds owned or as other receipts : The Willmar & Sioux Falls, Willmar, Minn., to Sioux Falls, Dak., 147 miles; the Duluth Watertown & Pacific, Watertown, Dak., to Huron, Dak., 70 miles; the Minneapolis Union, 2·5 miles; the Eastern of Minnesota, 72 miles; the Montana Central, Great Falls, Mon., to Butte, Mon., 253 miles. including branches; total, 545 miles. Total operated July 1, 1892, 3,417 miles. Extension to Pacific Coast, 802 miles, will be opened early in 1893. Company is also interested in the Seattle & Montana, Fair Haven & Southern and New Westminster South, RE, cos., operating Seattle. Wash., to S. Westminster. 144 miles, and projected to Portland, Ore. HISTORY, STOCK, LEASES, ETC,-This corporation in February, 1890 leased the St. Paul Minneapolis & Manitoba for 999 years, assuming it& funded debt and....P."'llaranteeing 6 per cent per annum in gold on its $20,000,000 stock. The Great N orthern's autbo:i,i:l;ed capital is $40,000,000, of which $20,000,000 is preferred 6 per cent non-cumulative, and this only ls at present outstanding. The Manitoba stockholders were o tfered the privilege of taking it at 50, the remaining 50 J?er cent being pa.id by a transfer to the Great Northern of all the securities owned by the Man. itoba. Company, amounting to over $22,000,000. The securities acquired by the Great Northern have been placed in trust to secure the unity of the system. (See V. 49, p. 435; V. 50, p. 205.) No increase of the preferred stock can be made without the consent of the holders of threefourths the preferred stock outstanding. LANDS.-St. P. Min. & Man. land grant was 3,848,000 acres. Land sales are applied to the redemption of 1st mort. bonds at or under 105. Sales for year ending June 30, 1892, were 124,584 acres, for $1 1022,768, and 283 town lots, for $14,989. The net a.mount due on lana contracts June 30, 1892, was $1,372,676; lands unsold, 1,512,217 acres, of which 118,000 acres in dispute with St. P. & Northern Pacific, and 543,602 acres in process of adjustment with Government. Minneapolis & St. Cloud grant was 476,864 acres; unsold July 1, 1892, 419,000; sales in 1891-92, 3,173 acres, for $16,082. DIVIDENDS, &c.-Dividends on Great Northern preferred stock: In November, 1890, 1 per cent; in 1891. 434; in 1892, 5 per cent. Dividends on Manitoba stock since 1880: In 1881, ::s per cent; 1n 1882, 9; in 1883, 8; in 1884, 712; in 1885 and since, 6 per cent yearly. PRICE OF PREFERRED STOCK.-ln 1890, 601il86: in 1891, 721il124¼; in 1892, 119@144; in 1893 to J an. 20, inclusive, 1351il135. BoNDs.-In 1892 the Great Northern issued its collateral trust bonds for $15,000,000, secured by deposit with the trustee of £3,000,000 Pacifl.o Extension 4s of the St. Paul Minn. & Manitoba Ry. Co. .A.ny or all of these bonds are subject to call for redemption at par and interest at any time after Sept. 1, 1893, upon three months' notice. V. 54, p. 525 . The St. Paul Min. & Man. consol. mort. of 1883 is for $50,000,000, of which $19,426,000 were reserved to pay prior liens. The mortgage on Montana Extension is for $25,000,000 for extensions, $15,000 per mile being allowed for second track. Abstract V. 45, p. 342 . The mortgage, for £6,000,000 on tlle Pac. extension (trustee of mortgage Central Trust Company of New York), provides for bonds at £6,000 per mile in Montana and £7,000 per mile west of Montana; £3,000,000 of this issue are pledged to secure the Great Northern's collateral trust bonds. Sec abstract of mortgage, V. 52, p. 82. The Eastern Railway of Minnesota runs from Hinckley northward 70 miles, to a point near Duluth; the mortgage covers equipment, terminals and elevator::s. Montana Central bond cover several roads. (See adv. CHRON. Dec. 12, 1891.) Tlle Manitoba guarantees both these issues, and the Great orthern assumes the guaranty. LATEST EAR~INGS.-From July 1, 1892, to Dec. 31, 1892 (6 months)• the estimated gross of the St. Paul Minneapolis & Manitoba on 3,392 miles were $8,081,847, against $7,402,402 on 3,030 miles in 1891, and for the entire Great Northern system $9,544,026, against $8,826,881 in 1891. ANNUAL REPORT.-Fiscal year ends June 30. Annual meetino- is held at St. Paul on the second Thursday in September. The annuai report for 1891-92 was published in the UHRO ' ICLE, V. 55, p. 975, 1013, 1037. The following tables shows (1) earnings of the lines leased from St. Paul Minneapolis & Manitoba Co., (2) the Gt. Northern income account. (1.) OPERATION"S ST. PAUL MINNEAPOLIS & :MANITOBA . Yem· enc/.. June 30. 1888-80. 1889-90. 1 890-\:.11. 1831-92. Passenger earng's. $1,869,865 $1,774,568 $1,876,960 $2,028,949 Freight earnings .. 6,075,637 6,915,167 7,628,011 9,720,486 Mail, exp., r'nts, &c. 641,064 684,265 776,743 854,693 --- Tot. grossearns.$8,586,566 Maint. of way, &c .. $1,133,372 Maint. of cars . . . . . . 4.24,426 Motive power...... 1,530,231 Transportation ..... 1,197,413 General... ... ....... 466,033 Taxes............... 248,591 Total. .••..... :..... $784,009 _$ 795,146 $829,090 $1,012,546 Total expenses. $5,000,066 i£alance ............. def.$79,817 def.$28,433 sur.$30,292 df.$317,758 Net earnings••··· ·· $3,586,499 -(V. 50, p. '799; 52, p. 426,898; V. 54, p. 276, 8 8 6; V. 55, p. 373.) P.e.of exp. to earns. 58·23 v. Juiy . ._i;"i927 ··i9'2s· J ..&.. J. Jan. '92 coup:iast paid ,._ ·.;;·o.l PhiiadOiPhla J .. -~- ?· N.Y.,Gr:~-~~~-t:~tation. --- $9,374,000 $10,281,714 $12,604,128 $776,506 $1,248,001 $2,243,543 487,517 513,670 611,895 1,478,640 1,628 ,645 2,230,530 1,242,490 1,302,052 1,541,454 531,620 476,587 505,876 274,351 299,651 367,551 $-1, 791,124 $1,582,876 51·11 $5,463,606 $4,818,108 53·14 $7,500,849 $5,103,279 59·51 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE GREAT NORTHERN RAILWAY SYSTEM Great Northern Railway Reduce-a Sc<tJ.e : JA.NU.4.RY, RAILROAD STOCKS : AND BONDS. 1898.] Subscribers '1Vill confer a great Cavor by giving inuned.late notice of' any error discovered In these Tables. · Bonds-PrinclRAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or Amount Rate per When Where Payable, and by pal, When Due. Par of For explanation of column headings, &o., see notes of Stocks-Last Road. Bonds Value. Outstanding Cent. Payable on first page of tables. Whom. Dividend. ·- - - - - -Green Bay Winona & St. Paul-Common stock. . . ·- · Preferred stock (see text) ......................... Consolidated mortgage, gold ..................... o 2d mortgage, income, non-cumulative ............ o .... ··- · 22i i892 221 62 111 ·M:<$2<>,ooo: ni:i 22 Hancock & Oalumet-Consol. M., gold, red. at 105__ Hannibal ti: St. Joseph-Consol. mortia~······· · ·o* 292 Harlem River ti: P01·tcheste1·-See N- . EW HA.VE N &H 54 Hamsb. Portsm'th Mt. J°fi ti: Lanc.-Stock, 7 p. o.gu. 54 lat mortgage (ext'd in 883), int. guar_ Pa. RR. .r <Hartford & Connecticut Western-Stock.·-- ......... ..... 104 ..................... CEiiiiui,: ~fr t~ti~f~~~fe;i "i,: goia.:::: H;:;f~~!~tti.mii .Housatonic-See NEW YORK NEW HAVEN & HARTF ORD. Houston Central .Arkansas cf Norih,e1·n-lst mort .. ... . Mortgage of 1890 .............. .. ......... . . ... . ... Houst. East ti: West Texas-lat M. ($7,000 p.m.),gold. i92 2d mortga3:, land grant, $5,000 per mile ...... c* 192 Houst ti: Tex. ent.RR.-l&tM.iL.gr.,g.,red. at 110.o..&r 453 Consol. M.,landgi:.,go1d, int.guar. by So.Pac.c*&r 453 Gen. mort.. gold, mt.erest guar. by So. Pac.... c"&r 453 Debent., p. and l. gua.r. by .So. Pa.c. See text.<'*&r Debent., p. and i~ar. by 80. Pac. See text.c"·..t.r ...... Hud. S·us. Bridge& • E. Ry. -lstM.$10,000,000.c*&r ...... ---- $100 $8,000,000 . ... ··-·· 2,000,000 100 ..5.g. F...&..A . 500 &e. 2,500,000 3,781,000 1,000 1892 F. & .A. 4 100 (1) 400,000 J. & D. 2,220,000 1891 5 g. J. & D. ---1891 1,000 5 g. J. & J. 330,000 1,000 1881 8,000,000 M.& S. 6 A.RT. 1,182,550 50 J. an. 7per & J'. ---· 1853 500 &c. 700,000 J'. & J. 4 2,635,7QO 2 per an. F. & .A. 100 1,000 608,000 J. & J'. 5 ---- issa 1889 1890 1878 1883 1890 1890 1890 1890 1890 1888 ---· 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 (2) GR.EAT NORTHERN RAILROAD INCOME ACCvUNT. 1891·92. 1890·91. $5,103,279 Net earnings ......•......••...................• $4,818,108 340 187 285,704 .:lnterest on bonds owned.................. .. .. 18:036 21,036 Dividends on stocks owned . . . . . . . . . . . . . ... . . . 178,256 185,705 Rentals of leased lines......................... 249,763 118,586 lnterest and exchange......................... 135,630 198,480 Bills receivable......................... ....... 17,547 114,424 •Other income . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . $6,042,698 Total receipts .............................. $5,742,043 5,099,224 Paid rental of St. Paul Minn. & Man. RR.... 4,084,672 Dividends ..................................... (314)650,000 (5) 1,000,000 18,750 . . . .Jlliscellaneous... . ....... . . . . . . . . . . . . . . . . . . . . 1,078,000 917,800 1,344,000 750,000 7,675,000 3,619,000 4,302,000 705,000 411,000 (!) 5 5 7 g. 6 5 g. 6 g. tg. 4 5 g. ······ ---- .... ..... New York. N. Y., when earned. Feb:· ·i9u Aug. 1, 1906 1; (1) N. Y .• ·Mills ·Bi.ill.ding. Dec. 1, 1941 N. Y..,. Third Nat. Bank. Jan. 1, 1931 N.Y.,Bk.ofNo.Amerioa. Moh. 1, 1911 Phila., Company's Office do do N. Y.,Cent.N.E.&West. Hartford. J'an. 10,1893 July 1, 1913 Aug. 29, 1892 J'uly 1, 1903 J'. & D. J. & J. M.&N. Last coup. paid May,'86 J. & J. I . •• . . . . . • . J. ~ J. N.Y.,OffieeMills Bnildg A. & 0. do do A. & 0. do do A.. & o. do do .A.. & o. do do F. & A. In default, J'uiy ·i',..i920 1898 J'an. 1, 1913 July 1, 1937 Oct. 1, 1912 Apr. 1, 1921 Oct. 1, 1897 Oct. 1, 1897 Feb. 1, 1938 ·-----···· - I& . New England, the rental paying charges and 2 per cent per anI mun on the stock:. There are. $84,300 Conn. Western RR. 7 per cent honns, due 1900, convertlhle mto stock at 60 per cent. Of the stock $1,390,000 is owned by the lessee and pledged under its mortgage of 1892. (V. 50, p. 422.) ~onsatonic.-Owns . Bridegport, Conn., to State Line, Mass. 74 rn~es; Brooldi~ld Junction to Danbury, 6 miles; West Stockbridge Railroad, 3 miles (stock: owned) ; Botsford to Huntington, 10 mileR. Preferred stock, 4 per cent non-cumulative, $2,867,800; common $J:'>,OOO. In October, 1892, leased to the New York New Haven & Hartford for 99 years from July 1, 1892, at 1 p. c. yearly on preferred stoC?k. Btockholders ha\·e ·he option of exchanging eight shares of thi'Ir pref. stock for one of New Haven stock. See v. 55, p. 463,679 . Rolling tock: certiticates, r.ertiflcates of indebtedness, loans and bills :payable. etc., on Oct. 1, 1892, amounted to $1,535,9*9: funded debt $:1,000,00~; total d~b~, $1,535,9-1~. Expenses of liquidating New Eng: land Terwmal Co. 1t 1s thought will make total loss to Housatonio on that enterpri e about $500,000. For year endin~ ~e_vtemher 30, 1892, gross earnings were $1,574,164. again t $1,541,79:J m 1890·91; net, $530,631; rentals, interest and taxe11, $540,836: credit items, $3,444; balance, deficit, $6,761. (V. 53, p. 407; V. 54, p. 32, 984, 1009; V. 55, p. 59, 679, 1109. \ Houston East & West Texas.-(Narrow gauge, 3 feet.)-Owned i'rom Houston, Texas, to Sabine River at Logansport, 192 miles. La.nds 73,800 aorei;,. In July, 1885, M. G. Howe wa appointed receiver. Foreclosure sale took place Aug. 2, 1892, both mortg-ages being fore• closed. Sale conflr ,ued in S-ovember, 1892; V. 55, p. 856. Th..- agreement under wt ioh the bonlls have been deposited provides for the exchange of the old firsts, principal and accrued interest, at face value for new first •uortga~e forty-year gold fives to be issued at the rate or1 $iO,OOO a mile on the 192 miles, making a total issue of $3,840,000. About $2,000,000 will be m1ed to settle the principal and interest on. the old firsts and -t:300,tJOO for prior judgments. The remainder of the issue will be reserved to t-ltandard•gauge the road. New securities will probably be issued in January, 1893. V. 55, p. 856. In 1890-91 gross ~,,ruin~" were $454,514; net, $112.024; taxes, $12,493; permanent rmprovements, $40,104. (V. 54, p. 597; V. 55, p. 215, 856.) Houston & 'I'exas Central.-(SeeMap of Southern Pacijlc)-Owna rrom Houston, Texas, to Denison, Texas, 338 miles ; branchesHempstead, Texas, to Austin, Texas, 115 miles; total owned, 453 miles. Also operates Waco & Northwestern, Bremond, Texaii, to Ross, Texas, 57 miles; Fort Worth & New Orleans Ry., Garrett to Fort Worth, 41 miles; Central Texas & Northwestern, 12 miles: Austin & North western, 102 miles; otller, 4 miles. Lauu grant from the State of Texas was 10,240 acres per mile . Hr TORY.--Foreclosure sale oJ' the Houston & Texas Central Railway (excepting its Waco & Northw. division) was made Sept. 8, 18 . , to the reorp:a.nizatiO!J CO)lltl;1.ittee, and this railroad company orgam~ed, bu~ tbe proper~y 1s still m the hands of Charles Dillingham as receiver, suit t i-... t aside the foreclosure decree baviug been long pending. In November. 1892, the U. . Circuit Court for the Eastern District of Texas di:<mi sed the llill of complaint ( ee decision V. 55 p. 927), but case "ill be appealed. (V. 55, p. 1035.) For plan of reor: ganization see V. 45, p. 792, 820. STOCK.-The new stock is $10,000,000 and the old stockholders pale! a ca.sll as essment or $71 40 per share to obtain their pro rata share or the new stock. (See V. 51 , p. 493.) Bo,o .-The bornls are given in table as they will stand under the reorganization plan. [nterei-;t clrn,r1?es will be $914,248; taxes (estimated), $70,000. [n December, 1 92, the Morgan,-' Loni iana & '"exas RR. & SS. Co. brought suit to r ecover $1,343.538. Th ere is a claim of the tate of Texas upon 75 miles of the road against which $899,000 first mortgage bonds are reserved. The 8out~er1:1, P acitic. Company ~uarantees interest on aU the. llonds and both prmc1pal a~d mtere t of tile debe ntures. The first mortgage bonds and the conso lida t ed ffi{)rtga.ge bond may be called for redemption at 110 with proceeus of land sale . See full abstracts of all the fil(?rtgageR in V. 52, p. i-12. The tir t mortgage was a tirst lie n on some• thmg less than 2,000,000 acres of land aud tile consolidate(l mort,~au-e a fi..r t lien on about 1,000,000 acres. Of the cousolidated 6s $1 f49' 000 (not inc luded in the amount outRtanding above) are held as part Recurity ~Ol' the general mort~age 4s. Trustee of general mol'tgage is Metropolitan Trust Co. of N. Y. There are $60,000 Union Depot uonde. The debentures h ave interest but not principal payabl e in g old. EARNINGS.-[n the calendar year 1890 grnss ou 463 mile::- were $3,537. 014; net, $ 1.071'l,l7i'>; r e nt,ils, $,54,272; interest, $ 83,240; bette1:ment and additions, $197,544; other expendit~·es, $36,517; detloit for yt-ar, $93,3!::l9. Tile earnings, &o., for the year ending eptember 30, 18 9 and 1890, and June 30, 1891, were a,i follows, 507 mile, !Jeinu operated in 188889 and 1 9·90, this including the Waco & Northwestern. 1 90·91. 18 \J·90. 18 · 9 . $3,7:.W,588 $3,863,919 Gross earnings . . . ..... _... . ..... $3,262,362 ~,610,153 2,839,162 Oper ating expenses, &c ........ 2,561,494 $3,099,224 Total disbursements .. ..................... $4,753,422 $943,474 Surplus.............................. .......... $988,621 -(V. 53, p. 95, 126,156,368,407,474,777, '792,791, 880; v. 54, l). 525,683; v. 55, p. 59,332,975,995, 1013, 1037; v. 56, p. 42 •.) Green Bay Winona & St. Panl.-Road owns from Green Bay, Wis., to Marshland, Wis., 209 miles; branches, 13 miles: trackage to Winona, 4 miles; total, 226 miles. Also leases the Kewaunee Green Bay & Western RR., Kewaunt' to Green Bay, 30 miles. The Winona & 8011thwestern (which see), Winona to Osage, 117 miles, is operated in the same interest. Extension of the Winona & S. W. to Omaha, 258 miles additional, and the building of the Green Bay St. Paul & Minneapolis from Alma Centre to St. Paul, 120 miles, projected. HISTORY.-Formerly the Green Bay & .Minnesota, sold in foreclosure March 12, 1881. In 1886 three overdue coupons on first mortgage -were funded and the company resumed payment, but defaulted August, 1e89. In August, 1892, reorganized without foreclosure by plan of Feb. '24, 1892. See SUPPLEMENT of July, 1892, and V. 54, p. 443, 486, 643, ·800. Delaware Lackawanna & Western parties are interested in the property. In August, 1890, the Farmers' Loan & Trust Company, trustee of the first mortg_!),ge, was appointed trustee in possession. In August, 18~2, a tramc agreement was made for a through freight line to the east over the Toledo .Ann Arbor & North Michigan via the Delaware Lackawanna & Western. Connection with the T. A. A. & N. M. is m 11 de by ferry. See V. 55, p. 331. The Green Bay St. Paul & Minneapolis was organized in July, 1892, by parties identified with the Green Bay Winona & St. Paul, to build ,ta St. Paul, 120 miles, stock and bonds to an aggregate of $2,500,000 being authorized. See Y: 55, p. 251. 8TOCK.-The preferred stock is entitled to 5 per cent, if earned, then .common to 5, then preferred to 2 p. o., and common to any balance. EARNINGS.-From Aug. 1 to Nov. 30, 1892 (4 months), net earnings were $47,320, against $23,092 in 1891. In year ending June 30, 1891, ~oss earnings were $411,336; net, $37,333. ln year 1889-90 gross $330,319; net, $62,747. Samuel Sloan, President. (V. 53, p. 712,969; ¥.. 54, p. 443, 486, 643, 800; v. 55, p. 255.) Gulf Western & Texas.-Port Lavaca to Cuero, Texas, 56 miles; 'Victoria to Beeville, 55 miles; total, 111 mile , a Southern Pacific Property, the Mor~an's Louisiana & Texas owning all but $3,500 of the $500,000 stock. .Ln 1891 gross earnings. $99,398; deficit und~r opera.ting expenses and taxes, $d6,688. See V. 53, p. 880. IP.Hancock & Calnlllet.-Owns narrow-gauge road from Hancock to Fulton, Mich., 19 miles; branch, 3 miles. Stock, $350,000; par, ·$100-of which $250,000 is owned by Mineral Range RR. Co.-whioh • ee. First dividend, 2½1 p. c., was paid Jan. 1, 1893. Mortgage is for .$400,000. In year 1891 gross earningi! were 175,926; operating ex11enses and taxes, $107,562. Hannibal & St . .Joseph.-Owns from Hannibal, Mo., to St. Joseph, Mo., 206 miles; branches-Cameron to Kan as City, 53 milfls; St. Joseph to Atchi on, Kan., 20 miles; Palmyra to Quincy. Ill., 13 miles; l!eases, 3 miles; total operated, 295 miles. Owns bridge at Kansas City. STOCK.-Common, $9,168,700; preferred, $5,083,024; par, $100. Chi• .ca.go Burlington & Quincy RR. Co. owns $14,243,100 stock. Preferred stock has prior right to a non-cumulative dividend of 7 per cent; then ()Ommon to 7; then both share. DIVIDENDS.-On P.referred stock m 1881 ami 1882, 7; in 1883, 3; in 1887, 7; in 1888. rul; in 1889, 5; in 1890 nearly 2 per cent; in 189l, 6·82 per cent. INCOME ACCOUNTS have shown as follows: Surplus over charges: In 1891, $409,780; in 1890, $102,071; in 1889, $276,732. (V: 53, p. 325; V. 54, p. 889.) Harrisburg Portsmouth lUount .Jor. & Lancaster.-Owns from Dillerville, Pa., to Harrisburg, Pa., 36 nules; branch, Middletown, Pa., to Columbia, Pa., 18 miles; total operated, 54 mile . Leased to the l'ennsylvania RR. Co. for 999 years from January 1, 1861, the rental ,being 7 per cent on the stock and interest on the bonds, taxes and ex• ,penses of organization. Stock, $1,182,550; par $50. Forms part of -main line of Pennsylvania RR. HartCord & Connecticut Western,-Owns from Hartford, Conn., to Rhinecliff, N. Y., 108 miles. An exteu ion from TaritfvHle, .Conn., to Springfield, Mas ., i proposed. Reorganized in 1881 and in 1888 $1,l.19,435 $1,024.759 .a controlling interest in the stock was purchased by parties interested in Net earnings ...... .. ........ _... $700,868 the Poughkeepsie Bridge. Leased till August. 1939, to the Central -(V, 51, p. 537,569,680, 875; V, 52,p. 51; V, 54, p. 2 7, 492, +007; .New England & Western, now merged in the Philauelphia Reading v. 55, p. 927, 1035.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis [VOL. LVr .. J;ANUARY, 1893.J Sub11crlbers will confer a great favor by giving Immediate notice or any error dl ■covered In the11e taltlea. .... ,...... . INTEREST OR DI.V.in.E:NDB. . B~ Prinot• RAILROADS. Miles Date Size, or Amount . .. . . pif,Wlr61£DU.~. of For e;xpla.nation of colutrin headings, &c., see notes o! Par Outstandin.,. Rate per When Where P"ayable,·a.na by Stock.A-Lad Road. Bonds VaJ.ue. " Cent. Payable Whom. Divid~y.d. on :first page of tables. - Huntingdon ~ Broaa Top-Common stock ..... ... .. Preferred stock, 7 Ker cent, non-cumulative ...... 1st mort., extende in 1890 (int. only in gold) ... 2d mortgage (int. on% palable in gold) ........... 3d mortgage, consoli ate ........................ Illinois Oent·ral-Stock .. . ................. . ... ....... Leased line 4 lier cent stock, guar. (see remarks .. 1st mort. o bonds of 1895 .......... } 1 8 7 4 f or SterI. of '03, £10,000 dr'n yrl.c* $15,000,000 Sterlin~ bonds of 1905 .... .. .... secures all 4s of 1 86, due 1951, gold .... c* equally..... 312s of 1886, due 1951, fld .. c* Trust bonds sterl. (secured by Ch. St.L.&1 .O.cons.) 1st M. on Ch. & Sp. RR. (Gilman to Springfield) .c 1st M., Middle Div.,Otto to Norman June. &brs.r Collateral trust bonds, gold,$ & £ . . ........... c* Cairo Bridge bonds, gold (see remarks) .... c*&r . . Col. trust, $25,000,000, gold, onL. N. O. & T .. c*&r Chicago St. Louis & New Orleans 1st mortgage ... 2d mortgage ....... ... ........................... Consolidated mortgage ($18,000,000),gold.c*&r Memphis Division mortgafe, gold ... . ........ c* lndianap. Decatiw & Western- . D. & Sp. lstM.,g.s.f. Indianap. Decatur & Western 1st ID(P'tga/ie, gold 2d mort. (income non-cum. till Jan., 189 ) ...... c Income bonds. non-cumulative, drawn at 100 . .. r Indiana Illinois· cf: Iowa-lstM., gold, red. at par .. c~ 1st and 2d inc.Ms. ($250,000 each) 4 p.c.non-cum.r Indiana d'; fllinois Southel'n-1 st mortgage . ....... o Income bonds ....................................... Indian~lf1Us Un -lstm., g., s. f. not subj.to call.c* Belt R . & Stock Yard (leased) 1st mort_gage .... do mortgage for $1,000,000 gold ..... rterling 64 64 64 74 64 ---· 7~~{ ...... 111 131 854 ..... 798 567 567 567 100 153 153 153 153 118 118 ..... ---- ....... ..... .... --. ... i854 1857 1865 . .. . is15 1874 1875 1886 1886 1886 1878 1881 1888 1890 1892 1877 1877 1881 1889 1876 1888 1888 1888 1889 1889 1886 1886 1886 1876 1881 $50 $1,371,800 50 1,990,500 500 416,000 500 367,500 1,000 1,497,000 100 50,000,000 100 10,000,000 £200 2,500,000 £200 3,650,000 £200 1.000,000 1,000 1,500,000 1,000 2,499,000 £200 5,266,000 1,000 1,600,000 1,000 968,000 500 &c. 15,000,000 1,000 3,000,000 500 &c. 20,000,000 1,000 1,365,000 1,000 80,000 1,000 11,281,000 1,000 3,500,000 1,000 1,800,000 1,000 142,000 1,000 1,382,5~0 1,000 795,000 1,000 800,000 500 457,500 1,000 500,000 1,000 739,000 1,000 980,000 500,000 1~000 500,000 Huntino-don & B1·oad Top.-Owns from Huntingdon, Pa., to .Mount Daifas, Pa., 45 miles; branches, 22 miles; total operated, 67 miles. Preferred stock is 7 per cent non-cumulative. There were also .Jan. 2, 1892, $338,541 car trusts . Bonds due in 1895 aud1925 have interest but not principal payable in gold. Dividends on preferred stock since1883-In1884, !¼percent; in 1887, 2: in 1888 and 1889, 5 yearly; in 1890, 512; in 1891, 7; in 1892, 7; in 1893, Jan., 312. On common stock in '91, 2 p. c.; in '92, Jan., 2; July, 2; in '93, Jan., 212. In '91 gross earns., $688,057; net, $366,296; interest, $116,357; car trusts, $90,381; diY· idends, common and preferred $164,992. In 1890, gross, $721,879. See text. J. & J. Phil.Of.,4th&Walnutst. 7 per an. J. & J . do do 4 g. A. & 0. do do F. & A. do do g. A. & 0. do do See text. M.& s. New York, 214 B'dway. 4 per an. J. & J. do do 6 g. A.. & 0. London. 5 g. A. & 0. London,Morton,R.& Co. 5 g. J. & D. do do 4 g. J. & J. New York, 214 B'dway. 312 g. J. & J. do do 312 g. J. & J. London, Barinfi Bros. J. & J. New York, 214 'dway. 6 F. & A. 5 do do 4 g. A. & 0. do do 4 g. J. & D. do do 4 g. M. & N. do do M.&N. 7 do do J. & D. 6 do do 5 g. J15&D15 do do 4 g. J. & D. do do 7 g. A. & 0. Oct., '88, last paid. 5 g. A. & 0 . do do 5 g. J. & J. . ............. Oct. I. 5 4 g. J. & D. N. Y., Tr. Co. 4 J. & D. do do 5 J. & D. .............. 6 J. & D. ...... . .... 412g. 1\1.&N. Phila., Fidelicy- Trust. 6 6 g. l\I. &N. Phila., w:ii.Newbolds. i 1'-.Ceti·opoi: 0 Jan.2.4,1893 Jan. 24,1893 Se°!bt. 30, 1925 Fe . 1, 1895 :Mr. 1, 1899 ar. 1, 189a Jan. 2, 1893 Apr. 1, 1895 Apr. 1, 1908 Dec. 1, 1905 Jan. 1, 1951 Jan. 1, 1951 July 1, 1950 Jan. 1, 1898 Aug. 1, 1921 Apr. 1, 1952 Dec. 1, 1950 Nov. 1, 1953 Nov. 1, 1897 Dec. 1, 1907 June 15, 1951 Dec. 1, 1951 Jan. 1, 1906 Oct. 1, 1947 Jan. 1, 1948 Dec:· 1,..i939 Dec. 1, 1939 1906 1906 May 1, 1926 Dec. 1, 1896 Apr. 30, 1911 1892. 1891. ,-Inc.or Dec . ..._ Gro~s receipts from operat'n .. $10,178,552 $10,175,613 Inc. $2,939 Net over oper. exp. a:nd taxes. 2,850,635 3,106,642 Dec. 256,007 Fixed charges . ................. 2,088,999 2,049,991 Inc. 39,008 Land rec. and inc. from invest. 553,166 341,392 Inc. 211,774 Surp. dividend-fund July 1, '92 230,959 216,559 Inc. 14,400 Dividend payable March 1..... 1,250,000 1,125,000 Inc. 125,000 Balance, surplus.............. . 295,761 489,602 Dec. 193,841 ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting is held at Chica"'othe second Wednesday in October. Report for 1891-92 was publishe'a: at length tn CHRO~'ICLE, v. 55, p. 528, 542, 546. The Louisv. N. 0. & Texa earnings are not here included. See below. rear ending Jnne 301889-90. 1890-91. 1891-92. Miles operate(!.... . .............. 2,875 2,875 2,883 Passenger earnings............. $3,287,292 $3,812,340 $4,388,269 Freight earnings........ . . . .. . . . 11,335,365 12,160,600 12,809,973 Mail, express & miscellaneous.. 1,829,365 1,908,615 2,093,518 Illlnols Central.-(See Map.)-LINE OF ROAD-Chicago t() Cai.ro, 365 miles; East Dubuque to Centralia, 341 miles; Memphis Division Grenada to Memphis, Tenn. 100 miles; Chicago St. Louis & New Orleans Railroad, Cairo, ill., to New Orleans, La., 547 miles; branches, 931 miles; total, 2,284 miles. Also leases and controls by ownershiJ? of nearly entire stock Dubuque & Sioux City and leased lines 600 mile!!; total June 30,'92, 2,884 miles. In 1892 acquired also the Louisville New Orleans & Texas, owning from Memphis, Tenn., to New Orleans, La., Total earnings ............ .. . $16,452,022 $17,881,555 $19,291,760 456 miles; Coahoma, Miss., to Riverside Junction, 151 miles; other branches, 52 miles; Natchez to Jackson, Miss., 99 miles; Clarksdale to Operating expenses........... . . 11,153,419 12,'761,046 14,070,020 Minter City, 40 miles; total, 798 miles, of which 71 miles narrow-gauge. Net earnings........... ..... . ... $5,298,603 $5,120,509 $5,221,740 HISTORY, LEASES, &c.-This company was chartered in December, Net receipts from interest, &c.. 731,185 1,163,109 913,733 1850, and organized in March, 1851. The lands granted were upon Miscellaneous................... 30,018 34,905 61,038 the condition that the company should pay to the State 7 per cent of ---- ---gross earnings yearly in lieu of taxes. The company acquired a conTotal receipts . . . . . . . . . . . . . . . $6,059,806 $6,318,523 $6,196,511 trolling interest in the Chicago St. Louis & New Orleans Railroad, Cnterest on Ill. Central ,., ds.. $1,464,925 $1,462,425 1,459,925 and leased it from July 1, 1882, for 400 years, at 4 per cent per annum [nt.onChic. St. Louis&N.O.bd ;. 1,106,955 1,247,010 1,196,8'45 on stock, and issued the above 4 per cent leased line stock in exchange Rental Dub. & Sioux City RR.. 415,629 829,169 776,413 for a like amoant of the Chic. St. L. & New Orleans stock (see below). Divide:nds on Ill. Central stock. 2,400,000 2,250,000 2,250,000 The Sto(lk of the Dunleith & Dubuque Bridge, $1,000,000, is owned. Dividends on Leased Line stock. 400,000 400,000 400,000 In 1892 practically all the stock and bonds of the Louisv. N. O. & Tex. Permanent improvements...... 213,415 ....... . (which see) were acquired for $5,000,000 in cash and $20,000,000 in M'iscellaneous................... 50,000 130,027 4: per cent bonds, part of an issue of $25,000.000, secured by depo_it of the purchased securities. See below, also advertisement CHRONICLE, Total disbursements......... $6,050,924 $6,318,633 $6,182,104 June 11, 1892, and V. 54, p. 964. The L. N. 0 & T. was consolidated Balance: ......................... Sur. $8,882 Def. $118 Sur. 14,407 with the Yazoo & Mississippi Valley RR. Co. in 1892. (V. 55, p. 679.) LOUISVILLE NEW ORLEANS & TEXAS.-For the year ending June 30, In 1887 the company acquired the stocks of the leased lines in Iowa. 1891, gross earnings on 790 miles were $3,716,430; net earnings, ·$ 1 . LANDS.-Tlle Louisville New Orleans & Texas on July 1, 1891, owned 071.426; total charges, $754,245; balance, surplus, $317,181. ( V. 53, 579,645 acres of land, and there were land and town site notes in p. 186, 370, 455, 472, 47'6; V. 54, P- 159,265,939. 964, 1048; V. 55, treasury for $758,783-all subject to its income bonds. p. 59, 256, 5~8, 5 12, 546, 639, 679,810,995; V. 56, P• 103, 127.) . t k 18 · d b d ·t f Indiana Illinois & Io'W'a.-Owns from Streator Junction, ill. CAPITAL STOCK.-Th e 1eased 1me s oc Y eposi O 1 Wabash Railway) into_Streator, 1_ ·73 $10,000,000 Chicago St. Louis & New Orleanssecure stock, and in case of to_Knox, Ind., 118 miles·, trackage ~ , default for sixty days in the payment of any semi-annual dividend of 2 miles; (Ch. & W. M.) La Crosse, Ind., to New Buffalo, Mich.1 38 miles; per cent the stockholder is entitled to his share of the stock pledged. (Chic. & E. Ill.) Wheatfield to La Crosse, Ind., 13 miles; tota1 operated, on October 12, 1892, stockholders voted to increase the capital stock 171 miles. Extension from Knox eastward to South Bend, Ind., profrom $45,000,000 to $50,000,000 for improvements. see official circu- posed in August, 1892, bonds for $400,000 to be issued thereon. See V. 55, p. 331. Stock, $3,597,800; par, $100. Car trusts July 1, 1892, a r in v 55 p 255 · ' · · were $108,513. In 1890 finances were readjusted. (Seo V. 61, p. 457.) DIVIDENDS.-On common stock since 1882-In 1883; 8 ail.d 17 per T1ie 1st and 2d incomes, as well as the 1st 4s, are sL1bject to call at par cent in Chicago St. Louis & New Orleans stock exchangeable for leased aRd interest after 30 day's notice. In year ~nding June 30, 1892, line certifl.c1:1,tes; in 1884, 10; in 1885, 8; in 1886, 712; in 1887 and 1888, gross earnings were $601,306; net, $150,650; mterest, $42,000; ren7; in 1889, 512; in 1890, 6; in 1891, 5; in 1892, 5; in 1893, March, 212 tals, etc., $17,765; other paymente, $30,096; balance, surplus, $60,789. per cent. In year ending June 30, 1891, gross $446,332. Balance sheet, etc., in PRICE OF STOCK.-In 1883, 1241i)l48; in 1884, 110'lvl40; in 1885, 11912 V. 55, p. 146. (V. 54, p. 965; V. 55, p. 146, 331.) . @140; in 1886, 130-W14312; in 1887. 1141i)138; in 1888, 1131i)12312: in Indiana & Illinois southern.-Suitz City, Ind., to Effigham, 1889, 106'@118~; in 1890, 85@120; in 1891, 901il109~; in J Si392, 9512 Ill., 90 miles. Capital stock, $1,400,000. Bills payable wero $239,692 @110; in 1893, to Jan. 20 inclusive, 99'@102 7 s, July, 1891. BONDS.-Cairo Bridge bonds are secured by deposit of a like amount of Indianapolis Decatur & Western.-Owns !rom Indianapolis, Chicago St. Louis & New Orleans lstmortgaie Cairo Bridge 5 per cents. Ind., to Decatur, ill., 153 miles. On April 1, 1889, defaulted, and in See advertisement in CHRONICLE, May 7, lts92. July the road wa;;. turned over to R. B. F. Pearce _and B. A. Sands, The trust bonds of 1886 are secured by deposit of $5,266,000 Chicago trustees of the Indianapolis Decatur & Springfield mortgage. A dest· L. & N. 0. consols, and are to be included in any new mortgage on cree of foreclosure under this mortgage was confirmed by State the Illinois Central lines. Supreme Court in November, 1892, sale to be advertised three months. The collateral trust bonds of 1952 are secured by pledge with the U. S. Plan of Aug. 26, 1891, offered by holders of junior securities contemTrust Co. of New York of $16,350,000 5 per cent 1st mortgage gold plate, a control of stock and guaranty of new 1st mortgage by the bonds of subsidiary railroads covering 850 miles. See list, V. 55, p. 550. Cincinnati Hamilton & Dayton. A considerable majority of the junior Of the $25,000,000 collateral trust bonds issued on pledge of the securities has been deposited and the plan it is said will go forwaird Louisv. N. O. & Texas securities purchased in 1892, $5,000,000 are to be without delay. (See v. 53, p. 968; v. 54, p. 643; v. 55, p. 938.) In retained by the Illinois Central. Trustee of deed, U.S. Trust Company. Jan., 1893, the trustees hoped soon to pay two coupons. For the Chicago St. Louis & New Orleans the lessee guarantees the .From July 1, 1892, to Nov. 30, 1892 (5 months), gross earnings were principal and interest of all the outstandin1,r bonds prior to the 5 per $235,269, a~ainst $227,373 in 1891; net, $75,964, a11ainst $46,678. cent bonds, and by an endorsement on the latter bonds guarantees the In year ending June 30, 1892 gross earnings were :i;511,!l87; net, payment of the interest on the same until the principal is paid. Of $130,547. In 1891 gross, $478,448; net, $116,724. New York office, these consol. 5s $5,266,000 additional to the amount outstanding 2 Wall st. (V. 53, p. 126, 520, 880,968; v. 54, p. 242, 287, 444,643; above are pledied as security for the Illinois Central trust bonds of v 55 938 1 1886. Of the uhicago St. Louis & New Orleans first mortgage 7s of ~ndi~na~olis Union.-Owns 3 miles or track with terminals atln1877, $539,000 are a. prior lien on that part or the road in Tennessee. dianapolis, Ind., ancl leases for 999 years the property of the Belt RR. & GENERAL FINANCES.-The Cairo Bridge bonds were sold in 1892 Sto k y d C · t· f 14 il f d unnin.,. around the city and $20,000,000 collateral trust 4s were issued to for.the Louisv. etc c Fo~~!d i~,1~~1:nf~~rnish~s ~acilitil;i to the severai N. Orleans & Texas. (See above.) The :fl.xed charges mcurred through railroads entering Indianapolis. ST •CK-The Cleveiand Cinc!nnati the purchase of the_ L. N. O. & T. will therefore }?e !l,800,000, to w~ch Chicago & st. Louis, the Pittsburg Cincinnati Chicago & St. Lom-1 and sh!)uld be aclded the mterest on the $5,0~0,000 paid m cash. 4-ssll?lmg the Terre Haute & Indianapolis are virtual proprietors, they ha" in.ginthis at 5 per cent, the ann~al rent will be ~1,050,000. This will be vested in it $1,534,434 to Jan. 1, 1892. No stock outstanding. 8 )S-DS 28 26-:100 per cent of the ea:rJ?.mgs ot 1itl.e road m the year 1890-91.. As -Trustee of the Indianapolis Union mort"'age is the Fidelity Ins. Trus1i to Chicago lakye front d~c1s10n aftirmecl by U. S. Supreme Comt 1n J & Safe Deposit Co. of Philadelphia. Boncls for $20,000 have been: canDeoember see v • 55, p. 99..). celed by the sinking fund, the issue bein"' purchasable at pfl.r a.mi mterLATEST EARNING .-Comparative statement for 6 months ended Dec. est, if offered, hut not subj ect to call before m a~urity. Th~ Belt RR. 3 1 (D ec. 1892, being estimated), is as follo-Ws-V. 56, p. 103,127: has $1,000,000 stock and has paid 7 per cent clividends. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pl:!-Y ~!~mi~!1 1 I 68 INVESTORS' SUPPLEMENT. [VOL. LVI. sub•crlber• will conf'er a great f'avor by glvln:,; Immediate notice of' any error discovered In the8e Table•. RAILROADS. INTEREST OR DIVIDENDS. Bonds-Prin_o1 Miles Date Size, or Amount pal,WhenDue, For explanation of column headings, &c., see notes of of Par Outstandino Rate per When Where Payable, and by Sto~ks-Last on first page of tables. Road. Bonds Value. "' Cent. Payable Whom. Dividend. Indianapolis ct Vincennes-1st mortgage,if.1jar .... c 2d mortga~e, guaranteed p. & i. Penn. R . Co .... c Internationa ct Great N01·the1'n-lst mort., gold .... 2d M. gold. int. 412 :p.c. till ~t.'97, then 5 p.c.. c* 3d m. ($3,000,000) mcome · Sept.1, 1897, g .. c* Certificates of indebt. sec. by lstm. coupons, gold. Colorado Bridge bonds, sinking tund .............. Jowa Oent1·al-Common stock. ....................... Preferred stock (5 per cent non-cum., see text) ... 1st mortgage, $15,000 per mile, gold ............ c* Keithsburg Bridge 1st mortgage, gold, guar .... c* 117 117 776 776 776 776 ·--· ··- · 50i Iron Railway-Stock ................................. ..20 Jacksonville Louisville ct St. Lonis-See CHICAGO P EORIA Jacksonv. St . .August. ct Halifax River.-lstM .. ... c. Jacksonville TamC,a &Key Wesl-lst,g.,red.atll0.c" 130½ Atlantic Coast t.Johns & IndianR. lst M.,gold.c Sanford & Lake Eustis 1st M. ($350,000), gold ... J. T. & K. W. consol. mort§age for $4,000,0000 .. Collat. Trust loan on Fla. o. bonds, Series A ..... Do do do stock, Series B ..... Equipment bonds, Series A and B ......... . ...... St.Johns&LakeEustis lstM.,gu.p.&i.byFla.So.Ry, Jalisco Pacific-1st M.,$25,000p. m.,:ftold, guar ... Jereerson (Pa.)-lst and2dMs,exten.( awleyBr.).c st M. Carbondale to S. depot, ~ld, guar. p. & i .. c* ;Jotiet ct Northern Indiana-1st . guar. by M. C •. c 37 29 200 ..... .... "4g 59 8 37 45 1867 1870 1879 1881 1892 1892 1880 $1,000 $1,700,000 7 F. & A. N. Y., Farm. L. &Tr. Co. 1,000 1,402,000 6 M. & N., do do 300 &c. 6 g. M. & N. N.Y., office, 195 B'way. 7,954,000 500 &c. 6,968,500 412 to5 g. M. & 8. N.Y.,Farmers'L.&Tr.Co 500 &c. 2,605,000 4 g. M. & 8. See remarks. Various 631,335 5 g. M. & N. N. Y., Central Trust Co. 1,000 225,000 7 M. & N. N.Y., office, 195 B'way. 100 .... 8,200,000 100 5,543,736 1 . : : : : N. Y. office: ·ff Wall St. ---1,000 6,300,000 1888 5 g. J. & D. N. Y.,MercantileTr. Co. 1,000 591,000 1885 6 g. J. & D. N. Y., Central Trust Co. . .... 100 600,000 112 yearly. Boston. & ST. LOUIS. 1,000,000 1888 6 F. & A. N. Y., Mercantile Tr. 6 g. J. & J. N. Y., Mercantile Tr.Co. 1,000 1,566,000 1884 1,000 360,000 1886 6 g. M. & S. do do 290,000 1886 6 g. M. & 8. 1,000 do do 1,000 1890 M. & S. See text. do 6 do 1,000 2,905,000 4to412 F. & A . .Boston, Am. L. &Tr. Co. 1888 1,000 900,000 1888 4 F. & A. do do 53,000 500 88-89 . . ... N.Y.,Mercantile Tr Co. 6 285,500 do do ---- 1,000 ---..6.g. F ..&..A. NewYorkCity. 1,475,000 1892 1,000 300,000 412 & 6 J. & J. Phila., Fidelity Tr. Co. 1867 1,000 2,800,000 1889 5 g. A. & 0. N.Y.,N.Y.L.E.&W.RR. 1,000 800,000 1877 7 J. & J. N. Y., Farm. L. & Tr. Co. ------ Feb. 1, 1908 May 1, 1900 Nov. 1, 1919 Sept. 1, 1909 Sept. 1, 1921 Nov.1, '93-'97 May 1, 1920 Apr: ·ii: ·i892 June 1, 1938 ,Tune 1, 1925 July 10, 1891 Aug. 1, 1918 Jan. 1, 1914 Jan. 1, 1906 Sept. 1, 1916 1940 Aug. 1, 1898 Aug. 1, 1898 $7,500 s.-a.n. Aug.· 1; .i922 July 1, 1927 Jan. 1, 1909 July 10, 1907 Indianapolis & Vlncennes.-Owns from Indianapolis, Ind., to The interest, rentals, &c., above in 1891-92 include: Interest on Vincennes, Ind., 117 miles; branches, Bushrod to Dugger, etc., 16 miles; funded debt, $308,692; on current liabilities, $22,731; rentals of total, 133 miles. The Pennsylvarna Company owns a controlling bridges, tracks and tunnels, $50,760; miscellaneous, $17,347; total, interest in the stock and operates the road, advancing the deficiency to $399,530. President, Russell Sage. (V. 53, p. 256, 36'7, 407; V. 54, pay interest on the bonds. The capital stock is $1,402,000; par, $50. p. 78, 243, 369, 648 ; v. 55, p. 4.20.) of which Pennsylvania Company on July 1, 1891, owned $1.401,900. .Jacksonvl 'Je St. Augustine & Hallfax Rlver.-South Jack Due Pennsylvania Company Dec. 31, 1891, for advances, $2,421,257. In 1891 gross earnings, $473.928; net, $68,134; interest, $203,120; sonville, Fla., to St. Augustine, 37 miles-operates St. John's & Halifax River RR., Palatka to Daytona, Fla., 51 miles; St. Augustine & Halifax rentals, etc., $3,563; deficit, $138,548, against $160,848 in 1890. River RR., St. Augustine to East Palatka, Fla., 25 miles; St. John's International & Great Northern.-Owns Longview, Texas to Ry., Tacoi, Fla., to St. Auipistine, 12 miles. These lines form a through Laredo, Texas, 496 miles ; and Palestine, Texas, to Houston, Texas, 1.50 route from Jacksonville via St. Augustine to Daytona, 112 miles with miles: branches-Houston & Columbia, 50 miles; Phelps to Hunts· branches, 13 miles. An extension from Daytona southerly to Rock ville, 8 miles; Mineola to Troupe, 44 miles; leases-Round Rock to ledge, 70 miles, was completed in Jan., 1893. The Jacksonville Bridge Georgetown, 10 miles; Henderson to Overton, 16 miles; Galveston Co. and the Palatka Bridge Co. are controlled in same interest. Henry aoust. & Hend., Galveston to Houston, 50 miles; total, 825 miles. M. Flagler, President. ORGA:NIZATION.-Foreclosed in 1879 and reorganized. In 1892 the .Jacksonville Southea8tern. 1 SEE CHICAGO PEORIA M. K. & T. disposed of its interest in the stock to Mr. Gould. (See V. 50, p. 313; V. 54, p. 366.) Default was made in March, 1889, and Jacksonville Louisville & St. Louis. { & BT. LOUIS. receivers were appointed Feb. 16, 1889. Reorganized without fore.Jacksonville Tampa & Key West.-Line of road Jackson closure in 1892 under plan of Jan. 27, 1892. See plan in V. 54, p. 203, 366. Road was turned over to the company by the 1:eceiver on '1lle, Fla., to Sanford, 125 miles ; Enterprise branch 4 miles Deland branch, 6 miles; Atlantic Coast St Johns & Indian Riverd. Julyll, 1892. V. 55, p. 100, 177. Enterprise to Titusville, 37 miles; Sanford & Lake Eustis Div., Sanfor STOCK-Stock authorized is $25,000,000; outstanding, $9,755,000; to Tavares, 29 miles; total J. T. & K. W., 200 miles. Operates Flo1·ida par, $100; controlled in interest of Missouri Pacific as stated above. South., Palatka, Fla., to Brooksvllle, and branches, 179 m.; and Bartow BONDS.-The first mortgage bonds remain unchanged. The second to Punta Gorda, 80 miles; !Pases St. Johns & Lake Eustis, Leesburg to mortgage interest is sea.led to 412 per cent from Sept. 1, 1891, until Astor and Lane Park, 48 miles-total operated, 507 miles. and including Sept. 1, 1897; thereafter it will be 5 per cent; but in case RECEIVERSHIP, ETC.-Opened March,1886, and consolidated the of default the rate reverts to 6 per cent as formerly. There are $85,500 Palatka & Indian River RR. and the Sanford & Lake Eustas RR.with In July, of 8 per cent 1ncomes, to retire which a. like a.mount of second mort- 1892, H. E. Howland was appointed receiver of the Florida Construct1o:n gage bonds, additional to those above, are reserved. Company, which owns most of this company's stock. On Aug. 1892 The third mortgage 4 per cent bonds for $3,000,000, until after Mason Young, of New York, was appomted receiver of the J. 4, T. & ~ Sept. 1, 1897, draw futerest only if earned, non-cumulative. See pro- W. The purpose of these receiverships is to secure an accounting vision respecting payment of interest in V. 56, p. 82. The certificates tween the companies, their accounts being very much mixed. See V. be-55 of indebtedness are secured by first mortgage coupons held in trust p. 100, 146, 679. The land grant was about 1,500,000 acres. and a.re payable $126,267 yearly. See V. 54, p. 203, 366. STOCK-Stock July 1, 1891, was $3,010,000, of which it 18 said The International & Great Northern guarantees $2,000,000 of Galvesthe Florida construction Co. claims the right to $2,715,300. ton Houston & Henderson 1st mortgage 5 per cent bonds. BoNDs.-The Jacksonville Tampa & Key West first mortgage bonds STATE RR. COMMISSI0N.-In August, 1892, the u. 8. Circuit Court granted a.n injunction to v.revent the Texas State RR. Commission of 1884 are subject to call at 110. The consolidated mortgage is fo:r from enforcing the low tariff for freight which they had established $4,000,000, of which $2,216,0JO reserved to retire the prtor bonds about Sept. 1, 1891, and which it is claimed caused a loss to this com- when due. Certain of the consols bearing serial numbers higher than pany in the seven months ending March 31, 1892, at a rate equal to 2,216 are held by the former President of the company, as collateral, as he claims, for a debt due him from the company. The receiver over $200.000 per annum. SeA V. 55, p. 314, 332. EARNINGS.-From Jan. 1 to June 30 1892 (6 months), gross, $1,664,· warns all persons against these bonds, as the company will not recognize them, if at all, until after an accounting. 501, against $1,689,347; deficit under operating expenses, $59,311, The company obtained control of the Florida Southern on Jan. 1, against $149,971. Earnings are mostly made in last six months of year. 1889, and issued a collateral trust loan (Series A) for $2,905,000 on In calendar year 1892 gross earnings were about$4,152,761. In 1891 gross, $4,098,634; net, $618,713. In 1890 gross, $4,053,649; net, $545,- that company's bonds. this loan bearing 3 percent interest till Aug. 1 1890, 4 per cent till Aug. 1, 1893, and 412 per cent for the remaining 5 746. (V. 53, p. 58,569,604; V. 54, p. 33, 78,203,243,287,329, 366; years,. and a collateral trust (Series B) for $900,000 on that company's v. 55, p. 100,177, 331, 462, 1036; v. 56, p 82.) stock. (See V. 47, p. 531.) The Florida Southern Ry. was sold in foreIron Rallwa-,..-owns road, Ironton, O., to Centre, 0., 13 miles, closure in March, 1892, and reorganized. (V. 50, p. 422; V. 53 p. 922.) and branches 7 miles. Di_vidend in 1891, 112 per cent. In year ending Receiver's certificates for $125,000 were authorized in August, June 30, 1892, gross earnmgs, $32,909; net, $2,289 ; taxes, $3,754. 1892, to meet J. T. & K. W. interest payments. The first mortgage Io-wa Central.-Owns from Albia. Ia., to Manly Junction, Ia., interest due Jan. 1, 1893, was paid at maturity. 178 miles; Oskaloosa, Ia., to Iowa Junction, near Peoria, Ill., EARNINGS.-From July 1, 1892, to July 31, 1892 (1 month) gross of (excepting Keithsburg Bridge over the Mississippi, leased), 184 miles; main line were $40,151, against $39,826 in 1891; net, $5,774, against Grinnell & Montezuma Branch, 14 miles; Story City Branch, 35 miles; $12,841. In 1891-92 gross, $781,824; net, $341,709. In 1890-91 the State Centre Branch, 27 miles; Belmond Branch, 22 miles; Newton ~oss earnings on 200 miles were $705,267: net, $228,339; surplus ove:r Branch, 28 miles; Manly Junction, Ia., to Northwood, Ia., 0eased to mterest, $95,379. New York office, 10 Wall Street.-(V. 49, p. 235 Burlington Cedar Rapids & Northern) 11 miles; other, 4 miles; total V.50,p.422,519;V.53,p.922; V.55,p.100,146,177,215,256,679 owned, 503 miles; leases Keithsburg bridge over Missrnsippi River, 3 miles; tracka~e, Iowa Junction, ill., to Peoria, ill., 3 miles; total, 509 .Jallsco Pacific (1'Iexico).-Projected from Manzanillo on the miles, but of this 11 miles leased to B. C. R. & N., as stated above. Pacific Coast of Mexico to Guadalajara, 225 miles, of which 59 miles from Manzanillo to Colima are in operation, and 82 miles more about to HisTORY.-The Central Iowa, October, 1884, defaulted in payment of interest, and in 1888, after foreclosure sale, was reorganized be built. The Mexican National Construction Company, which guarantees the bonds, principal and interest, has contracted to build the under present title according to plan in CHRONICLE, V. 44, p. 653. entire line, 225 miles, for $5,625,000 mortgage bonds, $4,500,000 CAPITAL 8TOCK.-Common stock authorized, $11,000,000; preferred preferred stock (entitled to 5 per cent first if earned, cumulative after Jan. authorized, $7,400,000. The preferred is entitled to 5 per cent (non• 1, 1895) and $5,625,000 common stock. The mortgage securing these cumulative), then common to 5, then both share pro rata. bonds, some of which have been sold by the Construction Company, is DIVIDENDS.-On pref. stock begun in 1892; in April paid 1 per cent. for $7,500,000 at $25,000 per mile of completed road, and is payable in BONDS, ETC.-Trustee of first mortga~P., Mercantile Trust Co. See U. 8. gold; trustee, State Trust Co. The bonds are redeemable at 110 a.bstract V. 49, p. 582. In February, 1892, $400,000 :five per cents o:f before maturity on six months' notice. (V. 54, p. 1009.) 1888 were issued for new equipment and improvements. On July 1, .Jeff'er•on.-Owns from Susquehanna Depot; Pa., to Carbondale, 1892, $289,500 bills payable were outstanding. Pa., 37 miles; branch, Hawley, Pa., to Honesdale~ Pa., 8 miles; total,. LATEST EARNDIGS.-From July 1, 1892, to Nov. 30, 1892 (5 months), t5 miles. Leased in perpetuity to the New York Lake Erie & Western gross $864,641, agst. $842,408 in 1891; net, $257,302, agst. $279,887. for $140,000 :{>er annum for main line and $15,900 for branch. MortANNUAL REPORT.-Fiscal year ends June 30; report for 1891-92 was gage of 1889 1s guaranteed principal and interest by lessee. The Hawley branch 2ds, $96,000, due in 1889, were extended at 6 per cent. in CHRONICLE of Sept. 24, 1892. Capital stock, $2,096,050; par, $50. Gross earnings year ending Sept. 1889-90. 1890-91. 1891-92. 30, 1891, $750,126; net, $191,876. Av'ge miles of road operated. 504 492 497 Gross earnings ................ $1,588,963 $1,699,742 $1,888,260 .Jeff'erson Madison & Iodianapolls.-See PITTSBURG CniCIN• Net earnings (over taxes).... 369,408 410,8i!7 475,491 NATI CHICAGO & ST. LoUIS. Total µet rec'ts (incl. rentals) 385,283 426,987 489,759 fnterest, rentals, &c.... . . . . . . 360,667 .Joliet & Northern Indlana.-Owns from Joliet, ill., to Lak& 405,309 399,530 Dividends..................... . . . .. . . . .. .... . . 55,364 Station, Ind., 45 miles. Operated as part of the Michigan Central main line. Road opened in 185:4, an!! ~eased to the Michigan Central. Stoc1t Surplus ................... . $21,677 $24,616 $34, '!65 ($300,000, par $100) carries dividends of 8 per cent per annum. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, 1893,] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS A D BONDS. 69 KANSAS CITY, NEVADA -AND- FORT SM 1TH R. R. · ]lfVESTOBS' SUPPLEM'El'i 't 70 [VOL. L-VI. Subscribers will con:f'er a great Cavor by giving bnmedlate notice oC any erro1· discovered in these Tables . .RAILROADS. For explanation of column headings, &c., see notes on first page of tables. Junction ( Philadelphia)-!st mortgage (extended) K:~i:,ir;;~~ic-,i:_:_:sioc ir,· $io;ocio,"<:ioo ;;tith<>rjz.ed: 1st mortgage, $15,000 per rmle,gold,guar. p.& i . o-- Kan. Oity.Ark. &New Orl.-lstM.($20,000p.m.),g.o.. Kansas Oity Belt-1st ($534,000 gu. K.C.F.S.&1\1.).o* Kansas City Br. & 1'e-r.-lst M. for $1,500,000, g . o* Kansas City Olinton cf: Bpring.-l st M., g., guar . . o* Kansas City Ft. Scott d: Memphis-Stock ............ . INTEREST OR DIVIDENDS. Bonds-Princt Miles Date Size, or Amount 1------------------=--- pal,WhenDue. of of Par Outstandin a R a te per When Where Payable, and by Slo~k~-Last Road. Bonds Value. ° Cent. Payable Whom. Dividend. - - - - - - - - ·•- - - - - - - - - - - - - -1- - - - - - - - - - 1 - - - - - - 3·56 3·56 134 23 10 12 174 Preferred stock contracts, 8 per cent ............ . K. C. F. S. & G. 1st M., I'd. gr.,s. f., dr'n at 110. o* Mortgages, guaranteed (part drawn. at 105) .c* 202 Kansas & Missouri RR. 1st mortgage ......... o* 26 K. C. Ft. S. & G. Ten-year coupon notes ....... . Kan. City S. & M. Plain bonds (red'ble at 105) .. o* Consol. mortgage ($25,000 per mile) not dr'n .. c* 671 Current Riv. RR. 1st mort., $20,000 p. m., guar. 81 Kan. C.& M. R'y &B'dgelstM.g.,s.f.,dr'natllO.o* Kansas Equip. Co. 1st M. ~ar., s. f., red. at 110. Kansas Oity d: lndep . .Air Line-1st M., gold ... c&r 512 Kan. Oily ct; Indep. Rapid Tr.-1 st M. $1,000,000. c Kan. 0. Memph. cf: Bi1·.-lst mort. (dr'n at 110) .. c* 276 Coupon interest notes, subject to call at par..... . Birmingham equipment M.,g.,gu. (red. at 110) .. c* Memphis Equipment Co., guar., red. at 110 ..... c* Kansas Oity cf: Pacific-1st mort., gold, int. guar .. c* 125 K.O.St.Jo.& Ooun.Bl.-Con.M. (Nos. 1 to 500pf.)*c 274 1st Ms. Nod. and Tark. Val. RRs. s. f. (dr.at 100) .c* 61 Kan. Oity Suburban Belt-1st mortgage, gold .... C\ 30 Consol. Terminal Ry. of K. C., 1st M., gold ...•. c* Union Ter. RR. Co.1st M. ($2,000,000) g. guar .c* 10 i6o 1 882 1865 . ... 1890 1891 1886 1889 1885 .... .... 1879 '80-'84 1882 85&86 1884 1888 1887 1889 1890 1892 1889 1887 1891 1888 1890 1890 1877 1880 1890 1892 1892 $ 1,000 $425,000 412 J. & J. Phila., 233 So. 4th St. 1,000 300.000 6 .A.. & 0. do do 100 9,000,000 ..4. g. &.. Tr. Co. 1,000 1,340,000 1,000 5 g. M. & N. N. Y. City & London. 276,000 1,000 1,930.000 6 J·. & J. Boston, Of., 50 State St. 500 975,000 6 g. J. & J . Jan., '91, coup. last pd. 1,000 3,192,000 5 g. A. & 0. Boston, Merch. Nat. Bk. 100 9,997,000 1 F. & A. Boston, Of., 50 State St. 100 2,750,000 See text. F. & A. do do 2,247,000 100 &c 7 J. & D. Bost., Nat. Webster Bk. 1,000 1,214,000 7 l\f, & S. do do 1,000 5 F. & A. do do 390,000 5,000&c 320,000 6 Various Boston, Of., 50 State St. 1,000 500,000 M. & N. Boston, Nat. Union Bk. 6 1,000 11,812,000 6 M. & N. Bost., Nat. Webster Bk. 1,000 5 A. & 0. Boston, Nat. Unjon Bk. 1,606,000 1,000 3,000,000 5 g. A. & 0. N.Y., Un.Tr. Co. &Bost. 1,000 5 J. & J. Bost., Nat.Webster Bk. 711,000 5 g. l\f. & 8. Phil.,Prov. • ife&Trust 1,000 300,000 1,000 475,0UO 5 M. & S. N. Y., Central Trust Co. 1,000 5 6,892,000 M. & S. Interest funded. .... 861,500 6 M. & S. Boston, Of., 50 State St. 1,000 1,000,000 6 g. M. & S. Boston,OldCol'nyTr.Co 1,000 6 F. & A. do' do 189,000 1,000 4 g. F. & A. N. Y., Central Tr. Co. 2,500,000 7 100 &c. 5,000,000 J. & J. Boston, 2d Nat'l Bank. 1,000 56!i,OOO 7 J. & D. do do 1,000 1,000,000 6 g. J. & D. Phila., Union Trust Co. 1,000 5 g. F. & A. Phil.,Prov.Life&Tr.Co. 750,000 1,000 750,000 5 g. & J. Philadelphla. .:Junction (Phlladelphia).-Owns from Belmont, Pa:, to Gray's Ferry, Pa., about 4 miles. It connects the Pennsylvania, the Philadelphia & Readin~ and the Philadelphia Wilmington & Baltimore railroads, oominginto Philadelpllia. Stock $250,000 (par $50), is all held by these three companies,and pays dividends of from 20 to 50 per cent per annum. Kanawha & 1'.lichlgan.-( See Map Toledo & Ohio Oent1·al.)-Owns Corning, O., to Malden, &c., W. Va., 134 miles; trackage 19 miles; total 153 miles, of which 11 miles leased to Tol. & Ohio Cent. HrsTORY, ETc.-Foreclosed March 4, 1890, and reorganized under present title. (V. 50, pp. 451, 483.) In October, 1890, a large interest in the stock was acquired by parties interested in the Toledo & Ohio Central, which company has iruaranteed the bonds, princjpal and interest. (See V. 52, p. 165, ;:s51.) An extension of 30 miles from Malden to mouth of Gauley River, where connection will b e made with the Chesapeake & Ohio, is building, and sale of bonds to pay for construction has been negotiated.. LATEST EARNINGS.-July 1 to Nov. 30, 1892 (5 month ), gross $160,329, against $137,910 in 1891; net, $53,350, a gainst $40,843. In y ear ending June 30, 1892, gross earnings were $360,091; n et, $110,233; taxes, $15,755; interest on bonds, $56,227; other inter est , $2,834; rentals, etc., $10,000; balance surplus, $25,416. In 1890-91, $342,815; net, $86,201. (V. 52, p. 165, 351; V. 54, p. 801.) Kansas City Arkansas & ~ ew Orleans.-Projectecl from Missouri State line through Arkansas and Louisiana State line 300 miles. Bonds for $276,000 have been issued on road from H a zen, Ark., to Stuttgart, 26 miles. Capital stock, authorized, $6,000,000; issued, $1,000,000. Mortgage is for $6,000,000 at $20,000 per mile; trustees, the Farmers' Loan & Trust Co., New York. C. G. Stoddart, President. Offices at 18 Broadway, N. Y., and Bartholomew House, E. C.• London. Kansas City Belt.-From Argentine to Washington.Park, 10 miles. Mortgage is for $2,500,000. Stock authorized $2,500,000 (par $100); outstanding $100,000 (par $100); owned one-half by Atchison Topeka & Santa Fe and three-tenths by Kansas City Fort Scott & Memphis and two-tenths by Chicago Milwaukee & St. Paul. Double-tracked and u sed for a terminal road at Ka:11sas City. In 1891-92 gross earnings were $208,298; net, $114,909; mterest, $116,244; balance, de:fl.cjt, $1,335. Kansas City Bridge & Term.inal.-Orgariized to construct a railroad and carri~e bridge over the Missouri River at Kansas City. In August, 1891, webster Withers and W. H. Holmes were appointed joint receivers of the Kansas City Bridge & Terminal Railroad and the Chicago Kansa3 City & Texas Railroad, the latter extending from North Kansas City, Mo., to Smithville, Mo., 20 miles, and having $425,000 bonds outstanding. Decrees of foreclosure granted in December, 1892, under both the Terminal and the C. K. C. & T. RR. Co's. mortgages. V. 55, p. 1034. Stock, $975,000; par $100. Kansas City Clinton & Springtield.-Owns from Cedar Junction, Kan., to Ash Grove, Mo., 164 miles, and branch to Pleasant Hill, Mo., 10 miles; total, 174 miles, but only 163 miles operated. Built in the interest of the Kansas City Fort Scott & Memphis RR., whi.ch company guarantees the bonds. There are $58,000 Pleasant Hfll & De Bot07J?ercentsdue October 1, 1907. Stock authorized, $2,500,000; par, $100; issued, $1,775,400, of which one-half is owned by the Kansas City Fort Scott & Memphis RR.; due that Co. July 1, 1892, $345,000. LA'.1-'EST EARNINGS:-From Jan. 1 to Dec. 31, 1:892 (12 mont h s) gross earnrngs, partly estimated, were $327,475, agarnst $309,51 2 in 1891. ll'NUAL REPORT.-Fi cal year ends June 30. In 1891-92 gross earnings, $317,543; net, $95,687; interest, $163,743; deficit , $ 68,056. In 1890-91 gross, $385,622; net, $140,367. Kansas City Fort Scott & 1'.lelllphis.-Owns majn lme from Kansas City, Mo., to Memphis, Tenn., 485 miles, with branches, 186 miles; total owned, 671 miles; lea es-Current River Railroad, Willow Springs, Mo., to Cairo, 81 miles; total operated, 752 miles. Also owns one-half the capital stock of the Kansas City Clinton & Springfield and of the Kansas City Memphis & Birmingham RR. (see those compa nie ); also 300 shares Kansas City Belt and $942,000 Current Ri,er. ORGANIZATION.-Formed in April, 1888, by consolidation of the Kan. C. Ft. Scott & Gulf and Kansas City Springfield & Memphis railroads. The Kan. City & Memphis Railway Bridge was completed inl\Iay, 1892. DIVIDENDS.-On common stock since 1881-In 18 2, 2 p er cent; in 1883, 3: in 1884, 512; in 1885, 212; in 1886, 4; in 1887, 412 ; in 1 8, 312; in 1889, 3; in 1890, 312; in 1891, February, 1; none ~ince. Dividends on preferred since 1880-In 1881, 812; from 1 88 2 to F ebruary, 189! 1 both inclusive, at the rate of 8 per cent yearly. The August, 1891, ruvidend was deferred until the result of the calendar y ear 1891 could be ascertained, and in 1892, February, 8 per cent was paid. In like manner the August, 1892, dividend was deferred. (V. 55, p. 804.) BONDS.-Underthe consolidated mortgage (trustee New England Trust Company of Boston) sufficient bonds are reserved to provide for all prior bonds when due. The Fort Scott Southeastern & Memphis, Rich Hill and Short Creek & Joplin roads have a sinking fund with which bonds are bought at 110, or, if not offered, are drawn at 105 (of these bonds $230,000 were on June 30, 1891, held alive in the sinking fnndl. The Current River RR. bonds are guaranteed. See V. 44, p. 246. The Kansas City & Memphis Railway & Bridge bonds are guaranteed by endorsement as to principal and interest and are subject to sinking tund drawings, $9,000 bonds yearly at 110. See V. 54, p. 410,965. The :g;a,nsas Equ1pment bonds are guaranteed, and the issue is redeemable atra whole at any time at 110 and interest and is entitled to an annual https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A.. O. N. Y.,"centrai r July 1, 1907 Apr. 1, 1900Apr. 1 , 1990 No,. 1 , 1931 July 1, 1916 July 1, 1919 Oct. 1, 1925 Feb. 16,1891 F eb. 15,1892 June 1, 1908 Sept. 1, 1910 Aug. 1, 1922 Var. 1 95-96 May 1, 1894 Ma y 1, 1928 Oct. 1, 1927 Oct. 1, 1929 Jan. 1, 1905 Mch. 1, 1922 Mch. 1, 1909Mch. 1, 1927 Sept. 1, 1901 Mch. 1, 1903 Aug. 1, 1905 Aug. 1, 1990 Jan. 1, 1907 June 1, 1920 June 1. 1920 Feb. 1, 1922'. July 1, 1922' sinking fund of $12,000, for which the bonds may be purchased but cannot be drawn. Also guarantees $534,000 Kansas City Belt and $3,· 192,000 Kansas City Clinton& Springfield bonds-see those companies. On.July 1, 1892, bills payable for $606,070 were outstanding. LATEST EARNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 month ), gross earnings $2,172,698, against $2,122,381 in 1891; net, $600,629, against $689,729; interest, rentals, &c., $141,641, against $221,551; balance, surplus, $458,988, against $468,178. ANNUAL REPORT.-Fiscal year ends June 30. Report for 1891-92 wa in v. 55, p. 804. It js said that in the year 1891-92 some $215,000 expended for improvements was included in operating expenses. 1888-89. 1889-90. 1890-91. 1891-92. Gross earnings ........ $4,545,567 $4,937,431 $4,703,142 $4,991,278 Net earning:s .......... $1,518,057 $1,550,786 $1,313,924 $1,356,603 Interest a n.a miscell.. 994,537 1,042,549 1,068,846 1,111,644Bal., incl. other inc.. $606,578 Dividends paid........ 516,924 $569,161 566,414 --- $256,881 208,972 ----- $244,959 219,984 Balance ........... .'.sur.$89,654 def.$2,74 7 sur.$47,909 sur.$24,97~ For 1891-92 paid deficits on the Current River RR. and the Kansas City Clinton & 8pring:fl.eld RR amounting to $72,829 (V. 53, p. 186 407, 711; V. 54, p. 410,720,965; V. 55, p. 254, 804.) Kansas City & Independence Air Line.-( See Map.}-OP.erates from Kan. City to Independence, Mo., 1112 miles, of which 6 mile , affording enti·ance into Kansas City, belongs to the K. C. & Suburban Belt RR. Opened l\farch 1, 1892. Proposition to increase stock to$500,000 and to sell entire property and franchises to the Kansa Oity Suburban Belt Co.-which see-is to be acted upon Jan. 25, 1892. Stock paid in, $300,000 ; par, $100. Kansas City & Independence Rapid Transit.-Kansas City to Independence, Mo., 8 miles; opened March, 1889. Capital Stock, $~,000,000. Mortgage trustee, Central Trust Co. On Jan. 1, 1892, the bills pay able w ere $168,759. Earnings-In 1891 gross, $95,978; net. $41,740; interest on bonds, $23,125. Kansas City 1'.lelllphls & Birlllingham.-Owns from Memphis to Birmingham, Ala., 253 miles, and branches to Aberdeen, Miss., and Bessemer, Ala., 23 miles; total, 277 miles; completed in October, 1887. STOCK, TRAFFIC GUARANTY, Erc.-The stock is $5,956,000; pa.r, $100. The Kansas City Fort Scott & Memphis owns half the stock and gives a traffic guarantee of 10 per cent of gross earnings derived from business to and from this road, to be applied to interest. BONDS.--First mortgage bonds are subject to call at 110 and interest. The New England Trust Company is trustee under the mortgage; abstract, V. 46, p. 575. In September, 1891, five first mortgage coupons beginning September 1 were funded into 10-year 6 per cent notes secured by the coupons deposited in trust. See explanation in V. 53, p. 325. The Birmingham and Memphis equipment bonds are lloth guaranteed by this Co., and are redeemable on notice at 110 and interest. EARNINGS.-From July l to Nov. 30, 1892 (5 months), gross $496,207, agst. $531,635 in 1891; net, $68,288, aast. $116,975; interest, rentals, &c., $189,508, against $178,358, total def., $121,220, against deficit of $61,383. In year 1891-92 gross earnmgs were $1,174,372; net, $215,591; total net, after adding traffic guaranty, $236,477; charges, including full amount of interest on :fl.rst mort"'age bonds, which has b een funded till September, 1893, $440,071; ba'iance, deficit, $203,594. See V. 55, p. 254. Tn 1890-91 gross, $1,192,165. (V. 52, p. 39; V. 53, p. 186, 289, 325; v. 55, p. 254.) Kansas City Nevada & Fo1·t Smith.-( See.Map.J-Operates road from Kansas City to Clayton, Mo., 100 miles, of which 76 miles from Grand View to Clayton are owned, and the remainder operated under lea e. This road has been built and equipped by the :l \n~sonri Coal & Construction Company, and paid for out of the funds of s aid compa ny. No bonds have been issued, and none it is said will be until further extensions are completed and net earnings sufficient to pay interest are a sstll'e(l. Extension to Pjttsburg, Kan., under construction, the Kansas-City Pittsbtll'g & Western being the corporate name of the portion of the road m Kansas. It is to be completed early in 1893. (V. 55, p. 297.) Kansas City & Pacific.-Line of roacl, Paola to Stevens, 130 miles. Forms part of the l\fissotll'i Kansas & Texas main line to KanaasCity, havina been leased to that company for 999 years from August 1 1890. The1.essee guarantees by endorsement the interest on the new 4 per cent bonds, and if prior to Au~st 1, 1895, 30 per cent, and thereafter 33 per cent of the gross earmngs shall exceed the interest on thebonds, taxes and corporate expenses, the amount of such excess (all adYances by l\fissouri Kansas & Texas having been settled) is to be paid to the Ka11 as City & Pacific. See V. 51, p. 457. Stock is $2,500,000, of which $1,725,000 is owned by M. K. & T. (V. 51, p. 457, 494.) Kansas City St . .:Joseph. & Council Bluff"s.-Owns from Kan sas City to Council Bluffs, 197 miles, branches 58 miles, proprietary lines (Nodaway Val. and Tarkjo Val. RRs.), 61 miles; total operated, 316miles. The capital stock of $5,262,600 was purchased by the Chicago Burlington & Quincy in 1880, and the road is operated as part of that system. Con ols. Nos. 1 to 500, both inclusive, have a prior lien under the mortgage. In 1891 gross earnings were $1,892,785; net,$ 60,258; interest, $392,310; rentals, &c., $57,499; balance, surplus, $410,448; paid dividends, $388,950. Kansas City Suburban Belt.-(See Map.J-This road extends from Second Street and Broadway arotmd Kansas City, via the East https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .A.ND THE UNION TERMINAL RAILROAD. Showing Topography and Railroad Entrances of the City. INVESTORS' SUPPLEMENT. [VOL, LVI. Subscribers will confer a great favor by giving irnrnedlate notice oC any -error discovered In these Tables, Bonds-Plinol INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or Due. Amount Rate per When Where Payable, and by pal,When of Par For explanation of column headings, &c., see notes of Stocks-Last Outstanding Cent. Payable on first page of tables. Road. Bonds Value. 'fhom. Dividend. - - --- Kansas City Watkins & Gulf-1st mort., gold ... c* Kan. City W¼,andotte & N. W.-lst mort., gold.... c~ Kan. City Beatrice 1st mortgage, gold, guar.c Kearn~ & Black Hills-1st mortgage ............... Kentuc y Central- See LOUISVILLE & NASHVILLE. Kentucky & Indiana Bridge-1st mortgage, gold... I~=~~;e~~~1a~~~~:::::::::::::::::::::::::::::: New AlbanJi Belt & Term. RR. 1st M. end., gold.. Kentucky Mi l'd-1 stM., $25,000p.m.,red. atpar.c* Kentucky Union-1st mort. for $3,000,000, &old.c* 2d mortgage, income, bonds for $1,300,0 0 ...... Keokuk & Des Mo.-lst M., int. guar. C.R.I.&P ... c* Keokuk & Western-Common stock .................. Kinderhook & Hudson-1st mortgage, gold ......... Kings County Elevated-Stock ...... _________________ 1st mort., gold, series "A," $550,000 per mile .. c* 2d mortgage ($7,000,000) gold, $550,000 p. m .. c* Funded coupon scrip ............................... FultonElev.lstM~,Ser.A,$550,000p.m.,g.,~uar.c* Kingston ft Pembroke-1st M.,gold,(redem. a 105). Knoxv. Oum. Gap & Louis-lst mortgage, gold .... c* L:i ~~g1fi1:i!~!~ sout;,,::..:.isiM:tor$i,"250·,ooo~~: Inc. bonds, non-cum., g. (red. after 1897 at 106)c* Lake Erie & Western-Com. stock, $20,000 per mile Pref. stock, 6 per cent (not cum.) ($20,000 p. m). 1st mortgage, ($10,000 per mile) gold .......... c* 2d mort., for $3,625,000 ($5,000 per mile) gold.c $&£ $&£ 500 100 134 35 66 1890 1888 1889 ...... ....... 1881 --·· 1886 .... ....... 1889 1890 ---· 1,000 1888 1,000 1888 1,000 1890 1878 100 &c. 100 ...... 1889 ---100 1,000 1,000 1888 1890 --·1,000 1889 1,000 1882 1,000 1888 1,000 1889 1,000 1887 1,000 1887 100 100 ---1,000 1887 1,000 1891 2 '92 92 162 148 17 6 6 6 "3&i 113 70 70 36 36 725 725 725 725 ....... iss5 ---- ---· $1,280,000 3,750,000 400,000 (1) 5 g. J. & J. N. Y. Office, 2 Wall St. Jan. 1, 1930 5 g. J. & J. In default. Jan. 1, 1938 5 g. J. & J. In default. July 1, 1939 . ..... Boston, Am. Loan & Tr. .. .... 5 g. M. & s. N.Y.,B'k of Com.;Louis. 5 g. J. & D. do 5 g. A. & O. do 6 g. J. & D. Louisville, Ky. (1) 6 F. & A. N. Y. & Frankfort. 2,500,000 5 g. J. & J. Jan., '91, coup.last paid 800,000 .............. 6 J. & J. 2,750,000 5 A. & 0. N. Y., 13 William St. 4,000,000 2 per an. A. & 0. do do 375,000 6 g. J. & D. N. Y., Atlantic Tr. Co. 3,250,000 3,377,000 5 "i"& 6 J. & J. N. Y., .AJii: Ex."Nat. Bk. -5 g. A. & 0. Inter'st funded till 1893 3,377,000 434,700 5to6 April 1 New York. 1,979,000 5 g. M.& S. N. Y., Am. Ex. Nat. Bk. 572,000 6 J. & J. N.Y.,R.P.Flower&Co. 1,650,000 5 g. J. & D. June '92 coup. last paid 500,000 6 g. A. & 0. ·----·-··· 366,000 6 g. J. & J. ·--------1,669,000 6 g. ............... ...... 11,840,000 11,840,000 See.text. <f.::F. N. Y. Office:so·Br'dway 7,250,000 5 g. J. & J. N. Y., Chase Nat. Bank. 1,500,000 5 g. J. & J. do do 1,000,000 400,000 600,000 300,000 ---··--· Mar., 1911 Dec.,1916 April, 1919 June 1, 1920 Aug. 1, 1918 July 1, 1928 July 5, 1920 Oct. 1, 1923 Oct. 1, 1892 Dec. 1, 1909 Jan:·1,"i925 Apr. 1, 193S ~r. 1, 1900 ch. 1, 1929 Jan. 1, 1912 June 1, 1928 Oct. 1, 1919 Jan. 1, 1917 Jan. 1, 1917 Feb: "ii;: "i893 Jan. 1, 1937 July 1, 1941 .Bottoms and the valley of the Blue and Brush Creek. It provides Kinderhook & Hudson,-Kinderhook to Hudson, N. Y., 17 t-erminal facilities for the railroads centerin~ at Kansas City, and miles. Opened in July, 1890. Stock, $170,000 ; par, $100. Mortgage furnishes quick transit from the manufacturrng suburbs along the trustee, Atlantic Trust Co . .Blue Valley. By recent extensions, and in connection with the Union Keokuk & Western.-Owns Alexandria, Mo., to Van Wert, Ia., Terminal Railroad, now under construction in Kansas City, Kansas, 143 miles; operates Keokuk to Alexandria, 5 miles; was formerly the this road also reaches the West Bottoms by a system of viaducts, and Missouri Iowa & Nebraska, part of the Wabash system sold in forecloshere makes direct connection with everl. road entering Kansas City ure August 19, 1886, and reorganized under this title. from the northwest, west and southwes . It also reaches the stockMORTGAGE NoTE.-A 6 per cent note for $210,000, seeured by mort· yards, packing houses, warehouses and manufacturing establishments of the West Bottoms and of Kansas City, Kansas. On July 25, 1892, iage, payabl!I at will, is 01:1tstandinir. _DIVIDENDS-In 1888, 1 per cent; m 1891, April, 1; Oct., 1; rn 1892, April, 1 per cent; Oct. 1. consolidated with the consolidated Terminal R'y Co. of Kansas City, EARNINGS-From Jan. I to Nov. 30, 1892, (11 months), gross $369,723 and on January 25, 1893, the Kansas City & Independence Air Line Company--wh1ch see-votes on a proposition to sell its entire property against $377,127 in 1891; net, $122,112, agst. $151,679. In 1891 gross and franchises to the Suburban Belt. (V. 55, p. 995.) Stock, $2,250,- earnings were $414,274; net, $160,658; interest, $13,516; taxes, $14,000-par $100. Trustee of the Suburban Belt mortgage is the Missouri 314; construction and equipment, $12,742; dividends, $80,000; balance, $40,086. In 1890 gross, $871,674; net earnings, $141,433. G. H. Kansas & Texas Trust Co., of Kansas City. (V. 55, p. 995.) Candee, 52 William Street, N. Y., Vice-President. (V. 54, p. 524.) Kansas City Watkins & Gulf.-( See Map.J-Completed in 1892 Kings County Elevated,-Owns road in operation through trom Lake C.,'harles, La., northerly to Alexandria, 100 miles. Surveyed Fulton Street, Brooklyn, to former city line, 6·14 miles; leases Fulton 50 miles northwesterly from Alexandria and also projected from Elevated, in operation from former city limits to easterly line of aouthern terminus to Calaoien Pass on Gulf of Mexico, 25 miles. See V. 54, p. 761. At· Alexandria road connects with Houston Cent. Montauk Avenue, l!'\i miles; projected to Jamaica, 125 miles. Arkansas & Northern (Missouri Pacific), making through line to St. STOCK.-Stock authorized and outstanding, $3,250,000; par, $100. Louis and points north; also with Texas & Pacific for New Orleans and BoNDs.-J:nterest on second mortgage bonds for 1890, 1891 and the West. Bonds issued at $15,000 per mile, but this may be increased 1892 is funded into 10-year debenture scrip. This scrip receives 1 per to $20,000 for future requirements. Mortgage trustee, Farmers' Loan cent interest till April 1, 1891, then 3 per cent till April 1, 1892, then 5 -& Trust Co. Stock authorized, $10,000,000-par $100. J. B. Watkills, per cent till April 1, 1893, and thereafter 6 per cent r.early. Of the 1st President, No. 2 Wall Street, New York. (V. 54, p. 525, 761.) mortgage bonds $200,000 are 6s: trustee is Mercantile Trust Company Kansas City Wyandotte & Northwestern.-Road from of New-York. (See abstract of first mortgage in V. 49, p. 237.) The Kansas City to Beatrice, Neb., 175 miles, of which Seneca to Axtell, 10 Fulton Elevated Railroad is leased for 99 years, and its bonds guaranlJililes and Virginia to Beatrice, 14 miles are leased. Owns branches teed, principal and interest. Bills payable were $308,667 July 1, 1892 'to Leavenworlh, etc., 17 miles. Leases Tonganoxie to Carbondale, 43 against $153,000 July 1, 1891. ANNUAL REPORT.-Fiscal year ends June 30. Annual statement for 'JDiles. Total operated, 235 miles. Receiver was appointed in 1890. On June 18, 1891, a decree of fore- 1891-92, with balance sheet. was in V. 55, p. 421, showing gross earn-closure was entered, but sale has not yet been ordered. In June, 1890, ings $879,887; net, $320,270; interest on bonds, $187,016 ; other -a large interest in tne road was purchased by Mr. Jay Gould, and in interest, $30,717; taxes, etc., $39,964; surplus for year, $62,573. In May, 1892, this was increased to a majority interest in both stock and 1890-91 gross, $8_11,069. President~ James Jourd~n. (V. 52, p. 391 bonds. It is expected Mr. Gould will proceed with the foreclosure pro- v. 53, p. 256,754, v. 54, p. 204,924, v. 55, p. 421, v. 56, p. 83.) -oeedings with a view to a sale in January, 1892, or soon after. (V. 55, Kingston & Pe1nb1·oke.-Owns from Kingston, Ontario, Can., to p. 895.) Receiver's certificates outstanding, car trusts and reorganiza- Renfrew on the Canadian Pacffl.c Railroad, 104 miles; branches, 9 miles tion expenses itis said will aggregate about $800,000. V. 54, p. 889, total 113 miles. Bonds are redeemable on notice at 105. In Decem 1047. Stock issued, $2,973,000; par, $100. Receiver's certificates for ber, 1592, company was proposing to issue 5 per cent first preferred -$ 64,000 were outstanding July 1, 1891. From January 1 to November bonds. Company received nearly $1,000,000 in munieipal bonuses 30, 1892, (11 months), gross earnings were $311,837, against $275,- Report for 1889 in V. 50, p. 390. Stock, $4,500,000; par, $50. Gross 046 in 1891. In the calendar year 1891 gross earnings were $320,506; earnings, 1890, $178,864; net, $44,435; surplus above charges deficit under operating expenses, $35,688. (V. 53, p. 880; V. 54, p. 889, $6,865. In 1889, gross, $182,875; net, $48,363; surplus over interest, 1047; V. 55, p. 297, 895.) $14,043. See full statement in V. 44, p. 402. (V. 50, p. 390.) Kearne;y & Black Hllls.-Owns road from Kearney to Callaway, Knoxville Cu1nberland Gap & Louisville.-Knoxville, Tenn. Neb., 66 miles; t>pened in 1890. Belongs to Union Pacific system. with tunnel at Cumberland Gap, to a connection with the Louisville & Nashville at Middlesboro, a distance of 74 miles; branches, 7 miles Kentucky Central Railway.-SEE LOUISVILLE & NASHVILLE. Consolidation with the Marietta & North Georgia-which see-was pro Kentucl~y & Indiana Brldge.-Owns steel cantilever bridge pos11d in December, 1892. Default on 1st mortgage coupons occurred over the Ohio River at Louisville and 5 miles of railroad between December 1, 1892. Mortgage trustee Central Trust Co. The City of Louisville, Ky., and New Albany, Ind .. and 5 miles of belt line in Knoxville subscribed to $225,000 stock. Stock authorized : Common Louisville; operates New Albany Belt & Terminal RR., 2 miles; $1,575,000; preferred, $1,380,000; par, $100; paid in $2,730,000 .also owns and operates the Louisville & New Albany Ferry Co. and the EARNINGS.-ln year ending June30, 1891, gross earnings, $162,052 New Albany Street Car Co. Capital stock $1,700,000 (par $100). The net, $36,652; interest, $54,000; taxes, etc., $6,928; balance, deficit City of New Albany, Ind., guarantees the company's first mortgage $24,275. New York office. 59 Wall Street. (V. 48, p. 420; V. 51, p bonds. In 1890-91 gross earnings were $175,574; net, $103,524; in- 345; v. 55, p. 1078.) terest, etc., $100,831. Lake Erle A.lllance & Southern,-Owns from Bergholz, 0., to Kentucky Midland.-Owns road Frankfort, Ky., to Paris, Ky., Alliance, O., 36 miles. HISTORY.-Sold in foreclosure December, 1886, 40 miles; completed in 1890. Extensions projected. Stock authorized. and reorganized. In January, 1891, the portion of the road extending $1,250.000. First mortgage is for $5,000,000, trustee, Central Trust Co. trom Alliance to Phalanx, 24 miles, -was sold in foreclosure under The sinking fund begins Aug. 1, 1893, and is to be sufficient to retire the old Alliance & Lake Erie mortgage, and turned over to the Alliance entire issue by mat•uity, purchasing the bonds at or below 105, or & Northern Railroad Co. STOCK ls $3,000,000; par, $100. BONDS. dJ.·awing them at par if unpurchasable. First mortgage is for $1,250,000, and the bonds unissued are reserved Kentucky Union,-Owns from Lexington, Ky., to Jackson, Ky. for extensions at $25,000 per mile. EARNINGS.-January 1 to Nov. 301 about 92 miles. RECEIVERSHIP.-In February, 1891, Mr. H. F. Kean, 1892 (11 months), gross earnings,'.$75,732,against $68,435 in 1891; neli of New York. was appointed receiver, and in April, 1891, he was earnings, $18,379, agst. ,12,937. In 1891 gross, $75,087; net, $14,141 granted permission to complete the road to Jackson, 3 miles, and to In 1890 gross, $68,008; net. $11,762. (V. 52, p. 164; V. 53, p. 58.) issue 6 per cent receiver's certificate~ for $1251 000, of which $100,000 Lake Erle & Western Railroad.-( See Map.)-Owns from Sanoutstanding September 1, 1892. See V. 52, p. 642. In December, 1892, dusky, 0., to Peoria, Ill., 420 miles, and branch to Minster, 10 miles -road was ordered sold in foreclosure under first mortgage within 120 and from Indianapohs to Michigan City, 162 miles; also Fort Wayne days. See V. 55, p. 1078. Connorsv1lle and branch to Rushville, 133 miles; total, 725 miles. CAPITAL STOCK issued, $5,000,000 (par, $100), of which the counties HISTORY, ETc.-Company formed in 1887 after foreclosure (on Dec. of Clark and Fayette and city oi Lexington subscribed $300,000. 14, 1886,) of the Lake Erie &Western Railway. In Mar., 1887jpurohased FmsT MORTGAGE covers road and equipment. The bonds were guar- the Indianapolis Peru & Chicago Road, 162 miles, and in une, 1890, anteed principal and intereRt by the Kentucky Union Land co., which had acquired the Fort Wayne Cincinnati & Louisville. (See CHRONICLE, V . .a capital of $5,600,000, without mortgaire debt. There are also $57,000 50, p. 590.) The terminals at Indianapolis, Peoria, Fort Wayne and of 6 per cent car trusts outstanding, interest payable Q..-M. at the New Castle are operated partly under leaae. This company oontemAtl ti Tr t c (V 52 203 279 427 642 y 55 146 plates building in the future the Indianapolis & Northwestern, from c us ompany. · • p. ' ' ' : · ' p. ' Muncie to a point on the lndianapolis Division, to make a direct line 938an1078 , ·> from Sandusky to Indianapolis. See V. 52, p. 497. Keokuk & Des lnoines.-Owns from Keokuk, Ia., to Des Moines, Ia., 162 miles. Leased for 45 years from October 1, 1878, to the Chicago DIVIDENDS-On preferred stock-In 1890, '1 per cent; in 1891, 4 ill Rock Island & Pacific Railroad, the lessee to pay 25 per cent of the 1892, Feb., 1 ; May, 114; August, 114; Nov., 114; in 1893, 114 p. o. gros~ earnings, but guarantees the interest (not the principal) on the PRICE OF STOCK-Common stock in 1887, 13@24¼; in 1888, 12¼@ present bonds. The stock is $1,524,600 8 per cent preferred and $2,600, 1918; in 1889, 16@203s; in 1890, 10¼1iil9 7a; in 1891, 12¼@2418 4.00 common (par of both$100), a majority of which is held by the lessee. m 1892, 2014@27:\i; in 1893 to Jan. 20 inclusive 22¼1.v25¾ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis to JANUARY , 1am J RAILROAD STOCKS AND ·-BONDS. .M AP OF THE KANSAS CITY, WATKINS & GULF RAILWAY. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis '73 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE LAKE ERIE & WESTERN RAILROAD JANUARY, 18\:3.j RAILROAD STOCKS AND BONDS. Subscribers "W'1ll conCer a great favor by giving Im.mediate notice of any error discovered in 11be 'I'ables. RAILROADS. INTEREST OR DIVIDENDS. Honds-PrinoJ- - - - - - - - - - - - - - - - - - - - - 1 Miles Date Size, or Am t 1 - - - - - - - - - - - - - - - - - pal,WhenDue . For explanation of column headings, &c., see notes of of Par Outst~~ing Rate per When Where Payable, · nd y Stocks-Last on first page of tables. Road. Bonds Value. , ______ , Cent. Payable Whom. Dividend. Lake Sh-Ot·e & Michigan Southern-Stock ........... . Guaranteed 10 per cent stock .................... . Buffalo & Erie 1st m. (Buffalo,N.Y.,to Erie, Pa.) .c Lake Shore div. bonds (Buffalo to Toledo, O.) .... c Consol. 1st mort.sink.fnnd $250,000 yearly. c&r Consol. 2d mort. (for $25,000,000), do ...... c&r Detroit Monroe & Toledo 1st mortgage, guar.. . c Kala.mazo & White Pigeon lat mort., guar....... c Bat. qr. & Stur. 1st M.:., g., ~nar. p. & i. (see ~I.Oen.) Sturgis Goshen & St. L. lsli mort., g., p. & 1. guar. Kal. Allegan & Gr. Rapids stock, 6 p. c. guar .... . 1st mortgage, guaranteed ...................... c Jamestown & Franklin (leased) 1st mortgage .... c M;~:!gtt:i· stock.·.·.·.·.·.-.-.·_·_-.-.-.-.-.-.-.-:::::::::::::~ Preferred stock, guaranteed 5 p. c. See text ... 1st M., Youn_JSs. to And., etc., guar. p.&i.(end).c Leav. Top. & S. w.-lstM.,½guar.byAt.&12byUn.P. Lehigh & Hudson River-1st M.,g.,int.red'c'd to 5p.c. ~a~~l~!ney 1 ·t & 2,i"Ms.-($2·,fo;ooo ·2cis;fai2i Wawayanda RR. 1st mortgage ........ . .......... . Leh. & Rud. River Con.M.for $3,000,000,gold .. c" Lehigh cf Lackaivannar-lstmortgage .............. c Lehigh Valley-Stock ($106,300 is 10 p. c. pref.) . . . 1st mortgage, coupon and registered.............. 2d mortgage ............. .. ......................... r Con. M., sterling, g.,s.f.2 p.c.y'rly, dr'n at 11ar.c&r do coup. and regis., $5,186,000 are 412s.Mr,rl do annuity, $2,114,000 are 4½s... .. .. . . . . . . ·ss 258 864 864 62 37 41 29 58 58 51 51 43 43 43 46 41 63 22 63 25 101 101 285 2 5 285 $100 $49,466,500 See text. F. & A. N.Y.,GrandCen t. Oft'.~ · 1, 1893 100 533,500 10 per an F. & .A. do ,fo 1, 1893 7 A. & 0. 2,756,000 1868 500 &c. Apr. 1, 1898 7 1,000 A. & 0. 1,355,000 1869 pr. 1, 189Q 7 1,000 15,38!l,OOO Seerem. 1870 ' J uly 1, 190 7 1,000 24,692,000 J. & D. Coupon s a,r,3 paid! Dec. 1, 1903 1873 1,000 924,000 1876 7 F. & A. by Trea surer a!Aug. 1, 19 5 g. J. & J. Gr a nd C en ra) 1 ,Tan. 1, 194 1,000 400,000 1890 79,000 1889 3 g. J. & D. Depot, New York, •i Dec. 1, 1989 3 g . J. & D. 322,000 aml r egiste:ced in1889 D ec. 1, 1989 ·ioo terest by Union Oct. 1, 1892 610,000 6 per an. A. & 0. 1888 5 1,000 J. & J. 840,000 Trust Compainr. : J uly 1, 193 7 J. & J. 298,000 1863 1,000 Var. to J'ly,'97 7 J. & D. Juno 1, 1894 1869 1,000 500,000 1,500,000 Se e text. F. & .A.. N. Y., Gr'd Cent. Sta t':c J•'eb. 1, 1893 50 50 661,850 5 11er an. J. & J. N . Y ., Union T rn. t ( \1 Jan. 1, 1893 5 J. & J. clo 1884 clo 1,000 , .Tuly 1, 1934 1,500,000 4 g . J. & J. Boston,Arn.L'n &Tr.C,:. I J uly 1, 191 1882 1,000 1,380,000 5 J. & J. N. Y., Nat. E xch. Ba::...i! l Jnly 1, 1911 800,000 1881 1,000 5 J. & .T. do d.,, J uly 1, 1917 209,32 0 1887 1,000 6 A. & 0. do <ht I 1 900 & 1912 385 ,000 '79-'81 500 &c. 6 J. & J. do d•, ! J au. 1, 1900 6 5 ,000 1880 5 g . J. & J. <lo ci_,J _ , .July 1, 192 1,000 5 8 3,000 1890 7 J. & D. l hila.,Fid.I.& 8 .Dep .<. ll Deo. 1, 190', 1,000 100,000 1877 50 40,-141,310 See t ex t. Q.-J. ,Pllila. , 228 So. Tllird ~: J a n. 16, 1893 1,000 5,000,000 1868 6 J. & D. IRe~.ato tlice; cp Bk.~ -~- .rune 1, 189 7 l~I. & S. Pllila. Of., 22 8 So. 3d :=~ Sept. 1, 1910 1,000 6,000,000 1870 6 J. & D. do d•> 1,000 D ec. 1, 1897 1,631,000 1873 1,000 13,993,000 -t½ & 6 1J. c ' D. IReg.atofficc;cp .BkS .A.: Dec. 1, 1923 1873 1,000 7,307,000 4½ & 6 'J. & D .+"Phila .. Of.,22 8 So. :.>fl:-~. 1rrefleemable_ 1873 I I CONTINGENT LIAHILJTIES - .Leh.Val. of N.Y., lstM., gold, g_u. p. & i.(end.)c*&r Lehigh Val. Term'al lstM. gola (guaranteed).c*&r I 25 1890 1891 1,000 1,000 Preferred stock.-In 1887, 39~1il61; in 1888, 40 141il55 7s; in 1889. 513s1il66¼; in 1890, 441i>68; in 1891, 531i>70; in 1892, 69 14 '@80; in 1893, to Jan. 20 inclusive, 761ii82. BoNDs.-Abstract of first mortgage (Central Trust Company and A. L Mason, trustees), in V. 46, p. 45. In June, 1890, it was voted to authorize $3,625,000 of 2d mortgage bonds ($5,000 per mile) of wbich $1,500,000 have been issued. The trustees of this mortgage are Cent. Trust Co. of N. Y. and Robt. C. Bell of Ind. Full abstract of second mortgage was in V. 54, p. 444. EARNINGS.-From January 1 to Nov. 30 (11 months), in 1892, gross earnings were $3,242,313 against $2,959,535 in 1891; net, $1,462,166, against $1,292,932; interest, rentals, etc., $581,140, against $474,530; balance, surplus, $881,026, against $818,403. ANNUAL REPORT.-Fiscal year ends December 31. Annual meeting is held at Peoria on :first Wednesday in October. The annual report for 1891 was in V. 54, p. 559. The following includes the Fort Wayne Cincinnati & Louisville. 1889. 1890. 1891. Gross earnings ................. $2,839,278 $3,074,438 $3,273,355 Net earnings ................... $1,116,249 $1,275,656 $1.447,897 Interest on bonds.............. 303,000 332,750 363,771 Taxes and rentals............. 139,320 146,503 155,068 Dividends ...................... (1%)118,400 (4%) 473,600 (4%)473,GOO 15,000.000 10,000,000 I ' 412g. J. & .r. ;x.Y.,Mer ch . N E!-:.& r 1,_; J uly 1, 19-! 5 ,:r. A. & 0. do cf.,, net. 1, 1941 OPER.ATIO::SS .-L'-'D H , C.AL RESULT"-. 1 9. 18 90. l:3!t1. 1892 (e;.t.} Miles operate d 1,4 10 1,445 .4c~ '", Total gross earnings $19,4 7,19 6 $20,8 65,760 $ 21,43 1,385 $ 22,4 30,00 Oper. exv. & taxes. 12,847,.J. 5 2 14,220,48 1 H,,63 ::!,G75 15 , '..',t",,000 ~ ct earnings .... $6,639,744 $6,645,279 $6,798 ,71 0 $6,630,00 : 6 ~·27 70·,,l,7 65·93 P.c.of op.ex.to ear'gs 68·15 Net,iucl. oth. inc'me $7,022,285 $7,144,037 $7.25-1,333 $7,065,350 Rentals paid ....... . $307,645 $561,419 $55 7, 1 53 i 3 7 ,1') 000 Interest on debt .... . 3,225,723 3,2--15,015 3,2Q.l,~~70 I ' :-•,., 53,350 Divid's on guar. s'k. 53,350 DJ.o50 o3,v5 Total disb'sem'ts $3,806,010 $3,843,492 $3,8 1-1, 73 $3,795,350 Surplus for diYidcnd 3,216,275 3,300,545 3,439.460 3,270,000 Dividends ........... (5)2,473,325 (6)2,967,990 (6)2,06 7,990 /6)2,967,99 Surplus........... . . $742,950 $332,555 471.45 0 $302,01 -tV. 52, p. 280, 321, 716,761,796,973; V. 53, p . 2 !:t, 7 !)3, !)68; V. 54,. p. 367, 742, 760, 845; V. 55, p. 5, :.cl, 337, 895, 107 ~.l Lcave1nvorth Topeka & ~ . W . -Owns fro m · · :-..venworth to Meriden Junction, in Kansas, 47 miles. Operated H part of the St. Joseph & Grand Island Division of the Union P a cific it s stock ($1,Balance, surplus........... $555,519 $322,803 $455,479 380,000) being owned one-half each by Union Pat iti(; and AtcWsou Betterments.................... 441,201 223,256 216,509 Topeka & Santa Fe. Of the bonds $690,000 are guarameed by Union Calvin 8. Brice, New York, ·President.-(V. 52, p. 49'7; V. 53, 407, Pacific, the balance by Atchison. Accounts pay able we1·e $866,877668,604,712; v. 54, p. 443,414, 559.) Jan. 1, 1892. In 1891 gro s $30,164; deficit from o rn,tmg, $43,149 (again t $53,035 in 1890); deficit under cha r ges, "10:- 857, against.. Lake Shore & lU!chigan Southern.-(See Map New York Oen- $118,507 in 1890. tral & Hudson Rive,·.J-Owns from Buffalo, N. Y., to Chicago, Ill., 540 miles; branches, 319 miles; total owned, 859 miles. Proprietary lines Lelaio-h & Hudson Rtver.-Owns from Greycmi:-t, on Erie Roacf (entire stock owned) Detroit & Chicago, 68 miles; Detroit Monroe & to B elvi'ciere, . J., 63 miles. Proprietary line-Hudson Junction t Toledo, 62 miles; Kalamazoo & White Pigeon, 37 miles; Northern Cen- Maybrook, N. Y., on line to the Poughkeepsie Bridge, 11 miles; tracktral (Mich.), 61 miles; Sturgis Goshen & St. Louis &c., 36 miles; age Penn.syl vania RR., Belvidere to Phillipsburg, 13 miles ; other mile-total, 263 miies. Leases Kalamazoo Allegan & Grand Rapids, 58 miles; acre, 3 miles; total operated, 90 miles. In August, L 88, the Central Jamestown & Franklin, 51 miles; Mahoning Coal RR., Youngstown to oF New Jersey purchased about one·tbird the compan y's stock, and Andover, 0., and branches, 50 miles; Detroit Hillsdale & Southwe tern, this, with the stock held by the Lehigh Coal & N avi"'n.tiou Co., controls 65 miles; Fort Wayne & Jackson, 98 miles; total, 322 miles. Total road the road. Car trusts, 6 per cent, $4c7,430. Stock, $1,340,000; par, $100. owned, leased and operated Jan. 1, 1892, 1,445 miles. The general mortgage for $3,000,000, (trustee, Central TJ'u st Company of New York), covers the stock of tlle pt·opriet r y line , a,ncl $1,750,000 ORGANIZATION, &c.-This company was a consolidation of the Lake bonds are reserved for prior bonds when due. aLoans ~ n,~ bills payabl Shore RR. and Michigan Southern & Northern Indiana RR., May 27, were $296,923 OctolJcr 1, 1892. 1869, and the Buffalo & Erie RR., August 16, 1869. The Mahoning From Jnly 1, 1892, to Nov. 30, 1892 (5 months), gro s eurnings wer& Coal RR. is leased in perpetuity at 40 per cent of IToss earnings, and $227,317, against$176,485 in 1891; net, $ 8 7,627, a gail.!st $83,984. its preferred stock and bonds guaranteed ; Lake s'hore owns $865,900 In year June 30, 1892, gross earnings w er e $891,343; net, of its common and $399,500 of its preferred stock. The N. Y. Chic. & $185,078; ending interest on bonds, $109,630; other inter e. t , ~;18 ,549; credit St. Louis (Nickel Plate) road has been controlled by ownersWp of items, $5,199; balance, urplus, $62,098. Cn 1 890-9 1 n et, $143,435; stock since 1882, Lake Shore now owning $6,240,000 of its common, surplus over charge,-,, $33,704. Grinnell Burt, Pre io.c,nt, 80 Broad$6,275,000 of its 2d preferred and $2,503,000 of its 1st preferred stock. way, N. Y. City. (V. 53, p. 714, 8'79; V. 54, p . 2 9 , 88e; v. 55, p. 298, The company owns also (besides the entire stock of the proprietary 543,935, 1076.) lines) $2,000,500 Pittsburg & Lake Erie stock and $169,100 common and $774,400 preferred Cleveland Lora.in & Wheeling. Lehigh Valley.-(See 1lfapJ-Main line1 New rk, _ . J, t o Buffalo Y., 443 miles; branches to Audenried, Tomhicke11, Hazleton, CAPITAL BTOCK.-The stock has remained at $50,000,000 since N. &c., 450 miles; Southern Central RR., 114 miles ; State LJ.ne & Sullivan 1871. The guaranteed stock of$533,500 carries 10 per cent dividends. RR., 24 miles. Total system, November 30, 1891, 1,0::n miles; second The Mahoning Coal preferred stock certificates contain a clause making track, 337 miles. Trackage: Pennsylvania. RailroacJ~ 50 miles; them redeemable at par at option of Company; but it is understood the New York Central, 15 miles; Central of New J ersey, 21 miles. Com company will not exercise the option. pany opened a through line of its own from New York j() Buffalo Sept. DIVIDENDS.-On common stock since 1876; in 1877, 2; in 1878, 4; in 1, 1 92, and discontinued the trackage of 188 mile,:; o,c1 :l•" Erie. (Be 1879, 6½; in 1880, 1881, 1882 and 1883, 8 per cent each year; in 1884, v. 50, p. 834.) 7; in 1885 and 1886, nil; in 1887 and 1888, 4 per cent; in 1889, 5; in LE.ASE.-In 1892 the Lehigh Valley was leaeed : -:.lie Reading 1890. 5; in 1891, 612; in 1892, Feb., 219 and 1 extra; Aug., 3; in 1893, for 999 years from December 1, 1890, t h e R ead in guaranteeing February, 3 per cent. Mahoning Coal common stock paid in 1889 4½ per cent; in· J 890, 5 114 per cent on the stock in July, 1892, 112 per cent lJ th in October 1892,.and Jan., 1893, and thereafter 1~ qua rterly (7 1~ o yearly), and.in Feb., 1891, 4½; in 1892, Feb. 519, August 3; in 1893, Feb., 5 p. c. agreemg to turn over to this company one·half the surplus earnings PRICE OF STOCK.-Tn year 1884, 59½1il104~; in 1885, 50~·@897s; above the guaranteed 7 per cent dividends up to 10 p er cent, after in 1886, 761s1il1003s; in 1887, 891il98~; in 1888, 85141il104 78 ; in 188lJ, which the Reading retains profits. See V. 54, p . ,88. Suits have 99~1ill08½; in 1890, 1011illl41s; in 1891, 105½x1il127; in 1892, been brought to set aside the all lease-see references b el . . 1201il140½; in 1893, to Jan. 20, inclusive, 127½1il132. COAL PROPERTY.-The Lehigh Valley Coal Company owns 22,723 BoNDS.-[nterest on the consolidated firetmortgage is paid on coupon acres of anthracite coal lands and leases 13,092 acres. lt a lso owns a, .. bonds J. & J., on registered bonds Q.-J. The first consolidated mortgage bonds or the bonds prior thereto are majority of the stock in other corporations owning 14.,2 59 acres. The redeemed each year by $250,000 contributed to the sinking fund. The Lehigh Valley Railroad Company owns 3,619 acr es of ooal lands. All . above bonds of all classes outstanding are given less the amounts held of the stoc_k of the Lehig~ VallJY Coal Company is own e a y the Lehigh in the sinkinjr funds, which amounted to $5,500,000 Sept. 1, 1892. Valley Railroad Co., but its $000,000 of 5 per cent bon {:>J <111e ~nuary, . Clev. Paines. & Ash. 7s for $569,000 were paid in 1892, and $319,000 1910, are not guaranteed by that company. consol. 7s were issued. DIVIDENDS.-On common stock since 1880-In 1881, ¼; m 1882, 6¼; GENERAL FINANCES, &c.-Tbis is one of the so-called Vanderbilt ln 1883 and 1884,8; in 1885,6;in1886,4 ; in 1887, 4 ¼ ·; from 1888 , roads. It has a large business but is greatly dependent on through to July, 1892, both inclusive, at rate of 5 per oent yea.ly ; in Oct., 112 , traflio, or traffic from competitive points. per cent; in 1893, Jan., l½ per cent. (See terms of leas above.) Nothing bas been charged to construction or equipment account since PRICE OF STOCK.-Common in Philadelphia-in 1884, 57@717s; in 1883, the outlays therefor charged to operating ex.I,)6nses amounting in 1885, 54¼1i>61¼; in 1886, 55¼1il62; in 1887, 53 7s1il57% ; in 1888, 1891 to $1,330,000, this being exclusive of expenl'Utures for renewals. 51¼1il57 7a; in 1889, 521il55; in 1890, 471i11il541s; in 1891, 457s1iJ5114; ANNUAL REPORT.-Fiscal y-ear ends December 31. Annual meeting ln 1892, 50 141il62½; in 1893 to Jan. 20 inclusive, 5634'@5 14,. is held the first Wednesday m May, at Cleveland. The annual report for 1891 was published in V. 54, p. 760. See also v. 54, p. 742. BoNDs.-The consolidated mort. of 1873 (trustee, Fidelity Insurance,. Advance statement for 1892, December partly estimated, was iu V. 55, Trust & 8. D. Co. of Phil.) is for $40,000,000, of which $12,000,000 are p. 1078. , reserved to retire $1~,000,000 prior liens when d ue. e bonds ar& https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE LEHIGH VALLEY . · RA.ILROAD AND CO"NNECTIONS. ~ ~y . RAILROAD STOCKS AND BONDS. J~.NUARY, 1893,J Subscribers -will conf'er a great favor by giving ilnmedlate notice of any error. discovered in these Tables. RAILROADS. INTEREST OR DIVIDENDS. Bonds-PrinolMiles Date Size, or Amount - - - - - , - - - - - - - - - - - - - - - 1pal,When Due. For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable, and by Stocks-La.st on fl'rst page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. Lehigh Valley-( Ooncluded.JPennsylvania & N. Y.-lst M. end. by Leh. Val.c* 1st mortgage, endorsed by Lehigh Valley .... c* Gen. mort.,$10,000,000, guar.prm. &int.(end.)r Easton & Amboy, 1st M.guar.Easton to P.Amboy Delano Land Co. bonds, gold, guar. p. &i. (end.) .. Morris Canal stock, 4 p. c., guar. 999 ye ar!l ... .. . . Pr, ferred stock, 10 p. c., guar. 999 y ear s .... .. . Litchji,etd Oarroll.& West.-1st¥. ($10,000 p.m.) ,g.c* LUlle Falls & J.Jodgeville.-l st mortg a ge, gold ... . c* Little Miamir-Stk. com., gu. 8 p. c. 99 yrs.P.C.&St.L. Street con. 1st & 2d Ms. (jtly. with Cin. & I. RR.) .c Renewal morti::tage ........ . ....................... c Little Rock & Memphis-First mortgage, gold ...... c Little Schuylkill.,-Stock . ............................ . Long Island-Stock ...... ........................... . 1st mortgage, main line .......................... c* ~i:~rft.~~ ·<$i;3oo,ooci i-eiierv;<i ror i>iior·b; <isi ~: General mort1t,age, gold ...................... . ... c* Metropolitan .1rnrry Co.lstmort.,gold,red. at 110. L. I. RR. mort. on ferry for $2,750,000, gold ... c* New York & Flushing 1st mortgage, assumed ... . Brooklyn & Monta.uk 1st M., $250 000 a.re 6s .. . c* Second mortgage, gold, assumed .............. o' Long Island City & Flushing 1st M,. assumed .. c~ L. I. C. & Flushing, con. mort., gold, assumed .. c' New York & Rockaway 1st mort., int. only guar.. Smithtown & Port Jeff. 1st M., guar. p. & i. (end.) L.I.RR.NorthSh. Br. consol.M.$1,500,000,guar.c* Los Angeles Terminal-1st mortgage .............. . Louisiana Western-1st mortgage, gold ............ . LouiS'fJ. E'DanstJ. ~ St. L. Oonsol.-lst mort. E.R.&E. 105 105 105 60 1866 1866 1888 1880 1892 52 12 188 6 1891 ..... 2 1864-8 84 1882 135 1887 28 .... ·94 158 180 180 2 76 76 23 23 ·19 19 48 112 72 1868 1878 1881 1888 1887 1892 1880 1881 1888 1881 1887 1871 1871 1892 1891 1881 1881 $1,000 $1,500,000 7 J. & D. Phila., Bk. N. America. June 1, 1896 1,000 1,500,000 7 J. & D. do do June 1, 1906 1,000 7,000,000 4 & 5 A. & 0. Phila., Lehigh Val. RR. Apr. 1, 1939 1,000 6,000,000 5 M. & N. Phila.i Of., 228 So. 3d·St. May 1, 1920 1,000 1,200,000 5 g. J. & J. ao do Jan. 1, 1932 100 1,025,000 4peran F. & A. do do Feb. 1, 1893 100 1,175,000 lOperan F. & A. do do Feb. 1, 1893 1,000 516,000 6 g. J. & J. N. Y., Am. Ex. Bk. Jan. 1, 1916 100 &c. 250,000 6 g. J. & J. N. Y., Metropolitan Tr. July 1, 1921 50 4,943,100 8 per an. Q.-M. Cinn.,Office, 1st Nat.Bk. Dec. 10, 1892 1,000 525,000 6 Various do do 1894-1898 1,000 1,500,000 5 M. & N. N. Y., Bank of America. Nov. 2, 1912 1,000 3,250,000 5 g. M. & S. N.Y.,MoranBrs.,68Wm Sept. 1, 1937 50 2,487,850 7 per an. J. & J. Phila., Of., 410 Walnut Jan.13,1893 50 12,000,000 5 per an. Q.-F. N. Y.,CorbinBank'gCo. Feb. I, 1893 500 1,121,000 7 M. & N. do do May 1, 1898 100 &c. 7 F. & A. do do 268,703 Aug. 1, 1918 1,000 3,610,000 5 g. Q.-J. do do July 1, 1931 1,000 3,000,000 4 g. J. & D. do do June 1, 1938 500 &c. 1,250,000 5 g. M. & N. do do Nov. 1, 1937 1,000 1,500,000 412g. M. & 8. do do Mch. 1, 1922 1,000 125,000 6 M. & 8. do do Mch. 1, 1920 do do 1,000 1,000,000 . 5 & 6 g. M. & 8. Mch. 1, 1911 1,000 600,000 5 g. J. & D. do do June 1, 1938 6 M. & N. do do 1,000 600,000 May 1, 1911 1,000 5 g. M. & N. do do 650,000 May 1, 1937 500 7 A. & 0. do do 250,000 Apr. 1, 1901 7 M. & S. do do 500 75,000 Sept. 1, 1901 1,000 5 g. Q.-J. do do 1,075,000 Oct. 1, 1932 5 J. & J. . ........ . 1,500,000 1931 1~000 2,240,000 6 g. J. & J. N.Y., 8. Pac.Co., 23 B'rd July 1, 1921 1,000 6 J. & J. N. Y., Security & Tr. Co. July 1, 1921 900,000 issued in three series, of which the sterling issue, "class A," is subject to call at par in increasmg amounts each year, $285,000 being the amount payable in 1892. A second series is composed of the "coupon and reg• istered" bonds, which are not subject to call, but which prior to Nov. 13, 1893, may be converted at option of holders into bonds of the third series, these last being annuity bonds and irredeemable, never falling due except in case of default. All these issues are equally secured. LEHIGH VALLEY RAILWAY COMPANY OF NEW YORK.-Owns a road which e:x:rends from Buffalo, N. Y., to Sayre, Penn., 283 miles double track. The company's stock is all owned by the Lehigh Valley RR., which guarantees prmcipal and interest of the 412 per cent bonds of 1890, this guaranty being endorsed on the bonds. Trustee of mortgage, Girard Life Insurance Company, Philadelphia. (See mortgage abstract V. 51, p. 114, and V. 54, p. 203, 965.) LEIDGH VALLEY TERMINAL RAILWAY.-Owns the road from South Plainfleld,N. J., to Jersey City, withabout125 acres at Jersey City and a large water front there and other property; its stock of $10,000,000 is owned by the Lehigh Valley RR. (See V. 53, p. 640, 880.) The mortgage is for $10,000,000, coverin~ the road and terminal property; Central Trust Co. of New York, truswe. The bonds are endorsed with the Lehigh Valley's guaranty of principal and interest. MORRIS OAN.AL.-Leased for 999 years and dividends guaranteed. Bonds all owned by Lehigh Valley. Canal no longer used as such, but water-shed supplies city of Newark with water. See V. 50, p . 137. PENNSYLVANIA&NEWYORK CANAL & RAILWAY.-Leasedfor99years from December 1, 1888, to Lehi~h Valley, which has assumed its debt and owns all its stock. Under its general mortgage of 1889 (trustee, Girard Life Insurance Company) sufficient bonds are reserved to take up prior bonds when due. LATEST EARNINGS.-Dec. 1, 1891, to Oct. 31, 1892 (11 months), gross, $16,735,274, against $15,590,116; net, $4,404,899, against $3,476,096. ANNUAL REPORT.-The fl.seal year ends November 30. The report for 1890-91 was in the CHRONICLE, V. 54, p. 158. For t he year 1891·92 no statement of earnings, etc., was furnished t h e stockholders at the a nnual meeting, but the l essee reported at its a nnual meeting that the traffic earnings of the Lehigh Valley system increas ed by about $1,- !~: ~~J\~e Loll$?; Island.-Owns from Long Island City, N. Y. to Greenport, N. Y.,H5miles; Lon~ Island City to Great Neck, 14nill'es· Bushwick to Sag Harbor, 97 miles; branches, 82 miles; total owned, 288 miles. Operates North Shore Branch road (formerly Smithtown & Port Jefferson RR.), 19 miles; leases-Stewart's RR. to Bethpage, 14 miles; Stewart's RR. to Hempstead, 2 miles; New York & Rockaway RR., 9 miles; Brooklyn & Jamaica RR., 10 miles: New York Brooklyn & Manhattan Beach Railway and branches, 20 miles; total leased, 74 miles. Total of all. 362 miles. ORGANIZATION, STOCK, ETc.-Control was acquired in December, 1880, by the "Long Island Company," controlled by Mr. Austin Corbin and others. In July, 1881, the stock was increased from $3,260.700 to $10,000,000, and afterward in 1889 to $12,000,000 in order to absorb the Brooklyn & Montauk. Stockholders vote Jan. 24, 1893, on proposition to act1uire a controlling interest in the stock of the Prospect Park & Coney Island-which see-and V. 56, p. 42. DIVIDENDS.-ln 1882, 1; from 1883 to 1890, bota inclusive, at the rate of 4 per cent per annum; in 1891; 412; in 1892, February, 114; May, 114; August, 114; November, 1 14; in 1893, February, 114 per cent. PRICE OF STOCK.-ln 1887, 85'@99:\i; in 1888, 8712'@95; in 1889, 8912'@9612; in 1890, 82'@95; in 1891, 86'@9914; in 1892, 95'@112; in 1893 to Jan. 20 inclusive, 10512'/vll712. BONDS.-Tbe Central Trust Company is trustee of the general mortgage or 1888. There are also $241,700 real estate mortgage 5s to 7s. The ferry mortgage for $2,750,000 covers all the real and personal pro.p erty pertaining to the company's ferries (34th Street and James Slip); $1,250,000 bonds being reserved to retire the Metropolitan Ferry mortgage. Trustee Central Trust Co. See V. 54, p. 597. The L. I. RR. North Shore Branch Co's. bonds are unconditionally guaranteed as to principal and interest, and are so endorsed. Of the $1,500,000 authorized, $400,000 were for the construction of a twelvemile extension. V. 55, p. 322. GENERAL FINANCES.-The James Slip and 34th Street ferries were purchased in 18!J2, and debt increased by $2,750,000 therefor. Loans and bills payable were $131,813 Sept. 30, 1892. EARNINGS.-July 1, to Sept. 30, 1892 (3 months), ross, $1,522,293',. against $1,469,926 in 1891; net, $645,897, agains $663,131; other income, $59,796, a~ainst $22,791; interest, rentals and taxes, $238,043, against $222,087; oalance, surplus, $467,650, against $463,835. ANNuAL REPORT.-Fiscal year ends June 30. Annual meeting is held the second Tuesday in April. R eport for 1891-92 was in V. 55, p. 502. 1890-91. 1891-92. Gross ~arnings . .................. _.......... _..... $4,061,899 $4,171,524 Operating expenses ..................... . . . . -· ... 2,529,239 2,734,416 ~io~0e0d~':f~~ n~~h[~~i~ui~~1~s s,!~~ :~eilii:e~~f!~ ~} business from the Erie Railway, early in September last. The saving in rentals paid that company considerably exceeds the interest charges upon the $15,000,000 Lehigh Valley Railway Company and the $10,000,000 Lehigh Valley Terminal Railway Company bonds." In year 1891-92 funded debt increased $3,802,000 (net) and debt guaranteed $8,050,000. Year ending No'O. 301888-89. 1889·90. 1890-91. Gross receipts .. _........... $16,674,964 $17,432,007 $18,910,261 · Net earnings ............ _............... _..... $1,532,660 $1,437,108 Operating expenses ......... 11,419,383 11,951,771 13,075,910 Total net, including other income.-···· ··-··· . . . $1,593,257 1,518,246 Interest on bonds.. ........................... . ... 528,043 556,705 $5,480,235 Total net income .•..... $5,255,581 $5,834,351 130,878 $2,651,120 Interest on debt...... . . . . . $2,168,571 $2,817,240 178,603 694,258 723,510 Interest and discount ..... ·-··................... 25,191 28,874 ir~J::irse~~~~•. .t~~~~: 2,027,370 2,070,370 Dividends ........................................ (4) 480,000 (5) 600,000 ~~l: 2,ii~;~g~ Total disbursements .... $5,132,541 $5,372,748 $5.568,120 :Balance, surplus....... .. . . . $123,040 $107,487 $266,231 (V. 53, p. 289,640,880; V. 54, p. 33,158,203,367,761, 867, 889, 965; V. 55, p. 178,216,256,331,678,996; V. 56, p. 125.) Little Mia.m l.-Owns from Cincinnati, 0., to Springfield, O., 84. miles; branch, Xenia, 0., to Dayton, 0., 16 miles ; leases, Columbus & Xenia RR., Xenia, 0., to Columbus, Ohio, 55 miles ; Dayton & Western RR., Dayton, 0., to Indiana State Line, 38 miles ; Ohio State Line to Richmond, Ind., 4 miles; Cincinnati Street Connecting RR., 2 miles; total operated, 196 miles LEASE.-011 Dec. 1, 1869, leased to Pittsburg Cincinnati & St. Louis, (now Pittsburg Cincinnati Chicago & St. Louis) for ninety-nine yea r s, renewable forever. The Pennsylvania R ailroad Company is a party to the contract and guar antees its faithful execution. Rental is 8 per cent on $4,943.100 stock and interest on debt. In addition to- above bonds there is $100,000 6 per cent permanent capitalized debt; interest January and July. Lessee's r eport for this road shows net loss to lessee: In 1886, $468 ,680; in 1887, $298,405; in 1888, $421,355; in 1889, $385,873; in 1 890, $384,451; in 1891, $373,304. The Little Miami C . does not admit these losses. In January, 1890, stockholders voted to authorize the issue of $3,000,000 7 per cent bonds (to be issued to the lessee from time to time in payment for betterments), and also $3,000,000 stock, into which the bonds shaJl be convertible. Negotiations with lessee are still pending, and no convertible bonds had been issued prior to March 15, 1891. (V. 49, p. 300, 434, 580,789; V. 50, p. 71, 174; V. 51, p. 51. Little Kock & JJiemphis.-Owns from Little Rock, Ark., to Mississippi River, opposite Memphis, 135 miles. The Memphis & Little Rock Road was sold in foreclosure in 1872, again in 1877 and again in 1887. See description of property, balance sheet, etc., in V. 55, p 59. Stock, $3,250,000; par, $100. From January 1 to Aug. 31, 1R92, gross, $354,943, against $408,632 in 1891. In 1891 gross earnings were $709,083; net, $186,345; surplus over charges, $26,844. Rudolph Fink, President, Memphis, Tenn. <V. 54, p. 1048; V. 55, p. 59.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis i:~t!is:: :: ::::::::::::.-.-.-.-.-.-.- .·.·.·_·_-.-.·_-.-.·.·.·_- ·_-.-~:::: l~g;gi~ B alance, surplus . ...... . ...................... $253 .lG:; $23,186 -(V.52,p.280,571,608,707,718,832;V. 53,p.95.368,435,714;V. 54, p. 289,597,846; V. 55, p. 22,146,322,502,857, 1036;V. 56,p. 42.) Los Angeles Te1·mi11al.-Owns 48 miles of road connecting Los Angeles , Cal., with Pasaden a , East San Pedro and Verdugo. Also operates road to .A.ltadena, 6 miles, and Monrovia, 17 miles; total, 71 ~iles . Complet ed as now i~ 1892. Stock ~uthorized, out.standing, $3,000,000; par, $100. President, Geo. B. L eighton, St. Loma. Louisiana Western.-(See Map of Soitthern Pacijlc.)-Owns from Lafayette, La., to Orange, Texas, 112 miles. Operated under lease by the Southern Pacific Company, being part of the through line between New Or.eans and Houston. The lessee pays all charges and turns over to this company 7 per cent of the total net profits of the Southern Pacific Company, under the omnibus lease. From January 1 to Nov. 30, 1892 (11 months), gross earnings were $984,606, against $956,808 in 1891; net, $485,741, against $399,210. In 1891, gross, $1,061,676; net, $457,815; surplus over charges, $308,554; amount of net profit due this company as per lease, $169,351. In 1890, gross,1, $1.160,331; net, $586,094. Stock is $3,360,000 (par $100), all but :t,50,000 of which is owned by Southern Pacific Co. Louisville Evansville & St. Louis Consolidated.-( See Map of Evans'Oille & Terre Haute Railroad.J-Operates from Louisville, Ky to East St. Louis, ill., 275 miles, with branches to Evansville, Rock~ port, Cannelton, etc., in Indiana, 93 miles ; total, 368 miles, of whioh 353 miles owned and 15 miles tracka"'e. Also owns Venice & Carondelet Rail way, leased to East St. Louis Connecting Rail way, 7 miles. Portions main line operated under trackage rights; Louisville to New Albany, 6 miles; Walnut Hill to Centralia, 712 miles. ORGANIZATION.-This company is a consolidation made in 1889 of th& Louisville Evansville & St. Louis and several other companies. It belongs to the " Mackey" system. CAPITAL STOCK.-Common stock issued, $3,440,747; preferred$1,295,262, 5 per cent, non-cumulative; par, $100. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis SUPPLEMENT. RAILROAD SYSTEM. [VOL. LVI. .Subscribers -will comer a great t"avo.r }Jy gfvtng Im.mediate n9ttee 9t :any error discovered in these Tables. RAILROADS. INTEREST OR DIVIDENDS. Bonds-Princl Miles Date Size, or Amount pal,When Due. For explanation of column headings, &c., see notei; of of Par Outstanding Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. - - - - - - - - - - - - - - - - - - - - - - - - - - - - -11------1----1----1----------·1-----L. E. d: St. L.-(Oont.)-lstM.,g.,(lston182m.,2do 82 1886 2d mortgage, gold, unassented .. ...... .... .. . ... c* 182 1886 Hunt. Tell. City & C. RR. lat mort. gold, guar.c*1 24 1887 Illinois & St. Louis lat mortgage .. .......... ... . c*1 20 1875 Venice & Carondelet mortgage, guaranteed .... c* .... 1880-2 L. E. & St. L. consol. mort., gold ($8,000,000) .. (" 386 1889 .... Loiiisville <I: Nashville-Stock........................ . ... Lebanon Br., junc. to Jellico, Louisville loan ... c* 171 1863 Consol. 1st M. (prior liens are only $333,000) .. c* 419 1868 Memphis & Ohio lat M., Paris to Mem., g. ,guar .. cK 130 1871 Mem.Clarks.&L.lstM.,£,Guthrie to Paris,Tenn.c' 83 1872 Ceoilian Br.lstM.,Cecil.toLouis.,s.f.,dr'natlOO.c~ 46 1877 E.H.&N.lstM.,Henderson toNash.,g,dr'n at 110.c* 135 1879 Louis. & Nash. general M., gold, drawn at 110.c* 802 1880 10-40 Adjustment Mort., gold (red. aft. 1894).c* 785 1884 L. C. & Lex. 1st M.,s.f. (not dr'n)Louis.toNewp't.c* 175 1867 2d mortgage, sin.king fund, not drawn ........ c* 175 1877 L. & Nash.bds., S.&N . .A.la.RR., 2dm. as col.~old.o* 189 1880 Pensacola Division 1st m., gold (dr'n at lu5) .. c* 45 1880 N. 0. & Mob. Div. 1st M., N.O.to Mobile, gold.c* 141 1880 2d M., N. o. to Mobile, gold.................. c* 14:1 1880 Southeast & St. L. Div.1st Mort., gold......... c* 208 1881 2d 1\1., gold, East St. L. to Evansville & br .. cw 208 1881 General mortgage L. C. & L., gold ............. c· 175 1881 1st M. (50•year 5s), $15,000 p.m., gold ........ c• 118 1887 1st mortgage, collat. trust ($7,000,000), gold . c• . ... 1888 Unified mortgage for $75,000,000, gold .... c*&r 1,079 1890 Pensacola & .A.tlan. 1st mortgage, assumed...... 160 1881 Kentucky- Central:-Coving. & Lexing. mort , ext. 80 1855 Maysville & Lexmgton RR. mortgage ........ _. 49 1876 New mortgage ($7~000,000) gold .............. o* 220 1887 LoiiisvilleNewA.lb. d:Onic.-Stock (for$12,000,000). .... 1st M. Lou. Div.-New Albany to Mich. City ... c* 28.8 1880 $1,000 1,000 1,000 500 1,000 1,000 100 1,000 1,000 £200 £200 $1,000 1,000 1,000 1,000 1,000 100 &c. 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000&c 1,000 1,000 1,000 1,000 100 1,000 BoNDs.-Under the consolidated mortgage (New York Security &Trust Co. and Josephus Collett, trustees), $3,700,000 bonds are reserved to retire at maturity the several issues of prior first mortgage bonds, and $500,000 to retire at 75 the $670,000 unassented second mortgage bonds. (See abstract of consolidated mortgage in V. 49, p. 208.) The second mortgage bonds bear 5 per cent interest in 1892 and 6 there• after, and carry voting power, ten votes for each bond. On July 1, 1891, there were outstanding $109,763 equipment notes and $184,792 bills payable, and there was due Ev. &T. H. RR. $272,767. EARNINGS.-From July 1 to Dec. 31, 1892 (6 months) gross earnings were $945,334; net, $379,831; charges, $310,837; surplus, $68,994. For the half.year ending J uuc 30, 1892, gross (est.), $615,094, against $697,321 m 1891. ANNUAL REPORT.~Fiscal year ends June 30. 1890-9 1 report was in V. 53, p. 878. 1890-91. 1888-89. 1889·90 Miles operated.................. 373 375 373 Gross earnings .................. $1,127,039 $1,169,412 $1,484,574 $416,318 $484,920 Net earning-s...... ... . . .. . . . . . . . $330,591 34,635 Other receipts.................. 29,586 Total net income............ $360,177 Interest on bonds . . . . . . . . . . . . . . $251,365 Rental andmiscellaueous..... 14,155 $450,953 $329,618 17,724 $484,920 $432,800 44,808 $265,520 $347,342 $477,608 Balance, surplus....... . ........ $94,657 $103,c::.::. $7,312 -(V. 50, p. 107,834,874,876; V. 51, p. 67'9; V. 53, p. 474, 8'18, 968. Louisville & Nashvtlle.-(See Map.)-LINE OF Ro.AD.-Main line -Cincinnati, 0., to New Orleans, La., 921 miles; St. Louis to Junction near Nashville, 308; Memphis to Memphis Junction, 259 (to Cincinnati, 487) ; branches (incl. Ken. Cent. RR.) 1,089 ; total mileage J1me 30, 1892, 2,577 miles. The above mileage (2,577 miles) is owned absolutely orthrou~h stock. In addition leases the Nashville & Decatur RR. (Nashville to 1Jecatur, 119 miles with other lines, 24 miles) 142 miles, and runs its trains over the Bfrmingham Mineral RR., 22 miles. Also operates the South & North Alabama RR. (Decatur to Montgomery, 183 miles, and branch, 6 miles), for account of that Co., making total L. & N. system 2,931 miles. Also operates under lease for account of various companies 87 miles. Controls, by ownership of a majority of stock, the Nashville Chatta• nooga & St. L. RR., 810 miles; the Nashville Florence & Sheffield RR., 105 miles; and Henderson Bridge and connecting track, 10 milestotal, 924 miles; also, as joint lessees with the Central of Georgia, is interested in the Georgia RR. and its auxiliaries, 721 miles. Owns the Cecilian Branch (leased to Chesaoeake Ohio & Southwestern), 46 miles, and the Clarksville & Princeton branch, leased to Ohio Valley RR., 21 miles. Grand total of roads owned leased and controlled by ownership <>f stock June 30, 1892, was 4,731 miles. ORGANIZATION, LEASES, &c.-The Louisville & Nashville was chartered March 2, 1850, .and opened between Louisville and Nashville November, 1859. The system has been increased to its present size by leasing and absorbing other raads, and by building extensions. The ~bilities for interest on the auxiliary roads are treated mostly as belonging directly to the Louisville & Nashville Co. .A. list of the secu• rities owned and in the sinking fund was in V. 55, p. 596. A line connecting with the Clinch Valley Division of Norfolk & Western was completed in June,1891. The Alabama Mineral RR., 129 miles, was taken into the system January 1, 1891. See V. 51, p. 460. In December, 1890, the stock of the Kentucky Central was acquired, con• trol being assumed February 1, 1891. See V. 51, p. 876 and V. 52, p. :939. For Henderson Bridge see Miscellaneous Companies. CAPITAL STOCK.-In 1889·90 the stock was increased $13,000,000 :tor the purpose of retfring the 6 per cent collateral trust bonds of 1882. This reduced the annual interest charge by $600,000, and the sin.king fund charge by $100,000, in all lj,700,000. In July, 1891, it was voted to mcrease the stock from $48,ooo;ooo to $55,000,000 for purchase of Kentucky Central RR., &o. Of the new stock $4,800,000 was taken by stockholders of July 21 at 70, leaving July 1, 1892, $2,200,000 yet to be issued. DIVIDENDS since 1880.-In 1880, 8, and 100 per cent in stock; in 18 1, 6; in 1882, 3; in 1888 and 1889, 5 in stock; in 1890, 6, of which 4310 in stock; in 1891, 5 in cash; 1892, February, 212 cash; August, 2; in 1893, February, 2 per cent. PRICE OF STOCK.-In 1884, 22121i>513s; in 1885, 22 w5134; in 1886, 335s@69; in 1887, 541s1i>7014; in 1888, 505s1i>64¼; in 1889, 5614 @8714; in 1890, 6512@9212; in 1891, 657s@837s; in 1892, 643.,1,@8412; in 1893, to Jan. 20, inclusive, ';'13s1i>763.,1,. BO]!IDS.-The 10-40 adjustment mortgage of 1884 (trustee, Central Trust Co.) besides 783 miles of road covers $28,162,700 of stocks and bonds. See V. 39, p. 409, and V. 51, p. 463. The Evansville Henderson & Nashville bonds are drawn at 110 by lot annually in Octolier, for payment Dec. l; $30,000 a year till 1895, then increasing each five years until $150,000 per year is finally reached. The Pensacola Division bonds are subject to a chwwing sinking fund $5,000 till 1900, inclusive, then $10,000, and so increasing. The general mortgage bonds of 1880 are subject to a drawing sinking .:band of 11·10 per cent ()f all bonds issued, plus the inte1·est that would https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 g. A. & 0. $2,000,000 670,000 5to 6g. A. & 0. 300,000 6 g. A. & o. 200,000 8 J. & D. 6 Various 300,000 5 g. .T. & .T. 3,795,000 52,800,000 See rxt. 333,000 7 A. & O. 7,070,000 7 g. .T. & D. 3,500,000 6 g. F. & .A.. 2,015,660 7 M. & S. 760,000 2,210,000 6 g. J. & D. 6 g. .T. & D. 11,320,000 6 g. M. & N. 4,531,000 2,850,000 7 J. & J. 7 .A.. & O. 892,000 6 g. A. & 0. 1,960,000 6 g. M. & S. 580,000 6 g. J. & J. 5,000,000 6 g . J. & J. 1,000,000 6 g. M. & s. 3,500,000 3 g. M. & S. 3,000,000 6 g. M. & N. 50,000 1,764,000 5 g. M. & N. 5,129,000 5 g. M. & N . 4 g. J. & J. 11,632,000 6 F. & .A.. 1,970,000 219,000 5 J. & D. 7 J. & J. 400,000 4 g. J. & J. 6,523,000 12,000,000 3,000,000 i'. ft: I N.Y., Security & Tr. Co. do do do do do do do do do do N. yal20 Bro~~way. do do London and New York. London and New York. N. Y., 120 Broadway. do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do Oct. 1, 1926 Oct. 1, 1986 Oct. 1, 1927 June 1, 1895 1900-1902 July 1, 1989 Feb. 3, 1893 Oct. 15, 1893 .A.pr. 1, 1898 June 1, 1901 Aug. 1, 1902 Moh. 1, 1907 Dec. 1, 1919 June 1, 1930 Nov. 1, 1924. Jan. 1, 1897 Oct. 1, 1907 .A.pr. 1, 1910 Mch. 1, 1920 Jan. 1, 1930 Jan. 1, 1930 Mch. 1, 1921 Moh. 1, 1980 Nov. 1, 1931 May 1, 1937 Nov. 1, 1931 July 1, 1940 .A.ug. l, 1911 June, 1895 Jan. 1, 1906 July 1, 1987 have accrued on all the bonds so drawn-about $190,178 in all in 1890·91. In June, 1890, the "unified" mortgage (trustee, Central Trust Company) for $75,000,000 was authorized, $411 917,660 bonds being re• served to retire all prior liens (none of the prior liens can be extended), the balance for improvements, extensions (at the rate of $32,000 per mile, including equipment), and for other purposes. The mortgage covers (besides 1,080 miles of road aRd its eqmpment) $161,209,700 stock of companies controlled, which is subject only to the 10·40 adjustment mortgage, and $6,498,400 stock and $1,100,000 bonds free from any lien. See abstract of mortgage in V. 51, p. 613. On Sept. 1, 1892, company reported $11,280,000 unified bonds outstanding; on Stock Exchange Nov. 16, 1892, only $8,733,000 were listed. Besides the bonds in the table the Louisville & Nashville is responsi• ble for $2,100,000 bonds and dividends on $2,265,582stock of Nashville & Decatur (which see); for $9,864,350 bonds South & North Alabama (see that company) for $286,000 bonds of Louisville Transfer Co., and for $2,096,000 Nashville Florence & Sheffield bonds-see that company. As to Kentucky Central mortgage (Metropolitan Trust Co. of New York, trustee), see abstract V. 45, p. 372. The Pensacola & Atlantic was purchased at foreclosure sale in 1891, and its outstanding :first mortgage bonds for $2,000,000 were as• sumed, L. & N. owning $1,000,000 firsts additional to this $2,000,000. GENERAL FINANCES, &c.-The Louisville & Nashville system has been developed in its present extensive form since 1879; the 100 per cent stock dividend was declared in 1880 and a few dividends afterwards in cash, but from 1882 to 1888 nothing was paid. From Febru• ary, 1888, to 1890 stock dividends were paid to reJ.>resent surplus earn• ings. The August, 1890, dividend was paid partly m cash, and all since that date in cash. The August, 1892, dividend, however, was reduced to 2 per cent, and the February, 1893, dividend was at same rate. ln year 1891·92 company increased its bonded debt $8,675,000 net, of which $7,142,000 was through purchase of Kentucky Central, 248 miles, $847,000 unified 4s for new Chattanooga stock, $255,000 for sinking funds and $847,000 for improvements. Bonds canceled were $271,000. Bills payable were $174,996 on July 1, 1892, against $3,294,574 on July 1, 1891. In December, 1892, company reported $11,632,000 unified 4s outstanding, against $10,571,000 July 1, 1892. LATEST EARNINGS.-For the half-year ending Deu. 31, results were as follows, 1892 being partly estimated. See V. 56, p. 57, 83. July 1 to D ec. 311891. 1892. Gross earnings....................... $11,061,172 $11,654,032 Net, incl. income from investments. 4,261,230 4,613,855 Interest and rentals ................ . $2,428,566 $2,445,597 Taxes . ................ . ............... 250,000 275,000 Loss on other roads................. 78,357 52,179 Dividends........................... . (212) 1,320,000 (2) 1,056,000 Balance after dividend............ $184.,307 $785,079 ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting is held m Louisville the first Wednesday in October. Report for 1891-92 was given in full in V. 55, p. 588, 591. See also editorial p. 570. 1888·89. 1889·90. 1890-91. 1891 92. Average mileage.... 2,161 2,198 2,2r,u 2,861 Gross earnings ... ... $16,599,396 $18,846,004 $1!l,~'2u, 7:t.:J $21,235,721 Op. exp. (excl. tax). 10,326,085 11,419,092 12,058,444 13,792,122 Net earnings ......... $6,273,311 $7,426,912 $7,16:Z,284 $7,443,599 P. ct.of exp. to ear'i'gs 62·21 60·59 6Z·74' 64·95 Net, incl. invs'ts.... .. $6,950,420 $8,065,598 $7,880160, $7,976,892 Taxes paid............ 401,112 397,7~1 410,810 513,185 Interest and rent.... 4,605,493 4,524,694 4,207,629 4,860,878 • Georgia RR. deficit .. 23,376 90,339 ,r 124,695 Loss on other roads.. 199,425 186,203 205,494 128,001 Dividends............. tl,594,800 i2,4c05,367 112,400,000 *2,376,000 Total disbm·sements .. $6,824,206 $7,604,324 $7,223,932 $3,002,759 Balance ............... sr.$126,214 sr.$'161,275 sr.$656,226 def.$25,867 t Stock dividends 5 per cent. t 4·90 per cent stc.-0k and 1·10 cash. * 212 January, 1892, and 2 per Ct;nt July, 1892. II 212 in January, 189~, and 212 July, 1891. ,r In 1890-91 there was a. profit on the Georgia Railroad of $62,530. -(V. 52, p. 81,279,427,497, 498,863,899; V. 53, p. 21, 58,126, 256, 370, 498, 511, 521~ 520; v. 54, p. 78,525,643, 683, v. 55, p. 30, 55, 5'70, 588. 590, 591,679,723; v. 56, p. 57, 83. Louisville Ne,v Albany & Chicago.-(See Map)-Owns from New Albany, Ind. (opposite Louisville, Ky.), to Michigan City, Ind., 289 mile; Indiana State line to Massachusetts A venue, Indianapolis, 162 miles; proprietary lines-Bedford & Bloomfield RR., Bedford, Ind., to Switz City, 43 miles; Orleans West Baden & French Lick Springs Ry., Orleans, Ind., to Frenc-h Lick Sprin~s, 18 miles; total owned, 510 mile!!: Operates under contr,1ct--Chicago w State line, 20 miles; New Albany to Louisville, 5,miles; iu Indianapolis, to d~pot, 2 miles; total operated, 537 miles. A lease for 999 years with Chicago & Western Indiana (of whose stock this company owns $1,000,000) at $127,000 per year gives entrance to Chicago . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis LOUISVILLE, \ NEW ALBANY & CHICAGO RAILWAY JANU..l.RY, 18il3.j RAILROAD Subscribers will cower a great Cavor by giving hnmedlate notice oC any error d1sc0vered in the e Table8. Bonds-Prine!INTEREST OR DIVIDENDS. RA.ILR0ADS. Miles Date Size, or Due. Amount Rate per When Where Payable and by pal,When Par Outstanding of Stocks-Last F or explanation ot column headings, &c., see notes of Cent. Payable Whom. Road. Bonds Value. Dividend. on ii.rat page of tables. L ouisville New Albany & Ohicago-(Oontinited-.)lat M. Chic. & Ind'polis Div., hie. to Ind.,gold.c* 158 Consolidated mortgage (for $10,000,000) gold.c* 512 General mort a~e, $25,000 p. m., gold .......... c* 512 Louisville New r eans & Texas-See ILLINOIS CENT RAL. Louisville St. Louis & Texas-Stock ................... 1st mortgage, gold ............................... c,.. it2 1 2 0 ·&: wes1irii ·ist ·mortgage~ 44 rt~s L. St. L. &T., lstconsol. mort., $5,000,000,gold..c* 167 3 ~:1:af~s6iiri uisville Southern-Stock . .......................... 1st M. $5,000,000, gold, guar .................... c* kens Valley-St'k,lOp.c.rental, 999 yrs. Nor.Cent. ynchburg & Du1·ham-Stook, $2,000,000 . ... ... ... 1st M. $20,000 per mile, gold ............. ....... c•· aeon & Birmingham-lat M..for$20,000 p.m.,gold aeon & N01·thern-lst mort. gold, guar. p. & i. .. c* aine Oentrat-Stook ........................ • ? • • • • • • Port. & Kennebec con. M., Port. to .A.uf. & brch .. c ---- 126 21 ·--· 115 97 107 --- 1881 $1,000 $2,300,000 1,000 4,700,000 1886 2,800,000 1,000. 1890 ---· 1887 1887 1889 1892 ---- 1890 .... isoo 1890 1891 ·;;2 i865 100 1,000 1,000 1,000 1,000 100 500 &c. 20 100 1,000 1,000 1,000 100 100 &c. 100 &c. 500 &c. 100 &c. 100 &c. 100 &c. 1,000 1,000 Me. C. loan for $1,100,000, Danv. Jc. o Bangor.c 109 1868 18 1870 ExtensionlstM., old, Cumberl. Juno. toDan.. c 36 1871 Leeds & Farm. RR. st M., Leeds to Farmington.c 1872 Me.C. 1st M., cons., .A.. B. C. D. ($269,500 5s) .. . c* !304 1872 ...................... c* do do Do 41 1883 Collateral trust bonds for Mt. Desert Branch .... c Sinking fd. 10-20s:fiold, red.oil or aft. Feb. l.'95.c .... 1885 1886-7 Improvementbon s,".A." and "B." go!d, notmort. { European & North American (Bangor loan)c ... . 56 1869 500··&0 . 1,000 56 1892 Me. Cent. Eu. & Nor. .A.m. refunding loan, gold. 100 European & N. Am. stock, 5 p. c. rental 999 years 114 ..... 100 Portland & Ogdens. stock (2 p. c. rental, 999 years) 109 · · -· 62 1870 500 &c. i~~rr:,~~if_agiogtJi· 1,000 y 107 1888 p~~:es~~~(g ' $ 1 eiin:1~:::::::~ I 3,000,000 2,800,000 114,000 395,000 482,000 3,!500,000 4,340,000 600,000 1,876,500 2,012,000 1,940,000 2,200,000 4,489,600 1,166,700 756,800 496,500 633,000 4,176,700 1,496,000 687,000 600,000 450,000 965,000 35,000 2,488,700 4,381,883 800,000 1,319,000 6 g. F. & .A.. Chase Nat. Bank, N. Y. A.ug. 1, 1911 do 6 g. A.. & o. do .A.pr. 1, 1916 do 5 g. M.&N. do May 1, 194C ..(fg. F .. ·&: ·.A. . N. Y., Office 42 do 6 g. M.& s. do J. & J. 6 5 g. M.& 8. do ---· ..&.. Wall St. do do do y; ·i91? Feb:· Moh. 1, Jan. 1, Sept. 1, 1917 1919 1942 Chase Nat. Bank . Juiy·1,--i940 J. N, Y., 5 g. J. 10 p. an. Q.-J. N. Y., 0111.ce, 13 Wm. St. Jan. 1, 1893 Mercantile Tr.Co . 5 g. J. . ·&:. J. N. Y., 5 g. M.&N. 412 g. M.& S. N.Y.,Brown.Bros.&Balt. Portand, Me., Office. See text. Q.-J. A.. & 0. Bost., N.Rev. Bk.; Port. 6 do do J. & J. 7 do do 6 g. .A.. & 0. do do J. & J . 6 do do 5&7 A. & 0. do do o. 412 .A.. & J. & D. Bost., .A.m.L.&Tr.; Port. 5 Port. Co., Tr. 6 g. F. & .A.. Portland 412 g. J. & J. Bost., N.Rev. Bk.; Port. J. & J. Boston, Merch. Nat. Bk. 6 4 g. J. & J. Boston and Portland. 5 per an. A. & 0. Bangor, Treas. Office. 2 per an. Q.-F. Portland, Me. Cent. Of. 6 g. J. & J. Bost., N.Rev.Bk.& Port. M. & N. Brn, .. N. Rev. Bk. & "RM. 5 Jan~·1; "i940 1940 Mar. 1, 1990 Jan. 1, 1893 .A.pr. 1, 1895 July 1, 1898 Oct. 1, 1900 July 1, 1896 .A.pr. 1, 1912 .A.pr. 1, 1912 June 1, 1923 Feb. 1, 1905 July,'16&'17 Jan. 1, 1894 Jan. 1, 1932 Oct. 15, 1892 Feb.31,1893 July 1, 1900 Vnv 1 . l9"R ORGANIZATION.-The Louisville New A.lbany & Chica8'o was opened in 18 9 l; net, $36,352, again t deficit of $36,352. In 1891 gro s, $942,477; 1852 and sold in foreclosure Dec. 27, 1872, and reorgamzed. In .A.u"'ust I deficit, $41,281, again t net of $11,264 in 1890. Lynchburg & Dtu-ham,-Completed in 1890 from Lynchbur 1881, consolidated with Chic. & Ind.~· Line. ~he Bed!ord & Bloomfield RR. and the O_rlean~ West Baden:½' Freno~ Lick Sprlllgs Ry. h3!ve no Va., to Durham, N. C., 114 miles; projected to a connection wii}j debt, a°'d ~heir capital stock of _$...,30,000 lB. deposited as secur1_ty for Raleigh & A.ugusta RR.,25 miles from Durham. Mortga"'e is tor $3 000 the Lomsville ew ~lbany & Chicago ~onsolid!'1ted mortgage, as 18 al~o 000, at $16,500 per mile of completed road aud $3,50 per mile 'addi'the $1,000,000 of C~icago & W~st Indiana Railroad stock, and certarn tioual for equipment; trustee, Mercantile Tru t Company. Stock authorized, $2,000,000; outstanding, $1,876,500 (par, $100). Leased for . stock ot the Belt Rail way of Chicago.. CAPITAL STOCK.-In 1891 stock for $3,200,000 was sold for rolling one year from March 1, 1892, to Norfolk & Western, which has the stock and improvements, and on July 30, 1891, $2,400,000 stock was option to continue the lease permanently at a minimum rental of offered to stockholders at 25, for terminal facilities in Chicago, etc. V. $100,000 per annum, or to purchase $1,163,000 ot its stock and all its 55, p. 100, 256. In January, 1893, it was proposed to classify the bonds for $1,433,838. Under the temporary arrangement the lessee a .~ rees to operat(? the road and_ to turn over to this company 35 per cent stock into common and preferred. BONDS.-In April, 1891, a syndicate composed of Calvin 8. Brice, of the gross e!'1rnlllg-, from wh10h taxe~ are to ~e deducted. See V. 54, p. 6~1. President, W. C. Houston, Philadelphia. In year 1891 gross to $1,960,000 advanced others, and Samuel Thomas, John Greenough, take up the floating debt, etc., receiving in return $2,800,000 general earnmgs were $166,132. (V. 51, p. 84; V. 54, p. 159.) lUaco n & Birmlngham.-Projected from Macon, Ga., to Birmin~mortgao-e bonds, and $1,400,000 of new stock. The general mortgage of 1890 is for $25,000 per mile of road and $10,000,000 bonds are b.am. Ala.. 230 miles. and completed from Macon Junction to La Grange Ga., 97 miles. Built by the Macon Construction Co., which went into re: reserved to retire the lsts as they mature. Trustee Central Trust Co. LATE T EARNINGS.-July 1 to Nov. 30, 1892 (5 months), gross, $1,- ceiver's hands~ March, 1891. In September, 18~1, Mes rs. Gill Shaw $127 934. & Ober of Baltimore (?OnSe!].ted t~ act as a committee and invited the $ L 337 698 in 1891 · net $502 389 ao-ainst 533 773 a"'ainst 0 0 bondholderR to deposit the1r holdings, under a bondholders' a"'reement ' ' ' ' ' ' ' ' ' ANNUA~ REPORT.-Fiscal -y:ear changed to end J~e 30. Report for with the Mercantile Trust & Deposit Co. of Baltimore, or the New York year endrng June 30, 1892, m V. 55, P• 419. Earlllll~s have been. as Security & Trust Co. See Georgia Southern & Florida. Foreclosure profollows forth~ calendar years 1889, 1890 and the new fiscn,1 year endmg ceedings were instituted in A.pril, 1892, by the mortgage trustee. Re_ _ ceiver's certificates for $30,000 have been authorized. In yE\ar ending _ _ June 30, l89 2 1891 92 1890 1889 $ 3 , 067 ,108 June 30, 1892, gross earnings, $79,624; deficit under operating ex$ 2, 630 , 132 Gross earnings ................ $ 2, 495 ,823 952,160 penses, $ 988 · (V. 54, p. 683 ,) 917,176 861,533 Net earnings.................. Macon Dublin & Savannah.-0wns road completed from 45,000 25,000 Dividends received........... Macon to Dublin, 54 miles; projected to Savan:iah, 99 miles additional. $997,160 Built by the Illinois & Georgia Improvement Company of Chica.go. In $H2,176 Total net income......... $861,533 768,243 year ending J~e 30, U\92, gross earnings were $!6,596; net, $13,689. 651,781 621,303 Interest on bonds, etc... ..... 163,001 D. M. Hughes, Vice-Pre 1dent, Macon, Ga. 155,297 138,832 Rentals........................ Macon & Northern.-0wns from Macon. Ga., to .A.thens, Ga., 105 $931,244 miles. Succes or to the Covington & Macon, which defaulted Sept. 1, $807,078 Total charges........... .. $760,135 $65,916 1-890, and was sold in foreclosure May 21, 1891. In 1891 leased for 99 $135,098 Bala.nee, surplus......... . ,101,399 years, renewable forever, to the Richmond & Danville and the Central Samuel Tnomas, .President, New York.-(V. 53, p. 520, 56!l, 673, 713 of Georgia, the lessees jointly guaranteeing interest and principal of 836; v., 54, p. 203, 405; v. 55, p. 100, 256, 419, 544.) the bonds. This guaranty is on each of the bonds. See V. 52, p. 321; V. 53, p. 223. The lessees having gone into receiver's hands, this road Louisville Ne,v Orleans & Texas.-Se e ILLINOIS CENTRAL. Louisville St. Louis & 'l'exas,-(See .ilfap.J-Louisville to Hen- was also placed in the hands of a receiver, but in September, 1892, the derson Ky., 142 miles, of which it owns Henderson to West Point, 121 U.S. Circuit Court placed it under control of Central of Georgia. CV:. miles (completed April, 1889), and uses by contract with Chesapeake & 55, p. 421). Intere t due September 1 was paicl. A committee was Ohio Southwestern West Point to Louisville, Ky., 20 miles; owns also appointed in August to represPnt bondholders. V. 55, p. 216. '.lhe from Irvington to Fordsville, Ky., 44 miles, and branch 1 mile; total reorg-anlzation plan of the Cent: of Ga. does not provide for tl:cE& operated, 166 miles. Extension of 15 miles to a connection with the bonds-see Cent. of Ga. From Aug. 1, 1891, to May 19, 1892 (912 months),gross earnings were Louisville & Nashville, 8 miles from Louisville, is under construction, and is to ue completed in 1892. Close traffic contract with the L. & N. $106,500; deficit und~r operating expenses, $2,240. In 1890 gross earnings were $150,739; net over expenses and taxes, proposed. See v. 55, p. 256, 373. $24,745. (V. 53, p. 223,713; V. 55, p. 177,216, 412.) BoNDS.-ln August, 1892, was executed a consolidated mortgage lliaine Central.-Line of road, Portland to Vanceboro, Me., via for $5,000,000, of which $2,800,000 will be reserved to retire the fu·st mortgage 6s at maturity. It has been arranged to A.ugusta, 251 miles; branches, Cumberland Junction to Skowhegan., miles; Bath to Lewiston and Farmin!!ton, 76 miles; branches91 take up at once the outstanding second mortga~e sixes and the Louisville Hardinburg & Western first mortgage six:es; also 'the Belfast, Dexter, Bucksport and Mt. Desert Ferry, 132 miles; Portland & Railroad, Portland, Me., to Lunenberg, 109 miles; small Ogdensburg .entire car trust and floating debt. Tb.e fixed charges when these changes are consummated will be about $240,000. See V. 55, p. 373. branches, 6 miles; Upper Coos and Hereford railways, Lunenberg, N. H., Qu~bec, 108 miles; ~ath to Ro_ckland (including steam, ~idge, Lime to notes trust car $327,263 Auiust 23, 1892, there were outstanding ferry, 7 miles) 48 miles; total, 822 miles, of wh10h 345 miles are owned, ana. certificates. Mortgage trustee, Central Trust Co. under 999 year lease , and are practically operated are miles 429 LATEST E.ARNINGS.-July 1, 1892, to D ec. 31, 18£2 (6 months), gross owned; 33 mile:s are oper ated under 50-year leases, and 15 miles are $330,761; net, $141,43-!;_fixed charges for half-year, $107,833. terry lines . .A.NNOAL REPORT.-Fi cal year ends June 30. R eport for 1891-92 in ORGASIZATIO~.-.A. consolidation in 1 62 of the .A.ndro coggin & KenV. 55, p. 1077, showing gross earnings M06,787, against $-129,415 in nebec and the Penobscot & Kennebec railroad , into which have since 1890-91; ni-t, $229,770. been merged the Portland & Kennebec, Sorneret Kennebec & Leeds W. V. McCracken & Co., 42 Wall Street, New Yo::-k, Financial .A.gentL and Leeds & .Farmington RR. Co. Mr. McLeod, President of Philadel1077.) 72d, 256,373, p. 55, (V. 52, p. 498; V. 53, p. 126,407; V. phia & Readinir, became a director in December, 1 92. V. 55,p. 1078. Louisville Southern.-0wns from Louisville, Ky., southwesterly B~~~~K&-~~~~ stock $2,264,400 was owned on Oct. 1, 1892, by to Burgin on Cincinnati 89uthern. Railroad, 83 miles, with branches to Lexington and Georiretown, 47 miles; total, 130 miles. Lease to LouisDIVIDEND_ .-In._1882, 2 per cent; in 1883, 512; from 1884 to August, ville N'ew Albany & uhicago was terminated in March, 1890. (See V. 1892, both lllClus1ve, at the rate of 6 per cent yearly, payable semi50, :p. 834.) [n July, 1890, leased for 99 years to the East Tennessee annually. In Sept., 1892, dividends changed to quarterly, and 112 per Virginia & Georgia, which guarantees principal and interest of the new cent declared payable Oct. 1; in 1893, January, 112 per cent. 50-year 5 per cent bonds. All net earnings after payment of fixed charges loan, BONDS, GUARANTYS.-The European & North American Bancror 1 are to be equally divided between the lessor a.nd the lessee. See V. 51, p. 51, 612. Stock, $3,500,000; par, $100. Bee statement to New York due Jan. 1, 1894, will be refunded into the Maine Central go1d 4 per Stock Exchange, CHRONICLE, V. 49, p. 146; also abstract of mortgage cents, issued under mortgage made jointly with the E. & N . .A.. Consols a.nd lease, V. 49, p. 342 and 343. The East Tenn. was placed in receiv- of 1872 are held in trust to retire all underlying bon ls at maturity. There are also $58,000 5 per cent debenture oonds, due February, .ers' hands in June, 1892, but L. S. coupons due July, 1892, and Janu1894: $42,000 Shore Line 6 per cents, due 1923; $25,000 Androscog.ary, 1893, were paid as usual. See V. 55, n. 21, and East Tennessee. . In year ending June 90, 1892, gross earnings were $632,732; net, gin RR. Co. 6s, due A.pril 1, 1893; also $150,000 Belfast & Moosehead :$203,137; interest on bonds, $217,000; balance deficit, $13,863. (V. Lake mortgag-e uonds, due 1920, not guaranteed, interest and sinking fund for which are paid out of the rental. Jointly with Boston & ·51, p. 51, 276, 303, 457, 612; v. 52, p. 81; v. 55, p. 462.) Maine, the Maine Central guarantees principal and interest of $300,Lykens Valley.-Owns fromMillersburo-,Pa., to Williamstown,Pa., 000 bonds of the Portland Union Ry. Stat:on Co. 20 miles; branch, 1 mile; total operated, ~l miles. It is a coal road, FLOATING DEBT.-~otes payable were $378,000 Oct. 1, 1892. leased and operated by the Northern Central Railroad since July, 1880 and previously by the Summit Branch Railroad. The lease is for 999 DIVIDE~DS ON Ll))A.SED LI:O.ES.-In addition to dividends on the Etocks yea.rs from March 1, 1866, and the rental is $62,500 per annum. In the table above the company pays rental or $18,000 semi annually From January 1 to Nov. 30 in 1892 (11 month,;), groi,s earnln!!'R to the Belr ,t,~t & Moos dhi-a,t Lake under leu.se. which run,- till May 10, t rom coal and mining operations were i'!'R!'>,5-4, ag.binst $859,4- 9 .D 19:H. After Nov. 25, 1.--ms, Dexter & )lewp111 t clivi cle11 -h will be 5p. c. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis L MAP OF THE LOUISVILLE, ST. LOUIS AND TEXAS RAILWAY, AND CONNECTIONS. RAILROAD STOOKS AND .BONDS. JANU..\RY , 1893.J 83 Su b scribers will c onf e r a grea t favor by g iving lm.mediate notioe o f any error disco-vered in t h e l!le Tables. Bonds-PrinoiR AILROAD S. INTEREST OR DIVIDENDS. Miles Date Size, or Amount Rate f.er When Where Payable, and by pal,WhenDue. of For explanation of column headings, &c., see notes of Par Outstanding Stocks-Last on first page of tables. Road. Bonds Value. Oen . Payable Whom. Dividend. - - --- Maine Oent1·ai-( Oonr,luded-. J- Jt; Dexter &Pisoataq uis stock 5 o. r ental 999 years. 1 st M., Dexter to Dover, e ·•J uar. by end ..... Hereford R'y stock (4 p. o. rent , for 999 year s) .. 1st mortgage, guar. p. & i. (endorsed) ...... . .... Upper Coos RR. stock, 6 p. o. rental 999 years. 1st mort., ~ar. p. & i. (endorsed) ................ Extension ., $21,000 p. m., guar. p. & i.{end.). Knox & Lincoln stock, guar., 5 p. c., 999 years ... 1st M. Penobscot Shore Line RR. Co., assumed. K. & L. 2d mortiage (for $400,000) a ssumed . .. Dexter & Newpor , stock, rental 999 years . ...... Eastern Maine, stock, 4¾ p. ct., rental 999 years Manches. & Law.-Stock,10 p.c.ren'l till 1937,B.&M. Manhattan Elevated.-Consolidated stock ........... Metropol. El. lstmort., $600,000 p. m., gold .. c<2d mortgao-e (guaranteed by Manhattan) ..... c* N.Y. El. lst~.(payableat105aft. 1895)$&£.c&r N. Y. El. deb., secured by consol. mort. of 1890 .. Manhattan Elevated consolidated mort., ~old . . c* c M~~~~,,~;~d.~~~~~.::::::::::::::::::::::::: Ma1·ietta & N01·th Georgia-Stock . ..•........ .. ....... 17 17 53 53 22 22 33 48 48 48 14 18 26 32 18 18 14 32 32 34 34 .... isso .... 1890 i890 1890 i890 1891 ...... . . ... .... ---- 1878 1879 1876 1886 1890 ....... 1886 ---- $100 1,000 100 1,000 100 1,000 1,000 100 1,000 1,000 100 100 100 100 £&$ 1,000 1,000 1,000 1,000 100 1,000 . . .. 1,000 1st mortgage, $7,000 p. m., gold . ............ . . . ... ..... 1881 1,000 Con.lst.M.,g.,t,500,000,s.f.$15,000 after 1897 c* 224 1887 Marquette Houg ton & Onton.-See DULUTH SOUTH SHORE &A TLANTIC 92 Mason Oity & Fort Dodge-lstm.$15,000 p. mile, g. 1886 Memphis & Oha1·leston-Stock ........................ Tennessee State loan for$1,736,906 .... . ......... 1st and 2d mort~ages, extended ... . ............... 2d mortga~e, ex ended ............ . ............... c Consol., go d ($1,400,000 1st on 93 m. in Tenn.)c* _General mortgage, gold .............. . ......... c&r ·94 ..... ...... 292 292 ....... .. 25 i854 1,000 1,000 1,000 1,000 1867 1876 1884 ..... . .ANNuAL REPORT.-Fisoal year ends Se::pt. 30. Report for 1891-92 was m V. 5_5 , p. 976. N~w equipment costmg $210,401 w as charged to operating expenses m 1891-92. . 1888-89. 1889-90. 1890-91. 1891-92. Miles operated. ........... 647 741 821 822 Total gross earnings ...... $3,828,162 $4,226,465 $4,324,905 $4,757,603 Net earnin~s .............. $1,313,447 $1,367,798 $1,382,527 $1,695,813 Other receipts............ 18,592 43,765 39,074 60,817 ---- - - --------Total net income .•....• $1,332,039 $1,411,563 $1,421,601 $1,756,630 Rentals paid.............. $233,427 $284,655 $360,093 $480,887 Interest on bonds......... 798,391 821,165 828,189 830,308 Dividends . . . ... . ... . ...... 215,616 215,616 215,628 268,485 Total disbursements .... $1,247,434 $1,321,436 $1,403,910 $1,579,680 Balance, surplus.. . ....... $84,605 $90,127 $17,691 $176,950 -{V.51,p. 874; V.52,p. 939; V.53,p.820, 920: v. 55, p. 9 76,1078.) lU anchester &; L awrence.-Owns from Manchester, N. H., to MethRen {State Line), 2214 miles; leases Methuen Branch, 334 miles; total operated, 26 miles. Road in operation since 1849. Leased for 50 years from SeRtember 1, 1887, to Boston & Maine at a rental paying 10 per cent diVIdends, at which rate dividends had been paid for many years. Suit has been instituted to recover $1,000,000, said to be due from Concord Railroad. See referee's report Jan., 1893, in V. 56, p. 82, under item as to Boston & Maine. ltia nhattan Elevate d.-RoAD OPERATED.-This company controls and o::perates all the elevated railroads in New York City. The main track m its system aggregates 32 miles, besides which is operated the Suburban Rapid Transit RR., 334 miles. HISTORY, ETC.-Formed Nov. 24, 1875, to lease and operate the two elevated railroads in New York City. The original lease of May 20, 1879, guaranteed 10 per cent per annum on the stocks. In June, 1884, all liabilities were assumed and new stock was issued by the Manhattan Company, viz.: For Manhattan, 85 per cent in new stock; for New New York. 120 per cent; for Metropolitan, 110 per cent, making the whole stock $26,000,000. In May, 1891, $4,000,000 stock was issued to acquire the stock of the Suburban R apid Tran sit Railroad, which owned a brid~e across the Harlem River, and ha d a road in operation, to :aear l 76tn Street, N. Y., 2¾ miles. See V. 52, p. 642. Concerning proposed extension of company's lines see V. 56, p. 127, 128. BONDS AND LIABILITIES.-There are considerable claims pending against the elevated roads for damage to property on their lines, and many of these are before the courts. See CHRONICLE V. 54, p. 203. The consolidated mortgage {trustee, Central Trust Company) is limited on preserrt mileage to $40,000,000, and will provide for prior bonds when due, for floating debt, &c. Further amounts may be issued for extensions if de sired at the rate of $300,000 per mile of single and $600,000 per mile of double track. <See abstract of mortgage in V. 51, p. 248, and application to New York Stock Exchange in V. 52, p. 353.J DIVIDENDS.-ln 1884., 3 per cent; in 1885 to 1887, inclusive, 6; in 1888, ~; in 1889, 1 in cash and 4-½3 in scrip; in 1890, 4¼ cash and 1 ¼ scrip : in 1891, 6 cash; in 1892,Jan., 112; April,l¾;July, 1¼; Oct., 1¼; in 1893, Jan., 1½ p. c . PRICE OF STOCK.-ln 1884, 64½31i>79; in 1885, 65'@ 12312; in 1886, 102 @175; in 1887, 92¾@161 7 s; in 1888, 77341i>983s; in 1889, 90@119; in 1890, 92@117; in 1891, 95@109; in 1892, 104@156!4 ; in 1893, to Jan. 20, inclusive, 153@174¾. • EARNINGS, FINANCES, ETC.-Cash dividends were resumed in April, 1890, after four dividendli! of 1 ¼ per cent each had been paid ln scrip. The report to the New York State Railroad Commissioners for the quarter ending Sept. 30, 1892, was as follows : July 1 to Sept. 301891. 1892. Gross earnings ........................ .. ...... $2,396,129 $2,468,730 Operating expenses .................. . ... .. .. 1,286,780 1,294,251 Net earnings ............................. . $1,109,349 Other income........ .. . . .. . .......... .. ...... 35,000 Total ...•.................... .. ............ $1,144,349 Interest, rE.\ntals and taxes................... 600,192 ---Surplus...... .. . ........ . .................. $544,157 $1,174,479 35,000 ---$1,209,479 681,089 $528,390 ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting is held the second Wednesday in November. 1889-90. 1890-91. 1891-92, Year ending June 30$ $ $ Gross eat'nings . ........ . .•...... 9,388,681 *9,959,710 10,835,978 5,307,129 5,455,630 Oper . exp. and taxes .......• . .•. 5,923,213 Net earnings . . ..• . .......... Inter est and rentals ... . ........ . 4,081,552 1,597,880 4,504,080 1,907,494 4,912,765 1,917,052 B alance .... . ..........••..... Deduct dividends ......•........ 2,483,672 tl,560 ,000 2,596,586 1,620,000 2,995,713 1,800,000 9 23,672 976,586 1,195;713 Surplus . • . . . . . . . . •. . • • • •. . . . . * Incl udes ot her incom e . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t In cash and sorip. $110,000 175,000 800,000 800,000 350,000 350,000 547,000 200,000 1,300,000 80,000 1 22,000 200,000 1,000,000 30,000,000 10,818,000 4,000,000 8,500,000 1,000,000 12,080,000 600,000 540,000 1,560,000 383,000 3,821,000 1,380,000 5,312,725 In trust. 2,155,000 105,000 2,264,000 1,000,000 5 p er an. J. & J. 4 J. & J . 4 pei an. M.&N. M.&N. 6 per an. M.&N. 4 M.& N. 412 M.&N. 5per an. F. & A. F. & A. 4 F . & A. 5 See text. M.& s. 4¾p.an. M.&N. 10 p. an. M.&N. 6 per an. Q.-J. & J. ig J. M.&N. J. & J. 7 M.& s. 5 4 g. A. . & o. ..6.g. M:·&-·N. ..6.g. J. ........ & J. 6 g. J. & J . 6 g. J. & J. ...... ··1· -···· Dover, Me. , Office. Bost. N. R ev. Bk., Port. Portl and, Me. Cent. Of. Boston, Mass. Nat. Bk. Por tland , Me., Office. Bost., N. Rev.Bk.; Port. Portland, Me., Office. Portl'd,Me. ,Me. Cent. Of. Boston,Nat. Revere Bk. do do Dexter, Me., Office. Rockland, Me., Office. Manchester and Boston.' N. Y., 71 Broadway. N. Y., Mercantile Tr. Co. do do do do do do do do J a n. 15, 1 893 July 1, 192& Nov. 1, 1~92 May 1, 1930 Nov. 1, 1892 May 1 , 1930 May 1, 1930 Feb. 1 , 1893 Aug. 1, 1920 Feb. 1 , 1921 Sept. 5, 1892 Nov. 1, 1892 Nov. 2, 1892 Jan. 3, 1893 July 1, 1908 Nov . 1, 1899 Jan. 1, 1906 Moh. 1, 1916 Apr. 1, 1990 N. Y., Fa:rm."L.-&Tr. Co . Nov : July,·,-90: do ·iast paid. do ..- ....... . ... . .. .............. ..&.. J. J. July, is·o2:·1ast p a id. do do J . & J. 7 do do 7 g. J. & J. 6 g . J . & J. do do 1,..i91 6 1: Juiy · ·i911 Jan. 1, 1937 J uly 1, 1926 .... ......... 1; .i915 Jan:· Jan. 1, Jan. 1. Jan . 1, 1915 1916 1924 IYear Number of p assengers carried and gross earnings have been: end. I Year end. Se t. 30. Passengers. E arnin s. Sept. 30. Passengers. E arnings. 18Wo-81... 75,585,778 $5,311,0~6 1886-87... 158,963,232 $8,102,662 1881-82 ... 86,361,029 5,973,63311887-88 ... 171,529,789 8,673,871 1882-83... 92,124,943 6,386,506 1888-89 . . . 179,497,433 9,080,881 1883-84... 96,702,620 6,723,832 1889-90: .. 185,833,632 9,302,681 1884-85 ... 102,354,729 7,000,566 1890-9\ .196,714,199 9,959,710 1885-86 ... 115,109,591 7,426,216 1891-92 .213,692,570 10,835,978- * Year ending June 30. -(V. 53, p. 224, 5 I 9, 713, 714, 968; V. 54, p. 203, 243, 846; V. 55, p . 639,679,806, 857, 1035; V. 56, p. 127.) . Marietta &; North Georgla.-Owns road completed in Au gust, 1890, from Knoxville, Tenn., to Marietta, Ga., 217 miles ; branch, 7 miles; tral)kage, Western & Atlantic Railroad, Marietta, Ga., to Atlanta Ga., 20 miles; total operated, 244 miles. HISTORY, R ECEIVERSIIIP, &c.-Gompleted in 1890 and consolid ated with Knoxville Southern. Interest defaulted Jan. 1, 1891, and J. B. Glover a:ppointed permanent receiver on Feb. 23. A foreclosure suit was instituted in April, 1892. The Atlantic Trust reorganization plan has been declared operative. See the plan in V. 54, p . 887. In November, 1892, a majority of consols and stock had been deposited with t h e Atlantic Trust Company. It is proposed to consolidate Marietta & North Georgia, 23 1 miles; Knoxville Belt, 4 miles; Knoxville Cumberland Gap & Louisville, 103 miles; Morristown & Uumberland Gap, 40 miles; Chattanooga South· ern, 96 miles-i:lJ total of 474 miles of constructed road. See ea ch company. Extensions to Bristol, Atlanta, Chattanoo~a. and BiL'mingham involve the construction of 174 miles of road. (V. ::>5, p. 995.) OBLIGATIONS.-In addition to bonds in tahle above the company on June 1, 1892, had the following obligations : Receiver's certificates for rolling stock, $246,000; Mar. & Nor. Ga . old 2ds, $6,000; accrued interest on first a nd second mort~ages to July 1, 1892, about $50,000; do. on com,olidat ed mortgage, $5 o-!,630; cont ractora' claims in litigation, $350,000; cash out lay n eeded t o complete improvements deem ed essential, $ 950,000. R eceiver's cer tificates for $1,000,000 were a u· t horized for puttin g r oa d in good condition. Stock {including Kn oxv ille Sout hern), $5,250,000. E ARNINGS.- F r om April 1, 1892, to Aug. 31 (5 months), g-ross e arn · ings $ 87 ,449. (V. 52, p. 121,165, 350,463; V. 54, p. 203,887,924; V. 55, p. 857, 995.) lUarquette Houghton&; Ontonagon.-See DULUTH S.S. & AT. Mason City & Fort Dodge. -Owns r oad from l\Iason City, Ia., to Lelllgh, Ia., 88 miles, and branch, 4 miles. Stock authorized, $5,000,000; outstanding, $920,000; par, $100. Interest due and a ccrued July 1, 1891, $414,000; bills payable, $30,972. In year ending June· 30, 1891, gross earnino-s were $112,231; deficit under operating expenses and taxes, $55,§44. Total deficit to June 30, 1891, $347,608. lliemphis &; Charleston.-( See Map of East Tennessee Vi1·ginia di Georgia.J-Owns from Memphis to Stevenson, Ala., 272 miles; branches -to Somerville, 14 miles; to Florence, 6 miles; leases Stevenson to Chattanooga, 38 miles; total operated, 330 ruiles. Of the consolidated mortgage, $1,400,000 are secured by the old Tennesse State lien for $1,736,1)06, assigned to a trustee. On May 1, 1892, there were $108,124 oar trusts outstanding, m aturing 1892 to 1894. The East Tennessee Virginia & Georgia RR. in September, 1885, placed a majority of the stock {which it owns) in the Central Trust Co. ror control. The right of the E a st Tennessee to vote this stock is contested. (See V. 50, p. 703; V. 52, p. 831.) On July 14, 1892, Henry Fink w a s appointed receiver, and on July 25 C. M. McGhee j oint recei ver in i t erestof the East Tennessee. V. 55,p.100, 177. Coupons due July 1 , 1892, were paid with inter est J a n. 3, 1893, but payment of J anuar y, 1893, coupons was d eferred. See V. 55, p. 21 , 1110. EARNINGS.-Jan. 1 , 1892, to D ec. 31, 1892 (12 months), gross, $ 1,462,264, a g ainst $1,631,769 in 1891. In the year ending June 30, 1892, gross $1,530,019; net, $305,787. In 1890·91 gross $1,747,461; net, $462,850; surplus abovo charges, $96,163. In 1889-90 gross $1,783,729; net, $514,730; surplus over charges, $136,331. (V. 51, p. 276, 456, 612; V. 52, p. 831; V. 53, p. 835; v. 55, p. 21,100, 177.) lli erlden Waterb ur y & Co nnecticut.- Owns from Cromwell, Conn., via Meriden to Wa t erbury, Conn., 30 miles. Leased for 99 years. from Sept. 1, 1892, to N. Y. & New England a't $22,500 per annum, payable in semi·annual instalments directly to trustee of mortgage (Farmers' Loan & Trust Co.), to be applied to interest on bonds. Stock, $500,000; par, $100. {V. 54, p. 367, 648.) lliet ropo lltan W est Side E l evated (C hicago).- Org-anized to build an elevated rail way in Chicago, running from the Board bf Trade Buildin_e; westerly about 4 miles, with branches; t he total length to be 16¾ mi.J.es; first two miles to be four t r acks, the r est two tracks. The· right of way is to be bought and owned in fee, and will be mortgaged to secure the bonds. During construction voting power on stook will be in the hands of G. C. Clar.k, of Clark, Dodge & Co., N. Y.; George C. Alien, of Busk&Jevons, N. Y., and H. L. Higginson, of Lee, Higginson & Co., Boston. V. 55, p. 1035. 0 0 Q MAP OF THE MEXICAN CENTRAL RAILWAY https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AND ITS CONNECTIONS. J . uro.a.aY, 1898.J Snbecrlbers will conCer a great favor by giving ln11nedlate notice of any error discovered In the11e Table1111. I I RAILROADS. ,rn D a te Size, or INTEREST OR DIVIDENDS. BalondBWh-PrtnD of .w.ues A t p , en ue. For explanation of column headmgs, &c., see notes of of Par Out~=.ng Rate per When Where Payable, and by Stooks-Last on first page of tables. Road. Bond1:1 Value. Cent. Payable Whom. Dividend. Mem. LittleRock&Ind. Ter.-lst M.for $1,200,000. Meriden Waterbu1·u & Oonn.-lst mortgage .... __ ... Metr~litan West Side Elevated ( of Ohicago)-Stock 1st . ($15,000,000) gold .......................... Mexican Oent1·al-Btock, $25,600 per mile .......... 1890 ·--· 30 1888 ·-·· 1892 ------..... --·· 1881 1st mortgage (unassented) ........................ . Consol. mortgage, $32,000 per mHe, gold .... c*&r 1,832 1st consol. incomes,non-cum.($9,600p.m.J,Jold.c* 1,832 2d con.inc.$6,400p.m.red.at 50p.c. till Aug. 9290* 1,832 Registered income bonds, unassented ....... . ... r Mexican National-Stock ............................. lat Mortgage, subsidy, golid., drawn at 100 . .... c* 1,064 2dM.,ser."A," g., inc. accum. (for $16,675,000)c* 1,064 2d M.,ser."B," g., inc. non-ac. (for $16,675,000).r 1,064 3d mortgage, deb. (income not cumulative) gold.r Mexican Northeni-Stock ..................... . ...... 1st mortgage, U. 8. gold coin, s. f. not called .... c* Michigan Uentral-Btock .......................... .. . C.onsol. mort.-now 1st M. ($2,000,000 are 5s).c&r M. C. Michigan Air Line, lat mortgale ........ c&r M. C. 1st mortgage on Grand River al. RR .. c&r M. C. lat mo~a&e on Kalamazoo & B. Haven.c&r Grand River a ey stock, 5 per cent rental. ..... Detroit & Bay City lat mortgage endorsed .... c&r Bridge bonds .................................... M. C. lst M. on Det. & Bay City RR., coupon ..... do do registered .. _. Jack.Lans. & Sag. stock, 312 p. c. rentalin perpet'y Cons. mortgage., extended in 1891,assumed.c&r Bait!City & Battle Creek lat M., gold, gu. p. & i.. c Ba e Creek & Sturgis lat M., gold, gu. p. & i. . . c ·ss 83 -·-270 1889 1889 1889 1881 ..... 1887 1887 1887 1887 --·· 1890 ---- 1872 115 1890 84 '79-86 39 1889 84 147 i872 1873 iii 1881 147 1881 295 295 7i&so 18 1889 41 1889 1,000 ....... 5 (1) (1) .... .... 1,000 100 1,000 1,000 1,000 1,000 1,000 100 1,000 500 &c. 500 &c. 1,000 100 1,000 100 1,000 l,000&c 1,000 1,000&0 50 1,000 1,000 .l,000&c 1,000&c 10,000,000 47,841,100 769,000 56,894,000 17,218,000 11,216,000 587,200 33,350,000 11,876,000 12,265,000 12,265,000 7,040,000 3,000,000 1,660,000 18,738,204 10,000,000 2,600,000 1,500,000 700,000 491,200 274,000 150,000 ~ 3,576,000 10 2,000,000 1,000 2,274,000 1,000 250,000 1,000 421,000 Mexican Central (Mexlco).-(See MapJ-Mileage-Main line Mexico City north to El Paso del Norte, 1,224 nilles, 412 miles on Tam• pico Division, 11 mHes on Guanajuato Branch, 161 mHee on Guadala1ara Division and 17 miles on the San Blas Division, 44 mHes on Pachuca Division, and branches 7 miles ; total Dec. 1, 1892, 1,876 miles. ORGANIZATION.-Incorporated February 25, 1880, under the general law of Massachusetts, and also holds a charter from the Mexican Government. Debt readjusted in 1889-see V. 48, p. 191, 292, 327. SUBSIDY.-In July, 1890, a contract was made by which all subsidy paymentR on lines then constructed were discharged by the payment of $14,!l00,634 in Mexican silver. The total subsidy collections from the beginning, including this settlement, amounted to about $17,800,000 in American money. Bee V. 54, p. 765. By the construction of the Pachuca Division the company earns an additional subsidy of $8,000 per mile on 44 miles, payable in Mexican 5 per cents. The company has received under the Tampico Harbor Concession $1,14() ,000 6 per cent Government Bonds corresponding to a depth of 10 feet in the channel. At the present time there are 19 feet in the channel, which entitles the Company to $1,545,000 more bo1.ds, and it wm be entitled to the balance of the total amount of $3,000,000 of bonds when the channel reaches a depth of 22 feet. The $7,000,000 priority bonds were paid off with proceeds of subsidy collections, interest ceasin~ April 10, 1891. Bee V. 52, p. 390. After the payment of the_ priority bonds there was left of the subsidy $4,832,570 to be put m trust and used whenever necessary for the payment of principal and interest of the consolidated mortgage bonds. On Jan. 1, 1892, there remained of the money so deposited $4,600,815, $300,000 having been withdrawn in 1891, as provided for in trust indenture-see income account below and V. 54, p. 765. BoNDs.-The consolidated mortgage 4 per cents (trustee, Boston Safe Deposit & Trust Company) cover the entire property, all old firsts deposited, and the subsidy earnecJ and to be earned. (See abstract of mortgage in CHRONICLE, V. 49, p. 177.) Both series of incomes are non-cumulative and secured by onA indenture to the American Loan & Trust Company. First consolidated incomes received 3 per cent interest July 10, 1890, and 3 per cent in July, 1891 and 1892 respectively. LATEST EARNINGS, &c.-From Jan. 1 to Nov. 30, 1892 (11 monthsi, gross in Mexican cm·rency were $7,212,566, against $6,701,803 in 1891; net, $2,656,605, against $2,396,311. Bee V. 55, p. 938. ANNUAL REPORT-Fiscal year ends Dec. 31. Report for 1891 in V. 54, p. 745, 760, 763, gave a full account of the affairs of the company and its prospects, with earnings, balance sheet, &c. The gross earnings below arE' Mexican currency, all other figures U. S. cu,:rency. INCOME ACCOUNT-(U. S. CURRENCY EXCEPT GROSS EARNINGS). 1888. 1889. 1890. 1891. Av. miles operated.......... 1,316 1,462 1,527 1,665 Gross earnings, Mex. cur.$5,774,331 $6,337,225 $6,425,694 $7,374,539 Net earns., &c .. U. 8. cur .. 1,748,459 2,096,056 1,978,157 2,068,013 Subsidy account ....... _.. 436,060 812,912 601,127 300,000 Miscellaneous.............. 1,273 22,542 17,953 . . ..... . Total net income ...... $2,185,792 $2,931,510 $2,597,237 $2,368,013 Interest on coupon notes. $316,313 $91,981 ........ . . ..... . Interest on 1st mortgage. 1,357,717 1,767,595 2,406,114 2,321,180 Interest on debentures... 250,000 180,067 28,467 . . ..... . Miscellaneous..... . . . . . . . 41,311 105,881 261 39,374 Total .................... $1,966,341 $2,145,524 $2,434,842 $2,360,554 Balance ................ sr.$219,451 sr.$785,986 sr.$162,395 iT$7,459 ,r Balance to credit of income account Dec. 31, 1891, was $503,238. -(V. 53, p. 21,436; v. 54, p. 159, 745, 760,763; v. 55, p. 938.) lUexican National Railroad (lUexico).-Owns from Laredo to City of Mexico, 842 miles; Acambaro to Patzuaro, 96 miles; El Balto branch, 45 miles; Matamoras to Ban Miguel, 76 miles; small branches, 5 miles; total owned, 1,064 miles; controls through ownership of stock, Texas Mexican Railway, Corpus Christi to Laredo, Texas, and branch, 163 miles; other lines, 5 mHes; total 1,232 miles. ORG.ANIZATION.-The foreclosure of the Mexican National Railway took place on May 23, 1887, and the present company acquired 716 mHes of road. Also owns all the Texas Mexican Railway first and second mort. bonds and $2,453,750 of its $2,500,000 capital stock. 8UBSIDY.-The subsidy was $7,000 in Mexican currency per kilometer. Prior to default the former railway company pledged $2,500,000 subsidy certificates to secure $5,000,000 of first mortgage bonds, and at the re-organization this amount became applicable to certain of the A and B bonds for which the $5,000,000 old first mortga~e bonds were exchanged. In the re-organization also, $7,000,000 subsidy certs. were pledged as additional security ror the $12,500,000 new first mortgage bonds, $3,000,000 of which subsidy was then delivered to the trustees and $4,000,000 remained to be earlled. Of this the construction of the 563 kilometers (350 mHes) in the main line earned $3,941,000 of subsidy, but of this amount $939,000 is applicable for the benefit of the five million A and B bonds, leaving $3,002,000 applicable to interest upon the first mortgage bonds when net earntn~s are in deficit to meet the same, and afterwards for redemption or said bonds. The total subsidy appllcable to the new first mortgage bonds was $6,000,000, Mexican money, of which about half has been paid. About $100,000 a month is now being collected. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 450,000 M.&N. N. Y., Holland Tr. Co. May 1, 1940 J. & J.N . Y., Farmers' L. & Tr. July 1, 1925 5 5 g. (7).4 4 g. 3 g. 3 3 ..... ---· New F. & A. Y<lrk; etc. ---------- ....... J. &D. N. Y., Nat. City Bank. M.& B. April 1. May 1 ---·--···· Q.-F. N . Y., office, 42 Pine St. do do J. & D. F. & A.N. Y. Gr'd Cent. Depot. M.&N.N . Y., Union Trust Co. do do 4 J. & J. do do M.& 8. 6 do do M.&N. 5 do do 5per an. J. & J. do do M.&N. 8 do do M.&N. 8 M. & 8.N .Y.,Gr'dCent. Station. Q.-M. N . Y., Union Trust Co. do do 3lgp. an. M. & S. do do M.& 8. 5 do do 3 g. J. & D. do do 3 g. J. & D. 6 g. 6 g. 6 g. 6 g. 6per an. 6 g. See text. 7&5 Aug:1,..i94z J. & J.B oston,SafeDep. &Tr.Co Juiy·1;·i911 do do .fuly 1, 1911 J. & J. July 10 Boston, when earned. Jan.10, 1939 ........... Jan. 10, 1939 ----· .. .. .......... Julyl July 1, 1911 --····---· ---------· I g 1; June· ·i921 July 1, 1917 July 1, 1917 July 1, 1937 Nov.15, 1892 Dec. 1, 1910 Feb. 1, 1893 May 1, 1902 Jan. 1, 1940 Sept. 1, 1909 Nov. 1, 1939 July 10, 1892 May 1, 1902 Mah 1, 1903 Mc . 1, 1931 Moh. 1, 1931 Sept., 1892 Sept. 1, 1901 Dec. 1, 1989 Dec. 1, 1989 STOCK.-Stock, $33,350,000 (par $100), placed in trust with the Farmers' Loan & Trust Company, leaving the road in control of lat rut.d 2d mortgage bondholders until it earns and pays interest on both classes of bonds for two consecutive years, in which event the control reverts to the stockholders. The Mexican National Construction Company owna over $17,000,000 of the capital stock and $7,000,000 of the incomes. B0NDS.-The first mort. for $12,500,000 is a prior lien upon all the lines in Mexico, constructed or to be constructed, and upon the Texas Mexican securities. The bonds are redeemable on notice at par. Trustees Hugh M. Matheson and Charles Magniac. On Jan. 1, 1892, $790,699 raised by sale of first mortgage bonds remained unexpended; $740.z· 975 of this being in capital reserve fund, $141 in betterments funa.and $49,583 held for debts of old company. In 1891 :first mortgage bonds for $319,000, and in 1892 for $305,000, were called and paid. The 2d mortuage bonds, series "A," are strictiy cumulative, and not toreclosable while stock remains in trust as above stated; the 2d mortgage bonds, series "B," are non-cumulative; trustees, Lyman K. Bass and J. A. Horsey. Third mortgage trustees, C. J. Canda andH. A. Risley. LATEST EABNINGS.-From Jan. 1 to Nov. 30, 1892 (11 months), gross $4,240,617, against$3,843,371 in1891; net, $1,499,018, against $1,054,544; after deducting other expen<litures for repairs, replacements and general expenses, net earnings applicable to mterest on bonds were $1,068,759, against $559,634. ANNUAL REPORT-Fiscal year ends Dec. 31. Report for 1891, with the balance sheet, etc., was given in V. 54, p. 596, 603. Gross earnings below are in Mexican currency, all other figures in U.S. currency. INCOME ACCOUNT-(U. S. CURRENCY EXCEPT GROSS EARNINGS). 1888. 1889. 1890. 1891. Miles operated. ....... . . . . . . 1,218 1.218 1,218 Gross ea_rnings ....... $2,404,891 $3,1,660,124 $3,754,966 $4,206,422 Net earrnng:s. ...... .. . $51,049 :;,533,354 $661,604 $892,788 Interest anu discount. 71,023 9,109 14,671 Subsidy receipts...... . . . . . . .. 194,425 305,314 ii2;500 Total net income.. $122,072 Int. on 1st M. bonds.. $630,000 Int. on Tex. M. bonds. 60,880 6,824 Misc., bet'm'ts, etc.... $736,888 $693,000 60,880 32,119 $981,589 $1,005,288 $809,500 $738,835 . . . .. . . . . ...... . 135,654 412,137 Total.............. $697,704 $785,999 $945,154 $1,150,972 Balance .............. df.$575,632 df. $49,111 sr. $36,435df,r$145,684 -'!f The payment from subsidy wipes out this deficit. . -(V. 52, p. 498, 532; V. 54, p. 596, 603, 762, 844; V. 55, p. 256.) Mexican Northern.-OwnsfromEscalon, Mexico, on the Mexican Central Railway, to Sierra Mojada, 83 miles, all steel, completed in July 1891. THE MORTGAGE, of which the State Trust Co. of New York is trustee, is for $1,660,000, of which $58,000 have been purchased for the sinking fund. This fund receives yearly 5 per cent of th~poss earnings and the income from the investments of the same . .None of the bonds are subject to call before maturity. DIVIDENDS from February, 1892, to November, 1892, both inclusive, 112 per cent quarterly (6 per annum.) In February, 1892, an extra dividend of 12 per cent was paid. ililchlgan Central.-(See Map New York Oentral ~ Hudson Ri1'er.)-LINE OF RoAD.-Main line-Kensin~n to Detroit, 270 miles, and Windsor to Suspension Bridge (Canaua Southern), 226 miles; total main line, 496 miles. Branches owned and leased 1,099 miles; ~!!i ::i~~l ¥:i!af;e ~~s ~~i~~ ~e:~fs'id!•~~k~1~ September, 1892, a branch to Lewiston, Mich., 28 mHes, was opened. ORGANIZATION, LEASES, &c.-Tbe Michigan Central was chartered in 1846; the whole line, Detroit to Kensington, was opened in 1852. The lines described above as leased are all held by the Michigan Central nominally under leases at fixed rentals. but are practically owned. In November, 1882, a close contract was made with Canada Southern tor working its road by the J'(lichigan Central and for the division of net profits over all charges as follows-one-third to Canada Southern an two-thirds to Michigan Central; but the Michigan Central was entitled to an increase on this proportion as it diminishes its interest charge by payment of bonds or otherwise, and hence latterly obtained more than two-thirds of the net income. The contract provided for a re-apportion ment every five years and in the re-apportionment December, 1892, it was agreed that the Canada Southern should thereafter receive 40 per cent and the Michigan Central 60 per cent of the first $1,000,000 of net :earnings, any amount over that to be divided as theretofore--onethird to C. B. and two-thirds to M. C. V. 55, p. 1078. CAPITAL STOCK.-The Michigan Central stock has remained at the same amount since 1873. DIVIDENDS since 1882-In 1883, 5; in 1884, 3; in 1885 an.d 1886, nil; in 1887 and 1888, 4; in 1889, 4; in 1890, 5 ; in 1891, 5; in 1892, • February, 312; August, 2 per cent; in 1893, F ebruary, 312 per cent, of which 112 extra. PRICE OF STOCK.-ln 1884, 5134 '@94¼: in 1885, 4619'@7934; in 1886, 61¼'@98¾; in 1887, 80'@95¼; in 1888, 72@9218; in 1889, 8412@9914 in 1890, 83@104¾; in 1891, 8712@109 7 s; in 1892, 1021vll 7; in 1893; to Jan. 20, inclusive, 104tt106½. BoNDs.-The Jackson Lansing & Saginaw bonds wero assumed by Michigan Central, which also pays $70,000 per year on the stock of $2,000,000. The total issue of Battle Creek & Sturgis bonds is $500,- ~l4 \i Subscribers -will confer a great favor by giving imm.ed iate notice o f any erro r d isco vered I n t hese Tables . RAILROADS. For explanation of column headings, &c., see notes on first page of tables. Mi ddlesbm•oufh Belt-1st mort. for $1,000,000 .... c M iddlesw Va .-lstM.$600,000,g.,($20,000p.m.)c* Middletown Un. <I: W. Gap-lstM., ext. in'86 ..... . c* 2d mort. ~ar. interest, reduced to 5 per cent.. . c* ake Sho1·e cl: Western-Common stock .. Preferred stock, 7 per cent ........................ Consol. mort. (now 1st mort.) $12,000 p. m. aold Michigan Div. 1st mort. (for $3,000d.000), gol . c* Ashland Division 1st mortrge, gol ............ c* 1st Ms.Hurley& Onton.br'c es,gold,(dr'nat 100).c Conv. debentures, secured by mort of 1889, g . . ox Ext. & Imp. M. for $5,000,000, gold,s.f. not dr'n.c* Income bonds (not cumulative) .................. r Equip. l>0nds 1885 ($100,000 drawn yearly) .... o St. Paul East. Gr'd Trunk lst,M. gold,int. ~uar.c* .Milwaukee d: Lake Winnebago-1st mort., god .. . c* Income mort. (cumulative), gold, interestpaid.c* Debentur es, convert., gold, see remarks ........ c* Milw. d: Northern-1st mort., Schwarz.to Gr. Bay.c* Cons. M. ($17,000 B.m.),lstM. north of Gr.Bay.c* Mine Hill <I: Schu11lki l Haven-Stock 712 c. rental Miner~lRange-Newconsol. M., gold,re .at105 .. c Milwaukee K· Minneapolis d: St. Louis- Common stock ..................................... Preferred stock .................................... 1st M.,Minn.toMerriam.Jc................. .. ... . c* lstmort.1 MerriamJ·unction to State Line,gold.c* 1st M. Minn.&Dul.,Minn.to WhiteB.Lake ........ * Iowa exten. 1st M., g. (Al. Lea to Fort Dodge) . . c* Imp. & equip. M., 1st & 2d ser.,jun. lien on road.o* INTEREST OR DIVIDENDS. Bonds- Prtnol Miles Date Size, or Amount pal, When Due. of of Par Outstanding Rate per When Where Payable, and by Stot:k~-Last Road. Bonds Value. Cent. Payable Whom. D1V1dend. 16 32 13 ---.... .... ·i:i5 40 16 531 531 ·--· .56 65 65 ii6 362 53 17 1890 $1,000 .... ... . 27 93 15 102 360 . .. . . ... 1877 1877 1877 1879 1882 100 100 1,000 500&c. 1,000 1,000 1,000 -000, but of this $79,000 was sub-guaranteed by the Lake Shore & Mich- ~an Southern, 7 miles of theB. C. & S. being operated by that company. The Bay City & Battle Creek and the Battle Creek & Sturgis issues both -0arry the guaranty, endorsed on the bonds, of the Michi~an Centra,1. In addition to bonds in table M. C. guarantees $800,000 Johet & Northe rn Indiana 7s. OPERATIONS, FINANCES, &c.-The road is operated under a close contract with Canada Southern, and the earnings of both roads are included in the statistics below. Nothing has been charged to either the construction or equipment ac.count since 1883, all betterments having been charged to operating expenses or income account. The funded debt was reduced as usual in 1891 by the purchase and cancellation for the sinking fund of $250,000 in bonds secured by the fiTst mortgage. The operating ex]>enses in 1891 include $1,016,367 expended for additional second track, new b ridges, etc., and $974,890 for new equipment purchased. ANNUAL REPORT.-Fiscal year ends Dec. 31. Annual meeting is held -0n the Thursday following the :first Wednesday in May. Report for 1891 was in V. 54, p. 760. See also V. 54, p. 742. Advance statement f or 1892, D ecember p artly estimated, was in v. 55, p. 1060, 1078, a s follows: 1892. 1889. 1890. 1891. Miles operated..... 1,540 1,609 1,609 Gross earnings .... $13,786,925 $14,490,711 $15,162,960 $15,800,000 Oper'ng expenses.. 9,895,158 10,731,754 11,107,569 11,879,000 Net earnings .... 3,891,767 3,758,957 4,055,391 P. c. op.ex. to earns. 71·77 74·06 73·25 Net,inol'gotherino.$3,938,433 $3,816,450 $4,114,019 Rentals paid........ $184,310 $184,310 $184,310 Interest on debt.... 2,328,216 2,2 7 0 ,,2,2 2 2,2·5·4·.'9.·7·7· Miscellaneous...... 7,731 1 3 4 23 Can. Southern share 407,444 355,633 446,776 I 3,921,000 75 ·18 $3,976,000 2,402,000 401,000 Total p ayments. $2,927,701 $2,944,688 ·$2,886,063 $2,803,000 Sur~lusfordiv'ds . .. $1,010,732 $871,762 $1,227,956 $1,173,000 Dividends ........... (5) 936,910 (5) 936,910(512)1030601(5½)1,030,601 Surplus . . . . . . . . . $73,822 def.$65,148 $197,355 $142,399 * Balance to credit of income account Dec. 31, 1891, was $2,296,747· -(V. 53, p. 337,968; V. 54, p. 742,760; V. 55, p. 4, 21, 1078,l 1'Ilddle Georgia & Atlantic -In operation from Maachen to Eatonton, Ga., 18 miles, and projected from Savannah to Atlanta, about 236 miles. Construction undertaken by the Seaboard Construction Com• pany, which owns most of the stock, J. D. Weed, President, and in November. 1892, it w as reported that the line would be at once com· pleted to Covington, m aking 44 miles in all. (V. 53, p. 126.) lUiddlesex Valley.-Opened for business in October, 1892, from Naples, N. Y., northward to Stanley, N. Y., 22 miles. • $424,000 6 J. & J. N.Y.,Atlantic Trust Co. July 1, 1930 440,000 5 g. N. Y., Central Trust Co. 150,000 5 g. M. &··N . N. Y., N. Y. Susa, & W. Nov:·1;·fa11 250,000 5 J. & D. do o Dec. 1, 1896 2,650,000 7in'91 N. Y., Office 52 Wall St. Feb. 16,1891 5,000,000 7per an. F_-·&··A. do do Aug. 15, 1892 5,000,000 6 g. M.&N. do do May 1, 1921 1,281,000 6 g. J. & .J. do do .July 1, 1924 1,000,000 6 g. M. & S. do do Moh. 1, 1925 100,000 6 g. A. & 0. do .do Apr. 1, 1896 500,000 5 g. F. & A. do do Feb. 1, 1907 4,500,000 5 g. F. & A. do "' do Feb. 1, 1929 500,000 M.&N. 6 do do May 1, 1911 200,000 J. & J. do 6 do .Jan. 1, 1895 1,120,000 6 g. .J. & .J. do do .Jan. 1, 1913 1,430,000 6 g. .J. & .J. N.Y.,36WallSt. &Bost. .July 1, 1912 520,000 5 g. J. & .J. do do .July 1, 1912 239,000 6 g. A. & 0. do do Apr. 1, 1904 2,155,000 6 J. & D. N.Y., Ch. Mil. & St. Paul .June 1, 1918 4,003,000 .J. & D. do do 6 .June 1, 1913 4,210,200 See text. .J. & .J. Phila.,Office, 119 S. 4th. .Jan. 16,1893 600,000 5 g. .J. & .J. N. Y., Third Nat. Bank. .Jan. 1, 1931 -- -- ..... 1866 100 &c. 1871 500 &o. 100 .... 100 issi 1,000 1,000 1884 1,000 1885 1,000 1886 1,000 1887 1,000 1889 1,000 1881 1,000 1885 1,000 1883 1,000 1882 1,000 1882 1,000 1884 1,000 1880 1,000 1884 50 is9i 500 1'Ilhvaukee Lake Shore & ,vestern.- Owns Lake Shore .Junction to Ashland, Wis., 387 miles; Monico to Hurley, 88 miles; b;oo,nches in (seven number) to Oshkosh, Wausau, &c., 169 miles; branches to mines, 33 miles; spurs to mills, &c., 47 miles; total owned, 724 miles; leases, Milwaukee to Lake Shore .Junction, 4 miles; St. P. E. G. T., Clinton to Oconto, 33 miles, and spurs, 4 miles; total leased, 64 miles; total owned and leased, 788 miles; but only 753 miles operated, 30 miles of spurs being leased to various manufacturers. In December, 1891, the stock was exchanged for stock of the Chicago & Northwestern RR. Co. on terms mentioned in V. 55, p. 218. The debentures are convertible into stock at par at any time within ten days after the date :fixed for payment of dividends on common stock. The equipment bonds of 188G are subject to call $100,000 per year at 105, and the Ontonagon 1st mortgage $25,000 per year at par, and all redeemable at 105. The extension and improvement mortgage · of 1889 sinking fund commences in 1893, and will receive yearly not less than $25,000; these bonds are not subject to call. The annual report for 1891 was in V. 54, p. 596. In 1891 gross earnings were $3,534,104; net, $1,3.t6,457; interest paid, $748J.746; rental and miscellaneous, less miscellaneous income ($4,750), ;r,34,740; dividends (7 on pref.), $350,000; sinking fund, etc., $160,000; balance, surplus, $22,871. In 1890 gross $3,848 ,567; net, $1,432,637.-(V. 53, p. 95, 673, 921; V. 54, p. 119, 328, 596; v. 55, p . 218, 894.) 6,000,000 4,000,000 455,000 950,000 280,000 1,015,000 4,000,000 ..... . .... . ... ---------··-· --·· 7 g. .J. & .J. Last pa.iii .Jttly; 1892. .Jrui.: · 1; "i907 ---- 7 g. .J. & D. Last paid .June, 7 g. M.&N. Last paid May, 7 g. J. & D. Last paid Dec., 6 .J. & .J. Last paid .July, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis June May .June .July 1, 1927 1, 1907 1, mos 1, 1922 B0NDS.-The $1,000,000 debentures are convertible on any coupon day into preferred stock; the lessee pays interest on them during :first ten years after issue. Rental in 1891-92, $200,843; in 1890-91, $198,591; in 1890, $199,372; in 1889, $180,689. Milwaukee & Northern. -Schwartzburg, Wis., to Champion, 254 miles; branohes-Sidnaw to Ontonagon, 47 miles; branches, 61 miles ; total, 362 miles, under construction from Channing, on its main line, to Sidnaw, about 44 miles to be completed in 1892. In September, 1890, the Chicago Milwaukee & St. Paul gave one share of its common stock for each share of the Milwaukee & Northern. The "question of combining the two properties" was under consideration in 1892. From .July 1, 1892, to Nov. 30, 1892 (5 months), gross earnings were $761,262, against $823,772 in 1891; net, $265,782, against $349,576. In year 1891·92, gross earnings were $1,765,367; net, $642,904, a~alnst $619,803 in 1890-91: interest, $369,678; balance, surplus, $~73,226.-(V. 51, p. 240, 275, 383, 416.) Mineral .Range.- Houghton, Mich., to Calumet, Mich., 15 miles; branch, Franklin Station to Franklin, 2 m.; total, 17 miles (3-foot gauge. HISTORY, ETc.-Operated in close connection with Hancock & Ca.1umet (which 1,ee.) Receiver appointed in .June, 1888, was discharged Nov. 30, 1889; company reorganized in 1891. In December, 1892, a controlling interest in the stock (whole issue, $400,000-par $100) was purchased by parties interested in the Duluth South Shore & Atlantic. V. 55, p. 110. BoNDs.-The consolidated mortgage covers all the property, including $250,000 of Hancock & Calumet stock, which is five-sevenths of the whole issue. On January 1, 1892, old bonds outstanding were $65,600; equipment notes, $142,500. From Jan. 1 to June 30, 1892 (6 months), !rrOSS earnings were $66,187, against $64,035; net, $27,486, against $28,807 in 1891. In 1890 irtoss earnings, $125,469; net, $62,666. Gross earnings m 1891, $146,505; net, $71,556. President, Charles Bard; Secretary, .John Tully, 40 Wall Street. (V. 54, p. 557; V. 55, p. 1110.) Minneapolis & St. L o uls.-Owns main line, Minneapolis to Angus, Ia., 259 miles; Pacific Division, Hopkins to Morton, 92 miles; Kalo Branch, 2 miles; Lake Park Branch, llg miles; total operated, 8541g miles. Leases trackage from Minneapolis to St. Paul over St. Paul & Northern Pacific Railroad; also owns from Minneapolis to White Bear, 12 miles, which is leased to the St. Paul & Duluth Railroad. HISTORY, DEFAULT, ETC.-This company was organized in 1870. The .Jan., 1888, coupon on equipment bonds went to default. W. H . Truesdale, President, was appointed receiver in .June, 1888, in the foreclosure suit under improvement and equipment morto-age. In August, 1892, the stockholders appointea a committee consisting of F. P. Olcott, August Belmont, W. A. Read, W. L. Bull and J. Kennedy Tod to protect their interests, and were depositing their stock with the Central Trust Company in exchange for negotiable receipts. In October, 1892, the stockholders' committee were given a majority of the board of directors; a new plan of reorganization is about ready. See V. 55, p. 256, 289, 590. BONDS ,ETc.-Total annual :fixed interest charge is $566,000, and $35,000 is accruing yearly on the income bonds which matured Jan. 1, 1891. The Chicago Rook Island & Pacific is understood to own a large block of the improvement and equipment bonds. Bonds issued under the mortgage due .June, 1927, numbered from 1,101 to 1,400, for $500 each, ada.itional to those above, were assumed by the Burl. Cedar Rapids & Northern RR. The rental from the St. Paul & Duluth RR. Co. is applicable by order of court to coupons on Minn. & Dulutn bonds, due Maiy 1, 1907. PAYMENT OF COUPONS.-About Se_pt. 28, 1892, two coupons were paid on the improvement bonds, and m .January-, 1893, the receiver was allowed to pay coupons on several other issues. The last coupon paid on each loan, including those then advertised, is 1,hown in the table above. Under the decision of the Supreme Court rendered in January, 1893, the receiver announces" that all coupons in arrears will soon be paid on Minn. & Merriam Junction, Merriam Junction & State Line, and Pacific Extension bonds, and probably one or two more each on Iowa Extension and Improvement and Equipment bonds." LATEST EARNINGS.-.July 1, 1892, to Nov. 30, 1892 (5 months), gross $935,596, against $922,356 in 1891; net, $372,116, against $401,619. ANNUAL REPORT.-Fisoal year ends .June 30. Report for 1891-92 was 55 given in CHRONICLE, V. '1¾·8i::9. 1889-90. 1890-91. 1891-92. Gross earnings ............ $1,330,519 $1,507,124 $1,605,364 $1,985,033 Oper. exp. and taxes..... 996,559 1,001,950 1,069,146 1,186,601 Net earnings .......... u33,960 31,665 Total net income...... $63,873 Rentals paid .... . . .. ...... 9,800 Interest paid during year Milwaukee & Lake Wlnne·bago.-Owns Neenah to Schleisingerville, Wis., 65 miles. Leased for 99 years to Wis. Cent. at 3712 per Total .................. $73,673 cent of gross earnings as rental; but after $175,000 ~er year is re• Balance, surplu .......... $357,992 ceived, the balance of net earnings is to be equally divided. CAPITAL STOCK.- Preferred st ock, 6 per cent cumulative, $780,000; cemm011 Ktock, $520,000; p ar of Ahares, $100. Preferred regularly J)a)' i111- 1Feb. and I ug.) 412 per cent, being regular pretereuce 01 6 per cent, a nd. on account of a ccrued back dividend an a-dditional 3 per ~nt-i. e., 9 per cent per annum in all. 1892. 1892. 1888. 1888. -- $505,174 $612,041 $62,281 312,873 1536,218 651,477 $65,02a 217,860 $798,432 $925,635 $61,797 35,525 $97,322 $375,154 $282,885 $236,887 *$368,592 *$828,313 * Additional expenditures out of income for improvements, equip ment, &c., $269,294 in 1890-91, and $255,278 ill 1891-92. -(V. 52, p. 321,608,642,681,718,940; V. 53, p. 368, 436,602; V. 54, p. 443, 721, 762, 964; V. 55, p. 256, 296, 298, 373, 590, 806; V. 56, p. 127.) MAP OF THE MINN.EAPOLIS 1 ST, PAUL 8c SAULT STE, 'MARIE M A P O F THE MINNEAPOLIS, ST. PAUL - ANDSAULT STE. MARIE RAILWAY & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ss INVESTORS' SUPPLEMENT. Snb ■crlber■ [Vor.. LVI. wtll conf'er a great Cavor by giving tnunecllate notice o~ any error discovered In these Tables. Bonds-PrineJ INTEREST OR DIVIDENDS. I RAILROADS. Miles Date Size, or pal,When Due A.mount Rate per When Par Outstanding of For explanation of column bee.dings, &c., see notes of Where PMi~~~• and by Stocks-Last Cent. Payable Road. Bonds Value. on first page of tables. Dividend. Minneapolis cl; St. Louis.-( Concluded)- - - --- Mort.on Southwestern extension($12,000 p.m.)c* 53 2d, M., income, gold (White B'r to Ft. Dodge) ... c* 224 92 Pacific extension, 1st mortga~e, gold ........... c* Minn. St. Paul cl; Sault Ste. Marie.-Common stock. .... Prefened stock, 7 per cent, non-cumulative ..... ---· Minn. Sault Ste. Marie & Atlantic 1st M. gold .. c~ 495 Minneapolis & Pacific. 1st M., $15,000 p. m., g .. c" 286 Consol. M. (for $21,000,000), $20,000 p. m., g .. c* 879 Income certificates ................................ ---Car trusts ........................................... ...... 28 Mississquoi Valley-Stock, 4 p. c. rental Cent. Vt .. ..... .Mtssouri Kansas c1; Texas.-Common stock .......... Prefened stock, 4 per cent non-cumulative ...... ---Tebo. & Neosho 1st mort., gold, s. f., red. at 100.. 100 M. K. & T. 1st mortgag1Jlold .................... . 1,601 2d mortgage, (income · Aug., 1895) gold ...... 1,601 Def. payments for oars, etc., 2 ser. (on July 1, '92) .... Kansas City & Pacific 1st mort., gold, int. guar. c* 125 67 Dallas & Waco 1st M.,$20,000!..m., g.~.& i. gu.c* Mo.Kan.&Easterr.lstM.,gol ,gu.p. i.(end.).c* 166 2d M. for $500,000 fi:°1d, guar., p. & i. (end.)... 166 M. K.& T. in Texas 1st ., $20,000 p.m., ~ld, gu.c* Booneville Bridge, leased,lstM.,g.,gu., 'n at 100 B. W. Coal & Imp lstM. guar. p. & i. end. s. f. in '99. llusgu,ri Paciftc-Stock .............................. ---· Pac. RR. of Mo. 1st mort., extended in 1888, gold 283 2d mono, extended in 1891 in gold ............ o 283 1st mort., real estate, extended in 1892, gold ... 13 1st M. Carondelet Branch, gold,~· p.& i.(end.) 34 M. (cover'g all property of Pacific RR. of Mo.) 296 55 . . LexinITTon. & Louis St. Mo. Pacific 1st mort. on Consolida.ted mortgage, $30,000,000, go d ... o* ,1,076 ---· ------· ---- 1880 $1,000 1,000 1880 1,000 1881 100 100 1,000 isss 1,000 1886 1,000 1888 1890 ----- $636,000 500,000 1,382,000 14,000,000 7,000,000 8,280,000 3,486,000 10,834,000 771,000 104,471 ...... --·· 500,000 ---· 100 47,000,000 .... 13,000,000 100 ---187,000 1,000 1870 1890 500 &c. 30,813,000 1890 500 &c. 20,000,000 907,784 ia90 1:000 2,500,000 1,340,000 1,000 1890 1,000 1892 "> (1) 1,000 1892 (1) 1,000 1892 696.000 1873 ---·600,000 1,000 1889 100 47,432,850 i868 1,000 7,000,000 2,573,000 1,000 1871 800,000 1872 500 &c. 245,000 500 1873 3,828,000 1,000 1876 650,000 1880 500 &c. 1,000 14,904,000 1880 ---· ---- Minneapolis St. Paul & Sault Ste. Marie.-( See Map.)- , Owns Minneapolis to Bault Ste. Marie, Mich., 491 miles; branches, 15 miles · from Minneapolis northwest to Kulm, No. Dak., 308 miles; Hankinson to Cathay, No. Dakota, 162 miles; trackage in Minneapolis, St. Paul, etc., 19 miles; total, 995 miles. Extension projected in 1892 northwesterly from Cathay to the International Boundary, 180 miles, to be completed in 1893. At the Boundary connection will be made with a branch of the Canadian Pacific, affording a through line from the Pacific to St. Paul and the East. See V. 55,p. 297. HISTORY.-Formed May, 1888, by consolidation of the Minneapolis Sault Ste. Marie & Atlantic, the Minneapolis & Pacific, etc. (See V. 46 pp 538 609) Controlled in the interest of the Canadian Pacific · · ' • · STOCK,-After payment of 7 per cent on preferred, common and pre:ferred share pro rata. BoNDs.-Can. Pac. guarantees by endorsement 4 per cent interest on the bonds. (See V. 50, p. 784; V. 51, p. 239.) About one-half the Minnea.polis & Pacific bonds and practically all of the other issues have assented to the reduction of interest to 4 per cent.. V. 54, p. 7~9. Abstract of Minneapolis Sault Ste. Marie & Atlantic mortgage m V. 45, p. 243. Under the consol. mortgage of 1888 (trustee, Central Trust Company, mortgage ~bstra.ct qHRONICLE, V. 47, P: 142) sufficient bonds w~re rt-serv d .to retl!e the pr10r bonds at mat~1ty_; see V. 52, p.,608. Bills payable, illCludmg car trusts Nov. 1, 1892, $022,483; due Canadian loan account, $1,592,793. See V. 55, p. 723. E.AimINGS.-From Jan.1 to Nov. 30, 1892 (11 months), gross, $2,980,931, against $2,299,907 iJ?. 1891; net, $1,116,404, a"'ainst $.915,871. In year 1891 gross earrnngs, $2,590,896; net, $99'0,016; mterest on bonds, $846,036, rentals, &c., $1U_'i,364; balance, surplus, $28,616. See V. 54, p. 847. In 1890 gross earnmgs,$2,013,370; net, $669,004. (V. 51, p. 239, 416; V. 52, p. 280, 608; V. 55, p. 723, 995.) Missouri Kan■ as & Texas.-(See Map.) ROAD.-The lines, clearly shown on the map, embraced Jan. 1, 1893, the following: 7 g. J. & D. Last paid Dec., 1887. 7 g. J. & J. Last paid Jan., 1888. 6 g. A. & 0. Last paid Apr. l, 1892. ..... ---- ---·..&.. ·------·-- Morton~ ·B.do& Co. 4 (5) g. .J. J. N. Y., 4 (5) g. J. & J. do 4 (5) g. J. & .J. do ..... 4 per.an. ------7 g. ----..&.. J. ----- do New Y·ork·&·cwcago. J. St. Albans, Vt. ---------· J. ··&·n. N. Y. Office, 45 Wall St. 4 g. J. &D. do do 4 g. F. & A. 2d coup. paid Feb. '93. ..4.g. F. ·&:A. N. Y., Central Tr. Co. 5 g. M.&N. N. Y. Office, 45 Wall St. 5 g. A. & 0. do do 5 g. A. & 0. do do 5 g. M.& s. do do 7 g. M.&N. do do J. & J. 6 do do Bee text. Q.-J. N. Y., Mercantile Tr. Co. 4 g. F. & A. do do 5 g. J. & J. do do 5 g. M.&N. do do 6 g. A. & 0. do Elo M.&N. do 7 do F. & A. 5 do do 6 g. M.&N. do do De0. 1, 191 0 Jan. 1, 189-1 Apr. 1, 1921 ------·1; Juiy · ·i926. Jan. 1, 1936 July 1, 193 B July 1, 1900 1896 & 1897 Jan. 1, 1893 ............ 1; June· .i9o3 June 1, 1900 June 1, 1996 to '98 & 1905 Aug. 1, 1990 Nov. 1, 1940 Apr. 1, 1942 Apr. 1, 1942' Sept. 1, 1942 May 1, 1908 1929 July 15, 1891 Aug. 1, 1938 July 1, 1938 July 1, 1!)38 Oct. 1, 1893 Nov. 1, 1906 Aug. 1, 1920 N~v._!,_!!2& The bonds issued on the St. Louis Extension by the Missouri Kansas & Eastern are guaranteed by the M. K. & T. The mortgage is :for $4,000,000. See V. 54, p. 433, 887. See above. The M. K. & T. in Texas in August, 1892, filed a mort~age to secure $10,000,000 of bonds at $20,000 per mile for extensions in Texas. They are guaranteed principal and interest and are so endorsed; trustee Central Trust Co. See above. The Southea~tern Coal & IID:provement .Co.'s bonds were guaranteed by M. K. & T. ill 1891·92 on its purchasmg control of the property~ which incl~des. 15,000 acre.s of .coal 1!1-nds, the .Denison & WaE!hita Ry., l5 ~les ill len~h, 1!11!1°8 ~n acti';e operat10n, e~c. The direcl revenues m year 189.L-~2, itis said sufficrng to meet the mterest on thebonds. The mortgage 1s for $1,000,000. Deferre.d payments due for cars, etc., on July 1, 1892, were-payments extending till February, 1898, $605,388; payments extending till . November, 1905, $302,396. GENl!lRAL FINANCES.-ln 1888, when receivers were appomted, the road was dis~embered and in bad physi!}al condition. Since t~en l~rge expenditures. have be~n made for u:~provement!\ connectin~ links have been bmlt, the line to Kansas City has been leQ,sed, ana early in 1893 extensions will be completed to St. Louis and Houston. LATEST EARNINGS.-From July 1 to December 31, 1892 (6 months), gross (partly estimated) were $5,716,561, against $5,6:.:9,050 in 1891. ANNUAL REPORT.-Fiscal year ends June 30. Report for 1891-92 was in CHRONICLE, V. 55, p. 937, showing large amounts spent for improvements. Earnings, etc., have been as below, the Receiver having been in possession till July 1, 1891. 1891-92. 1890·91. 1889-90. Year ending June 30.Av. 1,674 1,724 Miles operated June 30 ...... 1,774 $1,870,26~ $1,918,884 PasRenger........... ·-········ $1,757,666 7,319,912 6,918,355 Freight........................ 6,201,562 560,382 515,252 586,547 Mail, express, etc............ ---- ---- $9,750,563 $9,352,491 Gross earnings ............. $8,545,775 $7,317,493 $6,583,842 Oper. expen es and taxes .... $6,747,803 Kansas City & Pacific Ry.Hannibal, Mo., to Denison, 2,433,070 2,768,649 Net earnings...... ........... 1,797,972 Stevens, I. T., to Paola, Kan.130 Tex ............................ 577 2,433,070 2,774,578 Total net income......... 1,817,724 Sundry branches . . . . . . . . . . . . . 324 Interest on bonds & rentals. { Road operated by { Denison, Tex., to Boggy Tank, 2,259,827 •.rex ............................ 348 94 ,300 receiver. Renewals, &c ...... .......... 5 Total operated Jan. 1, '93.1,708 Denison via Greenville to Hillsboro ..................... 172 Under construction··-· $2,354,127 .................. ····-······· .... disbursements Total St. Louis Exteni,ion . . . . . . . . 166 Surplus......................................................... Parsons, Kan.,to Junction City, $78,943 80 Boggy Tank to Houston.... Kan ................... ........ 157 -(V. 53, p. 21, 95; V. 54, p. 159, 288, 433, 441, 443, 444, 844, 845, Of the main line, 71 miles, Fort Worth to Whit,esboro, is operated 887, 1009, 1047; V. 55, p.146, 177,298,590,937; V. 56, p. 42.) jointly with the Texas & Pacific. The Holden Branch, 54 miles, owned Dilssouri Paclfic.-ROAD OWNED AND OPERATED.-Operates main bv M. K. & T., is leased to VI o. Pac., and not included in above mileage. line St. Louis Mo., to Omaha, Neb., 496 miles; Pleasant Hill, Mo., to The East Line & Red River RR. [Jefferson, Tex., to Greenville, 121 Joplin, Mo., 133 miles; Verdigris Valley Independence & Western RR. miles, narrow gaus-e and branch to McKinney, 32 miles standard and extension-Leroy to Dee~, Kan., 81 miles; Leroy & Caney Valgauge) whose secunties are deposited in trust under the M. K. & T. 52 miles; small lines in Kansas, Missouri and mortgages of 1890 was taken out of system in April, 1891. When ley-R•per to Peru, Kan., Pacific system proper, January r. total miles; 780 Nebraska, made standard gauge it will be turned over to a new company to be 1892, 1,54.2 miles, of whichMiMourl 1,241 miles are owned and 301 miles opercalled the Sherman Shreveport & Southern. ated under lease. ORGANIZATION, HISTORY, &c.-The Missouri Kansas & Texas Company Also operates certain "branch lines" which have a separate corpo:r-was organized April, 1870. In May, 1881, it was leased to the Missouri ate existence, but which are nevertheless an integral i,art of the e;v:s-Pacific, but on June 1, 1888, default was made on interest payments, tem, most of their bonds being pledged to secure Missouri Pacifie and receivers were appointed. Reorganized in 1890, without foreclos· issues. The branch liDAP include the Kansas & Colorado Pacific, affordure, in accordance with plan in V. 49, p. 719, the old first mortgage ing a direcli line from Ottawa, Kan., to Pueblo, Col., /540 miles, and being paid off at par. The receivers were discharged July 1, 1890. having a total mileage operated of l,!H9 miles, this including the In October, 1891, to meet the requirements of Texas laws, the Pueblo & State Line RR., 152 miles, leased. Other branch lines, 130 "M. K. & T. Railway Company of Texas" was formed, with a capital of miles. Their total mileage January 1, 1892, being 1,649 miles. Tota.I $8,000,000 to consolidate all this company's roads in Texas. The entire Missouri Pacific and branch lines, 3,191 miles. stock is deposited with Central Trust Co. as trustee for the benefit of Also operates Central Branch Union Pacific, 388 miles; Sedalia War• the M. K. & T. security holders. (V. 54. p. 1047; V. 55, p. 298.) saw & Southwestern. Sedalia to Warsaw, 43 miles: St. Louis Iron MounThe Missouri Kansas & Eastern (see below) is building from Boonville tain& Southern and leased lines, 1,547 miles; Houston Central Arkanto St. Louis, 166 miles. Its stock is all owned. See V. 54, p. 887. sas & Northern, McGehee, Ark., to Riverside, La., 119 miles. Grand M. K. & T. owns entire capital stock of the Galveston Houston & total Missouri Pacific mileage January 1, 1892, 5,289 miles. Henderson, operated under lease by International & Great Northern. ORGANIZATION, LEASES, &c.-The Pacific RR. of Missouri was sold in LAND GR.ANT.-Land grant in Indian Territory 3,110,400 a.cres, sub- foreclosure September 6, 1876. The present company was a consolida, tion in August, 1880, embracing the Missouri Pacific and minor roads. ject to extinguishment of the Indian title. (V. 55, p. 937.) The St. Louis Iron Mountain & Southern stock is mostly owned by the PRICE OF STOCK.-Common stock: In 1892, 13 to 2034; in 1893 to Missouri Pacific. Complete control of the International & Great Jan. 20, inclusive, 137s1i> l53a. Preferred stock: 241i>331s; in 1893 to Northern walil secured in 1892. See V. 54, p. 366. Jan. 20, inclusive, 251i>283a. STOCK.-Increase of stock to $55,000,000 was authorized in July. BoNDs.-Full abstracts of the first mortgage of 1890 (trustee Central 1890, and may be made as stockholders from time to time determine. Trust Company) and of the second -mortgage (trustee Mercantile DIVIDENDS since 1880 have been: In 1881, 6; in 1882, 614; in 1883 Trust Company) were. in V. 51, p. 495. Both mortgao-es cover to 1887, inclusive, 7 yearly; in 1888, 514; in 1889, 4; in 1890, 4; in 1891.. securities of proprietary lines, as well ail 1he lines owne<l directly. January, l; April, l; July, 1; none since. Payment of interest on the new second mortgage bonds is not obligatory PRICE OF 8TOCK.-ln 1883, 86w106 7s; in 1884, 63121i>100; in 1885, 1'919 till after August 1, 1895, and is not cumulative, but in February, 1892, 1i>lll~; in 1886, 100 34Wll9; in 1887, 84~1i>ll2; in 1888, 6614W89~; on coupons pay to agreement The paid. the coupon of 2 per cent was In 1889, 64121i>78; in 1890, 531i>7914; in 1891. 54141i>771s; in 1892., the second mortgage prior to August 1, lb 95, is conditioned "upon 53 7s1i>65~; in 1893 to Jan. 20, inclusive, 55~1i>59 7s. such net earnings as shall remain at the expiration of each six montb.s BONDS -The consolidated mortgage is for $30,000,000-trustees John after payment of operating and maintenance expenses, taxes, repairs, F. Dillon and Edward D. Adams. Of the consolidated bonds the balance renewals, replacement , insurance and interest on the first mortgage unissued is in the hands of trustees to redeem prior bonds as they fall bonds.'' On Aug. 1, 1892, no interest was paid on 2nd mono-. bonds, due. See abstract of mortgage in CHRONICLE, V. 47, p. 287. since not earned in tbe six months then ended, (Bee V. 55, p. 937), but The collateral trust bonds due 1917 (Union Trust Company of Newin February, 1893, the l'ull 2 per cent was paid. (V. 56, p. 127.) York, trustee) are secured by mortgage bonds of new roads at $12,000 GUARANTY.-Interest is guaranteed on $2,500,000 Ka:nsas City & or $15,000 per mile. For securities pledged, &o., see V. 46, p. 678. As to collateral trust bonds due in 1920, see V. 50, p. 669, 874. Pacific 4 J!er cent bonds and on the Booneville Bridge 7s, and prin• cipal and mtere~t on Dallas & Waco bonds (issue limited to $1,340,000). The Leroy & Caney Valley Railroad in Kansas, 80 miles, is leased a.net Lines owned and controlled. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Miles. Linesowned andcontrolled. Miles. JANUARY, 1892.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. 89 MAP OF THE MISSOURI KANSAS & TEXAS RAILWAY. • INVESTORS' SUPPLEMENT. 90 [VOL. LVI. Subscribers -will conCer a great favor by giving lnunediate notice of any error discovered In these •.rabies. RAILROADS. INTEREST OR DIVIDENDS. Bonds-PrlnotMiles Date Sfze,or Amount paJ,WhenDne. For explanation of column headings, &o., see notes of of Vpalaure. Outstanding Ra:Cteenpt_er When Where Payable, and by Sto<;kf;-Last on first page of tables. Road. Bonds Payable Whom. Dividend. Pacijw-( Concluded.)Gold collateral trust bonds ($15,000,000) ... c*&r 1,120 1887 $1,000 $14,376,000 1st collateralmort. bonds for $10,000,000 gold.o* 470 1890 1,000 7,000,000 Boonville St. Louis & Southern RR. 1st mort..... 44 1886 1,000 400,000 Ler. &Caney Val.RR.1st M.($10,000 p.m.),g.gu.c* 1,000 520,000 80 1886 Verdigris Val. Independence & W. l st M.,g.,guar. 1,000 75 1886 750,000 Missom'i Pacific System-St. Loiiis I1·on. Mt. & So ... Bt, L. IronMt.&So.lstM., extendedat5 p.c.in'92.c 210 1867 1,000 4,000,000 1,000 6,000,000 310 1872 ~~~!sa:ft~i!~~-iat.nioi-t~;iaii<i·gi-·aiit;··oiat 1,000 2,500,000 99 1870 1,000 Cairo Arkansas & Texas lstmortgage,gol3.c''&r 1,450,000 71 1872 Gen. consol. and land gr. M. ($45,000,000), fld 1,272 '8lto'7 1,000 18,683,000 1,000 6,956,000 Do do ~ld, stamped, guaran. p. i.. 1,272 ·-·· Car trusts, series . and E .... ................... 782,500 Kansas & Arkan. Val. 1st M. $20,000 perm., g ... i65 1887 3,400,000 1:C>oo 2,342,500 Little Rock & Ft. Smith 1st M.,land sink.fund .. 165 1875 500 &c. ...... lO•yearcoup.notes (sop., $86,205 ueJuly,1893) 138,110 ---1,000 Little Rock June. lstM., guar. p.&i.byiron Mt.. c* 435,000 2 1891 MolJile & Birmingham.-Stock ........... ..... ....... 100 3,000,000 ---· 1st, ($20.000 per mile) gold, guar .............. c&r i46 1887 1,000 3,000,000 ...... 2d mortgage ........................................ 146 1889 1,500,000 1,000 1,000,000 Mobile & Gimrd-lst mort a e ($200,000 are 6s). c 85 1877 Consol. mortgage for $4, 0 ,000 .................. 122 1891 1,000 590,000 MolJile & Ohio-Stock ($10,000,000 authorized).... . ---100 5,320,600 ---1st M., Mob. to Colum., gold ..................... c* 472 1879 500 &o. 7,000,000 latmort., exten.,Colum. to Cairo & branch,gold.c~ 1,000 1,000,000 55 1883 General mort. for $10,500,000, land grant, s. f .. c 527 1888 500 &c. 8,219,430 595,779 '84-'90 1,000 M!1~~~l~afo~~~<A<i: ·&- ·i,:i~ist ·M: see ·text: (1) ---Morwngahela River-SEE BALTIMORE & OHIO. Montana 0ent1·al-SEE GREAT NORTHERN. ffisKou1·i ---· g,· 55 st: ------- -- -- bonds guaranteed by Missouri Pacific as also the Verdigris Valley Independence & Western. The Booneville St. Louis & Southern RR. (Booneville to Versailles, Mo., 44 miles) is leased at $25,000 per annum. GENERAL FIN.A.NCES.-At the meeting of airectors in New York Septem~er 30, 1891, the October dividend was passed and the stock fell on October 1 to 5434. See V. 53, p. 474. The report for 1891 says that the charges against net earnings of the Missouri Pacific and Iron Mountain companies for the year include $663,431 exl')enses of refunding $7,000,000 of Cairo & Ft1lton first mortgage 7per cent bonds, also a similar expense of $128,650 for extending at 5 per cent $2,573,000 second mortgage 7 per cent bonds of the Pacific Railroad of Missouri. The funding of these bonds resulted in an aggregate reduction in interest annually of $190,000. In addition to the foregoing the sum of $396,000 was paid in cash for purchase of one thousand box cars and $442,353 for construction of new lines during the year, an aggregate of $1,630,434. The floating debt Jan. 1, 1892, consisted of $4,322,917" advances by directors." EARNINGS.-Gross earnings of Mo. Pacific and St. L. I. M. & So. combined for 11 rnontks to Nov. 30 in 1892, $25,190,142, against $23,419,123 in 1891; net, $6,794,942, against $6,584,740. ANNUAL REPORT.-The :fl.seal year ends Dec. 31. Annual meeting is held at St. Louis in March. The annual report of Missouri Pacific tor 1891 was in the CHRONICLE, V. 54, p. 442, 483. The earnings of all lines operated have been as follows: All lines1889. 1890. 1891. Miles operated, average............ 5,019 5,109 5,283 Total earnings ..................... $23,493,467 $25,370,344 $25,918,106 Totalexpenses ..................... 15,532,883 18,002,729 18,495,357 Surplus earnings ............... $7,960,584 $7,367,615 $7,422,749 Ratio op. exp. to gross earn ......•. 66·12 p. c. 70·96 p. c. 71 ·36 p. c. For the Missouri Pacific proper and branches (3,191 miles), not including Irol! Mountain and other auxiliaries, the report was as follows, the item of "taxes, rentals, etc.," in the income account of 1891 being explained in a foot-note. Yea1· ending Dec. 311889. 1890. 1891. MUes operated December 31... .. 3,119 3,145 3,191 Passenger earnings ............... $2,665,354 $2,742,808 $2,663,798 Freight........................ . . . . 8,286,682 9,174,427 8,865,315 Mail, express and miscellaneous.. 1,624,184 1,589,294 1,691,984 Total earnings ................ $12,576,220 $13,506,529 $13,221,097 Total operating expenses......... 8,868,828 10,224,706 9,920,148 • Net earnin$"s ...................... $3,707,392 Dividends, mterest, &c., received. 1,981,790 $3,281,823 2,223,951 Total net income .....•........ $5,689,182 Interest on bonds ................. $2,458,485 Dividends paid*................... 1,758,994 Taxes, rentals, &c................. 793,275 $5,505,774 $2,598,143 1,823,498 588,187 $3,300,949 634,054 ---$3,935,003 $2,776,580 1,422,859 tl,824,796 Total disbursements .......... $5,010,754 $5,009,828 $6,024,235 Balance for year .................. +$678,428 +$495,946 -$2,089,232 * Paid 4 per cent in 1889 and 1890 and 3 per cent in 1891. t This item is made up as follows: Interest and exchange, $194,231; discount and premium, $767,003; extending second mortgage bonds, $128,650; taxes, $567,456; Western Association expenses, $27,773; rentals, $139,682; total, $1,824,795. -(V. 52, p. 425, 534, 761; V. 53, p. 474; V. 54, p. 78, 442, 483.) 1'Iissouri Pacific Systein-St. Louis Iron lliountain & Southern.-Owns St. Louis to Texarkana, Texas Line, 490 miles; branches to Belmont, Mo., Bird's Point, Mo. (Cairo), Camden, Ark., Helena, Ark., Cushman, Ark., Arkansas City, Ark., Warren, Ark., Memphis, Tenn., &c., 714 miles; total owned January 1, 1892, 1,204 miles. Leases Little Rock & Fort Smith and Little Rock Junction railroa,ds1 172 miles; Kansas & Arkansas Valley .RR., t 70 miles. Total operareo January 1, 1892, 1,547 miles. The Camden & Alexandria, 32 miles, was acquired in May, 1892, and extended 33 miles to Eldorado. STOCK.-The stock ($25,784,200) is nearly aJl held by the Missouri Pacific Railway, most of it having been retired in May, 1881, by the issue of three shares of Missouri Pacific stock for four of Iron Mountain. LANDs.-The sales of land in Arkansas for 1891 were 59,361 acres at $2·83 per acre, the total sales including town lots being $168,240; 1n Missouri as 5,736 acres for $2·79 per acre, the total sales including town lots being $16,004; from Little Rock & Fort Smith Railroad grant 14.520 acres for $3·14 per acre. Lands in Arkansas uneold December 31, 1891, 678,265 acres; 1n Missouri, 86,761 acres; of Little Rook & Fort Smith Railroad, 523,168 acres. BONDS.-The general consolidated mortgage is for $45,000,000, bonds being reserved to retire all prior issues, these ooverin~ only 485 miles. The mortgage is a first lien on the 787 miles in Arkansas and on all un• sold lands, amounting to 765,026 acres on J anua.ry 1, 1892. Trustee of mortgage, Mercantile Trust Company of New York. As indicated in the tabfe above, part of the general mort~age 5s are endorsed with the Missouri Pacific's guaranty of principal and mterest. January 1, 1892, there were still $159,500 old incomes of various issues outstanding. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 g. M. & S. N. Y., Mercantile Tr. Co. do do ~ g. F. & A. F. & A. N. Y., Am. Ex. Bank. 5 g. J. & J. N.Y., Mercantile Tr. Co. 5 g. M.& s. do do Jan. Aug. Aug. July Feb. 1, 1, 1, 1, 1, 1917 1920 1911 1926 1926 F. & A. N.Y. MercantileTst Co. May 1, 1897 M.&N. New York or London. May 1, 1897 J. & D. N. Y., Mercantile Tr. Co. June 1, 1895 J. & D. do do June 1, 189'7 A. & 0. do Apr. 1, 1931 do A. & O. do do Apr. 1, 1931 do do ~uar'ly. Jan~. .i937 . & J. do do J. & J. do do Jan. 1, 1905 J. & J. Boston, E. Atkins & Co. J'ly'93-Jan '94 A. & 0. N.Y., Mercantile Tr. Co. Apr. 1, 191c .&.. ---J. Jan.,'~)2,-coup.°ii.ist paid. Jan:. i:," "i937 5 g. J. 5 June, 1939 4&6 J. ·&·n. N. Y. Seciuity&.Tr. Co . June 1, 189'7 J. & D. 5 . - .. ---- . ---- . -------· ---6 g. J. ·&·n. N. Y.,-Farn:i:t~ ·&·Tr. Co. Dee:. "i927 do do July 1, 1927 g. Q.-Jan. M.& S. N. Y., Gallatin Nat. Bk. Sept. 1, 1938 Vario's. New York City. 6 Var., '94-1899 ..... . ............. 4 .......... 5 7 g. 7 g. 7 g. 5 g. 5 g. ..5.g. 7 7 6 i"; 1; i "Advances by directors" January 1, 1892, $680,390-sundry accounts payable. $1,033,744. The $4,000,000 first mortgage bonds maturing August 1, 1892, wereextended at 5 per cent per annum until May 1, 1897. V. 55, p. 100. The Little Rock & Fort Smith Road was absorbed by an exchange of its stock in 1887 (4 shares for 3 of St. Louis & Iron Mountain.) See titleof that company in SUPPLEllIBNT of May, 1888, and previously. ANNUAL REPORT.-Report for 1891 (V. 54, p. 442) sho wed as follow s: the item of "taxes, bridge expenses, etc.," being explained in a footnote, Year eruling Dec. 311889. 1890. 1891. Miles operated.................... 1,208 1,550 1,547 Gross earnings .................... ~8,964, 795 $10,859,173 $11,581,034 Net earnings ...................... $3,773,355 $3,889,487 $3,877,034 Other receipts..................... 288,529 27,356 20,413. Total net income .............. $4,061,884 Interest on bonds ................. $2,407,626 'Taxes, bridge expenses, &c....... 383,144 Dividends ...... ...... .... .. .... .. 1,030,248 $3,916,843 $2,414,506 798,979 773,294 $3,897,447 $2,271,471 *1,586,229 ....... . ' Total disbursements .......... $3,821,018 $3,986,779 $3,857,700 Balance for year ................ sur. $240,866 def. $69,936 sur. $39,747 * This item includes: Discount and premium $662,695; interest on Kansas & Arkansas, etc., bonds, $395,310; taxes, $245,524; bridge improvements, $254,894; traffic association, etc, $27,K04. -(V. 53, p. 474; V. 54, p. 4'12, 762; V. 5;j, p. 100, 551.) Mobile & Blrinin~hain.-(See Map East Tennessee Virginia cf:Georgia.)-Mobile to Marion Junction. Ala., on the East TeRilessee Virginia & Georgia Road, about 147 miles; trackage to Mobile and Selma, 17 miles; opened in July, 1888. Abstract of mort~age V. 45, p. 27 4. East Tennessee Virginia & Georgia owns a majoril;y of the stock and guarantees principal and mterest of first mortga~e. In June, 1892, theEast Tennessee having gone into receiver's hanas, Mr. T. C. Bush, was appointed receiver. Coupons due July 1, 1892, were not paid. See V. 55, p. 21, 59. Stock, $3,000,000 (par, $100). In year ending June 30,. 1892, gross receipts, $274,664, against $286,714 m 1890-91, falling off being due to depression throughout the South. In 1889-90 net, $61,199; interest, $150,000; taxes, $11,562; deficit, $100,362, against $136,550 for 1888-89. Total deficit to Jane 30, 1890, $236,912. (V. 51, p 612; v. 55, p. 21, 59.) lliobile & Girard.-Owns from Columbuei. Ga., to Searight, Ala., 122 miles. A receiver was appointed on Nov. 11, 1892. See Central of Georgia respecting proposed reorganization and consolidation. LEASE.-From June 1, 1886, leased to Central of Georgia (which July 1, 1892, owned $816,200 stock) for 99 years, with a guaranty of 112 percent poc annum on $173,400 stock. STOCK.-Common stock, $1,251,208; preferred stock, $11,344, and $2,530 Pike County stock; par, $100. BoNDS.-The:fl.rst mortgage bonds, of which $200,000 are 6s and $800,000 4s, are guaranteed, principal and interest. Consols. at $12,600 per mile for extensions were authorized, the total issue not to exceed $4,000,000. The Central of Georgia owns the $590,000 consols. EARNINGS.-In 1890-91 gross earningB, $205,145; net, $4,815. In 1889-90 gross, $274,082; net, $68,017, against $93,564 in 1888-89. Payments due by lessee in year 1892-93: Interest, $74,300; rentr-. !t;l9,146; total, $93,446. See earnings for portion of 1892 unde Central of Georgia. Mobile & Oh.lo.-(See.Map.)-Owns from Mobile, Ala., to Columllus, Ky., 472 miles, proprietary line, Kentucky & Tennessee Railroad to Cairo, 21 miles; also branches to Starkville, &c., 34 miles; total owned, 527 miles; leases St. Louis & Cairo Railroad, Cairo to St. Louis, 152 miles, and track to l\Iillstadt, 9 miles; total operated, 687 miles. HISTORY, ETc.-Uhartered in 1848, main line opened in 1861, reorganized in 1879 without foreclosure. ln 1886 the St. Louis & CairoRailroad (161 miles) wa,. leased for 45 yeara. See that company. As to the talked-of extension to Montgomery see V. 55, p. 765. LANDS.-Lands June 30, 1892, were 614,584 acres, valued at $318,842 ST0CK.-Stock authorized, $10,000,000; outstandin~, $5,320,600; par, $100. The a sented stockholders claim that the nolders of old debentures, havin~ accepted mortgage bonds for their holdings (except $63,900 whicn they offer to pay oft), should no longer control the company by the votin~ trust. The question at issue is one of law and decision is pending. ,:;ee V. 54, p. 329, 683, 762, 800, 1035. BONDS. -Ln 1888 the 4 per cent mortgage for $10,500,000 (trustee Farmers' Loan & Trust Company,) was issued to pay floating debt, retire debentures, &o. Until September 1, 1891, interest was payable in scrip. There can be no foreclosure under this mortgage till tour coupons are 1n default. Of the total amount ($10,500,000) authorized under this mortgage, there have been canceled by operation of the sinking fund $648,500, there are held to exchange for debentures not exchanged $40,570, and the company holds in reserve in its treasury $1,899,500. In fl.seal year 1891-92 $175,000 general mortgage bonds were sold and $119,000 canceled. See mortgage abstract, v. 47, p. 83. PRICE OF STOCK.-ln 1891, 26'@4:5; in 1892, 33'@4214; in 1893, to January 20, inclusive, 351.z>35 7s. EARNINGS.-From Jan. 1 to Dec. 31, 1892, (12 months) gross earnings. (partly estimated) were $3,328,930, against $3,506 233 in 1891. JANU.&.RY, 1898,] MAP OF THE 0 MOBILE & OHIO RAILROAD AND ITS CO.r NECTIONS. I A I i (1\ ~ ~; •i :Xa.;1 n-ille ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis R INVESTORS' SUPPLEMENT. fVOL. LVI. Subscribers will conCer a great Cavor by giving lmm.edlate notice oC any error discovered In these Tables. Bonds-PrinotRAILRO_A DS. INTEREST OR DIVIDENDS. Miles Date Size,or Due. Amount Rate per When Where Payable, and by pal,When Par For explanation of column headings, &c., see notes of of Stocks-La.at on first page of tables. Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. Monterey cl Mex. Gulf-1st. M. $25,000 perm., g. c* Montgom cl E~aula-lst, s. f., $15,000 not dr'n .. c* Mont. Tusc. cl em.-lst M., $18,000 per m.,gold.c* Morgan's La. & Tex.-lstM. (N. 0. toMorganCity)c* 1st mortgage, Alexandria Extension, gold ........ N. O. Opel. & Gt. West. bds. ex. in'89 (assumed). Morris <f: Essex-Stock, 7 p. c. guar. D. L. & W ...... 1st mort%age, sinking fund ........................ Converti le bonds .................................. Gen. M. & 1st on Boonton Br. &c. (~ar. D.L.&W.) Consol. M. (for $25,000,000) guar. . L. & W.c*&r ~eoial real estate bonds ................ .. ........ orris & Essex Extension stock, guar. 4 per cent. Morristown& Oum. Gap-lstM.,$25,000p.m., gld.c* Nashua & Lowell-Stock,9 p.c. rental,92 yrs . .B.&M. Bonds not mortgage, gold .......................... Do do gold .......................... Nashville Ohattanooga & St. Louis-Stock ...... -· ... 1st mortgage (for $6,800,000) ................ c*&r 2d mortg~e, gold or silver .................... c*&r 1st M. on ayette. and McM.brs. ($6,000 p.m.)c*&r 1st mortgage on Lebanon Branch ............... c* 1st M. on .Jasper Br. ($90,000 are 8s, due 1906)c* lat mortgage on Centreville Branch, fold .... o*&r lat M. on Tracy City Br. (Tenn. C. & . RR.) .c*&r lstM. onBonAirBr.,red. at par aft. .Tuly'97, ... c+ Consol. M. ($20,000,000), $20,000 p. m., gold ... c" Duck River RR. 1st M. $6,000 p. m., assumed.c* 2dmort~ge, assumed . ............... ......... c* Nashville cl ecatm·-Stock, guar. 6 c. by L. & N. lat mort., guar., s. f. ($200,000 he din sink. fd.). Nash. Flor. cl Sheff.-lst M. ($2,500,000), gold, gu.c Nash'Oille & Knoxirille-lst mort. for $2,000,000 .. c* /t 389 81 -··· 102 157 80 ·si -·-· .... 137 ---·2 40 15 ---------· 340 321 125 29 43 46 20 7 710 48 48 119 119 91 73 --- 1888 $1,000 $9,727,000 ~ g. 1879 1,000 1,500,000 1889 1,000 6 g. 864,000 1878 1,000 5,000,000 7 1880 1,000 1,494,000 6 g. 249,002 1859 5 ··50 15,000,000 7 per an. ..... 1864 500 &c. 5,000,000 7 Var'us 1,000 281,000 7 1871 1,000 4,991,000 7 1875 1,000 12,151,000 7 Var'us 2,795,000 412& 5 ·ioo 221,000 4 per an. 1,000 1,000,000 6 g. 1891 ..... 100 800,000 9 per an. ..... 200,000 6 g. 1873 100,000 5 g. 1880 100 10,000,000 5 per an. ---- 1,000 6,300,000 1873 7 1,000 1,000,000 1881 6 1,000 1877 750,000 6 1,000 1877 300,000 6 461,000 6 g. & 8 '77-'83 1,000 1,000 376,000 6 g. 1883 1,000 560,000 6 1887 1,000 130,000 1887 6 1,000 4,447,000 1888 1876 500 &c. 86,000 6&5H" 1,000 24,000 6 g. 1881 25 2,265,582 6 per an. 7 i870 1,000 2,100,000 1,000 2,096,000 5 g. 1887 1,000 1,170,000 1888 6 ---- ---- .ANNUAL REPORT.-Fiscal year ends June 30. Report for year 1891-921 June partly estimated, in V. 55, p. 764, showed a smaller falling off than might reasonably have been expected in view of the hard times which have prevailed in the South, and the damage from severe and unprecedented floods-see V. 55, p. 233. . 1888-89. 1889-90. 1890-91. 1891-92. Total gross earrungs. $2,881,473 $3,173,431 $3,559,138 $3,443,760 Net earnings......... $934,780 $1,070,918 $1,215,712 $1,086,293 Interest and rentals. 709,901 954,329 1,058,264 1,044,131 , Surplus. •· •. •·. .. . . . $224,879 $116,589 $157,4~8 $42,162 There should be added to the $42,162 surplus as above m 1891-92 the balance on hand June 30, 1891, $17,415, and proceeds of bonds and stock sold, making $206,487; expended for new equipment and additions to property, $218,070; balance, deficit, $11,583. -(V. 53, p. 185, 584, 601; v. 54, p. 78, 266, 276, 329, 683, 762, 800; v. 55, p. 233, 253, 764, 1035.) Mohawk & lJialone.-Owns from Herkimer, N. Y., on the N. Y Central's main line northerly to Malone, on the Central Vermont, 178· miles. Completed in November, 1892. Name formerly Adirondack & St. Lawrence. Furnishes access to heart of Adirondacks and forms link in a new through line from New York City to Montreal. Built by Dr. Seward Webb, of N. Y. Central. In December, 1892, only a few 1st mortgage 4s were outstanding, and these were guaranteed by the Central. Bee V. 55, p. 255. 1'.lontere}" & Mexican GnlC,-Owns road completed tn August, 1891, from Venadito (on the Mexican International Railroad) via Monterey to Tampico, on the Gulf, about 390 miles. See V. 54, p. 964. On April 23, 1892, the company being embarrassed, J. Robertson, formerly General Manager, was appointed receiver in Mexico. (Bee V. 54, p. 643; V. 55, p. 765.) The Central Trust Company of New York is trustee of the mortgage. Mexico gives this road a subsidy of $14,222 per mile in 6 per cent silver bonds. Stock $100,000. From January 1 to Apr. 30, 1892 (4 months) gross earnings were $297,661, against $293,593 in 1891. In 1891 gross earnings were $883,462. Tn 1890 on 242 miles gross earnmgs were $420,867; net, $284,018. General Trevino, President, Mexico ; T. S. Bullock, VicePresidentL40 Wall Street, New York. (V. 53, p. 126,289,475,485; V. 54, p. M3. 964; V. 55, p. 765.) Montgomery & EuCaula.-Owns Montgomery to Eufaula, Ala., 80 miles. · Foreclosed May 1, 1879, and re-organized. Operated under contract by Central of Georgia, which guarantees the principal and Interest of the bonds. Stock ls $620,000, all owned by Central Railroad of Georgia. In year ending June 30. 1891, gross earnings, $307,613; net, $58,553; interest and sinking fund, $105,000. In 1889·90 gross, $364,169; net, $128,731. See earnings and reorganization plan under Central of Georgia. Interest due .Tan. 1, 1893, went to default. Montgomery Tuscaloosa & 1'Iemphl8,-Projected from Montgomery, Ala., on the Alabama Midland, to Columbus, Miss., 175 miles. In May, 1892, graded nearly to Tuscaloosa, Ala., about 100 miles. As to talked-of arrangement with Mobile & Ohio, see V. 55, p. 765. Stock authorized-common, $1,150,000; pref., $1,150,000; par, $100. Morgan's Louisiana & Texas Ka1Jroad & Steamship Company,-( See MUJ!. of Southern Pacijic.)-ROAD-Owns from New Orfeans to Cheneyville, 204 miles; branches, 55 miles; trackage Cheneyville to Alexandria, 24 miles; total, 283 miles. ORGANIZATION.-The Southern Pacific Company, on .Tan. 1, 1892, held $14,994,000 of the $15,000,000 stock and operated road under lease. The lessee pays all charges and also 23 per cent of the net profits under the "omnibus lease." Company has 18 iron steamships, of which 13 were owned, plying between New York and New Orleans and between Gulf ports; also wharves, warehouses, ana on Jan. 1, 1892, owned $3,880,000 stock of the Houston & Texas Central "&ail way Company, &c. From January 1 to Nov. 30, 1892 (11 months), gross earnings were $4,fl90,997, against $5,082,909 in 1891; net, $1,076,670, against $1,268,690. For year 1891, gross, $5,683,432; net, $1,525,530; surplus over charges, $753,612; net profits due company under lease to Southern Pacific, $556,441, against $565,799 in 1890. Morris & Essex.-(See Map o[ Delaware Lackawana <I Western.)Owns. from Hoboken, N: .r., to Phillipsburg, N . .r., 85 miles; branch, Denville, N . .-i:., via Morris & Essex Tunnel,.to Hoboken, N . .r., 35 miles; leases 16 miles; total operated, 136 miles. In 1868 leased in per petuity .to ~~e. Delaware ~ackawana & Western RR., the lessees assuming all liabilities and paying 7 per cent per annum on the capital stock. They also agree to pay 8 per cent in case 10 per cent is earned on the stock in any one year. Lessee July 1, 1891, held $500,000 stock. The Morris & Essex is important to the Delaware Lackawanna & Western as a r!)ute with terminal facilities on New York Harbor, but the actual earrungs on the road show a large annual deficit for the lessee company after the payment of rental. The loss to lessee was in 1880, $1,012,416; in 1881, $985,890; in 1882, $941,550; Inl883, $1,104,218; in 1884, about $1,100,000; in 1885 and 1886, about $900,000. In 1891, O'ross earninO's of road proper (119 miles) were $5,551,390; net, $1,789,277. (V. 5l p. 280,350; V. 53, p. 370, Nashua & Lowell.-Owns from Lowell, Mass., to Nashua, N. H., 15 miles. On October 1, 1880, a lease for 99 years to the Boston & Lowell was made. In 1887 lease was transferred to Boston & Maine Railroad Company, which pays a rental of $73,000 (9 percent on stock). https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - M.&N. Nov.,'91,coup. last paid. Nov. 1, 1938.r. & .r. .Tuly,'92, coup. last paid .July 1, 1909 .r. .& .r. .Tuly,'91, coup last paid. .July 1, 1929· A. & 0. N.Y.,S.Pac.Co.,23Broad Apr. 1, 1918 .r. & .r. do do .July 1, 1920 A. & 0. do Apr. 1, 1899 do .r. & .r. N. Y., Del. Lack. & West. Jan. 2, 1893: M.&N. May 1, 1914 do do .r. & .r. do do Jan. 1, 1900 A. & 0. do do Oct. 1, 1901 .Tune 1, 1915 .r. & D. do do Various. do do M:·&· N. do do Nov., 1892 .r. & .r. .Tan. 1, 1921 M.&N. Nashua~ '2d Nat. Bank. Nov. 1, 1892: F. & A. do do Aug. 1, 1893 .r. & J. do do .July 1, 1900 Q.-F. New York & Nashville. Feb. 1, 1893: .r. & J. N. Y .. ContinentalN. Bk. July 1, 1913 do .Tan. 1, 1901 rlo J. & .r. do Jan. 1, 1917 .r. & J, do do Oct. 1, 1917 .r. & .r . <lo .r. & J. do Jan.,1906&'23 '10 J. & J. tlo do Jan. 1, 1923 .r. & J. .Tan.1894 to'l 7 do •lo do July 1, 1917 J. & J. •lo A. & 0. do do Apr. 1, 1928 J. & .r. do do .Tan. 1, 1896 M.&N. do Nov. 1, 1909' do J. & D. Nashville. Dec. 6, 1892 .r. & .r. N. Y., 120 Broadway. July 1, 1900 F. & A. N. Y. and Louisville. Aug. 1, 1937 M. & N. N. Y., Mercantile Tr. Co. 1918 0 0 The funded debt of $34)0,000, principal and interest, is assumed by the lessee, and the lessor holds the lessee's notes for the same amount-$300,000. (V. 45, p. 143.) Nashville Chattanooaa & st. Louls.-(See Map.)-Owns from Chattanooga, Tenn., to Hicirnian, Ky., 320 miles; branches to Lebanon. &c., 352 miles; leases Western & Atlantic, Chattanooga, Tenn., to Atlanta, Ga., 138 miles; total operated .rune 30, 1892, 810 miles. In November, 189'l, be!!an operating also the Tennessee & Coosa RR.,. Wyeth City to Gadsden, 37 miles. A connecting link of about 48 miles between Huntsville on N. C. & St. L. and Wyeth City is under construction. The Western & Atlantic is leased for 29 years from December27 1890 at $420 012 per annum ' ' .' . · . _STOCK.-A J'!13iJOI'lty of the stock _($5,0'!7,500) 1s owned by the LouisV1lle & NashVJµe, and pledged for its ll."!1ifted mortga~e, etc. D~VIDENDS ~lllC~ 1880-In ~881, 3; m 1!382, 112; m 1~83 and 1884,. 2; m 18~5. nil; ill 1886, 1; ill_1887, 4; m 1888, 4 14; m 1889, 5; iD 1890, 5; ill 1891, 5; in 1892, 5; ill 1893, Feb., 114 per cent. BONDS.-The Tracy City branch 6s fall due $20,000 yearly on .Tan. 1, 1893, to 1916 inclusive, and $100,000 on .Tan. 1, 1917. Of the consolidated mortgage of 1888 (United States Trust Co., trustee), $10,807,000 bonds were reserved to retire all prior bonds. GENERAL FINANCES.-In May, 1892, $500,000 additional first con• solidated mortgage 5 per cent gold bonds were issued to acquire new road, etc, making the total amount listed $3,847,000, and in June $300,000 more to acquire the Tenn. & Coosa RR., 37 miles in operation, and in December $300,000 on extension thereof, etc. Bills payable were $1,546,844 on July 1, 1892, against $2,164,13$ July 1 1891. As offsets were held $1,057,000 Louisville & Nashvill& unified 4s, etc. See full statement in CHRONICLE of Sept. 24, 1892. LATEST EABNINGS.-From July 1 to Dec. 31, 1892 (6 months), gross $2,674,424, against $2,871,127; net, $1,059,528, against $1,130,380; interest, rentals, etc., $734,774, against $777,969; balance, surplus, $324, 754., against $352,411. .ANNUAL REPORT.-Fiscal year ends June 30. The report for 1891-92 was given at much length in CHRONICLE V. 55, p. 502, 504, the Western & Atlantic beinc, included for the first time in 1891·92. Year ends June 38. 1888-89. 1889-90. 1890-91. 1891-92. Mileage end of year...... 652 652 652 810 Grossearnings ...•........ $3,300,165 $3,550,460 $3,943,304 $5,353,288 Net income ............... 1,348,721 1,430,414 1,657,063 2,060,893 Interestondebtandtaxes $869,696 $873,388 $914,799 $950,515 Rental W. & A. RR....... .... ... . .... 420,012 Dividends ................ (5)333,426 (5)333,427 (5)333,427 (5)500,000 Improvements............ 60,903 85,881 142,617 118,111 Totaldisbursements .. $1,264,025 $1,292,696 $1,390,843 $1,988,689 Balance, surplus.......... $84,696 $137,718 $266,2~0 $72,253 -(V. 52, p. 40, 832, 899; V. 53, p. 21, 95, 406; V. 55, p. 22, 502, 504.) Nashville & Decatur.-(See Map Louisville <t Nash-oille.)-Own& from Nashville, Tenn., to Decatur, Ala., 119 miles. The road was leased May 4, 1871, to the Louisville & Nashville Railroad for 30 years from July 1, 1872, at a rental of 6 per cent per annum on the stock. The lessee assumed all the debt and owns $823,300 of its stock. In 1890-91 gross earnings, $1,491,782; net, $566,897. Nashville Florence & Sheffleld.-(See Map Louisville <I Nashville.)-Owns from Columbia, Tenn., to Florence, Ala., 79 miles, with branch Iron City, Tenn., to Pinckney, Tenn., 12 miles, and has trackage, Florence to Sheffield (Memphis & Charleston Railroad), 3 miles; operates Napier branch, 11 miles ; total, 105 miles. Operated by Louisville & Nashville, which company guarantees the principal and interest of the bonds by endorsement, and owns $729,400 of the stock, par $100. In 1890-91 gross earnings were $230,058; net, $31,193; taxes, $6,201; interest, etc., $101,009; deficit, $76,018. (V. 53, p. 793.) Nashville & Knoxville.-Owns from Lebanon to 6 miles beyond Cookville, 65 miles, and branch to Carthage, Tenn., 8 miles. Extension under construction. Stock, authorized, $500,000; outstanding, $373,450; par, $100. Trustee of mortgage, Mercantile Trust Co. of New York. In year ending .T1ille 30, 1892, gross earnings were $71,890; net~ $23,330; mterest on bonds, $54,900. Nauaatnck.-Owns from Naugatuck Junction, to Winsted, Conn. 5612 iiil'ies; leased, Watertown & Waterbury Railroad, 412 miles; totaf operated, 61 miles. Leased for 99 years from April 1, 1887, to New York New Haven & Hartford at $206,000 per year, earnin!?B being in• eluded in those of the lessee. In .January and February, 1'893, stockholders have right to exchange their stock for an equal amount of thelessee's stock-which see. Nesquehoning Valley,-Owns from Nesquehoning.Junction, Pa., to Tamenend, Pa., 17miles; Tunnel Branch, Hauto, Pa., to Lansford,Pa.,. 1 mile; total operated, 18 miles. Leased for 999 years to the.Lehigh Coal & Navigation Company. In 1884 the option to purchase the stock at par aud interest was suspended for 20 years, with a guarantee ot 5 per cent per annum on stock. Nevada Central.-Battle Mountain to Austin, 94 miles (3-rt. guage.) Stock, $790,000; par, $100. R@ad sold in foreclosure .Tune 21, 1887. Above bonds were issued in exchange for $750,000 old firsts. For yearendin~ .Tune 30, 1892, gross, $39,089; deficit under operating expenses. $10,8ts7. Gross earnings in 1890-91, $33,485; deficit under operatinit exvenses, $3,763. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE c. NASHVILLE, CHATTANOOGA ~ ST.LOUIS RAILWAY 94 INVESTORS' SUPPLEMENT. [VOL, LVI. Subscribers ·will conCer a great f'avor by giving inunediate notice of' any error discovered in tllese Tables. Bonds-PrmotINTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or pal, When Due.,. Amount Rate f.er When Where of Par For explanation of column headings, &c., see notes of Payable, and by Stocks-Last Outstanding Cen . Payable Road. Bonds Value. Whom. on first page of tables. Dividend. Ni~f':!i~~i!~~~-~ ~--~--~~~:~~ ~~ -~~:,~?-~:~:~:1:1; Nesquehoning Val.-Stock, 5 p.c. gu. till 1904 ....... ..... 55 18 94 6 44 Nevada OentraL--lst M. g., income (sinking fund) .. Newm·k & Hudson-1st mortga~e .................. c Newark Somerset & Straitsv.-ls M.,ext.in '89, g.c* Newb1wg Dutchess & Oonnectic1tt-Income bonds .. r ---15 New Oastle & Beave1· Valley-Stock .................. New Haven & Derby-See NEW YORK NEW HA VEN & HA N. Hav.& N01·thamp.-St"k, gu. 99 y,rs.N.Y.N.H.&H. ..... 1st morts-age ..................................... c* Consol. sink. fund $15,000 per year not drawn.c* Northern Extension bonds ....................... c* Bonds (not mortgage) convertible into stock ... c* Holy. & W., leased, 1st & 2d M. ($200,000 gu.) .c* New Je1·sey Jimction-lst. M., guar. byN.Y.Cent.c&r New Je1·sey & New York-1st M. (reorganization).c* 2d mortgage ....................................... r N. J". & N.Y. Extension 1st M., int. guar .......... New LondonN01·thern--Stock ........................ Consolidated M., now 1st M. ($688,000 are 4s) .c* Newport News cf; Mississippi Valley-Stock .......... New Orleans & NorthEasten11--Priorlienm., gold.c* N:J;z!;:f~~-!h·wes·iin,:..:_i·ai1'i.·,ijiio;oooi>·.m::i:,c*&r New Ot·l. & So.-Pri08!!1enl\I. ($250,000) g. ,red. at 105 1st mort. for $1,000,000, income for five years ... N. Y.Brooklyn&Man.Beachr-N. Y. &M.B. lstM .. c* N. Y. B. & M. B. 1st con. M., gold, guar. by L. 1.c* New York& Oanada-lstM.ster.,guar.D.&H.,Can.c· New Yo1·k Oent1·al & Hudson River-Stock .......... Debt certificates (N. Y. Central), gold, ext. in '93 . 92 114 27 --·· 17 5 34 34 ..... 121 121 ..... 196 196 77 66 66 14 20 150 .... .... --$100 ·--1883 1,000&c 50 ---1,000 1888 1871 1869 1877 . ..... RTFOR $2,000,000 lOperan. J". & J". 4 J". & D. 150,000 1,418,600 5 per an. M.& 8. 5 g. J". & J". 750,000 1,000 M.& s. 250,000 7 500 &c. 800,000 5 g. M.&N. ..... 1,164,500 6 50 700,000 See text. Q:..:.:j_ .... ·-·- issi5 J"an., 1893 J"une 1, 1913' Sept. 1, 1892: J"uly 2, 1938 Sept. 1, 1901 Nov. 1, 1929J"une 1, 1977 J"an., 1893 New Haven. N.Hav.,N.Tradesm'sBk. do do do do N. Y. Cent. & Hud. Riv. N. Y., Mercantile Tr. Co. do do J"an., 1893 J"an., 1899 Apr. 1, 1909 Apr. 1, 1911 J"uly 1, 1896 Apr.'98&1911 Feb. 1, 1986 Ma,y 1, 1910 J"an. 1, 1986 D. 100 . .... 1,000 1869 1,000 1879 1,881 1,000 1,000 1886 1,000 1870 1,000 1886 1880 500 &c. 1885 500 &c. 1880 New Haven, ct., Treas. do do Phila., 226 So. Third St. No coupons paid. N.Y., L. E. & West. RR. N. Y., Union Trust Co. When earned. Newcastle, Pa. ·ioo 1,000 100 1,000 2,460,000 See text. A. & 0. 1,300,000 J". & J". 7 1,200,000 A. & 0. 6 700,000 A. & 0. 5 700,000 J". & J". 5 260,000 4&6 A. & 0. F. & A. 1,700,000 4 M.&N. 400,000 6 100,000 J". & J". 5 120,000 ...... ----1,500,000 8 per an. Q.-J". 1,500,000 4&5 J". & J". 13,679,000 ..6.g. A:°i,r,' .0. 1,120,000 5,000,000 J". & J". 6 See text. 5 g. J". & J". 200,000 g. A. & 0. ..... 1881 1,000 1890 1,000 1891 (1) 1891 500,000 1877 500.&c. 7 1,000 1885 883,000 5 g. 1874 .£100&•1 4,000,000 6 g. 100 89,428,300 See text. i853 500 &o. 6,450,000 4 g. g (1) J". & J". A. & 0. M.& N. Q.-J". M.&N. London: .......... New Office . J"an., 1893 N. Y., Bk. of No. Amer. J"uly 1, 1910 N. Y., Centra.i"Ti-ust Co. Nov:1,..i915 N.Y.,Miiller,Schall&Co. J"an., 1911 J"an. 1, 1940 In default. New York Agency. Oct.,1931 1931 N. Y., Corbin Bank'g Co. J"an. 1, 1897 do do Oct. 1, 1935 London, Barinf Bros . May 1, 1904 N. Y., G.r. Cent' Depot. J"an. 15,1893 May 1, 1905 do do New-ark. & Hudson.-Owns from Bergen J"unction to Newark, N.11891. In year ending J"une 30, 1892, gross earnings were $1,290,626; J., 6 miles. Leased to New York Lake Erie & Western at a rental of I net, $273,443; intere t (less credits, $3,404), $363,796; balance, $17,500 per annum. Erie pays interest on bonds and includeR earnin~s deficit, $90,353. In 1890-91 $1,138,529; net, $264,540. (V. 53, p. 289; in its own statements. Stock, $250,000; par, $100. In year ending V. 55, p. 543.) Sept. 30, 1891, gross earnings, $84,327; net, $6,850; deficit under Ne-w- Orleans & Nortll~estern.-Owns from Natchez, Miss., interest, $10,650. Cortlandt Parker. President, Newark, N. J". to Rayville, La., 77 miles. Projected to Little Rock, Ark. Stock, New-ark. Somerset & Straitsville-Owns from Newark, 0., to paid in, $4,500,000, par $100. Bonds for $1,500,000 are hypothecated Shawnee, 0., 44 miles; branch 3 miles. Leased to B. & O. till Nov.1.1929 for loans. In August, 1891, receivers were ap,1>ointed and $500,000 (with right to perpetual renewal at B. & O's option) at 30 per cent of receivers' certificates were authorized for repairs, etc. ole receiver gross earnings and a minimum rental of $40,000 (interest on debt), is now L. K. Hyde of Titusville, Pa. It is said the receiver will com8tock, common $795,600, and preferred, $230,900 (par both, $50). plete the road from Rayville to Collins on the Mo. Pac .• receiver's cer$705,550 of the first and $191,850 of the latter being owned by the tificates having been authorized therefor. In year 1891-92 gross earnBaltimore & Ohio. Floating debt J"uly 1, 1891, $653,203. In 1891-92 ings, $47,538; net over expenses and taxes, $11,044. W. D. J"enkins, gross earnings, $149,978; deficit under operating expenses, $10,627, General Manager, Natchez, Miss. against net in 1891 of $2,116. Ne,v Orleans & Soutlle1·n.-NewOrleans i.onth along the MissisNew-bu1·g Dutchess & Connecticut.-Owns from Dutchess sippi River to Bohemia, with a branch, 66 miles in all. Successor the J"unction, N. Y., to Millerton, N. Y., 59 milee. Reorganized after New Orleans & Gulf. sold in foreclosure ~larch 5, 1891. See V. to 52 p. foreclosure in J"anuary, 1877. In addition to above incomes 391; V. 53, p. 156. Stock, $200,000; par $100. there are $150,000 1st mortgage 7s, due in 1907, $45,000 of 5 per From .January 1 to Nov. 30, 1892 (11 months), gross earnings were cent morts;age notes due $10,000 yearly, J"an. 1, 1894, to 1897, and $127,521, against $154,140 in 1891; deficit, $306, against net of $10,000 bills payable. In year ending J"une 30, 1892, gro s earningA $3,875. _In 1891 gro. s earnings $173,415; net, $8,059, against were $173,505, against $175,909 in 1890-91 net, $41,128; surplus $17,432 m 1890. (V. 51, p. 494; were V. 52, p. 391; V. 53, p. 156.) over charges, $17,597, against $8,964- in 1890-91. The common stock is $500,000 and preferred stock $587,450; par $50. J"ohn S. Neurport Ne-w-s & lliississippi Valley.-ORGANIZATION.-In. Schultze, President, 59 WallStreet,N. Y. (V. 53,p. 603; V.55, p. 371.) corporated under the laws of Connecticut and operates under lease the Chesapeake Ohio & Southwestern RR., Louisville, Ky., to Memphis, New- Castle & Beaver Valley.-Owns from Homewood, Pa., to The C. 0. New Castle, Pa., 15 miles. Lea ed to Pitttsblll•o- Fort Wayne & Chicago Tenn., and branch, 398 miles; subsidiary lines, 16 miles. & S. W. controls the Ohio Valley, Hopkin Yille, via Princeton, to EvansRailroad for 99 years at a rent.al of 40 per ceni of ~ro earnings, and lease assumed by Pennsylvania Company. Dividends since 1 83 Yille, &c., 160 miles, and the Owensboro Falls of Rough & Green River have been-in 1884, 19 per cent; in 18 5, 10 per cent; in 1886 and RR., 42 miles. See Che . 0. & S. W. 1887, 6 per cent each; in 1888 and 1889, 10 per cent each; in 1 90, 11; SECURITIE , ETC.-J"uly 1, 1892, company owned $5,608,700 Chesain 1891, 3012; in 1892, 6; in 1893, J"an., 112 p. c. quarterly. Gros earn- peake Ohio &Southwestern common and $3,511,600 preferred tock, and ings in 1891, $169,066; net, $59,297; rental received $67,626, against there was due from Ches. Ohio & S. W., as per balance sheet, $1,399,700. $108,721 in 1890; loss to lessee, $8,329, against 11roflt of $13,148 in 1890. In Feb., 92, the lea e and stock of the Elizabethtown Lexington & Big Sandy were transferred to the Chesa. & Ohio. Central Pacific ownsNe~ Haven & Derby .-SEE NEW YORI{ NEW HA YEN & HART. $1,680,000 of the took. Loans and bills payable wer• $818,435 J"uly Ne-w Haven & NorthaJUpton.-Operates from New Haven• 1, 1892. Offices, No. 23 Broad Street and New Haven, Conn. Conn., to Conway J"unction, Mass., 95 miles; branches-To Williams· burg, Mass., New Hartford, Conn., Turner's Falls, Ma s., Tariffville, New Yodr. B1·ooklyn & l.Uanhattan Beach.-From Frosh Conn., 32 miles; leases-Holyoke & Westfield RR.10 miles; total, 137 Pond J"unction to Manhattan Beach, and branches to Bay Ridge and miles. In J"une, 1887, leased for 99 years to the New York New Haven Greenpoint, 20 miles. This was a consolidation August 27, 1885. & Hartford at 1 per cent on stock till April, 1890; then 2 till April, Leased for 99 years from May 1, 1882, to the Long Island RR. as 1893; then 3 till April, 1896, and 4 afterward. Interest on bonds is 35 per cent of gross earnings, but the rental guaranteed to be atCo. least guaranteed. During J"anuary and February, 1893, stockholders have $95,980 in each year; 1st consolidated boncls are endorsed by Long the privilege of exchanging five shares of their stock for two shares of Island Railroad on application. Stock is $350,000 common and N. Y. N. H. k H., with the additional privilege, upon having made the $650,000 non-cumulative preferred (par, $100). Dividends on preferred exchange, of subscribing at par for certain convertinle debentures of from 1886 to 1891, both inclusive, 5 per cent :per annum, paid semithe New Haven Company-which see. The Holyoke & Westfield has annually, April and October, by Long Island Railroad Company. The paid annual dividends since 1879. Its first mortgage bonds due April consolidated mortgage of 1885 is for $2,000,000; trustee is Central 1, 1911, are guaranteed principal and interest by the New Haven & Trust Company. To year ending J"une 30. 1892, rental was $110,850; Northampton. deficit under interest and dividends, $924. (V. 51, p. 494; V. 54, p.1048.) Ne-w Jersey Junction.-Terminal road through J"ersey City Hoboken ::nd Weehawken, connectin° the trunk lines terminating at Ne"W" Yodr. & Canada.-Owns from Whitehall, N. Y., to Rouse'& those points; enA"th about 5 miles. f.eased for 100 years from J"une Point, N. Y., 113 miles; branches to Baldwin, Ausable ancl Province, 37 30, 1886, to the New York Central & Hudson River RR. Co., which miles; total operated, 150 miles. Leased in perpetuity and virtually guarantees the bonds absolutely and owns $100,000 stock. The mort- owned by the Delaware & Hud. Canal Co., which guarantees the bonds. gage is for $4,000,000. and has $4,083,546 invested in it. The stock is $4,000,000; par, $100. For 3 months endino- September 30, 1 92, surplus over charges was New- .Jersey & Ne"W" York..-Owns from Erie J"unction, N. J"., to $30,239, againAt a detlcit of $37,035 in 1891. For year ending J"une Garnerville, N. Y., 29 miles; branches to New City, etc., 5 miles; operates to Haverstraw, etc., 14 miles; total operated, 48 miles. Reorgan- 30, 1892, gross earnings were $954,385, against $1,026,761 in 1890-91; ized after foreclosUI·e in April, 1 80. Stock outstanding, $1,440,800 net, $218,528, against $241,4~1; deficit ~cler charges $92,236, agains1i oommon; $788,000 preferred; par, $100. Loan and bills payable $63,828.-(V. 54, p. 289, 888, V. 55, p. -98, 806.) were $48,000 J"uly 1, 1 92. Control of road is ,vith preren•ed stock and New- York. Central & Hudson River.-(See Jfap.J-Own first mortgage bonds till 6 per cent dividends have been paid on preferred stock for three years. In 1891-92 gros earnino- , $304,460; net, from New York City to Buffalo, N. Y., 442 miles; branches on Y. Y. Central division, 377 miles; total owned, 819 miles; lines lea ed-West $36,740; interest, $29,000; rentals, $11,400; deficit, ~l660. In 1890-91 Shore RR. and branches, Weehawk~n to Buffalo, 495 miles; Troy & gross $276,609; net, $31,987. (V. 54, p. 441; V. 55, p. 855.) Greenbush, 6 miles; Spuyten Duyvil & Port Morris, 6 miles; New York New London Nortllern.-Owns from New London, Conn., to & Harlem, 136 miles; New J"ersey J"unction, 5 miles; Rome Watertown Brattleboro, Vt., 121 miles, and lea es Brattleboro & Whitehall RR., & Ogdensburg, Suspension Bri(~~e to Massena Springs, and branches Brattleboro to South Londonderry, Vt., 37 miles. LEASE-Entire line is 629 miles; grand total, 3,096 miLes. About 300 miles of the New York leased for 99 years from Dec. 1, 1891, to the Central Vermont. The Central Division has four tracks. Also operates the Dunkirk Allegheny rental is $210,000 per annum, which leaves a small surplus after pro- Valley & Pittsblll'P Raih·oad, 104 miles, reported separately. viding yearly for interest and 8 per cent dividends. Taxes, assessments, In J"anuary, 1891, leased the Beech Creek Railroad (which see), 131 improvements and renewals, aremetbythelessee, without claim on the miles, not included in above mileage. New London Northern. Dr. Seward Webb, one of the directors of the N. Y. Central, is PresiDIVIDE'S'DB.-From 1878 to 1886, inclusive, 6; in 1887, 612; from 1888 dent of the Mohawk & Malone RR. (which see), extending from Herkito J"an., 1892, inclusive, at rate of 7 per cent per annum. Beginning mer on the Central's main line to Malone on the Central Vermont, a April 2, 1892, quarterly dividends of 2 per cent were payable under the distance of 178 miles, completed in November, 1892. It is underlease. The consol mortgage has become a first lien.-(V. 51, p. 241; V. stood that the Central will operate the A. & St. L., which will afford it 52, p. 391, 761; V. 53, p. 256, 881.l a through line to the important summer resorts in the Adirondacks Ne,v Orleans & North Eastc1·n.-NewOrleans, La., to Meridian, and, via 100 miles of connectm.g road, to Montreal. See V. 55, p. 255'. Miss., 196 miles. Stock is $5,000,000 (par, $100), of which $4,320,000 HISTORY, &c.-This company was formed by a consolidation o:r and $4,900,000 1st mortgag-e bonds are held by the Alabama New Or the New York Central and the Hudson River railroads October 1, 1869. leans & Texas Pacific J"unction Railway Company-which see-to which The New York Central was a consolidation of several roads under a spewas due J"uly 1, 1892, $923,960 on coupon account and $740,768 on cial law of April 2, 1853. The West Shore Railroad was leased in other accounts. Dec., 1885, for 475 years. The Rome Watertown & Ogdensburg. which From J"uly 1, 1892, to Nov. 30, 1892 (5 months), gross earnin!ls were see, was leased in perpetuity in March, 1891, and the Beech Creek $581,806, against $543,259 in 1891 ; net, $93,000, against $129,664 in RR. ( which see) in 1 90 for 999 years. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .- IL:·.,.,·. ~---. . ,,_.._.I.■---· ■-·--~.:-·.' ■ -,,,,l' . W.aii ,. , , ., . """' ~- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ,~ l Cl - I , • ~ NEW YORK CENTRAL & HUDSON RIVER R. R. L KE SHORE & MICHIGA SOUTHERN R'Y NE YORK, CHICAGO & ST LOUIS R. R. I i.,; ,_,, ICHIOAN CENTRAL RAILROAD • ~ 96 VESTORS' SUPPL~MENT. (VOL. LVI. I Subscribers " '1ll conter a great favor by glv1ng lm.m.edlate notice of' any error discovered ln these Table8. Bonds-Prino1 INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or When Due, Amount Rate per When Where Payable, and by pal, For explanation of column headings, &c., see notes of Par of Stocks-Last Outstanding on first page of tables. Road. Bonds Value. Whom. Cent. Payable Dividend. ----- New York Oenfral & Hudson Rive1·-0ontinuedN. Y. C. & H., $30,000,000 coupon or reg { mortgage... £2,000,000 · Debentures . . ...... .. ............................ c&r Debentures for $15,000,000 g., s. f. not dr'n .. c&r N. Y. Chicago cf: St. Louis-Common stock ............ 2d nreferred (5 per cent, non-cumulative) ........ 1st preferred (5 per cent non-cumulative) ........ 1st mortga~gold, sinking fund not drawn..... c* N. Y. Elevate SEE MANHATTAN ELEV.A.TED. N. Y. cf: Greenwood Lake-Prior lien M.,$500,000 .. 1st and 2d mort income........................... N. Y. cf: Harlem- 0om. and pref.stock, 8 :p.c.,N.Y.C. Consolidated mortg~e, coupon or registered .. c* N, .Y. Lackawanna cf: estern-Stock, guar. 5 p. ct. 1st mortgage, guar. by Delaware Lack. & West.c" 2d mor~age, guar. by Delaware Lack. & West.c* Termin Improv. M., (for $5,000,000) gu. p. & i.. New York Lake Erie ct Wesleni-Stock, common .... Preferred stoc~ not cumulative ................... N.Y. &E. 1st .,PiermonttoDunkirk,N.Y.,ext.c* 2d mortgage, (extended in 1879) gold ........ c* 3d mortgage, (extended in 1883) gold ........ c* 4th mortgage, (extended in 1880) gold ....... c* 5.th mort~age (extended in 1888), gold ....... c* Erie R'y,ls M.,Buff. Br. Hornellsv. to Attica, g.c* 1st consolidated mortgage, gold, $ & £ ....... c* ! ! 840 840 1873 $1,000 $30,000,000 7 1,000 9,733,333 1873 6 g. 1,000&c 11,000,000 1884-9 5 ··-· 1890 1,000&c 11,500,000 4 g. --·· ..... 100 14,000,000 .... 100 11,000,000 ..... -··· 100 5.000,000 See:text. --·· --·· 4 g. 1,000 19,525,000 513 1887 ---· 40 40 151 132 214 200 200 1 .... ·--- 446 446 446 465 465 60 526 1,000 1892 1878 100 &c. 50 is72 1,000 100 isso 1,000 1,000 1883 1,000 1890 100 .... 100 isi1 1,000 1,000 1879 1,000 1853 1,000 1857 1858 500 &c. 1861 100 &c. 1,000 1870 New York Central & Hudson Klver.-(Concluded.)CAPITAL STOCK.-'Dhe famous scrip dividend of 80 per cent on the eapital stock of the New York Central was made in December 1868 and on the consolidation with the Hudson River Road (November 1: 1869,) a further dividend of 27 per cent was distributed on the New York Central stock and 85 per cent on the Hudson River stock. DIVIDENDS.-From 1869 to 1884 inclusive, 8 per cent per annum; in 1885, 312 per cent. From 1886 to 1889, inclusive, 4 yearly; in 1890, 412; in 1891, 412; in 1892, January 112· April 114· July 114 · October 114; in 1893, January, 114 per cent (quarterly/ ' ' ' PRICE OF B!OCK.-In 1880, 122@155 3s; in 1881 , 13014@155 ; tn 1882, 123Ds·~138; m 1883, 11112JH291s; in 1884, 8312@122; in 1885, 81~@ 10714; m 1886, 98~@1173s; m 1887, 101~·d>l145s; in 1888, 10212@111; in 1889, l 04 7 s@ll 012; in 1890, 9514@111; in 1891, 98121il119~; in 1892, 10718@11914; in 1893, to January 20, inclusive, 10814@11012. BoNDs.-Under the lease of the West Shore RR. $50,000,000 of 4 per eents were guaranteed and $10,000,000 West Shore stock taken as con• sideration. Four per cent per annum is guaranteed on the stock and bonds of the Beech Creek-see that company-and in 1891 the debt of the Rome Watertown & Ogdensburg was assumed, under the lease, and 5 per cent yearly guaranteed on its stock-see that company. Gouverneur & Oswegatchie bonds for $300,000 are also guaranteed. Of the $11..,000,000 5 per cent debentures due 1904, $1,000,000 registered bonas, dated in 1889, have no mortgage privilege, but have a stock conversion privilege, while debentures of 1884 have not. In June, 1890, $15,000,000 debenture 4 :\>er cents were authorized for improvements. They are to be included m any new mortgage, and have a sinking fund of $300,000 yearly-no drawings. The debt ce:ftiflcates due May 1, 1893, have been extended for twelve years at 4 per cent, interest and principal payable in gold. GENERAL FINANCES.-In May, 1892, an additional issue of $3,000,000 of 4 per cent debentures was made, making total outstanding $11,500,000. In 1892 the Fooeral Government ordered the Central to raise its bridge over the Harlem River 24 feet. This will necessitate an outlay of between $3,000,000 and $4,000,000. See V. 54, p. 560. LATEST EARNINGS.-The statement of earnings, etc., for the six months ending D ecember 31, 1892, is as follows. Bee vol. 55, p. 1110. Actual. 1891. Estimated, 1892. Gross earnings ................ :. ..... $24,153,618 $24,419,9 2 Netearnings... .. .. ...... ............ 8,148,669 7,652,677 First charges. ....................... 4,932,375 5,015,999 ------ Net earnings ................ $12,516,274 P. c. of oper. exp. to earns. (66·18) Reb. State t'x prior y'rs 111,030 $12,531,262 (66·94) 88,740 $14,339,512 )68·47) 77,351 Total net income ... . $12,627,304 Rentals paid ........... . $4,053,393 Interest on debt ....... . 3,590,535 Taxes on earn.& cap.st'k 209,884 Reserved for deb'tures. Dividends .........•.... (412) 4,024,273 Miscellaneous ......... . $12,620,002 $4,452,100 3,854,968 274,896 300,000 (4)3,577,132 72,222 $14.,416,863 $5,303,704 3,987.818 214,359 300,000 (5) 4,471,415 6,245 Total disbursements. $11,878,085 $12,531,318 $14,283,541 Ba.lance......... .. . ...... sur.$749,219 sur.$88,684 sur.$133,322 -(V. 53, p. 6, 22, 454, 518, 604, 673. V. 54, p. 34, 243, 486, 560, 845, 889; v. 55, p. 6, 21, 255, 439, 459, 544, 639, 765, 810, 857, 1110; v. 56, p. 83. Ne-w York Chicago & St. Louis.-(See Map of New York Oen· tral cf: Hudson Rive1•.J-Own.a from Buffalo, N. Y., to llli.nois State Line, 512 miles; leases in Buffalo, 112 miles; Illinois State Line to Chicago, 9 miles; total, 523 miles. H!STORY.-The former Railway Company was formed. in 1881 and beoame known as the "Nickel Plate." Bale in foreclosure took place May 19, 1887, and the present company was formed in September 1887. Srocx.-Lake Shore & Michigan Southern owns $6,240,000 common, $6,275,000 2d preferred and $2,503,000 1st prefen-ed stock. DIVIDENDS.-On first preferrred: In 1891, March, 312 per cent; in 1892, March, 3 per cent. . BoNDs.-A sinking fund of $100,000 per year is provided when net earnings are $900,000 or upwards, if bonds can be bought at or below 102; if not, tbe sinking tund lapses for that year, thua leaving $100,000 more for dividends. The original issue of bonds was $20,000,000, and tt has been reduced to present amount by the sinking fund purchases. Bee abstract of mortgage (Central Trust Company of New York, trustee), V. 45, p. 541. Gold car trusts for $600,000 bearing 5 per cent interest https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J. N. Y., Gr.:cent. Station. J. London, Union Bank. 8. N. Y., Gr. Cent. Station. D. do do . .... ----- A:·&:·o. . ......... Jan. Jan. Sept. June 1, 1, 1, 1, 1903 1903 1904 1905 . ....... 1; N. Y., Gr. Cent. Station. Mcii.· ·i892 N. Y., Union Trust Co. Oct. 1, 19~7 ~50,000 ..... New York. 5 2,700,000 F. & A. None paid. 6 10,000,000 See text. J. & J. N. Y., Gr. Cent. Station. 12,000,000 M.&N. 7 do do 10,000,000 5 per an. Q.-J. N. Y., by Del. Lack.&W. 12,000,000 J. & J. do 6 do 5,000,000 F. & A. do 5 do 4,350,000 M.&N. 4 do do 77,427,000 ..... ":f 8,536,600 N. Y., 21 Cortlandt St. M:·&·N. 2,482,000 do 7 do 2,149,000 5 g. M.& S. do do 4,617,000 412g. M.& S. do do 2,926,000 5 g. A. & 0. do do 4 g. J. & D. 709,500 do do 182,600 4 g. J. & J. do do 16,891,000 7 g. M. & S. New York and London. 1942 Nov.30,1908 Jan. 3, 1893 May 1, 1900 Jan. 2, 1893 Jan. 1, 1921 Aug. 1, 1923 May 1, 1923 Jan:15;·i892 May 1, 1897 Sept. 1, 1919 Mch. 1, 1923 Oct. 1, 1920 June 1, 1928 July 1, 1921 Sept. 1, 1920 Iwere issued in 1892, $60,000 being payable Sept. 1 1902 th Profit.......... . . . . . . . . . . . . . . . . . . $3,216,294 $2,636,678 ANNUAL REPORT.-Fiscal year ends June 30. Report for 1891-92 was in V. 55, p. 439, 459. The figures below include the Rome Watertown & Ogdensburg after March 15, 1891. 1889-90. 1890-91 1891-92. Gro s earnings ............. $37,008,403 $37,902,114 $45,478,625 Oper. exp., includ. taxes... 24,492,130 25,370,852 31,139,113 ---- J. & J. & M.& J. & yearly from 1893 • bo inclusive. LATEST E.A.RNINGS.-From January ~ to Sept. 30, 1892 (9 months) gi:oss, $4,567,156, against $4,438,058 m 1891; net, $86.9,031, against $838,602; interest, rentals ~nd taxes, $779,809, agamst $762,0l'l; balance, surplus, $89,222, agamst $76,590. (V. 55, p. 895.) ANNUAL REPORT.-Report for year 1891 was in CHRONICLE, V. 54, p. 885. 1888. 1889. 1890. -1891. Gross earnings .....•. $4,918,217 $5,090,329 $5,820,306 $6,171,088 Oper. expen. & taxes. 4,113)824 4,003,544 4,678,251 5,056,082 Netearnin~s. ..... $804,393 $1,086,785 $1,142,054 $1115 006 Net,inc. othermcome $810,813 $1 092175 $1154 828 $1'128'574 ' ' ' ' ' ' fnterest paid......... $778,240 $791,680 $784,570 $780,422 90 5 5 1 87 , 685 81 •416 81 ,139 Rentals··············· , 9 9 9 40 93 •748 99 , 954 Sinking 1st fund .. ········ lOO,OOO 1 50•,000 175,000 Div. on pref······ _____ _____ to Total............. $959,656 $972,773 $1,141,002 $1,120,913 Balance........... df.$148,843 sr.$119,402 sur.$13,826 sur.$7,667 -(V. 53, p. 714; V. 54, p. 329,800,885; V. 55, p. 895.) New York & Green-wood Lake.-Owns from Jersey City, N. J., to Greenwood Lake, 48 miles, and branch to Ringwood, 2 miles; oper · ates Watchung Ry., Woodside to Orange, N. J., 4 miles, and the Cald well Ry., 5 miles; total, 59 miles. The NewYorkLakeErie &Western and Cooper, Hewitt & Co. control the property. Stock, $100,000; par $100. The holders of the second mortgage of $1,800,000 have the right to r<\Y off the :first mortgage incomes of $900,000 at 105. E.ARNINGS.-Gross earnings in 1891, $302,634; net, $43,481; interest, $15,839; loss on Watchun~ RR., $1,882; interest on advances for State taxes, an accumulation or 12 years, charged off, $24,711; surplus for year, $1,049. In 1890, gross, $224,466; net, $9,514. .Abram 8. Hewitt, President. (V. 50, p. 873.) Ne-w York & Harlelll.-Own.a from New York City to Chatham N. Y., 127 miles. From Chatham to Albany, 24 miles, the Boston & Albany Railroad is used. This company owns the Fourth A venue street railroad. The property (except the horse raih·oad) was leased April 1, 1873, for 401 years to the N. Y. Cent. & Hudson at 8 per cent dividends on the stock and the interest on the bonds. The preferred stock is $1,361,350; balance, common. Both stocks in addition to the 8 per cent guaranteed by the N. Y. Central have received dividends out of the earnings of the Fourth A venue horse railroad, annually in April, as follows: From 1882 to 1889, inclusive, 2 per cent yearly; in 1890, 1891 and 1892, 212 per cent. All operations mcluded in New York Central & Hudson. (V. 51, p. 494; V. 55, p. 372.) Ne-w York Laeka-w-anna & Western.-(See Map of Delaware Lackawanna cf: Westeni.J-From Binghamton to Buffalo and International Bridge and branches, 214 miles; Delaware Lackawanna & Western has a lease for 99 yearfl, giving a guaranty of the bonds and 5 per cent yearly on the stock, the guarantybein~endorsed on the bonds and stock certificates. Due the lessee July 1, ·1892, $692,866. In first 6 months or 1892 gross, $3,688,194, against $3,549,365 in Hl91; net, $1,593,587, against $1,606,356 in 1891. Ne-w York Lake Erle & Western.-Main line Jersey Citf. t.e Dunkirk, N. Y., 460 miles, with branches 643 miles; total 1,102 miles, made up as follows: Lines owned. Miles. , Lines leased (continued). Milesl Piermont, N. Y., to Dunkirk, Buffalo New York & Erie RR* 140 N. Y .......................•.. 446 Suspen. Bridge &Erie J. RR*. 24 Branches to Attica, etc ...•••. 105 Rochester & Genesee Val. RR* 18 Lines leased. (*Bee these comBuffalo & South western RR*.. 66 panies.) Northern of New Jersey RR*.. 26 Jersey City to Suff&rns, N. Y. N. Y. L. E. & w. c. & RR ...... 31 (several small roads)........ 31 Sundry short lines .... ., .....•. 144 Jeff~rson RR*.................. 45 -Buffalo Bradford & Pitts. RR* 26 Total N. Y. L. E. & W ...... 1,103 Also leases New York Pennsylvania & Ohio and branches, 596 miles, and owns the entire stock of the Chicago & Erie, owning from Marion 1 0., to Hammond, Ind., 249 miles, and leasing trackage over the Chicago & Western Indiana, 20 miles, to Chicago, making grand total Oct. 1, 1892, 1,968 miles. H.IsTORY, LEA.SES, &c.-The New York & Erie Railroad was chartered April 24, 1832, and opened to Dunkirk April 22, 1851. Reorganized as Erie Railway Company in 1861, and sold under the seoond consollda.ted mortgage in 1878; reorganized as at present June 1, 1878. The Long-i>ock Comp'y has stock of $800,000, all owned by the New York Lake Erie & Western; its property consists of lands and lands under water, about 577 acres, with piers, buildings, &o. The New York Lake Erie & Western Coal & Railroad Compt.ny is an auxiliary oorporation from which advances af $1,388,252 are due, as per balance sheet of Ootober 1, 1892; in August, 1890, its bonds were guaranteed prinoipal and interest (by endorsement on bonds), the property being leased till July 1, 1925, at a rental equal to interest. See V. 51, p. 752, and de• scription of property in V. 52, p. 642. In the reorganization of the Chicago & Atlantic (now Chioago & Erie), thert\ were issued $12,000,000 4-5 per cent 1st mortgage bonds, intere■t J.iltUARY, 1~•3.J RAILROAD STOCKS .AND' BON:US. Subscribe1·s will conCer a great favor by giving Im.mediate notiee oC any error discovered in these Tal>le~. RAILROADS INTEREST OR DIVIDENDS. Bonds-Prin.cl · Miles Date Size, or pal,WhenDuf'. For explanation of column headings, &c., see notes of of Par 0 ~t1n_~g Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. New York Lake Erie & Western-(Oontinued.)7 g. M.& 8. N ew York and London. N. Y. L. E. & West. funded coupon bonds, gold.c* 526 1878 $500&c. $3,705,977 1,000 1st lien mort., 01d, sink. fund (not drawn) ... c* 534 1878 2,500,000 6 g. M.&N. do do 2d Gonsolidate and funded coupon bonds, g .. c* ...... 1878 500 &c. 33,597,400 6 g. J. & D.N. Y., Drexel, Morgan. 1,000 Collateral trust bonds, s. f. drawn at 110, g .. c* .... 1882 3,344,000 6 g. M.&N.N . Y., 21 Cortlandt St. do 1,000 Funded couson bonds, gold (red. at 105) ..... c* .... 1885 4,031,400 J . &D. do Income bon s (non-cumulative) . ..... ... ........ ..... 1878 300 &c. J. & D. Paid 6 p.o. Jan. 15, 1893 508,008 1,000 ...... Old car trusts, ser. B. to G. incl., part pd. ann. c* ...... 3,794,000 Various N. Y., 21 Cortlandt St. . (1). New car a nd engine trusts . ... . . ..... .. ........... ---.... do do -- ----1,730,168 1,000 N. Y. Car trust, 1888, ser. A. (guar. i:>y D. & H.) .. .... 1888 J. & J. do do 5 1,000 Long Dock Co. 1st mortgage, int. guaranteed ... c* ---· 1863 3,000,000 J. & D. do do 7 1,000 Consol. mort., g., red. at 110 from l and sales .c* .... 1885 4,500,000 ~ g . A. & O. N. Y., Drexel, Morgan. 12 1868 1,000 250,000 J. & J. N. Y., 21 Cortlandt St. Newburi & N. Y. 1st mort., extended in 1889 . . c* 1,000 N. Y. L. . & W. Coal &RR. lstM. gu.,endorsed.c* .... 1882 3,075,000 M. & N. do do 6 1,000 N.Y.L.E. & w. D & I. Co.1st M., see V. 56, p. 82.c* ..... (1883 4,000,000 J. & J. do do 6 N. Y. & Long B , anch-SEE CENTRAL OF N. J. 40 100 N. Y. & Massachusetts-Stock ....................... . 1,014,000 ·······--· 1,000 1st mortgage .......... ............. ................ 113 i875 24,000 F...&..A. 7 ······-··· (1) ConsolidatE:d mortgage, gold .......••......... . ... .... 1887 5 g. A. & 0. -········· ·ioo 19,781,000 ........ N. Y. & N. Entand-Stock ($20,000,000 authoriz'd) ...... . ... 100 Preferred s ck, 7 per cent cumulative ........... ---3,665,000 See.text. M: .&. ·N. Boston,of,244. Fed'l St. 1,000 10,000,000 6&7 J. & J. Boston, 8.Dep. &Tr. Co. 1st mortgage ($6,000,000 are 7s) ..... .... ......... 321 1876 1,000 2d M.,Eart scaled ($998,000 were 5s till Feb.,'92) 321 1882 5,000,000 6 1,000 Conso dated mortgage for $215,000,000, gold .... ·--· 1892 (1) 5 g. j_- : t: \Boston,_~.~~.~~ner St. A. & 0. Boston, 180 Sumner St. Boston Terminal 1st mortgage .................. c* ---- 1889 1,386,000 4 --·· Real estate mortgage note ......................... ··-60,000 412 F. & A. 1Lowellinst. for Savings ------. ... do do Curtis's Wharf ..........•.... .... 1888 80,000 .A.. & 0. Boston. 5 .. ... 200,000 Due on purchase Piper's Wharf............. ....... ..... do do 512 Mt'hly. ---- 1,000 410,000 F. & A. Boston,OldC0lonyTr.Co Notes securing equipment lease (see text) . ...... c ---· 1890 6 8 P· } on which is guaranteed. Erie holds $4,500,000 C. & E. incomes and all the $100,000 stock. See CHRONICLE, v. 50, p. 621, 752: v. 51, p. 911. Road was turned over to Erie on September 1, 1890. CAPITAL STOCK.-Preferred stock has a prior right to 6 per cent ('llon-cumulative) from the net profits, " as declared by the board of directors," but the U. S. Supreme Court held in 1886 that this stock has no legal right to claim a dividend, though ~et earnings are sufficient. DIVIDENDS on preferred stock from 1882 to 1884, 6 per centr-none afterwards till Jan. 15, 1892, when 3 per cent was paid; in J an .,'93, nil. PRICE OF 8TOCK.-Common in 1884, lllg@283s; in 1885, 9¼@27 7s; in 1886, 2212@383s; in 1887, 2412@351!s; in 1888, 223s@3034; in 1889, 253a@307s; in 1890, 16@2912; in 1891, 1712@3412; in 1892, 2318@34¾; in 1893 to J an. io, tnclusive, 2318@25¾. Preferred stock-In 1884, 201i>71; in 1885, 18@57; in 1886, 5012@ 8112; in 1887, 59@76; in 1888, 5212@6712; in 1889, 61@71¾; 1n 1890, 46@6912; in 1891, 4712@77¾; in 1892, 53121i>7712; in 1893 to Jan. 20, inclusive, 53@563s. BONDS.-The first lien bonds of 1878 have a sinking fund of $100,000 yearly and might be called for payment, but the company "has decided that redemption shall be by purchase only." The first consolidated funded coupon bonds are secured by lien of con'IOlidated mortgage. On the second consolidated mortgage (Farmers' Loan & Trust Company, trustee) no foreclosure can take place till six successive coupons are in default, but all of one coupon must be paid before any part of a subsequent coupon is paid. The collateral ttust bonds of 1882 (the United States Trust Company, trustee, see v. 38, p. 509), are redeemable at 110 on three months' notice. The second oonsolldat,ed funded coupon bonds of 1885 were issued to fund three past-due coupons and the coupon of June, 1886, the cou~ons being deposited as security. These bonds are redeemable at any time at 105 and accrued int,erest. The Long Dock mortgage for $7,500,000 was issued in 1885 ($3,000,000 being reserved to meet the old bonds), and the bonds are redeemable any time at 110, but from land sales only. The Long Docks 7s due June 1, 1893, will be paid at maturity. Of the $4,000,000 Dock & Improvement Company's bonds, $604,000 are deposited under Erie's collateral trust of 1882. As to Dock & Improvement Company see full statement in V. 56, p. 82. In November, 1892, the President advised formulating a plan to provide for improvements; it was reported (without official contlrma• tion) that a new collateral trust for $10,000,000 of 5 per cents was to be created for funding, etc., purposes. V. 55, p. 857, 938. On October 1, 1892, the new car trusts amounted to $1,248,703, the new engine trust to $481,465, and old car trusts, $3,794,000. V. 55, p. 940. The N. Y. L. E. & W. Coal & RR. Company's bonds were described in V. 52, p. 64.,;. Bee also above under" Organization, Leases, etc." FLOATING DEBT.-On October 1, 1892, loans anj bills payable were $4,014,671, against $2,284,633 October 1, 1891; total current liabilities, $9,138,765, against $7,354,529; total current assets, $4,282,290, against $4,262,842; total contingent assets, $2,906,064, against $2,816,264. See full statement .in report, V. 55, p. 937. LATEST E.A 1, INGS.-For the first two months of tlle fiscal year results were as follows : Oct. 1 to Nov. 30. 1891. 1892. Gross earnings ...... ............. .......... $5,558,170 $5,341,736 Net earnings.............. ...... ........... 1,908,955 1,907,786 Proportion due leased lines....... . ....... 474,216 488,284 Balance............................ . .... $1,434,739 $1,419,502 ANNUAL REPORT.-Fiscal year ends September 30. Annual meeting is held on last Tuesday in November. The annual report for the year 1891-92 was published ln the CHRONICLE, V. 55, p. 920, 937, 939. The gross earnings include the N. Y. Penn. & Ohio and all the leased lines. Year ending Sept. 30. 1889-90. 1890-91. 1891-92. Miles operated Sept. 33.... .. .. .. . 1,638 1,698 1,968 '. l'otal gross earnings .............. $29,068,935 $30,090,699 $31,261,784 Proportionpaidleasedlines ......• 2,614,101 2,587,066 2,628,043 Leaving as g_ross revenue ........ $26,454,834 $27,503,633 $28,633,741 Total operating expenses . . . . . . . . 19,505,951 20,243,936 21,466,784 Net earnings ......•............... $6,948,883 $7,259,697 $7,166,957 P. c. oper. exp. to total gross earn's. G7·1024 67·2763 68·6678 PROFIT .A.ND LOSS STATEMENT. 1889-90. 1890-91. $7,259,697 385,094 Interest on securities......... 454,589 385,641 Other credit items............ 274,870 269,298 Net earnings .................. $6,948,883 Pavonia, feITies earnings . . . . . 360,557 Total credits .............. $8,038,899 Pavonia ferries-expenses.... $341,627 Interest on funded debt...... 4,693,021 Weehawken <locks-interest.. 55,245 Interest on loans............. 164,750 Interest on mortgages, &c. . . 6,787 Interest on equipment........ 319,488 Rentals ofleased lines........ 1,220 884 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $8,299,730 $323,962 4,688,880 18,415 114,592 7,175 294,438 1,518 086 1891-92. $7,166,957 398,566 310,557 431,718 $ , , 8 307 798 $327,922 4,680,781 I Taxes ........ ....... .......... . Claims of prior years ........ . Other debit items ............ . 1889-90. $119,875 55,692 201,275 1890-91. $120,239 51,955 156,610 Sept. 1, 1920 Dec. 1, 1908 Dec. 1, 1969 Nov. 1, 1922 Dec. 1, 1969 June 1, 1977 1900, ' 02, '05 B y Au 1898 $ 63,00 Jan. l June 1, 1893 Oct. 1, 1935 Jan. 1, 1929 May 1, 1922 July 1, 1913 3., Aug.. i·,· "i905 Oct. 1, 1937 Nov: 2,..i891 Jan. 1, 1905 Aug. 1, 1902 June 1, 1942 .A.pr. 1, 1939 (1) Oct. 1, 1893 Mch. 1, 1893 A ug., '93to'9'1 1891·92. $128,478 89,375 248,396, Total debits ................. $7,178,644 $7,294,352 $7,574,531} .Balance, surplus............ $860/J54 $1,005,378 $733,259' -(V. 53, p. 187, 754, 778, 792, 793, 794; V. 54, p. 288, 761, 846; V. 55, p. 161, 337, 920, 937, 938, 939, 1036.) New- York & New England.-Owns from Boston, Mass., to Hopewell Junction, N. Y., 215miles, (and thence has trackage via. the Newburg Dutchess & Connecticut to a connection with the New York Central & Hudson River Railroad at Fishkill, 11 miles) Providence, R. I., to Willimantic, Conn., 58 miles; branches, Woonsocket, R. I., to Springfield, Mass., etc., 87 miles; total owned, 360 miles, of which 110 miles are double track. Leases-Franklin to Valley Falls, 14 miles; Vernon to Rockville, 4 miles; Franklin to Ashland, 20 miles; Norwich & Worcester RR. (which see), 66 miles; Providence & Springfield (which see),. 21 miles, and Woonsocket & Pascoag, 10 miles; total1eased, 136 miles; also has running arrangements over 11 miles more. Total opera.tied, July 1, 1892, 508 miles. From Norwich to London, 14 miles its train are hauled by the New London No. RR. Co, Controls No~ch & New York Steamer line. The Meriden Waterbury & Connecticut, leased for 99 years from Sept. 1, 1892, extends from Waterbury to Cromwell, Conn., 28 miles. V. 54, p. 367,648. ORGANIZATION.-Successor in 1873 to the Boston Hartford & Erie Railroad, which became insolvent. From Jan.1, 1884, to Jan. 1, 1886, in hands of a receiver. Management changed in 1892. In October, 1892, Philadelphia. & Reading parties bought a large int,erest in the stock. See V. 55, p. 704, 723. Through trafu service to New Yuk City over the New York & Northern was announced in December, 1892. V. 55, p. 996. . CAPITAL !!!TOCK.-The preferred stock is 7 per cent cumulative, bui without interest. In 1892, $365,000 preferred stock was sold. DIVIDENDS.-On preferred stock from 1886, when issued, to Nov.• 1891, both inclusive, were 7 per cent yearly In 1892 a dividend of 31.g. per cent was declared payable May 2, but its payment was temporarily enjoined. V. 54, p. 964. PRICE OF COMMON 8TOCK.-ln 1887, 34~@66; in 1888, 29¼'11!5314; in 1889. 4118@5318; in 1890, 28@5214; in 1891, 31 @43; in 1892 30 7s @59; in 1893 to Jan. 20 inclusive, 44 141i>52lg. BONDS, ETc.-Stock is reserved for $219,000 convertible Boston Ha.rt► & Erie Berdell bonds. Of the 2d mortgage bonds $998,000 bore 5 per cent interest to Feb. 1892-for balance of term they bea.r 6 per cent. In March, 1892, the stockholders voted to issue a consolidated mortgage. ~here is some opposition thereto, and the question of its legality 1s pendmg. See V. 54, p. 443, 721, 800, 1047; V. 55, p. 177, 256, 331,. 504, 639, 723, 895; v. 56, p. 83, 127. Equipment notes mature Aug. 1 , 1893, to A.ug. 1, 1894, $25,00(), yearly; A.ug. 1, 1895 and 1896, $100,000 yearly; .A.ug.1, 1897, $160,000. FLOATING DEBT.-On October 1, 1892, loans and bills payable were $502,110; other equipment notes, $36,563. LEASED LlNES.-Company guarantees $750,000 Providence & Springfield 5 per cents, and also under terms of leases pays rental equal to, interest and divid ends on following bonus and stocks : Meriden Waterbury & Connecticut 5s, $450,000; Norwich & Worcester 8 per cent stock, $2,640,300 and 6 per cent bonds, $400,000; Prov. & Springfield. 6 per cent stock, $517,450; Woonsocket & Pascoag 5 per cent stock, $200,000, and 5 per cent bonds, $100,000. See statement for each. EARNINGS.-From J anuary 1 to Sept. 30, 1892 (9 months) , gross$4,539,636, against $4,619,930 in 1891; net, $1,270,510, against; $1,520,488; interest, rentals and taxes, $1,390,760, against$1,383,232. balance, deficit, $120,250, against surplus of $137,256 in 1891. A.NNUAL REPORT.-Fiscal year ends Dec. 31. Annual meeting is held' in Boston on second Tuesday in March. Annual report for 1891 in V. 54, p. 442. Figures for 1891·92 below are for year ending June 30, from reports to N. Y. State RR. Commissioners: 1891. 1891-92. 1890. Total gross earnrngs ............... $6,029,125 $6,229,030 $6,216,617' Net earnings ... .................... $2,007,857 $1,915,684 $1,664,175• Other receipts...................... 9,301 7,204 6,295 Total income ................... $2,017,158 $1,922,888 $1,670,470· Rentals paid........................ $410,793 $460,24.0 $475,477 Interest, etc...................... . . 1,043,384 1,116,056 1,120,296, Taxes............................... 283,800 264,764 264,765 7 p. c. div. on pref. stock.......... 189,000 210,000 243,775• ---Total disbursements .........•• $1,926,977 $2,051,000 $2,104,313 irf6; 803 Balance, surplus............ . • . • • • $90,187 def.$128,172 df.$433,843. 9,275 -(V 53, p. 224, 714; V. 54, p. 78, 367, 442, 721. 800, 964, 1048; V. 55,. 303,836 p. 21,106,177,256.331, 337,373,419, 504, 639, 704, 723, 806. 895,,. 1 609 673 935, 938, 996; V. 56, p. 83, li7.) • • MAP OF THE ii ,1 J \ NEW YORK, ONTARIO & WESTERN RAILWAY & CONNECTIONS. ,I ~1 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J.uro.utY, 1898,J RAILROAD STOCKS Sub•crlber• will conl'er a great f'avor by giving Im.mediate notice of' any error discovered In the•e Table•• Bonds-PrinolRAILROADS. INTEREST OR DIVIDENDS Miles Date Size, or pal,When Du.~ Amount Rate per When Where p~ble, and For explanation of column headings, &0., see notes of of Par Outstanding by Stocks-Last on first page of table. Road. Bon.ds Value Cent. Payable om. Dividend. llew York New Haven•ct Hartford-Stock ...• .•. •••.. 1st mort'aie (for $5,000,000) .................... r Deb'res ( 1 ,000,000)lexch. for st'k at par in 1903 BONDS OF PROPRIETARY LINES : N. Y. Prov. & Boston lstM., Prov. to Ston'gton.c* 1st mortgage (Stonington to New London) .... c* General mortgage for $4,000,000, gold ...... c&r Housatonic old consolidated mortage ........... Danbury Branch bonds, eubject o call ......... New consol. mortgage (for $3,000,000) gold .. c* New Haven & Derby 2d mort. (now 1st) guar... c* Consol. mort for $800,000, int. gu. by rental.c* Mortgage on HuntingtonBranch ................ Funded coupon certificates ...................... Real Estate Certificates .................... ...... Danbury & Norwalk con. M. ($100,000 are 6s).c* General mortgage ...... ........................ c* Harlem & Portchester, leased, 1st mort. guar.c&r 2d mortiage, guaranteed .................... c&r N. Y. & Nort et·n-lst mortgage, gold ..... ........ c 2d mortga~ gold ~as income till Dec., 1891) .. c N. Y. Ont. ct est.-S ck ($6,000 is old pref.) ..... ©onsol. mortgage, gold, red. at 105 in '99 .. ..... c· Refundint mort~fte for $20,000,000, gold... c*&r Wharton alley . 1st M., guar. p&i.. .......... . New York Penn. ct Ohio-PriorlienM.,gold,$ & £.o" 1st mort.• gold,$ & £ ............................ o* 2dmortgage, incomes, gold,$ & £ ... ........... o* 3d mortgage, incomes, gold, $ & £ .............. o* Equip. trust bonds, sink. fund 3 p. c.(dr'n at 100) Equip. trust bonds, sink. fund 3 p. c. (dr'n at 100) Deferred int. warrants, conv. into 1st M. bonds .. New Castle & Shenango Valley, 1st M., int. guar. .... --- isss .... 1893 123 50 12 62 74 ---- See text. See text. Q.-J. New Haven, Co.'s Office. J an. 2, 1892 $100 4 l,OOO&c $2,000,000 J. & D. N. Y., Chem'al Nat. Bk. June 1, 1903 4 100 &c. See text. .A. & o. New York. See text. .... ..... 1869 1,000 1881 1,000 1892 · 1,000 1880 500 &c. 1882 ---1887 1,000 1870 500 &c. 1,000 1888 1888 1888 1:000 1888 1880 1:000 1883 100 1,000 1873 1,000 1881 1,000 1887 1,000 1887 100 $Or£ 1892 1,000&0 1,000 1888 1880 500 &c. 1880 500 &c. 1880 500 &c. 1880 500 &c. £100 1888 £100 1890 ·17 iss7 ·so 13 13 4 .... .36 36 12 12 57 57 320 320 7 427 427 427 427 iss9 1,000 1,000,000 300,000 1,000,000 100,000 61,000 2,839,000 225,000 575,000 71,900 480,000 225.000 500,000 150,000 2,000,000 1,000,000 1,200,000 3,200,000 58,119,982 5,600,000 6,500,000 75,000 8,000,000 44,335,000 14,500,000 30,000,000 £208,967 £234,625 19,104,259 250,000 7 4 4 g. 4 5 5 g. 7 5 6 6 6 5&6 5 6&7 4 5 g. 4 g. ..5.g. 4 g. 5 6 g. 7 g. 5 g. 5 g. 5 g. 5 g. ..6.g. J. & J. N. Y., Central Trust Co. A. & 0. do do A. & 0. do do A. & 0. New Haven, Conn. A. & 0. do do M.&N. N. Y., Farm. L. & Tr. Co. New H aven, Conn. F. & A. M.&N. do do F. & A. do do F. & A . do do do F. & A. do do J. & J. do do do A. & 0 . A. & 0. N. Y., Chem'al Nat. Bk. do do J. & D. A. & 0. N. Y., Office, 32 Nassau In default. J. & D. J. ·&·:o. N. s. M.& M.&N. M.& 8. J. & J. M.&N. M.&N. M.&N. J. & .D. Y. Office & London. New York City. New York Office. N. Y., Farm. L. &Tr. Co. London. None paid. None fcaid. Lon on. do Jan. 1, 1899 Apr. 1, 1901 Apr. 1, 1942· Apr. 1, 1910 Oct. 1, 1912" Nov. 1, 1937 Feb. 1, 1900 May 1, 1918 Feb. 1, 1900 Feb. 1, 1900 Feb. 1, 1900 July 1, 1920Apr. 1, 1925, Oct., 1903 June 1, 1911 Oct. 1, 1927 Dec. 1, 1927 1; June· -i939 June 1, 1992' 1918 Mch. 1, 1895July 1, 1905 May 1, 1910 May 1, 1915May 1, 1908 June 1, 1910 J. ..&.. J . N. Y., Farm. L. & Tr. Co. Juiy. i·.· "i917 1888-89. 1889·90. 1890-91. 1891-92Interest paid..... $80,000 $80,000 $80,000 $80,000 Rentals . . . . . . . . . . 906,033 982,888 984,060 981,685 owns practically the entire capital stock of, the New York Providence Taxes . . . . . . . . . . . . 484,254 552,868 616,923 605,962· 1,705,000 & Boston, which owns from Providence, l:<. L, to New London, Coun. Dividends (10%).. 1,550,000 1,865,000 2,103,750 (including the Thames River bridge), 62 miles; and branches. 18 miles. Leases Pawtuxet branch road, 6 miles ; Providence & W orces~r RR. Balance, surplus. $126,644 $198,020 $37,097 $58,53:t (which see), Providence to Worcester and branches, 50 miles; Shore Line -(V. 54, p. 288,542,560,721,800,924; V. 55, p. 331,418,463, 501, Railroad, 48 miles; Boston & New York Air Line and branch, 55 679, 810, 895, 1011, 1035, 1111; V. 56, p. 42, 83, 127.) miles; New Haven & Northampton Railroad, New Haven, Conn., to Ne,v York & No1·the1·n.-0wns from 155th Street and 8th Ave Conway Junction, Mass., branches, etc., 137 ; Naugatuck Railroad, Nau gatuck Junction to Winsted, Conn., and branch, 61 miles; Hartford nue, New York City (terminus Manhattan Elevated), to Brewst.ers .. & Connecticut Valley, Hartford to Fenwick, Conn., 46 miles; Harlem N. Y., 54 miles; double track branch to Yonkers, 3 miles; operates 4 River & Port Chester, 11 miles; total July, 1892, 64.4 miles, of which miles; total, 61 miles. Sold in foreclosure August 17, 1887, and 22 miles had four tracks ; also on Dec. 13, 1892, began operating reorganized. Through train service between New York and Boston via. directly the Housatonio Railway, New Haven & Derby , etc., 190 miles. tW road and the N. Y. & New England was bAguD- in December, 1892. In January, 1893, control reported purchased m interest of the ManHISTORY.-A consolidation in 1872 of the New York & New hattan Elevated. See CHRONICLE or Jan. 28. Equipment trust JuneHaven and the New Haven & Hartford. The N. Y. Prov. & Boston 30, 1892, $100,870; loans and bills payable, $70,893. Overdue coupons was leased from April 1, 1892, and its stock exchanged for New Haven to Dec. 1, 1892, on 2d mort., $128,000. stock. See V. 54, p. 721, 887. The Providence Company owns a STOCK.-Common, $3,000,000; preferred 5 per cent, non•cumulative.. majority interest in the Providence & Stonington Steamship Line, $6,000,000; par $100. with capital of $2,000,000. REORGANIZATION.-Interest on the second mort.,.aae bonds became a In October, 1892, the Housatonic Railway, the New Haven & Derby and the Danbury & Norwalk were leased for 99 years, and their stock tlxed charge in December, 1891, and in March, 1'§9'2, a reorganization plan proposed that the 2nd mortgage 4s be exchanged for a 5 -per cent. exchanged for stock of the New Haven company on certain terms. See V. 55, p. 463, 501; also statements for absorbed companies in SuJ.>- tlrst prererred stock at par for the principal and one year's mterest, dollar for dollar, and the mortgage canceled-the present preferred plement for November, 1892. Consolidation with other leased lines 1s stock to be exchan~ed for second preferred stock. See V. 54, p. 405. pending. See below. In July, 1892, a m8i)ority of second& had assented to terms of exchange. CAPITAL STOCK.-Stock authorized, $50,500,000. It may be issued LATEST EARNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 months). for improvements, buying stocks and bonds of leased roads, &o. gross $276,953, against $239,904 in 1891; net $58,182, against$55,023. On June 1, 1892, $5,000,000 of stock, making the total outstanding $28,375,000, was issued to retire the stock of the N. Y. Providence v..ANNuAL REPORT.-Fiscal year ends J"une 30. Report for 1891-92 in. 55, p. 000, showed gross earnings $521,216; net, $831 623; deficit & Boston. In October, 1892, $799,000 more was authorized to retire the stock of the Housatonic, New Haven & Derby and Danbury & under interest, rentals and taxes, $67;974; paid construction account.. $21,535. In 1890-91, $483,427; net. $90,417. (V. 53, p. 641, '7 52; V. Norwalk railroads. (V. 55, p. 501, 810.) The Boston & N. Y. Air Line, New Haven & Northampton, Naugatuck, Shore Line and Hartford & 54, p. 204,243,405,721; V. 55, p.147,374, 764,803,806; V. 5-5,p. 996.) Conn. Valley stock will also be exchangeil for New Haven stock during New York Ontario & Western,-(See Map.)-Owns Oswego,. January and February, 1893. See those companies, except the last, N. Y., to C0rnwall, N. Y., 272 miles; branches to New Berlin, 22 miles;. which is all owned by the N. Y. N. H. & H. This exchange will call for to Delhi, 17 miles; to Ellenville, 8 miles; total owned, 319 miles; leasesissue of $5,734,000 stock. of which $1,332,300, belongin~to company Randallsville to Utica, 32 miles, and Clinton to Rome, 12 miles; (in peritself, was sold at auction January 14, 1893, at $2~· 7 per share. petuity\ Ontario Carbondale & Scranton Railway, Hancock, N. ~ tov. 55, p. 1035; v. 56, p. 42,127. Bcranton, Pa., 54 miles; Wharton Valley RR., 7 m.; trackage-west DIVIDENDS of 10 per cent paid regularly since consolidation in 1872. Shore RR., Cornwall to Weeb.awken, 53 miles; total operated, 477 miles. ORGANIZATION.-The New York & Oswe,vo Midland was sold in forePRICE OF STOCK-In 1889, 241@279; in 1990, 24412@270; in 1891, closure Nov. 14, 187~. and this company organized. All securities of 22412@271; in 1892, 224@255; in 1893, to Jan. 20, incl., 2561il26212. Ont. Carb. & Scranton Ry. are owned and pledged under the mortgages. PRICE OF 8TOCK.-ln 1889, 1412'@22 7s; in 1890, 131il22:\i.; in 1891,. BONDS -The convertible debentures of 1893 for $15,000,000 are ex• ehangeable at option of bolder "on April 1, 1903, or within 60 days 141il233s; ill 1892, 1712@2318; in 1893 to Jan. 20 inclusive, 181ill9~. thereatter.z and no longer," for company's stock at par. If not then BoNDs.-For consolidated mortgage of 1889 see ab~tract V.49, p. 238 l exohangea they will mature and be paid in cash April 1, 1908. They The refunding mortgage secures $20,000,000 of 4 per cents, of which were offered to stockholders at par, subsoription to be made during $5,500,000 to retire $4,000,000 sixes (paid Sept. 1, '92), $7,000,000 tomonth of March, 1893, payable in instalments of 25 per cent cash retire $5,600,000 consol. 5s, balance for improvements, &o. The mort. on April 1, 1893, Oct. 1, 1893, April 1, 1894 and Oct. 1, 1894, re- covt>rs all the company's property, real and personal, acquired and tospectively. The proceeds will be held as trust fund and disbursed only be acquired; mortgage trustee The Mercantil«, Trust Co. The comfor completion of four tracks on N. Y. division, including Harlem River pany has agreed to redeem the 5 per cent bonds not later tban the branch, for completion of two tracks between New Haven and New year 1899 if practicable without increasing its interest charges. TheLondon, for terminals at Providence, New Haven, New York, etc., tor $6,500,000 of new fours issued entails an additional charge of only $20,equipment, block signals, elminating grade crossings, and for :floating 000 per annum, after making allowance for the saving in interest from debt incurred for above purposes. See V. 55, p. 1035. refunding the first mortgage 6s. See V. 54, p. 444, 683, 721, 954. Under the lease of the N. Y. Providence & Bo ton, the New Haven LATEST EARNINGS.-July 1, 1892, to Nov. 30, 1892 (5 months), gross.. road " assumed" the debt of the Providence road. Of the Providence Co.'s $4,000,000 of general mortgage bonds $1.300,000 can be issued $1,601,476, against $1,426,021 in 1891; net $465,011, against $402,858. For 3 months ending Sept. 30, 1892, total net income was $382,J.18.. only to retire prior bonds at maturity. (See V. 54, p. 964.) agst. $320,181 in 1891; rnterest, taxes, rentals, etc., $207,503, 'fLgst. FINANCES.-On Oct. 1, 1892, the outstanding loans and bills payable $:t00,847; balance, surplus, $174,615, agst. $119,339. were $2,000,000. The Providence Company on Jan. 1, 1892, had out.ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting la.st. standing $1,050,000 bills payable, against which was cash $641,424. Wednesday in September. Report for 1891-92 in V. 55, p. 529, 543. The Housatontc Ry Co. on Oct. 1, 1892, had rolling stock certificates Year ending June 30. 1889·90. 1890-91. 1891-92. due 1899, $200,000; certificates of indebtednbss due 1892 to 1896, 424 424 477 $229,000, and floating debt, $1,106,949. The $3,393,297 received from Miles operated (incl. trackage) $2,809,702 $3,265,417 sale of stock in January, 1893, was to go to payment of :floating debt Gross earnings ................ $2,200,446 Operat'g expenses and taxes. 1,768,042 2,155,372 2,461,136 incurred for improvements, etc. See above and V. 56, p. 127. LATEST EARNINGS.-From July 1, 1892, to Sept. 30, 1892 (3 months), Balance, net earnings.... $432,404 $654,330 $804,281 gross, $4,337,355, against $3,230,264 in 1891 ; n et, $1,751,373, a~ainst $729,330 $879,306, $1,421,502; other income, $76,206, againE<t $26,369; interest, taxes, Total net income.............. $432,404 rentals, etc., $599,000, against $420,000; balance, surplus, $1,228,579, Interest on mortga~e bonds.. 203,000 453,902 507,261 against $1,030,871, ProV1dence road being here included only in 1892. Miscell. interest ana discount 4,212 5,032 Or. 11,55978,750 169,956 176,585 .ANNuAL .REPORT.-Fiscal year ends June 30. Annual meeting is Rentals paid . . . . . . . . . . . . . . . . . . held third Wednesday in October. R eport for 1891·92 was in V. 55, p. 418, 501. In 1891-92 $2,185,052 was spent for betterments. Earn- Balance, surplus.............. $146,442 $100,440 $207,0lQ· ings of the N. Y. Providence & Boston (not included) below were in V. -(V. 53, p. 21, 256, 473, 754, 881; V. 54, p. 289, 444, 597, 683, 721, 55, p. 501, and report of Housatonic Ry. Co. in V. 55, p. 1109: 846,954; v. 55, p. 22,256,374, 529,543,544, 552, 891.) Yr. end. June 30. 1888-89. 1889-90. 1890·91. 1891-92. Gross earnings .. $10,094,487 $10,749,167 $11,3~3,617 $11,913,701 toNew- York Pennsylvania & Ohio.-0wns from Salamanca, N. Y ... Dayton, 0., 388 miles; branches-to Oil City, 34 miles, other Net earnings ..... $3,004,548 $3,369,393 $3,394,715 $3,640,690 branches, 5 miles ; total owned. 427 miles. Leased lines-Cleveland & Other income.. .. 142,383 149,383 188,365 189,238 Mahoning Valley RR., 124 miles; Sharon Railway, 16 miles; New Castle -·--------& Shenango Valley, 17 miles; Youngstown & Austintown Ry., 10 miles; Tot. net income $3,146,931 $3,518,776 $3,583,080 $3,829,928 Westerman RR., 2 miles; total leased, 169 miles; total operated, 596 m~ New York New- Haven & Hartford.-0wns from Woodlawn, N. Y., to Springfield, Mass., 122 miles; branches to New Britain, Middle- town, New Canaan, etc., 27 miles; total owned, 149 miles; leases, and https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis N -~ l3roffbeads'l'.ille NEW YORK, ·RUSQUEHANNA & WESTERN RAILROAD AND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 Porters Lake .o E J.&NUABY, 1898.] RAILROAD STOOKS AND BONDS" IOI Sabacrlber• w1ll con.f'ei' a great l'avor by giving IIDDledlate notice of' any error dl-.covered In theae Table•• RAILROADS Por explanation of column headings, &c., see notes .eta on first page of tables. Wh&-~t, Bondpal INTEREST OR DIVIDENDS. en.uue.. , Amount ,- - - -- - - - - : - - - - - - - - - Miles Date Size, or Outstanding Rate per When Whe:i-e Payable, ani by Stocks-Last Par of of Dividend. Whom. Cent. Payable Road. Bonds Value. York Philadelphia & Norfolk-Stock........... . ... lat mortgage, $16,500 per mile, gold ........... c* 112 Income M., non-cumulative, $10,000 per mile ... r 112 N. Y. Pr011idence cl Boston-SEE NEW YORK ~w H AVEN 7 N . Y.dRockawayBeach-lst M.,g.,end'sed by L. I.c* Income bonds, non•cumulative ................... r ... . N. Y. mts(fl._tehann ,1, Western-Common stock....... . . ,. Preferred stock, 6 per cent cum . .... ............. . Midland RR. of N. J, lstmort., gold ............ c* . 73 Paterson Extension RR. 1st M., real estate, g . . c* 1 N. Y. Sus. & W. 1st M., refdg, g . (2d M on 73 m.) .c* 134 2d mort. ($1,000,000 gold) 3d M. on 73 miles.c* 134 General mortgage for $3,000,000, gold ........ c* 134 N. Y. Texas dJ Mex.-lst. M.,g.,$ or £,gu.by So.Pac.c* 91 Norfolk cl Carolina-1st M. for $1,500,000, gold.c* 110 Norfolk cl Soitthern-Capital stock ................. . 104 1st mortgage, $10,000 per mile, gold ............ o* 104 . .. . Norfolk re Weste1"li-Common stock ...._.............. Pref. stock , 6 per cent, non-cumulative.. . . . . . . . . . . .. . 81 Norf'k&Petersb'g-2dM. (nowlst) Nor.toPet'g.c South Side-Consol. mort., 1st pref., extended .. o 133 Consol. M. 2d pref., gold, extended .. .......... c 133 Consol. 3d pref., Petersburg to Lynch. & br's .. o 133 Virginia & Tenn. enlarged M. {extend in. 1884\ .. o 214 4th M. Lynohb'g to Bri tol and branch, 214 m.o 214 Norf.&West.Gen.M.,NorfolktoBristol.eto. gold.o* 428 New River division 1st mortgage, golct ....... c* 157 Improvement & Extension Mortgage, gold ... o* 586 Adjustment Mort., gold (red. Oot.'94 at 110) .. o* 586 Clinch Valley Div. 1st M., gold, $19,000 p. mo.. 105 Convertible debent'res, subject to call at 100. o.. . ... 100-year mor!~age, $45,000,000, gold .. ~ .... c* 971 Boioto Valley & l'lew England, lstM., assu.m.,g.c* 129 $100 1.000 isss 1,000 ~ft,r TFl~g~O 1883 1~87 .... .... 1880 1881 1887 1887 1890 1882 1889 .... 1891 1868 1868 1868 1868 1854 1866 1881 1882 1883 1884 1887 1884 1889 1889 $1,714,375 1,848,000 1,000,000 . .6. g. 6 J ..&. ·J. Phila., Penn. RR. Office. Jan~. i·,--i923: Oct. 1, 1933; do do J. & J. 772,000 5 g. M. & S. N. Y., CorbinBa.nk'g Co. Sept. 1, 1927" 1,000,000 1,000 Sept. 1, 192'T .......... Jan. 1 5 100 13,000,000 8,000,000 See .text. Various N.Y.,Oi.°ii5CortlandtstNov:fo, ..i892: 100 500&c. 6 g. A. & 0. N. Y., Nat. Park Bank. Apr. 1, 19103,500,000 1,000 6 g. J. & D. N.Y.Of.,15 Cortlandt St. June 1, 1910· 250,000 1,000 5 g. J. & J. N. Y., Nat. Park Bank. Jan. 1, 1937 3,750,000 1,000 412g. F. & A. N.Y.Of.,15 Cortlandt St. Feb. 1 1 1937 636,000 Aug. 1, 1940do do 1,000 5 g. I<'. & .A.. 1,250,000 4 g. A. & 0. N.Y.. S.Pac.Co.:London. Apr. 1, 1912 1,457,500 500 1,000 5 g . A. & 0. N. Y., Central_ Trust Co. Apr. 1, 1939· 1,320,000 100 2,• 00,000 See text. Q.-J. N. Y., Atlant10 Tr. Co. Jan. 10, 1893·May 1, 1941 do do 1,000 5 g. M. & N. 625,000 100 100 4i;g88:888 See ·text. A ..&. ·o. Phila., 333..Wainut St. Oct.:··i892 J. & J. N.Y.,Mero.Tr.Co.&Phil. July 1, 1893 . 1,000 8 496,000 July 1, 1900-· do do 1,000 5 & 6 J. & J. 290,000 July 1, 1900 do do 100 &c. 270,500 5 g. &6 g. J. & J. Jan. '96-1900 do 100 &c. do J. & J. 6 452,800 June 30, 1900· 1,000 do do J. & J. 5 980,000 Moh. 1, 1900· do do J. & J. 1,000 8 1,000,000 May 1, 1931 do do 1,000 6 g. M. & N. 7,283,000 Apr. 1, 1932. do do 1,000 6 g. A. & 0. 2,000,000 Feb. 1, 1934, do do 6 g. F. & A. 5,000,000 1,000 Dec. 1, 1924. do do 1,000 7 g. Q.-M. 1,500,000 June 1, 1957· do do 1,000 5 g. M. & S. 2,500,000 Jan. 15, 1894 do do J15&J15 500 6 525,000 Jan. 1, 1990 • do do 5 g. J. & J. 100 &o, _9,'265,000 Nov. 1, 1989' do do 4 g. M. & N. 5,000,000 1,000 .Ne-w- ~ork Texas & 1'Iex1can.-Owns from Rosenberg to Vio- toria, 91 miles. Stock, $630,040, and Southern Pacific Company owns all but $22,040 of it. 'l'here a re also $60,500 sixes outstanding. IE! operated by the Southern Pacific Co., which guarantees the 4 p.o. bonds. From January 1 to Nov. 30 m 1892 (11 months) gross earnings were· $232,302, against $217,029 1n 1891; neli, $75,653, against $58,123, . In 1891 gross $241,679; net, $69,467; deficit under char~es, $25,097, against $73,971 in 1890. Due Southern Pacific Co., etc., J an. 1, 1892,,.. $562,949. Norfolk & Carollna.-Owns from Norfolk, Va., to Tarboro, N. C. ,,.. 101 milos; branches, 9 miles; trackage to Rocky Mount, 17 miles, Successor to the Chowan & Southern; name changed in 1889. Opened· April 1, 1890, and forms a part of the Atlantic Coast Line system. Stock, $1,500,000; par, $100. In year ending June 30, 1892, . gross earnings were $310,625; operating expenses and taxes, $241,618; net, $69,007; interest on bonds, $66,000; balance, surplus, . $3,006. Norfolk & Southern.-Owns Berkely, Va., to Edenton, N. c., 7 4;. miles; (ferry across .Albemarle Sound to Maokey's Ferry, 9 miles;) thence road to Belle Haven, 30 miles; total road owned, 104 miles;. feny, 9 miles. The Norfolk Southern was sold in foreclosure April 29, 1891, and reorganized as now after consolidation with the .Albemarle & Pantego RR. Co. Receiver discharged June 1, 1891. Paid first dividend {l per cent), in July, 1 8 92 ; in October, 1 per cent; in l893, Jan., 1 percent. From Jan.1 to Nov. 30, 1892 (11 months), gross earnings were $393,030; net, $143,521. President, Watson B. Dickerman, 74 Broad• C • Tr t • ust 0 ,-(V. 49, P• 719 ;: way, N. Y.; RegiS tr ar of Securities, A lantic V. 50, p. 771; V. 52, p. 463,681; V. 54, p. 444, 889.) Norfolk & Western.-(See Maps.J-Owns from Norfolk, Va., t,o. Ne-w- York Philadelphia & Norfolk.-Operates from Delmar, Bristol, 408 miles; branches, 36 miles; New River Division Del., t.o Cape Charles, Va., 95 miles, and King's Creek, Md., to Crisfield; [Radford to Powhatan, 83 miles; Cripple Creek Extension, 46: 17 miles; total, 112 mile . Successor of the Peninsula Railroad Com- miles; other, 44 miles], 173 miles; Clinch Valley Division, Graham te>pany of Virizinia. Has traffic contract till January, 1895, with Penn• Norton, Va., and branche , 107 miles; Kenova to Columbus, O. (forsylva.nia Railroad, which company sets aside 10 per cent gross earnin~s merly the Scioto Valley & New Eng. RR.) 137 miles; Maryland & Wash to purchase 1st mortgage coupons. See V. 47, p. 807. There is a six ington Division, Hagerstown, Md., to Roanoke, Va.. 238 miles, andi branches 21 miles. Total operated January 1, 1892, 1,120 miles•. per cent bottomry mortgage for $225,000, due January 1, 1895. From Jan. 1 to June 30, 1892 (6 month ), gross earning were $404,- Ohio Extension, to Kenova on the Ohio River and branches, 184 miles•. 576, against $408,392 in 1891; net, $88,913, against $77,359. In 1891 On March 1, 1892, began operating Lynchburg & Durham RR., Lynchgross earnings were ~788,430; net, $155,739, against $165,545 in 1890. burg, Va., to Durham, N. C., 114 miles, and the Roanoke & Southern, RR., extending from Roanoke, Va., to Winston, N. C., 122 miles, making 1,540 miles in system March 1, 1892, of which Ohio ExtenNe-w York Providence & Boston.-See N · Y · N · H · & H ART. N e-w- York & Kocka-way Beach.-Ow-ns from Glen 'lale Junction sion, 184 miles, then under construction, was completed Sept. 27,.. to Rockaway :Park, with branch, 12 miles; trackage to L. I. City, Brook- 1892. ORGANIZATION, ETC.-The Atlantic Mississippi & Ohio Railroad Com-lyn, Far Rockaway, etc., 18 miles; total operated, 30 llllles. Stock authori.2:ed and outstanding, $1,000,000; par, $100. Controlled by Long pany was a consolidation of Norfolk & Petersburg, South Side and the Island Railroad Company, whose endorsement is printed on tirst mort• Virginia & Tennessee roads; it was foreclosed February 10, 1881, and. gage bonds. {Formerly New York Woodhaven & Rockaway.) In year was reorganized as the Norfolk & Western. In June, 1890, purchased the Scioto Valley & New England Railroad ending June 30, 1892, gross earnings were $238,314; net, $46,671; interest, $38,600; rentals, etc., $1,583; balance, surplus, $6,487, agst. (formerly Scioto Valley). Now that ·the Ohio Extension is completed: this road affords a through line to Columbus, O. The Shenandoah Valley $8,463 in 1890-91. (V. 53, p. 568; V. 55. p. 5 43.) RR. was purchased ali foreclosure sale Sept. 30, 1890, and became th& Ne-w York Susquehanna & Western.-(See Map.J-Jersey City Maryland & Washington Division. The connection with the Louisville· to Gravel Place, Penn., 101 miles; Two Bridges, N. J., to Unionville, & Nashville was completed in June, 1 891. See V. 54, p. 601. CAPITAL STOCK.-Preferred srook is entitled to 6 per cent nonN. Y., 21 miles; other branches, 12 miles; leases-Middletown Union• ville & Water Gap RR. (which see), Unionville, N. Y., to Middletown, cumulative. In April, 1892, the company voted to issue 100,000' 3 of preferred stock, making the liolial $50,000,000, of which not shares miles; City Jersey in trackage Railroad N. Y ., 14 miles; Pennsylvania small branches, 6 miles; total, 157 miles. Consolidation in June, 1881, more than 50,000 was liO be issued during 1892; of this $3,000,000 0th 1n September, 1892, by a syndicate in accordance with a taken was er railroads. of the Midland of New Jersey and DIVIDENDS.-The preferred stock is cumulative 6 per cent, and the previous contract at 47. The proceeds were applied towards the comfirst dividend (114 per cent) was paid in October, 1891; in 1892, May, pletion of the Ohio Extension. The sale of any further shares has forpaid 114; November, 114. The accumulated dividends unpaid amount• the present been abandoned. See v. 55, p. 544. .DIVIDENDS on preferred stock-In 1882, 4 per cent: in 1884, 3¼ 1n ed to 55 per cent 1n July, 1892. See V. 55, P• 147 BoNDs.-The general mortgage 5s of 1890, for $3,000,000, were scrip; in 1888, 112; in 1889, 3; in 1890, 3; in 1891, 3; in 1892, April, l½t; authorized for new equipment, double-tracking, etc., $1,000,000 being October, 1 per cent in scrip, convertible into 5 per cent debenturereserved to retire the same amount of second mortgage bonas of 1887. bonds. PRICE OF ST0CK.-Common in 1883, 101il18; in 1884, 10@1212; in See mortgage ab str act, V. 52 , p. 84· The New Jersey Midand junior securities were exchan1?eable into 1885 , 8 @1378; in 1886 , 8 w2 7 ¾; in 1887 , 131il233s; in 1888, 1518@23¼; stock of this company on certain terms, and have mostly been so in 1889 • 1414 w 2218 ; in l890, l31il24 78 ; in 1891, 13@18¾; m 1892•. exchanged. There are also $6,000 old firsts of 1911 and $93,i50u 9 @18 ; in 1893 to Jan. 20, inclusive, 9121il9¾, Price of preferred stock-In 1883, 32@4934; in 1884, 17@42; in 1885,.. debentures of 1897 outstandinl!, besides $75,000 Passaic & N. Y. RR. 6s, due 1910 (int. J & D); interest is guaranteed under 999 year lease. 14 '@ 3412 ; in 1886, 25@593s; in 1887, 3412@557s; in 1888, 41~@5858; in LA.TEST EARNINGS.-From Jan. I to Nov. 30, 1892 (11 months), gross 1889, 4712@6134; in 1890, 481il663s; in 1891, 4612@57½1; in 1892, $1,595,362, against $1,521,493 in 1891; net, $719,104, against$685,565. 3714@56; in 1893 to Jan. 20, inclusive, 37@38. BoNDs.-Abstraot of Clinch Valley mortgage {Fidelity Insurance Trustt ANNUAL REPORT.-Report for 1891 was in V. 54, p. 365. & Sate Deposit Company of Philadelphia, trustee) in V. 45, p. 541; the l889. 1890_ 189 1. 189 8 _ exclusive of $500,000 for equipment, is at $19,000 per mile. issue, The 100-year mortgage of 1889 {trustee Mercantile Trusli Co.) provides . ,9 oo $ 1 ,402 ,466 $ 1 , 592 , 08 3 $ 1 •6 5 6 , 5 22 Gross earnings.•········· $ l, 445 5 ,9 1 0 $ 551 , 438 $ 670, 946 $7l 6 , 455 for the issue of $20,000,000 bonds, plus additional amounts not exceed- Net earnings.· · ··· · · · · · · · $ 5 925 33 ,5 27 3 o, 4 ol 3 o,o5 i ing $25,000,000 to redeem by purchase or exchange (provided no in,8 2 8 Other income.•··········· crease in interest charge~ be thereby created) prior bonds on the 699· 746 2 347 701 965 5 $ $ $ $ , 505 miles built and under construction, which prior bonds must not be in, 84, 6 1,738 Total.··········-······ lnterest on bonds........ $441,120 $441,120 $445,459 $469,586 creased to exceed $22,825,000 in all. .All have the same lien andprivi26,446 le~.e and are equally sec1:1red, though issued for different purposes. A 26,446 26,491 26,497 Rentals ...... ·-··········· 14,993 full abstract of this mortgage was in the CHRONICLE, V. 50, p. ~08. 25,776 12,955 2,699 Miscellaneous............. The Scioto Valley & New England mortgage {trustee Central Trust. 100,000 ..... . ...... . ..... Dividends ...... ...... . .. -. Company) has been limited to $5,000,000, each bond being stamped Total disbursements. $470,318 $480,567 $497,681 $611,025 with a statement signed by the Secretary of the NodGlk & Western,. Balance, surplus.... .. .. . $151,420 $104,398 $203,6~6 $135,480 certifying that this company "has assumed and covenanted to pay the, . principal and interest of this bond.'' See V. 50, p. 452. •-(V. 52, p. 84, 349, V. 54, p, 243, 365, 889, V. 55, p. 147,) ORGANIZATION.-Formerly Atlantic &Great Western Ry. Foreclosed July 1, 1871, and again Jan. 6, 1880; reorganized, and again leased to Erie for 99 years from May 1, 1883. Five trustees exercise the voting power of stock until the third mortgage bonds receive 7 per cent interest in cash during three years. STOCK.-Stook is $44 , 999 , 350-par $ 50· LEASE.-Rental is 32 percent of all gross earnings until these reach $6,000,000, and this proportion decreases by 1-10 of 1 per cent for each $100,000 of gross earnings above $6,000,000 until the gross earnings or exceed $9,000,000, the rental are $8,000,000. If earnings equal shall be 28 per cent. But if 3 2 11 er cent of th e gross earnings should ever be less than a speci.fied minimum sum of $ 1 ,757, 055 to be faid yearly, then the deficit is tg be made up without interest out o the excess in any subsequent year. See V. 49 , p. 7 9 3 BONDS.-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 in bonds of the same class; payment of interest to become absolute not later than July 1, 1895, and until July 1, 1895, the right to foreclose the mortgage is suspended. On the second Itnd third mortgages there is no right to sue the company or to foreclose. ANNUAL REPORT.--In year 1891-92 gross earnings $7 ,262,386, against $ 7 ,151 , 265 in l890-91. Rental received $2,236,8l3; oliher income, 44,767,· total income, $2,281,582; taxes, etc., $143,370; rentals and d $480 000 ddi . 1· ; a , other charges, $868,005; interest on prior ien bon s, tions and betterments, $116,S97; dividends on first mortgage bonds, $693,785; deficit for year, $20,575; total surplus, Sept. 30, 1892, $95,6 77 . {V. 53, p. 604; v. 54, p. 721.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C OF THE & WESTERN CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MINERAL 101 INVESTORS' SUPPLEMENT. IV-oL. LVf., Sub11erlber11 will conCer a g r eat f"avor by giving Immediate notice of" any error discovered In the•e Tatile11. RAILROADS. INTEREST OR DIVIDENDS. Bonds-Pnnct- - - - - - - - - - -- - - - - - - - - - 1 Miles Date Bize,or Amount 1 - - - - - - - - - - - - - - - - - 1 p a l , W henDue•. For explanation of column headings, &c., see notes of of Par Outstanding Rate pe1· When Where Payable, and b-y Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend.. - - - - - ----,-----·•---- ----1--- - - - - - - - -1- - - - - - Norfolk ~ Western-( Concluded.)Norf. & West.-lstM. Maryland & Wash Div.,g.c* 255 1891 $500&c. $7,050,000 5 g. J. & J. N. Y.,Mer. Tr.Co. & Phil. Jan. 1, 1941' Deb. ($430,000) for dividend (subject to call)... .... 1892 500 (1) 5 A. & 0. do do ·oct: 1, 1912' Collateral loan................................... .... 1891 .... 2,000,000 6 ..... do do Dec. 31, 1893: Equipment M., 10-20s, g.,dr'n atlOO aft.May,'98 .. .. 1888 1,000 4,279,000 5 g. J. & D. do do June 1, 1908· Car trust, principal and interest................. .... .... Various 386,779 --,;·g. Q....:.:J·. NewdoYork & Pdhilo. a. 1Apr.·•o·3..to..o·c·10=· Gold car trusts, guar. by RR. Eqmpment Co .. c .... 1892 1,000 877,000 v v,Roanoke & So. lstM.,g.,$15,000p. m., gu.p.&i.c* 122 1892 1,000 2,041,000 5 g. M. & S. do do Mch. 1, 1922" Equip. trust, $210,000, guar. p.&i. by N. & W.c* .. . . 1891 1,000 106,000 6 J. & D. Balt., Mer. Tr.&Dep.Co. $21,000Dec.1.. North varolina-St-0ck, 6 p. c. till 1901, Rich. & D. 2 2 3 .... 100 4,000,000 6 per an. M. & S. Burlington, N. C. Sept. 1, 1892 NorthPacijicOoast-lstM.,gold,sub.tocalla.tlOO.c 76 1881 1,000 590,000 6 g. M. & N. San Francisco. Nov. 1, 1901 General M. for $1,500,000, gold ................. c 91 1892 1,000 750,000 5 g. J. & .r. S. Fr.Oal.Sfe. Dep.&Tr. Jan. 1, 1912" 1st mort. North Pacllic OoastExtensionOo.,gol<l.c 5 1883 1,000 150,000 5 g. J. & J. do do Overdue. No. Penn.-Stock, 8 p. c. guar.990 yrs.,Pllil. & Read. 86 .. .. 50 4,720,750 8 per an. Q.-F. Phila. Of., 240 So. 3d St. Feb. 25, 1893.: 2d mortgage........................................ 5 6 1866 500 &c. 1,500,000 7 l\I. & N. do do May 1, 1896 General mort~age bonds ....................... c&r .... 4,500,000 7 J. & J. do do Jan. 1, 1903, 8 6 1873 Bonds secm·ea by $1,200,000 stock .............. r .. .. 1881 .. .. 1,200,000 6 M. & 8 . do do Sept. 1, 1905 No.~ So. of Ill.-lstl\I.for $600,000 ($10,000p.m.)g. .. .. 1890 1,000 5 g. .. .. . .... .. .. .. 1940 Northeastern ( S. O.J-Stock.......................... .. .. .. .. 50 900,000 6 per an. J. & J. Charleston, Office. Jan. 3, 189~ 1st mortgage, -provided for by consol. mortgage. c 102 1869 500 820,000 8 IM. & S. do do Sept. 1, 1899· 2d mortgage, provided for by consol. mortgage.c 102 1860 500 322,000 8 M. & S. do do Sept. 1, 1899' Consol. mortgage, (for $1,836,000) gold ......... c 102 1883 1,000 694,000 6 g. J. & J. N. Y., Cuyler, Morgan. Jan. 1, 1933 Northern, (N. H.J-Stock, 5 p.c.rental till July,1897 83 100 2,997,300 6 per an. Q.-J. Bost.,Oonc'dor Leban'n Jan. 1, 1893 Northern California-1st mortgage................. 54 i889 .... 945,000 5 J. & D. N. Y.,So.Pac.,23Broad June 1, 1929 1 Northern Oentmi-stock ($8,000,000 authorized) . . . . . .... 50 7,518,150 See text. J'. & J. Balt.&Phil.,233 S.4thSt. Jan. 16, 1893. 1st mortgage, State of Maryland loan.... . . . . . . . . 138 ... . .... 1,500,000 6 Q.-J. Annapolis. Irredeemable. 2d mortgage ..................... ................. c* 138 1865 500 &c. 1,126,000 6 A. & 0. Baltimore &Philadelp'a July 1, 1900 Consolidated mortgage, gold...................... c 138 1868 1,000 2,599,000 6 g. J. & J. Baltimore, Treas. Office. July 1, 1900 Consol. mortgage, gold ........................... r 138 1868 1,000 205,000 6 g. A. & O. do do July 1, 1900 Consol. gen. M., g.,s.f.,drawnat 100, $or£A&B.c 138 1874-5 1,000 1,835,000 6 g. J. & J. London and Baltimore. July 1, 1904 j_o do gold,$, C & D .............. c 138 1876-7 1,000 2,000,000 6 g . J. & J. Baltimore, Treas. Office. July 1, 1904 do do gold, E .................... c 138 1885 1,000 1,400,000 412g. A. & 0. do do Apr. 1, 1925 _2_d---"-g_en_.m_o_rt_._,_s_er_i_e_s_"_A_'_'_(s_._f_._$_3_0_,o_o_o_y_e_a_rl_y_)_ . c_*__1_3_8__1_8_7_6__1_,_000 _ _ _2_,_64_8_,'-o_o_o___5_---'_J_.& J. do do Jan. 1, 1926 m Of the Maryland & Washington Divieion mortgage for $10,000,000 $2,500,000 bonds were reserved to extend the line to Washington, D. C., and $1,000,000 for other purposes. See abstr11,ct V. 54, p. 20-t. The collateral loan tor $2,000,000 was obtained, by pledge of 100 year mortgage bonds, for construction and improvement purposes. It fs payable in ~wo years or eflrlier under favorable conditions to the company. See V. 54, p. 600. The gold car trusts for $900,000 were issued in 1892, each being in· dorsed with a guaranty of principal and interest by the Railroad Equipment Company. These car trusts are not subject to call before maturity, but fall due in forty quarterly instalment3 of about $23,000 each, beginning Jan. 1, 1893. The equipment mortgage of 1892 has been limited to $900,000, and all the bonds deposited as security for the present gold car trusts. . Roanoke & Southern bonds for $2,041,000 were guaranteed m Febru• ary, 1892-see that company and V. 54, p. 601. FINANCES.-The strength of this company has been in its local business. The mineral section traversed by the line is shown by a special map on an adjoining page. The Ohio extension, 184 miles, was completed in September, 1892, affording direct communication by the company's own line to Columbus, Ohio. and thence by connecting roads to Chicago. During 1892 prior to Sept. 1 $1,600,000 of the 100· year fives were issued._ . · The October, 18_92, divH).end on th~ pr~ferred stock was reduced to 1 per cent a~d paid m ~ci:1p convertible rnto debenture boJ?.d8, the net income applicable to d1v1dends for the twelve month~ endmg June 30, 189~, which equa.le~ 234 per cent_ on the stock, haymg been largely apphe~ to-con~tructi~n. See V. 5.:>, p. 544, also earnmg8 below. . President Kimball II?- September, 11392, 8ta,ted that no furttier l,1!'rge 1ssu_e of bonds ~or capital purposes w.iis. contemplated ~nd that the capital expenditures after thecl~se or this yfla~ (1892) will_b~ contl'!led to such moderate annual expenditures for eqmpment, add1t1onal side• tracks, douli>le·tracking an<l terminal facilities as the annually increasing traffic will necessitate, from which ample returns may be ex• pected." See v. 55, p. 523. E J t N (ll th ) $ L ATES~ ARNINGS.- a~. 1 o ov. 30 , 1892 mon . s , gro~s, · 9 ,048 , ,870, agamst $8,396,28~ m 1891; net, $2,694,816, agamst $2,.105,?03.. ANNUAL REPORT.-F1scal year ends De~. 31. Annual meetmg is held at R_oano];e, Va., on first Wednesday m May. Report for 1~91 was published m the CHRONICLE, y. 54, P. _596, 599. (See also p. 582. l The stateipent for 1891-92 below 1s an o.fficial report for the year ending June 30, 1892, but the fl.seal year still ends as heretofore Dec. 31. . 1889. 1890. 1891. 1891-2; Average miles ~perated. 591 _ 826 1,091 1,186 Passenger earnmgs...... $940,30.:> $1,612,260 $1,819,593 $........ Freight earnings ........ 4,417,315 5,636,218 6,980,130 Mail, express, &c........ 239,505 313,438 388,319 Total gross earnings .... . $5,597,125 $7,561,915 $9,188,042 $9,494,411 ()per. expen. (incl. taxes). 3,483,352 4,838,610 6,009,767 6,388,028 Netearnings .............. $2,113,773 $2,723,305 $3,178,275 $3,106,383 P. o. of op. ex. to earn'g-s. 62·00 64·00 65·41 -Ineome from invest., &c. $144,148 $233,919 $156,645 $209,881 From Shen. Valley fund t .. .. .. .. .. .. . . . . 135,000 135,000 Total net income ....... $2,257,921 $2,957,225 $3,469,920 $3,451,264 Interest on bonds, &c.... 1,451,265 1,814,008 2,266,130 2,333,223 :Rentals Lynch. &Dur... ........ . ...... ·. ........ 19,960 Dividend on pref. stock .. (3)660,000 (3)735,000(3)1,072,500 *1,030,000 :Mis@ellaneous ............ 41,609 88,607 Total disbursem'ts ... $2,152,874 $2,637,615 $3,338,630 $3,383,183 B11,lance, surplus.......... $105,047 $319,610 $la,290 $68,081 ~ i d e n d 212 per cent, of which 1 per cent in scrip convertible into bonds. t Derived from a special fund of $270,000 created under agreement with the Shenandoah Valley. -(V. 53, p. 126, 326, 370, 604, 922 ; V. 54, p. 159, 203, 204, 288, 404, 405, 58:l, 596, 599, 845, 887, 965; v. 55, p. 100, 463, 544, 639.) North Oarolina.-Owns from Goldsboro to Charlotte, N. C., 223 miles. Leased September 11, 1871, to the Richmond & Danville for 30 years at $260,000 per year. Dividends of 6 per cent are paid on the stook, of"' hich the State of North Carolina holds $3,000,000, and the dividends t11W1 .received by the State are applied to her bonds issued to the North Ca1uuna Railroad. North Hudson County.-SEE "MISCELLANEOUS COMPANIES." · North Pacific Coast (Narrow Gauo-e).-Owns San Francisco to Cazadero, 87 miles; branches to San Rafael and Mill Valley1 4 miles; leases to San Quentin, 3 miles ; total operated, 94 miles, mcluding ferry to San Francisco, 6 milP-s; also has ferry to San Quentin, 11 miles. April, 1892, sold to W. Graves and general m1trtgage issued for $1,500,000 to retire old bonds, for extensions, new steamers, etc. Stock auth• orized, $3,000,000; outstanding, $2,500,000; par, $100. ln 1891 gross, $418,416; net, $118,360; other income, $22,054; interest, taxes, etc., $77,255; equipment, $44,133; permanent improvement, etc., $29,024. Xorth Pennsylvania.-Owns from Philadelphia., Pa., to Bethlehem, Pa., 56 miles; branches to Delaware River, &c., 30 miles. The Northeast Pennsylvania and the Stony Creek roads are operated under c,ontract. Leased for 990 years to Phila. & Reading at 8 p. c . •on stock. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I fl.eld, North & South oC Illinois.-Owns from Springfield to Litch Ill., 43 miles. and from Litchfield to Mount Olive. 7 miles The St. Louis & Chicago defaulted on January, 1889, coupon •. and foreclosure sale of main line was made October 4, 1889, and oi the branch February 5, 1890. Litigation having been pending the receiver has not. heen discharged . In December, 1892, a. refereereported to the Supreme Court of Ulinois that the reorganization committee was entitJ.t)(l to $648,510. In September, 1890, road was leased tothe Chicago Peoria & St. Lows at $40,000 per annum, lease to last during the receivership. See V. 51, p. 830. Stock-Common, $1,500,000; preferred, $1,300,000, entitled to 5 per cent non•cumulative dividends-. if earned. Gerald L. Hoyt, President. (V. 50, p. 72, 207, 245, 314,. 377; V. 51, p. 425, 494, 830; V. 52, p. 239.) Northeastern (S. C.)-Owns from Charleston, 8. C., to Florenc0p,. s. c., 102 miles; leases jointly, Lane, s. c., to Sumter, s. o., 38 miles; total operated, 14.0 miles. Of consolidated mort(J'age $1,142,000 was , held to retire debts of prior lien. Stock, $90o',ooo; par, $50. In. year ending June 30, 1892, gross earnings were $659,256 (against, $734,642 in 1890·91); net, $158,845; net including other income, $194,289; interest paid, $133,000; dividends (6 per cent), $54,000; balance surplus, $7,289; total surplus June 30, 1892, $194,744. (V. 53, 9~1; V. 55, p. 461, I 034.) Northern (Ne,v Hampshire).-Owns from Concord, N. H., to· West Lebanon, N. H., 70 miles; branch, Franklin, N. H., to Bristo~. N. H., 13 miles; total, 83 miles. A lease to Boston & Lowell for 99'• years from January 1, 1890, was ratified in December, 1889, and then assigned to Boston & Maine, rental being 5 per cent on stock till July 1, 1897, and 6 per cent thereafter, payable in gold. In addition to the 5per cent dividends provided for by the lease, an extra 1 per oent per annum has been paid regularly from the contingent fund, which on, May 1 1891 amounted to $369,053. See v. 53 p. 95. ' ' . ', . . N orthe.rn Californt3:.-0wns from Kmght s Landing to Oroville C.a.l., 54 miles; com:pleted m December, 1!;!90. Leas,ed to l:!outhern Pa01lic Company,. which owns $1,277,500 of the $~,280,000 stock. ~n 1891 gross earnmg were $95,824; net, $8,333, agamst $20,362; defl.ci~ under charges, $46,G28. Northern Central.-Owns from Baltimore, Md., to Sunbury, Pa.,. 137 miles; branch-Hollins to Green Spring Junction ,9 miles; leasesShamokin Valley & Pottsville Railroad, 30 miles; Elmira & Williamsport Railroad, 76miles; operates at cost-Elmira & Lakes Ontario Rail-· road, 100 miles; summit Branch Railroad, 20 mile; Pennsylvania, Railroad, 3 miles; total operated, 375 miles. Also uses New York Lake Erie & Western tracks, 7 miles, and Philadelphia & Erie tracks between Sunbury and Lewisport, 40 m., and owns Union RR., 9 miles., Th' i·d t· f d · 0 RGANIZA.TION.- 1s wa.s ~ conso 1 l1; 10n o severa1 roa s m 1854. Controlled by the Pennsylvanm RR., which owns $3,488,950 stock. SECURITIES OWNED-Company guaranteed certain Allegheny Valley· securities (see that company}, and in 1892 received certain seeurities •. (V. 54, p. 327.) On Jan. l, 1892, company also owne<l the following: Baltimore & Potomac stock, $622,850; Elmira & Lake Ontario stock \all), $1,500,000; Shamokin Valley & Pottsville stoclr, $619,400; Union RR. stock (all), $1,200,000, etc. The income from investments in 189·1 was $303,989, of which $240,000 was from dividends on Union RR. LIABILITIES-Mortgages and ground rents on January 1, 1892, were, $319,830; "other liabilities" excluding interest, etc.,accrued, pay•rolls, etc., were $1,188,175. DIVIDENDS paid since 1882-From 1883 to 1886 inclusive, 8; in,. 1887, 8 and 10 stock; in 1888, 7; in 1889. 8; in 1890, 8 p. c.; in 1891,.. 7 p. c.; in 1892, Jan., 4 p. c.; July, 3 p. c.; in 1893, Jan., 5 p. c. LATE'-T EARNINGS.-Jan. 1 to Nov. 30, 1892 (11 months), gross, $6,554,673, a€{ainst $6,i06,971 in 1891; net, $1,904,966, against.. $1,894,442. ANNUAL REPORT.-Fiscal year ends Dec. 31. Report for 1891, in 54, p. 327, showed the following: 1888. 1889. 1890. 1891. Gross earnings ........ $6,203,394 $6,069,956 $6,608,797 $6,820,568,Net earnings.......... 2,109,821 1,944,356 1,687,038 1,903,346; Other receipts......... 251,125 307,628 522,951 377,181. v .. Total income ........ $2,417,449 $2,447,728 $2,209,989 $2,280,527 Rentals, &c............ 470,706 464,870 475,572 440,461. Interest on debt....... 926,505 931,481 924,039 914,001 Dividends .............. (8) 571,966 (8) 571,975 (7) 526,260 (7) 526,263 : Miscellaneous . . . . . . . . . 79,495 293,828 226,654 229,558 • Tot'l disbursements. $2,048,672 $2,262,155 $2,152,526 $2,110,283Balance, ,surplus.... $368,776 $185,573 $57,462J $170,244.. -(V. 50, p. 311, 519; V. 52, p. 462; Y. 54, p. 327, 844.) Northern oCNew .Jersey.-Owns from Bergen, N. J., to Sparkill, N. J., 21 miles; leases Sparkill to Nyack, 5 miles; total operated, 26-· miles. By contr'.lct of April, 1869, it is operated by New York Lake · Erie & Western at 35 per cent of its gross earnings and 11.ve fifty-sixths of the balance. It is understood the oontract is terminable by either party on notice. The stock is $1,000,000; par, $100. In Jan., 1893,... dividend ot 2 per cent was paid. In 1891-92 rental received was. $129,8::J5 ; net over expenses, $93,765; interest, rentals and taxes $55,237; dividends (4 per cent), $40,000; balance, defioit, $1,472.. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF rrHE NORTHERN PACIFIC RAILROAD, SUPPLEMENT. [VOL. LVL Sub ■crlber• "Wfil confer a great favor by giving luunedlate notice of any error discovered In these Tables. BMtds-Prinel INTEREST OR DIVIDENDS. R.A.ILRO.A.DS. Miles Date Size, or Du& A.mount Rate per When Where P~able, and by pal,When Par Outstanding of Stocks-La.st F or explanation of column headings, &c., see notes of Cent. Payable om. on first page of tables. Road. Bonds Value. Dividend. --- 138 1876 $1,000 Union RR.,lst(ass'd)$117,000 end. baBalt.City.c* 9 '67-'70 500 &c. 1,000 2d mortgaje (assumed)$ or£, gol ............ c 9 1873 21 1887 lO0&c. North. of New. ersi-3dM.,nowlst(for$700,000).c ........ 100 Northern Pacific- ommon stock .. ................. ...... 100 Preferred stock (8 per cent, not cumulative) ...... ....... ---let M. and ld. gr. Missouri Div., dr'n at par.c*&r 205 1879 100 &c. lstM. andld. gr. P. d'Or. Div.,drawnatpar.c*&r 225 1879 100 &c. Gen.lstM. ld. gr.,!_-• $25,000'p. m.,dr. atll0c*&I 2,146 1881 1,000&c Gen. 2d mort., gol ,land irrant, dr'n atll0 .. . c*&r 2,146 1883 1,000&c Gen. 3d mort., gold, sinkint fund, not drawn.c*&r 2,146 1887 I,000&c Consol mortM:Ne for $160, 00,000, ~old ..... c*&r 3,47611890 1,000&c Dividend ce · cates, ext'd in '88, re . after 189~ .... 1888 500 &o. Trust equipment ....................... . ........... .... 1888 ---One year notes, secured by consols, etc ............ .... 1892 James Riv. Val. RR. 1st M., gold, guar., s. f .... c+ 64 1886 1:000 39 1886 500 Coeur d'Alene 1st mortga~e, gold .............. c" 1,000 49 1888 Gen. M., $25,000 p. m., go d, f<uar., sink. fund.c* Spokane & Palouse 1st M., god, guar., s. f ..... c* 110 1886 1,000 Duluth & Manitoba 1st M., gold, guar., s. f ..... c* 110 1886 1,000 1,000 96 1887 Dakota extension 1st mort~ge, gold, guarf s.f. 1,000 Helena & Red Mountain 1st ., g., guar., s. . . c* 17 1887 No. Pac. & Montana 1st M., g.,gu.s.f.notdr'n.c*&r 225 1888 l,000&c I,00O&c Cent. Wash. RR. 1st M., gold, guar., sink. fd . . c*&r 108 1888 1,000 Seattle Lake 8. & East.1st M.,Jold,£ar ...... .o* 227 1886 1,000 Nor. Pac. & ManitobaTermin 1st .,g., gu.,s.f .. ...... 1890 NorthernPac.Ter. Oo.-IstM., gold, red., atll0 . .. c• 1,000 1883 1,000 Northern Railway (Oal.)-Ist M., int. guar., goM. .. 1877 1,000 Consol. M. ($21,000,000),gold,lstM.on 197m.c*&r 386 1888 '6on»ich ti: Worcester-Pref. stock, 8 p. c. rental .... 100 66 1st M., principal and int. guar. by N. Y. & N. E.c* 1,000 66 i877 llorthern Oentral,-(Ooncl.)-2dgen. M.~ series B .. c i¥o DIVIDENDS.-From 1884 to Jan., 1893, inclusive 3 to 4 per cent yearly. v. 55, p. 461.) Northern Paclfic.-(See Map.)-LINE OF ROAD-Main line-Ashland, Wis., to Portland and Walluia Junction, Ore., 2~!37 miles; Duluth to Northern Pacific.Junction (lg interest), 24 miles; .Northern Pacific & Manitoba (connectin&" with Canadian Pacific at Winnipeg and Brandon), 264 miles ; various other lines and branches, 875 miles. Total owned, 3,354 miles. Leases-St. Paul & Northern Pacific, Brainerd to St. Paul, and branches, 182 miles; trackage-St. Paul Minneapolis & Manitoba, St. Paul to Minneapolis, 12 miles; Minneapolis Union terminals, 3 miles ; other lines, 3 miles ; total, 18 miles. The Northern Pacific also operates the following roads and guarantees a certain rental, sufficient to pay interest and sinking funds:. From To Miles. James River Valley ........... Jamestown, Dak . .. Oakes, Dak ....... 64 Duluth & Manitoba............ WinnipegJc.,Minn.GrandForks,Dak.109 " " " Dak. Div .. Grand Forks. Dak .. Int'lB'ndary,Dak. 97 Spokane & Palouse ............ Marshall.Jc., Wash.Genesee,Idaho,&c.149 Helena & Red Mountain ...... Helena, Mont ....... Rimini, Mont ..... 17 Northern Pac. & Montana ..... Numerous lines ... ..................... 354 Central Washington ........... Cheney, Wash ...... Grand Coulee ..... 109 Also operates the lines of the Wisconsin Central Comr,any (which see), making ~and total July 1, 1892. 5,262 miles. In addition owns a controlling mterest in the Seattle Lake Shore & Eastern, 246 miles, connecting with the Canadian Pacific. HISTORY, ETc.-This company was chartered by act of Congress July 2, 1864. The road opened, 450 miles, to Bismarck, was foreclosed Aug. 12, 1875, and reorganized September 29, 1875. The Chicago & Northerr Pacific, with its large terminals at Chicago, is subleased from the Wiseonsin Central and interest on its bonds guaranteed. The Chicago & Calumet Terminal Railway has also been acquired, all its stock and bonds being held by the Northern Pacific in the interest of the Chicago Terminal System. See Chicago & Northern Pacific. The Baltimore & Ohio Railroad made a contract to use terminals from December I, 1891, paying an annual rental therefor. The entire capital stock of the St. Paul & Northern Pacific is now owned-see that company. CAPITAL STOCK.-The preferred stock has a preference for 8 per cent in each year if earned, but is not cumulative. The common stock then takes 8 per cent, and after that both share pro rata. The preferred stock's claim on net income is subject to expenditures for new equipment. Preferred stock is received in payment for company's lands east of Missouri River at part and the proceeds of the land sold go to its retirement. The preferreu stock has thus been reduced from $51,000,000 t,o the present figure. The back surplus due the preferred stock by way of dividends (i.e., for dividends earned but not distributed, unearned dividends not being cumulative) amounted on June 30, 1892, to $2,844,429, invested in consolidated bonds of the par value of $3,347,000. In October, 1892, the preferred stockholders voted not to sell these bonds. which are held by the Farmers' Loan & Trust Company, until they reach 90. See V. 54, p. 679. In August, 1892, the preferred stock assets included the following: $3,347,000 console, equal at 70 to $2,342,900; land notes secured on lands sold to actual settlers and worth par $817,258; land in Minnel!lota, a.bout 1,200,000 acres, and land in North Dakota, about 1,800,· 000 acres, in all about 3,000,000 acres, worth, at a low average, according to the Land Commissioner, $4 per acre, or $12,000,000. In May, 1892, the com~any suspended quarterly cash dividends on the preferred stock, passmg the dividend due in July. DIVIDENDS on preferred.-In 1883, 11 t 10; from 1884 to 1889 Inclusive, nil; in 1890 and 1891, each 4; in 1892, Jan., 1; April, 1; since, none. PRICE OF STOCK.-Commonin 1885, 15'@3114; in 1886, 22@313e; in 1887, 20@3411s; in 1888, 19 7 s'iv2934; in 1889, 25@363e; in 1890, 1634 @3912; in 1891, 2018-W30 7s; in 1892, 151i>2612; in 1893 to Jan. 20, inclusive, 161i>l 734. Preferred stock-In 1885, 361g@653e; in 1886, 53121i>6612; in 1887, 413e1i>6312; in 1888, 42341i>64; in 1889, 5812@78 7s; in 1890, 551i>86; 1n 1891, 58lg@783e; in 1892, 44 7 s1i>1i>7218; in 1893 to Jan. 20, inclu. Btf'e, 4518@4918. BoNDs.-The Northern Pacific & Montana and the Coour d'Alene Ry. & Navigatim1 bonds are issued at $25,000 a mile; the James River Valley and the Duluth & Manitoba at $15,000 a mile; the Spokane & Palouse at $16,000 a mile; the Helena & Red Mountain, a round sum; all the rest at $20,000 a mile. All the issues of leased line bonds given in the table, except the Coour d'Alene 1st 6s of 18861...,the Northern Pacific & Montana bonds and the Beattle Lake Shore & J<.;astern 6s may be drawn and redeemed at 105 (certain amounts per year), the sin.king fund in most cases commencing ten years after the date of issue of the respective bonds. This company guarantees the bonds of the Seattle Lake Shore & Eastern by endorsement; see that company. The consolidated mortgage for $160,000,000 was issued according to plan in CHRO:NICLE, V. 49, p. 373. It covers, subject to prior liens, the main line and branches, a one-half undivided interest in 2~ miles more, and all the land grant except that east of the Missouri River, which is subject to the preferred stock. In addition to this the bonds at present outstanding are a first lien on 1,330 miles of branches which have no prior mortgage on them. These bonds are also issued in place of prior bonds on the main line and divisions retired by sin.king funds. (See full abstract of mort.-tl'Ustee, Farmers' L'n & Tr. Co.-in V. 50, p. 279.) -(V. 53,p. 603; • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis . 5 $1,000,000 J. & J. Baltimore,Treas. Office. Jan. 1, 192 6 900,000 J. & J. do do Jan. 1, 1895-, 6 g. M.&N. N. Y., London & Balt. May 1, 19 600,000 625,000 6 J. & J. Jer. City, Hud'n Co. Bk. Apr. 1, 1917 49,000,000 .. ...... N. Y., iiiiis ·:suilding. Ap:rii°i5;i89 36,486,650 See.text M:·&·N . 6 do do 1\1.ay 1, 1919 2,785,000 M.& 8. Sept. 1, 1919 6 do do 43,926,000 6 g. J. & J. do Jan. 1, 1921 do 19,328,000 6 g. A. & 0. do Dec. 1, 1933 do 11,415,000 6 g. J. & D. do Dec. 1, 1937 do (See text.) 5 g. J. & D. do Dec. I, 1989 do 565,500 6 J. & J. do Jan. 1, 1907 do 3,000,000 Q.-J. do 7 Oct. I, 189 do abt 8,000000 (1) 6 do Ab't Sept., '9 do 963,000 6 g. J. & J. do Jan. 1, 1936 do 6 g. M.& 8. 360,000 do Sept. 1, 1916 do 878,000 6 g. A. & 0. do Oct. 1, 1938 do 6 g. M.&N. 1,766,000 May 1, 1936 do do 1,650,000 6 g. J. & J. do July 1, 1936 do 1,451,000 6 g. J. & D. do June 1, 1937 do 400,000 6 g. M.& 8. do Mch. 1, 1937 do 5,381,000 6 g. M.& s. do Sept. 1, 193 do 1,750,000 6 g. M.& s. do Sept. 1, 1938 do 5,675,000 6 g. F. & A. do Aug. I, 1931 do 750,000 5 g. J. & J. do May 1, 193 do 3,600,000 6 g. J. & J. N. Y., Winslow, L. & Co. Jan. 1, 1933 5,156,000 6 g. J. & J. N.Y., So.Pac.Co.,23 Br'd Jan. 1, 1907 4,751,000 5 g. A. & 0. do do Oct. 1, 1938 2,640,300 8 per an. J. & J. Boston, Second Nat. Bk. Jan. 5, 189 400,000 M.& 8. Boston, N. E. Trust Co. Mch. 1, 1897 6 J As to the amount of con sols outstanding the company's Treasurer was. quoted in December, 1892, as stating that $59,929,000 of the same had. been executed. Of these $44,064,000 were outstanding and bear1ng interest; $3,347,000 were set aside for preferred stock and $12,518,000 belonged to company itself, a part of these last being pledged as. collateral. See V. 55, p. 1111. , . FLOATING DEBT.-Floating debt on Oct. 20, 1892, was $9,385,526, of which about $8,000,000 were one-year notes, secured by deposit ot' consols and other securities. V. 55, p. 723. LA.NDs.-The land grant of the company was 12,800 acreA per mile 1n. States aitd 25,600 acres per mile in territories, and the lan<ls earned by construction to June 30, 1892, were estimated to be a11ottt 4f>,824,960> acres, of which a.bout 38,521,656 remained unsold. The lands east of Bismarck (Minn. and Dak. Divs.) are pledged to the preferred stock,. and that stock is received in payment therefor. For the fl.seal year 1891-92 total land sales were 553,879 acres fo:n, $2,308,990. Total sales, includin~ town lots, &c., were $2,666,065;. total cash receipts for year, $2,770,019. For 5 months, July 1, 1892, toNov. 30, 1892, total cash receipts, $575,165 from sales, notes paid, &c. '.!.'otal deferred payments (notes) against land sales on Aug. 1, 1892, was $5,900,914, of which $817,258 was applicable to the retirement of preferred stock, $2,170,999 to Missouri Division and t6 Pend. d'Oreille Division bonds and $2,912,657 to the general 1st mort. bondsLATEST EARNINGS.-The earnings of the whole system, including the-Wisconsin Central, for the month of November, 1892, and the fivemonths ending Nov. 30, 1892, were as follows: ,---Novembe-r.-----.. ,-July 1 to Nov. 30.--.. Incl. Wisconsin Oent. 1891. 1892. 1891. 1892. Gross earnings......... $2,990,701 $2,899,421 $14,692,036 $15,153,99:r. Operating expenses.... 1,520,299 1,488,927 8,236,270 8,341,782 ----- Netea.rnin~s .... --··$1,470,402 $1,410,494 $6,455,766 $6,812,209 Miscellaneous IDcome.. 237,139 132,014 700,708 750,931. Total net income .. $1,707,541 $1,542,508 $7,156,474 $7,563,140 Fixed charges... . .. . . . 1,173,426 1,235,535 5,491,087 6,093,891 Surplus............. $534,115 $306,973 $1,665,387 $1,469,249~ .ANNuAL REPORT.-Fiscal year ends June 30. Annual meeting iso hf'ld at New York on the third Thursday in October. Report for.J.89192 was in V. 55, p. 658,677,681. The Wisoonsin Central does not figurein the gross and net earnings below, but the net result from operatingits lines is added to get the yea.r's surplus. Yrs.endingJ,une30. 1888-89. 1889-90. 1890-91, 1891-92. Mileage, June 30.... 3,465 3,774 4,252 4,357 Passenger earnings. $5,824,163 $6,167,702 $6,680,492 $6,296,285. Freight earnings ... 12,877,838 15,600,320 17,531,222 17,383,771! Mail, express, &c.. •• 1,005,467 842,481 939,830 981,40h Total·········-·· $19,707,468 $22,610,503 $25,151,544 $24,661,457' Operatingexpenses. 12,185,944 13,463,746 15,400,996 14,577,349' Net earnings........ $7,521,524 $9,146,757 $9,750,548 $10,084,108. Per ct. exp. to ea.m's 61 ·83 59·54 61 ·23 59·11.. Other income, &c... $532,325 $1,341,172 $1,593,135 $1,664,204, Total net inc..... $8,053,849 $10,487,929 $11,343,683 $11,748,312 Intereston bonds... 4,917,833 5,115,752 6,247,074 6,901,956. Rentals .••... ···-···· 1,159,263 1,424,021 1,362,114 l,230,214c Guara.ntees·-···-···· 1,060,738 1,333,008 1,014,698 1,086,908, Pay'nts, other lines. ··-····· 144,630 387,365 394,953 Dividends........... . .•..... (3) 1,112,732 (4)1,472,466 *(2)731,862: Sinking funds....... 343,309 301,918 73,600 1,188,018Miscel (gen. int.,&c.) 91,228 108,708 348,078 111,375Total payments. $7,572,371 $9,540,770 $10,905.395 $11,645,286 Balance, surplus ... _ $481,478 $947,159 $438,288 $103,026 * Dividend No. 9, additional, paid Oct. 1, 1891, $366,191, was charged. against surplus of June 30, 1891. (V. 53, p. 288,368,520,546, 56'7', 5'70, 605,969; v. 54, p. 78, 159;., 266, 328, 405, 441, 821, 965; V. 55, p. 58,177,297,355,421, 504,. 658, 6'1'1, 679,681,723,856, 1111; v. 56, p. 42.) Northern Pacific Terllllnal Colllpany.-Owns terminal facillties on the Willamette River, Oregon, at Portland, East Portland an4 Albina, comprising lands 270 acres, trackage 24 miles, buildings 39,. dock frontage 7,904 feet. They are leased for fifty: years from January 1, 1883,jointly and severally to the Northern Pacific Railroad, the Oregon Railway & Navigation Company and the Ore~on & California Rail- road, with a guaranteed rental sufficient to pay mterest, sinking fund . and taxes. The sinking 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 centby Oregon Railway & Navigation Company, 40 per cent by Nbrthera. Pacific and 20 per cent by Oregon & California Railroad), and held bJ}'" -~.A.NU.A.RY, 1893,] RAILROAD STOCKS ANu .BONDS. 107 Subscribers •will confer a great f'avor by giving immediate notice of' any error discovered in these Tables. I RAILROADS. Miles Date siz· e, or INTEREST OR DIVIDENDS. Bonds-Prinol .A.mount I pal,WhenDue. For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable, and by Stor-ks-Laet on first page of tables. Road. Bonds Value. . Cent. Payable Whom. Dividend. •{)conee & Weste1-n-lst M., $9,000 p. m., gold . . . .... Ogdensb. &Lake Ohamplain-Consol. M. (now 1st M.) Income bonds, not cumulative.................... Guaranteed debenture bonds ..................... r Ogdensb TransitCo.lst M. (Cent. Vt.& Ogdens.,gu.) Saratoga & St. Law. 1st l.\!·i for $200,000, guar .. r "1hio & Mississip_pi,--Stock (;i,4/>30,000 is pref)...... 1st consolidated mort. ($3,445,000 are sink.fd.)c.. 1st consolidated mort., sterling, l'l. f. not dr'n ... c* .2d consoL mort. (sink. fund), no drawing ...... c* ·Spring. Div. (Sp. & m. 8. E.) 1st M. ($3,000,000)c* -1 st ~eneral mortgage (for $16,000,000) ......... c* Eqwp. Tr.,3 series, 10 per ct. drn. yearly at 100.o* Cin. & Bec;lford 1st mortga~e, gold................ '()1,,io River-1st mortgage, $1::.::,000 per mile, gold.o* Gen. M. (for $3,000,000), gold,lst on 39miles .. c* Ravenswood Spencer & Glen.lstM., gold,guar.c* ,Huntin~on&BigS. lstM. ($400,000),gold,gu.c* Ohio Soutltern,-lst mort. ($15,000 p. m.) gold .... c* General mortgage, (for $2,800,000) gold ........ c* Ohio Valley,Ky.-lst mortgage, gold ............. c* General consolidated mortgage, gold, guar..... c* <Old Oolony-Stock ..••.•... _••.••......•••.•..••••.. o* Bonds (not mortgage) .......................... c&r Bonds do ($2,000,000F.&.A..,.A.ug.'97)c&r Bonds do ................................ r Bonds for Framin$,ham & Lowell bonds ......... c ,Bonds not mort. (:i,750,000 '84, due July, 1904) .r New Bedford RR. 1st mortgage .................. c BostonClin. F. &N. B. mort.,int. guar. byrental.c Omaha & St. Louis-lstmort~age, gold ........... c* 2d mortgage ($4,000 per mile) gold ............ c* Funded mterest certificates, redeemable at 100.. - - - -1------1•---- 40 118 .... .. - . 1893 . ...&.c. 1880 500 1880 100 &c. 1888 1,000 · 10 628 393 393 393 222 .... iSS9 ·7¼ i868 1868 1871 1874 1883 '87-'91 1889 1886 1887 1890 1892 1881 1889 1886 1888 169 208 33 12 132 .... 108 108 ... . ... . i874 ... . '75·6-7 .•.. 1882 ... . 1884 '84-'88 · 58 1874 125 1880 145 1887 145 1890 . ... 1891 ·ioo 1,000 £200 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 100 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 M. & S. $360,000 3,500,000 A.. & 0. 999,750 .A.. & o. 350,000 J. & J. F. & A.. 759,500 100,000 J. & D. 24,092,629 6,501,000 ··7· J ...&.. J. 112,000 6 g. · J. & J. 3,213,000 7 .A.. & 0. 2,009,000 7 M. & N. 4,006,000 5 J. & D. 423,000 6 Various 135,000 5 g. M. & N. 2,000,000 5 g. J. & D. 2,598,000 5 g. .A.. & O. 300,000 6 g. F. & .A.. 300,000 6 g. J. & J. 2,100,000 6 g. J. & D. 2,520,000 4 g. M. & N. 100,000 5 g. J. & J. 2,029,266 5 g. J. & J. 13,567,500 7 per an. Q.--M.. 1,692,000 7 M. & 8. 3,600,000 6 Various 200,000 412 J. & D. 498,000 412 .A.. & 0. 3,650,000 4 J. & J. 400,000 7 J. & J. 1,912,000 5 J. & J. 2,717,000 4 g. J. & J. 51,000 5 g. J. & D. 271,700 5 J. & J. New York. Mch. 1, N.Y.Mer.Ex.Bk. &Bost. .A.pr. 1, .A.pr. 1, St. .Albans,. Vt. A.pr. 1, Boston Security Co. .A.ug. 1, Ogdensburg, N. Y. June 1, N. Y., Union Trust Co. London. N Y., Union Trust Co. do do do do N.Y.BaringMagoun&Co do do N. Y , Central Tr. Co. do do do do New York or Phila. N.Y.,Guar.&Indem.Co. do do N.Y., Central Trust Co. do do Boston, Office. do do do do do do Boston, N. E. Trust Co. Int. funded till Jan.,'93 New York. do 1923 1920 1920 1920 1909 1919 Jan:·1,..i898 Jan. 1, 1898 .A.pr. 1, 1911 Nov. 1, 1905 June 1, 1932 10 p. o. yearly. Nov. 1, 1919 June 1, 1936 .A.pr. 1, 1937 .Aug. 1, 1920 July 1, 1922 June 1, 1921 May 1, 1921 July 1, 1926 July 1, 1938 Dec. 1, 1892 Moh. 1, 189~ 1895-'96-'97 Dec. 1, 1897 A.pr. 1, 1904 1904 & 1938 July 1, 1894. Jan. 1, 1910 Jan. 1, 1937 May 1, 1940 Jan. 1, 1937 I -Oentral Trust Company o:f New York, to be delivered after payments te a.re guaranteed principal and interest. Huntin~on & Big Sandy mort• >the sinking fund, which is to cancel the bonds. I gage is g~aranteGd (bonds endor~ed);_ $100,0u0 of the bOJ:!dS are reNorthern .Railway co. (Callf'ornia).-This was a consolida- served for 1mp_rovements, etc. Ohio River stock author~zeq 1s $6,00~,,tion in May, 1888. Owns 390 miles of railroad, leased for 99 years fl:om OOO-Outstanding $~,915,430; (par, $100 ; car trusts, prmc1pal and m .July 1, 1888, to the southern Paci:fl~ Co. Lessee pays fixed charges terest, $113,061; bills payabl.e were $73,500 on January 1, 1892. ,and betterments and 6 p. c. on stock, if earned, and retains surplus. LATEST EARNINGS.-From ~Tan. l to Nov. 30, 1§92 (1~ months), gross The capital stock authorized is $21,000,000; issued $12,8~6,000, all but $723,140, agamst $649,947, m 1891: net, 309,6.>7 ~gamst $271,711. ,$199,300 being owned by Southern Paoiflo Co. The consolidated 5 8 ot In 1891 gross earnings, $706,966 , net, $294,715, interest on bonds, 1888, issued under mortgage for $21,000,000, are a first lien on 197 $222,838; taxes,_etc.,$48:830; balance,surpl1;1-s,$23,047. In 1890~oss, ,mil.es, and have a sinking fund after 1897, but bonds cannot be called. $680,972; net, $315,013, interest, $221,400, taxes, etc., $38,520, surIn 1891 gross earnings were $2,914,444; net, $1,375,171; against plus, $fi5,093. ~eorge W. Tho~p3on, :President, Parkersburg, W. Va. $1,079,671 in 1890; surplus over charges, $837,266; dividends, 6 per -(V. 52, p. 831, V. 53, p. 408, V. 54, p. 1046.) ,cent, $773,760; balance to So. Paoitl.o, $63,505. Ohio Southern.-Owns Spring.field, 0., to Wellston, 118 miles, and Norwich&; worceHter.-Owns from Norwich, Conn. to Worces- branches, 22 miles. To be extended to Lima1 62 miles. (V. 55, p. 765, ,ter, Mass., 59 miles; branch, Norwich to .Allyn's Point, 7 ifuies; total, 1036.) Stockauthorized,$5i500,000; outstanding, $3,84'0,000; par$100. •66 miles. Leased to New York & New England RR. for 99 years from General mortgage of 1889 1s to the Central Trust Company, as trustee. February 1, 1869; rental is 8 per cent on preferred stock. Common E~NINGS.-From. Jan. 1 to Dec. 31, 1892 (l~ months), gross $668,457, -stock is $6,600. Notes payable Sept., 1892, $290,000. In 1886-87, agarnst $590,241 m 1891. Report for 1891 ~n CHRONICLE, V. 55, p. 58. -gross receipts, $781,979; net, $293,108; rentals, $40,220; interest, $27,- In 1891 gross $59<;),241; n_et, $305,680; mter~s~, $226,800; taxes, 165; surp. over 8 p. 0 • dividends, $17,900. stock authorized, $3,825,000. $18,673; constr~ot10n, eqwpment, etc., $18,460, balance, surplus, ... ti fr H ki $41,742. Gross m 1890, $554,390; net, $282,216. N. Y. Office, 47 d • _Oconee ~ - es~ern.-0 wns roa m op.era . on om aw_- ns- Broa-dway. (V. 54 p. 643 682. v. 55 p. 10 68 765 1036) ville to Dublin, 40 tn1les; graded from Hawkinsville to Grovama, 13 ' ' ' ' . ' ' . ' . · miles. Successor to Empire & Dublin, sold in foreclosure Sept. 6, OhioValle,-.-completedfromEvansv:µie,~y.,VIaP1:,D-oetononthe 1892. Stock authorized, $477,000; outstanding, $360,000. Mortgage Che~apeake Ohio ~ Southwes~ern, to Hop~rnsville, 130 mil!'s; branches, ·as for $477 ooo. Trustee Mercantile Trust Company. 9 miles; leases Prmceton to Gracey, 21 miles; total, 160 miles. ORGANIZATION, ETc.-In 1891 $1,297,500 stock was purchased by the ' ' , Ogdensburg &: Lake Champlaln.-Owns from Rouses Point, Chesapeake Ohio & Southwestern, which guarantees the bonds by N. Y., to Ogdensburg,~. Y., 118 miles; leases for 99 years Saratoga & endorsement. See wording of guaranty in application to N. Y. Stock St. Lawrence RR., 9 IIllles. On June 1, 1886, a perpetual lease o~ this Exchange, v. 52, p. 974. Extension to Hopkinsville completed in ~oad was made to the Central Vermont RR_. Co., the lessee to pay mter- .August, 1892, &nd on July 1, 1892, leased the Louisville & Nashville's ,es~ on the bonds. The Ogdensburg Transit bonds are guaranteed by Princeton branch, 21 miles. see v. 54, p. 800. stock $2,163,000; par, this company and the Central Vermont. Stock $3,077,000 (par, $100), $100 Due c o & s w July 1 1892 $254 103 of which $1_,612.500 is owned by Central Vermont. On Oct. 1, 1892, EARNCNGS ......:.fu year i890·91 'were' $270,404; net, $91,217 (against :loans and bills payable were $60,000. $65,4.55in 1889·90); fixed charges, $75,155; other income, $5,614; ba.1LATEST EAR:rrINGS.-From July 1 to Sept. 30, 1892 (3 months), gross a.nee, sw·plus, $21,676, against $33,938 in 1889-90. (V. 51, p. 607; V. ,.earnings were $251,055, agst. $236,746 in 1891; net, $77,157, agst. 52, p. 321,718,974; v. 53, p. 602,641; V. 54, p. 800.) -$81,707; surp~us over charges, $ 11 ,3 2 5, agst.. $16,055. Old Colony (lliass.)-Owns from Boston to Provincetown, Mass. In year. e.nding June 30, 1892, STOSS earnmgs were $858~416; net, 120 miles; lines to Kingston, Plymouth, Somerset Junction, New Bed~ :$261,684 ,, mterest1_.eto. (less othermcome, $3,917), $~29,626, balancf!), ford, Lowell and Fitchbur"", Mass., and to Newport, R. I., 249 miles, and <Surpl~s, $32,058. m 1890-91 gross $800,l80; net, $184,116; deficit numerous branches 126 mfies in all; total owned, 495 miles; leases-Bos..after mt~rest, rental, etc.;, $42,878. (V. 53, p. 256, 568, 714; V. 54, P, ton & Providence Railroad, Boston toProvidence,44 miles, and branches 410,888, V. 55, p.147, a02, 935.) 20 miles; other lines 44 miles; total owned and leased September Ohio & 1'.lisslssippl.-Owns from Cincinnatj, 0., to East ➔t. Louis, 1892, 603 miles. ' ' ' Ill., 339 miles; Louisville branch, North Vernon to Jeffersonville, Ind., The Middleborough &Plymouth RR., 16 miles in length, was leased in 53 miles; the Springfield Division, Beardstown to Shawneetown, 111., 1892, and interest on its $225,000 bonds guaranteed. See v. 55, p. 420. 2~8 ~es;_New Albany &Eastern,Wat~on to New Albany, Ind., 712 mµe~ STOCK.-A.nincrease of stock from $12,000,000 to $15,000,000 was -Cmomnati & Bedford Branch, 712 miles; total, 636 miles. Orgamze.. authorized by stockholders in November, 1889, to pay for new oonnecNovember 2l, 1867, after f~reclo~ure sale. tions, etc., and on September 27, 1892, a further issue o:f stock STOCK.-Preferred stock 1s entitled to receive from the net earn• was authorized in order to meet the expense fOld Colony's share lngs 7 per cent per annum, "and to have such interest paid in full for being about $1,100,000] of raising the grade of Boston & Providence -ea.oh and every year before any payment of dividend upon the com- track for fow· miles, as ordered by the Legislatw·e, and to subscribe to mon stock;" and then, after 7 per cent dividend upon the common additional stock of the Old Colony Steamboat Company, in which it stock, the excess shall be divided equally, &o. holds a majority interest. In .August, 1892, $200,000 stock was ~ssued, B. & 0. ALLUNCE.-In Oct., 1891, a plan of reorganization of the and in January, 1893, $200,000 more was sold at auction. Bills pay1inances an<'!- control by the B. & 0. railroa':1 was presented and in 1892 able Oct. 1, 1892, $1,200,561; fl ve per cent notes, $200,000. -the B. & O. mterests secur~d most 0 ! tbe dtrectors._ BoNDs.-.A.uthority to issue $2,000,000 refundinu bonds was granted In March, 1892, a o~mrruttee appomted by ,Envlish shareholders re- the Directors in September, 1892. The report tor 1891-92 points porte,d tha~ needeq unprovements call fo!-' $2,932,000; but the com- out that there will be a saving of $150,000 yearly in interest charges if .Pany spres1dentclauns$640,000to besufflment. See V. 5~, p. 486,598. the bonds of the system maturing prior to March 2, 1897, are BoNDs.-Of the general mortgage of 1883 $12,14_2,000 1s re~erved to refunded when due at 4 per cent. (See v. 55 p 420 ) exchange for old bonds as they matw·e. Cyrus C. Hmes, of Indiana, and ' ' ' • · Union Trust Company, of New York, are mortgage trustees. Loans and DI.VIDENDS since 1881-In 1882, 612; ~883 to July, 1891, 1;>0~ in.bills payable were $300,000 July 1, 1892. Company owns $150,000 elusive, at the rate of 7 per cent yearly.; m December, 1891 (diVIdends changed to quarterly), 2 9 10 per cent: m 1892, March, 134; June, 134; .New Albany & Eastern bonds and $32,400 Cin. & Bedford 5s. E.utNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 months), gross September, 134; Deqember, 134. $1,881,976. against $1,909,803 in 1891; net, $604,311, against $581,891. LATEST EARNINGS.-From July 1, 1892, to Sept. 30, 1892 (3 months), .ANNUAL REPORT.-l!'isoal year ends June 30. Report for 1891-92 in gross $2,6f?6,415, a.ga:inst $2,454,739; net, _$929,091, agamSJt $949,V. 55, p, 1033, showing betterments, etc., fos $218,362 charged to op• 273; oth~r mcome, ~160,431, agst. $14,518; mterest, t~xes, etc., $_'.149, ,.erating expenses. 085, agamst $436,935; balance, surplus, $640,437, agamst$526,8~6. y; • d r. 19 89 . 90. ANNUAL REP0RT.-Year ends June 30. Report for 1891·92 was m v. 1890_9 1. 1891. 92 . ea1 en . .,ime 30. 1888·89 . 55 p 420 Gross ea~nings ..... $3,955,165 $'1,214,747 $4,108,974 $4,228,403 Ye~r end . June 30. 1889-90. 1890-91. 1891·92. $8,376,452 $8,744,812 ~t!~:=g!ebi:::: U:8i~:~~t $1:8~~:~~~ Gross earnings .....•.. .... $8,020,295 $1,906,177 $2,050,426 ·81nkingfund........ 65,000 69,000 73,000 77,000 Net earnin~s···········-·· $2,059,855 239,054 159,807 Miscellaneous...... 80,377 96,600 70,162 96,742 Other receipts............ 135,723 u:iggri U:~i~:t~~ Total ........... $1,193,048 $1,219,845 $1,210,054 $1,237,519 Bala.nce..... .. ..... def.$173,244 sur.$82,429 def.$37,642 def.$217,791 -(V. 53, p. 324, 519, 569, 608, 640, 754, 1336 ; V. 54, p. 120, 203, 243, ·276, 486,560,598,965, 1009; v. 55, p. 59,639, 1033, 1078, 1111.) Ohio River.-RoA.D.-Owns from Benwood, opposite Wheeling, West Va.ito Huntington, West Va., 211 miles; trackage into Wheeling, 3 miles; eases Huntington & Big Sandy RR. (opened Nov. 3, 1892), <Huntington to Kenova, West Va., on the Norfolk & Western's new tine, 12 miles; operates Ravenswood Spencer& Glenville Ry., Ravens-wood to Spencer, 33 miles; total, 259 miles. The Ravenswood Spenc.ir & Glenville is building a line in the interest of ~ his company from Ravenswood, W. Va., to a oonnrntion with the West Virginia & Pittsburg Railway, and its 1st mortgage bonds for $400,000 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Total income ...... _... $2,195,578 Rentals paid._............ $584,605 Interest . . . . . . . . . . . . . . . . . . . 658,675 Dividends.·-· .....•....... (7) 844,683 $2,145,231 $563,373 696,213 (7) 872,690 $2,210,233 $582,908 716,949 (625) 827,611 Total disbursements .. $2,087,963 $2,132,278 $2,127,468 Surplus................... $107,616 $12,955 $82,765 -(V· 52, p. 239,718; V . .53, p. 187,288,323,674; V. 54, p, 243, 762, 800; v. 55, p. 374,420, 806.) Omaha & St. Lonls.-Owns road from Council Bluffs ,Ia., to Pattonsburg, Mo., 144 miles. This company was formed in 1887 as suocessor to the Omaha Division of the St. Louis Kansas City & Northern (Wabash), sold in foreclosu:: J • 108 INVESTORS' SUPPLEMENT. [VOL, LVI, Subscribers will conf"er a great Caver ,by giving lnunediaie notice of any error discovered In these Tables• . Bonds-Pr1no1 INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or Due. Amount Rate per When Where Payable, and by pal,When of Par For explanation of column headings, &c., see notes of Stocks~La.at Outstanding Cent. Payable Road. Bonds Value. on first page of tables. Whom. Dividend. - - - ---- - - - - - ---- - - - Orange Belt-1st M.,$5,000p.m.,gold,sub. to call.c* &r 153 Orange-K~,8'"ille-lst mort., $1 ,000 "9;,r m. gold . . Oregon&: al.-lstM.,g.($30,000p.m.) natlOO.c* Oregon Impr01'ement-See MISCELLANEOUS CmtP AN IES. Oregon Pacific-Receiver's cert's (on July 1, 1892). 567 1st mort., land grant, s. f., g., $25,000 p. m .... c*&r Oregon Railwa11 & Navigatio-rv-Stock ....•.. ........ i36 ..... 1st mort. bonds, gold, sink. fd. (drawn at 100) .. c 642 Consol. mortgage, ~old, $25,000 per mile ...... c&r ..... Collateral trust, ;o d, redeemable at 105 ....... c* ..... Oregon Short L. & .Nor.-8tock,$27,000,000auth. Ore. ShortL. lstM.,gold (int. in "lawful money"). 610 Utah Southern 1st mortg~e, currency ........... .... Utah So. mort., S. Lake to uab (for $1,950,000). c 105 Utah South. Extension., 1st M., Juab to Frisco.c 138 Utah & Northern 1st mort., $12,000 per mile .. c* 462 Consol. M.,guards$15,000 p. m.,s. f.not dr'n,g.c* 466 Equi&ment bon ($36,000 payable yearl,..... .... 19 Idaho entral 1st mort. Nampa to Boise Ci .. c* Consol. M. (1st on 201 miles) gold, red. at 105 .. c* 1,425 Collateral trust, gold (redeemable at 105) ~ar.c* Oswego & Rome-SEE ROME w ATERTOWN & GDEN SBURG Oswego & Sy,·acuse-Stock, 9 p. c. guar., D. L. & W. 35 Consolidated mortgage (~ar. D. L. & W.) ........ 35 Construction M., guar.prm. &int.(for $1,000,000) 35 Owensb. Falls of Rough&: G.Riv.-M., $20,000 p.m.g Owensboro &: N ash'IJille-lst mortgage, &old_._ .... c* Oxford, &: Otarksville-SEE RICHMOND DANVILLE. Paducah Tenn. &: Ala.-lstM., $20,000perm., g.c* 118 Tennessee Midland 1st M., gold, interest guar .. c* 135 2d mortgage, gold, interest guaranteed ......... c* 135 $1,000 1,000 1,000 isso is19 712,463 6 g. A. ·&:·o. Apr., '90; 15,000,000 ·1ast pd. 24,000,000 6 per an. Q.-J. Bost-0n,Ottice,Ames.Bld 6 g. J. & J. N.Y., Un.Tr.Co.&Bost'n 5,059,000 5 g. J. & D. 12,583,000 do do 5 g. M.& S. 5,182,000 do do 26,244,853 ..6. F. & A. 14,931,000 N.Y., Un.Tr.Co.&Bost'n 424,000 7 J. & J. None Baid. 1))00 1,526,000 J. & J. N.Y., Un.Tr. o.&Bost'n 7 1,000 1,950,000 7 J. & J. do do 1,000 4,995,000 7 J. & J. do do 5 g. J. & J. 1,000 1,852,000 do do 1,000 1 8,000 5 A. & 0. do do 1,000 13 ,000 6 J. & J. do do 1,000 11,128,000 5 g. A. & 0. do do 500 &c. 13,000,000 5 g. M.& 8. do do 1885 1889 ------· 1882 ·ss 6 g. J. & J. Jan. 1, 1907 ······-·-· 6 M.&N. Nov. 1, 1919 5 g. J. & J. N. Y., South: ·Pacific Co. July 1, 1927 1887 1889 1887 1871 1879 1879 1878 1886 1887 1887 1889 1889 is16 1883 1893 1881 1890 1892 1892 $700,000 (t) 17,045,000 ---- ---- 1,000 100 1,000 1,000 1,000 100 1,000 c<>up: ---- -------1, 1900· Oct. Jan. .July June Sept. 1, 1, 1, 1, 18~3" 1909 1925 19-1.9 Feb:· i",· ·i922' At Co. 's option July 1, 1900 July 1, 1909 July 1, 1908 Jul,y 1, 1926 Apr.1, yearly. Jan. 1, 1917 Apr. 1, 1919 Sept. 1, 191~ 1,000 1,320,400 9 per r1.n. 1F. & A N. Y., Del. L. & W. RR. Feb., 1893 M.& B 438,000 7 do do Mch. 1, 190'l" M.&N . N. Y., Farm. L. & Tr. Co. May, 1923 668,000 5 (1) 5 g. 1943 ·· ·6 g. M.&N. N. Y., i2o·Broadway. Nov. 1, 1931 2,000,000 1,000 1,000 1,000 2,420,000 1,491,000 1,220,000 50 1,000 1,000 -··· 5 g. J. & J. N. Y., Central Tr.&St.L. July 1, 1920 5 g. M.&N. N.Y.,Cent.Tr.&St.Louis May 1, 1922 5 g. J. & J. do do July 1, 1922 ~ 8TOCK.-Preferred 6 per cent non-cumulative, $2,220,500; common I to Frisco, 275 miles; sundry branches, 117 miles (0f which 40 mile~ I narrow gauge); total, 1,425 miles. $2,313,000 deposited in trust till June 1, 1893; par, both, $100. BoNDs.-Five coupons, including coupon due January 1, 1891, were :funded into 5 per cent l,onds, _due 1937, but redeemable at op~ion ~f company, the new bonds bemg secured by the coupons deposited m trust. (See V. 52, p. 81, 391.) See ab~tract or first mo1;tga~e, V. ~5, p. 213. In June, 1892, Judge Thayer m the U.S. District< ourt, m the oase brou~ht to recover rentals for cars used under the Wabash receivership, awarded this company damages at $83,613 with interest, aggregating about $16,000, from June, 1889. v. 54, p. 968. From January 1 to Nov. 30, 1892 (11 months), gross earnings (partly estimated) were $523,684, against $454,262 in 1891. For year endin(J' June 30, 1891, gross earnings were $525,487; net, $47,795. In fiscal year 1889-90 gross were $654,828; net, $141,083(V. 51, p. '786; V. 52, p. 81, 391, V. 53, p. 921.) Oregon & Callf"ornia.-From Portland, Ore., to California State line, 365 miles; Albany Junction to Lebanon, 12 miles; Portland to Corvallis 97 miles· Woodburn to Natron 93 miles. Total 567 miles. ' ' . . ' ' HIS'!'ORY, LEASE, ETc.-Reorgam~ed m 1887. See V. 44, p. ll8, 370. Road 1s leased to the Southern Pl:!-Cifi_c Company for 40 year~ from Janu• ary ~. ~887, the lesseeguarantee1;Ugmterest on.the bonds, a:i:id the lessor rece1vmg any net profit and bemg charge~ W1th any deficit after payment of charges an!l betterments. The Pacific Improvemen~ C~mpany owns the bulk of 1~S $19,000,000 stock, $12,000,000 of which is 7 per oont preferred; par is $100. BONDS.-Land grant was about 4,000,000 acres, part of which is oovered by the mortgage, proceeds of land sales going t-0 redeem bonds drawn at par, unless purchasable lower. Trustee of m9rtgage, Union Trust Company, New York. The Southern Pacific Company's guaranty of prinoipal and interest is printed on each of the 5 per cents. In 1892 net land sales subject to mortgage were 42,224 acres for $242,809 ; cash receipts, $53,478. EABJHNG8.-ln 1891 gross earnings were $2,134,349; net, $380,089 (a~ainst $496,830 in 1890); total net income, including interest rece1ved, $444,311; fixed charges, $933,460; deficit for year, $489,147, against deficit of $259 430 in 1890.-(V. 51 p. 910; v. 53 p. 793.) ' ' ' Oregon Paciflc,-Projected from Yaquina, on Yaq.uina Bay, Ore., to eastern boundary of the State, about 600 miles, of which 128 miles, to Halsted, are in operation, and 14 miles have track laid but not in regular operation. Company had a land grant of over 950,000 acres of land. HISTORY.-This railroad is to be sold in foreclosure March 1, 1893, Mr. T. E. Hogg having been appointt>d rt>ci-ivn Oct. ~20, l890. R t organization plan {V. 54, p. 78) offered in January, 1892, failed. STOCK, ETC.-Stock is $30,000 per mile. Net current liabilities July 1, 189~, were $865,833, of which receiver's certificates were $712,463. EARNINGS.-In year ending June 30, 1892, gross earnings were $117,339; deficit under operating expensee, $80,465. Office, 45 William Street, New York. {V. 51, p. 458, 609; v. 53, p. 59, 570; v. 54, p. 78,159,367,447,845; V. 55, p. 298, 4'll, 806,_938, 1036.) Oregon Hallway & Nav!gation.-(See Map Union Pacific.)ROAD.-East Portland, Ore., to .t1untington, Ore., 403 miles; branches 656 miles; total operated July 1, 1892, 1,059 miles, of which 13 miles narrow gauge. Ocean line San Francisco to Portland, 670 miles. ORGANIZATION.-Leased for 99 years from Jan.1, 1887, to the Oregon Short Line & Utah Northern RR.; rental 6 per cent per an. on stack and interest on bonds. This lease {see abstract V. 45, p. 539) is guaranteed by the Union Pacific, and the property is operated in the Union Pacific eystem. In 1889 the Oregon Short Line Co. purchased a majority of the stock, and on Jan. 1, 1892, owned thereof $14,348,200, $13,000,000 beJng pledged to secure its collateral trust bonds. DIVIDENDS since 1876-In 1879, 2 per cent; in 1880, 8 and 10 scrip; ln 1881 and 1882, 8; in 1 R83, 10; in 1884, 612; in 1885, 412; in 1886, 7; in 1887 and 1888, 6; in 1889, 7 (1 per cent being extra out of assets); 1n 1890, 1891 and 1892, 6 p. c.; in 1893, January, 112 p. c. (quarterly). BONDS.-First mortgage has a sinking fund of $60,000 per year, plus interest on bonds canceled ($96,880 in all in year 1888-89), to buy bonds at or below 110, or else draw them at par on January 1, bonds so paid being canceled. The Farmers' Loan & Trust Co. is trustee of the 1st and the consolidated mortgages. The collateral trust issued in 1890 (trustee American Loan & Trust Company of Boston) provides for the issue of $25,000,000 bonds. The entire issue (but not less) may be redeemed on seven months' notice at 105 and interest. See abstract of mortgage and of the mortgages securing the bonds pledged in V. 51, p. 243. E.ARNINGS.-Jan. 1 to Nov. 30 in U!92 (11 mos.), gross earnings of railroads were $4,435,370, against $5,274,528 in 1891; net, $1,402,184 against $1,822,255. In 1891 gross, $5,673,172; net before deducting taxes, $1,856,783; taxes, $151,737 ; rental received, $2,623,306; other expenses met by lessee (loss on water lines $80,630, interest on Northern Pacific Terminal bonas $105,000, etc.) $208,688; loss to lessee, $1~948. _!_n 1890 gross, $4,954,711; net, $1,018,686. Oregon Short Line & Utah Nortbern.-(8ee Map Union Pacific.)-ROAD.-Owns road from Granger, Wyoming, to Huntington, Oregon, 542 miles; branch Shoshone to Ketchum, Idaho, 70 miles ; Ogden to McCammon, Idaho, 111 miles; Pocatello to Silver Bow, Moniana, 256 JllHes ; Lehi Junction to Tin tic, Uta.11, 54 miles; Ogden, Utah, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Also leases and controls the Ore. R. & Na.v. Co., which see above. ORGANIZATION.-Formed in 1889 by a consolidation of the Oregon Short Line, the Utah Northern and other lines. It is controlled by the Union Pacific Railway Co, which operates it under a traffic agreement, and owns a majority of the stock. . . . CAPITALSTOCK.-Sto~kaut~or1zed $27,000,000 (par, $100); outstandmg $26,244,853, ef w~ch Umon Pac. Jan. 1, 1892, owned $14,990,703, pledged as. part security for the U. P. collateral tr~st not~s o! 1891. Gross fl.oatmg debt Jaa. ~• 1892, $5,427,314, of which $-!,039,.>;n due U. P. Assets-COJ?'.lpany s bonds, $2.!102,694; accounts receivable; $549,186; net fl.oatmg debt, $2,775,430. BoNDS.-Of its outstanding bonds,companyitself owned Jan. 1, 1892,. $2,~52,000. ~onsols, $1,988,000 of whic~ had been pledged with the Umon Pamfic for ~d vance_s? there bemg then due that company $4,639,532. The Umon Pacific at the same date owned $12,139,500 of the company's bonds, so that of the total debt $14,193,500 was not afloat, $13,456,500 of this amount being held by trustees under the Union Pacific trust indenture of 1891, and its collateral trust deeds ot· 1 .. 79 and 1883. In 1891-92 much of the collateral under the trust of 1891 was sold. See Union Pacific. The consolidated mortgage due 1919 (trustee, Amerioan Loan & Trust Company) is a ftrst lien on 201 miles and a second on 1,220 miles. Sufflcient bonds are reserved to retire prior bonds when due, and the t8tal issue on the road in operation is not to exceed, including prior liens, $25,000 per mile. Bonds may be issued for extensio-:-ts at $25,000 per mile (unless a ma.iority of the bondholders object) and additional a.mount.& tor terminals and second track, but not exceeding In the aggregate $35,000 per mile of double track. The issue is redeemable (but only as ai whole) on any coupon day at 105 aRd interest. There will be a sinking: fund when earnings suffice, bu.t for this no aonds can be drawn. Th& Union Pacific guarantees interest on this issue under a. traffic a.gre&ment. See abstract of mortgage V. 51, p. 242. . The collateral trust b<?nds of 1889_ ar~ secured by dep<?s1t of. $1;3,000,000 of .oi:egon Rail way & Navigation stock. There 1s a. sinking rund for this issue, but not less than the whole amount can be called for payment, and that only at 105. The Union Pacific guarantees both principal and interest of the collateral trust bonds. TruAtee is American Loan & Trust Co. of Boston. See mortgage abstract, V. 51, p. 243". EARNINGS.-January 1 to Nov. 30 in 1892 \11 months) gross $6,626 _ 428, against $6,963,061 in 1891; net, $2,688,848, against $2,762,916. A....~UA.L REPORT.-Report for 1891 in V. 54, p. 719, showed the following: 1889. 1890. 1891. Average miles operated............ 1,397 1,404 1,422 Gross earnings ...............•.... $6,512,345 $7,488,031 $7,574,456 Netearns.(afterdeductingtaxes). 2,628,665 2,334,047 2,783,914 Income from investments, etc.... 449,452 884,165 1,035,652 $ , , a Total net income_ ..•.•...... •. $3,078,117 $3,218,212 3 819 56 .., Interest <m bonds ................. $1,834,879 $2,577,412 $2,849,854 Sinking fund.. ................... .. 15,423 201,110 217,458 Loss on l'sedlin's(O.Ry.&N.syst'm) 736,206 1,789,190 1,126,949 Miscellaneous...................... 201,811 47,182 34,411 Total. ..........•.....•......... $2,788,319 $4,614,894 $4.i~28,672 Balance ... ........................ sr.$289,798df.$1,396,682 df. :i;409,10& -(V. 51, p. 84, 172, 242, 243 ; V. 52, p. 6'79, 902; V. 54, r. '719.) Osweo-o & Syracnse,-Owns from Oswego, N. Y., to Syracuse, N'► Y., 35 mfles. Leased in 1868 during length of charter and renewal thereof to the Delaware Lackawanna & Western RailrQad Company for9 per cent per year on $1,320,400 stock and interest on bonds. O~ensboro Falls of" Kon~h & Green Kiver.-Owns from. Owensboro, Ky., southeasterly to Horsebranch on Ches. & 0. S. W. 42: miles. Extension to Middlesborough projected. In August, 1892. Ches. & O. 8. W. parties bought a controlling interest in the stock, and road will be operated in connection with that line but as an independent property. Five per cent mortgage for $6,000,000 ($20,000 per-mile) will be issued. Owensboro & Nashvllle.-Owns from Owensboro, Ky., to Adamville, Ky., 84 miles; Mud River Branch, 4 miles. Operated by Louisville & Nashville Railroad, which owns the $1,156,518 stockt (par, $100) and $1,200,000 of the first mortgage bonds-all these bonds and most of the stock being pledged under its trust deeds. In 1890-91 surplus overfl.xed charges $26,100, against $42,136 in 1889-90· Earnings now included in those of lessee. Paducah Tennessee & Alabama.-(See Mop).-ROAD.-Own,. from Paducah, Ky., to junction with Tenn. Midland at Lexingtons. Tenn., 118 miles, and operates the Tennessee Midland RR. from Memphis, Tenn., to Perryville, on the Tennessee River, 136 miles;. total, 254 miles. Extension of Tenn. Midland to Nashville proposed, see V. 55, p. 806. HISTORY.-Connection with Tenn. Midland completed in September, 1892, forming part of a new through line between St_ Louis and :!\fomphis, as well as between Paclucah, Ky., and Memphi!>.- J .A.NU.A.RY, 189B,] RAILROAD STOCKS AND BO.NUS. I I I I i I, I I' MAP OF THE PADUCAH, TENNESSEE &, ALABAMA AND TENNESSEE MIDLAND https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROADS. 109 [VoL. LVI. Subscribers -will confer a great favor by giving imm.edlate notice of any error discovered in these Tables. RAILROADS. For explanation of column headings, &o., see notes . on first page of tables. Panama-Stock ........•......... .............. . ..... General mortgage for £1,000,000 sterling ....... c Sinking fund subsidy bonds.,gold, drawnatlOO.c* Paterson&: Hiid.-Stk.,8 p.cif.erp.rent.N.Y.L.E.&W. Pecos Valley-Istmort., gol , $12,000 permile . . c* Bonds-PrlnotINTEREST OR DIVIDENDS. Miles Date Size,or When Due. Amount Rate per When Where Payable, and by pal, Par Stocks-Last of of Whom. Dividend. Road. Bonds Value. Outstanding Cent. Payable --- - - - 48 48 48 15 89 ·--· 1867 1880 ---· $100 £200 $1,ogg 1,000 50 1,000 General mortgafe, $ & £ •.... . ..................... 455 is10 Consol. M. for$ 00,000,000, s. fund, not drawn .. 1,006 1873 do do (same lien as consol. 6s) gold ...... . ... 1455 1879 1,000 1,000 Bonds (P. W. & B. stock as collat.) s. f., not dr'n.r 571 1881 Navy Yard mort. (extended 20 years in 1881) ... 1· .... 1876 5,000 Collateral trust loan, gold (s. f. ¼ p. c.) not dr'n.c* 1,000 1883 Equip. Tr. gold bonds (s. f. 5 p.c.) not drawn .... c• ........ 1889 1,000 Penn. Car Trust (in series payable l 10 yearly) .... ...... 1881-4 1,000 Eauip. Trust (in series payable one-tenth yearly) . '86-91 1,000 Penn. Rolling Stock Trust (1-10 payable yearly) . ..... 1892 1 ,000 Del. Ave. Market Co. 1st mortgage ............... r 1889 5,000 50 Pen~vania aom;a~-Stock ...................... Bon ,sec. byP. t. . &C. stock (s. f.dr'nat105.r 1877 1,000 Bonds, g., sec. by pl'ge & guar. (s. f. not dr'n)c*&r .... 1881 1,000 Penn. Lehigh&: Eastern-lat M. $5,000,000, gold . .. 1889 1,000 Pen~lvania & Northwestern-Stock ................ 63 50 Bells Gap 1st mo~age, Bells Mills to Lloyds.c* 8 i873 500 Extens1onlstmo gaif<e ........................ c• 26 1875 1,000 Consol. mort. (for $5 0,000) s. fund not dr'n.c* 26 1883 500 &c. Clearfield &.Je:fferson lstmortgage ............. c .. 37 1886 500 &c. .Penn. & N. W. gen. mortgage for $2,000,000 ..... 63 1890 1,000 Pennsylvania Poiighkeepsie &: Bost.-lst M., gold.c* 73 1889 1,000 2d mortgage for $500,000, gold ............. . ..... 1,000 73 1890 Slatington Valley RR. 1st mortgage ...... . ....... 1886 500 &c. Pennsylvania-Stock . .......•.......••........•...... ..... 1890 I ---· ---- ------· ------· ---- ·--- $7,000,000 £800,000 $2,242,000 630,000 987,000 126,774,500 19,997,820 27,480,020 4,998,000 7,909,000 1,000,000 9,900,000 2,74 8,000 600,000 u,787,ooo 3,~70,000 300,000 21,000,000 1,217,000 19,467,000 450,000 2,000,000 166,000 81,000 156,000 1,000,000 603,000 1,500,000 250,000 61,500 See text. 7 g. 6 g. 8per an. 5 g. See text. 6 6 5 g. 4 5 4¼g. ~ g. 4 4 4310 See t ext. 6 4¼g. 5 g. See text. 7 6 6 6 5 6 g. 6 g. 4 I Various A.10&0. M.&N. J. & .J. A. & O. M.&N. Seerem. See rem. Seerem. .J. & .J. .J. & .J. J. & D. M.& 8. Quar'ly. i-F. uar . M.& 8. N. Y., 29 Broa-dway. Jan. 3, 1893N. Y. Office & London. Oct. 10, 1897 N. Y., 29 Broadway. Nov. 1, 1910 N. Y., 120 Br,iadway. J a n. 2, 1893= N.Y., Mercantile Tr. Co. Oct. 1, 1920 Philadelphia, Office. Nov. 29, 1892 Phila. Office & London. July 1, 1910 Phila. Office & London. June 15, 1905 Sept. 1, 19H> Philadel~hia, Office. Pbila.,Pa. o.for Ins.&c. July 1, 1921 Phila., Co.'s Office. Jan. 1, 1901 Phila.,Provid'tL.&T.Co. June 1, 1913' Phila., Gir'd Life &c. Co. Sept. 1, 19141 Pbila.,Provid'tL.&1'.Co. 1892 to 189-4; Phila.,Tr. 8. Dep.&I. Co. 1896 to 1901 Phila., Gir'd Life &c. Co. 1893 to 1902' Phila., 23S So. 4th St. Mar. 1, 1909 Pittsburg, Co.'s Office. Mar. 15, 1892: Phila., Tr. 8. D. & I. Co. July 5, 1907 .J. N. Y., Nat'l City Bank. July 1, 1921 0. N. Y. Security & Tr. Co. Oct. 1, 193~ .J. Phila., Guar. Trust Co. Jan., 1893 .J. PhiladJ05 8. Fo~th St. July 1, 1893 Aug. 1, 1905 A. 0. Phila., Guar. Trust Co. Apr. 1, 1913 do do Jan. 1, 1927 .J. do do Jan. 1, 1930 .J. J. .July,'90, coup. last paid Jan. 1, 1939 Jan. 1, 1910 do do .J. ............ July 1, 1916 .J. 2~-=-=i & .J. A. .J. .J. F. A. .J. .J. J. J. .J. & & & & & & & & & & and all Ohio River points. See V. 54, p. 598, 801, 965. The Tennessee Interest on general mortgage 6s of 1870 is payal>le on coupon bonds Midland is controlled in the inter est of this company, which opera tes .January 1 and July 1; on registered bonds, April 1 and October 1. lnit under a 30-year traffic contract . t.erest on consolidated 6s of 1873 is payable on coupon dollar bonds STOCK authorized, $5,000,0 00 ($20,000 per mile) ; outstanding, $2,. on June 15 and ~ecember 15; on couoon sterling bonds, .January 1 an<l 360,000. BoNDs.-St. Lon is Trust Co. is trustee of all three mortgages . July 1:; on registered bonds quarterly, March 15, &c. Interest on Interest is guaranteed on the T e nnessee Midland bonds, and the bonds consolidated 5s o~ 1879 is payable on coupon bonds March 1 and Sep,so endorsed. On present mile age the Tenn. Mid. bonds are limite d to t.ember 1; on registered bonds, qu~rterly, March 1, &c. . amount now outstanding, but on any extension eastwardly from T enThe collatei:a~ trus~ loan of 1883 1s secured by the deposit of mortgage nessee River first mortgage bonds m ay be issued at $15,000 and second bonds of s:iibsidiary lines to the par value of $1_3,690,000. mortgage at $5,000 per mile of completed road. For P a ducah bonds The eqmp?lent trust bonds of 1889 have a smking fu_nd of 5 per cent see aav. of Jan. 21 1893. yearly, an~ if bonds cannot_ be bought at par the sum 1s to be mvestedl ' ~ . In new eqmpment to be subJect to the trust. EARNINGS.-On T~nne~see .Midland from ~an. 1 to D ec .. 31, 18 92 (1 2 Its guaranteed securities are bought up by the Pennsylvania Railroad months), gros_s earmngs w e re $199,222, aga m st $210,143 m 189 1. For Uompany with 1 per cent of the net income yearly, and $7,686,000 so-Tennessee Midland s ee~also V . 51, P• 830,908; V. 53,_p. 879; V. 5 4, P. purchased were held on Jan. 1, 1892. Sinking fund for consols Jan. 1,. 598,684,801,965; V. 5u, P- 8 06. Car trusts, 6s, April, 1 89 2 , $66,000, 1892, held-Consols, $1,771,980; other securities and cash, $2,532,833. Panam.a.-Owns from Colon to Panama, 48 miles. HISTORY.EAmnNGS, FINANCES, &c.-The total cost to the Pennsylvania RailOpened through January 2 8, 18 55. In June, 188 1, most of the stock road Company of the stocks and bonds of other companies held in its was sold to parties interested in the D e Lesseps Panam a Can al Co. As to treasury was, up to .January 1, 1892, $114,599,781 (par value of the Paciftc Mail 88. Co. a ud the P a n a m a Road' s independent line of st eamers same, $154,319,240), most of which is represented on the other side of established in January, 18 93, see V. 55, p. 374,723, 996, 1111; V. 56, the balance sheet by issues of Pennsylvania Railroad stock and bonds p. 127. DIVIDENDS since 1881 have been: In 1882, 1212; in 1883, 13¼; and other debit items. m 1884, 16; in 1885, 10; in 1886 and 1887, nil; in 1888, 26; in 1889, From Jan. 1 to Nov. 30, 1892 (11 months), gross earnin"'S on lines 9; in 1890, 5; in 1891, March, 2; Dec., 3; in 1892, March, 2 p. c.; in east of Pittsburg and Erie were $62,906,920, against $61,630,010 in 1893, January, 2 p. c. 1891: net, $18.491,809 against $19,916,688 in 1891. For same periods BoNDs.-The sterling mort~a~e is for £1,000,000, and in fall of 1892 on lines west of Pittsburg and Erie gross earnin~s in 1892 showed an the company was proposing liO issue £202,200 bonds remaining in the increase of $2,949,968 compared with 1891 anu the net earning!S a treasury. When issued they will carry an entJ.orsement certifying decrease of $136,095. See V. 55, p. 703. that bf vote of the Board of Directors the holder has the option ANNUAL REPORT.-Fiscal year ends Dec. 31. Annual meetin"' is held ot havmg his bond e"tended from Oct. 10, 1897, to Oct. 10, 1907, at Philadelphia on second Tuesday in March. The report for 1§91 was at 5 per cent interest, upon notice to the company before July 10, in the CHRONICLE, V. 54, p. 387, 404, 406. 1897, the bonds so extended to be subject to call for redemption at 105 A summary of the total business of 1891, compared with previous and interest any time after Oct. 10, 1902, on 90 days' notice. The sub- years, is shown in the following: sidy bonds are secured by a pledge of the sum of $225,000 annual subsidy payable to the u. s. of Colombia by the company, and are drawn EARNINGS ON ALL LINES BOTH EAST AND WEST OF PITTSBURG AND ERIE. and paid o:ff on November 1, yearly, with any surplus of the subsidy not 1889. 1890. 1891. needed for interest, $85,000 bonds being paid Nov. 1, 1892. Of the Gross earnings ............. $122,917,337 $133,521,623 $134,254,613 bonds given above as outstanding $273,000 of the 7s and $409,000 of Operating expenses........ 83,811,128 92,003,365 91,819,660 the 6s were on Jan. 1, 1892, held by the sinking fund of the 7s of 1867. Net earnings........... $39,106,209 $41,518,258 $42,434,953 ANNUAL REPORT.-The report for 1891 in CHRONICLE, V. 54, p. 596, showing net income, was $962,234, against $Q22,500 in 1890, and a surThe income account bas been as follows, the "net income " given in p!us over interest, sinking fund and other charges of $323,801, a gainst the first line being the amount of income after deducting interest paid. $348,873. (V. 53, p. 324; V. 54, p. 596; V. 55, p. 374, 503, 723, 996, INCOME ACCOUNT OF PENNSYLVANIA RAILROAD COMPANY. 1111; v. 56, p. 127.) 1889. 1890. 1891. Paterson & Hudson.-Owns from Weehawken, N. J., to Paterson, $ $ $ N. J. 13 miles. The road was leased in perpetuity in 1852 at a rental Net income Penn. RR. Div'n 10,870,351 11,030,401 12,257,432' of $48,400 per year, and is operated by the New York Lake Erie & Net loss or gain on N . .J. Div. +138,712 +396,885 -276,456 Western as part of its main line. 1,644 9,135, 16,316 Loss on Pitts. & Erie Div .. Pecos Valley.-Projected from Pecos City, Texas, on the Texas & Pacific Railroad, via the valley of the Pecos River, to Albuquerque, New 10,992,747 11,425,642 Balance ...........•..... 11,971,841 Mexico, on the Atchison Topeka & Santa Fe, about 340 miles; completed From this balance dedttctin .January, 1891, from Pecos City to Eddy, about 90 miles. The Payments to trust fund ..... 87,433 93,498 98,622 mortgage (trustee, Mercantile Trust Company of New York) is for Consol. mort~te redeem~d. 324,800 324,800 324,780 $5,000,000. Stock authorized, $5,000,000; outst a nding, $1.105,000; A.llegh.Val.R . o.-Defl.c y. 160,179 119,005 274,062 par $100. EARNINGS.-In year 1892 gross earniE-$S $123,737; net, Penn. Canal, etc ............ 233,510 $27,437. In 1891, gross, $57,778; net, $5,198. \ v. 51, p. 458.) 1,5.io:7!:is 1,530,913 1,632,024 Extraordinary expenses .... Pennsylvania.-( See Map)-LINE OF ROAD-The Pennsylvania system embraces about 6,610 miles of railroad, including all e ast and west 2,336,835 2,169,327 2,208,222 of Pittsburg. At the close of 1891 the mileage operated east of Pitta• Balance to credit of income 8,655,912 9,256,315 9,763,619burg & Erie, on which earnings as reported were based, was divided as Dividends .... _.............. (5) 5,327,270(5¼)6,241,873 (6) 7,495,598 follows: Pennsylvania Division and branches, 1,510; Philadelphia & Erie Divisiont 546; United Railroads of New Jersey and branches, 515; To credit of profit and loss. 3,328,642 3,014,442 2,268,021 total opera.tea, New York to Pittsburg, with branches, 2,573. Bal.in set'm't of claims, &c. +119,370 +49,01~ ORGANIZATION, LEASES, &c.-The charter of the Pennsylvania Rail- Expensesoffl.oods.June,'89. -2,609,325 1,064.,704 road was dated April 13, 1846. The Harrisburg Portsmouth Mt. Joy & B 1 838,687 1 949 738 2 317 040 Lancaster is still operated under a lease, thou!}:h forming part of main line. a aRce · · · • • • · · · · · · · · · · • ' ' ' ' The Pennsylvania Company controls all the lines west of Pittsburg Bal. profit and loss Dec. 31. 20,068,055 22,017,794 24,334,833 and Erie, the Pennsylvania Railroad Company holding all its stock. -(V. 53, p. 107, 267, 713; V. 54, p. 180,345,447,507,665,702,867; V ~ CAPITAL STOCK.-The Penn. RR. stock has been increased from time 55, p. 313, 1061, 1078; V. 56, p. 43.) to time, chiefly by sale at par to stockholders, for new acquisitions, etc. Pennsylvania Company.-The Pennsvlvania oomnany is a corIn March, 1892, the stockholders, in view of the statement in the t· h te db th p 1 · L • 1 t A :.,;-1 7 1870 di annual report, authorized the issue as required of $17,456,550 additional ~~i 1enn~ylveanfi!1~!ili~~t, an~fft ao~~~te~r~ll the 1e'ased stocks, this being tlie balance of the authorized capital. (V. 54, p. 447.) lines west of Pittsburg. Its stock and $2,500,000 4½1 per cents areDIVIDENDS.-ln 1883, 8¼; in 1884, 7; in 1885 and in 1886, 5; in 1887, owned by the Pennsylvania Railroad Company. 5¼; in 18~8 and 1889, 5 p~r cent yearly; in ~890, May, 3 per ce~t, DIVIDEND'-.-ln 1883, 4 per cent; then none till 1892, when 4 perNov. 2¼; m 1891, May, 3, either cash or non·mterest bearill~ scrip, I cent was paid in March • • • • convertible into stock till August 1, 1891; Nov., 3 per cent; in 1892; 1 May 3 per cent; November 3. BONDS.-Bes1des the bonds given_ above. as. outstanding $1.983,000· of 6s and $533,000 of 4¼s are ht>ld 1.11. the smking fund. ' .' . ):"RICE OF STOCK.-ln Phil_a delphia (price per $~0 share not percent~ The 6 per cent bonds are secured by deposit 0 ,r $4,000,000 of Pittspr1ce)-ln 188~,. 4914@61; m 1885, 4~34'@5618; ill 1886, _513s@6014; ill burg Fort Wayne & Chicago special stock. The gold bonds of 1921 are 1887, ~3¼@60, ill 1888, 52_¼@5618; m ~889, f?014@56; m 1890, ~73s1i> securec1 by a depOSlu in trust or the leases of the Pittsburg Fort Wayne 5_6½1; m 18~1. 495s1i>57¼; m 1892, 531i>u73s; m l893 to Jan. 20, illclu- & Chicago ancl the Cleveland & Pittsburg railroads and ,1,re also guars1ve, 54181i>u 43.1. &nteed as to principal and interest by the PennRylvania Railroad Com BONDS.-This company owns $10,890,950 stock of the Philadelphia pany, and are so endorsed; the trustees of the 'llortgage are W. H ~ WilminITTOn .Ji BaltimoN Railroad, and the fo:ir per cent bonds of 1921 B arnes. John P. Green itnd Henry D. Welsh. In 1892 the company a.re pnrchaseo yearly, if obtainable at not over par, with the surplus guaran t eed certain Pittsburg Cincinnati Chicago & St. L ouis bond sproceeds of Pllila.<lelphia Wilmington & Baltimore di videuds. se e tllat company. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~~;;_ :~e https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE PENNSYLVANIA R.R. AND ITS CONNECTIONS. I.HI f»INVESTORS' SUPPLEMENT. [VOL. LVI. Sub8cr1bers wlll conCer a great Cavor by gtvtng llnm.ediate notice oC any error discovered in the8e Tables. Bonds-Prinol• INTEREST OR DIVIDENDS. RAILROADS. Miles Da.te Size, or Due. Amount Ra.te r,er When Where Payable, and by pal,When of Par Outstanding Stocks-Last; Hor expla.na.tion of column headings, &c., see notes of Cen . Payable Whom. on first page of tables. Road. Bonds Value. Dividend. 4'en6<UX>la, ~ Atlantic-See LOUISVILLE & N.ASHVILL E. 47 .Peoria ~ Bureau Val.-Stk., 8 p. c. rent'l C. R.I.&P. 'Peoria Decatur~ Evans'lrille-Stock .•..•• ..••........ 1st mort. (Peoria Div., Pekin to Mattoo~old. o* i10 1st m. (Evansv.Div., Mattoon to Eva.ns e,) g.c* 128 Beoond mortgage, gold .••••.••............•..•.. o* 244 ~ ~ Eastern--Stook .••.. •.••...•....••..•••••..•. Ind. Bloom. & West. 1st mortgage, pref •...... o&r Ohio Indiana. & Western 1st mort., pref., gold ... o~ P. & E. consol. M. $10,000,000, interest ~ar .. o* 2d OOBsol. mortgage,inoome, non·oumula ve... o Peoria~ Pekin Union-1st mortgage, gold ........ o 2d mortgage, ~ld ......... , ....................... o :Perkiomen-1st ., ser. I (1st l'n) gu. by P.&R.,g .c~ lstM., ser. 2 (2dl'n) g., guar. by P. & R. (end.).c* ,Petersburg-Stock .•.....•.. ...•.......•.............. Guar. pref. stock, 3 per cent, lien prior to mortg. 1st mort. iayable $25,000, due yearly Jan. l)c&r Mort. bon , class A,$200,000 reserved for 1st M. Mortg~ bonds, class B ........................•.. l'Auadelp ia (f Baltimore Central-Stock . .......... Gen.M. (nowlst M.)for$2,500,000,$1,200,000412s 'Phila. ~Erie-Stock ($2,400,000is7p.c. special pr.) Bunb. & E. lst mort. (extended in 1877) ....... c&r Gen. mort., gold, ~ar. by Pa. RR ............. c&r G;eneral mort., go d, ~!1-r. $5,263,000 are 5s ... . r Phila. Germ.&Ohestnut iU-lstM., gu. by Pa. RR.r ..Phila. Germ. tfNorrist'n-Bt'k 12 p.c.rent.,P.&R.RR. Phila. Harrisburg & Pittsburg-1st mort., gold.c*&r d'hiladelphia Newtown & New Yorklstmort., gold, guar.p. &i. (end.)byP. & R .... c* . ... is9o $100 100 1,000 1,000 1,000 100 100 &o. 500 &o. 1,000 1,000 1,000 1,000 100 &o. 1,000 100 100 500 &c. 1,000 1,000 50 1,000 50 1,000 1,000 1,000 1,000 50 1,000 $1,500,000 8,400,000 1,287,000 1,470,000 2,088,000 10,000,000 1,000,000 500,000 8,103,000 4,000,000 1,495,000 1,499,000 799,600 1,125,000 960,800 323,500 124,000 718,000 800,000 2,495,650 2,200,000 10,375,000 976,000 8,680,000 10,018,000 1,000,000 2,246,900 2,000,000 1892 1,000 1,600,000 isso 1880 1886 202 is79 342 202 202 20 20 38 38 59 59 59 59 59 79 79 287 40 287 287 7 29 44 22 1888 1890 1890 1881 1881 1887 1888 .... is69 1881 1881 iss1 is51 1869 1869 1883 EARNINGS.-Tbe total "mileage operated or controlled by this company 18 3,47~perated directly by Pennsylvania Co. 1,149 miles. The · income account bas shown the following results after pay• :ment of all charges: deficit in 1884 of $710,220; deficit in 1885 of -el,094,671: deficit in 1886 of $200,674; in 1887, net profit, $675,516; In 1888, loss, $74,891; in 1889, net profit, $727,802; in 1890, net ~i)rofit, $1,081,958; in 1891 net profit, $1,725,938. lVol. 50, p. 590; V. 53, p. 21; v. 54, p. 38'7, 404,406,444,525; v. 55, p. 5'7, 161.) Pennaylvanta Lebl~h & Ea8tern.-Chartered to build from Tombickers, Luzerne County, Pa., in the anthracite coal district, to ,Port Jervis, N. Y., 109 miles; branches, 25 miles. Stock authorized, ·'$10,000,000; par, $50. (V. 55, p. 463.) Penn8ylvanla & North-western.-Owns Bellwood, Pa., to Irvona, Pa., 26 mJJ.es, and Irvona to Fordham, 41 miles; total, in• -eluding other branches, 77 m. A consolidation Jan. 1, 1890, of the Bells · Gap and Clearfield &Jefferson roads. Dividends have been-in 1890, 5 p. c.; in '91, 5; in '92, Jan., 212; July, 3; in '93, Jan., 3 p. c. Of the $2,000,000 general mortgage bonus authorized, sufficient are held to retire the prior issues, when due. Five percent car trusts due 1893 to 1902, $473,-000, d.ue $60,000 yearly on March 1. In April, 1891, it was voted to inorea.se the stock from $1,660,000 to $2,000,000, for double·tracking, &c. Gross earnings in 1891, $860,332; net, $253,343 ; surplus over :interest, $149,531, against $144,320 in 1890. E. J. Berwind, Pres't, '.Philadelphia,,-(V. 50, p. 37.) Pennsylvania Poughkeepsie & Boston.-Operates from -Sla.tin1Zton, Pa., to Campbell Hall, N. Y., 96 miles, of which three - sections, ag~egating 44 miles, belong to other companies. Connects with lines running to the Poughkeepsie Bridge. Completed in November, 1889. Trustee of 1st mortgage of 1889 is the Holland Trust •· Co. Interest was defaulted January 1, 1891. and in Februa.ry1 H. H. Kingston, of Philadelphia, was made receiver. Receiver's certificates :1or $200,000 have been issu_ed to pay off car trusts. Capital stock, $2,000,000; par, $50. Floating debt July 1, 1891, $1,444,983. In April, 1892, operation of road was undertaken by PhlladelJ.>lua & Reading. whlcb, it is said, will ultimately control or lease 1t. In year ending June 30, 1892, gross earping_s were $197,984; deficit under , operating expenses, $16,629; charges, $237,191; net loss, $253,820. Total deficit to June 30, 1892, $805,236. President, W.W. Gibns, 411 Walnut Street, Philadelphla. (V. 51, p. 609; V. 52, p. 351; V. 53, p. 641.) Pensacola & A.tlantlc.-See LOUISVILLE & NASHVILLE. Peoria & Bureau Valley.-Ownsfrom Bureau Junction to Peoria, Ill., 47 miles. The road was leased in perpetuity April 14, 1854, to - the Chlcago Rock Island & Pacific at a rental of $125,000 per annum. Peoria Decatur & Evansvtlle.-( See Map Evansville ~ 'Ierre Haute.)-Owns from Pekin to Evansville, 235 miles; branch, 6 miles; leases, Pekin, Ill., to Peoria, Ill., 10 miles; tlu·ough Decatur, 3 miles; total, 254 miles. Operated in harmony with the Eva.m1ville & Terre Haute to which was due July 1, 1892, on loan account, $352,122. On -same date bills payable were $77,260 and equipment notes and con·· tracts $352,122. LA.TEST EARNINGS.-From July 1 to December 31, 1892 (6 months), gross earnings were $473,977; net, $239,877; charges, $183,601; bal8Dce, surplus, $56,276. A.NNUAL REPORT.-Year ends June 30. Report for 1891-92 in V. 55, · p. 894, showed gross earnings, $836,815; net, $340,734; total fixed - charges, $331,870; surplus, $8,864, against deficit of $13,526 in 1890-91. (V. 51, p. 570, 6'79; V. 53, p. '711; V. 55, p. 894.) Peoria & Eastern.-Owns from Pekin Ill., to India.navelis, Ind., - 202 miles, and has a lien of $5,000,000 on Springfield D1visio11., Ill• dianapolis w Springfield, Ohio, 141 miles; trackage, 'l>ekin to Peoria, 9; total operated, 352 miles. This road is operated by Cleveland Cincmnati Chicago & St. Louis. HISTORY, LEASE, ETc.-The Ohio Indiana & Western was sold in foreclosure Feb. 20, 1890, and reorganized per plan in V. 49, p. 616. Its suooeMsor? the Peoria. & Eastern, is leased till April 1, 1940, to the Cleveland Cincmnati Chicago & St. Louis, whlch guarantees the interest, but · not the principal, of the first consols, and own.s one-half the $10,000,000 stock, par $100. If the Peoria & Eastern's earnings added to the net in· come (up to $200,000) over operating expenses of the Springfield Division of the Ohlo Indiana & Wes tern exceed the sums necessary to pay t1le Peoria & Eastern's fl.xed charges and to reimburse the Big Fom for all advances up to that time, the surplus i.s to go to the second con· aol. incomes, and any surplus to the Peoria & Eastern itself. BoNDs.-Tbe consolidatfld m0rtgage of 1890 covers, besides the road ownect, the $5,000,000 purchaRe money lien on the Springfield Division. Bee abstracts of the consolidated mortgaige and of the consolidated income mortgage in V. 51, p. 246, and of Ohlo Indiana & Western mortgage, V. 47, p. 201. Due lessee July 1, 1892, $199,062. E.A.RNINGS.-From July 1, 1892, to Nov., 30, 1892 (5 months), gross earnings were $763,859, against $814,566 in 1890-91; net, $179,181, a~insli $233,010; interest, rentals, etc., $184,008, against $189,411, )>a.lance, deficit, $4,827 a~ainst surplus of $43,598. In year ending June 30, 1892, gross earnmgs were $1,833,143; net, $523,434 (against · $235,206 in 1890·91); inter<:st on bonds, $419,120; rentals, eto., $35,399; surplus, $68,915. (V. 53, p. 324; V. 55, p. 461.) Peoria & · Pekin Union.-Owns from Pekin to Peoria, 10 miles on each side of Illinois River; total operated 20 miles. The road is a union .road, and the stock of $1,000,000 was ta.ken by the different Peoria RR. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8 per an. F. & A. N. Y. ,Ch.R.I. & Pao. RR. 6 g. J. & J. 6 g. ~& s. 5 g. M.&N. J:·&-·J. : g. Q.-J. A. & O. April 1 4 6 g. Q.-F. 412g, M.&N. 5 g. Q.-J. 5 g. Q.-J. See text. J. & J. See text. J. & J. J. & J. 8 5 J. & J. 6 A. & 0. ··,r 412.&5 2oncom. 7 6/i'g. 4g.& 412 12peran 5 g. ··--- Feb., 1893 N. Y., Central Trust Co. Jan:·1;·i920 do do Sept. 1, 1920 do do Nov. 1, 1926 Ja.IL • 1,--iooo Apr. 1, 1938 Apr. 1, 1940 Apr. 1, 1990 Feb. 1, 1921 Feb. 1, 1921 Jan. 1, 1918 Jan. 1, 1918 Richmond. Jan. 3, 1893 do Jan. 3, 1893 Ricbm'd and Petersb'g. Jan.,1894-'98 do do July 1, 1926 do do Oct. 1, 1926 N. Y., Drexel, M. & Co. do do do do N. Y., when earned. N. Y., Central Trust Co. do do Pbilad:a, Co. ~~ on L. M.&N. Phila., Penn. RR. Co. ....... Phil a. Of., 233 S. 4th St. A. & 0. Phila., Penn. RR. Co. J. & J. Phil., Pa. RR. & London. A. & 0. Phila., Penn. RR. Co. M.&N. Phila., Penn. RR. Office. Q.-M. Phila., Treasurer of Co. A&015 Phila., Comp'y's office. Nov:1...fall Mob. 15, 1892 Oct. 1, 1897 July 1, 1920 July 1, 1920 May 1, 1913 Dec. 4, 1892 Oct. 15, 1925 5 g. A. & 0. Phil., Phil. & Read. RR. Oct. 1, 1942 companies, and they pay a rental for the use of the road and a.lso pay terminal charges. Bee full description in V. 36, p. 253. Receipts in 1891-92. $598,086; net, $207,227; paid interest, $157,155; dividends, (4 per cent) $40,000; betterments, $5,663; balance, surplus, $4,409. Perklomen.-Owns from Perkiomen Junction, Pa.., to Emaus Junction, Pa .• 39 miles. Sto(lk subscription, $38,040. Reorganized in 1887. There is due Philadelphia & Reading RR. on loan account upwards of $900,000. In year ending November 30, 1891, gross earrungs were $269,393; net, $101,324; interest, $96,230; surplus, $5,641, Petersburg.-Owns Petersburg, Va., to Garysburg, N. C., 59 miles; rents Garysbur&" to Weldon (Seaboard & Roanoke), 2 miles; total, 61 miles. Reorgarnzed in 1877 without foreclosure. Preferred stock is guarantePd 3 per cent yearly, then common receives 3 per cent, then both stocks share pro rata. Dividend on common stock in January, 1892, 3 per cent; in July, 3; in 1893, January, 3 per cent. From July 1, 1892, to Nov. 30, 1892 (5 months), gross ear:aings were $205,607, agst. $197,393 in 1891: net, $90,770, against $95,583. In year endinir June 30, 1892, gross earnings were $532,462; net, $223,905. In 1890·91, gross, $527,644. \ V. 53, p. 8 '79.) Phlladel,wa & Baltirnore Central.-Philadelp¥a to Westchester, 26miles; Wawa to Octoraro, Md.,46m.; Brandywme Br., 1 m.; leased Chester Creek Railroad, 7 miles ; total operated, 80 miles. The Philadelphla Wilmington & Baltimore Railroad holds P,ractically all the $2,495,650 stock, and operates the road as part of its system. In 1891-92 gross earnin~s. $1,026,302; not, $211,442; surplus above charges, $87,903, including interest on deposits, etc., $24,164. Phlladelphla & Erle.-( See Map Pennsylvania .RR.)-ROADOwns road extending from Sunl>ury to Erie, Penn., 287 miles. ORGANIZATION, LEASE, &c.-Formerly Sunbury & Erie. Leased to Pennsylvania RR. Co. for 999 years, and actual net receipts paid as rental. Pennsylvania RR. owned Dec. 31, 1891, $3,501,800 common and $2,400,000 prefened stock and $3,823,000 general mortgage bonds, and city of Philadelphla. (sink. fund) $2,250,000 common stock. STOCK.-Capital stock-Common, authorized, $10,000,000; outstanding, $7,975,000; preferred, special, 7 per cent, $2,400,000; par, $50. DIVIDENDs.-On co'l'.lID.on stock 2 per cent was paid in March, 1892. BONDS.-The general mortgage is guaranteed by Pennsylvania RR. LATEST EARNINGS.-Jan. 1 to Nov. 30, 1892 (11 mos.), gross, $4,855,· 812, agst. $4,782,504 in 1891; net, $1,454,740, agst. $1,731,204. .ANNUAL REPORT.-Tbe report for 1891 in CHRONICLE, v. 54, p. 365, showed earnings as follows : 1888. 1889. 1890. 1891. Gross earnings ........... $4,373,042 $4,689,137 $5,113,,87 $5,201,361 Expenses (incl. all taxes). 2,733,088 2,928,744 3,415,595 3,516,391 Net earnings .......... $1,639,954 $1,760,393 $1,698,192 $1,684,970 Total net income ....... . . $1,655,850 $1,778,573 $1,716,440 $1,70_2,985 Interest on debt .......... $1,168,176 $1,034,470 $1,034,470 $1,042,470 Interest on special stock. 168,000 168,000 168,000 168,000 Interest on equipment... 168,404 174,920 183,614 156,003 Extraordinary expenses . .. ... ... 323,331 . . . .. . . . . . _..... Organization expenses... 8,000 8,000 8,000 8,000 Total disbursements.$1,512,580 $1,708,721 $1,394,084 $1,374,473 Surplus . .. • . . . . . . . .. . . . . . . $143,270 $69,851 $322,356 *$328,512 ~dividend of 2 per cent on com.mtm stock was paid in March, 1892. -(V. 50, p. 2'74; v. 52, p. 2'78; v. 54, p. 365, 406.) Philadelphia Germ.anto-wn & Chestnut Hlll.-In Pblladel pbia. from Germantown Junction, on Connecting Railway, to Chestnut Hill, 7 miles. From May 1, 1883, ltiasell for 30 years to the Pennsylvania Railroad Company, which guarantees 412 per cent on the bonds. Rental, net earnings. Pennsylvania Railroad owns $999,750 of the $1,000,000 stock (par, $50). Gross earnings in 1891, $248,754; net, over expenses and taxes, $83,917 (against $62,317) ; interest, $45,000; rentals, eto., $4,330. PhiladelpWa Germantown & Norrlsto-wn.-Philadelphia, Pa., to Norristown, Pa., 17 miles; Germantown Branch, 3 miles ; Plymouth RR., 9 miles; other, 4 miles; total, 34 miles. Leased November 10, 1870, to Philadelphla & Reading Railroad for 999 years at a. rental of $269,623 and $8,000 yearly for organization expenses. Pb1Jadelp1da Harrisburg & Pittsburg.-Owns from Harris burg, Pa,, to Shlppensburg, on the Western Maryland Railroad, 41 miles, with branch, 3 mile. Opened in April, 1891, and leased for 999 years to the Philadelphla & Reading, which by endorsement on each bond. guarantees the bonds, principal and interest. Trustee of mortgage is Pennsylvania Company for Insurance on Lives, etc. The rental is $200,000. which pays interest on bonds and 5 per cent on stock. Stock, $2,000,000; par, $50. (V. 51, p. 383,459; V. 52, p. 124, 643.) · PhiJadelphla J\lewto-wn & Ne"' York.-Owns from Second and Butler streets, Philadelpllia, northerly to Newtown, with branch under construction from Olney to connection with Tabor branch of Philadelphia, & Reading, 22 miles in all. Consolidated with Philadelphia & Newtown Connecting RR. in 1892, and above mortgage issued to retire $700,000 old 6s, and to complete and equip the line. The first 5s are endorsed with Philadelphia & Reading's unconditional guaranty of principal and interest . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE ear Or.Jc. PHILADELPHIA & READING RAILROAD AND ITS CONNECTIONS. INVESTORS' SUPPLEMENT. 114 [VOL. LlI~ Sub11crlbers will con.fer a great Cavor by giving lnunedlate notice oC any error discovered tn the11e Tablel!I. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. PAila<J4phia d! .Reading-Stock ...................... ri 1st mortgage, $ and £ ........................•... c Mortgage loans of 1844, 1848 and 1849 .......... c Mortgage loan of 1857 convertible... . ........... c Mortgage loan of 1868 .........................•.. c ·Consol mort,gaf.e ($8,162,000 are i,;rold 6s) ....... c Impr'tM., g.,s .. drawn at 100. Bee V. 48, p.260.c Consol. M.of 1882, ~old, stamped, pay. atnotice.c~ •General mortgage $100,000,000), iold ..... . c*&r '1st pref. inc. M., not cum. ($24,400, 00) gold ... c* 2d pref. inc. M., not cum. ($22,500,000) gold ... c* 3d pref. inc. M., not cum. ($5,050,000 conv.) g .. c* ·Terminal M., ~old, gu. by P. & R. Term. RR .. c*&r Ten-year sinking fund gold loan. red. at 100 .. . c* .Delaware River Terminal Pur. Money M.i/.old.c* Delaware River Term. Ext. Pur. Money ., g .. c* Collateral trust bonds ($10,000,000) gold ....•.... Deferred incomes (cominff after stock) ............ -Oar trust, Series A, 1100, 00 due eaoh F. & A • •c* ·Car trust, Series B, 51,000 due each M. & 8 .•.. c• ,car trust, Series C, 130,000 due Q.-M ........•. c* -Oar trust, Series D, 75,000 due Q.-F., gold .... c* flcuipment notes ..........•...............•........ INTEREST OR DIVIDENDS. Bonds-Pr1nc1• Miles Date Size, or Amount pal,WhenDue. of of Par Outst a ndino Rate per When Where Payable, and by Stocks-Last Road. Bonds Value. ° Cent. Payable Whom. Dividend. ·--··-· -·-· ---- -··· ...... ---· 327 327 327 327 ..... .... ---· .... .... .... .... .... .... .... .... 0 .... ,p_ :l~~~f& f~~ii-~1:!:e ·moii.ei ·&· i-eai' esiate M: .... Do Do do do guar. extended in 1892, gold. guar. extended in 1893, gold. .... ..... ........ $50 $40,105,361 ..6. J. ..&..J. Philadelphia & London. $&£ 1,512,700 1,000 954,000 6 J. & J. Phila., Of., 227 8. 4th St. 500 &c. 79,000 412 J. & J. do do 1,000 2,700,000 7 A. & O. do do 200 &c. 18,811,000 6 g. &7 J. & D. do do 1,000 P,364,000 6 g. A. & O. do do 500&c. 5,767,042 5 g. M.&N. do do 1,000&c 40,372,000 4 g. J. & J. do do 1,000 23,971,000 5 g. Feb. 1 5 p. ct. paid. Feb., 1893 1,000 16,176,413 5 g. Feb. 1 5 p. ct. paid. Feb., 1893 1,000 18,464,000 5 g. Feb. 1 5 ct. iaid. Feb., 1893 1,000 6,000,000 5 g. Q.-F. P · a., rov. Life & Tr. 1,000 ~.000,000 5 g. F. & A. do do 1,000 700,000 5 g. M.&N. Phila., Guar. Trust. 1,000 1,220,000 5 g. J . & J. Philadelphia. do do g. J. & J. <n 25,568,090 1,000 200,000 6 FiS&A15 Philad Union ~~st Co. 1,000 204,000 M.& 8. 6 0 1,000 570,000 Q.-M. Phila., Fidelity Tr. Co. 5 1,000 2,080,000 • 5 g . Q.-F. Phila., Prov't Life & Tr. . ... 3,485,306 (7) ...... . .......... 2,052,090 '72-;84 500.&c. 227 8. 4th St. } 5:·6&7 Various Phila., 500 &c. }12145,106 6 g. Semi-an do do 500 &c. 6 g. do do 1843 1844-9 1857 1868 1871 1873 1882 1888 1888 1888 1888 1891 1892 1892 1892 1892 1882 1883 1884 1887 1890 1891 CiJ. l6°'i~. Philadelphia & Keadlng.-(See MapJ-LINE OF ROAD-Owns ma.in line, Philadelphia to Mount Carbon, Pa., 98 miles; branches ,ewned, 229 miles; leased lines, 552 miles; roads controlled, 293 miles; -total operated November, 1891, 1,173 miles. In September, 1892, the Port Reading RR. (which see) was completed. '1t extends 20 miles from Bound Brook to Staten Island Bound (near :New York), where ex.tensive terminals will be established. Control of the Poughkeepsie Bridge system was acquired in Febru..ary, 1892. Bee Philadelphia Reading & New England and V. 54, p. 203. The Central RR. of New Jersey and the Lehigh Valley RR. were 1leased early in 1892, and on Sept. 1, 1892, the LAhfgh Valley openPd a ,new line to Buffalo, but in August. 1892, the Central was ordered by 'the court to take possession of its road-see below. A through connection with the Pacific via the lakes and the Great Nortbnn RR. was secured on Sept. 1, 1892, by consolidation of the Lehigh Valley Transportation Company with the Northf>rn BB. Co., :the Great Northern Ry's l a ke connection. Bee V. 55, p. 322. A large interest in the Boston & Maine and New York & New En~1.and railroad companies passed under the control of Reading parties m Ootober, 1892. See V. 55, p. 704, 723. HISTORY, LEASES, &c.-The Philadelphia & Readin~ Company was -chartered April 4, 1833. Itleases anumber of roadl!I m Pennsylvania; also, the North Pennsylvania Railroad and Delaware & Bound Brook, torming the line from Philadelphia to New York. In May, 1880, receivers were appointed and held possession till May, 1883. In June, 1884, the company again went into receivera' hands, and so remained till January, 1888. In February, 1886, the DrexelMorgan syndicate effected a reorganization without foreclosure. (See .1>lan V. 43, p. 747). Voting trust expired Aug. 1, 1892. In February, 1892, the Central RR. of New Jersey and the Lehigh Valley Railroad were lease.I for 999 years, both properties being -operated by the Reading, which guaranteed the dividends on their stock. At the same time an interest in the Delaware Lackawanna & Western was acquired by parties interested in the new arrangement, and Mr. Maxwell, Vice-President of the Reading, was elected to the same office in the D. L. & W. With the Lehigh Valley was secured the ,control of the Lehigh Valley Coal Co. As to the legal proceedings regarding the leases see references to CHRONICLE below. In August, 1892, Chancellor McGill, of New Jersi-y, dt>cided against the legality of the lease of the c ~ntral of Nt-w Jt>rSPy1 and ordert>d that ,company to take posstssion of its property, which 1t did; and in Feb-.ruary, 1893, the lease was abrogated. A traffic agreement with the Buffalo Rochester & Pittsburg was made in May, 1892. Bee V. 54, p. 799. CO.AL PROPERTIES.-The Philadelphia & Reading Coal & Iron Co. was formed (Dec. 12, 1871,) for the purpose of ownmg and working the extensive coal properties of this company The Philadelphia & Reading fRR. Co. owns all the stock ($8,000,000) of the Coal & Iron Co., and had Invested in it November 30, 1891 (as per balance sheet), $69,453,181 over liabilities. In December, 1892, it was announced that arrangements had been made to have the Finance Company of Pennsylvania •become the commercial agents of the Coal & Iron Co. Bee V. 55, p. 1111. The estates of the company aggregate upwards of 194,000 .acres, classified as follows : Coal lands owned (acres) .. . . 95,1441 Timberlandsowned(acres) 70,489 Coal lands leased (acres).. . . 7,429 Iron ore lands (acres)...... 21,000 g or:; July,"i9io July, 1910 July, 1910 Oct. 1, 1893 June 1, 1911 Oct. 1, 1897 May 1, 1922 Jan, 1, 1958 Jan. 1, 1958 Jan. 1, 1958 Jan. 1, 1958 May 1, 1941 Feb. 1, 1902 May 20, 1942 July 1, 1942 Jan. 1, 1912 Irredeemable, $200,000 y'rly 102,000 y'rly 120,000 y'rly 300,000y•r y . ........ 18oin.o·ioo4, Various, 1897 Jan. 1, 1898 all sources, after paying operating expenses, taxes and existing rentals, guarantees and interest charges (but not fixed charges of the same soru subsequently created) ; also, after deducting expenses of "renewing, replacmg and repairing its said property and premises, including such reasonable improvements thereof and additions thereto as shall be neoessary for the safe, proper and economical operation of the same. 0 (V. 47, p. 256.) In February, 1889, the first and second preference bonds received full interest, and the third 212 per cent. In 1890 only 3s of 1 per cent was paid on the first incomes; in Feb., 1891, nil; in Feb., 1892, 5 per cent on firsts and 418 per cent on seconds; in February, 1893, full interest on all three classes. The te1·minal -mortgage bonds for the construction of the Terminal RR. are the Reading's own bonds, and are guaranteed by the P. & R. Terminal RR. Co. They are also secured by a mortgage upon all the property of the Terminal Company and by a traffic contract between Reading and the Terminal Co. The trustee is the Provident Life & Trust Co. of Phila. Amount authorized, $8,500,000. Bee V. 53, p. 391. The ten-year sinking fund loan due 1902 is secured by $2,196,000 ooal land mortgage bonds deposited with the Penn. Co. for Insurance, &o., the trustee. Thebonds are subject to call at var and interest. The Delaware Rive,• Te1·minal and Terminal Ex.tension mortgages were issued to provide funds for acquiring water front terminal property upon the Delaware River in the City of Philadelphia. The bonds are the direct obligation of the Reading and it is said represent the actual cost of property in the business centre of Philadelpia. As to the collateral t1"'Ust bonds of 1892 see below and V, 56, p. 43. The par value of the collateral is $15,584,000 and the income therefrom is said to exceed the interest on the bonds . The deferred income bonds have no claim for payment of the prineipal, but after 6 per cent has been paid on Reading stock they are entitled to further earnings up to 6 per cent, and thereafter rank pari passu with common stock. Although the nominal issue of these deferred bonds was $34,300,000 and the "nominal par'' value of bonds as given by the annual report is $25,568,090, the company's liability on the same J.s put at $7,670,427. V. 54, p. 329. FINA.i.~CES.-The alliance with the Lehigh Valley, etc., brought under one management a large proportion of the anthracite coal production of the country, and had an important effect on the company's earnings. The alliance with the Boston & Maine, also in Oct., 1892, was expected to increase the market for the Readints coal. In September, 1892, $1,891,000 general mortgage 4s were ISsued for improvements, etc. Seven per cents for $2,700,000 mature Oct.1, 1893. In January.! 1893, a negotiation was made by which the company obtained about ~,500,· 000, about one-half this through sale of collateral trust bonds of 1892, and remainder as a loan wir.h collateral trust bonds of 1892 as collateral. See V. 56, p. 43. Full interest was declared payable on all three classes of incomes in January, 1893. ANNUAL REPORT.-Fiscal year ends Nov. 30. Annual meeting is held second Monday in January. Report for 1891-92 in V. 56, p. 59, 80, 95. Years ending Nov. 301889-90. 1890-91. 1891-92. Passenger traffic.......... $3,898,291 $4,045,862 / Coal traffic.......... . . . . • • 9,305,536?. 17 250 083 Merchandise traffic....... 7,210,380 5 ' ' $22,986,248 Miscellaneous. ............ 448,480 482,694 United States mail.... . ... 71,830 75,162 Total area · (acres) ..................... . ..•.............••...... 194,062 lncome from stks. & bds., 1,337,817 1,231,963 1,257,307 from steam colliers, &c. CAPITAL ST0CK.-The dividends paid on Philadelphla & Reading -stock from 1870 to 1875, inclusive, were 10 per cent each year; in 1876 $Z2,166,480 $23,111,109 $24,324,065 rota.I earn' gs RR. Co .. 212 per cent was paid and nothing since. Third preference bonds for Operating expenses ....•. 13,656,828 13,901,188 13,176,631 --$5,050,000 werd convtrtible into common stock. PRICE OF STOCK.-In 1886, 1819·@73 7s; in 1887, 34@71 !\I.; in 1888, $9,265,292 $9:934:,478 $10~667,237 Net earnings RR. Co .. 44¼@69; in 1889. 36@50 inl890, 2614@4812; in 1891, 25 7s@43¾.; NetearningsC. & I. Co ..•• df.151,158 482,665 1,273,148 '1n 1892, 38@65; in 1893, to Jan. 20, inclusive, 48¾.@5318. $8,114,144 $10,417,143 $11,940,385 Total net both Co's .••. GUA.RA.NTIES.-The Reading i;ruarantees bonds of the following com2,830,744: 2,838,351 2,840,098 •'.Panies on terms fully described in the statement for each-which see: Rentals RR. Co .....••...•• 4,351,312 4,502,882 4,669,992 Allentown Terminal, Atlantic City, Catawissa, Colebrookdale, Dela- lnterest RR. Co .....•.....• 822,126 815,526 1,060,828 ware & Bonnd Brook, East Pennsylvania, North Pennsylvania, Per- Interest Coal & Iron Co ... 340,107 395,423 187,980 \kiomen, Philadelphia Newtown & New York, Philadelphia Harrisburg Sin.king fund Coal & I. Co.. & Pittsburg, Philadelphia Reading & New England, Port Reading, $8,344,289 $8,552,182 $8,758,898 Total deductiollS ....••• .Schuylkill & Lehigh and Shamokin Sunbury & Lewisburg. It was also guarantor June 15, 1892, on $11,479,000 of the bonds of the P. & R. Balance, both companies. def.$230,155sur.fl,864,96lsur.$3,181,487 -Ooal & Iron Co. Bee also Lehigh Valley RR. as to lease. TRAFFIC AND EARNINGS OF RAILROAD .A.ND COAL &; IRON COMPA.NIES BONDS.-The consolidated 5si of 1882 are payable at par at any time. The general mortgage, and first, second and third preference income . Ooal from Ooal carried {trustee of all, Pennsylvania Company for Insurance on Lives, eto. 1 of Year (tons of M'1·c"11:andise lands of o. & O:,,oss re- Net e'rning1 Philadelphia) cover in addition to the 327 miles of road owned the title end'g 2240 lbs.), c a ~ one I. co., tons ceipts bf!lh of both com·to leased lines (mostly leased for 999 years) all real estate, rolling stock Nov . on,e mile. mile. 2240 lbs, co1npanies. panies. ..and vessels of the company, $8,000,000 Philadelphia & Reading Coal & - - -1- - - - - - - 1 - - - - - - 1 · - - - - - i · - - - - - l - - - - Iron Company stock, as well as the real estate of that company, and 1885.. 665,018,573 359,526,194 6,040,178 $34,343,501 $7,926,304 subject to a mortgage to Philadelphia & Reading Railroad Company 1886.. 727,179,462 398,862,487 6,209,202 35,683,096 7,335,603 dated July 1, 1874, stock in other coal and iron companies. An ab 1887.. 835,308,697 444,614,423 6,901,497 41,188,737 12,430,054 straot of the general mortgage was in the CHRONICLE, V. 46, p. 679, and 1888.. 848,257,474 435,904,463 6,732,486 39,638,990 9,677,988 of the preference income mortgages in V. 47, p. 141 and 142. Tllird 1889.. 879,717,468 485,690,228 7,992,819 6,614,127 38,355,601 ll)reference convertible bonds are stamped with an agreement making 1890.. 976,587,989 591,379,912 7,338,472 41,096.224 8,114,104 -them convertible at option of holder into com. stock. Bee V. 50, p. 276. 1891.. 1,109,706,524 570,586,877 8,080,463 44,422,843 10,417,143 In the income mortgages net earnings are defined as the profits of the . . . • . . . • . . 60,881,829 11,940,385 ·········· •·•······· tl'allroad company for each fl.seal year ending Nov. 30 derived from 1892.. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 MAP OF THE PHILADELPHIA, READING ~ NEW ENGLAND R.R. AND ITS CONNECTIONS. CROSSING THE HUDS ON B Y THE . POUGHKEEPSIE BRIDGE. 116 INVESTORS' SUPPLEMENT. (VOL. LVI. Subscribers will confer a great favor by gJvlng irnlllediate notice oC any error discovered in these Tables. I INTEREST OR DIVIDENDS. iBonds-PrinciRAILROADS, Mlle, Date Size, or A.mount pal,WhenDue. Par of For explanation of column headings, &c., see notes of Outstanding Rat..- per When Where Payable, and by Stocks-Last Cent. Payable on first page of tables. Whom. Dividend. Road. Bonds Value. l?,,ila. Read. tf New Eng.-Pref. stock ($2,000,000) 1st mortgage, gold (See text.) §uar. p. & i. ..... c* Do (4 per ct. till Sept.' 5; then 5 p. c.).c* Inc. M, non-cu., Ser..A,$1750,000; B,$2100,000. c" Dutchess County RR. 1st mort., gold. See text.c* Phil,a,. tt Trenton-Stock 10 p. c. rental, Penn RR . . Philad~hia Wilmington tf Baltimore-Stock . . _.... Plain onds, s. fun $16,000 yearly,notdrawn .. r Pl!loin bonds,s. fund$20,000 yearly, not drawn .. r Plain bonds ................. _...... _.. __ ..... _..... r Pla.in bonds........................................ r Plain bonds ........................................ r Plain bonds, gold .................................. r Piedmont-1st mortgage .. ......... .................. ~,:::::tr~aB!mbe~iaiid..:.:isi·inoi-iiage·,"jo1ci:::: c* Pine Oruk-lst mortgage, guar. prm. an int ..... r PUt,s"burg Akron <I: W.-lst M. $3,630,000, gold ... c* PUtslYug__ Ohartie1·s & Youjhioghen11-1stmortgage. ; Gen. . $1,000,000, ~ol , gu. p.&1. (end.) See text. PUu"burg Oincinnati C icago tf St. Louis-Pref. st'k { Cldo. & G~ East. 1st M. (Chio. to Logans,Eort) .. o• CoL&Ind. Cent. lstM. (Colum. to Ind. br.).o* Col. & Indianapolis Central 2d mort~e ..... o* Union & Lo~ansp'tlstM.(U'nCityto gans.)o* Chio. St. L. & ltts. cons. M. ($22,000,000) gold.o* Cincinnati Richmond & Chicago 1st mortgage. . . Jeft'nvilleMad.&In.lstM. (s.f.$15,000dr'n at llO)o 2d mortgage ....................... ·- ............ o Holllday's Cove Railroad 1st mort~a~i.8' ........ o Bteub. & Ind., 1st mortgage, exten e in 1884.r Pitts. C. & St. L., 1st oonsol. mortgage ......... o&r 1 I ..... 58 ,. 58 58 12 39 --·.... .... .... .... .... .... .... ---· 29 75 105 16 16 ·-·· i892 1892 1892 1890 -··· i875 1880 1887 1887 1891 1892 ·--· .... 1886 1885 1890 1882 1892 117 1863-5 187 1864 208 1864 93 1865 580 1883 36 1866 222 1866 222 1870 1 1863 116 1864 215 1868 $:!,OOU,000 ..... -··· 4 g. F. & A. Phila. of,221· s: 4th St. 3,750,000 $1~000 4-5g. M.& N. 1,000 2,500,000 do do 5 g. Oct. l 1,000 3,850,000 Phila.-when earned. 6 g. J. & D. Pb.Ha., Phil. & Read.RR. 350,000 1,000 100 1,259,100 lOperan. Q.-J. Phila., Com~any's Office 50 11,819,350 See text. J. & J. Phila., 233 . Fourth St. 1,000 6 .A. & 0. Phil.Of.; Bost. ,Kid.Peab 800,000 1,000 1,000,000 5 J. & D. do do 4 1,000 1,000,000 .A. & o. do do 1,000,000 4 1,000 M.&N. Phila., 233 s. Fourth St. 1,000 930,000 4 J. & J. do do 4 g. .A. & o. 1,000 1,000,000 do do . ... 500,000 6 A.. & o. . ... ....... 4 ....... .A. & 0. ·--5 g. F. & .A. New York.& Baitimore. 1,000 650,000 1,000 3,500,000 6 J. & D. N. Y. Gd. Cent. Station. 1,000 2,450,000 5 g . .A. & o. New York. 320,000 500 &c. 6 F. & .A. Pittsburg Office. 4 g. .A. & O. 1,000 380.000 do do 100 22,421,249 See text Semi-an N.Y.,Farmers' L'n & Tr. 1,000 223,000 7 .A. & o. lN. Y., Union Trust Co. 1,000 2,631,000 7 J. & J., do do 1,000 780,000 7 M. & N. do do 1,000 715,000 7 do do A.. & 0.1 1,000 1,506,000 5 g . .A. & o. do do 552,000 1.000 J. & J. 7 do do 2,390,000 1,000 7 .A. & O. N. Y., Farm. L. & Tr. Co. 1,995,000 1,000 J. & J. 1 do 7 do 120,000 1,000 6 F. & .A. Phila., Penn. RR. Office. 1,000 3,000,000 5 J. & J. N. Y .• Nat'l City Bank. 1,000 6,863,000 7 F. & Phila., Penn. RR. Office. -(V. 53, p. 126,157,290, 391, 407,408,475,641, 793; v. 54, p. 118• 203, 243, 276, 288, 329, 345, 367, 410, 444, 486, 525, 598, 643, 665, 701, 721, 762, 799, 867, 887, 906, 965, 1010; V. 55, p. 100, 147, 161, 178, 216, 331, 332, 374, 421, 463, 545, 639, 680,704, 723, 857, 927, 996, 1111; v. 56, p. 42, 43, 59, 80, 82, 83, 85.) Philadelphia Reading & New- England.-(See Map)-RO.A.D -This company owns from Campbell Hall, crossing the Hudson River .at Poughkeepsie by its own bridge, to Silvernails, 58 miles; and leases and controls Hartford & Conn. Western, Hartford to Rhineclill', 108 miles; total, 166 miles; also assumed lease of Dutchess Co. RR .. from Poughkeepsie to western terminus of the N. Y. & New England RR. at Hopewell June., 12 miles, but in January, 1893, the Dutchess Co. was placed temporarily in receiver's hands pending settlement of certain claims. See V. 56, p. 82. . ORGANIZATION.-.A consol. in July, 1892, of the Central New England & Western and the Poughkeepsie Bridge companies, which went into receiver's hands and were reorganized by plan in V. 54, p. 597, the Poughkeepsie Bridge being first sold in foreclosure June 30, 1892. STOCK-The common stock is $4,600,000, all owned by the Philadelphia & Reading, which operates the property. Preferred stock is entitled to dividend up to 5 per cent. BoNDB.-The fir t mortgage is for $7,250,000, both principal and interest being guaranteed by the Philadelphia & Reading; of the a.mount authorized, $1,000,000 fives are reserved for future use, and of the bala.nce $3,750,000 are 4 per cent bonds and $2,500,000 bear 4 per cent for first three years, thereafter 5 per cent. .All the mortgages Guaranty Tr. & Safe Deposit Co., trustee), cover $1,390,000 Hartford & Conn. Western stock, etc. The provisions of the mortgage resp .. cting payment of interest on the incomes were in V. 55, p. 463. The Dutchess Co. bonds were ~uaranteed principal and interest by P. R. & N. E., which owns a ma.iority of its stock. .As to• arnings see V. 56, p. 85; (V. 54, p. 887; v. 55 p. 177, 216,463,544,680, 724.) Philadelphia & Trenton.-Owns from Kensington, Pa., to Morrisville, Pa., 26 miles, and Tioga Branch, 1 mile; leases Trenton Bridge Vonnecting Railroad, 7 miles, and Frankford & Holmesburg Railroad, 4 miles· total owned and leased, 39 miles. On December 1, 1871, it was leased with the United Companies of New Jersey for 099 years to the Pennsylvania Railroad, at 10 per cont on stoek. Philadelphia ,-.•n111.lngton & Baltlrnore.-Mileage as follows: Philadelphia Wilmington & Baltimore Railroad, 117 miles; Philadelphia & Baltimore Central, 80 miles; Delaware Railroad, 117 miles; Queen Anne & K:ent Railroad, 26 miles; Delaware & Chesapeake 54 miles; Vambridge .& Seaford Railroad, 27 miles; Delaware Maryland & Virginia 98 miles ;··-Washington Southern, etc. 130; total operated, 648 miles. Owns practically all the stock of the Philadelphia & Baltimore Central. DIVIDENDS.-.From 1868 to 1887, inclusive, 8 per cent was paid; in 1888 and 1889, 7; in 1890, 6; in 1891, 6; in 1892, Jan., 4; July, 3; in 1893, Jan., 4 p. c. In .April, 1881, nearly the whole stock was purchased by Pennsylvania. Railroad, which now holds $10,890,950. BONDB.-The $700,000 of 6 per cents due Oct. 1, 1892, were paid and $1t000,000 4s issued for refunding, etc. The bonds are all to be securoo by any mort. which may be issued on the road. EARNINGS.-Jan. 1 to March 31, 1892 (3 month ), gross $2,052,821, ag'st $1,528,694 on 518 miles in 1891; net, $355,894, against $273,950, .ANNUAL REPORT.-Year ends Oct. 31. Report for 1891-92 in V. 56, ;p. 126, showed gross earniJ?-g!> $9,437,802; net, $2,162,627; surplus over charges, $1,033,183; d1V1dends, $827,355. (V. 56, p. 126). Piedmont & Oumberland.-Road extends from Piedmont, West Va.., to Cumberland, Md., 29 miles. It connects the West Virginia Central & Pittsburg RR., by which it is operated, with the Pennsylvania RR. system, and has a traffic contract guaranteeing 5 per cent of gross earnin<>'S to a-nd from this road over the Pennsylvania Railroad, which owns $'200,000 of the $650,000 stock (~ar $50) and $100,000 bonds. In 1891, gross, $212,757; net, $89,925; rnterest, etc., $39,705. Pine Oreek.-Owns from Stokesdale Junction to Newberry Junction, Pa., on the Fall Brook Road, 75 miles. Leased to the Fall Brook Railway Co., forming a connection between Philadelphia & Reading lines and New York Central; bonds are guaranteed by these companies .and the Corning Cowanesque & .Antrim (now Fall Brook Ry. Co.) on the eondition that guarantors shall advance money for interest if needed and take second mortgage bonds for such advances. There are $142,000 seconds due in 1932, and June 30, 1891, bills payable $357,658. Stockt $1,000,000 (par, $50), of which July 1, 1892, N. Y. Central ,ownea $999,000. In 1890-91 lessee's report showed gross earnings, $770,006; net, $31,809; rent of road, &c., $232,674; deficit, $200,865. Lessors report in 1890-91: Rental, &c., $255,077; interest, &o., $262,· 53; deficit, $7,775; total deficit to July 1, 1891, $390,515. Pittsburg Akron & Western.-Owns .Akron, O., to Delphos, 165 miles; completed in 1892. Stock authorized, $4,230,000 ; par, $100. Pittsburg Chartiers & YougbiogPny.-Owns from Chartiers to Beechmont and branchei;i, 17 miles in all. STOCK authorized $1,000,000; outstanding, $700,000, owned jointly by puarantors men: 11oned below. TRUSTEE of general mortgage for $1,000,000 is Fidelity Title & Tru t Co. of Pittsl:urg. Of the 4 per cents issued, or to be issued, ~n~-half.are. to be endorse~ with the guaranty of the Pittsburg Cincmnat1 Ch10ago & St. Lorns, the other haJf with the guaranty -Of the Pittsburg & Lake Erie. They are not subject to call before https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A., 1: Nov.· "i942 Nov. 1, 1942 Oct. 1, 1952 June 1, 1940 Jan., 1893 Jan. 2, 1893 .Apr. 1, 1900 June 1, 1910 .Apr. 1, 1917 Nov. 1, 1922 Jan. 1, 1926 Oct. 1, 1932 March, 1928 Maro1i 1928 .Aug. , 1911 Dec. 1, 1932 .Apr. 1, 1940 Feb. 1, 1902 .Apr. 1, 1932 Oct. 25, 1892 1893 & 1895 Nov., 1904 Nov., 1904 Dec., 1905 Oct. 1, 1932 July 1, 1895 Oct. 1, 1906 July 1, 1910 Feb. 1, 1893 Jan. 1, 1914 .Aug. 1, 1900 maturity. EARNINGS in half-year ending June 30, 1892, were, gross, $76,508; net, $23,186, against $11,132 in 1891. (V. 56, p. 127.) Pittsburg Olnclnn3:tl Olllcago & St. ~ouls.-(See Ma,P..)Owns Pittsburg, Penn., Vla Columbus, 0., to Chicago, Ill., 504 miles; Rendcomb Junction (near Cincinnati) to .Anoka Junction, Ind., 166 miles; Logansport, Ind., to Illinois State Line, 60 miles ; Bradford Junction, 0., to Indianapolis, Ind., 104 miles; Indianapolis to Jefferson ville (opposite Louisville, Ky.), 108 miles: branches, 140 miles; total owned, 1,082 miles. Trackage: Lake Erie & Western, Indianapolis to Kokomo, Ind., 55 miles; Louisville Bridge Co., 212 miles; terminal tra-oks in Columbus and Indianapolis, 1 mile; Cin. Ham. & Dayton RR., 119 miles; total trackage, 60 miles. Total system proper, 1,142 miles. Le~es: Chartiers R.ailway., 23 miles;_ Little Miami and depen":enoies, Cinmnna.ti, 0., to Sprrngfl.ela, 0., 84 miles, and Columbus, O., VIa Dayton, to Richmond, Ind., 108 miles; Pittsburg Wheeling & Kentucky, 28 miles; Cincinnati Street Connecting Railway, 3 miles; Englewood Connecting Railway in Chicago, 2 miles; other lines, 5 miles; also has a joint interest with Terre Haute & Indianapolis in tho St. Louis Vandalia. & Terre Haute, Indiana State Line to East St. Louis, 158 miles: t-otal leased, 411 miles. Grand total, 1,553 miles. ORGANIZATION, &c.-This company was formed in 1890 by consolidation (per terms in V. 50, p. 875) of the Chicago St. Louis & Pittsburg the Jefferson Madison & Indianapolis, the Cincinnati & Richmond an:i the Pittsburg Cincinnati & St. Louis. Controlled by Pennsylvania Co. and Penn. RR. Co. through ownership of stock. CAPITAL STOCK.-The stock authorized is: Common, $45,000,000; preferred, $30,000,000; par, $100. Outstanding Jan. 15, 1893, common, $24,190.334; preferred, $22,421,249; also held in reserve for stocks old com pa.mes unexchanged, common, $679,635; prefe1 red, $704,221. Stock listed, but not all actually issued, common, $25,539,. 300, and preferred, $24,000,000. The preferred stock is "non-cumulative and entitled to a dividend of 4 per cent per annum out of the net earnings as declared by the Board, with the right after 3 per cent has been declared on the common to an additional 1 per cent, making 5 per cent in all." .After 5 per cent has been declared in any year on both common and pueterred, the two stocks share pro rata. DIVIDENDS on preferred: In 1891, May, 1 per cent; November, 2 per cent; in 1892, March, 2 per cent; October, 2 per cent. PRICE OF STOCK.-Common stock: In 1890, 12'@14; in 1891, 121211> 29¼; in 1892, 191v305s; in 1893 to Jan. 20, inclusive, 19'@20. Preferred stock: In 1890, 50@55; in 1891, 48'@6834; in 1892, 57~ '@6738; in 1893 to Jan. 20, inclusive, 605s'lv6134. EXCHANGE OF STOCK.-The consolidation of constituent companies was on the follow in~ basis: Pittsbur~ Cincinnati & St. L. Railway first and second pref. and common receivrng $100 of new preferred for two shares ($50 each) of old stock; Chicago St. Louis & Pittsburg Railroad preterred receiving $66 66 new preferred and $33 34 new common for each $100 share or old stock; Chicago St. Louis & Pittsburg old common, exchanged for new common, share for share; Jeffersonville Madison & Indianapolis Railroad stock $50 new preferred and $50 new common in exchange for each $100 old stock. Unexohanged Dec. 31, 1892: Pittsb. Cin. & St. L. common, $534,450; Chio. St. Louis & Pit~sb., common, $638,267, and preferred, $98,003; Steubenville & Indiana, common, $92,239; other, $8,350. In Feb., 1892, a stockholder of the Pittsburg Cincinnati & St. Louis who declined to come into the consolidation had his stock valued at $65 per share by a. board of arbitrators. The case has gone to the Supreme Court. · BOND .-The consolidated mortgage for $75,000,000 (Farmers' Loan & Trust Co. of N. Y. and W. N. Jackson trustees) covers all the railroad properties and equipment acquired, or to be acquired, as well as its franchises. Coni;iolsfor$20,933.000 are reserved for the purpose of retir~$ all sectional bonds. The Railway Company has agreed that it will, at the time of the maturity of the latter, pay them otf, to tile end that the consolidated mortga~e may become the first lien on the whole property. The remainder of the consolidated mortgage bonds are to be issued from time to time for improvement of the company's property, the purchase and construction of additional railway and for other lawful purposes. The series A (Nos. 1 to 10,000, both inclusive) and series B Nos. 10,001 to 14,000, both inclusive, equaling $14,000,000 in all, are guaranteed unconditionally as to principal and interest by the Pennsylvania Company, in accordance with the vote of its Board of Directors, and are so endorsed. Series B Nos. 14,001 td 20,000, and series C, Nos. 20,0<H to 22,956, inclusive, had not been guaranteed as late as Dec. 31, 1892. The three series are all equally secured. See adv. CHRONICLE May 21, 1892. EARNINGS, FINANCES, &c.-The interest charge for the year 1892 was $2,323,594, a saving of $34.431 against 1891, as a result of the refunding of prior bonds into consol. 412s. From January 1 to Dec. 31 (12 month ) in 1892 gross earnings showed an increase of $1,285,417 and net an increase of $106,662. .ANNUAL REPORT. --Report for 1891 was in CHRONICLE, V. 54, p. 885. Year ending Dec. 31. 1880. 1890. 1891. Miles operated (system proper) 1,144 1,144 1,142 Gross earnings .................. $13,981,934 $15,452,932 $14,895,591 Operating expenses ...... .. .... 10,458,799 11,465,489 10,939,808 Net earnings ................ $3,523,135 ----$3,987,443 $3,955,783 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PITTSBURGH, CINCINNATI, CHICAGO & ST. LOUIS RAILWAY. lNVESTORS' SUPPLEMENT. 118 (VOL. LVI. Subscribers will conCer a great Cavor by giving bnmediate notice of any error discovered In these Tables. Miles Date Size, or Amount INTE i REST ,◊R DIVIDENDS, ~~~. of of Par Outstanding Rate per When Where P,a,yable, and by Stocks-La.et Road. Bonds Value. Cent. Payable Whom. Dividend, RAILROADS. ! Fpr explanation of column headings, &o., see notes .. . on first page of tables. 11 Pllts. 1 Oinn. Ohic. ti: Sf. Louis-(Ooncluded).ii ► Pitts. Cin. Ch. & St. L. cons. M., "A," gold. { 4)~ ( , do do do do "B," gold. "C," gold. J5 ~ +> 5 ~~b~c~!~ ioz~a.~isi·M.: go1iJ.: iiit. ·guar: ii:&o:. PUtsburg fl Oonnells1Jille---See BALTIMORE & Omo. PUtsb.Ft. Wayne ti: Chic.-Stock, 7 p. ct. guar. Pa. RR. Guaranteed special improvement stock .......... . 1st mortgage, series A to FI Sink. fund, cumula-{ 2d do seriesGtoM tive, notdrawn.c* 3d mortgage ............. . PUtsburg J"unction-lst mortgage, gold . . ......... c* Pittsln,,rg & Lake Eric-Stock ...... ..•............... 1st mortgage, gold ................................ c ~d mortgage, gold, Series A. & B ....•............ c Pittsburg McK. & Yough.-Stock guar., see text..... 1st mortgage, guar. by P. & L. E. and L. 8. & M. 8 .. 2d mortgage, for $1,750,000, guaranteed......... McKeesport & Bellevernon, 1st M., gold, assumed Pitts. Ohio Val. & Oin.-lst M. g., s. f. notdrn ..•. c* Pittsb. PaineS'Dillecl Fairport-1st M., gold, int. gu.c* Terminal mort., interest guar. by Pittsb. & West. Pitts. Shenango ti: LakeErie.-lst M., gold ......... o• Mortgage on Erie Terminals for $150,000........ Ptf,tsln,,rg Virginia cl Cha1·leston-Stock............ . . _{_1_8_9_0 _$_1_,0_00_ _$_10-,-o-o-o,-o-00- ·- -4-J.i-g. jl A. & o. N.Y.,Farmers'L'n &Tr. 1892 1,000 10,000,000 412 g. A. & 0. do do 1,082 1892 1,000 2,956,000 412 g. M. & N. do do .... .... 419,480 4 &5 .. .. . . . . .. . . . . 1882 .... 2,400,000 6 g. A. & 0. N. Y., Cent. Trust Co. Oot. 1, 1940 Apr. 1, 1942 Nov. 1, 1942 Various dates. Oct. 1, 1922 . . .. 100 19,714,286 7 per an. Q.-J. N. Y., Winslow, L. &Co. 1871 100 14,374,289 7 per an. Q.-J. do do 1862 500 &o. 5,250,000 7 Various do do 1862 500 &c. 5,160,000 7 Various do do 1A. & O. 1862 500 &c. 2,000,000 7 do do 1882 1,000 1,440,000 6 g. \J. & J. N. Y., 3d N. B. & Pitts. 50 4,000,000 See text. ,F. & A. Pittsburg, Co.'s Office. iS78 1,000 2,000,000 6 g. J. & J. do do 1889 1,000 2,000,000 5 g. ,A. & 0. N. Y., Security & Tr. Co. 1884 50 4,000,000 6 per an. J. & J. N. Y., Union Trust Co. 1882 1,000 2,250,000 6 J. & J. do do 1J. 1,000 900,000 6 & J. do do 1884 1 1888 1,000 600,000 6 g. ,J. & J. Pittsb'g, Fidelity Tr.Co. 1890 1,000 (1) 5 g. A. & O. Phil.,Pa.RR.,233 So.4th 1,000 1,U00,000 5 g. IJ. & J. N. Y., Mercantile Tr. Co. 1886 1,000 250,000 5 !J. & J. do do 1889 ~ 1:~ 3,o~w,ooo g. A ...~._◊. N. Y., ~~-:~~st Co. _ 50 2,024,750 5 per an. May. Philadelphia Office. 1882 1,000 3,000,000 5 A. & 0. do do 219,000 7 J. & D. Allegheny,Pa.,lstN.Bk. 1878 500 &c. 1887 1,000 9,700,000 4 g. J. & J. N. Y., Drexel, M. & Co. 1,000 (1) 5 g. iM. & N. do do 1891 1882 .... 100,000 6 . jM. & 8. N. Y., Union Trust Co. .... 50 1,333,342 Bee text. . . . . . N. Y., Farm. L. & Tr. Co. Jan. 4, 1893 Jan. 1, 1893 July 1, 1912 July 1, 1912 July 1, 1912 Jnly 1 1922 Jan 31, 1893 Jan. 1, 1928 Jan. 1, 1928 July 1, 1892 July 1, 1932 July 1, 1934 July 1, 1918 Oct. 1, 1920 July 1, 1916 July, 1916 Oct. 1940 May l, 1892 Sept. 1, 1912 June 1, 1898 July 1, 1917 May 1, 1941 Sept. 1, 1902 Sept. 26, 1892 ·1s 470 470 468 468 468 8 · "ii 71 .... 62 62 28 .. . . 63 . .. . 143 4 73 73 ~\:i;tJ~~~i si·M.~ Piiis:iefewciistie·Ja;:E: 1st mortgage for $10,000,000, gold .....•........ o 226 PUt-Sbttrg Youngstown d: A.shtalnila-Common stock i24 2d mortgage for $3,500,000, gold .............. o* Foxburg Bridge Co. 1st mortgage, guaranteed.. . 226 1 1 ½_~...~ ·PUt•burg Cincinnati Chicago & St. Lool•.-(Concluded.)~ 1890. 1891. Net earnings, incl. other inc ................... $3,991,889 $3,961,946 Net earns.of L.Mlami&5 7 profitsSt.L.V.&T.H. 387,185 367,171 Total ........................................ $4,379,074 Interest on bonds ............................... $2,564,390 Rentals paid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 833,655 Car trusts (including interest)................. 155,412 Interest on L. Miami securities................ 79,444 Dividends on preferred......................... . . . .. . .. ~scellaneous..... .. . . . . . . .. . . . . . . . . . . .. . . .. . . . 71,199 ') $4,329,117 $2,358,025 802,053 144,826 79,444 669,574 7,736 Total ........................................ $3,704,100 $4,061,658 Balance, surplus (over dividend in 1891\ ...... $674,974 $267,459 -(V. 54, p. 407,561,587,885,889,965; V. 55, p. 100,257, 1036.) Pittsb urg Cleveland & Toledo.--From Newcastle Junction, Pa.-t to Akron, 0., 77 miles. Stock, $3,000,000 (par $50), of which Balt. & u hio RR. owns $1,505,000. Leased in July, 1884, for 99 years to Pittsburg & Western. The Baltimore & Ohio guarantees interest on the bonds (see terms in V. 39, p. 607.) In year ending June 30, 1891, gross earnings, $460,084: net, $55,530; deficit under interest, $98,133. Pitts b urg &, Oo nnellsvtlle.-(SEE BALTIMORE & OHIO.) P ittsburg Fort Wayne & Chicago.-( See Map Pennsylvania R.R. Oo.J-RoAD.-Owns from Pittsburg, Pa., to Chlcago, Ill., and branch, 470 miles. ORGANIZATION, LEASE, &c.-Foreclosed Oct. 24, 1861, and reor• ganized under this title Feb. 26, 1862. From July 1, 1869, the company leased all its road in perpetuity to the Penn. RR. at a, rental equivalent to interest, sinking fund of debt and 7 per cent on $19,714,286 stock, which was increased at that time from $11,500,000. The lessees keep the road in repair and also pay taxes, expenses, &o. The rental and interest charge is about $3,337,000 per year, and the profit to lessees has been large. The road is now operated by the Pennsylvania Company. The Pittsburg Fort Wayne & Chicago leases the Newcastle & Beaver Valley, 15 miles, and the Massillon & Cleveland RR., 12 miles, both operated in the Pennsylvania system. ·CAPITAL STOCK.-The special improvement stock is issued to Penn• sylvania RR. for :un,provements, &c., under article 16 of lease, which provides that the ~ssor may issue special bonds or stock. See V. 50, p. 139. Of this stock the Pennsylvania RR. Co. on January 1, 1892, owned $1,472,512, and the Penn. Co., $7,543,176. BONDS.-The first mortgage is in six series, lettered A toF inclusive, of $875,000 each series, the interest on "A" series being par,able January and July; on "B," February and August; on "C, ' March and September; on "D," April and October; on "E," May and November, and on "F," June & December. The second mortgage is also in six series of $86~000 each, lettered G to M inclusive (J omitted), and the interest is payable January and July on "0" series; February and Aur.15t on "H"; March and September on "I"; April and October on "K' ; May and November on "L," and June and December on "M." Lessee pays $104,100 yearly to sinking fund, and if bonds cannot be purchased, funds accumulate. Of the above 1st mortgage bonds, $2,219,000, and of the second mortgage $2,529,000, and $1,463,· 186 cash, were held in the sinking funds June 30, 1892. EARNINGS.-In 1891 gross $11,659,144; net, $4,178,560; profit to lessee, $946,138. To 1890 gross, $12,020,934; net, $4,061,100; profit to lessee, $915,047. (V. 50, p. 139, '734; V. 52, p. 498, 938.) P ittsburg .Tunctlon.-Owns 8 miles of tracks (including sidings, &c.) at Pittsburg, Penn., connecting the Balt. & Ohio and the Pittsburg & Western, which coILpanies in 1882 agreed to pay the Pittsburg Junction $2 for each car passing over its road. In 1890-91 gross ~rnings $215,105 ; net, $149,890; surplus over fixed charges, $119,711. Coinih.Jn stoclr is $960,000; preferred, $480,000; par, $50. Dividends ot7 per cent have been paid on preferred stock. , Pittsburg & Lake Erle.-Owns from Pittsburg, Pa., to Youngs• town, O., 68 miles; branch line to Newcastle, Pa , 3 miles; total owned, 71 miles; leases tbe Pittsburg McKeesport & Youghiogheny RR., Pittsburg to New Haven, Pa., 57 miles; McKeesport to Bellevernon, 28 miles; with branches, 8 miles; total operated, 164 miles. Oper• ated in the interest of Lake Shore & Micltigan Southern, which owns $2,000,050 stock. Dividends 1884 to February, 1892, inclustve, 6 per cent yearly; in August, 1892, 5 p. c.; in 1893, January, 5 p. c. In 1892 $1,000,000 second mortgage 5s were sold for double tracking, &c. In the year ending June 30, 1892, gross earnings were $4,313,518, against $3,648,618 in 1890-91 ; net, $1,329,088, against $1,028,· 090. In calendar year 1891 gross earnings (including Pittsburg Mc· Keesport & Youghiogheny), $3,757,207; net, $926,830; interest, $203,362; rental to Pittsb. McK. & Y., $469,027; one-hall profit on Pittsburg McK. & Y. pa.id to Lake Shore & Michigan Southern, $6,821; dividends, $240,000; surplus, $7,620. John Newell, President, Chicago, ru: (V. 54, p. 641, 889.> Pittsburg McKeesport & Yougblogheny.-Owns from Pittei. to N. Haven, Pa., 57 m.; McKeesport to Bellevernon, 28 m.; bra.nche-s, 5 •n.; leases 3 m.; total, 93 miles. Road opened November, 1883, and in 1890 consolidated with McKeesport & Bellevernon and assumed its https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis g l9Tu debt. Leased to Pittsburg ~ Lake Erie RR. for 999 years. Rental is 6 per cent on the stock, pri.Ii01pal and intereE1t of the Pittsburg McK. & Yough. bonds being guaranteed by Pittsburg & Lake Erie and Lake Shore & Michi1>an Southern companies, the guarantees being endorsed on the share cert1flcates and bonds. The guaranty of the stook is on the express condition that the holder shall accept par for the same on July 1, 1934. Profits to lessees in 1891, $13,643, of which one.half was payable to the Lake Shore & Michigan Southern.-(V. 52, p. 126.) Pittsburg Ohio Valley & Clnclnnatl.-Owns road under construction from Bellaire, 0., to Marietta, 0., 75 miles, of which 30 miles were completed prior to Jan. 1, 1893. A Pennsylvania RR. property. Stock authorized $1,500,000; outstanding Nov. 1, 1892, $209,850; par, $50. Trustee of mortgage (for $1,500,000), Fidelity Ins., etc., Co. of Philadelphia. Pittsburg Painesville & Falrpo rt.-Owns from Fairport, 0 ., to Youn~stown, etc., 0.-1 63 miles. Opera~d at cost by Pittsburg & Western, but mte::-est of bonns is guaranteed. Common stock, $800,000; preferred, $250,000 (par, $50), of which in 1892 the Pittsburg & Western purchased all the common and $160,000 preferred. In year ending March 31, 1891, gross earnings, $293,578; net, $61,440; deficit under charges, $4,978, against surplus of $36,143 in 1889-90. (V. 52, p. '79 5.) Pittsburg Shena ngo & Lake Erle.-( See Map.)-Owns from Butler, Pa., to Girard, Pa., or Wallace Junction, 107 miles; branches to Conneaut, etc., 37 miles; to terminals~ Erie, Pa., 4 miles; leases Meadville Conneaut Lake & Linesville Rallroan, Linesville to Meadville, 21 miles; trackage, N. Y. Chic. & St. L., to Erie, 10 miles; total operated, 178 miles. Reorganized in October, 1890, after consolidation with certain other companies. The Conneaut Terminal Co., with authorized capital of $1,650,000, was incorporated in December, 1892, in the interest of this company to build extension to Lake Erie, et-0. From Jan.1 to Dec. 31, 1892 (12 months), gross earntng11, partly estimated, were $394,131, against $336,706 in 1891. In calendar year 1891 gross earnings were $336,955, against $262,295 in 1890; net, $114,219, against $103,747. Stock, $3,000,000; par, $50.-(V. 53, p. 969; v. 54, p. 120, 526, 598, 1048.) Pittsburg & Western.-( See Map of Baltirn,ore ti: Ohio.)-ROADOwns from Alleghany City, Pa., to New Castle. Pa., 64 miles; Callery Junction to Mount Jewett, 139 miles, (of which 124 miles nar row gauge) ; branches, 9 miles; total owned, 212 miles. Leases for 99 years Pittsburg Cleveland & Toledo, New Castle Junction, Pa., to Valley Junction, 0., 77 miles. Proprietary lines, Pittsburg Painesville & Fairport Railroad, Niles to Fa.lrport, in Ohio, 54 miles and Windsor branch, 9 miles; others, 19 miles; traokage, Akron, 0., to Orville, O., 26 miles; total operated, 398 miles. ORGANIZATION, ETC.-Sold in foreclosure June 8, 1887; new company organized June 25 a,c:,ording to plan in V. 44, p. 370. In Feb., 1891, the Baltimore & Ohio bought $6,050,000 common stock, and ts preparing to use the road as part of a, throu~h route tiO Chicago. The Allegheny & Lawrence RR. Co. was organizen in August, 1892, in the interest of the Pittsburg & Western to build from Bryant, to Moravia, Penn., 40 miles, to shorten this through route and lessen the grade. V. 55, p, 237. STOCK.-Common1 $8,500,000, and preferred, $5,000,000, 5 per ceni non-cumulative; bolih in $50 shares. Control held by Baltimore & Ohio. Common stock was increased $1,500,000 in 1892 to purchase $960 ,000 stock of the Pittsburg Painesville & Fairport, $1,300,000 (of the $1,500,000) stock of the Allegheny & Lawrence (see "or1aCanization" above,, and $382,500 Trumbull & Mahoning securities. V. 55, p. 332, 680, BoNDs.-For abstract of first mortgage (trustee, Mercantile Trust Company) see V. 45, p. 439. Leased lines are operated at cost and interest on bonds advanced if necessary. . Second mortgage for $3,500,000 is a first lien on property in Ohio. See f. 52, p. 238, 499, 762. In 1892 was about to issu11 th" remaining $1,500,000 authorized by this mortgage. See V. 55, p. 332, 680. In addition to the above indebtedness there were outstanding March 31, 1891, $81,~00 of old Pittsburg & Western first mortgage bonds, due 1900, real estate mortgages for $188,500; car trusts, $1,167,223. Interest is guaranteed on $1,250,000 Pitts. Painesville & FaJrport bonds. EARNINGS.-From Jan. 1 to Dec. 31, 1892 (12 months), gross earnings (partly estimated) were $2,395,117, against $2,285,356 in 1892. For year ending March 31, 1891, gross earnings of the three roads, were $2,207.015; net, $718,579; surp1us over charges, $30,744, againsi $197,843 ln 1889-90. (V. 55, p. 100,147,257,332,680, 895.) Pittsburg Youngsto-wn & Ashtabula.-Owns Kenwood, Pa.. to Ashtabula. Harbor, 0., 99 miles; Niles to Alliance Junction, O., 25 miles; Canfield Branch, 1 mile: trackage, 3 miles; total operated, 128 miles. A consolidation of the Ashtabula & Pittsburg and other roads in 1887. Leased from December 12, 1887, to Pennsylvania Company, which JuJy 1, 1891, owned $375,000 common and $1,550,000 pre• ferred stock; rental net earnings. Stock authorized-Common, $2,000,000, and preferred, $2,000,000; both in $50 shares. DIVIDENDs.-On preferred stock at rate of 7 per cent yearly since 1887; on common, in September, 1890, 212 per cent; in September, 1891, 3 per cent; in 1892, March, 3; Sept., 3. BoNDs.-Bonds of 1887 (trustee, Farmers' Loan & Trust Co.) are re• served to retire divisional bonds. A sinking fund of 1 per cent pur chases bondi of 1887 at par ; otherwise payments lapse. EARNINGB.-From Jan. 1 to Deo. 31, 1892 (12 months), gross $1,441,· 828 against $1 299 097 in 1891; net, $531 180, against $484 010 J AJroABY, 1893. J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. 119 MAP OF THE PITTSBURG, SHENANGO AND LAKE ERIE R. R. AND CONNECTIONS. llome.re ·INVESTOltS' SUPPLEMENT. . [VOL. LVL Sub•crlbers -will confer a great favor by pvlng llnmediate notice of any error discovered In these Tables • .Bonds-Prmo> INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or When Dne.i,. A.mount Rat5 per When 'Where Payable, and by pal, ot Par For explanation ot column headings, &o., see notes of Stocks-Lasa Whom. Road. Bonds Value. Outstanding Cent. Payable Dividend .. on first page of tables. PUts. Young. d: .Ash.-(Con.)-Preferred stock ...... Lawrence RR. 1st mortgage ...................... c Ashtabula & Pittsbur 1st mortgage ............ c ... Consol. mort. (for $4, 00,000) s. f. 1 p. c., not dr.c 6 Pontiac Oxford d: Northe1·n.-Stock ....... .......... Pt. Je1-vis Monticello <tN.Y.-lstM.,g($10,000p.m.) Port Readin,g.-lst mortgage, ~old, guar ....... c*&r PortRoyald:.A.ug1lS.-_lstM.and dM.,end.byCen.Ga; General mortgage mcome bonds, gold ........... c Port Rotal d: West Carolina-Augusta & Knox. M.c* Conso ·dated mortgage, redeemable at 110..... c* Portland" Ogdensbiwg-See MAINE CENTRAL. Portland Saco d Po1·tsmouth-Stock (gnat>. by rental) Portsmouth d Dover-Stock, 6 p. c. guar. East. Mass. Potomac Valley-1st M. $2,000,000, gold,guar .. c*&r Prescott ti Arizona Cent1·al-lst M., g, s.f. not drn.c 2d mort_1iage, incomes .............................. Prospf.,c: ark d Coney Isl.-lst M.convertible.c*&r 2d mortgage for $500,000 .................... c*&r 3d mortgage for $200,000 fold .............. . c*&r Pro-rnd~nce d: foringfield-ls M. gold, guar., p&i.c' Pr<nriaence ti orcester--Stock (10 per cent rental) . 1st mortgage ........... . ... . ..................... c ... Quincy Omaha <f Kansas City-Pref. 1st mortgage. ~~~rlJ:i~,ix~1st·iiiorigage;tiindini:::::::c* Raleigh d: Gaston-1st mortgage .................... c Beab. Air Line Eq_. bonds, Ser. A&B, (12 issue) .... &ading ti Columbia-1st mortgage (extended) .. c* 2d mortgage, coupon (extended in 1884) ........ c Debentures ........................................ c Lancaster & Reading 1st mortgage ............. c* 1n 1891. • 124 17 62 125 100 ·20 112 112 68 227 --·-·· 1865 1878 1887 ---· 1887 1891 '78-'82 1878 1880 1887 $50 $1,700,000 7 per an. 1,000 310,000 7 1,000 1,500,000 6 1,000 1,562,000 5 100 1,000,000 3 in 1891 (lg. 1,000 364,000 1,000 1,500,000 5 g. 6 302,000 500 100 &c. 1,500,000 6 500 7 630.000 6 1,000 1,870,000 51 100 --·11 100 ---15 · 1891 1,000 1,000 73 1886 73 1886 1,000 10 1874 1,000 10 1886 1,000 10 1891 1,000 23 1892 1,000 51 . ... 100 51 1877 1,000 134 1887 1,000 134 1887 1,000 98 1886 1,000 1,000 97 1873 1890-1 1,000 '¥0 1862 100 &c. 40 1864 1,000 1877 1,000 15 1873 100 &c. 0 For six months ending June 30, 1892, net, $273,219; interest, $94,900; divid..,nds, $99,350; balanc ', surplus, $78,968. In 1891 gross earnings, $1,290,416; net, $484,875; interest on bonds, $189,800; other charges, $26,131; dividends (3 per cent on common, 7 on preferred), $158,832; balance, $110,111. Pontiac Oxford & Northern. -Operates road from Pontiac, Mich., to Caseville, Mich., 100 miles. Successor to Pontiac Oxford & Port Austin RR., sold in foreclosure in 1889. In year 1891 gross earnings were $107,106; net, $25,141; dividends (3 per cent) , $30,000; balance, deficit, $4,858. President, Geo. W. Debevoise, New York. Port Royal & Augusta.-Owns from Port Royal, 8. C., to Augus· ta, Ga., 112 miles. Formerly Port Royal RR., sold in foreclosure .Tune 6, 1878. The Georgia RR. was endorser on $500,000 of the old bonds. The stock is $750,000, par $100, and Central Ga. July 1, 1892, owned $401,500 stock and $1,176,600 general morttsage bonds. The first mortgage bonds are $250,000, redeemable at 105; both firsts and seconds also have sinking funds. The Central of Georgia is in receiver' s hands, but interest on P.R. & A. bonds due July, 1892, and Jan., 1898, was paid at maturity. From January 1 to Oct. 31 (10 months) in 1892 gross earnings were $19i,442, against $303,320 in 1891. In year ending June 30, 1891, gross earnings were $364,707; net, $73,935 ; surplus over interest and sinking fund, $36,215. Port Royal & Western Carolina.-Owns Augusta, Ga., to Spartanburg, 8. C., Laurens to Greenville, S. C., and McCormick to .Anderson, S. C., 227 miles. A consolidation in 1886 of the Augusta & Knoxville, &c. Interest on Augusta & Knoxville bonds due Jan. 1, 1893, went to default. See Central of Ga. Common stock of $1,234,000 and 6 per cent non-cumulative preferred stock $184,000-par of shares $100. The mortgage is for $2,500,000. Central RR. of Georgia July 1, 1892, owned $1,767,000 of the above bonds, $694.000 common stock and all the preferred. From January 1 to Oct. 31, 1892 (10 months), gross earninr. $228,744, against $226,767 in 1891. In year ending June 30, 189 , gross $428,il26, against $380,291 in 1889-90 ; net over expenses, betterments and taxes, $7,155, against $9,703; charges, $156,300. Port Readlng.-This company was organized in November, 1890. in the interest of the Philadelphia & Reading RR. to build and operate 20 miles of road from Bound Brook, N. J., to Staten Island Sound, where extensive terminals ·w ill be established. Road complett'd in Sept., 1892. ( ·apital stook authorized $2,000,00o--Outstanding, $1,960,000, par $100. The Pililadelphia & Reading RR. Co. guarantees the bonds, prinoipal and interest, by endorsement on each bond. In Februal'y, 1892, in behalf ot the Philad1dphia & Reading, the Port Reading leased the Central RR. of New Jersey, existing laws preventing a lease of the Central directly to the Reading, but in August, 1892, th .. lease was adjudg .. d illegal. Bee Central of N. J . Legal proceedings were instituted by the Attorney-General of New Jersey against the Port Reading in September, 1892. See V. 55, p. 545. (V. 54, p. 762; v. n5, p. 545, 639, 680.) Portland & O~densburg.-See MAINE CENTRAL, Portland Saco & Portsmonth.-Portland, Me., to Portsmouth; N. H., 51 miles. It was leased May 4, 1871, in perpetuity to the Eastern Railroad, Mass. (now merged in Boston & Maine), at 10 per cent on 11took. Lease rental changed May 21, 1877, and now 6 per cent Portsmouth & Dover.-Portsmouth, N. H., to Dover, N. H., 10 miles. Opened February 1, 1874, and leased for fifty years to Eastern New Hampshire at 6 per cent per annum on the stock, rental guaran· teed by the Eastern RR. of Mass., with which it has been consolidated. Lease assumed by Boston & Maine. Frank Jones, President, Perts· mouth,N. H. Potomac Valley.-This company, controlled by the Western Maryland, was organized in 1890to build connectinl;{ _links between that system and the Baltimore & Ohio and Philadelpnia & Reading. Its road was completed from Williamsport, Pa., to Cherry Run, W. Va., on the B. & 0., 15 miles, in July, 1892. Road also building or to be built under charter of "Baltimore & Harrisburg RR., Eastern Extension" from Porters' Station on the Western Maryland to the Philadelphia & Reading RR. near Mari etta, Pa., 29 miles, and from Thomasville., Pa .. to the Philadelphia Harrisburg & Potomac RR., 8 miles west of Harrisburg. 21 milesi making tot al mileage 65 miles. All the securities of the Bal: timore 6i Harrisburg Easte rn Extension are owned by the Potomac Valley and pledged under its mort~age. The property is leased to the Western Maryland, and the bonds n a ve principal and interest guaranteed.jointly aRd severally, by the Western Maryland RR. Co. and the Baltimore & Harrisburg RR. Co., and are so endorsed. They are also secured by traffic contracts with these companies. (V. 52, p. 121.) Prescott & Arizona Central.-Owns from Seligman, on the Atlantic & Pacific Railroad, to Prescott, Arizona, 73 miles. Stock, $1,200,000. Central Trust Company of New York is mortgage trustee. The bonds may b e purchased for sinking fund at not exceeding l LO, but cannot be called. See V. 48, p. 233. Interest on incomes has been paid as follows: In 1890, 4 per cent; in January, 1891, 2 Jg per cent; m 1892, nil. From January 1 to July 31, 1892 (7 months), gross earnings were $74,496, against $75,016; net, $42,972, against ~22,547. In 1891 groRs earnings were $139,822; net, $60,907, aa-ainst$82,269 in 1890 ; rentals, taxes, and interest on first mortgage, $59,290 ; surplus, $1,617. Office, 42 Wall Street. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 M. & 8. N. Y., Far. L. & Tr. Co. Sept. 26, 18'92 F. & A. 1N. Y., Winslow, L. &Co. Aug. 1, 1895> F. & A. 'Phila., Fidelity 'fi. Co. Aug. 1 , 190& M. & N. N. Y., Farm. L. & Tr. Co. Nov. 1 , 192'T ...... (1) ·---·-··-J. & D. New York Agency. Dec. 1, 1927 J. & J. Phil.,PcnnCo.forins.&c Jan. 1, 1941 J. & J·. N. Y. Secm·ity & Tr. Co. , 1898 & 1899 J. & J. do do Jan. 1 , 1899' J. & J. Jnly,'92, coup.last paid July 1, 1900• M.& N. May 1, 1937 -·-------- 1,500,000 G per an. J. & J. Boston, Treasur. Office. Jan. 15, 1893'. 769,000 6 per an. lJ. & J. Portsmouth, Treasurer. Jan. 1, 1893 500,000 5g. J. & J. Baltimore. Jan. 1, 1941 775,000 6 g. J. & J. N. Y., Atlantic Tr. Co. Jan. 2, 1916 6 J. & J. N. Y., wheu earned. 775,000 Jan. 2, 1916500,000 J. & J. lstNat.BankofBr'klyn Jan. 1, 1891>7 420,000 F. & A. Of., 4 Comt Sq. Br'k1yn. Feb. 1, 19267 6 do do 96,000 6 g. M. & 8. Moh. 1, 1931 750,000 5 g. J. & J. Providence,GlobeN.Bk. July 1, 1922 Providence, Office. Dec.31, 189 3,500,000 l0peran Q.-M. 1,500,000 6 A. & o. Prov.,R.I.Hosp.&Tr.Co. Oct. 1, 1897 250,000 5 J. & D. June '90 coup. last paid. Dec. 1, 191 Deo. 1, l~l 1,489,240 3, ~ 5 J. & D. 1,000,000 J. & J. Balt.&Piiii:i.,i:ecih.N.Bk. Jan., 1926 J. & J. Balt.& Phil. Mech.N.Bk. Jan. 1, 18981,000,000 8 212,500 5 J. & D. Bolt.Mere.Tl'.& Dep.Col26,000 J'ne 1 650,000 5 M. & 8. Philad Phll.&Read. RR. Moh. 1, 191 . J. & D. o do June 1, 1904 350,000 5 Dec. 1, 1917 ..... ... ...... . 1,000,000 6 J. & J. Phila.,Phil.&Read. RR.j July 1, 18.9 350,000 7 Prospect Park & Coney Island.-Owns from 9th Avenue and 20th Street, Brooklyn, to Coney Island, etc., 6 miles. Leases to Coney Island Point, etc., 212 miles; other. 1 mile; trackap;e, Parkville to Bay . Ridp;e, 312 miles; total operated, 13 miles. Stock is $2501000; par, $100. The Loug Island RR. stockholders vote January 24, 1892, on, proposition to acquire controlling interest in stock. See V. 66, p. 42. In addition to bonds as above there are $250,000 non-cumulative· 6 per cent incomes due May 1, 1920, which are not secured by mortgage, and on July 1, 1892, $155,800 loans and bills payabli>. The company sold its horse-car property and franohises to the Atlantic Horse RR. Co., and holds a 5 per cent bond and mortgage of that company for $420,000. In 1891-92 gross earnings were$159,387, against $158,267 in 1890·91; net, $29,567; net including income from rents, $70,457; charges, $90,218; deficit, $19,761. Total deficit June 30, 1892, $110,232.-(V. 55, p. 3'72; V. 56, p. 42.) Providence & Springfield.-Providence, R. I., to Pascoag, 23: miles. Stock is $5171450 (par, $100), a majority of which was acquired in July, 1890, in interest of the New York & New England, and road leased to that company for 99 years from October 1 at 6 per nent on stock. See V. 51, p. 458; V. 55, p. 177. Of the bonds for $750,000, $500,000 were issued to retire old first mortgage due July 1, 1892, and $250,000 for an extension of 8 miles to East Thompson, Conn.; they are guaranteed bythe New York &New England RR. The old mortgage· has been canceled. In year 1889-90 gross earnings, $138,036; net, . $48,422. Providence & Worcester.-Owns from Providence R. I., toWorcester, Mass., 44 miles: branches, 7 miles; total operated, 51 miles . In 1889 leased to the New York Providence & Boston for 99 years at 10,. per cent per annum on the stock, and in June taken with that road mto the N. Y. N. H. & Hartford system, a new lease for 99 yearBfrom July 1, 1892, being made direct to the New Haven Company. In 1891-92, gross earnin~s. $1,507,088, against $1,518,378 in 1890-91; deficit aft, r • xp ,,nses, cnarges and 10 per cent dividends, $60,962,. against surplus of $193,483. (V. 48, p. 829; V. 51, p. 681; V. 56, p. 83.) Quincy Omaha & Kansas Clty.-West Quincy to Trenton, ill.,. 134 miles; trackage (C. B. & Q.), to Q.uincy, 3 miles. This company is successor to the Quincy Missouri & Pacific sold in foreclosure and reorganized. Default was made on Dec., 1890, coupons. It is proposed to,. reorganize the company, issuing $500,000 of 5 per cent gold bonds for-present preferred bonds, fl.oating debt, steel rails, etc., and preferred stock for unpreferred 1st mortgage and scrip. The stock is $1,489,240 (par $100). From Jan. 1 to Nov. 30, 1892 (11 months), gross earnings, were $248,943, against $238,499 in 1891; net, $64,0l 7, against$78,076► In 1891 gross $262,626; net $85,673, agst. $79,602 in 1890. Kaleigh & Augusta~-Owns from Raleigh, N. C., to Hamlet, .N. C., 98 mllt>s; Hamlet to Gibson, 10 miles; leases Moncure to Pittsboro.., 10. miles; Cameron to Carthage, 12 miles; total, 130 miles. Controllea by Raleigh & Gaston, which July 1, 1892, owned $742,700 stock, ana soby Sea.board & Roanoke. StocJi: is $873,000; par, $100. In 1891-92 : gross earnings, $281,368; net, $65,457; surplus (iuoludinir other receipts) over fixed charg-es, $2,671, against $38,361 inJ1890-91; net current liabilities July 1, 1892, $304,698. Kaleigh & Gaston.-OwnsfromRaleigh to Weldon, N. C., 98 miles,. and Louisburg branch, 10 miles. Controls Raleigh & Augusta RR., l0S:· miles, and has large interest in Durham & Northern RR., Durham to, Henderson, N. C., 42 mile~; and with Seaboard & Roanoke control& Carolina Central; also controls Georgia Carolina . & Northern and jointly guarantees the bo11.ds. Seaboard & Roanoke owns $742,200 of · the Raleigh & Gaston $1,500,000 stock; par, $100. Semi-annual dividends are paid at National Farmers' & Planters' Bank, Baltimore, April land Oct. 1. Dividends in 1889, 1890 and 1891, 6; in 189:t, 4 per cent. In year ending June 30, 1892, gross earnings were $471,141; net, . $151,722, against $214,292 in 1890-91; income other sources, $49,825 interest paid, $80,000; dividends (5 per cent) $75,000; surplus, $46,547, -(V. 52, p. 530.) • Reading & Columbla.-Owns from Columbia to Sinking Springs, Pa., 39 miles; branches, 13 miles; Lancaster & Reading RR., leased, 15miles; operates Marietta Ju:nction to Chickies, 6 miles ; total operated, 74 miles. Stock, $958,373; par, $50. The road is controlled and oper, ated by the Philadelphia & Reading (which holds the above debentures), . but accounts kept separate. In year ending Nov. 30, 1891, gross earnings were $338,730; net, $94,535; interest, rentals and taxes, $142,· 256; deficit, $-!7,7l2. Total deficit to Nov. 30, 1891, $1,234,819. ReuHelaer & Saratoga.-Owns Troy to Ballston N. Y., 26 mile&· Whitehall, N. Y. , to Vermont line, 7 miles; Eagle Bridge to Rutland Vt., 62 miles; Fara toga to Whitehall, 39 miles; branch, 3 miles; total , owned, 137 mile., Leases: Albany to Waterford Junction 12 miles; . Barato~a to Schenectady, 22 miles; Fort Edward to Caldwell, 14 miles ;... other oranches 7 miles; total leased, 56 miles; total operated, 192~ miles. Leased in perpetuity March 1, 1871, to the Delaware & Hudson-eanal Company, which in s~pt., 1892 owned $1,600,000 stock; rental, . 8 per cent on the •tock and interesli1 on the bonds. Stock authorized,. $10,000,000. For three months ending Sept. 30, 1892, surplus over charges was.. $138,636, against $161.637 in 1891. For the year ending .Tune 30,. 1892, gross receipts were $2,573,275, a~ainst $2,572,192 in 1890-91;:. net, $991,672, against $963,876; deficit under charges, $187,211.,. against $130,205 in 1890-91. (V. 53, p. 224, 5 68, 714; V. 54, p. 289-800; v. 55, p. 298, 806.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE RAILROAD & CONNECTIONS. INV~STORS' SUPPLEMENT. (VoL. LVI. Subscribers -will conf'er a great Cavor by giving Immediate notice of' any error discovered In these Tables. INTEREST OR DIVIDENDS. Bonds--Prino1RAIT,ROADS. Miles Date Size, or Amount pal,When Due. Por explanation of column headings, &c., see notes of of Par Outstanding Rate per When !Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. Cent Payable Whom Dividend - - - - - - - - - - - - - - - - - 1 1 - - - - - - --, - - - - - , - - - · - - , Rensselaer ~ Sara.-Stock~.c.guar.Del.&Hud.Can 1st mortga~ consolida .................... o* &r Richmondtl nville-Receiver's certificates ....... Consol. M., Richmond to Danville & brs ..Jold .... Debenture mortJage bonds, income cum ative .. Consol M. ($1 ,000/s·m1$ or£ ($14,500,000)c* Equipmen Trust bon s, go d, s.f.,subj. to call .. c* Equi-Ements.f. bonds, $2,00,000 .,sub. tocall.c* Nort :western, N. C., 1st . ($15, Op. m.) gJ::.c Richmond York River & CheWeeake, 1st mo g .. 2d mortgage, Richmond to est Point, Va ...... Stock, guaranteed 6 per cent .................... W.tsh.Oh.& West.1st M. guar.,Alexan.to R. Hille Income mortgage ................................ Oxford & Clarksv. 1st M., $15,000 p. m.,gold .... c Clarksville & N. Carolina 1st mort., guar......... Danville & West.1st M. $15,000 p. m., gold,guar c JI .-Ii.Fred.~ Pot.-St'k,oom.($1,071,100 div.,oblig.) Stock, guar. 7 p. c., except $19,300 guar. 6 p. c .. 1st mortgage, convertible .......................... f' 66 i~ do 0 coup~~ bondsdue inL<>nd<>n::::::: do due in U.S ........... do certificates of debt, due in U. 8 . . ... 2d mortgage do do ..... Consol. mortgage for $2,000,000, gold ....... c*&r Jhch. Niclwl.Irr:. cfB.-lstmortgage, gold......... c .. Richmond ce Petersburg-Stock ••.•.. ..•.••.•••••.••. Consolidated mortgage ($30,000 are 7s) .......... Consolidated ruort~age for $1,000,000, ~old .... o* Bichmond <I West P<nnt Terminal R. ti W. o.-Stock Pref. 5 p. c. stk., cumulative, subject to call at 110 192 79 i52 152 152 ...... ioo 38 38 0 is,i 1892 1874 1882 1886 1889 1891 1888 1873 1880 50 iss4 50 50 7 70 1884 1887 1887 1891 79 79 79 79 79 79 1856 1858 1870 1858 '44-66 1890 1889 .... .... "79 isi;G "23 23 27 .... .... i875 1890 . ... . .... $100 $10,000,000 1,000 2,000,000 1.000,000 1:000 5,997,000 1,000 3,368,000 1,000 3,041,000 1,000 1.390,000 1,000 See text. 1,000 1,500,000 1,000 400,000 1,000 500,000 100 497,500 1,000 1,000,000 625,000 1:000 750,000 1,000 111,000 1,000 500,000 100 2,238,000 100 500,400 Various 35,370 Various 99,070 Various 48,687 Various 300,000 Various 83,363 53,511 500,000 $1:000 1,000 2,375,000 100 1,000,000 500 &c. 380,000 1,~ 70 100 5,000,000 ,gg&;&gg Richmond & Danville.-( See Map.J-Owns from Richmond, Va., to Danville, Va., 140 miles, with branches, including Piedmont RR., &c., 80 miles; Richmond York River & Chesapeake RR. 39 miles; North Caro14!a RR., 223 miles; Atlanta & Charlotte Air Line Railway, 269 miles; total system proper 751 miles. Operating leases: Northwestern North Carolina, 100 miles; Virginia Midland Railway, 408 miles; Washmgt<m Ohio & Western R~, 50 miles; Western North Cl!'rolina RR., _309 miles; Charlette Columbia & Augusta RR. and leased lines, 363 miles; Columbia & Greenville RR., leased lines ann bran~hes, ~96 miles; Richmond & Mecklenburg RR., 31 ~es ; Georgia Pacific Rauway, _567 miles; Statesville & Westei:n, 20 miles; Oxford & Henderson, 13 ~les; Oxford & Clarksville, 50 ~es; :Northeas~ern RR. of G~orgia, 40 JDiles; Clarksville & North C~rolina, 7 miles; High Point Railroad, 28 ~Iles. Controls by ownership of stock, op~rat~g separa~ely: Ashevµle & Spartanburg, 70 miles; Elbe_rton Air Lrne, 51 mp.es; Danville. ~ Western, (!1arrow gauge) 70 miles; other lines, 9? miles; total auxiliary system, 2,_569 miles; total R!oh¥tond & Danville system March 1, 1892, 3,320 miles. Also steamship Imes reckoned at 2_00 miles. . STOCK.-~e stock is $5,000.z..O{!O (par $100), of which $4_,976,100 1s owned by··Richmond & West .rornt Terminal, and pledgen under its oollateral'trust and preferred stock agreements. RECEIVERSHIP.-On June 16, 1892, on account of the financial embarrassment of the Richmond & West Point Terminal, this road was placed in hands of F. W. Huidekoper and Reuben Foster as receivers. As to attachment of Central of Ga. property in January. 1893, see V. 56, p. 82. • Interest on leased line bonds was paid as usual July 1, 1892, but tbere ba've since been a number of defaults as indicated below. Coupons of R. & D. consol. 6s due July 1, 1892, w1ich were bought wt maturity were paid in full in January, 1893. On Oct. 1, 1892, default o~curred on R. & D. d_ebenture 6s and con101 5s! Columbia & Greennlle s~cond 6s, Georgrn, Pacific second 5s, Danville ,& Western 5s and Ashev1ll;, & Sparta11:burg 6s. See V. 55, p. 590, 639. ~n Nov. 1, 1892, Oxford & Clarksville and Clarksville & Nortb Cai:olina coupons went to default. . . On Jan. 1, 1893, the. coupons of Columbia. & Greenville bonds due Oct. 1, Ul92, were paid, but Ga. Paci:fio 1st mortgage coupons due Jan. 1, 1893, were b01tght by Messrs. Clyde and Stone. Y. 56, p. 43. As to underlying bondholdeni' committee see v. 55, p. 806. D in 1876 _In lSBl 5 t; in . . . i 1882 . Jul' 7 51:11- 1887 189' 73 • • 188~-vw.E~Du89cfO· - 1890 10· 1n • • , • • ?m ' ' ' an., 5 ' Y, ' m -, m · BONDS.-In addition to bonds in table above there ~ere out as collateral :i;>ec. 1, 1892,$1,487,000 consol. 5s. $909,000 eqmpment6s (except part m treasury) and $550,000 Danville & Western 5s. T!J.e "d_e benture" mor~gage bonds have a lien on the property subJeot o~y to the consolidated mortgage of 1874, and are e:ntitled to such interest not exo~eding 6 per cent per annum (cumulative) as re· mains out of the earnrngs of the company after paying the interest on t!J.e consol 6s, the rental of all pro_perties leased by the company at the tnue the mortgage was made, and its operating and renewal expenses, the sum so to be :paid to be determined by the Board of Directors. In 1890 the Richmond & Danville issued $6 000,000 bonds jointly with the E. Tenn. va. & Ga. (See East Tenn.) I full statement of the comyany's obligations on its leased lines was in v. 54, p. 488. FLOATING DEBT.-Of the floating debt as it stood on Sept. 8 1892, $4,434,000 was secured bf collateral. This collateral includes the most valuable of the securities formerly in tht- R. & D. treasury and certain El~curities borrowed from the R. & W. P. Terminal as shown tor that ;company. On the same date $797,000 notes o'l the R. & D. bore the endorsement of th , Terminal Company. Th · floatin!? debt was repQ,rted extended in July, 1892, at 6 per cent interest and 219 per cent comn;iission. (V. 54, p. 79; v. 55, p. 1:47, 257.) LATEST EARNINGS.- From July 1 to July 31, 1892 (1 month), gross of aystem $947,430, against $1,107,020 in 1891. ANNUAL REPORT.-Year ends June 30. Report for year 1890-91 was given in' CHRONICLE, v. 53, p. 837, &c. The net surplus of Rich• mond & Danville proper above fixed charges was $1,212,403; surplus on other roads of the system, except Georgia Pacific, $111,707; deficit on Georgia Pacific, including improvements and betterments, $1,509,· 531; result on whole system a deficit of $185,421. The following figures are for the 751 mHes of the system proper. (Bee v. 55, p. 721). 1889-90. 1890-91. 1891-92. Gross earnings $5 600 712 $5 947 359 $5 944 783 .. · · .... · · .. · . .. . ' ' ' ' ' ' • Operat'g expenses and taxes. 3,186,882 3,085,491 3,037,067 f:~rf Net earnings ............ . . $2,413,831 nd t Interea 1 662 967 { 1 on bo s · · · · · · · · · · · f https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • N.Y.,Del.&H.CanalCo. do do Balt. and Philadelphia. July '92 coup, last paid. Apr.,'92, coup.last paid, Apr.,'92,coup.lastpaid. Central Trust Co. do do do do do do do do do do do do None paid. May,'92,coup.Iastpaid. May,'92,coup.lastpaid. Apr.,'92,coup.last paid. Phila. & Richmond. do do do do do do do do do do do do do do N. Y., Phila. or Richm'd. In default. Richmond, Office. do · do N. Y., ~~~~-~:others. ........•. ·- ~ Jan. 3, 1898 May 1, 1921 July, '93 & '94 Jan. 1, 1915 Apr. 1, 1927 Oct. 1, 1936 Sept. 1, 1909 May'93-1906 Apr. 1, 1938 Jan. 1, 1894 Nov. 1, 1900 Jan. 2, 1898 Feb. 1, 1924 May, 1~24 Nov. 1, 1937 Nov. 1, 1937 Oct. 1, 1936 Jan. 3, 1893 Nov. 1, 1892 July, 1895 1901 1901 1901 July 1899 1901-1902 Apr. 1, 1940 July 1, 1919 Jan. 3, 1893 May 1, 1915 Ap~:-~.'..~940 July 15, 1891 Dividends of 7 per cent paid on common stock and dividend obligations in 1888 and 1889; in 1890, 619 per cent; in 1891, 7 per cent; in 1892, Jan. 3 ½I; July, 3½1; in 1893, Jan., 319 p. c. From July 1, 1892 to Sept. 30, 1892 (3 months), gross earninus were $173,010, agst. $165,199 in 1891; net, $51,629..t against $53,07§. In vear ending June 30, 1892, gross earmngs were ;i,746,528; net, $290,951; surplus over interest and dividends, $49,834, a1?ainst surplus of $52,084 in 1890; betterments, $17,896. (V. 52, p. 39; V. 53, p. '753; V. 55,p. 9'7'7.> Riclunond Nicholasville Irvine & Deattyvtlle.-Line of road-Versailles, Ky., to Beattyville at the Three Forks of the Kentucky River, 97 miles, of which 62 miles are in operation. In Dec., 1891, John McLeod was appointed receiver. The claims against the company were said early in 1892 to be not exceeding $500,000 and the bonded debt as shown in the table. In August, 1892, stockholders agreed to a plan for completing the road to ~eattyville at a cost of from $400,000 to $500,000-see v. 55, p. 257. stock authorized $2,425,000; par, $100. (V. 51, p. 609; v 53, p. 846; v. 55, p. 257.) ' Richmond & Petersburg.-Owns from Richmond to Petersburgva. 23 miles. James River branch 4 miles. . ' . ' . J?IVIDENDS srnce 1883-In 1884, 1~85 and 188~. 5 per cent; m 1887, 6 ; m 1888• 1889 • 1890 a nd 1891 , 7 ; m l 892 , 7 ; m l893, January, 319. LATEST EAR;NINGS.-July ~. 1892, to Nov. 30, 1892 (5 months), gross, $146,915, agamst $134,252 m 1891; net, $49,271, against $36,160. A.~UAL REPORT.-Fiscal year ends June 30. Annual report for 1891-92 in V. 55, p. 977 showed gross earnin"'s, $337,839; miscellaneous receipts, $31,639; total receipts, $36ll',478; net, $126,329; total net income, $135,347; interest, $36,600; dividends, $70,000. -(V. 53, p. 8'79; V. 55, p. 91'7.) Richmond & West Point Terminal Railway & Ware• house co.-The mileage controlled and operated was about 8,816 miles (including water lines) as follows: Richmond & Danville system, 3,320 miles; East Tennessee Virginia & Georgia system 2,318 miles; Alabama Great Southern, 296 miles; Central Railroad of Georgia, 2,682 miles; Water lines: Ocean Steamship Company and Baltimore Ches. & Rich. s. B. . HISTORY, ETC.-Incorporated act of Va. Le~lature m March, 1880, and pur(?hased a lar~e amount ot Southern railroad securities,_ which enabled It to operate he systems above named. Messrs. Clyde, l:!trong, etc., becam~ directors in Sept., 1892. (V. 55, p. 463.) RECEIVERSHIP.-On June 22, 1892, W. G. Oakman, theretofore President, was appointed receiver. Default on the bonds took place August 1 and September 1. The Central ot Geor""'a, the Richmond & Danville and the East Tennessee are also in tbe hati'ds of receivers. Circular of advisory committee of seventeen was in issue of Aug. 27, 1892. Mr. Orr's letter of Jan., 1893, was in v. 56, p. 43 and President Oakman's notice to Central of Ga. as to reorganiza-tto'n v. 56, p. 82. In November, 1892, the receiver brought suit to recover the moneys paid by the Terminal for $4,000,000 Central of Georgia stock bought at a price it is claimed far exceeding its value. see v. 55 p. 422 938 . '. ' · CAPITAL BTOCK.-The preferred stock IS ~eoured by deposit of $2,500,100 Richmond & Danville stock. · DIVIDENDS on preferred stock-In 1887, 219 per cent; in 1888, 5; in 1889, 5; in 1890, 5; in 1891, Jan., 219; in July, 219; since, none. PRICE OF STOCK.-Common in 1888, 19'@29~; in 1889, 1919@27~; in 1890, 13¼@2814; in 1891, 838'@19½1; in 1892, 614'@17½!; in 1893 to Jan. 20 inclusive, 7@10 7e. Prererred in 1887, 43@8719; in 1888, 55@8714; in 1889, 76'@84~; in 1890, 60½1@8719; in 1891, 43@7619; in 1892, 3119 @79; in 1893 to Jan. 20 inclusive, 30@38. FLOATING DEBT, SECURITIES OWNED, ETC.-On Sept. 8, 1892, the receiver reported the company's floating debt to be $279,200, and the notes of the Richmond & Danville endorsed $797,000. To secure floating debt of the Terminal were pledged $230,000 of securiti~s shown below and $1371000 Chester & Lenoir and Cheraw & Chester bonds borrowed from the Richmond & Danville. The securities owned by the Terminal were on Jan. li, 1893, as follows. In November, 1892, the receiver was granted permission to sell $702,000 State of Ga. 3¼s, and on Jan. 10, 1893, only $53,000 remained unsold, as shown below. (V. 55, P• 938.) Securities in Oo's. treasury. Loaned R. <I D. RR. Oo. E. Tenn.Va. &Ga. com. $5,880,000 Oxford& Hend. lstM. $195,000 Do 2d pref. 391,000 Statesville & West.1st. 300,000 Oxford & Hend. com.. 325 ,000 $2,907,716 :i:is~riieI:J:!i.~~:: 5i~:&ig 824•195 Virginia Midland com. 34,233 1 Various other stocks.. 124,997 0 • · ____ ____ ' Rich. &Mecklenb. 2ds. 160,000 Surplus . . . . . . . . . . . . . . . . . . . $750,864 $1,212,403 $848,060 t $ 1ue ... ·.. 7 ' 483 ' 870 -(V. 53, ~- 59, 408, .,.• 11, 817, 8 34, 8 3 '7·, V. 54, p. 79, 120, 762, 1010·, Owned To a 1 and par va pledged for R. T. Oo. V. 5!5, p. 2,257,298, 590, 639, '721,765,996; V. 56, p. 43, 82.) ft.<!ating debt. Richmond Fredericksburg & Potomac.-Owns from Rich Virginia Midland com. $80,000 mond1,Va., to Quantico, 79 miles; James River branch, 3 miles; leases E. Tenn. V. & G. 2d pf. 100,000 Q tanlilco to Junction, 2 miles. The dividend obligations receive same, Char. Col. & Aug. st'k. 50,000 dividends as common stock, but carry no voting power. Of consols --sufficient are reserved to provide for prior bonds maturing. Total par value...... $2:= 1,00? ::t-c.~: ;;;:troi-' equii,' 'iic>ndsI , , $2,861,868 895 350 754 •115 • I 8per an. J. & J. 7 M. & N. 6 J. & J. 6 g. J. & J. 6 A. & 0. 5 g, A. & 0. 5 g. M. & 8. 6 g. M. & N. 6 g. A. & 0. 8 J. & J. 6 M. & N. 6 per an. J. & J. 4 F. & A. 6 ..... 6 g. M. & N. 6 M. & N. 5 g. A. & 0. 7 per an. J. & J. 7 per an. M. & N. 6 & 7 J. & J. 5 J. & J. 5 J. & J. 6 M. & N, 7 J. & J. 5 J. & J. 4lgg. A. & 0. 6 g. J. & J. See text, J. & J. 6 & 7 IM. & N. --~~g. A ...~..o. See text. ,J. & J. •rnHl? - -1 ti951l~ L;i!:~P~_va!u~:·and pledged on floating debt. Rich. &Dan. eamp. 6s. $726,000 E.Tenn.Va.&G'a.Ex.5s 620,000 /~ f dGo Ge~. M. 5s. 230,000 8 a eO 3 19s. 5 3 ,000 eorgia com Virginia Midland 840 000 E. Tenn. V. & G. lstpf: 500:000 do 2d pref. 1,820,000 R. & W. P. Ter. com.. 346,200 Ga. Pao. Equip. 6s.. .. 47,000 Total par valu"..... $5,830,200 RAILROAD STOCKS AND BONDS. J A.NU.A.RY, 1893.] 193 subscribers will comer a great favor by giving hnm.edlate notice of any error dlscovered In these Tables. Bonds-Prln.ol INTEREST OR DIVIDENDS. RAILROADS. Miles Date 81.ze,or Due. Amount Rate r,er When Where Payable, and by pal,When Par of Stoclu-Laa1i For explanation of column headings, &o., see notes of Outstanding Road. Bonds Value. Cen . Payable Whom. Dividend. on first page of tables. ---- Biehmond IE West Pt. Per. R. ti: W. Oo.-Ooncluded. Collat. trust bonds, gol~ subject to call at 105 ... ConsoL collat. trust,iol , subject to call at 100.c* Rio Grande Junction- tock ............•............ 1st mortg?oe, fold, guar. jointly ................ c* Bio Grande out ern-Stock, $25,000!_er mile ..... 1st mortga.ie, $25,000 per mile, gol ......... o*&r Rio Granae estern-Preferred stock ....... . ....... 1st trust mortgage, for $16,000,000, gold ...... c"" ao~1;!lee;rs~\i~;.",,i~sk;c1r:::::::::: :: : ::: : : : : : : :: : : 1st Mortgage, gol<I, $15,000 p. m., ~uar.,. & i. .. o* Equip. trust ( 210,000) [uar.p. &1. .&W . . c* lroch. d: Genesee Val.-Stoc 6%rental .Y.L.E.&W. Jl,ock Island & Peoria-Stock ................ . ........ 1st mortga1e ............................. . ........ r Consolidate 1st mortga~ ........... . ........... r Rome Watertown ci Ogde?is rg-Stock 5 p . c. guar. 1st M., Wat. & R.,Rome to Cape Vin.,s.f.,not dr'n.c* Consolidated mortgage (See remarks) . ... . ...... c. Syracuse Northern 1st mortgage ....... . . . ...... o* Oswego &Rome-1st mortgage, gua,r............. Oswego & Rome 2a mtge._,., gu.by R. W. & O.o .. . . Oswego Brid.,.e and Syr. h. & Os. 1st mortgages Norwood & ~ontreal 1st mortgage, gold .......... It. W. & Og. Term. RR. Co. 1st mort., gold, guar.o* 1;l. .... . 62 62 172 172 522 504 i22 122 . 18 113 91 113 ..97 409 45 28 28 18 13 14 1887 $1,000 f5,500,000 6 g. 1889 1,000 1,065,000 5 g. 100 2,000,000 ..5.g. 1,000 1,850,000 100 4,310,000 ··:s°g. 1,000 4,310,000 100 6,250,000 See text. l,OO0&c 14,000,000 g. 1892 400,000 ·ioo 2,396,450 ..tfg. 1,000 2,041,000 1,000 1891 106,000 6 100 ...... 555,200 6 per an. 1,500,000 5 per an. -·-· ·--· 1878 25,000 150,000 10 1885 5,000 450,000 6 .... 100 8,768,100 5 per an. 1855 100 &c. 417,800 6 1,000 1874 9,081,000 5 1,000 1871 500,000 7 1,000 1865 350,000 7 1891 1,000 400,000 5 g. 1885 275,000 6&6 g. ·-·· 1886 130,000 5 g. 1888 375,000 5 g. isso isoo isso iso2 t i:ooo Richmond & W' est Point Termlnal.-<Concluded.) BoNDB.-Tbe 6 per cent trust bonds of 1887 (see abstract of mortgage, V. 45, p. 575) are a first lie:a on the following: Rich. & Dan. stock .... $1,760,900 West N. C. consols. ... $1,325,000 E.T.Va. & Ga.1st pref. 6,000,000 do 2d mort .. 4,110,000 Col. & Grf'en. com. . ... 1,000,000 do do pref.... 1,000 Total par value .... $17,296,900 Va. Midland stock..... 3,100,000 The consol. collateral trust 5 per cent mortgage bonds of 1889 (trus• tee, Central Trust Co.; see abstract of mortgage in CHRONICLE, V. 49, p. 115), are a second lien on the securities pledged for the 6 per cent bonds and on $2,500,000 Richmond & Danville stock,pledged for the preferred stock, and a fl.rat lien on the following: Char.C.& Aug.RR.st'k. $1,300,000 N' east.RR.ofGa.g'n.M. $315,000 Va. Midland Ry. stock. 470,000 do do stock. 120,(J00 WesternN C.RR.,com. 3,160,000 Rich.&Meck.RR.stock 300,000 do do pref. 3,160,000 Rich.& Dan. RR.stock. 708,100 Ga. Pacific Ry. stock.. 4,370,000 E.Tenn.Va.&Ga.lstpf. 2,283,200 do do inoomemort. 1,397,000 do do 2d,Pf. 4,225,000 Ga. Co. 5 p.o. col. trust. 3,447,000 Central RR. &Banking A.sh. & Spart.RR.2dM. 215,000 Co. of Ga. stock...... 220,000 do do stock. 1,040,000 Geor~a Co'y stock. . . . 11,990,000 Wa,sh.O.&W.RR.ino. . 625,000 do do stock. 1,500,000 Total.. .. . ...... . ..... $40,845,300 In 1890 the company ~aranteed $6,000,000 Cincinnati Extension bonds, issued Jointly by Richmond & Danville and East Tennessee, Vir· .dnia & Georgia and secured by deposit of the stock purchased in ob• falnlng control of the "Erlanger" roads. GENERAL FINANCES, ETC.-A plan for readjustment of the Rich· mond Terminal finances was issued in March, 1892, by the Olcott committee, but the underlying securities failed to come in. See V. 54, p. 487. Messrs. Drexel, Morgan & Co. were asked to undertake the reorganization but declined on the ground that they could not secure the co-operation of all factions. See V. 54, p. 888, and V. 55, p. 23. EARNJNGS.-The Olcott committee presented the foliowing stateme!lt showing the result of operating the present system. Gross earnings in year 1890·91 (including Alabama Gt. Southern but exoiuding the Central of Georgia) ......... . $28,338,500 Net earnings over expenses and taxes............. . ........ 8,744,736 Fixed charges.. . ............ . ................................. 9,474,837 .ANNuAL REPORT.-For the year ending June 30 the earnings of all railroad lines then controlled were a8 follows: 1888·89. 1889·90. 1890-91. Miles operated November 30.. 7,521 8,558 9,052 Grose earnings ................. $35,596,983 $U,361,095 $13,849,34.4 Net earnings .............. . .... $11,699,512 $13,132,903 $13,968,464 Charges............ .... .. . . . ... 9,434,445 10,637,185 11,455,457 I I · Surplus . .....·. . .... . . .. •.... $2,265,067 $2,495,717 $2,513,007 The company's report for year endin.,. November 30, 1891, was given at length in V. 53, p. 878, and showed the following income account. .Re1'enue1890-91. EX'J)enses1890-91. Divs. Rich. & Dan ...... $467,620 Int. 6percentcol. trust . $330,000 Divs. E. T. lBt pref.... . 175,664 Int. 5 per cent col. trust. 553,250 Divs. Cent. RR. of Ga . . 316,964 Interest on Ga. Co. 5s ... 27,650 Int. E.T. 1st mortgage . 18,000 Divs. on pref. stock..... 249,850 Various interest.... . ... 281,685 Gen. and legal expenses 66,252 Total .. .. •·•···•· -•·· .. $1,259,933 Total · ·· · ·········· ·· · .$1,2 2 7,002 Net for year ... ••••••••••••••• - • • • • · · · · · · · • • - · · · -· • • • · · • • - • • • $32,931 -(V. 53, p. 96, 224, 256, 408,475,641,674,713,754,804,846, 8'78 , 881,921,969; V. 54, p. 34, 79,120,329,410,443,486,487, 560, 561, 598, 643, 684, 762, 846, 888, 924; V. 55, p. 23, 59-l 147, 178, 216, 257, 298, 332, 463, 504, 590, 724, 895, 938, 1078; V. 5o, p. 43, 82.) Kio Grande Jnnctlon.-Owns road from Rifle Creek, Col., to a connection with the Rio Grande western at Grand Junction, 62 miles. This is a connecting link in the standard-gauge route between Ogden and Denver and Colorado Springs. Leased by Colorado Midland and Denver & Rio Grande at 30 per cent of gross earnln~s, which companies jointly and severally guarantee the bonds, principal and interest. Stock is $2,000,000 (par, $100), of ~hich Colorado Midland (Atchison) July 1, 1892, owned $737,150. (V. al, p. 829, 830; V. 52, p. 204,) Kio Grande south.ern.-( see Map Denver fl Rio 0 1•ande.J-Roa.d completed Jan 1892, from Dallas (new name Ridgeway), Col., on the & Rio 0rande Southerl to Duran go 165 miles and branch to D enver ' Y q ' ' Telluride, 7 miles, all narrow gauge. B-uilt m the intere8t of the Den. & Rio Grande. Mortgage (trustee, Central Trust Company of New York) is for $5,000,000 at $25,000 per mile on road and equipment. See abstract of mortiage V. 54, p. 163, and application to New York Stock Exchange in full in V. 54, p. 446. EARNINGS.-July 1 to Nov. 30, 1892 (5 months), gross $342,885, against $163,221 in 1891; net, $174,571, against $96,184; interest, etc., $104,934; balance, surplus, $69,637. In year ending June 30, 1892, gross earnings, $491,607; net, $267,400; interest charge on 112 m.ilea operated during the year, $140,000; balance surplus, $127,400. -(V. 53, p. 674; V. 54, p. 160,163,444,446; V. 55, p. 463, 164, 1036.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis F. & A. Feb. '92, coup. last paid. Feb. 1, 1897 M.& S. Mar.'92, coup. last paid. Mch. 1, 1914. J. ··Jr:n. N. Y., Maitland, P.& Co. 0 Dec: 0 l," i939 1; J.-·,r·J. N. Y., Maitland, Pheis Juiy • ·i940 Q.-F. N.Y.,offlce,32Nassau t. Feb. 1, 1893 J. & J. N. Y., State Trust Co. July 1, 1939 N. Y., Of., 32 Nassau St. 1893 M:·&··s . J. & D. J. & J . J. & J. J. & J. J. & J. Q.-F. M.& S. A. & 0. J. & J. M.&N. F. & A F. & A. A. & O. M.&N. N. Y .. Ed. Sweet & Bait. Balt. Mere. Tr.&Dep.Co. N.Y.,b<)N.Y.L.E.&W.Co N. Y., orn Exch. Bank. do do do do N. Y., Gr. Cent. Station. do do do do do do do do do do do do do do do do Moii." 1...i922 $21,000 Dec. 1 Jan. 1, 1893 Jan. 1, 1893 Jan. 1, 1906 Jan. 1. 1925 Feb.15,1893 B~t. 1, 1910 J y 1, 1922 July 1, 1901 May 1, 1915 May 1, 1915 Feb. 1, 1915 tfa,r· 1, 1916 y 1, 1918 Kio Grande Western.-< See Map.J-LINE OF ROAD-Owns Cre• vasse, Col., to Ogden, Utah, 310 miles, to Alta, Bingham Coal Mines, etc., 47 miles; San Pete branch, Thistle to Manti, 61 miles; Bevier RailwttJ (proprietary line-all securities owned), Manti to Salina, 26 miles; Tintle Range Ry. (proprietary line, all securities owned)-Springville to Eureka, and spurs. 52 miles; total owned, 496 miles. Leases Crevasse to Grand Junction, 18 miles. Total operated, 514 miles. Also owns 11 miles of tramways. The Rio Grande Junction Road, 64 miles, opened in November, 1890, affords a through connection of standard gauge to the Denver & Rio Grande and the Colorado Midl'd. (See V. 51, p. 680.) HIST0RY.-Formed in June, 1889, to succeed the Denver & Rio Grande Western, by plan of March, 1889, for widening gauge and re• tiring old securities with new issues. See V. 48, p. 429; V. 52, p. 941. CAPITAL STOCK.-Common stock authorized and outstanding, $10,· 000,000; preferred stock authorized, $7,500,000; outstanding, as in the table; par, $100. Preferred stock is entitled to 5 per cent dividend, non•cumulati ve, then common stock to 5 per cent, after which both classes of stock share pro rata. In June, 1892, common stock for $2,500,000 was sold to common and preferred stockholders at 40, the proceeds paying for all the securities of the Tintle Range Ra.ilway, completed in March, 1892. See V. 54, p. 526,762. , An increase in preferred stock from $5,000,000 to $6,250,000 in 1891, was taken by stockholders at $65 per share. See V. 52, p. tJ'o'?• DIVIDENDS.-Preferred stock-A dividend of 219 per cent in-preferred stock was paid February, 1891, a.nd the first quarterly eaf!h, divideud of 114 per cent May, 1891; Aug. 114; Nov., 114. ,In 1892, .,febrqa,ry, 114 per cent; May, 114; August, 114; Nov., 114; in 1893, Feb., 1¼ p. ct. PRICE OF STOCK-Common-In 1890, 15@247e; in 1891, 23@44; in 1892, 23@41; in 1893, to Jan. 20, inclusive, no sales. Preferred stock-Ia 1890, 40@55; in 1891, 5514@75 7s; in 1892, 63@74-; in 1893, to Jan. 20, inclusive, 62 @62. BONDS.-See abstract of mortgage (Central Trust Co., truatee) in V. 49, p. 237, and statement to New York Stock Exchange in V. 50, p. 73. LATEST EARNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 months), ~oss $1,200,071, against $1,226,848 in 1891; net, $460,632, a"ain t :t!502,802. ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting is held on fourth Monday in July. Full nport for 1891·92 with balance sheet, etc., was in V. 55, p. 1063, 1077, 1079 . 1889-90. 1890-91. 1891·92. Mileage.... . ................. . . . 387 407 512 Gross earnings ...... . .......... $1,622,234 $2,346,130 $2,643,924 Total net income............. . . 520,686 856,783 928,571 Cnterest paid on bonds......... 393,500 535,500 560,000 Rental and miscellaneous .. . .. 11,143 15,144 37,1.2<t Dividends ................... . .. _ _ _ _ 255,369 312,398 Total payments. ........... $404,643 $806,013 $909,519 Snrplus.................. . .... .. $116,043 $50,'770 $19,051 -(V. 52, p. 126,499,574; V. 53, p. 59,187,324,408, 6561 6'721. "8'74; V, 54, p. 243,526,598,762; V. 55, p. 100, -l20, 1063, 10'1,, lu'f9.) Roanoke & Southern.-Owns from Roanoke, Va., 1'ia Walnut Cove, on Cape Fear & Yadkin Valley Railroad, to Winston, N. 0., 122 miles (completed in March, 1892), and from March 1, 1892, leased for 999 years to the Norfolk & Western, which guarantees (by endorsement on the bonds) the principal and interest of the first mor gage bonds; and the lessee also agrees to pay over any balance of earnlngs after operating expenses, taxes, interest, improvements &o. ·aee V. 54, p. 405, 601. The first mortgage (trustee Mercantile Trust & Deposit Company of Baltimore) is for $2,041,000, and in additlen : thereto $15,000 per mile for extensions not to exceed in the aggregate 100 miles, and $10,000 J?er mile for bran~hes not to exceed 50 miles. (Se~ V. 54, p. 684.) Capita.I stock authorized $8,000,000; outstanding $2,.:>96,400, of which Norfolk & West. owns $1,837,800; par of shares, $100. (V. 54, p. 405, 601, 684, 889.) Rochester & Genesee Valley.-Owns from Avon to Rochester N. Y., 18 miles. Leased July 1, 1871, in perpetuity, to Erie Railway R t I $34 012 J B k tt p id t R h t N y en a' ' · atnes rac e • res en • oc es er, · • Kock Island & Peoria-owns from Rock Island, Ill., to P&<>rla, m., 91 miles; Rock Island & Mercer County Railroad, 22 miles; total, 113 miles. The Peoria & Rock Island was sold in foreclosure April 4, 1877, to the bondholders. In year 1889·90 gross earnings were $6515 · 106; net, $345,321; surplus over interest, taxes, &c., $285,5$4; divid~nds, $ 75 ,000. In year 1890. 91 , gross $ 764 595 . Semi·annual dividends of 5 per cent per annum have been paid. President, R. R. Cable. '"' Rome Watertown & Ogdensburg.-( See Map New York Oentral & Hudson River Railroad.J-Owns from near Niagara Falls to Massena Sprin.,.s, N. Y., 299 miles, less 28 miles, Richland to East Oswego, leased fi'om the Oswego & Rome RR.; Richland 1i<' Rome.41 miles; branches to Cape Vincent, Ogdensburg, Pulaski, Fulton, etc., 109 miles; total owned, 421 miles. Lea.see Utica & Black River Railroad. Utica to Ogdensburg, and Clayton branch, 150 miles ; Oswe~o & Rome Railroad as above, 28 miles; Carthage Watertown & Sackett s Harbor Rall:road, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MA.PO FTBE 0 IIESA LAVACA 0 N M JANUARY, 1893,) Subscribers -will confer a great Cavor by giving innnediate notice oC any error cliscovei.·ed in these Tables. I Bonds-Prine!• INTEREST OR DIVIDENDS. RAILROADS. When Due. Miles Dof ate Size, or Amount R ate p er When Where P ayable, and ay pal, Par Out For explanation of column h eadings, &c., see notes of Stocks-Last tanding Roa d. B onds Va lue. Cen t . P ayable Whom. on first p a ge of tables . Dividend. -- - - - ------- Borne Watertown & o,densbiwg.-( Ooncliidecl.J Utica&Bl. Riv. st' ,7p.c.perpet. gu.byR.W.&O. Black River & Morristown 1st mortgage ...... c Clayton & Theresa 1st mortgage ....... . .. . .... c 1st mort. on 98 miles, 2d on 52 miles, g., guar.c* Buttand---Stock, preferred . .......................... General mortgage (8 per cent, reduced to 6) ..... c 2d mortgai:v:e in exchange for eq uipm't bonds, &c .. c First consol. mort. for $3,500,000, gold ...... c*&r Sag. Tuscola & H,iron -lst M., $15,000 p ..::::i.,gold.c* -Saginaw Valley ct; St. Louis-1st mortgage ...... c&r St. Johns"bury ct: Lake Champlain-Common. stock . . Preferred stock ... ....... _. _......... _.. . ........... 1st mortgage .. ............ . ....... . ...... . . . .. _.c&r Consolidated mortga e (for $1,000,000), gold .. c* Bonds for $2,500,00 . ............. . ............... 1 50 36 16 150 120 120 120 120 67 36 ..... ..... 131 131 131 St. Joseph c1, Grand island-Stock . ........ . ......... .... 1st mortgage, gold., interest guar. by U.P ...... c* 252 2d morl i e , inco~ gold ............... . ... . .. c* 252 Kan. C. . RR. ls .($15,000p.m.)g.,int.gu.c*&r 196 Bt. L. Alton cf: Springfield.-SEE ST. Loms CHICAGO & ST. PA 8t.Louis.A.ltonct: Terre Haute-Common stock .. .... . Preferred stock (7 cumulative) convertible ... .... -·· · 1st mort., se:rie§. A, sinking fund, not drawn .. . c* 207 1st mort., series B , sinking fund, not drawn . . . c* 207 2d mort\age, preferred, series C .... .... ..... . c"'" 207 Do o Series D ........ . .... . . .. . . ... . c* 207 2d mort!age, incomes ... _. . . . . .......... . ...... c• 207 Dividen bonds, income (see Y. 48, 11. 389) ... . .. ...... 8 ' 68-71 $100 $1,103,000 7 p er a n. M.& S. N. Y., Gr. Cen t . Sta tion. 1874 500 &c. 500,000 7 J. & J. do do 1873 500 &c. 200,000 7 J. & J, do do 1,000 4 g. J. & J. 1890 1,300,000 do do ....... 100 4,239,100 4 per an. J. & J. Rutland, Clem. Nat. Bk. 1872 100 &c. 1,500,000 M.&N. Bos.,GlobeNatBk.&Rut 6 1878 100 &c. 1,500,000 F. & A. 5 do do 1,000 1891 New York City. 500,000 412g. J. & J. 1,000 1891 1,000,000 New York City. ~ g. M. & S. 1872 1,000 446,000 M.&N. Boston, Second Nat. Bk. ...... . ... 50 2,550,090 ·-··---·-.... 50 1,298,500 ...... . .. ......... ..6. 1,000 A. & 0. Boston, B. & L. RR. Of. 1880 550,000 1,000 91,000 5g. &6 Various 1884 do do ..... . ... . . 4 ... .. . ... .. .... . ..... 100 4,600,000 i885 1,000 6,998,000 ..6.g. M. ·&:N. N. Y. , Centri:tITrust Co. 1,000 5 g. J. & J. 1 ,679,000 1885 See text. 2,713,000 5 g. J. & J. N. Y., Central Trust Co. 1887 500 &c. UL. 100 2,300,000 . . . .. ··-·· ·--·100 1,170,800 See.text. ..&.. --· · 1,000 1,100,000 7 1862 J. J. N.Y., ifi:i."Ti-ustCo. 1,000 1,100,000 18 62 A. & 0. 7 do do 1,000 1,400,000 F. & A. do do 18 62 7 1,000 1,400,000 18 62 M.&N. do do 7 1,000 1,700,000 1 862 7 M.&N. do do 1,357,000 1,000 June 1 1881 6 --· -· · · ·· · ........ ---· (Jarthage to Sackett's Harbor, 30 miles; trackag-e-to Niagara Falls, 2 miles; Fulton to East Oswego (New York Ontario & Western Railway), 12 miles; total leased, 222 miles Total operated, 643 miles. In March, 1891, leased dtu·ing the full term of its corporate existence .and renewals thereof to the New York Central & Hudson River RR. -Co., which assumes the debt and guarantees 5 per ce11t on the stock. The stockhold-ers received a stock dividend of 20per cent. For wording of guaranty see Y. 52, p. 463. Stock authorized $10,000,000. Earnings are included in those of the lessee. . Dividends from 1887 to February, 1891, both inclusive, at rate of 6 per cent yearly; March, 1891, 20 per cent in stock; in May a nd thereafter 5 per cent per annum guaranteed. The consol. 5s due 1922 have their interest payable in gold, but not their prinCiJ?al. The Utica& Black River is leased in perpetuity, mterest on bonds and 7 per cent on stock being guaranteed. The consolidated mortgage bonds of 1890 are guaranteed, prillcipal and interest, by the Rome Watertown & 0°densburg. See V. 50, p. 771. The Oswego Rome road is leased in perpetuity, and the second mortgage bonds guaranteed by Rome Watertown & Ogdensburg by •ndorsement, (V. 52, p. 39, 322, 463,498,796; V. 53, p. 713, 793.) i Kutland,-Owns from Bellow's Falls, Vt., to Burlington, Vt., 120 miles. This road has been through many changes. LEASED in 1890 tor 999 years from January 1, 1891, to the Central Vermont. the rental being $345,000 per annum; this will be increased by $25,000 per annum as new equipment and other permanent improvements are put upon the property during the next three years, making the rentaJ. $370,000 per annum, payable monthly in gold. The net in~ome will pay 4 :per cent on the preferred stock now, and after the funding of existmg mortgages may pay 5 per cent. See V. 53, p. 124. STOCK.-The Delaware & Hudson owns $3,000,000 of the preferred and $1,000,000 of the $2,480,60<1 common stock, pal' $100. DIVIDENDS -0n preferred stock sinco 1880-In 1881, 112 per cent; in 1882, 2; in 1884 and 1885, 1; in 1886 and 1887, 112; ln 1888, 1; in 1889, 112; in 1890, 3 ; in 1891, 2; in 1892, Jan., 2, July, 2; in 1893, January, 2 p. c. BONDS.-The secon d mortgage is a first lien on rolling stock and personal property. The consolidated mort~age (trustee, U. 8. Trust Co. of N. Y. ,) is for $3,500,000, but of this $;:s,000,000 can be issued only .as prior bond-a for like amount retired. Y. 53; p. 124; V. 55, p. 255. Saaina-w Tuscola & Huron.-Owns from Sa,"'ina w, Mich., to Bad lie, 67 miles. Opened as a standard o-auge roaa June 29, 1891. -Cammon stock authorized, $600,000; par $180. The first mortgage is t o the Continental Trust Co. as trustee. From January 1 fo Nov. 30, 1892 (11 months), gross earnino-s were $114, 574, against $98,000 i n 1891; n et , $34,330, against $22,052. Wm. L. Webber, President, Sagi naw. St . .Tohnsbury & Lake ChaDlJ;>laln.-Owns from Lunenberg, Vt., to Maquan Bay, on Lake Champlam, 120 miles, and branch from North Concord, Vt., to East Haven, 11 miles; total, 131 miles. This was . the Portland & Ogdensburg, Vermont Divisi<m, reorganized under present title in 1880. In September, 1890, $2,500,000 of 4 per cent bonds were authorized to fund floating debt, (which on June 30, 1891, amounted to $1,200,053), and for other purposes, but none had been -iissued up to March 1, 1892. Operated by Boston & Maine, which on Oct. 1, 1892, OWDed $510,000 bonds. In year ending June 30, 1891, gros~ earnmgs were $386,493j deficit, $3,364; interest, &c., $38,050; deficit, $41,414, (V. 51, p. 340.) St • .Yoseph & Grand Island.-(See Map of Union Pacific.JLINE OF ROAD-St. Joseph, Mo., to Grand Island, Neb., 252 miles; Kanas City & Omaha Railroad, Stromsburg to Alma, 151 miles, and McCool .Junotion to Kansas City & Omaha Junction, 44 miles; total, 447 milea. HISTORY, GUARANTY, ETC.-Successor of the St. Joseph & West., sold foreclosure in 1885. Operated by the Union Pacific, which owns 2,301,500 of the $4,600,000 stock (par, $100), and guarantees the in· terest on the first mortgage bonds. In January, 1892, a new adjustment was made with Union Pacific by which $35,000 is deposited monthly for interest on the 1st mortgage bonds, and the St. Joseph & Grand Island is not responsible for more than half the interest on the Kansas City & Omaha bonds. In June, 1892. all but $150,000 of the $1,679,000 of the income bonds had assented to the agreement with the Union Pacific under which coupon -0.ue July 1, 1890, was to be paid. (V. 54, p. 79, 965.) KANSAS CITY & OMAHA bonds have interest guaranteed by St. .Joseph & Grand Island and Union Pacific under a perpetual agreement for operating the road. The Union Pacific owns $1,182,500 bonds and $1,595,500 of the $4,410,000 stock of the Kansas City & Omaha, and St. J osenh & Grand Island owns $1,822,500 stock. EARNINGS.-From Jan. 1 to Nov . 30, 1892 (11 mos .) , gros s earnings were$1 ,128,036, against $828,985 in 1891; net, $403,025, aga inst$l 79,881. In 1891 gross earnings, including Kansas City & Omaha, $983,,663; net, $252,761; total net income (including amount received from Union Pacific under traffic agreement, etc.,) $424,835; interes t on bonds, "$420,000; corporate expenses, $3,725; due Kansas Cn y & Omaha nder traffic agreement, $129,397; deficit for year, $128,~87. In 1890 gross $1. 253,591; n et, $355,454. (Y. 54, p. 79,243, 965.) St. Lo\iii Alton & Sprlngfield.-(SEE ST. LOUIS CHICA.GO & T. P A.UL.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Sept. 30, 1892 Jan. 1, 1894 July 1, 1898 July 1, 1922 Jan. 1, 1893 Nov. 1, 1902 Aug. 1, 1898 July 1, 1941 Sept. 1, 1931 May 1, 1902 oci: • 1; ·i910 Apr. 1, 1914 m . ..... May· 1,- .i926 July 1, 1925 Jan. 1, 1927 Jan:1o;·i889 July 1, 1894 July 1, 1894 July 1, 1894 July 1, 1894 July 1, 1894 AfterJan.,'94 St, Louis Alton & Terre Haute.-(See _Jfop.J-Proprietary llne, East St. Louis to Belleville, 14 miles. Leases: Belleville & Southern Illinois Railroad, Belleville to Du Quoin, Ill., 57 miles; Belleville & Eldorado RR., from Du Quoin to Eldorado, 50 miles; Belleville & Caron delet RR., from Belleville to East Carondelet, 17 miles ; St. Louis Southern, Pinckneyville to Carbondale, Ill., 31 miles; Carbondale & Shawneetown Carbondale to Marion, 17 miles; Chicago St. Louis & Paducah, Marion to Paducah, and branch, 53 miles; total operated, 239 miles. This is the Cairo Short Line. ORGA.NIZA.TION.-Sucoessor to the Tene Haute Alton & St. Louis sold in foreclosure in 1861. In October, 1890, the main line from East St. Louis, Ill., to Terre Haute, Ind., 189 miles, and branch, 4 miles, which had there tofore been leased to the Cleveland Cincinnati Chicago & St. Louis, were sold to tha t company for $10,000,000 of 4 per cent 100-year gold bonds. See below and Y. 51, p. 52, 114,383,494. DIVIDENDS on preferred stock since 1876.-In 1878, 2 per cent; inl881, 3 and 55 in bonds; from 1882 to 1885, inclllsive, 7; in 1886, 2~; in 1887, uil; in 1888, 114; in 1889, l; none since. STOCK AND BONDS.-The preferred stock has a prior right to a oumu• la tive dividend of 7 per cent before any is declared on common and the arrear s accrued to J a n. 1, 1891, amounted to 37¼ per cent, or $944,163. The preferred stock is also convertible into common at pa.r. The sale of the main line did not affect the status of this company's securities. Of the $10,000,000 bonds received, ~250,000 were placed in a sinking fund for the issue itself (bonds to be purchased, aot drawn. at or under 105), and $6,700,000 are reserved to retire the bonds maturing in 1894. Of the bonds immediately at the disposal of the company, $2,500,000 were offered in exchange for the preferred stock, being sufficient to retire all but $800,000 thereof, at the rate of $150 in bonds for $100 of stock. To Sept. 1, 1892. $1,297,600 of preferred stock and fractionals h a d been retired. leaving $1,813.000 bonds in the company's treasury. See V. 52, p. 42, 81, 351, 499, 720. Of the $2,200,000 Series A and B bonds giv en in the table above as outstanding, $1,093,000 on Jan. 1, 1892, were in the sinking fund. On Jan. 1, 1892, there were $100,000 bills p ayable, issued in 1891 for improvement of terminals. St. Louis Alton & Terre Haute 7 per cent bonds carry the right at stockholders' meetings to 10 votes. St. L. Alt. & T. H. dividend bonds are not entitled to receive anything for principal or interest until all arrears of dividend upon the preferred stock and other prior legal claims shall have been adjusted, and a sur• plus of annual earnings- reached which will be applicable to such divi d.end bonds. See V. 48, p. 389. LEASED LINES-The Belleville d! So. Illinois is leased to this company for 999 years from Oct. 1, 1866. Lease rental 40 p. c. of gross earnings up to $7,000 per mile (except on coal, &c.), 30 per cent above $7,000 and u.e to $14,000 per mile, and 20 per cent on any excess of $14,000 per mile. Interest and sinking fund $5,000 per year guaranteed. Common stock of Belleville & Southern Illinois is $430,000 and preterred $1,275,000, and dividends on preferred stock have been-412 in 1881; 512 in 1882; 614 in 1883; 5½ in 1884; 5 in 1885; 5 in 1886; 6:\J, in 1887; 6¾ in 1888 and 1889; in 1890, 825 ; in 1891. 8·53; in 1892, 8 . The Belleville ct: Oa1·ondetet is leased for 983 years from June 1, 1883, at a rental of $30,000 per year, which is a guarantee of interest on the bonds, the stock of $500,000 bein"' ownea by the St. L. Alt. & T. H. The Belleville cf: Eldorado is leasei for 985 years from July 1, 1880, at rental of 30 per cent of the gross earnings, but $15,400 per year guaranteed. Stock, $1,000,000; par, $100. The St. Louis Southern Railroad (including Oa1·bondale cl: Sttaioneetown) is leased for 980 years for 30 per cent of gross earnings, minimum to be $32,000, and interest on bonds being guaranteed to that extent. Stock $500,000 (par $100), listed in New York in December, 1892. Dividend of 5 per cent was paid for year 1891-92, when rental amounted to $75,384. The Ohieago St. Louis cl: Paducah Road is leased for 978 years from March, 1888, at 30 per cent of gross earnings, with gua1·antee of principal, and rental to pay first mortgage interest. (V. 47, p. 801.) The first mortgage bonds on this road are redeemable after September 1, 1892, at 105. LA.T~~sT E.A.RNINGS.-From Jan. 1 to Oct. 31, 1892 (10 months), gross $1,246,996, against$1,175,121 in 1891; net, $517,288, agst. $498,584. ANNUAL REPORT.-Fiscal year ends Dec, 31. Annual meeting is held at St. Louis first Monday in June. Repo1·t for 1891 in V. 54, p. 720. Y ea1· ending Dec. 31. 1888. 1889. 1890. 1891. Gro,,,., Aarnings .... . ........ $949,307 $1,110,426 $1,336,910 $1,435,624 Netea1.ning . .......... ·-··· 400,796 461,748 527,767 580,956 Rentals paid.... . .......... 249,936 332,095 362,149 393,911 a: Net revenue . . .......... $150,860 Add rental main line, etc.. 452,540 Tota l net receipts ..... $603,400 Cnterest, funded debt, etc. 487,701 B alance, surplus ... .. ..... 115,699 New eq'pt. and bet·ments. 50,481 $129,653 452,729 $165,618 *440,412 $187,045 '"368,135 $582,382 $606,030 523,078 479,608 59,304 126,422 40,000 136,388 $555,180 469,000 86,180 161,505 -------- .. Includl..r.i~ interest on C. C. C. & St. Louis bonds in 1890 and 1891. - (Y. 52, p. 42, 81, 35 1, 499, '11 '1; V. 54, p. 524, '120.) St. Louis tl.rkansas & Texas.-SEE ST. Lours SOUTHWESTERN. St. Louis & Cairo.-Owns Cairo to East St. Louis and branch, 161 miles. The form er Cairo & St. Louis made default April 1, 1874, ~nd. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis [VoL. LVI. MAP OF THE ST. LOUIS, ALTON AND TERRE HAUTE R. R. AND LEASED LINES. J.t;NtTA.KY, 1893.j Subscribers w-Ul con.f'er a great favor by giving lmIDedlate notice of any error discovered In these Tables • .R.All,ROADS. INTEREST OR DIVIDENDS. B~WhPrinciD Miles Date Size,or Amount - - - - - , - - - - - - - --~ - - - - - pa¼ en ne. For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. -----1- Bt. Louis Alton cf: Terre Haute-(Oonctuded.)LE.A.SED LINES. Belle. & So. ru.-lst M. (int.guar.) s. f., not dr'n.c* Belleville & Carondelet, lstM.,Belle.toE.Caron.c• Belleville & El Dorado-1st (int'estguaranteed)c* slL~~:ft8iiern::...·iai ~ori:, ·goi<i: iiii.· guar:: :~: 2d mortgage income, non-cumulative ........ c* 56 16 50 50 31 31 17 53 53 161 1 Carbondale di; Shawneet'n 1st M., g.,int. guar.c* Chic. St.L.& Paducah 1st M., g.,red at 105 ~ar.c* 2d mortga~e, gold, income (non-cumulative) .c* St. Louis fl l'a-iro-lst M., gold, int. guar. M. & O•. c St. Lou. Oape Girard'it cf: Ft. Smith-Old div. bonds Cape Girardeau 8.W. consol. mortgage ....... gold io2 Arkansas Extension 1st mortgage, gold ... c*&r 65 St.Louis Ohicagocf: St. Paul.-lst m.,$1,250,000 g.,c 87 St. L. Ootlinsv. cf: Oarondetet-lst M., $1,500,000, g.c St. Louis Kennett cf: Soiithent.-lst mort., gold ... c* 21 8t. Louis Me1·chanls' B1'idge Terminal.-lst mort .. c ... . Merch.BridgelstM.,red.afterFeb.1, 1909, at 110 .. .. Bt. L. cf: San..Fran.-SeeAtchison T. & 8. Fe system. St. Louis Soitthwes'ern-Common stock............. . . . . Preferred stock (5 per cent non-cumulative) . ..... . . . . 1st mort. certificates, $16,500 p. m., gold ...... c* 1,222 2dM.income cert., $10,000,000,non-cum.,gold.c* 1,222 Car trusts July 1, 1892 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . St.Louis Van. 4TerreH.-1stM., guar. s.f. notdr .c* 158 2dmort., sink. fund, not dr'n ($1,600,000 guar.) .c* 158 Bt. Paul cf: Duluth-Common stock.................. .... Pref. 7 per cent stock and scrip subj. to call at par itii ~~ti:o~~i~:::::::::::::::::::::::::::::::::::::~: Taylor'sFalls&LakeSup., lstM. gu.,s. f. notdr.c* 167 21 1866 $1,000 1883 1,000 1880 1,000 1880 1,000 1886 1,000 1886 1,000 1887 1,000 1887 1,000 1887 1,000 1886 500 &c. 1880-5 1,000 1888 1,000 1890 1,000 1892 1,000 1891 1,000 1891 1,000 1890 500 &c. 1889 1,000 .. .. 100 .... 100 1890 1,000 1890 500&c. 1891 various 1867 1,000 1868 1,000 .... 100 issi 100 1887 1884 ½:888 1,000 was soid ill. foreclosure July.: 1881. Stock is $6,500,000. 1n January, 1886, a lease was negotiatea till January 1, 1931, to the Mobile & Ohio RR. on the basis of a rental of 25 per cent of 150-640ths of the gross revenue of the whole line, Mobile to St. Louis, this rental being guaranteed by the lessee to amount to $165,000 per year. In year ending June 30, 1891, gross, $806,679; net, $177,424 (against $159,939 in 1889-90); rental to St. Louis & Cairo, $191,914. Rentals in 1891-92, $185;790. St. Louis Cape Girardeau & Fort Smith.-( See Map.)-Owns from Cape Girardeau, Mo., to Hunter, Mo., 94 miles; leases branch to Zalma, 9 miles; total operated, 103 miles. Successor to the Cape Girar• deau Southwestern; name changed in May, 1891. The road is to be extended 45 miles from Hunter to Mammoth Springs on Arkansas State Line. An extension is also projected thence to Fort Smith, Ark. Stock authorized, $2 000,000; outstanding, $1,150,000; par, $100,· A general mortgage for $7,500,000 is authorized, of which $1,325,000 is to retire underlying issues at maturity and balance for construction of new roa4 at not over $15,000 per mile, and for im:\)rovements upon present line at not over $3,000 per mile. None of this issue had been put out prior to Dec. 10, 1892. There are also outstanding $150,000 7 per cent incomes. In 1891 gross earnings, $174,612; net, $80,847. In 1890 gross, $165,807; net, $85,677; President, Louis Houck, Cape Girardeau, Mo. (V. 54, p. 441.) St. Louis Chicago & St. Paul.-Ro.rn-Owns from Bates, Ill., to Alton, ru., 87 mile3; uses Wabash tracks to Springfield, 13 miles; It is proposed to have the road completed from Bates to Sprin,1tfleld, and from Alton to East St. Louis. making 120 miles in all, by Dec, 1, 1892. Successor to the St. Louis Alton & Springfield, sold in foreclosure July 9, 1892. STOCK authorized and outstanding, $2,000,000-par $100. BONDS-The new mortgage (trustee Atlantic Trust Co.) provides for building the above-mentioned extensions, and covers all the road, its equipment and terminals. EARNINGS-In year 1889-90 gross earnings were $115,712; net, $8i,184. (V. 54, :p. 204,924; v. 55, p. 100.) Post, Martin & Co., 45 Wall t!treet, N. Y. Fiscal Agent. St. Louis Oolllnsvllle & Carondelet.-Organizell in October, 1890, to construct a double-track belt road from a point on the Mississippi River opposite St. Louis to East Carondelet. Stock authorized, $2,000,000. Mortgage trustee, N. Y. Security & Trust Co. St. Louis Iron Mountain & Southern.-SEE MISSOURI p .A.CIFIC. St. Louis Merchants' Bridge TerJDtnal.-This company has under construction a double-track raih·oad in the city of Bt. Louis, enending from near the Union Depot on 12th Street, via Main Street, Hall Street, &c , to Ferry Street op:posite the Merchants· Bridge etc. It leases the Merchants' Bridge, agreemg to pay the interest on the Bridge Co's $2,000,000 bonds; it owns and controls the Electric City & lliino18 RR. connectino- the town of Madison and East St. Louis; and leases the Venice & c"arondelet Belt RR., which forms an outside belt around East St. Louis. Extensive yards and terminal facilities will be maintained in St. Louis and East St. Louis. The mortgage of 1890 is for $3,500,000 to the St. Louis Trust Company, and covers all the property of the company. Both issues of bonds are subject to call after 20 years at 110 and interest. Stock authorized, $3,500.zOO0; par, $100. General office, St. Louis, Mo. C. C. Rainwater, Presiaent. St. Louis & San Francl111co.-SEE ATCHISON TOPEKA & SANTA FE. St. Louis South~estern.-Road extends from Bird's Point, Mo., opposite Cairo, lli,.z. to Texarkana, Tex., 418 miles, and thence by the Texas road to u-atesville, 305 miles; total, main line, 723 miles; branches, Ht. Pleasant to Sherman 110 miles; Tyler to Lufkin (narrow, gaug~)1 87 miles; Corsicana to Hilisboro, Tex., 40 miles; Commerce to Fort worth, 97 miles; Lewisville, Ark., t,o Shreveport, La., 60 miles; Altheimer to Little Rock, Ark., 42 miles; Malden, Mo., to Delta, 51 miles; other branches, 12 miles; total, July, 1892, 1,222 miles. ORGANIZ.A.TION.-Successor to the St. LolliB Ackansas & Texas, whose road was sold in foreclosure in October, 1890, the same property having been previously foreclosed in 1885-86 See plan of reorganization in (.,,"'HRONICLE, v. 50, pp. 141 and 561. The organization consists of three cc~ rations.-the St. Louis Southwestern Railway Co., the St. Louis So~t.c.•.'festern Railway Co. of Texas and the Tyler Southeastern. BoN-DS.-The first mortgage certificates are issued against a like amount of fust mortgage bonds secured upon these lines at a rate not exceeding $16,500 per mile, and the second mortgage certificates against second mortgage bonds at $8,250 per mile. The new incomes will receive from January 1, 1891, such interest, payable semi-annually, not exceeding 4 per cent per annum, as can be paid out of net earnings of the railways during the preceding fiscal year1 after payment of operating expenses, repairs, renewals, replacemenliS, taxes, msurance and interest on prior liens. The issue of these certijlcates may be increased up to $10,000,000, subject to restrictions J.n the mortgages. Bills payable were $270,261 July 1, 1892. EARNINGS.-From July 1 to·Dec. 31, 1892 (6 months), gross earnings were $2,672,740, against $2,682,705. ANNUAL REP0RT.-Fiscal year ends June 30. Annual meeting is held at Texarkana, Texas, on the Monday preceding first Wednesday in May. Report foi' J 891-92 was in V. 55, p. 587, showing earnings as follows, the road having been in the hands of the receiver until May 20, 1891, In the operating expenses are included in 1890-91 $1,089,160 for bet-t~rments, against $129,267 in 1891-92. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $1,015,000 485,000 220,000 330,000 550,000 525,000 250,000 1,000,000 1,000,000 4,000,000 111,000 889,000 175,000 750,000 (1) 180,000 (1) 2,000,000 8 6 7 6 ~ g. 4 5 5 4 6 6 6 6 5 6 5 6 g. g. g. g. g. g. g. g. g. g. A. J. J. F. & & & & M: t M. & M. & M. & J. & M. & M. & J. & r t· M. & & & A. & F. & 0. N. Y., State Trust Co. D. do do J. do do A. Pd.in '91, coup. Feb ..,_'.80 N. Yd0State Tr~~t vo. 8. do do 8. do do 8. None yet paid J. N. Y.,Farm.L.&Tr.Co. 8. N. Y., Coffin & Stanton. S. N. Y., Farm.L. & Tr. Co. J. do do 8. N. Y. Atlantic Trt. Co. J. NewYorkAgency. A. N.Y.,Cent.Tr.&St.Louis 0. N.Y.,F'rsL.&Tr. &St.L. A. N. Y.,Farm.L.&Tr.Co. Oct. June July Aug. :: 16,509,000 20,000,000 ··4;g, M:·&·N. 20,000,000 8,000,000 4. g. J. & J. 521,688 6 & 7 various 1,899,000 7 J. & J. 2,600,000 7 M. & N. 4,660,207 Bee text. . . . . . 4,962,210 See text. M. & 8. 1,000,000 5 F. & A. 2,000,000 5 A. & 0. 210,000 6 J. & J. Net earnings ....................... . Total net, incl. other income ........ . Taxes . . . ............ ........ ......... .. Interest on bonds ..................... . Rentals, etc ........................... . 1896 1928 1910 1920 ::~t ½: i~g} Mch. 1, 1932 Sept. 1, 1917 Sept. 1, 1917 Jan. 1, 1931 Sep.1900-1-2-5 Sept. 1, 1908 Jan., 1910 Sept. 1, 1912 July 1, 1931 Feb. 1, 1921 Oct. 1, 1930 Feb. 1, 1929 N. Y., Centrai'Ti-ust Co. After '90, when earned. N. Y., Central Trust Co. N. Y., Central Trust Co. do do N. Y., Of., 32 Nassau St. do do do do do do do do Gross earnings......... , .... .... .... .. . Operating expenses .... ........ .. .... . 1, 1, 1, 1, Nov:· 1.: i989 1, 1989 0 Nov. 1892 Jan. May July Sept. Aug. Oct: Jan. to 189& 1, 1897 1, 1898 5, 1887 1, 1892 1, 1931 1, 1917 1, 191-l 1890-91. $4,323,656 (,849,654 1891-92. $4,636,461 3,824,294 def.$525,998 $812,167 $937,26S 107,326 800,000 10,248 Balance, surplus ............ . ..... . $19,694 -(V.54,p.34,846;V.55,p.463,587. St. Louts Vandalia & Terre Haute.-(SeeMapPittsburg Oincinnati Chicago cf: St. Lottis.)-Owns from Ea-st St. Louis to Indiana State line, 158 miles. ORGANIZATION, LEASE, ETC.-Road opened July 1, 1870. Leased to the Terre Haute&Indianap. RR. (for account of itself and the Pitts. Cincinnati Chicago & St. Louis RR.) at a rental of 30 per cent of gross earn.ings. In 1889-90 it was agreed that in future the profits and losses from operating this road should be divided between the lessees in the proportion of five-sevenths to the Pittsburg Cin. Chic. & St. Louis and two sevenths to the Terre Haute & Indianapolis. The U. 8. Supreme Com-tin May, 1892, declared the lea,,;e under which the road is operated to be binding. V. 54, p. 846. CAPIT.!.L STOCK.-Stock, $2,379,358 common and $1,544,700 of 7 per cent cumulative pref. ; par $100. The Terre Haute & Indianapolis owns $326,000 preferred and $500,000 common stook, and the Pennsylvania RR. $837,000 preferred and $225,0,)0 2d mort. ungual'anteed 7s. and the Pennsylvania Company, July 1, 1891, $1 350,000 and $381,700 preferred. In October. 1891, the back dividends on the preferred were paid for 1879 and 1880. In April, 1892, for 1881 and 1882, and in October, 1892, for 1883 and 1884. BONDS AND GUARANTY.- The first mortgage and $1,600,000 of second mortgage bonds are endorsed by the lessees, and also by the Pittsburg Cincinnati & St. Louis (now the Pittsburg Cincinnati Chicago & St. Louis RR.), with an agreement to pm·chase the bond and its coupons as they mature, if not paid by the Vandalia. EARNINGS.-ln year ending Oct. 31, 1892, gross $1,869,966; rental to Bt. L. V. & T. H., $560,999; expenses and taxes, $64,784; net, $496,215; total net, including other income, $523,163; interest paid, $314,930; balance, surplus, $208,233. General surplus Oct. 31, 1890, $1,078,02b, and Oct., 1891, $575,673. In 1887-8 profit to lessee was $11,983; in 1888-~, $56,987; in 1889-90 profit $100,466. (V. 54, p. 286.} St. Paul & Duluth.-Owns from St. Paul, Minn., to Duluth Minn 155 miles; branches to Cloquet, Grantsburg and Sandstone, 28 miles; leases-Stillwater & St. Paul Railroad, 13 miles ; Minneapolis & Duluth Railroad, 13 miles; Taylor's Falls & Lake Superior, 20 miles; Duluth Short Line, Thompson to Duluth, 18 miles; other, 3 miles; total, 248 miles. Second track, 17 miles, July 1, 1892. Between North Paciflo Junction & Duluth, 24 miles, road ls owned jointly with the Nor. Pacific. HIST0RY.-The Lake Superior & Mississippi Railroad was sold in foreclosure May 1, 1877, and this company organized June 27. CAPITAL ST0CK.-From the earnings of the railroad the preferred stock has a prior right to 7 per cent yearly, then common to 6 per cent, any surplus goin~ to retirement of preferred. The preferred . stock is also received rn payment for lands at par, and is entitled to receive from land sales any part of its 7 per cent dividend yearly for which railroad earnings do not suffice. All surplus land sales not used for dividends on the preferred stock go to the retirement of that stock at or below par, the preferred stock being subject to ca-U at parwhen drawn by Jot, if not purchasable below par in the open market. In December~ 1891, $182,000 preferred was purchased and retired from land saies, and ln Sepember, 1892, $226,600 was drawn by lot and redeemed at par. Three shares of common stock have one vote,.. and each share of preferred has one vote. DIVIDENDS.-On common stock: In 1887, 3 and 15 in common stock ;. in 1888 and since, nil. Dividends on preferred since 1880: In 1881, 10 stock ; in 1882, 312 in cash; in 1883, 7; in 1884, 312 and 7 in preferred stock; from 1885 to 1888, 7; in 1889, 512; Jan., 1890, 212; Sept., 4;, in 1891, March, 212; Sept., 412; in 1892, March, 312; Sept., 3½!. LANDS.-'!l.'he company has a land grant, of which 1,104,144 acres re-mained unsold June 30, 1892, and 61,455 acres of the Taylor's Falls branch grant. In year 1891-92 sales from company's grant were 5,670 acres for $36,894, and gross cash receipts were $149,290 (ot which $95,645 from stumpage); net cash receipts, $128,756. EARNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 months), gros& $1,091,533, against $940,344 in 1891; net, $447,292, against $399,713. ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting at St. Paul second Thursday in October. Report for 1891-92 in V. 55, p. 677. 1889-90. 1890-91. 1891-92. Gross earnings .................... $1,410,527 $1,621,939 $1,934,510. Operating expenses and taxes ... 1,017,458 1,071,192 1,291,586 Net earnings ................. .. Total net income .....•...•.... $393,069 $415,566 $650,747 $575,893 $642,924 $678,987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis [VOL. LVI. , Forest VI CKS. LOUIS CAPE GIRARDEAU AND FORT SMITH RAILWAY & CONNECTIONS. JANUARY, 1893. l https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Ul9 RAILROAD STOCKS AND BONDS. C ~ 0 >- a: en z en ~ E-1 0 < r,-., t-; Cl. 0 z en p.. < < C/J ~ z ~ ~ i:53 F I 0 0 AND ARANSAS PASS RAILWAY AND CONNECTIONS. 130 INVESTORS' SUPPLEMENT. (VOL. LVI. Subscribers -will conCer a great Cavor by giving Immediate notice of any error discovered In the8e Tables. Bond.f-PrinetRAil,ROADS. INTEREST OR DIVIDENDS. Miles Date Size, or When Due. Amount Rate r,er When Where P{Viable, and by pal, of Par F or explanation of column headings, &c., see notes of Stoclu-Last Outstanding Road. Bonds Value. Cen . Payable horn. on first page of tables. Dividend. St • Paul d: Duluthr-(Concliided.)- - - ----· -·-- M.& 8. N. Y., Of., 32 Nassau St. 25 1886 $1,000 5 $500,000 Duluth Short L. lat M, ~ar.,cum.,s.f. not dr'n.c* 12 1870 fiOO &c. do do 248,500 7 J. & D. Stillwater & St. Paul ls mort.,~. (not guar) ...... 8 t. Paul Minn. d: Manitoba-See rea'; Northern100 6,250,000 6 per an. Q.-F. N. Y., Office, 35 Wall St. 8t.PamdNo.Paciflc--Stock($10,000,000)authoriz'd 184 M.&N. do do 1,000 438,000 7 Western RR. Minn. lat M. RR. covered b()i gen. M. 60¼ 6 g. Seerem. do do General mortg., guar., land gr. ($10,000, 00).c*&r 182 1883 1,000 7,985,000 Ban .Ant. If .A1·ansas Pass-Stock .................... 100 5,000,000 ··s·g. J ..&.. J. Jan.,1890,coup. lastpd. 1,000 lat Mo1tgage, gold, redeemable at 110 ......... c" i52 1,750,000 6 g. J. & J. Jan. ,1890, coup. last pd. 1,000 4,473,000 lat M., exten., 9io1d ($12,000 p. m.) red. at 110.c* 372 1886 5 g. A. & 0. Apr.,1890, 001!,fi.last pd. lat M. for $9,0 0,000 gold, $15,000 per mile .. c* 115 1888 1,000 1,725,000 None p d. 2d M., g., income for 5 years, $8,000 per mlle .... 639 1888 1,000 5,112,000 5 g. A. & 0. (1) . .... N. Y., Atlantic Tr. Co. Rolling stock lease warrants ...................... .... 8 andusliy d: Ool1imbus Short Line.-SEE COLUMBUS siIAw NEEi& HOCIUN G, 50 1,068,832 See text. Feb. 1. Moss N. Bk., Sand'ky, O. Sandusky Mansfield d: N ewark-Re-or~anized stock 116 lstM.,int.gu.underleasebyB.&O.an Cent.O... c* 116 1,000 J. & J. N. Y., Union Trust Co. 2,300,000 7 100 6,000,000 8an Francisco d: N01·thern Pacijic.-Stook .......... --·· ..5.g. J. .&.. J. N.Y.,46waii,&Fr'nk'frt lat Mort., gold ($4,500,000), a. f. red. at 110. *c&r 165 1889 1,000 4,166,000 Banta Fe Pres.& Phamix-1 atM., $25,000p.m.,g.c*&r .... 1892 (1) 5 g. M.& S. N. Y.,MercantileTr.Co. 1,000 100 1,614,200 8avannah .Americus& Montgomery-Stock .•........ .... ··1· J. ··-· Americus Preston & Lumpkin 1st mortgages ..... 250,000 & J. N.Y.,Nat.P'kB'k&Amer 1885-6 500 1,000 3,350,000 6 g. J. & J. Balt. Mere. Tr. & Amer. Consol. mort. $4,100,000,fold. $12,000 permile.c* 265 1889 1,000 420,000 6 g. J. & J. Balt.Merc. Tr. &Dep.Co. Alb.Flor.&Nor. lstM., go d,$12,000p.mdguar.c* 35 1890 do do Montgomery Terminal Co. lat mort., gol , guar.c .... 1892 1,000 208,000 6 g. M.& 8. N. Y. H. B. Plant. 1'annah Florida cl: Western-Stock •.•.••.••••.•.... 100 6,403,400 See text. Atlantic & Gulf consol. mortgage ............... c* 347 1867 500 &c. 1,780,000 J. & J. N.Y.,H.B.Plant,&Savan 7 M.&N. do do Bo. Ga. & Flor.. lstMs., endbyStateofGeorgia.c* 1,000 464,000 58 1869 7 M.&N. N.Y.,H.B.Plant &Savan 2d mortgage .................................... c 1,000 200,000 58 1869 7. 8av.Fla.& West.,consol.M. ($6,500,000),gold.c,*&r 545 1884 4,056,00(J 6 g. A. & 0. do do 1,000 Monticello extension bonds ........................ A. & 0. do 290,4011 do 1889 6 Brunswick & Western. lat M., gold, guar ........ c* i1i 1888 500.&c. 3,00u,000 g. J. & J. N.Y.,12W.23dSt.&Sav. 188?, :,ooo 3,000,00'J ..... None paid. Income bonds, non-cumulative .................. &,,t,annah d: Western-Columb. & West.1st M. ,gu.c* i57 1881 J. & J. Jul Y, '92 coup . last p ai.d. 1000 800 <JOO 6 is11 Feb., 1893 May 1, 1907 Feb. 1, 1923 iss5 Jan:· 1; "i916 July 1, 1926 Oct. 1, 1938 Oct. 1, 1913 ---- --·- Sept. 1, 1916 Dec. 1, 1900 is<>9 t ........ Feb. 1, 1893 Jan. 1, 1909 Jan:·1;·i919 Sept. 1, 1942 rno5··&·i9o6 July 1, 1919 July 1, 1920 Moh. 1, 1932 Apr. 1, 1892 July 1, 1897 May 1, 1899 May 1, 1899 Apr. 1, 1934. Apr. 1, 1899 Jan. 1, 1938 lrl'edeemable. Jan. 1 1911 1891-92., EARNINGS.-From July 1 to Dec. 31, 1892 (6 months), gross earnings $96,497 were $491,795, against $509,133 in 1891; net, $198,317, against 150,000 $223,109; interest, rentals, etc., $104,738, against $103,132; balance, (8) 423,001 surplus, $93,580, against $119,977 in 1891. 69,394 Year ended June 30, 1892, gross earnings $886,472 against $832,648 in 1890-91; net, $311,422, against $288,185; surplus over charges, inTotal payments............... $393,032 $624,197 $738,892 eluding $25,000 to sinking fuud each year, $81,008, against $56,511. Bal.from RR. operations .... . . sur.$22,534 de.l'.$48,304 det.$59,906 J.F. Burgin, President, San Francisco. (V. 53, p. 186; V. 55, p. 214.) Boots. from stumpage and lands. 192,848 249,546 75,207 Santa Fe Pre8cott & Phoenlx.-Projected and under construe· Balance ..•..........••....... sur.$215,382 sur.$201,242 sur.$15,301 tion from Ash Fork on the Atlantic & Pacific Railroad, via Prescott to Phoe1lix, Arizona, about 200 miles. Mortgage is for $5,000,000-(V. 53, p 157, 56'7; V. 54, p, 276; V. 55, p. 6'7'7.) Mercantile Trust Co., New York, trustee. A 30-year contract with the Atchison Topeka & Santa Fe provides for payment of an arbitrary 5 St. Paul 1'.llnneapoll8 & 1'.lanltoba.-See GREAT NORTHERN. per cent of the gross earnings of the entire Santa Fe system of railroads , St. Paul & Northern PacUlc.-LINB OF ROAD-Brainerd. to upon all business interchanged with 8. F. P. & P. Ry. to the trustee of St. Paul, 148 miles; Little Falls to Staples Mills, 34 miles; total, the first mortgage bonds, to be applied to the payment of interest 182 miles. Owns terminals in Minneapolis on 20 acres, and owns in all accruing. (V. 55, p. 590). aome 400 acres aboutst. Paul and Minneapolis. The land grant (181,671 acres unsold August 1, 1892,) is between Brainerd and Batik Rapids; proSavannah Americus & Montgomery.-( See Map.J-Owns oeeds of lands are first applied to purchase of Western Minneapolis from Lyons, Ga., west to Montgomery, A1a., 265 mtles, and A. F_. & N. bonds, then to general mortgage at 120 or under. Railroad from Cordele to Albany, Ga., 35 miles; total operated 300 LEASE-PROPERTY.-Leased for 999 years to the Northern Pacific, at a Iniles. An extension from Omaha to Montgomery, Ala., 80 miles, was net rental equal to 40 per cent of the gross receipts, but any surplus opened in April, 1892. See V. 54, p. 684. Under a traffic contract with over 6 :i;er cent on stock is divided equally between lessor and lessee. Central Railroad of Georgia, which operates the Savannah & Western, BoNDS.-The bonds are guaranteed by Northern Pacific. Interest on throu~h passenger and freight train.E are run via the Central, the 8. & W. and this line between Savannah, Ga., and Montgomery, Ala. coupon bonds is payable F. & A.; on registered bonds, Q.-F. STOCK.-The stock of $6,250,000 is all owned by Northern Pacific. HISTORY.-This was formerly the Americus Preston & Lumpkin. In Dividends from 1883 to Aug,i 1892, inclusive, 6 per cent per annum, and Nov-,mber, 1892, S. H. Hawkins and T. E. Hambleton were appointed tn 1891 by division of surp us 6 per cent extra. EARNINGS.-In year receivers, as the company was financially embarrassed. Some reorending .June 30, 1892, gross, $2,266,416, ag;it. $2,110,926 in 1890-91; ganization will be necessary. V. 55, p. 927, 1036. net, $1,070,936, against $1,024,058 in 1890-91 and $901,926 in 1889-90. BONDS.-The consolidated mortgage is for $4,100,000 (Mercantile SanA.ntonlo & A.ransas Pa8s.-(See MapJ-Ownsfrom Kerrville Trust Company of Baltimore, trustee) 1 and is a first lien except on 38 to Aransas Bay, Texas, 221 miles; Kenedy to Houston, 176 miles; miles, upon which there are outstandmg $250i000 old first mo1 tgage Yoakum to Waco, 165 miles; Skidmore to Alice, 43 miles; Shiner to bonds, to retire which a like amount of conso s is deposited in trust. Lockhart, 55 miles; branches, 22 Iniles; total, 682 miles. Car trusts and notes July, 1892, $541,455 (including interest), due HISTORY.-The receivers appointed July 14, 1890, were dischar~ed yearly 1892 to 1898, payable in monthly instalments. The consol. bonds are listed on N. Y. and Baltimore Stock Exchanges. See V. 54, tn June, 1892, and road restored to the company. The reorganization plan described below, now effective, contemplates control of the proi:- p. 120. The entire stock of the Montgomery Terminal Co. ($200,000), 1s owned, and its bonds, as well as those of the Albany Florida & erty by the Southern Pacific Company. Northern, at $12,000 per mile, are guaranteed, principal and inwrest, REORGANIZ.ATION.-The plan of Dec. 15, 1892 (V.55, p. 1036) ,provides, by endorsement on the bonds. without increasing the capital stock, for new lat mortgage bonds coverEARNINGS.-From July 1, 1892, to Oct. 31, 1892 (4 months), gross ing all the property, as follows: earnings were $199,269, against $184,452 in 1891; net, $74,962,against First mortgage 4 per cent fifty-year golo bonds of $1,000 $77,304. In year 1891-92 gross, $500,823; net, $189,760; interest on each, carrying interest from ,Jan. 1st, 1893, and ~uarbonds, $136,800. In 1890·91 earnings on 175 miles, $491,499; net, anteed principal and interest by the Southern Pacitto $209,203. (V. 52, p. 322, 535, 796; V. 53, p. 257, 754; V. 54, p. 120, Company ..........•...•...........•...•..•... $21,600,000 276, 684, 1048 ; 55, p. 927.) R~<'rvoo for extemions limited to 100 miles at $27,000 per mile constructed and equipped ....••................ $2,700,000 Savannah Florida & Western.-Owns from Savannah, Ga. to Reserved for ,improvements and equipment................. 1,800,000 Chattahoochee, Fla. 1 258 miles; 3 branches to Bainbridge, &c., 15 miles. Present issue for the purposes of this reorganization........ 17,100,000 Dupont to Gamesville, 118 miles; Thomasville to Albany, 58 nales · Assenting security holders will receive (1) For olo first mortgage 6 per Thomasville, Ga., to Monticello, Fla., 24 miles; Waycross to .Jackson.ville, -cent bonds, with July, 1890 and subsequent coupons attached, new 75 miles; Fort White, to Lake City, Fla., 20 miles; total, 569 miles. :fl.rst mortgage 4 per cent gold bonds, $1,040. (2) For each old first mortHISTORY.-A consolidation in 1884. In .January, 1888, purchased gage 5 ler cent bond, October, 1890, and all subsequent coupons control of the Brunswick & West.t1rn, Brunswick to Albany, 171 Iniles, attache , new first mortgage 4 per cent bonds, $890. (3) For each old and guaranteed its first mortgage bonds. In 1890 a controlling in$1,000 second mortgage bonds, all coupons attached, new first mort- terest in the Alabama Midland was acquired by the Plant Investment gage 4 per cent bonds $250. · (4) For each $100 of old stock $15 in the Co., which controls this system. See Alabama Midland; also, V. 51, new lat 4s. The new mortgage-mortgage trµstee Central Trust Co.- p. 50. The Metropolitan Trust Co., of New York, is trustee of the mort• was fl.led in January, 1893. See V. 56, p. 127. gages. In January, 1893, a controlling interest in the stock of the EAR.llITNGS.-Jan. 1 to June 30, 1892, gross $639,196, against $722,- Silver Springs Ocala & Gulf was purchased. See tha.t company and -276 in 1891. Gross in Dec., 1892, fl 73.075, against $113,017 in 1891. v. 56, p. 43. From January 1 to August. 31, 1891 (8 months), gross earnDIVIDENDS.-In 1881, 9¼ per cent; in 1882, 6¼; in 1883, 7; in 1884 ings were $1.066,872, against $1,001,693 in 1890; net, $112, 4; in 1887, 134; in 1889, 4; in 1891, 2; in 1892, April, 5. 90~ 1 against $140,532. A report of the receivers for the year EARNINGS.-From January 1 to June 30, 1892 (6 months), gross -enrung on July 14, 1891, was in V. 53, p. 608, showing gross earnings earnings were $1,633,896; net, $584,048. $1,740,945; net, $319,065. (V. 52, p. 204, 464, 499, 574,899; V. 53, In 1891 gross earnings, $3,288,862; net, $1,111,153 ; in 1890 p. 96,608,641,846,965, 1011; v. 55, p. 422,895, 1036; v. 56, p.128.) gross, $3,038,473; net, $645,936; surplus after charges, $104,802. Sandusky & OoluD1bU8 Short Llne.-See COLUMBUS SHAW· Total surplus January 1, 1891, $140,217; deduct dividend (2 per cent), MEE & HOCKING. $131,946; balance, $8,271. (V. 54, p. 441; V. 56, p. 43.) Sandusky 1'.lan8fleld & Ne~ark.-Owns from Sandusky, O., to Savannah & ,vestern.-Owns from Birmingham, Ala., to AmerNewark, 0., 116 miles. Leased to Central Ohio, guaranteed by Balti· icus, Ga., 221 miles; Columbus to Greenville (narrow gauo-e), 49 -m ore & Ohio, Feb. 23, 1880, till Dec. 1, 1926, with o:ption to the Balt. & miles; Opelika to Roanoke, 37 miles; Eufaula to Ozark, 60 m.: it'ieldrim Ohio Co. to renew for terms of 20 years each. It 18 operated as Lake to Lyons, 58 m.; Griffin to Chattanooga, 197 m.; total, 622 miles. Erie division of the Baltimore & Ohio system. Rental is $201,850. HISTORY.-This was a consolidation in Au!?llst, 1888, of the Columbus The Baltimore & Ohio's guarantee of interest is endorsed on the bonds. DIVIDENDS.-From 1881 to 1884, 2 per cent; from 1885 to 1888, 3 per & Western and other roads. It belongs to the Cent. of Georgia system. The Central went into receiver's hands in 1892, and the interest on -cent; from 1889 to 189~, inclusive, 3¼ p. c. yearly; in 1893, February (an».ual), 3 p. c. FLOATING DEBT July 1, 1891, $148,186. EARNINGS.- Savan. & Western bonds due Sept. 1 was not paid. Interest on Col. & Rome, Col. & Western and Rome & Carrollton bonds was defaulted ID 1891-92 gross, $1,032,207; net, $199,128. In 1890-91, ~oss, $1,Jan. 1, 1893. See Central of Ga. for proposed plan of reorganization 106,818; net, 255,359; profit to lessee, $33,711. and consolidation. San Francl9co & North Pacltlc.-Point Tiburon, Cal., to Ukiah, STOCK.-$3,000,700 (par $100), all owned by the Central of Georgia. 'Cal., 106 Iniles, and branches, 59 miles; total 165 miles. Consolidation of various companies March 19, 1889. Connects with San Francisco BoNDs.-Consolidated mortgage (trustee, Central Trust Co., N. Y.), 18 (6 miles) by company's steamer. BONDS issued at $25,000 per mile; tor nominally $18,000,000, of which $1,000,000 held in trust for prior trustee, Mercantile Trust Company, New York; sinking fund, $25,000 liens; abstract of mortgage in V. 49, p. 240; principal and in~t.18 per annum, and bonds drawn (or purchased) at 110 and int. [Mortgage guaranteed bv Central RR. & Banking Co. of Ga. See default above. abstract V. 49, p. 241.] Bonds cane-eled t-0 July 1, 1892, $76,000. Central of Ga~ on July 1, 1892, owned $1,628,000 consoIB. 1889-90. 1890-91. .Rentals paid...................... $82,003 $93,548 Interest on bonds................. 150,000 150,000 Dividends ........................ (2111) 134,117 (6½)348,749 Jrllscellaneous..................... 26,912 31,900 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis v. ~ A z ClI 0 ~ I A I z -~ I \.)/ , r:n ~ 0 0 ~ r:n ~ 0 ~ ~ .- ,--.j ~ ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AMERICUS MONTGOMERY RAILWAY & CONNECTIONS "SAM ROUTE" I [VOL. LVI. subscribers "'1ll confer a great Cavor by giving iJllDlediate notice ot any err,,r uu,covered in these Tables. RAILROADS. I ,.ti J ,, JJ .. i:,•.r OR DIVIDENDS. Bonds-Prmol. Miles Date Size,or Amount 1 - - - - - - - - - - - - - - - ~ - pal,WhenDue F@r explanation of column headings, &c., see notes of of Par Outst:rndincr l::.ate .i:,er .Vr.en Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. r:. ' .ent. .Payable Whom. Dividend. Sav. cf; West.-(Oon.)-Colum. & Rome lstM., gu.o• 1st consol. mort. ($18,000 per mile), f;°ld, guar.c* Rome & Carrollton 1st mortgage, io d ............ Chatt. Rome & Col. 1st, gu., $16,00 p. m., jold. o* Schiiytkill ct Lehi¼lv-lst m., guar. p. & i. by . & R. Seaboard ctRoano e-St'k ($244,200 is pf. gu. 7 p.c.) Debentures, registered ........................... r 1st mort age for $2,500,000 .................... c: Seaboar Air Line Equ't Tr. ser. A & B (12 each). c· Seattle Lake S. ct East.-lst M., g., $25,000 p. m.c* 8hamo1ein Sunbiwy <I Lewisburg-1st mort .... o*&r 3 Big,~ir,t~t ~ ·Poiisviite::..siocir.: ·iu"ai:: i;i Nor: g~ lat mortgage, gold, on road and lands . .......... c Shore Line ( vonn.)-St'k, 712 p.c.rent.N.Y.N.H.&H. ~;~a!1i:·i eiiij::iat: i: gr. ($i5;0()0j-m:)g:c* 0 sit::r 8ioux Gitu ct Northern-1st mortJa§e' &ol ....... o* Sioux Oity O'N. & West.-lst M. ( 1 ,O Op. m.) g.o* South Atlantic & Ohio-1st mort~age ................ South Bound-1st mort., $15,00 per mile, gold .. o* S<n.ith Oa1·olina-lst mortgage, sterling loan ....... 1st mortgage dollar loan, extended ............... 1st oonsoL mortgage, gold ......................... 2d consoL mortgaie ........................... - . o* Income mortga"'e onds (not cumulative) ...... o" South Florida-1st mort. ($12,000 per mile), gold. o* So.ctNo.A.tabama-lstM.,s.f.notdr'n;guar.byL.&N. 2dmort. gold, s. f. $20,000 (owned by L. & N.) ... Consol. mortgage (for $10,000,000), gold, guar.o* 8. Pacific voast-lst M., g., guar. (s. f. begins 1912)0 50 "ii 13 44 81 81 31 31 29 28 49 49 74 96 130 70 136 247 242 247 247 247 189 189 189 189 104 ]884 $1,000 1,000 1~89 .J.88;°; 100 &<:. 1887 1,000 1872 $20(),000 7,7;,5,000 150,000 2,090,000 600,000 1,302,900 HJO 1886 100 &o. 690,000 2,000,000 1 886 1,000 1890·] 1,000 212,500 5,675,000 18~G 1,000 1,000 1,000,000 1882 1,000,000 1890 1,000 869,450 50 2,000,000 1871 500 &c. 1,000,000 100 200,000 1880 1,000&c 1,000 1,120,000 1888 1,000 1,920,000 1890 2,340,000 1891 1,000 1,000 1,850,000 1887 1891 1,000 2,033,000 83,092 1868 Various 1868 500 178,000 1881 1,000 4,883,000 1,000 1,030,000 1881 1,000 2,538,000 1881 1,000 2,256,000 1885 1873 £200 £909,000 1880 $1,000 $2,000,000 1886 1,000 3,543,000 1887 1,000 5,500,000 I 6 .J. & .J. July,'92, coup. last paid. .Jan., 1914 5 g. l\I. & s. Moh., '92, coup. last pd. Mch. 1, 1929 6 g . :r. & J. July,'92, coup. last paid. .Jan. 1, 1916 5 g. 1\1. & s. Mch., '92, coup. last pd. Sept. 1, 1937 412 l\f. & N. Phila., Phil. & Read.RR. Nov. 1, 1902 See text. M.&N. Balt., Farm.&Plant.Bk. Nov. 1, 1892 F. & A. Portsmouth, Va. 6 Aft. July,1916 5 .J. & J. N.Y.,Baltimore&Phila. July 1, 1926 J. & D. Balt.,Merc.Tr.& Dep.Co $25,000 .Junel 5 6 g. F. & A. N. Y., No. Pacific RR. Aug. 1, 1931 M.&N. Phila., Phil. &Read.RR. May 1, 1912 5 6 g. J. & J. do do .July 1, 1925 6 per an. F. & A. Phila., Penn. RR. Co. Feb. 1, 1893 7 g. .J. & J. do do .July 1, 1901 See text. .J. & .J. N. H., Nat. N. H. Bank. .Jan., 1893 do do 412 M.& S. March, 1910 New York. See text. J. & .J. July 1, 1918 5 g. J. & .J. N.Y., Manhattan Tr. Co. .Jan. 1, 1920 5 g. A. & 0. New York. Oot. 1, 1921 In default. 6 J. & J. .July 1, 1917 See text. A. & 0. Baltimore & Savannah. Apr. 1, 1941 5 g. .J. & .J. July,'91, ooup. lastpaid. On demand. 5 g. J. & .J. July ,'91, coup. last paid. On demand. ~ g. A. & 0. Coupon AKr.,1891taid. Oot. 1, 1920 J. & .J. Last pai July, 1 88. .Jan. 1, 1931 Yearly. 6 .Jan. 1, 1931 6 g. .J. & J. .Jan. 1,· 1915 6 g. M.&N. London, Baring Bros. May 1, 1903 6 g. A.. & o. N. Y. Of., 120Broadw'y Apr. 1, 1910 5 g. F. & A. N. Y., Office, 120 B'way. Aug. 1, 1936 4 g. .J. & J. N. Y .. s. Pao.• 23 Br'd St. .July 1, 1937 In May, 1891, the roadbed and all the assets of the Chattanooga Northern, with stock of $3,600,000 (par $100) and bonds of $2,340,000. Rome & Columbus, Chattanooga to Car::ollton, 138 miles, were pur- I The mortgage (trustee Manhattan Trust Co. of New York) covers the <1hased, and its $2,240,000 firgt mortgage bonds ~uaranteed by endorse- road, its equi~ment and terminals and $2,000,000 stock of the Paoifl.o ment thereon; $150,000 of these bonds are he1d to redeem the Rome Short Line Bridge Company, organized to construct a bridge at Sioux & Car. bonds at maturity. The stock of the C. R. & C. is mostly owned City. (V. 52, p. 571; V. 53, p. 157, 326, 436, 641.) by C~ntral of Georgia. The Cent. of Ga. reorganization plan does not !"louth Atlantic & •hlo.-Owns from Bristol, Tenn., to Bigstone provide for the Chatt. Rome & Col. bonds. Gap, Va., 70 miles . In 1892 John C. Haskell and D. H. Conklin were EARNINGS.-From March 4, 1892, to Sept. 30, 1892, the receiver of appointed receivers. Stock is$1,110,000; par, $100. Car trusts about t he C~ntral of Ga. reported gross earnings as $651,454; de tl.cit, $28,- $118,000. Loans and bills payable June 30, 1891, $61,888. In 912. See Central of Georgia. In 1890-91 gross earnings were $1,161,· 1890-91 g ross earnings, $144,375; net, $20,900; taxes, $8,254; in187; net, $90,828. In 18 9-90 gro~s, $963,929; net, $208,086, again t terest , $107,681. $87,288 in 1888-89. Interest charge for 11392-93 will be on Sav. & W. sou.th Bound.-Completed in Sept., 1891, from Savannah, Ga., to proper $447,750, and on Chat. Rom\3 & Col. $11~,500; total, $561,250. Columbia, s. C., 136 miles. LEASE.-In July, 1892, leased to the Flocida, Central & P eninsula Railroad Co. for 99 years from October 1, 1893, Scioto Valley & Ne,v England.-SEE NORFOLK & WESTERN. by which time the Fla. Cent. & Pen. is to complete a line of 110 miles Seaboard & Roanoke.-Owns Portsmouth, Va., to Weldon and in len gth connecting the systems. Rental equivalent to 5 per cent per branch, N. c., 81 miles; leases Roanoke & T. R. Railroad, 29 miles. a nnum on $15,000 per mile, payable semi-ann. V. 55, p. 177, 215. Also has a controlling interest in the Raleigh & Gaston Railroad, 109 STOCK is $2,033,000. BONDS will have interest reduced to 5 per miles, and thus in the Ralei~h & Augusta. Air Line, 107 miles, and Caro- cent, and, whenever the South Bound so demands, will be endorsed lina Central, 269 miles; a1So controls Pittsboro Railroad, 11 miles; by the Florida Cent. & Pen. with the contract a s to rental. Mortgage Carthage Railroad, 11 miles; and the Georgia Carolina & Northern, trustee is Mercantile Trust & Deposit Co. of Baltimore. EARNlNGS..266 miles (completed in April, 1892), a:ffordmg a throu~h line to At- From Jan. 1 ~o.Deo. 31, 1892 (12 mont~s), ~oss, $203,763. President, lanta; total of all, 884 miles. This is the " Seaboard Air Line" system. Col. C. H. Pnm1zy, Augusta. (V. 53, p. lo7; v. 55, p. 145,177,215, 503.) STOCK.-Of the stock, $1,058,700 is common, $200,000 is 1st preferred South Carollna.-Owns from Charleston to Augusta, S. C., 137 7 per cent guaranteed and $44,200 is 2d preferred guaranteed. miles; branches to Columbia, 68 miles, and to Camden, 38 miles; extenDIVIDENDS.-On common, formerly 10 per cent, were from Nev., sion, 4 miles; total main line and branches, 247 miles. The Carolina 1890, to May, 1892, both inclusive, 7 p. ct. per an.; in Nov., 1892, 3 p. o. Cumberland Gap & Chicago Railroad, from Aiken to Edgefield, 24: miles 1 is leased by the receiver of this road, and operated in connection BONDS.-The debentures are to be included in any 2d mortgage issued. with 1t, making 271 miles operated. The Columbia. Newberry & Laurens .After Aug. 1, 1916, they are payable at will as a whole, or in 10 per cent is no longer operated in connection with this property. .instalments. With Raleigh & Gaston guarantees the bonds of the GeorFORECLOSURE AND REORGANIZATION.-Sold in foreclosure .July 28, gia Carolina & Northern (which see).· Since June 30, 1891, first mort1881, and on January 1, 1889, the company defaulted a"'ain, D. H . .gage bonds for $1,200,000 have been issued. Chamberlain being made receiver in October, 1889. At 'charleston, EARNINGS.-In year ending June 30, 1892, gross on road proper, 114 S. C., in November, 1892, the U. S. Circuit Court ordered a foreclosure miles, $705,469; net, $233,763; other income, $84,890; total net income, sale of the road under the first mortgage 1868, to take place April ~18,653 ; interest, rentals, taxes, &c., $180,934 ; dividends (7 per 11, 1893. Holders of 1st and 2d oonsols,of except certain of the firsts. oent)t..$46,516; surplus for year, $60,182; in 1890-91, gross, $771,572. sought the decree. Holders of the dissentin~ bonds, however [a anbJ. M. ~ obinson, President, Baltimore, Md. (V. 53, p. 324.} stantial numberl, claim that the trustees in declaring the first oonsols Seattle Lake SIi.or e & Ea8ter n.-Owns from Seattle, Wash., to due exceeded their authority. They have appealed the case, which .Sumas, 125 miles, and branches in Washington, 121 miles; total, 246 may not be reached in higher court till the fall of 1893 . miles. Completed in 1891. The Northern Paoi:fio guarantees by endorseWhen sold road may be bought in under one of two plans. Of these men t b oth p r mcipal and interest ot the bonds, and owned July 1, 1892, the Central Trust plan (V. 53, p. 969), changes the second oonsols into .$3,162,650 of the $ 4,150,000 stock. See v. 55, p. 682. preferred stock and creates $6,000,000 of 5 per cent mortgage bonds Shamokin Sun b ury & Le"'1sb urg.-Line from Shamokin to to take up first consols. The Fairchild plan (CHRONICLE Jan. 16, 1892, West Milton, P a ., with iron bridge over Susquehanna, 31 miles. Leased p. vi. of adv.) preserves the lien of the second oonsols. V. 55, p. 895. to Philadelphia & Reading till .July 20, 2883, and used for coal traffic BONDS AND STOCK.-On .July 1, 1891, the Receiver paid to dare inn orthward . Stock, $2,000,000; par, $50. (V. 51, p. 21.) terest on all bonds having a lien prior to that of first consols and in Shamokin Valley & Pottsvllle.-Line of road, Sunbury, Pa., to March, 1892, he paid the coupons duo April 1, 1891, on the first oonsols. Mt. Carmel, Pa.land branch, 30 miles. Leased February 27, 1863, for The stock is $4,204,160; par, $100; oar trusts, $74,434, due Deo., 18 93. ~99 y ears to tne Northern Central Railway Co., with a guarantee of EARNINGS.-Nov. 1, 1892, to Nov. 30, 1892 (1 month), gross $ 122,672, taxes, interest on the bonds and 6 per cent on the $869,450 stock (par against $138,405, in 1890-91; net, $31,336, against $46,673. $50), of which $619,400 is owned by the Northern Central. PennsylA.~'1JAL REPORT.-Report for yea.rending Oot. 31, 1890-91, was in vania RR. owns $605,000 7 per cents, and $225,000 additional were V.54,p.32,asfollows: held January 1, 1892, in the fund to cover the depreciation in value of 189Ul2. 1890·91. the a. V. &P.'s coal lands. Gross earns. 1891, $539,023; net, $323,188. Mileage.. . . . .. . . .. . . . . . . .. . • . . . . . 1889-90. 247 310 Shore Line (Conn).-Owns New Haven, Conn., to New London, Gross earnings .................. $1,546,087 $1,368:2« $1,771,159 Conn., 49 miles. Leased to New York & New Haven RR. Co. in perpet- Operating expenses............. 1,015,326 966,352 1,178,885 nity November 1, 1870, at $100,000 net per annum. Dividends usually 314 or 312 per cent in January and 4 per cent in July. Stock exchangeNet earnings................ $530,761 $592,274 able during January and February, 1893, for stock of lessee, 4 shares Taxes and rentals............... $115,426 Shore line for 3 shares lessee. By exchanging their stock the holders can subscribe to certain convertible debentures of the New Haven -(V. 53, p. 969; V. 54, p. 32, 120, 329,968, 1011; V. 55, p. 60, 100, 895.) .Company-which see. South & North Alabama.-( See Map of Louisville fl Nash'1JiUe.)Silver Springs Ocala & GulC.-Projeoted from Ocala, Fla.., to Owns from Decatur, Ala., to Montgomery, Ala., and branch, 188 miles Point Pinellos on Tampa Bay, a.bout 200 miles, and completed from Controlled by the Louisville & Nashville RR. Co., which owns most of Ocala to Inverness, with branch from Gulf .Junction (near Dunnellon) the stock and guarantees the first and oonsol. mortgage bonds. In to Homosassa, 74 miles; trackage, 4 miles; sidings, 2 miles; total year ending.June 30, 1890, gross earnings were $2,202,151; net, $637,• operated, 80 miles. In .January, 1893, a controlling interest in stock 247; deficit under interest, &0., $60,279, against $225,536 in 1888-89. was acquired by Savannah Florida & Western J?a.rties, and it wa.s re- -(V. 50, p. 314; v. 53, p. 370.) -;ported that bondholders had assented to a reduction of interest on their Pacific Coast (Narrow--aauge).-Owns from Alameda. bonds from 6 to 4 per cent, this to be guaranteed by endorsement. toSo11.th Santa Cruz, 77 miles; branches, 27 mlles; total, 104 miles. The road is .Stock, $1,500,000, par $100. There is a land grant of 13,840 a.ores per leased for 55 years from .July 1, 1887, to the Southern Paoi:fio Company. mile, of which the mortgage covers 4,000 acres per mile. which guarantees the bonds and owns all but $7,000 of the stock, Sioux City & Northern.-(See Map)-Owns road, completed in Trustee of mortgage is Farmers' Loan & Trust Company. The stock is February, 1890, from Sioux City northerly to Garretson, So. Dak., 96 miles. $6,000,000; par, $100. In 1891 gross, $1,107,773; net, $393,807, At Garretson connection is made with the Great Northern, with which against $294,574 in 1890; surplus over charges, eto., $124,817. there is a traffic contract for thirty years. The road forms part of tha Central (N. Y).-Owns from North Fair Haven, N. Y., Great Northern's through route from Sioux City to Duluth, a distance of toSouthern Pennsylvania State Line, 114 miles, and branch 2 miles. The Lehigh 435 miles. The mortgage (trustee, Manhattan Trust Company) is Valley leased this road from .January 1, 1887, for 975 years, without limited by supplemental deed to $1,920,000, the amount now out- any guaranty of interest. There are $90,000 of 7 per cent prior bonds standing. Stock authorized, $10,000,000; outstanding, $1,440,000. due in 1899. Six coupons from August 1, 1886, inclusive, were funded From January 1 to D , e. 31, 1892 (12 months), gross earnings were into income bonds. 'T'hA ovArilue coupons, including those ftmdea, $492,692, against $447,326 in 1891. In 1891 gross, $447,326; net, amotmted on Feb. 2, 1892, to $1,235,095, and in Aug. 1 1892, a foreclos$193,144. In 1890 gross, $310,046; net, $133,648. ure suit was begun under the consolidated mortgage, the Lehigh Valley Sioux City O'Neill & Western.-Owns from Covington, opposite RR. in whose interest it is said two-thirds the bonds are hel..t, being Sioux City, to O'Neill, Nebraska, 130 miles. The Pacitio Short Line made one of the defendants. Stock, $1,774,950; par, $100. In 1890-91 ~eluding in it the Nebras ka & Western) was foreclo ed Oct. 23, 1891, gross ~~rnings w er? $521,919; ne~, $71,546; charges,_~199,312; deficit, and this company organized by parties interested in the Sioux City & $127,,U6. Thoma::; C. Platt, Pres1dent.-(V. 51, p. 710, v. 55, p. 257.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis w.SIOUX CITY & NORTHERN _____ ,,v _ _ RAILROAD. (GREAT NORTHERN SYSTEM.) mVESTORS' J3,l SUPPLEMENT. [VOL. LVI Subscribers -will con.fer a great favor by giving Immediate notice of any error discovered In these Tables. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. 1::;:a~~~':,- I Miles Date Size, or I ] INTEREST OR DIVIDENDS of of Par lou1:-~~g Rate per When Where Payable, and byl Stocks-Last Road. Bonds Value. I Cent. . 1Payable Whom. Dividend. i on.I Fe._ 1, 1922 Nov. 1, 1897 8rntthernC'ent.-Consol.M.for$3,400,000 (conv.).c 114 1882 ,$200&c. $3,300,000 ,--5--!F. & A. Aug., 1889, coupon Funded coupons consol. mortgage................ .... 18871 .... 475,740 4 M. & N. May, 1890, coupon on. Southern Pacific OOMP.ANY-Stock($150,000,000) 5,931 .... 100 118,858,170 .•.. I ..... .......... Steamship 1st mortgage bonds.................... . . . . 1891 .... 1,900,000 6 J. & J. N. Y., 23 Broad St. &:Yuth.Pac.of .Arizona-lstM,ser. A&B,g.,guar.c&r 388 '79-'80! 1,000 10,000,000 6 g. 'J, & J. N. Y.,8.Pac.,23Br'dSt. Southern Pacific (Oal.J-Stock. .•.. .•. ....... ....... . .. . 100 65,135,300 .. .. I . . .. ....... ... 1st mortgagetseries A;gold .... 1· land grant... c*} ( 1875 500 &c. 6 g. 1A. & 0. N. Y., S. Pac., 23 Br'd St. Series B, goln.... .. . . . . . . . . . . . . sink'g fund .. c* 1875 500 &o. 31 361 500 6 g. ,A. & 0. do do Series C & D, gold.............. not subject .. c* 1 ' 042 1876 500 &c. ' ' 6 g. ·A. & 0. do do Series E & F, gold............. to call..... c* 1882 500 &c. 6 g. IA, & 0. do do Bo. Pac. Branch 1st M , sink. fund in 1897........ 93 1887 .... 3,578,000 6 g. A. & O. do do Bo. Pac. general mort. ($38,000,000), gold ... c*&r 1,430 1888 1,000 11,375,000 5 g. !A, & O. do do Btock.lon & Copperopolis lstM., g. (guar. by C.P.) 45 1875 500 &c. 500,000 5 g. J. & J. do do 8outhern Pacific of New Merico-Stock.............. . . . . 100 6,888,800 .. .. I . . . . . ........ . 1st mortgage, gold .............................. c&r 167 1,000 4,180,000 6 g. J. & J. New York, 23 Broad St. Southwest. (Fla.J-lstM:,$170,000 ($5,000p.m,)g.o 34 1892 1,000 170,000 6 g. IJ, & J. N. Y., Manhattan Tr. Southwestern (Ga.J-Stock, 7 p. c., guar. Uent. Ga.. 333 .... 100 5,191,100 7 per an. 1J. & D. Savannah and Macon. Southwest Pennsylvania-Stock...................... 89 50 1,499,900 10 per an M. & S. Phila.~ 233 S. Fourth St. 1st M., sink. fund $5,000 yearly, not drawn ..... r 89 iB77 1,000 900,000 7 IF, & A. no do Spartanbu1·g Union & Columbia-1st mortgage.... 68 1888 . .. . 1,000,000 5 J. & J. ....... ... 1 00 Bpokane Falls & Northern-Stock.................... 2,500,000 . . . . I .... ......... . 1st mortgag~l $2?,000 per mile, gold ............ c.. isi iBS9 1,000 2,620,000 6 g. J. & J. N. Y., Chase Nat. Bank. Bpuyten Duym d!P tMor.-Stock,8 p.c.gu. N.Y.Cent. 6 .... 100 989,000 8 per an. 'J. & J. N. Y .• Gr'd Cent.Station Slate Line cf Sullivan-Stock.. . . . . . . . . . . . • .. .. • .. . • . . . . . . . . •. 50 990,000 .... J . . . . . . . . . . . . . . 1st mortgage ..................................... c* 25 1879 100 &c. 300,000 6 J. & J. N. Y., Union Trust Co. Staten Istand-lstmortgage......................... 13 1873 1,000 3 oo,,ooo 7 ,A. ·&···O. N. Y., f6·o··t·Whi····t·e·hallSt. Staten Island Rapid Transit-Stock.. . . . • • • .. • .. . . . . . . . . . . • . 100 .... 5 00 000 lstmort.gold,$or£,Rinkingtimdnotdrawn . .. c* All. 1883 1,000 1,000,000 6 g. 1A. & O. N. Y.,footWhitehallSt. t l { issi. .....•.. Jan. 1, 1911 Mch., 1909-10 . .....•• Apr. 1, 1905 Oct. 1, 1965 Oct. 1, 1906 Apr. 1, 1912 Apr. 1, 1937 Oot. 1, 1938 Jan. 1, 1905 Jan:·1,""i911 July 11. 1922 Doo. 3u, 1892 Sept. 30, 1892 Feb. 1, 1917 Jan. 10, 1932 Juiy ·1,""i939 Jan., 1893 . ...... . Jan. 1, 1899 Apr. 1, 1893 . ••...•. Jan. 1, 1913 I Southern Pacific COllIP A.NY.-( See MapJ.-ORGANIZATIO~.In 1891 gross earnin~s were $2,028,689 ; net, $570,414; deficit nuder This corporation was organized Aug. 14,'84, under the laws of Kentucky charges, $118,294, agamst $25,576 in l.890; ;net profit due the com- It has acquired a trans-Continental system of railroads, with steamship lines from New Orleans to New York, etc. On Jan. 1, 1892, it bad proprietary lines in its Atlantic system aggregating 1,750 miles; in its Pacific system, 2,581 miles; total proprietary lines, 4,332 miles; leased lines (other than proprietary lines) in Pacific system, 2,129 miles; total railroad lines, 6,461 miles. PROPRIETARY LINES.-These, with a total mortgage indebtedness Jan. 1, 1892, of $119,690,716, are all practically owned-only $2,334,477 out of their total stock of $164,717,227 not being held on Jan. 1, 1892, by the Southern Pacific Co. Five of the proprietary companies as below deaigI1ated are operated for 99 years from April 1, 1885, under the so-called omnibus lease, under which the Southern Pacific Company agrees to maintain the roads, to ;J?aY all fl.x.ed and other charges, including interest on bonds and floating debt, and to divide the total net profits from operating, after making these payments, among the several parties to the lease, the Southern Pacific Company to receive 10 per cent of such profits, and each of the other five companies the percentage indicated below. Proprietary lines operated under omnibus lease: Southern Pacific of Call.tornia, receiving 44 per cent of net profits; Southern Pacific of Arizona, 10 per cent; Southern Paci.tic of New Mexico, 6 per cent; Morgan's Louisiana &Texas, 23 per cent; Louisiana & Western, 7 per cent. Proprietary lines not operated under omnibus lease : South Pacific Coast, Northern Railway, Northern California, Texas & New Orleans, Galveston Harris. & San AntonJo, Gulf Western Texas & Pacific, N. Y. Texas & Mexican. For further information respecting these companies, see separate statement tor each. LEASED LINES.-The leased lines other than the proprietary lines are: The Central Pacific, tho Oregon & CalifornJa and the California Paci.fie railroads. The terms on which these roads are operated are stated under the head of each company respectively. CAPITAL STOCK.-Stock authorized, $150,000,000. See V. 4.8, p. 428. PR«JE OF STOCK.-In 1886, 30 1411>4112; in 1887, 29:\i:@36¾,; in 1888, 19@~712; in 1889, 2112'@3718; in 1890, 221211>3714; in 1891, 23'@4418; in 1892, 3358'@4114: in 1893 to Jan. 20 inclusive, 331Ss@35¼. GUARANTIES.-In Decamber, 1892, company agreed to guarantee San Antonio & Aransas Pass new :firs~ 4s (authorized issue $2J ,600,000), provided San Antonio bondholders accept terms of reorganization. Other guaranteed h1sues are Houston & Texas Central bonds, Austin & N. w. 5s, Oregon & Cal. 5s, N. Y. Texas & Me dean 4s, eertain of the Central Pacific's bonds, etc.-see those companies. E.ARNINGS.-From January 1 to Nov. 30, 1892 (11 months), gross earn· tngs on the whole system were $44,886,252, against $46,315,535 in 1891 ; net, $16,395,775, against $17 ,968,54.2. ANNUAL REPORT.-Fiscal year ends Dec. 31. Annual meeting is held at San Francisco on tlrst Wedn-,sda.y following first Monday in April. Report for 1891 was given at length in V. 54, p. 783,802,884, showing for the whole system, including steamsWp lines, as below. 1889. 1890. 1891. Average mileage operated..... 5,990 6,0i'>3 6,376 Gross earnings................. $46,467,963 $ 118,352,504 $50,449,816 Operatin~ expenses........... 30,406,427 31,155,103 31,163,612 Earnings over operating exp .. $16,061,536 Trackage and rentals.......... 521,952 $17,197,4.01 509,606 $19,286,204 564,193 Betterments and additions.... 436,508 Interest on bonded debt....... 10,472,892 Rentals, &c...... . . . . . . . . . . . . . . 3,109,381 $1,234,~98 265,625 10,259,819 3,569,551 $19,850,397 $1,261,984 259,570 10,629,900 4,334,983 Total paymrnts ............ $15,237,291 $15,329,293 $16,486,437 Total net income .......... $16,583,488 Taxes........................... $1,218,510 ----$17,707,007 Surplus •.................... $1.346,197 $2,377,713 $3,363,960 Of the surplus here shown for 1891 there was due proprietary companies for earnings remaining after payment or operatmg expenses, taxes and cbare-es, the following amounts: To propriet1Lry COlJll)anies under omnibus lease, $2,177,378; to other proprietary companies, $1,218,781; total. $3,396,135, which sum inures almost entirely to the Southern Paci.fie Company as the principal owner of the stock or said proprietary companies. This is exclusive of $456,947 88 accruing· to the Southern .Pacitto Company from the operation of leased properties, and $180,290 Income from its other mvestments, which, if added to the $3,396,159, will make a total of $4,033,;;97, against $2,641,303 in 1890.-(V. 53, p. 59, 290,880; V. 54., p. 526,598,783, 801, 802, 884; v. 55, p. 23.) Southern Pacific of A.rlzona.-This is the connecting line o1 the Southern Pacific of California, extending from Yuma to New Mexico boundary, 388 miles. The stock is $UJ,995,000, all but $2,400 being held by Southern Pacific Co. The bonds consist of series A, $6,000,· 000, due 1909, and Series B, $4,000,000, due 1910. Operated under lease to Southern Pacific uo., the lessee paying all charges and also 12 per oont of the net protlts under the omnibus lease. From Jan. 1 to Oct. 31 (10 month&), gross earnings In 1892 were *1 639,411, against $1,f;Sl,415 ; net, $470,314, against $530,869. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis pany under the lease, $241,930. Southern Pacific (of Callfornla).-(See Map.)-A co:nsollda tion of May, 1888, amended in November, 1892, of several lines in California. Mileage completed Dec. 31, 1891 was 1,716, of which 242·5 miles were leased to and opuated by the Atlantic & Pacific RR. Co. Balance leased to the Southern Pacilio Co., which owns most of the stock. the lessee paying the interest, fixed charges, betterments and additions, and 44 per cent of the surplus income under the "omnibus lease." Amended articles of consolidation :fl].ed in November, 1892, included 36 companies with a mileage constructed and to be constructed or 3,391. STOCK AND BONDS.-The authorized stock is $90,000,000, par $100, of which $65,135,300 is outstandin$, all but $20,350 being held by the Southern Pacific Company. The nrst mortiage bonds of the several series are all equally secured. They are bemg gradually retired with proceeds of land sales, &c., but are not subject to call. There is also a sinking fund of $100,000 per year. Of the mort~~ge for $38,000,000; trustee is Central Trust Company. See abstract, v. 49, p. 509. LAND GRANT.-The land !?l'ant was 12,840 acres per mile, and proceeds of sales go to retire bon3.s. The total lands unsold January 1, 1892, were estimated at 7,200,000 acres, but a lar~e proportion of tWs is barren and useless for a 17rlcultural purposes without irrigation. In 18 91 the net sales were 46,255 acres, for $204,794 ; interest on defer red payments, $164,526; land notes outstanding .Tan. 1, 1892, $2,879,416. EARNINGS.-Jan. 1 to Oct. 31, 1892, (10 months,, gross, $8,541,178, against'$7,605,808 in 1891; net, $3, 703,30 l ln 1892, against $3,169,787. In 1891 gross earnings or both divisions were $9,279,822; net, $3,851,547; adding rental ($436,266) received from Atlantic & Pa.ciflo RR., etc., total net income, $4,288,378 ; surplus over charges, $1,256,734, against $689,839 in 1890; net profit due the company a.s per omnibus lease, $1,064,496. (V. 52, p. 643; V". 55, p. 765.) Southern Pacific oC New lliexlco.-Owns Arizona State Line te Rio Grande bringe, 167 miles. Operated under lease by Southern Paci.fie Oompany, the lessee paying all charges and 6 per cent of net nrofl.ts under the omnibus lease. Stock, $6,888,800 (par $100), all but $2,500 beiug held by South'n Pacinc Co. Sinking fund Jan. 1, 1892, $268,633. From Jan. 1 to Oct. 31, 1892 (10 months), gross earnings were $837,824, against $878,046 in 1891; net $401,616, against $401,577. Gross earnings in 1891, $1,0-!9,260; net, $452,910; surplus over charE°es, $185,832, against $164,837 in 1890; net ptofl.t due oompany under lea8e, $145,158. Southwest Pennsylvanla.-Greensburg, Pa., to Fairohanoe, Pa., « miles, and branches, 65 miles; total, 109 miles. Opened April 1, 1873· and leased to Pennsylvania, Railroad, which operates it at cost, pay, ing net earnin 17s as rental. Pennsylvania Railroad owns $1,057,250 of stock and $600,000 of bonds. An increase of stock from $1,000,000 to $3,000,000 was authorized in November, 1889. In 1891 gross earn• ings were $911,208; net earnings, $373,752, against $448,188 in 1890. Southwestern (Ga.)-Owns Macon, Ga., to Eufaula, 144 miles, and branches to Columbus, &c., 189 miles. Leased in perpetuity August 1, 1869, to the Central Railroad of Georgia, which assumes the liabilities and guarantees 7 per cent on the stock. Stock authorized by charter as amended is $6,000,000. In year ending June 30, 1891, gross earnings were $1,161,133; net, $200,254, against $276,932 in 1889-90 and $436,133 in 1888-89. Rental is $363,422. See Central of Georgia. Spokane Falls & Northern.-Owns from Spokane Falls, Wash lngton, to Northport, 131 miles. Completed to Little Dalles, 127 miles, in August, 1890. Extension of 9 miles to International boundary to be completed in May, 1893. At boundary road will connect with the Nelson & Fort Sheppard Ry., which is to be built in the interest of the Spokane Falls & Northern to Kootenia Lake, British Columbia, 60 miles Thls latter ex.tension bas a land subsidy from Canada of 10,240 acres per mile, and is to be completed in September, 1893. Manhattan '£rust Company, New York, trustee of Spokane Falls & Northern mortgage. Stock authorized and outstanding, $2,500,000; par, $100. Spuyten Dnyvtl & Port lliorrls.-Road is 6 miles in length and connects the New York Central & Hudson with the New York & ftarlem. Leased to New York Central November 1, 1871, till December 31, 1970. Rental is 8 per cent on capital stock o, $989,000. State L lne & Sulllvan.-Owns ft om Monroeton, Pa., to BerenJce Pa., 25 miles, and operates extension ·o Lopez, 4 miles. Stock, $990, 000 (par, $50.) The mortgage covers •,000 acres coal lands. Road lea.sea till 1934 to the Pennsylvania <I.. New York Oanal & Railroad Company; rental, $40,000 per annum. . Staten r sland.-Clifton to Tottenville, 13 miles. Capital stock authorized, 60,000 shares of $15 rer share; outstanding, 14,000 shares of actually $15 per share, but being bought by Investors for $65 a share this is now taken as par value, and whole amount out as $910,000. Leased to Staten Island Rapid Transit Co. for 99 years from July 31, 1884, at $80,600 per annum, wWch pays $4 per share on stock Interest on bonds and organization expenses. Staten Island Rapid Transit KK.-Owns line of road around the Staten Island shore, east and north sides, from South Bea.ch to a point opposite Elizabethport, N. J.; total owned 10 miles; leases Staten Island Railway, 13 mile8; total operated 23 miles. It has a 99 years' lease of the 8taten Island Rail way and controls the ferries between New Ycrk City and Staten Island and Bay Ridge, L. I.; also the fetTy MAP 01!' T.EIB RN PACIFIC~ SOUTHEY RAILROADS COMPAN STEAMSHIP AND CON ECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. 136 rVoL. LVI . Subscribe1.·s w-ill confer a great Cavor by giving immediate notice oC any error discovered in these Tables. Bonds-Princl RAILROADS. INTEREST OR DIVIDENDS. l\Iiles Date Size, or pal, When Due. Amount Rate per of For explanation of column headings, &c., see notes of Par When Where Payable, and by Stocks-Laflt Outstanding Road. Bonds Value. on first page of tables. Cent. Payable Whom. Dividend.. Staten Island Rapid Transit-( Concluded.) 2d mortgage endorsed by B. & 0., gold ........ c&r Incomes, gold (non-cumulative) ................... Stuttgart&A.1·kansas Riv.- 1st M. for $500,000, g .. c ,Summii Branch (Pa.J-Stock ...... .................. 1st mortgage, sinkin~fund, not drawn ............ ,Sunb'1-yHazle. d Wilkes .-lst,Ser.A&B.,dr. atlOO.c 2d mortg~e, income ........ ................... c&r Bunbu1-y & ewistown-Stock ............ ............ 1st mortgage ..................................... c* Suspension Bridge cf Erie Junction-1st M.gu. by Erie Byrcwuse Binghamton cf New York-Stock .......... Consol. M. (prin. and int. guar. by D.L.&W-(c*&r Syracuse Geneva~ Oorning-lstM.,s.f.dr'na par.c T!<!i:-~i1ana:.:.SEE. PADUCAH. TENNE.SSEii &1 Terre Haute([; Indianaretis-Stock ................ . c 1st mortgage (provi ed for by consol. mort.) .c&r ·- - - - - ---- ---· 31 20 ---· 20 1874 43 1878 43 1878 43 ---43 1876 23 1870 81 81 is7s 57 1875 57 1879 LABA l\lA. ---- 1873 ---- 114 Consol. mortgage for $2,200,000 .................. 114 40 Ind. & L. Mich.1st m., $12,000 p. m., gold,w.ar.,c* Terre Haute d Logansp.-lPJM., guar. byT. .&Ind. 93 1st M. on Lojans. to Soutn Bend (2d on 93 m.)gu. 65 TerreHaiite d eoria-lst mortgage, gold ......... c 144 144 ~ New mortgage for $2,500,000, ~old, gua.r....... c* c* 177 Texas 0entrai-:.Ist mortga e, N. E. Div. mortgage, gol (2 on 177miles) .... c* 52 General mortfage (pled.fed), gold ............... c* 228 .Texas~ New Or eans of'7 -1st mort. land gr.c*&r 104 Sabine Division, 1st mortgage, gold .......... c*&r 104 Debentures ......................................... Tea:as ~ Pacific-Stock, $50,000,000 ................. 1,497 lat M. (Eastern Div.), gold, a. f. red. at 100 .... c* 524 8 £01 ................ 1886 1885 1891 1885 1889 1879 1883 1887 1892 1879 1881 1884 1875 1882 1883 is75 $1,000 $2,500,000 5 g. J. & J. N'.Y., foot Whitehall St. Jan. 1, 192& 1,000 4,500,000 upto 6 g. do do Jan. 1, 1946(1) 1,000 5 g. J."·&--J. N. Y., Farmers' L. & Tr. 1921 50 4,010,350 St. Fourth S. 233 Philad Feb.16,187& ----·· J."·&--J. 1,000 1,122,000 7 do o Jan. 1, 1904. 1,185,000 5&6 M.&N. Philadelphia, Penn. RR. May 1, 1928100 &c. 100 &c. 1,350,000 M.&N. 6 do do May 1, 1938· 50 600,000 8 per an. A. & 0. Philad Guar. T. & D. Co. Oct. 1, 1892: 500 500,000 J. & J. 7 do o July 1, 189& 1,000 1,000,000 J. & J. N. Y. Lake Erie & West. July 1, 1900 7 2,500,000 See text. Q.-F. N. Y.,D. L. &W. RR. Co. Feb., 1893 100 1,000 1,966,000 A. & 0. 7 do do Oct. 1, 190& 100 &c. M15&N. N. Y., Farm. L. & Tr. Co. Nov. 15, 1905' 798,200 7 1,000 M. & S. N. Y., Gr'd Cent. Depot. Mch. 1, 1909 600,000 5 50 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 100 100 1,000 I 1,988,150 6 per an. F. & A. 1,.600,000 A. & O. 7 600,000 J. & J. 5 480,000 8. M.& g. ~ 500,000 J. & J. 1,000,000 J. & J. 6 5 g. M.& S. 1,800,000 (1) 5 g. M.& 8. 2,145,000 7 g. M.&N. 1,254,000 7 g. M.&N. 2,286,000 6 g. M.&N. 1,620,000 F. & A. 7 2,075,000 g. M.& S. J. &D. 584,000 38,710,900 ··s·g. lM:·&·· 8. 3,784,000 g N. Y., Farm. L. & Tr. Co. do do do do N. Y., Central Trust Co. N. Y.,Farm.L.&Tr.Co. do do N. Y., Union Trust Co. do do Last paid Nov., 1884. Last laid Nov., 1884. one paid. N. Y., S.Pac.,23Br'dSt. do do do do Aug. 1, 1892 tyril, 1893 J y 1, 1925 Sept. 1, 1939 Jan. 1, 1910 Jan. 1, 1913 Mch. 1, 1937 Sept. 1, 1942 Nov. 1, 1909 May 1, 1911 Nov. 1, 1934. Au{. 1, 1905, Mc . 1, 1912 Dec., 1893 N. Y.,Merc. Tr.Co.& Phil. Mch.' 1,· 'i905 EAIUIINGS.-In year ending October 31, 1891, gross, $1,234,890; ne between Tottenville, S. I., and Perth Amboy, N. J. The bridge over the Kills at Elizabethport was completed in 1890, and since July 1. I earnings and other receipts $446,832, against $419,477 in 1889-90p 1890 the entire freight traffic of the Baltimore & Ohio RR. Co. to and ' interest and 6 per cent dividends, $261,289; loss on Terre Haute & from New York has been handled by this company. See V. 51, p. 718. Loo-ansport and Indiana & Lake Michigan was $54,140; surplus.. In November, 1892, the B. & 0. was reported to be preparing to make $1§1,403, against $140,175 in 1889-90. In addition, in 1890-91 received from dividends on Vandalia preferred, $146,714. v. 54, p. 846;: extensive terminal and other improvements. SECURITIES.-The Baltimore & Ohio guarantees the 2d mortgage \'. 55, p. 590, 766. Terre Haute & Logansport.-Owns from South Bend, Ind., tobonds and owns a majority of the stock of $500,000 (par $10(?). Tlie h:tcome bonds are held by the B. ~ 0. and the Staten Island Rapid 'Iran- Rockville, Ind., 160 miles; leased Rockville to Terre Haute, 22 miles; total operated, 183miles. FormerlyLogansportCrawfordsville & Southsit, one-half each. Loans and bills payable. $374,323 Sept. 30, 1892. EA_RNINGS.-From July 1, 1892, to _Nov. 30, 1892 (5 months), g!'oss western, which was sold in foreclosure September 10, 1879, and reorearmngs $532,251, against $523,601 ill 1891; net, $219,349, agaillst ganized under present name. Leased by Terre Haute & Indiana:polls $220,86~. For 3 mont~s to Sept. 30, 1892, surplus over charges, $116,- RR. for 99 years from December, 1879, at 25 per cent of gross earnings,. and first mortgage bonds guaranteed by that company. Stock, $500,· . 365! agamst $127,091 m 1891. ~cal year now ends J~e 30. In year_ ending June 30, 18~2, gross 000; par $50. Rental in 1888-89, $142,284; loss to lessee, $26,894.; earnings were $1,046,632, net, $354,242 , interest, $196.1832 , rentals rental in 1889-90, $148,538; loss to lessee, $1,766; rental in 1890-91 ,. and taxes, $104,600; balanc_e, surplus, $52,810. In year .t890-91 gross $157 018. loss to lessee $38 740. ted fr R d ' & ' ' ' $1 030 467; net, $346,326; illterest, $185,000; rentals, etc., $112,851; ~m Terre . Haute, Pe~r1a.- oa OJ?era Ter:r:e Haute surplus for year, $48,476.-(V. 52, p. 239, 707; V. 53, p. 187,641; V. Ind., via Decat~, ~ Peoria, ill., 172 miles, of which 144 miles are 54 p 243 888. v. 55 p. 257 461 806 898.) ownedand29miles1sbytrackage over otherroads. FormedinJanu. . , ' '. ' ' ' ' ' · S ~ t .~ranch (Pa.)-This company s busilless 1:8 almost ary, 1887, as successor of the Illinois Midland. In September, 1892,. ent1r~lf ill mmmg coal; it leases the Lykens Valley RR., ~ersburg leased for 99 years to the Terre Haute & Indianapolis at rental of 30to Will!-am~town, Pa., 20. nules, and has a small branch of its own to per cent of gross earnings, with a minimum sufficient to pay interest Sumnut Mines,¾ of a_mile. Operated by the Northern Central under on debt. See V. 55, p. 766. Stock is $2,160,000 prererred 6 per cent contract. Pennsylvama RR. owns $2,190,200 stock and ~80,0!)0 bon_ds. non-cumulative and $3,240,000 common; par, $100. In Sept., 1892, a new mortgage for $2,500,000 to the Union Trust From Jan. 1 to Nov. 30, 1892 (11 mo?-ths)J.gross earID}lgS (illcluding Lykens Va.Iler> were $2,195,020, agamst ;i,2,036,259 ill 1891; net, co. as trustee was filed, for funding old bonds for new equipment, etc. The new bonds carry the guaranty, endorsed on each, of principal and $141,534, agaillst $2_6,659. In 1891 gross earnings were$1,289,820; net, $54,396; interest, $79,· interest of the Terre Haute & Indianapolis. In year ending Sept. 30, 345; deficit, $24,908; loss on Lyke.J?-S Valley, $41,281. In 1890 gross, 1891, gross earnings $363,721; net, $112,568. (V. 55, p. 590, 766.) Texas CentraJ.-Line of road from Ross, in McLennan County to$1,123,754; net loss, $20,769; deficit under charges, $101,199. . Sunbu~y Hazleton & Wilk.esbarre.-Sunbury to Tomhicken Albany, Texas, 177 miles; Garrett to Roberts, 52 miles; total, 229 iirties. Pa., 4:3 miles. Foreclosed March, 1878. Of 1st mort~age $1,000,000 This railroacl company was formed in January, 1893, to take over theis se!Ies A.. Stock ($1,000,000) and $179,~0 lsts (s~nes B) and $488,- 1·ailway company's main line sold in foreclosure April 22, 1891. The 600 mcomes are owned by the PennsylvaIDa ~R., which pays. n~t earn- branch of 52 miles is to be turned over to Mrs. Hetty Green, and the ~gs as rental, and agrees to purchase the .ser!es A coupon_s 1f. mterest main line will be extended 11 miles to Waco. v. 55, p. 1111. Bonds areis not earned, and to make payments to smkm~ ftmds. Sinking fund deposited with the Farmers' Loan & Trust Co. For l.!etterments $350,000 for l_st m~rtgage now draws about $9,500 bonus yearly at par. Gross has been borrowed on tem12orary loans. In the year endiDg Sept. 30,. earJ?.illgS ill 1891, _$544,785; net over ex~enses and taxes, $230,393, 1892, gross earnings were :i;295,000; net, $35,000. In 1890-91 gross,. $300,781; deficit under operating expenses $37,346.-(V. 48, p. 160; V. agamst $257,199 m 1890.-(V. 52, p. 761, V. 54, p. 761.) ;. Sunbury & Lewistown.-Selinsgrove Junction to Lewistown, Pa. 52, p. 165, 204, 499, 609, 681; V. 55, p. 23, 766, 1111.) Texas & New Orleans (of 18'7'4).-Houston, Tex., to Orange 43 miles. Lea~ed for ~9 years fyom July 1, 1:876, to Pennsylvania Rail. road for (?Ontingent illteres~ ill net earnmgs, which in 1886 we~e (Sabine River), 104 miles; and Sabine Cityto Rockland, 104 miles; $123,536; ill 1887,. $156,709; ill 1888, $1~3?619; in 1889,$154,179; ill total, 208 miles. Belongs to the Huntin~n Southern Pacific system, 1890, $224,967; ill 1891, $225,090. Dividends-From 1883 to 1889 together with the Louisiana western. This was a reorganization, 1874, of the old Texas & New Orleans Railroad. The stock, 18 $5,000 ooo, all inclusive 6 p. ct. per an.; from 1890 to October 1892 at rate of 8 p. c. Suspension Bridge & Erie .Juncton.-East Bu1falo Junction but $2,500 of it being owned by the Southern Pacific. In addition to to Niagara Falls and Suspension Bridge, 23 miles; Lockport & Bu1falo a.bove bonds there are $422,651 Texas School bonds. Subsidy lands Railroad leased, 14 miles; total operated, 37 miles. Roa<f opened Janu- Jan. 1, 1892, were 730,860 acres; other lands 114,481 acres. FromJan.1 to Nov. 30, 1892 (11 months), gross earnings were $1,536,al'y 1871. Itis leased to New York Lake Erie&Western Railroad Com pa~y at 30 per cent of gross receipts, which are guaranteed to be not 737, against $1,523,353 ill. 1891; net, $652,931, against $666,072. Gross earni)!gs in 1891 were $1,674,509; net, $735,072; surplus less than interest on bonds, $70,000 per annum. Lessees own $203,000 over charges, :ji437,176. In 1890 gross, $1,871,818; net, $879,747. of the stock ($500,000). Texas & PacUic.-R9AD: Eastern Di-yision-From •rexa.rkana Syracuse Bingh.amton & Ne,v York.-Owns from Ge~des, N. y to Binghamton, N. Y., 81 miles. Chartered as Syracuse & Billgham- to Fort Worth, via Whitesboro, 244 miles; Texarkana JuncShreveport to".li and opened October 18, 1854; foreclosed and reorganized April 30, tion to Fort Worth, via Marshall, 248 miles; Marshall to 1857 and controlled by Delaware Lackawanna & Western, which owns 40 miles; total eastern division, 532 miles. Rio Grande Division-Foit $1 972 900 st-0ck and guarantees, by endorsement on the bonds, both Worth to Sierra Blanco, 524 miles; Sierra Blanco to El Paso (joint prlncipal and interest of the first mortgage. For 3 months ending track) 92 miles ; Gordon Branch to coal mines, 3 miles ; total RioBept 30 1892 surplus over charges was $79,197, against $75,255 in Grande Division, 619 miles. New Orleans Division-Formerly (New Or189i. in tbe year ending June 30, 1892, gross earnings were $869,458, l~u8 Pacific R~ilroad)-Shreveport to ~ew Orleans, and Baton Rougeagainst $864,241 in 1890-9_1; net $40~,139; surplu~ .over charges braJ.lun, 346 miles. Total of all, 1,497 miles. ORGANIZATION.-The Texas & Pacific was built under act of Congress and dividends, $35,384, a~amst $22,464 ill 1890-91; dividends, 8 per cent. (V. 52, p. 280,707;V. :>3, p. 568; V. 54,p. 288; V. 55, p. 461,806.) of March 31, 1871, and other acts 18_72-74, and the laws of Texas. In 1888 the company was _reorgaruz~d pursuant to the plan in V. 43, Syracuse Geneva & Cornina-.-Owns from Col'Ill;Ilg, N. Y., to Geneva, N. Y., 58 miles, and Penn 'yan to Dresden, 6 miles; total, 64 p. 164. and V. 45,_p. 401, withouthavillgthe Co~ confirm _t~e sale in miles. This road was opened Dec. 10, 1877, and is leased to the Fall foreclosure made~ November, 18~7, thus preservrng the oi:1gmal Fe!1,BrookRailway Co. Stock is $1,325,000 (par $100), of which N. Y. Cen- eral charter. No mterest was yaid on the 2d mortgage illCOmes m . tral & Hudson River owns $662,600, besides$113,000 7 per cent bonds. 1892. See provis~on below, and V. 54, p. 486. At the reoriaruzatlon a land trust was formed. See Texas Pacifle In 1890-91 gross earnings were $669,073; net, $167,917; charges and Land Trust in 'Miscellaneous Companies." dividends, $190,306; deficit to lessee, $55,107. (V. 53 p 568.) 8TOCK.-0f the stock Missouri Pacific on July 1, 1891, owne<\ TenneHee Mldland.-SEE PADUCAH TENNESSEE & ALABAMA. . Terre Haute & Indianapolis.-Owns from Indianapolis to Illi- $6,525,000. PRICE OF STOCK.-In 1888, 18 7s@26¾; in 1889, 1712@23; m 1890, miles. total~.}20 miles; 45 branches, coal nois_ state line, 79 miles, with Leases Terre Haute &Logansport RR., 183 miles; St Louis vandalia. & 12@2412; in 1891, 10¾@16rls; in 1892, 7@14rls; in 1893 to Jan. 20,. . . Terre Haute, 158 miles; Indiana & Lake Michigan RB., South Bend, inclusive, 914@11. BoNDs.-Trustee.ttf first mortgage of 1888 IS Fidelity Ins. Trust & Safe Ind. to st. Joseph Harbor, Mich., 40 miles; Terre ~aute & Peoria (less Deposit Co., of Phil&delphia.; of second mortgage of 1888 Mercantile 7 miles T. H. & I. trackage], 165 miles; total, 670 miles. ORGANIZATTON.-Leases l:3t. Louis Vandalia & Terre Haute RR. (which Trust Co., of New York. The 2d mortgage bonds contain tlle following see) on.joint account with Pittsburg Cincinnati Chic. & St. L. RR., at 30 clause: "On and after March 1, 1892, the trustee of the mortgage per cent of gross earnings, but guarantees the 1st and 2d mortgage securing these bonds, in case of non-payment of full interest at 5 per bonds. Also owns $500,000 common and $326,000 preferred stock oftlie cent per annum, shall, on request of the holders (?f not less than oneSt Louis Vandal. & T. Haute. The Indiana & Lake Michigan ls leased third of the bonds outstanding, enter into ~ossess1on of the mortgaged fo~ 99 years and its bonds guaranteed, principal and interest. In Oc- property and mana:ge the same under the dire(?tiOn of a com~ittee aptober commenced to operate under lease the Terre Haute & Peoria pointed by a majority of the bondholders, until payment o.f illtereat m full." (See mortgage abstracts, CHRONICLE, V. 47, p. 82.) There were (which see). DIVIDENDS since 1876: In 1877, 6 per cent; from 1878 to 1884, also Jan. 1, 1892, a "Texas school loan of $144,182, for which $16.7,000 inclusive, 8; from 1885 to August, 1892, both inclusive, at the rare of consolidate~ 5s are res~rved, and $93,000 old bonds unredeemed, and $58,542 eqmpment obligations. 6 per cent per annum.-(V. 50, 'p. 275.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANLARY, 18\;3,J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .RAIL.ROAD S1'00r S Al~JJ BO 'JD:::3. MAP OF THE TOLEDO, ANN ARBOR NORTH MICHIGAN AND & CONNECTIONS. RAILWAY ""\J INVESTORS' SUPPLEMENT. 138 [VOL. LVI. Subscribers wlll comer a great Cavor by giving immediate notice oC any error discovered In these Tables. RAILROADS. For explanation of column headings, &o., see notes on first page of tables. I II Miles D a t e Size, or (Bond.:=Prtnoi INTEREST OR DIVIDENDS. When Due. t f------....:_:~....:_:=-=-...:....::==.:..::=-=-::..._-lpal. A Out!t~~ng Rate per When /Where Payable, and by Stoek8-Last Par of of Dividend. Whom. Cent. Payable Road. Bondi:; Value. I Texas & Pacific.-(Ooncluded). 1st con.sol. mort. for $25,000,000, gold ......... 0' 11,497 2d oons<?l. M. ($25,000,000), gold (see rem.) .... c* 1,497 38 Texas Sabine Val.& N. W.-lst M. $12,000 p.m., g .. c Third A.1'enue-See "MISCELLANEOUS COMPANIES." Tioga RR.-Stock 1$189,700 is preferred)........... . .. . 46 1st M., due 1882 and extended, gold.............. 46 Third-rail mortgage .. . .. . . .. . . . . .. . . .. . .. . . . . . . . .. 46 bonds................................... Extension 7 Elmira State Line Railroad 1st mortgage, guar.. . . . . Toledo Ann A.rbo1· & North Michigan-Stock.... Tol. A. A. & Gr.Tr. (South Div.) 1st mortg., ~old. . 63 Tol. A. A. & N. M. 1st M. 1 A.A.to St.Louis,Mich.g. 106 21 Tol. A. A. & Mt. Pleasam 1st mortgaget gold .. c* 63 Tol. A. A. & Cadillac 1st mort~age, gola ....... c* 40 Tol. A.A. &L. Mich. lstM., Cadillac to Copemish.. Consol mortgage for $10,000,000, gold ......... c" 256 Car trusts.......................................... .... Toledo Columbus & Cincinnati-SEE TOLEDO & OBI O CEN Toledo & Ohio Cent1·al-Common stock....... . . . . . . . . . . . Preferred stock .................................... . 1st mortga~e, for $5,000,000, gold... . .......... . i97 Western Div. (1st M.), $25,000 p. m., gold ..... c• .... Car trusts, Series 2, 3 and 4 ..................... . Toledo & Ohio Central Extension-Stock ............. . · · • · Marietta Mineral 1st mortgage, gold ........ .. .. . · 45 60 Consol. mortgage for $1,500,000, gold.......... c* Tol. Peoria & West.-Stock .......................... . 1st mortgage (for $5,000,000), gold ........... c* ~~g Scrip for coupons in 1888 (payable at will) ...... . 230 $1,000 $21,035,000 1,000 23,156,000 475,000 1,000 1888 1888 1888 I 5 g. J. & D. N.Y.Mer. Tr. Co.,&Phil. June 1, 2000 Dec. 1, 2000 None paid. 5 g. Moh. 1. 1 5 g. J. & J. N. Y. office, 15 Wall St. July 1, 1938 1· 580,900 239,500 125,000 265,000 160,000 6,200,000 1,260,000 2,120,000 400,000 1,260,000 600,000 650,000 148,000 50 . .. . 1852 500 &c. 1,000 1876 1,000 1875 1875 500 &c. 100 1,000 1,000 1884 1886 , 1,000 1,000 1886 1,000 1889 1,000 1890 .... .... TRAL. . ... 100 100 1,000 1,000 1892 issi I •~:~~ 1 · ioo 1885 ·100 &c. 1,000 1888 iS87 ..,f g. 6 g. 6 g. 6 g. 6 g. 5 g. .... 4,849,000 See text. 3,708,000 5 per an. 5 g. 3,000,000 5 g. (1) 7 377,738 1,500,000 ..6. g. 650,000 850,000 5 g. 4,076,900 ..4.g. 4,800,000 135,000 4 iss:s 0 . .. . 5 g. 7 7 7 1,A88 U!88 Various .. ........ .. .. . M. & N. Phil.,Newbold'sSon&Co M. & N. N. Y., N. Y. L. E. & W. A. & 0. Elmira,ChemungCo.Bk. do do A. & O. I ......... . .. . . . J J. & J. ,N. Y., Farm. L. & Tr. Co. M. & N. IN. Y., Office, 29 B'way. do do M. & do do M. & S. do do J. & J. J. & J. N. Y., Farm. L. & Tr. Co. . ....... .. ..... 8.1 Q.-F. N. Y., Central Trust Co. do do Q.-J. do do J. & J. do do A. & 0. .. ....... . Quar. M:·&·N. M. & N. Nov:i·,--i915 Nov. 1, 1896 Oct. 1, 1905 Oct. 1, 1905 1; Jan:· ·i921 May 1, 1924 Bept. 1.t 1916 Meh. 3u, 1917 July 1, 1919 Jan. 1, 1940 Nov. 25,1892 Jan. 25, 1893 July 1, 1935 Oct. 1, 1935 Qnar. lnstal. N. Y., Coffln&.Stanton. May·i·,--i915 Nov. 1, 1938 do do J ...&.. J. N. Y., Moraii"'::ei-others. July·1,"i917 April. (· Y., Farm. L. & Tr. Co. Apr. 1. 1893 I I GENERAL FINANCES.-In August, 1892, the U. 8. Circuit Court granted an injunction against enforcement by the Texas State RR. Commission of the low tariff for freight imposed about Sept. 1, 1891. Bee decision V. 55 p. 314, 332. No interest was paid on second mortgage incomes March 1, 1892. See provision above, and V. 54, p. 4.86. LATEST EARNINGS.-From Jan. 1 to Deo. 31, 1892 (12 months), grosi, earntngs were $6,966,790, against $7,226,462 in 1891. ANNUAL REPORT.-Fiscal year ends Dec. 31. Annual meeting is held in New York on the third Wednesday in March. Report for 1891 was in the CHRONICLE, V. 54, p. 483. 1891. 1890 1889 1888 Tot gross earnings $6 374 3.86 $6,917,802 $7,327,711 $7,226,462 1,510,741 1,467,006 1,671,744 Net'earnin~s ....... .'. i,302,717 96,151 151,156 178,909 130,936 Other receipts....... Total income .... $1,433,653 Pa.id rentals, etc..... Interest on debt...... ---. Surplus for year. $........ New equip't &real est. $1-l850,653 :i,109,665 1,279,490 ---$461,498 174,164 $1,618,162 $94,978 1,279,490 --$243,694. 390,383 $1,606,892 $82,079 1,279,490 ---$245,323 212,302 $287,334 def.$14.6,689 sur.$33,021 .Balance......... ... . . ... . .. -(V. 53, p. 257; V. 54, p. 367, 410, 483,486; V. 55, p. 314, 332, 857.) Texas Sabine Valley & North,vestern.-Longview Junction• Texas, to Carthage, Texas, 38 miles. Extension of 30 miles was pro· posed in 1892 under new charter, and on Feb. 13, 1893, Tote on propo· eition to increase capital stock and execute new mortgage. From Jan. 1 to Nov. 30, 1892 (11 months), gross earnings were $45,918, against $43,174 iI> 1891; net, $14,569, against $11,257. Stock, $12,500 per mne: par,~$100. -,ii"oga:::state line junction, N. Y., to Hoytville., _Pa., 61 miles, and Blossburg, Pa., to Morris' Run, Pa., 3 miles, of wruch is leased State Lin.~. Y., tq.Northern Central R'y, 7 miles; and Arnot Junction to HoyliVille, Pa., 12 miles. Controlled by N. Y. L. E. & W. In year 1891-92 gross earnings $350,04.1 (against $272,617 in 1890-91) ; net, $175,312 fixed charges, $71,067. (V. 53, p. 713; V. 55, p. 460.) Toledo Ann Arbor & North Mlchlgan.-(See Map.J-Owns trom Toledo, 0., to Copemish, 279 miles, and branches, 10 miles; trackage, 4 miles; total, 284 miles. Proprietary line Frankfort & Southeastern RR., Copemish to Lake Michigan, 23 miles. Total 307 miles. HISTORY.-Tbis company is a consolidation of the several companies whose bonds appear in its statement in the table above. In May, 1892, purchased the stock and bonds of the Frankfort & Southeastern. See V. 54, p. 763. In 1892 traffic contract was made with the Green Bay Winona & St. Paul, which see. BONDS.-The first mort. of 1881 covers the Southern Division, formerly oalled the Toledo Ann Arbor & Grand Trunk Railroad, and the mortgage of 1884 covers road between Ann Arbor and St. Louis, Mich. Under the consolidated mortgage of 1890 (trustee, Farrr era' Loan & Trust Company), sufficient bonds are reserved to replace di vision.al securities when due, and the remainder are to be issued for new road at $18,000 per mile of new lines with $500,000 for terminals, &c., but limited to $10,000,000 in all. (V. 50, p. 423.) Unfunded debt Jan. 1, 1892, $505,534, including $14.8,000 oar trusts and $54,000 interest accrued. LATEST EARNINGS.-From Jan. 1 to Dec. 31, 1892 (12 months), gross earnings $1,221,813, against $1,065,190 in 1891. ANNUAL REPORT.-Flscal year ends Dec. 31. Report for 1891 in V. 55, p. 296. Statistics for year ending June 30, 1892, were in V. 56, p. 81. 1891. 1890. 1889. 1888. 284. 284 250 Average mileage............. 234 Gross earnings .............. $687,579 $1,014,307 $1,127,208 $977,254 604,339 733,081 686,205 Oper'g expenses, taxes, etc. 433,392 Net earn.Jngs ............... $254,187 Interest on funded debt.... 236,800 ---- ) $328,102 294,800 $394,127 340,200 $372,915 371,640 $1,275 $53,927 $33,302 Surplus for year........... $17,387 James M. Ashley, President, 29 Broadway, New York. (V. 52, p. 81.) 56,p. v. 296; 1'35, 428, 1.141, 796; v. 53, p. 969; v. 54,763; v. 55, p. Toledo Columbus & Clnclnnatl.-See TOLEDO & Omo CENTRAL, Toledo & Ohio Central.-( See .Map)-Owns from Toledo, 0., to Corning, 184 miles, including 12 miles leased; Thurston to Columbus, 29 miles, including 5 miles leased ; total owned, 197 miles. Leases also, Corning southwardly, 13 miles; Glouster to Carrington, 11 miles ; total leased, 41 miles; total operated July 1, 1892, 238 miles. On Nov. l, 1892, began operating also from Tolt do, 0., to Kenton, 75 miles (formerly T. C. & C.J, making total operated 313 miles. Line is com· pleted from Kenton to hidgeway, 10 miles, but not in operation. By building from Ridgeway to Columbus, 0., 50 miles, company will have a double track from Toledo to Columbus and a short route to Chicago via the Chicago & Erie. V. 55, p. 590.) ORGANIZ.ATION.-Formed after sale in foreclosure of the Ohio Central main line on Avril 15, 1885. In October, 1890, a large interest in the Kanawha & Michi1mn (which see) was acquired. The Toledo Columbus & Cincinnati was purchased in 1892-see terms V. 55, p. 590. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CAPITAL 8TOCK.-Common stock was increased in February, 1891, from $1,849,000 to $4,849,000, and on Sept. 29, 1892, stookholdere voted to increase it further to $6,500,000, for extensions, rolling stoo.k and improvements. See below and V. 55, p. 322, 545, 590. The preferred ls entitled to 5 per cent non·cumulative, then common oo 5, then preferred to 2, then common to 2, then both share, pro rata. DIVIDENDS.-On common: In 1891, May, 1 per cent; Aug., I· 1n 1892. Feb., 1; May, 1; Aug., 1; Nov., 1. On pref. 114 quarterly elnee Oct., l890. PRICE OF STOCK.-Common: In 1890, 42¼1.v6812; in 1891, 44@61 in 1892, 451.v52¼; in U93, to Jan. 20, inclusive, 501.v50. Price of preferred stock: In 1890, 68¼1.v95; in 1891, 78@88; in 1892, 751.v88; in 1893, to Jan. 20, inclusive, 851.v85. BoNDs.-First mort. is for $51000,000, but no more than $3,000.,9()0 can be issued except by consent or three•fourths of the present bonanolders. The Columbus & Hocking Valley RR. Co. endorsed on the bonds their guaranty of the interest, but in September, 1891, notified the Toledo & Ohio Central that the guaranty would be disregarded as no consideration had been given. See CHRONICLE, v. 53, p. 436. On July 1, 1892, bills payable were $53,097; balance to crPdit of income, $732,836. Western Division mortgage for $2,500,000 was authorized.in September, 1892, and covers tlle road purchased in 1892 from Toledo to Ridgeway, 82 miles, and the extension thereof to be built to Columbus, about 50 miles, and (also subject to the first mortgage of 1885), the rest of the system. See V. 55, p. 322, 545, 590. The Toledo & Ohio Central guarantees the interest on $300,000 Toledo & Ohio Central Extension bonds, and principal and interest on Kanawha & Michigan bonds-see those companies. •.roLEDO COLIDIBUS & CINCINNATI.-Earnings from July 1 1892, to Sept. 30, 1892 (3 months), gross $104,592, against $87,776 in 1891; net, $34,249, airainst $32 .528. In year ending June 30, 1892, gross earnings on 72 miles were $328,132; net $98,893; mterest, 52,· 500 ; rentals, 7,490 ; miscellaneous, $20,845; bal.ance, surplus, $18,058. LATEST EARNINGS.-July 1, 1892, to Nov. 30, 1892 (5 months), gross, $947,690, against $846,901 in 1891; net. $338,644, against $306,067 earnings after Nov. 1 ln both years including Tol. Col. & Cln. .ANNUAL REPORT.-Fiscal year ends June 30. Annual mePting is held at Toledo on the first Monday in September. Report for 1891-92 was in V. 55, p. 254, 677. Earnings on 235 miles have been as follows: 1891-92. 1890-91. 1889-90. 1888-89. Gross earnings ........... $1,163,817 $1,1.388,749 $1,1.501,822 $~261,339 Net over op. ex.& taxes.. $344,526 :i,545,639 ;i;4.68,015 .:p.:.,06,306 25,564 33,018 30,760 22,084 Other income.............. Total net income........ $366,610 Paid interest on bonds... $150,000 37,088 Interest on oar trusts . . . . 29,256 Rentals.................... ........ Dividends................. 438 Miscellaneous ...... ...... $576,399 $150,000 31,636 30,133 92,625 555 $501,033 $150,000 36,878 33,019 167,966 14,802 $531,870 $150,000 31,226 34,267 294,488 3,738 Total payments........ $216,782 $304,949 $4.02,665 $518,719 $18,151 $98,368 Balance, surplus . . . . . . . . . $149,828 $271,450 -(V.53,p, 186, 436, 602; V. 55, p. 254, 322, 54.5, 590, 67'7; V 56, p. 71.) Toledo & Ohio Central Extension.-( See Map. >-Owns from Marietta to Newton, Ohio, 45 miles, connecting with the Toledo& Ohio Central main Line; branches to Stewart, etc., 15 miles; trackage Marietta to Moore's Junction, Ohio, 3 miles. Total, 63 miles. In 1888 purchased the Marietta Columbus & Northern (formerly Marietta Mineral), and in 1892 completed extension to Newton. Consolidated mortgage issued to build extension and for equipment and $650,000 held m esorow to pay oft' the Marietta Mineral 1st mortgage at maturity. Of these bonds $300,000 cNos. 1 to 300) have interest guaranteed by the Toledo & Ohio Central RR. Co. In 1891 gross earnings, ,196,978; net, $88,638; interest, $74,212; rentals, etc., $3,225; balance, sur., $9,201. In 1890 gross, $109,312 ; net, $58,036. Toledo Peoria & Western.-Owns from Indiana State line to Warsaw, Ill., 220 miles; branch, La Harpe to Iowa, m, 10 miles; trackao-e to Peoria and to Burlington, Ia., 17 miles; total operated, 247 mi1es. HISTORY.-Formerly the Toledo Peoria & Warsaw, then the Toledo Peoria & Western, and was leased to Wabash; sold in foreclos• ure October 29, 1886. STOCK, $4,500,000, of which $423,109 is in the trea ury. BoNDs.-A.bstract of mortgage (Charles Moran, Thomas Denny and Cornelius B. Gold, trustees) V. 45, p. 242. The company funded part of coupons in 1888 into 4 per cent scrip certificates due April 1, 1893, but redeemable at option of the company. LATEST EARNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 months}. gross $434,045, against $448,457 in 1891; net, $121,830, agst. $135,824. ANNUAL REPORT.-Flscal year ends June 30. Report for 1891-92 in V. 55, p. 503, showed results as follows: Surplus. Int.& Taxu. Net Re'IJenue. Em--nings. $430 $227,205 $227,635 1889-90......... $938,830 13,303 230,263 243,566 1890-91......... 926,548 50,602 232,003 282,605 1891-92......... 1,017,791 -(V. 51, p. 303, 456: V. 53, p 40'7; V. 54, p. 889; V. 55, p, 503.) J.uiWARl.., 18~·8 j https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. oEagle Mtlls 139 MAP OF THE TOLEDO· &, OHIO CENTRAL R'Y AND OF THE KANAWHA&, MICHIGAN https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILWAY. MAP OF THE TOLEDO, ST. LOUIS KANSAS CITY AND RAILROAD AND CONNECTIONS. co ~ 00 ..-j ~~ ~p z -"1 ~ ~ ,,J.. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A R INVESTORS' SUPPLEMENT. [VOL. LVI. Subscribers will confer a great f'avor by giving lrnmedia1ie notice of' any error di covered In these Tables. RAILROADS. Miles Date Size, or For explanation of column headings, &c., see notes or of Par on first page of tables. Road. Bonds Value. 'loted-0 St. Loitis & Kansas City.- Common stock. ~ Prelerred stock, 4 per cent, non cumulative..... . 1st mortgag.e, gold {redeemable at 105) ........ c' Equipment contraets ...... .. . .. ...... . .. . . ........ 1oledo Saginaw & M1is!.:eg011r-Stock.... . .. .. ... .. .. . 1st mortga~e, gold.................. . .......... .. . . Toledo & Sout Haven... . . . . . . . . . . . . .. . . . . .. . . . . • . . . . Toledo Walhonding Valley & Ohio-Stock........... Gen.M.($20,000p.m.),gold,A,guar.p. &i..c*&r l. Toronto Grey & Bruce-See CANADIAN PACIFIC. 451 451 451 ~~- 125 125 UnionPacific-Stock .... . ................ . ......... . . 1 .... 1st mort., Omaha to near Ogden, 1,035 miles .. .. . 1,035 2d mortgage, currency {Government subsidy) . ... 1,035 3d M. on road {2d on land) g.,$&£,s.f.notdr'n.c&r 1,035 Omaha bridge bonds {s. f. drawn at 110),gold.c*&r 4 Renewal {sinking fund, not drawn), gold ...... c'. 4 Collateral trust bonds, gold, s. f. drawn at 105.c", Collateral trust bonds of 1883, gold, s. f. not dr'n ' Collat. trust,Denv. L'dv. &Gun. {$3.250,000),g .c*, 325 Equip. bonds Series A, 1 10 due yearly in Oct c* Do Series B, t 10 due yearly in April. .. . 1 Do SeriesC, 1 - 0 dueyearlyin0ctober. I • • • • KansasPa-0.EasternDiv.l tM.,$16,000p.m.,~old 140 Middle Div. 1st mort., $16,000 per mile, go1d .. 253 ! 1 i--.-_.-.- $100 $11 ,250,000 . . .. 100 5,805,000 1886 1,000 9,000,000 \ 397,865 1,600,000 1888 1,000 1,560,000 1 .. . . . . .. .. 100 2,!l00,000 ; 1891 1,000 1,500,000 96 Trl~t~~r~~~gf~:~~~~~araiiiy;Gi•:Rap."&i'nil: ::1 ·26 TucsonGlobe&Nor.-lstl\-1.,g.s.f.{red.atllO) .. c*. 10 Tunnel RR. of St. Louis-See TERllINAL ASSN. OF ST. L., Ulster d: Delawm·e-Stock {$3,000,000 authorized) .. , . . . . Consol. M. for $2,000,000, ~old .............. . . . c* 78 Unadilla V(!lley-Stock for '200,000 ........ . .. .... .. • • lstM.,$2o0,000,$12,500p.m .. red.at110 . ..... 1, .... Union Elevated-See BROOKLYN ELEVATED. I I I I 1 iss3 \ 1,i88 : ~i&:888 I 1883 500 &c. 1 165,000 CELI,AN EO U . I .... 100 1 ,694,100 1888 1,000 1,393,600 1 • .•• • 100 150,000 1 1893 ,oOO &c. (?) ·, IN MI I I l i l 60, 68,500 I 1866-9 1 1,000 27,229,000 1866-9, 1,000 27,236,512 1 1874 1 1,000 5,547,000 1871 £200 732,000 1885 1,000 889,000 1879 1,000 3, 27,000 1883 1,000 4,875,000 1889 1,000 2,044,000 1887 1,000 \ 358,000 1888 , 1,000 1,263,000 1 1890 1,000 I 604,000 !' 1865 1,000 2,240,000 1866 ' 1,000 4,063,000 , . .. . INTEREST OR DIVIDENDS. 'B<>ndi=Prinoi• \Pal. When Due: Stoeke-Last Dividend. !0 ~~~g Rate per When Where Payable, and by I_____ I Cent. Payable Whom. , 100 I I I 1 ~ j . . . . . •. . . . '. ..•... •. I . . . . . • .. • • 1 •• •• • • _ . . . . i . . . •. .. . . . •.. •. . •• •.••• 6 g. J. & D. N. Y., Bk. of No. Amer. '. June 1. 1916 . .... I i Monthly. . . . .. J. & J. ,N. Y., Office, 271 B'way. I July 1, 1918 I 1 .... . . . .. . . .. . . . . . . . .. .... . 412g.J. & J.N.Y.,Farmers'L'n&Tr. July 1 , 1931 5 I1 .. • .. I 1 3 :J_-·&-- J. N. Y., w1.i;siciw.,"L.&Co. Jan:· 1,'"i933 7 g. J. & J . Bos.,Am.L.&Tr.Co;Lon ' July 1, 1913 I I · 5 g. J. & D. ' 5 g. J. & J. 1 . Y., Central Trust Co, ! June· 1,..i928 -e~·Yoi·kCity . , Jan:-=1.·,--i933 Q.- J. M. Y., Un. Trust & Bost. Apr. 1 , 1884 6 ,J. & J. do do 1896 to 1899' 6 J. & J. U.S. Treas., at maturity. 1896 to 1899 8 M. & 8. N. Y., Un. Trust & Bost. Sept. 1, 1893 1 8 g. ,A. & O. ,Lon. & ~. Y., Drexel M. A.pr. 1, 1896 5 g. JA. & 0. N.Y., Umon Tr.,& Bost. Oct. 1, 1915 6 g. J. & J. · do do · July 1, 1908 5 g. J. & D. do do Dec. 1, 1907 412g. M. & N. uo uo Nov. 1 1918 5 IA, & 0. do do , $72,000 yrly. 5 A. & 0. do uo , 210,000 yrly. 5 .A. & O. do do 1 10 yearly0ct. 1 1 Aug. 1, 1895 6 g. F. & A. do do 6 g. ,J. & D. do do June 1, 1896 l:\i To]ede St. Louis & Kansas City.-(See Map)-ROAD- Own;;; Pacific Railroad was chartered by Act of Con!n'ess of July 1, 1862, from Toledo to l!:ast St. Louis. 4-;>l miles {6112 lbs. steel); idings, eh>.. which gave the company a land grant of 12,800 acres per mile, esti72 miles, also has trackage to t. Louis and Toledo Union depot . mated at a total of 12,083,227 acres, and a subsidy in United State& HISTORY.-This company was formed June 12, 1886, by consolid.a· bond of $27,236,512 on 1,033 miles of road. The Kansas Pacific had tion, and it took all the main line of the Toledo Cincinnati & St. Loris a ubsi::ly of $6,303,000 and a land grant of about 6,000,000 a.ores. narrow-gauge road, foreclosed December 30, 1885. In June, 1890, the ince the consolidation in 1880 much additional m leage has bee.a work of standard-gauging the road -vvas completed. built and acquired thro ·1gh Sllbordinate corporations, a controlling STOCK.-The preferred is a 4 per cent coupon stock, non-cumulative, interes t iu whose stock is held by the U. P. See separate statements and without voting power, bnt the certificates contain the following for companies marked with an asterisk in table of mileag11 above. i · "Thi 8 t k t·t t li th ert a 11 d net In 1 86 a lease of the Oregon Railway & Navigation RR. to the Ortt prov S1ons: s oc cons 1 u es a en upon e prop gon Short Line, guaranteed by U. P., was negotiated {see V. 48. p. 261. ► earnings of the companr, next after th e company's exi stmjr rst mortIn November, 1890, there was a chan~e in the mana 0'ement of the gage. The company will create no mortga(J'e of itti 0 main line other than its first mortgage, nor of any part. t'hereof, except expressly Union Pacific, Messrs. Sidney Dillon, ay Gould, Russell Sage, H. B subject to the prior lien of this certificate, without the consent of the Hyde and A. E. Orr becoming directors. See V. 51, p. 748; V. 54, p . 7:l5. holaers of at least two-thfrds of this stock present at a meeting." ·,..\.PIT..\.L STOCK.-The capital stock issued and outstanding is 60,· BoNDs.-The first mortgage, $20,000 per mile, covers the terminal 86 ,500, having been increased about $10,000,000 since 1880. property at Toledo and E. St. Louis. The bonds a.re redeemable at 105 DITIDEXDS-f?ince 1879-In 18801 6 per cent; in 18 1 , 6¾ ; in 1882, and interest upon six months' notice, but not less than the whole issue 7; in 1883, 7; m 1884, 312; none smce. can be called for payment. Total authorized issue is. 9,800,000, of PRICE OF STOCK._ In 1888, 4811>6612; in 1889, 5612'C>7114; in 1890, 40 which $800,000 held by the Farmers' Loan & Trust Co. (with J. E. $ 687R; in 1891, 321411>5212; in 1892, 35¾1il5014; in 1 ~93, to Jan. 20. McDonald, mortgage trustee) are to be sold only on co~pletwn of cut- inclusive, 39$42. off froip Dupont, 0., to Decatur, Ind. Abstract of mort. m V. 45,_p_. 403. DEBT TO u. s.-The U. s. Supreme Court decided that the payment of On Nov. 14, 1892, preferred stockholders voted down a proposition to interest on the u. s. loans was not obligatory on the companies till the issue a 412 per cent consol. mortgagefor$13,590,000. tSee V. 55, 1), 639, principal of the bonds became due. Afterwards Con"'rnss passed the 857.) On July 1, 189~, there were outstandmg $450,297 notes pay- Thurman Act, May 7, 1878, which, for the Union Paci:lc, provided that able, and $397,865 eqwpment contracts. 25 per c.ent of the net earnings, after deducting interest on the first LATEE>T EAR~INGS;..-From July 1,to _Sept. 30, ~892 (3 mo~ths), grosi-, . mortga~e bonds and construction and equipment expenditures should $666,173, agamst $0821489; net, $200,975, agamst $184,0.>7. be applied annually to the interest and sinkin<>' fund of the debt to the ~?.'NU.AL REPORT.- F1sc:a1 year end~ June 39. Report for _1891-92 Government. On J anuary 1, 1892, the sinking fund, invested in RR. Wlth balance. sheet was m V. 5.5, p. 542, showmg gross e~rn~fs $2,· I and u .. bonds, {par value) waa$10,361,500, and the premium paid on 078,416, agamst $1,67~. 781 m _1890-!)1: net, 480,3lo; IDuere t, boncl and cash uninvested was $1,912,625; total, $12,274,125. The $523,310; balance, defimt, $42,990. N. "Y. offlce,44 Wall Street.-(V. 53, debt to the United states on Jan. 1, 1893. was thus stated: Princip~ p. 126, 368, 804; V. 54, p. 598,725; V. 55, p. 463, 542,639, 766, 857.) $27,236,512; interest accrued and not paid, $817,095; intere:.t paid by Toledo Saglna,v & Diuskegon.-From Muskegon, fich., to Ash- United State • $39,665,567; repaid by Union Pactiic, $13,567,643: ley, Mich., 96 miles, connecting with the Toledo Ann Arbor & North I balance of interest paid by U. 8., $25,659,515. On Kansas Pacific Michigan. On August 1, 1888, the Grand Trunk of Canada purchased there was due the Government, Jan. 1, 1893, for principal, $6,30;000; the $1,600,000 steck and above bonds were issued having a traffic guar- interes t, $:'>,432,676. As to report of Government directors in i:;ept., antee from that road and the Chicago & Grand Trunk. In 1891 gross 1892, see V. 55, p. 545; also ,ee V. 55, p. 895. earnings were $114,143; net, $18,752; interest, $78,000. Bmros.-The u. P. guarantees either as t,o principal and interest.,<?! as To]edo Walhondlng Va11ey & Ohlo.-Owns road in opera· to interest only, certain securities of the I' ollowing companies, Illll ln· tion from Toledo Junction to Toledo, O., 80 miles, and extension formation concerning which will be foun~ under their respective heads: completed January, 1893, from Londonville to Coshocton, 0., 1 Oregon Short Line & Utah Northern; Oregon Railway & ~a.vlga~on 45 miles. A consolidation of the Northw. Ohio and the Walhon. Valley I {through guaranty of lease); St. Joseph&. Grand Island; Umon Pacific Railway. Leased to the Ptnrn~ylvania Company, 'Yhich guarantees Denver & Gulf,. and Union Pacific J;,inc~ln & (!olorado. princi:{>al and interest of the bonds. The mortgage 1s for $4,000,000 ; The outstandm~ bonds above are g1 ven mcluding the amo1mts owned by there 1s a sinking fund of 1 per cent, if bonds can be purchased at par company and plea~ed as part security for its 001:J.ateral trust_ notes o! or less; otherwise it lapse , the bonds not being subject to call. In J 1891. The amoum;s so pledged were Omaha Br1d~e bonds, $5,800; do. 1891 gross, $460,241; net, $88,001; hire of equipment, &c., $50,389; renewal, $145,000; equipment trust, Series C, ,i,671,000; oollatera.l baJancc-,$37,611. In 1890 gross, $477,234; net, $160,932. tru ~t, 4½s, $237,000; Kans~s Division ancl ollateral bond~, $5,000, Ulster k De]a-ware.-Owns from Rondout {Hudson River), N. Y., 000; $1,000 Denver Exten ion bonds. to Stamford, N. Y., 74 miles; branch to Hobart, 4 miles; leases DelaThe Union Pacific collateral trust 6s are limited to O per cent of the ware & Otsego RR., Hobart to Bloomville, 9 miles; total, 87 miles . following bonds: Omaha & Republican Valley RR., $911,000; Colorado In 1890 parties interested in the New York Central and Delaware & Central RR. bonds, $1,845 000; Utah Northern RR., $2,093,000; to~al, Hudson came into control. Finances readjusted in 1888 and consoli- $4,8-19,000. The collate1·rii t1·nst 5s of 1883 are secured by the followmg dat.ed mortgage issued to retire old 7 per cents. The balance of consol bond : Colorado Central RR., $1,235,000 ;_ Utah & Northern RR., $1,· nnissuedisreservedforfutureextensions. I 974,000; Omaha & Republican Valley Railroad, $605,000; Omaha & From July 1. 1892, to Nov. 30.i 1892 (5 months), gross earnings were · Republican Valley Railway, $1,910,000; Utah Southern RR. extension, $223,531, against $202,442 in lts91; net, $86,243, against $85,165. I $83,000; total, $5,807,000. In year ending June 30, 1892, the gross earnings were $399,866; net, I The colllllel'{(l ti-ust -112s of 1889 on Denver Leadville & Gunnison $111,927; interest. $69,650; surplu~, $42,277. In 1890-91 $376,144; , Railroad {formerly Denver Sout)l Park & Pacific) are a~clD.'ed by mortnet, $118,617. {V. 53, p. 603; V. 5o, p. 597.) ga"e bonds on that narrow-gauge i:oad at $11,009 per i:rule, $22,200 per Union Pacific Railway.-( See Map.J-Lines owned directly.- 1 miYe being authorized for extemnons. Th~re is a smkin.~ fund, but Main line {former U. Pac. RR.) Council Bluft's to Ogden and branches, bonds cannot be called. Company's stock 1s ownecl by Umon Paoifto. 1,038 miles; former Kansas Pacific Railway, KaD;sas City to Denver, I The Kansas Pacific boncf.s above are given less the amounts of each 643 miles, and Leavenworth to Lawr~nce, 34 miles; former De;11ver cla 8 held by the trustees of the consolidated mortgage. The con• Pacific R'y, Denver to Cheyenne, 106 ID.Iles; total owned, 1,822 miles. 1 solidated mort"'a~e trustees are Jav Gould and Russell Bairo, and The "U~ion_Paciflc System" on January 1, 1892, was made up of they held in ti'fist on January 1, 1892, the following bonds· of the the followmg lines:. ! Kan as Pacific, making $6,786,850 in all, viz.: Leave.nworth Bra.nch. Miles. . Miles. ' $582,000; income {unsubordinated) bonds, $241,200; ID<?Ome (sn!?o!:'"1( Union Pacific ........... ...... 1,822 *Kansas City & Omaha....... 193 nated) bonds, $3,992,650; Cheyenne Branch, Denver Pacific bonis, $1,· Denv. Leadville & Gunnison 325 *Uu 'n Pac. Denver & Gulf ... 985 974 000 They also held $183 000 U. P. collateral trust notes and Kansas Central............... 165 Wo1;iih & Denver City.... 46~ $1,980,500 of the stocks and $3,160,000 of bonds of companies con• 9maha & Republican Val.... 492 y. P. Lmcoln & Colorado... 220 . trolled by the Union Pacific. Oregon 8. L. & Utah Nor..... 1,425 Si.x small roads....... . ....... 269 I The Kansas Pacific consolidated mort~age covers the road from Kansas "Ore. R &N. Co.'s, rail lines.1,059 - - . City to Denver and branch 673 miles, subject to the divisional bonds "St. Joseph & Grand Isl'd.... 251 Total "Un. Pac. Sys.'' ... 7,672 1 (to retire which'sufflcient bonds are held) and the United States lien. •These properties, having securities of their own held IJy the public, ·, In April 1891 a new loan for $20,000,000 of 5 per cent bonds was are separately described in this SUPPLEMENT. authorized' to be'callcd the Kansas Division and Collateral Mortgalle, Also controls the Central Branch Unic•n Pacific and leased lines <388 but these bonds were only hypothecated as collateral. ~ miles) which are operated by the Missouri Pacific under an j Of the 18 530 ooo collateral 11·ust gold notes due Aug. r, 1894, issued agreement with Union Pacific for twenty-five years from 1885. in Au!nlst is91' to fund ftoatin~ debt $5,5 7,000 had been retired Also owns jointly with other companies the Leavenworth Topeka & tbrou.;'h s~le of c~llateral prior to lan. 23, 1893. A full abstract of th& 8outhweste~, 47 mil~s; Manhattan Alma & . Burli.ngame, 56 miles; trust aeed was .given in V. 53, p. 528-531. The stocks deposi.ted carry Montana Umon, 72 rmles; grand total of all linea, mcluding one-half the control of all the most important branches of the system. Th& lines operated Jointly, 8,147 miles. : notes are redeemable at the company's option at par on 30 days notioo, HISTORY, &c.-This company, the Union Pacific Ra:ilway, was ' A condensed list of the coUateral as i~ stood .i:an. 1, 1892, when formed ·by a consolidation, January 24, 1880, of the Union Pacific Rail- $18,293,000 of the notes were outstand!ng, was m SUPPLEMENT for road and the Kansas Pacific and Denver Pacific, made under authority September, 1892. Since then the reduction of the outstanding notes of the a.eta of Congress of July 1, 1862, and July 2, 1864. The Union has been accompanied by diminution int-he collateral. V. 55-, P 1111. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis i I I I I I I I I :Ft, MAP OF THE UNIO PACIFIO RA ILW AY • ai z0A P=l ~ r/1 ~ 0 0 E-4 r/1 ~ 0 ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Evergr,,en 0 a • INVESTORS' SUPPLEMENT. [VOL, LVI. Subscribers w-ill confer a great Cavor by giving i.ounedlate notice oC any er1·or discovered in these '.i'ables. RAILROADS. INTEREST OR.i.DIVIDENDS. Bonds-Prnici• For explanation of column headings, &c., see notes M~es D!ie si~ror Amount Rate per "\Vhen Where payable and by nd st on first page of tables. Road. Bonds Value. Out a ing Cent. Payable Whom.' Divid-;nd. p~o~enfa.~r - - - - - - - - - - - - - - - - - - - - -1- - - - - - - - - -1------1---- ----11----------1-----Uni-On Pacific.-( Ooncluded.J '<an. Pac. 2d m. (to U.S. Gov.) on 394m.W.Mo.R. .. Leavenworth Br., 1st M. ($582,000 in trust)_ .. Denver Pacific, 1st M. gold ($1.971,000 in trust) Denver Ex. 1st M., 2,102,000 acres, gold __ c*&r Income mortgage ($242,450 held in trust)._ . _. c Income M., subordinated, $3,992,650 held in tr. Cons. M. for$30,000,000, 1. f,· gold, notdr'n __ c* Un. Pac. Kansas Div. and Co . Trust bonds_ ... _.. U. Pac. collat. trust gold notes for$24,000,000. c&r VnionPacificDenver & Gttl/-Stock for $36,000,000 Colorado Central 1st mort., $15,000 perm...... c Denver Marshall & Boulder 1st mortgage......... Denv. Tex. & Ft. Worth 1st M. ($20,000 p.m.)g.c* Denver Texas & Gulf lstM. ($20,000 p. m.)f,.. c&r U .P. Den. & Gulf con. M., gold, sub. to call at 05.c* Ft. Worth & Denv. City 1st M., $18,000 p. m., g.c* Union Pacific Ltincoln '1! Colorado-Stock ...... ... .. 1st M. ($20,000 per mile), gold, guaranteed .... c* 1J rtited N. J. RR. ~ Oanat Oo.-Stock, 10 p. c. uar.. " e n e r al} ster. loan, ,. f. $36,920 yr, not r.,g.c Mortfage 871 (now 1st mort.) se· cures all equally.. of 8 do $36,000 yr. not dr.,g.c do do cur. loan, s. f. $40,000 yr. not dr'n.r loans of 1901, gold .............. ... c loan of 1908, gold .................. r loan of 1923, gold ................... r loan of 1929, gold ........•....... c&r 394 1865-7 . .... $6,303,000 6 M:·&··N. N. Y., un:Tr:&Boston. 32 1866 $1,000 18,000 7 106 1869 1,000 4,000 M.& N. 7 do do 1,000 236 1869 5,887,000 6 g. M.&N. N. Y.,Lond'n & Frankf't. 427 1866 50 &c. 21,250 M. & S. N. Y., Bk. of Commerce. 7 427 1866 ..... 19,000 M. & S. 7 do do 1,000 11,725,000 6 g. M.& N. N. Y., Un. Trust & Bost. 675 1879 ..... 1891 hypothec'ted M.& N. 5 ...... 1891 l,OOO&c 12,943,000 6 g . F. &A. N. Y., Drexel, M. & Co. 100 31,151,700 328 i879 1,000 4,701,000 7 J. ..&.. J. N. Y., un: & Bost. 1,000 30 1886 226,000 5 J. & D. do do 165 1887 1,000 5 g. 1\1. & N. 869,000 do do 1,153,000 5 g. A. & 0. 138 1887 l,OOO&c do do 1,000 15,698,000 824 1890 5 g. J. & D. do do 1,000 450 1881 8,176,000 6 g. J. & D. do do ...... ..... ..... 2,184,800 . .... 1,000 4,479,000 225 1888 5 g. A."·&--0 . N.Y., Union Tr. & Bost. 100 21,240,400 10 p. an. Q.-J. Phila. and N.Y., Offices. is69 £200 1,846,000 6 g. M. & S. Lond'n,J.8.Mor~an& Co -~ j 1871 200 1,800,000 6 g. M. & 8. do o 2,000,000 6 A. & 0. Philadelphia, Penn. RR. ~ ~ 1871 1,000 '73·'76 1,000 5,669,000 6 g. M.& 8. do do 1878 1,000 841,000 6 g. M. & 8. do do 00 l=l 1883 1,000 1,824,000 4 g. F. & A. do do C'.) ti:! 1889 1,000 6,020,000 4 g. M.& 8. do do C'I Trust· r ]~ LAND GRANT.-The proceeds of land sales on the Union Pacific main line are applicable to the sinking fund mortgage 8 per cent bonds. On t he Kansas Pacific the cash income from land belongs to to the consoli· dated and the Denver Extension mortgages. On January 1, 1892, the company had in cash and in land contracts from the Union Pacific grant the sum of $5,453,439, and the interest to accrue on land contracts was estimated at $1,150,000. On January 1, 1892, the Union Pacific lands unsold were 2,986,000 acres, estimated at $2,344,000; the Kansas Pacific lands unsold, 3,164,000 acres, estimated at $10,100,500, ithis last including 2,102,000 acres, valued at $5,340,000, covered by the Denver Exten. mort. Lands, from the 380th mile westward, are covered first by the Denver Extension mortg-age (covering 394th to 639th mile), and all the lands of the Kansas Pacific by the consolidated mortgage. FINANCES, &c.-The company for a number of years extended rapidly and built and acquired much new mileage, but under the express ,covenants of the trust deed securing the collateral 6 per cent gold notes no extensions can be made, no leases or guaranties of any kind assumed, no bonds issued, extended or endorsed upon any ~art of the system without the unanimous consent of a committee consisting of J. Pierpont Morgan, John A. Stewart, Edward King, F. A. Ames and A. E. Orr. V. 55, p. 545. LATEST EARNINGS.-Froni Jan. 1 to Nov. 30, 1892 (11 months), the -earnings of each division and of the "Union Pacific System" and also the grand total for all lines operated were as follows : ,--Gross Earnings.-....._ ,---Net Earnings.-Jan. 1 to Nov. 30. 1892. 1891. 189'l. 1891. Oregon S. L. & U. N. $6,626,427 $6,963,061 $2,688,849 $2,762,916 O. Ry. & N. rail lines 4,435,371 5,274,528 1,402,185 1,822,255 Un. Pac. Den. & Gulf. 5,379,311 5,303,780 1,327,932 1,383,860 St. Jo. & Grand Isl'd. 1,128,036 828,985 403,025 179,882 All other lines ....... 21,977,016 20,746,030 8,968,233 7,803,891 - - - - - - - - - - - - - - - ------ Tot. "Un.Pac.Sys." .$39,546, 161 $39,116,384 $14,790,224 $13,952,304 Ce:at.Br.&l'sedlines. 1,226,974 773,918 464,200 170,420 12 R'dsjointly own. 533,059 365,562 93,552 45,656 · -- - - - · - - - Grand total of all.$41,306,194 $40,255,864 $15,347,976 $14,168,380 ANNUAL REPORT.-Fiscal year ends Dec. 31. Annual meeting in Bos• ton last Wednesday in April. Report for 1891 at considerable length in CHRONICLE, V. 54, p. 719,722; see article p. 705. On the "Union Pacific System" proper, operations were as follows: Yea1· en,ding Dec. 311889. 1890. 1891. Average miles operated . . 7,389 7,562 7,668 Passengers carr'd one ml. 355,822,732 399,664,486 342,481,860 Rate per pass'gr per ml.. 2·414 cts. 2·336 cts. 2·477 cts. *Tons carried one mile .... 1,950,241,673 2,115,988,741 2,192,287,955 *Rate per ton per mile... l ·405 cts. 1 ·381 cts. l ·343 cts. -Gross earnings ........ _.. $39,669,600 $43,049,248 $42,699,588 Operating exp and taxes. 26,013,551 30,811,164 29,160,278 Net earnings . ....... ·-···· $13,656,049 $12,238,084 $13,539,310 P. c. of op. exto earn. .... 65·58 71·57 68·29 The company's income account, including results on all lines oper• .ated, was as below: 1889. 1890. 1891. $12,238,084 $13,539,310 Net earnings ............. . $13,656,049 163,554 115,989 168,818 Cent. Br'ch U. P net earn. 482,180 606,539 837,151 Ill.vestments out. of sys .. .... .. .. .. . _.... _. 244,720 I nt. on S. F. 8 p. c. bonds. 381,300 377,100 Cnt.on K.P.con.bds.rep'd. 93,946 172,955 Miscellaneous ............ . ______ $15,340,054 $13,435,856 Total receipts ........ . $14,447,638 $9,604,496 $10,l 9 l, 682 Interest on bonds ......... . $9,333,949 1,064,489 907,982 1,087,901 .Sinking funds ........... ... . 651,820 1,095,114 591,951 Div. on O. Ry. & N. stock .. 292,950 731,184 Discount and interest ....•• 687,469 169,321 65,714 4,032 Discount on bonds sold, &c. 15,007 96,042 Loss on roads op. jointly .. 377,417 82,506 257,252 Misc. incl. N. P. Ter. int ..... 339,003 147,045 Profit and loss ...•....... ... 161,495 Total disbursements... $12,316,867 .Surplus...................... 2,130,771 United States requirements 1,155,007 $12,657,172 $12,981,782 778,686 1,053,723 2,358,272 1,293,230 x~ -----Balance ...•.•...•........... Sur.$975,764 Def. $275,037 Sur.1,065,042 -(V. 53, p. 157, 187, 290. 368, 436, 475, 528,570; V. 54, p. 526, 561, '1 05, 719, 722, 'i 25, 1079, 1111; v. 56, p. 42, 84.) It Union Pacific Denver & GuU.-(See Map.J-This company's road extends from Cheyenne, Wy., to Orin Junction, 154 miles; Denver to Bessemer Junction, Col., 129 miles; Trinidad, Col., to Texas State Line, Tex., 137 miles; La Salle, Col., to Julesburg, 151 miles; branches (89 miles of which narrow gauge), 305 miles; total, 876 miles. Trackage, Denver & Rio Grande, Gulf Junction to Trinidad, 92 miles, and branches, 16 miles. Controls Fort Worth & Denver Citi RR., Texline, Texas, to Fort Worth, 455 miles, and Pan-handle Railroad, 15 miles, making a grand total in system of 1,454 miles. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1895 to 11:S Jan. 1, l May 1, May J j Julv J 1 '. ], 1894 uiy: i·,· "i909 JU.Re 1, 1916 Nov. 1, 1937 Apr. 1, 1937 Dec. 1, 1939 Dec. 1, 1921 y; Apr:· ·i918 Jan. 11,1893 Mch. 1, 1894 Mch. 1, 1894 Oct. 1, 1894 Mch. 1, 1901 Sept. 1, 1908 Feb. 1, 1923 Sept. 1, 1929 ORGANIZATION.-This was a consolidation in April, 1890, of the Den_ ver Texas & Fort Worth and several Union Pacific lines. It is con trolled and operated under traffic contract by the Union Pa,ci:fl.o, which guarantees the Denver & Gulf enough business to pay interest and taxes. See V. 49, p. 720. STOCK.-Capital authorized $36,000,000, of which $31,759,082 had been issued on January 1, 1892, $13,251,882 of this being owned by the Union Pacific Company and $3,406,800 by the company itself. In addition the stock of constituent companies outstanding on Ja.nua.ry 1, 1892, amounted to $2,078,010. In the table above the stock is given as reported by the N. Y. Stock Exchange on Sept. 20, 1892. The company holds in its treasury $7,766,000 of the capital stock of $9,375,000 of the Fort Worth & Denver City Railway Co., which see. Bo~ms.-The consolidated mortg~~e provides for bonds at $25,000 per mile of single and $35,000 per mile of double-track of completed railway (and for fmther amounts on the pledging with the trustee of cer• tain securities), sufficie:c.t bonds bein~ reserved to retire the divisional bonds at or before maturity. There 1s no sinkjni;_ fund for the con sols_, but the whole issue as an entirety is subject to cau for payment at 10:> on any interest day after six weeks' notice. These bonds are indorsed with the Union Pacifl.c·s guaranty of interest. See abstract of mort· gage in V. 51, p. 244. The amount of consols outstanding in the table above is that reported by the N. Y. Stock Exchange in Sept., 1892. The Union Pacific report for 1891 gave the total outstanding January 1, 1892, as $15,· 526,000, of which the Union Pacific Co. held $7,330,000 and the com• pany itself $1,027,000. See U. P. for the securities of this company pledged as security under U. P. trust deeds. The :floating debt Jan. 1, 1892, was $1,217,296. LATEST EARNINGS.-Jan. 1 to Nov. 30, 1892 (11 mos.), gross, $5,379, 312, against $5,303,780 in 1891; net/$1,327,933, against $1,383,861. A.NNuAL REPORT.-Reporti for 1891 was in v. 54, p. 719. The income from the Fort Worth & Denver City is not included in the gross gross and net earnings below, but the profit from its operations is added to get the final result. 1890. 1891. Average miles operated .................•• · 927 983 Gross earnings ........................... . $3,738,573 $3,732,244 Netearns.,afterdeduct. taxes & oper.exp. $809,901 $656,993 Add income from investments, &c. _..... 70,861 81,539 Guaranty account ........................• 464,089 Total income .................. ....•..•. Interest on bonds ........................ . Rental of track ........................... . Discount, interest and miscellaneous .... . $880,762 $821,325 148,353 81,604 :( 191 9 $1,202,620 $1,202,620 Total payments........................ $1,051,282 $1,229,472 Balance, deficit ....... _..... _... _... _...... $170,521 $26,852 64,735 PTofit on Ft. W. & D. C. operations....... 275,292 Surplus for year . ... .. ., ................... $104,771 $37,883 (V 51 143 193 244 v 52 6"'"9 v 54 719) · ' p. ' ' ; · ' p. ' ; · ' p. · Union Pacific Lincoln & Colorado.-Owns from Salina to junction with the Kansas Pac. Ry. at Oakley, Kan., 225 miles. The bonds are guaranteed by Union Pac., by endorsement; trustee of mortgage is the American Loan & Trust Co., of Boston; sinking fund of 2s of 1 per cent yearly, but bonds cannot be drawn. Union Pacific owns all the stock except what is held by certain counties in Kansas. In 1891 gross earnings, $211,964; net over taxes, &c., $107,509 (against $48,326 in 1890) ; traffic guaranty, $116,350; total net income, $223,950; interest, $223,950, and sinking fund, $30,053; balance, deficit, $30,053, against $86,601 in 1890. (V. 47, p. 490, 803.) United New- .Tersey Railroad & Canal Co.-(See map Pennsulvania R. R.) Controls an important system of roads in Northern New Jersey, having a line from New York to Philadelphia, another from Perth Amboy to Camden, opposite Philadelphia, and branches to Long Branch, Berkeley, etc., N. J., and to Manunka Chunk, Pa. Tot-al mileage 450 miles. The principal lines owned directly are from Jersey City to Trenton, 56 miles, and from Camden to South Amboy, 61 miles; 9 branches, 29 miles; total (owned directly) 146 miles. Al-so owns the Delaware & Raritan Canal, 66 miles. Among the lines leased are the Philadelphia & Trenton and the Belvidere Delaware-which see. LEASE. - Leased in May, 1871 to the Pennsylvania Railroad for 1)99 years, at a rental of 10 per cent on the stock, besidesintereston bonds. Pennsylvania Railroad owns $1,350,000 stock. · BoNos.-The general mortgage of 1871 is for $20,000,000 (trustee, Fidelity Insurance Trust & Safe Dep. Co. of Phlladelphia), and secures equally all the bonds in the table, though issut.:1 at different dates. The 6s due in 1894 were plain bonds merely until secured by this indenture EARNINGS.-In 1891 gross $18,995,592; net, including income from investments, $4,587,220, against $5,134,976 in 1890. Net loss to lessee in 1881, $302,864; in 1882, $568,759; in 1883, $635,914; in 1884, $593,536; in 1885, $159,496j_ in 1886, $179,016; in 1887, $227,991; in 1888, $160,501; in 1891, ;i,276,455. Net profit in 1889{ $138,712; in 1890, $396,885. Sinking funds December 31, 1891, hela. securities of par value of $4,343,000 and cash uninvested $91,318. Jvlilf~ 3:JUR8 __J .AiJ!sw.orth. w 0 V Rico o • • .. / Silv.er.ton MAP OF THE AND GULF RAILWAY CO. I AND ITS CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M E Seven ruvers iJ T '.1' kmorton ° ,B$~~se Alv.or.d Ga ~ ~ , WO RT ·, . , d 0,,~., · ~~an :: Bbome Cale ,Albany ·~\1--~--•.~-·--.,~-. . ~~·.:· ·• :• HENRIETT Bed~f!::ale. I 146 INVESTORS' SUPPLEMENT. fVoL, LVI, Subscribers will confer a great favor by giving Immediate notice of any error discovered In these Tables. Bonds-Prtnof RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size,or pal,When Due Amount Par of For explanation of column headings, &c., see notes of Outstanding Rate per When Where P~able, and by Stocks-Last Road. Bonds Value. on :first page of tables. Cent. Payable om. Dividend. --- Ut~C~.dS~: Val;-Stock,6p.c.gu. byD.L.&W. UtUJa Clinton d in8r_h ton-lstM., ~ar. D. &H ... c Valley (N. Y.)-Stoc , 5 p. c. guar. y D. L. & W ... 1st mort~age (for $500,000) ....................... Valley (Ohw)-lst mort., Cleve. to Canton, gold •• c• Consol. mort. ($4,000,000) gold, s.f.,notdr'n.c*&r Valley (Virt,nia)-lst mortgage for $1,000,000 .. c Va-mont ct ass.-Stock, 6 p. c. guar. by Fitchbur§' Bonds, not mortgage (guar. byFitchburgRR.).c Termont Valley of 1871-Stock ....... ............... 1st M.hwith $500,000 Sul. Co. RR. stock as col. .c* Vicks. 8 revep. ct Pacific-Prior lien mort., gold .. c* 1st mortaage, gold ............................... c* 3d M. an 1st M. on land, $2,500,000, gold...... c* Inc. bds., non-cum. (there are also $127,000 old Os) Va. Midl'd-St'ck($4,524,233 owned by R.&W.P.T.) Mort., lstser., lstM. Alex.to Gordonsv.&br.,97m. 2d series, 1st mort., Charlot. to Ly1wh., 60 m.). 3d series, 2d lien on 60 miles; 3d on 97 miles ... 4th series, 4 per cent till March 1, 1901. ........ 5th series, 1st on 115 miles ...................... 6th series ........................................ Gen. mort., int. guar. bd R. & D., $12,500,000.c"' General mort., prin. an int. ~ar. (endorsed)gold Charlotev.&Rapid.(l'sed) 1st .,s.f.,dr'natl00.c* Virtnia <f Truckee-Stock ........................... Wa ash.R.R.-St.L. K. C. &No. lstmort.(NorthMo.) St. L. K. C. & No. 2d M.t real estate and railway .. c St. Charles Bridge ls mortgage, gold ......... c~ 2d mortgage .................................... 97 31 12 12 59 83 62 59 50 24 188 188 188 ..... .... 97 157 157 157 272 75 347 347 28 354 373 ..... --·· -··· 1889 issi $100 1,000 100 1879 100°&0. 1,000 1881 1881 1,000 100 ·--· 1,000 1883 50 1,000 1,000 1885 1881 1,000 1,000 1886 1887 ·--· ....... 100 1881 100 &c. 1881 100 &c. 1881 100 &c. 1881 100 &c. 1881 100 &c. 1,000 1881 1,000 1886 1,000 1886 1879 100 &c. - - ... ·-·· 1,000 1865 1,000 1874 1,000 1878 100 1878 isso l $4,000,000 800,000 750,000 400,000 1,600,000 2,400,000 750,000 3,193,000 1,000,000 1,000,000 800,000 1,323,000 4,000,000 2,045,875 494,860 6,000,000 000,000 1,900,000 1,100,000 950,000 1,775,000 1,310,000 ~,392,000 2,4.66,000 412,100 5,000,000 6,000,000 3,000,000 1,000,000 388,500 .. 6 per an. 5 5 per an. 5 7 g. ~ g. 6 per an. 5 6 per an. 5 6 g. 6 g. 4-fi g. 4 M.&N. J. & J. J. & J. F. & A. J. & D. M.& S. A. & 0. A. & 0. M.&N. J. & J. A. & 0. M.& N. J. & J. J. & J. N. Y., Del. L. & W. RR. N. Y., Security &Tr. Co. N. Y., Del. Lack. & West. do do Dec.,'91, coup.last paid. Mar.,'92, coup.lasttaid. N. Y., Mere. Tr. & alt. Bost., 53 Devonshire St. Boston, Fitchburg RR. Bellows Falls. Boston, S. Dep. & Tr.Co. N. Y., Central Trust Co. N. Y., Farm. L. & Tr. Co. N. Y., Central Trust Co. Nov.1, 1892 July 1, 1939 Jan., 1893 Aug. 1, 1911 June 15, 1906 Se~t. 1, 1921 Oc. 1, 1921 Oct. 8, 1892 May 1, 1903 Jan. 2, 1893 Oct. 1, 1910 Nov. 1, 1915 Jan. 1, 1920 Ja.n. 1, 1916 Jan. 1, 1920 M:·&·· s. N. Y., Centrai"Ti-ust Co. M.& S. 6 do do M.& s. 6 do do 4-5 M.& s. do do M.& s. 5 do do M.& s. 5 do do M.&N. 5 do do 5 g. M.& N. do do J. & J. Phila. Tr. & Safe Depos. 6 . (!) . ........... ..&.. J. 7 J. N. Y., Bk.of Commerce. M.& s. 7 do do 6 g. A. & 0. do do A. & 0. 7 do do Mcii:1,..i906 Moh. 1, 1911 Moh. 1, 1916 Moh. 1, 1921 Mch. 1, 1926 Moh. 1, 1931 May 1, 1936 May 1, 1936 July 1, 1913 ··s· -- - - . ........... (t) July Sept. Oct. Oct. 1, 1, 1, 1, 1895 1895 1908 1903 Utica Chenango & Susquehanna Valley.-Owns from Utica, of which 51 miles, Strasburg Junction to Harrisonburg, f!:1 leased to the N. Y., to Greene, N. Y., 75 miles; branch to Richfield Springs, 22 miles; I Baltimore & Ohio (in perpetuity at B.& O.'s option for $89,250 yearly), 1iotal, 97 miles. Road opened October, 1872. Leased to Delaware and 9 miles to Chesa. & 0., leaving 346 miles operated. Lackawanna & Western at 6 per cent on stock. Has no bonded debt. LEASE.-In April, 1886, leased to the Richmon.d & Danville on the basis of a payment of the fixed charges and the payment by the lessee Utica Clinton & Binghalllton.-Owns from Utica, N. Y., to of any balance of net earnings to the Virginia Midland Company. The Randallville, N. Y., 31 miles. Leased during continuance of charter lessee may if it chooses advance the money for interest on the six series and renewals thereof to Delaware & Hudson Canal Company, which of prior bonds, if earnings are insufficient, but guarantee" positively pays rental of $61,500 per annnm. Operated by the New. York Ontario the general mortgage interest. The Richmond Terminal Co. owns & Western. The street lines owned by the company are leased to Utica $-1,524,233 stock, mostly pledged under trust deeds. Belt Line Street Railroad Company for $15,000 per annum. Capital In June, 1892, the Richmond & Danville and the Richmond Terminal stock, $849,285 (par $100), of which city of Utica holds $200,000, with were placed in recei-fers' hands (see those comvanies), but interest on Interest guaranteed 5 per cent, the balance paying 1¾ per cent. the Va. Midland bonds has been paid on demand. BONDS.-The fourth series bonds bear 4 perc't till Mar. 1, 1901, and 5 Valley (N. Y.) Ral1road.-Owns from Binghamton, N. Y., to State Line of Pennsylvania, 12 miles. Opened October, 1871. Leased to thereafter. Of the $12,500,000 (J'eneral mortgage bonds, $7,635,000 Delaware Lackawanna & Western at 5 per cent per annum on stock, were, held to retire the serial bon'a.s, also enough for the incomes. See abstract, of mortgage, V. 47, p. 23. Pa.rt of the ~eneral mortgage bonds the lessee assuming the interest on bonds bear the endorsed ~uarantee in gold as to principal and interest of the Valley (Ohlo).-Owns from Cleveland, 0., to Valley Junction, 0.,75 Richmond & Danville. The unstamped bonds are currency bonds, but miles. and 13 miles of small branches. In June, 1892, the company may be stamped payable in gold on a payment of 21.g per cent. being financially embarrassed, Henrv M. Keim and J. K. Bole were EAR-XINGS.-For the year ending June 30, 1890, gross $2,27!,383; appomted receivers. V. 54, p. 1011; 'v. 55, p. 23. Of the $2,400,000 nPt, $719,219; surplus over charge~, $21,951. In 1890-91 gross, $2,· -0onsols. given above as outstan ling, $876,000 on March 1, 1892, were 395,929; net, $906,548; sur. over charges, $163,029.-(V. 53, p. 843.) pled~ed as collateral for loans. This mort. is a first lien on the Cleveland Wabash Rallroad.-Owns a,nd operates an extended system t.ermmal property. On July 1, 1891, the report to the Ohio State RR. of roads, clearly shown on the accompanying map, al! follows. viz.: Commissioners showed funded debt $3,271,599; current liabilities, $1,890,263. Capital, $1,261,973; par, $50. Control acquired in OWll'ED EAST OF .MISSISSIPPI RIVER. I OWNED WEST OF MISSISSIPPI RIVER, Miles. 1 Miles. -1889 by the Baltimore & Ohio. Earnings in 1891, $757,440; net, $216,I St. Louis to near Kansas City. 275 005, as-ainst $262,436 in 1890. Recelvt-r's certificates for $40,000 are Toledo, 0., to East Hannibal, Camp Pt. and Elvaston, Ill. 536 St. L. Levee to Ferguson, Mo. 11 -to be issued for betterments. In September, 1892, certain of the first mortgage bondholders filed with the court a protest against fore- Decatur, Ill., to E. St. Louis.. 110 Moberly to Ottumwa, Mo.... 131 June. near Chicago to EfflngSalisbury to Glasgow, Mo.... 15 -elosure. (See V. 55, p. 178; V. 54, p. 1011; V. 55, p. 23, 178, 422.) ham and Altamont, Ill...... 216 LEASED WEST OF MISSISSIPPI RIVER.. Valley (Vlrglnla).-OwnsfromHarrisonburg to Lexin~on,Va., 62 Streator to Fairbury.......... 31 Brunswick to Pattonsb'g,Mo. 80 miles. By this and connecting lines under Baltimore & Omo control, Edwardsville to EdwardsCentralia to Columbia, Mo... 21 the distance from Lexington is 243 miles to Baltimore and 217 miles to ville Crossing, Ill........... 8 Wasnington. The Baltimore & QlJ.!o owns $1,020,000 stocK and the Delrey,near Detroit, to Butler 110 Owned & leased W. of Miss. 533 City of Baltimore $1,000,000 stock. Stock outstanding, $2,731,839 (par, $100). In year 1890-91 gross earning1,1 were $159,4'70; net, $42,· Total. ...................... 1,012 Tot. cov'r'd by 1st & deb. M.1,5« 185. In 1889-90 deficit under interest, $18,100. TRACK.A.GE, ETC. VerJnont & Massachusetts.-Line of road, Fitchburg to Green· LEASED EAST OF MISSISSIPPI RIVER. Laketon June. to Chicago .... 123 8 short pcs. into Quincy, De41.eld, Mass., 56 miles; branch, 3 miles. The road is leased to the Fitch· Eel River RR. Butler to Lotroit,&c.,(18 m. being own'd) 92 gansport, Ind. . . • . . . . . . • . . . . . 94 burg RR. for 999 years at 6 per cent on stock. The lessee to September Operat'dforPurchasing Com. 70 30, 1892, had invested $1,544,526 in improvements for this road. 6 The following is a statement of Maysv.to Pittsfield (leased) .. , VerJnont Valley of' 1871.-Owns from Bellows Falls to Brattle- lines owned and leased west of the boro, Vt. 24 miles; and by ownership of stock the Sullivan County RR. Mississippi and of trackage, &c. Grand total operated ..•••.• 1,930 from Bellows Falls to Windsor, Vt., 26 miles; total, 50 miles. Controlled HISTORY, ORGANIZATION, &c.-The Wabash St. Louis & Paolflo, which in the interest of the Connecticut River RR. The N. Y. N. H. & Hart. -owns $249,700 stock. The Sullivan County RR. stock or $500,000 is was a consolidation in 1879 of the Wabash Railway and the St. Lou18 Kansas City & Northern, was sold in foreclosure in 1889, this company -deposited as additional security for the above mortgage bonds. Dividends since 1880 have been: In 1881, 4¼ per cent; in 1882, 4; from being organized on July 12, 1889. For outline of reorganization plan see L'ITESTORS' SUPPLEMENT upto January 1889. 1883 to Jan., 1893, both inclusive, at the rate of 6 per cent yearly. The Boone Co. & Booneville RR. is leased till May, 1973. The BrunsFrom Jan. 1 to Sept. 30, 1892 (9 months), gross earnings, $152,150, wick & Chillicothe was leased to St. Louis Kansas City & Northern for .against $140,154 in 1891; net, $56,456, against $49,077. 999 years. Its bonds bear 6 per cent interest till August 1, 1900, then Vicksburg Shreveport & Pacific,-( Su Map Cincinnati New 8 per cent till maturity. On April 1, 1887, the Eel River RR. was Orleans <I Texas Pacijic.)-From Delta, La., on Mississippi River, to leased for 99 years (See that company). Entrance to Chicago is soourefl Shreveport, 170 miles, and extension to Texas State Line, 18 miles over the Chicago & West Indiana, of whose stock this company owns :(the latter leased to Texas & Pacific); total, 188 miles. $1,000,000. As to lino under construction see below. ORGANIZATION AND STOCK.-Successor to Vicksburg Shrev. & PaciCAPITAL STOCK.-The capital stock is $52,000,000, of which $24,000,· -fie sold in foreclosure Dec. 1, 1879. The stock is $1,601,500 (par 000 is preferred, havins- a preference of 7 per cent per annum non$100), of which the Alabama New Orleans & Texas Pacific Junction cumulative, and $28,00u,000 is common; par both, $100. Railroad Company holds a majority, together with $3,692,000 of the lRt PRICE OF STOCK.-Common in 1890, 818@15; in 1~91, 815s@16; in mortgage and $965,500 3d mortgage bonds. 1892, 10@1538; in 1893, to Jan. 20 inclusive, ll@ll7s. BONDS, ETC.-Third mortgage carries 4 per ct. till 1894, thereafter 5. Price of I_>referred-In 1890, 15@311.g; in 1891, 16 7a@34lg; 1892, Net proceeds of land sales go to payment of interest on these 22¾@33¼; m 1893, to Jan. 20, inclusive, 2338'@25¾. bonds if necessary, otherwise to sinking fund; no bonds drawn (see v. BoNos.-Abatracts of the mortgages of 1889 were in V. 49, pp. 43, p. 104). Lands unsold June 30, 1892, were221,888 acres. Trustees -Of prior lien mortgage and of 3d mortgage, Cent. Trust Co.; of 1st mort., 270-273. The first mortgage covers lines both east and west of the Farmers' Loan & Trust Co. Car trusts June 30, 1892, $64,284, due Mississippi, and enough bonds are retained to retire the prior liens o• 1894. Coupons due and unpaid to June 30, 1892, 1st mort~age, $859,· roads west; but the second mortga"'e covers only lines east of the river, 1}20 ; 3d mort~age, $233,452. Nov., 1891,final payment of $5,000 was as above, 1,012 miles. Of the aebenture mortgage bonds $3,500,000 are series A (preferred in respect to interest payments only) and $26,made on coupon of this mortgage due July 1, 1888. 500,000 series B. Series "A" received 6 per cent interest in 1890; in LATEST EARNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 months), 1891, 6; in 1892, 6; in 1893, January, 3 per cent. gross earnings were $245,863, against $296,335 in 1891; net,$51,000, The Detroit & Chicago Extension bonds cover 150 miles buildagainst $92,569. ing from Montpelier. Ind., to a junction with the Chicago & Western ANNUAL REPORT.-Fiscal year ends June 30. Report for 1891-92 Indian~ Railway at Hammond, near Chicago. The company agrees to was in V. 55, p. 804, showing grose $632,870; net, $153,883; income keep the earnings of this division separately, and having paid therefrom la!i!d sa,le.<i, etc., $44,741; interest paid, $399,557; miscellaneous, from the interest on these bonds, to apply the surplus earmngs in any $5,410; balance, deficit, $199,933. In 1890-91 gross, $636,681; net, year up to an amount equal to 2 per cent of the bonds outstanding, to a $157,264. (V. 51, p. 303; V. 53, p. 639; V. 55, p. 543, 804.) sinking fund for the issue, the bonds to be purchased or drawn by lot Virginia Mldland.-(See Map of .Richmond <I Danv ille).-LINE OF and paid at 110; but no more than $70,000 bonds are to be redeemed in RoAD.-From Alexandria to Gordonsville, 88 miles; Warrenton Branch, any one year. Mort~a~e is for $3,500,000. Trustee, Central Trust 1} miles; Charlottesville to Lynchburg, 60 miles; Lynch burg to Dan. Company. S. e full aostract in V. 54, p. 1049. ville, 66 miles; Pittsville Branch, 9 miles; Manassas Junetion to HarOBLIGATIONS ON LEASED LINES other than on the bonds in tne table ·risonburg, 114 miles (of which 51 miles leased t-0 Baltimort> & Ohio), above are: Eel River Railroad Co.-Annual rental charge, $60,000 per small branches, 9 miles ; total owned, 348 miles. Leases: Charlottesville annum, April 1, 1887, to April 1, 1892; $75,000 per annlltn, April 1, & Railroad, Orange Court House to Charlottesville, 28 miles; 1892, to April 1, 1895; $90,000 per annum, April 1, 1895, and thereFra · & Pittsylvania Railroad (3 feet), Pittsville to Rocky Mountain, after. Also $500 per annum for organization expense.'!. Louluna & 30 miles; total leased, 58 miles. Total owned and leased, 406 miles; Pike County Railroad-Annual rental charge, $800. ~f1!;an https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOOKS AND BONOJ. JANUARY, 18\13.j 1~7 Subscribers will confer a great :favor by giving lm.m.ediate notice of any error discovered In the111e Tables. Bonds-Prlnci INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or nDue. A.mount Rate per When Where Payable, and by pal,Wh of Par Stocks-Last For explanation of column headings, &c., see notes of Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. on first page of tables. --- Wabash-( Concluded)- Wabash 1st :M., gold, s. f., not dr. ($34,000,000) . c 1,544 2d mortgage, gold .............................. c 1,012 Deb. mort., inc., non•cum., series A, l'ed. at par. 1,638 Do. do. series B, red. at par ................... 1,638 Det. & Chic. Exten. 1st M., gold, red. at 110.c* 150 LEASED LINE BONDS42 St. Louis Council Blu1fs & Omaha 1st mortgage .. 22 Boone Co. & Booneville 1st mort~age, int. guar .. 38 Brunswick & Chillicothe 1st mor gage, int. guar. Wabash Ohester cl: Western-1st mortgage .......... .... Wallkill Valley-1st mortgage ....................... .... 2d mortgage ........................................ 49. Wa1·e River-Stock,7i.c.rentalguar. 999yrs.B.&A.l. 18 War1·en (N. J.J-Stoc ,7 p. c. perp., g'.lar. D. L.& W 18 2d mortga~e, now 1st .............................. 18 1st consoli ated mortiage .......... . ............. West Jersey-Stock, :,12 ,600 is 6 p. c. "sa;cial" .. 1st M., cum.sink. f .$12,500 yearly, not awn.c* ..38 1st consolidated mo:-tgage ....................... c* 63 Consolidatedmortgage ............................ r 128 Salem RR. and Ocea:& City RR. bonds .......... r* 11 Swedesboro Railroad bonds ....................... Woodstown & Swedesboro 1st mortgage ....... cx 11 0 West Jersey cl Atlantic-Stock ............ . ........... "33 1st M. Newfield to A.tlan. C., 33 m., dr'n at 100. c&r Pleasantville & Ocean City 1st mortgage ..... c&r West Sho1·e--lstmor1f~e, guar. byN.Y.C.&Hud.c&r Syracuse Ontario ew York 1st mortgage ..•.. 7 448 45 1st mortgage, ($25,000 per mile/ gold........... c* ii2 West Virginia Central cl: Pittsburg-Stock ........... West Virginia cl: Pittsb.-lstM., s . . notdr'n, gold.c~ 160 1889 1889 1889 1889 1891 $1,000 $22,581,000 1,000 14,000,000 1,000 3,500,000 1,000 26,500,000 1,000 3,500,000 1878 1,000 1873 1,000 1878 100 &e. . .... 1888 1877 .... 1877 i855 1870 1875 ·ioo 50 100 .. ifo i866 500 &c. 1869 500 &c. 1879 500 &o. 1,000 i868 100 &c. 1,000 1882 50 1,000 1880 100 &c. 1885 1,000&c 1,000 1883 100 1,000 1,000 1890 isso issi GENERAL FINANCES.-The company is building a line :from Idontpelier, I::e.d., to a junction with the Chicago & Western Indiana at Hammond, near Chicago, and has issued $3,500,000 bonds thereon. The annual rental for trackage between these points is now over $90,000, without the right to local traffic. The new road, taking local business into account will, it is believed, earn more than its interest charge of $175,000 per annum. This line is to be completed in March, 1893. See V. 54, p. 289, 1048; v. 55, p. 50. LATEST EARNINGS.-From July 1, 1892, to Nov. 30, 1892 (5 months), gross eandngs were $6,534,426, against $6,559,073 in 1891; net earnmgs, before deducting taxes, $1,789,910, against $1,822,569. .A.NNuAL REPORT.-Fiscal year ends June 30. Annual meeting at St. Louis second Tuesday in September. Report for 1891-92 at length in CHRONICLE, V. 55, p. 460, 466, showing results as follows : Year ending June 301889·90. 1890-91. 1891·92. Average mileage............ 1,922 1,922 1,922 Passengers carried one mile. 149,183,000 140,904,203 170,201,067 Rate per passenger per mile 2·130 cts. 2·178 cts. 2·057 cts. Freight (tons) car'd one mile.1,430,197,332 1,209,179,055 1,390,510,161 Rate per ton per mile . . . . . • . 0·647 cts. 0·733 cts. 0·705 cts. Gross earnings . . . . . • . • • . . • . . $13,352,872 $13,028,288 $14,389,331 Maintenance of way........ $1,729,231 $1,703,289 $1,936,902 Motive power................ 2,651,758 2,611,587 2,826,392 Maintenance of cars......... 1,175,185 901,121 1,287,647 Transportation and general. 4,117,047 4,349,225 4,781,586 Total oper. expenses ... . Net earnlngs ................ . Per ct. oper. exp. to earn'gs. From rent of tracks, &c . .... Total net income ....... . Taxes ..........•• . ...... . ...• i!t~ht;;i~~~e:!a ~~tais ~ Div'nds on pref. debentures -----------------$9,673,221 $9,565,223 $10,832,527 $3,679,651 72·44 272,434 $3,463,065 73·40 372,740 $3,556,804 72·58 388,618 $3,952,085 $396,491 442,590 2,652,820 210,000 $3,835,805 $417,700 504,976 2,666,838 210,000 $3,945,422 $464,549 505,272 2,674,125 210,000 ----· Total..................... $3,701,901 $3,799,514 $3,853,946 Net surplus.................. $250,184 $36,291 $91,476 -(V. 52, p. 82,499; V. 53, p. 22,224, 257, 340, 367, 368, 369, 437; V. 53.,_ p. 922, 969; V. 54, p. 34, 289, 968, 1048, 1049; V. 55, p. 23, 60, 216, ;133, 422, 440, 460, 466, 504, 1036.) Wabash Ohester & Western.-Chester, ill., to Mt. Vernon, Ill., 65 miles, and branch, 1 mile. Extension to Mt. Vernon, 22 miles, completed in October, 1892, but what securities have been issued thereon is not stated. Stock, $250,000; par, $100. Waco & Northwestern.-Bremond to Ross, Texas, 58 miles. Sold Dec. 28 under decree of United States Circuit Court, to satisfy claim of trustee, to E. H. R. Green, representing his mother, Mrs. Hetty Green, for $1,375,000. (V. 55, p. 1111.) Warren__, N. J .-Line of road, New Hampton Junction to Delaware Bridge, N. J., 1814 miles. The road is leased in perpetuity to Delaware Lackawanna & Western at 7 per cent on stock and bonds. West Jersey.-Main line and branches-Camden to Cape May, Bridgeton, Riddleton, Sea Isle, Ocean City, &c., 187 miles; West Jersey & Atlantic Railroad, 40 miles; total, 227 miles operated. BONDS AND STOCK.-Sin.king fund for bonds of 1896 is invosted in com• pany's bonds and bonds of the Pennsylvania system, and $756,100 were so held January 1, 1892. Stock authorized, $5,350,000. The special i'Uaranteed stock is exchangeable for common stock till Dec. 31, 1892. DIVIDENDS since 1880--In 1881, 4; from 1882to 1884, h11!htsive, 3 and 3 scrip; :from 1885 to 1887, inclusive, 6; in 1888, 612; in 1889, 1890 and 1891, each 7 per cent; in 1892, March, 312; September, 312. LATEST EARNINGS.-From January 1 to Nov. 30, 1892 (11 months), gross, $1,621,186, against $1,549,187 in 1891; net, $444,590, against $425f740;_ interest, rental1 etc., $194,877, against $216,870; balance, surp us, :p249,713, againsli $208,870. ANNUAL REPORT.-Fiscal year ends Dec. 31. Report for 1891 was m CHRONICLE, V. 54, p. 642. Earnings, including leased lines, have been: 1888. 1889. 1890. 1891. Gross earnings ..••• •$1,556,033 $1,526,169 $1,613,745 $1,658,090 Total net income.... 529,250 455,072 522,917 450,998 Interest, rentals, &c. 289,407 248,933 251,237 233,552 Dividends .....•... (612) 138,082 (7) 148,217 (7) 148,217 (7) 150,640 Balance, surplus .. $101,761 $57,922 $123,463 $66,806 50 P 350 V 52, p. 533 V 54, p. 276, 642,) West Jersey & A.tlantlc.-Owns Newfield, N. J., to A.tlan"'c City, N. J., 33 miles; Pleasantville & Ocean City RR., 7 miles; total, 40 miles, Opened June 17, 1880, and operated by West Jersey RR. on a joint traffic agreement and 25 per cent of gross receipts on West Jersey :from traffic of this road to be applied to any deficit in interest and then as slnkin~ fund for bonds purchasable at 105, or drawn at 100, if' over 105. Last dividend was 2 ~er cent in September, 1890. In 1891 net earnInga were $26,322; mterest, etc., $20,333; balance, $5,989. rn• 1890 net earnings were $43,793. (V. 54, p. 276.) · --<Y https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 626,000 100,000 304,500 300,000 250,000 330,000 750,000 1,800,000 750,000 600,000 2,205,050 1,000,000 1,000,000 752,900 200,000 200,000 90,000 970,950 135,000 80,000 50,000,000 1,100,000 5,500.000 3,000,000 4,000,000 5 g. M.& N. N. Y., Central Trust Co. do do ~ g. F. & A. J. & J. N. Y., Compa,ny's Office. 6 J. & J. 5 g. J. & J. N. Y., Central Trust Co. 6 7 6 to 8 5 7 7 7 per an. 7 per an. 7 7 7 per an. 6 7 6 4&5 7 6 See text. 6 6 4 6 1 6 g. 5 g. J. & J. M.&N. F. & A. J. & J. J. & J. J. & J. J. & J. A. & 0. A. & 0. M. & S. M.& S. J. & J. A. & 0. M.& N. Various J. & D. M.& N. M. & 8. M.& S. J. & J. J. & J. J. & D. Yearly. J. & J. A. & 0. May Feb. July July July 1, 1, 1, 1, 1, 1939 1939 1939 1939 1941 N. Y., Bank of Com'erce July 1, 1908 do do May 1, 1903 Boston.Bank Redemp'n Au~. 1, 1903 July 1, 1918 N.Y.,Of.,5VanderbiltA.v Aug. 1, 1917 Aug. 1, 1917 do do Boston, Bost. & A.lb.RR. Jan. 2, 1893 N. Y., Del. L. & W. RR. Oct., 1892 do do Oct. 15, 1900 Mch. 1, 1905do do Phila., Of., 233 S. 4th St. Sept. 15, 189Z Jan., 1896 do do April, 1899 do do Nov. 1, 1909 do do 1912 & 1925 do do Dec., 1898 do do May 1, 1912 do do Phila.,Ofd 233 8. 4th St. Sept. 15, 1890 Phila., Fi elity I. T. Co. Sept. 1, 1910 Phila., Penn. RR. Office. July 1, 1910 N. Y., Gr'd Cent. Depot. Jan. 1, 2361 1933 Baltimore, Co.'s Office. Mch. l, 1892 N. Y., J. H. Davis,&Balt. July 1, 1911 N. Y., Farm. L. & Tr. Co. A.pr. 1, 1990 West Shore.-(See Map New York Oentral cl: Hudson River.J-Line of road from Weehawken, N. J., opposite New York City, to Buffalo, N. Y., with branches to Albany City and Rochester City, about 448 miles in all. Also leased, and afterwards absorbed. the Syracuse Ontario & New York, Syracuse to Earlville, 45 miles. Successor in 1885 to the New York West Shore & Buffalo, sold in foreclosure. LEASE.-Leased in 1885 for 475 years to the New York Central & Hudson and all earnings, &c., included in that company's report. The $10,000,000 of stock is owned by the New York Central Company. BoNDs.-The West Shore mortgage is made to the Union Trust Company as trustee, and covers the line of road, Weehawken to Buffalo, with branches, 448 miles in all, and also the terminals at Weehawken by ownership of all the stock and bonds of the Terminal Company. The guarantee of the New York Central & Hudson is absolute as to interest and principal and is endorsed on each bond. See abstract of mortgage in V. 42, p. 176. In the consolidation with the Syracuse Ontario & N. Y., that company's bonds "were not assumed as part of the West Shore mortgage." West Virginia Central & Pittsburg.-A. coal and railroad company in West Virginia in the upper Potomacre~_ion-the Elk Garden Coal Field. Owns road in operation from juncliion near Piedmont, West Virginia, to Beverly, Randolph County, West Virginia, 90 miles, and Elkins to Bealington on B. & O. Railroad, 18 miles; branches to Mineville, Elk Garden, &c., 17 miles; total owned, 125 miles. Operates Piedmont & Cumberiand RR. 30 miles; total overated. 155 miles. HISTORY.-Maiu line completed in 1889. Company owns 32,244 acres of coal and lumber lands covered by the first mortgage and has mineral rights on 5,407 acres more. Extensions southerly to iron beds and easterly to Baltimore are projected. In 1892 the Baltimore & Cumberland RR. Co. was organized in the interest of this company. An important traffic contract was made with the Baltimore & Ohio m 1891 by which, upon the completion of connecti:f!p links, this road will have an outlet to the lakes and all points West. v. 52, p. 204, 796. STOCK.-Stock authorized, $6,000,000, of which $500,000 was still in the treasury September 1, 1892. V. 52, p. 204. DIVIDENDS.-In 1889, 1 per ct.; 1n 1890, 1; in 1891, 1; in 1892, Moh., 1. BONDS.-First mortgage is for $3,600,000 to W. P. Whyte and the Metropolitan Trust Co., as trustees. In January, 1891, the stockholdera authorized the issue of the balance of the first mortgage bonds [as also the stockJ for extemions, etc.; but only $500,000 or the bonds had been sold prior to October 5, 1892, making 1n all $3,000,000 outstanding. See V. 52, p. 204. LATEST EARNINGS.-From July 1 to Dec. 31 1892 (6 months), gross, $550,656, against $567,156 in 1891; net, $185,845, against $196,925. ANNUAL REPORT.-Fiscal year changed to end June 30. For halfyear ending June 30, 1892, gross, $262,753; total net, $163,722; in• terest, $83,816; taxes, $16,175; balance, surplus,$63,730. In 1891 gross earnings of railroad were $594,084; net, $21~196; profit from operating P. & C. RR., $!,823; profit on coal sales, $90,139; total net earnings, $310,159; bond interest, $154,050; taxes, $22,017; balance, surplus, $131,095. In 1890 net pro:flts (coal and railroad) wer~ $266,320; surplus over fixed charges, $101,325. H. G. Davis, Baltunore, President (V. 54, p. 485; V. 55, p. 723.) West Virginia & PUtsburg.-(See .Map Baltimore ~ Ohio.JRoAD.-Opened in 1892 from Clarksburg, West Va., on the B. & 0., vis' Weston, southerly to Ca.mden·on•Gauley, West Va., 104miles, (of which 112 miles owned by B. & 0.), with branch, 6 miles; also from Weston via Buckhannon to Pickens, 50 miles; total, 160 miles, of which 109 miles have been in operation since July, 1891. See V. 55, p. 898. LEASE.-Leased to the Baltimore & Ohio for 999 years, from Jan. 1, 1890. The rental is 6212 percent of the gross revenue. The remaining 3712 is to be apvlied by B. & 0. to payment of interest on bonds, the B. & O. agreeing to advance any sums needed to pay this interest in full such advances to be a charge a"'ainst future net earnings. For first two years of the operation of t'he road, if 6212 per cent of the revenue, and for next three years if 6712 per cent of the same, does not suffice to pay operating expenses, the West Va. & P. make up the de:flciency. t::ee V. 51, p. 718. In 1905 and at end of every ten years thereafter rental may be altered by arbitration. BoNDs.-The first mortgage for $4,000,000 (trustee, Mercantile Trust Company of Baltimore) covers besides the road and its equipment 134,842 acres of timber. coal and mineral :ands in West Virgima. There is a sinking fund, but the bonds cannot be called. (See application in full for listing the bonds in V. 54, p. 725.) STOCK, common, f2,500,000; preferred, $900,000; par, $100. Preferred is 5 p. ct., non•cumulative. EARNINGS.-From January 1 to October 31 (10 months), 1892, gross, $286,9!0, against $160,921 in 1891. In year ending June 30, 1892, gross earnings were $287,762; net, $158,117; taxes, $4,205. See V. 56, p. 82. President, J. N. Camden. (V. 54, p. 721,725; V. 55, p. 898; v. 56, p. 82.) Western A.labama.-LINE OF ROAD-Selma to West Point, 138 miles. Sold May 10, 1875, in foreclosure and purchased iointly by the Georgia Railroad and Central Railroad of Georgia. From January 1 to Aug. 31 (8 months) in 1892, gross earnings were $303,334, against $3{2,839 in 1891. In 1890-91, surp over fixed charges, ,47,990, a~alnst $99,420 in 1889-90. Stock, $3,000,000 (p,a r, $100), of which Central Georgia and Georgia Railroad each owns $1,500,000. J INVESTORS' SUPPLEMENT. (VOL, LV.C. Subscribers ,vUl comer a great favor by giving lrnrnedlate notice of any error discovered In these Tables. Bonds-PrilloiRAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or Amount Rate per When Where Payable, and ·oy pal,WhenDue. For explanation of column headings, &o., see notes of Par of Stocks-Last on first page of tables. Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. West'n (Ala.J-Con. M.,g.,~u.byC.Ga. andGa.RR.o* Western Ma1-yland-Ist & d~ref. M's (1st M. end'd) 3d mo~a~e, endorsed by ity of Baltimore...... 4cth mo ., m return for City of Baltimore stock .. 5th mortgage, held by City of Baltimore, smk'g f'd 1 i:?t. i~arrisb."ii.R:; iirtor iiioris: see remarii:::: Mortg~e (for $690,000), gold................. o* lstM. est.Ext. ($16,000 p.m.),gold,guar ... o* Balt. & Cumb. Val., 1st mortiages (see remarks) WesternN. Y. ~ PennS'Jj}vaniar- took ($30,000,000) Warren & Franklin st mortgage ................. West. N. Y. & Penn. 1st M., ($10,000tOO), ~old.c* 2d mortgage (1st on equipment, e .), god ... o* 2d mortgage, deb., illo., non-cum., red. at option Income sc'p, convert. into debent.,red. at option Non-convert. income scrip ....................... West. No. Oar.-lstcon. M., g., ($1,273,000 guar.) .c' 2d oonsolid~ted mortgage ($15,000 per mile) ... .. Wutern Pennsytvania--lstmort., Blairs. to Butler.. 1 st mortl\1a~;8• Pittsb. Br., Freeport to Allereny. Consol. . ( 5,000,000), gold, guar. by Pa. R .. o* Whuling d Lake Erie-Common stock .............. .Preferred stock, 6 per cent, not cumulative....... 1st mo~age, Lake Erie Division, gold . ... ..... c* 1 st M. eelin~ Div., $ & £ (2d on 187 miles) .. c* Toledo Belt Ra· way 1st mort age, goldd guar .... Exten. and Im.pr. mort. ($1,90 ,000), gol , $ &£.c" Consol. mortgafie for $8,000,000, gold .. $&£ .... o Wichita Valley- st M. subj. to call{at 105.g... c"&r Wilkesb. & West.-First morL., $20,000 p. D?-·, &old.c Wilm. Oolum.d.A.ug.-Stock,6p.e.,guar.Wil. Wel. 1st mortgage ...................................... o 8 --- ---· 138 1888 $1,000 $1,543,000 412g. A. & 0. N.Y. Guar. & Indem. Oo. J. & J. 222,000 6 90 '58-'68 500 &o. J. & J. Balt., N. Mechanics' Bk. 6 875,000 90 1870 500 &o. J. & J . 1,000,000 do 6 do .... 90 1872 1,700,000 do do .... 90 1887 314 J. & J. 4 684,000 .... '72_;,:/9 .... do J. & J . do 162,000 5&6 Various Baltimore, Co.'s Office. ··-· 5 g. M.&N. 528,000 32 1886 do do 1:000 5 g. M.&N. 240,000 15 1888 do do 1,000 .... 351,300 do 6 J. & J. 3'4 '79-'81 do . ......... .... 100 19,730,444_ ...... 670 F. & A. Phila., Office, 242 S. 3d. 800,000 50. i865 500 &c. 7 1,000 630 1887 5 g. J. & J. N. Y., Continental Tr. 8,950,000 1,000 19,489,000 3g.o;5so. A. & O. Paid 212 scrip Af.r., '92. 630 1887 None pa1 . A. & O. 1,441,000 Var. . ... A. & 0. 2,344,486 .... Var. . ... None paid. 5 . .......... 390,907 .. & .. J. N. Y., Central Trust Co. 309 i884 1:000 3,856,000 ..6.g. J. 1,000 A. & O. 4,110,000 6 309 1884 A. & 0. Philadeiphia~ Penn. RR. 747,000 6 70 1863 500 &o. 28 1865 100 &c. do 6 do J. & J. 435.000 4 g. J. & D. 1,000 3,043,000 116 1888 do do 100 ...... 6,000,000 .... ..... ..... ·······--100 4,500,000 See text. Q.-F. N. Y., Office,40 Wall St. is·1 i886 1,000 3,000,000 5 g. A. & 0. N. Y., Mercantile Tr. Co. 5 g. J. & J. N.Y., Cent.Tr.Co.& Lon. 1,000 1,500,000 50 1888 5 g. M.& 8. N. Y., Central Trust Co. 1,000 381,000 1888 6 5 g. F. & A. 1,000 1,519,000 do 1889 do 25·4 1892 4 g. 1,000 do do J. & J. 600,0CO 5 g. J. & J. N.Y. Mercantile Trust. 1,000 769,000 51 1890 5 g. J. & J. 1,000 396,000 28 1886 New York. 100 ..... ..... Wilmillgton, N. C. 960,000 6 per an. J. & J. 1,000 6 J. & D. New York & Baltimore. 1,600.000 116 1880 ---- Western Maryland,-LINE OF ROAD-Baltimore to Williamsport, M.J.., 90 miles. Leases-Baltimore & Cumberland Valley Railroad and extension, Edgemont to Shippensburg, Pa., 34 miles; Baltimore & Har• dsburg Railroad, Emory Grove, Md., to Ortanna, Pa., 59 miles, and I.tranches, 7 miles; western extension, Hi miles; Potomac Valley RR., Williamsport to Cherry Run on the B. & o., 15 miles; total, 221 miles. TOCK.-Common stock is $684,700 ; par, $50; six per cent 1lrst pre· ferred stock, $324,000. The company has been largely assisted by the city of Baltimore, which, Jan. 1, 1893, owmd $200,000 of its common -stock, $2,388,000 of its mortgages and $2,924,850 overdue coupons. Washington County, Md., also in October: 1892, owned $110,000 com· mon and all the $324,000 preferred stocK. Of tho thirteen directors the city has appointed eight and the county two. V. 55, p. 545. VariolIB propositions have been made by different parties to purchase the city's interest in this road. See references to CHRONICLE. BoNDs.--Of the issue of $690,000 Baltimore & Harrisburg bonds, $162,000 are held in trust to pay off prior mortgages, as follows: Hanover Junction H. & G. fil'st 6s, due January 1, 1895, $42,000; Baltimore & Hanover first 6s, due January 1, 1899, ~120,000. On July 1, 1892, the company resumed the payment of the semi•an· n11al interest on the 314 per cent bonds for $1.704,000, and the 4 per oent bonds, $684,000, held by the City of Baltimore, amounting to $41,370, or $82,740 per annum; and it is said it will continue the payments regularly hereafter. The floating debt Oct. 1, 1892, was as follows: First mortgage, over• due, $43,500; bills payable (net), including long•time equipment and rail notes, $318,658; funding certificates held by city of Baltimore, 226,530; other accounts, $10,481; total, $555,669. LEASED LINES.-The Baltimore & Harrisburg, which was leased ill November, 1886, for 99 years, is practically owned. The Baltimore & Cumberland Railroad and Railway are leased for in· terest on $121,300 bonds, due July 1, 1929, and the Baltimore & Cum• berla.nd Railroad extension is leased till November 1, 1931, at $32,700 per annum, equal to 6 per cent interest on $230,000 bonds, due July 1, 1931, and 7 per cent on $270,000 stock. ncerning the projected lines, see ann•al report in V. 51, p. 875. The Potomac Valley RR. is intended as a co11.necting link between the Western Maryland and the Baltimore & Ohio and Philadelphia & Reading. Its bonds are guaranteed. by the Western Maryland and the Baltimore & Harrisburg. See Potomac Valley and V. 52, p. 121. LATEST EARNINGS-Oct. 1 to Nov. 30, 1892 (2 monihs), gross $193,· 106, against $147,099 in 1891; net, $61,017, against $34,730. ANNUAL REPORT.-Fiscal year eads September 30. Report for 1891'92 ill V. 55, p. 892, showed gross earnings $1,083,321; net earnings, 392,293 ; betterments, $86,236; balance, $306,057. In year 1890-91 gross, $904,378; ne~i. &c., $333,209; betterment11, $81,770; balance, $251,439; in 1889•9u, gross, $812,055. (V. 53, p. 845; V. 54, p. '78, :204, 460; v. 55, p. 545,639, 892.) Wesiern Ne,v York & Pennsylvanla.-Owns Buffalo to Em• porium, Pa., 121 miles; Buffalo to on City, Pa., 136 miles; Oil City to Olean, 116 miles; branches, illcluding proprietary lines, 268 miles; total owned, 641 miles; trackage, 6 miles; total operated, 647 miles. ORGANIZATION.-Reorganlzation Nov.221 1887, per plan V. 42, p. 242, of Buffalo New York & Philadelphia-; sold ID foreclosure Sept. 15, 1887. 8TOCK.-In addition to stock outstanding there is $10,269,556 ill the ~ompany's treasury, $10,000,000 of which can be disposed of only by :una.nmous consent of stockholders present at a meeting duly advertised. BONDS. -The second mortgage is a second lien on the railroad and first 4 ' on terminals, coal and equipment, subject to lease of termillals a..Ld -equipment to first mortuage bondholders if foreclosed." Till January, 1898, it bears 3 per cent illterest (or till October 1, 1892, 5 per cent in -scrip); after 1898 the rate is 4 per cent cash and, if earned 7 per oent may be paid, but after 3 per cent has beoo paid on ~econd mortg_age bonds, the stock and seconds share alike. It is especi• :ally providea, however, that no sale under foreclosure proceedings -shall take place under the second mortgage until Jan. 1, 1897, unless _proceedings be sooner taken to foreclose the first mortgage. The mcome debentures are non•oumulative, and payable at option. Trustee of first mortgage, Mercantile Trust Company, of New York; of second mortgage, Fidelity Trust & Safe Deposit Company, of Philadelphia. (Bee mortgage abstracts, CHRONICLE, V. 47, p. 109.) Second mortgage coupons due from 1888 to October, 1892, both in• .elusive, were paid ill scrip. New equipment notes Oct. 1, 1892, $917,647; bond and mortgage on real estate, $272,804; second mortgage in· terest, payable in scrip, $1,001,266; loans and bills payable, $5,923; .Kinzua Valley freight warrants, $100,000. In January, 1893, WaITen & Franklin 7s due 1896 were offered Tight of exchange for 5s of 1937 at par, receiving as bonus $15 in cash per $1,000 bond. LATEST E.ARNINGS.-July 1, 1892, to Nov. 30, 1892 (5 months), gross .$1,603,002, against $1,663,487; net, $560,334, against $547,744. For 3 months ending Be:()t, 30, 1892, surplus over charges was $170,· -457, a,gainst $167,274, mterest on second mortgage not being here deducted. ANNUAL REPORT.-Fiscal year ends June 30. Report for 1891·92 ,given at much length ill V. 55, p. 785, 804, 807, showed necessity t>f further large expenditures from net earnings for improvements. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis f3io \ ~~~~ Jan., 1900 Jan. 1, 1902 Jan. 1, 1927 July 1, 1925 1895 & 1899 Nov. 1, 1936 May 1, 1938 July,1929&'31 ........ Feb. 1, 1896 Jan.. 1, 1937 Oot. 1, 1927 After 20 yearP. After20yeare. 1907 July 1, 1914 Oct., 1914 Apr. 1, 1893 Jan. 1, 1896 June 1, 1928 Feb: "ii,: ·i893 Oot. 1, 1926 July 1, 1928 Part each year Feb. 1, 1930 July 1, 1992 July 1, 1940 1926 Jan. 10,1893 June 10, 1910 Yea1· ending June 30. 1889·90. Gross earnings .............. $3,641,055 Operating expenses......... 2,642,590 1890-91. $3,562,669 2,485,782 1891·92. $3,580,156 2,398,360 Net earnings ............. $998,465 Total net income ...... _..... 999,626 Interest, rentals and taxes. 666,720 $1,076,887 1,080,961 632,773 $1,181,796 1,181,796 652,740 ---- Surplus.................. $332,906 $448,188 $529,056 -(V. 53, p. 224,437,672,754; V. 54, p. 120,289, 800; V. 55, p. 298, 785,804,806, 807.) Western Nortll Caroltna.-(See Map of Richmond ti Danville., -Owns from Salisbury, N. C., to Paillt Rock, Tennessee State line. 185 miles; Asheville to Murphy, N. C., 124 miles; total, 309 miles. LEASED-In May, 1886, to the Richmond & Danville for $134,980-inter• est on bonds not held by Terminal Co. BTOCK-$4,000,000 common and $-!,000,000 pref.; par $100. B, •NDS-The 2d consolidated 6s for $4,110,· 000 and $1,325,000 of the 1st consols are deposited to secure the 1887 collateral trust of Richmond & West Point Terminal, while $3,160,000 common and $3,160,000 preferred stock are deposited under its collateral trust of 1889. The 1st consols have become a first lien. The Rich. & Danv. RR. ~arantee by endorsement $1,273,000 of the 1st oonsols. The Richmona & Danville was placed in receiver's hands in June, 1892, but the interest on this company's first consols has been paid as usual. E.ARNINGS.-In year endin"' June 30, 1892, gross $992,219; net, $363,114; interest on bond's, $~31,360; other interest, $!')3,469; taxes, $21,192; other payments, $55,150; balance, deficit, $1,943. In 1890-91 gross, $1,013,0-!3. On June 30, 1892, due other companies, $1,705,879. (V. 53, p. 843.) Western Pennsylvanla.-Owns from Bolivar to Butler, 71 miles, and Butler Junction to Allegheny City, 27 miles; branch, 17 miles; total, 116 miles. Leased to Pennsylvania RR. for 50 years from June 1, 1883, rental being the net earnings. In 1891 rental $629,257. In 1890 rental $873,648; paid interest and 6 p. c. dividend on $1,· 775,000 stock; surplus, $544,116. Penn. RR. owns $1,753,350 stock. Wheeling & Lake Erle.-Owns Toledo, O., to Bowerston, 0., 174 miles, and branch to Huron, 0., 12 miles; Wheeling Division; Bowerston to Martin's Ferry, opposite Wheeling, 42 miles; Steubenville branch, 14 miles; Toledo Belt, 5 miles, and coal branches, 8 miles. Total, 255 miles. Owns large interest in Wheel, L. E. & Pitts. Coal Co. HISTORY AND 8TOCK.-Sold ill foreclosure April 23, 1886, and re• organized with stock of $3,600,000 which in March, 1888, was made preferred 6 per cent non•cumulative. After payment of 6 per ceM-t on the common stock, common and preferred share pro rata. In 1891 the preferred stock was increased from $3,600,000 to $4,500,000. Common stock is to be increased from $6,000,000 to $10,000,000. DIVIDENDS.-On preferred stock-From April, 1888, to February, 1891, both illclusive, at the rate of 4 per cent per annum; in 1891, 4~; in 1892, Feb., 114; May, 114; Aug., 114; Nov., 1; ill 1893, Feb., 1 p. o. BONDS.-The improvement and extension mortgage for $1,900,000{of which $394,000 _is reserved to retire. the Toledo Belt bo~ds) cove.rs, subject to prior liens, all the property of the company, and 1s a. first lien upon the extension to Bellaire and upon the Steubenville branch. In July, 1892, stockholders voted to issue a consolidated mortgage to secure $8,000,000 of 4 per cent bonds, of which $6,400,000 to be held to retire prior bonds at or before maturity, and $600,000 to be issued at once to fund :floating debt created against deferred freight earnings; the remaining $1,000,000 will be held in trust to be issued only for property essential to conduct of the Co. 's businese. See V. 54, p. 965. LATEST EARNINGS.-From July 1 to Oct.31, 1892 (4 months), gross, $526,897, against$473,406 ill 1891; net, $154,565, against $150,970. .ANNUAL REPORT.-Fiscal year ends June 30. Report for 1891·92 was in CHRONICLE, v. 55, page 721. 1891·92. 1890-91. Year ending June 301889-90. Gross earnings ...................... $1,047,419 $1,225,305 $1,430,128 513,005 452,535 Net receipts......................... 398,088 301,133 290,541 Interest paid......................... 187,500 225,000 167,000 Dividends on pref. stock... _........ 144,000 19,782 761 Miscellaneous ...................... . Balance, surplus................ $66,588 def. $5,768 sur.$32,910 -(V. 53, p. 835; v. 54, p. 162,965; v. 55,p. 60,551, 639, '721, 724.) Wichita Valley.-Owns from Wichita Falls to ~eymour, Texas 51 miles; completed in September, 1890. S~ck authonzed, $6,000,000} outstanding, $1,020,000; par $100. Mortgage is for $6,000,000 at $20,000 p. m; trustee, Mercantile Trust Go., Morgan Jones, President. Wilmington Columbia & A.ngnsta.-Owns from Wibnington N. c., to Columbia, 8. C., 192 miles. Leases jointly with Nartheastern South Carolina. Railroad, the Central Railroad of South Carolina., Lane, s. C.. to Sumter, 8. C., 38 miles. Total operated, 230 miles. Sold in foreclosure Oct., 1879, and reorganized. In June, 1885, leased for 99 years to the Wilm. & Weldon, the lessee to pay all interest and fixed charges and 6 per cent dividend on the stock, payable semi-annually in January and July. In year 1891·92 gross ear~gs $846,287; net income, $205,024; balance to W. & W., $46,425, agamst $193,678 n 1890· 91.-(V. 53, p. 835; V. 5f\, p. 977.) ,vnrntna-ton & Northern.-Owns from Wilmington, Del., to Highs Junction, Pa., 71 miles; branches, 17 Iniles; total owned 88 JANUARY , 1893. J RAILROAD STOCKS AND BONDS. 49 8ubaerlber8 'Will conf'er a great f'avor by glvlag Im.mediate notice of" any error dl8covered In the8e Table•• Bonds-Prtnott RAILROADS. INTEREST OR D IVIDENDS. Miles Date Bize,or Amount Rate per When Where Payable, and by pa.l,WhenDue For explanation of column headings, &c., see notes of Par Outstanding of Stock6-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. Wilmington ti North.-lstM.,sub.to call in 1907... r Generalmortg~e for $1,000,000, gold .......... r Wilm. Onslow & <Ut Oarolina-lst mortgage ...... Wilmrfilf«ton ~ Weldon-Stock ........................ Ce · cates of indebtedness, non- cum., income... Sinking fund, gold, interest bonds ................. Gen'l mort. for $4,000,000 ($12,000 per mile) .. c* New equipment notes ............................. Special trust certificates......... . ................. Winona" South W.-lst M., $18,500 p. m., fold .. c* Wisconsin Oent. Oo.-Chippewa Falls&We.<i . lstM. Wisconsin & Minnesota 1st mortgage ............. Minn. St. Croix & Wisconsin, 1st mortgage .. ..... Terminal mortgage notes ........................ Improvement mortgage notes ................... Wis. Cent. R. R.-Consol. M.,lstseries,gold .... c&r Consol. M., 2dseries, income(not cum.)gold.c*&r Wis. Cent. Co.& RR. Improv't s. f. bonds, gold .. c* Wiscolli!in ' entral Co. 1st M.,$12,000,000, gold.c* Income M., non-cum., $9,000,000, gold ....... c* LEASED LINE BONDSChicago Wis. & Minn. (leased)-lst mort., gold.c* Income bonds, 6 per cent, cumulative . .. .... ... Milw. & Lake Winneba?io-See that company. Woonsorket It Pascoag-S k, 5 gc, rent. . Y &N. E. 1st mort., interest guar. by ity of Woonsocket.c Worcester Nashua & Rochester- Stock ($3,600,000! .. 114 <'., • ,,:. Worce,ter & Nashua RR. bOnd, . .. o• ~~t--f :=l do . do do ... c* ZS~~~~ Wor.Nashua& Roch. RR. bonds ... o* • ~ .... ~ o< do do do ... c* ~ ~ o m 4l Nash. & Roch.1st mort. bonds ..... o* Zanes." Ohio iver-lst M., $25,000 p. m., gold .. o* t · - - --88 88 50 .... 457 457 ..... ---· 117 10 54 ..... ..... 0 4i 6 416 .... All. All. 122 ..... 10 10 94 46 46 46 46 94 80 1887 $500 1,000 $516,000 5 J & D. Reg.; Co. mails checks. 234,000 5 g. Q.-F. do do 718,000 F. & A. 5 "ioo 3,000,000 See text. . ... Wilm., N.O., Oo.'s Office. A. ·&:·o. ..... 100 2,500,000 7 do do 1,000 7 g. J. & J. N.Y.,Balt. and Wilming, 936,000 issi5 1,000 3,000,000 do 5 do J. & J. .... 450,000 ---- M.. ..... ---· Wilmington: ·N. C. &N. 380,000 6 isss 1:000 2,118,250 6 g. A. & 0. N. Y., J. Walker & Sons. 1874 1,000 150,000 M.& N. Boston, 50 State St. 7 1880 do ..... A. & 0. 810,000 7 1884 . ... M.&N. do 180,000 6 1885 . .... F. & A. 400,000 do 8 1886 215,000 do M.& s. 8 1879 500-&c. 1,522,000 5 g. J. & J . N.Y.,36Wall,&Boston. 1879 500 &c. 13,000 7 g. J. & J. 1891 1,000 5 g . M.& N. N.Y., 36 Wall &·Boston. 2,687,877 1,000 11,265,000 1887 5 g. J. & J. N.Y.,36WallSt.&Lond. No coupons paid. 1887 1,000 7,527,166 5 g. A. & 0. 1892 1891 1885 1885 1,000 2,860,000 1,040,000 . ... .... 100 1,000 100 i873 500 &c. 1875 l,OOO&c 1886 1,000 1890 1874 500.&c. 1886 100 &c, 1890 miles; trackage, 4 miles; total operated, 92 miles. Organized J anuary 18, 1877, as successor to the Wilmington & Reading RR.; sold h1 foreclosure nee. 4, 1876. BONDS.-Under the general mortgage for $1,000,· 000 1-1ufficient bonds are reserved to retire present indebtedness at maturity. STOCK authorized, $1,500,000; outstanding, $ 1,278,050; par $50. Gross earns. in 1891, $444,628 ; net, $65,334; mterest, $25,046; surplus, $40,287. (V. 53, P, 886 ; V. 5/'i, p. 257.) WHm.ln~ ton & W e ldon.-ROAD-Owns Wilmington to Weldon, N. C., 162 miles, and from South Carolina State line to Cont ntnea, N. C., 116 miles; bi:anche<1, Scotland N .. ck (Halifax to Kingston), 85 miles; Tarboro, Nashville, Clinton, etc., 94; total owned, 457 miles. Operates Albemarle & Raleigh RR., Tarboro to Plymouth. 56 miles; Florence RR., 24 miles; Manchester & Augusta. 19 miles. Leases Wilmington Columbia & Augusta, 189 miles; Central South Carolina (jointly with Northeastern South Carolina RR.), 38 miles; Hartsville RR., 10 miles. Operated in same inter t: Wilmington Chadbourn & Conway, 50 miles; Cheraw & Darlington, 40 miles; Cheraw & Salisbury, 25 miles; Petersburg, 59 miles: Richmond & Petersburg, 27 miles; Norfolk & Carolina RR., 110 miles; total, 1,151 miles. The roads of this system form the Atlantic Coa t Line. In 1892 shortened its route from Charleston to Richmond by 61 miles. ORGANIZATION.-Organized in 1855. In June, 1885, leased for 99 years the Wilmington Columbia & Augusta (which see). Company's charter makes it proi;,erty tax exempt, but State seeks to levy on branch lines, though bmlt under original charter. Matter in litigation. DIVIDENDB.-From 1884 to July, 1891, both inclusive, at rate of 8 per cent per annum., payable Jan. 1 and July 1; in November, 1891 (on $2,500,000 stock) 4 per cent was paid, thus anticipating the January, 1892, dividend; in July, 1892, 4 per cent. The certificates of indebtedness were issued as scrip dividend in January, 1887. ANNUAL REPORT.-Fiscal year ends June 30. Report for 1891-92 was in V. 55, p. 977, showing for road proper: 1888-89. 1889-90. 1890-91. 1891-92. Gross earnings ........ $1,224,044 $1,350,853 $1,535,714 $1,451,012 Expenses............. 691,172 681,137 855,679 802,884 6 to 6 200,000 5 per an. 100,000 5 3,099,800 6 per an. 250,000 5 385,000 5 150,000 4 80,000 4 564,000 5 6 g, 2,000,000 1907-1927 Aug. 1, 1932 Feb. 1, 1921 July 15, 1893: Irredeemable. Mayrn] 1897 5 .,. ... ... . At Co.'s option, ~r. 1, 1928 ay 1, 1904. ~r. 1, 1910 ay 1, 1915 Feb. 1, 1895Sept. 1, 1906 Jan. 1, 1909· Ja.n. 1, 1909 May 1, 1931 July 1, 1937 July 1, 1937 M.& S. N.Y.,36WallSt.&Bost. Mch. 1, 1916 ..... . ......... Semi-an Providence, R. I. do do Worcester, Office. Boston, Globe Nat. Bk. do do do do do do do do Last paid Feb. 1 , 1889. A. & 0. J. A. F. J. J. & & & & & A. & F. & J. 0. A. J. J. 0. A. Mch. 1, 1916(9) Oct. Jan. Apr. Feb. July Jan. Apr. Feb. 1, 2, 1, 1, 1, 1, 1, 1, 191~ 18931893 1895 1906 1930 1894. 1916 tion of terminal charges ; but surplus rental over $350,000 yearly is divided equally with lessee. As to Mil. & Lake Winn ebago, s ~e t hat Co.. STOCKS.-The preferred stock (6 per cent cumulative) is $3,000,000; common stock, $12,000,000. BoNos.-The first mo1·tgage bonds of 1887 and (subject to these) the incomes cover all interest in th& lines which at the time of the making of the mortgage wer& operated in the Wisconsin Central system, whether owned or leased. They therefore cover all the securties of said companies held by the Wisconsin Central. There are also Penokee 1st 5s, due 1937, $30,000. Of the improvement bond.<; of 1891 the total authorized issue is $12,000,000, of which $7,000,000 to be issued forpresent use. The bonds are the joint and several obligations of the Wisconsin Central Co. and Railroad Co. and are furth er collater ally secured by purchase money first-lien upon all property bought with their proceeds. They have precedence in payment of interest over t he in· comes, no new mortgage can be put ahead of them, and if either company hereafter issues a new mortgage, the improvement bonds will beexchangeable for bonds thereby secured at par. Full statement concerninfi these bonds was in V. 53, p. 22. Also form of bonds, &c., V. 53,p. 7o7. On July 1, 1892, bills payable, exclusive of book accounts.were $500,478. LA o GRANT.-The Wisconsin Central Railroad had a land grant of 839,348 acres, of which on June 30, 1892, 579,550 acres remained unsold, and $98,948 land contracts were outstanding. LATEST EARNINGS.-From July 1 to Oct. 31, 1892 (4 months), net Northern Pacilio rental for the 672 miles covered by the Wisconsin Central securities was $504,479; income from securities, $134,817; other income, $4,512; total income, $643,809; total charges, $523,796; balance, surplus, $120,013 ; total surplus Oct. 31, 1892, $349,142. V. 55, p. 1079. ANNUAL REPORT.-Since the Wisconsin Central Company owns practically all the securities of the Wisconsin Central Ra.ilroad, t he entire earnings of both companies go into the Wisconsin Company's treasury, from them being paid the total charges of both comp a nies. Fiscal year ends Juue 30. Report for 1891-92 give n at length. ln CHRONICLE, V 55, p. 783, 805, 808, showed income as follows: INCOME ACCOUNT (EXCLUDING CHCC. & NOR. PAC.) Year ending June 301890-91. 1891-92. Total Northern Pacific rental. .. .......... ... . .•.....• $1,834,155, For Mil. & Lake w. and Ch. Wis. & Min.. . . ... . . ... . . 597,002. ---Rental to Wis. Cent. proper, 672 miles. $1,268,506 $1,237,153 Net interest on bonds .................... 719,543 649,913 Int. on debentures of leased lines....... . 34,740 35,370. Int., exchange and commissions......... 6,497 25,074 Engine and car rental.................... 259,408 287,166 Tracka~e rights. . ......................... 68,642 65,553 Genera1 expenses, etc......... . .......... 114,693 105,491 Net earnings...... $532,872 $669,716 $680,035 $649,128 In 1891-92 net earnings as alJove were $649,128; other income, interest. <tividends, etc., $138,489; W. C. & A. lease, $46,425; premium on securities sold, $79,100; total nt:t income, $913,142. Deduct interest on bonds, etc., $435,820; tax, s, $21,284; dividends, $200,000; balance, surplus, $256,037. (V. 53, p. 535; V. 55, p. 9 17 ). W i nona & Southwestern.-Road projected from Winona Minn., to Omaha, Neb., 375 miles; completed from Winona to beyond Osa ge, 117 miles. Has traffic agreement with Green Bay Winona & Bt. Paul. The Winona RR. Bridge, completed in August, 1891, connects these roads. Bee V. 52, p. 974. TrlL'>tee of mortgage (for $6,950,000) Farmers' Loan & Trust Company. There is also outstanding scrip in $500 pieoes; this scrip is convertible into first mortgage bonds, the bonds re,ierved to retire it being included in the amount out in the table Balance surplus for the year............. $64,983 $68,587 above. Stock authorized, $20,000,000; outstanding, $2,290,000, par Add surplus of previous yea.r... •. . . . . . .. . 95,559 160,542 $100. (Bee V. 51, p. 172; v. 52, p. 974; V. 53, p. 326.) . --Wisconsin Central Com.panf.:.- (SeeMap.J-Owns junction near 'Surplus June 3 o..................... .. $ l60,542 $229,129' St . Paul to Abbottsford, Wis., 157 miles; branch to Bessemer, 34 miles; Earnings of the "Wisconsin Central Lines" (ent ire system, etc.), as other branches to Eau Claire, &c., 12 miles; spurs, 44 miles. Leases reported by the Northern Pacific Company lessee, are shown in th& Chicago Wisconsin & Minnesota, Chicago to Schleisingerville, 112 miles, follo win11: table. The fl~ut·e1 here given indicate the growth or the and spur~ 11 miles; trackage to Chicago, Minneapolis, &c., 25 miles; Wis. Centra.l's business, but like the corresponding gross and net earntotal, 3~:J miles. Controls Wisconsin Central Railroad, owning from ings which the Northern Pacilio publisb.es from mouth to month t hey Menasha to Ashland, 253 miles; Stevens Point to Portage City, 71 include accounts entit'ely independent of the Wisconsin Central sysmiles; branches and spurs, 93 miles, and lea.sin~ Milwaukee & Lake tern, and hence are not a correct guide to the value of Wisconsin CenWinneba.go (which see), Neenah to Schlesingerville, 64 miles, spur 3 tral secul'ities. miles; Packwaukee to Montello, 8 miles; trackage, 1 mile. Total Wis1889-90. 1890-91. 1891-9 2. cousin Central Rail1·oad, 493 miles. Grand total, 888 miles. Of this Freight earnings .................. $3,437,205 $3,743,347 $4,018,823672 miles rt'present Wisconsin Central Company's stock:. Passenger............. ....... ...... 1,135,250 1,259,857 1,357,196 ORGANIZATION, ETc.-Organized June, l8 87 , to gather into a single Mail, express and miscellaneous. 207,889 242,510 167,945 corporation the Wisconsin Central Associated Lines. Nearly all these· $• 780 344 $5 245 714 $5 543 9 64.c curities of the Wisconsin Central Railroad are now owned, but for Total gross earmngs. · · · · · · · · · *• • , • , , legal reasons its separate corporate existence is maintained. • -(V.53, p. 22,127,674,752, '7 5'7, 834; V. 55, p. '783 , 8u5, 808, 1079.) LEASES.-A traffic contract with the Northern Pacific was on Worcester Nashua & Kochester.- Owns from Worcester to April 1, 1890, altered to a 99-year lease, under which the Northern Nashua and Nashua to Rochester, 94 miles. Consolidation 1883, ot· Pacific pays all operating expenses and taxes the Wisconsin Uo. Worcester & Nashua and Nashu~ & Rochester. furnishmg the equipment. As rental the Wisconsin Co. receives In October, 1885, a lease of this prol!erty f~r 50 years, from January 35 per cent of the gross earnings of that part of the road lying north of 1. 1, 1886, was made to the Boston & Mame Railroad Company at a r enthe junction with the Milwaukee & Lake Winnebago and 3712 per cent tal of $250,000 and taxes. The mortgage of 1879 secures equally on of the gross earnings of the Milwaukee & Lake Winnebago and the Chi- I the road from Worcester t(? Nas~ua the debentures of 1873 and 18751 ca.go Wisconsin & Minnesota. If operating expenses are less than 59 1 and all the other bonds, mcluding the Nashua & Rochester l81i per cent of gross earnings, the saving is to be divided between the lessor : mortgage bonds of 1874. _For. ~891-92 rental $250,000; net over and the lessee. The lessee assumes all operating contracts, but the Wis- 1 fixed charges, $157,486; paid dividen~ o_f 6 per cent, $183,861; deflolt consin Company pays all rentals accruing under uch contracts, ex- j charged to profi~ and loss, $26,378. D1v1dends: [n 18~1. 1_1.g; in 1885, aept the rentals due the Chicago & Northern Pacific and the Chicago 3 and 17 stock; m 1886, 3; from 1887 to Jan., 1893, both mclusive, at Milwaukee & St. Paul, which rentals are to be met by tile lessee. Once rate of 6 per cent yearly. (V. 52, p. 204.) 1n :five o~ ten years an alteration in the percentages is permitted by Zanesville & Ohio K lver.- Owns from Zanesville, 0., to Hararbitrati(?n.-(See V. 51, p. 71~.) . mar, on the Ohio River, opposite Marietta, about 80 miles, including The Chicago & Northern Pacific (which see) was leased on May 1, 1890, branches, 3 miles. In Aug., 1889, interest was defaulted. Foreclosure snit. for 99 years, the lea~o being then assumed by the Northern Pacific. 1T progress. See V. 50. p. 140. On July 19, 1892,J. Eiopper Sutterwa.sThe Chicago WiAc m ·in & Minnesota, from Schleisingerville to Chicago made receiver. Bee V. 55, p. 147. Current accounts June 30, 1891► & Northern Pacific t" minale in Cook County, lli., 122 miles, is leased in $262,593, In year ending June 30, 1891, gross earnings $151,251 ;. l)erpetuity. Rental is 3712 per cent of grosa earnings, less its propor- net.$29,221; taxes, $4,738; int. on bonds, $120,000. (V. 55, 147.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OF THE WISCONSIN CENTRAL COMPANIES 860~ MILES COMPRISING THE Wisconsin Central Railroad Company, t h u s - } . ~ 6 71 " Wisconsin Central Company, Mllwaukee and Lake Winnebago, 66 .!!! ~•~!."!'4 " Chicago, \Vlsconsin and Minnesota, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis •••••• J'.UIUARY, 18t3.] HH Ml OELLANEOUS STOCKS AND BONDS. fub8crlbers will cower a great favor by giving hnm.ediate notice of any error d18covered In these Tables. Bonds-Prln<Jt INTEREST OR DIVIDENDS. MISCELLANEOUS. Date Size, or pal, When Due. Amount Rate Per When Where Payable, and Par by Stocl;s-Last F er explanation of column h eadings, &c., see notes on of Outstanding Bonds Value. first page of tables. Dividend. Cent. Payable Whom. --- --- MISCELLANEOUS. $100 A dam,s Express-Stock ...................................... ...... 100 ..d. merican Bell Telephone-Stock ($20,000,000 authorized) . --·· Debentures, snbJect to call at 110 .................... c&r 1888 500 &c. 25 .A. men.can Coal (MarylandJ-Stock .... ..................... ...... 100 .A. 1nericanCotton mi-:-common stock (see V. 54, p. 761\. .. ..... Piefe1Ted stock ix per cent non-cumulative ... . ........ 100 Debentures for $5,000,000, sul.lject to call at 110,gold.c'" 1,000 100 .A. merican District Teleg.- tock, $4,000,000 authorized ... ..... .A.merican E~ess-Stock ... . .............................. . ..... 100 Fountain-Common stock ............... . .... 100 A me1·ican So First ~referred, 6 per cent cumulativ~ ................... ..... 100 Secon preferred, 8 per cent cumulative ................. ..... 100 American Su:f,a1· Refining-Common s_tock ................ ..... 100 P : ererred s ock, 7 per cent cumulative .................. .... 100 1st mort!af.e for $10,000,000 ............................ .... 1,000 100 .A merican e. ti: Gable- tock, guar. 5 p.c. by West. Union .... .A.merican Tobacco Co.-Common tock ............ . ........ .... . 50 Preferred stock, 8 per cent non-cumulative . . . .......... .... 100 American Type FO'lmders-Common stork . .. . ............. . . .. 100 Preferred stock, 8 per cent, ctunulath-e ... . . ... . .. . ...... ··· 100 $12,000,000 8 per an. Q.-M. New York, 59 Broadw'y 17,500,000 See text. Q.-J. Boston, Comp'y's Office. F. & A. 2,000,000 7 do do 1,500,000 6 per an. M.& S. N. Y., Office, 1 B'dway. 20,237,100 10,198,600 Sec.text. J ...&..D. N. Y., Wlnsiow·, ·L. & Co. 8 g. Q.-F. 3,790,000 do do 3,825,000 See text. N. Y., Office, 8 Dey St. 18,000,000 6 per an . .T. & J. N.Y.,Co.'s Of., 65 B'way 1,250,000 10 Annual. Company's Office. 1,250,000 6 per an. F. & A. do do 1,250,000 8 per an. F. & A . do do See text. Q.-J. N. Y.Office,117WallSt. 36,773,000 36,773,000 7 per an . Q.-J. do do J. & J . N. Y., Central Trust Co. Nil,Dec.1 '92 6 14,000,000 5 per an. Q.-M. N. Y., West. Union Tel. 17,900,000 See text. Q.-F . N. Y., Farm. L. & Tr. Co. 11,935,000 8 per an. Q.-F. do do 5,000,000 ..... .... 4,000,000 8 per an. Quar. N.Y.,G11ai-: &Ind.em. Co . isoo Dee. 1 1892 Jan. 16,1892 Aug. 1, 1898 Sept. 10, 1892 ·c Dec:· "i892 Nov. 1, 1900 Nov.15, 1892 Jan. 3, 1893 Feb. 4, 1893 Aug. 4, 1893 Aug. 4, 1893 ,Tan. 3, 1893 Jan. 3, 1893 Jan., 1911 Dec. 1, 1892 Feb. 1, 1893 Feb. 1, 1893 ·New:· I I AdaJDS Express.-No reports. .-l.merlcan Bell Telephone co.-Dividends-In 1881, 6 per -cent• in 1882 11 • in 1883 12 • in 1884 15 • from 1885 to 1887 inclusive, '16; in 1'888: 18; in i889, 18 ; in' 1890, 18; in 1891, 18 p. c.; in 1892 Jan. 3 p. c. Aln'il 3; JnJy 3 and 3 extra; October 3· 1n 1893 Jan.: 3 pc.' and 3 exti a.' ' ' ' ' In Ma, 1892, the stockholders voted to is ue $2,500,000 new stock, -one shar~ at par to each holder of six shares ma.kincr $17,500,000 outstanding. On Jan. 1, 1892, the company had 512,407 instruments in use in hands of licensees, and 266,456 miles of wire, against 483,790 instruments and 240,412 miles of wire in January, 1891. ANN UAL REPORT.-Report for 1891 was in CHRONICLE, v. 54, p. 559. 1888. 1889. 1890. 1891. Total gross earnings ..... $3.865,119 $4,044,704 $4,375,291 $4,736,007 Net earninO's... .. . ... . . . . 2,414,206 2,658,738 2,869,418 3,126,820 Total net income......... 2,436,464 2,661,888 2,869,418 3,126.820 Paid dividends........... 1,192,152 1,238,913 1,463,913 1,725,000 Extra dividends.......... 597,726 600,000 750,"P 900,000 Depreciation reserve..... 646,586 700,000 655,505 501,820 . ____ ____ ____ ____ Total.................. 2,436,464 2,538,913 2,869,418 3,126,820 -(V. 50, p. 449,589; v. 52, p. 121; 532; v. 54, p. 443, 559.) Am.erican Coal.-There are mortgage bo nds for $ 2 00,000. The annual statement for 1889 in V. 50, p. 275, gave the following informa tion: Income, 1889, $760,802; total expenses and interest to March. 1890, $651,853; balance, $108,948, against $103,034 in 1888; divi dends (6 per cent), $90,000; surplus, $18,948. Dividends 6 p. c. yearly • American Cotton Oll.-ORGANIZATION.-Incorporated Oct. 12, 1889, under the laws of New Jersey, to succeed the American Cotton Oil Trust, of which it was a reorganization. Owns the following properties, all of which are free from mortgage lien: 70 crude oil mills, 14 refineries, 4 lard plant , 9 soap factories, 15 cotton ginneries, 4. cotton compressors and8 fertilizer factories; in all124properties,of which 34 were not active on Aug. 31, 1892. See V. 55, p. 767. STOCK AND BONDS.--Pref. stock is 6 p. ct., non-oumulative, and is subject to call at any time at 105. Preferred stock for $4,363,700 and additional to the amount given in the table above as outstanding is in the oompany's treasury, and enough thereof must be held to exchange at par for the debentures, which are subject to call at 110, on two months' notice. No mortgage lien can be placed upon the property without the written con ent of the holders of 80 per cent of these debentures. Under the plan for the gradual retirement of the debenture $210,000 were drawn and canceled August 1, 1892. See plan in vbonds, · 55, p. 766 · DIVIDENDS.-Semi-annual dividends upon the preferred stock at the rate of 6 per cent per annum were paid in June and December, 1892. PRICE OF STOCK.-Common stock in 1891, 15 7s1v35¾!; in 1892, 3212W 477s; in 1893, to Jan. 20, inclusive, 42¾!'€v473s. Price of preferred 1n 1891, 33lg@65; in 1892, 6312W86 7s; in 1893, to Jan: 20, inclusive, 821l! 8314. ANNUAL REPORT.-Fiscal year ends August 31. Annual meeting of stockholders on the first Thursday of November. The last repon; was published in full in the CHRONICLE of Nov. 5, 1892 (V. 55, p. 766), showIng value of property Aug. 31, 1892, as follo_ws: Appraised value of r~al estate, m11,ohinery, &c., ii;9,567,531; cash m banks, $2,165,553; bills and accounts reoeivable,$1,539,245; m~rketableproducts and supplies on hand, $3,408,541: total valuation, $7,113,338. See also p. 746. For the year ending Aug. 31, 1892, the profits of the whole busine s Were $2,527,699, less expenses of administration, interest on bonds, &o., $673,725; balance, net income, $1,853,973. The pro.fl.ts from all the properties, exclusive of interest charges and general office expenses have been as follows since 1886: Year ending May 31, 1887, $2,448,225; year ending May 31, 1888, $2,459,152; fifteen months t,o Aug. 31, 1889, $1,835,795; year 1889-90, $129,979; year 1890-91, $1,902,181; year 1891-92, $ 2 ,527,699. DIRECTORS.-Edward D. Adams, John R. Bartlett, T. R. Chaney, W. A. C. Ewen, James A. Garland, Charles Lanier, Maler Lehman. Alfred B. Mason, George A. Morrison, R. T. Wilson, all of New York City; Jules Aldige, New Orleans, La.; N. K. Fairbank, Chicago, lli.; M. Frank, Atlanta, Ga.; G. A. Hobart, Paterson, N. J.; E. Urquhart, Little Rock, Ark. Chairman of the Board of Directors, Ed ward D. Adams, President, John R. Bartlett; Secretary and Auditor, Robert E. Munro; Treai!urer, Justus E. Ralph. Office, 29 Broadway, N. Y. (V. 53, p. 639, 673,676; v. 54, p. 761,923; V. 55, p. 746, 166.) American District T~legraph.-In January, 1892 , this company yurchased the entire stock, property and franchises of the Mutual Distr10t Telegrapl1 and Mutual District Messenger companies. Its authorized capital is $4,000,000. '.rhe companies now united had about 33,000 instruments in operation in 1890, and their net earnings in tl1at year were $104,028. Stock listed in February, 1892. DIVIDENDS-In 1891, August, 1; in 1892, August, 114; November, 114. EARNINGS-In 1891, gross, $516,708; net, $45,287; dividends (2 per cent), $51,000. (V · 5 4 , p. 3 3 , S66.) AJDerlcan Express.-Dividends of 6 per cent yearly have beoo paid since 1882. AJDerlcan ~oda :Fountain Co.-Formed in 1891 under laws of New Jerser to take over and carry on the business of manufacturing soda water apparatus and supplies, as hitherto conducted by the following es,ablishments: John Matthews, New York; A. D. Puffer & Sons Manufacturing Co., Boston; James W. Tufts, Boston, and Charles Lip, pineott & Co., Philadelphia. Dividends on preferred stock have been paid in full up to date. On common stock 10 per cent was paid in February, 1892 ~n_d 1893. Total sales in year 1891 were &,3,171,314 net, $410,~69; dividends, $330,000; balance. $110,469. (V. 54, p. 396.J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I American Sugar Retinlng.-This new Jersey corporation became i_n January, 1891, the o~er of all the property theretofore belongmg to the Sugar Refineries Company, or so-called Sugar T1·ust. It has purchase_d th_e capital stock of the four Philadelphia refl~eries and a _contr~lling 1~terest in the Baltimore refinery. Spreckels s refinery m Cali:1'orma 1s now,}mder a_lease f~~ ten r,ears to the "Western Sugar Refinmg Company, of which the trust owns one-half the stock. Claus Spreckels and A. B. Spreckel are officera of the Western Company, and own the other half of the s~ck. . I~ January, 1893, Mr. Searle i;-ave a ltst of the refi1?,eries in the Umted States_ not controlled bf tne Sugar Trm,t and with which t~e trust J:tas no frrnndly understanding. They are: Revere, of ~oston, d~ily capacity, 1,000 barrels; ~enderson, of New Orleans, daily capacity 300 ~o 400 barrels; Cunmng1Jam, n_ear G~lveston,_Texas, about same; Mullme3:ux, of Br:ooklyn, whrnh clarms daily capacity of 2,000 barrels. The. daily capacity of refi?-eries operated or controlled by the Sugar Reflnmg Co , Mi:, Searles s~1d, was ab?ut 40,000 barrels a day. See full statement a. to_1ts prop~rties o-wned lll V. 56, p. 126. . As to proceedmgs agamst the company under the Sherman Anti-Trust Law (see V. 54, p. 762.) see V. 54,p. 761; V. 55, p. 177 and V, 56, p, 126. STOClL-Stock authorized is $75,000,000 (half preferred), of which on Deo. 1, 1892, $727,000 common and same amount preferred was in Treasury. In 1892 $23,546,000, half each common and preferred, was issued for the purchaso or the Philadelphia refinerie , and a large proportion of the capital stock of the Baltimore ugar Co. A..~NUAL REPORT.-Fiscal year ends Nov. 30. The last report, whioh was for 11 months ending Nov. 30, 1892, was in V. 56, p. 79, and statecl that "the net earnings of the company for the eleven month!', according to the books, ha,e been $8,615,837, from which amotmt semi-annual dividends of 4 pei· cent on the common stock and 312 per cent on the preferrecl were paid in July, and a quarterly dividend or 2.1g per cent on the common stock on Oct. 1, leavii,g a surplus of net earnings to Dec. 1 of $'1,938,537, from which, however, is to be deducted the dividend paid on Jan. 3 of $2,206,380, whioh would leave a surplus of earnings for the eleven m :rnths of $2,732,157.'' There was brought over from the year 1891 a surplus of $1,637,· 822, which, with the addition of 1892, makes the total surplus as of Dec. 1, after deducting the dividends of Jan. 3, $'1,369,980. No dividends were declared by companies whose stock this company holds. BALANCE SHEET DEC. 1, 1892. 1 ·1 Assets. R fin · , 1 t <11 n 250 000 e eries P an · · · · · •·v • 1 , 271 ',992 Cash ..... ··············· Demand loans...... ... 7,186,500 Sugar,rawandrefined. 7,297,770 Safes account.......... 4,609,528 Boneblack & sunclries. 1,584,040 Additionnal property. 1,547,240 Refinery impmt. acct.. 2,533,969 Investment account .. 23,546,000 Trea ury stock........ 636,870 Stk. in othercorpor'ns. 2,438,160 Loan accounts, etc.... 1,257,455 IM I -----1 Liabilities. t or gages.············ Loans ·············· Unpaid.... bills .......... . Letter of credit acct.. . Open account ........ . Unpaid dividends ... . Sugar Refineries Co .. . Sales of real estate and materials............ Capital ...........•.... Surplus................ $180,000 7,458,946 1,813,390 3,896,449 511,336 1,812 811,363 363,803 73,546,000 6,576,360 Total assets ......... $95,159,462 Total liabilities ...•.. $95,159,462 DIVIDENDS.-Dividends since reorganization: On preferred stock in. full to date; in January, 1893, dividends changed to quarterly. On common, in 1891, July, 4 per cent; m 1892, Jan., 4; July, 4; October, (d. ·d d h d to te 1 ) 2 ,_ · 1893 J 2't ( ) ivt n s c ange quar r Y , ~; lil , an., ~ per cen quar. PRICE OF 8TOCK.-Common stock in 1892, 7812'€vll53s; in 1893, to January 20, inclusive, 1113s1l!12612. Preferred in 1892, 901l!1073s; in 1893 to Jan. 20 inclusive, 99141.H0412. DIRECTORS.-H. o. Havemeyer, T. A. Ha.vemeyer, F. o. Matthiesen, Geo. c. Magoun, J. E. Searles, Jr., Wm. Dick, J. B. Thomas. OFFICERS.-President, H. o. Havemeyer; Secretary and Treasurer, John E. Searles, Jr., New York office, 117 Wall Street. (V. 53. p. 156; V. 54, p. 119, 202,469,525, 761; V. 55, p. 177; V. 56, p. '79, 126.) American Telegraph & Cable Com.pany.-Owns two oa.bles between Sannon Cove, England, and Dover Bay, Nova Sootia. Cables leased to Western Union till 1932, with a guaranty of 5 per cent per an-n.um on the stock issued-$14,000,000. American Tobacco Com.pany.-This company was organized in 1890 under the laws of the State of New Jersey, for the purpose of bur• ing, manufacturing and selling tobacco in all its forms. It 1s the owner of the real estate, tobacco factories, patents, &c., formerly belonging to Allen & Ginter, W. Duke Sons & Co., The Kinney Tobacco Company, Williams. Kimball & co. and Goodwin & co., etc. Its assets on Jan. 1, 1892, were valued at $32,330,394. In 1891 were purchased the tobacco f t · f h M b B h d G w G il & A f B 1t· ac ones o t e ar urg rot ers an . . a x, o a of the National Tobacco Works of Louisville and P. Whitlock & 1more1 Co. or Richmond. To pay for these properties and to provide for future needs, the stockholders on July 14, 1891, voted to increase the oommon stock to $21,000,000 (par $50) and the preferred stock to $14,000,000. See V. 53, p. 21. On Jan. 1, 1892, there was still in the company's treasury $2,065,000 preferred and $3,100,000 common stock. l'rererred stocJr listed in September, 1890. See application in V. 51, p. 319. DIVIDENDS: On common stock for 189112 per cent was paid; in 1892, November, 6 per cent; in 1893, February, 3 per cent (quar.) EARNINGS.-In year 1891 net sufficed to pay 8 per cent on the pref'd stock then outstanding and 12 on common, leaving a sur. of $1,29::J,994. DIRECTOR .-Lewis Ginter, John Pope, George Arents, James B. Duke, Benjamin N. Duke, George W. Watts, Francis S. Kinney, W. H. Butler, Charles G. Emory, W. S. Kimball, William A. M:1rburg, Geo. W. Gail. Pres., James B. Duke; Sec., Wm. H. Butler; Treas., Geo. Arents. N. Y. office, 45 Broadway (V. 52, p. 6U; V 53, p. 21; V. 5.t, p. 48 5,) INVESTORS' SUPPLEMENT. (VOL. LVIr sub•crlber• will cooCer a great Cavor by giving luunedlate notice oC any error discovered In these Tables. MISCELLANEOUS. INTEREST OR DIVIDENDS. Bond-s- Prinol-----=---:-:----::,---.-------.::-:-:--=---::-::--o"":--::-:--:-::-~::-::---=-=l Date Size,or Amount pal,WehnDue. For explanation of column headings, &c., see notes on of Par Outstanding Rate Per When Where Payable, and by Stocks-Last first page of tables. Bonds Value. Cent. ---P::i,yable Whom. Dividend. _______ --- _______ , Brooklyn Traction~Common stock.:...................... Preferred stock, 6 p. c. cum., sub. to call at 110 and int. . .. . . .. . a!~~c;f:·rrii.Ni-"issii-e. coAL ·&r: inoN."~................ isgi Brunswick Oompany-Stock ............................... . $6,000,000 3,000,000 5,000,000 128,000 $100 100 100 l,000 100 . ... 100 ... . Construction certificates to be converted into stock ..... iS92 Ohesapea1re d! Delawar~ Oanp,l-lstM.(extended in 1886)r 1886 500 &c. 1,000 (Jhicago & A.tchisonB1-idge-15:t M. for $1~000,0(_)0, gold .. c 1885 100 Chicago Gas-Trust Co.'s receipts of eqmtable mterest... , .... 500 500 1,000 Equitable Gas Light & Fuel 1st mortgage ............. c* 1885 1,000 Consumers' Gas 1st mortgage, gold ..................... c 1886 1,000 -,. Chicago Gas Light & Coke 1st mortgage, ~old ......... c 1887 100 Ohicago Junction Railways d'; Union Stock Ya1·ds-Stock.. . .. . Preferred, 6 per cent cumulative......................... . .. . 100 1,000 Collateral trust bonds, gold,$ or£ .................... c* 1890 Income bonds, 5 per cent, non·cum. (See remarks)...... 1892 1,000 100 Citizens' Gas Light of B1·ookly111-Stock for $2,000.000.... . .. . 1,000 Citizens' Gas Light lstM.bcls.,sub.to call aft.Apr.1,'95.c 1885 1,000 Com1ol. mortgage for $750,000, gold ................. c* 1890 1,000 Union Gas Light Co. 1st mortgage bonds ................ 1889 1,000 Oityc~~g~;:l;;~ri~;!81'.s1°~~$3;000,000:. i~~~ 1,000 Oanton Oompany-Stock,................ ................... Oentral cf South American Telegraph-Stock $8,000,000 .. pit~~~!~~~~~~.~.?..~~~.~~~-~~~~~~!~:.!~:~:::::::::~ coiisoi: rn~t goici _.:: _.c* American Type Founders.-ORGANIZATION, &c.-Incorporated in 1892 under laws of New Jersey to acquire and carry on the business of twenty•three companies and firms, manufacturing and selling about 85 per cent, it is said, of the entire output or type in the United States. Nearly all have been long established and, it is claimed, uniformly prosperous. Total assets (exclusive of good will) inventoried at $6,· 115,128. See aavertisement CHRONICLE of Oct. 15, 1892. STOCK.,.-The preferred stock is entitled to an 8 per cent dividend. cumulative, and ,payable quarterly; is a prior lien on tne property and assets, and is entitled to two vot;Ps for each share, as against one vote :for each share of common stock. No bonds are to be ii,sued. EARNINGR-Expert accountants report the average annual net profits for the last three years to be $659,496, the lowest for any one year bein_g $607,495. Expenses during the last three years have been ex• cess1ve, and there has been cuttinp; in prices. (V. 55, p. 625, 638.) DIRECTORS.-Robert Allison (President), .Andrew Hickenlooper, G . Frederick Jordan, John Marder, Wm. B. MacKellar (Vice President), John J. Palmer, J. W. Phinney, Cortland Parker,jr. Also two will be nominees of the New York Guaranty & Indemnity ,Company. OfficeSee N. Y. Guaranty & Indemnity Co. . Brooklyn Traction.-Organized in 1892 and purchased the stock of the .Atlantic .Avenue Street RR. Co. of Brooklyn at $125 per $5-0 share. The road will be operated with electricity. The Brooklyn Bath & West End RR. (see Railroads) has been bought in sameinterest. This is not the company which controls the Brooklyn City road: for that company. see Long Island Traction Co. The securities of the .Atlantic .Avenue Company are described at the baclr of this SUPPLEl\lENT in table of New York & Brooklyn street railroads. See also earnings. etc. in v. 55, p. 468, 856. Bruns"'1ck Company.-Owns real estate and water front in the oity of Brunswick_, Ga. Central & S?uth A.meric~n Tel~graph.-<;>wns cable line from Vera Cruz, MeXIco, to Valparaiso, Chili, 4,750 miles, and land lines 350 miles, etc. Also the Trans•.A.ndine telegraph lines, 1,200 miles, purchased in 1891, and connecting Valparai o with Buenos .Ayres. Connects at Vera Cruz with Mexican Telegraph Company, and owns an interest in the direct cable between Galveston and Coatzacoalcos, 825 miles, etc. In June, 1892, $1,500,000 construction certificates, convertible into stock, were sold at par to stockholders, to meet the expense of duplicating the cable between Salina Cruz, Mexico, and Chorillas, Peru. These certificates are to be converted into stock within three years after the completion of the work. See V. 54, p. 1047. Increase of stock to $8,0v0,000 was authorized Jan. 18, 1893. DIVIDENDS.-In 1885 and 1886, 4 per cent; in 1887, 6 per cent; from 1888 to January, 1893, both inclusive, at rate of 7 p. c. per annum, payable quarterly; in March, 1890, a stock dividend of 20 per cent was paid for surplus earnings invested in plant. EARNINGS.-For 3 months end.in~ Dec. 31, 1892, gross earnings were about $~32,'~34; net, $160,734; dividend, $110,390; balance, 1<urplus. $50,344. Ottice, 37 Wall St., New York.-(V. 53, p. 880; V. 54, p. 1047; V. 55, p. 1077~ V. 56, p. 127.) Chicago & Atchison Brid!re Co.-Owns and operates a railway and highway toll bridge across tne Missouri River at .Atchison, Kansas used by the Chicago Rook Island & Pacific, Hannibal & St. Joseph, Kan: sas City & Council Bluffs, Missouri Paci.fie and.Atchison Toreka & Santa Fe railway companies. In 1889 gross earnings, $122,817; fixed charges and expenses, $100,246 ; surplus, $22,570. In 1890 gross, $118,429; fixed charges and expenses, $94,933 ; surplus, $23,495. Chicago Gas.-_HI~TO_R Y.-The Chicag~ Gas Trust Company was incorporated in Illinois m 1887 to acqmre gas properties in Clu cago. In April, 1890 its name was changed to the ChiJago Gas Com pany, and in .April, 1891, the stockholders deemed it expedient to surrender their charter to the State, the courts of Illinois having decided that the holding of stocks in constituent companies was illegal. The Fidelity Insurance Trust & Safe Deposit of Philadelphia, which held in trust all the securities belonging to the old company then upon request therefor, issued to the holders of Chicago Gas certificates trust receipts for an_ ~quita]?le inter~st in the securities so held'. See V. 53, p. 21. Dividend mcreased to 112 p. in December, 181:12. TRUST RECEIPTS.-These represent all the property that the Chicago Gas certificates represented, and certify that the holder is entitled to his ratable proportion of the ownership in all the stocks held by the Fidelity Company (sub.Ject to the lien of the bonds), and has the right to receive the dividends thereon and to vote the same as he may choo e. DEALINGS WITH CITY.-In June, 1891, a settlement was reached by the several companies on the basis of the city getting 312 per cent of the gross receipts, or at least $150,000 per annum, and paying $1 per 1,000 feet f or its gas-the price of gas to other consumers to remain at $1 25 until 1893, when a reduction of 5 cents in the price sllould be made each year following until $1 has been reached. See V. 52, p. 939. .As to the Economic Fuel Company see V. 54, ~•- 3t6, 40fl , 7!:l!J. SECURITIES OWNED.-Company owned $14,887,625 of the $14 984 200 stock of the companies whose bonds are o-ivon in the table a,b~ve 'and this stock was deposited in trust for the benefit and security of the shareholders of the Chicago Gas Trust Company, and for the security of the ho~ders of the mortgage bond~ that were th~n, or might there• after, be 1si;med by any of said compallles. Through its interest in said companies the company also controlled all but $15,800 of the $1,750 ooo stock of four smaller companies, three of which have outstanding the following bonds: Lake Gas Company, $300,000 1st mortgage 6s; Hyde Park Gas Co., $200,000 1st mortgage 6s; and Illinois Light Heat & Power Co., $200,000 1st 7s ; guaranooed by the Peoples' co. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3,431,500 6,500,000 1,500,000 2,602,950 924, 00 24,885,800 2,100,000 2,500,000 2,000,000 4,032,000 8,908,000 6,500,000 6,500,000 10,000,000 3,000,000 1,750,000 250,000 500,000 250,000 250,000 1,360,000 :::::: J."·&-·J. :::::::::: ....... . 114 . . ... Company's Office. Feb: ·25: "i890 6 g. J. & D. N.Y., Knickerbocker Tr Dec. 1, 1896 7 per·an. Q~~j. 5 5 6 g. See text. 6 g. 6 g. 6 g. 5 g. 5 g. See text. 6 per an. 5 g. 5 F . & A. J. & J. J. & J. Quar'ly. M. & N. J. & D. J. & J. J. & D. J. & J. J. & J. J. & J. .J. & J. J. & D. 5 A. & 5 g. F. & 6 J. & 5 g. J. & 5 g. J. & N. Y., ciffiC8;37Wa11st. JaD:1o;·is93 do do Phila.,Of.,528Walnut8t N. Y., W. & J. O'Brien. Phila., Fidel. Insur. Co. N.Y .. Cent. Tr.& Lond'n. do do N.Y.,Cent.Tr.&Chic.Of. Chicago, UnionNat.Bk. N. Y., Central Trust Co. N. Y., Office, 45 B'way. do do N.Y., Cent. Tr.; London. N.Y. Of.-When earned. conv. into stk• July 1, 1916 Jan. 1, 1915 Dec. 22, 1892 Nov. 1, 1904 Dec. 1, 1904 July 1, 1905Dec. 1, 193'6 July 1, 1937 Jan. 5, 1893 Jan. 5, 189~ July 1, 1915 July 1, 190'7" Company·•s· Office. Ap. ·i,·•95:i9050. .A. N. Y., Central Tr. Co. Feb. 1, 1940, J. do do July 1, 1905, J. do do Jan. 1, 1920 D. Baltimore. June 1, 1992 Bo~ns.-See application in tun to New York Stock Exchange in CHRONICLE, V. 47, p. 746. The guaranty of the Gas Trust Co. on the; bonds has lapsed, the guarantor having ceased to exist. DI':IDENDS.-In 1889, 4 per cent; in 1890, 3; in 1891, Sept., 114; Dec.,. 114; m 1892,IMarch, 114; June, 114; Sept., 114; Dec., 112. PRICE OF 8TOCK-In1888, 29¾,"@44; in 1889,34"@62; in1890321i>65; ln 1891, 34 'a> 71¾; in 1892, 71~11>99:ls; in 1893 to Jan. 20 inclusive .. 85 7 s'1z>Q3~. E~Gs, ETC.-A, circular issued in December, 1891, by Messrs. Benedwt and others m New York gave a full statement re~arding the: company, and was g_uoted in the CHRONICLE of Dec. 19, V. 5·3, p. 921. Tl!e earn~gs for_ the past two years have been as follows, according to circular issued m January, 1892, by Messrs. Benedict. The amount expended for new construction in 1891 was $955,591. Net Earnings. 1890 ............................ $2,389,709 1891.............. .. . .... .... ... 2,787,835 Interest.. Surplits. $1,035,100 1,044,250 $1,354,609 1,743,585- Increase (after deducting $150,000 paid the city) ... . The aggregate amount of bonds outstanding is .......... . Less bonds on hand ....................... . ................ . $388,976, 19,782,000 413,000 Total bonds............................................. $19,~69,000 Amount of Fidelity receipts outstanding .... $25,000,000 Less amount canceled. ....................... 114,200 $24,885,800 New York Office, Exchange Place. -(V. 53, p. 59, 921, 753,880; V. 54, p. 366, 405, 443, 485, 799.) Chicago Junction Kaihvays & lJnion .. tock Yards.-ORGANIZATION.-This JOmpany, incorporated in 1890 under the laws of New Jersey, ~as purchased 98 J?er cent o! the stock of the Union Stock Yard & Transit Company of Chicago, which latter company owns the entire, stock of the Chicago & Indiana State Line Railroad Company. The property thus controlled is situated in Chicago, and consists of 470, acres of land (with one mile of water front) containing warehouses,. sheds and pens (to accommodate 25,000 head of cattle, 160,000 hogs-,. dtc.); also 130 miles of steel·tracked railway, connecting with all the railroads entering the city. See adv. in CHRONICLE July 19, 1890, and, V. 52, p. 203. .AGRNEMENT WITH PACKERS.-Under a fl.fteen•year agreement dating fro~ July 11 1891, the Chicago _pack~rs, Messrs . .Armour, Morris and ~wift, aJ?.d others, guarantee to give this co~pany the business of pack• mg all live stock slaughtered by them W1thin 200 miles of Chicago. All this stock passes through the Chicago company's yards, and: pays the usual charges, which shall amount in the next six years to a least $2,000,000. See V. 54, p. 328, 923; v. 55, p. 99, 297. In July, 1892, a flve•year contract was made with the remaining: packers, the so·called Stickney packers. See v. 55, p. 99. CAPITAL STOCK.-The common stock authorized is $6,500,000; preferred, $6,5001000. The preferred stock is 6 per cent (cumulative), and. in case of liqmdation will have priority over common as to all assets. DIVIDENDS.-On preferred, 6 per cent yearly to date. On common ,. in 189110; in 1892, January, 4; July, 4; in 1893, January, 4. BoNDs.-The collateral trust bonds are secured by deposit with th& Central Trust Com_pany, trustee, of over 90 per cent ot the stock of th~ pnion Stock Yard Transit Company. The $3,000,000 income bonru,. issued to the packers are 5 per cent non•cumulative incomes, carrying; interest after .Pl:\yment of interest on the collateral trust l.londs and the 6 per cent dividend on the preferred stock; when earnings sufficeafter payment of prior charges as aforesaid, the company will set aside$200,000 yearly for their interest and sinking fund, the incomes being; subject to call at par. See V. 54, p. 328. .ANNuAL REPORT.-Fiscal year ends June 30. Annual meeting in Jersey City first Thursday in July. Report for 1891-92 V. 55, p. 99. This company owns 129,910 shares of the capital Rtock of the Uniolb Stock Yard & Transit Company of Chicago, purchased at a cost of $22 611,424. The gross and net earningR of that company during thethreeyears ending June 30, 1892 (estimating June, 1892), were as follows: Gross Earnings. Net Earnings_ ~ear end!ng June 30, 1890 .................. $2,668,386 $1,717,80@\: ear endmg June 30, 1891.................. 2,863,633 1,800,458Year ending June 30, 1892............ ...... 2,947,455 1,829,420, '£he profits of the C. J. R. & U.S. Y. Co. have bee11 as follows: 1890·91. 1891-92Dividends of U. 8. Y. Co., int. on deposits, &c .. $1,713,473 $1,706,440. Taxes, ordinary and extraordinary expenses, legal, salaries, rents, &c.... ... . ... ... . ..... .... 164,705 167,247 Interest on bonds................................. 500,000 500,000 • Dividends.......................................... 988,117 889,204Tota.l payments ........ . ............•......... $1,652,822 $1,556,451 Balance, surplus.................................. $60,651 $149,989 • DIRECTORS.-Chauncey M. Depew (Chairman), John Quincy .Adams (Pre ident), Edward J. Phelps, of Burlington, V11.; W. J. Sewell, Cam• den, N. J .; F. H. Prince, Bo ton; Fred H. Wmston and Albert H. Veeder E. J. Martyn of Chica~o, Hugh C. Childers and Adolph Von Andre. of London, England. OFFICERS. - President, John Quincy .Adams; VicePresident, Wm. J. Sewell; Secretary, William C. Lane; Treasurer, Thoma Sturgis. New York office, No. 45 Broadway.-(V. 53, p. 21, 125, 186,. 435, 968; v. 54, p. 328, 405, 923; v. 55, p. 58, 99. 297.) • ·t •ize us' Gas Light (Brooklyn . )-Stock listed on New York. Stook Exchange in May, 1892. The official statement to the Exchang waR given in full in V. 54, p. 888. On .April 1, 1892, number of meters-in use.z. 6,931; street lamps, 1,386; miles of street mains, 7613. Presi--dent, ,:;. .A. Lathrop. .. ~. M • • •~ - MAP SHOWING. TERRITORY AND PRINCIPAL l'rlARKETS SUPPLIED WITH COAL AND COKE BY COLORADO FUEL COMPANY --- ------- ~i----- --·-;·---i-: : t : I : I s: I I rf1 A z0 If> 0 G A R CQ A z ~ C1;J ~ 0 0 ~ r::11 r::11 p 0 ~ z<q T j ~ 0 rJJ. H ~ :\{AP LOCATION OF COAL PROPERTIES OWNED & CONTROLLED BY rrHE COLORADO FUEL COMP ANY https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis lnclicated by * >- m VESTORS' SUPPLEMENT. [VoL. L , l Subscribers ,vill confer a great favor by giving immediate notice of any error discovered in these Tabies. L~TEREST OR DIVIDENDS. Bonds-Princt MISCELLANEOUS. Date Size, or Amount pal,When Due Par For explanation of column headings, &c., see notes on of Outstanding Rate per Wben Where payable, and by Stocks-Last Bonds Value. first page of tables. Cent. Payable Whom. Dividend. Olaftin (H.B.) Company-Common stock ..... . ........... . 1st pref. 5 per cent, cumulative .. 5pref. as to princi- < 2d pref. 6 per cent, cumulative .... 1. pal and dividends. S Colorado Coal cf: Iron Developmeut-Stock ................ . 1st mortgage, gold, guar., redeemable at 105 ....... c*&r Collateral trust bones, gold, secured by land notes .... . Colorado Fuel rt I1·on-Common stock, $11,000,000 ...... . Preferred stock, 8 per cent ............ . ................. . Col. Coal & Iron 1st consol M., gold, s. f., not drawn .. c .. Colorado Fuel Co's gen. mort. , gold, s. f. red. at 110 .. c~ Denver Fuel land notes .................. . . __ .... __ ..... _. Col. Fuel & Iron consol. mortgage for $6,000,000 ...... . Grand River Coal & Coke 1st mortgage, gold, see text.c* Oulumbi1,SclHock. Coal cl Iron Co.-Stock, $190,000 is pref. 1st M., g. (13,351 acres land, mines, &c., s. f., not dr'n.c* Oommennal Cable-Stock ($10,000,000) ....... ............ . Debentures payable £40,000 to £120,000 per annum .. Oomstock Tunnel- Income, non-cum. ($3,000,000) ,gold.c* Consolidated Electric Light-Stock ... ..................... . Debenture bonds, sinking fund .......................... c Consolidation Coal of Maryland-Stock .... ............... . 1st mort., consolidated, convertible into stock at par .. c Consolidated Gas (N. Y.J-Stock .......................... .. Knickerbocker Gaslight, 1st mortgage, sinking fund.c* Metropolitan Gaslight Co., 1st mortgage .............. c' Debentures ............................................... r Consol. Kan. City Smelt' g cf: Rejln'g-Stook. ... ___ ..... . .. . ---· - - $100 ---100 ---..... 100 100 ---1889 1,000 1892 ---isso 1889 ---- 1892 1889 .... 100 100 1,000 1,000 ---- 1:000 100 1,000 100 T?tal fixed c:J:iarges ..............._. ....................... $414,640 oo Earnmgs on basis of present operations .................... 1,200,000 00 8tµ"P.lus .••....•.....•.....•.•.•..•....•...........••...•... $785,360 00 Requisite for 8 per ct: dividend on $9,250,000 com. stock. 740,000 00 Surplus.................................................... $45,360 00 1 tt D · Sull' D IRECTORS.-J 0 h n c· os~od ' H enry R · .... no co • enms tvan, John L. Jerome, Charles . Toll, William H. James, J . .A. Kebler, of Denver; Paul Morton, of Chicap:o; E. J. Berwind, C. F. Meek, E. K. McHarg, Ernest Thalmann, of New York; W. H. Graham, of Pueblo. J.C. Osgood, President. Office. 18 Broadway, New York. -(V. 53, p. 257, 435; V. 54, p. 202, 559,643; V. 55, p. 22, 100, 145, 177, 331, 373, 639, 678, 679, 894, 1036, 1040. Columbus & Hocking Coal & Iron Company .-Organized at Columbus, 0., January 26, 1883, and owns large coal and iron properties, with extensive works thereon1 in Ohio, a full description of which was published in the CHRONICLE 01 Febru~ry 26, 1887, v. 44, p. 278. The Central Trust Company of New York 1s trustee of the mortgage. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis m 768,000 4,890,000 ---1887 985,000 .... 7,716,000 £200,000 ---- 500---1889 &c. $1,908,000 .... 100 2,500,000 .... 163,100 ·ioo 10,250,000 i872 1,000 1,100,000 100 35,430,060 400,000 i878 1,000 1881 500 &c, 658,000 1,000 1,500,000 1888 .. .. . 25 2,500,000 City & Suburban Belt Jrallw-ay.-Ownsstreetrailwaysystem in Baltimore extending to Towson and Breeze Point, operating in December, 1892, 53 miles single track. The entire line will be operated by ele<rtricity. Stock is $3,000,000-par, $50. Mortgage is for $3,000,000, of which $120,000 reserved to retire prior bonds due in 1893 and 1894; balance for extensions, improvements, etc. For 11 months ending Nov. 30, 1892, gross earnings were $399,813; net, $105,576. Claflin (H.B.) Company.-Incorporated under the laws of New Jersey in May, 1890, to carry on the mercantile business of the firm of H.B. Claflin & Co., of New York City. The company's premises have a frontage of 375 feet on Worth Street, and with all appurtenances are valued at $2,739,181, its total assets Jan. 1, 1893, including merchandise, accounts receivable, etc., being put at $16,652,846. V. 56, p. 80. DIVIDENDS.-On preferred stocks full dividends to date. On common stock in 1891, 10 per cent; in 1892, January, 2; April, 2; July, 2; October, 2; in 1893, January, 2 14 per cent. (quar.) In September, 1891, it was decided to pay the dividends on the first preferred stock thereafter in gold. The option of converting preferred stock into common stock expired May 6, 1892, and annual charges for dividends ahead of common stock are now fixed at $284,251. PROFITS applicable to dividends were: In 1892, $870,006 ; in 1891, $658_,096; in 1889, $784,000; in 1888, $706,000; in 1887, $766,000. Totai surplus reserve for common stock $549,248. See semi-annual report in V. 56, p. 80. Office corner Church and Worth streets, New York. (V, 53, p. 94; V. 54, p. 203; V. 55, p. 99; V. 56, p. 80.) Colorado Coal & Iron DeveloJI ment.-The stock of this company formerly held in the treasury of t.he Col. Coal & Iron Co. was in October, 1892, upon formation of the Col. Fuel & Iron Co.-which see below-distributed to tlie Coal & Iron Company's stockholders. At the same time the Development Co. assumed the C. & I. Company's bills payable, and in return 1 eceived certain lands and land notes. The total real estate owned on Nov. 1, 1892 was valued at $6,229,623 (including town lots in Pueblo, etc.) ; land notes, $900,000; other assets, $220,377; total assets, $7,350,000. Liabilities as in table above. See full statement to N. Y. Stock Exchange in December, 1892 in V. 55, p. 1112. N. Y. Office, 45 Wall St. Colorado Fuel & Iron.-(See Map.)-ORGANIZATION AND PROPERTY.-Formed in Oct., 1892, by consolidation (per plan in CHRONICLE, V. 55, p. 373, 639,] of the Colorado Fuel and the Colorado Coal & Iron Cos., the f0rmercontrolling the Grand River Coal & Coke and the Denver Fuel companies and the Huerfano Land Association. It thus became the owner of the following properties; 69,000 acres of land, containin~, it is claimed, 400,000,000 tons of proved coal deposits, including i;team, domestic coking, gas, smithing and anthracite coal; 800 coke ovens; 15 coal mines, with daily capacity of 1.2,000 tons of all kinds of coal ; steel works at Bessemer1 including 3 blast furnaces, capacity 350 tons pig iron per day; rail mill, capacity 500 tons per day; bar mill; pipe plant, 30 tons per day; iron mines; and cash and convertible assets of lji283,971. .A.s to Colorado Coal & Iron Development Co. see that company above. See application to N. Y. Stock Exchange with balance sheet on Nov. 1, 1892, in V. 55, p. 1040. STOCK.-The authorized capital stock is $2,000,000 of 8 per cent cumulative preferred stock and $11,000,000 common stock. Of the common $1,750,000 remains in the treasury. DIVIDENDS.-On preferred: In 1893, Feb., 4 per cent. BoNDs.-The consolidated company assumes the bond@ of the Colo rado Coal & Iron, the Colorado Fuel and the Denver Fuel Company, and will execute a consolidated mortgage for $6,000,000 covering its entire property, $4,244,000 bonds secured by which will be reserved to retire the prior bonds at or before matlll'ity; the balance will be held in the treasury. Colorado Coal & Iron Development bonds for $700,000 were guaranteed by the Coal & Iron Co. prior to consolidation. The Grand River Coal & Coke Co.'s bonds are not guaranteed, but a majority of the company's stock is owned by the Colorado Fuel & Iron. EA.RNINGS.-In 1891 the companies in the consolidation produced 2,200,000 tons of coal and coke-two thirds the production of the entire State. The yearly increase has been from 25 to 30 per cent. The saving on account of the consolidation, it is said, should be large, while maintaining the selling price cl.uring the dull months shoulu further increase the revenue. It is claimed there will also be a large saving ill managerial ex;I?enses. The plan of consolidation presented the following statement : Bond interest, $4t21,4,000 at 6 per cent ..................... $254,640 00 Preferred stock dividend, $2,000,000 at 8 per cent......... 160,00~ 00 "'' $3,829,100 2,600,300 2,570,600 6,000,000 700,000 650,000 9,250,000 2,000,000 3,101,000 1,043,000 100,000 - - - - ----1----------1 See text. Q.-J. N.Y.,Office-ChurchSt Jan. 15, 1893 5 per an. Q.-F. do do Feb. 1, 1893 6 per an. Q.-F. do do Feb. 1, 1893 ---- ----- --- ------- 5 g. ,T. & J. N. Y., Central Trust Co. Juiy·1,..i909 6 g. .. . .. New York. 1897 8 per 'an. F ...&..A. N. i"s i"," Y., . "13j,"ciad way. Feb:. i893 6 g. F. & A. NewYork, Office. Feb. 1, 1900 6 g. M. & N. N. Y.,AtlanticTrustCo. May 1, 1919 --6-g. A:·&-·o. 2¼ on pf. 6 g. See text. 6 4 g. 114 6 See ~ext. F. & A. J. & J. Q.-J. J. & J. M. & N Q.-J. J. & J. J ...&.. J. Ne~·yo;ir. N. Y., Office, 80 B'way. N. Y., Amer. Ex. Bank. New York, 1 Broadway. New York and London. N. Y., Office, 115 B'way. N.Y.,Co.'s0f.,32Nassau N.Y., Am.Exch. Nat.Bk. N. Y-,~~-•s Of., 71d~•way. 6 pe~ an. J~-&MD. N. Y.,£iffice,4IrtngP1. F. & A. N. Y., Farm. L. & Tr. Co. 6 5 M. & N. N.Y.,Office,4IrvingPl. See text. ..... N. Y. Of., 20 Nassau St. Apr:·1, ..i919 .A.ug. 20, 1891 Jan. 1, 1917 Jan. 2, 1893 1893 to 1900 Sept. 1, 1919 Oct. 1, 1890 1892-1895 Feb. 1, 1893 Jan. 1, 1897 Dec. 15, 1892 June 1, 1898 .A.ug. 1, 1901 May 1, 1908 Feb. 1, 1892 After May 1, 1888, two cents on every ton of coal from the mortgaged premises goes to a sinking fund; bonds tendered may be purchased at not above 105. Dividends on preferred: In 1891, February, 219 per cent; August, 2¼; in 1892, none. In fl.seal year ending March 31, 1891, gross earnings were $1,190,011; net, $147,638 (against $121,225 in 1888-89); surplus over interest, taxes and dividend on preferred, $ n,012; from which paid royalties on coal not owned in fee, $17,743; car rentals, $3,221; discount, $18,255; improvements, $8,220; balance, $13,572. New York office. 80 Broadway.(V. 52, p. 507, 643,831; V. 53, p. 187, 288.1 Commercial Cable Company.-This is popularly known as the Mackay-Bennett Cable Company, owning two cables from Nova Scotia to Ireland; one from Ireland to Havre, France; one from Ireland to Bristol, England; also one from Nova Scotia to New York and one to Rockport, Mass., &c. In September, 1887, the stock was raised to $6,000,000, and in October, 1888, to $10,000,000, of which sufficient is reserved to redeem the debentures, &c. Dividends-In 1889, 1¼ p. c.; in 1890, 6 per cent; in 1891, 7; in 1892, 7; in 1893, January, 1 ¾. On Jan. 15, 1891 and 1892 company elected to pay off £120,000 debentures, being the maximum amount payable per annum. In 1891 gross earnings, $1,904,717; net, $1,085,32,1; dividends, $540,120; bal• ance, surplus, $545,200. Mr. J. W. Mackay, President, 1 Broadway, New York.-(V. 50, p. 71, 706, 735; V. 54, p. 52,i.) Co11U1tock Tunnel <" o.-Owns the Sutro Tunnel on Comstock Lode for facilitating gold and silver mining operations. The property was foreclosed January 14, 1889, and this company formed in September_, 1889, witn 2,000,000 shares of $2 each, making $4,000,000 capital, a~ainst $20,000,000 of the old Sutro Tunnel Company. The company has contracts with a number of mining companies for payments of royalty at the rate of 4 per cent on the bullion yield at market price in gold. The reorganization plan provides that one-half the surplus income above interest shall be applied to purchas'3 of the bonds if obtainable at or below 75, and m March, 1891, about $90,000 was devoted to this purpose, thus reducing the funded debt by $231,000. In May, 1892, no interest was paid on incomes, and on Nov. 1, 1892, l¼ per cent was paid. ANNUAL REPORT.-Report for year ending August 31, 1892, was in V. 55, p. 599, showing how the company's earnings have been affected by . the fall in the price of silver aod the reduction in the amount of ore taken out. In year 1891..02 royalty received was $71,401 (against $157,631 in 1890-91); other earnings, $20,201; miscellaneous receipts, $8,567 ; back royalty, $22,855; balance per previous report, $103,695; total receiptsi $226,719. Disbursements-Operating, eto., expenses, $72,157; bona interest paid, $3-!,390; extraordinary expenses, $42,090; balance forward Aug. 31, 1892, $78,082. The output of ore by certain companies has been only 152,809 tons, valued at $2,427,000, in 1891-92, against 209,025 tons, valued at $3,175,000, in 1890-91. New York office, No. 115 Broadway. (V. 53, p. 519,604; v. 55, p. 599,) Consolidated Electric Lio-ht.-The property of this company in New York & Pittsburg is leased to the Westinghouse Electric Company for $150 000 per annum and one cent royalty on every incandescent electric iamp manufactured by the lessee. For statement made to New York Stock Exchange on listing stock, see CHRONICLE, V. 48, p. 428 1 In 1890 stock paid 4¾ per cent.-(V. 48, p. 420,428; V. 49, p. 434.) Consolidated Gas of New- York .-This company was organized November 11, 1884, under chapter 367, laws of New York, 1884. The companies merged in it were the New York Gaslight, the Municipal Gaslight, the Metropolitan Gaslight, the Manhattan Gaslight, the Knickerbocker Gaslight and the Harlem Gaslight. The total stock was $39,078,000, of which $3,647,940 was reserved for working capital and for indebtedness of old companies. (V. 46, p. 418, 537.) Consolidated Kansas City Smelting & Kefi.nlng.-Incorporated in 1887 under laws of New York, and owns 6xtensive works at Argentine, a suburb of Kansas City, for smelting and reflnina lead, Bil ver and copper ores. Also has smelting works near El Paso, Texas, and crushing and sampling works near Leadville, Colorado. In Mexico it operates under lease three valuable mining properties. An increase of stock from $2,000,000 to $2,500,000 was authorized in January, 1892, for additional copper smelting and refining works. Dividends from August 1, 1887, to February, 1892, both inclusive, at rate of 10 per cent per annum in cash, and in 1892 1219 per cent also in stock to represent earnings spent in improvements. See full description of property in applications to N. Y. Stock Exchange in V. 4.9, p. 69, and V. 54, p. 370. In 1891 net earnings were $525,000. Mr. N. Witherill, Vice-President, 20 Nassau Street, N. Y. City. Consolidation Coal.-Report for 1891 was in V. 54, p. 524. The gross receipts from mines, railroads, rents, 1890. 1891. &c.(including value of stock of coal on hand).$2,583,092 $2,581,338 Net receipts...................................... $468,456 $384,385 The interest in 1891 took $122,729; balance, surplus, $261,656. Baltimore & Ohio Railroad owns $3,810,000 stock. This company guarantees also $1,000,000 bonds of the Cumberland & Pennsylvania Railroad, which it owns, and assumes $55,000 of the Union Mining Company's bonds. Dividends since 1883: for 1884 and 1885, 1; for 1886, ¾; for 1887, 119; for 1888, 214; from 1889 to Feb., 1893, inclusive, 2 per cent yearly. (V. 52, p. 390,· v. 54, p. 524.~ Dela-ware Division Canal.-8ee LEHIGH COAL & NAVIGATION. Denver City Cable.-Owns an extensive system of cable lines in Denver, Col., and has the exclusive right to operate horse railways in that city till 1902. Milea~e owned: Cable lines, 30 miles single track; horse car lines, 10 miles smo-le track total owned and operated May 1, 1892, 40 miles. Stock authorized, $3,000,000; out.Rtanding, $2,770,000; par $100. See application to New York Stock Exchange at length in CHRONICLE, V. 50, p. 487. (V. 54, p. 203 JANUAhY, MISCELLANEOUS 18~3.] STOOKS AND Subscribers will confer a great favor by glvln:; immediate notice of any error dlscoV('l."e MISCELLANEOUS. I Date Size, or I Hiii BO.NDS. in these '.1.'able@. INTEREST OR DIVIDENDS. Bonds-PrinciAmount pal,WhenDne. For explanation of column headings, &c., see notice on Boonfds VPalaure. Outstanding/Pate Per When Where Payable, and by/ Sto~~-Last first page of tables. Cent. Payable Whom. Dividend. I Oonsol. Kan. City Smell'g <f; Refin'g -(OonclucledJ. 1st M., ~old, subject to call at 105 after May 1, 1895 .. c* Denver Ott.I/ Cable-1st mortgage, gold ................ c*&r Denver City Water-General M. for $7,000,000 gold .... c* Denver Consolidated Gas-Stock .......................... . 1st mortgage, gold (see remarks) ...................... c* Den1Jer T1·amway-lst mortgaie, gold ..................... . Consol. mort~age, for $2,00u,000, gold .............. c*&r Met. St. RR. Co.1 tM. for$1,000,000 ($20,000 p.m.)g.gu. DetroitMack. &Mar(IltetteLand Co.-M. (inc.) red. at 100.r Detroit Union RR. ])epot&Station-Stock,$2,500,000 aut. Distillin.q & Cattle Feeding- Stock ......................... . Edison Electl"ic Illuminating of Brooklgn-Stock .... .... . lstM. ($2,500,000) ,g., sub.to callatllOaft.Oc.1,1900 c' &r Edison Electric lltuminuting of New York-Stock ........ . lstM ($5,000,000)g.,conv.,red.at llOaft. Sept.1,1900.c* Evt~i~o~~afe~~~t. ~~-. ~~ ~~~. :~~,~~~~~.~~::::::::::::::: Consolidated mortga~e for $-1,000,000, gold ............ . Erie Telegraph & Telepnone-Stock .. ...................... . $1,000,000 6 g. 3,397,000 6 g. 1,288,000 5 g. 1,500,000 See text. 1,500,000 6 g. 100 &c. 498,000 G g. 1,000 1,219,000 6 g. 1,000 621,000 6 g. 1,000 3,143,000 7 1,000 100 2/,150,000 See text. 100 35,000,000 See text. 100 1,500,000 !See text. 500,000 5 g. 1,000 6,100,000 See text. 100 3,100,000 5 g. 1,000 100 4,000,000 See text. 1,000,000 6 1,000 1,730,000 5 g. 1,000 4,800,000 4 per an. 100 500,000 6 g. 1,000 1,000,000 412g. 1,000 100 30,395,600 See text. 4,235,300 7 per an. 100 1,000 10,000,000 I 5 g. 1,000 500,000 l 5 g.J 1890 $1,000 1888 1,000 1890 1,000 is9i 1888 1890 1891 1881 1890 i890 i892 Collateral tru t sink. fund gold boncl,;, not sul>j. to call. i893 Fort St. Union Depot (Detroit) 1 t mortgage, gold ...... c' 1891 General Electric-Common stock .......................... . Preferred tock 7 per cent cum. (not pref. as to assets). Debentures, gold, convertible ........................... c i892 T. H. El. collat.trust, g., reel., at 105 aft. July, 1899 .... c 1889 M. & N. J. & J. M. & N. Q.-J. J. & J. J. & J. J. & J. J. & J. .A.. & O. Q.-J. Q.-J. Q.-J. A. & O. Q.-F. M. & S. Q.-J. F. & .A.. M. & . Q.-F. J. & .r. J. & J. Q.-F. J. & J. J. & D. J. & J. N. Y., Of. 20 Nassau st. May 1, 1900 N. Y., Taintor & Holt. Jan. 1, 1908 In default-See text. Nov. 1, 1910 N.Y.,Maitland, P. & Co. Jan. 3, 1893 N. Y.,.A.tlantic Trust Co. Nov. 16, 1911 Denver. July 1, 1908 New York City. Jan. 1, 1910 do Jan. 1, 1911 See text. Oct. 1, 1911 Detroit. Jan. 5, 1893 Peoria, ill. · Jan. 3, 1893 Brooklyn. Jan. 16, 1893 do Oct. 1, 1940 N.Y., Of.Pearl cor.Elm. Feb. 1, 1893 N.Y.,Guar. & Indem.Co. 1 Mch. 1, 1910 N. Y., Office, 340 3d Av. I Jan. 16, 1893 N. Y., Central Trust Co. Aug. 1, 1899 N. Y., Central Tru t Co. Mar. 1, 1932 Co.'s Of., Lowell, Mass. Nov. 14, 1892 Bost. SafeDep. &Tr. Co. Jan. 1, 1903 N. Y. Central Trust Co. Jan. 1, 1941 Cos.Of., N. Y. & Boston. 1 Feb. 1, 1893 do do Jan. 1, 1893 N.Y.,Gn.&Ind.Tr.&Bos. 1 June 1, 1922 N. Y., Holland Trust Co. July 1, 1919 I I I De over City ,vate1·.-Owns water works supplying the city of DIRECTORS A~D OFFICER<,.-Direotors are for one year, William :N. Denver, Col., and suburbs. The general mort(Tage (trustee, Ceutral Hobart, Lewi H. Greene, Herbert L. Terrell; two years, J.B. Green• Trust Co. of N. Y.) is for $7,000,000, but of this amount $2,712,000 hnt, W. H. Corning, Frauk Curti. s; three years, P. J. Hennesy, Nelson are held to retire prior lien bond-,, $2,000,000 of 7s of which prior MorriR. Julius E. French. PreRident, J. B. Greenhut; Treasurer, Wm. bond;; are due Jan. 1, 1 95, and the rest are past clue. Capital stock, N. Hobart; Secretary, P. J. Hennessv. Office, Peoria, rn.-(V. 53, p. ~ommon, $5,000,000; pr~f., $2,000,000.. In year 1890-91 gross earn• 21; V. 54, p. 682; v. 55, p. 856, 1035.) mgs were $3 .4,155, ~ga1!1st $308,444 lll 1889·90. In Octobe!', J 892. Edison Electl'ic Illtunlnatioo- of Brooklyn.-Stock and foreclosure smt.w;s U1st1tuted under the. gen~ral !11-0rtgage, mt~rest bonds li ·tecl on N. Y. Exchange in September, 1892. See adv. CHRON· on the bonds °!)em,., in _clef~ltlt . .A.J.?out t:vo•tlnnls rnterest clue Nov., ICLE of March 12, 1892. STOCK increa ed from $600,000 to $1,500,· 1891, was paid. Receiver 1s Demns Sullivan. 000 Sept. 4, 1890. DIVIDENDS-From June, 1891, to Nov., 1892, 4 p. o. Denve1· Consolidated Gas Co.-OrganizedNov.16 1891 to take por an!lum: in 1893, Jan., l14- p. c. quarterly. MORTGAGE-Trustee over the old gas company in Denver, Col. Capital stock, $1,500,000. Frankl!!}, Trust <;:o. EARNINGS-In year 1892 gross, $231,001; net, Mortgage covers all the corporate property, which includes valuable real $127, lvi>; other mcome, $38,445; taxes, fixed char e , etc., $64,317; estate in Den,er. The bonds are subject to redemption at 105 and balance, snrplu,;, $101,281. In year 1891 net, $59,..,32. OFFICE-No. ~~re tin ca e of any ~e ?f prop_erty under the mortgage. Quarterly 360 Pearl Street, Brooklyn.-(V. 55, p. 551.l dividends of 1 p. ct. paid m April, July and October, 1892; in 1893, Edison Electric Illu1Dinatin2: Co. of Ne-w- York.-Listed .January, 1 c. Gross earning:_s year endini Jan. 20, 1892, $374,027; on New York Stock Exchange May, 1889. See in V. 50, p. 906. net, $194, _03 ; year endrn~ Jan. 20, ~Sul, gross, $358,918; net, STOCK.-Stock was increased to $4,500,000 February, 1891, and in $180,755. Hon. J.B. Grant, 1Jcnver, President. May, 1892, an increase to $6,500,000 was authorized. Denver Tram,vay .-Owns 18 miles of cable road and 35 miles of . DIVIDENDS.-From 1885 to 1891, both inclusive, 4 per cent per annum; electric railway in the city of Denver, Col., and lease the Metropolitan m 1892,Feb., l14; May, 114; Aug., 1 14; Nov., 114; 1893, February, 114 St. RR. 26 miles, guarauteeing its hontl 1n'incipal and intere t. Sec p. c. Directors advi increase to 112 p. c. quarterly hereafter. In 1887 advt. of bond, CIIRONICLE Oct. 22, 1892. Full abstract of the consol• an extra dividend of 7e p. c. and in 1891 of 5 p. c. was paid in scrip. !dated mortgag-e was in CHRONICLE, V. 52, p. 354. Denver Tramway Boxns.-rn 1892 $850,000 5 per cents were issued. Mortgage trusstock, $1.000,000; note and acconnts payaule were$ 1,208 Sept. 30, 1 92. From Jan. l to ept. 30, 1 92, gruss earnings of both companie tee i the F.ranklin Trust Company, were $737,7QO aaainst $611,548 in 1891; net, $216,233 against .A.x~UAL R~~PORT.-Year entls Dec. 31. For 1892 full statement was $142,566. Office, Denver, Col. (V. 52, p. 350,352; V. 55, p. 1036.) in V. 56, p. 125. showin"" gross earnings $942,575; net applicable to interest and diYidend,i $!75,137, against $347,229 in 1891. SpencerDetroit lUacklnac & Marquette Land G1·ant Bonds.-Owns Trask, President. General Office, Pearl St., corner Elm St.-(V. 53, p. about 1,3~0,000 a~res of land in Northern Michigan, along the line of 54, p. 202, 366,469, 1,048; v. 55, p. 256, 639,723; V. 56, p. tb.e Detroit Mackinac & Marquette RR. Lands are free from taxation til\ 1895. Of the total issue of $±,560,000 bond , $1,417,000 had been Edison General Electl'ic.-See the GENERAL ELECTRIC Co. purchased and canceled prior to Jnly 21, 1892, at pl'ices ranging from 29 to 39¼ per cent. In Octol>er, 1Bg2, 2 per cent interest was paitl at Equitable Gas Ll«ht Co. of New Yo1·k.-Incorporated March Central Trust Co. V. 55, p. 5 !l. James Mc Millan, Detroit, President. 9, 1882. Owns three blocks between Thirty•ninth and Forty-second -(V. 54, p. 33, 32 ; V. 55, p. 589.) Streets, First .A. ,enue and Ea t River; also 32 lots between FiftyDetroit Union RH. Depot & Statlon.-Owns 40 acres of eighth and Fifty•ninth Streets and Tenth and Eleventh av.enues, and terminal property at Detroit, Mich., including 312 miles teel track, four lots southeast corner Eleventh .A. venue and Fifty-ninth Street. freight hou e, grain elevator, etc., all except the elevator leased to the Total assets January 1, 1889, $6,185,870, including mains abcmt 114 Wabash, the Flint & P. M. and the Detroit Lan ing & Northern RR. miles; gas works valued at $2,501,952; real estate at $1,190,922. In companies. In year 1891 receipts from rentals, elevator, etc., were 1888·89 $1,000,000 new stock was issued. Dividends-In 1886, 512 per $128,950; expenses, including taxrs, insurance and expense of elevator cent; from 1887 to Oct., 1892, both inclusive, at rate of 8 per cent ,$27,574; net income applicable to dividends, $101,382. In 1892 all yearly; in 1893, January, paid 3 p. c. quarterly. The consolidated the bonds were retired, in exchange for tock. Dividends for several mortgage (Central Trust Co., Trustee), covers· all the real and personal year have be<';n 4 oer cent per annum, payable quarterly, and what property and .rights and franchi e or the company. V. 55, p. 1036. the ren•nue yields above that is divided as an extra dividend. James Office, 340 Third .A.venue. (V. 48, p. 129; V. 54,p. 643; V. 55, p.1036.) F. Joy, Pre ident. (V. 53, p. 59; V. 54, p. 725.) Erle Telegraph & Telephone Co.-This company owns 65 per Distilling & Cattle Feedlng.-This company, incorporated un• cent of the Cleveland Telephone Co .. 70 per cent of the Northwestern der the laws of the ..,tate of Illinois, owns distilleries as follows: In Telephone Exchange Co., and 70 per cent of the Southwestern Tele Illinois, 29 (of these 8 in Chicago and 14 in Peoria); Ohio, 16 (of these graph & Telephone Co., operatin(T in the tates of Ohio, Minnesota, 8 1n Cincinnati) ; Indiana, 11; Missouri, 7 ; Wisconsin, 2; Minnesota, 1; North and South Dakota, Texas ana'. .Arkansas, uncler licenses from the H;e~tuc~, 7; N_ebraska, 2; Iowa, 1; New York, 2; California, 2; total American Bell Telephone Co., and having on July 1, 1892, a total of distilleries, April 1, 1892, 80. .Also one alchohol works in Illinois and 14,429 subscribers. Stock, $5,000,000, of which $200,000 is in the 3 in Iowa. Stock listed on New York Stock Exchanae in September treasury. Bonds tor $500,000 authorized in 1892 and secured by de• 1890. In December, 1 92, acquired three other di tfileries. The re~ posit with trustee of stocks of the three sub companies. Dividend have been-In 18 3 (6 months) 114 per cent'; in 1884, 212; duc~on of dividend , the Presid~nt said, put the company in a position to make these purchases without the issuance of new stock or 1885, 12; 1886, 212; 1887~212; 1888, 4; 1889, 334; 1890,4; in 1891, 4; in 1892, 4. Transfer omce, Lowell, Mass. the creation of any bonds. See V. 55, p. 856, 1035. For the year ending March 31, 1892, the three companies controlled DIVIDEND .-Dividends, previously 1s per cent monthly, were in June report gross income of $866,334, (against$791,067 in 1890.91); gross 1890, increased to 14 per cen~ ~onthly, in October to 3s per cent,~ expenses, including dividends paid, $838,853; surplus, $27,481. For November to 12 per cent; the dividends from December, 1890, to July the same period the proportion of dividends received from these com1891, inclusive, being at that rate; dividends then chanied to quar~ panies by the Erie Tel. & Tel. Co. was $215,357; dividends paid by terly,.and i1:1 October paid 1½3 per cent and January, .1892, 112 per the Erie Tel. & Tel. (4 per cent) $192,000; surplus, $23,357; excent; m April, 1 per cent, and ru July, 12 of 1 per cent, on account of pense account, $8,128;Co. net surplus, $15,228. Office, Boston. threatened legal proceeding ➔; in Oct. 12 of 1 per cent; in 1893, Janl!• Fort Street Union Depot (Detrolt.)-Owns depot property at ary, 112 per cent. Mich., which is lea ed in perpetuity to the Waba h, the Flint ANNUAL REPORT.-Fi cal year ends March 31. Report for 1891·92 Detroit, & Pere Marquette, the Detroit Lansing & Northern, and the Canadian (V. _54, p .. 682) say : "While!t ha been neces.sary, on account of our past Pacific. The lease provides for the payment of a net rent which shall indiscretion, to run our busmess for some trme on a smaller margin of be equivalent to all the annual charges and 5 per cent per annum upon pro:fit than would .ordi?-a!ilY have been required, such conservative the total cost of all the property, to be paid by the lessees in monthly policy, however, will wm m the end, and our competitors, or those con• talment . The mortgage (trustee, Central Trust Co. of New York) templating to become such, must realize and understand that this com· in co~ers the lands, buildin~s, pany is in the field to stay, and that it will J?rotect its trade at all paid, $1,000,000; par $10u. tracks, franchises, etc. Capital stock, fuil hazar~s, even should it b~come necessary for an mdefl.nite period to put General Electric Coinpany.-ORGANIZATION.-Organized under the prices of <?Ur product on such low basis as to earn little or no profits, and irrespective of the results such course may produce in the direc- the laws of New York,.A.pril15, 1892, for the purpose of ma11ufacturi.ng, using and selling all kinds of electrical and other apparatus, witn tion of paying dividends on our stock.'' The !ollowin~ is a comparative statement of sales of the company's power to acquire, hold and deal in the stocks and securities of other electrical corporations, and to carry on a general manufacturing busiproduct, covermg the la t tour fiscal year , viz.: ness. lt ha acquired practically all of the capital stocks of the Edison Sales for fl.seal year. Gallon~. Sales for fiscal year. Gallons. General Electric, the Thomson·Hou ton Electric and the Thomson1888 89 ................. 35,867,~11 1890·91. ................ 44,738,171 Houston International Electric companie~, °8ut the separate organiza· 1889-90 ................ .4.0, 32,220 1891 ·22 ................ .45,661, 717 tion of these corporations is retained for the present. .A. .summary of the company's financial tatement for the fiscal year In October, 1892, the U. S. Circuit Court sustained this company's ending March 31, 1892, show:i as follows: right to the sole manufacture of incandescent lamp~ under certain Cash assets Apr. 1, '91. .$2,069,079 Dividends paid .. ........ $1,890,698 patents having 312 years to run. See decision V. 55, p. ::>90, 1078. Earn. from OJ). plants .. 2,466,086 Expenses paid.......... 442,306 CAPI.TA.L STOCK.-The total authorized capital sto~ ls ~50,000,000, Earn. from contract . . . 137,415 Cash assets Apr. 1, '92. 2,395,822 of which $10,000,000 may be pref. 7 per cent cumulative, without Earn. from rentals...... 5,577 preference as to principal. In November, 1892, there was reserved Earn. from intere t.. . . . 50,668 Total.. ................ $4,728,827 for stock of the absorbed companies unexchanged common, $64,400, Cash assets Apr. 1, '92. 2,395,822 and preferred, $16,700, leaving unissued and in the treasury ot the Tota.1 receipts '91·92 . .if;4,728,827 Cash as ets Apr. 1, '91. 2,069,079 company stock of the issue authorized to the amount of $15,288,000. The Edison General Electric stock was exchangeable for new comSur.eam. fortheyear. $326,743 mon f!tock, dollar for dollar, the Thomson-Houston preferred for new 8 J:· https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis r~Lv. I INVESTORS' SUPPLEMENT. 136 [VOL. LVI, Subscribers -will conCer a great favor by giving immediate notice oC any error discovered in these Tables. MISCELLANEOUS. For explanation of column h e adings, &c., see notes on first p a ge of tables . Gold~ Stock Tel.-Stock,renta lguar.6p.c.99 yrs.W.U.Tel .. Bonds, not mortgage ......... . .... . . . ............. . .. . . .. c H enderson Bri dge Oo.-l st M. , gold, drawn at 105 .. . . . . c* :Herring Hall-Marvin- Common stock . ..... . .. . . ...... .. .. Preferred stock 8 p er cen t cumula tive .... . . .... . ... . .. .. Dlinois Steel-Stock.... . ......•. . . . . . ................... . . . . Debentures, subject to call at 105, convert ible into stock Interior Oondui t-Stook. . ... . . . . . . • • • . . . . . . . . . . . . . . . . . . .. lnternat'l Ocean Telegraphr-Stock, 6 p. o. 99 yrs., W. Union. Iron Steamboat O~tany-Stook ......... . ..... . . . .. ... ... . B O'l'U'ls-Princ1 INTEREST OR DIVIDENDS. D ate Size, or p al,Whcn Due. Am oun t P ar by and of Payable, e Wher When er P Rate Stocks-Last Whom. B onds Value. Outstan din g Cent. P ayable Dividend. - - ·-·- issi -- -· ··-- isoo ---- ---· 1st mortgage for$ 00,000 ...... . ..... .. .... . ...... .. . .... issi Laclede GasLight-Stook($2,500,000 is pref .5 p .o.oum.) . . o 1st mortgage, gold ... .. ...... .. .... . .. .. ...... .. . ... .. .. o · i889 Lehf:h Ooat ~ Navi:fcation -Btook ....... . . . ......... . ....... ls M., canal, 6,0 0 acres ooaland 76 m. L . & 8. RR .. . .. r is64 1st mort., Leh. &Sus. RR.Ma uch Chunk to East on ..... r 1 867 2d M. on Can. Coa l &RR. a nd lstM.Nant. RR. , 26 m .. o* 18 67 Cons. 3d M. Can al, Coal &122 m. RR. ; 2d M. 26 m. RR .. 1871 General mortgagef or $15,000,000, gold .. .. . ...... . ... . r 1 884 Delaware Div. Can al 1 st M., int. ~- (ex t'din 1 87 8) .. .. o 1858 Leh~h~ Wilkesb're Goal-Leh.Coal Nav.M. i ,assumed. 18 67 Le gh Coal &Nav igation mort.convert, goi ,assumed . . 1 8 69 Sterling loan,sinkiugfund , drawn a t 100 ... . ... .. .. . . .. o. 1874 Consol. mort. ($6,116,000 income held by Cent. N . J. ).o 1 87 5 Sundry real esta t e mortgages ....... . . ......... . . ... . ... c 11 • • •• 5s of 1912, cumulative smkina fund (not drawn) . . . .. .. c 1888 Income" B " bonds ,u ot c u.mt ativ e, hP-ld by Cen t . N.J.. 1 . ... · $100 500 1,000 100 100 100 1 ,000 100 100 100 500 100 100 &o. 50 Various Various 500 &o. 1,000 1,000 1 ,000 500 &o. 500 &o. £200 1,000 1) )00 .. .. J)reierred also dollar f or dollar, and t b e Thomson -Houston comm on for new common a t the r ate of $125 in the old stock f or $300 of t he new. See V. 54, p. 287,328,443. DIVIDENDS.-The General Elec~ric on common stock p a id in Augu st, 1892, 2 per cent; November, 2; ID 1893, Februar y , 2 per cent. PRICE OF STOCK- Gen eral Electric common stock .-In 1892, 10412-W 119 7s; in 1893, to J anua ry 20 inclusive, 111@11414, STATEMENT TON. Y. STOCK EXCHANGE.-The elaborate statem en t to the N. Y. stock E x change, dated May 31, 1892, with balan ce sh eets, &o was in v 54 p 1050 a nd to this reference should be made. ' ' · · ., Bo~~--In November, 1892, the $6,000,000 of 5 per cent gold b onds rema.mIDgin the treasury were ?ffered to stockholders at par, pay ments to be made one-half Dec. l_n, 1_892, and one-halt J:an. 16, 1 893. These 1,ebentures are all oonvertib_le mto General Electric st ock a t t h e rate of $100 m stock for $120 m bonds. (See V. 55, p. 14 6.) The Thomi:ion-Houston collateral trust bonds are secured by pledge of $~00,(!00 first mortg~ge 5 J!er cent gold bonds of the Manhat t a n E leotr1c L1ght Co., depos1ted w1th the Holland Trust Co. a s tru stee, and covering real estat~, plant, etc., in New York City Until t he oollatt>ral trust bo_nds are pa~d, both the Thomson-~ouston a nd the Ma nhatt an compames a.re forbidden to mortgage their prop -erty. EDISON GENERAL ELECTRIC.-This company on Ma y 1, 1892, owned: (1) Manufacturing plants and real estate valued at $6,057,368 ; (2) stocks and bonds of controlled companies, etc. (including practically the entire stock of the Edison Electric Light Co.), valued a t $6,384,064; (3) bills receivable, supplies, etc., $11,748,534, against which were bills and accounts payable of $6,554,353, mortgages on real estate of $265,000; dividends declared and unpaid of $301,606, and depreciation account of '686,033. The Edison Electric Light Co., controlled by the Edison Gen. Electric, owns all the Edison patents for incandescent electric lighting in North a.nd South America. It grants exclusive licenses for specified territory to local companies, and owns stocks and bonds acquired therefor. Report for the yea.rending Oct. 31, 1891, showed gross earnings, not including those of the Edison Electric Light Co., of $10,942,640; net, $1,749,549; amount charged oir on various accounts, $558,070; net result, $1,191,479; surplus from preceding year, $1,100,432; total available for dividend.a, $2,291,912; dividend.a paid $1,031,845. In addition to the a.hove earnings the Edison Electric Light Co. received in 1890-91, as license feel!!, $631,672 in stock and bonds, estimated to be worth $500,000, of which the General Electric share would be about $495,000. THOMSON-HOUSTON ELECTRIC.-This is a Connecticut corporation engaged at Lynn, Ma.es., in the manufacture of electric lamps, dynamos, outfits for electric railways, etc. On January 1, 1892, there were 204 railway companies using its motor system, while 100,293 of its arc lights a.nd over 800,000 of Its incandescent lights were in use by local companies. Floating debt Feb. 1, 1892, $2,515,300; stock, $10,000,000; surplus, $~~6,948; guarantee account, etc., $201,200; assets, $20,263,448. .l'lscal year ends February 1. Annual report for 1891-92, with balance sheet, was published at length in V. 54, p. 641. In 1891-92 the business of the Boston office amounted to $10 304,580, against $10,217,661 in 1890-91. The profits applicable to dividends in 189192 were $2,760,780; dividends paid, ij;l,236,366; balance carried to surplus account, !f'l,524,414. The Thomson-Houston International Electric Company conducts the foreign and export business of the Thomson-Houston Electric Co. .A1'o"NUAL MEETING is held on second Tuesday in April. DIRECTORS of the General Electric for the year 1892-93: H. MoK. Twombly, Chairman of the Board; F. L. Ames, C. H. Coster, C. A . Coffin, T. Jefferson Coolidge, Jr., T. A. Edison, F. 8. Hastings, H . L. Higginson, Eugene Griffin, D. O. Mills , J. Pierpont Morgan. Officers.-President, C. A. Coffin; Treasurer, .A. 8. Beves; Secretary, E. I. Garfield, New York; office Edison Building, Broad St.-(V. 54, p. 119, 242, 286, 287, 328, 443, 597, 683, 761, 800, 845, 1047, 105 0 ; v. 55, p. 146, 590, 1078, 1111.) Gold & Stock Telegraph Oo.-Operated by Western Union Telegraph Company by contract for 99 years from January 1, 1882, at 6 per cent per annum on stock and bonds. Benders n Bridge Oo.-Stock is $1,000,000 (par, $100), of which the Louisville & Nashville Co. holds $501,000 ; the Brid.,.e Co. is ~aranteed gross receipts of $200,000 per year by t he severaf roa ds usmg it and dividends or 212 per cent are paid each F. & .A. Herrlng•HalJ•Marvln Oompany.-ORGANIZATION, PROPERTY, ETC.-Organized in May, 1892, to take over and ca rry on t h e business of manufacturing fire and burglar-proof s afes a nd v aults, w h ich formerly belonged to the Herring, Hall, Marvin, etc., com p anie . Total assets thus obtained were put at $2,003,974- inoludin g machin ery, patterns, etc., $668,681; r e al estate a nd leasehold in t er ests, $11 6,7 51 ; b alance, materials, bills r e ceivable, stock on h and, etc. See adv. in CHRONICLE of May 14, 1 892. STOCK.-Pref errcd h as pref er en ce t o assets as well as income. Comm on is "ent itl ed to t h e s urplw~ earnings, when declared in diYidends, after the p ayment of 8 per cent on the p referred." No bond or mortgage can be cr eated w it hout con sent ot 90 per cent of preferred. DIVIDENDS on p refer red: In 1892, December, 2 per cent quarterly. EARNINGS.-Total n et profits of the consolidated companies averaged $276,320 in t h e three years ending in 1891; net profits in 1 891, $316,790. DIRECTORS.-Edwar d C. H all, President; J ohn Farrel, Willis B. l\Iarv in, Frank O. H er rin g, Wr igh t D . P own a ll, Richard T. Pullen, William https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $5,000,000 500,000 1,810,000 1 ,500,000 1,800,000 18,650,635 6,200,000 1,25 0,000 3,000,000 2,000,000 443 ,000 10,000,000 10,000,000 14,3 66,650 5,000,000 2 ,000,000 1 ,842,500 2,4 66,000 3,686,000 800,000 500,000 649 ,500 98 6,000 11,5 00,000 20 5,64 6 2,872,000 2,353,000 6 p er au. Q.-J. N. Y., West. Union Tel. J an ., 1893 M.&N. 6 May 1, 1895 do do 6 g. M. & S. N. Y ., 120 Broadwa y. Sept. 1 , 1931 N e w. ····· ····· 8 per a n Q:...:.:M. 5 stock "i891 N.Y.,Metr~olitanTr.Co Dec: J ...& ·J . N. Y., C., orga,n & Co. Jan. 1, 1910 5 -- -- per an. 6 See text. 6 See text. 5 g. See text. 412 6 6 g. 7 412g. 6 6 g. 6 g. 6 7 6 5 .... "io: West: Q:~j. N. Y., union Tel. N. Y., P i er 1, North Riv. J." ·&--J. N. Y., First Nat. Bank. N. Y .,H.B.Hollins; St.L. N.Y.,H.B.Hollins; St.L. M.&N. Philadelphia, Office. Q.- J. do do Q.- F. do do J. & D. do do J. & D. do do Q.-F. do do J. & J. Pbila ., 226 So. Third St. J. & D . Philad~· Coa l & riv. Co. M.& S. M.&N. New York and London. Q.- M. do do New York. M:·&· N . New Y ork and London. 4:.:.j,_ ..... Jan·.; ·is93 Oct., 1892 July 1, 1901 Dec. 15, 1892 May 1, 1919 Nov. 25, 1892 July 1 , 1914 Feb. 1 , 1S97 Dec. 15, 1597 June 1, 1911 May 1, 1924 July 1, 1898 Dec. 15, 1897 Sept. 1, 1894 May 1 , 18tl9 June 1 , 1900 Nov .. ·i,· "i912 · · ···- ·· · · . .. .. ... . H all, all the foregoing having been member s of the old companies; ! HRich ar d Dymonp, Joseph R awson, Jr., and William S. Rowe, Cinoin nati ; John H. D avis, New York. IJlinois Steel!-This comJ,>any was formed May 1, 1889, by consolidation of the Joliet Steel Umon Steel and North Chicago Rolling Mill companies . It owns 19 ~ace stacks and in 1891 received 3,026,456 tons of raw material, and shipped 795,362 tons of finished product. In 18Hl th~ total net profits were $1,038,000, of which $883,~00 were exp ended m improvements. I:1. February, 189~, it was voted to IDcreaae t he st?ok from $25,000,00_0. to $501000,000 ID order to increase the oapa01tv of the works. Dividends ror 8 months of 1889, 4 per cent; for 1890, 3 per cent in cash, 5 per cent stock; for 1891 none. The balance sheet on Jan. 2, 1892, was as follows: .Assets-Cash in bank and on call, $1,246,655; accounts receivable, $2,842,526 ; bills receivable, $1,028,482; inventory, $9,024,740; stocke, b onds and inv estments, $2,371,871; plant and real estate, $17,801,618; total assets, $34,315,893. Liabilities-Capital stock, $18,650,635; bonds, $6,200, 000; a ccounts payable, $2,928,345; bills payable, $4,256,697 ; a ccrued int erest, $166,589; surplus fund, $144,328; profit and loss s urplus, $19,69,295 ; total liabilities, $34,315,893. Treasurer's office, Rookery Buildmg, Chicago. (V. 54, p. 287.) Interior Cond uit.-Sncoessor to the Interior Electrical Company, doing business in New York City. Balance sheet in December , 1892, showed real estate, pla nt, etc., $331,960; patent account, $877,742; cash a nd accounts receivable, $83,129; supplies, etc., $170,119; total, $1,462.951.-Contra, stock, $1,250,000; mortgage on building, $75,000; accounts, etc., payable, $83,864; profit and lJss $54,087; total, $1,462,· 951. Gross earnmgs for 11 months ending Nov. 30, 1892, $327,· 5089; net $68,925. Stock listed in Jan., 1893. Office 44 Broad St., N. Y . Laclede Ga• Llght.-This St. Louis com]>any was incorporated in 1857 ; in 1889 it came into control of all the other gas companies ill lit. Louis1 through ownership of their securities. The Laclede's contract with ihe city of St. Louis, running to 1916, permits it to charge consumers $1 ·25 per 1000 cubic feet. The city sought to annul thi8 contract, but it was sustained in the courts. PREFERRED STOCK ls 5 per cent cumulative, and in May, 1892, there was 1114 per cent of accumulated dividends unpaid. DIVIDENDS on prefened have been-in 1892, Marah. 114; June, 114; Sept. 114; Dec., 114. Central Trust Co. is trustee ! under the mortgage. See application to Stock Exchange in V. 4'9, p . 657. ANNUAL REPORT.-Statement for 1892 in V. 56, p. 126, showed net earnings from gas $659,195; net from Carondelet, etc., $38,895; total. $698,090, again-.t $582,460 in 1891 and $513,749 in 1890; interest on bonds, $500,000. In 1892 the sales of ~as to priv11,te consumers (the contract with the city having expired) were 929,611,400 cubic feet. against 851 110,200 in 1891 and 726,576,200 in 1890. New York office, 40 waii Street.-(V. 52, p. 321, 498, 718, 899, 939; v. 56, 126.) Lehigh Coal & Navtcatlon.-Owns canal from Coalport to Easton, Penn., 48 miles, and leases Delaware Division Canal, 60 miles. Also owns Lehigh & Susquehanna Railroad, Phillipsburg, N. J., to Union Junction, Pa., 105 miles, with branches, 56 miles, and leases for 999 years Nesquehoning Valley Railroad, 17 miles; Trescow Railroad, 7 miles; other lines, 17 miles; total, 202 miles; but all these roads are leased for 999 years from 1871 to Central of New Jersey RR., rental being 3313 per cent of gross earnings, with a minimum rental of $1,414.400. :Bo:NDS.-The Cent. RR .. of New Jersey assumed (in purchase of equipment) $2,310,000 of the gold loan due 1897, and the Lehigh & Wilkes• barre Coal Company assumed $500,000 of the gold loan due 1897 and $649,500 (all) o.C the convertible gold loan due 1894, additional to a.mounts in table above. The general mortgage of 1884 (trustee, Fidelity Insurance Company of Philadelphia) covers, subject to prior bends, 7,460 acres coal land, 48 miles canal and 161 miles railroad estimated in 1884 as together worth $25,278,000; bonds are reserved to retire all prior issues not assumed by other companies. Securities owned by company are p ut in balance sheet as equal to $3,909,473. DIVIDENDS.-In 1881, 2 per cent; in 1882, 4; in 1883, 512 ; in 1B84, 6; in 1885, 512; in 1886, 412; in 1887, 4; in 1888, 412; in 1889, 5; in 1890, June, 212; December, 212; in 1891, May, 212; November, 212; in 1 892, May, 212 per cent; Nov ember, 3. .A.NNU.AL REPORT.·-Report for 1891 was in CHRONICLE, v. 54, p . 364. 1891. 1890. 1889. From railroads and Nesque. Tunnel..$1,816,436 $1,766,174 $1,835,754 38,161 45,518 48,494 Canals...... . . . ....................... . .. 158,837 148,049 204,563 Net profit on Lehi~h Coal.............. 96,808 105,308 83,771 Royalty on coal mmed, &o...... ....... - -- - - Total receipts ...................... $2,153,264 $2,065,049 $2,129,560 Inter est , rentals, taxes, &o . . ..... . .... $1,161,096 $1,140,121 $1,147,223 96,790 99,150 118,242 Less sink. fd. of 10 p. c. p. ton oncoal. 100,68 0 107,533 105,911 Less depr eo'n on ooa limprov'm't s,&o. $718,445 89 3,513 ~,784,86'7 897,274 Dividends .. . .. .. ... . . .. . . ..... .. ... . .. . (5)64.1,193 (5) 714,484 715,150 Su r p lus for year .. .. .. .... . .......... . .. $768,015 Balance to cr edit of di v'd f u nd J a n, 1. 766,691 - - - - - ---Total. ... .. . .... . . . . ..... .. ....... ... $ 1,534,706 $ 1,611 ,758 $1,68 2,1 4 1 966.!HH 8alanoe to credit of div. fu nd Deo.31. $893, 513 $897,274 -CV. 50, p. 274: V . 52, p . 320 ; V. 54, p. 364.) L eh igh &: Wilkesbarre Coal,-Tllis company, controlled hy the Central RR. of New J er sey through own ership of $6,600,000 of the stock, owns 21,000 acres of anthr acite coal lands and holds 3,0oo. additional acres under l ease. It operates t hirteen collieries and lease~ about 4,000 acres of its coal lands to var io ns individual<s, who operate JANUARY, MISCELLANEOUS STOCKS AND BONDS. 1808.] Ui7' Subscrib ers -w-111 confer a ~reat favo r by giving inunedlate notice of any error discovered In these T a bles. .. I I Bonds-PrtnotMISCELLANEOUS. INTEREST OR DIVIDENDS. pal, When Due. Date ize, or A.mount For explanation of column headings, &c., see notes on of Par Outst anding Rate Per When Where Payable, and by Stocks-Last Bonds Value. Cent. Payable Dividend. Whom. first page of t ables. --- - - - Lonq Island Tractio n - Stock ........... . .. . .. . ............. .Lou LS11i lte,R'way Oo.-Stock $1,000,000 is pref. 5 p.c. cum. Bonds of old companies ...... .... .. ....... . .......... . ..... Louisville Ry. consol. mort. for $6,000.000, gold .. ... . c* Madi son S'/ium·e Ga1·den,- l st mortgage, fold ............ o* Mati . Beac Hotel <I: Land-Gen. M. for$ ,500,000 gold.o* Ma~rzi;ind Coal-Stock (see text) ........................... ls M., drawn at 100 (s. f. has retired $140,000) . ..... c* Max-wellLd. 01·.-Pr'rlienM.g.,red. atlOO (orllOatmat.) c Income M.(£987,100 pledied under prior lien M.) ...... Metropolitan Traclion-Stoc , $30,000,000 authorized . . . MetropolilanTel.<l:Teteg. Oo.-lstM.,gold, s.f. (notclr'n),c&r Mexican Telefj·a'l!l~Stock . ........... . .. . .............. . ... . M i chilan <I: eninsiilm· Oar-Common stoc~ $3,000,000. Pre erred stock (8 per cent gold, cumulative) ... . ... . ... 1 st mortgage, gold . .......... . ................... . .. . .. . c* Minm,esota I1·on uo.-Stock ....... . ............. .. .... . . . ... Jllorris Oanal-SEE LEBIGll VALLEY RAILROADNational Cordage-Common stock (see t ext) ............... Preferred, 8 per cent, cumulative . .......... . ...... . ..... Security Corpora.tion bonds and not()sDeering & Co. mortgage notes .. .. . ............. . .. . ... . Boston Cordage Co.1st M. notes, gold guar. Nat. Cord. Various other 1st mortga es .. . ......... . . . . . ... -.. . .. . Sec. Cor.lst cons.M.,g.,$6, 00,000 (int.paid as rental).c 3 $100 $ 30,000,000 ·- -· 6,000,000 100 --- · 1,400.000 '64-88 4,600,000 1890 1:000 1,250,000 1,000 1889 1890 500 &c. 1,300,000 100 4,200,000 ·--. ... . 1,000 110,000 500 3,000,000 1888 £100 £12,100 1880 . . ... 100 $24,000,000 1,000 2,000,000 1888 100 2,000,000 .... JOO 2,000,000 ---5,000,000 100 ·- -· 1,000 2,000,000 1892 .... 100 16,500,000 .... ..... 1891 1891 1891 1891 100 100 1:000 ... . 1,000 1-.--.. 5 p er a n . Variou s do 6 5 g. J. & J. New York & Louisville. 5 g. M.&N. N. Y., Mere. Trust Co. 4 g. M.&N. N.Y.,Corbin,Bk'fi,192B. See tex t. New York, 35 'dway. M:·&··N. 7 do do 6 g. J. & J. N.Y. , Lond. &A.ms'dam. See.text. J ... &- ·J. 5 g . M.&N. N. Y ., 18 Cortlandt St. lOperan Q.-J. N. Y. , Office, 37 Wall St. M.& S. N. Y. Guar. &Indem. Co. 8 p·e1: ·an. Q.-M. do do do · do 5 g. M. & S. 6 p er an. Q.-J. N. Y., Mills Building. ····- io1iisvrne. ------·-- - New. Oct. 1, 1892 var.1894-1909 July 1, 1930 Nov. 1, 1912 Nov. 1, 1940 Jan. 4, 1893 Nov. 1, 1896 Jan. 1, 1913 Juiy ·is: .i892 May 1, 1918 Jan. 17,1893 Deo:. i',..i892 Sept. 1, 1942 Ja.n. 3, 1893 10,000,000 See text. i·.:....F . N. Y., 135 Front Street. Feb • 1 , 1893 .-F. 5,000,000 8 per an. do do Feb . 1 , 1893 250,000 675,000 373,000 4,466,000 M. &N. by Nov.1,1901 . ... Boston,' oici. Coiony Tr. A.u.15,'93to'0l Various Var., 1893·96. 6 g. M.&N. N.Y.,Manliattan Tr. Co. Nov. 1, 1911 6 g g. <1ollieries thereon. The Central N. J. owns $6,116,000 of the consoli-1 cable from Galveston, Texas, to Coatzacoalcos, Mexico, 825 miles, dupdated mortgage bonds, which receive interest if earned , and $2,353,000 lica tin~ the Mex. Tel. and Oen. & So. Am. Co. 's Gulf cable system. Has of the income bonds. Stock ia $9,212,500 (par, $50) ; past due coupons exclusive right for 50 years for all foreign telegrams to Mexico, of consols held by Central New Jersey, $3,630,107. A sinking fund for except telegra ms to and from a neutral zone on the United States b onds due 1912 is provided from sales of surface lands and n ·om pay- border 156 miles wide, between the Gulf and Pacific Ocean. Stock ment of 10 cents for each ton of coal mined on property included in the was increased to $2,000,000 in F ebruary, 1890. first lien; no drawings. Only $54,000 of the company' s obligation are DIVIDENDS-In 1882 to 188 6 inclusive 8 per cent yearly· trom 1887 g uaranteed by the Central RR. of N~w Jersey. to J an uary 1893 both inclusiv e at rate of 10 per cent per annlllll. The annual report for 1891 was m V. 54, p. 405, and showed total ' ' ' receipts of $9,449,683; net over overating expen ses and t axes, $1,E A~NINGS, &c.-Companyowns 1:362 s~ares of the Central & South 015,282 (ao-st. $827 913 in 1890); mterest and sinking fund charges A.mencan Telegraph Co. Gross ear~s. for 3 mos. ~nding Dec. 31, 1892, 0 $989,638; balance, 'surplus, $25,644. Included in opera.ting expense~ w:e1:e about $91,292; n et, $73,792; mcome from mv_estments, $7,253 ; in 1890 w-'l.s $116,191 for disaster 8 at collieries. (V. 54, p. 405, 683; d1v1dend, $47,~15; balance, surplus, $33,231; repairs, $4,094. J . A.. v. 56, p, 42.) Scrymser, Pres t, 37 Wall St., N. Y. Long I 1d and T r action.-Formed in December, 1892, to lease the lliicWo-an•Pe nins ular Car Co .-ORGANIZATION AND BUSINESS.Brooklyn City RR. , whose lines aggregate 84 miles of m ain tra ck, A. consoliilation in 1892 of several Detroit companies, with an aggrea nd are being equipped with trolley. The lessee will guarantee 10 gate capacit y of 100 freight cars a day. Business established in 1864. p er cent on the Br ooklyn City stock and is to pay all fi xed cha rges, 'rhe r eal est ate, working plant, machinery and appliances have been -etc. The Br ooklyn City stockholders were given t he option of sub• appraised at $5,605,787, and the cash a ssets at $1,297,000. See adv. s oribing to $27,000,000 of the Traction Company' stock at 15. See CHRONICLE July 16, 1892. Brooklyn City amon~ stre~t railroads at back of thi~ SUPPLEMENT and DIVIDE DS.-On common will be l\I. & S. On preferred, in Decem11er, annual report for 18~1-92 m V. 55, p. 214; also particular s as t o lease 1892, paid 2 p er cent (quarterly). 42 56 in V. , p. · . . NET E ARNINGS.-For qua rter ended Nov. 30, fifteen days approxiLonisvllle Raµ way _Co.-Thls company ~d~r a charter, which m a ted, w ere $227,000; surplus o ver int er est and dividend on preha~ been extended mdeflmtely _by the Legislat!}I e of Kentuc!rY, has a c• ferred $102 000 applicable to dividends on common qrured by purchase all the railways, properties and franchi ses of the ' ' . . · . . several companies opera.tin~ street railways in the cit y of Louisville ~qtECTOR --~on. J am es ~c:d:1llan, Detroit; Hugh McMillan, Detroit; and its suburbs. The franchises so acquired are _perpetual, except the William C. McMillan, Detroit; Frank J. Heck~r, Charles L. Freer, Wat f r anchise of the Louisville City Ry-. Co., which runs for 99 year s from son M. Freer; Hon. Russell _A.. _A.I gei;, Det r~~t; George R. T urnbull , April 3, 1886. The lines operated m 1891 and 1892 aa-gregated 112miles New York; Matthe w Addy, Cmcm11at1. (V. DD, p. 86.) of aouble and 21 miles of single track, of which 47 miles of double and 3 1'Iinnesota IJ.•on Co.-Owns about 14,270 acres of land and six miles of single tra ck by electricity; the remainuer b y mules. The real iron mines in St. Louis and Lake counties Minnesota. Owns also $500,· estate of the company is valued at $750,000. The consolidated mort- 000 stock, $400,000 1st mortgage bonds and $3,500,000 6 per certt gage bonds .were listed on the N . Y. Exchange in J tm e. 1892. Drvr- income certificat es of Duluth & Iron R ange RR. Co. Dividends-In .BENDS.-On preferred in 1892 5 per: cent. EARNING .-From J a n. 1 to 1890, 3 per cent; in 1891, 6; in 1892, Jan., 112 per cent; A.pril, 1 ¼; .July 31, 1892 (7 month ), gro earnmgs were$71 l,640; net, $269,052. July, 112; Oct., 112; in 1893, January, 112 p. c. Offices, Mills Building, For year 1891 total gross earnings were $1,188,822; n et over operating New York, and Chicago. (V. 54, p. 119.) e xpenses $406,030, against $381,716 in 1890. J . B. Speed, P resident. lliinneapolis Stre et ..Rail way .-see TWIN_ CITY RAPID CITY. J.U adls o n Square Gar d en.-uwns m fee t he block of land in New National Cord ~ge. -O~GL'UZATION.-Or~amzed under the laws or York City bounded by Madison and Fourth avenues and 26th and 27th New J er sey for the importation of h emp and tr;rn manufact11re and s ale streets, together with building thereon, cont aining theatre, amphi- o! cordage. On October 31, :1,89:1,, the propertrns owne~ and c~ntrolled theatre, etc. Stock, $2,000,000; par, $100. Ther e is a second mort . by the com~any wer e forty~nme m numper, and were situate~ m many for $750,000. In January, 1893, Mr. J. A. Bailey offered 30 for a con- States of t his country and m the proymces of Canad~. A. rival co~· t rolling interest in th" stock. It is sa id the earnings in 1892 sufficed to p any, t he J ohn G? od Co~·dage_ & Ma chmory Co., was m corporated m pay the interest $101 000 and general ex penses $6-1 000 but t hat in Oct ober , 1892, wit h capital of $7,000,000. 1891 there was i deficit ol$17,000. ' ' ' STOC KS.-Preferred i~ 8 per cent cumulative, and also has priority . over the common stock m respect of all property and assets in case of 1'Iaryland Coa_l Co.-Controls 6,000 acres of land m Alleghany liquida tion or dissolution. After the payment of 8 per cent cumulative and_ Garrett co~ties, Md. In 1891 _prod_uced 406,464 tons of coal, on the preferred stock and 12 per cent on the common stock a ny furagam t 357,117 m 189,0._ Net earnmgs m 1891 OVQr ex~ enses ana ther dividenda h ave to b e divided pro rata between the two classes,of ·ta,·x es we.re $102,588; dindends. (214 per c~nt) $9-1,500. In ?anuary, stock. Both common a nd preferred have the sa.me voting power p er 1893~com~an_y .decided to offer its. stockhoiders an op?ortumty to e~- shar e. No mortgage or bonded debt can be created except with t he oh.anoe their $4,2~0,000 ~ock for $2,000,000 preferred stock. T~s consent of 80 per cent of the preferred stock. See V. 52, p. 204, 279. :preferred stock will be entitled to 10 per cent 1f earned, and upon 1t In J an. 1893 it w as announced company would issue $ 10 000 000 t he company- propo es t o pay for t.J:te. present 5 per cent p er annul!l. common 'tock t o the prPsent co mmon stockholders as a scrip dividend See fullpart1cul~rs V. ?f?, P• 127. Dividends: In 18_9 0, 112 per ~ent; ~ of 100 p er cent, to r_e present ~bout $11,000,000 of assets acquired by 1891, July, 1 per cent, ill 1892, J an., 114 per cent, J_uly, 1 per cent, the company smce its format10n. A.ccordinot o a published st atement i n 1893, Jan., l14 per ct.- (V. 52 ,P· 238; V. 54, p. 36 o; V. 56, P• 127.) th e company will at the end of the firstflscal 0qua1·ter after tl1e distribu1'Iaxw-ell Land Grant Company.-Owns 1,714,764 acres in tion of the new stock d '3 clare a d ividend at the rate of 7 :por cent per Celorado and New Mexico containing coal, timber and land flt for aunum upon the increased common stock, ancl at the Rame t rme increase grazing and 3!gric_ultural purp ose~. (S_ee map in SUPPLEMENT of Mar ch, the dividend upo n t he preferred stock from 8 per cent to 10 p er cent. 1889, ?-Ild pr10r issues.) The pr10r llen bonds are payable at 110 at DIVIDENDS.·-On common stock_: In 1891, 9; in 1892, Feb., 212; May, maturity, or .redeemable at :par from proceeds or land sales. In 1891 212: August, 212; November, 3; ill 1893, F ebruar y, 3 p. c. Dividends ~terest w a s defa_ulted_and 1s .now _paid with prior lien bonds, or cer· 0n pr eferred 2 per cent qu arterly (8 per cent yearly) t o da te. See abo ve. t ifi.cates convertible mto prior llen bonds. Stock, £ 950,000. In PRICE OF STOCK.- Common in 1892, 91¼W1421a; in 1893 to Jan. 20 1890 land sales 18,409 acres, for $151,938. In 1889, sales 26,399 inclusive, 1353s'al l43 7s. acr es, for a.bout $170,818. (V. 53, p. 223; V, 54, p . 367.) Preferred in 1892, 100W123¼; in 1893 to J an. 20 inclusive, llO¼'lb Metropolitan Telephone &; Telegraph Company.-This 11812. company has exclusive rio-hts under a p erpetual license from the Bell ~ECURITY CoRPO_RATION OF NEW J ERSEY.- Organized Sept. 23, 1891, Televhone Company to the business of furnishing telephone service with cap ital of ~D0,00~, to take over th~ several extensive cordage within t he city of New York and its suburbs, its territory havina a ~orks purchaseq m t he m ter~st of t he ~ a t10nal Cordage Company late radius of 33 miles from the City H all in all directions. Stock $3 000 800 m 1891. I ts_ entir e p roperty 1s leased t ill Nov_ember 1, 1911, to the Na.t. (par , $100.) Dividen ds of at least 8 p. c. p er an.num {pa yabie quarterly Cordage, whic~ pays to t he mortgage tru~tee mg-old as rental $360,000 J anuary) , have been p aid since 1882. ' pur annum for m terest on the bonds and m addition $225,000 per an. . . . n um as sinking fund. The sinking fund increases with the payment of Metropolitan Traction Co.-T his corpora tion 18 orgaruzed un~er t he bonds, the inter est on t hose can celed a s well as the $ 225,000 p er the laws of the Stat~ 0 ~ New York f~r the purpose of controlling annum being applied to the purchase of bonds a t or undor par a nd inhor se r ailroad comparued m New York City. It controls by owner ship terest. Upon the :paymeut of all the bonds tile Na tional Cordage will of stock or by l ease the Broadway & Seventh A ven u~, t he Broadway own the property m fee. The bonds a re not subject to call before ma.a Surface, the 23d Street, Houston West S~reet & P avorua Ferry, t he ~th turity. Mortgage trustee is Manhattan Tru st Company. It is sa,id the A.ven ue, the 9t h A.ven1:1e, tho Metropolltan Cr osstown, the _B elt Lm e Security Corporation ear nino-s far exceed the int erest on its bonds To an~ t he South Ferr y ra1l_w ays,.all thesei except the T wenty-t htrd Street, J an. 21, 1892, $236,000 bon ll.s had been canceled by t h e sinking fund bemg leased f or converuen ce m operation to the H ouston West Street As to bonds see v 54 p 647 • & P ~voni~ Ferry. The f und-,d debts, stock s, etc.• of t he seyeral comANNUAL REPORT.-Fo'r the fiscal year endino- Oct. 31, 1891, t he r eport :pa.rues will be" found on a page at. th e back of this _SUPPL.Ii;; published in full in the CHRONICLE, V. 54, p. 247, m akes the following 1ENT Ulld~r. New Yor k and Bi o_o~ yn Street Railroads. statements concerning the pr oper ty. •· It will thns be Heen (by the state.rn ~8~H dividends were 4 per cent , m 189 2 , J anuary, _2 p~r ment of earnings below given l that n ot wit hstandina the severe oomcen t, m J uly, 1 p er cent. The compan y was reorganized lil petition durin"' the year and a declinino- hemp ma rket w hich still September, 1892_, under t he laws of New York State, and stock- fur ther roduce3. profits, the results of the business h a ve been fairly h olqer s voted to illCrease t he stock from $20,000,000 to $ 30,~0,000, satisfactory. Many of the properties now owned or controlled by the issumg 115 sh ares of new stock for each . share of old, and h oldmg the company, including all t he . mills in Ca nada, and several of the largest balance of the new stock1 $6,000,000, m t he treasury. See V. 55, p . mills in Boston and in the West and Southwest ca.me under its control 421._ New York office, 76.i Seventh avenue: (V. 53, p . 325; V. 54, p . about the 1st of November, 1891. Consequentiy the profits shown by 3 67 , V. 55, P , 167, 297, 421, 723.) the Financial Director's report m er ely repri:,sent the profits of the mills 1'.lexlean Telegraph.-Comp any organized in 1878 under laws of formerly owned by the company , w hereas now its manufacturin g oapir New York State. H as a.cable from Gal veston to Tampico and Vera Cruz, cit y has been very lar gely incr eased and its earnings should be in738 miles ; la.na line, Ve1·a Cruz to Mexico City, 267 miles. Also direct creased correspondingly." https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Hi8 .LN \TESTORS~ SUPPLEM fi;NT. LVOL. LVI. ~ubscrlbers -will conCer a great Cavor by glvln~ IJD.JDediate notice oC any error discovered In these Tables. MISCELLANEOUS. Fer explanation of column heading , &c., see notes on first page of tables. Bonds-Prinof INTEREST OR DIVIDENDS. pal, When Due Amount Date Size, or Par Outstanding RaCteentP.er When Where Payable, and by Sto~~s-Last of Dividend. Whom. Payable Bonds Value. - - - ---- ,-- - - - - ,- - - - ----- ------·------1 ------- . .. . Preferred stock (7 per cent, cum.) $15,000,000 aath . ... . . . . Debentures................................................ . .. . National Linseed Oil-Stock......... . ......... . ............. . .. . National Starch-Common stock ($5,000,000)............ . .. . 1st preference stock, cumulatiYe, 8 p. cent ($ 3,000,000) ... . 2d preference tock, cumulative, 12 p.cent ($2,500,000) ... . 1st mortgage,(for $4,500,000), gold..................... . 1890 New Oentral Coal-Stock................................... . . .. . National Lead Oo.-Stock, common, $15,000,000 auth'd, . New England Telephone <t Telegraph-Stock............... . Bonds, 1st and 2d Series, each $500,000 ................ c Bonds, 3d Series, subject to call after April 1,1901,at 102 Bonds, 4th SoTies,suhject to call after April 1, 1902,at 102 Newp01·t News Shipbuilding <t Dr)/ Dock.-lst wort . .. c*&r Chesapeake Dry Dock & Construction 1st mortgage.... New Yo1'k Biscuit Compani1-Stock...... .. . . . . .. . . . .. . . . . . . .. . '8 9-'90 1 91 1 892 1 90 1 87 . ... First mort, _gold, sinkin~_fond, not sul)j;ct...,.to call .. ·_;c&~ 1891 N.Y.Mut1tal1el.-Mutual uu.Tel.lstM., 0 ., 0 u.,notd1 n .c 1881 New Yo1·k <t New Jersey Telephone-Stock................ . ... ~:~: . f~$¥,~oo,ooo: ·g::s: r: $20:oc>'<> y•i·ii;noi.<ii-;i:i: ~ c:. is9o 0 N. Y. <t Perry Coal <t Iron Oo.-Stock. . . . . . . . . . . . . . . . . . . . . . . . ... • 1st mortgaae, gold, sinking fund-not subject to call .. c 1890 N. Y. cl Texas Land (Lim iled )-Stock. . . . . . . . . . . . . . . . . . . . . . . . .. . North American-Stock for $50,000,000.... ............. .. . . .. . . ...... . .... .. ... . ..... $100 $14,90-!,0ijO .... 100 14,905,000 7 per an. Q.-M. Dec. 15, 1892 N. Y., 1 Broadway. In 30 years. .. . .... ... ..... 6 {1) 100 18,000,000 See text. Q.-F. Au~. 1, 1891 <::hl~ago, Office. 100 4,450,700 8ee text. ..... N. Y., Office, 29 B'way. Mcn.15, 1891 ~ov. 2, 1892 do do 100 2,219,400 8 per an. M. & N. Jan. 1, 1893 100 do do 1, 46,800 12peran J. & J. 1,000 6 g. 1\1. & N. N.Y.,ChaseNationalBk. May 1, 1920 3,837,000 Moh. 1, 1892 100 New York Office. ... .. 1 5,000,000 Nov.15, 1892 100 10,394,600 See text. Q.-F. Boston, 125 lmlkSt. 1,000 A. & 0. Boston.Bank of Repub. Apr. '99-1900 6 1,000,000 Apr. 1, 1906 do do A. & 0. 1,000 6 500,000 Apr. 1, 1907 uo no A. & 0. 6 500,000 Apr. 15, 1990 1;000 2,000,000 New York. 15 J.&J. 5 Apr. 15, 1937 100 New York. J. & J. 5 600,000 Dec., 1892 1,000 Chicago, Ill. 9,000,000 See text. Quar. 1,000 6 g. M. & S. N. Y., Kountz~ Bros. ] Moh. 1, 1911 1,500,000 1,000 6 g. M. & N. IN. Y., West. Umon Tel. May 1, 1911 1,978,000 100 2,535,000 6 per an. Q.-J. Brooklyn, 16 Smith t. Jan. 16, 1893 100 &c. M. & S. N. Y., Nat. Park Bank. I Mell., 1895 6 472,500 1,000 5 g. M. & N. N. Y., Atlantic Tr. Co. Ma y 1, 1920 824,000 New York, 2 Wall St. Feb. 10, 1888 100 3,000,000 See text. . ... . 1,000 6 g. M. & N. Nov. 9 2 coup. unpaid. May 1. l..920 600,000 (1) .. ... N.Y.,J . . Wetmore2Wall 50 (1) 1,500,000 ...... .. .. ..... .... 100 l 39,767,200 BALANCE SIIEET-E.\.RNINGS.-Fiscal year ends October 31. Profits in year 1890-91 and balance sheet Oct. 31, 1891, were as follows: LIABILITIES. ASSETS. :Merchandise ....... $3,143,793 06 Acc'ts and bill, pay. $4,712,806 60 Preferred stock.... 5,000,000 oo Accounts and bills receivable...... . . 2,657,576 04 Common stock ..... 10,000,000 00 ·540,251 04 Surplus accotmt.... 3,706,313 00 Cash................ ----Real estate, buildTotal liabilities.$23,419,120 14 ings, machinery and leasel.Jolds ... 17,077,500 00 PROFIT .A.ND LOBS ACCT. FOR '90-91. Profit on operations $1,406,313 45 Total assets .... $23,419,120 14 Dividends paid..... 1,300,000 00 $106,3l 3 45 Balance surplus. DIRECTORS.-James M. Waterbury, Frank T. Wall, Chauncey Marshall, John A. Tucker, G. Weaver Loper, E. M. Fulton, Jr., John C. Furman, and two vacancies. Pl'esident, James M. Waterbury, New York office, 134 Front Street. (V. 52, p. 204, 279, 642, 899; V. 53, p. 2119 325,713; V. 54, p. 34,243,643,647,725,996, 1035; V. 56, p. 127.) National Lead CoJnpany .-ORGANIZATION.-Organized under the laws of New Jersey on Dec. 8, 1891, as succe or to the National Lead Trust. It controls 26 extensive plant in different States for the manufactlll'e of white lead and other product . Seo V. 55, p. 462, concerning UncklPs' uit. The company has $30,000,000 capital and $3,000,000 of 6 per cent 30-year eebenture bonds. The preferred stock carries 7 per cent dividends per annum, to be cumulative. About $2,500,000 of the debenture bonds were to be used for working capital in carrying on the various enterprises of the Trust, but none had been issued up to Sept. 10, 1892. See V. 53, p. 156, 290, 640, 880. Consolidation with the National Linseed Oil Co. is talked of. V. 55, p. 765, 1035; V. 56, p. 42. ANNUAL REPORT.-Fiscal year ends Jan. 31. Annual meeting is held on a Thur day in February. The fir t annual statement of the Oompany will be made in February, 1893, the statement below being that made by the old "Trust." The report of President W. P. Thompson for the year ending Jan. 31, 1891, (CHRONICLE, V. 52, p. 237) gave the Trust's assets as follows: Plant $17,992.989; other investments, $459,235; net working capital, $5,765,414; other net assets, $1,142,486; total, $25,360,124, against $22,361,900 on Jan. 31, 1890. Net earns. in year 1890-91, $2,028,552. DIVIDE}."D .-The Lead Trust paid dividends on its $90,000,000 of stock as follows: In 1891, April, 12 of 1 per cent; July, 12 of 1 per cent; Dec., 30 oents per $100 share. The new company has paid: On preferred in 1892, March, 134 per ct. (quarterly); Jtme, 134 ; Sept., 134 ; Dec., 134 . PRICE OF STOCK.-Common-In 1892 3058'@ 5158 ; in 1893 to Jan. 20 , inclusive, 4412'ci>51½. Price of preferred stock-In 1892, 811i>995s; in 1893 to Jan. 20, inclusive, 9234 '@96. DmECTORS.-W. P. Thompson, A. T. Goshorn, F. W. Rockwell, L. A. Cole, R. R. Colgate, Simon Beyiner, A. P. Thompson, D. B. Shipment, Georfte O. Carpenter, Jr., Edward I<'. Beale, Jr., John w. H. Thompson, H. McKelvy a nd R. P. owe. OFFICERS.-W. P. Thompson, of New York, President; L.A. Cole, First Vice-Presiuent; F. W. Rockwell, of Ea t Oran"'e, N. J., ocond Vice-Pl'esident; J. L. l\IcBirney, Trea~urer; Cl1arles Davison, of New York, Secretary. N. Y. office, No. 1 Broadway. ( V. 53, p. 156, 290, 604, 640, 880; V. 55, p. 462, 76.3, 1035 ; V. 56, P- 42.> National Linseed Oil.-This company, incorporated in 1890 under the laws of Illinois, has acquired all the property of the Linseed Oil Trust, consisting of the real estate, machinery, patents, etc., of 52 oil works situated in 42 cities of the United States, includin.,. Chicago, St. Louis, Minneapolis, etc. It product is both linReed oil and ofi oake-used for stock food and fertilizer-and it i said to employ in the ruanufactlu-e of these from 60 to 70 per cent of the country's annual crop (of ten to thirteen million bushels) of flaxseed. Fi cal year euds June 30. Report for 1890-91 wa in V. 53, p. 223, llowing net loss from operation of $20,462. After writin~ thi off and paying cliYidends Nos. 10, 11, 12 and 13, aggre~ating ;i:,720,000, the company had $4.53,294 in undivided earnings ana. its original capital intact. In year ending June 30, 1 90, net earnings were $1,201,405, or equal to 6·67 per cent on stock. Stock li ted in New York in Se11t., 1890. See full statement in V. 51, p. 348; V. 53, p. 223. Consolirlation with National Lead Co. was proposed in October, 1892. (See V. 55, p. 765, 1035.) DIVIDENDS.-tn l8 9 0 2 per cent i in 1 91 , Feb., 1 ; May, 1 ; Aug., ¼ of 1 per cent; since, prior to Sept. 10, 1892, none. DIRECTORS.-Alexander Euston, .President; R. D. Huh bard, w. P. A . o . H a 11 , J . A . u-·1 . .. 1 0 n'_: H . S . G rove, A . C. All b ott , M arcus S1mpson, lara, P. C. Hanford, T. G. McCulloh, Secretary and Treasurer. N. Y. Office, 81 John Street. V. 55, p . 765, 1035. National Stai·ch.-Incorporated in February, 1890, under the laws of Kentucky, and owns properties capable of producing from 230 to 240 million pround of starch yearly. The twenty concernR whose plantF:, trade maTks, patent , bu iness and good will it purcha eel were located in the States of New York, Ohio, Indiana, Illinois, Iowa and Kan. as. The preferred stocks have preference as to principal a. well as dividends. The bond were issued at a rate not exceeding 75 per cent of the company' real estate. The good ·w ill of the concerns, &c., is represented by the common stock. on April 28, 1 92, there were in the company's tl'easury $549,300 common stock, $7 0,600 first preferred and $653,200 second preferred, and $663,000 tirst mortgage bond . DIVIDENDS on preferred stock have been paid in full to date; common stock paid in 1891, March, 1 per cent; 1892, March, none. ANNuAL MEETING is held on first Wednesday in February. DJRECTORS.-Hiram Duryea, President; William Duryea, Che ter W. Chapin, Horace K. Thurber. Cilarles C. BurnF:, ecretary and Treasurer; https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I I ....... . A. Gera.ty, John Duryea, Edgar E. Duryea, James K. O. SherIDavid wood, Martin F. Lontz, Willett H. C. Cole, James A. Rumrill, Albert Ei;k~nbrech~r, Cliffor~ B. Wright, Henry R. Wood, Martin Cu~inger, William F. Piel, Jr., Richard Johnson, A. R. Beard ley, Fred M. Gilbe1 t , and one vacancy. New York office, No. 29 Broadway. (V. 54, p. 643. ) Ne-w Central Coal (lUd.).-The annual report for 1890 in V. 52, p. 202, showed net :profits for year of $47,082, against $6,108 in 1889, a.nd balance to credit of profit and loss December 31, 1890, of $248,654, against $213,321 December 31, 1889. Dividends since 1880-In 1881, 2 per cent; in 1882 and 1883, nil; in 18 4, 1; iri 1885, nil; from 1886 to 1888 inclusive, 1 per cent yearly; in 1891, 1 in 1892, March 1. (V. 52, p. 202.) N e,v England Telephone & Telegraph.-This company does a telephone business in Maine, New Hampshire, Vermont and Massachusetts under license from the American Bell Telephone Co. On .January 1, 1892, it had 19,576 subscribers and exchange offices in 96 cities or villa~es. Stock $12,000,000, of which, on March 1, 1892, $1,605,000 was m the treasury. The bonds were issued for improvements, placing the wires underground, etc. Dividends-From 1886 to November, 18921 rate of 312 per cent per annum, three dividend yearly being for 75 at cents, and one (paid February 15 in 1892) for $1 ·25. In 1891 the net earnings over all expenses and interest charges were $369,000. Newport News Shipbuilding & Dry Dock Oo.-Organ ized under an act of Virgmia of January 28, 1886, as amended February 17, 1890. The stock is $2,000,000. The company owns sixty acres of land with water front, and has laTge plant, costing $561,954 for the dry dock and crib work, and over $2,750,000 for the other property, as stated to the Stock Exchange. The Chesapeake Dry Dock & Construction mortgage covers the dry dock as a fir t lien and the ,.ewport News Shipbuilding & Dry Dock mortgao-e is second to this. See statement to New York Stock Exchange in 5HRONICLE, V . 53, 'p. 716. (V. 53, p. 713, 716.) New York Biscuit Company -Thi company is incorporated under the laws of lliinois, and owns and leases property in New York City, Chicago, Cambridgeport (Bo ton), Des Moines, Ia., Denver, Col., &c., 13 citieR in all. The real estate, buildings, patents, machinery, etc., were valued in balance heet Jan. 1, 1 92, at $7,64 ,031; con truetion account at $1,209,7-!7; merchandise accounts receivable, etc., at . 1, 91,291. Trustee under the. mortgage is the Central Trust Co. of ~ew York. Sinking fund, $50,000 a year. Dividend from October 1, 1 90, to Jan. 1, 1892, both inclu i ve, 11 p. c. per annum; in pril, 1892, 1; July, 1; October, 1; December, 1 per cent. Certified profits in 1890, $5 5,889; interest on bonds will be $90,000. In 1891, 363,654 barrels of flom· were used. Treasm·er, G. P. Johnson, 157 Duane Street, ~ew York. Main office, American Express Building, Chicago, Ill. New York IUntnal Telegraph.-Snccessor to the Mutual Union Telegraph Company. The stock carries dividends of 6 per cent per annum under a lease for 99 years from February 15, 1 83, to Western Union Telegraph. The Western Union gives it collateral, trust bonds in exchange at par for the stock and bonds of this company. New York & Ne,v Jersey Telephone.-Operates telephone lines under perpetual license from the Bell Company in taten I land, Long I land (including Brooklyn), in Monmouth County, N. J., and in f "Te y k c·t ·1e 1 · er ·thin 33 J · d 0f N I!~ totaf!ub eJ:~rf1~n January 11:11\ 9{ ;er"! 9~J44 (o~ 1, 1891. Of January on 8,691 against Island), Long in which 4,487 the general mortgage bonds ufflcient are reserYed to take up the first mortgage at maturity; Trustee General Mortgage Atlantic Tru t 79,044; net, $151,154; Co. In year 1891 gross earnings wore taxes and interest. $87,894; dividends, $152,100; deficit, $88,840; the storm in January, 1891, having done ~reat damage to the property. In year 1890 gross, $848!927; net, $340,569; taxes, interest and dividends, $219,304; surplns mcome, $126,26!. Total surpln to Dec. 31, 1891. $412,123. Dividend,; in l 92, Jan., 112 per cent; April, 112; July, 112; October, 112; in 1893, Jan., 112 per cent. New York & PeI"ry Coal & Iron Company.-Own 6-10 acre, controls 800 acres and lea es 430 acres of coal and iron land in Hock:iug Valley region at Shawnee, Perry County, O. Has five coal mines and two bla,t furnaces. The November 1892, coupon went unpaid. For fnll statement to New York Stock Exchange on Jan 22, 1891, ee V. 32, p. 206. Dividends-In 1887, 412 per cent; in 188 , 1. Office, 2 Wall street, N. Y. (V. 52, p. 20-!, 206; v. 53, p.21.) New York & Texas Land.-This company took the lanu granted t-0 the International and Houston & Great Northern railroads, about 5,000,000 acres. On June 30, 1888, had 2,287,497 acres unsold. There ts $980,000 of land scrip receivable. for lands at 75 per cent of its face. North American Colllpany.-ORGANIZATION.-This company wa organized in 1890 under the law of the State of New Jersey, as succes or to the Oregon & Trans-Continental Company in liquidation. It wa" to operate in two SJ?ecial fields-one that of railroad flnanciertng, tlle other that of promotmg- electric light and power enterprises. See V. 50, p. 875. The company's as et on May 31, 1 92, are hown below. The annual r port for 1 90-91, extract from which are also given below, how the company's operations thu far to have l)een principally in the way of establishincr a street railway system in Milwaukee and electric lightin~ plant in Milwaukee and Cincinnati. The Northern Pacific and similar securities were mostly acquired from the Oregon & Trans-Continental. At the time of the Baring crisis the company' hold· ings of such securities were much reduced. MILWAUKEE STREET RAILW A y AND ELECTRIC LIGHTING.-The North American Company has organized the Milwaukee Street Railway Co., with capital of $5,000,"00 of which the North American Co. on May 31, 1892, held $2,887,000, to control and operate all the street railway peaking of this company, and also of its electricline!' in Milwaukee. ~~fm JANUARY, MISCELLANEOUS STOCKS ilD .BONDS. 18~3.) Hi9 Subscribers 'Will conf'er a great t"avor by giving hnmedlate notice ot" any error discovered In these Tables. Bonds- PrinclINTEREST OR DIVIDENDS. MISCELLANEOUS. - - - - - - - - - - - pal,When Due. Am0tmt Date Size, or Outstanding Rate per When !Where Payable, and by Stocks-Last Par For explanation of column headings, &c., see notes on of Dividend. Whom. Bonds Value. _ _ _ _ _ _ Cent. Payable first page of tables. 1- - - - - - ----·1 ---- North Hudson Ooimty ( Street) R'y-lFit mort_; age .......... Consolidated mortga&e ($3,000,000) ................... c* isss Debenture 6s, for $5 0,000 ............................... 1892 N01·thwest Equipment-Stock ................................ Northwestern Tel.-Stock, 4 rising to 6 p.c., guar. West.Un. 1st mort., sink. ftmd, bonds not drawn, interest guar.cy Ohio Falls Oa1· Manitfcictu1·ing Go.- Common stock ...... i874 Preferred stock, 8 per cent, cumulative, gold ........... 1st M .. gold, $20,000 per an., subj. to call at 105 ... c*&r i892 Ot·egon 1~ rovemenf Oo.-Stock, common ·.· ............... Preferre stock, 7 per cent, non-cumulative ............. 1st mortgage, gold, sink. fund 1 pc. yearly. See text •• isso Consolidated mort&'age for $15,000,000 .............. ex 1889 1 Pacific Mail Steamship-Stock . ............................. 1st M. for $5,000,000, subject to call at 110 and int .. c• PennS1Jlvania Goal-Stock .................................. Peo1·ia Wate1·-Ist M., g., red. aft. Nov. 1, 1899, at 105.c* Philadelphia Oompany-(Natural Gas) Stock .............. lstmortgage,sinking fund $250,000 yearly,not drawn.c* P. Lorillm·d Oo.-Common stock ........................... Stock, ~referred, 8 feer cent, cumulative ................. Postal Te egraph Gab e Oo.-Stock ..................•....... i890 i889 isss $1,000 $625,000 .J. & J. Hoboken, Co.'s Office. 6 1,000 2,375,000 IJ. & J. IHoboken,N.J. lstN.Bk. 5 1,000 300,000 F. & A. Hoboken, Co.'s Office. 6 100 3,000,000 See text. Q.-F. N. Y., Office, 36 Wall St. 2,500,000 See text. J. & J. N. Y., West. Un. Tel. Co. 50 500 1,180,000 do do J. & J. 7 100 400,000 N. Y., Maiti;a.;·Phelps. 100 g. 800,000 1,000 600,000 6 g. A. & 0. New York City. 7,000,000 100 1 100 327,800 7 per an. M:·&·· S. N. Y.Of.:·2z°Wflliam St. 1,000 4,369,000 6 g. J. & D. N. Y., Farm. L&. Tr. Co. 6,549,000 1,000 A. & 0. do a.o 5 100 20,000,000 See text N~·Y.-Office. 1,000 N oneN ov. '92 6 g. F. & A. 5,000,000 16p. aru1 Q.-F. New York, 1 Broadway. 50 1,254,000 1,000 6 g. 1\1. & N. N. Y., Atlantic Tr. Co. 7,500,000 See text. ..... Pittsburg,820 Penn Av. 50 174,000 1,000 J. & D. N. Y. City, Mere. Tr. Co. 6 100 3,000,000 See text. F. & A. N. Y., Baring, Magoun. 2,000,000 8 p. ann. Q.-J. 100 do do 10,000,000 llghting plans, the company's annual report (V. 54, p. 1007) states that: ".Exclusive licenses and patent privileges were acquired from the Edison companies for the operation of electric railways and the furnishing of electric light and power for Milwaukee and the adjacent districts, and also city ordinances granting franchises covering all toe important street and points in the city, constitutin,2: assets and conces sions of great value. During the past year this company has contracted for the purcha e of the remaining: treet railway lines in operation in Milwaukee, including the West Siae Street Railway-a road of lar"'e ea:rning capacity-so that the Milwaukee Street Ra,ilway Company and' this company together now own and control the entire street railroad system in that city, embracing, at present, over 100 miles of operated track. * * * It i confidently believed that the entire railway and lighting system as now planned will be completed by October 1, 1892. * * * The company does all the street lighting for the city, under a satisfactory contract entered into la t November, which continues for four years. * * * The entire railway sy tern of the company when completed will comprise not less than 140 miles of track." CINCINNATI EDISON ELECTRIC COlllPANY.-This company, the report states, was organized under the laws of Ohio by a syndicate, of which the North American Company is a member and the representative, with a capital stock of $1,000,000, for the purpose of establishing an extensive central station electric plant and of securing a large electric lighting busines:1 in the city of Cincinnati and its suburbs. The entire work of establishing this plant was to be completed before Dec. 1st, 1892. This company ha secured the contract for the public l1ghtin~ of the entire city of Cinci.Bnati for eleven years. Thi contract carries with it also a valuable franchise for commercial lighting for the term of twenty years. CAPITAL STOCK.-The North American authorized capital is $50,000,000, of which only $40,000,000 has heen i sued, this having been exchanged, share for share, for stock of the Oregon & Tranf.'l-Continental. PRICE OF STOCK.-In 1890, 71i>473s; in 1891, 11~1i>211-s ; in 1892, 91s1i>l8 7 s; in 1893, to January 20, inclusive, 101ill15s. .A.NNuAL REPORT.-Fiscal year ends May 31. Annual meetin~ is held in Jersey City on third Wednesday in June. Report for 1891-9~ in full in V. 54, p. 1007, showed the following : INCO:YE ACCOUNT FOR YEAR E1fl)ING l\lA Y 31, 1892. Cash from intere t, div'nds, commissions and all oth. sources. $418,119 Payments for intere ton loans ....................... $220,53 51,707 All expenses of admini tration, including taxe . . .. Total.......................................................... 271,246 Net cash income ............................................ $146.873 ASSETS AND LIABILITIES.-The company's assets, as reported on May 31, 1892, are given in the table below. The total value of these assets, as estimated by the company, using Stock Exchange prices and "conservative" valuations, was placed at $10,718,512, a"'ainst whlch were liabilities of $2,846,822, leaving net a sets of $7,871,690. The bills payable here included are in the form of lon~-time loans, carried on fixed terms, against the security of Milwaukee i:street Railway a,n d other Ull.listed bonds. Stocks owned. Par value. Northern Pacific, com .. $7,450,200 533,000 Chicago & No. Pacific.. 32,500 Wisconsin Central, pref. 216,200 Edison Gen'l Electric.. 90,100 St. Paul Edison Electric Milwaukee Street R'y.. 2,887,000 Cin. Edison Electric & 333,300 Queen City'Elec. Co's. Bonds oioned. Pa1· value. 1'-orthern Pacific consols. $604,000 Chic. & No. Pacific lsts.. 276,000 Wisconsin Cent. incomes 45,333 Milwaukee Street R'y 5s.3,276,000 Minn. Lyndale & Minnetonka Street R'y 5s.... 699,000 Cicero & Proviso R'y 6s. 145,000 Miscellaneous Assets. Advan's under contract West Side St. R'y, Milwauwith T. A. Edison and kee, paid on purchase .. $301,350 Edison Gen'l Elec. Co. Milw. St. R'y, ad van's for for inventions, etc .... construction . . . . . . . . . . . . 626,358 $52,701 Secured accounts ......... 753,186 Int. & div. acc't, bal'ce. 184,207 Bills receivable........... 175,151 Cash in bank & tr. co's. 912 , 080 Miscellaneous securities .. 357,472 Tot. miscell'us assets.$3,362 505 DIRECTORS.-Henry Villard; George S. Jones; Thomas F. Oakes; C. W. Wetmore; 8. W. Burt; J. Hobart Herrick; D.S. Wes-g; Chas. A. Spofford; Henry C. Payne. Pre ident, Henry Villard; Vice-President Geo. s. Jones; Secretary and Trea urer, Edward Edes, New York Office, 15 Broaa St. (V. 54, p. 845, 100'7; v. 55, p. 1110.) North Hudson County (Street) Railway.-Owns 32 miles of street railway and elevated cable lines, operated by steam, horse power and electricity in Hoboken, N. J., and vicinity. Electricity is bein~ introdu ed on l.Joth surface and elevated roads. For the $625,000 of 6 per cents due January, 1914, a like amount of consols is reserved. Stock authorized, $1,250,000; out tandi g. $735,000; par value, $25. A stock dividend of 40 per cent was paid in July, 1892, to represent surplus earnings expended on the property. In 1891 gross earnin"'s were $763,816; net, $197,804; interest on bonds, $120,408; dividend's, 8 per cent, $38,186; balance, surplus, $39,210. Northwest Equlpment. -OwnR railroad equipment costing $3, 0001000, lea6ed to the Northern Pacific Railroad. The rental is 7 per cem; i;>er _annum on the cost of the equipment and 10 per cent yearly to the smking fund. October 1, 1898, when the lease terminates, the Equipm ent Company will be paid out of this sin.king fund the original cost of the eqwpment, which will then become the property of the lessee. See statement to New York Stock Exchange in full in CHRONI CLE, V. 50 , p. 73. Stock paid in 1890 634 per cent; in 1891, 7; in 1892, F~bruary, 214, May, 112; Au~st, 112; November, 112; in 1893, February, 2 14 per cent. New York vfflce, 36 Wall Street. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ,f.:.:j. I ..... Jan. 1, 1914 July 1, 1928 Feb., 1902 Feb. 1, 1893 Jan. 2, 1893 Jan. 1, 1904 New. Jan. 1, 1893 Oct. 1, 1922 Aug. 1, 1890 Sept. 1, 1892 Dec. 1, 1910 Oct. 1, 1939 Sept. 15, 1887 Aug-. I, 1908 Feb. 1, 1893 Nov. 1, 1919 Dec. 31, 1892 Dec. 1, 1898 Aug. 15, 1892 Jan. 1, 1893 Northwestern Telegraph.-Owns 8,000 miles of wire and is leased to Western Union for 99 years, with guaranteed dividends. rising 18 p. c. a year to 6 in 1897 and afterward. Bond interest is guararanteed. Ohio Falls Car Manufacturing Co.-Incorporated under the laws of Indiana in 1892 as successor to Ohio Falls Car Co., establi hed in 1865. Located at Clarksville, near Jeffersonville, Ind. See adv. CHRONICLE of Oct. 22, 1 92, and Maitland, Phelps & Co., 24 Exchange Place. Fir t dividend on preferred was paid in January, 1893. Oregon Improvement Company.-This company controls th& Pacific Coast Steamship Company (owning $1,985,000 of its $2,000,000 stock) and operates five steamship lines runnin.,. between San Francisco, Portland, Victoria, Sitka, Fort Bragg, §an Diego, &c. Alsolargely owns the securities of the Columbia & Puget Sound Railroad (narrow gauge), Seattle to Franklin, etc., mines, with sidings~ etc., 57 miles; and the Pacific Coast Railway (narrow gauge), Port Harford, Cal., to Los Olivos, 80 miles. The Seattle & Northern Railway1 Anacortes to Hamilton, Wash., 36 miles; the Port Townsena Southern RR.; Port Townsend to Quilcene, Wash., 28 miles, and Olympia to Tenino, Wash,, 15 milel!!; also operates the Seattle Coal & Transportation Co. with its New Castle mine, and the Franklin Coal Co. ownin!l the Franklin mine. (See V. 51, p. 570, 747.) Company a,lso, has some ;:$,688 acres coal land. HISTORY.-Defaulted in Dec. 1890, on 1st mort. coupons, and Joseph Simon was appointed receiver. A chan~e in the management followed, Mr. W. H. Starbuck became President, the receiver was discharged, and the overdue coupons were paid. In March, 1892:, dividends were resumed on the preferred stock. See V. 52, p. 351; V. o4, p. 288. STOCK.-Preferred stock may be exchanged for consol. 5 per centson the basis of 105 and accrued dividend for pt'eferrcd stock and 9(), and accrued interest for the consolidated 5s. See V. 52, p. 321, 643. DIVIDENDS-On preferred stock (issued in 1888)-In 1888, 312; from March, 1889, to September, 1890, at rate of 7 per cent yearly; then none until 1892, when 312 in March and 312 in September. On common -In 1883, 712; in 1888, 112; in 18 9,412; in 1890, in February, May and August, each 1 per cent; none since. See V. 51, p. 570. B •NDS.--Under consol. mortg-age for $15,000,000 (trustee, Farmers• Loan & Trust Co.), 1~onds are reserved to retire the preferred stock and the first mortgage bonds not in the sinking fund. See V. 54, p. 484. The fir t mortgage bonds by their terms were subject to call for the inking fund at par if not purchasable at 106, but rn January, 1893, it was proposed to cancel the sinking fund provisions. See V. 56, p. 42. LATEST EARNINGS.-Dec. 1, 1891, to Nov. 30, 1892 (12 months), gross, $3,891,976, against $4,300,961 in 1890-91; net, $759,•l20, against $829,691. ANNU~ RI<.:PORT.-Fiscal y_ear ends November 30. Report for 1 9091 was m V. 54, p. 484, showmg: EAIUHNGS AND EXPENSES (ALL C01IPANIE ), 1891. 1890. 1891. Gross. Gross. Yem· ending Nov. 30Net. Pacific Coast BS. Co .................. $2,981,345 $2,825,840 $506.934 193,957 155,490 Pacific Coast Ry. Co.................. 91,899 333,044 126.240 397,656 Col. & Pug-et Sotmd RR. Co.......... 62,307 .. . . . . Seattle & Northern Ry. Co........... 24,66938,001 10,474 Port Townsend Southern RR. Co .... 6,147 206,141 179,123 Steam Colliery & Steamship......... 39,430 598,345 663,479 Coal Department..................... 88,847 43,325 20,255 Real estate and miscellaneous....... 25,333 Total earnings .................... $4,407,822 $4,300,960 $909,499 INCOME ACCOUNT (ALL COMPAlHES). 1890. 1891. Net, after deducting taxes, etc .................. $704,745 $829,690 Income from investments, &c...... . . . . . . . . . . . . . 136,563 14,357 Net income .................................... $841,308 Interest on bonds ................................. $332,303 Other intere t, &c. .. . . . . .. . .. ........ .. . .. . . .. . . . . 68,497 Sinking ftmd...................................... 50,000 $844,047 $553,793. 75,344 50,000 $679,137 Total charges ................................. $450,800 $164,910 Balance surplus ............... _.................. $390,508 DIRECTORS-The directors are: W. H. Starbuck and C. B. Tedcastle, of New York; F. H. Prince, of Boston; C. A. Dolph, Willfam M. Ladd, Henry Failing, Joseph Simon, C.H. Lewis and Jonathan Bourne, all of Portland; M. V. B. Edgerly, of Springfield, Mass; and C. J. Smith, ot Seattle, Wash. W. H. Starbuck, President; C. A. Dolph, Vice-President; C. J. Smith, General Manager. New York office, No. 22 William Street. (V. 54, p. 288, 4~4, 643, 1048; V. 56, p. 42.) Pacific lUail SteaD'lship.-The trans-Continental railroads give to this steamshl:p company a guaranty of $75,000 minimum per month for space taken m its steamers, in consideration of the maintenance of agreed rates; see V. 55, p. 257. As to action in 1892 and 1893, concerning proposed renewal of contract with Panama Railroad, etc., see V. 55, p. 374, 723, 996, 1111. In year 1891-92 two vessels were rebuilt and two new ones constructed. .All the company's available funds and its earnings for five or six months of 1892-93 have been applied to these objects. The President says : "We will in a short timebe able to apply our earnings to the payment of dividends." BONDS.-The mortgage for $5,000,000 was authorized for reconstruction of fleet on the China line; Trustee is Central Trust Co. Th&- • mortgage covers all the company's franchises, shares of stock in the China . S. Co. limited, and other property, real or personal, includin 60 INVESTORS' SUPPLEMENT. LVOL. LVI, Snb cribers ,vill conCer a great favor by giving iln1nediate notice of any error discovered in these Tables. MISCELLANEOUS. INTEREST OR DIVIDENDS. Bonds-PrinciDate Size, or Amount . pal,When Due. For explanation of column headings, &c., see notes on Boonfd~ Vpalaure. Outstanding Rate per j When Where Payable, and by Sto~k~-Last first page of tables. " Cent. Payable Whom. D1V1dend. -----------------------1 ~ Gamble.-Common stock ........................ . PrefeITed stock (8 per cent cumulative) ............ . ... . First M.,gold,subject to callatllOafter July 1, 1900.c* PullmanPalace Oar-Stock ................................ . (luicksilver Mining-Common stock ....................... . Preferred stock, 7 per cent,not cumulative ............. . R!y Equip. Oo. ofMinn.-lstM., g., $50,000 red. yly at 100 -Rliode Is"landPe1·kins Horse Shoe-General (com.) stock .. PrefeITed, 7 per cent cumulative ........................ . St. Paul Oity Railway-See TWIN CITY RAPID TRANSIT. Southern cf: Atlantic Teleg1·aph-Stock (guar. 5 per cent) .. Sout"'!,ern Ootton, Oil-Stock ($5-'0~0,000 author~edl, .. ;, .. 8terlingironcf:Ry.-Mort. bonus,mc.,7p. c., senes B .. c Plain income bonds, 6 per cent .......................... c sterling Mountain R'y.-lst mort. income, 7 p. c. guar. Sunday Oreek Goal-1st M., g., s. f., subj. to call at 105.c'' Tenn. OoaZ I. cf: RR. Oo.-Common stock ................... . Preferred stock (8 per cent cumulative) ................ . :t'Tenn. Coal & RR.-Tracy City 1st and 2d mortgages ... . Co:naolidated mortgage ...................... ... ..... .... ,f>'rocter i ..... ·--1890 ..... ..... . ..... 1891 ..... .... ... $100 100 1,000 100 100 100 $2,250,000 2,250,000 2,000,000 30,000,000 5,708,700 4,291,300 900,000 1,000,000 1,750,000 ---100 100 25 100 ---1880 500 &o. 1876 1,000 1881 1,000 1892 1,000 100 ---100 ---1879 200 &c. 1 81 1,000 12 8 p. ann. 6 g. 8 p. ann. See text. See text. 6 g. See text. 7 per an. Yearly. Q.-J. J. & J. Q.-F. . .. . . ..... J. & D. Q.-J. Q.-J. N. Y., A. M. Kidder & Co. Aug. 15, 1892 948,875 5 pe.r an. A. & 0. 4,000,000 See rem. . . . . . 418,000 495,575 475,674 1 ..... 4.00,000 6 g. J. & D. 19,850,000 1,000,000 8 per.an.?, .&.. J. 148,000 6 1 A.. & 0. 29,000 6 jM, & N. N. Y., West. Union Tel. Jan. 1, 1893 Philadelphia, Office. June 10, 1892 Apr. 1, 1894 N. Y., ~~.~~•.~~.Wm. St. Oct. 1, 1896 N. Y., Office, 45 Wm. St. July 7, 1895 New York City. Dec. 1, 1912 . ~. Ii:~: i do do Jan. 15, 1893 N.Y.,MercantileNat.Bk July 1, 1940 N. Y.,Farm.L.&Tr.Co. Feb.15, 1893 . . . . . .. June 1, 1882 N. Y., or:, 20 Nassau St. June 2, 1891 N. Y., Maitland, Phelps. Jun'93to1901 Co.'s Office, Providence Jan. 14, 1893 do do Jan. 14, 1893 N. Y., 4th Nat. Bank. Jan: .i6~ .i893 N. Y., Mechanics' Bank. Apr. 15, 1894 do do Nov. 1, 1901 i its present :fleet of vessels and seven vessels to be constructed subse· Q.Uent to the making of the mortgage, and all other property acquired with the proceeds of the bonds. As a sinking fund for the first $3,· 000,000 of bonds to be issued, $100,000 is to be paid to the trustee each Feo. 1 and Aug. 1, and upon the issue of any of the remaining $2,000,000 of °Bonds a further proportionate sum, all to be applied to the puroha e of these bonds at or under 110 and interest or to their re• demption when drawn by lot at 110 and interest. The company bas the further right to redeem any or all of the issue at the same rate. DIVIDENDS since 1880-Tn 1884, 334 per cent; in 1885, 5; in 1886, 114; in 1887, 1; in 1888 and since, nil. ANNUAL REPORT.-Fiscal year Einds April 30; report for 1891-92 was in CHRONICLE, V. 54, p. 8 8 6, 1888-89. 1889-90. 1890·91. 1891-92. Atlantic lines ............... $777,435 $683,488 $697,291 $68,i,870 Panama lines ............... 2,006,894 2,186,352 2,262,638 2,363,613 Trans-Paci::flc line .......... 1,201,580 942,143 1,107,601 1,082,936 ·Subsidies................... 100,267 103,000 103,000 103,000 ,Interest and dividends..... 32,138 17,094 33,463 25,729 Miscellaneous.............. 42,743 133,591 94,578 149,114 Pull1nan's Palace Car Co.-The stock has been increased from time to time to provide new capital, as wanted, and $5,000,000 new stock was authorized by stockholders October 15, 1891 (V. 53, p. 570), which is included in the amount in table. Eight per oent bonds for $820,000 due August 15, 1892, were paid in oash at maturity, DffIDENDS since 1876-From 1877 to 1880 inclusive, 8 per cent; from 1881 to 1883 inclusive, 912; from 1884 to February, 1893, both inclusive, at the rate of 8 per cent yearly. ANNUAL REPORT.-Fiscal year ends July 31. Report for 1891-92, ,vith balance sheet, was in V. 55, p. 676, showing the following: 1889-90. 1890-91. 1891-92. Earnings (leased lines included) ..... $7,473,136 $7,871,146 $8,061,081 Patent royalties, manuf. profits, &c. 1,387,825 1,901,178 1,941,275 Total revenue .................... $8,860,961 $9,772,324 $10,002,356 Operating expenses .................. $3,274,605 $3,569,681 $3,438,863 Paid other sleeping-car associations. 1,022,625 1,008,324 947,504 Coupon interest on bonds............ ... ..... 65,600 65,600 Div1d_ends on capital stock .... _....... 2,000,000 2,000,000 2,300,000 Repau·s of cars m excess of mileage. .. ..... . 139,496 100,000 Total .................. $4,161,057 $4,065,668 $4,298,571 $4,409,262 Contingency account................. Expenses ................... 3,666,162 3,555,118 3,495,650 3,688,055 Total disbursements . ... ..... ... .. $6,462,830 $6,783,101 $6,751,967 Net earnings ...... ..... $494,895 $510,550 $802,921 $721,207 Net result ............................. $2,398,lal $2,989,223 $3,250,389 DIRECTORS AND OFFICERS-Collis P . Huntington, Henry Hart, Isaac Xew York office, 15 Broad street.-(V. 51, p. 494, 535,570,719; V. E. Gates, Calvin 8. Brice, Samuel Thomas, Jay Gould, Russell Sage; 53, p. 570, 601, 639,676; v. 56, p. 42, 71.) Geo. J. Gould, President; J.B. Houston, Vice-President; William H. quicksilver .lUtning.-Owns quicksilver mines at New Almaden, Lane, Secretary; Jos. Hellen, Treasurer. Office, Mills Building-, New Cal. The preferred stock is entitled to 7 per cent per annum, nonYork City.-(V. 53, p. 608, 804; V. 54, p. 866; V. 55, p. 257, 374, cumulative, and any surplus goes to the common and preferred equally. 723,996, 1111.) Fiscal year ends April 30. The following table shows the result of operations of this company Pennsylvania Coal.-Dividends since 1880-In 1881, 15 per cent; for the past five years, the total quicksilver production of California. from 1882 to February, 1893, inclusive, at rate of 16 per cent yearly. having decreased from 33,760 flasks in 1887 to 22,904 :flasks in 1891. A special dividend of 12 per cent was paid in December, 1892. See v. 54, p. 367. Flasks Quicksilver, Value Total Total Peoria Water.-Owns water works at Peori..1,, Ill., purchased from produced. value. per :flask. earnings. profit. the city iii 1889, on the agreement that they should be enlarged and Year. $774,389 16 $38 72 $825,793 $345,411 improved. See full statement in CHRONICLE, V. 52, p. 535. The mort- 1887.......... 20,000 678,143 61 37 67 699,517 143,741 gage is for $2,000,000, and of the bonds $295,000 are held to retire 1 88 .......... 18,000 575,757 00 43 95 595,004 164,659 a. like amount of city water bonds. Stock, $1,000,000; par, $100. (V. 18 9.......... 13,100 1890 .......... 12,000 620,007 96 51 66 688,010 281,535 .,54, p . 965.) 1891.......... 8,200 324,718 19 39 60 341,179 def. 57,523 Philadelphia Com.pany .-In 1887 the Chartiers Company was Dividends-On common, in 1881, 214 per oent; in 1882, 25; nothing leased for 99 years at a rental which is now 24·8 per cent of Philadel· since. On preferred-In 1881, 914; in 1882, 6; in 1883, nil; in 1884, phia. Company's net earnings monthly. The Philadelphia Company 3; in 1885, nil; in 1886, 234; in 1887, 3 ; in 1888, 634; in 1889, 3; in oontrols the natural gas production about Pittsbur~ and vicinity, 1890, February, 3, 112; May 1,112; August 1, 112; in 1891, Jan. 2, owning or leasin"' 40,582 aores aas territory and 697 nnles of pipes. l½; June 2,114. New York office, 20 Nassau street. (V. 47, p. 49; V. In year·ending 'i!arch 31, 189~, gross earnings from gas sold, $2,227,- 49, p. 50; V. 54, p. 367.) 453; dfsputed accounts, $767,578; dividends received, $29,832; total St. Paul City Railway'~-SEE TWIN CITY RAPID TRANSIT. . · receipts; $3,024,864; operatin~ expenses, interest, rentals, etc., $811,· Sliver Bullion Certificates. -The silver bullion certi::flcate ·s 103; bonds and accounts paia, $767,613; new lines, gas wells, eto., $657,15.4 ; dividends, $75,000; balance, sm·plus, $713,994. On March dealt in on the N. Y. Stock Exchange represent each 1,000 ounces of 31, 1892, there was due for construction $137,000, payable $30,000 fine silver bullion deposited with the Mercantile Safe Deposit Co .. o~ New monthly. DIVIDENDS.-The January, 1891, and subsequent dividends York City. They are subject to a storage charge of one cent per day per were passed, but in 1892, paid 4 14 per cent.-(V. 54, p. 1008.) 1,000 ounoes. On Nov. 22, 1892, the Safe Deposit Company reported tn its possession in trust for outstanding certificates 1,459,000 ounces P. Lorillard Cornpany.-Incorporated under hws of NewJer- of silver bullion. .sey .Juli 1, 1891, for the purpose of carrying on the tobacco business of Southern Cotton Oil.-This company is organized under the laws P. Lorillard & Co. in Jersey City. Dividends on pref. in 1892, 8 per cent; in 1893, Jan., 2 per cent. On common in 1892, 10 per cent. For of the State of New Jersey, and owns eight crushing mills in as many cities of the South with an aggregate capacity of 1,600 tons of seed year 1891-92 net profits applicable to dividends were $496,313; paid on preferred, $160,000; on common, $150,000; balance, surplus, $186,- per day; also owns 6 refineries, etc. In 1889 paid 12 per cent on stock, tn 1892, March, 212 per cent; June, 212. See statement to New York 313. See report, V. 55, p. 373. Net protlts were reported for 1887 $758,558; 1888, $235,377; 1889, $386,750; 1890, $558,960. Main Stock Exchange in full in CHRONICLE, v. 49, p. 404. President, Henry office, .Jersey City, N. J. Baring, Magoun & Co., Transfer Agents. (V. C. Butcher. CV. 49, n. 403, 404.) 53, p. 641; v. 55, p. 373.) Southern & A.tlantic.-Lines leased to Western Union and stock guaranteed by the rental, 5 per cent per annum. Po11tal Telegraph Cable.-This company ls successor to the Sugar Refineries-Sugar Trust.-SEE AMERICAN SUGAR REFIN Postal Teleu-raph Company and Postal Telerrraph & Cable Company. ··The old bon3.s took new stock for 35 per cent of their face, and the old ING COllIPANY. --&took 5 per cent of its amountin new. Foreclosure suit begun by FarmTenne8see Coal Iron & Railroad CoJDpany.-This company ers' Loan & Trust Company November, 1885, and sale took plaoe Janu• owns blast furnaces, coal mines, iron mines, foundries, &o., and oo al a,ry 15, 1886. Stook inc1·eased in 1890 to $10,000,000 for franchises, ex• and iron lands in Tennessee and Alabama. The total area of mineral t.ensions, &c. In .January, 1893, it was report.ed that the Commercial lands and ri~hts owned by the company in 1891 was 208,323 acres, of {.Tnion Telegraph Company's lines had been leased for 99 years at 6 which 81,99tj aores are in Alabama and 126,425 acres are in Tennessee. per ceJlt on stock. V. 56, p. 43. A. B. Chandler, President, New York. Of the latter 58,135·5 lie in Cocke and Green counties, in the eastern -(V. 48, p. 533; V. 50, p. 423, 703; V. 52, p. 239 ; V. 56, p. 43.) portion of the State on the borders of North Carolina. See a full statement of the property in V. 44, p. 245. Poughkeepsie Bridge Co.-See PHILADELPHIA READING & NEW On Dec. 19, 1892, the Cahaba Coal Mining Company was absorbed, ENGLAND RR. amongst " Railroads.'' its property consisting of some 44,000 acres of coal and iron lands Procter & Galllble Co.-This company was formed in 1890 under situated in the counties of Bibb, Shelby and Jefferson, Alabama, with the l aws of New Jersey to acquire and carry on the soap, candle, oils an output of about 800,000 tons of ooal per annum. V. 55, p. 60, 463. An amalgamation o! this company with the De Bardeleben Coal & . and glycerine manufacturing business of Messrs. Procter & Gamble of Cinomnati. The mortgaae covers about 67 acres of land adjoining the Iron Company was consummated in September, 1892. The separate corporate existence of the De Bardeleben Co., as also that of the Caha.ba. . city of Cincinnati, together with the 29 factory buildings thereon. Of the common stock $1,000,000 is not to receive dividends until 12 per Company, is maintained, but for legal purposes only, both properties bein~ operated as an integral part of the Tenn. C. & I. , cent bas been paid on the remainder of the common stock. The De Bardeleben Co. brings to the Tennessee Co. 150,000 acres DIVIDENDS-On common stock-in 1891, August, 8 per cent; in 1892, of valuable coal and iron lands in Alabama [including 93,199 acres August, 12 per cent. owned in fee simple and 43,856 acres of mineral rights, balance being EARNINGS-For year ending June 30, 1892, net profits were $619,629, surface rights, water rights, etc.11 seven new furnaces, all constructed (against $601,031 in 1890·91); deduct interest on bonds, $120,000; in the last four or :fl.ve years, witu a daily output of about 700 tons, six dividend on preferred stock, $180,000; dividend (12 per cent) on coal and six ore mineR so far developed and in active operation, with a -common stock, $270,000; balance carried to surplus fund, $48,968; daily output of 3,000 tons each; about 20 miles of railroad with proper · total surplus fund .July 1, 1892, $250,000. See V. 55, p. 298. Office, equipment, 1,100 coke ovens, about 1,000 buildings from which annual •Cincinnati. rental is received. The net earn1ngs of the De Bardeleben Co., as shown https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - - - - - - ----- HU MISCELLANEOUS STOOKS AND BONDS. J AN UARY, 18f3.] ==========-:=:=~- Subscribers -will confer a great f'avor by giving lnunedlate notice of' any error discovered In the se Tables. MISCELLANEOUS. Date Size, or For explanation of column headings, &c., see notes on of P ar :first page of tables. Bonds Value. ----------------------,-- -- · Tenn. Goat I. d: RR. Oo.-(Ooncluded)Bouth Pittsburg Purchase, 1st mortgage ..... - ......... . Alice Furnace Co., Alabama, 1st mortgage . . . ......... c• Pratt Coal & Iron Co., Ala. , 1st M., s. f., not drawn .... c• Birmingham, Ala., Div., con. M., &"' s. f.1%, not d'rn .. c* Tennessee Div. bds, gold, s.f. 112 ¼ yearly, not dr'n . . . c" De B ard. 1st M.,gold, guar.,s. f. $30,000 y'ly, not dr'n .c' Cahaba 1st M., gold, guar. , s. f., subject to call at 110.c* Terminal Railroad .Associ ation-First mortgage, gold .. . c* St. Louis Bridge & Tun. RR. 1st pref. stock, guaranteed. 2d preferred stock, guaranteed . ... . ................... . ~:i~~8!a.· or" si: r.oiiis,·siocii,· · · ·araiiieeii :·. ·.:::~~ 1882 $1,000 1882 1,000 1883 1,000 1,000 1887 1,000 1887 1890 500 &c. 1892 1,000 1889 1,000 ..... 100 100 i879 1,000 ..... Texas P ac. Land Trust-"Certi.fl.cates o~ropriet'y int'st" . .... Third .Avenue Ry. (N. Y.J-Stock . ... . . . ................ . .. . ---1st mortgage, gold . .................... . .......... . ... - .. c 1887 Thomson-Houston Electric.-SEE GENERAL ELECTRIC.Thurber- Whyland-Common stock for $1,500,000 ...... . . ...... Preferred, 8 :per cent cumulative ... . ........... . ....... . -- -Trenton Potteries. -Common stock . ... .. ...... ... . ..... . .. . --- Preferred stock, 8 per cent cumulative ... . ......... .. . . . .... Trow Direct01-y Printing d: Bookbinding-Stock common . ---· Preferred, 8 :per cent cumulative ....... . ... . .......... .. . ---Twin Oity Rapid Transit-Sto ck ($20,000,000 authorized) --- 1880 ~~!~o~~~~~l, ~~~ 1883 First consolioated, gold ........ . ... .. . .. ...... .. ... c*&r 1889 ~~iJ~:.~~~:•. ~~.~ ~~'.1:1: :_~~~::. ~:. ·ioo 100 1,000 100 100 100 100 100 100 ----1,000 1,000 1,000 by its last annual report, was about $475,382, while its fixed charges, including interest on its bonds and sinking rund were $ 232,971. Bee v. 54, p. 447, 48 6, 1011. STOCK. - Common stock authorized, $20,000,000. The amount outstanding was increased by $10,850,000 in 1892 to purchase the DeBardeleben, Cahaba and Excelsior companies. (V. 55, p. 463.) DIVIDENDS.-On common in 1887, 1 per cent, and none since.. qn preferred in 1889, 8 per cent; in 1890, January 1, 245 ; the remammg 111, per cent being taken by State as tax under law now repealed.-(See V. 50, p. 7 2); in August, 1890, 4; in 1891, 8; in 1892, 8; in 1893, Jan., 4. BoNDs.-The two issues, known as the Birmingham Division and the Tennessee Division bonds, are each a lien on their own property, as described in the mortgage, and a second lien on the property of the other division. The total authorized issue of the Birmingham Div. loan is $ 5,000,000 [of which $540,000 bonds have been cremated] and of the Tenn. Div., $1,400,000, of which $85,000 are in the sinking fund. The Tracy City 1st a nd 2d mortgage 6s and the consolidated 6s due in 1901 are all ex changeable at par for bonds of the Nashville Chattanooga & St. L ouis Railway Comp any held by the Central Trust Company. The De B ar deleben bonds for $3,000,000 when fully issued will constitute t he only mortgage debt on that rroperty. They were assumed by the Tenn. Coal & Iron, under terms o purchase. LATEST EARNINGS.-From Feb. 1 to Nov. 30, 1892, estimated, net, $761,300, against $561,500 in 1891; surplus over charges $229,300, against $201,500; Bessemer Division (De Bardeleben Coal & Iron Co.) being included only in 1892. ANNU AL REPORT.-Fiscal year ends J anuary 31. Report for 1891-92 in full in V. 54, p. 844. R eports have shown as follows : 1888-89. 1889-90. 1890-91. 1891-92. Coal, output , ton s.. 1,375,577 1,619,020 1,583,170 1,776,881 Coke, output, t ons. .. 456,605 509,906 498,014 521,729 Pigiron,output,tons 200,750 264,648 260,378 290,220 Ironore,output,tons 126,271 124,574 109,508 117,160 Total net profits . . _.. $666,092 $781,300 $663,890 $692,071 I nterest on bonds. .. 322,291 351,484 355,956 351,193 Miscell. interest,&c. 14,406 22,243 18,033 8,885 I >lvidends ... . __.. . _. . 40,000 80,000 80,000 80,.000 INTEREST OR DIVIDENDS. Bonds-Prine! pal,When Duer ott:~~gRate per When Where Payable, and by Cent. Payable Whom. Dividend. Stocks-Last $120,000 F. & A . 6 300,000 7 A. & 0 . 623,000 M. & N. 7 3,513,000 6 g. J. & J. 1,283,000 6 g. A. & 0. 2,940,000 6 g. F. & A. 1,000,000 6 g. J. & D. 7,000,000 412g. A.. & o. 2,490,000 6 per an. J. & J. 3,000,000 3 per an. J. & J. 7 g. A. & 0. 5,000,000 1,250,000 3 J. & J. 8.761,731 5,000,000 See.text. M:·&·N . 5,000,000 5 g. J. & J. 1,000,000 1,500,000 1,750,000 1,250,000 750,000 750.000 15,000,000 380,000 600,000 3,990,000 N. Y., Mechanics' Bank. do do do do N. Y. Hanover Nat. B'k N. Y.,4th National Bank N. Y., Nat. Park Bank. N. Y. , Hanover Nat. B'k. N. Y., Drexel, M. & Co. do do do do New York and London. N. Y., Drexel, M. & Co. -········· New York. N.Y.,Farmers'L.&Tr.Co Feb. N.Y.Offlce,116 ReadeSt. 8 8 per an. F . & A. do do N. Y.,A. M.Kidder&Co. See text. 8 per an. Q--~~I. do do . ..... 8 per an. . .... Q.:..:..F. --- --- ---- New York. F eb. 1, 1902' 1893-1902 Nov. 1, 1903Jan. 1, 1917 Jan . 1, 1917 Feb. 1, 1910Dec. 1, 1922 Oct. 1, 1939 Jan., 1893 J an., 1893 Apr. 1, 1928 Jan. 1, 189:J: Nov:,--is92 July, 1937 Feb. 23, 1892 Aug. 23, 1892 F eb. l , 1893: Dec. 10, 1892 Nov."i5: .i 89Z M.& N. N.Y., Farm. L. & Tr. Co. Nov·." 1,..i9107 do do Nov . 1, 1913 6 g. M.&N. 5 g. J15&J15 do do Jan. 15, 191~ as the Minneapolis Street Railway Company, Minneapolis Lyndale & Minnetonka Railway Comp :my, and the St. Paul City R ailway Company. The above includes also the exclusive right to operate street< cars between the two cities. The entire system now consists of 205 miles of standard gauge road, of which 190 miles is electric and 15 miles cable, all of which has been • recently built or rebuilt, and thoroughly equipped. A double track electric line, 9 miles long, connects the business centres of the two cities. BoNDs.-The Minneapolis Street R'y Co. jointly and severally with., the Minneapolis Lyndale & Minnetonka Railway Company has issued $4,970,000 (which includes $980,000 held in trust by the Farmers' Loani & Trust Company to redeem the $980,000 prior lien bonds) 5 per cent 30vear first mortgage and first consolidated mortgage gold bonds under a mortgage limited to $5,000,000. The St. Paul City Railway Company has issued $4,157,000 5 per cent1 50-year cable consolidated bonds (includin ~ $680,000 held by the Farm• ers' Loan & Trust Company, trustee, to reoeem the $680,000 pr ior lienJ bonds above) under a mortgage limited to $ 5,500,000 bonds. Under the mortgage these bonds can only be issued a~ainst the actual cash cost of construction under a mileage limit of $10,000 p er mile. These· consols are endorsed with an unconditional guaranty of princiyal an d i interest by the Twin City Ra-pid Transit Co. The St. Paul Company has also issued, under a m ortgage subje6t t<>• the above, $1,000,000 gold debenture 6 per cent 10-year bonds. ASSETS.-The assets of the company, as shown by t he last annual report (not including the franchise or r ight of way) is $12,868,261,.of. which $2,298,852 is real estate. EARNINGS.-The statem ents of the above company show t h a t thegross earnings of the property now owned and controlled by t he Twin· City R apid Transit Company during the 10 years up to an d including" 1888 increased at the aver a ge r ate of 32 per cent per a nnu m, aud t h&avera ge increase for the two years including 1891 is 34 per cent perannum. For 10 months ending Oct. 31, 1892, gross earnings $1,777,478. The gross earnings for 1891 are $1,820,592, and surplus after payingall interest charges, $310,974. Fiscal Agents, J . Kennedy, Tod & Co., 45 Wall Street. (V. 54, p. 5f.i4. United State111 Expre••.-In September, 1887, the stock wan increased $3,000,000, rarsing it to $10,000,000, and the Baltimore & Ohio Express was purchased. l>ividends since 1880-From 1881 to 1887 Totldisbursem'ts. $376,697 $453,727 $453,989 $440,078 inclusive, 4 per cent; in 1888, 5; in 1889, 5. In May, 1890, 2; in Nov., 2; Balance, surplus .. .. $289,395 $227,573 ·$209.901 $251,993 in 1891, May, 2; then none till Nov., 1892, 2 per cent. United State8 Knbber.--ORGA.N[ZATION AND PROPERTY.- 0:rN. Y. Office, 49 Broadway.-(V. 54, p. 410, 447,486,801, 844, Sol , ganized under laws of New Jersey in October, 1892, for the manufac9 68, 1011; v. 55, p . 60, 257,463,551 , 810. ) ture of rubber b oots and shoes, etc. Either owns absolutely or per-Terminal KR. A.Hoclatton of' St. Loul•.-This company ao- m anently controls nine out of the fifteen concerns then engaged in quired October 10, 1889, the leases of t he Bt. Louis Bridge and the this business, including the American Rubber Co. of Boston, the CanTunnel RR. of St. Louis, and purchased the properties of the Union dee Company of New Haven, the Goodyear Rubber Company of NauDepot Company of Bt. Lows, and of the Union Railway & Transit Com- gatuck , et c.; it will also control three of the other establishments. Real pa.mes and Terminal Railroads of St. Louis and East Bt . Louis. It ta estate, m achinery, lasts, etc., were appraised at $5,055,000: ot her oomposed of the following proprietary companies, which are the sol~ a!lsets, mannfact ured g-oods, bills receivable, etc., at $6,491,900.. See owners: The Cleveland Cincinnati Chicago & Bt. Louis, Louisville & full application t o N. Y. Stock Exchange m ade in December, 1892, in Nashville, St. Louis Iron Mountain & Southern, Ohio & Mississippi, · V. 55, p. 1039. Missouri Paci.fie and Wabash. These companies have agreed under STOCK.- P r eferred stock has preference as to assets and earnings,. contract to use this pr()perty forever and to pay as tolls a sum intended, and no bonded or m ortgage debt can be created without consent of under ordinary circumstances, to be sufficient to provide for interest three-fourths of each class ot stock. c ommon is entitled to all surplus on these bonds, in addition to t a '{es, rentals a nd other charges, and it, after eight per cent on preferred. Listed on t he Stock Exchange in owi_,n~ to ap y temporar y unfor eseen eir cum~tan ces the net ear nings December, 1892. shou.la not be suffi cient t o m eet the fl ired char ges, each li ne w ill contribute its proportion to the extent of one•seventh of $ 1,000,000 to PRICE OF STOCK.-Common-In 1892, 38 34'@48¾,; in 1893, t.o Jan. 20,. make up any deficiency. Capit al stock, $1,441,200. inclusive, 4218@46. The leases of t he Bridge and the T unnel are for the ter ms of their cor EAIL.--UNGs.-Average profits for the nine companie2 for ten years por ate e xistence, and were made J uly 1, 1881, to the Missouri P acific wer e $959,499. Total profits in 1891, $ 1,181 ,186. and t ~e :Wabash, bv which companies they were assigned to the presen t DIRECTORS.-Charles A. Coffin, Samuel P . Colt, Jam es Deshler, Robassocmtion. U nder the lease the lessee guarantees 6 per cent on t~e ert D. E vans, James B. Ford, Charles R. Flint, J. Howar d Ford, Robert Brld~e Company's $2,490,000 fi rst preferred stock, 3 per cent on 1te M. Galloway, William H. H ill, Henry L. Hotchkiss, H. B. Hollins~ $3,0 ~0,000 second prefer r ed stock and'? per ce!1t on the Tunnel Com • I George H. Hood, Charles L. John son, James P . Langdon, Geor ge A. pany s $1,250,000 common sto~k . The Bridge Co s. $2,500,000 corl!.mon . Lewis, Ed win A. Lewis, M. c. Martin, Frederick M. Shepard, Richard stock w as held by the Mercantile Tr ust Co., with power t o vote on 1t. : c. Sibley, J. Edward Simmons, William L. Trenholm, J ohn P. TownTp.e ~ o,rtgage <;> I'. 1889 .(tr ust ee, Central Trust Company) was de- · send, Charles E. Thayer, J ohn 1. Waterbury, Samuel N . Williams. Thescribed m_ advertisement m CHRONICLE of F_eb. 13, 1892. In 1891 officers are: President, Robert D. Evans; Treasur er , Charles R. Flint; gross earnm~s were $1,756,429; n~t, $938,476; mcome from rents, &c., , secretary, John r. Waterbur y. N. Y. Office, 22 William Street. (V. 55,. , 123,665; t otal net, $1,062,14 1; mterest, $274,346; rents, $694,401; p. 1036, 1039.) rmprovements, $61;733; balance, surplus, $31,661. (V. 52, p. 680; V. Wells, Fargo E xpreH . -No annual reports or information. In 54 277 289 444 48 5 , p. , , • ·> March, 1888, this company bought the Erie Expr ess of the New Trenton Potteries O ompany . -ORGANIZATION, ETc.-In1orpo- York Lake Erie & Wester n R ailroad Com pany. Dividends of 8 p ~r cent;• rated under laws of New Jers'3y in May, 1892, to takd ov ·r and con- yearly have been paid for many years. (V. 46, p. 371 ; V. 48, p . 172.) tinue t h .., business of tiv 1 Tr nton, N. J .. pottery companies which Wes t ern U n i o n Telegraph . -chartered under the laws of New wer" then supplyin~, it was said. about 75 p ~r cent of th 1 country's York state on April 4, 1856, with capital stock of $500,000. On July total output of sanimry plumbing war<', tog-dth r with soms toilet and 1, 1869, its capital amounted to $41,063,100, h aving been increased for · table ward. REAL ESTATE, buildings, machmery, etc., so acquirad in the acquisition of new properties and by the payment of stock divifee simple we.r-, apprais '.!d at $366,000; m ·rchandise, cash in bank, dends. In June, 1879. a stock distribution of 17 per cent was made of ttc., at $524,000. STOCK.-Prdf.irred stock has prof.-,rontial lien upon stock previously in the company's treasury. On Jan.19.1881, was dated all the prop ,rty and assets. No bond or mortgag 1 can b 3 cr~ated with- the grand consolidat1.0n, in which the Western Union raised it s stock to out consmt of 90 p er cent of pref~rred stockhold 1rs. Company started $80,000,000, Siving par, or $15,000,000, for the stock and bonds of the without liabiliti..- s of any kind. DIVIDEND.-Oncommon stock in 1893, American Umon, 60 per cent for old At. & Pac. stock in new West. Un. ,_ February, 5 per eent. NET PROFITS of the companies in 1891 w -re and a stock distribution of 4812 per cent to West~ Union shareholders. $401,000, a vi-rag.-, net profits for three y ears 1888-1891 were $314,57 3. A scrip dividend w as paid in April, 1886, and in 1887 this scrip conProfits fer 1891 equaled 8 per Cfmt on pref rr.:d and 16 per c m t on verted into stock , increasing the company's capital from $80,000,000 common. See adv. CHRONICLE June 11, 1892. A. M. Kidder & Co., 18 to $81,200,000, which wa s furt her increased in November, 1887, by the · Wall St., Fiscal Agents issu e of $ 5,000,000 of sto ck in payment for the telegraph system of Twin City Rapid •rransit.-(See Ma p.J-This company, wit h a the B altimore & Ohio Telegraph Company. capital or $20,000,000, of which $ 15,000,000 h as been issued and I n October , 1892, the stockholders voted to increase the stock from $ 5,000,000 is still in t he comp a ny's treasury, o wns, controls and oper- $86,200,000 t o $ 100,000,000, of which $8,620,000 was then paid as ates, under exclusive charters, all t he street r a il way lines of t he t wo scr ip dividend to r epre sen t surplus earnin~s exp ended on the property ... cities, Minneap olis and St. Paul; the or iginal companies bei ng know n See V. 55, p. 463, 545,724,755, 806, and dividends below. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 1 MAP OF THE TWIN CITY RAPID TRANSIT CO. COMPRISING THE JIINNEAPOLIS STREET RAILWAY CO. MINNEAPOLIS, LYNDALE & MINNETONKA RY. CO. ST. PAUL CITY RAILWAY CO. 'GLADSTON'E" - - - - -..Electric & Cable Lines ••• - • •••·Proposed ______ Railroads https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J ANU~RY, 1893.] MISCELLANEOUS STOCKS AND BONDS. lti3 Subscribers -will conCer a great Cavor by gJvlng lnunedlate notice of any error discovered In these Tables. MISCELLANEOUS. INTEREST OR DIVIDENDS. Bonds-PrlnciDate Size, or .Amount pal,WhenDue. For explanation of column headings, &c., see notes on of Par Outstanding Rate per When Where payable and by Stoc?cs:-Last :first page of tables. Bonds Value. Cent. Payable Whom. D1v1dend. Twin Oity Rapid Trar..sit-( Oomluded)- i:i:~ 1884 1887 1890 1890 $1,000 1,000 1,000 l00&c. 100 100 $680,000 3,477,000 1,000,000 2,200,000 1,250,000 ·--2,000,000 --1890 600,000 -· -·· 100 10,000,000 ..... ':itates 100 13,481,100 .... 100 12,942,500 Preferred (as to assets and earnings) 8 p. c. cumulative . . . . 100 6,250,000 Wells, Fa,·go & Oo. Express-Stock .........•................ ---100 94,820,000 Western Union Teleq1·aph-Stock .............. ........... ~. ---1,000 1,214,000 Realest. bds.il~enon W.U.Bld~., N.y.C.)s.f.(not.dr.J . 1872 1,000 4,920,000 Debentures ( awn, surrender 1s optional) ...... . . c & r 1875 831,066 Debentures, sinking fund 1 per cent, drawn at 100 . ... c 1875 £100&c 1,000 8,262,000 Collateral Trust bonds ............................. . .... c* 1888 50 272,550 Westinghouse Electric & Manufactm·'g.-Old com. stock.. . ........ 50 5,727.450 ---ir:Eitn~fe~:c!. 50 4,000,000 ....... 650,000 U. S. Electric Light Co. bonds ($50,000 paid yearly) .... -------1,000 2,000,000 Wheeling Bridge & Tenninal. Ry-1st M., ~old ......... c* 1889 1,000 1,500,000 Second mortgage (income tm March, 1892), gold ... .. .. 1890 St. Pat-ii City Railway Co., 1st consol. rooriage. gold ... Cable consol., M.,gold,guar. by Twin City ap. Tr.Co. c* Debentures, gold ........................................ Union Ferry-1st M., &old, red. 0,t 110 after Nov. 1, 1895. United States Book- ommon stock: ................. . •. ... Preferred, 8 per cent cumulative ... .. .. .. ............... l~t mor~ge, for $1,000,000, gold ... . ............ . . .... c ~~'/!:=.iig~oii::::::::::::::::::::: ::::::: stoc1r; ·,; i,ei-·ceiii; cum: ·<see rema~lis>:: DIVIDENDS.-In April, 1886, the quarterly dividend was paid in scrip, and no more dividends were paid till July, 1887, when oash dividends were resumed at 1 per cent, afterwards increased to 1¼ p. c. quarterly. In January, 1890, an extra dividend of 34, of one per cent was paid. On Dec. 3, 1892, a stock dividend of 10 pPr cent was paid on $86,109,852 stock; in 1893, January, 114 per cent in cash. PRICE OF STOCK.-In 1884, 49@7818; in 1885, 5312@813s; in l 886, 6018@8012; in 1887, 6712@8l7s; in 1888, 7038@8634,; in 1889, 8ll!s@88¾.; in 1890, 71:\.1@87; in 1891, 76'@8512; in 1892, 82@1003s; in 1893 to Jan. 20, inclusive. 9434@101. BoNns.-The oollateral trust bonds of 1888 (trustee, Mercantile Trust Company) are issued to retire an equal amount of stock and bonds of various telegraph and cable companies for the interest or dividends on which the Western Union Company is liable, these when so retired to be held as security for the new bonds. LATEST EARNINGS.-EstimatE'd net earnings for the quartn ending Sept. 30, 1892, compare with the actual results in the same qua,rt.,,r of 1891 as follows: Half-yea,· ending Dec. 31. Actual, 1891. E~timated. 1892. Nt>t rtivenue .............................. $4,078,321 $4,220,777 lnterest on bonds and sinking fund..... 484,631 486,670 Net revenue ..•................. . ..... $3,593,690 Less dividend ... ......•..... . . .. .... (212%) 2,154,814 $3,734,107 (212%) 2,262,663 Surplus for quarter .............•.... $1,438,876 Add nominal surplus June 30.... . ...... 11,417,741 $1,471,444 13,576,127 Nominal surplus Dec. 31. .... . ...... $12,856,617 Deduct stock dividend Dec. 3, 1892..... ...... .. $15,047,571 8,619,317 $12,856,617 $6,428,254 ANNUAL REP0RT.-Fiscal year ends June 30; report for 1891-92 was in V. 55, p. 637. 1888·89. 1889·90. 1890-91. 1891·92. Yem· ending June 30. $ $ $ $ Revenues for the year .... 20,783,194 22,387,029 23,034,321 23,706,405 Oper.exp's,rent.,t'xes,&c.14,565,153 15,074,304 16,428,74616,307,857 Net profits ............. 6,218,041 7,312,725 6,605,585 7,398,547 Dividends vaid. . .......... 4,309,520 4,956,008 4,309,606 4,309,639 Interest on bonds . ........ 755,686 875,135 891,218 890,532 Sinking funds............. 39,982 40,000 39,991 39,991 6 5 6 5 g. g. g. g. A. & 0. N.Y.,Farmer's L.&T.Co. J15&J15 do do M. & N. do do M. & N. N. Y., H.B. Hollins. Oct. 1, Jan. 15, May 1, Nov. 1, 1934 1937 1900 1920 . .6. g. J ..&.. J. N. Y., Cb.&.e Nat. Bank. 1910 See text. M. & N. N. Y., Office, 49 B'way. Nov. 15, 1892 New 8 p·er·an. M. ·&·N. ::: ::::::: New 8 per an. J. & J. N. Y .. Office, 63 B'way. Jan. 16, 1893 5 per an. Q.-J. N. Y ., Office, 195 B'way. Jan. 16,1893 7 g. M. & N. N. Y., Union Trust Co. May 1, 1902 7 M. & N. N. Y ., Treasurer's Office. May 1, 1900 6 g. M. & 8. London,Morton,R.& Co. M:ch. 1, 1900 5 J. & J. N. Y., Office, 195 B'way. Jan. 1, 1938 7 p-.;:r·au J. -&-·J. N. Y., OfifCe;120 B'way Jaii:·1,-·is93 6 .... In 15 years. 6 g. J. & D. Dec. '91 coup. last paid. Deo. 1, 1939 6 g. M. & 8. None paid. Sept. 1, 1940 Under a reorganization of the company, consummated in the latter part of 1891, the stockholders of the above-mentioned companies were allowed to exchange their stock for stock in the Westinghouse Electric & Manufacturing Company, and 14,624 shares of the United States Electric Lighting Company (out of a total of 15,000), and 23,771 shares of the Consolidated Electric Light Company (out of a total of 24,264) availed themselves of this priviTege to date. C-'.PITAL STOCK.-The capital stock of the company is $10,000,000, of which there is preferred and assenting stock of $9,727,450, and common stock (outstanding), $272,550. All classes of stock have same voting power. The firAt preference stock carries cumulative dividends of 7 per cent per annum, with right to participate eaually with other stock after the same shall have received 7 per cent, and prefer· ential as to principal. DIVIDENDS.-On preferred stock an interim dividend of 1 per cent WRS paid Feb. 1, 1892; in July paid 312 per cent; in 1893, Jan., 312. EARNINGS.-The sales of the company, including the sales of the leased companies since they came under its control, were: In year 1890, $4,289,087; in 1889, $3,618,379; in 1888, $1,288,569; in 1887. $874,657. The statement to the N. Y. Stock Exchange, giving the balance sheet etc.• will be found in V. 54, p. 763. DIRECTORS.-Brayton Ives (Chairman of the Board), Charles Francis Adams, Lemuel Bannister, August Belmont, A. M. Byers, Charles Fair child1 MarcelluR Hartley, G. W. Hebard. Henry B. Hyde and George Westmghouse, Jr President, George Westinghouse, Jr.; Vice-Presidents_. Lemuel Bannister, George W. Hebard: Tr~asurer, P. F. Kobbe. N. Y. office is at 120 Broadway. (V. 54, p. 763; V. 55, p. 551.) ,vheeling Bridge & Terminal Rallway.-This company owns a railway bridge at Wheeling, West Va., complett-d in 1891, and about 10 miles of terminal track, connecting with Cleveland & Pittsburg, Cleveland Lorain & Wheeling and WhP-eling & Lake Erie on Ohio side, and Baltimore & Ohio, Ohio River RaiJway and Pittsb'g Wheelng & Kentueky (Pennsylvania system) on the Wheeling side. '.rhe Martins Fi-rry Terminal prop ... rty was purchased at for closure 1,ale Dec. 12, 189!.!, by thl"I W. B. & T. Ry. Co. and will be mad· subjE-•·t to the mortgagt-s dt'SCrib d in the tabl above. An t'Xt• nsion of 3 mil.,s from Whe.,ling to Bt-nwood, wher ... theroj are iron and steel plants, is undt'l' consideration. (V. 54, p. 162.) NEW YORK AND BROOKLYN TRUST CO'S. Total disbursements . . 5,105,188 5,871,143 5,240,826 5,240,161 (See CHRONICLES of February, 1893, for balance she ts, and V. Balance of .profits ..... 1,112,853 1,441,582 1,364,759 2,158,485 56, p. 89, 128, for namt,s of oiticers and directors. Sur.Julyl (begmningy'r). 7,498,489 8,611,40210,052,98311,417,742 - - - - - - - - - · - - - - - - - - - - , - · - - - - - - - - -- - Surplus & DlVIDENDS paid in 1891 & 1892 Total nom. surp. June C.A.PIT.AL. I Undiv'ed and date and amount. 30 (end of year) .... 8,611,402 10,052,98411,417,74213,576,127 COMP.A.NIES. Profits The following table shows the property and business of the company Par Amount. Dec 31,92 Period. ! '91. '92. Last Paid. % a.t different periods: . --.--1 $ $ Miles of Miles of No. of Year. Poles&C'bl's. Wire. Offices. Messages. Receipts. Profits. Atlantic ...... 100 500,000 789,581 '4.-J. 12 12 Jan., '93, 3 1866-67.. 46,270 85,291 2,565 5,879,282 $6,568,925 $2,624,919 Brooklyn* .... 100 1,000,000 1,439,015 ~.-J. 17 :20 Jan., '93. 5 1869-70 .. 54,109 112,191 3,972 9,157,646 7,138,737 2,227,965 Central1] ...... 1001,000,000 5,300,023 B1-mon 50 50 Jan., '93.15 .... New. 1879-80 .. 85,645 233,534 9,07'7 29,215,509 12,782,894 5,833,937 Continental .. 100 500,000 303,750 . . . . 1890-91..187,981 715,591 20.098 59,148,343 23,034,326 6,605,587 Farm. L. & Tr. 251,000,000 4,017,617 Q.-F. 25 30 Nov.,'92, 10 1891-92 .. 189,576 739,105 20,700 62,387,298 23,706,404 7,398,545 Franklin ..... 100 1,000,000 732,490 Q.-J. 8 8 J an., '93. 2 DIRECTORS for 1892-93.-Norvin Green, Thomas T. Eckert, John T. Hamilton .... 100 500,000 331,184 Q.-F..... 3 Feb., '93. 112 Terry, John Van Horne, - - , Russell Sa"'e, Alonzo B. Cornell, Holland ....... 100 500,000 543,156 (4.-F. 10 10 Nov., '92. 21, 6 1Nov.,'92. 3 Samuel Sloan, Robert C. Clowry, George J. Gould, Edwin Gould, John Kings County. 100 500,000 481,326 M. &N. 6 6 IJan., '93. 3 G. Moore, Henry Weaver, Percy R. Pyne, Charles Lanier, Austin Cor• Knickerbock'r 100 750,000 361,804 J. & J. 3 8 Ian., '9a. 2 bin. J. Pierpont Morgan, Frederick L. Ames. John Hay, William D. Longl.L.&Tr.* 100 500,000 282,285 Q.-J. 8 Bishop, C. P. Huntington, George B. Roberts, Sidney Shepard, Erastus Manhattan . . . 30 1,000,000 286,164 J. & J. . . . . .> Jan.' '93. 219 Wiman, Charles F. Mayer, Chauncey M. Depew, JameR W. Clendenin, • Mercantile .... 100 2,000,000 1,758,176 J. & J. 10 10 'Jan., '93. 5 6 /Jan.15,'93.3 Henry M. Flagler, HenryB. Hyde, W. Murray Crane. Office, 195 Broad- Metropolitan. 100 1,000,000 867,589 J. & J. 6 6 6 .Feb., '93. 8 way, New York city.-(V. 53, p. 368,567,881; V. 54, p. 158,447,561, Nassau ... . .... 100 500,000 184,836 .... N. Y.Guar.& I. 100 2,000,000 1,155,514 . . . . . . . . . ... Jan., '93 6 965; v. 55, p. 463,545,637, 72!, 755,806,895, 1036.) N.Y.Lf.I.&Tr. 100 1,000,000 see'·A" J. & D. 25 30 !Dec .• '92.15 Westtn::;house Electric & 1'.lanuCacturlng Co.-ORGANIZA· N. Y. Sec. &Tr. 100 1,000,000 952,837 . ... .... .... New. TION.-This company has a charter granted by the St,i,te of .Pennsyl- People's ....... 100 1,000,000 839,225 Q.-F. 8 8 1Feb., '93. 2 vania. Its business consists of the manufacture and sale of dynamos R'l Est. L. & T. 100 500,000 305,098 . . . . . ....... Feb., '93. 212 for isolated and central station lighting, motors and generators for State ........ .. 100 1,000,000 814,692 F. & A. . ... 6 I Feb., '93. a stationary work and street railways, arc and incandescent lamps, and TitleGu.&Tr.* 100 2,000,000 701,084 J. & J. 5 6 Jan., '93. 3 a general line of appliances used in the commercial apolioations of Union .. .... .. 100 1,000,000 -1,274,771 Q.-J. 20 20 Jan., '93. 6 electricity for lighting and power purposes. • United States* 100 2,000,0008,520,775 J. & J. 25 2812 Jan., '93.16 The company owns a valuable factory plant in the city of Pittsburg Washington .. 100 500,000 403,756 .... _ .••. .. .. Jau, '93. 3 Pa., on real estate free and unencumbered, and employs about 1,000, * Dividend payable Jan. 1, 1893, not embraced for this company in men in its various departments, and operates. under lease agreements, the factories of the United States Electric Lighting Company at New- " surplus," etc. ark, N. J., and the factory of the Consolidated ~lectric Light Company ,r Dividend of Jan. 1, 1893, charged to profit and loss and not emin West Twenty-third Street, New York City, in the name of the Saw- nraced in "surplus," etc. · yer-Mann Electric Company, employing in both of these fa,cM)ries an "a" On June 30, 1892, the surplus and undivided profits were $2l average of some 800 employees. 226,684. Later information with held. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I 184 .BANK, GAS, INSURANCE AND HORSE RAILROAD STOOKS. f" Indicates Stat.a banks.) NEW YORK CITY BANKR. <See officers, V. 56, p. 84, 88 and 128.) ------DIVIDENDS. CAPITAL. Surplus at la.test 1- - - - - - - - - - - -0oMPAN1'ES. Par Amount. dates. t Period. 1891. 1892. La.test. % - - - , $ - $ - - $- - - - - ~ 8 Jan. '93. 4 8 America* .... 100 3,000,000 2,214.200 J. & J. 7 Nov.'92. 312 7 Am.Exch ... 100 5,000,000 2,196,600 M. &N. Astor Place* 100 250,000 294,300 . .... ..... ..... ................... . 6 Jan. '93. 3 3 81,300 . ........ Bk.otDep'sit 100 300,000 12 Jan. '93. '6 Bowery* .... 100 250,000 527,700 J. & J. 12 16 Jan. '93. 8 Broadway.. 25 1,000,000 1,622,400 J. & J. 16 8 .Tan. '93 4 8 Butoh's'&Dr 25 300,000 313,100 J. & J. 8,900 ........................... .. : .. .. . Canal St.* .. . 100 100,000 7 Jan. '93. 312 7 Central. .... 100 2,000,000 576,200 J. & J. 10 .ran. '93. 5 Chase....... 100 500,000 1,119,900 J. & J. 10 16 Jan. '93. 4 Chat~am . . . 25 450,000 889,400 Q.-J. 16 ran. '93.25 150 150 Bi-m'ly. 7,114,400 300,000 100 .. Chermcal.. ran, '93. 312 7 7 Citizens'.... 25 600,000 463,300 J. & J. 5 ~ov.'92. 10 15 N. & M. 2,649,000 1,000,000 100 City ......... ran. '93. 2 5 6 36,700 . . . ... . . . Clinton* .... 100 300,000 ~ew. ..................... 28,300 Colonial* . . . . . . . 100,000 ran. '93. 4 8 6 Columbia* . . 100 300,000 285,300 . . .. . . . . ran. '93. 4 8 8 Com1:11erce .. 100 5,000,000 3,578,600 J. & J. fan. '93. 4 7 7 Conttnent,al. 100 1,000,000 255,800 J. & J. '93. 6 Feb. 12 12 Corn Exch.* 100 1,000,000 1,297,700 F. & A. ran. '93. 4 8 8 Ea.st River. . 25 250,000 145,200 J. & J. '92. 5 dept 36,100 ..................... East Side* .. 100 100,000 ran. '93. 4 8 8 11th Ward*. 25 100,000 234,700 J. & J. 94,600 ..................... . ............ . Emp. Stat.a". 100 250,000 6 July '92. 3 6 Firth ....... . 100 200,000 301,200 J. & J. F~hAve* .. 100 100,000 916,300 Q.-J. 75 100 ran. '93.25 Fll'st ........ 100 500,000 6,886,400 Q.-J. too 100 .fan. "93.25 ran. '93. 312 7 7 Fourth ...... 100 3,200,000 1,890,100 .r. & J. 79,500 . . . . . . . . . . . . . . . . . . . . . .. .. .. ....... . Hth Street* 100 100,000 12 Oct. '92. 6 G i.llatin . . . . 50 1,000,000 1,554,200 A. & 0. 12 42,300 . . . . . . . . . . . . . . . . . . . . . . ......... . .. . GJ.nsevoort* 50 200,000 Garfield..... 50 200,000 473,200 ........ . ........................ .. 7 Feb. '93. 312 6 F. & A. 299,400 750,000 75 Germ'nAm.* 16 .\fay '92.16 12 Germ'n Ex.* 100 200,000 601,500 May. Nov.'92. 5 10 10 N. & M. 539,400 200,000 100 .. Germa~a* 6 Nov. '92. 3 6 Gree~wich*. 25 200,000 160,000 M. & N. _...... _..... . ........... . ........ . 8,300 Hamilton* .. 100 200,000 21,300 .... . ...... ..... ... .. . ............ . H'rl'm Riv.* . . . . 100,000 ran. '93. 5 7 7 J. & .J. 1,851,400 Hanover.... 100 1,000,000 New 54,100 ...... .. . ...... ...... Hide&L'th'r 100 500,000 3 ~ov.'92. 6 6 N. & M. Home* ...... 100 100,000 101,200 Hud River* 100 200,000 158,200 . . . . . . . . . . . . . . . . . . . . . Feh. '93. 3 '93.10 ran. 20 14 Im~.-& Trad. 100 1,500,000 5,660,400 .r. & J. 8 .fan. '93. 4 8 Irvmg . . . . . . 50 500,000 345,200 .r. & J. 10 .ran. '93. 5 ~atherMfr. 100 600.000 567,800 .J. & J. 10 24,000 . . . . . . . . . . . . . . . . . . . . . . ............ . Liberty . . . • . . . . . 500,000 7 A.ug.'92. 4 6 Lincoln ..... 100 300,000 401,500 . . . .•. . . . Madis'n Sq.* 100 500,000 193,500 J. & J ............. ran. '87. 3 7 !.ug.'92. 312 7 Manhattan+ 502,050,000 1,741,700 F. & A. ran. '93. 5 8 8 Mkt & Fult. 100 750,000 811,800 J. & J. ran. '93. 4 8 8 Mechanics'. 252,000,000 2,017,800 .r. & J. ran. '93. 5 8 8 Mech. & :i'r * 25 400,000 444,300 J. & J. ran. '93. 3 6 6 Mercantile .. 100 1,000,000 1,064,700 J. & J. ran. '93. 312 7 7 Merchants'. 502,000,000 1,015,100 J. & J. Jan. '93. 3 6 6 Merch. E;X-· 50 600,000 172,500 J. & J. Dec. '92. 6 11 lo.otropolis*. 100 300,000 739,700 J. & D. 10 ran. '93. 3 6 6 Mt. Morris*. 100 250,000 340,700 J. & J. 16 ran. '93. 4 Murr'y Hill* 50 100,000 401,600 Q.-J. 16 30,000 . . . .. . . . . . . . . . . . . . . . . . ............ . Mutual* . . . . . . . . 200,000 8 Nov.'92. 4 8 Nassau* .... 100 500,000 272,000 M. & N. N. Amst'm*. 100 250,000 104.,400 ..................... . ...... __ .... . Jan. '93. 5 10 10 J. & J. New York .. 100 2,000,000 2,008,300 ran. '93. 4 8 8 .N. Y. County 100 200,000 554;,000 J. & J. ~ug.'92. 3 6 6 A. & F. N. Y. N. Ex. 100 300,000 168,700 31g ...... .ran. '91. 31g Ninth ....... 100 750,000 206,300 J. & J. 6 .ran. '93. 3 6 59,600 J. & J. Nine'th W'd* 100 100,000 6 .Tan. '93. 3 6 N. America.. 70 700,000 618,300 J. & J. 10 .ran. '93. 5 Oriental*... 25 300,000 430,900 J. & J. 10 8 Feb. '93. 2 8 Pacific* . . . . 50 422,700 456,800 Q.-F. 10 Jan. '93. 5 Park .••.••.. 100 2,000,000 2,966,i, 00 J. & J. 10 10 Jan. '93. 5 People's* . . . 25 200,000 326,600 J. & J. 10 6 Jan. '93. 3 6 Phenix . . . . . 20 1,000,000 455,400 J. & J. New. 99,000 . . . ... . . . . . . . . . . . . . . . Plaza*...... . . . . 100,000 6 Oct. '92. 3 6 Prod.Exch.* 100 1,000,000 284,100 A. & 0. '93. 4 Jan. 8 8 J. & J. 905,000 1,500,000 100 ... Republic 45,700 ..................... .. ... ... ..... . Riverside* 100 100,000 '93. 3 Jan. 6 6 J. & J. 142,100 500,000 100 St.Nicholas* 6 Jan. '93. 3 612 Seaboard ... 100 500,000 219,700 J. & J. '93. 5 Jan. 10 10 J. & J. 477,800 300,000 Second ...... 100 6 Jan. '93. 3 6 87,900 J. & J. ~~venth .... 100 300,000 . ................... ..... ..... ..... 96,000 Sherman* ... 100 200,000 8 Jan. '93. 4 8 Shoe& L'thr 100 500,000 265,800 J. & J. 6 '93. Jan. 12 12 J. & J. 352,100 200,000 Sixth ....... 100 6 Jan. '93. 3 6 8out1!.ern ... 100 1,000,000 159,800 J. & J. 21,600 ........... ...... ............. ... . . State ....... 100 100,000 6 Nov. '92. 3 fl Bt3!teofN.Y* 100 1,200,000 500,000 M. & N. Third ....... 100 1,000,000 108,200 J. & J. Nil. . ..... July '90. 212 4 Jan. '93. 2 2 Tradesmens· 40 750,000 200,800 J. & J. 93,700 ........................... ....... . Twe'f.Ward* 100 200,000 11,800 . ......... ........... ...... ....... . 23d Ward* .. 100 100,000 200,000 180,100 ............... Union Sq.* .. 100 8 Jan. '93. 2 8 U. States .... 100 500,000 506,200 Q.-J. 6 Jan. '93. 3 5 Western .... 100 2,100,000 283,600.. ....... 12 Jan. '93. 6 West Side* .. 100 200,000 273,200 J. & J. 12 t Dec. 9, 1892, for National banks and D ec. 15, 1892, for State banks. NEW YORK AND BROOKLYN GAS COMPANIES. Dividends an.d Interest. GAS COMPANIES. (Brooklyn deal, see Par. Amount. Period. '91. '92. *Date. ¼ V. 56, p. 82.) [VOL. LVI. NEW YORK CITY FIRE INSURANCE COMPANIES. COMPANIES. Net DIVIDENDS. Surplus, Jan.I, Par. Amount. 1892. * 1890. 1891. 1892. Last Paid. c_AP_IT_AL_.__ I __ -----l--•1----~----•I-- - - - - - $ $ American .. . Bowery .... . Broadway .. Citizens' .... Com'nw'lth . Continental. Eagle ...... . Empire City. Farragut .... GermanAm. Germania. .. . Globe ...... . Greenwich .. Hamilton .. . Hanover ... . Home ...... . Kings Co ... . Man.&Build. Nassau .... . . Niagara .... . Nor.th River. P a-0iflc... . . . . . Peter Cooper Phenix . . ... . Rutgers' ... . Stuyve ant. Unit'dSta.tes W estchest'r . Williamsb' g. 50 400,000 242,167 52,945 25 300,000 25 200,000 150,992 20 300,000 228,149 35,461 100 500,000 100 1,000,000 1,645,761 40 300,000 660,312 38,304 100 200,000 41,096 50 200,000 2,255,389 1,000,000 100 501,000,000 913,959 36,642 50 200,000 25 200,000 112,431 25,247 15 150,000 50 1,000,000 455,438 100 3,000,000 1,170,148 20 150,000 166,537 38,166 100 200,000 50 200,000 212,135 50 500,000 320,783 13,020 25 350,000 25 200,000 250.125 20 150,000 167,103 501,000,000 510,721 25 200,000 100,100 48,005 25 200,000 25 250,000 213,467 10 300,000 421,802 50 250,000 612,476 10 6 10 10 Jan.,'93. 5 6 6 July,'92. 3 11 10 Feb., '93. 5 6¼ 612 612Jan.,'93. 312 3 6 Jan., '93. 3 14 14 14 Jan., '93. 7·7 1212 10 12¼ Oct., '92. 712 6 6 ...... Jan.,'93. 3 10 10 10 Jan., '93. 5 20 20 20 Jan., '93.10 10 10 10 Jan., '93. 5 8 8 8 Jan., '93. 3 10 10 10 Jan., '93. 5 6 6 Jan.,'93. 3 10 10 10 J an.,'93. 5 10 10 10 Jan., '93. 5 12 12 12 Jan., '93. ~ 6 6 412 July, '92. 1 12 10 10 10 Jan., '93. 5 10 10 10 Jan., '93. 5 6 6 6 Oct., '92. 3 12 11 10 Jan., '93. 5 12 11 10 Feb., '93. 5 10 10 10 Jan.,'93. 5 10 10 10 Jan.,'93. 5 61g 6 6 Jan.,'93. 3 11 10 l O Jan., '93. 5 10 10 10 Feb., '93. 5 20 20 20 J an., '93.10 * Over all liabilities, including re-insurance, capital and scrip. 11 NEW YORK AND BROOKLYN STREET RAILROADS. For earnings, etc., see CHRONICLE index. Dividends and Interest. A.mount. Rate.* Period. Date. $ '91. '92. t C),v Par. $ RAILROADS, -- - - 50 1,195,450 -J,,,-J. 6 6 Oct'92,llg 500 140,500 &N. 7 7 May 1, '94 1,000 1,453,000 A.& 0. 5 5g. Oct., 1909 1,000 1,W6,000 A. &O. 5g. ~g. Oct. 1, '31 500 125,000 F. &A. 7 Aug. l,'97 500 150,000 F. &A. 6 6 Aug.1,'97 100 900,000 J. & J. 112 112 Jan.'93, ¾ B~!~~~~:e~Stockli 7 Janl,1900 1st mort&age ........ .. 1,000 700,000 J. & J. 7 100 2,100,000 Q.-J. 10 10 Jan.93,211i B'way&7 Av.-Stock,i 1st mortgage .......... 1,000 1,500,000 J. & D. 5 5 June,1904 2d mortgage .......... 1,00@ 500,000 J. & J . 5 5 July,1914 B'w'ySurf.-lstM. ,guar 1 ,000 1,125,000 J. & J. 5 5 July, 1924 2d M., int. as rental. 1,000 1,000,000 J. & J. 5 5 July, 1905 So. Ferry RR. lstM.gu. 1,000 350,000 A. &O. 5 5 Ap.1,1919 100 525,000 Q.-F. 8 Broadway (Brooklyn) ... 8 Nov.,'92,2 5 Co'sopti'n lstmo~age ... ....... 1,000 250,000 J. & J. 5 do 5 1st M., ates Av. iuar 1,000 100,000 J. & J. 5 10 9,000,000 Q.-J. 8 Brooklyn City-Stoc §.• 8 Jan.,'93, 2 Gen. M., red. in 1916 . 500 &c 3,000,000 J. & J. ....... 5 July, 1941 B'klyn Crosst'n 1st M. 1,000 200,000 J. & J. 5 5 July, 1908 1906 Gr. St. & Newt'n 1st M 1,000 200,000 F. &A. 5 5 Cal.Cem.G.P.&B.lstM 1,000 200,000 J. &D. 6 6 Jnel,1907 1897 New.Wmsb.&Fl't.lstM 1,000 200,000 F. &A. 7 7 1910 G.P.&Lorimer St.lstM 1,000 125,000 M.&N. 6 6 100 1,000,000 Q-F 4 Nov.,'92,1 4 Brooklyn City & N ewt'n 5 July, 1939 Consolidated mort .... 1,000 1,000,000 J. & J. 5 100 200,000 Brooklyn Heights ....... ..... ·:f· 1st mortgage .......... 1,000 250,000 5 100 6,000,000 Brooklyn Traction.a .... ........ 100 3,000,000 Preferred stock ....... ---100 600,000 7 7 oci:02;i~ Central Crosst'n-Stock. &N. 6 6 Nov.,1922 1st mortg~e .......... 1,000 250,000 100 1,800,000 Q.-J. 414 512 Jan. '93,(1) Cent. Park. .&E. Riv.c 7 Dec., 1902 Consol. mortgalft .... 1,000 1,200,000 J. & D. 7 100 650,000 Q.-J. 8 Christopher & lOt Stt .. 8 Jan.,'93, 2 1st mort., 5s, 6s & 7s .. 1,000 180,000 A. &O. 7&c 7&c Oct., 1898 100 1,000,000 Nil. 4 Oct.,'92, 4 Coney Island& Brooklyn 5 Janl,1904 1st mo~ar .......... 1,000 300,000 ~-c&·i 5 .. ass 20,000 F. &A. 6 6 Aug.,1906 P. P. & . st M., 100 1,200,000 Quar. 8 8 Nev.,'92,2 D. D. E. B. &Bat.-Stock &c &D. 500 J. .......... 840,000 mortgage 7 June,1893 1st 7 6 Feb., 1914 Cert.of debt,sub. to call 100 {F&A. 6 1,100,000 s'bject F&A. not 100 Do 5 Feb., 1914 5 100 1,000,000 Quar. 10 17 Dec.,'92, 7 Eighth Avenue-Stock .. 100 &A. F. 1,000,000 6 6 Feb., 1914 Scrip................... 100 748,000 Q.-F. 16 16 Feb.,'93, 4 42d & Gr. St. Ferry-St'k 1,000 236,000 A. &O. 7 7 A.pr., 1893 100 2,500,000 4i<I'tf.~r:f~iesi: Nil. . 6. ..... Mch.,1910 .... 1,000 1,200,000 6 1st mortgage ...... Jan., 1916 2d mort.mcome 6s .... 1,000 1,500,000 J. & J. 6 100 1,050,000 Nil. Nil. Feb.,'86 2 H. W. St.&Pav.F'y-St'k 500 500,000 ~c&·"i 7 . 7 July, 18 4 1st mortga~.......... 197,480 20 J a.maica & B' yn-St'k. ·5·· iaiii-,i9ao 1st mort~a~, gold .... 1,000 415,000 J. & J. 5 100 30000000 action.a. Long Islan ---· .. iuiy ;•9!i, ·1 .3 100 24000000 J. & J. 4 Metropolitan Traction.a 100 800,000 Q.-J. 112 412 Jan.93,112 Ninth Avenue-Stock ... 1001,862,000 Q.-J. 4 412 Ja.n.,'93, 1 Second A venue-Stock . . 5 Nov.,1909 1st mortgage ......... . 1,000 1,600,000 M.&N. 5 Beckton Construct. $100 $2,500.000 . . . . . . . . . . . . . . ......... .. ... .. . . 150,000 J. & J. 5 5 Jan., 1909 1,000 ............ Debentures Pref., (V. 56, p. 82) 100 2,500,000 . . . . . . . . . . ... 8 Q.-J. 2,000,000 100 . . b 9 Jan.93,1¾ venue-Stock A Sixth 4.. ·Nov.;·•gi:i°. Third A venue-Stock ... 25 2,000,000 Various 2 Brooklyn G.·L.-Stk. Nov.,'92 3 &N.12 M. 5,000,000 7 100 Aug., '92.2 4 500,000 F. & A 4 50 Central-Stock . . . . . . J. & J .. 5 5,000,000 1,000 5 J'yl, 1937 .......... mort~age 1st . Mi Citizens' G.·L.(-B'kln) ( 8 Q.-F. 600,000 100 10 10 Feb.93,212 Twenty-third St.-Stock see11ane ous Com pan ies. Consolidated... . . . . . 5 ee 7 May, 1893 1st mortgl).ge .......... 1,000 250,000 M.&N. 7 8 Jan. 16, '93.3 8 Equitable-Stock.. .. 100 4,000,000 Q.-J. 5 Jan., 1906 Debentures ............ 1,000 150,000 J. & J. 5 5 Aug. 1, 1899 1st mortgage, gold. 1,000 1,000,000 ,F. & A. 5 J. & 375,000 J. 5 July, 1924 1,000 5 ... M::.§1lar 1st 'way, B 5 Mar. 1, 1932 Consol. M., 5s, gold 1,000 1,730,000 M. & . s. tock .. ............ 2,000,000 . .......... ...... . ... ···:1Ci2 Railway 9¼ 8 Jan. 14, '93.2 Union Fulton Munic.-Stk.. 100 3,000,000 Q.-J. 000 F. & A 5g. 5g. Ag , 9 000 2 ..... . ,g g .... g old e a mort 1st 6 Jan.1, .1900 300,000 J . & J. 6 BQnds, red. at 100. 1,000 6 Dec.30'92.3 870,000 .1.&D.30 5 Metrop. (B'kln)-Stk. 100 * The figures-in these columns represent for stock the rate per cent ot 612 Jan., '93.3 Mutual (N. Y.)-Stk . 100 3,500,000 J. & J. 5 dividends, for bonds the rate per cent of interest per annum. 1902 6 125,000 M. & N. 6 1st M., red. at 100. 1,000 t This column shows last dividend on stocks, and maturity of bond,. 6 Oct., 1892.112 6 25 1,250,000 Q.-J. N,1,ss~u (B'kln)-Stk. • II Leased to Twenty-third Street. 08.'s option. 5 700,000 M. & N. 5 Scrip ..... .. ........ Var' t In June, 1890, leased to Central Oros town at 8 per cent per annum. 6 Dec.15'92.112 10 1,000,000 Q.- M. 6 People's,(B'kln) -Stk. Ferry at 10 p. c. p~• annum. Pavonia. & St. West Houston to Leased ,r May, 1907 5 400,000 M. & N. 5 1st M. red. at 100. 1,000 § Stock authorized, $12,000,000. See L. I. Traction Co. in miscellaneous. Apr., 1900 6 94,00C A. & 0. 6 Debenture, 10-20s . Var's Companies.'' Miscellaneous " -See a Jan., '93.1 3:\i (1) 8ta~dard, pref.-Stk. .. .. .. 3,500,000 Quar. b Leased to Houston West Street & Pavonia Ferry Company, rentalt. 6 Ja.n.,1893.112 per 7 50 1,000,000 Q.-J. Williamsburg........ cent per annum from October 1, 1892-1 :\i per cent quarterly. ri Apr. I, 1900 1st mortgage ...... 1,000 1,000,000 A & 0. 6 c Leased to H. W. 8. & Pav. Ferry for 999 years. Rental 8 per e.eni ,. '.rbli oo.luDW alww• 1..8.uaivid.elJ.d .0.11 Ml.ol:.k•, andJUa.tw:Uy ot bonds. on .at.Dok tor 5 years; tb.e.r.ea,tter 9 per .cent. See V. 55, p. 894'. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ······1·············· 0 AtlanticAv.(B'klyn) st'k 1st mortgage ....... ... General mort age ..... Cons. M.., $3, 0,000, g So. Brook. Cent. 1st M. 66 -----· i:&·o: ----------- ---------· ---J.:.:..f. I N: iv: ------ i\:r:·&·s: ---· 9 HUI RAILROAD EARNINGS J .A.NU ARY, 189~.] · MONTHLY EARNJNGS OF PRINCIPAL RAILROADS. l't'lal'Clh. Feb. Jan. ----------11------Top. & S. Fe Sy• I f ' 11.t. 1889 .•.....•...• (7,112 m.) . 1890 ............. (1,109 m.) 1891. ... (7,114 to 7,124 m.). 1892.. . ......... (7,180 m.) St. L. & 8. Ft-.~- 11.1800 • .. •••..••. (1,855 m.). 1891 ............ (1.864 m.J. 18112 •.••••••••.• (1,664 m.) Arch. & San Fro.n.- 1800 .••.•..•.•• l:e.965 m.) . 1891. ......... 8.98\l m.) . 1892.. . . . .• s,m m .). Baltimore & Ohio1869. . . . . . . ..... (l,t:!48 m.) . 1890 .... (1,868 to 1,894 m.). 1891.. . ....... (l,8114 m.) . 1892 ............. (2,036 m.). 1,979,175 2.279,162 2.47J,848 2.620,595 1,864.988 2,221,818 2,217,029 2.6.!.!,018 1,954,872 2,6l!5,142 2,578,818 2,708,249 552,028 613,216 599,5J3 603,669 569, l l~ 68\1,250 619,464 654,093 687,620 April. f July. l!Jept. .Nov. Oct. J ane, May. - -·---- --- ---- --- -------I All&'o ' 619,975 634,tl6 625,369 695,684 66~.1162 6\lt:l,064 784,807 1st.a14 9U2.301 770,612 839,311\1 951,821 8A0,6of> 942.065 001,572 787,70'3 827,720 812,68d Dec• • Total, 2,688,78'1 28,1.fe,456 l!,\182,445 8.000,ota •3,110,751 87,588,016 720,168 780.843 *776,168 gg:~:1¥ 8,250,l(61 8,697,874 9,l6~,960 2,252,482 2,233,217 2,308,Wl 2,883,450 1,9/\0,449 2,00!,l!b2 Y.11\1.008 1.181,454 2.180,898 l!,227,0:H 2,142,344 *2,24-.!,20tl 22.427,098 24,819,529 24,1145,182 26,0jl,214 159,582 16\1.406 181,44 193.1175 161,824 194,088 ~16,050 212,2J7 212,8711 212.707 267,474. 199,960 22l.541 237,7.ffl 2l9,270 220,211 l!llJ.555 28o,C05 2,U,577 203,228 191,856 2'.!3,663 212,243 008.967 19,-.,254 284,a:'.S\I •222,as2 2,177,9lffl 2,32Q,071 2,500,694 2,644,999 217,716 231,Soo 261,828 277,460 210,267 209,427 2118,340 838,421 217,729 237,lM 272,678 315,055 282,745 285,000 830,75 852,729 298,009 862,889 4211,874 4j7,<i00 858,521 887,470 456.578 477,00l! 282,040 318.~5 396.915 4,6.005 268,997 306,IOl SQ4,957 418,355 2,986,549 S,808,988 8,AA6,840 (,35i,7VO 1,100,099 1,300,850 1.002,920 1,702,6-U 1.256,361 1,408,000 1,60,1,482 1 ,793,277 1,375,528 1,511,()10 1,680.592 1,796,005 1,421,755 l,5.'J0,000 l,7St,985 1.820,89!; 1,488,407 1,607,715 l,83o,tt5U l,!:17o,08l 1,620.976 l,7116,«7 l!,012,50~ 2.112,763 1,478,695 1,734,tOO 2,0:il,0 -0 :&,0~,451 1,265,801 1.54~:S.491 1,1114,814 *l,tSS0,000 10,080,660 1,,oa2,s16 20,2.U,096 21,895,228 848,608 980,234 1,080,021 000,688 8:.!l,702 906,607 1,07\1,709 1,168,>i~0 943,294 1,019,841 l,05!,950 l,l<lM.050 1,160,601 1 ,100,980 l ,196,l!OO 1,2M,443 1 .194,,099 1,812,597 1,317,759 t.884,5~ 1,810,928 1,369,086 1,295 534. l,81•5,042 1,811,U•U 1,186,281 l,~7.~44 1,271,63-{ l,Mi,~118 1,805,160 l,,H2,\177 l,40d,412 1,271,708 l.172.3ll 1,111,607 18,41n,894 1.281,292 1,176,897 13,668,726 1,221,471 l,155,40d 14,201,767 1, 109,7!:!6 688,874 585,487 648,663 7~.011 864,112 925.718 S77,216 1,00..!,370 581,267 714,2M 898,61)9 9J9,78t 623,~ 705,734 931l,39l 901,3118 161,145 180,531170,874 U0,576 162,882 200,llo 185,722 218,2911 153,4i)7 176,U22 *183,633 18d,52'" 156,SSll 176,-!66 187,880 19-J,142 216,128 205,628 228,259 1889 ........... .. (t,04ti m.~. 271,g\14 216,183 270,8~ 1800 ............ (1,046 m •. 251,784 2fl5,851 800.571 1891. ... (1,046 to L,083 m. . 831,811 386,497 ats4,588 1 /i~~ m.). 897,91?8 844,046 1,128,628 188\1 .... (4,7115 t u 4.957 m.}. 916,257 1,288,960 1800. ,_(4.957 to 5.M4 m.). 1,034,122 1891.. .. (5,5114 to 5,781 m.). l,865,2l!l l,888,4g4 1,510,081} 1892 . .•• (5.767 to 5,95!:l m.). 1,609,102 1,456,869 1,58\1,799 199,603 206.681) 254,267 29'J.957 1,187.427 1,3'.!0,481:1 l.608,801,671,817 Burl. Ced. R. & No.- 2,741,978 3,072,88() 8.807,6,~ 3,561', 187 2,079,287 :.!,222,823 ~.82'2.IW~ 2,51l4,709 179,905 188,521 185,006 235,300 IIJ.). m.) ' 8,040,768 8,858,882 a.5S2,as1 8,741,190 2,lSS,784 2,251,0~7 2.372,1511 2,!15,lll 1.721.848 1,002,207 1.845,ldO 2,0i8,203 m.) . m.). 68~,788 708,995 760,817 ' 2,691,550 8,1.'17,549 8.429,M9 8,666,49: l,OOd,611 2,072,761 l!,219.077 2,086,556 1,682,185 l 748,818 1• 03,187 UJ44.i84 t,0:tJ,021 1 .916,864 1,948,240 ,960,860 1,999.IIO& 2,031,805 2,087.08:~ 2,ltl6,766 1,452,':'87 1,720,716 1,709,1120 1,\128,760 188\1 ............. .. (281 1800 ........... .... ~281 1891.... . ...... ... . <'81 1892..... . ........ 281 500,866 710,<!0II 72J.7tl4 ' $ 2,492,451 2,!!94,09-t 3,la-i,062 8,40~.!25 2,831,190 2,824,9Sl 8,244,607 8,261,798 8,701,402 8,116,909 3,234,18F 8,628,899 8,008,161 4,22':,53f, S.860,581 8,602,612 4),492,861 3,087,094 2,7811,241 3,2!7,9ll 8,308,655 3,619,145 3.556,401 3,65t,878 3,866,87tl 4,268,758 4,52t,81l6 4,183,402 l:1,870.SM 48.906,110 S,2~0,128 8,261,268 8,895,P69 8,494,412 3,770,640 8 ,780,615 8,839,478 4,310,7:.:6 4.6l8,lH2 4,6 5,i62 4,3'7!:l,82a *3,886,"14 46,602,976 1.606,819 1,924,'i58 1.90:l.453 2,045,103 Balt.&Ohlo ~outhw,- ' 2,1!87.111 2,248,466 2,094,100 2.052,138 2,641,818 3,:><>6,71 ➔ 2 ,52J.o48 2,64\1,455 2,654,289 2,953,183 2,t:!46.19:\ 2,945.878 l!,869.013 8.07t,576 8,055,881 3,088,660 C=dian.Pac\ Cent. of New Jersey1881l.... ..(627 to 652 m.>. l,044,YU, 898,974 1890............... (660 m.). 1891 ..••.•.•...•... (662 m.). 1,089.190 189l! ............... t662 m.). Ohe110.peo.kA & 0 ttlo442,787 1889 .••••.•• (75'l to \131 m.) . 61~,lll7 18110 ........ . ...... (931 m.). 654,663 189lo ..... (9l!lto 1,254 m.). 708,741 1892a ..•• (970 to 1,269 m.). 42:'i.659 577.066 623,075 705,185 439,()()'j 57l,5~ Otffi,660 474,002 640,9117 720,8t0 681,254 407,996 605,041 680,815 75:>,;j!fl 265,l29 569,681 680,346 8tj3,7o4 830,162 ...... ........ 555,508 6311,627 P'J6,938 6,149,998 7,719,614 9,3Sa.969 9,582,104 684,82J 407,777 59i,402 670,407 67"2.~ 1889 .... (6,841 to 6,520 m.). 1890 ............. (6,520 m.l. 1891. ... (6,497 to 6,6112 m.). 1892 . . .......... (6.692 m.>. 1,911\,205 2.717,408 2,829,830 3.008,700 2,412,382 2.()89,410 2.237,00! 8,068,885 ~.657,908 3,160,747 2,489,27\1 8,252,7'>tl 2.518,,og 2,74~,(~ 2,484.668 2,757,629 2,613,751 2.\/Sli, 79-2 2,618.707 2.82&,975 2 .~.060 2 ,740,5:sa 2,d0\1.1149 3 ,::126.2115 2.671,746 2.721,:399 2.761,41l5 3,214,186 3,286,718 8,0ltt,~29 3.161.&40 8,7~.196 8,180,677 :i,~-l,t!J~ 8.7l3,la6 4,135,598 8,464,594 8,523,053 3,8d0,730 4,\l38,t53 ....... ........ 1 ~............... (43tJ m.). 1~00 •..• . ..•......• (43~ m.) . 1891 •...••. (436 to 480 m.) . 189~ ............... (480 m.). 216,846 811,574 ~:~ 214,810 219,814 278,410 291\,920 207,860 26:i,755 m,291 82M63 218,989 261,812 29!,760 Sl!:!,\146 184,~ 240,415 234.318 186,029 247,415 2\18,507 814,008 209,8!3 280,076 848,183 *383.H9 252,49! 296,557 844,798 •3:;2,110 242,882 809,l\13 341,11:JII *.i\lJ,6114 263,075 842,8J7 85ti,tS56 415,-.!83 241,057 27\1,162 286.~ 370,8911 242,M5 329,294, 27\1,502 •3\lt,ll0 2,679,588 8,l397,589 8,684,ld2 4,192,5i>5 1889 •.• .. . . .••. (5.67!:l m.l. 1890 .... (5,678 to 5.659 m.). 1891 ............. (5.i2l m.). 1892 •••...•.•.... (5.721 m.). 1,656,910 1,794,411 1,94tJ,196 2,420,917 1,676,608 1,798,146 1,878.1193 2,30.1,102 2,019,897 2,077,7M 2.131,BIM 2.7'1,011 1,819,(",81 1,929,768 2,007,204 l,119ti,\16fl .1149,8W 2,105,560 ~ ,147,614 2.i~,017 2.~l.618 2,58!,77, 1,977,SSlS 2,149,008 2,'i09,552 2,716,1199 2.212,692 2,3"t.2,689 2,36i,006 2,760,012 2,550,195 2,714,62!:! 8,011::1,tJoo 3,109,876 2,951,840 2,905,771 3,476.65tj 3,o53,520 2,737,S-n 2,650,\ISrl a,214,162 8,340.281 2,861,700 2,453,280 a.oo&,049 3,:.38,9Ja 25,000.2111 26,t:l10,82Y ~.800,837 83,849,612 1,618,245 l,d5~,83:. 1,898,407 2.2<16,7~ 1,560,87\1 1,758,002 1,707,tl'ill :d,266,183 1,893,414 1,1110,316 2,029,078 2,!ll:l,069 1,837,256 l!,20-:1,1127 2,0l!S.-!82 2,a56,214 2,144,942 2,299,654 2. 181.00-a 2,5.ffi,790 2,061,054 2 ,ltl'il,427 2 ,375.51J5 2 ,\170,l!Sl:I ~.267,57ll 2,461,127 2 5631:&3 2:79d:6,H 2,575,104 2.670,5.':l0 2,747,l0i 3,0tJ.!,525 2,555,500 3,0J0.65\1 3,1811,:.!LS tl.~07,'180 2,979.807 2,i,4,0,0-..!5 8.~7~,51'7 8,30!,4W 2,513,452 2,5:~,1171 2.7&2.~l l!,!;7-1,653 2,182,964 ~,ld:3,176 2,5&,817 2,tjtU,657 26,185,280 28,031:1,207 29.814,0"N S-J,770,9611 1,186.098 1,156,470 1,097,48: 1,292,545 1,134,137 l,15!,917 l,02t,872 1,421,438 1,442,708 1,855,9~6 l,2l9,t:l63 1,403,lle.":S 1,126,084 1,239,209 1,2"7,t:!15 1,.i36,421 1,213,422 1,465,0ll l,2~1,798 1,256.8111) 1 .212,018 1,158,511 1 ,2➔7,692 1 ,470.1,10 1,854,253 1,275,109 1,376.9 .ll 1,475,167 1,712,710 l,5-!tt,758 l.65!:l,452 1,985,810 1,740,Sto 1,1.12.216 1,847,4.89 1,\170,700 1,792,005 l,7M,431 1,789,477 1,lil5;&40 1,39,,256 l,330,ll4 ~.559,633 1,583,91>:i l,88{1,542 16,697,677 1,853,133 1,482,Wi l,588,16tf 18,000,806 866,tt84 48!:l,806 485,7311 d30,029 429,173 451,\175 457,3'6 687.5118 582,525 5~.017 550,411 747,878 450,584 531<,075 5i0,650 626,505 481,441 5U,65"' 578,612 572,461 478,784 4!!18.233 576,274 7tl8,987 507,594 531l,92rl 656.~62 72!J,6:l2 576,160 500,17:J 68,1,321.1 788,4!:lS ~597 61.11.IJ!0 86l!,312 870,831 758,726 7tS3,l:H \177,37.i 1,02 ~,1172 668,987 677,7-¥1 8dl.4lli 1165,·ui-t 588,539 57\1,084 t:ll7,7tsl 6,422,644 6,854,521 tl,050,781 319,878 358,'\91 358,549 819,457 263,257 82i,696 831,702 3tS8,9t2 802,813 :521,400 347,302 34&,lOS 285,944 853.400 343,~2 828,698 2g4,u8 8\11,477 a82,022 3"4,001 282,817 367.35.! 348,404 Sitl,595 328,076 340,191 311"..!,508 859,838 866,00t 404,401 875,Mll 36-i,atSa 858,516 405,355 :Jd;.320 3!12,587 888,1'74 413,~v 4•17,4"8 378,26J 378,560 88.>,,762 Sd0,3.>,7 34rS,764 878.90\1 881,7-l0 8'18,600 3511,7,'.l! 8,987,637 4,447,1!!57 4,338,202 4,2ltS,700 16(),800 177,353 159,tltlfi 148,384 145,420 150,0i8 148,lllll 166,787 154,6M 148,226 154.837 148.457 188,526 146,IJ.% 150,0911 129,989 136,871 160.lt:!6 150,308 133,0\10 139,294 l47,7tt7 144,456 134,878 148,860 145,44/j 15i,319 141,11.:!3 155,238 l71l,<I0! 148,800 145,oo:J 160,84!.l 172,712 156.djl 151,273 189,564 186,173 l\18,056 165,554 180,767 17\1,567 18l,M9 165,5l::l 197,05\1 182,2~l 186,765 16Q,98l! 1,001,888 1,965,96:3 t,\1!12.924 1.79B,~ Chic . Burl. & Qulncy- Chic. & En.st. Illinotl!l- Chic. MUw. & et. P.- Ob.le. & Northwest'n1889 ............. (4,250 m.). 1800.... (4,250 to 4.258 m.). 1891 .... (4,258 to .1,.27J m.). 1892 .. ··· · · · ··(t.273 <Jl.) . Chic. R. Isl. & Pac.188\1* ............ (3,257 m.). 1890* .•.•....•.•• (:i,li-'!9 m.). lt:!91* •. (:i,409 to 3.45d m.l. 1892*..... ... ..(3,456 m.J. Obie. ~t • .P. M. & 0.188\1 ............. (1,394 m.). 1890 ............ (1,894 m.). 1891. ... (1,3Sl4 to 1,481 m.}. 1892 ............. (l,48l m.). Oln. N. O. & Tex, P.188\1 .............. (886 m.). 189v ............... (886 m.). 18\11 .............. (886 m.). 1892 ..... . ....... (886 m.). A.la. Gt. Southern- Lt:!89 ............. (296 m.). 1800 ....•...••• (295 m.). 1e91. ............ (295 m.) . 189J ............. (295 m.). Whole Erlanaer ~ys. •aos.sss ::o~:~~ ~~.656 2,007,0'ltS 3,199,778 84,067.617 2,872,181 :o!,815,78:d 86,18\J,~ 8,f>-11,110 8,5U,47rl M,85~.875 8,522,002 ½g:~~:= ........ ········ 691,462 595.080 18e9 .••.... . ..• (1,140 m.). 562,254 6M,867 569,762 577,566 8ltl,390 623,051 706,062 848,753 8.,136,274 6d2,eOO 827,0~ 775,593 672,058 806,787 1800 .......... (1,140 m.). 6.>l .47:3 1158,373 700,6911 7,8,646 778,089 698,9'>9 82t,6il 8,W65,14l 760,899 8!4,475 ~71,252 785,9ib 1891. .......... (l,H0 m .). 7t6,478 6i;8.419 6511,8.',0 6t2,M4 &H,000 l'l8\l,5U 765,996 8·~ ,6.:ro 8,850,1110 698,5111 ~.71M 681,225 757,456 1892 .... . ..... (1,140 m.). 625,719 674,t:M 64l 49J 704,tl:'ll !-02,61,11 ~,58J,7l!8 648.9JS 767,:.106 706,?!U 695,6~8 7~5.2d2 Cl. Ci11. Chic. & ~t. L.98\1,206 1,027,816 1,046,598 1,118,853 1,124,254 1,111,765 1,207,077 1,252,b80 l,26<1,071 1,169,883 1,183,492 18,810,131 1800 ....•. . . (1.6 i~ m.). 1.017,992 986,595 1,056.008 1,040,052 1,026,723 1 ,06l),7iU l,2d3,67~ 1,3!8,8':l.3 1,80.3,134 l,:.!\ll.502 l.l!U,96J l,338,M\19 13,99~.6,2 1891. ... (1,632 to 1,852 m.). 1,076,807 1,100,616 1,l0d,497 l,19a.896 1,118,784 1,0117,35! 1 ,:s0l,01\1 l,~,750 1,414,IIOil l,&97,!H l,351,00o l,2l5,3JII •t,261,!63 14,468,27\1 ·v;·~~!Ei· c;lftiock: 1889 ..... ........ ·~8~5 m.) . 1800 .............. 325 m.). 18111 ............... 327 m.) . . .... . (827 m,) . 1892.... Oenv. & Rio Gro.ndf"- 1889 ..•. (1,481 to 1,517 m.). 1800 . . . • . .• . .. (1,499 m.). 1891.... (1.575 to 1,6-17 m.) • ;.392 .... (1,687 to 1,646 m.). k11t Tenn. Va. & Ga,IBSg, ........... (1,140 m.). 1800 .... (1,181 to 1.881 m.). 1891. •• (1,331 to l,2~8m.) . 18Wb . . (1,611 to 1,l!53 m.J. ll'llnt & Pere .flo.rq,188U............... (87U m.). 1800............... (6ia7 m.). fggJ•:::::::... ::::~~:i ::~: Gt. North' n System- 1190 ........... (3,l!8l! al.). ...... (8,842 m.). 1891 lt:!92 ••. (3,682 to 8,928 m.). 19\1,476 164,-Ul 209,277 'U7,599 174,112 163,0l6 178,170 221,630 174,185 212,744 22tl,U0 234,864 250,oi7\I 285,9~ · 196,753 25\1,153 231,504 2!:J7,264 197,48t 240,960 ~2.150 2i8,677 219,581 ~77.~ 318,85/J 277,560 253,680 2d6,5l9 S3·U34 300,834 248,976 ::115,159 M--1.52i 322.5~1 261,631 3S5,l-l7 sa5,48l 816.410 214,890 soa.~57 2'i7,587 •~J,8th! 198,781 259,ZS,, 29;:1,0clS •2Y7,l:!28 2,524,635 8,078,im 3,21f;j,9:l5 3,870,002 572,592 606,49l 65l,6t7 728,842 497,077 5~.128 MS.215 i0l,9113 579,606 006.584 li05,218 693,7a8 581,046 63<i,4\13 656,936 621.680 647,792 700,548 681,t:l2i 6&5,4\15 696,200 700,.,0S 7U,ld9 "75,2~ 7.?4,092 8l0,017 7tJ8.~ll 770,578 718,885 d19,44d 7-!4,06j 943,4013 754,543 83-1,01'\1 801.698 825,H0 816,220 87:.!,1~9 1'15t,ll44 815,titU 7tl5,S75 !:lla,800 74l.ol4 818,69:i 697,717 838,831 "'1'6,69U *77d,700 8,0tfj,6JJ 8,875,7~ I o.48"1,'°S 9,l\17,:4J0 510,641 655,~98 692,l'l91 589,156 513,828 571,572 579,018 *621,585 509,960 58a,9d0 587,9l'l *596,802 ~.1'58 .. 5;817 472,771 •014,811• 49Ull dta,lll0 54.:,,991 •!88,5411 583,074 6.>8,066 550,9411 •j25,t\13 577,021 660,854 624,97;., •5!Jl,544 661,661 iOt,OdO 71.14.,500 •o91,5H •aa,,zuo 624,188 658,070 615,lOi 638,220 6111,715 600,ttl4 •5eo,8,11 6,418,751 7,491,882 7,092,518 202,062 2l!..'l.lll 258,1165 242,108 171,l507 25\!,454 236,5tffi 29!/170 286,794 807,58\1 201,628 274.825 25ll,461l 280.412 198,864 224,401 225.111 216,082 19S,7d2 225,0'M. 239,55o 2.!5,484. 1811,122 232.131 2-!5,15!1 2a1,104 208.278 187,430 2lt-,6.i,, 21M,MO ~5,015 210.so; 2411,441 l!54,::vS4 2,870,UU 2,1123,&75 a,000,62t 2,880,557 226,8~ :t00,276 160,6M 258,378 56d,i57 gra:1?A 592,2H 491,6tU ........ 549,600 ........ lW,385 247,456 214,450 2lt:l,59tl 176,27'.J 225,-.!40 220,014 2l2,0tll} 254,IJ-!2 256,e06 ~0,808 ·~.583 ........ 625,362 526,534 878 ,17 910,3{)8 774.558 918,106 889,889 1,811.453 1,514,920 l,55tl,8t·4 l,tS2,318 11,944,0ill 010.4tJ9 79:i,703 656,026 892,58L 983:831 l,1J24,95'.i 1,026.~4 l,0Jl,fllb 9.:!d.511 l,f>tltl,t:!59 1,t:ld;,\llh l,~.4\15 l,5lli,7Hf 14,178,678 9}8,102 1,018,045 1,444,680 l,0::!1,541 99.2,169 l ,142,668 l,17M,367 1,1:11,9-W 1,650,783 2,021,79! 1,1135,449 1,575,736 16,176,1)74 [lllnol11 tJenrral.1889. ·-<2,767 to 2,875 m.). 1,254,865 1,226,695 1,217,990 1,007,947 1,259,018 1 ,201,686 1,230,108 1.864,912 t.467,86011,6,C,,OS,, l,o51,712 1,!Sdl,48? 16,114,842 1890 . . .• . .....•• (2,875 m.) . l,M5,~l 1,270,418 l,301,\IU8 1,235,\178 l,30!:l,8"8 1 .12<1.-~60 1,280,590 l,4l!S,dl!7 1,552,9:.!l l,754,08a l,tll6,031 1,61)2,786 16,9ltl,131! 1891. ... (2,875 to 2,884 m.). l,5l6,l82 1,408,310 1,415,830 1,876,5i2 l,4l!3,578 1 ,411,3~ 1,501,t:lx! 1,576,241 1,663.76~ l.8511,LM5 1,713.77~ 1,880,786 18,786,905 1892 .•• (2,884 to 2,889 m.J. 1,504,832 1,070,l63 l,566,tl66 1,410,80!:l 1,458,353 1,605,,25 1,419,566 l,5gl,017 1,762,821 l,83l$.85l 1,758,390 *l,7o7,\IJ4 lll;!94,699 · Iowo. ,;eatral- 1889 ...... ........ (509 m.). 1800.............. (497 m.). 1891 ............... (497 m.). 1892............... (497 m.). 116,661 122,989 127,341 173,956 128,656 UJ6/>22 1-'6,0511 150,2'12 117,180 188,821 152,684 14>,8~i 92,495 110.099 127,781 127,730 107,80i 127,452 106.820 123,508 109,416 114,17'i 117,589 152,700 109,755 l~,581 ll!.'i,d28 U3,901 LS,ol,497 150,252 156,dl2 165,8d7 144,018 172,93~ 181,45~ 18i},70i 171,511 180,447 196,6tJ3 llJtl,1)18 15~.85~ 178,853 169,081 us.ssa l46,40ll 155,oo~ l'J:i.711 *187,~ l,526,28i 1,688,i l,t!OS, 1,928,2 ~ m.,. 186,451 242,715 251,1198 285,27\1 202,821 211.358 226,b35 2tS3.8~ 207,358 232,508 25:i,464 27d,015 184.648 ~38,3i<i 230,952 26ll,135 186,097 257,1{12 251,42\1 253,063 180,876 281,410 2a8,tD5 262,391 209,6~ 2i9,a89 307,008 800,165 263,18\1 29d,li\l oltl,46i 853,2'25 321,000 2:il,4~7 295,81/!t 3!8,219 232,143 280.~~ 808,555 206,800 :M6,641 278,491 293,530 2'.17,092 2711,tS44 818,820 *81~,4'7 8.278,855 S,otSo,760 1,398,647 l,o'il.827 1,500,515 l,bSl,584 1,~.528 l,496,8i6 1,529,781 1,78.l,656 1,476,878 1,518,177 l.552,0R9 1,758,407 1,315,863 1,478,007 1,507,048 1,6l16,0:a7 l,882,6o0 l,5n,:.nt' 1,496,5U, l,707,tl7 ,871,855 ,485,274 ,510,467 , 716,1\16 1,448,495 l,545,18l! 1,866,791 1,834;171 1,637,277 1,706,\139 l,79rl,OM l,lll7,87a 1,615,419 1,1165,728 l,8~,106 l,II07,1:a6 177,420 169,260 192,300 202,808 170,4a7 168.~ 184,497 228,2-il 176,269 19U,tl811 217,886 261,004 186,396 200,tS44 207,001 26~,7ll 198,89! 214,\161 ~0,91, 2584~ 201,727 231,(24 ~9.299 :.!85,175 217,152 214,930 ~0.61S7 · 245,616 l!77,201 272,870 83~ 159 2\li 257 240,003 26.&,095 291,826 s~.m Lake Erle & West'n188\1............... (589 m.). 1800 . ....... (589 to 722 1891. .............. (722 m.) • 1892 . .............. (722 m.). Louiavllle & Nn.11hv .- 1889.... (2,176 to 2.181 m.). 1800 .. •• (2,196 to 2,248 m.>. 1891 •• . • (2,248 to 2,866 m.). 1892 ..,(2.866 tu 2,9.:18 m.). Lo ■t11v. N. A. & Chlc.1888............... (587 m.). 1800 ............... (5.'17 m.). 1891 ..... . ......... (687 m.l. 1892 ............... (587 m.; . •-"" vvru.x1u.1<, t...: ~ures. a Elizabethtown Lexington & Big Sandy, &c., Included from July l. b Includes Loutavllle Sou them and Mobile & Birmingham for drat tour months of 1892, but not for other periods, c Embracing ooneotlons round neces:iary after monthly total& bad been publlahed. laolu4ell CIJlclnnatl Wabash & Mlobig~n In 1891 trom July 1 and tor th& whole of 1892 1 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 844,ooa 2,517,601 S,074,'39 1,768,496 1~.,16 1,654,053 ltt.011.M 1,71:!S,9'.JlJ l,d75,7UI} 1,651,839 19,161,ftl *1,1168,028 l.8~1,04 ◄ l,7\11,~l 21l,2-l7,047 2,038,152 1,956,609 •1,992,265 21,820,845 243,&t,I :.00,251 2'7l!,412 809 879 209,sg() •llal,981 ~2S.M87 000 ,o~ 230 7llS •:n1:ooo *220.~ *25& 532 2,490,821 2,680,182 2,840,611 718 INVESTORS' SUPPLEMENT. 186 [Vot.. LV1. MONTHLY EARNINGS OF PRINCIPAL RAIL;ROADS-(Oonchtded). -llle:xlcan -----·---CPntra1- Jan. I 1889e ••• (1,897 to 1,527 m.). 1890e .••.....• . . (1,527 m.J. 1891e •• (1,527 to 1,808 m.). 1892e •• (1,803 to 1.84.7 Dl.). 1516,672 587,045 588,770 618,0'.d2 1889 ... ........ .... (868 m.). 18W ............ ... (868 m.) . 1891. ...... ........ (855 m.) . 1A92 ..••....•... •.. (855 m.). ½~:~~ Dlnnea1>. & !!,t. Louls- Mo. Kan11a11 & Texae- 83,890 126,925 Feb. March. S I April. I May. ; 457,906 569,567 588,129 607,850 1564,075 573.8~5 558,010 d85,665 527,670 M5,264 591,846 651,84.\1 564,MS 524,244 571,485 . tl70,882 98,172 109,586 98.587 m:~ 1gg:~M m:m 161,792 168,478 140,816 June. S .July. I Ana-. I Sept, I Oc:it. I Nov. I ®>,912 489,056 M4.08ll 619,P76 472,598 451.008 637,815 d53,077 498,884 476,000 604,878 680,147 478,f>20 490,181 628,476 631,879 568.364 574,388 798,844 772,009 570,686 594,021 IJM.957 'illl,260 107,SOO 108.945 120,474 127,715 182,228 186,577 m:~ m:m 145,048 1~:~8 178,191 17~,-183 174,21a 1~:m 1~~:~ ~~:~rJ 200,845 ~g:ggi 176,SM 154,762 ~06,2:11 Dec. I 681,768 631.056 672.785 "708,828 Total. ,- 6.837,226 6,425,694 7.874,588 7,915,889 126,880 . 1,447,987 ~gi::J: ½:i~:~ •u~o.1135 2,02;i,804 651,679 616,431 638,981 620,855 703.240 646,875 683,620 758,774 862,392 1,062.707 86:i.174 898,279 9.004,00ts 1690..... .. . .• (1.775 m.) . 718,'itn 001,m 61H,6~ 682,483 708,780 787,499 795,820 78rt,858 1,039,758 1,1-10,818 953,400 904,402 ~.731. mo 1891 •••. (1.701 to 1.672 m.). 622,654 625,096 681,899 718,9'J8 746,824 776,618 850,452 901,096 998,096 1,046,874 965,84.8 954.700 9,838,075 1892 . .. n.672to •.~08m.>. Mo. Pac. & Iron Mt.1891 ••••.•..••••• (5.28 l m.). 1,842,668 1,882,329 1,948,052 1,929,875 l,Sll6,496 1,860,588 1,951,271 2,H4,115 2,464,118 2,785,288 2,479,829 2,461.695 25,918.106 1892 . • . .....• (5.372 m.). 2,074.472 2,137,412 2,169,2!2 1,958.429 l.9l!Wl2 2,050,747 2,129,266 2,tl62,818 2,781,751 2,782,898 2,:'.126,759 2,497,029 27,687,171 lUoblle & Obio- !889 •• ....• ..•.••. {687 m.). 1800 ••..••......... (687 Ul.). 1891. .............. (687 m.). ' 892 .•.•..••... .. .. (687 m.) . 291,637 277,059 247,aGO 257,052 245,800 ~:~ ~t:m m:1~ 197,846 254,118 248,579 298,888 216.807 258,002 1dl:!9 •••••••••••••.• (65l:! m.). 1800 ••......•.. .... (652 m.). 1891 a •••... (652 to 810 m.) • '89l2a ..• •••••....•. (810 m.). 298,080 808,58b 857,713 397,878 275,~27 279,8Ui 292,528 434,707 200,889 271,182 306,995 419,4U8 258,288 277,144 200,887 410,004 287,8~2 21)8.050 8U5/t78 418,116 1889............. (1,420 m.). 1890 •••• (1,420 to l,4tl5 m.). l~l •.••••••••••. (2,<Xl6 m.). 1892... .......... ,~.011tS m.). ~.710,150 2,~ZS,406 8,318,837 8,821,Stl0 ~.461,780 2,708,858 8.020,885 8,505,415 2,861.51l9 2.946,52.! 8.388.973 3,577,281 2.742,8n 8.02J.979 8,841.010 3,635,b-18 2,899,851 a.128.004 a,474.~ 3.648,403 Na•hv. Chatt.& ~t.L.- N. Y. C. & Bud. Rlv.- N. V. L. Erie & W.- 284.,208 m:~ ~:m 207,000 2157,228 2.M,76i 291.943 239,101 281,589 295,561 825,700 259,175 27o,85~ 806,359 400,986 2W.209 841,167 530,454 480.885 828,M0 355,6tl8 49='1,357 447,766 300,210 850,067 4?9,955 44d,127 809,511 352,0f.15 491.,\180 478,289 3.Lll.448 3,007.0lfi s.571,802 8,6U,198 2.951.919 3,004,8.17 8,713,480 3,7\JS,039 8,400.984. 2,8!8,522 4,0ffl,502• 4,061,441 S.8\r.?,298 8,215.o86 4,128,0ofi 4,212,115 3.436,316 8,278,9L9 4,173.663 4,2811,878 ~:~ -~:ffl .tti:~i~ -~i:~if -t~:~~& 289,340 848,il52 322,826 3(6,1550 8,054,144 3,441,847 293,989 328,827 440,702 425,045 309,265 347,202 48-1,tSS!l 449,tll 8,005,725 8,784,684 4,7811,442 5,156,572 3,118,405 3,099,581 4,oto,uss 4,068,509 2.981,581 8,088,056 4,ooo,98o 8,845,b98 36,056,51J8 86,258,641 44,264,061 45,590,888 -~~:~ .t~:i~ i:i~:= 1S8\I., ••• (1.682 to 1.698 m) . 1,924,291 1,711,177 2,118,191 1,958,738 2,182,5d6 2,811,604 2,588,440 2.778,708 2,526,259 2,805,002 2,479,171 2,187,861 27,512,028 1890.... . • . . . . . . ,1.632 m.). 2,155,785 2,000,487 2.242,488 2,Mo,757 2.4"'7,070 2,~,790 11,504,124 2,798,618 2,569,78.'3 2,712.7:l8 ~.514,425 2,877,685 29,201,700 2 1891. .. (1.687 to 1,1:198 m.). 80 189-l....... . . . . . (1,698 m.). -~.. - ~.. N. \'. & .New Ena-.1889... . .• . . .. (490 m.). 412.571 385.713 422.804 422.118 476,024 479,880 492,061.1 537,448 518,924 538,841:l 491,~ 478,266 6,650,504 484,40; 390,005 452,266 481,852 515,IJ33 514,88t :'.128,005 aio,no 562,784. 578,1111 5v6,7t5 482,779 6,029,125 1890••••••••••....• \ 400 m.) . 446,040 417,itH 481,949 4\lf,~ 527,328 550,!392 545,6Hi 572,104 588,790 57\1,318 529,76& 500.014 6,229.080 1891 ••..•. (400 to 6013 m.) 1892 .•.•...•.. ....• (508 m.) . 434, 1B5 451,186 475,587 . . .. . . . . . •• ,. . . . • . . .. . . . • . • . . . . • . . . . .. . . . . . •• . . . • ........ • ·....•. •. . . •. . • ...... . N~:~J~ ~:g~:i~ N, Y. Ont. & Wl'st'n- 139,281 149,0\l.'3 1890 .. ...•. (4:.l4 to 47~ m.). l~l ••••••. .•.•..... 1478 m.) 1892 .... ..•.... .. . (477 m.l m:~~ ~1~:~ 1889.. . • . .. .•.... (157 m.). 1890 .•..•.•.•.•... (157 m.). lR9l. ...... . ...... <157 m.). 1892... , • • • . .•.• (157 m.). 103,24i 104,466 115,088 118,932 1889 .•••••• (5Sn to 638 m.). 1800 ...... (\1<7 to :,047 m.l. 1891. .•. (1,077 to 1,105 m.). 18~ •.•. (1,105 to 1,849 m.). 8lt8,065 N. Y. Sqsa. & West.- N orfol.li & Weinern- Northern Central- ~:~~ 700,IK2 ~:~~::~ 190,0'Jl :::~:= :::1;:i= i:~:~i ~:~~:ir~ 174,698 100,160 191.589 ~40,088 ~:g~;:~i1 =:~~ rog:~i :~&:A~ 123,27-l 145,716 158,124 168,932 184,512 168,228 15\J,151 161.',4!!4 183,345 145,119 148.7~ 148,819 517.524 488.058 578,814 5.a'i,819 938,449 918,194 ~.a67 869,716 280,098 ~tm m:= ~:m ~:~ m::g ~:~ 81.470 E5,95~ 101,&35 113,85l 91,02{4 102,722 106,802 120,700 99,47\l 122,095 ll/6,983 184,\18\1 110,526 144.471 145,747 151,591 116,lP0 150,IJM 155.378 165,062 140,801 149,799 lbi,705 160,486 145,865 147,812 14\l.743 162,557 408,019 «il,23."\ "417.960 485,904 457,769 774,249 71S8,820 m:~~ 76(1,898 801,164 g~:~9 770,012 ~~:~ ~~:~g 429,511 769,558 ~~~:~ ::~~:~z ~:r~:~~ ::~::t! 215,465 249,028 ~~:m ~~:z~i t~:*~~ gro:g~g 214,1161 ~:~~ ~~ ~~ -=~:~~ : ~:~~ 206,435 2,461,502 124,236 180,048 135,080 • . ... 1,402,466 1,592,008 1,656.52:J . •.•.••• 505,454 5,597,126 ~8t:m ~:~~:m *830,417 IJ,871J,l!87 464,749 485,191 471,2()(1 425,171 502,4.87 416,553 M3,804 588,066 568,555 630.884 528,151 500,226 6,069,95? 1889.............. . (877 m.). f>all,118 494,~ 558.873 556,9411 531:l,972 54~,852 579,800 558,698 608,278 500,88tl 5.IB,141 483,460 6,60~, M 1890............... (877 m.). 4\J5,fitll 473,564• 5)i'7,ao5 M2.IJ79 541}.35\l 576.817 566.194 612,1015 625,IH9 651,tl79 5 · 5,4t18 618.508 6,820,569 l~l •••••••••••••.• (877 m.) . 5!11,91(1 57tl,044 544,081 5!2,282 550,991 56~.171 1587,686 658,200 650,070 71l!,280 6.!3,008 .. . .• ... • •.••••• 189'J •••••••.••••..• (877 m.). Northern PJLciflc1889 •••• (8,447 to 8,514 m.). 1,183,898 1,198,159 1,626.994 1,658,413 1,632,186 l,797,!l?7 1,925,394 2,091,471 2,125,291 2,685,102 2,226,781 1.601,875 21,741,891 1800 . .•• t8,5fJ0 to 4,162 m.). 1,177,400 l.28i,008 1.676,5~1 1,923,073 l.004,771 I.IJS0,404 2,015,816 2,120,666 2.508.2.!2 2,9i!t,820 2,5\l9,311 2,21:11,279 24,40.!,751 1891 ...• (4,192 to 4.h55 m.). 1 2 189'~ .•.. (4,b82 to 4.379 m.). 0 ,1lo & ll'Jlssls1dupi818,92'>. 2-59.265 809,563 298,459 318,970 2911.52:.1 311,078 412,605 896,l\9i 414,687 361,888 857,385 4,080,989 L88~ ............... l628 m.). 319,768 308,86~ 354,70d 314.650 362,001 805.965 820,410 411,104 8\1.1,386 800,4"8 328,ISO~ 380,525 4,139,058 1890 ...... .... .. . (628m.l. 805,9114 841,,427 309,24~ 33l!,'i0l3 804.927 356.H&i 4.18,2&, 408,001, 404,1151:l ;~t2.2J I 878.UOS 4.2L7.287 328,213 1891. .... •·••·• ..• (tS36 :n.). 810,lli 302,(117 829,546 422,344 41U,8~ 393,691 32d,064 •850,37ts 4, L?i!,948 859,575 3a2,528 8&!,980 297,378 189'.l . . . ......... , (63\S m.). 1:m:i~ u~:m~ t~~.~i git:;1 1:~::~5 ~:~:~~ u~:i~ ::a~:~ ~:i~~:= ::~:,~ ~:rJ:~g 8,981.020 5.172.004 5,440,655 6,51!'l,S.% 5,241,674 5,874,4tltl 5,679,782 5,57S,67t -~~.~·~.~~ ••~~~·~.~~ P enn11y1vanla- ltJM'.~~l,;'e'gst<>°U'oo'"m~/ 4.528,746 4,421,156 4,700,186 1890+•. (2.8110 to 2.435 m.). 5,142.311 4,851,001 5.470,715 18111 t ... c2,485 to 2,578 m.). 5,!312,475 4.7811,320 5,218.i06 181121 ... ... ... . .. (2,573 m.). 5,019,741 5,207,097 5,449,804 Yhila ;& Keadin1r- 5.032.870 5,1:119,857 5,sw,ooa 5,746,780 5,294,810 5,708,033 5,385,252 5,6711,245 5.993.00t 5,!180,855 6,212,375 6,226,607 5,428,783 5,780,38\J 6,159,507 6,098,024 5,857,772 6,192,101 6.408.160 6,290,683 5,492,800 5,495,264 61,514,445 5.658,8117 5,305,819 66,202,l!60 5.!lll4,725 5.71)6,829 67,42tS,841 tl,017,282 1890 ............ ~l,1U6 m.). 1,566,780 1,818,632 1,508.747 l,fl76,996 1,728.835 l,867,C87 1,840,988 1,824.705 1,002,712 2,128,831 l,9ll5,787 1,686.111 20,965,656 1,610,326 l,779,2'J2 1,820,849 l,9&6,874 1.91Sa,775 2,124,961 2,246,\119 1,950,357 1,881,522 22,04\l,212 1891. ............ ,1.100 m.). },712,090 189'J .•..••.•.... (l,l?a m.). 1,727,214 1,701,441 l.82~,209 1,\!17,296 1,881,253 2,02.!,646 2,164,1122 2,248,219 2,0.J3,156 U~:m «1:i~:igg Uoal & Iron Co.- 1,151,256 9-19.066 1,204,627 1,4-13,761 l,145,64i 1,854,963 18112 ..... . .... · ••····· l,5a2,041 l,77~,029 1,750,UOO Total both Uo,•s1890 . ........ ............. . 2,717,98A 2,262,697 g, 71 \374 18iH ................•.. 8,155,851 2,6ltl,5tW 2,906,363 1892 ......•................ 3,25\1,255 3,56tl,802 8,571,559 -}~::::::::::::::::::::::: Rieb, & Danv. ~ys.u:!89 ••• ,2.8d3 to 8,004 m.). 1,395,577 1,490,071 UJ02,406 1,795.841 1,747,847 2,097,116 2,151,900 1,1169,472 1,606,377 19.161,556 1,305,696 1,528,838 1,668,421 1,871},41\8 1,947,729 2,348.269 2,678,183 2,419,1148 1,784,428 21,4811,780 1,680,804 1,1:141,002 1,851,606 1,885,4911 l,IJ71,387 1,002,648 2,076,':!61 8,572,552 4,029,828 4,275,781 8,865,259 8,292,4& 40,127,212 8,072.578 8.218,406 3,!69,:84 8,911,504 4,478,230 4,1121:1,052 4,370,800 8,665,1145 48,5&!,994 2.916,0.>..3 8,802,555 8,4811,270 8,831,7-15 8,470,211 8,71:18,002 8,716,75~ 3,9\l~,984 4,067,571 4,825,0t;S i:2rg:~ 920,217 881.B'i0 919,059 884,655 868,791 1890 •. (8,051 to J.118 m.) . • l,I:i4,027 •1,o6a,400 •l,060,895 *\145,300 1.001,460 1891* •. (3,118 to 8,154 m.). 1,171.500 1,107,llOO 1,120,070 1,088,545 1,068,725 lt:!92*..... ... {8, lM m.). 982,S-20 1,106,580 1.071,080 887,420 942,825 8 f~::~:.~.~-•.~c~r::; 1890.............. m.). (242 m.,. 1891. .............. (242 189-J . .......... .... (242 m.). St. Loul11 l!!\outhwe•t.~ .. (1,177 to 1,2"27 m.). 1890 ........... (l,2.t2 m.). 18111 .......... ... (1,22:& m.) . 1892............. (1,222 m.). ~t. t"aul & . Duluth1889 ............... (247 m.). 1890 •.•••••• ., •... (:.¾7 m.). 1891. ...... . ..... ..(250 m.}. 18112 . ........... . (250 m.) . llS0,263 992,132 1,048,119 1,205.440 1,136,478 1,125.29d 11,980,610 811,724 923,949 1,021,580 1,llH,611 1,195.071 l,8ilt,85i 1,211,620 l,ltS5.035 18,21.11,820 91\3,931 1,107,020 1, 115,855 1,175,014 l,39!S,8U4 1,2111,020 1,158.220 18,i156,Stl6 900,844 947,430 78,603 97,440 118,785 118.tl3l 80,268 8\l,004 116,968 122,4411 85,816 98,985 109,u97 128,071 72,858 97,662 106,463 116,186 81,829 101,774 106.003 106,411:l 84,851 116.288 100,715 116,648 78,648 100,628 114,8\Jt} 114,811 101,188 120,653 121,168 135,245 110.985 181.260 135,102 U5,-d58 125,480 146.271 150,l'!tll:! 153,8H 106,623 l~,67b 125,315 *J82,545 104,287 125,4.l'.tl 185,190 *131!,870 1,110,426 1,886,910 1.4a5.626 1,519,554 274,6-10 375,620 8f>0,2ah 851,874 256,53'! 305,244 347,0t0 lj71,'i99 248,018 270,1111 886.418 831,978 225,468 ~~:~ 802,678 241,165 290,927 286,874 803,38~ 242,903 .26~1!9.! 276.045 292,048 271,002 807,«l 82:&,516 *388,780 886,85a 865,788 8411,460 •~4,116 888,583 386.639 447,181 *426,180 5.!6.305 490,967 5i7.2tl7 •orn,;;oo 470.883 423,059 505,755 *4tlU,4i\l 502,860 46d,676 4R0.582 •517,900. 3,985,778 4;'l0:l,487 4.5'15,796 4,613,406 60.ll9 87,243 90,700 121,402 72,284 77,351 95,140 130,7tl8 83,144 llll,718 lOR,471 149,310 85,201 105,912 114,952 137,418 104,!74 126,040 170,948 129,980 106,707 111,158 ltl7,925 184,048 122,154 140,964 157,CJa!! 203,457 131,204 138.094 152,4111 139,546 164,000 lt12,777 2211,118 180,990 178,013 24"7.541 2!8,4911 125,788 14:l,8C4 200.572 217,659 90,905 115,430 141,282 *185.6tl5 1,301,986 l,4114,2t4 l.8~,762 2,1so,u1:1a IIJ:d,799 lltouthern Paciftc Co.ltl89 .... (5,946 to 6.052 m.). 8,514.772 3,148,628 3,452,029 8,728,HIH 8,751,971 8,664,7tt8 4,026,184 4,210,418 4,892,7611 4,624,13tl 4,126.053 3,702,884 46,843,208 1$0 ............ (6,052 m.). a,183,414 2,97\J,\152 3,552,082 8,850.5&:i 4,154,~7 3,890.742 4,079,51\1 4.483,770 4,765,861i 4,9tS0,950 4,885.62tl 4,010,6115 48,352,504 1891 .... (6.226 to tt,4111 m.>. 8,858,191 8,312,869 8,?09,440 3,748,827 8,9U,2"l5 4,051,080 4,288,IH7 4,5ltS.~7 4,89'J,207 5,288,654 4,7117,868 4,184,280 50,44U.!:H6 18112 .... {6,4';"5 to d,514 m.). 8,516,481 8,400,876 3,658,4::it, s,752,isio 8,802,598 3,960,478 4,182,297 4,593,055 4,700,651 4,880,951 4,487,706 Te:x1,a & Pacltic450,693 814,165 001,180 447,077 500,382 537.283 581,591 765,261 480,682 490,425 819,'6\l 6,917,803 544,426 720,431 525,681 504,457 502,904 574,817 688,tl~ 861,4115 467,160 514,9114 782,766 7,8'J7,710 507,5-<;9 580,76, 505,454 581,9tt8 900,584 766,454 4tS0,046 498,348 5U,461 660.116 785,640 7,226,462 564,687 53\!,458 616,86.> 800,52.>. 794,t!3U *795.8 H 471,277 418,265 502,367 518,800 411.Sill 6,866, 790 ltt:::::: :::·:::H:!~ ::?: g~:i~~ ½ffl.:::::::···.·.:a::~:t ~::~~ U nloa Paclflc- 1~••••••••••••• (8.0?5 m.). 2,569,288 2,729,521 3,658.1100 8.681,20i 4,167,541 8.910,077 8,949,836 8,iH4.869 4,053,9-&6 4,436,022 4,102,658 8,295,942 f44,538,20S 1891.... .18,144 m.). 8,i.15,377 l!,77\1,02::S 8,272,986 8,8~.s10 8,411,.~7 8,524,741 8.580,2::!lt 8,82~,696 4,Srn,o5u 4,714.082 4,876,484 8,760,867 44,00ts,781 1892 ••. (8,14-3 to 8,151:l m.). 8,214,12o 2,926.415 a,29tl, ,61 3,2L8,242 8,400,1)15 8,9'20,413 8,760,150 4,075,21/0 4,585,2lt! 4,~l,511 4,235,~38 4 Woba11b- 9S0,839 1,056,3\le 1,000,816 987,784 976,984. 1,116,178 1,194,406 1.100,682 1,278,076 1,076,892 1,125,191 18,064.,554 1890 ............ (1.921 m.). 1,121,909 004,851.! 995,l38 l.031:l,tS46 1,047,SOtS 1,291,850 1,378,470 1,856,142 1,838,631 1,003,980 1.8-18.100 18,951,1~ 94i.680 1.o-~.a38 1891 ............ {l,l/88.m.). 955,:31:l~ 1,112,&:13 1,115,802 1,415,427 1,-&00,l~ 1,411,780 1,185,175 1,151,958 14,158,103 1892 •.••....•• . ... (1,ll83 m.) 1,128,l!S0 1,087,850 1,134,705 1,052,952 =:~ Wlaconeln Cenn-al1889 ... ........ ... (828 m.J •. 256,fl84 284,531 296,381 Sil,290 823,202 325,579 82i<,614 894,207 442,,17 452,495 1890 ....... (828 to 867 m.). 871,720 826,50i 406,576 404,618 890,705 426,527 1891. ............ (867 m.). 353.i-(50 40~.807 431.0KQ 517.8-!2 400,486 440.700 1R92.. . . . . . . . . .(~? m.L • Approximate tlgurea. t And 66 of canal. t S2MJ~ deducted from eamlngs on account of mail sen'ice not allowed. a Western & Atlantic included from July 1, 1891. c tm1braotnll' corrections found necessary after monthly total• bad beeD p11oll1bed. e are itlven ln Me:11:loan curren J, miles Figures https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 871,661 488,700 t81,07t! 521.987 449,531 502,851 494,827 5'i4..fl ,a 429,7~ 508.170 492,8811 M2.0~2 4:19,406 587,061 506.014 574,070 419,686 467,745 451,1\41 507.3711 855,3811 480,007 475,625 *466,331 4,267,907 6,2611,559 5.22>4,2t~ 5,828.782 The Mercantile National Bank· OF THE CITY OF NEW YORK. No_ 191 EroadVvay_ CAPITAL, $1,000,000. SURPLUS FUND, $1,000,000 . . WILLIAM P. ST. JOHN, Preeident. FREDERICK B. SCHENCK, Cashier, JAMES V. LOTT, Assistant Cashier. ACCOUNTS SOLICI.TED. H. L. HORTON & C 0., Bankers and Brokers, NO. 56 BROADWAY, NEW YORK. Members of New York, Boston and Chicago Stock Exchanges. New Vork Produce Exchange and Chicago Board of Trade. PRIVATE WIRES TO BOSTON AND CHICAGO. Stocks, Bonds, Grain and Provisions Bought and Sold on Commission. F. T, BROWN. H. L. HORTON. E. P. GOODWIN. J, F. EMMONS. MANHATTAN TRUST COMPANY, Corner Wall and Nassau Streets, NEW CAPITAL, YORK CITY. • • $1,000,000 The Company is authorized to act as Executor, Administrator, Guardian, Receiver and Trustee; as Fiscal and Transfer Agent, and as Registrar of Stocks and Bonds. The Company offers exceptional facilities to Executors and Trustees of Estates, and to Religious and Benevolent Institutions, for the transaction of their business. Deposits received subject to cheque at sight, payable through the New York Clearing-House. Liberal Rates of' Interest Paid on. Balances. OFFICERS. JOHN I. WATERBURY, President. JOHN KEAN, JR., Vice-President, AMOS T. FRENCH, Second Vice-President. R. B. GRINNELL, Assistant Treasurer. 9. H SMITH, Assistant Secretary. FRANCIS ORMOND FRENCH, AUGUST BELMONT, . . C. C. BALDWIN, H. W. CANNON, • • T. J. COOLIDGE, JR., • R. J. CROSS, • , • DIRECTORS, 1893. • New York New York New York New York . Boston New York IJOHN JOHN N. A. GRISWOLD, R. FORD. . . . . New York New York • Boston . . Elizabeth, 'N. J . I H. O. NORTHCOTE, . . . London, Eng. E.D.RANDOLPH, . . . New York H. L. HIGGINSON, . JOHN KEAN, JR., • . . . . IA.JAMES S. ROSENBAUM, . 0. SHELDON, • • SAMUEL R. SHIPLEY, . CKARLES F. TAG, • , R. T. WILSON, . . • JOHN I. WATERBURY, • I EXECUTIVE COMMITTEE. AUGUST BELMONT, JOHN R. FORD, JAMES O. SHELDON, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis H. W. CANNON, F. 0. FRENCH, JOHN KEAN, JR., • NewYork NewYork Philadelphia, . NewYork • NewYork • NewYor}t . R. J. CROSS, H. L. HIGGINSON, JOHN I. WATERBURY. COMMERCIAL & FINANCIAL CHRONICLE. Every CHRONICLE subscriber for the year is given without any charge whatever- State and City Supplement (containing 184 pages), a new edition of which will be issued as often as found desirable in each year. !!.) The Investors' Supplement (Railroad and Miscellaneous Soourities,} containing 160 pages, which is revised and issued every alternate month. (2.) The Thus the CHRONICLE with its SUPPLEMENTS contains, and furnishes its Subscribers, a mass of news and information (much of it not accessible through any other medium) which no investor we think will feel safe without possessing. Some idea of the scope of the COMMERCIAL AND FINANCIAL CHRONIC LE from week to week may be obtained from the following summary of contents. FINANCIAL EDITORIALS critical and explanatory of official statutory and market changes or events affecting the :finances of the Government, of the Banks, or of Commerce. RAILROAD EDITORIALS on every point affecting their management, earning ce.pa.city, .finances, &c.; also analyses by an experienced accountant of reports as soon as issued. Earnings of.the roads, net and gross, obtained at the earliest dates and compiled weekly and monthly, with elaborate articles in explanation of tht' same. RAILROAD DEPARTMENT containing current :financial news, and alsolatestreli able infocmation from the railroads in all parts of the country, much of which is special to us. Likewise abstracts of annual railroad reports with comparative tables for several years of operations, earnings and financial condition ; also abstracts of all important railroad mortgages as soon as bonds are offered for sale. STATE AND CITY DEPARTMENT which was started November 21, 1891,in which we expect to publish all new facts affecting the credit of States, Cities and Towns, and in which also will be noted the changes constantly occurring in municipal debts and municipal laws as to debt limitation, &c. MARKETS-Money, Exchange, Stocks, &c., given in great detail as to the facts affecting each, with elaborate statistics in all departments. Also news by telegraph and cable from other :financial centres of the Country and of the World up to Friday night. PRICES OF STOCKS AND BONDS daily, monthly and annually, in New York, Boston, Philadelphia and Baltimore. Once a month is given a very elaborate statement, covering six pages, of the prices of securities dealt in not only on these Exchanges but on all others. LON DON LETTER.-A very interesting and useful letter by one of the distinguished :financial writers of London, giving a complete review of an events of the week affecting the :finances and commerce of Europe and America.. COTTON REPORT, with special telegrams to us from every part of the South each Fridav night with regard to the growing American crop and the movements of cotton ; also special cahle news from every country in the world producing or manufacturing cotton to a,ny considerable extent, with statistics complete and reliable on every branch of the subject. This report is the acknowledged cotton authority tlu worzd·over. Besides the above are editorials on all commercial subjects, elaborate reports of Dry Goods and Breadstutrs, with less full reports of other Commercial Markets &c. &c. SUBSCRIPTION, including the STATE AND CITY SUPPLEMENT andi$IO OO the INVESTORS' SUPPLEMENT ..... ................. ................ 5 ° per year. EUROPEAN SUBSCRIPTION (which covers postage) ..................... $12.00 per year. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis WILLIAM B. DANA & CO., 102 WILLIAM STREET, New York. mJORGE COPPELL. DALLAS B. PRATT. PHELPS & co., MAITLAND, 22 and 24 GERALD L. HOYT. EXCHANGE PLACE, NE-W- -YORK. Transact a General Banking Business. ORDERS EXECUTED FOR IMVESTMENT SECUR TIES. 1 Act as Agents of Corporations and Negotiate and Issue Loans. BILLS OF EXCHANGE, TELEGRAPHIC TRANSFERS AND LETTERS OF CREDIT - ON - Messrs. Smith, .Payne & Smiths, London. Messrs. Mallet Freres & Cie., Paris. El Banco Nacional de Mexico, Mexico, and its branches. Agents of the Bank of Australasia~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RUSSE LL MARQUAND. A. C. BER HEIM. J.A'.MES B. SKEHA N. MARQUAND, SK EH AN & co., BAN KER ~ AND BRO KER S. INV ES TM EN T BO ND S AN D STO CK S. Mem bers of the Ne-w- York Stoc k Exch ange . 16 BRO AD STR EET , NEW l.'OR K. Ne w York Gu ara nty & Ind em nit y Co mp any, 59 CED AR STR EET , NE W YO RK , MUTU AL LIFE BUILD ING. SUR PLU S, $1.0 00~o oo. APl' l'AL , $2,0 00,0 00. acts as T rustee Trans acts a Cener al Banki ng and Trust Comp any Busin ess, for Corpo ration Mortg ages and solicit s the accou nts of Corpo ration s, Firms and Individ uals. INT ERE ST ALL O-VV ED ON DEP OSI TS. GE.O. R. TURNBULL, 2d Vice Pres. ADRIAN ISELIN, Jr., Vice-Pres. , EDWIN PACKARD, Pres. J. NELSON BORLAND, Asst. See. HENRY A. MURRAY, Tres. and Sec. DIREC TORS. Samuel D. Babcock , Frederic Cromwel l, Walter R. Gillette, Robert Goelet, George Gdswold Haven, Oliver Harrima n, R. Somers Hayes, Charles R. Henderso n, Adrian Iselin, Jr., Augustu s D. Juilliard , James N. Jarvie, Richard A. Mccurdy , Alexand er E. Orr, Edwin Packard , Henry H. Rogers. Henry W. Smith, H. McK. Twombly , Frederic k W. Vanderb ilt, William C. Whitney , J. Hood Wright. EXECU TIVE COMM ITTEE . Samuel D. Babcock, Frederic Cromwe11, George Griswold Haven, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Adrian Iselin, Jr., Augustu s D. JuiJliard , Richard A. Mccurdy , Ed win Packard , Henry H. Rogers, H. McK. '!'wo~bl !, ]. & W. SELIGMAN & CO., No. B .A N KER S, 23 Broad Street, N EW YORK. ISSUE LETTERS OF fJREDIT FOB TIAVELEIS On SELIGllAN BKOl'H ~ R ~ 9 l .. ondon, SELIGMAN FRERES & SELIGMAN & VIE, Paris, STETTUEIMER, Frankfort, ALSBERG, GOLDBERG & ALTMAN Payable in any part of Europe, Asia, Africa, Australia and & America. (.)0., Amst e rdam, STETTHE IMER, B e rlin, Draw Bills of Exchange and make Telegrap \iic Transfers of Moi:ey on Europ~ and Calif rnia." GEORGE M. HAHN, 2 W ALI~ STREET~ NEW YORK, (UNITED BANK BUILDING ,) INVESTMENT SECURITIES. C ORRESPONJ~ENCE SOLICIT E D . EDWARD C. J ONES. PEYTON C. RlOHARDS. EDWARD C. JONES & CO., Investment Bankers, 80 BROADWAY, NEW YORK CI'l~Y, . • DEALERS IN . Choice Municipal, Railway and Corporation Bonds, Suitable for Savings Ban ks and Conservative Investors. ---- - INCOME!) n o t https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - - - - - - - - - - - ' -- - SPEC U LATIVE~ Investm e nts. Correspondence and Calls Invited. AUGUST BELMONT & co~, BANKERS, No. 23 Nassau Street, Issue Travelers' Credits, available in all parts ot the World, through Messrs. N. M. Rothschild & ~ons, London, •• de Rothschild Bros. ., Paris, •• M. A de Rothschild & Sons., Frankfort-on-Main, S. M. de Rothschild., Esq., Vienna-. AND THEIR CORRESPONDENTS. DRAW BILLS OF EXCHANGE ON, AND MAKE CABLE TRANSFERS TO, ENGLAND, FRANCE AND GERMANY. LATHAM, ALEXANDER & CO. BANKERS AND COTTON COIVIMISSION MERCHANTS, Nos. 16 and 18. Wal I Street, New York. CONDUCT A GENERAL BANKING BUSINESS. A.ccounts ot Bank, Bankers, Merchants and Individuals received on favorable terms, and Interest allowed on Daily Balances, subject to <!heck at Si~ht. Stocks and other Securities BouG'ht and Sold at the New York Stock ExchanG'e. ,\ Contracts for Cotton for Future Delivery Bought and Sold on Commission. REDMOND, KERR & CO., Bankers and Brokers, 41 WALL STREET, NEW YORK. MEMBERS NEW YORK STOCK EXCHANGE. Interest Allowed on Deposits, Subject to Sight Check, and a General Banking Business Transacted. Stocks and Bonds Bought and Sold for Cash or on Margin upon favorable terms. Deal in BONDS AND OT:EIER INVESTMENT SECURITIES. BANK OF MONTREAL! [ESTABLISHED 181 8.] CAPITAL PAID SURPLUS, IN., $12,000,000 $6,000,000 Hon. Sir DONALD A. SMITH, President. Gold. Gold. E. S. CLOUSTON, General Manager. New York Office: Nos. 59 & 61 Wall .Street. WALTER WATSON,} R. Y. HEBDEN, Agents.' S. A. SHEPH]JRD, Buy and sell Ster1ing and Continental Exchange and Cable Transfers; grant Commercial and Travelers' Credits available in any part of the World; issue drafts on, and make collections in, Chicago and throughout the Dominion of Canad3', https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~QNOON OFFICE, No. 22 ABC.HURCH ~ANE. A. :LJ\.NG Ma.nag-er1 E. L. OPPENHEIM & CO., [Established 1862.] BANKERS AND BROKERS, 35. New Street, and 4 Exchange Court. l'f.lEl'f.lBEKS ~. Y • Stock Exchange, N. Y. Ootton Exchan~e, · ~ , Ohlcago Board 01' Trade. N E ~ YORK. C. J. TURNER & SON,, 16 & 1 B Broad Street:, NEW YORK. Transact a General Ban.king Business~ in.eluding the Purchase ·-e: ·· , · and Sale of Stocks and Bonds for Cash or on. Margin. 1 I ·.J . '~-.;_ -· BUY ·:+ ..- AND SELL INVESTMENT SECURITIES. COLL J. TURNER, Member N. Y. Stock Exchange• COLL J. TURNER, JR. .' If LA MONTAGNE, CLARKE & CO., J~·t· ·- ·1J~ ~ BANKERS AND BROKERS , . Members of ~- V. Stock Exchange. ;::g, 15 BROAD STREET (Mills Building), NEW YORK. Branch Office, Montreal, t83 St. James Street. ·.__:.-. ·.: ~xecute orders for Stocks and Bonds; also for Grain, Cotton and Provisions; for Cash or on Margin. · ' Connected by Private Wire with Chicago and Montreal . .- Receive Deposits subject to Check at Sight. :·:' Interest allowed on daily balances. f_ Pay particular attention to Investment Securities. ;:i ·· Have constantly on hand a line of prime bonds paying from 4 J-2 Per Cent to 6 l'er Cent · on the Investment. Furnish Information about all Classes of Railway Securities. co., BOODY, McLELLAN & BANKERS, No. 57' BROAD~\i,..AY., NE-VV YORK. All Sec11rities Dealt in •at the New York Stock Exchange Bought and · Sold either for Cash or on Margin. RA.ILWAV BONDS ~ND OTHER INVES'l.~MENT SECIJBITIES A SPECIALTY.. Accounts Received and Interest Allowed on Balances, which may be Checked for at Sight. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P. 0. Box 4-4-7. CHARLES W. McLELLAN. HENRY T. BOODY. .. ·. . ,: 3;;_~ . . Wall St.. Cor. , of Broad St., NE' W" -Y-ORX:. ErecfNl 1872-8. ~- - DREXEL & CO., Cor. 5th & Chestnut Streets, PHILADELPHIA. DREXEL, HARJES & CO., JI Boulevard Haussman, PARIS. OMESTIC AND FOREIGN .B ANKERS. Securities Bought and Sold on. Conuuission.. . INTEREST ALLOWED ON DEPOSITS. ~ REIGN EXCIJANGE" COMMERCIAL CREDITS, C _IRCULAR LETTERS FOR TRA°';rELERS., Available in all Parts of the World. ATTORNEYS AND AGENTS OF ESSRS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J. s. MORGAN & co.,· No. 22 OLD BROAD STREET, LONDON.
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